Jon Quast

There's an obvious first-order impact, and that's on discretionary spending.

If you're spending more on gas to get to work, for example, you have less disposable income on toys.

Your discretionary spending is an obvious first-order impact.

There's

lesser obvious second-order impacts.

Lou already touched on potential helium disruption and how that can impact semiconductors potentially.

There's also things such as aluminum.

Aluminum is a very energy-intensive metal.

Maybe even your beverage companies are having a higher input cost with aluminum cans.

There's some interesting things there.

But what I like to do in times like this is, I have a watch list of high-quality companies.

Not necessarily safe havens, as in they're never going to go down a percentage point, but they're very high-quality businesses that I would turn to when it's hard to see through these cloudy skies.

I'm thinking about companies such as Waste Management, for example, ticker WM,

or even a Costco.

I'd even put Tractor Supply in here as well.

Tractor Supply provides a lot of livestock and pet food.

And so it really tends to be more resilient.

Vistra Energy would be another one.

So these are things that regardless of what market conditions are, and it can get chaotic, I like to have a watch list of these kinds of companies that I can really say, you know what, in 10 years, I really expect them to be bigger and better than they are right now, no matter what happens right now.

Yeah.