Marty Parlato: Factually Ranting on Investing Now

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[Music]

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foreign

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with annuities where every single week I

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welcome a celebrity guest expert that

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can help you maximize chapter two of

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your life listen learn laugh and love

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every minute of the most unique

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Financial podcast on the planet let's

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get to it

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[Music]

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welcome to fun with annuities I am your

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host and the annuity man America's

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annuity agent licensed in all 50 states

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so happy that my guest has rejoined me

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again the infamous Martin Marty parlato

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and you can find him at

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lighthouseretirement.com that's all one

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word but if you've heard him before boys

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strap in because this is going to be a

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fun one I'm dying to hear what he has to

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say about all the craziness going on in

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the world Marty welcome back to fun with

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annuities

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thanks man welcome back to Florida

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hope you enjoying Las Vegas Vegas is

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good you know I run in between Vegas and

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um

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in Florida but as you know I don't drink

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smoke gamble or chase women so that kind

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of um married 35 years so that kind of

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eliminates most of Vegas but except for

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the food which I love the food

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sounds like you're a candidate for a

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cruise

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a land Cruise albeit there you go well

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you look good I'm very interested just

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to hear your take on things so I'm just

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going to let you go and fill in the

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people on at the time of this taping you

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know it's we're about a week out from

1:42
the time it goes live

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tell us what you're thinking about the

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markets politics life Global economics

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your friends at BlackRock go

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you know we had when we when we

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originally scheduled this conversation

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you'd mentioned you wanted to talk about

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the banking crisis yep and as we sit

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here today we're in the middle of our

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our annual will or will congress not

2:09
default on our debt conversation which I

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got to be honest with you I'm so sick of

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hearing it I I don't even think about it

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anymore right I I do want to go back and

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I'll deal with the banking crisis the

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one where we've got this this morning is

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is First Republic

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you know sitting there you know I I

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really really really really really

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really

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want to buy a bunch of that stock just

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to see if somebody steps in and bails

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them out the government says they're not

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but who the hell who the hell can trust

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the government anything they say is a

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lie but

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we did a show on my on my show

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Lighthouse retirement hour and get it at

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the Apple Store and stop for a second

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Marty people need to go to

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lighthouseretirement.com and listen to

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Marty's replay of His Radio Show which

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is should be National it's regional

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obviously it's Global on the internet

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but the point is it's one of the best

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and I've told him this before this isn't

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new to him it's one of the best

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financial shows on the planet and in a

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perfect world he is sitting in Jim

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Cramer's seat go keep going and you're

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right I don't even mean to be humble or

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attempt to be humble you're right I

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agree with you 100

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we absolutely nailed the Tucker Carlson

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firing I said last week they should have

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in proper order fired Hannity fired

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Ingraham

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and I really like Tucker but he was

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caught with his pants down lying and

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probably they all needed to go now they

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have a question of what are they going

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to do so going back to svb bank

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what we said on my program is that it's

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a question of woke so you got to go back

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and look at Mary Daley so who is Mary

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daily she gets to vote next week on

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whether we have higher interest rates

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potentially more inflation potentially

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break the economy potentially crush the

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economy

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she's the singular sole responsible

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person for the default of the svb bank

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because as Federal Reserve president for

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San Francisco it's her job

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to manage

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that bank

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and then periodically she gets to go on

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what we call sabbatical and she gets to

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go vote and she gets to go to you know

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to to to to to Wyoming and everything

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and go on vacation and meet with the fed

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and you know hobnob with the Hoy polloi

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but she didn't do job once so if you

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know who Mary Daley is you'll understand

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what's wrong with woke some woke

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socialist Democrat appoints her to the

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San Francisco Federal Reserve and now

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all of a sudden her total incompetence

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is showing and she broke the bank she

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raised the interest rates that caused

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those bonds inside the bank to be in

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default she failed to supervise the bank

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and and and and and the entire cabinet

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the entire cabinet of Joe Biden and this

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doesn't spare the Republicans any

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criticism because Donald Trump's cabinet

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was equally as bad maybe more horrendous

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you are now filling these cabinet

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positions with with woke personalities

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that are entirely incompetent and then

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you go oh no well there's a banking

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crisis there's a banking crisis because

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nobody's paying attention to the banking

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system I think what drives me crazy you

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know forget anything about the personal

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how they look what they do I don't care

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I don't care love everybody it's it's

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the qualifications they're not qualified

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to do these jobs and they have power to

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just to destroy by incompetence so all

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of you know all of who they are you know

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is irrelevant but I do think that

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unfortunately those types of things are

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playing into

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who's being placed

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I I gotta I gotta I got an email from a

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client yesterday he says mike why are

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you such a chi-com lover I said Chris

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I'm not a chai-com lover I just hate

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incompetence

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I just prefer the way that President XI

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runs China the way that he runs uh

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Russia the way that he controls I prefer

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a strong a personality competent person

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as leadership and I think that the way

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this country is going with all of this

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wokeness with all of that and I hate to

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overuse the word wokeness but but you

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have people that are appointed to the

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various jobs that are patently

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incompetent you you have generous or

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groundhog totally and completely

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incompetent in every level you have Pete

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bootages totally incompetent you have

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you you've got Senator Ted Cruz on the

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wires today telling me that the

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highlight of his legislative career this

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year is he is trying to pass legislation

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to restrict the price of to restrict

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price gouging on tickets on on concert

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tickets and and I got to ask myself

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who the hell what the hell is a U.S

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senator involved in the process of what

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I pay for a concert ticket or not right

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I I got I got people regulating Tick

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Tock who cares if what what what what

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whether I use tick tock or not what are

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what are these people doing regulating

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the things that they're regulating it's

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just it's absurd it's ABS I wish they

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regulate how much I have to pay in taxes

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every year and I think 44 is too damn

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much and you know but we don't and we

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don't live in California we don't live

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in San Francisco or New York City either

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right you know what I mean that's I read

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the other day where it takes three

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hundred thousand dollars to make a

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hundred after taxes so the banking stuff

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what's your what where you think this

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thing's going

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you know

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I I think the big Banks survive I think

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you have one or two more of these small

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Regional Banks and you know you tell me

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how high interest rates I mean if the

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FED if Mary Daley keeps raising interest

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rates every bank is going to have this

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problem every time you raise interest

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rates the value of those bonds

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I I just got off the phone with my

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friend Rich Brian and I told him I was

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going to be on your show and he says

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will you is anybody still buying nudies

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I said well Stan sells a lot of them for

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a particular reason wait a minute that

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guy asked that if I told him the number

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he would choke yeah yeah and I said well

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you can lock in an interest rate I said

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you tell me where the 10-year tragedy

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two-year treasury is gone I said well

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Stan you can tell him what a one with

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their what their annuity money is going

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to do and and he said you know I said

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will you tell me where interest rates

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are going you you tell me where interest

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rates are going and and I'll tell you

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how many more Bank defaults you're going

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to have

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um you know it's it's a it's a situation

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it's a difficult 31 trillion in debt

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they keep raising it it's getting uglier

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and uglier it makes it makes our debt

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much more difficult to service

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absolutely and then you wonder and then

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you wonder why China is ascending we are

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descending you've got Europe there's CMA

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out there blocking the deal between

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Microsoft and Activision and it blows me

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my mind I said to myself what the hell

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what the hell is anybody in Washington

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DC doing regulating video games I don't

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care how much you pay for a video game I

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don't care if Microsoft buys Activision

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and they raise the price of of the game

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50 what do I care it's not it's not a

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significant it's nothing worthy of

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government to deal with the price of

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video games buy them don't buy them I

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could care less

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you know

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but but that's the minutia that our

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government deals with because and I'm

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going to tell you this stand this might

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come as a shock to you

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a lot of Americans are really what's the

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word stupid really oh my God

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you know what I call them you know I

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call them voters yeah so yesterday

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I had a kind of light day and I'm

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getting older and sometimes it's a

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little hard for me to get cranked up in

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the morning so I said you know there I

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heard the news that Governor DeSantis

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who regulates me and could shut me down

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in about five seconds

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uh got sued by Disney so it took me an

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hour but I finally got a hand I got my

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hands on the on the actual lawsuit and I

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read the lawsuit

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between Disney and Governor DeSantis

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so I get a call from my son last night

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telling me that his employer Charles

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River's lab has gone so woke that

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they're giving away Disney tickets well

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they're not really giving them away but

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they're charging you twenty dollars a

10:45
pay period for Disney tickets

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and and Charles Rivers is about as woke

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a company about his bleeding heart

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Massachusetts liberal company as you can

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find

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and then Linda jumps in and Chris jumps

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in and they're telling me all about I

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said wait a minute did you actually read

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the lawsuit from the state of Florida

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because it was written in crayon It Was

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Written in crayon for third graders if

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you really read the lawsuit

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by Disney against Governor DeSantis it

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was a tutorial on contract law 101. but

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nobody reads them and so what's

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happening in this country everybody has

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gotten a side and yet nobody reads the

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actual

11:29
the actual lawsuits nobody reads the

11:32
facts nobody knows what they're talking

11:33
about right and and that when you get

11:35
right down to it that's what Tucker

11:37
Carlson that's what Sean Hannity and

11:39
Laura Ingram ended up costing Fox News

11:42
800 million Force

11:43
they were lying about the facts and none

11:47
of the American people were fact

11:49
checking the reporters so if you

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actually read this lawsuit against

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Governor DeSantis and I'll tell you this

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now and I promise you this

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the state Disney's going to get an

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injunction in their favor against

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Governor DeSantis and his chances of

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running for president are over he he is

12:09
already already ascended into the

12:10
position of of ass Assam just totally

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asinine and and nobody wants to hear it

12:16
anymore nobody wants to hear

12:18
anti-business from a Republican and uh

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this is going to win this argument this

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argument

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that's right

12:26
um last time we were on

12:28
um Bitcoin was having his issues with um

12:31
innocent to a proven guilty Sam bankman

12:34
freed

12:35
um

12:36
it's it's dumped here and there is this

12:38
thing being propped up I mean I don't

12:40
follow Bitcoin or the crypto space at

12:42
all I just think uh there's no

12:44
underlying value where do you stand on

12:46
that because I'm sure your your clients

12:49
and potential clients are calling you

12:50
all the time going what about Bitcoin

12:51
what about Bitcoin we still call it

12:54
cryptocurrency

12:56
I tried to buy microstrategy stock for

13:00
myself as a trade a few times

13:04
not because I believe in it or I would

13:06
put it under my pillow but just because

13:08
I think crazy people were running it up

13:10
and I wanted to get a piece of it

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um

13:13
we don't follow it we don't use it I

13:15
don't believe in it

13:17
all I know is I got I got Ted Cruz

13:20
worrying about ticket prices I got

13:22
Governor DeSantis worrying about The

13:25
Mouse House

13:26
and meanwhile the SEC has turned to

13:28
completely blind eye you got a banking

13:31
crisis in America

13:32
and and and the sec's turned a

13:35
completely blind eye to one of the

13:38
biggest scams in the history of the

13:39
world they're still not regulating that

13:41
they're still not regular they're still

13:43
not going in there and and doing what

13:45
they need to do in my opinion and it

13:47
just feels like to me and I'm sure I'm

13:49
wrong that's just a handful of large

13:52
people are propping that up and me and

13:54
you both have read this the stats where

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the vast majority of people that invest

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in crypto make less than fifty thousand

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dollars a year and it's a get rich quick

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and in some cases based on uh some of

14:05
the uh minority groups out there they

14:08
trust crypto more than they trust the s

14:10
p 500. so well you know if crypto is

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ever going to have its day it was on the

14:16
day that svb went bankrupt right if it

14:19
was ever going to have a day never going

14:21
to be an alternative that's a good point

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and and and nothing hap nothing good

14:25
happened nothing good came of it there

14:27
was no benefit from it and um it's a

14:30
total scam it's just a total scam I get

14:32
a lot of calls about and I got an

14:34
article sent to me a couple of the same

14:36
article about two or three people about

14:38
the United States government

14:40
creating a crypto type currency and then

14:43
eliminating the dollars you know I if

14:46
you want to go down that rabbit hole

14:47
that's an easy way for the government to

14:49
tax us daily and just get rid of April

14:51
15th

14:52
um well you said that to our clients to

14:54
China's already got that and and China

14:56
uses it that way and they also use it to

14:59
control Behavior right right if you go

15:01
out with your iPhone and and you you

15:04
know you go into some cigarette store in

15:06
China and you buy a pack of cigarettes

15:08
um the Chinese gestapo is going to show

15:11
up on your door the next day and go you

15:13
know break your hands and go what do you

15:14
what are you buying cigarettes for you

15:15
know it's bad for you and that's what's

15:18
going to happen here there there is

15:20
going to be a digital currency in the

15:22
United States is not going to supplant

15:25
the US dollar yet there will be a piece

15:28
of paper called the dollar but if you

15:31
watch the way

15:32
kids use money you go down to Disney

15:35
World and you go buy a Coke or you buy a

15:39
Pepsi or whatever brand paid to be there

15:41
the kids are tapping it with with their

15:43
apple pays

15:46
Apple yeah all that stuff yeah I had a

15:49
guy that built a fence for me today so

15:50
could you zip could you could you um uh

15:54
PayPal me the money to this day I don't

15:56
know what PayPal does or why it exists

15:58
except for you know another business

16:00
that Apple was gonna knock off and kill

16:02
but um

16:06
where it's coming in the United States

16:09
is

16:10
you know your paycheck is already known

16:13
to the IRS your Investments are already

16:15
known to the IRS right you're going to

16:18
start making your payments and receive

16:19
your paycheck and your electronic bank

16:21
account and the IRS is just going to

16:23
mail you a tax return and say by the way

16:24
uh thank you very much we've already

16:27
withdrawn the money and put it we've

16:28
already paid ourselves with your money

16:30
and um I totally agree you know when

16:33
they they talk about the IRS hiring all

16:35
these agents I'm like I don't know why

16:37
because we're getting ready to go to

16:38
this digital currency and it's all going

16:39
to be real time there will be no April

16:42
15th there will be no extensions

16:44
um they'll just tax when they want to

16:46
tax it'll be daily actually I got off

16:48
the phone yesterday with our lawyers and

16:51
we're investigating moving the practice

16:52
down to Puerto Rico so I don't have to

16:54
pay 400 500 000 a year in federal income

16:58
taxes down there uh he tells me you're

17:01
welcome to come but the IRS is getting

17:03
ready to begin to audit those companies

17:06
down there and there are a lot of people

17:08
in my industry uh basking on the beaches

17:11
with a machine gun is it shift down

17:14
there Peter shifts down there yeah

17:16
that's exactly who he mentioned was

17:18
Peter [ __ ] there I'm going to tell you

17:20
something he might be the reason they're

17:21
coming down there to get it to get this

17:23
but then again you look at you look at

17:26
you look at uh Saint Thomas another U.S

17:28
Virgin Island and you know that place is

17:31
a literal slum now that place is that

17:33
place is a basket case the Hurricanes

17:35
the covet and everything else you know

17:38
if the government would open up that as

17:40
a tax-free Haven I'd be in St Thomas and

17:43
not Jacksonville so but uh yeah I don't

17:46
think there's going to be anywhere to

17:47
hide I do think that what scares me a

17:50
little bit and I try not to go down the

17:51
rabbit hole I'm trying to enjoy my

17:52
second chapter of my chapter two of my

17:55
life and I'm not look people ask me the

17:58
other day someone asked me the other day

17:59
Stan you want to would you want to be

18:01
young again no I'm good I'm good right

18:03
here

18:05
um I'll just ride this thing out as far

18:06
as as far as I can

18:09
um but do you see do you see it more

18:11
more being from a from a domestic

18:13
standpoint of control or do you see that

18:15
Global Currency thing that scares all of

18:17
us

18:18
it's Global the you know Andrew Ross

18:22
sork and the semi oh your friend the

18:25
semi-effeminate male on CNBC by the way

18:28
the last time you you had you started

18:30
talking about that I got a bunch of

18:31
emails going why is he putting him down

18:33
why is he calling him out for his frame

18:36
or whatever I'm like listen it's a free

18:38
country Marty can say what he wants I

18:41
just like just if you don't like it I'm

18:42
sorry but we're informing and

18:45
entertaining at the same time I'll call

18:47
it edutainment but people need to hear

18:50
the truth I am so tired of the tiptoeing

18:53
around things word games we don't do

18:57
word games do people deal with me or you

18:59
in business no no word games by the way

19:02
Lighthouse retirement.com his name is

19:04
Marty parlato he is a icon in the

19:07
business

19:08
and for whatever reason he's not sitting

19:11
on CNBC right now yelling at you because

19:13
he should be

19:15
um so Sorkin was on CNBC today and he

19:19
makes the point that the UK the CMA

19:22
division or entity of the government in

19:25
the UK is the one that banned that uh

19:28
that denied Microsoft a chance to buy

19:31
Activision to the CMA so Sorkin rightly

19:34
makes the point that the United States

19:37
seems to have outsourced our Anti-Trust

19:41
Department to Europe because once Europe

19:45
makes a decision it's not appealable

19:47
it's non-appealable

19:50
so Microsoft now has no choice but to

19:52
abandon

19:53
the Activision deal whereas sorkin's

19:56
point was really that that decision

19:59
should have come from the United States

20:00
because Microsoft is an American company

20:02
Activision is an American company what

20:05
the hell are we doing letting Europe do

20:07
our work for us and you know wow you

20:12
know I didn't know that what what you

20:14
can't appeal not in Europe

20:18
there's no appeal

20:21
so that's is that the reason a lot of

20:23
these um larger software type cases are

20:26
going through Europe

20:27
that's the point sorkin's making the

20:30
point that sorkin's making is that

20:32
there's an unspoken relationship between

20:35
the UK and the USA to defer action in

20:39
the USA and let Europe

20:42
make the decision and then the United

20:45
States is bound to follow that decision

20:48
here's an office talk because you know

20:50
when Marty and I get together you know

20:52
we chat for a little bit before we start

20:53
recording and um he he knows he's a good

20:57
friend he we just talk we're just

20:58
talking I mean people always ask me

21:00
stand who scripts out everything for you

21:02
script what are you talking about we

21:03
don't do Scripts

21:04
I got a question for you do you think

21:06
college as an industry is a dying

21:08
industry

21:12
I've said or

21:14
20 years

21:18
to go to is the College of Apple I think

21:21
that and I think this goes to um

21:24
this is a really interesting question

21:26
because you see there's a lot of news

21:28
today on the uh teachers union there's

21:30
Randy winegarden chick

21:34
and you know you you I was listening to

21:37
What's Left of Fox News last night and

21:40
they were talking about

21:42
um the new pronouns in the Vermont

21:44
schools it's uh the the human being that

21:47
makes sperm and the human being that

21:49
produces eggs that's the new pronoun for

21:52
boy and girl right that's fantastic to

21:55
be honest with you I'm too I'm too old

21:57
to be involved in the school system but

21:59
I go down you know where I'm talking

22:01
about in Jacksonville Racetrack Road in

22:03
the morning to go to the office and I

22:05
got to go through four school zones to

22:07
get there and I don't know what these

22:08
mommies and daddies are thinking now

22:10
these are the same mommies and daddy the

22:12
[ __ ] endlessly about the government and

22:13
taxes and this and that sure they do

22:16
nothing right

22:17
um the only thing good came out of covet

22:19
is that every little kid's got a bicycle

22:21
and that's great they get a little bit

22:23
of exercise but you got these mommies

22:26
and daddies that are out in their

22:27
underwear until nine o'clock in the

22:28
morning I don't know where the hell they

22:30
work I don't know who the hell lets

22:31
these daddies come into work this late

22:33
but but the bottom line is I don't know

22:36
why they're letting these kids go to

22:37
these schools when what I've said for

22:41
the longest time is if I were Apple

22:45
I would go out and pay an algebra

22:48
teacher a million dollars a year I'd

22:50
find the best algebra teacher money

22:52
could buy

22:53
I pay him to teach the best algebra

22:56
class he could buy or he could produce I

22:59
put an 80 inch Panasonic LED TV in every

23:03
classroom I'd hire a parent or two to

23:05
sit in a classroom and Proctor the class

23:07
but that's the that's the algebra class

23:11
every 9th grade or tenth grader in the

23:14
country would get

23:16
and it'd be the best it'd be the

23:18
absolute but but to have five million

23:21
teachers all teaching the same crap year

23:23
after year after year let's just call

23:26
the school system what it is a gigantic

23:28
day care center and it's and it's not

23:31
even a good day care center so you know

23:35
big problem in schools

23:37
you gotta have college but come on we

23:41
all know that you're overpaying for that

23:43
too you know and the easiest way to

23:45
become a millionaire is to become a

23:47
plumber an electrician or a heating and

23:49
air conditioning specialist go be a doc

23:51
Builder go build a doc go yeah go build

23:54
docs or or here's one

23:56
um do lawn service and show up on time

23:58
and do a good job

23:59
um it's unbelievable one of the best and

24:02
I'm gonna get off this top a little bit

24:04
but I think college is just I think

24:05
we're reaching a point where

24:08
it doesn't matter I will tell you that

24:10
in my large office in Vegas and we hire

24:12
higher higher we'll have you know we

24:14
have tons of people in there I never ask

24:16
about college

24:18
I mean I I I mean I have Consultants

24:21
that put them through the ringer and

24:22
they do the tests and then they get them

24:23
to me and I never ask hey where'd you go

24:26
to college because I don't care

24:28
I want to know if you're competent

24:30
you're going to show up on to work on

24:32
time I can you know just by discernment

24:34
tell if you're if you're for real hey

24:36
let's talk about cable real quick just

24:38
because I really don't watch cable a lot

24:40
and for people that are addicted to Fox

24:43
or or MSNBC or CNN you got to understand

24:46
there's 300 300 million people in the

24:48
country three million people watch cable

24:51
okay but where do you see that going I'm

24:54
assuming

24:56
um

24:56
Fox is going to go down the toilet with

24:59
with the rest of them do you see the

25:01
viewership if you look at the people

25:05
O'Reilly

25:06
uh Megan Kelly now Tucker Carlson I mean

25:09
that's three or four of the best in the

25:11
industry

25:13
that's good talent yeah and they kept

25:15
Sean Hannity and Laura Ingram two of the

25:18
absolutely biggest blithering idiots in

25:20
the industry they kept

25:23
um I said to Linda last night I said you

25:25
know what she said well Tucker's got a

25:26
house down in Florida I said well I

25:28
don't understand why they don't all have

25:30
houses down in Florida yep I have a real

25:33
question and you live down here I live

25:35
down here sure why the hell are we still

25:36
broadcasting out of New York well I have

25:39
no idea Jacksonville why aren't we

25:41
broadcasting out of Miami how do I want

25:44
to watch a bunch of woke morons in New

25:46
York talk to me and see Times Square I'd

25:49
much rather see what's going on in Miami

25:51
at you know six I I don't know why we're

25:54
still broadcasting out of New York I

25:55
don't know why New York's a Central

25:57
Central Hub of media well it didn't

25:59
didn't Citadel

26:00
um hedge fund moved to Miami yeah yeah

26:03
building all kinds of towers moved down

26:05
to Chicago building off kind of towers

26:07
down there big big big to Santa's

26:10
supporter Big Time Annie's warned he's

26:12
worn DeSantis about this Disney nonsense

26:16
and and the scientist is not listening

26:18
so you know but yeah why aren't we doing

26:21
it why are we doing the Morning News out

26:23
of Miami

26:24
uh hey Mark Marty what's the bond market

26:26
looking like to you right now when you

26:28
glance at that I know it's choppy and

26:30
ugly and people have found out that

26:32
bonds can go down in value they've got a

26:34
wake-up call that 60 40 napkin close

26:38
that Johnny eight Johnny advisors giving

26:40
people 60 in equities and 40 Brazilian

26:43
bonds they're finding out that that's

26:45
not safe we we we we installed I

26:48
installed the uh amazing Gemini

26:51
performance portal over there that's

26:53
fantastic

26:55
lighthouseretirement.com all one word

26:57
and so I can see where my clients are

27:00
and we are enormously successful dude

27:04
we're far outpacing in most accounts

27:08
any of the indexes and and no no two of

27:11
my clients have the same portfolio and

27:13
why would they right

27:16
um they all came on at different times

27:18
they have different goals and

27:19
aspirations so you you can't make a

27:21
blanket Assumption of what our returns

27:22
are but they're very significant we

27:25
dabbled in the bond market and you know

27:27
this because I called you talking about

27:29
sure

27:31
annuities we dabbled in it for a few

27:34
months this year when it got kind of

27:35
dicey Rich Brian just called me a few

27:38
minutes ago said you know I still got

27:40
money over it someplace you know five

27:43
percent for sitting in cash I said what

27:45
are you going to do Brian what are you

27:47
going to do if this is the last interest

27:48
rate hike what what are you gonna do

27:50
Microsoft

27:52
said in their last quarterly call

27:54
that when this interest rate cycle is

27:57
finally over you're going to have a rip

28:00
your Face-Off rally on the stock market

28:01
now you've already gotten a bunch of

28:03
that from Microsoft this year if you

28:06
Microsoft's up another 50 cents this

28:08
morning even as we speak but um

28:12
it's not a market that I really want to

28:14
be involved in

28:16
um you know you know and then and then

28:19
the other situation is anything the

28:20
government's involved in I don't want to

28:22
go anywhere near and you know Bond

28:25
markets the bond markets for really rich

28:28
people I'm not that rich yet

28:31
why do you say that go deeper into that

28:33
comment I can't live I can't live on

28:36
five percent tax and ordinary income on

28:39
the amount of money that I have I can't

28:41
live on five I don't want to live on

28:43
five percent of that I got it okay I

28:45
don't have any clients that can live on

28:47
five percent of their money or want to

28:49
live on it and when you know I mean just

28:52
look at just look at

28:54
Facebook meta I think Facebook's up like

28:57
140 percent this year and you had to be

28:59
duffed on blind and stupid to not see it

29:01
yeah I did not you had to be stupid to

29:03
not see that opportunity uh earlier this

29:06
year when those activists gotten

29:07
involved you know and I was just writing

29:10
about it to our clients and our morning

29:11
commentary I said look we told you that

29:14
there were activists involved in this

29:16
company and more importantly Mark

29:18
Zuckerberg said look I welcome them

29:20
bring them in you know look you know

29:22
instead of fighting them he said okay

29:24
come in

29:26
tell me how to fix what's going on here

29:27
tell me what I got to do look at my

29:30
stock price I've gone from below 200 to

29:32
233 dollars to I mean below a hundred

29:36
to two hundred and thirty three dollars

29:38
today and all because activists come in

29:42
and he Embraces the change he Embraces

29:44
the advice and bada bing bada boom and

29:47
and then you got Microsoft I mean you

29:49
know somehow Zuckerberg runs underneath

29:52
the radar

29:54
um

29:54
and it sounds like you have a a respect

29:57
for him that um that he's kind of

30:00
Surfing through I have a respect for him

30:03
in this regard

30:05
we were I was playing tennis eight or

30:07
nine ten years ago down in Vero Beach at

30:09
our club and we were they were talking

30:12
about breaking up Facebook then right

30:14
and

30:16
one of the one of the tennis players

30:18
said they'll never break up Facebook

30:20
because we're with all of our wives show

30:23
us pictures of our grandkids in other

30:25
words that's what the women do down in

30:27
The Villages down in wherever they are

30:28
they sit there in the morning while

30:30
they're playing tennis and they're

30:31
showing you pictures of their dog and

30:32
their cat and their kids and their you

30:34
know the grandkids on Facebook where

30:35
else are you going to go people love

30:37
Facebook you know so the same reason

30:40
they haven't got rid of tick tock yet

30:41
right you know are the Chinese spying on

30:44
us I don't know where the child I assume

30:46
you know and I want to and and so that's

30:49
another reason this client sends me this

30:51
hate mail says hey Marty why are you a

30:52
chi-com lover because because I think

30:55
the government screwed Tick Tock I think

30:57
they tried to screw Tick Tock that that

30:59
hearing that they had about a month ago

31:01
was the most prejudiced hearing that

31:04
I've ever seen yeah right it was an

31:06
absolute grilling of tick tock where the

31:09
CEO of tick tock says look I'm I'm

31:10
bringing the product home to America I'm

31:12
putting Americans in charge I'm soaring

31:14
it I'm storing it on the um

31:17
on U.S cloud services the same cloud

31:19
services the US government stores their

31:21
data on is being run by Americans for

31:23
Americans what else do you want us to do

31:25
and they still haven't broken them up

31:27
yet right well they're not going to

31:29
because you because young kids love it

31:31
and politicians use it for their

31:34
re-election and their fundraising

31:35
campaigns correct and and so my my

31:37
comment to through our clients is look

31:40
when they tell me that I said look I

31:42
assume we're spying on China exactly the

31:44
same extent as China is spying on us

31:47
I assume we're doing all the things that

31:49
Russia and China are doing and bad

31:51
things that they're doing and if we're

31:53
not I'd like to know why we're not doing

31:55
those things because it's naive to

31:58
assume I'm sure I'm sure we are at a

32:00
higher level

32:01
sure

32:03
probably doing it better probably doing

32:05
a better job and and I'm okay with that

32:07
but um

32:09
you know

32:11
let's talk about our friend in San

32:14
Francisco his name's Elon and his last

32:16
name is musk and he's got a little

32:18
little company he just bought for poops

32:20
and Giggles called Twitter

32:23
um

32:24
I'm not betting against Elon because I

32:26
think he's going to make another 100

32:28
billion or whatever on the artificial

32:30
intelligence space

32:32
but what's your take on him obviously

32:35
he's not good politically and he doesn't

32:36
care which is good do you think Twitter

32:39
is a buy here from the standpoint of a

32:41
stock do you like it do you watch it

32:44
I don't use it and and there's a simple

32:46
reason that I don't use it you may or

32:48
may you may you you probably managed to

32:51
circumvent the problem but again I don't

32:55
want Regulators up my behind and

32:57
anything I say or do on on Twitter would

33:01
have to be archived and accounted for

33:04
and I just don't go anywhere but as a

33:06
stock do you think do you think it's a I

33:09
would not buy I would not buy Twitter

33:10
the stock what I would tell you is in

33:13
the last two weeks I was on the uh

33:16
celebrity

33:17
uh wonder of the Seas and got to use his

33:21
Sky Sky link yes and that's what

33:24
Ukraine's using correct and my son just

33:28
bought a piece of property out in

33:29
Palatka

33:31
um by the way Palatka Florida is in the

33:34
middle of Florida that's all we have to

33:35
say yeah and um

33:38
there's no internet out there you know

33:41
you know but meanwhile Ted Cruz has time

33:43
to go around and wonder why we can't buy

33:45
concert tickets we still don't have

33:47
internet in this country but um he's

33:49
using Skylink out there and they're sold

33:52
out there's there's like a over a year

33:55
waiting list to get one of these

33:58
antennas and and then to get on the

34:00
service is even longer so and he's

34:04
getting 300 megabits in Palatka which is

34:07
more than enough to stream what you and

34:09
I are doing right now so if you can give

34:11
me 300 megabits on a satellite and the

34:14
system's not even up and running that's

34:16
a game changer of a technology and

34:18
they're using it on all of the cruise

34:20
ships which just so you know it's

34:23
cheaper but you're not going to get a

34:24
discount on the cruise ship there's

34:26
there's no discounts so that's that's

34:28
his killer app that nobody knows about

34:30
right I think that and his um his whole

34:33
you know his entire space venture or

34:35
whatever they call it he's an alien

34:37
let's just face it I mean you you know

34:39
he he goes by A Different Drummer

34:41
um he sees the future I think a little

34:43
bit better than most and he can

34:44
Implement at a large scale

34:47
I'm a fan

34:48
um he's the only guy you know that can

34:50
blow up a rocket a multi-million dollar

34:52
rocket and call it a success so we

34:55
learned a lot from that you know and it

34:57
never thought about it hey hey Marty

35:00
that's the new definition of liquidity

35:02
yeah yeah well he's got some he's got

35:05
some yeah that skylink's gonna be huge

35:08
that's that's an interesting you know I

35:10
was only familiar with the Skylink

35:13
um technology because I think he's

35:15
allowing Ukraine to use it during all

35:18
this chaos right which leads us to

35:20
Ukraine Marty couldn't care less

35:24
couldn't care do you care less about the

35:25
billions we're sending yeah I wish don't

35:29
you don't you know that there's

35:31
seven people in Ukraine that have 10

35:34
billion a piece somewhere

35:37
each

35:39
look look you know that that war in

35:41
Ukraine has become

35:43
a straight up proxy war

35:45
for the United States and somebody made

35:49
a very somebody made a really

35:50
intelligent comment yesterday about uh

35:54
North Korea right North Korea is

35:57
threatening you know we sent we sent

35:58
nuclear missiles to South Korea

36:00
yesterday

36:01
and the point was that you've got to

36:04
find a way to get people like North

36:07
Korea and Russia

36:10
what what Russia managed to do with this

36:14
threat of nuclear weapons

36:18
was to effectively stalemate the United

36:20
States and Europe into letting Russia do

36:23
whatever they want in the Ukraine now

36:26
you've got that same problem in North

36:28
Korea they're afraid that North Korea is

36:30
going to be able to produce nuclear

36:32
weapons which I'm sure they can or will

36:34
same thing with Iran and then you're

36:37
going to have the threats of those

36:39
Nations saying outright up front if you

36:42
don't do what I want or give us your

36:45
territory or whatever we're going to

36:47
Nuke you or nuke the United States West

36:49
Coast

36:50
we have a real problem here and look

36:55
it's it's not

36:57
without recognition it's not less than

37:00
obvious that gutless cowards like

37:03
secretary blinken right a total

37:08
semi-effeminate male uh if you know

37:11
nothing wrong

37:13
personality this guy's a z personality

37:16
you know it's not

37:19
it it it's not surprising that countries

37:24
you know are taking advantage of the

37:27
United States is simply not surprise I

37:29
would too I mean this is China's time to

37:31
strike this is you know if I could take

37:34
a shot at Fidelity I took a shot at

37:36
Fidelity last week I said look you know

37:39
if if you look at the Johnson family

37:41
they're the biggest Democrats supporters

37:43
there is they're the reason for this ESG

37:45
nonsense you know if if you don't like

37:48
ESG then you should hate Fidelity if you

37:51
hate Fidelity you should move all your

37:52
business to my account if I could there

37:55
you go I could put the nail in the

37:56
coffin at Fidelity and drive all that

37:58
business to my practice that'd be great

38:00
I'd love it no problem and that's the

38:02
way China thinks and that's why my

38:04
clients don't understand that's why they

38:05
think I'm a China lover I respect the

38:08
fact that China is out competing the

38:11
United States every single day and they

38:15
get up with that being their mission in

38:17
life

38:18
and in the United States you cannot say

38:21
that it's our mission to defeat China

38:24
it's our mission to put down time it's

38:26
our mission to be superior to to to

38:29
um

38:30
to uh

38:32
it's our mission to be superior to

38:34
Europe it's it's not okay to be superior

38:37
anywhere in this country

38:39
at all and um

38:42
speaking of ESG

38:45
um you know the last time you were on

38:48
you just you you went off on our friends

38:52
in Manhattan

38:54
starts with a B BlackRock you kind of

38:57
said hey they're they're offloading

38:59
their bad bonds to you and all that

39:00
stuff but the ESD stuff I think people

39:03
don't understand the severity of that

39:05
and I think it was driven a long time

39:08
ago by Calpers which is the California

39:10
pension plan out there I didn't they

39:13
demand this type of investing and that's

39:16
what kind of drove this thing across the

39:19
border am I missing something on the ESG

39:21
and first of all explain ESG to the to

39:23
the listeners and viewers where where

39:25
ESG

39:28
where ESG really began to hit home was

39:32
about a year and a half ago back when

39:34
oil got up to 120 dollars a barrel

39:38
and the evil oil companies suddenly

39:42
started making a lot of money

39:45
what had happened the problem was that

39:48
as an investment the oil industry had

39:50
been under invested

39:52
in other words mutual funds

39:54
ETFs

39:55
investment funds Pension funds Calpers

39:59
and the such

40:01
have been avoiding investment in those

40:03
energy companies to the point that they

40:06
were underrepresented in the s p 500.

40:09
so

40:10
that was a direct result of the

40:12
blackrocks because BlackRock had said at

40:14
one point in time we will not allow any

40:17
investment in Exxon or Chevron or any of

40:20
the oil companies we will not allow

40:22
anybody that lends them money anybody

40:25
that Banks them anybody that provides

40:27
them goods and services we're going to

40:28
punish them inside of our ESG funds now

40:32
I said at the time I said at the time

40:34
that that ESG those funds I said two

40:37
years ago those ESG funds were total BS

40:39
right they were just like those loser

40:42
um

40:43
um

40:44
bonds the target date funds where if you

40:48
retire in 2015 you should have this in

40:50
2020 you should have total loser

40:52
Investments right it was just some way

40:54
for BlackRock to repackage the same crap

40:57
and call it something else like to this

40:59
day I don't know why we have Diet Coke

41:01
and Coke Zero that makes no sense right

41:03
you just re-pass this more shelf space

41:05
for Coke but the point of it all was

41:09
that's what BlackRock was doing and

41:11
that's why they very nearly crippled

41:14
Exxon Exxon simply couldn't get money

41:17
for for reinvestment and and so that

41:20
manifested itself

41:22
by the time the war in the Ukraine got

41:24
here that manifested itself with Exxon

41:27
not having enough capacity not being

41:29
able to bring Supply onto the market and

41:32
now there's this tremendous backlash

41:34
against it

41:36
and uh

41:38
um

41:40
and and you know

41:42
well I think what's more important

41:45
is to understand that these are major

41:49
Democrat

41:51
donors the BlackRock group The the eye

41:55
shares people uh the Johnson family at

41:58
Fidelity these are major

42:01
but what's their goal they they could

42:03
care less about social programs or

42:06
anything their goal is is money flowing

42:08
in and profits and they could care less

42:11
about schools and Roads and things like

42:13
that they could they care a great deal

42:15
about schools they like it when that's

42:17
true

42:18
you're right they like stupid they like

42:21
the product that the school systems are

42:23
pumping out stupid people they like the

42:26
fact that my 42 year old son knows zero

42:29
about stocks zero right absolutely my

42:33
daughter zero about I have a

42:36
multi-million dollar business and can I

42:38
get one of my kids interested in

42:41
inheriting this business

42:44
yeah a lot of entrepreneurs share the

42:47
same I don't think it's frustration I

42:49
mean my daughters certainly don't want

42:50
to be their name the annuity man but

42:53
um but you know they they don't have any

42:55
interest in in a the large business that

42:59
I've built which is I think is is

43:01
interesting you know long term and

43:02
that's fine that's on them they can they

43:04
can do what they want to do

43:06
um

43:08
markets we talked about earlier um

43:10
obviously you're seeing upside in the

43:13
near

43:14
near future correct you're saying a tear

43:17
your face off Bull Run that was such a

43:21
nadala's quote from Microsoft so who Am

43:24
I who am I to disagree with Sachi navat

43:26
nadala there goes there goes Facebook up

43:28
there goes Facebook up 25 this morning

43:31
25 at the time of the state we're taping

43:34
it about a week out is when he's reading

43:36
that I said don't don't look at your

43:38
screen though when you're when you're

43:39
listening to that but um what else is

43:41
out there that's that's um either good

43:43
or bad let's talk about good what is

43:45
good out there Marty that you're seeing

43:47
that makes you get up in the morning

43:48
smile and skip to the coffee maker as

43:51
you get your first cup of coffee

43:57
um

43:59
I first of all it's not daylight when I

44:02
wake up it's about three o'clock in the

44:04
morning when I head to work yep um I'm

44:06
I'm optimistic I'll tell you what I'll

44:09
tell you what's good for me and my

44:11
business we lost only one or two clients

44:13
last year and

44:15
um we're looking at having added a lot

44:18
of clients and now I'm waiting as as my

44:22
friend Louie now here would say to I'm

44:25
waiting for the market to turn around

44:26
and drop kick my AUM my assets under

44:30
management back up to where they were

44:32
and because we've added a lot of new

44:34
clients

44:36
um I'm going to you know the

44:38
government's gonna love me even more

44:39
they're going to take even more of what

44:41
I make

44:42
um

44:43
I um so I'm looking for the market to

44:48
recover and and it's and it's been

44:50
pretty clear Stan it's the same

44:53
companies over and over and over again

44:57
you know you look at Microsoft it's

44:59
bigger than the entire airline industry

45:01
in the United States

45:03
I mean so so what what do I need to go

45:06
invest in delta or JetBlue or any of

45:08
that crap when I can own Microsoft what

45:11
what I got apple

45:13
who's got better credit quality than the

45:15
rest of the world I was thinking about

45:17
it this morning I'll tell you what's

45:19
changed in my life I've become a

45:21
different investor I become an investor

45:22
more like Warren Buffett

45:25
who I who I refer to as inferior to me

45:28
because on a percentage basis I own more

45:31
Apple in our portfolios than he does and

45:33
I own it at a lower cost basis than he

45:35
does well also you weren't handed you

45:38
weren't handed a ton of money to get

45:40
started in the Washington Rolodex like

45:42
he was and good for him but I do you

45:45
know I point out this all the time

45:47
you know Donald Trump was handed what 50

45:50
million dollars or whatever by his dad

45:51
okay great hand me and Marty 50 million

45:54
coming out of college and see where we

45:55
would be at okay same thing with Buffett

45:59
yeah

46:01
come on man I mean you know so you know

46:04
Trump this Trump that but he was he was

46:06
handed success he just either blew it

46:09
however you want to look at it blew it

46:10
or blew it up

46:12
um and the same thing with Buffett he

46:13
was handed if you don't know the story

46:15
Washington DC Rolodex and lots of money

46:18
to get started now has he done a good

46:20
job from a value investment standpoint

46:22
yes but give Marty parlato and stand the

46:25
annuity man 50 million dollars in a

46:27
Rolodex you would I mean like he said

46:29
we'd be we'd own a we'd own a country

46:31
somewhere well all I know is Warren

46:34
Buffett didn't buy any Amazon last year

46:36
and I can't tell you when that's going

46:38
to bite him into buttocks but at some

46:41
point people are going to come back to

46:43
Amazon and go oh I could have you know

46:45
it's like the old V8 commercial oops I

46:47
could have had an Amazon I could have

46:49
had Amazon it sub 90 a share and you

46:53
know what I ordered from Amazon this

46:55
week Stan I ordered a wheel for my gate

46:58
a hinge for my gate another hinge for my

47:00
gate four sets of brackets for the gate

47:03
on my on my fence I ordered a hair

47:06
fluffer blower dryer thing and by the

47:09
way the hair fluffer blower dryer for

47:11
people on the video it's beautiful man

47:12
for my granddaughter that was for my

47:15
granddaughter no I thought

47:16
and I and I ordered a poop carrier for

47:19
my son for his RV so he can carry the

47:21
poop from the RV down to Crystal Cove to

47:23
dump the poop which is why I don't have

47:25
it which which you just answered why I

47:27
don't have an RV

47:29
right right but the point of it was I

47:32
don't even shop anymore I I the only

47:35
thing that I go to Walmart for is a

47:37
bottle of water I mean I don't even shop

47:39
anymore so what you're saying to the

47:41
people out there from an investment

47:42
standpoint is don't get fancy

47:45
I don't think you need to get fancy I

47:47
think you look at a company like apple

47:49
who's now in India and I told our

47:52
clients this amazing story I said you

47:54
guys got to remember when we when we as

47:56
a team first started buying Apple we

47:59
have a lot of people try to buy my

48:00
company when they find out how much

48:02
Apple I have yeah it's a problem right

48:05
it's a problem for them

48:08
but I said you guys got to remember

48:09
where we bought Apple we bought Apple in

48:11
the 3G and the 4G phone was coming out

48:14
right and and and and before Steve Jobs

48:17
died and then after Tim Cook took over

48:19
it was a story of wait for China wait

48:22
for China come up China's coming out

48:23
we're going to be big and you had to

48:25
wait for China Telecom you had to wait

48:27
for China mobile and you had to wait for

48:29
them to build out 3G you had to wait for

48:30
them to build out 4G

48:32
and I would come on quarter after

48:34
quarter saying look the service is not

48:36
available the service to use these funds

48:37
tonight it's going to be available it's

48:38
not available yeah it's going to be and

48:40
if you were a Believer if you believed

48:41
in the gospel of Tim Cook you've made a

48:44
lot of money they're in India now

48:46
and these phones barely work but I was

48:49
watching the TV show on uh I don't know

48:52
Amazon Prime or something a few weeks

48:54
ago about this elephant guy this

48:55
Elephant Whisperer I think is what it's

48:57
called here's this guy that gets paid by

48:59
the government in India to take care of

49:01
a handful of elephants the guy's eating

49:03
the same grain that he feeds the

49:05
elephant he feeds the elephant a handful

49:07
of grain he puts a handful of grain in

49:08
his mouth that's what the guy eats is

49:10
well around Barefoot his shirt stories

49:11
but he's thin I mean he's not overweight

49:14
he lives in the exact same house as the

49:17
elephant he and the elephants share the

49:19
house right and your point is the guys

49:22
walking around with the gigantic iPhone

49:25
in his pocket right

49:27
they've got somehow they've got cellular

49:30
service there and so the government of

49:33
India can check on check in on him

49:35
periodically see how the elephants are

49:37
doing and pay him and all this other

49:38
stuff so the point I'm trying to make

49:40
apple is now big time in India While You

49:44
Were Sleeping waiting for the economy to

49:46
turn around waiting for the recession to

49:48
be over waiting for an interest rates to

49:49
stabilize

49:50
Apple's moving

49:53
head head first into India and you're

49:56
going to look back at this and say okay

49:58
God I didn't know India was going to be

50:00
bigger than China and China is bigger

50:03
than the United States and so that's the

50:06
way Warren Buffett used to think that's

50:08
the way Ron Barons think right about

50:10
stocks at some point it really doesn't

50:14
need to be that fancy right Brian was

50:18
telling me today Rich Brian was telling

50:19
me that what about Taiwan what about

50:21
Taiwan

50:22
how how how is it possible that China is

50:25
going to invade Taiwan create

50:26
instability around the globe China needs

50:30
China needs to export its goods and

50:33
services they do not need a crisis in

50:36
the supply chain or a crime China the

50:39
United States may drive us into a war

50:42
with Taiwan

50:43
but I doubt that it's going to be China

50:45
that provokes

50:47
um the United I I doubt that China will

50:49
be the provocateur I mean no one knows

50:52
but what's Your Gut feel do you think we

50:54
get in some type of um no conflict yeah

50:57
I I think that I I think that if you

51:00
look at where the rhetoric always comes

51:03
from it comes from the United States it

51:07
does not come from China China does not

51:09
retaliate Tit for Tat with the United

51:11
States trying to press us on presses on

51:14
presses on presses on presses on keeps

51:17
building Coal Fire plants keeps you know

51:20
keeps snubbing their noses at this

51:22
environmental wackiness you know the

51:24
crazy part about the environmental

51:25
what's your take on this as we close

51:27
this thing up India and China is like

51:29
yeah whatever on the environment if

51:31
India and China is not all in then why

51:34
are we all in

51:36
I don't know I mean everybody asks the

51:38
same question and we know the answer and

51:40
the problem is nobody in America's Got

51:42
the guts to stand up and say this well I

51:44
don't know they say it but they say a

51:46
lot of things you say Hillary should be

51:48
in jail okay

51:49
would somebody please go put the

51:51
handcuffs on her they say that you know

51:53
that that Hunter bides should be

51:55
somebody put the handcuffs on the guy

51:56
and we shouldn't be we should be

51:58
building Coal Fire plants go ask Joe

52:00
manchin why you know there's Amazon at

52:02
three dollars and twelve cents three

52:04
percent this morning he's getting on

52:05
there by the way I got to tell the

52:07
people Marty that this is a tape program

52:09
so don't look at your screen so he's

52:11
just reacting they report earnings

52:13
tonight so you know is it an opportunity

52:16
uh

52:17
you know I'm a little long-term long

52:19
term but see you're a long-term investor

52:21
you're not a you're I mean you you look

52:23
you're you're talking about

52:27
skating to where the Puck's gonna be not

52:29
skating behind the puck is going Gretzky

52:31
says I mean your Amazon

52:33
um

52:34
and you're in your actually your Apple

52:36
story was about skating to where the

52:38
Puck's going to be in my opinion it's

52:40
about if you looked at the last year and

52:44
this is what we've told our clients even

52:45
though Apple was down and Amazon was

52:47
down and Meadow is down and Google was

52:50
down

52:51
is look when this is over and I should

52:55
have been over six months ago

52:56
and it actually was over in October when

53:00
this is over this same cream is rising

53:03
to the top you can shake that bottle of

53:05
milk and Shake That cream and mix it all

53:07
in and disperse it in any but when it's

53:10
said and done and everything settles out

53:12
that same cream is rising to the top

53:15
look at Chipotle Chipotle has sat there

53:19
studiously and deliberately building out

53:22
their their mobile app

53:25
changing their menu creating healthy

53:27
food and it's going to hit two thousand

53:29
dollars and if you'd have looked at it

53:31
in the midst of this recession

53:33
depression whatever you want to call it

53:37
if you'd have panicked and sold if your

53:39
advisor yeah you've been sorry you know

53:42
let's just call let's call 2022 what it

53:46
was it was a it was a wasted year it was

53:49
it was an unnecessarily wasted year

53:51
but somebody has to pay the pennants for

53:54
all of that you know 40 Years of loose

53:57
money it's fun we've got to close this

53:59
out but I always ask my clients you know

54:01
what uh you know a mic drop moment but

54:03
you just did it which is the cream Rises

54:05
to the top I think the takeaway from

54:07
this is look at quality skate to where

54:10
the Puck's going to be think logically

54:12
and pragmatically and realize that in

54:14
time the cream is going to rise through

54:17
the top Marty I I just can't tell you

54:19
how much I appreciate you being on I

54:21
Want You Back on listen I had so many

54:22
questions listen I got through like

54:24
three of them

54:25
um I mean there's so many I'd like and

54:27
you didn't ask me you didn't ask me

54:29
what's the one thing we did right last

54:30
year

54:32
we did not panic

54:35
we did not let the media influence our

54:39
decision we did not look at CNBC and say

54:42
oh those guys know more than me which

54:45
the reality is we know more than them

54:48
there you go I'll match our portfolios

54:51
with theirs every day any day I

54:54
encourage you to go to

54:55
lighthouseretirement.com all one word

54:57
lighthouse retirement.com that person on

55:00
the other end of this podcast and if

55:02
you're watching us on the video that is

55:04
Marty parlato a very good friend who I

55:07
respect has one of the best radio shows

55:09
on the planet if you go to his site you

55:11
can listen to the replays if you don't

55:13
believe me try it and I really enjoy uh

55:16
enjoy the time with you Marty thanks to

55:18
everyone to listening to fun with

55:20
annuities a really fast growing podcasts

55:22
in this country on all major podcast

55:24
platforms and on the fun with annuities

55:26
YouTube channel I will see you next time

55:34
[Music]