Jordi Visser

So if you think something is off on the board at 20 to one and you think it should be five to one, that's a good spread.

If you think something should be five to one and it's seven to one, sit that one out.

Don't look for a little bit of value, look for big value.

The fat pitches that Buffett would- The fat pitches, that's exactly it.

And I don't think the panic at the market level is there, but here's what's happening.

We've seen since Oracle, so I want people to go back to the day, because I was actually at a Robinhood event the day that Oracle released earnings, and it gapped up 30%.

One of the largest moves by a big stock ever.

It may have been.

It was a 30% gain for a stock that approached that day a trillion dollars in market cap.

Since that day, it peaked and it's been going down and now its debt is selling off.

CDS of Ford is going up.

So we've hit a new point and this started with Oracle.

Then we had the Fed rate cut in September.

And again, a lot of things shifted.

And I've talked on here about unwind trades that were happening first at the quant level, but now it's starting to spread.

Retail also got hurt.

Now when retail got hurt is when we started to get into October.

Gold peaked.

But more importantly, these power, like Oklo, and a lot of these names that have no revenue, they started to get hit hard.

And a lot of these names, quantum names, nuclear names, they're down 40 to 60%.