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Full Show 3-2-17

Mar 2, 2017|

Full Show 3-2-17 by The Financial Exchange

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This is the financial exchange with the very Armstrong and chunks of tour exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus get breaking business news and Green Day. And now the financial exchange with the Barry Armstrong and chuck Exxon. Well this is a historic day for a couple reasons one the markets it record highs and too we're gonna have an initial public offering of snapped chat. Which is frankly technology that I still don't fully understand. They are going public today do you value the shares last night at about seventeen dollars this year. And from what I can see it looks like they're gonna opened somewhere around 21 to 23 dollars per share hi everybody it's Berrian truck with you here. And chuck day. I have to tell you my generation. Is kind of hope than that your generation can explain to us with the picks that Chad is all. Naked pictures the disappear. That's a that was four years I thought that got away from well known people stills and a lot of naked pictures the disappear but they also sent clothed ones now too but the the basic premise of snap Chad is that east and what's called a snap which is either a photo. Or short video up to ten seconds. That someone can view and then that picture disappears so it is no longer accessible to them they can no longer see it. But they've also built in some communication tools that you can effectively almost text each other inside of there you can also post what's called a story which is a compilation of a bunch of your different snaps that you put together. So the belts and different features in there advertises a popped on the platform for. Predominately. The reason being that it's used by a ton of college high school and middle school kids. It is the platform visual or of that generation at this point. And I use it occasionally have probably used a couple maybe 34 times a month but it's not something that I do you know very frequently. Teachers are you hot you know use it eighteen times per day they've got 75%. Market penetration among teenagers. And they're on it for more than thirty minutes a day in some cases more than FaceBook Perry. Yes ya the it is it's 6040. Snap chat vs FaceBook that's why it's going off at such Kris evaluation. If you look at the they're losing money they don't have actually revenue. But they're gonna sell as see what we do it with a valuation of 24 billion truck. It's it's in that ballpark and I think the you know the bigs being at that I look at is there's no way to be able to tell. If this is going to be a company that still popular 345 years from now and rate you know like you go through a whole litany. Of social networks that have failed simply because they did not. Maintain that following. With that key demographic because. You know the only one that really succeed in the long run is FaceBook and FaceBook keep in mind has only been around still for thirteen fourteen years but okay. But he go through the other ones MySpace was the biggest one back in the early two thousands of ball by Rupert Murdoch for billion dollars and then sold Justin Timberlake it in 99.9 percent loss. You go through some of the other ones Twitter we've gone through all the problems they're having trying to expand now. You can kind of go through all of these different options out there. And it's so hard to be successful and I think what made FaceBook. Would gave them that ability was when they decided to make the login for FaceBook. Accessible via any type of web page and use that as your log in info that just kind of allowed FaceBook to really reach its tentacles into a lot of different places and kind of it in trench itself even the Internet and I don't know snapped jets going to be able to do I think it's typical product I don't deny gotten but. There's plenty of cool products that don't make good businesses in the long run and I'm skeptical it's not a I think in the valuation as the kids. Well it's it's it's just because if let's say that they do continue to grow let's say this does become. The default on mobile platform for people to communicate on. There's a lot of money there that happens and that's that's what your potentially buying is that upside where you say okay Facebook's value 300 billion dollars right now. News apps that somehow finds a way to supplant FaceBook pay you by 45 billion it's cheap. I just don't know if I I'd buy that story. You know nutty news let's stay with us because we're gonna have live coverage of the offering. Is I understand it chuck and correct me if I'm wrong if it goes off earlier let me know but. I think it's gonna open editor somewhere between 11 o'clock and 11:30 eastern time. And yet and I think we're I believe it's somewhere in that ballpark. But we'll see never gotten with the FaceBook offering we thought that's when it was an open and failed so yeah. Who the heck knows we love will keep denial and it. Right now the Dow down five points after a historic closed yesterday 300 in fifteen point. I mean it was up a lot while we are on the air and then it just rally continued to rally. Through the rest of the day. I wanted to have a conversation regarding stock market valuations where we sit today chuck. The BB it seems like the market is rallying based on animal spirits as opposed to fundamentals. Good way to put it actually I think you know you you take a look just at some of the basic metrics on the S&P. And it is a very strong case to be made. That this market is overvalued by a lot of them right now when you take a look at something like a traditional PE ratio. And we're valued 27 times earnings just. Okay at current turf looking for that's current when you look forward earnings ought to put up I don't have that right in front of me right now. Arm but what I tend to look at is what we call. That is the cape ratio now OK the cyclically adjusted PE ratio of a number that's that that was developed by. Was it sure I forget his first name was Robert Shiller I think. And pretty much what it does is it takes earnings over the last ten years waits for inflation and that does a couple different changes to try to adjust. For current economic conditions now OK so we talked about where we are on that right now currently. That sure PE ratio. Is it 29. No okay the historical average is about seventeen. Now thank. But. Keep in mind we do have some changes that have that kind of made this. A little bit of a red Herring in that companies have been changed how they report earnings and so forth there's different metrics that go in there. Instead there's actually been a couple papers in recent years that have pointed out. Hey we might be overvalued but not as much as the chiller PE ratio is suggesting right now okay. So you know these are some things to remember and I think the big thing. You know when we look like the dot com bubble OK I. The dotcom bubble that Shuler PE ratio was up around 45. OK so it's you don't have valuations that are stretched. In that fashion but you do have a case where look if someone wants to come and tell me hey I think stocks are overvalued by 15% 20%. You could make a case where you say yeah I I understand but that also doesn't mean that the market falls parked more. You know I was looking that the ten year treasury and the ten year Kurt the the bond market if if this thing. Was you know really taking off wouldn't tenure treasures be trading at 3%. Some kind of higher yields yeah I mean that's kind of what I was saying yesterday is that you had this Big Three hundred point rally. And the ten year treasury. Barely budged moved a little bit overnight actually finally I'm 49 I think things kind of got caught up there's a you move from you know kinda two. 238 to further 39 up to that 249 range so. You saw a little bit of movement there but I almost wonder if that's more due to people just expecting. The Fed to go a little earlier now the march odds now of the 75%. On a march hike for the Federal Reserve two days ago that ball that projection was at 33%. Give any way to access what we're seeing in terms of margin loans because that's always something that worries me a little bit if you see a lot of equity buyers buying those stocks on margin meaning but they have a million dollar count. You can on a million dollar count you could borrow easily half a million dollars and buy stocks with that money. That is great if the markets going up it's really a problem in the market levels offer starts to go down especially if you have a rapid decline. In stock prices anyway it'd hate to have to figure out what we're seeing in current margin land in levels. I think I can kind of get a a little bit of vote look at it it's it's not a perfect metric but the New York Stock Exchange releases data on margin debt at the end of every month of guys that's a promise to hold its been so what you see here a give me an example of the at the end of January of 2016 so a year ago. There's about 447. Billion dollars in margin debt outstanding. Were 47 OK at the end of January this year there's 513. That's not that big spread I mean numbing you're talking in percentage wise it's about thirteen or 14% increase so it's not nothing. But it's not it's an insignificant amount of money to relative to the market amoeba like hundred billion sounds like. A lot but the market value with with total market valuation. Let's see market cap on the New York Stock Exchange is about seventeen trillion dollars so broad you miss things you know it's it's a relatively small increase there. So I don't know why I kinda go through and you know take a look at it. And you know it's it's definitely expanded but it's not something. Where it's all coming from mod the expansion of mark and you know margin debt and things like that. So yeah it's I mean that it is a word about that number you 500 billion on seventeen trillion dollar market that I have your concerns about that you know. If that number was I don't know we eat you don't it will do is we'll do some historical. Research on that seat as a percentage of mark cap. With the highest it's ever been and I know it's much higher than what you're talking about here being you're talking about 34% now. Yeah its it's been much higher than in the past so. Willow we'll find out. Goal the gold trading down today ten dollars and 98 cents per ounce at 1239. If interest rates are gonna go gold should be going down I'll beat Gilbert from Elliott wave. He's trader and he's gonna talk to us about. The action in gold and with his predictions are as it relates to gold prices should GB selling your gold at twelve. 39 announcer should you be buying more. Avi we'll let you know next from our insurer match dot com studio. God curry and Jacques. Actually stood on the financial exchange radio network. 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Z red dot net. Security suffered two securities America inked a member finreg SIPC. Advisory services are through securities America advisors think Gary Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated. Today on the markets all day long. And our brand new website financially strained showed dot com click the on demand includes I didn't follow the markets from pillar to post Olympic financial exchange showed does come. The stock market has been on such a role we have neglected to talk about gold gonna change that today were to talk to our beat Gilbert. Elliott wave trader about gold by hobby area. Are you guys welcome. That Bobby just before we jump and a gold palm and Elliott wave what are your thoughts on the stock market be up prices to higher. Radio back from February 2016. We looking for. Generally this region up 242440. Region India on the SP 500. Port eighty potential. Larger can be pulled back. So we know we're now trimming our long has were heading up right in part targets. In which segued interestingly into gold. Because it seems is so cold maybe warming. Bottoming. And potentially. Setting up for another rally as stock market popped out. OK so. And going back to equities is it possible based on your charting to determine what type of correction which is how much of a correction we might see an equity prices. Oh sure sure sure we're we're looking. Only report my truck quickly we're looking to get back to somewhere between twenty to twenty to forty. Up to resign as the 2300 that there are sweet spot with that the point the people. So witty it would is that is 7%. 10%. About a hundred point that a hundred points and made it. OK so not not not a not a collection of 20%. You can go through them not at all we're April pulled back this up another 200 point rally. Going out towards some. Art can help us with gold because I I get this question all the time in my listeners actually buy physical gold points they'll they'll go to. A bank can buy physical gold points at 1239 announced. Would look at how much upside is remaining gold could schooled had a pretty good year. It really depends on on on their long term perspective I mean I've seen gold going up in city multiple thousands. But you know we're talked about a longer term perspective. Job you know on the shorter term yeah COLT can still pull back problem. But ultimately you know they're looking to hold 1015 years out there will be very very very happy. Nights it doesn't matter where the pay 11113. Hundred if you're buying it in 27 team because tenure should not going to be worth a lot more than that. So fed policy fed meets in March we're gonna get an announcement from them. In less than two weeks. Earlier paid just a month ago there's very little likelihood of the Fed rate hike what are your thoughts on a fed on the Fed moving. On March 15. You know we're getting more and more indications that they want to hike in March. But you know its interest in the market we acted. Very differently than most people expected the last two times. For example gold rally where you like to time they are dollar dropped. The last part. So you know people may be interested in knowing what they're gonna do the Smithsonian market back in the way that they expect. And the fifth pick and usual part of that is historically. Gold has gone down in price with interest rate hikes but is that the I wanted to ask you. Which wouldn't win gold went down was it based on long term rates are short term rates going. I would tell you if you look at the long term rates are at there really is no correlation. Between gold price. And and and the interest rates so. I'm I would really not necessarily make any any move first assumptions based on what industry it is if you're looking coal. What about oil any correlation between navy is there any valid correlation today. As relates to oil prices goal to. Big least or relations go in and out so often. That it really is hard to put long term investment dollars. Towards some correlation potentially could be gone. Literally you know within the next month or two fellow croatians are not something I rely on. No it's good to hear is eerie you you read kind of the standard. Information rightly know what you might pick up in the regular media. And I'll tell you well you know gold moves in tandem with oil and gold moves in tandem with the opposite direction of interest rates. It's good to hear from a trader with the you guys are viewing this information that a lot of us are trying to decipher. Bobby thank you very much for your time Persian mark thank you. I think he'll work Elliott wave trader gold. In bullish on gold very. Yeah I mean I think you know again gold's one of those things I typically defer to someone like Gabi just because I don't understand the short term movements well enough to be able to. Kind of deal with the myself. But obviously you know as you said you know bullish on it over you know the short term here. We we are now getting an indication. From the New York Stock Exchange. That snap if you're trying to buy shares it looks like it's an open somewhere between 22. In 24 dollars per share. Neither truck or I will be buying it on the open we are not allowed to. Blew a couple days we could buy some who want it to be ashamed to see if it bit remember how FaceBook behave truck if FaceBook rallied. And then guy should it decline to about half of its IPO price at. Within several months. Yeah I mean you see that from a lot of these the difference I think is that FaceBook was able to turn that corner and proved to its investors. That it had a viable business plan to transition to mobile and move forward on the other companies. Haven't necessarily had that'll pull up you know we tickled to Groupon stock as an example. The other group on stock did the same thing first couple months rally later so. And then all of a sudden just completely fell apart and never turn that corner if you take a look at Twitter. It's the same kind of situation here where Twitter. Opened and you know went public and then started trading in the forties rallied up over the next three to four months up into the fifties and sixties. And then it's been a straight shot down for the and so all of these companies would you typically see is. They may rally at first they some of them don't keep in mind some of them you know and being priced pretty fairly and don't move a lot. But they all seem to go through that dip where investor investors questioned whether their work that valuation. And the big thing you need to see is take and that company prove that they are able to turn that corner most companies can't. Most companies is especially in that text based it's so hard to do what it's not like. You know this is like when visa IPO it and they've been around for fifty years and you know OK we know we're getting. These companies their growth oriented their growth engines. If that engine ever starts to Flickr a little bit like it has with Twitter group honored go pro or any of the other myriad companies we could talk about. You're in deep trouble. Well in India I think of it is not a tech company the united talked about shake shack in the past. Fast and how they you know in order to meet their price target on their stock. They had to maintain. Astronomical. Levels of growth and now we come to learn that they're struggling with. You know their same store sales shake checks same store sales growing at a slower pace than all of Gordon. Source in the at all gardens been around for seniors dipped. And this is you know in particular was shakes Jacqui also a founder who. In his own book in his own words and look I don't wanna grow business too quickly could my dad did anyone out of business. You know nowadays it's a good point. When we come back we'll have a trivia question for you and we're going to be talking about. Big Macs get delivered to your house that's next from our insurer matched dot constant. Making your Smartphone even smarter. Dell logo mobile lab by surgeons financial exchange joke in nineteen Jordan who. Who played stores this is the financial exchange radio network. This is a special announcement for a landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of rent today we're zero and leader banks all mine rent collection tool he went automatically deducts tenant's rent and deposited into your account visit www. 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Our friends -- the insure -- -- agency can prepare personalized plan that gets you the best coverage -- the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars that that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered who also dig out all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates -- carriers and 844 and 99 match -- 84499. Match insure a match works with the leading carriers in the industry like our bella Plymouth rock and more their license for all types of insurance and continued time stressed the money with just one phone call and one relationship. Called today 844 and 99 match or go online and ensure a match dot com. Stay on top of breaking financial news by becoming a member of both batteries brigade. Log on to financial exchange dot com and sign up today. Trivia has brought to you by German. Looking to update your insurance policies. When call with insure that will give you multiple quotes from several of the top carriers. It will help you make the right decision for your insurance needs call ensure match today 84 for 99 match or visit them all in line. As in sure match dot com. On this day in the year 1904. The author and illustrator of beloved children's books known as Dr. Seuss was born in Springfield Massachusetts. From which Ivy League college. Did Dr. Seuss gradually chuck you were not allowed to participate in this went to our text number is 68680. That's a touch with a city wanna send us a comment or whether you wanna play trivia. From which Ivy League college did Dr. Seuss graduate. If you're the first list are correct answer you will win it price pack that includes two traveled coffee mugs T shirt into the hands. And again tech's number 68680. Chuck we were having a conversation. Earlier about the stock market and whether. You think it's too cause you made it compelling argument based on the case Shiller are not case Shiller. The Shiller index. Known as K do you think the market is too high to invest in today. 44% of you on our website financial exchange showed dot com saying yes I think the markets to high 55% of you saying absolutely not. At dinner with a fell last night track in the last eight years he's been sitting in cash. That several million dollars that he wants to invest knees and really between Iraq and her place as it. It on one hand he thinks the economy's gonna do a lot better but the other hand he said GM might bind at the peak. Yeah I mean I think the big thing to remember is if you are buying for the long term. Which is typically the only reason you should be in the stock market if they're trying to turn a quick buck the stock market's going to hurt you just about every time. Okay. If you're buying for the long term meaning let's say that you're in your forties trying to plan for retirement if you're in retirement you're saying hey I need this money to last in the mine ninety's. If that is the situation. It's that was not a bad time to continue averaging into the market. It's probably not a time to take everything that you own and put it in you know I'll I'll tell you that much but if you're conducting. The problem that's that's the spot he's in great we're having dinner yup and and he was commiserate and has. I'd seen him I don't know probably six weeks ago back in January we had dinner. And he says you know think about giving a couple million bucks to invest for my family. That's an okay great field opened up camp but he says in six weeks ago only these valuations look awfully high the market's up a lot. Well now you would woody hopefully in 14% since the election. Yeah and OT ye hear this all the time I still remember back Ian 2013 when the Dow finally got back to where it was pre crash. You know I was in college rallied so much can't go up again think about what happened the last time we got here and since then the market's gone up another 50%. So you know every time someone says oh it's gone up so much how could possibly keep going. Well look people been saying that a long time probably since the Dow was at about a hundred points back in 1920s. So all I'm gonna go to 110 out to be 200. Well here we are 21000 so look if all I'm trying to say is yet there's some risk inherent in this market right now you're not wrong when you say that valuations are stretched and you might be a little over valued. But if you look at this on 82025. Year time horizon. You don't know where the next move is going to be so you kind of have to average in. To make sure that you're in there at some point that that's kind of the nature of the beast you can't wait forever otherwise you miss. Everything. Let us know how you feel about it financial exchange showed dot com participate in our poll. Do you think the markets are too high to invest in today 44% of you saying yes they're a little bit the other 56% on your mind you're saying no valuations are okay. I've been indicted talk about the story all day this is all very Armstrong dreamer here. This that this is the that there are strong dream and segment. McDonald's I'd love this comeback I think I'm gonna go buy their stock. Nick McDonald's doing two things that I absolutely. Love. One if properly and effectively get rid of the drive thru because I am now going to be able to go to might mcdonalds app on my phone which is connected to my credit card by the way. And I'll be able to order mine McDonald's meal hole into the parking lot and somebody will bring my bag of food out to my car. Love that first day that that thing I I love doing that yet it is how great is that an hour roller separates this from. This is the first McDonald's signal or I'm not gonna prove prove anything that you say here. It meant that an if if that's not good enough. Two to help you further imports because every but let's be. As Americans we love you might deny it but if he's going to actually any vehicle O chuck if I winning your car right now. And right if if I took the keys to both of your cars today. I could find evidence of McDonald's consumption somewhere in your car notion and I don't know like I find if I try allies to share of the interior the other day. Now they dubious salt package in the glove. Apostle. And it bit they'll be QB he buried that for my tires when it gets you know slippery outside got an alto and everything look the 88 equal I take what. One I've got the cholesterol the proof. McDonald's is frequently consumed in if you went through any vehicles in my household you would find evidence. Jerry Armstrong the big Mac eating Prius driving maniac that he is an option people. Chevy Volt I'd I'd buy American. And coach. It and that's the other reason I to McDonald's for I don't eat American food but here's the effect. First of all that that's good right at the fact that I can pattern to go to the store the bring it to like dark I love that what's even better. Isn't enough to get you excited about McDonald's. Now or is it later this year mcdonalds will be in delivery so you know those Wednesday lunches that we always the you know we ordered election truck. I don't know no we don't look how we had a goal and an end and it's in the pneumonia. Yet McDonald's is going to be. He beat Donald's is going to be on the same park as triples. He beat me he will be I guess that's why we don't bring in mcdonalds now such a pain and you try to give everybody a nap here but what I. You have a load of technology to pass and out by 2 o'clock not paying up and help observers have a weekly McDonald's. If you just go eat go to your doctor and you'd get him to devious that drugging girls I mean it's it what's the big deal he has got to. It lighten up if you hit into your thirties but they see these are two I I looked at this what. Take a look at the stock track is a stock move in on this it's a tool. If it's not should be. The eighties CD it's a less than a quarter percent so. Wall Street not nearly as impressed by this. I think here's the question that I have so. McDonald's is talking I do like when that when they're talking about delivery they're knocked him to do with themselves they're gonna outsourced which is what I've said they need to do all along like that. My question is still what is the delivery fee going to be because for example if a big Mac is four dollars in the delivery fees five. I'm not do and known and they remember how these delivery companies get paid heed commission I'm Bill Clinton don't know. There I used the you pay for delivery idol that you would you pay five bucks yes I'm not gonna pay nine dollars for a big Mac. No but if you're order exceed your constructions. And you've got thirty guys about those too often. That you get thirty guys ordering one trade with oh yeah higher if if if if if you're in an office if it if it's a big group like it but keep in mind. There's a lot of people that don't want to eat McDonald's. Like I I don't I I don't go out of my way to or Collins saying you're used that this unit you know chuck you're you're fundamentally. Wrong here at I I I used to tell it like go to McDonald's and pick up the the nuggets pack when he. Packers get it in in an emergency when I have no time for launch. Yet yet the good you know Tucker those emergencies occur about once every week. Earl merton seasonal hold on there. Hope hold on I'm going to go on my phone right now I've been app that tracks almost bend Nokia and and I am going to find the last time that I have any charge from McDonald's. To make it purity and what you just hide those purchases from you know eight bear I'm telling you what what do you think what's the over under on when you think the last time I ever meet the McDonald's for thirty days. Thirty days let's go one on there. You go under growing under I think there was an emergency the last thirty days for you you're right though Lester and red eye. Remember its last thirty middle class transactions for seven dollars and 69 cents that's a lot for McDonald's broken Tucker. I believe this is October 5 when he it's been dialogue on October 5 when he sixteenth. The one before that card against Sammy the bull crap button there that puts them pull push the pole for the one before that again we're looking again 76 tonight is always get the same thing. July 3 two point sixteenths on average it appears to be every three months or so the one before that. Is from may 27 about two months. That reminds me I need to get a bull crap button. You have to know how the candidate they select although I note bill don't lie the bill doesn't lie. A quick announcement on behalf of Cushing and dole and it is march 2 2017 and Cushing handle for the first time ever. Is making it guide available. Called the differences between revolt global and irrevocable trusts. If you asked any of my advisors when they walked in to a meeting for the first time if they're meeting with the a prospective new customer one of the first questions they you'll get is. Very what's the difference between a rebel global and in durable global trust and use it and we spent half an hour trying to explain the differences. If you wanna learn the differences in writing. By a law firm that does the leaving work in the country on this particular topic. You call this number it's 866848. 56998668485699. It explains this document which is free by the way. We'll explain all the differences between real vocal which is probably what happens in your war. In irrevocable trust you don't you know if you have in your local we'll trust you file a tax return for the trust every year if you don't that means you have to revoke. If you wanna get a copy to guide the number still free 8668485699. What are shake shack shares. Do and today truck pretty much flat. Which did did they tanked yesterday let me take a quick look here to safety the they missed no I didn't. Now pretty flight yesterday were down about 1% today. Kind of in the same ballpark as where we closed yesterday a year to date. It has not been a particularly strong year so far down about 1% while the market has rallied. So they haven't really moved at all in the rally they've participated at all here. And as you mentioned. You know they did have some struggles with their same store sales. Just not being able to grow with the rate they want to same store restaurant sales of one point 6% for the most recent quarter. You know Tucker are we going to Bob Lang in the next thing we are okay do we nobody has for stocks. Yes Colgate and craft Tynes. You don't Colgate its interest in. You know we're talking about the snapped by PO and craft time for that matter. Both of those companies I can promise you be investors not they won't buy the stock in snap but you'll be advertising. On snap because they wanna get these kids T eaten at that thing is that Chet. It is going public today. And it's priced. Somewhere between 22 in 24 dollars this year in you might be saying to yourself why in the heck are. My boat is money plowing into these stocks. The reason news. They own the teenage market in between your teenager when you're going to college these kind of decide who it will come toothpaste and lieutenant deodorant my knees were tennis openly use. So companies like Colby and craft times. Will be advertising on snap Chad before you know that is our next topic Bob line from thestreet.com joins us next from our insurer match dot com studio. You radio that can enrich your life and help your portfolio. Grow the financial exchange with Barry Armstrong and chuck signed up on the financial exchange radio network. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Our our chart here and I'm joined by estate planning attorney Todd black ski with the law firm of Cushing and Dolan were talking about the differences between revoke Kabul and irrevocable trusts. Todd if you already established a re vocal blurry living trust can you said we go back to the attorney that drafted it and of mend it. In an effort to have it become a durable global or Medicaid trust. Yet the answer is yes you can go back and get an irrevocable trust but no you cannot go back and on the and the old trust. So I think that Barry what it requires him. It requires the crafting of a new document absolutely in fact we. I'm gonna tell you right now if you do go back two year old lawyer to get it changed and here she says Alia weakens we can you know. A man this existing trust that you have walked out that because it's a recipe. For disaster he's irrevocable trusts are not simply go in and take the word revoke evil and make it irrevocable and somehow that fixes it it's the language that needs to be in the document soup to nuts. The guts of the trust that really provides the protection you're looking for. From the cost of long term care and and I might add that just because you've done a revoke of trust in the past. That's not a black thing that you might have done fifteen years ago it might be time to say you know what I'm older tax laws have changed their or sale has changed circumstances changed. Maybe I should go back just to check and say maybe it's time to switch to the irrevocable trust to better satisfied my current needs. If you don't have long term care insurance it might be a really good time to learn about the differences between revoke global trusts and irrevocable trusts. The phone number to call is 8668485699. Call Cushing and dole and and request this brand new guide that describes all the differences between revoke global verses irrevocable trust the phone number. 86684856998668485699. If you missed any part of today's show not to worry go to financial exchange showed dot com and click glisan. Then click on the mend and catch up on every segment. You'll also find podcasts of all of our poll shows just punch up that listen button had financial exchange show Doug come. This segment of the financial exchanges brought you by leader bank. If you're looking to diversify your portfolio precious metals. Are Smart investment gold and silver bullion coins are now available at all leader bank locations. Call 8776917900. Or log on to Peter bank. Dot com for more information. Dr. Seuss graduated from Dartmouth College in the year 1925. Did you know we actually have a doctor shoes room in our library. Don't know that I would brag about that but. We certainly do Theodore diesel. His name and other winner on this one was Peter from blocked in South Carolina that's right listening all the way down at South Carolina. And Peter takes only financial exchange prize pack of to travel mugs to pans and a financial extreme exchange teacher. And our trivia contest is brought to you by insurer match looking to update your insurance policies one call with insurer match will give you multiple quotes from several of the top carriers that will help you make the right decision for your insurance needs culture match today at 844. 99 match at 844. 99 match or visit them online at insure a match dot com. Bubbling from the street now joins us to talk about stocks here and Bob thank you for joining us. Thank the more gearing shot happy. There. Yeah we're we're chugging along with a week only only about a day and a half left here and Bob let's let's talk about a couple our consumer staples stocks Huard got Colgate palm all. In Kraft times talk a little bit about your expectations on both parties. Well with our old all been and it is anything that. Or three or more than oh I don't know what. You know call eight brands are. Not a crook there therein. People name. More were not the pocket all. My back out around October oh number. And that right after the election may bottom. Yeah early. And he got it back GAAP generally aren't stock era to three dollar. It has been on air pocket that or are and are. Chuck Berry in the bad spot and it didn't. It's really gone vertical I don't think I've ever been a stock like that. I am in particular group. Go vertical like that over over the shore appeared on eight that you're not over over and ethical and people stock up over. In an all apartment and you know I I feel lucky day. The market bubble. I don't really. Been an equality there all editors are higher. What about when we turn over tickled to craft lines. Well crack aren't the to me. That more about it it. And another arrangement that their money together about it crack it. In more frequently they were. Is yours. Usually right they European. People company and the stock at all. We don't on rumor couple Friday so that. That rumor I was shocked. That it didn't wanna Biden but still the dark. An accurate sell off on it that it dollar you know chuck an area that doc tee box. Early part amber ovals it 9090. Just a couple weeks to Donnie Austin our debt that it when he ducked out you know I'm unbelievable lose. A lot. Yeah all our company you don't really are gonna be drivers. Are to be. Pushing really really hard. Look at it. Yet seems like there's been a lot more movement in that sector than we typically end up seeing there. Bob thank you very much for joining today we appreciate the time as always. That YouTube Bob Lang from the street talking about Colgate Pall mall with a ticker EL. And Kraft kinds with the ticker K each seat. If you're trying to get in on the snap IPO the symbol by the way is S and EP that's the symbol for snap trap. They were priced last night at seventeen dollars per share. The first trade appears to be going off and we don't have the first Trey get it's gonna go off in minutes you need to stay with us here in the financial exchange. But it appears chart is if it's gonna go off somewhere between 2350. And 2450. Indicating that snap jab may put some money on the table. Yeah I mean you're seeing that's gonna be an open that somewhere around. Thirty to 40% above the IPO price might have looked a little bit on the table but also might provide for a little bit more liquidity down the road with. All right. Market is down right now the Dow Jones Industrial Average off fourteen points and the S&P down six will be back in just a couple minutes with a snap chat IPO you've been waiting for this for a year. It's coming soon. That's next for march or match dot com. Hi this is very Armstrong did you know that the federal funds rate set by the Federal Reserve influences all other common interest rates the federal funds rate is the rate that banks use to charge one another to borrow money and while it's one of the lowest rates in existence it is rising observers expect additional rate increases in 2017 the Armstrong advisory group has written a free guide to inform you of the challenges that exist while investing in rising interest rate environment if you have questions about how these rising interest rates might affect your financial strategy call 803934001. To get this free guide or download it at our website financial exchange showed dot com if you have over 400000 dollars in invest more assets you can set up an appointment for a free consultation with one of our advisors who can help you navigate this new rising interest rate environment that's 8039340018039340012. Series offers you securities America incorporated members in SIPC and advisory service is offered for securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are. Unaffiliated I am very strong from the financial exchange and I told you about leader bank many times I've taken advantage of some of their super offers and I'm here to tell you about another one there rock ringing a tremendous deal for a small business loan this offer is only good for a limited time so if you own a small business and you're looking to make improvements this is a deal you should really pay attention to you can secure a four year loan and fixed rate of three point 99% without. 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Match let's before for 99 match many of our listeners don't know home and one or two cars that they describe zero you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered -- so they get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates in carriers and 844 and 99 match let's 84499. Match insure a match works with the leading carriers in the industry Mike Rabelo Plymouth rock and more. Their license for all types of insurance and can save you time stressed the money with just one phone call and one relationship. Called today 844. Talking about interest rates we are of the opinion that interest rates are going to rise two or three times during calendar year 27 team the big question is chuck why is the Federal Reserve increasing the federal funds rate now. Yet the big reason why the Fed bumps up that federal funds rate. Is because they feel that the economy is on pretty stable footing and they simply want to make sure that inflation. Doesn't get out of control of there's too much money floating around in the economy so what they do is they raise that federal funds rate and it has two effects one it makes borrowing a little bit more expensive. It also raises the amount the people were able to get on things like CDs and savings accounts helping them to keep money in the bank instead of spending so. Would we talked about how housing. Is hot in prices are rising in young people colonials are getting priced out of the housing market people can't afford to buy a house house because prices are rising too fast with the Fed take that into consideration when they're looking at raising interest rates they would housing does factor and all there inflation metrics that they look at. And so is definitely something that factors in. And what you see there is that as rates and the rising mortgage rates go up to makes a little bit more challenging to buy a home focus of the rising mortgage rates would actually depressed housing prices good to know. Hey folks if you'd like to get a guide called how to invest in a rising interest rate environment call my office it's 800. 3934001. That's 80393400. What we are of the opinion. That interest rates are going to rise two or three times during calendar year 2017. If he'd like to receive a copy of our guide call toll free 803934001. Securities offering to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Some folks are willing to accept the glass is half full but when it comes into running. 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Forever and Waterville Valley visit Waterville dot com Waterville Valley resort is a proud partner of BMW. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buyer gold locally it just makes sense give leader bank a call and learn more call 8776917900. Or visit leader banks dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- This is the financial exchange with the Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day here so leave your world. They informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with Barry Armstrong and sharks done us. If you're anything like me you probably don't know what's snapped this whole battle site. Still don't fully understand it I downloaded the app this morning I joined. I'm Armstrong hit 1959. By the way to a friendly autumn and his shirt off I got I got a couple pitches and it. I I don't even know how to liked the to send a picture they you know I haven't figured out how to use that they need and need a teenager. To come and teach me how to use it because Yuri that tool to be snapped chatter into. Tucker 200 shocked there's Janet Tucker Tucker I don't know where in the but it used napkin and I don't know I I thought it was like 75%. Market penetration among teenagers. Well neither of us teenagers and that's why I don't know we're big boys now to a anyway it's it's priced as if it's gonna trade. And open at 23522450. Per share to historic day this is the biggest. Tech IPO that we've had since FaceBook and if you were call FaceBook opened on the NASDAQ in the screwed that up. That the whole FaceBook IPO was a mess from the day. From what started. In sometime in the next 24 minutes will should be able to EU trade on snap jet I'd just I'd just that you have for your first snapped up by the way. Yeah I actually. They take a while to open it but the picture mis don't get too excited. Okay all right but it the ID it only lasts for how many seconds. In specified that the standards what like five it's true he won the 102 I think if default is like five of Paul's I think the falters six seconds I believe the island who decide whether it's one to ten seconds the receiver at the center the senators under. Anyway. The other thing I want to addresses. Stock market valuations. Markets trading at record levels and we poll question today do you think. The stock market is too high to invest in today you know in this is relates back to the conversation I had over dinner last night with a different mind. Who's on tons of cash and is very hesitant to invest as he says Padilla missed it up 14% since the election. 41% of you'd see that the market is too high. And 58%. Say no it's not so truck with that would indicate to me is that our audience is still bullish on the future going forward. Boy it in I'll tell you I think that the results that we've gotten there are big they kind of sum up how I feel almost it's a situation where. I look at the market nicely yes there's there's definitely some concerns out there. But at the same time. If you're looking at this from a long term perspective it's not a sell everything moment either so I think it kind of sums up some of the feelings that a lot of investors have right now where. No one quite knows what to do work kind of in this limbo it feels like and I think that that's exactly what we're seeing from our listeners right now. If you're just joining us from Rhode Island Connecticut New Hampshire Maine or Vermont. Please go to our website financial exchange showed dot com and participate in our poll question of the day. I'd like to get a sense of our audience as to whether or not they still think there's room to buy stocks at these prices that that's really what I'm trying to get that and its. You know that a lot of bear statements made in the last night duties regarding equities and none of them have been particularly accurate. Talk about coding boot camps. You know. I got a call from. The mother. What my clients who has a son. Whose texting going to vote coding boot camps like you were some references to how to get involved. Turns out these are very difficult schools to get into coding boot camps. Yeah and ended they're not cheap either you know you're not talking about something where it's like summer camp and it's you know a thousand dollars for a few weeks you're talking ten to 20000 dollars for courses. That usually last about three months and what you're seeing here. Is a move by these boot camps to try to institutes and standards to make sure. That the not to agrees that you get the the certificates that you get from them. Actually means something and try to promote. A standard of course work that needs to be completed in order to graduate from one of the ease and so. You know the reason you've seen this is because some people started a boot camp that don't meet the standards and so what happens is someone goes out. Tries to find a job and either a can't get a job because they don't have the skills necessary or B. They get on the job and then all of us in the importer realizes hey this person can't do what I thought they could and get rid of. What you know the other thing they're trying to do which I admire the egg because it's a self regulatory organization. They don't want to fall into the camp of the for profit colleges know that's that's their big fear you know is that the unity they're going to be. Viewed in the same. Being as some of those bad for the for profit colleges that we've referenced in the past I won't name any it is just no need to. But with they've done too is they're gonna subject themselves. To audited statements as to. Did the kids that graduated get a job and how much money did they make when they graduate in those those are going to be audited results. That's going to be very powerful in terms of recruiting tool. I think so because. You know again when when you are going into one of these coding boot camps. Coating is one of those things that you do just for kind of the joy of do you know you don't you don't spend this money just for the joy of doing it you can code on your own if you wanted to button when you do this it is with a specific intention. Of trying to get a job afterwards and so because of that I think that the data that they're trying to collect on job placement wages things like that. Makes a ton of sense in this environment. Why is going to be very helpful and and I think what it'll do is it will. Attract even more students and I think what you'll see chuck is if you've got a kid. That's really do it in high school and he's a good math student in you don't wanna spend a quarter million bucks to send him to a private college or university yeah. You might just say you know what it like I don't have that kind of though. You know what you work for a year and then go to voting group in an up you know 44 go to. The campus experience for four years but you're coming out if you got a good it is the disk in correctly your from wrong but. For coding isn't a lot of math is is that what you really have to have as strong suit normal. There. That you definitely it depends what you're trying to do and coding. At its raw is the level. Is more about in understanding of language actually because that's what year you're using effectively is a language so. It it's match in terms if you if you need to build applications that actually do a lot of complicated things you'll need a math background but coding at its most basic level. Is an understanding of language and syntax in knowing what needs to go where as opposed to the specific map. You don't get the well rounded education that you would get by going to garment or by going to Roger Williams. But you duke yet you when you graduate after a 120 days of boot camp you've got to scale. And it's quantifiable scale finally having an electricians license right or having your plumbers license or having. You know TE EE EE you've got eight skill. That is marketable young and eat it in two days it sounds like it's kinda marketable. When meat institute these changes it should be very helpful to. To the book I think so. You know again I'm I'm all in favor of kind of establishing minimum standards but then allowing. These boot camps to kind of go and develop their own curriculum still just because again it that you need to have kind of a base level. That says hey here's what you're getting if you get someone from one of these camps but at the same time there can be differences in terms of how they teach them what they do on top of that. Lift is seeking at least 500 million dollars in new funding. And I was excited when I want to read this story because I own shares of General Motors one of the reasons that I own shares in General Motors as their major investor. And let that dictate all more than 10% of the company. But then went on to reach out in minutes right at the end of the article. The company remains unprofitable losing 600 million dollars last year on 700. Million dollars in revenue. Is over having similar experiences it is who we're losing money the same rate that leftist. We don't know. And we. We think that we were pretty sure they're losing a lot of money. I believe the most recent data that IA I looked at. Showed they were projected to lose somewhere around three billion dollars. In that ballpark last year so all of these guys are losing money in the reason for that is that in order for them to be profitable they would have had charge significantly higher fares well. They're not doing active they want to undercut taxis and so forth in this and that. The big thing that both were trying to get to was autonomous vehicles because if you can do that their profitable at these rates and it's it's almost a race just to see if they can continue to raise that money pumpkin remember how did that raise 500 million dollars last year. They did I think most of it came from GM Mary Barr yes I look at this and look if you got a raise half a billion dollars every year just stay afloat and continued deluding shareholders. And that's kind of a tough putt. He cedar grove the day the the are starting to pick up a lot of disgruntled. Mover users. The meat they have benefited the deep you know you alluded to some of the problems that dutrow was going through I really didn't. Pay much attention to it you know it was sexual harassment in the office place. And I discount who booted but then I went and I read the article women. Are dropping Cooper yeah crazy up like crazy track it this week you'll probably won't get we will you're a what had a wife waiting on this my wife doesn't know. Biden is really care I don't think. She doesn't know if I guess a lot of women have to sit screw this I am not the they're deleting the Cooper and they're moving over to lift they will not use. Who noted the there's an there's evidence there's evidence to that based on credit card transactions in and I don't blame them necessarily who Hooper has some. They've gotten a little too big a little too quickly and I don't think they fully addressed some of the issues that are present in that company. You know that's I think he we've we've seen this before with companies you know if it happens frequently when you go through a period of huge success. That you leave a lot of problems unaddressed and eventually they come back to bite you. Very good period now we're still waiting for the snapped trade to go through we do know we've reasonable leave patients. That the first trade Al Gore somewhere between 23 dollars and fifty cents and 24 dollars and fifty cents. We will be joined by Bloomberg analyst in the next segment to walk us through the snap IPO. It looks to me like they're leaving a lot of money on the table but we'll talk about that would Kendra. Why are all from Bloomberg that'll be our next topic from our insurer match dot com studio. It's important Cheryl for everything business and finance it's the financial exchange with Barry Armstrong and chunks not a on the financial exchange radio net. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most of head of rates in New England a dedicated loan officer will work with you every step of the way and their local decision making music faster closing call 8776917. To 900 that's 8776917900. Or visit leader bank dot com. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by your bank's local underwriting process and teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Maverick DNC equal housing lender MLS number 449250. Subject to credit approval leader bank a step ahead you're financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends -- the insurer imagine agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars that that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates in carriers and 844 and 99 match -- 8449. -- nine match insure a match works with the leading carriers in the industry like our -- Plymouth rock and more their license for all types of insurance and can save you time stressed the money with just one phone call and one relationship. Call today 844 of 99 match or go online and ensure a match dot com. Hi this is very Armstrong did you know that the federal funds rate set by the Federal Reserve influences all other common interest rates the federal funds rate is the rate that banks use to charge one another to borrow money and while it's one of the lowest rates in existence it is rising observers expect additional rate increases in 2017 the Armstrong advisory group has written a free guide to inform you of the challenges that exist while investing in a rising interest rate environment if you have questions about how these rising interest rates might affect your financial strategy call 803934001. To get this free guide or download it at our website financial exchange showed dot com if you have over 400000 dollars in invest more assets you can set up an appointment for a free consultation with one of our advisors who can help you navigate this new rising interest rate environment that's 803934001803934001. Three suffered securities America incorporated members and SIPC and advisory service is up with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. It's our daily poll question had financial exchange showed Dodd John. Vote your conscience. There aren't just vote go to financial exchange oh god come and test the way. This is actually a really fun thing to watch I'm watching shares of snap. Trade the simplest SN eight it's trading on the New York Stock Exchange. And at the open it's up 46%. Trading just heard around where we thought it would truck around 2490. Per share. Yes been moving up steadily since the open there and ideas pretty mind blowing actually to watch as I remember doing it with. With FaceBook previously. And we're joined now by June trip June 10 road or all from Bloomberg intelligence. And to tender thank you for joining us thank down. Let's talk a little bit about this IPO obviously. You know pricing initially at seventeen dollars but heading up into that 24 to 25 range shortly after the open. It is assigned that they left too much money on the table or is this kind of what they're looking for actually. You know what's interesting is that because there has not been a deal on the table for a long time. There was a dearth of my peers in the market and there was a lot of hunger out there for such Steele told if you sort of look at historical. I pick IPOs have they have done that mean disk comes in pretty much in line with doctor. So if you do look at averaged. He won popular tech IPO so the last ten years I mean it's still illegal under 50% range. So this pretty much in line. How much money did snapped shut and up rob raising through this offering. So it's like put a three billion dollars seen on the right now the valuation of about 34 billion dollars at current sort of price hopefully disputed. You know the worry here is though that the valuation if you just look at the multiples like you know price to sales could perhaps the most. Relevant one voice here it's creating a pretty much in all the hot topic of the range form mortar the accident happened in the last ten years. And again I guess let's let's talk a little bit about that valuation here because you know the big question is is one that I struggle with an awful lot is. You know it it seems like with companies like this there's not really a lot of middle ground either their runaway successes. Or they kind of go to the graveyard at some point how people trying to make sense of that can you talk a little bit about where their business model needs to go. So right now it's just that the story into two parts which is revenue growth and musical the revenue growth should decline I think has just in the beginning to offer more tightening their audience there are average revenue per user is it. 110 of data FaceBook for the revenue growth because of that revenue days and and that's our poll got that we talked what should be fine. Now the big worry here is user group which has been fact claiming. For the last two quarters and indiscriminate cropping up lately quickly. So the next couple of quarters if the door shall resilience against. Facebook's. A tactics. Can we have a big problem. So you're saying this is something where the next couple quarters this to become pretty apparent here. Are currently home on long comes sort of trajectory obesity to it would give more transparent because right now. The fact that people are making it on the potential to accompany children in the engagements pretty strong a strong it is beyond the social network out there. Flat and then the impeachment especially among the close to 24 is. Is this pretty pretty hard so if we can keep that there. Then you know they can be a big players next winter ground men and YouTube in that segment which targets Utah archetype. Where is a lot of beyond money from this round from this IPO going is it going got to pay off earlier investors is being invested back in the company do we know. Yes so part of it is going back to investors but the bigger chunk is going back to investing in groups the companies so you know the future strategies. Hardware. Is a big push because pencils or camera company battering that aren't much tools so that they can grow their revenues faster. And of course a cloud fees and things like that they have to take it to Google and Amazon going forward to hosting services so you know investment in the future and general. And the snapshots of very popular with the up people in their teens and in their twenties. What kind of penetration they have Ian. Older markets. That's a great question so. The penetration rate if you looked at in in in the US forty just less than 24 is already at 10%. It is it's pretty pretty penetrated segment the older 25 plus is there they have very very small. In fact we saw some optic happening in the last couple of quarters about segment but we don't know exactly you know the product strategy canned. But really get. You know put different stuff audiences on border on the term. Look if they want to stick to the extent I think that's competitive strategy because they normally means better than anybody you know stiff shall not put their products so if statistic about. And try to make sure that even dot audiences these with the platform. They could and they could have flown in a decent market share a couple of years on the line. Back in the fall lodges before the holiday season would snap announced they were coming out with these are sunglasses that allowed you. Shoot video and also take up pictures and haven't sent directly to your snapped chat. That there are many other products coming out or they are they going to continue kind of focus on these two areas the glasses and the app. Yes so that you would you break down into the insisting can go out and let's call it. The content platform and hardware strategy that it took a content platform Canadian there is that the people Harper's strategy with spectacles and maybe some improvements on line may be augmented reality it's the post fuel com and on the core platform right. So then you know hundreds distributed. People are capturing more appear pushing more content on the mean talks on the engagement mean curtain goes up because of the contents the ID inventory goes up and in order to sort of sort of election cycle estimate. All saw how old they plan to include an Islamic. Very good tender thank you very much for joining us. Thank you to tender war all from Bloomberg intelligence talking about snapped the IPO currently. Trading baton 2450. Hard to keep track. The darn things that the volume on this thing it's unbelievable lot of shares changing hands right now. And keep in mind that all of the yacht you're your founders aside from beyond the initial shares that they were allowed to sell. Pretty much any one who was either at the company early investors so forth they go throw locked appeared where they cannot sell shares. Typically it's for the next 9280. Days depending on the exact specifications here. Some of them could have sold shares in the past they would get opportunities like Hooper I know and they don't put him at the open as well they're allowed to at the IPO price but not once it goes public. Cole Eric is that I know Wilbur even though they haven't gone public. Some of the shareholders of the founding shareholders guys that were like employees number thirteen in employee number twenty yup some of them at parties liquidated some of their positions yup yup it's eat you you certainly can see that they of these secondary markets that are open. For some of those people to sell prior to an IPO. All right coming up we have to predictions for your truck will predict when who burst gonna go public. And I will predict what's gonna happen to Jimmy go below we have a lot of predictions coming up next. From our insurer match dot com studios. You've got to barrier and strongest financial exchange on the financial exchange radio network. 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State and asset protection planning can be overwhelming where do you start and how do you know what type of trust is right for you hi this is our our strong and I'd like to talk to you about the law -- of -- handle and -- been creating a state plans for folks in New England for more than thirty years and they can help you -- with all the different types of -- available I can understand the confusion when it comes to a state planning do you need to -- global trust do you need an irrevocable trust and what's the difference you it's an expert advice and -- -- dollars put together any free guide it will help you decide the best plan for you and your family you can receive this free guide the differences between -- global and irrevocable trust by calling 8668485699. They can even show you how it's possible to eliminate your state taxes while at the same time protecting your assets from creditors and long term care expenses caller right now and get this free -- 8668485699. That's 86684856990. Or download it right now from their website legal exchange showed dot com. Your financial strategy has to include a thoughtful insurance claims and insurance exists to protect your assets. Our friends at the insurer imagine agency can prepare personalized plan that gets you the best coverage at the best price -- Shura match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars that that describes zero you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered who also dig out all the discounts preferred customers late you can qualify for call insure a match to compare multiple rates in carriers at 844 and 99 match let's 84499. Match insure a match works for the leading carriers in the industry like our bella Plymouth rock and more. Their license for all types of insurance can save you time dress them money with just one phone call and one relationship. Call today 84499. Match or go online and ensure a match dot com. The latest financial twins game we'll place it's the financial exchange we Barry Armstrong and chuck not a on the financial exchange radio network. Yeah. Trivia news Rajiv by insurer and are you looking I'll kick your insurance policies one call with insurer match will give you multiple quotes from several of the top carriers. And we'll help you make the right decision for your insurance needs calling your match today at 84499. Match or visit them on line. At insurer match dot com. We're doing tribute today based on the author and illustrator Dr. Seuss who by the way it was born in Springfield Massachusetts. What was the title of the first children's book Dr. Seuss wrote and illustrated art text number is 68680. The first listener with the correct answer will win a prize pack that includes. Two very nice silver travel coffee mugs. We can use the hot Tia supposed. A T shirt into pants. What was the title. Of the first children's book Dr. Seuss wrote and illustrated. And again our text number is 68680. If you'd like to play trivia along with us. You know chuck we're following this snapped chat IPO which is trading at 2455. As we speak. And I kind of put you on the spot there about looper but I have been weak for this darn Marbury. IPO which could be. Gosh I guess like sixty or seventy billion dollar IPO when they finally go public. It's going to be tough for them to. Honestly Q here's the thing when you are a company that's trying to go public there's there's two main goals that you wanna accomplish there okay. The first one is that you want to raise as much money as possible so that you can continue operating company and potentially. Offsets and expenses and so forth so you have that. But at the same time you also need to be able to leave enough runway. For further growth okay. It's you know let's say that you had a situation where. MySpace priced its IPO to billion dollars and then all of a sudden just. Drops like rock they have done herself any favors in the long run because you companies you pretty much on the way down so. I look at Hoover's IPO. You know most valuations of had been between 65 and seventy billion dollars privately you know private valuations right. I struggle. To get to the point where I want to buy in Hoover at this point because. I don't know how much more they can keep up this growth I don't know. If the transition to self driving vehicles is going to be as quick as they need. And any photos gonna ask you DB wait until the speaking you know. Because they waited so darn long now I'm wondering if they don't weakness is self driving cars are here with the end depending on who you believe. Five to ten years right Ford is gonna have a fleet of them and by the way. Ford has a big office Silicon Valley and they are working very closely with both Google and movers so. They're gonna have a fleet of these cars on the road they're committed to this siege to hold their shareholders they will have a fleet of self driving cars on the road. 20/20 one let's let that's four years away track so it does over to say who will suck it up and wait until we get rid of all these drive. Worse. It may be too late by the you know could keep in mind who were lost in the estimation that I've just been looking opera somewhere between two and a half and three and a half billion dollars. I don't know if you can keep burning through cash that quickly keep getting new investors. Yet that any do you think they're gonna go sooner than later. I'd I would imagine that if they want to maintain the kind of valuation they have right now they've got to go in the next two years. So then what they need to do is raise enough cash to bridge the gap until they can go drive to what you figured and is. When you take a look at kind of how things play out so let's say that you raise a couple rounds of funding just to get you through that two year appear okay. Then your IPO you think you need to raise what another six to ten billion dollars to get it through another two. But let's say that you have hiccups with the driver was technology lets say that for whatever reason the legislation. Is available to allow these on roads and all fifty states let's say that you have trouble adapting them for different environments and things like that. All of a sudden. Yeah there's there's a lot of risk there if you if you are company that continues to lose billions of dollars at some point. That catches up to either you have to issue more shares and dilute your your holders at a greater level. Or you simply say look we're not doing this and were were close and up like that there's a lot of risk with Hoover's business model. Because of of where they need to get to in order to be profitable and I say this I I love the product that they've built from an end user experience. But the company got they they got to figure these things out at some point. You know you can write you can only lose money for so long race all right I get it so. The VD TV message though he's a two to three year window. I think it's too I don't think they can wait three. Despite money occasional missile in the predictions department gag at the bricks thing. Yeah I I got the adult something wrong in and you know chuck keeps tell me the Calvin Johnson things wrong but I don't think I hit a I think Calvin Johnson is gonna come out of retirement and and play for the patriots until he dies stick to my story. On and on that one but now I have yet another just to show that I'm brave and have broad shoulders I have yet another prediction. To share with Tucker who you know he knows a little bit about football. You're sort of thinks gonna happen talker. Democrats Johnny means zeal is going to be signed. By the patriots and I'll know and restaurants not going to trade bill Jimmy Iraq hello. To the Cleveland Browns and they'll get a host of drag the he would. DeWitt Bill Belichick has been doing is he told everybody yesterday or no country that means they are definitely. Then trade him in agony and hosted draft picks in sign means he'll. They'll make sure he overcomes his personal demons he's terrible quarterback. And and end and that's my prediction so that I guess put an hour chalk that up to a zero point 0% chance of happening. Really yes. There's a greater chance that Calvin Johnson plays for the patriots then Johnny men's jail and that's like zero point 1%. Well not only is he gonna give them a little bit more time out no no no. But yeah I mean to chime in alleys you re sign with his agent who he the agent fired them originally or I'll let him golf. He re up to Tommy's going to be attempting a comeback here but now which is not in a fit whatsoever with the patriots. Okay sorry. But he look I I'm not afraid to put it up there. Not particularly my predict a neighbor's back yeah absolutely Calvin Johnson has signed anywhere else does know he has since the that's odd. How many years has he been retired just one. One and a half to Somalia. But how many seasons in 11 season. Yeah once season I think that's actors of yup it's the cup it's the coma or couldn't. You know I every month. I created guide in it right to guide to make. Available to my audience and this month's guide for the month of march is. How to invest in rising interest rate in arm it. Chuck is on record and I tend to agree that we're gonna yet with the the different tiers truck victory adding it to interest rate hikes. In 2017 he's taken by that prediction truck to interest rate right yep I'm sticking with two. Can comment I'm at the three camp. He can't go to would have to elect football we can do you know over under two and a half. I'm oblong with three rate hikes I think they'll readies rates next week it is it down notes that next week after march yep it'll be the week after that Wednesday. Now. But a lot of viewer qwest could ask you what do I do how do light in best in a rising interest rate environment. What you wanna know I'll give you a phone number to call you call that number. Can't give you web site to go to as well be called the number and you can get a guy that will teach you how to invest. In a rising enter treatment arm here's the phone number it's 800. 393. 4001. That's 803934. Zeros or one. The big debate is whether rich or gonna or twice this year whether they're gonna vote three times this year I think that's they went up one time in 20151. Time in 2016. And the big question is is two times this year or is it three times this. You can get the web the article if you wanna download it right now you can go to financial exchange showed up comets on the home page financial exchange showed dot com to download the article. Or if you like if you're too old fashioned like me you won't talk to human being. You call pull free 803934001. Securities offered to securities America incorporated member finreg SIPC and advisory services offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. One billion dollars chock in tax refunds he's waiting to be clean. Yet this is a note from the IRS yesterday saying. They're currently hold a billion dollars. For approximately a million taxpayers who did not file a 2013 federal income tax return and the the median anticipated refund it varies based on the state okay. And so depending on the state that you're in. It is different amounts that are typically up there but if we go through all of the New England states here and I'll just go in alphabetical order so let's start with Connecticut. The average the median potential refunding Connecticut is about 846. Dollars there's 111500. People. In the state of Connecticut who have not claimed any of that money there. Continuing down the list next on the list is going to be the state of Maine their 4000 people there with an average refund of about 715. Dollars. Massachusetts. 23000 people. Average brief refund 838. Dollars New Hampshire. 4400. People in average refund of 892. Dollars still outstanding. What do we have left from on Rhode Island yup Rhode Island 2900 people with 796. Dollars being the median potential refund. In Vermont 2000 people with 747. Dollars being the median potential refund. So most of this money. By the way is owed to kids that are high school workers and college students in the these are people that worked. And you know they may have made three or 4000 dollars 5000 dollars 101000 dollars and they didn't know they are supposed to file a return because they're young and dumb and didn't. Didn't know nobody told them and so they're owed this money. Most of it never gets collected most of his refund just days in the IRS. The so I have a funny personal story about something similar actually not many people knows but my first job out of college actually spent two days working as a paralegal in Vermont. OK before I decided that I never wanted to be lawyer. And still actually on your part I actually they they actually pay me for the two days which was kinda mind blowing to me. But so I had to finally Vermont state tax return for that year. Why ended up getting it checked back from the state of Vermont for twelve dollars okay. And I went out its in Boston later that night. And I I didn't have enough money for to take a cab home so what I did is I signed that check over to the cabbie actually that twelve dollars. I don't know if you actually ended up cashing it. Bought. When he talked about you know a lot of people know college kids and so forth you didn't have twelve dollars I did not have twelve dollar. I hope you had fun I just started working I I was I was 88 oversight roping by. Chuck I hope she was worth it that's all I hope that I hope the only yeah. And he gets the young is dumb comes to mind now. Kids these days. Up next we'll have 330 do the answer we didn't get the trivia to have the answer number trivia. And we'll have a story about large hedge foe this co CEO stepping down that's next from our insurer match dot com studios. Follow the markets from start to finish and get our daily market recap every day at 5 PM on our new website financial exchange Joseph Johns come out this is the financial exchange or radio network. Hi this is very Armstrong did you know that the federal funds rate set by the Federal Reserve influences all other common interest rates the federal funds rate is the rate that banks use to charge one another to borrow money and while it's one of the lowest rates in existence it is rising observers expect additional rate increases in 2017 the Armstrong advisory group has written a free guide to inform you of the challenges that exists while investing in a rising interest rate environment if you have questions about how these rising interest rates might affect your financial strategy call 803934001. To get this free guide or download it at our website financial exchange showed dot com if you have over 400000 dollars in invest more assets you can set up an appointment for a free consultation with one of our advisors who can help you navigate this new rising interest rate environment that's 803934001803934001. Dirty suffer securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group mysterious American companies are unaffiliated. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insure a match agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars that that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers like you can qualify for -- insure a match to compare multiple rates and carriers and 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry Laker bella Plymouth rock and more. Their license for all types of insurance can save you time stress the money with just one phone call and one relationship. Call today 84499. Match or go online and ensure a match dot com. It's not too late to get a great raid on a whole mortgage leader banks specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in a win would a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917. To 900 that's 87769178900. Or visit leader bank dot com. Member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by your bank's local underwriting processing teams traditional information call 8776917. To 900 that's 8776917900. Or visit leader bank dot com. Member of the icy equal housing lender and Miller is number 449250. Subjective credit approval leader bank a step ahead state. An asset protection planning can be overwhelming where do you start and how do you know what type of trust is -- for you hi this is very are strong and I'd like to talk to you about the law -- of Cushing handle and they'd been creating a state plans for folks in New England for more than thirty years and they can help you -- with all the different types of -- available I can understand the confusion when it comes to a state planning do you need to -- global trust you need an irrevocable trust and what's the difference you -- an expert advice and -- -- dollars put together a free guide it will help you decide the best plan for you and your family you can receive this free guide the differences between -- global and irrevocable trust by calling 8668485699. They can even show you how it's possible to eliminate your state taxes while at the same time protecting your assets from creditors and long term care expenses caller right now and get this free -- 8668485699. That's 86684856990. Or download it right now from their website legal exchange -- dot com. Securities offered to securities America any member finreg SIPC advisory services arbiters securities America advisors think Barry Armstrong represented a Armstrong advisory group in the securities America companies are unaffiliated. Barry Armstrong chokes on George daily team for a comprehensive look at business and financial news on the financial exchange radio network. The first children's book that Dr. Seuss wrote and illustrated. And to think that I sought on mulberry street was rejected by over two dozen publishers before making needed to print in the year 1937. His first best seller the cat in the hat was published twenty years later in the year 1957. Track. And the winner on this question was John from Salem Massachusetts John takes home prize pack featuring two travel mugs to pens. And the financial exchange teacher and our trivia contest has brought to you. By insurer match looking to update your insurance policies one call with insure a match will give you multiple quotes from several of the top carriers. And will help you make the right decision for your insurance needs call ensure match today at 84499. Match that's 844. 99 match or visit them online at insure a match dot com. Snap jab by the way chuck has broken out over 25 dollars a share now I got it it looks like 2515. Apollo 47% I do with how high did we see that goes like. He sort often like a high 24 turned. Yet started off their mean it's it's hard to say where you're gonna see it move over the course of the day sometimes these things tend to run up significantly over the course of the day. Yes sometimes it's a case where it short lived and all of a sudden you start and write down so I generally. I tend to stay away from IPOs during those first few months trading. So some like this it would be bad played just let this thing settle for what 69 months see how they do for two quarters I mean I wanna see how they do in terms of sales are because that. The valuations on this thing. Assuming that they're like doubling and tripling their sales revenue quarter after quarter after quarter. Yeah I mean it's you know when you're talking about pricing the company now act. You know 25 dollars a share you know all of a sudden you're talking about a company that has a market cap in the tens of billions of dollars that the market caps like thirty billion dollars now. That's steep for a company that sells disappearing pictures. Dow Leo they are about what what I just said there this company sells something that no longer exists after ten seconds. Like it's literally it's into the after it's gone. Kind of like a radio that pretty much out. It's gone. Hey I wanted to get the story about rape Galileo that ray is somebody who I've admired for many years. He is the was the CEO. Of Bridgewater associates which is hedge fund at a Westport Connecticut it. And I mean the guy date with the electric guy or not I know he's got some personality quirks. But he's done one heck of a job as a hedge fund manager Eddie 67. He stepping down. Yeah he has done an outstanding job there has built. You know again just a massive company with a haunt of incredibly Smart people there is his book on principles that guide birds water's been you know. Pretty much sent out to just about everyone in the business world it's a phenomenal. Book actually if you get a chance to read through it. But he is going to be stepping down there the next co chief executive Timmy David McCormick who opt previously was a Treasury Department official. Under George W. Bush. And he is going to. He's previously been Bridgewater president's who has been there for a little while now. But obviously. Ree Dolly is stepping down as that co CEO. Is going to be a shift work. Well it is media day but he you know he did a great job at it at 67. You know eat eat your probably it's it's time to hang up you know it it's it's probably. You're you you packed your best days are behind you in terms of being the CEO. Just my opinion yeah. Roche shares are boosted by cancer drugs I just took that pulled the stock up. The if you own shares in this congratulations. Roche holding 262 dollars a share up sixteen dollars a share sounds like they're having some success with a breast cancer drug. Yet every success with dot aide drug. That is effectively going to try to boost their cancer portfolio. Simply because they have some competition has been encroaching. On some of their other drugs here that are already in the that are that have already been ruled out here and so what you're seeing. Is that this trial just again helped give them another potential patent. In that can't or portfolio as they seek to try to really grow that it's been an area that's been a key focus for them. And they are seeing some success here and so obviously any time that you could potentially get a new patent. On a drug especially in that area. You know it's it's it tends to move things around a little bit Roche holding up 6% on this news. What is it and you know that's they had a global company your ethnic or that it's Switzerland. I believe so that sounds right off the top in my head yet they're being based out of Basel. You know this was company so. Anyway. Market not rallying today but heck it was a 300 points yesterday nickle every day the Dow is down 38 points at 21076. Shocks ought to Tucker so what NB bury our travel and thank you for stopping by the financial exchange today. We'll see you tomorrow right here on your favorite station.