Chris Camillo for a conversation around social arbitrage and trading in this current world.
Chris, you've inspired a lot of people. We first talked several years back. You actually
sponsored a little competition that I was running for Fintwit, and that got me leaning into the
world of dumb money and just trying to understand what is this strategy. So excited to take you on
today to really talk about it and dive deeper into things. It's a crazy world right now. So I
think people need a little bit of this to understand and put their head back on straight
when it comes to investing. So let's get into things, you know, right off the bat. Can you
give people, everyone, everyone's heard your story, right? Turning a few tens of thousands
of dollars into tens of millions of dollars. But can you give a little bit more depth as to kind
of like your background in finance and how you really came to where you are today?
Yeah, I don't really have a conventional background in finance per se. For the most part,
I'm just a regular guy who's had a regular career. I've been investing since I was 13. I'm a self directed investor. I was really into stocks before they were cool. And, you know, in my day, no kids did that.
Right now it's like really cool to be into crypto and trading and all this stuff.
That said, my career was not in finance.
You know, like I just had a normal job and I wasn't making the money I wanted to make.
And I started investing for myself, something I call social arb today,
which I discovered as a kid, which is essentially just detecting change in the world and connecting the dots to investable opportunities that are going to either benefit or be harmed by that change that's taking place.
So, you know, when I say change, it could be like a shift in culture or a shift in consumer behavior.
It could be a product trend. It could be
a change in technology, which is kind of what we're seeing right now with AI. It could be a
geopolitical change. So the world's changing all the time and with change comes opportunity. And
I always say, you know, the larger the change, the more opportunity and the faster that change happens, the larger the opportunity.
So all you're really doing as a social arb investor is trying to surface that change in the world a little bit quicker than others.
And you're trying to connect the dots to investments a little bit quicker than others.
It's actually that simple. There's like no fundamental analysis. There's no technical analysis.
You're not even looking at stock price. You're really not doing anything super sophisticated.
It's so simple. It's just really kind of sounds dumb. You know, like we call ourselves dumb money
because that's a derogatory phrase that Wall Street and institutional
finance has been using for decades to refer to regular people like us.
And I think a lot of that is to create this smoke screen that, hey, only they can do what
And that for us to participate in capital markets, we have to go through that channel and pay them a lot of fees and rely on them, which is complete BS, obviously.
And, you know, having the track record that I just happen to have over the past 18 years, you know, I'll wear that badge of dumb money.
And you can call me dumb money and I'll say it proudly. Like, if this is dumb money, then great. You know, all of us should be doing this because there are very few people of any on Wall Street that have generated these types of returns over the past two decades.
And you truly don't need to have a financial pedigree to do it.
I have a couple of thoughts that come from that when I hear it.
One side is, do you kind of have to be willing to, you know, look wrong,
do something that is like
very unconventional and odd?
It's kind of like with Rick Barry, right?
the underhand free throws
and it was like nobody else would do that
even though they would do better
because it was just absurd, right?
I'm not going to make myself look like that.
And you're out here talking about saying,
hey, I'm going to read TikTok comments
the next two hours, right?
And making an investment thesis off of it.
Do you think you have to kind of be willing?
Is that the dumb money almost mindset?
So the majority of my alpha is surfaced off of what I call conversational data sets.
You know, conversational data set is a fancy way to say TikTok comments, because that's where most of my alpha comes from, is just reading thousands and thousands of comments on videos every night.
And the reason for that is that, you know, what do you do before you transact?
So Wall Street generally focuses on transactional data sets.
They pay millions of dollars, all the hedge funds do,
to get credit card swipe data. And that's how they get an edge on the retail investor, because
they have this data that allows them to peer into what products are selling, how companies are doing
days to sometimes weeks before earnings. So how do we as retail investors kind of get an edge on them?
Well, what do you do before you transact? You often talk about transacting. People talk about
what they like, what they don't like, what they're doing today, what they're doing tomorrow, what
they want to buy, what they're interested in. So conversational data is the bleeding edge data point. The issue of conversational data
is that it's highly interpretable and it doesn't cleanly correlate historically to financial data,
to earnings, to revenue. So, and the way that people speak is evolving so i actually started a company in the mid-2000
teens called ticker tags with my partner jordan and we sold uh conversational data sets uh or
the interpretation of of conversational data to hedge funds and banks and and we did this for years. What was really amazing is they were stunned
uh by how interestingly bleeding edge the data set was but they didn't really have the talent pool
uh even in the world's biggest hedge funds to really dive into this data and really competently
use it because it was so different from what they were accustomed to using.
And it was really awkward for them to say, hey, we're going to put millions,
tens of millions of dollars behind this particular trade because people are talking about this
in comments on a 19-year-old's video on TikTok. Like you're really putting yourself out there
if you're going to build a thesis around that data point.
There was just not a level of comfort there.
So that's an opportunity for us as retail investors.
We know the data set works.
Sometimes because it's so interpretable.
So you can give the same batch of comments to 10 different
people and they might interpret it 10 different ways. And that's where you just have to start
doing this. And yeah, you will make mistakes. And by the way, it's not as easy as what I'm saying.
I mean, there are like comments, man. Well, I mean, that part's easy, but there's a regimented process you have to go through to assess,
did I just surface something that most people have not really come across yet, at least in terms of
investors? And is the thing I came across really a needle mover for this company or this sector?
And even if it is, are there other things happening within this theoretical
trade window that are equal to even more important for this company or this sector than this piece
of information that I surfaced? So there's a whole process you have to go through and then you have
to try to assess, great, I just uncovered this due to these comments, all these people talking about this thing.
When do I assume that institutional and other retail investors will start to see this?
Because that would signal when that idea will hit information parity with the rest of the world,
and that would be the end of your trade window.
So if you're trading options, and maybe it's an earnings report, maybe it's some other thing, you can kind of assess,
okay, maybe I'll buy options that expire in two weeks or four weeks or six weeks,
based on when you think other people will come across that data. And when you think
that data or that information will be reflected in the price of that stock going up or down.
So, you know, I wrote about this in my book, 2010, Laughing at Wall Street, but Jack Schwager
in Unknown Market Wizards actually did a much better job than me even writing a whole chapter
on this in Unknown Market Wizards when he interviewed me called Neither. And the reason
why he called it Neither that the chapter is because
what I do is neither technical nor fundamental investing. It's something that's kind of different.
I'd love to double tap on your methodology there because it seems like there's a scale.
There's information across the board and there's information that is perhaps not enough, right?
You're looking at you're saying there's a bit of a trend here, but I don't think that this is a
trend that is actually going to move the stock in any way,
shape or form. Then you get to the middle ground, which is perfect, which is like, hey,
there's a lot of chatter around this. It hasn't been reflected yet into the stock. I see an
opportunity. And then I assume it gets to an end where it's, hey, everybody already realizes this.
Everyone's talking about this. This is not a social arbitrage play. Everybody sees it.
social arbitrage play, everybody sees it. How do you determine where you are on that scale?
How do you determine where you are on that scale?
It's not necessarily a science. Listen, you're looking for information that's going to
meaningfully move either the revenue needle, the cost needle, which affects margins, obviously,
or a reduction needle. The story I've told a million times because i think it's
pertinent is the whole you know the diy slime when kids were making slime at home and i i was able to
surface that really early and then i was back at the key ingredient in diy slime was white elmer's
glue why don't um about a two and a half percent revenue line for Newell Brands, which is a pretty small
piece of that company. So normally if you're like two and a half percent, that's not a needle mover,
but Newell Brands was such an old school company. By the way, that's the Rubbermaid became Newell
Brands, right? It's such an old school company that their growth rate was like two or three percent at the time.
So if you have a two and a half percent rev division, that's going to go up by 50 percent very quickly because they were running those Elmer's factories like 24 hours a day.
Right. All the white glue in the world was sold out. It was a wild thing.
sold out. It was a wild thing. So if you can get that big of a lift from one segment and the
company is barely growing by two or three percent, you could actually increase the growth rate for
the company that quarter by 50 or 60 percent, which is astonishing. And that's exactly what
happened to Newell Brands in that trade. And I was able to make, I don't know, 300-ish percent on an options trade that, you know, lasted a few weeks.
All because of a tiny little division of a company that was a boring company, making a very big impact on that company.
I love that explanation because you're also showing how you're like, there's not fundamentals, there's not technicals, but that's an awesome fundamental explanation that you just went down.
You're like, I broke down the company's revenue lines.
I then looked at year over year growth of the company.
And I saw that this 2.5% piece of it, if it moved, would significantly increase.
There is some fundamental work that kind of is some follow-up to the idea
or the thesis that you surface, but the core methodology is not, hey, I like this company
because they have better fundamentals than the world thinks or worse. It's like sometimes you'll
do some fundamental work to assess the degree that the thing is a needle mover that you found.
I want to talk maybe some concurrent things that are happening and just go over some of the thematics.
I did see one recently, which I didn't see anybody else talking about a trade off this.
You're the only one I saw the timeline.
I was like, I don't even know if most people over 25 even know what this is.
And you're out there pitching, pitching trades on it.
So how did, how does something like that come about?
Are you just like, you're watching streamers, you're seeing like clavicular clips.
I mean, you know, my core methodology is reading TikTok comments.
So I'm on TikTok hours a night usually.
And anything that people are talking about, I'm seeing.
So it doesn't matter what sector it's in
I'm seeing everything I'm essentially watching the world change and unfold in real time so
when looks maxing started to really gain traction I don't know four five six months ago
it was something that kind of got on my radar and I was like, wow, this is really big. And it's obvious to me that looks maxing is not just a fad. I think it's an actual durable super cycle trend that is going to meaningfully impact this next generation and you know privately I've been talking to a lot of my friends and network that
have skincare brands I'm like guys you you got to get into this world because this is just going to
be a massive massive tailwind for young men specifically that are going to kind of you know
adopt the concept slowly but adopt the concept of doing all these things to make
themselves look better. Because essentially, yeah, guys like Clavicular, who are kind of
the ambassadors for looks maxing, have quite honestly, eloquently communicated, and they do
on a daily basis, how impactful it is to improve your looks as a young
guy. I mean, it gives you more opportunity. It helps your career. People want to work with you.
People want to talk to you. Of course, there's also an element of this for, you know, dating and
all that stuff too. So it's fascinating to me. I haven't actually found any meaningfully great publicly traded trades on
this yet. I've been looking really hard and I haven't found any. And that's part of the process.
Often you will find something meaningful, but there's not a great trade associated with it.
And so the funnel as a social arb investor is massive because you're essentially
looking at a million things every day and you have a lot of starts, but very few trades fall
out of the bottom of the funnel where you found something that no one else or very few people
have seen yet or recognized. That thing is going to be super meaningful to one or more companies
and there's not a lot of other things happening at those companies going to be super meaningful to one or more companies and there's
not a lot of other things happening at those companies that would be more meaningful and
you're able to actually put a trade on it's not often that that happens it could be a handful of
times a year interesting yeah we got to figure out who's going to win this peptide war uh peptides
again that's another one that's a massive massive
trend that's that's a looks maxing trend it feels like kind of wrapped together a little bit
yeah looks maxing peptides health longevity uh they're all somewhat tied together for sure. And if we get into this, you know, this whole kind of post AI world where
we have, you know, age of abundance, right? You hear people talking about the age of abundance,
like how does that change humanity? I think we'll see even more of a focus on health and wellness as we start to have more time to
think about stuff like that. And we're not just grinding just to, to, to get housing, right. And
to get food, uh, like that, that's really what the age of abundance is all about. How we kind
of change our lifestyle to open up time and resources for things that might not have been as important
to the last generation that will be meaningfully important to the next.
So I want to rotate a little bit here into probably one of the biggest topics right now,
which is AI and talking about it.
And I just pulled some of, you know, quotes and things that you were looking at in terms
of continuing to want to double down on this area. One thing that you said was there's a massive effort to scare people out of AI right
now, AI trade, not buying the fear. If it breaks, I'll grind 24-7 during more capital and size up.
AI is in its late 2010s Tesla moment. Until you drove one, you didn't understand the EV shift.
Same now, if you're not building with AI, you don't feel the scale of what's unfolding.
And that quote is a little bit over a month old. And obviously, the markets have been
interesting right now with war and sell offs and clawed code, apparently just dropped something
and then all the tech stocks sell off 5%. But I'm curious to get a little bit deeper into here,
because I feel very similar specifically with AI, which is a time saver.
Yeah, I think if we go back to that Tesla moment, the only investors that truly appreciated Tesla at the time were individuals that actually had the opportunity to drive a Tesla, that experienced the quantum leap that EV was.
It's astonishing to me how many investors have really strong opinions about AI, and yet they are not really doing the work to engage and listen to those on the front lines that are actually using AI every day in their job, at their role, starting companies.
in their job, at their role, starting companies. And, you know, you could do one of two things.
You could actually hands-on use AI yourself aggressively. And I don't mean just using an
LLM like chat, but, you know, using agentic AI, building something, right? You could be a builder
and you could see firsthand how good or bad these tools are and how much value they're actually bringing to the enterprise. Watching, you know, comments and videos of engineers and developers that are deeply,
deeply engaged in these tools, either at the enterprise level or at the early stage company
level, and just, you know, on a weekly basis, seeing how their opinions are evolving on this
sector. And because the number
one thing you're really trying to find out right now, if you're having this debate with yourself
or others about, is AI real? Is it not real? How big is it actually going to be? Are we in a bubble?
What should I believe? It all comes down to one question, which is, will this technology be meaningfully value add to the economy and to what extent?
Is it actually meaningfully productive?
Will it meaningfully move the needle for all of the world's companies and the global economy?
And how long will that process take?
And if you can answer that question, nothing else actually matters.
And the best way to kind of wrap your head around that question is to engage deeply with
those that are using these tools on a daily basis. And for me, my interpretation is that
it's the biggest thing that's ever happened in our lifetime.
Like meaningfully bigger than the internet,
bigger than the computer revolution
that happened before the internet,
and even bigger than the mobile phone revolution or cloud computing.
These are all really big things. These were game changers that essentially created massive amounts
of wealth for those that both adopted the technologies and those that invested in the
technologies. And what I'm saying is that this is larger than all of those things. So this is the type of thing that you wait for your entire life as an investor.
And for every one of those things, every one of them,
there was a mountain of very smart people who were supposed to be in the know
who said that they were complete BS.
And they were not nearly as big as they were saying.
Like the internet was BS.
Like I lived through that.
I lived through 98, 99, 2000.
The number of people that were like,
this is just baloney, it's ridiculous.
Cloud computing, same thing.
Same thing happened when AWS is coming up.
Everybody was doubting it.
We're never gonna have everything in the cloud.
No one ever believes this stuff.
Even the early days of digital advertising,
which I was a big part of in my career,
nobody really believed it would, you know,
the concept of digital ads would ever be as big of a deal
as they ultimately are today, right?
Social media, same thing.
And AI, there's never been anything that's been more debatable because there is this like
wanting to hate it for various reasons, right?
The whole concept of displacing humans.
You probably see that in the TikTok comments.
I don't think that they love AI.
Definitely not. I think like any that they love AI. Definitely not.
I think like any other major change, it's scary, right?
And anything that's going to take jobs away seems really scary.
And if you've been watching my stuff, you know that I'm in the minority that I actually truly believe that this will create more demand for more higher level human jobs than we've ever had in history.
I'm not saying that we won't have bumps along the way.
We won't go through a period of time where a lot of people will be displaced.
And we are going to have to figure out how to take care of those people in that interim time and get them retrained.
I hope that we can make it through that period, whatever it looks like. Maybe we get lucky and that period doesn't even
really happen for any meaningful number of people. That's possible, by the way.
There are so many industry sectors, whether it's government work, union work,
sectors that are highly regulated,
sectors that are growing so quickly due to AI
that they decide not to let go too many people
because they're gonna hold on to them
and just maneuver them to other areas of growth.
But there's a lot, there's a thesis out there
that it might not be as bad
as some people are saying it's going to be.
But regardless, I think if we can push forward some number of years, everyone will benefit by
this. Like everyone will benefit. And I actually think this is going to be amazing for human jobs.
I know I'm in the minority, but I've been thinking about this every second of every day for the last
three years. And that's just my thesis that's what
I think so I am optimistic I'm not negative on this whole AI thing I think everybody wins as
long as we can figure out how to keep bad actors from blowing up the world right with AI so like
I am very nervous about that one thing like like the dark thing that ai will bring can
bring that is a legitimate concern way over my pay grade so like i'm not going to super worry
about it because i don't know how to resolve it but i hope someone does so i want to just talk
about how we actually then play this you have a pretty big position in Amazon right now, correct? Yeah. So I've had a number of really big positions over the past
three years that were all AI related. Right now, my focus is on Amazon. There's this thesis of the AI efficiency wave is what I call it, which is not going to happen
anytime really soon, but it will definitely happen over the next few years when all the
world's companies just generally get massively more efficient as they start to adopt AI in various ways. And if you look at the biggest beneficiary of the AI efficiency wave,
for me at least, it's undoubtedly Amazon, right?
Because they spent 20 years building up this global logistical infrastructure,
which was unbelievably expensive.
And a lot of that infrastructure is kind of poised to become
much more efficient with both AI, automation, robotics, this entire world that's about to
unfold. And you don't necessarily need to like wait for it to play out because at some point
here in the next few months, the next few years, I think capital markets are going to recognize
the degree to which Amazon is going to be a beneficiary of that AI efficiency wave.
And that's in addition to the fact that they are one of, you know, three or four companies in the
world that's spending hundreds of billions on AI infrastructure to actually monetize the AI
build out the picks and shovels trade that we all love. Now, people think they're spending too much.
I think they're spending too little. And then, of course, you just have all types of other
businesses that they're involved with advertising, right? They're like a top three global digital ad company
that is poised to benefit massively from AI as well.
So it's just, everything I could think of at Amazon right now
There are some short-term issues,
the war being one of them, high oil prices, transport, Amazon gets destroyed when oil is high.
So hopefully the retail business, that won't last too long.
But that's like putting a short-term ceiling on Amazon because everyone's so concerned about these oil prices and what it's going to do to their transport costs because Amazon can't charge that much more for shipping, but their shipping cost
is going up, you know, in a big way right now. And where do NVIDIA, Broadcom, you know,
IRIN, right? Things like that kind of fit into this. Are there any others that are names that
are not so popular that you're like, I think this will be a huge winner. Yeah, I mean, look, I still love NVIDIA here.
It's part of my AI portfolio.
I think there's a lot of great stocks in the AI picks and shovels trade.
I'm kind of in most of them, quite honestly.
I do like on the Frontier model side,
we have this IPO window that's about to open up.
I think Anthropic is probably poised to benefit.
I think from a risk-reward standpoint,
like Anthropic is the most obvious choice
to massively benefit from this IPO window.
I can see Anthropic IPO-ing at a trillion dollars, right?
I can see that as a theoretical possibility
here, which would be, I don't know, what is that, two and a half X where they just raised?
And SKM, which is a telecom company in South Korea, that's their symbol, I think is the best
proxy for retail investors like myself to actually invest in Anthropic.
Because SK Telecom, they invested $100 million at the $5 billion valuation.
And it eventually became like 20 plus percent of their market cap as a company.
They're valued at like $11 billion now.
I think they have somewhere between $2 and and a half billion dollars of Anthropic.
And certainly if Anthropic doubles again, or maybe even triples, you could have their
Anthropic state be valued almost as much as the entire company.
So I want to make something clear.
I'm not a financial advisor.
This is just what I'm doing.
I'm not saying people should do this, but everyone's looking for an anthropic kind of proxy
and they're looking at Amazon. They're looking at, I don't know, there's a couple other companies.
There's even like a publicly traded, you know, private entity index. I think SKM is the best proxy for Anthropic. So that's a very large holding of mine as well.
But you should have a basket, right?
and it's the majority of my portfolio, honestly.
That was really my last question here
because I know we're coming up on time,
which was just how you think about structuring the baskets
and the totality of the portfolio.
Are you not trying to have more than X amount of names or X amount of baskets when you put
everything together? No, I don't have any rules when it comes to my portfolio structure. I
essentially everything I do is social arb. So every investment that I have at any moment in time
is because I believe that I have surfaced some information or some perspective
on that company that the world either hasn't discovered yet or hasn't fully appreciated.
And sometimes it takes days, weeks, months, potentially years in some cases for the world to start to see that thing that I see. Maybe I'm wrong. Maybe I'm
right. But every investment I make has this kind of arbitrage window at the core of that investment
thesis. So a lot of my portfolio is AI because I have this massive thesis on AI that it's going to be
meaningfully larger and more impactful than anyone's talking about. And you have to have
two sides of a trade. I think it's great that there are so many smart people that are taking
the other side because if they weren't, these stocks would be 2x where they are right now
and a lot less interesting, right?
Take out the word arbitrage.
Yeah, I mean, listen, some people get so angry when someone disagrees with their thesis.
It takes two sides to have a market.
Like I invite people that have the opposite perspective of me. And
quite honestly, I love to read about their perspective because I want to know, am I missing
something? And one thing that's really undervalued as an investor is the importance of fully
understanding the opposite perspective, the person that completely disagrees
with your trade, you need to understand their take backwards and forwards so that you can make
an honest assessment. Do I still believe in my thesis more than their thesis, right? You shouldn't
be afraid. You shouldn't go into these conversations or these debates defensively. You should like want to learn from people that are anti-AI. So I probably spend as much time reading anti-AI or AI is a bubble perspective as I do, wow, this is completely changing the way that I work. I'm 5x more productive, 10x more productive.
This is astonishing what we're able to achieve at my company this week, this month, leveraging these tool sets.
So, like, you should be doing both.
When everybody agrees on a thematic, there is no market to be made there.
And it typically doesn't even work out when everybody's on the same side. You really want
to see that back and forth. Incredible avenue on. If you had to just give one actionable step
for the viewers, myself coming out of this in their investing lifestyles, what would that be?
Yeah, I think the really important thing is to get out of the mindset that other people know things that you don't, that you can't do this, right?
Like when you come across something really interesting, like our last episode at Dumb Money Live was about the Neato toy, which is literally, it's the number one
and number two best selling toy on Amazon right now, right?
But you come across something like that
and the first thing you say is,
well, I'm sure other investors have seen this.
You'd be stunned how often you can come across things
and surface things that no other investors
or very few have come across because most investors have a
herd mentality. We are bombarded with noise every day, macro noise, Fed noise, Trump,
the administration, the war. What is Powell going to do? Right. Like 99% of investors are completely consumed by meaningless noise.
So if you're able to kind of break out of the matrix and actually teach yourself to kind of see through the noise
and to look at things that other people are not looking at,
that other people are not looking at.
There's a tremendous opportunity in the market
for just regular people like us
to generate astonishing returns.
it's not about how smart you are
because we're all thinking,
there's no way I'm as smart
as that person working at Goldman
who graduated top of their class in Wharton.
in a totally different way
than others and looking at things
in a totally different way than the mainstream is.
So I just want like to inspire other investors
that you can absolutely do this.
Believe me, I have so many people in my world
over the past 15 years become social art investors.
They are texting me, DMing me every day.
And they're like, oh my gosh, dude, I've been generating 23% returns for seven years straight
using social arb, but whatever it is.
And you know, I don't have courses.
I give out all my ideas for free.
I'm like poke holes in them.
So we just have a good time with it.
But anybody can do this if you're a ups driver you're a dentist
you're a homemaker uh you're retired i don't care who you're a kid you're 15 i don't care
i guarantee that you have the capacity uh to be a one percent investor like the best one
two percent in the world uh if you're willing to put in the time
and the work and to learn read unknown market wizards the chapter uh you know follow me on x
and you know watch the youtube the money live and just join our you know our content yeah it's
amazing content and the video work has been great lately the shorts that you've been putting out
taking the clips on the page yeah it's high I mean, look at the background you got going here.
Encourage everybody, definitely go check out Dumb Money, both on Twitter and YouTube. Like you said,
it's one of my favorite parts. And I was so excited to have you on too. You're not selling
anything, right? You're putting it all out there. I mean, I think we have some t-shirts on the site
or hats or something, but like, I've never seen a penny from that. I think Dave sells that at cost
for people that want it but no we don't listen we don't sell anything because my single-minded goal
is to bring every human on earth into the investor class that's why that's why we do the stuff we do
on youtube i just want to inspire people to get in the investor class not be intimidated by it
have fun with it man like if you're not having the way, there's no funner way to invest
Like I'm reading comments
investment research put together,
making the most of the screen time.
Encourage everybody. Like I said, there's so much more content coming out.
Regular show drops weekly.
You also have a lot of clips that are continuously coming onto Twitter, which people can check out there.
So far, Bertra is a fascinating strategy.
I think you're the only one that's talked about it on our channel.
And I encourage people to go and dive deeper into it.
I think for a lot of people who don't have the fundamental or the technical background, this can severely appeal to them because they're like,
hey, I can notice trends, right? I can look at what's happening in the world and put two and
two together. So it's a different type of smart, like you were talking about. And I can really
appreciate that. Any final comments? Anything else you want to share today? No, that's it.
Just stick in there. It'd be a lot more ups and downs in this market. Like, don't get sucked in. Don't get freaked out. You got to like, I've been through this, guys. I've
been through this war many times over the past few decades. This is when you make your money,
right? It's scary. But this is where the opportunity is. If the market was up 40% from here,
it'd be way less interesting right now.
So this is actually an awesome time to be an investor looking for opportunities when
things are scary and volatile and there's war and unknowns.
This is when you want to put in the war.
Don't be freaked out, right?
Yeah, I love that message.
This is a great time when it's at all time highs. I mean, who knows with some of those areas, but here you do see a lot of
opportunity. You have stocks that have really sold off recently as well. So what better time
to get in and do your research? Chris, thanks so much for taking the time. Also commend to you
going and traveling and teaching people in other countries, financial literacy and investing.
It's incredible to watch and inspiring. And I hope everyone goes and checks that out as well on your channel. Wishing you the best and looking forward to
having you on again soon. Thanks so much.