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Speaker 1: If you've tell me that three long bonds will prevail

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Speaker 1: over the next thirty years, stocks are incredibly cheap. If

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Speaker 1: I if I had a choice today for a ten

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Speaker 1: year purchase of the tenure bond at whatever it is,

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Speaker 1: or ten years or buying the SMP five for ten years,

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Speaker 1: I buy the SNP at A second interesting from one

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Speaker 1: of the world's greatest investors, Warren Buffett. We we have

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Speaker 1: talked a lot over the years how um financial reporting

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Speaker 1: might be the stupidest reporting that ever happens in the media. Yep,

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Speaker 1: the things that they report on. Anybody who needs to

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Speaker 1: know already knows and knows a lot more than that.

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Speaker 1: And if you don't, you don't need to know what

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Speaker 1: they just said, right. So I remember when we first started,

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Speaker 1: we first started, there was we did hourly or half

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Speaker 1: hourly market reports, and we told the boss we just

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Speaker 1: didn't think we needed to do that, and he said, well, look,

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Speaker 1: everybody's invested in the stock market now, which is true,

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Speaker 1: but almost nobody is trading on an hourly basis, and

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Speaker 1: I mean like close to zero. And again, as Joe said,

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Speaker 1: if you are the sort of person that's trading on

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Speaker 1: an hourly or even daily basis. Most people don't even

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Speaker 1: trade on a weekly basis. You're getting your information from

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Speaker 1: someplace other than hold on, quiet down, hone either about

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Speaker 1: to tell me on the radio what the stock markets

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Speaker 1: doing right exactly? In general? Yeah, uh well, this is

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Speaker 1: gonna be fun. I hope, I certainly expect it will be.

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Speaker 1: Jason Moser is a senior analyst for The Motley Fool.

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Speaker 1: Many of you are familiar with The Motley Fool through

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Speaker 1: the years. Absolutely terrific, regular person oriented look at stocks

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Speaker 1: and markets and and try to understand what's going on. Jason, welcome,

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Speaker 1: How are you, sir? Hey, I'm doing well. Guys. How

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Speaker 1: about you? Oh? Just just fine? Thank you. Can you

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Speaker 1: comment on what we just said? Yeah? Yeah, I mean

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Speaker 1: I think you you really put it in a nutshell.

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Speaker 1: There our biggest challenge here on an ongoing basis at

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Speaker 1: the Motley Fool, because I mean, I'd say we certainly

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Speaker 1: qualify as financial media, but we are very much you know,

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Speaker 1: we we certainly pushed back on that day to day,

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Speaker 1: hour to hour, minute a minute financial reporting as if

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Speaker 1: it is something that really matters. I just I find

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Speaker 1: it hilarious because you hear it reported and it's always

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Speaker 1: the tone of voice from the twenty five year old

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Speaker 1: news report over and the stock markets down fifteen at

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Speaker 1: the hour? Well, who is the four? Well it's for them, really.

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Speaker 1: I think it's for them in their business models because essentially,

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Speaker 1: those those reporters, those media companies are very much supported

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Speaker 1: by advertising dollars, and so they're doing whatever they can

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Speaker 1: to make it sound as sensational as possible because they

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Speaker 1: need to keep eyes glued to the TV so they

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Speaker 1: can have advertising partners. Right, So you can see the

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Speaker 1: problem there. Yeah, My favorite example is when the news

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Speaker 1: at reporter or the little anchor at or the the

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Speaker 1: square John anchor reports said, and the Dow Jones when

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Speaker 1: that's the wrong one to follow anyway, But the SMP

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Speaker 1: down four day points, and then if you actually follow

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Speaker 1: the market, you realize it was down like four hundred

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Speaker 1: and rallied and and it was just down four points,

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Speaker 1: which indicates something wildly different than just down four points. Yeah,

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Speaker 1: And I mean that's the thing is you can witness

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Speaker 1: tremendous volatility day to day, but really, you know, what

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Speaker 1: we what we teach, what we preach share at the

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Speaker 1: Modley fool is taking that longer term view, and I

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Speaker 1: mean I'm not talking about longer term in the sense

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Speaker 1: of a quarter or even a year. I mean we're

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Speaker 1: we're business focused investors in the businesses that we invest in,

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Speaker 1: the ones that we recommend to our members and our

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Speaker 1: subscribers here, those are businesses that we we want to

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Speaker 1: be able to own for three years, five years, even

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Speaker 1: indefinitely if possible. So you know, you played a really

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Speaker 1: good clip there at the beginning of the segment here

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Speaker 1: with Warren Buffett and and he certainly is one of

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Speaker 1: our uh north stars if you will here. I mean

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Speaker 1: we looked at him in that philosophy and a lot

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Speaker 1: of what we do because the math bears it out,

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Speaker 1: the facts bear it out over time, long term by

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Speaker 1: two hold, investing does work. It's just you have to

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Speaker 1: be patient. And most people don't want to be patient.

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Speaker 1: They want to get rich quick, and unfortunately that's just

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Speaker 1: not how it works. It's a good way to get

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Speaker 1: poor quick. Oh and on that topic, are our producer

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Speaker 1: and friend positive Sean is desperate to ask you for

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Speaker 1: a stock tip beforeward done, We'll let you ask one question.

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Speaker 1: John settled down. I'm gonna give you, guys more than

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Speaker 1: one fantastic. I'm gonna get rich today. Jason Moser, senior

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Speaker 1: analyst for the Motley Fool, is on the line. So, Jason,

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Speaker 1: you mentioned the volatility of the markets, and it is

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Speaker 1: rather disturbing these days. It's super volatile volatility. What's going on? Well,

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Speaker 1: I mean, you know, we live in an era now

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Speaker 1: where information travels at the speed of light, and I

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Speaker 1: mean twenty years ago, it just wasn't that way. I

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Speaker 1: mean when we were all growing up, I mean, really,

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Speaker 1: the newspaper was where people got their stock quotes. They

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Speaker 1: got them once a day, at the end of the

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Speaker 1: day when they got home from work, or in the

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Speaker 1: morning the next day. Uh So it just inherently bad.

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Speaker 1: Less volatility, there was less action, less volume. But whereas today,

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Speaker 1: I mean social media, Twitter for example, I mean, things

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Speaker 1: move at the speed of light. And this information certainly

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Speaker 1: plays into how uh some with a trading mentality you're

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Speaker 1: going to try to invest in. So you have you

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Speaker 1: have a mentality out there where where people believe that

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Speaker 1: they can day trade and make a living doing it.

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Speaker 1: Uh you know, we we would certainly push back on

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Speaker 1: that just because number one, sustainably, it's very difficult to

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Speaker 1: make those types of calls on a day to day

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Speaker 1: and hour to our basis, uh, but but to also

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Speaker 1: the frictional costs involved, and really it's the tax situation, right,

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Speaker 1: short term capital gains taxes are just brutal, so it's

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Speaker 1: really difficult to make money in that result. But we

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Speaker 1: think the volatility typically comes from just this information that

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Speaker 1: flows so quickly. And certainly, Washington, d c. Is is

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Speaker 1: a place today where things aren't really terribly certain, right.

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Speaker 1: I mean, it seems like every day it's a new

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Speaker 1: crisis in some way, shape or form. And as you

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Speaker 1: have that uncertainty, and that uncertainty travels at the speed

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Speaker 1: of light, it breeds volatile. But the good thing for investors,

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Speaker 1: we think that it's an opportunity to take advantage of

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Speaker 1: some of that volatility. If we find the businesses that

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Speaker 1: we love at prices that we really like, then it's

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Speaker 1: a good opportunity to buy shares of those businesses with

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Speaker 1: the intention of holding onto them for a while. That's

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Speaker 1: how you that's how you separate yourself from the market

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Speaker 1: and beat the market over long period of time. You know,

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Speaker 1: I know Jack has a question, but I have to

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Speaker 1: observe that a lot of the super overheated reporting that

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Speaker 1: the media does what you're talking about, making, you know,

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Speaker 1: the volatility situation worse or better, depending on your point

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Speaker 1: of view. It's just it's a desperational hold on to

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Speaker 1: eyes and ears, so they make every bump in the

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Speaker 1: road seemed like some sort of horrifying crisis and the

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Speaker 1: market goes down and bounces up again everything, especially if

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Speaker 1: you can blame a particular politician for it going down? Right? Um, absolutely,

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Speaker 1: How often should just an average person check their portfolio

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Speaker 1: which seems like a fancy word to me, just my

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Speaker 1: my four oh one K or whatever. How often should

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Speaker 1: I even check it? Well, that's a great question because

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Speaker 1: I think most people in this country today, We think

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Speaker 1: most people when it comes to investing, probably the best

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Speaker 1: vessel for them would be a four oh one K

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Speaker 1: or some type of retirement account. And the idea is

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Speaker 1: that you're kind of setting it and forgetting it. You know,

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Speaker 1: you just have a portion of your paycheck that goes

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Speaker 1: into that four oh one care that retirement account every

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Speaker 1: pay period, and it's something that takes advantage of conditions

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Speaker 1: and markets up when the markets down. It's called dollar

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Speaker 1: cost averaging over time Sean says he's checked seven times

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Speaker 1: during this interview. Is that too often? Seven times too

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Speaker 1: many times? I think it's reasonable to say, hey, check

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Speaker 1: on it, maybe twice a year, maybe four times a year,

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Speaker 1: under twice a year, understand where you stand? Yeah, Well,

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Speaker 1: I mean there's no reason. The more you check it,

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Speaker 1: the more the more you're apt to do something. And

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Speaker 1: really typically the best action is in action. So I

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Speaker 1: recommend for people to not really get in there and talking.

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Speaker 1: Now you're in my wheelhouse generally speaking. Understand generally speaking,

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Speaker 1: where your money is what you own that doesn't require

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Speaker 1: more than four times a year check. I remember run

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Speaker 1: up to two thousand and eight, when I knew so

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Speaker 1: many people that considered themselves financial geniuses. Everything you did

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Speaker 1: turned into you know, buying houses. However, Yeah, and everybody

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Speaker 1: was checking it practically daily, and I knew more than

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Speaker 1: one person who had like a picture in their cubicle

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Speaker 1: of their retirement home they were going to their soon

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Speaker 1: to retire to. But anyway, when at all crash and

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Speaker 1: I want to let everybody stopped checking all the time.

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Speaker 1: It wasn't near a fun right, But we don't need

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Speaker 1: to check that off. That's good to hear. Yeah. Jason

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Speaker 1: Moser is a senior analyst for The Motley Fool. I

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Speaker 1: myself gamble heavily on horse races with bitcoin, but Jason

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Speaker 1: is pitching the whole buy and sell. Hey, go ahead,

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Speaker 1: Positive Sean, you got a question for the fabulous Jason Moser. Yeah.

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Speaker 1: So one of the more significant whole things in the

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Speaker 1: PSP that's the Positive Sean portfolio is Activision Blizzard. But

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Speaker 1: they have not done too well since I first acquired

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Speaker 1: them late September, down about thirty plus percent. Uh and uh,

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Speaker 1: And I'm curious. One of the things that I do

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Speaker 1: like about them is there they have a good stable

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Speaker 1: of intellectual property going forward, which I think plays well

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Speaker 1: into how media is going. But do you like them

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Speaker 1: as a should I? Should I take my losses reinvest

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Speaker 1: that into other better performing things in the PSP? Or

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Speaker 1: do I take the typical Motley full just hold and

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Speaker 1: write it out approach. Well, you you're talking about a company.

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Speaker 1: They're an Activision Blizzard that has been a recommendation in

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Speaker 1: our services here at the Molly Pool for many many years.

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Speaker 1: What do they do? For those those who don't know?

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Speaker 1: What is that? Al pack of farms are Activision Blizzard

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Speaker 1: is a video game company. Is like, they're best known

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Speaker 1: for their two main franchises, Call of Duty and World

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Speaker 1: of Warcraft, and these are these are franchises that have

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Speaker 1: been tremendously well over over over long period of time.

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Speaker 1: And they also bought Candy Crushed a little while back.

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Speaker 1: If you guys remember that mobile game that took the

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Speaker 1: world by story, um, Katy Crush was was one that

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Speaker 1: they bought, um, I think with Keen Digital Media. But

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Speaker 1: but Activision Blizzard is a company that's done very well

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Speaker 1: for a long periode time. And one of the main

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Speaker 1: reasons they have done so well is because it's been

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Speaker 1: a big play here in the space. Really the market

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Speaker 1: leader in the space, the company with the most money

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Speaker 1: able to hire the most talent, open the most studios

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Speaker 1: to to really you know, publish more video games. What

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Speaker 1: we're seeing today is things like Fortnite in in whatever

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Speaker 1: else that comes out that captures uh, you know, the country,

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Speaker 1: the world's imagination, their Pokemon bill or whatever it is.

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Speaker 1: That's certainly pushing back on that Activision Blizzard model a

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Speaker 1: little bit. But you mentioned that you you bought it

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Speaker 1: in September, so it sounds like you've only owned the

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Speaker 1: stock for maybe four or five months. I think it's

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Speaker 1: the most Uh. What I would recommend is to hang

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Speaker 1: onto those shares. I mean, it's a business that right

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Speaker 1: now is caught in a little bit of a a

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Speaker 1: little bit of a vortex, so to speak, with the

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Speaker 1: video game industry as we're seeing e A Sports take

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Speaker 1: to Activision, Blizzard, all companies that are seeing a little

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Speaker 1: bit of a challenge from those other games like Fortnite

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Speaker 1: and whatnot. But yet, remember these video game companies are

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Speaker 1: really entertainment companies. At the end of the day, they're

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Speaker 1: competing for people's eyeballs. But there is a tremendous populations

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Speaker 1: gamers out there. I think Active and Blizzard is gonna

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Speaker 1: have many better days ahead. I'd hang onto those shows.

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Speaker 1: I think that answers that did Michael I have a question?

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Speaker 1: Is that what you said? Anton? You know, well, I

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Speaker 1: was just gonna ask any chance that hears makes it

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Speaker 1: come back. Let's hope not. Let's hope Jason keep trying

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Speaker 1: to end. It's over so many people that are connected

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Speaker 1: with us, but it's just got to end at some point, right,

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Speaker 1: does the world really needs at this point? I think

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Speaker 1: we can answer that with a resounding no. It's just nostalgia,

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Speaker 1: and nostalgia used to be so much better than it

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Speaker 1: is these days. It's unfortunate, but technology has changed so

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Speaker 1: many things. Jason Moser, Senior analyst for the Motley Fuel Jason,

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Speaker 1: I'm a married man. I'm not coming on you. You're

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Speaker 1: delightful to talk to. Really enjoyed the chat. I hope

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Speaker 1: we can do it again soon. Look forward to it.

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Speaker 1: Thanks guys, Thanks Jason. I liked that a lot. I

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Speaker 1: think we should do that semi regularly. He'll never come

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Speaker 1: on again. Maybe branch out alone. I could hear it

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Speaker 1: as I want to ask him about that whole if

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Speaker 1: I wanted to get into more active trading decided, you know,

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Speaker 1: I'm gonna get into that. I'm gonna do a little

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Speaker 1: more work. How many hours should I dedicate to that?

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Speaker 1: And it doesn't even make sense with smaller amounts of

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Speaker 1: money in a world where you've got computers trading gazillions

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Speaker 1: of shares per second, I'd be interested in what he

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Speaker 1: has to say. Yeah, I would too. I can give

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Speaker 1: you a pretty good answer for that that I have

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Speaker 1: a high degree of confidence in the second one. First,

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Speaker 1: I wouldn't worry about the super computer trading thing is

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Speaker 1: much because you can recognize those patterns, and if you

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Speaker 1: see a good company that's going to be profitable in

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Speaker 1: the future, that's still a good stock. There will be

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Speaker 1: more volatility between now. I'm not going to do what

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Speaker 1: I just ask anyway, So I don't know why I

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Speaker 1: would ask. There's no chance I'm going to do it.

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Speaker 1: I'm just too lazy. Well, you're kind of describing what

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Speaker 1: I'm doing. I just think there's a lot of people

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Speaker 1: probably are I'm not going. I'm going. I wouldn't worry

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Speaker 1: about the computer trading thing. It just makes things more

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Speaker 1: volable right now during the time you're going to hold

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Speaker 1: a stock, but eventually what's going to happen will happen.

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Speaker 1: The first question, though, I answer from personal experience because

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Speaker 1: I used to buy and sell individual stocks fairly frequently,

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Speaker 1: and it just became very clear to me, unless you

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Speaker 1: are invested in it, probably poor choice. Awards on a

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Speaker 1: every single day, a lot of the day, you're going

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Speaker 1: to miss all the ups and downs. By the time

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Speaker 1: I get off the air. The rumor that you know,

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Speaker 1: the Shawn's Little company there has got a super blockbuster

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Speaker 1: in the reviews are just orgasmic. I'll be three hours

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Speaker 1: late on that story in the stock will have shot

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Speaker 1: up thirt So what am I bothering for? I like,

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Speaker 1: I'm telling you the whole don't worry about it. Just

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Speaker 1: let it go. And he's I mean, he's he's in

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Speaker 1: my brain right there. That's perfect for me, A good

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Speaker 1: twice year. I'll check it. The best action is in action. Yeah, yeah,

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Speaker 1: what you don't what? You might as well just name

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Speaker 1: that the jack plan? Right? Why are you not the

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Speaker 1: guest and he's interviewing you? An expert wants to getting

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Speaker 1: the Jack plans? Like a good idea. A good friend

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Speaker 1: of mine is a day trader and rather a successful one, um,

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Speaker 1: and he's smarter than most of us combined, and extremely

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Speaker 1: up to date, like minute to minute. And he has

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Speaker 1: a very very very narrow focus of the stocks he

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Speaker 1: deals with. He has a very specific strategy. So the

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Speaker 1: idea that you're just going to range across the whole

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Speaker 1: of the stock market and pick winners and stuff as

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Speaker 1: you're working your day job, good luck, you might get lucky.

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Speaker 1: Like the idea of betting on horse races with bitcoin.

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Speaker 1: I think that's just so far, so good. You're listening

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Speaker 1: to the armstrong