Happy Friday, everyone, and welcome to the real vision daily briefing. I'm Andrea Steno

sending to you live Friday, October 28th. Today, we're going to ask the question,

is this the mild up before the meltdown? But before we get to the answer to that question,

I have a word from our CEO Ruul. Things are tough out there still, even though we have

equities up on the day. And we want to stay true to our mission to help investors. So remember

that we had produced our price of a subscription of the essential tier at real vision to 99 dollars

for the annual subscription. And they subscription to the plus tier is just $400. This discount code

will run until the end of October. But back to the question, is this the mild up before the meltdown?

We've seen positive equity markets again today. And with me to discuss this exact question,

I have Michael Gaiet. Michael, it's it's good to see you.

Always a pleasure, you know that.

Michael, I think it's 10 days back. We talked about this market and the extreme negative sentiment

around equities. What should take on what's going on in equities these days in relation to this

sentiment debate? So I've made that point before that the one thing tops and bottoms having

common is overconfidence by the crowd, right? And while nobody can predict the future, you can

identify the conditions under which something is likely to occur, right? Now October 2nd,

I put out a tweet that basically got a lot of impressions and attention and got a lot of insults

where I said the end of the world is at hand. That's why meltup and stocks is about to take place.

And I said that because the pace at which yields were rising really became in my mind a systemic

event, right? Because you can't have $300 plus trillion of global debt where the cost of

capital is acting as volatile as we had seen. So because that was an end of the world scenario,

it was a very simple calculation in my mind subjectively. They, in quotes, will kick the

...