Mid-Day Stock Market Stream: NVDA $150B BuyBack Increase, META Going After Enterprises transcript

How about now? Do you have sound? Yes. No. Repeat that, sir. Is there sound? Joe got to my brain. That may have been a me thing. I may have had the wrong mic on. I apologize. That's pretty damn embarrassing. Once again, still trying to figure everything out. All right, we got I don't even know how long that was. Some of you heard me, some of you didn't. Anyway, yes, I was looking at the chat, but some of you said you heard me.

I don't know what's going on. Anyway, thank you all for being here. We got a big day. Woke up to some incredible news this morning. We got Nvidia buying back an additional $150 billion worth of shares. And at the end of the day, why the hell not? When you are doing the type of cash flow that they're doing, what else are you going to do with the money besides acquire people, besides buy back shares, become a dividend compounder, all the great things we want to see.

I mean, revenue only went up 106% year-over-year, 96.2 billion. Operating cash flow only increased 57% year-over-year. And free cash flow at an 89% margin, 21.4 billion in three months. I mean, we go to trailing 127 billion of free cash flow. Operating cash flow up 74% year-over-year. Absolutely incredible. This is what we want to see. and Jensen adding another 150 brings it close to 300 billion on the buyback. Think about what that means.

At $250 billion, okay, $250, you're talking about a billion dollar a day or more a buying back stock for every trading day. So that means that Nvidia is going to be in the market. That means that they're going to be backstopping this all the time. All of the time. This is absolutely incredible for shareholders. I am shocked that Nvidia is not up more. In all seriousness, Nvidia really should be up at least at least 10 to 15 today minimum.

I don't know how it's not. This is super bullish news. We got Venture Global up to 1321. We got Howard Hughes company at 7098. Oil is trying to get back to 100. This is not what we want to say. Oil getting back to 100 is the worst thing possible. And the the big problem is we don't know what the hell is going to happen. Supposedly there's talks this week. I'm not putting any stock in the talks. I think this is a lost cause until after the midterms and don't expect oil to come down anytime soon.

Do not expect it. Can we talk about Pokemon? No, we are not going to talk about Pokemon. Go buy 30th. I don't know what to tell you. Nobody wants anything else. If Destin Rivals falls by Destin Rivals, but you know what? Cyber security, Crowd Strike, and Rubric getting after it. Nick, how are you this morning? I will see you next week, buddy. Looking forward to it. Rubric on an absolute tear. Crowd strike. Look, the valuation absolutely sucks.

There's no way around it. I hate the valuation, but no CIO or CTO ever in this environment is saying we need to spend less on cyber security. And even after announcing an additional 150 billion in buybacks, Nvidia can't break out. We are still not at all-time highs. And I think that this is a sin. I think it's a sin. I should be losing this bet to Tanner. I want to lose this bet to Tanner, but you know what? The market's got other ideas.

Maybe Jensen need to announce another 250 on the buybacks. Nike, I'm not touching it. We're gonna get into MongoDB. That's with the meta news. And I was going hard on the story this morning. So I will go over you guys get my first thoughts. I have not put anything on X about it. I have not put anything anywhere on the internet. So I will be discussing Meta here first. Starbies 9512. I got mine right here. I'm trying to help the stock.

I don't know. not doing anything. We got Costco. Insane. 929. I can't believe Costco is still up. All right, we got Apple 340. Alibaba 110. Realy income coming down. Maybe I buy more realy income 55. I don't hate that. Palanteer 188. McDonald's down again. Oh my god. Crazy. Broadcom 3.49. And it's down three bucks. Insanity. ET is at 20. We got SpaceX 147. I do want more SpaceX. I'm not sure where I'm going to buy it.

Maybe I buy more tomorrow. We'll see. Gotta wait for the money to clear before I start allocating. There's a lot of red out there. Verizon 4656. We got the googly muggly under 340. crypto not holding its own 2722 for BMR. Amazon 246. This does not make any sense at all. Microsoft big old Mr. Softy. So, what do we get from Mr. Softy? Do we go vanilla? Do we go chocolate? Do we go vanilla chocolate swirl? What type of sprinkles?

What do we get? What's the order for Mr. Softy? I want to know. But you know what? 509 is too cheap. Uber. Wow. Wow. Wow. Wow. 6836. This is crazy. And Reddit fallen. Salesforce 229. Netflix after Dark's not saving it. 6952. Zeta's fallen a little bit. Don't Oh, don't even start with this Breaking Bad number one stuff. Don't even start with this. I still can't get past season two. I have no interest in watching it. Crazy.

[clears throat] Don't be surprised if Zeta falls further. It's up a lot. We have rising rates. Even though that's not going to impact them, I am not worried about Zeta. If we get a reasonable pullback, I will be adding. IBM 219. Man, Nebia is still hanging out there. Tesla 359. Oracle, oh my god, down 3.78%. I may need to buy another block of oracle tomorrow when this money clears. And SoFi just lost 16. If SoFi gets to under 15, I think that's where I start buying again.

I don't know. We'll see. Micron 1039. Cororeweave. I put out a new article today. Big fan of Cororeweave here. 84. Look, Cororeweave can keep going down, but long term, I think it's going to be okay. QXO 1190, not surprised. Meta down 33. Get the f out of here. The market has lost their minds after what Zuck just put out today. Forget it. We'll be getting into that in about a minute. All right. AMD trying to hold up to 600.

Qualcomm losing 13 a share. All right. What do you mean? Why are you bearish right now? If you're a day trader, you get bearish. If you're a swing trader, you get bearish. Or longterm, man. These are the times you want to be picking off a great companies. So, let let's get into what the Zuck did. Okay, this is big news. I fully support this and I am super bullish on Meta. I am super bullish on Zuck and I wonder when they're actually going to talk about it on CNBC.

I'm hoping they talk about it on halftime. So, we'll see what happens. But in case you didn't see it, in case you didn't see it, basically Zuck said, "You know what? Consumer AI is great, but we want a piece of everything." So, they launched an enterprise platform and poached the CEO from MongoDB. And no, I am not I'm just letting you guys know for the next couple of minutes, this is going to be a rant. So, please do not get mad at me if I don't look at the chat and don't answer questions.

The rant is incoming and then I will get back to the chat. And you know what? We're going to address something. Great question. Need coffee for this one. Great question. A lot of people think like you, sir. If we look at where uh money market funds Fred. Yeah, this is kind of wild. So before we get into Zuck, we are going to answer this question. Ladies and gentlemen, I mean 8.4 trillion dollar in money markets, it just goes up.

A lot of people feel the same way. And you know what? If you have a tremend tremendous amount of assets, if you have 10 million, 20 million, 50 million, 100 million, maybe it doesn't make sense to take risk. Maybe there's a world where throwing 10 million in at 5% and getting 500 grand a year free and clear with no risk works. I mean, you get to those numbers, you've already won the game. So, I get it. Now, for most people, I would say 5% no risk sounds nice.

It'll compound, but you're never going to beat the market like that. And I would rather buy personally when everybody is scared and I can get a discount on great companies. I look, these are the types ofi of environments I love buying into. The reality is that when people are shook, you get discounts. And when that happens, that usually allows people to buy assets at great prices. I don't need the market to work today.

I don't need the market to work tomorrow. I need the market to work five years from now, 10 years from now. And look, nobody wants an environment where the market is just going down or flat for two or three years. Nobody wants that. I don't want that. But at the same time, I'm not scared of it because I'm a net buyer of assets. And if you're a net buyer of assets, then you should relish in that. Especially if you are investing for retirement, you're 20, 30, 40 years old.

I mean, let's be honest. If you're 40 and you're maxing out your 401k, you got 20 25 years till retirement, you should not be worried about the market going down. So, I understand the point, man, Steve, yields are so much. Yeah, I get it. I got money in ESG, but that's my cash reserve. And I do believe everybody should have a cash reserve and not be 100% fully invested because you never know when you're going to need cash for something.

You never know when you're going to want to buy more. You never know we're going to need to do something. You don't want to sell assets and take a taxable event. No. So, I get it. So, if you said to me your cash stockpile, yeah, I got mine in ESG. I stopped doing the CD ladder and I just put an ESG. Does really well. But as far as a long-term investment, no, we're not rolling with treasuries. We're going stock market even in the face of adversity.

Rocky Balboa always got up. So the US economy and the US market and quite frankly I think Q3 earnings are going to be insanely good. >> I don't know why we would be in an environment where people don't believe Q3 earnings are not going to be great. They're going to be really good. So that's my piece on that. So, let's now move into what I wanted to discuss. And what I wanted to discuss is Meta because Zuck came out, he dropped the hammer, he dropped the gauntlet.

And he just told the world, okay? Just told the world that he is calling the next major pillar of the business. And it's not just ads. It's not the metaverse. And it's not a consumer app. And I think this is what people are getting wrong. And the fact that Meta is down so much today, really crazy because Meta is now going after the enterprise, which means it wants to sell AI models, AI agents, coding tools directly to corporations and developers the same way Microsoft, Amazon, Alphabet, Anthropic, Open AI do.

Zuck went out and he hired the sitting CEO of MongoDB, CJ Dassi, who resigned effective immediately this morning after less than 11 months on the job. So [ __ ] shares getting crushed on the news and Zuck is coming guns blazing. He's the huckleberry. He's Doc Holiday in Tombstone. And the new business unit is actually called Meta Enterprise Platform. And Zuck announced it this morning. The funniest part about it, how do you announce it?

OnX in Elon's face on a platform that he owns, not threads. Absolutely incredible. And the initial product lineup has four pieces. I'm going to go through each one of them. First, Muse Agent, which is Meta's personal AI assistant that launched on September 8th and has already climbed to number one on the iPhone chart. Second, Meta Business agent launched in June lets companies build and deploy consumer and customerfacing agents inside of WhatsApp, Messenger, and Instagram to answer questions, book appointments, and close sales.

Then Muse API which is going to give developers direct access to Meta's Muse Spark models and Meta says the API is compatible with OpenAI and anthropic style interfaces so developers can swap it in without rewriting their code which is actually pretty wild and I think that this is bullish for everybody in every business because OpenAI and Anthropic are going to have to lower their prices. The fourth is Muse Code and I'm going to have to try it.

So, it's Meta's competitor to Claw Code, which I sent emit a picture this morning. I am proud to say that over the past 10 days on my new computer, I have done Hold on. I don't want to give you a bad number, so I'm going to read it from the picture. 39.8 million tokens over 10 sessions, 26,053 messages I sent. So, I am getting after it now. If Muse API and Muse code are really that good, I'll give it a whirl. And under the hood of all this is Muse Spark coming out with new versions.

So I'm super excited about this. And look, stealing the CEO from MongoDB is a huge deal. And that's what I was reading up on this morning. So Dassi joining as the chief enterprise platform officer is super bullish. This guy spent 25 years selling software to large companies. And that's exactly the skill set that Meta has never had in house. This guy's got the connections. He's got the reputation. He can get his foot in the door.

And now he's backed by one of the largest companies in the world. He was president and chief operating officer at Service Now where he helped scale the company organically from 1.5 to over 10 billion annualized revenue. After Service Now he ran product and engineering as the president of Cloudflare. Before that he had executive roles at EMC and Semantic and he started his career at Oracle. This guy has been everywhere.

He's seen it. He's done it. He's forged the relationships and Mongo's MongoDB's board hired him last November specifically because they wanted a leader with deep expertise in cloud infrastructure, AI, and enterprise software. And this matters because when you think about what Zuck did with Alexander Wang and you think about the money Zuck is throwing around, he's not stopping. He's going to deploy this type of money on the enterprise side.

And once again, Meta is going to be a force to be reckoned with. And I swear if Meta goes back to 600 or below, it likely is going to be a generational opportunity. Now, I don't know where it's going to go, but I think it becomes a generational opportunity if we get that type of a drop off of this because I think the market is reading this absolutely incorrectly. And I don't believe Zuck's hiring a Prague visionary here.

I think he's hiring somebody who's already built 10 billion plus enterprise software markets from scratch. And I think that Meta is really getting after it. And they're on pace to spend between 130 and 145 billion on capex this year. This is their response. This is their response. Okay, we hear you. We spent all this money. Check out what we do next after having the foundation. It's not just the hardware. It's not just the tech.

You need the people, too. And they're they're getting the best people. So, investors have been asking the question, where are they doing with the money? Man, we just got the answer. And I think this backs me up on Muse will become bigger than Instagram over the next 10 years. And now that they are putting together this enterprise side, which they didn't have yesterday, oh my god, let's get after it. Let's get after it.

Zuck is basically telling everybody he will burn the bridge he stands on to show everybody he's not afraid to swim. That's the type of CEO I want to invest in. That's the type of CEO I've been invested in with Meta and the type of CEO I've publicly backed with 38 articles since 2018. more bullish today on Meta than I was yesterday, than I was on Friday, than I was a year ago. And I don't think there's a bare case on this.

Want to know why? This is Meta's game to take. They don't need to depend on selling tokens. They don't need to depend on any of this. They are paying for this out of their advertising business. This isn't anthropic and chat GPT being a onetrick pony. Meta has got many verticals. And now when you think about the enterprise side on this, they can also entice enterprises with, hey, you sign up for this, we're going to throw in x amount of advertising.

We're going to throw in this. We're going to throw in that. We're going to layer this in. Man, I am so excited about this. H can't say enough good things. Now look, can Meta Stock go down? Yes. Can they get into more lawsuits? Yes. Can the DOJ try to break them up at some point? Yes. Those are all things that we need to absolutely take into consideration. But I think the bigger thing to take into consideration is that Zuck doesn't lose.

Zuck has been at the helm for a very long time and he continues to pro prove he knows what he's doing and he's willing to hire great people and trust their vision to help grow Meta and that's incredible. I agree. Love him or hate him. Zuck is the CEO you want. He's the CEO I want. I can't think of another CEO that I want at Meta. It's absolutely incredible. So, let me know in the comments what do you think. Are you happy with Zuck?

Because I am. I am super excited with Zuck. And I think that Zuck is just an incredible CEO. And I think the market's wrong. Let it go down. You're not going to hear me complain about Meta going down >> because if it continues to go down, I will buy more at some point. Zuck equals results. I agree, Ricardo. Thank you very much. Yes, there was three minutes of mute this morning. I screwed that one up. Tomorrow there will be no mistakes.

I think I've worked out every freaking mistake already. Well, I love comments like this. Not sure why people like him so much. He was just a programmer, not a CEO. Cool story, but here is the actual data behind it. Alrighty. So, not CEO. Okay, I hear you. I see what you're doing. Not a CEO that basically since 2016 took revenue from 27.6 billion to 201 billion. So from the 2016 fiscal year through the end of 2025, revenue is cagered at 24.7%. and they've generated over a trillion dollars in revenue over this period.

Year-over-year in 25 revenue growth 22% 36.5 billion. But I guess that's not a good CEO. I guess if we look at on a TTM basis, not a good CEO, right? So Q2 2017 33.2 billion. Q2 2026 228 billion. 23.9% Kagger. I mean, not a good CEO, right? Uh, he sucks. He's horrible. He's the worst. People hate him. They hate him because they don't understand numbers. They don't understand that, huh? Maybe IDA is going crazy. Maybe Cash from operations is going crazy.

And this is the best one. Everybody complaining about, "Oh my god, Zuck is spending so much money." Can shut the [ __ ] up. Please just shut the [ __ ] up. Like, you guys don't get it. Yes, since Q3 2016, okay, he has spent $287 billion in capex, but you know what? He's generated 588 billion in operating cash flow. That's 301 billion in free cash flow over that period with spending aggressively. Let me make this a little bigger for all you so you can see it.

Yes, he is spending a ton of money. But guess what? What's happening with cash from operations? It's going up and to the right. And I will I'm I'm not gonna apologize. I will back it because without what he did with the metaverse, we would not be able to do Muse today. And the reality of the situation is 301 billion in free cash flow is a feat that a handful of people pull off. And Zuck is one of those handful of people.

So for all you thinking he's not a good CEO, you're just wrong. Period. The numbers do not justify what you are saying. And this is why Meta gets put in this weird position because so many people think he's a shitty CEO when he should be on the Mount Rushmore. Period. How much did he waste on the metaverse that didn't contribute to Muse? It doesn't matter. Are you not looking at this chart with where operating cash flow is in capex?

Let me make it even easier for people who don't understand how to do a simple subtraction. I will just put free cash flow up. Huh? Huh? 301 billion over the period. Huh? You think that they're not able to spend or afford what they're doing? Yeah, they can. And I don't care about what Zuck is spending right now. What I care about is where this company is going to be in five or 10 years from now and making the right investments today to fortify the future.

So, there is a lot of stuff to really think about before you start calling out Zuck, before you start calling out Meta. And this guy's a killer. You don't want to be on the wrong side of what he's doing because Zuck plays for Kee. If you don't like him, don't invest. Nobody's got to invest. That's fine. I like making money and my opinion is that Met is undervalued still to this day. And if we look at this on a forward basis, uh it's in my compare.

There we go. All right. Um, why did that not work? Is it not there? Did I move it? No. Isn't earnings? No. All right. Well, this is a problem. What the hell? I shipped something on this platform and now I just lost my forward EPS. God damn it. Now I got to reconstruct this whole thing. Oh, Steve is not a happy camper. When I start talking about myself in the third person, that's not good. I start pulling a George Castanzer.

All right, hold on. Maybe I moved it here and I didn't. Not good, ladies and gentlemen. Not good at all. Well, I guess I can't uh show everybody the comparison that I did last night. because it's no longer here. Don't trust AI sometimes is the best thing I can tell you. We will get this fixed, but we we will look at on uh seeking alpha. How about that? All right. Um going forward earnings They're expected to do $30.97 this year in EPS.

They traded less than 25 times forward. And then in 28, $41. I mean, come on. 18.3 times forward earnings is absolutely crazy for a company of this stature, a company of this quality, and a company quite frankly that is still to this day growing revenue by double digits. Crazy. Castanza, can't stand you. Love it. Is there a full moon? Oh my god. is there. I shipped something last night and I must have shipped the wrong thing and it did something.

So, I gotta now backtrack and figure out what it is. But this is kind of wild with Meta and I don't know why people continuously don't like Meta's numbers. It doesn't make any sense whatsoever. But let me know. Are you guys willing to purchase Meta here? Yeah, Nvidia is a super buy. Give me one sec. Let me see if I can share something like this. Why does not that not share like that? Okay, interesting. Nvidia is one of the biggest buys in the market right now.

My opinion is that Nvidia is too inexpensive. It trades at roughly 11 times forward. And I just think that we're in a situation where the market doesn't want it to be more than 8% of the S&P. The professor, I'm not gonna knock anybody for taking a profit. Taking a profit. Nobody ever got hurt. I absolutely agree with that aspect. There is nothing wrong with that. Now, when it comes to Nvidia, there's just so many good things happening.

And I mean, we're we're likely about to see 100% again in Q3 revenue if dropped to 600. I mean, yeah, listen, waiting for a dip is good. Do I care about his moral compass? Absolutely not. I care about him making money for the company and making money for shareholders. So, corporate dictatorship, all good with it. I don't work there. I don't care. I'm an investor in the company. You know, if it that's the easiest way to miss out on making money is caring about how a company operates internally. like that.

Zuck started the company from his dorm room. He deserves to have founder shares. He is the founder of the company. So, I kind of don't care about somebody's opinion that he has no moral compass. All good. All good. Don't invest. I will. I'll buy the shares you were going to buy. How about that? All good. Absolutely all good. No problem. Now, as far as Nvidia, I think that we're at a point where they are absolutely going to keep selling chips for a very long time.

And I think that we're just in a world where we don't know when the capex cycle is going to stop. And whenever that is, it may not be for a long time. That to me that's one of the biggest things because nobody can predict what is going to happen. I can't predict it. You can't predict it. None of us can predict it. What we do know is all these companies are expending aggressively and nobody is telling us that they're slowing down anytime soon.

I think Nvidia is at an interesting place because we do need more data centers. We are an AI arms race and the numbers for Nvidia continue to look incredible. If we look at where the street has them 90% revenue growth this year, 65.89% 30.85% 85% 2029. I mean, this is not a small amount of analysts. You're talking about 53 analysts this year, 58 analysts the following year, and 38 analysts for their 2028 fiscal year.

Insanity. If Nvidia gets there, and by the way, there are eight analysts predicting over a trillion of revenue for their 2030 fiscal year, which is really the 2029 calendar year. That'll that could be more than Walmart, actually. Hold on. Walmart. That's more than Walmart, by the way. They're expecting Walmart I mean they're expecting Nvidia to do more than Walmart in revenue. That's insanity. Now maybe they do. I hope they do because I got a lot of Nvidia relative to my portfolio and it's just a company where at their margins, let's really do the math.

At a 50% margin, they do 205 a.5 billion of free cash flow this fiscal year. They do 341 the following year and then the next year they do what like 443 and a half. So man, what do you do with all that cash flow? You buy back stock. Super excited. And I just don't think these companies are going to stop spending on it. I just don't. I think that we have so much capex ahead of us. Micron, we look, it seems like we needed Jensen to validate the hyperscalers.

We needed Brocom to validate Jensen and now we're just waiting on Micron for Wednesday to come out and say, "Look, we signed another 10 strategic agreements. We see pricing demand absolutely going crazy. We can't produce enough and we are going to be supply constrained for years. I mean in that environment what are we going to say that Nvidia is not going to do well? I mean look taking profit becomes worth it whenever you need to take profit.

I mean that's a very personal question. AB thank you very much. Thoughts on connectivity plays? I don't follow the connectivity industry. It is very important. I care more about networking. I like Cisco and Fortnite. I I don't follow the pure play connectivity stuff. Insight. Thank you so much. Let Metaf free cash flow do the talking and grow. Yeah, free cash flow is not going to be good this year or next year. That's fine.

But it will absolutely go gang busters in the future. No, I'm not running that poll. Fortnite gang, baby. Fortnite. What a great company. What an amazing story that's been. Absolutely amazing story. I I agree. I think AI needs some trust. And when we think about where this is going, I think Meta is putting up the right guard rails. I think that Meta really is doing all the things they need to do. >> All right, hold on.

Let me try to share this. Oh my god. For some reason, I can't share CNBC the way I used to. I don't know why it comes in like that. That's very annoying. Sorry, I'm reading the StreamYard stuff. I'm going to have to ask Emit. I guess I can't stream it. I don't know what I did. Apple doesn't want to let you share something that's streaming the way that you can on Windows. So, I'm not really sure what um what that is. Oh, I I think I figured it out.

Hold on. I guess there's something uh that I got to click on the browser bar. One sec. No, that didn't work. I clicked always allow on StreamYard. Um, damn it, CNBC. I don't know why I can't stream it. I apologize everybody. No good. Easy fix. Plug in the old computer. You know what would be the easy fix? If my old computer was anywhere near me and not disconnected. Apple to zero. Oh my god. Apple to zero. No, I'm not restarting the browser.

I should be able. So maybe any of you can help. When I click share screen and I click allow to share screen. Okay. Oh, I'm sorry, share window. And I click on the one where I have CNBC. It comes up as blank. And I can't see anything for some reason. Like it's almost as if something's blocking the image and I don't know what it is. Am I still holding palenteer? Yes, I am. No, it's not protected because when I stop the screen sharing, it comes back and you can do it on Windows.

So that it just doesn't make sense right now for Disney. >> All right, let's try to do a video. Let's try it this way. Yeah. So, the same way that I'm doing it from CNBC's That's so odd. It must be a setting. It's got to be some crazy setting that I need to find when I'm not live. But it is what it is. It is what it is. cuz I guess I have to wait for it to come out on video before I show it. You know, let's uh I do want to see what they had to say about the buyback.

I did not get to see this. And Jensen was on CNBC talking about >> AI sovereignty. So, let's see what he has to say about this. And you guys are gonna have to let me know if they're sound or not. No sound or sounds low. Jesus Christ. Oh my god. All right, hold on. No sound at all. Jesus Christ. All right, that's very freaking annoying. All right, give me a sec. It's showing that it is sharing with sound on my end. I do have PC blood in my uh veins.

Hollis, that's going to be uh a today project that I'm going to vibe code a agent to help me just do everything because for some reason this is not sharing with sound and it's very freaking annoying. All right. One sec. I guess we're not getting any video today because I don't know what settings are impacting this. This is so annoying. This is completely frustrating. All right. Is what it is. Yes, I do need a uh tech support company.

I guess I'm going to have to build one today. All right. So, where are Wow. Howard Hughes up 5% today. Wow. Nvidia 232. Woo. You know what? Let's call Captain Sleepy Time. Let's see how he's feeling this morning about this. Hello, >> Nvidia 232. How you feeling? You're live. >> I'm feeling good, man. Very few companies are uh are green like Nvidia today. And how did you feel about the buybacks this morning? >> It was uh it was nice, but um you know, they're a super big company, so it's not like uh face ripping or anything like that.

I mean, we expected this. If no one's going to buy back Nvidia, they will. But you need a lot of money to buy back a5 trillion company. >> Well, they're what 275 billion of buybacks now for the next 18 to 24 months. Uh, I think it's closer to like 235 because they've done a lot, but I need to check that. >> Okay. >> But yeah, it's it's uh I mean, we expected it, right? Like, do you find that surprising? >> I expected it.

I am just super excited about this. >> Yeah. I mean, uh, feels good when a plan comes together, right? >> It does feel good when a plan comes together. >> Um, what's it called? I'm uh researching the crap out of New Bank right now, so I got to let you go. >> New Bank. >> Um, >> New Bank. You know everything about this company. I don't know why you are so obsessed with New Bank. >> They just made, if you take [clears throat] a look at their stock, they're down like eight or nine% right now. um they just put out a huge huge story.

So the market is tackling with what this means for the company going forward. >> Okay. Is it good or bad? >> It's mixed. It's their boldest play ever. They're making a massive massive massive acquisition. >> Okay. What >> in early talks to make a massive acquisition. >> What is the acquisition? >> Monzo. What is Monzo? >> Uh, one of the largest fintexs in the UK. >> So, they're going Europe now. >> Oh, yeah. >> Yeah.

So, basically, you're more bullish than you were. >> Well, uh, I appreciate the eight or 9% discount, but I mean, they don't have the money for this, so, you know, might have to be a little bit of dilution. Um they uh I think investors were expecting a much more mature approach which I don't know how many times Davidid Vez said that we are not a mature bank but they started to do buybacks and these sort of things and now it's looking like if they go through with this Monzo deal that buybacks are getting cancelled uh you know it's going back to growth on margins will take a hit.

They're just acting like a very very young company, you know. I like that. I don't want to own a maturing bank. And I know that people say like, Tanner, you know, you're buying all these boring companies. New bank is proving that they're anything but that. And I I think the market like you'll see a shift in who is buying this company. It'll be less uh bank investors and more people who believe that the the state of financial services in the future will be owned by tech companies, not large incumbent banks. >> Interesting.

All right. Well, you do your research and uh I'll talk to you later. >> Yeah, brother. >> All right. Later. >> Wait, wait, hold on. >> Yeah. >> Are you getting nervous >> about what? >> 50? >> No. I want to buy you dinner. No, no, no. But are are you thinking that you will have to pay me? How about that? >> I think there's a better chance that I have to pay you than you have to pay me. >> All right, that's that's fair enough. >> I mean, >> excited about that.

It's It's a win-win for you. >> Yeah, I am excited about it. And look, the reality is if I said that there's a better chance of me winning, I think that would be very naive because the buybacks on top of another stellar quarter like Invidia's fair value to me is over 300 at this point. So, it would be crazy for me to >> they want everybody in the chat, not everybody, people are saying they want me to double the stakes.

Don't worry, there'll be another bet in January. Don't worry, I love gambling. So, all right. Talk to you later. >> We need to pick a really nice restaurant. I >> mean, I don't know where you think I was going to take you, but it wasn't going to be somewhere shitty. >> No, no. I I I agree. But, >> all right. >> Let's start calling the places with long wait lists. >> We don't need to make phone calls to the restaurant.

I can make phone calls other ways to get in places. Don't worry. >> I forgot. I forgot. though. >> We own half the restaurants down in Manhattan anyway. So if they know the Porello crime family showing up table. >> Well, we know people that can get in places. That's all. >> Yep. >> Anyway, >> you you break their kneecaps or something. What's the proposal? >> No, nothing like that. All right, Tanner. >> You don't have to because you >> I will talk to you later. >> All right.

See you. letter. New bank. Not something I'm going to be researching. I'm not into it. I did look at I did listen to the interview that Tanner gave me. I'm just not a fan of New Bank. It is what it is, man. Nike. I can't do it. I am not a fan of Nike. Fortnite 17554. Absolutely insane. No good. Taiwan semi. Big fan of it. You know what? Where are we on the combine? Hold on. Is there anything I can snipe? Let's see. I have not checked this in a while.

All right. So, Tanner's still in the lead by a wide margin. What does he have, man? Good thing I got rid of Uber. He's got so many good positions that are just doing so well. Crazy. He's not going to get rid of those. I do want to deal Taiwan semi, but I don't think anybody wants to take it from me. Does Matt have anything? I would take SoFi from Matt. I would definitely take SoFi from Matt for Taiwan semi. SoFi down 9.77%.

I would absolutely do that. What does a MIT have? A MIT may be interested in Taiwan semi Google. Huh? What do you guys think? Taiwan semi for SoFi. What do you think? I like Broadcom here. I I am very bullish Broadcom. Let me know in the chat if I should try to get rid of uh Taiwan Semi for SoFi, man. Apple 10976. Palunteer so freaking good. How good of a company is Palunteer? Incredible realy income 5525. What about Oracle?

Yeah, hold on. I have Oracle. I'm not getting rid of it. It's one of my biggest losers. I agree. I think SoFi is bombing also. You know, this just doesn't make sense. Amazon at 247 just doesn't make sense at all to me. This trades at such a low valuation. I mean, put in the chat, what do you think about Amazon here? What am I getting wrong about Amazon? That's what I want to know. What am I getting wrong? If any of you have something that can make sense about why Amazon's not moving, I am all ears.

Absolutely all ears. And I do agree that Bezos needs to get out of the gym and out of Blue Origin and get back to Amazon. Maybe that will absolutely help us. Mr. Hawaii, it may be a 2028 winner, not 2027. I I I'm just Look, a trillion revenue in 2028 is likely to happen. They increase margins. Great story. So, I just don't know why it's not moving now. low margin. Yeah, 13.6 I mean 13.6 margin is low but it's up from about 9.8%.

So we'll take that. And if we keep getting growth, to me that's the most important thing because you keep adding margin, you keep growing revenue, you increase operating income. At some point, the market's got to give it a better multiple. Agent Commerce, I don't know that that's really going to impact them. Now, it may have an impact on ad revenue. We'll see. But Amazon has been one of those companies that just has not outperformed the market and it's very disheartening.

Trades at a very low multiple. It's below the 50-day. SoFi is a difficult one. Look, you guys know I'm a SoFi defender. You guys know I'm big SoFi ball. The problem with SoFi is rates. The problem with SoFi is perception. The problem with SoFi is that the market thinks it needs a low environment for it to flourish. What we need is people to realize that even in a high rate environment, SoFi can do well. And look, a high rate environment, okay, can make individuals unfortunately compound debt quicker.

So then when a low rate environment comes in, SoFi can actually really flourish because more people need to refi. I am super bullish SoFi, but man, it's going to take some time. I'm not personally adding at these levels. I would add in the future, but anytime I add, my price per share goes up. I don't know what you're talking about. I didn't meet you at Starbucks. I did meet somebody on the street the uh about a month ago, which is kind of cool.

But yeah, SoFi is uh look, get ready for it to go down. I think it deserves to go up. We're going to get earnings in a couple of weeks and I think earnings are going to be really good, but expect SoFi to be in a difficult spot for the next month or two. Am I still bullish Drake May? I may have made may have made a mistake on Drake May. We'll see. Hopefully I didn't, but we may have made a mistake. And I think that we just need to wait and see with SoFi.

I like McDonald's here. The fries are amazing. Everybody loves a good Big Mac and 3.4 3.3% dividend yield. I mean, 49 years consecutive dividend growth, earnings compounder. I like it. I'm very bullish Oracle. If you follow me on X, I've been tweeting about Oracle over the weekend. If you follow me on Artemis, I have been bullish on Oracle. I mean, it's just one of those companies I really believe is misunderstood. I am not worried about OpenAI not being able to pay their bills.

I am not worried about Open AI defaulting. And I'm not worried about the RPO being tied to OpenAI for 45 to 50% of the book. Oracle is delivering on capex turning into revenue with a good percentage of cash from operations being generated. So I don't know what to tell you. Oracle 130 I love. It's a great story for me. now may not be for other people, but I think it's going to do really well. Yes, I still own MC I still own Palanteer.

Yes, those burgers don't mold. Um, for me, look, I think Zeta is going to be a much bigger company in the future. I have a very low cost basis. I think my cost basis is like 1680 or something like that. So, personally, I am not Oh, Matt, Maddie, Matty, Matt, hold on. Pick up your phone, Matt. Why do you think you're good with me? >> Shook Baby Inc. I have a trade proposal. >> Oh, really? >> Yes. >> What's going on? >> I will trade you Taiwan Semi right here, right now for SoFi. >> You want SoFi?

I want SoFi. >> Why would I give you Taiwan Semi for Sofi? >> You wouldn't. I would give you Taiwan Semi for Sofi. >> Yeah. Why would Why would you do that? >> Because I want SoFi. >> So do I. That's why it's in my portfolio. >> You see, he doesn't want to give it to me. I don't know. I I think I'm making him a fair trade. >> I mean, you obviously are very bullish on SoFi, so that's why you want to trade. >> I am bullish on SoFi.

I'm also bullish on Taiwan Semi and I can't just deal you a [ __ ] company. So, I got to make the trade worth it. I think Taiwan Semi is a great company. >> Let's see. [snorts] So, if I down or is it up? Let me see. >> It's down. >> What are we at? I might need to buy some. How's How about new bank going below 13 bones today, Steve? >> Yeah, they're make trying to make an acquisition. >> Oh, man. Even SoFi is below 16.

At some point, ladies and gentlemen, these companies are just too cheap to pass up. At some at some points, the market can be irrational and you have to take advantage of that irrationality. >> Are you going to be taken advantage? >> Uh, depends on what what manner. >> It sounds like you don't want to do a trade. >> Let me see. Taiwan semi. >> Yeah, I think I think I'm Aren't you doing You're doing pretty good with time off though, aren't you?

Aren't you up on that? >> No, not really. >> You're not even >> somewhere there. Yeah. >> No, I want Let's see what hot Steve's got. like, >> "Oh, he's looking at the uh portfolio right now." >> You never know. Stock combo. >> Why isn't it pulling up? >> They finally outlawed it at work. Stephen, >> it's combine.com. You're not allowed to go there. Yeah, they outlined they uh they banned it at work. They they finally your your website got so big that it came on the corporate radar, I guess. >> There you go. >> You're moving up in the world, Steve.

Actually, now I'm kind of curious. Let me go. Let me see if they found out about now.com. Shout out now.com. >> Do you want me to show you on screen what I have in the portfolio? Uh yeah, let me put this on mute so I don't annoy my co-workers live. Okay. Yeah, but Steve, good information for you. Nowflation.com has not been outlawed yet. >> Nice. I like it. So if you look at the screen, this is what's in the portfolio.

Matt, my guy over here was Baba Uber. No, I don't own Baba anymore. I got rid of it. >> Oh, that's right. >> You got rid of Uber? >> I traded for QXO, >> Steve. Oh, okay. Okay. I like that. I like that. I mean, if this whole I mean, QXO, like while we're on the chat, if there's some sort of pivot and oil comes down and and war ends up being like, oh, we shouldn't be at, you know, five or whatever percent interest rates.

We should actually be, you know, cutting it or staying staying flat. QXO is going to rally like a like a mofo. Let's see. We got Core Weeze, NP, Oracle. Well, other than TSM, what what are you thinking? >> I really want to I don't know. What do you want for SoFi? How about that? If you're asking me what I'm thinking, you must want something. Where's Netflix? I thought you had the bottom on Netflix. I'm surprised. Isn't it below 70 bucks today? >> It is.

Or it was. >> No, still. Jesus Christ. Trading at 22 Ford PE and they're buying stocks like a I mean, how much more can it go down? I mean, always can go down more. >> Yeah, I'm not looking at getting out of the Netflix business, but I am looking to move Taiwan Se. >> You're better than me. I got it. Uh, you're looking to move Taiwan. Riddle me that. Why Taiwan Semi but not Netflix? >> Because I don't want to take a 10% loss on Netflix, but I'll take a 1.71 on Taiwan Semi.

See, I think I'm also in the same boat with you on QXO as I am a SoFi that if the positioning of the Fed ends up becoming less aggressive on raising rates so far, I think it'll rally to 20 bucks and that's a 20% increase from here. >> I get it. Let me see what else you have. Hey, what else? What else we got? See, >> I'm hammering. >> I mean, I'll take Amazon off your hands, >> man. See, the thing is with Amazon, Steve, is it seems like people are being shook by the fact that it's underperformed the market for the past five years.

Uh-huh. >> And I think people are starting to get paperhanded, which makes me feel like there's about to be a a significant move in the next two quarters with Amazon. >> Okay. >> And I know Chris Camilo would agree with me on that. >> All right. Well, if you want to get out of the SoFi business, I will take it off your hands. >> I'm new. No wonder I'm hemorrhaging cash. I got New Bank, too. >> New Bank's only down 2% today or since you took it.

I discard SpaceX. >> Do I have anything else I'm willing to give up? Any interest in Next Era? >> No, I took Pepsi as my dividend company. It's down. I'm not taking Next Era. >> I think Next Era is in the same, but it's interest rate dependent because they have a lot of debt. >> Huge amount of debt. >> Yeah. What does it have? Actually, now I'm kind of curious. How's that look? You've written an article lately. >> Oh, next.

Not recently. Not since they were trying to acquire Dominion. >> They're down at 75. They were up about a hundred bucks earlier this year. >> Yeah. I mean, I'm a fan of them. I just I don't know. Right now, >> Steve, >> not the time I want to be. Their PE is and that's going to be artificially high >> because of the depreciation. I wonder what the price to ops cash looks like >> for next year. >> I mean, right. Yeah.

Because you know that they just invest invest invest and then they're huge infrastructure. So like that is going to have a huge depreciation lens on it which is going to artificially lower the gap net income. >> Yeah. >> So I'm curious what the price ops cash looks like. They trade 11.4 times Cash Mocks. >> My god, I might need to buy some. And it's at 3% dividend. There's some good buys out here today, Steve. >> There are some good buys out here, Matt. >> So, new bank, like if you're preparing for there's a pivot in the Fed position, >> which there's not going to be, but okay. >> You don't think so? >> No, not this year.

Stephen, if oil comes to him, >> I am done believing in the Fed. >> Stephen, >> I am done. I have no faith. >> Also heard a little rumor. >> What was a rumor >> that you're a good man? >> It that is a rumor. >> That's not reality. >> Definitely a rumor. But >> you get a new Mac and you you change the camera angle. >> Um, I got a new desk and changed the camera angle. >> Where's Graia? >> Uh, on my right. >> I don't see him. >> Uh, Chelse is so nice.

Thank you, Chelse. All right. >> Oh, he's a great man. >> All right, Matt. Well, we're gonna let you go, but if you want to do a deal for SoFi, you need to give me a call because I want to be in the SoFi business. >> I might enter in the SoFi business. My personal portfolio being >> damn bones again. >> Matt is looking at buying SoFi. Look at that. >> What would What would I sell this Steve? I got what out of out of Amazon, Microsoft, Google?

Oh, if I say Rock Lab, you're going to say sell all rack lab. >> Get all Get out. Say bye-bye Rocket Lab. >> That might make you one of the biggest shareholders in SoFi if I were to make that. >> Oh, look at you. >> Considering SoFi is what, a $20 billion business? Where are we at? >> Yeah, you should uh consider getting involved. Yeah, 20 billion dollar business for a rocket lab is probably still 50. No, >> I mean it wouldn't suck. >> Where's roughly at 43?

So technically I would own double the amount of the company. >> I'm gonna see I wanted to make that big of a splash. >> All right. Well, you think about it and uh I will take SoFi off your hands. I mean, it's a 1608. You don't want to hold this going down to 15, Matt. You want me to hold it. Let me be stuck with it. You got Micron reporting on Wednesday. That could help Taiwan semi out a lot. >> Don't use your shout out my tricks on my >> I'm just saying it's reality.

Vicron, they report on Wednesday and you don't want to be in the SoFi business when you can be on the Taiwan semi- business. It makes sense. Micron's going to come out and say they're supply constrained. Taiwan semi is going to feel the love and then you roll into earnings season and the MAG 7 are going to all say we're computed blah blah blah. All roads lead back to Taiwan semi. Sir, >> I'll I'll uh I'll consider it >> if I have a an Apple payment on my phone for $1,000. >> An Apple payment.

You want me to pay you to get a company? Wow. >> And the publicity of of winning >> Okay. >> Stock draft is is immaculate. I don't see any payments coming through yet. No, that's because uh I I am talking to you and not going to Apple Pay, sir. >> So, >> when's when when's website payment coming? That's the real question, >> you know. I don't know. We'll see. >> We will see. >> I need a little I need a little juice to to get rid of SoFi. >> Well, I guess I'll ask you again when SoFi goes down to 15.

How about that? All right. Yeah, maybe I'd be more enticed to to lock it in >> and then I could be like, you could have got out of it at 16, but instead it went down to 15. >> I'm cautiously optimistic. We have until June of next year. Optimistic there will be a repositioning of the Fed's agreement. I think the housing market is continuing to take a tumble. I'm seeing more and more for sale. At least maybe I'm um maybe I'm biased by what I'm seeing here in Houston, but a lot of price cuts, especially now that we're in the out of the prime home buying season coupled with the rising interest rates.

I think it's going to be tough. So, I think that that's going to start to to have a huge impact on uh on people going forward. >> Okay. So, we're already seeing a large proliferation across a lot of a lot of I mean, we're talking about SoFi, New Bank, QXO, a lot of lot of big companies. Home Depot. I mean, we're seeing a lot of big companies that are massive uh contributors to the GDP of America really start to get hit.

So, what whatever you think, Matt. Whatever you think. You're a good man, Steve. >> You're a good role model. >> You're a good role model. We'll talk to you later and hopefully uh you come around and want to do a trade at some point. >> Well, think about it. I'll I can't wait to tell you that I was wrong and you were right whenever this comes around. >> Well, one of these days, Matt, one of these days. >> Did Did you Did you How was that?

What? You gotta send me the picture then. Oh, okay. >> That steak was phenomenal. >> Did you pick the restaurant or did Hollis? >> I picked it. >> Oh, I was wrong. >> I picked it. >> I was wrong. I said because it's Snake River Farms. I would not be surprised if Hollis asked Gemini, "What restaurant has Snake River Farm made?" >> It was approved. Looks over. He's like, "Great choice. This is probably the best the top." I don't know if he said top three, but he definitely said top 10. >> I mean, it it looked amazing.

So, >> I was I was upset. So, the first bite I took, I was like, I don't know. And then when I got into the It was just an edge piece. When we got into the center of that thing, Steve, >> Hollis is saying you picked a great place. >> Besides, tell them about the sides, Hollis. >> Well, the sides, >> listen, I got bail money for all you. When you're hanging out with Hollis, you always need a friend that has bail money.

He's a good guy. He reminds >> Oh, he's the best. >> I can understand exactly why you guys are puppies. >> He's the best. You just got to be careful with him. >> I don't know. He seems like we we uh I was afraid he was going to steal my girl. >> Listen, I wouldn't be afraid of him doing something like that. I'd be afraid of going out all night drinking with him. >> No, I trust him. I trust him. No, I'm just kidding. [laughter] >> I mean, I don't know if I can hang.

I can tell you that. He's a he's a good role model. Actually, Hollis, I need to text you. I might I might be setting up another dinner for tonight um with some other other folks. So, uh let me know if if you already have something planned or not. I'll be reaching out. >> He he just said he has a two-day hangover. So, all right, Matt. >> First, >> I will let you go and let me know if you want to get SoFi. >> All right.

You're the man. >> Later. >> All right. Well, I could not get a deal done and Matt does not want to give me SoFi. Look, we got Nvidia 231, we got Crowd Strike at 259. I still think big tech is the place to be. Very hard for me to believe it's not the place to be. Meta's fallen. Where's Meta today? 722. I mean, down almost 4% and I did while Matt was on the phone. I did fix everything and roll. I don't know what the hell happened, but everything is fixed in my system.

And look, Meta is inexpensive. 18.4 times forward earnings. That's crazy to me. There's 25% EPS growth over the next two years. You got Microsoft and Nvidia. I don't know how you don't buy Nvidia here. Look, I'm not buying it because I have a large position. I like Broadcom a lot, but it's just very hard when I see these types of numbers to think that this is an expensive market. Broadcom at 11.5 times forward and Nvidia 10.8 times forward.

Can't go wrong there. We are in a compute constrained environment. And then we got Micron at 5.5 times forward. This is a market that I don't think is expensive and I think is going to do very well. So, we'll see. We will see. All right, everybody. I'm going to get going. I'm going to try to figure out the last kinks to the system for tomorrow so we don't have a mishap. I know. I got to make sure I select the right mic.

And now I got to figure out how I share sound, which is very freaking annoying. But if you're going to go over and you're going to watch Tanner spam him with no to new bank, no to new bank. Anyway, thank you everybody. Really appreciate all the support. I'll see everybody later tonight. Have a great rest of the day.