What's up, guys? On this episode of Full Signal, I sat down with Doug Boneparth. He is one of the most

influential financial advisors in the country, and he's the founder and president of bona fide wealth.

In this conversation, we talk about the AI bubble, the AI trade losing momentum, and whether

the tech sell-off is anything to worry about. And we also hear about Doug's experience

mining Bitcoin in 2013. And we learn more about his new book, Money Together, which he wrote

with his wife. And it is excellent. I hope you enjoy this conversation.

Douglas, I wanted to get right into this recent sell-off in tech. What do you make of this? And do you see

this as a real deflating of the tech trade? Yeah, let's go back to 2022. What were those drawdowns

like? They were pretty harsh, right? You don't have to go too far back in time to realize that

there's going to be a lot of volatility when it comes to playing with the future, right?

And where expectations are around what AI companies are going to deliver.

And you go into 23 and 24 and even here and up until now and 25.

And you know, you just ripped your face off on the upside, right?

You've got multi-baggers out of, you know, your Mag 7 stocks,

and you get high on that and you think it goes up forever, but got news for you. It doesn't.

You know, the volatility that you will experience in being a long-term investor on anything like

this is part of the game. You remember how people say the joke rather, that is, man, I wish

I just invested in Apple and Amazon in the 90s. Well, guess what? You probably would have sold

if you did own those companies. And the reason for that is how many 90 plus percent drawdowns

did you need to live through? I think it's two and three respectively.

I forget which one had three. I think it's Amazon had three. Apple had two. That is mind-numbing

kind of volatility. And I think most people would have looked at that and probably sold.

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