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[Music] w [Music] hi everyone it's Alyssa Corum here and welcome to monthly market report for the month of December I'm joined as always by hedge fund manager and founder of the ropel report Jim ropel Jim great to see you as always great to see you and happy New Year happy New Year Jim oh my gosh the month of December we've got a lot to talk about we really do it's it's been quite a quarter it has oh wow quite a year quite a year 30% NASDAQ yeah I mean who can complain about a little volatility

at the year end especially Jim when you have someone like you which major props once again for some preent advice you were hedging ahead of that big drop on December 18th hedging has become a really big tool in my toolkit it's saved my butt and uh I mean people we've had a very choppy period here it's been volatility both ways and this month has been kind of rough and you know the Santa Claus rally is real but that's the index and the highly appreciated stocks just between Christmas and New Year seem to get killed and

you know if you give money away Charities or you give I give highly appreciated stock they're mandated to sell it immediately and they all everybody waits you know like they go oh taxes if I don't give that stock away right now I can't write it off this year so everyone's wiring out going to Fidelity signing the things send it off to my favorite charity and they're dumping this stuff and then you know when you have a monster year well first of all the Santa Claus rally it's only like one and a half percent over X

number of days who cares that's that's nothing that's a day um and it Santa did not show up this year and today's close did not make it any more optimistic for tomorrow uh I have this horrible history between Christmas and New Year's Eve where I just get crankier and crankier because my my monsters melt down you know hedge fund managers are locking down profits and right I think when the FED came out uh uh hawkish they hedge fund managers just said I'm not waiting for year I'm I'm dumping this stuff right now and I think

that's why we had that Wicked I don't know why it's a guess it was wicked and we've definitely seen a pickup in the volatility since then um but in terms of the backdrop and what what you see from here I guess you know shortterm and medium term what would you say is your outlook in the immediate future I put r report temperature three out of 10 I'm very cautious right here I mean the short-term indicators have become very muddy and negative and then that historical selling after a monster year people that want to delay their

gains 15 months instead of selling right now and paying in three I think we could get pounded on January 2 third I mean in 2000 January first day of trading in January the NASDAQ went down 7% in like two days so I think we could see that so short but post that I am Monster look at that I'm I'm s there you go that's 7% in two days and I I don't I don't count that out that's a long shot 7% but if we were down three or four I would I am going in Max

Ma I'm I'm really hedged heavy and I'm GNA pile it on into the ill liquidity tomorrow so um but you said Outlook I think we need to get through chop I think the dollar needs to break or at least not stop going up and then I think next year you said the backdrop I mean I've been doing this for right on 40 years almost exactly to the month I Was series 7's licensed 40 years ago this month I've never seen a backdrop like this in my whole life ever not the the dominant fundamental factors I

I hate to say this I'll just use the word the new Administration don't throw things at me but we have Elon Musk VC ramaswami Howard lutnick past CEO of caner Fitzgerald Scott bent he is a global macro hedge fund manager um David Sachs venture capitalist I'm reading and I I I don't I met most a couple of these guys anyway these are the most Pro business cabinet America's ever had instead of pro business pro-innovation deregulation corporate tax cuts which should boost earnings so investors should like that what about crypto these guys combined over own over

half a billion dollars of Bitcoin they threw that look what's his name the guy we got to get rid of he says I'm I'm resigning on Election or um inauguration day he's the worst I mean we're GNA take the sand out of the gears pump three million more barrels of oil a day and oil the gears get the golden Goose's Wings flapping even harder and the gears of Commerce turning mergers I mean I know you're super young but back in the day in the 80s it was merger Mania it was a merger every two three

weeks of and what that does for the market and then the IPO Market is CLO it's we've had like what 15 or 20 IPOs this year at the 2000 top we had 375 IPOs that year wow yeah so we're so early in this thing um how about the department of Doge let's cut 2.5 trillion out of a$6 trillion dollar economy what's what's that GNA do and we the government crowds out spending okay so we take that out the economy can flourish AI we haven't even discussed AI I mean what do you do when corporations start

to implement Ai and they become more efficient and their margins expand what happens if the average company in the snp's margins expand by 3% what what's they gonna do for the PE of the S&P and then it's it's deflationary I mean right because I think that's the concern inflation and what the FED is going to do because clearly December 18th that was a that was a Fed rea action oh may you know the fed's not going to cut rates as as much as once was expected in 2025 that's for sure but that Target moves like

crazy coming into this year I think people were looking for seven Cuts yeah it moved so much this year but but there's two kind there's first of all the FED is not hawkish they're still gonna cut just on a slower scale and if they're going to slow it down because the economy is strong the economy is still strong and they're going to still cut now if in now here's the caveat all right if rates start going up because inflation heats up that's a really different picture but I don't see it I mean employment's a little

soft housing is weak um it it's almost a goil lack scenario I 40 years in the business I've you said backdrop the dominant fundamental factor is definitively the new Administration na AI doish fed I mean and there is froth there's a little bit of froth with these Quantum names I think they're kind of yeah low quality the best quantum name is is Google which was completely in the doghouse a month ago like low RS below the 50 choppy and now it's really looks great yeah and here it is here's a look at the daily chart

of Google parent alphabet and the weekly so definitely showing relative strength here Jim look at that wall of blue volume in the last three four weeks I mean mag s is crazy strong I mean crazy strong um which is why the NASDAQ is looking so good I I guess that would be the other concern gym in terms of the the 2025 Outlook it seems like stock Pickers Market is the name of the game Dead on I do not think although I am bullish for the year I I think that we're going to have a tougher

time with less wind in our sales so the individual stock picker is going to rise to the top but I do think the wind is in the market sales I I have if I was next month let's do predictions for the year I have a whole I have a whole sheet of them I would love to share um I have to give my subscribers first but NE you want to do that and we'll both pick targets for the NASDAQ oh okay I've never done that sounds good sounds fun but you know one thing we didn't

talk about we mentioned Google Nvidia Google looked like crap three four weeks ago if you look at Nvidia or look at Google first right it it cracked below violently below the 50-day it relative strength back there was like 50 40 or something um now look at Nvidia please had a an update today it's hanging in there so it's been defying the down days in the market it's right on the 50-day in Nvidia reminds me of Google about four or five weeks ago except it's actually a better setup and if you look at SMH on a

week on a weekly you seeing it look at that look at how tight it's getting in there it's holding above the ma we come out of there Nvidia could light up the tape now if it breaks down to the downside that's G to be just as negative but look at TSM I think it's wildly underrated and um it's significance it's a trillion dollar Foundry and it it did try to come out three four days ago but with the market this ugly or it's not allowing things to come out really right now but that is a

big signal to me um if you get Nvidia to engage with apple rocking Netflix rocking Google rocking the whole mag seven is oh my gosh how could we not talk about Amazon yeah Amazon's looking pretty good too and everybody's freaking about the transportation average what if it's just that Amazon has a better Logistics system in delivery I mean iyt did crack and that's a that's a that's a significant negative but I don't think Commerce really travels in hard Goods like it used to I mean Trucking we're in a digital world Commerce goes over the Internet

so data I think Amazon is such a great proxy for the real underpinning and also Uber has a big position in the in the transport average which looks like yeah absolutely and then of course another Mega cap Tech uh in full disclosure I own it is Tesla what momentum this has seen uh especially since the election but even before that the earnings report I think that was a tricky time to be buying uh this one or initiating there but for sure it seems like it's been all systems go after the election I Mak sense and

Tesla to me is likely to be a absolute star next year and I this is kind of a sidebar segue but um my family got a Roomba because of our new dog and I'm sitting there watching this thing I'm like this is Free Labor and this is a dumb robot this is very basic yeah and I'm like oh my gosh I can see the possibilities for what might go on here by the way I was a mega bear on Tesla for three years like I hated it but now it is born again institutions are gobbling

this thing up it's by the way it is an Institutional darling and this is a monster breakout over what 274 was the pivot and then there were multiple others totally entitled to a digestion but next year this has got to be on the Hit Parade list and and the P what are the possibilities for where this could go I mean like it 800 a share is not that's not crazy at all um definitely has uh momentum and and the story in its favor oh by the way Elon Musk is almost the vice president of the

United States and JD Vance is a private Equity guy I mean just look at the stack of this cabinet if you don't make if we can't make money and by the way Trump gauges his success on the market performance I I just don't see these guys throwing sand in the gears I see them throwing oil in the gears and if you look at oil what if you know oil's been incredibly docile in in a like a multi-year downtrend and Scott pet says we want to pump three million more barrels a day if it breaks 65

there's no real support till like 45 and that is I think every dollar up or down is a billion dollar tax or Surplus to the US economy and that and it it that chokes off all these terrorists and dictators these natural resource despots you crack oil the economy flourishes terrorism goes down Israeli stock market do you know that it it beat the US market this year with all the fear and Hamas and all these bad characters and the market beat the US is really that's impressive fear there's a lot of fear out there there's um

the buffet indicator and remember when he dumped half his Apple position it was like oh done and look at it now right I I just love it when yeah I think that was when was that that was in the fall right October yeah somewhere in the fall you can't even see it now on the chart people are crying about breath oh breath is terrible it's the worst it's the worst I saw Bill on and off for 40 years I have hundreds of pages of notes there's not one word of breath Bill never at least with

me he never discussed breath so no doesn't worry I'm not worrying yeah I think especially if you are focused on the leading stocks and and looking for that momentum because I mean in my screens that have you know some fundamental and Technical parameters I'm seeing plenty of stuff setting up so you just have to be looking in the right places there's some froth but there's also a lot of flags and four five week digestions and you know it's going to be hard for the market to go down if the mag 7 doesn't break now that

so hedging wise I'm shorting equal weighted indexes in the money calls shorting the index outright okay that is options are such a valuable tool I mean they can really turbocharge your upside and save your bacon and I'm I don't like going long puts I like to short calls but that it's a higher risk strategy but um look now is the time not to lose teacher call on me I want go for it okay I don't want people to give back this monster monster year so I'm gonna give you like three rules super basic that'll save

your butt when the market is below the 50-day your buying window shut just shut there's no reason unless you get an upside reversal follow through day or then you can re-engage if the market is above the 50-day by its historical average for the last year or two close the buying window are you so extended if it's extended it's totally extended you're like oh yeah I know but this is breaking out yeah okay so maybe the nasdaq's gonna extend another percent or two and then fall five right if you're buying when the market is that extended

yeah you're gambling that it's going to extend into a historically higher level than it has just cool it and by the way you're probably mega long already so if it does extend into a greater level than it has historically you're super long yeah um and that's where I did a lot of hedging up there this year many times I was super lucky with that December 18th break I didn't know I just knew it was way overdone yeah exactly so that's definitely a good thing to review any other rules to keep in mind Jim if you

have a stock that you love like I love Cava but it is living in the nogo Zone if it you this must for me must remain a Max hedge position until it gets back above the 50 which could take six months right I don't know but it and by the way there could be fraud who knows it could be a complete scam and they're cooking the books and it's going to go to zero I don't know but if I'm hedged I don't care but they have what 350 stores they're expecting a thousand in five or

six years I think that number is way light I think they're going to have 1500 um and this hedging strategy of course Jim and and holding it versus just getting out with you know some of the cell rules that's triggered is because you have a low cost basis and a huge cushion and all of these other uh fundamental factors that you're mentioning so that's why you're willing to sit with it with a hedge on I've had I've because I sold it but I don't think I I didn't get in as low as you did are

you in a taxable account yeah okay well I'll just tell you a quick story on the I do both I do I do both in the IPO of Starbucks I was just had a couple dates with my current wife I walk in early sales manager goes oh early bird here's a thousand shares of Starbucks my wife my girlfriend's like I want it I'm like ah I'm not sure gave it to my buddy and it gave the other part to my biggest customer he made like 40 mli ion Dollar on it now look at the look

at the earnings misses along the way the bare markets they do they have 30,000 stores is that about right they have a lot it's not un now Starbucks is a more consumer nondurable and it's a lower cost price point but there's going to be a lot of disappointments along the way if Cava does persevere and go from 300 stores to a thousand it's not always going to be straight up right so I'm super bullish on it fundamentally technically it's ugly yeah but again you got you got in it you know when were you getting this

spring I'm not exactly sure yeah Yes somewhere I was not super early but I caught it early enough when it turned yeah I was see I wasn't getting in until that last retake of the 10 week so I decided just awesome awesome regaining the 10 we on volume yeah yeah looked great on The Daily I think the RS line was at or near a high when it was getting back above there too but anyway so it I wasn't in there as as low as you were but at any rate yeah I think that's that's a

good example you know if we are in this Mega bull Trend how can investors because I think a lot of people out there they want to hold they they always ask us what is the best stock for the next three five 10 years and that's such a hard question to answer right but I think you're discussing it if you have a strong entry you build that good cushion it has that story and you're able to withstand the pullbacks and the bases along the way that's that's how you get there but there's no predicting in advance

per se Bill taught me you have to use the product go to the store bill would go and count literally count cars in Costco parking lot or pick and save or Price company whatever I love their food most people I know say I go more but it's so far from me I need one closer yeah that just says more locations to me yeah I mean and I want to go back to the three years up in a row the LA look at what happened through the internet Revolution we had multiple threeyear up in a row

now again if you go back to the beginning what's if you assume that Netscape I was the beginning we had that was a long bull market and I think this AI Revolution is going to take half it took almost 30 years if you say today we've discovered 90% of the uses for the internet how long is it going to take to understand all of the possibilities for AI to build the infrastructure get the data um build the applications and monetize that's going to take a decade right we're likely to have multiple threeyear up in a

row now there will be asteroids there'll be a currency crisis or housing crisis or something punctuating it along the way but I've never seen conditions like this in my 40 years ever we don't be shocked if kids who are graduating today just get this amazing you know wave to surf in that gets them to midr you know midlife where they're going to have some serious money in their Bank yeah this is a huge opportunity I think I mean I mean for 10 15 plus years not the next and everyone's so micr focused right now like

me we just have to get through January 2nd and all this tax dumping yeah that is crazy talk if I wasn't running a hedge fund I would not I'd be kicking it I'd be in Cabo I would not be fretting this at all well that's uh that's reassuring I'm sure to a lot of investors out there okay so we've talked a lot about the backdrop how to handle stocks that do have that promise over the Long Haul but maybe in the short term are struggling you talked about your hedging strategies you also talked about your

buy switch and looking at the major indexes especially the NASDAQ I would I would say but also the S&P 500 does it depend Jim which one you lean on more is it the leading index or is it always the NASDAQ that you're focused on what would you say in terms of of that buy switch because we are seeing a little bit of a Divergence here the S&P 500 is below that 10we line is that adding to your caution here yes but again we're what in the short off the High I mean it's kind of been

compressing yeah I I my stocks are generally higher volatility again I want I almost always demand liquidity so I'm looking at the highest liquidity highest earnings grow the magic Elixir right and my stocks more correlate to the NASDAQ yeah if if you look at like equal weighted NASDAQ it has really been struggling and Russell Russell hasn't done anything in about a year I mean so it is a MAG seven Market at this minute now mdy by the way which is The Sweet Spot of sweet spots does look pretty good to me I mean it's is

that mdy it is look can you look at it on a weekly please let's look at it on a weekly this is really if you can catch a small midcap that's going to go to a small large cap you just made a killing and that and there's IPOs are almost all junk low quality no earnings lot of roadblocks still you get to midcap you get a little seasoning you proven you have some staying power and then all a sudden you get all the canceling characteristics liquidity floods in from the institutions who've learned it and that's

where they're mature enough but yet small enough where they can have have really ramped up earnings growth and you avoided a lot of potholes so I love midcap okay so we'll we'll keep an eye out for some potential midcap winners uh you know Jim uh the discussion on Cava makes me think of another uh stock that had a lot of promise and and was great for a good amount of time but the picture has changed and that is Eli Lily so talk to me about your updated outlook on this stock and the the biotech sector

I mean clearly we've seen the broader Health Care area weaken in a big way uh for the last couple of months I mean ever since early September so there's definitely been a rotation out of the health care sector do you expect that to continue for the next little while you must read the RO report I mean I was so raging bullish on and new information entered the game the new Administration is going to fight procurement and they're going to and RFK is anti-drug and the greatest names in the world can turn sour you always have

to be vigilant but these are 100% noggo zones we are okay this remember my rules I said below the 50-day you must hedge the position and assume it's going to go to the 200 yeah and this had a look at that high volume when it broke this is not look my favorite my family's always been in biotech and I love xbi but it has gone bad I loved Lily I loved biotech Lily I'm sorry xbi had a failed breakout attempt and it's and I I love medical device that sector is G isrg is like the

last pillar hanging you know and that's a phenomenal phenomenal company but this sector you know there's winners and losers with government government picks they choose and they have decided to um get the club out and beat these guys up I mean Trump is gonna come out and pound on drug CEOs for pricing that that is look just look what he did last time except he's smarter now he has more experience so anyway I'm out on biotech short term medical and all this but by the way AI was supposed to benefit drug drug Discovery more than

almost any other area and that what's is a GE what's it's okay it was an IPO AI drug company that thing looks like death I'm trying to think I it shows you how it's out of favor because I can't remember it right now but when it but when it came out yeah that that um temporarily was exciting um the prospect of it but yeah not not anything we're looking at anymore because it's just it's just out of favor everything about this says no gozone 50 is below the 200 the relative strength is collaps to 28

it's a series of lower lows I mean nobody nobody should yeah if you understand technical analysis you're you're if Kathy Wood had this conversation she would still be the number one fund manager but she doesn't understand risk management or below the 50 day yeah yeah guard rail right our guard rail helps us constantly helps me constantly that is for sure okay so uh do you want to talk about some new names that you are watching Jim I will not give you my top five names for the new year I will do that next month I

want to save that for some other people but um stock setting up yeah how about like uh Brothers Coffee I'm super intrigued these guy by the way management owns 24 or 5% of this look at that digestion it's in and it is it reminds me a lot of a very early Starbuck I don't know if iced coffee has the market but the earnings are coming around I was very bullish initially and then it just went into a slumber i i i dismissed it and I'm a massive hypocrite because I don't really like wide average daily

ranges this is a more volatile name yeah but when I go to the stores and I see two lines with four people with their little computers and cars there the car parking lot is so jammed I saw people banging I saw one car banging into another one it's a mob scene you know and I have subscribers they send me videos like Jim in Texas there's you know there's it's a Matt I'm like this is I like this very much and the chart corroborates what I'm seeing and uh I I like it very much uh I

think vict there's a million jokes we can make but Victoria's Secret has a new CEO these are not my best ideas they're just ideas that are improving and I know you liked aboc crownie a while back it's kind of that sector yeah CEO came in right around eight 1618 a share about six months ago and the market likes this and look at the volume drying up the last three weeks part of that seasonal volumes drying up in general but through 50 or 49 on volume this is a very good set it's the handle's getting a

little low what is it how far off the highs are we right now uh let's see let me go to the the weekly 14% off getting high getting to the end of I don't want to see it go down a lot more now if we break bad bad and we get a shake out and then it bubbles back up like a basketball underwater we going to get really bullish and I'm I I don't know the fundament fundamentals well enough to take a big stock position right but through that 49 that is a could be a

great option trade yeah I don't pretend to know everything about every retail brand uh but I I would not have the kind of conviction in this one as I did in abber cromie but everything lined up it was the story The fundamentals and the chart you need you need all of that right so this definitely has the chart and the fun and the fundamentals there so yeah I guess it just depends on how much conviction you have that impacts your position size that's what you're saying for sure and kind of sometimes I see stocks that

I think are really fattish and they don't have the durability that I would so I I understand that the life cycle of that trade is going to be Pro probably be a lot shorter but one that's come back from the dead that's really caught my attention is twillo okay the pattern is look at the tiny little three weeks tight handle where it explodes out of there yes and now it's digesting it's uh tightening up it did have a kind of a rough week last week in volume but over the no there's overhead I cannot ignore

the overhead yeah on the monthly here but this is a very attractive chart with a wall of blue one two three four six weeks in a row up volume oh that's months yeah oh yeah I switched to the monthly on you yeah you know Jim it's interesting it does seem like there's a number of software stocks that are looking interesting versus the chip sector it seems like the pickings are a little bit more slim in chips and there's a proliferation of watch lless stocks over on the software side now whereas before it's it seemed a

little bit the reverse we should look at igv and then we should look at avago and uh but igv is telling well first of all I rely on others for my a lot of research and I'm reading that AI is starting to monetize in software something like a service now Oracle um the whole sector has kind of lit up and it's it's like who's going to benefit from AI first so okay I go to broadcom or do you still want to talk about let's look at AVG avgo please I was so wow with nvidia's earnings

that I and you look at these very you know they were singled digigit earnings growth but last quarter the world changed for avago the mark the market embraced it and it's now that that's accelerating Bill Bill loved accelerating acceleration and I think I I'm I don't know I doubt it but it's possible remember blackberry and rim yeah there was no other comp there was no smartphone that was it they were everything and that stock was one of my re you know I romantically remember this a lot did you ever see that movie no they made

a movie um I think I I saw it on an airplane but it I think it was a Canadian film but it was about rim and blackberry you need to you need to watch it you need to watch it J well it'd be a fine memory because this it was about how how they be came to be the rise and fall look at the beautiful cup and handle at the dead lows around 12 around $12 a share coming out of there this thing went nuclear peaked with the market in early 2000 and then it imploded

now nobody could see that at the time they were they had 90 they were dominating the market like Nvidia and then Along Comes apple and to adapt they they that's it they're over a Blackberry is no it's is it a 50 cents a share or something I don't even know I think they've tried to reinvent themelves uh to some extent with other products but it's just it is not what it once was by any stretch of the imagination I don't think avago is going to De demolish Nvidia but it is more of a win or

take most scenario and if you look at these other semiconductors like Micron Advanced Micro and God forbid look at arm arm looks like a big head and shoulders top yeah that doesn't look good this looks bad asml I I do feel certainly avago broadcom is completely in gear and stronger than Nvidia but Nvidia Nvidia look at this monthly chart this thing is sporting power and in an other but then I don't understand why the SMH is not as bad as all these others SMH looks phenomenal to me assum I guess the waiting the waiting of

Nvidia and TSM I believe it's got to be but I'm very bullish on this area and it's going to be hard for me to believe AI is going to roll on if semis don't engage so that'll be a key thing to watch in 2025 for sure all right anything else Jim that you want to cover today do not give it back I know so many people I get all these call oh a subscriber gave this to me and and so when I start getting gifts at the end of the year that is a hot Market

it's a signal other hedge fund ERS I know looking at beach houses 30% bonuses for Wall Street across the board froth in the quantum stocks tax related selling um we may have some turbulence in the near future but I cannot ignore the overall strongest backdrop I've ever seen in my 40 years like there's just too much to be positive now again number one don't give it back do not your hubris everybody it's like we're we've got that intoxication going I'm G to buy calls I'm taking a bigger position I'm going to lever up more yeah

taking making riskier bets when I'm getting gifts from whatever like that's a signal it's too hot maybe right now if you came in you know from Gilligan island or the mainland and you realize you have all this money in cash this is not the time to deploy huge amounts of cash we again again we're only about 2% over the 50 day on NASDAQ but it's compressing it's about 3% off the high but 2% off the 50 I just think we have a little turbulence don't give it back until we see we don't really need a

follow through day today but I'm I'm slightly cautious shortterm but I think next year is going to be a monster stock Pickers Market I'm our contest we're having a contest okay five best stocks so we can go over market caps or whatever and Target on NASDAQ sounds good and actually have something to I just thought of something I meant to add earlier but something that I want to add to the end and full disclosure I do own Nvidia and Jim sounds like you're still in Nvidia right I'm very long Nvidia long it's gonna take look

at what I've sat through it's gonna take a lot to get me out yeah at this point yeah but what I was gonna say was uh just because I don't think we're going to have another episode until after this happens but uh CEO Jensen Wong is going to be a keynote speaker at CES on January 6th and the last time he was a keynote speaker I believe it was in 2018 or so perhaps 2019 one of those but he just and I was there and it was just announcement after announcement after partnership I mean he's

gonna come with some fireworks are the expectations too hi uh we'll have to see we'll have to see but I I don't think that he would agree to be a keynote speaker at CES unless he had some major announcements planned and in store so I'm looking at that as the next potential Catalyst uh it's it's not a lock like you always say it's not guaranteed but that is what I'm looking for I want to see a positive reaction uh from those CES announcements will just have to see if that happens and if so what the

magnitude of that reaction looks like I was unaware so I'm so glad I listen to this show so I get all great information yeah I'm I'm now I'm actually probably slightly more bullish than I was before you said that well we'll we'll see what happens you know it all comes down to the reaction right but that is that is happening so we need a one more thing moment oh and by the way one more thing Steve Jobs there you go do you have a do you have one more thing Jim I just want to say

the Golden Goose is real oil breaking is going to suffocate terrorism the conditions are phenomenal for speculation and I think a lot of people in the next five 10 years are going to lock up and cement down their retirement of luxury Golden Goose is real that's I'm finished how about you there you go yeah I think just manage risk we always got to bring it back to that focus on quality not just that next shiny object right like you mentioned the quantum stocks I mean hey I guess if you really feel like you can manage

risk and you're dialed in with your entry and your position size and your stop then you know that's one thing but otherwise I I want to focus on a strategy that is sustainable for the long term not hey how can I make 100% in two weeks by making these risky moves with these super speculative stocks that I don't really know anything about but are just spiking left and right right I want to focus on that quality I want to be picky tie my entries with hopefully good setups in the broad Market because like you said

if if you have a good setup but the index is extended your timing can be off and you can get shaken out so focusing on entries quality risk management and yeah hopefully we get another great year our Mentor every time I talked to him he was not an a leader he was in the single leader Quantum stocks do not fit can slim you want a swing trade you want a cowboy that's fine but expectations are really important yeah Dr and Miller probably greatest alive average 30% Buffett less than 20 most people I know are 50

100% or more we need to dial back and remain super selective reread Bill's book when was the last time you read reminiscences or how to trade in stocks keep that up front and center so that'll keep you from giving it away there you go exactly well said Jim well it's been a pleasure this has been a great year this was a new show for us this year and I I'd like to think it was a success maybe I'm a little biased but I think it was a pretty great show that we had this year so

thank you for doing it with me it's super fun I love doing it it's like this is not hard or painful it's just fun we love it we're just having fun I'm buying what you're selling there you go all right well thank you Jim and thanks everyone so much for watching this show every month we really appreciate it as always and we'll be back again next month for our next installment of monthly market report see you then e e