Good morning to the Real Vision viewers. I'm Matt Rao from Headwaters Volatility and I have the pleasure of interviewing Jared

Dillion of Daily Dirtnap.

Jared and I have known each other for a number of years

and we seem to have bonded over contagion

and we tend to compare notes when things get weird.

So he's a great touch point in that regard.

Jaren has a long career which started off at Coast Guard and has extended into working with Lehman Brothers and

the E.T.F. Index arbitrage desk, if I remember correctly, Jared, and he has now made a career and a name for himself in

commentating on how ridiculous things get often in our industry.

So I'm happy to be able to follow up on our conversation

that we had stemming from Jarrett's recent article

that he wrote for Bloomberg and do it live here in front of the viewers for your benefit and entertainment to some degree.

But I hope it's enlightening. I'm certainly looking forward to it. I find that

Jared challenges my thinking and gets me to come to some pretty good conclusions

as we work through things over time.

So thanks, Jared, for joining me.

Yeah, thanks for having me.

Thanks for the introduction.

Yeah, of course.

So one of the things just right off the bat

to dive into it that you mentioned in your article is about the collision of what people what investors do and how there's a bit of self-loathing or a conflict between what

they do and sort of negative commentary.

...