In celebration of our one year anniversary, the 7investing team will all be on 7investing Now at 12:30 PM ET on Friday, March 19th to share our top investing advice and take your questions. Each of us brings a different perspective to investing and we’ll talk about some of the principles that guide us on our investing journey. We will also take your questions and throw in a few surprises.

Transcript

Samantha Bailey  0:10

Welcome to 7investing Now, a show that teaches you how to take a long term view on investing by better understanding what’s happening in the market now.

Simon Erickson  0:22

Hello, everyone and welcome to today’s episode of 7investing. Now I’m your host, Daniel Brooks Klein. (Laughs) I’m not actually Daniel Kline, I’m Simon Erickson. Dan, our esteemed colleague and host of the show is having some technical difficulties promises us that he’s going to be back in soon, so I’m going to have to stop winging it as host of the show for the time being. I’m joined by several of our lead advisors here at 7investing, Matt Cochrane, Steve Symington, and Maxx Chatsko. Now, our first story for today’s show is about the market sell off. And we’ve been talking about this a lot. But we’ve got perspectives from each of our advisors to kind of chat about how we feel about investing in today’s market. Right. And so gentlemen, we’ve seen some headlines right about inflation might be kicking in, maybe interest rates are going to go higher, maybe that’s going to punish overvalued tech stocks in the NASDAQ. And then we’ve also seen kind of the other side of this story to where people are saying, well, there’s stimulus checks that are coming back out, right. What about the large retailers? What about the large companies in the Dow Jones Industrial Average? What is this going to mean for them. And so we’ve kind of seen a divergence of some of the types of investable ideas out there. I’m not going to focus on the specific earnings or the specific headline news. That’s going that’s going out there right now. But I would like to focus on long term investing, because our approaches seven investments, of course, to buy and hold through market sell offs through market, bull markets, whatever it might be out there, we tend to stick with the companies that we’re recommending, because we think they unlock value over time. So Steve, I might start this question with you of if you’re an investor out there, right now, what is one piece of long term investing advice that you would give to us?

Steve Symington  2:03

I would say think long term. That’s one of those things that a lot of people fail to do in markets like today is they focus on Oh, my gosh, my stock is plunging. I don’t know what to do. And it’s, it’s massively frustrating. And if you extend your time frames, you’re thinking of, you know, extend them out two years, not months, or even quarters. Think about where a company is going to be a couple of years from now.

Simon Erickson  2:29

Yeah, great point. Think long terms. Don’t think of strategic strategic plans rather than just earnings that are quarter to quarter. Right, Steve?

Steve Symington  2:36

That’s exactly. And that makes it a lot easier to determine what a stock’s going to do. As long as its business is heading in the right direction, its share price, assuming you stepped in at a reasonable valuation should eventually follow suit suit. Okay, great.

Simon Erickson  2:51

How about you, Max? What’s one piece of advice you’d give to investors?

Maxx Chatsko  2:55

I would say, it’s good advice for life, too. Don’t skip leg day, right? And by that I mean, go and develop a thesis, right? It’s the simplest thing we can really do. But a lot of investors don’t do it. It’s kind of amazing, right? So you want to ask, why do I want to own this business for the long haul? What could go wrong? How will I know if it goes wrong? How will I know if it’s going right? Develop a thesis, develop an outline, develop a framework, know why you own every stock that’s in your portfolio. And then this will help you navigate periods of volatility. I need to do this because I you know, live in, you know, drug developer space here, that is volatility is just part of the game, right? I’m waiting years sometimes for some of these theses to play out. So if a stock’s down, like 20, or 30%, sometimes I don’t even care, I don’t even blink, because that’s just par for the course, especially if my thesis remains intact. So in periods of broad market volatility, like we have now or, you know, stocks go up and down all the time, right, every day, it’s kind of shifting around a lot. A thesis is really, really important.

Simon Erickson  3:53

Yeah, that probably gives a lot of calm in the middle of the storm. Right, Maxx, if you know what you’re looking for combining that with what Steve said, about thinking longer term, you probably don’t get as skittish and want to sell when the market is selling off. Because you say, hey, things are looking just great for the fundamentals of my company. Right.

Maxx Chatsko  4:09

Yeah, exactly. You know, again, with biotech, I mean, you need to know what the thesis is. And it’s really calming to, you know, if something goes down or up 10% a day. Again, I don’t blink, if it’s my thesis hasn’t changed, and oftentimes it doesn’t.

Simon Erickson  4:26

Perfect. Thanks very much. Maxx. How about it, Matt Cochrane, Steve said think long term Maxx says develop a thesis. What’s your advice for investors?

Matt Cochrane  4:33

Well, both of those things like think long term develop a thesis. The other thing I would say is look for companies with like, a special advantage like at what we would call an economic moat. You know, remember, stocks represent ownership in a business, and good businesses are built upon the ability to eventually generate profits. But those profits don’t come free though. They’re going to be earned by doing things differently, or more effectively than what’s already available. And we want to invest in companies with sustainable competitive advantages. These are called moats because that’s what, you know, if you think about medieval times, there’s moats that surrounded castles, and that would protect it from invading armies. You know, in the same way you want to think of companies, what protects them from competition, so that they can continue to generate profits over the long term. You know, this could be anything from like, a patent sec grants, exclusive intellectual property rights, a brand second, customers love and repeatedly buy from, or just something that would be like that products that are so familiar with customers that will be very costly or time consuming to switch to something else. Whatever the economic moat is, you want to buy a company with a special advantage, you want a company with an economic moat, that can protect it from competition, copying what it does. And these are the things that are going to allow companies to charge higher prices and generate greater profits overtime. Fantastic. And we have a

Simon Erickson  5:57

special guest for today’s seven investing. Yeah, Dan Kline are very host of the program. Welcome back to the show did

Dan Kline  6:03

the Simon literally my computer just stopped doing anything. And then the spinning thing came up and would not restart. I unplug, cut the power off. So I don’t know what went wrong. But we are back. Simon, thank you for taking over. This is seven investing now we’re going to be answering your questions. We have a bunch saved up from Twitter. But if you wherever you’re watching this, if you want to share questions live in the feed, we will try to get to those as well. And of course, we are starting out by sharing our investor tips. I know Matt, when Simon who hasn’t gone Is it just me left?

Simon Erickson  6:36

Just you and me, Dan, we’ve gotten from everybody else so far.

Unknown Speaker  6:39

So I mean, why don’t you go and then I’ll jump in after?

Simon Erickson  6:42

Well, to remind everybody what we’ve just heard, including Dan, you know, we talked about some of the ideas that we have for investors, Steve said think longer term, Max said, you know, have a thesis, Matt said look for competitive moats, mine is going to be add to your strongest conviction ideas over time. This is counterintuitive, because we kind of been trained to look for bargains, right, we want to find those companies that have just sold off so significantly, and we’re going to buy them really low, because they’re going to shoot right back up, and we’re going to get a bargain. But in reality, if you’re an investor, all you care about is the forward looking returns of your stock. You don’t care what the price was before you don’t care if it’s fallen in value, you don’t care if it’s an all time high right now, all that matters is going to be what is going to be the return for you going forward based on the stock that you have in your portfolio today. And so one technique that I personally like to do and do all the time, is look for my winners that are getting stronger. Even if they’re selling at all time highs and higher and higher stock prices. I’m only looking forward so I have no problem adding to companies that are winning over time, even if they’re sitting sitting at all time highs.

Dan Kline  7:44

That is back to me. I thought of the question. So and it’s really because I wanted to answer it. For me it’s remember that conventional wisdom isn’t always correct. So conventional wisdom says physical retail is dead. Well what retailers have died. Sears is mostly dead. JC Penney is mostly dead. GNC is struggling. We’ve had a lot of bankruptcies. The common thread is these weren’t well run companies. There’s lots of brick and mortar retail that’s doing really, really well. And that’s really what you have to look at is the underlying narrative false. Here’s another one. Airlines don’t become a good investment just because the economy is opening back up. Yes, more people will travel but prices are going to be depressed fuel costs are are rising. We don’t know a business travel, which is the most lucrative segment for most airlines is going to come back. So it really is. A lot of what people believe isn’t always true. The other one is sports betting. You take any sports property, no, oh, they’ll add sports betting it’ll be great. Sports Betting is going to be a commodity. I’m not saying that doesn’t mean that some of these plays won’t be good investments. But just tacking on sports, betting to Fox Sports or DraftKings. Being able to operate in more places, doesn’t mean that there’s not going to be incredible competition when you log into your television. If every platform allows you to bet that’s going to be competition, this might just become a where am I at the moment that I’m going to go? So really part of why we’re here at seven investing is we do the homework, we don’t just give you the sort of top line answer that that you know a lot of common commentators on various cable news outlets will just give you that sort of very basic spin. We give you the deep analysis with that. We’re going to be moving on to taking your questions. We’ve got a whole bunch of them from Twitter, but of course, we’d love to see some new ones live in the feed. So I’m going to throw the firt the first one it’s really two questions to you, Sam Bailey, you have the graphics, these should be one graphic. The first one is from from church and it’s what’s the deal with all my high tech growth stocks. And Mac Lu says when or will this yield induce tech correction be over in your best guess Simon can we have an exact date when it’s gonna be?

Simon Erickson  9:50

I wish I could give that to you, Dan, that’d be fantastic. What I will say is that if you’re a long term investor, this doesn’t matter. And this is based on statistical evidence, you know that we’ve looked Over the best performing stocks in the market, right? So the top quartile performance of the s&p 500. And we look at those over 10 year periods. Right. Now, if you compare the one year period versus the 10 year period, there’s a lot more noise based upon valuation. And what I’m getting with this is I think a lot right now of what’s going on in the market is based upon valuation, people are willing to pay a higher or lower multiple of fundamental sales, a fundamental earnings, the fundamental cash flows, based on what they think interest rates are going to do over the next six months, year, two years, whatever it might be. And then if interest rates go up, they sell time to sell my tech stocks, goodbye, NASDAQ, and you see these sass companies software as a service company selling off. But if you’re looking at 10 year periods, 90%, or more of a stock’s return is based upon its fundamentals, not upon the valuation multiples of those fundamentals. So if you’re investing in 10 years, do you care if interest rates are going up this year? And then they come back down in a couple of years? Do you care if the market is going to give a higher multiple this year? But it’s going to come back down next year? Probably not, you know? And so to answer the question, which I think is a great one, Mack and choo choo, also have, what is the exact date when interest rates are going to go up? Or what’s the exact action of the Fed going to be in these next six months? Unless you’re looking to get in and out of your companies in six months? I don’t think it really matters, focus on the companies that are disrupting their industries, and showing the right operating metrics, like Matt said at the beginning of the program, because that’s going to carry your returns over the long term anyway.

Dan Kline  11:27

And we’re still seeing very, very low rates, even if they go up. This is not, they’re not going to spike rates here. So the next question here, I’m going to throw it to max and Max, you’re not going to have an answer, probably. But a blue collar investor wants to know, are there any stocks that have a play into the wedding industry? I asked you, Max, because you’re the only one in the team who could still have a wedding as you are not married? I have an answer here. But curious if there’s anything that pops into your mind on this one?

Maxx Chatsko  11:53

Yeah. Why would you give this to me? Like this? Are you talking to my sisters that what’s going on? No, I’m

Dan Kline  12:02

teasing a little bit, because I want to actually answer that.

Maxx Chatsko  12:05

I would say maybe Bumble, but I have no idea what as they’re like an actual our own like, I have no idea.

Dan Kline  12:11

So I actually would say that Macy’s and and target to an extent might benefit I think we’ve had a lot of people push their weddings off. And I think we might see wedding registries that are a little more practical. It’s not sexy to register at Target. But you know, you need when you form a new household together, you need plates, and you need dishes, you need regular stuff. And I think we’ve moved past the era. Nobody has formal dinner plates anymore. My wife and I didn’t register for formal dinner plates, we kept things very, very casual. So do I think it’s going to be a meaningful driver? No, I mean, it’s gonna be one or 2%. I do think you might see a boom in higher end restaurants for a while. But again, I’m not sure how you’re going to separate the wedding business from the just general return to normal. But that is a fun, good question. With the team here. If any of you want to take any of the questions were getting live, feel free to let me know which ones you’d like in the private chat. Michael field says, as a retail investor, how can I form a discipline to add to my existing winners already have 20 to 25 stocks, and not wander into some new new which is popping up left, right and center these days? Someone wise told me buy 100 shares of 10 companies and not the other way around, I’d argue just buy shares in good companies and don’t necessarily put a number on it. But Matt Cochrane, how would you approach this?

Matt Cochrane  13:30

Can you put up the question again, Dan, I was I private chatting. Private,

Dan Kline  13:36

if you want to throw the question back up, Michael field says, as a retail investor, how can I form a discipline to add to my existing winners already? So basically,

Unknown Speaker  13:45

yep, go ahead. Shoot.

Matt Cochrane  13:46

Yeah, so so so what I would say is there’s there’s a couple ways you could you can tackle this is like, is hopefully you get to know your 20 to 25. Stocks well, and as you get to know them, especially over time, you’re going to get a sense of when they’re on a good valuation than they normally are. Like, there’s, there’s quick things you can do, like quick shortcuts like that, I would say so as long as your original investment thesis is intact, like I kind of like to look for when there are below there. They’re like five, like, for instance, it Home Depot, or Costco, like you look at their five year p e average, right? But p e ratio, and if it’s below that, that might be an indicator, like, maybe this is a good time to add, like that’s not a perfect that’s kind of like a shortcut, right? Um, that’s not like a really deep dive on its valuation. But if you’re just looking for like quick shortcuts, quick, quick hacks, you can do a like, doo doo kind of screens like that on your company’s to know where they might be better buys than other times. Again, as long as the original investment thesis is intact, and maybe the original investment thesis is like not going well. You kind of want to just like let us sit and hold it for a while. And if it’s going better than expected, you might want to just buy on that. So now you That’s not the only thing you should look at. You need to Why did you buy that company? And is that on track? Or is it not? Is it going better than expected? Is it going worse? There’s all kinds of factors. But hopefully, you get to know the companies in your portfolio well, over time, and as you get more familiar with them, you’ll you’ll, you’ll get a better sense

Dan Kline  15:18

of sort of an unofficial philosophy here, where if there’s something new I want to buy, I generally spend about half my investing budget for the month on that, and then I’ll spend the rest of it, you know, sort of growing my positions in other things, Steve Simon, and we haven’t come to you. So what are your thoughts on portfolio building here? Yeah,

Steve Symington  15:34

I I’d say don’t be afraid to open starter positions in some really compelling new ideas. And, you know, sometimes those startup positions will, will grow into very large positions. You know, you have companies like Meg Knight, for example. You know, if you, you know, picked it up early last year, it ended up being a solid eight 910 bagger for yen. And that’s something where you could open a small position, it becomes a regular size position in a hurry. And I’d say don’t don’t limit yourself, you know, that 20 to 25, stocks, some people that’s it, that’s a good, you know, size portfolio, and they like the diversification but also focus that that offers. But, but don’t be afraid to branch out. Just don’t haphazardly buy new businesses. As you you know, heard someone on Twitter Hawk and opinion on it, you’re like, oh, let’s go buy it. I think you really need to deeply understand what it is that you own. And and you know, that I wouldn’t be afraid to, you know, bring that up to 3040 companies or even more, depending on, you know, the size of your portfolio and how focused you want to be.

Dan Kline  16:46

Yeah, and absolutely consider the source of where you’re getting information from. If something’s a seven investing recommendation, or pic, or even if it’s not a pic, but we’ve talked about it being a stock we really like that’s a lot better than some person you may not know or some person who may have ulterior motives on social media, be very wary about what you’re seeing on Twitter, Reddit, Facebook, you know, your MySpace page, your classmates.com page, whatever it might be. We’re going to take a live question from investment talk, and I’m going to remind you get your questions in I don’t see a lot of questions in the biotech space for Maxx Chatsko. So we don’t want to let Maxx off the hook here. So get some questions in.

Unknown Speaker  17:23

But Sam Bailey, if

Dan Kline  17:24

you want to pull up that question, I would love to hear Maxx opinion on idfa and Zach’s recent comments if he has read them? I’m sure Matt has read them. Matt Cochrane.

Matt Cochrane  17:32

Yeah, so I haven’t studied him briefly, but I am familiar with the gist of the comments. Like basically Mark Zuckerberg said, like, he’s confident Facebook is going to be able to manage through Apple’s upcoming changes to its iOS 14, which is like a privacy update. It’s which basically, it’s gonna make it easier for the iPhone and iPad users to block companies from tracking their activity to target ads. And basically, Zuckerberg take his it’s like, well, he, he’s confident because sellers might be now turning to Facebook and Instagram to directly sell their arm to sell their merchandise and products and services. Because guess what, they don’t want to pay that 30% take rate that Apple takes when you sell things through the app store. And basically, like, what I think it’s gonna come down to, is that like, Zuckerberg, and other large tech companies are going to bet that like, Apple 30 30% take rate in their app store is going to be a bigger problem for Apple than like Apple’s privacy updates, and iOS 14. Um, you know, he basically said they were going to create this subscription service for publishers and said, they were not gonna take any revenue share. And he said, it took a lot of back and forth with Apple to convince them not to take that 30% fee. Um, you know, Apple is basically blocking innovation and commerce with the 30% fee, according to Zuckerberg, and I kind of agree, like the web browser is something like if a if Microsoft, like with Windows had had done something like this, like back in the day as the first internet, like the web browsers, different web browsers would not have been possible. Like Imagine if everything you bought through a web browser had to pay a 30% tax to Microsoft, you know, when Internet Explorer was first out, and there wasn’t much competition, like so. The as mobile becomes a bigger thing, the App Store 30% take rate is becoming more and more ridiculous. I kind of agree with Zuck there, Zuckerberg there that, uh, you know, we’ll see how that goes. But But guess what companies don’t want to pay that 30% fee to Apple every time they sell something on an app just because they got that app to the App Store. And by the way on that call suck up are updated like Facebook, there’s without 1 million active shops selling merchandise on Facebook. More than 250 million people are interacting with those shops every month. And look, I just think the next few years it’s going to be explosive for Facebook and Instagram and WhatsApp like that the combination of that it’s gonna be A real ecommerce powerhouse. And I think Apple does have a problem with their 30% take right in the App Store. Hey, did

Simon Erickson  20:06

anyone else notice that Matt called Zuckerberg suck? I feel like they’re BFFs I mean, you guys are friends now. Right?

Matt Cochrane  20:10

Absolutely right. We message.

Dan Kline  20:14

It doesn’t feel like Zuck has normal friends. He doesn’t it feel like Zach goes into like a closet it like, you know, four in the morning and they just power him down for a few hours. And then he comes back on. The most personable guy, you know, duck, if you’re watching, we’d love to have you on we you know, if you want to tell some of your uncomfortable jokes, that would be absolutely fabulous here on seven investing now.

Matt Cochrane  20:37

A shout out to mark, thanks for listening. We appreciate

Simon Erickson  20:39

their avatars talk online together. Dan?

Dan Kline  20:42

Simon Erickson, you want to take a question from Zipcar? I’ll let you read it, because there’s a couple in there. And I’m not sure which one you meant.

Simon Erickson  20:49

Sure, yeah. So either one of these, I think is fair game. Thanks for the question. Kevin Chu, actually, let’s go with this one first. Kevin, Kevin has been emailing us at info at seven investing.com. So thank you, Kevin, I’m glad to see you on our live stream show here as well. Just because of seven investing, I’ve dove I dove into industries that I believe are the future Software as a Service, cloud security, artificial intelligence, biotech, but I try to constantly keep some skepticism and then re evaluate assumptions to avoid blind spots, dot dot dot, the question continues. But as of now, I can’t see how these industries can end up not being the future. What am I missing? What are the biggest risks for these industries? Okay, so great question. Because so much of growth style investing is future cash flows, right, the value of these companies is discounted back to the present. If it plays out the way that we expect, and and they perform admirably, then great, you’re getting them undervalued before the rest of the market catches on. If it does not play out the way that you’re expected, then you’re probably going to suffer some pain from those industries. And I can give examples from both of those, right, we’ve looked at biotech companies, I think could be extremely undervalued. As you see the value of this catching on genome genomic testing. We had another question here about envy Tay, I think that that is an undervalued industry. I think that artificial intelligence, Steve, I mean, all the machine learning companies are adding an incredible amount of value right now to corporations that can’t even get in the door with them, because they’ve got so much demand for them. But let’s look at the other side, too, right? The glass is sometimes half empty. 3d printing was something that was really really hyped up a couple of years ago, investors were so excited and putting money into 3d systems, and stratasys into basically every 3d company, 3d printing company out there, and there simply was not enough demand to warrant the hype that was being put into investments. So bringing this all together back to your question, which is a fantastic one is, Max said earlier on the program, we need to look at operating metrics, we need to not just look at PE ratios and market cap valuations and things like that, we need to look at customer counts, customer retention, rising operating margins over time, new projects that have a ton of demand for them. Things like this are going to be much more correlated to stock returns, rather than just short term hype, which is predictive by the Gartner hype cycle anyway, for new innovative technologies. So when we’re looking at growth, sell investing is that seven investing, myself and my other advisors when we’re talking about these kinds of companies on our team calls, which by the way, we have one of those later this afternoon, gentlemen, so it’s going to be even more hours on the zoom call with me here today. But we’re not talking about things like what is the stock price? Today? We’re talking about operating metrics, and how is this business performing, especially for growth style investing, where the the majority the value is gonna have to come in the future?

Dan Kline  23:34

Thank you, Simon, we’re going to go to a question from The Empire Strikes first, which I’m going to give to max but anyone else is welcome to weigh in. Given that a majority of money managers can’t outperform a market, injured index, ETF, obviously they don’t subscribe to seven investing some of them do. Why do people still trust them? Yeah, It baffles me, Maxx, I don’t really understand why people flocked to businesses that generally don’t do nearly as well as we do here at seven investing. Yeah, I

Maxx Chatsko  24:00

think it’s just a nourishment. Right? It’s like, everyone thinks that’s what you do. When you’re an adult, or you reach a certain point in life, you’re so close to retirement, I need to have someone who knows what they’re doing manage my money. And oftentimes, that doesn’t really work out. So well. You could have probably done better on your own or dare I say with seven investing. So I think a lot of it’s just, you know, these habits that we have in society, and, you know, maybe you’d be better off without some of those.

Unknown Speaker  24:25

Magic, Matt Cochrane, you wanted to chime in as well here.

Matt Cochrane  24:28

Yeah. The other thing I’d say is, is as an individual investor, if you put a little time and effort into investing, you will often be able to outperform money managers, you have made distinct advantages. You don’t have to worry about like concentration risk. You don’t have to worry about like mandates that you know, or sec rules. You don’t have to worry about investors taking out money at inopportune times when the market drops, you can add money, instead of like often money managers are forced to sell at the worst times because their investors are taking out money. So individual investors. Thank you. have many advantages over money managers, and hopefully like with services like seven investing that helps them accomplish those goals.

Dan Kline  25:08

Sam Bailey, we’re gonna jump back to his upper cars. First question, why is the media displaying concern between growth stocks and Treasury yield, especially if the companies are growing and the economy is recovering? I don’t really understand this one, either. Steve Symington, you could weigh in first. And then I know Maxx Chatsko has some thoughts here too.

Steve Symington  25:25

So the media, let me let me find that one, again, media displaying concern between growth stocks and Treasury yield. So the idea here is that as Treasury yields and interest rates increase, it makes fixed income investments more attractive, and therefore, things like equities, and specifically, richly valued growth stocks tend to be less attractive. And I’d say it’s more than media displaying concern. This is something that you know, sort of causes a pivot sometimes from hedge funds as they kind of rotate into so called value plays. Not necessarily fixed income investments, but yes, those and and in sort of economic reopening place, but as we see some valuations kind of seemingly stretched for some of these high growth tech companies, we have kind of a contraction in their valuation metrics the premiums investors are willing to pay. Sometimes some of those contractions are definitely merited. And and some of the pullbacks kind of needed to happen in order for a healthy, positive increase in share price to continue. But I will say there are companies as as He notes that are growing and even as the economy is recovering, some of these high growth tech companies are winning for a reason. And I think more than anything, for a lot of them, it’s a healthy pullback, this sort of the the growth rates and some of the increases in share price were in the near term sort of unsustainable, and I welcome pull backs, and as a long term investor, and someone who invests with the intention of being a net buyer over the next foreseeable years, that’s something that that I think we should celebrate as chances to get in at cheaper prices.

Dan Kline  27:23

So I’m going to jump in before I throw it to Maxie, I just want to say one thing, I, I’ve been a media guy most of my life. And whether you’re a newspaper editor, or a cable, TV producer, you wake up in the morning with a big hole to fill, you have a blank newspaper, and I used to joke about this, but when I used to run a Sunday newspaper, the best thing that possibly could happen on Saturday is a murder or a fire because I got good pictures or a great story. So sometimes stories like this just get played up, because we look at something happening in the market, and we need to give it a reason. And there’s not always the level of correlation that the media is sort of conflating Maxx Chatsko your thoughts here,

Maxx Chatsko  28:02

I was just laughing every time you think Steve’s done talking, he somehow ropes and other three sentences together. That’s kind of I was waiting to chime in. And then he kept going. So everything that Steve said is true. But you know, just think about this at a high level, right? This isn’t happening in a vacuum. It’s not like growth stocks were just chugging along for 10 years. And now we all know, interest rates are going up by 10 basis points. And there’s this massive sell off. And that doesn’t make any sense. You either think back, I mean, we’re paying for certain growth, that like valuations that we wouldn’t have paid 18 months ago, right. So when the pandemic hit, interest rates went to zero overnight. So that forced a lot of money out of these fixed income pools of securities, rather, into other assets, like real estate or the stock market. So that helps to push up the prices of some of these other assets. Now, if interest rates are gonna go up, which is how the Fed typically combat inflation, you know, maybe some of that money is going to drift out of equities and back into some of those other fixed income, Securities and Investments. So it does make sense and it is possible to overpay for growth. So even though companies growing valuations still does matter. So you know, I don’t cover tech stocks, specifically, but at least in biotech, a lot of valuations in my mind are detached from reality, there isn’t revenue to go on, right? The fundamentals are a little different, the base it on the pipeline. And right now, there’s a lot of themes out there that tend to lift up a company’s valuation in biotech for a drug developer, and they haven’t actually earned they don’t have clinical data, or they’re not mature enough point in in development to really have earned those valuations. So I do think investors have to be a little more cautious in biotech, right. And this goes back to what we said in the beginning develop a thesis, your thesis shouldn’t be genomics. That’s not a thesis, that doesn’t mean anything, right, you actually understand what the company is doing. There’s a lot of genetic testing companies, a lot of genomics companies, a lot of gene editing companies, so you have to differentiate between them to find the winners for the long term.

Dan Kline  29:59

You’re Watching a seven investing now I am of course, Dan Kline host of the program. I didn’t get to host the program at the beginning because my computer went a bit kablooey. But we are pushing along. I think my computer went kablooey Simon, because we have a marathon. So many of you are subscribers, but some of you are not if you’re not a subscriber on the third Friday of every month at 10am, we host a call for new subscribers. And that’s to talk about the service. Real basics on the stock market. Where do you invest? How do you use our website? Then at 11? o’clock? 11 to 1230 we segue into a call for members in that call. We take specific questions about our stock pics. So sometimes in the live show, you might think we’re ignoring your question. A lot of times that’s either because something is a pic, it was a pic. We just talked about it for members, we’re considering making it our pic next month. So we sort of have we have some hard and fast rules. And we have some looser rules where maybe we don’t take your question just because we might be thinking about making that a pic. And we don’t necessarily want to give something away that we’re going to share with our members. But Simon, if people want to join seven investing, we make it hard, right? You have to battle a dragon. There’s a whole quest you have to go out. No, we don’t we make it very easy. Simon, tell the people how they can become a subscriber.

Simon Erickson  31:17

Well, I’ve got my piece of paper here just so I could get the correct number, which is actually 18 companies we just gave updates on earlier this morning for subscribers. So just like you mentioned, we talked about the nitty gritty of the recommendations themselves on that subscriber call that we host on the third Friday. And if you want to join to answer your questions, super easy seven investing comm slash subscribe is where you can sign up. And even better if you’re kind of curious about those 18 companies we gave an update on, which included our March recommendations for this most recent month, Dan, we actually are going to give a complete recap of that we’re going to give our most most intriguing ideas, we’re going to compile that into a content piece include the entire video from that call for subscribers. And so if you sign up today, you’ll have immediate access to that when we publish it on Monday morning, the video, the transcript and then the most intriguing ideas altogether.

Dan Kline  32:04

So we’ve got a few minutes left in this call. And what we’re gonna do is we’re each going to pick one question from ones we haven’t answered there. Then we’re going to close out with a question from our very own marketing guru JT Street. But I’m going to take john colognes question if you want to bring that up. Sam. Sam, I know we’re keeping you on your toes and busy here with all the questions and trying to find them. But john says Dan often refers to the possibility of the cruise industry recovering, but only refers to Royal Caribbean and carnival. But what about Norwegian, so I don’t track Norwegian. But generally all the cruise lines perform these three cruise lines performed roughly the same, I would expect Norwegian to do well as well, they’ve been a little slower. So is Carnival really royal just announced today while we were on air, that they’re going to be doing seven day cruises out of the Bahamas. So theoretically, Americans could fly to Nassau and then get on a seven day cruise. Now that’s obviously not going to be a full reboot of their business. But they’re cruising in Singapore, they’re cruising out of Israel, you’re going to see restarts in Europe in May and June, I think you’re probably going to see the US in July, they also decided that they are going to require vaccines. That’s a bit of a controversial decision. But that being said, I always expected that to be the case. Because if everyone has a vaccine, anyone under 18 will, will have to take a test to make sure they don’t have COVID because they can’t get the vaccine. But in general, you’re going to see a slow recovery. And I would expect that to be royal Carnival and Norwegian but I don’t dig as deeply into Norwegian. So Maxx, I will let you go first and taking the two 5g questions if you want to bring those up.

Maxx Chatsko  33:41

Yeah, I don’t know which one Sam is gonna bring up. There we go. Alright, so a couple people have asked about parallels to you know, 5g, being all the hype now, do I see a similar phenomenon happening in biotech, you know, after a post COVID world, we’re going to be more inclined to invest in some of these newer technologies. And again, this touches on some of the things we’ve already talked about. You know, I think that’s a tempting narrative to make. But it’s important remember, designing these things? Yes, we developed them in less than a year, which was amazing. But we also did that, because we had to, you know, all of these drug developers actually designed their vaccines within hours of receiving the viral genome in early 2020, the time consuming part of drug development is actually running the clinical trials in humans. So we made, you know, calculated decisions on how to accelerate those. That doesn’t mean we’re going to develop cancer drugs in 12 months. Now, just because we are in a post COVID world, it’s important to remember as well, you know, biology is incredibly complex. I know there’s all these cool and innovative things out there. There’s cell therapy, there’s gene therapy, you know, there’s CRISPR, gene editing, there’s going to be some failures in some of these, you know, therapeutic modalities. There’s going to be things we completely abandon that you can’t even imagine right now. You know, and there’s newer technologies just coming over the horizon. That might be things better than current cell therapy modalities are sometimes better than CRISPR gene editing. So you have to do remain grounded, you do have to, you know, be objective, don’t just try to invest in all these themes, if you if you don’t really necessarily understand what you’re investing in. So is there, yes, we’re getting better at developing all of these things. But it’s still gonna be complicated, you know, we’re not gonna we’re not curing cancer tomorrow, because we live in a post COVID world, and we have all these other new tools, it’s still gonna take a lot of time to develop a lot of these things. I also

Dan Kline  35:30

think Maxx that 5g is a great parallel because everyone has been chasing, like there’s some secret 5g stock that you’re magically going to pick out, when in reality is what’s going to benefit from 5g. It’s Netflix, it’s Roku, it’s Disney. It’s all you know, the major players in entertainment, you could argue that T Mobile will benefit. But you could also argue that T Mobile has a massive expense because of it. So I think a lot of times there can be industries that do incredibly well. And that doesn’t mean there’s necessarily going to be a lot of stock markets winners in that space. Steve Symington, I know you want to take luevano question? We are as we head towards the end here.

Steve Symington  36:06

Yes. says you guys are fantastic. Thank you. We love you, too. I appreciate your input, especially in the topics I do not specialize in. I was wondering if you plan to do conviction rankings for the existing recommendations in the future. Now, he’s talking about our recommendations on the seven investing scorecard for subscribers. Yes, we have started to do something like that actually, conviction rankings were actually just in the call that we finished just a few minutes before this live stream, we each chose a company from among our previous recommendations that we consider to be our most intriguing pick. And that’s an addition to the recommendations that we release on the first of each month. And we are going to find ways to make the article, the recap of those most intriguing picks every single month, in addition to our formal recommendations, more visible to subscribers, we are going to, to make that sort of an incremental value add for people now, especially now that we have a much larger list of recommendations on our scorecard. We want to try and help members kind of make sense of which of those wrecks that we like the most. So we’re doing that on a regular basis. Now,

Dan Kline  37:21

it’s also important to note that while we don’t tell you all that often to sell, if there’s a stock we’ve picked, and we’ve decided, you know, we own it, we’re happy to own it, but we don’t think it’s great to buy because it’s gone up 10,000% we’ll tell you that as well. Generally, when we pick a company, it’s because we believe in that company for a very long time. So we’re not going to have a lot of yellow lights or a lot of red lights. Simon Erickson, what is your last question you’d like to take? Before we get to Matt and then JT street’s question?

Simon Erickson  37:49

Oh, goodness. Okay. Let’s see, Sam, what’s another one we can put on here that we haven’t quite answered yet. Oh, bear with me, Dan. Let’s go ahead and go with Kevin’s follow up here. I think there was another question he added. Oh, there it is. Perfect. Okay, thank you, Curtis For a second there, Dan. I thought that your video is going to cut out and I was gonna have to do my best Dan Kline oppression, again, terrifying for me at the moment, the tomatoes were ready people ready to start throwing them. Kevin has to get a follow up about you know, great operating metrics sometimes separate the progress versus the height. Yes, we definitely agree, especially in cloud or software as a service companies, but other higher level industry risks that could cause the other foot to drop, which is turning growth to profits. Okay. Yeah. Great. So how about this morning, right? We just saw China and us go and kind of like this again. And we’ve been talking about that as a team. And what is that going to mean for apple? And what is that going to mean for Tesla, which now the Chinese government is saying, Hey, no more Tesla’s for government employees and things like this. I mean, stuff like that. You didn’t always have control over even if you’re a growth company. If you’re Tesla, if you’re Apple, if you’re a software company, you might have China, in your sights as a market. That’s very attractive, right? There’s billions of people that want your products out there. But on the other hand, we’ve seen Huawei. You know, I remember how that played out with with wireless kind of equipment. for that. We saw the tick tock, you know, the hosting of cloud based apps in the US versus China. I mean, some of these things you have to consider as risks, as investors and no one on the team is named Nostradamus, at least that I last checked, we can’t predict the future exactly how things are going to go. But I think that we do a pretty good job in our recommendation reports, of pointing out the risks, and being very objective about that being very truthful and realistic with subscribers and saying, Hey, this is something that’s on our radar, we’re considering this a high risk, sometimes a very high risk company. But that doesn’t always talk us out of it. I mean, Dan, or everyone on the team actually bought into the same recommendation this past month, which is very high risk. And this is the first time that everyone on the team has actually all bought the same company or own the same company, but we’re comfortable with those. That’s kind of how investing plays, you track things over time. You can’t know everything up fun all the time.

Dan Kline  39:59

Let me throw out a quick answer to m per Mars question while Matt picks something he’d like to talk about. Love Your Work, guys. Are you recording subscriber only calls? never find the time to the attend well quit your job. What are you doing? Just kidding. Yes, Steve, when are those available on the seven investing com website

Steve Symington  40:18

the Monday after the call, so that on Monday we will have a recording available with a full transcript and recaps including those most intriguing pics. So it’ll all be on there under our research section, we categorize them as company updates, because as Simon noted, we provided updates on 18 different companies during that call about an hour ago. So yes, they’re recorded and the following Monday, we do release them.

Dan Kline  40:44

And this plays into something incredible on the seven investing website, we now have Yext so after this show airs, Sam Bailey, our marketing director, and the director of this show, takes the transcript from this and uploads it to to otter, which is a service we use that that transcribes the show. And then somewhere between two and five hours later, we’re not sure how this decides how long it takes to process, I then go in, and I make sure that things like the company names are clear. So these aren’t going to be 100%, perfect transcripts, but you can search on our website. Hey, I think Dan talked about Norwegian Cruise Line on the show, I’d like to hear that. And you’ll be able to find that 99% of the time, we do transcripts for all the video we shoot. And again, it’s not perfect, but it’s really useful, even if it just helps you find where in the show so you can go back to listen to that section. But we are getting closer to the end here. Matt Cochrane, which question Did you want to feel here?

Matt Cochrane  41:39

Oh, there’s a tirth p question on big tech companies that they have, like Facebook, Apple and Amazon have been range bound in the last six, eight months, while the overall market rallied, what can that imply? Well, like? So there’s, there’s two ways to answer this question. And the first thing I would say is like over the last year, Apple and Amazon have basically doubled in price, and even Facebook with all the questions, any trust concerns, it’s faced, it’s still up to 66%, overall, from from one year ago, today. So like, a lot of time, most of those gains, though, those were through the early part of the summer. And, you know, after a big run like that, especially for big companies like this, you know, it’s gonna take a while to kind of digest those gains, if they were justified in this case, I think they, they probably weren’t justified, but like, you know, after big runs, like don’t, you know, stocks don’t always go up forever. A lot of times, it’s two steps forward, one step back, three step sideways. And that’s what you’re seeing now and the big picture to like, so, but a much larger perspective, like, like, don’t worry about price, move it over six to eight months, like, you know, like, find great companies. And over the long term, those companies tend to do very well in the stock market. You know, as long as the businesses are performing well, and I would say in all those cases, the businesses are performing well. And that’s what you should be concerned about don’t don’t necessarily worried about short term price movement. And I consider six, eight months short term price movement. You know, last year, all those stocks have done well, you know, they had great runs. And like I said, then sometimes they go sideways for a little bit. That’s just the nature of the stock market. And just focus on the long term if those companies are performing well, a hold and, and, you know, I own two of those three companies, and I’m holding, I don’t have any plans to sell those two of those three. And, you know, I would like to add at opportune times that maybe this is an opportune time for them. But uh, don’t worry about short term.

Dan Kline  43:36

We’re gonna take one last question from our very own JT Street. And then for what we’re watching, we’re gonna talk about healthcare as the tech world’s New Frontier that’s gonna be led by Simon and Maxx because there’s not a lot of detail in the script on where we’re gonna go on that one. But our very own JC St. He’s part of our marketing team. He asks, from an investing perspective, when do you forgive a company that is trying to turn over a new leaf after a scam, but a scandal, a company that has potential but may still be dealing with restructuring debt from paying off a class action lawsuit? For example, I will let Steve Symington take this because he’s largely going to be shut out of the next segment.

Steve Symington  44:10

When do you forgive a company trying to turn over a new leaf after scandal? I think, actually, I really, really like some of your thoughts down when we were talking about this before you forgive a company if they’ve made legitimate changes in response to that. I think it’s, you know, there’s you know, if it’s if the scandal is like fraud, that’s really hard. Because, you know, it causes you to question the integrity of management. So the there there are times when scandal is virtually sort of unforgivable as an investor, but I’m looking for significant, meaningful, actionable change before you know you’re actually handling You’re forgiving a company like that, and you’re willing to continue holding them over long, you know the long term. Because you know, I’m thinking of this as though it’s my own business because we act like we are part owners in a business, because that’s what you are when you’re buying a company like this. So think if this were my business, would I be willing to continue owning this,

Dan Kline  45:21

I would almost always want to see a change in management unless for some reason the scandal had nothing to do with management. But it’s if you’re the boss, you’re kind of the boss no matter what it is. So I’d want to see them bring in someone who brought credibility, and who could clean house, you know, companies, companies do come back, but most scandals, it’s hard to come back. Samsung is a company that came back from a scandal chipolte lay, I would argue, yes, but I actually feel that chipolte late scandal was overblown, it was, you know, 135 people got the stomach, the stomach albies it was not a it was not people dropping dead because of their burrito. But we’re gonna we’re gonna pivot now to what we’re watching as we move towards the end of the show. And all I have here is a headline healthcare as the world’s next front as a tech world’s next frontier, Simon Erickson. What is it? You’re watching here? Yeah, Jen,

Simon Erickson  46:13

we might not have a whole lot of time to talk about this. On today’s show. This is really what I like to call a to beer conversation where you and I can sit down and we just hash it out for a couple of hours. But just to kind of give my overall thinking on this, because it’s very interesting to me, I spent this week at South by Southwest, it was online this year, so I wasn’t having breakfast tacos in the morning. And then beers on Sixth Street in the evenings, which is a little different, still have the beers in the evening just wasn’t on Sixth Street. But the the, the overall kind of takeaway is that there is such an interest in tech companies getting involved with with healthcare, like every tech company, whether it’s alphabet, a really large company, whether it’s a small tech company that’s got wearable devices, wants to get involved in the healthcare industry. Why? Because we’re spending $4 trillion a year on health care. And all of these companies are saying, Hey, I can do that a lot more efficiency. Let me unleash the AI on this. And so we’re already today starting to see wearable devices that can monitor our sleep habits and put those into an app, they can monitor our blood pressure or our heart rate and kind of you put that into a fitness app. And even more complex things like monitor our insulin levels and tell us okay, you need to you need to take a shot now, because this is going to be healthy for you. And it’s always been kind of framed as good for the consumer, right? Oh, we want you to be healthier, we want you to be more in shape, we want to make sure that you’re doing things on your own terms. And I think that kind of a dystopian future of this, or at least where we might be headed for this is what happens when this nudge starts happening from insurance companies, from employers from whoever else would have access to all of this data. That’s very interesting. And you know, are you going to give get higher insurance rates if you’re not being healthy? Are there going to be society pressures or government pressures on now that all this information is out there? What is completely protected in terms of privacy? versus what do you want to be available for the AI to make decisions off of because we know that more data leads to better AI trained algorithms. And so just kind of thinking this through, it’s fascinating that you’ve got a almost $4 trillion industry that has every large company that’s a tech company interested in, you’ve got doctors that really want to help outcomes, and you’ve got just data that’s overflowing that’s available, but we don’t know how to frame these bigger picture questions. And so that’s how I can tee up the to beer conversation, and probably the 25 year conversation, because it’s a much longer conversation than that, about where is the future going to be for tech and healthcare.

Dan Kline  48:42

And we are definitely going to focus on South by Southwest in some of our shows next week. But this has been a long show. So I want to throw this to Maxx Maxx privacy is something you’re very concerned about. I know, I would love to be able to tell my watch. My Apple Watch is pretty much my boss in terms of movement. But I’d love to be able to tell my watch, hey, if these warning signs happen, could you please call my doctor, you know, like, if my heart rate goes to 210, for 30 seconds, and then falls to 20, that’s probably a really bad sign. So whatever it is, I’d also like my watch, to be able to tell me when to take a drink when I need more sleep, whatever it is, but obviously, if your watch records that that information exists, how do you feel privacy is gonna play a role in this?

Maxx Chatsko  49:24

I think we would need to address some of those, you know, privacy concerns through just better legislation, right? I mean, regulations always kind of lag. Innovation, right, by however many years. So we would probably need to address that. It seems like the industry is taking steps, maybe as an olive branch to kind of lower the temperature for some of these antitrust insights going on right now. I we saw like Apple’s taking a big stance on privacy of their customers. Google’s getting rid of like cookies for its ads for individual tracking. You know, so those are interesting things to keep an eye on and hopefully the privacy tech industry develops. It would be Huge for healthcare is going to be required. I think we’ve already seen that trip up other things like, you know, IBM Watson. So yeah, it’s an interesting, it’s definitely a big opportunity. But um, you know, again, maybe just to play devil’s advocate, my, my colleagues here, no, I do that to a fault sometimes maybe but uh, you know, you have to, we might have limited insights into health based on, you know, external things we can detect, right, your heart rate is valuable, but how valuable is it? Can we actually correlate that to other health conditions? Maybe we could, if we had a ton of data all the time from, you know, millions of people, maybe we would find things that we didn’t know, that we don’t know. Now, sleep is very important for health. There’s a good book actually called why we sleep as written by Dr. Walker, amazing book, I recommend it to everybody. But sleep is actually the number one indicator of whether or not you’re going to develop dementia or Alzheimer’s. So we can actually detect and predict if someone’s going to develop Alzheimer’s, based on their sleep patterns many years in advance, that’s not something you see very much, right. All these pharmaceutical companies are chasing some wonder drug, it’s gonna magically reverse or slow it, maybe it just comes down to sleep, like we don’t even think of it that way. So maybe some of these wearables can help in those areas. But again, I’m always like, trying to combat in my own framework and analysis is this technological hype? I always ask that question. Try to remain grounded and objective. So it’s very complicated privacy to even need all this data is very valuable. So but definitely big opportunity there for for some of these big companies. But Maxx if I sleep, I’m going to miss something. And that’s, you know, I

Dan Kline  51:32

I’m not a big sleeper. So now I have one more thing to worry about. Simon, again, we’re gonna spend a lot of time on this next week. But was there anything in the healthcare space at South by Southwest that just wowed you, or, or sort of a big takeaway, because we know this is coming? We’re starting to see your watches. You know, I have the Fitbit watch that can track your mood and your sleep? And I didn’t find that worked all that well. But I think we’re moving into that world. What did you see at pretend virtual SXSW? Yeah, the

Simon Erickson  52:01

big thing is exactly like Matt said, it’s like, what’s the quality of the data that you have access to? Right? Okay, it’s great. You can monitor your heart rate, you can get some other kind of peripheral data from biometrics. The real interesting stuff is, Does Google get embedded with the electronic health record? Through the hospital? So you can look at patient data and start using AI on that? That’s the big question of how far is that? What was the Google Nightingale? I think the project a couple of years ago, they actually got some data from essential healthcare. And in Kansas, I believe, Midwest United States. I mean, are we going there? Or is it still gonna be Fitbit? You know, wearable devices? It’s great. It’s consumer facing the big, big question, Dan is is how high of quality do AI and tech companies have access to?

Dan Kline  52:42

I am really excited for the ability for aggregate data, we’re seeing Apple ask you questions, can we track this and put it into an aggregate? And they might be able to find things out? Like, hey, how come there’s a higher rate of, you know, high blood pressure in South Florida? Well, maybe because it’s always 92% human here. But you know, they’re gonna find things out by being able to track this that could benefit us. But with that, we’re nearing the end of the show here. And we’ve all been at our computers, I’ve been sitting under three very bright lights since 10am. So I am not normally this red. I am not probably sweating this much during seven investing now. And we’re going to do it again. We’re going to be back later to record our team call. That’s where we pitch each other on our stocks for next month.

Unknown Speaker  53:22

If you’re a seven investing member, we released that Stephens at the eighth of the month we released those calls.

Steve Symington  53:28

Our deep dives. Yeah.

Dan Kline  53:29

So that’s basically you can read our recommendation. But if you really want to see us passionately talk about the stock layout all these amazing slideshows that Max has helped us with, you know, or fumble to get the slideshow up, as is usually the case with with mine. You can do that if you’re a member to become a member sam Bailey, let’s share it one more time. That is seven investing.com slash subscribe. And Simon right now there’s a little secret, we’ll say it quietly? Is there a code you can use to get a discount just whispered because you know, we don’t want to give this away to everybody? Is there a code you can use to get your first month for $10? Or your one year subscription for 160? Not $170?

Simon Erickson  54:08

Yes, we have a lot of affiliates that are out there. Or if you wanted to share your own referral code as a subscriber for anyone that will give you $10 off of their first order. And even better an extra special secret Dan, you get a free month for sharing the code if you’re a subscriber as well. So even better than paying for seven investing, getting access to our stock picks, not paying for seven investing and still getting access to all of us.

Dan Kline  54:30

With that we’re on the top rope. Let’s hit our finisher Sam Bailey, thank you for that. I want to preface this a little bit leave this upset why I do it. I picked these four companies because I can make an argument that all of them are good investments. This wasn’t a sort of 2300 people voted in this poll. I just wanted to frame it a little bit. Which of these are you least interested in investing 34.8% said Bitcoin 27.7% said Tesla 11.2% since c limited and 26.4% Said Mercado Libra, I would personally go with Tesla. And it’s not because I don’t believe in the company, but the valuation is really high. And the CEO is prone to doing things that could eliminate value. So that scares me quite a bit. Matt Cochrane is one of these that jumps out on your list that you wouldn’t want to own.

Matt Cochrane  55:20

My audio is cutting out there, I’m sorry.

Unknown Speaker  55:23

We will go to Steve Symington. Steve, is there one of these that you wouldn’t want to own?

Steve Symington  55:28

I mean, I wouldn’t say wouldn’t want on any, any of the four. But I’d say of the four, I’m least interested in owning Mercado Libre. And it’s not because it’s a bad company. It’s because I think maybe there’s better stocks I can put my money to work and, and Bitcoin is increasingly intriguing. And, you know, C Ltd, is a really interesting company. And I own shares of Tesla. So obviously, that’s not that’s not the one But yeah, I guess I would, you know, if I’m forced to choose between four decent options, I’d go with with option four.

Dan Kline  56:01

I would just go with all of these that these are all things I’m skeptical of. But whether it’s our partnership with crypto EQ, or we’ve learned more about the Bitcoin world in the cryptocurrency world in general, whether it’s our friends in the investing space, our friend, Danny venna, is passionate about Mercado Libre, and we’ve talked about this, you know, over virtual cups of coffee, and as many of us, you know, are passionate about sea limited and have other things there. Simon Erickson, as we close out the show, I’ll let you weigh in. Is there one of these that strikes you as I’m not that interested? Oh, gosh, I’m

Simon Erickson  56:35

interested in all of those, Dan, those are great options. I love the way you framed. It’s like, hey, which are you least interested in with these four great options. like Steve said, If I had to pick one, I’d probably pick c just because of the oversight that Tencent has on that organization. But I do like every one of those pigs.

Dan Kline  56:49

Maxx Chatsko. I’m not entirely sure you care all that much about this question, but I will give you a chance to weigh in. Is there one here that jumps out to you? Or are you You’re young? Do you own a bunch of Bitcoin?

Maxx Chatsko  57:00

No, I actually don’t know anything about the sea or makhado Libra. Let me know how I’m pronouncing those right now. That’s pretty embarrassing. So between Tesla and Bitcoin, I would actually rather own Tesla than Bitcoin, even though I think Tesla’s pretty overvalued. So maybe Steve’s ears are perking up right now.

Dan Kline  57:16

Could I pay for a Tesla in Bitcoin?

Simon Erickson  57:18

Of course, that’s what Ilan stocking Bitcoin on his corporate treasuries to enable. So maybe that would get Maxx more interested in testing the future where you can pay for it in Bitcoin?

Dan Kline  57:27

With that, we’ve come to the end of the program. If you’d like to get in touch with us, you can email us at info@ 7investing.com that has questions about the service questions about your membership questions. If you want to be a member, you know, recipes. If you want, Matt can send some of those over, you know, generally not questions about specific stocks, we tend to handle specific stocks, either on the live stream here or on our members only calls, especially if it’s something we’ve recommended or something we’re thinking about recommending if you want to engage with us publicly, and we love doing this, we appreciate that 2300 people voted on our poll, that’s more than you get for like popular radio shows in local market. So so that was a big deal. But if you’d like to interact with us on Twitter, that’s @7investing. And all of us see it every one of us has access to the account. We of course also have our personal accounts, but we very much appreciate especially those of you that have been with us since 11 o’clock or even 10 o’clock this morning if there was a new member that stuck around for the subscriber call and then joined us through this but with that Monday, we will be Live from Las Vegas. I will be live in Las Vegas. The rest of the team will not be I might be in a hotel room, I might be in a Kinkos We are not entirely sure. But that being said, we will see you on Monday.