Dive into an educational segment with Bill Gundersen, president of Gunderson Capital Management, where he explores the software sector’s current turmoil and discusses Wedbush’s stock picks amidst the chaos. Uncover strategies on how to navigate through the talks of artificial intelligence threatening traditional software models, and learn about the concept of passive versus active investing. This episode equips listeners with the tools to understand vital economic indicators and make informed investment decisions with a touch of technical analysis.
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 Thursday, February the 5th edition of the Best Docs Now show with professional money manager Bill Gunderson, president of Gunderson Capital Management. And I’m here with Barry Kite. our chartered financial analyst, and it looks like we have another red day in the market so far. But that thing can turn on a dime, can’t it? It really does. It was roaring for the first three or four weeks of January. I said, you know, this is getting ahead of itself here. This doesn’t look good. getting to be a parabolic chart on a lot of stocks, especially silver and gold. And, you know, they don’t last forever. Now we’re seeing a little bit of a correction in profit-taking. The Dow is down 401 right now after hitting a new all-time high last week. And it’s at 49,099. The NASDAQ is where the real issue is, and that’s where the most inflated stocks were. So it just makes sense. It’s down 337 to 22,562. And the S&P is still close to 7,000. It is down 1% today, however, 6,811. We are still in the throes of earnings season. One of the big issues from my perspective was silver. And, of course, silver is down 11.5%. But I think even bigger than that, there’s a scare going on in the crypto world I don’t know that Bitcoin is going to hold $70,000, but it’s down again today.
SPEAKER 04 :
It’s at $68,500 at the moment, so below $70K, which I couldn’t tell you the last time it’s been below $70K.
SPEAKER 03 :
So welcome to today’s Best Stocks Now show. Never a dull moment in a DM. Never a dull moment in the markets. It’s been mostly good during my career. You know, the Dow was 4,000 when I got in. Now it’s 49,000 when I got into this industry. So I have nothing to complain about. But along the way, I’ve certainly learned a lot about the cycles. I’ve learned you cannot be a perma bear, that’s for sure. They’ve gotten their head handed to them on a platter if you’ve been a perma bear and negative on the markets over the last 25 years. And you cannot be a perma bull either. You know, the market has cycles and generally there’s two words that drive the markets, greed and fear. It’s greed and fear, and right now we’re going through a bit of a fear cycle stemming from a few things. Number one, when you get that… What was the word? Irrational exuberance like we got in January on the memory stocks, on the AI stocks, on silver, on gold. That’s irrational exuberance. So that’s the greed cycle. And then you go into a cycle of where’s the top? And sometimes the top can come a lot quicker than you ever would have realized. I said the top in silver was last Thursday, Wednesday or Thursday. I sent out an alert. I said, look, we don’t own any silver stocks, but I’ve had people that have transferred silver stocks to me. And I’m just saying that it’s time to take your profit. That was the day before silver went down. That was a pretty good call. And gold is getting carried with it. I have a lot more faith in gold than I do in silver. Gold is a lot more stable, less volatile than silver. Silver has a tendency to be manipulated from time to time. And I don’t mean it’s anything dark down underneath the surface. It trades more thinly. I had a guy, we have a listener, Barry, in Independence, Ohio. And he knows that I’m a model train fan. I do that with my grandkids. And he says, we have every year the big Bertha comes through here, and one of my kids or grandkids or whatever puts a penny on the tracks and a nickel on the tracks, six cents. And after that thing runs it over. He sent me a flattened piece of nickel and a penny saying, And I said, this looks like the software sector right now. You know, it’s been run over by a truck. Yeah. And yet, okay, now let me give you another example. Well, I’ll give you an example of a permabull.
SPEAKER 04 :
In Microsoft, I just saw it today, down 16% year-to-date. I mean, you’ve talked about the software stocks.
SPEAKER 03 :
We got totally out of software, all right? And I see, you know, Wedbush is out today with their call. These are the five software stocks you’ve got to own. So they tend to be more of a permabull than me. You know, I do the when something Palantir was our top pick last year, we made a lot of money in Palantir. And I saw a time from looking at charts every day. That’s what I owe that to and saying, I don’t like the way it’s behaving here. But more importantly, I didn’t like the neighborhood. I didn’t like the neighborhood. It’s just a matter of time before that last tomato plant is going to get the fungus and die, and you’re going to pull it up and pluck it up from the ground and throw it into the trash pile. And sure enough, that fungus spread all throughout the software sector. I don’t think the reports have been that bad. I think the fear is that AI is crushing everything. And, of course, the five that Wedbush likes are Salesforce, CrowdStrike, Palantir. There’s two others. I’ll get to that article in a little bit. But I can’t sit through that and watch those things get pounded like they did. When they start looking toppy in the charts, and, you know, I try to educate here during the show also. I think that’s very important. I put out an article today. We have a brand-new article. Don’t tell them what it is, Barry. They’ve got to look it up. I’m sorry. You’ve got to go to Seeking Alpha. You have to follow Bill Gunderson. But I promised that I would do my best to get two articles per week out. That’s 100 articles. That’s a big commitment. but i have a little help now helping me along i still it’s my product when it goes out there however and uh we have a new article out there i would say if anything uh read it it’s my way of analyzing a stock and it’s a very simple methodology that involves looking at the track record looking at the valuation, looking at the chart, and saying, I got 20 openings on my roster, and is this going to be one of them, or are there better choices out there, or is there nothing out there right now that looks good? Anything in between, too, right? You can be fully invested. You can be half invested. That’s another thing. I do not believe in having my hands tied by, oh, I’ve got to remain 90% invested all the time because that’s what the mutual fund charter says. I like being unconstrained and being able to go where I need to go. We have an inverse position on the NASDAQ right now. If there would have been an inverse position on the software sector, and I see there’s a big article on Seeking Alpha today about IGV. I think Seeking Alpha follows us, Barry, because… Usually we’re way ahead of them, and then they’re writing today and showing a chart of IGV, which is the exact ETF that I’ve been picking on. I went looking for an inverse ETF, and the only thing I could find, there’s one on Palantir, and I think there’s one on CrowdStrike. There’s one on Oracle, and I think there’s one on Microsoft. So you can pick on an individual stock within the software sector. but there isn’t one that specifically would inverse IGV, for instance. So we went inverse Kathy Woods, who’s not in a good position right now at all, with crypto. She keeps loading up on crypto, and it just keeps going down. So we have a SARC. We own SARC. And we have an inverse position on the NASDAQ as a hedge, PSQ. And if I want, I’m in a position to where I can raise my inverse position. I can raise my cash level, which we did recently. We backed down. We sold our top pick, one of our two top picks for this year. It went up so much in the first four weeks of January. I said, you know what? Thank you. I’m gone. Get back into it at some point in time. The memory shortage has not abated. It’s still out there. But I feel like this stock is toppy. And, you know, that’s another big thing in technical analysis. There’s only four stages a stock can be in. It’s going sideways, neutral. It’s going up, positive. It’s flattening out, leveling off, warning sign. Or it’s going down in a downtrend, number four, and that’s where most your software stocks have been for the last several weeks. Which is the best trend to be in and which is the best trend to buy? And when is it time to sell? Looking at the chart tells you where it’s at. One, two, three, four. It’s easy as ABC, one, two, three, but add a four on. We’ll be right back. Welcome back here to the second quarter of today’s Best Stocks Now show. Just one other thing that comes up during a time like this, Barry, is passive investing versus active investing. I lean, obviously, to the more active side. You know, when things start to change, when things start to zig, sometimes you’ve got to zag a little bit. But I try not to be overly active. Also, there’s a balance there, I find. And personally, I cannot sit and be passive and do nothing. when the whole world or the market is changing around me. And that’s why I spend probably four hours a day, three to four hours a day, just looking at charts and my holdings and stocks that are the strongest stocks in the market at the current time from a momentum point of view. looking at charts for breakouts, breakdowns, changes, changes in the weather.
SPEAKER 04 :
And like you say, you don’t like looking at bad stocks.
SPEAKER 03 :
No.
SPEAKER 04 :
You know, whenever, depending on, you know, when the wind changes in the markets, of course, you know, some sectors that were in favor become out of favor sometimes.
SPEAKER 03 :
Yeah, so we’re going to look at that right now. First, a couple of big economic things. Let’s get that out of the way. ECB holds rates steady. Okay, no big surprise there. But they are much lower than we are in the U.S., and that’s why European stocks have done better. because they have a more favorable Fed central bank than we do right now. Initial jobless claims did come in higher than expected for the first time in quite a while, 231,000. But I think the one that has the market a little bit nervous, chewing their fingernails here today, you’ve got the Dow down 500 right now. How about the job cuts thing? The challengers. Yeah, tell us about that.
SPEAKER 04 :
Yeah, I mean, it came in as it was the weakest report since 2009. So anytime you throw something back to 2009, that creates a certain amount of panic right there, right? And so the biggest issue, like I said, is the fact that you’ve got… I think what UPS in January said they’re going to let go of 30,000 jobs. I think you had Amazon also said they were going to get rid of, I don’t know, maybe around 20. So they accounted for half of that job loss challenger survey. And the interesting caveat to that survey is essentially it’s announced job cuts. It doesn’t mean that they’re ever actually going to cut that many jobs, by the way. In other words, in their corporate planning for the year, they plan on, UPS plans on getting rid of 30,000 jobs. If they actually follow through with that, who knows, but at least these are ones that are announced.
SPEAKER 03 :
Sometimes when they announce it, it’ll get the guys working a lot harder. Yes. For the next two weeks, they’re just like… Productivity. Yeah, productivity kicks up. You see that UPS thing just going 90 miles an hour. But anyways, let’s talk about this software sector right now. This is really the topic that is probably at the center of the sell-off in the NASDAQ right now. And look, we have a lot of listeners in the Silicon Valley. We had a standing room only… workshop there and we had four days of appointments it was crazy and we have a lot of boots moccasins slippers whatever the case may be high heels on the ground in silicon valley and if you want to weigh in and send me an email what you think about all of this bill at gundersoncapital.com Haven’t investors been through this before? Okay, this comes from Seeking Alpha. And even recently, market headlines over the past few days have been flashing warning signs about the tech sector with the NASDAQ dropping 4% over the last week. And while that is a significant loss, it may not be all that much, given that the NASDAQ has experienced three similar falls of equal or greater magnitude in the past three months. So it is the nature of the beast. I mean, it’s part of being invested, especially in the faster growth areas of the market. To understand the specific spheres at play, it is necessary to zoom in on the various subsectors in the tech world. Now they’re talking my language. Because the tech world is a big world. There’s memory, there’s software, there’s semiconductors, there’s hardware, blah, blah, blah. But the specific sector that has been in trouble is software as a service, which is known as SAAS. And I have followed those stocks for years, decades. It has been slammed since the beginning of the year and even more so over the past two weeks, which I’ve been bringing to your attention for the last three or four weeks. And now Seeking Alpha is picking up on it finally. There are growing fears about what artificial intelligence will mean for this group of stocks. I think the perfect example of a software as a service would be Salesforce. perfect example it’s not cheap to uh subscribe to salesforce salesforce puts software to work for you in managing your lead flow your prospect flow your sales efforts etc it’s a perfect example of a software as a service stock okay Now, there are growing fears about what artificial intelligence will mean for this group of stocks. Now, originally, Barry, we thought the thinking was that AI would enhance and make Salesforce even more powerful, which I think is true. But now there is a thought out there that it could replace Salesforce, as you mentioned yesterday, with the data providers. Does AI hurt Salesforce? Are they shooting themselves in the foot by adopting AI? As an example of how this AI can cannibalize the work of software service providers. Now listen to this. This is a specific example. Anthropic this week released Claude Cowork, which automates professional workflows in the legal and financial sectors, leading to plunges in shares like LegalZoom and TurboTax and QuickBooks provider Intuit. It also helps cement the fear narrative that was previously taking hold that AI may no longer be an enhancer of software, but a replacement for it. Okay, so that’s why you’re seeing this bloodbath.
SPEAKER 04 :
And we’ve said, we’ve laid this out, you know, since AI, you know, kind of came upon the narrative. I mean, and we talked about, you know, the picks and shovels being, you know, the chips having the least amount of execution risk. And then the biggest amount, as you get further from that infrastructure, right, you get more and more execution risk. And disruption potentially and so that’s where you know the software sector currently finds itself it was you know kind of benefiting a little bit from ai in terms of you know more productive coding that type of thing well then of course now with quad it’s hey it may be
SPEAKER 03 :
replace some so it’s this narrative that’s going to continue to kind of go along as AI continues to develop yes and when we come back I want to talk about five big name software stocks and how they’re behaving right now and when we sold them and who’s saying these are the five you need to own right now there’s a difference of opinion and a difference of strategies here we’ll be right back music This is Bill Gunderson. Thank you for tuning in to today’s Best Stocks Now, Best Inverse Funds Now show. I put several hours of research in during the wee hours of the morning each day to bring you the very best cutting-edge stories that I can. To get two free weeks of my newsletter, go to GundersonCapital.com. To talk to us about our fee-based only money management services, call us at 855-611-BEST. Now, back to the second half of the show. And welcome back here to the second half of today’s Best Docs Now show where capital S, little a, little a, capital S are in the headlines here recently. That’s software as a service. It’s a big, big sector. Includes a lot of stocks in that sector. And it’s a very important sector in the NASDAQ. I’m going to go through these five stocks here. Here’s Wedbush. I very much like Wedbush’s work. They do great work on keeping us on top of some of the great tech stocks of all time. And Dan Ives is probably a legend in the business. And he has his own ETF out there.
SPEAKER 04 :
He’s at least a legend in the fashion world with those bright suits that he likes to wear.
SPEAKER 03 :
I haven’t noticed that.
SPEAKER 04 :
I’ve never met him. It’s pretty wild. I see him on some of the financial stations sometimes. The joke is he’s always wearing something pretty bright.
SPEAKER 03 :
Well, you know, it pays to advertise and stand out and be a little bit different. You know it’s him, for sure. Okay, so he’s got his ETF, I-V-E-S. Wedbush’s five stocks to own amid software Armageddon are as follows, and we’ve owned them all. We don’t currently own them, so there’s a difference between the way we look at life, I guess, the way we dress. I’m pretty conservative, gray charcoal suit, nice clean white shirt, nice tie, you know, that’s me. especially on Sundays. But Wedbush likes Microsoft. I’ll tell you when we sold it. They like Palantir. I’ll tell you when we sold it. CrowdStrike. We sold that one. Snowflake, which we had plenty of about a week ago here in the Charleston area. I woke up to three to four inches of snow on the ground. And Salesforce. We’ve owned all five of them. All right, and, of course, his Ives ETF has gone from 34 to 29. Four divided by 34 is about one-eighth. So it’s down about 12% over the last seven or eight days, 12%, okay? Because they’re obviously really focused. Tech-heavy. Yeah, and the high-tech-heavy. Okay, now let’s take a look first at Palantir. And look, is my system right? Is their system right? Well, Palantir’s been a big winner over the years. You go back to 2020, you go back to 2022, in fact, it was a $5 stock. It was kind of controversial, murky. Kind of a shadowy kind of a company, but huge, huge potential. It goes clear from 5 to 207. Do you hold on? Do you continue to hold it? Well, we let it go to 200. We didn’t own it from five, but we had more than a double in it. I do know that because we picked it as our top pick.
SPEAKER 04 :
I think it was in what? Ultra Growth, if I’m not mistaken.
SPEAKER 03 :
And in the Premier Growth portfolio.
SPEAKER 04 :
Yeah, eventually made it there when it got bigger.
SPEAKER 03 :
And it is a $307 billion company. Okay, so it tops out, goes into that three pattern. the momentum starts to come out of it, and the neighborhood starts to be disrupted by selling. For sale signs going up, all up and down the SAAS block. And I put in a line in the sand. That’s what I do as a technical, as that’s the third leg of my strategy, is number one, I like performance. I like valuation. But when the valuation gets rich, and the performance starts to fade, two of the legs of the stool are starting to crumble, and I’m starting to worry about falling off the stool. And that third leg of the stool is technical analysis, and that’s where that floor is. That’s where that bottom is, and it started to violate it. We sold it at $171.29. After it got as high as 207, and we locked in, I know it was over 100% profit, and it was not a long-term, I don’t think. I think it was a short-term profit. So where is it today? Since it broke support and we sold it at $171, it’s at $130 today. It’s gone down another $41 per share. And that’s not small change. That’s another 20% that it’s gone down since then. I was out taking out the garbage this morning. That’s my main job at home, my home office and my studio I have at home. And my neighbor, he was taken out to garbage at the same time. He’s a retired Air Force colonel from the Citadel. He was in the Army. We have great neighbors in our neighborhood here. And he said, hey, he knows what I do for a living. His son is in the business, in fact. He said, what’s going on with the market? And I said, well, we’ve got a big problem in the software sector right now. We got out of it. He said, oh, really? He says, I still own Palantir. And I said, well, I’m just going to tell you, I sold it three months ago. Let’s see, we sold it 171. Let me see when that was. We sold it in November, mid-November. And now it’s down another 40 points. Okay, now, so that’s my strategy. And I’ll look to get back in it at some point in time. But right now it’s in a number four falling knife downtrend. You don’t want to touch a number four fall. It’s anybody’s guess as to where it finally lands. And, you know, they reported earnings. Their sales were up 70%. Their earnings were up 79%. Everything looks good, but the neighborhood looks bad. And so we’re out of the stock. I mean, that’s my strategy. Wedbush would ride through it, okay? It’s up to you. Now, let’s take the second example here. They like Microsoft. We own Microsoft in our value portfolio for the longest time. Eventually, it started to weaken about the same time, mid-November, and I sold it at $479 per share and washed my hands of the stock. I didn’t like the way it was behaving. Now it’s $403 per share. It’s down another $73 per share. which isn’t peanuts, that’s 15%, 16%. From where we sold it, you’d have to sit through this. Yes, I think it will be a buy again at some point. That’s the other side of this coin, whereas Wedbush would ride through it. I think even a more stark example here, Snowflake, we sold that at 208 for a loss. Let’s be fair and balanced here. We sold Snowflake for maybe a 15%, 16% loss, which is another… One of my rules is, if at all possible, don’t write a stock into the ground. Cut your loss, move on, admit you were wrong. Now, sometimes things get caught up in real fast boom. Before you know it, it’s down 45%, like the rarer stocks or something. But Snowflake, we sold at 208. Now it’s 161. That’s $46 lower than… Then where we sold it, I’m happy to do things. It helps me sleep at night. I think the client’s like having some kind of a defense. You have to have a defense. You can’t be all offense all the time. Okay, the fourth one is CrowdStrike. We sold CrowdStrike a long time ago. And it continues to do about the same thing as the other three. And then the fifth one they like, oh, we sold Snowflake a lot. No. salesforce a long time ago and it’s a member of the dow jones industrial average and we’ve had no interest in getting back into salesforce whatsoever that’s CRM anybody who works for a company that has a big sales effort CRM is customer relationship manager CRM We’ve used a lot of CRMs over the years. I started out with Goldmine back in the early 2000s. I love Goldmine to this day. I still think it’s better than most of the CRMs out there. Today we use Redtail just to keep track of everybody. We’ve looked into Salesforce. It’s very expensive. But that stock continues to break down, and it’s in a number four downtrend. What do I do with number four downtrends? I avoid at all costs. So that’s the way we do things. It’s a lot different from what others. It’s more time-consuming, I can tell you that. It’s more labor-intensive. But personally, I just don’t like being a passive person. I’m passionate, but not passive. And just watching something crumble and break down, that doesn’t make sense to me. But that’s my own philosophy on the markets after being in them for the last 25 years. And I’m tainted, yes, because I saw the year 2000. I was in there when I saw things go down 80%, 85%, even going to zero. And to just sit there and watch and do nothing along the way, which most of us did, does not seem to be very good. And today I watched Kathy Wood do that. with much higherfalutin stocks than I would ever touch, and it can be deadly. We’ll be right back.
SPEAKER 07 :
On a winter’s day.
SPEAKER 06 :
You’ve got to go where you want to go. Do what you want to do. It is whoever you want to be.
SPEAKER 1 :
You’ve got to go where you want to go. Do what you want to do.
SPEAKER 03 :
And welcome back here to the final segment of today’s Best Stocks Now show. Now, I want to go back to the 1, 2, 3, 4 theory on the market. It’s something that, you know, I read a book, I read several books, many books early on in my days, in my career on technical analysis, and I’m sure you have too, and there’s Barry, some very well-known technical analysis books out there. But the one that resonated most was me with Stan Weinstein. I did meet him at one of the money shows. I used to go to the money shows in Vegas. I met him, I think, at the Bay Area San Francisco money show. And he had his own system. He was called the professional tape reader. He had a newsletter and everything. But it just resonated with me. One, two, three, four. You know, keep it simple. Yeah, which pattern, right. I’m also a big fan of keeping it simple. So I see there’s an article on Seeking Alpha today. Let me read the headline. Kathy Woods, ARK Invest, buys the dip in AMD shares. I’ve noticed two things about her recently. She’s not buying BitFufu these days or TestTube DNA, Biotech this or Crypto that. Lately, she bought Google, which is way down today after she bought it. And she’s buying AMD, so I think she’s maybe stepping up to a little bit bigger stocks. But AMD’s in a number four downtrend after yesterday. I agree. Is AMD done as a company? No. No, not by any stretch of the imagination. They’re the second best chip company in the world today behind NVIDIA. And AMD’s quarter, their sales were up 34%. Their earnings were up 40%. That is phenomenal numbers for a 300 company. billion dollar company a third of a trillion but it wasn’t good enough for wall street and the stock got slammed yesterday was down 17 we own it There’s nothing you can do. It was hitting an all-time high just a week ago. But here’s what I would say. The earnings for next year right now are at $10.62, and the stock’s trading at $1.93. That gives it a forward P.E. ratio right now of 18, 19. That’s pretty cheap. For AMD, very cheap. That’s the cheapest I’ve seen it. It’s under 20 as the forward PE ratio. So I definitely have no interest in selling my AMD. Would I buy more at this level? No, I would wait till the number four downtrend abates. and starts to go sideways that’s how we handled the nasdaq in january of twenty twenty three remember when i put out an article the nasdaq has bottomed and it’s time to get in that was after the fed went on the rampage uh… you know behind the curve jerome powell after his draconian rate hikes all throughout twenty twenty two smashed the uh… the long-term stocks smashed the tech stocks smashed the teledocs of the world It finally started to put in the bottom as that rate hiking cycle was starting to abate, and the NASDAQ finally came in for a landing. It no longer was descending at a rapid rate, making an emergency landing. It finally leveled off and came in for a nice descent, landed on the runway, went sideways for quite a while, and it looked to me like it was getting ready for another takeoff. Okay, that’s just, there’s your one, two, three, four. AMD is right now in a number four. I like her thinking on this, of stepping into it at this much lower PE ratio, but I don’t like the chart right now. And I swear, Barry, if she could hire a chart watcher, Just to help her there. Maybe, Barry, you’ll leave me and go down there and help Kathy Wood. Maybe you’ve learned enough from me. Right. But you have to begin with a good stock, okay? And there’s another problem I have with her. I have a hard time with BitFarms and Circle Internet. and bullish and all these crypto stocks that she’s buying. I don’t think there is a good pattern for those because the underlying fundamentals don’t meet my criteria.
SPEAKER 04 :
That’s where we differ, her and I. Well, and that’s how you’re blending fundamental analysis with technical analysis, and you’ve got to meet both criteria to make it.
SPEAKER 03 :
Now, Google looks like it’s putting in a quick bottom here. And there’s buying coming into this sell-off. They actually had a really strong report, by the way. Well, yeah, earnings were up 18%, 25%, and sales were up 18%. They’ve got the lead in AI with their Gemini 3. And they’re selling AI chips to Meta. They’re buying billions of dollars’ worth of their chips. So it’s a little bit of a sell-off. That’s just par for the course. It hit a new all-time high two days ago. Did Alphabet. But, you know, like on her AMD buy, I like her thinking there. Good pick. But I don’t know about the timing. I think I’d let it settle. And I’d let it build the bottom and get some strength and confidence back into it. And you could say the same thing for Bitcoin. It looked like it was starting to level off a couple weeks ago. Now, I have no interest in Bitcoin. There are no fundamentals that will support that for me. But if you’re a technical trader, you would wait for Bitcoin to level off, which it’s not doing at all. It’s in a number four absolute free fall of a downtrend.
SPEAKER 05 :
Yeah, down 7.6% today. It’s under 67,500 at the moment.
SPEAKER 03 :
We call that a falling knife. And if your wife tosses a butcher knife from the balcony down to you below, says, here, catch. that’s where that term comes from it’s probably not a good idea to try to catch a falling knife you’re going to get a cut or bludgeoned or something like that let the knife land on the ground let it sit there for a minute to make sure it’s not going to jump up and bite you and then pick it up okay so look this was more of an educational round on the show today which is very important and i’m just teaching you my philosophy after twenty five years of experience whether i’m right and they’re wrong i’ll leave that up to you to decide i just tried to apply a lot of common sense a lot of hard work and a lot of observation and staying vigilant at all times. That’s pretty much what drives me, and that’s why I’m so excited to get up every morning and go to work, despite whatever the conditions out there might be in the markets. It’s a challenge that I enjoy. Okay, well, we’re out of time. Houston is filling up. The date is coming up very quickly, a couple weeks. We sent out a blurb on the Phoenix appearance. That’s just a one-night stand there in Phoenix at Sun City West. And a brand-new article. It went live this morning on Seeking Alpha. Make sure you check that. There’s a lesson in that article. To get four weeks of the newsletter, 855-611-BEST. To set up an appointment with us, GundersonCapital.com. Have a great day, everybody.
