David trainer welcome back you've had a few recent articles on seeking Alpha talking about some ETS and sectors. How are you thinking about things? Well I think the the most

important driver really of markets these days is the Fed and liquidity. As long as we're

pumping more liquidity into the market, fiscal, monetary, whichever, I think we're going to see stocks start to just

continue to move up in the way we have and you know we're inventing new meme stocks

you know all the time you know invidia arm etc and I think we're seeing actually a bit of a

sophistication improvement I believe in our retail investing base where to be a meme stock you don't have to be a junk stock right

You know you know Walmart even taking a big run you know Walmart was a focusless stock of ours for a long time.

It got expensive.

We took it off the list.

You know, it's had a huge run-up this year.

And I think what's happening is that this liquidity

is potentially excess liquidity in a lot of individual and retail hands is getting

smarter.

I think the board apes got bored with chasing meme stocks and they said, you know, I don't

have to put my money into a junk stock that's about to go bankrupt.

Why don't I invest in Walmart?

And just take some risk all the table and do just as well probably.

So I think that that's a positive movement.

But in terms of the overall market,

I think a lot of that really just depends

on what the Fed's doing and where people see rates and what that

means about excess liquidity. It's funny because this is a lot about what you

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