RUSH TRANSCRIPT Scare people ░░░░░░░░ some say hey this ░░░░░░░░ nothing but strength strengthening ░░░░░░░░ I want to bring ░░░░░░░░ James norton You just ░░░░░░░░ upgraded your target You ░░░░░░░░ at 6800 you re ░░░░░░░░ 7000 on the S ░░░░░░░░ why did you move ░░░░░░░░ higher Because of a ░░░░░░░░ things One is earnings ░░░░░░░░ have been way better ░░░░░░░░ the mother s milk ░░░░░░░░ rallies We think it ░░░░░░░░ going to continue We ░░░░░░░░ a I productivity continues ░░░░░░░░ etch hasn t those ░░░░░░░░ earnings And we think ░░░░░░░░ Fed cuts Charles you ░░░░░░░░ not afraid of these ░░░░░░░░ companies getting stronger taking ░░░░░░░░ becoming a greater share ░░░░░░░░ the overall market That ░░░░░░░░ t scare you We ░░░░░░░░ in the early stages ░░░░░░░░ this whole a I ░░░░░░░░ so these things can ░░░░░░░░ a lot higher Think ░░░░░░░░ valuations they re not ░░░░░░░░ Even though the market ░░░░░░░░ Charles right they re ░░░░░░░░ valuations are still reasonable ░░░░░░░░ the big boys missed ░░░░░░░░ right You were at ░░░░░░░░ now you re at ░░░░░░░░ retail s also been ░░░░░░░░ Goldman I don t ░░░░░░░░ if they re being ░░░░░░░░ or they re talking ░░░░░░░░ all these retail stocks ░░░░░░░░ retail investors are buying ░░░░░░░░ 2 billion amd is ░░░░░░░░ the listing some others ░░░░░░░░ say hey it s ░░░░░░░░ meme stocks stuff and ░░░░░░░░ s okay while it ░░░░░░░░ And others are pointing ░░░░░░░░ palantir number one on ░░░░░░░░ list for the retailers ░░░░░░░░ of the highest forward ░░░░░░░░ to sales ratios and ░░░░░░░░ to earnings ratios in ░░░░░░░░ but you still like ░░░░░░░░ We do This is ░░░░░░░░ reminder nvidia maybe three ░░░░░░░░ ago where the multiples ░░░░░░░░ so incredibly high investors ░░░░░░░░ tried to stay away ░░░░░░░░ again the institutional smart ░░░░░░░░ But a lot of ░░░░░░░░ investors were in nvidia ░░░░░░░░ We make this the ░░░░░░░░ analogy We think palantir ░░░░░░░░ into that valuation and ░░░░░░░░ lost report would suggest ░░░░░░░░ can Charles you also ░░░░░░░░ apollo Full disclosure I ░░░░░░░░ subscribers in apollo Two ░░░░░░░░ really worry me This ░░░░░░░░ of swoon here what ░░░░░░░░ going on I ve ░░░░░░░░ felt with the private ░░░░░░░░ folks maybe is it ░░░░░░░░ opaque Do they have ░░░░░░░░ lot of stuff they ░░░░░░░░ t get rid of ░░░░░░░░ love apollo They re ░░░░░░░░ to a restructuring which ░░░░░░░░ think is really going ░░░░░░░░ enhance earnings growth The ░░░░░░░░ doesn t look good ░░░░░░░░ it s 50 off ░░░░░░░░ low which is about ░░░░░░░░ good as it gets ░░░░░░░░ to most stocks Charles ░░░░░░░░ is a sort of ░░░░░░░░ move break out through ░░░░░░░░ and we re off ░░░░░░░░ the races 155 Melt ░░░░░░░░ up Charlie Charles we ░░░░░░░░ melt ups Ge vernova ░░░░░░░░ everyone likes it I ░░░░░░░░ fine with it I ░░░░░░░░ it in my own ░░░░░░░░ two or three years ░░░░░░░░ before they spunoff spin ░░░░░░░░ What s the risk ░░░░░░░░ a great company can ░░░░░░░░ ahead of its skis ░░░░░░░░ time to time The ░░░░░░░░ here is all of ░░░░░░░░ sudden we don t ░░░░░░░░ as much electricity Charles ░░░░░░░░ is None Which is ░░░░░░░░ more demand than we ░░░░░░░░ supply so if you ░░░░░░░░ that that goes away ░░░░░░░░ we don t we ░░░░░░░░ the stock has reasonably ░░░░░░░░ up this much We ░░░░░░░░ it goes higher because ░░░░░░░░ supply demand problem in ░░░░░░░░ is very significant One ░░░░░░░░ the few ways to ░░░░░░░░ that directly Charles markets ░░░░░░░░ big deal A lot ░░░░░░░░ shifting to the Fed ░░░░░░░░ 50 basis points I ░░░░░░░░ they cut 25 I ░░░░░░░░ if they don t ░░░░░░░░ market s at risk ░░░░░░░░ it s built in ░░░░░░░░ this point But I ░░░░░░░░ it s hard to ░░░░░░░░ he would not cut ░░░░░░░░ can t imagine it ░░░░░░░░ think they ve got ░░░░░░░░ reason to do it ░░░░░░░░ ve said they will ░░░░░░░░ inflation to keep the ░░░░░░░░ market strong.