Professional Traders Unlock the Code on Trading with Grant Cardone

If you have a million dollars the fastest way to lose it is invest in Bitcoin today bitcoin's at$ 35,000 that $1 million would be worth $65 million okay okay what do you say to Dave Ramsey today Charlie's still trashing and saying it's garbage it's not are they wrong yeah yeah it's a li I mean say Dave Charlie Warren and Jamie are [Music] idiots Okay guys hey appreciate you guys being here first of all let me just tell you I I put in AI chat I said what do the Nigerian brothers and Grant Cardone have in

common and this is what it said to me John and Pete are known for their expertise and options trading and appearances on financial t television as well as for f f founding the market intelligence company trade monster yeah is this true yes sir true and the Nigerian family office I didn't know you Guys have a family office off okay Grant Cardone on the other hand is a sales trainer motivational speaker real estate investor and author okay here's what John Pete and Grant have in common finance and investment entrepreneurship media presence pretty good Ed education and

mentorship I'm I'm literally just did this authorship public speaking and wealth management sounds like a lot how Accurate in chat GPT oh it's pretty damn ACC I put it at about 100% okay okay I'm glad I didn't ask it a question about Israel or Palestine oraz or Obama democrat hey great to have you guys here for you guys that are watching right now John and Pete um behind the scenes you're going to see us do some other stuff in the future together this is super exciting for the everyday Person uh you you guys know and

Like These Guys these guys grew up very similar to me right you guys didn't grow up rich did you or nope no Wall Street babies no not at all how' you grow up Physicians uh our father is a transplant surgeon probably one of the greatest ever of all time oh wow and uh transplanting what kidneys pancreas liver uh eyelets you name it he did it wow he thought heart was too easy so he just sto doing Hearts because everybody Always thinks that's the biggest of them all and my dad said no no no the liver's

tough Hearts could he could do with his eyes closed so uh very confident guy and that's what you want when you when you have a doctor right when a doctor's working on you trying to get you back into the way the world you want yeah you want confidence and our dad never lacked confence not a nerd is your dad still around no he passed two years ago 93 oh wow but he uh um he was one of those Guys gregarious you know he was a pro football player okay he was 6'4 270 lbs when he

passed he was probably 22 guy a handsome dude man big Armenian guy man what happened to H we didn't get that's unfortunately um he looks just like him I do I I actually look a lot like like our father yeah he he and I were closest because I was born on the same day same Hospital in San Francisco he few years apart yeah but uh I'll tell you the Other thing about our father that I'm so proud of is he was a scientist not just a doctor but a scientist he came up with image supressant

drugs that were used for well the better part of maybe 60 years in medicine because of what he had come up with and he worked with a guy in Berkeley who basically uh was the guy who discovered the last six or eight elements of the periodic table so you know my dad my dad was in the midst of a lot of intelligent people yeah he's a Cal Berkeley guy he he graduated in two and a half years played in a rose bow while he was already in med school I mean the guy uh you want

to be off the charts and smart that that was the guy yeah and then both of you guys ended up playing in the NFL as well right we did yeah I played four games sing more than I play you know you would have been a good defensive back you think that's what I have been I see you As a wide receiver wide receiver like a jacked wide receiver yeah Edelman yeah like Edelman a little short dude Edelman not 6 feet something okay okay yeah but um so I played four games single T held out on

his contract but it got me to Chicago what does that have me do with it what is single holding out having to do with it well because I don't get Mike single didn't count under the uh 50 player limit at that time because he didn't sign his contract so while he was Negotiating with the Bears they extended out the time before he'd have to count under the 50-man roster okay so I got to play four games while he was holding out oh God then once he uh signed his by the time that pen touched the

paper I was gone you were Yeah Bang Yeah Bang Bang bang where did bang come from um just kind of ran across it if you guys don't know he does what's your show three three at three three at three okay we'll be talking about three at three by the Way I'm going to everybody that wants to just uh put a comment below and I'm going to get you signed up for free we didn't talk about this for free uh at three three at three three at three for free fre for fre so bad um so

so any of you that you appreciate kind of some of the con content that we share here and we we hope to give you some great stuff here we'll get you signed up for that so where did bang come from bang came from when you'd make money trading you're in A pit hit it yeah with uh 50 or 70 people who hit your guts because you just came into the pit you're going to take money or food off the table they think they think because you got a deal it took something so you know you

have to fight is that really true though like if me and him do a deal it took a deal from you yeah yeah how's that because the way it why is that well the broker would come into the pit and he or she would say that they wanted to buy I want To buy these in 10x trading and they'd say give me a market and we'd both bark out you know half three quarters and he'd say buy them and you'd say sold whoever says sold first gets the trade uhhuh then there's second third fourth fifth

so and then when you get it you'd be like bang yeah you just bang and that pisses them off and it works on them mentally because the more you tell them you're winning the more they think well I must be losing if he's winning so it's One of those things that perpetuates but it's also because I think trading is a lot like Applause when you're on the football field or basketball court hockey arena whatever when you hit it when you make money on a trade and we're making literally a thousand trades a day back in

those days not now but back in those days could be 150 to a th000 trades a day if I'm making 200 bucks or a th000 bucks a trade you get the idea that yeah I can make six figures in a Day 200 Grand and that's pissing the guy next to me have you guys ever had a $200,000 day oh yeah oh yeah oh yeah what's your biggest day positive and negative right right right what's your biggest Day Ever um biggest single biggest FR day or or wi day winning day let's do the biggest winning day

biggest wi day uh seven figures for sure so how how many seven figures there's a lot some some good numbers not eight but seven you know some some really yeah Stuff like that what's your biggest um it would be less Pete traded bigger than I Trad okay he's got bigger brother this guy when he sack bigger ball sack bigger something big gloves big feet okay okay but Grant when when he was in the AOL pit he would routinely carry a hundred million worth of stock dude every freaking day and so that would be something that

and we tell people this all the time you get blinders on if you get outside of your comfort zone you got To trade within your comfort zone mine was a lot less than that but Pete could have a hundred million dollars worth of AOL but you weren't comfortable with that like he was comfortable for a few minutes yeah I was pretty comfortable with that yeah it was fun you know I came from what does it mean what does it mean to carry a $100 million worth of stock I don't I don't explain that to me

and the audience as though we know nothing sure well there's uh there's a Lot of reasons for that a lot of it has to do with the hedging and things that are going on as we're TR car how what does it mean to carry a 100 million that that's how much stock I've I've got that that's what carrying it's what I have that that moment or you or sold yeah yeah and it's against other positions that I've got on in the options World which is complicated so I don't want to go too deep into that

but so a lot of it is Hedging and some of it is just leaning a certain way based upon what you're seeing coming in if but but you you you're not investing a hundred million Well here here's the best part this is the best but do you have let's say this is $100 million do you have a $100 million of your owny money at risk on any given day leveraged leveraged y even because of this if you're a market maker Grant um so like if you want to buy $100 million worth of Apple today you'd

have To put up 50 million your brokerage would put up the other half 50% and how much I need at the brokerage what's that how much would I need at the brokerage 50 million you'd have to have at least 50 million at The Brokerage then Goldman or TDM a trade Schwab would put up the other 50 for you um if you're a good risk yeah yeah now on the other hand if you're a market maker you have zero reg te they call it regulation T is how much money you have to put up for every

Position you put on so we had no reg te zero so in other words Pete could make a million dollars trade like a hundred million so literally he might have aund Million worth of AOL in his account and he's got calls and puts against it um they will charge him interest on 99 million ion every day so he's got a trade enough to make up the interest on the 99 million or if he sold it he's getting the interest himself on $99 million okay So so there's good days and bad days I want to let's

be honest what's the worst day you ever had oh that's a really good question that was seven figures that was a that was seven figures mean well in that in that particular case it was probably in the millions a couple million bucks and it lit happened in 10 minutes yeah that's the that's the pain side of the trade being being on the trading FL what time of the day did it happen oh it was Probably like 11:00 in the morning Chicago time at the time you remember where you were oh yeah I remember the whole

TR I remember everything I can't tell you some of the details on the trade other than the I mean not it's just to protect myself because I said things to the person on the other side of the trade that I'd probably not want out there but right but it was you know he ripped me off he stole money from me is what happened this guy literally was A Trader from new York who knew what was going on in the market knew what he had Insider information and stole million set up million plus dollars he knew

you were going to lose couple million absolutely knew because he had control over it he had control over the whole trade I couldn't sell it there's something that they used to call uh you know when when we were trading where you you had to have what they called an uptick on the stock and I don't want to Get too complex but this guy had control of whether or not there was an uptick and I couldn't sell it because there wasn't an uptick in the stock it just kept dropping like this and I needed to sell

millions of dollars worth of shares against this trade and I just watched it go down down down down down down because you had a margin call you had time on no it was it was just I I needed to hedge the trade that I had done uh and he was in control of the other side of the Hedge now how much of the market is controlled in some manner shape or form and being manipulated boy John you might every day right now there are sites on the internet that to say how much Congress is trading

I mean Nancy Pelosi she makes 215,000 bucks a year she's worth $130 million yeah how does that happen how does that work mathematically impossible mathemat she would have to live I did the math on she would have had to been born before Alexander the Great yeah she'd had to been around 3,000 years M wow in order for that money to have grown to but on the other hand if you know that you're going to deny a uh drilling permit for Exxon in certain area of the country and you're you're on that committee or you have

found out from other Congressional people you could short that stock right right it's going to go down knowing it's going to go down and her husband does this all the time her husband Paul Pelosi is the one that does the trades now Nancy doesn't do them but they have to report them because as a family you have to report if you're long or short right okay since you know the peles clearly clearly is it true that that was his boyfriend in the house that part I don't know but it certainly seems didn't answer that one

I thought you had intimate details no no but I tell you did that story make sense to anybody else that some guy breaks in Uh to to the house uh they never found which window he came through allegedly on the second floor but they find him in there in his underwear with Paul Pelosi and I mean again I just say there are certain things that are a little suspicious about the story what suspicious enough is how do you make a 200 Grand a year and end up with $130 million and I think all you guys

that are watching right now like in comments just Throw how do you make sense that Congress can trade I cannot do insider trading right no you get taken out in C how many years would I spend doing that if I knew about Exon between seven and 20 years yeah what did Martha get uh Martha got uh I think six years and they gave her one day off for every day she served so I think she spent less than three uhhuh yeah but but still I mean for a 2,000 sh tra it wasn't hundreds of thousands

of shares it was a Couple thousand shares how many times but the deal is uh under Obama Congress did pass because it got on 60 Minutes and people got upset so Congress passed a rule that they couldn't do insider trading and the president was ready to sign it and then they changed it Congress changed it they just wanted the headline Grant to make you think that it's a fair deal but there are bad people that do insider trading there are Congress people that do insider trading We could argue about how bad they are and it's

both Republicans and Democrats but there's a lot of information that people know that's what we follow with unusual activity unusual activity is what volume yep uh buying and knowing if it's bought or sold but yes its volume is its size is it something significant so what's your biggest what's one of your biggest hints like historically you look back and you say do we saw something Happening unusual activity what's give me an unusual activity two out to you okay the first one will outrage you okay the first one I like being outraged you're outr 2001 better

not break my glass though okay in 2001 somebody came in on Thursday and Friday uh before expiration to buy a lot of puts in American Airlines and United Airlines puts is a going up uh put is an insurance policy uh um that protects against going down or make you money When it's going down1 what happens somebody flies American Airlines and United Airlines into the Trade Center Trade Center World Trade Center only those what day was this what day was this uh September uh that was September 11th oh my God so but they came in to

buy them on the 7th and 8th uhhuh and we we so let me understand they bought a put so which is the right to sell so you see some unusual activity 10 times normal activity the right to sell so What did they put up a penny or 10 cents or uh they they paid about $2 and it went to I think $20 or more so $2 to 20 in other words 10x so they have the right they have the right they have the right to sell it at 30 bucks a share both American and United

and both of them opened after the market reopened after uh 911 we closed for a week when the market reopened we were already giving our data to the FBI uhhuh um because of the unusual activity because We said somebody knew because they only bought no I IBI knows because every trade in the United States anybody get uh uh put in handcuffs well we don't know we know that they could follow the money though because all those trades clear at a clearing firm was it an American was it a Saudi was it it was uh people

in hurg Germany that placed the trades and that's where the terrorists were based prior to coming to the United States so Did you make money on that trade no no no we didn't follow the trade no we didn't see it back then saw what what's one you've seen um let's see mean can you calculate what this guy made what this guy could have made on the that guy in hurg G guy or gal probably whoever supported the terrorists back then um probably 30 to $40 million on the trade um another one that doesn't seem like

a lot of money well like if you knew that why not make a billion you could you Could have I mean think big enough Casino Royale with uh the first movie with Daniel Craig the first Bond movie with Daniel Craig he uh they wrote Into The Script basically that they wrote Into the script that somebody was buying a lot of puts on an airline that was going to get blown up on the runway and then destroy this uh uh prototype and so what happened James Bond stopped it from blowing up and the guy lost all

his money on the puts he would have made was That after the 911 oh yeah yeah this is 10 10 11 years I got a good one for you give me unusual John probably was going to this one next but I'll jump in here because I had just started at C uh CNBC doing a show and we were a couple months into it and they were asking me some questions and I said well I said I'm seeing some really unbelievable unusual activity and I'm not sure do we want to even talk about this wow and

uh they said yeah we want to talk about it I Said all right so I went on before the show during the show that was before the show it was that that show was in the evening and there was a trade during the day but it it sort of spooked me a little bit because somebody was uh looking out and buying some puts in bare Sterns now Bear Sterns at that time 200 what what was this 2007 2007 God so Bear Sterns is trading 67 bucks a share uh the CEO absolutely confirms everything is fine

there's no Real big deals out out there all that kind of thing right I mean everything's everything's just hunky dory it's all good well I'm seeing all these puts being bought but they're not buying something uh that makes any sense at all Grant because the reality is you wouldn't go way out of the money in in other words stocks trading 68 they're buying the 30 puts okay doesn't make any sense because look how far it has to drop before these actually kick in but They bought maybe 35,000 of them for about 30 cents and I

said God this is a head scratcher cuz this is kind of scary to me I don't know what the heck these guys are thinking but they think something really bad is going to happen typically you would buy one with a one or $2 variation you might buy $ something at the money so like if it's at 68 maybe you're buying the 65 puts yeah I mean this is like making a bet on black seven yeah it's like Armageddon The end of the world kind of yeah yeah but lo and behold all of a sudden the

next thing you know we have and this is kind of the kickoff of the financial crisis before anybody talk everybody always goes back and they go well it all kicked off with L Brothers right which is September October whatever this was way back in March I remember like it was yesterday the are March 30 puts they pay 30 CS for them or whatever it was very very close to 30 C and within days this Stock is now trading all the way down to like five bucks and then it goes all the way before Jamie Diamond

and them took over what was it down to almost zero it was yeah and they out of the goodness of their heart they first were going to pay two bucks a share for it he ended up 10 paying it out pretend yeah how much money do you think those puts were worth well they went from 30 cents to almost $30 so you're talking 100x yes this is real this 35,000 shares yeah so how much Money would that no no 3.5 million shares 35,000 options every option shares hundreds of millions of dollars yeah oh yeah yeah

yeah that was a scary one and they did the same thing in General Motors they bought way out of the money theing well because they knew General Motors was you know underwater they were over lever they did it in the financials uh as far as uh real estate brokerages they did it in the mortgage companies They did it everywhere wow so so now today when you look today where do the everyday people go to look for unusual activity our site US market Rebellion that's anx Rebellion I want you I want to know you guys you

guys like 10x trading or you like 10x trading Rebellion what do you like better well we'll have to see which ones 10x trading let's just do a little survey 10x trading to me like it's like You one words are always stronger right because Apple um Google it's not Yahoo yeah it's one word it's you know Welles Fargo it's one word really wait a minute he just he's as bad as the president president said I got one word made in America every make made made in America is one word dude come on let's okay it's a

flag dude I get I get an image of a flag okay so like where do I go where do people go other than your like how would I find Some unusual activity today what what would you do what are the steps to Grant find we don't even see it by the way Grant because um it when I started trading in 1981 on the floor after being with the Bears um we were seeing about gang before G 100,000 uh options traded every day uhhuh um when Pete started it was almost a million a day in '

93 um today today 45 million shares a day options per day options y options and that represents You know billions you know almost trillions of dollars so you're saying now you can't see the unusual it happens so fast it's almost the speed of light they trade 8 million quotes per second uhhuh on the floor uhhuh because it doesn't really trade on theity anymore we do do because we have computers in the data centers um that are picking up every single click so you're saying the everyday person has no access to this dataone no they have

no No chance so what Le let's say there's 330 million people in America what tier of those people have access to this data you know fractions of fractions of fractions of 1% yeah you're talking about the 1% not not we're not talking about that right we're not talking about rich people you're talking about institutions that are controlling algorithms they trade I mean you know whether it's Flash Boys by Michael Lewis great book um or whether it's the big Short all of these things they trade so fast the human eye can't see it and then you

don't know were they buying them or were they selling them you just see volume so the important thing that we can Define for people is that we can tell you if it was bought and then the direction is it going to be bullish or bearish bullish to the upside bearish to the how often are you right about 80% of the time oh that's good yeah it's pretty consistent but but you know it it it is A difficult thing the whole process I mean John brought up the word algorithms the the algorithmic trading we traded 58

million option contracts just this past week in one day so when you think about it like that we're averaging 45 million but you every once in a while it dips a little bit sometimes a little bit higher but that's all algorithmic trading there's no humans making those kinds of Trad this is based upon hey the 10year yield is here now we're going to do this We're going to buy this we're going to sell these we're going to do all these things and it's all just bang bang bang but you can't even see it yeah AI

makes it even scarier because the artificial intelligence learns from the data that it gets if you're giving that artificial intelligence good data it's going to be able to find patterns where you and I can't find them yeah so to me if you guys like this is why I don't touch this space this is why I'm like Fu I ain't Doing this [ __ ] like like this is this is this is casino on like times a billion yeah like when you tell me 0.001% of the public can even like even knows about this data MH

how does the everyday person feel good about even being in the stock market I'll tell you how um if you're buying stock alone yeah you're in trouble that's why our new book is called it's not an option because it's not an option to just trade stock if you Trade an option however you are defining your risk when you go into the trade if you bought for instance Grant I'll use apple again if Apple's trading at $177 a share and you buy 10,000 shares of Apple that's a lot of money yeah you know because every thousand

shares is $177,000 so you're putting $1.7 million of your money at risk now it's not going to go to zero overnight because of course Sterns did well yeah it's not be St these guys was a time when was Apple Stern was Apple like most of the audience didn't know enough 100 years ago Dude these were the biggest freaking names in the world they were gold standard and there's a bunch of them that are gone like EF Hutton or shear and lean and all that be Sterns but um if you're somebody who's putting 1.7 million that

would be a small trade for Grant no uh in the market it'll be a trade I'll never make in stock um that would be a massive trade if that stock Opened let's say Tim Cook or somebody on the board did something bad yeah and the stock drops $10 yeah you just lost $10 times 10,000 shares you just lost a 100 Grand like that rather than 1.7 million you only lost 100 Grand but if you bought an option and you spent $5,000 on the option that's all you can lose is the 5,000 and if you're right

you're getting leveraged returns to the direction that you're playing so that's what Pete and I teach people is you Should use options to Define your risk and to get good leverage not the bad leverage that people that only trade stock have yeah and it doesn't mean you can't still trade stock you can trade around the stock with the options and I I don't want to get it too complex you guys you guys there way you know y know a whole bunch you can create things you can actually buy protection against your stock you can also

sell something to give yourself a way to get a stream of Money so there's a lot of things you can do so Pete when you see me buy a piece of real estate okay yeah big giant building yep and I'm like what do y'all think I'm just a coward no and I sit there and wait for 10 or 15 years or rent why did I invest with you I think you're brilliant I mean I I I gave my wife $100,000 of one of his Buildings gave gave it to you uh you've been paying her monthly

Returns on that money so I love that she loves that because She knows what I do is substantially more risky when you're buying a building for 175 mil and you're operating it at 93% occupancy for those renters and so forth and with interest rates where we are a lot more people are going to be renters for longer that's pretty damn safe yeah um me trading the way I do is very safe also I don't know how y do this every day it's a levered return yours is you're putting 175 mil I got to make one

Decision One Time sit and wait And just wait that's good that's a good way I mean you at least have you understand the risks and everything that you've got on there's still risk there yeah there's risk everything so tell me why because I'm in that market right we're not even using debt today because of the tenure yeah and because of what the fed's done which I think is completely exploiting the American people the everyday middle they're going to drive it into a recession if fact if If J stays on it I I'll just tell you

I think Jerome pal is an extension of the fouchy program to shut America down when fouchy ended Jerome stepped in they look similar they act similar they both talk about the thing they both talk about something that's invisible Co was invisible inflation's invisible I think we're so far past the inflation thing personally when I look at shelter uh rents home prices mortgages uh even fuel prices like uh if fuel prices were so Expensive everybody would turn electricity off anywhere you go electricity is being run MH so it must not be that expensive because if you

cranked it up 10 times everybody start turning the lights off like when we grew up I get beat if I left the lights on yep so my question to you is why did the banks 11 raises okay the fastest raise in the history of this country yeah why have treasury bill rates gone up but my Sav account or checking account still Only pay me a quarter or a half percent for most people yep well that's because those banksters as many people call them aren't sharing that wealth with you they're making a lot more money because

mortgages went to eight but my checking accounts paying me maybe a half so that sounds very few people are getting 5% from a treasury bill right sounds like 7 and a half% scalp there to me yeah it's pretty good scalp they ought to be making pretty good money and they are But are they are the are the banks safe right now I think the banks are more at risk right now safe No but are they making money yes they're they're definitely not safe I mean there there are a lot of issues that they're they're facing

to this day though them and the credit card companies and everything when we talk about debt all the time we we you know when you look Deb student loan debt you got a trillion dollars in credit card debt I mean there's there's A lot of things out there that I think should scare people at this point well that being one of them student debt yeah 1.7 trillion cred C debt the worst part Grant is that they there was a study done at Harvard I'll make it real quick but there was a study done at Harvard

this guy took a bunch of rats put them in the pool let them swim on average the rats were exhausted and starting to drown in 15 minutes okay he didn't let him drown he pulls him out of the pool Gives him some food wipes them down makes them feel good and things like that and puts them back in the pool take a while my wife treats me I know I going yeah yeah so how long do you think they swim the second time and seven minutes less time NOP three more they swim two days two

days why dude because now they know I don't get it I don't get it because now it's ingrained in them that somebody's going to save me the first time around they They get tired and they start cramping up and they go oh I don't know and they give up uhhuh they don't give up the second time the second time they're always thinking Grant's going to come pick me up and fck me out of the pool well the same thing happens with the FED with lending money and all this kind of stuff you know 2008 people

got their homes taken away and all that kind of stuff this time you think anybody's worried about it because they're like Well my neighbor had five homes and he filed for bankruptcy and now he's right back and now he's got you know three jet skis and a boat and not not a 10x jet but he's got flying around in a cesma like it wasn't the end of the world somebody's going to step in and save them so they'll continue to take more risk is my analogy to the rats yeah the rats kind of took me

off they kind of took me out but but but so let's get back so so why the rats why why because If I was the rat and you saved me in 15 minutes yeah the next time you put me in I'm like [ __ ] it I'm a quit in too this guy's going to wipe me off and give me a hug I'm not going to why why wait for two days okay but so I didn't quite make the connection all right I'll give you your brother your brother smoking weed on the weekend he's doing

something I don't know what it's Puerto Rico maner Rico bro okay and we're going talk about Puerto Rico but so so why are The banks like you say they're not safe okay there's three bank failures in the last year uhhuh one being the biggest bank failure in the history of this country MH everybody in America's forgot about it the headlines forgot about it CNBC doesn't talk about it in my lifetime 65 years there's never been three bank failures without 300 falling M yeah never there's never been ever in any decade uh 95 200000 uh except

for this one has only three banks failed will more Banks fail well and why have not more failed here's here's why those failed uh for the most part it was mismatched maturities so meaning that the banks got all this money in because people were given free money um during Co none of us asked for it we all want it but they just threw money at people a lot of that money went into um First Republic which is one of those big failures talking About silvergate and Silicon Valley Bank all those three um they're all out

in California surprise surprise so anyway what did those Bankers do with the money they got well first of all they they played the uh um equality cards they had people that weren't qualified to be in the positions they were in because socially it was more acceptable to have them as an investment officer of the bank and so forth because they said well no banks going to fail we're like those Rats if we start to fail they'll pick us back up out of the water forget about that Cardone rat over there yeah yeah yeah just wanted

to get rubed but so what what happened then was they invested in treasuries like one two five this is the mixmed maturities okay so they went a fiveyear uh they bought a five-year treasury paying 2% right now what happens when that fiveyear goes to 4% which it did in March so it goes to four now which means The value of those went down because they go in the opposite direction of bonds when bonds are going every Bank in the country every Bank not just these three BR they all did it but these were three California

banks that are the um most politically correct have $2 billion worth of loans yeah okay okay these guys when sold these 37 of my my loans are 10-year terms okay there's 37 loans I know of personally that are 10 years some of Them locked at three mhm that money would cost six today seven yeah easy maybe even close higher so when these three Banks went down they rewrite in the law keep them it keep all assets all the treasury bills at Market yeah because these and that's not the market that's not the value those treasury

bills right you agree they all came down 40 or 50% keep in mind every Bank in the country there's no bank There's no Bank you agree there's no bank that has not participated in what you just describ as the mix match maturities yep there is no bank that hasn't but it's how much do you keep on hand because the problem was Grant those losses that they were taking were on paper there as Buffett says it's not a loss until you take it meaning he's been in Exon Mobile before and he's sucked hind tit on that

and it went down uh Warren Buffett one of the best investors In the world has twice lost a lot of money in in energy plays why um he picked the wrong time he got in his timing wasn't as good blah blah blah but he it wasn't a loss until he sold it's only a loss on paper until so so with those Banks did he end up losing a lot of money in the energy play yes in both so now he's making loading up on oxy oxy yeah but ocidental petroleum not oxy cot so when he's

uh in here buying uh those bonds um Warren doesn't have to Worry the way a bank does on a run meaning that all of a sudden Grant Cardone comes and says I want my 20 million bucks I want it now my depits and and the says we can't give it to you right now mrone like you better damn have it tomorrow it's my money or I'm reporting you to the fed and soth so all a sudden the line starts forming around the bank right of all these people that want their money they've got to start

selling those treasuries now just like With Buffett they have to take the loss because they started selling they they're selling those treasuries they have to take that Mark now they don't have enough money to operate the bank yeah so the government comes in over the weekend shuts them down yeah like Pete said there are most of the rest of them like um everybody from Jamie Diamond at uh JP Morgan to uh uh any bank that you would use you know Fifth Third whatever they have massive amounts of free cash Because they don't want the run

on them but these Banks were greedy in California and mismanaged and that's why they lost yeah you think yes there's only three roaches well there out there it's just a matter of when and and and if if the circumstances get bad enough like John said it becomes a situation where they do get bad enough and that's that's when it you know starts to H why change the rules Pete to to hey you don't have to write your you Can leave all your assets at Market yep until you sell one until you sell it until you

sell it as soon as you take that Mark that becomes the new Mark meaning that um all of a sudden all your returns are at 2% and you're like well just going to take them out to maturity then right but then if you sell that one and now it's at 4% you got to take the loss the difference between those two and that's what crushed them we're good so you you think you think banks are not Risky right now no I think they're not I'm saying they're not as risky as they were in 2008 for

this reason all of those mortgages eventually end up with banks or the FED um but people don't have as many adjustables Now Grant just like you they went for fixed because when mortgages you're talking about residential there is so much commercial where the risks are that's the real risk commercial or risks the greedy guys just Like the greedy Banks the greedy guys that uh were out buying buildings your competitors that were buying buildings and instead of locking in 3% or three and a half% said n give me an adjustable because you know I can get

an adjustable for one and 3/4 or two I'm going to take that and all of a sudden they move 11 times like you accurate we did seven we did seven of those okay okay you know how many Starwood did how many 7,000 you know I mean Blackstone did 10,000 in the State of Florida there's so much paper out there problem so that's sitting with banks y Banks life insurance companies Pension funds Sovereign funds yep the State of Florida cpers metti yeah it's some trillions of dollars it is so what happens when that hits um it's

coming due here in the next 18 months and you've seen they're throwing their keys on the desk of the bank they're saying yours yeah it was 300 mil now it's 175 yours I'm walking away from this building or from this hotel or whatever it might be anything in the commercial real estate space so are there risks there yes yeah yeah and there'll be tremendous opportunities for people like you yeah yeah yeah yeah that's the beauty of it I mean you keep saying there how risky are they all the rest I think there is a quite

a bit of risk no doubt about it but it's it could be also a huge Advantage for those who Actually have something to be able to do something against that risk too buying things that Pennies on the dollar my suggestion is we become a bank yeah a bank of the people it's never been done a real Bank a real Bank the black community did it successfully uh 30 40 years ago Y and then they got wiped out somehow like they they they undid the whole system I mean there's how many banks in this country are

really run in the country JP Morgan yeah probably big Big five six what's Goldman got assets under management 2 trillion 2 and a half trillion JP margan probably the same size or a little B way bigger way way bigger Schwab's what seven uh four trillion five trillion but that's custom that's customer deposits okay um yeah Bank of America so Bank of America is better Bank of America city um Fifth Third um five or six seven big Banks yeah and then a bunch of regional Banks right yes sir y uhuh that's all they is And they

wanted to be fewer than that because then it's less work for the FED less work for the people that come in and do the Audits and got to check everything and so 3700 Banks M there's five or six seven of them that are that really run big too big to fail y yep there's systemically uh uh um important they call them cfme or something like that uh but anyway they're too big to fail okay then there's in the stock market there's what how many stocks run The S&P 500 well how about this I'll throw one

out to you my favorite stock Apple so Apple has bought back uh the equivalent of 480 stocks in the S&P 500 they've bought back that much of their own shares that's how big apple is Apple .5 trillion um they bought back as as much as the value of 480 of the 500 stocks that are in the S&P 500 wow just their own stock that's all Apple has bought as Its own stock now when they do that do they borrow money to do that or do they those are cash both they don't need to but they

do why because it's Che when it was cheap they're still money because they have 180 million 180 billion Cas in cash so why would they do that it's like it's always me because they can invest that money that $180 billion and get a bigger return than the banks were charging them to borrow uhor the right moment they still Bor money today I'm Guessing they are not not at these numbers I would say absolutely not uhhuh they would be paying cash you think yeah okay so so Apple's buying you know back 4 so so what what

is there Apple Amazon Tesla I don't how Tesla got in the group nid moft Facebook meta I guess Microsoft that 20 stocks that really rock the S&P 5 the S&P 500 right probably and if I took those out where were the S&P 500 or the exchange or the nasda be down on the Year substantially y so why do I not just invest in seven stocks the Magnificent a lot of people do that yep most of the stocks I own um I own less than 10 and most of them are the stock the list you said

Apple's the biggest the risk that you run though when you do just those seven think about this so they had that great run in the first six months of the year right I mean that's that's just the factual side of it but since then they've been kind of Meandering around a little bit now they found a little bit of footing but you know it it's when they go down they're going to go down just as fast if not faster right if there was a big correction right those would be the ones one how big would

it be and two why would people sell the good stuff is it just because because that's where their cap their Equity is and they're having a cover other stuff they tend to take their winners they they panic and hit The winners okay so so those could go down like you're just getting rid of stuff to get and they have recently I mean a name like apple just to clarify it got all the way up to was it 198 John or something just shy of so it got up to 198 and just a week and a

half ago it was 162 uhh now all of a sudden it's come back a little bit so yeah they hit these things whether it's Apple it doesn't matter whether it's Microsoft or meta or any of these names Nvidia Nvidia Got all the way up and actually 400 it was actually over 5 it got to 505 but actually in the in the post Market it got all the way up to 530 so I always use that as my you know okay this is where it is and then all of a sudden next thing you know this

thing's down at 400 or less yeah so it these things do move around and people do go to those winners yeah they want to sell the winners because they got to get that cash right now is the AI thing that's Propelling a lot of this is it is it over do you think the AI thing is overplayed yes but it will be here for a long time you think it's overplayed well how many AI stocks are there today anybody that can will put AI in there there's not I'm think about putting AI on my [

__ ] yeah right well there's not a company that reported earnings that didn't have some sort of AI hey by the way and we're working on AI and it's like oh boy and they buy the stock right Immediately buy without even thinking and they doesn't even matter what they said about AI but everybody was using that as as a Catalyst for their stuff how much do you guys use it minimal right now did you use it today at all no no okay no I hear everybody talking about mik when's the last time you used it

I had used it I know you use it every day I used it this morning yeah you did every morning I think you say you um have't helped you I Hear people talking about but I'm like did you use it right have you paid for it no I hear people that hey I bought I bought a AI video when's the last time you used it uh been about four days so I'm like okay and there's hundreds of these companies out of nowhere yeah how much did that influence all the tech stocks a lot massively yeah

that was that was one of the biggest catalysts I've seen in y what does it remind you of does it remind you of a another Period of time yeah um I remember when IBM considered changing its name to International or no I'm sorry internet Business Machines uhuh instead of international 2000 uh yep right around go yeah y 2K and all that whole time yeah that's what it feels like to make it does yeah you know um there's other catalysts like that and if people sign up for that just give me guys just we'll we'll put

a little link landing page below for you guys we can tell you Another big Catalyst that's going to be as big or bigger than AI how about that for a teaser write write it write it down for me I I want to know now I want to know now I want to know now let's see are you [Laughter] kidding oh yeah bigger talk about a disrupt okay uh I'm not going to even it's already done some disrupting what what what do the little guys the Everyday families out there and I consider myself an everyday guy

right do I ever get a shot at the next big thing yeah yeah when well right now I mean right now you could take you know whether it's Ai and if you think it's overhyped we could you about five strategies to put on I'm not talking about that I'm talking about the IPO the next breakthrough the next Insider piece before it's a stock before it's a piece of paper before it's an ETF or a mutual Fund does the everyday family ever get hey grab a thousand shares of this right now um they're not getting that

phone call no they're will they ever get it uh unlikely through crowdfunding who does get that phone call all the in big play the biggest insti let's say I got 20 or $30 million at JP Market okay I just want the audience to understand how lock down the game is let's say I got $10 million at JP market and how much do I need to even have an account there Probably about that yeah I don't think you'd get a private and I'm not a I'm not a I'm not a preferred customer at 10 million am

I no what number do I you're not a big fish at 10 would would I need to be there just to put it in perspective for the audience to be a preferred customer I don't get to meet Jamie but but I'm a preferred customer you might be able to see him at the ice cream shop or something okay how much money do I need to be a preferred client Of JP Market yeah probably 50 50 50 million Goldman to to be an elite customer at JP Market what do I need you know you're you're really

talking about that century mark you're talking about a hundred million do okay I'm going to tell you guys a story later about that all right I want no that's not true okay I know I know 300 million does not make you a preferred customer that right 300 didn't does not make you damn I'm just telling you we got to update our our Notebook or or it was me it was just me personally okay so so now so let's say I have $10 million is anybody at the wealth um division there are going to call me

and say Grant we got an opportunity we're launching this IPO we're taking it out on the road we want you to have it no not likely here's who are they going to call here's a great example yeah when Facebook came out yeah Pete and I had big orders in with uh I won't name the Brokers not no Facebook's Not Facebook yet we don't know about it well no we know about it but it's not publicly traded and Zuckerberg is going around doing what they call the he's moved he's moved from he's moved from Harvard to

Silicon Valley he's walking around with a stupid black hoodie on on Wall Street coming into meetings with investment bankers and they're looking at this Joker and they're like we know that there's so many billion people on this thing but you know I don't like This guy he doesn't seem like the guy that's going to run this thing anyway Pete and I have pushed in a lot of chips to get into this thing uhhuh it comes public at 28 Pete 36 I think 36 okay it comes public just so I understand people have already made money

on this privately held only the people before the $28 this is where the bigy back pennies quarters dollar stocks yep stock went from a dollar to $10 to $20 they probably split this audience is Never getting a shot at that no never never no not those especially there no okay but then Pete and John that maybe have 10 million in the game IPO now you're waiting for the IPO we're waiting for the IPO they uh they said John uh you put in for a lot we're going to give you a lot and I said a

lot is how big you know millions of dollars worth of stock okay um and I said oh [ __ ] Pete yeah why did they suddenly want to give us even more than we want usually us hot IPOs like so for instance Starbucks or any hot IPO that came out I'd put in for as much as I could get and they'd give me 500 shares or a th000 shares like you said the little guy and that's with millions of dollars is going to get almost nothing and they'd say well you know we had to give

PE by the way if you don't take them up on this one they're going to probably hold it against you later right exactly and they don't even want to sell it uhhuh so then the thing Comes public at 36 they push it to 42 the first day and then it collapses all the way down to like yeah 19 bucks and they had to defend it for a while and you knew that it was going to do that because if they're calling you know the smaller guys to say how much do you want again you can

have more you can have more I've never ever gotten that call until that stock I never got the call that I could have more than I want so that's what I want the audience to Understand this thing is on lockdown you're the chances who's going to get the go is it a pension fund a sovereign fund medlife all of the above yeah I mean you're talking about trillion dollar companies not billionaires right and this is what I've learned in the last six or seven eight years this is not about billion dollar people it's not about

wealthy individuals it's not about an Elon it's about institutions that have the game on lock down yeah well There's so much money there's we're talking trillions and trillions if hundreds of trillions of dollars you're sitting on that desk and you're wearing your Bion suit into work every day and are you going to call on somebody that's going to give you $1,000 or $10,000 no you're going to call on King of Saudi Arabia and say hey dude we got a trade for $2 billion stev Cohen up at 72 Bobby Axel Rod at x capital if you

watch billi um that's who you're going to call and He's going to say put me down for 50 million put me down for 100 million on this IPO he's going to get it flip out of it as soon as it goes double he's going to double his money overnight and why because I send you um $5 million in commissions so what what can we do about that to change this for the everyday person because there's no place I remember watching my mom she never got a shot there was never a deal an offer there was

no way for her to have an Event right so unless you're an inventor you know you're going to go create the new breakthrough drug or the new technology or be the the next Mark Zuckerberg m how does the everyday person actually ever create an opportunity to create wealth I mean from our own experience it is you know being in the game being in the market I didn't I mean I started out Grant I worked for six months for free just to get my foot in the door and get On the that was your education yep

yeah um I came off the Bears then I spent every dime I made with the Bears which wasn't that much um on buying a seat a small seat right that only would exist for for like five more years at that time and and I just started trading made a little bit little bit little bit then got better and better made bigger and bigger but you got to be in the game yeah what do you think you spent on your own education um by working for free and So forth everything working for free the time you

put in the books you read the the people that you met with probably 20 just on the with not the mistakes but just on that living paying for my well I only did it for 6 months to a year and then I figured it out um how how trading really worked and I'm not saying I was the best but I was pretty damn good at trading so that I could make money every single day I mean I had years so what do you think you spent to do that well if I Take all the money

hundreds of thousands if not millions of dollar that's what it costs man all the mistakes there's a commitment how about all the trades you didn't do because you didn't have the confidence yet right yeah what did that cost you guys yeah and you got to be the I think the biggest takeaway really is education like John's talking about yeah John wasn't he his education wasn't to become a Trader it wasn't in the financial World neither was mine I was Premed I planned on being an orthopedic surgeon John planned on being an artist you know but

the reality is we we committed to this and then we had to educate ourselves we had to figure out Comm yourself oh for me it was about the competition I loved it I mean it was no different than playing football I mean I was lucky enough to play football for number of years 86 to 92 yeah and I loved every second of it but how do you ever how do you ever replicate the Feeling and the adrenaline and everything about Pro Sports of any kind right and so boy standing on that trading floor and trying

to dominate other guys around you you know and getting a little physical once in a while and and you know using your intellect as well as your own body and everything else I mean you stand out right I mean that's why I look like a ridiculous person I got this thing I got this it's all good But it used to be it started to try to intimidate people a little and if it works great if it doesn't work and they realize that I'm actually a reasonably nice guy it's all good yeah yeah that's awesome do

you think I would be a good Trader you'd be great yeah yeah look at your discipline honestly that's the one word that John and I always use that if you're going to have success you better have discipline and it doesn't matter if it's in the financial world or the real Estate World whatever it is it's everywhere and that's where you've got to have if you're a doctor you have to have the discipline not to drink the night before you're doing doing an operation I mean there there's all those different factors what other characteristics of a

good Traer discipline discipline obviously that means when to buy and when not to buy also it's not even necessarily that it's cutting losses it's yeah the hardest Part is you know it it's hard to sell if something that's a winner that you're trying to ride right but the harder decision sometimes is oh you know what maybe I'll buy a little more because I think this trade's going to work even though I'm wrong and then you keep doing that right discipline tells you when you got to cut it and when you've got to you know maybe

trim something Dev from your your discipline uhuh you got to be flexible with it too a little bit yeah Of course do you think that discipline in business needs to be there in life too always oh yeah how you eat how you work out when you get up John and I get up every just like you this I mean you've got all the disciplin so I know I preach to the choir but I mean I get up every every morning around 5 that's how I start my day I started doing that back in college because

I played for a guy named Lou Holtz who was a very famous College football I'm his only two-time Captain ever dude and he's the nicest guy he taught me a lot we hated each other when I played for him and love love him since the day I left and uh just a a wonderful guy but he taught us discipline he's the guy who came up with the idea that hey the one way I can get these guys away from partying at night is I'm going to have practice not at 3:00 in the afternoon like every

other college in The country we're going to practice at 5:00 a.m. so that we used to have to get up at 4:00 walk over there get our legs taped you do all the stuff that you do get ready and practice for 5 or six until 8:00 and then go to school you know and it it it's amazing how that's stuck with me because to this day I wake up I never set an alarm Grant I've never set alarm in my life I get up every single day I look at the clock you now so Um

the qualities the the the the Traders what makes what's the three good qualities of a great Trader discipline yep it would be the discipline to cut losses because like I said that's the one especially the reason floor trading is so hard is I'm standing right next to you like I said I'm taking money off I'm going crazy yeah you're going crazy and I'm seeing you making great trades you're like [ __ ] I got to get I'm ready to jump and all of a sudden you know Grant looks like he's going to go for this

CR and I go so I beat you to it maybe once and then you start building a confidence now if it's not you're going to grind on me if my trade that I just sold is going my face now it's going higher and higher you're going to be saying [ __ ] nice trade John that's a great one huh how you going to pay your mortgage this month how are things good you know until you get into my head and now I can't get You out wait is there a bunch of people on the floor

right now oh yeah well not anymore not anymore right but there're that's why it was so tough though what's more difficult now is that you're sitting around at home and you're sitting there with eight screens around you you know 10 ft high you're sitting there you know working the mouse and doing all this stuff and it's silent unless you turn on the TV and the TV's you know almost worthless to you yeah so You're just sitting there going God you know you're writing losses longer because you don't have me standing next to you because if

if I'm standing next to you you're going to as soon as that thing goes from 70 cents to 6 you're out you're going to say I'm out and then if you have VI discipline yeah okay what's another quality um I'd say uh who's a great traitor who like like who's somebody you guys really respect just think about that person and tell me What are some qualities that person has all right here's one Mark Fisher Mark fer is a friend of ours he lives right down here Ken Fisher the not Kish why you laughing about k

no no I'm not laughing about k these are totally different personalities po Ken's dad was an unbelievable uh investor right oh yeah I'm sure Mark but Mark was one of the biggest Traders on the uh New York Merkel exchange he had this one huge the Contract he's trading natural gas is a million dollars for a one lot in other words just to trade one uh you had to have a million dollars in your account and Mark would make and lose un unbelievable fortunes on the floor in a in a day before lunch single he went

from a guy that had absolutely zero when he got today even after a divorce probably uh 750 okay maybe a bill okay um but sorry Mark he might have cut you short yeah He's saying you're underestimating me John you have no idea he would he would say that the number one question you should ask yourself is much can I lose uhhuh he said it's not how much you can make he said anything I invest in John I always do it by how much can I lose uhhuh uh because he said that's the number I want

anybody can throw out an optimistic number how much can I make but he says how much can I lose that's the second most important thing I think Okay and then and then third is there a third quality like are they educating themselves are they learning all the time are they reading stud I think you're always learning and and I was going to play off of that a little bit not only the learning the the learning side of it but I think I think the reality is that you you have to be in a position where

you can make that quick decision because sometimes it comes down to that and you have to make that call And and by doing that you've you've used the discipline you've used all the things that John's talking about but it it has to it has to actually work into one solid thought which is hey I already know everything I need to know about Apple I need to know I mean like John and I you're not going to study something at this I already know it you got to know I know that these guys have this much

free cash flow I know theyve got this this you know you got to stay Ready not get ready so you've got to have the fundamentals in your head already and that comes with just experience and just researching the the [ __ ] out of everything I mean knowing everything about you know as much as you can I think I can learn to be a Trader man because I'm sitting okay I'd have to know I'd have to know everything I'd have to know everything about the company i' have to be very decisive confident in myself know

my mistakes Know my downside know the upside hey I know I'm doing the right thing like when I buy a piece of real estate I know I'm doing the right thing it's just when I'm doing it's going to be the right thing how about this one yeah on the floor same thing upstairs now but there is no on the floor anymore right why you back there well that's it's it's ingrained it's all part of yeah when when we were on the floor like I say and I think it's the same Now Grant upstairs the some

of The greatest upstairs meaning I'm training from home or I'm in an office got it got it there may be um a guy who was a manager or she might have been somebody running a hair salon and if they are disciplined and they apply the things that Pete and I just discussed with you they could be one of the best Traders on the floor didn't matter if you're a cop didn't matter you're a hairdresser um a back Amon player a chess player a professional card counter From Vegas I know guys that can count a five

deck shoe um they can't even go to most casinos because they know them soon as the guy comes in okay Mr Cardone we'll be taking you out the back door um there are guys like that I'm sure there are gals like that too but any background can be a winner at trading as long as they have that discipline they learn how to do it so the education like you said important discipline number two and then third is okay how much can I Lose and once I hit that for the day I'm out I stop I'm

not going to try to make it all back today I'm going to be disciplined come back tomorrow yeah okay let me ask you guys about let me guys I can't imagine coming back tomorrow I buy [ __ ] and I wait 10 years um okay let me ask you about last week no no yeah it came out that Dave Ramsey okay said that at $550 Bitcoin was trading at 550 and made a statement if you have a million dollars The fastest way to lose it is invest in Bitcoin today bitcoin's at $ 35,000 that $1

million would be worth $65 million okay okay what do you say to Dave Ramsey today about crypto Bitcoin Etc yeah he didn't do what you just discussed is you know everything about that building what's the what's around that building what are the competitors charging for rent all that kind of stuff Dave Ramsey didn't know [ __ ] about Bitcoin because one of the reasons he's not the only Person that a lot Jamie Diamond trashed it took forever iMed trashed it Charlie still trashing saying it's garbage it's not are they wrong yeah it's a I mean

Dave Charlie Warren and Jamie are idiots well they were idiots about Bitcoin okay they they're not complete idiots but they're idiots about Bitcoin and one of the reasons is that assets gather their value by their scarcity That's why Satoshi Nakamoto the so-called founder whether it's a person or a group that's why they created something that could only have 21 million Bitcoins assets gather their value by their scarcity so they push it out there and they say okay the government's printing money every day that's why Satoshi again person or group did what they did which is

what 20 years ago now 18 years ago yeah 2009 they came out with uh the idea here or they came Out with the idea that let's create an asset that has limited you can't make more of it unless over 50% of us agree like right now the government's printing trillions of dollars they don't even it's now it's just it's just digits like that it's not even printing it's not green ink on paper and all the rest it's just digits that they're it's already a bit of a blockchain it's a digital well so chain of government

he said that's making our money worth less not Worthless worth less and so he said but if I create an asset that there can only be so many of these just like there's only one there's five Mona Lisas we know of right now but there's only one hanging in the Lou that they say that is the Mona Lisa the others were things he was working on and didn't finish or whatever um how much is that one asset worth almost a billion dollars okay so why did he not get it because he's giving people Financial advice

on credit He's looking for headlines I think Dave Ramsey more than Buffett and Munger was looking I think we just more from an age perspective it just was out of their realm I think you know and I don't mean that in a negative way about them at all I think they're the best investors maybe of all time but they just didn't see the vision of it and I think that they they would probably to this day maybe admit that they've made a mistake on it in Order for you to are you guys Maxi are you

guys Maxis I I like Bitcoin but I do like eth and several other altcoins but Ripple you like Ripple I do now now that they've got that lawsuit behind them I like I like the miners because you get a little bit of extra oomph to the whole thing yeah so you could own ri blockchain right well like that thing I wrote I want to get the 10x that's where you get the 10x it's the the side Markets that where you really make a lot of money yeah but as far as Bitcoin um and would this

affect it uh the fact that there's still limited Supply how many stock trading accounts are there in the United States right now let's say 110 million is that what there is yeah okay roughly one for every one for every three people three people yeah how many crazy software and Hardware wallets are there in the United States right now one for every 10,000 people or something Yeah probably in other words because when they gave you the Bitcoin it's not like they just handed it to you they could hand you a jump drive and give you a

Bitcoin on a jump drive which is more or less like a traser and some of the other uh popular Hardware wallet and things yeah I know but I mean for that they can hand it to you like that but other than that most people um if one out of three people has a stock trading account can you imagine that they all of A sudden have access to Bitcoin now and they don't have it's going to be at Black Rock a multi-trillion dollar company and they don't have to worry about how do I hold this thing

am I going to have St Sam bankman freed steal it from me or whatever um how many years should Sam get life no pearl no I mean it was no I'm with him it's it's unbelievable what he did so I think I think you think he did it with intent to hurt people or or Caught up in it lazy stupid greedy stupid yeah no discipline you think yeah he you think he should spend the rest of his life in jail and never see the light of he didn't even ever know what they were investing how

about that when they were talking to him about you know make an example yeah um let's back to Warren now okay okay why does Warren Buffett tell people to invest in ETS and mutual funds when he has never done that himself he also is The largest option Trader in the world but tells people that they're uh weapons weapons of mass destruction why does he do that why does he do that dude like because when I see the old man I'm like God man he's so believable so softspoken got his coca colola with him got his

seiz candy sitting on the thing I'm that [ __ ] every day I'm pitching [ __ ] every day when Warren does it everybody's like I love him so much but I've stumped him A couple times yeah I'll tell you one time tell me so he was really behind and mad respect for him by the way I've seen everything he's done every interview I've read his book everything like we had him on the Network CNBC where Pete and I used to work we had him on there and uh he had just purchased um something from

the pritsker family um and it's was called Maron Industries um and he was a big fan of the uh Obamacare and he was a big fan of it because he Didn't have that many employees because Obamacare costs employers a fortune which we were which you are cost them a fortune and it's not really better than what we had before but anyway yeah off the soap box and onto this so he buys Marmon industries from the pritzkers he Maron Industries as well it's like two or three I think it's 270,000 employees that do every kind of

business in the United States it's not the high at hotels that's own nobody's Heard of okay really nobody had heard of them but when the pritzkers wanted to break up their fortune and start doing it out um they needed a buyer so they went to Warren a lot of people do that the guys with netjets went to war War you know anybody that's got something big to sell goes to Warren so anyway um he uh he's on the show with us and we're talking about this big purchase and he's all you know a Shucks and

all that kind of stuff and I said sir I have one Question for you you've always been a big supporter of the Obamacare um Medicare for all sort of thing um and it's quite expensive for employers he said well but that's what should be done John you know to sometimes focus on what should be done and I said okay well uh you just took on 270,000 employees so now you're going to be part of it too it's not just you investing and having you know right 20 30 people in Omaha now it's all a sudden

you have 270,000 Employees they said how's that shaping up for you did that go into your Calculus and he sat at the back and he was like uhhuh but you can kind of see the wheels coming you know like oh this is going to hurt me too and it's like yeah and it should but anyway I think he's brilliant he's sitting on $57 billion right in cash right now more than he's ever okay he sold a bunch of stuff in the last nine months why is he selling Right now what does he know that we

don't I think he knows what you know what you said about commercial real estate that that is I mean when uh mortgages blew up and people had home taken away in 0708 09 that was a big problem um because it pushed people out on the street this one won't put people out on the street but it will hurt the banks heavy heavy when these guys are throwing the keys across the desk and saying you know what yeah I gave you 30% Down or whatever it was but you can have the rest of this piece of

you know what U because I can't I can't make the numbers work anymore not at 8% you're either going to yeah this cycle will not be about um strippers and pizza delivery men turning back the keys this is going to be about the biggest institutions in the world saying you got to either rework the loan you got to push it down like why Wouldn't they just push this debt problem down the road will or will the FED drop interest rates to solve the problem oh if they go back to three problem is solved yep yeah

it would be and Pete and I just did a a show where um up in Orlando where we talked about will the FED drive us into a recession and I think the answer is yes if they stay as aggressive as they've stayed with moving these rates up so quickly now we've had two pauses in a row yeah Hopefully that continues but if did you guys did you bet there would be a pause or did it was yeah you did huh you there's a way to know okay do they raise again to the end of the

year uh they're right now it's an 82% chance that in December they pause again okay I mean there's actual there's actual a place you can go on the CME site Chicago Mercantile Exchange site that tells you it's called the FED tool and it gives you the percentages of exactly what with All the numbers put in there how often are they right about 100% yeah pretty damn near because it's everybody that's trading bonds everybody that's trading bonds would have to be surprised by their move now now even if they don't raise okay and then we'll wrap

up here uh but but even if they don't raise MH if there's nobody that wants to buy a threeyear 5 year seven year or 10year Bond even when they go down won't they still go even when the FED goes down if There's no buyers for these 10 year five year seven years won't they still go up um if there are like you said it's uh supply and demand right so if you have the supply which is ever Rising because we're borrowing more and more money because the debt I have more bonds to sell right yep

I've got more bonds to sell so that's the Supply if the demand drops off price has to the FED is no longer in control right the FED loses control because the Saudi saud's like Yeah we don't want your bonds so but you get them to 8% or 9% or 10% we'll buy them yeah now what would correct that I think I'm just asking questions is if what no I'm just waiting why would China buy why would China buy our bonds right now or why would Russia buy them well because we need that we you need

that volume but there was a major war if there was a World War and every country Now is at risk okay I can't imagine uh you know would wouldn't money start moving back to America because we're still the safest safest and because we've got these two great o drop the rate again right yeah true but if don't you need both of those you need the the FED to drop and you need buyers right so if China invaded Taiwan rates have to go through the roof why China invades Taiwan Taiwan because China uh number one it's

going to be a an ugly War but China would also not purchase a single Bond why would they give us money because they're they want to hurt us if they're going against us in a war they're going to pull back yeah they're going to pull back and then what is Japan but China can't do that China can't do that China China depends too much on America man for for for us to buy stuff I agree with that and that's why I don't think they invade Taiwan I think it's posturing yeah but um you Know depending

what happens with this election um you've already got you know just this week uh Trump's leading in all but one battle ground state okay who who wins the election you you open the door so does Trump get convicted on any count in any of the four states no Z what do you think yeah I think that's probably right probably no convictions right how about H the real estate when the judge said marago is worth 18 mil and it's like are you kidding me you can't buy a Tent a tent on that piece of land for

18 mil yeah he could sell that tomorrow for $500 million yep um and that's coming from a guy who knows real estate well yeah I might be going to New York actually to to to to do something regarding that whole thing I just got a call yesterday that's bang bang okay okay so so so um man it's a great having you guys here um so cool now now let me see there was one more question I wanted to Ask you guys though man it was an important question to it better be good right how low

can the S&P 500 go if there was an event what's it at today 4300 somewhere close to that um how low could it go if there were an event and I assume we're talking about you write your number down you write your number down I want to see how close you guys are okay I want to see and I'm I'm it's how how far I can get I'm telling you um You know 911 event 9/11 event uh so a terror attack country terror attack here World War III something unexpected nobody's thought about another coid another

event major event how low could it go okay oh you got you gave me a Range I'm probably too high he got way more guns I just gave one number I gave him a r he gave him like 10 I gave him zero to five yeah so so that's not that's not much of A correction that's not much of a correction 700 points so he put in 34 to 3700 he put in 3600 so we're ballparking each other I guess yeah yeah so I mean that when when was it at 3600 last two years ago

not terribly long ago yeah I mean it's under two years ago I know more about stocks than you guys thought no You' done I got a little oh we knew you knew a lot about stocks you kid me it's less than 20% it's 15% correction mhm that's not even like it's not even a Major event why dude why did I don't understand how this thing keeps holding up we have trillions like un debt the debt is the biggest issue 33 trillion in debt yeah that's not the corporate debt like that's not that's not all the

debt there is in the world okay and every other country has the same problem y we're not the only people with Europe goes down faster than we do yeah um if we have an event here Europe goes even faster than us they probably go down 20 25% again not in a day look over here right that's exactly brings money here okay so now that's why that number is 36 okay because the rest of the world Falls too yep because and we have the most liquid markets in the world too and liquidity one thing Pete and

I learned when we were trading because we had to make markets meaning you got buyers and trade sellers on both sides value so we have to and oh yeah Exactly it's just like that in Puerto Rico by the way almost no acity he gave you a shout out the Puerto Rico side he knows I'm too too heavy in Puerto Rico real estate um so if uh we had a stock like Biogen uh which was one of Pete's stocks and Micron and AOL and all that the worst thing that can happen isn't the market goes down

uhhuh and you're caught long the worst thing is the market goes down you're caught long and there's no Liquidity and you can't get out uhhuh so that's what happened to the market there's no Traders there's no buyers it's just going to keep dropping and somebody will buy it at some price at some point so if you remember you know need liquidity you got to have the liquidity this is why I love real estate right because you you just can't trade I don't want the liquidity I actually don't want you want people to hold you want

people to do what Buffett always Says which is he says you should just buy and Buy and Hold You don't want to dump out of it you know every once in a while he does we already talked about Exon and things like that that didn't work out for him but he would bought oxy he loaded up on oxy I don't know why he bought what he knows about oxy but he loaded up y yeah okay it hasn't worked yet either no US dollar does the US dollar ever go away last question I'm Asking you guys

I've already kept you here long enough I can't imagine it does to be honest with you okay so digital dollar as well all these headlines that you see okay let's go to that all these headlines I see about uh Russia and Saudi are doing a deal or China and Russia are doing a deal and they're trading in a a Remy or R Juan or whatever it whatever they call their dollars and they're doing it's the first time ever I'm like that's not the first Time ever y'all did this stuff in n in the 1990s and

two early 2000 you keep saying you're going to do it you do it once or twice it never works or am I wrong on that nope you're right and the reason this is not the first time they've attempted to trade in something other than what is it Petro dollars it's the same reason you don't buy a real estate in Canada because um Russia and China in particular and Saudi and as well as part of that trium or whatever Um they have restrictive currencies ours is free trading meaning people can buy it and sell it move

it out of the country do whatever they want with it China you can't move that money yeah which is what that's a w right yeah that's Ru Ruble and I forget ru I mean how many countries want to collect rbbl right now if they back it all with gold like they could do like we used to do that would be a different story but they're all really restricted Now you're open in a whole another category all right yeah Peter shift and his gold [ __ ] your boyfriend neighbor my neighbor he used to live up

north of me and then he moved down with Puerto Rico with John said we can't get rid of that guy I mean God damn the guy never stops talking about gold and silver like nobody in 65 years how old are you guys I'm 66 59 okay has anyone ever offered you a piece of gold for anything in your entire Lifetime never just like you with the Bitcoin they paid me in gold coins okay but I mean I didn't have the 20x that you might not making deals in Gold to very often probably and you don't

even know where that gold is right now it's in my safe okay all right far as I know yeah but but I'm saying I don't understand it why why it's scarce by the way y it has no value to me at all zero right my brother had a bunch of goal my brother Had a bunch of goal and when he went to sell it guess what they said before you get send it to us we have first all we have to be sure it's real goal they had to put it through some kind of test

yep he bought it from them right but now they got to put it through another test even though he bought it from to validate and they could only take so much at one time I'm like I don't understand this you've been they comes out of the ground you put it back in the Ground and you could always it's not limited though it never pays you any money right it you have to to pay to store it for the most part unless you've got it big safe um the uh uh the fact that people that uh

trade gold or Peter shift a cook that's what I want to know um well you live I'll take it to uh the uh Dave Ramsey thing he's just looking for headlines okay both of them were looking for headlines Peter loves to slam on bitcoin yeah and pump up he says The banks are going to go to hell the US dollar is going to disappear the world's going to go to gets you on TV when say that yeah yeah that's all it does and it gets all the gold companies to pay you let's build a company

together for the people okay if you guys would be interested let me know in the comments okay um we're going to build a bank we're going to disrupt the banking system why not dude love it banking crypto is going to disrupt it People have lost faith and confidence in the banking system I believe they have I think most people cannot as you guys stated today can't invest in stocks without learning a whole bunch and they're going to they better learn a whole bunch they better get disciplined now do you guys have any kind of like

accountability groups or any kind of like holding people accountable and keeping helping them build their discipline like a team does we certainly Do we we talk about it all the time and we have these chats that we go back and forth with people all the time about that okay usually slapping them on the back and letting them know hey that was a great decision that was discipline don't worry about don't look at it again yeah you already sold it you sold everything you have don't look at it for a little while just getting that support

that you get from being on a team so you guys leave uh there'll be a landing page My team will put up and I'll connect you with their three by three three and three three and three I'll connect you with it and appreciate you being here today appreciate you guys giving me so much time okay appreciate you apprciate thank you you're the man it's awesome [Music] thanks