Jun 28, 2023 3:11 p.m | 2 minutes read
Renowned businessman and Global US Investors CEO Frank “Bulldog” Holmes was watching Gasoline Gas PreMarket Prep show on Wednesday morning to discuss a variety of topics including how this US Global Jets ETF (NYSE:JETS) is up 15.4% over the past month.
JETS counts the “Big 4” airlines – Delta Air Lines, Inc. (NYSE:DAL)United Continental Holdings Inc (NYSE:UAL), American Airlines Group Inc (NASDAQ:AAL) and Southwest Airlines Co (NYSE:LUV) – among its holdings.
Here are some highlights of the discussion Holmes had with the co-moderators Joel Elconin, Mitch Hoch And Dennis Dick:
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- airlines: One of the strongest leading indicators of economic health is the Purchasing Managers Index (PMI), especially if you want to look at commodities, Holmes said. “And if you want to look at the overall economy in America and the world, you should look at JETS,” he said. Why? Nowadays there is no discount on flights. “We’re back to pre-Corona ticket prices,” he said, noting that consumers are no longer afraid to go on vacation. “There’s no rebate… that means a stronger economy. JETS says the economy is stronger than we think,” he added. “It will be maintained.”
- PMI is the only headwind: The PMI is “very weak again in China”, says Holmes, referring to the decline in copper, steel and oil prices. But this is a bright spot for JETS. “Guess what’s good for the airlines? falling oil prices; that’s even better for the profit,” said Holmes. “So not only is the consumer booking and paying full fare, airlines are now getting this margin cushion as well as the price of oil falls. So this is a very positive scenario for the entire industry.”
- Web3, Digital Transformation: Holmes, Chairman of Hive Blockchain Technologiespraised artificial intelligence (AI) and chips NVIDIA Corp (NASDAQ:NVDA) for the opportunity to profit from cryptocurrency mining. By mining smaller proof-of-work coins that have higher profit margins, Holmes converts them to bitcoin “to pay the bills.” AI “has been an important part of our growth,” he added, calling the launch of ChatGPT “unprecedented.”
- NFTs: The NFT art world is very disruptive to art dealers who charge 50% commission, says Holmes. “It’s like Uber is turning the taxi business on its head so that it will continue to grow along with gaming,” he said.
- How Holmes got the nickname “Bulldog”.: Holmes played “all the major sports” in high school, with the team’s mascot being a bulldog. “I was known for my defense,” he said.
To watch the interview, see below or click here.
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