The Practical Islamic Finance Podcast

Finally Here

Rakaan Kayali

► If you enjoyed the episode, please leave us a good review!

► More from PIF: https://linktr.ee/practicalislamicfinance

Finally Here
In this episode, we will cover:

  • Election Day Market Rally and Overview
  • Trump-Associated Stocks Surge: Tesla, Dogecoin, and Bitcoin
  • Election Odds Favoring Trump
  • DJT Media Stock Analysis and Revenue Issues
  • Supermicro Earnings and Auditor Issues
  • Election Polls Update: Swing States and Favorability Ratings
  • Viewer Q&A: Importance of Voting in Key States
  • Market Insights: HIMS and Potential Growth
  • Wrap-up: Potential Market Impact of Election Results


CONTACT US
salam@practicalislamicfinance.com

ABOUT OUR PODCAST
Our podcast is about helping people ethically build wealth. We cover a broad range of topics including stock and crypto investing, product reviews, and general financial well-being.

DISCLAIMER
Anything you hear in this video is an opinion. It is not personalized financial advice. Make sure you do your due diligence before making any investment decisions.

Salaam alaikum everyone. So the Trump trade is doing very well. And perhaps this is a indication that Trump's odds are improving with time. Salaam alaikum. Today is Tuesday, November fifth, and today is election day in the United States. So we had very positive. market today. Dow Jones, Nasdaq, S&P, Russell, they were all up. The Russell was up close to two percent today. Elon Musk has aligned himself very closely to Trump and companies associated with him and assets that are associated with him did very well today. So Tesla is up three point five percent. If you look at Dogecoin, it's up six percent. It was at seventeen five, seventeen six earlier today. It's pulled back to around sixteen cents, sixteen seven. And Bitcoin was at seventy thousand today. It pulled back since to sixty nine thousand two hundred. Walaikum salam Zohair, nice to see you. If we look at the. odds of winning. We can see for Trump, he's kind of pulled away with the odds. You can see just with this update, it went from fifty eight to fifty nine. So it does seem like Early indications are pointing towards a Trump victory and hopefully that victory is clear cut and it's not, it doesn't lag on and we get litigation and we get back and forth between the candidates. The best scenario for the markets would be a clear cut victory for one of the candidates. And probably Donald Trump would be more market friendly than Kamala Harris. In other news, we did see Bitdeer up close to ten percent. So that was a nice recovery from a recent pullback. We also saw an interesting move from DJT, which is Trump's media company, Trump's public media company. Nice to see you, Niznaz. And nice to see everyone in the chat. So with DJT, just to put things in perspective, we did see it fall here in price. Perhaps there was a buy the anticipation of what could happen election night and sell election night type activity going on here. But don't argue with me about the fundamentals here. This is a company that is six point seven nine billion in market cap. And guess how much revenue it has as basically the revenue of a doctor in California. So it makes eight hundred and thirty six thousand dollars. And at least in the last quarter, that is. And their operating expense, so how much they spend to generate that eight hundred and thirty six thousand dollars, nineteen point five million dollars is what they spend. So really solid business we got going on here. Oh, and by the way, the the the owner of this company is actually probably going to be the president of this country. So we have that to look forward to. Not that his opponent was any better. It just boggles the mind how this election turned out to be between these two clowns. And so it's, I mean, from a fundamentals perspective, the value of this business should be zero. So if you're invested in this business, hold on to your hat. There's probably going to be a lot of volatility here. Another company that's been in the news that we spoke about, Supermicro, they reported earnings today. And prior to reporting earnings, they were up. And then after reporting earnings, they were down. So Supermicro Computer, By the way, if you're unfamiliar, this is a company that was one of the best performing S&P five hundred companies of the year. And then it turns out that there's a lot of shenanigans or probably a lot of shenanigans going on with their financials. Their auditor resigned. Ernest and Young resigned. If they can't find an auditor soon so that they can release their earnings, their audited earnings, they're going to be delisted from Nasdaq. And that's basically a death sentence for this stock. So this is a company that at one point SMCI was flying high. You can see how much the appreciation was steep here. So SMCI reached above a hundred and then now it's close to a twenty three, four. It was up on the day. It's close to twenty four dollars, but it was up on the day and then it lost its gains and then some after hours because of Supermicro's report. So what did they report? They said. It expects net sales to be between five point five billion to six point one billion for the second quarter, compared with analyst estimates of six point eight six billion. So assuming that they cooked the books, even after cooking the books, it appears that they missed estimates. So that's not good. The company's preliminary results come less than a week after Ernest & Young had resigned as their auditor, triggering investor concerns about accounting practices at the firm. The special committee probe related to issues raised by Ernest & Young over the company's governance transparency and internal control over financial reporting Though Supermicro has been gaining traction in the server industry, larger rivals Dell Technology and HP have been able to leverage their vast customer base to boost sales. And this is something that we've mentioned in our analysis of Supermicro. This is something that stood out to me when I did a deep dive on it, is that their margins were under pressure. And that was basically the main reason why I skipped on investing in it. Competition has also forced Supermicro to offer attractive prices to its customers while incurring higher costs for some parts used in liquid cooled servers pressuring margins. And interestingly enough, when you go to the investor relations page of Supermicrocomputer, you get Surat Al-Mutafifin, Waylon Al-Mutafifin. So that's interesting. I thought that was not worthy. If we go to the Two Seventy to Win website, which is based on polling and not based on betting markets. So it will take two hundred seventy electoral votes to win the twenty twenty four presidential election. Now, yesterday when I checked on this, they did have the Democrats in the lead. But today, checking on it, it does appear that the Republicans are now in the lead with two thirty versus two twenty six for the Democrats. The swing states here are Wisconsin, Michigan, Pennsylvania, North Carolina and Georgia. Nice to see you, Middle Class Investing. I hope you're doing well. It does appear that your state has leaned Republican. So... Oh, did this just change? Oh, no. Let me refresh here. Oh, actually, this was... Oh, so this has changed guys. So now it's showing this site, at least is showing two, twenty eight Republicans, two, forty three Democrats. And it's showing it previously was showing Ohio leaning Republican. Now it's showing Ohio. Likely Democrat, Ohio is one of those swing states, pivotal states that will have a big impact on this election. Now, if you guys want, we can tune into some of the major news channels. So let's see if we can get some voice here. Oh, you moved to Arkansas? That's interesting. So yeah, Arkansas will go red. That's pretty sure. Assalamu alaikum to everyone else in the chat. Nice to see you all. So if I do have people from the United States, did you go vote? Are you comfortable telling us who you voted for? Put that in the chat. Already crunching more of the numbers. The campaigns are looking at this stuff, too. So I want to get to Peter Alexander and Garrett Haik, both of our correspondents covering both the Harris and the Trump campaigns. We're just getting in, Garrett and Peter, what we call fave unfaves. In other words, the favorability ratings for each of these candidates. And let's start with former President Trump. By the way, guys, if there's any issues with the sound, just let me know. I'm going to assume that the sound is good for you. We're going to pull that up here. And you can see he is, what they say, underwater, essentially. Fifty-four percent of voters in these early exit polls have an unfavorable opinion of the former president. Garrett, as you well know, though, the strategy for the Trump team has long been supercharge the base. Get that forty-four percent who do see him favorably to actually show up and vote either today or during early voting. Yeah, that's right, Hallie. And I remember a briefing with Trump campaign officials several months ago now in which they said by the time this race is over, both of these candidates will be unpopular. And that's broadly true. Kamala Harris underwater as well in these polls, but not quite as badly. And I think that's going to be part of the challenge for the Trump campaign as we look at these early exit polls, which I should caution that the campaign was telling us sort of all week not to overinterpret them. And I think that's a worthy acknowledgement to make here. But they also wanted to use President Biden as an anchor around Kamala Harris's neck and essentially hope that Biden's unfavorability would drag down Kamala Harris. And the delta between Biden being far more unpopular than Kamala Harris is right now is the kind of thing that I think would be a warning sign to the Trump campaign about that messaging not being as effective as they'd like. Garrett Haig, thank you very much. Live for us down there in South Florida. Appreciate it. All right, let's move over to my friend, Peter Alexander. And Peter, let's take a look at the favorability for the vice president. Here it is. This is the first time we're seeing this. What we have here, the opinion of Kamala Harris, unfavorable, fifty percent favorable, forty eight percent unfavorable, fifty favorable, forty eight percent her unfavorable, slightly lower than what former President Trump's was. Peter, talk to me about how the Harris campaign is feeling. I know you've been reporting all day about sort of their momentum. By the way, guys, I mean, I have to say, these polls are... Very skewed, I think, and unreliable. No one, I mean, a lot of these polls are done via calls to landlines. No one's really picking up on landlines anymore. So I don't really know if you can put much merit to any of these polls. What I do know is that when people put money behind something, that means that they're taking it very seriously, at least as per the the betting markets, they're clearly favoring Trump at this point in time. So what you're going to hear from sort of the major media outlets may be very different from reality. And now, I mean, just listening here, you do get sort of a impression that Harris's campaign is doing quite well, but we'll see. And sort of maybe a changing of mood. They were feeling a bit more positive today. Yeah, not just positive today. They've been feeling increasingly confident over the course of the last several days. Let's look at that favorability number, though, for a moment. And Kamala Harris, she performs better than both Donald Trump and Joe Biden, four points ahead of Donald Trump, seven points ahead of Joe Biden. One of the concerns about Donald Trump had been that there was some sort of an evaporation, a memory gap where Americans forgot the way they felt about Trump at the end of his term right now. His number is coming down. Her number is particularly high in their view right now and higher than the man with whom she served, Joe Biden. So that's something they're feeling, I think, good about this evening. One other data point we'll share, we just heard from a senior campaign advisor. They're seeing some new information coming out of Pennsylvania. Obviously, the crucial battleground, the biggest prize of the swing states with nineteen electoral votes among Puerto Rican voters in the three wars with the largest PORTA RICAN POPULATIONS. AS OF MIDDAY TODAY, THE NUMBERS WERE ALREADY AT SEVENTY NINE PERCENT OF TURNOUT IN TWENTY TWENTY, WHICH IS TO SAY THEY BELIEVE PORTA RICAN VOTERS ARE TURNING UP IN BIG NUMBERS, PARTICULARLY NOTABLE AS IT COMES ONLY ABOUT A WEEK AND A HALF AFTER THOSE OFFENSIVE COMMENTS BY THE COMEDIAN WHO LED OFF FOR FORMER PRESIDENT TRUMP AT THE MADISON SQUARE GARDEN By the way, if you're a voter and you let a comedian determine who you vote for, you should be prevented from voting moving forward. I don't know why people put so much importance on what a comedian says. Comedians should be completely ignored. But apparently they made this big stink out of a comedian saying, oh, there's a big floating island of garbage in the sea. Its name is Puerto Rico, I guess. And it's just a comedian. Who cares? Who cares what this person jokes about? And, you know, it only matters with regards to whether you laughed or not. But, you know, for people who let a comment like that swing their vote, I think very few people did. But people who let a comment like that swing their vote one way or the other should probably not vote. I bet just a couple of weeks ago. By the way, I mean, looking at the comments here, it seems like most of you voted for Jill Stein. So we did have one non-vote. which is, I think, a smart choice, to be honest. I think Donald Trump is a terrible person. I think Kamala Harris is... I'm not sure she has enough character to be considered a person. She's just sort of an empty vessel that does whatever her controllers want her to do. Jill Stein is a third party candidate. She has been, I'm not sure if I even trust her, but she has been vocally more supportive of Palestinians, more fair on that particular issue than And I think it makes sense for Muslims, Arabs, non-Arab Muslims in the United States to vote and not vote for someone who said they were going to do a Muslim ban like Trump or someone who is currently in power and has resided over one of the greatest genocides ever. in modern human history and so this makes a lot of sense to me so guys I think probably what you guys did was the right thing so I'm seeing a lot of comments that you guys voted green. So you voted for Jill Stein. I do see one Trump and I understand, okay, Jill Stein, her probability of winning is zero. So I understand why some people just may not want their vote not to have an impact. But the important thing is that Muslims are known for voting. Regardless of who you vote for, it's probably not going to sway anything. Actually, with regards to Michigan, for example, which has a big Arab population, a Muslim population. their vote may actually determine how that state goes. So actually, it's quite consequential in that particular state. But the important thing is that Muslims have a habit of being engaged politically. And like it was being said on our discord, there's no reason why Muslims can't be elected into first mayoral positions and then maybe the senates in their states or the... the legislative bodies of their states, we should have a Muslim governor, inshallah. And there's no reason why we can't have a Muslim president in this country, you know, ten, twenty years from now. I don't see why that can't happen. And I think, to be honest, you know, Muslims are one of the few countries groups of people that have maintained to a large extent some of the traditional values that used to be very commonplace in the United States. So we should not cut ourselves short. I think being involved in the political process is very important. And so I'm really encouraged by how many people went out and voted, regardless of who they voted for. So let's check in on a. Let's check in on a different channel here. See if we can check in on. Well, CBS aren't talking about the elections. Let's go to. Oh my gosh. Fox Business Livestream. Says in the corner. Add five of thirteen. Okay, so we're not going to check in on that. Let's see what Al Jazeera has to say. Just kidding. Okay. Yeah, nothing yet, guys. That's too interesting. I will obviously keep you guys posted as we get more developments here. If you guys have anything interesting that has just come across the wire that you'd like me to share, please let me know in the comments and I will. So looking here. It's really too close to call. Should start getting some exit polling results. What'd you guys think of the markets today? Kind of surprising how it almost, I expected a rally to take a bit of time and perhaps the markets to wait before they rallied, but, and they rallied pretty hard today. Dr. Khaled says I'm not a citizen, but other family members voted for Jill Stein. Yeah. Common, common theme. comment says salam brother by the way do you guys see hymns hymns did really well and but then it pulled back today their earnings were fantastic I still think I mean this is one of those you know opportunities I think for hymns where the market just doesn't really understand it that well and so it's giving investors opportunities investors who didn't get it the first time so you can see like we've visited the twenty five uh area twenty five dollars per share you know a number of times here and uh we've pulled back now to twenty but You know, if you look, you know, a few months ago, this was trading at ten dollars per share. So we've rallied hard here. And I think their earnings are really spectacular every time they report earnings. Fantastic. But for some reason, this company is just shorted a lot and it's giving us the volatility. It's giving us opportunities to pick up more shares. So great earnings report by HIMS. So, yeah, I do expect that definitely a Trump win will give us some more strength in Tesla. We're at two fifty right now. And, you know, prior to a Trump win, I think we go a lot higher. I think we might go to three hundred before the end of the year. I guess joking about Haitians in Ohio might come to bite him. Yeah, the famous Haitian lobby may have not liked that. I just don't see how Harris can win with the lowest African-American vote in recent years. Young voters and Muslims also very upset with the Dems. Yeah, as they have every right to be. I mean, Obama was out saying, oh, I can't believe Muslims are going to vote for Trump, even though Trump said he would do a Muslim ban. Bro, Obama was like one of the worst presidents for Muslims. As much as he provides lip service and is an elegant speaker, he was a terrible president for Muslims. Absolute disaster. So if Obama is wondering why Muslims aren't voting Democrat anymore, he should look in the mirror because he was an absolute disaster of a president. good only with words and with actions. He was absolutely terrible. Rashad says, if you eliminate comedian, you should remove Hollywood and singers, et cetera. Yeah, absolutely. Like why do these people even matter at all? Like why do people actually look to them for political advice or any type of advice? They're just famous people. That doesn't mean they're smart in any way or wise. DJT was halted several times. Yeah, I mean, I would probably delist DJT before I delist something like Supermicrocomputer. I mean, this is a company that's seven billion, a market cap, close, and it's generating eight hundred thousand in revenue, a quarter. It's losing and its EBITDA is negative eighteen point six million. I mean, this is this is a meme if there ever was one. It's a meme stock of meme stocks. Yeah, Ali says exactly Trump is the worst in terms of character, but in action he has done much better. yeah I mean which is not saying much it's like being the tallest building in plains georgia but you know I think in terms of actions uh republicans you can make the arguments republican republicans have been better than democrats the democrats have been absolutely two-faced and untrustworthy As have Republicans, man. But, you know, it's just which bad choice is better? That's the question. Lily CEO is very vocal about companies that copy and paste myths. I think he was referring to HIMSS. I felt like he was going to push the FDA to shut down these companies. Yeah, I'm sure he'll try. I mean, it's not for no reason that he doesn't like these companies that are creating the exact same medicine at a fraction of the cost. that they're able to command only because of their brand name. So I can see why he's upset with those companies. But I think that... I think that it'll be hard for him and other companies like him to eliminate these companies because they've proven that they can provide medicines that are in shortage, that are in need, that are helpful for people and sometimes inaccessible because of price. So his comments are not surprising. Yes, but only Muslim senators, governors, and mayors are Democrats. Yeah, that probably should change. I mean, Democrats don't share, you know, a lot of our values. I remember, you know, with Obama, for example, he was pushing hard to, I mean, Obama presided over the Syrian revolution and basically the Syrian population being blown up by barrel bombs. And he was really pushing for Syrian people not to have access to anti-air weaponry, right? So he became part of that conflict because he was really active in preventing Syrians from being able to defend themselves and probably indirectly caused tens of thousands of deaths. And I still remember this. This is imprinted in my brain because it was like, man, this guy, he goes in public and talks really softly and elegantly. as if he's a civilized person. But then if you look at his policies, he's got to know, he's smart enough to know that he's causing so much death and destruction. And this particular episode is seared in my mind. Apparently in North Carolina or something like that, one of those states, they prevented a dude, a guy, a woman's bathroom and the press secretary at the time of Obama comes out and she's like to the people and the courts basically upheld the ban on males in women's bathrooms. And she comes out and she's like, to the people in North Carolina, And she's basically talking about this one pervert that tried to go into a woman's bathroom. We see you. That's what she said. She was like, we see you. And I'm like, this is insane. You see this pervert that's trying to go into a woman's bathroom in North Carolina. You don't see the tens of thousands of people that are getting their faces blown off and the chemical weapons that were used against them. You don't see that. You see this pervert. trying to get into a woman's bathrooms. That was seared in my mind. I was like, I don't think I'm ever going to vote for a Democrat ever again in my life. People are hypocrites. Ali says, HIMSS financials are such a beauty, literally just a healthy company. Yeah, absolutely. I mean, it's like a work of art. If you look at their earnings and their growth and what they can do, if we look at what they can do unburdened by what has been, then HIMSS is an absolutely great opportunity. Sultan says, do you use candlestick charts? Yeah, I do. The Republicans, you want to see these in candles, hims and hers in candles. There you go. There's candles for you. Hello brother. Is there any way to communicate with you or book a discussion session? Yeah. The link to book a consultation is in the, is in the description of this video, as is the link to become a member if you aren't a member already. Yeah, these liberals have gone off the deep end, really. I mean, it's very hard to support them. Checking in on betting odds here. About fifty eight forty two for Donald Trump. Let's check back in. Let's see here. Yeah. Are these guys just going to play ads all the time? This is Fox Business, by the way. just basically an ad machine like the cbs guy is going on about let's get some volume here In history, ranging from shortened timelines to unpredictable speeches, we're going to take a closer look at each campaign's very different strategies and whether that has helped or hurt their bids for the White House. Let's go back to. Let's go back to NBC and see what they're going on about. It's got a two hour long special live coverage right here. Decision twenty twenty four on NBC News. campaign correspondents covering both Team Harris and Team Trump out in the field as we're just getting that exit poll data showing the favorability for each candidate. And I want to start with Vice President Harris. Forty eight percent see her favorably, fifty percent unfavorable. Peter, let me ask you, what's the sense you're getting from the campaign as they've been watching not just the exits come in, but also some of that data from precincts, folks reporting, et cetera? Yeah, well, certainly the favorable number is a number they feel good about, that they perform better than former President Trump. Well, this is actually encouraging. If you see in the bottom, Pennsylvania exit poll, are Kamala Harris views too extreme? Oh, forty nine percent. Yes. Forty nine percent. No. So it's kind of down the middle there, if you believe this poll. and Joe Biden right now. Obviously, there was some concern that Joe Biden could be sort of a weight, an albatross around the neck of Vice President Harris, but she's outperforming him by seven points in terms of favorability right now. That's something that the folks in Wilmington or the folks who will be here at Howard University tonight alongside the Vice President feel good about. I'll tell you what else. we're hearing from a senior campaign official within the course of the last several minutes they're saying one thing they view as encouraging right now is extremely high turnout among college voters particularly they give us the example of what they're seeing in the state of pennsylvania pointing to the campuses of lehigh and lafayette they say at least at one of those campuses there are lines that extend for up to seven hours right now they say the campaign is sending support and surrogates to keep students in line a separate senior campaign uh advisor telling me just moments ago That support comes in the form of some of the stars of the films from the Avengers series. Paul Rudd, Mark Ruffalo, and Don Cheadle, among others, will be heading to campus to try to enter. Oh, yeah, great. Whenever I want to know who to vote for, I ask myself, what would Don Cheadle do? It's insane. All right, guys, there's still nothing. I mean, the polls, you can't really... get anything from the polls because they can be skewed um the fact of the matter is the betting markets are uh what they are right now it's fifty nine percent donald trump forty one percent kamala harris so people with money don't really care about what these guys are talking about about their uh polls But I have to say, it's kind of a toss-up at this point. What matters is when the actual results start coming in and how those results turn out to be. So I'll keep you guys posted. I may go live again. We'll see. But for now, I think you're caught up on what you need to know. And if you enjoyed this live, leave a like. I'd really appreciate it. Hit the notification bell so you know if I go live again. Until next time, make sure to take care of yourself. As-salamu alaykum and peace be upon you all.