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tv   Making Money With Charles Payne  FOX Business  October 31, 2022 2:00pm-3:00pm EDT

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miracle-ear made it easy. i just booked an appointment and a certified hearing care professional evaluated my hearing loss and helped me find the right device calibrated to my unique hearing needs. now i enjoy every moment. the quiet ones and the loud ones. make a sound decision. call 1-800 miracle now, and book your free hearing evaluation. we all have a purpose in life - a “why.” no matter your purpose, at pnc private bank we will work with you every step of the way to help you achieve it. so let us focus on the how. just tell us - what's your why? neil: all right. i wonder what charles payne was doing in 1976. because he will have to go back to that time to look at a dow doing what it has been doing this month. hey, charles. charles: i think i was going into high school then. yeah. time flies.
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neil: you and my both. kind of the same. how come you look younger? ticking me off. charles: i got a better makeup crew that's all. neil: you got it. charles: this is "making money." i'm charles payne. this has been an amazing october. kneel kind of referred to that but this is the start of a fourth quarter rally? what happens if the rally fizzles like all the other bear market rallies. shah gilani, eddie ghabour all on deck. this could be the economic fall of rome, is this the last days of tech supremacy? the fed rate hikes are even more unfair to middle class than fed rate cuts, folks. how jay powell and company are destroying the middle class. we'll go into this with smart details with danielle dimartino booth. plus president biden stepping up his war on oil companies and capitalism.
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tracy shuchart on the cost of this dangerous political move. what would you pay for a twitter check mark? share with mee @cvpayne. i got a whole lot of good once. all that and much more on "making money." ♪. charles: needless to say it has been one heck of a month for the stock market and everyone is wondering if the cyclical trends, by the way they were perfectly aligned. this is market history in this year's session. then all of a sudden came jackson hole. yikes!. okay. powell of course, he blew this whole thing to smithereens. history went this way. the market went that way. we're sort of in the same pattern right now but if powell says the right thing, many people wonder if we could jump back up there to get it all together? mean while many professionals, here is the thing though, many market professionals are still upset with you, folks, because you're not selling. that the individual investor is
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too excited. there is no capitulation. look at fear and greed. at the greed level. no capitulation. professionals on wall street are really upset. they say that is one of the reasons why the market going to go down. here is another thing that is interesting, they keep saying everyone is saying earnings estimates have to come down. i get you. this is the beginning of the year. earn estimates in the stock market have come way down. these are actual earnings. they held up pretty good. say they start to come down, can they argue maybe it is already built in? by the way speaking of professionals, i want you to take a look at this. these are your hedge funds. for the most part this year they are going against the market. they are net short this market. if they have to buy in, this panic selling, panic buying, rather, could be something amazing. by the way, i think there is something poetic about that. joining me to discuss all of this crossmark chief investment
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cio bob doll. bob, first, i know, listen, you've been cautious on this market but how impressed so far are you with the action this month? >> very impressed. it has been a great month as you know. the rally has been very similar many ways what we saw in the summer from mid-june to mid-august. in that month the nasdaq went up 20%. the s&p was up 15. we have not achieved those kind of levels yet. we may get there but that one petered out because premature expectations that the fed was going to be done, they would pivot. there is some of that creeping in now. i'm a bit on the set call sent call side. i hope i'm wrong but we have to at least test, charles. charles: here is the thing, whether there is a fed pause, i think you think bond yields will stop soon. in that case what does it mean for the bonds and stock market? >> bonds to pause at 4% 10-year
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treasury yields stocks can go higher. i think if bond yields continue to creep higher as they have done the last few months it will be hard for stocks to do well. we need both of them in gear. charles: your work doesn't see the start of a durable bull phase, i'm using your words durable, i like that one, anytime soon. in this sort of scenario then how should someone's portfolio look under these circumstances? >> i think you have to be balanced in your portfolio. you have to be willing on big dips we've had several since this bear market started, to be a buyer and we could get the double-digit runs. this is the third one since the bear market started. you have to let a little go. be a bit more nimble, a bit more of a trader than might be normal in a buy and hold world. charles: if on wednesday jay powell does give a clear signal that they're ready to quote, unquote, step down go from 75 to 50 and maybe you know get to where they're going sooner rather than later does
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that change your outlook at all? >> i think the consensus is 75 week, 50 next. then the debate is do they do more in 2023 or do they pause for a bit. if he indicates they're getting close to the end, will pause for a while, stocks will like that for a period. the question is, does inflation come down enough? my guess it probably won't. which will create more of an issue down the line. we can get inflation back to four to 5% on annualized basis given what the fed has already done but nowhere close to the two they're targeting. charles: i feel, bob, on that notion we'll have to live with that. i think the fed will make a new normal for a while. wall street might adjust to that i don't know where the 2% number came from. it always been there. for years they were beneath the 2% number. could get get to a point somewhere next year okay, 4% is the new normal? >> we certainly could and that has ramifications for multiples
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but means we can take a sigh of relief maybe the economy doesn't have to fold up and create a recession so that is not the end of the world scenario. charles: bob, always appreciate you, especially on a week like. thank you so much. >> all the best. charles: it is the biggest news of the earnings season the beating taken by once unstoppable megacap growth companies in part on the assumption there is a changing of the guard. face it, nothing, no one stays number one forever. i have a great chart from our friend jim bianco in the markets this is what dominated the markets in 1964, it was telephones, 1969, computers, ibm big blue era. it was big oil. don't tell president biden. computer era led by ibm it was there more than once. oil took the lead again. in 1999, technology, computers. of course we all know that. the market fell apart, there was no true leadership per se. then the so-called, i don't know how you pronounce the acronym. , you had facebook, apple,
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amazon, netflix, microsoft and google, right? this is something, look at this, the kind of domination we've never seen, we never seen. so yeah, i know the leaders come and go for this to go would be mind boggling. so is this run over? i want to bring in needham and company senior internet analyst laura martin. laura, it has been one hell of a run. is it over? >> yep for now it's over. these companies, they are run by men who control them absolutely and they cannot stop spending money. we've got cap-ex up. we've got operating costs up and their revenues, youtube revenue was down 2%. facebook total revenue was down 4%. they cannot stop spending money and their revenues are in decline or slightly growing. so right now these companies are earnings per share and returns on capital are plummeting. >> to that point, right, we're already seeing job losses in this country. most of them in silicon valley,
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software developers, marketing, mathematics, science research. they're starting to make some moves there. and so, i think about that, i hear what you're saying. the thing about meta of course, amazon, some of these others, should, why is there this much pushback on the notion that they're building things or trying to build things so they can dominate the future? i mean before those things were sort of rewarded, is there just no patience right now for any of these project unless they generate income right now? >> yeah, i mean think that's fair. i think one of the reasons the hiring is so high right now at these megagiants is because there is incentive for employees to quit, leave firms or churn within silicon valley. historical employer stock price is down 50%, it is smart for you to leave, go across the street to the other megacap giants, get stock options at that lower
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price, otherwise you're at historical employer you're working free for three years because the stock is underwater. they're getting good people cheap but swapping seats between amazon, google, facebook. charles: now it is like musical chairs because some of those seats are being yanked away. let me ask you about a couple specifically. meta is hit again. you have a sell rating on it. how does zuckerberg and company get back in your food graces? >> so i think what i need to see, in fairness to him, he is the one guy here is what we're going to spend in 22, here is what we're going to spend in' 23, if you don't like it get off the train. the stock is down 60% year-to-date. in fairness anybody that sticks around know what they are in for. the only question what happens to cost in '24. i like at that courage. i don't think google is telling us that. i don't think amazon is telling us that.
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they keep saying they want to expand margins but they have the most abysmal margins for all the big tech companies. they're not righting the ship or not quickly anyway. charles: you said amazon is a not-for-profit corporation these days. so apple, we're back to apple being the lone savior, the lone safe haven. is that the place we hide out for now? >> it is, $90 billion of free cash flow. they reported a 42% profit margin, iphone sales in line. macs, all-time high, wherables all-time high. disappointing ipad sales, oh, well, but really nice margins, nice pricing power, nice unit sales, sort of against the odds really. charles: yeah. >> lots of free cash flow. they know how to run a business over there. i think that is a safe haven among big tech. charles: we appreciate you, laura. your job, i don't know how you get any sleep. by the way, great reports. i wish everyone takes a look at
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your reports, they're fantastic. thank you very much, hope to see you real soon. >> thank you. charles: folks the economy and inflation top of mind right now for voters. president biden and his party they're going scorched earth when it comes to the these oil companies and the audacity of these oil companies to share profits with their shareholders. take a listen. president biden: look, those excess profits are going back to the shareholders and their executives instead of going to lower prices at pump or giving relief to the american people who deserve it and need it. i will keep harping on it. they talk about me picking on them. they ain't seen nothing yet. charles: so much irony here that president biden's anti-oil agenda triggered this monster move in crude oil that began the day after the election and has only gotten more pronounced with every stroke of the pen and every action this administration has taken to limit supply. i will bring in intelligence quarterly partner tracy shuchart. i think this whole thing, by the way, tracy, is bigger than just
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oil companies. i really believe there is a lot of folks in the democratic party who hate the notion of corporate profits. they think she should be part of the public domain. they hate shareholders are being rewarded. we saw the big push towards stakeholders. the oil companies make a convenient villain these days, don't they? >> oh, absolutely. president biden coming in, you know, with what he says demonizing these people, i mean this is not how capitalism works and for years these companies were losing money hand over fist, thus the shareholders. the government didn't seem to care too much then, right? so, oil companies are not nationalized in the u.s. which would be a disaster. so they are beholden to their shareholders. that is just the way, that's the way that it works. charles: yeah. i mean that is how capitalism works. and we know there is a big
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anti-push against them. some are wondering though, are you surprised though, they have not been campaigning on profit wind falls and these things like they have done in the past with oil companies? >> it has been, it has been mentioned on and off. we've seen that we have seen europe move in that direction. i think biden is being very careful right now especially near midterms because the oil lobby is so large. and i think you know, in general, just gives him, gives him demon to go after but i think he has to be aware that there is a lot of other issues going on right now. charles: right. >> other than gasoline prices. charles: let me stay on this oil with this whole new political sphere if i can with you, and i want to move to brazil. implication looks like lulu da silva won the election.
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already going off what he will do. sounds to me will do for food what biden has done for oil? >> in particular, lulu and his advisors embraced green energy transition, green economy. they keep mentioning that in their state driven develop men policies which you know, joining a wave of other left-wing leaders in that area and so, i mean his environmental policies leave many questions, in particular to mining and oil sectors. in fact we saw valley open down 3%. it has recovered some of those losses. we have petrobas, the national oil company is still down 4%. so i think that, that sector is really worried. as for agriculture i think we'll have to look more what his policies were because he is again focused on that green sustainability. we have to see if his policies entail things for interest, banning traditional fertilizers
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which we all saw what happened to sri lanka after a few years down that road. charles: it would be to me economic suicide but then again we've already seen europe go down this path. i got about 40 seconds. fomc this week, the fed said hey we may start to step down a little bit. what does that mean in your mind for the areas that you cover? would the dollar get lower? would that help commodities? what are you seeing? >> i think right now we have seen the dollar come off a little bit because the fed finally opened swap lines which i had been anticipating. they had to do something, right? they were crushing emerging markets and contributing to global inflation. as far as commodities are concerned, oil has been rather impervious to dollar moves but it certainly would take the pressure off of, particularly in the metals sector. charles: tracy, thank you so much, appreciate it. always appreciate you. folks coming up at 2:40, rich dad, poor dad author robert
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kiyosaki, will share what you should do ahead of the fed pivot. he has pretty dire predictions. you want to listen to him. he is calling for the u.s. dollar to crash by january. here we go again, the s&p 500 we're at a key pivotal point. can we break out and if we break out where do we go? chart school is next. ♪. your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates
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200 day, mother big matchup there. we'll find out if the third time is the charm. charles: right. >> you mentioned the number 4150, i think if we get to 4180 on the s&p and no, i don't think it will happen in a straight line but i think if and when we get to 4180 here in the next few weeks, so our, maybe a couple of months, that from a technical perspective really would help things align for this to march higher. charles: so i'm keeping this chart up because conversely we've seen a series of lower highs, right, and lower lows and disappontment. what happens if we're disappointed? do we take out 3600 and go to new lows? >> i think there is a good chance of that. right now what is going on we've seen no greater evidence of this being the bottom than we saw in
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june, july and august. as we know that all fizzled out. charles: so the dow jones industrial average, having one of the best octobers since 1976. forget about the 50-day moving average. this is at the 200-day moving average. unlike the s&p which fell apart when it hit that number it is trying to break out hire. where do you think we're going? >> yeah, dow, by far the strongest of the major indices. there clearly has been kind of a rush to these blue chip names. i'll tell you what, if the s&p keeps going that means that the dow is probably going to keep going. so if the dow, if the s&p hits the 200-day, that means the dow has probably pushed beyond its own perspective 200 day and i think that's a good sign. charles: so the main name in the dow now is united health. it is weighted by share price which is really intriguing. >> price. charles: united health at a new high, looks amazing, great
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volume. is this something from a technical point of view because i saw you put this chart out there. it seems like you like it as something people would be buying? >> i think it is absolutely a name you have to look at. like you said, this is 11% of the dow. this name is just as important to the dow as apple is to the nasdaq. when we see it making new highs i think that is a pretty good sign for the index as a whole. charles: real quick, the russell, i like the way the russell is acting. it is sort of stealthy, right? i think a lot of people got burned with this. look at this, unmitigated disaster. having said that it is looking pretty intriguing here like it wants to go up higher. are you looking at small caps at all? >> absolutely. would rather own small cap over large cap tech. charles: wow, that is something good. ian, thank you so much, appreciate it. >> have a good one, charles. charles: all right, folks, let me ask you a question, how much would you pay to be verified with the twitter blue check? there is talk out there, maybe
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20 bucks a month? tweet me @cvpayne. i can't wait for your comments later on in the show. inflation hitting 10% in europe. the head of the central bank claims it pretty much came from nowhere. i can't wait to talk to danielle dimartino booth about that. and also, excess, excess savings, folks, it is the worse oxymoron you ever heard. we'll be right back. ♪ dad, we got this. we got this. we got this. we got this. life is for living. we got this. let's partner for all of it. edward jones
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neil: so the federal open market committee, the fomc has, the next move has anybody on edge. nick timiraos from "the wall street journal" wrote, there is a chance jay powell will bring up or mention a
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stepdown. forget about more 75 basis point rate hikes but maybe 50 basis points. wall street really liked that. that is one of the things that sparked this rally but then over the weekend he also wrote about a dilemma, right? this dilemma, folks, is kind of monday boggling, cash-rich consumers, do you know anybody who is cash-rich? how many households are cash risch? by the way he shared a quote from esther george, the kansas city fed president, the household buffers may allow them to spend in a way that keeps demand strong. again, a little frustrating because, she is talking about this sort of excess savings, right? the problem though, is society at large is going to pay a heavy price because the fed says there is too much money out there. we know already that there are parents who are skipping meals to so the children can eat. savings rate was down, over 20% not long ago.
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excess savings, folk, this is the way it is broken down, top half of quartiles, 50% of households look how much they have. look at the bottom half. to say you want to crush this, that means these folks have not chance at all. i will go deeper than that, because i want to take a look how do you get excess savings, right? according to the federal reserve the top quartile, the richest folks, you know how they got it reduction of outlays. simply means they saved money. go to the other end of the spectrum. where do they get their excess capital? well, fiscal support. that means stimmie checks. getting paid not to go to work but they had to spend money. same thing with the next quartile. they're trying to do the right thing but they're struggling. this is what i don't get, the fed says they will crush the economy, beat it down, beat it down, these are people already saving. this will not be many packed as this green line whittles lower
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and lower looks like it will happen any day now seems so unfair. i don't get it. i think it's a bad move. i think it is hurting the wrong americans. nevertheless this is their gameplan. i want to bring in right now former dallas fed, dallas fed official, now of course, in charge of quill intelligence, ceo and chief strategist there, danielle dimartino booth. you know, danielle. this is just, so lopsided to me. so powell is saying he is going after excess cash, right? there is too much excess savings out there. all of it is here. they got it by saving their money, so why punish them. meantime, these folks will really pay as this economy, as the wheels come off this economy. what are your thought on this? >> so here's simple number for you charles, if you net out income that americans derive from dividends, interest, rental properties, and other type of property income, the actual savings people are sitting on right now is negative 1.0 trillion, negative.
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1.0 trillion. that gives you an idea for the great data points you just talked about that skew the savings into the hands of those who have the most. last december, december 2021, americans spent $525 billion of savings. that is how americans got through the holiday season last year. if you look at savings alone, last friday's data told us we're down to $581 billion. charles, the money simply is not there. this liquidity argument, excess savings argument is bunch of huey, there is a word hooey. charles: i like that word. goldman put out vision of what fed will do, 75, 50, 25, 25. will take the terminal rate to 500. 75 the next hike. street still says 75 after that, still we get to the number the fed is looking at. wall street sees the fed changing their mind later in the
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year. how do you map this out next year? where are you standing with respect to the terminal rate, when the fed stops, maybe when the fed starts to cut? >> so i think what is key here at quill we always said 75 november, come december 16th, another 50 basis points. potentially a pause on february 1st, potentially another rate hike come march. i think focusing too much on the terminal rate is red herring of sorts, charles. what you need to look at, what you asked me last. how long is the fed going to maintain this higher level of interest rates, something that we're not accustomed to. we're accustomed to immediately asking the question when the next rate cut is coming. jay powell intendeds to keep rates at higher level through the summer. charles: we learned this morning eurozone inflation is 10.10%. that is mind-boggling stuff that was higher than consensus. the head of ecb christine
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lagarde said inflation pretty much came out of nowhere. i want everyone to see this. >> inflation has, just, pretty much come about from nowhere? >> do you think about people at home you know, earning an honest wage who work a long week, are you thinking of them? >> i think of them first and foremost. charles: what, danielle, it came from nowhere? these central bank folks, these are the people who are in charge, who can make-or-break economies. she is saying it came from nowhere. >> charles, you cannot be that obtuse. you cannot be that far removed. for heaven's sake there's a war going on a lot closer to her than it is to us, the bread basket of the world has been completely impaired as well. talking about food, energy, households biggest expense, line items. there has been a housing crisis in europe longer than a housing crisis here in terms of what it cost. if it was coming out of nowhere, i pray to god she is not
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planning on going trick-or-treating. she will get the day lights scared out of her. charles: the ability to except any blame really angers a whole lot of people. >> it should. charles: they shouldn't be this wrong, as bad as they missed this, neither one should powell or leg guard. danielle, we'll see you again for our breaking fed coverage on wednesday. can't wait. robert kiyosaki is saying buy bitcoin before the fed pivot and dollar will crash in the coming months. also world war iii on the horizon. can't wait to talk to him. we have a pan negatively experts on what you should be doing in these markets. we'll be right back. ♪ as an independent financial advisor, i stand by these promises: i promise to be a careful steward of the things that matter to you most.
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i promise to bring you advice that fits your values. i promise our relationship will be one of trust and transparency. as a fiduciary, i promise to put your interests first, always. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit there's a different way to treat hiv. it's every-other-month, injectable cabenuva. for adults who are undetectable, cabenuva is the only complete, long-acting hiv treatment you can get every other month. cabenuva helps keep me undetectable. it's two injections, given by my healthcare provider, every other month. it's one less thing to think about while traveling. hiv pills aren't on my mind. a quick change in my plans is no big deal. don't receive cabenuva if you're allergic to its ingredients or taking certain medicines, which may interact with cabenuva. serious side effects include allergic reactions post-injection reactions, liver problems, and depression. if you have a rash and other allergic reaction symptoms,
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♪. charles: while most stocks investors pining for the fed pivot, the fact is that the initial move sees stock market goes lower, every time the fed figures it out, they have to do emergency rate cuts, the economy is so broken. sales and earnings are hammered. the next guest is the famous author of the best-selling book, rich dad, poor dad, robert kiyosaki, he has a warning about stocks, bonds, and real estate. robert, other than that, how was the play? i'm reading you say all the markets are in the process of crashing before the fed is done with this pack aggressive rate hikes and quantitative tightening. i'm curious about, when you say crash, 20% lower, 30% lower, or worse than that? >> well, thank you all, charles, thank you very much. i'm concerned, not about you, me or your viewers. i'm concerned about mr. and
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mrs. average and their kids. you know as you say in your books, unstoppable prosperity it makes no difference what the criminal biden family does or the fed or the treasury or wall street. people like me, you and your viewers will do well. i'm concerned about mr. and mrs. average and today i recommend gold, silver, bitcoin, because as you know as powell raises interest rates the dollar gets stronger but that suppresses gold, silver, bitcoin. so today, as soon as the show is over, i buy more gold, i have plenty. but it is on sale. i think gold is at 1600. silver is at $16? charles: right. >> i remember when silver was 50 bucks. i bought bitcoin at 6,000. so i'm very happy today. >> so but let me get back to the other thing, i'm intrigued obviously about the precious metals side of this, you know, we're already seeing to your point, massive damage in the housing market and this notion
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that the fed is wielding a mallet. they say they can't control it. in other words it's a blunt instrument and they have to pound everything that moves. does anyone understand the carnage they're creating for main street? >> well let me just say this, charles, again, it is what you said in your book, unstoppable prosperity. the issue today isn't roi. the issue today is lifetime income and you know, as you know it is my generation, the boomer generation, the old guys, we're the first generation to have a 401(k) or an ira. so that is why, my friend here, the donald, when he was the donald before he became the president in 2006 we wrote this book, why we want you to be rich. by the wear we're the first or only two gurus that recommended network marketing as alternative to lifetime income. charles: right. >> and then i wrote this book here in 2013. the reason i bring up my books
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because i'm not a new guy to this doom and gloom for cast. i've been doing it since 1997 with rich dad, poor dad. trump and i got together in 2006. 2013 after the great reset, wrote rich dad's prophecy about the biggest market crash in history is still coming. it is here now, charles. then in 2020, i published this book here, my friend ted sidell who tell my pension. as you know today, charles, the issue in london which caused a pivot when they raised interest rates, the english pensions nearly collapsed today. today the german pensions are collapsing. japan pensions are collapsing. if biden and keep screwing around, the u.s. pensions are collapsed. in fact they are already been stolen. charles: yeah. >> i'm concerned about the old guys-like me, what do you do for lifetime income? charles: so i got a minute to
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go. old guy like you now talking about bitcoin, yet we do know that central banks around the world are forming their own digital currencies. i think they're trying to usurp the movement to put that in there. are you concerned people buying bitcoin may be pushed out by you know, the sort of centralized digital currency by on both sides of the atlantic? >> i think anything is possible in this nuts world right now. i call it the biden crime family but, i think we're all centralized government right now. i'm a u.s. marine. i flew for the u.s. marine corps in vietnam. i fought for our freedoms. our freedoms have been stolen right now. charles: yeah. >> that is why i fight back. we've got to do something. bitcoin is due to blockchain. blockchain is an auditing system. i better be careful, because when we come to cbdc, central bank digit call currency, another way of communist control over our lives. charles: certainly will be control, no doubt about it.
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robert i remind the audience, rich dad poor dad alone sold 32 million copies in 50 countries. you have something of a track record. appreciate you sharing that with us. thank you very much. >> thank you, charles, keep up the good work. charles: folks here is a question for you, how much are you willing to pay for a blue check mark on twitter. a tech ceo says think could go for 49 bucks a month. tweet me @cvpayne. november first, an analyst says if you buy stocks you will make money next 32 days. the track record is 32 times out of 32 times. shah ghailani, robert luna here to weigh in next.
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charles: so the market obviously on edge right now, the fed is in focus. hopes powell will begin at least a long pivot. the first part is a so-called stepdown. the stakes are high. we see what happens, the bear markets when they run out of steam, it ain't pretty. i want to bring in money map press chief strategist shah
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ghailani and eddie ghabour. i want to start with you, shah. you have the cool matrix background going. it is luring me in. are you buying anything ahead of this fomc decision? >> i think we're going to pick up some call options on maybe some of the indices, because it is possible that we get a felt-up here, charles. by that i mean, if the fed doesn't say anything hawkish, it doesn't apply, the language of some, anything to do with stepping down or anything to do with terminal rate being anything, i think eventually it will take that they're not messaging enough, which means they're probably not going to tell us maybe december they will step down they don't want see the market go up, the market interprets that as being bullish. so much money on the sidelines. if you buy calls on one of the bench marks spy, qqq, wim, you get a crash, melt-up crash you
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will make some money on this. that is certainly one way to play it. >> charles: eddie, you've been bear return, right, you have saved people a lot of money, when would you be ready to pivot? >> i don't think we think bottom in the market until the first quarter, second quarter of next year. this week from the short term perspective, the fed gives indication of a pivot, we'll see another 5% rip in the market. i would be selling the hell out of that rip because they can't change the trend of this market, this economy. i have to caution everyone betting on that, one thing i'm worried about, where the fed pout themselves in a position where it could seem as though politically motivated, if they make a pivot, week 1/2 before an election, after they told us, meeting after meeting they are not close to done yet. charles: sounds like you think they have credibility? >> that is real problem then. charles: eddie, they have got no credibility, my man. let me stick with you, real
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quick. i know you are looking at something. looking what i'm saying government, corporate debt, these yields are pretty attractive, anywhere from 4.6, 8.9%. tell us more about that. >> i think the real buying opportunity is going to be in the fixed income market before the equity markets. investors have been starving for yields over a decade, especially retirees. when you look at some of the yields on these corporate bonds we have been dollar coast averaging into treasurys. yields are going up, why we're dollar-cost averaging. the real home run on the corporate side. towards the end of this year, beginning of next year, you could see corporate debt, investment grade paper, high single digits, going into double digits as the economy gets worse. from a portfolio construction perspective you could have an investor take 30 plus percent of their portfolio. that yield may generate as much as the total portfolio would in this normal environment. that allows them the luxury of
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taking a lot more risk with that 60, 50, 70% that is left because retirees have been forced to take too much risk in my opinion because of this low yield. charles: right. so, shah, anything else looking intriguing to you? we're halfway through earnings season? i always make a list of names that catch my attention during these periods. what else are you looking at? >> we're using puts. we're selling put options and hoping to get assigned at lower levels. the market has more to go on the downside. meantime if we sell puts, get a rip higher, we'll buy the puts back for a nice profit. we're doing that for amazon, intel, rio tinto, microsoft, bunch of plays we want to get into in lower levels, do this again at lower, lower levels average down that way. if we get a rip, we buy back puts we sold short, make a profit out of those. charles: i got 30 seconds. larry williams says if you buy the market tomorrow, hold for
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two days you will make money. it has worked 32 times out of the last 32 years. does anything like that entice you? >> not really. those numbers are all fun. that is not something i would play. i would play heck for it, calls are cheap enough, buy a few calls. charles: eddie, you're saying sell the rip. >> that's right. >> my man, you have the track record. you have been doing it. thank you both very much, appreciate it. i asking all throughout the show what would you pay for blue checkmarks on twitter. some responses are amazing. i can't wait to cheer them next. ♪ thinkorswim® by td ameritrade is more than a trading platform. it's an entire trading experience. with innovation that lets you customize interfaces, charts
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