Tech Sell-Off Deepens: Investor Reveals Major Market Warning Signs | E.B. Tucker

I think everybody thinks that I like know the future. I really don't. I mean, I just thought this is really hot, you know, let me sell some, let me sell some more. And then the thing crashed. If what happened in gold didn't didn't send it up, didn't send your stock up, you should quit. Gold people talk about 10,000 gold and then look at Bitcoin at 65 grand and be like, man, this is nuts, dude. >> Are mining stocks cheap right now, by the way? They've fallen by double digits. >> Markets are mixed today on Monday, July 27th with the stock markets trading flat. Gold is up slightly and the dollar is flat. Bitcoin is up slightly. What has happened in the last couple weeks? Let's recap the biggest moves. Let's recap what happened with the chip stocks collapsing and whether or not this is the beginning of the end of the AI trade. And if it is, where do we hide? Our next guest is going to be examine the biggest risks and opportunities that investors face today, this week, and into the remainder of the year. We'll also be giving a preview on the Federal Reserve and what's likely going to happen on Wednesday. This Wednesday, as the FOMC announces its rate decision, the next guest we have on the program is EB Tucker returning once more. He's a fan favorite of the program and he runs the uh Tucker letter as editor. We'll be going over his outlook and what he sees are the biggest opportunities for investors today. This video is brought to you by and sponsored by Koshi, the largest prediction market in the United States. Unlike a sports book, you're trading peer-to-peer on real world events from economic data to political outcomes. And the price moves based on public opinion, not a house. Go to the link in the description down below or scan the QR code here and get started. Users who use my code can get up to $500 when they trade $25. CFTC approved and available in all 50 states, including California and Texas. So, right now, there's a trade going on for when AGI will be achieved. Traders are placing a 50% chance that AGI will be achieved by any or more companies before January 1st, 2028. Evie Tucker is going to give his assessment and whether or not artificial general intelligence presents opportunities for investors will wipe out the markets completely. Welcome back to the show, Evie. Good to see you again. >> By the way, that's a lot of that's a lot of topics you just promised. Hopefully hopefully we can cover all of them. >> All of them. >> The overarching theme is how to survive today's tumultuous environment, uncertainty, and find alpha, which your newsletter, the Tucker Letter, aims to deliver to its audience. I'll put the link down below. So, please do check it out. Now, let's talk about some recent news. Everyone's concerned about whether or not this AI bubble is expanding, contracting, or about to burst. Now, I have some news for you to uh comment on. By the way, the chip stocks, as you know, have all been falling. Most of them at least. Uh Intel's fallen 40%. SK Hanx across in Asia and South Korea is down more than 50%. Uh SanDisk down another 12% just today on Monday. But we have this news. Nvidia and Open AI in talks for up to $250 billion backs stop to fund AI infrastructure plants. Okay. A Open AI is in discussion with Nvidia about a backs stop of up to $250 billion that would help fund its ambitious plans to lease a massive new AI data center. The backs stop would let Open AI raise debt for a 10 gawatt data center campus in Pike County, Ohio on the strength of Nvidia's credit according to a source familiar with the discussion. And so they're not even going to banks or raising capital through the equity markets. They're just going to each other. And as long as this continues, there's no pop in the AI bubble. What do you think? >> Yeah. I mean, look, you know, data is the new gold. I mean, that that's the thing that I think really people get confused about with me is I wrote a book about gold when gold was like, you know, $13,400 and it went to 5,600. And I'm not saying, you know, it happened overnight, but my point is is that things are always changing. I mean, um, you know, nobody ever heard of Open AI back when we were doing stuff with gold in the early days. And I think the way you got to look at things is is that there's never been so much opportunity. I mean, data is the new gold. There's these data centers are going everywhere now. We didn't do much with stocks in the newsletter, you know, with chip stocks in the newsletter. We did we we focused on some other things. I mean, I think the way you have to look at this is that there's so much opportunity and things get hot and then they get really hot and they get too hot. And if you sort of see it like that, you know, you're going to you're going to play this the right way. I mean, everybody looks at it with the 1960s mentality where it's like you're going to have some big crash in tech or something. And it's not it's not that easy. It's just not that easy. I mean, there will be more chips. There will be new iterations of chips. Let me give you an even bigger thing. This all these data Pike County, Ohio. Now, I would I should go to Pike County, Ohio and visit, you know, a Wawwa station and see what's going on there. But, you know, these places are going to get these booms and then eventually, you know, the things go in these big cycles and then they're going to crash again because you're going to have the advent of quantum computing and you're not going to need the data center anymore. You're going to need like a storage unit and you're going to do all that work in a tiny storage unit. But that's the way you want it to be, David. You want it to be like this. You want it to always be changing because change is your opportunity. That's what people miss is that like this is this is good. This is not bad. This is we've never had so many opportunities happening so quickly. It's unbelievable. >> So the chips falling, the chip stocks falling, is that a leading indicator for the slowing down of the AI capex buildout and AI demand or is that just overation in that subsector? >> Yeah, I mean probably what it is is that people are starting to figure out that like uhoh, we're going to have a new class of chips. We're going to have a more efficient chips. We're going to have lower power using chips. We're going to have, you know, do more with less. I mean, Moore's law is alive and well. You everybody was like, it'll never keep doubling. It keeps doubling. I mean, the size of your your your pinky nail, you know, you're going to be able to solve, you know, the entire blockchain, Bitcoin, you know, hash dilemma in like 3 seconds at some point. So I think when you see that over time, you know, you stop trying to say it's going to be a but this look certain parts of the AI scene are going to have, you know, their own kind of trouble. But let me just tell you something like we ain't never going back, man. That that's the deal. You're never going to go back and say, "Let's hire 6,000 ladies named Wanda to sit around, you know, in in in offices and pay for carpet and chairs and conference breakroom cakes and happy birthday." whatever. Let's do that again. Nobody's going to do that, you know, because that's we're not going back. I mean, we're not going back to riding horses around either, you know. It's like this is how things go. And so, yes, there will be certain pockets of trouble, but I think it's way too it's way too kind of blockheaded to say that this is this is like some sort of scenario where there's going to be this gigantic collapse. I mean, everybody's racing for a reason. I mean, you're you're you're racing towards superiority in this data grab. I mean, it's not new either, by the way. I mean, I think smart people knew 25 years ago that data is the new gold. That's what they knew that. I mean, they they that's why you don't see, think about it like this. Like, we've never had it so good as regular people. I mean, there's, you know, in all of history, like we had, you know, all these difficult struggles. Like for example, during capitalism, which I think is over, you know, we had to like carry stuff around and work on factory floors and save up money and have lemonade stands and if we saved up enough money, then we had capital and we could do something with it. You don't even have to do that anymore. You have an idea, you sell the idea, you get tons of money, do whatever you want. I mean, it's like in I think people they they just get it wrong. I mean, they get it. I was in Martha's Vineyard this week. Some guy shouted at me in Edgartown. Are you EB Tucker? I thought it was a process server trying to get me. I say I talked to him anyway. He's asking me all these questions. I was like, listen, this is the best time ever to be alive. Like I can I can right now, you know, go on my my phone and ask for the entire history of Ted Kennedy flipping the car in Edgartown that night, you know, with the passenger that died. And I get the entire history like boom, in like 9 seconds, you know, it's crazy. I mean, this is like there's never there's never been a better time. There's never been more opportunity. Everybody's trading. Every most people are trading badly and uh they just like charge ahead into this market and sort of donate their money to smarter people and I think you can be one of those smarter people. It's easy. >> By the way, uh this is an interesting trade. This from Koshi, a prediction market. When will any company achieve AGI? I like to look at traders predictions on any of these interesting subjects here. >> I like that too. before October 2027 40%. Before January 1st, 2028, first of all, there's academic debate as to what actually AGI means and how we define uh AGI. It's it stands for uh uh general intelligence, right? But artificial general intelligence is not a uniform definition. >> But let's assume we get there before 2028. What does that mean for the economy? >> I think that's I think that's a little fast, but it is coming. I mean, you and I were talking on a previous chat about one of the pictures behind me is this Japanese drawing that says, "I learn for the sake of learning." And I I think like I must be the only person that does that. I mean, I love learning about stuff. I was telling my kids the other day that like when I was in school, I was always wanting to learn about other things and not the school lesson. But one of the things I've learned about is uh uh what that means. Generative generative intelligence. You know, it's sort of like right now, you know, AI is used as like a tool. I mean, I, you know, I can I can load essays into AI and ask questions like, um, you know, did I did I lose the audience with the flow of the essay or something like that, you know. So, it's basically reading old essays and giving me feedback. It's not really able to create essays unless it's able to take all this stuff and you, you know, if you read something that's AI generated, you basically know it's not that interesting. It's kind of like uh formulaic and it seems sort of dumb when you read it. There's no passion. There's no feeling and that feeling is consciousness. So I met this guy in California that started a consciousness institute and his whole thing was like trying to develop computer consciousness and I went and spent a full day with him. He told me all about it. I thought it was totally fascinating. And so computers that's when they're able to then have sensation and make decisions. But I I just I just I I'm not so sure that that's immediate. I think that's the kind of thing where there there's a little bit of a bridge there. And uh you're going to get, you know, remember how 9000 from uh Space Odyssey, the Kubric film. I mean, I just I I I don't think it's so simple, but uh I I also like to watch these prediction markets because smart people like this guy that I made friends with, they're on there and they they know when this is coming. I mean these guys were trying to give the computer the consciousness of a house cat. So this is like a year ago. So I mean that's what these people are thinking about >> consciousness of a house cat. >> Correct. Because if you if you notice you're a house cat doesn't really have the same consciousness as a person. I mean it does have sort of like an awareness of the other people that live in the house and someone is feeding it. I don't know you say this is somewhat, you know, at a basic level, the cat is sort of, you know, it's grooving with the the house that it's in, but it doesn't really have the ability to project longer range thinking and make decisions off that. It's not really there. So, these guys were like, let's try to make the computer kind of act like a house cat. you know, you pet it and it remembers you and all these things, but it's not necessarily, you know, planning and this it's not it's see what humans do that's different is they they're able to plan out and make all these maneuvers, you know, for this future date based on what they've learned so far. That's what humans are able to do. They take all that information and all the sensory inputs. They combine all that together. That's consciousness. And so, um, the computer can't do that. you know, all it can do is take like uh 300 essays and, you know, like look at another essay and like tell you what's different about it. And that's useful. That's very useful. I mean, for, you know, for the ladies at the at the at the data, you know, they used to stamp things by hand. That's a problem because they're going to do repetitive tasks very very very well. And there's not going to be any need for people that do repetitive tasks. However, what you're talking about this generative ability, this is the place where they start replacing, say, advertising executives to create like copy that will pull people in based on, you know, computer intelligence. And so, we're just not quite there yet. And and I think, you know, let me just say one other thing here because I think people hear this stuff and they they they they they have really really really bad thinking habits. I don't want to cause any offense to people, but like I I I listen to what people say to me, like newsletter feedback and the readers and all this different stuff and and people that I know that sort of have money and I'm shocked they have so much money because their thinking is like so whacked. But basically, they need to pin everything down like, you know, remember Y2K it was like, you know, the computers are all going to stop on this day and I'm going to get a bunch of canned food and I'm going to survive. That type of thinking is how people think, right? And it's like that's not really how it works. I mean, things are constantly changing. They're constantly changing and there's always new opportunity that's that's popping up that you didn't know about three years ago. I mean, nobody heard of Open AI, you know, several years ago like like it was a nonprofit, it was an institute, whatever. But if you think about it from that perspective, life becomes really really exciting because things are are are constantly unfolding that give you a chance to like shift your thinking. People don't want to do that, David. They want to sort of like have you tell them, you know, this is the linear equation. You don't have anything to worry about anymore. And that's just not how it works. I mean, it never think back to you every time somebody told you that. It's always a lie. So the whole AI buildout that we're talking about now is kind of dependent on hundreds of billions in loans and cross investments. If you were asking an AI company executive or a tech company questions about whether or not the uh AI buildout is coming to an end or slowing down, what questions would they be if you were to do deep dive yourself? >> You almost want to do it like you're visiting someone in a coma where you're like, you know, what day is it and who's the president? But I mean basically I don't think they've had to answer a lot of those questions. It's been how fast can you get me scale? How fast can you get me compute? There's all this lingo, right? And and you know, New York, I'm with these people like, you know, having coffee and stuff and talking about what's going on and it's like it's constant constant forward progress. I mean, there is no real like risk assessment that goes on like there is if you're building a factory, you know, and you own a pipe company or something and you're running the numbers on this stuff. I mean that's capitalism. You know what this is is this is a massive race for scale and uh so far so good. I mean I I think there will be a lot of waste. Um companies that are not capable of jumping into the next thing fast enough will be in trouble. and Pike County, Ohio, you know, should sell as many, you know, gallons of gas and slushies as possible with the Waw Wa before, you know, the the the page gets turned because, uh, ultimately they'll have it'll be like having a Dollar General store, you know, when it moves down the street and there's nothing but a metal building for a church to occupy. So, basically, this is an evolution that's happening right now. I mean, right now the big problem is power. I mean, it's like they can't, you know, they can't power all this stuff. And so, the part of the race is power. We talked about that like two and a half years ago in the Tucker letter, evtucker.com. We sort of moved on from that because things get hot and then they they crash. You know, like the the investment piece gets hot before the actual thing happens. That's hard for people to understand. You know, it's happening right now, by the way, in flying taxis. I don't want to get off track, but you know, the investment scene is like yet to take off and like, you know, the real thing is a little further out, but I think it's it's good to look at these things because you start seeing the pattern here. You know, the chip thing got hot before there was actually really a chip problem. You know, like as soon as people sniff the chip problem, bam, it's hot. Now, there will be too much capacity. Same with memory. I mean, the memory, the amount of memory you can cram into something, you know, is is is shockingly high. like it keeps getting smaller and smaller and uh we'll fix that. We'll solve that. We will solve that and uh life goes on. >> What what are the investment opportunities still in the tech sector today? >> Look, I mean I think there's things this year we got like really hot on cyber security because in February if you remember all the software stocks got hammered and we didn't you know we didn't own a lot of software stocks. we're not really that interested in software, but what happened was uh I ran into the CFO of one of the biggest cyber security companies and and he was like shockingly optimistic and and uh uh yeah, I mean I was like we got to own these things. I mean we got to own them and they ran like crazy. I mean they ran like 80 90% um you know over three or four months and now they're cooling off. And that's what happens now is you get these things they they surge. And uh I don't think you have to be at the computer all the time, but I think you have to shift your thinking to like things get hot and they get too hot. And uh your life is going to be completely digitized, David. It's going to be 100% digital. And um if you don't like that and you want to go live in the woods, you know, best of luck to you. Um I think it's better, it's smarter to sort of go along with it and make money. I mean, they want you to make money. That's the deal. Like, they want you to buy stocks that go up in value and then sell them and pay capital gains tax. That's what we're going to do, you know? I mean, everybody else, I'm not sure what they're doing, but this is the way you start to see the world. And when you see it, you're like, "Yeah, I mean, you might as well you might as well make money and live." >> That's I think people just miss that. Like, I sometimes wonder like what what are people doing? I mean, >> you're not gonna live that long, right? So, it's like if you can make money and go do things that you think are fun and then come back and learn about something and make some more money, that's what you should be doing. I mean, like it's going to be over, you know? And it's like nobody's really going to remember, right? And um so anyway, I I just let let's like let's not forget about the original comment you made about gold and silver because um I got a lot of nasty feedback when I wrote about selling silver. And uh I'm sort of happy that I sold some silver. I mean, I sold like maybe 15% of my silver over 100 bucks and I wish I sold 30% of my silver, you know. I think people got like really mad about that, you know. But the reason I did it, David, is because it's the same as what we're talking about, you know, like the stuff got too hot. It just got way too hot. And uh >> and I just I just, you know, it was we I wrote about the whole thing. I wrote about how I'm going to do it. I had trouble doing it. I found a way to do it. I did it. I wrote about it. I was unsure about it by the way. I think everybody thinks that I like know the future. I really don't. I mean, I just thought this is really hot, you know, let me sell some, let me sell some more. And then the thing crashed, you know. I thought I should have doubled my instinct. You know, I should have stuck with my instinct. And uh I don't think there's anything wrong with the silver, but what I'm trying to say is that like $121 was a little a little ahead of its time. I mean, that was like, you know, hot. Really hot. >> Help us understand something here. I want to I want to take a look at how interest rates may affect the broad markets and the tech sector in particular. This is the probability of a Fed hike by this Wednesday. It's at 38% and climbing. It was at 36 this morning. Now 62% and it will hold rates steady. This is a day on Monday when the oil price the WTI and bread fell about 8% on a day when announcements were made that Iran and the US may come to another peace agreement or talk about it. Okay. Why is it that the possibility of a rate hike increased today substantially when oil went down? >> You got you got to love you got to love being alive right now because we talk about things in like 5h hour increments. I mean, >> isn't it great? It's like we say like, you know, all of a sudden today there's going to be uh less bombing in Persia and so you know the two years going to do this and we Okay. I mean, >> I mean, >> so it's no it's a coincidence, okay, that I have this book on my desk, okay, because I've been gone for like 10 days. The it's called Man the Puppet, the art of controlling minds by Abram Lipsky. And um this book is absolutely fascinating because it talks about strategies to like maneuver people around, you know, like if you're at the top of the pyramid. And when you see these articles go out that are like bombing starts again, no bombing again. I mean, imagine that. Like I don't know if you've ever been near bombing, but I mean it's sort of unpleasant. You know, it's not exactly like a high functioning environment when you taking mortar fire. So, so we have this time where we're so distracted that we daily are moving. There's going to be a rate hike. There's not going to be a rate hike. There's going to be oil. No oil. There's too much oil. Not enough oil. Too much gas. I mean, it's constant. So, I think where I really kind of sit here is that is that these things happen on a little bit longer timeline than 5 hours, you know, of of a trend. And what we're seeing is the rates going up. I mean, that's like if you look at the charts, it's like the rates are going up, you know, and so um I I mean I will it be tomorrow, you know, I don't know. I mean, maybe maybe it'll be do we care really what it's going to be tomorrow? I mean, I'm not sure we care. I mean, I think, you know, if Open AI and, you know, some of the Mag 7 are coming up with a deal and interest rates go up 2550 basis points, I'm not really sure it matters that much. I mean, you and I are going to pay for it at the end of the day, you know, because because all of this stuff is paid for by us, whether it's through revenue to these companies or more likely as our life changes. I mean, if you think about it, you know, your life changed during the first iteration of the tech, you know, movement, let's say 25 years ago. your life changed and we sort of we pay for this in this tacet behavior of this new way of life where we have a free Gmail address and we're sort of being constantly advertised goodies to us based on what we talk about and you know what happens around us and all this stuff and we just think it's great we love it so so this is how we ultimately pay for it I mean life changes and our behavior and how we spend our time and what we do with our eyes and where we Oh, is is what you know ultimately pays the the ticket for this stuff. You know, 50 basis points on the bridge loan they use to build the Pike County. You know what? I'm going to go to Pike County, Ohio. I decided just from our talk. I never heard of the place and I love going to weird places. And uh I think I should go to Pike County, Ohio. Is there anybody in the comments maybe can that's in Pike County, Ohio that would like to take me to the finest coffee establishment in town? my treat and tell me all about the place. I'll come up there. I'm always in for I'm always in for a good trip. I just went to Madison, Wisconsin, and out to Frank Lloyd Wright's old uh Talescent, you know, where he lived. And uh that was that was totally interesting, too. By the way, middle of kind of nowhere, but >> I'd love to, you know what? Please do go to Pike County as well as any other site of a new data center and observe for us how these data centers are being built. talk to maybe the construction of the crowd rapidly. I think the people to talk to are are sort of the locals, you know, because the guys are guys and girls running the construction crew. Um, I think they just go one site to the next. I mean, it's kind of like those people that build Walmarts or something like they just travel around in Best Westerns and like build the thing as fast as possible. But I think the people locally, it's like what was here before and you know what's going to be here now and what's that constant humming sound? Uh anyway, and so uh yeah, I mean I've been around coal country and all this stuff. I mean it's got to kind of be sort of similar. I'm now very excited about this. >> Are you you still hold some gold and se silver? Are you selling your gold right now on the back of higher? >> I sold some gold. I sold some gold in the first quarter. What I did is uh in my book I originally talked about how you have physical gold and you have ETF gold and uh then you have gold stocks. I don't I'm not really interested in gold stocks at all. but haven't been for some time. And uh I sold the ETF gold and booked gains and uh I wish I sold a little bit more. I mean I think the physical gold I think maybe you want to try to just not have that. Let me just make this clear to people. >> I see my life like the second book I wrote I told everyone exactly why I live the way I do which increasingly I think is just weird to people. But I put it out there because some people I think have benefited tremendously from it. I see myself as running my own sort of life corporation. And um people that think that they're going to make drastic returns in gold I think are sort of offkilter. I mean I don't understand how that's going to happen. Like they'll say to me, "Don't you think gold's going to do this?" And I say, "No." And they think, "Well, you're not positive on gold." No, I like gold. I like gold a lot. I mean, I wrote a whole book about gold. Have you written a book about gold? No. Okay. So, so gold's worth like what $32 trillion or something like that. Like that's a lot of money, you know, for that to go like to hundred trillion I think is like totally unlikely. And then people say, "Yeah, well 30 years from now it might." Yeah. Well, I mean 30 years from now like I mean you know do you know how many things you could do over 30 years? I mean like I think so I think the way I bought gold back in the day was all about thinking about stability for myself you know. So if I made some money, I would buy a little bit of gold. And then if I made some more money, I would buy a little bit of gold. And then if I made a lot of money, you know, I would buy like a little, you know, like a larger bar of gold. So I just did this for like 25 years. And that's why to me it's like gold doesn't need to be this gigantic percentage of net worth. I mean, it's like there's there is such a thing as as too much of a foundation on your house. You know, nobody pours like a 20ft concrete foundation in their house. It's like, you know, 3 feet does like just as good of a job, right? So, so anyway, that's how I see it, David. And so people, I think they mistake that for me not being positive. And I'm very positive about gold. I just I think you got a big run. And now if you go from 4,100 to like 4,500. Like, who really cares about that? I mean, I just don't understand how that moves the needle because like that shouldn't change the reason I own the gold to begin with, if that makes sense. It's like I I'm sort of happy to have it as part of my foundation, which I want my foundation to get wider. I just don't really need it to get deeper. >> The narrative that the gold price is going to suffer into the end of the year because of higher interest rates. Let's evaluate that. By the way, the Bank of America recently dropped their forecast for gold because of this exact reason. Yeah, I mean these guys are notoriously awful at at at forecasting, but I don't know that interest rates have the same effect that they had, you know, back in the 70s and the 80s and the '9s. I think this was more calibrated to the movements in the gold price. You know, I just like I think the the thing that moves the gold price, like I really really believe this like at the at the core of my of my soul or my EB's generative consciousness is is uh leverage ratios in the futures market. I think the futures market completely controls the gold price. And that doesn't mean there's a person, by the way, that's controlling the gold price. I think that's like a Wizard of Oz type thing. It means that if you change the leverage rates on futures, you change the gold price. That's what I think. And so I have not seen evidence that that rate changes based on interest rate changes. You know, I've seen that rate changes based on uh factors that are sort of like above the pay grade of even wealthy people, meaning um certain people that are pinned down by trades. I think there's some things going on that are like a little different and I just don't think it really matters that much. But I watched this market. I've watched it for 25 years. I feel like I'm I've done a pretty good job of being involved in this market. Kind of got out, you know, with my, you know, with my head not on fire. And u I really believe that, you know, so so I I doubt that interest rate changes are what moved the gold price. I really doubt it. I think the gold price is still working off too big of a run. 5600 was too much. >> It's too much. And by the way, we wrote about it. It's like we we we we talked about this every day. >> We we say it was too much in retrospect, but I remember when it was approaching 5,000, people were calling for 8,000 as the next target. >> So, it just created hype created more hype. >> That's what I tried to tell people in the essay was that you try selling into that. Like I would call someone up to sell, okay? And they would say, "Is Evie Tucker the why gold why now? Are you seriously selling? Have you lost your mind?" And I said, "I'm concerned I might have lost my mind." Do you get what I'm saying? It wasn't like it was obvious. It It was like the thing was going up, you know, five, six% a day. I mean, like, try selling it to that. It's It's frightening. But that's why I don't think in extremes. I mean, I sold a little bit and maybe I should have sold a little bit more, but I'm fine with that. You know, I we made money. We move on. We moved on. We sold mining stocks in April. I mean, that was like maybe a month too late or something, but who knows? I mean, it's not, you know, this is not about perfection. This is about making money, David. It's about, this is what I understand most people. Make money, spend money, enjoy yourself because you're going to be dead. So, what is the point? I mean, there is no perfect way to do it. You got to live, man. I mean, you know, I drugged my kids all over, you know, Martha's Vineyard. We saw everything. I told him, "Next year we'll go to Nantucket. We'll go hang out with Dave Portoy." So, the thing is is that you got to live and you got to you got to keep your train moving. That's that's the thing people miss. It's not about like there is no like thing that you're going to it's going to happen like you're going to get some trade right and then you're you know time stops or something. You got to keep going, man. That's the deal. And and I just feel like I'm the only person that says that. But it really works, man. It really like I I've got a great life, man. And it's not like an accident. >> I mean, this is this is how I got involved in gold. This thing I'm telling you right now, this is my thinking that got me involved in gold like many years ago. It was like too cheap, you know? So, we just got involved. >> Do you get what I'm saying? It's like it's just the thinking that the >> Are mining stocks Are mining stocks cheap right now? by the way, they fall into a reason. They're cheap for a reason. They, you know, it's mostly cheap because the people running them. But I don't see I don't see the upside in owning mining stocks. I really don't. I I I just I feel like if this is the thing that people don't want to hear, David okay >> if the LA if what happened in gold if what happened in gold didn't didn't send it up didn't didn't send your stock up, you should quit. You should do your shareholders a favor. If if if what just happened in gold didn't put your stock on the ceiling, you should resign because >> that is I mean I'm I'm telling you, man. You and I known each other a long time. Okay. You go back to like PDAC 2015 or something when people were like, you know, suicidal over the gold price. Remember this? You go back there and you tell people >> what would happen to your stock if if gold was $5,600. What would they have told you? These executives. Most of these executives, David, they're still collecting huge fees from the companies and they're like telling you now, wait, you know, at 10,000 it'll be great. >> I'm just trying to tell you that the big move happened. Okay. If that didn't change the game, you really have to ask yourself why would you own a mining stock >> is this big. >> I don't have a good reason. I don't have I can't I can't find because don't even tell me about earnings or something. Okay. Don't even tell me about that cuz nobody cares about that, David. That's not going to move the needle. >> Let me end on this note. Offline you were telling me about how a lot of people have been talking about this big collapse in society. big big collapse in the market and perhaps justifying their purchases into gold or any other safe haven asset to prepare for this kind of collapse. Why are they wrong? >> Let's just let's put it like this. What are you going to do the day after the collapse if you've put your whole net worth in gold? I want to know in the comment section what are you going to do? You're going to gonna get in your car and what are you going to have a Fred Flintstone car? How you going to get gas? Where are you going to go? I don't understand the logic. People say the society is going to collapse and I'm going to be smart cuz I'm going to have all this gold. You know what's going to happen to that person, David? Somebody's going to come over and take the gold from them. Okay. >> The thing is is that this the likelihood of society breaking down and you coming out on top is low. You don't have enough ammunition. I don't care how much ammunition you have, it's not enough. And it's an unlikely outcome. And it's a daydream. It's a fantasy daydream. I bet you anything that what happens is is that the better way to live is to flow along and to see all these things that are happening as gigantic opportunities for a better life. >> That's the deal, man. That's what's happening. That's happening right now. >> It's happening. It's h it's going to keep happening. And when you see it, you're not going to unsee it. You're not And then guess what else is going to happen? You're going to say, "I love having gold. I love having gold." But let me tell you something. Like a small percentage of gold is plenty. I mean it's plenty of gold. Like there is a limit to how much of a percentage of net worth should really be in gold. I mean it's sort of insane to to like go way past that limit because you sort of check out of a changing world and there's just no point in that. Like what are you going to do? You're going to sit in the woods with your gold and protect it all the time? I mean good luck man. Like seriously, I think you can I think you can live in a way that's that you learn about gold, how cool it is, how great it is, how much it adds to your personal independence, and you get yourself some gold, you get yourself some Bitcoin, you get yourself a couple other things you need, you truck on down the road, man, and the world gets bigger, not smaller. I think when you think about things with societal collapse, your world gets smaller. And I also think people are wrong. And when they tell me the stuff, they just sound crazy. Because the other thing that is nuts, David, is I'm not even an optimistic person. I I told this guy last week in Martha's Vineyard, I was like, don't mistake me for an optimist. I'm like not an optimist at all. I just think it's insane to think that you're going to have societal breakdown and you're going to own some penny stock or like some, you know, significant number of gold bars or whatever it is you own and you're going to like come out of this as they're going to be writing Forbes articles about you. There won't be any Forbes cuz it'll burn the building down. So, like what I'm trying to say to you is is like I just don't think it works. I don't think it works. I mean, that logic I think is flawed and I don't think people make money and I think it's I think it's like fear-based. And what I want to do is is to live a better life. That's what I want to do. I want to I want to learn about stuff, write a great newsletter, make money, and have fun. That's what I want to do. And I think that's like a better way to live than like digging a hole in the ground and trying to survive an apocalypse that never happens. But I would probably sell more newsletters, David, if I said the apocalypse is going to be on March 18th at 3:30 p.m. East Coast time. Click here to buy my special report about how to dig the right hole to survive. That people, for some reason, they love that, but it's it never happens. >> So, let let me let me ask you one final question. Bitcoin and crypto, you and I were both at the Bitcoin Vegas conference last year. Hugely different sentiment this year. Is there still a case to be made for buying Bitcoin today? I think Bitcoin, yes. The other coins, no. I think I think if you had if you have a small percentage of assets in gold and you had half that amount in Bitcoin, I think you're going to be very very happy. Let me just tell you this. Bitcoin, the value of Bitcoin is like 1.3 trillion. The value of gold is like 32 trillion. >> Massive difference. Now, I don't think apples to apples at all. I don't think they're the same thing at all. It's not it's not like these are two things that are equal. What I'm trying to tell you is that I know for a fact that your life is going to be 100% digitized. And once you see that, you're going to then figure out that there's something about the original Bitcoin blockchain that's fascinating. It's absolutely fascinating. And it's going to go down as this sort of like epic creation that lured the masses into going along with digital surfom. And I think you're going to want to own some of that because it's going to ultimately be something that people are clamoring for. They're going to clamor for it. And there's not that much of it. There's like 20 20 plus million 21 million roughly coins. You don't even need to buy a whole coin. I think that if you had a little bit of it along the way, you'll be thrilled. I mean, >> this current situation in that market is nothing. That's it's nothing. It's literally nothing. I mean, it's it's it's wild for me to listen to like gold people talk about 10,000 gold and then look at Bitcoin at 65 grand and be like, "Man, this is nuts, dude. This is totally nuts." I mean, that's the buy. That's the buy. And not for any reason that people tell you, by the way, you know, when you and I were at that conference, most of those people are pretty goofy. >> In fact, those none of those people like me, David, because they're like, "You're not bullish enough." I'm like, "No, I'm not bullish at all. I mean, I just think it's a great idea to have some of this stuff." And they're like, "Well, what about, you know, all these other coins?" I'm like, "I just got done telling you like the only coin I want to buy is Bitcoin. >> Everything else does something Everything else does something I'm not interested in. Tell us about one trade or investment idea you got right in the last year that you were particularly proud of and why that came out. >> We we we got super I I'm going to say that we got lucky on the there was a smash there was an article that came out by this blogger in February that smashed all software stocks related to AI. Um, we had three that we sort of got more involved with when that happened. It was scary. >> Uh, they all more than doubled from the low. They all more than doubled. I mean, it was nuts. And we wrote about it, David. Every single issue we wrote about it. >> It's not like we knew it was going to happen either, by the way. We we tried our best to talk to people that were close to these companies. We tried our best to talk to experts. We we we tried to manage risk and they just screamed. I mean, May and June was like bonanza time. I mean, they were just ripping. And you know what people said, David? >> Well, I I missed out on it. Well, how'd you miss out on it? Well, you know, I read the newsletter every time, but I just didn't do any action. Can you give me the next one? And it's just like, man, these people are unhelpable. I mean, >> a good newsletter, David. A good newsletter enhances your ability to navigate your own life, and it's written by a human, by the way. That's an adult that has life experience. That's a good newsletter. >> And if you see it that way, you'll consume as many >> How much of your work is AI? >> Zero. >> Zero. AI. We use AI uh to check like the flow of the essay. Uh to spot areas where sometimes I think I've told you this before, I go on tangents and I'll start talking about like dental floss picks that people throw on the ground. I'll talk about that for for half a page and the AI might say you you sort of lost the reader when you you you went in too much detail about that. So we'll cut it down. You know, we'll we'll cut that in half. Right? So the newsletter is like really long, you know, and it's written by fingers. And >> yeah, >> I just I just I'm I'm here to tell you right now as people watching this, believe me, >> you will want to consume things created by humans. Writing music art. >> There is something special about being human. >> And going to see a concert by a machine is not interesting. >> Now, I mean, if it's a person doing the machine, fine. But what I'm trying to say is is that living in a simulation is not cool. >> You want to go see someone paint, you know, sing, dance, play a guitar. This is what life is about. It's why I love tennis, David. I love tennis. I if I was going to die tomorrow, I would play tennis until tomorrow. That's what I would do. There's a flow there's a flow of tennis. There's a flow of tennis that's that's you cannot possibly automate. And >> yeah, >> and it's to be enjoyed. It's a movement. It's a dance. It's a conversation. It's like chess but with a racket and running around and stuff. And you live nine years longer if you play tennis. Did you know that? >> You you'll you'll enhance your lifespan by nine years. That's according to the USA. So, so that's why I like things like playing tennis, like going to see live music, like going to meet with artists and see their work process. I'm interested in these things, David, because I think when people start seeing that watching videos on your phone is like basically putting yourself into a coma. That's what you're doing. You're putting yourself voluntarily into a sed a sedation and you're checking into a place that you're never going to check out of. And I don't understand why people do it. Just look around. When you go somewhere, it's all adults on the phone watching videos. That's all they do. Short videos. I'm not talking about like History Channel videos. I'm talking about like cats, you know, jumping off things. It's moronic. And you don't need to always be learning hard things. What I'm trying to say is you're human. Go do human things and watch how much easier life is. I mean, Evie Tucker is not worried, >> anxious, >> angry, concerned. >> No, it's not that hard to figure out what to do, David. I mean, I spend a lot of time reading and learning and doing things that I think are of high value. And then all of a sudden, I look around and I'm like, "Yeah, let's buy that." You know, it's easy to see. Seems cheap. Let's buy it. >> That's what we do. Okay, you do that for like many many many years and the world looks simple. It doesn't look complicated and scary and drastic. That's when it looks like that, you go you go buy into some doom philosophy. And I don't think it works. And people are never going to stop doing it. Don't get me wrong. I mean, there's a reason why when you go to church, the sermon is about the rapture every week for like 400 years. But what I'm trying to say is is that when I look around, I see a lot of opportunity. And we've done great with it. We've done great and we're going to keep doing great. We're never going to stop. We're going to we're going to always put out a human written newsletter. That's great. And we're going to have fun. >> And sometimes we're going to be wrong and we're going to tell you, you know what? I think maybe we're going to change our mind about that and keep on trucking. >> Yeah. >> Okay. Eie. Excellent. Everyone should check out the EB Tucker letter. The Tucker letter, actually. It's called the Tucker Letter. I'll put the link down below. Uh and uh Eie, it was great to have you back on. Yeah, >> nice to see you. I'd love to see I'd love to see you in person sometime. >> Yeah, absolutely. Hopefully at the next conference and uh and we'll see you soon, Eie. Thanks again for your time. >> Thanks. >> And thanks for watching. Don't forget to subscribe and like this video. Follow Eie Tucker in the link down below to read the Tucker letter and don't forget to use my code lin when you sign up to Koshi. Remember, new users who use my code can get up to $500 when they trade $25. link down below or scan the QR code here to get started.