Traci Alloway

That's a lot of new money coming into the market that potentially thinks differently to the way investors for much of the 1900s actually thought.

Right, that's what I mean, yes.

Exciting slash terrifying.

I was just going to make the same joke.

Oh, my God.

I shouldn't have let you.

I shouldn't have let you go first.

All right, we're going to have to leave it there.

But Jeremy Grantham, thank you so much for coming on All Thoughts.

Something other than P.E.

ratios.

Joe, I love talking about historical bubbles.

Yeah, me too.

I guess I should shout out some of our really old episodes at this point on very esoteric bubbles, like the Florida land bubble, the catfish bubble.

I did think the point about the change in the Mag7 stocks, this sort of watershed moment, this idea of a cage fight on the White House lawn, and I guess a change in corporate strategy where everyone is really tackling the same area of business.

Yeah, that was interesting.

How do I prep my portfolio for robot extinction?

That's true.

But again, this sort of goes back to the big tech argument.

But if you couch everything in existential terms, then you can justify anything, right?