We Aren’t In The Mind Changing Business.

Amen. Greetings and welcome to Inside Baseball with Old Chestnut. I'm Liam Allen with my friend More Sach.

Uh we got a tough day today and we're gonna get through this and we're not gonna talk about the market. I'm gonna talk to my buddy. You guys are gonna listen. Okay. You're not gonna judge. We're gonna talk off the script like we have done for 130 weeks. Okay, we have sat here and we have been honest and transparent and we've tried to keep it real with you guys. And we have done markets, markets, markets, page six. We've done our thing. This week. We are gonna talk like two buddies.

Talking it out because there is shit going on in the world. And when I get an email from my buddy saying that this kept me up last night, that bothers me. Okay, so now we've answered the question, what keeps MB up at night? All right. And I had to go to sleep last night. I had to put the phone down and stop. Scrolling because the pictures and the news and what's going on tonight, today in Israel.

Is horrific. Period, full stop. That's what I'm looking at on Sunday night. I'm looking at live feed of Rocket. Innocent civilians getting murdered. I see, I see war. War has broken out in the Middle East. I'm 42 years old. This has been simmering since I was born. I'm 42. Okay. I grew up in Westchester County. Across the street from me was a Jewish family. On Christmas, we put a Christmas tree up. The minuses, they put a menorah up.

The that kid and I were best friends growing up. We didn't know there was a difference, except I put a tree and I put a menorah. He was Jewish and I was Catholic. That was kids. We were innocent kids. All right, so there's innocent kids in Israel and pa Israel and Palestine that are going through this shit today.

All right. And when I get an email from my buddy that this kept him up and he doesn't want to show, do the show. That's a problem. So I'm going to talk to my friend. Okay. I want to know what's going on. What he is Jewish. You know. He has sat and talked about his cabal. He has been self-deprecating. He has been a proud New York, Chicago, Ashkenani Jew, right?

Thank you. All right. And now he is living through hell. Okay. You know his wife was down in DC for the conference. You know how active him and Cheryl are in the Jewish community. So when they're getting rockets lobbed into their homeland, okay, you know MB went to the wall. You know how much he hates fucking hates. Traveling.

Flying commercial to Israel. Okay? He talked about it. So for all you guys, especially the ones that emailed me this week, that said we've listened to every show. We listened to every 130. They reference shows from years ago. So you guys know how much this means, who he is, how proud he is, and how much this hurts him. Okay, so when I got that fucking email that he doesn't want to show do the show, that's serious shit.

We've always done the show through thick and thin and we try to give you an hour. That's not CMBC, that's not Bloomberg, that's not a pitch. We try to do two guys at the pub catching up after a workday or a work week. And so far so good. We haven't. We've stayed away from the politics. Okay. We know how toxic that is. And you probably can't tell which either side of us fall on. We try to keep it that way.

We know we go into uncharted territories and we talk about stuff like that I should I w I have no business talking about the Middle East, so I won't. But I know that you guys have had it stuffed down your throats for the last 48 hours. You get a constant newsfeed, you get two sides of the story, you get nothing but But white noise about it.

So I'm gonna bring him in and he's going to explain to you gentiles, you people out there that aren't in the inner circle, that aren't living this fucking nightmare today. And I know there's people out there. That will ha that have hidden racism. Okay. I'm not stupid. I grew up in America. I grew up in New York. I know there's people that are prejudiced against against Jews for nothing else but being Jewish.

Okay. I don't wanna hear the uh I'll l I'll give you the list. They run the media, they run the banks. What what else do you guys uh have locked up? Um The media, the banks, what else you guys have cornered suffering? I mean, like uh on that. Yeah, yeah. Well, we get the banks in the media. So we got banks in the meals, real estate. You guys have okay, but the point is there's this.

Unspoken, undeniable prejudice against Jewish people in America. You anyone that tells me there isn't is a fucking fool or is lying because it exists and we know it. Okay, we see it in Crown Heights. We know the people give the Hasidic people in Crown Heights. We know what goes on.

And it's fucking awful. And now we're on the brink of World War Three. And MB mentioned it last night, last week, that he was concerned about what was going on. And I cringed and I said, Oh boy, we're gonna I joked about the Middle East. Now it's not a joke. All right. And here I am with my buddy who like what what happens? Okay. So you get you get what? A notice that they're shooting rockets into Israel? Is this how did this unfold?

Yeah, well, first of all, um Thank you for expressing your views. I is Liam uh said, we've gone out of our way. Uh to be apolitical. And I don't know how to get a job we've done at that, but I think like we've tried. Um

The last uh 48 hours has really been pretty surreal for me. Um So um it's no secret that uh in the evenings, um you know, before reading or this or that, or instead of a drink, I might have a gummy. Uh And um So I Friday night we do our typical thing. And we've been meaning to watch this movie Golda, about Golda Maier. And so we've been putting it off. And Sean and I watched it. And I watched it. Not because I had that big an interesting thing.

and cold in my ear. I I just I'm a big fan of Helen Muren. Yeah. And I wanted to I wanted to see her as an actress. And we watched the movie and As a movie, I'm going to give it a C. is a history lesson. I'm gonna give it to the extent it's accurate and I I can't say, but to the extent it's accurate, I I give it an A. I had no idea How complicated and dynamic that situation was at that point in time, right?

So Saturday morning I woke up and Cheryl says Israel's a war and I I thought I was still asleep. I just watched this movie about Israel and war and um It's like fuck. And I had trouble sleeping, which um I love the way you phrased it. What keeps MB up at night? Well, they they finally I besides my kids, they finally figured it out. And um I don't know, around 3 a.m. I decided I we I just I just didn't feel like I was going to be able to do a podcast.

Out of respect for the suffering and the people going through what they're going through. Um I mean we started and run this podcast as a uh a light uplifting funny uh honest discussion about the financial markets and it just seemed inappropriate to me to talk about money when you're talking about human life. Um So I was like, okay, well, I'm I'm kinda out. And um what you guys probably don't know, uh

Is Liam Allen is one of the best writers I've ever read in my life. Um I've pushed him for years to try and write, and I'm still waiting. But he wrote me a few notes which hit home. And then I talked to uh Cheryl about it, who is Liam Liam has mentioned, um is deep down the rabbit hole of what goes on here. And so what I think Liam had suggested and what kind of came across to me was perhaps I could share a few general thoughts. And then what I've noticed is

a feeling of generalized anxiety, which I recognize from when I was a training trading manager. And um with respect to the suffering. I think there's a global situation that I would like to point out with respect to everything else that's going on. Um, but let's start with the personal element of it. Um You know, I'm not really a religious person. I you know, was forced to go to Hebrew school. I I make a joke, but it's sorta true. I failed every year, but I kept getting promoted. And um

getting my knuckles smacked enough, I learned the blessings and I I got barmit's foot and I carried on and got uh confirmed, which was really nothing, because you just turned up. And then I went about my life. You know, being an American. Because I I identify as an American, which is what Jews typically do when they're in foreign countries, they assimilate.

You know, it's like you look back and it's always Godwin's law it gets compared to the Nazis, but you know, you had all these Jews there who were like, wait a minute, I'm I'm German, why are you right? Okay. Um What I found peculiar and it just seems to have been accepted into popular culture. And um I only know one religion, which is Judaism. And I make the joke: if there's two million Jews, there's two million forms of Judaism. Like everyone practices their own approach to it.

But compared to other religions, th let me tell you what I've seen in mine, which is Uh and I've mentioned this before. For Cheryl and I to go to the high holiday services. We have to park about a mile from the temple. And this is not for religious reasons. Very religious Jews don't drive on a holiday. We have to park a mile away.

for uh logistical reasons to do with security. So we'll get put on our Sunday church clothes and walk a mile. And when we get to the uh corner of the post road and church street, there will be uh a couple of Greenwich Town policemen, uh cars, maybe three or four active officers. And then the driveway and the entrance to the temple are um covered with uh uh like those blocking horses. Yeah, uh yeah, the saw horses. Yep. Police line can across. Yep. Yeah. So like a car can't

can't get through them. And then, you know, I don't remember because it happened so fast, but I would bet you we probably walk through medical metal detector. Um Probably have to show some form of identification. To get in to pray. I I I'm not sure how many religions have to do that. Um I I don't know how many religions, you know, you find out that people went into the cemetery and broke headstones.

of of dead people, people passed away because of their religion or swastikas. And so You know, I I've kind of always wondered, you know, what is it

What is what have the Jews done that and and I you know, there's all sorts of theories and beliefs. As much as I like to joke about it, to the best of my knowledge, we we do not rule the world. Um, if we did, it's a it's quite an achievement because we're less than what, one tenth of one percent of the population. So I guess it's a pretty sad commentary on the rest of you folks. Um Uh but what happened, and I'll be brief about what happened, because as Liam said.

There's there's horror porn all over the internet. And I've taken a look and it It makes me ill. It really makes me ill. Um but the point I would like to make from my understanding is it was an attack by Hamas. Hamas is recognized as a terrorist organization, and they killed a bunch of innocent people and taken hostages, both Israelis and Americans now and uh probably lots of other people. They knew going in that when they did this.

Israel would retaliate, and that because of the way Hamas hides within hospitals and schools and local areas that there would be uh civilian casualties and they will attempt to blame those casualties on the Israelis. Uh I I'm highly confident the um counterattack that's taking place, maybe even as we speak, would not have happened had Hamas not attacked Israel. My understanding is their charter is to destroy Israel.

Uh I you know, again, I'm not an expert on this stuff, but I I I just sort of want to make the point that this is not uh a casual thing. You know, th this is a group of people who have devoted themselves to wiping out an entire race of people. And yet a lot of people, you know, are involved with them. Uh they tolerate it. You know, you see a lot of the stuff in the Middle East. They they walk lightly because they're afraid of offending people. And

Obviously, there's a lot of stuff that goes on behind the scenes. So from the MB personal uh standpoint. I I don't know. But with the f you know, five degrees of separate separation, I'm sure we have friends or whatever that have either been hurt or killed. Um And again. I don't want to speak for you, but um I I support Israel's right to defend itself. Um and uh um I just want to get that out there. Um To try and get a little bit away from the focus on uh what happened.

uh yesterday um and talk about something that uh is how I'm looking at things. F first is I see myself as um a risk manager. Mm-hmm. And um and we'll we'll we'll kind of leave it f at that concept. So um As a risk manager of a highly levered portfolio, um, you know, I I tried to be. aware of everything going on around me. Even geopolitical risks, which I have to be honest with you, we're never really My strong point.

But you've always but you've always loved talk. I can remember doing bike rides with you ten years ago and you being like, Yeah, but Kosovo or pick a pick pick some random hot spot and you'd be like, I'm paying attention. Well that's that's the thing, right? You ha you have to pay attention. So now before we get fifty emails about the tin hat stuff. I'm not saying I'm right about this, but I'm trying to open up and let the world of inside baseball with old chestnut see

what's going through my mind from the point of view of a guy managing risk. Okay. I I've already told you where I come down on the the human side of this. This has got nothing to do with the Palestinian people. This is all about Hamas trying to kill Jews. And uh the Palestinian stuff, as I've said before. Until you've been to Israel and been boots on the ground. Okay. I I didn't have any appreciation of the reality of the situation, and I would suggest

before people jump to conclusions based on bad information or limited information, they get a better understanding. But irrespective of the Palestinian people, what Hamas did is just completely violates all sorts of rules of war. And so that kind of left me Wondering why now? And what does it mean? Um you had mentioned uh and I'd mentioned Cheryl's actors. in our community, but on a national level. And uh what cheat is doing is works with other faith.

to have discussions and talks about different

thoughts about religion and it's all very upbeat and very and very positive. Um, but not my thing, right? You know, she has her thing and I have my thing. And but She talks about it and I listen and I I learn and um The last couple of months And this I think answers, potentially answers the why now, but invites the tinfoil hat question is um it's my understanding that the Saudis Are very close to coming to some real, legitimate, formal understanding with Israel.

I don't say imminent. I I don't know much other than my understanding is It's very close. I I don't think it's because the Saudis like the Jews. I I think if the Saudis didn't need the Jews, they'd push a button and they'd kill the Jews because they feel the same way. But You know, the in their world, the enemy of my enemy is my friend. And I think they've come to realize that uh Israel has a lot to offer. Israel has a staunch ally in the United States.

And the Saudis understand that Iran is a real danger in the region. And it's in the Saudis' best interest. keep stability in the region. Iran is a problem for everybody. And so we know Iran is allied with Russia. And so You know, again, tinfoil hat maybe. I I don't know, but you know, it makes a lot of sense that it's in Russia's best interest. to do things to destabilize the United States. And frankly, we're in an extraordinarily weak position. We have uh spent way beyond our means. We have

zero political discourse, right? Can you imagine? There's absolutely no back and forth across the aisle. No. You look at the American cities. We talk about it every week, right? So th is it possible they're sitting in the Kremlin going, if we can get a war going in the Middle East? Okay. The price of oil goes up. We have a lot of oil. The price of oil goes up. The US is potentially net neutral, but because of the internal disagreement between the ESG people and the

energy self-sufficient people, things like the Keystone Pipeline. Now I'm not going to say whether that should have or should not have been authorized, but there's generally ways around it. Right? And without necessarily force majoring, but we're in such a state that no one's willing. To have a conversation about a conversation. Right. So when you look at the situation that's unfolding uh before us, um

I I do think there's a very real shot of some substantial war breaking out. Who's that gonna be between? Well, I I don't know if if the Israelis discover uh Iran motivated uh uh this attack, they're they're not gonna they're not gonna sit on their hands. And you know, I don't know Iran's nuclear capabilities, but If they get brought into a war, the price of oil goes up, right? It's gonna uh uh wreck the U.S. economy. Most people uh don't really have much of an interest.

And what goes on in the Middle East, but if the price of oil goes up, they'll get all pissed off. Uh definitely drag us into a uh pretty significant depression. Um

Yeah, so I I I'm I mean I'm I I haven't really followed a very logical chain here, I don't think, but you know, as a risk manager, uh again. These are times why I don't believe the risk models work because you're looking at uh a f three, four, five, eight, ten, twelve standard deviation event or uh it the models don't don't handle that. Like so for instance, What would we expect the markets to do Monday? Well, I mean, I guess the price of oil should go up. I guess.

The price of bonds should go down. Uh, I guess the stock. should go down, but I you know, I always think that, so who who knows? But you know, on the other hand, the payroll number was so strong on Friday that they're going 25 the next meeting. That's a lock. And they have cover now. They have cover to tightening. is I believe we've said they will tighten until they break something. And the fact that the stock market's going up does not make them happy.

They would be happy if it were 20% lower by 1% a day. Okay. 20% in one day, Nish get, but a slow decline. So you know we're gonna have higher rates. Um I'm not gonna predict the stock market. Um it's almost it I almost feel Stupid trying to talk about what the markets are gonna do when when you're looking at one of the most dangerous times since we've been alive, right? I

Just before uh I came in to talk to you, Cheryl texted me there's a US aircraft carrier on its way to to the Gerald Ford. Gerald Ford. I got friends on the Gerald Ford that are sailing to the Persian Gulf. Okay. So you want to talk to the risk guys? You get on I'll get on the phone with a Navy pilot. Hey buddy, how what are you doing tonight? You watching the are you gonna watch the Giants and the Jets? No, I'm full steam ahead to the Persian Gulf.

Okay. How are you gonna go in and trade on Monday morning when you know that's going on, you know? Yeah. So get the day off on Monday for the news to even bubble even more because you know markets are closed for Columbus Day, right?

I don't know. You got more time to think about it. You got yeah, I think you get Monday I think markets are closed, I think, on Monday. So you've got all Monday for it to fester. Yeah. Well we'll know we'll know in three and a half hours because if they're I I would be uh I wouldn't be surprised if the bonds were closed, but I'd be surprised if the stocks were closed. They tend to be they tend to be open. It's Indigenous People's Day? Yeah, bond markets closed. Bond markets closed. Yeah.

But the stocks are open. They'll be open for business. Nasdaq and the stock exchange are open for business. So the bond guys will get the day off, which makes it even weirder. You know, you're gonna have a weird day. Uh that's what they i I guess in in World War Two. They made a list of job priorities like who could get drafted and this and that.

And so like for instance, if you were a steel worker, like that was a that was a job they didn't want to pull you out, they needed the they needed the iron made into this interesting. And the joke was that The job that was more important than being a bond trader was an orien ornamental flower instructor.

Basically, if you were a bond trader, you were getting you're getting uh again, I I apologize for laughing. I mean I I it's just uh Like I Liam talked about, I really struggled with uh whether we should on the show what we were gonna talk about because you know one of the the core tenants of Our process is: we don't, this is not monetized. We don't take any money for this. And the purpose is because.

Well, first of all, it was supposed to be just two guys, a can and a string, or two cans and and some string, right? And now it's grown into this global media empire. Yeah, although even though the actions in the Middle East were reporting from the United States. Um uh yeah, I just it's it's been a a really surprisingly emotional 24 hours for me because it's just like When we You read all of the stuff like I've read about what Israelis do for Palestine.

And when you go to Israel and you see the way the areas are managed, okay, and you have a conversation with someone that comes up with the other arguments, which I I think are uh specious, is that the word? Um they're just not legitimate. Um I'm not in the business of changing minds, right? And um There are people who have convinced themselves that what the Israelis are doing to Palestinian people are terrible. And uh hey look, I'm not gonna say every situation is completely perfect.

And I'm also not willing to say, you know. uh we should ignore the situation, but I I think it's awfully skewed. And I don't think people conventionally understand the complicated nature of what's going on. And so again, I I I shy away from these conversations with people because, you know, I I have a couple of examples that uh of things where I read recently Um

I forget who said this. I think it might have been one of these newsletters called Dunberg that I I read. And they brought up an interesting concept which I hadn't thought about. Which I should have thought about for a couple of reasons. One is we've had electric cars and I've also have financial interest in in uh parking structure. So the purpose of the piece was to point out a couple of things. Um I don't know. I suspect you've seen what happens when an electric car catches fire. Oh yeah.

The hours to put out? Dude, I saw one slide backwards down the boat ramp. You ever seen a truck slide into the boat ramp where they fail? All right, so the guy the guy backs his Tesla SUV down the boat ramp. And he lets his boat out. He tries to pull back up the boat ramp, spins the tires, and sinks the Tesla. It caught fire in the lake. The Tesla caught fire submerged in water. So that's where we are with electric cars and burning. Yeah. So

I think it's ours to put out electric fire. And so that's you can do your own research, right? Okay, so that's number one. Number two, these electric cars. are apparently substantially heavier than the ICE internal combustion engine. Again Do your own research. Okay. So now why does this matter to MB? Well, we have a uh rental building in New York City that you can park cars in. Okay. If a car catches fire inside a garage, okay, that building's gonna collapse.

Because the heat that's going to get generated is going to trigger other cars to ignite and explode, and you're going to have hundreds. of people are gonna die. The cement is not rated for you know double the weight It was you know, when the garage was designed, they weren't weighing electric cars, they were weighing internal combustion engine cars. And I'm well just say they're twice. Well

You know, I I'm not an engineer, but you know, you you gotta figure out how much cement to use, and they have formulas. Well, those formulas don't Right. And we all know what happened once the fires started at the World Trade Center. That w didn't end well. And so Anyway, I guess the point is I was trying to bring up this point with a person

who's very pro electric car EV and like they wouldn't they wouldn't hear any of it. None of it. Yeah. Like, oh yeah. Well there's the there's the uh emergency sprinkler system in the garage and that'll like I I I okay. Yep. Oh oh oh okay. You're never gonna change that guy's mind. They're committed. Right. So for me to come on here and try and persuade anybody that what's going on between Israel and the Palestinians is

right or wrong or left or right. I'm not I'm not gonna do that because, you know, I've got my opinion, they got their opinion. I I I respect the right to their opinion insofar as it doesn't end in violence. But it seems with our people, the Jews, we always end up the brunt of the violence. And before anyone gets too carried away that I got a paranoia complex. As I've done before, I would invite you to go to Wikipedia and type the word pogrom and see what you get.

And if you get, you know, zero, then this episode's free. Like the rest of Go watch Fiddler on the Roof. Like have you seen Fiddler on the Roof, right? Isn't that that's the first Only about nine times. Right. Yeah.

Yeah. I just want to talk I I wanna talk about the like the you you the Jewish experience. You're such a small percentage of people. So it's it's tough for an American like me To understand I I can do it because I I'm aware, all right. But I can see that, like you know, Billy Bob in Ohio doesn't understand.

why America stands united with Israel. They're kind of like, eh, what what's the alliance? Like why like why should why should I, you know, why should I support Israel? To me, me personally, I've grew up I I grew up th think Israel to me is the home of the Jews. Okay. That's where that I didn't think that my neighbor across the street was from Israel. I thought he was Andy Minus, a Jewish kid that lived across the street. I was Liam Allen, a Catholic kid that lived across the street.

It it wasn't like, oh, he's from Israel. He didn't fly an Israeli flag, you know? But I know that that See, this is where it gets m gray and muddy, like that's is that the home whose territory that's it's a territorial dispute is what it boils down to. So so a couple of things.

Okay. I'm not minimizing that. He said that about Russia and Ukraine and he got dragged back. Okay. Well fortunately, at least now you're not running for office. Right, right. The the couple things I I would say is Israel is a democracy in a part of the world that it's in the US's interest to have a democracy. Full stop. Okay. I mean, there's more reasons, right? I mean, technology, industry, trade. But that's why.

Okay. Well I for me that's the first thing that comes to mind. Again, I got I probably got a D in political science. Um Maybe an incomplete. Um but it's a democracy where we need a democracy. It's a military advantage because of the oil and uh that part of the world. Right? There's a huge uh technology and intellectual uh talent that gets swapped back and forth between Israel and the United States. And you know the uh there

Countries are allowed to have good relationships for other than, you know, financial reasons. Yeah. Um What was the second part of that we were gonna do? No, I was just curious, but like you know,'cause like for the casual American that doesn't understand the American Jewish Alliance, um or per or or or isn't familiar with being Jewish in America, you know?

about the territorial dispute or however you want to phrase it. I mean I yeah, did we get it right? It's like everything we do here. You can spit to it, right? So there's a disputed bit of land. And I've been there with my wife. And I've been there with my friend Turgut, who's Muslim. And we went in a part where uh Jews were allowed to go. And He went to a part where Muslims were allowed to go and Jews weren't. And when he went to the part, the guard said, You gotta prove you're Muslim and

My friend Turgut repeated in uh whatever language a Muslim prayer and they and they let him go in. And you know what? the everyone gets to gets to touch the rock or or put the note in the wall or so this notion about you know they can't make it work. I I just I just don't buy it. I think and I've felt this way for a long time. That the Palestinians are unfortunately a pawn in this geopolitical game that gets played between. Iranians, the Saudis. The Russians

you know, whoever. And I mean, I don't know how many people uh there are um uh in the Palestinian areas. Okay. And I understand this statement is could be construed as grotesque. But if if if the Arab nations were that concerned, okay, okay. Do a land swap. Do something. Help your people. Take them out of poverty. Educate them. You know, give them medical help. You know, there's plenty of land. between Saudi Arabia and Egypt and Syria and Iraq and Iran, right? And I get it. Look.

I don't want to move out of my house either. Okay. But if my house is getting rained on with fucking bombs. You know, one day out of forty I'll take a free crib somewhere else and um you don't hear any of the Arab states. offering sanctuary to Palestinian people. I I just don't like again it's a big ass to say move from your home. You know, again, God wins law. You know, there were plenty of Jews willing to leave Germany. And that no one would take them. Mm-hmm.

Now you're not going to get an Israeli people to commit a genocide because it's not right. It's it's not right. But there are going to be a lot of innocent people. are gonna die. Because they're being used as human shields. And again, I I didn't really want to go this route. And I'll tell you why.

We've been doing this it could be coming up on three years, two years, three years. Three years. And it's been one of the greatest accomplishments, I think, of my life that we've been able to put down on paper, so to speak. Thoughts about the markets and about life and stuff like that. And we're now at a topic which is so incredibly polarizing. We risk

Fucking it up and I I I I the the the angst I feel about this is just so high. So I guess I would say um If you disagree with us, you can see that we're not going to be ab That's your right. If you agree with us, that's your right too. I would probably feel strongly in saying next week we'll probably return to our regularly scheduled programming. Assuming you know the US says Abraham Lincoln hasn't uh Yeah. But I I will tell you one thing with 100% certainty.

If Israel feels its existence is threatened by Iran with a nuclear weapon. They will they will use a nuclear weapon. Yep. 100%. Yeah. Yeah, who said that? Yeah. No, I know. I mean they don't say he doesn't say it, but he says it in in a c in lovely way. The way that he has spoken, he has said, you know. I mean like

haunting things about like the I I don't know the verbiage, but whatever Ny Yahoo said this morning, I was like, he basically said, You're fucking with the wrong people at the wrong time and we're gonna make you regret it. Um That's why I think that Goldem movie was so poignant. Yeah. Because it was like, again, I don't know the historical accuracy. And again, you know, if it weren't for the story to me being so fascinating, I wouldn't be like, don't bother. Mm-hmm. The story is a very good

I thought so compelling that I I uh I I'll probably watch it again at some point, but uh we gotta get from here to there. And um for all those short followers sellers, um Especially uh, what's that guy's name? James Cordier? Yeah. We're gonna make a lot of small turns and um So anyway, I'm first of all, thank you for insisting. Yeah. We we do this because uh I'm not gonna say asking people know, people know. I got emails saying what's up in

I got one saying is more Morris' friends and family. What's up with Morris' friends in Israel? Who's who's what's going on? So people know people share my concern. And I think if we didn't do it, then there'd be more questions and you know there'd be What's going on? Um and y like for you not to talk about it.

We obviously know you gotta talk to me about it. You know, like I like I have more questions. I don't want to barrage you with emails and be like, What you know, what do we do about this? What do like what about you think about that? What's gonna happen with this? What's gonna happen with that? Just like and to to be honest, dude, if there's 3,000 people or 5,000 people that listen every week. How many of those 5,000 people have a close Jewish friend? Statistically not many. Now they do.

You're yeah, you do. Thank you. Okay. So now they do. So like five because if you talk about that statistic, you're only what point oh two percent of the world's population. So let's do the stats. If we pull the audience from the general public, we got a couple Jewish guys that listen, but most of them aren't Jewish and and a lot of people don't know have a Jewish friend. I was lucky I had grew up

It's not like everyone doesn't grow up in New York, Chicago, where like we go hand in hand. You know, people grow up in Sandusky, Ohio and like they've never seen a Hasidic guy praying, you know? So like for me it's normal for you, it's normal for like I just want

I'm not I don't want to normalize it. I want people to understand what it's like for a regular Jewish guy in Connecticut. He's not even but like he said, he's not a you're not a Jew zealot. Okay. You're not one you don't you're not a religion guides your life or or dictates your life. You're you're a casual, you're a casual. I don't want to say casual Jew. I'm not trying to disparage you. Right.

So for the for the guys in the audience that don't have a guy like this, this I I wanted you to know that like This is a real thing for these people. Like I know and there's a lot of pushback or like, Why should my money go to y you know, Israel? Why do we have to stand with Israel? Um

And I and I don't have a straight I I can't nail that answer for you, but like there's I just wanted Well I think I think we did I do feel like we nailed it. It's a democracy. Yeah. In a part of the world we need a democracy for military uh intelligence gathering, technology and um yeah but just again with my risk manager hat on and maybe this might be a good place to end it up but Years and years and years ago, when I was doing this full time, I was at Grange Capital.

I came in on a Um maybe a Monday or Tuesday, and India and Pakistan were ready to go. launch a nuclear war over um Kashmir. And a bunch of the traders had mediocre positions. And I said, you know, Because remember, I got paid last, right? So We're sitting in a room, we got the foreign offices on the hoop. And I'm like, you got two countries getting ready to blow each other up with nuclear weapons. Take your fucking positions off.

If you feel like you need to trade, you call Lindwaldock or ESpeed or whoever was the guy at the time and you put your money on the line because you're not fucking around when The crazies are in charge. And that's what's going on right now. The the the crazies are in charge. And um yeah, so I'm we urge caution. All right, buddy. I'll see you next week. I appreciate it. I'm sorry for yelling in the beginning. Um here we are, folks. This is it. People like it. People like when you when you yell.

You take care. All right, buddy. I'll see you next week. Thanks for doing it, man. All right.