As-salamu alaykum, folks. I hope you are doing well. Today is Friday, February seventh. Jamal Mubarak to everyone. We got the job numbers today, which I said would move the markets, and indeed they have. We also got some saber rattling from newly newly President Donald Trump, or at least someone he assumed his role recently. I can't talk today. Sorry. But yeah, more saber rattling about the tariffs. The indices are all in the red right now. The dollar index is up point three one percent. The VIX is up. That's the volatility index is up. And the Yield on the ten-year treasury is up one point one percent. So all of these things are are not really good for markets. The index, the dollar index being up, meaning the dollar is becoming more expensive. The VIX, meaning volatility is increasing or nervousness in the market, as well as the Ten-year treasury is increasing as well. So confidence in the dollar longer term is waning. And so all of this impacts the indices in a negative way, impacts risk assets in a negative way. And perhaps the confluence of all these factors is impacting the price of gold right now at two thousand eight hundred and fifty nine, close to its all time high. It's performed very well since the start of the year. We're talking about a. For gold. an upwards move of close to nine percent uh since the start of the year so basically just one month and that's really unheard of for this risk off asset uh bitcoin dogecoin solana they're all they all stink right now they could stink a lot more and perhaps there's a possibility here for further drop. But again, I'm not really concerned about the end of the bull market. I don't think we're near there. So I do think there's still another leg up here in the crypto market, but there is some volatility to be had. And the smart investor is the one that's going to take advantage of these circumstances. Now, in terms of the reports that we got, some of the details, consumer inflation fears spike in February as tariff worries hit sentiment. So tariffs are going to cause inflation. Inflation doesn't really allow the Fed to cut interest rates. That's bad. for the market. University of Michigan Consumer Survey showed that respondents expect inflation a year from now to be four point three percent. Remember, the target is two percent, so more than twice the target. A one percentage point jump from January and the highest since November of twenty twenty three. Not good. Worries over inflation dovetailed with lower optimism overall as the headline index fell to sixty seven point eight, a one month drop of four point six percent and an eleven point eight percent move lower from the same month a year ago. So things aren't headed in the right direction in terms of consumer sentiment. we also got the jobs report the jobs report said non-farm payrolls in january rose by a seasonally adjusted hundred and forty three thousand for the month down from three hundred and seven thousand in december and below the hundred and sixty nine thousand forecast so two things are happening simultaneously both are not good It appears that the economy is slowing down and inflation worries are picking up. So something like stagflation, the worst thing that the Fed wants. Now, in response to this, I think that the president. will likely cool it a bit with this tariff talks, especially since there's nothing to gain from tariff talks. There's a bunch of debt that needs to be refinanced this year on the U.S. government's books. And so they need to bring down the interest rate. They're not going to do that if there's high inflation. So, you know, This new administration really needs to get it together and stop tanking the market and making things worse. We're already in a very fragile situation, trying to balance inflation fears and fears of the economy slowing down. If we look at the probability for an interest rate cut in March, that has basically tanked. It's now at only an eight point five percent chance of a cut in March. Ninety one percent chance that we won't get a cut in March. If you look, if you go out to May, there is a twenty four percent chance or actually twenty four point nine percent chance of a twenty five base point cut. a one point seven chance of a fifty base point cut. So we may be, you know, it's still less than likely to get a cut all the way to May of this year. So something's got to give here. I personally don't think that the economy is going to do well. if the rates of interest remain where they are right now. Now, if you look, historically speaking, the rates of interest are not that high. If you look in the last twenty years, they are very high. And so they need to come down. The economy is not really used to dealing with interest rates this high. And they can't come down if we keep talking about tariffs that aren't going to do anything for anyone. Tariffs aren't the solution to the problems. I think something like Doge is a good start where we're cutting wasteful spending. That's a good start. That makes sense to me. But making things more expensive and bringing to the United States jobs that we don't want to be here in the first place. And it's a good thing that they're not on U.S. soil because of the environmental costs and the fact that these jobs are not necessarily high paying jobs. We don't need the... Dave Chappelle has the jokes like, stop trying to bring Chinese jobs to the United States. It doesn't make any sense. So we don't need to... Yes, certain products, it makes sense, but... A lot of the stuff that they're putting tariffs on makes no sense. But the president, his understanding of economics is, oh, deficit or trade imbalance, bad. That's not necessary. That's not always the case. So with regards to other miscellaneous data, Amazon reported earnings. They tanked after they reported earnings. They're What was noteworthy, though, is that they are going to invest a hundred billion dollars into AI infrastructure that beats Microsoft. It beats Alphabet. It beats Meta, what they're expecting to invest in the twenty twenty five calendar year. And it doesn't seem like any of these numbers have come down. In fact, they've risen since the Deep Seek revelation, which is good for Bitcoin miners that doubled as AI plays and AI infrastructure plays. As it relates to Solana, basically the chain where everything happens in crypto, Solana VanEck came out with a price target for Solana of five hundred and twenty for twenty twenty five. And they did that based on their estimates for liquidity levels and estimate for the smart contract platform market, which Solana is a blockchain for. And they came out with a price target of five twenty. I think that's more reasonable than some of the other price targets I've seen, talking about, you know, a thousand dollar token for Solana in the next twelve months or sometimes even higher than that. That being said, I do think five twenty is is very bullish. It's not insane, but it's very bullish. I would say. You know, if we get to. If we get to three hundreds, I would sell. But that's not financial advice. Do with that what you will. If we get to something like three hundred, I would I would definitely sell. All right. So let's go to questions very quickly. By the way, if you do enjoy this, like to leave. Can't speak today. If you enjoy this live, leave a like, please. I'd really appreciate that. Become API. Remember to follow our portfolios. Alhamdulillah, our picks have been doing very well, with exception to Tesla, which I think is presenting a pretty strong buying opportunity. Not financial advice, but if you were looking for a buying opportunity, I think now is a good candidate. they're hiring for their Optimus robots, right? So I think they're gonna roll out a few off their assembly line this year. That's gonna be really bullish for the stock because once the economics for the Optimus robots becomes tangible, Analysts are going to start forecasting, hey, how big can this business become? What's the size of the market? What are the potential profit margins on each robot? A lot of these Wall Street... Analysts have been postponing even including the robot business into their models because, well, they haven't sold the first robot yet. That all changes. Once the first robot is sold, it could get a really big upwards move for Tesla stock. Let's go to questions. Amir says, it's a much better time for the live. What are your views on the latest Merck and Adcore earnings? Well, I think that the stock prices kind of reflected the quality of their earnings. of their forecasts. These two companies have really been underperformers. I think management needs, at least half of the management in each company needs to be fired. They had really good opportunities to do something and they haven't. And so, yeah, I think there's better companies out there. Safi, what do you think the impact of BYD has press will be monday I'm not sure what that's referring to I sold all my growth portfolio miners for tesla I just couldn't miss tesla at these prices and what you have been saying on tesla of course not financial advice dca up nice Nice Malik. I think that, you know, one of the reasons why people don't enjoy investing is because they always, they're stuck in the, you know, what if I did this? What if I did this? And they don't actually look at how their portfolios are performing. So if you look at how your portfolio performs and you hold it for long enough, I think you'll be very happy. The only way you won't be happy is if you start comparing, oh, well, if I had put in this other place, then maybe I would have been up more. And that robs people of their happiness. So my advice would be to look at how your portfolio performs. And based on what you're telling me, if I had to guess, it's going to perform quite nicely, inshallah. Dr. Bas, assalamu alaikum. When do you expect a breakout in crypto? Well, we need to get a better rate cut probability for a breakout in crypto. Crypto is largely a... a measure of liquidity in the world now there are other places in the world where rate cuts are happening that's great and so that because crypto is a global asset that's going to help us out but we need the you know biggest economy is here in the united states the most liquidity here in the united states what's going to matter the most is what happens in the united states And so it's important that we get a firm picture on when the next rate cut is going to happen and then crypto can start around. Now, we could get some catalysts before then, for example, some more policy catalysts from this new administration. But those are not sort of long lasting. The liquidity picture is what can sustain a prolonged bull run. XRP, I've mentioned it before. The inflation picture for XRP is uncomfortable for me as an investor. He is going crazy with tariffs. I would agree with that. How will cryptocurrency do? It's tough. You're seeing cryptocurrency react rather strongly to news about tariffs, even though cryptocurrency is a global asset. The reason why it's reacting very strongly is because tariffs are expected to affect inflation. Inflation is expected to... impact monetary policy. Monetary policy determines how much liquidity there is in the system. And that really is what drives crypto up or down. Sophie, I'm new to PIF and want to start investing. That's awesome. If you haven't become a PIF member that can follow our trades, then become one. I think you'll get a lot of good ideas. Amazing amount of info in this live. That's my pleasure. Thank you. I'm glad you enjoyed it. Tesla sales on Europe tank. In Europe tank. I addressed that yesterday. I think that This is not necessarily cause for concern. Chinese vehicles are lower price and they're smaller in size, and that's more appealing to European consumers. That being said, when the full self-driving comes out, I think the competitiveness of Tesla cars is going to shoot up. Just go to Halal Portfolios, brother. You can see our portfolios. All right. Someone says boycott Tesla. Okay. What do you think of Nvidia? Do you think waiting till earnings report? I think Nvidia is fully valued. I see more downside than upside at this particular point. I'm not saying that I think it's probably going to go down. I just think that the potential upside... So if we look at the tail ends of the probability distribution curve, the potential upside from here is limited. But something happens like a deep seek or something that changes our understanding of demand for these chips, the downside seems steeper. If I check QE and then turn the printer on, crypto will come back. Yeah, I do think that that's probably what crypto is waiting for. Oh, BYD will have a press conference about autonomous driving. Well, we'll see. We'll see what they say. It's possible that there are more than one... So, you know, every car in the future is going to be electric and it's going to be autonomous or else or or let's say ninety five percent, you know, in twenty years. That's that's what's going to be the case. Every car is going to be electric and it's going to be self-driving. So I don't think it's, you know. I don't think it's a stretch to say there's room for more than one company to be manufacturing electric and autonomous cars. But we'll see what BYD says. I'm not really that concerned. Like I said, there's room for more than one company at the rendezvous of victory. Maybe I'll take another look at SMCI. Well, if EU produces nothing but regulation, so I think probably FSD will will be heavily regulated in Europe and will basically retard the advancement of that particular continent. Europe is, I mean, they don't make anything anymore. They're not really as strong of, they don't have as strong of economies as they once did. They're not the heavyweights that they used to be. But I do think the UK is an exception. Germany is an exception. And I think these countries will move a lot faster in terms of FSD than Greece, for example. amd stock I think they have I think they have relations with israel every time I look it's kind of a different answer but I think they have some pretty substantial relations with israel take a look and let me know if I'm wrong Mubeen says, Salam, brother. Following you for a few years now. First time on the live. Well, glad you could make it. General question. Why do people choose to invest in crypto over equities? Potential upside. Think of it like a penny stock or something like that in terms of their volatility. So more risk, yes, but more potential return. That's what attracts people to crypto. Don't try to tell me it's, you know, the movement and the community and all that stuff because that's not why people are investing. They're investing because of the potential upside. And with that, if you enjoyed this slide, do leave a like, subscribe, become a PIF member if you aren't already. Enjoy your weekend and let Allah subhanahu wa ta'ala take care of everything that you cannot control. Jamal Mubarak, as I said. Assalamualaikum and peace be upon you all.