Latest / Earn Your Leisure / Healthcare is The Next Investment Wave

Transcript

Healthcare is The Next Investment Wave · Earn Your Leisure

0:00
Speaker 1: I would give you another sector that I think is
0:02
Speaker 1: really attractive, and I was talking to Ian about this
0:05
Speaker 1: is healthcare. I think that's another area that we really
0:09
Speaker 1: should lean into, because every single person here that's going
0:12
Speaker 1: to listen to this conversation is going to say, you know, what,
0:15
Speaker 1: what do I do with my leisure time. I'm not
0:17
Speaker 1: sitting out drinking and partying and hanging out. I care
0:20
Speaker 1: much more about the infrastructure of my life than my health.
0:23
Speaker 1: That's why people are leaning into more drug use in
0:27
Speaker 1: a positive way. I'm talking peptides and other things right right,
0:31
Speaker 1: But they're leaning into other opportunities to figure out where
0:35
Speaker 1: do we see growth and videos made some announcements some
0:37
Speaker 1: of these other companies that made announcements in their support
0:40
Speaker 1: for healthcare, and I think that could be a deviation
0:43
Speaker 1: that you can see pop ups.
0:44
Speaker 2: And from an institutional standpoint, what is the outside of
0:51
Speaker 2: the hyperscalers? What is the software sector need to do
0:56
Speaker 2: in order to rebalance and regain dominance. We talked about
0:59
Speaker 2: into it it service. Now there's some companies that are
1:02
Speaker 2: really beating up Adobe. When you guys are looking at
1:07
Speaker 2: things to potentially invest in, what you need to see
1:10
Speaker 2: as a catalyst to then.
1:11
Speaker 1: Yes, I'm gonna have to pun on this one, and
1:13
Speaker 1: I'm going to just tell you why. So the way
1:14
Speaker 1: that we structure the investments here at Direction and I
1:18
Speaker 1: think it's important, Like I shared this about sort of
1:21
Speaker 1: who we are and the way we think we launch
1:23
Speaker 1: products for investors to trade. We're not making the call
1:26
Speaker 1: of saying, like, hey, this sector, this sector is going
1:29
Speaker 1: to recover. Versus this sector, we're saying, can we build
1:33
Speaker 1: in a trading vehicle in an area that's going to
1:35
Speaker 1: trade a lot? So some of those areas, I think
1:38
Speaker 1: some of those businesses, I'll just kind of share my
1:41
Speaker 1: two cents of what they need to do is I
1:43
Speaker 1: think they're going to need to either explore M and
1:46
Speaker 1: A opportunities with some of their cash to actually go
1:50
Speaker 1: out and maybe become a little more competitive in the space,
1:53
Speaker 1: or they really need to invest in A and D
1:57
Speaker 1: or R and D to pivot their business. And we
2:00
Speaker 1: already know the sale cycle and how long that can
2:03
Speaker 1: potentially take. So right, the term that everyone was talking
2:06
Speaker 1: about that we all grew up on was mag seven. Well,
2:10
Speaker 1: the mag seven has now matured to the mangoes, right, right.
2:15
Speaker 3: So.
2:16
Speaker 1: That's the whole compartment. That's the whole part of the business.
2:20
Speaker 1: Where if Meta and I think we talked about this
2:23
Speaker 1: yesterday Ian with Meta, Microsoft and some of these companies
2:28
Speaker 1: that we love. They own the cloud and the software space.
2:34
Speaker 1: But guess what they're doing. They're being beaten up because
2:36
Speaker 1: they're making an investment for the future. But they have
2:39
Speaker 1: to make that investment for the future, and at the
2:41
Speaker 1: same time, they're also laying people off, right, So we
2:46
Speaker 1: got to be mindful of what that looks like. So
2:48
Speaker 1: we don't launch products based off of what these companies
2:52
Speaker 1: should do. We launched the products based off of where
2:54
Speaker 1: the trading opportunities are for the market.
3:00
Speaker 4: Should feel for the market? Are you bullish? Are you bearished?
3:03
Speaker 4: Do you think that when he said regarding late stages,
3:08
Speaker 4: do you feel that this is the late stages of
3:13
Speaker 4: a bull market? And we're ripe for a beer market?
3:18
Speaker 1: So the old adages, bull markets don't die of old age, right,
3:22
Speaker 1: there's usually a catalyst that make them stop running.
3:26
Speaker 5: And what I would.
3:28
Speaker 1: Say is for us, our view is that the market
3:32
Speaker 1: still has tailwind because of the support around earnings. But
3:36
Speaker 1: again it's price to perfection, and what I mean by
3:39
Speaker 1: that is if any companies have any small disappointments, you're
3:41
Speaker 1: going to see disruption in volatility. That's just kind of
3:43
Speaker 1: where we are. And I also alluded to the concentration
3:46
Speaker 1: that we see in the marketplace right now. So in
3:48
Speaker 1: a late stage area, one of the things that I
3:50
Speaker 1: think investors all need to consider and do is they
3:53
Speaker 1: need to actually broaden out the diversification, meaning pivot to
3:59
Speaker 1: maybe like equally weighted exposures versus these concentrated exposures. That's
4:04
Speaker 1: a very important point and here's why, because if you
4:08
Speaker 1: have any major head wind that hits the MAC seven,
4:13
Speaker 1: your ETF, your exposure, your stock, your option trade, it's
4:16
Speaker 1: going to go the other way and it might go
4:18
Speaker 1: against you. So you might want to consider a way
4:21
Speaker 1: to balance out the risk of the cues as an example,
4:24
Speaker 1: and maybe hold QQQE, which is an equally weighted ETF
4:28
Speaker 1: versus just holding the cues. And then someone's going to
4:31
Speaker 1: come back and say, well, should I hold QQQM that's
4:34
Speaker 1: more of a momentum, that's still concentrated. Bet, that's going
4:37
Speaker 1: to put you right back where you are. Should I
4:39
Speaker 1: hold qqqi that's going to be more income based. If
4:43
Speaker 1: you just looked on par you're not getting the exposure
4:45
Speaker 1: that you want.
4:46
Speaker 5: You're trying to.
4:46
Speaker 1: Clip a coupon with that particular product. So if you're
4:49
Speaker 1: going to say, hey, where do I get my exposure today?
4:52
Speaker 1: You should be thinking about broadening out your risk and
4:56
Speaker 1: understanding that you know, we're going to be a little
4:57
Speaker 1: probably choppy for a little while.
5:00
Speaker 6: Can you just explain it for the audience people?
5:02
Speaker 4: It might not be familiar as far as like you're
5:03
Speaker 4: saying equally weighted as opposed to yes, and you can
5:07
Speaker 4: use qqqs examples.
5:08
Speaker 5: Yeah, so QQQ.
5:10
Speaker 1: Most of the indicies the way that they're created, they're
5:12
Speaker 1: created with which is called market cap weighting, So based
5:15
Speaker 1: off the size of the company, that will be basically
5:17
Speaker 1: the percentage that they get inside of the ETF because
5:20
Speaker 1: I'm using the queues for the sake of this narrative
5:22
Speaker 1: and conversation. That's the Nasdaq one hundred, so it's the
5:26
Speaker 1: top one hundred tech companies for the most part. If
5:28
Speaker 1: you look from a sector perspective, the majority of those
5:32
Speaker 1: stocks fit into the information technology space, so it's heavy
5:35
Speaker 1: tech weighted. Because the mag seven has such a concentration
5:41
Speaker 1: of the top positions. Your risk is concentrated in just
5:46
Speaker 1: how those four or five stocks do.
5:49
Speaker 5: Right.
5:50
Speaker 1: That's simple equally weighted, just basically as an ETF in
5:54
Speaker 1: which the one that I just shared is QQQE, it's
5:58
Speaker 1: actually one percent exposure across the board for every security
6:03
Speaker 1: that's in that index. So that's one hundred securities, one
6:06
Speaker 1: hundred positions at one percent. Why does that matter, because
6:10
Speaker 1: now we spread out the risk and then we get
6:13
Speaker 1: exposures to other positions that might do well. And one
6:16
Speaker 1: of the names that I kind of shared on a
6:18
Speaker 1: call the other day was Palo Alto Networks. That's not
6:22
Speaker 1: in people's top ten. Nobody's holding that, but if you
6:27
Speaker 1: look inside, that's a nice position. It's actually had a
6:30
Speaker 1: really strong run. They have really good covenants, they have
6:33
Speaker 1: really good relationships and free cash flow. That's somewhere that
6:38
Speaker 1: people might want to get exposure to, but they're not
6:40
Speaker 1: getting exposure to that. So that's why a QQQE in
6:43
Speaker 1: a late stage cycle would make more sense opposed to
6:46
Speaker 1: just trying to capture the run up of a concentrated position.
6:51
Speaker 6: You've had an extensive career in finance. I wonder if
6:55
Speaker 6: there's something that you.
6:56
Speaker 3: Learned as a professional that changed the way you invested personally, right,
7:00
Speaker 3: Like for a retail investor who's new, there's obviously things
7:04
Speaker 3: that you've seen and your access to that you're like, wait,
7:07
Speaker 3: I wish people would have done out of.
7:09
Speaker 5: My Yeah, so let me. I gotta I gotta preference this.
7:13
Speaker 5: So you guys actually have more freedom than I have
7:16
Speaker 5: and blaw. You know this from having.
7:17
Speaker 1: Your security licenses, right, I have my Series seven, I
7:20
Speaker 1: have my sixty three. I have a bunch of security
7:22
Speaker 1: licenses that I can't trade anything. For the most part,
7:25
Speaker 1: we have to submit through compliance, So you have more
7:28
Speaker 1: flexibility than I have. The one thing that I've learned
7:32
Speaker 1: is the math matters on the downside. It matters more
7:40
Speaker 1: on the downside than even capturing the upside because the
7:44
Speaker 1: impact of loss is so great. However, greed and fear
7:48
Speaker 1: are two most innate characteristics. And you know this, you
7:52
Speaker 1: ain't made no I'm gonna say, I gonna speak like us.
7:55
Speaker 5: You have made any.
7:56
Speaker 1: Positive decisions when you've been emotionally charged, right like, it
7:58
Speaker 1: never happens. So my key takeaway from like my career
8:04
Speaker 1: is that just staying in the game is better than
8:07
Speaker 1: trying to win the game. And that's what people tend
8:11
Speaker 1: to forget. So when the market gets volatile, they tend
8:14
Speaker 1: to sell. Right, we just have the same terrible buying behaviors.
8:17
Speaker 1: We tend to sell. We think it's going to you know,
8:19
Speaker 1: the shoe is dropping, it's you know, the sky is falling.
8:22
Speaker 1: So my ability to stay in the market and control
8:25
Speaker 1: my emotions have been the most supportive aspect of winning.
8:35
Speaker 2: I get from a diversification standpoint, to be equally weighted.
8:41
Speaker 2: That tells me you may see somewhat of a correction.
8:44
Speaker 2: But how long do you stay equal with your question?
8:46
Speaker 1: So look, I think the equally weighted could be a
8:48
Speaker 1: core position and it's complementary position. So let me just
8:51
Speaker 1: give you a couple of different ways to think about it.
8:54
Speaker 1: Most people, if they're going to hold two core ETFs,
8:57
Speaker 1: they're going to hold likely QQQ and VO. Right, Like,
9:00
Speaker 1: just give me a head nod if we're right. Okay,
9:02
Speaker 1: we're on the same page. So one, you're already starting
9:05
Speaker 1: to get some overlap between the two positions anyway, right,
9:08
Speaker 1: just as far as information and tech goes. But now
9:13
Speaker 1: what I'm thinking is you want beta when you know
9:17
Speaker 1: the market is going to have a strong tail win
9:19
Speaker 1: and run up.
9:20
Speaker 5: So we had beta from two.
9:22
Speaker 1: H fifteen to twenty twenty. Then it got real volatile,
9:25
Speaker 1: and then what happened? Excuse me, the beta trade was
9:29
Speaker 1: on at the bottom of twenty twenty and twenty twenty one.
9:31
Speaker 1: You're like, get in the market, didn't matter what you had.
9:34
Speaker 1: The AI trade is the exact same. So right now
9:37
Speaker 1: it's all run up, it's all pulled up together.
9:40
Speaker 5: But now what are we seeing. We're seeing now more.
9:42
Speaker 1: Of a trader's market where the opportunity to find dislocations
9:46
Speaker 1: is actually supportive of the environment, so you can trade.
9:50
Speaker 1: As an example, everyone's excited. How could you not be
9:52
Speaker 1: excited about Micron's earnings. Microns earnings are.
9:55
Speaker 5: Through the roof. But look at the stop price. Stop
9:57
Speaker 5: price is back at eleven hundred dollars. The peak was
10:00
Speaker 5: twelve fifty.
10:02
Speaker 1: It's not even back at its peak and it's crushed
10:04
Speaker 1: it so it's not even strong enough to pull.
10:05
Speaker 5: The entire space up. So being not the case.
10:09
Speaker 1: Now, I want to start to think the market is saying, hey,
10:11
Speaker 1: should I go out and find a new asset class
10:14
Speaker 1: in or another area that I can buy to gain value.
10:17
Speaker 1: That's the storyline there. That's what you should feel, That's
10:20
Speaker 1: what you sud sense, that's what you suc see. The
10:23
Speaker 1: market rewards the surprise to the upside and or making
10:27
Speaker 1: sure that you meet the objective that you set out.
10:30
Speaker 1: It does not like negative surprises, and the negative surprise
10:33
Speaker 1: in my opinion just looking at that is but we're
10:36
Speaker 1: not being rewarded anymore for that holding right right now
10:38
Speaker 1: where we are, So now can we pivot in place capital?
10:41
Speaker 5: Elsewhere?
10:44
Speaker 6: Well? Place capital? The next question will be where.
10:47
Speaker 5: But yeah, I gotta ask I gotta ask you, yeah
10:50
Speaker 5: for real.
10:52
Speaker 4: But I want to ask you about crypto too, because
10:55
Speaker 4: you mentioned crypto early and it has been beaten up specifically.
11:01
Speaker 4: You know, Bitcoin is something that has a lot of
11:05
Speaker 4: people nervous because this still talk that it could it
11:09
Speaker 4: could go down even further than it would than it
11:11
Speaker 4: has been. And during this whole AI run, during the
11:13
Speaker 4: NASDAC run, during all of this stock market run, Crypto
11:17
Speaker 4: has not gone up at all. And bigcoin is down
11:20
Speaker 4: fifty percent. But if you look at XRP and ethereum
11:23
Speaker 4: that they're down worse than that, Solana, and then you know,
11:28
Speaker 4: now you're starting to this happens all the time. Now
11:30
Speaker 4: you're starting to hit people saying that crypto is a
11:32
Speaker 4: scam and there's no point in bitcoin, it has no
11:35
Speaker 4: eccentric no eccentric value.
11:37
Speaker 6: Even Mark Cuban, I think he's you know, was it
11:39
Speaker 6: Mark Cubero? Was it?
11:41
Speaker 4: You know, the guy that owns barstool. He said that,
11:46
Speaker 4: and he's saying, well, he's like, maybe bitcoin is going
11:48
Speaker 4: to zero. So what is your thoughts on on the
11:52
Speaker 4: crypto space big coin?
11:55
Speaker 5: Yeah?
11:55
Speaker 1: So one, I think you know, investors should think to
12:00
Speaker 1: think about it twofold. If you're a trader, right then
12:04
Speaker 1: just identify your best opportunities to trade within the space.
12:08
Speaker 1: Just is what it is, right, I'm not going to
12:09
Speaker 1: I'm not here to tell you which asset class is.
12:11
Speaker 5: Going to be in favor for a week or two.
12:13
Speaker 1: If you're a trader, you should continue to trade the
12:14
Speaker 1: asset classes if the liquidity is there and the opportunity
12:17
Speaker 1: for you to have conviction in the trade.
12:19
Speaker 5: So that's one. The second thing is I think.
12:22
Speaker 1: You should have to there's has to be bifurcation and
12:27
Speaker 1: crypto versus bigcoin just because of the association of bigcoin, right,
12:32
Speaker 1: bigcoin is seen as the store of value. All these
12:34
Speaker 1: other components of it that you already know. The other
12:37
Speaker 1: thing is it's not sticking with the narrative that it
12:39
Speaker 1: outpaces inflation. That's the bigger question and challenge. Right it's like, okay,
12:45
Speaker 1: who owns it? It was in the Epstein's emails, like
12:48
Speaker 1: who is the to There's a lot of different things.
12:50
Speaker 5: I saw something recently.
12:51
Speaker 1: Like people are calling for so to you to move
12:53
Speaker 1: his wallet or do something over the next twelve months.
12:56
Speaker 1: There's a lot of headlines associated with bigcoin. So whatever
13:00
Speaker 1: you're going to do, you should you trade it, have
13:02
Speaker 1: your options there. When it comes to the rest of
13:05
Speaker 1: the ecosystem, I think the one question we all should ask,
13:09
Speaker 1: and it should be the only question is their utility.
13:13
Speaker 5: Is their utility in the project? That's the number one question.
13:16
Speaker 1: And then if you start with that and then you
13:18
Speaker 1: look at to say who has real contracts, real partnerships.
13:23
Speaker 5: The same way that we're currently evaluating a lot of.
13:25
Speaker 1: These crypt these AI projects today, you should look at
13:30
Speaker 1: crypto the exact same way. Because even if we have
13:34
Speaker 1: let's just say a cloud system that's hyper connected, that's
13:37
Speaker 1: more data, you have more devices that you're connected to.
13:40
Speaker 5: I got two laptops I got two phones.
13:43
Speaker 1: Security is the number one threat to everyone, which means
13:46
Speaker 1: we need accounting systems that are structured, that are transparent,
13:50
Speaker 1: that are secure. So if we're moving data, if we're
13:53
Speaker 1: moving assets, if we're moving anything on these rails, you
13:56
Speaker 1: want them to work. For the institutions about what's happening
14:00
Speaker 1: in crypto. While I was at the New York Stock Exchange,
14:03
Speaker 1: we announce an alternative trading system or network which will
14:08
Speaker 1: be trading token I securities. You see every exchange announcing
14:11
Speaker 1: what token I securities. You see more support around banks
14:16
Speaker 1: and tokenized treasuries because we want to remove the friction
14:20
Speaker 1: and we want to support the movement of assets freely.
14:24
Speaker 1: Now I'll tell you I think this is the dot
14:26
Speaker 1: com bubble for a moment for crypto. They are going
14:29
Speaker 1: to be clear winners and they're going to be clear losers.
14:31
Speaker 1: I think so in the next in the near future, absolutely,
14:34
Speaker 1: because we have to get the washout moment. People forget
14:36
Speaker 1: like Amazon was down ninety percent during the dot com bubble.
14:40
Speaker 1: People forget that like today is a staple, it's a hallmark,
14:43
Speaker 1: like we can't think of life without it.
14:45
Speaker 6: But that's what we are.
14:46
Speaker 1: I think in the maturity of this particular asset class.
14:51
Speaker 6: The washed out moment is upon us.
14:53
Speaker 5: That's I think that's a fair moment. I think that's
14:55
Speaker 5: a fair, fair assessment of where we brought.
14:58
Speaker 6: Yeah, fair assessment.
15:01
Speaker 3: I got to start thinking about AI in terms of
15:04
Speaker 3: how disruptive is going to be?
15:05
Speaker 6: Right, we know education, we know healthcare for good reason.
15:09
Speaker 3: I wonder what your thoughts are on financial services and
15:13
Speaker 3: if some point will will we have AI managed the
15:16
Speaker 3: ETFs right like, because I feel like institutional has always
15:21
Speaker 3: had algorithmic ways to trade and now you're intensifying that
15:24
Speaker 3: by having artificial intelligence. So what do you see the
15:27
Speaker 3: future of financial services with this?
15:29
Speaker 5: Disroger come up with the Haymakers on these so so
15:35
Speaker 5: two things. The first is I think, let me take
15:41
Speaker 5: financial advice.
15:42
Speaker 1: I think people will always want to speak to people
15:44
Speaker 1: when markets get volatile and shopping because there's emotional connection
15:47
Speaker 1: to it. And and be you being a former advisor,
15:51
Speaker 1: you know like the handholding that is required, and you
15:54
Speaker 1: guys have been dealing with people already. Right, So the market,
15:59
Speaker 1: when markets are good, everyone's making money, everyone's quiet. Market's
16:02
Speaker 1: going to be choppy, people are going to be on
16:04
Speaker 1: your phone you'll see your numbers go up considerably because
16:07
Speaker 1: they're looking for guidance. So that's one I don't think
16:09
Speaker 1: AI can step into that human component just yet, Troy.
16:14
Speaker 1: The second piece, when you think about the ETF side
16:17
Speaker 1: of active versus passive, it can be a rules based
16:21
Speaker 1: strategy with an active overlay, meaning rules based meaning we're
16:26
Speaker 1: only going to hold equally weighted positions in the ETF
16:29
Speaker 1: and then apply a sector rotation to it based.
16:33
Speaker 5: Off of the fund manager.
16:35
Speaker 1: So that's a conservative way to run a active portfolio.
16:40
Speaker 1: Right now, when you think about what's happening in active
16:42
Speaker 1: and passive, nine out of ten dollars that are launch
16:46
Speaker 1: or products that are launched are active. So every time
16:49
Speaker 1: ten new ETFs come to the market, nine of them
16:52
Speaker 1: are active. Active as actually starting to outpace passive. Why
16:57
Speaker 1: because the market is becoming dislocated and you're being awarded
17:00
Speaker 1: for making your concentrated bets where they're appropriate for the
17:04
Speaker 1: trading side of things. I still believe information, and Troy
17:09
Speaker 1: goes directly to your point, Information still moves through conversation.
17:14
Speaker 1: I'm not sure how AI will be able to interpret
17:17
Speaker 1: and deploy that based off of me having a conversation
17:21
Speaker 1: with you guys right now. Let's just say I was
17:23
Speaker 1: at Oracle and I'm a technical founder and we're doing
17:26
Speaker 1: some stuff and we're getting ready to release some new announcements,
17:28
Speaker 1: but we're having a conversation. Yeah, it is not going
17:30
Speaker 1: to be able to take that just as quickly right
17:32
Speaker 1: now from this conversation and then go deploy that with
17:35
Speaker 1: future projections.
17:37
Speaker 5: So I think it's still some time for that to
17:39
Speaker 5: sort of work through the system.
17:41
Speaker 1: But I do believe it's a critical component of service.
17:46
Speaker 1: So when you think about it, if you have a financial advisor,
17:48
Speaker 1: if I can prepare my documents for my client better
17:51
Speaker 1: with their meeting notes and clear tasks for them to
17:56
Speaker 1: work through their estate planning needs, I think that's a value.
18:01
Speaker 1: So I think it's going to actually make it better
18:03
Speaker 1: for the client experience. But I don't think it's going
18:05
Speaker 1: to be managing the capital just yet.
18:13
Speaker 2: I meant to ask you this last time in a
18:14
Speaker 2: stock club call, but you've met a lot of people
18:17
Speaker 2: in your career. Who are two people that gave you
18:22
Speaker 2: the best piece of advice in your career and what
18:24
Speaker 2: we do.
18:25
Speaker 1: The person is Reggie Brown. If you guys don't know
18:27
Speaker 1: Reggie Brown. He is known as the godfather of ETFs,
18:31
Speaker 1: So you guys got to get him at some point.
18:33
Speaker 1: I know, you guys get a lot of big hitters.
18:35
Speaker 1: Reggie is a partner at one of the largest market makers,
18:39
Speaker 1: which is GTS. They have maybe seven hundred ETFs that
18:42
Speaker 1: they trade. He's a brother, he's super dope. He's from Philly.
18:47
Speaker 1: And Reggie told me around decision making, he said, make
18:52
Speaker 1: sure your life is interesting.
18:54
Speaker 5: And when you.
18:56
Speaker 1: Think about that, interesting means do you have some than
19:00
Speaker 1: to say when you're in the room. Is it complimentary
19:03
Speaker 1: to the audience? Can people learn from it? Can people
19:05
Speaker 1: grow from it? So that was one So is your
19:08
Speaker 1: life interesting, which is a question I asked myself all
19:10
Speaker 1: the time when I'm kind of studying and reading.
19:13
Speaker 5: Then the next person.
19:16
Speaker 1: That I met that I think was critical for me
19:19
Speaker 1: was actually the CEO of this particular firm Direction, which
19:24
Speaker 1: is Doug Jonas. And Doug spent time building Vanguard's ETF
19:30
Speaker 1: business in Tokyo in Hong Kong. So he lived in
19:32
Speaker 1: Hong Kong for years and then he ran the stock
19:35
Speaker 1: exchange for nine for nine years, and he told me.
19:41
Speaker 5: To remove the.
19:44
Speaker 1: Complexity out of your life and keep it simple, like
19:50
Speaker 1: I thrived in complexity. But when he's like, He's like,
19:54
Speaker 1: when you're more senior and you're leaning into a lot
19:57
Speaker 1: more of the inf structure around our business and our industry,
20:02
Speaker 1: you don't have the capacity to go down the rabbit
20:05
Speaker 1: hole of every single thing that you're curious about. So
20:08
Speaker 1: he said, hey, remove the complexity and you'll have more peace.
20:11
Speaker 1: And I'll be honest with you, in my life has
20:13
Speaker 1: been and we talked about this. I've been in a
20:15
Speaker 1: little more peaceful the last couple of years than I've
20:18
Speaker 1: been in a long time since I've met Doug.
20:20
Speaker 5: So I think those two things are important.
20:22
Speaker 1: It's because you guys get bogged down with really helping people,
20:27
Speaker 1: say for retirement, think about these very difficult conversations that
20:31
Speaker 1: they need to have around hey, do we have enough
20:33
Speaker 1: for retirement?
20:34
Speaker 5: Are we going to buy a house? Like? Do we
20:35
Speaker 5: do this for our kids?
20:37
Speaker 1: You guys do a lot with five twenty nine planning
20:39
Speaker 1: conversation like you guys are doing a lot. Most people
20:42
Speaker 1: can't absorb all the things that you guys are sharing.
20:45
Speaker 1: So being able to remove some of the film, like
20:48
Speaker 1: being a natural filter, would actually help more people to
20:53
Speaker 1: complete simple task to get to where they're trying to go.
20:57
Speaker 5: So I think those are the two things. I think
20:59
Speaker 5: they're fair.
21:03
Speaker 4: Well, I'm aloud. I want to thank you. I coming
21:05
Speaker 4: on greatly, greatly appreciate it. I know you have a show.
21:10
Speaker 4: Anything that you want to tell audience.
21:12
Speaker 5: Yeah, the one thing is I'll share this personally.
21:17
Speaker 1: I think people right now are trying to figure out
21:20
Speaker 1: what's the most important things to them. And you guys
21:23
Speaker 1: spend a lot of time talking about the aspects of
21:26
Speaker 1: financial services. I think it's equally critical to make sure
21:29
Speaker 1: that people's mental headspace is right. And that's fathers, that's men,
21:35
Speaker 1: that's women, everyone's looking at you know, the comparison tool
21:39
Speaker 1: right here of who's you know, who's who. I think
21:43
Speaker 1: right now, making sure that people feel comfortable in their
21:46
Speaker 1: own skin and confident that they're doing what it takes
21:49
Speaker 1: for them to be happy is foundational for us all
21:53
Speaker 1: to have success in the future. So that's the most
21:55
Speaker 1: important thing. You can find me on social billow as little.
22:00
Speaker 1: I'll be down at investments to support you guys. You know,
22:04
Speaker 1: go check out our website anything that I've discussed today.
22:07
Speaker 1: You can see all of our leverage products with the
22:09
Speaker 1: largest leverage et F SHREA on the planet. And the
22:13
Speaker 1: website is direction dot com.
22:19
Speaker 2: And we dropped the classic at ETF Central Top five.
22:23
Speaker 1: Five ever all time videos view on the New York
22:26
Speaker 1: Stock Exchanges platform. So next, I got to get you
22:29
Speaker 1: guys on man. I love what you guys have been doing,
22:31
Speaker 1: so we got to make sure we collaborate as well.
22:34
Speaker 6: Absolutely, let's do it.
22:36
Speaker 4: Originally from Stanford, New York, Connecticut, Stanford, Connecticut from stand up,
22:42
Speaker 4: all right, thank you.
22:45
Speaker 5: Guys, seriously, yep, talk to appreciate my brother.
22:52
Speaker 6: All right, great comments. Very intelligent brother, man.
22:59
Speaker 2: Yeah, him and bottom one to me are twins intellectually.
23:04
Speaker 2: They just focus on different things. And then I believe
23:06
Speaker 2: in correlation. I got to find another blow to do
23:09
Speaker 2: business with something.
23:12
Speaker 5: I'm due for too.
23:14
Speaker 2: So there's another belid in the finance space.
23:20
Speaker 3: He's not lying when he's talking about the amount of ETFs.
23:23
Speaker 1: Man.
23:23
Speaker 3: They they're usually the first ones to come forward with
23:27
Speaker 3: an ETF and new space.
23:28
Speaker 6: So yeah, the market, that's dope that that we got
23:31
Speaker 6: that conversation. Yeah, sure,