POINT GAIN FOR THE
DOW INDUSTRIALS.
HOLDING IN RECORD TERRITORY.
>>> OUR NEXT GUEST PREDICTED
HAS TURNED CAUTIOUS.
DENNIS GARTMAN MADE THAT
PREDICTION.
COME, I'M KIND OF CAUTIOUS?
DID YOU MISS IT?
>> YEAH, I MISSED IT.
IT HAS GONE A GREAT DEAL FARTHER
THAN I EVER DREAMT WE COULD GO.
WHEN I SAID 30,000 IT WAS
TECHNICAL PERSPECTIVE LOOKING AT
CHARTS.
WE HAVE A STRONG ECONOMY.
I LIKE AMERICAN STOCKS RELATIVE
TO ANYBODY ELSE'S COUNTRY.
I WANT TO CONTINUE TO BUY HERE
SELL OVER IN EUROPE.
I WANT TO BUY HER AND CONTINUE
TO SELL OVER IN JAPAN AND CHINA.
DO I WANT TO LOAD THE BOAT HERE?
NOT REALLY.
I'M TOO OLD TO LOAD THE BOAT.
MISTAKE.
YOU BROKE THE RULE.
>> YOU HAVE TO ADMIT MISTAKES.
STUART: YOU'RE A GOOD MAN FOR
DOING IT.
YOU'RE WELCOME ON THE PROGRAM.
WE LIKE THAT KIND OF THING.
YOU DON'T LIKE VIDEOGAME STOCKS.
YOU SAID YOU WOULD NEVER BUY
THEM?
>> I WILL NEVER BUY VIDEOGAME
STOCKS AND NEVER BUY CANNABIS
STOCKS.
I JUST DON'T THINK THERE IS
ANYTHING INCUMBENT IN THEM.
YES THEY WILL PROBABLY MAKE
MONEY.
I WISH ANYBODY WHO TRADES THEM
WELL.
I HOPE EVERYBODY MAKE AS BUNCH
STEEL, GIVE ME THE MAKERS OF
SHIPS AND RAILROADS.
GIVE ME RAILROADS THEMSELVES.
GIVE ME MAKER OF BALL BEARINGS.
YOU HEARD ME SAY ON THE SHOW,
SAY IT AGAIN, I WANT THINGS THAT
DROP THEM ON MY FOOT THEY WILL
HURT, THE REAL STUFF OF THE
COMING OUT OF GAMES.
STUART: WAIT A SECOND.
YOU SAY GAMES, VIDEOGAMES,
RUINING OUR SOCIETY.
YOU JUST BROKE THE SECOND RULE
OF FINANCIAL TELEVISION.
YOU'RE INVESTING ON THE BASIS OF
MORALITY.
WHAT ARE YOU THINKING?
>> WELL I THINK THAT IS THE
RIGHT THING TO DO.
IF I, IT IS, THIS IS AMERICA.
I GET TO MAKE MY DECISIONS ON MY
OWN.
AS I SAID, STUART, I WISH
ANYBODY WHO WANTS TO INVEST IN
CANNABIS AND WANTS TO INVEST IN
GAMES, I WISH THEM WELL.
I HOPE THEY MAKE A LOT OF MONEY.
I PREFER NOT TO IT.
I HOPE THEY DON'T FORCE ME TO DO
IT.
I HOPE THEY GO UP BUT DO IT
WITHOUT ME.
I WOULD RATHER OWN BALL BEARINGS
AND STUFF OF GENERAL ECONOMIC
GROWTH.
STUART: WOULD YOU BUY A TOBACCO
STOCK?
>> NO.
I WON'T BUY TOBACCO.
THIS IS SOMEBODY WHO USED TO BE
A 3 1/2 PACK CIGARETTE SMOKER
BACK IN COLLEGE.
THANK GOODNESS I GAVE THAT UP
ALMOST 40 YEARS AGO.
AGAIN I WISH SOMEBODY WHO DOES
IT, I WISH THEM WELL.
HOPE IT WORKS.
TOBACCO STOCKS HAVE BEEN A
WONDERFUL INVESTMENT.
STUART: LIQUOR COMPANY,
CONSTELLATION BRANDS, WOULD YOU
BUY THAT?
>> I DO DRINK MARTINIS I HAVE TO
BREAK MY RULE, I WILL OWN THOSE
THINGS.
I GUESS THERE IS AN
INCONSISTENCY THERE, SO BE IT.
I CAN STILL BE CONSISTENT AND
HAVE A MODEL PORTFOLIO.
HOW HAVE YOU DONE?
>> I'VE DONE OKAY.
I HAD ONE BAD DAY EARLIER THIS
MARKET AND OWNING HIGH DIVIDEND
YEARS.
I'M COMFORTABLE DOING IT.
HAVE OTHER PEOPLE DONE BETTER
THAN I HAVE, HAVE PEOPLE OWNED
GOD BLESS THEM.
THEY HAVE DONE GREAT.
THAT IS JUST NOT MY STYLE.
STUART: I BOUGHT BLACKSTONE AND
AT&T, BECAUSE THEY YIELD ME
CUSHION, IN CASE YOU HAVE A
SHOCKING DOWNTURN IN MICROSOFT
FOR EXAMPLE WHICH YOU MISSED AS
WELL.
DENNIS, THAT IS THE THIRD RULE
OF INVESTING.
YOU BROKE THAT ONE.
YOU FORGOT ABOUT MICROSOFT.