James Kirby

Atlassian.

Yes.

Spectacular stock.

Wonderful stock.

I mean, for those who were involved in it for a long time.

It's down almost 50%.

And it must be very difficult for people who have Atlassian stock to sell now.

But it also, rationally, must be difficult for anyone who has that stock to understand or accept that the chances it's going to go up 50% are pretty slim.

The chances, even if it had a takeover offer, it might go up by 30%.

But it would be very hard.

And your recency bias would be, look, this is a $100 stock.

I don't know what price it is, but it's a $100 stock.

I'm saying to myself...

but the fact is it's selling on the market for 50.

And there's that gap, reality gap.

Now, recency bias in the investment property market for our audience, how would that work?

OK, recency bias.

It's like, folks, you know, when they have these surveys and someone says, you know, what are the best books of the last, let's say, the last century so far, 2026?

And you look and you find that many of the books are from the last two or three years because people...

It's the most recent ones that is most live, if you like, or most memorable to people.