This episode delves into the rapidly evolving landscape of market valuations with particular attention paid to the PE ratios and cash flow of S&P 500 companies. Gundersen shares his seasoned perspective on the importance of adapting to changing market conditions, drawing comparisons between past stock market bubbles and today’s valuation metrics. The episode rounds out with a comprehensive examination of key stocks, including Oklo and NVIDIA, delineating their positions in the market and future growth potential. Strategies for active portfolio management are shared, alongside a glimpse into the workings of Gundersen’s own investment philosophy, emphasizing active involvement and flexibility
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 Wednesday midweek edition already of the Best Stocks Now show with professional money manager Bill Gunderson, president of Gunderson Capital Management. 25 years behind the microphone looking at charts, looking at stocks, managing money, etc. I’m here with Barry Kite, our chartered financial analyst, certified financial planner. And, you know, you can not like Trump. You can like Trump. It’s pretty hard to argue with all-time highs in the market once again today. That’s in the NASDAQ and the S&P. And the Dow is very close to making a new all-time high. The Dow is up 402 points again today. That’s 92 basis points. The Dow is at 44,000. 867, just a skosh below its all-time high. When I got into the business, it was at 3,400. Now it’s at 44,000. S&P, new high of 27.6473 as it closes in on 6,500. The NASDAQ is up, hitting a new all-time high as it closes in on 22,000. It’s up 74 today to 21,756. Interest rates are down three or four basis points as Besant calls for a 50 basis point cut rate cut at the next Fed meeting. Don’t know if you’ll get it. Gold is up a half a percent. Oil is down and Bitcoin is hitting a new all time higher close to it at twenty to twenty thousand four hundred. So welcome to today’s Best Stocks Now show with professional money manager Bill Gunderson, president of Gunderson Capital Management. And I’m here with Barry Kite, our Chartered Financial Analyst. And Barry, I learned a statistic yesterday that I did not know. The average RIA, Registered Investment Advisory Firm, which we are, we’re a registered investment advisory firm, grows by 2% per year. And our stats, we’ve been growing by 17.8% per year over the last five years. So we must be doing something right. And I have to give all my crew credit. The team that we have assembled here at Gundersen Capital Management. I mean, we are almost nine times the national average in growth for an RIA firm. And, you know, it comes from a combination of things. It comes from our process that we have put in place. As Marcus Limonis talks about, you have to have a process. The process really is linked to the Best Stocks Now app. which allows me to sum up a stock in 60 seconds or less. And you could do that too as an individual if you’re a do-it-yourself investor. Look at the past performance of the stock and then look at the five-year valuation. That’s all you need to know, really. A sanity check at worst, right? Yeah, I mean, it’s a truth teller. yeah and if you see dismal results on a stock and a poor valuation why do you want to take up a spot in your portfolio with that okay so the process has been put in place and I did that through the app and our system of trading which allows us to manage each account individually without having to pool all the money into ETFs or mutual funds. And as you come in, we don’t put all of your money at work at once. I have a way of putting you into the stocks we currently own over time as those stocks hit good buy points once again. And when we sell, obviously, we sell all at once. And, of course, you can combine these different strategies, the five portfolios that I manage, and you can say, look, let’s go with all three in my 401k rollover or my IRA portfolio. And, of course, what’s the temperature scale of peppers? The Scoville scale. Yeah, Scoville scale. From the habanero down to a very mild Ortega chili, right? We have different temperatures. The Carolina Reaper. Yeah, I mean, we’re not up in that category. We’re not up in that category. I mean, we are also fiduciaries here, but you can combine. Okay, so you have the process in place. The people… well i’ve been doing it now for twenty five years and i’ve refined my skills and my knowledge over the years i’ve witnessed bull markets bear markets all kinds of markets fed on the rampage fed easing uh… strong growth in the economy in the s&p five hundred week growth in the uh… s&p five hundred i feel like having that uh… experience is a big plus and then the people we have a that help me that enable me to concentrate and focus on what I do best in the quiet of my bunker here in Mount Pleasant with the clear mind thinking through things and observing and being able to manage money throughout the day. We don’t have a committee of 12 people designing the portfolios. We have the app, which does the process, which… It kind of commoditizes the process, makes it easy. It narrows down the playing field.
SPEAKER 03 :
Yes.
SPEAKER 04 :
And then, of course, we produce a product, as any company does. We produce a product at the end of the day, and the product is not only the service we try to give folks, but the attention we give to their investments every single day is Not many people in our industry do that. Instead, they choose to go with the passive process, which requires very little attention and at best, in my opinion, produces fairly mediocre results in a passive portfolio type of environment. and has no kind of way to really… It’s based on your age only, and I just think you have to look at market conditions and the economy and whatnot. And, of course, the product is the portfolios that we manage, the newsletter that we produce, the app that we make available to do-it-yourselfers, and, of course, the show that we produce every day with the content that we put out there on the street, which I think hopefully… is ahead of the rest of the pack. I do get up earlier than most advisors in this industry, and that helps give us a head start on finding those stocks that are flourishing in today’s world.
SPEAKER 03 :
The land’s always changing, so you’ve got to wake up early and see what’s happening.
SPEAKER 04 :
The landscape is changing. Where Disney once flourished and where AT&T once flourished and were leading stocks and Cisco and Hewlett-Packard and Intel, not anymore. There’s new kids in town, and they’re the ones that are leading the market today, and it does take more work to run an active portfolio. and try to be in the best stocks of today’s world. And they don’t all come from tech. You know, a booking.com may use a lot of technology in what they do, but they’ve also produced a product that people like. And the stock is now $4,500 a share. When I first started buying it, it was $200 or $300 a share. So best stocks now come from all walks of life. Okay, the market hit new all-time highs yesterday. That’s hard to argue with. I have people write to me, you know, and they say, well, we don’t like what Trump is doing here. We don’t like what Trump. Can you believe these numbers? Blah, blah, blah, blah, blah, blah, blah, blah. Well, the market has been going up since 2009 through Obama, through Trump twice, through Biden twice. You know, because we have some Cracker Jack CEOs out there that are adaptable, that are flexible like I am. You have to be flexible. You have to change with the landscape a little bit. You have to stay on top of what the landscape is and adapt, right? And that’s why passive, if a CEO was passive, this is our product, this is what we do, and we’re not going to innovate, we’re going to count on these products. Well, if it doesn’t take long before, there’s nothing more dangerous than entrenched success, thinking that you’ve got it and you’re going to stay on top of the world. and not have to adapt or change or innovate and continue to innovate along the way, which I also find to be a very important lesson in life in any industry, in any business. Okay, it was a great day in the market yesterday. I guess the truce with China… Probably had something to do with it. And I think the CPI report obviously had a lot to do with it. And obviously the market is now counting on a rate cut at the next Fed meeting. Besant told the Fed, well, he put it out there. I’m sure they hear it somehow. Whatever channel he uses to get his message out, he tells them to consider it. a 50-point rate hike at the next meeting.
SPEAKER 03 :
Maybe they’ll listen to him, right? Well, they’re not going to listen to Trump, that’s for sure.
SPEAKER 04 :
Trump has raffled their feathers too many times.
SPEAKER 03 :
Did you know what the percentages are? So there’s a 99.9% of a quarter-point rate cut at this next meeting.
SPEAKER 04 :
I didn’t know that. Okay, well, and if the market doesn’t get it, it ain’t going to be happy, I can tell you that. Now, when we come back, The other big elephant in the room is the current valuation of the market. I want to bring you up to date there. We’ll be right back. And welcome back here to the second quarter of today’s Best Stocks Now show with the market hitting new highs. Earnings hitting new all-time highs, and I’ve said many times, earnings for the S&P 500 have been going up since 2009, and nothing explains why the market has been going up since 2009 more than the fact that earnings have been going up, and it proves the point that I talk about all the time with indexes and stocks follow earnings. Evaluation of a company increases as their earnings increase. And that’s what’s been going on since 2009. It’s an unprecedented streak of earnings growth for our S&P 500 companies. And we’re looking for a record year this year of earnings once again. Now, that begs the question, what about the valuation? Do valuations matter? Yes, they matter big time. Where we really found that out was in the year 2000 when the NASDAQ went down 79%. Yes, I was there. Valuation for the S&P is usually gauged by three measures. Number one, you have the price-to-earnings ratio. If you take the S&P 500 at almost 6,500 points today and divide it by the earnings, you get a look at the last 12 months. I also look at and give even more weight to the next 12 months. That’s called the forward PE ratio, which is simply the current price of the S&P 500 divided by the earnings estimates over the next 12 months. Another common measure of valuation for the S&P 500 is price to cash flow. which varies a little bit from P-E ratio, but you have to look at it on a relative basis. Where is the price-to-cash flow trading at today compared with the historical price-to-cash flow? And the third one is price to sales, which also, that’s taking your revenue, that’s taking your price for the S&P 500 and dividing it by the revenue per share, the aggregate revenue. Revenue is another name, a synonym for sales. Your top line, all the ringing of that cash register, what came in? what is coming in price to sales is also a very important measure i don’t know that price to book value is as important as it is today as it once was now it is in some industries banks for instance barry price to book value is very important And other companies.
SPEAKER 03 :
And break-up values. Essentially, most companies that are bought, we’re looking at as a going concern, meaning the company’s going to remain in business. Now, if we were taking apart GameStop, right, or whatever.
SPEAKER 04 :
Palantir, well, you look at Palantir, how important is the price to book value, which is the buildings they own, the real estate, the desks, the computers they own. Okay, so I focus on the three. Now, let’s take a look at number one. The most common one is price to earnings. Today, we’re trading at 27.4 times price to earnings. That’s the PE ratio. That’s extremely high. I mean, your average over time has been more in the 20 area. Even that’s a little bit on the high side. Let’s call it 18 to 20. And we’re at 27.4. The all-time high in the last 20 years was in 2021. And we’ve talked about that 2021 year a lot. That was the money, that was the COVID money sloshing around. That’s the year that GameStop went to $1,132 and became a member of the S&P 500, which shows you the speculative nature of the market. One of the biggest speculative markets of all time was in 2021. How high did the P.E. ratio go during that bubble of 2021? It got up to 30%. Barry, we’re at 27.4 right now, okay? We could go to 35. We just don’t know because now you’re kind of trading on vapor. You’re kind of trading on momentum, etc. But keep that in your hip pocket and know as you look in the rear view mirror that the last time we hit 30, it went all the way down to 17 after that, the PE ratio. Why did it go down? Because the price of the S&P 500 went down. And that’s the year that the Fed stepped in and did those draconian rate hikes for 75 basis points in a row to try to cool things off in the market, which had been caused by all of the stimulus that they put into the market and a friendly Fed. I mean, what were interest rates back then, like a half a percent or something on the 10-year? The Fed also helped cause that bubble. And, yes, that bubble burst, and it came down hard, and it finally bottomed out in 2023, January, when we said it’s time to go all in. That’s when the PE came down to 17 on the S&P 500. Now we’re at 27. Put that in perspective. Okay, let’s look at price to cash flow. We’re hitting an all-time high over the last 20 years. We’re at 19.1 times cash flow. Even during the bubble of 2021, we didn’t get this high. It got up to 18, and here we are at 19.3. Keep that in your hip pocket. before you buy another 1,000 shares of Palantir or whatever the case may be. Okay, price to sales, we’re at a 20-year high. And I don’t know if we’ve ever been this high. I’d have to look beyond 20 years, okay? My career in the industry has been 25 years, so I’m pretty happy looking at the last 20 years. We’re at 3.2 times sales.
SPEAKER 03 :
Yeah, the dot-com bubble, at least from the NASDAQ, probably exceeded that. The problem is they didn’t have much revenue either. No. Yeah, and 3.2.
SPEAKER 04 :
3.2 is bumping up where we were in the bubble of 2021. So I have to keep that in mind as a money manager where new money is coming in on a daily basis for me to put to work. I have to have and know where we’re at overall as I look at the individual stocks. Because the M, you know, CanSlim is a good system. If you add valuation to it, which I did, I added valuation to it. which the NASDAQ, that was a hard lesson for CanSlim investors, momentum investors to learn in 2020, was valuation matters. CanSlim never did add valuation to their acronym. I don’t know. How do you put a V in CanSlim? I say V CanSlim or whatever. But you have to have V, and V is half of the equation for me. Performance is the other half, and obviously the performance is excellent right now. The momentum is there, but the V is getting very, very high. So I have to be a little bit more judicious. Now, having said that, I did buy more of one of our biggest holdings yesterday. As it individually pulled back, even though the market didn’t pull back, it pulled back, and I put some more money to work there. So I just want you to know that’s the environment we’re in right now. We’ll be right back. Now, back to the second half of the show.
SPEAKER 06 :
Thank you.
SPEAKER 04 :
And welcome back here to the second half of today’s Best Docs Now show. You know, another thing that I would like to emphasize here, and I’m reminded of it again today, is yesterday as I began my day, we had about 185 holdings. that I needed to look at. Some of those are legacy stocks that people transfer in. Maybe they have big capital gains in them. Maybe we’re paring them down over time. Or maybe they just came to us, right? And these are new stocks that show up that I then assess every day. and go to work getting rid of the ones i don’t like and for instance today we’ve got 225 we jumped by 40 stocks 40 positions today so i’ve got 40 extra positions to look at and i just want you to know as you transfer a portfolio to us we do not liquidate the portfolio that would be silly you more than likely have some good positions in there I mean, even the blind mice find the cheese once in a while out there, right? The dart hits the right one once in a while. And secondly, you may have some big taxable consequences that we would trigger if it’s not an IRA or whatever. So I very carefully go through the garden every day and look at all the holdings and jettison. I do not like looking at bad stocks, Barry. You know that. In fact, when someone transfers to us and there’s bed stacks in their braces, now listen, don’t do anything yet, Bill. We’ve got to separate his account into two. This may take a few days. And I’m itching. I’m itching to get rid of those bad stocks. I can’t stand to look at them. It’s like looking at a tomato plant that’s sick, got a fungus, hasn’t grown, might get one tomato out of it. No, let’s pluck it and get it out of there. That’s just me. I like to see vibrant, thriving, healthy. Of course, everybody’s, what they think is healthy is different. But what I find healthier, good performers, good management, good charts, etc. So anyways, I go to work. We don’t liquidate. We take one stock at a time on a daily basis. And then I start adding. Like yesterday, I added to one of our largest positions. which we’ve owned for quite some time. But it’s pulled back recently quite a bit, actually. And for new folks that have given money to us to be stewards over, we added a 3% position just for them. The other people already own it. Okay, now let’s talk about some individual stocks in the news. The Department of Energy selects Oklo. for three projects under new reactor pilot program now on the scale of things oclo is not a microsoft oclo is not even like a constellation energy or a uh… this true which are big massive nuclear exposure utilities growth utilities oclo is way down the line They don’t have sales yet. They don’t have earnings yet. This would be way down in our most aggressive portfolio, which is emerging growth, where we look at companies like this. Oklo seems to be in a pretty good space with the small modular reactors. And I think they’re getting a vote of confidence here when the Department of Energy, not Defense, Department of Energy selects Oklo for three projects under a new reactor pilot program. And that’s something that our energy department, today’s energy department, which is being led by the former CEO of Liberty Energy, is very pro-nuclear. And guess what? Silicon Valley is pretty pro-nuclear. Now, I don’t know if Jackson Brown and Bruce Springsteen and all the people I heard at the No Nukes concert back in the late 70s are pro-nuclear, but you’ve got to power all of these data centers and this AI and all of this sucking sound that you hear. So obviously our Department of Defense is very much pro-nuclear and have steered assets away from wind and solar. Not that we’re still not doing that. But the Department of Energy is ushering in a new era of building new nuclear in America by unleashing its unique capabilities to enable American nuclear innovators to build. which is very interesting, and it should come as no surprise. Yesterday we talked about the leading sectors in the market. I can’t ever remember a time when utilities have been a leading sector in the market. Maybe in a bear year, right? On a relative basis, maybe utilities were up one or two percent. But the utilities now have a sub-sector. These are not traditional electric utilities like, you know, Con Edison or San Diego Gas and Electric, which is Semper Energy, etc., They have a nuclear arm, okay, and that’s what’s driving this sector to be one of the leading sectors in the market. And definitely keep an eye on Oklo, but also keep in mind it’s down the ways quite a bit on the risk scale. U.S. is placing trackers and AI chip shipments to prevent diversion to China. That’s interesting, Barry. They’re putting trackers in shipments of NVIDIA chips to make sure they don’t end up where they’re not supposed to?
SPEAKER 03 :
Makes sense. I mean, a lot of these things we’ve found, even with DeepSeek, where they were essentially acquiring a lot of these. They said they did it with Huawei chips, but the evidence was that they likely used a good number of the NVIDIA chips to do so.
SPEAKER 01 :
Absolutely.
SPEAKER 03 :
any of these things, particularly, you know, it’s one thing if you’re shipping, you know, diapers and tracking those around the world. But in this sense, you know, it’s a national security issue as well, right? Yes. It’s not like these chips are just going to be used for industry.
SPEAKER 04 :
Absolutely. Another thing I have to weigh as a money manager, NVIDIA has become our largest position because it’s been one of the biggest winners we’ve ever invested in. I mean, we were calling it the best stock in the market several years ago. And, of course, now at $4.45 trillion, obviously, this has been one of the greatest stocks that I’ve seen during my career in the business, if not the greatest stock I’ve seen during my career in the business. And, you know, in some portfolios now, it could represent a very low double-digit portion of that portfolio. But keep in mind, it’s now 8% of the S&P 500. That’s a 500 stock portfolio, right, Barry? To be 8% in a 500 stock portfolio, that’s the biggest position any one stock has ever held in that index. So at some point, am I going to trim NVIDIA? Yes, okay.
SPEAKER 03 :
We have a handful of times.
SPEAKER 04 :
We’ve done it a few times. But, you know, when will the next trimming go? Well, you know what? The stock still has a great head of steam. The valuation is still fairly reasonable. The only hang-up it’s got right now is this deal with China as to whether or not they’re going to have access to the really high, the Blackwell chips.
SPEAKER 03 :
And the position size. I mean, we’ve got some accounts, right? Yeah, some are bigger than others. We start getting a fairly large position there. And if you’re going to be in a large position, NVIDIA is not a bad one to be in. But it just causes for extra eyes on your end to keep an eye on where that thing is.
SPEAKER 04 :
Barry, with the technology we have today, I didn’t have this until really five or six years ago as the allocation technology and the trading platforms at these firms got better. You know, I was way ahead of the curve. I had to come up with my own spreadsheets and whatnot. But I can go into our trading platform on Schwab and say, I want to sell. I want to lower. I want nobody to have more than 10%, let’s say, okay? And it will not impact, it will not sell any shares that people that have 9% in video. Right. But a person that has 13, 12, 11, it will cut just those people to 10%.
SPEAKER 03 :
Yeah.
SPEAKER 04 :
So the technology has also caught up with what we’ve been doing for years and made our job a lot easier.
SPEAKER 03 :
Yeah, we used to have to submit that stuff after the trade. Oh, God. We used to have to submit it with the CSV spreadsheet and all this other thing on the back end. Thankfully, nowadays, it’s kind of a one-stop place where you can create the trade, execute the trade, and it will allocate the trade properly.
SPEAKER 04 :
Yes, it’s a rebalancing, really, what it is. Okay, now… I want to talk about Brazil just for a minute. Brazil is fighting Trump. You know, they’ve been hit with the 50% tariff, and Brazil is giving out aid, $5.6 billion aid, to companies that are hurt by this. In other words, they’re not giving in to Trump’s demands. They’re going after the former president. But I want you to know they’ve carved out several companies. Trump has, including our Embraer holding company, which makes the smaller commuter planes, so they’re not subject to this big tariff. And Embraer is flourishing once again. We’ll be right back.
SPEAKER 05 :
You’ve got to go where you want to go and do what you want to do with whoever.
SPEAKER 04 :
And welcome back here to the final segment of today’s Best Docs Now show. Well, there’s still some earnings reports trickling in, even though, you know, over 90%, maybe we’re at 92%, 93% of the S&P 500 companies have now reported earnings.
SPEAKER 03 :
Just waiting for NVIDIA, right?
SPEAKER 04 :
Yeah, a couple weeks. Okay, but there have been a few here today, and I like to stay. I obviously, I read every article. headline on earnings every single day on the companies that are reporting some don’t really matter one way or another but others are still good indicators of where we’re at in the economy and in certain segments of the economy and obviously how that individual stock is doing now we had some really good success when core weave came public I don’t very often buy a fairly recent IPO until I see the numbers. And as CoreWeave came public at 40 back in late March of this year, and I saw the sales growth numbers, which were just phenomenal. I mean, the last four quarters, 934%, 544%, 420%, and the quarter that they just announced today, Earnings up or sales up 207%. So their sales are in like, wow, just exploding to the upside.
SPEAKER 03 :
And their lockup period ends tomorrow. So a lot of times with these IPOs, you’ll have usually a 90-day or so lockup. And so insiders can’t sell until that period is over. So some of this selling pressure, expected selling pressure, could be a little bit of that as well that basically can begin as soon as tomorrow.
SPEAKER 04 :
But I did buy a company that didn’t have any earnings yet because as I saw that sales growth, I go, wow, this is the real deal. went public at 40 we bought uh in the ultra growth portfolio again this is not a microsoft this is not a nvidia this is down one step on the ladder it’s in that ultra growth area you know younger company we bought it at 52 the darn thing doubled in uh… eighteen days and you know as it came public i said you know this could be a major player is going to be the new kid on the block everybody’s gonna wanna own it here when they see these the sales growth but it went up so fast it caused me to pause and i sold half of it and then one month later uh… after we sold half of it it had tripled from our original price And at that price, when I looked at the price to sales, price to cash flow, there is no price to earnings because they don’t have earnings yet. I said, you know what, never look a gift horse in the mouth. You’ve got a triple in two months. You know what, see you later. And I think we made a pretty good decision. We sold it at 158, and it immediately went down to 100. So it gave up about 58%. And then it started going back up. It kind of got back to where we sold it at. But now I see their report today. This stock is down 16.3% after reporting their quarter. The issue that they have right now is they’re still losing a lot of money.
SPEAKER 03 :
Yeah, and they’re spending, they’re needing to spend, they need data center space and other things. So it takes money to make money, right? And they’re spending currently in order to build out that infrastructure that they need going forward.
SPEAKER 04 :
Well, they were expected to lose 49 cents per share. Instead, they lost 60 cents per share. Their revenue, however, $1.2 billion. Who was it that just had their first billion-dollar quarter? It was a company we own.
SPEAKER 03 :
Was it Palantir? It might have been. It was Palantir. In terms of revenues? Yeah, it was.
SPEAKER 04 :
In terms of revenues, quarterly revenue. CoreWeave is on a par with Palantir as far as sales go, but Palantir is also profitable. I mean, their earnings were up 78%, so I haven’t given up on CoreWeave. It just got way ahead of itself, and I think we did a prudent thing. And it is down. We don’t own any at this current time. Down 16% as they report their quarterly earnings. I think, Barry, as you say that the restriction is going to come off, the lockup period, I think you’re going to see a lot of profit taking from the insiders, unless they think they’re the next Palantir, you know.
SPEAKER 03 :
And the stock’s moved so much since the open, right? I mean, since it became public, that also kind of put some pressure on that selling pressure. If it was only up 10% since the IPO, right, you might not have as much selling pressure. But the fact that the stock is up as much as it’s been during this period – And, you know, it makes sense for some of those early, potentially some of those early investors, right, to at least liquidate some in order to kind of, just like you trimmed some profit at, what, $150-ish and $135-ish, I think, the two different sale points.
SPEAKER 04 :
Yeah, and you may have some people that work there that this represents 100% of their portfolio in the stock market, right? This is their exit in terms of, right. Yeah. Okay, the other two I want to talk about, the tale of two restaurant stocks today. On the one hand, I don’t know what Chili’s is doing. I mean, that’s a mature company. But Brinker International, which is Chili’s and Maggiano’s, we saw Maggiano’s when we were in Bloomfield Hills. Their earnings were up 55% and their sales were up 20%. That is really good for a mature restaurant stock. While most restaurant stocks are not doing well at all, Chili’s had a phenomenal quarter. I just can’t make a valuation case for it.
SPEAKER 03 :
And compare that. I agree. Compare that to Cava, which I think. Cava’s getting clobbered. Cava’s getting clobbered today. And so is, what’s the sweet greens, I think? Yeah. Used to be some.
SPEAKER 04 :
And I don’t like either one of the models. I’ve been to the local Cavas.
SPEAKER 03 :
I finally had it this weekend, actually. It was okay. It’s okay. But like you said, it’s too expensive. It’s expensive. I mean, it’s just too expensive.
SPEAKER 04 :
Yeah. You know, look, I’m married to a half Lebanese, right? She’s half Lebanese. Her mother was full Lebanese, so I know what good Middle Eastern food is like. And it wasn’t what my mother-in-law used to bring over to the house during a Charger game, you know. You know, it’s down 15.3%. A lot of people thought it was going to be the next Chipotle, and I just kind of, you know, I’ve been there. Their same-store sales were up 2%. Barry, that’s the average in our industry. Our same-store sales are up 17.8% over the last five years. That’s a lot better. If you’d like to get a hold of us and talk to us about our management of portfolios, 855-611-BEST. Set up an appointment with us. We’re coming to the Bay Area in February. four weeks now and if you want to get a four-week trial of the app and the uh the live trading and the portfolios gundersoncapital.com have a great day everybody
