Would be a market improvement from these wounds that we experience, there is so much tension in the air, im going to try to cut through it, the good thing i have some of the best to help me, President Biden meeting with the japanese and korean counterparts, how much will they callout china if at all, the counteroffensive is failed, what is next for ukraine, did elon musk kick bitcoin to the curb, Natalie Burnell joined me in studio, really beating the peak time of consumerism, see the latest example of the nation addictive to spending way more than they have, that is my take, all that and so much more on making money. Charles i decided to dedicate today show to petra belgium draft horse considered to be the Strongest Force in the world because 2023 has been all about the rare breeds that have carried the stock market and now of course they look vulnerable, i want to get overseas were the biggest stocks in europe is be dismantled, this headline youre looking at is a reaction to this companys Financial Report calling apocalypse selling, youre looking there, the shares down 40 , they missed earnings, heres the thing a major Ripple Effect through the private markets and throughout the european markets, a lot of payment companies, unicorns for ipos, here in america u. S. Investors are going to be focused on Something Else the high evaluation metrics that this cavity once enjoyed, enterprise value 43, p ratio of 90, price of sales over 19. These are the kinds of high evaluation, maybe a little bit more but the high evaluation that many aborting the mega cap leaders in the market which have recently been under significant pressure, shares of apple, look at this hammer and now closing on a critical support point shares of tesla getting smashed. If it gets down to the doing today moving average on your screen that is a lot of room to the downside. Right now an eerie comment on todays session but you can cut the tension with a knife and overnight in china issues property of a grand filing for banker preproduction in america, the bigger issue for american investors mightve come out of the netherlands which is the company that was annihilated. A bullish sentiment, that is meeting a hasty retreat as well the fear and green index on the cusp of entering fear, less than a month ago it was nestled into extreme greed, the Retail Investor bullishness is making a big retreat down to 35 from 50 a couple of weeks ago, the dog days of summer have finally arrived and slow down the stock market. Listen people calling the hills either going to get in on this thing or a lot of people are going to want to hop up a list were at a moment of truth and that is it for the next week. Im going to bring in cio Founding Partner jack evelyn. Last time had you on the show, you talked about a different research, a lot of research, more or less adjusting evaluation for stretch the s p was overvalued by 11 have we come in and off since then . The average stock has come i would say the average stock now is affording a pe of 17 times, that is pretty much what the trip will be if you take the yield of the ten year info but upside down it comes up with the 17 times pe the s p is trading around 21 times and that is owing to the largest names in the index. Charles your thoughts on the mega cap the pullbacks that were seen so far, i think apple seen that a lot, tesla stands out a lot and nvidia on deck to report next week. You really touched on it with Investor Sentiment. If you really track Investor Sentiment go the opposite way it would be a great way to treat this market, we started the year down in the doldrums. I think the bear bullishness was in the bottom decile of historical range and of course pessimistic investors have low expectation, the opportunity for a positive surprise was very high and january. About a month ago we got to the top decile and bullishness with high expectation, now were seeing that pullback. We are now in the middle of the rage and you show that, my calculation isnt quite as close to fear as yours but it is getting there. Charles that is the fear and greed index, im not necessarily a fan but the pace that it came down i thought it was worth noting. By the way i read your piece on the power strip in the energy sector, this is one thing that i grapple with, despite the high all the money thrown at the clean energy ive lost money and everything i tried to buy i have been smoked, how do you play this and position yourself on the monumental shift. It is a great callout in really what you have to do is position it accordingly according to timeframe, it is very similar in many respects to a. I. It is thematic, that means it will move the needle on productivity and the problem is those types of strategies require 15 years to play out, not 15 months. I think what happened is investors get a little bit ahead of themselves and they tend to get overly enthusiastic and the results arent quite as quick as they would liken there is disappointment. I think these are the names have to put away and let it sit, these are investments that need to percolate for more than a decade unfortunately. Nearterm, we still like chevron, we still like Quality Companies with solid evidence. Charles i was going to ask you about that last time you were on i. 9 yield i kind of recall, do you still like those, you say with the dividend players right now. It was mccormicks, we like high Quality Companies with decent dividends and strong Dividend Growth, if you look over time Dividend Growth has far outpaced inflation even if you go back to the 70s, Dividend Growth has outpaced inflation it is a great way to capture yield. You gave us a nice roadmap, thanks so much, have a great weekend. Coming up later, my take away on the latest example of consumer run amuck, meanwhile stocks are struggling, the economy is looking much better this according to a lot of sources, the atlanta fed says of thirdquarter 5. 8 this out today as survey of an economist by bloomberg say no recession, you can see back in july there was questions i would bring in the Conference Board chief economist dana peterson. A few months ago i would say 95 of wall street was under a recession bandwagon and olmos to a person they always cited your work leading Economic Indicators and other things, the Consumer Confidence. Now almost every day somebody jumped off the bandwagon, is this premature . I think it is right now the news is really great, labor markets are doing well, consumers are starting to buy new homes and also when we look at Consumer Confidence is popped up, there are a lot of headwinds that were to be seen later on this y you have to tell us what they are, specifically where people getting the confidence of the money from thats where im confused, thereby new homes, all of a sudden the confident again, i dont understand it. By our own estimate in the San Francisco fed, a lot of the excess savings that was out there is going to be depleted this quarter, lets not forget anyone with a student loan is going to have to start paying back. You are going to run out of savings, youre going to have to pay Student Loans and many people who dont have Student Loans are ratcheting up the card use, that is at a much higher Interest Rate and theyre going to have to pay that back as well. Charles it is amazing, the last fed report on credit, credit cards got all the headlines over 1 trillion but autozone 1. 8 trillion auto loans passed Student Loans 1. 8, you have three tranches of consumer tried it over a trillion dollars in delinquencies or go without, beeping upper mortgages but those loans, Student Loans we know will skyrocket and yet the street has gotten so positive. I think what they are missing and it feels to me maybe jay powell, the lag affect has it been delayed because of all the extra cash that wasnt it. I feel like everyones models are broken, you cannot adjust for trillions of dollars in free money. But now its starting to normalize, are they overlooking the lag affect as well. I think markets are meeting some other economist may also. We already seen the effects on the housing market. Overall existing home sales are down in home prices are falling year on year and even with start in new home sales it signs of a little bit of a pickup. Mortgage rates above 7 does not suggest we will see strengthening and housing so we have to see the lag affect show up in Business Investment and also with consumers. Our own Consumer Sentiment survey says confidence that consumers are actually shifting their Services Spending from things that they want to think that they absolutely need. Charles we will see when we stop going to restaurants and take flight over the weekend in cancun when they told her boss they were working. Were talking about the lag affect, lets talk about the jackson hole summit. The last time he used the word twice, the market reacted, all markets reacted they did what they were supposed to do he was able to jawbone every action, what do you expect this time. I think the fed has a tough job right now, theyre still trying to cool inflation core inflation is to elevated and certainly when you think about labor markets, meanwhile the labor market is pretty healthy, what does the fed do, elevated inflation strong labor market, sounds like the fed is going to continue to suggest that more Interest Rate hikes are on the way maybe its one, maybe its too and that will be an extended pause. Charles this recession, the last time that we spoke you said it would be shallow but how much can a royal market if everyone is caught flatfooted. I think it could be a huge shock certainly if we get into the Fourth Quarter and we start see the negative numbers, lets not forget the debt ceiling which means spending cuts potentially starting in the Fourth Quarter. We will see if they get legislated. Charles you dont think so go to the lastminute rubberstamp and spend a trillion each. That topic a lot of times. That the base case and certainly we will see the weakness. I think if the markets dont look for a certain risk and the commercial real estate market, there is still shoes that can fall and disrupt Financial Markets and negatively impact the economy, we cannot ignore those. Charles less than a minute ago, 30 seconds, fitchs only one sounding the alarm, are they on point . I think they absolutely are. When anything about small and mediumsized banks overexposed to commercial real estate and a particular office space, who is going to come in and buy all of them and rescue all of them. You can definitely see a crunch there that could spill out into the broader economy. Charles great stuff, always appreciate talking to you. Coming up, the stampede toward the exit is getting louder as investors are getting a little bit more bearish, two guys youve never seen sweat before, david nelson, ryan payne will join me in studio and will talk about what happens all the time, dont freak out, speaking of freaking out, bitcoin got hammered overnight, the word is elon musk kicked it to the curb, dont say say it aint so, Natalie Burnell is next. This isnt just freight. These arent just shipments. Theyre promises. Big promises. Small promises. Cuddly shaped promises. Each with a time and a place theyve been promised to be. And the people of old dominion never turn away a promise. Or over promise. Or make an empty promise. We keep them. A promise is everything to old dominion, because it means everything to you. Im saving with liberty mutual, mom. They customize your Car Insurance so you only pay for what you need. You could save 700 dollars just by switching. Ooooh, let me put a reminder on my phone. On the top of the pile oh. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Wow, you get to watch all your favorite stuff. Its to die for. And its all right here. Streaming was never this easy, you know. This is the way. You really went all out didnt you . Um, its called commitment. Could you turn down the volume . Here, you can try. Get way more into what your into when you stream on the xfinity 10g network. Goli, taste your goals. Charles bitcoin hammered overnight the crypto world was smashed the particularly bitcoin there was a report elon musk has been a big seller, twitter for x own by elon musk flag the story with the caption, there is no evidence to support the claim that spacex sold 373 million bitcoin, was a journal right i want to bring in coin story podcast natalie brunell, what the heck is going on. I thought elon musk was the poster boy for crypto, particularly bitcoin. I would not be thinking about thinking about thinking about selling my bitcoin on this rumor, obviously elon musk owns x and use all the context theres no evidence suggesting the company sold so we dont know. If they did it mightve been an accounting maneuver because the role hasnt changes still prohibitive to put bitcoin on the Balance Sheet because after report only the losses, maybe they did not sell, bitcoin moves into stronger hands. If our hands are stronger than elon musks, that is okay. Charles i thought he was diamond hands all the way. It is interesting about that, bitcoin is having a pretty good year it is a stealth rally but the bestperforming asset after. That is right over 100 of this year it was outperforming equity, gold bonds, youll see millennials bragging on tiktok that they bought bonds, they bought bitcoin. Charles that was last night, yesterday heres the headline bitcoin surges argentina hobby year malay wins the president ial primary, this is a bitcoin candidate. Imagine if you are a parent and argentina and you go to sleep and wake up in your currency is devalued by almost 20 which is the reality, inflation is over wanted 2 yearoveryear, the peso to the dollar has gone 92 , people are struggling and i think they resonate with the message that hobby year malay assaying inflation is theft, he said the quiet part out loud and is advocating for the working class to take back the economic power because they are losing it. Charles is like el salvador, theyre saying to the imf and the world bank, you got us in a twist were in a knot and we take the loans that are prohibitively expensive and you tell the rest to the currencies and you control them from afar and we never have control of our faith, thats why argentina has a currency crisis every year i see an alternative, they wake up any given day you can be down 20 of the peso. Bitcoin is a risk off asset, like argentina and lebanon the currency is failing in real time and bitcoin has been a life r raft. Charles speaking of politics, as their president ial candidate to stand out with respect to bitcoin. I think its worth pausing and noting the fact for the first time in history there are four president ial candidate that have named a digital asset, bitcoin and advocating for peoples freedom to hold it and transact, this is never happened before, i dont like to put politicians on the pedestal but thats never happened before in history. Do not to tell us who they are. Vivek ramaswamy, suarez, and rfk junior into santas all. Charles i won a see what americans view as the best longterm investment, traditionally housing bill is that you can see is up there, it is coming down strong, huge, there is an alternative that they finally add crypto, 4 which is near bonds, what you make of that, has a pr element to the stated, before everyone was talking about bitcoin you dont necessarily hear as much on the street. First of all something that we talk about in the space a lot is largely homes have become People Savings accounts but for young people is nearly impossible to get a home people are being priced out of the market more and more people of all ages with Mortgage Rates at sky high rates and a Home Affordability at four decade lows people are looking for an alternative but i think those reflect the fact that not a lot of people understand bitcoin but people understand something is wrong something is fundamentally broken and what that is is the money the fix is bitcoin and as they start to learn about at the ghetto slowly start to accumulate more and more bitcoin instead of venting all of the frustration of the cost of living on social media plat platforms. Charles they have to do something about it, to your point the way its dropping real estate stocks and mutual funds really underscores and bonds underscores the fact that the looking for something if they know a little bit more, that is what youre here for, you are the ambassador. Your show is making money, bitcoin is making money better for everybody. Charles it is so funny. The last ten years bitcoin is been number 17 times in the number one asset, seven out of the last ten years. The performance piece for itself, volatile and the shortterm but is about Economic Freedom and dignity because your dignity is tied to yourself forced and everyone deserves a chance to have Financial Freedom and be able to plan for the future and take care of their families. Charles great stuff, great seeing you. I want to get to angela tweed about the homeless crisis to food banks struggling to get in stock supplies due to Price Inflation and groceries. That combined with the increase in people in need as a sign of how things are going. Natalie referred to that in these tweets. Hunter biden pushing to wipe out college debt. And pay my sons tuition my older son is getting paid to get his phd but were supposed to pay other peoples debt, so unfair. Marks people get things free they dont value it free has no value and pride folks love hearing from you, keep the comments coming about the show. Anything that you want to talk about tweet me at cvpayne. China is looking more vulnerable than ever some are saying they may have a lehman moment, Rebecca Graham on what that means for safety, will they panic, when will the push down pull back in. It just began but some people are freaking out, two guys will get you call and give you a couple ideas. David and ryan pain next. west rose next big thing ready . Go im coming out with a bang blowin up im the next big thing everybody want my shine if you want a piece better get in line aint nobody do it like this go so hard no i just dont quit dont quit im coming out with a bang bang blowin up im the next big thing big thing dodo you like me now . Dodo you like . We dont just have everything. We have your thing. Blowin up im the next big thing ready . Go ah, these bills are crazy. She has no idea shes sitting on a goldmine. Well she doesnt know that if she owns a Life Insurance policy of 100,000 or more she can sell all or part of it to coventry for cash. Even a term policy. Even a term policy . Even a term policy find out if youre sitting on a goldmine. Call Coventry Direct today at the number on your screen, or visit coventrydirect. Com. Somebody would ask her something and she would just walk right past them. She didnt know they were talking to her. I just could not hear. I was hesitant to get the hearing aids because of my short hair. But nobody even sees them. Our nearly invisible hearing aids are just one reason weve been the brand leader for over 75 years. When i finally could hear for the first time, i started crying. I could hear everything. Call 1800miracle and schedule your free hearing evaluation today. Your record label is taking off. But so is your sound engineer. You need to hire. I need indeed. Indeed you do. Indeed instant match instantly delivers quality candidates matching your job description. Visit indeed. Com hire there are some things that go better. Together. Burger and fries. Soup and salad. Thank you like your Workplace Benefits and retirement savings. With voya, considering all your financial choices together. Can help you make smarter decisions. For a more confident financial future. Hey, a tandem bicycle. You cant do that by yourself. Voya. Well planned. Well invested. Well protected. Charles the market, investors are screaming like maybe it broke its arm or something, take a look at this the fear index, i brought it up earlier, it is in freefall from extreme breed to fair im not a big fan but would move that quick you gotta bring it up i talked about Retail Investors bullishness, about 35 from 50 in two weeks. It is the professionals who are a lot more fickle and when they stampede for the exit against really loud, the question do you join them or get ready to buy the dip, david nelson, Capital Management llc president ryan payne, we had to tell people that we werent related. Lets. Its hard to believe. Charles lets talk about the recent volatility. Is there anything unusual about the way that the market is acting right now . This is a classic bull market doesnt let you in all of a sudden come july Hedge Fund Managers say we need to get into this market near the top and you had everyone change their tune near the top in the market sells off and thats why markets are cruel because they dont let you in and thats when everybody made the decision at the wrong time that is the way i always see this, when someone gets too optimistic and everyone gets bullish in time to run for the hills but on the flipside when things get more pessimistic thats when its time to buy. Charles brian Paul Dietrich put up a good table and i think we have two share with the audience, its your typical year in the market. 3 dips on average are 3 7 dips on average five, on average one correction a 10 correction. On average every year end a half you get a severe correction, 15 and on average a most every three years you get a bear market, the bottom line as an investor there will be certain bumps in the road to matter what. You have to lose money to make money. Charles do you have to lose money or you sometimes ride it out. If you can get through this without going there. Of losing money i give you my word, its impossible. Theres always a catalyst for these kinds of things and very often the catalyst comes from the bond market not the stock market. We have been focused on the wrong side, when you looking at the short end of the curve and are they going to hike and cut. The problems all the way on the other side. Charles how do you interpret that problem, theres a million different rationales, reasons why this is happening. In the meantime wall street is betting a lot of money that the yields are going to come down quickly. Were split right down the middle, what are the great secular growths in my career right now and that is a. I. But the other side of that we are getting a very clear message from fixed income investors around the world that are telling governments, if you want us to extend duration we want food on her plate and that means higher yields and that makes it kind of tough and we get corrections like we have right now. I think is also Economic Growth that the tenure is going up, if you look at the data, will retail sales, housing starts, betterthanexpected global goods betterthanexpected, you dont need weatherman to know which way the wind blows. A minute take the other side, the bigger problem with looking at the fact that we have right now on a path to 1 trillion service to debt in the first ten months of this year we are ready to deficit of 1. 6 trillion, that number keeps going up. I think this is sending a message. I couldnt agree with looking at the last tenure options, the tenure is 55 and got 23, china is not buying, the Federal Reserve is not buying, saudi arabia at a sevenyear low, they have to hike rates but if that is the case do we interpret it the same way because a lot of people say the higher yield the more stock market particularly the tech stocks. Tech stocks are overvalued when you have nvidia trading at an astronomical it remind me of the late 90s for sure but overall they take the magnificent seven out of the s p 500 give a multiple of 16 times forward earnings, meanwhile huge spending on infrastructure and huge spending on manufacturing in the u. S. Like industrials and material stocks are all cheap, broad not your exposure dont predicate on tech because thats interestrate sensitive. Charles sometimes i get worried when its so obvious, how come theyre still cheap, when the hell did they move. It is so obvious and so cheap. What are you buying right now. And split down the middle, to ryans point, what im doing on one side of the ledger i have high Free Cash Flow like merck and you look at 18 billion in Free Cash Flow and net to that the 6 on the yield, on the other side and buying somebodys cratered technology stocks, company like dated dog that got absolutely whacked. Charles full disclosure i give that to my traders today for a trade im not looking to stay in a longterm i dont like waking up is down 40 . Before i go any surprise since from jackson hole next week. I think there will be good surprises, the fed will calm the market saying inflation. We dont have a recession. Do you take a victory lap on this. Everyone called her last y year, not me were to go into recession, has not happened you can go to my instagram pole if you think the market is going down or up but its goldilocks right now. When the guy sets the fire and puts it out. Charles itll still be smoldering. A victory lap, we will cmi be a little bit premature but i know hes eager i was telling people a couple of meetings ago, powell showing signs he believed in the soft landing now other fed officials saying it might be a little early to take the victory lap may be put on the sneakers and wait one more go around. Things a lot. Call it a true American Dream come true. Americans selfmade entrepreneur behind the story and his magnificent amazing story of overcoming somebody odds, i cannot wait to share that with you and him, before that we had to talk about something more serious, intelligent say the ukraine counteroffensive did not work. What happens next, i will ask rebecca grant. [ applause ] the day you get your clearchoice dental implants makes every day a confident day. A neverhidemysmile day. A lifeoftheparty day. A takeontheworld day. A believeinmyself day. A flashmynewteeth day. Because your clearchoice day is the day you get your confidence back for good. A clearchoice day changes every day. Schedule a free consultation. The biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. It still does. What can you do with spy . Im so glad we did this. Im so glad we did this. Im so glad we did this. Im so glad we did this. Im so. Glad we did this. [kid plays drums] life is for living. Lets partner for all of it. Im so glad we did this. Edward Jones Charles and thence on a global stage are intensifying in a dangerous way. President biden is meeting with the south korean Prime Minister of japan. What many are hoping will be a defining trilateral relationship with the 21st century, big question how much will they push china, i would bring in Fox News Contributor rebecca grant. What do you want to see come out of the trilateral summit and what you expect to see come out of it. I am glad they are holding the summit. What i want to see is a pledge about tighter military cooperation on Ballistic Missile threat warning and i would like to see this all backed up with new u. S. Trade deals. I was glad to see Gina Raimondo from congress there today. But this is a good push back against china. They are not happy in beijing to see eun and cut sheet of japan this is a good step in the china pacific. Charles is there any shot, i thought there would be a shot a few years ago of japan altering or doing something with the constitution that is more passive constitution, i feel like they going to have to build a modern military with the china threat and other threats there. They still have a pacifist constitution make no mistake, their military is first rate, they have a great air force and japans navy is right up there every day doing Ballistic Missile watch and warning in the pacific, china knows that to. Charles lets switch to this, according to various reports the u. S. Intelligence is now saying that ukraine will fail to meet the counteroffensive key goals, the question now, what happens next. Here we are all of this went into the counteroffensive but the problem is russia has mined the Southern Area but dont give up russia does not have a lot of Operational Reserve that means the goal is still for ukraines forces to get far enough to the first set of minefields that they can break through at one point whether thats near melita pole or somewhere else, they can push a break there sometime this fall, then they can really scoop up and catch a lot of Russian Forces that they cannot maneuver. But we are making them do this without airpower and it makes it ten times harder. The u. S. Quietly approving ukraine received the u. S. 16, now the pilots have to be trained, how long does that t take. Ukraine has great pilots they can become an effective in 30, 60 days if they do the right thing. If you put f16s with the right munitions and there go the minefields, they can really make a huge difference even in the ground attack role, they shouldve had them a year ago but lets get the ukraine pilots trained and get them out there. Charles i read an intriguing story ukraine is rushing down russias helicopters, the ak 52 and the alligators, this is the first time they have been able to do it they knocked down two of them. Ukrainian officials are saying when you look at the helicopters they have the stabilizers, processors, computer chips, they have telcom transformers. All the things that are supposed to be under sanctions how is russia getting the sophisticated quitman . They are, you know what is worse, russia is able to do reverse engineer and make their own versions of iranian drones, russias defense minister was in north korea a couple of months ago in china is still helping them. The sanctions are never going to completely stop russias military capability. Its very frustrating and all the more reason why we need airpower to continue with air defense to try to make the successful flight for ukraine. Charles you sound like you copied it even though there have been setbacks, youre so confident ukraine will come out victorious. Yes i am i think they can accomplish a lot this fall. I would like to see happen faster, we made them do it the hard way but with the Russian Forces weakening there is every chance for ukraine to punch through and rollup and make a much better situation they are on the ground leading to negotiations or an outright victory. I do not roll them out i still think they could get back the Southern Coast that they need to be viable economic state. Thank you very much. Charles coming up my take away about the yellow culture thats gone so far wait until you see the money the kids are spending before they even go to college and meanwhile i want you to look at the group of gen z and Beverly Hills answering how much they think the average citizen earns. How do you think the average american makes. 400k. , do you think the average american makes. Half a million. How much do you think the average american makes. 100k. How much do you think the average american makes a year. 200, to enter 50000. My next guest he fled the civil war as a child, now are mere harris is behind the wheels of the Fastest Growing companies in america and he will share a story with us next. You cant buy great conversations or moments that matter, but you can invest in them. At t. Rowe price our strategic investing approach can help you build the future you imagine. T. Rowe price, invest with confidence. Charles throughout the pandemic and sense even though the economy has been challenged one thing that we see the entrepreneurials writ has remained strong its like armir harris who set the example he came to america as a political refugee from albania and started working in his familys limo company and that led him to charterup the first charter bus booking platform offering realtime Pricing Availability and armir harris joined me now. Im going to the numbers i am a numbers guy, im going to share the numbers, i hope the irs is not listening. 111000 growth in three years. The number one Fastest Growing private company in america number one category according to fortune, tell us the story. If you get to america and you go from there and now you are here. Thank you for having me on, let me tell you a little bit about what charter does, charterup his only Tech Solution allowing customers to charter a bus realtime within 60 seconds. Theres a very good chance you favorite professional sports team are chartering all of their buses to her platform the buses are all over the United States on dod army bases. It is a crazy story i came to the u. S. With my mother and sister, single mother we can with 3000 in her pocket, i started cleaning cabs and vans at the age of 15 before i would go to school, fastforward, went to college. I realized there was a big gap in the market. There is about 3000 motorcoach cavities into companies, 7000 van and Minibus Operators as well, about 10000 Small Businesses across america and theres been no Tech Innovation for whatever reason no one realized how valuable this businesses and this is the backbone of the u. S. Economy. Charles how did you figure it out. I always wanted to put the Customer First as a 15yearold i did not necessarily have the business acumen but had the tech acumen and a very young age i realize customers wanted ondemand especially these days customers want right here right now and there is no Tech Solution out there. So i went to the Bus Companies and we built custom a solution and now we give them the solution to plugandplay on a platform and over 4000 buses making us a larger solution nationwide. Charles its amazing how fragmented the industry is, wayne did the same thing with Waste Management he inherited one pickup truck and he made it Waste Management because it was a fragmented industry. The idea that you have have already wanted taken how far do you think you can take it. I think we can to get very far, there is 10000 companies, we have 600 on a platform were very selective on who we ludden but theres much more penetration left in the United States and guess what a whole Global Economy out there. Charles youre doing a lot with state governments, k12 schools and things like that. Im thinking of the public side, i read an article how people are gravitating back to buses because folks my age have a negative connotation, the old greyhound, trailways but now the buses are so beautiful, they are so nice and plush. Its a great way to travel. We are helping Bus Companies modernize not just by modernizing with Great Technology uptodate technology but helping them modernize their fleet its really tougher the bus industry and we really help them get newer buses, upgrade their fleet and our goal is to have a chartered a bus and every major intersection of america. Charles going public little bit too early for that. That is the plan, congratulations is the beatable story. 2018 to where you are now absolutely remarkable. You complete yourself in the movie, youre a goodlooking guy. This time lets read a little bit male, these cavities getting into politics and trying to fight personal cost should be sued for misrepresenting shareholders we invest in the business to make money read that the novel idea. One viewer said disney ruined espn. I love hearing those comments, i love to share them with me at cv pain. My take away on the ultimate combination of materialism, consumerism and i forgot the other but it is crazy as him. Ill be back to explain it. If you wake up thinking about the market and want to make the right moves fast. Get decision tech from fidelity. [ cellphone vibrates ] youll get proactive alerts for market events before they happen. And insights on every buy and sell decision. With zerocommission online u. S. Stock and etf trades. For smarter trading decisions, get decision tech from fidelity. phone typing message sound message sound shut it down blackpink in your area shut it down whatwhatwhatwhat . The first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. We just got an order from dinosaur, colorado. Start an easy to build, powerful website for free with a partner that always puts you first. Start for free at godaddy. Com ah, these bills are crazy. She has no idea shes sitting on a goldmine. Well she doesnt know that if she owns a Life Insurance policy of 100,000 or more she can sell all or part of it to coventry for cash. Even a term policy. Even a term policy . Even a term policy find out if youre sitting on a goldmine. Call Coventry Direct today at the number on your screen, or visit coventrydirect. Com. This thing, its making me get an ice bath again. What do you mean . These straps are mindblowing they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. And you are . Im an investor. In invesco qqq, a fund that gives me access to. Nasdaq 100 innovations like. Wearable training optimization tech. Uh, how long are you. Im done. Im okay. Charles before we get to my take away i want you to take a look at palo alto networks, its been my favorite talk for 15 years at premier name and the cybersecurity, the good report the earnings after the bell, after the bell on the summertime on a friday has a lot of people very, very concerned moreover a week or so ago the key rival reported that it missed so bad the stock went from 5075 to 55. Meantime its been a tough week for the market but it is still summertime, listen we are alive and free too bad we cant say that about seniority recruitment, the university of alabama, 2500 young women dissipated in the sorority recruitment, it is a showcase the ultimate showcase and its been fueling the tiktok videos, students with their fits and card tear bracelets, rolex watches, one kid came up to 20000, some more than that, for me is another example of this you only live once culture that is mindboggling spending by young adults often without a job in this case the havoc on to college. For years i said were at the height of consumerism, materialism and celebrity is him is a hell of accommodation. I have nice stuff but i bought my first watch after i worked on wall street for three years, i worse gifts until i went to the airport, its another reason i cannot wait until we bring back student loan repayments, bring them back give people pain of the Student Loans. Speaking of tiktok culture. Dont be the animals if you went to the animal dont feed the animals, zoo administrators around the country are asking and pleading with visitors, refrain from showing the gorillas videos and photos on your phone. These primates are hooked on this stuff, they love it if you get against the glass, they dont Pay Attention to anything else, apparently they like the pet videos and love being in selfies, man and ape may be related after all. A special thank you for watching the show. I try to say this every single day but there is a report that makes me very humble and wants to say thank you very much. It turns out total Television Viewership is out of the was market share ever. Were just at 20 . The boom tube losing to streaming, cable and other, i dont know what other but theyre all catching up, others catching up. We are in an interesting precarious situation where we must deliver something very, very special and thats what we tried to do on fbn everything will they would put a lot of work into it. Next week will be so critical i want you to have a great week and we have nvidia earning is p so much, there is a part of me that is worried but a part that thinks is a be the number one copy for a long time and you have jackson hole, the last time at jackson hole jay powell deliberately jumped on this market, he crushed it. Ironically his pain speech the stock market is higher than it was then, those are two things that will impact your portfolio. Dont worry i have you covered read in the meantime Ashley Webster has you covered, he is in for liz claman. Spewing great information. Thank you, no guerrilla selfies. Thank you very much. I am Ashley Webster i am in for liz claman. We begin the final hour with the fox market alerts, stocks have been under pressure this week all three major averages are at risk for posting a fourth straight session of decline but right now stocks are flat down