| in 2022. | 3.44 | Jump to 18.48 |  |  | 
              
                
                  | there um we're wrapping up the first | 4.96 | Jump to 48.239 |  |  | 
              
                
                  | week of trading 2022. um where did where | 5.12 | Jump to 50.0 |  |  | 
              
                
                  | does the market stand after this first | 2.721 | Jump to 53.199 |  |  | 
              
                
                  | well the big story for 2020 you know the | 5.6 | Jump to 55.92 |  |  | 
              
                
                  | big story for 2021 was navigating um the | 5.279 | Jump to 57.76 |  |  | 
              
                
                  | 2022 is the withdrawal stimulus you know | 4.399 | Jump to 67.76 |  |  | 
              
                
                  | back to 2009 federal reserve has been | 4.079 | Jump to 78.08 |  |  | 
              
                
                  | think the big story for 2022 so far | 4.32 | Jump to 101.52 |  |  | 
              
                
                  | 3.9 | 4.961 | Jump to 123.119 |  |  | 
              
                
                  | stocks oil's at 80 today | 4.64 | Jump to 172.959 |  |  | 
              
                
                  | bit um but first i wanted to get your | 4.48 | Jump to 234.72 |  |  | 
              
                
                  | the last three years are crazy i mean i | 4.72 | Jump to 257.759 | 
                      
                        
                      
                        DATE
                      
                      
                        the last three years
                      
                     |  | 
              
                
                  | think we were 27 up in the s p 500 last | 5.04 | Jump to 259.84 |  |  | 
              
                
                  | crisis since 2009 the s p 500 is up an | 6.4 | Jump to 264.88 |  |  | 
              
                
                  | average of 15 a year is that a little a | 5.201 | Jump to 268.479 |  |  | 
              
                
                  | the s p 500 for the last almost hundred | 6.32 | Jump to 273.68 | 
                      
                        
                      
                        DATE
                      
                      
                        the last almost hundred
                      
                     |  | 
              
                
                  | years has has been a price gain eight | 6.24 | Jump to 276.0 |  |  | 
              
                
                  | nine percent somewhere around there | 3.759 | Jump to 280.0 |  |  | 
              
                
                  | that's the average if you throw in a two | 3.44 | Jump to 282.24 |  |  | 
              
                
                  | percent dividend it's ten percent or | 3.521 | Jump to 283.759 |  |  | 
              
                
                  | eleven but | 3.76 | Jump to 285.68 |  |  | 
              
                
                  | you know eight or nine versus fifteen | 4.8 | Jump to 287.28 |  |  | 
              
                
                  | percent that's extraordinary for 13 | 4.64 | Jump to 289.44 |  |  | 
              
                
                  | returns for the last 13 years so there's | 4.559 | Jump to 294.08 |  |  | 
              
                
                  | trending down for 20 years | 3.68 | Jump to 323.68 |  |  | 
              
                
                  | going to get a you know 2.5 mortgage | 4.64 | Jump to 327.36 |  |  | 
              
                
                  | already up to three three and a quarter | 3.199 | Jump to 332.0 | 
                      
                        
                      
                        CARDINAL
                      
                      
                        up to three three and a quarter
                      
                     |  | 
              
                
                  | a lot but if the ten year goes from one | 4.08 | Jump to 343.52 |  |  | 
              
                
                  | and a half percent to and it's three | 3.12 | Jump to 345.919 |  |  | 
              
                
                  | you're not going to have 15 20 increases | 3.919 | Jump to 363.84 |  |  | 
              
                
                  | you know your home to appreciate 15 or | 3.599 | Jump to 375.44 |  |  | 
              
                
                  | 20 this year i would moderate that | 4.16 | Jump to 377.039 |  |  | 
              
                
                  | kinds of returns in 2022 i still think | 3.84 | Jump to 394.72 |  |  | 
              
                
                  | 27 like it was last year | 6.359 | Jump to 400.96 |  |  | 
              
                
                  | i wouldn't bet on that one | 3.879 | Jump to 403.44 |  |  | 
              
                
                  | in 2022 well the thing about the stock | 4.72 | Jump to 414.4 |  |  | 
              
                
                  | hershey bar is a dollar and suddenly one | 6.801 | Jump to 434.319 |  |  | 
              
                
                  | year it's a dollar five the market could | 4.8 | Jump to 438.0 |  |  | 
              
                
                  | thirty you know you're going to get | 4.239 | Jump to 448.24 |  |  | 
              
                
                  | to abate in the first half of the year | 4.0 | Jump to 477.44 | 
                      
                        
                      
                        DATE
                      
                      
                        the first half of the year
                      
                     |  | 
              
                
                  | inflation what's moderate two three four | 4.479 | Jump to 497.84 |  |  | 
              
                
                  | a dollar to a dollar five that's one | 2.56 | Jump to 520.08 |  |  | 
              
                
                  | dollar 30 people are going to push back | 3.52 | Jump to 522.64 |  |  | 
              
                
                  | so let's dive into one big tech stock in | 6.24 | Jump to 553.2 |  |  | 
              
                
                  | market cap of three trillion dollars is | 5.519 | Jump to 559.44 | 
                      
                        
                      
                        MONEY
                      
                      
                        three trillion dollars
                      
                     |  | 
              
                
                  | right now for about 30 times forward | 4.4 | Jump to 605.2 |  |  | 
              
                
                  | market is paying 30 times 2022 apple's | 7.04 | Jump to 620.0 |  |  | 
              
                
                  | 20 times forward earnings forward | 4.241 | Jump to 631.519 |  |  | 
              
                
                  | um maybe got up to 22 or 23 somewhere | 5.12 | Jump to 636.8 |  |  | 
              
                
                  | 100 you know or 200 | 4.48 | Jump to 697.44 |  |  | 
              
                
                  | risk-free investment one and a half | 3.68 | Jump to 724.24 |  |  | 
              
                
                  | percent a ten-year bond ten-year | 2.719 | Jump to 726.24 |  |  | 
              
                
                  | treasury bond will pay you one and a | 2.96 | Jump to 727.92 |  |  | 
              
                
                  | half percent a year at the end of 10 | 3.601 | Jump to 728.959 |  |  | 
              
                
                  | say i'm going to get 100 apple for the | 2.64 | Jump to 738.8 |  |  | 
              
                
                  | next 10 years you can make the | 2.961 | Jump to 740.399 |  |  | 
              
                
                  | now suppose the 10-year treasury yield | 5.12 | Jump to 747.12 |  |  | 
              
                
                  | goes one and a half to three percent | 3.6 | Jump to 749.44 |  |  | 
              
                
                  | think that's quite possible well three | 4.479 | Jump to 757.6 |  |  | 
              
                
                  | risk i could get three percent risk-free | 5.2 | Jump to 769.04 |  |  | 
              
                
                  | in the 10-year treasury well because i'm | 3.44 | Jump to 774.24 |  |  | 
              
                
                  | apple's returned more than three percent | 3.52 | Jump to 777.68 | 
                      
                        
                      
                        PERCENT
                      
                      
                        more than three percent
                      
                     |  | 
              
                
                  | are getting hit eight nine ten percent | 4.72 | Jump to 813.44 | 
                      
                        
                      
                        PERCENT
                      
                      
                        eight nine ten percent
                      
                     |  | 
              
                
                  | worth paying 100 times | 3.12 | Jump to 875.44 |  |  | 
              
                
                  | more reliant we are in the past two | 4.08 | Jump to 906.8 |  |  | 
              
                
                  | two years out from now how much more | 4.959 | Jump to 910.88 |  |  | 
              
                
                  | thoughts on crypto in 2022 | 7.279 | Jump to 926.8 |  |  | 
              
                
                  | is one of the most important | 4.0 | Jump to 936.639 |  |  | 
              
                
                  | technological advances of the last 50 | 5.599 | Jump to 938.24 |  |  | 
              
                
                  | i you know have been for 32 years at | 5.279 | Jump to 976.8 |  |  | 
              
                
                  | cnbc and 25 as the stocks correspondent | 4.0 | Jump to 979.36 |  |  | 
              
                
                  | picking year one year two year three | 3.279 | Jump to 1004.24 |  |  | 
              
                
                  | these rock posters for 30 years they | 3.359 | Jump to 1030.48 |  |  | 
              
                
                  | is bitcoin worth fifty thousand dollars | 4.48 | Jump to 1050.48 | 
                      
                        
                      
                        MONEY
                      
                      
                        fifty thousand dollars
                      
                     |  | 
              
                
                  | three percent you know vig the jp morgan | 5.6 | Jump to 1096.24 |  |  | 
              
                
                  | 2022 so i i'm afraid we're going to do | 4.4 | Jump to 1202.0 |  |  | 
              
                
                  | 2022. that's my guess | 3.44 | Jump to 1208.08 |  |  | 
              
                
                  | so our last question is one that | 4.079 | Jump to 1212.96 |  |  | 
              
                
                  | looking to get investing for the first | 4.0 | Jump to 1218.72 |  |  | 
              
                
                  | first time | 2.641 | Jump to 1224.559 |  |  | 
              
                
                  | the one thing that we have known for | 4.08 | Jump to 1232.0 |  |  | 
              
                
                  | money in the market if you're 25 years | 4.159 | Jump to 1241.76 |  |  | 
              
                
                  | old or 30 years old you're going to live | 5.121 | Jump to 1244.159 |  |  | 
              
                
                  | 60 more years it is a silly question to | 4.24 | Jump to 1245.919 |  |  | 
              
                
                  | i'm 25 oh maybe the market will go down | 4.961 | Jump to 1250.159 |  |  | 
              
                
                  | three out of four years | 3.44 | Jump to 1257.84 |  |  | 
              
                
                  | about this 10 years from now the key is | 4.639 | Jump to 1261.28 | 
                      
                        
                      
                        DATE
                      
                      
                        this 10 years from now
                      
                     |  | 
              
                
                  | financial adds is the s p 500 | 5.839 | Jump to 1310.96 |  |  | 
              
                
                  | etfs that track the s p 500 uh vo which | 6.08 | Jump to 1317.76 |  |  | 
              
                
                  | is a vanguard one you know they they | 4.56 | Jump to 1321.76 |  |  | 
              
                
                  | charge three basis points a year that's | 4.64 | Jump to 1323.84 |  |  | 
              
                
                  | three dollars for a ten thousand dollar | 4.239 | Jump to 1326.32 | 
                      
                        
                      
                        MONEY
                      
                      
                        ten thousand dollar
                      
                     |  | 
              
                
                  | can own essentially 80 of the stock | 3.921 | Jump to 1330.559 |  |  | 
              
                
                  | you're a genius just pick stocks take 10 | 5.199 | Jump to 1351.6 |  |  | 
              
                
                  | the market is a zero-sum game | 3.92 | Jump to 1378.08 |  |  | 
              
                
                  | make three percent on your investments | 3.44 | Jump to 1382.0 |  |  | 
              
                
                  | genius somebody has lost three percent | 3.8 | Jump to 1386.84 |  |  | 
              
                
                  | you know if the s p went up five percent | 3.2 | Jump to 1396.0 |  |  | 
              
                
                  | and you went up seven percent | 4.719 | Jump to 1399.2 |  |  | 
              
                
                  | the whatever one percent | 4.479 | Jump to 1410.32 |  |  | 
              
                
                  | go ahead take 10 | 4.64 | Jump to 1432.159 |  |  | 
              
                
                  | go look at the s p 500 spiva report | 5.441 | Jump to 1454.799 |  |  | 
              
                
                  | over a 10-year period | 4.56 | Jump to 1464.4 |  |  | 
              
                
                  | 85 percent of all fund managers | 6.56 | Jump to 1466.32 |  |  | 
              
                
                  | underperform their benchmark 85 | 6.24 | Jump to 1468.96 |  |  | 
              
                
                  | 500 the reason that's happening is more | 5.119 | Jump to 1521.44 |  |  |