Sean,

you and I were sent something from my friend, Jack, stuff. I'll I'll fill you in. So basically,

there's this guy named Ryan Cohen,

Ryan Cohen, he started chewy dot com, which is, like, Amazon for pet stuff when he was young. Right? Sean, I think he was, like, in his early twenties.

And

he was aggressive when he started it. He raised a ton of money. He started it out of, Florida. So he is very much an individual thinker. He was like, no, we're not doing Silicon Valley. We're gonna do this out of Florida. He raised like a billion dollars, a huge sum, ended up selling it for three, four, five, billion. I don't know the exact amount. Then it goes public worth,

many billions.

But

after doing that, he made, I think, around, like, six hundred million dollars, like, a huge amount of money. And after he made that money, there was an article written where he goes. I pretty much put all of my money into two stocks. Apple and Wells Fargo. So he put, like, all of it in there. And since that article went live, that means that the money that he put in there has gone three hundred and sixty one percent.

Then about

a year and a half ago,

he noticed that there was a brand that he loved that wasn't doing so well. And he thought these guys could totally revolutionize the game, but they're just really, like, getting they're getting crushed right now. I'm gonna buy ten percent of the company which he did for seventy six million dollars, and that company was GameStop.

And when he bought GameStop,

that's when this whole

like, meme stock thing went down because everyone was like, Brian Cohen bought it, and he actually it worked. He turned the company around, or at least it's in the process, but it's being turned around And his seventy six million dollars, he turned in to one point one billion, and he currently still owns, like, thirteen percent of the company is on their board of directors. Now,

Just this morning, it was released

or announced that he just bought ten percent of Bed Bath and Beyond.

So he's doing the same thing. And this guy is a madman. I think I'm almost positive. He's still only thirty four, thirty five years old. I also researched on LinkedIn. I'm almost positive that it's just him, like he doesn't have an employee.

Maybe as an assistant, but it's like just him, like searching around for stuff. So

this man's crazy, and I love him. Up sixty percent.

So his money's already up?

Yeah. Okay.

Is amazing. I feel like there should be, like, a ticker for just, like, stocks

that aren't small that have fallen like eighty plus percent from their highs. It's like what crazy operators wanna like come in here and totally turn this thing around. I feel like you could also have a podcast about that where you just like you find a stock like Bed Bath and Beyond and you're like, look highs were at eighty dollars. It's now at, what was it before this? Like, six dollars, like, What would you do if you were operating this business and have people, like, come on and battle, like, jeopardy style and see who comes out with the best strategy? That's kinda cool. Yeah. Right now, like, a whole bunch of growth stocks that are down, you know, somewhere between fifty and eighty percent from their all time high.

And, you know, stocks like zoom and,

you know,

vastly and a bunch of others. And,

there's, you know, there's, like, kinda, like, that one buffet phrase, you know, be, be greedy when others are fearful and fearful when others are greedy.

And,

it sure does seem like now is it a good time to be greedy when others are fearful Right? Like,

there's a lot of, you know, opportunity everywhere in the market. And so you, you know, if these are things that you believe in, on a ten year time scale, then, like, this is a fantastic entry point.

Here's another interesting one. So I have I was thinking about this bed bath and beyond and Gamestock, and my friend Joe sent this to me. So have you guys remember express?

Yeah. I don't know. If they if they have that in Canada, stuff, but express mostly women's clothes. It's like it was like, fast

fast fashion before that was, like, even called the thing. So,

like, it was market cap is. I think their market cap is two hundred and fifty million dollars right now, but their EBITDA is a hundred and fifty million.

So I think Express is an interesting one too. Yeah. But you gotta look at, like, the debt and all of these other obligations. They have a they have a ton of debt. Yes. They have a ton of debt. That's the problem. They've got a ton of debt. Jack was, like, I, Ryan Cohen is basically, he's doing the Ty Lopez playbook

of buying old retailers and spinning them into, like, you know, e commerce and sort of rejuvenating these big old brands.

You know, he's doing the same playbook as Tylopez just without being Tylopez,

which is actually

a great idea. In general, that's a great business plan to follow.

Do the Tylopez playbook without Tylopez is, like,

a great, great idea.

When people talk about buying when the, like, buy buy the dip, I hate that. I'm because I'm like, I don't I don't have any money to buy it. To the debt.

Yeah. Like,

that's what I gotta do. I don't know whenever people say buy the dip, I'm like, with what? I I don't own anything. What do you what do I do? Well, you don't keep any, dry powder. I feel like is that you're always mister, like, safety net with cash and other things. You have dry powder. Why aren't you buying the dip?

I have a hundred thousand dollars in cash. Oh, wow. Okay. To have a way more in cash.

Now that now that you're short term real estate mogul, you've deployed everything or what?

I've deployed everything. Yeah. I don't. I yeah. I don't have that much cash. I don't have it. But do people just hold, like, keep cash in a checking account?

Yeah. Certainly. People do that. They do CDs. They do, you know, different, like, different versions of,

like, a market neutral, like, you know, cash position.

I own bonds. I own a ton of bonds seven figures of bonds, but I guess Why can you do that? Who who told you to do that?

It's five percent of my net worth is in bonds? Who told you to do that?

Don't nobody buys bonds on their own.

Everybody gets told to buy bonds.

My my a lot of my portfolios and ninety ten. So ninety percent equities, ten percent bonds. You know what? You know, like, do you own a bond? I don't have a single bond.

Step, do you?

I don't own a single bond. Really? But I feel like Sean's right. Like, what what rate are you getting on these bonds? Aren't interest rates at like zero? Yeah. Nothing. Like two percent.

Yeah. Oh, no. It's just like traditional. Yourself into a money losing position. Congratulations.

Well, actually, that's a good question. With with havoc going on right now, Sean,

from one, is your net worth down from one year ago today if assuming you did not add any new cash?

Yeah. For sure. One year ago, because one year ago was like a market high. Right? Like, if you're talking about right after the COVID bounce, So, like, let's say COVID crash, then COVID recovery all happened in, like, a three month period or six month period, basically. So let's just take the all time high last year.

Today,

I gotta be down

twenty five, thirty percent easily, easily thirty percent.

I would have thought it would would have been a lot more because of you have more high risk stuff.

Yeah. But, like, a lot of my stuff's in Amazon stock and Amazon stock has done fine. You know, it's down a little bit, but,

Yes. That one's not so bad. And I would say, like, you know, that's a pretty large position. So that's not super that's not very risky, in my opinion. And,

you know, crypto,

cryptos, you know, down whenever thirty thirty percent, thirty five percent for last year, most of it, But I have a few, like, altcoin bets that have done really well. So, like,

I was on here talking about Luna not long ago. Luna's up a hundred percent. So it's like, you know, that that double hold while other stuff went down thirty percent. So it's okay. You know, we'd do alright. Alright. But Sean, where's your psychology at? Because I feel like, you know, everyone knows the strategy. Like, yep,

buy low, sell high. But when this actually happens, when all your stocks or all your investments go down, it's like so hard maintain that psychology and be like, oh, yeah, I'm totally gonna put more more money in the market. So are you, like, is your conviction still as strong as it

to be? Are you like, yeah, this is like awesome? I'm gonna buy the dip, or are you struggling?

Quick interruption. Do me a favor.

Scroll down, and you're gonna see a link to the hustle. So if you wanna stay up to date on the tech and business news, you need to know, check out the hustle. It's a daily email. I used to help write it. I love it. So check it out. Scroll down below. Let me guess. Don't talk Sean. Don't talk yet. Okay. I have a feeling that this means nothing to you and you're totally cool. About this.

It's actually even better. I don't even look, like, I don't look at it because I'm like, oh, why would it look? It's just gonna be down. So I just don't look, which means I don't think about it, which is actually, like, the correct way I should have been doing it altogether, right, waking up and seeing green,

put a nice little pep in my step, but was sort of this, like, false, positive

And,

and now I just don't look because I'm like, oh, yeah. Of course. I'm down five percent again today. Like, what? I just lose five percent every day, like, two percent every day. That's just like a an average day now. So I just don't need to look at it, and because I'm not looking at it, it doesn't matter. Cause I wasn't selling I wasn't selling when it was going up. I'm not selling when it's going down. So really matter the day to day fluctuations of it. So now it's just I just get some time back because I don't, like, want to go look at it because I don't wanna see any carnage. So I'll just, like, kind of ignore it and just go about my my day. And,

you know, I kind of, I'll pause. I'll ask myself, you know, has anything changed? Meaning, do I view these investments differently now. Do I do I no longer believe that these are good good investments to be in over, like, a five to ten year period? No? Okay. So then, you know, what am I thinking about? There's nothing nothing nothing to think about, essentially, at this time. Do I buy the dip?

That's one where, you know, sometimes I lie I do like to just chill. I just, like, sit on the sideline for a bit.

Because I'm a pretty, like

I've spent a lot of time in my life gambling. Like, I literally played a lot of poker, a lot. Like, I've spent so many days in a casino. And so I know the feeling of chasing a loss, trying to win it back. And,

and so I just like to make sure that I'm not doing there's a difference between buying the dip and chasing a loss.

And, you know, throwing good money in after bad. And so just trying to differentiate between the two. Like, am I on tilt? Or do I actually believe that, you know, this is a good good entry point and, you know, whatever else? So I would say the one thing this does do is it heightens my focus on earning money because, like, oh, I need to, like, earn money. I can't just rely on my investments, you know, completely. So, like, what do you know? I got off my ass. I taught my course, and I, like, submit my invoice for for the podcast. And I, like, I do things that are, like, will bring cash in because otherwise, you know, it's easy to get lazy when when everything's just going up so much. Right? There's many days where you could just look at your portfolio and just be like, wow. That was a whole year's worth of salary just today. Swing, like, swing up. That that kinda makes you kinda lazy to, like, do the work that day in a way. Right? Because it's like, oh, well, this if this just could earn that much money just doing nothing every day, like, Why do I need to go hustle for that, you know, that next dollar? I feel like a lot of people are feeling that way. They're like, oh, right. I have to work. Like, this doesn't last very healthy. Very healthy position to be in.