In this episode, Bill Gundersen takes us through a detailed analysis of current financial markets against the backdrop of escalating trade tensions. Discover how tariffs imposed by the U.S. are impacting international relations and influencing market movements. With expert analysis on Apple’s manufacturing decisions and an insightful discussion on Japan’s emerging bond market issues, listeners are equipped with the knowledge to understand and navigate today’s financial uncertainties.
He’s been seen on CNBC, the Fox News Channel, and the Fox Business Channel. His articles can be found on MarketWatch, Seeking Alpha, TheStreet.com, and many other places. He’s the author of the weekly Best Stocks Now newsletter and the inventor of the Best Stocks Now app. He’s president of Gundersen Capital Management. Here is professional money manager Bill Gundersen.
SPEAKER 04 :
And welcome to the Friday, it is the Memorial Day weekend edition of the Best Stocks Now show on this May 23rd, 2025. And may we all remember what Memorial Day is really about. Yeah, let’s talk water skiing and fishing. Yeah, that’s all the things we do, but remember what Memorial Day is all about. We’ve got the Dow down 277 today as Trump threatens Tim Cook. He threatens Apple. He threatens Harvard. He threatens the EU and on and on and on. And that’s got the markets a little nervous. Dow down 277. The NASDAQ is down 218. That’s a 1.2% drop. I didn’t see much that was really down, however. It was mostly Apple with the threats against them about refusing to bring any of their manufacturing to the U.S. The S&P is down 86 basis points right now to 5,791. Small caps down 1% right now. I did notice that the tenure is back to where it was before the Moody’s downgrade of our debt. It did get up above 4.6 there for a while, and now it’s back to 4.50. right back where we started from. We have Bitcoin down a little bit. It’s at 108,000 after hitting a new all-time high yesterday of 111,000 and change. The big mover today, and it’s been good to us, it’s the best hedge when this turmoil hits, trade turmoil hits, is gold. Gold is up 1.34% today. which is easing the pain for us quite a bit here today. Nice hedge. It’s kind of been one of the only persistent hedges, that and cash. Welcome to the Best Stocks Now show on this Friday, beginning of a three-day weekend. I officially proclaim it a four-day weekend as it begins now, as you think about what you’re going to do this weekend. My wife is headed off to Atlanta to see the San Diego Padres play the Atlanta Braves. I was just a little bit, you know what, I don’t know that I could stand in another TSA line right now. That’s the worst part of travel. I was shocked when I got to the Cleveland Airport at 3.30 a.m. and arrived there in the departure area, and the line was down the block for TSA. I mean, really, really long. which was surprising because Cleveland’s a pretty quiet airport, actually. And then I finally get up there to where they look you in the eye, and then they look at your ID, and they said, you’ve got to go redo your ticket. I said, what are you talking about? They have one day off. I was off by one day on my birth date. Instead of January 18th, they had January 19th. You mean to tell me I can’t get on a plane? I’m a threat because of that? What kind of… Now, I didn’t say this to the TSA guy, or I might not be here today.
SPEAKER 03 :
Yeah, you said this on the way back to the counter, bro.
SPEAKER 04 :
Oh, God. You know what? That is just stupidity. I mean, that is bureaucratic stupidity. But anyways… Got home, and here we are today.
SPEAKER 03 :
And they love your equipment, by the way. And I’m sure they love your radio equipment that you can take through there.
SPEAKER 04 :
They were okay, and the meatballs I smuggled home from Red Steakhouse, they were happy about. The drug-sniffing dog was a little on the edge there with those in my suitcase. But anyways, here we are today. And I expect a quiet day in the market, although it has started off kind of with a big downward move.
SPEAKER 03 :
The true social message kind of.
SPEAKER 04 :
Trump’s in the threatening mood. And I have to say, that’s the thing I like less, the least about Trump, is when he picks these fights against certain individuals or certain institutions and just won’t let off. I mean, he’s got it in for Harvard. Now Harvard, that’s going to go to court. He’s got it in for Tim Cook, and he’s going to just continue to rail on Tim Cook. And he’s got it in for Apple. And, of course, the EU, he’s threatening to raise the tariffs to 50 basis points. So we’re kind of back to where we need Besson to enter the picture here. He did.
SPEAKER 03 :
He actually spoke real quick. He had a quick comment maybe about it. An hour ago, and it kind of quieted things down a bit.
SPEAKER 04 :
He’s a little more diplomatic than our president, I would just say.
SPEAKER 03 :
And today tends to be one of those, you know, from a volume standpoint, it tends to be a very light volume day. So to start out with some headlines like that, it was overwhelming.
SPEAKER 04 :
All the big institutional money managers and head fund managers are standing in TSA lines right now. That’s where they’re at mostly or driving somewhere.
SPEAKER 03 :
Driving to the Hamptons.
SPEAKER 04 :
Yes. We did have a very soft day in the market yesterday. I mean, the Dow was down one point, okay, after all of that. I said, why did I even come to work today? But the 10-year was down four basis points. Bitcoin hit an all-time high, 111,069, which is pretty incredible. Okay, today I guess there’s a couple big news items that are driving the market south a little bit. Trump pushes EU to lower tariffs or face more tariffs. The EU does not like Trump. Okay, let’s just call a spade a spade. The EU as a trading bloc does not like Trump. He’s pressing them to unilaterally lower tariffs on American goods, warning that without such a concession, negotiations to avoid additional 20% reciprocal duties will stall. And he’s got his big boys on this one now, working with the EU, Jameson Greer. They want some action on this. The U.S. imposed 25% tariffs on EU cars, steel, and aluminum. in March, followed by 20% tariffs on other EU products. Then he halved them until July the 8th, creating a 90-day window for both sides to negotiate. And that’s where I hope that enters stage door left, stage right. Hopefully Besant will get in there and smooth things out a little bit. The EU so far has merely offered a reciprocal tariff reduction rather than pledging to lower duties alone. So anyways, we always knew that Europe would be a very tough block to deal with. And he said it himself. Trump has said it himself. Next month, Greer and his counterpart from the EU are going to meet in Paris. So that would be in June. That will be a crucial test of whether or not the two – I say Sen Besant –
SPEAKER 03 :
Send Besson over there. I mean, we’re more intertwined, obviously, not just from, say, an economic standpoint. We know the China deal will be tough, but that’s primarily economically. And when you look at Europe, there’s obviously geopolitical defense, trade, right? There’s a million, lots of different factors intertwined within a deal with Europe. So I’ve always kind of thought that one’s going to be one of the, tougher pieces to hit just because of so many different facets of that particular agreement.
SPEAKER 04 :
It’s kind of like deja vu all over again. We’re going a little bit back to March 8th, and of course that was the low of the market. The 90-day negotiation window with Europe is set to expire on July 8th. So the clock is ticking, but we’ve got plenty of time. They’ll work it out. I feel strongly they’ll work it out.
SPEAKER 03 :
And that’s one of the reasons you’ve been holding a little bit more dry powder. I mean, as you kind of go through these, as you go through these different 90-day periods, at some point, right, you create a little bit more uncertainty and then
SPEAKER 04 :
you know something’s gonna shake out but the trick is you know what’s the timing of that yes and i have taken on a little bit different tactic here recently normally i buy four or five percent positions in stocks so a portfolio ends up being twenty to twenty five stocks during this time of uncertainty i’ve been taking three percent positions just a little bit less to not really you know i just dip my toe in the water three is still a pretty big position When you consider that an index, you know, let’s say the 500, the S&P 500 is a very small position. That’s 0.2%. I’m taking a 3% position these days. And I’ll say one other thing. I was really in the buying mood. I got off the plane. I got home right after, you know, the market opened, not too far long after. And I did do a lot of buying yesterday. And my main reasoning behind it, I think we’ve had one big uncertainty taken off of our plate, and that was the passing, at least by the House. The market really does not like unknown tax policy. And that tax policy, you know, I mean, it’s almost a certain thing now that those Trump tax cuts, for better or for worse, are going to stay in place. And, you know, they really wanted to keep the growth part of the big, beautiful bill intact. And they did that. And the House amazingly agreed on something. And that does take a bit of uncertainty off the table. I do think that it’s, you know, I think the Senate will definitely pass that big bill. And then we can go on to other worries, which we’ll talk about here in a moment. This is the Best Stocks Now show. All right, get out your worry towel. You remember the basketball coach, Jerry Tarkanian. Tark the shark used to chew on his towel. By the end of the game, there was very little left of that towel. I’m going to tell you one other little quick analogy here. When I was growing up in San Diego, we used to go to the Imperial Valley, which was about two hours away to go pheasant hunting. in the alfalfa fields. And we had a little bird dog, Brittany Spaniel, that never had any training at all. He just knew how to do it.
SPEAKER 03 :
He knew what to do. There was bread in him.
SPEAKER 04 :
He would bounce through that alfalfa field, which is, you know, alfalfa is not a low plant. It’s at least 18 to 24 inches high. Every once in a while, his little head would pop up. But then he would start making a big circle. And each circle would get smaller and smaller and smaller, and then he would stop and come to a point, and that pheasant would come flying out of that, fleeing out of that alfalfa for his life. I like in the stock market, you know, I kind of spend Monday, Tuesday, and Wednesday going through the alfalfa, and my subscribers will see my head pop up every once in a while, and I’ll say, I’m looking at this one, or I like the looks of this one. but I’m not ready to pounce yet. Thursday is usually my busiest day in the market, and yesterday was very busy. I’m going to guess that I made at least 10 buys of stocks that we already own that I bought for new people that don’t own them yet, and then I think I bought one or two brand-new stocks yesterday. That’s all going to be in the newsletter this weekend, but I went on point, and those stocks flushed, And I press the trade button, the buy button, and bam. So I just want to let you know that, you know, you think maybe I’m not doing anything on Monday, Tuesday, and Wednesday. No, that’s when the real work is taking place. And Thursday a lot of time is the trigger day. where I pull the trigger and make the final decisions on a lot of those stocks. The nuclear stocks really look good to me right now, once again. Through the roof today. Yeah, because of what Trump, Trump is very much pro-nuclear. I saw some really good action in the big ones and the small ones. The quantum stocks had a very good day yesterday. Very good day and a very good week. But they still make me a little nervous. You’ve got to understand that that is way off. That’s a Cathie Wood type stock. It’s a long duration. Maybe someday it will be profitable. Maybe not. So, you know, that should not be bought in a conservative. Those are trading stocks as far as I’m concerned.
SPEAKER 03 :
I was going to say, because, I mean, where you’ve got to look at is in the inherent volatility of them. They’re not a buy and hold. They might be one you own five times from now until 2030, whenever SMR actually has.
SPEAKER 04 :
That’s the way I look at them right now. I look at them as very, very volatile. Okay, now let’s take a look here. There is a lot going on here, obviously. I’ve got to get my notes up here. Barry, talk for a minute.
SPEAKER 03 :
Oh, yeah, no, we got the… I mean, I was… You said that you had the… Talking about Europe, I saw where Denmark raised their retirement age to the highest in the world. So it’ll be… uh 68 if i think they went to 70 didn’t they go yeah what they’re doing in incrementally so 68 it’ll be 2030 and 69 it’ll be 2035 and before reaching 70 in 2040 so um they’re uh you know they’re trying to to maintain that pension and they have an aging population and so that’s uh just kind of you know some news that i saw today from a planning standpoint it was like well you know
SPEAKER 04 :
well we are living longer we need to for whatever reason that is the third rail of politics is to not even talk about social security and medicare which are on uh… you know real sustainable of course and uh… it seems to me that at some point whether we like it or not we’re going to have to address that and to me that would be the The natural, the least painful way and the least controversial way to give ours a little bit of a boost would be to move the ages forward a few years on everything. Would that create a total backlash? Would that be a losing hand when you go to run for re-election as a party if you were to touch that? I don’t know. But that seems to me like if you’re going to do it, and I think at some point they’re not going to have a choice.
SPEAKER 03 :
Well, the problem is they’ve shown it, you know, the easiest way to show it and the most proper way to show it is mathematically. Mathematics. Right? That doesn’t mean anything to Washington. Exactly.
SPEAKER 04 :
They don’t believe in mathematics.
SPEAKER 03 :
You need opinion. You’ve got to have some opinion because it’s more of a gray area than it is if it’s mathematics, right? This is going to run out on this day if you keep doing this, right?
SPEAKER 04 :
Well, they keep trying to convince me that the new math says that you can take in $4 trillion and spend $6 trillion and everything’s going to be okay. That’s new math, all right? Now, okay, the other one that is in the headlights or in the – Crosshairs of Trump today. Apple dives as Trump says tariffs must be paid on iPhones not made in the U.S. That’s a big deal. Now, he’s threatening that. If you go to the AT&T store today or the Apple store or Verizon or whatever the case may be, You’re not going to have to do it. But he is not happy. He said, I long ago informed Tim Cook of Apple that I expect their iPhones that will be sold in the United States of America will be manufactured and built in the United States of America, not India or any place else. Well, in my book, a CEO of a company, you know, should have the say. He should lean towards hiring American workers and whatnot. I don’t know that you can force somebody, but he has done the same thing with the auto industry, really, I mean, with Mexico and Canada, and they are bringing their They’re Mexican operations here, and so are the Japanese car makers. and uh… what what what do you think out there and listen our listeners uh… should uh… should a uh… president of the united states force a c e o like tim cook uh… who’s who spent billions of dollars setting up moving it to india moving it to well first to china and now to india uh… and he’s wanting them to bring it to america and i don’t think you can i don’t think it’s a good idea to force But the tariff part, I suppose, you know what, okay, if you make that decision, then when you go to import those phones into the U.S., but that just opens the door to a Samsung. I don’t know. I don’t know. I don’t know if I like that or not. But anyways, the two of them met recently, and Trump says he’s building all over India. He says, I don’t want you building in India. But he said as a result of their conversation, Apple will be upping their production in the United States. I don’t know of what. But Apple said in February that it would invest $500 billion in the U.S. over the next four years. And I just don’t see Cook not going forward with his India plans and bringing it to the U.S. We’ll be right back. This is Bill Gunderson. Thank you for tuning in to today’s Best Stocks Now, Best Inverse Funds Now show. I put several hours of research in during the wee hours of the morning each day to bring you the very best cutting-edge stories that I can. To get two free weeks of my newsletter, go to GundersonCapital.com. To talk to us about our fee-based only money management services, call us at 855-611-BEST. Now, back to the second half of the show. And welcome back here to the second half of today’s Best Stocks Now show. Apple remains a soggy stock. Not only has it become a single-digit – hey, maybe it’s – I’ve been saying this for a long time. Maybe it’s time for a change. Of course, Cook, I guess, was a pretty important guy under Jobs there, and he’s ran it, and there just has not been much innovation. We have no exposure to Apple whatsoever. That’s not a good chart at all on Apple. It’s down another 2.3% today, yet it’s one of the most widely held stocks. Everybody thinks, oh, I own Apple. How could you not own Apple? Well, you know, okay, they have not. Number one, before this take away the controversy with the tariffs on iPhones made outside the U.S., they’ll come to some kind of agreement. But it was not a good stock before that. Wedbush is not happy, though. Wedbush does not like Trump. You can put them on the side of those that… Can’t stand the man, I suppose. Wedbush is a, what’s his name, Dan Ives, C-E, not Dan Ives. Yeah, Dan Ives. Yeah, Dan Ives. Okay, he says.
SPEAKER 03 :
You’d know if you could see him because you could see that binding colorful shirt set.
SPEAKER 04 :
Yes, he always was. He’s a colorful guy trying to get attention. If Apple were, he says, if they were to build iPhones entirely in the U.S., it would have roughly a $3,500 price point. I don’t know how they figure that out. But that’s the math that they do on it. And he says it would take about five years to build those plants here in the U.S., so it’s totally a non-starter. He says, we believe the concept of Apple producing iPhones in the U.S. is a fairy tale that is not feasible. Okay, and you’re heading into iPhone 17 production this fall. So they need to get it worked out. Now, coming from Apple’s point of view, and one of the downsides of offshoring your manufacturing, I asked my nephew, the PhD from Stanford and Harvard, who worked alongside with Apple, Clay Christensen, the guy on technologies, disruptive technologies. I said, what would Clay Christensen have to say about offshoring your product? And he says, well, he would say, you don’t want to offshore your product because they’re going to steal your ideas from you. Especially when they’re manufacturing your product. They know every little bit of your product. And that’s exactly what happened to Apple. Apple’s business is so bad in China that they’re offering trade-in discounts on new iPhones because Huawei is eating their lunch. Do you think if Apple would not have offshored the production of iPhones that Huawei would be the biggest producers of iPhones out there today? Or whatever they call their phones. They’re not iPhones, but they’re competitors to Apple. Now, the Federal Reserve, I saw Waller yesterday was saying, if we can settle in at about 10% tariffs across the board, we’re a long ways from that, I would say. He says then the Federal Reserve could start cutting. So I guess if you’re looking for a benchmark, at least Waller, who has one vote, he wants to see tariffs settle in at about 10%. I have noticed, I was buying some… 24 by 30 inch, like quarter inch poster board for crafts and hobbies and whatnot for my grandkids and whatnot. I’ve seen the prices of those skyrocket since the 30% tariffs went in. It’s now for 25 sheets of that, it’s $260, $11 a sheet. where before it was $6 a sheet. So it is now officially showing up where those tariffs are now. They’re unloading the boats, but they’re getting hit with 30% tariffs on stuff that was getting hit with zero tariffs before. So all of a sudden, The prices have skyrocketed. You’re going to notice that in Amazon going forward. Harvard barred from enrolling foreign students. That’s another one that he’s picked to fight with. Again, I don’t like these individual fights. I don’t know. It just looks petty to me.
SPEAKER 03 :
I think if you’re enrolled, I saw something. If you’re enrolled, you’ve got to basically transfer. Wow.
SPEAKER 04 :
Yeah, I mean, it’s just, I don’t know. He’s over the top at times. The Supreme Court preserves Fed independence. Okay, that’s pretty, you know, that’s something that the Supreme Court has ruled on. He can shake up other agencies, no problem. I know that there was a federal judge yesterday. You’ve got to hire back all those people that you let go from the Department of Education, which he basically shut down the Department of Education, the federal department. But it looks to me like the Supreme Court, that’s a pretty big win. On the surface, you may think that’s a loss if you’re for the president having the powers to, for instance, eliminate the Department of Education. The Supreme Court was okay with that, but as it relates to the Fed, they think that the Fed or the laws prevent him from messing with the Fed and the… I worry about the…
SPEAKER 03 :
Don’t worry about taking the Fed’s independence away or reducing it in some capacity. Of course, there’s always another administration coming down the pike. You don’t know where that comes from.
SPEAKER 04 :
Yeah, they could totally restore it because these executive orders can be overdone unless Congress steps in and makes them law. Now, NVIDIA, if you’ve still got some fingernails left to chew on, NVIDIA is going to report May 28th, so five days from now. I guess that’s next Thursday or Wednesday, I guess, Wednesday. That’ll be, you know, NVIDIA in my book these days is the number one company uh earnings report and uh this is like the last one of the quarter i don’t know why nvidia has such a weird uh reporting date because 95 of the companies have already reported but we never understood why they had that late date i mean a lot of you get a lot of your retailers are late just because they’ve got a lot of them are physically counting inventory but yeah i never i
SPEAKER 03 :
Never really understood why theirs was so late, especially since it’s the one we’ve been anticipating the most for the last two years.
SPEAKER 04 :
Yeah, and, you know, NVIDIA is a member of the Dow. I think a lot of the obstacles in NVIDIA’s way, I think they’ve gone easier on China. I think Jensen Wang’s trip to the White House went a whole lot better than Tim Cook’s trip to the White House. Yeah. And I think Wayne was able to convince President Trump that it’s not in our best interest. He’s kind of like, let the markets work on this. And I think that probably has helped NVIDIA clear out some of those gaps. Those roadblocks and obstacles. I think the stock looks pretty good right now. We’ll see. Their earnings are going to come out on Wednesday. You just never know. Decker’s reported today. And Decker’s did not, they couldn’t even give any guidance.
SPEAKER 03 :
Took away their guidance, yeah.
SPEAKER 04 :
That stock’s down 20% this morning. I own that one in the value, the relative value portfolio. And I bought it pretty cheap. But it is down 20% today. I have no intention of selling it. That’s been a great stock over the years, a bump in the road as far as I’m concerned. Now, here’s 10 risks to the U.S. economy today. according to Apollo. Number one, Moody’s downgrade of U.S. debt, increasing borrowing costs. Well, it’s had very little impact so far. The ongoing negative impact of tariffs. Yes, from day to day, week to week, that is a risk. The trade deal uncertainty and trade war. That’s another one. Extremely high uncertainty for business planning. That’s another one. And weak corporate confidence. Consumer spending slowing because of the higher prices in stores such as Walmart. I just mentioned Amazon. There’s no way I’m going to buy. I’m going to pay $256 for 24-inch by 30-inch foam board stock. No way in heck. And a lot of people are going to say that. Historically weak consumer confidence right now. Lower tourism right now. There is a backlash against Trump in the U.S. Student loan repayments restarting. That takes money out of the economy. Housing demand weakening because of higher mortgage rates. Well, they’ve been parked here at 6.9 for a long, long time. And doge laying off government workers. So there’s ten more reasons to worry this weekend. But wait, here’s one more. Here’s the big one, Japan. According to Societe Generale, they say that the global financial markets could face a dramatic shift, an Armageddon triggered by Japan’s bond market turmoil. Now, this is a new one to me. I mean, they’re down under 1% on their interest rates, but apparently there’s cracks and it’s starting to crack and it could turn into a tsunami, according to Society Generali. So we’ll be watching Japanese interest rates going forward. We’ll be right back.
SPEAKER 07 :
And welcome back here to the final segment of today’s Best Docs Now show.
SPEAKER 04 :
I want to go back to the Japanese story just for a moment. Because it is a big story, and I don’t mean to brush by it as if it’s nothing. You know, if you look at the chart… of japan’s 10-year the the interest rates now you wonder why in every week’s newsletter i have the yields of greece spain and italy in there it’s because that almost brought the world to its knees when the club med stocks all of a sudden had a bond crisis The pigs, remember? Yes, and I’ve been monitoring them ever since, and they’ve behaved themselves. But now you’ve got even a bigger economy, Japan, which in 2020, during COVID, their bond rate went negative, minus 0.25%.
SPEAKER 03 :
And they were virtually at zero for like 20-something years. A long time. Until about a year or two ago when the carry trade unwound.
SPEAKER 04 :
Yes, now that you said the key word, that finances a lot of funding as investors go in there, borrow that money for next to nothing, and go out and buy stocks and bonds. With that money, okay, that’s called the carry trade. You’re borrowing the money from Japan, and you’re carrying it to other investments, and you’re trading a very low-yielding instrument for one that yields a whole lot higher. And now Japan’s gone from minus 25 basis points. They’re at 1.55 today. And if you look at that chart, that is a pretty explosive chart. This is how you want a good stock to look, not your bond yield.
SPEAKER 03 :
Interest rate, yeah. And what that’s doing, your borrowing costs are getting… More and more expensive, which at some point makes the differential, say, between where you could borrow there and then turn around and invest that money somewhere else. Your borrowing costs are going up. It’s messing that arbitrage trade up a bit. When you unwind that stuff, that’s where you’ve got – when you’re selling a lot of, say, Japanese bonds onto the market, when normally people have – it’s been going the other way for years, you get a problem.
SPEAKER 04 :
Well, I mean, it’s a sure thing. I mean, look – and where it could show up is in U.S. treasuries. Because you borrow money from Japan at half a percent. You turn around and buy a U.S. Treasury at four and a half. That’s funding. They call that the yen-funded carry trade. And that accounts for substantial foreign bond purchases. You’re buying the cheapest bonds in the world. And you’re buying ones that have much better yields. And this era appears to be ending as capital returns to Japan while the Bank of Japan loses control of its long-end curve. The unwinding of these massive carry trades could create a loud sucking sound in the U.S. financial assets if yields on Japan continue to go higher. So that will be something now that I put on my weekly… a watch list because this has never been a problem this is all japan has had near zero interest rates for years and years and years and years and even at one and a half you say why is that a problem well it’s gone from zero to one and a half in just four years what if it goes to three or four and it’s going to continue to unwind that carry trade. So it’s definitely something that’s going to have to be monitored carefully. That can be your third fingernail that you chew on. That’s the Japan carry trade. NVIDIA may top Q1 estimates. but its outlook could be hindered by China. That’s going to come up next week. As the nuclear stocks are flying off the shelf, the solar stocks, because in that, Trump, the so-called Big Beautiful Bill. Depending on which side you’re on, one side calls it the Big Beautiful Bill. The other one says it’s the Big Ugly Bill. It is the first one to actually attack spending, even though the bottom line is not all that much. But I did listen to a guy that is on the budget committee, He’s pretty controversial because he’s for draconian cuts. And he was saying, you know, there’s actually a lot more cuts in here than people realize. So at least, you know, he thinks there was something in there that was worthwhile.
SPEAKER 03 :
Yeah, I mean, don’t forget, I mean, just slowing the growth of spending in reality, right, is the equivalent of a cut nowadays.
SPEAKER 04 :
Yes, but they did accomplish some cuts in there on top of that. Not just slowing, but eliminating. Okay, now… The solar stocks are just getting hammered. Sunrun was down 39% yesterday. I had someone transfer Enphase to us. I sold that one immediately for solar. The solar stocks are just getting hammered because they’re going to speed up the phase-out of those credits. And that’s what kept the solar industry alive, really, was the tax credits. And now that’s going to disappear. So that’s a cut. Okay, that’s a cut. to spending. You’re not allowing those solar credits here down the road a lot sooner than the original phase-out was. Now, I’m looking at the bonds market every once in a while. I looked at that. Here’s a good example. Flutter, which is the best stock now, a massive gambling company. Well, you can gamble on there. The five-year is at five and an eighth. Which, you know what, I mean, that’s going out six years. And if you hold that, you know, over until 2031, five and seven-eighths, and if the company’s still around five years from now, you get all your principal back. That’s one of the most attractive bonds that I’ve seen in a long, long time. Five and seven-eighths on a senior secured note due in 2031.
SPEAKER 03 :
I think it’s coming out around, what, beginning of June, I think.
SPEAKER 04 :
Yeah, you’re going to look into it for us. Nuclear names surge as Trump sets to sign order to boost the industry. And I have not had a chance to go through it yet. I’ve got a long day ahead. A guy in Cleveland told me, try Grok. I said, what is that, a Greek restaurant, an Italian restaurant around here, over there in Mentor or something? He said, no, that’s Musk AI. He says, go to Grok. I can’t remember if it was Calm or something else. He said, it’s amazing. So that’s another one. You know, look, how many irons in the fire does Elon Musk have? And now he’s got a competitor to chat GPT. So anyways, try Grok over the weekend if you get a chance. And try my newsletter and four-week trial over the weekend. It’s the best education you’ll ever get on the market. Go to GundersenCapital.com. Set up an appointment with us at 855-611-BEST. 855-611-BEST. Have a great day and have a great weekend, everybody.
SPEAKER 02 :
This show is not a solicitation to buy or sell any securities. Bill Gunderson or clients of Gunderson Capital Management may have long or short positions in stocks mentioned during the show. Past performance is not indicative of future performance. Gunderson Capital Management is a fee-based registered investment advisory firm. All accounts are held at Charles Schwab. Schwab is a member of SIPC and FINRA.
