0:00

Hi. I'm Nolan Sykes from

0:02

Donut Media. Here to tell you about our new podcast,

0:04

Donut Racing Show, or DRS. It's

0:06

a new automotive podcast about Formula

0:09

One racing.

0:09

Now, if you only watch the race on Sunday,

0:12

you're missing about seventy percent of the picture.

0:14

Even though there are tons of exciting moments

0:16

on track, There are even more that don't

0:18

make it into the broadcast. Every episode

0:21

comes out the Wednesday after a big race

0:23

weekend and will recap the triumphs and

0:25

failures of the week. the big personalities, and

0:27

of course, the drama from the paddy.

0:29

Let myself and fellow hosts, motor

0:31

journalist, Alenis King, and Elizabeth Blackstock,

0:34

be your friendly guides to the season

0:36

of Formula One as we bring a cheap beer

0:38

mindset to the champagne pop and

0:40

podium.

0:41

If you're new to F1A season fan

0:43

or have never even watched a race, this

0:45

podcast is for you. Check out Donut

0:47

Racing Show wherever you get your podcasts.

0:50

First episode here is July twenty seventh

0:52

after the French Grand Prix. Wow, that was

0:54

great. Love it. Thanks for being our cheerleader,

0:56

Alenis.

0:57

i could

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2:02

Shoes.

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gloves,

2:07

like gloves, the shoes of the

2:09

hand, or shoes,

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the gloves of the feet. You

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might find out, and I don't

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know about that with me. He

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got to the feet.

2:20

There

2:22

you go. Wait. Wait. Wait. today?

2:24

Good 1III

2:25

tell you, Jose. It's been big

2:27

week. Yeah. I'm I'm okay. He's got to advertise.

2:29

He's gonna be on Will Fortune Thursday

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night. Yeah. The American television.

2:34

It's all around. Yeah. You got it. So everybody

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will afford it. So will afford it. So

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everybody will afford it. And I'll

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the show guys, but I think I'm ready for regular. Not

2:45

just celebrity. I think I could do the regular ones.

2:48

You gotta work out your spinning arm. Oh, I

2:50

can tell that wheel is heavy. They've

2:52

got extra rubber bands on it and shit resisting

2:54

it. Like, I know they want the spins that because

2:56

if they make it too loose,

2:58

extends the period of the fan. Yeah. Someone's gone.

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The shows are running too long. We're not getting through

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fixed this, and I'll tighten up the wheel.

3:07

Some guys there with a with

3:09

a rubber band and a ratchet. And

3:11

he fucking tightens the wheel up. Hey. So

3:13

I've read K. So we've all been has everyone

3:15

been following? The

3:17

the trans woodshop

3:21

worker from Canada with

3:23

the enormous tits little bit. No.

3:25

I haven't No. I don't think I

3:27

sent you something. Yeah. You you started me

3:29

off on this rabbit hole. Earthquake

3:32

posted it. Earthquake probably oh, no. That's how earthquakes

3:34

first. I was I was in Canada

3:36

while it's all going on. It's all in the news. Right?

3:39

Anyway

3:39

and I think maybe we'll find this out by

3:41

next week. Yes. The yeah.

3:43

Put put up a photo of the trans because it's

3:45

ridiculous. Right. It's ridiculous. And then I

3:47

think it's not even

3:48

trans Canadian

3:51

transstage. Oh, wow. Those are

3:53

huge. Yeah. Yeah. Yeah. No. It's worth talking

3:55

about. Right? Right.

3:57

He wears his prosthetics. Anyways,

4:00

they're we They're not real they're not real boob.

4:02

Yeah. They're not like Are are you

4:04

sure? Yeah. They're not like a

4:06

surgery. But if the worst telling me is that even if

4:08

it was a real woman, if she was dressed like parents

4:10

would have something to say. And nipples are out.

4:12

If I can, you'd have something

4:15

to say. You'd go alright. Try to

4:17

make a deal at this. Right? But

4:18

the So

4:20

the Canadian school because it's a transition.

4:22

They don't wanna get to involved. They're like,

4:24

oh, we're sticking by. What's there?

4:27

Toronto.

4:28

says Oakville

4:29

I'm at Oakville. That's where I used to

4:31

live. area. Yeah. I should invite him to

4:33

the to the special. Oakville, Ontario.

4:35

Well, I don't know.

4:37

But but but but but

4:39

here here's the thing. Now, this

4:41

guy's this woman is obviously

4:43

a fucking idiot. If this is real, This

4:45

isn't anything to do with being trained. No.

4:48

There's someone there's someone a tungency

4:50

or someone who loves big tits, and

4:52

it's a seeding at their shirts. It's not a prep a French

4:54

thing now. It's it's not a story. It's not

4:56

being trapped in your own body. It's

4:58

it's now what you're being. Also,

4:59

this is completely un

5:01

unreasonable for woodshop. This these

5:03

are just getting in the way I saw it. I

5:05

saw it. Yeah. I know. Also,

5:08

also, all the all the

5:10

kids who have come out of the school, they're like this.

5:12

We don't really no one's even really talking

5:14

about it. I think they had an assembly where

5:16

they sat down and they went, alright, mister,

5:18

missus Wilson, as a big ass

5:20

kitties on a and the the media are

5:22

at the front of the school. So you guys, you're not

5:24

pleased about this. It doesn't make a difference. Alright?

5:26

That's the company line. Alright? Gids off you

5:28

go. Right. Yeah. because they look at

5:30

the look at the picture of the two of them

5:32

where it says gold. They

5:34

no. Down one. Down one. Down one.

5:36

Is that

5:37

him before I know? That's what wood chip teaches you just

5:39

a little bit. Now if you were a kid at school

5:41

and your teacher came in, mister mister

5:43

Wilson, a short Yeah.

5:46

Mister Wilson, he comes in

5:48

he comes in and he's he comes

5:50

in. No. I like that one with a

5:52

wood plank. Yeah. Go. Go back. Yeah. Give it.

5:54

Yeah. that one of the profile. I'm gonna

5:56

just cut this one for you guys. That one Yeah.

5:58

He he comes in and then the next day, it's

6:00

a she. So you refer to it as a she. You sure wants

6:02

to be a she. She comes in

6:04

with her big ass titties, and if I could

6:06

think, I didn't I

6:08

didn't have the skills at sixteen, not

6:10

to say anything. Yeah. Yeah. They

6:13

didn't teach me good enough in any school

6:15

for me not to mark in that period. It

6:17

came in with a big fake ditties like

6:19

that. Right? I don't know. These are very nice students.

6:21

Yeah. I would have been, like, these are go so

6:23

excuse me. For those visiting at home,

6:25

you should google this. Well, you have to google you

6:27

have to like this today. because I stop the

6:29

podcast, rewind it, and then as if I might

6:31

have given it to me. Before you are

6:33

judging things, we're being transphobic. Canadian

6:36

trends would show up -- The beach. -- just

6:38

to give you a little visual. The boobs

6:40

are that are There

6:42

is still the charts. Page boom

6:45

is two basketballs. Now -- Yeah.

6:47

-- two basketballs. But down to below the

6:49

waistline. Well, if there wasn't nipples, you

6:51

think it'd be the giant beer nickels are showing.

6:53

I'm intentionally through these. The nibbles

6:55

are showing these these are fishnets. These are a

6:57

custom job. Yeah. Or

6:59

they're they're different in Halloween. They

7:01

something. It looks like frustrating. This this

7:03

just creates more problems for the trans

7:05

community too because you get people who are

7:07

transphobic going, look at

7:08

what they're doing to our children. It's like, this is

7:10

a cosplay of

7:11

-- I guess -- something so ridiculous. I

7:14

think that because all the trans people have been supportive,

7:16

not all of them. Of course, there's people who haven't been. and

7:18

everyone's like, who are we to say? What this

7:20

person is? And I told her, the school

7:22

is standing by the teacher saying, this

7:24

isn't an issue. That's still a very good

7:26

she's still a very good teacher. I'm not gonna

7:28

comment on that either.

7:29

But

7:31

there's been a little twist this week

7:34

that this might be genius. Right?

7:37

It turns out that this this might be a

7:39

guy who -- One man

7:41

-- is a bit of no. He might be

7:43

a bit of a troll

7:45

Yeah.

7:45

That's it. That's what it feels like.

7:47

He's he's anti trans. So

7:49

he's rocked up to see how big and how

7:51

ridiculous an outfit he can get away

7:53

with. and how much the left wing

7:55

media will stand by him.

7:58

And if he has done it,

7:59

genius.

8:00

Alright. Amy interest.

8:02

Not good. Not good. Like, you're just a

8:04

shits there. You're not helping anyone out.

8:07

But

8:08

Got it. Yeah. It's like I'm all for people expressing

8:10

themselves how they want to, but this is like,

8:13

they obviously know that

8:14

this is So appropriately So

8:17

whatever the right the story is, still there

8:19

it's it's bad either way. Yeah.

8:21

It is it is okay, but it's a bike.

8:23

Let's try to Look, it is amazing

8:26

because because he he must have sold

8:28

it to the principal and everything because

8:30

he's just gone, no. This is who I am. This

8:32

is who I am. Because the school releases statement

8:34

saying, miss standing by the teacher.

8:36

Yeah. Standing by the teacher.

8:38

So they believed it at the school.

8:40

So you gotta give credit where credit's due.

8:42

He made He made the world news

8:44

by wearing fake ass

8:46

tits and telling us all this was what

8:48

he was trapped in. Somewhere Kevin

8:50

James is like fuck. This

8:52

could have been my next movie. It's

8:55

so amazing. Yeah. I was like,

8:57

why did I think of this? Oh, I I'm

8:59

trying to get the part in the biopic. If it's a real

9:01

thing, it's a drama. The one that's Those are

9:03

really dry nipples. Yeah. The

9:05

nipples are amazing. They're But

9:07

also the shirt. style of color. shirt. Yeah. You

9:09

said big and tall, but that's like it

9:11

looks like it's like a tuna

9:13

boat, cast out a net, and they're pulling

9:15

in the hall. I mean, it's from

9:17

far away. It just looks like a

9:19

Santa belly, like Yeah.

9:21

Or shrimp boat, actually. Yeah. I

9:23

believe that. and they're, like, getting all

9:25

the stuff out of pocket. doesn't make sense.

9:28

Well, either way, it's highly entertaining, and

9:30

I can't look away. I can't.

9:32

I can't I've been following it now. I'm just

9:34

like, this this is mental. Either

9:36

way, it's great that a bloke is just

9:38

going, no. I'm gonna fucking these trans people

9:40

are pissing me off. So what I'm gonna do

9:42

is I'm gonna wear some big wobbin kits. And I

9:44

bet you he went in the first day that you didn't get

9:46

any attention. He's like fuck tips aren't

9:48

big enough. bigger.

9:51

Unreal. because he might have started like he has to go

9:53

bigger. No one's noticed because

9:55

it it all happened because one of the teachers

9:57

did one of the kids did a viral video on

9:59

the slide.

10:00

Because III mean, it'd

10:02

be distracting to their education. Is the

10:05

picture of the old man next to

10:07

it? Is that No. No. No. That was. That's one

10:09

good job decision. stupid me.

10:11

He'll not chat. Okay. Yeah. I was

10:13

like, wow. He looks younger.

10:15

Yeah. That's that's wild. Bit

10:17

of fun. Bit of fun. Bit of fun.

10:20

Alright. You're on tour.

10:22

Sure.

10:24

No. I am my entrepreneur.

10:26

We're just about to recording you special

10:28

in October first October seventh

10:30

and eighth. You'll be I'm coming in the same way.

10:32

St. Louis, Missouri. There's still some tickets

10:34

available for that. Nashville.

10:36

There's still some tickets available for Nashville.

10:38

Plus, we have great opening band. The

10:40

doohickey's are gonna be performing. No

10:42

walk in music. You don't have to pay extra for that

10:44

folks. You don't have to pay any extra. It's just happening.

10:46

Just happening. And

10:47

then the night after that, I think that shows

10:50

if not saw that very close to saw

10:52

that quinola or something of quinari? That's

10:54

not the night after that's two weeks later, October

10:56

twentieth. Colonah Canada.

10:58

Correct. That one's And that one's very close to Twenty

11:00

first and twenty second Vancouver, both

11:03

in those -- No. -- twenty second. What what them

11:05

sold out that we added an extra show, so they still tickets

11:07

to the extra show. Okay. And then there's some

11:09

makeup dates, I think, for Columbus and Pittsburgh, the

11:11

twenty fifth of spoke very close to shot,

11:13

and there's still I'm not gonna lie to you. There's

11:15

still plenty of tickets for Columbus. So if

11:17

you wanna come along That's one of you.

11:20

I thought I had COVID because I had a baby

11:22

that had COVID, night symptoms whether I'm but

11:24

anyway, I'm coming. I'll be Columbus, Ohio twenty

11:26

seventh, and the young man, talked over to

11:28

Pittsburgh. So go

11:29

to jim jefferies dot com. All

11:32

the dates are on there, including the

11:34

Toronto dates and all that stuff there.

11:36

And then make sure you wear them a big

11:38

fake gosh Titty.

11:41

And, yeah, Patreon. Our Patreon is

11:44

still going. We just recorded an episode.

11:46

So

11:46

Adrian dot

11:48

com slash a to cap. Pageant, we talk about

11:50

what happened on with a fortune. So if

11:52

you watch with a fortune, Yeah.

11:55

Look. We just

11:57

watch it. No spoilers.

11:58

And you can follow us on

11:59

Instagram at id cat Podcasts.

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Alright.

15:30

Please welcome our guest. Nicole

15:33

Lappen. Good

15:33

night, Nicole. Now it's all.

15:36

Bye. Yes,

15:38

no. Yes, no. Yes,

15:41

no. Hello,

15:45

Nicole. I have to I have

15:47

to guess from your surroundings what you might be

15:49

talking about. So I'm

15:50

gonna go to lemon so you do a podcast

15:52

called money rehab. No shit.

15:55

She knows you. Yeah. So so

15:57

I'm gonna say this is something to do with finances.

16:00

Great,

16:00

Cass. Yeah. It should have been more incognito

16:03

with

16:03

my pack ground. I'm sorry, guys. That's okay.

16:05

I already messed this up. That's that's

16:07

fine. It does have to do with money. Yes. My

16:09

vision is not good. I thought it was at monkey

16:11

rehab. So I thought it was the

16:13

same thing. I was like,

16:15

mucky real. No

16:18

way to learn about that.

16:21

Well, this monkey has been taking

16:24

nicotine. It's not exactly money. So

16:26

there's something special. for monkey

16:28

rehab. It's

16:30

not

16:30

exactly money. But exact what do you mean is

16:32

not exactly money? Well, there's a specific thing.

16:34

We're talking about maintenance. Rehab.

16:36

And how much rehab

16:39

cost? Yes. Okay. So it's a

16:41

certain thing in global debt?

16:44

Nope.

16:44

No. This is something I mean, that you

16:46

definitely I'm

16:47

letting you know about it. participated.

16:50

Oh, with credit score.

16:52

No. We did that already. Did we? We

16:54

did credit. Oh,

16:55

okay. Do you

16:58

remember anything now? Yeah. No.

17:00

I don't remember nothing. Okay.

17:02

So

17:03

it's not monkey It's not

17:06

national

17:06

debt. It's not

17:09

credit score. Is

17:11

it How

17:13

do you get a loan? Something

17:16

that you invest in that that The stock

17:18

market? Yeah. Okay. I don't know what's

17:20

going on. Yeah. It's

17:22

it's a hopeless bloody

17:24

situation. It's down. It's up. It's a

17:26

good guy. He's like this. Every seven

17:28

years, you're gonna your money, and then I ring him back I'm

17:30

not even close to doing that. I've been with you for ten years,

17:32

and then he just says this to me over now.

17:34

This is

17:34

unprecedented times. Fucking

17:37

hell. It was unprecedented times back when

17:39

the bloody housing market collapsed. It

17:41

was unprecedented times. It's a

17:43

bloody, shunky, fucking business, the

17:46

stock market. Anyways, good to have

17:48

you here. Nicole

17:50

Appen is an award winning financial

17:53

journalist and television news anchor

17:55

and businesswoman She's

17:56

also a New York Times best selling author of

17:59

multiple books, including

17:59

Rich Bitch, BOSS Bitch

18:02

becoming Superwoman and

18:04

miss independent She

18:05

also hosts a number one business podcast. Guess

18:07

what it is, Jim? Rich bitch.

18:09

No money rehomes.

18:14

money class. So I thought it was rich,

18:16

bitch, from the book. Now, money really

18:18

have a book called Wealthy Boster.

18:21

Well, it's just about a guy who throws

18:23

you money in everyone's face. I got

18:26

more money than you. You're a bastard. That's

18:28

because I'm the wealthy bastard.

18:30

Our podcast is called Money Rehab.

18:32

It's a daily podcast that breaks down

18:34

the days financial news in ten minutes or

18:37

less. And

18:37

she's also only at the very top of the business podcast charts.

18:39

You can find her on Twitter at

18:42

nicholasapen and i g at

18:44

nicholasapen That's LAPIN

18:46

her last name. Thanks for being here Nicole. How

18:48

did you get involved in

18:51

money?

18:52

the

18:54

I just bought this step in repeat, and

18:57

I called

18:57

myself an expert. And we're done.

18:59

Perfect. I am actually the least

19:01

likely person to be

19:02

a mommy spart or know about

19:05

money or talk about money or have my

19:07

own money.

19:07

I started as a poetry major. So

19:09

if I could do it, anyone could do it. I didn't

19:11

work at a bank. I didn't get my MBA.

19:13

I grew up in an immigrant family where,

19:16

you know, we only used cash, didn't know

19:18

anything about mortgages. Oh, the immigrants

19:20

love the cash. That I'm --

19:21

Love the cow. -- I'm one myself.

19:24

it

19:28

on You're sir. Much faster on

19:30

the bastard. Oh,

19:33

our gosh. That's what that's what the colonel said

19:35

once when he was doing these deals with Elvis.

19:38

They go, why do you always like cash? And he goes, because if there was something

19:40

better than cash, it would be called

19:43

cash. Here's a way

19:45

with words. You said in a

19:47

Dutch accent like Tom Hanks.

19:49

Anyway, so you're a poetry major.

19:53

So I started that way,

19:54

and then I needed a job.

19:56

And so I was offered a job on

19:58

the floor of the Chicago

19:59

Merck in you know,

20:02

Chicago, I thought it was a mall,

20:04

not actually the stock exchange in Chicago,

20:06

but I was eighteen and neither the

20:08

job and didn't have a trust

20:10

fund or, like, didn't have anybody

20:12

paying my bills.

20:13

So I said yes. I fixed it

20:15

till I made it and I was on

20:17

the floor of Stock Exchange reporting business

20:21

news. And then not only did I speak the

20:23

language, I spoke it to the world, and I

20:25

realized that We just don't have a Stone

20:27

for this language growing up, and

20:29

it's not that complicated. So then I

20:31

went on to anchor on all these older

20:33

white

20:33

dude networks. And

20:36

after a decade, I wanted to talk to

20:38

my former self, that girl who was

20:40

smiling and nodding

20:41

and not joining basic money conversations.

20:43

My boyfriend in high school wanted

20:45

to be a fund I thought he wanted to be in gardening. So

20:48

Yeah. And what it

20:50

how did he turn it? What happened to that

20:52

fella? he actually

20:53

dumped me because What

20:55

is wrong with his bed? Because

20:57

I can

20:58

hang out with his Wall Street

21:00

friend. Oh, yeah. We didn't go into money. Didn't go into

21:02

money. bag. But then fast

21:03

forward, when I

21:06

was

21:06

anchoring on CNBC, his

21:08

friends

21:08

reached out. Yeah. And

21:10

Perfect

21:11

revenge. Oh, that's right.

21:13

I've seen a lot of that. like

21:16

that. never had anything like that happen

21:18

to me. I thought when

21:20

I get famous, sir, you'll all come

21:22

back and you'll wanna know what I'm

21:25

too. Well, you changed your name,

21:27

so it makes it hard. Well, I told you I

21:29

had the I had the girl I lost my virginity

21:31

to in one of an audience of my one of

21:33

my gigs. because

21:34

I changed my name to a stage name, she

21:36

didn't know she was watching me. Isn't

21:38

that

21:38

crazy? Yeah. Yeah. There you go.

21:40

Nothing to do with money.

21:43

Well, maybe you'll be better with money at the end of this podcast, Jim.

21:45

Oh, and I'm terrible. You're

21:47

you're all good. I've seen I've seen you. You you've

21:49

got no idea. I've I've got the smallest

21:52

idea. Nothing. And sometimes you look at

21:54

me, like, what are you doing? And like, oh, I don't know. I'm

21:56

putting it in a jar. I always I always

21:58

say that I need to go

21:59

live. I need to get married to somebody that knows about money and

22:02

then just let them but I don't

22:03

that's not

22:04

working out. And I Please

22:06

just

22:06

please just go die quick

22:08

hitting it. Yeah. Sorry about

22:10

that. The call for us is going through some

22:13

things. Oh, yeah.

22:16

Maybe this maybe this I don't

22:18

account. I don't know. Okay.

22:20

I'm gonna ask Jim a series of questions

22:22

about stocks. And at the end

22:24

of the those

22:26

answers, those questions, you're gonna grade them on as accuracy, zero through ten,

22:28

ten's the best. That's gonna grade them on as

22:30

confidence. I'm gonna grade them on, etcetera. We'll add

22:32

all those scores together. If

22:34

you score twenty one to thirty, stock car racer, pretty

22:36

good. Eleven through twenty stock boy.

22:39

Mhmm. Series or ten

22:40

stocker.

22:42

Where is

22:42

the wake ending?

22:44

Stalker?

22:45

Stork.

22:46

Stork.

22:47

Stork. It's not the it's not the

22:50

same word. was a

22:51

play on word. You said play on word.

22:54

Oh, okay. Oh, I'll let it pass.

22:56

No matter. Not here. If you did it in my

22:58

honor, it was a time for the Progyny made

23:01

the Progyny made didn't even small when you

23:03

said it. She was like, oh, god. Thanks for the call.

23:05

Thanks for backing me up. I

23:08

got you. We're both going through dark times.

23:10

Yeah. Jim, what

23:12

is

23:12

the stock? This

23:14

is okay for

23:17

me. First of all, I wanna say, I got

23:19

a guy who does this for me. Yeah. Right? I

23:21

know about properties. I'm not I'm actually pretty

23:23

good with money. I have now had a Build Wealth

23:25

and I does that. The stock

23:26

Mac, it's not my Forte, but I will give

23:28

it my biscuit.

23:29

The stock is when a

23:32

company sells itself

23:34

off to the public, and

23:35

then the public can buy small

23:38

portions of the company and

23:40

they're called stocks.

23:41

and have ownership of the company. And as the own

23:44

the the stock market, because how many people wanna

23:46

buy the stocks versus how many people wanna

23:48

sell the stocks? rely

23:49

on the price of what the stock's going

23:51

to be. So it can go

23:53

up and down and side to

23:55

side and then that what a

23:57

stock is. And it's it's earning a small part of a company, basically.

24:00

What is

24:00

an equity market?

24:02

the An equity

24:04

market. I don't know any of

24:06

these, but I still, like, kinda, like, strip back over here. Like, I know what I'm talking about. Equity.

24:08

Equity market is

24:10

where you buy the stocks

24:13

from What

24:14

is a bond? Yeah. I

24:15

got some of them. I got loads of them.

24:17

Yeah. I got tons of fucking bonds.

24:20

because I keep on getting told not doing well either. Normally, they

24:22

do very well, but they're not doing very well at the

24:24

moment either. Oh, that doesn't make me feel better. But they're normally

24:26

very reliable. You should buy more. Bond,

24:30

I've and I don't know. Man, I've

24:32

fucking got tons of those fucking things as

24:35

well. I want you go up and

24:37

down. And, fuck it, has me bonds

24:39

doing no good. What is a

24:41

derivative? Yeah.

24:45

Fucking one second. It says it's

24:47

super easy. it is.

24:49

Derivative. It's one of

24:51

those comics that aren't very funny. There

24:54

was like, men

24:56

say this. Whoa. Those ones

24:58

are Liberty. What is the security?

25:03

Fuck fucking you buy the stocks. You hope it

25:05

goes up. Buy low.

25:07

Sell high. Oh, the

25:09

the fucking end. What is an

25:12

index? It's

25:13

it's where you see all the

25:15

different stocks. NASDAQ. Okay.

25:17

So the NASDAQ Index,

25:20

and the all that type of stuff. That's a

25:22

group of different sort of

25:24

stocks that

25:24

are together. Yeah.

25:26

Okay. Here's I've

25:27

heard before. You got you gotta know this one.

25:29

What is the Dow and the S and

25:31

P five hundred? What are the Dow? The

25:34

Dow Jones. It's

25:34

fucking taking a plunge of light on it. What is it?

25:36

It's not doing well. It's but I'll tell

25:39

you I'll tell you what the color is

25:41

red. I'll tell you I'll tell you what

25:43

it isn't. doing well.

25:45

Yeah. But it doesn't be my undoing. I don't even

25:47

get me started. And then, fuck in the

25:49

NASDAQ. Fuck me.

25:53

What

25:53

is the Nasdaq? It's

25:54

fucking shit.

25:56

It's it's it's it's

25:58

doing worse than the Dow Jones,

26:01

man. They're in any of those. I

26:03

heard of them. That's just I know what they are. No. They're groupings

26:05

of things. Oh, look look. I'll be

26:07

honest with you. All my

26:10

all my stuff no. It comes from

26:12

the movie trading places. Yeah.

26:15

That's why III

26:17

realize this the other day when I was, like, putting

26:20

this together. And I can see this is how bad it is.

26:22

I put a lot of these questions together,

26:24

and we always let our guests look at the stock. And I

26:26

can see that Nicole went in here and changed all

26:28

my questions. No.

26:30

You just did. I'm glad that you did,

26:32

because all of my knowledge comes from movies too, and I

26:34

don't know anything. Look, I have a lot of

26:36

money in the stock market. Maybe

26:40

third

26:40

of my wealth is in the stock market,

26:42

but the rest

26:42

is in properties and stuff like that. And

26:44

I manage my properties myself. I

26:47

take care of all of them, and then I decide whether I'm gonna buy another one.

26:49

And I don't have any I don't know if you wanna managing my

26:51

money. I have someone managing

26:53

my stocks. Okay. I'll

26:55

tell you what I like that Blackstone. That's not a stock.

26:58

It's it's just a property thing. Anything to do with

27:00

property. I'm happy you got. Blackstone is

27:02

a private equity company. Okay. I got

27:04

lots of money in private equity. profit

27:06

equity. I got that.

27:08

Going on on the fucking I'm

27:11

crashing that, Nicole. The kill

27:13

puppies. But my

27:15

nice deck isn't what it Dow

27:17

Jones should be. Alright. Let's keep

27:19

going. We got a few more questions here.

27:21

How many stocks are in the Dow?

27:24

Oh, I remember it

27:26

from the rhyme. Fourteen

27:28

stocks in the Dow except

27:30

for the month of May.

27:33

What's up? Yeah. Sunday come forth

27:35

in Sunday. Sunday comes and stocks

27:38

are added. Let's see what you're

27:40

following. High before you

27:42

so I would say forty six. Forty

27:44

six. Okay. Here's 1II think I

27:46

kinda knew this one, but What does

27:47

a bull market mean? And what does

27:49

a bear market mean? What does this?

27:52

The bull market and the bear

27:54

market. See, auto I just

27:56

tell my guy, just stop fucking losing

27:59

money,

27:59

man. You know, another time. Yeah. I'm not a

28:02

stock market guy. Yeah. but I

28:04

think I know as well. No. I don't fucking know. The bear

28:06

market is blokes that look like you that

28:08

we're fucking ging up, it's and

28:10

they walk around and we bid on them, look at the clubs and

28:13

alleyways. And we bid on them in the beer

28:15

market. There's a hole in the market,

28:17

bowl. What are stock options?

28:19

They're like

28:24

DiPasco gotta jial. And

28:25

go back three spaces. You

28:28

went ten dollars in Second prize in the beauty contest. Alright.

28:30

We're almost done, Jim here. Look at this community chair. Here's

28:32

one from movies out here all the time. Maybe that what

28:34

does short selling mean? That's

28:36

what that's what the bloke in fucking

28:39

Omaha likes to do. He short sails

28:41

everything. Right? He tries the the

28:42

wizard of Omaha, which he's

28:45

back in now. Buffet. Buffet. Yeah.

28:47

Buffet. Buffet. Why would I

28:49

fucking why would I listen to that fucking

28:51

asshole? because he's rich. Yeah. He

28:53

still he still decides to live in Omaha.

28:55

He's not over but it's unknown. None of your opinions

28:57

matter, mate. Yeah. He's decided

29:00

to save money. Yeah. Yeah. I guess so.

29:02

He does it right. I like him actually. he gave a

29:04

lot of his money away, and he has egg meat muffins

29:06

for breakfast. So I watched the documentary, I

29:08

watched the text on a This happened to all

29:10

me stuff. What organization regulates

29:12

the stock market?

29:14

The the

29:17

government government? No.

29:18

That's good. They

29:19

organize everything, man. And oh, no. No.

29:21

Wait a minute. The answer for everything got How

29:24

many major

29:26

crashes of the stock market can

29:28

you name? The

29:29

Great Depression? which is a big

29:31

stock market. I I remember hearing

29:34

that Gretchen Max lost a lot of his

29:36

money. Mhmm. that

29:39

bloke who lost everyone the money

29:41

in New York who's played

29:43

about seven made off

29:46

he made he made offered a lot of money and then lost it

29:48

in the knee.

29:49

So made off no. I'm gonna say okay.

29:51

So we we just a stock

29:54

market crash. At the moment, I know that it's a

29:56

small crash going on, but how big a crash do

29:58

you want major crashes, where they're jumping

29:59

off the buildings? I

30:01

don't know. That was something in the eighties. I remember

30:03

seeing something to do with lean out of the

30:05

caprio, and that was all. That

30:08

was all like penny stock send out penny

30:11

stockies. Doesn't sound like it. Yeah.

30:13

Okay. What is what is

30:15

arbitrage trading? I'm

30:17

I now look like a moron. This podcast was never intended to

30:19

be like this. I think there's a guy who

30:21

wants to send a man. Totally to come up

30:24

to this there's three more

30:26

questions. What is arbitrage? arbitrage

30:29

trading. I don't know

30:31

how far I shut up.

30:33

What does EBITDA stand up?

30:35

What does EBITDA stand

30:38

for? Next question? Or Edible.

30:40

Edible. Edible. Edible.

30:43

Edible letters? AEB Just give

30:45

me one at a time. e. Edible,

30:46

b, bulls, i.

30:49

in,

30:49

t,

30:50

the tics, d,

30:52

the tics, a.

30:54

You said that's

30:56

the last word. Okay.

30:59

Wait. These are the

31:01

things that sell, baby. These are

31:03

the things that sell, this is where money to

31:06

do that. Last question. Most expensive share

31:08

on the market currently.

31:10

I know Tesla

31:12

is

31:13

very high at the moment. I

31:15

know Apple's always a

31:17

very high one, but I know that, like, when

31:19

I -- Yeah. -- boy, I bought, like, I

31:21

bought, like, Amazon. It was, like, three thousand or

31:23

something like that at one stage, three thousand five

31:25

hundred or something like that. So I'm gonna say Amazon.

31:27

What's the what do you think the

31:30

price is of the highest? most

31:31

expensive stock right now. Four grand or something, but

31:34

I might be wrong. Is is it something with stocks that are

31:36

like fifty grand or stock or something? Is

31:38

it? It'll

31:38

be like Rio Tinto or something like

31:40

that? It'll be something to do with like gold

31:42

gold mining. Well,

31:44

the most expensive stock,

31:46

and we could talk about what it is. it's

31:48

four hundred four hundred and twenty nine thousand

31:50

dollars. This is crazy.

31:52

I'll have one. You

31:56

talk about it now. It's fine. What is what is it?

31:58

What is it? It's

31:59

actually

31:59

Berkshire Hathaway, the a

32:02

shares. So Berkshire is

32:04

they

32:04

got many of. Warren Buffett.

32:06

guy in Omaha. Warren Buffett. Yeah.

32:08

So it's his company. And

32:10

so we're

32:11

buying shares and him buying

32:13

shares. essentially.

32:14

This is so wild. It's

32:17

such a Four hundred twenty nine thousand.

32:19

That's wild. Is that Four hundred and twenty

32:20

nine thousand. And then there's a big dip

32:22

after that. Is that a good investment? Yeah.

32:25

He doesn't believe in

32:26

stock splits, so a lot of

32:28

times companies don't get super

32:30

expensive because they do stock splits. For

32:33

instance, and so they give you more

32:35

shares, but then they become less expensive. So

32:37

it's not fairly correlated to how

32:39

well the stock is doing, how

32:41

expensive it is, but there's a huge drop

32:43

after

32:43

that. So after Berkshire,

32:46

is ticker symbol BRK

32:48

dot a. There are a shares and b

32:50

shares. Then it goes to four

32:53

thousand. dollars. Right. So it's two

32:55

it's really four thousand dollars. Yeah. At

32:57

four thousand one thousand. Yeah. And,

32:59

like like, Tesla's up in the two one

33:01

and a half or something in the moment.

33:03

Oh, I don't know. But, like, okay.

33:04

So, I mean, I mean, I I did ask

33:06

you. Okay. There's one thousand

33:09

dollars. Yes. Okay. So what happens

33:11

to this Omaha, like Warren

33:13

Buffett stock? When he is worth

33:15

four hundred something thousand,

33:17

what

33:17

happens when he dies, which

33:20

isn't

33:20

too far away, whether it be twenty years,

33:22

five years, whatever. But it's not, you

33:24

know, it's gonna happen like it happens to

33:26

all of us. Does that stop this planet? Well,

33:29

we're

33:29

actually gonna the tip that you guys

33:32

wanted me to come up with has to

33:33

do with that. Exactly.

33:36

You're skipping ahead. Okay.

33:38

That's it. First of all, how did Jim do on it? So first of all, how did Jim do on it? He

33:40

was a he was a point he's

33:42

in Warren Buffett. He's in South China. We'll we'll talk about

33:44

it at the end. What what what how did Jim do on

33:46

his score for zero to ten tenths the best? How did he

33:49

do? Two.

33:50

On accuracy? Yeah.

33:55

Three. Wow. Alright. Well, thank you.

33:57

Pretty good. And there's room to go up. Yeah.

33:59

There's

33:59

definitely room. I didn't fish

34:02

now. By

34:05

low. For sure. three. How do you doing Kevin?

34:07

I'm gonna give him a one on confidence because I do want

34:09

him to grow. I've been watching these fucking

34:11

things my whole life. That guy, the money

34:13

matter guy. He's just like,

34:15

alright. this body. Slaps a book there on the

34:18

table. What the

34:19

fuck's going on? Alright. Set

34:21

her at ten, stock boy.

34:23

Alright. So what is a

34:26

stock? What do you call it like? You were

34:27

actually pretty right on this one. So

34:30

why

34:30

you got a three. Alright. It was you

34:32

you started off really strong. So,

34:34

yes, a stock is also known

34:36

as an equity. It is security,

34:39

and that's another question, that represents ownership

34:42

of a company. So,

34:44

units, you kinda missed this part

34:46

of it.

34:48

Units of a stock are

34:50

called shares and that entitles anybody who buys that

34:52

share a little bit

34:56

of ownership in that company's assets, like, in proportion

34:58

to what the company's assets

34:59

and profits and all

35:01

that stuff are. to

35:04

how much they how much stock they I've made some savvy

35:07

like

35:07

stock for a person who knows nothing.

35:09

I've sort of thought

35:11

I reckon that company gonna go

35:13

up enough. Right? Like, I did it with Beyond Meat. I made, like, fifty, sixty grand off Beyond Meat

35:15

because I bought, like, in the first day and then I sold,

35:17

like, a month later because I could see everyone was eating

35:19

these bloody burgers. Right?

35:22

And

35:22

so that I that's the that's the way I do stocks. This

35:25

drink is tasty. It's

35:28

not a bad strategy.

35:31

Yeah. It's a pretty good

35:33

strategy. A huge part of

35:35

the economy, right, is how much

35:37

consumers are spending. And so

35:39

a lot Street people ask their kids, like,

35:40

what they're buying, what they're into. Well, so all

35:43

the kids are

35:43

playing roadblocks, and I know that stock has gone down at

35:46

the moment. I bought a bit of that and made some money

35:48

of roadblocks because my kid was playing

35:50

roadblocks, all the bloody time. And all of his

35:52

mates were playing roadblocks, and I thought,

35:54

alright,

35:54

roadblocks. I had a friend,

35:56

well, Wantalk, at the beginning of

35:58

COVID. Right at the beginning, he bought Zoom. Like,

35:59

even before COVID

36:01

started, he bought Zoom for some reason. Yeah. I

36:03

guess he knew that everyone was gonna be Zoom error. Like, that was

36:05

the thing that was gonna happen.

36:08

and

36:08

then he made money off

36:09

the Zoom stock, you know? because and that somehow Skype missed

36:11

that. I don't know why, but Yeah. Zoom drives. And it

36:13

there was one before I

36:16

could aim But, like, how are you stuffing this up, man? Yeah.

36:18

Yeah. And Zoom just took off during

36:20

COVID, obviously. I remember because I got a I got a

36:22

Yahoo email account. When I was first

36:24

getting email, And then someone was

36:26

like, no. Hotmail is the only one. If you don't

36:28

have Hotmail, I was like, like, this one.

36:30

Yeah.

36:30

Hotmail is gone. Gmail. That's

36:32

proven right. But we so when

36:34

the when you say, like, you own

36:36

a little piece of the company, that's another thing in

36:38

movies. I always see where

36:39

they're like, I'm just

36:41

gonna reference dodgeball because the end of dodgeball. I'm like, you know,

36:43

it's a great Wall Street movie, a bunch of

36:45

them. They own Global Gym

36:47

at the end. a

36:49

glimmer chip's gun front. Yep. But they're always like they

36:52

own now they own the company is that

36:54

they actually they don't really own the company.

36:56

Right? If you own most of the

36:58

shares

36:58

you own the company. Is that real?

37:00

Or is that I don't

37:01

know. If you

37:03

yeah. It's it's correlated to

37:06

the percentage. that you would own. So you one of

37:08

Tesla, you technically

37:09

own Tesla, but you're

37:12

not gonna help a

37:14

lot

37:14

of power in that. Yeah. You're not on the board. You can't make decisions,

37:16

but my son always freaks out because we'll

37:18

be driving by something. I'll go, hey, I ain't

37:20

a bit of that. open. He's because

37:22

I own a lot of Apple. Yeah. Right? And he's a and he and

37:25

I go when he opens his computer, I go, hey,

37:27

I own a bit of Apple, But

37:29

now

37:29

my son thinks I I shouldn't have told him

37:31

because he's been telling other kids that I

37:33

own Apple, which is

37:36

true and not true.

37:38

And, like, like, it's hard to explain stocks to me and shares

37:40

to me. Really

37:42

hard for me, the more on the trickle

37:44

down effect is not working

37:46

until the nine year old what's going

37:48

on. Oh, I can listen to this podcast. Yeah. I

37:50

figured it out. But, like, the Green

37:51

Bay packers, those fans

37:54

are really an radical,

37:56

and that's a publicly traded

37:58

company. Yeah. That's

38:00

right. Yeah. They're in both the team. Yeah. They're

38:02

in both town. Yeah. You I've never

38:04

been to Green Bay proper. I've been I

38:06

played next to it. Oh, I've been to

38:08

Green Bay. Yeah. Yep. Have your

38:11

team. Okay.

38:11

What what is an

38:14

equity market? Jim says

38:16

it's where you

38:17

buy the stocks from.

38:19

Yeah.

38:20

So essentially an equity is a stock. So when

38:22

you hear headlines that equity markets

38:24

are crashing, that just is fancy.

38:28

verbiage or jargon for the stock

38:30

market. The difference though

38:32

is that stocks can be

38:34

issued in public markets or private

38:36

markets depending on the type of stock that

38:38

you're trading. So most

38:40

equity markets would be the stock

38:42

exchange like the New York stock exchange, but

38:44

it could also be like a private venue,

38:46

so public versus private

38:48

equity markets.

38:48

If movies have led me to believe anything,

38:50

so everyone yelling in the book, buy

38:52

buy, buy, sell, and they're waving the bits of paper, I'm sure

38:54

it's done differently now. They can't they'd be still

38:56

doing that. Right? They still do that? No.

38:58

No.

38:59

I can't. If they

39:00

do, like, as a back drop

39:02

for some of but the open

39:05

outcry trading stuff that you see

39:07

in movies

39:07

is not really

39:10

anymore. But it seems like it's a job that everyone either,

39:12

but he gets really upset or on cocaine.

39:14

Everyone seems to be like,

39:17

You know what I mean? Like, that's how movies depicted.

39:19

He's that taxi. Yeah. Everyone's, like, stressed

39:21

out and all these type of stuff. It

39:23

doesn't seem like fun. Is that

39:24

not true or they chill people in that business? I

39:27

mean, everybody

39:28

has fun a different way.

39:30

But

39:31

those are like traders who

39:33

are filling orders and

39:34

a lot of that stuff is done

39:37

by computers right now.

39:39

right Right. Can

39:40

I still buy pork belly in orange

39:42

juice? Yes. Those are commodities.

39:45

Right. Yeah. I see. That's what

39:47

they trade at the Merck. That's what

39:49

I go like this. I'll go. It's not gonna buy orange juice this year.

39:51

It was it was a long

39:54

winter. The trading lasers are

39:55

going off of. Yeah.

39:58

Yeah. Whatever the fucking film do

39:59

you

39:59

know? So let's sit here and tune a commodities. A

40:02

commodities is not a stark. commodities are

40:04

orange juice and

40:06

pork belly.

40:08

That's actually right. As far as now name me two

40:11

other commodities. Check-in.

40:13

It's coffee

40:14

coffee is one. Right?

40:16

Yeah.

40:17

Gold, silver -- Gold, silver. --

40:20

bronze. Soybean. But

40:20

isn't the gold

40:21

tanking

40:24

at the moment as well, gold always I I heard that gold's

40:26

tanking because bitcoin's tanking and people

40:28

normally bought bought gold or bought bitcoin

40:30

or something like that. it

40:32

all feels like a lot of rubbish. Right? Do you ever like k.

40:34

I know this is your job

40:35

and everything like that. I'm I'm not trying to shit on

40:38

it or anything like that because you're obviously a lot better

40:40

at this than

40:42

I am. But do you ever sometimes just all

40:44

this all about

40:45

about? Yeah. Totally. I

40:47

mean, they're

40:50

they're it's it's crazy because you can do all of this analysis. Right?

40:52

And then you'll have this, what they

40:54

call, a black swan event where

40:57

the shit hits the fan somewhere or

40:59

some terroristic attack or, you know,

41:01

the world crumbles in one way

41:02

or another. And then it's like, all out

41:05

the window. So markets

41:06

are, yeah, bananas. When does it start marketing gonna pick

41:08

up? because I've lost a lot of money in the last year or so.

41:10

So when is that when is that gonna turn around?

41:12

That's the million dollar question.

41:14

million know aggressor

41:16

Right? Yeah. If

41:16

I knew that question, I would not

41:18

be on this podcast, I'd be on a beach.

41:20

Well, you

41:21

know the question. I just did

41:24

the answer. Well, can you just do this podcast on a beach? Yeah. You know what doing?

41:26

That's a joke around. Yeah. It's a podcast. No.

41:28

A nice man. T. J. Lavan do it from

41:30

an ice cream shop. Did you receive any WiFi

41:34

your beat. What

41:36

is a bond? Jim's got loads of

41:38

them. He doesn't know what they are. Yeah. Don't know. Don't

41:40

know. Don't know. I got shit tons.

41:44

pages. So

41:45

a bond is also referred to

41:47

as a fixed income

41:50

investment. A bond is essentially

41:52

an IOU. So the most common bonds that you'll

41:54

hear about being traded

41:56

are treasury bonds, and those are bonds

41:58

that are issued by

41:59

the government. So it's

42:02

essentially an IOU. A

42:04

company or a government wants to do

42:06

something, build a bridge,

42:08

expand whatever, they need money to do that, so they issue bonds

42:10

or debt. And then in

42:12

exchange for that, they give you your principal

42:14

backs of the amount you lend it

42:16

to them. and

42:18

then some so some of that fixed

42:20

is for

42:20

or interest on the time. We're learning money

42:23

to the government when we do

42:25

that. So that's when you go buy war bonds during the war,

42:27

there always, like, every movie is, like, make sure you buy

42:29

some war bonds. still a

42:31

thing. Well, we're

42:32

not in the

42:34

war. We're always in a war. America. We're always somewhere

42:36

where we're plotting. Yeah. I

42:38

will say

42:39

that pawns are awesome right

42:41

now. are inflation bonds, i standing for

42:44

inflation. And series i bonds

42:46

are right now getting nine point

42:48

five two percent annualized

42:50

because inflation is so

42:52

crazy.

42:52

And that's it. That's a really legit

42:54

return. So you can

42:57

invest fifty to

42:59

ten thousand dollars. So if

43:01

you have some extra money, it doesn't

43:03

need to be a lot, but

43:06

eye bonds, you go and get those that

43:08

tries to redirect. dot

43:09

gov.

43:10

Alright. I'll get some more about nine percent.

43:12

Wow. Yeah.

43:12

It's a lot. There's a lot. Inflation

43:15

state. I'd be happy if the stock market

43:17

was gonna be nine percent Yeah. What

43:19

is

43:19

a derivative? Jim said something about

43:21

a comedian. Yeah. You know those

43:24

ones. Is that what you

43:26

talk about? So

43:27

derivative in the financial

43:30

world is not an asset,

43:32

but some variation of

43:36

that asset. that would include options,

43:39

futures contracts, which you often

43:41

see with commodities like orange juice, futures

43:43

and things like that. So

43:46

it's not actual asset itself. So like a futures

43:48

contract on orange juice would

43:50

be the option to buy it at a

43:52

future date. So it's not actually the orange

43:54

juice. It's it's product

43:56

that's based

43:56

on it. Okay. So III

43:59

kinda get the gist of

43:59

what's going on. And as I said, I can get a Rob and

44:02

Hood app, and I can have a little bit of a go out

44:04

at me and I got a bloke

44:06

who doesn't answer that. Okay.

44:08

It's of course, it's very complicated. You're

44:10

talking about all these different things and bonds

44:12

and orange juice and the stocks and a bit of body worn

44:14

buffets. Who who

44:16

and

44:16

when was this

44:18

invented? Like, when did we

44:19

go from just you put your money in the bank or the bank or the

44:21

thing? And then it's like, would you want a small bit of a

44:24

company? Is this been around for hundreds of years?

44:26

Or is this something that we sort

44:28

of invented when? Seventeenth century.

44:30

So

44:30

that was the Dutch

44:32

East India company where it

44:36

that essentially started,

44:38

and that

44:39

then morphed into the New

44:41

York Stock Exchange and whatnot. So

44:43

I would say around this eighteen hundred. So it

44:45

was one company that was like, would you like to own a small portion of our company and we'll

44:47

give you dividends? Is that how it's the same? Yeah.

44:49

And what

44:50

did what did they do?

44:52

The

44:53

Dutch East

44:55

India company, I think,

44:58

was I actually just looked

45:00

up I'm I'm trying to pull it up. I remember that name from history, and I remember

45:02

it, but it was, like, spices. Oh,

45:04

they sound a little bit slavery,

45:06

reread. I know. But Columbus was

45:09

don't remember there were I just remember that name from history. When you said

45:11

it, I was like, well, I forget what that

45:13

one is. Yeah. The duchies

45:14

I I just remember it in history all

45:16

the and then like, it it was in brain in high school

45:19

and now it's out. So so when

45:21

when the stock market crashes. Right?

45:23

When it crashes and you have the great

45:25

oppression, you have these people. I've lost everything. God, no,

45:27

no, no. Why

45:28

is that that everything all

45:30

at once becomes worth nothing?

45:33

Like,

45:33

surely, you would have certain things that would

45:35

still be worth something. Like, right now, we're in

45:37

a downward slide. Why has everything become

45:40

worth nothing? The population and still exists. We're

45:42

all still here. We all still want these

45:44

products. Is it just because we're we're all running

45:46

out of money or because

45:48

what what Well,

45:49

I think it's hyperbole when people

45:51

say they're worth nothing. That's that's

45:53

actually not

45:54

true. They're not zero dollars.

45:58

they are worth something. So when they go down, they

45:59

might be worth less than they were before. But

46:02

if you're a long term investor and you're

46:04

not a day trader and buying individual

46:06

companies but

46:08

buying index funds which we'll talk about, then it's

46:10

important to put your binders on because if you buy

46:12

an index vendor, buying a basket of a bunch

46:14

of different things. And typically, when something

46:16

goes down, something else, is propping it

46:18

up. So if you have a long time

46:20

horizon, you shouldn't be, like,

46:22

checking your Robinhood

46:24

app or you know,

46:26

business news every single day or your

46:28

portfolio. I look

46:28

at my portfolio about once a month

46:30

just to see if I'm gonna be happy or

46:32

sad. And then about once every four

46:34

months to ring up my guy and go,

46:36

what the fuck's going on? Unprecedented. Yeah. He just says

46:38

unprecedented times. And

46:40

then I get off the phone a

46:41

bit calmer. and I

46:43

move with me day. Is that the right way to

46:46

deal with money?

46:48

Well, I think

46:49

there's always unprecedented times.

46:51

Intervention managers like to

46:53

say that. But it's always kukka

46:55

bananas in one way or another. There it's

46:58

always unprecedented. It's

47:00

always chaotic. So, yeah, I think opening it once a month or or

47:02

once a year and having sort of a

47:04

system where you dollar cost average, which

47:06

is fancy. jargon

47:08

per se, you put in little bits of money at a time, so you're not trying to

47:10

time the

47:11

market where, you know, you're the

47:13

adage of silo, so high is totally true. The problem

47:15

is you don't know where

47:17

low is you don't know where the high is. So you try to put

47:19

little bits in to get the average

47:21

or dollar cost average

47:24

of what that

47:24

would be. So if you come up with the plan and

47:26

you stick to that plan, that's really important to

47:28

try not to follow all the hysteria

47:31

that happens during these ups and downs because that's

47:33

what markets do. They go up and down. It's like a roller coaster. You don't get off

47:35

in the middle of a roller coaster. And and do

47:38

you think that you

47:40

if you follow it all the time, you

47:42

will start seeing signals of when something's gonna go

47:44

up. I've heard that, like, when it peaks like this and it

47:46

goes down, there'll always be a second pick up before

47:48

the last it goes down. So you gotta do it in this

47:51

little dip here or something like that. See, I

47:53

believe that I've I've been I've done

47:55

very well at a property I bought it

47:57

the right time and I I follow the property market like very heavily.

47:59

I follow the problem.

48:00

I I read about it weekly. Right?

48:03

and I believe I

48:04

can follow that. But that's just one thing.

48:06

The stock market feels like to

48:08

follow the stock market, I gotta follow

48:10

thousands of shares where they're all going and all that type of stuff? Or do they

48:13

all sort of move the same

48:14

way for the most part?

48:17

No. They don't. Okay. There's

48:19

like a lot of different kind of asset classes

48:21

that are correlated or not correlated. And

48:23

the little bounce thing you were talking

48:25

about is, like, what It's

48:27

kind of dark, but it's what Wall Street calls a

48:29

dead cat bounce. Mhmm. So it goes

48:32

down and then a little bit up.

48:34

But this is not about timing the market.

48:36

There's another adage. on

48:37

Wall Street where it's about time in

48:40

the market versus timing the

48:42

market. So over time,

48:44

you know, equities or stocks are gonna yield you

48:46

about ten percent non inflation

48:48

adjusted. So

48:51

So looking

48:52

at trying to get those games over time,

48:54

not trying to, like, time the bounce of

48:56

the dead cat. Right. Right. I've

48:58

I've left the money there that

49:00

By

49:01

the way, the Dutch read their Wikipedia. Yeah. I

49:03

bet you this slavery involved. It feels like it.

49:05

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51:09

What is

51:10

a security?

51:12

So

51:12

in security, it

51:14

incorporates both of what we just

51:16

talked about. Equity is so stocks and

51:18

also debt and then hybrid. So anything that you're

51:21

buying of that variety would be

51:23

called in security. Okay. And

51:24

then

51:25

an index. So Jim

51:27

said Nasdaq

51:28

Index is what he referred to. That

51:30

sounds right.

51:30

I don't know. Is it

51:32

it's not wrong. Yeah. And Index

51:35

is a way to track the

51:38

performance of different kinds of

51:40

assets in some sort of

51:42

standardized way. So indexes

51:46

typically measure the performance of different sectors, like the Russell

51:48

two thousand Index tracks small

51:50

cap stocks. The Dow Jones

51:52

Industrial Average is

51:54

another index S and P five hundred

51:56

is an index that's a broad based index that pretty much captures the whole

51:58

market. So when people say the

51:59

market is down, they typically are

52:02

referring to the S

52:04

and P five

52:05

hundred. Do you feel like that there is a lot of quesars?

52:07

You know, and sometimes you talk to doctors and

52:09

I oh, lawyers especially. He's

52:11

talked to lawyers and you get

52:13

a contract and you're like, I don't understand what's

52:16

going on here. It's because they're using only

52:18

words that they understand, so

52:20

they have to they do that to

52:22

make themselves earn the money because otherwise I could read my own contract and is

52:24

what's going on in perpetuity of a thing

52:26

of the thing. Right? So do

52:28

you feel like that there

52:31

because like the SMP5 hundred

52:33

is not a catchy name. And

52:36

the Nasdaq is not a

52:38

catchy name. Why don't they call them like Dave and

52:40

Peter? So it's easier for people to

52:42

understand. Is it so that stock market people

52:44

can be ahead of

52:46

morons like

52:48

me? That's a multi line

52:49

question. Yes.

52:52

And the jargon I

52:54

truly believe and this is why

52:57

I do. What I do every day is the thing that keeps people out of

52:59

this world. And once you learn the language, it's not that

53:02

complicated. So if you go to Japan and you don't

53:04

speak Japanese, you'll be

53:06

really confused. until, of course, you speak the language and then you're like, oh, dad, that

53:08

thing wasn't that complicated once

53:10

I know it. If you go to Wall

53:12

Street and

53:14

you don't speak the language of money, you'll

53:16

be confused. But every industry has a bunch of acronyms and a bunch

53:18

of lingo that that

53:22

is you know, proprietary to them just like lawyers

53:24

talk in there and like legalese.

53:26

So, yeah, if you don't

53:28

know the language, it's okay. You just

53:32

have to learn the language in order to join the conversation.

53:34

And it's not that complicated. Like, you figured out

53:36

harder things in life than, you know,

53:38

what the Dow does. And the

53:40

Dow was created

53:42

in, I think, the

53:44

late eighteen hundreds as this

53:46

proxy for the broader economy.

53:47

It was started by Charles Dow,

53:49

and I think his Buddy. Something

53:51

Jones. So that's how that was named. No.

53:53

It's not the most

53:55

catching name.

53:56

I'm telling you dive.

53:59

That's kind of the Jones one.

54:01

Well, Dave is actually the

54:03

company. It's Have

54:05

I invested in Dave?

54:08

Dave answers. dev ambassador. I always I always, like, whenever I look at

54:10

my thing and the the money, you gotta put the things and

54:12

the different things. And I got

54:14

that. That's

54:16

good. Use that. And

54:18

then my wife looks at it. You've got some

54:20

Canada Goose. No, I'm sorry.

54:24

They use wolf fur or something. Sorry to get rid of those because

54:27

my vegan wife. So I

54:31

So this is the next question you kinda talk about, what is

54:33

the Dow and the S and P five hundred? You

54:35

kinda just answered that. The S and P five hundred

54:37

is a -- Yeah. --

54:40

stock price. The

54:42

Dow

54:42

is the benchmark

54:44

for blue chip stocks. Do you

54:46

guys still have me? Yeah.

54:47

We have your voice perfectly. You phrased

54:49

up. We have your voice fine.

54:51

Yeah. And so so you've just got the deck. There's the stock for

54:54

blue chip, and then we all wet wet the

54:56

blue

54:57

chip.

54:59

Blue

54:59

chip stocks would be

55:01

like the best of the best. So

55:03

the biggest stocks companies

55:06

would be in the Dow. I

55:08

think this was the next question, but the Dow tracks

55:11

thirty

55:11

of the largest

55:13

publicly traded stocks. So you

55:15

mock me when I said forty nine. I don't know. five

55:18

hundred consistent. Yeah. You were close. I

55:20

didn't know. I knew it was

55:22

the bullpuck. Well, then,

55:23

obviously, the S and P five hundred consists of five hundred companies.

55:25

Fun fact, they issue a total of five

55:27

hundred and

55:29

five stocks because some

55:31

companies like Berkshire Hathaway, which we've already talked about, issue

55:33

different classes of shares.

55:36

Anyway, there are some rules around

55:38

the index company

55:40

is sucking, they get booted out of

55:42

the index, which is why, you

55:44

know, for newbie investors, specifically,

55:47

it's better to invest in indexes, indices,

55:50

tomato, tomato, tomato, than just

55:52

buying individual stocks because

55:54

then you

55:56

have like essentially a little piece of all of these companies. And

55:58

when one goes down, you know, something else

55:59

is propping it up. So out

56:01

of these companies, can you name

56:03

us a few of the famous

56:05

companies that have been kicked

56:07

out.

56:08

That actually, I

56:11

I don't know. So what

56:12

happens when the the person doesn't know?

56:15

Oh, Adi Adi Adi Adi Adi Adi

56:17

Adi Adi Adi Adi Adi Adi Adi Adi Adi Adi Adi Adi Adi Adi Adi Adi Adi Adi Adi Adi Adi

56:19

Adi Adi Adi Adi Adi Adi Adi

56:22

Adi all the time. We don't yeah. No. It's all the time. Yeah. And so

56:24

we can make it edit in Google. That's

56:26

what you know. That's what we do

56:28

anyway. No. It's that's That's

56:31

the point of the box. You don't expect you to

56:33

know anything. must know everything. That's the thing.

56:35

No. I'll tell you I'll tell you some

56:37

other ones that that have been kicked. That's

56:39

why Atari's one of them. IC

56:40

Cola. It's gone. That was in there. Makes

56:42

sense. That was in there.

56:44

Ajamayama's maple syrup. Mhmm. What's

56:46

that rocket? That blew up. Yeah.

56:49

Yeah. That's no good. Yeah.

56:52

That's the bestestestestestestestestestestest is

56:56

a booming company. That would have been,

56:58

like, you know, I put all the money into

57:00

asbestos. Yeah. Yeah. That wasn't there. This

57:02

is how bad I am at socks. By the way, you said

57:04

you said the S and P, of course, has five

57:06

hundred. And I was like, I get

57:09

a question. I was

57:11

like five hundred, you know

57:13

what I'm saying? It

57:15

had to come across five hundred I would have got

57:17

that right. I would have got that question right. What does

57:19

a company have to do to make it so

57:22

viable to go into the stock market? Could I just

57:24

put myself on a stock it as a product

57:26

because I sell tickets to shows and I type of

57:28

stuff. Or am I

57:29

too smaller company being -- Like,

57:31

a shared demographic? -- me

57:33

just being myself. Like, what is how --

57:35

Hi. -- how big it comes out? would invest in you,

57:38

Jim. Thanks. Thanks. Thanks. You

57:40

wouldn't you wouldn't get much of

57:42

a return. goodwill,

57:45

a couple of friendly I didn't expect that.

57:47

But how big a company do you

57:49

have to be?

57:51

There's no real requirement,

57:54

but it costs you have to hire an

57:56

investment bank to do an

57:58

IPO or initial public offering, and those

58:00

fees are like seven hundred

58:02

fifty to a million bucks for

58:04

instance. And so you would need to pay

58:06

for that. So typically, you know,

58:08

profitable companies with,

58:09

like, a bucks of EBITDA, which we'll

58:11

talk about later. You can talk about

58:13

it now, if you want. STD

58:15

It's earnings before

58:18

interest taxes, depreciation, and

58:20

amortization, which is just like

58:22

fancy, you

58:22

know, alphabet

58:23

soup for profit. And

58:25

so there are some, you know,

58:27

like, over the counter companies or startup

58:30

companies that are pre revenue and

58:32

and all these other things. But ideally, if you're a

58:34

profitable company,

58:35

and you

58:36

have big profits then.

58:38

No. No.

58:39

No. I I sell

58:41

these classy mugs. Right? That

58:43

boy can dream. Yeah. I sell these classy mugs. They would go a

58:45

fun thing on them. And so so if

58:48

I wanted to sell all the cord cutbacks, I

58:50

I just

58:51

of course. mugger mug. Anyway, so if I

58:54

wanted to sell my cut mugs on the stock

58:56

market, I just want it's worth

58:58

a million indoors me

59:00

personally just to have one of these mugs and to

59:02

ring the bell. If I'm on there, do I get

59:04

to ring the bell?

59:06

Not everybody gets to ring the then I'm not gonna

59:08

spend a million dollars when I get to ring

59:10

a bell. I wanted to go. I mean, my

59:12

guys are ting ting ting ting ting

59:14

ting and I sit there and I've got

59:16

like the the Philadelphia

59:18

mascot standing next to me. He's come for

59:20

the show. The Philly fanatics. Yeah. The Philly

59:22

fanatics. He'd be there. Why is he there? because

59:24

you gotta put on a show.

59:26

This is the thing for us. You gotta put

59:28

on a show business. We'll

59:30

we'll get you a bell. Don't

59:33

worry. You could probably get a bell. Yeah.

59:35

A lot of charities were in the bell. But

59:37

the difference between that, you know, now there's

59:39

the bloke for the Salvation Army

59:41

on the corner. with me mug and put

59:43

money in it. So it's shame. Yeah. Well so if you what

59:46

does the EBITDA stand for

59:50

again? Earnings

59:50

will reward interest taxes,

59:53

depreciation, and amortization. Sometimes they

59:55

do like EBIT, or

59:58

some variation of profit. It's

59:59

just profit. Surely you could get

1:00:02

all those letters and move them around and make

1:00:04

it into an

1:00:06

actual word. I

1:00:06

don't think so. Bated. Actually, I just

1:00:08

did it. Yeah.

1:00:08

Yeah. They bated. But it took it

1:00:11

took seconds. Yeah. Yeah. They wouldn't

1:00:13

they wouldn't be the same thing. would

1:00:15

mean the same You should go monkey

1:00:18

rehab. But so

1:00:20

if you make if you spend all those money

1:00:22

and then you made your

1:00:23

but IPO, you offered it. But it would be embarrassing

1:00:26

if you made your company a public and then nobody

1:00:28

bought it. Right? That's that's a problem. Well, not

1:00:30

only

1:00:30

would be embarrassing, but it would

1:00:32

probably

1:00:32

be very costly. Yeah. Yeah. Yeah. My company's got bottlenecking. I

1:00:34

was like, yeah. We're good. Oh, yeah. We're

1:00:37

like, yeah.

1:00:37

No. What are famous companies

1:00:39

that have just

1:00:42

launched and then just gone

1:00:43

dog shit. So I mean, we'll

1:00:44

talk about this during the

1:00:47

dot com crash.

1:00:49

Let's get to the stock market questions. We can go out

1:00:51

of order. You can talk about it right now. Sure. Oh,

1:00:53

really? You guys are just Yeah. We're Can you guys

1:00:55

know how to party? at least you

1:00:57

can keep track of it. Yeah. This is your

1:01:00

monkey rehab show. Nice

1:01:02

structure here. You can go to my rehab. Money

1:01:04

rehab. Yeah, man. This is

1:01:06

Monkey Rehabber stuff.

1:01:07

Yeah. So the dot com

1:01:09

bubble burst of two thousand. Those were

1:01:11

a lot

1:01:12

of companies. that were, like,

1:01:13

pets dot com or toys dot

1:01:16

com that totally went

1:01:18

bust. So

1:01:19

that's why the

1:01:22

bubble burst the dot com bubble

1:01:24

burst. toys dot com, so I imagine they sold toys.

1:01:26

That's not a bad entrance. And then Amazon

1:01:28

came along and we're like, we sold everything.

1:01:32

Oh, hey hey, Nicole. He's very forest right.

1:01:34

He hates Amazon so

1:01:35

much that he parks up

1:01:37

in a car. Right. This

1:01:39

is true. He packs up in a car with his dog,

1:01:41

brings snacks. No doubt he hasn't said he bought snacks, but

1:01:43

I know him. That that makes sense.

1:01:46

And and he sits there. He sits there with

1:01:48

his bag of twizzlers. and the

1:01:49

dog, and he had and a

1:01:52

notepad, and he and he marks down

1:01:54

all the internet. We got this wrong. We

1:01:56

said there was a pad No. It's a spreadsheet

1:01:58

that I made. What are you saying? It was supposed to be a

1:02:00

scientist. You'd leave me a

1:02:02

scientist. He didn't he didn't like all the

1:02:04

Amazon truck dropping down any street. You thought they should be missing parts of the city. be

1:02:06

going through a residential side story. So like an

1:02:08

old old stay off my lawn

1:02:11

type of guy. he fucking

1:02:14

parks up and counts the Amazon trucks and then

1:02:16

goes after the cops. Bit of a commercial

1:02:18

If you're not subscribed to our Patreon,

1:02:20

You can hear the full story on Patreon. Amazon, but I I talked

1:02:22

spoke to our the council the

1:02:25

the village of Atwa at at

1:02:27

Water Village Council, which I don't live there anymore. Yeah.

1:02:29

Now they're missing an

1:02:32

idiot. And they wanted and

1:02:34

the Amazon distribution center, they were like,

1:02:36

as they do everywhere else, they started taking over, like, this neighborhood using a lot of

1:02:39

the resources, including our neighborhood and doing a lot of

1:02:41

other shit. And since I used to be in

1:02:43

ringbio, just I used to collect

1:02:45

data. That's what I used to do. I didn't have a notepad.

1:02:47

I didn't have Snacks. I didn't have Snacks.

1:02:49

I didn't have a one hour minute.

1:02:52

No. Unless

1:02:54

Nicole's interested in data. She does not care

1:02:56

about it. You brought it on

1:02:59

Nicole's email. It kinda works. Okay.

1:03:02

He's there. They should the girls emailing their ex boyfriend. on a Jim

1:03:05

Jeffries podcast. Yeah. Busted. Look,

1:03:07

he's made it now. That's

1:03:11

right. Let's get back into it. What does a bull market

1:03:13

mean? And a bear

1:03:16

market mean? Yeah.

1:03:18

That's right. Now we were doing this dot com crash. Oh, yeah. I'm sorry. They

1:03:20

were shitty companies that went by the wayside. They shitty

1:03:23

companies that went by the wayside.

1:03:26

That was the whole story. Oh, that's the whole story. Can you can you

1:03:28

can you ask one second? Can I stop

1:03:30

It's like web van dot com. Oh,

1:03:33

what's web van? I like

1:03:35

That's where magic is for a set

1:03:37

to go. That's where Spider

1:03:40

Man drives around when he's sick of

1:03:42

swinging to

1:03:44

the webbing. And then I

1:03:46

I

1:03:46

guess we could say since we we

1:03:48

touched on the other major crashes and there was

1:03:50

a great depression, obviously, and Yeah.

1:03:52

So that was the Wall Street crash of

1:03:54

nineteen twenty nine or

1:03:56

that you also alluded to the

1:03:59

eighties, Black

1:03:59

Monday crash of nineteen

1:04:02

eighty seven. That's what it says. There

1:04:04

was the panic of nineteen o

1:04:06

seven. The

1:04:06

dot com bubble burst of

1:04:08

two thousand, a subprime mortgage crisis of

1:04:11

0708

1:04:11

the COVID

1:04:13

crash of twenty

1:04:15

twenty. And

1:04:16

then there was, like, some Asia

1:04:18

bubble bursts in the nineties. The

1:04:20

COVID crash always involved.

1:04:22

That didn't seem so bad. The COVID

1:04:24

crash went down, went back up again pretty

1:04:26

quick. wasn't like the end of the world,

1:04:28

the COVID one. Well, that's what happens with the markets.

1:04:30

That's the thing, like So why were those people

1:04:32

so depressed and the great depression? If there was such

1:04:35

if it went down, it was gonna go can

1:04:37

anger, man. Why don't you just grab one of you? headlines and go

1:04:39

cheer up. Just wait

1:04:42

it out. It's

1:04:44

a long term thing.

1:04:46

Stop wearing so much brown,

1:04:48

unprecedented. Yeah.

1:04:50

Yeah. What

1:04:52

a panic about seven? In the history of

1:04:54

the United States, we've never not

1:04:56

recovered from a single recession.

1:04:59

or

1:04:59

depression in US

1:05:01

history. So, you know, I get a lot

1:05:03

of slips into my DM's. Like, these are the

1:05:05

fun sexy kind of DM slips I get.

1:05:08

very jealous. And We're about to

1:05:09

get some bad ones now. You've got it.

1:05:11

What did you just you

1:05:14

just ruined your weekend. All made

1:05:16

it awesome. Definitely

1:05:18

one of

1:05:19

the two. So,

1:05:22

yeah, people ask me, like, should I sell?

1:05:24

So when like COVID

1:05:26

crash was happening.

1:05:28

Should I sell everything and to

1:05:30

do it? Because it's kinda like group think and you

1:05:32

think it's never gonna come back, but it

1:05:34

does. What

1:05:35

does a bull market mean and a bear market mean?

1:05:38

Jim didn't have this right. Right,

1:05:39

David. The bear market is large

1:05:42

hairy homeschooled.

1:05:44

and the bull market is large homosexual.

1:05:48

It's not it's not it's not all homosexual

1:05:51

based. What happened? So

1:05:54

bowls

1:05:54

Think of like bowls charging ahead.

1:05:57

So bowl markets are good, that's

1:05:59

when the market is up. So

1:06:02

the most common definition of

1:06:04

a bull market is when

1:06:06

stock prices are

1:06:07

twenty percent above their recent

1:06:09

lows.

1:06:09

And then the bear market, if you kinda like have this

1:06:12

visualization of

1:06:12

the bear, hibernating, bear markets are

1:06:14

bad. And so it would be the flip

1:06:17

side when stocks are

1:06:19

below,

1:06:19

like, down

1:06:21

twenty percent from

1:06:23

more

1:06:23

recent. So are we in a

1:06:25

bear market right now? Yes. Okay.

1:06:27

Now bull markets are why don't you call it monkey market

1:06:30

because they

1:06:32

they climb?

1:06:33

Wow. Yeah. No.

1:06:34

That's good. Right.

1:06:36

the

1:06:40

Yeah. Please

1:06:42

please clip that up for the for, like, a yeah.

1:06:44

You know what I mean? we have the stock. You know what

1:06:46

I mean? Yeah. Always confuse me about the bear in

1:06:48

the blue. It's like, a bear is still aggressive though.

1:06:51

I was thinking of a bear.

1:06:51

It's like, if you see a bear, you it could

1:06:54

kill you. And you're and they're they're sleeping. Yeah.

1:06:56

That makes more sense. But Yeah. But you can also

1:06:58

Bolton can also think of it as bear,

1:07:01

BARE and your bank account It's hard. It's hard. It's hard. It's hard. It's hard.

1:07:03

Hard. Hard. Hard. Hard. Hard. Hard. Hard. Hard. Hard. Hard. Hard.

1:07:05

Hard. Hard. Yeah. I like it. What

1:07:07

are the big rock market is

1:07:09

when the market's dead. Yep.

1:07:12

What are what

1:07:13

are stock options? What are

1:07:15

stock options? Jim, I don't

1:07:17

remember

1:07:18

what you said. for this. I'm sure you

1:07:20

said -- No. It was a monopoly reference.

1:07:24

Never mind. -- I do a lot of

1:07:26

scrabble references. I don't give you Jim's

1:07:28

answer, you don't even need

1:07:30

it. I had nothing to do with it. Yeah. It it

1:07:32

could have

1:07:32

been farther from call options or

1:07:35

put options. So options give investors

1:07:38

the right to buy or

1:07:40

sell at a later

1:07:44

date. And at agreed upon price. So there are

1:07:46

two types of options, put

1:07:48

options, which essentially bet

1:07:50

that a stock

1:07:52

is gonna fall

1:07:53

or call options, which is

1:07:55

the bet that the stock is gonna

1:07:57

rise. So call options give

1:07:59

you the right but not the obligation necessarily

1:08:02

to buy something at a

1:08:04

stated price within a certain

1:08:05

time later

1:08:08

on. And

1:08:08

then put options are the opposite. So they give you

1:08:10

the right to sell an

1:08:12

asset versus buy the asset at some sort

1:08:14

of price within some sort of time.

1:08:16

and i'm sort it So

1:08:18

if you were talking to so people

1:08:20

who who are still listening to this podcast

1:08:22

now, these are people who are like

1:08:24

me who don't quite know what the stock

1:08:26

market is. So if if you were talking to a

1:08:28

young person or even an old person who was thinking of investing for

1:08:30

the first time in the stock market, what would

1:08:35

you give them, not like a stock tip, but like, you know, be conservative

1:08:37

in this field or whatever. What would

1:08:40

be someone entering into the

1:08:42

stock market? What would you tell

1:08:44

them? I would

1:08:45

say start now because you take

1:08:46

advantage of this beautiful amazing force of

1:08:48

compound interest, which has typically

1:08:51

been used against us. with

1:08:53

credit card debt. We've seen how that

1:08:55

can snowball out of control. Right? So what

1:08:58

the stock market does or what investing does

1:09:00

is take that very same force and

1:09:02

it you use it in your favor to make your money grow for you, so literally making

1:09:04

money while you're sleeping. And

1:09:06

you wanna at least make

1:09:10

three

1:09:10

percent because typically over

1:09:12

time, all inflation is really high

1:09:14

right now. It's three percent historically. So

1:09:17

at least you wanna make that.

1:09:19

Otherwise, losing money because your money is gonna

1:09:21

buy less things tomorrow than it

1:09:23

did yesterday,

1:09:24

which

1:09:26

is what essentially inflation. Do you consider the stock market

1:09:29

a big gambling?

1:09:30

I don't consider

1:09:32

it gambling in the way

1:09:34

that people say it because I

1:09:36

would suggest to any person

1:09:38

just starting out, young person

1:09:40

that you mentioned or anyone,

1:09:43

you're never young as you are today. Right? So today is this go to day is that a lot

1:09:45

of people say they're too old to start. They don't

1:09:47

have enough money to start. That's bullshit.

1:09:49

Those are just stories

1:09:51

you tell I would not buy individual

1:09:53

stocks though. If I'm starting out, I would buy index funds and

1:09:56

chill. Mhmm.

1:09:57

What does

1:09:59

short selling

1:09:59

mean? I do have

1:10:01

a mug that says index funds

1:10:03

and chill.

1:10:03

Alright. I have

1:10:06

index funds and I'm chillin. Yeah. I'm paying I

1:10:08

always remember minded of this all the

1:10:10

time. I'm sitting around with these index

1:10:12

funds. Yeah. Yeah. I don't even

1:10:14

know. This is still yeah. Okay.

1:10:17

What does short selling mean? No. I'll finally know from all the movies I've

1:10:19

seen. Yeah. So this was like the whole GameStop

1:10:21

thing.

1:10:24

So short selling, essentially, if you're short something, you think it's

1:10:26

gonna go in the pooper, you think it's gonna go

1:10:28

down. So you're

1:10:31

shorting something instead of The

1:10:33

opposite of short on Wall Street is not tall.

1:10:35

It's long. So going long something is is just buying it

1:10:37

outright and you think that

1:10:39

it's gonna go up. in

1:10:42

the future. So if you buy Apple or more of Apple than you already have because

1:10:43

you own so much, a little bit

1:10:46

Apple.

1:10:46

If they drop back

1:10:51

and me fight. I know. You think it's

1:10:53

gonna go up.

1:10:53

Right? And then but if you short

1:10:55

it, you think

1:10:57

it's gonna go down. But shorting involves

1:10:59

borrowing it at a price

1:11:02

you think it's gonna

1:11:04

fall below from

1:11:06

like a brokerage. So it

1:11:09

would be

1:11:10

like profiting if I said, hey, Forrest. Let

1:11:13

me let me

1:11:15

borrow your car. and

1:11:18

then let me give it back to you in

1:11:21

a year

1:11:21

or give it. Right? So

1:11:23

if I took your

1:11:25

car and in that year, I

1:11:27

sold it And

1:11:27

then after that year, it went down

1:11:29

in price. So then I bought it at

1:11:32

a lower price and

1:11:34

I pocketed that money. Mhmm.

1:11:36

Then I would have

1:11:38

essentially been shorting the stock because I would have said or bought an iPhone. If I said, hey, let me borrow

1:11:40

your iPhone,

1:11:40

and then I'll give it back to you

1:11:42

in a year, and I'll buy it for

1:11:47

you

1:11:47

know, less later because it's gonna go

1:11:49

down in price. So how do you do that in

1:11:51

the app?

1:11:51

So what I told myself?

1:11:53

How do you buy it for then sell it in

1:11:55

the shorter who's offering the loan me the car.

1:11:57

Is that illegal, though? You know, that's a forest

1:11:59

car?

1:11:59

It's not illegal. I and,

1:12:02

again, I really don't recommend this. to

1:12:04

to any newbie investors. But, yeah,

1:12:07

you essentially do it

1:12:10

from whatever broke So between and brokerage. A

1:12:12

brokerage is, you know, where you

1:12:14

buy and sell securities, which

1:12:16

you

1:12:17

talked about before. So

1:12:19

that would be like, Charles Schwab or e

1:12:21

trade or Fidelity or Vanguard compared to, you know, the the regular banks

1:12:23

like Bank of America

1:12:24

and

1:12:26

whatnot. How do you take yourself against the Bernie Madoff or an

1:12:28

Enron type of situation. Like, if you

1:12:30

have a person, every time I've

1:12:32

had someone who dealt stocks

1:12:35

for me, I'm like, They're just sending me

1:12:37

bits of paper with numbers on it. Like, how how do I

1:12:39

know categorically that those numbers are correct

1:12:41

that I'm not being

1:12:44

screwed over? So the secret on

1:12:45

Wall Street is that a lot

1:12:47

of managers will tell you

1:12:50

they can beat the market.

1:12:52

And very few fund managers actually

1:12:54

do, which is why my recommendation is typically to buy

1:12:59

low cost S and P five hundred

1:13:01

index funds. So that would be through, like, an ETF, which is an exchange

1:13:03

traded fund of the S and P five hundred because

1:13:06

when they're beating the market. Remember we talked about this

1:13:08

earlier that the S and V five hundred

1:13:10

is kind of the proxy for the

1:13:12

market. So I would just buy the

1:13:15

market if it's really hard to

1:13:17

beat the market. But then people

1:13:19

want this get rich quick thing, so they buy you know,

1:13:20

salespeople that

1:13:22

can tell them they're

1:13:25

gonna do better than that. She's not typically Do

1:13:27

you ever buy stupid shit in the same way that you can

1:13:28

find like lung

1:13:31

cancer doctors who smoke?

1:13:33

Mhmm. You know what I

1:13:34

mean? But you know what I mean? You know what I mean? You know

1:13:37

what I mean? Like,

1:13:39

if if you ever, you

1:13:42

ever buy stupid shit? You think

1:13:44

yourself? I hope the people at monkey

1:13:46

matters don't know about this. Yeah. I

1:13:48

mean, TVD.

1:13:50

Like,

1:13:51

some of the stupid shit. We don't know

1:13:53

who stupid shit when I actually sell it. The

1:13:55

only two days that matter the day that

1:13:57

you buy and the day you sell something

1:13:59

and everything

1:13:59

in between. just the noise. So,

1:14:01

yeah, have I done stupid stupid shit? Yeah. In all of my books I talk about,

1:14:03

all the ways I messed up with my

1:14:06

financial

1:14:06

life and got it

1:14:08

to dead. I got out of it and

1:14:10

said

1:14:10

stupid things and did stupid things. When Was was buying a Yasilpig cookie card for a

1:14:13

hundred dollars a

1:14:16

bad investment? Oh,

1:14:16

no. Did you? Did you? No. I

1:14:18

thought he was gonna be the shit. Yeah.

1:14:21

Now he's now he's playing in the Mexican league, and

1:14:23

I still look at that card, like, it'll

1:14:26

come back. He's coming back. What

1:14:28

organization

1:14:28

regulates the stock

1:14:31

market? Is it NASDAQ

1:14:33

Jesus. No. It is not NASDAQ Jesus.

1:14:34

Although that sounds awesome. It's the

1:14:37

SEC, which is not the

1:14:39

Southeastern Conference, but the carried

1:14:42

with the next

1:14:43

girlfriend. XBC Yeah. I have an ex girlfriend.

1:14:45

She is a FINRA attorney. They're all

1:14:47

like Yeah. That's just

1:14:49

sounds like She knows how to Party.

1:14:51

Oh, that actually does. But

1:14:53

but yeah. I just I

1:14:56

But FINRA FINRA

1:14:58

also, it has

1:15:00

oversight.

1:15:00

in other kinds of markets, like derivatives

1:15:02

markets and things like that. Yeah. I know about that a little. So I do know something

1:15:04

just

1:15:07

because Yes. Yeah. When I was dating her, she

1:15:09

was taking she was taking the bar. And now I know what she does, and now I I kinda know

1:15:11

what she

1:15:12

does. I invested

1:15:14

in a lot of cocaine

1:15:16

back early on in the day trying to prop the

1:15:18

market up in the hope that it become legal like we did. Will that happen?

1:15:22

Well, your investment

1:15:24

pay off. Yeah. because I yeah.

1:15:27

It's the only reason I'm not. No. You

1:15:29

don't have any reason I'm not the investors.

1:15:31

So the only reason measurements.

1:15:33

Well, there there is

1:15:34

a big, you know, market for

1:15:40

psychedelics and companies that

1:15:42

are doing psychedelics or therapeutic services, especially, like,

1:15:47

in Canada, there's I think a publicly

1:15:50

traded company that does that and Sure. You know,

1:15:52

obviously, yeah, mushrooms

1:15:52

and MDMA and and all of that.

1:15:55

So if you think that they

1:15:57

don't i think that the United States

1:15:59

is gonna go in

1:15:59

that direction than that. I think we

1:16:01

should do that. Yeah. I'm starting ketamine therapies.

1:16:04

Let's invite let's invite let's invite

1:16:06

let's invite Let's invite let's invite

1:16:08

out of a pool of all of our money

1:16:10

together. I like some old, you know, people who have a lot of pool -- Yeah. -- into some mushrooms and

1:16:12

get mushroom rich together. Yeah.

1:16:15

Yeah. And I get

1:16:17

No. Okay.

1:16:18

Okay. Alright. Find us a thousand bucks jacket out of the budget of the podcast, and we'll put it into mushrooms. Yeah. mushrooms, and get

1:16:20

them in. They got it.

1:16:22

Figured it in the mushroom index.

1:16:24

Okay.

1:16:27

What is arbitrage trading? And it's I

1:16:29

would be short ketamine. I had a terrible ketamine

1:16:31

experience, but this is for another time. No. No.

1:16:33

No. No. No. It was a therapy or just

1:16:35

at a club. Yeah. It was therapy. Oh,

1:16:37

I did all of it. Was the COVID? Was the COVID

1:16:40

cold therapy? That's

1:16:43

you got a bad name. I've only done it, like, with friends

1:16:45

and I don't nightclub. I I tell you what ketamine

1:16:47

is, I did it once with a whole

1:16:49

heap of friends. And one one of

1:16:51

the friends is very,

1:16:52

very famous now, but he wasn't

1:16:54

back then. Anyway, so we did get a mean, Joe Biden. And I remember I

1:17:00

remember, like, seeing everyone passed out on the

1:17:02

ground in this living room, it's up. And then you're like, alright. It's

1:17:03

like it relaxes you.

1:17:07

It's not It's like it's for horses. It makes you feel like you're the

1:17:09

tin man. That's a substitute. Like you're rusted.

1:17:11

Like you're a rusty metallic

1:17:14

horse. That's like I'd like to move and I'm putting every bit of

1:17:17

energy into it, but this is just causing

1:17:19

me pain, delay, still frustrating drug because

1:17:21

I mean, it just just mushrooms.

1:17:23

Let's just invest in mushrooms. Yeah. I had a

1:17:25

I had a party in my at this house once, and I come in my

1:17:27

room, there's always people spread out on the forego. What's going on there? We

1:17:30

all

1:17:31

did k. Why? Oh,

1:17:32

no. I don't remember. We'll

1:17:34

just do mushrooms, guys. These these house smells like Jeffrey Dahma's apartment.

1:17:38

How do you know what that sounds like? I asked Jim what

1:17:40

is arbitrage trading? He said, I don't

1:17:42

know for a shut up. That's what

1:17:44

I'm

1:17:44

saying. That's what I'm saying. Stand by

1:17:47

my heads up. Okay. Today.

1:17:48

that's funny I

1:17:49

don't know for it. It's shut

1:17:51

up. It's so nice. you. arbitrage is

1:17:54

exploiting

1:17:57

little differences in prices to make

1:17:59

a

1:17:59

profit. So

1:18:04

if there's like a market inefficiency, let's say,

1:18:06

you know, the mushroom company is

1:18:07

trading for twenty

1:18:09

dollars on the New York Stock Exchange. And

1:18:11

at the very same time, it's trading

1:18:14

for twenty five dollars.

1:18:16

I'm making this up,

1:18:18

obviously, on the London Stock

1:18:20

Exchange, then you could buy the stock

1:18:22

on the New York Stock Exchange for twenty bucks and immediately sell the same mushroom stock

1:18:25

on the London

1:18:28

Stock Exchange change, let's

1:18:28

say, for twenty five dollars, and then you would earn that

1:18:30

profit of five dollars, which would be the arbitrage. Alright. What happens if a company

1:18:33

decides it doesn't wanna be in the

1:18:35

stock market, anyone? Is it pay

1:18:37

out its people and call it a day? Or what happens then? You could buy back you could buy back your

1:18:39

shirts. Or you could go

1:18:41

bankrupt and

1:18:43

Yeah. Yeah. Well, look we

1:18:46

got all that right now. If a company goes bankrupt, does

1:18:48

that mean that I've lost all these shares if

1:18:50

they just call it a quits? Yeah.

1:18:52

because I got a lot of shares in Prince

1:18:54

Andrew right now. Oh my god. Okay. Well,

1:18:56

we've answered

1:18:56

all the other questions. We skipped around. We

1:18:59

got all the other questions. So now

1:19:01

is that part of the show called dinner party

1:19:03

facts. We ask our guests to give us some fact obscure

1:19:05

interesting that our audience can use some press people, like

1:19:07

at a dinner party a

1:19:09

bar or something. What do you got for us?

1:19:11

Nicole? So

1:19:12

we've alluded to this before our

1:19:14

friend Warren Buffet. While he does live

1:19:16

in Omaha, he is so considered one

1:19:18

of the greatest in serve our time. He

1:19:20

put these financial instructions in

1:19:22

his own will for his

1:19:24

wife, which I always think is

1:19:26

really interesting, and it's some of the advice that I've already

1:19:28

given you, invest ninety percent

1:19:30

of the money in very

1:19:32

low cost SMB five hundred

1:19:34

index funds, like Vanguard index funds,

1:19:37

which is really interesting because, like I said before, he

1:19:39

knows that it's hard to beat the market, and

1:19:40

so that's what he's doing with his

1:19:42

own money and telling his wife to

1:19:46

do. Oh, so that's why you were Jim, that was a

1:19:48

question that you asked. Like, if he dies, then his

1:19:50

con company's worthless. But it won't be

1:19:53

worthless because he'll all his money will

1:19:55

be. Or he won't be worth I don't know.

1:19:56

He's wife's getting it. Yes.

1:19:58

His wife is gonna

1:19:59

get. But, you know He's

1:20:02

two

1:20:02

wives for a while the knee. was

1:20:04

rocking over too, I mean. I saw the documentary. It wasn't

1:20:06

his wife. It was his neighbor. It was a non sexual relationship. She just like He's married to her now. Oh, is

1:20:09

he? That's what he's married to.

1:20:11

He's otherwise passed away. Okay. She

1:20:14

moved to San Francisco, but for a while, he had the

1:20:16

two wives going on here. This is a woman who

1:20:18

worked in a diner. I'm all for the

1:20:21

buffet man. Yeah.

1:20:21

Yeah. Good on your mate. Okay. For

1:20:23

the company, no. I

1:20:24

don't think that when our

1:20:27

friend Warren

1:20:27

dies that it's gonna

1:20:30

go from four hundred and twenty nine

1:20:32

thousand dollars to one

1:20:34

thousand dollars. There's definitely

1:20:36

a whole, like, demon succession

1:20:38

plan and all sorts of stuff. Alright. Well,

1:20:40

Nicole's podcast is called Money Rehab.

1:20:42

It's a daily podcast. Ten minutes or

1:20:45

less. Right? You break down. It says you

1:20:47

break down the days. Find afternoons

1:20:49

in ten minutes or less. Is

1:20:51

that true? I try. I try. But I I

1:20:53

sometimes go a little bit longer, but I try

1:20:55

to keep it simple.

1:20:58

Okay. Yeah. But for people that, like, that don't know about money

1:21:00

or I'm like, you know, listening. You guys always

1:21:02

like to know about money. No. No. No. I'm

1:21:04

gonna you got a new subscriber.

1:21:06

I'm gonna listen to you. Thanks. Yeah.

1:21:09

Okay. And, also, you can just We do interventions with

1:21:11

people too. So There is a woman

1:21:13

to cancel her wedding because

1:21:15

she can't afford You've lost

1:21:17

me. It's widespread at all. I'm subscribed. Twitter, you can find her

1:21:19

at Nicole Appen and IG. Same

1:21:22

thing. Nicole Appen and her

1:21:24

books. check

1:21:26

those out. Rich, bitch, boss bitch

1:21:28

becoming super woman and miss independent.

1:21:31

Thanks for

1:21:31

being here, Nicole.

1:21:33

Thanks,

1:21:33

guys. Yeah. Thanks. Thanks for thanks, Will. Thanks

1:21:35

for being here, Nicole. We had a wonderful time.

1:21:38

We all learned some things,

1:21:41

ladies and gentlemen, if you're ever at a a party

1:21:43

and someone walks up to

1:21:43

you and they go, oh, god,

1:21:47

me, Nasdaq's hurting. go,

1:21:48

well, I don't

1:21:51

know about that and walk away. What? Good night, Australia.

1:21:52

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