RUSH TRANSCRIPT Thank you ░░░░░░░░ that s Andrew long ░░░░░░░░ partner at meade capital ░░░░░░░░ become it up after ░░░░░░░░ briggs James demo for ░░░░░░░░ research is going to ░░░░░░░░ us Take a look ░░░░░░░░ palin tier the big ░░░░░░░░ of the p five ░░░░░░░░ this Europe over three ░░░░░░░░ percent stick around it ░░░░░░░░ coming up next For ░░░░░░░░ day bonds stocks across ░░░░░░░░ asset classes On morning ░░░░░░░░ live on the schwab ░░░░░░░░ We gave nine And ░░░░░░░░ eyes available anytime anywhere ░░░░░░░░ any device for free ░░░░░░░░ on schwab network I ░░░░░░░░ looking at some breaking ░░░░░░░░ that we got here ░░░░░░░░ get the 80 p ░░░░░░░░ coming out right now ░░░░░░░░ private payrolls up hundred ░░░░░░░░ forty six thousand at ░░░░░░░░ a near expectations of ░░░░░░░░ one hundred around two ░░░░░░░░ and fifty thousand At ░░░░░░░░ point I think if ░░░░░░░░ d take a look ░░░░░░░░ some of the preview ░░░░░░░░ numbers two hundred 30 ░░░░░░░░ thousand was previous number ░░░░░░░░ can come in inline ░░░░░░░░ reflective of a robust ░░░░░░░░ market at this point ░░░░░░░░ we re going to ░░░░░░░░ more on numbers moving ░░░░░░░░ with jobless claims tomorrow ░░░░░░░░ cuts tomorrow and then ░░░░░░░░ Friday With that November ░░░░░░░░ payrolls were expecting around ░░░░░░░░ hundred k added there ░░░░░░░░ a weaker than expected ░░░░░░░░ Number that was kind ░░░░░░░░ clouded by the Boeing ░░░░░░░░ along with the hurricanes ░░░░░░░░ the south east so ░░░░░░░░ continue to watch this ░░░░░░░░ where break down this ░░░░░░░░ p report later on ░░░░░░░░ my ski right before ░░░░░░░░ re going to our ░░░░░░░░ guest or going to ░░░░░░░░ a look at my ░░░░░░░░ of the day Max ░░░░░░░░ have made a resurgence ░░░░░░░░ we had apple hit ░░░░░░░░ all time highs Yesterday ░░░░░░░░ had a nice push ░░░░░░░░ into tech here and ░░░░░░░░ mag seven the ticker ░░░░░░░░ m a g As ░░░░░░░░ the c E t ░░░░░░░░ to take a look ░░░░░░░░ a one year One ░░░░░░░░ chart we got a ░░░░░░░░ moving average there and ░░░░░░░░ fifty day also but ░░░░░░░░ that settled at a ░░░░░░░░ record high here about ░░░░░░░░ percent of this is ░░░░░░░░ You ve got all ░░░░░░░░ other names whether it ░░░░░░░░ nvidia apple Google alphabet ░░░░░░░░ Microsoft met a platforms ░░░░░░░░ in this eat yet ░░░░░░░░ this is a great ░░░░░░░░ to track the mag ░░░░░░░░ We seen that big ░░░░░░░░ in tests or recently ░░░░░░░░ so post the election ░░░░░░░░ s also help the ░░░░░░░░ seven get back to ░░░░░░░░ all time highs Now ░░░░░░░░ still got Microsoft below ░░░░░░░░ s all time I ░░░░░░░░ a platforms Google alphabet ░░░░░░░░ below it s all ░░░░░░░░ highs here so it ░░░░░░░░ getting led by some ░░░░░░░░ the other names in ░░░░░░░░ not back to those ░░░░░░░░ time highs also but ░░░░░░░░ a whole as E ░░░░░░░░ f This is definitely ░░░░░░░░ to watch good way ░░░░░░░░ track the mag seven ░░░░░░░░ a whole Also so ░░░░░░░░ ll keep that in ░░░░░░░░ crosshairs as the NASDAQ ░░░░░░░░ hundred said lead a ░░░░░░░░ record high Also so ░░░░░░░░ s the mag seven ░░░░░░░░ t f m a ░░░░░░░░ s s ticker symbol ░░░░░░░░ now It s time ░░░░░░░░ bring in the next ░░░░░░░░ that s going to ░░░░░░░░ j James demo founder ░░░░░░░░ chief investment officer mainstreet ░░░░░░░░ walk back to the ░░░░░░░░ James good to see ░░░░░░░░ on all right So ░░░░░░░░ we get into a ░░░░░░░░ about palin teary just ░░░░░░░░ to get your take ░░░░░░░░ on the equity market ░░░░░░░░ a whole as we ░░░░░░░░ at or near all ░░░░░░░░ highs here in the ░░░░░░░░ kind of reigning supreme ░░░░░░░░ are your thoughts here ░░░░░░░░ we going to continue ░░░░░░░░ rally into the end ░░░░░░░░ the year James yeah ░░░░░░░░ think we will There ░░░░░░░░ a lot of investors ░░░░░░░░ have Lot of them ░░░░░░░░ getting out prior to ░░░░░░░░ election calm and election ░░░░░░░░ Now what they re ░░░░░░░░ is saying Oh my ░░░░░░░░ I gotta get in ░░░░░░░░ got foam oh and ░░░░░░░░ think that leads equities ░░░░░░░░ continue to go up ░░░░░░░░ the end of the ░░░░░░░░ in the Santa Claus ░░░░░░░░ So we think it ░░░░░░░░ got a lot of ░░░░░░░░ There s cash on ░░░░░░░░ sidelines that should have ░░░░░░░░ in needs to get ░░░░░░░░ by year and particularly ░░░░░░░░ it comes to the ░░░░░░░░ potential investors So we ░░░░░░░░ is power Here we ░░░░░░░░ are be led certainly ░░░░░░░░ to live by earnings ░░░░░░░░ expect the Fed much ░░░░░░░░ should buy think they ░░░░░░░░ going to cut in ░░░░░░░░ and then should be ░░░░░░░░ fuel to get us ░░░░░░░░ the end of the ░░░░░░░░ yeah When you do ░░░░░░░░ you talk about that ░░░░░░░░ I think everybody s ░░░░░░░░ waiting for you know ░░░░░░░░ pullbacks we had We ░░░░░░░░ one at the beginning ░░░░░░░░ August We had us ░░░░░░░░ scooped up at this ░░░░░░░░ there s a lot ░░░░░░░░ cash on the sidelines ░░░░░░░░ what I m reading ░░░░░░░░ know five six seven ░░░░░░░░ dollars it That s ░░░░░░░░ support here because valuations ░░░░░░░░ forward didn t pretty ░░░░░░░░ out historical basis but ░░░░░░░░ s not causing any ░░░░░░░░ at this point right ░░░░░░░░ time that valuations appear ░░░░░░░░ be too expensive the ░░░░░░░░ continue to roll upward ░░░░░░░░ of bringing peace back ░░░░░░░░ line keep in mind ░░░░░░░░ the equally weighted index ░░░░░░░░ stocks Is it 17 ░░░░░░░░ a half times earnings ░░░░░░░░ is not historically expensive ░░░░░░░░ course We can throw ░░░░░░░░ mag seven I love ░░░░░░░░ chart by the way ░░░░░░░░ do you see a ░░░░░░░░ of the index itself ░░░░░░░░ far as p E ░░░░░░░░ the average stock is ░░░░░░░░ reasonably priced Investors should ░░░░░░░░ aware of that yeah ░░░░░░░░ we ve seen that ░░░░░░░░ need out this rally ░░░░░░░░ that s probably helped ░░░░░░░░ lend more support to ░░░░░░░░ NASDAQ was underperforming now ░░░░░░░░ to all time highs ░░░░░░░░ Sector in general we ░░░░░░░░ had some broadening out ░░░░░░░░ You know some of ░░░░░░░░ names that led us ░░░░░░░░ the beginning of 20 ░░░░░░░░ four paws the rally ░░░░░░░░ at elevated levels at ░░░░░░░░ point but is that ░░░░░░░░ you like to see ░░░░░░░░ know as an investor ░░░░░░░░ maybe more considerations for ░░░░░░░░ upside gone into 20 ░░░░░░░░ Five with the with ░░░░░░░░ change in you know ░░░░░░░░ administration One is that ░░░░░░░░ phase of the transformation ░░░░░░░░ s always picks and ░░░░░░░░ That s why had ░░░░░░░░ biggest surprises of said ░░░░░░░░ in earnings for the ░░░░░░░░ in nvidia good example ░░░░░░░░ now we re moving ░░░░░░░░ the second phase in ░░░░░░░░ is going to be ░░░░░░░░ second derivative companies I ░░░░░░░░ say software is going ░░░░░░░░ be the biggest bet ░░░░░░░░ of there but certainly ░░░░░░░░ sectors other than just ░░░░░░░░ and and technology This ░░░░░░░░ is very pro growth ░░░░░░░░ you ve got that ░░░░░░░░ the technology sector and ░░░░░░░░ company we re talk ░░░░░░░░ today I understand is ░░░░░░░░ that s going to ░░░░░░░░ a big beneficiary of ░░░░░░░░ administration which is all ░░░░░░░░ defense About that yeah ░░░░░░░░ you know pelletier up ░░░░░░░░ three hundred and 10 ░░░░░░░░ So far this year ░░░░░░░░ s the big winner ░░░░░░░░ added to the some ░░░░░░░░ hundred So it s ░░░░░░░░ there but you know ░░░░░░░░ s a lot of ░░░░░░░░ in early 20 twenty ░░░░░░░░ last year about palin ░░░░░░░░ their CEO Alex Karp ░░░░░░░░ laid out his plan ░░░░░░░░ his vision Now we ░░░░░░░░ to execute on it ░░░░░░░░ Companies from a of ░░░░░░░░ angles which we should ░░░░░░░░ about today One of ░░░░░░░░ management Alex and his ░░░░░░░░ are brilliant He put ░░░░░░░░ some big big numbers ░░░░░░░░ let s say last ░░░░░░░░ and you re starting ░░░░░░░░ see that get executed ░░░░░░░░ were one of the ░░░░░░░░ and maybe best original ░░░░░░░░ in a I they ░░░░░░░░ early adopters of a ░░░░░░░░ The stock investors outlook ░░░░░░░░ forward which is why ░░░░░░░░ go up so much ░░░░░░░░ is can keep going ░░░░░░░░ a we think it ░░░░░░░░ yeah exponential games that ░░░░░░░░ ve seen you know ░░░░░░░░ just got granted the ░░░░░░░░ ramp hi authorization for ░░░░░░░░ potential contracts from the ░░░░░░░░ government They ve already ░░░░░░░░ a lot I look ░░░░░░░░ this company now is ░░░░░░░░ know they ve already ░░░░░░░░ their work on the ░░░░░░░░ side of it now ░░░░░░░░ re starting to expand ░░░░░░░░ commercial side of their ░░░░░░░░ and that s where ░░░░░░░░ look at it This ░░░░░░░░ as as a bigger ░░░░░░░░ area moving forward right ░░░░░░░░ as a company that ░░░░░░░░ enterprise is not the ░░░░░░░░ just to cover it ░░░░░░░░ is obviously a huge ░░░░░░░░ a very consistent one ░░░░░░░░ this administration but there ░░░░░░░░ be delving into the ░░░░░░░░ sector The fifty four ░░░░░░░░ of their sales came ░░░░░░░░ commercial a huge number ░░░░░░░░ and of them when ░░░░░░░░ reported So we can ░░░░░░░░ consider of industries like ░░░░░░░░ or going to be ░░░░░░░░ pelletier to look at ░░░░░░░░ tracking Take the industrial ░░░░░░░░ using pelletier to the ░░░░░░░░ for supply chain management ░░░░░░░░ many ways it s ░░░░░░░░ because they were such ░░░░░░░░ adopters of a I ░░░░░░░░ it much more significant ░░░░░░░░ the say oracle or ░░░░░░░░ for they could be ░░░░░░░░ think market saying this ░░░░░░░░ possibly competing at a ░░░░░░░░ high level with those ░░░░░░░░ which are worth way ░░░░░░░░ this with and pelletier ░░░░░░░░ so you know they ░░░░░░░░ the government contracts that ░░░░░░░░ keep on getting Actually ░░░░░░░░ to other governments across ░░░░░░░░ globe That s a ░░░░░░░░ for them but then ░░░░░░░░ you look at it ░░░░░░░░ know Trump s coming ░░░░░░░░ office Is that going ░░░░░░░░ be a benefit Damn ░░░░░░░░ know with ilan Musk ░░░░░░░░ of talk and in ░░░░░░░░ ear he s a ░░░░░░░░ a I guy is ░░░░░░░░ going to be a ░░░░░░░░ propellant you re moving ░░░░░░░░ next year Technology I ░░░░░░░░ it may play best ░░░░░░░░ pelletier because of their ░░░░░░░░ on defense intelligence counter ░░░░░░░░ I mean these are ░░░░░░░░ isms and I Think ░░░░░░░░ they re going to ░░░░░░░░ a lot of support ░░░░░░░░ this administration for the ░░░░░░░░ the other reasons that ░░░░░░░░ you mention so that ░░░░░░░░ give them the tail ░░░░░░░░ as they continue to ░░░░░░░░ on into these other ░░░░░░░░ markets the company s ░░░░░░░░ a hundred billion That ░░░░░░░░ a lot of money ░░░░░░░░ a short period of ░░░░░░░░ but consider the fact ░░░░░░░░ oracles worth five hundred ░░░░░░░░ I think they re ░░░░░░░░ to shit that their ░░░░░░░░ over the next couple ░░░░░░░░ You throw in the ░░░░░░░░ that it got added ░░░░░░░░ the sb five hundred ░░░░░░░░ s a benefit Now ░░░░░░░░ s good there s ░░░░░░░░ of just switch to ░░░░░░░░ NASDAQ so Mike it ░░░░░░░░ to the NASDAQ one ░░░░░░░░ or find out on ░░░░░░░░ thirteenth when they actually ░░░░░░░░ that reconfiguration their of ░░░░░░░░ NASDAQ one hundred Maybe ░░░░░░░░ provide another boost year ░░░░░░░░ the leg up that ░░░░░░░░ re seeing but in ░░░░░░░░ space in a I ░░░░░░░░ when you look at ░░░░░░░░ as a whole you ░░░░░░░░ there s going to ░░░░░░░░ winners is going to ░░░░░░░░ losers We saw during ░░░░░░░░ dot com era in ░░░░░░░░ early two thousand on ░░░░░░░░ Are there other names ░░░░░░░░ this space that you ░░░░░░░░ As far as a ░░░░░░░░ goes or maybe tech ░░░░░░░░ genera Oh Companies but ░░░░░░░░ we you for your ░░░░░░░░ that charge the mag ░░░░░░░░ which was a great ░░░░░░░░ you showed earlier I ░░░░░░░░ expect a chart of ░░░░░░░░ magnificent software companies and ░░░░░░░░ five to look the ░░░░░░░░ I think that s ░░░░░░░░ the beneficiary of the ░░░░░░░░ service now another great ░░░░░░░░ of that Stay in ░░░░░░░░ names those little leaders ░░░░░░░░ were there early adapters ░░░░░░░░ who be the winters ░░░░░░░░ in that s the ░░░░░░░░ thing that that everybody ░░░░░░░░ talking about now is ░░░░░░░░ move in that pivot ░░░░░░░░ the picks and shovels ░░░░░░░░ are still probably going ░░░░░░░░ do well Moving forward ░░░░░░░░ in videos the m ░░░░░░░░ s everybody that s ░░░░░░░░ this stuff but at ░░░░░░░░ same time is this ░░░░░░░░ that next area that ░░░░░░░░ has to focus on ░░░░░░░░ hey you re going ░░░░░░░░ monetize It see our ░░░░░░░░ s already doing it ░░░░░░░░ saw from their earnings ░░░░░░░░ You mentioned service Now ░░░░░░░░ s a near all