 after about six to eight months of researching, I realized there was a lot of fraud, but they were making up their numbers. So you couldn't just sort of short the stocks, you had to actively expose them. So I want to start off with a very basic question, something we always ask, but how did you get yourself involved in markets, equities, and all that stuff? I used to want to be a journalist. So I, during college, I worked for my college paper. And then I got a summer job at a newspaper up in Canada, the National Post. So it was for the business section up there. That was after junior, after senior year, I then got a job at the Globe and Mail. And, you know, I wanted to write for the business sections because I thought it would be interesting. I became an economics major, was sort of interested in that, but I mainly wanted to be a journalist. And then I read the Warren Buffett biography by Roger Lohenstein and they were the top investor. So, you know, I thought to myself, hey, if this journalism thing doesn't work out, investing doesn't seem too hard. So the journalism thing didn't work out. And I moved down to New York, got an investment banking job, and then went to a hedge fund and then started my fund. That's really cool. Did you have, like, ever any dreams of, like, I don't want to say day trading, or like actually trading the stocks intraday and all that stuff, or was it always the idea of I want to be a long-term investor, slow and steady, like Ben Graham says? Yeah, long-term investor. That's very cool. Very cool. And then how will do you when you started at Carousel? I launched Carousel when I was 29, I think. That's really cool. So how did you take that step from working at a hedge fund to now starting your own thing? Like, was that jump like super, super difficult, or was that jump kind of like a bit easier for you? So my fund at the time wasn't, you know, it was a distressed fund, and they had part of their assets in less liquid assets in 2009. So they weren't doing that great. And, you know, the real options were switching to another fund or starting my own thing in 2009. And I just felt that, you know, why not go for it? Job market wasn't super hot early 2009. And so, you know, I thought to myself, let me, you know, launch the fund, start building a track record. And if it doesn't work out after two or three years, I could, you know, go back work for another fund. But, you know, in the end it worked out. So, you know, I think when you're younger, there's less, you know, it's less risky, you have less to lose, right? If it doesn't work out, whatever, you go get another job. And I've seen a number of funds just start out when the manager is very young with very little assets. And, you know, they've grown nicely. So I think it's doable. How, when you went from the hedge fund, you launched Carousel, what guided you into selecting these companies that you decided to research and especially the ones that you consider overvalued? Sure. So initially, I mean, I launched with $300,000. So very little money. And I thought to myself, well, you know, one of the ways I can get my name out there is by writing reports on some of the stocks that I owned or just, you know, providing this research for free. You know, Twitter wasn't really a thing then. Seeking Alpha didn't really have the sort of sophisticated articles it has now. There wasn't this concept of sharing ideas on the internet. Hedge funds doing so wasn't really a thing. Now it is, you know, a sub-stack as you're replacing a lot of sell side research, just in terms of quality of contact. Short activists are, you know, very present in the marketplace. People sharing ideas all the time. The idea sharing websites are, you know, great ways to source ideas. This stuff didn't really exist back in 2009. And so, you know, my idea was to start this email list, share the research more broadly and get my name out there. And so I started doing that in 2009 when I launched. And then one of the areas I started looking at were these, initially it was SPACs that were buying Chinese companies. And so that was sort of my first introduction to why they're misaligned incentives for SPAC sponsors. Because basically, SPACs were acquiring Chinese companies at like 2.0 FE. But there was no company. There were fake companies. And so, you know, you'd think to yourself, well, why would a seller sell his company at 2.0 FE? Well, if he was making all the numbers up, sell it at 1.0 FE. Right. And so I started looking at these SPACs. And after about six to eight months of researching, I realized there was a lot of fraud. But they were making up their numbers. So you couldn't just sort of short the stocks. You had to actively expose them. So I began exposing them. And a lot of short activism developed out of that. Before people exposed to Chinese companies, it was just Andrew left of Citron Research with his blog. Money Waters came out with the first ever real full length report in April 2010 on Orient Paper. I wrote on a company, China American Food under a pseudonym, like Chinese company analyst, on Seeking Alpha. And then I sort of came out with the carousel. I did everything under carousel in November of that year. Citron came out with something on China Biotics a month later. And, you know, short actors really developed out of that. So it wasn't originally, I wasn't intending to share research on shorts. But once I figured out that all these companies were just making up their numbers, you know, it was a great way to generate some P&L. And so, you know, I started using the research and sort of the platform on the short side. And then investors came, you know, came to us and said, Hey, you know, this is pretty interesting. And they started giving us capital for short activism. So I became a short activist, but it wasn't really the intention where I lost the fund. I wanted to just go long stocks like Damn, that is actually crazy. You're kind of like a like a pioneer for this type of stuff, you know, like, like, you are just kind of like, it just kind of like happened. But like, you're kind of one of the first people like, once the internet like was really happening that like, you know, that were like, that were like out, like doing this activism, you know?