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Get Ready For The BIGGEST Economic Boom Of Your Lifetime! — Transcript

by Felix Nikolas Prehn · 4,868 words · 683 segments · language en · Watch on YouTube

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0:00The biggest rally of our lifetime may
0:02have just started this week. That's what
0:04Winston just told me. And it is set off
0:06by the one thing everybody was told
0:09would crash the stock market. For
0:11months, people had warned that this
0:13exact election result, a Democratic
0:16sweep would wreck voices and stocks. So,
0:20they sold. They went to cash. And 90% of
0:24them are now sitting there waiting for a
0:27crash. Well, that hasn't really come.
0:29unless you're one very specific sector.
0:30And this has happened seven times since
0:331954. If you've been watching me, you
0:35already know about this. A Republican
0:38president loses both halves of Congress
0:41to Democrats. A year later, every single
0:44time stocks were higher and this week
0:48made it the eighth. Wall Street knew the
0:50Dow has had its best day of the year,
0:53but the market does not go up as one.
0:56And maybe some of you are in pain. If
0:57you're in pain right now, put pain in
0:58the comments down below. It's all your
1:00fault, but we'll fix it for you. Because
1:02while the Dow threw its party, one
1:05corner got hammered and the stocks
1:07everybody had piled into for the last
1:09two years dropped under a line that the
1:12pros watch harder than almost anything.
1:14Now, the next thing is annoying, but I
1:16was positioned for that before the votes
1:18were counted. I will pull up all of this
1:20life in a minute, including how far
1:22stocks ran those seven previous times.
1:26So stick with me. This one really,
1:28really does matter. My name is Felix
1:30Nicholas Pin. I'm an economist and
1:31former investment banker. I'm also the
1:33founder of the PIN Institute where we
1:34publish research on financial markets
1:36and also instructions on on how they
1:38actually work. I take zero sponsorships,
1:41zero endorsements ever. So I can say
1:43whatever I like and that's just the way
1:45I like it. And no, this is not a
1:47political video. I get accused of that
1:48all the time. I don't care who you voted
1:50for. Red, blue, green, yellow, whatever.
1:53It's fine by me. Your money doesn't have
1:55a party and it shouldn't. So, there's a
1:58lot of stuff that's moving this week.
2:00Very, very important to understand the
2:02election, oil, the chip stocks, gold,
2:04the lots. I put all of that research
2:06behind this video into one free report
2:09from our institute. It's got the full
2:11table of those seven elections with what
2:13stocks did one month, three months, six
2:16months, 12 months later, the sectors
2:18that have tended to lead after midterms,
2:20the ones that have lagged, a checklist,
2:22tons of stuff. It's all free.
2:24felixfriends.org/boom
2:26is where you get that. It's down below
2:28in the description in the link as well.
2:30And I absolutely love that you're
2:31watching this because I love people who
2:32want to learn about how the markets
2:34really work because in my humble
2:35opinion, it's the path to freedom. So,
2:38let's start with the bit everybody gets
2:40raw. For most this year, you couldn't
2:42open up social media without someone
2:43telling you the stock market would
2:45crash. I may have been guilty of that
2:47once or twice myself, but once you make
2:48it past the headline, you'll understand
2:50what I'm actually talking about. If the
2:52Democrats took Congress, people were
2:55saying this, and I saw one post this
2:56week that put it perfectly. Somebody
2:58wrote out this line, "The stock market
3:00will crash when Democrats are elected."
3:02And underneath it, it said the market,
3:05and it showed a chart of a dollar
3:06invested in American stocks since 1926.
3:09Well, have a look at the red presidents
3:11on this chart. It's on the screen here.
3:13Blue president. And what happens? Well,
3:15the line just goes up and up and up and
3:19up. Nearly a hundred years of it.
3:21Then the results came in. Democrats took
3:23the House and the Senate. And the next
3:25day, the Dow Jones, which tracks 30 of
3:27America's biggest, oldest, shiniest
3:30companies, went up 3%. That's 1500
3:33points. Best day of the year. The S&P,
3:36America's 500 biggest companies, went up
3:391.6%. And the NASDAQ, which is stuffed
3:41with those technology companies, was up
3:431.4%. So, who got hurt? Well, not the
3:47people who did nothing for once. The
3:49people who got hurt are the ones who did
3:51something. They sold in October and they
3:53went into cash because they got scared
3:55and now they got a terrible choice. Buy
3:57back in higher or sit and watch. There's
4:00a second group that also got hurt and
4:02they don't even know it yet. Say you're,
4:04you know, 50 years old. You did
4:06everything right. You put your money in
4:07a big fund years ago and you got on with
4:09your life. You worked hard. Well, look
4:11at your fund this week and it probably
4:12looks fine because the index went up,
4:15but underneath it was carnage in places.
4:19Energy stocks down over 6%. This is a
4:21sector rotation thing you can track in
4:23the Winston app. Links down below, free
4:25trial and all that you don't like if you
4:26cancel it. So, the chip stocks also fell
4:30through a line the professionals treat
4:32as the difference between an uptrend and
4:35a downtrend. And I put it on the screen
4:37here for you. This is SMH, which is the
4:39semiconductor index fund. the sort of
4:40major one and there's the line on here
4:42which is blue right and I have to check
4:45the glasses make it green and um it's
4:47it's my version of you know LSD it's
4:50it's it's healthier for you and um that
4:53200 day moving average line which is
4:54what that is we've just dropped below it
4:56was the last time we did that well we
4:59last did that in April 2025
5:02which was actually a pretty good buying
5:05opportunity if you go back to it right
5:06the previous time we did that
5:08meaningfully was in September mber or
5:10rather sort of early 2022, right? It was
5:13trading at 84, then it's trading at 498
5:15right now. Again, I'm not telling you to
5:17buy this. I'm just saying these little
5:18dips have historically been pretty good.
5:21Why? Because the world actually runs on
5:23semiconductors whether you like them or
5:25not. So, what went up? Well, consumer
5:28discretionary, consumer staples, real
5:31estate, financials, healthcare. These
5:34went up against more than the index,
5:36right? If you look at the absolute
5:37returns, they did even better. But I
5:39always like to go look at compare it
5:40against the index because that's kind of
5:42tells me a lot more about where the
5:43money is really flowing. But you can see
5:45some big beautiful winners and some
5:47pretty horrendous losers. But remember
5:49the market overreacts both ways every
5:52time. It overreacted to the fear in
5:55October. Some corners overreacted this
5:57week in my humble opinion. And if you
5:59can't tell which bit is the
6:00overreaction, you end up selling the
6:02bottom on the one thing and holding the
6:05top on another. And it's never really
6:06very much fun. And spotting that is a
6:08skill, a skill that can be definitely
6:11learned. So think about where that
6:13leaves you right now. Your money is
6:15sitting in a market that just changed
6:17leadership in 24 hours. Oil fell 8% in a
6:20day. Energy got thrown out of the window
6:23with a baby in the bathroom water,
6:24right? Um which is good for me because I
6:26made money out of it. But the chip
6:28stocks that carried the whole market for
6:29two years, they're like beaten up and
6:32crying in the corner. And at the same
6:34time, the shops, the banks, the big
6:37platforms that own the data centers were
6:39bid apart. I explain to you why that
6:41happened. But if your money is in the
6:44wrong pot, and these are just
6:4712 of these pots. They're actually about
6:49150 in total, but this is just a
6:51simplification. Well, it doesn't really
6:53matter how good the index looks. You
6:54lose. You lose slowly, and you don't
6:56notice until, you know, your retirement
6:58gets pushed back by a few years. In my
7:00humble opinion, the window on this is
7:02short. Look at those seven elections
7:04again in a minute and I'll and you will
7:06see the biggest part of the move came in
7:07the first three months. On average,
7:09stocks were up more than 10% within
7:13three months of that vote. I'm not
7:14promising you that I haven't got a
7:16crystal ball, but that's the historic
7:18pattern. The clock started ticking on
7:20Tuesday. Spotting where the money is
7:22going next is a skill, a skill you were
7:25never taught because school and college
7:27is largely useless when it comes to
7:29money. So, our whole mission here is to
7:33write that wrong. So, this Saturday, the
7:357th of November, I'm going to teach you
7:37live and for free. And I call it the
7:39great pivot because the money pivots
7:41from chips into something else. It's at
7:459:00 a.m. New York time, 2 p.m. London
7:47time, 300 p.m. If you live on the Soviet
7:50continent of Europe, uh if you're in
7:52Asia or down under, you're going to have
7:53to figure out what time it is. You may
7:54have to be up a little bit late and ask
7:56for parents permission. And our goal
7:58there is to leave you with a game plan
8:01for not just this market but for every
8:03market to come so that you are more
8:05skilled. Not a stock tip list but make
8:08you more skilled. So on Saturday I'll
8:11show you exactly how I worked out what
8:13was actually going to happen here. And
8:14I'm not always right. Absolutely not.
8:17But the point is not to be horribly
8:18wrong. And if you just learn that you're
8:20going to do a lot better. So join us at
8:22greatpivot.org. Link is down in the
8:24description down below. Dualingo stock
8:27is flying by the way. Apparently
8:28everyone's going to learn Spanish in the
8:30US.
8:32Uh so back to those seven elections.
8:36This is a chart from
8:38I don't know who. Um looks a bit like
8:40the FT but it's probably AI. Um it shows
8:44every time since 1954 that a Republican
8:46president has lost Congress to the
8:48Democrats at midterms. 1954 and 1958
8:51that was Eisenhower. 70 was Nixon. 74
8:54was Ford. 86 was Reagan 90 under the you
8:57know Bush the the primary uh and then
9:002006 under Bush the secondary and that
9:03happened seven times. So it also shows
9:04what the S&P did afterwards. That's what
9:06these little bars are. One month later
9:092% up on average. 3 months later 10% up
9:13on average. 6 months later 17% up on
9:16average. And a year later 15% up on
9:18average. Positive all seven times. And
9:21that's pretty extraordinary, isn't it?
9:2315% in a year on average after the exact
9:25results that some of you are celebrating
9:27and some of you are terrified of
9:28depending on what side of the aisle you
9:30happen to wake up. And Trump is now the
9:32eighth president on this list. And it
9:36isn't just me putting this out. JP
9:38Morgan, the mighty, their market
9:40intelligence team, which apparently is
9:42the most intelligent team in the world.
9:43Just ask them, they'll tell you. They
9:45put out a note this week and they say
9:47the S&P 500 has been up a year after
9:49every single midterm election since
9:511950. who ever won with an average gain
9:54of around 15% which is what I just
9:55talked to and since 1990 they've broken
9:58it down even further. Here it is three
10:00months after the midterms 5% up six
10:03months after 11% up 9 months after 12%
10:06up a year after 14% up and so on. So
10:08it's been up every single time since
10:101990. So why why would Wall Street cheer
10:14a government that can't agree on
10:16anything because that's what's going to
10:17happen. But let me put it in in in in as
10:20plain English as I can. When the White
10:22House and Congress are run by different
10:24parties, almost nothing big gets done.
10:28Taxes stay where they are. Regulation
10:30doesn't really change. It's like having
10:33well gridlock. And guess what? The
10:36market loves gridlock. The more
10:38gridlocked your government, the better
10:40the stock market. Why? Because it's
10:41predictable. We know nothing big's going
10:44to happen. No bright shiny ideas, no
10:47new, you know, let's save the world type
10:49things. Um, wonderful. If you're an
10:51investor and maybe you think it's
10:53terrible because you really wanted your
10:54party to do something particularly
10:56special, but you know what? The stock
10:58market, your money doesn't care for
11:01special or any kind of change. The right
11:04now the constant is just about good
11:06enough. Now, is there an exception to
11:08this? Yes. Ford 1974, we were down 10
11:11months 10% a month later, 18% up a year
11:14higher. Why? It was high oil and sticky
11:17inflation. And there's of course some
11:18parallels to what's happening in the
11:20Middle East there. So pay attention to
11:21that. And Reagan just did a well it was
11:24up a percent later because we had the
11:261987 crash. So this does not say be
11:30blind everything is going to go up in a
11:32straight line by the way. Right? Always
11:34invest and trade with a plan. But let me
11:36just break down one or two more of these
11:39rotations because it's so important that
11:40here's that table again I was just
11:42showing you. And it's really really
11:45personal to you and your portfolio
11:47because the market is not one market. It
11:50doesn't go up as one. Right? Look at the
11:52sector rotation again. It splits the
11:54American stock market into its 11 big
11:56sectors and it shows which ones are
11:58leading and which ones are lagging. And
11:59I've got it set to just one day last
12:02day, right? Day after election. And I
12:05compare it against the S&P 500 here. And
12:09energy went down over 6% against the
12:11market in the singleton. So the energy
12:13sector, which is an index fund called
12:15XLE, fell like just under 5% that day.
12:18The S&P went up 1.5% that day. So, you
12:21know, there you are. Industrials were
12:23down, technology was down, utilities
12:26were down. Meanwhile, the money poured
12:27into shops, restaurants, consumer
12:29discretionary, the stuff people buy when
12:31they feel good for the same day, same
12:34market, and the gap between the best
12:36sector and the worst sector was almost 9
12:38percentage points. And that's what I
12:40mean when I say money doesn't leave the
12:42market. It moves from one pot to
12:44another. So, why did energy get hit so
12:46hard? Well, oil Brent crude the global
12:48oil price fell 8% in a day. Why? Because
12:51people will think that Trump has less
12:55backing to continue the Middle East war
12:58because he has just less sort of
13:00political cloud right now, right? And
13:02here is that actual chart and you can
13:03see the the harsh pullback. You can see
13:06this consumer discretionary which is
13:08absolutely flying. So, what did I do
13:10before this election? Well, I was short
13:12energy and I was long most other things.
13:14Uh, doesn't really matter what I do, but
13:17maybe take a screenshot of this one here
13:19because this is actually quite
13:20important. A year after midterms, again,
13:23this is JP Morgan data, you know, hail
13:25the the mighty uh and and all that.
13:27There really are wonderful people, the
13:29best people in the world. Absolutely.
13:30You know, cure cancer and everything
13:32else that just in it for the little man
13:34and then saving humankind and you know,
13:36that kind of thing, which probably makes
13:37me get away with using that charts. Um,
13:39so yes, the index did well, 15% up
13:43almost on the year, but look at consumer
13:46staples. They were down 8% on the year.
13:47Energy was down 5% on the year. Real
13:50estate was down 6% a year. Utilities
13:51went on 8% on the year. So, it wasn't
13:53bloody equal, was it? It wasn't all the
13:55same. So, if you potentially want to
13:58outperform, you might need to understand
14:00at least these 11 sectors and what it
14:03moves them and why. I think oil is
14:05really the one to watch. Let's see what
14:06the American buildup in the Middle East
14:08is doing, whether we're going to see
14:09another, you know, bombardment or
14:11whether it's the final fireworks or or
14:14whatever. We'll see. And that'll
14:15obviously have an impact. But if you are
14:18like many people just purely in chip
14:21stocks, and this popped up in my Twitter
14:24feed, and I don't know who this guy is,
14:26no diss him whatsoever, but he says, "We
14:29are effed. Absolutely effed. The AI
14:31trade is over. We all top blasted and
14:34holding bags now. I can't believe it.
14:35How could we have been so wrong? This
14:37market makes no sense. My spleen hurts.
14:39I haven't seen green in such a long
14:41time. I miss money. I miss smiling. I
14:43miss sleeping, not checking my phone
14:44every one minute. I miss waking up
14:46happy. I should have stayed in cash. Um
14:49the problem is that this chap
14:51unfortunately gives you real-time
14:52alerts, those trades, and presumably
14:54there's a payment for that. the delight
14:57and and I guess imagine that this is his
14:59portfolio yesterday which is basically a
15:03pure bet on pure AI, right? Which is
15:09just unfortunate. I feel very sorry for
15:12the chat, but he doesn't realize that
15:15there is a world out there that isn't
15:18AI. He doesn't realize the healthcare
15:20stocks, real estate stocks, consumer
15:22staple stocks, material stocks, really
15:24boring crap that would have shielded him
15:27from this horrible thing that's now
15:28making him lose sleep. And my goal is
15:31that less and less people will make
15:35those mistakes because yes,
15:37semiconductors got clobbered like a baby
15:40seal. That's a professional Wall Street
15:42term by the way, not mine. It's a very
15:44nice term, is it? Um but um if you bet
15:48all your money on one thing and if
15:50you're feeling some pain right now, use
15:52it as a lesson. Use it as a motivation
15:54to not do it again. Because this chap I
15:57just showed you clearly hasn't learned
15:58the lesson because he then rambles on
16:00about how hedge funds manipulate the
16:03market and and and you know all that
16:04sort of stuff. Doesn't for a second
16:06think that he might have a skill gap and
16:08that he's actually to blame for it.
16:10Right? I'm always to blame for all my
16:12losses. I'm also to blame for my
16:14winners. And it's the same for you. If
16:15you want to take credit for the winners,
16:17you need to take credit for the losses.
16:19And if you have outsized losses, and
16:21outsized simply means you are checking
16:23your phone every 5 minutes, you're not
16:25sleeping well, you're thinking about it,
16:26and you're not a happy person, you've
16:29got too much risk on, right? So, we need
16:31to do something about that. So, come and
16:32join us on on on Saturday and we'll
16:34we'll we'll fix that for you. And quite
16:37honestly, I think we're nearing a point
16:38where semiconductors are becoming an
16:40opportunity again and I will I will
16:42then, you know, buy them again. um not
16:44quite yet but I will at some point. But
16:47the real play, this is really what I
16:49wanted to understand is there were a lot
16:51of stocks that did really well in the
16:53last day. And who was it? It was Amazon.
16:56It was it was Google. It was um
16:59Microsoft. Why? Because these are the
17:02guys with the biggest data centers on
17:04the planet and they're already built.
17:06They've already got power. And if we're
17:09now entering a world where US now
17:12democratic states like Texas will say,
17:15"No, we're not going to build as many
17:16data centers because we're short of
17:17electricity or whatever." Um, then who
17:21benefits from this? Well, these guys
17:23effectively become monopolies. And all
17:26these neoc
17:28companies and the memory and the chip
17:30guys and so on, they love less demand.
17:32But it also means if you're Microsoft or
17:34Amazon or Google, you can now justify
17:37spending less on chips and memory and
17:39data centers because they can't get
17:41build. But you're still the guy with the
17:43biggest, you know, data center. That's
17:45what you're thinking, isn't it? Um, and
17:47and therefore, you win, right? It's
17:49actually brilliant for them. So, if you
17:51were Microsoft or Amazon or Google, what
17:53would you have done? You would have
17:54funded the Democrats in Texas to your
17:57heart's content, right? I don't know if
17:59they did that, but that would have been
18:00the smart thing to do from a pure money
18:01point of view because Texas really
18:03matters. Texas has 27% of all planned
18:06American data center capacity, says
18:08Wellelss Fargo, who also getting
18:09clobbered to death yesterday. The new
18:11governor said, "We're going to have a
18:12moratorum, which is a fancy word for we
18:15will all die." No, it's a fancy word for
18:17uh we will freeze everything and not
18:20approve another one. They also want
18:22Georgia, Ohio, and Pennsylvania
18:23apparently, and they'll do the same
18:25thing there. So Microsoft up 6%, Amazon
18:29up 6%, Alphabet up 3%, Meta up 1%. These
18:32guys win, chip suppliers lose, the
18:34builders lose, Coreweeef, Nebus, Irene,
18:37all these, you know, these companies are
18:39amazing. Now some of those companies, if
18:41you go back into them, they used to mine
18:43cryptocurrency about 18 months ago and
18:45before that it was whatever the latest
18:47thing was. So always be a little bit
18:48careful with companies that chase after
18:49the latest thing. So some beautiful
18:52charts here on on on some of the big
18:54tech guys. Um but the chip guys will
18:57have to adjust potentially their their
18:58future because the chip orders will get
19:01spread over a longer period of time
19:03which will slow down uh their their
19:04growth and and neoclouds
19:07um well I've warned about that
19:09previously. Uh it's a not where I would
19:12put my money. Core we here uh I I trade
19:14it sometimes. I make money out of it
19:16hopefully. But yeah now there is
19:20something that is important. The market
19:22overreacts. So
19:25always look at if you want to trade
19:27something like that which is the least
19:29and and the most risky and again that's
19:31one of the things we look up in the in
19:32the Winston app. So so if you go into
19:34stocks look at look at are there any of
19:36those in the danger zone and you can go
19:39into hey say AI infrastructure and you
19:42can look at there are some zombies here
19:44call is is a zombie company. What do I
19:46mean by that? Well they've got no cash
19:50they can't pay their interest. They owe
19:533.7 times the value of their company as
19:56debt, right? So, yes, they've got a bit
19:58of cash in the bank, three billion or
19:59so, but that's going to likely run out.
20:02So, these companies are the riskiest out
20:05there that I would be very, very, very
20:07cautious of. And I would look that up
20:09actually for every sector and every bit
20:11of something that you own because it's
20:13important. Again, link down below. Now,
20:15quick word on gold. Gold's at the lowest
20:18price more or less in a year. Um, I'm
20:20quite liking it. Why? Because we've had
20:23some serious margin calls on gold. And
20:26the more Let me pull up a gold chart for
20:28you. And the longer you get these
20:31sell-off periods, people get flushed
20:33out. So, we started to see the last two
20:36days here a little bit of nibbling 3%
20:391.7%
20:41um on on on gold again on some
20:43relatively decent volume. biggest green
20:45candle we've seen since uh you know a
20:48while since sort of August which was a
20:51mini sort of fake breakout there. So the
20:54longer these sideways journeys go on for
20:58right the longer we do bugger all
21:01essentially the better the setup because
21:04the people with we wanted to sell
21:06already sold right last year that was
21:09the setup right so we're now looking at
21:11a period that is actually equivalent in
21:14terms of length I hope it goes further
21:17and more sideways for longer because
21:19that will then potentially set up a much
21:21much bigger more beautiful more shiny
21:23any breakout and gold breakouts are very
21:25very shiny. Commerce Bank pay no
21:27attention to the lunatics say gold's
21:29October reaction was overdone. Now I
21:32would trust Commerce Bank about as far
21:34as I can throw them. I imagine they're
21:35fairly heavy. Um but how does a margin
21:38call work? Well, say you um borrowed to
21:41buy tech stocks and your tech stocks got
21:43clobbered yesterday and they're down
21:4410%. Your broker says, "Show me the
21:47money." And you haven't got any. So your
21:49broker will then say, "Well, sell
21:50something or we'll do it for And one of
21:52the things that's the fastest to sell,
21:53especially on a day like yesterday, was
21:55gold because it was going up. So margin
21:58calls are a beautiful thing if you're
21:59not on them. But this is a lovely chart
22:01here and we should credit whoever made
22:03it. Uh, whoever Peter Malucas, good on
22:06you. Well done on the chart. It's a very
22:07good chart. And he said of the last 50
22:09years, inflation
22:12was 6x. I think it was a lot more, but
22:14that's the official government lie,
22:16sorry, number. Um, treasury bills went
22:18up eight times. The S&P 500 went up 277
22:22times. So being invested is the winning
22:25path. Now being invested better is
22:28better than being invested terribly. So
22:31think about that like that poor chap um
22:33who is you know losing sleep right now.
22:36So be an owner. That's what I would
22:40definitely say. And
22:43just to summarize why I think this is a
22:45wonderful setup, the divided government
22:47keeps rules steady as in bug is going to
22:50happen in Washington next two years. Uh
22:52oil could drop a lot if the appetite for
22:57bombing another Middle Eastern country
22:58into the dust uh is is a little bit
23:01less, you know, pronounced. And
23:04historically, the pattern is that we get
23:05very very strong years after this kind
23:07of election which you may love or loaf.
23:09It doesn't really matter. Slight
23:11warning, and I would write this down.
23:12Funding runs out on the 11th of December
23:14for the US government. Uh, expect a a
23:16squabble or a wobble. The Fed could
23:18raise interest rates in December. The
23:20market expects it. Now, if oil comes
23:23down, that won't happen. If oil stays
23:25up, that is more likely to happen. And
23:27beyond the midterms, Congress faces
23:29converging year-end deadlines. I don't
23:31know what that means, so we'll scroll
23:32past it. And uh, yeah, chip stocks are
23:35um, under that 200 day moving average
23:37line for a reason. So, the market needs
23:38to adjust to that. I wouldn't be too
23:40early on the dip buying there. Um, and
23:42and obviously a Middle Eastern deal is
23:44isn't easy because on the one side
23:46you've got the commander-in-chief. On
23:47the other side, you have the uh um
23:50almighty himself, the the Ayatollah.
23:53Quite a hard crowd to get to, you know,
23:55become reasonable. So, put it all
23:58together, energy chip stocks are out.
24:01The MAG five or whatever they are are um
24:04are doing wonderfully. Uh, gold got
24:07dumped by forced sellers. It then
24:08bounced. I see that as a good sign. I'm
24:10hoping it's going to go sideways for
24:11longer. And I think we have an
24:14tremendous pivot in the market coming up
24:17where no, Nvidia will not go up in a
24:19straight line forever after. Um, because
24:22people will de more slowly then you know
24:24what the whole the whole growth story
24:27gets elongated. Um, not clobbered to
24:30death but just it's just more gradual,
24:32more slow, which the market has to
24:33adjust to. So come and learn how this
24:36pivots, build your game plan, spot them
24:38where the money is moving, and know when
24:40to do something about it at
24:42greatpivot.org at this s Saturday, the
24:467th of November, 9:00 a.m. New York
24:48time, 2 p.m. London time, 3 p.m. in
24:50Europe, and at ungodly hours everywhere
24:53else. The question is just whether you
24:54want to learn it. No, there will not be
24:56a replay. We don't do those because
24:57people don't watch them. It's true. I
24:59know you are one exception, but it's
25:00just true.
25:01the data. So, join us live. You can ask
25:03me questions and I'm excited to see you
25:05there. And if you got some value out of
25:07this, well, share this with a friend.
25:09Share the great pivot.org with a friend.
25:11And I wish you all the best.
25:12>> Right now, I think we're going through
25:14some sort of weird phase transition. And
25:17normally when you get bad economic news
25:20or you get bad jobs data that people are
25:22going to fly to safety into the bond

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