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Flagship Pod: FB Gets Crushed, Crypto Winter, Gambling Stocks, Volatility & More!

market & industry analysis Feb 06, 2022

In this week's podcast we're bringing you a live recording from our conversation earlier this week. We discuss everything from why Facebook is crashing to if we're in a crypto winter and more.

If you'd like to listen live and ask us questions throughout the next live session, just join us next week at 2:00pm PST // 5:00pm EST every Thursday.

 

Peter Starr:

And now coming to you live from our coast-to-coast trading desk, this is the Flagship Pod, a weekly live podcast filmed in front of a live discord audience where we talk about all things the economy, the stock market, and the various market forces affecting the world around you.

As always, I'm your host, Peter Starr Northrop, bringing you this time a really, really just stacked show. We've had a wild volatile week, a lot of ups and downs, mostly ups followed by a brief down today. A lot of really great tech earnings we missed, a lot of amazing, interesting news coming out of Facebook as they face the reverberations of the Apple privacy situation. And then what's going on with volatility in general, what's going on with energy stocks, what's going on with things like DraftKings, is it still dip season? What is going on here? Lots of stuff to cover in the next half hour folks, so I'm just jumping right into it.

As always helping me cover that, joined today by Justin Kramer, chief analyst, CEO, co-founder here at moby.co

Justin Kramer dude, hell of a week, man. What's going on? How are you holding on in this very volatile situation?

 

Justin Kramer:

Yeah, every week seems to be crazier than the next. The week before it was down, this week is up, and today is another down day and we'll see what tomorrow brings us. But the volatile times are not ending any time soon. It's been entertaining to say the least, although obviously certain portions of the portfolio are hurting, but it's just par honestly for the course.

 

Peter Starr:

Exactly, it just adds drama to everything too. It's one of those things where you are consistently trying to add to your positions over time as opposed to thinking, oh, the market's down, I'm doomed. No, no, no, no, if you are thinking you're doomed because the market is down now, your time horizon is all out of whack, my dude. And so that's the whole point of conversations like this audience is to help give you the confidence to maintain your monthly investing cadence, make sure you're adding the right positions to your portfolio. Not necessarily at the right time, but make sure you have that perspective.

But let's get into the market news, Justin. I guess the main thing is market is down today, but the contagion that kicked it off was this absolutely massive Facebook earnings call yesterday evening when they essentially announced hey, we're going to be missing out on 10 billion in revenue for a bit here. Our users are down, our active users are down, everything's down and so it is the single largest day drop in value for any company, I don't know if in history, but that's one of the headlines I saw. $237 billion of value gone. Absolutely just nuts. Just thinking about how many companies just got wiped out if you wiped out $200 billion of value.

What is going on with Facebook, Justin? Is this going to keep happening as they face losing out on all of the advertising revenue from being able to track people on iOS and all of that or is there something deeper going on here? What are people missing when they think about the Facebook conversation?

 

Justin Kramer:

Yeah, we did call this out back in October. First off, Facebook has 40% of humans on Earth using their platform. To continue growing 10%, 20% when you have billions of people using your product is literally impossible. So growth was inevitably going to stall, but what's really changed right now is this is the first time in 18 years that they've actually had no growth. Users have more or less stayed exactly the same and they're losing a lot users to other platforms like TikTok.

Pair that with real issues on the advertising side, which is how they completely monetize their platform and honestly, it's kind of scary what we're seeing right now. Again, we called this out back in October that this was a possibility and now it's really starting to play out. I would be nervous for the company going forward. They obviously have more data and more technology than 99% of the other companies out there, so it's not like they're going to go to zero tomorrow, but we might be watching, as we speak, the actual peak of Facebook.

 

Peter Starr:

Peak Facebook dude, which is insane. There's so much to unpack there too when you think about all those factors there. I also just want to quickly, not gloat, but just also point out that not only did we point this out on the analysis side on over at moby.co in October, we also pointed this out every single day when we went live on TikTok.

If you don't know audience, in addition to this interview I do with Justin every week here on Discord, I'm also going live giving my unfiltered thoughts. Not as intelligent as talking to Justin, just talking about the market every day over on TikTok. It's been going pretty well and every single day I've been like, "Facebook's going to be the contagion." That Facebook earnings call is going to be a disaster and I love being right, but what's more amazing about that is something you pointed out on Twitter Justin, where their users are going down while TikTok usership and also creatorship on TikTok is skyrocketing despite the fact that if you look at the numbers, it's really awful being a creator on TikTok.

TikTok is the most insane and wild virality platform known to humankind, but you get paid, what is it? 10 cents on the dollar that you would get paid if you're on Facebook being monetized by Facebook's various monetization efforts. So if you are a creator, you're having a much better quality of life experience posting to Instagram, posting to the core Facebook platform considering you're making roughly 10X what a TikTok creator is. And it's comparable to YouTube too, though as a YouTube creator you make a little bit more than even Facebook. It's amazing that TikTok is seeing this kind of growth. TikTok obviously isn't a publicly created company here in America, I don't think. Someone call me out on that. But the main thing is is thinking about sure, TikTok has this insane growth, but unless they start really serving their creators, it's going to be a really interesting dichotomy here.

Getting beyond that, where are all these users going? They're going to TikTok, it looks like they're also going to Snapchat too. Here's the shock of the quarter for me, Justin: TikTok's stock has popped 57% today off of a brilliant earnings call where they finally, on a net adjusted basis, had a profitable quarter. Their earnings per share was up 22 cents versus 10 cents expected. The revenue last quarter was 1.3 billion versus what people expected less than a billion. Their active users are growing massively. They had 319 million users as opposed to about 300 million, and their average revenue per user is actually up to about $4.

So even though Snapchat is facing the exact same market forces that Facebook is, they are thriving and they are a much, much, what am I trying to say here? Stable metaverse play than Facebook. If you look at all of the ups and downs that Snapchat has had, I know I'm just hitting you with these numbers right now Justin, but looking at this, if we hit peak Facebook, could we see a really, really sick growth run for Snap moving forward?

 

Justin Kramer:

Yeah, it's definitely possible. Ultimately, Snapchat is going to arrive at a lot of the similar issues that Facebook is, which is around privacy regulations, Apple's non tracking new software that they rolled out last year with iOS 14.5. Listen, at the end of the day, if they're growing, that's great, but they don't have the scale that Facebook has and they don't have nearly the same technology and they're battling the same headwinds.

So in the short term, I'm not surprised that advertisers are leaving, going to Snapchat, going towards other mediums, especially with a lot of the younger generation using Snapchat in addition to TikTok. So I think a lot of it's chasing where the users are going whereas Instagram is what's keeping them afront in the social media front or Facebook. But from an advertising attribution and targeting perspective, they're going to be running into the same issues. So maybe in the short term over the next year it's good play, but in the long run, I think Snapchat's going to continue facing a lot of the same difficulties.

 

Peter Starr:

Yeah. If anything, this is just the market being like well, I just took all this money out of Facebook, I got to put it somewhere. It might be these two factors playing off of each other, right? A lot of people see the market as a zero sum game and so sometimes market sentiment means I pull money out of Facebook, I put it into a Facebook "competitor." And you can make an argument why Snap is a much stronger metaverse play than Facebook, despite the fact that Snapchat hasn't made any kind of concerted announcements around their plans for AR in the metaverse. They just are the OGs in the augmented reality space and therefore, have a bit of an advantage there. But it's going to be really interesting to see exactly what they do with that advantage and if they make a metaverse play, unless the whole metaverse issue is just a head fake just to keep Facebook's stock value up at peak Facebook before things go away.

Either way, I don't want to talk, I don't want to live in Mark Zuckerberg's head the entire podcast here Justin, so let's pull our focus back real fast. Let's get back to the market itself and let's just talk about what we've seen.

Across all of January, we had three out of four down weeks. Then last week, the last week of January, Apple single handedly saved the world and brought us back to growth. That growth cycle continued until today when Facebook ended it. And so when we're thinking about this, when I look at this volatility, what am I seeing here? Is this just what happens every earning season or is this earning season amplified just because of like all the uncertainty about the fed, not uncertainty, but all the worries about what inflation means, what raising rates means, what the asset purchasing program ending means.

Can you take me through that? How do we look at this volatility right now? And how should I think about it shaking out? Is there any specific pattern we should be looking for as we try to understand exactly what's happening with dip season?

 

Justin Kramer:

Yeah, I wouldn't look too much into individual names on why they're popping [inaudible 00:09:17]. Obviously there's exceptions: Facebook, Snapchat, a lot of them being the exceptions. But net overall, the sectors are moving in line with each other. If tech's going one way, most tech stocks will follow except for the market leaders, which we see Facebook deviating from Google and Snapchat and some of these others. But at a sector level, which is how you should be looking at it, the day-to-day volatility is more than expected. Feds raising rates, cutting back stimulus, investors are getting scared, they're flying towards safe money. These are just themes that aren't going away. There's a reason energy is the number one performing sector over the last 52 weeks, which I don't think most people realize. It's up 75% in the last 52 weeks and the next closest is financials at 33%. That's just not even close and the rest of the sectors are falling way far behind. Healthcare at number three and then so on and so forth.

 So people are looking for, and they look at Snapchat, it's like oh, it's up huge today, Facebook is down, tech is [inaudible 00:10:15] to make money. But what no one's talking about is that energy in some of these historically "boring" companies are far outpacing everything. They're beating crypto, they're beating tech, they're beating everything. And I don't think that's going to be the case forever. I'm not a long term believer in oil companies, and even for that manner financial companies, but in the short term in the current environment, these are companies that are going out to form. We've been saying it every single week for the last several months. I hope you've been paying attention, it's not rocket science, it's just like this is how the market reacts when the fed takes certain rates. It just hasn't been done in a decade so most newer investors just don't even know what's coming.

 

Peter Starr:

Exactly and I think one thing you mentioned a lot too was we had a good analysis last week. Can you kind of take us through the major energy players right now? Obviously we love ConocoPhillips, who else is a really strong play right now? Take me through the analysis you've done in terms of the best performers in this really strong energy environment?

 

Justin Kramer:

Yeah, so in the short term, ConocoPhillips definitely, they're up over a 100% in the last year, which is insane. Exxon Mobil, a company that I never thought I would hear come out of my own mouth is up over 120% in the last year. If you look at it, and we put an analysis out on this on our website very recently, the price of oil and gas relative to these stock price performance is basically exactly in line. So if you're betting on these companies, you're betting on oil prices to go up.

From what we've seen so far, they can continue going up even if inflation dips because the demand for oil is so high, so we think it'll continue running. On top of that, the other companies we're looking at is Shell. They're taking more of a green energy stance, which we like over the longer term. And then even something more risky that probably won't perform well in the short term but will do really well in the long term is companies that are looking towards clean energy. Plug Power is something we've been talking about for the last few years. They're moving towards hydrogen based energy. It might seem like hype, especially to a lot of newer retail investors, but these are energy companies we like over the short, medium and long term.

 

Peter Starr:

And Plug Power is a really exciting one because they're getting really close to that point where their hydrogen is cheaper than propane for forklifts. Not fully cheaper, but the fact that they can take advantage of credits. They're getting really close to the price point they need to be. So Plug Power is one I'm watching a lot too, so much that I made an actual whole YouTube video about that. You can check that out over at youtube.com/c/Mobyinvest.

How about Valero though, Justin? I feel like that's one that's new in our focus this week. And as we think about other petrochemical companies, how's Valero doing and how do they figure into your whole analysis about the energy market?

 

Justin Kramer:

Yeah, Valero is definitely, I don't know if I touched upon it before, but they're another energy company we're looking at. They're interesting right now relative to some of the other players out there. With Valero specifically, not only are they reporting great numbers, which is across the board right now, it's to be expected with energy prices going up, but their guidance, and that's really what we're looking for, is something that is going to keep them outperforming over the next several months.

So every single conceivable metric like free cash flow, EBIDA, all these like boring numbers that are actually important are expected to trend above consensus. Which for newer investors, if things are beating expectations, the stock is going to do well 99% of the time. So when we see companies like them beating historically and putting out expectations that'll be higher going forward, that's just a green light for us to go directly after them. So we think companies like them, especially with their biofuel based business, their jet fuel based business, are going to do really, really well in this environment. It's not going to last forever, hope you got the last quarter or two it as we've been continuing to invest in these companies, but it's still not too late so we still like it a lot.

 

Peter Starr:

And that's going to be the theme moving forward audience. What you're going to see again is a media and the way people talk about investment just be very dramatic. We're genuinely living in interesting times, right? And you need to really understand that as an investor, you need to be looking for these more boring companies. Right now, boring is beautiful. The media's going to show you a bunch of shiny objects that are either head fakes or potentially things that are going to go up and then go right back down as we respond to this volatility. Finding the stocks with good fundamentals, finding these energy stocks is absolutely huge. And I think you need to really keep that in mind: am I buying this stock because it's interesting, or am I buying this stock because it's a good investment? Boring is beautiful people, especially now more so than ever. We're back in a value market, get with these value plays, stay with them for a while and you're going to have a great time.

And then a quick aside, yes, all the people roasting me in DMS, I did completely butcher the pronunciation of Valero. You have to understand that I was raised in Tennessee and also Philadelphia so I have a very, almost Southern accent that's always competing with a regular Northeastern accent. And sometimes it comes at as really, really weird pronunciation. So there's your fun fact for the day. Jumping right in though, what's going to win today? Tennessee or Philadelphia? Who even knows? In the Superbowl, nobody. Moving on.

Justin, I guess one thing our audience is also concerned about in the middle of roasting me in DMS is how this energy situation plays out with our very interesting geopolitical situation. One of the reasons that oil prices are going up is simply because there's a bit of an energy crisis in Europe, there was a bunch of supply chain issues in 2020. And that energy crisis could get really exacerbated if we actually have a straight up conflict between Russia and Ukraine.

And so when you look at that, is that something that's going to affect energy prices across the board or is that just something that Europe has to worry about? How do we think about this in this weird uncertainty, geopolitical period? If bombs start dropping tomorrow, God forbid, I really don't think that's going to happen. I feel like Russia's posturing to prop up oil prices, but again, I'm not in the Kremlin right now, I can't tell you if that's true or not. What are your thoughts there though, Justin? If we saw like an actual armed conflict here, would that cause all these stocks to tank? Obviously you can't make a one-to-one prediction, but how would you think about that if something like that would actually break out because it's something on our minds as we think about it, specifically petrochemical stocks?

 

Justin Kramer:

Yeah, to say obviously if or not that's going to happen, obviously I have zero clue. No one has any clue except for Putin and a few other people. So obviously from a speculation standpoint, it's impossible to say. I agree with you, if I had to put my money on it, I would say it's not going to happen, but it's not an investment, it's a bet. But should it happen, obviously things are going to change.

So Russia's a major producer of oil, they have a lot of relationships in the Middle East with OPEC and a lot of the other petrochemical producers. So they invade other countries, there's war broken out, there's definitely going to be an influence. Pair that with the fact that not only are the fed in the US raising interest rates, but the Central Bank of Russia will be raising rates as well, although more dramatically to 1% raises versus 25 basis point raises. And that should drastically affect things, both from an inflation standpoint as well as a gas standpoint.

The demand for gas and oil, should they increase, in theory should go up and the supply, especially with trade routes and other things should be constrained even more, should go down. So I would imagine if, and to your point, this isn't a one to one deal, but should they actually invade, should there actually be a war, should they raise rates, a lot of should's, energy price stocks should continue to do well.

 

Peter Starr:

Precisely. Yeah, and that's just one thing we need to make sure is how does this affect the actual market if anything goes down and I appreciate putting all the things we can look out for. So we're going to keep switching around because again, a very volatile market leads to a very volatile podcast, so we're going to leave geopolitics and get back to the small stuff as we think about all these other trends that are happening.

And I guess one thing that our audience is concerned about with the latest rises is, oh shoot, did I miss dip season? Did I miss a bunch of dips to buy watching all the big tech stocks carry the market upwards? And I think there's a lot of dips that are still happening and I think there's a lot of stuff that's really interesting.And one that you keep pointing out that I keep forgetting to mention on the podcast is DraftKings. DraftKings is down about 56% from its all time high. It was down 75% a little bit earlier in the week, but it keeps being weirdly volatile.

And so when you look at this Justin, what's the deal here as we think about what's happening with DraftKings right now. Is DraftKings still buy the dip situation or is sports betting not as strong as it should be now that it's becoming more and more accepted here in the United States?

 

Justin Kramer:

Yeah, one thing I will fully admit is with timing, it's impossible. You'll never hear anyone say this but we definitely did get a little bit lucky in our timing there. We're not soothsayers, timing in the market is literally impossible to do consistently. We saw DraftKings down 75% from its all time high, it seemed like a no brainer for us to add to our position. We luckily called the bottom. Having said that it could easily dip it back down so we got lucky it keeps sliding down, easily. But over the long term, we're betting on the fact that legalization of sports betting continues to widen and DraftKings has the partnerships and have the reach in certain regions to be able to extend those relationships further.

And so when you look at New York, you look at California, you look at Pennsylvania, you look at Florida, you look a lot of the markets that people are expanding into. And specifically in New York and New Jersey, DraftKings has major wallet share. And the lifetime value of some of these customers relative to how much it costs to acquire them even with the ridiculous promotions that are going on right now, are a 10:1 ratio. That means that for every dollar they're extending towards buying customers essentially, they're getting, we're estimating it to be 10 in return.

So their investment, and it's going to hurt their company in the short term, is ultimately going to help beyond measurable amount in the long term. So we absolutely love DraftKings, the fact that we timed it at the bottom, great for us, pat us in the back, it was definitely a little bit of luck so I'll fully admit that. But if we like DraftKings last year, it's still down 50%, there's no reason not to continue liking it now. Even if it goes down, it goes up, who cares? This is a multiyear bet. Whether you get a 100% of the upside or 90% or 80%, you're still getting the upside.

Timing it on the bottom and then timing it on the top is impossible, no one can do it, I don't care what anyone says, it's proven to be impossible. So as long as you believe in that thesis over the long term, you want to put some in now, you want to put some in systematically. And say you're doing a $1000, say a $100 or $200 every month for the next 6 to 12 months, that's a great way to dollar cost average yourself in. This is a bet in the long term. So buying the dip is great, if you don't have the position, the more you wait, in theory it could keep going up. You're going to hurt yourself even if it goes the other way.

 

Peter Starr:

Exactly, yeah. And when you talk to investors, when you time those bottoms it is all about luck. So one of the major reasons you follow moby.co is we tend to be a little bit luckier than most other analysts. That's more of a joke response. But let's get into, I am amazed we are being as efficient as we're being. We are really just cranking out the points here. I didn't think we'd have time for this today, but we do.

Speaking of calling bottoms Justin, crypto. Obviously, crypto had just as much of a terrible drop as the NASDAQ did. We're seeing some volatility/recovery. Bitcoin is hovering more around, what? The 37-38K mark, right? Yeah, it's hit 37, got back up to 40 for a hot second. No, just shy of 40, I should say. And now hovering at 37. Ethereum is a whole mess. So when you look at this, are we in crypto winter right now? Is this a full on crypto bare market or is the whole thing, Bitcoin, just following the NASDAQ at this point?

 

Justin Kramer:

Yeah, it just looks following the marketplace. If stocks pop tomorrow and it's a prolonged pop in a positive direction, then I would be very surprised if Bitcoin and the rest of the crypto market didn't follow suit. It's a risky asset, so likely that's what would happen. It's obviously not guaranteed, but in the short term, I don't think we're in a position of we're saying we're in a crypto winter. This isn't 2017, 2018, the market is still very young, but it's not as premature as it was. The market has definitely matured a lot. You have real institutional capital in, it's not led by retail investors. You have actual projects that millions, if not billions of dollars are being thrown at them. So we're in a completely different place from that perspective. Having said that, there's not that many consumer applications right now of people using crypto at a wide scale to ultimately warrant these crazy valuations.

So it's a long winded way of saying I don't think we're in crypto winter, we're in a completely different place now. I don't think we're going to see a two year bare market, obviously it's possible. But right now, we really need to be aware of what's going on. It's a different environment and I think similar to DraftKings and how we feel about everything, if you love it now, this is a multi-year bet on the world changing on how it does business, which is VO blockchain technology. So if you're getting it at 30, you're getting at 20, you're getting at 40, you're getting at 50, in the long run if it's hitting a million a coin, it's all the same thing. So trying to time it is just like a suckers play, honestly.

 

Peter Starr:

Exactly. And audience, one thing that I'm really impressed with, I just finished animating this before we went live. I just finished a data analysis chart where I weighted Bitcoin and the NASDAQ together over the last five years and just ran the chart to see how they're going to perform against each other. And the one thing that's really awesome to watch is just how much Bitcoin in the last three years compared to the last 10 years has stabilized in terms of developing momentum in its price, i.e price changes take a little bit longer to happen in Bitcoin now.

And so you're literally watching the market mature, but at the same time as this market matures, you see these moments in 2019, and specifically in the last six months, where you can literally watch it follow the NASDAQ, which is really interesting to see. People aren't using Bitcoin as an inflation hedge with the way we thought they were, they're using it more as like an additional investment on top of their regular stock portfolio. So that's something we're going to be watching moving forward.

And then Justin, I guess that gets us into the rest of the crypto space. You mentioned how none of these have any real uses, that's why we're really excited about Web3 and DeFi, actual services which are going to be built on top of these blockchains.

As we look into that, as we think about that, what are some of the various like alt coins/DeFi plays that you're watching right now? What are the things you're excited about as we watch this market mature even more. As we determine if we're in a crypto winter or not, a lot of our audience is interested in adding to more smaller alt coin plays just to think, well, if I'm not going to make big gains in the big players right now this year, maybe it's my time to mention some smaller stuff. What are the things you're watching on the more alternative side of things on the smaller cap side?

 

Justin Kramer:

Outside everything that we always talk about in our site, like Avalanche, Polkadot, a lot of these alt coins that we definitely like, there's still bigger to your point. So for some of the smaller ones, they're all honestly trending in a similar direction, which is obviously down. Having said that, there are some other ones. Helium, we haven't had the chance to fully analyze yet, but it's a project we've been watching for a while. I don't think one sector really has had a positive return in the Web3 world, but Helium was the closest one. And it's a coin that we've liked for a while, which is a decentralized play on telecommunications. So that's one we've looked at and we're definitely going to try and write up. MakerDAO is another one, Avalanche is another one. Avalanche is still big, but these are some other plays that we like.

And then in addition to that, Peter, the video you did still hasn't changed, excuse me, the video still hasn't changed on how we feel about OlympusDAO. That's something we still definitely like. They're in a tough environment from a macro perspective right now. Having said that, OlympusDAO is still making a lot of progress. They just had a vote pass that would allow them to create an inverse bond that would basically just help them with their treasury backing. Small detail, but things that are just progress as we're tracking them.

So long story short, these coins are likely going to suffer, maybe these one off ones that are either being pumped or have really cool updates, but those are finding diamonds in the rough right now, honestly. It's, not a good answer, I'm sure for people who are looking for the next big thing, the timing right now is just really tough. The environment of putting money in and becoming a millionaire overnight wasn't going to last forever. And it may very well come back, but right now, it's tough timing.

 

Peter Starr:

Exactly and you're never trying to become a millionaire overnight. That's why you only had one example of that last year, there was that absolute mad person who managed to turn $1000 into a couple billion on the back of Shiba-Inu. That's only going to happen in these ridiculous meme coins spaces that you should just be avoiding overall.

On an anecdotal level, I'm still pretty excited about Olympus in terms of the way that they took this punch, especially considering that the biggest OHM Fork, TIME Wonderland, was revealed to be basically started by a scam person, like an actual convicted felon for financial fraud. And watching TIME Wonderland completely crash, and then have that news come out and kill it even further. OHM has kind of stabilized at just above its backing per OHM, which is a whole complicated DeFi thing, which has given me the confidence to double down. I just added to a lot of my AVAX back into OlympusDAO just to keep going. Because the cool thing about these spaces is the ridiculous wars we saw last year with APY, these unsustainable APYs, are over. Olympus is now stabled around 900-1000% APY year over year, which is really awesome to see. So that's why I'm excited about it moving forward again. That's still pretty high, it's not going to last for years or anything, but that's still awesome to be here early as they build up this protocol.

Either way, Justin, we've managed to cram so much into this half hour. Go us! I'm really excited. We have literally one minute left. Any final thoughts for me before we go ahead and end this out? Anything else people should be watching as we live through this volatility? What else is on your mind, man?

 

Justin Kramer:

Yeah, for people who are listening to this, whether it's the recorded version on Spotify, Apple Music, or on our website or people who are listening to us live, it's the same message that we've been saying every single week. So if you've been paying attention, I hope it's starting to resonate, but this volatility isn't going away anytime soon. You might be able to swing trade stuff here and there but a lot of that is just gambling. So we need to find companies and stocks that we fundamentally believe in in the right valuations. We publish on this three to five times a week and continue to have the same mentality and that's how we'll outperform the market.

Chasing these projects and chasing these stocks that are having these 50%, 100% swings, you'll make money here and there but in the longer run, I would say 9.9 out of 10 investors are losing money. So just have patience, building wealth is not an overnight thing. As much as you read the stories, CNBC is selling you fear and greed on becoming a millionaire overnight. This stuff takes time, you just got to find the right companies and stick with them.

 

Peter Starr:

Exactly and as always, that's going to be the point we have, that's going to be the best place where we feel like it's a good place to stop because that's the thing, the whole point of the show is to give you the confidence you need to consistently invest and to find those little places where you can add a little bit more juice to your portfolio, so to speak. But it's never going to be a get rich quick thing and it's not going to be anything that's going to be absolutely massive. This compounding interest game is the easiest game in the world, you just only get one shot to play it because it takes 35 years to play it properly. And so I hope that throughout these conversations, we give you that confidence to add as much as you possibly can to your positions month over month, over month, over month so that you have that confidence you can build that basis of wealth, a stronger one than you would've without us.

Either way audience, I really appreciate your time. If you like lives like this, we are doing them daily. It's just me solo over on our TikTok. We're also trying to expand with going live with an interview format on Instagram as well. If you want more in-depth analysis, check us out moby.co/go. We also have more in-depth video stuff over at youtube.com/c/Mobyinvest.

Either way audience, we've got some really cool stuff coming out next week as well. I'm really excited to take you through some other various macro forces over on our YouTube channel, you'll be seeing that from us soon. But either way audience, all I can say is I really appreciate your time. If you have any questions for us on the back end here, hit us up over at Discord. You can just DM me at any point, I want to make sure I answer questions as best as I can, or you can email us at [email protected]

Regardless audience, it's been really awesome talking with you today. I really appreciate your time. And as always, I'd like to leave you with peace, love and incremental gains. Everyone be well, thank you so much.