Welcome in folks. I hope you're ready to make some money. We got drama coming here in the market. Okay. Uh big week for earnings this week. At the top of this video, I want to tell you what stocks I think are going to uh let's just call it have the highest odds of probability of kind of exploding to the upside this week in regards to that. So, we'll speak about that at the beginning. Palanteer earnings do come out after the bell. I got $248,000 in the public account riding on those earnings. So, it should be a fun one. Okay. Then, I want to react to Warren Buffett. Obviously, the huge news came out this weekend that Warren Buffett will be stepping aside from Berkshire Hathway, Lisa's CEO, uh, starting the end of this year. So, I want to go ahead and, uh, react to a couple interesting clips that came out of this. One is Warren Buffett reveals that Birksher spent about $10 billion recently. U, my guess is on that April big uh, let's call it semi crash in the stock market. It was certainly a uh, major correction we had there, right? Then I want to react to this one. Warren Buffett on the recent, let's call it market volatility. From there, we're going to get into Tom Lee's uh perspective on the market. He went on CNBC this morning. So, looking forward to reacting to that. And then I wanted to finish up the video with this uh clip from Warren Buffett around his opinion on stocks and and things like that. Okay, so busy action-packed video. By the way, I appreciate everybody joining me. One thing, one thing only I need from you guys. Please smash that thumbs up button. And that's it. That's all I need from you guys, man. It's busy times. We got obviously Palanteer earnings coming out after the bell hymns. It's going to be crazy. So, we'll get into all that right now. But yeah, appreciate everybody smash that thumbs up and appreciate everybody subscribed to here the channel. Pin comment down there today will be if you're looking to apply, join private stock group, private wealth group, get access to my private Discord chat, all my best course curriculums, all that good stuff. Okay, all righty. So, here we go. Uh, Palanteer, how confident am I? Well, here's the deal. Okay, Palanteer's valuation obviously is extremely high. Everybody in the grandma knows that. Look at the trailing 12-month PE. Look at the forward P. Look at the 2-year forward P. Look at the price to sales ratio. Look at the forward price to sales ratio. Look at the two. Like there's no debating that, right? But here's the deal. Palanteer could go up even more if we see another acceleration in revenue growth and we take it to let's say if they took it to like 40% plus, you know, uh revenue growth, then we could talk about the stock could go up even more even though the valuation's so high. Right? Now on the flip side, if let's say revenue growth decelerates and management kind of expects growth to continue to decelerate, the stock could be in some trouble and could have a big downward move there. So that's what's going on there. Hims obviously will be very volatile after the bell as well. Now Celsius is one that if we can if we can start to feel confident that Celsius's brand is going to get back to growth um as this year ticks on and the Pepsi stuff is 100% done. not like kind of done like almost done like 100% for sure. It's not a factor anymore. I think Celsius stock could even explode to the upside. AMD is positioned really well. I think their numbers are going to be strong. I think their guidance is going to be strong. I think their conference call is going to be strong. And the great thing for AMD, lower valuation on this stock. Ford P's likely in the 20s right now. And additionally, so much negativity in the semiconductor space. So, if I'm thinking about a stock that's positioned pretty well, it's going to be AMD after the belt tomorrow. Other than that, we have Shopify report and they usually come through with good numbers. Um, you know, I don't really have a strong opinion on their stock price. Tradees, if Trade comes in with a good good numbers, good uh guidance in a strong conference call, you're going to see that stock probably up anywhere between 10 and 20% the next day. Uh, for Trade Desk, that's a really beaten down dog. Now, obviously, if their numbers are trash, then they're going to be in some trouble in regards to that. Okay. and uh Palanteer. Yeah, obviously I'll cover that for you guys either tonight or tomorrow in regards to everything Palunteer related. It's going to be busy times. Okay, let's get into some more involved in New York. He writes, "Today Bergkshire holds over $300 billion in cash and short-term investments, representing about 27% of total assets, a historically high figure compared to the 13% average over the last 25 years. This has also led Berkshire to effectively own nearly 5% of the entire US Treasury market. Beyond the need for liquidity to meet insurance obligations, is the decision to raise cash primarily a d-risking strategy in response to high market valuations? Good question. Or is it also a deliberate effort to position Birkshar's balance sheet for a smooth smoother leadership transition providing Greg Ael with maximum flexibility and a clean slate for future capital allocation decisions? And I will add one line from another shareholder, Mike Conway, who asks, "Are you encouraged you may see some fat pitches coming your way?" Yeah. So, this is obviously the the best question of the entire day, and this is the one that's on everybody's mind. Uh, no doubt about it. Well, I wouldn't do anything nearly so noble as to withhold investing myself just so that Greg could look good later on. By the way, before we go further here, so Warren Buffett, if you didn't hear, uh, he's stepping aside uh, you know, this at the end of this year as CEO. So end of an error obviously in regards to Warren Buffett, but um you know obviously legendary investing figure you know uh so important in my personal uh investing journey over this past 16 17 years and really you know one of the very first people if not the first person I ever heard that like when he spoke about the market like I like okay can I actually kind of start understanding this stuff right and I remember that back in like 0809 and so you know obviously means a lot to me and then you know Bergkshire Hathaway stock you know what about that. Here's the deal, okay? And I actually laid this out years ago. Birkshire Hathaway stock is actually going to go through a little bit of a a rough time shortterm. Not because the business is bad, but simply because Warren Buffett's leaving. The stock gets a premium because Warren Buffett. People will literally just buy Bergkshire Hathaway stock because they love Warren Buffett. They love his investing principles and they believe in Buffett. And you're seeing that today. The stock's down over 4%. That stock probably high probability would have been up today if unless Warren Buffett announced he was going to be leaving the company. And so you will see people over the next year or two sell out of Berkshire Hathaway stock because Warren Buffett's going bye-bye. And so that's just when you have such a legendary business figure leading a company like that, it goes through kind of a weird time after that business legend uh you know kind of departs from the company. And we've seen it across the board. You know it, you know, obviously you think about Teslan, Elon Musk, you could think about uh Steve Win at Win Resorts. You know, whenever when Steve Win was at Win Resorts, he always got like a premium. Like people would buy Winto stocks just because they felt so comfortable with Steve Win leaving the company, right? And when that legendary business figure doesn't lead the company anymore, you know, it's still a great company and it still can put up great numbers, but it won't ever get quite the premium on the stock price that it used to get essentially. Okay. So, that's just something important to keep in mind. Now, if he if he gets any edge, what I believe, I'll resent it. So, the uh the the amount of cash we have is we we we would spend well, we came pretty close to spending 10 billion not that long ago, for example, but we'd spend a h 100red billion. I mean, and and those decisions are not tough to make. uh when when something is offered that is that uh makes sense to us and that we understand and uh offers good value and where we don't worry about losing. And the the one problem with the investment business is that things don't come along in an orderly fashion and they never will. I mean, it isn't like every day. Uh, you know, the the long-term record is sensational, but that is not a product. And I've been in, let's see, I've had um 200 trading days times 80 years. Yeah, I've had at uh 16 million trading days. that it kind of uh uh I mean 16,000 trading days it it would be nice if every day you got four opportunities or something like that and you know you could and they were expected to be equally attractive you know if I if I was running a numbers racket you know every day would have the same expectancy of that I would keep 40% of whatever the handle was and so the only question would be is how much we transacted. But we're not running that kind of a business. And so we're running a business which is very very very opportunistic. And uh Charlie always thought I did too many things. Uh he thought if we did about five things in our lifetime, we we could we could uh we'd end up doing better than if we did 50. and and uh and that we never concentrated enough. Uh so that we would rather have if we've got 335 billion now in treasuries, we would rather have conditions that are developed where we would have like 50 billion or something like that. But that that just isn't the way the business works. And we have made a lot of money by not wanting to be fully invested at all times. And uh um we don't think it's improper actually for people who are passive investors just to make a few simple investments and sit with their life uh sit for their life and them. But we've made the decision to be in the business. So uh we think we can do a little better than that by behaving in a very irregular manner. But if you told me that I had to invest um well let's say that we have a roughly 40 billion a year coming in and we start with 335. If you told me I had to invest 50 billion every year till we got down to 50 billion, that would be the dumbest thing in the world to to invest in that manner. Things get extraordinarily attractive very occasionally. The long-term trend is up. Nobody knows. And uh I certainly don't know. Greg doesn't know. A doesn't know. Nobody knows what the market is going to do tomorrow, next week, next month. Nobody knows what business is going to do tomorrow, next week or next month. But they spend all their time talking about it because it's it's easy to talk about and uh but it it it has no value. Uh I've never found anybody I wanted to listen to on the subject. And uh the on the other hand, I found the leafing through things like that big Japanese book that I can't read anymore. Uh the uh that's a that's a treasure hunt. And every now and then you find something and occasionally, very occasionally, but it'll happen again that uh I don't know when it won't. It could be next week. It could be 5 years off, but it won't be 50 years off. He will have we will be bombarded with offerings that that uh we'll be glad we have the cash for and it'd be a lot more fun if it would happen tomorrow, but it's very unlikely it happened tomorrow. Very very unlikely it happened tomorrow. So basically Buffett's saying, you know, there's going to be a big crash eventually, right? Which uh that's just the way it works. like eventually you get crashes. You get a you get a major correction in the market every two years pretty much, right? You get a pullback in the market at least pretty much once a year. Major correction usually at least two, you know, twice a year, excuse me, every two years. You get a full-blown crash in the market usually every, you know, we can call five years or so, five to seven years, um where something dramatic happens and SP will go down 30 plus%. Uh for whatever reason. So that's kind of what he's alluding to there. uh some sort of big opportunity eventually that will come and they'll get to deploy their cash and you have too many good deals put in. I mean just the the main problem with Buffett, you know, in the his later years here is he so many companies have just passed him by because of his inability to really understand technology and what makes these tech companies special and things like that. so many new industries have boomed over the past, you know, 20 years or so that and unfortunately he just hasn't really been able to capitalize on. Um because I mean the gentleman is 95 years old now, right? Um I'm sure if we're all blessed enough to be 95 like whatever is going on in the world and the new companies like we're just it's going to be way over our heads by that particular time, right? And so you know Buffett's far far out of his prime now at this point in time. your your investing prime is really like 40 to 70. Like 40 years old to 70 years old is like I'm not even in my investing prime. I'm 35. I've been doing this for 16 17 years now, but I'm still not even actually in my investing prime. 40 years old to 70 years old is usually your investing prime because you've seen so much by that particular time, especially if you've been doing it a long time, right? I am shoot by the time I'm 40ome, I'll be I've already been doing this for 20 plus years at that particular time, right? So you're still able to understand kind of newer industries, newer companies, things like that. Um, still stay up todate, but also then you have the, you know, incredible amount of experience to see so many different cycles and whatnot, right? And so with Buffett, he's seen a million different cycles and that's great, but it's just, it's clear like, you know, so many of these companies are just passing them by uh year after year really over this past 15, 20 years. Um, and it doesn't mean you can't make money. there's still money to be made out there and a lot of the stocks he owns um and a lot of businesses they own. But let's be honest like you know if he was able to really understand a lot of tech companies like you know Bergkshire Hathaway you know we wouldn't be talking about this company at at a trillion dollar market cap or so we'd be talking about this as a five or 10 trillion market cap because amount of money he would have made in companies like Salesforce companies like Nvidia companies like AMD companies like Amazon over this past 1015 years you know Google Meta oh my gosh you know would have Obviously, incredible. Incredible. So, just something to kind of keep in mind there. All right, Warren Buffett on the recent market volatility first. And it did show that Bergkshire's cash pile expanded from the end of the last year, but the greatest market turmoil came in April. Martin Devine, a shareholder from Scotland who is attending the meeting today, wants to know, has the recent market volatility presented Bergkshire with opportunities? And Martin just wrote in an addendum in the last 40 minutes or so? uh pointing out that you mentioned Bergkshire almost invested $10 billion recently and wanting to know if you could talk more about that. Well then I can give you a good answer to the second part of which is no but 10 billion wouldn't have done that much you know that's the other side another side of it uh what has happened in the last uh 30 45 days 100 days whatever whatever you want to pick up whatever this uh this uh period has been is is is really nothing. there's been three times since we before he goes further there that that when by him just saying it's really nothing what that tells me right off the bat is this is not the big crash you know what what happened recently with the NASDAQ going down what was it 24% peaked to trough here recently right S&P 500 was down like 18 19% uh Russell 2000 peaked to trough was down like 25% or that's not the big one he's basically got all this money in treasuries for Right? And that's why he says it's really nothing because this is not like the big one. He believes eventually the big one's going to come, right? The big, you know, 50% crash, right? Something like that, like crazy dramatic 50 60% crash. Um, but that's not this, right? And so, you know, that's that kind of tells me a lot in itself. There's been three times since we acquired Berg that Berg has gone down 50%. uh in a fairly short period of time, three different times. It could very well be that he I just kind of put these pieces together. You know what? You know what stock he might be positioning Burkshere to buy when that big crash comes? Burkshere. I think I'm putting the pieces together here. He's got all this money on the sideline. He brings it up that Birksher crashed 50% or more three times. I think he wants to buy like do a ridiculous share buyback more than buy other stocks the more I'm thinking about it now. I think that's what he wants to do. And so I think he's hoping for the big crash at some point in time in the next few years, right? Birksher stock goes down 40 50 60% or whatever and they just load up and buy back you know let's say a trillion dollar market cap let's say it got cut in half to 500 billion and let's say at that time they had 400 billion in treasury my gosh you know they could they could buy back you know we can call it 50% 70% 80% 90% of the company's shares at that time, man. I think that's the master plan. Nothing was fundamentally wrong with the company at any time, but but this is not a huge move. Uh the Dow Jones average at 381 in September of 1929, it got down to 42. So that's by going from 100 uh to 11. Uh this is not this has not been a dramatic uh bare market or anything of the sort. I mean it uh it it the issue here is though folks, okay, the issue and it makes me think like maybe that 10 billion he was talking about spending recently that might have been on a share buyback. Um, the issue here is if they're loaded up on cash, let's say the next crash comes, I don't know, next year, the year after, the year after, let's say it's in the next three years at some point, this big huge crash comes, it happens. Okay, here's the problem. If let's say at that time they got $400 billion right in treasuries, Birkshar's stock price is not going to go down that dramatically. Like it'll go down at least a little bit, but I wouldn't be surprised if it significantly outperform the S&P 500. Let's say the S&P 500 crashed 40%. I wouldn't be surprised if Burkser stock price only went down 15 or 20%. even with a 40% S&P 500 because people will look and they say, "Oh my gosh, everything's crashing right now." And who's got all the money in the world? Burkshere. So like I I I'm starting like I'm starting to get Buffett's master plan, but if he's hoping to get like this crazy 50% sell off in Burks stock, I'm just not convinced that's going to happen. you know, if I did uh point it out if I've I've had 200 50 trading days a day, you know, for however many years I've been old enough to trade stocks that got 17 or 18,000 days. There's been plenty of periods that that uh uh just are dramatically different than this. I mean with the day I was born the Dow Jones was a 240 and my first that was August 30th 1930 and between that and the low it went from 240 to 41. I mean that's so people think that it made a really major change. it it didn't if if it gone up 15% instead of down 15% people think they take that with remarkable grace but uh but uh and if it makes a difference to you whether your stocks are down 15% or not you you're you need to get a somewhat different investment philosophy because the world is not going to adapt to you. You're going to have to adapt to the world. And you will see a period in the next certainly in the next 20 years, you'll see a period that that that will be what somebody in the market described one time as a hair curler compared to anything you've seen before. I mean, that just it just happens periodically. the world makes big big big mistakes and surprises happen in dramatic ways and the more sophisticated the system gets the more the surprises can be out of right field that's that's just that's part of the stock market and that's what makes it a good place to to focus your efforts if you got the proper temperament for it and a terrible place to get involved if if you get frightened by markets that decline and and get excited when stock markets go up. Yep. I don't mean to sound particularly critical. I mean, I know and people have emotions, but you got to check them at the door. Yep. When you invested 100% right on in regards to that, like no debate, right? Um, my only hope is whenever that massive crash comes, my only hope is I I see it ahead of time and I'm able to capitalize on it cuz it's gosh, there'll be a lot of money to be made in that that situation, right? Um, and I, you know, I got a little appetizer at the end of last year into the beginning of this year, right, with u, you know, some put options on some positions like Costco, Walmart, Toll Brothers that did uh, phenomenal, right? But you know those hedges against those stocks that was really just a little more on kind of valuation kind of you know expecting some market weakness that wasn't on like this is the big crash. Like if I felt like this was the big crash like we were going to have that big huge crash like I would have went way heavier in puts and I would have held my puts for way longer. I felt like this was kind of going to be something that was going to be a little more short-lived and so you know but my hope is whenever that day comes I see what's coming and then you know I'm able to capitalize on that of research and a lot of again Tom I don't know how you would characterize initially uh your take maybe a little bit early on the stabilization but then you you really pretty much nailed it a couple of weeks ago and and uh that was the low you said 5500 near-term on the S&P we got to that easily. Um, can you summarize what you've seen the past couple of weeks and what you think happened? I guess the the peak uh tariff uh angst was hit when you said it was hit and it could couldn't it come back still though? Um Joe, I I do think tariff fears can come back, but the stock market and I think the macro is in a better place today than it was on April 7th. Um, you know, one is I I think that the tariff expectations, even if uh we don't know what they end up looking like, are really much better than what we saw on April 2nd. Um, the second is that not the markets that lead stocks such as credit and the VIX and high yield are in a much better place. you know, high yield has recovered almost all the widening that happened since April 7th and the VIX is uh uninverting the term structure which basically means the market for volatility is calming down and then I think when we look at 2026 I think there is stuff to have some confidence about because uh the economy is holding up better at the moment and next year we can look forward to deregulation. I think the comparisons for earnings will be much better for next year. And then of course, if we get some tariff policies that lead to exports, we have upside to earnings growth. So all in all, I I think it it makes sense that the markets have recovered to this point. Um but you know, the bar for recovering to all-time highs is of course higher, but I I do think the riskreward is actually still positive here. Yeah, I was thinking that too. I mean, if this is 2018 we're in, then we'll be at all-time highs. um soon as in the next few months we'll be at all-time highs, right? And then blow through those all-time highs and then we'll have a massive crash this fall that that Yeah, we're you're probably thankful and and gratified that we're back to where we are, but just seems like there's some backing and filling uh that it's going to be happening before we uh break out to to new all-time highs. I'm do you think in with the tariff regime as it is some of the comments made by uh uh President Trump over the weekend that that you know why would if if these are temporary why would anyone build a plant here so that some of them might be permanent. I still think it's negotiating. I still I'm still not sure I take that at face value. But if it's if it's a permanent regime of tariffs, you still think we get to new highs in in 2025 or by 2026? Uh yes, I I think new highs are possible this year. I mean, one reason is, you know, companies have proven themselves to manage through shocks and I don't think investors give them enough credit. That happened with co companies survived. companies survived a bull whip effect on the economy. They survived a surge in inflation. They survived the Fed hiking at the fastest rate ever. So, I think this tariff shock, while it is shocking, I think earnings will probably outperform expectations. I mean, that'd be one thing. And then I think the things that were leading us down, whether it's Tesla or the Mag 7 or Bitcoin, they've they've begun to recover. In fact, as you know, Bitcoin's above its April 2nd level. So, Bitcoin, I think, is telling us the S&P should recover towards the 5,800 level in the near term, and that's that's still upside from here. Yeah, that was another, you know, they just showed Meta there. Meta should be at all-time highs right now, like on a constant currency basis. They just reported 19% revenue growth. The numbers are absolutely phenomenal out of Meta and the Ford P is like 20 and they've blown numbers out left and right. Like that stock should be 7 800 right now. Right now, not even a debate. Uh, so, you know, to get back to all time highs, it's not hard. Nvidia is going to come out and report a banger in a month from now, right? Their guidance is going to be great. Their numbers are going to be amazing. They're going to blow it out of the water. And so, then you're going to have had all the big techs other than Tesla report great numbers, right? Good guidance, good conference call. What do you got to go off of? You know, somebody like an Amazon's likely going to start to go through an revenue acceleration phase. So, Amazon should be hitting new all-time highs in the next few months. And then you're about to go into a Fed cut cycle, you know, with already, you know, extreme fear earlier this year, right? Earlier this year was in just a month ago. We go back a month ago, there was extreme fear in the market. The most fear we had seen in the market since the 2020 Rona shutdowns. Like crazy, right? One of your calls that it would catch up with with gold and it's it's uh it's lagged um in the past. I'm sure you guys watch that latest reaction video where I react to the one fund manager, right? He's talking about 95% cash he's been right recently. Dude, you know how many of those fund managers are out there that are just sitting on crazy cash right now that are kind of like, uh, what do I do? What do I do? What do I do? What do I do now? That are just like, you know, should I get back in the market? misses. What about some of your good calls or accurate calls, Tom, have been based on inflation and it's a real uh sort of a u a push and pull between what we're worried about with tariffs which would theoretically u you know restart inflation even if it I don't even know if it's I don't know if restart's the right word maybe there is some some still left uh in the pipeline but oil I just always think the the most important um factor in in inflation which ripples through everything is oil. And you look at oil and I just I think that could counteract a lot of of what we see from maybe even not only offset the tariff inflation but actually be more important. So what's the Fed do? Well, I agree with you Joe. I mean the two leading indicators for inflation should be like you said commodities and oil is telling us inflation is weaker and the labor market you know the jolts data shows the job market's not that strong so there's not really a wage pushing inflation and I think the inflation data recently shows inflation is tracking lower than expected. Yes I I'm 100% in agreement with Trump in regards to pound needs to start cutting. The Fed needs to start cutting. There's no debate like inflation is dead. Look at commodities. Like GSG is down like 6% in the past year. It's dead. Like, okay, you got some oneoff like tariff hits or something like that. That doesn't mean you're going to have systemic problems with inflation. That's not how it works. And so like like Fed needs to be cutting. And you got the economic data that looks weak enough to say, okay, it makes sense to be cutting interest rates. No debating that. You got the weakest housing market we've had since the great financial crisis. Like what more proof do you need? Like what more proof do you need? Uh you know you got to be cutting. Pleasure to be here. My name is Brevy Paneida. I was born in communist Albania but I'm now teaching economics in London, England. The wonderful writing of Warren and Charlie has significantly shaped my thinking and teaching. I thank you both very much for the many insights over the years. Warren has often written about the importance of Bergkshire's earning power to owners. My question is what was in your estimate bur's earning power in the latest fiscal year? It would be great if you can comment on any significant items that either increased or decreased the earning power as compared to reported net uh income measures for Bircher. Thank you. Yeah. Well, I think our underlying earning power was affected negatively here a while back by what happened in the utility field. I think that our earning power was not is not enlarged by any large acquisitions that come along but they come along periodically. So we will see something at some point that that uh well could be you know on the one that was 10 billion we would have added to earning power. I mean but why else would we do it? Uh uh so that's that's very uh situational and of course it depends so much on what the general market is doing and what interest rates are doing and what psychology is doing. We will make our best deals when people are the most pessimistic. You know that's been true ever since I was 1930. I was born in 1930 when I was born and things got much more attractive over the next two years and apparently I didn't do anything about it there. But uh you know that was the opportunity of a lifetime and and I blew it by you know worrying about the kid in the next crib or something. But uh uh over my lifetime, you know, I've had fabulous opportunities sometimes and and they happen because humans are human and uh I don't, you know, I'm fearful of all kinds of things. I don't want to try and, you know, be one of the Wendas and walk on a tiny strip between a couple of twin towers or something or whatever it may be. But I don't get I I I just I I don't get furful by things that that other people get are afraid of in in in the financial in a financial way that uh you know the idea that if Berg went let's say Berkshire went down 50%. Uh next week I would regard that as a fantastic opportunity and it wouldn't bother me in the least. and and most people aren't they just react differently. Uh and so it doesn't it's not that I don't have emotions but I don't have emotions about the prices of stocks. I mean I actually those decisions get all the way to my brain whereas emotions can get bogged down some other place. So uh uh for sure will increase his earning power over time as we retain money. I mean we we are doing things making decisions every day. People are working who are retaining earnings. We we will build the earning power but it won't be coming in in any even stream and it certainly won't be matched dollar for dollar on either the upside or the downside and market prices and but that's what makes it a good business. You know the investment business is that everything isn't properly appraised and and the seller other people get the better your opportunities get 100%. And that's the magic. That's the magic of of being an individual stock picker because when you're an individual stock picker, you you have thousands of uh potential stocks to buy, right? And at any given year, there's massive amount of stocks that are undervalued and overvalued, right? And so for you as a investor, as you get more and more experienced, it's going to be easier and easier for you to then identify, oh, this stock over here is undervalued. Oh, this stock over here is overvalued. I should not buy that one. I should buy this undervalued stock here. It's got a good business model. It's going to be even better in the future and it's undervalued today. Right? As you get more and more experience, you're going to be able to see more and more of those opportunities. Right? And that's the magic in being an individual stock picker. And then sometimes you're able to hold a stock that then gets way overvalued and you're able to take fabulous profits on it, especially if you bought it when, you know, a great example is Palanteer, right? Palanteer. My cost basis on my Palanteer shares is what is my cost basis on those? The public account? $7.39. $7.39 for Palunteer, right? It was ridiculously undervalued at $7. Like, whoever was selling me those shares, silly. Come on. What were you doing today? Palanteer, you can make a strong argument that it's overvalued, right? and I've already taken a good amount of profits on Palunteer and I'm sure if it goes to $200 a share or something like that, I'm sure I'll take more profits on it. And so that's the magic of being an individual stock picker. And you just have to watch, you have to make sure when you're buying stocks, you want to buy them like a basket of some of the best individual stocks. So you never see me just buying like one stock. You see me buying a basket of several different great investment opportunities. So let's say like recently, right? as in the past few months you've been seeing me load up on Nike which is very different than AMD which I've also been loading up on which I was loading up on Celsius right also was loading up on some wind resorts and like there's a basket of stocks very different stocks very different industries but you're going to get you know 5 10 great opportunities at a particular time and so as the weeks tick on as the months tick on and I'm buying buying buying right I'm able to buy these different investment opportunities that should you know bear great fruits as the year goes years go on Right? And that's the magic in being an individual stock picker. And you just don't get that opportunity as an index fund investor, right? Which, you know, individual stock picking is not for everybody. It's for the the very small percentage that love to research companies, look into companies. Uh they feel comfortable holding, you know, 10 or 20 stocks instead of holding 500 stocks or a,000 stocks or something like that, right? So, it's a different a whole different mentality. Not everybody's on this plane and that's fine, right? But for those of you guys that do enjoy that and you want to take things up to a much higher level, that's why I have the private group, right? And I have all those course curriculums to teach every you want to know there. And so they'll be pinned comment down there if you're looking to apply to join us in there. Much love as always. Appreciate Warren Buffett. Um, end of an error, man. But, uh, what a legend. Legend legend. and have a great day.