All right, shall we talk about stocks overall?

Let's do stocks overall. Uh, what's Steve Sosnick call it?

Said Mania, 1999 kind of. I should have written the exact quote down but it was like

Yeah. Yes.

He said, he did see Mania. It feels close to a mania. And that echoes what we heard from Michael Burry in his latest sub stack where he basically said like the party's going to stop at some point that this doesn't feel sustainable. You know, and Steve, like Burry said, you know, we don't know the thing that's going to end this or pause it or, you know, whatever it is.

Yes.

Speaking of

is bring the momentum to a stop. But, you know, when you look at stuff like semiconductors doing what they've been doing as of late. You said when you have like multi hundreds of billion dollar companies that are going that are doubling.

Yes.

Intel's up what? 200%?

Yeah. Yeah. It's crazy.

It is absolutely crazy.

Yeah.

Um is it crazy, you know, is it crazy enough that it's going to stop? I don't know.

You look at some of these charts that are just, you know, like just vertical lines. Again, on some big companies. And maybe three years from now, if this is some sort of a change moment in markets, let's say, we'll look back and say like, oh, it was this. It was of course, it was Iran the whole time. What were we talking about? Um, oh that meeting when Trump went to China, that went weird, you know? Or it's going to be, you know, Hyperscalar comes out and cuts their capX. But it's really not going to take more, I mean what did Steve talk about this morning? We saw um, some semiconductor names, some some chip exposed names were down because of rumored taxes in Korea. I mean I'm looking pre-market. Intel's down 4%, Qualcomm's down 4%, F5, uh, or Seagate's down 3%, Lamb Research down 3%. So Micron down 3%. These are some of the pre-market movers today. But that point is like in these moments, all you need is like the smallest little domino. It's like the meme, right? You just kick it over and there you go.

Mhm.

Right, right.

Right.

Yeah.

Yeah, yeah.

Yes.

Well, and in all of those other cases, those other years that he talked about,

Burry?

Burry, that Burry talked about, um, there wasn't just one crash, right? Even even leading up to the to the uh financial crisis. It was it was like, oh there's a headline. Mmm, that doesn't feel great. A little bit of a dip. A little and then comes back. Oh, okay, and then and then something else happened. Oh, and down and then like it happened in 29 also, right? So, um,

Quant quake Summer of 07.

Yeah.

Yeah.

Yeah.

There's a great book on that out.

Yes, there is a good book on that that talks about all those little like other and also the

That actually was my takeaway from the book though.

Yeah, and also declines that happened after that, you know.

Oh, '32 is a horrific year. Yeah.

So, right. So, um, you know, does that mean that that's what we're setting up for? I don't know. But, you know, it doesn't, to your point, it doesn't feel great for those who have seen this or read about it or, you know, looked at markets at all before.

Yeah, there's a there's many people are saying there are many parallels.

That's right. That's right. Yeah. But there's but there's still a lot of bullishness out there.

So we'll leave it at that. We'll leave it at that. Yeah.