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Thomas Martin says “the technical are favoring a bounce here” in markets, but thinks we'll probably retest the recent lows. Focusing on strong fundamentals, his picks include Quanta Services (PWR), an electric company, Costco (COST), and Nvidia (NVDA). Still, he emphasizes diversification and thinks the SPX remains a good investment.======== Schwab Network ========Empowering every investor and trader, every market day.Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/About Schwab Network - https://schwabnetwork.com/about
"We're just getting back what we lost yesterday," says Charles Schwab's Nathan Peterson. Sentiment around the trading session fared better for investors with optimism on trade progress from the White House. However, Nathan points out the VIX at 30 as a sign of many 2% moves in the SPX to come. He later turns to the technicals in the SPX and explains the bear market trends he sees.======== Schwab Network ========Empowering every investor and trader, every market day.Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/About Schwab Network - https://schwabnetwork.com/about
The one and only Tom Constantine, actor, stunt actor, action director, and beloved "white guy in a Japanese thing" joins us for a two-part Q&A session. In part 1, we field a few questions from the Castranger community aimed more towards the filming and technical sides of tokusatsu production. Of course, we go down a few random tangents along the way, as Castranger often ourselves do. Check out Avalon, Knight of the Round Table! https://www.youtube.com/@ShieldandSwordPro Casters Present: Blue Gray Yellow North Watch on YouTube: https://www.youtube.com/watch?v=x0jd3JyWN1Q Hungry? Get CA$15 off your first 3 UberEats orders of CA$20 or more! https://ubereats.com/feed?promoCode=eats-christopherm5931ue Get $5 off your first order with SkipTheDishes! https://www.skipthedishes.com/r/6YaJc65HKg
In this episode what didn't the boys talk about? Cando and Pete sit down with the team leads (Dave and Brandon) of Canadian Airsoft League (CAL) and talk GBBRs, Training, The College, Milsims in Canada as a whole, Technicals, Leadership, 3D printed chalk rounds and so much more. Sit back, relax and enjoy the ride. Canadian Airsoft Leagues Instagram pagehttps://www.instagram.com/canadianairsoftleague/ For excellent beard or skin care products, click the following link for 18% off https://watsonslade.ca/discount/CANDOPEW Powered by - Blackcell Promotions Set Media Keanu's Corner The Compound Eventshttps://linktr.ee/TheCandoExperiment Email us at - thecandoexperiment@gmail.com Links in no particular order - https://ravenevolution.comhttps://thecompoundevents.ca/https://open.spotify.com/show/0KZnGH9twkuFoYmTg3CYKU?si=ce4663fea34d461bhttps://www.facebook.com/ElliottLaserCreations/ https://www.facebook.com/CryeWolfAirsoft/ https://instagram.com/seam_ripper_solutions?utm_medium=copy_link https://instagram.com/galeforce_airsoft?utm_medium=copy_link https://instagram.com/crye_wolf_airsoft_?utm_medium=copy_link https://niagaraquartermaster.com/ https://dmzcanada.com/ https://andysairsoft.ca/https://www.instagram.com/thehouseofoakley/https://amplifieddesign.ca/https://www.instagram.com/blackwell_operations_group/https://www.instagram.com/inc.airsoft/https://www.instagram.com/widowmakers_airsoft/
* Market update* Scenerios* VIX History* Black Monday* Recommendations and LinksListen on Apple, Spotify, or Google Podcasts.Market Update
Tom Samuelson, chief investment officer at Vineyard Global Advisors, says the market's long-running bull market is "on thin ice right now," from a technical standpoint, having fallen below its 200-day moving average, leaving the market "at a really interesting juncture," and making him defensive, building more cash, loading up on utilities and safe sectors and waiting to see how it plays out. Samuelson says that if the market breaks down -- with a decline accelerated by reactions to government tariff policies -- it could drop another 15 percent or more, putting the market squarely into correction territory off of its February highs. Todd Rosenbluth, head of research at VettaFi, is more interested in the recent rally in international stocks than he is in the possible impact of tariffs on the markets there, and picks a T. Rowe Price international fund as the ETF of the Week. Susan Fahy discusses the latest Credit Gauge from VantageScore, which shows that the resumption of student loan payments has negatively impacted credit scores and will drop them further, as other indicators suggest consumer finances are slowly declining. Plus Mike Bailey, director of research at FBB Capital Partners, brings his "beat and replace" approach for stocks to the Market Call, and Chuck gives his initial take on what Wednesday's tariff news means for consumers.
Today's sharp selling action at the open is something Kevin Green suggests could get worse. The question rides on how swift the pullback can occur. He points to the VVIX spike as a sign VIX can "catch up" during the day after it gained traction from futures trading. Kevin highlights the scenarios that could shed positive light for markets.======== Schwab Network ========Empowering every investor and trader, every market day.Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/About Schwab Network - https://schwabnetwork.com/about
Expectations for Wednesday's CPI print are high, and there's a lot of pressure on an SPX that remains fragile heading into the report. Kevin Green labels low liquidity as troublesome for the index, suggesting we may not have hit the bottom of this downside trend.======== Schwab Network ========Empowering every investor and trader, every market day.Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/About Schwab Network - https://schwabnetwork.com/about
In this episode, we dive into the four key areas of investment banking technical interviews—financial statements, valuation, M&A, and LBOs. We'll walk you through each topic, explaining how they build off one another and why mastering them in this order is crucial. Want help securing an offer from a top tier firm on Wall Street? Apply here: wallstmastermind.com/applyutm_source=podcastep336
Stock market talk Dollar trade Canola pressing beans Tariff chatter Trade ahead of the WASDE Higher cattle market Technicals in the hogs
Technicals and fundamentals are aligned bullishly for the gold stocks. Fundamentally, cost pressures should remain mild in comparison to Gold's upside potential over the next 12 months at least.» Get a free copy of my new book: https://thedailygold.com/book» Find junior gold & silver stocks with 5x-10x potential: https://thedailygold.com/premium
Veteran technical analyst Adam Grimes of MarketLife says that the market "just doesn't look right or feel right" to keep rolling along. It's not the kind of market that can support a big move upward, and is more likely to spend the year range-bound, in a protracted "chop and flop." That doesn't mean Grimes is down on the market, because he says this could be "a healthy psychological reset;" as that reset happens, Grimes said he would cut back on active and aggressive moves and stay patient looking for declines that will represent buying opportunities. Susan Fahy, chief digital officer at VantageScore, discusses the firm's CreditGauge measure, which shows credit card balances and consumer delinquencies on the rise, although at modest levels; overall indebtedness declined, driven primarily by consumers paying down existing mortgage debt and not buying new homes. Plus,small-and mid-cap portfolio manager Lance Cannon of Hood River Capital Management returns to the Market Call, and Chuck answers a listener's question about building the conservative side of an asset allocation while worrying about sequence-of-return risk.
As Block (XYZ) embraces a new ticker symbol, investors react to a double-miss on its latest earnings. Meanwhile, EV maker Rivian (RIVN) fades following an earnings beat, but lingering concerns about its vehicle delivery outlook weigh on shares. Kevin Green recaps the earnings movers before identifying key chart levels & options trends to watch on Friday.======== Schwab Network ========Empowering every investor and trader, every market day.Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/About Schwab Network - https://schwabnetwork.com/about
The SPX couldn't get enough bulls to start a run. Technicals behind the index show a lack of volume to the upside. However, Kevin Green points to where bulls hold momentum. He then turns to options for Celsius (CELH) ahead of earnings.======== Schwab Network ========Empowering every investor and trader, every market day.Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/About Schwab Network - https://schwabnetwork.com/about
“Money Movers” provides investors with real-time analysis of the stories and the people attracting the attention of the markets each day. Capturing the energy of day's early trading, the program includes the breaking news and numbers driving stocks and sectors, helping investors make critical decisions. “Money Movers” anchors speak with the CEOs, government decision-makers and newsmakers who play a relevant role in how money is moving.
Mark Newton, CMT, Managing Director & Global Head of Technical Strategy at Fundstrat Global Advisors shares his insights on the bounce in tech names like Nvidia, AppLovin and Tesla; whether he is factoring in the impact of tariffs while approaching the market right now; as well as his takeaways from the hotter-than-expected CPI numbers. Presented by: Ryan HuangProduced by: Yeo Kai Ting (ykaiting@sph.com.sg)Photo credits: pixabay & its talented community of contributorsSee omnystudio.com/listener for privacy information.
Is there a bull run coming? Kevin Green points to today's turnaround and supporting technicals that could signal green shoots to come. He highlights a secondary channel showing a clearer split between support and resistance. On the A.I. front, optimism behind Oklo Inc. (OKLO) shows there's still steam behind the A.I. power play. ======== Schwab Network ======== Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribe Download the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185 Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7 Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watch Watch on Vizio - https://www.vizio.com/en/watchfreeplus-explore Watch on DistroTV - https://www.distro.tv/live/schwab-network/ Follow us on X – https://twitter.com/schwabnetwork Follow us on Facebook – https://www.facebook.com/schwabnetwork Follow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about
In this episode of Palisades Gold Radio, Tom Bodrovics welcomes back Kevin Wadsworth and Patrick Karim for a discussion on the probably capital rotation event coming soon to commodities generally and the stock market. They explore evidence suggesting gold's outperformance over key indicators like US money supply, the dollar index, and major indices such as S&P 500, Dow Jones, Nasdaq, and Russell. Kevin and Patrick highlight that significant shifts occur when sectors underperform gold for extended periods (10-15 years), often leading to substantial drops before recovery. They caution Bitcoin holders about potential underperformance during this rotation, a sector historically correlated with tech stocks. The conversation delves into the historical performance of SPX and NASDAQ versus gold, noting tech stocks and Bitcoin's significant drawdowns but eventual recoveries. Yet, these assets often lag behind gold for prolonged periods, resulting in real losses for investors holding them. The charting duo emphasize the importance of comparing any investment assets to the benchmark of gold, to gauge market shifts. They advocate investing in gold during market confusion and stress understanding that gold is currently in a bull era. Additionally, they discuss the importance of risk management, patience, waiting for clear trends before entering markets, and avoiding concentration in single investments or chasing bottoms and tops of markets. Ultimately, Kevin and Patrick stress patience, a long-term perspective, and applying 'the gold test' before any investment decision. Time Stamp References:0:00 - Introduction1:20 - Capital Rotation Event2:07 - Capital Rotation Charts12:57 - Equities Vs. Gold14:18 - Bitcoin Correlations22:00 - Killing Narratives24:40 - Ratio Analysis & Trends28:34 - Gold Vs. Everything32:24 - DXY Vs. CPI Chart38:48 - A Technical Approach44:18 - Public Debt Analysis48:23 - Miners & Speculation52:04 - Most Commodities?54:08 - Risks - Tops/Bottoms57:57 - Technicals & Analysis1:04:53 - Entry Points & M.A.1:10:09 - Uranium Miners1:12:06 - Wrap Up Guest Links:Twitter: https://x.com/NorthStarChartsWebsite: https://NorthStarBadCharts.comYouTube: https://youtube.com/c/NorthstarCharts Kevin Wadsworth is a seasoned chart trader with over 15 years of experience and a strong following on social media. With a background in meteorology spanning over 30 years, he has worked in various professional roles, including military and civilian weather forecasting. Currently serving as a Civil Contingency Advisor, Kevin provides advanced warning and guidance for life-threatening weather events and collaborates with emergency response teams. His interest in the financial world was sparked by a colleague in the early 2000s, and he became particularly fascinated after the 2008 financial crash. Drawing parallels between weather forecasting and predicting market movements, Kevin emphasizes the importance of gathering evidence from various sources, much like assessing multiple weather models. His approach focuses on presenting clear, unbiased charts based on the weight of evidence, rather than personal bias. Kevin's expertise lies in distilling complex information into actionable insights, whether it's forecasting weather patterns or market trends. Guest Links:Twitter: https://twitter.com/badcharts1Website: https://NorthStarBadCharts.comYouTube: https://youtube.com/c/NorthstarCharts Patrick Karim is a proprietary capital manager and chart trader since 2006. Patrick's background in commerce, psychology, and an ongoing career in systems engineering has allowed him to evaluate trading scenarios systematically. His psychology background helps him understand the human factor: overcoming stress, which is mostly responsible for maintaining a successful career.
The Mag 7 ETF (MAGS) has recaptured its 20-Day SMA, a key metric with four of the seven companies reporting earnings this week. Kevin Green points to it as a sign of bulls gaining traction. Turning to the Fed, he expects the SPX to stay consolidated until the interest rate decision. ======== Schwab Network ======== Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribe Download the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185 Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7 Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watch Watch on Vizio - https://www.vizio.com/en/watchfreeplus-explore Watch on DistroTV - https://www.distro.tv/live/schwab-network/ Follow us on X – https://twitter.com/schwabnetwork Follow us on Facebook – https://www.facebook.com/schwabnetwork Follow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about
Darin Fessler of Lakefront Futures recaps todya's trade. Topics include: - Corn and the safrinha crop - Beans and the tariffs - Wheat leads today - Technicals indicate situation - Cattle futures chasing cash trade
Monday's Big Tech sell-off sent the SPX down with it. However, Kevin Green says now is not the time to panic. He says the index has a chance to test upside gaps seen in recent weeks. Kevin also notes volatility has returned to seasonal levels after staying on the lower end earlier this month. ======== Schwab Network ======== Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribe Download the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185 Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7 Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watch Watch on Vizio - https://www.vizio.com/en/watchfreeplus-explore Watch on DistroTV - https://www.distro.tv/live/schwab-network/ Follow us on X – https://twitter.com/schwabnetwork Follow us on Facebook – https://www.facebook.com/schwabnetwork Follow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about
In this episode of Fill the Gap: The Official Podcast of the CMT Association, we welcome Jay Woods, CMT, the Chief Global Strategist for Freedom Capital Markets.Prior to joining Freedom, he was the Chief Market Strategist at DriveWealth Institutional. He also served as an Executive Floor Governor at the NYSE, the highest elected position at the Exchange held by only six NYSE members.Jay spent over 25 years as a Designated Market Maker on the NYSE floor. He started with Spear, Leeds, and Kellogg, then joined Goldman Sachs for 14 years and moved on to IMC after Goldman divested their floor operation. As a DMM, he was responsible for several high-profile IPOs and led trading in some of the most active issues at the NYSE.Jay gives us insights from his significant experience as a trader on the NYSE floor and as a Designated Market Maker. Our conversation centered heavily on technical analysis being the roadmap to finding and telling the story of a stock. He emphasizes the importance of keeping it simple and not overcomplicating your analysis. Think of the scenarios, where the risk/reward is set up, and keep your analysis as simple as possible. You can use other indicators to justify your story, but don't think there's one that's the holy grail. Be flexible, be nimble, always be ready to change your thesis.Fill the Gap, hosted by David Lundgren, CMT, CFA and Tyler Wood, CMT brings veteran market analysts and money managers onto a monthly podcast. For complete show notes of every episode, visit: https://cmtassociation.org/development/podcasts/ Give us a shout:@dlundgren3333 or https://www.linkedin.com/in/david-lundgren-cmt-cfa-63b73b/@_TBone_Pickens or https://www.linkedin.com/in/tyler-wood-cmt-b8b0902/@CMTAssociation orhttps://www.linkedin.com/company/cmtassociationCMT Association is the global credentialing authority committed to advancing the discipline of technical analysis in the financial services industry. We serve members in over 137 countries. Our mission is to elevate investors mastery and skill in mitigating market risk and maximizing return in capital markets through a rigorous credentialing process, professional ethics, and continuous education. CMT Association formed in the late 1960s with headquarters in lower Manhattan, NY and Mumbai, India.Learn more at: www.cmtassociation.org
The SPX rallied Friday but late selling led to a finish near the 50-day moving average. Staying above that could be key if a "Santa Claus rally" is to emerge amid thin data.Important DisclosuresInformation on this site is for general informational purposes only and should not be considered individualized recommendations or personalized investment advice. The type of securities and investment strategies mentioned may not be suitable for everyone. Each investor needs to review a security transaction for his or her own particular situation. All expressions of opinion are subject to change without notice in reaction to shifting market, economic and geo-political conditions.Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.All corporate names are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Investing involves risk, including loss of principal.Past performance is no guarantee of future results.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.(0131-1224)
Is it possible to incorporate fundamentals into one's trading, or should you even consider doing so? In this podcast episode, Ryan details his approach and the importance of fundamentals in swing trading and whether you should be using them in your own trading. Be sure to check out my Swing-Trading offering through SharePlanner that goes hand-in-hand with my podcast, offering all of the research, charts and technical analysis on the stock market and individual stocks, not to mention my personal watch-lists, reviews and regular updates on the most popular stocks, including the all-important big tech stocks. Check it out now at: https://www.shareplanner.com/premium-plans
John Dickinson (road warrior) & Greg Silver (aspiring professional multitasker) recap the first two road blowouts by the Warriors over the Trail Blazers and Jazz. Plus, more on Steph Curry's comments about "healthy egos," Klay Thompson's 22-point debut with the Dallas Mavericks, and Draymond Green claiming that he will get fewer than 10 technical fouls this season.See omnystudio.com/listener for privacy information.
John Dickinson (road warrior) & Greg Silver (aspiring professional multitasker) recap the first two road blowouts by the Warriors over the Trail Blazers and Jazz. Plus, more on Steph Curry's comments about "healthy egos," Klay Thompson's 22-point debut with the Dallas Mavericks, and Draymond Green claiming that he will get fewer than 10 technical fouls this season.See omnystudio.com/listener for privacy information.
The markets returned some of its strength, but Kevin Green says all isn't lost after today's market action. He looks at the S&P 500 (SPX) support levels that held and how it reinforces an upside pattern in the index. ======== Schwab Network ======== Empowering every investor and trader, every market day. Options involve risks and are not suitable for all investors. Before trading, read the Options Disclosure Document. http://bit.ly/2v9tH6D Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribe Download the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185 Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7 Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watch Watch on Vizio - https://www.vizio.com/en/watchfreeplus-explore Watch on DistroTV - https://www.distro.tv/live/schwab-network/ Follow us on X – https://twitter.com/schwabnetwork Follow us on Facebook – https://www.facebook.com/schwabnetwork Follow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about
► If you enjoyed the episode, please leave us a good review!► More from PIF: https://linktr.ee/practicalislamicfinanceTo the Moon!In this episode, we will cover:Introduction & Market OverviewU.S. Market UpdatesTesla, Nvidia & Lithium StocksBitcoin Miners & Oclo's SurgeGlobal Market Moves & Bitcoin ETFsBitcoin as a Wealth Preservation ToolDogecoin's Unexpected CatalystPolitical Humor & Market ImpactElon Musk's Role in DOGE & Meme CoinsGovernment Spending & DogePay SpeculationDogecoin's Technicals & Future GrowthViewer Q&A: Halal Rating for Injective & Bitcoin's FutureCONTACT USsalam@practicalislamicfinance.comABOUT OUR PODCASTOur podcast is about helping people ethically build wealth. We cover a broad range of topics including stock and crypto investing, product reviews, and general financial well-being.DISCLAIMERAnything you hear in this video is an opinion. It is not personalized financial advice. Make sure you do your due diligence before making any investment decisions.
Brian Splitt with AgMarket.Net visits with Chris in this episode. Brian explains the technical details that he is watching currently for corn and soybeans. He goes on to explain some price ranges that could be selling opportunities during the month of October and beyond. His price ranges are not recommendations, however areas that should be watched closely if you have grain to market during harvest. Brian also touches on some potential pricing opportunities for the 2025 crop.
Jordan Roy-Byrne, CMT, MFTA, Editor of The Daily Gold joins me to review the charts of gold, silver, GDX, GDXJ, and SILJ, but also discuss why he is not just relying on technicals alone and encourages investors to consider the macroeconomic factors underpinning the market moves. Gold prices have remained well bid lately, even despite so much volatility in both the commodities and US equities lately. Jordan outlines some support and resistance levels to watch, but reiterates he'll be most closely watching the macro developments in the economy like the Fed rate cutting cycle, the steepening of the yield curve, and the health of the economy in various data for underlying trends. We review that gold has made some progress in relation to the S&P 500 and 60/40 portfolio, but that on both ratio charts there is still stiff overhead resistance that must be cleared to really bring more buying and momentum into the entire precious metals sector. We next review the weaker action in the mining stocks ETFs lately, and in particular the weakness in silver, in alignment with most other base metals the last couple months, in renewed concerns about sliding into a recession. Despite this recent weakness in silver, it has still greatly outperformed copper, and it's possible most of the downside chart damage has already been inflicted at these levels, as it pulled back from above $32 to the high $26 pricing level. Jordan believes that when gold really breaks out versus US equities, it will drag silver higher. Wrapping up we get Jordan's take on if he'd be more heavily weighted to gold stocks over silver stocks, or stocks that have garnered a solid bid on the last few rallies, and he points out that it really must be taken on a case by case situation based on the company fundamentals value drivers at today's metals prices. Click here to visit Jordan's site – The Daily Gold
In this episode of the Market Call show, I sit down with Jason Meshnick, a market maker turned fintech pioneer whose intriguing career journey has taken him from the bustling trading floors of the early 2000s to the cutting edge of AI in finance. Jason recounts his winding path from a philosophy major in small-town Poughkeepsie, New York, to becoming a Wall Street trader and, later, a leader in tech for trading. We explore his transition to automated trading as floors shifted online trader jobs contracted and his move into roles in finance education and media. Jason offers a captivating look into the evolution of markets and trading strategies, from the dynamics of floor versus electronic exchanges to analyzing sentiment shifts through media platforms and tools like CNN's iconic Fear and Greed Index, which he helped develop. Across various sectors of finance, Jason's experiences highlight the human element alongside technical progress. SHOW HIGHLIGHTS Jason Meshnick talks about his transition from being a market maker on Wall Street to becoming a fintech expert. We discuss the changes in trading desks from the early 2000s to the present, emphasizing the shift towards automation and a reduced number of traders. Jason describes his unconventional career path, moving from a philosophy major to a Wall Street trader, and his eventual move into fintech. Jason shares insights into the development of CNN's Fear and Greed Index, including the collaborative efforts and practical constraints faced during its creation. We explore the shift from floor trading to electronic markets and how enduring principles of market trading continue to influence career paths in finance. Jason recounts his personal and professional journey, including his move to Boulder, Colorado, and his involvement with the CFA Society. We dive into the intricacies of building decision trees for financial data analysis, comparing their transparency and reliability to large language models. Jason reflects on his editorial role at TheStreet.com and the importance of market sentiment analysis in shaping financial media platforms. We discuss the role of experience and a deep understanding of market nuances in successful investment strategies. Jason explains the seven indicators used in CNN's Fear and Greed Index and how this tool helps both sophisticated and retail investors make informed decisions. PLUS: Whenever you're ready... here are three ways I can help you prepare for retirement: 1. Listen to the Market Call Show Podcast or Watch on Youtube One of my favorite things to do is to talk with smart people about investing, financial planning, and how to live a full life. I share this on my podcast the Market Call Show. To watch on Youtube – Click here 2. Read the Financial Freedom Blueprint: 7 Steps to Accelerate Your Path to Prosperity If you're ready to accelerate your path to prosperity, the Financial Freedom Blueprint lays out a proven system for planning and investing to secure your financial independence. You can get a personalized signed hardcover copy – Click here 3. Work with me one-on-one If you would like to talk with me about planning and investing for your future. – Click here TRANSCRIPT (AI transcript provided as supporting material and may contain errors) Louis: Jason Meshnick how are you? Jason: I'm doing great, Lewis. It's so great to see you. Louis: I know I'm so glad to finally have you on the podcast. You know, just knowing you for so many years and you know, knowing that you have so much knowledge out there with regard to investing and just your overall creativity, I had to have you on and I'm so glad that you came on. Jason: Well, and one thing as you know from from our relationship, I've always gotten so much out of talking to you and I always learn something just through our conversations, and I feel like by the time this podcast is over, I will have five new ideas to to go after and try to figure out what to do, how to make them all reality oh god, I hope so, I hope so. Louis: it's all about the ideas you know exactly. It was funny. I asked you to send me a send me your bio and I've known you for a long time and we met years and years ago at a CFA meeting I think we were both on a board for the CFA Colorado or Denver chapter and and since then we've worked together in many capacities. But I didn't know a lot of things about you that I should have known just reading your bio. I knew that you spent 20 years in the fintech world and I didn't know that you were also working on some AI investment analysis, which I'd like to learn more about, and that you really have a lot of passion for educating. And I guess your coworkers asked you to write a newsletter. I had no idea about that and you know now what is this about. Vampires are rich. Why are vampires so rich? Jason: That was one of my favorite things that I wrote. Yeah, if you want to cover that now, we can, or we can talk later. Louis: I think we'll circle back to that, but I was a little what's that about. But yeah, and now you're doing some teaching at CU Boulder, teaching finance. We've done a little bit of lecturing together at the university level DU and things like that and I've always enjoyed watching you teach because you seem to captivate the kids. Well, they're not kids, they're young adults with your style. So I'd like to learn a little bit more about what you're doing there. And you are a Wall Street trader and market maker and there's a lot of things that you know about microstructure and investor psychology that I want to kind of touch on too. So, but the big thing is understanding that you were involved with the CNN, that popular feed and fear and greed index back in 2012, I guess that was put together. So I don't know. Maybe what we could do is talk a little bit about your background. I mean, I kind of covered it a little bit, but just maybe you can tell me a little bit about you know, share with the audience, your you know how you got in this business and kind of what's been your progression in this business. Jason: Yeah, so my guess is that everybody says this, but I came to it from a slightly different path, not that not that, you know, I didn't get out of college and immediately go to Wall Street, that's. That's a pretty normal path, right? But I was a philosophy major and I'm far from a philosopher. But I think what I took away from my undergrad as a philosophy major was just sort of a way of thinking, right, as opposed to being sort of a business person thinking only about money, it's more about thinking about other kinds of things and things that drive people and being able to draw from communication and trying to understand what people think and how they think and why they think, and I think it was one of the things that really fascinated me. Also, being a child of the 80s, you know Wall Street was so important. There's so many movies about it, right from from the Wall Street movie to I don't know. It seemed like every other movie that came out was about how to make millions of dollars on Wall Street, and so, of course, I wanted to be part of that. Having grown up in sort of a backwater, poughkeepsie, new York, I always wanted to go live in the big city, yeah, so that was sort of my start, was coming at it from kind of a weird direction and I ended up immediately going to work for well, a firm that no longer exists for a couple of reasons, but it was the trading arm of a New York specialist firm. So the specialists were downstairs on the floor of the New York Stock Exchange and my boss was one of their customers and he just worked upstairs in their clearing division and he was trading his own money. He had been a floor broker for 20 years, owned two seats, sold his seats, did pretty well on them, and then decided that he was just going to live the rest of his life as a trader. He brought his son in and then eventually I was working as a runner so you know fourteen thousand dollars a year and just wanted exposure, just wanted to be part of the action. Right, I love the action. I was so excited about just being there, the history I love the history of things. Um, I probably should have been a history major and so, just being in that environment, I ended up getting picked up because I was. I was pretty cheap, right, so they didn't have to pay me much and I ended up working and really falling in love with being a trader and learning about how the market worked and how floor brokers could help make these trades. We had a network of 20 floor brokers across the New York Stock Exchange and what was then called the Amex, and some of the regional exchanges too, so that we could trade and we'd strategize every morning and then make our buy and sell decisions and then, throughout the day, update them as needed. I'd like to say that we were the high frequency traders of the time, even though our frequency wasn't that fast, but we were sitting on both sides of the bid and the offer. Louis: Boy. Jason: times have changed, huh offer Boy times have changed huh yeah, I mean that's yeah, I like to say. When I, when I started in the business, there were people there who'd been on the floor in 1929. And so much of the floor of the New York Stock Exchange looked the same as it did in 19,. You know, if you, if you were to go, take Jesse Livermore and drop him, you know from 1929 and just drop him on the floor in 1992 when I started, he'd have been like I don't know what these TV things are that are all around. He wouldn't have even had that word, but otherwise he'd have been able to run into a crowd and know exactly what to do. And by the time I left in 2002, well, there wasn't even a crowd, right? I mean, everything was different about the floor of the exchange. I was a market maker on a fully electronic stock exchange, so the principles were all the same, but everything else had changed. It was so different. Louis: Oh, that's a big part of what I wanted to talk to you about that the principles are all the same. So, because I was just listening back to some of our, or looking back at some of our conversations just to prepare for this, and we've had a lot of conversations in the past where you were really outlining like I want to capture what I saw, those principles that I saw on the floor, and I want to capture them today and that's kind of driven a lot of things that you've done. So maybe maybe you can tell me like just a handful of what those principles are that you've noticed are like still the same now that probably will never change. Jason: Well, so I'll caveat this by saying I've been out of the markets for a number of years, right, so I left, I left trading in 2002. And then I was still, you know, still kind of a pretty active trader, investor for the next 10 years or so. But then life gets in the way and I'm just very busy, and so I've sort of shifted my focus in a number of ways and I'm honestly really interested in analysis now and thinking about market sentiment and what investors are doing and how investors think about the market. And I now, when I trade, it's opportunistically right, I'm not in there every day, I'm not trying to make eighths or even pennies. Louis: I guess we should probably. Oh, I'm sorry to interrupt you there. Jason: Go ahead. Louis: I was just gonna say I guess we should probably back up a little bit and talk a little bit about, like more about your career progression, because you moved into from trading into fintech and, and from fintech now to working at the streetcom for and as an editor, so, and which to me makes a hundred percent sense. Um, just from what I know from your talent, your talent stack, so maybe you can kind of finish that progression a little bit. So, to where you are now, yeah, sorry, yeah, totally. Jason: So my progression is really. I mean, there's there's a couple things that run through the entire thing and I think a big part of it is analysis and being excited about, about thinking about the markets right, about being being in some ways just part of the culture of it right. So that's been the big thing that's run through my entire career. But in 2002, my wife and I we weren't married at the time we were thinking about you know where will we end up, and we decided that we either end up in New Jersey or we could move somewhere that we wanted to live. So we did a search all around the country and decided we just sort of threw a dart at the at the wall and said Colorado seems pretty nice. So we ended up here in Colorado and it's been the best move. Louis: Man, that was a lucky dart throw. If you ask me, it's a lucky dart throw, I think. Jason: I think it was guided by my wife's hand. She may have said I'll take that dart and I'm going to place it right here just at the foot of the Rocky Mountains. So she'd been out here and visited and said Boulder is going to be the place where Jason will be happy and we'll make this happen. And so we moved out here without jobs. I quit my job as a market maker in June of 2002. And the market was changing so much at that time it was definitely becoming harder to make money, and so I was ready for a change. I was ready to do something different. You know, when I left, there were 10 traders on my desk and probably another 30, 20, 30 on our over-the-counter desk. And when I went back, seven or eight years later and I'll get to this, but when, when I was working in FinTech and I went back, visited my old trading desk, there were three people and a really large computer and, rather than taking directional bets on the market, they were doing arbitrage. And they were. They were, they were working the order flow and they were figuring out, based on the order flow, how long or short they were going to be. You know, sort of using quantitative methods to understand. If they felt the market was going up and they were going to end up being more short and more short, they would have to think about the Delta to the market and try to get long ahead of those people so they could be selling to them. So it became in some ways probably a much more intellectually engaging thing than just sitting saying, oh someone just sold me 1,000 shares, I have to get out of it now. You were thinking ahead of the market. In many ways it was really cool. I probably would have liked it a lot, but it just became a really different animal. It was much more arbitrage as opposed to directional trading, which is really what I knew. So we moved to Colorado without jobs and in doing that that's when I met you, lewis is. I was pretty engaged with the CFA Society despite not having a CFA I'll throw that out there. I'd also just finished my MBA at NYU. That counts. So, I think they let me in, but that was about it, and they let me even onto the board. Louis: Yeah, yeah, you're a very likable guy, so it was a pretty easy decision. They're like he doesn't have a CFA, but he's a pretty cool guy. We'll let him in anyway. Jason: I think he also said this is a guy that we can make do all the all the programming. We can make him call all the all the people that we don't want to call and try to organize meetings. And they thought I was an event planner, which it turns out I'm not. I'm just not a good event planner. My wife can tell you that Actually, lois, you did kind of the same. We were organizing all the CMT meetings. Louis: Oh yeah. Jason: Like, yeah, yeah, yeah, let's, let's go call some people, um, yeah, but so so it took a while and I ended up finding this job here in boulder, uh, for a company called wall street on demand and for those who are not familiar with wall street on demand, it has a new name um, it became market, uh, no, became wall street on. It was wall street on demand. Then it became market on demand once I, once market bought us and then eventually it became market on demand once market bought us, and then eventually it became market digital, when they decided that it was really time to think more broadly than just web and think broadly across all digital formats video, et cetera, and advertising. And I stayed there for 19 years. Where, louis, you touched on the AI side of what I did and so this is one of my big jokes is that I like to say that I was the world's most widely read analyst, if not the best, and the reason why I say that is because over the 19 years that I was at that company, I built something like I don't know 200 different. I call them only because of today's terminology and the way that people talk about markets now, about technology now. I call these AI related, and they really are simple. They're very much rules-based AI, so sort of traditional AI, not these large language models that we have now that are in some ways more sophisticated but really not as good. So what I was building were these big decision trees, and these decision trees were things where you would, using your financial knowledge, you would say, okay, I'm looking at some financial data around a company. What do we need to know? Well, let's start with the valuation. Is the stock what's the PE ratio? Is it a high PE ratio or a low PE ratio? How do you define a high PE ratio? Is a high PE compared to its average for the last five years, or is it the highest in its industry? Right, you can look at things cross-sectionally or historically, right, but both ways time-based or versus peers, and so we would do things like that and we would chop up the market and try to understand. You know which stocks were good or bad, but it wasn't necessarily for an investment perspective, right? This was because what we were doing was for the Schwab's and TD Ameritrade's and all those companies. We were building the news and research portions of their website, and so I and my team were providing that research, and so a lot of the texts that you would see on that site was completely dynamically generated. So, very simple, rules-based AI. And I say it's better than large language models for AI, because large language models you never really know what you're going to get. It's a bit of a black box, right. So what we could do is I would create text that was locked down. I knew exactly what it was going to say. I didn't know what the data was that was going into it, right, I didn't know if Apple had a high PE ratio or a low PE ratio, but I had rules around defining what was high and low. And so when I would go to the compliance departments at Schwab or TD Ameritrade or Fidelity, et cetera we worked with all the US brokers, many of the Canadian brokers, australia, others I would go to the compliance departments and they would say, well, how do I know that you're not going to say something silly or that's incorrect? And I said, well, I'm going to give you the entire decision tree and you're going to be able to look at the decision tree and understand what it says. So the only way that my model can be wrong is if I have a bug and there are bugs all over the internet, so I'm as fallible as anybody else, but we're going to do our best not to have those. And then, secondly, if the data is wrong and if the data is wrong, well it's wrong all over the website too, and we're going to fix that. But generally, 99.9% of the time, for 99.9% of the stocks, what we say is going to be accurate. It's going to be correct, it is going to be as unbiased as possible, because I'm not trying to tell you, as a value investor or growth investor or whatever, what you should do. I'm just trying to describe the various aspects of the stock. I wasn't there to give you a buy, sell hold recommendation. I was purely there to help you, as a self-directed investor, understand more about the stock, about the company. You know you brought up something that's really interesting about that. Louis: I mean, I have to. You know you're talking about large language models and it's a little bit of a black box. We don't really quite know, and you're dealing with these big decision trees, or you were at that time and it was traceable, like you could trace the logic which made me think, okay, we have data and the data can be right or wrong, and then you have the logic, and the logic can be right or wrong. And I think that's one of the things that I always have a little. I'm having a little bit of an issue with with some of the AI is the logic element of it, because you like how much of it is curve, fitting what is real behind it, so we could use it. I had a tech executive tell me one time that the big thing with AI is it can help us with speed and it can help us with accuracy if we use it correctly. But it's not necessarily like you still need human thought. You still need that ultimate human element to it. That's my personal opinion on that. But the fact that you were using decision trees early on, you know that and just to get information, that way you were speeding the process for the investor, basically. Jason: Right. Louis: Like they would spend a lot of time looking for all those things. But you systematically sped it up, which is a a big thing for and we and we all have that now that's and it's, there's just like different flavors of it, um, so, uh, it's, it's that whole. It's a whole. Nother topic we can get into a little bit later. But I, I, uh, I remember you talking about that when you were doing working on those projects, um, wondering where it would go next. Um, you know, as far as that goes, but getting back to your, getting back to your, your story, let's get back to your story. Yeah, sorry, keep getting off track. Yeah, that's okay, yeah. Jason: So while I was at that job I did, I did a number of things. I mean it was really, it was really an exciting job in so many ways. But the two big things that I did were really this you know, running the natural language generation product right. This thing we called it smart text, um, and so that's that ai thing. But then the other thing that I was so excited about was doing education right and and our. So this started back in 2006 or 7, um, I started doing brown bag lunches where I would just put together a presentation and teach our developers and designers and engineers all about everything they needed to know about investing, not so they could go out and make a million dollars, but rather so that when they were building the tools that we were all using, they understood their subject matter right, that they could be engaged with the topic and identify with the end user and really understand why a PE ratio mattered or why a chart mattered. Simple thing, like in design, you'll notice that there's a lot of white space on many pages and they talk about that as being good design. It's actually a really bad design for investors and the reason is well, depending on the type of investors, but for slightly more active investors, engaged investors, what they want is information dense things, and so I would help steer our design team to create things that were a little bit more information dense, an example being a chart, a price chart. You don't want to have to scroll up and down too much to be able to read your price chart on your Schwab account. You want to be able to type in NVIDIA and load up a couple of indicators that you want to see. Put your MACD on and then MACD is a lower indicator, maybe an RSI, maybe whatever Put those things on there and be able to, in one view, understand the trend, momentum, volume and volatility from that stock right. That was another thing that we did when we rebuilt Schwab's charts. I'm kind of proud to say that Yahoo actually stole this, but we broke the indicators out. Previous big charts started this. They said indicators are either separated out as upper indicators or lower indicators, and that doesn't tell you anything, and I'll credit John Bollinger. I learned all this from him is really you know, people should understand what goes into the indicators. They should understand as much of the calculation as possible, right, what the inputs are and what it's giving, what information it's giving you, right, and then separate those out into different sort of you know I'm using the term factors very loosely but into the different factors of technical analysis. So, is it trend, is it momentum-based, is it volume, volatility you can come up with others as well but, right, where does it fit? And if you're looking, if you put a bunch of indicators on a chart and it turns out that they're all trend indicators, well, you really have one indicator and so you're not getting a full picture. So go put some momentum indicators on there to understand the speed and whether the trend is about to be exhausted or not. So it's things like that that I really wanted to help both the end user of our products as well as the the, the person who was building the products, understand so. So I ended up writing for about three or four years. So we started that in 2007, but it was. They asked me to put it on hold after a while cause it was taking away from a lot of my work. And then, in 2018, our CEO came to me and she said you know, you used to do this, these brown bag lunches. I would really like it if you would just write. Just write a newsletter for the whole company. The question of the week, so Fridays. I'd ask the question, and it might be how many? How many stocks are there in the S&P 500? And I haven't looked at the number recently, but I think the number is still 501, right, it might even be higher, but there's only 500 companies in the S&P 500. And so that's the distinction. There's 500 companies, but some companies have multiple classes of stock that may be in the S&P. It might be 505 now I can't remember. I have not looked in a long time, but that was effectively the answer, and so it became just a really fun thing to write the answer, and so it became just a really fun thing to write. Yeah, so teaching people about vampires right, became a way of telling them. Why are vampires so rich? It's simple They've been investing for hundreds of years and so they've had time to let their money compound. Assuming that Vlad the Impaler, the first vampire, he was a prince. Let's just put a number on that $10,000 in today's money. What does $10,000 grow to over 500 years? It grows to trillions of dollars. And then, if you spend 1% of that every year, how much money are vampires spending? Today, vampires are spending billions of dollars. Vampires are probably supporting our economy. Louis: They've got to be the richest people in the world. It's like puts vampires, yeah yeah, it puts elon musk to shame, I mean really so maybe elon's a vampire yeah, you never know, maybe a little similar, I don't know. That's that's wild. Well, um, so you have this creative side to you. That's that's driven that. And then how did you get um, like, was it just a natural progression for you to do what you're doing now? Jason: or maybe you should tell us a little bit about what you're doing now yeah, so so let's get to what I'm doing now, because that's important and I know that, um, they'll be watching this and they'll they'll kill me if I don't talk about what I'm doing now, because they also really like it. Um, I'm having a lot of fun. So, you know, you go through ups and downs in your career and I definitely there were times when I absolutely loved trading and absolutely hated, and that might be the same day. I might love and hate trading. Louis: In. Jason: FinTech it was. I might love a year and hate the next year and, you know, love the next year for that. It was project to project and here you know right now what we're doing. So I work for I'm currently the managing editor of the street pro and so so you are probably familiar with the street. Jim Cramer founded it back in I don't know 1997 or 1998. It was really the first, the first and best of its type where you could come and get financial news and information. And then, not long after they started the street, they brought, they created something called real money where they brought in people like Helene Meisler and and Doug Cass and they would create something that was more of a subscription product but more of a newsletter, newsletter product where Helene would write top stocks is what it became and Helene would write her brand of you know market sentiment analysis and it was really great. And Jim Cramer left about two years ago and I've never met Cramer. I've heard him speak before but I don't know Cramer, don't know a lot about him. But I'll say this is a business that was 25 years old or is 25 years old now, and it's going through a lot of change. So we're trying to figure out what will it look like in the future. And one of the big things I love this I quote it all the time but Barry Ritholtz was one of our. I believe he was a street contributor at one point. Barry Ritholtz has gone on to become a Bloomberg contributor and have his own money management firm, but earlier in his career, I'd say, he made his name at the street, as did a lot of people, and so he calls the street the Motown of Finance and he says that the Jim Cramer was sort of this I think the name is Barry Gordy character who you know sort of larger than life in many ways, and he brought people in, brought people in and he made them stars right, and so we did the same thing, or he did that at the street, and so we're in the process now of trying to do that again. We have great contributors. They're all wonderful and they provide really great perspectives on the market, and sometimes they disagree and sometimes they agree. I asked a few of them to write about GameStop recently and it was really great to see the kinds of things that I got. But we want to get back and we want to make these people, we want to make our contributors, who are such great analysts, stars again, right. So we're trying to change a lot of things that we do in the business. In the past it was really Jim Cramer. The last five years, I'd say, jim Cramer became our number one star. I want Helene and Doug and Sarge and Rev Shark and I could go through the whole list Chris Versace I want them all to be stars too, and they want to be stars and they are because they're so good. So we're working at how we can do that, how we can elevate the content, not just to make the contributor stars, but really to showcase how good they are as we go and help more investors to be self-directed investors, be more successful in their trading and investing. And I say we have two different types of products, really Our value add. If you are a trader, a self-directed trader, you might spend your time on Doug Cass's community, right? So Doug has his daily diary. Doug's a hedge fund manager. He's out there from three o'clock in the morning. He's sending us stuff. It's crazy. The editors have to be there editing and putting it up from. They start at 5.30. So the editors are in there at 5.30 in the morning putting Doug's ideas up all the way through the end of the trading day, and then in the lower half of that page is a community where we have many, many people from the community, some of which I won't say any of their names, but some of which are fairly big names in finance and investing. We know who they are. On the site they really the community ends up feeding on itself and providing great ideas just among each other. There's one guy who talks a lot about cryptocurrencies. We don't have a lot of cryptocurrency content on the site. We're working, we're going to be adding some, but this one person alone actually provides some of the best crypto content I've ever written, and he's paying us right now, at least for now us right now, at least for now. And so the other products that we have. We have where you can get trading ideas or investing ideas. We have some people who are a little bit more technical focused, some who are more fundamental focused. We have one person who does really well providing dividend ideas. Another person is really great at more fundamental, value-based ideas, but then we have a whole portfolio. You can come to us and we have Chris Versace runs our pro portfolio, where we help investors understand not only how to put together a portfolio and they can just copy this entire portfolio but, the thing I love about it most, every week Chris writes a weekly update talking about what he sees in the market, what's coming up, economic things that are happening. But then he goes through all 30 holdings. He tells you the investment thesis you know I'm big on the investment thesis, lewis right, you should have a thesis, you should know why you're investing something and you should update it frequently. Right, chris updates the investment thesis every week. And then he tells you what his target price is and his panic point, his stop right, where he's going to realize that his thesis is incorrect and he's going to re-evaluate, probably sell the position. And then he just goes through and gives you sort of a weekly update and says, yeah, here's what happened in NVIDIA. Jensen Wan was out doing whatever he did. He spoke to these people. So that's what we're doing and the product is great and we're, you know, really excited. Now we have a lot of energy around what we're doing and how we're, how we're rebuilding, um, building I keep saying rebuilding like really we're taking what we had, which was a solid product, and we're just building off of it. We have, uh, later this month this will be the first time I've kind of mentioned this Um month this will be the first time I've kind of mentioned this Our marketing team doesn't even know but later this month we're doing a roundup, or we're actually calling it the quarterly call. So this will be the end of every quarter. Now we're going to have four of our contributors come on and really just talk about what they see in the market and have kind of a little panel discussion, and so that'll be really exciting, but it's things like that that we want to do. Louis: Yeah, it's good to hear the actual real time discussion, you know, because you get more color about it. But I love what you said about the Motown or the. Who is it? Who said a Barry Ritholtz? Jason: Barry Ritholtz. Louis: Yeah, I said that. I mean I thought I had so many like visions in my head because, you know, I'm a musician too and I I'm thinking about motown. I fell in love with motown as a young kid. My parents listened to it and the first thing that I thought about was that these, a lot of these people that were, uh, involved in motown, they were, they were completely isolated from the music industry. So so you know, you can find a lot of talent outside of, people that are like right in the mainstream of the music and of the Wall Street, kind of normative Wall Street. I mean you have to do something different really to be unique like that. And sometimes I think groupthink hurts Wall Street. In fact, I was just telling my wife this morning. I got out of the shower and I said you know what, in a way, wall Street is kind of like not even a thing anymore. Like you know, it's like I don't even think of Wall Street anymore as Wall Street. I mean last time I was there it didn't even seem like Wall Street to me. I mean it's still, it's still a thing mentally, but it's not. It's like I really think it's time for Motown. Jason: I think you guys are right in the thick of what we should be doing, because there's so many great thinkers that I run into who are not anywhere near the center of Wall Street, quote, unquote. So that's, yeah, one of the things I really want to steal comes from Chicago. So Morningstar in their quant reports. So if you have a Schwab account or any of these, they pretty much all have Morningstar's reports. These aren't the quant reports, I'm sorry, it's actually the ones that are handwritten by analysts, but on page I don't know two or three they have a module that says bulls say and bears say and they go through the bullish case of a stock and the bearish case of a stock, and that's something that I want to institute everywhere. Everybody should be with everything right. You talk politics, you should have a. You know what are the positives, what are the negatives. Whoever your candidate is doesn't matter. They have positive, they have negatives, that's right. You know your friends have positive, negatives. Like everything has a positive and a negative, and you have to look at both sides of the story, especially they say you shouldn't marry your investments Right. Know what the downsides are, Know what the risks are with everything you do. Louis: Wow, there's a lot there we could go into. Jason: I know yeah, as far as the no, no, not politics. Believe me, I mean we're staying away from politics. Louis: Yeah, we're staying away from that. You know, it's more like the I keep thinking of the narrative versus the numbers debate. I always say that I'm more interested in the numbers than the narrative. Like I start with the numbers and then go for the narrative and I think the older I get and the more I've seen, the more I realize that it's not the narrative necessarily, it's just understanding as much as you possibly can about what is true. It's hard to do and so much of investing is qualitative. You know, I mean you know my background. I do a lot of quant factor stuff and all that and that's really helpful in kind of keeping you honest. But at the end of the day, when I look at the stocks that have done really, really well for me, or macro trades like futures type oriented trades, it's been because I had some piece of knowledge and understanding about something that I just knew with a high conviction that was true and I stayed with it and it made a lot of money. So that is really hard. I don't think the quant sometimes leads you there, but it may not necessarily. It's not usually the end, like the end all be all, and a lot of times if you look at the best quantitative stuff it tends to turn over a ton. Right, it's like like momentum. Well, you know, you could say like, okay, I'm going to run momentum screens on stocks and the best parameter set is going to be me like turning over quite a bit. But then after tax and reality in the real world, you're really not making that as much as you would think, whereas you might find something that's gaining momentum that no one's talking about, like I bought not to talk about. I shouldn't talk about specific names right now, but there's a particular stock that I bought where I understood what was happening. It did come up in a momentum screen. It was a very small company at the time and then it just went ballistic. That now did I know it was going to ballistic? No, not to that degree. You know, I didn't think it was going to go up. You know 500% in, you know three months. But it's one of those things where you, if you know something, there's so much more to the narrative, so you go into the Motown aspect of things. There's value in that. We, we numbers are becoming a commodity, almost right. Everybody can get all these numbers and we can, we can move things around. Anybody can go on chat, gpt and, you know, pull, you know I get certain things. So I, you know, I don't know I'm becoming more of a qualitative guy the older I get. Is that that's weird? Jason: I have a theory on that. Let me know what you think. But I think that you are able to become a qualitative guy now because you have been a quantitative guy for so long and so because everything that you do there's, you know, there's a famous saying, it comes from consulting. I think you can't manage what you can't measure, and so everything that you've done as a quantitative person has been to measure, even when you run that quant screen and you get a list of stocks and you know that this list of stocks is going to turn over at the same time. You probably know well, this is going to turn over. But let's pick on NVIDIA. Nvidia is on the list right now and, because of these other things that I know through my experience, nvidia may come off in two weeks, but it's probably going to come back on in a month. I should just hold it Right, yeah, and so I think that you've spent so much time in the markets and it comes down to the word is experience. Right and that's why you hire a financial advisor. Or you hire, or you take a subscription to the Street Pro, or you want to get the experience of other people, especially as you're learning. Louis: Yeah, yeah. Jason: So now you can be. I was just going to say one thing. One thing is you can be sort of a core satellite where you can take your core investing, and maybe you want to be self-directed and buy a portfolio of ETFs, or you want to give that money to your financial advisor, give it to you, lewis, and then, with sort of the satellite funds, play money or whatever. You use your own experience Maybe it's in your own industry or whatever it is. You're trying to add that extra bit of alpha right and have fun maybe, but but keep yourself intellectually engaged. You have, you know, sort of the core of your portfolio over here and then kind of the rest of it where you can do things with as well. Louis: Yeah, I totally, I totally agree with that. So you know, this is just kind of getting me into this the fear and greed concept. You know you got involved with the fear and greed. I'm not, I'd like to hear the story about how you got involved in and what you, what you did in that. But when I think about the fear and greed index, I always think about that fish that's in the bowl and doesn't realize that he's in water and but you know, but if he steps outside and looks at he's like wow, I'm in water, right. That's kind of what sentiment is to me. It's like we're part of the sentiment, like we are, we're the observer. It's like the Heisenberg principle, like what we look at, we change, right, and that's sentiment, and fear and greed is kind of like a great overall, you know, easy to understand way of looking at that. But I guess I want to let's start off with your story, like how did you get into the fear and? Jason: greed project and what, what. What was your progression through that? So yeah, I mean, after coming from Wall Street, I'll tell a really quick story because I think this it's in it's in the article that I wrote too. But this story is a story from business school and I can't remember if the numbers are correct, but they're approximately correct and the timing is approximately correct. I was in business school, part-time, at night. I was working as a market maker during the day and then at night I was at NYU taking a class and this class was a valuation class and they asked us we had to come up with, we had to do a discounted cashflow analysis of a stock, and each group got to select whatever stock they wanted and I proposed to my group let's pick JDS Uniphase, because it was one of. It was the NVIDIA of its day. Oh yeah, hopefully NVIDIA will have a better future than JDSU did. But my group was all they said absolutely, let's do that one. And the stock was trading at I don't remember exactly, but probably about $165. Okay, and so we sit down and we do our analysis and we're doing discounted cashflow analysis and one of the big inputs to DCF is understanding the growth metrics right and forecasting growth. And forecasting growth means looking back historically, figuring out how fast the company has been growing and just saying you know, is it going to speed up or is it going to slow down? Eventually they all slow down. It will slow down, but you have to figure out how long that's going to take. So we did the analysis and we figured out it would slow down, I don't know, over 10 years or something. Something pretty reasonable, probably pretty generous as well, and we came up with a value Again. Remember the stock's trading at $165. We came up with a value of $2.25. And we looked at it and we said can't be, can't be. We learned in our last class the market's efficient, this is all wrong. I don't know. We did something wrong and so we went back and we now this time we went crazy. We're like this stock's going to speed up its growth. It's going to, instead of growing at 50% per year like it has been, it's going to grow at 100% forever. And we came up with a value of $225, right, and so the stock gets added to the S&P or maybe it was when they confirmed that it would be and the stock jumps to $225. It jumps to $235, I think was the high I sell my stock at like $225. Louis: And so we were right, that was a good trade. Jason: Good trade. And then we go and we present our research to our professor. And this is where it's really funny. The professor, who was so outrageously smart, could do any math problem in his head. But he's looking at us, he's laughing at us. He's like really, you think this thing is worth $2.20? We're like, yeah, here's the research, here's what we did. And he's just laughing at us. And then he says how could this company possibly be worth more than Apple? And Apple at the time was trading at $19, which, split adjusted, is probably something like negative 10 cents. And he said Apple has $16 in cash on its books and, whatever he's like, Apple is definitely worth more than JDS, Unipay. And, of course, this guy's probably retired on a private island somewhere. But what I took away from this whole story oh, and the other thing is we were right on both sides. We were right with $225 call because the stock traded to $235. And within two years the stock was trading at something like $2. So we were right on both ends. And so what I took from that was I'm not a great analyst and I'm not a great forecaster. I'm especially not a good forecaster. Okay, but what I can do is I can look at data and I can back into things and I can understand well, if I look at, if I calculate, if I back into, how do I get to $165 or $200 for JDS Uniphase? I look and I say, well, the market has really high expectations of this company and those expectations are nothing but sentiment. Nobody knows. Louis: I think that's all you need, though, jason, I actually don't think you need to be a great forecast Like that's really all you need. So, cause, if you know those extremes, you avoid mistakes, because the more I do this, the more I realize that's what it's about. You know, if you're going to put X number of units, and risk units if you will, in your portfolio, if you don't make a lot of mistakes and you compound reasonably, you're going to do great. It's just like reading. You know Warren Buffett always talks about read chapter eight and chapter 20 of the intelligent investor, which everyone should do, by the way. In fact, I'm set I send that book to clients and just say read this. You know that's what all it is about. I mean, that's basically what it's about what you just talked about right there. You don't really need to be a great forecaster. You just need to avoid a lot of mistakes and have a reasonable amount of diversification, not too much. And yeah, I mean you hear about people that have made like great calls consistently, and then the more you learn about them, the more you realize that there was something else part of the story. You know what I'm saying. There was another part of the story that you didn't really hear about, and a lot of it boils down to not avoiding mistakes, having discipline, risk management, things like that, but anyway, I got you off your topic. Jason: It's all risk. Yeah no, yeah, no, no, yeah, and it's. It's important to cut me off too, because I can. I can talk about certain things for too long, but I'll just. I'll just cut right to your question, which was fear and greed, yeah, yeah. And so how did I get to that? Literally, I, from that point in about 2000,. You know, I got much more interested in technical analysis and and, and I started thinking I'm not so much like a stock picker and I'm not so much into, you know, the MACD and the RSI. I'm much more quantitative. That's my interest in technicals. Technicals really helped me become more quantitative and more interested in looking at the big picture, understanding how to measure the big picture, and so I started looking at indicators and things that people like Ned Davis was doing. Right, I, I a big fan of Ned Davis, ned Davis's work. There's some other providers that were like that, sentiment traders Another one. I like all those, I like what they do and I started trying to replicate. You know, you don't know what their secret sauce is, although actually Ned Davis has a really good book. I'm looking at my bookshelf somewhere out there when Ned Davis's book is being right or making money. But then his chief strategist wrote another book where they actually go in and they tell you how to build a, build their, one of their sentiment indicators that has nine components to it. I was messing around with that, trying to figure out, trying to understand these indicators and understand the signals that they gave. And I hadn't around. That same time, cnn was one of our clients at what was then Wall Street On Demand and our CEO was out talking to them and he was talking to Lex Harris, who was their editor in chief, and Lex said you know, I don't know what this is, but I want to build something called the Fear and Greed Index. Can you help me? And Jim, our CEO, came back and he came to my team and he said so CNN has this kind of crazy idea. They want to build something called the Fear and Greed Index. What do you think has this kind of crazy idea? They want to build something called the fear and greed index? What do you think? And everyone on the team pushed away from the table. They're like what a bad idea. And I was left sitting there going they thought it was a bad idea. Yeah, they just you know they didn't get it. It wasn't what they do. I thought you were going to say mic drop. Louis: I literally thought you were going to say mic drop. Everybody said that's a great idea, let's jump on it. That surprises me. They looked at it. Jason: Yeah, they were like well, and they didn't know how to do it right. It wasn't what they were interested in. The team all had very different kinds of backgrounds, and I was the only one that had that more market-related background. The others were really more analysts Smart guys, great guys, but much more like. They could probably pick a stock better than I can, but they cannot tell you if we're in a bull market or a bear market. So I'm sitting there saying this is the greatest opportunity ever. And so they got me on the phone with CNN, with Lex, a day or two later, and we just started putting together ideas and Lex basically said look, I don't know what this thing is. You kind of know what I want to do. I just want something that really represents that quote that Warren Buffett says, which is you should be fearful when others are greedy and greedy when others are fearful. So what, what is that? What does that look like? And so I just went and built it. Luckily, they gave me Jim. Our CEO's son was also a statistics major at Yale, and so for his summer internship that year, he sat with me and we went through and took all the indicators that I had put together and we did a principal component analysis, which is really important because you want to make sure, just like we said earlier, when you're looking at a stock chart, you want to make sure that your indicators aren't all trend indicators or all momentum indicators. The same thing, we want to make sure that each of the indicators, within fear and greed, didn't step on one another right, that they weren't saying the same thing, or really just that they worked well together, that they were each complementary, right? There were a couple indicators that I wanted to include that just didn't make it for budget reasons. Cnn is a media company. Media companies don't have huge budgets these days, so I couldn't do things like market valuation, s&p 500 valuation, or we wanted to use the, because by this point, market had bought us, and so I wanted to use the credit default swap index and I could only get end of day CVS data, not intraday, and so it just didn't fit with what we were doing. Um, so there were, there were some indicators that we left out that really would have been perfect and, um, you know, later on I got I got to use for other purposes, but not for the fear and greed index. But I got to use for other purposes, but not for the fear and greed index. But yeah, right now you know the fear and greed index, the seven indicators that are there, we selected one that is purely just the S&P 500, right, normalized. So we understand if it's sort of fear, you know, fearful or greedy. But then we have two that are breadth indicators. So how broad is the advance or decline? And is that moving in concert with the market or against the market? Then we have two that are options related the put-call ratio and the VIX. And then we have two that are bond market related One that compares the spread and yields between low-quality junk bonds and high-quality investment-grade bonds, as that spread is tightening. You see that investors are, you know they're more, they're seeking out risk because they think that they can get better returns. And then the last one is where we compare the returns on stocks to the return on bonds over a 20-day rolling period, total return as well. So for all these underlying indicators we're using ETFs. So this is actually something that can be replicated by anybody, but there are a lot of mechanics and calculations that go into it on the back end which make it. You know, if you are going to calculate it yourself, you got to be pretty sophisticated and be and have a pretty decent data feed. Yeah. Louis: Well, I love that. You know that was put in a scale that made sense and a categorization that made sense. It almost kind of makes sense the way that you did. It is like extreme fear, fear, neutral greed, extreme greed. These are things that we can understand and this is, I think, one of your biggest talents, actually. I think one of your biggest talents actually. You know, like you had said, we were looking for, we did principal component analysis, but we were looking for things that worked well together and complementary. As a quant geek, I would have just said non-correlated, you know or not. I would have used like big, long names of there's some statistical names that are you know to describe, that are like really long and stupid, sounding like to make no sense. I love the fact that you like that, you, you that's the. That is a great skill and I think to be able to take something that is complicated and make it accessible was one of the biggest, I guess, wins from this and it also helps people understand themselves, in my opinion, like if somebody goes and they look at this and they say, okay, right now I'm looking at the website. It says I'm on cnncom markets, fear and greed. It says it's got a number 48 and it says we're neutral but kind of tilting towards fear. So tell me a little bit about, like, how you would interpret this. I'm an investor right now. Let's say I have a reasonably good sized portfolio. I want to grow my wealth, but I also want to manage my risk. How would I? What would I use this for? How would I think about this? For like, really, like practically, how would I use this? Jason: Okay. So what does neutral mean? And neutral is really that center zone of I don't know what it is right. So the first thing I'll ask you to do and I know users or people who are watching or listening can't see this, but in the upper right corner you can see where it says overview and timeline. So the first thing I want you to do is click on timeline, okay, and what you'll see is a chart of the fear and greed index for the last two years. And especially when we are in this neutral area and we don't really know what the overarching sentiment is, it's important to look back over historically, just like we said with the PE ratio. Right, you can look back and compare to peers, or you can say how is it versus history, and so what we see is this 48 is an increase over where it has been. But, more importantly, we're sort of in this weird consolidation period. Fear and greed is just kind of ticking up and down, up and down. It's not really doing much of anything. So, however, we have dropped from a level of greed right Back before April and I'm going to pat myself on the back. I don't write much about fear and greed. I'm going to start, but I don't write much about fear and greed on our site. I did post in one of our little communities. I said, look, hey, just so you guys know. You don't really know me, but I built the Fear and Greed Index and here's what I've been watching Fear and Greed. It has just broken down. I think the market's going to break down with it, and you know my timing was amazing and the next day the market broke down. So, yeah, good for me, blind squirrel. But so what I like to do is I like to look and see and look for patterns and try to understand what is it doing and how does it compare to the market. So a few things, all right. What really matters is fear tends to be good. What happens when the indicator goes into fear or extreme fear? What we see is that standard deviation of returns. So the volatility of the market increases, and I think we're talking about forward volatility too, not like a month out, but days out if you want to measure it each day and sort of see what's happening. Volatility is just high when we are in extreme fear and fear because investors are nervous. What happens when investors are nervous? Good time to buy, right. The other thing is greed happens a lot. Okay, and greed is not necessarily a bad thing. Extreme greed is oftentimes a good thing. Okay, extreme greed tends to have. There's two times that extreme greed happens and one time is a great time and the other time is a high risk time. Okay, the great time is when we have been at extreme fear. The market has fallen maybe the market fell by 10% or something and we're starting to see a rebound and what you'll see oftentimes is the components of the fear and greed index spike and everything spikes, everything jumps up and we get to extreme greed because we've gone from a low level and all of a sudden, investors are committing new capital to the money. Investors are getting excited and we see extreme greed. Extreme greed is almost always good, except when, if we were in some kind of an uptrend okay, we've been, we're in an established uptrend, something good happens, the market kind of spikes. We don't. It's rare that we really see extreme greed during an uptrend, but let's say it happens. Well, that tends to be a period where probably just don't want to commit new capital right now. I probably want to take a breather, wait, because risk is higher. You know it's extreme fear to extreme greed, but really it's low risk to high risk. Louis: But sometimes, as you know, sometimes that greed can be really good too. The other thing yeah, go ahead, sorry, no, no, I was just going to say that reminds me of like the traditional technical interpretation of momentum is after you've had a bear market, you always get to an overbought situation. That doesn't mean the trend's over, it just means the trend's beginning, and it's almost the same concept. It seems like to me to some degree like you're looking for the extremes, but sometimes you have to interpret it the opposite way after a certain condition, after a bear market or after you've had really a lot of fear, and then it pops back up to greed, well, that doesn't mean the trend's over, that means we're just starting to go up again. Exactly yeah, and you have a continuation of the trend. Jason: Right, yeah, yeah, completely. And so with anything, with any indicator, you have to look at it in context right. Everything from an economic indicator, cpi, et cetera. Everything has to be looked at within context. And with that, I think you have to look at the context within the fear and greed index, and that's why there are the seven components, and I actually feel that the seven components are more valuable than that headline number, than the speed dial, right. So we start with and CNN came up with these names and I love it that they did that, because they are so much better at explaining things than I am and they really they said well, you know, here's who our user base is. We want this to be something that is a sophisticated trader can use it. And, as you know, as we heard Katie Stockton tell us several years ago, lots of hedge funds use the fear and greed index, right, they use it as one of their marks to understand what investors are doing. But they want it to be understandable by retail investors, by my dad hundred versus 125 day moving average just to see how far like what is the momentum right. Use that word, it's completely accurate. What is the momentum Is it? Is it so high that it's potentially exhaustive right now? It's so high that it's potentially exhaustive right when we and we normalize it both over the last six months. But then we also go back and we normalize it again over two years to say is that six month number that higher, low that we have? How does that compare where we've really been over a longer period of time? And then we look at, as I mentioned, two measures of stock price strength and stock price breadth. So market breadth we're looking at both 52 week highs and lows on the New York Stock Exchange and then the McClellan Volume Summation Index. So really is money flowing into stocks going up or money flowing into stocks going down? Louis: And what we see is both of those numbers are sitting at extreme fear. Because, those are great indicators. They're such great indicators. Yeah, I mean, I remember back in the day doing a ton of backtesting and those were some of the most robust indicators, all three of them, especially on the new highs it's actually new lows is actually more valuable, in my opinion, based on the research years ago, than the new highs, but just because it showed that extreme capitulation. But those are great and they are complimentary. One is like the number of stocks hitting highs or lows, and then the other one is more. The McClellan summation is also very valuable and it can be manipulated in so many different ways. So and I love that you have three dimensions to that and while you were telling me about this, what struck me is I always try to put things in perspective for the individual investor and for the. You know how they can think about these things and make it useful for them. And I think one of the things that could be useful with this, or is useful for this, is understanding how you're feeling. Like you know, if you've just gone through a period of angst with your portfolio and then you notice that this thing is at fear, right, well, everybody's being fearful and like it's like what are you going to do in your portfolio during that period, right? Well, everybody's being fearful and like it's like what. What are you going to do in your portfolio during that period of time? Jason: Exactly. Louis: You know what how? are just you know how you're feeling, like if you can step away like that fish in the fishbowl with in the water, you know and say, yeah, I'm in the water and you know, and, and this is what's happening, and what am I going to do? And stay level headed. I always talk about like staying level headed is the most important thing as an investor. It's like if I'm overly optimistic, I need to bring myself down and if I'm overly pessimistic, I need to bring myself up. Tom Basso mentioned that to me years ago, who was one of the market wizards. Jason: Right. Louis: Talking about doing that, and I've really that's been probably one of the market wizards, right, talking about doing that, and I've really that's been probably one of the most helpful things for me personally and for advising clients as well and managing money. Just it's. It's it sounds so simple. It's like oh yeah, I know that, but yeah, but do you do it? Jason: Exactly, and that's where it's important to have something that's quantitative and unbiased, right, and I'll tell you a story about that that confirms what you just said. But when we first, a few years after we launched Fear and Greed, I was talking with a financial advisor and he said, oh, I use this thing all the time with my clients and I love it. He said how do you use it? And he said, well, I introduced them all to it. And then, when they call me, when the market is down, wanting to sell their positions, wanting to reduce risk the market's already fallen by 10% or 20% and now they want to reduce risk he says, ok, hang on a sec, go to CNN Markets, fear and Greed. What do you see? And they say extreme fear. And he says, ok, what does that mean? And the client always says, okay, what does that mean? And and the client always says, oh, yeah, everybody's afraid right now. Yes, and what does that mean? That means I shouldn't panic. And hey, let me write you a check because this is a good time to invest. Louis: There you go. So one thing I noticed that's not on here is valuation, which is so hard to time valuation. So this is, you know, valuation. So if you put this in context with valuation, then I think you have a powerhouse, really, because absolutely yeah. Yeah, because then you have that long-term
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Angel Reese got two quick T's that she probably didn't deserve... Plus, a co-conspirator in the Jontay Porter betting scandal is caught by the feds.
On this TCAF Tuesday, Josh Brown is joined by Bill Smead, founder and chief investment officer at Smead Capital to discuss Bill's market outlook, why he thinks Warren Buffett is bearish, what history tells us about the AI boom, and much more! Then, at 38:34, hear an all-new episode of What Are Your Thoughts with Josh and Michael Batnick! Thanks to Rocket Money for sponsoring this episode! Cancel your unwanted subscriptions by going to https://rocketmoney.com/compound Sign up for The Compound newsletter and never miss out: https://www.thecompoundnews.com/subscribe Check out the latest in financial blogger fashion at The Compound shop: https://www.idontshop.com Instagram: https://instagram.com/thecompoundnews Twitter: https://twitter.com/thecompoundnews LinkedIn: LinkedIn: https://www.linkedin.com/company/the-compound-media/ Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Josh Brown are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. The Compound Media, Incorporated, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here https://ritholtzwealth.com/advertising-disclaimers. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: https://ritholtzwealth.com/podcast-youtube-disclosures/ Learn more about your ad choices. Visit megaphone.fm/adchoices
Get 30% Off All Evaluations with Alpha Capital: https://app.alphacapitalgroup.uk/sign... (Or Use Code: TOT) Get 20% off Tradezella: https://www.tradezella.com/?via=waqar (Or Use Codes: ToT10 or ToT20) __________________________________________
Episode Notes In the one year anniversary episode (!), we chat about the use of thin-skinned vehicles in the modern age and the asymmetric nature of the fight. The employment of commercially produced vehicles for conduct of raids and ambushes employing a wide array of weapons medium- to heavy-machine guns to mortars to ATGMs and everything in between. Please note that Toyota outside of Japan does not produce these for purpose-built military employment. And, to my fellow CruiserHeads, I salute you. References: Leigh Neville Technicals: Non-Standard Tactical Vehicles from the Great Toyota War to modern Special Forces Alaric Searle & Ed Nash Kurdish Armour Against ISIS: YPG/SDF tanks, technicals and AFVs in the Syrian Civil War, 2014–19 My Substack Write me at cgpodcast@pm.me
Welcome back to The Muni 360 Podcast from New York Life Investments. Join us as the seasoned, active investors at MacKay Municipal Managers provide valuable insights into the highly fragmented, complex, and inefficient municipal bond market. Follow UsTwitter @NYLInvestmentsTwitter @MacKayMuniMgrsFacebook @NYLInvestmentsLinkedIn: New York Life InvestmentsLinkedIn: MacKay Municipal ManagersPresented by New York Life Investmentswww.newyorklifeinvestments.comMacKay Municipal Managers is a team of portfolio managers at MacKay Shields. MacKay Shields is 100% owned by NYLIM Holdings, which is wholly owned by New York Life Insurance Company. “New York Life Investments” is both a service mark, and the common trade name, of certain investment advisors affiliated with New York Life Insurance Company.
Another record close for the Dow and the S&P 500 notched an all-time intraday high before ending the day lower. Microstrategy's Michael Saylor on bitcoin's rise and his own company's transformation. Former Uber CBO Emil Michael previews gig economy earnings. Chris Verrone, Strategas Head of Technicals, breaks down how the market is positioned while Interactive Brokers Chief Strategist Steve Sosnick on the one stock he says could derail the market. Earnings from Arista Networks, Avis Budget and Cadence Design. Tim Rezvan, Keybac energy analyst, on the sector's rapid M&A pace.
GET THE TRANSCRIPT AND FREE COUPONS FOR PETER'S ONLINE ECONOMICS COURSES AT HTTP://PETERNAVARRO.SUBSTACK.COM Hi. Peter Navarro here with this week's market and economy wrap for the week ending December 22, 2023. The S&P 500 continued its hot streak with a modest gain. Except for an absolutely weird options expiration day on Wednesday which led to a massive one-day pullback, the week offered few other surprises. On the economic indicator front, the Federal Reserve's favorite inflation indicator, the PCE Index, fell for the first time in 2020 and provided further evidence that inflation and price pressures are continuing to cool. On an annualized basis, the core rate decelerated from 3.4 percent to 3.2 percent; and this month's inflation reduction came in right at expectations so the market underwent little change on Friday's news. The Wall Street betting money continues to be on a reduction in interest rates, but after getting out on their skis last week in talking about such possible rate reductions, a gaggle of Federal Reserve officials tried to walk the whole thing back. Good luck with that. The broader context for all of this ... LISTEN NOW TO THE REST OF THE STORY.
What affected the markets in 2023 and what's coming in 2024? Rob Isbitts shares his thoughts (1:00) S&P 500, Nasdaq and looking at technical points (14:00) Are small caps a good investment? (24:35) Which ETF is right for you? (30:10)Episode transcriptsFor full access to analyst ratings, stock quant scores as well as dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions
On today's episode we're re-airing our most-watched episode, Intro to the Three Financial Statements. We've gotten a lot of new listeners to the show, and I want to make sure everyone knows that my best content came first - the deep dives on all the technicals needed to crush your interviews and break into finance.
On this episode of TCAF Tuesday, Josh Brown is joined by Logan Mohtashami to discuss the housing market. Then, Josh joins Michael Batnick for an all-new episode of What Are Your Thoughts! Topics include: tech spending, 2024 recession odds, shorting Tesla, financials breaking out, and much more! Thanks to YCharts for sponsoring this episode! Secure a copy of "The Top 23 Charts of 2023" deck and remember, get 20% off your initial YCharts Professional subscription when you start your free YCharts trial and tell them WAYT sent you (new customers only): https://go.ycharts.com/the-top-23-charts-of-2023?utm_source=WAYT Check out the latest in financial blogger fashion at The Compound shop: https://www.idontshop.com Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Josh Brown are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here https://ritholtzwealth.com/advertising-disclaimers. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: https://ritholtzwealth.com/podcast-youtube-disclosures/ Learn more about your ad choices. Visit megaphone.fm/adchoices
Stocks surge as the year winds down. The looming question - What's next? Jim Welsh, Marco Strategist & Portfolio Manager at MacroTides.com joins Andy Giersher with a technical look at financial markets.Follow Jim Welsh on Twitter @JimWelshMacro and his website MacroTides.comMake sure to subscribe to us on the Audacy app; leave us a review & rate on Apple Music, too! Have a question for host Andy Giersher? Tweet him @Giersh. Never miss an episode from us! Hit the follow button on our Insta & Twitter
Review Core Technicals (Superday Prep Pt. 2)Contact: investmentbankinginsights@gmail.com
The barrier to entry for online "fin-Influencers" is incredibly low, but responsible professional technical analysis covers an immense body of knowledge. In this episode, we dig into the complexity behind John's technical mosaic and the multi-factor models he uses. Yet, the simplicity with which he communicates market conditions and portfolio construction to his institutional clients cannot be overstated. While understanding "the health of the market" allows portfolio managers to responsibly take on risk for clients while maintaining situational awareness of market fragility, ignoring intermarket relationships and bottom-up trends leaves precious alpha off the table and presents career risk. Considering the ~60% rally of US equities off the LTCM low in 1998 to the peak in March of 2000, a lack of breadth is not reason enough to avoid market risk.The long and winding road of John's career on Wall St. allowed him to learn from many notable practitioners from his early days at Lehman Brothers to more recently as a buy-side technical strategist at Fidelity (FMR). He outlines a fascinating genealogy of technical analysts in his "family tree," which he takes great inspiration from and aspires to pay forward that is rooted in Robert J. Farell's Merrill Lynch technical research group. John is a huge advocate for technical analysis, where he is an adjunct university professor and an executive board member of the CMT Association. Enjoy this insightful, informative, and hilarious episode of Fill the Gap with John Kolovos, CMT, CFA!Fill the Gap, hosted by David Lundgren, CMT, CFA and Tyler Wood, CMT brings veteran market analysts and money managers onto a monthly podcast. For complete show notes of every episode, visit: https://cmtassociation.org/development/podcasts/ Give us a shout:@dlundgren3333 or https://www.linkedin.com/in/david-lundgren-cmt-cfa-63b73b/@_TBone_Pickens or https://www.linkedin.com/in/tyler-wood-cmt-b8b0902/@CMTAssociation orhttps://www.linkedin.com/company/cmtassociationCMT Association is the global credentialing authority committed to advancing the discipline of technical analysis in the financial services industry. We serve members in over 137 countries. Our mission is to elevate investors mastery and skill in mitigating market risk and maximizing return in capital markets through a rigorous credentialing process, professional ethics, and continuous education. CMT Association formed in the late 1960s with headquarters in lower Manhattan, NY and Mumbai, India.Learn more at: www.cmtassociation.org
Tom Samuelson, chief investment officer at Vineyard Global Advisors, says that the market is showing signs of breakdown, and while you can still find one or two indicators that are positive, the bearish signs are out and suggesting that there's a downturn coming, though he thinks the decline will stop short of being a "hard landing." Also on the show, Roraj Pradhananga, director of research at Veris Wealth Partners, a sustainable investment firm, talks about how current global conflicts are impacting markets, notably the energy sector, and how that is impacting the sustainable, renewable energy companies versus the fossil-fuel companies. Plus, Lester Jones discusses the results of the Business Conditions survey released Monday by the National Association for Business Economics, and Chuck answers a listener's question about how to bring money lessons to Halloween for a family that doesn't get trick-or-treating traffic so that they can't replicate Chuck's "cash or candy" holiday celebration.
Several big tech names are set to report earnings this week, including Meta, Amazon, Microsoft, and Alphabet. Arete Research's Richard Kramer tees up the results. Plus, what are the charts signaling about the markets? Fairlead Strategies' Katie Stockton lays out the technical indicators she's watching. And, stocks are coming off a tough week for the major indices. Infracap's Jay Hatfield and Franklin Mutual Advisers' Katrina Dudley discuss.
Welcome back to the show, Patrick Karim! To start, Patrick asks, "Why is gold going up if it's so useless?" He shows a yearly gold chart which reduces a lot of the noise and remarks that we have been consolidating above the 2012 neckline for some time and are in a period of purchasing power decline even more acute than that of the 1970s. The chart he shows compares housing priced in gold for a single family home and reveals that in terms of gold ounces, houses are actually flat or perhaps slightly cheaper, thereby destroying the illusion of value in terms of fiat currency. By contrasting commodities against each other, much more stable patterns can be seen. Karim outlines the bullish outlook for uranium and highlights the past outstanding performance of Cameco, but emphasizes the importance of taking time to do personal research to interpret technical charts - emphasising that these can be spun in various ways with different time frames. He maintains that technicals can give one an edge, but it's necessary to do your own work. Time Stamp References:0:00 - Introduction1:20 - Self Censorship4:05 - Gold Long-Term View10:52 - Gold The Bear Case17:37 - Housing in Gold21:03 - Fiat/Silver Vs. Crude23:20 - Different Perspectives27:33 - Heat Map & Sectors31:40 - Energy Vs. Tech34:30 - Uranium Outlook41:00 - Cameco Vs. Nasdaq44:26 - Technicals & Volume52:00 - Trends & Exits58:14 - Wrap Up Talking Points From This Episode Gold consolidating above the 2012 neckline, indicating increasing purchasing power. Comparing commodities reveals more stable patterns. Always do personal research to interpret technical charts. Guest Links:Twitter: https://twitter.com/badcharts1Website: https://NorthStarBadCharts.comYouTube Channel: https://www.youtube.com/patrickkarim Patrick Karim is a proprietary capital manager and chart trader since 2006. Patrick's background in commerce, psychology, and an ongoing career in systems engineering has allowed him to evaluate trading scenarios systematically. His psychology background helps him understand the human factor: overcoming stress, which is mostly responsible for maintaining a successful career.
THE TECHNICALS | Wallstreet Trapper (Episode 59) Trappin Tuesday'sHOME SWEET HOME. TODAY, TRAP GETS INTO BEYONCE, BARBIE & TAYLOR SWIFT MAKING AMERICA GREAT AGAIN. MONEY IN THE CANNABIS INDUSTRY, AND WHAT US & CHINA MEAN TO THE REST OF THE WORLD.MAKE SURE YOU GET YOUR TICKETS @ https://www.recessiontourlive.com/ WE ARE CHANGING THE LIVES OF THE PEOPLE. WALLSTREET LOOKS LIKE US NOW!Trappin Tuesday's The Recession Tour - https://www.recessiontourlive.com/THIS ONCE-IN-A-LIFETIME TOUR ISN'T JUST ABOUT FINANCE...IT'S ABOUT FREEDOM!FROM PAYCHECK TO POWER, FROM STREETS TO STOCKS.THAT'S THE JOURNEY WE'RE ON... WILL YOU JOIN ME??https://www.recessiontourlive.com/Join our Exclusive Patreon!!! Creating Financial Empowerment for those who've never had it. https://www.patreon.com/Wallstreetlookslikeusnow THE TECHNICALS | Wallstreet Trapper (Episode 59) Trappin Tuesday'sORIGINAL VIDEO: https://youtube.com/live/xsWUTWLD9jsWe Trappin!! From the streets to the stock market. Every Tuesday we bring financial empowerment to those who feel like they don't have the power. We are Trailblazing our way to Wealth. History in the Making!! This is the First of Many Shows so Make sure you're Locked in. Wallstreet Looks Like Us Now!! Exclusive Trapper Apparel: https://trapperapparelinc.com GET YOUR FREE EBOOK https://www.trappertuesdays.com/ Trappers Anonymous Group: https://join.trappersanonymous.com/ https://www.thetrapperuniversity.com #WallstreetTrapper #WallstreetLooksLikeUsNow #StockMarket
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