You're listening to TI P.

You're listening to TI P.

Hi everyone and welcome to the show. My name is Stig Broderson. As we said there in the

deduction, Preston couldn't be here today because he's away traveling. But guys, we have

Tobias Kylal, principal of a choir's fund here with us today. Tobias, welcome to the

show.

Hey, thanks so much for having me, Stig. I don't have that beautiful, malifluous voice

that Preston has, but I got a different accent. So this will be like a United Nations

convening of the Investors podcast.

I love that you said that. And Toby, today we're going to talk about the current malignant

conditions. And we're going to talk about which picks we can find that will perform well.

Before we dig into your pick, what are your general thoughts on the stock market right

now?

Well, we've had roughly 18 months, two years of sort of volatility and bumping sideways.

I think we're up a little bit over that period of time, but I share Preston's views and

possibly yours as well. I don't know if you've been quite as vocal as Preston has been

about the overvaluation, but I think that the market is very overvalued. You can take

any measure that you prefer to sort of look at that, but you know, anything like Tobin's

Q, which looks at the replacement value of assets over the market value of assets, which

is a measure of what's the market paying for the assets versus what does it cost an

entrepreneur to go and set those up on very long run measures. We can look at that metric

going back to the, I think, sort of the mid 1950s sort of time period or a little bit

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