Global politics and local markets. Our financial voice Leonard Raskin discusses what the bombs in Iran and war in the Middle East will mean to the American financial markets.
Nestor Aparicio and Leonard Raskin discussed various topics, including summer activities, crab cakes, and financial markets. They highlighted the logistics of hosting crab cake tours and the challenges of managing crab inventory. Leonard shared insights on the minimal impact of wars on financial markets, citing historical examples like World War II. They also explored the role of AI in financial advice, with Leonard noting that while AI can assist, human expertise remains crucial. Additionally, they touched on the economic impact of global politics, the resilience of American manufacturing, and the importance of capitalism in creating wealth and opportunities.
SUMMARY KEYWORDS
American financial market, war drums, crab cakes, summer activities, beach house, pool, AI integration, financial advice, market stability, World War II, economic impact, manufacturing industry, Baltimore, sports, capitalism.
SPEAKERS
8
Nestor Aparicio, Leonard Raskin
Nestor Aparicio 00:01
Welcome home. We are W, N, S, T am 1570 Taos in Baltimore. We are Baltimore positive getting through these hot summer days and hot summer months. They went from 50 to 100 like overnight. I’m gonna be out of readers, crab ass. They’ll have the crab steamed out there. And then here they got a nice crab cake. Everybody’s been calling me up say, Come eat my crab cakes, and we’re going to be out in Reisterstown, Back to the Future scratch Austin, the Maryland lottery. We’re on the road with our friends from coffin state as well as liberty, pure solutions, curio, wellness, and, of course, Raskin global. And Raskin is going to be joining us in this segment. I just want to let everybody know where the crab cake tours on a little bit of a hiatus for the fourth week, we’re going to go double duty. The following week, we’re going to be at deepest squales, down in Canton, with a whole bunch of great guests. That’s on the morning of the eighth, that’s Tuesday, and then on Thursday the 10th, we’re going to be at Costas in Timonium, at the racetrack, in a location where Leonard and I did the show when it was Nick’s grandstand grill, the Costas folks there. And here’s I got to give you a warning, lender before I bring you on here, because I know you live not too far from Costas. You drive to Dundalk and get crabs at Costas, and you’re thinking I was going over to Timonium meet crabs now. No, yeah, there are no well, so this was all explained to me, and I’m gonna make Pete explain it to you, since you’re booing it, that there’s just so much, hundreds of 1000s of dollars that need to be spent for refrigeration and storage, not to mention Steamers. It’s it, yeah, Pete said to me, it’s a whole different world doing crabs. And we’ve been doing them in Dundalk 50 years, and we built it out. We built a special room, right? And in order to redo that room in Timonium, now I’ve got to get twice the inventory crabs. I don’t make crabs. You don’t order them from Cisco, correct? They don’t just come in chicken cutlets. You know, I’m saying like so and as Mr. Bill at fade least, Mr. Bill Devine Damis, Dad said to me, the first time I met him, the first time I had him on the air, maybe about eight years ago, when fade least, came on as a sponsor. We’re talking Baltimore positive. He said to me, you know, crabs are still the only thing in the world I know of that can’t be farmed. They have to be caught in the wild. There you go. We farm oysters, we farm salmon, we farm cafe. You can’t right? So, you know, having more crabs in Timonium. Hey, man, I hear it. Drive to Dundalk. You need to do it anyway. We need down
Leonard Raskin 02:23
there. Get it. I get it. Crab cake with me. All set. You can bet the
Nestor Aparicio 02:30
ponies. You can do anything you want, but I’m good. I’ll be there. You’re gonna be there, all right, July 10. Let her ask. He’s gonna join us. How are you How’s your summer? You doing? Great. How’s it going? It’s 101 and you have a beach house, don’t you just cancel everything. Go to the beach I always go
8Leonard Raskin 02:43
to the beach house. You go to the beach house. Put toes in the sand and enjoy the ocean. It’s the right time to go down the ocean on So, yeah, the ocean is calling swimming pool is calling swimming pool. Water is cool and refreshing until it’s warm. But I’ll tell you what, even when it’s hot out as hot as it is, and it doesn’t matter how warm the pool water gets, it’s nice to just get in the pool and get that wet.
Nestor Aparicio 03:09
Last summer, I I don’t have a pool, and last summer, we decided on the day like today, that the first day was 101 yes, we I went early in the morning, I went over to the lows, and I bought the $129 plastic thing for kids, you know, little pool, yeah, and blew it up. I got the machine that blew it up quickly. Did 2999 because I wasn’t gonna take it down to the gas station to fill it up, right? We had a tarp left over from painting our walls white. And we stuck it down on the tarp, and we left it there, and we cleaned it out. I think we got in it maybe, like 1012, times. You know, any day it was 90 plus, it off. We would blow it off right, put water in it at eight in the morning, fill it up too cold, you don’t touch it. And then by, like, 1111, 530, you can get in it. And by two o’clock in the afternoon, it’s filthy and the sun’s setting over the trees, you dump it out, and you’re like, we had a pool for $10 a day last summer. Leonard, I have to join a country club. Nothing.
Leonard Raskin 04:13
I get it. I get it. It’s beautiful. It’s a good thing. This
Nestor Aparicio 04:16
8is what I did with my American dream. I took about County. I think I spent 180
Leonard Raskin 04:20
bucks. Fantastic. It’s well water liberty. Okay, so, so that’s good. The only thing is, you, we make sure, and that size pool is not a big deal, but when you put the hose in a pool to fill the pool up, you got to make sure you don’t drain out the well. I mean, we don’t have to, we don’t have to fill our pool, but we if we have to put an inch or two in, because when it’s this hot, water evaporates out through the filter system. You got to put some more in. You got to make sure that the the
Nestor Aparicio 04:48
well is good, so this pool wasn’t big.
Leonard Raskin 04:52
Won’t run the well out. You’re fine, but you’re fine. I don’t
8Nestor Aparicio 04:55
this is where I admit my ignorance to you about finances and other things. Leonard rascal. But I know a lot about sports and a lot of there’s a lot about a lot of things, technical things, and I’m getting into this now with AI because I’m really, yeah, they’re studying up on how AI can power wnsd And Baltimore positive, 56 year old guy trying to grow his business still all these years later, and I have some semblance of relevancy to keep in significant people like you involved, but, um, but I was trying to grow it. I own a radio station, and you listen to me. Traditionally, you get in the car and you put on 1570 and you set your dial like a good Baltimore citizen would. I don’t really know how it works, you know, I don’t know how the tower works. I don’t know how the thing in the car. I don’t know how I’m doing. Zoom with you right now. I have a website. I really don’t know how it works. And so, like, well water is one of those things, like septic. I get it. I got a guy for that, or a girlfriend, you know, like, I can’t, you’re not going to run
Leonard Raskin 05:54
your well out with a little pool like that. But I always
Nestor Aparicio 05:58
go through this with when I have a Doug Workman, and I have him all like I have you on talking about water safety, and we had the oil spill and like all that well water, I don’t understand PFAs, but he tries to help me out with it like you try to help me out with money from time to time. Here, I have a really important question to ask you. It’s more important than the Orioles, it’s more important than the Ravens. It’s more important than the weather or politics. Yeah. What does war do to the market? What would war do to the right
Leonard Raskin 06:29
8question? It’s a great question, and the answer is, astonishingly, nothing. It’s, amazingly nothing. It’s,
Nestor Aparicio 06:40
it’s, I mean, Vietnam. I mean, I’m just thinking of more modern things,
Leonard Raskin 06:43
counterintuitive. It’s counterintuitive. If you knew, look the worst, horrible human atrocity in our not in our lifetime, but in our time, was World War Two. And if you knew everything in advance of World War Two that was going to happen, from the Holocaust to the war’s death, death, to Hiroshima and Nagasaki to nuclear weapons. At the end of all of that time and hell, markets went up. Markets went up. You You could not possibly predict that through all of that, stock market would go up. But here’s the thing you got.
Nestor Aparicio 07:25
My dad was working. My dad came to Baltimore and left the starving with Herbert Hoover and a chicken in every pot. 1929 up in Scranton came down to Baltimore, met a beautiful lady at a baseball game. They got married in Mount Carmel church in 1945 at the end of the war. And you know, my dad got a gig and came here building bombers over Martin Marietta, you know, off of starving up in Scranton, Pennsylvania, to have a job
8Leonard Raskin 07:50
that’s right at the end of the day. Here is my direct TV remote control. Here is my iPhone. Markets are the conglomeration of 8 billion people on the planet, buying stuff and paying for stuff that they value, products and services, going to Disney, going on a cruise, going to a concert. Money circulating through the economic system, the velocity of money, the turnover of those dollars going from consumers to corporations to create profit over time, capitalism, and that does not stop because of a war. I would tell you this very simply, you know, all the hell that’s going on right now, Israel, Iran, the Middle East, Russia, Ukraine, people around the world still have to go about their lives. That means we have to eat. We watch TV. Some places, they go to baseball games, not in Baltimore in 102 degrees.
Nestor Aparicio 08:52
But what would I have to pay you to go to the game tonight? Yeah,
Leonard Raskin 08:55
would you have to pay me to go to the game tonight? Question? That’s a good question, because it’s going to be blazing hot and and we should have gone to the game with the dude throwing a shutout. That’s the game we should have gone to. Who knows Trevor Rogers. Trevor Rogers, who knew Mike Elias is a genius? I didn’t even know who. I didn’t know. I never heard of Trevor Rogers until the game. I didn’t know we came in the trade last year for Stowers in Norway. I didn’t know we got that guy. I never seen him before, as he pitched for us. Pitched four times last summer, not Well, okay? And he pitched three times here, no two weeks ago, lousy last week, perfect on Monday night, right? So, so it’s like the stock market exactly, completely unpredictable, and new information dictates prices. News changes the market. But profitability is profitability, and when it comes down to it, companies make money. When companies make money, markets go up. Now in the short term, markets move for all kinds of crazy reasons, but in the long term, it’s based on profit and cash flow. Businesses, that’s it, and they do well, no matter what
Nestor Aparicio 10:04
8Leonard Raskin is, here he is Raskin globe. We can help you with your money, your American dream. You can find him at a Baltimore pop, Baltimore, Baltimore positive, yeah, this thing, this thing over here. Or you can find him at a Raskin global.com, the sports thing for you. Yeah, Stanley cup’s over NBA. I mean, I’m just drawing NBA had a game seven, right? A game, it’s almost like it’s orchestrated, almost like
Leonard Raskin 10:29
my love of hockey game six Florida beats Edmonton. And now I go into seasonal affective disorder, the opposite of most people, until October, when hockey comes back, and then I could scream at the TV again, you know, shoot the puck. So that’s good, but it’ll be a few months of misery without hockey. Number one, huh? Absolutely number one. Basketball. NBA doesn’t excite me. However, I’ve told you before, if it’s a potentially award winning game. I’ll watch the last five minutes. This was a game seven. Somebody was going to win trophy was going to be handed out. I watched like the fourth quarter, so I did watch the fourth blowout for halibut. Was terrible, terrible. That was in the first quarter. Yeah, it was early, so I didn’t know about that. I threw the game on in the fourth quarter, and he wasn’t there. I didn’t know what was happening. They were referring to him. That’s why you need Twitter like something, right? Well, I grabbed the Google machine and saw what happened, and then I was like, oh my goodness, they’re not going to win. So I watched the OKC and getting the trophy and the MVP, MVP, MVP. SG, G, A, S, whatever it is,
Nestor Aparicio 11:44
anytime, like, Oklahoma City wins. Like, I feel like there’s still the Seattle SuperSonics. And is that where they were on the map? Is that who they were? They are so, so that, you know, I see Sean Kemp when I see them, but Right? So
Leonard Raskin 11:57
they were the Seattle City. I didn’t, I did not know that. I didn’t know
8Nestor Aparicio 12:01
where they Supersonics, right. Okay, so the you do know the Utah team came from Phoenix, that came from Atlanta, that came right, okay,
Leonard Raskin 12:08
yeah, I know history. I did not know where OKC came from. Didn’t care, didn’t
Nestor Aparicio 12:12
look probably because I talk about this, probably because I had Barry Trotz on last week. I had like memes showing up on my Facebook about the move franchises, you know, Hartford to Carolina, Quebec to Colorado. Colorado Rockies became the New Jersey Devils. It almost became the national predators. So, like all of these, and I have the Tampa thing, I had the Tampa people on last weekend, again this week, and they’re going to be sold. And this and that they San Francisco Giants were going to go there, the Chicago White Sox were going to go. So these moving franchises, but with Oklahoma City, I think of that as they’ve been there a minute. They’ve been there at least 1015, years. I mean, they’ve been there a long time, yeah. And then I go back to, like, the Las Vegas Golden Knights being in the Stanley Cup Finals. You know, I was there with the cast first year right here, like, and I think about how weird the Ravens winning as quickly as they won when they became the Ravens. 96 to Oh, one. And I thought, like, it was, like, so incredible. It still feeds the franchise. 25 Yeah. I mean, you still buy tickets based on what happened. 20 feet. You talk to me about whiskey J and that’s something that Chad Steele doesn’t have, and it’s Sashi Brown, they have no clue about that kind of you know, Bones following loyalty. You know bones in the patient. You know that’s been here the Oklahoma City thing. That’s a beautiful thing in that the NBA is a truly international sport. Nobody knows where Oklahoma City is, other than in the Timothy McVeigh in our country. Terrible is that there’s, I’ve never been Oklahoma City. I have a regret on the final Tom Petty tour, which I guess was 17, I had a flight to Oklahoma City. I had a room and I was going to do it, and I just bailed on it for some reason, I went. I i think my wife and I went to red rocks to see Tom Petty instead, which we did. So I sort of like I, but I had, I had a room reserved a hotel, the car, I had it all to go to Oklahoma City, and I pulled back on it, and I never went. So when I’m watching the game, I’m like, never been there. Never thought about going there. Jim trabers there. I know that. Where the heck is that Kelly? Greg’s there, but the Sooners Boomer Sooner. But it is amazing what sports does for a place like Green Bay or Oklahoma. So there’s no Baltimore, right?
Leonard Raskin 14:33
8Think about, think about the tourist dollars that, potentially, as you just said, are going to pour into OKC that would have never gone. There people are like, where is that? I think I need to go check that out. I need to see that place that would have never gone if it wasn’t for this or wouldn’t know what it is or where Correct, correct. I mean, I think back over my lifetime and my son talking about the boy, often, the boy is a history. You. Major. I remember Nessie was probably eight, seven or eight years old, and Kathy and I would go out. We had a babysitter for him. And back then, he had a map of the United States. And he had these girls. It was three sisters that rotated babysitting for him over a number of years as they got older. So he gave the oldest one a map of the United States and made her right in all the states she was in college at the or in in college at the time, and all the capitals too. So first, first, just the states, and she got like 20 out of 50. And he gave her an F Oh, wow, told her before she came back the next time she had to get her mother to sign the map, get her geography, or she can’t send in, then the next time she doesn’t know where Vermont is, How would she know where Montpelier is? Next time we went out, her sister came and he did it with her sister. She got 40 because she she studied. Her sister warned her,
Nestor Aparicio 15:57
I am absolutely convinced that your President, if I gave him a map of the Middle East, Oh, stop it, he wouldn’t know Iraq from Pakistan, like B twos. No to be twos. No you. It’s a little disturbing when people don’t know geography, for me, but it’s even more disturbing for me. I had an employee at one point that didn’t know east from now, north from south, from West, because he had Google Maps and I and like, to me, it’s insane. I had a girl I was in New York last summer. It was a beautiful summer night, and I got and I’m in front of Bryant Park, and a girl gets off the subway, beautiful, young girl. She might 20 years old, kind of girl I would have hit on back in the day. And she turns to me, because I guess I look trustworthy, right? And she said, do you know which way east is right here? And before she she had a phone so she could have navigated that way. She wasn’t, you know, indigent. She wasn’t, you know, but I looked and I saw the sun setting right? And I’m in New York, so it wasn’t like, it wasn’t that, and I saw the sun setting, and I’m like, well, the sun setting over there, and it’s six. It was in the evening. It was like, seven o’clock at night. I’m like, so that’s east.
Leonard Raskin 17:16
She said, What are you talking I didn’t know that really. How
Nestor Aparicio 17:22
do you she said, I really I’m like every day, every day of my
8Leonard Raskin 17:27
life. I remember in high school, in high school, We’d sneak away on a Friday afternoon and we’d go down to Ocean City, and those were the days when you could sleep in the car or sleep on the beach because we didn’t have anywhere to stay, and
Nestor Aparicio 17:42
I slept in Robert to be is his Vega in 1980
Leonard Raskin 17:46
was it a VW Bug? Right? And right from the police station? Right? Wake up to watch the sunrise coming up over the ocean.
Nestor Aparicio 17:57
8I don’t know behind me is obviously a sunrise, because this is East Baltimore, right, right? I can’t get you a sunrise over Camden Yards, because there is no such thing. It doesn’t work. That letter Raskin is here we are. Leonard is the world flat around yeah, that’s
Leonard Raskin 18:14
it. I’m all, I’m all from the round camp. Okay, we
Nestor Aparicio 18:19
can agree on something over it? Yeah, I don’t know if we can agree that Donald Trump couldn’t find, you know, but your babysitter couldn’t, and I think a lot of people couldn’t.
Leonard Raskin 18:29
I think, I think people would have if you went walk down the street with a map and blank map with jaywalking. This is a segment, right? Boundaries, boundaries drawn, you know, borders drawn. Walk down the street and ask people, which of these countries is Israel? Neither chance, no chance. Iran, no chance, no chance, no chance. I mean, Qatar, no chance. Even less, even less of a chance. But how about the Panama Canal
8Nestor Aparicio 18:59
that’s over there? Oh, that’s right, the Panama Canal is on this side, right? No, but the canal is the big story in the war, and what’s going to happen is going
Leonard Raskin 19:06
to be the oil. No idea. No, you’re talking No, that’s the Strait of Hormuz. I know
Nestor Aparicio 19:10
that. That’s why I call it Panama Canal. Oh, okay, trying to confuse you, too. I
Leonard Raskin 19:15
8didn’t know what you’re talking about. Yeah, no, they’re, they’re not going to close that if they, first of all, they could try, but China is not going to let them do that. And China is their biggest benefactor. They’re not going to let
Nestor Aparicio 19:27
him do that, because often the Russkies, right? Yeah,
Leonard Raskin 19:29
it’s not going to happen that way. Russia needs it to bomb Ukraine, and they’re all getting it. You know, it’s crazy. Look, we can talk politics for hours on here. And I think
Nestor Aparicio 19:40
the most disturbing part right now, and I’ll drop the mic on this, we can get the sports whatever you want to talk about, is how this guy, the felon, run in the country, has disassociated us from all of our allies in the middle of this, we have friends with no one anymore, other than so that’s It’s not nonsense. It’s economic sense. It’s not,
8Leonard Raskin 20:01
of course it is. Of course it is. They’re buying from us. They’re selling to us. The World Trade is wide open. Uh, tariffs will will settle down. Countries will, will continue to buy from us, continue to open their markets to us. If we had free and fair trade, I would agree that the tariffs are a mistake. We haven’t had free and fair trade forever. So in that regard, American people are still going to buy stuff made in China. They’re still going to buy stuff made wherever, stuff is made, and the world is still going to buy stuff made in America. That’s not going to
Nestor Aparicio 20:32
change. What do we make? Well, that we sell to them, that we should be concerned about,
Leonard Raskin 20:36
meat, cheese, farm products, farm products. There’s lots of other things manufactured in America. If you just run around the town, you’ll see there’s lots of things made here. Some of that comes from foreign parts, but that’s a matter of over the long term, the arc of the last 50 years, we’ve outsourced quote, unquote, low paying jobs to other countries to get cheap product we all want Walmart. I just
Nestor Aparicio 21:01
8think when I walk around, walk around Paris or walk around London, which I have friends doing all that all along, right, like I have friends right now, this morning in Paris, I’m giving them tips on pastries. I had friends in London the other day. I sent them off to Kensington for Indian food, because they’re there for sure, watching concerts like Ed Neander. I wonder how many things they go and buy and not, not tourists. I’m talking about people live there. Yeah, purchase that say made in America, or involve America or or less than, need America. Need America, other than coming to Disney World, which they have over there,
Leonard Raskin 21:36
no, there’s plenty. If you, if you look around this country, just look in Maryland. Just look, in Baltimore, we have a manufacturing industry in Maryland, and Baltimore is massive.
Nestor Aparicio 21:49
I drove past the Domino Sugar. I had a dear friend of mine from Philadelphia over the weekend, and I gave him the $10 tour of Baltimore in the car an hour and a half. We drove the whole circumference of the harbor and up the Hopkins. And he’s artsy, so I wanted to show him some art stuff and whatnot. But like seeing the whole waterway and how much industry there is here, absolutely. You know, we are the most watery state in the country. You call on Baltimore in every way we don’t
Leonard Raskin 22:17
think of it. That more Manufacturing Institute ask them, what’s gets manufactured in Baltimore. They’ll give you a list your arms long, that’s getting bought in Europe and getting bought by places pissed off anybody. Elites piss each other off all the time. It’s government and elites pissing each other off. You and me, the consumer out in the world. When’s the last time you and maybe you did, when’s the last time somebody went to the store and bought something and said, like, like, right here. I don’t know why this is on my desk, but it is. This is a a torch for lighting cigars in the wind. Okay? I
8Nestor Aparicio 22:50
don’t no idea where it’s made. I don’t think about that. I’ve never thought about that in my life. That’s
Leonard Raskin 22:54
my point. So do you think anybody around the world is picking something up going, Oh, Made in America. I don’t want to buy that. No, not
Nestor Aparicio 22:59
at all. I’m wondering what we make that they buy. That’s, I think there’s. Plus, it feels like everything in my house is made in Taiwan or China, yeah, like, literally, there’s plenty of, plenty of stuff American, American exports. Well, I mean, I saw Trump getting after, you know, Apple, about making stuff here and all that. If you
Leonard Raskin 23:16
8want to pay, if you want to pay twice the price for an iPhone, they can make it here. But we don’t want to do that, so we outsource the labor. That’s what happens. It’s markets. Free markets find capitalism finds the cheapest cost to manufacture whatever it is they manufacture to create the greatest profit. So what will
Nestor Aparicio 23:33
matter the cost to society?
Leonard Raskin 23:35
No, not no matter the cost. Not true. Not true. I disagree. If, if it was no matter, the cost of society, society couldn’t exist. Capitalism has raised more people out of poverty than any other system in the world, bar none. But taxation was the great equalizer. No taxation is government theft to waste money. But that was the equalizer, though. It’s theft, pure theft. Government takes money from producers.
Nestor Aparicio 24:01
Your kid would have been doing slave labor at eight years old, 100 years ago, right? Because that’s the way we built the thing. So until that
8Leonard Raskin 24:08
happened, slave labor. Ford didn’t have slave labor. Rockefeller didn’t have slave labor. Now it’s that’s not true. I’m talking create child labor. I’m telling you they created they created wages and multi millionaires by paying people what they could never earn before on the farm, and by helping those people own shares of the company that had nothing to do with the government.
Nestor Aparicio 24:29
It is fascinating, like a name like Rockefeller. You can look it up and see all the good deeds and all the bad Absolutely, it’s everybody’s Robin Hood of that era, you know, right down to wherever we are right now, with the month and the Bezos, you have a company
Leonard Raskin 24:43
right here in Baltimore, hopefully doesn’t leave, called McCormick. Okay, what do they do? They make spices all over the world, sure, all over the world. They put them in little bottles. And do you know that of the people that work there, there are massive numbers of people that spend. Their entire life, labeling bottles, putting spice in bottles, putting caps on bottles, multi millionaires because they’ve earned and owned stock in McCormick for all these years. Government had nothing to do with that, nothing except take from the producers to give to those that don’t produce and maintain power by taxation because they get it by
Nestor Aparicio 25:21
8many of the welfare people believe in philanthropy. And Lord knows that Rubenstein thinks the loyals are philanthropy. And, you know, I was at a case Valley this week for the BMW. And you know, everyone
Leonard Raskin 25:34
philanthropy that, course, doesn’t exist because of government and the scholarship that they’re giving away at the at the caves, right?
Nestor Aparicio 25:41
The Evans scholarship, great. Providing scholarship loyal is fantastic.
Leonard Raskin 25:44
Yeah, that’s not government. That’s called capitalism. If it wasn’t for production, those dollars would not exist and that kid would not get that scholarship. Nobody will tell me that capitalism has hurt the world. It has raised more people out of poverty in more places around the world. You see where government is in control. Socialist countries where government makes decisions and distributes dollars, I’ll show you poverty and pain. You show me a place where that’s not the case. I’ll show you opportunity, opportunity, thriving, thriving people and philanthropy and innovation and invention, like to which the world has never seen. Well, here
8Nestor Aparicio 26:20
we go, innovation. This is where the AI thing for me, what just the next? How’s the market reacting to AI in that way? Because it’s such a buzz everybody I’m talking to, I use it in various ways. Some people, you know, certainly on the left, are allergic and you know, it’s, it’s, it’s artificial, whatever it is, it’s here, like struggling with the internet, like arguing with, you know, my kid, like, text me the first time, and I said, I’ll never text with you, right? Like, now you text across the table, yeah? And social media, I’m not gonna get on that, you know, I’m gonna, yeah, sure, you’re not. I’m gonna be a journalist and not be on social media.
Leonard Raskin 26:58
I will roll you over like a wave at Ocean City on a bad day. What do you
Nestor Aparicio 27:03
know about it? And what are you preparing people you know? And what’s the market telling? I’ll
Leonard Raskin 27:08
8give you an example. I’ll give you an example. Ness. I’m working with a guy right now who shall remain, remain nameless, of course, a guy that I’m advising, and he and his wife, and they’ve talked to me about what their hopes and dreams are for them and their kids, their family, their future, their grandkids. And based on that, I developed what I think is in his best interest to do with his money. And we had a great conversation with he and his wife and his oldest son. And they loved the proposal that I made. They wanted to implement everything that I recommended. They thought it was fantastic. It suited it checked every box of their desires and every box of what is right and what they should do. And a week went by, and I got an email from him. He went to chat GPT. He put in the parameters of what he and I were talking about, and he asked it about my recommendation, and asked if there was something else he should do instead. And it came up with four options of that it would test and try to see which was best for him to do. And it came back that option one and two were no go. Option three was a possibility, And option four was a possibility, and that between three and four. Here were the pros and cons and the decision tree to what he should think of to make the best decision for him. And he sent it all to me, and he said, What do you think about option three? Because, believe it or not, option four was my recommendation. Option three was just an alternative. And he said, What do you think about option three? And I sent him back an email, and I said, Hey, AI is good for lots of things. Sadly, it’s not good for doing my job yet, and thankfully, it’s not good at doing my job yet. And
Nestor Aparicio 28:54
good way to challenge thoughts absolutely open your mind.
Leonard Raskin 28:57
I said, let’s go over option three when we meet, and I will absolutely explain to him why option three is viable, but not the best, not ideal, and if he’s smart, he’ll choose option four. But let’s assume he never had that tool. He would not be able to assess my recommendation necessarily, which I am thrilled that he did that way, and I am happy to go over option three and four with him and explain why four is the the best answer. Three would be a decent fallback, but not anywhere near as good for what he’s trying to accomplish. Now, somebody out there is going to make the decision between three and four on their own and not interact with me at all, and that’s going to put people like me out of business at some point, but, but what the thing is, he didn’t know what to put into the to the system first, without my recommendation first, because he wouldn’t have had a foundation for, for for the choices, right? He got that because of our discussions. Now that doesn’t mean he couldn’t implement through AI. He couldn’t use that to solve a problem. It solves massive problems. It does amazing research. If you’re writing something, it could be a ghost writer. If you’re if you’re looking to do an interview and you don’t have interview skills, you can ask, I could go on chat GPT right now and ask it to give me six questions to ask Nestor if I was doing an interview, I hope
Nestor Aparicio 30:21
Mickey Coachella doesn’t do that on Wednesday when I’m on his podcast, because we’re live on Mickey’s
8Leonard Raskin 30:26
podcast. Yeah, well, if, if somebody’s a good questioner and has good research, but where do where do I go to find information about Nestor? Do the interview? Do I go to Google? I don’t go to the library? Do I just look up Nestor and Google and and now I got to read how much to come up with a half a dozen great questions I can put in. Ai give me six questions about nest if you’ve got a digital footprint, it knows you, and it will come back. It has read the entire internet, and it will come back. And give me six profound questions to ask you for an interview. How about
Nestor Aparicio 31:00
that? Like 20 years ago? Remember that TV commercial? I read the whole internet now, what do I do? Right? Yeah, that’s saying. So getting your arm around that is tricky, Dicky, and this is my summer to do that. Let her ask. Is here to help you handle money? Uh, he’ll talk some sports with you when the Orioles aren’t last place and cool you off at the beach. Here, talk about what you do in the American dream. I made a new commercial for you based on what you told me two weeks ago. I said, Leonard, tell them what you do, and that’s, that’s your new commercial. Now, by the
Leonard Raskin 31:27
way, what we do is we help people use their money to have fulfillment in their life, to achieve the American dream, to use capitalism to use their money as a tool. You know, somebody said to me, once money can’t buy happiness. You’ve heard that. Everybody’s heard that. Say, Yes, that’s true, but it does buy choices. It buys options. And I help people create the wealth, protect the wealth, enjoy the wealth, and transfer the wealth to those they care about. And keep government out of your pocket, keep the financial institutions honest about what they’re telling you to do with money, because their agenda is their agenda, not your agenda. And my world is about helping you use your money to its maximum fulfillment, to its maximum, uh, efficiency, to create your life’s maximum fulfillment. That’s what it’s about.
Nestor Aparicio 32:18
8I’m having my maximum fulfillment this week, not just that I’m on Mickey Coachella podcast, not just that I’m doing the crab cake tour on Thursday at readers, brought to you by the Maryland lottery and our friends at curio wellness and liberty pure Izzy Patoka is going to join us. Alan McCallum and Luke are going to hang out together and talk some baseball. My dude happy. Eddie from curio wellness and foreign daughter is going to be stopping by. But the highlight of the week. No offense to any of them, and they’ll all know this. Yeah, I’ve got Fred Ling coming on the show this week. V Fred Lynn. That’s even better than Jack Hughes from Wang Chung, who did the show this week? Mark Bryant from moody and the Blowfish has been on since the last time. So I’ve had rock stars on here. I’ve had it all, but Fred Lynn is coming
Leonard Raskin 32:58
on the show this week. Yeah, we gave away your strem skis, grandson, right?
Nestor Aparicio 33:03
Well, you know, I mean, could we, you know, I, I think about Fred Lynn in 75 terms with the Red Sox. And I don’t want to hate the 75 Red Sox. I want to just stand in admiration of them later. Amen, years, 50 years. Said that out loud, didn’t I, that’s, that’s in Carlton Fisk, 50 years,
Leonard Raskin 33:21
50 years. That’s ridiculous. It’s ridiculous. We’re old, dude, we’re just old. That’s it.
8Nestor Aparicio 33:27
You know, when I think of that piece right there, I hear the voice of Mel Allen. How about that? Amen, how about that? I need some swift notes now. Is what I need. Innocent baseball week here Tampa Bay is in town. Rick Vaughn is coming on to talk some Tampa sports. My buddy Pete Williams, longtime USA baseball weekly writer. We lost my friend Scott Miller to cancer last week, so we’re all going to honor Him as baseball people. We’re up on the All Star game in a couple of weeks as well. So enjoy the baseball. Cool off. Sit in the splash zone, or create your own splash zone, and if you steal my pool idea for $159
Leonard Raskin 34:04
big value, big value. Great man,
Nestor Aparicio 34:07
you’re here to manage my money. I spent $200 all my pool activity last summer, and I survived it. I didn’t have to go to the islands. I am Nestor. We are wnst. Am 1570 Towson, Baltimore, and we never stopped talking Baltimore. Positive you.
