Foreign I Need this thriller I Need a skrilla on the river? Survival of the Finish You can sink or swim I've been broke I ain't never going back again I Need some C note some shutter and a stack of ends I Need a bowl of dough I Don't need no Facebook friends I Need a packet of snaps, a handful of fetty waps, and rubber band on my green backs. look dog, don't be playing with my paper I Need every rancid. that's why I brought my little scraper you don't know me homie I Rob My own neighbor with a clock around my neck with a style that's so Flavor Flav Give me the looters. Just the understatement.

I'm about to take your bank and put it in my basement. Money makes the world go round I'm gonna talk around town Remy gave me the sound I Need a thriller on the river I Need the Thriller on the river golden arches St Louis I'm the Big Mac St Petersburg Russia you can find it on the map oh I'm so cold I could spit the snow. that's why they call me nitro with the nicest flow on the real man I Hate it when they call me bro. It's getting on my nerves like these bills and these haters yo cheer a grown man with a loaf of bread I Stack of binges right under my bed.

Check it. My shoe box is the stash spot I Used to keep my scratch at my dad's house I Got a deadline so I need the cake I Need a plan so my duck is gonna try to escape? Yeah! I'm always looking for the currency. a large amount. Call it a pretty penny.

Money makes the world go round I'ma talk around town Remy Gave me the sound I Need that Skrilla on the river I Need that Skrilla. Money makes the world. Money makes the world go round I'm the talk around town Remy gave me the sign I Need that Skrilla on the river I Need this griller on the river brother. Looks like we have quite a debacle in front of us today folks.

welcome back to I Guess my course live is that what we're calling this I Hope you're having a fantastic Wednesday Morning evening night maybe a light night is is it is it night for anyone? Is anyone up just staying up super late and you're still just like keeping the party going from last night and you're like screw it at this point. oh, mine is really anyone in here that degenerate? I'm just assuming a lot of you are like me. You got up at the crack of dawn, went to the gym, crushed a chest, and a tricep workout came back to your computer, got ready for the training day, had a couple espressos, had a couple meetings I'm assuming that's where everyone was at, but I'm almost I'm now thinking that there's someone here who's still up from last night and if that's you, Congratulations I Hope you have a great day. I Hope your day is as great as your fun evening was.

but man oh, it works. Cut out for us, our work is coming out for us. that's why I Started a little bit early today just because we needed to dive into the craziness that is earnings. and also FRC FRC It looks like I might be losing all my money on that one.

Um, it was a degenerate binary bet and it is just not playing out. It is not doing what we wanted to do, so we have some updates on that. and I mean watch the update video from last night I Covered a lot about what's going on with FRC From from last evening yesterday evening to now, there's even more updates so we're going to be diving into it. So I want to talk about Microsoft and Google and Chipotle they all reported last night and the tldr of them is they all kind of crushed.

We do have an update on Microsoft this morning of they've been trying to acquire Activision Blizzard the gaming company for quite a while and London they got pissed off and said no, they're like remember the time you threw all of our tea into the bay? Well, we're hitting you back now so they're upset about that one then I Want to dive into First Republic and one of the most fun headlines we've seen in a hot minute of it's like absolutely wild we're gonna be getting into that and then I also have an update for you related to Voyager and Binance and basically how that deal is now dead in the water. We have a lot going on. Oh, completely forgot. We also need to talk about the fact that the market just vomited yesterday.

Major technical breakdown at 410. We're bouncing a little bit this morning and obviously things are being held up by the success of Microsoft and Google and even a little bit. Chipotle Recently Pepsi I would say they've all been doing well. This evening we have Meta tomorrow we have Amazon Intel Snapchat my apologies I hope I Don't know if any of you heard that but I just sneezed.

So I'm sorry if um, that came through on your headphones. Uh, it was really subtle though, so you might have missed it. Uh, but that's why I randomly went quiet because I had to sneeze. Um, so we have to get into that not streaming on Rumble today it should be on Rumble What are you talking about? Rumble chat Are you there? Is it working? Yeah, there's 400 people watching right now on.

Rumble Um Ryan Conrad I Don't know if I don't know. just quickly search my name over there I think it should be working. Yeah, crypto's ripping. Uh, actually Bitcoin Huge rally recently and this is what happens when Banks fail.

You have Bitcoin Rally from 27 000 to 30 000. you have Ethereum rallying from 1800 to 1960. So cryptos popping certain equities Microsoft Google Chipotle doing well the overall Equity Market Looking a little bit sus the banking sector well specifically. FRC Not looking good at all Lots Going on.

There is a lot. There's a lot. There is a lot going on. so folks, it's gonna be quite the show.

Gonna be quite the show now as always. as always as always as always I'm going to be relying a lot on all of you folks to get me through the show to get us through the show. I View this as like the show is really 10 mine and 90 years in terms of entertainment and the things we talk about and all that. good job all that good stuff I Didn't know the song Kurt that song that we started with or what song are we talking about crypto pop but I think it'll come down hard.

kind of depends. Uh, we're seeing obviously the correlation. Sometimes it's more strongly correlated with the NASDAQ and I'm speaking specifically about Bitcoin and ethereum correlation with the NASDAQ. Sometimes we see really strong correlations and it's still been somewhat correlated, but sometimes it does weaken a little bit so that's another thing we could get into.

We could also get into the seasonality of today just to give you guys a little bit of the cold hard facts of how today is performed historically. so it's going to be a good one. I Hope you enjoy it and if you don't, hey, there's always tomorrow. Maybe if I say something you don't like, Maybe if I just don't have the energy you desire.

Maybe if I Just really. Overall, don't deliver in what you're looking for in content. There's always tomorrow. That's why we really are going to call this the setting the bar low because if it's low, we just have a better shot of actually clearing it.

So I'm excited! Shout out to today's stream sponsor: I'm talking about Street Beat. It is pinned to the top of Chat. It's in the description of the video and it is also right in front of your face. So download the app whether it's on your iOS Android Whatever it is, Uh, put in the code Matt mat.

On the very first page, there's going to be a little link that says like referral code put in the code Matt mat and you'll get anywhere from five to five thousand when you sign up. This is a very, very cool Robo Trading Advisor brokerage-esque type of thing. They do not benefit in any way from payment for order flow just for the people who particularly care about that. But what Street Beat has that's awesome is you can generate your own AI based strategies whether it's Street Beats own proprietary data in conjunction with Chachi PT AI you've seen it I Can show you more today, but you generate your own strategies.

Uh, we made that one. The one that's really been crushing it is called the value Hunter On top of that, they have their own pre-made strategies. They have all those fancy schmancy smart data science people. They have one for top government contracts U.S Congressional Investments They have a bond liner one.

they have an earnings one. They have some pre-made ones, but if you want to use them I Really like the Bond ladder one, but I've also really, really been enjoying creating my own. especially with you guys. I Mean you can make ones for an alien invasion? You can make ones for World War three.

You can make ones for inflationary environments Commodities You literally just I Mean you could type it in I end up just talking into it. And the type of things that are produced for a couple minutes of processing is the things that would take financial advisors days and days and days. So definitely worthwhile to check out. I Fully stand behind it I Think it's one of the coolest products I've ever been affiliated with and on top of that to pay you for your time.

Obviously, as a marketing tactic, you can get a free five to five thousand depending on the size of your initial deposit. Totally worthwhile to check out. Download the app. Street You can just download it off the app store or you can click on the link that is pinned to the top of chat in the description of the video.

But if you want that bonus money, make sure you are using the code. Matt Once again, M-a-t-t Don't forget that second. T Um, it's a very big differential between being the person named Matt and then the thing that you use to clean your feet when you're walking into someone's home and one of those will be the bonus code and the other one is basically just a typo. So I just wanted to throw that out there to all of you.

But also shout out folks, do you see what's going on on the bottom of your screen? You would not believe the hassle that went into that. but there it is. you guys. For years, ever since I was 10 years old, so many of you were yelling at me Matt you need a Ticker on the bottom of your screen and I looked at you and I said who are you what do you mean a ticker I Don't stream what is streaming and yet time and time again you guys were screaming at me to do it and we finally got it up.

So when I'm just going off on random rants of news or if we're watching videos for the degenerates in here that still really want to know what's going on in the market, uh, we have the tickers going across I Try to pick out the ones that I thought were the most popular, the ones with the most interest. I Basically just looked at what you people talk about and all that stuff. but if there is a major ticker that you want in there, a group of you want in there and it's just missing, reach out to me DM me email me, send the carrier pigeon. whatever it is, Whatever you find easiest, however you want to communicate with me, let me know and we could easily add it to the list and get it up there.

Um, if you like the I could I I could also speed it up and slow it down I Feel like that's a good speed though. It's enough where we're getting new information. Ah, maybe it needs to be a little bit faster. Hang on, let's see if we could speed this puppy up like Fast and Furious I wonder how fast it goes? Should I just leave it like that the whole time you guys want it faster I'll give you fast.

Is that like gonna cost someone in here to seize I wonder how like what do you think the max speed is? This is when you go really fast and furious. oh that's five thousand. That's a speed of five that perfect Monica doesn't like it Monica if you can't read it I don't know I mean everyone else is reading it perfectly fine I'm nauseous I can read that perfectly. What's the matter with you all? I Think this is where we're at I Think this is a good speed for the day just to get more information I Know you guys don't want to miss anything.

All right, let's see if we could get this down to maybe a more reasonable a more reasonable no that's a little too fast. What about this? Maybe this. I think that's a good speed I think we can. All we can all agree that's where it should be at.

but if you guys want me to speed it up just so it could, uh, be a little bit faster, more than happy to do it. Why is the rum chat not coming in? Rum chat? Where are you guys at hello? hello, hello rum chat? uh do I need to? How do you reload this bad boy? Uh. refresh browser when scene becomes active. All right, we did it.

Things are really coming together I Don't know why, but I'm just feeling good about today. if we Overlook the one errant sneeze that I had earlier on I Think we're gonna crush it today. You know. does something just like in your gut tell you that we're gonna crush it today I Don't know I'm feeling optimistic I Think things are really going to work out.

We have the tickers flying across. We have the chat working like I said if you just kind of Overlook that one basic sneeze I think we're gonna have a good day I Think we're gonna have a real good day. Yes, Bitcoin is crushing how many of you are in chat right now just for Bitcoin You're like dude I don't really care about any of this other stuff. Um, was it Frc's earnings? It was the earnings, the lack of taking any questions, the fact that they kind of flag to the world that they might be having to unload 50 to 100 billion worth of assets bonds mortgage-backed Securities, and some wild commentary from them this morning.

Um, we're going to be getting into that. We're going to be covering all of the craziness with FRC We're going to be actually talking about crypto and also what's going on with Bitcoin and Voyager We're going to be getting into earnings Microsoft Uh, we have Google And we also have another update actually on Microsoft of Activision Blizzard and how that deal is kind of dead. Uh, we're going to be getting into prep for the earnings. This evening we have meta and I believe Roku and then tomorrow we have Amazon we have Intel We have Snapchat folks you're living in.

Oh, we also have Market events. We have things like GDP and Pce and PCP in case you're like feeling a little down and in the like, you know, down. Today we can get into a little PCP We're all over the map, all over the map so it's going to be a good one. everyone.

buckle up secure socks because we do not want to knock any of those off. Uh, before we really get into it. if you guys could help me out I would greatly appreciate it if you're watching on Rumble Right now if you're watching on YouTube right now or if you're being like a true true supporter and you're watching on both Destroy the like button. it really helps out on Rumble it helps out with the battle Leaderboard on YouTube land it helps out with the algorithm just to get more people in here to party it up with all this destroy the like button.

and if you're watching this and you're like who is this guy, why is he sneezing so much um I'm not saying I'm going to be your favorite content creator but I don't think I'm going to be your least favorite content creator I think I'm going to be safely somewhere in the middle where you're kind of like oh yeah, that Matt kid who I think he talks about like finance and trading. He seems like a little weird but I think I'm subscribed to him I think I'm gonna safely be in the middle I am a safe middle of the road option and that's pretty much my pitch of why you should take the time out of the day to hit the Subscribe button so greatly appreciated. Annihilate Well, uh, safely hit the Subscribe button. but I would ask of you to brutally murder the like button.

Uh, so two different interactions with two different buttons? safely tap the Subscribe That's cool. but when it comes to the like I mean we're talking about full-on family Annihilation like I don't I I Don't even want the history books to be writing about the like button in the future because I just want to like, truly erase from the face of history from the face of the Earth Like I Think that's where we're at. Uh, love the tickers Alan I Love you Perfect. What a segue! To start the show, let's talk about the market.

So yesterday, the market vomited, vomiting, vomiting, vomiting, vomiting. uh I Made this joke already. but in case you haven't heard it, I'm just going to use it again because it's still a quality joke. Um, it vomited the way I do on roller coasters.

Now for those of you who actually care about my equilibrium I think it's all based on the equilibrium within your ears I'm not really sure I think I googled this once a couple of years ago, but apparently it's not sturdy enough to handle roller coasters now. Most roller coasters I'm fine with if you're talking a wooden roller coaster that's not really doing any flippity dippity's or dupity doppitys. I'm pretty good, but for those of you who have ever had the pleasure slash nightmare of going to Disney World The one in Florida I don't know which one's Disney World I don't know which one's Disneyland and I'm honestly at this point afraid to ask because I know there's going to be some hardcore Disney adults in here who like get personally offended that I don't know the difference between the two I I'm sorry I don't mean it offensively, but like I said I'm I'm at the point where I know defense people so I'm truly afraid to ask. So I was at the one that was in Florida and if you go on the one that's in Avatar Land which is a pretty cool one where no near Avatar Lane there's it's called Mount Everest like I think it's like right across the street because they were building out Avatar Land but regardless, there is one that's Mount Everest and you come up to this big yeti troll character and then it has to go backwards like you're riding I'm having a fun time.

It's a roller coaster and it stops and then you have to go backwards and that is the moment that I found out your boys equilibrium. your boy's stomach cannot handle going backwards on a roller coaster I Didn't vomit but I wanted to vomit I was doing everything in my power to not vomit on all the other patrons at the park that day. That was absolutely brutal. The reason I'm bringing this up is because it seems as if the market ran into a similar situation.

It very much seems as if the market was riding up and it ran into a Yeti hang on I could draw it for those of you who maybe are a little bit more. um visual. Learners So basically we we were riding a roller coaster. we we hands in the air, we just don't care and then uh oh, we ran into a big scary Yeti what would a Yeti look like? kind of maybe pointy ears? maybe something like that.

that's a big scary. We'll give it some eyes and he's sad. he's angry, he's pissed off. Um so we ran into this and then uh oh.

vomit everywhere. that happened all day yesterday I Think you guys get it. I Know some of you are a little bit more into technical analysis I Know some of you are a little bit more into fundamentals. but for the small group of you that are here for visual learning like I myself am a visual learner so I totally agree with all of you guys.

this is probably the best. I could do a little bit of history on me to tie it to Anchor you into the situation. So basically roller coaster ran into Yeti and oddly enough, this doesn't really tie with my story. but then you ended up having to go backwards which then led to this vomit session.

Um, so there you are. That's what happened yesterday. Fortunately for my astute viewers, you might be thinking but Mateo uh I don't know. how do you say teacher Mateo How do you say teacher in Spanish El Jefe is boss? Oh we'll just we'll do Jefe Mateo have Mateo De Jefe boss boss of the mat I don't know I haven't taken Spanish for many, many years.

Some of you are going to notice we had a pretty big green bar right there. Pretty green big bar. when the bell went dingety ding ding ding professora I feel like a professor sometimes sometimes I feel like an abuela. but that's just because I feel like my knee is becoming bum.

Anyway, you might notice at the end of the day we had a nice little pop. nice little pop pop and that's because Microsoft and Google and Chipotle destroyed. They did super super super well on their earnings so obviously we gotta be diving into it and it also just ties up a little bit to the thumbnail for the day. It feels like Bill Gates saved the day I Know some of you are coming in here and you might be like Bill Gates is bad for the world.

He caused a lot of people to do things they shouldn't have done. Yeah, but in another way I could argue He saved the world last night. like save the Cheerleader Save the World save the market, Save the cheerleaders. Something like that, You guys get where I'm going with it NASDAQ 100 Futures Rise after Microsoft's beats earnings expectations Live updates I'm the live updates right now the Dow, the S P and the NASDAQ.

Even though it was a brutal day yes, today we are bouncing ever so slightly. oil is coming down so not only am I getting absolutely fucked by FRC I'm also getting double fucked by oil right now my Oxy position so it hasn't been a fun time to be me in terms of earnings. Yes, we are going over Microsoft Alphabet and Chipotle. This morning we got uh Boeing after the market closes we get Meadow we get Roku tomorrow or excuse me Thursday we get American Caterpillar.

then Amazon Intel Snapchat and then a bunch of oil on Friday feel free to screenshot this. feel free to go to at ewhispers on Twitter do whatever you need to but these were in the middle of it I've said this a gazillion times this week. based on market cap, 40 of the S P is reporting this week. The only major player that's missing out.

The only top dog that's really not eaten at this kennel is Apple which I believe is coming out next week and at a certain point you think I would just look it up every single time I keep having to say oh like I think this is next week I don't I think I'm just saying that I've never looked it up and it would be like a 30 second Google search but I've gotten to the point where I'm just not gonna ask like at all because whatever, it's gonna be here when it's going to be here, the Apple earnings will be exactly on time. All right, let me switch this up a little bit just so we can see more. So rewinding to yesterday evening as you guys were all getting into your pajamas, your Jam jams drinking a little bit of your warm milk just to settle your mind and your stomach before you go to bed Microsoft had very good earnings Microsoft reports earnings V says AI will drive Revenue growth so their earnings per share 245 versus an expectation of 223, the revenue 52.86 billion versus an expectation of 51.02 billion. So they beat by 1.84 billion which is a lot of Dinero.

As with any significant platform shift, it starts with Innovation and we're excited about the early feedback and demand signals from the AI capabilities we've announced today. we will continue to vest in our own cloud infrastructure particularly AI related spend as we scale to Growing demand driven by customer transformation as we expect the resulting Revenue to grow over time, this is all Microsoft basically doing their Victory lap because AI has exploded. They have a significant Equity ownership in Open AI which obviously is chat EBT and now they're using it for Bing which was their early competitor to Google that apparently why wouldn't anyone use that? Well, it now might become more popular, So things have been crushing it with AI. But I Also want to point out that the sector that I always like to pay attention to with Microsoft is Azure.

They're cloud computing. and yeah, it is dropping in terms of growth per quarter. but it's still growing a lot. It grew 50, 51, 50, blah blah blah blah blah 35 31 27 So it still is adding significant size and obviously you get to a point in saturation where you can't always keep growing by 50 because simply, there's just not going to be that much demand.

So I still like it I mean I'm still very, very bullish on the world of cloud computing. So now you're in a situation where Microsoft has a fucking Fort Knox like balance sheet. They are very strong now in the world of cloud computing and they're becoming kind of a top dog in the world of AI And I know a lot of us when we think of Microsoft we think about that word doc that like, did you save it, did you not save it Did you email the right one? How the fuck do we convert it to a PDF I Know sometimes that's where mine's at with Microsoft. But in terms of an investment, Microsoft is one of my most favored equities.

If you were to ask me what's a stock I could buy and like, forget about for two decades. Microsoft Is there like I truly love just sitting on Microsoft as a great dividend payment Microsoft is just uh, it's a keystone to my long-term account I just buy Microsoft and I let it sit and then I just collect the dividend and I collect the dividend I collect the dividend which is why we're stoked to kind of be like cosplaying as Bill Gates Today, they recently did get a little bit of a hit and by recently I mean within the last like hour UK Blocks Microsoft Activision Deal So Microsoft was trying to get Activision Blizzard which many of you know is like big in the world of gaming. Um, so the the: Brits not too happy with it Britain Blocks Microsoft's 69 billion dollar acquisition of Activision Blizzard basically saying hey, seems like it's a monopoly if we allow this to go through and right away Microsoft did hit back. We remain fully committed to this acquisition and will appeal.

The Cma's decision rejects a pragmatic path to address competition concerns and discourages Technology Innovation investment in the UK We've already signed contracts to make Activision Blizzards popular games available on 150 million more devices and we will remain committed to reinforcing these agreements through regulatory remedies Where especially disappointed that after lengthy deliberations, this decision appears to be reflected a flawed understanding of this market and the way the relevant Cloud technology actually works. So to me, this is a really fun way to say that they're stupid I Love this Like this is the most corporate billion dollar company to call an entire government an entire regulatory body stupid. So Applause for Brad Smith Chat Chat let's get those Applause going. It's not too often that you see a public display of calling an entire government stupid and yet Brad Smith pulled it off.

Um, which honestly as an investor I like it I like when the chair Vice chair and president of my company is a little bit more feisty. So I'm a fan of Brad and I'm a fan of him. We're especially disappointed that after lengthy deliberations, this decision appears to reflect a flawed understanding. Dude, they had a crack like do you think they use chat TBT To say that like very earnestly, do you think they went into Chat Gbt and said, how can we call someone stupid without calling them stupid Like using that word seems a little too derogatory and then it spit back, why don't you just say they have a flawed understanding We no longer have to call people stupid I'm in here and I know that sometimes I get a little aggressive and I say like hey, you have a single digit RQ blah blah blah but this is like the fancy way.

almost like that Winnie the Pooh meme of like where he goes from. Basically they're depicting a retard all the way up to someone who's fancy and it talks. This is the fancy way to say it. It's a flawed understanding.

So folks, if you're at work today I Know someone's watching this right now and you're already thinking about that email that you have to write to someone. Maybe it's a consulting firm? Maybe someone within your own team. Maybe it's a sister team at your business and something's not going on and you're already saying something like per my last email, like I know someone watching this is about to respond and you're getting angry because you feel like the person who's receiving the email is not understanding your point. You feel as if they are stupid.

Use this. Use this right here. This is perfect. Uh, it appears as if your statement is reflecting a flawed understanding in the situation.

It is so perfect because it's so clearly you're calling them stupid. but they can't call you out on it because obviously their comments appear a flawed understanding in the situation. I Think it's something we could all use more and um, honestly, this is the main thing I Wanted to share with you in today's show of Matt Core is live I Just wanted to talk about flawed understanding and how I think it could really help us all out a little bit so feel free to use it I Highly implore everyone to do so. Switching it up a little bit.

let's talk about the old alphabet Alphabet reports revenue and earnings beat for the first quarter. Uh, this is Google earnings a dollar Seventeen versus a dollar or seven Expected: a revenue of 69.79 billion versus an expectation of 68.9 billion. So Google Microsoft beating on top and bottom lines YouTube Advertising came in at 6.69 billion when they were expecting 6.6 So this is the first time in a couple quarters now that YouTube's advertising has actually beeped. Google Cloud Revenue Now this might seem maybe not really that exciting to you, but it kind of is a big deal.

Google Cloud Revenue 7.45 billion with an expectation and a 7.49 Now at first you're like, dude, why are you highlighting a number that like it seems as if it's a Miss Well, hang on, hold your horses. First of all, Alphabet authorizes a 70 billion dollar buyback that's always strong, that's always representing strength to the market. Because basically they're saying hey, we looked at our numbers and we want to buy our own stock, which is signaling to the world that it seems as if it's undervalued. Are they aren't they? Is this? sometimes just a corporate trick.

Is this sometimes a CEO's trick because their pay is based on the stock performance, so they want to jack up the stock Parts Yeah, sometimes. but my point is, generally this leads to in the short term, in the medium term, some positive enthusiasm if you will. But what's legitimately leading to positive enthusiasm is this right here: Google's Cloud business turns profitable for the first time on record if you're a Google investor, that's kind of a big freaking deal. Shout out to: Joseph Carlson Um I Just really like his show I Recommend you guys all check it out.

In the world of Finance it looks like Google Cloud posted its first profit ever. Investors should be very happy with this development. So right here: Google Cloud crush it actually brought in 191 Mill I Believe this is based in million? Yeah, Millions Uh, not bad. Went from losing 700 mil to making 191 mil just just a little bit a little 191 mil.

Um, so if you're a Google investor, that's definitely an exciting thing to be paying attention to. What's more exciting is burritos. Chipotle Mexican Girls restaurant traffic growth as the chain proves its pricing power. Well that's awesome.

Now let me dive into this. Uh, they were expecting 892 came in at 10.50 They were expecting a revenue of 2.34 Bill came in at 2.37 Build Uh, so you're seeing the pattern of the day. Microsoft be Google beat Chipotle B B B Things are looking good, at least with the recent batch of earnings, so maybe it helps out with the market. But one thing not helping out the market at all is fear in the world of banking.

particularly First Republic Bank I Think it's unfair to say that this contagion has spread to JP Morgan Bank of America Wells or city or anything like that. But first, Republic if you're like me and you are degenerate and you try to get in on the binary event, uh, odds are not looking good for us, but at least this situation has led to a really fun article. Title from CNBC Bankers Pitch To Save First Republic Help Us Now or pay more later. When it fails, you have to understand if you don't help us now, it just means you have a flawed understanding of the situation and you're going to end up paying more later when it fails because of your flawed understanding.

What a sick pitch. Imagine being at a company and in one way or another, you fumble it and then like you basically just disavow all blame Be like hey, I know I fucked up but you either need to help us or you're going to pay more later when it's really painful. That's so sick to me. It's so cool that when you're at this level of like, too big to fail, you just start blaming like you are socializing all losses.

but you are privatizing all gains. Like when it works out, you're like I crushed it I Saved this bank. Money Money money. Where's my compensation? But when it blows up in your face, uh, you better help us.

It's just flawed Unders, It's a flawed understanding. Um shares the First Republic dropped nearly 50 hits All Time Low If you haven't seen it and not even like the cool band all-time low like it's just actually talking about the price. Uh, yesterday it opened up down 40, vomited even more, ended out losing the day 50 and now it's vomiting. I Mean it dropped 49.4 yesterday.

Now it's down an additional 12.7 in pre-market trading. Brutal. Republic Losing about half of their value just in yesterday's session hitting an all-time low, The company reporting a massive drop in deposits much more than the street had been expecting and it now faces a critical few days. Cnbc.com's banking reporter Hugh son joins us right now to talk about how this Saga plays out and Hugh you've got some new reporting and a story that you just published that suggests the banks or that the First Republic is going to other Banks and saying help us or else well Becky it's good to be with you good morning so that is certainly the plan.

Uh, so my understanding from Bankers who are working on this situation uh, is that and this really piggybacks off of our uh David favors reporting from yesterday as you recall, which is that you know the banks were going to be asked to basically purchase bonds for more that they're currently worth. Uh, And so the pitch to these institutions and these are the institutions that have already put in 30 billion uh in deposits into First Republic to prop it up last month? Uh, Is that essentially if you don't do this? uh, if you don't essentially take a hit to the tune of uh, several billion dollars, Uh, this thing is going to go under. and if it does, uh, the FDIC receivership uh, costs that are going to be assessed on the big Banks predominantly will actually be far greater. We'll be in the ballpark of 30 billion dollars.

So uh, help us now or pay more later is going to be the pitch Becky So either pay more than you should for these lousy loans or we're just going to take the whole thing down I Mean that's that's crazy. What What does the government say about any of this? How are they involved? Are they pushing both sides? Yeah, so you know my understanding from the advisors is they are. they're going to need the government. They're going to need the the either the FED uh, theft FDIC or the White House to apply pressure to the banks.

Uh, predominantly just to get them to get together. So um, there's really a sense of uh, you know, the envirus is creating a sense of urgency. Uh, you know, obviously the stock is in free fall that that doesn't really help matters. Um, but really, the sense is from.

you know, from the backer side there's a window to fix this uh situation with First Republic which you know as we know has been treated as sort of the firewall. You know, if they can stand first for public up then the contagion is effectively contained. Uh, if not, then there are some questions there. So um, you know, certainly that that's going to be.

That's going to be the approach. And they're They're relying on the government to basically help them, you know, and and get them together. Uh, and get them in a room and try to coerce them to do this. What? I mean you're just looking at the banks at large.

probably would like to see some additional pain. This stock is already down 93 percent, but you're not coming to the rescue of the shareholders. You're probably interested in making sure the bank doesn't fail because you don't want it to go away entirely and create other potential problems on top of just the FDIC fees. But you also don't want these managers who got themselves in this position to come and say save us and our shares along the way and our shareholders.

So I spoke to several not all the the big banks that would be impacted by this. Some of them had not heard about this plan so it hadn't reached them yet. Uh, others had through you know, via David's great reporting yesterday and uh, they were reluctant. Uh, you know clearly if they buy some, if they overpay for a series of treasuries, munis, or mortgage loans from First Republic.

Uh, you know if they ever pay for those bonds, they have to recognize that hit right away. Uh, and that's not something that they're looking forward to. Uh, and secondarily, you know there is a lingering distrust of government government broker deals. Uh, because as you recall from 2008, you know they they.

You know they did a bunch of those uh M A deals and ended up costing them a lot more than they a lot more money than they had originally anticipated very quickly. Why the treasuries? Why is that part of this? I mean I Understand the mortgages I Understand munis. but isn't the F the FED kind of opening its window and saying that they will take all treasuries at face value? Well I Think the the issue is. you know this is part of the balance sheet of First Republic it's it's you know it's domiciled there.

Uh, you know if they pull it out, they have to recognize the losses. So uh, you know this is just you know that that's sort of the stew of the bonds that they have essentially the you know, the the bet that interest rates wouldn't fall that first Republic managers made, uh, wouldn't rise. uh, excuse me and you know that that clearly blew up on them Hugh Thank you Houston sorry about that. um I don't know how many of you noticed but during that video I I left and the reason I left is because I took a sip from a new espresso and I was feeling a little bit crazy when I ordered my last batch of Nespresso and I thought maybe it's interesting to get like a whiskey flavored one.

Well, it is interesting If you define the definition of interesting as absolutely fucking horrible to drink. Uh I drank it and I wanted to vomit. so in a fit of anger I ran out there, threw it in the sink and just made a different one that wasn't apparently whiskey flavored. So um, nothing wrong with Nespresso but I'm telling you, the whiskey infused bullshit.

Don't get it, it is horrible In fact I have a whole sleeve of it I just threw out one but if you guys want the rest of them, I will ship it to you because I don't need that shit and I'm definitely just gonna be throwing it out. Um, so I'm just going back to like a normal one now. My apologies, my apologize, my apologies, please accept, please accept. Anywho, where are we at? Uh, so you get the idea with First Republic things are not Bueno right now.

um I'm still in it I mean at this point it's so far down that I'm just I'm just sitting there and hoping it comes back. Little fun fact for you. If you guys are looking at the 2008 and 2009 financial crisis, there was one point that Citibank which what is that even trading at right now trading at 50. 48? It was trading at like 30 cents at one point.

So is that going to be FRC I Don't know. We'll see if it ends up Surviving We'll see if it ends up dying like I said I Have been very clear with all of you ever since the start of this: This is a super degenerate binary event. It either blows up, dies goes to zero, gets sold off for parts, or it gets stabilized. Everyone stops talking about it and it makes a recovery to above 100..

most likely this will not be a quick thing if you're thinking this was like a swing play for like a couple days a couple weeks. No, no, no, this takes time. Look at the recovery path of of city of Bank of America JP Morgan It all took serious serious serious time with it. It's binary I Don't see anything in the middle it right now.

it seems like the odds are like more so favoring the fact that it crashes and dies. But we'll see. uh. I Feel lucky that I was able to hedge things out by getting some puts on the market yesterday I got some degenerate spy puts I think they expire at the start of next week the end of next week.

So I'm pretty much hedged on it I Feel fortunate there. but man oh man is FRC just die die and die and dying. Uh, maybe it can survive I'm not I'm not saying it is I'm not saying it isn't but it's things are not looking the best for it right now. All right today.

Wednesday The 26th. As you can see, everything already came out at 8 30 a.m So in terms of Market events, we're not waiting for anything else to really happen today. Obviously, there's still other developments, but in terms of just macroeconomic reports I Do want to put on your radar that tomorrow 8 30 A.m the GDP report comes out where they are looking at two percent. Uh, we get pending home sales at 10 A.M And then on Friday we are getting the Pce report the personal consumption expenditures.

It's another inflation report. It's like the CPI report a little bit more broad, a little bit more timely. It's definitely an important report, especially as we're heading into next week. We have the Fomc meeting on Wednesday.

Well, the results of it? We get it at 2 p.m next. Wednesday Which basically means we're going to get the next update on what they're doing with the FED fund rate. Are we going up to five percent? Are we going up to 5.25 Are we going to stay the same? What are they going to say about banking? So we're gonna be seen. It's gonna take time.

so uh, pay attention to GDP Tomorrow, pay attention to Pce on Friday Speaking of macroeconomic events, the mortgage demand rebounds even as interest rates hit the highest level in over a month. Big surprise: the recent mortgage application numbers, the recent home sales all coming in higher than expected. Uh, so we're seeing some abnormal unexpected strength in the world of real estate. Just want to put that out there to all of you, especially if you're in the market.

Five things to know before that: Bell goes dignity ding ding ding today A Beautiful Wednesday April 26th It is hump day everyone's paying attention to First Republic Bank In terms of the banking sector right here bottom left of your screen and then everyone else is kind of paying attention to what's going on In the world of tech, we have Microsoft Crushing it Google actually kind of coming down uh Chipotle doing really well. Everyone's kind of wanting to see if it's going to get up to 2K So Chipotle Crushing it Microsoft Crushing it I'm actually surprised Google's not up a bit more right now, so pay attention to it obviously. GDP tomorrow Pce on Friday Microsoft's bullish report crushing it in Ai and still crushing it in Cloud alphabet's turn actually really crushing it now in cloud and doing a what was it a 60 or 70 excuse me 70 billion dollar buyback? Uh first Republic's fate we could come back to that. it got halted.

limit down hall not good. Who is this David Zal Zazlov Zazlov movie What is this one Warner Bros Put uh, quite the show Tuesday And Cinemacon The Big Industry Event Bubba Had high hopes for Barbie due in July Okay the flash I Don't even know how they're getting out. The flash isn't the guy who plays The Flash like just a crazy person now Ezra Something like wasn't he on the Run didn't he like kidnap some crazy stories? The fact that they're releasing the movie blows my mind. It's kind of like when they released that movie I Want to say it was named Billionaire Boys with Kevin Spacey after all the news related to Kevin Spacey broke and it just did absolutely horrible.

uh but the presentation wasn't a showcase, it was uh, his release strategy and Spotlight this company 16 movies this year, 20 movies a year ago. All right. So I guess could be good I I don't know I wasn't gonna watch the Barbie movie but the fact that Margot Robbie is in it I like her so maybe I'll watch it. Uh, this has nothing to do with the market and it has nothing to do with really anything at all.

Uh, but I get to see an early screening of the new Guardians of the Galaxy next week. so I'm pretty stoked about that. Once again, nothing to do with the market I just wanted to share it with you to keep our para social relationship going. With all that being said, dignity ding ding ding.

The casino is open. Best of luck to all. Play responsibly and if not, have fun, that's the name of the game folks. When we're setting the bar this low, the only bar we really need to clear is having fun.

Don't worry about losing life-changing money. Don't don't focus on that. That's not going to make you feel good. Focus on just having fun with all your friends in chat here.

Speaking of chat chat, you haven't done it yet. What are your thoughts on the day? What are your thoughts? Are you vote in red? Are you voting green? I Need it? I Need thumbs up I need thumbs down. Which way is the market going to go from Market open to Market close? Are we going green? Are we going red? I'm not saying that folks. if you don't vote, I'm gonna have to fire you as my financial advisor.

And remember, if I fire you as my financial advisors, you're sure as fuck not gonna get any more gold stars. Uh FRC to run rapid, uh, unscheduled disassembly. Is that where FRC is going? I I mean I'm watching. This is brutal for me I've been at 42.

I'm getting so screwed. The only savings Grace is the fact that I have spy puts so at least I made a little bit of money off that red purple, red, green, reddish green green green green red gold star for me. Definitely, if we're not giving out gold stars, we're definitely not giving out red gold stars. Microsoft Not wanting to hold its gain here I think my cost base is not Microsoft is like 185 maybe 190.

I've just been crushing this one. It's been like I'm not saying I got into it recently I've been in it for like a couple years now, but it's always fun. Like when something over the long term ends up working out for you. It's always nice just collecting the dividend.

collecting them gains. it's just an easy one. Same thing with UNH UNH and Microsoft have been kind of the easiest ones for me because I just got into them a handful of years ago. I got the direction right and in the meantime I've just been collecting dividends I think I got in here 2019 2020 somewhere in here.

Um, that's when I got you and actually was it it was I Want to say 300 is roughly my cost basis. Um, so not only a nice percentage gain, but every single quarter just collecting dividends collecting dividends. Uh, United Health Group one of the biggest Insurance plays in the US and then obviously Microsoft is Microsoft uh Chipotle I mean must have had a good energizing burrito this morning because it is absolutely continuing. Rip City Chipotle is up nine percent are any of you in Chipotle I mean I wish my in this day I Don't want to get distracted by the new novel toy my heart lives with Texas Roadhouse I can't I can't all of a sudden become a Chipotle Fanboy I respect Chipotle I like Chipotle but it doesn't have the same emotional pull for me that Texas Roadhouse does I still like it? It's still great I Enjoy my time at Chipotle I Really like their chips I Really like their guac I Really like their burritos I Like the Ambiance It's fun.

It's fun to see some 16 year old who doesn't give a shit about the job. They're just doing it because their parent told them to. When you're like, yo give me extra rice, yo give me extra chicken, don't forget about the corn and salsa And then all of a sudden they just have one little burrito wrap and they're trying to wrap all this mountain of food that you told them to put there and they're about to break it and they know they're about to break it and they look you in the eyes and they don't say anything but they're looking at you and they're like I'm about to break this and you're like it's okay. And then you see that sigh of relief because they're there worried about if they're getting invited to prom, they don't know if they're passing biology test, and they also don't know if their parents are about to get a divorce.

So they have everything going on in their mind and you could be the person who pushes them over the edge just because they broke your burrito. But you don't because you're a good person and you look at them in the eyes and you don't say anything. It's all a non-verbal conversation and you just let them know it's going to be. A-Okay It will be a Okay, That's probably my favorite thing about.

Chipotle There's so many different things going on that it's always an adventure. If you will. Always always an adventure. Amy Brock I'm a bit late.

Why is Crypto ripping? well? Amy I'll let chat talk to you about the fact that you just gotta demerit you. You are willingly stating to the entire class this morning that you're getting a demerit. and that's all right. I'm not going to hold information from you, but this will go on your official record.

Crypto is ripping because banks are failing. namely. FRC But yeah, Crypto is absolutely. Rip City Right now.

Bitcoin Exploding from 27k up to it actually tagged 30k. You have Ethereum exploding from 1800 to 1960. Great year. Um, but what happens when Banks fail Gold goes up.

Crypto goes up and more. So crypto gold hasn't really exploded on this. We could check in on the Futures Market It's kind of going flat. Um, that's not the right one.

That's not the right. Here we go: Gold. It's actually holding 2000 really strong. I Mean it's a giant inverse shoulder head, shoulder cup handle.

whatever you want to call it call it gold is rocking Rock And rock. And rocking. It exploded. Broke right above.

fake out breakout Key Technical level Key Psychological level 2000 Got knocked down a little bit now trying to recover above it and obviously there's going to be an inflow into quote unquote: Safe Haven assets such as burritos and Gold when banks are failing any chance BBY pops anytime soon because of the final Crash and Burn Talking day trading plan here: I mean when you're talking day trading like such a short time frame, anything can happen I'm not gonna sit here and say yeah like the odds like I don't think the odds are good if I had to play I mean I've been talking about Bed Bath now for basically ever since August September when Ryan Cohen got out bedpath. Since that period has been a short play. Could there be like a random pop like we saw here? Yeah, of course it could happen, but you should be in this too. Always stack the odds in your favor.

If anything, you should look at that pop, wait for it to be over, and then try to play it back down because we know this thing is going to bankruptcy. Maybe maybe there's a snowball's chance in hell it can avoid it. But I mean I can't call it inevitable, but it's as close to inevitable as you can get without actually saying that word like there's no way I would be trying to play it to the long side I would look for the Pops to bet against I Know some people have moral qualms FRC Looks like it was halted probably a five minute Hall Uh, volatility Hall A limit down hall? um I Know people have moral qualms with shorting I don't It's called making money if you have a bearish thesis and you're confident enough, it put it where your money amount, where money, where your mouth is and bet down. Uh I Think with the rise of retail that was specifically prompted by GameStop and all that like there's a really bad taste in people's mouths for shorting but understand that shorts a lot of them are the like hardcore investigative journalists that find out companies are completely fraudulent like.

I don't want that to go away. If we did not have shorting, we would not like there would be a lot of corrupt companies that are still doing corrupt things. um. I Don't have moral issues with shorting I have moral issues with manipulative shorting but that's because I have moral issues with any manipulation because it's illegal.

But if you are following the rules of the road and just shorting because you think things are going to go down I Don't whatever. Best of luck I Hope you make money. You're wearing shorts right now. Butt Stuff 24 7's wearing shorts right now.

That's crazy. Do you wear your shorts above or below your knee? uh, mine are I'm wearing short shorts right now from bonobos I Don't know, can you guys see these pretty short? The knees are. these are my knees. Those This is how this is.

Uh, this is the differential right here. We have a good four inch difference between my knee and the bottom of my shorts, so it's a pretty short short. It feels dangerous. feels pretty dangerous Dude someone commented thick.

AF You know it man, you know it. You should have seen the squatting complex I Did yesterday. Honestly, my legs are still on fire I can't like stretch them like. you know sometimes when you just overdo it too much and you just know you ripped all of your muscles and they're taking a little bit longer to recover.

That's where I'm at. I'm hobbling around like a geriatric I look like Biden trying to get to his micro microphone stand. Uh, it's a brutal situation. Next thing is Matt in a hot tub stream I Want to be a hot tub streamer? Uh, I'm not saying this is necessarily safe for work, but how does anyone get in trouble on Twitch for like, sexual content when they allow hot tub streaming? Literally, hot tub streaming is a bunch of albeit attractive women who are just sitting there and like in a hot tub or near a hot tub and they're every five.

Subs I do five squats and they're just like in the whatever bikini and whatever all the power to them. If I was a hot woman I would 100 be doing that like no knock on the game I'm just saying I Guess you got to play the cards you were dealt and I was not dealt pocket aces I was not dealt pocket aces I wish I was oh FRC Second haul of the day up Upset. Fuck me man. it's that stupid whiskey espresso.

Stupid whiskey espresso. Did you guys know I Found a little fact because we're here to talk about business and numbers and all that good stuff. Um, do you guys know who the number one subscribed only fans person is? Do you know this topless weather? Yeah, when the summer starts, we're going to start doing topless streams outside in. New York I'm excited for it Justin Talon Are you telling on me for swearing? Don't tell on me.

Joe Biden is not the number one subscribed only fans. but Tron that is a solid guess. Danny DeVito Also, you guys are up there like you're You're both picking very high people but it is not. Joe Biden it is not.

Danny DeVito uh Jim Cramer he's actually not even in the top ten. More cussing please. I'll probably get uh. Amaranth? Yeah, who knew T T Man's Abel full.

Where am I supposed to put the brakes in your name? Abel T-man's ableful. Yeah, so Amaranth, who's a twitch streamer? Uh, very well known in the hot tub stream. You might have known her from some of the controversy that was caused by the fact that her husband slash manager maybe was a boyfriend. was like a psychotic, controlling freak who controlled like her schedule her finances like it was a super crazy crazy sad story.

Um, but that lady, uh, apparently she's the number one subscribe only fans person which makes me believe she has to be bringing in Crazy amounts of money. Crazy amounts of money Black China So um, this is the number one subscriber I'm not saying the most paid I believe Blac Chyna is the highest grossing person on it, at least from when I saw it. but that doesn't necessarily. she could just be charging way way more but have less people.

Uh Karina comp I don't know where she would be your mom? Hey, that's not. Hey, that's not nice. Don't you say that about my mom? Hey, that's not nice. Oh a missed call? Who could it be? Um, she makes a mill a month she said last year, who makes a meal a month Black China or amaranth And that's just from one thing.

like imagine the money that they're just pulling in. What would we even beat if if you made a mill a month, what would you be doing with your life like that is just so incredibly crazy to me. It's one thing if you're making a meal a month, but you're some like fancy CEO executive and you get a big bonus payment at the end of the year and like you're just a super type A personality and you're in that world. But imagine just being like a content creator.

make it a meal a month and you're just like yeah I take pictures of my tits like whatever charity that's very altruistic of you I I was going to share what I was going to do Oh now you guys are building like animal shelters and stuff college for at least three people? Yeah no it. I'm just not gonna say what I was gonna do because you guys are all like apparently really good humans and I'm gonna feel bad if I say what I was gonna say Robbie knows what's up Robbie just said drugs. Lots and lots of drugs I feel like I'll just have this conversation with Robbie alone because there's too many Good Samaritans in here. How does Matt buy crypto? New York um well there are some exchanges that work here such as: Gemini um, did Coinbase ever get clearance here? I don't know I actually haven't purchased any new crypto in a while I've just been sitting on it and recently I've been in PA I've been in Virginia like over the past couple of years so super easy there.

even though I'm in New York now I mean there's still ways to get it. It's like not that hard is the NASDAQ index Frozen or something? CNBC hasn't updated it? Well, we'll update it. You want to see my update of it? the new CNBC we're coming for CNBC right on the I Want to slow it down? just a tab. just just a little bit.

Feels like I feel like if it goes fast, it almost prompts more anxiety in here. and I Don't want you guys to get anxious. we'll slow it down. but we have the NASDAQ We have the cues.

We have all that good stuff you don't need CNBC That should be my number one goal if you guys ask me for my business plan. Matt What are you doing? What do you aspire to do in this world? I'm just going to take out CNBC and I'm gonna rename the Mad Money show Sad Money. It'll just be called Sad Money with Matt actually I Feel like that's a good idea? Should I pitch that to CNBC I'm thinking sad Money with your host Matt Cores and it's an hour of people just calling in sharing their lost porn of like how much money they lost that day or that week and how it like ruined their life. So like a super super sad, depressing messed up show of how like money ruins a lot of people, a lot of families, a lot of companies.

um sad money sad Money with your host Matt Cores a lot of tissues, a lot of crying like I'll be and I think I'm a good host for it because I'm so good at advice, especially relationship advice. but I could just give them life advice as long as you're in the hot tub while doing it. Yeah, obviously it would be somewhat of a hot tub stream hosted at. Texas Roadhouse Yeah, it's me.

Riley Reed Hot tub Texas Roadhouse Talking to people about the worst financial decisions they've ever ever made? What's your honest opinion on Doge It's just a meme coin. Obviously, it could take off like I don't look at if I think of it really. I it's closest to a currency. not like a long-term investment like I would think of it as a currency, but it all depends on.

like will the troll Community get behind it again? That's what matters for Doge Will it be popular? If more and more people talk about it? well then it gives it some life. But if no one's talking about it, it's not going to do anything which is unlike gold or silver really even. Bitcoin At this point people stop talking about it's still gonna like have a supportive base from just like an economic standpoint. That's not true in my opinion with Doge Doge Works have everyone's talking about it if Twitter's making jokes about it.

if Elon's making jokes, the more it's in front of people's faces, the better I think it'll do. but I don't know. The popularity of Doge is really really dropped off, which I mean is almost perfectly correlated with the drop off in the price I mean it kind of I don't know how many of you guys remember what was it a year ago at this point? or was it two years ago Two years ago when Elon went on to SNL and he basically he just said it was a Hustle uh Google Trends Doge Doge uh past 12 months so we saw a spike I guess in October for whatever reason, recently spiked when crypto went up. Uh, but if you zoom out, you're gonna notice that it's very like see how it's just kind of dying.

You need it to become way more popular like this is when everything was ripping. Everyone was stoked. it was ripped into the High Heavens and ever since then just dead dead dead. uh in a weird way you can see this with uh Sheba same thing Sheba like not even spiking recently.

Uh, but you could even see this in the popularity of AMC uh, spiked in 2021. Now no one's interested in it. uh Jimmy Like these are like the meme things like Jimmy huge Spike kind of coming down. um bed bath I Wonder if this is spiking recently because the bankruptcy? Yeah, so this spiked.

Uh well this is when Cohen got out. Everyone was searching it then and now it's turning right back up because of like the bankruptcy and people wanting to know what's going on. Let's look up FRC Probably huge now. Yeah FRC massive.

What was the FRC relative to something like Doge way smaller. So FRC is in blue and actually Doge is currently being searched more than Frcs being searched right now. So with Doge it just needs to be popular in the masses. and then I think it could survive.

But other than that, like I don't think it has long-term value in terms of an investment. It's closest thing just because of how it is set up is literally just to be thought of as a currency. But if we are going in the way of a digital currency, uh, there's some technical issues that Doge has that I think people would just end up flocking to a different crypto, but we'll see I mean I still have some I'm not against it because I understand the power of a populist movement for sure, but right now it's just not popular. One thing you need to be successful in a populist movement is to be popular.

Um, it's so dumb it must work. Yeah, and that's why people like it because it is the ultimate troll thing. So for these ultimate troll things to work, you need people. like in on the troll.

And right now, where's Doge Even at um, recently, the obsession with it has kind of waned off. I Mean it's trading it. It just hasn't done anything in a while. Yeah, actually kind of got murked ever since the SNL but just kind of goi