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RTC59: Pfizer - a very stiff competitor 😏 · The Curve

• 0:00
  Welcome to the Curve Podcast, a conversation for women who want to learn more about money,
• 0:06
  their money for the future they want to have. We're all busy and the pursuit for financial
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  confidence and increasing your wealth should be a simple one. This podcast is for women
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  time to learn, digest and understand everything to do with the world of investing. So thank
• 0:28
  you for being here and for listening, because together we really can raise the curve.
• 0:34
  My hair looks absolutely brown and I'm gutted about it. It's blending in with the microphone.
• 0:40
  What's the hair? It's because my regar is so bare. I've gone for a little
• 0:46
  house on the prairie actually. Do you know what? Every time my hair gets shit like I kind of
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  forward to go to the hairdresser for a while, it gets this phase where it's
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  straggly and disgusting. Do you want me to cut it? Kind of, yeah. It's so bad. In the weekend,
• 1:01
  my friend literally said to me, I think I wrote on my phone as a quote because it was so brutal.
• 1:05
  She was like, your hair looks shocking. She was like, shorter, blonder, sorted out. I was like,
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  oh, gee, easy home. Tell me how you really build a reject. So yeah, the hairdo is my attempt to,
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  I don't know, do something or let get it out of my face. I don't get sick of wearing the same
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  here. Well, just like, yeah, maybe I'll do plants tomorrow. I was thinking you're so lucky you don't
• 1:33
  have to dye it. Not that I have to dye it, but you're lucky that your hair is such a beautiful
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  or what? I'm going into my first dye in a few days. What are you getting done? My grays.
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  Oh, the grays. You're not doing a belly-arge or something. No.
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  How strange is it a full-on dye all of that? No, just on the roots, but I mean, it's the beginning
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  of the end, really. Oh, you know, when you shave your legs the first time and you're like,
• 2:01
  mum went psycho. I mean, she was like, no, now you're going to do this for the rest of your life.
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  I shaved my arms and my mum did that. Oh, because I've got really hairy forearms
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  and I shaved them in my mouth. And to be fair, they had been worse ever since.
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  Damn, mum, I always write. Oh, I just stood on, it looks like. It's blue tag. I know.
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  I think the blue tag is the least of your worries in your outfit tag.
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  Do I need to explain? I might. Basically, what happened was I got to VIX House,
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  OK, the studio, and I hated my outfit, so I asked if I was sure. And now I'm wearing the ugliest.
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  Let's just say it's a good thing that the camera's only record from the top up.
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  That's not good. I'll just stand up for a second. There we go.
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  Your kind of little house in the prairie meets road cone meets.
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  I'm excited for today's episode because we're doing a stock story.
• 3:00
  We are. So that's basically for anyone who's never listened to raising the curve or a stock story
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  before. This is VIX, sort of, she does a bunch of research. She looks at a particular company.
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  What, you're supposed to research? You can't use that joke every ever so bad because
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  the same people listen. And so you're going to have to work on some new material.
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  So it's basically her vision of like a case study, basically. So we're looking at the pros,
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  the cons, the good, the bad, the ugly. And it's great investment ideas because I listen,
• 3:31
  and I'm like, would I? And at the end of the episode, I think, yeah, your name.
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  Yeah, but it's not financial. No, no, no, no. We're not telling people to.
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  But I like things. We're giving the facts and they can make their intention. Exactly, exactly.
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  So I've always had me to be like, you know, think of some better stocks to talk about.
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  Or like, you know, be more creative, stop talking about Microsoft. And so I'm trying to come up with
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  some more creative, well, you know, companies that have been outside the box.
• 3:56
  And so last night, I watched Love and Other Drugs with Jake Gyllenhaal.
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  He's so hot. So hot. Even Jake Gyllenhaal when he's into men,
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  in fact, mountain I'm into. Oh, any, any type of Jake Gyllenhaal. He is, he is beautiful, isn't he?
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  Oh, I all of a sudden lost my train of thought. But yeah, yeah, kind of can't remember the storyline,
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  because that's just, you know, mouth open. Love and Other Drugs. Oh, he's really,
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  it's a beautiful story. Yeah, it is a beautiful storyline. But anyway, so he works,
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  as makes him hotter. I don't know. He works as a drug rep for Pfizer. Oh, that's right.
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  And I was like, Pfizer. Oh, Pfizer. We're doing Pfizer today. We're doing Pfizer today. So Pfizer's
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  a little bit COVID, right? Yeah. Yeah. Well, you're right now. So just watching the movie.
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  I was sitting there with a little investing brain on nerd. So they were founded in 1849.
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  Oh, good God. Pfizer is one of the largest pharmaceutical companies in the world. And they're listed
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  on the New York Stock Exchange. And they have a market cap, which is the size of the company.
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  Yeah. So it's the amount of shares times the price. Yeah. Is that right? Yeah. That's that's it.
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  So it's got a market cap, which is effectively just the size of the company of $240 billion. So
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  it's a biggie. It's a biggie. And as in the top, they will have sold a lot of Niagara. Yes. Yeah.
• 5:31
  You're really stealing my whole show here. No, I only got this from the movie. This is not from
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  knowledge. This is just because he's racing around trying to get me. I'm like, have you been looking at
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  my nose? Trust me. That's all I got. All I got. But yes. So they are one of the biggest pharmaceutical
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  companies in the world. And they're in the S&P 500. And they're one of the top 25 companies in that.
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  Can you be in the New York Stock Exchange as well as the S&P 500? Yes. So the stock exchange is where
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  you're listed, the Nasdaq or the New York Stock Exchange. And the S&P 500 is the index is made
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  up of a mixture of both. Yeah. You don't have to be listed on one or the other. Yeah. Yeah. So the
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  index is a group of companies, just a basket of companies that are listed in the US. Got it.
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  Anywhere. Yeah. And I guess the key thing with Pfizer is that it has been around forever. It was
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  founded in 1849. So years and years and years ago. Oh yeah. Yeah. And at IPO, which was when it
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  first went public over 80 years ago. So it's been around for a while. Yes. Yeah. And it was the first
• 6:40
  producer of Penicillin. Penicillin. It was really mostly in the Viagra part.
• 6:47
  It's been a while. Have you ever tried using it with a partner? Yeah. Oh no. Not the
• 7:05
  thing off. I mean. That's such a good answer. Don't do gods. I have just seen. Oh heavier. Yeah.
• 7:21
  What was it like? Normal? Yeah. Yeah. Pretty normal. Yeah. It wasn't really my choice to be honest.
• 7:28
  It was mainly, you know, and someone's like having a ruffled day and they just can't sort it out.
• 7:33
  It was more one of those. How long does it take to work? I can't remember. But it was a long time ago.
• 7:39
  I was like 22. Yeah. And you know, not any way back to. Oh, so Penicillin. Yes. So they were the first
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  mass producer of Penicillin. And what's that used for? It's really, really common. It's an
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  antibiotic here. And they IPO's. It's been public for 80 years now. And they IPO'd at $24. New Zealand?
• 8:02
  No. Yes. But the market cap was $12 million at that point. And now it's at $240 billion.
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  What's the, what's a share worth now? I love that she does this. She's like, she's like, don't ask me
• 8:17
  complicated questions. But it's like, surely that is one that you have. No, but like really. I like,
• 8:22
  does it, the share price alone doesn't mean anything. I know, but I'm just interested. You're using
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  41. Oh, so it's only double. No, but it's had five stocks, but throughout that time.
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  Oh. So it's that's why you kind of can't be like, oh, the share price has gone through
• 8:37
  the stock split for anyone that's losing and thinking what the hell is that? Yes. We actually have
• 8:41
  a full podcast on stock split. It's number 44. So if you do not know what a stock split is and you
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  would like to pause this episode and go and have a listen, it basically is a full on red flags,
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  green flags, what you need to know about them. Yeah. Yeah. And in short, stocks are a good thing
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  and it means that your share price has done so well that you want to make it more attractive
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  to investors. So you split the stocks. You, you're not only better or worse off, you're just
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  splitting the share price. So that's why you can't really be like, oh, the IPO at $1280
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  years ago and now it's at 41. It's not comparing apples to apples. No, it's not. It's not. And am I
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  saying from my memory from episode 44, stocks, but it's the main reason they do it is to open up
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  the gate for investors that might not have enough to say buy a share that's $2,000, but they might
• 9:33
  be able to buy a share if it's $200. So if you already own a bunch of stock and say apple and they
• 9:38
  do a stock split, you still have the same value of stocks. It just gives other people the chance
• 9:43
  to buy in. Yeah. And it's kind of a bit redundant now with fractional shares. You know, like on
• 9:49
  shares and stuff where you can buy a 20% of a share or quarter of a share if you don't have enough
• 9:55
  money, but it's still a really good time. Anyone can jump on DIY platforms now and buy a $10 worth
• 10:03
  of a Tesla share or $20 worth of an apple share if they want. Yeah. But it's more for investors,
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  as in big pictures, zooming out. It's a good sign because it means, or generally historically,
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  you've said it's a good sign. Yes. Yeah. Because it means that the share price is doing really well
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  so that they can split it and create more. And they also IPO'd with 240,000 shares and they've
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  now got 5.6 billion shares. Oh, there's a lot of numbers. Sorry. Welcome to finance.
• 10:35
  No, but so here's some more numbers for you. Can you break it up? Yeah. Okay. Something else.
• 10:42
  They launched Viagra in 1990. Thank you. I love that you're like, this will get it. So they launched
• 10:49
  Viagra when was that? 1998. And it wasn't that long ago. Yeah. Well, that movie wasn't that long ago.
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  Was that the thing that put them on the map? The Viagra? It was that really what, you know,
• 11:00
  really shot them out of the gate. It propelled thrusted them forward. I was trying to think of
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  Pums too. It really sprung into action. Really lifted things up for them.
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  Really showed the company a good time after that. Yes. Look off like a gold day.
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  That was so good from us. Yes. Viagra and its first year alone bought in a billion dollars of
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  sales in one year. Just in one drug. But the thing with drugs is that they create companies,
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  pharmaceutical companies, create them. They have a patent, which lasts, which kind of gives them
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  a competitive advantage for a set number of years. So patent basically means you're buying no one
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  else can create a virus. Exactly. Yeah. Yeah. You've got kind of, you've got control over that
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  for a certain time. And is that because they internally found the recipe? So they're like,
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  this is ours. It's copyright basically. And it creates innovation and product development.
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  Because other companies will be like, well cool, spend all this money researching and developing
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  something, launch it and then another company is just going to come and copy it. So it kind of
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  gives you protection for a wee while. And that's, they so they had the patent until 2019 and then it
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  rolled off. But to be honest, a lot of other companies can go and buy the drugs, break them down,
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  figure out what's in them, just like a recipe or you know, if you wanted to copy musely by,
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  go and buy it, break it down, what's in it, we'll just recreate it. So yeah.
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  It's almost like first in market is always a good thing. Yeah. Like if you can be first there,
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  do a good job. Then you're kind of already in people's pockets or penises, however you want to put it.
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  Yeah. It's okay. It's a bit of a surprise to getting it too. Yeah, yeah. Sorry, sorry.
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  But yes, that is the thing with pharmaceutical companies is that it's all about how successful
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  your clinical trials are and your products are. And then the better they are, the better they will
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  be performing in market. And therefore you can create more. So it's like kind of this big flywheel,
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  you know, the more revenue generate from these big successful drugs and we can put back into
• 13:02
  discovering new ones. And so you constantly want to have this scale and these really successful
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  drugs in the market that they can find. Yeah. And she's still going.
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  That can then be put back into these other ones because not all of the trials will be successful.
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  But they cost a lot and they take like, you know, over five years on average. And that's why the
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  COVID one, everyone was like freaking out. It's because it's like, oh gosh, you know, with Pfizer,
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  COVID happened in March. And they 2020 and they had a vaccine in December, which is pretty.
• 13:36
  That wasn't a far. That was my foot. Sorry. Yeah, that's scary. That's why there was so many people
• 13:44
  not wanting to take it. But again, it's the scale. It's like the speed that they can stop all the
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  other clinical trials. They can accelerate this one. They've got government funding. They've got
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  all the technology there. It's just yeah, the Pfizer has 36 manufacturing sites around the world.
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  Like I mentioned, just pausing everything going, right, we're just going to focus on one drug and pump it
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  out. They made 2.3 billion. Sorry, there's a lot of numbers coming out. But I was quite mind blowing,
• 14:09
  mind blowing. 2.3 billion doses of COVID vaccine. How many people even are there in the world? That's
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  a shit lot. Well, then you've got boosters and all that as well. Yeah, so people need multiple
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  doses. But they also sell products to 185 countries in the world. Pfizer. Wow. Like they're massive,
• 14:32
  they're huge. Huge, huge. How many countries in the world? I was like, there's only 10 countries
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  that Pfizer doesn't operate. Wow. Imagine your business infiltrating the entire world. Yeah,
• 14:42
  that's quite amazing. And so what other aspects of this company did you find interesting? Yes,
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  so one thing was, so when we talk about investing companies, we have talked about investing
• 14:56
  responsibly. And with pharmaceutical companies, there's a lot of discussion and debate around
• 15:04
  how they get their products to market, you know, into pharmacies and to doctorate. And investing
• 15:09
  responsibly for anyone that's like, is essentially responsibly not meaning like you're being an
• 15:15
  adult, but actually looking after the planet, the people, thinking about holistic effects that
• 15:21
  that company will be having based on their success. So are you basically saying the question is,
• 15:26
  is Pfizer invertecon is responsible company? Yes, because it's had a fantastic track record
• 15:31
  financially in terms of its return on its investment. If you invested say 80 years going
• 15:37
  at first IPO, you would have made a lot of money. And so it's kind of like, yes, that's one part
• 15:44
  of it, but now a lot of people are going, but is Pfizer, you know, a responsible investment?
• 15:50
  Is it a company that's actually doing well for the planet, for society? Is it being run well?
• 15:56
  All those kind of things. And so what you find and you start digging? Well,
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  firstly, is that it made a lot of money from the COVID vaccine? If I was people were racing to
• 16:09
  get that vaccine, right? Because it was a money game really. And there was just such an opportunity
• 16:15
  of every single country in the world needing a vaccination. It was like, yeah, saying dollar signs
• 16:21
  everywhere. Yeah, so it was, it was a race. And this was the advantage of Pfizer, they had the
• 16:25
  scale and the expertise to roll it out, you know, rather than a little one man band, one female
• 16:33
  band. Isn't that so far? I keep noticing stuff like even the other day someone said to me,
• 16:38
  think about the language you use, like masturbation, menstruation, you know, like just the way that
• 16:45
  words are like administration is something that women do. Why the fuck is it called menstruation?
• 16:51
  Yeah, you know, just stuff like that. Yeah, woman woman. Oh, yeah, we're a woman, like, yeah.
• 16:56
  Like, hi guys. Yeah. Oh, so guilty for that. And it's just stuff that you just don't notice
• 17:02
  it's so ingrained and the way we speak. Yeah, no, that's very, very true. But yes, so there was a lot,
• 17:10
  they got a lot of, I guess, flak for, was it flak? Yeah, slak. No, they got a lot flak. They got
• 17:18
  a lot of flak. Yeah, just for the amount of money they made from the COVID vaccine, when really
• 17:23
  people should have been like, you know what, but you should, you shouldn't be making money off
• 17:26
  this. You shouldn't be profiting off people dying and people needing vaccinations. And I'm into
• 17:31
  a camps because I think there's got to be some incentive for the company like that to stop
• 17:38
  everything and focus on a vaccination. It's going to save the world. And governments have a lot of
• 17:44
  money and they should be able to pay you. So there's so many, like, some people will be completely
• 17:48
  not agree with me, not agree with what Pfizer did, you know, they just saw me different. I just,
• 17:53
  you know, when companies do good things and everyone's like, oh, they're just doing it for the PR,
• 17:57
  whatever. Like, when you can't go near, yeah, when Patagonia basically gave all of their entire
• 18:03
  companies worth to help climate change. Yeah. There was, I mean, I don't necessarily know what's
• 18:09
  right or wrong with that particular situation. It's like, I would rather people still do things,
• 18:13
  even if it's for a PR push. And it's going to have the positive effect on the world. So if Pfizer
• 18:19
  had been like, all right, this is our time to shine team. We are donating 50% of the vaccine products
• 18:24
  to XYZ. Can you imagine the positive impacts that would have and how much money it would be?
• 18:30
  It's like my mum. She's like, I've sponsored a child in Africa for a,
• 18:36
  got a number of years now. She's very cute. He's eight years old now.
• 18:42
  Was your mum giving you shit for it? Well, she's just like, you realize they clip the ticket
• 18:45
  and not all the money goes. And I was like, of course, they do totally. And I was like, but it's more
• 18:49
  than me not giving anything to them, you know, like it's even if I paid $50 and only $30
• 18:56
  got there. That's 30 more than I was ever doing if I wasn't sponsoring the child. So it's like,
• 19:00
  yeah, it's just, yeah, anyway, you can never please everyone. Yes. But anyway, so that was kind of
• 19:09
  one part of the investment case with Pfizer that people didn't agree with because if you looked
• 19:15
  at their revenue, so here's some more numbers for you, but I'm going to slow it down because this
• 19:19
  is quite important. So in 2020, they made $42 billion. So this is pre-vaccination of revenue
• 19:28
  and $10 billion of profit in 2021. So this was the vaccine. Yeah, they made $83 billion in revenue.
• 19:38
  So they've gone from $40 billion of revenue. So it basically doubled.
• 19:41
  Basically doubled. And 36 billion of that. So pretty much all of it was from the 2.3 billion doses
• 19:49
  of the COVID vaccine that I mentioned before. And another thing is that with the FDA, which is the
• 19:55
  organization where you have to get approval to launch drugs in the US, they used to have to have
• 20:02
  be tested on animals. So that's kind of a big thing as well. Used to be or still used to be.
• 20:07
  Yeah. So they're no longer required all drugs, but there's still certain drugs that have to be
• 20:11
  tested. And so I did some googling and Pfizer 99% of the animals that they use are rats and mice,
• 20:20
  which doesn't really make it much better. But yeah, again, and there's another thing. It's like,
• 20:26
  okay, well, do you create a cancer-saving drug and test it on humans or rats and mice?
• 20:34
  You know, like it's so controversial. So we actually did a full episode on testing on animals
• 20:40
  with Tara Jackson, who is amazing. She's so, so clever. But she really works in the space.
• 20:47
  She's an expert when it comes to animal cruelty. So if you are interested in learning more about
• 20:52
  that, it's episode 32-32. Yeah. And I totally agree for cosmetics purposes, for skincare,
• 21:00
  all of that, I think that's a big no-no, but for drugs and pharmaceuticals. It's funny how
• 21:05
  everyone has different totally. You know, because for me, I'm just like, I don't know. I don't
• 21:10
  even know the answer to it. No, neither. Yeah. That was a really interesting episode, though,
• 21:14
  number 32, all about understanding, because her Tara's favorite animals were rats. And so when
• 21:22
  she was talking out, she's like, it's no excuse if it's rats or not. Anyway, so that was another
• 21:27
  tick and not particularly ethical. And it's just a thing I also think when you're investing
• 21:33
  in large companies is that they have their fingers in so many different pies. You know, there's
• 21:40
  probably going to be something that they're doing that you're not going to agree with. And it's
• 21:43
  deciding whether are you okay to live with that or are you not. And so that's what you've constantly
• 21:48
  got to think about. You know, if you're investing in a smaller company, you have a much, you have
• 21:52
  much bit of visibility around its operations and where its manufacturing sites are, where its staff
• 21:58
  are located, where its stores are located, where its sales things. So you can kind of understand
• 22:03
  the company better and figure out if that's what you want to be aligned with and what you want
• 22:07
  your money to be invested in. Whereas bigger companies, it's a bit more difficult. So it's just
• 22:11
  something to be aware of. One thing I did love was that 43% of the women in VP or higher
• 22:18
  roles, which means vice president, which is quite high. Quite high. Yeah, like senior management.
• 22:24
  Yeah, 43% of women. So that's a pretty high stat. Like some people might think,
• 22:30
  well, it's still about 50% but yes. No, that's still really good. But also that I reckon could
• 22:35
  arguably be just based on talent. You know, like that's such a small gap that I don't reckon you
• 22:41
  would look at that and be, well, I personally would look at that and think that's pretty good.
• 22:45
  Yeah. Yeah. No, definitely. So if we looked at the five points around how to pick a winning
• 22:51
  investment that we always talk about. Which episode was this? This was one of our first episodes
• 22:56
  we've ever done. Episode 14 that was looking at the briscoe stock and we basically went through
• 23:01
  those five criteria to see if that company ticked all the boxes. So if you're still new to investing
• 23:08
  in your wanting to learn what you're actually looking for, when you're looking at stocks and what
• 23:12
  are good companies, then that's a really good episode. So let's do Pfizer. Okay. Oh, fun.
• 23:18
  Love games. Okay. So who is in the management team? Who's running? Yes. So the CEO has been there.
• 23:26
  So he doesn't own a lot of stock, which kind of a red flag, maybe a brown flag. You know,
• 23:32
  not too bad. But he's been there for, he's been in the company for 25 years and he's been CEO since
• 23:41
  2019. So how much stock does he have? Does he have any? Yes, he has, he has, but it's like
• 23:48
  meaningless. Right. Yeah. Which, I mean, which for a company this size, it's kind of hard to have
• 23:54
  a lot of stock unless you are the founder and you've held it all the way through like a Jeff Bezos
• 23:58
  from Amazon or something. Also, there's probably an element of the fact that he's been a CEO for so long.
• 24:04
  Probably cancels out a little bit. The idea that he doesn't have much stock. And he's the chairman
• 24:08
  as well. So he's kind of got two roles. So the chairman is at the board over a cheap limit.
• 24:14
  He's like, okay, just have one role mate. Right. Robert.
• 24:18
  Albert. Albert. Was that just the same in the dark?
• 24:28
  Yes. So he's been there a while. So and the company has done fantastically well,
• 24:32
  historically. So and he's navigated through one probably of the most difficult times in
• 24:38
  the company's story. He's done like a Jacinda Ardern on the company's. Yeah. So I'd say medium tick
• 24:45
  for them. Medium tick. Yeah. Like a yellow flag, maybe. Yeah. I just put green and red to
• 24:51
  you. Oh, yeah. Oh, God, I'm sorry. I don't know my primary colors. Yeah. What about it's surely
• 24:57
  revenue, like visibility in terms of being able to see revenue would be quite strong because
• 25:01
  they'd have so many people pre buying and buying in stock. Yeah, bulk, buying in bulk, buying,
• 25:07
  buying, recurring drugs that they need to restock. To restock. And kind of flows into the next
• 25:14
  hour and it's around structural growth industry. Society's getting older. The baby boomers,
• 25:20
  everyone wants to lead a more active lifestyle, but there's still diseases and new diseases
• 25:24
  occurring as well as we live our lives. So we need the sizes of the world. We need creating
• 25:29
  drugs. Definitely. The other one was the balance sheet. Yes, they've got a very strong balance
• 25:35
  sheet for company their size. They've got very, very little debt, which is really, really good.
• 25:40
  So it means they can take on a bit of debt and grow it faster. Nice. And then secret sauce.
• 25:48
  Viagra surely. Yes. Well, that's one of them. I mean, it's come off patent, which means that
• 25:52
  anyone can make it Viagra now. Also, the surely secret sauce is creating the vaccine as well.
• 25:59
  Yes. Yeah. First to market for things. And I think it's also, like I said at the beginning,
• 26:04
  having that flywheel of like, it's almost like success begets success. You know, like it's
• 26:09
  the more successful you are, the more people you can hire, the more expertise to create
• 26:15
  more better drugs, better drugs in the pipeline, more successful drugs. Therefore, it costs less.
• 26:21
  You know, it's just a whole kind of flow on effects of being successful. Yes. So
• 26:28
  more successful drugs means less costly to create new drugs, which means more profit, more money.
• 26:33
  Yes. So I would say that would be their kind of competitive.
• 26:36
  Advanced. Yeah. So it does tick a lot of boxes. But I think the responsible investing angle
• 26:43
  would probably one that people might want to think about if they want to invest in Pfizer,
• 26:47
  you know, something might be sitting there being like, you know what, their drugs saved my dad
• 26:51
  or saved my mom and, you know, helped them get over cancer or, you know, so it's kind of,
• 26:55
  they'll have like a very personal attachment story. Others might be like, you know what,
• 26:59
  no, I can't sit here and be comfortable with the fact that they still invest on animals. So
• 27:03
  yes. Each to their own. Yes. It's been your dollars where you want to. Also, love that
• 27:10
  this is the names of some of the drugs.
• 27:14
  Equus in lighter in lunch.
• 27:19
  Standy. Oh, my. Oh, my.
• 27:22
  Pharmaceutical companies can they just come up with a drug called drug A, drug B? Also,
• 27:28
  like we'll look at their, they've got like two squared on the name. So like three's and one's and
• 27:34
  that's horrendous. Yeah. So they're just making a complicated name by a group. I like it.
• 27:40
  Just call it a penis drug. I don't know. Make it simple. Keep it simple. Just put what it does
• 27:47
  in the name, then save some marketing. But you know, you know, when you go and buy something,
• 27:51
  you don't want to be like, hi, can I just have the penis drug? Do you know what I mean?
• 27:55
  Like inspired and employed by condoms in the supermarket? Yeah. That's so funny.
• 28:00
  And that is Pfizer. Would you ever invest in Pfizer?
• 28:03
  Wow, it's quiet. Sorry. Yes. Yeah. Yeah. Yeah. I think especially as we are heating into
• 28:15
  probably a bit more of an uncertain environment, just people are still going to need drugs.
• 28:20
  And they're still going to, they're still going to be disease. People are still going to age.
• 28:24
  So yeah, interesting. I don't know. But it's not the most spicy stock. Yeah. Yeah. So some people
• 28:30
  might be like boring. Yeah. If I'm a sort of cool next episode, please.
• 28:35
  If you're still here, I think so. And we'll finish on another Jake Gyllenhaal. Oh my god.
• 28:42
  Just took around it out. Should we do a sleep over one night and do a Jake Gyllenhaal movie?
• 28:47
  Make fish tacos, watch a movie. What are the movies? I've broke that. What are the movies? He's in
• 28:52
  hate. Some quite a lot of action films. Yeah. One where they dial in like to like a 1-1-1.
• 28:59
  And he has to like save them. I remember that. Yeah. Yeah. He's a few serious roles. Yeah.
• 29:04
  Any role. Yeah, we love him. Yeah. He can take the very grah. Yeah.
• 29:11
  Are there any people need to? Have you saw me naked?
• 29:13
  I think he would if you were in that outfit. God.