MM #273: Rising Black Millionaires, U.S. Owns 10% of Intel, Truth About AI Investments, & Invest Fest Recap

Summary

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Market Mondays Ep. 273 Summary

Episode Title: Rising Black Millionaires, U.S. Owns 10% of Intel, Truth About AI Investments, & Invest Fest Recap
Date: August 26, 2025
Hosts: Rashad Bilal, Troy Millings, Ian Dunlap (EYL Network)
Guest: Caleb Silver (Investopedia)

Overview

This episode of Market Mondays was a high-energy, wide-ranging conversation coming directly off Invest Fest 2025, the largest Black financial empowerment festival in the world. The hosts reflect on milestone moments from Invest Fest, address live questions from the Market Mondays community, celebrate the rise in Black wealth and Black millionaires, and dissect major trends shaping investing—from AI bubbles to government equity in U.S. tech giants like Intel. The episode also features memorable stories (including celebrity moments), actionable investment advice (especially around tech stocks and ETFs), breakdowns of the AI and semiconductor landscape post-Nvidia’s run, and a guest appearance from Investopedia’s Caleb Silver.

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Key Topics & Discussions

Invest Fest 2025: Recap and Impact

• Festival Growth:
  • Over 25,000 attendees and 400 vendors participated (03:15).
  • Notable speakers and celebrities included Magic Johnson, Steve Harvey, Charlamagne, Issa Rae, 2 Chainz, Jack Dorsey, Kevin on Stage, Keisha Cole, and more (04:19–04:33).
• Iconic Moments:
  • Magic Johnson’s keynote, community prayers, and lessons on proximity to greatness (39:53, 73:39).
  • Ian Dunlap’s solo educational performance, which earned major praise: "If you only went to one thing...the wealth of information alone was worth the price of admission." — Troy Millings (37:08)
  • Paul Judge’s live AI investment on stage: two entrepreneurs received $125,000 each—possibly more (03:45–04:14).
• Community:
  • Emphasis on Black wealth, collective learning, and the importance of continuing to build—“We’re in the financial revolution” (13:05).
  • Powerful community and networking stories, e.g., Caleb Silver being welcomed and ushered around by festival attendees (94:50–100:38).

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Rising Black Millionaires and Community Wealth

• Stat: 2 in 36 Black adults in America now have $1M+ net worth (11:17).
• Message:
  • Focus on giving back, sharing blueprints, scaling investment and business opportunities.
  • "We should make this a requirement, not only to have family, churches, schools watch the show, but to also make sure they’re getting into investments at scale.” – Rashad Bilal (11:39)
• Overcoming Resistance:
  • Hosts detail the historical resistance to Black progress and wealth, stressing the need to stay united and focused while facing opposition (14:20–20:56).
  • “There’s always going to be opposition…The key to wealth is the ability to focus for long periods of time." — Troy Millings (18:51)

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Stock Market & Economic Update

• Market Sentiment:
  • Major optimism after potential rate cut hinted at Jackson Hole; Dow surged Friday (21:22).
  • "The market is permanently rigged to stay up." – Rashad Bilal (22:06)
• Timing & Execution:
  • Advice: Don’t “front run the news”—set your entries, buy regularly, and avoid overanalyzing (24:34).
  • “Execution is more important than prediction.”
• Nvidia & AI Stocks:
  • Nvidia’s upcoming earnings are a major catalyst for the AI/semiconductor market (23:25, 26:06).
  • “If you don’t hold Nvidia for the next 5 years, you’re saying you don’t want to be rich.” – Rashad Bilal (27:54)
  • Debate: Do Nvidia’s earnings matter? For investors: not as much, but for traders: yes (28:14–30:45).
  • Key lesson: "Stop losing your long-term wealth looking at short-term analytics." (30:45)

Buy-and-Hold vs. Diversification

• If under 35 and no kids, hyper-concentrate in a single asset for big gains; if kids, lean more toward diversification (45:46).
• “Hyper concentration is how you get wealthy. Diversification is to protect the wealth.” – Ian Dunlap (46:27)

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Government’s Role in Tech: The 10% Intel Stake

• What Happened: U.S. government now owns 10% of Intel via the CHIPS Act (47:06–50:01).
• Debate:
  • How legal or rare is this? Comparison to China/Russia, rare in the U.S. (54:41).
  • Is it a bailout, or necessary national security investment?
  • Long-term outlook: Intel is “still on life support…If those people aren’t at work, they’re not consuming. And that has hurt the stock.” (53:33–54:11, 90:36–92:32)
• Should You Buy Intel?
  • Consensus: NO for now. It’s a trade, not a long-term investment. They’re too far behind Nvidia and AMD (58:16).
• Broader Implications: Will government equity stakes in key industries become a trend? Is this “America first”—or starting to resemble centrally planned economies? (56:26–57:18)

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AI Investment Bubble & Sector Landscape

• MIT reports 95%+ of AI investments are not yet profitable (59:55).
• Implications:
  • "AI funding bubble is coming to an end. Only a few will become category leaders—just like in tech." – Rashad Bilal (60:06–61:15)
  • Where AI works now: customer service, back-office automation, healthcare/life sciences (62:10).
  • “Don’t bet against the winner. ChatGPT/OpenAI has 750 million weekly users” (63:16).
  • Reminder: Invest in best-of-breed—winners become exponentially more dominant in tech (88:33).

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ETF & Portfolio Construction: How Many Is Too Many?

• Question: Does owning too many ETFs dilute your returns?
• Recommended: Maximum 4 (two index, two sector/industry). Focus on tech and semiconductors (81:15–82:21).
• Strategy:
  • “2Tech2Index” (QQQ, SPY, SMH; tech index plus semiconductor + two broad indices)
  • “There’s only 10–12 ETFs that really matter for long-term wealth-building.” – Ian Dunlap (87:07)
• Action: Hold your plan for at least 10 years.
• Quote: “Make a decision and hold it for 10 years.” – Rashad Bilal (83:47)

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Miscellaneous Audience Q&A & Investment Questions

Should You Wait for September to Buy?

• “Market drops every month—historically September is a red month, but 2025 is unconventional.” Buy on big down days, keep cash on sideline (64:54–67:32).

XRP, Ethereum, and Crypto

• Hold for long-term despite volatility (79:24).
• “If you truly believe in the asset, hold it for a 10 year period. Let the court case stuff smooth out. Trump will find a way to use it. The government will find a way to use it.” – Rashad Bilal

CrowdStrike & Sector Picks

• Best-of-breed in cybersecurity. “Yes, yes, yes…It’s number one.” – Ian Dunlap (88:30)
• New tech/AI “defensive” stocks will be increasingly important.

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Notable Quotes & Memorable Moments

• On Building Black Wealth:

  • "This is a financial revolution. As long as people are making money, we’re going to be a part of it." – Ian Dunlap (13:05)

• On Community:

  • "There’s always going to be open opposition as far as legally, legislation, internet slander, dysfunction. And it’s going to come in all shapes and sizes and all colors." – Troy Millings (16:11)

• On Focus:

  • “Block out the noise. There’s definitely progress happening. Sometimes you don’t need stats for validation. There’s a thing called the eye test.” — Rashad Bilal (19:22)

• On AI & Nvidia:

  • “If you don’t hold Nvidia these next five years, you’re saying ‘I don’t want to be rich.’” – Rashad Bilal (27:54)
  • "Stop losing your long-term wealth looking at short-term analytics." (30:45)

• Invest Fest Reflections:

  • “Sometimes in life people need you to happen so they can happen.” – Marcus Rogier, as shared by Ian Dunlap (67:47)
  • “That prayer moment will live with me forever. Magic poured life into us.” – Ian Dunlap (73:39–74:22)
  • “Magic Johnson said, ‘I’m coming next year for free. I rock with this.’” – Troy Millings (75:18)

• Government & Industry:

  • “It's a quasi-bailout. This doesn't happen—at least not since the 2008 crisis.” – Troy Millings (54:40)
  • “We just can’t afford to lose another American brand.” – Rashad Bilal (51:06)

• Actionable Advice:

  • “Hyper concentration is how you get wealthy. Diversification is to protect wealth.” – Ian Dunlap (46:27)
  • “Buy every month. When drops happen, buy them. Don’t overcomplicate.” – Rashad Bilal (65:49)

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Notable Timestamps & Segments

• [03:15] – Invest Fest’s size/growth, celebrity highlights, and panel shout-outs
• [11:17] – Black millionaires: statistics, opportunities, and the DEI landscape
• [17:50] – Why this moment in history is unique for wealth building
• [21:22] – Jackson Hole, rate cuts, and their effect on the market
• [26:33] – Nvidia/AI stock Q&A: when earnings do/don’t matter
• [45:46] – $15K investment: concentrate vs. diversify
• [47:06] – U.S. government’s 10% purchase of Intel explained
• [59:55] – 95% of AI investments unprofitable; AI bubble/differentiators
• [65:49] – How/when to buy stock (timing & execution advice)
• [73:39–74:22] – Magic Johnson’s prayer and its emotional impact
• [94:50] – Caleb Silver’s story of community during Invest Fest
• [101:55] – Caleb Silver on education, practical investment tactics, and learnings from the event

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Energy & Tone

Genuine, celebratory, and community-driven, the episode combines the excitement and pride of a historic Invest Fest with a pragmatic, no-excuses approach to investing. The tone is both motivational (“don’t bet against the winner,” “focus, execute, don’t overcomplicate”), and irreverently honest, including playful banter and jokes (“Pause!”). The hosts remain focused on empowerment: both financial and communal.

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Final Takeaways

• Market Mondays is about actionable, hard-won investment advice from people building generational wealth in real time—not financial theory.
• The show models “wealth as a community act”: mentorship, giving blueprints, and celebrating progress.
• The momentum for Black financial literacy and wealth-building is historic—“you’re witnessing the financial revolution.”
• Stay focused, avoid short-term distractions and negativity, and invest consistently in proven winners and best-of-breed sectors.
• Leverage ETF “table strategies,” stay wary of overcomplication, and commit to a 10+ year horizon.

“Sometimes in life, people need you to happen so that they can happen. So take advantage of this moment…Start.”
– Marcus Rogier (shared by Ian, [67:47])

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For more details on topics from this episode, check key timestamps above, or connect with the Market Mondays community online.

Transcript

[Ian Dunlap]

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[Rashad Bilal]

Hey. We live right?

[Troy Millings]

What's the deal?

[Ian Dunlap]

Yeah, yeah, yeah. Happy Monday. We gonna what this is like. We gonna call this Invest Fest Monday for sure. They got Easter Monday. We're gonna call this Invest Monday. It's it's honor to be here with y', all man. I'm sure we'll get all the feedback from. Yeah, you know what happened this weekend, it was a story. I'm not even sure if we've had time to even really digest what I want to say.

[Rashad Bilal]

I'm proud of y' all though. Shoddy. Look up, Troy. Look up. I'm proud of y'. All. We gotta have a conversation about what his magic interview rank at all time though.

[Troy Millings]

Appreciate it, man.

[Rashad Bilal]

I'm proud.

[Ian Dunlap]

Yeah. The first person I saw when I came off stage was you. Ian. And I'll share with the audience with what you said to us. Well, me, you looked at me and said, listen, that might have been the best interview y' all have ever done.

[Rashad Bilal]

Steve, you my dog, love you dearly.

[Ian Dunlap]

I looked at you, I'm like, wait. Huh? Because we were in the moment. And then as I started walking around a little bit, I'm starting to hear that as well. And I'm just like, I'm just grateful for being in the moment. Obviously, the Steve Harvey interview is an all time classic for us. There's a bunch of others as well. But I mean, the moment was so dope, man.

[Troy Millings]

I want to thank. I want to thank everybody for, for coming out, man. Like OG show said like five years, we never had no incident. It's been five years and it's only getting bigger. Vendor marketplace was on fire. Shout out to Ms. Business Sponsoring Vendor Marketplace. 400 businesses just to see the energy and enjoy people.

[Ian Dunlap]

Yeah.

[Troy Millings]

You know, we tried to walk as many people through there as possible. Sh Got mob. Charlemagne show love. Shout out to two chains man.

[Ian Dunlap]

Shout out to chains.

[Troy Millings]

Man. Shout out to Paul Judge his competition as. As he said that he would gave two people $125,000, $250,000 on stage.

[Ian Dunlap]

That was incredible.

[Troy Millings]

Magical moment.

[Ian Dunlap]

There's a crazy part they. They had. They potentially was like, hey, if there's other investments inside the marketplace that y' all think we might go in there and bring a check as well. So they, they came prepared. They came ready, man. Shout out to our winners.

[Troy Millings]

Shout out to them. Shout out to 19 keys. Yeah, he did an excellent job.

[Rashad Bilal]

So dope.

[Troy Millings]

Yo, Charlemagne, Issa Ray, Steve Harvey, of course, Magic Johnson as an iconic moment. Yeah, that was dope for us. VIP night. Kevin on stage. We had Keisha Cole.

[Rashad Bilal]

Incredible.

[Troy Millings]

We gonna talk about it later.

[Ian Dunlap]

Did you say Jack Dorsey?

[Troy Millings]

Jack Dorsey.

[Ian Dunlap]

Did we miss market? Monday's live for the first time.

[Troy Millings]

The aerial view video at that time packed to capacity. But first and foremost, I want to say shout outs to you, Ian. Yeah, we're going to talk about a little later on, but another iconic performer, like I said, we'll talk about later on because I want to do it. I want to do it justice. But if you were there and you saw Ian's performance, put fire in chat, please. A legend situation for sure.

[Rashad Bilal]

Yeah, yeah.

[Troy Millings]

So much to talk about, man. So much.

[Ian Dunlap]

We. We didn't even mention the form Weaver conversation. Tabitha, I gotta give. No, and let me just say this. I spoke to him personally backstage, but MG what an Amazing weekend. Obviously, people don't see the behind the scenes leading up to this event. Like I said, it takes 12 months for us to get three days right. Like, we want to make sure we execute at the highest level. What he's been doing behind the scenes, the fact that he hosted two panels. He did the china panel, he did the crypto panel. He brought rants and gems back live on stage. It was incredible. Kiana was incredible. African bars miss business for sure. If. And the only thing people wanted to talk to me about was how she lit up that stage on Friday for two hours.

[Rashad Bilal]

Yeah.

[Ian Dunlap]

And then proceeded to just take over the marketplaces. I saw fans everywhere I went. The cowgirls was chasing me all over the place. This business put on a show. She had a great event, I believe Friday night. Oh, no, no. Saturday night. Thursday night, she had. She had an event. Smitty the Goat. They won the vendor marketplace best booth. Just an amazing weekend. And all the first. All the newcomers. All the newcomers that came to invest fest. And we got to speak. Yeah, yeah, we'll get into all this.

[Rashad Bilal]

That's my guy is shout out to Flip. Flip called me. He like, yo, I did not know stage show was like this. You killed. I don't know. The guys was like, he's like, yo, I, I, I cannot wait to be back next year. So shout out to my brother Edwin. Love you.

[Troy Millings]

Salute to Edwin, man. Thank you. Thank you to Mike A B. All of the team that put the, that put the situation together, the content team, it was, it was very diligent about getting content out.

[Ian Dunlap]

That was ridiculous. Yeah, like, the, the, the clips were going up. As soon as we stepped up, people were like, yo, I just watched this. How did, how am I watching a clip of it already?

[Troy Millings]

When I seen Charlemagne, I was like, you know, Fawn Weaver just came on. I mean, she was here. He's talking about the uncle nearest. So, yeah, I just seen. She. She had that clip that went viral, and I'm like, what are you talking about? He's like, here? I'm like, it's like an hour ago. I'm like, what do you mean, like, it went viral? She's like, I had to look on Instagram. I'm like, oh, damn. They put the clip up already.

[Rashad Bilal]

Already. Yeah.

[Ian Dunlap]

Crazy.

[Rashad Bilal]

All right, thanks real quick. My brother, my dad, appreciate you saying the trap Choir, Ty, Yomi, speaker box, media, Judy, everybody who supported me this weekend. Stephanie, Ashley, I love you. Ideally, I couldn't have done this without y' all for Ryan. My God. Good to See you. So.

[Troy Millings]

And.

[Rashad Bilal]

And thank you to y'. All. It was a great weekend. Y' all.

[Troy Millings]

Appreciate it, my brother.

[Ian Dunlap]

Yeah.

[Troy Millings]

All right. All right. Okay. Like I said, we're gonna. We're gonna talk about Invest Fest later on, but there's a lot that's happening in the market, and this is live. This is actually live. This is a live show, so we'll probably be doing some question and answers later on. One thing about Market Mondays, no matter where we are in the world, no matter what happens, I'll get it done. We never miss Market Mondays. Our dedication to Market Mondays is here.

[Ian Dunlap]

Man.

[Troy Millings]

We love Market Mondays audience so much. I saw two chains, he was like, yo, I ain't hearing nothing on Market.

[Ian Dunlap]

Yo. That's crazy, right? Yo, you're not gonna say thank you about how I dropped y' all name in the verse? I'm like, yo, bro, I was on stage. He was like, nah. Every time you see me, you gotta say, I'm like, chains. You got it, bro.

[Troy Millings]

Now, but shout out to everybody that watches Market Mondays. It's become a real community of sorts, and we don't take that lightly. So that's why we never miss Market Mondays, no matter what. Me and Troy, we flew back even early, and we here and we here tired. But the work must go on. One thing about Market Mondays, it always gives you energy. So with that being said, Blackout Wednesday.

[Ian Dunlap]

Yes.

[Troy Millings]

Thursday, Eyl we back. We took two weeks off of Eyo. We got Eyo. We got to earn your leisure. Episode 6 o'. Clock. And this is a good one. And this is a good one. So we got Gary V. We got the legend Gary V. Yeah, we asked him Everything about from AI to NFTs to content creation to lessons learned to the next generation of entrepreneurship.

[Ian Dunlap]

You know, he don't duck any good person, good energy. He doesn't duck any of the questions. He's all smoke. He wants it.

[Troy Millings]

Yeah. So Gary, he got. Yeah, he got a lot of. He got a lot to say because, you know, a lot of people been talking. So he got a lot of talk.

[Ian Dunlap]

Yo, shout out to Kristen. She said Cedric Nash was fire. We forgot to say last week. And he. Oh, my gosh.

[Troy Millings]

Salute.

[Ian Dunlap]

Salute to Zach.

[Troy Millings]

All right, so Blackout. Eyo. Troy announced to the claimer.

[Ian Dunlap]

Yeah, you know how this works, man. Our content is intended to be used and must be used for informational purposes only. It's very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with or independently research and verify any information that you find on our show and wish to rely upon whether for the purpose of making an investment decision or otherwise. This is a message brought to you by the good brothers that earn your leisure and the good brother, Ian Dunlap. Ian Dunlap two Stock Shakur himself.

[Rashad Bilal]

Yeah.

[Ian Dunlap]

Investor man. Love is love. Let's build community. Let's share the wealth. Let's share the knowledge.

[Rashad Bilal]

Gonna do announcements real quick.

[Ian Dunlap]

Let's do it, sir.

[Rashad Bilal]

Stock club Sunday at 7pm Central. If I made you money, please put yes in chat. And to my Red Panda family, thank you for the bottom of my heart, for making that building go crazy. When I got on stage, everybody who was in the crowd, who saw the performance, I love y' all dearly.

[Troy Millings]

That's a fact.

[Ian Dunlap]

That was ridiculous. That's ridiculous.

[Troy Millings]

All right. Okay. Okay, ladies and gentlemen, let's get this show started.

[Ian Dunlap]

Let's do it. I just opened my iPad.

[Troy Millings]

For every 36 black adults in America you meet, it's a good chance that at least two of them have a net worth of a million dollars according to 2025 data. In light of DEI, do you think there will be a. There will be forces that try to reverse that stat?

[Rashad Bilal]

Coming off of this weekend, I want to focus on community, giving back and giving blueprints and not worry or given to the fear. We all know about the DEI forces. This is a great question. We all know that there may be some people who may not be liking this movement. But I think is most important, especially after this past weekend, just focus on giving more blueprints, giving more to the community. So we can take this number from 2 out of 36 to 15 to 16 out of 36. I want to start to look at economies of scale for our community. And I think we should make this a requirement, not only to have family, churches, schools watch the show, but to also make sure that they're getting into investments at scale options when it's right at scale, futures at scale, building business at scale. Are there some forces that may not be happy with this movement? For sure, but we have to take care of us, and that's the message I want to give tonight. But I want to ask you guys, what do you think about the question and more importantly, what's the solution it would use?

[Ian Dunlap]

That question used to weigh on me a lot. And I think everybody has this. This feeling, right when you're trading and you're making money or you're investing and you're making money in the market and you Start to make money that you haven't seen before. And that money starts to multiply is you ask yourself this question, is it real? Right?

[Rashad Bilal]

Like absolutely.

[Ian Dunlap]

I talk to a lot of people who are beginners and they, they, they say the same thing. Is it real? It doesn't feel real at first. It almost feels. How are they going to figure out how to take this away? And then when you peel back the layers of it, you realize that this is how they've been making money all along, generations, for generations. And so in order would they cut their nose despite their face? And it's like, I don't think so, right? Like this is a system that has been built on capitalism. And the fact that this generation, this moment, that's why I said this moment in time is so historic. We have access to resources, right? We have access to information and we're executing on it. I think it can't happen because if they're going to make money, we're going to make money. The fact that we're doing it together, the fact that we're learning from each other makes it such a revolution. That's why we called it the financial revolution, because it is that. And we're doing such a great job here. But the next thing is like, let's make this a global mission, right? Let's have 100,000 people pull up to an event about financial education. Like that's where we're headed with this thing. So yeah, man, as long as people are making money, we're going to be part of it.

[Troy Millings]

Rashad, your thoughts first? There was somebody in the comments that said that they, they purchased the live stream and didn't get access. I'm not sure what happened, but you can send me a DM to my personal Rashad Val, have your full name and email will verify that you actually did purchase a live stream and I'll make sure that you get the recording. That's the first thing. The second thing is of course there's always going to be anytime there's progress for our people, for specifically in America, there's always been fact. There's always been forces to try to reverse that progress. That's a historic trend. Whether it was reconstruction, we made progress. Then the Freedmen bank happens, right? Then redlining happens, then the crack epidemic happens, then mass incarceration happens, then quo quo happens. Then, you know, they assassinate Martin Luther King, they assassinate Malcolm X and you know, Mega Evers and all these different things. Food deserts pop up, mandatory minimums, you know, medical disparities start to happen. Syphilis is given to black people. Okay, the list goes on. So, yes, black Wall street happens. Of course they're gonna try to suppress any type of progress. And a lot of times that level of opposition does not have a white, Is not a white person. See, the enemy is not, is not a, it's not a color thing in 2025. It's, it's a, it's an identity, what you identify as. So you could, you could, you could identify as something that you're not and have that same level of hatred. You could be a black, A black Klansman. You are cooking, to be honest with you. So keep your head up in your eyes open, because there's definitely going to be open opposition to people interested in finance, to people investing into the stock market, to people buying real estate, to people starting businesses. There's going to be open opposition and there's going to be open opposition as far as legally, legislation, Internet slander, dysfunction. And it's going to come in all, all shapes and sizes and all colors.

[Rashad Bilal]

But as a community, we got to stay focused. And to give John Brian credit, kudos to the brother. America needs us at scale to invest in these companies.

[Ian Dunlap]

Right.

[Rashad Bilal]

And Target didn't think so. And then somebody got reshuffled and moved to that chairman seat.

[Ian Dunlap]

That's the case study. Right?

[Rashad Bilal]

That's a live case study. Like for the first time in American history, the market needs us. And I talked about it yesterday. But 10 companies have been driving all of the gains last 22 years. They need us to even prop up some of the companies that are being publicly traded. So stay invested, hope for the long term, build your business, build community, pass it on, because we'll need it now more than ever.

[Ian Dunlap]

Yeah. I think that's what makes this, this time so unique again. Right. Everything that you laid out from a historical standpoint, if you look at that time in history and where we were in terms of investing inside of the US Account, the stock market, the numbers don't look like they do today. Right. Which tells you that something has changed. And that's the information about how to invest, how to changing people that look like us doing it, people actually making money from it. And now it's like, wait, now we're gonna kick down the door.

[Rashad Bilal]

Yeah.

[Ian Dunlap]

It's like that, that, that interlude when we were doing it and nobody, we were quiet, no one cared.

[Rashad Bilal]

Yeah.

[Ian Dunlap]

As soon as we started to make noise, that's when you're gonna meet some hesitation.

[Rashad Bilal]

Yeah.

[Ian Dunlap]

And even when we started investing. Right. You had to be certain Times accredited investor, even to open account until that barrier gets thrown down, right? And so we just got to stay focused. Like you said, stay low, keep firing, keep kicking down the door, keep spreading the message and, and spread love.

[Troy Millings]

But the number one thing for everybody to understand is you stay focused. The opposition is always going to be opposition. There's always going to be is that goes back to, you know, whatever religious text you. There's always a good and a bad. There's negative, there's negative energy, there's a devil and there's God. So you can't let the devil get you off track. You got to stay focused on what you, on what you're doing. When it comes to building wealth, one of the keys to building wealth is having the ability to focus for long periods of time.

[Rashad Bilal]

Stream focus.

[Troy Millings]

That's difficult. Most people, most people can focus for short periods of time. A lot of people can't focus at all. But in order to be wealthy, you have to have discipline and you have to be able to focus for long periods of times. Long periods of time. So it's the same thing with investing, right? Like you got to invest for 20 years, 25 years. So stay focused on your wealth building journey. Block out the noise. Because I think that, you know, there's definitely progress that's happening. I don't even need to see a stat because even stats sometimes are misleading, right? Like you see 25,000 people in a conference that's dedicated about finance and education. That wouldn't be possible 10 years ago, five years ago. That speaks to, that speaks to progress. So sometimes in life, sometimes we don't, we don't need validation from statistics to know. It's a thing called the eye test. There's a thing called the eye test, right? Like we go outside, we see people asking about brokerage accounts and talking about crypto. That wasn't happening before. So I, without even having any statistics, know that progress is being made. So we see it, we can't, we can't reverse that. We just can't reverse that.

[Ian Dunlap]

Long story short, yeah, we, we see it on a daily basis and it's coming from all aspects of life, right? From entertainment, we got guys talking to us. From the sports, you got guys from Wall street, people coming up to us like, yo, thank you. I, I've been working here for, for years. And finally y' all are talking the language that our people need to hear. Happening, it's happening. Where they going?

[Rashad Bilal]

Worldwide.

[Ian Dunlap]

Worldwide, Exactly. Right when we travel, it's the same thing as well. And so Whether, how they try to shape the narrative, it won't matter. Right. What's only going to matter is that we had the information we executed and we're changing not only our lives, but our families and our communities as well.

[Troy Millings]

Okay. All right. Now let's talk about stock market. Back on that stock market vibe.

[Ian Dunlap]

It's a big week, man.

[Troy Millings]

So sure.

[Ian Dunlap]

The biggest week, right? For sure.

[Troy Millings]

Well before, before we do anything last week, Jackson Hole, then they hinted that there might be a cut in interest rates and that, that sent the stock market high. Actually it was on Friday, your Friday, it was with Caleb Silver and he was like happy Invest Festival. Because they're like it was up. The Dow was up like 400 points today. You know, kind of stayed a little like came back. It came back. So is that enthusiasm in the market just like a one day thing or can that spark a upward trend for the rest of the year?

[Rashad Bilal]

I think it could spark an upper trend for the rest of the year. But I think we have to remember that the market, I keep saying, is permanently rigged to stay up. Even with the pullback today, it's still at a multiple higher of where it was before he even made the announcement. I think investors are looking for optimism. They're looking for a rate cut and more than anything they're looking once again for a catalyst to be able to get into the market, to know that the market is going to drive higher and they're going to get a higher return. So I think this is going to be the start of it for my traders. Don't try and front run the news. Just wait for the news to come out and then pick your levels where you're going to execute. Great lesson. Write this down. You need to know your three entries where you're going to get in. I gave some yesterday but have three levels on each chart. On your day, chart for where you want to get in and you'll be a. Okay, don't front run the news but for my investors use this as a catalyst like pull back some today. Yes, but it's still up higher and at a multiple of where it was on Friday. And if you hold for the long term, that's the real win. That's the real one.

[Ian Dunlap]

Yeah, The, I mean Friday is important. It, it sold showed what we had anticipated that September. I think it's at 95 now, the chance of a 25 cut. But I think more importantly is what happens Wednesday or equally as important.

[Rashad Bilal]

Yeah.

[Ian Dunlap]

Our Nvidia reports will, will determine how the rest of this this month is going to fare out and how this AI economy will figure out. Right. If their numbers show that there is still extreme growth and extreme demand, that ecosystem, and I know you kind of allude to it yesterday about the ecosystem of AI and specifically semiconductors, that'll tell us a lot, right? If you look at the companies that have moved the market and the industry that has moved the market, it has been that. Who is the leader of that, obviously, is Nvidia. All expectations are that they're going to have another blowout quarter, which is two years in a row. I'm just almost unprecedented. Incredible, right? Hope. I mean, last quarter we sneezed that 70 growth. Right. We asked ourselves, when is good not good enough? So it'll probably be another one of those scenarios. So that'll be important going into September. And then if you have a rate cut again, that, that even adds to the bullish sentiment. So this is interesting. This is like one of these late summer things that hasn't really happened over the past few years where it's like, wait, we're waiting for it, we're waiting for it. Is it going to drop?

[Rashad Bilal]

Where's the pullback last Wednesday? This is the importance of execution.

[Ian Dunlap]

Exactly. Yeah.

[Rashad Bilal]

Wednesday. And some people are like, well, the Tuesday. Well, I thought the market was going to drop. Wednesday comes now you're afraid Friday the market goes up. Just prepare every month to buy in and you'll be okay. A lot of the biggest mistakes I see investors and trading traders make is over analyzing the move and not getting in. I know a lot of technicians who are great who won't deploy capital. You have to put the money to work. So when the next moves become available, and we saw this when Nvidia went to 89, put in chat. I will not miss out on the next big move.

[Ian Dunlap]

Yeah. And it. I got a bunch of texts is that it's at 173. Should I do it? Like, it. It hasn't even moved 1% yet. Like, like the NASDAQ is falling. I'm like, it fell 1%. Like, people are in fear of that deep correction of like, hey, we went down 10. We went down. We had that happen. That actually happened this year. We saw it. Yeah, right. I don't know how many. If it happens three times or four times in the same year, what we can do is, hey, where are we at now? Is there a callous event? Is it a strong company? Yeah, we got to take advantage of that. Are the economic factors in our favor? Yeah, we got to take advantage of that.

[Troy Millings]

Sure. Oh, and part in the drip. Oh, part in the drip. We talk about that later on. Blast blackout conversation.

[Rashad Bilal]

What? Excellent. Then you put the cap on your tiger was hunting on something. I said I get the theme these day now. Got you.

[Troy Millings]

Oh man. Since we are alive, I think, I think it'll be good we in the in the mix of this show we can answer some questions. There's been a few questions about Nvidia. In the chat, one person said he shorted over Nvidia until October. Other person said, do you think Nvidia will fall after earnings? Another person said, what do you think about Nvidia's? What do you expect from Nvidia? Nvidia's earnings. So okay, that seems to be a common theme on questions from the chat is Nvidia's earnings.

[Rashad Bilal]

I'm gonna be very frank with you. Earnings don't matter. Here's what matters. What company is going to keep America afloat and move the GDP of America up? That's the bet. So if you tell me you think Nvidia because you're now if you're trading, that's different. But if you're looking to hold for six months to five years, this earnings doesn't matter. But are they going to do incredibly well? Yes. Because if not, the entire AO AI ecosystem is going to blow up. So you're. You're basically saying is Michael Jordan shot the magic going to fail in the finals? It has not happened. I think Nvidia in this era has become what Apple should have been and they're going to do incredibly well. Hold for the long term. If you're in an option to your call, hold for the long term. I think a lot of times we miss out on 300, 400% gains worrying about a 25% or 20% drawback. Man, you're missing out on completely on the upside earning. And that's why me personally, I never looked at earnings or talked about earnings. I know some of you want to trade it. You can get put in a wood chipper doing that because they can report well and the stock will still fall. Know your levels beforehand. It does not. It's like.

[Ian Dunlap]

The third pick of the.

[Rashad Bilal]

Draft Madison, when they pick Jordan, they did something right. For those you who don't hold Nvidia these next five years, you're saying I don't want to be rich. You do whatever you want to. You listen to the earnings and shot Tom Lee and everybody up. It doesn't matter, bro.

[Ian Dunlap]

All right.

[Rashad Bilal]

The entire economy is tied to Nvidia the next five years until Open AI.

[Ian Dunlap]

Goes public, until further knowledge. I'm gonna, I'm gonna clean this up a little bit because I'm gonna say that earnings do matter, right? In this sense. In this sense. In this sense, if we're trading on a quarterly to quarterly basis, that is risky, right? Hey, we're going into earnings. Let's. Let's add shares or let's add option calls. They are catalyst events. What they do provide is where they currently stand, right? The company and what the future of the company's growth looks like. So in that sense, they, they matter, right? Because if they don't, I'll give you an example, right? When AMD doesn't offer future guidance, that's going to hurt their shares, right? That company is going to fall. Now, they could have a blowout quarter, right? And we've seen companies have blowout quarters. Netflix for sure, right?

[Rashad Bilal]

Yep.

[Ian Dunlap]

Tesla does it, right? Or it could be the inverse. They have a terrible quarter.

[Rashad Bilal]

Yeah.

[Ian Dunlap]

And we watch Netflix, the stock price increase. So in that sense, it matters because they're like, wait, what are you talking. No, here's the thing about Nvidia, and this is very strategic. If you look at the ecosystem of hyperscalers that use Nvidia, look out how they reported. So this is when I'm talking about earnings matter. How has Amazon reported, right? What did Microsoft's earnings call look like? How did TSM's report look? Right? Because these companies, right, are using them as businesses. How did Dell look over the past quarter? How did Oracle look over the past? All these companies that are involved in the ecosystem, Vertiv Micro, all part of that ecosystem, Broadcom, how are they looking? How are they reporting, right? That a. So if we're starting to see that type of momentum lifted by the tide of Nvidia, that means the momentum is strong. That means the demand is strong. That means we're on the forefront of something, right? And if you heard anything that we've said over the past year, right, AI is going to lead, and this is the leader. And if all of those boats have shown strong demand, that the leader is going to show strong demand. Now, again, when is good, good enough or when it's being great, great enough? We'll see on Wednesday, right? But if they show 50 growth or 60 growth, that's still technically, that would be a decline, right? Because they showed 78, right? When they went from 244 to 134 growth, we said, damn, they're on a decline. But that's 234 growth year over year.

[Rashad Bilal]

And who's doing it. You're having a battle of if you can sell your chips to another country and you're being treated like a superstar draft recruit, it's a sign that the company's doing incredibly well. Before everyone here, I need you to know, stop losing your long term wealth looking at short term analytics.

[Ian Dunlap]

Here's how the inverse works. Let's say that it, it doesn't do what the expectation is. Well then you're going to see that pullback.

[Rashad Bilal]

That's gonna be time to get in. Yep.

[Ian Dunlap]

Or a nice reset.

[Troy Millings]

Yes.

[Ian Dunlap]

Do this again.

[Troy Millings]

It's a good. Oh, and shout out to Justice Culture on my support Black business campaign. Those guys invest fest. Also this happened before with Nvidia where they have, I mean upward trajectory as far as growth but they, they disappoint Wall street and their stock falls. So yeah, it's a very good chance that their stock is going to fall because it's happened before. Like Ian said, long term that doesn't matter. But then also Jack Dorsey said hopefully we'll probably put the Jack Dorsey interview on market Mondays one of these weeks. But Jack Dorsey said that pretty much paraphrasing stock price is drive by human sentiment and emotion. If people feel good about something, then it's going to go up. If they don't feel good about something, it's going to go down. So he was like, he doesn't really get too worked up worked up about it. He just got to stay focused on the mission of just building a company because ultimately if the company is successful then the stock price will be successful. So think of Nvidia the same way as far as emotions. Right. Like a company, like you said, if the expectations is 200% and they do 190% then it's like damn you, you disappointed us. But in what world is 190 a disappointment? Right? But that's just based off of human emotion, not necessarily pure numbers. And you know, looking at the actual data and Nvidia, they set the bar so high that there's only, there's only room for disappointment. Really. There's no room like their, their level of expectations is so high that there's a very good chance not, it's not impossible, but it's a very good chance that there's going to be disappointment. And based off of that disappointment, the stock price will.

[Rashad Bilal]

Can I ask a question?

[Ian Dunlap]

Can I just respond to that? Which one you want to do first?

[Rashad Bilal]

Teamwork. Magic.

[Ian Dunlap]

All right. He threw me A no look yesterday. Yeah, no look for real look. I'm like, you gotta frame that. It, it's, it's interesting, right? Because there's a chance just as good that they obviously do report. But now you're going to start to see, right? This is why we look inside the earnings. How was Blackwell sales in the quarter now that it's fully ramped up, what are the expectations for people to order Blackwell Ultra? Right. Are they going to figure this thing out with China that they're going to make a chip? Right before it was like, they're not.

[Rashad Bilal]

Going to make gonna be figured out.

[Ian Dunlap]

People got so caught up in like, hey, the H20 is not gonna be able to be sold in China. Yeah, that was part of the news. The other part was, yeah, they're gonna actually make one that's more highly cable. Exactly. They're gonna give him a more advanced ship. Right. Rather than the hopper. So you, when you look at it, it's like, all right, well there's an opportunity there. So like when he gets on the call, if he announces something like, good night. I mean, it's already good night, but like it's really good night. All right, guys, ask the question.

[Rashad Bilal]

Stop wasting your life on a short term analytics. Who's better? Nvidia Palantir.

[Ian Dunlap]

Nvidia.

[Rashad Bilal]

Nvidia amd.

[Ian Dunlap]

That was number one.

[Rashad Bilal]

We're not Nvidia Google. There's nothing else to talk about. This is Jordan or LeBron.

[Ian Dunlap]

You know what I'm doing because I want to do a case study on Google. I'm gonna do one next week.

[Rashad Bilal]

Okay.

[Ian Dunlap]

Because when I look at AI and shout out to Alicia Little. Oh my gosh.

[Rashad Bilal]

Amazing.

[Ian Dunlap]

Oh my gosh. What she did on stage was. And if you were there and you witnessed that, I mean, absolutely incredible. I feel like they should be. That stock price should be a lot higher than it is.

[Rashad Bilal]

It is undervalued and underappreciated. And in two years they are going to have something to say.

[Ian Dunlap]

It's very interesting. And, and yeah, so I'm gonna do something with them. I'll break it down. Yeah, yeah.

[Troy Millings]

And you actually said it during your presentation yesterday as far as like the top, the, the tech stocks. And you talked about Nvidia, you talked about Apple, you talked about three top three. You did a whole presentation on that. And that's something that, you know, definitely wanted to like I said, give you your flowers in real time. Because, you know, I've been in finance for over 20 years as far as a financial advisor and Then, you know, earn your leisure and a variety of other things. So you get to see a lot of different things in real time. But I personally never seen something like what you did yesterday as far as the crowd control, the showmanship. You know, you gotta realize you got 14,000 people in that room standing on their feet. You know, people had their phones out, people writing notes, and it was a very, you know, it's difficult to speak by yourself because there's no crutch to lean on. So it's like an interview is easier because you talk, the person talks. You talk, the person talks. You improvise, you tell a joke. There's a, there's a rhythm. It's like dancing. But when you, when you are by yourself, there's no backup. There's no, you know, let me get my thoughts together for a minute. Like if you don't know what you're saying or if you have a blackout moment or if you, you know, stumble on your words, you have to clean that up. There's no, there's nobody to come on stage and like, okay, let's get the five minute intermission break. Like, you know, I mean, so you did a variety of different things at one time. Being able to speak, educate, show slides. It's kind of like, you know, a triple threat in music. There's people like Beyonce or Chris Brown or Michael Jackson who can actually.

[Ian Dunlap]

The big three.

[Troy Millings]

Yeah, clip that up, superstar.

[Rashad Bilal]

Go ahead.

[Troy Millings]

Oh, yeah, no, no, but you know, when you, when you can dance, when you can sing, when you can perform, that's, that's difficult. So kudos to you. The wealth of information. The wealth of information alone was worth the price. Price of admission. Just that. Just that. If you only went to one thing the whole entire weekend. But I thought it was real detailed about, you know, new on. You talked about chat gbt. That was one of the clips that we put out.

[Rashad Bilal]

Yeah.

[Troy Millings]

Gbt. How to use chat GBT to actually, you talked about artificial intelligence. So it was real new. It wasn't like just high level talk. It was very blueprint.

[Rashad Bilal]

Yeah.

[Troy Millings]

Nuanced blueprint on actual trading, investing, the whole, the whole gambit. So first and foremost, congratulations on, on a legendary performance, man. Thank you for that. I appreciate it.

[Ian Dunlap]

Yes, sir.

[Rashad Bilal]

Thank you. Magic is a tough act of. I can't lie. I was backstage, I'm like, magic and y' all cooking. So it was first time I was nervous. Yeah. I was like, talk like you good? I'm like, I don't know. He, he rocking this, but shout out to Red Panda. Thank you to y'. All. And then I think the energy that you feel from the crowd and what I was given to them is just really an exchange of love. And I hope you guys can tell that I worked on this for six months. And the choir and just the density of. And kudos to Alicia Little. She was the inspiration. I had a little chat with her. I was like, okay, let me share some of my prompts. Like, it was a real community experience, but I hope y' all can feel. I gave my all on that stage. For real.

[Ian Dunlap]

Nah, it was incredible.

[Troy Millings]

Like I said, if. If Ian did a fire job, put fire in the chest, if he was actually there in person, you know, I love you. Magical moment right after Magic, another magical moment. So with that being said, you know, the thing. Like I said, the thing about accelerated growth, if you actually listen to what Magic Johnson said, one of the key themes that he kept saying was proximity to people that's higher than him. Like, that was something that he. He was. He was very, very keen on. When he talked about the owner of the Lakers when he first came into the league and how Jerry Buss was a billionaire, he was a millionaire, and his teammates didn't want him to have a relationship with Jerry Buss. And he said, look, he's a billionaire. You're millionaires. I'm hanging out with the billionaire. And then. And then he talked about the Prince of Monaco when he was on with the Dream Team. And, you know, he's like, look, I already know these guys. These guys are my friends. I'm trying to get to it. What you doing? And he spent three hours talking to the Prince of Monaco. He talked about the owner of Miami Heat.

[Ian Dunlap]

Yep. Mickey Harrison.

[Troy Millings]

Mickey Arison. How he changed his life when he was once again another Dream Team story. He was in. He was on a yacht. The yacht broke down, and he bought another yacht. He said, who's y' all at this, Mom? Who's whose y' all is that? That's mine. He said, okay.

[Rashad Bilal]

My lord. What?

[Troy Millings]

Yeah. So one of the things that he always kept that a common theme was that he positioned himself in life with people. That was where he wanted to be. Right. And had ins and had information that he was not privy to at that time. I say that to say it's very important to choose a community. Community is vitally important. For sure, Everybody's here is part of the Market Mondays community. But Ian obviously has established himself as the fourth prime year voice of education when it comes to investing in America. Not just not Just for black people, for everybody. And I, and I personally feel like his community, Red Pandas is that, is that community for investors. So with that being said, once a year we do this invest fest. This is annual tradition Invest festival red panda sale. Three years. We're given three years access. 50% off of what it will cost for one year. You get for three years. And that gives three year access to stock club. You get the Ian's presentation, the full presentation. You get the investing prompts to research the market, the top 10 stocks to retire, how to trade without a stop and be profitable. Review of live trades, stock call one swing entry for 60 stocks. And of course what I think is the best part about it is that you get a list of prices to buy stocks.

[Rashad Bilal]

Yep. Three prices for every stock.

[Troy Millings]

I mean to me that's, that's, that's what stock club is all about. You get three different prices like the good price, the very good price and the great price. He tells you wait till Nvidia gets to $153. If it gets to $153, put all your money into it. I don't know how you can't, you can't get much better than that. And that's the most important thing when it comes to stock investing is where you're getting into the stock.

[Rashad Bilal]

Matters a lot. That's what all the alpha is.

[Troy Millings]

Yep, matters a lot. 50 off for three year access. Three year access to stock club. 33, 36 months.

[Ian Dunlap]

That was, I mean sticking with the Magic team. How many years? He said he need cookie to give him.

[Troy Millings]

That's a fact.

[Rashad Bilal]

Three years. Get it together. You need three years to focus.

[Ian Dunlap]

Just, just give me three.

[Troy Millings]

That's a good one. Magic say yo.

[Ian Dunlap]

Just give me, don't focus on 10.

[Troy Millings]

Don'T focus on five. Focus on three.

[Ian Dunlap]

Just give me three years to lock in. Can you do these things while I go do this? If you can, we're going to be in a great position. 3 years.

[Troy Millings]

Ian invest.com 48 hour. 48 hour stock club sale. 3 year access. 48 hour sale Ian invest.com sale ends at 8 o' clock Eastern Standard Time on Wednesday.

[Rashad Bilal]

And if I made you money please can I get a yes and chat for the intro of the decade.

[Ian Dunlap]

Okay.

[Rashad Bilal]

I'm the one who got the Nvidia investment lit 2017. You know I mean great return.

[Ian Dunlap]

Shout out to everybody in the chat. People listening to us while they're driving. I just seen a couple said that they driving from Phoenix in OKC right now and they're watching this right now. Drive safe.

[Troy Millings]

I mean the work, the work, the work gonna speak for itself. Like I said, you can appreciate, you can see the comments. Anybody that was at Invest Fest. Anybody. I was at Ian's presentation. You know, you can't. Sometimes you, it's only so long. Like if you playing a role, you can't play that role forever. He's been, he'd been doing this for five years on our show. He's been doing it longer but before the Internet knew who he was. So you can't masquerade for five years. That's impossible. Maybe a month, maybe two months, maybe a year. Five years at this point, you know, he solidified the guy solidify.

[Rashad Bilal]

Yeah.

[Troy Millings]

Okay. Ian.Invest.com 48 hours.

[Ian Dunlap]

Yeah.

[Troy Millings]

50 off gets you access for three years.

[Rashad Bilal]

Has there ever been another person in history in this space that has given that kind of information? I know Kramer was before me, but if we go to an icon list, humbly. Because God did this.

[Ian Dunlap]

God did, God did, God did.

[Troy Millings]

Nobody did it quite like I did it.

[Ian Dunlap]

Nope.

[Troy Millings]

Let me, let me ask you this. $15,000 to hyper concentrate into one position or split amongst four positions.

[Rashad Bilal]

Pause. Oh, I'll get your climbed up after that. But if you don't have kids and you're under 35, I would hyper concentrate into one asset that you think would be amazing for the next 10 years if you have kids. I would lean into diversification. So I would start with indexes. Of course I will lean to Nvidia, I will lean to Microsoft. Take from that assessment, whatever you may, but I would do vo, vti, Nvidia, Microsoft and I was split it equally Amongst each other 25. And then lean on me for the entries onward to get in hope for a 10 year period and you'll be a. Okay. And then on average that 15,000 hypothetically in 10 years could turn to probably 70 or 80,000 just from the long term holding.

[Troy Millings]

So you. So you wouldn't do one position if.

[Rashad Bilal]

I didn't have kids? Boring. Some of y' all need to add some variety to what y' all be doing in real life. But hyper concentration is the way to go. Talked about that a lot yesterday. If you can find one amazing company at the right time before it's breaking out, I. E. Nvidia in 2020 or 21 to 2017. Bitcoin in 2016. Some of those are really hard to find open AI would be one of those. Anderil will be one of those. So we're at the Palantir Was there. If you can find one great position and hyper concentrate into it to the moon. I keep saying it. Hyper concentration is how you get wealthy. Diversification is to protect the wealth.

[Ian Dunlap]

Fair. That's fair.

[Troy Millings]

Yeah. You gotta hyper concentrate for sure with some level of diversification just for safety. But in life and business, focusing on one thing is always more profitable. Yeah, for sure.

[Rashad Bilal]

Can cabin slaves focus on one, Ain't it? You almost had a moment. But Kev, you gotta come back so we can finish combo.

[Troy Millings]

Oh, no, we definitely need that. We need a. We need at least 40 minutes for Kev on stage. Man, that dude is crazy, man. He's.

[Ian Dunlap]

He's hilarious.

[Troy Millings]

He's a very smart guy, for sure. Donald Trump put on Truth Social. It is my great honor to report that the United States of America now fully owns and controls 10% of Intel, a great American company that has even more incredible future. I negotiated this deal with Leputan, a highly respected chief executive officer of the company. The United States paid nothing for these shares. And the shares are now valued at approximately $11 billion. This is a great deal for America and also a great deal for intel building leading edge semiconductors and chips. Which is why intel does is fundamental to the future of our nation. Make America great. Great. Again, thank you for your attention to this matter. My thing is, how is that even legal in the United States of America? This sounds like Russia. You're starting to privatize companies. How are you, okay, how are you able to control 10 stake in. In a Fortune 500 company? You don't see any conflict of interest in that?

[Ian Dunlap]

This is how you make it happen. You tell a company or industry that you're going to make an act specifically for that industry, hence the CHIPS Act. Then you tell the American companies inside of that chip act, we're going to allocate this amount of money to you through subsidies and grants. Then you figure out which ones are going to get the most. So let's take the CHIPS Act. You say, all right, well who got the largest allocation? Intel. How much did they get? 8.9 billion.

[Rashad Bilal]

Which is.

[Ian Dunlap]

How's that been working for them? Not great. So they're gonna. They say, okay, well, we got to do something with that money that we were going to give to you. Here's what we'll do. We're not going to take it back, right? The CHIPS act is there. We're not gonna take it back. What we are going to do is we're going to take a piece of your company. We're going to take Equity, Right. We're going to take, we're not going to take any seats. We don't want to have any government governance. Right. But we are going to take the 1010 stake in the company for what we were going to give you in.

[Rashad Bilal]

The chips at shark tank deal.

[Ian Dunlap]

So if you don't take it, we're going to pull the money back. You take it in five years they tell you okay, this is, if this works out we have the option to take another 5%. So in five years the government owns 15 of Intel. Conflict of interest 1000%. We can go into that.

[Rashad Bilal]

But that's just, that's I can't believe.

[Ian Dunlap]

Face level what's happened.

[Rashad Bilal]

I'm about to take the other side of this. Go ahead and y' all gonna make.

[Ian Dunlap]

Me support because I got a question for you.

[Rashad Bilal]

Okay.

[Ian Dunlap]

Well state your claim and then I'll ask you the question.

[Rashad Bilal]

Intel has been poorly run for the last 15 years. Is it the government's fault? And just to be clear, other governments invest into their businesses. China notoriously. That's why Jack ma had to take a little vacation that he didn't want it to take. But if a company is so poorly run and what you're seeing, you can talk about deal structure and if it's right. What this does signal though is we cannot afford to lose another American brand. Going back to my assessment of you have to invest in the companies that are moving the GDP of the United States of America because the economy is very fragile, the debt is higher than it's ever been and you know it's high when they're structuring these kind of private equity deals to offset the debt that the country has. Is it a conflict of interest? For sure. Was it a conflict when Biden installed all this capital into the business which was failing because you couldn't do it with AMD or Nvidia? I think it needs to be done and I think at a larger scale they're trying to stop some of these companies from going under which will then reveal that this mid sized banking sector is in ruin and cause a collapse of scale. That's what I think is really happening. It would be a content because how are you a chip company? Amd, tsm, Sun Core, you got Constellation Energy on fire and you're underperforming usually where they'll smoke this fire. Is it advantageous for the government to do it if they like make a way to make some profit off of this and could it be nefarious? Sure. But I think they're trying to stop more bleeding and the collapse from coming in the American economy that they don't want to be revealed.

[Ian Dunlap]

I think they, they will let an American company fall. They just can't let this one fall.

[Rashad Bilal]

Can't let.

[Ian Dunlap]

Not in this space because of the industry it's in. Right. Like we can't. I think what happened with the pandemic and we could argue manufactured or not, but like that was the sign that this can never happen again. We can never rely on international companies to supply us with things that are mandatory for our economy to thrive. And so obviously intel is in that space and intel still brings generates a lot of money. It's just that future guidance for what intel will look like extremely poor. What it does do, I'm asking you the question after this is it's kind of like why we like well not like we'll put a asterisk around that. Why you might invest in a Palantir and why you might invest in a Tesla.

[Rashad Bilal]

Yeah.

[Ian Dunlap]

It's because of government backing, government funding. So if you have an intel that now has a 10, government has a 10. Does it make it more advantageous to say hey, the risk is now reduced inside of this company because of the government involvement. And my question is, are we, are we digging them out the grave? Are they no longer dead until.

[Rashad Bilal]

Yeah, they still on life support.

[Ian Dunlap]

Not dead anymore. Because this is like if they're involved it's gonna, it's here. Right.

[Rashad Bilal]

They also build out 4 before 2 and 4 stock hasn't done anything.

[Ian Dunlap]

Would they be delisted?

[Rashad Bilal]

No, no. Will intel be a thriving company as a result? No. May they move them 15 or 20 over year or three? Probably. Will it be Nvidia AMD? No. Even somebody put in a comment they have all the infrastructure micro like okay, go to job listings.

[Ian Dunlap]

Yeah.

[Rashad Bilal]

Or if you're in Silicon Valley. Most people would rather work at Pizza Hut than work at intel. Bro. It's what 50 say about Koch? That's just a graveyard.

[Troy Millings]

Okay. And so. Okay, so the HS H 3621 Rashad speaks on things he knows nothing about. This isn't illegal or unheard of. Check subjectivity. Well a. I never said it was illegal.

[Rashad Bilal]

He didn't say that for the record.

[Troy Millings]

But okay, so let's ask Chat G. Don't trust me. Ask ChatGPT. Is US ownership of intel rare? Yes, very rare. Traditionally, the United States government does not take direct equity stakes in private companies. It prefers to support industries through tax incentives, contracts and grants. The only keyword. Only the only Modern precedent was during the crisis, like a crisis like 2008 financial bailout when the treasury took equity in banks and GM to stabilize them.

[Rashad Bilal]

Yeah, go ahead after that.

[Troy Millings]

Okay, all right. Don't trust me.

[Ian Dunlap]

I think your question was how is this possible? Which is kind of like what we're explaining. This is how it's possible.

[Rashad Bilal]

It's a quasi bailout.

[Ian Dunlap]

Yeah. This doesn't happen. It.

[Rashad Bilal]

Well, it's rare. It happens in other countries.

[Caleb Silver]

Yeah.

[Rashad Bilal]

Typically until the Pizza Hut. Most people that I'm telling you from people I talk to intact, they would rather work at Darden that owns Pizza Hut than work at Intel. It's okay, just listen to the information.

[Ian Dunlap]

Pizza's not yum brands.

[Rashad Bilal]

Oh, yum. Excuse me. Yum. Okay, but it's okay just to listen to the information. If I made you money, please put yes in chat only. We only push back today. We just need love.

[Ian Dunlap]

So here's the thing, right? If, if. And the intel thing is very interesting and why it's so rare is like if there is regulation and if there is governance, do we trust the government to investigate its own company or you know, if they have a stake even in the sense.

[Rashad Bilal]

Okay, really quick because we laugh.

[Ian Dunlap]

Perhaps we do trust it because we are here. Come on man. It was, we were just phrasing the question, that's all. But when we talk about like a Tesla, right? When government contracts are awarded at a 10 stake, 11, potentially 15 stake, how does it. Andy or Micron or these American companies, how do they even compete?

[Rashad Bilal]

If, how did American companies compete against them?

[Ian Dunlap]

If they're, if they're going, if government contracts or grants are, are going to.

[Troy Millings]

Be awarded, this is what happened.

[Ian Dunlap]

You would likely think that the company that has stake or the entity that has stake is going to get superiority.

[Troy Millings]

This is, this is, this is what happens in China and this is what happens in Russia. This isn't what's supposed to happen to America.

[Rashad Bilal]

America. But going back to black swans put in chat GPT. What are the five major black swan events that could cripple the stock market and the economy? Losing a mega brand. Like, like think about it like this. Nike's down. Target is in a rut. Lululemon's falling apart. In a five year period, intel could be in that swath of companies. We could lose seven American international publicly traded companies in, in a two year period before 2027. Can't afford that.

[Troy Millings]

Well, the next question is look at.

[Ian Dunlap]

This 10 year chart.

[Troy Millings]

If the government is invested in something, they obviously have a incentive for it to do well for sure.

[Rashad Bilal]

Right.

[Troy Millings]

And they have resources to kind of make sure that they do well on a certain level.

[Ian Dunlap]

Correct.

[Troy Millings]

So should you invest in intel now? Is this, is this, is this the buy signal to buy intel stock?

[Rashad Bilal]

I would not.

[Ian Dunlap]

I, I don't and I won't.

[Rashad Bilal]

I would not.

[Ian Dunlap]

And it's not because of the involved. Like I said, the risk mitigation of having government involvement.

[Rashad Bilal]

It's a good trade out of the long term investment.

[Ian Dunlap]

Right. What they do is the reason why I wouldn't invest in it. How far they are behind in what they do is why I wouldn't invest in it. Right. Like we talked about it a few weeks ago in terms of GPUs, in terms of CPUs, where they're at in placement of innovation for the next three to five years. Yeah.

[Rashad Bilal]

I don't care. Yeah.

[Ian Dunlap]

20 billion at it. The race that you have to, to catch up is so, it's so grand that I wouldn't touch it right now.

[Rashad Bilal]

Whipped cream on Scott is still Scott. It is what it is. But, but you have to give them credit for at least trying to do something to turn these companies around opposed to just throwing money at it from like if it was just us or if it was Shark Tank or Blackstone or blackrock, no one would have an issue with this should it happen. Probably not. But we cannot. The economy is so fragile. It cannot contain.

[Ian Dunlap]

Yeah.

[Rashad Bilal]

The fallout if this company actually went under.

[Ian Dunlap]

Yeah. And it's crazy because Shout out to the chat again and I, I forgot to mention when we say the government money that really is taxpayer money for sure. So yeah. Your money. Your money.

[Rashad Bilal]

Yeah.

[Ian Dunlap]

Save American companies and put some questions.

[Troy Millings]

In chat because we are live so we, we are answering questions.

[Ian Dunlap]

Yeah.

[Troy Millings]

MIT reports that 95 of artificial intelligence investments are currently unprofitable. What does that, what does that tell us?

[Rashad Bilal]

That the AI funding bubble is coming to an end. And I think meta you guys reported on this and I put it in stock club as well. The like. Think about it like this. Two weeks ago and three weeks ago you have founders that had never sold a product and had no revenue were turning down multi billion dollar offers. I don't know where they went to business school but Rashad, if they offer up the billion something market Mondays, you can sign for me. So the bubble in terms of the large language models are done for now. There will be some, a lot of focus on sector specific LLMs and growth over the next two or three years. But every company and that's why I would say Go to best of Breeding. But once you have a category, there's only going to be a few leaders. You're not going to have 19 that are incredibly profitable even in the defense space. It's going to be the legacy defense companies. Now with the AI driven and tech driven, you're going to have Palatine. Andrew, those leaders are set. So I think everyone that comes in copying and is not the preeminent leader in that sector, they're gonna get slaughtered.

[Ian Dunlap]

Yeah, there's gonna. I think that was the exact point I was going to make and I'm glad you said it. They're going to be a few leaders and there's going to be those hyperscalers and if they don't lead, they're going to acquire the company that they think could be the potential thing that changes it. I think the reason why we see that statistic because people are trying to make the, the next greatest innovation and it takes a lot of capital to do that. Right. And I agree with you. The people who are getting the capital a lot of times don't look like us. But that, that's why you have to have things like invest fest and shout out again to Paul Judge. Investing in AI and investing in scale. But there are places where there is a rate of return and we can focus on those. I was like, all right, let me look it up. So inside of AI, what has been working now from a business standpoint, right. Customer service and service automation, why that can be. Jack told you he created technology over the weekend.

[Rashad Bilal]

Yeah, yeah. Things are taking six months.

[Ian Dunlap]

Yep. 18 months and 20 people. He did it in a weekend by himself in his house. Right. So if you can do customer service and service number one, that brings down the cost of business and it also makes it more efficient. So that has been working inside the AI space, back office operations and admin tasks. I mean we know that on a daily basis just from our personal lives, how that works and then healthcare and life sciences. So this is a good one. AI tools and medical imaging, drug discovery and clinical trial optimizations, those have been winning. If you look at the statistics of what inside of AI has been winning at a small scale that has been winning. The large scale things that the, the chat GBT of the world, that's going to take a lot of time, a lot of capital. Even when we saw with Deep Sea like. Yeah, yeah, they said it was. When you did the numbers, it actually came out to be almost 7 billion. These are astronomical numbers. If you, if you can focus on these key points and then Build on top of those. Yeah, you could be super successful. But right now, everybody's trying to find the next thing. They're trying to find the VO3. They're trying to find. You know, I'm going.

[Rashad Bilal]

But sometimes the leader is just like, put it in chat. I will invest in the hold chat GPT and open. AI has 750 million weekly users. You know, I don't remember a tech company like we're talking about. They're getting into, like, Microsoft 95 operating system 98 territory in terms of market share that they've captured. Why would you bet against that? It's insane. Even Nvidia, my love for Nvidia, for anyone who built computers like, they had 80% of market share in 2017, 2018, 2019. They've only gotten bigger. You can kind of see the change going back to the eye test. You don't see the love for Apple as much as you used to maybe 10 years prior. These are things you can see and feel. That's real sentiment. Stop betting against the winner.

[Ian Dunlap]

Yeah. Part. The other part was, do we know the real from the fake? I think we know who the real are for sure. Very clear. There will be companies that will come in as the technology gets better and be disruptive. Right. If we could find out. And that's why I think what's important inside of business, like, what's the problem can. That we can solve? Right. There will be companies that will use problems that we're not thinking of now because the technology is so great and it's so efficient and it's so expedited, that will come and do it.

[Troy Millings]

So, okay, somebody had a question. They said in the past, y' all said September is a month that historically, prices drop. Should we wait for a September drop before purchasing?

[Rashad Bilal]

The market drops every month. Yes. Buy the prices on a price that I give respectfully, humbly. But if I made you money, please put yes in chat. Yes. Bye. Every month, probably, technically, if you want. If you want to be a technician, go to the month chart, week, chart, day, chart. Talked about it yesterday. Then go to a lower time frame. There's a drop in the market every day but September. Yes, there will be a pullback, just like there was a drop in August historically, which happened last Wednesday. The thing is, when the drop happens, like if I. If I dropped 50 grand on stage and it went off and the crowd will go get it. These drops happen on a Wednesday, then y' all don't go pick up them. Not y', all, but the general public. When the market drops, please go get the money out of the market, please. But September on our first episode, I will be so happy to give you prices for whatever stocks you guys want. So tune into market Mondays, the first Monday of September and. And it'll be a free for all on pricing.

[Ian Dunlap]

Yeah, historically that has been the case, but this is a very unconventional year. So just be prepared for all of it. Right. We always talk about having reserves and being ready and dollar cost averaging into positions because hey, if Nvidia pulled down to 173, that that could potentially be that the lowest is going to be for the next two months. We don't know. Right. But we want to make sure that we invest in strong companies.

[Rashad Bilal]

Definitely. Well, one September 1st we'll be back. There is somebody same market Monday's time, same Monday market's channel to give you all the prices on the new stocks.

[Ian Dunlap]

Yeah. And we talked about it earlier about the catalyst events that could potentially continue a bull run. So just be mindful.

[Troy Millings]

Facts. And also one thing too is that you gotta have money on the sideline. So when that, when that drop does happen, you can deploy capital. Even after last week we talked about Eli Lily, I put money into that and it went up since then so far. And like Ian said, there was a, there was a drop in the market last week. Put one put money into that. You gotta look for red days, heavily down red days. And you know, you might not want to put all your money in, but you got to start deploying money in when it's a drop, a nice drop in different stocks that you're looking at with over overall market or even bitcoin. Bitcoin's down like $109,000 now. So I went from 126 to 109. So you always got to just pay attention to when things are down and, and put money in.

[Rashad Bilal]

Can I ask you a question? Aside from the stock market this weekend, what was your two favorite moments from Invest Fest and like what are lessons that you are going to take from those moments and apply to your life or business? I know it's so many.

[Ian Dunlap]

I mean I think that the. I'll give a moment that on a personal level I thought resonated Marcus Rogier shout out to him on Saturday and I had walked in and he was, I mean he's just an incredible speaker and he said something about his journey to getting to the stage and he said sometimes in life people need you to happen so that they can happen. Wow. I was like, whoa, wow. And he Started to unpack that. And he was like, let me tell you something. In my mind, I didn't think right I could speak in front of 3,000 people when I started this journey, but I did. I never thought I'd be speaking in front of 10,000 people, but I did. Why? I needed EYL to happen. I needed Invest Fest to happen. I needed them to happen for this to happen. And he was like, there's somebody in this room that is waiting for you to happen so that they can happen. So take advantage of this moment, Take advantage of this time and start. And I was like, whoa, that's how we're starting today.

[Rashad Bilal]

And he's an amazing, like, talk about pressure. What dropped an amazing speaker.

[Ian Dunlap]

He. When he came, I was like, man, that was it. That's okay. That's what we. Okay, yeah, we ain't for it today. Yeah, that was one of those just, like, quiet ones that I was like. I don't know if everybody heard it, but that one stuck with me. But, I mean, there's so many moments. There's so many.

[Rashad Bilal]

What about you?

[Troy Millings]

I mean, for me personally, it was. It was, you know, a lot of different moments. But Charlemagne, like, that's my brother. Just to see him and connect. But, you know, when Magic Johnson. We have a skybox that we walked speakers through and we showed them an aerial view of within the marketplace and what the stage looks like. We did it last year, 50 with today's array, did it with Magic Johnson this year. And when he saw the aerial view of the vendor marketplace, he was like, wow. And he was like, I never seen anything like this before. I never seen anything like this before. And then he was just like, man, like, this is. This is just next level. And you know that you, everybody, you need some level of validation. But to hear somebody who's already a billionaire, who's already a legend, who's already a global icon, you know, give that level of validation in real time and just say, like, yo, I personally, I never seen anything like this. I. I didn't even think this would be possible. I asked me, so I didn't think this would be possible. It definitely is a humbling experience, sure. But it gives a lot of validation to what's going on. So having that conversation with Magic on camera and off camera, and if you. If you look at his Instagram, I mean, powerful, you know, respectfully. Like, that was something that, like, I didn't. We didn't tell him to do that. Like, he didn't have to do that. If you go to Magic Johnson's Instagram. Look at his Instagram and then read the caption he said. What an electric atmosphere yesterday at Invest Festival 2025. It was one of the most amazing events I've ever attended and I was blown away to see over 20,000 attendees and came into the keynote with an open mind. They had also had 400 exhibitors throughout the weekend. I felt the energy, the thirst for knowledge throughout the sessions and I'm glad I was able to share my journey and give the audience business advice and take them as they all go on their journey to build their own businesses. And I just felt like that was something that was just real powerful, man. So never take that moment for granted when you have that level of excellence in front of you and you know, that's something that you know like. Like what's this? Az that jig is not six sitting with bosses. You gotta sit with the bosses to be a boy. Can't be a boss if you ain't sit with the bosses.

[Rashad Bilal]

So, so much to learn from. Yeah.

[Ian Dunlap]

Can I give up? Can I give a bonus one?

[Troy Millings]

And Jack Dorsey with the fan. First of all, Jack Dorsey has a fan in his back in. In the background and his beds on the floor. If you know. I don't know if people notice that or not, but he's in an under undisclosed location. Like I said, he couldn't physically be there. He's in an undisclosed location. This was done real time. We even had a tech glitch. And he has the most modest of accommodations. He has a fan. He has a fan in his back. He has a bed on the floor, two pillows and the bed's not made.

[Rashad Bilal]

Yep. Get to it.

[Ian Dunlap]

All I need is. All I need is bro Broadband connection fan is crazy.

[Troy Millings]

A fan that lets you know it ain't up. Like yo. That lets you know.

[Rashad Bilal]

Like it's not time to be cute. It's grinding. I keep saying even about Trump. You don't have to like him. I'm not advocating for him, but he's even this intel deal. They all are working. Elon. I'm getting back to the office. Jack, new product launch. He's in grind. That's the tech trap house. It is not time to be cute. It is build and grind mode. While we are in the middle of a technological shift. Everyone magic that performance. You would think he was auditioning for a movie or something the way he was performing on stage. There's a hunger that the 1% feel because they know that shift is about to come in 2027. According to that beneficycle, we're going to have a contraction and everyone's working their ass off to. To beat that wave.

[Ian Dunlap]

The other one was going back to Magic at the end of the panel, you know, he had everybody hold hands and let us in prayer.

[Rashad Bilal]

That was beautiful.

[Ian Dunlap]

And as he's speaking and he's. He's like talking about, he. Well, a second, I'm like, just listening to the prayer. But then he start. He's talking about us and he's talking about protecting us and he's talking about us being kings. And I'm like, I love. Magic Johnson is pouring life into us and everybody in this room, they're witnessing it. And like, for three seconds, I got emotional.

[Rashad Bilal]

Yeah. Got teary out. Yep.

[Ian Dunlap]

Oh, man, I got emotional and I had to. When he. We said. I said amen. And I was like, hold on. Get together.

[Rashad Bilal]

Yeah, it's okay.

[Ian Dunlap]

And I saw everybody, I was like, did that just happen? Right? Like, I spoke to some people in the audience after, like, I went out after in this and people were still like, like tears. They was like, this is just so beautiful. That moment's gonna live with me forever.

[Troy Millings]

And then also what Charlamagne said on stage with Steve Harvey, it's like, yo, I gotta really protect this. Because we live in a day and age where people just say anything online. And it's like, you try to destroy something and then when it goes away, what do you have? And it's like, Invest Fest is a situation that employs so many different people and has so much economic opportunity. And it's like, you know, it's hard to fully appreciate things when you. When you're in it for everybody, for people that's involved, for us, for attendees. But sometimes you just gotta take a step back and just like, damn. Like, this is actually something that's pretty unprecedented.

[Ian Dunlap]

Yeah.

[Troy Millings]

Like I said, Magic Johnson said, I'm coming next year for free.

[Ian Dunlap]

It's documented.

[Troy Millings]

That's what he said. He said, I'm coming next year for free. I rock with this. Like, this is. This is amazing.

[Rashad Bilal]

And the thing is, and just to be honest with the audience, you can feel the love. And the prayer was genuine. To lead that many people in prayer at scale and all the emotion that he gave, man, that was a beautiful thing to see in. In real time. For real.

[Ian Dunlap]

Yep.

[Rashad Bilal]

Yeah.

[Troy Millings]

Hell of a guy. I mean, he did say Michael Jordan was better than LeBron. But we're gonna talk about that later on. We talk about that on Blackout.

[Rashad Bilal]

True.

[Troy Millings]

He talked about that later on.

[Ian Dunlap]

Magic game miss. Magic game miss all night.

[Troy Millings]

Salute to bra.

[Rashad Bilal]

Shout out to Brian.

[Troy Millings]

Salute. Salute to Bra. Okay.

[Rashad Bilal]

Came to the building.

[Troy Millings]

Salute to.

[Rashad Bilal]

Yeah.

[Troy Millings]

Marcus already kind of pricing in a rate cut. So how confident can we be that a rate cut is actually going to happen and B, that it's really going to have, you know, this outlook can continue for sure.

[Rashad Bilal]

If a rate cut does happen, it's going to send the market to the upside.

[Troy Millings]

But is it, is it going to happen?

[Ian Dunlap]

90. 90. That's what they have it at. That's not 100. Who knows?

[Rashad Bilal]

The important lesson is to not try and run front run something that isn't there. You should already be. So your portfolio is going to see an uptick if there is a rate cut. But I wouldn't preemptively put, let's say the last 20 of my capital into the market hoping for the upswing. Just wait till it happens and then react accordingly to that because that can be adjusted because last week or two weeks ago it was 100 chance. Just wait till it happens. It'll be okay. But we have to be very careful about quantitative easing and interest rate cuts. That's a very delicate dance we've been playing with. And it also scares me too, that if there is a deep rate cut that people are going to throw all fundamental analysis and technical analysis out of the window and just chase gains. And that's how you get a game. Stop. Get a Zillow disaster, Moderna disaster. When the money is so cheap that people throw out any rationale.

[Ian Dunlap]

Cheap money always favors tech companies for sure. And so, and I, I want to get fed to your power. I mean, he's, I feel like he's done a phenomenal job.

[Rashad Bilal]

He's navigated well that we saw through.

[Ian Dunlap]

The pandemic for him to navigate that. For all the talk about inflation, stagflation, soft landings, look where we're at. So I mean, like I said, 90 chance from, from everything that I've read and Perplexity has sourced for me, 25, it is, is a. I mean, that's a great cut. Like they said, there's supposed to be 2 this year. Based on how he sounded, it felt optimistic that we would see it. And if we do, like I said, cheap money usually favors tech companies. And you know how much we love tech and the companies that we talk about a lot, especially in the semi space, are involved in it. So we should see a bull run.

[Troy Millings]

Ask some questions in the chat. We're gonna get to some questions. One of the questions in the Chat XRP people still have questions about xrp.

[Rashad Bilal]

Say that with your Rashad.

[Troy Millings]

No, no, no. That's the question. XRP. So XRP back down to $3 now. So all right, XRP peaked at 3.65 but now it's back $2 and 86 cents. So of course a lot of people are asking, is this the time to buy xrp? What's the long term outlook for xrp?

[Rashad Bilal]

XRP questions, whole XRP for the long term. Trump just put on True Social Today yesterday, right. That he has plans for XRP and Solana. So any investment that you believe in, please. Once again you keep shorting your long term wealth about worrying about short term analytics and news. If you truly believe in the asset, hold it for a 10 year period. Let all the court case stuff smooth out. Trump will find a way to use it, the government will find a way to use it. Like people have an issue with intel, the government's involvement in intel, but not crypto. Why so?

[Troy Millings]

Because they have ownership in intel, they.

[Rashad Bilal]

Don'T have ownership in crypto. We're not gonna lie today.

[Troy Millings]

How do they have ownership in crypto?

[Rashad Bilal]

Allegedly.B613 that will allegedly shout out to Langley. I'll leave it at that. Cool. I don't know. Nothing to say. Never mind.

[Troy Millings]

We saw AI yesterday. Did you the original one, Allen Iverson.

[Rashad Bilal]

Where? Shout out to Bubba Chuck, undisclosed location.

[Troy Millings]

In front of the hotel. He was coming in when we was going out. Matt was like, that's AI Icon, bro.

[Rashad Bilal]

Icon living.

[Troy Millings]

Yo, Bubba Chuck.

[Ian Dunlap]

Okay, another news. Ethereum hit an all time high. It pulled back, but it did.

[Troy Millings]

So here's another question, here's another question from, from the chat. Can having too many ETFs delay your growth and if so, how many ETFs? I know the master investor has said two, but if I wanted to have more, what are the industries and max on ETFs? One should have.

[Ian Dunlap]

I say four. I've always said four. I know Ian had two tattoo index. I said mine's always going to be my table strategy. My table is going to be built by index funds and ETFs. Now you can make it a combination of two index and two ETFs. But I would say the max is four and I would say the industries that move the market. So if technology is moving the market, there goes your etf. If it's the semis, there goes an etf. I mean industrial, whatever, whatever you think is moving the market or the trend of the market that it's actually Moving. You should base your, your, your, your legs on that. And then I would put individual equities on top of that. And sometimes they come from those ETFs. Like, that is the strategy, right? If I look inside of smh, what's leading it, all right, if it's Broadcom, it's tsm. If it's Nvidia, those are the companies I'm going to be invested in because that's where the money is being invested from those funds. So I always say four is where I start and probably finish. You say, yes, sir to that.

[Rashad Bilal]

You say at some point for the audience, it's best to execute on the advice that you have and stop looking for derivatives of any advice. So this is the great part about us doing the show together. So y' all can clip it up and be like, you're eating the Troy beefing. No, no, no, no, no. But you have to realize the ETFs or indexes are anchoring device. So think of it like this. They are the brakes on the back of a vehicle that can go 700 miles per hour. That is the volatility. The tech is in the front to give you the speed, but if you get into a collision, the brakes are going to save you. I want everyone here tonight to decide, you can have too much because you're going to start to have drawdown. And I know you want safety, but you're going to look back in 10 years and be like, well, damn, I had. I know somebody who had eight ETFs. I'm like, you just don't believe in the market. You don't need to have that many ETFs and you're not a fund manager. But at this point, I've gotten to a place in my life, Rashad and Troy, where I've learned sometimes it's just best to tell people, do whatever you want to do.

[Ian Dunlap]

Yeah, yeah, I've been through.

[Rashad Bilal]

The first day we did the show, I was already free. But. And I want you to. You deserve to be rich and to be free and to be wealthy and to be happy.

[Troy Millings]

That's a fact.

[Rashad Bilal]

Make. Make. I'm. This is me. Not true, Rashad. Not Mike McDonald. Not Ab. But make a decision and hold it for 10 years. A lot of this, should I do this or that is because you have not stayed on that path. Have y' all ever said, should y' all do Invest fest again next year or market Mondays next week, just stay on a path. But 2Tech2 index has been my formulation that has brought Me, freedom and me and Troy. For the record.

[Ian Dunlap]

No, no, no. And I think it's important. What you said is like, you can do whatever you want to do, right?

[Rashad Bilal]

But do whatever you want to do.

[Ian Dunlap]

If, if you're going to do something, have a plan. So like, yeah, yep. If that's Ian's plan and his work, great. I'm just telling you, like that's what I do. Like. And it. There's a plan that's in place, right. Because if I'm looking for. Yeah, I can invest in it.

[Rashad Bilal]

I'm just not gonna let them settle the sentient between me.

[Ian Dunlap]

You, you know, saying, oh, no, no, no.

[Troy Millings]

If you do the.

[Ian Dunlap]

I'mma pray for you, man.

[Troy Millings]

If you do the ocean.

[Rashad Bilal]

Ty, cut the camera off. Go ahead, Rashad. Go ahead. We live. Leonard, I hear you.

[Ian Dunlap]

Stop.

[Rashad Bilal]

Okay, go ahead.

[Troy Millings]

If you do the ocean. If you do the ocean, Lake on strategy, then. Okay, Index Fund S&P 500. It has 500 companies from all over the different sectors. We know that the most important area of life is technology. So qqq Shout out invested with Invesco. They were at investment. Those have all. That's the etf. Because there's a difference between the index money etf. The ETF for sure has all of the major technology companies. Now. The most important thing inside of technology right now is artificial intelligence. If you look at, from that standpoint, okay, what's driving artificial intelligence chips, SMH is the etf. So you're getting specific. So if you want that strategy, it's s P500QQ smh. Because he, he did ask like what. What specific type of industry sector, etf, whatever. I think if you're going to go specific type of etf, you got to have technology. And then if you want to go, you know, even more niched down into it, I don't think, you know, you will find too much more opportunity other than the semiconductor space in the next 10, five years. So.

[Ian Dunlap]

But that's what I said.

[Troy Millings]

Yeah, go down downward. But he acts specifically.

[Ian Dunlap]

I did, I said semiconductors. I said technology. And I said, if you want to do.

[Rashad Bilal]

Okay, okay, we've been told you what.

[Troy Millings]

To invest in, but you gotta make it. You got, you gotta make it. You gotta make it as easy to understand as possible. There's multiple semiconductor et.

[Ian Dunlap]

I literally said smh bro. Qqq I said qqq bro.

[Troy Millings]

Okay, that's great.

[Ian Dunlap]

Yeah. And everybody that's in EY University, they're already in xly. They're here with us.

[Rashad Bilal]

And here's the truth. Even in ETF space, just like with the equity space, there's only 10 or 12 of those that are value. It's hyper concentration across the board. Even the international funds, there's only 12 great assets to invest in. On the equity side, maybe 12 or 15 great ETFs to invest in that are going to give you a great return.

[Ian Dunlap]

You couldn't have said that at a better time. Because if, if you're new to the space, there's ETFs that get created all the time and the most random things. And it almost feels like is this serious, like the inverse Kramer etf? Like I'm like, wait, is that a real. And it is a real thing, right? So like, just be mindful of that. Like ETFs are created all the time. Look for the, the companies. And that's why when we went over how to. To look for ETFs, we looked at the history. How long have they been around? Right? Look how long the Spider Fund has been trading. Right? Look how long Vaneck has been trading. Look at these things. These things matter, right? If it's started trading in 2025, in July, we already know how we look at stops. Exactly. Be mindful of that.

[Troy Millings]

What about somebody said crowd strike?

[Rashad Bilal]

What about it?

[Troy Millings]

Is it. Are you bullish on CrowdStrike?

[Ian Dunlap]

Yes, yes, yes.

[Rashad Bilal]

But is it okay, Is it top.

[Ian Dunlap]

10 in terms of cyber security? It's number one.

[Rashad Bilal]

Oh, no, no, no. I'm just talking overall. That's a great lesson. Invest in best of breed. Best of breed is just number one. Jordan o'. Brien.

[Ian Dunlap]

Yeah, so, but that's important, right? It. And that is a focus in AI. We talk about the innovation in AI.

[Rashad Bilal]

Yeah.

[Ian Dunlap]

We don't harp on as much as the protection inside of that space. Right. So if AI is created, there's going to be protection that needs to be created at, at that same rate. And so love CrowdStrike, love that space. We talk about a bunch of companies. I think Crosstrek is the number one.

[Rashad Bilal]

That's a great question. Doesn't the risk profile matter? Somebody in the comments asks this risk profile matter. Here's another thing, another secret that they keep from us. They always tell us what the risk profile is without telling us to return. Would you risk a 30 drawdown year to then have 900 return in eight years? So I can put you into a bond fund which will limit the drawdown. But if I told you the bond has been underwater since 2020 with very little upside. What you want to Invest in that. The tech space can give you on average, if you're looking historically, 5 to 700% depending on what you invest in on the low end. Since Inception talked about it Yesterday, Nvidia is up 72,000% the last five years. Up 5,000 something percent. Risk to reward ratio matters a lot. Would you risk $1 to then make 90? Yes. So risk profile does matter. But if you want to get wealthy, there's a correlation between the volatility of an ETF and the return you're going to get. If you have 1% drawdown, you may only get 9% return. If there's 20 drawdown, you may get 180 to 200. So you have to make sure you take that in consideration as well.

[Ian Dunlap]

Yeah. Somebody asked me about Kava Kava. I had a call on it, obviously went below my threshold, so I sold out of that call. But I, I don't, doesn't mean I don't like Kava as a company. Again, I like the structure of it. I like the space. Fast casual. I love the, that they didn't have debt. I love that they were using stores to create more stores. What I didn't like, and we couldn't foresee was what was going to happen to the amount of federal employees who were going to lose their jobs. Why is that important? Fast casual is obviously where a lot of people who work go to eat lunch. If you look at the locations of where Cava's are located, a lot of were in the DMV area. Well, do. Does that area have a concentration of federal employees? Absolutely. If those people aren't at work, then those people are not consuming the food because they're not going to those businesses. And that has hurt the stock. What I did take solace in is that I watched the CEO go on CNBC after they got hit with a 20 decline and the stock dropped under 69. And he explained it and he had conviction when he explained it and he's still talking about the innovations that they're going to have. And so it kind of goes back into that Jack Dorsey. But like that's just based on. Yeah, it says a lot for him to get up there. And I think Andrew did a great job interviewing him about it. But I still like the company. Somebody just said they just had lunch there today. Yeah. Once we start seeing those locations pick up, once we start seeing people in the workforce, like there's a firm idea of what the workforce is going to look like, especially from a federal standpoint based on what those locations are. I know, like, September is a big month, right? Like, people were going to get this stipend in the event that they wanted to stay or not stay. And September was going to be a big month when we would see that unemployment. So, yeah, those type of factors, when I'm talking about callous events, will affect the stock. But, yeah, I still like Kava.

[Troy Millings]

Oh, yeah. Shout out to Julian Brown. We ran into him at the Vendor Marketplace at Invest Fest. Yeah, that's the guy that actually the brother that he. His thing was to turn plastic into fuel. And then, remember, they had that whole thing online. They said he was missing and that, you know, where is he? Was he abducted? It was a whole trending thing on Twitter. Like, what happened to him? And he's okay? He's safe and sound?

[Ian Dunlap]

Yes.

[Troy Millings]

He popped up at Invest Fest.

[Ian Dunlap]

He did.

[Troy Millings]

Vendor Marketplace on Friday. I told him to come to VIP night and he came back on Sunday. I didn't get a chance to connect with him on Sunday. Spoke to him, but he came. So we gonna build. We gotta have him on the show. Shout out to that brother.

[Ian Dunlap]

Yeah. And after. This is great. After we got off the stage with Magic, we're in the booth and Dr. Lonnie Johnson walks in.

[Rashad Bilal]

Oh, yeah.

[Ian Dunlap]

If you don't know who Dr. Lonnie Johnson is. Look, I mean, we've covered him before. The better of the Super Soaker. Super Soaker. He was like, guys, I love what you do. I'm like, we've been looking for you. We were able to connect with him as well. That was a dope moment as well.

[Rashad Bilal]

Going back to cover real quick. Yeah. I do want to mention there is a weakening of the economy. McDonald's have stated that they're gonna make their menu more affordable. And Chipotle has been getting shellacked ever since that stock split. So we're seeing a reimagining of what retail fast casual looks like as well. It's just a sign of the economy. So I think kava's great. McDonald's is great. I think Chipotle still has a lot of value. I just think people have less money to spend overall and.

[Ian Dunlap]

Can we do something? One of our favorite people has just text us and checked his availability. He said he's. He's free to hop on. One of the. The craziest stories of Invest Fest happened. You got me. Yeah. You got me. You got me. One of the best stories of the weekend happened. And I don't think I'm the only person that heard It. I'm like, you gotta come and share it with us. Ladies and gentlemen, our good friend. Our good friend friend. The show.

[Rashad Bilal]

Hey, brother. Yes.

[Caleb Silver]

I can't believe you guys are live. After we. What an. Such an incredible weekend. If you have anything left in the tank, I. I'm still picking up the pieces.

[Ian Dunlap]

How you feeling, man?

[Caleb Silver]

I feel great. What a weekend, man. I. I haven't gotten that many hugs since my bar mitzvah. It was incredible.

[Ian Dunlap]

Caleb, you. You had an amazing panel. We appreciate you for that. Absolutely incredible. Several panels.

[Rashad Bilal]

Yes. How, how.

[Ian Dunlap]

How was the. This year's Invest Fest? You've been to a few of them. You've been to Market Mondays Live. Talk about the reception, the people, the overall feel of investors.

[Caleb Silver]

This year, man, I. It blew my mind. I just sent you guys a thank you text that I wrote like a hundred times just because I couldn't get the words out. And I've been there, I think, since year two, but I think I've been to five, if you include England. I cannot believe just the spirit of generosity and the spirit of gratitude that people have and the energy that people have. They want to learn. They can't wait to talk. They want to talk about what's going on in their lives, talk about what's going on in the markets, talk about what they heard me say.

[Rashad Bilal]

Or.

[Caleb Silver]

Or you guys say before or. Coming off a panel. I got off my first panel with the Invesco QQQ on Friday, went back to their. Their setup in the amazing exhibit hall. I was there for three straight hours. I didn't stop talking. People just kept coming up, wanting to say hi, take a picture, ask me questions, get into conversation. And that was just like, from the minute I landed, from the minute I left, even when I got back, people were stopping me in the airport. So it just never ended. And I really felt the energy like I always do, but this time, my cup runneth over. There was just so much good vibe there.

[Ian Dunlap]

Now, Caleb, we got to talk about VIP night. VIP night. If y' all don't know, Caleb is outside. He's outside?

[Troy Millings]

Yeah, with us.

[Rashad Bilal]

He's about.

[Ian Dunlap]

He's hugging, he's kissing, he's. He's everywhere. He's taking pictures. VIP night. I'm getting into the car. I see you walking. Take us through what happened to you Friday night, my guy.

[Caleb Silver]

All right, I'm walking out of. I can't remember the name of the venue. We've been there so many times. But anyway, Friday night, and there's just. Just mad Cars there and cops, and you just can't get an Uber. And everybody's waiting. Just looked like it was going to be a mess. And I've been in that situation before, and I just walked down the block a little bit, got, you know, created a little bit of space. So I was on my way to do that, and I hear this car honking at me and these guys shouting my name. Caleb Silver invested.

[Troy Millings]

Caleb.

[Caleb Silver]

So get over here. Get in the truck. Six guys, brothers from Indianapolis in a big old, like, Lincoln Navigator.

[Rashad Bilal]

Shout out to that. Oh, homes.

[Caleb Silver]

Just bumping, bumping tunes. And they're like, get over here. And I'm by myself, and I'm like, okay. I can't believe it's you. I can't believe. They got their video. Their video and me and stuff. And I was like, yo, what's up? They're like, like, you're coming with us. Let's go. I was like, all right. They get out, make room. I get in the back of the truck. They're like, Caleb's overs in the car, Kayla. And they're all.

[Rashad Bilal]

They're.

[Caleb Silver]

They're, like, going live. They're twitching.

[Rashad Bilal]

That is crazy.

[Caleb Silver]

And I don't know these guys at all. I never met any of them before, but they're like, you're coming with us. You know, we're going vip. We're going to the after party. Let's go. I was like, all right, let's go. You know what? I wasn't thinking, what could go wrong? I was thinking, what could go right?

[Troy Millings]

It's late.

[Caleb Silver]

I'm a little tuned up. I've had an incredible night already. I was very satisfied. I had a huge day on. On Saturday. I was getting ready for it. I was like, this is good. And I was like, let's just go. They take me down to seven. Meantime, the entire time we're riding in the Navigator, they're all from Indianapolis. Great dudes in real estate. A couple of them are accountants. A couple of them. I think many. A couple. All of them, I think, are part of the Red Panda Club.

[Ian Dunlap]

And.

[Caleb Silver]

And so they take me down there, and they're literally interviewing me in the car, and they put it up on their. On their Instagrams and then in the parking lot. And so, you know, way in the back there in the parking lot, I think of my. I'm gonna wind up in the trunk of seven different cars. They're asking me about deregulation, about private equity and crypto and 401ks, and I'm like, let's just. And they put it all online, too, so it's all out there to see. Walk up to seven. I'm thinking, all right, these guys are bosses. We're going in. They want to go to the after party. They can't get in. I walk up, and the people there at the door are so nice. People were so nice to me this weekend. I don't even know what was going on. Like, Mr. Caleb. Mr. Caleb, come on in. I was like, cool. And then I saw Ian, and I was like, oh, yeah, I'm gonna come in with you. And you're like, yeah, come in with me. And I was. I went in with Ian and his crew, and I turn around, and I. I go in, and I'm like, in the. In the club. I look around. My guys are not in the club, and I barely. And I just met him, you know, and they give me a ride. I'm like, whoa, what about my guys? I go back out there, and they're like, caleb, can you get us in? I was like, I don't know. Meanwhile, other people are like, come on in. You know, like, after I'd already been. They're like, come sit with us. I was like, I got my idea. Like, I don't know what to do. I go back in for a minute. I was like, no, I got to go back out and get them. I go back out and get them, and they're, like, in the line, and I'm like, guys. And all of a sudden, like, all right. And then they. You know, they. They pat them down, they come in, they get a table, they go nuts, and they turn up the party to, like, 150. But it was. It was pretty cool. And actually. And I've been on a text thread with a bunch of them just because they just loved hanging out. One of them, Nate Merryweather and his crew from Indianapolis. Great bunch of guys that was like, you know, a classic moment, but also just perfect for the weekend because people were so nice to me. I really felt. Just felt the love.

[Rashad Bilal]

It was great. Yeah. Speaks to the community and sense of unity and, like, the other love from the weekend, for sure. Yeah.

[Troy Millings]

Rockstar. You're a rock star.

[Ian Dunlap]

Rock star. Caleb.

[Caleb Silver]

I was out. I. I was out tonight earlier visiting a friend. I come out, I'm getting in the elevator, and the guy's there, older. Older black gentleman. He's getting in on his floor, and I'm going in the elevator to go down. He's like, wait a minute. Don't I know you? Don't I know you. I was like, I don't think so. He's like, market Mondays. I was like, yeah, let's go. Oh, man, I peaked. I don't know. I don't know what else to do. Like, this is it. But, guys, I. I really. I. I was blown away with it this year. It's not just the showtime aspect of it. I thought that was incredible, but I expect that from you, and I expect those people to want to be a part of this. It was the things that were happening in the booths. It was the things that were happening at the university stage.

[Ian Dunlap]

Right.

[Caleb Silver]

It was the conversations in the corridors. It was. It was just the buzz that was going on everywhere I went. Everybody just had that vibe and wanted to just learn and. And talk about it and say how much they enjoy Investopedia. And when I come on the show here. So I'm so grateful to you guys for. For letting me into the family here. It really is very.

[Ian Dunlap]

You know, you. Love you, man. You know, we love you, my guy.

[Rashad Bilal]

Thank you.

[Ian Dunlap]

We appreciate you, man. I know. You got to get some rest, man.

[Troy Millings]

Yeah.

[Rashad Bilal]

Oh, I'm sorry.

[Ian Dunlap]

Go ahead.

[Rashad Bilal]

Yeah. Yeah. I have one question. I actually want to start earlier, but what were your two biggest takeaways from this weekend that you want to implement into one, your life and. And two, into the business?

[Caleb Silver]

Well, you know, for. Just on a. For selfish reasons and for Investopedia, it's crazy how strong that brand still is 26 years later.

[Rashad Bilal]

Yeah.

[Caleb Silver]

And for all the information people can get in. Are getting. And you talked about it in one of your talks, Ian from Chat GPT and how to use it, which is definitely an issue.

[Rashad Bilal]

The.

[Caleb Silver]

The people still come to invest a p. They still rely on it. They still trust it. And that fact that the brand still has that place in people's, you know, hearts and minds means so much to me. And the fact that I can represent it. That's super cool. I love it.

[Rashad Bilal]

It's.

[Ian Dunlap]

It's.

[Caleb Silver]

It's the honor of my lifetime on the. I. I always love the conversations I have with people, like, away from the stage, when everybody just wants to talk and what so many there was. It's always the range of the white belts to. I'd say that maybe the brown belts of people who are just starting. They're like, I really want to start. This is my first invest fest. I came here to learn how to do this. How do I start? Or look at what I did. Show me. Literally people showing me their portfolios. Am I good? Right. Did I do this? Right. Am I doing this right? And the beautiful thing is a lot of them are actually in good shape because a lot of them have been listening to you guys for a while and they were citing you and things that they learned on the show. So that stuff's sticking with people and they're actually taking the steps what I think where I bring value. And the thing that I found most valuable is how much tactical information people actually want.

[Rashad Bilal]

Right.

[Caleb Silver]

It's one thing to have, you know, high level conversations about, you know, hustling and building your wealth and generating these sources of income and finding different ways to do it, but I still.

[Rashad Bilal]

Pe.

[Caleb Silver]

Still think people really want. Step by step or tell me I'm good. Yeah, tell me I'm good. The more tactical, the more practical, the more. Let me make sure I am doing it right, I think the better because it goes really well with everything else. Because everything else is inspiration. Right, Right. And. And there's education there too. But actually show me, I think is probably the most important thing. And I was really hoping for that this year. And I got it. I got it a thousand times over. Not just when I was delivering on stage and with my terrific panels, which were awesome, but in, you know, the 500 conversations I've had, which is where my voice went.

[Troy Millings]

So I can't let you leave without just asking a question about the market. You. Actually, we was together on Friday. It was like you told me that when PAL had announced that he potentially could have raised cuts and stock market went up. So. And then also we just announced today that, you know, Trump said that the U.S. now owns 10 of Intel. So. Okay, two part question. The first is the United states government owning 10 of Intel? How do you feel about that? We talked about it early, but I'd be interested to know your perspective.

[Rashad Bilal]

Right.

[Troy Millings]

Yeah. Is this something that can be a precedent that can be set for more companies in the future? What's your thoughts?

[Caleb Silver]

Yeah, they do that in China. That's the way things go over there. It is so unrepublican of them, but I don't really think these are Republicans. They may be Republican in Republican conversation. Yeah, but they're supposed to not be involved in business. You got this administration telling Coca Cola what kind of sugar to put in Coca Cola. You got them telling them that they have to pay 10 to 15 vig on sales to China if they want to play ball in China. That money's coming where? I don't know where the. Wherever the tariff money is going to. They're wanting to Take, you know, minority stakes, which could become majority stakes. And you heard Howard say, this is just the beginning. We're going to take stakes in a bunch of companies, in private companies, and you know, where is the line? There is no line with this administration. And while that sounds okay, because you're like, hey, the government's backing it. The full faith and credit of the government is behind this. And, and that's what the, you know, America's been all about. When you think about the bond or you think about the dollar. Well, I don't think we want the full backing in the full faith of government behind some of the most revolutionary companies and important companies in the world right now who are supposed to be out there in free enterprise, in a, in a free capitalist society, profit returning it to shareholders, taking care of their employees, taking care of their customers, hopefully taking care of the environment. But if we have the government in there, you know, with its hands in its pockets, I don't, I don't think that ends well. And maybe I'm being naive and Pollyannish, but I've seen this, the way this works around the world, and it's not good. It becomes a very closed market and investors lose the most important thing that we have. And that is the five letter word of trust. No trust. Right. No trust, no allocation. And I really worry that we're on our, on a path to that. Other than that, I think fine.

[Ian Dunlap]

Nothing to worry about. Yeah. I'll ask you. My final thing is, you know, obviously when you're at Investor, as you're giving a lot of information and you're part of panels as well, and you're giving information, was there anything as you sat there as a spectator that you learned that you, you could share?

[Caleb Silver]

Yeah, I don't know a lot about real estate, but I learned a lot from Matt and, and, and everybody else. I thought some of those panels were fascinating. Not just the investing in Africa, which is just mind blowing, and you guys are, are already steeped in it, the possibilities for generating income and the different ways of navigating tax structures and the capital, the tax cap rates. I learned a lot about that, more than I was expecting to, probably because I was following panels that were on that so that I was tuned into that to a pretty good degree. The your talk, Ian, on how to use AI to help you improve your trading, I think is super necessary. That's like one of those things where it's like you can avoid it if you want, but the elephant is not just in the room. It's Sitting all over the couch.

[Ian Dunlap]

Yeah.

[Caleb Silver]

Taking a shower and eating your food. So it's in there. You better learn how to use it. Otherwise you're going to be one of those people that just blames the fact that this technology came and. And took everything over and. And you had. You couldn't do anything about it. I thought that was super empowering. There were a couple panels at least that. That got around that a little bit. And then my guy who led your crypto panel teaches it for Eyl Austin.

[Ian Dunlap]

Austin.

[Caleb Silver]

I learned a ton from him. I put him on my podcast because he. I just thought he was full of information, a wealth of information. Really good at explaining it. You know, he. I could just tell how much joy he gets in being an educator, but he taught me some things about what's happening with it with stable coins that I wasn't aware of. And then I had a couple conversations, literally in the corridor about people who knew more about the arb that was going on between the stable coins. Given the genius act and the stablecoin act and what was possible from a trading perspective and why assets were moving in various directions. I was like, okay, here, you take the. You take the next chef. You got this. So a ton of good stuff on crypto real estate and. And using AI.

[Troy Millings]

Appreciate you. Appreciate you. Thank you again, man. Stop by invest for. Yeah, Caleb, always great to see you.

[Caleb Silver]

Always a good vibe. Appreciate you.

[Troy Millings]

Thank you, man. Appreciate it.

[Ian Dunlap]

Thank you, Caleb, man.

[Troy Millings]

All right, there he goes.

[Rashad Bilal]

Kayla came and kicked it on Friday. We had a good time.

[Ian Dunlap]

That's really. My God.

[Rashad Bilal]

Yeah. A good person.

[Ian Dunlap]

Shout. Yeah. Shout out to Austin. We didn't even talk about the Eyl University stage, but that. I mean, I was blown away. Just absolutely blown away. The Ash Cash and.

[Rashad Bilal]

And.

[Ian Dunlap]

And Trader Truth and reason that the way the room looked, the. The crypto panel, the china, the tech. I mean, that china panel, I mean, packed. Shout out to my brother Twee. You know, he had a real estate panel. It was absolutely ridiculous. I was extremely blown away and proud of Magda. Steph room. That was incredible to see, man. It was phenomenal, man. Just blown away by it.

[Troy Millings]

All Nicole B85 said, is Caleb single? Asking for a friend.

[Ian Dunlap]

I shoot him a text.

[Rashad Bilal]

That's my dog, yo.

[Ian Dunlap]

I'll show him a text.

[Rashad Bilal]

She didn't get a chance to do a shot when she's at the, you know, I mean, Lavenue. Okay.

[Ian Dunlap]

Love Jamaican food. If you can cook.

[Rashad Bilal]

I'll.

[Ian Dunlap]

I'll let him know.

[Troy Millings]

You never know.

[Ian Dunlap]

Everything earned.

[Troy Millings]

But yeah, shout out to Caleb, man. Good, dude. Okay, okay.

[Ian Dunlap]

Shout out to them dudes for getting him there safe. We appreciate y'. All.

[Rashad Bilal]

Nap time. Thank you for holding Caleb down. Indiana.

[Troy Millings]

Shout out to Nabtown. Kendra G. Had the day and she had a dating show and invest fest.

[Ian Dunlap]

Kendra G. Had a moment. If you were in, if you. If you were there, you know, if you know, you know. That was a moment. That was a moment. She was incredible.

[Rashad Bilal]

Tonight's conversation.

[Ian Dunlap]

What's good?

[Rashad Bilal]

Yeah, my guy.

[Ian Dunlap]

It's popped up on us. Shout out the head.

[Troy Millings]

Pause.

[Rashad Bilal]

Come on, man.

[Ian Dunlap]

Dj, why is that a pause?

[Rashad Bilal]

You gotta say, come on, bro.

[Ian Dunlap]

Why do you have. No, no, no. You explain to me that. Why would I say pause to that?

[Rashad Bilal]

Okay, yeah, I'm listening now.

[Ian Dunlap]

I'm listening. Floor is yours. Why would I say. I said shout out the head.

[Rashad Bilal]

Chad. What you think?

[Ian Dunlap]

Leave it up. The chat.

[Troy Millings]

Pause.

[Rashad Bilal]

Let's be mature. No, we're gonna have fun today.

[Ian Dunlap]

Sorry, Simba.

[Troy Millings]

Pause, pause, pause, pause.

[Ian Dunlap]

All right, I'll pause it. Fine. Who said pause in the background over there, Ian.

[Troy Millings]

Flagrant pause. Hell. Applause.

[Ian Dunlap]

That's flagrant.

[Troy Millings]

Hella, Hella pause. Hella pause. Major pause.

[Ian Dunlap]

Yo, somebody said they get my argument on Wowzers.

[Troy Millings]

Big pause.

[Ian Dunlap]

No, see, they said, now. You good. You good. They saying I'm good.

[Rashad Bilal]

The sentiment.

[Ian Dunlap]

That's a reach.

[Rashad Bilal]

Look.

[Ian Dunlap]

Look at y'. All. That's a reach.

[Troy Millings]

Helip.

[Ian Dunlap]

Why don't you read the other ones?

[Troy Millings]

I'm read. I'm reading it.

[Ian Dunlap]

They right here.

[Troy Millings]

Oh, man.

[Rashad Bilal]

What we can do? Somebody copy the last 1 minute copy and paste it. Put in chat GPT and tell me what the percentage is as pause versus no pause.

[Ian Dunlap]

Get the percentage rate.

[Troy Millings]

Get the percentage.

[Ian Dunlap]

Yeah. Nah, the Russell, we got to chat with him. So many people, man. I didn't. I didn't get the chance.

[Rashad Bilal]

I'm like. I didn't see Trey either. My Lord.

[Troy Millings]

Yeah, Shout out to Johnny thing. I need a grill just for the bottle. I'm gonna get the.

[Rashad Bilal]

Okay.

[Troy Millings]

Yeah. Custom. He said too easy. I thought he was like, too easy.

[Rashad Bilal]

Yeah, the whole team.

[Troy Millings]

I see Dave shands with a girl. He got the bottom.

[Ian Dunlap]

I thought I saw that. Dave changed, man.

[Troy Millings]

I go to Houston. I go to Houston. I need the grill.

[Ian Dunlap]

They said the ladies get my point. Shout out to all the ladies. No, I gotta give a huge shout out to some of the vendors. Obviously, we shout out somebody to go. Who won the vendor booth? St. Perry. St. Perry. Shout out to you. The merch is a phenomenal. It's phenomenal. You ran Me down. I didn't get a chance to go back to the booth, but I did get the merch. I got some stuff for you as well. Coca's cookies shout out to you every VIP night. She makes sure I have a stash of cookies just in case I didn't eat. So she gives those to me. And of course, I'm wearing it right now. My brother from the 504. Which way is it?

[Rashad Bilal]

This way.

[Ian Dunlap]

My brother, man. 20 years of Katrina. The line is out. If you don't know, go check them out. Good brother, good line. Emilian. That's my dude, man. Keep going. Keep killing it, man.

[Rashad Bilal]

Shout out to wild things as well. Too.

[Troy Millings]

Wild things.

[Ian Dunlap]

Wild things. Yeah. Fire. Thank you, World vision. Shout out to the world vision team. Our gods. They show up every year for us and they got some really, really quality stuff, man. Shout out to the guys.

[Troy Millings]

Do remember being done.

[Rashad Bilal]

I need to zipline next year though. For real. All insurance covered. I talked to the A B team.

[Ian Dunlap]

You know, they came and talked. They said, they told me what you want to do for the next year. I was like, we're gonna need a.

[Rashad Bilal]

Bigger building for sure. I want to pit a fire around me. Boy, you're gonna go crazy. Okay.

[Troy Millings]

Ian's invest fest situation legendary. Full replay is will be available to anybody that takes advantage of the three year stock club sale. Three year stock club sale. So stock club entries, calls price points on when to buy, top 10 stocks to buy for retirement. The whole gambit, it's a community that's been based around making people an extreme amount of money into the market. And this is you can invest your 401k. This is how to invest IRA. This is how to invest brokerage. This is how to invest. You know, the whole gambit, it literally tells you the price to get into the stock. That's kind of. I don't know how else to much say it, but we've been talking about stock club pretty much every week for the last five years. So once a year we do this 48 hour sales. 48 hours is two days if you're not familiar. So it ends on Wednesday. 50 off of a one year price. And that's good for three years. That gives you access to the stock Club for three years. Go to ianinvest.com to take advantage of the limited time offer on stock club.

[Rashad Bilal]

So because I'm doing this deal, can I get my pedophile next year?

[Ian Dunlap]

The pyro alligators.

[Troy Millings]

Yeah.

[Ian Dunlap]

Big week. And video on Wednesday. I don't think we need to say anything else about that crowd Strike is great as well. I know it's back to schools coming up for a lot of people. If your kids already started school, Blessings and mercy on all the educators, man. Y' all are greatly needed and greatly appreciated. Have an amazing year and shout out to everybody. Shout out to our families, man. Shout out to our family. But they. They deal with a lot to make sure that these things are possible. They sacrifice a lot. So I appreciate everybody that. That keeps that in consideration. I know people ran up on my wife and said, thank you for sharing us with them.

[Rashad Bilal]

Who said that?

[Ian Dunlap]

What they look like? Nah. But seriously, we appreciate y' all all, man. Love is love.

[Rashad Bilal]

My final shout out. Of course. Yomi, I love you dearly. Thank you for catching the fire. But to Amara, I got the painting. I trust you. I love the hustle. She camped out since Thursday to get me to painting. I love the energy. I appreciate you. I appreciate all the work that you put into it. You are amazing. But I loved her hustle to be to pro. Use that as a promotional tool. Get on stage Saturday, Shout out to Miss basketball for getting her on stage. But I appreciate you and thank you for the gift. Great way to go viral. I see you. I love it.

[Ian Dunlap]

Now. That was fire. Got your birthday up there.

[Rashad Bilal]

Yeah, that was dope. Oh, she just text me, hey, I appreciate you.

[Ian Dunlap]

Oh, wow.

[Rashad Bilal]

And you know what? I'm gonna put you in stock club for free.

[Ian Dunlap]

Wow, there it is.

[Rashad Bilal]

Let me find a way to get back to you. You gave me. So let me give to you over Deliver.

[Ian Dunlap]

We appreciate that, man.

[Rashad Bilal]

And kudos to Magic Johnson. You got me sweating bullets, my boy.

[Troy Millings]

Hard act to follow, but you definitely delivered.

[Rashad Bilal]

Thank you.

[Ian Dunlap]

Yeah, man.

[Rashad Bilal]

I appreciate y'. All. For real.

[Troy Millings]

It's a great tune into Blackout this Wednesday at 10 o' clock Eastern Standard Time. We back Blackout and Charlamagne.

[Rashad Bilal]

Call in.

[Troy Millings]

Oh, and we do have a guest. Joey. Joey Badass.

[Rashad Bilal]

I know you was gonna reveal it, but okay, let's get to it.

[Troy Millings]

Yeah, Joey. Joey Badass will be our guest for Blackout this Wednesday. Good, dude. And then Thursday, Earn your leisure. Six o', clock. We have a guest. Gary Vee. We got Gary V on Thursday. Joey badass on Wednesday.

[Rashad Bilal]

7Pm Central. Let's get to it. Breaking down the slides, giving you some more detailed information. If I made you money, please put yes in chat. I appreciate y', all. For real.

[Ian Dunlap]

Yeah, man. Shout out to everybody that has a birthday this week. Love is love. Shout out to my brother, Boo. We appreciate you My brother. Clutch performance yesterday. We appreciate you. Yeah, man. And how this works, man. We'll catch y' all on Wednesday. Take care of each other. Take care, huh?

[Rashad Bilal]

We gotta go.

[Ian Dunlap]

No, I got. We gotta probably get some sleep at some point.

[Rashad Bilal]

True. Let's do one final bonus round question. Put in chat real quick. There's a final question.

[Troy Millings]

The bonus round question.

[Ian Dunlap]

Here we go. Lightning round. You got five seconds to answer it first.

[Rashad Bilal]

Okay, Got you.

[Ian Dunlap]

All right. Let's do it.

[Rashad Bilal]

Is intel really dead or. No questions coming in.

[Troy Millings]

No questions.

[Ian Dunlap]

Damn.

[Rashad Bilal]

Okay. Well, thank y' all for coming out. God bless. Good night.

[Ian Dunlap]

Yeah, man. We see. We see y' all Wednesday, man.

[Rashad Bilal]

Love y' all dearly.

[Ian Dunlap]

Take care of yourselves.

[Rashad Bilal]

Adios.

[Ian Dunlap]

And we going, man.

[Troy Millings]

Peace.

[Rashad Bilal]

Damn. Michelle. Already.

[Ian Dunlap]

They blew the team.

[Troy Millings]

Apple or Microsoft Still. Somebody asked the question. Apple or Microsoft? Oh, Apple and Microsoft still. Is it Apple and Microsoft still Is Microsoft and Nvidia. Microsoft and Nvidia. Not Apple and Microsoft. Microsoft.

[Ian Dunlap]

You updated it? Yeah. That's a new update. That's the update. Update your software.

[Rashad Bilal]

All right.

[Troy Millings]

They need to.

[Rashad Bilal]

And go buy something.

[Ian Dunlap]

There it is.

[Rashad Bilal]

Sitting on all this cash and won't spend no money, bro. What are you all doing? Pissing me off. December 1 book. Nothing is over with.

[Ian Dunlap]

They said give your dad main stage. That room was. We even get to that. You want to talk about. Packed every seat and the. You know, people. I mean, we. Yeah, we'll save that, but. Incredible. Shout out to every the way y' all showed up for financial education to better yourselves. Never seen anything like it.

[Rashad Bilal]

Yeah.

[Ian Dunlap]

Kudos to y'. All.

[Rashad Bilal]

I'm thankful.

[Ian Dunlap]

My next option call. I'm cooking something. I'm cooking something. I'm cooking.

[Rashad Bilal]

There's no intel alive. Intel's the dead man walking. I told y'. All it was you crazy. You can't believe until then.

[Ian Dunlap]

Okay.

[Rashad Bilal]

Here we are. Fake news. Love the blacks. Love the butcher Shot. Love the blacks.

[Troy Millings]

Yeah.

[Rashad Bilal]

Get Trump on stage.

[Troy Millings]

That's a fact. Donald Trump will be headlining Fast Fest 2026. Perhaps now. Thank you for your time and consideration.

[Ian Dunlap]

For real to this matter.

[Troy Millings]

Oh.

[Ian Dunlap]

Oh, man. Shout out to chocolate. Shout out to Chocolate. If. If you saw us at the Africa panel. I know. Shot. You had it on.

[Rashad Bilal]

Oh, okay.

[Ian Dunlap]

Yeah. Shout out to Chocolate. He had a fashion show yesterday in the vendor marketplace brought to you by Ms. Business. Fashion show was incredible. He had a actual fashion show at Invest Fest, man. First time ever. Shout out to Chocolate. Shout out to. To the entire Ghana team. Alvin Kwame, everybody that pulled up on us, man. Incredible, man. Incredible. I'm gonna actually decompress and think about what just happened.

[Rashad Bilal]

For sure. Stock club. You'll get the slides first if you go to join RedPanda.com in a week. You guys will get the slides after that, but stock club members will get it first. If you want to join, go to Ian invest dot com. I love you. Ideally Detroit. Rashad Mike ab I'm proud of y'.

[Troy Millings]

All.

[Rashad Bilal]

This is. I was talking to Charlemagne before this, like, for 10 years ago, going back to 2015. It would have been a miracle to get a thousand of us in the building to talk about this. I was telling. I'm like, I usually go to conferences and everybody. Are you to help?

[Ian Dunlap]

Dead.

[Rashad Bilal]

Dead ass. Serious. So to see a building full of us in unity and in love. And that's my parting thing. Just give back to the community and be loving like magic was a prime example of that. I want to tell y' all, thank y'.

[Ian Dunlap]

All.

[Rashad Bilal]

I'm proud of y'. All. It's an amazing weekend. I'm glad to be able to get some rest now. I know y' all are too, but thank y' all for real.

[Troy Millings]

No, I appreciate you, my brother. I appreciate it. 25, 000 people. Let the record reflect history has been made. Invest Fest 2026. The headliner will be Donald Trump. And allegedly.

[Rashad Bilal]

Oh, my God.

[Troy Millings]

Cancel me now. Cancel me now. Let's get it over.

[Rashad Bilal]

Don't speak that. Your heavenly Father, we come to you today is in the moment. Lord God is good and all the time. My boy, please.

[Ian Dunlap]

Oh, man.

[Troy Millings]

Appreciate y', all, man. Thank you so much.

[Ian Dunlap]

Wednesday, 10 o'. Clock. Man tap in love. This is the story of the one. As a maintenance engineer, he hears things differently. To the untrained ear, everything on his shop floor might sound fine, but he.

[Rashad Bilal]

Can hear gears going grinding or a belt slipping.

[Ian Dunlap]

So he steps in to fix the problem at hand before it gets out of hand.

[Rashad Bilal]

And he knows Granger's got the right product.

[Ian Dunlap]

He needs to get the job done.

[Rashad Bilal]

Which is music to his ears.

[Ian Dunlap]

Call clickgranger. Com or just stop by Granger for the ones who get it done.