Welcome to another episode of the Chicks on the Right show.

We have our special guest friend and sponsor of the show,

Zach Abraham from Bulwork Capital Management with us and it's a very

we live in interesting times Zach as I sure you know. That's a good way to put it.

And today there was a recently there was this article on the Daily Mail about a fellow by the name of Mark Spitznegel who is the president and CIO of universal investments and he is like Mr. Doom and

gloom man in this article saying that we should basically be all like holding on to

our hats because there's going to be a crash and I want to know your take about that.

Well, so Spitznagel is one of those guys that I don't think that you brush off.

There's a lot of guys that talk a lot in this industry and it's as much marketing or maybe even more marketing than it is substance.

He is not traditionally one of those guys.

So I definitely think he's someone to listen to.

Look, and you know, this is something that we've been trying to talk to our clients about and I think it's really hard for people to understand because, you know, markets keep going up and, and, you know, greed or missing out on potential gains gets people do a lot of stupid stuff.

But the bottom line is that you have big swaths of this market and the parts of this market

that have really driven the market.

They're just really disconnected from any sense of risk or

any sense of underlying fundamentals. They've got priced into them just

complete optimism. Again I've said over and over it is not the same as 99, right? The difference

being that I think a lot of what's driven this is you have really good companies that

are just evaluations that don't make sense. So the companies are really good. There's no knock on them, but remember at the end of the day, you get into these

periods of times where a business pays you, if you invest in a business, you get paid by profit, right?

And if you pay too much for that business, it takes you way too long to get your money back, right?

Because investors, technically speaking,

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