>>> HEY, THIS IS HOMESTRETCH
TIME.
I TELL YOU SOMETHING, I’M SAYING
THAT THE DIP BUYERS ARE BACK.
MORE IMPORTANTLY, WHAT WE HAVE
IS A CONSTRUCTIVE MARKET IN THAT
WE’RE ROTATING IN AND OUT OF
AREAS THAT CAN SOLD AND COME
BACK.
TODAY IS OUR DAY.
WE HAVE A NUMBER OF SOFT — A
NUMBER OF SOFT GOODS COMPANIES
THAT ARE DOING WELL AND WE HAVE
OIL.
I KNOW MAYBE YOU WANT TO TALK
ABOUT THE TRADE WE SUBSEQUENTLY
FOLLOWED UP AFTER WE GAVE OUR
MORNING MEETING.
>> SURE.
SO WE SENT OUR ALERT, WE’RE
BUYING ESTEE LAUDER, IT WAS
AROUND 248 WHEN THE TRADE WAS
OUT.
WE SOLD 40 SHARES EARLIER THIS
YEAR IN THE 260s.
THE STOCK HAS BEEN PRETTY MUCH
STRAIGHT DOWN FROM 280 WHEN THEY
REPORTED EARNINGS.
YES, IT WAS A GOOD BEAT WHEN
THEY REPORTED.
SOME OF THAT WAS GOOD COST
CONTROL, FX EASING.
THEY GUIDED THE NEXT QUARTER
DOWN WELL BELOW CONSENSUS.
THIS HAD TO DO WITH THE
NORMALIZATION OF SOME INVENTORY
AND SOME THINGS HAPPENING IN
SOUTH KOREA.
IT’S A TEMPORARY ISSUE.
>> I TALKED WITH PATRICE AND HE
RUNS RALPH LAUREN, THEY HAVE
SOME REAL LIFT IN THE LAST FOUR
WEEKS.
I THINK THAT WILL SPREAD.
IT’S VERY HARD TO IMAGINE
DRESSING UP AND NOT HAVING THE
KIND OF COSMETICS THAT ESTEE
LAUDER SELLS FROM CHINA.
I SAY THIS IS A GOOD
OPPORTUNITY.
ADMITTEDLY WE MAY HAVE TO BUY
MORE BECAUSE THE STOCK TRENDS IN
ONE DIRECTION AND PIVOTS
RADICALLY IN THE OTHER.
WHAT’S WORKING?
WE KNEW WHEN OIL STABILIZED IN
THE MORNING WHAT WOULD HAPPEN IS
THEY WOULD GO FOR OUR FAVORITE,
PIONEER.
JEFF AND I WERE JUST DISCUSSING
AS I WAS STUFFING MY FACE
BECAUSE IT’S MY BIRTHDAY.
IT’S BEEN A REMARKABLE DAY FOR
THE STOCK.
>> GOOD TO SEE SOME STRONG MOVES
THERE.
DEVON AS WELL, THEY REPORT NEXT
WEEK.
EVEN COTERRA, WHICH IS MORE OF
THE NAT GAS PLAY, THAT BACKED UP
TO ALMOST 25 BUCKS.
AND HALLIBURTON, WHICH IS ALSO
ONE OF THE BEST WAYS TO PLAY OFF
OF THE NEEDED INVESTMENT IN THE
INDUSTRY.
YOU TALKED ABOUT SOME OF THE
SOFT GOODS, THINGS LIKE CONSUMER
PACKAGING.
>> YOU HAVE TO UNDERSTAND THE
WAY I WORK.
I SAID IN THE CHAT 100 TIMES
TODAY.
PEPSI, HOW COULD WE BE SUCH
IDIOTS NOT BUYING PEPSI.
YOU BEAT YOURSELF UP SO YOU MAY
LOSE THE NEXT OPPORTUNITY.
I MOVED ON FROM IT AND NOW
QUALCOMM.
THESE ARE ALL BAD TRADES.
LIKE THE OLD GOFUS OF GOFUS AND
GALLANT.
PEOPLE ON TV NEVER SAY I SCREWED
UP.
THAT IS OF NO HELP TO YOU.
IF YOU THINK THERE’S PEOPLE ON
TV THAT DO IT PERFECTLY AND YOU
DON’T DO IT PERFECTLY, YOU WILL
PROBABLY WANT TO GIVE YOUR MONEY
TO IT.
OUR GOAL IS TO GIVE YOUR MONEY
TO YOURSELF.
A COUPLE STOCKS WEIGHING ON THE
MARKET, EXPEDIA, THAT’S LOWER
TRAVEL.
HIGH-END TRAVEL REMAINS STRONG.
TESLA, THAT’S INVOLVING
CHARGERS.
INTERESTING.
ETSY.
ETSY IS A PRETTY GOOD STOCK.
>> LOOKING AROUND THE MARKET
TODAY, GOOD TO SEE HEALTH CARE
NAMES BOUNCING.
HUMANA, ELI LILLY.
BOTH UP ON THE WEEK.
I’M ENCOURAGED BY THAT.
THEY HAD SUCH A BAD START.
WE’VE ADDED TO BOTH THIS YEAR.
ELI LILLY MORE RECENTLY AFTER
THE POST EARNINGS SELLOFF.
GOOD TO SEE THOSE — THE STRONG
FUNDAMENTALS THERE GET BACK IN
FOCUS.
>> I HAD A CALLER LAST NIGHT ON
ELI LILLY, WHAT OFTEN HAPPENS,
YOU GET A STOCK ROARING AND
PEOPLE PICK SOME UP AND IT HAS A
QUICK DIP DECLINE.
THE WAIT YOU HANDLE THOSE IS
KIND OF LIKE WE’RE HANDLING WITH
ESTEE LAUDER.
IF YOU HAVE CONVICTION, YOU KNOW
YOU HAVE THE RIGHT MOMENTUM TO
BUY.
REMEMBER, HERE’S THE AMAZING
THING ABOUT LILLY.
IT TRADES LIKE THIS.
IT JUST TRADES LIKE THIS.
IT HAS THESE HUGE DECLINES.
THEY’RE LOOKING AWFUL.
YOU THINK THAT, DAMN, WHY DIDN’T
I SELL?
THE ANSWER IS, NO, THAT’S THE
WAY LILLY TRADES.
A GOOD GROWTH STOCK TRADES LIKE
THAT.
WE WENT OVER THE OILS.
WHAT DO YOU THINK ABOUT THIS
DANAHER?
>> I THINK IT’S OVERSOLD.
SOME OF IT — SOME OF THE RECENT
SELLING MAY HAVE BEEN ON THIS
REPORTED INTEREST ON CATALYNT.
MAYBE WE HEAR NEWS ARE THEY
REALLY INTERESTED?
BOTH COMPANIES —
[ NO AUDIO ]
I THINK ONE OF THE HIGH QUALITY
NAMES IN THE ENTIRE WORLD REALLY
HAS REALLY GOOD — THEIR
BUSINESS, A LOT OF IT HAS TO DO
WITH CONSUMABLES.
A LOT OF IT IS RECURRING
REVENUES.
THAT’S JUST THE TYPE OF BUSINESS
THAT I LIKE TO BE INVESTED IN
BECAUSE IT’S DEPENDABLE.
WE WERE RESTRICTED EARLIER.
I’M INTERESTED IN BUYING.
>> THERE WAS A STORY TODAY IN
THE “JOURNAL” ABOUT HOW THE
BIOTECH COMPANIES ARE DRYING UP.
PEOPLE WILL SAY THE BIG CUSTOMER
IS DANAHER.
THEY’RE JUST ICING ON THE CAKE.
I’M WITH YOU.
I WANT TO BUY SOME.
BOTTOM IS EASY TO UNDERSTAND
NVIDIA IS THE HOTTEST STOCK IN
THE MARKET.
IF YOU TRADED NVIDIA, YOU WOULD
HAVE SOLD IT 50% DOWN FROM HERE.
IF YOU SELL IT NOW, I GET THAT.
THERE’S A KEYNOTE ADDRESS IN THE
THIRD WEEK OF MARCH WHERE THE
CEO WILL TALK ABOUT THE NEXT
GENERATION OF ChatGPT.
HE IS ChatGPT.
HE WROTE THE PROGRAM.
HE WROTE A LOT OF THEM
PERSONALLY.
THAT WAS HIM.
>> INTERESTING.
>> THEY’RE CODED.
THEY’RE NOT COMPUTER GENERATED.
IMAGINE PEOPLE SAYING I WANT TO
PAINT THIS OR I WANT TO DO THAT.
IT’S GOING TO BE REMARKABLE FOR
INDUSTRIAL USES, TOO.
>> ALL THESE COMPANIES HAVE BEEN
WORKING ON THEIR AI PROJECTS FOR
YEARS.
THEY’VE INVESTED I WOULD ASSUME
A LOT OF MONEY INTO THIS.
IT’S ALL HAPPENING NOW.
WE’RE SEEING IT GET UNVEILED TO
THE PUBLIC.
YEAH.
DEFINITELY IN THIS AI ARMS RACE,
IF YOU WILL, PICK AND SHOVEL
PLAY.
THE GOLD RUSH.
THE PICK AND SHOVEL PLAY LIKE
NVIDIA WILL BE THE LONG-TERM
WINNER.
>> CRM HAS BEEN UP A GREAT DEAL.
I ALWAYS SAID ONE OR TWO OF
THESE ACTIVISTS WILL JUST RING
THE REGISTER.
IT FEELS LIKE THAT’S WHAT’S
HAPPENING.
WE WON’T KNOW UNTIL AFTER.
AMD ALWAYS LINKED TO THE —
>> THEY ALL HAVE HAD BIG RUNS.
ALL THE STOCKS DOWN TODAY HAVE
HAD BIG RUNS.
DISNEY, WHICH WE’RE EXCITED
ABOUT FOR CLUB MEMBERS WHO HAVE
NOT GOTTEN IN.
BOB, I’VE KNOWN BOB IGER SINCE I
WAS ON “GOOD MORNING AMERICA.”
I DATE BACK TO 1998 WITH BOB.
HE WAS INSTRUMENTAL IN MY
CAREER.
THERE’S NOT A DOUBT THAT HE
IS — I KNOW THIS MAN.
THIS MAN IS LASER FOCUSED.
THAT IS, I KNOW, A TAWDRY
OVERUSED TERM.
HE IS.
HE WANTS TO SHOW BEFORE HE GIVES
THE REINS OVER TO A NEW CEO IN
TWO YEARS THAT HE HAS THIS THING
RIGHT.
HE’S VERY MOTIVATED.
KIND OF LIKE JALEN HURTS WHEN HE
WAS PULLED FROM ALABAMA IN THE
CHAMPIONSHIP.
QUALCOMM IS THE CHEAPEST STOCK
WE HAVE IN TECH.
IT’S HAD A BIG RUN.
I GET THE SELLOFF.
I WENT BACK AND FORTH WITH JEFF
ABOUT SELLING 135.
THAT’S THE WOULD HAVE, SHOULD
HAVE, COULD HAVE THAT DOES NOT
HELP ANYONE.
>> WE SOLD SOME AT 133 EARLIER
IN THE WEEK, MONDAY.
YEAH, WITH IT AT 128, SHOULD
HAVE SOLD MORE.
>> OVER THE WEEKEND, WE HOPE
EMERSON REACHES A CONCLUSION TO
BUY NATI.
BOTH OF THEM WOULD BE GOOD.
NATI DO NEED — I HOPE THEY GET
IT, BUT IF NOT WE’LL REASSESS
AND THINK WHAT TO DO.
MY INCLINATION IS THE CORE
BUSINESS IS DOING BETTER THAN
THE STOCK IS.
I DON’T KNOW IF YOU AGREE WITH
ME.
IT’S NOT SO BAD.
>> YEAH, LOOK.
THEY MISSED ON THE QUARTER DUE
TO SOME NON-OPERATING ITEMS.
THEY MAINTAINED THE FULL-YEAR
GUIDE.
WHETHER YOU MISS ON NONOPERATING
ITEMS OR NOT, I DON’T LIKE IT
WHEN YOU GIVE A GUIDANCE AND YOU
FALL BELOW GUIDANCE.
THAT’S NOT HOW I LIKE COMPANIES
TO DO THINGS, EVEN IF THERE WERE
FACTORS OUTSIDE OF YOUR CONTROL,
I’M NOT A FAN OF IT.
>> I AGREE WITH YOU.
HOPEFULLY THERE WILL BE OTHER
DEALS AND THAT’S WHY WE’RE
LOOKING AT CATALYN.
I WANT TO WISH EVERYBODY FROM
PHILADELPHIA GOOD LUCK THIS
WEEKEND.
SUNDAY IS A PHILLY THING.
I LIKE THIS MARKET VERY MUCH.
I WILL GO INTO THAT AGAIN
TONIGHT ON “MAD MONEY.”
JEFF MARKS AND I WISH YOU THE
BEST OF WEEKENDS.
THANK YOU.