9/3/26 Nvidia's Big AI Move, Money Basics & Reverb Gives Back

0:00Live from the basement inside the historic wars building in downtown Bakersfield. Call it text in at 661 396 1000. I need a dollar, dollar, dollar is what I need. Hey, hey, well I need a dollar, dollar, dollar is what I need. Hey, hey, till I need a dollar, dollar, dollar is what I need. And if I share with you my story, will you share your dollar with me? Securities offered through LPL Financial, member, FNRA, SIPC, investment advisory services offered through LPL Financial. LPL Financial and Moneywise Law Management are independently owned and operated. Now, let's start the moneywise show. That's right, this is the moneywise show. Welcome, we are live from the basement of the historic wall worth building in downtown Bakersfield. For the next hour, you are on NewsTalk 961 and 1238M. KERN Streaming Live always, well not always, but I guess every day at this time,

1:01moneywiseguys.com is a good way to click in and listen live. And you also can listen anywhere you do podcasting. So I'm your host today, Chris Pelster with. Dustin Weaver. Mr. Dustin Weaver. Yes, we don't get to be on the show all that much. Not awesome enough. Luckily, Mr. Steven is always over there with us in studio and making things happen. So excited about today's show. We have some good questions that came in that are going to educate some folks and help out. And then we also have a couple of guests. They're not necessarily strangers. I've never been on them with the on the radio show or whatever. But we have a couple of guests from the old coffee shop upstairs. They have an event coming up. So they're going to come in and share a little bit about that. But if you haven't had a reverb coffee, it's worth your time. I've had a couple this week. You guys, you guys amaze me. You guys, how many of it? You and Seth, he's trying to get a coffee named after himself. It's getting a little bit ridiculous. But you know, we'll just, I mean, the coffee is good.

2:03I can't complain. So you guys are what make the show great though. You can call or text a show 24 hours a day. You can send in your message, 661, 396, 1000. Obviously, we love live calls. If you got a question or a comment on anything we're talking about. And so we're definitely going to do what we do. We're going to talk about the markets. We're going to give a little bit of an update, kind of a crazy day on the markets. Definitely the tech world and AI and chip manufacturing world kind of blew up today. And it's been positive there for the markets. So we'll talk about that a little bit. Lots of green. But I want to talk about the local news right here. Talking about the Woolworth building. What is talking about the Woolworth building? What did you see? We're going to have a new neighbor. And it's a neighbor that's near and dear to my heart. Well, who is it? The portrait of a warrior gallery is moving down the street from where they currently are. And they're going to be Woolworth's money wisest new neighbor right here on K Street.

3:04And 19th. Is that where the furniture store was? The furniture store has closed down. And there was murmurings about this possibly happening. I know portrait of a warrior gallery is very excited because having a little bit more space, which opens up higher capacity, they are going to definitely be able to handle. What's the thing you go on as a kid when you're in school? They take you in the bus. Oh, I called the field trip. Field trips. They could not even handle a field trip at the old location because only so many people could be in the building at a time because of capacity. So those that don't know what is. Portrait of a warrior. How would you describe it? Yeah, it's it's a way that we honor our fallen that have passed away in service in war going back to 2001, I believe, since 9-11. So obviously lots of local folks have unfortunately been lost in war prior to that. World War One, World War Two. And Vietnam and in other conflicts, you know, we had locals.

4:06So we honor all of them, but in the portrait of a warrior gallery, it's the folks that have passed away in combat since 2001. So I believe there's 14 individuals. Don't quote me on that. It may be 18. I don't know why I can't remember exactly. Jeff Salchers will be joining us next Thursday. Well, there you go. He's going to talk all about it, but it's near and dear to my heart because we were affected by veterans suicide in our family. My brother-in-law came back from his service and struggled to find his way and dealt with some of the things that veterans deal with and made that decision. And there's a part of portrait of warrior gallery that also sheds light on that, trying to make a difference and get people help who need it. So there's the 14, but then there's a whole another group that you're mentioning. There's ones that have been impacted by some of the wounds and the scars of war beyond that. There's also a Vietnam section. There's a dog tag section that they have a display that shed lights on MIAs.

5:09Missing an action who haven't come home. And then they even have like a thing set up to kind of mimic a bunker or I guess a bunk that you would be in if you were actually over in Afghanistan. And so it's just a cool way to shed light on some of our local heroes. And so I've been involved with them and known about their what they're doing for veterans local. And so now they're going to have twice as much space. There's a downstairs next door. They're going to have more capacity. Be able to handle field trips for students that can go in and learn a little bit about some of our local folks and shed light on those things. And hopefully, you know, it's great. And I think it's a great name for us. I'm very excited about that. So very cool. Portrait of a word gallery is going to be moving next door here. It was the Mi Casa furniture store at 19th and K. And now it's going to be right across the street. I think it's just going to be, you know, again, we wanted to be part of downtown. Getting fixed up and, you know, be considerate of unfortunately, everybody knows homelessness is a situation.

6:15We want to try to be a positive movement in helping those folks get, get needed help in those different things and be part of the solution for this issue in our, in our community. And I think the ball is rolling. So kudos to shared an Emily and some of the folks that kind of saw this vision back in the day. And thanks to our clients who are now driving some of them a little bit further or for some of them it's shorter, but, but into a different part of town. And, you know, we really appreciate our clients. A lot of good things happen. Yeah. Good stuff. So anyways, we were going to jump in and just give a little bit of an update on the markets. Like I was mentioning, there was some movement in the chip manufacturing world and the tech world. And who am I talking specifically about in video? If you guys have not heard about in video, it is kind of the biggest, baddest chip manufacturer out there. And kind of who everybody is looking at as far as the AI tech moves and what's going on in chip manufacturing and all this stuff.

7:16Yeah, the chips they make are a big part of what's driving a lot of these AI companies. Right. And they have these boards, if you will, that have a number of chips on them that sell for gosh, $100,000 or more I've seen. Yep. And so they came out and confirmed this morning that they have plans to purchase this little business for a little bit of money. I mean, they figured why not pick up a company called Hugging Face. Hugging Face. You heard me right. It's called Hugging Face. And they're willing to pay $13 billion for Hugging Face. And so a lot of these companies that people don't know about, there's all these AI companies and people behind the scenes that, you know, everybody knows in video, but there's all these other companies. Well, they are purchasing Hugging Face. My non techie side of explaining what Hugging Face is is they're an open weight AI platform. Just as I suspected. Yep. Yep. Open weight AI platform. So everybody should know what that is, right? Everybody we can move on now.

8:18And anyways, I did want to explain it in my very simple terms. How would you say it? Wates are basically the models are trained parameters of these AI systems. And they're open, meaning you can see them. They share them to the public. And so it's not, it's not like they share everything, but they do share some of the parameters and weights of their training models. And so that's probably still not clear for everybody who just like me is not in that world. Clear is mud. Yep. Clear is mud. But they, one of the things that stood out, I was looking at the financials of this right now. So they paid 13 billion. One of the things these investment bankers talk about is what they call a multiple. You know, what multiple of the revenue they're earning that a company's earning can they get. And this company was making about 150 million annual recurring revenue. Right? So to buy it for 13 billion.

9:18Yeah. It's almost 100 times. And that may not sound a lot different because all we're doing there is the difference between an M and a B with million and billion. But 150 million revenue for most everybody is astronomical. But to then pay 13 billion, if you go do some research, do some, you know, googling, look up a video that explains the difference between a million and a billion. Maybe that'll make a little bit of sense to folks out there on how much they paid for this. And so it's astronomical. And so that this is what people are wondering about like bubble and all these different words that people are a little bit concerned about because that is a huge multiple to pay for a company. So anytime we talk about these companies, anytime we talk about invidients, never a recommendation to buy or sell or whatever individual stocks and stuff. But we definitely want to talk about these things because this is what the big talk on the trading, you know, the trading day is today. With that being said, I'll throw out the numbers. Obviously the big mover there is Nasdaq. We're not closed down for the day.

10:19There's about 45 minutes left in trading. Nasdaq is up about 1.55%. The Dow is up 1.14%. And the S&P 500 is up 1.13%. So obviously green on the screen. Seeing tech, you know, companies buying each other and making these investments and stuff, the market likes it, the market's moving up. A little bit perspective. We always like to kind of bring that out there. So the S&P 500 is at 7,753. Like I said, it's up 1.1% today. Year to date, up 13.25. Over the last one year, up 20%. So just some frame of reference as far as like the S&P 500. Again, the 500 largest companies. What have they been doing for the last 12 months? They're up 20%. Everybody right now would probably like freak out if I said the market was going to crash 20%. Right. But yet it's up 20%. Yeah, and they've been saying for a while that things look expensive.

11:19But every time you say it looks expensive, that's not a barometer of what's going to actually happen. Yeah. Yeah. So we hope to have a little bit of time to possibly talk about bubbles and thinking about bubbles. So we'll talk about that in a little bit. You mentioned tech a little bit. Some of the other tech companies that people have been talking about SpaceX is up about 8%. Today, Tesla around 6.5%. Well, you know why Tesla's up 6.5, right? So today, tonight, they're unveiling the Tesla taxi. So they quit making the, I believe the model S. I think the S and the X have been cut. The S and the X have been cut because they're having a lot more sales on the smaller ones and the cheaper ones. But they're coming out or in velling tonight, the taxi, which from what I understand, it's going to be like a, it's not even going to have a steering wheel in it. Meaning it just drives you around. It just drives you around. There's no more driving in this. And so kind of a crazy world to think about.

12:19I mean, literally folks, we are moving into the Jetsons reality when he used to getting his little spaceship. And there's no nothing in it. You just punch where you go and it goes. And you know, it's both, it's kind of scary and kind of like so unknown. And it's just so crazy. Like I said, I never thought I'd be saying a company called Hugging Face just got bought for $13 billion. It is a different world in a lot of ways than what, you know, traditional, it was oil. And it was, you know, what are these big oil and energy companies doing? Obviously, very important these companies. And they're not going anywhere, but not realizing how much AI and technology and chip manufacturers and the ability to be able to store data and memory. Like that's the next frontier, right? And it's mind boggling because you're thinking, well, why is it so important? Well, because what I just mentioned, we're going to have cars that can literally drive themselves around and probably be better drivers than humans.

13:21Well, I know we've both been in Tesla. Tesla that has the full self driving. And we've seen it firsthand, how good it is. Yeah, technology is just fantastic. It's fantastic. It really is. And I don't know about everybody else, but at some point you reach this point in your life where you're like so sick of driving. And if it was amazing and like you literally could just dose off and just get pull up at wherever you're wanting to go, some people it still scares the death out of them. But for some reason it is looking more and more attractive. Maybe the more years I gained, huh? So anyways, but let's go ahead and jump into the questions that came in there. So we had one, I don't know exactly what they were talking about yesterday on the show, but it said, may have missed the chance to get my question in, but speaking of bonds and was wondering if they are safe to invest in, I've only been trading for maybe two years and didn't know the difference. I'm not sure specifically what they were talking about yesterday, but definitely want to,

14:21that's a great question. So when we talk about the stock market, we talk about different investment types. Stocks are owning, bonds are loaning, basic simple premise of it. Simple as terms. So stock, you're buying a little share and a little bit of a little tiny ownership in a company. And if that company goes up in value, you get to participate with the game. If the company doesn't get ran right or they have some major issues and it goes down in value, participate in the laws, you get to participate in the loss. And so that's the difference of owning a share and owning a little piece of the stock. Bonds, when you ask if it's safe, they historically and kind of overall are definitely considered relatively safe investments, but it depends on what type of bond you're buying. There's different types of risk. Yeah, go ahead. So that's a different type of risk. So when we say a bond, it's, as you mentioned, it's a loan. But who is it alone, too, is the question. So there are government bonds and guess who you're loaning the money to, the government.

15:24You've heard of Treasury bills, Treasury notes, Treasury bonds. The difference there is just the time frame. So you know, Treasury bill is like a bond, but you're loaning your money to the government for under two years. Bonds are typically 10 and longer. Yep. And so when you ask if it's safe, you know, we're talking about risk here, which is a good thing to begin to educate yourself on and understand. You're loaning your money to the government when you're talking about yours, Treasury's like Dustin was just mentioning. You can also loan your money to Apple. They might have a bond, right? Apple might be a safer company to loan to. I think they're doing okay and those kinds of things. So they call that a corporate bond because it's a corporation. And corporate bonds sometimes are affectionately referred to as junk bonds. If the credit quality of the company is low, right? And so those actually trade a little bit more like a stock. So we try to break things down simple here on the show, but like obviously the world of investments is vast. Thousands and thousands types of investments you can invest in.

16:25The one thing I wanted to say is that sometimes people think stocks are risky, bonds are safe. Can be, but you remember a bond just because you put your money in a bond. If you don't hold it to maturity like a government Treasury note or something like that, it does fluctuate in value. A lot less volatility than some stocks, but that does you can lose value if you need to sell it within the timeframe that the bond is offered for. And what is one of the things that has an impact on the bonds changing value with something that you. So that's considered inflate interest rate risk. So if interest rates go up or down while you're holding that note, while you're holding it, the value of that bond fluctuates up and down. It can go up and value. It can go down and value depending on what's going on with interest rates. And so that's one of the things to consider. If you're holding it to maturity, you'll get the interest rate that was stated and you'll get your money back.

17:25And you know quote unquote, you didn't have to to fluctuate with that. But if you need to sell that bond while you're holding it because of the change of income need or desire, I want to sell it and I want to move into a different investment. And you have to sell it middle of that term. You could either gain value or you could lose a little bit of value. But usually the fluctuation of those values is a little bit less than you see on some stocks. So not all stocks are created equal, not all bonds are created equal. There are some stocks that are more conservative than some bonds and some people don't realize that. So when we talk about allocation or looking over your account, you know, it's really complicated in there. You always want to break things down to as simple as possible so that what you're doing in your financial plan is simple and easy and repeatable. And you can keep doing it. You mentioned trading for two years. You know, I don't know how active you are in that world, but you know that nothing wrong with that. But you know, a lot of our clients who have won with money, it's more consistent monthly donations or contributions.

18:28And it could be that they've been investing for two years. Yeah, I just wanted to understand what bonds were. Yeah. Yeah, so great, great question. Another one that came in that will go over. Go ahead. Oh, no, I just was going to offer to read it. It's a big fan of money wise. My parents were clients for many years before they passed. And now my brother and I are in our 40s. And we've recently discussed setting up a trust and wanted to ask the professionals what steps we should take to get started. Do we just Google who does trust in town or do we go to the bank to get started? Thank you. Also, Woolworth looks beautiful. Love the coffee shop too. Awesome. Great question. And Kudos for you being in your 40s and getting started. I wish everybody would do this sooner than later because estate planning is this fancy word of what you're talking about of putting together a trust or thinking about it. And estate plan sounds really fancy. But if you're someone who owns, you know, you have bank accounts, especially if you are buying your home from the bank, which means you own the house.

19:31You have title on the house. Obviously you have to make your payments and do a few things. But you own the house. And if you own the house and something happens to you, you have to have a plan set up or else that house could go through what's called probate. So what important about that, you might not think you have a plan. We all have a plan. Right. Not having a estate plan is a plan. Yes. Because as you mentioned, there's probate that steps in and will decide for you who gets your assets. Correct. And a lot of people don't realize that everybody has an estate plan. Everybody listening right now, everybody hearing, you have an estate plan. Because if something happens to you, everything that you own is going to go to somebody else some way somehow. If you don't have something in place, it's going to go through probate court and a probate judge is going to look at things and start to say this is where the stuff needs to go. Obviously. You're free, right? Yeah. And they don't need to do it in a timely manner either. A lot of times I would tell people like, hey, you know, because some people will say, well, I don't care, I'm going to be gone and they can deal with it.

20:35If it was not a super painful process, and even if there was a little bit of cost to it, I would say, hey, yeah, you know, that's a good mentality to have. But it's not that way. Right. And there's all kinds of dynamics and family realities and sometimes later in life, free marriages and different things that you want to address. And you want to avoid family friction. And that's what we talk about with the state planning as much as possible. Make it simple. Make it a make it a, you know, a good plan. The one thing I was going to say is that as you said, you know, should I Google somebody? There's a there's a handful of a lot of greatest state planning attorneys here in town. Definitely. You could literally just call and start this process. Unfortunately, a lot of times we've seen people might go do initial consultation and get started and it just dies on the vine. And then eight years later, they still haven't done that. That's why we've actually been able to offer this to our clients here at Moneywise with a state planning. And there's a wealth calm that we can walk clients through because there are certain situations that it's simple and easy enough that we can help facilitate somebody kind of putting theirs together.

21:40One of the things I'll say is some of the things to consider to start getting together just to even have this discussion is you don't have to talk to a lawyer yet or anything like that. List your assets right down all your bank accounts, your retirement plans, real estate, real estate investments, life insurance. If you have it valuable personal items that you might want to, you know, because some of the stuff is just going to get passed out. But there might be a few things that you own that you want to make sure that you it's going to go to a certain person. And so yeah, what you're talking about is making an inventory. So you got the assets. It's also important to list out your debts too. Like, you know, do you have mortgages, car loans, credit cards that you might owe on? Yep. So. And then the other thing is get basic information of, you know, the folks that you're going to be part of this, you know, like if you're married, it's going to be your spouse name addresses, phone numbers, beneficiaries of who you're going to leave this to if something happens to you or you and your spouse. If it's a spouse situation, get those details together because those are the folks that you wanted to go to.

22:42You might also be somebody maybe you don't have kids and maybe your plan is to leave some of the money or the proceeds from the house to a charity will get the information together about the charity. I heard somebody say it that way. Children, church and charities, who usually gets things. Yeah. And so then really it boils down to deciding key roles. You know, you're going to, you know, want to choose who the executor or trust he's going to be. Who's going to, who's going to take care of all this stuff if something happens to me. If you choose it, you get to choose who does it and you get to tell them how you want it to go. If you don't choose somebody, you don't execute a trust or have things in place, the documents that you need. Like we mentioned, it's going to go to probate and the probate court and the probate judge is going to decide what to do for you or where the things go. And sometimes they may end up following kind of protocol and you don't want it to go that way. Yeah. That is something worth googling too when it comes to average timeframe and the cost. As I mentioned, I was being sarcastic when I said they do it for free.

23:42Yeah. Yeah. So we're big fans of getting this in order because another reason why getting a trust together, you can begin to select agents or somebody who would be in control for your medical concerns, your financial concerns, if you were unable to act, if you were in a car accident or something like that. See, that's the thing. It's not just what happens when I'm gone. It's what if I'm here but can't make decisions from yourself. Yeah, you want to get that together. So again, check your current beneficiary designations. That's one of the most important things. If you have life insurance, if you have retirement accounts, look at every single account you have. Make sure you have beneficiaries on them. You might even have bank accounts where you can put POD or POD payable on death. You can put beneficiaries on your bank accounts if something happens to you. And we're always fans of talking to professionals. That's right. Talk to them, otherwise if you want to get started, there's some local professionals you can talk to. So definitely great question, great concerns. Get started on your estate plan. It's a fancy word but we all need it because if you don't have it, somebody else is going to decide where everything goes.

24:42That's right. When we come back, let's talk reverb coffee. Everybody's waiting for break like fast cars in freedom. Welcome back. This is the MoneyWise show. We are very excited to be joined by some friends of MoneyWise, Sam Stuthoff and Jake Tovar of Reber Coffee. They're just coffee connoisseurs. How are you guys doing, guys? Welcome. Welcome. Hey. Welcome. Welcome. Welcome. Welcome. Welcome. Welcome. Welcome. Welcome. Welcome. Welcome. Welcome. Welcome. Welcome. Welcome. Thanks for having us. Thanks for having us. Doing great. Yeah. Thanks for joining us. Coming down from the happening spot upstairs, the corner of 19th and K. So really excited to kind of, and actually it's like, I've known you guys for a long time and I, we've never necessarily formally sat down and kind of got the whole story and I've heard bits and pieces. So I think one of the most important things to start out about reverb coffee is just sharing a little bit about the history, how it came about, and then how you guys ended up on the corner of 19th and K.

25:43So I don't know who wants to jump in there. I want to see a curious where the name came from. Yeah. I want to tell that in there too. Yeah. So let's share the story. Yeah, totally. So actually our other business partner, Keith Field-O-Vos. So it's Sam, Keith and I. We had the co-founders of reverb coffee and Keith and our cousins. And as my almost like big bro, I've always had conversations with him over the years. And we were eventually randomly talking about coffee. This was about probably last January, maybe a few winters ago. And he had ideas and concepts of wanting to do a coffee car in San Francisco or a coffee project in San Francisco. He was talking to me about it. I was like, dude, do it. Sounds fun. I'd love to come up and take some photos of it as well. So as he kind of was going through the sales, the sales thing up in San Francisco, he eventually had more conversations with me. Of like, maybe we could check this out in bigger sold. What does it look like in bigger sold? So then him and I started doing a lot of market research of where bigger sold is, where it's going, and all that kind of stuff. So from there, I also had a good friendship with Emily Wait.

26:46I am a photographer in town. So I've taken photos of her and her projects before. And I knew the Woolworth building was kind of popping up as well. And Keith and I started talking about what it could possibly be if maybe we get a little spot inside the building. So obviously from there, Keith and I, we kind of just went into just pitching and conversations and asking Emily, hey, can we get 30 minutes of your time? Shortly after Sam joined us as well. So Sam wanted to kind of take it from there. Yeah. I had recently just moved from Brooklyn. I moved with my wife here. She has family. A lot of ties there and decided it was time to make the shift, try a different town that starts with B and we gave Bakers Village a shot. Yeah. Yeah, we're working our way through. But and I've been in coffee for 18 years at this point. I got started in Seattle, working with Stumptown, starting different cafes in Brooklyn, all over. I helped start a cafe in Tribeca. Just had been a part of the coffee industry for the last 18 years in various ways.

27:50So I wanted to leverage my experience, kind of in a place that reminds me of my hometown, which is where I got my first break. Which is just a small agricultural town, not as hip and cool as the Seattle that I moved to. And I really enjoyed my time around the community in a situation like that. And I think Bakersfield is just right for a communally minded community-focused business and happened to link up with Jake through a good friend, Rachel Wainwright. And we just rock out of the way. Thanks Rachel. I got the big I.O.H.R.A lot. So big shot out. No, it's a win. Yeah. Hey, so when you live on the East Coast, I just found out the other day I'm horrible geography, so I don't know how far this is from where you were. But did you ever go to California, Pennsylvania? No, I had never, I can't say I've had the pleasure. I was cracking up. I was looking at colleges the other day and this one is this college in Pennsylvania is in California, Pennsylvania. I'm like, that's hilarious. So I bet you they get a lot of out of country recruits that are very confused.

28:52Where you from? California, but on the East Coast. Yeah. Yeah. Anyways, awesome. Well, and so then you guys did that. And so you're saying that we ended up on 19 and K because of the relationship with Emily and some of that stuff. The crazy thing is is like from my perspective and not even knowing kind of some of the bridge to how it all happened. I've obviously been hearing about this building for five years being at Moneywise and started this project, maybe not five years, but I forget what Christmas party we did. That was when it all kicked off because the the sell the building went through and then we did a Christmas party and it was upstairs was dust and mannequins and World War two. You know, surplus and rations and we've heard about a lot of clients and people in the community knew about those. And so just wild to see how it's all gone. But originally it completely makes sense reverb or our coffee shop. And so like the fact that you guys are there like it just fell into place. But it wasn't the original plans and it wasn't the original thought.

29:54And so it's just hilarious how well it's worked and how perfect it's become and the success that you guys have seen on the corner and definitely selling the community. Yeah, the word the name come from. Yeah, so a big shout out to David Calkbrenner. It's actually a graphic designer, also Keith's best friend. So we kind of workshopping names probably went through about 80 90 names and reverb kind of came out. So we kind of started workshopping it, looking at it, seeing how it looked on paper, on cuffs, we were drawing it and all that kind of stuff. So reverb coffee from there we did, of course more market research to see if anyone had it or had the URL or the Instagram name or all that kind of stuff. So yeah, and then also reverb kind of goes hand in hand with like the revitalization of downtown Baker. So also being inside the world, what we're building and the basement being a concert space. Reverb, a lot of musicians in town, the Baker, so it's sound. A lot of things are just going with that. So it just felt totally right to name us reverb. Yeah, and for those that get a full tour of the building, the third floor is full of reverb.

30:56Not coffee, but just echoing noise because it's just a big conversation. Yeah, and so like that's what's funny is because as they started the project, there's a few YouTube videos floating around where some local artists and stuff would record one of their songs upstairs kind of acoustic because of the reverb. And so again, it's just funny and that was at that time, there was no discussion of a coffee shop yet, right, or whatever. And so you guys didn't even maybe have the name of it, but everybody was like, oh, yeah, I love the they call it Woolworth sessions. If you research it on YouTube and stuff and John Ranger has a couple songs that are awesome. So I've heard them live and I've heard them in the in his studio version, well, the studio version on the third floor here, the building. So really, really appreciate that. And so like the fact that the coffee shop came together, it gets called reverb. Like it just crazy how well it all fits. So you know, as he was talking something else that stands out here, we talk about getting down to business. How cool that they put so much thought and care into the name. And then you did something really wise. And that's, has it already been taken somewhere else?

32:00Is the website out there? Like, you know, yeah, that's just really smart. A lot of care went into this. Yeah. So who was the driver of the business side of things is like, sometimes you have like the artsy side and sometimes you have the business side or you guys a blend of it or how did that kind of work? So honestly, I like big shout out. I wish he was here to kind of speak on this as well. But Keith P. Lovis, our main business partner, he's the driver. He's leading the ship all that kind of stuff. He has that expertise. Obviously Sam spoke on his background of being coffee for a while. And then I am a creative. I've been a full time photographer since I was 22 years old, it's about 10 years now, 32 now. But yeah, so I do a lot of the creative direction. But we all work in tandem. We kind of overlap in this co-founders. It is a lifestyle. So it's not a clock in at 8 a.m. clock out at 5 p.m. It's it's going 21 for seven. Yeah, that's awesome. Well, I love the article that came out recently. It says the days of mocking pumpkin spice season are over.

33:00So if you're out there making your pumpkin spice jokes at reverb coffee, no more that joking. Why? Because they have chosen to use the pumpkin spice in a positive way. This is hunger action month and reverb is going to be donating 100% of the proceeds for the smashing pumpkin, which probably some ode to some music there. So they want that to benefit the community action partner of Kern, Cap Kay, many people refer to it is action hunger action month. And it's really, really cool that you guys are going to be doing that. How did that kind of come about? Yeah, so obviously, as Cap Kay being our neighbors and downtown bigger soldans are little neck of the woods on 19th and K. We've got to know a lot of their family and just a lot of their employees and all that kind of stuff. So we took Sam Keith and I took a tour of their food bank about what three weeks ago now, maybe a month ago now. Shout out to Laura. She kind of facilitated this and we went to go check out the food bank and then from there they partnered with a lot of local businesses as well just to kind of help fight hunger and things of that nature.

34:05So she had the idea of just proposing a few options for us. Unfortunately, September is hunger action month and a lot of people are into pumpkin and it's really cool as well. The color of hunger action month is that orange almost the same orange as like a pumpkin. So it's a little dive deeper as well. Being the creative and posting a lot on social media, I actually went to Instagram about three weeks ago asking our clients or guests, our audience what they want to see from reverb and fall. And about how do the 40 responses, of course, about 25 to 30 was pumpkin affiliate, whether it's pumpkin, Colby or pumpkin, cold foam or a lot of some sort. So we knew the demand was there. And since the popularity and demand was there, we would love to make a drink that a lot of people can enjoy. So we could raise as much money as we can for hunger action month. That's awesome. And I love the name, Spanshin pumpkin. And so just for listeners, hunger. Yeah, there you go. Look at that. Come on. Just smash hunger. You already got it. I have a dozen. Dustin's are creative at money.

35:07Nice. The thing that I need to clarify for our listeners, the SP three, which is talked about a lot on this radio show is not pumpkin spice. Right. So it's a different drink. He's trying hard to get it on the menu. Is it because the three shots? Yeah. Yeah. Yeah. And he does the oatmeal. Yeah. Yeah. It's good. It's really good. And the other day, I don't know if he'd ever had one cold. I'm sure he did. But I took him a cold one because it was kind of a hot day. And he's like, man, this is so good. I'm like, it's the SP three. Just on ice. So, but yeah, we're fans. We love what you guys are doing. We really appreciate the fact that you're pouring back into the community. I didn't even think about the whole fact that cap case right across the corner. So to be able to show some love to all the people that come over here and enjoy your guys' coffee is really, really cool. So we'll keep we'll keep ringing the bell and tell people to get over there and have a pumpkin smashing pumpkin latte to benefit cap K and trying to make a difference there for hunger action month. Anything else you want to share with the listeners? Anything else coming up or I would say the cap K has plenty of opportunities to volunteer throughout this month. You'll be able to do any sort of there's a box food boxing situation where you'd be able to volunteer time.

36:21Yeah. Plenty of openings for volunteers. But yeah, they are they are volunteer driven. We as as as a company went there on a regular basis. And it's one of the funnest things that we've done as an office and in serving because they're organized there. Obviously they've been impacted by some of the changes and the financing and the funding of different programs and I know people have different political leanings and views and all this different stuff. But I'll tell you what they work really hard. One of the things that I believe we mainly helped fill boxes for were senior citizens in our community that might be experiencing hunger issues or food insecurities. And we would help fill up those boxes very organized fill up pallets. We would always try to see how many boxes we could get done. They put those they put those over there and then folks drive through the line and are able to take. You mean you talk about people driving through the line was wrapped around for many blocks. Yeah. Yeah. And so it's good to see that money get to you. So a lot of times people have like I said views of different things and then they they've never gone and seen it go go go talk to the folks at cap K go see what they're doing.

37:24Get a group together and go volunteer because they really need it. And if you are a business or an organization that's looking to do something once a month or every other month. They can put you on the calendar and you can take a group of 10 15 people and it's really fun to serve together in that manner they they have a couple of big a fans I think they call them will keep it PG 13 here. They have music plan and and in a good program going there so it's a very very impressive operation there to serve those folks in our community so thank you guys will take a quick break and when when me and Dustin come back we're going to talk a little bit about market bubbles there it is. Welcome back this is the money I show I'm your host Chris Pester with mister. And we were Mister Dustin we were and we did have a couple of comments that came in during the show you see if I can find them real quick where they go where they go. So says hey when do you guys plan on adding the sp3 drink to the drink menu over there at reverb that Seth Perry guy will never shut up about it lol get to that message is from Mr. Seth Perry.

38:36The the the the the the the brainchild of his drink there so said thanks Seth. Well to talk to him about yep yep. So another message came in said I love their coffee and great vibe in the building so thank you for that I agree with that yeah and like I told you it's crazy because. Dustin you know you've been a great addition to the team at money wise you've been here a couple years but like I was sitting in meetings five years ago four years ago and they were talking about buying this building right and caught a coffee shop wasn't part of it yet you know wasn't. Part of the you know discussion and now down the road man it makes perfect sense it's a great location it's a great coffee it's a great vibe kind of goes with the history the Baker's full sound music that was kind of the inspiration of some of the. Of what they were wanting to keep was music and the Baker's full sound and obviously the basement downstairs is there wanting to have a good spot for local musicians and artists to be able to do their thing and it's not a huge you know venue but it's a great. I like intimate concerts and build up fans and stuff like that so that name reaver resonates with that right totally yeah you go in there there's usually a lot of times it's a record playing they have a little vinyl record player and and great coffee so.

39:50Anyways really really appreciate all that stuff what I did mention and what I wanted to kind of finish the show with today because of some of the things that we talked about and Dustin you mentioned earlier that a lot of people are using the word. Overvalued or expensive you know when they're referring to stocks and stock market bubbles are a thing there's a few things to consider when you know you're concerned about a stock market bubble now the thing I will tell you is is do you know what I'm talking about. So what I want to do is is doing this for over 20 years now with folks. Fear of a stock market bubble has kept a lot of people from being more successful or more efficient with their money and their resources and so as financial advisors here we don't ever want to use the stock market bubble is like a fear tactic or you want to you want to get fear and greed out of your portfolio at all costs. And if you're working with an advisor hopefully he or she is doing a great job in thinking through these things and your portfolio and your investments this is being addressed hopefully if they are doing this stuff they're doing a good job communicating.

41:00Let's talk about that a little bit more when we say addressing one of the ways we address it is we build. Strategies that are long term right they're not short-sighted right. And so one of the first strategies to think about when you're talking about concerned about a bubble is own the total market our own a lot of the market not just the top. So a lot of times when we talk about things on this radio show we're talking about the five or 10 stocks that are always talked about in the Nvidia's and the Amazon's and the Walmart's right those are important to be part of your portfolio. But if if those are the companies that have just gone crazy and they're really quote unquote overvalued that's where you're going to see a lot of the volatility if the bubble pops. And if you're diversified that word we use if you own a handful of stocks. The whole market might not be as impacted as some of those top 10 15 20 stocks that have just been going like crazy and momentum and buyers have been just still pouring money in them when they take all their money out that's the crash or the top 10 15 20 of a certain category to right it's not necessarily always the biggest of the big it's like the biggest of a category right.

42:12Another thing that you can do is you can tilt your investments or your stock exposure towards value companies versus growth companies. And so again depending on how you're managing your investments or if you're working with an advisor like I know a lot of our accounts we focus on that like when when the market pulls back we tilt over towards growth when the markets overvalued we tilt a little bit towards value which that name value what they're looking at is how does this compare how do the prices of the stocks compared to the earnings of the company right right because some of those more growthy ones you look at the what we call a price to earnings ratio that could get that could drift high right and when they say that the markets overvalued sometimes that's what they're looking at is just that price to earnings ratio and they look at averages and they say okay over the last 20 30 40 50 100 years you know how do the prices compared to the earnings of the company and they're tracking that there are patterns there has been historical data around that but it's never a sure fire like oh this this means that they're going to go down yeah short run right in another way of looking at that too is a lot of times when you talk about growth companies versus value companies it's not tried and true and there might be some growth companies that pay dividends but a real simple way to look at it is growth companies are taking their profits and taking their cash flow

43:38and they're investing in technologies they're buying other companies remember we just mentioned Nvidia's buying Huggy face with hugging face Hugging face right so those companies are still investing their money and they're pushing forward value companies are paying dividends so those ones tend to do a lot better when there's a lot of motion in the ocean when there's a lot of chaos right they are paying a dividend and so those are the companies that don't have a lot of fluctuations possibly in those countries possibly in those times when I mentioned earlier that there's some stocks that are less risky than bonds some bonds move around more in volatile times than some really good companies really good valued companies are paying dividends people aren't jumping out of those companies are saying hey these companies are going to be fine I'm not selling I'm not doing anything even if some of the other parts of the stock market are going around so the other the other strategy is investing for dividends which is considered like value type stocks or blue chip stocks there's sometimes referred to

44:38the other thing that you can do is equal weight your stocks so that's a way to just kind of look at the different opportunities to the influence of the returns so that's not market cap rating that's equal weighted so it's basket it prevents the top stocks from dominating so you don't just let your stocks go crazy as your good stocks maybe go up you sell a little bit of amount you put them back to over the other parts of your stocks that aren't doing as well you know we call this you know like it could be rotation you call it or something like that but you're not letting your top stocks just run forever and some people say I bought it and I never sold it well that could be good but it also could put you at risk if there is a quote unquote bubble coming around these are some of the things that are being addressed and it's like some of our managed portfolios for clients hopefully if you're working with a advisor that's going for you are that you have some sort of way that you're looking at this stuff yourself lot of different a lot of different things to track there it almost sounds like at the end of the day having professional management highly diversified portfolio can provide some value yeah and the one thing that we talk about at times people can think that maybe being super active can be best but you can end up getting stuck in the emotional spin cycle we call it you're trying to chase returns during the good times and then you're scared of death of a downturn and then when it comes back you're afraid to reinvest and you can kind of get stuck in that emotional spin cycle

46:06and the stock market historically has done very very well it's usually us as investors and humans that can get stuck in that cycle and kind of do what we're not supposed to do or do it at the wrong times right so yeah well thank you thank great show thanks Steven thanks reverb thank you guys for being making the show what it is be smart be safe be money wise securities offered through LPL financial member finra s IPC investment advisory services offered through LPL financial LPL financial and money wise wealth management are independently owned and operated