📉 Navigating Market Turbulence – we share our perspectives on weathering the current market volatility. Why most investors get things wrong during inevitable market downturns and how to maintain emotional discipline when everything feels chaotic.
🧠The Psychology of Market Panic – why professional economists are often wrong about market predictions, and why systems thinking is crucial for understanding complex market dynamics that take time to play out.
💰 Investment Strategy During Uncertainty – the benefits of having cash on hand (25%) during volatile periods, the importance of focusing on company fundamentals rather than market noise, and why “stop looking at your portfolio” might be the best advice.
âš¡ Leveraged ETFs: A Warning – why leveraged ETFs like 2X Tesla or 3X Nvidia are dangerous traps for long-term investors due to daily resets and volatility decay. “They’ll volatile themselves to buggery!” 🦡
🔗 Blockchain’s Real Value Proposition – looking beyond crypto headlines to the substantive developments in blockchain technology. Krzysztof shares insights from Chainlink’s presentation to lawmakers about bringing financial systems on-chain.
🦬 Safari Stock: Novo Nordisk – Luke analyzes the Danish pharmaceutical giant behind weight loss drugs Ozempic and Wegovy, discussing why it’s on his watchlist despite recent price declines due to increased competition and potential tariff impacts.
Sources:
Musk doesn’t realize he’s the fall guy: https://www.edwardsprice.com/
Why FDA/Biotech will be okay: https://adus.substack.com/p/weve-been-marked-layoffs-peter-marks
Chainlink co-founder meeting with congressmen: https://x.com/SergeyNazarov/status/1905820053993312257
John Stewart + Ezra Klein on Government inefficiency: https://x.com/EricAbbenante/status/1905422938352091313
Segments:
00:00 Cold Open & Market Overview
02:19 Welcome & Introduction to Volatility
09:00 Systems Thinking in Market Analysis
16:23 Portfolio Management During Turbulence
30:20 Luke’s Investment To-Do List
35:26 The Patreon/Blockchain Connection
49:37 Warning About Leveraged ETFs
56:38 Safari Stock: Novo Nordisk (Weight Loss Drugs)
1:02:46 Biotech Sector Discussion
1:07:31 Investment Lessons & Media Criticism
 E74 – VOLATILITY CHAOS
[00:00:00] Krzysztof: these times which are always inevitable and they’re cyclical, this is where most people get things wrong.
things always feel bad. It never feels good when things are tanking, and yet it’s so predictable and it’s so just what it is
[00:00:14] Luke: Like I sold a ton of stuff at the end of 2021 and my timing was like spot on.
The worst of the mag seven probably no surprise is Tesla for many reasons. Um, down 37% the Mag seven is in the bin.
[00:00:30] Krzysztof: professional economists who do this for a living and write books about this stuff are always wrong about this stuff too. Right?
[00:00:40] Luke: fricking stop looking at them and they won’t seem so volatile. Genuinely, it sounds stupid.
[00:00:46] Krzysztof: Complicated problems require. Solutions sometimes that are outside the box, right?
[00:00:51] Luke: you’re just asking for problems.
[00:00:53] Krzysztof: why do human beings need to go to all these extremes, right?
[00:00:56] Luke: This is Wall Street Wildlife. Before we get to this week’s show, a short [00:01:00] word from our sponsors.
[00:01:02] Krzysztof: All right. If you’re serious about investing, you need to know about public.com. That’s where you can invest in everything. Stocks, options, bonds, crypto. They even offer some of the highest yields in the industry, like the bond accounts, 6% or higher yield.
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[00:01:44] Krzysztof: Bottom line, your investments deserve a platform that takes them as seriously as you do. Fund your account in five minutes or less at public.com/wildlife and get up to $10,000 when you transfer your old portfolio.
[00:02:00] That’s public.com/wildlife
[00:02:03] Luke: paid for by public investing. Full disclosures in podcast description. For an advertising free version of the show, check out patreon.com/wall Street Wildlife.
​
[00:02:19] Luke: Hi, and welcome to the Wall Street Wildlife Podcast with Luke and Christophe. my word. The world has gone to crap. All my growth stocks are in the bin. What are we gonna do? In today’s episode, we’re gonna get into some do’s and don’ts and some things we are thinking about buying and some things you should definitely not touch.
[00:02:40] Krzysztof: Yes, Badger. You see, so you see anything different about me today? I don’t think I’ve ever,
[00:02:45] Luke: Yeah, find new hat. How a monkey.
[00:02:48] Krzysztof: uh, that’s right. I thought this morning what would be my most appropriate chimp, gorilla, bonobo monkey hat, uh, outta my collection. And I found this [00:03:00] beautiful, exquisite fuzzy howler, howler monkey hat. Hower monkeys are so cool. If you’ve ever seen them in Costa Rica, they’re, you know, they come right up to you and.
[00:03:10] Luke: We had to, uh, we had to like park the car up while two, uh, like making out on the road in Costa Rica, howling at each other and they woke us up like a ton of times. Yeah, they loud as f.
[00:03:21] Krzysztof: Yeah, so that’s what the market feels like now. And, public disclaimer announcement, I think the, these times which are always inevitable and they’re cyclical, this is where most people get things wrong. This is where most people throw their hands up in the air and say, F it, I’m out. it’s all a scam.
But this is why if you listen to us, because we’ve been this through this so many times before, we think we have pretty good perspectives on how to handle this.
[00:03:54] Luke: I’ve got a relevant quote for you from a classic investing movie that I realized I thought I’d seen and I [00:04:00] realized I hadn’t actually watched, margin Call. I watched it yesterday on the sofa in prep for the podcast because it does feel like we’re going back into. Like maybe recession, maybe depression, maybe like the world is falling apart.
Here’s a great Jeremy Irons like excerpt, though it is certainly no different today than it’s ever been. 1637 1797 1819 37, 57, 84, 1901 07 29, 1937 1974 1987 Jesus, didn’t that f me up? Good. 92, 97, 2000 and whatever we wanna call this. He’s referring to 2008. I guess since then we had 2020. There was a mini covid recession and now 2025. where we’re going? We might be going until you had another one.
[00:04:54] Krzysztof: Yeah. Hey Badger. Remind me, are we allowed to cuss on our own show?
[00:04:58] Luke: You know, actually I [00:05:00] was Googling that yesterday. So apparently do not use the F word in the first 17 seconds and someone.
[00:05:07] Krzysztof: so just hold off.
[00:05:10] Luke: Yeah, and a good guideline was for both YouTube and Spotify. Do not surprise your listeners. As long as you don’t surprise your listeners, it’s probably okay. You don’t get like crushed by the algorithm. So yes, you can swear, but not in the first 17 seconds.
[00:05:26] Krzysztof: Well, that’s fucking great news Badger. Uh, yes. I don’t know. It’s like some tension between, right? Things always feel bad. It never feels good when things are tanking, and yet it’s so predictable and it’s so just what it is that at some point, um, I mean, that’s such a good quote. You know, like, you, you, the professionals just know that it’s coming.
They expect it and they know how to write it out. So, um. Yeah, look forward to talking more details about this. [00:06:00] Uh.
[00:06:00] Luke: We we’re professionals. Like we’ve seen this before. We’ve, uh, we’ve ridden out like, arguably like, but I think I’ve said this before, right? By luck, probably more than by judgment. Like I sold a ton of stuff at the end of 2021 and my timing was like spot on. And I did that for other reasons ’cause I’d suddenly semi-retired and I went to build an income investment portfolio. went to cash and then that really served me well. And so I’ve tried to be. more deliberate this time around and I’ve, I’ve got to like 25% cash. I was there a couple of months ago and I feel like I’m in a comfortable place ready to redeploy that, but not yet because, well, why don’t we take a look at the Mag seven, ’cause I think that’s like an interesting lens into like where are we in the market? I’m just gonna pop up a fin chat.io. Pretty picture of the Mag seven. [00:07:00] ’cause you might remember Christophe, back in early January, our first episode of the year, and I talked about seven versus small caps and we tried to make some predictions about which way the market was gonna go. And I think we were both like anti mag seven. It felt like they were massively overvalued. if you look at. Just those last three months, like start of January when we recorded that episode to today, the best of the Mag seven is meta. It’s down 2%. The worst of the mag seven probably no surprise is Tesla for many reasons. Um, down 37% the Mag seven is in the bin. But if you zoom out and you look at this picture, like over multiple years, stuff is still overvalued. Like, okay, we’ve seen a correction, some stuff more than other stuff, but there’s a long way to go if things really gonna get ugly.
[00:07:58] Krzysztof: Uh, correct. [00:08:00] Let me pontificate a little bit live with you about my current thoughts on. All this global turmoil and econ stuff. I think I’ve been doing a good job trying to listen to all sides of the political aisles. And at one point, I do have to admit it is fundamentally confusing when I can’t trust some basic data.
I don’t know if you feel the same way, but like, seriously, like any podcast I listen to even, or a show, like, you know, I think of them as credible people and I’ve done my work selecting who I listen to and don’t, but at the core, you know, there’s these disputes about, is Doge for example, uh, are the claims they’re making true?
And some people say, yes, this is, it’s, it’s all true and we’re saving all this money. And other people are saying like, no, it’s a bunch of lies, and they’re not, you know, and I don’t know how somebody on the outside can truly verify. [00:09:00] What’s what, so that I’m just bracking that as a big problem.
[00:09:04] Luke: Yep.
[00:09:05] Krzysztof: That said, let me argue for and against myself where I just make a big old chaotic mess out of it.
I would say, on the side of Doge is necessary or government cutbacks necessary. We were r in a debt crisis. The u and by RI mean, I’m talking about the US right? But that’s, I think a given, a fundamental given. If something didn’t happen, the US was on its way to bankruptcy. Would you agree with that?
[00:09:38] Luke: Yeah, totally. And if you wanna go deeper into our thoughts on that, maybe four episodes ago we went pretty deep on that topic and talked about Doge and talked about. Like the corruption that might be hidden inside some of that stuff. But I think we both concluded, well, certainly I concluded it’s necessary to like a sweeping [00:10:00] attempt at trying to clear up, some efficiencies, clear up some of the reckless spending, and get the US economy under control.
[00:10:07] Krzysztof: Right. It was to me, to my eyes, it was a disaster just waiting to happen, and it was visible. And some of the world’s smartest financial, minds were saying the same exact thing. So I don’t see how, and this isn’t a, I’m not trying to make this political statement, but the Democratic party’s fundamental priorities, at least over the last couple years.
Are, it’s, they’re, they’re not there to reduce the budget. Exactly. They’re there to provide social, uh, safety nets, really important things. But you know, when you’re, when a ship is, when the Titanic is heading toward the iceberg, right? So that’s one side. The other side is, okay, so you have, uh, Elon and his chainsaw coming in, but is that reckless?
Is that completely, you [00:11:00] know, I mean, there’s the legality of it, and is he actually doing what he’s saying he’s doing? And maybe the, the fallout is much worse than, uh, you know, can you really just fire the US government and expect things to continue functioning, and, I mean, and all this stuff. Then, okay, so then let’s add tariffs to the, the equation.
And this is, this is the issue. I read a bunch of brilliant minds saying that tariffs are a horrible idea and they won’t work and they’ll just make things worse. And then I also read, uh, a bunch of other positions saying, no, this time it is different and there’s such a great imbalance in trade and whatnot, and there’s going to be all these manufacturing consequences that will be good for the United States.
So it’s a good thing. My point here is the phone that I don’t know what, I really don’t know what the truth is. [00:12:00] And professional economists who do this for a living and write books about this stuff are always wrong about this stuff too. Right? So who as investors, like how are we possibly, like if you are taking a side and you’re like planting a flag like that, this is the one true way bullshit.
You can’t know. It’s too complicated. Right. So my, this is a bit of a rant, but my only solution is to go back to what I try to go back to, which is systems thinking, which says the following. This is all my, I mean by that, when you think in terms of systems, you zoom out and you see that there are many, many variables at play that interact with one another, but it takes time for any one input to have an effect on another input that then causes a change, say in the output.
So if you think of a bathtub and faucets and knobs, right? [00:13:00] If you turn on one knob, the water starts to rise, but it’ll be a little while till it overflows, right? Make sense? So, I’m not arguing in this moment, in case, I mean in favor of Doge or against it, but I am saying if anytime you make a big change to the system.
It ta it’s gonna take time to actually see the results. So for all the people that are kind of yelling and screaming that, uh, because the markets are falling, that the tariffs were a bad idea and all of this was bad, and Doja is completely wrong, well, I don’t know, but I also know it’s gonna take time to fig to see, and what’s, in this case, like a minimum amount of time.
I don’t know, like is it gonna be six months, nine months, 12 months? But people, like you can’t press a button and then change the global economy like tomorrow, right? So I think a lot of this, all I’m ranting about here is like there’s so much panic and so many people are just [00:14:00] jumping to conclusions that are just way too preliminary.
You know what I’m saying? How does that land with you like.
[00:14:06] Luke: Yeah, no, I, I totally agree. I don’t feel like I have a better, better handle than that on what’s going on, and I agree that most folk don’t, and anyone who’s trying to set out a definitive position, it’s probably political more than grounded in science and like economic science and, you know, having like a fundamental reason for thinking why something is gonna happen. This is complex adaptive system that we are sitting in, but the way I try to navigate that is I. Like I recognize there’s this huge gray of unknown and sometimes like the stuff, you know, sometimes you feel like you know a lot. And in my less volatile times you can feel like you’ve got a good handle on things. And so I’ll be more confident making forecasts and [00:15:00] adjusting my portfolio accordingly. And sometimes, like now, perhaps now more than ever, so before there is so much unknown and so little that really is known. And so I try to insulate myself from that just by de-risking my portfolio a little bit. being like 75% invested, like enough risk on I don’t mind if things keep going up and like go to the moon. ’cause I’m like mostly invested, but I got enough cash on the sidelines. Like I’m de-risked enough with my 25% cash that if stuff does go bananas, like I can take advantage of that.
[00:15:40] Krzysztof: Yeah, that’s why.
[00:15:42] Luke: maybe, maybe to finish that thought, sorry. Like, that’s probably why my overriding goal right now is do not do anything, do not even look at my portfolio, which is kind of hard to do when you got an investing podcast. I remember saying this back in 2022 [00:16:00] with my buddy Albert. Um, like, it’s hard, it’s hard to go hands off and it’s hard not to look at your portfolio like your job essentially is to talk about investing every week. But trying to navigate that by, know I’ve got like a whole bunch of other fun projects I’m doing right now and I’m trying to let them consume me just so I don’t have time to worry about
[00:16:23] Krzysztof: You know,
[00:16:23] Luke: happening.
[00:16:24] Krzysztof: that should be our new shingle. That should be our new ad on Patreon. Like, uh, come invest with us. We don’t even look at our portfolios. We know like we know nothing.
[00:16:37] Luke: But I mean, we’re laughing about it, but it’s totally true and it’s totally like an incredibly helpful behavior.
[00:16:44] Krzysztof: Yeah.
[00:16:45] Luke: if things seem volatile, fricking stop looking at them and they won’t seem so volatile. Genuinely, it sounds stupid. It sounds ridiculous, like an ostrich bearing your head in the sand. Like it’s not about that. It’s not about ignoring [00:17:00] what’s going on. It’s about just focusing on the important things, which as a, as a kind of fundamentals based strategy investor, the important things for me are what are the companies I’m invested in? What are they actually doing? What are they reporting? Everything else is kind of noise about macro and economy and the fed and tariffs.
Like I’m aware of all that stuff. I’m trying to kind of Chinese wall it in my head as that’s like. entertainment and I can’t let that like nonsense and noise confuse me from the real signal, which is like, you know, what did what, how to what extent are Tesla delivery numbers actually down, which we’re gonna see in the next couple of days.
[00:17:47] Krzysztof: Right. Exactly. No, this is so, so important. A, a briefer way of saying that is ignore price. Price is for our purposes. And you could see this so clearly, uh, uh, [00:18:00] maybe this is overstating in a little bit, but it’s arbitrary on any one day the price that some asset is selling for. Some for reasons that have nothing to do with anything completely, certainly out of your control as an individual investor, the price might be up or might be down, and it just has nothing to do with anything.
So if you wanna stay invested and in the game while the market’s having a fit, do exactly as badge suggested. Find the companies you want to double down on or learn more about and spend your time on a hammock, you know, reading some, some good, uh, information or data, updating your thesis statements and all that, that’s useful.
That’s, that’s smart. And eventually the price. You know, then if you have money, then you’ll know what to buy or not to buy. I wanna go back, if, if we may badger to, uh, my sort of back and forth is about, you know, not knowing who to believe and [00:19:00] I. The sort of impossibility maybe of knowing what the correct thing is and the need for time.
Okay. So, uh, I think, right, if I may return the conversation back to this feeling of trying to look at things from multiple perspectives and not knowing which way is particularly correct, adding the important variable of time to the equation, which tells me I won’t know for some time, so I should just stop panicking and making decisive conclusions about any policy that I see.
I did come across this weekend, uh, what I thought was a fascinating clip, uh, from my boy John Stewart. He’s, he’s the one guy I really think I trust more than any other in terms of politics because one, he’s a creature of the left. So that just naturally aligns more with my own way of seeing the world.
But he’s the one guy on the left that, at least in [00:20:00] recent times, has had the capacity to openly critique a whole bunch of stuff that the left is doing as opposed to, you know, complete blinders and ideological, yeah, ideological blinders. So this was a conversation in which he was talking to another guy very much on the left, also Ezra Klein, he writes for the New York Times, and I was surprised that the conversation ended up being about Ezra Klein talking about a program under the Democrats, under the Biden administration, in which.
Many billions of dollars were allocated to, to, uh, enable broadband in rural areas. Okay. There was this program, right? And then Ezra Klein listed all the steps necessary for the program, you know, to basically try get the money like by district or by jurisdiction. And [00:21:00] apparently there were something like 56 applicants for, to get all this money.
And Ezra Klein is talk telling John Stewart this. And what you end up seeing in this video, we’ll link to it in the show notes, is basically, as Ezra Klein de de describes the steps, John Stewart is sitting there and his eyes are getting bigger and bigger and he starts like pulling his hair out because you can see that it’s madness.
The system, the governmental, uh, degree of, I guess inefficiency for short was just pure madness. So that. Out of the 56 applicants three, three out of 56 got to the point where they were finally able to like apply one more time for the money. And so, uh, all of that is to say like, these problems are, are real, you know, and they’re, and it’s a disaster.
And it seems like no matter which side you’re [00:22:00] looking at these things from, everything seems like a disaster.
[00:22:03] Luke: That’s, I mean, that’s, it’s natural outside of like the pub, the private sector, like even in the private sector, like I used to work for one of the world’s biggest banks like organizational bloat and bureaucracy, like left alone. It’s the nature of like middle management to kind of grow itself and grow its power and add more rules and parameters and regulations and guidelines and some, you know, some regs are really, really important most of it is just complete nonsense and gets in the way of actually doing business.
[00:22:37] Krzysztof: So that’s the interesting thing about, you know, Elon’s position. He’s now such a political figure for all kinds of things that I think are problematic. But I think what I’m seeing amongst enough people is that it’s like, it’s the, it’s the, it’s the, there were mul because there are multiple issues here and you have a polarizing [00:23:00] figure.
The ba throwing the baby out with the bathwater maybe might be the least worst analogy I could think of that it seems like if you disagree with, say, many of Elon’s, uh, political statements, especially about, let’s say immigration for short, right? Then you are priming yourself to also think that what he’s trying to do with governmental efficiencies is immediately like evil and terrible.
Right? But let’s step back for a second. He is one, one of the world’s best business people ever, right? I mean, he, for better or worse, his strategies have built incredible things. So might it be the case that some of these tactics he’s using are the right things, but they’re painful and the immediate consequences are bad.
And of course the optics are bad, and him going out with a chainsaw is just rhetorically in, you know, emo, [00:24:00] it’s just stupid, right? Like the way he antagonizes people. But maybe, maybe there’s something to it. And I guess my, my summary about all this is can we just like. Stop reacting. So, out of maybe, agitation or, or like, uh, um, can we give, can we, can we just allow these processes to sort of move through?
Maybe that’s all I’m saying. So is this a call for a little more patience, which is, wouldn’t surprise me if that’s all I’m trying to say. I.
[00:24:41] Luke: Uh, I, I agree. Um, but like, there’s too many, it’s too political. There’s too many politically influenced um, that, that’s just not, it’s not how things are gonna play out. I saw a really, in, I, I found a really interesting follow, a guy [00:25:00] called Ed Price, and actually I’d like to link to his YouTube channel. Um, he’s a, he’s a very smart Brit, who’s now an American, a journalist, and he did a really interesting interview on CNBC or one of the news channels that I caught. And I think now he’s trying to launch his, like independent, he’s like. You know, independent career on YouTube. Um, he was talking about Doge and some other stuff, and I won’t try and recap it, but essentially he’s positioned, his view is that Elon is the full guy. know, he’s, you’re right, everything he said, like, he is probably the best person or one of the best people in the world to try and run this. But at the same time, Trump has got him at armed length. And if this does go to shit, like, you know, no one should be surprised, least of all Elon. Elon, if he suddenly like takes the fall for all the bad stuff.
Yeah.
[00:25:55] Krzysztof: Right. Politically, it’s great positioning. We know for whatever you may think of [00:26:00] Trump, he’s like a political, he’s like a, he’s like the political guy that just can’t die. So he must be doing something right. Like right. He knows something about how human politics on in the real world work and Sure. Elon’s this fall guy, uh, how does this help individual investors?
Right. Maybe that’s the question we need to come back to. And I think all I’m saying, all maybe we’re saying together is it’s complicated. Complicated problems require. Solutions sometimes that are outside the box, right? ’cause more of the same. You’re just, you know, kind of an idiot for thinking, doing the same thing, uh, that created the problem is gonna fix it.
So don’t panic. Don’t predict, let it set. I mean, it’s going to, it’s, you know, when you have a big problem to begin with, it’s gonna be painful, like, getting out of it. So there are no magic solutions. So maybe our [00:27:00] energies, right are, are better spent, like, you know, like, you know, the virtues of stepping back, doing research, focusing on what we can control rather than uh, uh, you know, coming to these snap judgments that are just, I don’t know, um, probably.
[00:27:18] Luke: yeah, like Zoom, you’re right, totally right. Like zoom out. If we go back to my margin, call Jeremy Iron’s quote at the start, right? He just like reels through 20 major recessions over, well, most over the last hundred years, but some back to the 16 hundreds this has happened before. It’s gonna happen again. And well like let’s now looking back at 2008, like it looked like the world was falling apart. The entire financial system was coming down. There were some very serious problems. You know, big global institutions went down. Um, but in the rear view mirror with like 10 years of hindsight, we’ve gone through [00:28:00] like another whole cycle. It’s not that it’s irrelevant, like we learned some lessons and we’ve improved some regs and tightened stuff, stuff up, but the world is more robust and stronger. And all of the companies that were looking, well, if you weren’t Lehman’s, most of the companies who are looking like they’re in perhaps big trouble, then most of them survived unscathed. And most of the stuff we are interested in, like big tech, uh, has gone on to bigger and better things. Like if you can zoom out, take a breath, don’t invest money you need in the next five years, all those stuff, things that we talk about, that we talked about just last week, like our 10 investing lessons to make you a more successful investor, and we had like a little movie kind of anecdote for each one. if you follow those lessons, they’re most important at times. Like now when things seem really scary.
[00:28:52] Krzysztof: Amen. And hallelujah. [00:29:00] [00:30:00]
You speaking of, do you have a, a update on your investment to-do list?
[00:30:20] Luke: I do, I do, I do, I do. Let’s, uh, let’s share this on screen uh, and I shared this last week with our Patreons in our Badger and Monkey Trades channel. ’cause it got like a extra special bit of the Patreon where we talk about usually trades we’ve done, but sometimes trades were about to do. So I thought I’d share my to-do list because this is how I navigate. Like forcing myself to be diligent and not react to respond to market events. I literally, it’s so dumb. It’s simple. It’s so simple. It seems dumb, but it works for me. [00:31:00] I literally, if I wanna do anything, I put it on my to-do list and then I take a breath. Let’s have a look at some of the stuff on the to-do list, right? There’s stuff that’s been on here for literally six months plus, but I’ve added some things. So maybe pick out one of one or two of the changes in the last couple of months. I really want to rebuild my Amazon position. I do think that is becoming very good value right now. Perhaps based on some metrics like the cheapest it’s ever been in in recent last couple of years.
but it doesn’t feel like time to pull the trigger on that just yet. And reason for that is. Like, we don’t know what tariffs are gonna do. I don’t wanna forecast, like in the uk the, in the April, it’s like the new tax year. Next week, national insurance and minimum wage are going [00:32:00] up. So it’s gonna make it actually more expensive for, particularly for small and medium enterprises. But, you know, any company that has like a, a lot of human workers Amazon falls into that bucket, they have like, essentially a lot of, like a lot of tens of thousands, hundreds of thousands of folk in the UK working for Amazon who are paid like a fairly low wage. So they’re gonna get impacted by those changes. I dunno what’s gonna happen in the us like Trump has talked about eliminating income tax for anyone getting paid under $150,000. Someone’s gotta pay that bill. If it’s tariffs, it’s gonna be organizations that pay that bill. Amazon is like a major importer. They’re gonna get hit by tariffs. I dunno what it’s gonna do to them. So this is one that’s on my to-do list. I’m just gonna take a breath. I’m not in a hurry to add, I’ve got some Amazon in my portfolio, but I do want to add to it. Any, anything else on my list that kind of catches your eye and you think we [00:33:00] could dig into usefully?
[00:33:01] Krzysztof: Ooh, I see one that catches my eye for sure. Diversify Bitcoin into link. Oh, I’m so biased. Goodness.
[00:33:13] Luke: Yeah, you know, I’ve got this monkey on my shoulder telling me I should be doing.
[00:33:18] Krzysztof: Uh.
[00:33:20] Luke: I got maybe like 1% of my portfolio in crypto, like fairly small grand scheme of things. Um, most of it’s Bitcoin, so yeah. You know, this monkey tells me I should own some more chain links, so I’m gonna do that after the. 6th of April because then I can sell some of my Bitcoin I can use my gains allowance. Um, yeah, like new tax here. So, but yeah, I plan to do that.
[00:33:49] Krzysztof: Okay. The only other one, uh, that catches my eye is, uh, by and.
[00:33:54] Luke: Yeah, it’s been in my list for a long time. a defense tech startup, Palmer [00:34:00] Lucky, the guy who essentially like reinvented vr, built the Oculus, sold it to to Facebook, meta, got fired by Zuckerberg, built a defense tech startup called, trying to overturn the, um, like the prime con uh, the prime contractors model in the US and bring like startup thinking and more innovation to defense. So I definitely think great founder, great company, the right time to be in that stuff. I just can’t find, I. Like a decent deal to buy it privately. I do. Like I’ve, I found with, with good terms, like often there’s like when you buy a startup, or sorry, when you buy like a private investment, there’s often like a fee, which could be say five to 10%, so I’m just gonna suck up the fee when you buy. There’s also tons like carry, so like if you make money, some percentage of the profit of the gains accrue to the, like [00:35:00] the guy who sold you the stock, like essentially like the manager of the special purpose vehicle. Um, can get good terms you are willing to spend about half a million dollars, but that’s not the kind of money I wanna throw into a company like Android.
So with my little like five figure investment, I’m just trying to find decent terms and I can’t find them right now. So it stays on the watch list. I’m probably gonna end up having to buy this one when it IPOs, if it IPOs.
[00:35:26] Krzysztof: Okay. Right on. So maybe this is a good opportunity to, uh, switch over to, to the, uh, why the link BTC to-do list is interesting to me. Um, do you have anything else to, to finish to, to add to the to-do list before.
[00:35:45] Luke: I thought I might pick up on one of them. I think we’re gonna do safari stocks today. So one of the things on my list is a Safari stock, so I’ll come back to, I’ll come back to that one in a bit.
[00:35:55] Krzysztof: Okay, so let’s switch tax and let’s talk [00:36:00] about, uh, blockchains again, real briefly, because we have, uh, we had a pretty ironic, timely incident happen. So we released, recorded a special episode about what blockchain technology slash quote unquote crypto actually is, and that went live to our Patreons on patreon.com/wall Street Wildlife.
And one of the, one of the principles of why building a network on blockchain is so important is because we know that corporate networks like Google, like YouTube, like any of the big. Uh, uh, corporations that have a platform, we know that u the user has no control whatsoever. Zero in all the ways. And then what happened to us Badger?
Uh, that was it. That same day after we recorded.
[00:36:56] Luke: Literally that same day, we hadn’t even posted the video to [00:37:00] Patreon. Patreon as a platform shut us down due to a trust and safety issue. And literally we got like a two paragraph email saying, you have been suspended. You ca your platform will be deleted. And the next few days we’re both like, what the f what’s going on? no explanation as to why. we figured out afterwards why, and it was just like a mechanics thing. ’cause we got some money on Patreon. You were trying to withdraw like, you know, a a a regular withdrawal ’cause we gotta pay our editors. And something went wrong with the, with the transfer. With the withdrawal. And I guess like their financial crime, regs kicked in. They thought maybe the money was going to a bad place and they literally like deleted our Patreon no heads up.
[00:37:50] Krzysztof: Right. So, you know, that incident really felt bad. I mean, it’s one, it’s just, it, like, it’s not great obviously just because, [00:38:00] for obvious reasons. But I had that feeling in my, in monkey’s tummy that was like, oh shit. Like seriously, like we have zero power. Something out there turned off a switch. And then what we were left dealing with is, you know, like writing emails to the, you know, like.
Automated response teams. And then somebody asked me for the same info twice, and I’m like, is this even going anywhere? And we were like, in this dark labyrinth of, our hands are tied, and this is just bad, right? This is, this is why blockchain is an incredible technology that’s being built. So what I wanna talk about as a follow up, oh, and by the way, uh, to all you YouTube listeners, our Paton community is really kickass.
And that episode on, uh, the blockchain stuff comes with a PDF map, that mind map that I made. Uh, and so if you wanna check it out, it’s not available anywhere else, but on [00:39:00] patreon.com/wall Street Wildlife, so
[00:39:02] Luke: Which is back, which is back, by the
[00:39:04] Krzysztof: Oh, yeah. Right. And we’re back. We’re back. Sorry. Sorry. To all the regulars for, you know, whatever, uh, cluster fuck things we’re going on behind the scenes.
So I wanna update you just a little bit because, uh, chain Link’s co-founder went to dc they’re having a big conference and he’s now hobnobbing with senators and House of Rep people and basically people in the governing body. And this is my takeaway of, uh, he gave a 16 minute opening talk. So real brief summary.
I’m gonna post, we’re gonna post a link to his talk, which actually has a transcript and lots of pretty slides. So if you want the whole thing, I encourage you to listen to it, read it. But basically what, uh, Sergey was saying is that for all the reasons we talked about, the world’s global financial system will be better if it runs on blockchains.[00:40:00]
That’s basically the fundamental thesis. But it needs regulation, obviously, and it needs a bunch of technical things to happen. I mean, we’re talking about the world’s assets, right? So this is in the game, and this is gonna take several years to play out. But one takeaway for me is that now that these conversations are being had in public, in, in the regulatory body, like things are going, like we’re moving, right?
It’s no longer just theoretical developers talking about what ifs. So, uh, my takeaway is that it’s just gonna be better for the world and Sergei wants the US to lead the inno the financial innovation because it is a technology. Just like, you know, AI is a technology. This is a technology, and the US should be in the lead.
That’s what he was pitching them. But in order for this to actually happen in, [00:41:00] in order for the world to move on to blockchains, he basically talked about three separate points. One, you have to have a system by which you can verify that the assets. Basically are what you say they are. You can’t just, you know, somebody, some hacker can’t all of a sudden duplicate the fact that he has two houses and all of a sudden then the extra house appears on the chain.
Right? So you need verification. Two, he pointed out that just like on the internet, there are multiple databases, right? We have one internet, but, but Google has its set of info and Amazon has its set of info and Tesla has its set of info, right? Just like that. A world that runs on blockchain will have thousands of blockchains, thousands of, I don’t know how many, many, many, many blockchains, but they all need to be [00:42:00] able to talk to one another.
It’s not the case that we’re just gonna have one blockchain. That is chain Link’s main, one of its main products. It’s called CCIP. It’s the protocol that will allows all the blockchains to seamlessly work as one. And the last point that he talked about is, and I think this is, this will be of interest to you, so to speak as a banker or anybody that’s, you know, interested in finance, is that he wants or says there needs to be where the evolution in finance is to have something he calls the unified golden record, which means that, well, the tagline is it’s a single source of truth for capital markets.
So it’s, it’s about combining not just who owns what asset, but it combines all the data about that asset with who owns it in one, call it golden record. [00:43:00] So that this, basically, when you have both of these kinds of informations living in one call it token, this prevents things like scams and financial collapses.
Because remember like just one example, Silicon Valley Bank, right? Crashed. Why? Because the ledgers of that bank we’re not transparent and visible. So anybody doing business with them, we’re basically interacting with a black box. But because they did not have the appropriate data, and you know, why do global crises come up in cyclical terms, right?
Regular terms, because there’s missing data.
[00:43:37] Luke: Yeah, like SVB went down essentially because they hadn’t like marked to market the assets on their books. So they were like, they had like fantasy valuations of the things they had. um, like the numbers didn’t add up and it turned out they were like insolvent if they actually looked at the true value of, uh, like the loans and that their [00:44:00] assets.
So that
[00:44:01] Krzysztof: Yeah.
[00:44:01] Luke: that got pretty ugly quick. Yeah.
[00:44:03] Krzysztof: Yeah. So this is, I just wanna remind listeners that from my perspective, why I’m so in love with this particular new evolving technology is because it’s actually the opposite of what makes the headlines. The headlines are all this bullshit cryptos gambling scheme things. Meanwhile, these legit call it technologists and developers are working to solve a legit problem that has haunted humanity in its entire history, which is financial scams and.
Uh, yeah, basically, um, lack of data, lack of transparency. And if we fix this, if the global system moves on chain, then I think I, I don’t know. I had this thought badger, I don’t know, maybe this is too like pie in the sky, but it’s like people, let’s say 50 years from now might look back at humans, the human financial system when it wasn’t on [00:45:00] blockchain and look at it like, oh my God, you guys were doing what?
You guys were like, making promises that Oh yeah, we have this amount of money, uh, in our balance sheet. Trust us. Trust us. Right? And it’ll seem, I think like the dark ages, uh, potentially, right? If all this works, if the technology works, if the regulatory rules are put in place and all that. So the last bit is, um, I think the final sales pitch of this stuff is that tokenized equities badger are simply better.
And quote, I’m gonna read you just a brief quote. You could buy a tokenized equity or you could buy a traditional financial equity, and the tokenized equity would have one better liquidity, more global access to capital, critical information available without costly data trip subscriptions and could be acquired, held, and [00:46:00] resold by you at a low compliance cost.
So equities versus tokenized equities. The, the case here being made is that there’s just the tokenized version of it enabled by the technology is just so much better. And so end of my, uh, my spiel, but hearing that talk, I’m like, yeah, in two years, if this all goes well and it, it’s appearing like it’s heading in that direction, I.
This could be a massive, massive, uh, upgrade to how we do business in the world.
[00:46:31] Luke: Like, maybe, maybe, but there’s still so much nonsense to get through between now and then and it’s honestly, it’s not clear to me that that is the best destination, me personally, but like, even like just what this week GameStop, remember we, we did a episode on Dumb Money, that movie about. Um, roaring Kitty and like the GameStop craziness, [00:47:00] like GameStop have just apparently reinvented themselves as a crypto company now. Like they’ve just announced in the last few days, they’re gonna raise $1.3 billion by issuing convertible stock. And, uh, and they’re treasury function. They’ve just added, like, we’re gonna start like collecting Bitcoin as part of our treasury function. They’re gonna become like, they’re trying to position themselves maybe as like micro strategy part two. The Hawk Tour girl has just been like, let off the hook by the sec. I think ’cause of her coin talked, whatever that thing was there’s, there’s, so everything you see in the news is just like meme nonsense. Garbage and like the real stuff gets buried. And I, you know, it’s on my to-do list. I kind of buy, go back to our with, uh, Daniel, um, our chain Link expert like a few months ago. Like I, I, I [00:48:00] bought that. I, I get that idea. I’m now gonna start adding chain link into my own investment portfolio. I buy it that like Ethereum and Bitcoin and Solana are legit and maybe a few other things, but it’s drowned out. It’s drowned out on social media by the, the idiocy and the clowny. So the world’s somehow gotta get through this phase to the real stuff.
[00:48:25] Krzysztof: Well, that’s why I wanted to bring this up in this episode. It’s what’s real is you have this guy from Chainlink one. He was talking to the president of the United States directly a couple weeks ago.
[00:48:37] Luke: But like the president
[00:48:38] Krzysztof: Right? That’s yes. No, no, no, that’s true. But like in terms of power, right? I mean,
[00:48:45] Luke: yeah, of course.
[00:48:45] Krzysztof: uh, or the ability to make things happen.
And when you are presenting your slides to senators and members of the house and the governing body of the world’s most powerful country, [00:49:00] it’s, that’s the stuff that investors need to be paying attention to. Leave all the mean coin stuff alone. Forget what GameStop is doing. The fact that it wants, I mean, just like you could easily walk by a casino and not go in and play all the slots, you could easily walk by all the, all the crypto garbage and focus on where real value is being built.
And that’s all that monkey’s screeching about. That’s the only thing. And um, I’m highly encouraged by the, the developments and I can’t wait to see how this plays out, honestly. Like it’s kind of mind blowing when I think about it potentially.
[00:49:37] Luke: Great stuff. Alright. So yeah, watch this space, but like. Do not buy the garbage meme, coin crypto stuff, like you’re just asking for problems. I’ve got another, I’ve got another topic for today, which is not really related, but it’s another do not buy. Um, can I tell you about leveraged [00:50:00] ETFs?
[00:50:00] Krzysztof: Yes, please. Sounds like something monkey uh, after a couple of, uh, rum based and negronis might be like, Hmm, talk me outta the badger.
[00:50:12] Luke: So, uh, so I saw on the seven investing discord few days ago, one of, uh, one of seven investing’s, excellent stock advisory service. One of seven investing’s, uh, original members is talking about wanting to buy the two x Tesla ETF, the two x Palantir ETF, the two x Nvidia ETF. And I’m like. not do this, do not buy these products. So let me, I thought might be useful just to talk a little bit about why and why they might only be suitable for like intraday monkeys, not for anybody who’s holding a position, well, even long term, but overnight, right? If you hold, if you’re holding a position overnight, are not the products for you. [00:51:00] So what are they? Um, Tesla flips up and down. It’s like a super volatile stock. We said at the top of the episode, Tesla’s down like 30 something percent year to date because there’s so much like chaos in the markets. Um, if you owned two x Tesla, let’s say. We, let’s say we bought that tomorrow morning, start of business, and we bought two X Tesla, uh, and it’s an ETF.
You just buy and sell it like any other ETF. Um, so if you bought the underlying IE the Tesla stock, and let’s say it was a very volatile day and the stock went up 10% or down 10%, you own the two x Tesla ETF, then instead of going up 10%, you’d go up 20%. Instead of going down 10%, you’d go down 20%. So that’s like, that, that’s, that’s like the, the, the purpose of these things to amplify what’s happened. And there are even three x and I think there might even be like five X [00:52:00] ETFs on certain really niche things. They’re all bad They’re bad for two reasons. One is obvious and one is not so obvious. Um, kind of obvious one is. If you just take a volatile company, like let’s sit with Tesla as, for example, like if you own the underlying and it goes up by 10%, let’s say a hundred dollars in Tesla stock, and it goes up by 10%, then you’ve got $110, and if it then goes down by 10%, you lose 10% of the $110 IE, you lose $11 because you figure out, you finish up, you went up by 10%, down by 10%, you finish up, you’ve lost $1.
Does that make sense? You’ve gone from a hundred to 110 to 99 if you owned the two X Tesla it, this is all, you know, we we’re just taking this sort of simple case here. Then you go from a hundred dollars to $120. Then you go down [00:53:00] by 20% of 120, which is 24, so you’re down to $96. So you, it’s not like you’ve lost, like in the base case you lost a dollar. If you own the two XETF, you’ve lost $4. That’s just over like one day. And if you sequence together like day after day after day of a volatile company, well you’re gonna get run to zero very quickly just because the downside is magnified and the downside is more impactful than like the equivalent upside. But these leverage ETFs are bad for a more complicated, subtle reason as well. it’s because they have to do something called like an overnight reset. And so every night they reset themselves and it’s because. This is really complicated, and I don’t wanna try and get into the real arcane detail of it, but essentially, like if you’ve, say you’ve gone [00:54:00] up 10%, so the, the underlying went to $110 and the two XETF to $120, well, you have to have like the, the new, like, you have to start day two with the same amount of leverage.
So that means the fund, the ETF, has to go out and more exposure because it only had exposure to like $110 worth of stock. But in theory, it has to kind of sell to, its the owners of the ETF, like the investors. has to sell at that point, $240 worth of exposure. Does that make sense?
[00:54:42] Krzysztof: Uh, mostly, yeah.
[00:54:44] Luke: Yeah. So essentially these things magnify overnight.
They magnify the gains and the losses even more because they do this reset each day to get the same kind of market exposure as if they’d like doubled or halved from yesterday, or not doubled or halved, [00:55:00] but if they’d gone up by whatever percentage yesterday or down by whatever percentage. And so this daily reset serves to magnify your gains or your losses even more. so in a volatile market. These things go to zero, they go to zero even faster than you would think because they’re doing this daily reset. So these are complicated financial products that could have a place, not in my portfolio, but maybe if you’re doing like weird intraday stuff. but if you’re gonna hold a position overnight, like these, these are not designed for that. So do not buy these thinking, oh, Tesla’s gonna go up. And in the long run, you know, if I hold it for three months, I can make a gain, it’s gonna go up. But if, if I hold the two XETF, it’s gonna go up even more. It ain’t, it’s gonna volatile itself to buggery and your portfolio is gonna get Eden alive.
[00:55:53] Krzysztof: Right. Or rather, right. That’s actually quite quotable. It’ll volatile itself to buggery. We have [00:56:00] so many fun slogans for y’all. To me, it sounds like, uh, more case of gain clarity, whether you’re interested in going gambling in the casino or at which the, the outcome, the likely outcome is zero, or whether you wanna invest.
And if you wanna go gamble. There is a place to have a little bit of fun. Uh, then make sure you just, you know, you’re labeling a gambling, you’re heading into the casino. You have zero expectations for coming out with more money than when you came in with, and be satisfied with whatever outcome that is.
But don’t deceive yourself that you’re investing.
[00:56:36] Luke: Yeah. Yeah. Very good point.
[00:56:38] Krzysztof: Um, maybe if for no other reason. Yeah, well, no, no, no. That’s too, right. That’s plenty. That’s, yeah. Stay away as an.
[00:56:46] Luke: you reminded me of something like, totally random sidebar, but you mentioned gambling. So last week I came back from ski season a week early to attend my Good Buddy Jimbo’s 50th birthday poker game. And [00:57:00] it was incredible, like a great event, well organized. There were almost more bar staff and waiting staff and chefs and there were players. It was, uh, he, he provided a great event. Anyway, uh, he’s just started listening to the podcast, so I do wanna give a shout out to Jimbo, like, happy birthday buddy and thanks for the invite. But he did remind me, so I got a confession I think about a month ago, two months ago. I said I was using, uh, Gemini, like an LLLM ai.
I was using AI to enter Fa cup football, fantasy football thing. And Jimbo was the organizer of that. And I declared victory. Like Gemini has won me 800 pounds. his all went to shit at the weekend and had two teams remaining. I was in like a material lead, but the guy in third place, one of my friends, his, both of his teams beat both of my teams. And now it’s all over pretty much. So, uh, yeah, I declared victory too [00:58:00] soon
[00:58:00] Krzysztof: Soon bad.
[00:58:01] Luke: yeah,
[00:58:02] Krzysztof: Counted the, counted the chickens before they hatched, as they say in the farm business.
[00:58:07] Luke: exactly. Exactly.
[00:58:08] Krzysztof: Stick. Stick to portfolio management, huh? Uh.
[00:58:12] Luke: So anyway, good luck to, I don’t watch football, but good luck to nodding and forest. ’cause if they go on to win it, my other buddy will be happy. Anyway. He’s, he looks like he’s gonna take the glory.
[00:58:22] Krzysztof: All right. Badge. Take us home with, uh, a stock safari. Uh, stock. A safari stock.
[00:58:29] Luke: Let’s do that. We haven’t done safari stocks for a little while, so let’s do that. And my one for this week is like, that’s on my investment to-do list. It’s been on it for quite a while. So, uh, Nordisk, you heard of them?
[00:58:44] Krzysztof: Uh, sure
[00:58:45] Luke: Yeah. Yeah.
[00:58:46] Krzysztof: We have a big, huge company.
[00:58:48] Luke: yeah, huge. Like, uh, I think they’re Danish like sort of pharmaceutical company. I think they’re most famous for their diabetes care medications [00:59:00] and they’re like a leader in that market. And I guess they, they became not like a meme stock, but they really had some significant gains, uh, over the last year or so because of Ozempic. So they, um, I think they have the patent, I might not be completely on the number, on the number here, but like Wegovy I think is one of their, um, and they’re the largest provider of, um. In the world of some of those, um, like weight loss, revolutionary weight loss drugs. So that’s really driven them to new heights. Well, they are in the bin now. They, they’re on my watch list because a decent dividend investment and I am still looking to increase my dividend portfolio. but they’ve been smashed recently for a number of reasons. Probably the biggest of which is, um, there’s a lot of competitors now for these weight loss [01:00:00] drugs. Um, other therapies from other manufacturers. They’re still the biggest, but there’s others. Um, but also Trump tariffs. And Trump said a few days ago, about a week ago, that he was turning anxiety to pharmaceuticals and there were gonna be some pharma tariffs and that has not helped the company at all. they do most of their sales in North America. um. Yeah, so they’re facing an uphill battle there. So again, it’s on my watch list, it’s a safari stock for me. I’m not buying it just yet. It is really on my to-do list. Um, but I wanna see how this tariff thing plays out and when the noise turns down on that, at least investors get some clarity on what the cost of business might look like for Novo Nordisk, then I think they’re well positioned to be a good investment and a, and a solid part of my new to be built income portfolio.
[01:00:58] Krzysztof: [01:01:00] Excellent. Uh, I was going to talk about a specific stock in the biotech sector, but I’m gonna wait for next week’s episode. But I will say in general that the biotech sector as a whole right now is complete stinking garbage. I mean, if you look at any chart, most charts, I don’t know what the actual percentage is, but from, if you, if you take your starting point at basically 20 20, 20 21, the line is straight down and at a sleep, very sleep slope.
Um, the, uh, especially for up and coming companies, I mean, basically there are very few people right now willing to invest in pre-revenue companies. The venture capitalists, uh, world is dried up. I mean, there’s bunch of good companies [01:02:00] probably getting acquired for pennies. I mean, it’s been a, it’s called like, you know, um, what’s it called in crypto and in biotech, you know, a winter, so to speak.
And this winter has lasted, you know, a winter years. Now that all sounds bad and skull, but that. That is precisely when everybody else is run, but then everybody else like sees nothing but running away and that’s when some savvy investors start, um, serious I’ll talk more about the stock that continues to interest me next week. But for, for, you know, I think you’re right. Put it this way. I think you are right to looking at especially a well established biotech company, uh, in moments like this.
[01:02:46] Luke: When you do your research, like look into what’s happening at the FDA, um, there’s a. I interviewed for my previous podcast years ago, a really good, a finance analyst who sits [01:03:00] in the biotech pharma space called ADU Subramanian. And, uh, his, um, newsletter Substack, just yesterday talked about this topic. Evidently, the FDA is under quite serious attack right now from Doge. Um, and they’ve, they’ve, they’ve had to fire all probationary employees and they’ve got plans to cut another 20,000 employees. Um, and then also, uh, like part of their leadership team has just stood down, essentially been like asked to leave. Um, and it looks like a complicated space. And if you lose the FDA or if the controls change meaningfully, like that might make it much harder for like, some of these like. Companies with that are dependent on drugs in their pipeline to be successful, to like get ’em through any kind of regulatory authority and bring things to market.
[01:03:54] Krzysztof: Well, I, I don’t, I, you know, I haven’t read this. I’m just taking what you’re saying sort of on face [01:04:00] value. The flip side of that seems to be, and I don’t know if this is good or bad for humanity, I mean, it’s probably a bit of both, but if the end game of something like deregulating, the FDA, if that’s the actual what the Trump administration wants, then probably what would happen is in some cases, some drugs that are good.
Would get to, would get out into the world much, much quicker. And so that would probably save lives and be good on the whole. But obviously the counter to that is with fewer regulations, there would be some bad stuff that gets out there and that would cause havoc. I mean, but the, but the basic principle is reg regularly, you know, like it’s not a one size fits all bucket.
So, um, you know, I go back to the thing I was telling you about John, the, the John Stewart interview. It is, [01:05:00] man, why do human beings need to go to all these extremes, right? We either regulate everything to death and bludgeon ourselves with like red tape or we, we set up these casinos where whatever, you know, like whatever you want goes and people are scamming each other to death.
How hard is it to, you know, like, to, to say, yes, most regulation is good, but let’s not overdo it, fellas. And so, I don’t know. It remains to be seen. I guess. What happens with the FDA getting slimmed down?
[01:05:33] Luke: certainly though
[01:05:35] Krzysztof: I,
[01:05:35] Luke: the long term might be better, but the immediate term is just turmoil a mess. And this is an area like many government areas that like, I guess leadership suddenly feel like. Oh, like, holy crap. Like who knows what the future of our organization is and what our kind of extent of our power should be.
How’s it gonna change? It’s just gonna slow down decision making in the short term. So [01:06:00] I’m kind of with you. I’m not a biotech investor. I’m gonna stay away from that stuff. I think I’ve still got my goddamn call options based on your due diligence, and I’ve, I’ve lost my money on those.
[01:06:12] Krzysztof: wait, wait, wait. Oh. Quick note. Quick note. Uh. There’s a pretty non-zero, uh, they’re setting themselves up to be acquired. Basically. Just put that on your radar. So don’t, I wouldn’t at this point, I would not set, uh, I would not sell the options because, uh, a big jump is in the cards. Yes.
[01:06:33] Luke: for clarity. It’s like in my entertainment portfolio, it’s like, it’s, it’s barely five figures and it’s just like the fun money of nonsense. But anyway, that particular thing, the monkey uh, the monkey has misled me so far. Let’s see, I think we’ve got until January, 2026 for something to happen.
[01:06:49] Krzysztof: Well, well, if we’re gonna, if we’re gonna, uh, if we’re gonna what, um, parse peanuts. Let me say that one point. Those options were up a lot.
[01:06:59] Luke: Oh yeah. [01:07:00] I asked you, you said don’t sell.
[01:07:01] Krzysztof: So somebody just didn’t sell when they could have made bunch of bananas. So don’t look at monkey with those, with those evil badger claws of yours. All right.
[01:07:12] Luke: This is, this is what we said last week as one of our 10 lessons. Like do your own due diligence. In this particular case, this was entertainment money. I was backing Christophe and now I blame him.
[01:07:23] Krzysztof: And now,
[01:07:24] Luke: exactly why you have to do your own due diligence. You can’t blame other people. You only blame yourself for, uh, following the wrong monkey.
[01:07:31] Krzysztof: all right. You see what happens, friends. You try to help a badger out, and then all you get is, is blame and, and, uh,
[01:07:38] Luke: Well, yeah. You see? Okay. Alright, because I, okay, I’ll, I’ll set you up with this because I was quite, I was very pro Axon, axon enterprise, like the inventor of the taser and you know, I’ve talked about them adding infinitum on the pod. Go listen to like a previous episode. Um, and I think, and you said they’re on your watch list, but you hadn’t [01:08:00] pulled the trigger yet?
[01:08:00] Krzysztof: right.
[01:08:01] Luke: well they got like a slaughtering from another John in the news this week. John Oliver, who I hadn’t realized actually, I. Like you mentioned John Stewart. I hadn’t realized John Oliver was a Brit,
[01:08:14] Krzysztof: Oh yeah. Oh yeah. He’s one of you. I love him. He’s, he’s maybe my second favorite. Brit after you? Well, no, I have another good friend. Uh,
[01:08:23] Luke: He’s awful. God, he’s un unlikeable. Not just ’cause he was saying bad shit about my favorite company.
[01:08:28] Krzysztof: that’s why you don’t like him. He’s actually pretty great. But what he, what he say about, uh, about Axon?
[01:08:36] Luke: I, it was, I mean, all just bullshit. you’d think it must be a slow Newsweek or something. They had like a, they had like a 30 minute segment I caught on YouTube today. ’cause my buddy Albert said, oh, you should watch this. You have an Axon head. It was all like regurgitated garbage from nothing.
Nothing was in the last six or seven years. It was all really old
[01:08:58] Krzysztof: Hmm.
[01:08:59] Luke: [01:09:00] Um, uh, so Uh, I, I don’t quite buy into the spirit of like, I. Like all the news is good advertising or whatever that saying is like they had some pretty damning things to say about Axon, but historical and it was like alarmist and it was just trying to like play for laughs.
It wasn’t
[01:09:19] Krzysztof: Right. I mean, it is a c com right? It is a comedy show though though, right? That’s why John Stewart is my main guy. Right. ’cause his comedy is actually, I think, uh, mostly on point in talking about legit issues. But, uh, last principle, I guess to leave you with, right? It makes sense to me that as a normal, uh, investor, meaning normal average, I guess is what I mean by that, that gets most of their info from the news,
[01:09:46] Luke: Hm.
[01:09:46] Krzysztof: and you don’t do your own due diligence as per our 10 jungle laws.
Then you would have, according to you, who has done the. Their research, you would come to the exactly wrong conclusion [01:10:00] based on some puff piece in the mainstream media. So that’s such a key principle. Um, uh, maybe you could, uh, at some point return us to some of the points that they made, uh, specifically on why they’re so wrong and outdated and whatnot, because Axon is a, you know, really interesting, good company that I for sure wanna have own at some point.
[01:10:24] Luke: Cool. Okay. Now it’s probably not the time to buy it. It’s, I think it’s still relatively overvalued, although it took a bit of a ding in the last month or two.
[01:10:32] Krzysztof: Yeah.
[01:10:33] Luke: Um, but yeah, we’ll come back to that good one.
[01:10:35] Krzysztof: All right. So let’s, uh, end our show with a reminder that our Patreon community at patreon.com/wall Street Wildlife is back in business. And we’re having conversations in the community chat, and we have a trade channel. Uh, where we post our new buys and on April 1st we’re re-upping our King of the Jungle portfolio with another 200 bucks.
So, [01:11:00] uh, let’s see how monkey, let’s see whether monkey, how long monkey could re refrain himself from spending it all at once. Uh, versus Badgers obvious tried and true tactic of just doing nothing. Uh, but when he does, it’s meaningful. So, yeah. Uh, we hope you join us there on, on Patreon.
[01:11:21] Luke: And I did buy a couple of things in the last week. Like, uh, we talked about it on Patreon, so I won’t talk about it here, but yep. Go, go check out on Patreon. If you wanna see what I added to my King of the Jungle portfolio, I do wanna give a, a shout out to fin chat.io. We only talked about it once in today’s episode and I showed that magnificent seven graph. It is an incredible tool. I use it, a stare at it for like an hour a day pretty much every day, including weekends. Like it’s my main research tool. Now, if you wanna get some benefits and also help us out, if you go to fin chat.io/wildlife, you’ll get 15% off any [01:12:00] paid plan, um, straight away. So fin chat.io/wildlife to get that benefit.
[01:12:04] Krzysztof: Awesome. Are you ready to become a beast of an investor?
[01:12:10] Luke: Your journey. My friend starts here.
