Hi, I'm Josh Brown. Welcome to Live from the Compound.

Recently, a very famous well-known permabare decided to take a victory lap on his 23-year call to not be invested in equities or to downplay.

Strategically underweight.

Strategically underweight equities.

And obviously it's the most ridiculous thing you've ever seen and heard.

We're going to get into this concept that somebody could be this wrong and still find a way to use data and say that they were right.

Mike, we're not going to name names today. We're going to be gentlemen. However, I was pretty offended reading about the

permabare who's been strategically underweight stocks for 20 some odd years and

thinks it was a good decision and thinks that people would have benefited by

listening.

How was this particular victory lap able to have been taken?

What games are being played?

Well, the problem with this is that he says that he's

been he said quote my consistent Uber bullishness on Western government bond markets never seems to attract as much attention as my extreme bearishness on equities.

So he's been saying buy treasuries and global sovereigns and be short or out of stocks.

And he wants credit for the long bond call.

Yeah, but the problem is, first of all,

there's a lot that goes into a 23-year call.

You know what I mean?

Like nobody lives in 23-year periods.

Nobody woke up 23 years later after

listening to him and says stupidest than ever but so the point is like there's

...