Coleman Church

We just didn't know when it was going to end.

Give me an example.

People were talking about the bubble in 05.

No.

If you fought it in 05, you were out of a job pretty quickly.

It went on for a long time.

I can tell you the reason I want to bring it up is, again, the perilous to today is, you know, so in 07, I had been on trading bonds for whatever, 13, 14 years.

So not the smartest guy, not the most quantitative guy, but been around enough to trade enough stuff to understand kind of how stuff works.

And all this stuff they're coming through with like CDO squared and CLO and like synthetic this and that and like,

I didn't really understand it.

I didn't have to trade it, but I didn't really understand it.

I didn't really want to get into it because I didn't need to.

But it's just thinking if I'm already in the whatever percent of financial experts just by nature of where I sit every day and it doesn't smell right to me, something's not right.

Right, right, right.

right so oh yeah i'm taking credit derivatives on bulgaria and stuff so like yeah yes but yeah you're taking derivatives of bulgaria but you're like this is too much for me it's just like how many acronyms also i'm just i'm i'm substantially averse to any acronym and then when you when you take the acronym and square it you know you're in trouble but

But then this latest go-round the last couple months with all this circular financing and hype with all the AI companies, and every day somebody's buying chips from somebody who's going to lend the money to buy the chips to invest in the scaler who's going to do this.

Every day, four companies are... You're like, dude, I suppose I could figure that out if I sat down and really...

tried to but it gives me a headache just even thinking about it and clearly it smacks of some kind of it smacks of desperation or something that's just my my gut is just having you know the sniff haven't been around a long time it's like dude if it doesn't smell right it's just it doesn't don't put it in your mouth right right so you remember thinking like what about the tech bubble in 99 2000 did you think

Oh, I got blown out.

Personal training, trying to short that.