What's up, Apes? Welcome back to the Daily Peels video stream slash podcast of the day.

My name is David. It is currently at 758 p.m. on this beautiful Tuesday, July 9, 2004. Thank you all for joining us.

Solidate for markets out there. Thanks to our boy Jerome Powell, which we'll be talking about in just a quick second. That's our big story of the day. He was out there, spend some game on Capitol Hill as always. He had his, you know, I think his secret admirer, Elizabeth Warren was roasting him a little bit more than usual. So we'll get into all that in just a quick second of what that means for markets, your portfolio and most of all your wallet. But before we do so, let's talk about our collective portfolio, the WSO Alpha portfolio. You better go subscribe to that if you haven't already. I mean, it's completely, it's a slap in the face to me every day that goes by that you don't subscribe, especially today because we actually just published our first sell report on a stock. and of course, it was up on the day. Probably because people are just gearing up to short it. I can only imagine after seeing our analysis. It is a cannabis stock as well. So take a not necessarily a contrarian view, but a little bit different of a view on the outlook for cannabis stocks going forward. So make sure to subscribe to Alpha if you

want to read that research. We got another piece coming at the end of this month on a company

that I think a lot of you will enjoy quite a bit. Here's a hint for those of you watching the

video, but they make this product right here that we've been writing about a good bit recently.

Anyway, before I step on more about content, let's go ahead and talk about what Alpha did today, up 0.16%. Completely embarrassing the S&P 500, which was up only a puny, pathetic, embarrassing seven basis points. I couldn't even show my face if I was one of those S&P 500 stocks today. The NASDAQ, yeah, it was up 18 basis points, whatever. Fuck that. They beat us, whatever. They're both still beating us on a year-to-date basis, but still, I don't cry myself to sleep about it whatsoever. So whoever said that I do, you couldn't be more wrong. Anyway, before I do start crying, let's move into some of the banana bits. Like I said, Chair Powell was spit some game on Capitol Hill today. He really set the stage for cutting rates. We'll talk about exactly why in just a minute. Moving on, housing inventory is finally moving in the right direction. And of course,

by that, I mean, it's moving up into the rights. We're actually growing housing inventory with a ton

of new homes coming onto the market. Obviously, my dumb ass finally got an offer on a house accepted.

So I officially will not be homeless after September 8th when my lease ends here at the current Daily Peel Global Headquarters.

And we head to the new Daily Peel Global Headquarters up in the Northeast. So obviously just had to work out like that.

I'm sure prices are going to plummet. Rates are probably going to go down and asteroid might hit the Earth and make this all moot.

And I'll still be fucking bankrupt somehow. I'm sure that'll be how it goes. Anyway, let's move off of housing for a quick second and go back to the stock market because Morgan Stanley CIO woke up this morning and decided to just be a fucking hater. He basically came out here, came out here and said that he expects the S&B 500 to fall a solid 10% heading into

the U.S. election. I can't imagine why. I mean, we have two great young bucks spring chicken

candidates both ready to lead the nation and definitely not press the nuclear button in an

Alzheimer's dementia-ridden fit or anything. So I don't know why he could possibly feel like that.

And finally, corporate bankruptcies are on the rise. Maybe that's why he feels like that because companies are apparently doing pretty rough. So definitely not a perfect scenario going on. We'll be talking about bankruptcies more later on this week. And I'm pretty excited about it because it's going to be an interesting story. But let's go ahead and move on into our main story of the day. We're talking

about the roast of Jerome Powell. Now, I'm sure a lot of you recently watched the Roast of Tom Brady on Netflix. That's a tough one to do after winning seven Super Bowls, going to like 11 Super Bowls, I think, in total. I'm a Patriots fan. I should know that shit, but I don't count the buck seasons.

He's dead to me after he left New England.

I mean, he had a 13-year marriage to literally the most famous supermodel in the entire world, a woman that actually made more money than he did. He's made over half a million dollars. He has a beautiful family. And still, everybody was roasting him. Now, the roast of Jerome Powell is a whole lot easier. So that's why they had a lot of

comedians come in and roast Tom Brady. They needed professionals to get the job done. For Jerome Powell, they could take the idiot senators, basically the dumbest people in the United States come out there and roast him. And it went pretty damn well, especially because the market was up on the day. Yields moved lower, which depends on, you know, your basically how much money you have.

How do you feel about that kind of stuff?

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