WEBVTT - Study Hall: IS IT TIME TO SELL STOCKS, WILL CHINA COLLAPSE, BITCOIN & ETHEREUM 0:00:00.400 --> 0:00:04.280 You just realized your business needed to hire someone yesterday. 0:00:04.800 --> 0:00:09.520 How can you find amazing candidates fast? Easy? Just use Indeed. 0:00:09.960 --> 0:00:12.680 Stop struggling to get your job posts seen on other 0:00:12.760 --> 0:00:16.439 job sites. With Indeed sponsored jobs, your post jumps to 0:00:16.480 --> 0:00:19.000 the top of the page for your relevant candidates, so 0:00:19.120 --> 0:00:22.119 you can reach the people you want faster. According to 0:00:22.160 --> 0:00:26.120 Indeed data, sponsored jobs posted directly on Indeed have forty 0:00:26.120 --> 0:00:30.040 five percent more applications than non sponsored jobs. Don't wait 0:00:30.080 --> 0:00:33.519 any longer. Speed up your hiring right now with Indeed, 0:00:33.960 --> 0:00:36.200 and listeners of this show will get a seventy five 0:00:36.280 --> 0:00:39.440 dollars sponsored job credit to get your jobs more visibility 0:00:39.600 --> 0:00:45.320 at indeed dot com slash pod Katz thirteen. Just go 0:00:45.360 --> 0:00:50.120 to Indeed dot com slash pod Katz thirteen right now 0:00:50.479 --> 0:00:53.040 and support our show by saying you heard about Indeed 0:00:53.080 --> 0:00:57.400 on this podcast. Terms and conditions apply. Hiring Indeed is 0:00:57.440 --> 0:00:58.240 all you need. 0:00:58.800 --> 0:01:00.640 Soower take it before we begin. 0:01:01.640 --> 0:01:05.000 China's gonna collapse soon next year, They're gonna go through 0:01:05.000 --> 0:01:09.360 a big recession. Get careful so we'll be careful. So 0:01:09.440 --> 0:01:10.839 for those of you about to tune out, you're about 0:01:10.840 --> 0:01:12.840 to go cook and take care of your kids. 0:01:13.160 --> 0:01:14.920 Keep your eye on China. Things are gonna get really 0:01:14.959 --> 0:01:15.760 tough next year. 0:01:17.160 --> 0:01:17.479 Ahead. 0:01:18.200 --> 0:01:20.160 China will collapse. That all right, let's get back to 0:01:20.160 --> 0:01:20.680 that later on. 0:01:22.240 --> 0:01:25.800 They always say it's not true. I know it's gonna 0:01:25.800 --> 0:01:29.560 be a think piece tomorrow. Ian's wronk again. Okay, give 0:01:29.600 --> 0:01:33.600 it a few months. Michael Saylor Bigcoin twenty thousand said 0:01:33.600 --> 0:01:36.680 that was crazy, said Michael Saylor wouldn't leave. And here 0:01:36.720 --> 0:01:37.120 we are. 0:01:38.440 --> 0:01:39.640 So let's get right into this. 0:01:40.840 --> 0:01:44.320 Bigcoin hit twenty four thousand, the highest price has been 0:01:44.319 --> 0:01:46.960 in two months. What price will it hit by the 0:01:47.040 --> 0:01:47.560 end of the year. 0:01:49.000 --> 0:01:51.040 I think bigcoin will probably get up to like thirty 0:01:51.200 --> 0:01:54.840 four thousand and seven twenty. It's gonna be a slow 0:01:54.880 --> 0:01:58.480 push up. The world is like really just when we 0:01:58.520 --> 0:02:03.800 talk about Michael Burry later, but the hedge funds, macro investors, 0:02:03.840 --> 0:02:08.000 institutional investors are just really resetting the prices that should 0:02:08.000 --> 0:02:11.200 be they should be brought in at we are. We 0:02:11.280 --> 0:02:13.280 kind of did like a dead cat bounce and we're 0:02:13.320 --> 0:02:15.760 like in the middle range. This isn't the best time 0:02:15.800 --> 0:02:18.480 to buy. We're probably hit thirty four thousand some change, 0:02:18.560 --> 0:02:21.200 maybe get up to thirty five thousand and slide back down. 0:02:21.720 --> 0:02:25.280 But we should end up positive. We'll have some positive 0:02:25.280 --> 0:02:27.320 growth and bitcoin for the year. S and P is 0:02:27.360 --> 0:02:29.720 pushing up. Everyone put in chat, what's the number I 0:02:29.720 --> 0:02:31.120 said we should hit for S and P by end 0:02:31.120 --> 0:02:33.919 of the year. We're getting close there, and I think 0:02:33.960 --> 0:02:36.320 by twenty twenty four like bitcoin and be back in 0:02:36.360 --> 0:02:41.360 at sixty seventy possibly eighty range. So we got the 0:02:41.360 --> 0:02:43.680 hold on tight, but it'll be worth for a few 0:02:43.760 --> 0:02:46.120 years for you to hold onto it. 0:02:47.120 --> 0:02:49.240 Okay, so we're telling the long term investor. 0:02:49.240 --> 0:02:50.840 Anything else you want to add to that, Yeah, I 0:02:50.840 --> 0:02:51.600 mean we could. 0:02:51.480 --> 0:02:53.680 Talk about bitcoin, but we should also pay attention to you. 0:02:53.680 --> 0:02:55.760 What ethereum is, don I'm going to go next? 0:02:56.840 --> 0:02:57.120 Bcoin? 0:02:57.600 --> 0:03:00.600 I mean, obviously we say this's all time, like I'm 0:03:00.600 --> 0:03:02.440 not trading it, so it's a long term investment. 0:03:02.440 --> 0:03:04.040 So the money goes in, it stays there. 0:03:04.440 --> 0:03:07.560 But it's interesting like some people who have been waiting hopefully, 0:03:07.840 --> 0:03:10.679 like you said, got into it when it got down 0:03:10.720 --> 0:03:14.000 to nineteen nine or nineteen seven, because even at twenty 0:03:14.000 --> 0:03:16.120 four you've made profit. If it gets up to thirty four, 0:03:16.160 --> 0:03:18.240 you made even more profit. And so we always try 0:03:18.280 --> 0:03:20.919 to figure out where's the bottom, where's the bottom when 0:03:20.960 --> 0:03:23.000 it pulls back sixty seventy percent. 0:03:23.160 --> 0:03:26.160 We've seen the volatility in it. If you've studied the 0:03:26.200 --> 0:03:26.639 history of. 0:03:26.600 --> 0:03:29.360 It, you know that, all right, anywhere between seventy to 0:03:29.560 --> 0:03:32.280 eighty three eighty five percent is a time that it 0:03:32.400 --> 0:03:35.200 usually hits its bottom. And so we got to that point. 0:03:35.560 --> 0:03:37.680 If your research said it, then you should have invested 0:03:37.680 --> 0:03:40.040 in it. But again, we keep it long term. I'm 0:03:40.080 --> 0:03:42.280 not training it. We say we're going to stay in 0:03:42.280 --> 0:03:42.720 the position. 0:03:43.320 --> 0:03:46.440 Yeah, I'll say, Bitcoin in ethere are the two that 0:03:46.480 --> 0:03:48.880 you should hold long term. Everything else you should trade. 0:03:48.920 --> 0:03:51.680 So so know some of you, like you hate every crypto. 0:03:51.720 --> 0:03:52.080 I don't. 0:03:52.200 --> 0:03:53.600 I just don't want you guys to lose a bunch 0:03:53.640 --> 0:03:57.240 of money. But she but those Luna, you know, all 0:03:57.280 --> 0:03:59.960 the ones that are not the top two swing trade though, 0:04:00.400 --> 0:04:03.360 and if you want to day trade them, they trade them. 0:04:03.480 --> 0:04:05.640 But Bitcoin and the theory you should hold. I'd like 0:04:05.680 --> 0:04:08.200 the return I think over the last ten years of bitcoin, 0:04:08.240 --> 0:04:10.240 if you held it, it's like two hundred and ten 0:04:10.280 --> 0:04:11.320 thousand percent return. 0:04:11.640 --> 0:04:12.840 Yeah, something ridiculous. 0:04:13.120 --> 0:04:16.560 You can't argue. Just hold. 0:04:17.720 --> 0:04:21.279 So all right, so let's talk about ethereum. The mighty 0:04:21.360 --> 0:04:26.720 mighty Ethereum is back. Has risen like the phoenix is 0:04:26.800 --> 0:04:30.719 up fifty I believe this month. Yeah, from the low 0:04:30.839 --> 0:04:36.720 ethereum two point zero on the way Ah ethereum, Yeah 0:04:36.920 --> 0:04:40.320 is ethereum good now? 0:04:42.400 --> 0:04:42.960 Good question. 0:04:43.520 --> 0:04:46.440 Yeah, so it has risen again. Another just the same 0:04:46.839 --> 0:04:49.800 story as bitpoint bitcoin. We saw the pull back to 0:04:49.839 --> 0:04:52.000 a sixteen hundred level. Obviously now it got up to 0:04:52.040 --> 0:04:54.120 two thousand and pulled back a little bit. But the 0:04:54.160 --> 0:04:58.880 news of that, the merge, that's happening, right, So I 0:04:58.920 --> 0:05:00.920 think they gave us a date over pat over the weekend, 0:05:01.160 --> 0:05:03.479 the saying Sep. Seven and fifteenth it's going to move 0:05:03.520 --> 0:05:05.720 from proof of work to proof of state, which means 0:05:05.960 --> 0:05:09.440 more less energy intensive as far as how they're going 0:05:09.480 --> 0:05:12.520 to produce less rewards being given in more of a 0:05:12.560 --> 0:05:16.200 proof of state situation, which is obviously going to make 0:05:16.200 --> 0:05:18.719 it a more efficient coin or a more efficient blockchain 0:05:19.600 --> 0:05:21.839 to build on. And so that is going to happen, 0:05:22.200 --> 0:05:23.880 they say in the fifteenth through the nineteenth. 0:05:23.960 --> 0:05:25.000 They've already tested. 0:05:25.040 --> 0:05:27.240 I think last week they had the third trial of 0:05:27.279 --> 0:05:30.880 the merger and it went successful, and so Italics came 0:05:30.880 --> 0:05:33.320 out I think probably over the weekend and said to 0:05:33.560 --> 0:05:35.000 those are going to be the dates to look out for. 0:05:35.160 --> 0:05:37.120 So it had a nice ride. Like you said, it's 0:05:37.160 --> 0:05:40.360 up fifty two percent from its lows. Ethereum is something 0:05:40.400 --> 0:05:43.080 that we spoke about, I mean over and over, and 0:05:43.080 --> 0:05:46.159 we talked about being the highway for all these blockchains, 0:05:46.520 --> 0:05:50.240 these coins to be built on, especially from a usage standpoint. 0:05:50.640 --> 0:05:55.560 So we're long, long, long, long long on Ethereum. 0:05:55.760 --> 0:05:56.000 Yeah. 0:05:58.880 --> 0:06:02.880 Yeah, I'm gonna say something that I normally don't say. 0:06:05.279 --> 0:06:08.880 I don't know, so I'll give you guys a target. 0:06:09.279 --> 0:06:14.800 So twenty nine four eighty is a price target that 0:06:14.839 --> 0:06:19.240 we could hit. I just haven't done all the week, 0:06:19.240 --> 0:06:20.560 and given the fact that I was sick, I haven't 0:06:20.760 --> 0:06:22.480 had a chance to go through like all the reading 0:06:22.560 --> 0:06:26.760 and research. I do think, well, if we'll look at 0:06:27.160 --> 0:06:30.640 once again Blackrock Vanguard, and I know people are like, hey, 0:06:30.680 --> 0:06:33.360 that doesn't matter. Last year was like they would never 0:06:33.400 --> 0:06:36.680 have influence, and now we see Blackrock and coinbase starts 0:06:36.680 --> 0:06:40.200 to have a partnership. You're going to see JP Morgan, 0:06:40.839 --> 0:06:44.400 Citadel and a few others have a bigger impact on 0:06:44.720 --> 0:06:48.679 the price movement of Etherea. Go check and see how 0:06:48.800 --> 0:06:51.240 big they're a buying. To give you an insight if 0:06:51.240 --> 0:06:52.800 it's going to do well. Like if the top five 0:06:52.880 --> 0:06:57.440 hittons are finding like crazy, then it'll be a okay. 0:06:57.480 --> 0:06:59.640 So I'm not playing both sides. I'm just giving a 0:06:59.680 --> 0:07:02.000 price of where it could go by end of year, 0:07:04.240 --> 0:07:05.720 and if you're holding it, you should be holding a 0:07:05.720 --> 0:07:08.480 four or five year period anyway, as with any long 0:07:08.560 --> 0:07:11.280 term investment, those are bitcoin in the theory I go 0:07:11.280 --> 0:07:12.880 on record, are only two. I think you should not 0:07:13.000 --> 0:07:15.120 be trading. You should be holding if you believe in it. 0:07:16.400 --> 0:07:19.840 Yeah, well, anybody that watches market one day's nose. I've 0:07:19.840 --> 0:07:22.280 been pretty consistent when it comes to Ethereum. I think 0:07:22.280 --> 0:07:26.200 it's the most important cryptocurrency. I think that it is. 0:07:26.240 --> 0:07:28.880 Why is that by chance to play God's advocate. 0:07:28.920 --> 0:07:29.760 God's advocate? 0:07:30.160 --> 0:07:34.240 Because because of its use right, like you know, things 0:07:34.280 --> 0:07:38.120 are built on the etherium, on the Ethereum blockchain. Bitcoin 0:07:38.240 --> 0:07:42.320 is the most popular one. But outside of it being 0:07:42.400 --> 0:07:45.280 traded and outside of it just being bitcoin, which is 0:07:45.280 --> 0:07:48.600 like the brand name for cryptocurrency has kind of become 0:07:48.680 --> 0:07:49.200 like band. 0:07:49.000 --> 0:07:51.920 Aid, that's it. 0:07:52.320 --> 0:07:56.120 Where Ethereum is a whole ecosystem within itself and it's 0:07:56.120 --> 0:07:56.800 the largest one. 0:07:56.840 --> 0:07:57.680 They have competitives. 0:07:57.720 --> 0:08:00.480 Salona, different things of that nature, but it's still really 0:08:00.520 --> 0:08:03.000 no competition when you look at it. So being at 0:08:03.040 --> 0:08:07.560 it's the second biggest crypto, but a whole ecosystem, and 0:08:07.600 --> 0:08:13.960 it's improving. I feel like it's the most important cryptocurrency 0:08:14.320 --> 0:08:17.760 and will continue to be the most important cryptocurrency moving forward. 0:08:18.200 --> 0:08:21.600 And I feel like Ethereum is here to stay. I 0:08:21.640 --> 0:08:25.080 don't think that it's going to collapse. Of course, it's 0:08:25.080 --> 0:08:27.480 going to have ups and downs. Cryptos have up and down, 0:08:27.600 --> 0:08:30.040 like that's crypto. If you don't if you don't want 0:08:30.160 --> 0:08:32.720 up and down, then you can't invest in cryptocurrency. But 0:08:33.240 --> 0:08:36.280 long haul, I believe in I believe in Ethereum. I 0:08:36.320 --> 0:08:40.120 have always believed in Ethereum, and I think that Ethereum 0:08:40.440 --> 0:08:44.120 will be here for a very long period of time. 0:08:44.960 --> 0:08:47.720 I'll say this too, if we stay in a crazy 0:08:47.760 --> 0:08:51.000 interest rate environment and we stay in this like recession 0:08:52.000 --> 0:08:54.920 like economy while the market goes up and banks are 0:08:54.960 --> 0:08:58.240 more valuable, yeah, Ethereum will have a lot more value 0:08:58.280 --> 0:09:00.040 for sure, because the banks start to integrate it a 0:09:00.080 --> 0:09:03.600 lot more. For those who don't, you know, get to 0:09:03.640 --> 0:09:05.400 take go look at the episode that we had with 0:09:05.559 --> 0:09:10.200 Big Boy, which I think was a great episode, the 0:09:10.280 --> 0:09:15.240 Ethereum will be because every recession there's new products, new 0:09:15.320 --> 0:09:19.480 services that are ushered in. Ethereum could be one of 0:09:19.520 --> 0:09:21.400 the ones that are integrated a hell of a lot faster. 0:09:21.600 --> 0:09:23.280 So when I was saying, hey, I think the banks 0:09:23.280 --> 0:09:27.480 are going to take over or maybe destroy, his thesis 0:09:27.600 --> 0:09:30.720 was what they're going to use etherea to integrate it 0:09:30.840 --> 0:09:35.560 into the banking system. So, yeah, if we stay in 0:09:35.600 --> 0:09:38.840 an environment where interest rates are high, tech stocks are down, 0:09:39.640 --> 0:09:43.760 Peloton underperforms. If banks do better, Ethereum is going to 0:09:43.800 --> 0:09:47.200 have a very important place in the banking system to 0:09:47.320 --> 0:09:49.679 help banks dominate even more. 0:09:50.840 --> 0:09:53.480 Yeah, and then the low that I'm looking at here 0:09:53.600 --> 0:09:56.839 was in July seventeenth to got down to nine to 0:09:56.880 --> 0:09:59.959 ninety three, and so right now it's currently an eight 0:10:00.080 --> 0:10:05.040 teen eighty six. So if somebody obviously entered the crypto 0:10:05.080 --> 0:10:07.920 space at that time made profit, I mean, I think 0:10:08.000 --> 0:10:11.439 we're right at the market was around April May when 0:10:11.440 --> 0:10:14.840 it was teetering around two thousand. Obviously it's high at 0:10:14.880 --> 0:10:16.880 forty eight hundred and last October. 0:10:16.960 --> 0:10:18.480 So it's just interesting to watch. 0:10:18.480 --> 0:10:20.920 But this is why we talk about being patient and 0:10:21.040 --> 0:10:23.679 understanding volatility and understanding that this asset class is a 0:10:23.679 --> 0:10:25.720 little bit different than the market, right, Like, these things 0:10:25.720 --> 0:10:28.520 are very violatile and it moves in a very fast way. 0:10:28.559 --> 0:10:31.480 But if you can understand the charts when you're trading stocks, 0:10:31.520 --> 0:10:34.040 then I mean you're gonna have the same principles that 0:10:34.040 --> 0:10:35.840 you can use when you're trying to trade crypto. 0:10:36.080 --> 0:10:38.120 It's just that it's a lot more filatile. 0:10:38.600 --> 0:10:41.559 If you guys need a entry, fifteen forty four seventy 0:10:41.679 --> 0:10:42.960 is a good place to get in if you if 0:10:43.000 --> 0:10:46.079 you haven't got in already as well, it's gonna slide 0:10:46.080 --> 0:10:47.760 back down, but that's a good place to be able 0:10:47.760 --> 0:10:50.640 to get in. And don't buy today. Wait for that price, 0:10:51.880 --> 0:10:55.080 please put in chat. Patience is what pays me, So 0:10:55.160 --> 0:10:56.360 wait for those right prices and. 0:10:56.320 --> 0:10:59.000 Then you'll be able to get in and take advantage 0:10:59.000 --> 0:10:59.920 of the upside of it. 0:11:01.120 --> 0:11:03.400 And once again, this is for a long term. So 0:11:03.480 --> 0:11:05.360 for those of you that are like taking my prices 0:11:05.360 --> 0:11:07.240 and remixing them and give them to your cousin for 0:11:07.280 --> 0:11:09.600 a two day swing, trade, this ain't it. I saw 0:11:09.640 --> 0:11:12.040 a lot of y'all Atlanta. Man. You let me down. No, 0:11:12.120 --> 0:11:16.680 you let me down. I said five here, I'm sorry. 0:11:18.640 --> 0:11:21.199 No gambling, no gambling hole for the long term. 0:11:21.640 --> 0:11:23.840 And here's the rule of thumb, just an investing period. 0:11:24.320 --> 0:11:30.720 Always always bet on the ecosystems. So Amazon is an ecosystem. 0:11:31.000 --> 0:11:33.280 Apple is an ecosystem. What I mean by that is like, 0:11:33.320 --> 0:11:36.320 if Apple goes down, it's not just Apple going down. 0:11:36.600 --> 0:11:38.440 All of the apps in the Apps Store that rely 0:11:38.559 --> 0:11:41.400 on Apple, all of the like, these are things that 0:11:41.520 --> 0:11:42.080 have to go down. 0:11:42.120 --> 0:11:43.760 So it's like economy will go down. 0:11:44.000 --> 0:11:48.439 Yeah, it's it's like Nino Brown, like you know what 0:11:48.440 --> 0:11:49.840 I'm saying, when it was like it's bigger than you. 0:11:49.880 --> 0:11:52.400 No Brown, like when you some people are just too 0:11:52.480 --> 0:11:56.200 big to fail because if you take them down, everybody falls. 0:11:56.679 --> 0:12:01.599 So I feel like Ethereum is that for crypto. Ethereum 0:12:01.640 --> 0:12:05.160 is too big to fail. And if Etherium fails, it's 0:12:05.200 --> 0:12:09.520 going to have a tremendous ripple effect, even bigger than bitcoin. 0:12:09.559 --> 0:12:13.720 Bitcoin to have a tremendous psychological effect, a tremendous psychological 0:12:13.720 --> 0:12:18.679 effect and a tremendous economic effect. But if Ethereum goes down, 0:12:19.240 --> 0:12:23.800 it's going to have a ripple effect across the whole ecosystem. 0:12:24.120 --> 0:12:26.440 So you have to look at it like this. There's 0:12:26.880 --> 0:12:30.920 trillions and billions of dollars invested into crypto, but most 0:12:30.920 --> 0:12:34.640 of it is with hedge funds and institutions, so they 0:12:34.679 --> 0:12:37.960 have a vested interest for the whole crypto space not 0:12:38.080 --> 0:12:40.560 to fail. So being that they have a vested interest 0:12:40.559 --> 0:12:42.960 in the whole crypto space not to fail, they have 0:12:43.120 --> 0:12:46.960 to keep some coins up, like Etherium has to be 0:12:47.040 --> 0:12:51.160 caught until they have an equal competition that is willing 0:12:51.160 --> 0:12:54.000 to take it out. You can't afford for Ethereum to 0:12:54.000 --> 0:12:57.240 fail because it's going to be catastrophic for the whole 0:12:57.360 --> 0:12:59.480 entire space, and it's going to cost a lot of 0:12:59.480 --> 0:13:01.520 people money. And at the end of the day, nobody 0:13:01.520 --> 0:13:03.720 wants to lose money. You don't invest to lose money, 0:13:03.840 --> 0:13:07.920 especially at the highest levels. So Ethereum is too big 0:13:07.960 --> 0:13:08.320 to fail. 0:13:08.440 --> 0:13:10.240 And even like from a dominant standpoint, I don't know 0:13:10.240 --> 0:13:11.720 if anybody ever looks at that, but I'm looking at 0:13:11.800 --> 0:13:14.240 right now on coin market cap. I remember the days 0:13:14.240 --> 0:13:16.240 when bitcoin dominance. The percentage used to be in the 0:13:16.280 --> 0:13:18.559 sixties and the seventies. If you look now, it's at 0:13:18.559 --> 0:13:23.200 forty percent. Ethereum is at twenty percent. This episode is 0:13:23.200 --> 0:13:25.280 brought to you by P and C Bank, a lot 0:13:25.280 --> 0:13:28.520 of people think podcasts about work are boring, and sure, 0:13:28.760 --> 0:13:32.680 they definitely can be, but understanding a professionals routine shows 0:13:32.760 --> 0:13:35.800 us how they achieve their success little by little, day 0:13:35.920 --> 0:13:39.200 after day. 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Don't wait, 0:15:05.920 --> 0:15:08.720 don't hesitate. Let's Square handle the back end so you 0:15:08.760 --> 0:15:13.600 can keep pushing your vision forward and so that that 0:15:13.840 --> 0:15:17.800 gap has closed substantially. About those two coins, of those 0:15:17.800 --> 0:15:21.720 two cryptocurrencies, about how much they affected overall space. 0:15:22.040 --> 0:15:23.160 So that's interesting to look at. 0:15:23.840 --> 0:15:26.200 Yeah, I see what she did with the ripple effect. 0:15:27.960 --> 0:15:28.400 Shut out. 0:15:28.400 --> 0:15:29.800 I mean, where else are you gonna get New Jack 0:15:29.920 --> 0:15:32.040 City and above the rim in the show? I mean, 0:15:32.200 --> 0:15:37.320 shout out to all the Ripple and XRP enthusiastic they 0:15:37.320 --> 0:15:40.960 are here. Burry dumbs all of his stocks except for one. 0:15:41.880 --> 0:15:44.280 What should that tell us about what's coming in the market. 0:15:44.280 --> 0:15:46.520 So for historical reference, if you don't know who Michael 0:15:46.520 --> 0:15:48.880 Berry is, if you haven't watched the movie The. 0:15:48.840 --> 0:15:51.280 Big Short, You should very very time. 0:15:51.800 --> 0:15:54.960 He's the one that made billions of dollars shortening the 0:15:55.000 --> 0:15:58.680 market in two thousand and eight for the housing crash, 0:15:58.880 --> 0:16:02.280 So you know, he became legendary for that situation. And 0:16:02.680 --> 0:16:05.680 now obviously anytime that he speaks, people take it very 0:16:05.720 --> 0:16:08.120 seriously because of what happened in two thousand and eight. 0:16:08.400 --> 0:16:12.320 So he's he's, I guess predicting that a very very 0:16:12.360 --> 0:16:16.600 cold winter in stocks is coming. We've had a nice 0:16:16.600 --> 0:16:20.520 little rebound in the last week or two, but he's 0:16:21.240 --> 0:16:22.160 he's not feeling it. 0:16:22.200 --> 0:16:22.800 So what's the. 0:16:22.760 --> 0:16:24.760 Deal with So yeah, I'm gonna let you just I'm 0:16:24.760 --> 0:16:27.560 gonna I just want to like frame this up right. So, 0:16:28.600 --> 0:16:30.800 there was thirteen positions that Sion had. That's the group 0:16:30.800 --> 0:16:35.360 that his firm, Right, they had thirteen stocks that they 0:16:35.680 --> 0:16:38.320 invested in. Google was one of them. They sold that off. 0:16:38.800 --> 0:16:41.840 Meta was one they sold that off. The one that 0:16:41.880 --> 0:16:44.480 they did keep is called geo Groups. 0:16:44.800 --> 0:16:45.760 You ever heard of Geogroup? 0:16:47.840 --> 0:16:51.200 Geogroup is a Florida based company that invests and operates 0:16:51.240 --> 0:16:56.040 private prisons. So I bought over three million dollars three 0:16:56.040 --> 0:17:00.280 million dollarsand shares of the geogroup, and since then that 0:17:00.320 --> 0:17:03.080 stock is going up twelve percent, which is interesting out 0:17:03.080 --> 0:17:04.600 of everything to sell off. 0:17:04.600 --> 0:17:06.960 I mean, you had Fortune one hundred. 0:17:06.680 --> 0:17:09.680 Like Google, Alphabet, you had Alphabet, and you had Metal, 0:17:09.720 --> 0:17:12.440 which is another you know, top ten as far as 0:17:12.440 --> 0:17:14.800 market cap, but you let those go and you kept 0:17:14.800 --> 0:17:16.919 the company that invests in private prisons. 0:17:17.320 --> 0:17:19.440 And if you ever, I mean, we've talked about. 0:17:19.200 --> 0:17:24.320 This in detail about the impact that private prisons have 0:17:24.480 --> 0:17:27.360 on our communities for sure, and how you know they 0:17:27.440 --> 0:17:29.680 profit off of making prisoners. 0:17:30.560 --> 0:17:32.760 So that's interesting. I'll let you I'll let you go in, 0:17:33.040 --> 0:17:33.800 I'll finish it up. 0:17:34.119 --> 0:17:38.840 Yeah. The reason, well, let's address it the private prison thing. 0:17:38.920 --> 0:17:40.879 I'm anti investing in prison and I don't care how 0:17:40.960 --> 0:17:43.600 much money is involved. I will never invest in the sector. 0:17:44.000 --> 0:17:47.359 The reason why they did, though, is because it's an 0:17:47.359 --> 0:17:49.399 indication of who's going to be in office when election 0:17:49.480 --> 0:17:54.000 cycles turn over. So if you talk to anybody politically, 0:17:54.440 --> 0:17:57.680 they're pretty much telling you like, hey, these next three 0:17:57.720 --> 0:18:01.320 to four years, politically, Escape is going to change very 0:18:01.320 --> 0:18:04.920 aggressively and very fast. But the reason why he sold 0:18:04.960 --> 0:18:08.160 off Meta he also had an Apple short that he got 0:18:08.240 --> 0:18:11.200 rid of. Now We're just in the middle. It's not 0:18:11.240 --> 0:18:13.919 an ideal time to initiate, and he buys. So if 0:18:13.920 --> 0:18:17.440 you're looking to put capital to use right now, things 0:18:17.440 --> 0:18:20.200 aren't low enough to buy, they're not high enough to short. 0:18:20.280 --> 0:18:22.600 So we kind of just riding in the middle. But 0:18:23.080 --> 0:18:25.679 since crime is going up, we're going to have to change. Politically, 0:18:26.280 --> 0:18:28.560 Hey just said, I don't see how Biden could win 0:18:28.840 --> 0:18:33.680 reelection unless the rock runs with him and the current 0:18:33.720 --> 0:18:38.040 VPCE sits down and we can talk about the Trump 0:18:38.080 --> 0:18:41.040 thing later with the FBI, but they are potentially propping 0:18:41.080 --> 0:18:44.119 him up for a run again. Things are going to 0:18:44.200 --> 0:18:46.240 change very fast. And that's what I'm saying now. If 0:18:46.320 --> 0:18:50.000 China collapses on top of that next year, which you know, 0:18:50.000 --> 0:18:51.720 I know something gonna back. I'm a conspiracy do this. 0:18:51.800 --> 0:18:54.919 But home sales are down twenty eight point six percent 0:18:55.000 --> 0:18:59.199 in China. Private investment homes are down twelve point three percent. 0:18:59.480 --> 0:19:01.720 So if home sales are down twenty eight percent, and 0:19:01.800 --> 0:19:04.199 I know everybody on Instagram, every realtor is telling the 0:19:04.200 --> 0:19:07.280 market is still going up. No, it's not. China is 0:19:07.280 --> 0:19:11.160 our parent, so if they have the flu, financially, we're 0:19:11.160 --> 0:19:15.200 going to get pneumonia next year or COVID twenty five, right, 0:19:15.880 --> 0:19:17.239 and things are going to be bad, and we're going 0:19:17.280 --> 0:19:19.040 to go through a period for maybe two or three 0:19:19.080 --> 0:19:22.679 years where it feels like ninety nine through two thousand 0:19:22.720 --> 0:19:24.960 and one, two thousand and two all over again, where 0:19:25.000 --> 0:19:27.440 we're just floating up and down and we're not having 0:19:27.440 --> 0:19:32.320 any breakout movement. Private equity is deploying capital a little slower. 0:19:32.800 --> 0:19:36.200 We're just not in a great economic environment. The great 0:19:36.200 --> 0:19:38.560 part is if you're an investor and you can wait 0:19:38.640 --> 0:19:41.040 this out. The number one advantage that we have is 0:19:41.080 --> 0:19:44.680 retail investors, is that we can hold longer the most institutions. 0:19:44.760 --> 0:19:48.880 That's for all the money is so we have fourteen 0:19:48.960 --> 0:19:52.760 years of quantitative easing, free flowing money. Now, the people 0:19:52.880 --> 0:19:56.080 that can actively invest and be patient and hold for 0:19:56.160 --> 0:19:58.399 long term are going to win. So when everybody was 0:19:58.440 --> 0:20:04.440 getting an easy option, trade train options are all not y'all, 0:20:04.440 --> 0:20:09.840 I'm talking easy penny stocks. I know there's a little 0:20:09.840 --> 0:20:12.760 war on campaign against me. Hey where are we now, 0:20:13.000 --> 0:20:17.440 Kathy have an issue? You can't cycle through all those 0:20:17.480 --> 0:20:20.640 stocks in all those trades. Now we're going to see 0:20:20.640 --> 0:20:23.400 who actually can invest. But it's going to be a 0:20:23.480 --> 0:20:26.800 game of long term. So please look at the big picture, 0:20:27.400 --> 0:20:30.879 the macroeconomic environment. I know it seems scary, but this 0:20:30.960 --> 0:20:33.160