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Inside The Portfolio Of The 24 Year-Old Who Made $4.5B AI Investing · In the Loop AI

0:00
Josh: So there's this guy named Leopold Aschenbrenner. He's 24 years old and last year
0:03
Josh: when we covered him on one of our old episodes he was only 23.
0:07
Josh: He was managing a billion dollars and he was responsible for investing in new
0:11
Josh: frontier AI ideas and technologies.
0:14
Josh: Today that one billion dollars one year later is worth five and a half billion dollars.
0:19
Josh: This guy who is younger than both of us by a pretty large margin just went on
0:23
Josh: a generational run that made him basically more money than any other fund in the world of AI.
0:27
Josh: And the fact that AI is the hottest market means the competition is stiff.
0:31
Josh: So clearly this guy, Leopold, he's doing something different than everyone else.
0:35
Josh: And what's just happened in the last week is his new 13F filings came out.
0:39
Josh: So we could actually get a look into what he has been trading.
0:42
Josh: So that's what we're going to do here.
0:43
Josh: We're going to go through the filings. We're going to see what this guy has
0:45
Josh: been up to that has yielded him five and a half billion dollars of money to manage now.
0:50
Ejaaz: He did this in 12 months as well. So his fund started at the end of 2024 at a right $255 million.
0:59
Ejaaz: And then within six months, he had outperformed the S&P 500 by eight times,
1:05
Ejaaz: growing it to $2 billion. Right.
1:07
Ejaaz: And then since our last episode, where we spoke about his Q3 fund filings,
1:12
Ejaaz: he's gone up one and a half billion dollars.
1:15
Ejaaz: So he's on a generational run. And like you said, he's like super young.
1:19
Ejaaz: He's done a pretty major pivot, but it's all in accordance to,
1:24
Ejaaz: I guess, his Bible, which is called Situational Awareness.
1:28
Ejaaz: And it's 165 page essay where he basically predicts that we're going to reach
1:33
Ejaaz: AGI by 2027. And in this massive essay, he basically writes a story of how he
1:39
Ejaaz: sees the AI revolution unfolding.
1:41
Ejaaz: And I've got to say, he's pretty much nailed it.
1:44
Ejaaz: He called the GPU infrastructure run, and now he's calling a very important
1:49
Ejaaz: pivot that we're about to get into.
1:51
Josh: Yeah, I think the entire thesis is a pivot from kind of chips to infrastructure.
1:55
Josh: And what we're seeing on screen here, actually, this is very cool.
1:58
Josh: He used Claude to create an artifact that is going to walk us through the entire
2:01
Josh: changelog that happened between last year and this year.
2:04
Josh: Perhaps starting with what he dumped because these positions that he dumped
2:07
Josh: were pretty large and these include names like nvidia where he dumped 300 million
2:13
Josh: dollars input options in one quarter right.
2:15
Ejaaz: Yeah yeah so a lot of these names that you're
2:17
Ejaaz: going to see on the positions that he exited are very popular names that a lot
2:21
Ejaaz: of people are invested in right now so then it begs the question why has he
2:25
Ejaaz: just exited one billion dollars worth of these companies he's dumped nvidia
2:29
Ejaaz: he's dumped broadcom he's dumped tsmc he's dumped micron these are all the big
2:33
Ejaaz: AI infrastructure companies.
2:36
Ejaaz: He actually made money on dumping NVIDIA, by the way.
2:39
Ejaaz: He held a $300 million PUP position, which means that because NVIDIA price went
2:44
Ejaaz: down over the last couple of months, he's likely made money on it.
2:48
Ejaaz: And so it begs the question, why is he doing this?
2:50
Ejaaz: Well, if you read his 165-page essay, he talks about how sometime by the end
2:56
Ejaaz: of 2025 and the start of 2026,
2:59
Ejaaz: He thinks that a lot of the market would have priced in the value of GPUs.
3:04
Ejaaz: And that is coming from companies like NVIDIA and Broadcom, who kind of like
3:08
Ejaaz: create these chips and then stack these chips ready for AI labs like OpenAI
3:11
Ejaaz: and Anthropic to train their models on.
3:13
Ejaaz: And now he moves his focus onto the major constraint that investors haven't
3:18
Ejaaz: really invested in just yet.
3:19
Ejaaz: Energy and infrastructure. The issue that a lot of AI labs face today is one,
3:24
Ejaaz: not only do they have too many GPUs, but two, the energy grid that we have today
3:28
Ejaaz: is built to serve humans and not the massive AI demand that we face today.
3:33
Ejaaz: And that's where his investments are focused on.
3:36
Josh: And I'm getting a kick out of seeing the NVIDIA puts being sold and just like
3:39
Josh: exiting NVIDIA entirely.
3:40
Josh: Because when I talk to my friends, when I talk to average people on Wall Street,
3:43
Josh: when you turn on CNBC, NVIDIA is the company.
3:46
Josh: NVIDIA is the biggest investment. And to see him pivoting away from that, I
3:49
Josh: think is a testament to him just again being ahead of the
3:52
Josh: curve moving to where things are going and not where they
3:55
Josh: have been which in his mind is this infrastructure
3:58
Josh: it's this moving away from the ships into the infreplay and that's probably
4:01
Josh: where we can get into what he added because these are the stocks that you want
4:05
Josh: to pay attention to this is what he currently owns this is what he believes
4:08
Josh: are going to go up and if it's true we should see some pretty hefty returns
4:12
Josh: from these so where do we start with the additions this quarter well.
4:16
Ejaaz: Thanks to our friend Claude, we've got a really neatly illustrated stack of
4:21
Ejaaz: all of his investments bucketed into the AI technology stack.
4:25
Ejaaz: So we've got power generation, real estate and facilities, compute and hosting,
4:29
Ejaaz: connectivity, storage and memory, chips and silicon.
4:32
Ejaaz: Actually, I wanted to just round out the last segment, Josh.
4:34
Ejaaz: I noticed that he made a trade on Intel down here. And what he cleverly did was he sold the equity.
4:41
Ejaaz: So he sold the shares that he has, but he still has a massive long position open.
4:46
Ejaaz: So he's kind of freed up liquidity to shove money in other companies.
4:50
Ejaaz: And the major companies that he's put money into is power generation,
4:55
Ejaaz: particularly this company called Bloom Energy, which until about three months
5:01
Ejaaz: ago, no one had really heard of.
5:02
Ejaaz: But they specifically build power generation turbines that help you generate
5:08
Ejaaz: power to power AI data centers.
5:11
Ejaaz: And he's built a massive position in this to the tune of $855 million.
5:16
Ejaaz: Maybe it says 876 here, but the farting says 855.
5:19
Josh: Bloom Energy being the number one position is different because it has absolutely
5:23
Josh: nothing to do with the chip stack and it accounts for 20% of the entire portfolio.
5:27
Josh: And I was doing some research on what they do and it's actually kind of interesting.
5:30
Josh: They create these like oxide fuel cells which
5:33
Josh: is a fancy way of generating electricity on site
5:36
Josh: from natural gas so a lot of times when natural gas is fed into
5:39
Josh: these data centers it has to go through a turbine which
5:42
Josh: like heats and cools things and it's a very clunky energy creation
5:45
Josh: process what these bloom boxes do is they take
5:49
Josh: that natural gas and have a fuel cell that converts it right on site
5:52
Josh: to usable electricity for the data centers and it's modular
5:54
Josh: it can be deployed quickly and there doesn't
5:58
Josh: seem to be a shortage of it i believe they're set to create two gigawatts of
6:01
Josh: this um just this year so it's an interesting play on power because i was looking
6:07
Josh: for the nvidia of energy like who who is the chip maker but for energy and i
6:12
Josh: don't believe there is one and there's a world in which perhaps bloom could be that person so i.
6:17
Ejaaz: Actually looked into their uh recent finances they're a public company they
6:22
Ejaaz: have a 20 billion dollar demand backlog um their revenue was up like something like 34% in 2025,
6:29
Ejaaz: and they're projecting another 40% increase in 2026, after that 2025 increase.
6:36
Ejaaz: So there's like no shortage of demand.
6:38
Ejaaz: You mentioned fuel oxide cells.
6:40
Ejaaz: The reason why their gas turbines specifically are super attractive,
6:46
Ejaaz: is you don't need to rely on the energy grid for it. So I mentioned earlier,
6:50
Ejaaz: like right now we have an energy grid.
6:51
Ejaaz: There's a lot of constraint being put on there because humans need energy and so do AI data centers.
6:56
Ejaaz: So it tends to drive up the price of energy in the places that those AI data centers are set up.
7:01
Ejaaz: If you use something like Bloom Energy's gas turbines, you don't need to rely
7:05
Ejaaz: on the energy grid at all.
7:06
Ejaaz: You just kind of set it up right next to your AI data center and hey,
7:09
Ejaaz: presto, you now have energy at a cost-efficient price that you can now power
7:14
Ejaaz: to train or inference any of your GPUs and your data centers.
7:17
Ejaaz: So Broadcom and companies like CoreWeave are going to need this.
7:20
Ejaaz: So hyperscalers in general, as well as AI labs. It kind of reminds me of the,
7:25
Ejaaz: I don't know if you played Civilization ever, Josh. I feel like you did.
7:29
Ejaaz: It's kind of like moving infrastructure and power generation sources to your
7:33
Ejaaz: little silo or settlement to kind of grow it. And that's exactly what's happening here.
7:38
Josh: Yeah, and I think like the obvious play is that there is absolutely no shortage of energy.
7:42
Josh: So the question is, who is able to produce the most of it? And they have this
7:45
Josh: tremendously large backlog.
7:46
Josh: But I think the question is, can they actually create enough to start putting
7:50
Josh: a dent into that backlog?
7:51
Josh: The manufacturing becomes the problem here. And with a lot of these plays,
7:54
Josh: we're now moving into the world of atoms.
7:56
Josh: We're now moving into the world where manufacturing actually matters.
7:59
Josh: And I would love to, we'll do another deep dive some other time to see if they're
8:02
Josh: actually capable of manufacturing at scale.
8:04
Josh: But that's the biggest one. That's a 20 percenter. What else?
8:07
Josh: What other positions are noteworthy in this new portfolio?
8:10
Ejaaz: Well, he's added like, I think, $300 million worth of CoreWeave.
8:15
Josh: Can you explain CoreWeave? Why CoreWeave is so important here,
8:18
Josh: please, for the people who aren't familiar?
8:19
Ejaaz: Okay, so if you think about it, if you're an AI lab, you need GPUs.
8:24
Ejaaz: But it's one thing buying the GPUs from a company like NVIDIA,
8:27
Ejaaz: completely different beast, setting up those GPUs in rack servers,
8:32
Ejaaz: getting the electrical supplies, getting the technical engineering and expertise
8:35
Ejaaz: to maintain your GPU servers, the cooling systems, all that kind of stuff. So what you could do
8:40
Ejaaz: is you could outsource it to a company that is known as like a NeoCloud.
8:44
Ejaaz: That's what CoreWeave is.
8:45
Ejaaz: They handle all of that for you. Broadcom kind of does something like this,
8:48
Ejaaz: but CoreWeave was a smaller company that specialized in this,
8:51
Ejaaz: particularly during the GPU gaming era and has now pivoted to AI specifically.
8:57
Ejaaz: Leopold got in or went in hard on CoreWeave. He added $500 million at the end
9:02
Ejaaz: of Q3 in that episode that we covered back then.
9:04
Ejaaz: And he's added another $300 million here. So we're looking at what is potentially
9:08
Ejaaz: an $800 million position in CoreWeave.
9:10
Ejaaz: Now, the story goes a little deeper.
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Josh: And that's 700% increase over the quarter.
9:16
Ejaaz: Literally. But there's another layer to the story where he also owns around
9:20
Ejaaz: 10% of a company called Core Scientific, which is CoreWeave's main supplier
9:26
Ejaaz: to setting up energy grids.
9:28
Ejaaz: So if you think about bets made in investing,
9:31
Ejaaz: Leopold's probably made the largest levered bet in core GPU infrastructure in
9:36
Ejaaz: neoclouds like CoreWeave as well as energy supply like blooms these are his
9:40
Ejaaz: two biggest positions that he currently holds in his fund right now
9:43
Josh: And what i find interesting is he's beginning to own enough percentage of these
9:46
Josh: companies to become an activist investor to actually influence the outcome of
9:49
Josh: the companies which i find fascinating and as i'm going through this i'm seeing
9:53
Josh: i mean power generation is a clear one but the most positions that he's added
9:57
Josh: in particular is around 29 yes.
9:59
Ejaaz: Which is exactly
10:00
Josh: It's so fascinating like 10 new positions around real estate in general 800
10:03
Josh: and this gets to i I guess the Bitcoin mining play, because what we're seeing
10:07
Josh: here is a lot of Bitcoin mining companies.
10:09
Josh: And I think this seems bizarre and a little wrong. It's like,
10:12
Josh: okay, well, crypto is not doing super hot. Bitcoin isn't doing well.
10:15
Josh: Why is he buying all of these Bitcoin mining companies? And it's because they
10:18
Josh: own the two critical pieces of infrastructure required for AI buildouts.
10:21
Josh: They have the real estate and they have the power because I mean,
10:24
Josh: what does Bitcoin mining require?
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Josh: A tremendous amount of energy and a lot of space to put those GPU racks.
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Josh: And now that Bitcoin mining is not on its way out, but there are better risk
10:34
Josh: adjusted returns for that real estate,
10:36
Josh: It seems as if he's betting on the idea that these Bitcoin mining companies
10:40
Josh: are going to either sell their rights and their permits or just pivot to AI
10:44
Josh: data centers in general.
10:46
Ejaaz: To be clear, he does not have any interest in mining crypto with these companies.
10:50
Ejaaz: He's buying them for their licenses.
10:53
Ejaaz: They have access to the electrical grid. Usually, these kinds of things take
10:57
Ejaaz: months or years to attain.
10:59
Ejaaz: That's why, although you see all these major announcements from the likes of
11:03
Ejaaz: Meta, Microsoft, and OpenAI saying, hey, we've got $1.4 trillion worth of compute
11:08
Ejaaz: partnerships signed, but you don't see that translated into the models that
11:11
Ejaaz: they're pushing out just yet.
11:12
Ejaaz: That's why GPUs being pushed out are always a generation behind.
11:15
Ejaaz: It's because they don't get access to this permitting.
11:18
Ejaaz: Leopold has sidestepped the entire thing and is buying up these smaller companies
11:23
Ejaaz: that already have access to it.
11:24
Ejaaz: And so he's like gutting them completely of their crypto services and just repurposing
11:29
Ejaaz: them for training AI models specifically and being that provider for them.
11:33
Ejaaz: It's kind of like if you take over a bar that already has a liquor license rather
11:38
Ejaaz: than applying for a liquor license and waiting many years to get it.
11:40
Ejaaz: It's just a hack. It's really useful.
11:42
Josh: One of the things I've admired most, I think, about the thesis that
11:44
Josh: he's had and just kind of watching it play out over the last year is how
11:47
Josh: simple and yet effective it is it's like okay like
11:51
Josh: i understand bitcoin mining and obviously they have permits and
11:53
Josh: obviously they have energy and obviously every ai company wants this why would
11:56
Josh: everyone not be buying these things and i think the simplicity of these ideas
12:00
Josh: is what has kept a lot of people away from investing but over and over it continues
12:04
Josh: to be proven right and there's another um thesis that he had in that early paper
12:08
Josh: that we mentioned that was 165 pages about some timelines particularly around
12:12
Josh: agi which i thought was interesting because this guy seemingly right about everything is.
12:16
Ejaaz: He right about
12:17
Josh: Agi by 2027 are we actually going to
12:20
Josh: get that and in order to answer this prediction we have a polymarket open which
12:23
Josh: is predicting whether open ai announces it has achieved agi before 2027 and
12:28
Josh: i know the odds were against leopold when he raised this fund but like man these
12:33
Josh: odds are at 13 so it seems like a stretch that he's actually going to be,
12:38
Josh: getting AGI in 2027 and maybe the investment thesis is right and the timelines
12:43
Josh: are slightly wrong. I don't know. This seems like kind of insane.
12:46
Ejaaz: Yeah, it's like a it's a it's a small percentage chance. But I have to say he's
12:50
Ejaaz: been he was originally criticized for his essay being too outlandish and inaccurate.
12:55
Ejaaz: A lot of some like 50% of people thought that it would be happening in the next
12:59
Ejaaz: couple of months. A bunch of people said now this is going to happen until 2030.
13:03
Ejaaz: He's the only guy who's had the prediction that has been nailed so far.
13:06
Ejaaz: He called out GPUs before there was a gpu rush now he's calling out energy infrastructure
13:10
Ejaaz: before there's an energy infrastructure rush so i think he's ahead of it here yeah
13:14
Josh: If you believe he's right there is a lot to be made by pressing that yes button
13:17
Josh: on polymarket and thank you polymarket for sponsoring this part of the show.
13:21
Ejaaz: But it's not only long positions um that he has he's also short um a position
13:27
Ejaaz: and it's particularly on one company uh that company is infosys um infosys is
13:34
Ejaaz: basically a company that specializes in IT outsourcing, particularly in India.
13:40
Ejaaz: And their business model is completely based on having cheaper labor than you
13:45
Ejaaz: could get access to in Western countries like America or Europe,
13:48
Ejaaz: or continents like Europe.
13:50
Ejaaz: So the point is, hey, just outsource all your admin IT stuff to us, and we got you.
13:54
Ejaaz: And the bet that I think he's seeing here is he's seen the rise of products
13:59
Ejaaz: like Claude Code and GPT Codex 5.3.
14:02
Ejaaz: And he's realized, wow, these models are actually now good enough to automate
14:06
Ejaaz: not just menial work, but really important IT processes.
14:10
Ejaaz: And he's taken out a massive short on this company.
14:12
Ejaaz: This to me is like one of his more intellectual bets.
14:16
Ejaaz: And it's more kind of current to the trends that we're seeing right now.
14:19
Ejaaz: So it's good to see him basically put his money where his mouth is.
14:21
Josh: It's so fascinating going through this and seeing the kind of PCs play out.
14:25
Josh: I'm going to have to add some personally. I mean, this may cause me to start
14:29
Josh: diversifying a little bit.
14:30
Josh: And maybe, I mean, there has to be some issues with this, right? It's like,
14:34
Josh: going through the bull case, going through the bear case, what is there to criticize
14:38
Josh: and be cautious of when you're getting into a portfolio like this?
14:42
Josh: And I mean, the first thing that comes to mind is that this is a 24 year old
14:45
Josh: and not to just nothing against that because clearly it hasn't worked against
14:50
Josh: him, but I'm not sure he's had, I mean, he certainly hasn't had the experience
14:54
Josh: that a lot of these other investors have.
14:56
Josh: Is that an advantage clearly to some extent, but at
14:58
Josh: what point does that advantage kind of crumble apart
15:01
Josh: if so that seems to be like one of
15:04
Josh: the other the things i'm concerned about the other thing i'm concerned about is
15:06
Josh: that the fund is kind of a single thesis bet where if ai infrastructure and
15:11
Josh: spending plateaus at all or the macro environment turns every position in this
15:15
Josh: portfolio correlates to the downside there's not much hedging against that so
15:18
Josh: there is some potential for holes but nothing previously has signaled that this
15:24
Josh: is going anywhere but up only.
15:26
Ejaaz: Yeah, I mean, if you look at some of the most famous investors of all time,
15:30
Ejaaz: was never about the largest amount of money that they made in a single year or a single quarter.
15:36
Ejaaz: It's always just been about consistent returns year upon year,
15:41
Ejaaz: decade upon decade that has compounded.
15:43
Ejaaz: Leopold has had an amazing start and he's beaten the above, he's above average
15:48
Ejaaz: for any kind of hedge fund based in any sector versus just AI,
15:52
Ejaaz: but he's yet to prove himself on a multi-decade kind of time span. So time will tell.
15:57
Ejaaz: All I will say is for someone who's got fired from OpenAI as an,
16:02
Ejaaz: I believe he was an alignment researcher, but for someone who's had like major insight
16:06
Ejaaz: and had the biggest or boldest prediction as to where AI is going,
16:10
Ejaaz: he's been the only one to kind of nail it so far.
16:12
Ejaaz: So he's gone full conviction into his 165 page thesis, which I presume he put a lot of thought into.
16:18
Ejaaz: And it's paying off for him now. Now, will that change in the future? Maybe.
16:21
Ejaaz: But what you could treat these filings and these investments as is kind of like
16:24
Ejaaz: a real-time tracker of where he sees the constraints in this AI race.
16:29
Ejaaz: And I want to emphasize this point for a second.
16:31
Ejaaz: Originally, his fun thesis was GPUs. People are going to need GPUs and people
16:35
Ejaaz: are underpricing that opportunity.
16:37
Ejaaz: Now he's saying that opportunity is not overpriced, but it's market priced in.
16:43
Ejaaz: And now he sees the constraint pivoting or moving towards energy infrastructure.
16:47
Ejaaz: You've got the likes of Elon Musk that is launching data centers into space.
16:51
Ejaaz: Why? Because there's more energy in the sun.
16:53
Ejaaz: You've got everyone for the likes of Google, Meta, Broadcom,
16:57
Ejaaz: NVIDIA. all of them are kind of investing in data centers or data infrastructure
17:00
Ejaaz: that gets access to these electrical grids.
17:03
Ejaaz: And he's just putting money where that demand is. And I think it's a smart move.
17:06
Josh: Yeah, I was, I read this great post by Naval the other day, I forget exactly what it said.
17:10
Josh: But the idea of it was that basically, software companies who only rely on software
17:16
Josh: are going to have a very difficult time in the future, because it's so easy
17:20
Josh: to actually create and generate custom software.
17:23
Josh: And I think what this pivot is reflective of, not only specifically around um
17:27
Josh: building the architecture but just
17:29
Josh: bets on the physical world and bets on actual manufacturing and bets on factories
17:34
Josh: and bets on energy and infrastructure, things that can't be built using AI,
17:38
Josh: things that actually need,
17:40
Josh: human horsepower, like things that need to be built, things that need permits,
17:44
Josh: things that need legislation.
17:44
Josh: This is like the hard physical energy and infrastructure required.
17:48
Josh: And I think that tracks to kind of where the future is going.
17:51
Josh: Energy is the one thing that no one could get enough of.
17:53
Josh: And I mean, that power generation play, the real estate play,
17:56
Josh: it's all around one thing. It's just powering the future.
17:59
Josh: We saw through the last earnings season, $650 billion committed to CapEx from
18:03
Josh: just a couple of companies like Google, Amazon, Nvidia, or not Nvidia,
18:08
Josh: but whoever else is going to be paying Nvidia.
18:10
Josh: And I think it's a testament to just how much money is going to be thrown at solving this problem.
18:15
Josh: And this portfolio is ready to capture all of that upside.
18:19
Ejaaz: It's really pleasing to see someone make trades at the
18:21
Ejaaz: right time in the right places um he has
18:25
Ejaaz: made some what you would consider risky bets
18:28
Ejaaz: like again not many people have heard about bloom energy unless you're like
18:32
Ejaaz: deeply within the energy infrastructure place but they're kind of like a second
18:36
Ejaaz: maybe considered first tier energy company um but specifically used for their
18:41
Ejaaz: portable energy so like he kind of put these two puzzle pieces together and
18:44
Ejaaz: thought yeah electrical grids aren't going to support this so let me invest in this company.
18:48
Ejaaz: And he just goes in full conviction, right? We're talking about almost like
18:51
Ejaaz: a fifth of his entire portfolio in this one position.
18:55
Ejaaz: So extremely concentrated, high risk, high conviction.
18:58
Ejaaz: But if it does pay off, that's what ends up in these kind of like 4.5 to 5x
19:02
Ejaaz: returns from just a year and a half ago.
19:05
Josh: Man, and we just got to respect it, man. Like 1 billion to five and a half in a year.
19:11
Ejaaz: No, I'm not salty at all, Josh. I'm not salty at all that I'm older than him.
19:15
Josh: I will say my portfolio has not done as well as his. So perhaps we should be
19:18
Josh: taking our own advice and start copy trading because like clearly this guy is
19:22
Josh: seeing something with the clarity that we are lacking or at least the conviction
19:25
Josh: that we have not been able to place in our actual trades.
19:28
Josh: But that is the update on Leopold's portfolio.
19:31
Josh: I mean, it's an amazing feat that he's managed to do and it seems directionally
19:37
Josh: correct again like this new pivot to hardware to infrastructure to energy um
19:40
Josh: super bullish i'm not sure there's really any other things to be said other
19:44
Josh: than if you agree with the portfolio,
19:47
Josh: I mean, not financial advice. This is just this dude's portfolio,
19:49
Josh: but it seems like it is promising and it is poised to do very well this year.
19:53
Josh: And yeah, that's the update on Leopold.
19:56
Ejaaz: Yeah, I'm curious what our listeners think. You guys have been extremely active
20:00
Ejaaz: in comment sections on platforms like Spotify, Apple, as well as YouTube.
20:05
Ejaaz: Please keep the comments incoming.
20:07
Ejaaz: I'm curious whether you think our investment analysis here is professional grade,
20:12
Ejaaz: Leopold Aschenenbrenner grade, or if you think we're completely incorrect and we're
20:16
Ejaaz: missing an obvious story. No, you know what I want?
20:18
Josh: I want their number one top stock pick of the year.
20:21
Ejaaz: Yes, actually, yeah.
20:22
Josh: Like, Leopold's throwing it down on Bloom Energy. I want to know what is your Bloom Energy?
20:25
Josh: Like, what's the thing that we're missing that we need to know about that is
20:28
Josh: going to 5X again this year? Yeah, that's how.
20:31
Ejaaz: Help Josh and I, like, make better portfolio returns in this 24-year-old kid. I would love that.
20:35
Josh: Yes, please. We're scrolling through the comments. Everyone wins if you pick
20:38
Josh: a winner. So pick a winner, drop it in the comments, share it with your friends,
20:41
Josh: along with this episode.
20:42
Josh: Subscribe to our Substack newsletter, which is coming out again, I think,
20:46
Josh: the day you're listening to this um ejaz is writing the piece for this week
20:49
Josh: it's very cool every friday we release a newsletter updating everything that
20:53
Josh: happened this week and we are now doing a little more episodes possibly four
20:57
Josh: episodes per week now so we're going to keep this train going thank you so much
21:00
Josh: for your support thank you so much always for sharing for giving us five star
21:03
Josh: ratings and yeah we'll see you guys in the next episode.
21:06
Ejaaz: See you guys