As-salamu alaykum, folks. I hope you are doing well. And as the title suggests, if I may borrow from the current president a phrase, it has become tiresome to constantly be winning as we are, alhamdulillah. The indices are Basically in the green today, the Dow Jones was down a bit. Yesterday it was up eleven hundred points. So taking a breather is to be understood. VIX is down. We're now below twenty, which is great. We are well removed from the height of uncertainty that followed Liberation Day. And if you look at the NASDAQ is up one point five percent. The Russell is up point three seven percent. Again, had a monster day yesterday. So a bit of consolidation is to be expected. Now, looking at the individual positions, if you look at MicroStrategy of four percent, Tesla's up close to five percent. Bitdeer is up one point seven percent. Iris Energy had a big day today, up eight percent. And gold is still at thirty two hundred. It took a pause from its recent dip. The Bitcoin price is now at one or four. We are getting ever so close to its previous all time high. And with that, a lot of shorts are going to be liquidated, as I mentioned yesterday. Solana is at one eighty two and Doge is floating with twenty four cents. So really across the board a pretty good day for the PIF portfolio. And yeah, tired of winning is the title. April CPI came out today. As I mentioned yesterday, I thought we'd come in with a good number and indeed we did. The expectation was a two point four for the annual inflation. We came in at two point three, which is good. CPI rose just point two percent in April. So this gives the Fed a lot of room to operate if it wants to cut rates. However, it's not like the economy isn't doing well. Earnings reports have been coming in pretty solid and we'll see on Friday, we get the consumer sentiment report. I suspect there's gonna be, well, actually probably still lagging, but in future consumer sentiment reports, I suspect it's gonna show some improvement. Now that the tariffs have, you know, the biggest threat, that is the tariffs with China have largely been somewhat, I guess the edge has been taken off, I guess, from those tariffs. It does seem like we're moving towards an agreement. If you look at the component parts of the CPI and the increase that we saw, shelter drove over half of the monthly gain, energy, and food actually fell. Grocery prices actually fell slightly. Core CPI, excluding food and energy, was up only point two percent. So I'd say that's a win. Donald Trump definitely thinks it's time to reduce interest rates. No inflation and prices of gasoline, energy, groceries, everything is down. The Fed must lower the rate. Europe and China have already lowered their rates. So he has assigned a nickname to Powell, too late Powell. And I think that there may be some merit to that nickname if Powell insists on waiting for the data. I do think that... depending on the hard data reads that we get, it may be time for Powell to reduce interest rates. And I really don't, I saw someone on CNBC today saying that they didn't think any rate cuts would happen in twenty twenty five. I strongly disagree with that, primarily for because of the refinancing that have has to happen this year and the massive amounts of debt that the government is that the government is in need of. We are still running a massive deficit. And so there's going to be rate cuts this year, and that's really good for risk assets. Now, if you look at July probability, they're basically unchanged since I last reported them with only a around thirty five percent chance of a rate cut in July. Basically, in June, the market is saying there will be no rate cut. There's only a ten percent probability of a rate cut. But in July, that probability is closer to thirty five percent. And so we really have to go out to September to see our first rate cut based on market pricing today. it does seem that we've avoided the bear market this observation from seth golden this is if this is a technical bear market rally it will have proven to be the greatest of all time rallying seventeen point three percent off the closing basis low next closest was a sixteen percent rally uh from the low ultimately delivering a real bear market that was in nineteen fifty seven uh so you know if history is any guide hopefully This is not a bear market rally, and indeed we have avoided the bear market. As I've been saying on this channel, I think the liquidity cycle suggests that we are still in a bull market, and hopefully this is an added piece of evidence that suggests the same. Hims and hers was up close to sixteen percent today, and I was trying to figure out what news brought it up as much as it did. And something that caught my eye was the fact that close to thirty-five percent, and this was as of April thirtieth, thirty-five percent of the float is shorted. Not really sure why these shorts are so insistent on shorting the stock, but it's causing massive moves in this particular stock. And even today, if you look at the shares available for shorting, they were falling. uh, with time after this massive rally. So people are shorting on this, uh, rally and this is going to cause massive moves up and down, uh, for him slacks, which is basically a trader's dream. Uh, if you're into trading, it's a solid company. And so when sometimes when trades become investments, that's not too bad of a deal. So if you're on a trade and you're on HIMSS and you end up on the wrong side of it, well, you just convince yourself that now your trade is a longer term investment and things will work out. Again, HIMSS was part of our portfolio. We ended up selling it because I just became uncomfortable with their marketing and sort of the The vibe of the marketing was just off-putting to me. It seemed to be promoting certain social values that I didn't agree with. And so I sold it. But as a company, it's definitely a solid one. And another investment that has turned out very well. For me, I did tell PIF members about it back in January, but Syrian Pound today, after the announcement from Trump that the Uh, the sanctions on Syria that have been in place since I believe. will be removed, at least as per what he said, will be removed completely. And so some are saying, and my first source of any financial data is Abu Wok Al-Jolani. Some are saying the CRM pound has actually reached seventy five hundred per dollar. And in case you're wondering, when I bought it was close to thirteen thousand. So close to double our money here. The W's are coming in fast and furious, alhamdulillah. And so good thing I bought Syrian pounds in January. And congrats to everyone who did the same. So with that, let's go to some questions. Dr. Khaled, it's so tiring to keep winning, isn't it? Yeah. It's my pleasure. Mr. Haroon, what a title. Yes, indeed. A good day is Alhamdulillah. I think the Ummah is on the cusp of a really great period of time, very unlike what we've been experiencing. And a lot of it goes, the credit for a lot of it goes to the sacrifices of the generations before us. who were dealt a really tough hand, but now I feel like we're in a better position. First, Pakistan did its thing in its conflict with India. Now Syria, I think, is on the right path, and I think anything you touch in Syria will turn to gold. It's gonna be really a major powerhouse in that region. And the speed at which that happens will amaze many. And you have other bright spots, you know, Turkey, Afghanistan, you know, the Ummah in general, I think is really coming up on a very nice age, one that we haven't seen in many, many years. So Alhamdulillah. You may get tired of winning is all I'm going to say. Dr. Basta, Assalamualaikum. Uh, for the take profit price, is there a certain percentage gain we should aim for? Fifty, seventy-five or a hundred? No, I don't aim for a certain percentage gain after I bought it. What I do is I aim to sell when the price exceeds the value. Sometimes I aim for a certain percentage gain gain before I decide to buy. So I look at the upside potential, but once I'm in, as soon as the price exceeds the value, I sell. Rashad's buddy, Powell, and so Rashad is apparently on very close terms with Jay Powell, says that Jay Powell will cut in September. So there you have it, insider information, folks. Rehan Yusuf says, Salam, will we have an update on... PIF holdings that I will surely update you on. Yes, of course you will. Ahsan says, I missed the dip. Do you think this market is still very volatile? Well, you are in luck, brother Safi, because indeed this market will have a lot of volatility and I do expect further dips. And I think that we have an administration where if there aren't any dips, they might just feel like creating one because I feel like they like being the center of attention. So I expect a lot of volatility. San says, JazakAllah for everything. Wayakum inshaAllah. Zuhair, Assalamualaikum. Nice to see you. Okay, we'll take a look, Zuhair. Mzika, I follow your strategy, crypto investments. Don't do an ad for someone, please. Like, don't try to be smart. Okay. Someone's doing an ad for someone, I guess, in our comments. But anyway, become a PIF member if you haven't already. Leave a like if you enjoyed this live. Until next time, make sure to take care of yourself. Assalamualaikum and peace be upon you all.