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Here is your host, Dan Ferris.

Hello and welcome to the Stansbury Investor Hour. I'm your host, Dan Ferris. I'm also the

editor of Extreme Value published by Stansberry Research. I can't wait to get to our interview

today, I must say. We'll talk with Dan Rasmussen from Verdad Capital. They have a

really cool strategy. I just happened onto their website one day, and I read about it. I thought,

wow, listeners will love to hear about this, and he was thrilled to come on the program,

so he'll be hearing a little bit. But first, a few thoughts. As long-time listeners

know, I'm still bearish on U.S. stocks, and actually bonds globally don't look that great to me.

And I have also discussed private equity and venture capital, more as signs of the top, you know, signs of the end of the

cycle and those other things. And venture capital is just an out-and-out bubble that appears to be

bursting right now. And I reiterated all this last week. So that kind of begs the question,

or ought to beg the question, what should I do now that I've expressed this viewpoint and I'm

holding this viewpoint? Well, I'll tell you what I should do. I should run around looking for

ways that it can be wrong. I should get plenty of competing viewpoints in my head and think,

hmm, do I have this part right? Do I have that part right? That's what you should do.

You know, you should punch holes. It's a weird thing investing. Because most people, they don't hold

long enough, meaning they overreact to headlines that really don't affect the business,

but they don't think enough about the actual business itself.

So now that I've thought about the overall market, I should think about, you know, reasons

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