1 00:00:05,730 --> 00:00:08,010 Sean Aylmer: Welcome to the Fear and Greed, business interview. I'm Sean 2 00:00:08,220 --> 00:00:11,248 Sean Aylmer: Aylmer. Who would've thought that in 2024 we'd be talking 3 00:00:11,250 --> 00:00:15,299 Sean Aylmer: about GameStop again, Reddit, memes stocks, all that sort of 4 00:00:15,299 --> 00:00:17,518 Sean Aylmer: stuff. There was a big story in 2021 when the 5 00:00:17,520 --> 00:00:20,790 Sean Aylmer: share price of GameStop, a struggling chain of video game shops 6 00:00:20,790 --> 00:00:23,130 Sean Aylmer: in the US suddenly shot up. In less than a 7 00:00:23,130 --> 00:00:26,639 Sean Aylmer: month it went from about $ 19 to almost 500 US 8 00:00:26,639 --> 00:00:29,910 Sean Aylmer: dollars, and suddenly everyone was talking about memes stocks, shares 9 00:00:29,910 --> 00:00:33,299 Sean Aylmer: driven higher by internet speculation. Now it's happening again with 10 00:00:33,299 --> 00:00:35,219 Sean Aylmer: the re- emergence of one of the main players in 11 00:00:35,219 --> 00:00:40,500 Sean Aylmer: this space, a memes stock trader known as, Roaring Kitty. There 12 00:00:40,500 --> 00:00:43,200 Sean Aylmer: you go. That's the nice version of his name. Today 13 00:00:43,200 --> 00:00:45,269 Sean Aylmer: I wanted to get a 101 on meme stocks, how 14 00:00:45,269 --> 00:00:48,150 Sean Aylmer: traders make money, why it's so risky, and why companies 15 00:00:48,150 --> 00:00:51,239 Sean Aylmer: like GameStop and AMC are back in the news. Of course, 16 00:00:51,240 --> 00:00:54,150 Sean Aylmer: this is general information only. You should certainly seek professional 17 00:00:54,150 --> 00:00:58,200 Sean Aylmer: advice before making investment decisions. Chris Brycki, is the Founder and Chief 18 00:00:58,200 --> 00:01:02,099 Sean Aylmer: Executive Officer of Online Investment Advisor, Stockspot. Chris, welcome back 19 00:01:02,099 --> 00:01:02,819 Sean Aylmer: to Fear and Greed. 20 00:01:03,179 --> 00:01:04,708 Chris Brycki: Hi, Sean. Thanks for having me back. 21 00:01:05,459 --> 00:01:08,399 Sean Aylmer: Let's start with the very basics. What is a meme 22 00:01:08,400 --> 00:01:11,219 Sean Aylmer: stock and how did it get its name or how did they 23 00:01:11,219 --> 00:01:11,849 Sean Aylmer: get their name? 24 00:01:12,330 --> 00:01:15,479 Chris Brycki: Well, meme stocks, Sean, came about back during lockdowns when 25 00:01:15,480 --> 00:01:17,340 Chris Brycki: people had a lot of time on their hands. Stock 26 00:01:17,340 --> 00:01:19,770 Chris Brycki: trading had become a hot thing to do in your 27 00:01:19,770 --> 00:01:21,840 Chris Brycki: spare time, and while you were working for a lot 28 00:01:21,840 --> 00:01:23,878 Chris Brycki: of people as well, people had a lot of spare 29 00:01:23,880 --> 00:01:26,190 Chris Brycki: cash because they weren't traveling, they weren't using that money 30 00:01:26,190 --> 00:01:30,569 Chris Brycki: for other things. And so thousands and thousands in Australia 31 00:01:30,569 --> 00:01:32,580 Chris Brycki: and millions of people in the US were setting up 32 00:01:32,580 --> 00:01:37,950 Chris Brycki: online stockbroking accounts to essentially speculate on stocks. And this 33 00:01:37,950 --> 00:01:40,469 Chris Brycki: isn't a new thing that's happened over the decades many 34 00:01:40,469 --> 00:01:43,020 Chris Brycki: times before. I think the difference this time was that 35 00:01:43,349 --> 00:01:47,940 Chris Brycki: big groups of people were aggregating behind very small illiquid 36 00:01:47,940 --> 00:01:51,630 Chris Brycki: businesses and pushing their share prices up astronomical amounts, and 37 00:01:51,630 --> 00:01:55,440 Chris Brycki: then ultimately they fell by big amounts as well. And 38 00:01:55,530 --> 00:01:58,710 Chris Brycki: the memes I think were just how these stories spread 39 00:01:58,710 --> 00:02:01,950 Chris Brycki: and how these stocks became popular. So people were posting 40 00:02:01,950 --> 00:02:05,760 Chris Brycki: memes on Reddit and other social media sites to basically 41 00:02:05,789 --> 00:02:08,340 Chris Brycki: promote these stocks that they were trying to pump up. 42 00:02:09,210 --> 00:02:12,389 Sean Aylmer: Was there anything... GameStop was one of them, AMC was another one 43 00:02:12,389 --> 00:02:14,910 Sean Aylmer: back in 2021. Was there any sort of rhythm or 44 00:02:14,910 --> 00:02:19,200 Sean Aylmer: method three years ago to the stocks that did run? 45 00:02:20,040 --> 00:02:24,750 Chris Brycki: Well, there was, so that internet personality you mentioned, Roaring 46 00:02:24,750 --> 00:02:27,840 Chris Brycki: Kitty, he actually was starting to promote these stocks back 47 00:02:27,840 --> 00:02:30,030 Chris Brycki: in 2019, and not a lot of people were taking 48 00:02:30,030 --> 00:02:34,020 Chris Brycki: notice. And his thesis was that although these businesses weren't 49 00:02:34,020 --> 00:02:37,380 Chris Brycki: performing well, in fact they're all struggling businesses. There were 50 00:02:37,380 --> 00:02:40,169 Chris Brycki: a few big hedge funds out there that actually were 51 00:02:40,169 --> 00:02:43,080 Chris Brycki: very, very short these businesses. So basically betting that their 52 00:02:43,080 --> 00:02:46,410 Chris Brycki: share prices would fall a long way or ultimately to 53 00:02:46,410 --> 00:02:51,210 Chris Brycki: zero. But being short, a lot of stock actually exposes 54 00:02:51,300 --> 00:02:53,339 Chris Brycki: anyone, including hedge funds, to a lot of risk if 55 00:02:53,340 --> 00:02:55,799 Chris Brycki: the share prices rise. So what he was trying to 56 00:02:55,799 --> 00:02:59,609 Chris Brycki: orchestrate was a lot of people squeezing these stocks up 57 00:02:59,879 --> 00:03:02,970 Chris Brycki: and basically forcing the hedge funds to buy back their 58 00:03:02,970 --> 00:03:06,660 Chris Brycki: shorts, ultimately causing the share prices to rise even further 59 00:03:06,810 --> 00:03:09,089 Chris Brycki: and allowing people to sell at a really high price. 60 00:03:09,090 --> 00:03:12,000 Chris Brycki: Now, when he first tried to do this in 2019, 61 00:03:12,179 --> 00:03:14,519 Chris Brycki: it didn't really get a lot of traction, but then 62 00:03:14,520 --> 00:03:19,051 Chris Brycki: for whatever reason, it really took off in January 2021. 63 00:03:19,050 --> 00:03:22,710 Sean Aylmer: Okay. So the reemergence of Roaring Kitty, his real name 64 00:03:22,710 --> 00:03:25,290 Sean Aylmer: is, Keith Gill. He has all sorts of pseudonyms, ones 65 00:03:25,290 --> 00:03:29,280 Sean Aylmer: on Reddit, which involved very nasty swear words, but quite 66 00:03:29,280 --> 00:03:32,280 Sean Aylmer: a character obviously. I think he appeared before Congress at 67 00:03:32,280 --> 00:03:35,699 Sean Aylmer: some point and he conceded he wasn't actually a cat. 68 00:03:36,300 --> 00:03:40,170 Sean Aylmer: The reemergence of Keith Gill, why is everyone so excited 69 00:03:40,230 --> 00:03:44,160 Sean Aylmer: about that, given all he has done thus far is 70 00:03:44,160 --> 00:03:48,270 Sean Aylmer: put up a kind of drawing of a person looking 71 00:03:48,270 --> 00:03:51,420 Sean Aylmer: like he's leaning forward gaming? Why are we so excited 72 00:03:51,420 --> 00:03:51,810 Sean Aylmer: by that? 73 00:03:52,619 --> 00:03:54,270 Chris Brycki: Well, first of all, he has become a bit of 74 00:03:54,270 --> 00:03:57,600 Chris Brycki: a phenomenon online in terms of internet personalities. He made 75 00:03:57,600 --> 00:04:00,000 Chris Brycki: a lot of money out of the initial meme stock 76 00:04:00,000 --> 00:04:02,910 Chris Brycki: boom. He had to testify, as you mentioned, to Congress, 77 00:04:02,910 --> 00:04:04,920 Chris Brycki: and now a movie's been made about him that I 78 00:04:04,920 --> 00:04:06,690 Chris Brycki: think came out in the last year as well. I 79 00:04:06,690 --> 00:04:09,750 Chris Brycki: haven't seen it yet, I'm very keen to, but he's 80 00:04:09,750 --> 00:04:12,570 Chris Brycki: got a huge following of millions of people. And his 81 00:04:12,570 --> 00:04:16,440 Chris Brycki: account basically went silent after the initial meme stock boom 82 00:04:16,440 --> 00:04:19,650 Chris Brycki: and bust back in 2021. So the fact that he 83 00:04:19,650 --> 00:04:23,639 Chris Brycki: has posted something I think has stoked people's curiosity. And 84 00:04:23,639 --> 00:04:26,368 Chris Brycki: maybe it's just aligned with a time where people have 85 00:04:26,370 --> 00:04:29,100 Chris Brycki: some spare time and some spare cash to trade again. 86 00:04:29,670 --> 00:04:31,500 Chris Brycki: I think from what I've seen over the decades, when 87 00:04:31,500 --> 00:04:34,800 Chris Brycki: there are these booms and busts, they almost happen a 88 00:04:34,800 --> 00:04:37,140 Chris Brycki: bit like an earthquake where you have the initial earthquake 89 00:04:37,140 --> 00:04:40,289 Chris Brycki: and then aftershocks that come at random points in time 90 00:04:40,290 --> 00:04:43,380 Chris Brycki: afterwards. And usually the aftershocks are smaller than the initial 91 00:04:43,380 --> 00:04:46,410 Chris Brycki: one, but they lead to the share prices popping up 92 00:04:46,410 --> 00:04:48,690 Chris Brycki: and then falling back again. And it feels like this 93 00:04:48,690 --> 00:04:50,219 Chris Brycki: is just one of those aftershocks. 94 00:04:50,700 --> 00:04:53,460 Sean Aylmer: So off- air you used the phrase, pump and dump. 95 00:04:53,790 --> 00:04:56,309 Sean Aylmer: And that has been something that if you don't know 96 00:04:56,309 --> 00:04:58,289 Sean Aylmer: what a pump and dump is, watch the Wolf of 97 00:04:58,290 --> 00:05:00,659 Sean Aylmer: Wall Street. That's one of the classic cases of a 98 00:05:00,660 --> 00:05:03,419 Sean Aylmer: pump and dump stock, Steve Madden, I think in that 99 00:05:03,420 --> 00:05:06,690 Sean Aylmer: instance. But this has sort of been going on in one 100 00:05:06,690 --> 00:05:09,090 Sean Aylmer: form or another for a long time, Chris. 101 00:05:09,900 --> 00:05:13,080 Chris Brycki: Well, it has. This isn't new, although the stocks are 102 00:05:13,080 --> 00:05:14,910 Chris Brycki: new and the way that it's being done on Reddit 103 00:05:15,120 --> 00:05:17,488 Chris Brycki: is a bit of a new phenomenon, and the fact 104 00:05:17,490 --> 00:05:20,339 Chris Brycki: that such large groups of people can get behind it. 105 00:05:21,029 --> 00:05:24,719 Chris Brycki: In the US stock trading apps like Robinhood, the idea 106 00:05:24,719 --> 00:05:28,050 Chris Brycki: of stocks getting pumped up on not a lot of 107 00:05:28,050 --> 00:05:32,580 Chris Brycki: fundamental reasons has existed for generations. One of the most 108 00:05:32,580 --> 00:05:35,609 Chris Brycki: famous examples in Australia, and listeners could research this one 109 00:05:35,610 --> 00:05:39,150 Chris Brycki: online, that weren't around then was the Poseidon Nickel boom 110 00:05:39,509 --> 00:05:45,060 Chris Brycki: of 1969 and 1970. Where a little mining company made a small 111 00:05:45,300 --> 00:05:48,600 Chris Brycki: nickel discovery and at share price went from about 80 112 00:05:48,600 --> 00:05:51,719 Chris Brycki: cents to $ 280 and then fell all the way back 113 00:05:51,719 --> 00:05:55,229 Chris Brycki: down. Again, it comes down to large groups of people 114 00:05:55,230 --> 00:05:58,800 Chris Brycki: getting excited and feeling that fear of missing out. And 115 00:05:58,980 --> 00:06:00,480 Chris Brycki: I'm not sure who's quoted it, I think it's a 116 00:06:00,480 --> 00:06:03,360 Chris Brycki: Buffett quote, but certainly a famous investors said before that, " 117 00:06:03,510 --> 00:06:05,969 Chris Brycki: There's nothing more painful than your friends and other people 118 00:06:05,970 --> 00:06:08,428 Chris Brycki: you know making money in the share market when you 119 00:06:08,428 --> 00:06:10,500 Chris Brycki: are missing out." And I think meme stocks have really 120 00:06:10,500 --> 00:06:13,319 Chris Brycki: stoked that fear of missing out in people, they want 121 00:06:13,320 --> 00:06:14,549 Chris Brycki: to be part of it. They want to be able 122 00:06:14,549 --> 00:06:17,339 Chris Brycki: to tell their friends at the barbecue that they're involved 123 00:06:17,339 --> 00:06:21,150 Chris Brycki: as well. Unfortunately, what usually happens is that there's a 124 00:06:21,150 --> 00:06:23,010 Chris Brycki: small group of people that make money out of these 125 00:06:23,010 --> 00:06:26,160 Chris Brycki: things and a much larger group of people that lose 126 00:06:26,160 --> 00:06:28,139 Chris Brycki: money out of these things. And if you have a 127 00:06:28,139 --> 00:06:30,959 Chris Brycki: look at the research and stats about trading generally, you 128 00:06:30,960 --> 00:06:33,540 Chris Brycki: see this that only about 1% of people who are 129 00:06:33,928 --> 00:06:37,020 Chris Brycki: day trading or trying to trade stocks actually make long- 130 00:06:37,020 --> 00:06:39,990 Chris Brycki: term returns consistently or actually do well out of this, 131 00:06:40,440 --> 00:06:43,080 Chris Brycki: 99% of people do poorly. And on the other hand, 132 00:06:43,080 --> 00:06:45,690 Chris Brycki: if you just set and forget in index funds, which we've 133 00:06:45,690 --> 00:06:48,599 Chris Brycki: discussed before is our strategy, you've got a much better 134 00:06:48,599 --> 00:06:50,789 Chris Brycki: hit rate of actually making money over the long run. 135 00:06:50,790 --> 00:06:51,870 Chris Brycki: It's just very boring. 136 00:06:52,469 --> 00:06:54,209 Sean Aylmer: Stay with me. Chris, we'll be back in a minute. 137 00:07:01,800 --> 00:07:04,859 Sean Aylmer: I'm speaking to Chris Brycki, Founder and CEO of Online 138 00:07:04,860 --> 00:07:10,110 Sean Aylmer: Investment Advisor, Stockspot. What about the companies involved? So GameStop, 139 00:07:10,199 --> 00:07:14,220 Sean Aylmer: AMC is another one. What's it mean for them? Because 140 00:07:14,220 --> 00:07:17,460 Sean Aylmer: they're not being traded on their fundamentals here, they're actually 141 00:07:17,460 --> 00:07:20,280 Sean Aylmer: being traded on momentum or something, what's it mean for 142 00:07:20,280 --> 00:07:21,060 Sean Aylmer: those companies? 143 00:07:21,690 --> 00:07:25,109 Chris Brycki: Well, they're the real beneficiaries. They've really struck out with 144 00:07:25,110 --> 00:07:29,190 Chris Brycki: some luck these businesses because they're struggling traditional businesses, old 145 00:07:29,190 --> 00:07:34,320 Chris Brycki: cinema businesses and traditional retail businesses selling video games. There's 146 00:07:34,320 --> 00:07:36,930 Chris Brycki: obviously a bit of nostalgia to these businesses, which is 147 00:07:36,930 --> 00:07:39,450 Chris Brycki: part of, I think, the reason people have got behind 148 00:07:39,450 --> 00:07:42,570 Chris Brycki: them. But they're not generating any earnings growth. They're not 149 00:07:42,690 --> 00:07:46,889 Chris Brycki: generating growth in dividends. They're certainly not strongly performing businesses. 150 00:07:46,889 --> 00:07:49,170 Chris Brycki: So when these pump and dumps have happened in the 151 00:07:49,170 --> 00:07:52,619 Chris Brycki: past, and again, this happened yesterday with AMC, it's a 152 00:07:52,620 --> 00:07:55,380 Chris Brycki: great opportunity for them to raise capital because they know 153 00:07:55,380 --> 00:07:57,210 Chris Brycki: that their business is worth a lot less than the 154 00:07:57,210 --> 00:08:00,270 Chris Brycki: share price is indicating. And if you're a business, the 155 00:08:00,270 --> 00:08:03,330 Chris Brycki: best capital management you can do is actually raise money 156 00:08:03,330 --> 00:08:05,430 Chris Brycki: when your share price is higher than your fair value. 157 00:08:07,170 --> 00:08:11,940 Sean Aylmer: You mentioned Poseidon Nickel then, 2021 was mostly about US 158 00:08:11,940 --> 00:08:14,340 Sean Aylmer: stocks. Does it mean, in more recent years, has it 159 00:08:14,340 --> 00:08:16,050 Sean Aylmer: happened elsewhere outside the US? 160 00:08:16,889 --> 00:08:19,169 Chris Brycki: Yeah, booms and busts have happened all over the place, 161 00:08:19,860 --> 00:08:22,259 Chris Brycki: and not just in the recent decades, but back to 162 00:08:22,260 --> 00:08:27,900 Chris Brycki: the 1600s and 1700. The Tulip boom was another famous one. 163 00:08:28,350 --> 00:08:32,340 Chris Brycki: The Japan boom in the late 1980s was another one. 164 00:08:34,170 --> 00:08:37,078 Chris Brycki: I think there's a human aspect of human psyche that 165 00:08:37,080 --> 00:08:40,410 Chris Brycki: just gets excited about things going up and chasing momentum, 166 00:08:40,650 --> 00:08:42,569 Chris Brycki: and it's very hard to predict when these things are 167 00:08:42,570 --> 00:08:44,370 Chris Brycki: going to pop up, how long they're going to last, 168 00:08:44,520 --> 00:08:46,439 Chris Brycki: and that's why it's very hard to make money out 169 00:08:46,440 --> 00:08:48,958 Chris Brycki: of them. But they do happen, and I think it's 170 00:08:48,960 --> 00:08:51,600 Chris Brycki: inevitable that they continue to happen. I don't think there's 171 00:08:51,719 --> 00:08:55,860 Chris Brycki: very much way that governments or regulators can regulate them 172 00:08:55,860 --> 00:08:59,760 Chris Brycki: out because it's just human psyche of greed and fear. 173 00:09:01,080 --> 00:09:03,900 Sean Aylmer: At the end of the day, Roaring Kitty, isn't doing 174 00:09:03,900 --> 00:09:06,809 Sean Aylmer: anything wrong, or is he? I'm not sure. Maybe if 175 00:09:06,809 --> 00:09:10,169 Sean Aylmer: he's pushing a stock without a license, he's doing something wrong. 176 00:09:11,040 --> 00:09:14,429 Chris Brycki: Yes. It's a good ethical question. And I think ASIC 177 00:09:14,429 --> 00:09:18,990 Chris Brycki: in Australia has actually gone after a few stockbrokers who 178 00:09:18,990 --> 00:09:21,600 Chris Brycki: run licensed on the basis that they don't actually have 179 00:09:21,600 --> 00:09:24,420 Chris Brycki: a license to provide what's deemed to be financial advice. 180 00:09:24,690 --> 00:09:27,630 Chris Brycki: So I think that's one area that anyone considering this 181 00:09:27,630 --> 00:09:30,360 Chris Brycki: in Australia needs to be very, very careful of. It's 182 00:09:30,870 --> 00:09:34,559 Chris Brycki: pumping stocks and online stock groups, and I believe in 183 00:09:34,559 --> 00:09:36,840 Chris Brycki: Australia there was some on Discord and some of these 184 00:09:36,840 --> 00:09:40,470 Chris Brycki: other apps that are sort of secret apps. They've been caught 185 00:09:40,470 --> 00:09:42,929 Chris Brycki: out and got in a lot of trouble for, and 186 00:09:42,929 --> 00:09:45,510 Chris Brycki: people have been banned from doing this sort of thing. 187 00:09:46,110 --> 00:09:49,020 Chris Brycki: And there's obviously ethical questions about it as well, because 188 00:09:49,679 --> 00:09:52,649 Chris Brycki: you're really moving something in a way that's going to 189 00:09:52,650 --> 00:09:54,900 Chris Brycki: definitely cause harm to a large group of people, and 190 00:09:54,900 --> 00:09:56,790 Chris Brycki: you're just trying to get out early enough to not 191 00:09:56,790 --> 00:10:00,270 Chris Brycki: lose money. I don't particularly think it's an ethical way 192 00:10:00,270 --> 00:10:04,019 Chris Brycki: of making money, but it certainly creates a lot of 193 00:10:04,020 --> 00:10:07,230 Chris Brycki: stories and headlines and is a very interesting thing for 194 00:10:07,230 --> 00:10:09,958 Chris Brycki: people to follow. And I think the one positive, I 195 00:10:09,960 --> 00:10:12,059 Chris Brycki: think out of it in 2021 is it introduced a 196 00:10:12,059 --> 00:10:14,699 Chris Brycki: whole new generation of people to the share market. And 197 00:10:14,700 --> 00:10:16,290 Chris Brycki: I think if you are going to be investing in 198 00:10:16,290 --> 00:10:18,838 Chris Brycki: the share market and learn your hard lessons, you want 199 00:10:18,840 --> 00:10:21,210 Chris Brycki: to learn those very early. So I was hopeful in 200 00:10:21,210 --> 00:10:24,570 Chris Brycki: 2021 that those people who did ultimately lose money in 201 00:10:24,570 --> 00:10:28,049 Chris Brycki: these meme stocks learnt the lesson that actually share trading 202 00:10:28,049 --> 00:10:29,879 Chris Brycki: is not a great way of building wealth, but the 203 00:10:29,879 --> 00:10:31,950 Chris Brycki: share market is a great way of building wealth, just 204 00:10:31,950 --> 00:10:32,700 Chris Brycki: not in that way. 205 00:10:33,179 --> 00:10:35,429 Sean Aylmer: Okay. You've more or less given us the moral of 206 00:10:35,429 --> 00:10:38,910 Sean Aylmer: the story there in terms of stocks. But you don't 207 00:10:38,910 --> 00:10:42,299 Sean Aylmer: chase meme stocks, you are much more a longer term 208 00:10:42,300 --> 00:10:43,679 Sean Aylmer: holder of stocks, is that right? 209 00:10:44,429 --> 00:10:47,098 Chris Brycki: That's right. We invest in ETFs which invest in the 210 00:10:47,100 --> 00:10:50,069 Chris Brycki: market index. Now, occasionally there'll be a meme stock within 211 00:10:50,070 --> 00:10:52,410 Chris Brycki: the index, but it'll be such a small part of 212 00:10:52,410 --> 00:10:56,340 Chris Brycki: the index it won't really have a noticeable impact. It's 213 00:10:56,700 --> 00:11:00,690 Chris Brycki: not something we would chase or recommend clients chase just 214 00:11:00,690 --> 00:11:03,330 Chris Brycki: because there's no proven strategy of how to make money 215 00:11:03,330 --> 00:11:05,220 Chris Brycki: out of these things. You can get very lucky like 216 00:11:05,429 --> 00:11:08,340 Chris Brycki: Roaring Kitty, did and make millions of dollars, but just 217 00:11:08,340 --> 00:11:10,350 Chris Brycki: like the lottery, for every person that makes a million 218 00:11:10,350 --> 00:11:13,228 Chris Brycki: dollars, there's tens of thousands that have lost a smaller 219 00:11:13,230 --> 00:11:15,990 Chris Brycki: amount as well. So it's really just transferring money from 220 00:11:16,110 --> 00:11:17,130 Chris Brycki: one group to another. 221 00:11:17,730 --> 00:11:19,348 Sean Aylmer: Chris, thank you for talking to Fear and Greed. 222 00:11:19,710 --> 00:11:20,190 Chris Brycki: My pleasure. 223 00:11:20,910 --> 00:11:23,549 Sean Aylmer: That was, Chris Brycki, Founder and CEO of Online Investment 224 00:11:23,549 --> 00:11:26,400 Sean Aylmer: Advisor, Stockspot. This is the Fear and Greed, business interview. 225 00:11:26,400 --> 00:11:29,250 Sean Aylmer: Remember, this is general information only and you should seek 226 00:11:29,250 --> 00:11:32,400 Sean Aylmer: professional advice before making investment decisions. Join us every morning 227 00:11:32,400 --> 00:11:34,860 Sean Aylmer: for the full episode of Fear and Greed. Daily business 228 00:11:34,860 --> 00:11:37,410 Sean Aylmer: news for people who make their own decisions. I'm Sean Aylmer. 229 00:11:38,040 --> 00:11:38,640 Sean Aylmer: Enjoy your day.