Foreign. No, No no no no no no no no no no no no, no more Foreign Foreign. What is going on? Moon Gang Welcome back to another episode of the Matt core show. I'm so happy you could tune in. We got a big show planned for you. Couple things to get into, couple exciting things to get into the world's number one most impressive, most legendary Trader appears to be packing their bags and we're going to be talking about that. And of course I'm referring to Pelosi stepping down so it'll be exciting to see where this all goes and then after that we have some truly insane. In fact, I was before this I had some free time so I was cracking open the old thesaurus to find a word like insane. That's more insane than insane because that's the perfect word for what currently is now going on with FDX I Know we've been talking about crypto and FTX and the Meltdown the Bernie Madoff of our time, but looking into the most recent court filings, you're about to find out that it's worse than that. It's more insane than insane. It's insane. cubed. I don't know what the proper word is, but it is. Bonkers it does not make sense and I gotta share some of my favorite parts of what truly went down. and then from there we're gonna get into some little odd stories here and there that maybe you miss throughout the day related to or boy. Bieber What's going on with Elon Jack Dorsey We have some Taylor Swift stuff. so as you can tell, a fully jam-packed show for you that I really really think you're gonna enjoy before we get into all that. Two important things as always, don't forget to hit that like button helps with the algorithm on YouTube helps with the battle Leaderboard on Rumble And if you enjoy this type of content, if you want to become a goonie, make sure you're subscribing and also very quickly a shout out to today's stream sponsor pinned to the top of chat in the description of the video I am talking about Enviro cleanse a little bit on them a little bit later in the show, but obviously a very warm welcome to them and a special shout out. and with all that actually no a third surprise thing. A very quick third surprise thing as we're waiting for some people to tune in. here is the lighting better. Did I do the lighting better? Do you like the setup I move the moon man and his books and the lighting did I do it? Did I do it right? or do I still look like I have John this Anyway, let me know in a comment below let me know: I don't want to really completely derail Today's Show So with all that being said, let's get ready to rumble. Market Kind of an interesting day the overall: Market The S P 500 gapped down because there was a non-voting Fed member yesterday who's like hey, maybe we're going to raise interest rates to seven percent which that's an extraordinarily High terminal rate That would put a lot of pressure. that's why there was a gap down. and on top of that in England the UK Yes, we are at a four decade high level of inflation over there and they're doing new tax cuts, but as things started to settle today, you can see that we made a pretty impressive rally back to at least our lows of yesterday. Another way to put that is the S P 500 NASDAQ Closed lower for a second day. As investors way Fed officials comments, those were the comments that were being weighed. You had a non-voting member who apparently was off their complete rocker. like we might go to seven percent folks. right now we're in the range of four with the terminal rate kind of assumed to be at five five. So the seven percent commentary on on top of the tax cuts that were just announced in the UK particularly Britain everyone's like, what are you smoking brother and then as things calm down and the other Fed members like whoa, dude, uh, the market kind of took that in and said all right, this guy is just a complete Joker Which led to once again another Christmas-esque scenario. Very red, Very green depends on the sectors you're in. Just so you know, later on the show, we're going to talk a little bit more about these consumer defensives. And it seems like as if we have the Smoking Gun of why Walmart's doing so well. And yet Target is doing so poorly. And in the world of Crypto just because it has been the hot news recently, still strongly holding on Bitcoin, Ethereum doing its thing 16-6 1200 A quick look at that Uh, very. this is a class classic excuse me consolidation pattern lower highs, higher lows, classic wedge. you wait for the breakout. To the upside. the breakdown to the downside. You play it accordingly. This is consolidation. You just have to wait for it to end. and then obviously whatever way it breaks is most likely indicative of the way it's gonna Trend next. Now as you know, we have a lot to get into. but before we all do that I Want to share some maybe fun things you missed on the internet today because I think it's the best way to start the Mac course show I Don't think there's particularly volume on this, but I'll turn it on just in case. This is apparently the winner of the Darwin Awards and three two one. Oh, you could just feel that Any guy watching this right now you know the pain. The winner of the Darwin Awards just went through a little bit more to something out of this world. Uh, the James Webb Space telescope's newly released image of a star forming I Don't know I I Find something about this stuff to be so cool that we have such an interesting look into deep space and the things going on. the colors are impressive. Uh I don't know something about it I Think being a human, this type of stuff is interesting. It's intriguing. And speaking of stars, that leads us to the third story that maybe you missed, but you didn't miss it. If you have a girlfriend, a wife, daughters, the insanity is continuing in the Taylor Swift story. Taylor Swift Public ticket sale on Friday is canceled Ticketmaster says but the secondary Market can be buyer beware. So apparently in one day Taylor Swift sold over 2 million tickets. This gal this star is on the way to selling out 40 potentially 50 nights of Arena Stadium Stuff This is record breaking to a massive degree. She is so popular the demand for this is so incredibly High It took down apparently the Monopoly of Ticketmaster to the degree that like dude, we don't even know, we don't We can't handle this anymore. We don't have enough Engineers to handle what's going on. Good Luck Good Luck on the secondary Market where earlier today I was checking some front row tickets. they're going for as high as 40 50 000 for a ticket? That is insane. So those are just the three things that maybe you missed on the internet today. And with all that being said, that gives us the opportunity to get into to today's big story. I'm here to unfortunately report to all of you that the world's most impressive, most decorated, most legendary Trader That Wall Street has ever had the pleasure to do business with. Nancy Pelosi is stepping down and you have to hear it from her mouth herself. Here we go of San Francisco This I will continue to do as a member of the House Speaking for the people of San Francisco Serving the great state of California and defending our constitution and with great confidence in our caucus I Will not seek reelection to Democratic Leadership in the next Congress will not. For me, the hours come for a new generation to lead the Democratic caucus that I so deeply respect and I'm grateful that so many are ready and willing to shoulder this awesome responsibility. Madam Speaker standing here today I'm endlessly grateful for all of life's blessings of San Francisco Most of those blessings were most likely her giving her private Insider information from the government to her husband Paul where he executed some extraordinary, impressive trades Nancy Pelosi to step down his house Democratic leader after two decades with GOP set to take narrow minority excuse me majority Pelosi Speaking on the house floor said she will remain a member of Congress and serve out the term to which she just elected. Well, sounds like maybe she's not really hanging up the old trading at no longer the Speaker of the house, but still very important within politics. So for all those of you who maybe when I got rocking with this, you panicked. You're like, whose trade alerts are we gonna possibly be following now? Well, luckily for you, she will remain a Congress and serve out the term to which she was just selected. So she's going to be in there for a bit more so you gotta make hay while the sun shines. One interesting thing I Found about this because it seems like almost all of our elected officials are older than time itself. Top: Democratic House leaders will become 31 years younger on average. Do you know mathematically how Wild that has to be for it to drop? I Mean why are we electing people who are literally geriatrics? We need People who are mentally put together or physically strong are ready to lead the world's most powerful nation. and now this just actually like to drop it by 31 years? Do appreciate how old that means the average politician has to be. that's wild. A little bit of a side tangent, but as of now, even though she's not really hanging up her cleats quite yet I Thought we could do a little bit of a walk down memory lane of the legendary training family of the Pelosi's see every stock trade house Speaker Nancy Pelosi's husband Paul Pelosi has made since 2021. this isn't even the whole shebang, this is just recently and of course you can find this on. Business Insider I Implore you I beg of you to do a little bit more research yourself. I'm just going to give you the highlights of absolutely destroying it on: Alliance Bernstein Google AKA Alphabet Amazon American Express apple Look at this some of our favorites: Micron Microsoft Nvidia PayPal You have ROBLOX you have Salesforce you have slack Tesla Visa Walt Disney Warner Brothers that's that's honestly if I had a towel below me and a completely real girlfriend who wouldn't freak out if I dumped my tea on my carpet right now I'd pour one out for the family. That is just such an impressive track record. Just nothing like the American way of getting voted into office by your constituents and then using your position to line your pockets and improve your own financial situation. That's just American to a team. Well, fortunately, it seems like we have a couple more years with her. A couple more years to see what she's doing with her information and what her husband's doing with his trading account. But hey, the good ones come and they go. and I think I need to take this moment to emotionally prepare you and myself that one day her Reign the Pelosi family reign of being the best Traders on this side of the Mississippi is one day gonna come to an end, so please prepare yourself for it. and in the meantime I would love to know your thoughts in a comment below before we move on to our next big story. A shout out to Enviro Cleanse! Yes, this is pinned to the top of chat. it's in the description of the video they are today's stream sponsor Fast and free shipping us made 30-day returns non-toxic patented technology. So the main thing that I've been using from Enviro Cleanse is right here: their air purifier. It is no secret that some days I sound nasally and that's because your boy suffers from allergies and I also don't have the discipline to not hang out with a cat or a dog if I see one and I just deal with my allergies. So this bad boy right here this air purifier. It helps with allergies, but then also from a biology standpoint. things much smaller such as viruses and germs which will help filter those out of wherever you are. This is exactly why it's trusted in hundreds of thousands of classrooms. This is exactly why it's trusted in many government buildings on submarines. Check it out, you could use the code Matt for 10 off and beyond that, they have a lot of other cool stuff right here. I've been using some of their wipes. they have carpet Refreshers Odor eliminator A lot of cool stuff pinned to the top of chat in the description of the video. Shout out to Enviro Cleanse for sponsoring today's stream I know I know I know I Know folks, The entire Financial media cycle as of recent has been dominated by FTX and particularly the insanity of the previous CEO the psychopath Sam Bankman Freed Every day You ask yourself, there's no way it can top the previous day's news. Well, another day has come and we didn't just top what's been going on recently. We are so far into the world of insanity. if I didn't read the court filings myself, I would have never believed what just went down. You gotta check this out so to kick it off. quick reminder: Sam Bakeman Freed basically was using a bunch of his clients funds at FTX use those guns at Alameda his hedge fund and then was chasing some bad bets and got himself further and further into a hole. This is classic fraud I Wouldn't say it's so specific to crypto, but this is really an Old-fashioned He was running a bank. it just happened to be a crypto Bank in exchange and then he kind of just went completely Haywire with it. But anyway, recently just chilling in the Bahamas just enjoying the sunshine acting as if just because of his actions, billions of dollars didn't disappear into the ether. Well check this out. Emojis for expenses, penthouses, and slip shot accounting The most damning details from the new Ftx's CEOs report When I read this I went over their details and I knew I needed to read it for myself. But instantaneously we saw Wild headlines Sam Bakeman Feeding Company. Uh, he owns a 3.3 billion in loans from his Alameda trading firm according to the filing. On top of that, a new bankruptcy filing shows that the value of FTX is crypto Holdings is just 659 000 after the embarrassed CEO SBF said they were worth 5.5 Well, that's pretty awkward. FTS suggests Sam Bakeman free transferred acids to the Bahamas government custody after the bankruptcy and right away you start looking into that and you're like dude, is he using client funds to pay off a government entity so they don't extradite them back into the U.S or the Bahamas government or Regulators now in on this, are they getting their slice of the pie I mean this was literally breaking news just before we started today's stream. just in FDX co-founder files emergency legal document alleging Bahamas Regulators instructed Sam Bankman freed to transfer company assets to the government. Is the government now involved in it? Like I'm saying this story is just getting so wild. It's going to be a multi-part documentary to possibly explain everything that is going on. But what? I need to show? you are some of my absolute favorite parts of the bankruptcy court filing. So right here this is District of Delaware we have John J Ray III This guy's a heavy hitter. He's the dude who helped do the restructuring of like Enron This is a very serious guy. You call him in when part of your financial sector is probably completely on tilt like this is a very serious dude who is currently the acting CEO for FTX trying to figure out the restructuring and this is I would say kind of his legal SEC lawyer diary rendition of the current state of FTX And as you're going to see as I continue through each one, your jaw is going to get closer and closer and closer to the floor because it is truly that Bonkers that out of this world. So starting off right here this is from John Ray the guy trying to fix this entire debacle. Never in my career have I seen such a complete failure of corporate controls in such a complete absence of trustworthy financial information as occurred here. From compromised systems of Integrity faulty regulatory oversight board to the concentration of controls in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented. Let me remind you, these are the words from the guy that handled the entire Enron crisis. He is saying. this is so far beyond that that it's unprecedented before. I made analogies of it's the Modern Day Enron It's the Modern Day Bernie Madoff And little did I know that I was wrong, but I was wrong in the wrong direction. It's even worse than that. You have to appreciate how truly insane that is and that's exactly why I need to show you some of my favorites. so: Numero Uno out of the gate related party loans receivable of 4.1 billion with a B at Alameda research remember that's a hedge fund that was kind of the sister company that apparently there was no distinction between the two, even though legally there was supposed to be. So anyway, just in terms of loans, they gave our boy Sam Bateman Freed just just one billion. A cool one billion to the CEO just to do whatever he needs with because hey, he needs some pocket money. Why not? You might think that's insane, but as you're about to find out, you almost wish it just stopped there. In fact, as I'm scrolling through this awkwardly, I'll make sure this is linked in the description of the video so you can read it for yourself. These are just, you know. my favorite Parts The FTX groups approach to Human Resources combined employees of various entities and outside contractors with unclear records and lines of responsibility. At this time, the debtors have been unable to prepare a complete list of who worked for FTX group as of the petition date or the terms of their employment. Repeated attempts to locate certain presumed employees to confirm their status have been unsuccessful to date. They don't even know who worked for the company whatsoever. They don't know what they did, what was going on. The human resource department Completely non-existent. The debtors did not have the type of disbursement controls that I believe are appropriate for business. Enterprise For example, employees of the FTX group submitted payment requests through an online chat platform were a disparate group of Supervisors approved this disbursements for responding with personalized emojis. So they're like hey man, I need some money because I just bought a random thing and they're like cool but they didn't even say cool with the letters. they just hit them with an emoji and covered the bill And it was completely random in the Bahamas I Understand that corporate funds of the FTX group were used to purchase homes and other personal items for employees and advisors. This one is so big that I need to repeat it one more time in the Bahamas I Understand that corporate funds of the FTX group were used to purchase homes and other personal items for employees and advisors. I Understand that there does not appear to be documentation of certain of these transactions as loans and that certain real estate was recorded in the personal name of these employees and advisors on records of the Bahamas. This is just getting so stupidly wild. The FDX group did not approach keep appropriate books or records or security controls with respect to digital assets. This is a crypto Big. This is a crypto exchange that was not keeping track of the digital assets that they had the use of software to conceal the misuse of customer funds. The secret exemption of Alameda from certain aspects of Ftxs.com Auto Liquidation protocol, and the absence of independent governance as between Alameda and also Ftx.com Silo So right here the secret software. So the rest of the world didn't know they were misusing customer funds. Alameda When other people get stomped out because of like their leverage, it's being too bad Alameda had an exception. They were never going to get margin called or stomped out or anything like that. and just clearly we already knew this. But like there was just there was supposed to be independent businesses FTX On one side. Alameda Two independent businesses. And here is like there was literally no difference between the two. These balances exclude cryptocurrency not currently under the debtor's control as a result of at least 372 million of unauthorized transfers initiated on the petition date. So basically they filed for banks of ruptcy and 372 million just just poof disappeared, Gone just that. That's just wow. Basically almost 400 million was taken at the last second during which the time the debtors immediately began moving cryptocurrency into Cold Storage to mitigate the risk of to the remaining cryptocurrency that was accessible at that time. It's just folks I Don't know how much more I need to read to you for everyone to like, truly understand the size of Fraud and psychopathy that was going on in this. The FDX group had billions in Investments Other than cryptocurrency as suggested above in the descriptions of the four Silos, However, the main companies in the Almeda Silo and the adventure Silo did not keep complete books and records of their Investments and Activities notebooks no accounting Investments activities digital Assets In just nowhere, it does not exist. One of the most pervasive failures of the Ftx.com business, in particular is the absence of lasting records of decision making. The previous CEO Bateman Freed often communicated by using applications that were set to Auto delete after a short period of time and encourage employees to do the same. if that's not Sus I don't know what is and then finally, the crowning explanation to all of us. the crowning detail that you need to know about this story. Finally and critically, the debtors have made clear to employees and the public that the previous CEO Bateman Freed is not employed by the debtors and does not speak for the for them. Bakeman Freed currently in the Bahamas continues to make erratic and misleading public statements Mr Bakeman Freed whose connections and financial Holdings in the Bahamas remain unclear to me. Recently stated to a reporter on Twitter F Regulators they make everything worse and suggested the next step for him was to win a jurisdictional battle versus Delaware F Regulators That's the big old statement F Regulators After committing potentially one of the biggest cases of fraud ever known to man, the official comment on it is F Regulators Now, with all this Insanity, you might be thinking to yourself, why is he not arrested? Well, a little bit of an update on that Manhattan U.S attorney's Office preparing criminal charges against SBF and FTX for defrauding customers. So as of now he is not in prison. he does not have handcuffs on. In fact, he's not even in the country. He's expected to come in December to do various panels with Congress house committee and a senate committee. But is it going to happen I have absolutely no clue it should happen if you ask me and obviously I want to get your thoughts in a comment bow the twists and turns that this is taking I Can tell you I will be the first person in line to watch the documentary that is made of this pure unadulterated insanity somewhat related to the world of crypto. Here, a Winklevoss run crypto operation has frozen 700 million in client withdrawals as it becomes ensnared in the FTX disaster. So the Winkle lies if that's what you call two twins who are mountains of men. They uh run Gemini The Gemini had an earned program that was run by Genesis Genesis is on the hook for many, many millions of dollars because of FTX So basically FTX went kaput which means Genesis when can put and now you can see as this contagion spreads, people are wondering okay, is it going to impact Gemini And right now it looks like 700 million is Frozen Uh, we don't know what's going on, we don't know who has what money they said they're going to let us know in the coming days, but this does not seem to be good and this is also the appropriate time for once again for me to remind you I Like Crypto I'm still bullish on Bitcoin in the long term, but it doesn't matter where you're buying crypto as I alluded to before with FTX I don't know how many times I can Hammer this home I feel embarrassed that I was associated with him previously I have been a partner with FTX I did my research on them I thought I did an appropriate amount of research and right now seeing what's coming out I don't think there's anything I could have done to know how rampant the fraud was, but that is embarrassing to me on a very personal level that I was in any way associated with them. But I do the one one like little modicum of thing I feel positive about is if people had listened to me of self-custody right now, you would still be A-Okay you would be A-Okay In fact, I never really even left any crypto on FTX because I always thought self-custody and whether it was digital assets or Fiat currency, always taking my money off. So please take that lesson forward with you. Any exchange, Do Not leave your Crypto there. Self-custody is the way to go. Bring it on to your own wallet. a hot wallet such as Meta Mask or Trust wallet, or bring into a cold wallet such as whatever Ledger that I use The Ledger Nano X I Don't care who you use, do Not keep your crypto on Exchange The yield products. The interest payments are simply not worth it. And speaking of that, I Obviously am well aware that many people are losing a lot of money and not exactly because of FTX. But our boy Bieber is down and he's down over a million. Justin Bieber Bought a board ape nft in January for 1.3 million. That's likely worth about 70k in the wake of the FTX collab. Well, maybe that's just why he's not buying some better fitting clothes I suppose. But yeah, our boy Bieber Taking a big hit because of this whole crypto. Moving on to the overall market in terms of macroeconomic reports, today, we got initial jobless claims pretty much in line. Same with building permits. same with housing starts. Uh, we're going to be talking about this in a hot second. but the world of housing, it is calming down, which is a good thing. The mortgage rates are taking a little bit of a breather. So we're we're really housing in general. The whole thing, we're seeing a bit of a breather. Not just mortgage rates, but rents and all that. So we're going to be getting into that. We had more Fed members speaking last night. This is when it was kind of coming out that like the whole seven percent thing early this morning. That kind of calmed down as the day went on. Uh, tomorrow. Which don't forget, is payday. Friday So the shrim's going to be starting at 9am around 10, 10, 30. We're giving away another thousand dollars. Be there. Join the stream. That's when the money's giving away If you want an opportunity in this. uh, the only thing you really have to do to be eligible is sign up for attendees. Be a member of attendees. It is in the description of the video. It is free to sign up. Nothing like that. No credit card or anything like that at all. But shout out to Tennies, make sure you're on the platform. Description of the video literally right under the word tendies. Sign Up So you can be eligible to win the thousand dollars in Payday tomorrow. But anyway, also tomorrow, we're gonna get the existing home sales and more Fed stuff. Is it important? Yes. But is it like massively impactful? It depends on what the FED members say, but in terms of just the pure macroeconomic reports, nothing too too crazy between today and tomorrow. U.S Tax Fallen Comments from Fed officials Dash Hopes for a pivot on Ray kites This is. this is just always blowing my freaking mind. Every single time the Market's like dude, the Fed's gonna pivot they don't All of a sudden we get a little bit of a pop in the market and then one of the FED members has to come out and it's like hey, uh, why are you thinking that inflation is still 4X where it should be You guys are getting ahead of yourself and then the Market's like oh shucks, we forgot about that I I Don't get it. The people get this idea that they're gonna pivot. They're gonna pivot right now. There's no indication that they're even gonna pivot in 2023. Most likely they're going to go up. probably gonna get 50 bips in mid-December December 13th and then probably another 25 bibs to kick off 2023. And then there's a good chance we just Flatline this concept of pivoting and coming back down. Don't hold your breath on it. It's going to be many, many months before that happens. The reason I know that is because that's exactly what the FED has been telling us. and this is now the umpteenth time that the market has thought oh wow, yeah, like we're gonna pivot And then we get a stark reminder that we're not going to. Uh, so whenever you see this concept of pivot I don't think that's going to happen I think what's going to happen is rate hike probably two more and then we're gonna pause for many cycles and then we're gonna come down. Uh, so don't buy this headline BS Click bait stuff of the pivots coming, the pivot's coming. I think Adam right now. if I had to throw it, Just my guess and I'm not a fortune teller I'm not a financial advisor I'm not Clairvoyant I Don't think we're gonna see a pivot for like at least half a year I think it's actually that far out. Stag inflation is now the consensus view on Wall Street for 2023, as investors sentiment remains historically bearish. So stagflation, it's like inflation, but on steroids and not in a good way. Stagflation is when you have inflation and also basically your GDP is going the wrong way. So uh, inflation in a recessionary environment? Not good. It's a double whammo. Um, so apparently that's currently the consensus View and we are seeing, um, individual business signs that that really might come true. Amazon CEO Andy Jassy says layoffs will continue into next year. That's after they just announced yesterday that they're laying off 10 000 people just before that. M Or excuse me, Meta Facebook was laying off 11 000 people. Various things going on that are obviously concerning and those are just the most recent two in a slew of Big Tech players laying off employees. It's actually getting really bad. Wall Street Ignored Big Tech's bloat during boom times. Now it's ready to slice and dice. The tech sector has laid off 120 000 workers in 2022, including huge layoffs at Meta Amazon Google and Apple are both slowing down their hiring I think even just this morning I was reading that morning brew a financial newsletter. They were just cutting some other people so various things are going on that. Yeah, in terms of the economy, especially certain sectors such as like high growth Tech Right now, they're preparing for tough times coming up in 2023 am. I Saying that's a scary one? Absolutely not. I Think as long as you know the current trend of the economy in the market, you can make butt loads of money. So right now I just want everyone to know that I'm not all of a sudden going full-fledged bullish on the situation. I think there's still many be some serious trying times in 2023 by the time we get to 2024. I Do believe we're going to be back to Rip City, but I'm just saying. maybe that that bottoming out in the economy and the market which are two distinct things. Just so you know, the stock market usually bottoms out before the economy does just historically. I Just don't think we're quite there yet, so everyone knows what I was talking about just a bit before rent growth slows to the lowest level in 18 months mortgages. even those rates are still Sky High But yes, they're taking a little bit of a breather right now. We're just finally seeing a little bit of a calming down in the world of Real Estate Elon Musk says Twitter Employees must commit to hardcore Culture by 5 PM eastern time which was at this point an hour and a half ago. So if they didn't commit, he basically was saying I accept your resignation Uh, he's been very, very serious about changing the entire culture of Twitter and people were wondering hey, is the Old Guard gonna come back in Jack Dorsey Once again, denied that there's any chance he could return as Twitter CEO under Elon Musk hey Jack would you accept a position as CEO at Twitter this was asked on the 16th. Nope. So it even though I I wanted to share this with you just because recently Elon was saying hey I don't even plan on being the long-term CEO So it is a fair question is Jack going to come back but it sounds like he's a little bit too busy with block. Speaking of individual companies, just so you know tomorrow morning, Jd.com especially if you want to pay attention to what else is going on in the world of China Uh, but we're pretty much now at the end of earnings season. There are some more next week, but we're at the end of earnings I Wouldn't say this is any major stuff, but taking a little bit of a rear view look at everything that's played out here I Want to dive a little bit more into this debacle between Walmart and Target because it's something that legitimately bother me. Usually Walmart and Target go together and the fact that Walmart did well and Target did very very poorly I thought it was something that maybe. it's a good case study for all of us of why there was such a distinct deviation in the two. Walmart and Target's quarterly results lay bare the retailers Stark differences. At first, you might just think, well, there's not really that many, but there are some, and it's those key differences that show why one crushed it recently and the other took a massive hit. So it all comes down to groceries. The key here is groceries. Apparently, groceries account for 56 of Walmart's annual revenue compared with just 20 from Target. And with the current inflationary situation we're in, food's up. But yet, people are still buying a lot of food. Well, if it's just like a thing, a knick-knack a widget people might be saying, well hang on our grocery bill. The thing we need is high, so we're going to cut back on other things. So yes, we know retail is still spending a lot of money. It just seems like as if they're spending it in different areas, and obviously groceries are going to be one that you don't really see people cutting. So once again, Walmart Groceries crush it 56. That's 20 of their revenue over at Target. Um, and right here. same store sales in third quarter Walmart 8.2 versus Target 2.7 And then obviously Walmart has many more locations compared to Target. Plan purchases versus impulse buys. That's what Target's known for. Target is known for the latter. where people show up they're like I'm supposed to buy whatever paper towels and I ended up with 200 worth of random things. That's what Target like. literally, the culture. the jokes around Target are impulse buys, and right now, just the environment we're in people are clearly showing that they don't want those right now. they're more so going for their plan purchases, which is apparently a little bit more of the culture of Walmart. With all that being said, though, the overall performance of the stock I mean since 2014, Target's actually doing better right now. Um, and it's just because it completely ripped in 2021 to 2022. and it's more so of this recent drawdown that they've kind of come back into the same uh, fighting class if you will. shopping spending power, this is coming back to retail. Uh, Target annual total revenue. So things are still growing. it's just we're seeing not really a softening of retail. it's just the money is going into different sectors and the sectors are particularly benefiting Walmart and are particularly hurting Target Anywho, that's what I have for you on today's episode of the Matt core show. Obviously, I'm going to stick around and I would love to answer some of your questions, whatever's on your mind, happy to talk about whatever. But as I'm waiting for the questions to come in because remember, there is quite a little bit of a delay. uh, quite a small one. and I think it's a couple seconds, five, ten, fifteen seconds. something like that. But anywho, type your questions away. And in the meantime, if you quick reminder, don't forget to help me out if you would just so like destroy that like button like on YouTube like on Rumble and don't forget to subscribe on both as well. Liking on YouTube helps with the algorithm, liking on Rumble helps with the battle leaderboard and obviously subscribing on both. Lets me know that you're a goonie, that you enjoy this type of content and also you theoretically should get notifications when I push stuff out. It just depends on what the big Tech overlords decide of me on that day. So with all that out of the way, let's do some of these questions: What do you guys have cooking for me? What do you have cooking? I See Hedgehog Canter Just subscribe I Appreciate that Hedgehog Shout out to all the new Subs in here. Shout out. Uh hey! Matt The lighting looks good today I Appreciate that we changed it up a little bit, trying to get where a little bit away from that jaundice vibe that you guys accuse me of. Thank you for your hard work Matt Sean that's so nice. Uh Biden says no more drilling thoughts on energy I am still bullish on energy. Owned quite a bit of oxy and I think I'm going to be holding it for the middle term probably decently into 2023. Uh, do you think we will see 5 through 23 on the Fed rate? What do you mean? five through 23. like do I think five through sorry I don't quite know what you mean with 23 there. New York City Diaries The Diaries are more of going to be like a Sunday Monday thing I have to go out and have New York experiences this weekend which I'm fully planning on doing. Uh, how was your leg day? Oh, crushed it. That quad extension machine has never seen just such a such a ox of a human being crushing it. They almost had to order a whole new Quad extension just for me. I appreciate you asking still holding AMC Yep AMC ape gme rum oxy Tesla all that stuff. you can view it on public. My positions are publicly available and if you ask me, anyone in this Finance space I Think they should all make their positions publicly available. Is it legally required? No. But I think it just helps with transparency. When are we stealing the Statue of Liberty Uh, what's today's date the 17th that will be in three weekends that we're planning on stealing the Statue of Liberty How did I start training? Oh I've been trading for a while now I Found out about it like my grandparents and my parents talked about stocks, they had stocks. So I think I made my first trade sophomore year of high school and I bought some like crazy Penny Stock and uh, even though my parents warned me about it though, you're gonna lose all your money I was like no way this is going to reinvent the internet in Pakistan that was my thesis on it and uh, yes, they were right I lost all my money and then obviously I was in high school and then in college and I was a classic broke high schooler in college. so I didn't have much money but then I had some internships and in college my final year of college I paid for the bill by trading binary options which is more to generate than normal options but that's how I paid for my last semester and I studied computer science. So my whole idea was to create algorithms that trade for me and uh, I was working on that post College especially as I had a job, I worked in a bank and I was just kind of stacking my paychecks trying to trade and one thing led to another and I just started training more and more and more and then because of the pandemic I was stuck in my apartment in Brooklyn and that's when I started YouTube and I was like, well, hey, I always wanted to teach the things I know about trading and more so than just teach because that's not just me like I do enjoy teaching but I think what's way cooler is the community where you can learn off of me. I can learn off of you Uh, this whole concept of trading together I really like it because so much of trading is like secretive and people don't want to talk and that type of thing and I'm the exact opposite. I mean the more I can learn I think the better it is. Let's arm wrestle. Let's do it. I'm ready right now. I'll come to your place, just send me your address and I'll be there tonight. Uh, does DRS still make sense with all the BS tokens? Well, 100 Dr stop BS In your opinion, 100 DRS just means that no one will like there's no shorts if everyone. Theoretically DRS that means that your shares aren't being loaned out so there wouldn't be shorts. but would drsing stop 100 of the BS No because some of the BS doesn't relate to that. It relates to other things in our Market structure morning from South Africa hey I appreciate that. That's very kind of you. Uh I never plan on returning to New York City Lived there three times. That was enough. How low will AMC ape have to go before you unload your bags? Um, just because of my position in this community and what's going on? how low would I have to go for me to unload my bags? zero I I'm not getting out the shares I have right now on AMC Uh, on ape on Gme in that I'm I'm just in the cause now it's beyond a trade that's not appropriate for everyone if you think the time for you to sell it was last month. cool if it's next month. cool if it's today. cool I'm We're all in charge of our own money. so I'm being transparent about what I'm doing. but that doesn't necessarily mean it's the right move for you. Everyone's in charge of their own money. You gotta do what's right for you. You're putting food on your table I'm putting food on my table. That's how I view it. The fact that people think they have the ability to tell other people that they should be buying. They shouldn't be buying selling, not selling that type of stuff. That's crazy to me. um, anyone telling you what you should be doing with your position? uh, can honestly go kick rocks because they're not the ones paying your bills. What else do we have? Uh, most snow you've ever had to shovel? Uh, so I grew up in Northeast PA We got some crazy squalls here and there. so I mean not that consistent. but I I mean there were times that my parents like back porch was like three feet of snow. Something like just wild things I mean Northeast PA It's kind of just like New York Really? I mean you can get some wild wild weather Matt is The Joe Rogan of the stock market I mean I wouldn't I don't think that's true I I One Day wish I was at that level. you know, hone in on my speaking ability, make better connections here and there. Uh, it's something I'm certainly would love to strive to I Don't think I'm at that level, but hey, it's definitely a goal in mind. Why not? Damn Matt I'm like the wife that's heard the same story 100 times. that's how long I've been with you. Uh, feel very close to you right now I Always feel very close to you I appreciate that. Uh, how many shares of ape AMC and Jamie do you have? uh I of AMC and ape in the in the thousands for sure? I don't think over ten thousand I'd Honestly have to check I haven't looked in a while just because. like when Abe split off and then Gme had their stock split. Um I was in the hundreds with Gme before the stock split, but maybe I'm just over a thousand now. Maybe maybe just under something like that. I Honestly have to check. Um, but I have a 4X share amount of AMC and ape and uh, it was a 3X amount of Gme. but maybe now it's Forex I I Truly don't know somewhere in that region could 100 DRS allow share recall though? No. Shares are recalled when basically a short is short. but then the person who is long sells and The Brokerage doesn't have the shares. So then they go to the shore and they're like hey, you have to like recall your position drsing in my opinion wooden um like force a share recall All right. Looks like things are slowing down a little bit. That's what I have for you. Thank you so much for hanging out I Truly appreciate it. Don't forget if you enjoyed this type of content, hit that like button and don't forget to subscribe on both Rumble and YouTube And also a special shout out to Enviro cleanse the stream of today's sponsor pin to the top of chat in the description of the video. Make sure you check it out! I Hope I Catch you tomorrow morning 9 A.M Bright and early for payday Friday where we will be giving away a thousand dollars I hope to get you there and beyond that I Hope you have a Bea beautiful evening. Shout out.

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