Latest / Felix Nikolas Prehn's Podcast / Felix Prehn - JPMorgan's Shocking Warning + Stock Market News 01 October 2025

Transcript

Felix Prehn - JPMorgan's Shocking Warning + Stock Market News 01 October 2025 · Felix Nikolas Prehn's Podcast

• 0:00
  SPEAKER_00: If you own any stocks at all, what JP Morgan's market intelligence just revealed is either going to make you wealthy or it's going to make you broke.
• 0:10
  SPEAKER_00: Now they share this only with institutional clients, and that's what annoys me.
• 0:15
  SPEAKER_00: So I'm sitting here on this lovely fly going to Japan.
• 0:18
  SPEAKER_00: I was just reading this and I thought might be something useful on this.
• 0:20
  SPEAKER_00: And I was like, everybody needs to know this.
• 0:23
  SPEAKER_00: So if you agree that we as retail investors deserve the same quality of information as Wall Street, put a Gree in the chat and I'll put up more of this kind of information.
• 0:34
  SPEAKER_00: So I've made some notes and I'm going to share with you the five key points here.
• 0:39
  SPEAKER_00: Now the audio is going to suck, it'll be wobbly, but I think none of that really matters because ultimately this is about information, an information edge.
• 0:48
  SPEAKER_00: And I want to make sure you have an information edge going into the most important months of the year.
• 0:55
  SPEAKER_00: We're now over 90 days, maybe even almost a hundred days in the stock market without the 3% pullback.
• 1:03
  SPEAKER_00: That's the longest streak in over eight years.
• 1:07
  SPEAKER_00: That very, very, very rarely happens.
• 1:10
  SPEAKER_00: And JP Morgan just made a market call so bold it could be bigger than anything we've seen since the COVID rally.
• 1:18
  SPEAKER_00: And I'm going to break down for you exactly when to buy, what to buy, what those five steps are.
• 1:25
  SPEAKER_00: So stick with me if you want to be informed.
• 1:29
  SPEAKER_00: You might be wondering why the heck should I listen to this weird guy on the plane?
• 1:33
  SPEAKER_00: I used to be an investment banker.
• 1:35
  SPEAKER_00: And since I retired, I've made it my mission to dedicate that retirement to help other people understand how money works and level up.
• 1:44
  SPEAKER_00: And it's been super fun so far.
• 1:45
  SPEAKER_00: We've helped over 20,000 people in our academy.
• 1:48
  SPEAKER_00: I'm a co-founder also of Trade Vision, which where we make all sweet quality data and news available to you, which is just insane.
• 1:56
  SPEAKER_00: Check that out.
• 1:57
  SPEAKER_00: There's a link down below to that.
• 1:59
  SPEAKER_00: But let me run you through the first warning here from JP Morgan.
• 2:03
  SPEAKER_00: And this is all good news, by the way.
• 2:05
  SPEAKER_00: I'm not going to try to frighten you here.
• 2:06
  SPEAKER_00: But their positioning intelligence team just called, well, I'd call the bombshell, honestly.
• 2:13
  SPEAKER_00: Five significant warning signs that you want to watch out for so you know what to do and when to do it.
• 2:20
  SPEAKER_00: Now, their warning for the season, they're basically saying September typically sucks.
• 2:25
  SPEAKER_00: We had a pretty decent September, actually.
• 2:27
  SPEAKER_00: They say October typically sucks.
• 2:28
  SPEAKER_00: You typically make 1% in October.
• 2:31
  SPEAKER_00: So don't be discouraged if your portfolio isn't running at the crazy pace we've had this year.
• 2:36
  SPEAKER_00: We're still up 15% this year, which is way, way, way above average.
• 2:40
  SPEAKER_00: So they're basically saying, prepare to be disappointed, but stay on track.
• 2:45
  SPEAKER_00: And there's a simple reason for that.
• 2:46
  SPEAKER_00: The rally's been too perfect.
• 2:48
  SPEAKER_00: It's too beautiful.
• 2:50
  SPEAKER_00: Too much winning.
• 2:51
  SPEAKER_00: Um, it's literally been the strongest rally since the COVID rebound.
• 2:54
  SPEAKER_00: 2015 was the one before that.
• 2:56
  SPEAKER_00: So you expect some pullbacks and don't be scared out of your market.
• 3:01
  SPEAKER_00: But more concerning is that you are very bullish.
• 3:05
  SPEAKER_00: You, the retail investor, I'm a retail investor too.
• 3:07
  SPEAKER_00: We're as bullish as we've been not been since 1999.
• 3:13
  SPEAKER_00: And that means, well, something happened in 2000 because I started investing in that year.
• 3:19
  SPEAKER_00: I lost half my money.
• 3:21
  SPEAKER_00: So I just want to make sure you don't.
• 3:23
  SPEAKER_00: And one thing I'm going to do for you, actually, beyond this video with the crummy audio and the and the wobbliness, but high quality information, is I'm going to run a live training session for you guys when I land.
• 3:35
  SPEAKER_00: And it'll be Wednesday evening, 9 p.m.
• 3:38
  SPEAKER_00: New York time.
• 3:38
  SPEAKER_00: And I'm going to literally teach you how Wall Street, these guys, these buggers and the big banks, how they actually pick winning stocks.
• 3:47
  SPEAKER_00: Because they have a rule book for that.
• 3:49
  SPEAKER_00: They don't make it up.
• 3:49
  SPEAKER_00: They don't go to the office in the morning and go, Did anybody have a dream about a stock?
• 3:53
  SPEAKER_00: That's not how it works.
• 3:54
  SPEAKER_00: They have a system that they use.
• 3:56
  SPEAKER_00: I will walk you through that system.
• 3:58
  SPEAKER_00: How do we pick the industries in the sector?
• 4:00
  SPEAKER_00: How do we pick the best stocks in that sector?
• 4:02
  SPEAKER_00: How do we set all that up in just a couple of hours a week to potentially make much, much, much, much more outcome?
• 4:09
  SPEAKER_00: I said potentially, I'm not promising it, but likelihood is it'll improve your outcomes.
• 4:16
  SPEAKER_00: Now the second part is they're giving us some tripwires to watch.
• 4:21
  SPEAKER_00: So JP Morgan, the best market data in the world, they're saying there's specific triggers that could either send the market higher or send it tumbling, and you're going to want to know what they are.
• 4:31
  SPEAKER_00: So write these down.
• 4:32
  SPEAKER_00: The first one is the Russell 2000.
• 4:34
  SPEAKER_00: If you want to track that, we can track like a IWM, this is a ticker.
• 4:38
  SPEAKER_00: That's that's the ETF for it.
• 4:40
  SPEAKER_00: They're basically saying it's the coal mine, uh the canary rather in the coal mine.
• 4:45
  SPEAKER_00: It tells you whether the rally has legs, because either the Brussels breaks higher, brings in lots and lots of new money, that's institutional money sitting on the sideline, still sitting in bonds, or it fails and we sell off, and that could then spread.
• 5:03
  SPEAKER_00: And why does it matter?
• 5:04
  SPEAKER_00: Why do we watch the Russell rather than the SP?
• 5:07
  SPEAKER_00: Because the Russell are small companies dependent on the real economy, dependent on their ability to borrow lower interest rates, all that kind of real stuff.
• 5:16
  SPEAKER_00: And when small caps start running, it means real money, real institutional money believes in the economic recovery.
• 5:26
  SPEAKER_00: Because if the economy falters, yeah, Microsoft will be fine, but your small company will spill probably collapse.
• 5:33
  SPEAKER_00: So it's a real, really, really good reading of whether the economy's doing well.
• 5:37
  SPEAKER_00: And then we have the profit masters at the Federal Reserve with their interest rates, they're basically saying if rates keep coming down, so we get another cut in um, you know, is it November, December, or is it October and December?
• 5:51
  SPEAKER_00: And what are you gonna see?
• 5:52
  SPEAKER_00: Well, your cyclical stocks are gonna go nuts, and we're seeing that your high short interest stocks, so your really crazily risky think uh Kathy Woods type stocks, you know, arc K, that kind of type stuff, that could fuel a massive, massive rally.
• 6:09
  SPEAKER_00: So you want to be prepared for that before these interest rates so you understand what to do, and then you want to look for one of the best ways to get exposures to that.
• 6:17
  SPEAKER_00: So again, join me on Wednesday evening for that.
• 6:20
  SPEAKER_00: I'll walk you through that, FelixFrence.org slash training.
• 6:22
  SPEAKER_00: And then they're warning again about retail sentiment, you and me, right?
• 6:25
  SPEAKER_00: We're emotional human beings, and therefore they care about us.
• 6:28
  SPEAKER_00: We also have a fair bit of money.
• 6:29
  SPEAKER_00: If the market keeps grinding up, we're gonna keep putting more money into it because people like to chase late, and it is a little late.
• 6:36
  SPEAKER_00: But you have to also think about this retail is very heavily invested.
• 6:39
  SPEAKER_00: So if they're all in, where does that leave us for the next quarters?
• 6:46
  SPEAKER_00: Where is that money gonna come from?
• 6:48
  SPEAKER_00: And that's a question it needs answering because at the moment we're literally relying on you and me putting more money into the market.
• 6:53
  SPEAKER_00: That's where it's coming from.
• 6:54
  SPEAKER_00: Now, possibly much lower interest rates will bring some of that bond money back in because the bond market's gonna pay lower interest rates, but that's yet to be seen.
• 7:04
  SPEAKER_00: And then they gave us this is point three here, a bull case that could make you literally rich.
• 7:11
  SPEAKER_00: JP Morgan says that, not me.
• 7:13
  SPEAKER_00: Um and they're saying, look, seasonality sucks in September, October, right?
• 7:17
  SPEAKER_00: So see September is usually crap, September is uh October is usually pretty disappointing.
• 7:21
  SPEAKER_00: Um, and well, there's a flip side to that.
• 7:26
  SPEAKER_00: What happens in the last two months of the year?
• 7:29
  SPEAKER_00: For some reason, the Christmas spirit goes around, and there is an over 90% likelihood that the market goes up in the last quarter.
• 7:36
  SPEAKER_00: Uh, it's just the way it works.
• 7:38
  SPEAKER_00: Um, so essentially, September, October shakes out people who don't really know what they're doing, whereas people who know what they're doing are likely buying that dip, and then they're setting themselves up for a wonderful end of the year.
• 7:50
  SPEAKER_00: That's kind of the way I look at that.
• 7:52
  SPEAKER_00: And then JP Morgan has these indicators that only they have.
• 7:55
  SPEAKER_00: They build in-house, they're proprietary, nobody has access to them.
• 7:58
  SPEAKER_00: And one of them is called JP Morgan's proprietary positioning model, TPM.
• 8:04
  SPEAKER_00: And it's starting to literally break out all of it.
• 8:06
  SPEAKER_00: It's a longer-term trend.
• 8:08
  SPEAKER_00: And I mean the longer-term trend has been very, very good already.
• 8:10
  SPEAKER_00: And that means, well, what does it mean?
• 8:13
  SPEAKER_00: Well, institutional models like this, when they start to break out, it doesn't just suggest further upside, it suggests one to two years of big, beautiful gains ahead.
• 8:25
  SPEAKER_00: But they're not going to be equal.
• 8:26
  SPEAKER_00: There will be sectors that'll suck, and there'll be sectors that bring in loads of money, right?
• 8:31
  SPEAKER_00: Just look at the last couple of months.
• 8:32
  SPEAKER_00: We've had, you know, gold and uranium and some AI place and some semiconductor place.
• 8:38
  SPEAKER_00: They've done tremendously well.
• 8:40
  SPEAKER_00: And then a lot of people are sitting on stocks and they're not really doing anything because they don't understand how the money flows around the market.
• 8:46
  SPEAKER_00: The market is a bunch of buckets.
• 8:48
  SPEAKER_00: And Wall Street's job is to put the money into the bucket that's going to give them the highest return.
• 8:53
  SPEAKER_00: Now, retail's been just told buy and hold, they just hold all this rubbish, and therefore they underperform.
• 9:00
  SPEAKER_00: So I'm going to fix that for you if you join me, if you expense log slash training on Wednesday.
• 9:06
  SPEAKER_00: And then there's the short interest, and I just touched upon that briefly.
• 9:10
  SPEAKER_00: They're basically saying, look, there are quite a lot of stocks with 20 to 20 or 30% of their float being shorted, which is it's like a crazy time, crazy high multi-year high.
• 9:23
  SPEAKER_00: And it just means there are people out there who think that these companies that are rubbish, I know.
• 9:27
  SPEAKER_00: I think plug is an example, for example.
• 9:29
  SPEAKER_00: It's a terrible business, right?
• 9:30
  SPEAKER_00: It's been bullish on it for uh for a couple of months because the setup is actually very good.
• 9:35
  SPEAKER_00: And that goes up a bit, gets short squeezed, it goes to the moon potentially.
• 9:39
  SPEAKER_00: Please don't put all your money in plug.
• 9:40
  SPEAKER_00: But you know, if you understand that, you understand the entry point and the exit point, there is potentially a lot of money to be had there.
• 9:46
  SPEAKER_00: And it's just lying on the floor and you're, you know, you're walking over it because you haven't got the skills to actually understand that.
• 9:51
  SPEAKER_00: So you know what I'm gonna say?
• 9:53
  SPEAKER_00: Come and learn the skills with me on Wednesday.
• 9:55
  SPEAKER_00: But literally, those things can go up 50%, 100%, 200% in a short period of time.
• 9:59
  SPEAKER_00: If you know how to look for them, that can be a really, really cool thing.
• 10:02
  SPEAKER_00: And then just going back to the Fed for a second, they're hopping around a little bit in this report.
• 10:06
  SPEAKER_00: Um, they're talking about the mid-cycle magic.
• 10:09
  SPEAKER_00: What's the mid-cycle magic?
• 10:11
  SPEAKER_00: When interest rates come down, and we just have the first cut.
• 10:15
  SPEAKER_00: The next six months are historically very, very, very good.
• 10:19
  SPEAKER_00: The next the six to twelve months after that are typically very, very good, unless you get a recession.
• 10:23
  SPEAKER_00: Now, I don't see you as getting a recession because I think you know Washington is drunk on money.
• 10:29
  SPEAKER_00: They're gonna just spend more money and avert a recession.
• 10:32
  SPEAKER_00: So we're gonna get lower interest rates.
• 10:33
  SPEAKER_00: And think that through.
• 10:34
  SPEAKER_00: Lower interest rates means more money because you can borrow money more cheaply.
• 10:39
  SPEAKER_00: It's essentially like money printing.
• 10:40
  SPEAKER_00: And then that money is gonna want to make a return.
• 10:42
  SPEAKER_00: So where does it go?
• 10:43
  SPEAKER_00: Well, it goes by the highest return sets, which is likely stocks, maybe some gold.
• 10:48
  SPEAKER_00: And then on top of that, you get the passive investors, the ETF crowd, right?
• 10:52
  SPEAKER_00: And that's probably a lot of you.
• 10:54
  SPEAKER_00: And we typically see a big uptick in ETF flows towards the end of the year, particularly as the market keeps grinding higher.
• 11:02
  SPEAKER_00: And actually, that ETF flow hasn't been that strong late of late, which is a good thing because it means there is a pot of money, a bucket of money that we could actually pour on this on this on this rally, a bit of a bit of oil on the fire, so to speak.
• 11:14
  SPEAKER_00: Uh, and again, that flow when it picks up, it could be the tide that takes us much, much, much, much higher.
• 11:23
  SPEAKER_00: And then their fourth point is just cash.
• 11:26
  SPEAKER_00: The US consumer is sitting on an extraordinary cash pile,$21.8 trillion.
• 11:35
  SPEAKER_00: Now, five years ago, that was$15 trillion.
• 11:38
  SPEAKER_00: So we've added like$7 trillion to cash.
• 11:42
  SPEAKER_00: Now, that doesn't make you think there's inflation out there, and that money printing is well money printing, I don't know what is.
• 11:48
  SPEAKER_00: But the thing is that this is real wealth, and it's like gushing about and cash and some sort of you know money market funds and so on.
• 11:57
  SPEAKER_00: And as the market grinds higher, the fear of missing out on this rally and this realization that I think we're likely in a sort of economic boom time, maybe it's dead field, whatever, but it's a boom time.
• 12:09
  SPEAKER_00: Uh, people want to take advantage of that.
• 12:11
  SPEAKER_00: And people are gonna like put more and more and more of that money there in.
• 12:13
  SPEAKER_00: And I think we're gonna see a lot of that towards the end of the year, especially as rates come down.
• 12:17
  SPEAKER_00: Now you might be wondering where that money is all coming from.
• 12:19
  SPEAKER_00: Well, look, the COVID recession was the first recession where wealth actually increased.
• 12:25
  SPEAKER_00: We've never had that before.
• 12:26
  SPEAKER_00: In 2008, US households' wealth dropped by 8 trillion.
• 12:31
  SPEAKER_00: In COVID, it increased 13 and a half trillion.
• 12:34
  SPEAKER_00: And of course, it's just money printing and government handouts largely, but still the wealth is there, it's gushing around, and money always wants one thing.
• 12:42
  SPEAKER_00: What does it want?
• 12:42
  SPEAKER_00: Well, it only has uh you know one thought, and that's you know, more returns.
• 12:46
  SPEAKER_00: That's exactly what's happening here.
• 12:48
  SPEAKER_00: And when people feel more wealthy, what do they do?
• 12:50
  SPEAKER_00: Well, they spend more, they feel good, right?
• 12:53
  SPEAKER_00: It's like housing prices go up, people go out and buy a new car.
• 12:55
  SPEAKER_00: Makes bug of all sense, logically, but it's just you just feel feel wealthier, right?
• 12:59
  SPEAKER_00: Your portfolio goes up, you're thinking, well, let's go out for a nice dinner, right?
• 13:03
  SPEAKER_00: Because you feel richer.
• 13:04
  SPEAKER_00: Not realized wealth in a sense, but it's just uh perceived wealth.
• 13:10
  SPEAKER_00: But they also put in some risks, and of course these guys have to because legally they're obliged to do that.
• 13:15
  SPEAKER_00: But let me run you through those very quickly.
• 13:16
  SPEAKER_00: There are four risks here.
• 13:17
  SPEAKER_00: The first one is just AI exhaustion.
• 13:20
  SPEAKER_00: Um, basically, if the i rally gets tired, if there's sort of uh there's this circular investment thing, uh, which is kind of crazy.
• 13:27
  SPEAKER_00: We think about making a video on that.
• 13:29
  SPEAKER_00: Uh basically the AI companies keep reinvesting in a in a in a cycle and they just keep keep making the same money go around, uh, and then that somehow you know increases value.
• 13:38
  SPEAKER_00: But I do use AI every day, and and and I can tell you it's getting tremendously better and it's amazing.
• 13:44
  SPEAKER_00: And it'll be even more amazing and allow us to create things at a scale that wasn't previously possible.
• 13:50
  SPEAKER_00: So I'm actually quite bullish on that, but it's a risk.
• 13:53
  SPEAKER_00: Um, what about unemployment?
• 13:55
  SPEAKER_00: Yeah, it could spike.
• 13:56
  SPEAKER_00: Look, the government might shut down this week, for example.
• 13:58
  SPEAKER_00: They might lay off more uh federal employee employees, and they might never hire them back.
• 14:03
  SPEAKER_00: But look, there is essentially a significant reduction in immigration into the US, and that's policy.
• 14:09
  SPEAKER_00: Uh, and that's making the market tighter.
• 14:11
  SPEAKER_00: You have 10,000 Americans retiring every single day.
• 14:14
  SPEAKER_00: Uh, that's making the labor market tighter.
• 14:16
  SPEAKER_00: So I don't really see it, plus, quite frankly, with AI.
• 14:20
  SPEAKER_00: We well, does it kill jobs?
• 14:23
  SPEAKER_00: It'll kill some jobs, but it'll also create a lot of new jobs.
• 14:27
  SPEAKER_00: So it really just depends on where you're sitting.
• 14:28
  SPEAKER_00: So there might be a period where you have a little bit of higher unemployment, but it's historically at low levels.
• 14:33
  SPEAKER_00: I don't really think that's a big issue.
• 14:35
  SPEAKER_00: Um, and then yeah, what about growth?
• 14:37
  SPEAKER_00: Look, yeah, there is a an argument out there that the economy is actually much weaker and that we've just come out of a recession, and it really is only government spending that's holding us up.
• 14:46
  SPEAKER_00: And I think there's truth throughout only the government spending is holding us up, the AI investment's holding us up.
• 14:50
  SPEAKER_00: Some of that is also government, you know, think the CHIPS Act and all that stuff.
• 14:55
  SPEAKER_00: But if you're an investor, worry less about the economy because there's always a part of the economy, there's always an industry that's doing really, really well.
• 15:02
  SPEAKER_00: And that's probably why I want to get across to you in that live session tomorrow.
• 15:06
  SPEAKER_00: It'll be like an hour and a half or two hours.
• 15:08
  SPEAKER_00: Um, and I'll teach you that because even if the market's going down, something's going up, and we're gonna make money out of that.
• 15:14
  SPEAKER_00: So that's really what I would focus on.
• 15:16
  SPEAKER_00: And then geopolitics, I wouldn't give it a second thought.
• 15:19
  SPEAKER_00: Because unless you're an oil trader, you really shouldn't give a shit.
• 15:23
  SPEAKER_00: I was gonna say something there that YouTube doesn't like me to say, but you know what I'm saying.
• 15:27
  SPEAKER_00: Um, focus on what you can control.
• 15:29
  SPEAKER_00: You control you, you control your skills, you control which bucket you put your money into and how much you put into it.
• 15:34
  SPEAKER_00: Uh, don't let don't let the geopolitics be an excuse for not getting to your outcomes.
• 15:40
  SPEAKER_00: So the the bottom line here is essentially we're at an inflection point here.
• 15:46
  SPEAKER_00: This market keeps grinding up.
• 15:48
  SPEAKER_00: It'll be the greatest bull run we've ever seen.
• 15:50
  SPEAKER_00: I think there is a good reason, if you listen to the politicians in Washington, um, that they're gonna make a bull run happen for the next two or three years.
• 16:00
  SPEAKER_00: And you're either part of it or you're not.
• 16:02
  SPEAKER_00: And it'll be certain sectors as I say, look at the SP 500, 500 stocks, right?
• 16:07
  SPEAKER_00: 10 of them make all the returns.
• 16:09
  SPEAKER_00: The other 490 are basically a complete waste of life.
• 16:12
  SPEAKER_00: Uh, so again, you want to be positioned in the right places.
• 16:16
  SPEAKER_00: Maybe, maybe the next 20 are still worth having.
• 16:20
  SPEAKER_00: So we hop around to an extent uh from the buckets that are growing, and we get out of the buckets that are leaking.
• 16:26
  SPEAKER_00: And that's really what I want to teach you if you come and join me tomorrow at uh felixrens.org slash training.
• 16:32
  SPEAKER_00: And um, yes, I'm wearing green trousers, so the market must be bullish.
• 16:36
  SPEAKER_00: And um, we're gonna go and have a lovely time and um enjoy Japan for the marvels and wonders that it has, one of my favorite places in the world, some of the greatest people in the world, some of the greatest food in the world.
• 16:47
  SPEAKER_00: If you haven't been, uh put that on your list of things to do.
• 16:51
  SPEAKER_00: And that's really what life's meant to be about.
• 16:55
  SPEAKER_00: It's meant to be about having time, doing something that's meaningful, doing something that's impactful.
• 17:00
  SPEAKER_00: And maybe you feel like you're really, really far away from that.
• 17:03
  SPEAKER_00: Well, just make little steps in that direction and set a target, and that's what happens.
• 17:07
  SPEAKER_00: I used to be very frustrated as a corporate wage slave.
• 17:10
  SPEAKER_00: Um, I didn't know how to get out of it.
• 17:11
  SPEAKER_00: I tried all sorts of jobs and careers, um, and I got very frustrated.
• 17:16
  SPEAKER_00: And I finally got to a place where I really focused on money and how to manage that.
• 17:20
  SPEAKER_00: And um, I just recorded a video yesterday about a chap who uh was making 15 bucks an hour and he's now got$100,000 in his account, his brokerage account, and is getting to the next step, which will be the 500k and that the million, and it'll be much, much easier.
• 17:34
  SPEAKER_00: And and um, he's already enjoying life white much, much more.
• 17:37
  SPEAKER_00: So you just gotta make a plan, you're gonna stick to it.
• 17:39
  SPEAKER_00: You gotta learn the skills to get up those steps, get up that mountain much more quickly.
• 17:44
  SPEAKER_00: It's much easier with a guide.
• 17:46
  SPEAKER_00: Um, let me teach you the buy rules tomorrow, Felix Francis Org slash training.
• 17:51
  SPEAKER_00: And if you got some value out of that, share with a friend.
• 17:53
  SPEAKER_00: I apologize for the the audio.
• 17:55
  SPEAKER_00: My editors will undoubtedly try to do some AI magic with the audio, but it'll it'll suck a bit.
• 18:00
  SPEAKER_00: Um, but I just think this kind of information, you know, when you get like 30 pages from JP Morgan and you're like, well, only only their clients get to see it.
• 18:11
  SPEAKER_00: Only the big boys get to see it.
• 18:12
  SPEAKER_00: You and me never usually get to see that.
• 18:14
  SPEAKER_00: Now I'm lucky I've got a lot of people who send me stuff, so I uh I have access to a lot.
• 18:19
  SPEAKER_00: But um I hope this was valuable for you and I wish you I wish you all the best.