Tom Gardner

We start to get, if your stock's not up 4.5% today in the market, it's kind of disappointing.

But if you were to actually annualize 4.5% daily returns, you know, you would own Manhattan.

So what I'm gonna talk about

in this quarterly call is what type of investments to make in this environment.

So should you be buying the new IPO if SPACs return, right?

Should you be buying those?

Should you be buying the obscure crypto, right?

We talked about that in the first call.

Should you be on leverage?

Should you be buying penny stocks?

These things are all no in most situations.

And they're, to me, absolutely, they should be forbidden among Foolish members in the environment that we're in right now.

It's time to

reduce our exposure to risk.

And that's what I want to talk about today.

There are a lot of parallels and worthy comparisons between what's happening in the market today and what happened 25 years ago with the incredible boom of internet stocks and the dot-com collapse.

Let's start with what's not comparable though.

So the first thing that's not comparable is companies are making investments that are either breakeven or profitable.

So this isn't a heavy infrastructure spend.

We had to lay down the price.