In this episode, professional money manager Bill Gunderson discusses the latest earnings and market movements with co-host Barry Kite. Learn about the impact of Broadcom’s significant earnings publication and their role within the evolving tech landscape. The episode further explores Tesla’s advances in autonomous driving technology and how AI continues to redefine markets globally. Additionally, discover why leading tech companies are fostering political ties and what this means for the future of innovation.
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 Gunderson Capital Management. Here is professional money manager, Bill Gunderson.
SPEAKER 07 :
And welcome to the Friday the 13th edition of the Best Stocks Now show with professional money manager Bill Gunderson, president of Gunderson Capital Management. I’m here with Barry Kite, our chartered financial analyst. We’ve had a yo-yo kind of week for sure this week. PPI sends the market higher, or the CPI, then the PPI sends the market lower. And today it’s all about Broadcom. big earnings from broadcom they’re up 21 right now and that’s carrying the nasdaq although the nasdaq was higher starting to give up a bit of its gains it’s up 95 that’s a half a percent it’s at 19 997 right now we’ve surrendered that 20 000 high but we do have a little bit of uh oomph today from coming along from broadcom the dow is down nine points however the dow continues to be fairly soft the dow’s at 43 905 the s&p is up 11 to 6062 the 10-year is uh right now uh Up a little bit. We have had a lot of volatility also this week in the bond market. And we’ve got Bitcoin right now is, let’s see, Bitcoin is up $1,000. to just over $100,000. So welcome to today’s Best Stocks Now show with professional money manager Bill Gunderson, president of Gunderson Capital Management, a nationwide fee-based only firm. Here we are on Freaky Friday, and not only is it Freaky Friday, where a lot of times you see the gains in the morning dissipate during the day as we head into the weekend. Kind of seeing that here this morning, but it’s also Friday the 13th, so that adds a little bit more of some spookiness to today’s market. We were up, you know, more than we are now, but we still are. The NASDAQ is still up. It’s mostly Broadcom, A-V-G-O, and that’s carrying the chip stocks higher.
SPEAKER 06 :
Screaming up today. Hit over $1 trillion for the first time for Broadcom, so congratulations to them. Yes.
SPEAKER 07 :
And they always have been on kind of the circle of AI, but in kind of the outer perimeter of the AI circle, not right smack dab in the middle like NVIDIA and ASML and Microsoft, but definitely a player. And I think there must have been some short interest also in Broadcom. It hasn’t been… trading all that well. They come along with a blowout report. I think the CEO mentioned AI in the press conference. And up goes the stock carrying the Nasdaq with it. And you’ve also got Bitcoin holding on to $100,000. It’s kind of a risk-on indicator. And the Dow remains soft right now. There’s valuation concerns. We had a down day yesterday in the market. You know, on Wednesday, we have this huge update because we have a favorable CPI inflation report. And then yesterday, the market reacted to the unfavorable, just slightly unfavorable, PPI report. And we had a sell-off throughout the day in the market yesterday. The NASDAQ was down 132. It’s not gaining back that 132. It’s gaining back a percentage of that. The Dow was down 234 yesterday and it’s adding on a little bit. We continue to have a lot of toppy looking chart patterns. That is the main pattern in the market right now. I’ve been drawing a lot of tops. resistance levels that are forming in stocks you know maybe they’re a week two weeks four or five days but definitely a leveling off in the market here this past week with up days down days up days down days but uh A few stocks breaking out to the upside, but more stocks than not, 80% to 90% of the stocks are tracing out those number three top patterns, which I’ll be emphasizing a lot in the newsletter this week.
SPEAKER 06 :
And not a lot of volumes. not a lot of volume this week i was looking at the average volume and some of the uh some of the indices and and certainly has been a lot more volume in those few weeks uh after uh the election and uh than what we’ve uh you know it’s dissipating and my you know i don’t have 1200 charts to look at anymore 1300 i’m down to about 800 we’re getting back to a more normal level
SPEAKER 07 :
The biggest problem the market has right now are valuations. The forward P.E. of the S&P 500 is currently at 22.2, somewhere around there. The NASDAQ’s forward P.E. is 35.3. And the Dow is at 20.4. And I’ve been printing charts each week. I’ll do it again this week of where that sits. Those levels sit. You can look at a 10-year chart of these valuation levels we’re at. You can see that we’re at the upper band. where the market in the past when it’s hit this upper band evaluations you’ve had a pretty good correction so you know there’s no guarantees it’ll do it again this time but I’m a probabilities kind of guy and the numbers what are the chances of it you know your risk to reward ratio right now it is not very favorable for the investor So anyways, we had Adobe also send the market down yesterday, and today, look how one stock can impact the market. Today you’ve got Broadcom pretty much propping the market up on its shoulders as Broadcom results bring cheer. Okay, well, we begin around the world. The only world news today of note that concerns the stock market, UK, United Kingdom’s economy, shrank 0.1% in October. If you get another negative print on GDP in November, you have an official… recession in place two straight quarters of uh… of uh… you know of contraction with the gdp and they have a record trade deficit which we do also of three point seven billion over there in the u k so i continue to point to weakness weakness in the european markets uh they’re backing off they don’t look good i do have an inverse position against europe which is doing okay it’s up so far since i bought it that’s in the uh in the trading portfolio epv is the inverse uh etf on europe i think it has some room to go higher here We shall see. So that’s a way to hedge your portfolio. And don’t forget that Europe is going to face a tough environment, a very tough trading environment next year with a new regime coming to town and throwing the tariff word all around. Okay, so Broadcom. Here’s what they had to say. Broadcom soars as Wall Street sees the possibilities of custom AI revenue ramp. So, you know, look, NVIDIA and ChatGTP are not customized AI. It’s pretty much for the public. But maybe Broadcom is going to offer more customers. customized ai solutions for instance if you’re in the financial industry if you’re in the drug discovery industry uh if you’re in the uh you know whatever industry it is uh consumer discretionary retail etc it looks like they’ll be able to customize the ai and and go after that kind of business as it kind of spreads out to other areas of the market. There’s no question that that would happen at some point in time. And the chief executive, Hawk Tan, said the serviceable addressable market for custom AI accelerators, or XPUs, That’s a new term for you. XPUs will be in the range of $60 to $90 billion in 2027 alone. So this is a big market and they’re looking to get a foothold in that. I haven’t heard a lot of other companies that are in on this. I think Marvell would be another one. but being able to customize that AI more specific to your industry, okay? So anyways, Morgan Stanley Analyst ups his target price after the outlook was seen as a relief. Like I say, the stock has not been trading very well. It’s been trading okay, but it needed some kind of a catalyst. It looks like it has one. Their inline quarter and outlook is a relief versus fears of a worse scenario with the longer term AI commentary to add to longer term enthusiasm. They upped their target price by $53 a share. That’s pretty good. Fortunately, the stock is gaining most of that already.
SPEAKER 06 :
I was going to say, maybe it could mean they were behind the eight ball a little bit in terms of trying to catch back up.
SPEAKER 07 :
Well, it’s almost hit their target price already. Their target price was $180, then it raised it to $230, and it’s currently at $220. There you go. It’s up 21%. We’ll be right back. And welcome back here to the second quarter of today’s Best Stocks. Now, let’s just take a look at Broadcom’s valuation. Last time I looked, it met my valuation criteria. It did not meet my momentum criteria. Well, Broadcom was ranked number 230 yesterday out of 4,800 stocks. The stock is up 63.6%. It’s had a good year, not counting today’s big move. So, you know, I just didn’t really like the way Broadcom’s been behaving. We’ve been out of it for maybe six months, something like that. But, well, you can’t count these big tech stocks out.
SPEAKER 06 :
Yeah, I think we had a decent run, I believe. It was when we were tapering off some chip exposure. I think it was towards maybe the end of July or maybe going into the summertime. Yes, and their sales were up 51%. Wow, that’s a huge quarter.
SPEAKER 07 :
And their earnings were up 28%. No wonder the stock’s up 22.5%. 10 times normal volume and it’s a trillion dollar company just like that i’ve actually uh driven by they think they moved their headquarters they used to have a big facility uh by hollywood park racetrack uh when it was there now it’s uh it’s the ram stadium sofi stadium and now they’re headquartered up in uh palo alto but i mean originally they were singapore they were and they bought broadcom they were a vago technology they bought yeah broadcom to become an american company and so that’s kind of the history there but definitely a couple of their bonds too so yes we own a couple bonds of broadcom believe it or not So, you know, I mean, they’ve been a big winner over the years. What can I say? But they have the chip. The chip stocks themselves have been really soft. For the last, AMD looks horrible. We don’t own AMD. We’re out of AMD. We got out of AMD some time ago. And maybe it’s getting a bump today. But let’s just look at the other two big chip stocks I consider.
SPEAKER 06 :
I think AMD actually is down a tiny bit today.
SPEAKER 07 :
I know. That’s just a horrible chart on AMD. And in the meantime, NVIDIA, last time I looked, was up today a little bit. Not much. 21 cents. NVIDIA came to a screeching halt in early October and has been going sideways ever since. I currently have a support line drawn and I have a resistance line drawn. And right now it’s trading between those two lines for the last several months. Okay, Trump advisors said to explore consolidating or eliminating bank regulators. I don’t know that I would eliminate them. I was around in 2008 and 2009. I saw the crash of 2000, which was the worst one, 2001.
SPEAKER 06 :
They could use some regulation.
SPEAKER 07 :
They caused a lot of trouble for us in 2008 when Bank of America, they did a shotgun wedding there at Bank of America. You’re taking Merrill Lynch. Someone else got another one.
SPEAKER 06 :
I think Bank of America was accepting a lot at the time, right? Like Wachovia, wasn’t it? Wachovia was back then. They had a lot of those Charlotte banks. It was a tough time in Charlotte during that time.
SPEAKER 07 :
Keep an eye on those banks. You can ease up a little bit, but let’s keep an eye on those guys. uh now this is big news for tesla okay so the race and that’s been one of the stories this past week robo taxis big story because you had one of the major players cruise which is gm’s venture into it totally drop out and microsoft wrote off 800 million investment in cruise oh well and they didn’t have a stop loss i guess in there And so that leaves kind of down to three, right? Google, Tesla, and this Aurora Innovations, which bought that from Uber. Okay, and I have a story on Uber coming up here in a minute. Tesla is now running big tests in China, and they’re adding a new autonomous driving feature in China as their robo-taxi vision progresses. And a lot of people are saying that’s the next big catalyst for Tesla. And there’s one other one that dropped out, but they never really were in. Apple had a license in California for road, and they totally let that thing lapse. They don’t want any part of it.
SPEAKER 06 :
And I think they announced that almost a year ago or so, if not more, because the iCar dreams were dashed.
SPEAKER 07 :
Yes, okay, so Tesla’s hitting a new all-time high. Don’t cry for Elon. He’s become the richest man of all time, you know, by a numbers point of view. Tesla is up another $11 per share today to $4.28, $4.29 today on this news out of China. on Tesla’s advances that they’re making with the robo-taxi. In the meantime, with the last few months of the Biden administration, you’re down to one month and one week. I think a lot of people are counting the days. Elon Musk discloses that they’re demanding a settlement from him. This goes clear back… Ah, Neuralink, it goes back even further than that, where they’re demanding money from him to settle this dispute. No, and it was about him acquiring Twitter. Okay. And, uh, you know, I mean, he’s become arch enemy number two behind Donald Trump since he acquired Twitter and the SEC has been investigating whether Musk knowingly violated securities law when he delayed disclosing that he was accumulating Twitter in 2022. This allowed him to build a large stake at a lower price. Well, you know what? How much is his stake down? Way down. He paid $42 billion. It’s worth about $10 billion is what I’ve seen recently. So they still want him to settle up and pay up. I think Musk is going to play the delay game for five, six more weeks when a new SEC chairman is coming in and that Gary Gensler will be out the door. So anyways, there’s a lot going on over the next six weeks. Now, it’s also interesting that these big tech giant CEOs are warming up to the Trump. Well, they better, I guess. It’s in their best interest. Amazon and Meta are donating $1 million each to the Trump inauguration. Maybe they’ll have robots there. I don’t know. As big tech seeks better ties. And then I know that he’s meeting with Pichai from Google today. So all of these guys want a seat at the table. And, of course, Bezos is the owner of the Washington Post. who hasn’t been very friendly to Trump in the past. And Zuckerberg raised all that money the last four years ago. What was it, $450 million to help defeat Trump and help elect Biden four years ago. Now they’re having an about face. We’ll be right back with one of Goldman Sachs’ top picks for 2025. This might surprise you. 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 03 :
Because there’s something in the air We’ve got to get together sooner or later
SPEAKER 07 :
And welcome back here to the second half of today’s Best Stocks Now show. Well, one of the stocks in the news this past week is a top pick for 2025 by Goldman Sachs. I was really surprised to see this because the stock got whacked this past week. I think you can argue that Uber was a big major disruptor. Just ask any New York taxi cab driver in New York City. You don’t even see taxi cabs anymore hardly at all. You see Ubers everywhere, however. Uber is named a top pick for 2025 by Goldman Sachs. Which is surprising. The shot of confidence from the firm followed a 15% decline in Uber’s share price over the last six weeks. due in part to robotaxi developments. Well, they were part of that GM Cruise effort, and now that’s over. But the analyst at Goldman Sachs thinks Uber’s risk-to-reward balance is among the most attractive heading into 2025. From a stock selection standpoint, we see the most compelling risk-reward in companies that have lagged A robust market environment, he said. So anyways, you know, I had one follower, listener, email me and say that Uber was a big beneficiary this past year on the federal government moving the immigrants around. Now, I don’t know if that’s true, but I wouldn’t doubt it. Okay. Yes, they flew. We’ve been to airports where we’ve seen plane loads of immigrants being moved around and uh the country this past year and uh obviously they got to get to their destinations you know and uh i would not be surprised at all if if they weren’t uh using uber to uh well yeah they don’t they don’t have like we don’t have transportation right they didn’t didn’t drive didn’t drive across didn’t drive across the border right No, so anyways, there’s that. Now, the arguments against Uber, they have a lot of short-term debates going on. Pricing, inflation, it’s not cheap to get in an Uber, that’s for sure. You’ve got medium to long-term industry concerns over the impact of autonomous vehicles. I would think that would help Uber myself.
SPEAKER 06 :
Potentially help Uber, but hurt their driving base, obviously.
SPEAKER 07 :
So anyways, this is one of their top picks. And they have a target price of 96. Uber’s at 61 right now. So that’s significant. The chart, I will say this about the chart. I have not sold, that’s one of the stocks we own in the premier growth large cap portfolio. Because Uber is over 100 billion in market cap. It’s $128 billion. It’s sitting way down at $60 a share. It was $87 just two months ago. And, you know, I have a good valuation on it. What Uber lacks right now is momentum. In fact, it’s in danger of breaking its big support level here. It has a very good support level at $60. We’ll see if it holds. Okay, another theme that has not worked out, and I know Kathy Wood was a big investor in the gene editing. I remember a special on 60 Minutes when they had the guy from Hong Kong on, kind of the father of all of this, taking a gene out of your body, taking a cell out of your body. putting it in a test tube, using a computer to change the DNA sequences, and then put it back in the body. So far, that has not really worked out, okay? And a lot of money has been thrown at it. And one of the big players in that is editists. I mean, that’s what they do. They edit your DNA in your cells and then replant them in your body. Edited was a $99 stock in 2021. Now it’s $1.45. Ouch. That’s pretty much terminal, I would think. They’re going to cut 65%. Maybe they should buy Bitcoin with what they’ve got left. 65% of their workforce in a strategy shift. And so the gene editing has not really worked out. I mean, there was a lot of investment taking place in the gene editing companies. CRISPR was the big one. Let’s see how CRISPR is doing these days. CRSP, well, it’s hanging in there. It’s $43, but it’s hitting a new 52-week low. It was at one time $220. It’s down to $43. I know ARC Funds had a big investment, I think in Editus. So anyways, that’s one that you can kind of scratch off that didn’t, hasn’t worked yet uh needs a needs a big and here’s another one i remember when nicola which is the first name of nicola tesla right tesla that’s right nikolai tesla nicola came along the guy was real you know when i saw him being interviewed i go this guy’s a huckster i can see right through the guy Uh, he’s a promoter and a man that stock went way up. Nicola was supposed to, it was the one that ran on water. Uh, and he, uh, faked all of these, uh, you know, downhill, he rolled it downhill. Yeah. Stuff like that. Nikola split adjusted was $2,819 in 2020. And that was the year where you reached the extreme valuations in the market. And we’re back up in that territory. And you had all that COVID money splashing around. Nikola has gone from $2,819 to $1.49. The CEO that I smelled the rat on, I think he’s in prison. He’s serving time of being a huckster and a promoter. And this stock is probably terminal also, struggling to stay afloat. I remember I was in Phoenix a couple years ago and I was driving to a destination and I drove right by the Nikola plant there. And it was pretty sizable, pretty good office building and everything. But it looks to me like it’s terminal. And you’ve got to wonder about a few others. Fisker, you know, went under. You’ve got to wonder about the next one I think that’s in trouble is Lucid. Lucid’s got big backing from Amazon and Saudi Arabia. That’s probably keeping them afloat. But you can see, you know, we’ve seen some things go down. They go down and they ride them off. You just ride it off. Now Meta getting in, not only are they donating a hundred million to the Trump inauguration, they’re launching an AI model Motivo for humanoid agents. Leave it to Zuckerberg. He still wants us to enter into this metaverse. They will have mind reasoning programs for machine learning, these humanoid agents. And obviously he’s taking on not Nikolai, but Tesla, his surname, with the robots. And some people say that that’s one of the hottest things that Musk has going are the humanoid robots. Everybody’s going to need one at some point in time, he says. Can they detail your car? I don’t know. Can they cook dinner? Can they do the dishes? Can they vacuum? Can they do the wood floors? I don’t know what they can do, mow the lawns, but maybe we will need some going forward. But don’t count out Meta. And by the way, Meta hit a new all-time high yesterday, breaking out. It’s pulling back a little bit today, but it’s now at $1.57 billion, $1.57 billion, and they’re still growing by 20% to 25% per year. Meta is one of the chosen. Few. Many are cold, but few are chosen that end up in our portfolios. Meta is one. And I like, you know, I think this robot, humanoid thing, deliveries. You know, if you’re going to drone, I don’t know how you’re going to get all these deliveries, you know, and packages to your door. But I’m sure the robots maybe are in that. Costco reports earnings last night. It’s pretty amazing. That they just continue to come up with products that keeps their growth going, right? I mean, how long has Costco been around? They can’t expand their space at all. So now it comes down to innovations within the stores. And, you know, just think of all the things that they’ve added over the years. You know, fresh seafood, the butcher department, the alcohol, the liquors, and everything. I mean, it just goes on and on and on and on. Costco hitting a new all-time high today, $439 billion. Almost a new all-time high, just $9 away from it. We’ll be right back.
SPEAKER 02 :
Do what you want to do.
SPEAKER 07 :
And welcome back to the final segment of today’s Best Stocks Now show. Well, as Friday the 13th would have it, the market giving up most of its gains here on this Friday. That’s kind of typical. Seems like the traders kind of like to go into the weekend with a neutral position and clear the books, you know, on Fridays. Freaky Fridays, I call them. One stock I want to bring up here. Here’s your terminology here, Barry. It is called, let’s see here. I just had it. Highly enriched. Where did that go? Anyways, it’s, oh, there it is. High assay. low enriched uranium well that’s what they’ve been doing in iran okay enriching uranium and it’s a very slow process and right now there’s a race on here in the u.s for a potential wave of next generation small modular reactors and they’re going to need the enriched uranium as fuel for these things. The uranium fuel currently is enriched up to 5%, but there’s some new techniques coming along, including one by ASP Isotopes, ASPI, which is TerraPower-backed, and TerraPower is backed by Bill Gates, they want to make a new HALAU nuclear fuel, which can be made a lot faster. Well, I bet Iran would love to get their hands on that technology. But right now, it’s ASP Isotopes, ASPI, that says they can make a much better fuel in a lot less time. Well, it’s in the news today because there’s a short report out there on the stock. Fuzzy something, fuzzy navel or something, fuzzy panda, that’s it, fuzzy panda. And the company is refuting the report and the stock is up 10% today. It went way up to $9.33, okay, after the news that they were in cahoots, kind of connected to Gates, and that they had, this was back during nuclear fever, which has dissipated a little, but it hasn’t gone away. I think this is still a very viable long-term investment. In the sudden move, and especially with all these tech guys coming into the Trump administration, I’ve got to believe that they’re going to be pro-nuclear because they’re pro-AI. AI needs lots of power. The sun and wind aren’t going to do it. Nuclear is by far the next best solution for this.
SPEAKER 06 :
Yeah, sounds like a logical conclusion to me, right? You’re connecting the dots.
SPEAKER 07 :
So this is one of the stocks we own. Now, this is why we call it the incubator portfolio, okay? This is like, okay, we own this stock, but realizing that this is way out there on the horizon, but it also allows opportunity for trading, okay? I had a big gain in this thing. I decided to hang onto it. It had a really bad day about two weeks ago. I got in it at $5.74 per share, and it went clear up to $9.33. In retrospect, I should have sold it. I had a 70% profit there in about three or four weeks. And I decided, yeah, you know, I really like this burgeoning nuclear industry and didn’t sell it. Woulda, coulda, shoulda. And now it’s back to $4.82 per share. But I think there’s something to it, okay? And Fuzzy Panda doesn’t agree with me. He’s trying to knock the shares down. So anyways, the tug of war goes on between the longs and the shorts. ASPI is up 10.1% today.
SPEAKER 06 :
That’s what makes the market, right?
SPEAKER 07 :
Well, you know, if you’re going to delve into trading stock, You’re not going to trade Pachter and Gamble and Kimberly-Clark. You have to have volatile stocks. You have to have volatility, stocks that move, high beta types of stocks. I mean, that’s about as high beta as it gets, ASPI. They don’t know they’re going to build the plant. It looks like the plant may be in South Africa where they do this enrichment process. I’ve got to believe that you’d have to keep that formula top secret because you’ve got bad actors out there going at enriching uranium, break that pace, which isn’t very fast, trying to come up with a devious use of nuclear weapons. So ASPI, one of the players in that whole nuclear space right now. Okay, now I just want to take a look here real quickly at, let’s take a look at the S&P 500. I think we’re going to end up probably having kind of another soft day in the market. The bias is definitely negative right now, and I would blame valuations. You definitely want to read this week’s newsletter as we update the valuations. We had some more earnings reports this week. But, you know, those valuation measures like price-to-earnings ratio, price-to-forward earnings, price-to-cash flow, price-to-book, price-to-sales, those are currently very important. They always have been important. Those are numbers that have guided the market for, you know, ever since the beginning of the market. And yes, we’re in a much faster growth period right now with tech innovation happening much quicker. But you still can’t deviate too much from those long-term averages as it relates to price to, especially price to earnings. And I’ll be updating that just to show you where we’re at currently. That’s why it’s a stock picker’s market. I totally agree with that. I mean, you go out there and you buy the S&P 500, you’re paying 23 times next year’s earnings for it. You go out there and buy QQQ and the NASDAQ, you’re paying 35 times. uh… next year’s estimates so i’m not a fan right now of etf’s that have a broad exposure to very expensive indexes right now okay so if we go to the s&p one stock that’s doing well and i read that we’re getting one in charleston downtown charleston we’re getting a restoration hardware I went to one in Minneapolis, and it had the restaurant on top and everything. It was pretty cool, actually. Like three stories of really nice furniture and then a really upscale restaurant on the top. I think they have 42 of those around the country. Let me take a look there.
SPEAKER 1 :
42.
SPEAKER 07 :
How about that? And restoration is up 14% today. It’s the biggest winner in the S&P 500. Okay, the offer is still out there for a trade with Bill or watch Bill masterclass on buying and selling on a daily basis for four weeks. Free trial. Go to GundersenCapital.com to set up an appointment with us. 855-611-BEST. 855-611-BEST. Have a great day, everybody.
SPEAKER 05 :
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.
