Hey, it's Kramer, and this is my morning take on the market from today's CBC Investing Club morning meeting.

But I do want to point out that the profound decline transports, banks, some restaurants we're going to get to,

tells me that there is something awry.

I don't know whether it's the weather or not.

It's hard.

I'm going to rely on Texas Roadhouse tonight to figure it out.

Yeah, I was going to bring up the last retail sales report was also pretty weak.

And then as we look at Texas Roadhouse and their earnings,

the fourth quarter was great.

Right? You had a same store sales beat, very strong earnings beat, really strong.

And then, but when they talked about how they're doing in Q1, it's off to a noisy start.

Some of it is related to calendar shifts. We explained it all last night. But January, they were

impacted by snow closures. But then February, just really challenged flat comps. And again, mostly... It's very unlike... It's freezing outside. Yeah, no, I mean, we waited... I mean, we started buying Texas restaurants going out. It's so rarely down. And I feel, well, it's down. Everyone has a beat on what's going on. They did. It's pulled back around 18% from the high to... Yes, but I very much want to buy it. Now, I want to hear obviously what they have to say tonight. But on the

conference call, I'm a believer in their thesis that it's weather because they are solid guys

that were in... They were asked about this endlessly in the call. Yeah. I mean, look, Q4, strong

consequence. Fantastic. Seven percent. Fantastic. And the cadence mean, look, Q4, strong comps against 7.7%.

Fantastic.

And the cadence month by month pretty consistent.

January comps 5.5% despite impacts from snow.

There's also some timing related things as well.

But then again, I mentioned February.

So they're dealing with some temporary headwinds here, maybe creating a long-term opportunity.

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