Machine Gun Thank you thank you Ma lame shot Thank you Machine Gun got Hey okay Mission complete. Oh brother oh brother oh brother. the the mission is almost complete folks it is. Friday TG Happy Friday January 12th I Hope you had a great week I Hope you're ready to put a little icing on the cake of this week.

A couple little sprinkles here and there. uh but I hope you had a good one. Uh, we're kind of getting back in the swing of things. Not only do we have like just the whole new month, the whole new year, but obviously in the market, we're getting some inflation reports craziness in the world of Crypto, some fed talk, we're going to have the S of earning season.

Actually it's already coming out and the banks are not looking the best this morning so we have a lot going down. We have a lot going down, but before we get into all that, a little bit of appreciation for that intro. Literally literally literally literally name one channel on God's Green Earth that has better intros than this channel it it does not exists I Don't care what platform you're talking about, every platform in existence everyone is vying for for the second place everyone in this entire world is attempting if they're so lucky to get second place for the intros to the show because like it's just here in the MK like we're just that far ahead. like we're just so much Superior to every other content creator out there.

And that's just because because we have The best team, it's like to put it simply, we just like we have the best production team that you could possibly have in the world of not just find Financial media, but all of media including degenerate gambling media. Um DJ Capital that's what I would name my hedge fund dgen Capital Uh folks, we're starting early today because we get the inflation report the PPI the producer price index around 8:30 a.m. ET uh so we're going to be getting into that and we're going to hear what Rick has to say because our boy Rick always gets a jacked up for the day. So I want to know what Rick has to say? then Steve will probably pop in and then I hope they have one of those AI systems.

You know those people who don't really seem like people. They seem like NPCs who were kind of feeling themselves a little bit too much and started acting like real people. but we all know that they're still NPCs I love when CNBC brings those people on cuz we're all like ah, we know you're fake, you're not a real person, you're a robot who escape the lab and your AI system's good. but it's not that good or it's like an alien and a human suit.

Just something off about them. So I hope they bring one of those people on today and then from there we have to talk a lot about the earnings we are officially underway with earning season. Lots of big Banks reporting this morning Delta reported and also United Health Group So a little bit of health insurance, a little bit of Airlines but mainly big Financial play. So we're going to be checking out what they have to say then I want to talk a little bit about the craziness of yesterday and the trade? That I mean what? I ended up making over like 60k yesterday.

So I want to talk about that? Apparently Rhythmic had some issues so the accounts aren't improved yet. They'll get approved today after the market closes, so that's a little bit of a pain in the butt. Uh, the Discord has been crushing it thus far. This week we are 444 looking to conclude the week batting 1,000 Obviously, if you were in the Discord you paid for years and years and years of it just by the robo trades, the systematic trades, and then also my personal trades.

no matter how you sliced it, If you were playing in the Discord you made a good chunk of money. Uh, on that particular note, I do have an update there of an easier way. Like some people, people reached out to me that they're having issues getting connected and getting that all figured out. and where do they put the code so it's free? So I reached out to locals yesterday and I said hey, we have a lot of people who are highly interested in this, but we need to make the process easier and that's exactly what they did for us.

So I'm very excited to show you guys what's going on there. Happy 34 freaking months! It's been quite the journey with you and all in chat happy Fridays All You! D Jens may your calls rip and your puts fall I Love that! Shout out Camille Dude, you've always been such a pleasure to have in here. Always bringing the Good Vibes and so many of you are always bringing the Good Vibes Let's see how many names Uh MCL Ru You're always in here. but I have no idea how to say your name turl Tom You're always in here Camille You're always in here.

uh Pepe Vtv, you're always in here Trump and TX I don't know where Egg is Patrick you're always in here. Egg will probably be in here soon. Man versus Yard cam. Who else do we have? Sean Obviously Jrose Sario Once again, you're always in here.

don't know how to pronounce your name. There's so many fuzzy you're in here. Good morning, Good morning. Good morning, Good morning folks.

Good morning. Good morning, Good morning it is. Friday Friday Today is Friday Today's a kind of day Monica What's going on? Any update on Coinbase? What about it? Did something happen that I missed? sorry I Didn't really pay attention to the markets last night because Netflix just dropped the new show Breakpoint which is like in Inside the Life documentary of like highle tennis players and I don't know anything about tennis but I love the sports documentary shows I'm addicted to them honestly I Fire One up I go on stair stepper and I just learned about sports that I have no idea about from like the best people in the world. So if you're looking for a good sports related like docu series, watch Breakpoint they just came out with I think the second season there's a golf one.

there's a football one. Drive to Survive is the one that started it all. but uh I didn't really pay attention to the markets last night cuz I was too busy deciding that I should be a professional tennis player. Uh AMC to 5.6 million happy New Year Step bro, what's up? Um, there's a lot of you in here that I see you all the time and I still just don't know how to say your username so I'm like kind of afraid to do it if that makes any sense.

Are you going to follow the season this year? Uh, I'll pay attention to the gram slams for sure because especially when you feel a little bit more connected to the actual play players. Uh, it's cool. It's kind of cool to like understand who they are behind the scenes and you just feel like I don't know like you know them a little bit more. So like the way you guys have a parasocial relationship with me.

I'm developing a par parasocial relationship with them so it's just like this whole world is just a bunch of parasocial relationships. like round and round and round and round and round again. F1 Dude I Watch that that. Well, that was the one that got me addicted originally.

To be completely honest, that was the one that I was like dude I Love this stuff. Anyway, very quickly, just so you know the PPI report is coming out. uh, they're expecting an increase of .1% just for the sake of posterity. The Spy is currently at 47528, the Qes are at 40804 and let's see what Rick what our boy Rick has to say about all of this craziness? Let me make sure the volume's up.

Oh wait, what's Bill Amman Bill Amman on Campaign Against Business inside I Want to listen to this pause in this conversation because we have some data that's coming out. But U we're going to come back to this conversation. We're going to continue. Uh, to talk about, uh, the world of activism, the political prism I Want talk? A lot of this is being looked at Dei issues.

um and how you have thought about, uh, the shift in all of this. So stay where you are I'm going to, uh, become I think for next, Wednes back with Billman in just a little bit Joe Okay Rick Sandel Rick Santelli We're going to go to now. Standing by at the CME Chic We saw what happened with the CPI data. Uh, was it slightly too hot? We'll see what the the PPI numbers bring in about 5 seconds and remember Rick it's the rate of inflation Rising Now all those previous Rises we saw, we were still paying those.

so I I Don't know what the thing? Oh absolutely. it's like compound interest. except for inflation isn't nearly as much fun as compound interest. And here we go: The December read on the producer price index the wholesale inflation gauge down one1 of a% on Headline that is lower than we expected undoing the CRA Ofer little bober.

Last year we had down four t0. so even though it's good news, been there, done that in a bigger way. Energy unchain we expected and that would end up being the third unchanged on core in a row. and the last time we had a number that was lower than unchanged or Z was April of 2020 when it was down 310 X Food, Energy and Trade.

it's up 210 exactly as expected. That's a tenth hotter than the rearview mirror and the last time we were over 1110 was September when it was up 310. Better numbers here that I like to pay attention to. year over-year 1.8 on Headline 1.8 2/10 less than Expectations: 210 less 1.8 Let's see how far back we have to go to get a lower number uh 1.8 You're going all the way back to Uh pre- January of 2021 which is where my database comes up with 1.9 and that is lower.

So that is very, very good news. X Food and Energy year-over-year 2.5 That's the same as we're expecting. It was the same as the rearview mirror, but last month was move move down to 2.4 PPI Rises 1% below expectations of 1.3 is the going February 2021, but we moved one tick higher than that revision. Now what's the aftermath of this? The market likes this number Joe better than it likes CPI and I could see why.

Uh, we've moved down a couple of basis points. we're at 399 prior 396 397, we're down six on the week. on 10, we're down 11 on Europe mat and in BS they're actually higher on the week. So we're starting to see a dual speed with respect to central banks and how markets are trying to price slowing in the economy versus Central Bank activity back to you.

So if grocery prices are 30% higher than when Biden came into office and they're still going up like 3.4 um, when are they going back down, they they? That's not how it works there Jo The they never will. The what about energy pric cpias CPI Energy Oh yeah, we're over 80. We're over 80 Now Does anyone else get the feeling that Joe is like secretly like closet hardcore Maga like he always loves to insert like pretty like maybe not supportive of Trump but he loves to insert like very anti-biden comments and it's kind of funny I certainly hope is that just me? There's a lesson to learn here. I Emil you yesterday I remember clearly in 21 when Mark Fields bought all those Teslas and I remember looking at my compatriot that was in the room saying boy that's going to end up being a bad trade that is going to be the poster child of why energy price remain sticky for a long time and we're all going to be paying more for everything that Renta car deal you think that's going to trans Freedom legal Are you here yet on Rumble yeah that was uh that was something she in chat yet deciding what we're all going to be renting that.

what if they throw? what if they throw a war and nobody shows at a party and nobody shows up start the show joins us now de Merit thank you now with more what's going on Steve well you see yields are uh falling. uh Stock's doing better. um let me just preface what I'm about to say by if you're not confused, you're not paying attention And here's what's happening right now and this is what I think happened yesterday. um this PPI number which is really showing a um again deflation up the pipeline here I'll give you some numbers food down 0.9% on the wholesale level, energy down 1.2% that was up in yesterday's CPI and the trade component which tries to take a measure of profit margins down 0.8% What happens now is the PPI a lot of components feed in PC which comes out in 2 weeks.

What? I Think happen at the CPI and say well, it's a little bit hotter but let's just wait because the wholesale price story has been one unation. the PC So I think what's happening right now is for example. We went into this number with Um Fed expectations for that March cut at 69% now they're at 78% Of course this moves around, it's very volatile and that's for the March rate cut. so this is a reset from yesterday.

The market has gotten Joe very sophisticated. Now at looking at the PPI how it feeds into the Pce and then res F expect that we didn't used to talk about you used to cut me off minutes ago. gold going up at that call out gold look at that B bounce, bounce, bounce higher lows. look at that and the market Loy Breaking out phenomenal R is consolidating.

Coinbase is getting its face RI Mt Amman Extended interview continues after a break new alltime higher. an exclusive interview with Bank of America CEO Brian moan that is that report face ripped off right now you will see Rumble getting hit yesterday, hopefully bouncing back Meta new alltime High Uh 38430 Here let me make this one white so we know it's a all-time breakout U Meta seemingly gutting for an all-time high Amazon at this trend line where it's been struggling for quite a while AMC New all-time low yesterday Ibit Uh, down 86% this morning. Okay, so they're going to be coming back I Am curious what Bill Amman has been saying about business inside and whatnot? Um, we have quite a bit of time. so actually let's go interview Let's see we? what old Bill's up to breaking news.

Welcome back to Squawkbox! Our next guest is persing Square CEO Bill A He has been one of the most outspoken voices against anti-Semitism on college campuses. in America has also pushed for three University presidents to Res design. Since that Capitol Hill Hearing early last month during which those leaders were widely seen as not defending their student populations, two University presidents did resign. one of them now former Har leader Claudine gay became embroiled in a plagiarism Scandal a topic which is now touched on Amman's own family.

Um. Bill Amman is here raised in New York This is your first major television interview. Uh, since this all began. Uh, we did talk once briefly.

I Think you about what was happening? Uh, but in the past couple of weeks that was about Dei though that was about Dei. But uh, over the past couple weeks you have been active throughout on EX Outspoken on all of these issues. uh, especially as there have now. there have now been attacks against your wife around the idea of plagiarism I Want to sort of just untangle all of this because I think people are trying to understand uh, what is motivating you uh, how this all began.

The bank earnings are coming out right now, so we're going to go. that and free speech and other things as well. Uh, but you have become one of the most influential, provocative, and polarizing voices in this debate. M So let's start with where this shakes his head like he has4 billion that's a billionaire.

Shakes began before October and it began in this room. This is our Board Room at Ping Square It also happens to be the place we host was a member of literally every meeting. My dad would say Bill you're just not doing enough about anti-semitism I think it's a really important problem, you need to focus on it and I was very dismissive of my dad I Love my father, he passed away in May you dismissed your dad when he said that I I said look, the Jews are doing great I'm not experiencing I I Don't see Jews exp October and it began in this room. You know this is our Board Room at Purging Square It also happens to be the place we host our purging Square Foundation board meetings, a board that my father was a member of, and literally every meeting.

my dad would say Bill no way no way no way no way does a father ever walk into a board meeting. Every board meeting say Bill Billy Boy, you're not doing enough about Anti-semitism No father ever speaks to their son like that. That baloney that didn't happen. You're just not doing enough about Anti-semitism I think it's a really important problem you need to focus on to things that I was my dad I love my father he passed away in May you dismissed your dad when he said that I I said look, the Jews are doing great I I'm not experiencing I don't see Jews experiencing a lot of anti-Semitism and we focus on economic empowerment.

We focus on you know, enhancing people's ability to uh you know uh one acre farmers in Kenya things like this um and then uh je had surg coming and he was very concerned about it because it was kind of life or death and he wrote me three letters. One was here are my instructions if I die, you know memorial service Etc This is what I want you to do with your mom Financial State Planning the third one was like a long letter about anti-Semitism I said look bill I want my last words to you to be is before the anti-Semitism Let's talk about that second letter, the estate planning for his wife obviously Bill's mom. Imagine giving your son who is a multibillionaire tips and tricks on how to do financial planning. Honestly, that's a bit of an OG move from a dad.

Be like hey yeah, like I know you're doing your thing like you're playing in like your little Wall Street game. but this is what you should do with your mom and her money. Like what? Like what is that? What could have possibly been in that second letter that you have to tell your multi-billionaire son about finances like that? Mak Dude, that's an O that's such a classic dad move. Like such a classic dad move that almost reminds me of I was watching The Barry Sanders documentary on Amazon Prime and Sanders obviously arguably one of the best running backs ever, clearly in the top three.

and even still, then his dad would have commentary on like how to be a better running back. It's like dude you're literally preaching to like one of the best in the world. So this dude's dad is telling him how to do estate planning for his multi-billionaire son. just funny CL classic dad something you need to focus on and I didn't do anything to be honest and then October 7th happened and it was really October 8th And it was when 30 odd student Harvard student organizations.

my I'm a mo came out and said the morning after the most horrendous barbaric terrorist acts. uh in history. at least in modern history for sure. Uh They came out and said you know what Israel is solely responsible for these horrendous heinous acts And and then that was the beginning of this journey.

Yeah, and you have taken dare I say an activist approach to this. Yes, you've also been criticized for the activist approach. There's been some who have been very praiseworthy of what you have done in terms of pushing on these issues. But at the same time, there has also been a remarkable backlash.

And we're now seeing that backlash manifest itself in the attack on your wife as it relates to Um accusations. plagiarism. Yes, how has that made you feel and has it changed your view about how to approach these things? Because there's some who say this is this was really great what you were doing. but there's others who say that you have taken it to some degree too far and in fact by being such I think he's taking it that far I he should burn business down.

made it harder to get what you want I disagree. Actually I Think first of all, you're going to go out there in the public eye and you're going to make statements strong ones about issues that are controversial. You're going to be criticized. Hopefully you're going to be applauded as well.

When they go after your wife, you know that you you're making some progress. I mean I Feel very. You know the worst of this is for Ner who did no wrong. who said nothing really publicly.

um but uh, it means we kind of hit a cord if you will. look. I talked about it. You know it started with anti-Semitism on campus.

uh then then I got concerned about governance at Harvard uh not just the president, but when the board in my view didn't do the right thing. uh then I broader concerns about higher education generally. And then you know the origins of anti-Semitism on campus I think which which are results from the movement. um fun fact For those of you who don't know, uh, this is his wife Neri uh before Bill do you know who Bill Amman like kind of won her from dude Bill Amman kind of an OG Not only does his dad just give him dad math he won I guess n's marriage from Brad Pit this dude this multi-billionaire Silver Fox got Neri from Brad Pit one or out one or out from Brad Pit uh haha I don't think she did dude.

dude, you guys are missing out right here. Uh Neri Oxman's hubby sets record straight about Brad Pit dating Bill Amman addressed his wife Neri's ties to Jeffrey EP Brad Pit like no, she was dating Brad Pit and then Bill Amman The Silver Fox steps in. He's like no, no, no, no, this is this is going to happen a little bit differently. Dude: Money Matters Yeah, money matters, but it's it was Brad Pit dude like it wasn't just like some random slove on the streets, it was Brad Fucking pit Like what? Uhoh did we lose our space 30% higher.

Find a missed footnote. You are like Shakespeare everywhere. especially at MIT because you believe that's where the accusations against your wife came from. No, that's to make a point.

Okay, so just briefly on plagiarism. So plagiarism is fraud. It depends on the intent and the degree to some extent. And you know, getting back to ner right? So Nar's Thesis 330 Pages they Business Insider found four paragraphs okay where she had used words and uh and gave gave proper attribution but without quotation marks.

four and then one sentence where she missed an attribution by the way, the same person who she whom she missed an attribution for she she referenced eight other times and properly referenced that person. So again, if I'm stick with me Andrew it's important. it's my wife. Okay, so if I'm if I'm this I would disrespect my wife.

Paragraphs had attri clearly of intellectual property where nothing special about those words. it's not like quoting Shakespeare Okay, um, and there was one sentence. No one's going to conclude that that's fraud. Fraud requires like center right intent, right that she, it's not even an important part of her thesis, right? So that's that's Nary Um, the problem with plagiarism though, and the point I was making is it can be weaponized, right? We're going to know once we finish this review how many other members of the MIT faculty have this problem.

And if it's plagiarism because we find a dozen paragraphs without attribution and you know 300 other members of The Faculty That's it. Ites makes no sense so it has to happen To be clear. fist on your feel like your elbows might be a bit better, right? You have any fighters in the audience? SCH You'll hurt yourself A definition of plagiarism that's consistent with what makes sense. And by we're proving a point by Sh.

The standard is we said is you found four paragraphs and a footnote. So Ner Oxman's Uh dissertation is marred by plagiarism. And then when Ner said I they're right. There were four paragraphs and one sentence and they the next story they wrote.

Yes, it was. Ner Oxman admits to plagiarism. She didn't admit to plagiarism here. basically a cleric.

Are you here question Elow Business Insider which which we should say is owned by KKR Henry Gravis and you made calls. Giv your stature in the world and your relationships with some of these people that most people have no access to when an article is published about them that they don't like. Well the first thing we did first thing I did uh was call someone I knew on the Business Insider board. But again this is why stand up this organization Because unfortunately business I'm not the first person The Business Insider uh or my my wife is not the first person that they've gone after falsely accusing them of something criminal okay or fraud excusing my wife for fraud.

You know the the the uh Twitter if you will or ex is littered with you know everyone in the world has talked to and theyve ACC They've accused you of being a racist. They've accused you of being a liar. People have accused you of fraud. You care about free speech I do.

But let me just first of all, accusing someone of fraud is a very Ser of mind. Can you ask him how much more powerful I feel like it's like 5x as strong and you don't hurt yourself? You're not going to break your hand, might break your hand. didn't reach him so I sent him a text and I sent him a text saying I'd like to talk to you about something. it's all outlined in my Tik Tok you read it um you know and then I spoke to a member of the board of Business Insider and he calmed me down.

He said oh they're doing investigation um I Totally agree with you. uh that plagiarism is not a series of have this Tex So I thought I said look my only request is either withdraw the stories or announce that you're investigating them and I'll get back to you. Get back to my point yes, have you ever thought ability to reach out Aot or I know them directly? Um, the the old Razz destroyed by med writing a story and they have no rec under the chin and that is B bad bad way for the world In a world where online media and that model drives people to do Sensational stories with highr people say they commit early morning Thoughts with the wives of high-profile What about what about the facts themselves and I just want to read you this is Axel Springer Spokesperson talking to Puck Yesterday, most people underestimated the way that Bill Akman is completely losing it. that's what he said about you and went on to say uh, that the facts of the story stand their argument I Believe Is that the facts of the facts? Uh, there's a a question potentially about the motivations which you've raised about the editors and the reporters who may have pursued that story.

Uh, I Love that statement. Let me tell you. I Love that statement. Business Insider is a wholly own subsidiary of Axel Springer Yes, it's probably a several hundred million dollar entity.

Axel Springer is a multi-billion dollar buy it when Axel Springer says the facts in the Business Insider story are correct After I put out my 546,000 word thing outlining why the facts are false the most material is Ner Oxman admitted to plagiarism. Ner Oxman never admitted to plagiarism. Okay, Axel Springer is now a recourse party if there is a lawsuit, which is where you started your question. I Hope we don't end up there.

We're going to take a pause in this conversation because we have some data that's coming out. He's obviously pissed off. Are we going back to him now before we go back to him? Uh I want to take a quick break from that and I also want to take a quick break from from uh, talking about how we would fight in a street fight. the old razzled dazzled knee to an elbow.

Um, make Freedom legal I see that you're in chat right now Are you in chat? Make Freedom legal I I think I saw your name Make Freedom legal I I See you in here? Um I'm just wondering not only for me but for everyone in here. If you would like to give me an apology uh because yesterday you called me a libtard and after the stream I went into my safe place and I I cried a lot because your words hurt my feelings. So I wanted to be the bigger person and give you the opportunity uh for using your words which cause physical harm to me. So is there anything you want to say to me? the group because you kind of created uh I would say a combative environment and that that's honestly it's racist just I don't want to be that guy.

but it it was honestly a lot of privilege on your side to not recognize the environment that you created for all of us. So you want to say sorry or where are we at? It's a macroaggression. It was a macroaggression. I Never thought about it that way, but it honestly came off as a bit of a macroaggression.

Welcome back to Squa Box, we're continuing our conversation. Speaking of macroaggression, here's Billman's Macro: You for being here? Uh, want to. Uh, just talk briefly though about the markets before we get back to uh, the Henry Kravis and Plagiarism and Free Speech and anti-Semitism issues? Um, you just saw that data come across the tape. Yes, uh, where are you in terms of the markets right now and what you think is happening or not happening? So on the Bond markets.

Uh, I don't know if you remember I Tweeted that at 5% I Thought the 30-y year had kind of gone far enough. We actually reversed our position uh and went instead of being short the bond market. we went long, the fiveyear and the one year again through these sort of asymmetric instruments. At that time, you know rates have come in a lot.

We've kept that position on because we believe rates are going to come in further. I Think the data point that came out this morning is sort of confirmed there's three rate Cuts Uh, in the offing now. four. By the way, we had L.

Finon in the 6:00 hour. He actually thought that we may not get those three rate. Cuts maybe it's two? Yeah, I think he's wrong. I think we have three or certainly remember three rate Cuts is 75 basis points off of.

call it five and a quarter, five and a half. That's not a meaning, that's not a significant move. You know, three rate Cuts would be like a 15% reduction in rates right now. We're you know, with inflation, you know, cooling very meaningfully.

the real cost of money is very high right now. So I think they're going to have to move early and I think they're going to have to I don't think we get one in Mar little. but to the larger economy as we look, remember, we're in a presidential election year. Yeah.

so I think it's good for equities as long as they bring rates down fast enough to avoid a meaningful recession. Um, by the way, talking just for a moment because I mentioned the presidential election, you have been quite active online about the election. Uh, at one point you were, uh, supporting or at least talking about V Ramaswami. Uh, why? Pier Pier is no longer in the game? Um, but you've also talked.

You know you've been a long time Democrat and you've been quite outspoken it seems against President Biden and so and I think a lot of people are trying to understand your politics today, given sort of where things have moved here. Sure, so one. I've always been a Centrist always believed in supporting who's ever best for the Country Republican independent Democrat Uh I think it's really important that Biden steps aside says he's going to step down I think he's you know, just on the age going to Ru P this Prime issue uh I think a good part of the reason why we have what's going on in the world geopolitically is he's perceived as a weak president and uh, he will be even weaker. Uh, in a year.

Does that mean that you would vote for president, former president Trump against President Biden Right now you know I'll make that decision when I have the choice. Um, but I would say what I'm hugely in favor of and actually coming here right after this interview is Dean Phillips he's going to meet with the whole organization Dean A lot of people know who Dean Phillips is. he's a three-term congressman from Minnesota considered uh, one of of the most bipartisan Congressman super capable uh entrepreneur Beler vodka? Uh, that that kind of highend? uh, what's it called sorbet? But stick with me for a second. Uh, he's gone to 26% uh, approval or 26% of the vote poll in New Hampshire from nothing in a very short period of time.

he's someone people need to take a look at if Biden steps away. I Love a world in which imagine a world in which we have a capable, young, great, moated entic person no idea and we had something you know, something similar on the Republican ticket and you went to the polls and you weren't sure who to vote for because they were both outstanding candidates. I think Philips could be very interesting on the Democratic side and uh, you know my hope for VC was he was going to be that person on the Republican side. I I Expect he might surprise people, people think he's out of the race? maybe.

but if I think Haley is someone what's interesting I think about Haley and what I think is interesting about Phillips is that I think Democrats and Republicans support can support either of those two. c Does that mean that you you're anybody but Biden At this point, the reason I talk I think about former president Trump being dangerous historically and so it now you sound open to to voting for for former president. Trump uh I I'd Like my goal right now is to have good alternative to Trump and Biden that's my goal but if those are, if those are the choices I'll make I make my decision then based on the state of the world. but I I can't imagine Biden I I Just I'm stunned that he has steep said he's stepping aside and that is very very he will lose fair to see to think that's vote for Trump Trump will be our next president if Biden is the candidate for sure I mean and I think that's a fair comment You know as Neil Ferguson has says he says uh if Biden is uh is President uh you know we're in a very stick with me.

His view is stick with me. the US is at grave risk with Biden stay as president GE politically but the Constitution's fine with Trump is President He'll keep us safe but the Constitution is at risk. Do you? That's the choice. Do you think your politics historically which have leaned uh to the left uh have been a mistake and I ask because part of the whole political prism with which the arguments around anti-Semitism and Dei and freedom of speech uh on campus and in bigger institutions has is now seen that way.

Do you think you made a mistake I think the De: what the Democratic party what left means today is not a party I want to be associated with I think that's been AIG I was a Bill Clinton Democrat uh and what the party has sort of morphed to is not something I want anything to do with Do you want to have something to do with the Republican party I'm I don't want to be part of a party I want to I like being in the CER and if I love being invited Pi the right candidate I'm tired of the country being about right and left I want it to be about what's right for the country Um before our conversation was paused earlier, Yes, uh, we were about to talk about Henry Kvis these accusations about Business Insider which KKR owns? Um, and whether you're going to sue them and sue him, uh, do it, Do you? Do you not suing Henry Kravis? Let me, let me just be clear. Business Insider Put out this story Okay, it's a rogue news organization. That's what they are I mean check around. You probably know this already.

They're owned by Axel Springer which is the CEO of which is a real guy. Okay, he's a I've had six or seven people close to call Maas who CEO I think that's your computer ringing. Embarrassing for an anchor. You're supposed to be good at this, by the way.

if that that's plagiarism, you're you're toast. Thanks. Okay, small little error. Um, but uh, where were we? you were I mean you, you were talking about Henry Kavis, you're talking.

So my point is Axel Springer I Thought was a legitimate company Matias is supposed to be a fantastic person, but they're the control person, right? They own 100% or whatever management owns. they own substantially all of Business Insider They're respons for business insiders acts and the best evidence of that is they put out the story. We've disputed it, They've confirmed that. but do you think I guess My question is, do you think my point here is is this differently by the way I wrote Artic I've written articles over the years.

Yes, uh that you have objected to vehemently. We've had uh, disagreements about those articles and you have felt uh, in certain cases that they were unfair I Remember those conversations Okay, is this different to you? Yes. and is it different because of the facts? or is it different because it's your wife? It's different because of the facts and also because it's my wife. But let's put it this way, if you a story saying Bill aditt insider trading which is the academic equivalent of what they said about my wife right, that's so nice.

Certainly I would call you but if you didn't change the story I would go to your editor if your editor wouldn't fix it I would go to your the president I would go to the ultimate control person and that's what I've done here. First, we object to the story to the Business Insider people and when they do nothing then we complain to the the the Axel Springer uh, management team or the board and when they do nothing then at the end of the day Henry Kvis controls 48% of the vote of this company with a phone call. he could fix this. So yes, the fact that this has gone on it's now a week since this more than a week.

Thursday was the beginning when they said that her thesis was marred by plagiarism. Ner Oxman's thesis is marred by fraud. That's what they said. And then and then the second story was Ner admits to fraud I.E Plagiarism right? The third story is like.

We found a bunch of other examples which are completely fictitious examples. You said that family is off limits and uh, that's something you you you took to Twitter And you said historically, uh, business people are not supposed to go after family. Yes, and yet there are numerous instances where you have gone after members of families as part of some of this activism around the Univers. I Read you, this is Caris Swisser on on X She says a to attack the wives of MIT folks we can get into this in a sec of course or talk about people being fired from jobs like it's a human hunt.

Uh, and when economically attractive PALS like Elon uh, you know, uh, uh. go after uh, house speakers, uh, or the husbands of house speakers file All of this she effectively says under coited billionaire co-playing tough guy getting a taste of endless do mean I won't use the word uh, that rains down here on the rest of us surfs 24/7 What do you? What do you make of that? Well, first of all, I've not gone after anyone's wife. but give me I thought she's talking about Elon Musk I don't think she's talking about Elon Musk she's talking about uh at MIT uh one of the board members chair of the board uh, you have uh effectively said that the chair was uh, funneling money uh, illegally at least for tax purposes. Let me let me summarize: I can help you I know the story better than you.

Okay, so the chairman of MIT is a guy named Mar billionaire Response: Mark Orenberg So I had a MIT The Faculty uh shared with me he said Bill do you think this is unusual MIT is the only funer of this nonprofit, the CEO of which is the wife of the chairman of MIT the chairman of MIT is the treasurer of this organization and MIT in their 990 is listed. that's their IRS disclosure as the only fun Said bill Is this what's with this I took a look at it I said how can this be I tweeted about it and then someone a spokesperson said well, no, that's the MIT Donor advised fund and Mr Gorberg funded the money to the donor fund and the donor fund funded the money to his wife's charity means he going after the wife. It's going to impact the wife No, no, unless she's involved in the business, she is involved in the business. Okay, the business by the way.

And this is some we figured out recently: I haven't got a around to uh tweeting about it. The business is a Dei consultant, a nonprofit Dei consultant. The wife also owns apparently a for-profit company. so you the DI consultant determines whether or the not nonprofit determines whether you're supposed to sign a pledge saying you're going to keep various Dei things bit like companies that run around asking for an ESG pledge.

Then they have a service which is a for-profit service where they sell you products Services software or otherwise uh to enable you to fix your Dei problem right? This is the Chairman of MIT and unfortunately his wife who's the CEO of this business I wasn't purpose here was not I'm not interested in the wife but the wife is inextricably involved here and the reason why this is tax fraud and have other problems is when you're you can't when you give money to a Donor advised fund. The Donor advised fund is not allowed to give money to something Affiliated to the donor. so that's problem number one. The problem number two is that this is MIT right? MIT has sponsored a couple of Donor advised funds and the goal is to get donors to give money to MIT Affiliated things and then also occasion other things.

This you know a Fidelity donor advis fund. You could never do this and the benefit to him is his wife. even though MIT da is the only funer of his wife's charity, Uh, they could, this could not H he couldn't give money directly and get the same tax deduction. That's the problem.

So I yes, I attacked the Chairman of MIT I thought it was fair game. Okay, in light of what kind of what's going on and he's putting at risk the tax exempt status of the Donor advised fund. Larger question though about your role as a both a donor, an influential figure. uh, in these in in in these instances there are some people look at this and say, what is he what does Bill aan have What? What is his right to be involved in in any of this? Maybe as a shareholder, you are, but should we be listening to the quote unquote billionaire Class right? You've seen this critique.

Should we be listening to these people over these people and should? Should the academics have more freedom and have more freedom from the money? Okay, what do what do you make of that? Sure. So and by the way, this is becoming a bigger issue at Harvard now I Want to get into the Harvard Endowment in a moment? Yeah, because that's the next piece of the campaign that you're going after. So uh, the answer is if you don't want to listen to to me, don't follow me. That's number one.

Um, the reason why I can speak freely And this is an unfortunate thing about society today today. If you say something that offends someone you can lose your job, you can get blackballed, You can get cancelled. It happens on University Fair I'm Not Afraid 100% I'm not afraid of being canceled I'm not afraid of losing my job and financial Independence Gives me the weell to speak and by the way, I've literally gotten thousands of emails, texts, letters I can walk you back to my office and show you something of I Get them, they come in every day. Okay piles of them Okay people saying Bill Thank you for speaking on behalf of all of us and you know my biggest driver in life I should have answered your question differently.

This started pretty close to I want us 18 biggest driver was Independence I wanted to be able to speak freely, live my life and that motivated me to be successful. and you know I argue with success also comes responsibility if I see something that's a in societ I want to do do something about it and there are a lot of people. Have a lot of money, a lot of resources. you know what? They sit on their yacht which is fine and they live their life and no one's going to criticize them.

or maybe they catch them on the A. they'll criticize them right in my case I Want to? You know when I'm 85? Looking back I Want to say you know what? I help solve a number of important problems if you can't tell by now I'm a fixer. Okay, right. What is shareholder AC Mur fixing By way, What is this Helping to fix universities? It's all the same fixer.

Let me say one one more question about that and then want to talk about the Harvard Endowment. Which is, if you go back you you have a track record in which you fix things and sometimes you fix them and you win in a very big way. You also fail in a big way too, right? I You could even argue that you're somebody who hits home runs. Also has a whole bunch of strikeouts throughout the process actually.

I Don't think it's accurate. Uh, if you look back at our history, we've had some big losses, sure. but the success is vastly overwhelm. Vastly overwhelm the failures.

like the. The success rate is extremely high and you should look at our record over time. So Valiant and Herbal Life right? Disaster? Okay, JC Penning smaller disaster. Try to name 10, right? We've made a hundred.

Investments Well, more than 100. Let's let's talk about the next fight. Uh, that I appears to be on your hands, which is that you are supporting I Think at least the reports have been that you're supporting, uh, an overthrow of the folks who control the endowment at Harvard Not accurate. So Harvard has a board of directors that elects itself.

This is the most important board. It's the corporation board called the fellows of Harvard. They really control who gets who's the president. Then there's a group of alums that are part of something called the board of Overseers.

About 30 or 32 of those. the board of each year. Five, six seats, one ring to rule them all. In light of everything that's gone down on campus.

Uh, a group of four uh, alumni? Uh, a very, very impressive group. Uh, you know Navy SEAL Marine Navy All military people, but also brilliant I know one of them a guy named Alec Williams you know, prined in and he did a joint degree Harvard Business School in Yale while he was going to Afghanistan Okay, like super impressive guy. They're very unhappy with what's going on. uh, on the Harvard campus and they're going to.

They need 3,200 signatures. By the way, if you're Harvard Lum Go. Uh. sign up and back of their campaign and they're going to put themselves up for election.

Uh, to to be on the Board of Overseers which doesn't have a lot of control I Want to be on the board supporting them is it sends this incredible message to Harvard It gives them a mandate to look at things and their platform includes. One of the issues they're concerned about is the Harvard endowments earned something like a 4 and a half% compounded return uh for a decade in one of the best bull markets in history. I Don't you know? I'm not allowed to disclose what our record has been During the period, but the Harvard and down one would probably be. you know, 500 billion or something, right? They invested in purging instead of whatever they invested in and so they're going to look into that.

So you think there's what are you suggesting? Well, we kill them. Uh, since we uh, you know. what's interesting about being in the position we're in is we get inbounds I'll share a couple of interesting inbounds and I guess the world will tell you whether they're true or not. So Harvard lost apparently a billion dollars to on a fraudulent situation.

What Fraulin situation. Apparently they bought like a forest in the Amazon or from Brazil what? and the they included in their returns Marto market gains on the Forest right? right? But apparently they relied on marks each year from the person who sold them. The forest kept telling them that it was increasing in value until they at some point that bad things happened. it blew up and went to zero and they had to write it off completely.

At that point, over billion dollar. So the employees who were getting paid incentives based on the increased value of this Forest uh benefited and then Harvard took a huge wipe out that's never been disclosed publicly again. I Have no, we're gonna have to fact check that to fact check that I'm saying this is something I Heard from a cred very very credible Source that's one. The second one I Heard the was that president of Harvard had a view on interest rates and decided and told the endowment to make a derivative bet on rates and that bet lost a billion dollars.

So I got A couple I want to follow I'm a little anxious about putting that out there in the public without without being able to fact check that in real time Harvard should put out a statement Is it true that the president of Harvard uh did a derivative trade in fact caused the down do a derivative trade that lost money on rates about a billion dollars or anything close to it. and is it true that Harvard had an investment in a forest in South America or otherwise that they marked to Market each year they paid a few hundred million dollars for it increased in value to something approaching a billion and they were forced to write it off. Let's ask the question instead of presenting it as fact. Um, we got to wrap up.

Uh, but I I have so much more to say I know you do u I I just want to I I Want to end with this: Uh, when all this is said and done, yes, Do you want to be known as an activist investor? Do you want to be known as something else? uh I think there's a real question sort of who Bill known as for sure I want to be known as a good person who cares about Society uh a patriotic person who loves this country uh, a loyal Lum that wants to help its University a loving husband who wants to uh, take care of my beautiful wife, uh, and someone who really cares about the truth and is prepared to go all in when important things show up and I have the ability to affect change. Bill Amman Thank you very, very much for the conversation today. Thank you appreciate it Joe Becky Back to you. Well obviously we need to dive into this.

Forest Story Seems a little bit interesting, so if you guys can find anything on the whole Harvard Forest Debacle. Um I think that's something we should dive into today. but with the remaining 18 minutes we have until the Market opens. I Do ask you guys if you're on YouTube right now to vote Market At open the very first minute, the very first 60 seconds of the day from 9:30 to 9:31 where do you think the Market's going to go? Are you bullish or are you bearish and in Rumble I will come back to you in a second I just kind of want to give you a little bit of a skinny on the situation.

Dow Futures drop more than 100 points as earning season kicks off more inflation. date ahead. Well, I'm sure the interns they didn't update it. they should have updated because the market is now going up a bit.

Uh yeah, no, it's it's holding I Mean we're above yesterday's close? not by much, but we're definitely above. Netflix is looking good and Ethereum's looking good, but those aren't really the bell of the ball today. What the bell of the ball is is the macroeconomic report of the PPI the producer price index. It's a measure of inflation instead of for consumers.

Obviously, it's for producers coming in a little bit lower than expected, which is good. That means we are not inflating as much as they anticipated. So is this a massive win? No, But hey, it's definitely a win of a particular battle, so we're going to take it. also.

Today we are officially at as of whatever 8 This morning we are officially underway with earning season and usually this gets kicked off with a big lot of financial reports and that's exactly what happened. JP Morgan Chase Profit Falls After $2.9 billion fee from Regional Bank Rescue. Um, so JPM they earnings per share. The EPS was 304 when they expected 332.

the revenue is 39.94 billion and expectation of 39.7 eight. so little bit of a mix bag. They miss on the EPS, but they beat on Revenue City Group Post $1.8 billion fourth quarter loss after a Litany of charges. Uh, their EPS was 84.

Uh, may not compare to with expected 81 revenue of 17.44% cents when they were expecting 68. but obviously the charges not the best. look Delta Obviously, not only do we have a bunch of plays within the world of XLF which is the sub sector in the S&P 500 tracking financials, but we also hear from the Airlines Delta more than doubled fourth quarter profit but trims 2024 earnings forecast so Delta which most likely will be leading the way for United Southwest American Uh, the adjusted EPS was 128 versus the expectation of 117 and the revenue was 1366 billion versus 1352. Uh, so beating on both top and bottom line numbers.

But folks, we are officially underway with earning season. So for the next 3 weeks that's when you could expect the big Tech names, other big Finance names, a lot of energy names. The next two to three weeks are going to be chalk full of a lot of earnings. Um, don't forget to sign up for this.

It should be coming up uh in the Discord or excuse me in chat. Um, this is locals on locals I post news letters I post some trades but also it's the connection to Discord. But anyway, you could get this newsletter for free. What I want to let you know about is I give you things like the earnings I let you know about all the major macroeconomic events uh and what I want to cover right now is the seasonality of today.

So for today Friday January 12th The Bulls have won this day over the past 25 years. only 44% of the time. So a little bit less than flipping a coin and the profit Factor has been 0.75 Uh, anything below one favors the Bears anything above one favors the Bulls. So this is the equity curve of buying and open and selling and close at the S&P 500 futures Market You can see for I mean really 20 of the years I don't know, 15 of the years it's kind of gone nowhere.

and then there was a bullish pop for a couple years and now recently there's been a bearish pop. So it's I would say slightly leaning bearish, but it's more volatile than anything. So that's the seasonality on the day. and then at the end of the week I Give you an update on the options strategy.

Um, the options strategy. Yesterday Thus far, on the the week, we're 4 for four this week. Monday Tuesday Wednesday Thursday Monday Tuesday Wednesday Thursday Doing perfect and obviously we're looking today Friday to conclude the week batting a th. Um So basically right here here's just some proof that I posted in real time 10:06 yesterday January 11th there was a bearish signal generated three out of five strength spy call Credit spread a q call Credit spread a little bit later in the day I put in the details I share my own my own trade and then you could see where I'm at on the week.

Um, so thus far basically using ,000 worth of capital uh uh, from the 8th until the 11th the account is up 3.6k so if you want to get into this you can get into it for completely free and I I know like obviously the code is Gooni I Know yesterday we were using the code 2024 but the reason it's switched up right now is because if you click on the link uh, in the description of the video, uh, it's also popping up right here. Let me just get it. Um, the awesome team over at Locals made it even easier. So some people people reached out to me saying hang on, why did I just copy the wrong one? My apologies, hang on, let me just get the right right here.

It's the very first link in the description of the video. Um, some people had an issue not knowing where to put the code so they made a new landing page If you click on the link right now right here. Free Discord Access Use the code Gooni for one free month for full access to the Gooni Discord and locals community. So the code's already in there and you just hit subscribe and it'll be free so it has to St on monthly the Gooni code should be in there.

It's literally a click away so hopefully that's a lot easier. I Just I Went through the workflow myself and I was like all right it is a little bit clunky to get the code in and do it. so for those of you who are maybe having issues or whatever, uh, literally, if you just go to this link right now, it should be applied and the code is Gooni One free month once again of the Discord and the local community, so hopefully that makes it all a bunch easier. And for those of you wondering if it's worth it, Well, you get the first month for free.

After that, it's $300 for an entire year and you can see this week alone I paid for 12 years of access to it so that that mathematically makes sense. You could have gotten this for free and then you could have always paid for the Discord. So um, kind of crushing it across the board. All right.

So just wanted to share that. but the link in the description of the video should be a bit easier and it should be coming up from Nightbot. but if you are on Rumble it's just that giant local sign. Five things to know before that stock market Bel goes dingy ding ding ding today Friday the 12th wrapping up.

Basically, we're trying to see how the week's going to actually go. Uh, as of now, how's the Spy looking now? Since we got the PPI report which was arguably favoring the Bulls, we're about 40 cents above. Uh, 50 cents above where we concluded yesterday. So I'm looking for the retest of 477.

Uh, 50 55 is and seeing if we could test the all-time high of 480. that would be exciting call falling on reserve. So right now I mean you can see it here in XLF little bit under pressure. um actually XLF up a little bit well hang on which one bounc back JP Morgan is up 2% Bank of America is down 3.2% you have City that's up 1% Wells Fargo is down 2% Uh, what was the other one? Black rock? uh BLK right, Black rock is down.

three so mix bag JP Morgan actually doing well and City's up. That's interesting. So JP Morgan up City up Wells Fargo down Bank of America is also down. so mixed bag in terms of the Market's reaction to What was reported onward and upward.

CPI Yesterday came in a little bit too hot, but today we got the PPI coming in a little bit cool. So uh, let's see how the market reacts. A little bit of just opposite news: Uh ten Tech crunch Google is cutting sever hundred jobs we saw Discord is cutting 17% of their Workforce Uh, we know Twitch is cutting some of their Workforce There's this has been going on for about a year year and a half. Uh Tech is continuing to lay off people Bond Voyage uh Delta they reported their numbers D let's see how that one's doing this morning.

Uh, so it's down 5% even though they beat on top and bottom line, it's because their future guidance, uh, their expectations for what's coming down the pipeline. not so good. So they beat on top. they beat on their EPs and on their revenue.

But remember, the market is a forward looking organism. So When you say yeah, we did well, but we expect to do poorly. The market is not going to react the best to it. So U most likely down this morning down 4.7% itself a is down 4% and then Luv which is Southwest is down 2% so all the airlines taking a bit of a hit.

the only other one I I don't know their number UNH This is a health insurance play. Obviously their numbers must have not been the best cuz it's currently down 4.2% in pre-market trading Lots Going on a little bit later on I Want to talk about what's happening with crypto and Vanguard and some interesting things that uh Jack said this morning. uh so should be exciting there. Hang on and let's get zoomed in on this.

All right, All right, All right, All right, uh with camera, Let's switch this up. All right. let's see how the accounts are doing if you are on Apex and you passed the test yesterday, but you did not get the email uh to upgrade to a PA account when we're talking real money the way these seven is. It's because Rhythmic had an issue so everyone on trade ofate was fine.

So it's not an Apex issue. It's not a trade ofate issue. it was a rhythmic issue. They never processed their daily update.

so I reached out to Apex to say what's going on and they're saying oh, it was a rhythmic issue. We're going to process everyone today. so lit, this is an email right here from Apex I Just want to let you know So if anyone else is experiencing this issue, uh, right here. In order to ensure your accounts will pass by the end of Friday night, we need you to place a quick Micr trade before the market closes at 5:00 P.m.

ET So if you're in a similar situation to me, where you were going for the one-day approval, you already hit your profit. Target But if you're using rhythmic, if you're using trade of eight, you're already good. Rhythmic had an issue. Um, so to ensure that you're good you right here in order to ensure accounts will pass by the end of Friday night tonight, we need you to a quick micr trade before the market closes at 5:00 p.m.

ET Um, so I was emailed that this morning just so everyone knows. uh, if you're in that situation, it sounds like you're still good. You have to do a quick In-N-Out trade for whatever reason I guess to process something and then it should be good So just wanted to talk about that. In terms of the three competition accounts, remember: uh, YouTube's account is 47, Rumble's account is 48 and my personal account is 49.

It's a three-way competition to find out who is the best. Right now, there's only differential of $10 YouTube is up $ 3998 and then myself and Rumble are up $409 So like I said, just a difference of $10 And sometimes that's just the luck of the draw when it comes to slippage. Um, to help with that, to just be fair, I end up rotating between the three who's the lead account in case we all agree of if we want to go bullish or uh, bearish at open. Speaking of which, so YouTube has put in their vote.

but Rumble Rumble Rumble Rumble I Need you to now vote? Um, so for you guys, account number 48 at Market open from 9:30 to 9:31 Are you bullish Or bearish? Particularly in the NASDAQ in the tech sector. Based on everything going on this morning, the fact that it's a crazy Friday All right, we have a bull. We have a bear. We have a bull.

We have a Bear Bull Bear Bear Bear Bull Bull. All right, you guys are now 5050. All right, we're going to have to redo this. Um I would like you guys to be a little bit more I don't know on the ball or something here.

a little bit more on the ball of which way you think it's going to go. So we're going to restart the vote cuz you guys were just 50/50 I'm going to look at the first 10 people to respond. The first 10 people to respond All right. Bear Bull Well Bull Bear Bull Bear Bull Bear Bear Bear bear Oh ooh okay.

the Bears tilted it that way. All right. All right. we're going to have to do a little bit of something different.

Uh so YouTube and Rumble Today is day four and we are officially this is the first time of going the opposite way the first time. So YouTube is going bullish and Rumble is going bearish. So let me fix this accordingly. Okay, Account 47 is YouTube So 48 is Rumble So I am unassigning Rumble unassigning.

Rumble Uh, my account is the lead account. I'm going the same way as YouTube today because the wheel of Destiny told me to do so and then these counts. Don't worry about those. The other thing I need to do I Guess oops is kind of no I want we haven't had this yet? I'm kind of excited.

It's an interesting sense of competition. All right. So I need to count 48 48 48. So 48.

Okay, all right folks. we're We're about to be locked in. We're about to be locked in. We're going to see first day of a differential.

So basically I myself and I myself and YouTube are going to go do I want to go bullish. Well now now yo