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1:01
He's earned decades of Wall Street success, a lifelong student of the market
1:06
who learned to navigate the world of finance with unshaking confidence,
1:10
an underdog who achieved the American dream. Now the Fox Business Host is sharing all his
1:16
investing wisdom with you on Charles Payne's unstoppable prosperity podcast.
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All right, folks, now my next guest says that the very case against tech makes no sense,
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right? And it can't be so, put it this way. It can't be so insignificant and that all of
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the spending is a waste, but at the same time, it's so scary that it's disrupting every business,
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right? They both can't be right. Infrastructure capital management, CIO, J-Hafford with this.
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Jay, you know, before we get into the madness and hypocrisy, just real quick, I want to
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get your thoughts because you look at the broad economy. CPI number, I know, felt like irrelevant
1:53
with the future numbers coming out, but we've been heading in the right direction.
1:58
Thanks, Charles. Well, yeah, absolutely. And it's important to note that if you real measure
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real inflation, trueflation or we published realflation, it's already below two. But the problem is
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that the two key leading indicators are inflation are oil prices and money supply.
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Money supply's down. Obviously, oil prices are huge. So the fed's going to be on hold until
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the straight of a hormone is open. Let's talk about the short answers on technology, you know,
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tech stocks, you know, for whatever reason, for the most part, have been getting a hit here a little
2:28
bit, certain parts of them. But here recently, the short interest has gone absolutely through the
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roof. I like when this happens. I, you know, I start looking at my chats because I see this,
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I'm thinking short squeezes at some point. Absolutely. And this happens when earnings season is over.
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But earnings season produces real information. You saw it from all of the infrastructure providers.
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We think that's the lowest risk area to be in because there's clearly going to be a lot of
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applications. So we know that that infrastructure is going to use. Marvell blew out their earnings,
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Oracle blew out their earnings, Broadcom blew out their earnings. So earnings is the real
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discipline. And last point that there was a rotation because the Fed was going to cut now the
3:09
feds on hold that rotation should stop and we think tech will do better. America leads the
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3:43
One tech name you just mentioned Oracle. Obviously it had gotten a hammer. Pretty good.
3:49
Having a pretty good day-to-day. I know at one point you owned it. Would you be a buyer here?
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We owned it in our hedge fund. We have a small position in PFFA, our preferred stock fund because
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they issued a big mandatory. And we liked it. We liked it going to the print. And it was super
4:03
positive because both short these disease were disproven. First of all the SaaS integrated
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providers are not being displaced are actually probably stronger. Being augmented.
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Right. Well, because you know, I don't really never understood it. We're not going to go
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right our own outlook. And these are much more complicated businesses than ours. So they
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can't get rid of Oracle. So that was ridiculous. And their cloud business is improving in the
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capex is coming down because they're getting the clients to pay for it. So both of those short
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these disease were blown up and the stock is probably a short covering rally now.
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I'll ask you about another stocker. Amazon, again, it's one of these names where
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it's just has sort of been sideways for a long time. Even while the rest of Max said
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when we're still working. This is the poster child for over rotation to other stocks.
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Walmart trades at 45 times earnings. This trades at 20. This grows twice.
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Walmart does to the peg of Walmart's four times Amazon. Huge buy and also not that risky 1.4
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beta. So if you buy it and the market gets hit because of the war go down a little but not a lot.
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So we think it's a good entry point for Amazon. And obviously that means you love the risk of
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work. Just 15 seconds to go. Overall, what are you telling clients right now, you know, with this
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market? We're remaining bullish. We think the war has to end. Everybody in the world except
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Iran wants the straight up or moves to open. It will open. We don't know exactly when within a month
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maybe two weeks. So stay the course and be bullish. They wanted to open to it at some point.
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That's the only source of revenue. The only source. Okay, thanks a lot, my friend. Thanks,
5:38
Trouble. You've been listening to the Charles Payne's Unstoppable Prosperity podcast.
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Make sure you subscribe to this series and don't forget to rate and review. And keep listening
5:48
so I can help put you on the path to unstoppable prosperity now.