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The speaker discussed various financial topics, including the performance of companies like Lululemon and Broadcom, the impact of interest rate differentials, and the actions of the Federal Reserve. They expressed frustration with certain financial strategies and commented on market trends and economic policies. The speaker also mentioned specific figures related to stock prices and market movements, emphasizing the importance of understanding these numbers. Overall, the discussion covered a range of financial issues and expressed strong opinions on current economic developments. Good afternoon, welcome to Subscriber Spaces Thursday afternoon, 12-11-25, this is an information only spaces, don't make a transaction without professional advice, and I'm not your professional advisor. I am just delighted to be able to share some time with you. We have some morning spaces, but some people, West Coast and others, aren't able to join, so I wanted to give them once a week, where they could be able to experience live, come in and discuss, and feel like they're a part of the artistic more than just getting the recording, which is recording right now, and I got the better microphone, I just have to learn how to better upload it, I got an external drive, so I'll let someone access it to do it if I'm not able to do it, but I can't think of a better time to be sharing with you as the model that we follow, which is not intuitive, it's deterministic. We love how Lululemon's up $20 at a six-month high, despite missing, and having an un-CEO situation. It's a reflection of an absence of shares. You need really bad news to hurt Main Street now. I'm so excited to be able to advocate for Main Street, mush v. Gore, used to be Bush, but we need mortgages, they're likely to do better than notes for a while, for sure, and then ultimately bonds will outperform mortgages in the process of squeezing out mortgage volatility, and so I had a wonderful day. We got a firm commitment for the fund, the LBTY1, a low beta tally of one fund, that's exciting. It will be proof of concept, it will subsidize the model generation, the animation, the graphics, the deck, and it's wonderful. So it looks like Broadcom's down, it looks like Lululemon's up, do we need to say anything else? Broadcom's down, Lululemon's up, Broadcom's down, bonds up, okay? It's just so, it's so terrific. You have to understand, folks, you're looking at the picture of Dorian Gray, you're watching a car crash in action, you're watching a freight train coming down the track, and you know you're watching it, you know no one else is watching it, you understand that, okay? We're not in GFC, we're not in .com, by the way, .com, I mean, the stock clearly would have had any contraction if we didn't have the 9-11 timers come down and they shut down the planes. We had an 83.6% decline in the NASDAQ, tech stocks fell 90, many of the leading names evaporated, we just had Cisco yesterday go to an all-time high price, but its market cap is like halved because of all the share count reduction. There just wasn't enough business there. You know, we had, let's see what the QQQ did, let's see, where's the watch list, okay. Oh, RH is up 10% after hours despite weak guidance. Lulu up 10% despite weak guidance. Do you hear the Main Street revenge? Are you excited? We love it, we love it. That's with a softer dollar on the rate differential because Europe is announcing they're looking to raise rates next year, these people are insaniacs. Okay, the NASDAQ was down 35, the NASDAQ 100 down 35 versus 21 up for the S&P. That is 56 yesterday, we were 34, 56 and 34 is 90 basis points of contraction. Okay, so what does that mean? Okay, I need you to keep these numbers in mind, I need you to process this, it's so important. By the way, Staples are really starting to catch up to utilities and healthcare, which got pressured after their historic high monthly closes at the end of November because they're a team, they're a team. General up another five, but that's 45 cents down from its high, Dollar Tree is up almost five, but that's only down 160, 175, 120, 50, two sevenths, so that's like 30 some odd percent, 35 cents, but five below, which is much smaller, two and a half cent higher, the highest monthly close was 237, 37 and 19 is 54, excuse me, it's 212, I'm sorry, is it 212 or is it 213, 213, 16, so 13 and 19 is 32, 32 divided by two, 13 is 15 percent below, 15 cent draw, it's got a 15 cent draw, which is, let's see, what's the inverse of that, let's see, it's like less than the 20 cent rise to get back to its all time high. Okay, so let's check Broadcom, see if we can get a decent quote, yeah, it's down five, so it was up three before, 406, 387, oh, let's check, I can't understand these psycho freaks using this word, activist treasure issuance, what is it, Nassim Taleb, or the Persian guy, whatever, you know, the other guy with all the extremity, Nouriel Roubini, this is Bridgewater, and Bridgewater lady, oh my God, she is so talent free, oh, it's unbelievable, activist treasure issuance, what are you talking about, activist treasure issuance? It started with Kennedy in 61, it's not a recovery from the 8th of August, Trump specifically pushed it down and spooked everyone, ay, ay, ay, ay, ay, disco help me out here, I'm losing my mind, what is going on, I'm losing my mind, oh my God, you're so dumb lady, you're so dumb, you are so, so dumb, oh my God, if everything you forgot, you could not unlearn your dumbness, she thinks that interest rate differential is the only thing that matters, you are so clueless, it's such an opportunity, uh, disco, what's going on, I'm crying with the dumbness of the lady in charge of Bridgewater, she's a pure, oh, interest rate differential, lady, have you ever heard of duration annihilation, am I the only one who says it in the world, you freak of dumbness, it's such an opportunity to stupidly these people, fantastic, I wouldn't say this, congratulations for your commitment, I may need to get, I may need to get committed soon, oh my God, let me ask a couple of questions, please, did you hear the Powell speech he gave yesterday, yes I did, and the way he was trying to, I might use the word contributivism, but this is contributivism, and I don't know what the word is, I just know that 480 billion dollars annualized, they're buying 2 billion dollars a day, because we only trade 41, you know, 20 days a month, okay, and then they, they, don't you think it's a matter of time, they'll be buying, uh, bonds, and like the longer duration, they're buying no's, they're buying 3 here, that's like 120 billion, at up to, you know, the problem is they don't know what they're doing, this is the problem, and I said this on October 29th, there's a reason why they decided to get rid of QT on December 1st, it wasn't a decimal accident, they did not want to wait until December 10th, they wanted to find out the problems of getting rid of QT before the meeting, right? And don't you think they did that because of the repo market that they did? Of course, of course, look, a SOFR, a Secured Overnight Funding Rate Contract, is a secure contract, it should be at a lower yield than a non-secured interbank loan, but it's not, and these morons think by cutting rates they're helping, they're making money.