5 Essential Financial Moves to Make Before 2024 Ends!
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Good afternoon, fellow investors, in a welcome back to invest talk. This is our friday no november 42， twenty four addition. Thank you all for tuning in as we close out this full first full week post election and the interesting one, both with your headlines but also market move.

We will unpack all of this throughout this hour, but most importantly, what we will be doing this hour is answers your finances, investment questions and bringing you some sort of perspective as well as data that can help you make Better decisions with your money. And in just a bit, we are going to look at the market performance forward today and the week and then run down the broader show topics. But as usual, will tackle our first color question now.

and let's talk ahead a question about draft kings. IT is D K, N, G. Uh, like you guys to take a look at this. I know IT is expensive, but as a speculative play for a long term hold, what Price target do you think would be a good opportunity to take a position? I'll listen on the show and thanks, guys.

So what I do with these names, I tell you how I kind of approach these growth ier names that are approaching profitable ability. And that's really what's happening here with draft kings through the last four quarters. They ve made money, but they are so to still lose seventy two cents to share this year, okay, but then make a dollar three hundred ty five cents next year.

But it's said about a forty doll stock, thirty nine eighty four th clothes today. So you're talking about eighty times for looking earnings. Now they are growing their revenge by thirty, forty percent year over year.

And so if you if you if you continue with that, then you can turn into a really, really good business. And if you look at the multiples is treating other times of multiples Prices sales, is that for hi, but not agreeable. okay.

So that's that's a positive there. Free casual is now positive, but profitable matrix remain a negative. If I look at the shares outstanding, those continue to go up.

So more delusion of shareholders. So that worries me a bit. Um but how I handle these companies is really more about the techs. If I believe in the name, if I believe that this growth will continue, then it's teches and and that follow through right with the actual performance of the business, then the technicals generally are going to remain bullish throughout. and.

What I see with draft kings is pretty much since the highs back in when was this march, April time frame when I was around forty seven, fifty dog per share. Since then, it's gotten much weaker. The technology are poor.

Uh, you have earnings exportations are mixed for the budget this year and next year in their trajectory, higher for this year but lower for next year. Next year is the most important one, right? How what is that profitability look like? This actually good there as cash flow turn consistently positive right out forty eight million, but that's kind of flat out.

okay. And that's what worries you are. I think this growth is kind of flatting out. Why are they issuing more share? Is still they have a good baLance sheet? Um but for now, I don't have a number because the technology are just neutral to poor and so I would want to a Better tactical set up for me to um get in to drafting king says D K, M, G. Thanks for the cop.

Now we have a lot of ground to cover over the next forty five minutes or so, and our main focus point will be about five essential financial moves to make a for the end of twenty twenty four, maximizing retirement contributions. For example, reviewing your investment strategy are two of the five vital tasks that you should complete by your end. We will get to all of those.

In addition, I want to cover few other things. What is small caps? Small caps have outperformed since mid october.

It's basically since the market was starting to Price in a trump Victory. I ve suit. Got that.

And the question is, why are small cuts are performing and that can that continue? So will look at that also. The fed fed will come into focus as we had to uh, no december.

We do have one more fed rate fed rate decision by year. And and right now, the fed is expected to a cut rates by a sk, about sixty percent chance, no cut rates. So no longer when I will see eighty or higher.

Okay, that's the market saying, yeah, that's that's Price in that's pretty much guaranteeing when I starts to move off that then is the market backing off that, uh, that stands in Frankly, one ago, the foreign a quarter roughly on the fed funds was an eighty five percent chance. Now is only a sixty percent chance. So we're going to learn more as a power and other fed members speak in public.

And there was a recent uh, speech by da one power uh and he spoke a little bit about potential path for interest strates. So start to look at that ah because ultimately that will have a huge impact on the dollar and obviously that policy uh will have an impact on liquidity and markets as well. Now we have voice bank questions we will get to as on null industries in francklin india etf F L I N, and they will get to some questions that came in via our youtube channel as well.

And of course, most importantly will be your live call. So I encourage you to reach out right now. They were going into a short break and on the the side, talk about today's mark activity and they will blame more questions for you on the best talk and give me a call once again. eight.

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I think a quick look at the markets forward today as we closed the week and I was decidedly negative overall. And if you look at the S M P, that was down one point three percent on the day. Um you had to ask that down two and a quarter percent.

That's really where the weakness um was concentrated across the markets. And I think that is pull up here. Go yeah yet.

Amazon down four percent on the day. AMD down nearly three percent. Brog come down over three percent ad vy that was down two and three quarters. So health care certainly continued its weakness and do be down over five percent on the day. Applied materials, this is on the back of the uh S M L uh earnings a couple weeks ago and that there is support guidance there.

And a math play materials is another chip equipment manufacturer and that was kind of the double wai within the chips space and the chips overall, where week video was down three and a quarter percent on the day. Microsoft down nearly three met IT down four percent. Tested was the one higher after the cell off yesterday.

That was up for three percent on the day. But definitely some broad base weakness, especially for the the smaller caps. You had smaller, sorry, large caps with me, small cap s were down about one and a half percent on the day. And certainly the weakness was concentrate on the growth side. The market you value large cap value was only downside three percent the day where as large cap growth is not over two percent.

So you know one thing to understand this is apex okay something that is greatly underappreciated about near term market moves has to do with uh something we call market structure um and option option do you know option market is going so big ah that dealer activity is very important. And when I say that when dealers are selling options, they also hedge their position by buying the underlying stocks of the gama hedge. And so as closer to an option options x period, often times you get those dealers unwinding their their hedge, meaning unwinding the long positions in the market.

So you get sell us around to be going into the last couple of days of a bex like the last, but you seen to IT today and yesterday as well as the following week as well. And so I could easily see, you know, uh, this correction or if this this pull back from the truck bump and continuing into next week. And that's something in addition to the the the game of heading part.

Uh, there's a there was a lot of risk involved, the risk Priced into the election that there be some sort of contentious election that IT would not provide a clear winner and there would be political violence. That said, I obviously, that didn't happen and that was overblown. Um but what happens when that volatility is comes out of the market? It's compressed, asset Prices tend to rise, is they come less risky.

And so that is another aspect of the trump bump. I would think the market went out because a of trump was elected. Sure things. I think sectors moved in, in parts. The market moved because of that. But in general, the market moved because there was an unwind of site that the lack of realization of that risk that was Priced in. And so uh, that's what you saw mainly.

And so now you're getting to a more orderly market is you're kind of getting past that and now the market starting to um sorry to hand cat, especially worth a lot of the trip appointments this week. You know what future policy will be? Uh one good example is uh lucky Martin uh and the other defense contractors.

Those are uh week. I think that's on the back of the tosi gabbert uh appointment to the uh, intelligence head of intelligence and clearly there is a potential for less hawkish uh, defense department and intelligence department. Is that a so um yeah that's kind of what you're the surface of those movements.

But general A A lot of what happens in the near term, like I said, his market structure based. But the media likes to throw narrative behind IT because it's more. Now let's pip IT over to a question that came in via youtube channel comment section.

I Z A, tipton says, very curious, which thoughts on zebra technology? Z B R A, i've had around thirteen, one of my portfolio, so I know I need to trim, but I really like the business. I think a lot.

Run, could you value these companies future with within space? I love this question because this is actually on our our watches, a name that we would like to own now has run. We do think there would be a pull back to buy this over the next six months or so, but I do we do like the business now for everyone out there.

What they do is that what you going on a market cat, they make direct thermal and thermal transfer printers, ers and RFID printer er codes and card card winners. Um so this goes into uh goes these these are um basically R I fight readers with their main business and goes on to products and allows supply chains to move along efficiently and effectively when you bring and I think there's a lot of secular tAilings here bringing manufacturing back to the U S. Of most importantly is the data.

The more that manufacturers can track, move in other products, quality other products at seta, the more data they can get around their supply chains and manufacturing capabilities, uh, the more that they can improve upon them, especially with A I right you feel that data into A I and I can tell you some things about your business that maybe you didn't realize ah that can squoze out efficiencies in in lower costs at set around. So uh, I think um we really like the business overall and has got a bit of a head itself in the near term ah, but we we like IT. So um you know IT is so in a bit of weakness uh, since the the truck bump.

Um fact, it's almost an around trip from a the election. A H. So I do think technically you could start to see a pull back in the near term, but I would I would do you hold IT, but I certainly of your portfolio is too high and I would use this opportunity is to trip they are moving in to a brick till to come on this podcast and radio show on a happ pony. I will tackle more of your voice bank calls and get to our main focus point as well. So stay with me, but give me a call at eighty eight, ninety nine short.

Your questions are free, the answers are unbiased. Just incline is here now ready to take your calls live investor eight eighty eight ninety nine chart.

Now I made focus point today has to do with year and planning. We only have why ref, six more weeks left in the year, six, seven weeks. And there are always deadlines that are december thirty first.

And that means that you're you upon in the clock in some um respects in will look at five of the most important aspects to check off as we had into year. And now the first would be simply rebalancing. You know, we've had a good year for equities overall.

And I think because we had into next year, there's I think a bit more uncertainty, you know certainty around the election. Yeah but um you know we have administration that is whether you like IT or not ah, you know things a bit differently and you know that different can turn good and but as you know, different can turn out bad as well, you know. So I think there's just A A bit more volatility to the potential outcomes of the of the overall economy as well as different sectors, right?

Um so the bouncing your portfolio away from assets that or asset classes that have done fairly well and put them more into areas that are that you're under weight, okay. So chances are you might be overweight. Large cap growth stocks.

And for retirees, this might be an opportunity to take some of those chips off the table and move them into fixed income and cash for near term needs. Okay, for the next twelve, eighteen months or so. okay. Now if you are Younger, investor IT might not be reducing your overall of exposure.

IT could just be rebalancing IT into other parts of the market, right, reselling some of large cap growth into more values side of the market or maybe smaller companies at set, especially now that small caps are starting to outperform. okay. So that's job number one.

As we hadn't tear and and and try to get those portfolio waiting in line, the number two would be R, N D. And this is you can kind of uh uses an opportunity to do both, right? So you have I rs.

You can trim some of those positions um within your IOS that you know no tax consequences there, but you're going to take money out of your R M D anyway be a tax tax consequence um but this is freeing up cash for those r nds. okay. And um then number three would be your company retirement plan.

You have by december thirty first to hit those of those limits. So if you're under the age of fifty, the most union twenty three thousand, if you're over the age of fifty, thirty thousand, five hundred, okay. So look at how much you've contributed.

Maybe see if these last couple of paychecks for the the year, you could up your deferral and try to max those out as much as possible and to ate each other department and do that for the short term and then return IT to a Normal level once you get into january. But obviously takes time to do that. You might have two, three payments are paychex left.

And so see if you can max, you can afford IT and max out of those workplace retirement accounts and then insurance insurance coverage. You have opened a role probably for your health care plan at work as well as medicare. A open a rollman happens until december seven.

So actually look at that opportunity, choose new medicare vantage plans, opt into original medicare or vice vera. So revisiting those plans and then your whole insurance coverage, not just health insurance, but you do have disability insurance. See what needs to be covered, right? You might have put that disability insurance in place five, ten years ago.

And IT may not live up to the amount of money that you're making now or your needs if you do get disabled, right. The same thing of revising your property casually, insurance, shopping around, making sure those are the right amounts. And then lastly, charitable deductions you have do that december thirty first as well.

You can take a manager of something called to qualified cheerful distribution from your I R A. okay? So instead of taking a hit on on those distributions, you could put those into those q cds as well as done or advice fund.

This is a good way for youtube, a donate a highly appreciated assets, not taking the tax hit on them, but instead doing those directly to directly to a charity or through done advice fund where you still control, we can manage done advice funds for for anyone out there if you ever um have any questions on that but don't advise funds will allow you to manage the portfolio, invest the assets and give to a charity at a later date to take that reduction today. So that's something to consider. Well, now it's briefly mention the U S, K.

Ppp news that IT be distributed tomorrow. In this week is in the K P. Inside section, we discussed copper.

And in the stock market section, we mention a monitor security company and an industrial manufacturer. In the portfolio magine section, we touch on AI in finance. And if interested, learning more, visit us at best.

Talk back, come to subscribed the use that will come to your inbox every saturday. Now on the next of the stock we look into this topic. New R M D rules for retirees in twenty tirely will be impacted by significant changes required, minimal distributions in the secure to point act.

That's monday, but for now, i'm just in climber to take your calls right now. I did that. I knew that shot.

Justin cline is here and ready to tackle your questions. How are you .

saying multiple times that you prefer a shorter duration pressured bonds? Can you explain to me why .

IT is more a visible call investor, a ninety nine years.

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The weekend is here or almost here, but you've got finance and investment questions. So step up and calling investor eight eight ninety nine chart.

Hey, look from california. I know you guys have been talking about terror after the election, and I was just trying to see what you guys think of investing in international fund. I'm currently in india and mexico fund, with F L I N being my indian exposure and F L M X as my mexico exposure. Each are roughly about three percent of my holding. But i'm just wondering what you guys think now of the election over on respond and whether I should add as they both pull back or if we kind of assume that you'll go further down preciate your input and look for to your answer?

Well, I like the idea of both. I think both countries have good secular trends behind them, mainly demographics. Both have very Young populations.

And you compare that to most of the developed world and even many parts of the developing developing world. Think of china, right? China's demographics are terrible.

Uh, mexico and india have a lot of Young people and sound populations. And now india is obviously in more volatile part of the world and that becomes a bit of an issue. And historically, they have kind of corruption issues and infrastructure issues and things like that.

Mexico has no some similar problems, but I ve been close to the us, are big, big advantage for them. And being from a security standpoint, you know, so far away from, you know, the major problems in the world, that's helpful as well. So I like both.

The issue near term is just the dollar, right? The dollar strain. This is not actually going to take the wind of the sales of pretty much any foreign markets.

So you know these are always hard to time because not only are you timing the the economic growth in the quality the businesses that are that are with in these names, which also timing the the currency fluctuations um so these are more like longer term locations and have no problem with either. Like I said, I think both have good long term secular tailwind. So I won be um I want to be selling any of them um if you but you have to stomach the voltige ity.

okay. Um and these are pretty good exposure out of all the potential exposure that are out there in the in the foreign markets right now. Now on fridays, we generally make time to fit in a quick run down as some key benchmark number is.

So let's do that right now. The two year yield four point three percent. The close that's up from four point two five percent at the clothes last week.

So you continue to see those two year yields march higher. And what that is telling you is that the fed cutting cycle is continues to be cut short or is likely to be cut short OK. So that's what that march ire is telling you.

The ten year to four point four three percent on the close of the week as and that's up from four point three, roughly one percent point four point three one the cause of last week. So that was up even more. You at the yield curve curve steep in obvious, the market is either called in two things, stronger economic growth going forward or the fed treasury losing the long end of the yielders curve.

I think there's two ways of looking at this um and this kind of up to interpretation at this point. Gold twenty five, sixty two and out that was down from twenty six eighty five pretty. Uh, they put back there also.

Once again, a dollar, strong dollar are certainly bringing the winds, taking the winds out of the sale in the gold market. But overall, all the technicals remain a bullish for gold, impressive metals over all. So over thirty dollars and thirty two cents prints the close this week, down from thirty one, twenty four the previous week.

Same thing just to pull back to the one hundred and moving average on silver, still in a broader up train of higher, higher, higher lows. Oil sixty seven, twenty seven out her cell per barrow and that's down from seventy dollars and thirty eight cents last week. Obviously, uh, there's maybe that the market is pressing in a more more drilling, more supply coming on.

Market is set a oh, that was A A week, a week week for oil. And the amount of gas or the Price of gas nationally is up to three dollars and eight cents, or shall I say, down one cent from last week, three dollars, eight cents here in ca, forty four dollars and forty seven cents that's done four cents week over a week per conversion. In north CarOlina, a gas is only two dollars in ninety two cents per gallon and that we d definitely some clients out there to cling.

Actually, college friend of mine, mike, hopefully you're listening. And he lives out there in north airline IT. So that was the rundown of the of the economic numbers for this week.

Now let's touch on small caps. Small caps got the most trump bump over the past week or so, and they've surged really since mid october, outperforming mid and large caps over the last month. And one standard argument for White small caps, typically far Better in a lower rate environment, hasn't really held uh saying we will set off for interests go up small caps.

Uh debt burdens are going to um increase because they they they h issue on the junk point market h they issue a they not locking in their um rates for for very long. Uh and so they after refinance at this higher rates, will the reality of small caps， debt burns actually fell over the past few years. So hie and trades actually have not hurt them very much.

In fact, what's happened with many of them is that they're Operating leverage has allowed them to have good cash well in set to pay down their debt. And so that's been pretty prudent and great for them. That's a one interesting little shift that a narrative often, sometimes doesn't really drive with reality.

Don't always follow just the narrative. Now the market consensus so far is that president trump will be a will be a boost for growth, economic growth. And smaller companies tend to be more economically sensitive to those larger ones what times they have the Operating leverage that I was talking about.

And so Better economy means more to the bottom line of these companies. And then on the tax front, corporate taxes, they tend to help smaller companies more than big ones. Why is that? Number one is they tend to generate more the revenue domestically.

So we have domestic tax cuts. It's going to impact more of their revenue. If you have businesses out of the country, a domestic tax cut isn't really good.

Help you because you're going be text based on a you know where that business is, doma, where that business is happening in europe elsewhere. So that's number one. And number two is large and even sized companies.

They have a team of tax atterburys that are already streamlining their their taxes in finding every right off and finding every way to to save a buck from the irs. And so a broader tax cut isn't really going to help them because already taking range of most loops where as smaller companies, they they can't really afford that as much. And so those those tax cuts really impact them more.

And in fact, golbin sex put out a report about what sectors and as as well as which parts of the market are more sensitive to the tax rate. And the most sensitive was the russia two thousand of small cap index. You know, interesting.

Next to that, he was consumer directionally companies, and then communication services and financials and industrials. Then the S M P, kind of middle of the road there, and nasdaq was even below that. So mazda is IT was impacted even less than the S M P.

What IT comes to a Better, Better tax rates. So I thought that was very interesting. And actually technology and materials are the two worse that uh, will be impacted the least by a potential tax cut.

Now what else could help small caps? Number one are is is a eminent right? Small companies, they tend to be brought up. And so if ma is less likely to happen and there's less potential premiering, built into a potential buy out. And so you're getting a little bit of a uh uh, a boost up there uh, that the odds of a the small, small companies being acquired has got to have a little okay. And so that's number one then regulations.

Regulations often uh, are a reason for small companies to be burdened right in the cost of that regulation often ways heavy on the smaller companies because they their compliance department ever is within their industry to make sure they're in compliance IT spread among the a lot of workers and those bigger names, okay. Uh, and high exposure to industrials expect are expected to do well are under the prominent strategy. A lot of the small cat have industrials along energy banks and and and those are the industries that are are likely to benefit from the trumpet administration and those are, hey, heavy concentration in the small cat induced as well.

And then if you're looking at immigration and terror policies that might be negative to the overall economy, what that could mean? Good things for a lot of domestic company. So that's why you're seeing small caps do fairly well. It's A A sector perspective as well as a regulatory perspective that the market is giving that boost to those smaller cat names. And the back in the west voice bank IT never closes its eight, eight, nine, nine short.

Hi look and Justin long time listening here to the show from the midwest, looking to add some industries to my portfolio. You guys been talking about those for while and I believe they're still a good area to get into. Hopefully that's correct and hopefully you still feel that will be correct under the new um presidential management coming up.

I've been looking at just some funds believe in both E, P, S, that is V, I, S and X, L. I is wondering what you thought of those funds and their holdings and the dividends and everything. But then I heard luke talk in the other day about a good industry fund.

M, I believe IT was ml. Do you feel would be Better for me to get into one of these e tf? Or should just go for the straight stock in the mi? Thank you for your answers to my questions.

Look forward. Delicate do on the show. Have a great day.

All right. Looking at the industrial space, would you like the industrial space? Now this got a trump mp, but it's starting to fit a little bit.

So where we're waiting a little bit, I think be aggressive into the space and still a lot to be, uh, a lot to be figured out. Uh, I think the simple narrative that trump is be good for equities is overly, overly simplified. I think that I will be will be good for certain industries, and I think they'll be industries that he's going to be very bad for.

And so um like that you you you're targeting an industry that um uh a part of the uh market that uh likely will benefit from a trap ministration, but that also doesn't mean it's come a straight line either. There there is often times a good news and badness that comes out a with the these priorities. And it's going to it's going to hit these sectors in rolling waves right now is the one that's going to hit the most is a is health care, especially farma because of R F, K being they had of uh, health and human services.

And so you see I Y H, the health care etf. That's the last level since june. And so and there is probably going to be a period where that's that's Price in and maybe the Marks got over born and maybe his as aggressive.

This is as hard as as most people are, uh are are pricing or are are thinking the same thing with industrial right happening other way got the bump, but is not going to be as clear cut as as otherwise. I don't think I don't think it's going to be as circuit, and I think it's going to be have some volatility. And now when IT comes to which one to buy, whether it's the one of the etf or M, L, which is mulling industries, they make proper tube fitting for H H, vex, refrigeration, plumbing markets set up up.

And you know, my issue with Miller is always that, yeah, got this big bombs in covin mean ninety cents a share in twenty nineteen, but made five eighty two and twenty and twenty two five thirty last year. So make five twenty this year in five thirty next year. So earnings of kind of flattop here and is trading at a dolge for share.

So to pay market multiple for a company that's pretty voto uh from from an earning standpoint, uh, in cynical. And then the chart is starting to get little tired. So I don't think Miller would be by horse and think there's Better ones out there that have more history of earnings at this level.

I think this is could potentially be more of a flash in the pan type of COVID bump. And that's IT always the most worried, the most about still a good company, still good profitability could baLances and set up up. But I rather own right now just a broad base etf.

Um I think that would kind of filter out a lot of the noise that's going to happen within this space. So I would go with a vision, an xi, something like that ah over a new ler. Now from time to time, we also receive investing questions via email.

And years when they came in from big g north CarOlina says, should I buy 我 gas and hard assets？ A lot of our ira and cash money market of thinking about gas pipeline producers, contractors as natural gas, clean energy source. What is your recommendation? Yeah we love those businesses.

Uh, we've owned one of them for a long period of time in uh many of our are our uh investment accounts are our our strategies. And uh, you got a bump, big bump during, uh, postcode and that postcode post the election. One went from the nineties all the way about one close today.

So is IT had A A nice move and I think those will be more durable, especially because yeah trumps going to want to allow more drilling. Doesn't mean that still is going to happen, but uh IT will to continue to be gas flowing because we need to a power R A I uh data centers and cloud data centers. Sea um and obvious ly trumps is not against the oil and gas.

So I think that space is a great, good place to investing for the long term. Now as the thought of just in client, we have one goal here each every day. This help you achieve your conversion of the freedom. And I work continues after this final breaks, which questions now at eight, eight.

Every investor is working to build a secure financial future. The more you learn about how the market works, the Better your chances for success. Invest eight, eight ninety nine church hey.

Justin and look, maro from new york. Love your show long time listener, just have a question about a company. U G.

I. I'm trying to invest in energy as you encourage. This is A A gas company and its really focused in tension.

They have natural gas and and things IT just seems like a good business is kind of recovered from the co good high. Ah so it's paying a healthy divided six percent. I know not buying IT just for that, but that's a nice yld.

And I anticipate over the next five years that I could continue to grow its business and and have a good return. So this one has to know what you thought about this like A A smaller a regional play on on the natural gas recovery over time. What will you do? Thanks so much. I'll listen on the show .

looking at U. G, I, corp. And it's holding company hazard as as many businesses. One is transportation and marketing of energy and related services, mainly ropin, and they also have a natural gas and electric distribution company regulated utility.

And so you know this is a name that yeah I like what you're thinking, but this is I think they are wrong horse uh because if you look at their business, it's actually pretty poor. You know revenue is last quarter were down seventeen percent year over a year. Earnings last year down two percent after being down two percent a year before earning only.

So to be up four percent this year. IT is a smaller name, about five billion dollar market cap. And then if i'm looking at the baLance sheet, y've a lot of debt on their baLance sheet, cash low four and or forty four million.

The problem is, is that you know it's just it's just too levered, okay. And that dividend, I don't think it's going to be sustainable. Maybe I don't know, I just the charge is very neutral, which is kind of gunsight ways.

Um its profitability is and return vesc capital five percent, which is not horrible but not create return equity around fifty percent that's good. But you the is the medium is around thirteen percent over last ten years. You know it's not bad.

No, it's not bad. It's just you said can grow over the years. I don't see growth. You know I don't know where this is going to grow.

I just think that if you're looking for natural gas, there's much Better opportunities out there, you know and actually get pipeline companies, for example. Um so property distribution, I think it's really going to be it's propping and be used more under trump h for any particular reason. I don't I don't seen any justification for that.

So in its utility company as well, which is kind of a boring business. I just if you're looking at the wrong horse, you're you're in the right facilities of the forest, right? But just bark up the wrong tree if you need to keep doing research and find Better opportunities out there.

Thanks for the call. Now let's touch on Jerome's speech and he was very interesting. IT was yesterday and he said the economy is not sending any signal that we need to be in a hurry to lower rates.

So the strength we are currently seeing in economy, is this the ability to approach our decision carefully? That's interesting, right? Where are the risk in the economy more baLanced? But he saying that there is strength in the economy, which just make a lot of sense.

Now the first meaning will be december seventeen eighth, so a week before Christmas and that's when we'll make her for the decision on potential final rake up for the year. Like I said earlier, that would be sixty percent chance currently that they will cut uh on in december. But now there's only two more cuts Price in for next year.

okay. Um I am starting to think that they don't cut in december. That economic news has been fine.

And I also think politically kind of makes more sense to wait if you think about IT not sure when the jane uy meeting or soon the january meeting, january twenty, that be after inauguration, I would imagine that he want, you know, I just think of trump, trump would want to see, hey, you're cutting rates. You trying to help me out start my administration. I think you'd rather save that bullet for that january meeting.

But what's most interesting about this is a whole i'm stepping back. That's the in manual of the decision and the political environment. It's more of hate the feds executing less, David, as part of the reason rates have gonna and so and part of the in the dollar is gone a as well.

So it's a very interesting shift here in policy, and I think it's becoming a lot more neutral than the market is expecting just a couple of months ago. Now i'm just in lin is another investor program. We thank you are listening, and we encourage you to tell your friends and family about a free podcast down those which you find any time itunes spot play and rebel.

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