 What's up guys, it's Harry. I'm just editing the podcast right now, and it's definitely going to be a good one James and I have decided to take the podcast in a bit of a different direction We're gonna be transitioning from the interview style to talking about the economy the overall market as well as small caps Alex will also be joining us in the next episode It's also going to be joining us around once a month And we're gonna be just talking about the economy stuff that's going on in the world and as well Of course with Alex. We're going to be talking about some small cap shorts as well so in this episode again, we're gonna be talking about the economy the overall market small caps and That's going to be kind of the way that we're doing this Moving forward as well I would just like to say a quick. Thank you to all our supporters weekly all our supporters kind of monthly Everyone who tunes in I just like to say a huge Thank you to you guys and definitely let us know in the comments below kind of how you feel about this transition If you like this episode Some things to work on and stuff like that. So I just like to say thanks a lot and let's dive right in What's going on guys? We're back with another episode the after-hours podcast It is Sunday July 24th 2022 so everything we're talking about it's gonna be kind of revolved around this time and Yeah, so we're gonna be talking a lot about like the large cap market this time, you know Overall market trends and everything like that. So let's kind of dive into it. So Harry What have you been kind of noticing about the large cap market this last week? For me, it's been pretty pretty stronger. I mean All the way from like, you know, July 19th. My birthday was actually June 18th. I tweeted out I thought it was market bottom for a little bit and we ended up kind of rallying from 380 on the spy We we got to 400 then we kind of took a breather I think, you know, a lot of people are starting to forget about the war I think a lot of people are starting to kind of Inflation start of kind of it's it's kind of becoming old news. It's pretty relevant But like everyone knows about it now. Everyone's heard about it now Everyone kind of understands its effects. I believe now and so I Think a lot of people are just saying to themselves, you know what? I think it's time to put some money back in the market the market it has, you know taken quite quite a hit You know since April since March So I think that a lot of people are gonna start trying to put money back to work I know a lot of people are saying oh Hedge funds are not buying no one's buying But obviously someone's buying other than retail to make these kind of types of moves. So for me, I'm pretty bullish I know a lot of people are gonna be shaking their heads going against me But to me, I am pretty bullish. I know that a lot of the Let's say leader stocks have taken hits and that is you know sign of you know things not being healthy But for me, I am I'm just I'm pretty bullish because I think that you know for the most part We have a ton of people thinking that we're going to zero which will never never fucking happen And I just think that we've taken quite a hit do for a bounce pretty bullish Yeah, I I think I think a lot of major names have bottomed I don't want to make any like Major assumptions, but like when there's companies like Apple like I I think a lot of them have I think that There's a lot of names like Tesla that still could they have a lot of room to come down Just because of how overinflated they were yeah Especially during like the Kobe era right where there was just that cult following on some of these stocks So as the air might take a little longer for them to come out Just because you know you look at a company like Tesla and then you compare it to Apple and obviously Apple's Way more sturdy as far as cash flow cash on hand and all that stuff and yeah And and the thing is I think the indices are just gonna take a little bit longer to kind of bottom and really put in a Meetingful kind of area support. Yeah. Yeah, and I just I think people are scared, you know But it was I tweeted about it last week and it was I think it was last Thursday or something that we go and I just I woke up and an apple had taken a huge Beating there's that 143 bucks and I'm just thinking to myself like this is Apple You know this company is not going anywhere until I walk outside and I don't see people to staring at their iPhones or whatever Yeah, I will never not have faith in that company. Yeah, so that was something like for me I personally started buying at least a little bit just get my feet wet and You know, it's that's it I think we are at a point where people are starting to get a little bit more confident Because there was such fear like we hit max fear and max like scared feeling that the market is going to zero like you said, so Yeah, and also a lot of big big cap companies right now, you know, like you're looking at Apple You know q3 earnings are gonna come out, you know, they're gonna slow hiring They're gonna slow spending. They're not gonna do as much research. I think that's a lot of fear based Stuff, you know, I guess like a lot of people to me The thing is with processions and stuff like that in 2008 No one expected it when things start to crash. No one really expects it and for for a lot of people to be coming out expecting a Crash or expecting this or that to me. It's just I'm a little weary because The the biggest panics the biggest drops are gonna be when people don't expect it And when people do expect it and they start getting on the wrong side of the trade and they it was just like COVID, right? COVID market tanked How many times did I hear people going off? You know, you know all all spring all summer saying the market It's it's due for crash due for crash and just kept going up and up and up And I think that's where we're at right now where the market Yes, it's taken a beating but a lot a lot of people are Continually saying oh, it's gotta go lower gotta go lower gotta go lower, right? And when we start rebounding people get on the wrong side of the trade. They're too convicted We see it all the time on a low float squeeze where people are saying this is gotta go down gotta go down gotta go down People are caught on the wrong side wrong side wrong side And then as we keep kind of elevating higher people get more stubborn and more stubborn And that's what kind of leads to those moves to the upside because People are saying right now, you know, oh, we gotta go lower, you know, how many times like I literally posted on my Instagram Okay, and I said, yeah, I think the bottom's in now. How do you feel about that? Do you know how many DMs I got from from fucking Degenerates who are like this is going lower. Oh, you're an idiot way wrong way wrong Harry You're an idiot, you know, when I get those types of DMs. I know I'm on the right track at least When you have people who are so passionate that will go out of their way to DM you to say that you're wrong It's a crypto. Yep. Yep. 100% same idea. And yeah, I think you can't go. So we'll just keep fucking Tripping me and I'll keep fucking making money. I think I think the reality is That we know the Fed basically crashed the stock market to try to curb inflation, right and try to kind of reset things Yeah, and I do think it was needed. I think we I think they did what they kind of had to do You know, obviously it hurts a lot of people but the reality is that everybody fell into the Romance that the stock market only goes up and that everything was super easy and it was the easiest job in the world So I think now too most most people know Inflation is here, right inflation is here to stay the whole transitory idea right thrown out the window It's here to stay. I think major companies like apple Who else was it that said they were slower in hiring as a meta? Yep And we're preparing for a potential market slowdown to call it a recession But no one ever said that a recession has to be the worst thing in the world No one ever said it has to be huge Like oh wait was brutal, right? Yeah, but it doesn't happen. Oh wait people didn't expect people are kind of expecting this now And they're better prepared Exactly when have we ever seen banks like like jamey dime been talking about how They're preparing themselves for an economic hurricane, right? Why would they be telling people that? If they they didn't want everyone else to get caught off guard and screw themselves over. Yeah So I just I kind of feel like this time around it's a much more controlled downturn Um, and what's what kind of news could come out at this point that would change that sentiment, right? Because gas and oil slowly coming down, but it's you know, it's going to be expensive for a bit Inflation's here. We know markets are slowing. Yeah. What else is there, you know, but There's no pandemic coming out again. God knock on wood kind of thing You know, there's nothing that's going to change things. Well except monkeypox the who actually declared it a global emergency yesterday I'll be watching for that. I'll be watching that ticker. Yeah, I think that's going to be a potential, you know Yeah, you throw this for for a little bit Oh, can you hear me still? Yeah, that's weird Um, like I said, just you know, everyone on twitter super bears super negative And I feel like it's the same as small cap trading, right? Is like you're on the wrong if you're on the same side of the trade as every single person It's probably the wrong trade. Yeah, you know, so 100 and I just wanted to transition because Graham Stefan has been tweeting pretty heavily about the whole auto industry collapse And he says that nearly one in every four loans default in washington dc As far as car loans go, which is pretty bad for the car car industry um, you know if car loans were to kind of I don't know if they were to like default or there was a crash as far as you know cars went in it It caused the price of cars to drastically increase. What do you think that that would do? as far as um ours price of oil Yeah, it's funny So I I've kind of been following a bunch of these guys who have been tweeting about this and I think it's even worse than even the preference them or whatever He's made it out to be um Because I was looking online and I guess a lot of people I think it was 18 percent or some crazy number. I gotta get the actual number have have are behind more than three months on their car payments now I don't know how that works because it because cars aren't like homes, right? So if someone defaults in their car, it just gets rebooked, right? There's someone's going to come take it and then it's going to go to auction, right? I always say think so so I don't think that would have an overall effect on the on the stock market But I do think it would drastically flood the car market would like supply You know because for the longest time right now, we've had it's been hard to get cars because of the chip issues People have been buying them like crazy And prices have skyrocketed. So if anything, I think it would do the opposite I think there'd be a lot of cars now available and people would be hurting for it though So, you know, you could probably scoop up cars pretty cheap But I don't know what it would do to the overall market Yeah, that's what I'm kind of wondering because it says auto loan delinquency rates continue to drop across the board 4% of outstanding auto debt is at least 90 days late That's down from 5.3 and 20 in 2010. Well, another 5% are 30 days overdue So it's not it's not too bad. This was March 8, 2022. So maybe we're getting a little worse I I think though what that shows Is that as a country We are falling behind right because I find now The middle class is starting to say More publicly that they are struggling right being a middle class citizen Making, you know, I don't even know what middle class is in this country anymore But whatever that number is not enough, right, you know, and so anyone below that line Now they're the ones they're they're screwed, you know as things get more expensive Food gets more expensive and if inflation stays the rate it is now And they continue to raise interest rates or you know, they're buck with the market a little bit I mean, what's gonna happen? We're gonna get more of that So like I think the scary thing is just seeing that that number could go from You know 90 days late to 120 days late 150 days late And then what yeah, I mean you could really scoop up some cheap used cars, you know Like seriously grams like if we continue on this trajectory it could be due for an 18% decline Um, you know average new vehicle like prices in cars are insane right now. Yeah, I mean They're they're insane. So that needs to kind of a reset too. So Maybe if if you know, they repossess all these fucking cars And uh, everyone kind of goes back to gram zero. Maybe prices can kind of cool off and reset a little bit again Yeah, and uh, you know, that might be some good news for people who want to buy a car Dude, I think I think we've as a country. We've just built up this lifestyle of like debt, right? I know people who make $600,000 a year, but they're driving around in a $1,500 a month car and it's just like when you do the math of it. It doesn't make sense Yeah, so I bet A lot of them like delinquencies are people who just overspends It's not even like it's like they were trying to stay within their budget You know, they took the stimulus checks and they're like, oh, I you know, I saved a lot of money during the pandemic Let me go get a tesla Right. Yeah, I've got a tesla that car payments not fucking cheap, you know, but I think people did that shit Because they felt like kind of money was so good, right? And that's kind of what we're talking about now is that things kind of need to reset And I think the auto industry did I actually recently was just looking at a secondary car And I wanted just a car that I kind of like beat around on and there was a one of the new Ford Broncos are being sold that a BMW dealership next to my shop So I went over and they were only asking like 38k, right? And I was like, oh, I drove it. I didn't really like it as much as I thought I would so I walked away Guy calls me the next day. Now it's 44k Calls me a week later price went up to 49k And then it's sold for like 55,000 some dude bought it. I'm like Do we not see the problem like we're buying cars for way over their value? So it's the same as buying a house for over value except people change cars way faster When you're going to go sell that You're going to be underwater So you're going to be stuck in that toxic debt for the rest of your life And it'll take forever to get out of it unless you just basically lease out or something like that I mean, and that's what we're doing with houses. So I think people we just need to slow down on their spending especially during times of like inflation and stuff like that because Every little dollar is going to kind of save you, you know, it's going to keep you from like getting into these problems these issues Yeah, and exactly right. I mean if you look at at least when you buy a house You know normally you're going to the value is not depreciating like it is a goddamn Ford Bronco I mean in five years. How much is that Bronco going to be worth in 10 years? How much is that Bronco going to be worth right nothing? Yeah, so I mean that's that's pretty crazy I'm speaking of all the spending Lot of Ukraine spending been going on, you know, I've been seeing a ton from the United States side Not as much from Canada, but United States has pumped a ton of money into Ukraine How do you guys feel about that? I am it's funny. So my job so I get to talk to a lot of people daily, right? So I would say most people are confused because we sit here all day long We talk about how bad things are in our country right now. We talk about how poverty is probably at all-time highs Um, the wealth gap is at all-time highs cost of everything's at all-time highs yet Here we are as a country donating billions On billions of dollars to another country. Yeah, I personally I do feel now This is as apolitical as possible with nothing to do with politics I think we're doing it to basically pat ourselves on the back And like say that we're doing what we're supposed to as the world leader But the reality is Ukraine doesn't really stand a chance in my opinion against Russia long term And I think again, we're just doing this to kind of stay In the middle but not over step too far into Russia But I just don't understand it. I don't understand the spending. I don't I I don't I feel as a country We need a lot of help here and we're we're failing, you know as a democracy and there's a lot of problems So yeah, and in Canada we've spent around 3.4 billion in total financial and military support And you know the Canadian government will say that they're proud to lead the way But also, um, we were we were working on this, uh, this turbine for Russia And we were working on it kind of before The whole the whole uh sanctions were put in we were working on it Before russia decided to quote unquote attack or you know, whatever invade whatever, you know, you want to say and um, you know, we So we're working on this this pipeline we put the sanctions in and now russia says well, we want that back now And you know Canada's like, whoa, whoa, whoa, you know, and they're like, well We're not going to give any gas to europe then if you don't give us that damn turbine back So what does Canada do after we've invested 3.4 billion in total support and and we and the united states has spent a lot more money than that and uh All of a sudden what happens we give it back. We defy our own sanctions So, you know, that says a lot about about Canada as a whole and also, you know You can't slant trump for when he went to the uh world leaders meeting and told germany Listen and told the other european countries everyone was laughing at him in germany all the germans were laughing at him And he sat there and he said listen, you guys are relying too much on russia You're relying way too much on russia, you know, and when you rely too much on a country like that, they're going to take advantage of you They all laughed at him said he was crazy said that would never happen And boom, you know, we're in the mess that we are in now and if we never relied on russia at all if uh, you know, we we didn't do business with russia We'd be completely fine But you know, the majority is a lot or the reality is is that the majority of Oil in canada that was being pumped was not canadian oil It was russian Right, it was from the russians and it was from the south east, you know I was pumping my car in canada with russian oil when canada has a You know a crazy oil reserve that we could be pumping right now Yeah, america It's just things that don't make sense right everyone was protesting for this whole climate agenda and don't get me wrong I believe in climate change. It's just that we have to do it in a responsible way And just because we don't pump the oil in canada does not mean that it makes You know a difference if we get it from russia or canada or the united states or the south east It's still the same amount of pollution going in the air people are still driving their cars people aren't right now moving to You know a renewable source and Even these electric cars are not necessarily Uh, you know renewable sources, right? Yes, we're we're plugging it in and and we're not Uh, you know getting it from from and we're not putting gas in our car But you know, how do we make that power? You know, let's go another step further. How are we making that power pollution? So we're still polluting either way I want to and when like three to four times the carbon emissions are You know being pumped in just to make one of those cars. It's like does this make actual sense Yeah, no, dude. I think the the biggest issue is as countries like the bigger ones, right? Like us canada china and all that We are major consumers, right? And we've come so far to expect things to always be very easy Very cheap and kind of whenever we want it. We can get it, right? So Morals take a back seat because look at this whole russian thing, right? If the cost of gas keeps going up, right because we're Denouncing taking rushing oil or from other any of the foreign agencies like the Saudis or whatever The cost is going to go sky high and if the cost of oil goes sky and gas goes sky high Everything else goes with it vacations rentals so much gets hurt cars all of it, right? So at the end of the day I kind of feel like As bad as it is what rush is doing, which is awful Our countries are going to continue to do business with them We're going we're going to have to because in america at least that's all people complain about for some reason the cost of gas Because it may be because the biggest day-to-day like expense that you touch besides food It's all I hear about it's all I hear about and how it affects things So I don't know personally. I'm not a huge believer that electric vehicles are going to be like the next big step Uh, the next I've stepped further but the next big step. I think Oil is here to stay for a long time. I personally like recently just bought a small basket of like oil stocks Because of that reason, I think we're still a hundred years away from being fully electric. We don't have the infrastructure We don't even know about actually recycling the batteries and how much damage that does And on top of it, what is the average electric car cost? I mean not a hybrid a fully electric car It's got to be over 50k that like minimum, right? The lucid is a hundred and fifty hard 38 or something like that and test the start at like Call it 40 or 50 Around there the average person can't afford that and we're not even close to that So and as the economy gets worse people aren't going to have the money to go buy a I don't know whatever the cheapest electric car is it's not going to happen. Yeah, and I mean I mean also like Uh, you know, it does like when you drive a tesla like how much of it is status like how much of it is like the same thing is Or buying some new Gucci slides or whatever, right? You know, I heard this this funny joke last night It was funny where this woman said met a bunch of guys from harvard yesterday And I kept pretending like I never heard of that school just to piss them off And uh, she goes one of them legit turned red when I said harvard What is that like a local community college and then the woman comments below it She said reminds me of my co-worker who whenever she sees a tesla at the gas station or something She'll look over and go wow the new toy. Oh, does look really cool and the drivers freak the fuck out Which is hilarious because Are you driving it for the planet or are you driving it for a status, right? You know, maybe you can say well, I'm saving the planet But I think a lot of people are driving it as you know for a status symbol Yeah, and it's because it's fucking expensive just recently. I was like, uh, my buddy was looking at the Model X And the one said you can want like the nice ones like 120,000, you know, and again, it's Nice car, but majority of america is not going to afford that, you know, especially now You know savings at everything at all time low So and people don't care about the environment when their day to day life sucks Right if they're struggling to get food struggling to get to work Save money they could give less of a shit about the environment, which is not great But that's the reality Yeah, um, yeah, what did I what did I also see? Um I'm just trying to look it up. I saw something about like a healthy economy and a a healthy, uh environment, um, you know if if you have uh You know a very very healthy economy It does translate to a healthy environment just due to the fact that, you know, um, you know If people have money in the bank, maybe they will say, okay I'm going to put this towards incentives to help the environment, right People who are lower class tend to be harder on the environment Just due to the fact that like what types of foods are they eating? Is it going to be fresh foods or is it always going to be coming from a package? What types of? You know, like How how much are they driving right? Do they need to drive to work every day? You know, um as far as kind of uh, like how how much are they are they going through products? You know, are they recycling? Well, probably not because they can't go to a Bottle depot to cash in their 10 cent of bottles, right? So there's all these little things that trickle down where you wouldn't really think about it Um, so for me, I think a healthy economy A healthy environment go hand in hand. Also, I just want to bring up one thing again. I was listening to this, uh Other podcast the other day and they said that He so he's a mortgage broker. He's out of Halifax and he said that You know before he his like before the pandemic before the housing values really really took off About 30 to 20 of his business was these like reverse mortgages, right? So when people take the equity out of their house and like basically take like a new mortgage or whatever, right? But now that houses have risen so crazy A lot of people are taking the equity back out of their house and doing these new finance deals, right? So like let's say that your house is worth 600 k right And you get a mortgage for 600 k and now it's worth 800 k they'll give you that 200 K difference right to kind of reverse that mortgage They'll give you that 200 k you take on that 200 k more depth But at the end of the day when you quote unquote sell your house Well, we're gonna get that money back anyway, so it doesn't matter But I was thinking to myself like what if the housing market drastically falls and in in prices, right? He said he went from 20 to 30 now. He's doing it's like over 50 percent of his business Are these like equity, right? Yeah, I mean to me that could be uh That could be a real You know reason for a crash. Well, I guess I guess that's what we we circle back to is that we are just Consumers my my dad he he builds um kitchens and baths and like homes, right? He's never been busier. This guy has been in business for 35 years and he's done well But he's the busiest he's ever been How does that make sense in a time where we're in a quote unquote recession or a market slowdown, right? It's like how what you're saying people are pulling out money Because they feel that things have been so good for so long, right? It's the same concept like let's say when tesla was trading at Thousand dollars a share you could have taken a loan out Against your tesla stock and then used it as long as it didn't drop It's the same same idea same thought now with housing It's gonna happen if it of course it's gonna happen, right? It has to happen because 99% of people I know Can't afford a house right now. They can't buy a house at these prices They can't put down 10% or even do the first time home buyers. It's it's not gonna end well, right? But I still think we're a little bit of ways to implement. That's why I like stock market wise I do feel like we've bottomed and I feel like we're gonna slowly grind around for a little bit, but q1 q2 of 23 We might start to see a different story. You know, that's when we might just see some Economic collapse. Yeah. Yeah, and I also think that I don't think that they'll let everything go at once. I think every every market will take its turn So stock market was first it could be the bond market after a lot of people have been talking about the bond market It could be a big bond crash as well Um, but I don't think that everything will go at once if if everything goes at once It will be utter chaos, right? They want to do the soft landing and whatever So I think it's going to be maybe the housing market and the auto market and You know, just general prices oil, whatever you want to see it's going to be different assets You know in my opinion You know each each different thing will take its turn. I don't think it'll be all at once But even you have like people who are heads of the bank saying it's time for a little bit of a reset It's time for a little bit of a crash. They're gonna do they're gonna keep hiking those rates until they get that It'll be a Fed induced crash Um, but in my opinion, you know, it's okay for me like it's all right because right now I don't own a house, you know, I'm in an apartment right now Uh, so maybe it will be good for me when uh, if the interest rates are high though, like It's different because like for someone like me if you have cash You can put cash into that. Well, the high interest rate doesn't bother you But if if those high interest rates bother you, you know, it's going to be the same price kind of either way Just different different, you know payment, you know, like So right now we have very very expensive houses, you know, yes, the rates are climbing a little bit But the rates are still generally low But okay, let's say we have low equity. Yes, the housing market has quote unquote crashed But we still have insanely high interest rate payments on those on those low houses, so You know, are you really like I hear all these people? Oh, yeah, I'm buying the debt buying the debt buying the debt But yeah, yeah, you're buying the debt, but at a crazy fucking high interest rate. So unless you have cash Uh, you're pretty much screwed on this dip as well. Yeah, and look, we've been here before right if you look at like history We've been Historically way higher, right? I mean we were at 12 percent. I think as my parents first, uh mortgage was like 12 told nine Right, and I understand the argument of you know, the houses were different prices back then and blah, blah, blah But the reality is we've been here before and I was listening to the uh, the Berkshire Hathaway the last annual meeting And Buffett basically said that, you know, you can say what you want about him But he basically said we have to trust the fed to do what they were created to do And it's gonna it's gonna hurt for a bit But we need to stay on top of our like currency and make sure that we're not screwing ourselves over You know, which kind of cycles beat to my next topic. I wanted to bring up real quick Did you see that article? Um, I think it's from qtr He was saying how russian china basically have announced a new global currency. Yeah, right and That's scary that's scary because the reason the dollar has been so strong And we've been able to borrow as much money as we can and have is because we're the global reserve currency Now what what do you think changes if that Turns around if they know I mean that is something that a country will go to war over right for that status That is very very important. You know for me. I think yeah, if that happens The united states dollar will be in for a fucking tumble and it will not be good for the u.s. Consumer Um, not at all. I mean, I think that You know, could you imagine that it's russia and china global reserve currency with the south east? You know, the united states would be left out, you know, that would be a very very very big mistake to let that happen And how do you even go about getting that back? You don't like not for a while not for 60 70 more years You can't borrow as much money as you can your dollar is a lot weaker You're in an inflation, you know situation right now That would be very very very scary for united states, canada, mexico everyone on this side of the globe That would be very very very scary if that was something that would happen But at the end of the day, there's so much fucking corruption that it just won't It just fucking won't happen because someone's gonna pay someone here to pay someone there to pay this to pay that And it'll all just fucking go away because at the end of the day, what the fuck has russia fucking created Please tell me please tell me has russia created facebook instagram twitter social media did russia create the fucking telephone or the light bulb No, so do I believe that they can create their own currency absolutely fucking not unless it comes out of the goddamn ground there They are not going to create a goddamn single thing. China. China scares me. I think china scares me. Yes China became the way they are Because they've stolen a lot of information They're good at it I mean they've had the programs where they send people here into our into our country and They go to our schooling systems and they basically get jobs and government and education and they report back And they are able to steal information from us at faster rates than we Ever could so the reality is we rely on them so much They continuously buy our farmland They continuously get deeper and deeper into our economy And I think they're close enough to that point where they could just shut us off like that And would be in big trouble, you know Part of me wishes america would kind of just take its footing back and try to rely on itself again Things would get more expensive, but that was the whole idea I guess trump was into not saying I like him or not, but he was saying like america first, you know bring things back to america and Let's be self-reliant again. You know what we changed so much from the last hundred years We rely on other countries to supply us with these stupid phones and like all of our shit Yeah, you know, and it's it's not going to get any better. It's only to get faster So those things kind of scare me. Yeah, I think it's uh, it's pretty wild it is and also I think that You know What what did I read that the united states sold a bunch of their oil reserves to china And hunter biden owned the fucking company like the thing is is that there's just this level of corruption everywhere that That that like, you know, we're just going to keep seeing and keep seeing people are going to get madder and madder and madder At the fucking system, which is not good for the us either, right? Nancy Pelosi. We see her making all these trades She's in the government. She's getting off scoff fucking free, right? You see stuff like that, you know, well, obviously that's not really going to be reported on in the states necessarily But like, you know What the new sec chairman was like Her student or something like that some crazy connection. It's like Well, no shit. There's no inquiry into her trades her 20 million dollar position in the video Yeah, exactly and people just see that and get madder and madder and madder at the system That's not healthy and it's not good and the thing is is that You know, I tweeted out the other day like fuck taxes make corruption accessible for all Because at the end of the day, if you're able to kind of get uh, a little bit of a one-up You know, you won't really care about paying those taxes, you know If you're able to fucking drive down the road at a at a fucking in i'm not saying this is necessarily right I'm just saying that People get angrier and angrier when you know, they see a fucking crown prosecutor pulled over for going 30 over the limit And then he just gets let go because the crown prosecutor, right? That makes people angry, right? And so if you're going to keep taunting people and keep Making people angry, you know, you're at some point There's going to be a boiling point with these trades that you know, congress are doing and it's on both sides republican democrat They're all banking off these fucking trades, you know And so yeah, that's why what I tweeted I was like, you know what if you're if you're going to say that we're an honest and fair country But your leaders in charge are not doing honest and fair things That's a recipe for disaster and that's a recipe for collapse on the on the political side, you know If you ever get a chance everyone should listen to except it's a youtube video Here's a couple of them But one of them is called principles for dealing with the changing world order Ray Dalio, right? And there's a few in there. You can get yourself into like a little bit of a World pool of like all look at all these videos But he does a great job of explaining it because he's basically saying as a country what you're saying We're getting to the boiling point where people are so fed up and pissed about How Unfair this of the world has become I don't say unfair with quotes But how big of the wealth gap has got how people get away The the people who have get away with everything the people who don't have they get screwed So the boiling point unfortunately goes to civil wars civil unrest people are being very upset And that's kind of how like empires fall You know that is we are at the kind of the back end of our lifespan as an empire Yeah, you know and he kind of explains it like it's really hard to fix. It's a little depressing, but You know, it's good to listen to and it's good to know Well, and also I just want to mention one thing we can talk about this and then we can kind of go into small caps and maybe start to wrap it up, but You know There's been uh, I don't know if you've seen it with like the world economic forum and stuff like that but basically, uh I don't know I think I believe it's the dutch farmers or whatever. Um, they they had a ban on all their their fertilizer So basically, uh, you know in that part of the world their government said to the farmers You're banned from using fertilizer now at all. So it's like basically how can I grow crops, right? Yeah Now in canada Okay, they are also doing tariffs on fertilizer. It's all for the quote-on-quote um, you know, uh It's all for this green energy green change You know, you don't use fertilizer because you know, we're gonna go green and we're gonna get our our food from somewhere else But we're going into a food shortage. This makes no sense There are a ton of food plants that are burning down Just randomly burning down 10 000 cattle that just dropped dead randomly from a quote-on-quote heat wave Now they're banning fertilizer in the netherlands. They're you know, pretty much trying to ban fertilizer in fucking canada You know, that is scary when we're talking about food shortages already And now you're trying to cut off this food supply and then we see you know, our our favorite, uh prime minister Justin Trudeau who is Investing in insects. Yeah, I mean What is that he's investing in insects He invested eight million in an insect program an edible insect program. I don't want to eat a chocolate fucking cricket I'm sorry, bro. Just not something that I want to eat, you know That's what this is the only thing that scares me is that we're just at a point where There's a lot of confusion. Like I think uh charlie munger actually said it begs He's like if you're not confused by everything going on right now Then you're not doing it right something like that, you know, it's just everybody's confused There's no one except for the people that are in the now, right like the highest level of government We don't know so the best we can do day to day is just Be the best version of ourselves and be you know, be smart financially for ourselves That's all you can do, you know, and I think people overstress it and it's just All we can do is go with the flow at this point. We're not going to change the course of history We're not going to change anything You know, it just it's tough It's tough to sit here and even talk about these topics because it's it's crazy You know, never in our lifetime did we think would be to talk about shit like this You know, I thought we'd always be talking about like small cabs and you know what that means for us, but Which I guess we can actually Transition into we should talk we should hit on that but um, let's do this picking up this Small cab market's been fucking awesome lately. I think I think that it shows that Confidence is back in the market a little bit, right? That's kind of goes into our thesis about the Overall market bottoming, you know, we've seen some nice volume and we've seen some nice fades Some nice trades on both sides of the aisle Yeah of the aisle. Yeah the uh freaking small cap congress Yeah, no, I think that it's definitely been picking up. I love it. Uh, great volume There's been a trade for either side on each day. You just have to be Very very picky with how you kind of go about things and you have to be uh, you know Very very very selective in what you're trading and you know, if you are a short trader And you're going after stocks making new highs in this market. You are going to get wrecked. I mean, we saw it Uh, we saw it on Friday. Um, and we're just gonna keep seeing it. I think but if you are kind of Shorting those kind of broken stocks, um, you are going to get Rewarded and as well if you're a long trader and you're saying hey man, uh How can I kind of go about? Uh, you know making some good money. It would be going after the stocks making new highs and not, uh Longing broken stocks, you know We've seen addition on that multi-day Oh, I think you know now it's it's kind of back to trading the hot chick which for the last like I want to say six months. We can talk about this Hot chicks have kind of sucked but now Shorts have gotten a little caught off guard. Um, and it's funny because a lot of my focus now is Stocks that aren't making new highs, right? Whereas before it's like they were so weak And any stock that didn't make a new high there was confidence that it wasn't going to crush you so Yeah, especially on the short side right now. You really need to focus on The stocks that aren't making new highs and make sure you're identifying like solid range Everybody's like oh, I lost on this stock. I'm like dude. You're shorting loads on a stock that's up 18% It just looks like it runs because it's running pre-market But you can't be chasing that shit, you know, shorts. It's getting they're getting killed, right? And right now longs are a little bit more forgiving. They can chase a little bit more Um, and and they've been okay. Yeah, and I think also as if you look at kind of overall market strength Like it's kind of nice. Like we have the the spy Starting to rebound a little bit. I'm not saying that you know, we're we're going back Up super quick We could be in a sideways channel for a little bit. I just think it's very nice seeing The overall markets are kind of starting to get a little stronger again We're starting to see some nicer days in the spy. It's kind of transitioning over to the small caps a little bit We're starting to see the hot chicks pick up We're starting to see the multi-day runners hang around where the last like three four months It was hard to find a good multi-day runner There would be new stocks every day now We're kind of seeing the same stocks kind of come over again Like see-do stuff like that. They're holding up. So that is good for the small cap market. Yeah, I'm happy I like it trade has been going well. So so anyway, I think we can probably start wrapping this up Yeah, uh last thing I wanted to do before we actually wrap it up I swear to some another podcast and I actually loved it. So I wanted to do favorites So give me something you're reading watching doing right now that is kind of like taking your attention Yeah, yeah. No, I completely agree. Yeah, let us know in the kind of comments below What you're watching, uh, any books for us that you think we should read James and I both like to read Any, you know Any podcasts that you think that we should watch that we could kind of do to make things better Or any articles as well link them down below like we're always down and open to discuss new topics. So I think with that we can Start to wrap it up James. If you have anything else to kind of mention No, I was just saying, what are you watching? Give me some of my watching. Yeah, I'm not really watching anything right now to be honest I'm rereading a couple books that I had read kind of before like market wizards and a couple like psychology books like that um, but I'm not really I'm not really kind of uh, I'm not as much as like a podcast listener as I should be, you know, I I'd like to read and I like to kind of You know, obviously if I'm on like tiktok, I'll like listen to podcast clips through there and stuff like that But I'm not like it's hard for me to sit down and listen to a whole podcast because I'm like Oh, I could be reading or I could be doing this or I could be doing this Maybe if I could combine the two Yeah, so I get stuck driving. So I wanted to put one recommendation out there Um podcasts on apple podcast. It's called uh, we study billionaires the investors podcast network I have been crushing this podcast It's fantastic. Absolutely great listen to especially anything macro Uh, they a lot of long-term investing as well and bitcoin too. So definitely give that a listen if you get the chance Yeah, awesome. All right. So I think we'll kind of wrap it up there Thanks james and uh, buddy. Yeah