Join CNBCâs Josh Brown on todayâs episode as he arms you with thoughtful investment discussions tailored for the era of tech growth and inflation. Discover why âbuying the robotsâ is a must, find out why everyone having money is actually a big fat negative for the economy, and more. Itâs a wide-ranging conversation with one of the top advisors in the USA, and weâre excited about all that Josh will share with our Stacker audience.
In our headline segment, weâll discuss the importance of understanding insurance, especially in light of Hurricane Helene. Learn how to make your donations count and why revisiting your financial plan is essential for future confidence.
Later weâll shift gears to Hollywood, where aging protagonists are thrown back into action. Jeff Bridges reunites with his past in a gripping FX series, while Gary Oldmanâs stellar performance in Apple TVâs âSlow Horsesâ takes the spotlight, though its pace might test your patience. Donât miss the brief nods to John Lithgow, Stanley Tucci, and a fleeting mention of Mel Gibson, rounding out an episode rich in actionable insights and entertainment industry intrigue.
- Introduction and Apple Music Dilemma
- Apple Maps and Pretzel Problems
- Saluting the Troops and Show Introduction
- Robots and Automation Discussion
- Hurricane Helene and Financial Lessons
- Retirement Planning Insights
- Nvidia and Technology Takeover
- Pandemicâs Impact on Inflation
- Mediaâs Role in Financial Information
- Hollywood vs. Reality: The Truth About Wall Street
- The Wolf of Wall Streetâs Influence on Modern Traders
- Josh Brownâs Perspective on Market Culture
- The Importance of Financial Designations
- Hurricane Helene: Impact and Relief Efforts
- The Real Cost of Insurance and Rebuilding
- Charitable Giving: Time, Expertise, and Goods
- Upcoming Events and Meetups
- Final Thoughts and Takeaways
Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.stackingbenjamins.com/201
Enjoy!
Monday Mentor: Downtown Josh Brown
Big thanks to Josh Brown for joining us today. To learn more about Josh, visit Downtown Josh Brown. Grab yourself a copy of the book You Werenât Supposed To See That: Secrets Every Investor Should Know.
Our Headline
- Helene left at least 128 people dead and communities âwiped off the map.â Now, survivors are struggling to get food and water (CNN)
- How to donate to Hurricane Helene victims, and one donation scam to avoid (WPCO)
Doug’s Trivia
- This type of advisor is someone who has formally shown expertise in the areas of financial planning, taxes, insurance, estate planning, and retirement saving. What is their designation?
Have a question for the show?
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Join Us Wednesday!
We’ll share which investment you should be wary of and how to navigate these investing waters.
Written by: Kevin Bailey
Miss our last show? Listen here: What Hidden Fees and Costs are Sneaking Money From Your Wallet? (SB1583)
Episode transcript:
[00:00:00] Doug: Do you guys hear this?[00:00:03] OG: Yes.
[00:00:04] Doug: Yeah. John Phillips Sousa marching down Main Street, Doug. Maybe you
[00:00:07] OG: can help me with this because I think you’re the only person in the world that actually uses Apple Music. This is the only thing that I have on Apple Music because I have to play it for the middle school football team.
When I run the scoreboard. It’s the fight song for the middle school. Go Northwestern, by the way. Go. But when I, every time I turn my phone on, it has it at the bottom and I’m a Spotify guy and I do not want the Spotify people to think I’m cheating on them with Apple Music. So how do I make, yeah, this automatic Apple music thing that wants to play go you Northwestern into every single time that I grab my phone, I actually
But I’m not gonna tell you.
[00:00:48] Doug: great. I’ve got a similar problem. Subscribe for more.
[00:00:53] Joe: Well, I can
[00:00:53] OG: subscribe for more. Okay.
[00:00:54] Joe: Doug’s tech help. All right, then I’ve got a similar problem. I’ve, I’ve got Apple Maps and you know how it automatically connects you to home or wherever. I have no idea why this happens, but when I plug in my phone to my car, it automatically asks me if I wanna go to Annie Ann’s pretzels near Lawson Volcano National Park.
[00:01:18] OG: Yes, I do. As a matter of fact, how did you know?
[00:01:22] Joe: Like 1300 miles from me? I’ve been to Lawson Volcano National Park one time.
[00:01:29] OG: How are the pretzels? A long
[00:01:30] Joe: time ago. Why the hell does it all of a sudden decide, I want to go to Annie Ann’s over there. I have no idea.
[00:01:35] OG: Gotta love Apple. That’s awesome. Between that and my favorite feature of, you’re on a phone call on your AirPods, I’m guessing you wanna listen to music on your computer right now, just where it disconnects.
Let’s do a podcast. What do you guys think about that? If
[00:01:53] OG: yes.
[00:01:54] Joe: So that we can deal with all these first world problems.
[00:01:57] OG: There’s, uh, there’s a lot of first world problems going on here and there’s a lot of other world problems going on, sadly, but, uh, thankfully.
The men and women of, uh, the US and other countries are, uh, keeping us safe.
[00:02:20] Doug: Thanks everybody. My God, Dukes are going to corner the entire frozen orange juice market
live from Joe’s mom’s basement. It’s the Stacking Benjamin Show.
I am Joe’s mobs neighbor. Doug and robots are coming for your jobs. Woohoo. Wait. Oh, are they? God, I hope so. Imagine just pressing a button to start this intro. We’re gonna talk robots, automation, inflation, pump, and dump trading schemes and more with the man you hear on CNBC’s halftime report. Downtown Josh Brown in our headlines, you’ve seen the destruction from Helene and maybe you or your neighbors felt it.
What money lessons can we apply? We’ll share plus I’m brewing up an absolute gem of a trivia question. Oh God no. Oh, it’s happening. And now two guys who are like a hurricane in this basement. It’s Joe and oh Ju ju g
told you I was brewing something. Sounds like Doug’s gonna be a hurricane somewhere else. Hey everybody, welcome to the Stake Regular podcast. I’m
[00:04:05] Doug: Calls agent,
[00:04:08] Joe: horrible career mistake. Horrible. From CNBC to what? Mom’s basement. Yeah. Across the card table from me though. Today, like every Monday in the basement. Mr. OGs here. How are you man?
[00:04:18] OG: I’m just living the dream man. One day at a time with Josh Brown here.
[00:04:23] Joe: How about that? I mean, he’s got a great
[00:04:24] OG: first
[00:04:24] Joe: name.
He, he does, and he might have a take or two as well. Josh Brown, who cool dude generally has something to say. He has some
[00:04:32] Joe: He’s, uh, coming down to the basement. He’s today’s mentor. If you don’t know Josh Brown, he’s a guy who had the, has, has had the Reformed broker blog for a number of years, I think the Reformed broker blog, probably older than this podcast, I would imagine.
Yeah. Josh also is, uh, one of the principals at, uh, Ritz Ho’s Wealth Management, one of the premier money management financial firms in the nation. Also the creator of the Future Proof Advisory Conference that happens every year. Guy might have one or two things going on, og
[00:05:13] Joe: and you know, what, to his big shining defining moment gonna be coming down the, I mean, obviously
[00:05:18] OG: pinnacle of his career
[00:05:20] Joe: to share his knowledge with you.
We’re also gonna do a headline about that, man, the, the southeast OG things bad a couple weeks ago with Hurricane Helene and still not cleaned up. Is imagine going on vacation in
What’s that? I’m on the top of a mountain. What has that got to do with me? Right. Oh man.
[00:06:03] OG: think about, you know, think about when it rains an inch in your house or in your town.
Mm-Hmm. Think about like how many Mm-Hmm. Square miles. That is an inch of water over that much. And now make that a foot and a half of water over, you know, a half a state. I mean, good night. Tragic. So
Pretended it was the Mm-Hmm. Adirondacks. Is how you pronounce that. Arye.
[00:06:40] OG: about. There we go. In North
[00:06:41] Doug: Carolina. Yeah, those one things. The Ariana Grande. Yes,
[00:06:45] OG: that’s exactly what it is. Talk about Dirty Dancing
[00:06:50] Joe: and Chimney Rock is there.
And it’s just this beautiful, beautiful vacation area. And man, the before and after of this vacation area. I mean, it’s just, it’s, it is horrible. So if you’re affected by that, we’re gonna talk about ways that you can help. And we’re also gonna talk about if you were lucky enough, knock on wood, simulated wood here on the card table to not be affected by it.
What are some of the checkpoints that we can learn? We’re gonna cover all that today too, but first we’ve got a couple of sponsors that make this show go so that it’s free for you every Monday, Wednesday, Friday. Let’s hear from a couple of these sponsors. And then we’re gonna get moving with downtown Josh Brown from CBC’s Halftime report.
So proud of you, Joe. You
[00:07:48] Joe: Yeah, no. It’s weird how once every seven tries I will, I will figure that out Downtown.
Josh Brown’s here. Let’s, uh, say hello to the man. The myth, the legend. Josh Brown.
I’m super happy. He’s here at Mom’s cart table downtown. Josh Brown is here. How are you, man?
[00:08:16] Joe: Well, I’m super happy that you’re here with us. I’ve, I’ve wanted to talk to you. Of course. We’ve talked to. Our mutual friend Nick Majuli several times we talked to, oh yeah.
I feel like I’ve been talking all the way around Josh Brown and we finally got him. But I wanna ask you this, because I had to laugh out loud when I started this project and I read in the open, and lemme make sure I get this right, you, you write that maybe the amount you talk is working against your self-interest.
Am I
[00:08:43] Joe: Are you trying to be like the guy? Remember that old guy on Fox that wore the mask and showed all the magic tricks that the magicians don’t want him to sell? Is Josh Brown trying to be that guy?
[00:08:53] Josh Brown: Oh, what was his name? The something magician?
[00:08:55] Joe: Yeah, the I don’t,
[00:08:58] Josh Brown: something.
Yeah,
[00:08:59] Josh Brown: No, no, no. I think the reality is the more success that you have in this or any business, the more you have to lose by continuing to be a firebrand and continuing to throw bombs. And like at a certain point it’s more harm than good, and maybe it’s time to shut up and just enjoy what you’ve built.
The problem is I don’t know how to shut up and, uh, I mean, I’m a blogger and a podcaster. Is there a worst combination? So I was sort of joking around, but like this, you know, there’s always a kernel of truth, even when people are joking. But in the end, what I’ve been able to do is not alienate everyone working in the industry.
Also say things that were biting satire of, you know, myself and everyone else’s role in this game. I think the audience gets it. I think my fellow professionals, they understand there’s a tongue in cheek kind of way about what I’m writing and, uh, we all, we all live on, in the end, none of it matters,
People get where they’re going, doing what you’ve done about, talking about being out there, about being open, about telling the blunt truth no matter. Yeah. Who cares. And then you see ’em get to a certain point, I don’t know if it’s money or fame or what it is, and they flip and they become really, really conservative.
I feel like you gotta fight that all the time.
Maybe it makes me feel better on Twitter for five minutes. But what I’m really doing is jeopardizing the livelihoods and the careers of the people who rely on me. And it’s not just people working in my firm. I’m involved in like 10 different businesses to some extent as an investor, as an advisor, as a joint venture partner.
So that’s a really real thing. I remember listening to John Bon Jovi talk about why they’re touring every year, and the person’s like, surely you don’t need the money. He’s like, you don’t understand. When we don’t tour, there’s like 500 families that don’t eat.
[00:11:10] Josh Brown: Like we have a whole road crew and we have drivers and guitar techs and security people and publicists and like we’re an enterprise.
So if I decide to take three years off, what do I tell these people? There’s this idea that the more successful you get, the less risk you have to say what’s on your mind. It isn’t that way. I have found that it’s the opposite. It’s the opposite.
Certainly in financial media. I feel like we’ve been talking about retirement planning forever. I got in the financial planning game in 1993, but you are right in chapter one, retirement planning. Josh really ain’t that old like it. This is really a new construction. We’re kind of finding our way in the dark.
Talk to me about retirement planning and kind of the short life of, of this whole thing that we do.
But that phenomenon is maybe 25 years old. Most people didn’t work at companies until 10 years ago where that was even on the menu of options. So we kind of had like IRAs. The average person on the street doesn’t know the rules, how they work, what are the limits, what are the contingencies, what type of ira?
No idea. Nobody teaches them that. So it’s not as though Americans have been investing for retirement since 1776. It just can sometimes feel that way for somebody that like is first encountering it. Now, the the reality is retirement planning for much of human history was you die, you’re probably a farmer or a soldier and you drop dead.
And that’s, that was your retirement. Congratulations. And then like in the 18 hundreds, there were some schemes in, in Britain and elsewhere in Europe where, uh, Scotland, notably where they try to do this kind of like pooled situation where whoever lives the longest is reaping the biggest benefit from the pool.
Like it’s literally a dead pool. Uh, that’s where the word comes from. And then you had some, some like annuities sort of things in insurance in the United States. In the old West, like the first version of retirement was like a sheriff. Who had one of his arms shot off. Well, he can’t be the sheriff anymore.
So the town would collect some money together and say, here, now you can feed your family for the rest of your life. You know? Who did the collecting? The sheriff? I was,
[00:13:39] Josh Brown: handout. This is true. And collect, the gunfighter would go knocking door to door and say, obviously, as you can see, I have one arm.
Now I’m not able to defend the settlement or, or the town. But like, Hey, I kind of gave up an arm. What do you guys wanna do for me? I can’t be a farmer. I can’t break horses in a pen. I can’t do anything. This is not that long ago. It’s like six generations ago that I’m, that I’m talking about. So for the first half of the 19 hundreds, like most people worked in agriculture, they worked on a farm, you farmed until you died.
So it’s not really until the last 50 years that there’s any sort of, you know, of course like the new deal. Okay, we’re gonna take care of the widows and orphans. We’re gonna take care of people who live to the abnormally old age of 60, right? Uh, which almost no one did. Then we have like this concept of corporate retirement, which is you get a gold watch and then you drop dead five years later, right?
Like you retired 65 and you’re dead by 70. Now if you look at the actuarial tables, if you make it to, if you make it to 70, you have like a 25% chance of making it to 90. And that number is rising. And amongst affluent people, life expectancy much higher because they take that better care of themselves and they have better doctors and better healthcare.
So retirement is like half of people’s lives almost at this point, amongst affluent and, and wealthy people. It could be like half your life. And so it’s a huge, huge industry getting larger, gaining in success. And there’s not a lot of history. I. There’s not a lot of sociology around the history of retirement ’cause there’s not a lot of history.
So we, there’s a lot that we still don’t know. I think that’s what makes it fascinating.
Behavioral becomes part of the game. And speaking of that, you go on to write early on that a lot of us have, have learned not to sell, to hold our money. You write though that we, we invest in fear and we’re not afraid of political outburst on Twitter from, you know, the politicians that we see all the time or, or from the owner of, of X or Twitter himself upsetting the stock market.
You say that we’re worried about something much, much deeper. What is it that the average investor really is worried about when it comes to their money?
It’s natural, it should be, but I think that that fear has become amplified in the last 20 years and maybe really amplified in the last two years because of how quickly technology is changing the, the very nature of who’s worth what and who does what in society and where are the profits and who gets them, and does the practitioner of a service maintain most of their money, or is there a large and growing portion that has to be handed over to Apple and meta and, and alphabet?
You know, this is like, uh, shouldn’t come as a shock. This is throughout history, humans have been afraid of technological development and industrialization. And this is always, this is like an ancient paranoia. The story of, uh, John Henry takes place in the 18 hundreds, and so it’s not. It’s not a new idea, but I think from a stock market investing prism, I think you can see the fervor with which people are invested in technology companies.
You can see a little bit of paranoia in there, and I wrote a chapter called Just Own the Damn Robots. And it’s a classic, if you can’t beat ’em, join ’em kind of idea. It’s like, look, you got five companies each worth a trillion dollars or more. And every day the people who work there wake up, go to work and try to figure out a way to make you cost companies less or, or make you completely obsolete.
And that’s just the reality in which that we live. And I think we invest to some extent with that in the back of our minds.
Show notes having AI do a rough draft of, of a lot of our, uh, show notes just for this show I’ve seen in the past nine months, it’s changed night and day. What blew me away when I, when I started reading your words was that I didn’t realize that you originally wrote this in 2017, right? Like this is 2017 and you’re like, own the robots.
And I’m looking at just the last nine months and hell
So there was this moment, I think it was in 2016. I’ll never forget it, I just don’t remember the exact time I was sitting on the desk for the five o’clock fast money taping and Amazon came out with an earnings report where the stock shot up like 15% overnight. You know, we had to like explain to the viewer what had just happened.
And what had just happened, Joe, was that Amazon reported a surprise profit. Nobody, nobody was, expect them to earn any money. And it was like this, it was like a thunderbolt from Zeus. It was the starting gun. And then from that moment on, anything involved with cloud, which is of course Amazon, Microsoft, alphabet, goodbye.
And at the same time on a parallel track, you’ve got Apple becoming the largest company in the world and Microsoft becoming number two or vice versa. I forget who got there first. It just felt very zeitgeisty to try to explain like, what is this moment about? And it was really in 2017. It was really about like, oh my God, you don’t know where this is going, but you better have some money invested because these companies are on the verge of world domination.
And of course that’s exactly how it played out. You know, of course Nvidia wasn’t part of the conversation then open ai. None of these things, you know, that didn’t exist. But the general idea that I wrote about now seven years ago, is even more true today.
’cause it felt like you wrote it 20 minutes ago. Right?
[00:20:39] Joe: Yeah. It totally must have been. I also wonder is a guy that wrote a book myself a couple years ago, why did you start here? Why do you start with the fear of robots and own the robots? Why’d you decide that’s gonna be chapter one?
[00:20:51] Josh Brown: I wanted to do something that at first was very current, and so my revisiting of that, I got to tell the story of Nvidia. Because we weren’t talking about Nvidia in 2017. I was a shareholder in it, but I didn’t think it would be as big of a deal as it turned out to be. So I wanted to do something that was like very now.
And what’s very now is Nvidia becoming the dominant growth stock of the era. Uh, one of the largest companies in the world. And I, I don’t, most people don’t even realize this. It’s up another 150% year to date. Crazy. Forget about the fact that it’s up 10000% in the last 10 years. It’s up another 150% this year.
It’s trip. It’s like, it’s like almost tripled this year. So I wanted to start the book with like a punch in the face. Like, do you even understand the extent to which this technology takeover is happening? I didn’t wanna do a linear thing, like here’s a history of the markets over the last 15 years. I wanted to take all of these episodes and the lessons I took from them and some of the secrets that I learned along the way, some of the backstage stuff that I had witnessed and I wanted to fill a book with it, but I didn’t want to do it.
Like, and then it was April and blah blah. You know, I want, I wanted it to be punchy and, and jump around and, and keep you guessing about what was coming next.
We’re gonna talk about Wolf of Wall Street here in just a second. ’cause I thought that was pretty damn funny. But let’s pause for a second, Josh, on Nvidia, because I was at this dinner party about six weeks ago, I’m sitting next to a guy who spent a lot of his, uh, career before he got into managing a big health conglomerate.
He had been a stockbroker way back when with Dean Whitter. And so he knows a lot about stocks. He, he follows the markets and he said, Joe, what do you think about Nvidia? I’m like, I don’t know what I think. What do you think? And Tom is his name. Tom said, you know, I think Nvidia may have run its course because people that know nothing about nothing are asking me on a daily basis, should I buy Nvidia stock?
And historically, Josh, during my career, when, you know, people say, Hey, should I be investing in gold right now? Should I be investing in real estate? Right? 2007, everybody’s like, Hey, should I be investing in real estate? And at that time, the real estate market collapsed. What do, what do you think about Nvidia with, with these valuations right now?
For me, it’s more like expectations. Do you really think there’s not gonna be a hiccup in this AI story? Like do you really think every quarter from now on they’re gonna grow 50, 60, 80, a hundred percent year over year? Of course that’s not gonna happen. So I think there will be disappointments along the way and there’ll be opportunities to buy the stock just for the sake of the listener that’s not paying as close attention as you and I are.
[00:23:54] Josh Brown: Nvidia was in a 30% drawdown this year from, its all time high. It’s in a 30% drawdown, it’s a big fed number in May. It’s not like it’s been easy, and I’ve been in the stock since 2015. I’ve gotten cut in half, multiple times. I’ve been down 30% multiple times. So it’s not that it’s so simple like, oh, everyone’s talking about Nvidia, therefore it’s over.
Everyone was talking about Apple in 2013. Was that the end, right? Like everyone was talking about Apple? And then Steve Jobs died in 2011. Was that the end or did Tim Cook add two and a half trillion dollars in market cap post the death of Steve Jobs. So these things aren’t so simple. Everyone was talking about Bitcoin in 2017.
It topped at, uh, 17,000. Was that the end temporarily? It’s at 65,000 now. So I try not to make investment judgements based on like, oh, you should have heard what this cab driver said to me. I mean, it’s, it, it’s fun and maybe it’s anecdotally, it’s like a signpost along the way, but like the, there are people in real life going on Twitter and talking about hemline and indicators and magazine cover indicators.
What are you an idiot? Like are you, are you a complete moron that like you’re, let me get this straight. You, you call yourself a professional and you are mocking the cover of Baron’s ’cause there’s a bull on it. Are you trying to say that’s not part of your analysis? No. Are you trying to say that’s not your filter system?
Lemme tell you a fun story. I did a TV segment for CNBC. In 2013, we were in hysterics over the cover of Fortune Magazine, if anybody knows what that is anymore. Fortune Magazine did the first unicorn cover. They did a story and the story was like, can you believe it? There are 30 venture backed, privately held companies that haven’t even gone public yet that are valued at a billion dollars or more.
And everybody would, it’s the.com bubble. Like, ’cause that’s how facile everyone is. Like, this looks like that. Oh, you learn that from Sesame Street. Like if that was your cell signal in 2013, think of what you missed. And by the way, I think there are 200 unicorns right now. Right? Right. So if you thought that was the end of something, because it was on the cover of a magazine, you maybe should hire a professional to manage your money and and never speak again.
And a lot of people, serious people were like waving that around. This is why I’m bearish. Literally 2013 was the first all time high for the stock market since 2007. So the stock market had a U curve from oh seven, the crash, and then it took all that time to get back to that level. And then you had people who wanted to call the next.com crash or whatever, right?
’cause of a magazine cover, right? You’re not a professional, you’re, you are a content creator. Stay on Twitter, leave the money alone. Leave that to somebody else.
[00:27:01] Josh Brown: So we never had inflation in my lifetime up until like serious inflation.
There was this one moment in 2008 where crude oil prices went to 200 and iron ore prices were going nuts. But I. That was almost an echo of the international building boom that had already collapsed and it didn’t last very long. But what you learn from history about inflation is how destabilizing it is, not just for the stock market, which of course it, it’s very, but for an economy, for a political system, it’s like, it’s like the most destructive force.
When people can’t rely on the continuity of what it costs to live, everything comes grinding to a halt. It’s much worse than disinflation, which is what we had been suffering from the GFC until, uh, the pandemic. So the chapter that I wrote was called, you weren’t supposed to see that. And we basically unwittingly all became the subject in a once in a lifetime, I hope, experiment where the question is what happens if we voluntarily shut down the entire economy except for essential services.
We force everyone to live and work from home. We make it so nobody misses a payment on a bill. We fill everyone’s bank account with cash and we give people so much free time that they’re able to do literally whatever they want. That’s the experiment. I was also
They actually like, you know, I can be kind of cynical about this and go, oh, look at how we’re blowing this. Our credit card debts higher than ever. Card debt, everybody paying off their debt, getting their crap in order. The house was getting cleaned up. But anyway, I’m sorry,
Like they’re good. Like they’re not worried about their bills. They have more money they’ve ever had before. Liquid cash, no strings attached. Not a loan. We just gave it out. Even the loans, we said, it’s not really a loan. Don’t worry about it. I think 11 million PPP loans went to businesses and 10 and a half million were not paid back.
All the programs for restaurants, for hospitals, for municipalities, for state government, local government schools, it was just endless. In addition to the Fed taking rates to zero and allowing anyone with debt to refinance, it was just this incredible once in a lifetime moment, and for the first time all at once, everybody had the freedom to change careers, to pay off all their bills, to do nice things for their kids to buy whatever high price ticket item they’ve ever wanted, whether it’s an RV or, or a boat.
Just everybody all at once was just maximum freedom and financial, like financial freedom and physical freedom, and it broke the economy in half. We literally couldn’t survive it. It destroyed everything and we end up with 9% inflation. Just a, a year or two later, we end up with frozen supply chains. We end up with hotels that can’t clean the rooms anymore because they don’t have any maids.
We end up with fast food franchisers, so desperate to find employees. They end up flipping the burgers themselves. Life as we know it completely breaks down, and the thing that you weren’t supposed to see is, this is why the American Dream doesn’t work if we all attain it simultaneously. The only way it works is if not everybody is good.
We need a portion of the society at all times to still be striving to get to financial independence. We can’t all have it at once. We need people that are willing to work, people that are willing to be employees and not entrepreneurs. This is necessary for this thing that we have to function and we never would’ve found out.
That’s the truth about the American dream. We, you know, this idea like everybody can have, Nope. A lot of people can have it and some people have to wait their turn or unfortunately never get it. And that’s what the pandemic, that’s the real takeaway from the pandemic. So now fast forward to now, now the office buildings in Manhattan are filled up again because Google and JP Morgan and Goldman Sachs, they’re saying get back here from nine to five Monday through Friday.
No offense, we do own you. We own you. If you don’t like it, you can quit and somebody else will take that job. So you’re seeing like reality gradually dawn on the economy and that’s why inflation is 2.5% and not 9% because, you know, we brought gravity back to the system and we’re back in the, the normal world where, hey, not everybody is good right now.
Some people really need the money.
[00:32:04] Josh Brown: work. Yeah. We saw work. You need work, you need workers. You need people that are willing to do things for money that they wouldn’t otherwise do if they had enough money.
And that’s, it’s universal. It applies to every, every industry, every business, every region of the country. And we found that out the hard way.
There’s no way this is going to last. Certainly the workplace culture is probably changed forever, but certainly not the way we thought it was gonna be.
Like that. That was wild. I can remind you of things that were so insane. We used to go out to dinner in 2021 in New York. They had this rule where you had to walk in with a mask, but then when you sat at your table, you could take the mask off. You have a dining room full of people with no masks. But the key thing was you had to walk in wearing one.
I’m not sure medically what that meant. And then the waiter would come over, the waiters had the waiters and waitresses had to be masked, which felt really weird. Like a weird dystopian society where the diners get to be free and the people work in the restaurant are trapped behind a mask. But then the guy would be like, Colonel Rug breakfast.
Yes. What would he do? You pull the math down, you pull it down immediately lean into the table and we, and we do the special, the whole, it was insane what we put ourselves through.
The, and to your point there, that science ain’t science and
[00:33:57] Joe: not
[00:33:58] Josh Brown: working. How about the traffic on the roads Or like go to a shopping mall on a Wednesday at 10:00 AM. And it’s like completely packed. Where do these people work? Who are these people? And you know what they’re doing? They’re walking around the mall with AirPods in taking customer service calls.
It’s
[00:34:23] Josh Brown: Yeah,
[00:34:23] Joe: that’s, that’s the way it works. I got you. Just for a couple more minutes, I want to ask you a couple things because I wanna ask you some questions about media because of your role doing so much media stuff, and because I wanna end with talking about Wolf of Wall Street, which I thought was just a great chapter of your book, but media in general, how much of the stuff that you guys talk about on television do our stackers truly need to know on a daily basis if somebody isn’t really plugged in, they just wanna make sure their money goes in the right way?
What percentage of what you guys discuss is, is important?
And I think the audience, you know, people that have been around for a long time, they understand that their job as investors is not to switch their opinions every day based on the news, but I still think they want to know. Yeah. So just because somebody has an opinion, it doesn’t mean that you have to react to it.
And the reason I think that people are smart enough is ’cause I see the data, uh, Vanguard 401k data is one example. I can give you a lot of examples. You know, what they did to their asset allocation in 2020. Nothing. Literally, almost nobody did anything. No one changed anything about how they were investing.
They probably were watching the news every single day. They were probably watching CNBC when Bill Ackman came on and said, hell is coming. They were probably watching every day. People talk about. Like how horrible everything is, but they still didn’t do anything. So I think the investing public has become smarter about knowing what is something they need to react to versus like, what’s just good background, uh, information to, to have.
Most of the people who appear on TV are not pointing at the screen and saying, you get off the couch and buy Microsoft. Like, that’s not right. That’s not what they’re receiving from, you know, financial television in this day and age. So I, I think, uh, there are people that are into it and then there are people that would rather watch ESPN or, or politics.
You know, the tribe that’s really into the markets. That’s who I talk to, and that’s my tribe.
Josh, as you know, with cutting fees, firing advisors. So quote, you can retire earlier, right? I’m gonna retire earlier by firing the people around me. What do you say when you read stuff like that?
I count myself fortunate that that’s not where I am. So it’s, it’s hard for me to identify with that mentality to like deprive myself for 15 years so I don’t have to work for the next 20. I’d rather work the whole time and, and work doing things that I’m interested in doing. So that’s, that’s my mentality.
It doesn’t mean they’re wrong. Again, I’m not in their shoes, so I can’t, can’t speak to what that must be like to be standing behind a cash register all day and watching the clock. If you were in that position, I could see why you would be prioritizing frugality now to get out as soon as you can. But it’s just, it’s not, it’s not my way of life, so I, I can’t speak to it.
[00:38:20] Josh Brown: Like a week or two. Oh, was it okay. Yeah, I had to, I had to go. I had to go. Yeah. Yeah. Well, I knew, so I knew a lot of the people involved and I knew people that knew people.
And I’m from Long Island and it’s the story of Long Island, basically. The Long Island, the young man on Long Island’s mentality. Like, it’s the only place where that story could have happened. And, uh, I drive by all the locations that like, it’s, it’s like very, it hit very close to home,
Right. Just bathing in, in drugs, the big pumping up stuff going on. How much of that is Hollywood? How much of that was real back in the day? No, I can say
[00:39:10] Joe: yeah,
[00:39:11] Josh Brown: that might’ve been like adding an extra 10% on for cinematic reasons, but I don’t, I I don’t think it’s that far away.
Why’d you include Wolf of Wall
[00:39:20] Josh Brown: I thought that Wolf of Wall Street culture was really emblematic of 2021 and the mentality of the next generation of traders. That’s the movie that they, that was their formative experience. When they were teenagers, they saw the Wolf of Wall Street or subsequent, like they saw it on, on Netflix or whatever.
That’s their first impression of what it means to be in the markets. They didn’t grow up with these great eighties movies about investing in trading that you and I did. Like we grew up with Wall Street and Trading Places and other people’s money and you know, there’s this whole litany of like great movies that were about Yeah, they like this.
Was that for them? Wolf of Wall Street. So there was like this kind of like, um, Jordan Belfort worship and like, you know, I’m the Wolf And uh, you could see it. And how, look the memes alone from that movie overshadowing the memes of any other movie in 2021, it was Belfort Fever and even Jordan was back, you know, back in the mix.
He was. He was giving trading classes for Bitcoin. I mean, it just, it was all, it was crazy circus. If that would’ve, if that would’ve gone on longer, he would’ve had a spac. He still owes restitution to investors. The trick is he does owe his public speaking for money in Australia, so he like, keeps the money in the bank there so he doesn’t have to pay US investors restitution.
But like, if, if that would’ve gone on in another year, they might have made him the chairman of the SEC. Like, I don’t even know how to describe the degree to which life is a parody, basically. Do you know the number one podcaster in America this week as the Huck Tour girl? Yes. Yes. So it’s all a joke. Yeah.
And you know, you don’t wanna get like, hung up on it and get angry about it. You just like, just gotta accept everything. Everything at this point is a parody of real life. Nothing is real anymore, but like the Belfort worship. Having this army of millions of day traders involved in GameStop and doing all this dumb shit.
And they all were inspired by the ethos from the Wolf of Wall Street. And uh, you know, it sort of ran its course, but like I thought it was an important touch point in, in the recent history of the markets.
And man, you can read it in his writing, you can read it here or on the Reform Broker. Just, uh, super great to have you. Thanks so much for helping our stackers, Josh. I really appreciate you. Oh,
[00:42:07] Doug: Hey there, stackers. I’m Joe’s mom’s neighbor, Duggan. I love how Josh Brown talks. Now it’s, it’s not the northeastern accent, although I mean, right. It’s more that he says things in this really straightforward way without all the jargon. I mean, who talks and basis points or cap size, and I mean, we’re not even talking about a ship sinking.
Let’s keep this ship afloat with today’s trivia question. You tell me who I’m talking about right here. Ready? This type of advisor is someone who has formally shown expertise in the areas of financial planning, taxes, insurance, sorry, OG insurance, estate planning and retirement savings. What is the designation that I’m talking about?
I’ll be right back with the answer right after I find out what designations there are for the best podcast announcers in the field.
Hey there, stackers. I’m disc announcer guy and man who deserves a reward just because I have to deal with these two boxes of rocks. Joe’s mom’s neighbor, Doug. Finance really isn’t hard, but it feels difficult because we use so many obscure terms. I mean, seriously, who came up with the term 401k anyways?
Sounds like a race that’s way longer than a 5K, doesn’t it? It’s a retirement plan. Wait, did I just say don’t it? I think I just said don’t it do be it. Live it. Wow. Anyways, it’s a retirement plan. I say we retire half of this jargon. So today, let’s share a definition and you tell me what type of advisor I’m talking about.
Ready? This designation shows that a planner has been formerly recognized. I did it again formerly used to be recognized. Wow.
You do deserve an
There you go. There it is. As showing expertise in the areas of financial planning, taxes, insurance, estate planning, and retirement savings. Got it. Of course you do, because it’s the biggest designation in financial planning. Certified financial planner. AKA. The CFP. And now here to share today’s headline.
It’s our very own CFP OG and, and that other guy, Joe.
[00:44:43] Doug: I appreciate it. You might have heard of him. Let’s get into today’s headline.
[00:44:47] headlines: Hello Darlings. And now it’s time for your favorite part of the show. Our Stacking Benjamins headlines,
[00:44:54] Joe: hurricane Helene that we talked about in the open, not um.
Not, not a small thing, OG and affected tons of people. In fact, uh, just in our Stacking Benjamins family, our amazing writer of the 2 0 1. Yeah. Uh, Kevin Bailey. Luckily he and his family are safe, but, uh, Kevin, we didn’t hear from him for two days, and we were pretty worried about him. We finally found out that he was just without first world stuff, without power, without internet.
Mm-hmm. But he was safe. He was fine. That was great. Also, Hannah Cole, who was a guest of ours over the summer, she is an artist and also owns an an an artistry studio, and she also runs, uh, sunlight Tax. She helps creative and artistic people deal with their tax burden. og her, her studio’s completely gone.
Hmm. It is gone. And all of her are, all of her work. Just absolutely gone. I wanna start, before we talk about the money here, a, a, a great piece from Cincinnati’s WCPO, how to donate to Hurricane Helene victims and one donation scam to avoid. John Madis, uh, wrote this piece. John has a bunch of links and we’ll link to this.
You can visit the American Red Cross website and donate by entering a credit card number. You can also simply text the word Helene to 9 0 9 9 9 or text Red Cross to 9 0 9 9 9. You’ll automatically donate 10 bucks with a donation showing up on your next month’s cell phone bill. Other groups, North Carolina Relief Fund, United Way, salvation Army Catholic Charities, but they say og, and this is really our job here at Stacking Benjamins shine a light on this.
Beware fake appeals for money. It’s, it’s just horrible that there’s people out there taking advantage of this stuff. In the aftermath of other recent storms, they write the FBI has seen a surge in phishing scams that appear to come from organizations like the Red Cross. Many of these requests use a misspelled Red Cross email address such as Red Cross with one s, and we’ll send you a private PayPal, Zelle, or Venmo request.
Finally, GoFundMe’s already lighting up with crowdsourcing requests for individual victims, but make sure it’s a verified GoFundMe request. GoFundMe verifies them. Make sure it’s that before you give to those. Even then, be careful if you don’t know who’s asking for a donation. It’s always, always og. They come outta the woodwork when things like this happen.
But people who are affected there, they, they don’t want $10 and they don’t need $10. They need tissue paper or baby wipes or cases of water or batteries. If you wanna have an impact. And it’s an impact right now, having the ability to provide a good, you know, for example, there’s a group in Texas affiliated with a church, but they are kind of nationally known for packing up trailers full of stuff and they’ll just trailer over to wherever the thing is and go, Hey, we’ve got, you know, a whole trailer full of toilet paper, a whole trailer full of cases of water, a whole tra, you know what I mean?
And they set up in a community and, and hand those things out if you wanna make an impact right now. I think aligning with an organization that’s doing that sort of stuff right now is, especially in the immediate aftermath of any sort of, I. Emergency is gonna have a bigger impact to the end user than $10 to United Way.
Now, saying that, that’s not gonna impact it, but if you’re gonna give money in the future, or if you’re gonna give money to a big organization, you, you can hold off a little bit to make sure that it’s legitimate or make sure that the money’s going to the places you want it to. You don’t have to do that right this minute, although there’s some downside to waiting, which is you forget about it and you’re like, uh, I’m sure they’re fine.
But if you’re thinking, Hey, I need to make an impact right now, I bet that there’s a, an organization in your community or an adjacent community to where the emergency’s happening that is like, we are getting generators. We are bo, you know, we are bringing batteries, we are bringing water, and that has a much bigger impact to, to the affected folks than 20 bucks to United Way, which is also good, by the way.
But I’m saying like, if you’re sure, if you’re thinking about like, how do I, how do I do something right now, that’s probably a bigger, bigger way to affect it, I think.
Because to your point, a hundred dollars could help. But if you are great at X, Y, Z thing, that can help a family. Yeah. And you know, all the shortcuts there. I mean,
To your point, that’s an expertise that you can provide that doesn’t, I mean, obviously it costs money to put gas in your plane. Sure. But you know what I mean? It’s like that has a direct impact. Immediately to a community
You know? Yeah. I’m, I’m
’cause that’s my, I have a big motor home, so I have the expertise to be able to, to haul this thing over mountains and whatnot. Or if you have the ability to help, that’s not necessarily a hundred bucks. That’s gonna have a bigger impact immediately.
One of the two, however you want to take this. You know, a lot of folks listening are probably thinking, man, my financial plan is so tight right now. I don’t know if I can afford to donate. Like, how do, how do we fit that into our, our budget, the donation aspect when these things crop up? You know, we can’t predict when they’re coming.
How do we figure out how to even have the funds to do it? I think there’s two things here, Doug.
I get it back. And especially when I think that I can’t, right? If I think that I can’t afford to, and I do it anyway, I find that I get it back. I have no idea how that works. I mean, that is just some mystical stuff. But it does work. And then the second piece is, I think what we were talking about earlier, which is if you don’t think you can donate money, time, expertise, uh, some skill that you have.
Or even goods to OGs point earlier, if there’s goods that you have in your house that you’re not using right now, that can be loaded up on a truck to go somewhere. So I think we have to widen our definition of what giving really means.
You just say, it just comes back to you. That’s amazing. Yeah.
[00:52:51] Doug: I
[00:52:51] Joe: hope there’s some porterhouse steaks on that truck chain of links we had.
Probably doesn’t work that way. Hey, hey, let’s pivot though to the other half of this, which is I. Learning from this situation. There’s obviously, whenever this happens, og there are people that get caught with the wrong insurances or, you know, they’re gonna risk it and not have any insurances. And I know that, um, there’s never a good time to look at your risk management plan, but I think this is just another reminder that we need to be vigilant on this, on this all the time.
When it comes to your homeowner’s insurance, when it comes to your renter’s insurance, what are some of those things we should be looking for to make sure we have a good policy and not just what most people do, which is we’re we’re looking low cost provider, right? Yeah. What’s the cheapest thing I can get?
And sadly, some people are gonna find out that cheapest does not equal what you hope is gonna happen when disaster strikes.
And I’m talking about, you know, the value, what you’re insuring it for. Maybe it doesn’t have replacement cost, it’s residual cost. So you say, well I had a TV in my house and I go, yeah, I was 10 years old, so it’s worth like eight bucks. You know, that doesn’t put a new TV in your house that doesn’t put new clothes in your house.
If they’re like, well you had, you know, 10 pairs of sweatpants, you know, but they were all 10 years old, so, you know, here’s a dollar 50 type thing. Um, big differences there. And I think the biggest one out of all of that, and, and it was really kind of eye-opening for me ’cause we went through a big insurance audit several years ago.
The agent was like, well if your house gets washed away, you, you live downstream of a big dam. Imagine there’s a big failure and it just right off the foundation, all there’s left is a concrete slab.
Mm-hmm.
No. How much does it cost to rebuild your house? Like there are new builds going on in your neighborhood. What are they going for? And I went, oh geez. Well that’s a bigger number than what I think my house is worth. And she said, well, of course it is because you have rising lumber costs, by the way. You’re gonna be competing with everybody else in your neighborhood at the same time for all that lumber.
You know, so what do you think that’s gonna do? You have people that you need to hire to do this, you know, the builders and you know, all that sort of stuff. And guess what? You’re gonna be competing with all your neighbors for those. Technical skilled people too. The reality is, is that if our house was to be destroyed, it costs way more to rebuild than it does if I’m selling it on Zillow.
And so if you look at the dollar amount that your property is insured for, contrast it to what it actually would cost to replace it. I think a lot of people be, be surprised by that. The downside, of course, is that you increase that number 30, 40, 50%. What do you think is gonna happen to your, to your premiums?
They’re obviously gonna go up a commensurate amount and it, it kind of flies in the face of everything that’s going on with insurance costs of rise, you know, everything is getting more expensive.
[00:56:18] OG: Especially in some of these hard hit states like Texas and Florida and the Gulf Coast, and how in North Carolina there’s gonna be a, a reckoning when it comes to property casualty coverage there.
I think across the board, that is the number one thing that I see is it’s not insured for the right amount, or it was insured for the right amount, but 15 years ago, and you haven’t looked at it since. Replacement versus residual coverage. Those are probably the two biggest things that will surprise people when they go, oh crap, we had this issue.
Oh, thank God I’ve got insurance. Let me fix it. And the insurance company’s like, well, it says here your policy’s for 500 K. You’re like, but it costs a million to rebuild it. I’m like,
[00:57:04] Doug: gonna say, you had said a couple of months ago on an episode, something I’d never thought of in all the years that I’ve had insurance was you signed a contract.
Like that’s, there’s, there’s no wiggle room on that. Yeah. And you just said the word too, Joe, but that’s a, I think an important way for people to think about those types of insurances. Is it, it’s a contract.
Right?
[00:57:30] Joe: Mm-Hmm. And that’s the important thing here is I think OG what you said, which is that it was right 15 years ago when I actually looked at this. Ever since then, I just send that number to other insurance agents to look at the price, to make sure the price is good.
I don’t look at the deck sheet to see what actually I’m getting. I’m just comparing price. And I think that’s a, that’s a mistake. You know, there’s another piece of this which is related to the insurance policy, but something you need to do on top of that, which I found out the hard way when we had a big insurance claim after our house was broken into.
We were very fortunate that our insurance company was very comfortable. Replacing the stuff that was stolen and working with us. They, they were wonderful. Their claims department people were, were great, but I had to know what I owned and I had to make them a list of what was stolen. And I am 99% sure that we did not get it all.
Yeah. Even though I had made videos, because I’ve been telling people to do this, I’d gone around my house and made videos of the stuff that we own. You know, it was wild. They wanted, for the TVs that they took, they took two televisions. They wanted the serial number for the television, the serial number for two reasons.
Number one, the police will take that to the pawn shop so they can catch the perpetrator. That’s number one. Number two is the serial number. Then shows them exactly what the model was and then they can get me a model. ’cause I did have replacement value coverage. Right. Today’s version of that same model.
So getting serial numbers and not just even writing it down or, or excuse me. Not just, uh, taking video, but take video of the things in your house and then number two, get serial numbers of your computers, your electronics equipment. I was very surprised. Yeah. By that. I did not do that. And it was, it was a pain.
Yeah.
[00:59:32] Joe: Yes. And saying over and over. And it’s very expensive. It’s very expensive.
[00:59:35] OG: It’s very, this is state of the art. You’ll notice my top of the line road caster, my top of the line MacBook, my top of the line Vizio TV from Walmart.
[00:59:46] Joe: I know you can’t tell because it looks like it’s red, but that’s actually gold plating
[00:59:50] Doug: on my microphone. Salesperson at Best Buy said it’s the best one available. Yes, by far. In fact, they said it’s so
[00:59:55] Joe: good they have the same one at their house. That’s right. I always love it when people, does that happen anymore where the, the person selling you electronics?
Like, I’ve got one just like it. I
And I said, for what? And she’s like, because this is, you gotta make sure you’re over 17. I was like. Are you over 17? She’s like, yeah. And I said, do you think I’m older than you? And she goes, oh God yes. And I was like, so, oh God, yes. You’re ancient if if A is B and B is CI think A equals C. Right?
It might be a little shock to your system. That’s why she’s,
Did he say what? I think he said, I think he did. I gotta go wash now. I’m married. Young lady.
Said back off. Best Buy employee. You in that sexy blue shirt.
[01:01:21] Joe: Yeah. Or just make sure that I’m, I’m old enough. Please to buy
[01:01:24] Doug: the video game. Use your magic segue skill to get us out of this.
[01:01:28] Joe: Yeah, we gotta do something You, you know what we’ll do. We will link to this in our amazing newsletter, the 2 0 1 stacky Benjamins dot com slash 2 0 1. Our incredible writer, uh, Kevin Bailey.
[01:01:39] OG: Hi and Dry. Kevin Bailey.
[01:01:42] Joe: Kevin Bailey, who thank goodness he and his family are safe. Kevin writes this amazing newsletter.
The 2 0 1 comes out the day after these topics and we dive more into them in depth, which is why we call it the two oh one, one oh one here on the show, 2 0 1 there. But if you’re not here, by the way, to just talk about insurances or to hear Josh Brown talk about robots or why everybody in the world can’t have everything that they want.
Interesting topic around inflation and the pandemic there with Josh today. If you’re here because you need a better financial plan, OG and his team are taking clients. So at stack, your Benjamins dot com slash og, that’s the place to go to get on their calendar to begin making bigger changes in your life than just, um, just to, you know.
Making a video of your, of your belongings or whatever, pick a little thing that you might do financially. All right. That is, uh, just about it for today. Thanks to everybody who hung out with me last week in Cleveland. I just found out that OG on December 12th details to come. I will be in New York City and we’re gonna going to be doing a joint meetup with, uh, Paula Pant at Afford Anything and Doc G at Earn and Invest.
That’s gonna be on December 12th. We’re trying to convince OG to come, maybe Doug could come.
[01:03:09] Joe: Also, uh, November 7th, I will be in, uh, Las Vegas. We’re gonna do a meetup in, uh, Las Vegas. I’ll be there doing some interviews with some guests that we’ll talk about later, but I will be there.
So let’s, uh, meet up in Vegas. Last time I was in Vegas, it was the end of my book tour and uh, holy cow. Does Vegas smell like pot? Just you walk down the strip, it just wreaks of weed. Is it worse than Chicago? Have
[01:03:35] Joe: I have not been to down downtown Chicago’s all just weed. It is, it’s
[01:03:39] Doug: just dank all day, every day.
[01:03:42] Joe: Yeah. No wonder you always come back from Chicago in like a good, relaxed mood. So
[01:03:46] Doug: just
[01:03:47] Joe: chill.
[01:03:48] Doug: Yeah.
[01:03:49] Joe: All right. That’s gonna do it for today. Doug, finish this thing off, man. Lots, lots of takeaways, but what are our top three?
[01:03:58] Doug: Well, Joe, here’s what’s stacked up on our to-do list for today. First, take some advice from Josh Brown.
Capitalism is a zero sum game. Get started on your plan today because you’re going to have to work hard to make your plan come to life. Second, take some advice from our headline. If you weren’t affected by Hurricane Helene, use this as a reminder to buy the right homeowners, renters, disability, and life insurance coverages.
And don’t forget to give to organizations helping your fellow man, remember, that could be you struggling out there right now. But the big lesson I thought we couldn’t learn anything from CNBC, but I mean, Josh Brown totally brought it today. So now let me see. Uh, I, I’ve learned a bunch from Josh and I learned how to say, sell, sell, sell from Kramer.
I mean, wow. Who saw that coming?
Thanks to Josh Brown for joining us today. His new book you weren’t supposed to see that. Secrets Every Investor Should Know is Out Tomorrow. It’s endorsed by not just Joe and og, but by Morgan Hausel and Scott Galloway. We’ll also include links in our show notes at Stacking Benjamins dot com. This show is the Property of SB podcasts LLC, copyright 2024, and is created by Joe Saul-Sehy Joe gets help from a few of our neighborhood friends.
You’ll find out about our awesome team at Stacking Benjamins dot com, along with the show notes and how you can find us on YouTube and all the usual social media spots. Come say hello. Oh yeah, and before I go, not only should you not take advice from these nerds, don’t take advice from people you don’t know.
This show is for entertainment purposes only. Before making any financial decisions, speak with a real financial advisor. I’m Joe’s Mom’s Neighbor, Duggan. We’ll see you next time back here at the Stacking Benjamin Show.
[01:06:56] Doug: It’s always the obnoxious movie watcher who they think they’re all like artistic and they’re like, oh, that was an excellent film.
Oh, they’re just movies, man. They’re not films. I don’t know. But movies make it uncomfortable. I mean, movies, well, but I
I’m just like, movie just sounds
[01:07:24] Joe: does, nobody ever really thinks they sound like that. No, it’s snobby, but they do. Speaking of that, uh, just looking at some of the reviews of Megaopolis, by the way, just that, that film, Francis Ford Coppola, it’s. A mess. Oh God. That, yeah. That’s the
[01:07:39] Doug: only headline I see is how bad it is.
[01:07:42] Joe: But I think, um, any of his epic films, you think 20 years from now people are gonna go? No. That film was misunderstood. It was great. Misunderstood.
[01:07:52] Doug: No, I possibly like, uh oh damn. I just, what was the one that I think Mel Gibson did it. Brain fart and, uh, like down in the No, no. Well, that’s the problem. Nobody ever remembers this thing.
Lethal Weapon one.
[01:08:07] Doug: in the jungle. Leave the weapon. Four. Yeah. Nobody ever talks about Lethal Weapon four anyway. All the subtext going under that film. Yeah. Yeah. Um, I don’t know. You want me to talk about stuff? I’ve watched TV shows. TV shows. That’s why they’re not films or movies.
I’ve watched the tv. TV shows, sorry. Television
[01:08:35] Doug: Uh, so I’ve watched Old Man. Slow horses. Old man. Hold on. What’s old man?
[01:08:42] Joe: I don’t know. Old man. It’s
[01:08:42] OG: og.
[01:08:43] Joe: Oh yeah, it is og.
[01:08:45] OG: Uh, so says old. You do know. So says the guys that are a different decade than me.
[01:08:50] Joe: Oh my God. But, okay. Who on this podcast is spiritually the oldest among us? With a bullet? Yeah, with a, with a bullet.
[01:09:01] Doug: It
[01:09:01] Joe: is. The youngest dude
[01:09:02] Doug: on
[01:09:02] Joe: the
[01:09:02] Doug: show
[01:09:03] Joe: by far is the oldest one. The
[01:09:04] Doug: old guys in the Muppets, like up in the up in the balcony. OG iss. The one on the left, is that Statler? Statler, yeah. You can’t spell curmudgeon without og.
See what I did right there? I just made
[01:09:30] Joe: stop, stop flexing. What’s old man? So proud of himself. Phone. I know. You want a glow In that moment for a second.
[01:09:37] OG: 15 years. He finally makes something funny. And we gotta sit and wall in it for a few minutes.
[01:09:41] Joe: Look at what I made mom. Look at what
[01:09:43] Doug: I made. I made a funny no old man is I know. It’s actually one of OGs favorites and I love it too. It’s Jeff Bridges, uh, former CIA operative in kind of the Afghanistan, kind of that part of the world from way back when.
And he tries to get out and he gets pulled back in. And now he’s an old man, but he’s an old badass man. Oh. What channels it on? What’s it on? fx. fx, which I watch on Hulu. Okay. I, I’m not, I You might be able to get FX in several. Yeah. The first season was
And then he, he finished it after his treatment for lymphoma and Covid and all this other sort of stuff. And, uh, yeah, he’s a, he’s an old man in the movie. And to or to the show and to Doug’s point, you know, he’s, he’s, he’s retired. He lives, if he lives by himself, his wife has passed away. It starts out, you can’t tell if he’s talking to himself, if he’s actually talking to people, don’t give it away.
I’m just saying. Like, it’s, he’s an old man and then all of a sudden crazy stuff happens. And, um, kind of gets, like you said, pulled back into his old, his old life. Who’s the other, uh, uh, John Lithgow is the other.
[01:10:57] Joe: Lithgo is there. John Lithgo, the other. Wow. The other,
[01:11:00] OG: uh,
[01:11:00] Joe: I’m excited about seeing John Lithgow and Stanley Tucci are in the new, uh, movie coming out soon about the Pope.
Right. The, the Pope died. That’s gonna be, I. That looks very, very
[01:11:21] Joe: Slow horses though. Slow horses on Apple tv. And what’s funny is I hadn’t even heard of this thing, and then I’m seeing media about it all over the place, and I’m like, how have I missed this?
Gary Oldman and what a great, that was
[01:11:36] Joe: didn’t like it. What a, what a great setup that it’s M five and it’s this office with all these crappy M five secret agents. You know what’s funny? You made it halfway through season one, og. I was telling Cheryl about it.
She’s like, oh yeah, I watched the first four episodes and I found it boring. Then I’m talking to Doug Doug. The first time that you watched it, how many episodes did you make it through?
What a great premise though. I mean, it’s a fantastic premise. And with Gary Oldman, how do you mess that up? Yeah. And Gary, um, Gary, I don’t know if they have messed it up. It’s just, I think you have to be in the right mood for it. There are like, uh, secret guard, constant gardener and Tinker, tinker Taylor, soldier Spa.
They’re like, slow burn. So slow, slow burn spy movies or films and you gotta like that. And there’s times when I’m in that mood, but I mean, this is three seasons of that and yeah. Gary Oldman is on his game. He is spectacular in this. But is there
Like, I don’t think I’ve ever said those words. Gary Oldman, eh, you know, he was okay. Right, right.
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