Join professional money manager Bill Gunderson and financial analyst Barry Kite as they dive into the week’s market trends and their potential impacts on your investments. From the fluctuating crude oil prices to geopolitical tensions in the Middle East, this episode untangles the complexities that are currently shaping the financial markets. Learn about the implications of Iran’s moves in the Strait of Hormuz and discover the stocks and sectors poised for growth amidst the turmoil.
SPEAKER 01 :
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 03 :
And welcome to the Monday morning. Oh, it’ll be another week full of surprises and breaking news coming out of the Middle East and other places. This is Bill Gunderson. It is the Best Stocks Now show. And I’m here with Barry Kite, our chartered financial analyst, certified financial planner. We’ve got a mixed market today. With the Dow up a little bit, the Dow is up, let’s see, 0.03%. Not much, but it’s up. The NASDAQ is down 43 points. A little bit of weakness in the red-hot chip sector. The S&P is down 1.5 points right now. And the biggest commodity price of all right now, the one that everybody is watching so closely on a daily basis, crude oil is up 1.81% to 96.11%. And I’m going to say that’s the main reason that there’s weakness in the market today. Generally speaking, as crude oil goes up, and it’s just kind of surged here in the last 30 or 45 minutes here to 96.11, the market goes the opposite way of oil. U.S. Treasuries are at 4.32% right now, 4.32%. A little too high in my book. They need to come down. And last but not least, Bitcoin. Bitcoin is down $295 to $77,821. So welcome to today’s Best Stocks Now show with professional money manager Bill Gunderson. Henderson Capital Management. I’m here with Barry Kydar, Chartered Financial Analyst and Certified Financial Planner. And it looks like another week full of fun. Barry, it’s going to be a very big week in earnings. I don’t have a calendar. Seeking Alpha used to have a calendar. Who’s going to report this week?
SPEAKER 04 :
Yeah, I don’t have the calendar in front of me either. But I did see, I think, five of the seven, magnificent seven, assuming that that exists, are going to be reporting this week. Of course… No rest for the weary. We had plenty of news over the weekend as well.
SPEAKER 03 :
Well, what do you mean? There was only an attempted assassination at the press dinner at the White House. What else did we have? The Strait of Hormuz is always the headline. And Iran reaching out to Russia. Wars and rumors of wars. Other than that, it was just your average weekend. Next Saturday will be the Kentucky Derby. Nothing else really matters other than that. I watch it every year.
SPEAKER 04 :
We’re going to get your Derby preview.
SPEAKER 03 :
I don’t even know who’s in it this year.
SPEAKER 04 :
Yeah, I don’t even know who’s in it. I bet you’ll know it by the end of the week. Probably. You got it right last year, so you’ll have to give us our pick this year.
SPEAKER 03 :
That’s true. Okay, well, Iran offers a deal to the U.S. to reopen the Strait of Hormuz. But this here to me is a major red flag. They want to delay the nuclear talks. And in the meantime, the foreign minister is meeting with Russia. What do they have up their sleeve? I don’t know. But the market doesn’t like it. They smell a rat today. Iran gave the U.S. a new proposal to reopen the Strait of Hormuz. What does this have to do with the stock market? Well, right now, just about everything. And end the war with nuclear negotiations postponed for a later stage. In other words, until they have a nuclear weapon, Barry, is what it sounds like to me. That’s what Axios is reporting, citing a U.S. official and two people with knowledge of the matter. And this plan has been conveyed through mediators in Pakistan to break a stalemate with Washington. It calls for extending the ceasefire. Well, of course, they would want that so the parties can work towards a permanent end to the fighting. Will there ever be a permanent end to the fighting with Iran? I don’t know about that.
SPEAKER 04 :
It seems like Iran has never wanted a permanent end to any fight.
SPEAKER 03 :
No, not until they get a nuclear weapon. And nuclear talks, they’ll come later, only after a U.S. blockade of the Strait of Hormuz is lifted. Aren’t they something? I mean, they’re bargaining from a very weak place, a very weak place. They’ve had the you-know-what kicked out of them. Their stomach’s punched. They’re on the ropes, bloodied, and yet they bounce off the ropes. I used to watch those guys. They’d throw some guy in the ring with Muhammad Ali so he could earn his $4 million, $10 million paycheck. By the third round, he’d be a bloody pulp, right? But he’d get $500,000 or whatever for climbing in the ring with the great Muhammad Ali, who I saw fight. In San Diego, I saw Kenny Norton actually defeat Muhammad Ali in his later years and actually break Muhammad Ali’s jaw. And Kenny Norton became the heavyweight champion of the world. He was a Marine from San Diego. And his son, Kenny Norton Jr., became a football player for the 49ers, I want to say.
SPEAKER 04 :
Yeah. He may have played for the Cowboys, too. I think he played for both. And then he won the Super Bowl, at least one, maybe more.
SPEAKER 03 :
Yes. So I’ve seen a little bit in my lifetime. And I remember my late father, somehow he wrangled two tickets. I’d never been to a prize fight before. And back then, prize fights were a really big deal. It was Howard Cosell would be there calling the fight live. And he loved Muhammad Ali. Those two were quite, oh, Muhammad, what do you think about your fight today? It was something. And I was there. Kenny Norton, I’ll just tell you a little side story. We had a hypnotist in San Diego called Dr. Dean. And he had like a nightly show at the Gaslight Room in San Diego where you would go and the members of the audience would get hypnotized and do crazy things and whatnot with each other. He had Kenny Norton under hypnosis of some sort. He was sitting right by the ringside staring in Kenny Norton’s face as Kenny Norton punched away at the great Muhammad Ali until he eventually broke Muhammad Ali’s jaw. So there’s a little side note there. I’ve seen quite a bit in my life, and I’m sure there’s a lot more to come. Anyways, we’ve got a Hormuz ceasefire deal. I don’t think, do you think they bite on that deal at all to put off the nuclear negotiations? To me, that’s the number one issue out there right now.
SPEAKER 04 :
To me, it just seems like they’re continuing to delay, right, which is what they’ve – I mean, that’s what they’ve done for years. They’ve been known as tough negotiators mainly because they won’t compromise, not because they’re great at negotiating. It’s really just because they’re stubborn. The question is, who are we actually talking with? Still a lot of the same. The song remains the same. We’ve got all the same questions that we started last Monday with, I feel like.
SPEAKER 03 :
Yeah, and I don’t think Trump has a lot of patience. I mean, he’s got those aircraft carriers and those fighter jets out there. They’re gassed up, ready to go.
SPEAKER 04 :
He’s got the third one out there that’s got a laser beam on it that can shoot down drones and everything else. So it seems that at some point it’s going to come to a head, and we’ll see. I don’t know what that’s going to look like.
SPEAKER 03 :
And in the background is the stock market where I manage portfolios every day. By the way, we hit a new all-time high on Friday as a firm. We had one of the best weeks we’ve ever had in the market during my 25-year history in the markets. What I want to know is, who is this Iranian foreign minister, Abbas Araghachi, who’s arrived in Russia? where he is expected to meet with President Vladimir Putin even as negotiations with the U.S. reach a stalemate over the weekend. He wants to coordinate cooperation and advance joint programs. Could that have nuclear implications?
SPEAKER 04 :
Well, it’s got drone implications because they’ve been making drones for Russia. And in this sense, it’s kind of interesting because it’s really in Russia’s, at least it seems like lately, it’s been in their best interest for this to keep going because they’ve been able to sell oil during this whole confrontation. So it’s interesting to see if Russia really wants to wrap this up or just wants to make it more complex.
SPEAKER 03 :
Well, Iran and Russia are in a united front in the campaign of the world’s totalitarian forces. I think you could throw China in there, too. And maybe a little bit of Pakistan. Against independent and justice-seeking countries. like us and others in the Western Hemisphere. And so really, to me, it’s a battle of good versus evil. I don’t know how else you can put it. And of course, you’ve got Israel in the mix also. And of course, this does all play into the stock market. This show, obviously, is called Best Stocks Now, but when you’ve got a backdrop like this, not only does it impact your food prices at the grocery store, your fertilizer at Home Depot prices… The cost to fill up your gas tank, things you buy at Costco, it also affects your IRA, your Roth IRA, your savings accounts, blah, blah, blah. Okay, when we come back, we’ll get into a little bit more color, a little bit more detail, especially on the earnings front. That’s where I want to go. We’ll leave the war front, and we’re going to go to the earnings front when we come back. And welcome back to the Best Stocks Now show with professional money manager Bill Gunnarsson and Barry Kite, Chartered Financial Analyst. Well, let’s just put things in perspective. The S&P, oh, we’re almost four months now into the year, one-third of the way. The S&P is up 4.7%. Barry, I’m just going to say it right now. Our premier growth portfolio as of Friday is up 14%. And the ultra growth is up 20%. I’ve seen it.
SPEAKER 04 :
We’re looking at clients’ portfolios and running comparisons. Ran one this morning.
SPEAKER 03 :
And a lot of people have a mix of those two portfolios. The NASDAQ is up 6.9%. And I would say that our ultra-growth is probably our NASDAQ mostly tilted portfolio. And again, it’s up 20% year-to-date. But get the newsletter. The newsletter has every single buy, sell. fee taken out of it that is real life. S&P 600 is up 12.4. Small caps have actually had a pretty good year this year. ARK, Cathie Woods, is down 0.5%. Europe is up 4.1%. Bitcoin is down 11.2% so far this year. And crude oil is the big one. Since the beginning of the year, crude oil began at $56.22. That’s where the fundamentals of oil are, $56.22. And where are we right now? Well, oil is up. It’s at $94.40. It’s up 68% year-to-date. And that’s why we talk about the Strait of Hormuz. We’re discovering a lot more than just oil goes through that Strait of Hormuz. A lot of the materials to make silicon wifers, chips, semiconductors go through there. Helium goes through there. Aluminum goes through there. Fertilizer goes through there. All of this has an impact on those things that we buy. And there’s a lot of petroleum-based products from lip balm. I mean, on and on and on and on. It’s almost endless. how many petroleum-based products that we use on a daily basis in one way or another. The earnings picture. It’s in everything. Petroleum. Everything. Yes, it really is. Pretty much. Yes. They used to have, well, they used to call it, maybe they still do, even like where you got dry skin and you rub petroleum jelly on your skin.
SPEAKER 04 :
Oh, yeah, petroleum jelly. I mean, anything plastic. Vaseline. Yeah, any plastics. I mean, it’s literally in almost everything.
SPEAKER 03 :
It’s really kind of a miracle ingredient. Oil from the ground? Where did it come from? What made it? Rotting dinosaurs? I don’t know. And it seems to be an endless supply, and it fuels the world. It seems like God put it there for our use as long as we don’t abuse it and whatnot. Yet the world at times is dead set against it in certain areas. Well, anyway, here’s your most important stat of the weekend. As I did the newsletter, here’s the stat that blew me away. The blended net profit margin for the S&P 500 for Q1 2026 is 13.4%. If 13.4%, if we end this quarter with that profit margin, it will mark the highest net profit margin reported by the index since FactSet began tracking this metric in 2009. 13.2% was the previous record, and this quarter is expected 13.4% profit margin. Now, that’s across the board. Some companies have a single-digit profit margin. Some companies are losing a little money. Some companies are barely break-even. Others have got a 2%, 3%, 4%, very low profit margin. But when you average all 500 companies, We’re expected to come in at 13.4% this quarter, which will be the highest number since we started keeping track of this number on the S&P 500. But wait a minute. Oh, no, we’re not done there. Guess what the expectations are for the next quarter? Actually, the quarter that we’re currently in, 14.1. Wow. And the quarter after that, 14.6%. What do you attribute this profit margin getting so fat here over these last several quarters?
SPEAKER 04 :
I’ll give it two names, actually Micron and NVIDIA.
SPEAKER 03 :
That helps.
SPEAKER 04 :
If you look at the NASDAQ, I think of that earnings growth, I need to go back and look at the number, but I think I want to say 60% of the earnings growth in the NASDAQ is coming from Micron and NVIDIA.
SPEAKER 01 :
Yes.
SPEAKER 04 :
So it’s a, you know, so you, not only do you want to, you know, that’s your point of needing to be in the right places, right? Be in the right sectors, be in the right stocks, right? Well, if you’ve got, you know, a bunch of that earnings growth coming from two names, it makes sense to maybe be in those two names, right?
SPEAKER 03 :
Yes. You don’t want to be the companies that are paying and creating those big profit margins. You want to own the companies that are receiving and seeing their profit margins expand now the forward pe ratio and let’s not forget that profit margin it’s way more than just two companies though because it’s the average over the whole s&p 500 uh so there’s a lot of others i mean the broadcoms and the amds of the world and the nvidia’s nvidia had a terrific week the chips had a terrific week last week The forward PE of the S&P goes up from 19.8 to 21.3. When it got down to 19.7, we sent out the green flag. We went out there on the racetrack. uh… the indianapolis five hundred which is coming up i think at the end of this month memorial day right and wave that green flag is that it’s time to go all in now we’re not one hundred percent invested right now but we’re were were pretty well invested i mean If you’ve got an ultra-growth portfolio that’s up 20% right now, you can’t say, well, you’re only 70% invested. I would say, well, that’s something in our favor. We’ve done it because we’re still a little bit cautious because this is still a very, very tenuous situation right now in the Middle East. Oh, my gosh, with their foreign minister going to talk with Putin? It reminds me of Ezekiel chapter 38. You go ahead and read it tonight. You see what it’s all about, and you see which two countries get together in the end for the big one. I’m not saying this is the big one, but they are the two major players in the war to end all wars, I suppose, or the world, whatever the case may be. So anyways, we got down to 19.7 forward P.E. Man, that was a screamin’ bye. Now we’re at 21.3. And people say, why didn’t you buy anything last week? Because the market was roaring on a daily basis. You wanted to be in and be buying in the weeks leading up to last week. And I really, literally did sit on my thumbs last week and just watched every day as our things went higher and higher and higher. I did a little buying, adding to some positions. But you know what? Timing is everything in the buying and the selling here. 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.
SPEAKER 08 :
Pull out the instigator, because there’s something in the air.
SPEAKER 03 :
And welcome back here to the second half of today’s Best Stocks Now show. A little bit more here on this earnings front. I talked about a record profit margin. Now, theoretically, you could have record profit margins without earnings growing. That means that they were just trimming their budget and trimming their costs and expenses. But no. You’re getting expanding profit margins because of expanding earnings. That’s the best of all worlds when you have them both. Let’s just go back to 2025. Do you remember 2025? It wasn’t that long ago. It was about five months ago. The S&P 500 as a whole made $271 per share. Put a 20 multiple on that. You had a 5,400 valuation on the S&P back in 2025 last year. And, of course, we did get all the way out to 23 times earnings. I’m just using 20 as kind of a rounded-off number. $271, that was a record, a record haul of earnings. But now we go to this year. which is already now four months into the books almost, we’re going to make $325. That’s $54 more than we made last year. That’s about a 20% increase year over year in profit. That is the total profit for the S&P 500. But wait, we’re not done yet. Next year, 2027, where we already got have quite a bit of visibility into 2027 believe it or not that’s the way the market works $376. That’s another 15% growth in earnings. And it’s, yes, there are stocks in there like Micron and what’s the other one you mentioned, Micron? Oh, and NVIDIA. NVIDIA, yes, and AMD and all the rest. But as a group, that is the earnings picture. right now, which is just absolutely incredible. Absolutely incredible. I’ve never seen anything like it. There’s one other factor. Not only have I taught for the last 25 years here on the radio and in the newsletter and at my workshops and at my seminars that stocks follow earnings. Yes, they follow earnings. They also follow earnings expectations. As earnings expectations go up, you saw that last week in spades when GE Vernova guided higher. Mm-hmm. Now, those earnings aren’t in the books yet, but they guided higher. And what did the stock do? It explodes for a 17% move, whatever it was. And this estimate right now for 376 per share next year, that’s gone up from 340 over the last six months. So earnings estimates have gone from 340 for next year to 376. So you have the best of all worlds.
SPEAKER 04 :
Yeah, I found a stat too, Bill. The Micron alone accounted for 51% of all S&P 500 earnings revisions since February of 2026. So all these earnings revisions that we’ve seen over the last couple of months here, 51% of that growth is Micron alone, which is unbelievable, by the way.
SPEAKER 03 :
Okay, and now I’ll give you another startling statistic on Micron. If we go to the My Best Stocks Now app. that i invented and i use uh… it’s the it’s the engine if it’s the drummer in my band it’s uh… john bonham in the song remains the same the drummer kind of drives the beat along with the bass player john paul jones or paul mccartney with his left-handed bass uh… guitar with the beatles uh… they drive the bus and best stocks now ap drives the bus What was my number one pick? I picked two, but really the number one. Okay, no question about it. All right, let’s see. How did Gunderson do? Last year it was Palantir, which was the number one winner in the S&P 500. You know, I’m starting to sound like really full of myself here today. I don’t mean to be that way. I’m just giving you facts of what we’ve achieved here so far in 2026. I’m really quite a humble guy at heart. But facts are facts. Micron, year to date, is up 74.1%. So if you got my newsletter in late December… where I named my number one pick and number one B or two pick, which hasn’t done all that well. Lilly, I think, is maybe flat so far in the year, despite their blockbuster drug product for weight loss. Micron’s up 74% since the beginning of the year. Not too bad. The only one that’s really kind of outdone it, but it’s not, I don’t think SanDisk is a member of the S&P 500 group. SanDisk, which, and by the way, they’re having big strike problems in South Korea. I think it’s Samsung. Their production of flash memory has plunged by 80% because the workers are on strike.
SPEAKER 04 :
They get a worker strike, yep.
SPEAKER 03 :
So that just makes it even worse. That would be like the guys in the Strait of Hormuz saying the dock workers are on strike. In addition to nobody, you know, that’s just not good. All right, so 2026 so far, SanDisk is up 317% since the beginning of the year. And we do own SanDisk. We haven’t owned it since the beginning of the year. I wish we would have. It was probably my third best pick for this year behind Micron and Lilly. And I would say SanDisk was probably number three. Okay, let’s go back now. Let’s back out of this. Oh, well, I do want to say about the earnings once again. The consensus target price for the S&P 500 right now is about 8,300. We are below that. But I feel like there’s still plenty of upside potential, especially if you’re a stock picker with the kind of growth that we’re experiencing. Now, a lot of this easy money has been made here over the last four weeks since I put out my, what did I call it? Compelling, compelling buying opportunity. Compelling. Somebody complained that we didn’t buy enough. Well, pal, we’re up 20% year to date, and I think we’re 75% invested. I’d have to look at the portfolios that I keep track of so meticulously every week. And don’t forget, there’s still a big old risk out there called Iran, who’s reaching out to Russia, and Russia obviously is a nuclear state. And that’s just a lot of risk that remains in the market. I don’t want to be peddled to the metal 100. We’re doing fine. Just fine with being 75 or wherever we’re at right now. I don’t have it in front of me, but I know that’s about where we are at the current time. Okay, now we’re going to go back to news that’s coming in here today. We’ve had earnings from Verizon. Oh, boy. There’s a market winner. Not. Verizon, which pays that big, giant dividend yield that some people think… Well, what do I care if the stock doesn’t go anywhere? I’m collecting a dividend in the meantime of 5.9%. Well, you go ahead and collect your dividend yield of 5.9%. You know, Micron’s up 74% this year without a dividend yield. And Verizon has, here’s their earnings. Their sales growth over the last 10 years is averaging about 2% per year. 2% per year. All things being equal, you’re going to get the dividend and about 2% per year. And that’s about how it averages out. If you would have bought Verizon, we have an article out there on Verizon, by the way. I think that was my junior analyst, one of his first projects that he did under my wing. And we wrote up Verizon saying, should you buy that big 6% dividend into Verizon right now? And we said, no, because look at the total returns of Verizon. Let’s just run that. We just talked about Micron and SanDisk. If you own Verizon, if you bought Verizon 10 years ago and you’ve collected those dividends along the way, this is one of the beauties of the Best Stocks Now app. that I invented. When I invented it, I said, as a money manager, I need to find the results of the stock very quickly. You can do that with a mutual fund, but you couldn’t do it with the stock. And I was mad. And rank it up against the rest of the market.
SPEAKER 07 :
Yeah.
SPEAKER 03 :
Verizon, over the last 10 years, has averaged a paltry 4.55% per year. The S&P 500 has averaged 24.3%. That’s why you won’t find Verizon in our portfolios, but you will find it in about every portfolio that comes out of a wire house firm on that place called Wall Street. We’ll be right back.
SPEAKER 07 :
Where you want to go Do what you want to do With whoever you want to be
SPEAKER 03 :
And welcome back here to the final segment of today’s Best Docs Now show. How far out is Minnesota? I don’t have my calendar in front of me, Barry. We’ve got about three weeks.
SPEAKER 04 :
April the 27th. Three weeks from today.
SPEAKER 03 :
Three weeks. Yeah, three weeks from today. Okay, three weeks. All right, so we’re going to have someplace by tomorrow. We’re going to have, if I have to call the Motel 6 over there in Egan. We’re going to have a venue by tomorrow. All right. I just need a room big enough to teach my workshop on Tuesday night and someplace for us to meet with folks during the day. In the meantime, it’s going to happen. The venue will happen by tomorrow, and you better reserve a spot. Every workshop we’ve done recently has been standing room only. Maybe Houston there was a little bit of room. I don’t know. I don’t know. There was no cookies left over. They were wiped out. But anyways, you can reserve a seat to Gunderson’s workshop on best stocks now, the whole theory behind it, the results it’s achieved, and how you can implement it into your own investing. You got a call to reserve a spot to the workshop to make sure we got enough cookies and seats. I’d rather have a seat than a cookie, to be honest. Call us at 855-611-BEST. 855-611-BEST. or to set up an appointment, a one-hour appointment with us, a one-hour appointment with us, that same number, or both. Hey, I want the cookie, I want the workshop, and I want to come meet with the team from Gunderson Capital to discuss my portfolio, 855-611-BETH. I had somebody approach me yesterday in the hallways of the church, the hallowed hallways of the church, and He started talking to me about how he had just sold this giant apartment complex. The guy’s quite a player here in the Charleston area. He was in his day. He was one of the biggest builders. He says, I got my money with Morgan Stanley. I want to talk to you. I just thought to myself, if he’s with Morgan Stanley, my brother was with Morgan Stanley. Oh, yeah. Oh, my brother sent over his portfolio. This was a few years back. And I saw them all, the wonders of Wall Street, AT&T, McDonald’s, Procter & Gamble, Accenture, you know, just right on down the line, Johnson & Johnson, every darling of Wall Street that we call soggy. Stodgy old growth giants of yesteryear. They’ve been replaced by AMD, NVIDIA, Lilly, Micron, Arista Networks. The list goes on and on and on and on and on. And I just commented to him, I’m being honest. I’m at church. I can’t lie. In the hallways of the church, I’ll be struck by something, lightning or something. I said, you know, those guys are useless. And he looked me in the eye and he said, useless. Okay, well, I’m sure they’re not useless. They’re providing something. But as far as portfolio management and creativity and making money for the client, they’re notorious for tying up your portfolio, making you dedicate pledged shares. You ever see that one, Barry? No.
SPEAKER 04 :
Yeah, the pledging shares.
SPEAKER 03 :
So you can’t transfer out, right?
SPEAKER 04 :
Right, yep, because you’ve got a loan or something, right? Or they’re using your – you’ve pledged your shares for them to do short positions, other things like that, right? They figure out a way to put as many hooks in you as possible.
SPEAKER 03 :
Yeah, yeah, a lot of hooks. It’s like that – I pulled up my crab trap the other day from my dock here, and I had about six or seven nice blue crabs and a few stone crabs. And I put my hooks in them, and they couldn’t escape until they ended up in that pot of boiling water that Morgan Stanley. They all do. All the Wall Street firms throw you into that boiling water. And your claw comes up one last time to reach in and grab the broker into the water with you, but it’s too late. I’m just kidding. I just have a very negative attitude. towards the big brokerage house firms. Because you know what? The very first experience I had in this industry was with Merrill Lynch. And they put me into, as a young man in my mid-30s. What, in some limited partnerships? Limited partnerships in Temecula. Ever hear of Temecula? Business parks, totally illiquid, limited partnerships. And, oh, by the way, they had a little thing called the recession back in the early 90s. That was the savings and loan crisis.
SPEAKER 04 :
Well, and they also made a lot of those partnerships that were created for tax loss purposes, and they made a lot of those illegal. So then, of course, the value of those partnerships basically went to nothing.
SPEAKER 03 :
Mine went to nothing, like 50 grand. That was my initial foray into the market by Merrill Lynch in Temecula. And I said, damn it. I’m going to learn this myself. Do that yourself, yeah. And here I am 40 years later, 35 years later, running circles around those knuckleheads. And they’re still doing the same exact thing. So that’s where my distaste comes from. We’ll call it angst. Well, and the other part of this is back in those days, the brokers got like an 8% or 9% commission. So if you invest $50,000 into a limited partnership, you’re immediately out. You’re down 10% right on the get-go because the salesman got it. You’re only getting $45,000 worth of property because the salesman, he got his cash commission on his paycheck. And that’s when they were not fiduciaries. A commission broker was not a fiduciary looking out for me. He was a greedy SO, you know what, looking out for himself. And I learned that lesson. That lesson served me well, though. You can turn something bad into something good. It created an entire career for me as a disruptor of Wall Street. And proud of it. And I’m going to continue it. All right. We’re out of time. This has been fun. Earnings, earnings, earnings. The Strait of Hormuz, the Strait of Hormuz. Those are the two major forces in the market right now. Earnings continue to win out for now. That continues to be a ticking time bomb in the Middle East, especially if Russia and Putin get involved with Iran. But we watch the current news every day, breaking news. We watch the earnings reports every day after the close, every morning before the open. We do the newsletter every week to sum it all up. You can get four free weeks of the newsletter, the app, the live trading alerts at 855-611-BEST. Or you just set up an appointment with us and say, I witnessed what you have, Bill, and I’m sick of it. I’m not going to take it anymore. Just give us a call. We talk with people all over the country. I think every state in the union, really. 855-611-BEST. Keep Barry busy. Keep him busy. 855-611-BEST.
SPEAKER 02 :
Have a great day, everybody. 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. Gundersen 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.
