# The Trade Nobody Sees Coming

https://www.youtube.com/watch?v=p3A5te7y61U

[00:00] [music]
[00:02] Flip flops are having a moment this summer.
[00:04] It's uh not sneakers.
[00:05] It's not sports slides.
[00:06] We're talking about the $20 rubber thong sandal that you used to wear in third grade.
[00:10] Suddenly they're on runways on Haley Bieber, on Zoe Kravitz.
[00:15] It's a city shoe now.
[00:16] And yeah, you already know where this is going because somehow someway it always comes back to a shoe trade on this show.
[00:21] I don't make the rules, I just report the news.
[00:24] So, so is this a two-week fashion fad or is an earning surprise hiding in plain sight?
[00:31] Wall Street hasn't heard about it yet because the obvious stock here isn't the trade.
[00:36] The real trade is a company that uh most of you have never heard of.
[00:40] Trading in a currency that most of you don't own, pulling 99% of its revenue from one brand.
[00:44] Today on Dumb Money, the trade that nobody sees coming.
[00:47] This [music] is Dumb Money Live.
[00:54] Hey there, Dave here along with Chris and Jordan.
[00:56] We are Dumb Money.
[00:57] Welcome to Dumb Money Live.
[00:59] Before you get your flip-flopped beach uh sand, Chris is
[01:03] Literally at the beach right now.
[01:05] I don't know why we are not seeing a sandy view, but uh go ahead and smash the like button for us this morning.
[01:12] Uh Chris found this company.
[01:15] Uh it could be the flip-flop trade of the summer.
[01:16] If you saw that Google trend chart that's on our YouTube thumbnail, you'll see why we needed to do this emergency Friday show.
[01:21] Uh but guys, do you want to talk about the trend before we reveal the stock?
[01:27] Yeah, I'm glad you found the company because my favorite sandal company is private.
[01:35] Dude, the lore of this trade, man.
[01:38] The fact that the hottest shoe this summer barely qualifies as a shoe is insane.
[01:42] Um, basically, we're talking about a $20 flip-flop.
[01:45] Uh, that's a way better trade than the $900 shoe that started the trend.
[01:53] And we're not even talking like designer flip-flops.
[01:55] These are just the cheap rubber nasty ones that you buy and throw away at the beach.
[02:02] All right, but you have to.
[02:04] Understand the history of this trade.
[02:06] It is so fascinating.
[02:08] I have seen a lot in the shoe world over the last 20 years trading shoe companies.
[02:13] This is just a wild story, guys.
[02:15] So, basically in the spring of last year, 2025, Mary Kate and Ashley Olsen, remember the Full House girls?
[02:27] Yes.
[02:27] By the way, and and fashionistas, dude, these girls are business icons.
[02:35] They just might be the smartest entrepreneurs to ever be born out of the entertainment industry.
[02:42] I have so much respect for these two women.
[02:45] And also, by the way, like their sister Elizabeth Olsen is one of my all-time favorite actresses.
[02:53] I will literally watch anything that that woman is in.
[02:55] She is the greatest.
[02:57] Anyway, so they, you know, they they've been running this company called The Row, right?
[03:02] It's it's it's.
[03:04] Their fashion company.
[03:08] They come out with a flipflop in the spring of 25 called the Row Dune.
[03:12] It cost $750.
[03:18] And let me tell you guys, Google it.
[03:21] It's a $2 flip-flop.
[03:24] I think they spend $2 to make this flip-flop and they sell it for $750.
[03:28] It becomes the hottest celebrity shoe of 2025 summer.
[03:34] Jennifer Lawrence is wearing it.
[03:38] Kendall Jenner is wearing it.
[03:40] So Kravitz is wearing it.
[03:42] Jonathan Bailey, the wicked actor, is wearing it.
[03:45] My favorite actress, Elizabeth Olsen, their sister, is wearing it.
[03:47] I mean, dude, this thing catches fire.
[03:54] So what happens after that?
[03:57] What we always see it basically migrates downstream.
[04:02] And here we are in the summer of 26.
[04:05] And every single normie is now chasing that same fashion trend with a $20 flip-flop.
[04:13] Why?
[04:17] It literally looks identical.
[04:19] It's essentially the same thing.
[04:22] Now, to be very clear, guys, the trend is about fashion flip-flops because [laughter] even though it's a very simple flip-flop, the Road Dune is technically a fashion flip-flop.
[04:35] And so, everyone's chasing the same look.
[04:37] You even see guys that are like wearing jeans out at night to clubs wearing these like rubber flip-flops, which is honestly insane.
[04:45] Um this is a major trend.
[04:49] Uh if you look at the search patterns, the trend has deepened meaningfully from 2025 to 2006 as it's become more approachable uh and scalable for the general public.
[05:01] And there's one company benefiting more than any other.
[05:08] Company in the world because they have the flip-flop that is most similar to the row and they have the most meaningful amount of global distribution and the company is Javiana's.
[05:21] Okay.
[05:25] I wish it were any other company in the world besides Javiana's because the only way to trade Javiana's is through its parent company.
[05:35] Okay?
[05:38] And the parent company is called Alperatus.
[05:42] Alpatus trades on the Brazilian stock exchange.
[05:48] It does not have any active ADRs trading in the United States.
[05:51] So even when you do your search and you see that there's ADRs, those are not active, do not invest in those ATRs in my opinion.
[06:02] Okay.
[06:07] Now to trade Alpraatus, which is the Brazilian company where
[06:09] Dave, you mentioned 99% of their revenue comes from Javianis.
[06:12] This is about as pure of a pure trade as it gets.
[06:16] Yes.
[06:16] 98.9% for those keeping track at home, which is for us the dream social arb trade.
[06:24] And in Q1 of 26, their sales were up 12%, their volume was up 8%, their US sales up 22%.
[06:30] Uh, volume up 161%.
[06:35] This is a very hot company that just happened to be at the right place selling the right product at the right time, dude.
[06:42] But the majority of the benefit that has hit this company appears to have been in the last 60 days.
[06:47] Okay.
[06:50] Since this trend went mega viral at scale with Genpop globally.
[06:53] Yeah.
[06:57] The problem is the way that I normally trade these, you know, foreign stocks is through my Schwab Global account.
[07:05] And I contact Schwab Global.
[07:06] They don't.
[07:09] Trade Brazil local market.
[07:13] And this ticker only exists in the local Brazilian exchange.
[07:19] There is only one way for an American retail trader to trade this stock and it's through Interactive Brokers.
[07:29] Well, guess which seems to come up from time to time.
[07:31] Every time there's a international stock, even even with Schwab, you've had to do this before.
[07:36] They they may not trade it, but you ask for it and then a week later they will have it added to their platform.
[07:42] But it seems like Interactive Brokers is always on top of this.
[07:46] Well, we we we had So, guess who does not have an Interactive Brokers account?
[07:51] Me.
[07:51] You You don't have one?
[07:53] I don't have one right now.
[07:54] I I still have the old one.
[07:56] Uh I don't have any money in it, but I still have the old one.
[07:57] We traded some Canadian stuff.
[08:00] I've been I I'm sorry.
[08:03] Like I know I'm probably like if we ever want to get take a sponsor in the future, I'm probably screwing myself right now with Interactive Brokers.
[08:09] I cannot handle.
[08:12] Anything about that company.
[08:14] I have been trying to log into my old account for the last day.
[08:16] I can't figure it out, guys.
[08:17] I I I just it won't send me the It won't send me the validation text, the alert.
[08:24] Like even even when I had money in my account, I could never figure out how to get into it.
[08:29] Dude, it took me it took me like a week and a half to get my money out of Interactive Broker and I I've never gone back.
[08:35] So, I hope I hope they're never going to want to sponsor uh a future iteration of this.
[08:39] But yeah, either I am the most incompetent human in the world or there is something very wrong with Interactive Brokers and just trying to use it as a combination of both freak.
[08:50] It's probably a good combination of both.
[08:52] But here's the thing.
[08:54] We had two options today at Dumb Money.
[08:56] We could one delay this episode until early next week when I'm able to open up an interactive broker account and actually place a trade before we tell the entire world about it.
[09:05] Or we can say screw it.
[09:08] We care more about our community and sharing knowledge with them than we care.
[09:14] About ourselves making money.
[09:17] And we chose to go down path number two because that's how much we love you guys.
[09:21] So no, I don't have any money invested in this company.
[09:23] I desperately want to.
[09:26] I will probably open up an interactive broker account at some point next week and if the stock doesn't move too much, I might or might not invest.
[09:32] I don't even know at this point.
[09:34] I just wanted to share it with you guys.
[09:36] I listen, this is I love this trade.
[09:39] We're not financial advisors.
[09:41] Do not go out and go buy this based on what we're telling you.
[09:45] We wanted to air this episode quickly and early because we wanted to share the knowledge and have you guys do your own damn homework for once.
[09:52] Okay.
[09:54] Literally the uh the thumbnail for this episode is a text that Chris sent to our group chat.
[09:59] That is not like a mockup made for thumbnail purposes.
[10:02] That is the real thing.
[10:03] And uh we you you figured out what the ticker symbol is in Brazil.
[10:09] It's I'll just Here it is.
[10:09] It's AL P A4.
[10:15] And you can see their stock chart.
[10:18] Maybe if I can get this to work.
[10:20] Dave, this is the first time in our history where the thumbnail actually made itself.
[10:24] Our thumbnail is the text message that I sent to Dave and Jordan yesterday.
[10:29] That's the actual text message when I extracted a Google uh trends chart for the word flip-flop.
[10:37] Yeah.
[10:39] Now, and those trends charts, flip-flop, square toe flip-flop, wedge flip-flop, all of them hitting record highs.
[10:48] And it's it it's just one of those trends that's too strong not to pay attention.
[10:53] Okay, Chris, so we know it's hard to trade this.
[10:55] Uh you pretty much need an interactive broker account.
[10:59] Do you think it's worth a sympathy trade for other US-based uh companies that have sandals and and there's one that we've we kind of talked about before we went on the air, right?
[11:09] There's a handful, right?
[11:12] Um here's the problem.
[11:14] I feel like VFC Corp and uh and Deckers.
[11:17] Totally ruined themselves for this for this trend because they sold off their best um sandal assets.
[11:21] You had Sonuk and you had Reef, right?
[11:25] Um they of course had Reef, Deckers had Sanuk, great sandal companies, but they're, you know, both those companies are not private or owned by private companies.
[11:33] Um so really you've got what I think who owns Chacos?
[11:39] Is that Decker's dude?
[11:40] Dude, Jordan Decker at this point basically has TA.
[11:45] They got teas, but tea's that's not the right vibe for this trade.
[11:49] It's like one I think Sandals is like 1.3% of their rep now.
[11:51] So, it's not I will say this.
[11:54] I The first thing I got excited about was trying to trade Reef because Reef has massive distribution.
[12:01] They are now private as you mentioned.
[12:03] So, it's a tough trade.
[12:05] I think the way for investors to think about this sandal trend is like this.
[12:07] Okay.
[12:11] There are are are are basically different levels of conviction here.
[12:15] Hold on.
[12:15] I I actually
[12:18] I have this written down.
[12:19] Give me a second because I think this is really in.
[12:25] Hold on.
[12:26] Sorry.
[12:26] You can talk for a minute while I try to.
[12:29] Oh, here we go.
[12:29] Okay.
[12:32] So, you have to think about the quality of the signal and your conviction.
[12:37] What we have high confidence in as it relates to this sandal trade is that fashion attention and search momentum are super strong right now, exceptionally strong.
[12:47] That we have high conviction in.
[12:49] What we have moderate conviction in is that the actual retail sell through is definitely above normal from all of our data checks for any type of fashion flip-flop or fashion sandal subsegment.
[13:04] What we have less conviction in is that the entire broad sandal market is trending as a result of this.
[13:12] So, you really have to zone in on companies that make either fashion.
[13:18] Sandals or sandals that are very simple that kind of look like that rose sandal that went hyper viral last year.
[13:27] And that's why we come back to the Havana.
[13:29] But there are other companies and you're right that seem to be benefiting.
[13:33] And the chat is bringing up a couple, Crocs and Birkenstock.
[13:40] Okay, so if it one thing, one exercise I like to go through here is I like to type in the actual trend itself and then I look at related queries.
[13:52] And when I looked at the trend that was hitting hard, the number one related query of course was Havana.
[13:56] So like Havanas or however the hell you say it, that like dominated the related queries.
[14:03] Crocs did technically show up in there as well but not high enough that I'm super interested in it.
[14:09] But I will say this guys, kind of unrelated, but over the course of my research on this trade,
[14:18] I did a bit of a deep dive, which I hadn't done in a while on one of my favorite companies, Birkenstock.
[14:25] And all the trends on Birkenstock do tend to be up this summer.
[14:27] I think part of that is related to this and part of it is just completely independent.
[14:35] Now, the big reason why the Javianas are trending along with this is because they make a square toe sandal.
[14:42] Okay?
[14:43] And a big part of that rose sandal, part of it was square toe.
[14:47] Um they have the Arizona sandal at uh Birkenstock, which unlike the um the Javiana's and the Rose Sandal, which is the one that's truly trending, it has like two straps, right?
[15:01] We all know what Birkenstocks looks like.
[15:03] Technically is not uh the lead trend here, but very different looking.
[15:09] It seems to be going doing really well independent from this trend.
[15:15] So, I'm just going to come out and say it.
[15:17] I took a long position in Birkenstock.
[15:20] Kind of somewhat independent, but if you do a Google search uh uh uh if you do a Google search check on Birkenstock sandal, you will see a meaningful lift.
[15:33] In fact, it is about double the search index this June to last June.
[15:36] Double year-over-year.
[15:40] And it's a it's more than double for each going back the last five years.
[15:45] The last four years before this year it was just a very slow march up every summer.
[15:51] Doing slightly better every summer than the summer before.
[15:55] This summer we're getting a full double.
[15:58] That was basically all I needed to see unless the uh AI query searches are again um kind of like messing up Google search which I I can't say isn't happening.
[16:11] So there there's some there's still some risk there.
[16:15] But I I do I do really like what's happening at Birkenstock right now enough that I took a long position in.
[16:22] Well, in the research you sent over to us earlier, uh you also pulled similar web for Birkenstock and their site traffic is up uh month over month.
[16:32] It is in June.
[16:33] No, not not month no year over year.
[16:36] Year over year, year-over-year going into June, uh Birkenstock is showing a meaningful lift in web traffic year over year.
[16:43] Also, one thing that I love about Birkenstock, it's probably not a needle mover in terms of revenue this summer.
[16:52] Yeah.
[16:53] But Birkenstock has You're gonna laugh at me on this one, guys, because like I know way too much about women's shoes.
[17:00] It's kind of It's one It's one of your uh weird fetishes that we we've always known that about you.
[17:04] It's not It's It's just I've made so much money over the years trading women's shoe brands that it's just become my thing.
[17:12] But Birkenstock has a huge collab coming up on July 16th with Rapetto Ballet Shoes.
[17:19] And guys, again, I
[17:23] I know way too much about women's shoe trends, but women's ballet shoes have been so hot the last couple of years.
[17:32] Like fire.
[17:33] Like, like that trend has just been fire.
[17:37] So Dave, can you find the ballet shoes?
[17:39] I'll look for them.
[17:40] So if so, Repetto is a French ballet brand.
[17:43] Okay.
[17:47] Now they are coming out with ballet inspired shoes at Birkenstock for their Arizona line, which is like their biggest line, their ribbon, their scallop line, and their opera line.
[17:57] Okay, they're going to be featuring bows, ribbons, and Mary Jane details.
[18:02] I can't even believe these words are coming out of my mouth.
[18:06] [clears throat] And patent leather.
[18:07] Okay, now understand something.
[18:09] This is hitting at a time when fashion flip-flops are peaking.
[18:13] Okay, so I'm telling you right now, this is going to be one of the hottest collaborations of the summer.
[18:22] Now, will it move the needle?
[18:24] For Birkenstock? No.
[18:27] Will it lift the brand attention and foot traffic of women thinking about Birkenstock and going to the Birkenstock website?
[18:34] Absolutely.
[18:37] Is there a chance that all that lift in attention and foot traffic to a soldout ballet ballet collaboration ends up resulting in sales of other Birkenstock shoes?
[18:48] I think maybe.
[18:50] Yes.
[18:52] And so that's another tailwind for Birkenstock that I really really like this summer and that's ahead of us guys.
[19:00] That's not going to hit for another week.
[19:02] So that's, you know, you're getting ahead of that of that moment here.
[19:07] So we also saw that in their most recent quarter, especially when you compare it to just like the tra the traditional ugly Birkenstock.
[19:13] I mean, for women to actually have like real colors and good designs, I I think it's great.
[19:19] The problem, Jordan, is that this collab is going to sell out, I think, almost.
[19:27] Instantaneously.
[19:29] Um, now maybe they'll make more of them uh than usual, but I'm I'm just concerned it's not going to be a needle mover because it's a limited run and you just the limited runs always sell out.
[19:42] The fact that it sells out quicker isn't going to really help revenue.
[19:46] Yeah, but they're they're uh in their most recent quarter, they did have revenue up, but that quarter ended before this spike in search and that ended before the spike in similar web.
[19:59] Yeah.
[19:59] So, I there is there is some like I think that the the reason you took the position makes sense.
[20:04] I haven't taken a position.
[20:07] I'm I I need to do a little more research.
[20:10] I need to read the 90page report you sent me.
[20:12] [laughter]
[20:14] So, I I'll give you a little summary here.
[20:15] There's six forces that are reinforcing this flipflop trend cycle.
[20:20] One, we already talked about that luxury legitimization with the Rove flip-flop from last year that is crushing it.
[20:26] And
[20:29] now you have all these other designer
[20:30] brands like Maxra, Balenciaga,
[20:34] all extending that silhouette within
[20:37] their own kind of brand lines. You have
[20:39] this huge 90s and Y2K revival happening
[20:43] right now with rubber thongs, the jelly
[20:45] materials, all the square toes, the
[20:48] wedges, the kitten heels that's popping.
[20:50] Okay, you have this really wide price
[20:53] ladder which is at the top end you have
[20:56] the rose at $750. At the bottom end of
[20:59] it, you have the Javiana at $20. So,
[21:02] everybody can participate in this which
[21:04] is really cool. Like I mentioned
[21:06] earlier, you have all these celebrities
[21:08] endorsing the trend. So Kravitz, Haley
[21:10] Bieber, now Jennifer Lawrence, Sadell,
[21:13] even Anne Hathaway is wearing these
[21:14] things. So like there's just so much
[21:17] going on and there's so many occasions
[21:20] where you can wear this now. like
[21:22] they're honestly like people are wearing
[21:24] these flip-flops with dresses, styling
[21:27] them for the city, obviously pool and
[21:29] beach, that's always going to be there.
[21:30] But it's just it's hitting across every
[21:33] part of like the summer culture and it's
[21:37] a really this is this one I love, guys.
[21:39] This is like the last piece of why why
[21:42] this cycle could be massive is because
[21:44] there's so much product iteration
[21:47] bandwidth. If you think about it, the
[21:50] colors, the materials, the co the toe
[21:52] shape, the sole height, uh the degree of
[21:55] embellishment, the heel type, there's so
[21:58] much novelty that you can spin off of
[22:01] this trend. It's a trend that can
[22:04] continue season after season. Is it
[22:07] going to last for five years? I don't
[22:10] know. Could it definitely last beyond
[22:12] this summer into the spring and summer
[22:15] of 27? I think it actually can. So,
[22:19] there could be like a meaningful runway
[22:22] for the brands that are actually
[22:23] benefiting from this whole flip-flop
[22:26] trend. It's actually a really exciting
[22:28] social arc trade to deep research. I'm
[22:32] just so pissed off that I can't trade
[22:35] the number one option here, which is
[22:38] that Brazilian company, because I don't
[22:40] have an Interactive Brokers account.
[22:41] Like, Schwab needs to get more
[22:43] aggressive. In fact, forget about
[22:45] Schwab. Felad, if you're watching this
[22:48] right now, Robin Hood has got to open up
[22:52] international markets for US investors.
[22:55] The same way they're opening up the US
[22:57] market for international investors by
[22:59] tokenizing US stocks. What if we had a
[23:01] tokenized version of uh Havanias?
[23:05] Dude, yes. I'm telling you right now, I
[23:06] really hope can can people can we please
[23:09] do a short take of this and complete
[23:11] people please tag Vlad. We are begging
[23:14] you as US investors to allow us to
[23:18] invest in international stocks through
[23:21] Robin Hood, through tokens or any other
[23:24] means. We are desperate for it as retail
[23:27] investors. It is so unbelievably
[23:29] difficult for a US investor to trade.
[23:32] It seems weird that in 2026 like these
[23:36] online brokerages, you can't trade
[23:37] international stocks. What is the
[23:39] limitation? I know in United States we
[23:41] have like clearing houses and there's
[23:43] regulations. I'm sure it's the same for
[23:45] international.
[23:46] I am so pissed off, Jordan. I don't
[23:48] know. No. So, here's the way.
[23:49] Do you think they would just like
[23:50] partner with um with companies that are
[23:53] already doing business there and then
[23:55] you could just reroute the trade
[23:57] through? I
[23:58] Yeah. So, so, so when I talked to Schwab
[24:00] about this, the answer they gave me is
[24:02] they said they don't have a partner, a
[24:05] local partner in Brazil. So if there is
[24:08] any
[24:09] you though you didn't get one, you know.
[24:10] Yeah. Okay. But Jordan, if there is
[24:12] anyone in the world, if there's anyone
[24:14] in the financial sector that can figure
[24:16] out a way to pull this off, it has to be
[24:18] Vlad at Robot. And I just do not
[24:20] understand why he hasn't done it yet.
[24:22] I agree. But I think the reason they
[24:23] haven't done it yet is this is the first
[24:25] time in your 50 years of trading that
[24:27] you've ever wanted to touch the Brazil
[24:29] market. So it's like there's a lot that
[24:31] has to happen for this one trade that
[24:33] happens to be an opportunistic trade.
[24:35] Honestly, Dave, there have been so many
[24:38] international trades that I've wanted to
[24:40] make and I just like h I I only really
[24:42] care about them because it's so
[24:44] difficult. It has to be a high
[24:46] conviction trade and I have made a
[24:47] multitude of high conviction trades
[24:49] through Schwab Global in um Japan as you
[24:52] know um you know across the world. I I I
[24:56] trade European markets. It's just a pain
[24:58] in the butt because you have to transfer
[25:00] the local US currency into the local
[25:03] currency overseas. And with Brazil,
[25:05] you're taking a currency risk, too. So
[25:07] there's there's that.
[25:08] But by the way, also Dave, you you pay
[25:11] like one up to 1% to make that currency
[25:14] transaction. Then you pay terrible
[25:16] another 1% trans, you know, exchanging
[25:19] it back into US currency. So that's
[25:21] that's 2% just on the currency hit. So
[25:24] like, hey, hey, Robin Hood, it's a lot.
[25:26] There's a lot of money to be made here
[25:27] if if you can allow us to trade these
[25:30] international stocks. We're we're
[25:31] actually begging you. This could be a
[25:33] massive segment for Robin Hood and I
[25:36] really hope it gets prioritized on the
[25:38] new product um list because I'm I'm
[25:40] dying for it. It I'm gonna have to open
[25:42] an Interactive Brokers account and then
[25:44] I got to move money into Interactive
[25:46] Brokers which sucks because like I don't
[25:49] want my money sitting
[25:50] and then how long does it take for the
[25:52] Here's the nice thing about Schwab is
[25:53] the second you move money in um even
[25:57] before it's cleared you can start
[25:58] trading with that money they like they
[26:00] front you the money. Do interactive
[26:01] brokers do the same thing?
[26:03] Oh, do they?
[26:03] Or is it gonna be like three days before
[26:05] it clears and then
[26:07] I doubt they'll do the Nobody does. It's
[26:09] like a Robin Hood thing, I think,
[26:10] mostly. I don't
[26:12] I don't uh Yeah, I I I doubt I doubt
[26:16] that's going to happen.
[26:16] I've never used it. So,
[26:18] yeah, I doubt that's going to happen. Um
[26:21] Yeah, man. So, so this is this is this
[26:23] is a trade that I I want to give some
[26:25] credit because I've been so busy this
[26:28] you guys know this like I've been taking
[26:30] a lot of uh personal time uh family time
[26:35] uh which I love. I've been telling
[26:36] everyone like this is the summer to do
[26:39] your research, place your trades and go
[26:41] on vacation and just do not get lost in
[26:44] the noise of this market because none of
[26:46] it actually matters. There's actually
[26:48] not th that many things that are
[26:50] changing on a week-to-eek basis. You do
[26:54] not have to be glued to your brokerage
[26:56] app and to financial news every hour of
[26:58] every day this summer. Actually,
[27:00] I say I say it every year. Sell in May
[27:02] and go away. Like, yeah, literally, I'm
[27:04] I'm still here, but I I'm not going to
[27:06] be sitting in this studio next on our
[27:08] next show,
[27:09] dude.
[27:09] I'm gonna be on the beach.
[27:11] Dave, I completely agree with you, guys.
[27:13] Go live your life. Don't get consumed by
[27:16] all this noise. it's going to end up
[27:18] losing you money and then you're going
[27:19] to like miss out on your whole summer.
[27:21] I'm not missing out on my summer. I just
[27:23] don't care. Um, all this market noise is
[27:26] mostly complete BS, quite honestly. And
[27:30] I look, here's here's the tweet I sent
[27:31] out. Like, there's never been a better
[27:33] summer to deep research, place your
[27:34] trades, and disappear. The noise is
[27:36] louder than ever. Most of it's not going
[27:38] to matter. I promise you guys, it's not
[27:41] going to matter. Um, but what was I
[27:44] gonna say? Um,
[27:47] and there's something really important
[27:48] here. Hold on, guys. I'm I'm looking for
[27:50] Oh, we have to touch on Bloom Energy.
[27:54] This is actually insane, guys. The same
[27:57] rumor has been circulating
[28:00] for years by short sellers that Bloom
[28:05] Energy does not have enough scandium to
[28:09] power their fuel cell technology and
[28:12] that the entire company is a huge scam
[28:15] and is going to be you see the video
[28:18] that was put out. Um,
[28:21] dude, dude, this guy
[28:22] the partner of uh who was this guy?
[28:25] Dude, Jordan, this guy went on CNBC
[28:28] yesterday and inferred that Bloom Energy
[28:31] could be the Theronos of the AI cycle.
[28:33] And the stock is down 20% in the last
[28:37] few days. And it's the same rumor that
[28:41] the company has debunked over and over
[28:44] and over again. It's quite honestly,
[28:48] right, the CEO is literally on mic
[28:50] talking about that it's a non-issue.
[28:53] Yeah.
[28:53] Several times.
[28:54] So, so is this what is this a buying
[28:56] opportunity? Are are we doubling down?
[28:58] Are we cautiously optimistic?
[29:00] Guys, here's my statement on this
[29:03] because this is just this has to stop at
[29:06] some point. Is it theoretically possible
[29:09] that Bloom is lying about Scandium and
[29:11] that Brookfield, Oracle, Nebius, they
[29:14] all failed, okay, uh, to uncover this
[29:18] crazy fatal supply constraint before
[29:20] committing to multibillion dollar deals
[29:22] to Bloom? Yeah, I mean, it's
[29:24] theoretically possible, but it's
[29:27] extraordinarily
[29:28] unlikely. So, Bloom came out and they
[29:30] basically stated in an SEC filing
[29:32] yesterday that it does have sufficient
[29:35] non-China scandium supply for its
[29:39] current demand and its backlog. And they
[29:41] are saying that they have visibility
[29:43] into 25 gigawatts of annual production,
[29:47] which is absolutely insane. Um, I'm
[29:51] going to assume it's true. Okay. Now,
[29:52] Brookfield expanded its partnership with
[29:54] Balloon, okay, to $25 billion. Nebas
[29:59] committed up to$2.6 billion dollars.
[30:01] Oracle who contracted for an initial 1.2
[30:05] gigawatts uh for bloom uh just uh I
[30:09] think they they they have their
[30:10] agreement going up to 2.8 gigawatts. So
[30:14] something that you have to understand
[30:16] about scandium the estimates are not
[30:19] precision exercises. Okay. So blooms
[30:22] material intensity, their manufacturing
[30:25] yields, their inventory, their supplier
[30:27] contracts and their future efficiency
[30:30] gains which are the most important piece
[30:32] of this puzzle are not publicly known.
[30:36] Okay? So you either think that they are
[30:39] boldfaced lying to you and all these
[30:42] companies did not do their due diligence
[30:44] or that this random investment company
[30:47] and the couple short sellers that came
[30:49] out before them last year and the year
[30:50] before know more than all these
[30:53] companies and maybe they do read the
[30:55] read the short report. I would say read
[30:57] it. Okay, read Bloom's response. Go on
[31:00] X, read all the analysis. There are so
[31:03] many people, engineers that are doing
[31:05] excellent analysis on Scandium. And I
[31:07] think the smartest ones ultimately tell
[31:10] you, hey, this is a really complex
[31:12] computation. And we can't even do it
[31:14] without the proprietary information that
[31:16] Bloom has. So, it's I think impossible
[31:19] for a short seller to come out with
[31:21] conviction and say that they don't have
[31:23] access to the scandium that they need to
[31:25] produce because they do not know the
[31:27] efficiency levels that Bloom has reached
[31:29] and that they're using in their math for
[31:31] their fuel cell technology. But
[31:33] honestly, guys, do your own homework.
[31:35] Make your own decision. I'm not selling
[31:37] Bloom. That's my own personal decision.
[31:39] So, don't blame it on me if they do turn
[31:42] out to be the next Theronos. I just
[31:44] don't think that they are based on my
[31:46] research. But guys, you got to do your
[31:48] own research on this. Um, I might buy
[31:50] more Bloom.
[31:51] This it's not new news. It's just
[31:54] repeat. It's rehashing old rumors.
[31:57] It's the same It's the same rumor from
[31:59] what last year.
[32:00] Okay. But but
[32:01] this has been swirling around this
[32:02] company for for decades, right? They
[32:04] they have they've always been thought of
[32:06] as like, well, there's something going
[32:07] on with Bloom. It it seems too good to
[32:09] be true, so it has to be a scam. And
[32:11] they Oh, no, no, no. Hold on. They they
[32:13] do have a history to to give the short
[32:16] sellers some credit. This company does
[32:19] have a history going back before the AI
[32:21] age in making um you know basically
[32:25] saying things that didn't come to
[32:26] fruition or got delayed meaningfully as
[32:30] most the companies in the world do right
[32:33] uh like that just happens when you're
[32:34] working on bleeding edge technology. But
[32:37] I don't think that's where we are in the
[32:38] cycle. Also, what they're coming out and
[32:40] saying is that the data centers that
[32:42] they're connected to are getting
[32:43] delayed. Now, what the short seller did
[32:45] not say is that all data centers are
[32:47] getting delayed. It's not like the ones
[32:48] attached to Bloom only are getting
[32:50] delayed. We all know that every data
[32:54] center project is going to get delayed.
[32:56] That's like kind of a known thing
[32:57] amongst everybody in the AI sector. So
[33:00] to pinpoint the ones that they're
[33:02] working on with like Brookfield or with
[33:06] Oracle are getting delayed and being
[33:08] like that's a red flag. No, that's the
[33:09] entire sector guys. So just stop it.
[33:12] Just stop it. Okay, I it's I'm willing
[33:16] to to to the riskreward here. I'm fine
[33:19] with it. When I look at all the
[33:20] companies in the sector and I look at
[33:22] Bloom, I do believe in their fuel cell
[33:26] technology. I've done a tremendous
[33:28] amount of work on it. I'm comfortable
[33:30] with it. Uh, will it get delayed?
[33:33] Everything gets delayed in AI. I just
[33:35] don't care. I don't care. I'm in.
[33:38] H, man. I know I'm ranting today, but
[33:43] there's just these these short guys.
[33:47] I appreciate them honestly because
[33:49] sometimes they're right. But I I didn't
[33:53] like I didn't like this guy's appearance
[33:55] on CNBC yesterday. He was he was just
[33:58] really cocky and it was the same.
[34:01] Is it the um what's his name?
[34:05] No. No. Jordan, this is this is a firm
[34:08] that actually doesn't do a lot of short
[34:11] selling. So, you got to give them a
[34:12] little more credit. They're like they're
[34:14] generally like a um an asymmetric long
[34:19] uh company. They do have this media
[34:21] division. If you have a media division,
[34:23] it makes me think that you're getting
[34:24] more into short selling because that's
[34:27] what all the short sellers do. I don't
[34:31] It's a Hunter Brookke.
[34:32] Yeah. I don't
[34:34] media.
[34:34] I don't necessarily think he's being
[34:37] disingenuous
[34:39] with his research.
[34:40] I think he believes 100% in his thesis.
[34:43] Yeah. Which is fine. But again, this
[34:45] opens up an opportunity for investors to
[34:48] take a side. So So this is what you
[34:50] want, guys. you you want to understand
[34:53] the other side of your trade, which in
[34:56] this case, this week with Bloom being
[34:58] down 20% is a short thesis that says
[35:00] these guys are lying to you. They're
[35:02] lying to you. Um, so now it's your job
[35:04] to go out and make an assessment. Is
[35:07] Bloom lying to us? Is Brookfield
[35:09] incapable of doing any due diligence? Is
[35:12] Oracle incapable of doing due diligence?
[35:14] Do you think they sign these
[35:16] multibillion dollar deals and basically
[35:18] stake their future on this energy cell
[35:21] technology without having confidence
[35:25] around the scandium that would be
[35:27] required to power these fuel cells? I'm
[35:31] going to make a decision that they
[35:33] wouldn't do that. But it's always
[35:35] possible. This guy could be right. You
[35:37] you gota you got to be open to the
[35:40] scenario of that possibility. I'm
[35:43] willing to take that risk. I don't I
[35:46] don't know how else to say it. I'm
[35:47] willing to take the risk.
[35:51] Um, back to sandals. [laughter]
[35:55] Oh, by the way,
[35:56] what do we think about uh how about this
[35:57] one? Um, and I haven't I've done zero
[36:00] research into this, so I have no idea,
[36:01] but like the Gap um because it's a jean
[36:05] sandals combo, right? So, you get you
[36:06] get both.
[36:07] You know, you know what, Jordan? What's
[36:09] you get you get Old Navy and Gap selling
[36:12] both sandals and jeans.
[36:14] It's a twofer.
[36:15] So, in my research, Jordan, I was able
[36:18] to surface the fact that one of the one
[36:21] of the most uh appreciated
[36:24] flipflop brands that people love is Old
[36:27] Navy. And Old Navy did come up in the uh
[36:32] related search queries, but again, not
[36:34] high enough. And I don't think it's a I
[36:37] don't think it's a needle mover for the
[36:39] Gap. Jordan, I'm not going.
[36:40] It's just a Well, I mean, their their
[36:41] sandals are cheap and they tend to just
[36:43] be like a, you know, a point of sale.
[36:46] Um, you know, you just grab a set on the
[36:48] way out.
[36:49] I don't think anybody's going there for
[36:51] the sandals. They're buying some jeans
[36:53] and they're like, "Oh, you grab a $7
[36:54] pair of sandals or whatever."
[36:56] Can I give credit to one of our
[36:58] community members that surfaced this
[37:00] trade? And by the way, I have not been
[37:02] the Discord. So for all I know, there
[37:04] could be so many community members that
[37:06] were on this trade a month ago. And I'm
[37:08] sorry, I've just been too distracted to
[37:10] get in the Discord recently. But there's
[37:12] a guy on X. His name is Bordai. B O A R
[37:16] D Y AI. Uh, and he was the one that kind
[37:20] of pinged me yesterday on the flip-flop.
[37:22] And I'm like, flip-flops, they're
[37:24] trending. Like I'm just guys, I am not
[37:29] at the top of my game. I I I'll just I
[37:31] gota I gotta tell I'm not spending four
[37:34] hours a night reading Tik Tok comments
[37:35] like I used to probably doing an hour
[37:38] hour and a half these days quite
[37:40] honestly and I'm missing uh I've been
[37:43] focused on AI. You guys know this. I'm
[37:46] missing a lot of these consumer trades
[37:47] that are happening right now. So, I've
[37:50] always said like there are so there's so
[37:53] much opportunity to social this market
[37:57] because even guys like me that
[37:59] historically have been on top of every
[38:02] shift in consumer behavior, every shift
[38:05] in culture, even guys like me are
[38:08] focused on the AI trade, which means
[38:09] that we're missing a lot of the other
[38:13] opportunities in the market. So, you
[38:15] know, if I was a trader and I did want
[38:20] to spend 8, nine, 10 hours a day
[38:22] researching instead of at the beach or
[38:24] in a pool this summer, I would spend at
[38:28] least some of that time looking at
[38:30] consumer trades. Oh, by the way, one
[38:32] thing on Birkenstock I think we have to
[38:34] acknowledge is that Birkenstock got hit
[38:38] some this year due to tariff issues.
[38:42] their margins kind of got crushed with
[38:45] these tariffs and they came out last
[38:47] earnings and said that they would have
[38:49] an even worse margin impact going
[38:52] forward than they did this last quarter.
[38:54] Now that information is known by
[38:57] investors
[38:58] so it should be baked into the stock.
[39:01] They did say that they would address
[39:03] that with price increases and it looks
[39:07] like because of the consumer demand on
[39:10] their product that the price increases
[39:14] are not putting any dement in dent in
[39:16] demand. So
[39:18] I am I don't have an issue with the
[39:21] tariff situation in Birkenstock. I feel
[39:23] like the bad news is baked in and I feel
[39:26] like some of the good news of this
[39:27] summer of flip-flop that tangentally
[39:30] will I think positively impact Burke is
[39:34] not fully baked into the stock yet. So
[39:37] that's kind of my thesis. I wouldn't
[39:38] call it a high conviction trade on
[39:40] Birkenstock by any means. This would be
[39:43] a medium conviction trade for me. And
[39:46] quite honestly, I'm just pissed off that
[39:47] I can't trade Javiana's through that
[39:50] Brazilian company. Maybe I will next
[39:52] week. I got I got to open up it. Dave,
[39:54] did you open up a new Did you get into
[39:56] your Interactive Brokers account?
[39:57] I I gave up on trying uh years ago and
[40:02] it it may have closed because there's no
[40:03] money in it. I I feel like I kept like a
[40:05] few dollars in it just so it wouldn't
[40:07] autoc close because I've had that happen
[40:08] to brokerages before. Uh but no, I'm I I
[40:12] don't think it's even This is the
[40:13] summer. I'm I'm about to go vacation for
[40:17] the rest of summer, so I don't I don't
[40:19] think I'm going to even mess with this.
[40:21] I was not thinking of making a trade on
[40:24] this, Javianas, but I was uh about to
[40:26] buy a pair of flip-flops. I'm I'm just
[40:29] browsing here while you're while you're
[40:30] talking. Do you like these blue ones or
[40:33] or see these ones? These are the Mexico
[40:36] ones,
[40:37] dude. I feel like the Mexico ones are
[40:40] 100%
[40:42] you.
[40:43] I mean, I don't really like that color
[40:44] way as much. I kind of like the lighter
[40:46] ones better. If they had a palm tree on
[40:48] them, I would like it, but maybe these.
[40:51] That looks like you too, man. It kind of
[40:54] It kind of does.
[40:55] I don't see I don't I don't wear these.
[40:57] Do Do you want to see something so
[40:59] funny, Dave? I don't know if you can
[41:00] throw this up for me.
[41:01] Hit share screen and I'll be able to do
[41:04] it. You can do it from uh from within
[41:06] Streamyard.
[41:07] Well, dude, I'm It's on my phone. I just
[41:10] texted you a pic. There's any way you
[41:11] can do it?
[41:12] Are you on your laptop right now?
[41:13] No. So, so I want to tell you within
[41:16] five minutes of me finding out about
[41:18] this trade, I walked into this beach
[41:21] house, Center Hall, and I'm I'm here
[41:23] with like I'm about to go home. The
[41:25] vacation's over, but I'm here with uh
[41:29] fatherson trip with my son and six of
[41:32] his high school buddies. By the way,
[41:34] it's like living in a frat house. I've
[41:37] never seen dirtier, more disgusting. Um,
[41:41] just
[41:42] horrible like in comes when it comes to
[41:44] keeping the house. I walked in the house
[41:46] yesterday and I don't know what the
[41:47] probability of this, but these kids and
[41:50] it's like 100 degrees here. They left
[41:52] the front door open and the refrigerator
[41:54] door wide open at the same time.
[41:57] Are my kids there?
[41:58] I walk to get I walk to get a protein
[42:00] shake like 40 minutes. I come back to my
[42:03] house. Front doors open. The
[42:05] refrigerator doors open. The entire
[42:07] refrigerator is baking. No baking. I'm
[42:10] like, dude, how does that even happen?
[42:12] Like, how do you leave the front door
[42:14] and the fridge door wide
[42:16] wide open? But
[42:18] how much sand is in that living room
[42:20] right now,
[42:20] dude? They actually have mounds of food
[42:23] on the floor. It's like they eat and
[42:25] just throw it on the floor. Just throw
[42:27] it on the floor. Like I don't even this
[42:30] is where like a lot of the um mom like
[42:33] now I start you start to a little bit
[42:35] appreciate some of the mom frustration,
[42:38] right? But like yeah that that's that's
[42:41] what I walk into. Flip-flop city. I'm
[42:43] like this has to be a sign, right? That
[42:46] has to be a sign to trade flip flops.
[42:49] Now, none of those are the fashion
[42:51] flip-flops that are trending that are
[42:53] the core of this thesis, but Oh. Oh,
[42:57] there there is a pair of Hey dudes in
[42:58] the middle there, right?
[43:01] Probably some Reeves and some Samuks in
[43:02] there.
[43:03] Yeah. Now, which which of those do you
[43:05] think would be mine? Which of those are
[43:06] mine? The ones that are mine are
[43:10] actually the
[43:10] Are yours not the Hey dudes?
[43:12] No, no, no, no. I don't wear I haven't
[43:13] worn those in years. The ones that are
[43:15] mine are the ones that are way off trend
[43:17] right now. Are they the leather ones?
[43:20] No, the research shows are down 20%
[43:23] year-over-year.
[43:24] The the the Nike sport ones in the at
[43:28] next to the wall that like the beige
[43:32] uh
[43:32] Oh, yeah. Oh, that's an old man sandal.
[43:35] Is it? I don't think so, dude. I think
[43:36] they were super cool like a year ago.
[43:39] Last year they were big.
[43:40] Old people wear Nike, Chris. Come on.
[43:42] No, no, it's nothing to do with Nike.
[43:43] You just they they just h they just
[43:45] happen to make the best most comfortable
[43:48] version of that style. I you know I
[43:51] don't really like Nike at all anymore.
[43:54] Um well this is a random uh random uh
[43:59] summer episode. I feel like what else
[44:01] should we There's so much to talk about
[44:03] right now. There's actually so much
[44:06] going on. Um,
[44:08] okay. So, the other tangential trade to
[44:10] this, um,
[44:10] yeah,
[44:11] which I don't think really the sandals
[44:13] thing is gonna move the needle for,
[44:15] somebody else mentioned it. I forgot
[44:17] who. I'd have to scroll up forever to
[44:18] find it. Marcato Libre. So, um, we're
[44:21] talking Brazilian companies. Uh,
[44:24] e-commerce in South America. I'm long.
[44:27] Marcato Libre has nothing to do with
[44:29] sandals, though.
[44:30] But why why just Brazil?
[44:32] Uh, yeah. it's growth of online uh
[44:35] marketplace in Brazil and well South
[44:36] America, Latin America.
[44:37] But like do you have like a general long
[44:40] thesis on Brazil? Because the only
[44:42] reason I would do that is if you are
[44:44] hyped on Brazil and I'm not saying you
[44:47] shouldn't be. I just don't haven't spent
[44:48] any time focused on Brazil, but it is is
[44:52] a
[44:53] grow it's a growing market. Yeah.
[44:54] Is is Micardo Libre exclusively Brazil?
[44:57] Because I feel like
[44:58] No, no, they're south I think it's
[44:59] mostly South America.
[45:01] Okay.
[45:02] But Brazil is obviously your largest
[45:04] most popular country.
[45:06] That's interesting. I feel like I've
[45:08] made more trades this week I want to
[45:10] talk about. Let me let me I'm just
[45:12] opening up my brokerage account to see
[45:15] what's going on.
[45:17] Um, by the way,
[45:19] Marcado Libre is Argentinian is what
[45:22] somebody's saying. Um,
[45:26] hold on here, guys.
[45:31] Just take a look here.
[45:39] I have not had any mindset change on
[45:43] Amazon. I am aggressively
[45:47] hyped
[45:49] and levered
[45:52] and pumped
[45:54] about my Amazon long position more so
[45:57] than I ever have. And [snorts]
[45:59] I just don't see that changing anytime
[46:01] soon. Uh because people continue to ask
[46:04] me about Amazon. I'm just sorry guys.
[46:06] I'm just looking through because I feel
[46:08] like I did make some additional trades.
[46:11] Or maybe maybe it's just living in my
[46:13] head. Maybe it's just the Birkenstock
[46:15] trade.
[46:17] You thought about some trades.
[46:19] Yeah. Yeah. I don't know. I have all
[46:21] these ideas, but then when we get on the
[46:23] episode, I forget about all of them. I
[46:24] need to start taking more notes.
[46:26] rolling. I I wasn't really prepared to
[46:28] do an episode today until I sent that
[46:30] text to you. I was like,
[46:31] this is very last minute.
[46:33] We just got to do it. Uh where do you
[46:36] get that money shirt from? Dave, where's
[46:37] that?
[46:38] Uh this is a dumb money. This is
[46:39] actually a misprint from some new Dumb
[46:41] Money merch. Our back to school line.
[46:44] Wait, we have a back to school line.
[46:45] We will.
[46:46] It's actually It's on the It's on the
[46:48] store now. But uh
[46:50] you can tell us. [laughter]
[46:52] I don't care about selling merch. It's
[46:54] like literally uh if you want it, you
[46:56] you'll you'll see it. But this is a
[46:58] misprint because it doesn't have the uh
[47:00] the weathering and also it's crooked.
[47:03] You'll you'll notice that it uh is like
[47:06] slanting this way, but that's fixed. But
[47:09] I liked this shirt so much. This is just
[47:11] a uh a Bella Canva that I switched all
[47:15] of the back to school line to Bella
[47:17] Canva in colors that make sense for the
[47:21] thin. I'm doing some shopping. I love
[47:22] Bellacan though.
[47:23] It's not the super thin. It's their
[47:25] slightly heavier weight. It's like 3.4
[47:28] ounce. It's It's not the 4 oz
[47:30] heavyweight, but it's it's nice.
[47:32] Why can't we do the heavywe?
[47:34] Well, we have we have the heavyweight in
[47:36] the store already trend.
[47:39] These have these have the side seams
[47:40] that are cut so that so that it's like
[47:43] uh sewn on the sides. It's called the
[47:45] retail uh it's their higherend retail
[47:47] line. and I saw that they had it and I
[47:50] this misprint was done in it and I've
[47:52] I've worn this like five times since
[47:54] since I got the misprint delivered.
[47:56] I I just don't love the way that the
[47:59] thinner material kind of drapes and just
[48:02] like stick you know like it's just
[48:04] try Okay, buy this shirt. It's like I
[48:07] don't even know 20 bucks or something.
[48:08] Okay, I'll buy it. I'll buy it.
[48:11] If you uh are looking for a merch store,
[48:13] we'll it will link you to it. This is
[48:15] now a commercial. This This is This is
[48:18] Chris's favorite picture of himself.
[48:20] Why won't you change it? How many times
[48:22] have I asked you to please Why won't you
[48:25] do it, Dave?
[48:26] I will tell you. You know why I won't do
[48:28] it? Because I don't have a good picture
[48:29] of you.
[48:31] I don't have one that works.
[48:32] I sent you so many.
[48:34] Okay. So, look. This is This is the new
[48:37] money line. Okay. Look at this.
[48:40] It's done in like collegiate font with
[48:43] leathering and the dumb money live like
[48:46] a university style logo.
[48:47] Dude, I kind of like that.
[48:49] And you can get it in like Dartmouth
[48:51] green or what? Many different schools
[48:54] have a a red
[48:55] that baby blue. My name
[48:58] like
[48:59] dude, I like that white. Wait, what was
[49:00] that last one? That is that blue?
[49:02] This is light blue and then there's uh
[49:05] off-white.
[49:08] What kind of do is st is that when dumb
[49:10] money live uh kicked off was in 2020?
[49:13] Yeah. Yeah.
[49:14] Oh, that's live. That's great.
[49:16] Oh, yeah. Somebody made a suggestion.
[49:17] What if it just said dumb across the
[49:19] top?
[49:20] Well, the the original version said dumb
[49:22] money and then I tried a dumb version,
[49:24] but money
[49:25] I like I just think money is good. Money
[49:27] is good, dude. I like it.
[49:29] Oh, but I did I did an old money and a
[49:32] new money version, too. [laughter]
[49:36] Dude, new money is great, dude. Oh, I am
[49:39] so we'll see which one sells more.
[49:42] And just the money hat. I thought the
[49:44] money hat was nice.
[49:45] No. No. It must be new. Can we put do a
[49:48] do a new money hat?
[49:50] You want a new money hat?
[49:51] Yes. I cuz people are so obsessed with
[49:54] old money and it makes me sick. I The
[49:58] obsession with old money.
[49:59] The phrase new money. I prefer the
[50:02] phrase young money.
[50:04] Young Money is good, too. I don't know.
[50:06] Um, I just like New Money because people
[50:10] are so like [ __ ] ridiculously
[50:17] just overly hyped on the old money thing
[50:20] now. And it just I hate it. Like I I I I
[50:23] think it's the dumbest thing in the
[50:25] world.
[50:25] I think I think new money is funny just
[50:27] because
[50:27] Yeah,
[50:28] because of old money.
[50:29] Yeah, I agree.
[50:30] But I don't know that I'd wear a hat
[50:31] that says new money. I just think the
[50:33] money hat is the one to have.
[50:34] Maybe, maybe, maybe.
[50:36] And it has the Dumb Money Live like
[50:38] collegiate logo on the back.
[50:39] All right. I I like it. Um
[50:44] All right, guys. I Dude, this is I have
[50:47] like another like hour to get in the the
[50:49] ocean, then I got to go home. So, like
[50:51] I'm I'm the vacation's over, so I got to
[50:53] enjoy my last little tiny bit of beach
[50:56] here.
[50:56] Yeah, get out there.
[50:57] Put some flip-flops on.
[50:59] Yeah, because I'm flying home today.
[51:01] All right. Well, I'm uh flying out
[51:03] Tuesday, so maybe we can have uh lunch
[51:05] before you go.
[51:06] Oh, 100%. Uh this weekend.
[51:08] Yeah.
[51:09] And then I I had uh I'm really kind of
[51:11] psyched. I have a a a bed
[51:16] um what do you call the thing that goes
[51:18] over the top of your pickup truck bed,
[51:19] Jordan? What's that called?
[51:21] Bed cover.
[51:22] Bed cover. I'm having a bed I had a bed
[51:24] cover installed this week on my new on
[51:26] my old
[51:27] I feel like I don't know. Um, I feel
[51:30] like you're trying to like pose as a
[51:32] truck guy. I've been thinking
[51:34] Look, Chris, my look my culture is not
[51:37] your costume. Okay, let's just say that,
[51:41] dude. Jordan, I
[51:42] He's appropriating uh truck culture.
[51:46] I am I am hardcore pickup truck guy now,
[51:49] dude.
[51:49] Yeah, because because he test drove
[51:50] three of them and you had to have one.
[51:53] You didn't get rid of your old car, did
[51:54] you?
[51:55] Yeah, I traded. I'm I'm done with Lexi.
[51:57] have just
[51:57] people hate people want to see the
[51:59] truck. Do you have you have a picture?
[52:00] I am so dude I am so done with with
[52:03] anything other than my pickup truck. My
[52:05] American pickup truck.
[52:07] Do you have a Do you have a photo of
[52:09] this?
[52:09] I did enhance the stereo system and I
[52:12] can't wait to see what it sounds like.
[52:14] Um, and I got a camera thing installed
[52:17] on it like so I'm always recording
[52:19] camera.
[52:21] Uh, and I got the I want to say bed
[52:24] liner but it's not a bed liner. like I'm
[52:25] not going that fufu. I just got the
[52:27] cover because I do feel Jordan that
[52:29] there's times like when I bring my kids
[52:30] to camp I got to like put their luggage
[52:33] and stuff in a protected area and like
[52:35] Yeah, you have to have something to
[52:36] protect from rain when you do that
[52:37] trunk. Does that does that make me does
[52:39] that make the truck like less legitimate
[52:42] that I have the cover on in terms of
[52:44] pickup culture?
[52:46] I have taken a stance on this. Um I'm
[52:48] not against bed covers. I choose,
[52:51] however, to leave mine open and then
[52:53] when we go on vacation, I use a bed bag,
[52:57] like a waterproof bed bag.
[52:59] Wait, what is that?
[53:01] It's like a bag you put in the back and
[53:03] it's zip, waterproof, and you shove your
[53:06] Yeah, but somebody can still steal
[53:08] what's in there. That's the problem.
[53:09] No, you take them out when you when you
[53:12] go wherever you're going.
[53:13] No, but I don't want to have to take
[53:15] like the camp uh you know to trunk and
[53:18] stuff. Yeah. Look, I'm not against the
[53:20] bed cover. I think it's great. Um,
[53:23] so you don't think it like reduces the
[53:25] the country pickup aura of the truck
[53:28] like like
[53:29] anybody puts covers or does something?
[53:31] Why don't Why don't you just stop trying
[53:33] to pretend that you're a country bumpkin
[53:36] Ford driver and get a Cyber Truck where
[53:38] you just push a button and you have a
[53:39] cover when you want it and it goes away
[53:41] when you don't want it?
[53:42] Because I because it's in my soul, Dave.
[53:45] and and and and I'm telling you, I've
[53:47] never felt more at home than when
[53:49] driving this truck. And I and
[53:51] Do you listen to country music while
[53:52] driving the truck?
[53:53] Exclusively
[53:54] with a with a cowboy hat and like a
[53:57] uh and I have my Sam Barber on. And
[54:00] yeah, dude, it is exclusively,
[54:03] you know, I love country music, dude.
[54:04] I don't know. I don't know if we can
[54:05] hang out anymore, actually.
[54:07] Dude, trust me, when I'm gonna take you
[54:09] to lunch,
[54:10] I will take
[54:10] I exclusive listen to rap in my uh
[54:13] pickup truck. I will take you to lunches
[54:16] and weird podcast
[54:17] in my F-150 and you are going to be
[54:20] blown away. It is an awesome
[54:23] I haven't seen a picture yet so I don't
[54:25] pick or it didn't happen.
[54:26] Speaking of weird podcasts, this podcast
[54:29] has fallen into the zone of do we even
[54:32] realize that you're recording right now?
[54:34] Did you know that people that that more
[54:36] than almost 6,000 people are watching
[54:38] this live?
[54:39] This is the genre, by the way, of
[54:41] podcasts that I listen to are just
[54:42] random people. So, if you think
[54:44] Why don't we just do more of this? I
[54:45] don't need to talk about stocks,
[54:47] dude. If you think this is weird and
[54:48] we're not going to say any names right
[54:50] now because it's all under NDA and
[54:52] stuff, but like, you know, outside of
[54:55] the Dumb Money spin-off show, which I'm
[54:58] ridiculously hyped about and I cannot
[55:00] wait to share with the community that's
[55:02] launching later this year. Um, as part
[55:05] of that, uh, I'm basically spending the
[55:08] next five years of my life,
[55:11] uh,
[55:13] developing
[55:15] Gen Z, we'll just call it Gen Z, the
[55:18] hopefully the next big Gen Z women's
[55:22] podcast show, right? And like so many
[55:25] crazy ideas. We have landed who I
[55:29] believe is the number one talent solo
[55:35] content creator, 20some year old woman
[55:38] content creator in the world to develop
[55:41] her podcast and I could not be more
[55:45] excited about it. And as you guys know
[55:48] what I spent 20 years studying
[55:51] youth culture and studying
[55:53] know more about women's shoes than
[55:54] anyone I know. I know way too much about
[55:56] this world. Like, no one else is
[55:58] watching, no middle-aged guy is watching
[56:00] Love Island for like to for culture
[56:03] alpha than [laughter]
[56:05] I really need.
[56:07] I look I had the talk with my daughters
[56:09] yesterday
[56:11] that if they see something that's like
[56:13] new and up and coming, if there's like a
[56:14] makeup trend, if there's this or that,
[56:16] they need to tell me,
[56:17] especially if it's something you have to
[56:19] buy.
[56:20] You you know the way I feel about this.
[56:22] I think in this AI world, there is going
[56:25] to be such a thirst for actual raw
[56:29] human, like the most human of human
[56:32] personalities and voices. Those rare
[56:35] personalities that are just so um
[56:38] relatable and human that you just like
[56:41] it's the opposite of AI, right? It's
[56:43] like the one thing that AI can't yet
[56:46] fully deliver. And I think there's going
[56:49] to be a meaningful push for that
[56:53] connectivity to those humans that are
[56:55] truly special. And I think over the next
[56:59] few years, we're going to see some of
[57:01] these podcasts with great personalities
[57:04] blow up. And
[57:06] no, absolutely.
[57:07] I I think the biggest
[57:08] the biggest opportunity for this is
[57:10] going to be uh in women's podcasting
[57:14] because here's the deal, guys. Women
[57:17] hate friction. So, you know, making that
[57:21] transition to being a solo Tik Tocker to
[57:23] a podcaster, there's cameras, there's
[57:26] equipment, there's there's crews,
[57:29] there's editing, there's clipping,
[57:32] there's like so much to be intimidated
[57:34] by. And women historically, because
[57:36] we've worked with so many women
[57:37] entrepreneurs over the years, they are
[57:39] more riskadverse than guys. So, do you
[57:41] know 70% of podcasts are men's podcasts?
[57:44] And I think there's just a massive
[57:46] opportunity in the market and I think we
[57:49] found the number one talent in the world
[57:53] and I just can't wait. Like we'll we'll
[57:54] talk about this later this year too. Um
[57:56] we can talk about it but I think it's
[57:58] probably uh to her benefit that
[58:02] there's not much crossover between this
[58:04] show and her show. I'm pretty sure that
[58:07] us talking about the show would make her
[58:09] audience hate us.
[58:11] Yeah. Yeah. We we might never talk about
[58:12] it because I I I I agree like like
[58:15] there's literally no association between
[58:19] the two worlds. But I think in terms
[58:21] like I just like to I just like to talk
[58:23] about as a social orb investor,
[58:25] our minds are always focused on where
[58:28] the opportunity is, right? Like where is
[58:30] the and that's why I'm sharing this with
[58:32] you guys because it doesn't always have
[58:35] to be
[58:36] in public equity markets. You might
[58:39] identify opportunities in life and be
[58:41] like, "Hey, this is a massive
[58:43] opportunity." This like the same way
[58:44] that I started Collecticon what, six,
[58:46] five and a half years ago, five years
[58:48] ago. There was no publicly traded
[58:52] company that I could, you know, trade
[58:54] off that off that thesis that I had on
[58:57] nerd culture and Pokemon. I had to start
[59:00] Yeah.
[59:01] a Pokemon trade show. And it became this
[59:05] insane thing, like insane global show in
[59:07] 20 cities. And like I want everyone
[59:10] watching the show to realize, yeah,
[59:13] sometimes what you see will result in a
[59:15] trade. Other times it might result in
[59:17] you starting a business. Other times it
[59:19] might result in you actually like
[59:21] changing your career trajectory because
[59:23] you're like, hey, that's where all the
[59:26] opportunity is right now. And I think as
[59:28] you start to train your mind to be a
[59:30] social arb investor, it has implications
[59:32] for more than just trades you'll make in
[59:35] the stock market. So, and by the way,
[59:37] the Dumb Money spin-off show is is a
[59:40] direct result of this. Like, it's where
[59:43] we see culture headed to. Uh, it's where
[59:46] we see the opportunity the next five
[59:48] years. It's where we see the bulk of
[59:51] younger investors spending their time
[59:55] and like where what they're thinking
[59:58] about even more than just trading public
[01:00:02] equities. That's all I'll say. Uh
[01:00:05] we're excited about it.
[01:00:09] Dave, are you working on the studio by
[01:00:11] the way? Are you working on like our
[01:00:12] studio thing? Like actually figure out
[01:00:14] how to pull that together. I mean I I
[01:00:17] have chatgpbt doing its very best
[01:00:19] mockups.
[01:00:20] No, but but can do like should I put it
[01:00:23] into codeex and say okay now that if
[01:00:26] this is the the best mockup once you get
[01:00:28] done with it can you tell us step by
[01:00:31] step how to actually make this happen
[01:00:33] based on the dimensions of the studio
[01:00:34] and like how we
[01:00:35] basically I I haven't I don't know the
[01:00:37] exact dimensions and so we we need that
[01:00:40] first
[01:00:41] we do
[01:00:41] figure out if it even works in that
[01:00:43] space. It has to.
[01:00:45] I know. I know it'll work, but like is
[01:00:47] there enough is there enough space in
[01:00:49] the W? Like I know it's a long space.
[01:00:52] This is this is not uh for the show, but
[01:00:55] um I think it'll I think it will work.
[01:00:58] Okay. I I just
[01:00:59] I just need to see the floor plan again.
[01:01:01] I I'll share the dimensions. What I want
[01:01:03] to do is take it and put it into codeex
[01:01:05] and say now actually build it for us.
[01:01:08] Like literally exa tell us exactly what
[01:01:12] to buy. tell us exactly how to do this.
[01:01:16] Like like the the walls that you have
[01:01:18] like those crazy walls like
[01:01:19] Yeah, glass walls.
[01:01:22] I don't think they need to be glass. I
[01:01:23] think they filmed.
[01:01:24] No, it Yeah, it doesn't. It's not glass,
[01:01:26] but it looks like glass.
[01:01:27] Yeah.
[01:01:29] So, oh, by the way, I saw a there was a
[01:01:31] tweet today that I thought was really
[01:01:35] prolific as it relates to AI. Like we've
[01:01:37] been preaching over and over again,
[01:01:39] guys, you have to pay attention to what
[01:01:41] people are actually uh doing with AI.
[01:01:45] Um, hold on. I saved it. How do I go to
[01:01:48] the to the ones that I bookmark on here?
[01:01:52] Damn it. Like
[01:01:53] you click on the thing that looks like a
[01:01:54] bookmark,
[01:01:56] but they
[01:01:57] history, I think, is what I
[01:02:00] Wait, hold on. Hold on.
[01:02:03] Oh, here it goes. Okay, there's this guy
[01:02:05] Gail
[01:02:07] Sherro, G- A L S H I R A R T, and his
[01:02:12] tweet was, "It's over. This is a big
[01:02:15] designer. It's over. I'm quitting
[01:02:17] design. Uh, a client of mine, or I guess
[01:02:20] he has a design firm, a client of mine
[01:02:22] just created a logo with Fable 5, and
[01:02:25] the result left me speechless. It
[01:02:28] understood the brand story, values,
[01:02:30] audience, strategy, and turned all of it
[01:02:32] into a smart, minimal symbol. A
[01:02:34] genuinely brilliant concept. The kind of
[01:02:37] idea that captures everything at once.
[01:02:40] Something I honestly don't think I would
[01:02:42] have come up with myself. And it didn't
[01:02:44] just nail the idea, it executed the
[01:02:47] design pixel perfectly. So, I raised the
[01:02:50] white flag. My skepticism about AI's
[01:02:54] ability to do great design is officially
[01:02:57] gone. There I said it. AI beat me at
[01:03:01] design. Now that AI finally took my job,
[01:03:05] I can peacefully quit and dedicate my
[01:03:07] life to studying the only thing it may
[01:03:09] never achieve, human consciousness and
[01:03:13] the pathways to God. Good luck everyone.
[01:03:16] And people thought that he said this
[01:03:18] like as a joke and he kind of reaffirmed
[01:03:22] multitude of times in the comments of
[01:03:24] this thread that is not a joke. He's
[01:03:27] being dead serious. He has 111,000
[01:03:30] followers on X. He's a retired designer
[01:03:34] uh and he's now making art and studying
[01:03:37] human consciousness. These are the types
[01:03:40] of post that as an investor you need to
[01:03:45] pay attention to. Okay? These are the
[01:03:49] gamechanging moments that you look at
[01:03:52] this and you start to realize, not that
[01:03:54] we don't believe it's real, how
[01:03:56] prolifically real AI is. Okay? Because
[01:04:00] again, there are two sides to this story
[01:04:04] of how AI is going to play out, what
[01:04:06] it's actually capable of, the
[01:04:07] efficiencies and the productivity that
[01:04:09] it's actually capable of bringing and
[01:04:11] how far off that actually is. This is
[01:04:14] what I'm talking about, guys. Like, you
[01:04:16] have to be in tune with this. This is a
[01:04:19] really big deal. like that. That post to
[01:04:21] me is a really big deal because the one
[01:04:23] thing that so many people have been
[01:04:25] saying is that AI does not understand
[01:04:29] nuance. It doesn't understand taste.
[01:04:33] Okay? And what this guy is saying is no,
[01:04:35] no, no, no, no. He's a lifelong
[01:04:37] designer. It just replaced me. It's one
[01:04:40] guy's opinion, but you have to pay
[01:04:42] attention to this stuff if you want to
[01:04:44] be if you're investing aggressively in
[01:04:46] the AI sector, you have to have
[01:04:48] conviction. And the only way that you're
[01:04:50] going to truly have conviction is by
[01:04:52] understanding the people that are using
[01:04:53] AI and how it's evolving like week over
[01:04:57] week. And this Fable deal, guys, it's
[01:05:00] kind of crazy. Like the stories I've
[01:05:01] been seeing on Fable.
[01:05:03] Yeah, it's it's wild.
[01:05:04] It's crazy that we need we need to get
[01:05:06] Fable on our uh new podcast so we can
[01:05:08] figure out the format of the show
[01:05:11] and the nuance that that we're we're not
[01:05:13] smart enough to figure out.
[01:05:15] I know. I know. All right, guys. Uh
[01:05:19] Enjoy your summer, guys. Like I said,
[01:05:21] don't get caught up in the noise.
[01:05:23] You're saying it as if we're done for
[01:05:24] the summer. No, we will still have
[01:05:26] shows. We're just uh and probably won't
[01:05:30] have one next week.
[01:05:31] Yeah, we'll probably have one next week
[01:05:32] for sure.
[01:05:32] But we'll be doing it from our summer.
[01:05:34] Yeah,
[01:05:35] you will definitely see waves behind me
[01:05:37] in our next episode.
[01:05:39] Dude, can I do can I show you how nice
[01:05:41] this be? Wait, wait, before you tune
[01:05:42] off, I just got to show you guys the
[01:05:45] beach here is at Rosemary. And yeah,
[01:05:48] this the sandals are still happening
[01:05:49] here. Uh
[01:05:51] oh, that's a live picture from outside
[01:05:53] of your room.
[01:05:54] Hold on. Hold on.
[01:05:58] Dude, I think my kids might still be in
[01:06:00] bed at like noon. Look, look at how nice
[01:06:04] of a day it is. This is Rosemary Beach.
[01:06:07] First of all, I cannot believe you did
[01:06:09] the entire show from a generic like
[01:06:13] prison looking room when you had that.
[01:06:16] That is a perfect ocean right there,
[01:06:19] guys. That is a perfect ocean that I
[01:06:22] will be swimming in in about five
[01:06:25] minutes from shutting this show off,
[01:06:28] [laughter] dude.
[01:06:29] And that's our cue. You hit you hit the
[01:06:32] beach. Wear your flipflops. Uh we are
[01:06:34] done, Money. We will see you very soon.
[01:06:37] [music]
[01:06:47] Yeah. [music]