Inside the stock market, there is a violent separation happening in 2026 — money goes to where it is treated best; if a stock is not working, it is getting destroyed, and if it is working, it is working really, really well.

3:02treated best. I feel like that is like the theme of 2026. If it's not working, it's getting destroyed. And if it's working, it's working really, really well. Now, we saw a lot of the air come out of the overly crowded memory trade, which I thought I think is fantastic. >> Yeah, definitely needed to happen. >> You need this. I am nothing is nothing is better in my opinion than an awesome uptrend

3:30and letting some of the air out of overenthusiasm. Never like to see people lose money. Say that every time I say a comment like this. But you need the wall of worry to emerge for stocks to ultimately go higher. And the wall is definitely back. And the bubble talk. I know we're going to talk about bubbles later because we've been talking about bubbles a lot lately on this podcast.

3:51Can we maybe put a pin in the bubble talk given that these names just had a 35% draw down in two weeks? All right, listen to the the I think the crazier part about it is that so much other stuff is doing well. So, I took the Russell 2000, Russell 3000, which is the total stock market, call it like VTI essentially. It's 2600 names now. We can't even get to 3,000. We used to be a

4:13country, you know. We used to be 3,000 stocks on the Russell 3000. >> The Russell 3000 is 3,000 stocks. >> Uh, it's like 2500 now because of the the to the whole it's smaller. >> Are we sure about that? It's the Russell 1000 and the Russell 2000 combined. >> 1 plus 2,000. I downloaded the Russell 3000 and they gave me 2600 names. Um 66% I put I always put this in a call like

4:38once a week to see like what's going on in the stock market. 66% of stocks are positive yearto date in the US stock market. Median return is 12.6%. That's pretty good. >> Yeah. >> Two-thirds of stocks right are positive. That that's a pretty good year. I'm just saying it's really surprising that a lot of these name brand companies are getting slaughtered while this is happening to all the rest of the stock

4:58market. >> Mhm. It's interesting. >> That is interesting. >> We got We have to mention the banging in the background. Uh Michael, >> I hear that >> is single-handedly keeping mudrooms open for America and getting another new mudroom. Do you >> It's It's mudroom 2.0. It's running back. >> Now, I have a question. Did Did you use the same construction people that did your first mudroom for the second