- 2023-06-19
- Posted by: kimsite
- Categories: Commentary, Insights
Click here to listen to the full interview.
Program: Making Money with Charles Payne
Date: 6/19/2023
Station: Fox Business News
Time: 2:00PM
ASHLEY WEBSTER: Keeping with cyberspace and cybersecurity stocks. They are on fire right now, probably because of what we’ve just been talking about. Joining me now, I haven’t talked to you for a while, Kingsview Wealth Management chief investment Officer Scott Martin. Scott, great to see you.
SCOTT MARTIN: Great to see you again.
WEBSTER: Let’s talk about some of these stocks. Yeah, you like to you like, let’s see, CrowdStrike and a favorite of many right now, Palo Alto Networks. Explain why you like these in particular.
MARTIN: Yeah, a lot of talk about these two names, Ashley. And I’ll tell you, that scares me a little bit, that people are starting to get into these stocks. But that’s part of the chase. That’s part of the kind of FOMO that’s out there. The fear of missing out that people like in these cyber areas. And I’ll tell you actually, I mean, if you just think about, like you said, what you were just talking about with the previous guest there, as well as things that we go through in our own lives, the the malware attacks, the fake phishing emails we get. I mean, how many fake emails do I get from the fake Ashley Webster these days and get so excited I click on them and then they try to steal my information. The reality is, is like a lot of those emails are still out there, man. There’s a lot of these bad actors out there that are trying to get in our phones, trying to hack us. And that’s where these two companies come in to try to prevent that stuff and track it down.
WEBSTER: You say the markets are off to the races on AI hype. And you’ve mentioned a couple of stocks there, but do we overextend ourselves? Do we get overexcited about this or is this got some real substance?
MARTIN: Oh, gosh, there’s substance in there. I’m not sure what the AI version of me would say. I guess the AI version would probably encourage it. But I do think there’s a lot of hype here. You know, I think there’s a lot of things actually that are that are reminders of, say, in 1999, 2000, a tech boom crisis as well. And even like an zero 7 or 0 eight housing boom crisis or real estate boom and bust is because it just feels like a lot of these names and looking outside of some of the easy ones to us, which is like the Googles, the Microsoft Apples, some of these smaller companies are just trading at ridiculous like atmospheric valuations that to me just don’t be warranted yet in the sense of probably long term these valuations come down, meaning the prices come down. But that doesn’t mean they can’t go up for a few months more as the craze is on.
WEBSTER: All right. From AI to Taco Bell, there’s a Segway. Taco Bell introducing uniform collaboration with a Brooklyn artist, no less. All in an attempt to retain workers amid staffing shortages. So it’s not just a t shirt. As a loyal Taco Bell customer, I am told. What do you make of this?
MARTIN: Yeah, probably more than loyal. Maybe the all time customer, I guess, given everything they’ve gotten out of this Taco Bell thing I did last year. But I love Taco Bell, as we know, and I love unique t shirts and style. The trouble is, at the end of the day, does it really keep somebody in the job? I mean, it may be the food instead. The tacos to me are really good. Maybe the work atmosphere not so sure the t shirts going to do it there. But I do applaud Taco Bell, Yum Brands being the parent company, they’re actually trying to get the worker morale up because let’s face it, when we’re in a job where there’s journalism, food service somewhere, maybe customer service job, whatever it is you want to feel good about where you are so you can do a good job for your customers.
WEBSTER: I went to work at Taco Bell and all I got was this lousy t shirt. I can see it now, but then again, it’s supposed to be cool.
MARTIN: Harassment, too. There you go.
WEBSTER: Yeah. There you go. Scott, thank you so much. Great to see you once again. Appreciate your time today. All right.
