The MeidasTouch Podcast Summary: "Trump Makes Stunning Admission in Stock Report"

Release Date: February 18, 2025

Introduction

In the episode titled "Trump Makes Stunning Admission in Stock Report," the MeidasTouch brothers—Ben, Brett, and Jordy Meiselas—delve into the financial disclosures of Donald Trump's media company, Trump Media. Through a blend of incisive analysis and brotherly banter, they unpack the startling revelations from Trump's own 10-K annual report, highlighting the company's significant losses and declining revenues. This episode underscores the brothers' commitment to supporting democracy by holding influential figures accountable using primary sources.

Trump Media's Financial Struggles

Jordan Chariton's In-Depth Analysis [01:01 - 06:52]

Jordan Chariton spearheads the discussion by dissecting Trump Media's financial performance as detailed in the company's 10-K filing for the year ending 2024. He presents a stark picture of the company's financial health:

• Revenue Decline and Losses: Trump Media reported a total revenue of $3.6 million for the year, coupled with losses exceeding $400 million. Jordan emphasizes, “Donald Trump is saying the things that I'm about to tell you. It's not me... So we finally got Donald Trump's 10k for the year ending in 2024 and it is just shocking what a bad business person he is” (01:01).

• Poor Balance Sheet: Highlighting the company's balance sheet, Jordan remarks, “It's one of the worst balance sheets I've ever seen” (03:45), casting doubt on Trump's financial acumen.

• Historical Business Failures: Jordan enumerates a series of failed ventures associated with Donald Trump, including multiple bankruptcies of properties like Trump Taj Mahal and Trump Plaza. He points out, “While all of the foregoing were in different businesses than Trump Media, there can be no guarantee that Trump Media's performance will exceed the performance of those entities” (02:30).

Impact of Rising Inflation on Trump Media

Detailed Risk Factors [08:44 - 16:19]

Jordan continues by exploring the risk factors affecting Trump Media, particularly the impact of rising inflation:

• Inflation Concerns: Quoting directly from the 10-K, he states, “Donald Trump, in his own 10k annual report says rising inflation in America in the future under his administration will cause harm to the future economic prospects of Trump Media” (08:44). He contrasts this with Trump's promises, asking, “What did Donald Trump promise on day one that Inflation would go down right away” (10:15), referring to Trump's pledge to curb inflation once in office.

• Operational Challenges: The report mentions potential increases in the cost of revenue and operating expenses due to inflation, which could negatively impact Trump Media’s growth (08:50).

• NASDAQ Listing Risks: Another significant concern raised is the possibility of Trump Media being delisted from NASDAQ due to failure to meet listing standards. Jordan warns, “If NASDAQ delist Trump Media securities from trading on its exchange... Trump Media and its security holders could face significant material adverse consequences” (10:50).

Contradiction Between Trump's Promises and Company Performance

Ben Meisel Highlights the Discrepancy [11:03 - 16:19]

Ben Meisel joins the conversation to draw parallels between Trump's campaign promises and the current state of his business ventures:

• Broken Promises: Ben plays a clip of Trump stating, “So when I win, I will immediately bring prices down... we're going to drill, baby, drill” (11:03). He contrasts this with the company's current financial struggles, arguing, “He is a fraud. He is a con artist. He is a liar” (11:13).

• Economic Mismanagement: Addressing the broader economic issues, Ben criticizes Trump's inability to manage his own business, questioning his capability to govern a country effectively: “Trump can't even run his own digital media company. You think he can run a country? Are you kidding me?” (12:00).

• Stock Valuation Concerns: Jordan further elaborates on the flawed valuation of Trump Media’s stock, suggesting that the company may be undervalued or heading towards bankruptcy despite its current market cap. He states, “with Trump in the Oval Office and using it to get out his messages or propaganda” (15:30).

Historical Context of Trump’s Business Practices

Examination of Past Failures

Throughout the episode, Jordan provides a historical context of Donald Trump's business practices, citing multiple failed ventures to underscore a pattern of financial mismanagement:

• Bankruptcies: From the Trump Taj Mahal in 1991 to Trump University in 2011, Jordan lists numerous instances where Trump's businesses filed for bankruptcy, emphasizing, “Have you ever heard of someone who's bankrupted more businesses than that?” (04:20).

• Licensing Failures: He highlights failed licensing agreements, such as Trump Vodka and Trump Mortgage LLC, pointing out that these ventures ceased operations shortly after their inception (05:10).

Evaluations and Predictions

Future Prospects for Trump Media

Jordan offers his assessment of Trump Media’s future, grounded in the financial data:

• Valuation Estimates: He estimates the company's valuation could be as low as $10 million to $30 million, a fraction of its current market cap, labeling it as “quite literally a penny stock” (14:50).

• Potential Bankruptcy: Given the ongoing losses and declining revenues, Jordan posits that bankruptcy is a looming threat unless drastic changes are implemented (15:10).

• Comparative Analysis: Comparing Trump Media’s performance unfavorably against industry standards, Jordan asserts, “One McDonald's franchise, not all of McDonald's, like one McDonald's franchise does significantly more revenue than what Trump Media made you” (04:50).

Closing Arguments and Call to Action

Advocacy for Accountability

As the episode winds down, Jordan reinforces the need for accountability and informed decision-making among listeners:

• Encouraging Critical Evaluation: He urges listeners to verify information themselves, stating, “I'm reading you Trump's own words from his company, from his company's report” (02:00), promoting a fact-based approach to understanding political and financial matters.

• Supporting Democratic Values: The MeidasTouch brothers reiterate their commitment to supporting democracy by exposing inconsistencies and holding powerful figures accountable through meticulous analysis.

• Engagement with the Audience: Jordan closes by inviting listeners to subscribe and stay informed, emphasizing the importance of collective awareness in upholding democratic principles.

Conclusion

In this episode, the MeidasTouch brothers provide a comprehensive and critical examination of Donald Trump's media company, unveiling significant financial mismanagement and raising concerns about the future viability of Trump Media. Through detailed analysis of primary sources and historical business practices, they offer listeners a nuanced understanding of the intersection between business performance and political influence. This episode exemplifies the podcast's mission to blend humor, brotherly camaraderie, and deep political discourse to support and defend democratic values.

Notable Quotes with Timestamps

• Jordan Chariton [01:01]: “Donald Trump is saying the things that I'm about to tell you. It's not me... So we finally got Donald Trump's 10k for the year ending in 2024 and it is just shocking what a bad business person he is.”

• Jordan Chariton [02:30]: “While all of the foregoing were in different businesses than Trump Media, there can be no guarantee that Trump Media's performance will exceed the performance of those entities.”

• Jordan Chariton [04:50]: “One McDonald's franchise, not all of McDonald's, like one McDonald's franchise does significantly more revenue than what Trump Media made you.”

• Jordan Chariton [08:44]: “Donald Trump, in his own 10k annual report says rising inflation in America in the future under his administration will cause harm to the future economic prospects of Trump Media.”

• Ben Meisel [11:03]: “So when I win, I will immediately bring prices down... starting on day one, we will end Kamala's war on American energy and we will drill, baby, drill.”

• Jordan Chariton [11:13]: “He is a fraud. He is a con artist. He is a liar.”

Additional Resources

For listeners seeking more in-depth analysis and ad-free content, the brothers recommend subscribing to Midas Plus Substack, which offers exclusive articles, reports, and daily recaps from Ron Filipkowski.

Note: All financial figures and statements are based on the transcript provided and reflect the hosts' interpretations and opinions.