Capitalism for Housing - Is Oil Predicting the Future - Are Americans Feeling Poor - Ep. #207

Welcome back to another episode of the Capitalist Investor where your favorite trio, Derek, Luke, and Tony, dive deep into the dollars driving today's sports and real estate industries. From golf's big deals to home buying versus renting, this episode covers a spectrum of investment insights. Catch up on their antics, get the lowdown on sports contract negotiations, and listen to a robust debate on the current state of the housing market, oil commodities, and luxury spending habits in our latest episode.

1. The Golf Industry's Financial Fairway:
In a spirited round of discussion about the state of professional golf, the hosts—Derek, Tony, and Luke—dove into the swirling rumors of a top player being enticed away from the PGA Tour by a jaw-dropping $400 to $600 million deal. The trio raised crucial questions about the financial structure of the PGA Tour, pondering the tax exemption status of the organization and the pressure on players to perform as revenue generators. They also analyzed the effect of Saudi investment in golf and what this means for the future of the sport and its athletes.

2. Shohei Ohtani's Home Run Contract:
Shohei Otani's staggering $700 million contract became a focal point as the hosts evaluated the implications for the baseball team's finances, including how the deferment aspects influence expenditure. They extrapolated the potential ripple effects on player salaries and endorsement opportunities, painting a picture of what such a monumental contract means for the dynamic landscape of professional athletics.

3. The Loss of Corky and Lenny's and the Cleveland Sandwich Scene:
The closure of Corky and Lenny's, a staple in the Cleveland food scene, sparked a wider conversation about the evolution of dining choices and alternative venues. The hosts shared personal anecdotes and reflected on the cultural impact of local institutions, acknowledging the shift toward new culinary trends and experiences.

4. Housing Market Dynamics:
Nothing sparks debate quite like the American housing market. The hosts dissected Kevin O'Leary's caution about market participation, critiqued the government's influence on housing prices, and discussed the contentious presence of institutional investors. The conversation then veered into a comparison of homeownership versus renting, involving property taxes, maintenance, and governmental policies—all highly relevant topics for any investor considering real estate.

5. Oil Prices and Economic Indicators:
With geopolitical risks, fluctuating oil production, and government stockpiling affecting gas prices, Derek, Tony, and Luke brought a lively dialogue to the table about the interplay between oil commodities and potential recession signals. They theorized about the consequences of the US government's oil purchases on the economy and whether the observed market trends suggest an oncoming recession or not.

Be sure to subscribe for more insightful conversations from Derek, Tony, and Luke, and don't forget to like and comment with your thoughts on today's topics!

#CapitalistInvestor #InvestmentPodcast #SportsContracts #HousingMarket #HomeOwnership #OilPrices #LuxurySpending #PGA #JohnRom #ShoheiOtani #RealEstateInvesting #EconomicAnalysis #PersonalFinance #MarketTrends #FinancialEducation #XboxGaming #ClevelandEats #GolfIndustry #InflationChat

Transcript

0:00

Hello, and welcome to this week's episode of the Capitalist Investor. As always, you have me, diamond hands D, and we got the boys back together again. We got cool hands Luke and Tony the tiger. What's up, man? I'm alive. He's here. I'm alive. He made it. He's. Even though the seven fire trucks waiting as we landed last week freaked me out a little bit. Is there anything on fire? I don't know that I know of? I don't think we got the full story. They said that we didn't have enough gas to get to where we're going. I don't know. I'm just saying airlines are cutting corners or someone's not doing their job. I don't know. Freaked me out. It wasn't even that we turned around, landed quickly. That freaked me out. It's the fire trucks. I've been on a plane where we sat there for hour and a half because they had to take fuel out of the plane because they filled it up too much the night before. And they get the know it's, like, too heavy, but then that's less efficient. And so, well, I still hopped on. Another flight, even though my anxiety was through the roof. I hopped on another flight two days ago to go to another thing that Tony sent me to. I appreciate it, but I had to. Do the pep talk. Be like, you could do this. You could do this. I need you right now. I had to talk to him. I'm like, hey, I'm really not feeling flying. A week after this happened. I kind of want to take a couple of weeks off. It's like, you can do it, Luke. I believe in you. All right, well, what do we got for this week? Oh, man. What kind of picture does that paint on me? Good boss. Good boss. He's pumping me up. Yeah. Giving me motivational speeches. All this is that. It's not how it went down, but kind of a little bit. What do we got, Tony? Tony's reflecting on his life. I'm a good guy. I thought I was a good guy, but maybe I'm not. I'm not. Oh, man. Let me get centered here. All right, so Kevin O'Leary came out. He's the. What's Mr. Wonderful from shark Tank. Right. Came out and said, stay out of the markets. And he's talking specifically the government to stay out of the markets and even more specifically, the housing markets. We'll touch base on that. What are commodities telling us about 2024 and what current commodity prices are telling us? Most people think a quote here from Fox Business. Most people think we're in a recession. Let's talk about that. And then canceled. We'll save that for the end. But there's some big things going on in sports, so we'll talk about that. All right. So Kevin O'Leary came out basically, and said, stay out of the markets. And because the government. So let's put this in perspective. In June of 2023, 26% of the houses bought were bought by a real estate investor, whether it's your local guy buying up some houses or just straight up hedge funds buying houses. And the government came out and more specifically, one of the representatives in California responded and said, the last thing we need is these investment companies coming in and buying up all this stuff and buying up the american dream. And they actually came out and they called it the end of hedge fund control of America Homes act of 2023. Like, this is a bill that is sitting on somewhere in Congress. This gives people political power. I mean, all this does is say, hey, the bad guys are these big institutions that are buying up everything. You should get mad at them because that's why your prices or the housing prices are high. It's because these big guys, not because of us. It's not because all the money you're printing, it's because all these institutions are buying up all the supply. They're trying the blame game. Well, this is your thing. This is right up your alley, Luke. Kevin O'Leary came out and said, that's not capitalistic. Correct. You're crushing capitalism. Because even like Jeff Bezos backed real estate company called arrived is going around buying up single family homes. So your neighbor, soon to be neighbors are going to be renters. Yeah, well, the free markets always create equilibrium in the end as long as the government doesn't get involved. So even if these institutions are buying and over leveraging themselves, buying up all the supply, as long as there's not just one or two or three big dogs playing the game, as long as there's thousands of people playing that game, then creates competition, and then the best will survive and the weak will probably blow up in the end, some way down the road, because they over leverage themselves. They don't have the best product for people to go rent. Things like that. Right. This also creates an opportunity for people to build houses. If things keep on going up and prices of new homes where people already own current homes, then the price of lumber probably will come down as people price of lumber will be able to be more affordable for people to actually build homes. So it creates equilibrium. Well, and plus, I think if large companies buy homes and they buy a bad investment, they will unload that investment where if I went and bought a second home, I'm more. Probably more emotional. I'm not like, I'm going to take that loss. Hell, I'm going to take that loss. I'm going to make this work and I'm going to suck it up and it's going to stink. If I went and bought just another house, I own one house. I'm not going to buy. I don't have any intentions on buying another house, but if I did, it would become an emotional thing like, holy cow, I own two houses, not 200 houses, right? So I think there's something. If the real estate market blows up, these guys will throw the parachute up, which could create opportunities then for the american dream. Owning a home is not all it's cracked up to be. That's all I'm saying. All these people that want to own homes, that don't own homes, I'm like, you're really not missing that much, frankly. I mean, yeah, you got to raise a family. I guess it's nice instead of running like you actually own the property and stuff, but I don't know. Would you go back to renting? Yes. Tony, we almost talked. We talked about this. Well, yeah, I know you do, but I thought you enjoyed cutting the grass with your beer and widening your tractor. No, I'd rather three times a year. But no, I'd go back to renting. But maybe it's just me. I don't know if I can. I enjoy my house. Yeah, I got a couple of different floors. I got my room. You start renting and I just don't. Like when my sump pump goes out and I have to worry every time it rains. Yeah, home ownership is great. It's the cost to maintain it that stinks. When we were kids, I felt like it was held up as this great investment. And you'll buy it for a little and sell it for a lot, but the amount that it takes to keep going, the taxes. Ridiculous. Well, most people do it on 30 year mortgage. Oh, yeah. And then if you do that, you bought your house 20 years ago for 100 grand and with interest and all that over 30 years, you're probably paying like 300 grand. Did your house go from 100 grand to 300 grand from 20 years ago? I mean, in this market it might have probably did from 20, but you're maybe essentially breaking even. Yeah, for sure. And I think Derek made a great point there you never actually truly own your home because you pay property taxes, so the government actually owns your home. That's another whole different point. I'll go back to my libertarian takes if you want me to, but that's what happened. I was watching Happy Gilmore. That's what happened to grandma. She stopped paying her taxes for ten years. Shoot her again from up under, right under her feet. Makes her bedroom the trophy room. Yeah. Shocking. Shocking. All right, so it is kind of destroying capitalism. It is. I understand. I can see through the other lens of, like, it's taking away the american dream and probably skyrocketing prices right now of every house because they're just being gobbled up by people who are cash rich. And I think we talked about that a couple of weeks ago on how many houses are being bought in cash. There's how many Airbnb houses, though, are out there that people, if there is a recession, people will stop traveling, stop renting out airbnbs, then people will be underwater. Then they'll flood the whole market with houses and then prices come down. This is where capitalism always creates equilibrium. Absolutely. And Luke nailed it with this is a complete scapegoat move because the reason why houses are unaffordable is because of mortgage rates, and that's because of the inflation that they created. They basically just tell you that you're an idiot all the time. That's essentially what they're doing. This is a great topic because I forgot about this because I wanted to talk about it. But that's exactly what they're doing. They're saying, hey, look at this over here. Here's the reason that you can't buy a house when we all know what the reasons really are. Smoke and mirrors, man. Welcome to Paul. That's all I have to say about that. That's all I got to say about that. All right, moving on to commodities. What are they telling us of 2024? So oil talked about that before, but fell nearly 4% yesterday after CPI. And what came out today, PCI, PCE, PCE, both came down, showing that inflation is settling down, still going up, just not as fast. Right. But with that being said, oil went down 4% yesterday, and we're hovering somewhere around the$70 a barrel. If I remember, right before summertime, we were somewhere in a$95 per barrel range. And it's crazy that oil usually skyrockets in environments that are going on right now. And what's going on right now? Geopolitical risk. There's two wars going on. Did you guys know that? There's a drought and it's clogging up the Panama Canal. Like you don't have enough water to get boats across the Panama Canal. Did you guys know that? I did not. Yeah, now you do. They're doing oil cuts. OPEC's coming out and cutting oil production while silently, as I mentioned before. We. Are extracting more oil than we have in the last four or five years right now. So I would assume gas would be low because it's being created here in the United States. That's right. That's my take. There's two signals. One, either we're in a recession, which I think goes into our kind of next point with Americans, how they feel, or our next topic, or a production in the US is just extremely high, which it is. And that's why we're seeing prices come down a little bit. Now the question then becomes, why are we producing oil at such a high pace? I think it's mainly because geopolitical risk is probably the highest it's ever been, at least in my lifetime. Well, geopolitical, for one thing, we need to get self reliant. We do. I would say that's number one. Number two, in my opinion, would be that we are coming up on an election year. And I've always felt that a lot of us, I would say a lot of us own a car and have to fill it up. And when you're paying 60, 70, $80 to fill up your car because gas is$4.50 here in Ohio, it's under $3 again. Right. It's cheap. I can fill up my car for $35, and I'm off and running for the next week and a half or whatever. When it's $80, it hurts. That's less money for me to put into the economy and things like that. So I feel that it is twofold geopolitical, but also trying to lessen the burden on the wealth effect. How wealthy do I feel? Putting$80 in my gas tank does not make me feel wealthy. I feel like I got to go home and sit and eat ramen noodles because I just spent all the money I would to go out to eat. It's in my gas tank. Yeah. Any thoughts on that? Well, it feels like we've gotten nothing the second half of this year except demand for crude falling and then OPEC cutting production. Hasn't that happened like, ten times this year? Yeah, it could be signaling a recession, too. We're just not using it right. It seems like they just keep cutting. And I totally understand the point that no one talks about what we're doing here in the US or also the. Government'S buying a ton of oil. Also, even though they're cutting production outside, the government's buying tons of oil to replenish the reserve. They continue to do. I know that they did like a million barrels or something they got to drop in a bag bucket, right? But if it's $70 a barrel right now, they bought it for like 77 or 76, they better buy some more dollar cost average into that. That being said, as you know, this is another thing. Kind of the government at that point is kind of subsidizing oil because they're buying oil with our tax dollars, essentially creating more supply. Yeah, it's driving down prices, but where's that money going that's inflationary somewhere else. This is the question again, the government, we go back to this. We talked about last time with housing, last topic. This topic. It's like we can focus on the government buying oil now and spending money, governments getting involved in the free market system. And this is why, from an investment standpoint, we have to look at. You have to talk politics. We have to talk about politics. I was at the conference has two days. It was very interesting. A lot of people were talking to. I just kind of sat back and was watched people talk, and some people were talking politics at the table, and then someone would be like, oh, well, we don't need to talk politics because our investments don't really matter. I'm like, I'm sitting back there thinking. I'm like, you have to look at what's going on out there in the world because we are so controlled by the government. You have to talk politics. Well, I mean, here's another thing, too. So I remember years ago when a barrel of oil was going down, yet the price of gasoline was going up. And I'm like, what the heck is going on? And the reason behind it was we had all this crude, but it couldn't be refined fast enough. So do we have enough crude and we have enough refineries? I'm sure. I mean, they've learned their lesson, capex, from oil, that they spent a ton of money on making sure that their product gets out the door. Right. You want to be nice right now, the Keystone pipeline XL that was being built, that got shut down, that'd be kind of nice right now for all of us. Yeah, I wonder. It's been off for so long, and I know that it's corrosive material goes through there. I wonder how if they were to turn it back on, it'd be years for them to turn it back on, build it. They'd have to rebuild it. You'd have to redo everything with that. Unless they cleaned it out really well. I don't know what they did. No one does know the answer to that, Tony. All right, so that's what commodities are. So I would say commodities are telling us next year that oil is shaping up to, it's pointing at a recession because it's so low. That means demand's low. And if demand's low, that means we're not shipping stuff. And if we're not shipping stuff, we're not selling stuff and it's just going to arrive next year. That goes into the next topic of. Why people think we're in a recession. Most Americans think we are in a recession. So we talk about this so much. Where's the disconnect, guys? We feel like we're in a recession. Everyone kind of feels like it. But the numbers and the markets and the talking heads on tv that are disconnected from reality, they don't feel as much. It's just like they don't understand what people are feeling. And where's the disconnect go, though? I mean, we talk about this all the time, but apparently we're not in a recession. I don't know. It was actually funny. I was watching mornings with Maria and they get this one guy, he's like a big food distributor and they're like, hey. Maria's like, hey, so all this prices are coming down and you're selling food. Are you lowering your prices? And he's, I mean, there will be permanent price inflation. People are not going to cut the just, unless something thing really bad happens and people just stop spending in general. Wages, okay, even though they haven't kept up fully from when the pandemic started. The materials may go down, but incomes are up. Yes, incomes are up and inflation is up. Right. And really, I think it's negative, a couple of percent, whatever it be when you adjust for real wage wages and inflation. But it's not like extreme. Where's the disconnect then? Are we just getting addicted to spending more money? Is that the disconnect that we have upped our lifestyle and not realized it, not think about it. Has everyone just upped their whole lifestyle? I think they had to, to maintain their lifestyle from two years ago. My question is, has people's lifestyles changed from 2020 to 2023 now, has most people's lifestyle changed as in they've increased the kind of car they own. They've gone with the beamer instead of the Honda. The Honda is just 40% more money. Okay. I think it's combination. Derek. Derek's buying a car right now. How's that going? Not great. My whole life, right. You walked into a car dealership. They want to sell you a car, right? It's not like that anymore. It's basically, here's the price. And the prices of what I would consider to be non luxury brands are as it seemed. If you get a non luxury brand with lots of features, it's basically the same price as a luxury brand. It's wild. It really is. I went to the jeep dealership to see the Wagoneer and the grand Wagoneer thought I would try to save some money. Those things are like, 100 grand. Wagoneer is $120,000. Jesus. Six Honda civics for that price. I still can't believe what I paid for my Ford Explorer. Yeah, I'm kind of looking back on. I'm like, damn, those are the good old days. Whiskey. Those are good old days. But the one thing they're saying, though, is that there is starting to be cracks in the luxury buying sector. So the rich people aren't buying luxury stuff. Gucci's and Gucci's and Louis and rollies. Rollies. Yeah. They're not like, all of that stuff is coming off of its hot. It's pandemic highs, which it should anyway. And somebody's like, well, what are the rich people telling us? I'm like, yeah, they're feeling it. That's what it's telling us, is like everything around us has gone up, and we're all adjusting. And, yeah, like I said, if I'm going to put $80 in my gas tank, I might not go out to eat that night. Yeah, exactly right. All the time. All the time. Oh, yeah. You were to doordash it. Do you get off that hook yet, or are you still. I'm way off of that one. Yeah. It cost $95 to get a burrito delivered. You know what I did, guys? I bought myself, and I invested very heavily into this. Oh, boy. I bought myself the brand new Xbox. That way it keeps me inside a little bit more so I don't go out as much. Go out for a couple of drinks, dinner. We got a gamer. Stay in. Did you get a headset? I did. Oh, man. I'm trash talking everyone. Back in the good old days of. IVX loving turned mine on in, like, five or six years. I think you and I talked about that. Oh, no. I've been trying to find something to turn my brain off and also spend less money. So I spent $500 on buying the new Xbox, and I'm like, this will save me money in the end. Yeah, I can't fault it. I had that mentality years ago, too. All right, let me know how the gaming is going. It's not going good. 15 year olds are crazy nowadays. Yeah, I thought I was good 15. They're going to eat your lunch. Literally insane. That's all they do all day. Yeah. Must be nice. They're like, how do they do that? I don't know. It's like the Fortnite. Everyone's like, can build. Like, I don't know if you guys know that game, but you build structures and stuff. It's crazy what they can do and how quickly they do. It's ridiculous. They do have AI monitoring chat now, which is a wild thing. AI what? Monitoring the chat. Well, you're from the last generation. The pre AI generation, the pregame lobbies in 2006, Nintendo. They're looking for keywords. They'll kick you off of chats and stuff. Really? They're always listening. Yeah, big brother. Always listening. Man, the things I used to say on those headsets. Holy cow. Yeah, it was a wild place. Hopefully, there's never.

Man, wake up the whole house. 02: 22:34

00 in the morning. Jesus. All right. Anyway, back at the ranch, canceled. This is all you guys. So there's actually been two interesting things happened last week, basically, and one is golf. Derek's like, I'm talking definitely. Adding that was John Rom, the number one player in the world. I mean, I know he's top five. They all kind of bounce around, but John Rom is. Yeah. If he's not one, he's top three. Yeah, two or three. Rory. Him. And I don't even know Scotty Schuffler. Oh, yeah, Scotty. He left for the live 600. Well, reportedly $600 million to leave to go to the. What do you want to call that? Like, just the degenerate league? I don't know. It's not the PGA. This is what has me thinking. If they have $600 million to give one player for a four year contract, I think it was, too. If they have all that money for that guy, and they say it's got, like, a saudi funding fund behind it, it's got hundreds of billions of dollars in it to pay these athletes to come over and keep them entertained through sports. Right. I think they're doing it with soccer and things like that, too. Right? If they can give him $600 million, and if he were to stay on the tour, he'd be lucky in prize money to. If he won, like, every event, he'd win, like, what, maybe 60 million? And he's got to win everything. He'd be to become the best golfer ever. Right? And how much is the PGA really keeping to funnel their agendas? They got, like, the first t. Teaching little kids how to golf. That's a good give back. But how much does that cost, the sponsorships, all the PGA tournaments that are going on around the country simultaneously, at every country club nearest to you, they're embedded, so people get excited about the game. Given this guy just like, here's 600 million, why don't you pop on over? And he's like, why not? I can't blame him. So, a few numbers. Rom was second on the money list last year, made $16 million, and he is third on the world golf rankings. Scheffler one and Rory two. But, yeah, they have unlimited money, I think is the answer to the question. I forgot. The PIF fund, public investment fund, they had$21 million. I'm not sure exactly what it was, but we did talk about it this year. I think one of the main takeaways, for me, at least, is that none of this had to happen. Right? It's not about. And Rory McElroy has been making the Headlines supporting the PGA Tour, basically questioning the integrity of anyone who leaves. It came out this week. Rory is not hurting for money. He is financially compensated for being the. Face of the PGA Tour through endorsements, not through the PGA, but, like, Nike. Is that his biggest or Taylor Nike? I believe he is tailor made. The WHOOP is one that was mentioned this week, basically making an extra ten mil just to be the WHOOP spokesperson. And that deal was brokered through the PGA Tour. So it's not about money for the top guys. I think it was really just about. It's always about money. Well, it is about money for the top guys, but the reason the fracture started happening is for the guys lower down the pole, down the totem pole. There was no reason that the PGA Tour needed to keep its tax exemption, and that is really the genesis behind all of this, because they didn't want to give that up. They didn't want to change their structure. They didn't want to pay anyone to play on their tour, even though they're getting all the benefit. And you just wonder how much money was the PGA Tour, the entity, just banking off of the backs of the PGA Tour players, like, they're the ones in the commercials. They're the ones hitting the shots. They're the ones that have to grind it out for 8 hours a day. And none of this had to happen. It's the PGA tourist fault. It's not these. How much are they keeping exactly, to funnel all. I'll call them their agendas, but most of their agendas are just to get the average person involved in know tournaments. Noga's North Ohio Golf association. Like, I play in those events, but they're kind of sanctioned through the, you know, that's kind of where they get their ideas and funding and things like that. And it's fun. Saudis aren't doing that. The real interesting part, though, is that the tour and the Saudis were supposed to be coming together. Now, if they keep on stealing more big name players, it could be. It must not be going well because they were supposed to reach at least a framework by the end of this year and stuff. A framework to merge together, basically. So the Liv taking the top player, he's the top draw, in my opinion. He won the Masters. He's who you want to see play. He's an awesome golfer. But, yeah, it's going to be interesting to see what happens. Because the talk was of the merger that the live was going away. It's obviously not going away if they're paying one of the top players in golf. And these are reported numbers. No one actually knows what they are. But somewhere between 400 and$600 million is the rumor just for showing out. So, guys, you just got to be 1% as good as them. You can make $4 million going out there and golfing, man. Yeah, that's why. Get back out there, weekend warrior. I'll try and figure it out. Well, but then we also talking about broken systems. That would be the salary cap for baseball, because. Shoney. Atani. Shohei. Shohei. Sorry. Terrible with names. Atani is arguably the best generational talent to come into the league in quite some time. He's basically the Babe ruth of our era. I've never seen anybody like it. He can have the most strikeouts in a game and hit two home runs simultaneously. He is an exceptional baseball player. And he just got throw a knuckleball like me, though. No, throws. The heater. Give him the heater, Ricky. That's right. Great movie. They gave him what, 700 million dollar contract. And he reportedly came out and said that's a ten year contract, $70 million per year. He is going to defer 68 million and start paying that, getting that paid out after he retires in ten years or quits or whatever. Smart is it, though? Because there's a lot of things going on with this. Think about what's going on. He's doing it so that the team can continue to spend money and bring on talent to surround him. Cool team player, right? Making $2 million a year. Good for him. Deferring 68 million. Now, that number doesn't change. So what is 700 million worth in ten years? True. It could be the equivalent of a 400 million dollar contract Today, which is more in line. Also, think about what the Dodgers, because that's who signed him, what they can do with that money on advertising, saving that, or investing that money to help pay the majority of his contract for him to take $2 million. The Indians, or, I'm sorry, the Guardians, just signed a catcher for $4 million. I don't even know who he is, hedges. That's why it's 4 million. Not to $4 million a year. This dude's making less money than our one year contract catcher, who probably won't even finish next year. That is crazy. But again, this cat Ashanti, I'm sure his endorsements will gladly make up because he's from what, Japan? So he's going to get all kinds of contracts over there. He'll have it over here. This 700 million that'll get in ten years will be half of his net worth by the time he's done. Yeah, true. Yeah, it's wild, but I don't even know how that's allowed. That's the thing. What's baseball doing? No one stood up and says, hey, that's not good for the rest of us. It doesn't appear to be what happens to the Dodgers in ten years when they have $68 million in salary for someone who's not even on the team. Well, that's what's a Bobby bonilla at. The end of the day. Again, I'm all for less rules and regulations. I know. Yeah. Things can get out of whack when you have a franchise like the Yankees or Dodgers that have probably more money than the Indians. I get that it kind of makes things out of whack for a little bit. But Derek's point is great. This is an investment. If it doesn't work out, let's say he doesn't perform as well next couple of years, right? Like Derek said, he has $68 million in contract per year. For someone that's not even on the roster, this could be detrimental to them in the long term. Right? So I'm all for again. Equilibrium, guys. Equilibrium. Free market. Yeah. Because he just exited the season with an injury like a shoulder. Believe, like, he's got surgery. Never guaranteed. Yeah. May never throw or hit again. I hope he does. I never wish anything. I'm bad on anybody, but never do. All right, so let's wrap it up. Derek, take us. You know, I just wanted to say, driving in today, I heard that Corky and Lenny's is closing, or maybe already closed. Oh, wow. So that is a Cleveland institution, man. That's one of the first places I ate at when I was ten years old, when we were moving here from New York. So shout out Corky and Lenny's. Great sandwiches, great breakfast, right by my house. So, yeah, sad to hear that. It was a great place. Canceled. Canceled. Yep. Corky and Lenny's. But there's still Jack's on the east side. You got slimons. Yeah, slimeman's. You need a corned beef sandwich, man. Yep. There's slimen's downtown. There's one here in independence. I'm tired of food. Food is so good. I look at myself on the camera right now. I'm like, wow, chill out a little bit, Luke. All these conferences that Tony's sending me. To, it is hard to eat. Good on the road, that's for sure. So in the next two episodes, it's going to be winding down for the season. So we'll have some insight on what happened over 2023 and some insight on what we can see coming for 2024. Maybe throwing a stocking stuffer. Stock pick. Never know. Never know what Luke will bring to the table. Wait, now that he's here, and now he's back in town till the 25th. I leave Christmas day. All right. All right. Well, thanks, everyone, for listening. If you have any questions, show ideas, hit us up at info@swpconnect.com and we'll talk to you next week. The opinions expressed in the podcast are for general informational purposes only and are not intended to provide specific advice or recommendations for any investment, legal, financial, or tax strategy. It is only intended to provide education about the financial industry. Please consult a qualified professional about your individual needs.