Larry McDonald

Now we're in the second stage.

There's three stages.

It's where if you look at the MAG-7 today, 14%

drawdown in a bull market, right?

Now you can say, and the S&P is only down five, right?

You look at Google, 17% off new low yesterday.

So the companies that are burning the cash, people are looking at this like a moment with the dot-coms or let's just say a better example is the shale revolution where it's called malfeasance around like you're just malinvestment.

In other words, there's such a race of the testosterone to spend the money.

There's not a lot of thought behind it around a return on invested capital.

And so now we're in a stage where people are show me, you know, they want to be shown.

And that's why this drawdown in the mag seven probably lasts right now.

The NASDAQ 100 was worth 34 trillion, maybe six months ago.

Now we're talking about 30 trillion.

So 4 trillion is left and gone into energy.

Zuckerberg is amazing, right?

This guy destroyed investors in 2022.

70% drawdown on his stock.

It's like Jensen.

These guys blow up investors all the time.

Now, if you buy and hold these stocks, it's a lot like Bitcoin.