Chris Walsh

And that's why funds, and you mentioned the ETFs and indexes, they're just long-term winners when they're the right ones.

Obviously some themed ones can get a bit crazy, but like,

it does seem to work well for people and that's what kiwi save is set up to be you're not going into some exotic stuff there you're not doing single stocks that's not the mainstream it is about looking at growth looking at aggressive looking at balanced and moving with the market to some degree some of them of course are actively managed there's just lots to kind of learn and i think people make these mistakes with just like going all in on stocks and it puts them off when they go wrong

And that's what I don't want to see when people see that negative 70%.

What's my food bag done?

I think it's down 85%.

Allbirds, before it became an AI company, was down 99% or 98%.

The AI pivot from Allbirds blew my mind.

I mean, nothing wrong with Allbirds.

Of course, they were a success for a certain point.

Well, obviously, something is wrong with them because they're...

shutting down but um but it's that kind of stuff which you just get caught out and you don't seem to get caught out with these index funds and with well-managed funds um which is why a lot of money is pouring into them just be very wary of those single stock supernovas because it's really depressing when people post their you know down 95 staff oh sorry i don't i don't want to spiral

Well, I completely agree.

And I think it was a way to induce people into investing because it's like, well, I don't know what to invest in.

And so it's like, well, invest in things that you like and brands that you like.

This is very dangerous because Burger Fuel, for example, did its IPO 2008, 2007.

I remember going there and there was this campaign of, would you like shares with that?

Yes.

And the share price did nothing much.

And they look, they, but they expanded, they went to the middle east, but that's an example of, did people really understand the economics of licensing agreements, of franchise arrangements, of actual making burgers?