The Trillionaire Mindset - 6: All Time Highs

Episode Date: November 8, 2021

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We'll share it for just getting hammered this morning. We're off! Welcome! Episode 6. Episode 6. The Trillionaire Mindset. Hmm. I'm Ben. I'm a meal.

Thanks for tuning back in. Thanks for tuning back in. Thanks for tuning back in. We love you very much for doing it. Check the disclaimer in the description. That only applies to Ben, you can still sue me. Yeah, still sue him. He's more than millions. It's a thrill for me.

We got a lot to cover this week. So much. So much. So much. I think first off the, you were telling me that you had, oh well, number one, the Stanford thing is getting way out of control getting really bad we just it was a stupid joke yeah also i don't know if i told you someone uh it's it's out of hand on all sides someone sent in a video of uh to the child here instagram and they were following someone who had a uh

stand for business school backpack did you see it i didn't see that first there's a picture and it said do you want me to beat them up and then it was a video of They were following someone who had a Stanford Business School backpack. Did you see it? I didn't see that. First there was a picture and it said, do you want me to beat them up? And then it was a video of them following them and it was very uncomfortable. Don't beat anyone up. It's a joke. Don't beat anybody up.

It's a joke. Then we might actually get sued. Yeah, no, but it was it was scary. It was very visceral watching someone follow a stranger. Yeah. And this person had no idea. Yeah, no, but it was it was scary. It was very visceral watching so and follow a stranger Yeah, and this person had no idea. Yeah, well that there was some dumb joke on a podcast No, but it's it's out of hand on all sides. I got this I got this very scary Voice mail really I think I wonder how they got your phone number. Can we play it? Let me see Hey, I hope I got the right meal, the co-host of the Trillionaire Mindset. My name is William.

I'm the president of the Student Council at Stanford Business, and I just wanted to reach out and say, you're a worm. To both of you are worms. Me too? You're nothing. I see you. I see your little show, and it looks like nothing. It looks like worms. Me too. You're nothing. I see you. I see your little show and it looks like nothing. It looks like worms. A dried worm on the sidewalk. I see you. I wouldn't even give you my spit to bring you back to life because you know you could

sort of bring a dried worm. I wouldn't even give you my spit. So if y'all keep talking sweet over there, I'm chill in there, I'm going to have to come down there and wipe those little smiles off your little warm faces. And guess what, the smile is also your asshole because it's just the one thing. Wow. William, was it? Yeah. I'd like to see you come down to the studio and put your money where your mouth is.

Yeah. Where your asshole is, apparently. Let's see it, prove it. Cause you're the world. Proof how tough you are. Drive all the way, I don't know where Stanford is. Northern California. Yeah, is that? But they're in Stanford, California.

Is that really weird? No, I think it's in Palo Alto. Oh, well, get your rich butt down here, William. Billium. Billium? Yeah, what a dumb name. Yeah, so make up your mind. Bill, William. I regret the whole thing. Yeah, what a dumb name. Yeah, so make up your mind. Bill, William.

I regret the whole thing. I want it to go away. You want to settle the, you want to let the dust settle. I mean, I'm trying. Let's, we agree to not have anyone follow anyone. We should, you should arm wrestle, William. Or you'd probably win. We've all seen the picture of me on your shoulders.

We should, we should chicken fight. Chicken fight. Yes, that's a good idea. We'll chicken fight anyone. Yeah, alumni, staff. William, get on your dad's shoulders, because you'd be used to it, because I'm sure you're always on your daddy's shoulders.

Oh, yeah, that was a burn. I served it up. What are you gonna do about it? I'm just gonna come stop here. Yeah, so that's what. All right. Oh, hey, before we keep going, I wanted to give a quick shout out to Megan quickly. Hi, Megan

You're doing great. Who's Megan quickly? She's a she's a friend of the podcast nice. Hey, Megan And we we did an Instagram poll for you guys asking who you'd like us to have on his guests a lot of suggestions for your mom and These yes top top two were your mom and these nuts So thanks for reminding us that the internet is nightmare. Thank you. One person said Ben's dead dad, which was very funny. I actually got a kick out of that. But we also had a lot of very good suggestions.

Some serious ones. Yeah, that we're trying to make happen. We're working on it. We appreciate you doing all of the work for us. Yeah, so any and all ideas, just send them our way so we can take all the credit and- And we will see if we can do some kind of say aunts to get Ben's dad on.

Yeah, that'd be cool. That'd actually be really tight. If you finally got to talk to your dad again. If we did a Ouija board, it would just spell out F-A-R-T. I'd be like, ah, it's him. Oh boy, we want to remind you guys to leave a comment on this video. Smash that like, but- Smash the like.

Break your computer, quit your job, don't kill your parents, etc. Thumbs up it wherever you go. Yeah, uh, oh, also, there's been some confusion in the comments, and I will say this is another thing with the Stanford thing. We are being confusing because we, every week in the beginning, and I will say this is another thing with the Stanford thing. We are being confusing because every week in the beginning we go, yeah, this is not Spotify, Crush Stanford, and then inevitably halfway through we're looking at some chart. And you go, if you're listening, you gotta come to YouTube and watch. So do both.

Do both, or- You know what I do to juice the numbers? As soon as it comes out on Spotify, I hit play on my phone and then I mute it and I just let it play you're juicing our own number Oh, yeah, of course man, you got every little listen counts and then I did then I watch on YouTube and I leave negative comments You leave negative or are you the one that balance out all the hot activity? Speaking of negativity you got you remember Charlie monger. Yeah, he came billionaire freak. We were joking about him last week and now he's in the rules He's a this is very funny. He's a He's himself quote an amateur architect

So he he left He he wanted to give some money to UC Santa Barbara for For a dorm. I guess they are short on housing for students. And Charlie Munger said, I know what I'll do. I'll draw them up a little mega dorm. This thing is so kind of. But they can only take my money if they let me design a dorm.

It's gotta be in the house. It's gonna be in the house. Yeah, and it's gonna house 4,500 plus students. Yeah, so and it's crazy because house 4,500 plus students. Yeah. And it's crazy because I think the next biggest dorm is at the Naval Academy, which is 4,000 students. Wow. And it's multiple wings and it's got like 25 entrances and exits, right?

And this one's 4,500. It's all like one wing and it's got two entrances. It's got two entrances. Yeah. But that's not even the worst part. The worst part is that everyone's pissed because it's something like, it's something crazy. Like, 94% of the... Bedrooms.

Don't have windows. Yeah. And he's like, no, it's going to entice them to come out and socialize. And so the... Come out into the common areas where there are windows to socialize, right? But so the lead architect, or not the lead architect, I think he serves on like the design board or something. He resigned over it and he was like, I won't take part in this social

and psychological experiment. Probably very smart of him. I'm sure that there's gonna be all kinds of issues when that someone's smoking a joint and sets the whole thing up and- God forbid. Right. That's not gonna happen.

But God, Charlie Munger, you had your whole life. There's actually an idea. We can go to the article real quick. There's an insane quote from Munger himself. Yeah, it's actually like, Munger dismissed criticism about the amount of influence billionaires have on projects like the Megadorm telling Market Watch that he'd rather be a billionaire

and not be loved by everybody than not have any money. Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha Nothing, it's worth nothing. Now it's time for a little segment we call the crypto corner. BADDY! That's uh... I know we had a theme song for it, yeah, but that's pretty good. Did you hear about this Squid Game coin? I did, I bought, buy, bought big.

You bought big and the Squid Game coin? Oh man, what a disaster. Okay, so this thing, Squid Game coin, it's a, it's a, it's a, it's a piece of garbage. What do they call them? Oh junk no Scam no shit coin. Yeah, yes. Thank you This thing started at 135 a.m. It was $38 and hour later it was $90 and hour later it was 93 hour later it was $90, an hour later it was $93. Next hour it jumps to 434.

The next hour, $2800 per coin, and then five minutes later. How? In five minutes it went from 2856, 64, to 0.00079. It just, in a flash just went to zero just the rug fully pulled. So how does that happen in five minutes? I just need it's like clearly some group of people's gaming and they just dumped right

in the top. My assumption is that the creators of the coin just absolutely liquidated every last coin that they held and the bid was probably propped up artificially by another wallet or something and when they got what they came for they did it we got a great video of this guy who was like live trading as it happened we'll play for you here. Market cap is 2.168 trillion dollars. And now the mark, oh! Oh, we went to zero! Yeah!

So the mark, I just love that candle is that huge, huge green candle going up. And then in a second. Just one. Yeah, because it happened so quick. It happened so fast. So what have we learned here, Emil? Don't buy shit coin. Don't do that.

Also, I mean, so if you click the link, it's like, I was reading the BBC article and it's like, it's, Squid Game Crypt. Like, it makes it sound a bit like Squid Game cryptocurrency rockets in first few days of trading and then like when you scroll down It's like you know, they're just kind of talking about it as it's like gamers have created an online version of the program for which you need squid cryptocurrency to play and it's like this is one of the pitfalls

Right because they don't really know yeah because I mean they're like this is a fun little story And then people are like yeah, let me get into fucking shit coin. Yeah And it's all I mean this is one of the this is a fun little story. And then people are like, yeah, let me get into fucking shit coin. Yeah. And it's all, I mean, this is one of the things you gotta be careful about and try to exercise some kind of critical thinking skills. And as soon as you start to feel yourself get that greed, that fomo, it's probably wise to not do anything about it and like sit on, literally sit on your hands if you need to.

Because yeah, watching it go from 30 bucks to $2,800 I'm sure there were plenty of times where you probably would have been pulling out your hair but oh boy to have a the rug pulled out from you like that. I mean whoever the guy who held to 2800 wait there was a guy who didn't know because when they started selling at 2800 oh right the like I mean it went up to 400 I would have fucking sold that I mean this guys Yeah, the hardest part in trading is selling the the two hardest things in my experience are selling and cutting your losses Which is gonna be something that I'm gonna dive into next but Just speaking of Squidcoin

Coin Squidcoin Squid Gamecoin Netflix just launched they're finally doing the games thing and they just launched It's only for adult accounts. It's only on Android and only on mobile and there's only five games, but you got to start somewhere Too bad I don't have an Android because I'm not a freaking loser. I Mean come on What am I trying not to get laid geez the week. Come on, don't do our Android listeners like that. Yeah, we love you guys. Beat boop at the Android. I don't know what the hell.

Ethereum and Solane hit all time highs, Bitcoin's like nearing all time highs. Proud of you. Everything's nuts. Everything is at all time highs. Everything is nuts. It's truly insane. I mean, everywhere you look, there's signs of a bubble, but I mean that can go on

You're looking. I'm seeing the signs. What are the signs the bubbles? Yeah, they're everywhere Everywhere you gotta go to the doctor Excuse me, bubbles Let's see of that sheba you knew wallet had some movement the guy who bought the the person who had like had some movement, the guy who bought the person who had like $5 billion worth of Shiba moved like $2 billion worth around into other wallets. So they're out there, they're out locked out, they have the money, and it's insane, and I hope they give me some. What does that mean for Shibu now?

I have no idea. Yeah. I was reading a lot of theories that it's like oh, it's They're trying to make it look like there's a whole bunch of supply to try to make the price to I don't know all the stuff is a crapshoot One of the go over some of my trades for this week. I had some good trades that I'm proud of Yeah, I had some good ones and there's some lessons the first one. I played some game stop Call options the 200 strike. So let's go over that real fast. What does that mean?

The 200 strike call option. Good month, the 200 strike. Are you just gonna look at me, man? That means that I bought the 200s, meaning I want it to go at least to 200. Okay. And the premium that I paid for was, what was it like,

I don't know, three, can we go back to that real fast? I don't even remember what the L.I. paid for. I paid $4.76. I sold some at $9.65 and then some more at 1340. A really like- So you bought these at $4.76? Yeah. So technically, if I want to break even, that means I need it to go to $204..7.6 the price of the premium that I paid plus the strike price equals the break even point and then after that you can start making to my and then after that but if the if I bought the hill till nine yeah but I did that on like Monday excuse me oh and it expires on Friday yeah so the more time you've got like the sooner it makes a move, the more your premium

is going to get juiced. So we've got a chart here. And Spotify listeners, we're going to work on something where we can link out to, like, charts. But there's some good lessons here in this chart. So the first thing I want to call attention to is the higher lows. You see, I pointed that out at the bottom. There was the set of higher lows in August, and then again in October, like, that's a sign

that something's kind of building, right? Does that make sense? Are you putting these, I put those lines in there. Yeah, those black lines to show, all right, it put in a higher low. That shows that there's not being lower lows. Lower lows would be bad. It means the downtrend is happening. But

this set of higher lows, and then it goes, you see that one big pop day right in the middle there? And all the price action thereafter has stayed in the body of that one big candle. You see what I'm talking about? Right. Where the two lines meet, you got this huge candle. Yeah. And toward the end end of August 23rd. So that shows the price is consolidating and you can draw a trend line from the top of that all the way down. And then right in there, you've got the price

making that higher low and bouncing off of the 200 day moving average. The 200 day moving average is kind of like the long-term trend indicator that pretty much everybody uses. That shows like, all right, if it's up, the trend overall is up in the long-term. And if the price gets down there, you're gonna wanna see it hold above the 200 days.

So we had that. And just above it was two things. The 50-day moving average, which is the blue line, and then you had that trend line right there. So when it started to pop above that, you see I broke through the near term trend line in the 50 day, that's when I bought, it was at like 195, that's when I bought those $200 calls,

because I'm looking up and I'm like, all right, there were like four bucks, I'll play. I'll play, and then the next day, they popped, I sold them because the stock went above 200, the calls went up like they were triples, so I just took my money and I ran. And that's it. I was in and out in a day. And yeah, if I had held on one more day, they would have gone up to like 50, 60 bucks per

and it would have made more. Explain what you mean by the higher lows real quick the higher lows the price per share Didn't continue to make new lows if it kept going down That would be bad that would show that the trend is continuing downward the stock is gonna start breaking down But if it's putting in a it puts in a low and then it puts in another Low but it's higher than the previous one. Right. And then the next low is a higher one than that. And it's just kind of like stair stepping

upward and condensing into that channel. That takes a long time to set up. I mean, that was like three months. And that's where like waiting really comes into play. Because there wouldn't have been. Right. How long were you watching this? Were you watching this? I was like, I just saw people starting to talk about it. and that was another thing. Like, oh, GameStop is kind of setting up, and that's what people were referring to. A lot of people saw that same setup. Right. So, there was, and Bed Bath and Beyond had just reported earnings, I think, and they

shot up like 93% in a day. And Bed Bath and Beyond is in that same basket of stocks that did really well around the GameStop time. It was GameStop, AMC, Bed Bath and Beyond, Blackberry. So like when one kind of starts to move, they all can kind of move in tandem. So there was that one.

So you're not actually paying attention to GameStop anymore, you just started to start. No, I was just in it for a quick trade. Wait, but so, what? If you look at that candle with the yellow at the end, did it shoot all the way up to? It shot, that's good. Yeah, it shot all the way up to just under 260. So you left some money on the table? I did. I left some money on the table, but I'm okay with that on a stock like this where it's, you don't know what you're going to get.

I left a few grand on the table. Nothing compared to, oh, and so I've got another chart here for overstock, which is a symbol OSTK. This one has a very similar kind of setup. Look how long this one took to set up. This is what I'm talking about with patients. And you can see, oh yeah, we're going all the way back. What is that? Yeah, that's August of 2020. That high was put in.

And then the next highest high was just a little bit lower in February of this year. And then it tried again. And it just was setting up. You see the series of higher lows? I mean, this is a little bit more. The low from the beginning of this year. So this bottom line.

Yeah. I put in these lines to show that. And when the stock starts to kind of get in this range, this narrowing range. Right, it's kind of easier to see what you're talking about. Yeah, and this one, right? Because it's not dipping quite as low as it was previously in December and November.

And especially if you look toward, we can't zoom in, but if you look toward this last August, that's a good chunk of higher lows. Just like the low, a newer one that the lower, a newer one that's even higher and the price is getting into this channel and then look what happens when it finally busts above. So I played some of those options, I didn't write them down for this, but I played like the 95 strike in the 100 strike for nice little profits.

And this one took a long time and this is a couple thousand bucks. But this is what I'm talking about where you wait for the fat pitch. Like this was a nice big fat pitch, a nice big meatball. And this time instead of a wet noodle, baby I had a big ol' bat, and I just went... You were like, Babe Ruth with like three different bats. Yeah, yeah. Calling your shot. So this is a great chart lesson here.

I mean, this is a nice bread and butter kind of setup that anyone can see, you know, but it can take time for it to set up because like back in July, you could have said the same thing, but then it was a fake out and it started to break above but then went back down

and it had to set up again for another few months. The next one was, oh, this is tragic for me. So what's the name of the company? The rent company. Avis. Yeah. It's shot up this week by over 100%. I don't know why. I don't know what happened, but the ticker symbol is fun. It's car, C-A-R. Maybe someone's got some info that they're gonna do a little hurt steal.

Never know. Yeah. I had 2,000 shares of this stock in March of 2020. I sold them for $9. How much do you buy them for? 56 cents. I bought them for like $8. I made like $2,500 on the trade.

2,000 shares. Okay. It hit a high of like $550. Wow, and you bought it this week. Yeah, and I had 2,000 shares. The profits, the profits I would have had on this thing is somewhere north of like 650. I don't even remember 700,000 dollars. I would have made shit. Guys, give them a second. That's a hard one. So there's the chart. And you can see that that just really hurts.

That just really hurts. See, but this is the, when I see this stuff, this reminds me, like, I've gambled a little bit and only lost, and now I can put a stay away from it. And it's like, this is truly the feel. Like, when we had the guy, we played the TikTok of the guy who was like, my Shiba would have been worth. My Shiba coin would have been worth $1 billion. Right, billions, whatever.

Yeah. It's these losses where you go, oh, you just need this one thing to happen. Like, who knows how long you would have held on. So like, yeah, I probably would have sold it a, you know, I would have sold it a hundred bucks, something. Right. Probably because why would I hold on?

But you would have been feeling that you lost out on 700K, which is so nice. Right, but because it was in my retirement account too, it would have been tax-free. Wow. Yeah. Well, if I lived to 70 or whenever I can touch it, but that's not gonna happen. So there was one idiot, absolute moron on Reddit. He posted on Wall Street bets.

He's shorted this stock. Maybe it was earnings, I guess it was earnings. Can you give a brief, I've seen some comments asking, what short was earnings. Can you give a brief short, I've seen some comments asking, what shorting is? Can you give a brief? All right, so there's, essentially, when you're doing stocks, you read their long, which means you think it's gonna go up or you're short,

which means you think it's gonna go down. And when you're long, there's two sides of the trade. You buy it and then you sell it, right? The buying is the opening part of the trade and the selling is the closing. It's one half of the circle. You gotta buy it and then you gotta sell it, right? The buying is the opening part of the trade, and the selling is the closing. It's one half of this circle. You got to buy it, and then you got to sell it. Shorting is just the opposite.

You got to sell it, and then you got to buy it. You sell it to start the trade, you buy it to close it. And I will use pudding again to exemplify this. Let's say I go over to your house, right? Yeah. And you got a fridge stock full of pudding mm-hmm You're a fiend man you got so much pudding you don't know what to do with it right Word spreads on the street there's people outside and they're

Flaming when we want pudding share the pudding Emil you self-fuck you free loaders. Yeah, well I see that and I'm like man Emil you got to sell some of this pudding and you're like mind your own business Ben yeah and go all right I'm gonna borrow some of this pudding out of your fridge and I'm gonna sell it, Emil, you gotta sell some of this pudding and you're like, mind your own business, Ben. And I go, all right, I'm gonna borrow some of this pudding out of your fridge and I'm gonna sell it to people because they are, the price is going up. It's like 10 bucks a pack and I know that it's only worth like five.

So I'm gonna borrow some from your fridge and I'm gonna sell it to people because I see an opportunity here. People are, people are, go, snap into the, they're going absolutely for pudding. They're buying up the putting, and then lo and behold, the next day, the price drops to five bucks.

Score. There's a problem though. I gotta restock your fridge, right? Yeah, you better. Because I borrowed your pudding. I gotta close the trade. I gotta buy the pudding back. So I go to the store,

and I buy just as much pudding as I just sold at five per pack. and I put it back in your fridge. You're happy. I'm happy because I just collected the difference. You can put all extra five bucks in the pudding. We'll talk trash about shorting but it is kind of an essential part of a functioning market because if you think a stock is going to go up, you can participate, right?

You buy it and it goes up. There has to be a mechanism to participating if you think a stock's gonna go down just as well. It's just like the opposite. You're selling something that you, when you're long, you're buying something that you don't yet own, you buy it and then you own it. When you're short, you're selling something

that you don't yet own and then you buy it back to close out the trade. Does that make sense? Yeah, yeah, you're just, I mean, people get caught up on the mechanism of it, like how do you borrow something that isn't yours? It's like, don't worry about that. The thing that you got to understand

is you're just, you're selling it first and then buying it back. The risk is, what if that price of putting shot to 100? Or 200 or 300? So you take my putting and you start selling it out. I have to replenish your fridge. Right. I think this can be pretty dangerous.

Yes, because again, if people start going crazy worldwide and it shoots to 200, I still have to buy it back. So your losses are potentially unlimited. If you make good on your short, no problem because you just buy it back at a lower price. So this dork, this huge idiot, shorted car. They borrowed shares that car is the ticker for it. Yes, car is the ticker. And this guy, his net loss is just under $170,000.

His net account value is negative 43,000. So I believe he owes his broker 43 grand because it went higher. It went over 100%. So that's the danger of shorting. He's down over 100%. He didn't hedge at all. So now here's a pop quiz. If you were short car, Emil, how might you use options to hedge yourself?

What would you buy? Puts. No, you'd buy calls correct. Fuck. It's okay. I have you buy? Puts. No. You buy calls correct. Fuck. It's okay. I have a 50-50 shot and that's what hurts the most. It's okay. So like if you were long car into earnings, what would you buy to hedge yourself?

But wait, I thought Puts are the ones that can help you hedge your bets. If it goes, if you're, yeah, I mean, calls and puts can hedge, you can hedge either way depending on the direction you're betting in. If you're betting it's gonna go down, you would hedge yourself against upside by buying calls because you would be participating in the upside at least. Right? No, this sucks, people are gonna see this.

So that way, this guy though lost this much money, I think he said, what does the title of it say? I lost my car short into earnings, life savings and some gone. Please, please, if you're out there and you're just getting into trading and you, and I'm like, what is he just

kind of have like a fucking debt collector after him forever? I mean, I don't know. I think TD Ameritrade, which is his broker, will probably, I don't know, garnish his wages. I don't know how they do this. But don't ever do something like that. Don't put all of your eggs in one basket like that. You are not savvy and sophisticated enough

to do trades like this. In this... All three bets is a dark place. It really is. The top comment the guy says, damn it, two days into no nut November and you show me with this, guess I'll try again next year.

Does that mean he's jerking off to it? Yeah, he's happy. And he's on Cody mode and is excited by someone else's loss. But this doesn't make me feel good. This one sucks. Like, don't, for the love of God, don't do that. And even if you are in a position where you really believe in something,

hedge yourself, buy some calls if you're short, buy some puts if you're long, do something. But, man, I hope this person's okay. I hope they're not, you know, get on to BetterHealth, BetterHealth.com slash Trill. You're gonna need to use that code, man, to save as much better help. BetterHealth. You're gonna need to go on, this guy's gonna need to go on BetterHealth.com slash Trill,

use that promo code to get discount, much needed discount. I had another trade that I was really happy with that I got filled on last week, didn't realize it. You got filled on? Yeah, I put in a bid. So when you do an options trade, just standard options trade, you do a buy to open. You remember I talked about half of the trade

is opening and closing. In options, I'm buying to open the position and then you sell to close it, right? So that's what when I wrote BTO up there, I bought to open two of the November 19th, so two weeks out, 900 strike calls on this MSTR for $10.50. So that's just a little over 2100 bucks.

I put in. What's MSTR? $2,100. I put it in. What's a MSTR? That's a lot of stuff. MSTR is called MicroStrategy. They were a boring company from the 90s and they decided to pivot exclusively to Bitcoin. They just used all their cash to just buy Bitcoin. And the stock is up for them.

Yeah, a ton. And the CEO is like this crazy laser eyes, dude. But I've forgotten that I had this and then microstrategy shot up and I sold, I ended up selling the other one today but I sold one call for 35 bucks, the other one for 30 which was nice. But it's got a similar little lesson here.

You got higher lows. Much higher lows, look at those fucking things. Much higher lows. Look at where it is. It's above both the 200 and the 50 day moving averages. It's shot up and then it kind of like consolidated into that little channel and Friday last week when it was around 725 that's when I bought the 900 strike calls. Now obviously I'm aiming really far ahead. I'm aiming for like 150 point move but I don't need that whole move

to happen because A I have time, I have two weeks. What did you buy it at? I bought the 900 strike calls. Okay. So, it didn't even come close. It shot up to 8.50 on Monday. But that was enough to juice those calls enough, because, you know, they all kind of move together.

And that big move. And it was on volume, too. There was, you see down at the bottom, that big black candle, that was enough to kind. You see down at the bottom that big black candle that was enough to kind of really juice it. So, that was a good trade. I'm happy with myself this week. Hey, good for you, man. Had a lot of good trade.

Don't worry about that. But I'm also angry. Don't worry about the 700 grand. You left it on the internet. Well, this week I left like 40 grand on the table this week, man. Amazon, I had a bunch of, I traded Amazon, I traded Google, I traded Shopify, I won't go into detail on those because it's just too much. But as of this morning, I would be

up another 40 grand, which is just, that's, so that's, there's, sorry, I'm talking so much today, man. It's all right. Sorry, everybody. You know, who didn't leave any money on the table? Who? Elon Musk. Wait, real fast, where are we getting the Elon? This is a problem that I have. I have a real big issue with letting go of what could have been. Yeah, that's where I'm talking.

This is the gambler mindset. It's like, and it's for me, it's not even the gambler mindset. It's just like, oh, you're gonna have in your trading career for those out there who are intrepid young money-hungry gamblers. Take it from me. Don't let these things become brainworms because they will eat you alive. Like, yeah, it's so painful to look at like,

oh my God, I would have had another 40 grand this week, but it's like, I'm already, I did well otherwise. I don't know, it's hard to let go of. What about Elon Musk? No, I'm glad you fucking spoiled my great segue to go back to say that. No, I'm glad, no, that seemed truly worth it. Sorry about that.

I'll shut up. I had a killer segue and then he was like, no, let me go back for a second. So what about Elon Musk? Oh boy. How much how much wealthier is he this week? I don't know. It's on the week, but I think as of Monday on the Monday He went up another 24 bill bill. Yeah, you know those guys you say bill or mill instead of Other so cool. That's what I'm like. Okay. This guy knows money. Oh, man. Yeah, it's up another Wonderful bill is like a bill. I think Man, can you imagine having a bill? Yeah, I mean having a mill would be sick Yeah, this guy fucking knows finance. Yeah, he's got money. Nice Patagonia vest. Oh

The guy you the guy yeah, but I was doing such a good impression you saw Patagonia vest. Yeah, I could just see it. I visualized it. Yeah Yeah, so Elon's doing great still you kind of had a fun little lesson with this one Yeah, this was another fun lesson. You were telling me a funny rule. I have what's called the Uncle Rule that I made up for myself because my uncle trades exclusively on his phone. He used to just call a broker and pay like $80 per trade commission and they totally took advantage of him. They could have told him at any point,

hey, you don't have to call us like this and it's the modern era, like you can just do it online. But he's like, old guys, man, they don't. Yeah. My dad still, he just like refuses to use his credit card. It's just like cash and we'll be out. And nobody like that man is missing out on. He'll be like, I need an ATM. It's like for what? Yeah, for cash. You know, they have, and then, but he thinks they're going to like steal his info or something and he's gonna Baboo you got it. I mean take the risk. I think someone can rob you rob you of your cash and then you got no You got nothing. Yeah, he can save him off though. Well the uncle rule is that whenever my uncle

Text me Excitedly about a stock. I know it's probably done in the near term and that's kind of what happened with Tesla. We got the chart pulled up here. So that candle that I pointed to was Monday's action and it was like kind of a blowoff top and at the very top up there, this is one of the indicators that I use. Some people had asked me about what chart indicators I use, and chart indicators for those of you who don't know are just like different people have invented different, what they call indicators where it's like moving averages are sort of indicator. They're very basic.

It's just the average of the price over the last 50 days or 10 days or 200 or 8 or whatever you want to choose. And there's dozens of them. And they all tell you different things for whatever, momentum. But I keep it really basic. And one of those is the RSI, which is called the Relative Strength Index. And generally speaking, above 70, it's starting to kind of run hot. Below 30, you're probably looking at a near-term bottom and Tesla as you can see has been running a hot

above 70 for a long time several weeks and Topped out and almost maxed out the RSI's capabilities that Combined with my uncle's greedy greedy text saying I just bought you know 20 shares and like when he's like today. I was like okay This is like cuz he waits. He's like I don't know if I should buy I don't know if I should buy and then he finally capitulates and he's like representative of the crowd We should start a

Twitter account that like Tweets out as soon as your uncle texts you about a stock. And we can be like, Ben's uncle just texted about Tesla. Get out. He's done well for himself though. And you know, credit to him. He keeps it very simple also. But so it was just a really quick trade.

This was one where I bought, I bought put options for this week. And I bought them just like toward the end of the day. I bought some of the 11th 30 strike, 1120 and 1100 and I just, I made it. What was it at when you bought them? It was at just about 1200. Wow. So I needed a pretty precipitous drop to happen very fast. And you're welcome. And that's what happened. It gapped down, gap down meaning it opened

significantly lower than the previous days closed. A gap up would be the opposite where it opens significantly higher than the previous days closed. So yeah, it gapped down and then it dropped intraday. It was down to like, I don't know, it was down like 80 points or something. But again, it was enough to juice those puts. I sold them in the first five minutes of trading. I got some puts you can juice. Excuse me? Nothing, forget it.

So that was a nice trade. This is all just bragging for me this week. I mean, this trade, I mean, it's been great everybody. Oh, we also had a, you know, Esla be tweeting. No, Esla, what's the name? Elon.

Esla? I just had a stroke, sorry about that. Elon be tweeting. Oh, he always be tweeting. He always be tweeting. And he says, so apparently there was like, I mean, also these get so annoying. Every time they talk about people's wealth,

they'd like start bringing it down and they're like, if you took just a portion of Jeff Bezos' wealth, you could close every poor person in the world. And it's like, what does that even mean? But so apparently there was a headline going around about Elon Musk's new wealth and how it could have been solved. He could solve World Hunger with just 2% of his wealth and Elon fired back at I think it's the United Nations World Food Program. He said if if WFP can describe on this Twitter thread exactly how six billion was solved World Hunger,

I will sell Tesla stock right now and do it. Fair enough. Okay. Yeah, you'll see that getting to the top. I think there's more to the threat. I think they I think he started I think he started engaging the guy, but then I think Elon left him on red at the end. Yeah, someone this this the WFP chief said that yeah, right there if you go to show replies right below this David Beasley. The 8.4 billion. Oh yeah. The 8.4 B you referred to covers what we needed

to reach 115 people in 2020 with food as this isn't. We need six billion plus now on top of our existing funding requirements due to blah blah. Due to blah blah blah. That's exactly what we're looking for. It's blah blah blah. We're the hunger of blah blah. We're no great fans of Elon,

but we are rooting for him to solve world. Yeah, do it man. I dare you. We, uh, I will never, um, I mean, also, it's not, this is not a new thing for him. This kind of reeks of, uh, condescension. No, I mean, he's done this member with the like, the Thai boys trapped in the cave. Oh, yeah. He was like gonna give them a submarine and it was just, I mean, he's such an egomaniac. He's got to insert himself into the center

of any giant conversation. Bitcoin, the tie kids. And then he, uh, those two things. I'd have to reread, he ended up calling the guy a pedophile for some reason. I don't know. Because the guy was like, with all due respect, sir, we appreciate your help, but you don't know what's going on.

Like his idea was for these like long tubes to put the children in. And the guy was like, we can't do that because of the nature, the way the cave is structured. And then he did go, you said like a pido guy. Oh, such a dork. He did it with the ventilators too during the pandemic. Oh, yeah.

He promised ventilators. And I think he gave people a bunch of sleep apnea machines. He did. They were like CPAP and CPAP and BiPAP machines, and he said he was gonna do, he was like, was crying to Gavin Newsom. He was like, you gotta correct the story. They're saying I didn't,

and then these hospitals were like, he gave us, he's like, thank you for the sleep apnea machines. They're not ventilators. Yeah, I guess we'll wait for people with snoring problems Yeah, I mean It's just a giant weeny. I hope he uh come on the show Elon Musk. It's a challenge Come on the show give me ten million dollars and I will turn it into a hundred million and then I'll keep it I hope I'll donate some I'll donate like a good chunk of it. 50% of the profits will go to my mom. I am rooting for him though. I hope he solves world up. Yeah, you can't not root for someone in that position to like get us off this planet. But also

come on, focus on earth, son. Focus on earth, son. But so this brings us back to, you know, people have been asking, we touched on a little bit, but why Tesla is valued so fucking high? Because it is weird. It is weird. It's a whole story. I will try to condense it, but basically, Tesla has had a lot of haters from the start, and a lot of doubters, and a lot of people who were short the stock, like billionaires, short the stock, and billionaires, short the stock

and always talking trash on it. And whenever you've got a high short interest, meaning short interest is how many shares are short, roughly speaking. So like with GameStop, there were a ton of shorts in it. The short interest was like sky high, over 100%. Meaning there's a lot of shares out there that eventually do have to get bought back to close the short position, right? Same thing with Tesla.

You got say 40% of the shares are short. Those are out there. And you know that, hey, if some buying pressure starts to build and the stock starts to break out and go up, those shorts are screwed. And they have to buy back the stock or they have to deposit more money into their accounts to compensate for the losses that they are accruing

because after 100%, your broker is gonna start incurring the loss, which is what happened to the guy on car. He lost more than he had, the broker then takes the fall. So, with Tesla, it's a big combination of things. It's valued at over a trillion dollars, simply put because people keep buying stock. And that's due to, I think it's gonna go up.

Because they think it's worth more, a trap that a lot of people fall into is thinking, oh, Tesla's just a car company, and they're valued at way more than all the other car companies combined, but that's true, and it's more than they're currently making and more than the assets on their books and more than the cash, it's like,

on paper they are incredibly overvalued, but you gotta remember that the market is forward looking and you have to like you have to realize that people aren't thinking about them as just a car company. They're thinking about them. They're basing their purchases on future expectations for what the company is going to do five, 10, 15 years into the into the future. So that future potential value around electricity, electricity storage, their battery tech, renewable energy, the AI robotaxies, like they're all being factored in. And it's stuff that you can't really value, right?

I mean, you can. You can kind of throw out guesstimations of like robotaxies or $3 trillion industry. But, and this is something that I wanted to cover last week, what you have repeatedly with Tesla and has happened multiple times is you have a combination of short squeezes and then what are called gamma squeezes. Gamma squeeze has to do with options. The basic thing is that there's such a buying frenzy of call options. I'm talking hundreds of thousands of call options on Tesla on Tesla and think about it if you are on the other side of that trade and you are writing those call options

What do you got to do to hedge yourself? pump up Tesla well you have to buy the stock, right? Because each contract is worth 100 shares, represents 100 shares. And if you were talking millions of call contracts, that's a lot of Tesla stock that has to get bought to cover for those call contracts. And that's something that's been happening, I mean, that happened in GameStop that happened in like AMC. It's like, it's almost like a secret cheat code that people have collectively started to wake up to. The options market can really cause some exciting moves in stocks and Tesla is one of them where it's just like buying

begets more buying and there's this perfect storm of good news and the chart set up and options buying and short squeezes and it's just it's never insane. So the valuation is based on a ton of things. A ton of things, yeah. Future value, they're on everything they have going on, it's not just the cars they're putting out into the world. Yeah, and don't get cute and think. And then the market also has its own little weird effects on its valuation. There are so many different ways to value a stock. People use price to earnings ratios, which are called PE ratios. They use market cap.

They use price to sales. There's so many different ways. It's all kind of subjective. There's entire books written about this subject. Like it's kind of you just kind of like pick one. Pick one that works for you. So there were a couple people that asked what I look for. First of all, I'm not any kind of expert. But there's one stock that so one thing that I do, if I'm trying to value a stock, I simply Google the following. I Google the ticker symbol plus the phrase key statistics.

And that takes you to a Yahoo Finance page. It's very basic, but it shows you, and I don't know how accurate this information is on Yahoo Finance, but a lot of people use it. There's other websites, there's Google Finance, there's one called FinViz that people use that tells you stuff. But what I look for is very basic. I first, when we pull up the page here, you see on the left the current market cap, which

is how much the company's valued at, right? Right. And this is a really big heartbreaker for me. It's a company called InMode. The ticker symbol is INMD. They make cosmetic surgery robots and stuff for all sorts of things. Like pulling your skin tight and freezing fat

and Botox, all sorts of stuff. Damn, it looks like they're growing like crazy. Oh, they are growing like crazy. I owned 5,000 shares of this last year at like 15 bucks. I sold them at like 18. Shot all the way to like a hundred and I don't remember. 180 this year. Listeners only, if you can see the chart,

so back in September of 2020, they were valued at 1.19 billion. And then they were slowly creeping up, 2021, 2.7 billion. Gone up like June and now they're at it's 10x Since I bought it Wow and my 5,000 shares they did a two for one split So now I have what I would have had twice as many shares, but the price gets cut in half This one I left I think I would have made like 850 grand in profit on this damn So every day I see this thing and I just want to cry.

Because I was right, I was, I mean, it's kind of like hindsight, it's kind of confirmation bias because I don't know if the things that I saw in it are the reason why it was undervalued, but anyway. So first I looked at the market cap and at the time, it was about a billion bucks, maybe less than a billion. And if you scroll down, it shows you all of these things. And what I look for here is on the left, you got profit margin and they've got great margins,

46% margins. That's really good. You want to look for all positive things. Return on assets, I don't really pay attention to. Revenue was a huge one that I saw. The revenues are 322 million. I think this is annual. They're quarterly revenue growth, 57% year over year. That's huge. They're profitable. They've got cash on their balance sheet. That's another thing that I look for. They have virtually no debt.

They've got 387 million in cash, only three and a half million in debt. And then if you scroll up, back up just a little bit, I then look to the right here and I just see the percentage of shares held by insiders and institutions. I like to see high institutional ownership. I like to see, to a lesser extent, high insider ownership because that shows you that you're not alone and that other people see the value in it. And I saw this combination of things, low market cap, high quarterly growth, solid revenues,

solid amount of cash, low debt, high institutional ownership, high insider ownership, the chart was like set up and it's in an industry where I'm like people are getting cosmetic procedures done all the time and they're like super low-touch non-invasive things it was a no-brainer and At the time I kind of felt like well, what am I missing? Because like if it was that great it should be worth more than this, right? and that was a stupid F up on my part because I doubted myself and And a lot of what I do is doubt myself. I had a gem and it's one worth watching.

Keep your eye on it, because this is one that's now in an unrelenting uptrend and it's probably worth buying on dips. I don't know. Yeah, but that's what I look for. I look at those things. You wanna look at growth, you wanna look at debt, how much revenue they've got, just the basics.

And that leads us into, we thought it'd be fun to talk about an IPO for a little bit because we've never talked about this. And this one might be fun for the audience because it could be happening, imminently, the Rivian IPO. Rivian, which is, it's the new, not that new, I mean, it's been around for a while,

but everyone's talking about it now because they're ready to launch. It's a new electric vehicle. Drugs. Yeah. And they're Tesla-esque in that they, it's all going to be, there's not going to be dealerships. It's going to be the same thing where you go directly to Rivian. And another thing is there, you know, one of the biggest

draws for Tesla is their charging network. They probably have buy-for at the best charging network for any electric vehicle. And so that helps that, you know how many, you know how many people drive Teslas out of electric vehicles? 90%? Wow, okay, that's higher than I thought. But it's a lot. I think last year for all the- Like the market share of Tesla's in the electric car. What is it? Last year for all the registered electric vehicles, it was 79%. That's substantial. That's a lot

higher than it was 10 years ago. Yeah, and I mean they're expensive cars. Yeah so But Rivian is also building out its own Charging network because I think if you're not on Tesla It's like mostly these weird third party Charging link is one I on Nick or something. Yeah But so Rivian is they're gonna I think they're hoping by 2023. They'll have and They've got you know how Tesla has the supercharger is they're gonna, I think they're hoping by 2023 they'll have. And they've got, you know how Tesla has the supercharger? I think they've got their own little version of that.

It's like the Rivian Adventure Network. And it's the RAN. The RAN. The RAN. Exactly. And so they wanna have like 6,000 of these chargers and something like, I don't know, I'm gonna get it wrong. It's either like 3500 and 6600 locations. I mean, I don't know I'm gonna get it wrong. It's either like 3500 and 6600

Locations, I mean I don't think that's ambitious. I mean yeah, they still won't and then it'll be like 10,000 waypoints, which is like It won't be as fast charging but it will still be faster than standard charging So it'll be all things that you need as a company as an electric car company to overcome the Ranging Ziety that electric car perspective electric car owners to overcome the range anxiety that electric car, perspective electric car owners have. This is one of the biggest barriers to getting people onto the electric vehicle. Everyone, I think it's not just the US, it's Europe is having these problems too. I mean, that's, you know, because I wish, so right now now I think you can only, if you, you can only

use the supercharger network if you have a Tesla. In Europe it's, they have different, everyone has to use the same plugs and stuff, and in America, Tesla has, they have the Royale with cheese. Exactly. Tesla has a proprietary charger here. Yeah, months like the iPhone, right? Right, they're like the Apple of electric cars. That is so annoying.

Get over yourself. Right, but it doesn't matter. Tesla does the same thing in Europe because they can use software to block people from charging on their network. So I think Rivian is using the standard like CCS charger or whatever it is. But I think initially they said the RAND network

will only be for Rivian drivers. So right, it is a bit of a bummer that they're kind of creating this patchwork of weird. Yeah, it sounds like they're gonna be taking up more space than gas stations. If every car company is gonna have their own damn proprietary charger. I think they're gonna open. Tesla is right now doing their own damn proprietary charger. I think they're going to open.

Tesla is right now doing a pilot program in Europe where they're allowing people to charge their electric cars at Tesla stations. And I think he said he wants to bring it to the States. And I think like Rivian said, they're only doing that initially. I mean, that's, it's tough because like that is one of their big selling points, right? The charging networks. Yeah. And they're doing a thing, they're like these adventure vehicles.

They like, they're kind of crazy. You should look at one of the videos. They like, a lot of it is what they showed on the cyber truck, the Tesla cyber truck. They've got the same kind of camping capabilities, like a tent will pop out and you can get the attachment where there's like a stove top coming out. So and that's another thing like there's a I think there's a Tesla Rivian. Look at them. They're pretty sick. The R1C is the truck. The R1S is the head lights are a little goofy. Yeah, they're a little goofy. But that's kind of the name of the game with electric vehicles. A lot of them look a little goofy. Yeah, they're a little goofy. But that's kind of the name of the game with electric vehicles. A lot of them look a little goofy.

Well, they're IPO-ing at a valuation of roughly $53 billion. They're trying to raise a little over $8 billion, which is I want to say the fourth largest raise in IPO history. Amazon owns 20% of them, Ford owns 5% of them. Their stated strategy is to build electric delivery vans for Amazon. Yeah. So it's a little bit of a hurts situation where they, I think they have a, like, Amazon wants to build out their electric fleet. It's part of their push to go carbon neutral or whatever, by 2035.

And they're developing a pickup and an SUV aimed at affluent people so Sorry poor people. It's gonna be wild to it'll be very like much like Tesla price is probably you know, yeah, yeah, like upwards of 50 60 grand Yeah, and then when you start adding on all these packages and stuff. Yeah, but so and it's in there we can go through their SEC filing a little bit and. Yeah, so we, we, um, oh yeah, well Tesla's, Tesla's kind of getting pissed. Tesla's got a lawsuit against it. Tesla's suing them. It started out as, so a lot of the people from

Rivian used to work at Tesla, which is not that crazy in the car. Crime me a river. In the car industry, it's like a lot of people jump different. Any industry. But I think the problem is that you're dealing with pretty new tech. And at first, it was just Tesla was suing saying that

Rivian is poaching his employees. Yeah. Elon Musk was saying that. Yeah. And Rivian was saying too bad, so sad. They were saying that he's doing this to intimidate people to not let them wait. Right. So it was like a weird little battle,

but now he's expanded the lawsuit to say that they are actually stealing IP trade secrets tech. I mean, I don't, he's probably gonna just try to bury them in legal crap. It's, it's, it's, which is unsurprising. Yeah, I mean, so, but this is something they're listing and they're filing. Yeah, which is what we wanted to talk about next.

So when, when a company IPOs, there were some people ask us, so shout out to Larry. Hey Larry, a friend of mine who was asking me, should I buy the Rivian IPO? First of all, I have no f'ing clue to anybody asking anything about buying anything. I don't know, man. Do, you know, but one thing that you can do is when a stock is about to IPO, which stands for initial public offering, initial the first public offering. It's about to be offered to the public for the first time to buy the stock.

Right, and before that, it's just a private company. It's just a private company. It's a private company they're doing well and they want to be able to offer themselves up to. Yeah, the insiders, all the original angel investors and the private equity firms want to cash out. So, well, and they-

But they can also help them build capital in the next- Yeah, exactly. And they want to raise money, which is what Remien's doing. But what they do is they, it's kind of like a birth certificate for the stock. It's called an S1. It is the filing that they put out there that kind of outlines the business plan and how they're going to use the proceeds from the raises.

But there's one thing that you ought to look at when you open up. So if you want to check out, you can check out any stock that has filed one of these, any public stock, it's out there indefinitely, but you just Google the stock and then S1. And so I recommend going and searching under the risk factors. And Rivians risk factors is 50 pages. And it's really interesting. There's just like, and it depends on a lot of things. Yeah, it depends on so much.

So I'm just gonna go through a couple of these. These are, each one of these then has an entire paragraph below it kind of going into detail. So we are a growth stage company with a history of losses and expect to incur significant expenses and continuing losses for the foreseeable future. Our limited operating history makes it difficult for us to evaluate our future business prospects.

Okay, our ability to develop and manufacture vehicles of sufficient quality and appeal to customers on schedule and on a large scale is unproven. Like a lot of this is basically they're saying stuff that you know the lawyers kind of make them have to say they have to account for any and all contingencies around tech. IP, there was an interesting one that said we might have customers who decide to modify their cars that are against our recommendations, and that might, you know, someone might put something on it aftermarket and it causes it to blow up,

and that could adversely affect our stock. Like, they really touch on everything. Don't they also have one about the CEO? Yeah, there's one about the CEO. I thought that one was pretty interesting, because it, yeah, keep going here. So they have a CEO, RJ Scaring, I don't know how to say his name. We are highly dependent on the services and reputation

of Robert J. Scaring, our founder and chief executive officer. If he were to discontinue his service, due to death, disability, or any other reason, or if his reputation is adversely impacted by personal actions or emissions or other events within or outside his control, we would be significantly disadvantaged. They make them seem almost Elon Musky, but I don't think I've... Well, he's like the... This is his brainchild.

Yeah. He started it in 2009, I think. I googled them a little bit. He seems fairly normal. Oh, cool. Vegan guy who likes to mountain bike and... Yeah, of course he is. But he seems fairly normal. Like, vegan guy who likes to mountain bike. Yeah, of course he is.

They talk about, they go on to, it's interesting. I suggest you all take a look. But it's worth paying attention to because there are cautionary tales, Facebook's IPO. Like there are some IPOs that are successful right off the bat. Beyond me was a very successful one. That's another one who I think they had a trade secrets lawsuit when they appeared, but

it didn't affect them. So I mean, it depends. And that one was interesting because I think there was a bit of a short squeeze factor where it was hated from the start and it felt like it was a bloated valuation, but then to everyone's surprise and to the chagrin of shorts, it just rocketed from like, I don't know, 20, 30 bucks a share all the way to several hundred. And it just was insane. But Facebook's was a very unsuccessful IPO because in their S1 filing, in their risk factors, 11 days before they went public, they amended it to include this little thing. And they basically said, Oh, hey, by the way, we're slashing our revenue projections

because this was like 2013, 2011, 2012, whenever they went public, we're slashing our revenue projections because more and more of our users are flocking to mobile the app instead of desktop and you know online and we haven't yet monetized mobile so our numbers are gonna get affected so it was this whole Thing where all these analysts had to like revise their projections and it was just this chaos and there was a lawsuit That they were involved in that they also hadn't really discussed. But it was interesting, because at IPO, at like, I don't know, 40 bucks or something like that, it eventually dropped all the way down to the teens, because they're mobile, which is insane to think about all this time later. Their mobile revenues were zero.

They made exactly no money off of their Facebook app. It's insane to think about that, right? And then I distinctly remember, I almost made a trade on it and I didn't go into their very first earnings report where they were gonna drop how much money they'd made after finally monetizing mobile. They went for making zero dollars on mobile

to like one point something billion dollars on mobile. They just pulled the lever and boom Money machine and then it all and it never looked back and now it's you know how much did it shoot up when they turned on the like destabilizing government's thing A lot man they love the destabilize These can be trick. I mean they can be very tricky. Tril Twilio was another the destabilizer. Yeah, so these can be tricky. I mean, they can be very tricky.

Twilio is another successful IPO that had a lot of hype and fanfare, but then it didn't live up to the expectations. It shot all the way back down to like the teens, but then they started to kind of find their footing and they rocketed back up. Now Twilio is an indispensable part of any growth portfolio. You know what Tesla IPO debt? I want to say $15, $20,15? No, no, the market cap. The market cap was tiny.

It was only a few. Isn't that crazy? It's wild because now the electric vehicle space has gotten so crazy. Everything is crazy now. Everything IPO is such insane valuations. It leaves little room for the little guy to participate in any of the upside. It's so it seems Right, unless you buy what is the nerd wallet just went public at like a 1.8 billion dollar valuation

Damn, you want to buy some nerd wallet? Maybe I'm gonna use them for something, but I can't use credit karma for my stuff One of them I like check what are good credit cards buddy. You got me know, this was before, that's why I don't use it anymore. That was before I knew you were the freaking points guy. Yeah, if anybody needs referral codes, just DM me and... I'll get points. I want to get in on the points, I'll get points, you'll get points, we're all happy. Come on.

Let me get more points. To evolve into a point scheme. I just want to accumulate them, I don't want to use them. I just want to scroll them away. Put them in my cheeks. Put those nuts in my cheeks. But yeah, so there is a lot, and I hope we time this out. I hope this drops and Rivian IPOs the day.

Oh, that would be sick. That would be sick. Mr. Dr. Scarage, please. Dr. Scarage. IPO on Monday. But there's a lot going on here. There's a lot to watch, especially with the electric vehicle space.

I mean, we need to do it. Joe Biden says we're gonna do it by 23. Hey, Jim, what's up? I got to get the electric car. My uncle, he was a car. He's, he's, he ever seen a video where he says, boy, could my dad drive a car? No, it's so weird.

He says boy, could my dad drive a car? He's driving a car. It's like to make him more relatable. And he's like, he's like in this old Corvette, I think. And he's like, you know, he's not all there up there. And he, uh, which, I don't blame him. He's like, guys, so fucking old, I feel bad for him. But, uh, he's just sitting in the driver's seat.

At one point, he just goes, boy, could my dad drive a car? But I hope, you know, I hope something happens with the, like, to Joe Biden. No. Oh, I don't know. The charging network though, I hope, you know, I hope something happens with the like Did you go by? No. Oh, I don't know. The charging network though, I hope they do something to standardize it. It would be great to because I mean,

when you're looking at the numbers for those electric vehicles sold, it's, you know, it's some, it's mostly Teslas. And then you got some, it's like the cheaper vehicles. You got some Chevy bolts in the mix. Yeah, it's charging network. Nissan Leafs. What? I use America Express.

Okay, he's trying to sell you more. Get a card. Get. I want those referral links. But they said, I think with his infrastructure plan, they're trying to build at least like a half a million, a half a million charging stations. And it's like, and every time he does that, the charging stocks, there's blink, there's plug,

there's, I don't remember which other ones, but they all shoot up for a little bit and then they just get sold off because they're like so overvalued and so far from profitability. But if we don't, we don't do it, who's gonna do it? Right, but I hope there's some kind of standard for it.

We're not just putting it, it'll be small. USB, USB C or something. Right, yeah, not Tesla, not Rivian, not, yeah. Don't let Apple take over the, but you gotta make money a meal. I know, that's the thing, that's where the big, but, you know, this used to be, I don't know, there used to be like a, I'm gonna get it wrong, but there was like a product standardization was not like a thing until I Think Herbert Hoover as a secretary of commerce

No, the bad president during the Great Depression Um, build the damn He didn't build it, but they named it after him. Oh like as a secretary of commerce. I think in like 1920 or something There was like before he stepped in and As a secretary of commerce, I think in like 1920 or something, there was like before he stepped in and issued product standardization, there was like 78 different types of mattresses. Like you know how now you have like king, full, queen, twin? There were 78 different size mattresses, something like that.

What were they called? I don't know. Every company had their own, right? It wasn't like they... 78 different mattresses. I say bring them back. Bring back the innovation. Bring back choice. I want to lay on a weird fucking mattress yeah give me the I don't know super king super queen I have a queen I gotta because I am a queen what's the difference between a full

on a queen I don't know a little bit bigger okay but so is there anything else you want to tell people if they're looking if they're if they're interested if this comes out careful Read the risk factors and then yeah Take a look at the S1 is worth looking at and then command F to search within the document for risk factors and just take and take an hour It is hard to tell because like just on a brief glance it looks I'm seeing like intimidated Amazon and Ford backed like, Yeah, almost kind of new Tesla, very cool cars. Great charging network.

Seems tight. I'm in. All right. Well, but then you'll call it. Well, and they can also just wait for it to IPO, see how it does after a week and dip your toes in if you so choose. But yeah, I don't know. Okay.

See each his own. They're own. To each their own. Should we leave it at that? I think we should leave it at that. I think that's a good amount. We've covered so much. We have covered it.

We're going a little bit over. No, we're going just how much we want. Right. Buddy. Yeah, we did this on purpose. Jeff Bezos. There'll be more episodes. We'll get to the other stuff later. We did this on purpose. Jeff Bezos. There'll be more episodes. We'll get to the other stuff later.

Just, what, why did you just say Jeff? I don't know, I'm just thinking about, makes me sick. That was weird. Jeff Bezos. I'll explain later. Oh, okay, tell me off camera. Anyway, thanks for tuning in folks. Thanks for tuning in again.

See you next week for another. Like, subscribe, comment, listen, watch, do whatever you want, you crazy freak. Scream, take off your screen. But don't follow people and stand for backpacks. It's very, you're gonna make them uncomfortable. We want everyone to be safe. Yeah, take care everyone.

Happy Halloween. Take care everyone, happy Halloween!