Join Barry Kite and Jeff Webster as they unravel the complexities of today’s market dynamics. In this episode, they touch upon the intriguing rise of gold as a safe haven and its comparison with Bitcoin. The dialogue takes an insightful turn into the unfolding credit risks among regional banks, reminiscent of the March 2023 banking turbulence. Listen as they dissect these events and their implications on the current investment landscape. Moving to the realm of AI, our hosts explore the ambitious infrastructure investments led by industry giants such as NVIDIA and Oracle. The discussion provides a thorough analysis of
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 02 :
Welcome to the Best Docs Now show. Right outside of Sarasota, but also excited to have Jeff Webster joining me on the show today, an advisor here at the firm. And as we look at the market, we have a little bit of green on the screen, kind of surprisingly. Pretty much markets are fairly flat. We’ve got the Dow Jones up. 0.28% today. That’s 129 points if we’re counting at home. We’ve got the S&P 500 up just 13 basis points, but in the green to 6,636. And NASDAQ pretty much flat up 20 points, 22,582. Bitcoin continues its slide, down 2.36% at the moment, down about 2,500. to $105,663. And then lastly, surprisingly enough, gold down today, $94, down 2% after just an amazing run so far. But good morning again and welcome to the Friday, October 17th edition of the Best Docs Now show. I’m your host, Barry Kite, player and analyst here at Gunderson Capital. Sitting in for Bill today, and we’ve got Jeff Webster joining us on the show as usual. How’s it going? Good morning, Jeff.
SPEAKER 03 :
Good morning, Barry, and good morning to everyone out there listening to us. Happy Friday.
SPEAKER 02 :
Yeah, it always seems like sometimes we get some eventful stuff on Friday, but at times, not exactly what I thought was going to be on the bingo card at the end of this week, but I don’t know, at times I guess the market acts like a time machine of some sort within. You know, the last 24 hours, it feels like the market got caught up in a time warp back to transporting us back to March of 2023. And that was when we had the failure of Silicon Valley Bank. I want to say it was around March 8th or so. But, you know, among some others needed cash infusion, some others. failed as well. I don’t know, are we on the cusp of a regional bank crisis? The markets kind of acted like it towards the end of the day, and that’s kind of been some of the narrative this morning.
SPEAKER 03 :
Yeah, it looks like there’s a little bit of a bounce with the regional banks, with Amex doing a beat. But some of these guys, yeah, and I think we’ll jump into it a little bit later, but some of these guys have reported uh… from fraudulent loan activity that they got caught up in where they were duped a little bit. We can dive into that a bit later.
SPEAKER 02 :
Yeah, kind of some of the skeletons from March of 2023 with the names Zion’s Bank Corporation and Western Alliance were a couple of the names of choice around there. Comerica was even getting caught up in it the last go around. Of course, I believe they and just had a merger or got purchased by another bank. So I guess their name will be off the list this go-round. But, yeah, we’ll see how that plays out. But, obviously, before we get too far ahead into headlines of the day, you know, we look back yesterday. We had, you know, basically a down market across the board. S&P was down 0.6%, NASDAQ was down 0.5%, and the Dow was down 0.7%. So kind of read across the board, continuing some ongoing trade conflict and some of the rhetoric back and forth between the U.S. and China. And then, of course, towards the end of the day is when we had some of the news from Zion’s Bancorp and Western Alliance. And that’s really kind of what led to the red numbers across the board. Of course, the one thing that didn’t change much yesterday is that, as we discussed also on Wednesday’s show, was just how gold continued to lead the market. I think we had the quote, Eddie Ardeni said that gold is the new Bitcoin. And, you know, we look at gold continuing to go up and Bitcoin’s hit a pretty big stiff resistance since topping it. And then got up to about $126,000 a coin earlier this month. and what i think trading around 105 000 at the moment um so uh gold has uh continued to rise i mean the the the the number of tailwinds um and kind of the this bank banking crisis and kind of a flight to safety is the you know kind of the newest you know kind of driver jeff in terms of it being you know potentially a safe haven trade but I mean, you’ve just seen this historic rise in the metal for the last handful of years, whether it was in terms of all the tailwinds that they’ve had, that gold’s had in terms of inflation hedge coming out of COVID, right? We had, of course, with Russia’s invasion of Ukraine, you had… Many central banks around the world started to step up demand for gold. So I believe right now it’s the most held asset by central banks around the globe. U.S. Treasury is being pretty close to that too, by the way. But then you also had, I mean, this year’s leg up, you had kind of the uncertainty driven by the tariffs and everything. in a bit of a weaker dollar and also Fed interest rate cut hopes. I was looking at the percentages this morning and literally 100% right now pricing and 100% chance of another 50 basis points being cut. this year, which would essentially equate to two 25 basis point cuts at the remaining two meetings, one in October, I believe, and the other being in kind of earliest December. But that essentially was looking at the percentage of that, so really 100%, really half a percent of potential cut in interest rates. And when you have, you know, as we know, gold doesn’t pay much of a dividend, does it, Jeff? I mean, not much cash flow there. It actually has a negative cash flow in terms of cost to store it, right? So you’re giving up potential interest and also it usually has a cost in terms of storage, but… As interest rates go down, that cost of holding gold actually diminishes, which gives it another kind of tailwind. And then, of course, the newest piece being the safe haven trade. So it’s just amazing to see kind of the records that it’s been hitting.
SPEAKER 03 :
Indeed, indeed. Yeah, it’s like those gold guys, they always have to, you know, when you try to sell the physical gold, you know, the folks that you typically sell it to, you know, there’s some type of a wholesaler and they’ve got to deal with their spread. And so it can be problematic at times.
SPEAKER 02 :
You know what I mean?
SPEAKER 03 :
Yeah, you know what I’m saying? We lean towards those other types of gold investments.
SPEAKER 02 :
Right, but we get our exposure via GLD and ETF or even IAU. But you know what I haven’t seen, this gold kind of rush moment, is I haven’t seen the sign flippers anymore. Remember when gold was going up, you’d have the sign flippers on the side and sell your gold here?
SPEAKER 03 :
I was just thinking a couple days ago. Yeah, you’d be cleaning out your sock drawer or something like that on a Saturday afternoon, and you’d find, you know, some little gold bracelet or chain that you got when you were a kid or whatever, and you’re like, okay, I’m going to swing by that retail establishment and see what I can pick up for this thing to pick up a little bit of pocket change.
SPEAKER 02 :
Yeah, I mean, maybe the sign, I guess maybe the sign flipper is like, you know, kind of a lost art item. you know, in terms of skill set that we haven’t seen. I mean, it got replaced by the, you know, the thing with the air that shoots through it, and it has all the little ribbons that makes you kind of look over to the side. But, yeah, that’s one thing I’ve kind of been, you know, you kind of judge, you know, some of these moments by, right, and that’s kind of what you would see. But a lot of this demand has really been driven by central banks and central bank demand across the globe. So it’s pretty interesting when, of course, we normally are talking a lot more about equities, but gold’s been one of the assets to be in of 2025 for sure. Yep, yep. And even Jamie Dimon finally said that, you know, he said it seems semi-rational to own gold. So he’s never been a huge, he’s never been a huge bigger buyer of gold. As he says, it costs 4% to own it, at least right now in terms of deposit, right? Obviously the banker in him is always thinking of interest, so. opportunity cost he doesn’t want to hold it in gold he’d rather lend it out to you and uh you know and make uh four percent on it in some form or fashion so well we’re just uh getting started here uh this morning on uh on this uh friday october 17th we’ll come back we’ll uh talk a little bit about uh the regional banks and some of the issues that they’re having and we’ll be right back
SPEAKER 1 :
Thank you.
SPEAKER 02 :
Welcome back here to the Friday end of the week edition of the Best Docs Now show. It’s October 17th. I’m Barry Kite, planer and analyst here at Gunderson Capital. Taking the wheel for Bill today as he’s giving a presentation down there in the lovely St. Regis Hotel or Resort down in Longboat Key, Florida. So it’ll be interesting to see what he brings back from that conference.
SPEAKER 03 :
Hopefully Bill’s getting a little bit of a suntan, you know, in between sessions there. He deserves a little bit of an opportunity to relax. You know, he’s a hardworking folks, not only for everyone here at Gutterton Capital, but for all the folks that he services out there, you know, on our radio listeners, our clients and stuff like that.
SPEAKER 02 :
Yeah, picture him with the two screens in front of him by the pool. Anywhere you can get two screens, or at least one, that’ll be… Maybe the sun will reflect off of him and give him a tan, a little bit of a tan that way, right? Got to get the vitamin D. Well, we’ve got, you know, the good news is we should be having, whether the headlines or not, you know, from a market perspective, fairly quiet. We’ve got, you know, still got all of the major U.S. equity markets in the green up just under a quarter percent, actually. All of them trading within about two basis points of each other. In terms of, as we’ve talked about a little bit on Wednesday, in terms of kind of that push-pull narrative we’ve had, especially on one end with headlines where we didn’t have any earnings during that kind of earnings season lull. And then, of course, now on the other end, we are getting earnings. earnings data. You get this push-pull between information and actual numbers and actual data and earnings. We’re, of course, in the very early innings of earnings season, but as we’ve highlighted, things have been going well out of the gates, particularly with the big bank earnings have outperformed. Of course, the primary news driver continues to be tariff talk and This morning, actually, I think President Trump kind of cooled things down a little bit in terms of calling, I guess he referred to the triple-digit tariff rates on China as unsustainable. I guess which the assumption is there if they’re unsustainable, then that would increase optimism that you’d get to some type of deal at some point. So I guess in terms of reading those tea leaves, that’s part of the narrative. And then, of course, yesterday the market had a new narrative in terms of introduced into the markets was credit risk, right? So particularly… Credit risks surrounding regional banks. As we talked about, the two names making the headlines were Zions Bank and Western Alliance. Those are some of the names that you probably remember back during the regional banking crisis in March of 2023 where we lost names like Silicon Valley Bank. A few others got gobbled up because they didn’t have enough capital, but And, you know, so yesterday, that’s kind of what broke into it. And, you know, Jeff, I know you’ve got some info in terms of, you know, what quite was happening on the bank side, I guess, first, you know, with the banks. And then we can get into those individual defaults, you know, later on.
SPEAKER 03 :
It all boils down to lending and credit. And, you know, I’ll take. You know, if we have any time today, I’ll talk about some things that we can correlate to the crash of 1929, what we saw in 2008 with the mortgage crisis. But it’s all talking about people and companies and banks becoming overextended. And so, you know, Zion’s, you know, going back to them, they’re taking a 60% Uh, there’s a, they’re taking a $60 million provision and a $50 million charge off on two commercial loans that they did through, uh, one of their California, uh, bank subsidiaries. And, you know, the, the allegations are that it involved misrepresentation, contractual default, and really irregularities in respect to borrows, grantors, and the collateral. And they’re actually, uh, filing a lawsuit in, in California. which is, again, it’s too bad. To me, the bigger story is what’s happening with First Brands and Tricolor, both companies involved in the automotive industry, one being an auto parts supplier, and they filed bankruptcy, and again, it’s tied to lending. They started to sell their receivables. So, Barry, you know when organizations need cash flow, they look at what collateral they have, and they have monies that are coming into them in the form of accounts receivables. And so what they end up doing is they end up packaging those receivables, and they sell them off.
SPEAKER 02 :
For some immediate liquidity. Yeah.
SPEAKER 03 :
Yep, and they get some cash that helps them run their operation, and they give up a little bit, and in return, they get immediate cash to help them out. And so they started, you know, packaging up these challenges, and some of the big banks bought into these things. And, well, they found out that in many cases, the way that these things were packaged were you know, not necessarily above board. You know, we’ve heard bills the last couple weeks warn about… Some parts of the private credit markets, correct? That’s right. That’s right. I mean, in the public markets, you know, we have the SEC, we have… you know, accounting firms that come in and audit and they have to report and we can see what’s going on. But in many cases, when these other things occur, they don’t have to fully disclose all this stuff. And, you know, Tricolor Holdings, they’re a company that sells used cars, but for all intents and purposes, Barry, they are a financing company. You know, buy here, pay here type of concepts. And they got into a scenario where they started doing auto loans for people that had, you know, they were subprime loans. Very high. People didn’t have great credit.
SPEAKER 02 :
Right. At very high rates.
SPEAKER 03 :
They didn’t even have social security. Yeah. And so it can be very profitable business. But, you know, if the ceiling falls out and people start – not paying those loans, it becomes very, very risky. And so that’s that’s what’s happened to them. And, you know, it draws a lot of analogies to what happened in 2008 with the mortgage crisis. Certainly that was significantly larger, much deeper. But it’s very, very similar where it just people got overextended and lending institutions got a little bit too aggressive. and giving their money out.
SPEAKER 02 :
Yeah, the market time machine in full effect. Well, we’ve gotten through the first half of today’s Best Stocks Now show, and we’ll be back in the third segment to talk about some of the big AI boom and some of the big deals this week. We’ll be right back.
SPEAKER 01 :
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 GuntersonCapital.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.
SPEAKER 08 :
We’ve got to get together sooner or later.
SPEAKER 02 :
Welcome back to the second half of the Friday, October 17th edition of the Best Docs Now show. I’m Barry Kite, planner and analyst here at Gunderson Capital, serving as the relief captain for Bill this morning. Also, as usual, I’ve got Jeff Webster joining me on the show. Jeff’s an advisor here at Gunderson Capital Management. And, of course, to stay up to date with our thoughts on the market, get Bill’s newsletter online. at GundersonCapital.com, or if you’d like to chat with Jeff, myself, have a discussion about where your portfolio is, what your allocation’s looking like, and how you’re getting that exposure, give us a call at 855-611-BEST. That’s 855-611-2378. We’re here to be a resource. Looks like markets are kind of teetering back and forth between red and green here, which no change after some of the headlines that we woke up to this morning. I think I’ll kind of take it. I do see, interestingly enough, in terms of the risk-off move in Bitcoin. I mean, we’ve had Bitcoin kind of defy gravity, a lot like gold. Oddly enough, gold down 2% today as well, but… And he had Bitcoin hit $126,000 a coin, and right now it’s trading under $105,000. I don’t know what the percentage is on that one real quick, but I think it’s close to a, what, 14%, 15% pullback if my brain’s working well this morning. You know, I guess, you know, to kind of finish up the bank side of it and also the default with first brands and tricolor products, You know, in that sense, they seem to be, at least the banks are trying to say, hey, we got tricked. You know, there was some fraudulent activity or at least some nondisclosure in some of those particular deals. And it sounds like maybe collateral getting used twice, if you will. Yep. You know, essentially using the same collateral on two different loans and neither one, you know, probably knowing about it and thinking they’ve got the first, you know, first lien on it. But it gets complex quickly. But, you know, why is it important? You know, it’s important because if you look back at, you know, kind of if you look back at, you know, essentially March of 2023, last go around, you know, it was really after we had Silicon Valley Bank and a lot of that, you know, all that turmoil kick in. And then the one thing that pulled it out. announcement of something we like to call ChatGPT, and then we had the first NVIDIA earnings report that rocked the investment world, and then AI took off ever since. So really, I’ll credit AI for finishing off the regional bank crisis. um in uh you know in march of 2023 and you know if we look i was looking at the number of of deals this week jeff in terms of you know we had a bunch of stories we didn’t even get to on monday i mean on wednesday and uh you know a lot of those were uh just you know deals that have been done in the uh you know in the ai space and of course you know what it just seems with no matter what tailwinds or headwinds are out there for the market that you know really since you know, March of 2023, you know, kind of that AI trade has, you know, kind of just been the stalwart pretty much through, you know, through thick and thin. Of course, you know, he got caught up in it and just like everything did in the market and during the tariff tantrum in the first part of first part of 2025. But, It’s just amazing when you go through. I mean, yesterday you had just this morning, I think, a deal announced with Meta and Blue Owl, essentially a $30 billion deal. They’re buying a big data center. infrastructure project in Louisiana. One of the biggest purchases, I think, in terms of private capital deal on record. And the interesting thing about the project is to be completed in 2029. So You know, there’s some runway there, right? And so that’s where, you know, as Bill talks about long duration, you know, a lot of these deals, you know, you kind of, you know, this isn’t, I don’t think these are necessarily the first and last set of deals. I think, you know, these companies are trying to build out this infrastructure for an extended period of time. We talked about NuScale. They had the massive Texas AI data center for Microsoft. They’re basically buying, what, 200,000 NVIDIA chips for? And you’re talking about these projects in megawatts where it’s a 240-megawatt hyperscale AI campus. And it’s going to have – NVIDIA is going to deliver 104,000 GB300 GPUs. And, of course, earlier we had the BlackRock NVIDIA.
SPEAKER 03 :
talking about their acquisition proposal for Align data centers. Yep. $40 billion. I checked that. Not acquisition, but investments in them. So, you know, Meta is aligning with Blue Owl, BlackRock, NVIDIA. Some other investors are going with Align data centers. And it’ll be interesting to see how these, emerging players, you know, compete against the, you know, the legacy data center companies, you know, Amazon Web Services, Microsoft, Azure. That’s something that I’m very intrigued to track and see how those relationships play out and, you know, to see if these guys, in fact, disrupt the, you know, the old school guard as it relates to the data center business.
SPEAKER 02 :
Yeah, and it’s, I mean, and it’s global, right? I mean, you’ve got, you know, announcement of Microsoft renting a data center capacity in Portugal, you know, via NuScale, right? I think they’re going to, you know, there they’re going to utilize, you know, 12,600 units. NVIDIA Blackwell Ultra GPUs, right? And so just building capacity, not just here, but abroad where I believe NuScale is working and Microsoft are working with… the UK to make their largest AI supercomputer, right? I mean, it’s the story where, and it’s not just NVIDIA now, right? You’ve got a story this week where Oracle is going to deploy 50,000 AMD AI chips, right? Right, and so essentially… What did I say?
SPEAKER 03 :
Oracle’s projecting that their data center revenue is going to be like $144 billion by 2030?
SPEAKER 02 :
Yeah, with like a 30% to 40% gross margin, I believe, as well. Unbelievable.
SPEAKER 03 :
I mean, it’s like the proof’s in the pudding. It’s all based on conjecture and their planning and stuff like that, but that’s substantial, Barry.
SPEAKER 02 :
Well, and, you know, and that’s the, you know, and I think kind of early estimates, I believe, you know, were, you know, you had, I think it came out last week that, you know, the gross margins were going to be potentially 15% when historically they’ve, you know, for data center, you know, it’s been in that 30 to 40% range. And I think, you know, whether it’s a CapEx involved at the beginning or, you know, just whether it’s, you know, the use of energy or what they were expecting, you know, potentially those margins to be much smaller and, And Oracle, I think, has kind of proved that they’re going to be in the 35% range. And when you do the math on – and they gave a five-year earnings target, actually, in the – in the example that they gave. And, you know, their five-year, you know, earnings figure is much higher than, you know, than the street at this point, which, you know, if you look, it doesn’t have to be a genius. Look at the chart of Oracle and what it’s done. And, you know, you can see the days that, you know, earnings-driven news or revenue-driven news has pushed that stock up. Like Bill says, you know, stocks follow earnings, right? And so… And that’s where kind of the bubble talk versus AI is going to work and we’re going to have lots of productivity gains, right? And it’s going to pay off in these particular areas and you can actually equate it into better margins or what have you. So, you know, that’s kind of the, you know, on one side of the argument, right, you’ve got, you know, kind of that bubble narrative. This is like, you know, 2000 or, you know, or what have you. And there’s, you know, smart people who’ve written papers, you know, from in that camp. And then, of course, you know, there’s people, you know, on the other side who are, you know, have highlighted, right, even some of the early stories. benefits that we’ve seen and just you know in terms of future investment of three trillion dollars over the next handful of years so um you know kind of both sides can be a little bit right along the way it’ll just see uh you know there’s going to be certainly winners and losers in that space as we keep going which is what makes this exciting on a day-to-day basis well we’re uh third through the show uh three-fourths of the way through the show and we’ll be right back for the final segment of the week it’s about
SPEAKER 07 :
Do what you want to do with it.
SPEAKER 02 :
And welcome back to the October 17th edition of the Best Docs Now show. At the end of the week edition, I’m Barry Kite, planer and analyst here at Gunderson Capital, sitting in for Bill today. And as he finishes up the week, speaking out at the St. Regis on Longboat Key in Florida, hopefully sunny Florida today. And, of course, as always, we’ve got Jeff Webster joining me on the show, advisor here at Gunderson Capital. And still excited. Still teetering around even today. We’ve got the NASDAQ down basically three basis points now, down seven points. We’ve got the S&P up almost three points. And we’ve got the Dow up just under 100 points. So biggest mover is the Dow up 0.22%. Everything else is basically flat today. Gold gaining some back there. It was down about 2.5% earlier, down only about 1.63% at the moment. It’s on track to actually finish for its best week in five years, by the way. Jeff, you know gold must be moving if somehow I know that stat.
SPEAKER 03 :
Well, it’s everyone’s acting on J.B. Diamond’s tip that it’s for the semi-rational person or whatever it was that he stated, right?
SPEAKER 02 :
Yeah, I mean, I think if most of us were semi-rational investors, we’re probably doing pretty good. But, you know, I think it’s interesting in terms of, you know, as we’re talking about, you know, AI and it’s kind of the risk of AI and, you know, all the benefits. You know, it’s also, you know, there’s also going to be winners and losers along the way. And, you know, I think it’s interesting. It makes sense to highlight Astero Labs this week was kind of on the losing end of it in terms of there was a deal, I believe, with AMDs and Oracle’s partnership. Like we said, Oracle was going to buy. What, 50,000-something chips from AMD. Some of that news hurt Astera. I mean, they were down one point this week, I think almost 20%, 19%. I mean, if you look at the stock and where it was from a chart standpoint… um i think uh you know we owned it for a bit i think we we finally exited the full position i think it was uh at the very end of september september 30th to be exact but um you know the stock wasn’t i don’t know trading around 150 range since then and so you know you’ve got uh you know we’ve had a lot of these names you know amd was a was a quiet one right for an extended period of time and then of course now You look at the direction it’s gone in, and then, of course, you look at the direction of, you know, not picking on, you know, A-Lab, but it’s just, you know, that’s one that, you know, you’ve got for every winner, you know, there can be a loser in some of these big deals that are kind of going back and forth out there. So that’s… You keep hearing that it could be, you know, circular capital, right? I’ll do a deal with you, then you do a deal with them, and it all comes around and, right, everybody benefits. In this case, it would have been, you know, in that particular deal, it would have been more like, you know, musical chairs and everybody had a chair. And then, of course, there’s, you know, A-Lab is sitting there, you know, kind of didn’t have a chair when the music stopped, at least in that sense, right? Yeah.
SPEAKER 03 :
Well, I spent 30 years in the software space, and we were involved in plenty of balance of trade deals where it’s like, okay, you know what? You guys want us to buy this. We also provide this, which you can utilize in your operation. Let’s do some horse trading here and figure out how we can do some work together. So you see a lot of that happening. You know, you see, yeah, there’s just, you know, some interesting results out there. You know, you mentioned interactive brokers reported yesterday. They beat their estimates. I like to track those guys. I like to track Robinhood. You know, of course, a few weeks ago, you and I had an opportunity to meet with a good friend of the show who works for Robinhood. They’re in Santa Clara. That was an enjoyable conversation. Yeah, yeah, to get his perspective on things. SoFi is kind of in that space as well. You know, you have Bull that’s stepping up now as well. So some of those folks that are, you know, attracting the new gen investors, you know, As platforms that allow those people to do their trading and investing and stuff like that, I think are picking up steam for the self-service types of folks and do-it-yourselfers.
SPEAKER 02 :
Yeah, and if you look at IBKR, I mean, you know, interesting. I always use some of these numbers as kind of, you know, fervor for appetite, right, for risk out there. And, you know, their Q3 revenue and earnings beat, right? The trading volume in stocks surged 67% year over year. Options trading volume was up 27% year over year. And so… And, you know, the way I look at that is, you know, and you’ve got to remember, that’s year over year, right? So we’re, you know, we’ve been in recovery mode in terms of the market, really. I think that this particular leg up since the correction in 2022, I believe, just started. I think it’s, you know, three-year anniversary was a few days ago. So, you know, not only that, I mean, it had been a great time up to, You know, 2024 in the markets, right, 2023, 2024 were great years. Well, you know, they’ve got 67% more volume right now than they even did then. So it just shows you kind of how that, you know, further and just the, you know, the trading activity, you know, how much, you know, You know, in terms of as the market continues to hit all-time highs, right, we keep, you know, pushing up and valuations push up, and that’s where, you know, where we get a little, you know, Bill gets a little restless in terms of, you know, having to, you know, keep an eye on and be vigilant there.
SPEAKER 03 :
Can I offer up just a recommendation? This week I just started a book, 1929. by Andrew Ross Sorkin. He’s the individual that, he’s a co-host of Squawk Box. He’s a creator of billions. Yeah, too big to fail. But I just started that book and it’s fascinating, you know, to dive into it. And it really gives you an opportunity as an individual and as a consumer to think about how you utilize credit and to understand, again, how credit It can be a good thing, but it also can be a bad thing. And, you know, if anyone’s looking for a good read, highly recommended. I’m enjoying it. You know, I’m several hours into it, and it’s so far so good, and I’m learning a lot.
SPEAKER 02 :
Well, yep, I’m going to pick that one up too. You got it on my list. And, of course, to stay up to date with that and other thoughts on the market, get Bill’s newsletter at GundersenCapital.com. That’s GundersenCapital.com. Or if you’d like to have a discussion with us, give us a call, 855-611-BEST. That’s 855-611-2378. Have a great weekend, everyone.
SPEAKER 04 :
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.
