The Fear of FANG Stocks

Featuring Jesse Felder

Jesse Felder takes a scalpel to the FANG stocks, breaking down – one by one – exactly what investors need to be concerned about. From question marks over their digital advertising model to declining sales and cash flow, Jesse asks when price insensitivity in the tech sector will finally flip. Filmed on October 20, 2017, in Oregon.

Published on
30 October, 2017
Topic
Macro, US Economy, Technology
Duration
35 minutes
Asset class
Equities, Bonds/Rates/Credit
Rating
32

Comments

  • AW

    Anak W.

    25 12 2017 07:01

    2       0

    just want to point out something. according to jesse, he said monopoly definition is companies which profit from expenses of customers. well then, if amazon is a , as you said, "monopoly," but it does not profit from expense of customers. Why is it bad?
    regulation will occur, eventually, if its started to trend in the bad monopoly direction.

  • GF

    George F.

    5 11 2017 12:43

    0       0

    Apple claims iPhone 8 sales are great, including in China. iWatch might have a future as a business device for employee messaging and tracking. I noticed them in some medical uses like hospitals. Might not be true, but that is the claim. I have no comment on iPhone X, but why can't Apple sell 2 iPhones, one luxury X and one workhorse 8? Like cars.

    Amazon really is not a monopoly. They seem to be shooting for being one of the big three in every product area. You won't save JC Penny by stopping Amzn. You might keep JCP around an extra decade, but JC Penny's problem is the internet. I remember when the idea behind Sears was the great real estate and locations.

    I vaguely remember people claiming the internet could be saved by targeting microsoft. Something about bundling a browser into the operating system.

  • CG

    Chuck G.

    3 11 2017 20:27

    6       0

    UGH - You may be right at some point, but re FB/GOOG, ad dollars are moving online, period.
    Re insider selling, Marc Benioff has been selling CRM stock for years, hasn't seemed to matter.
    I'm a value investor, but RV is really becoming 'bear porn'.
    I tend to agree more on AMZN and perhaps NFLX, but still, it'd be better to see both sides, would make the argument more cogent.

  • JM

    John M.

    3 11 2017 13:47

    1       3

    How do you invest if both of the following statements could be true?
    1) In 10 years, none of the FANGs exist
    2) The FANGs triple in the next 36 months

    • SB

      Stewart B.

      21 11 2017 22:46

      0       0

      Best comment!

  • PC

    Peter C.

    3 11 2017 06:11

    1       0

    RVTV - Great to finally see some specific stock coverage. Would love to see more eg BAM, RY, BRK,.... or some real depth into these Tech stocks

  • PC

    Peter C.

    3 11 2017 06:06

    2       5

    Jesse you are so so negative, you sound like you need psychological help .... Being long FB, GOOG, AAPL, I do appreciate hearing the other side. You trashed every stock covered which made it hard for me hear anything you said. And it wasn't in the context of your everything bubble. Plus everything said was very shallow and in a whiny format :(

  • JT

    JF T.

    2 11 2017 20:50

    1       7

    I stopped listening after his comment about Bitcoin. Clearly living in another decade

  • KP

    Krishna P.

    2 11 2017 16:55

    1       0

    Now listen to this for a complete different spin - https://www.bloomberg.com/news/audio/2017-10-27/scott-galloway-discusses-four-world-conquering-companies

    • PC

      Peter C.

      3 11 2017 05:53

      1       0

      Scott is much more balanced

  • JT

    Jayne T.

    2 11 2017 15:28

    1       0

    Amazon: About 84% of Q3 profits from Amazon came from the cloud which suggests profit margins on the rest of the business is very low.

  • B

    Bob .

    2 11 2017 08:26

    0       0

    Good interview.

    History will be repeating itself. FANG stocks plus a few close friends will likely be the poster children of the next downturn.

    Who knows about timing or the trigger for the next fall back to reality, but what we do know is that it WILL occur. Anyone who truly doesn't believe that? Enjoy, but also prepare. Deny at your own risk.

  • B

    Bob .

    2 11 2017 08:20

    3       0

    A 30-minute format is much too short. There is no chance to dig into any one topic. Please consider going back to the more in-depth format.

    Thanks.

  • SW

    Sebastian W.

    1 11 2017 13:39

    0       1

    Amazing interview !

  • IA

    Ibrahim A.

    1 11 2017 08:13

    4       2

    I feel Jesse is looking at the Google / Facebook angle based on the old advertising paradigm. Unilver and P&G benefited from a world where information was not democratised and consumer attention was attained through TV and traditional. Their products and brands are not well suited to a world where information has been democratised and niche brands can build direct connections with passionate consumers rather than the masses. I feel his bearish disposition means that he isn't being as critical of news that fits his narrative as he should be as an analyst.

  • M.

    Milton ..

    31 10 2017 19:58

    4       0

    Here's the link to the article Grant spoke of in the interview: https://www.theatlantic.com/magazine/archive/2017/09/has-the-smartphone-destroyed-a-generation/534198/

    • MS

      Matt S.

      1 11 2017 04:46

      4       0

      "She told me she’d spent most of the summer hanging out alone in her room with her phone. That’s just the way her generation is, she said" - so depressing. No one under the age of 16 should be given a mobile phone.

    • PD

      Paul D.

      1 11 2017 10:22

      2       0

      Matt, I am reading the book at the moment and it's not like that at all. The author has done years of research into Baby Boomers, Generation Xers, Millenials and as she now calls the iGens. It is backed up by lots of statistical analysis it shows a clear and sharp change in this cohorts behavior from previous generations at a time smartphones became commonplace. She does not suggest it is either good or bad, just a change is happening. For example, though the incidence of teenage suicide in the US is increasing, the rate of teenage homicide is falling - symptomatic of a generation who just doesn't go out as much. Having 2 iGeners at home it's been a very interesting book for me to read.

  • AB

    AJ B.

    31 10 2017 18:41

    7       3

    I like Jesse, but to insinuate that Apple may be in trouble because smartphones "don't make us feel good" is an investment thesis that below par. First off, it's not true. The Atlantic is prone to writing gloried garbage. Second, people didn't stop driving cars in the early 1900's because a few car accidents.

    I understand it's a softball interview, but it would be nice to see Grant pushback somewhat. The notion is so absurd.

    • EF

      Eric F.

      31 10 2017 19:19

      2       0

      Agree. Also look at the PE of Apple, it's literally a fraction of the rest of the FANGs, so need to be careful tarring all with the same brush. The comments on the Apple Watch were lame, shortsighted and lack any analysis. The watch does appear to be growing at a significant rate and building traction at a rate faster than the iPhone. I remember the negative comments when the iPhone came out, Grant's comments sound similar (i.e. very 2007). Disappointing overall.

    • RM

      Robert M.

      31 10 2017 20:13

      2       0

      You didn't actually read the articles and book precis mentioned (I have linked them below) did you.
      The Atlantic article was written by the author of the igen book he mentioned. So it isn't garbage from the magazine.
      And it's not a few car accidents is it (which would in any case have been on par with and most probably less than the many horse and buggy accidents of the time). No, it's an epidemic of anxiety, depression and suicide among the young. Why is it not true that suddenly seeing a generation of kids moving their free time out of the big world and into their bedrooms might just be the cause of this mental health epidemic?
      It's hardly an absurd thesis. This bad situation may continue a long time however. The PE of APPL is low and parents may just continue to choose more anti depressants etc for their kids rather than take away the toy. The feature phone is a good first step toward health!
      Atlantic article: https://www.theatlantic.com/magazine/archive/2017/09/has-the-smartphone-destroyed-a-generation/534198/
      Igen book: https://www.amazon.com/iGen-Super-Connected-Rebellious-Happy-Adulthood/dp/1501151983

    • MS

      Matt S.

      1 11 2017 04:40

      0       0

      "First off, it's not true" - oh really? Where's your evidence that it's not true? I feel depressed when I overuse mine and feel very happy when they are off or away from me. So there's 1 anecdotal account! I want to see your mountains of proof that "it's not true"!

    • PD

      Paul D.

      1 11 2017 10:25

      0       0

      She does clearly make the point you refer to Matt. Online activities (pretty much all of them) are linked to increased depression, off line activities (sports, meeting friends, volunteer work) have the opposite effect.

    • EF

      Eric F.

      1 11 2017 14:52

      1       0

      Jesus, excessive use of almost anything is bad for you but that doesn't make smartphones / the iPhone bad for you. Not everyone who has an iPhone and / or uses Facebook is bloody depressed. Also, in balance the rise of smartphones has been more good than bad. Just look at the progress its has enabled and supported. It can be distracting but where do you draw the line? We ban cars and go back to horses because (some!) people get knocked down? The interview wasn't balanced and it didn't really substantiate with facts. I know RV had a bad experience with Google but to be fair trying to market at the end of the sales funnel with a new product was bad marketing and doomed to fail. RV needed something at the front (of the funnel) to provide product awareness and to attract interest for conversion later down the funnel. RV learnt this lesson the hard way and things like the podcast are fulfilling that function, but that doesn't make Google bad because you misspent your ad budget in the wrong place. I am actually not a fan of Google but search has been incredible for enabling and measuring last click conversion, but people tend to forget about the whole path to conversion.

    • KP

      Krishna P.

      2 11 2017 16:58

      1       0

      Apple - A product with margins of Lamborghini and volumes of a Toyota. It's a quality product! Grant needs to push BACK! These interviews are all just bearish.

    • DB

      Darko B.

      28 11 2017 22:40

      0       0

      Just because you don't understand and haven't done the research doesn't mean it's below par. I seriously doubt someone like this guy would come out with a statement like that based on a fluffy data. If you bothered to actually do the research yourself you would see that FB entire business model is to exploit humans psychological problems. As for smartphones, there is more than enough research out there which talks about the negative impact they are having. Anxiety, depression are all increased because of smartphones. There is even a condition call "Phantom Vibration" which affect almost 90% of users. It's basically impacting our nervous systems. So it's not his thesis, it's a fact, backed by research. It's your comment that is below par.

  • SA

    Sreenath A.

    31 10 2017 14:13

    2       0

    Interesting interview. It is always good to hear others' opinions as well. As Mauldin puts it, there are a lot of echo chambers out there that tend to reinforce our opinions, however wrong they are!

    This picture is worth a thousand words. See how many times Felder's name came up regarding perma bears warning of a market crash!

    http://realinvestmentadvice.com/wp-content/uploads/2017/10/bears-chart-Wall-St-Bean.png

    • VV

      Vanessa V.

      1 11 2017 01:51

      6       0

      I understand your concern, Sreenath. Yet I believe that many of the warnings and concerns of the people on your link are justified. A good example is Steph Pomboy's tweet this morning: "Market cap up $8.2t over 2years, while gdp up just +$1.3 and corporate profits down -$52b". All is not well in the markets even though prices are rising. What happens when reality sets in, as I am sure it will at some stage?

  • MS

    Matt S.

    31 10 2017 12:36

    7       0

    RVTV back on track! That was the antidote needed to the anathema that is the ongoing CFR series.....

  • MS

    Matt S.

    31 10 2017 12:21

    1       0

    Do we have the link to the Atlantic article Grant mentioned he would put up?

    • R

      Ron .

      31 10 2017 16:40

      0       0

      did you ever get a link? I can't find one supposedly having been posted under the video. Any link out there?

    • M.

      Milton ..

      31 10 2017 19:58

      2       0

      Here we go: https://www.theatlantic.com/magazine/archive/2017/09/has-the-smartphone-destroyed-a-generation/534198/

  • MS

    Matt S.

    31 10 2017 11:30

    8       0

    So... silicon valley giants who spy on and manipulate the population hand-in-hand with the government, need to be regulated by... the government? Hmmm.

    • JC

      John C.

      2 12 2017 20:24

      0       0

      Yeah it's a weird dynamic isn't it? Somebody needs to regulate them as they are out of control monopolies that steal our information (or we give it to them, under threat of not being about to use their platforms and be 'connected'). I guess it's gotta be the government at the end of the day, so they will screw it up somehow.

      FANG lobbying is kicking into overdrive so who knows what will happen.

      One highly annoying thing is that almost all these tech guys made their millions in the internet which is one of the most unregulated free-markets out there...and then when they get rich they all go on to promote destructive 'progressive' socialists policies in real life. So hypocritical.

  • DP

    David P.

    31 10 2017 10:23

    3       1

    Yep, i see many libertarians being freaked out by government. Often for good reasons.
    Thing is, ex-US (maybe...), if you live in a western democratic society, those monopolistic data behemoths are way way more dangerous for your economic and psychological freedom than your own government.

  • KS

    Kathleen S.

    31 10 2017 09:55

    0       2

    Doesn't get bitcoin -- comparing bitcoin to another type of security is wrong analogy, - new techonology has been created and now is beginning to be discovered by the masses. It is a network effect and it will grow and grow and grow as more people come on board. Real Vision you need to get Andreas Antonopoulos on to educate your audience.

    • TA

      Trevor A.

      31 10 2017 17:56

      0       1

      Andreas Antonopoulos is a bad representative of Bitcoin but other than that I agree. I like Jesse's work a lot but I do not think he has taken the time to learn about Bitcoin yet.

    • MR

      Marten R.

      1 11 2017 09:47

      1       0

      Bitcoin - it's different this time.......................................
      Crypto and blockchain technology must be separated from price.
      Whilst there might be merit in cryptocurrency and blockchain upon which it's built... how does one justify the price of Bitcoin (et al).?
      The marginal cost of production (i.e. mining) is NOWHERE near US$6,524.98 (which is what BTC is trading at right now).
      So... there's more demand than supply of BTC, pumping the price to the stratosphere...
      Price does not equal value.
      So when (not if) this bubble pops... watch out below!

  • PB

    Pieter B.

    31 10 2017 07:55

    2       0

    Excellent interview! Thanks a lot!

  • RR

    Raj R.

    31 10 2017 06:30

    1       0

    I thought amazon was a bubble but capex has increased 16 fold since 2010. You watch out for this beast

  • RR

    Raj R.

    31 10 2017 06:29

    1       0

    Im not sure about amazon being in a bubble. There are atleast 5 new businesses like startups within amazon that could each easily be 100b in revenue in a decade. Only the feds can stop amazon. I thoug

  • GA

    Greg A.

    31 10 2017 03:28

    0       0

    I could listen to these two all day. Throw in Dave Floyd, Fleck, Raghee Horner and Brent Johnson all in one place discussing macro and I feel totally blessed. Well done!

  • MR

    Marten R.

    31 10 2017 02:18

    13       0

    This is great stuff, well done.
    It's either brave or stupid to get short whilst relentless price insensitive bid levitates these stocks.
    I think as a follow up or adjunct it would be very interesting for RVTV to analyse the liquidity 'supply chain'.
    Where is it originating? How is it being distributed? What are the key risks / signs to watch in relation to such liquidity either drying up, or changing direction?
    It's not enough to be independent and right. You also gotta be - on time (which is a part of being right, particularly if you're short or leveraged!)...
    So understanding liquidity will give you all the clues you need to be independent, right and - on time.
    MR

  • LK

    Linda K.

    31 10 2017 01:49

    3       0

    This is just brilliant !
    We were lucky enough to be at Bend with Jess, Grant, Bill etc and had an amzing time.

  • ns

    niall s.

    31 10 2017 01:21

    10       0

    Entertaining and informative , but the only money I have ever made from a RV inspired short was from the modest American Lady (China expert )about 4 months ago who said VIPS was a fraud and to get short , she has paid my subscription many times over .

    More like her please and BTW what happened to the trade ideas .?

    • RA

      Robert A.

      31 10 2017 02:55

      0       0

      And I thought I was the only one. Did my usual poor trading and have been out a couple of weeks....but my amortized subscription cost ten years out= 0

    • JM

      John M.

      31 10 2017 03:53

      0       0

      I think you are referring to Anne Stevenson-Yang. Smart lady & great trade idea!
      Hope they invite her back sometime.

    • MS

      Matt S.

      31 10 2017 12:55

      1       0

      Yeah I was watching that, waiting for a good entry - then forgot about it. Then saw it was way down. Annoying.

  • SR

    Steve R.

    31 10 2017 01:02

    11       0

    Just brilliant! Jesse summed up what I've been thinking/saying for a very long time now.
    I'm convinced there will be a massive global backlash against social media and the privacy/intrusion issues in due course.
    IMHO so-called smart phones just make smart people dumb :-)

    • MS

      Matt S.

      31 10 2017 12:53

      0       0

      I really hope so. Facial recognition.... what could go wrong? lol

  • SD

    S D.

    31 10 2017 00:33

    4       0

    This was really great. This is the sort of stuff you just don't get elsewhere. Thanks.

  • JH

    Jesse H.

    30 10 2017 22:59

    2       0

    Fascinating interview - thoroughly enjoyed it. While the FAANGs are clearly in a bubble, when you look at the massive bid from the large macro bubbles out there, it is hard to see when/how this will unravel.

  • RA

    Robert A.

    30 10 2017 22:46

    11       0

    Just what RV TV needed after the, shall we say “controversial” World on the Brink....a great classic vintage RV interview featuring a couple of .400 hitting Allstars. This one was a dandy and my “watch again” might really pay off 18 months from now when the advertising shift away from FB and Alphabet could begin in earnest. I would like to mention the exceptional “detective work” done by Raoul when he began looking into RV’s advertising budget expenditures a short while back. I’ve read his work countless times on looking under the hood on those “clicks” RV paid for without getting Value. I was SO impressed with Raoul’s persistence in getting to the issue—are we getting value for our Ad budget or not!?

    • PC

      Peter C.

      31 10 2017 05:44

      2       0

      Where is Raoul's "clicks" work? Thanks

  • SW

    Steven W.

    30 10 2017 22:32

    5       0

    Let's watch Amazon put it's new headquarters in DC and hire several hundred lobbyists while bringing thousands of jobs to the beltway.

    • DC

      Daniel C.

      30 10 2017 23:54

      1       0

      hahaha

  • DH

    Dominick H.

    30 10 2017 21:57

    1       1

    Great interview! I think everyone knows FANG is in bubble land, just like DOTCOM days in year 2000. Million $ question is when (not if) it's going to pop and how to capitalize on this idea . “Markets can stay irrational longer than you can stay solvent.”

    • GG

      Glenn G.

      4 11 2017 04:32

      0       1

      I did a quick scan of Jan 19/19 put options at strike prices closest to current market values on all of the FAANNG stocks. They all seem to price in the 10-17% range of strike price. In the case of Nvidia, a $210 Jan 19/19 put trades for around $36. If the stock drops by 30% down to $147 your puts would be worth at least $63 for a 75% return. I think we are much closer to peak valuation (15x sales) on this one. Seems like a nice Ron Popeil "Set it and forget it" trade for the next year.

    • SB

      Stewart B.

      21 11 2017 22:54

      0       0

      I keep asking myself the same question. All I can come up with is that once Trump's tax plans are fully known, the hope will be gone. That's not necessarily saying that his tax plans will be a let down (though they might) or that FANGS are affected much by tax, but it does seem to be part of what is driving the psychology of the US market.

      Only a guess though!

  • SW

    Steven W.

    30 10 2017 21:43

    0       0

    Jesse's full presentation with slides was absolutely phenomenal at Brasada.

    • CR

      Charlie R.

      30 10 2017 22:04

      0       0

      Did you attend conf? Do you know if it's posted somewhere? Thanks!I was already looking for it!

    • SW

      Steven W.

      30 10 2017 22:31

      1       0

      I attended, but it wasn't recorded. Immediately afterwards a few of us mentioned to Grant that the entire presentation really should to be on RV.

  • MB

    Max B.

    30 10 2017 20:23

    2       0

    I am struggling to see clarity in this market at the moment because with the ETF model I keep asking myself........will there ever not be a bid??? The very fact I am asking this question scares me.......

    • MS

      Matt S.

      31 10 2017 12:45

      0       0

      Rest assured....... it's NOT different this time.

  • DK

    Damian K.

    30 10 2017 20:00

    3       8

    Jesse is good and is able to articulate his views well even if I don't fully agree with him. But for Grant, it's all about personal anecdotal evidence which adds no value and is so biased. Would be a much useful discussion if you had somebody with opposing views to those of Jesse...just my two cents

    • MR

      Marten R.

      31 10 2017 02:22

      5       0

      Actually, Grant has a deep and well researched view.
      I subscribe to Things That Make You Go Hmm... (his newsletter).
      In that forum he goes into great detail and he has already released a couple of issues which dissect these exact same issues / stocks etc.
      I suppose, in this forum - he's the interviewER... not the interviewEE.. so he has to let Jesse (or other) do most of the talking...

  • AA

    Aaron A.

    30 10 2017 19:53

    10       0

    I was able to see Jesse's outstanding presentation in Oregon at the Roundtable conference. Thanks for going over this RV. I hope more people go and look into the fundamentals of the FANGs. Only wish this conversation was longer and more in depth.

  • JV

    Jason V.

    30 10 2017 19:50

    6       0

    Excellent work by Jesse, as always. Combined with Julian Brigden's work on 'classic bubbles', this all makes for a very compelling argument.

  • gg

    gurdeep g.

    30 10 2017 19:38

    1       0

    Nice to see the beard back Jesse! Great stuff as always, this interview gives points beyond investing

  • MB

    Matthias B.

    30 10 2017 18:48

    8       0

    top notch discussion with some unique aspects which were highlighted and are non consensus info. would have wished for a longer one, as well as for the B Fleckenstein one. that was RV vintage! more of

  • VP

    Vash P.

    30 10 2017 18:12

    9       1

    I agree with most of the interviewees on the medium to long-term bear view, but I really think RV needs to start bringing bulls in to interview. Every great investor says that one of the most important things in their success is to talk to people with the opposing viewpoint and see where you might have tunnel vision, and I don't think we're getting that here. Everything from the Weekly Hacks to the interviews to the other newsletters are almost exclusively bearish, and I'm afraid I'm not getting any views from the other side.

    • TW

      Thomas W.

      30 10 2017 19:26

      13       1

      I get the sentiment. But that's what bubble vision is for. The bullish arguments are well known and broadcast 24/7 on the Wall Street and deep state controlled media. The bearish arguments are ignored by same. I'd far rather have RV give me the benefit of real insight from someone such as Jesse Felder, who sees through the hype, vs. some generic point/counterpoint "fair and balanced" presentation.

      It would be easy to do the latter and avoid criticism. It takes courage to speak the plain truth as you see it. You risk looking stupid as grossly inflated prices become ever more grossly inflated. So to Grant, Jesse and RV, I say THANK YOU and WELL DONE. This was EXCELLENT.

    • JM

      John M.

      30 10 2017 23:02

      5       0

      I thought Grant & Raoul were trying to get some of the smartest investors to interview and those people happen to be bearish at present, right?

    • RD

      Ryan D.

      31 10 2017 00:00

      1       0

      I think it depends on your perspective. I have been bearish for years but have made good money with RV as an idea generator on the long side. You just have to do a lot of sifting. If want stock recs there are plenty of those to be had on the interwebs.

    • EM

      Elvijs M.

      31 10 2017 13:22

      5       0

      I agree with Vash on the point that its a crucial thing is to hear the other viewpoint to succeed as a investor, however I think most of the bulls out there fail to compellingly answer to the criticism of the bears argument on let say endless monetary stimulus and the insanity of centralbanks buying etfs. Instead they quickly fall into the "everything is awesome"-camp. One exception , and I would love to have him on RVTV as a guest, is the NYU professor Aswath Damodaran. He has a fascinating viewpoint where he looks at things as the Implied risk premium to determine if the market is overpriced and also comes to an compelling conclusion that the FED really haven't made the longterm rates artificially low but instead it is the function of low GDP growth and inflation that got us to these levels.

  • CD

    Colin D.

    30 10 2017 17:45

    7       0

    Excellent discussion between two people whose views and thoughts I value so much that I subscribe to updates from both! Keep up the great work Grant and Jesse.

  • LA

    Linda A.

    30 10 2017 17:30

    9       0

    So rational in an irrational mkt. Jesse, u hit it on the head- semiconductors are cyclical & my co has a 401K fund just for semis' in addition to a tech fund. Many people are going to suffer huge losses after the cycle has run its course. I wish I could warn my co but that would subject me to getting fired. Thank you, I really enjoyed the conversation.

  • TS

    Timothy S.

    30 10 2017 16:46

    2       0

    I like to binge watch Real Vision.

  • dj

    daniel j.

    30 10 2017 15:35

    0       0

    Fantastic - however little talk of the valuechain

  • AF

    Andrew F.

    30 10 2017 14:41

    3       0

    A Perfect Storm for a Perfect Crash.
    Is this a future movie? or Book?

  • AG

    Amir G.

    30 10 2017 14:18

    12       0

    This was such a great discussion that if I were Grant I would just let my guest talk non-stop without any interruption in the interest of time. I don't know if it's just me but I feel that great content interviews are usually constrained to a half hour time limit whereas the 'story telling' interviews can drag on for over an hour sometimes.

  • RM

    Richard M.

    30 10 2017 14:02

    81       2

    And not to beat a dead horse, but.... I could have happily listened to an hour long segment with Jesse and Grant instead of the new half hour format. Just say'in. Thanks. :-)

    • MS

      Matt S.

      31 10 2017 12:40

      3       0

      yes - it's not like videos are coming out 5 times a day.... if the guy is there, the lights are set up, the cameras are rolling... what's an extra half an hour? probably takes over an hour to set up!

  • RM

    Richard M.

    30 10 2017 13:45

    4       0

    Fantastic! Just love hearing Jesse and Grant talk. Agree with all of Jesse's points (I think Fleck and Fred probably do too!). Keep up the great work!

  • JV

    Jens V.

    30 10 2017 13:02

    3       0

    Very interesting. I was holding on to my Apple shares due to the expectation of a tax holiday from Trump (leading to profit repatriation), but now I'm selling...
    Facebook and Google will certainly see a backlash, and it looks like it has already started with the EU competition authorities.
    Netflix and Nvidia are just outrageous. I'm buying puts on those two.

  • PU

    Peter U.

    30 10 2017 12:45

    6       0

    NVIDIA's hype is not around bitcoin as much as it is around self driving cars.

    • JV

      Jens V.

      30 10 2017 14:12

      2       0

      Yes, see this fx: http://www.investopedia.com/news/nvidia-launches-chip-autonomous-vehicles/
      Nevertheless, trading at >17x sales now.. crazy. As pointed out in the interview, chips are a cyclical business. And before the autonomous vehicle market reaches scale, the competition for computer chips designed for this purpose will probably be intense (Intel, AMD, ARM, others?).

    • MB

      Max B.

      30 10 2017 20:20

      1       0

      I was short NVidia around 180 when this news broke...not good!! I did some digging and found the news release for the self driving car situation. I agree self driving cars will be the future but this stock broke on this news far to early in my opinion.

  • SS

    Sam S.

    30 10 2017 12:26

    7       0

    Grant, you interrupted Jesse during the Netflix discussion too many times and I felt like he wanted to tell us more. You know I think you're one of the best ever interviewers---love you best! Fred Hickey has been on this FAANG train for long time and now it's beginning show signs of derailing. Wonderful discussion---thank you.