The magic of compounding, Speccy Magee returns & when does Boeing become a good investment?

Bryce: [00:00:31] Welcome to Equity Mates Investing, a podcast where we explore what's possible in the world of investing. If you've just joined us, welcome. My name is Bryce. And today we're looking at what on earth is going on with Boeing. We're answering a community question about compounding, and Speccy Magee returns with an update on the Speccy market to chat through it. As always, I'm joined by my equity buddy, Ren. How are you? 

Alec: [00:00:53] I'm very good, Bryce. Very excited for this episode. We have a lot to cover and to pull back the curtain. We've just come off eight hours of audiobook recording. It's a big week for us here, so if our gusto is low. 

Bryce: [00:01:07] We have voice guys. 

Alec: [00:01:09] Yeah, that wouldn't be good, because we've got two more days of audio book recording to do this. 

Bryce: [00:01:13] Two out of four done. They think this is for the first book, Get Started Investing. So for those of you who haven't bought it and are holding out for the audio book, great news is coming.

Alec: [00:01:22] Yeah. It's been a long three years, but it's getting there. 

Bryce: [00:01:25] Yes, 380 pages, in roughly 20 hours. That's the expectation from the producer. So it's been a lot of reading, but Ren doesn't stop. 

Alec: [00:01:36] It reminds me, like it's a pretty good book. 

Bryce: [00:01:40] Kudos to the authors. 

Alec: [00:01:43] But yes, as you were saying, the content train doesn't stop. And the content train is pulling into a station near you, at least if you live in Sydney, because we are going live. Our Ask an Advisor live on the 10th of April at the Chevelle cinemas.

Bryce: [00:01:59] It's going to be a night to remember where bringing in one of Australia's best financial advisors, Glenn Hare from Fox And Hare to sit down and do a live podcast with him and to give you the opportunity to ask any money or investing question that you might have. We're going to be covering super. We're going to be covering the cost of living crisis, mortgage repayments, investing strategies, you name it, we'll be covering it. So come and join us on the 10th of April. Tickets are available at Equitymates.com/events. We cannot wait to see you there.

Alec: [00:02:29] Yeah. Now Bryce it's been a big week so hit it. All right Bryce. Well we've got a start here in Australia. And the Reserve Bank of Australia has come out with the latest cash rate. And probably not a surprising result. Keep it steady. 

Bryce: [00:02:46] Keep It steady. 

Alec: [00:02:47] 4.35%. 

Bryce: [00:02:48] Yes. As expected at least you and I expect this. Well, I mean, some people, some people are expecting that they start cutting pretty soon, but I think the consensus here at Equity Mates HQ is that that's not coming. So look 4.35% overnight as well. There was commentary from the Fed that they might not be cutting rates as early as expected. 

Alec: [00:03:16] To be honest, I think I think people need to get in the mindset that inflation isn't done. Like the US printed higher than expected inflation number. Like wages are said to be pretty strong. I made a call in September last year that we won't see a cut in 2024. And I thought for all money I was wrong. And now I'm like, maybe I'll be right. 

Bryce: [00:03:41] Oh, definitely. Well, I think given that the fed signalled that they're going to be doing three this year, the market is pricing something crazy like six. We'll see what happens. 

Alec: [00:03:49] We will likely see a cut. But it's like yeah the inflation is still in. 

Bryce: [00:03:55] Sticking around. 

Alec: [00:03:55] Yeah. Here's a question for you. And I actually don't know the answer to it. Why didn't they do it on the first Tuesday of March? Why did they meet on Tuesday the 19th of March? 

Bryce: [00:04:04] Well Ren, Michelle Bullock has come in and she's making sweeping changes, one of which is rather than mate monthly like they used to on the first Tuesday of every month, they're now meeting only eight times a year, which equates to like every six weeks. And I think since the last time they met in Feb, hence why they're meeting on the 19th of March. 

Alec: [00:04:23] Well, that's just thrown my whole internal RBA calendar out. 

Bryce: [00:04:28] Like you need a new calendar. You know it's good. It has less headlines. 

Alec: [00:04:32] Some people use like the moon and the stars and stuff. I use the RBA calendar to know when the new month comes. 

Bryce: [00:04:39] Around. 

Alec: [00:04:39] And now it's going to throw.

Bryce: [00:04:41] Me nice. Well, get used to it because we can expect to hear them less. But I do like that, she's going to be holding a media conference, straight off so that people can ask questions. I don't think it was something that old mate. What's his name? I can't even remember his name anymore. Philip Lowe was very good at. Give the people what they want. 

Alec: [00:05:00] You're not going to watch one of her media conferences. Yeah. All right. Anyway, let's put on we want to talk about Boeing because, I think this story has, I mean, there's so many aspects to it. People have probably heard about all the plane disasters. But we want to talk about it. But then I want to talk about it in an investing land. And, make the case that it is actually probably going to be a good investment as much as it. Pains me to say, okay, Boeing is a company, so I'll get it. Let's talk about what's going on first. 

Bryce: [00:05:35] Know they're in a world of hurt at the moment Ren, because the last few months, I'd say the last 12 months have been disaster after disaster. Headline after headline, mainly driven by safety issues that have been plaguing and plaguing the business. First few months of this year, there's been almost a weekly deluge of bad news a United Airlines flight using a Boeing plane to fly from San Francisco to Oregon landed with one of its external panels missing. 

Alec: [00:06:08] Sorry, I just can't get over how you pronounce Oregon. 

Bryce: [00:06:12] What is it? 

Alec: [00:06:13] You just. 

Bryce: [00:06:14] What did I say? 

Alec: [00:06:14] Oregon. All right, polygon. 

Bryce: [00:06:19] Ren, focus on the story. 

Alec: [00:06:19] Yeah. Okay. 

Bryce: [00:06:20] In January all plugs flew off. 

Alec: [00:06:22] Yeah. There's a lot of let's read through these. Yeah a door plug flew off which led to the door plug gate. Where the Alaska and United Airlines inspections found at least five more seven, three, seven Maxs with loose door plugs. And I think these are the stores, you know, at the back of the plane when you're waiting for the bathroom. And you're like, what? What would happen if I used the emergency door right now?

Bryce: [00:06:47] In March, a 265 lb wheel fell off a Boeing 777 after taking off, smashing through a fence into several cars in a nearby parking lot. 

Alec: [00:06:56] Yeah, this one. I wasn't sure if it was really Boeing's fault, but at least 50 people were hurt, when they were on a Boeing 787, where the plane experienced strong movement. 

Bryce: [00:07:09] So they came out afterwards and said that a flight hostess accidentally hit a button while serving a meal to the pilot.

Alec: [00:07:17] Okay. Geez.

Bryce: [00:07:18] That's gone precarious. 

Alec: [00:07:22] Yeah. Okay. I don't think we can blame Boeing, but I know maybe they should remove. They should like the 

Bryce: [00:07:27] The dropping the emergency button. 

Alec: [00:07:30] Bit further away from. Anyway, but then there's been a number of incidents that clearly are Boeing's, attributable to Boeing, a number of engine fires. There was one in January in a Boeing 747. That was one in March, where flames shot out of an engine mid-flight on a Boeing 737. There is a long list of safety issues really in the last few months, and it echoes back to a couple of years ago, when there were all those issues with the 737 maxes and literally the plane crashes. Like Boeing and Safety, are two things that don't seem to be going well together. On top of all of this, if we go down the conspiracy rabbit hole, there's this dead whistleblower. 

Bryce: [00:08:14] I know, this is crazy. 

Alec: [00:08:16] Yeah, yeah. 

Bryce: [00:08:17] It was due to testify against Boeing's safety record or something along those lines. Found dead. The 63 year old is very suspicious. Well, the family thinks it is under very suspicious circumstances. 

Alec: [00:08:30] Yeah. So that is Boeing. It's there's clearly problems. There's clearly a problem in safety and culture that need to get sorted out. The share price is down 29% year to date. Now, fun trivia fact, it's not the worst performer in the S&P 500. Do you wanna guess who it is. 

Bryce: [00:08:51] Oh, no. 

Alec: [00:08:54] Well, then I'll keep going. It's Tesla. Okay, Tesla is down 30%, and that's even after a recent little bump because they announced they were going to raise some prices. But yeah, Boeing has had a shocker of a year. Boeing is also a company that gives me the ick in some ways. Yeah. Do you remember that was a few years ago. This was pre-COVID. We spoke to Jesse Felder and he spoke about these. He had an acronym for it. But there's companies of financial engineering that were just, borrowing huge amounts in debt to buy back heaps of stock. It was like them caterpillar, a few others. It strikes me as a company that has been very focussed on its financials rather than its safety. And that's like that's me as an outsider not making any allegations. But as a company, it's always like you want your company to really be focussed on products.

Bryce: [00:09:49] Meant to do. 

Alec: [00:09:50] Building long term sustainable value by building great products rather than building short term shareholder value with financial engineering. 

Bryce: [00:09:57] Yes. Well, they're down 29%. You mentioned at the top, though, that this might be the moment that provides an investment opportunity in a company that gives you the ick.

Alec: [00:10:10] So me saying it gives me the if was a big run up for the but, which is I think at some point this is going to become a great investment opportunity. It might not be there yet, but for people who are willing to take the risk, this strikes me as, Meta in 2022 opportunity at some point. The reason being, Boeing is part of a global duopoly, in passenger aeroplane manufacturing. It's Boeing, the American company, and Airbus, the French giant. And that's it. You know, if you're a Qantas or, you know, a major airline, you're not really buying planes from anyone else. So that's one thing. They've got a massive market position. The other thing is that they're incredibly strategically important to the US. Boeing are one of those companies that the US government isn't going to let fall over. They want passenger plane manufacturing in America. Boeing also has a lot of national security, contracts and interest with America. The idea that the US government would let Boeing fail. Not going to happen.

Bryce: [00:11:16] No. 

Alec: [00:11:17] But here's a number for you. Here's a couple of numbers for you. Boeing, they're backlog of orders, 6189 aircraft. That's close to a record. The record was in at the end of last year, December 2023, 6216 aircraft. So there is a massive backlog of orders that is waiting to be filled. It's years of work for Boeing. Now let me put it in context for you. In 2023, Airbus targeted 720 deliveries of passenger planes. Boeing had a target of 445. Boeing's record year of plane deliveries was 2018. They delivered 806. So that puts that 6189 aircraft backlog in context. That's more than a decade of work based on their current run rate. 

Bryce: [00:12:12] But is this not already priced in?

Alec: [00:12:16] Yeah. Like and that's why they've really only fallen 29% when their planes are literally falling.

Bryce: [00:12:21] On the sky.

Alec: [00:12:22] Well, setting on fire in the sky. But when you think about a company that has has given itself some breathing room to sort its backlog out, it's a company that has 13 years of work guaranteed. And the implicit backing of the US government. 

Bryce: [00:12:39] It's really just flatlined for like four years now. Yeah. Like, like this pipeline of activity is not new news. 

Alec: [00:12:48] No, no. It's not. Anf part of the reason why the pipeline is almost at a record is because their production is so screwy at the moment that they're not delivering what they expected to. So the backlogs, right. Yeah. 

Bryce: [00:13:01] So I think when one of they had their major mishap at midway through last year or whatever it was, the stock fell quite considerably. And I think it had a bit of a run up. But I think now it's fallen back down to that pretty level. So yeah, it is an interesting one and it's one that I've did thought it think about thought about doing it for stock of the year. But I don't think this is the year that. It's still got a lot to work out. 

Alec: [00:13:22] No. So the 737 Maxs started falling out of the sky in like 2019. Yeah. And the share price fell. Yeah. Like almost 70%. 

Bryce: [00:13:33] And then it kind of has just flatline from there. 

Alec: [00:13:36] It recovered a bit and then it's fallen a bit with the new safety issues. It recovered almost 100% in the bull market of 2021. Then it crashed again. Yeah. Fell 50%. Risen 50%. Now it's fallen again. So it's been pretty volatile. but yes it's like I'm.

Bryce: [00:13:55] Not going.

Alec: [00:13:56] Anywhere. I'm confident that Boeing is going to be here in 30 years. I'm pretty confident I guess. Well, I've made money on the stock. I don't know. 

Bryce: [00:14:03] But what's Airbus doing these days? Is it even listed? 

Alec: [00:14:05] Yeah, it's listed over in France, up 15% year to date. I mean, nothing crazy like, up 40% in the past five years. 

Bryce: [00:14:15] Definitely outperformed Boeing. Considerably. 

Alec: [00:14:21] Yeah. Anyway, so I think that's it. 

Bryce: [00:14:24] Well, watch this space. I've got work to do, that's for sure. 

Alec: [00:14:27] Yeah, yeah, yeah. I mean, it's a classic example of, like, people who are brave enough to take the risks on unloved stocks sometimes pick big winners like Meta up 350% since November 2022. The question is whether this will be won or if it will keep falling or flatlining. But yeah, it's not a company that's doing well at the moment.

Bryce: [00:14:52] No. All right, Ren. Well, it's time for. 

Alec: [00:14:56] Okay, well, this question comes in from Malaysia via email. If you want to ask your question, go to equitymates.com/contact. You can ask us a question. We can get your question answered by one of Australia's best financial advisors. But Elisha asked, I always hear that compounding is the eighth wonder of the world, but no one ever really explains it. Can you actually explain why it's such a wonder? Bryce, why is compounding good? 

Bryce: [00:15:26] If you've just joined the show and you're wondering what on earth compounding is? Compounding is when your money grows at a consistent rate, year after year after year after year, and exponentially grows your wealth or exponentially grows whatever is growing. But in this instance, we're talking about our wealth. So think back to your general maths at high school where you would do linear growth, which is an example is saying six plus six plus six plus six is 24. Whereas exponential growth or compounding is the same as saying six times six times six times six. 

Alec: [00:16:02] Yeah. What is it?

Bryce: [00:16:02] Which is can't do it on the top of my head.

Alec: [00:16:05] 1296. 

Bryce: [00:16:07] There you go. So in simple math terms, that's an example of how the compounding year on year gets exponential growth. And so this is why it becomes so powerful. Because when you extrapolate this over a very long period of time, you start to see your wealth just grow exponentially. And this is how, you know, Warren Buffett is a classic example of this, has been investing for, what, almost 70 years now. And the bulk of his wealth has come in the last decade or so. 

Alec: [00:16:38] Yeah, yeah. We had to look at it actually, in the first book, Get Started Investing. And it's something like 99% of Warren Buffett's wealth has come after the age of 50. I think at the age of 50, he was worth 100 million. Now he's worth 100 billion. Yeah. And the reason that compounding is the eighth wonder of the world, the reason that it's so powerful is it's not you're not just making money on your initial investment, you're making money on all the previous money you've made. And that's why over the long term, as you make more and more money and then that money starts making money, you can start to get really incredible exponential returns. Now we've, pulled out a few examples to try and I guess illustrate the numbers behind compounding, a few examples to sort of bring it to life. 

Bryce: [00:17:26] Because it is actually really hard to comprehend when you start off investing the power of this over 40 years. So I think putting numbers to is good idea.

Alec: [00:17:33] Yeah. Okay. So, here's my first example. If you invested $200 a month for 30 years at 10%, you would have $456,000. If you extend that ten years. So you go from 30 years to 40 years. It's not linear growth. It's not like, you know, you extend the timeline by a third, so you add a third more to your money. It's exponential. That extra ten years takes your return from $456,000 to $1.275 million. An extra third of time triple triples. 

Bryce: [00:18:12] Yeah. 

Alec: [00:18:12] Your result? 

Bryce: [00:18:14] Throw in another ten years. And you. 

Alec: [00:18:16] I Know, how about this one? So if I live investing like if I am trying to play catch up and I only have ten years until I retire, or if I invest $1,000 a month for ten years at a 10% return, I end up with about 200 grand, which, you know, not bad. That's you've turned $120,000 invested into 200 grand. If I double that time line. So if I go to 20 years so I don't have to play catch up as much, I've got a bit more time. How much would I need to invest each month to get that same 200 grand? 

Bryce: [00:18:52] Is that. That's the question?

Alec: [00:18:53] That's a question for you. Yeah. So you double the time line. 

Bryce: [00:18:56] Double the time line. So you're saying a thousand a month for ten years at 10% gets you 207. But if I'm saying I'm investing for 20, 20 years, how much would I need to invest each month to get 200 K? Not anywhere near a thousand.

Alec: [00:19:09] Yeah, obviously. 

Bryce: [00:19:11] I'm going to say 50 bucks a month. 

Alec: [00:19:15] No, no, that's. 

Speaker 2: [00:19:16] That's crazy. That's crazy. 

Alec: [00:19:18] So your mind initially likes if you're thinking linearly, you would say, well if you double the timeline. Yeah. Then I have the amount I need to invest. So rather than investing a thousand I would invest 500. That's sort of like first instance response. But that's not thinking exponentially. You actually can just invest a quarter of what you would do $260 a month rather than $1,000 a month gets you. So you double the timeline, and then you can just quarter the amount you invest. 

Bryce: [00:19:51] Which is why we say Get started as early as possible. 

Alec: [00:19:52] Yeah. So again, it's like this exponential growth the longer that you give it. Here's another example to try and illustrate it. So if you invest $100 just just once you invest $100 for ten, 10% a year for five years. You'll have $161. Okay. So you'll multiply your money by 1.6 times. If you invest that for ten times as long. So 50 years rather than five years, again, if it's just linear growth rather than 1.6 times your money, you would get 16 times your money. You ten it that's not the case. You would actually multiply your money by more than 117 times. So that $100 invested once would be worth more than 10,000.

Bryce: [00:20:41] Wow wow. Well this is certainly illustrating the effect of compounding. But I think it's also illustrating the effect of compounding over a very, very, very long period of time. Hence why I can say every week we say no matter what you want to start with, getting started right now is going to make a significant difference to your portfolio over the next 40 years. 

Alec: [00:21:03] 100%. Well, why don't you close it out with some actual real world examples of how this has worked over time? 

Bryce: [00:21:09] Okay, so if you'd invested $1,000 in Australia in 1980, in the All Ordinaries total return, by 2019, that $1,000 would be worth $71,800. 

Alec: [00:21:22] Not bad, not bad. 

Bryce: [00:21:23] If you'd invested that $1,000 into the US markets, the S&P 500 total return in the same period of time. By 2019, that $1,000 would be worth $86,984. 

Alec: [00:21:37] Love it. Now you. We can plug these numbers all day. I think if you want to get your head around the money, smart Calculator is a good place to go. We'll put that link in the show notes, but hopefully that starts to illustrate the pretty, mind blowing numbers behind compounding, especially as you extend that timeline out to 30, 40, even 50 years.

Bryce: [00:21:59] So there is a reason why people call it the eighth wonder of the world. Thank you for the question, Alicia. And as Ren said, if you have a question, hit us up at equitymates.com/contact and we'll make sure we answer it on our shows. Now, we're gonna take a very quick break. And on the other side we have Speccy Magee returning with an update on the Speccy market. We'll be right back. Welcome back to Equity Mates. We've covered what on earth is going on with Boeing and the community question on compounding. And to close out this episode we're bringing it back for the first time in 2025. Yes 

Alec: [00:22:32] No. 2024 

Bryce: [00:22:33] 2024, none other than Speccy Magee. 

Alec: [00:22:37] For people who are new to the show, Speccy Magee is our correspondent from the world of Speccy and shit coins. Yeah, the part of the market that people love to have a punt on. We don't spend a lot of time talking about it, but luckily, Speccy is our correspondent from that world, so let's see what he's got in store for us today. 

Speccy: [00:23:05] Yay! It's so good to be back. So good to be back. 

Alec: [00:23:12] Speccy Magee. What have we got for us?

Speccy: [00:23:15] All right. How are we going, guys? Yeah. Good. Thanks. Good to be back. Finally, 

Bryce: [00:23:20] Last time you were dressed as a rocket ship?

Speccy: [00:23:22] Yeah. 

Bryce: [00:23:23] An inflatable rocket ship. Yeah. You're dressed as the Space Man. 

Speccy: [00:23:27] Yeah. 

Bryce: [00:23:28] This is still a rocket ship. 

Speccy: [00:23:30] So we're off to the moon. So it's so good to be back on the show. All these Speccy Mageeezers would be pretty excited about crypto's back as well. 

Alec: [00:23:37] Yeah, it would say. Yeah, yeah, yeah. 

Speccy: [00:23:39] So good to be back. Like, you know. I mean crypto is back. You've got bitcoin and Ethereum like both almost at all time highs. 

Alec: [00:23:48] But you don't, you don't worry about that bitcoin and Ethereum you're looking at a bit higher of the risk of. 

Speccy: [00:23:55] I am I am. But yeah. So they're both almost all time highs which is good. So your long term listeners and Speccy Mageezers would know that I've actually picked two crypto picks in the past. Do you guys remember that? 

Alec: [00:24:08] Banana. 

Speccy: [00:24:08] Got it. 

Bryce: [00:24:13] It was the, like the gaming one. 

Speccy: [00:24:16] Close it was Sela Net Worth. That was the one I outsourced to a Fiverr. 

Bryce: [00:24:20] Oh yes. That's right.

Speccy: [00:24:22] Exactly. I've done more data this time. So, you know, with the whole crypto boom at the moment, you'll be pleased to hear that, unfortunately, they're still down, but they're not down as much. So banana is down 7%, Sela Net Worth down 50% from the call. So, you know, it just shows you still need to be calculated with your picks. Even if a bull runs a supercycle you go to pick the right crypto. So, any questions? 

Alec: [00:24:52] No. We want to know. We want to hear what's been, coming across your desk. 

Bryce: [00:24:55] Next question more like it. 

Speccy: [00:24:56] Yeah okay. Next question. So the pick I had today, the financial advice I have today is, the pick for today is DogWifHat ticket DIF. You guys familiar with this one? 

Alec: [00:25:12] This has had a big run. 

Speccy: [00:25:13] Yeah, it's had a big run. It's on the Solana blockchain. All the Solana coins seem to be doing really well at the moment. Including Solana itself. So over the last few days, there's been a bit of a call off. But Solana is going strong. It's meant to be faster, cheaper, more secure a blockchain than, in the alternatives. Yeah, there's a few other ones, like Dogecoin is actually on its own. But blockchain. I did a little bit of analysis between the different meme coins. So it's all about Solana itself, right. 

Bryce: [00:25:46] So why pick Solana? 

Speccy: [00:25:47] It's DogWifHat which is the main meme coin on this Solana blockchain. 

Bryce: [00:25:54] So okay, so why would you not just go to Solana. 

Speccy: [00:25:58] No, you want more games. 

Bryce: [00:25:59] You want more games 

Alec: [00:26:01] Hold on. For context, Solana is up like 600% in the past 12 months. So they're pretty good games. 

Speccy: [00:26:06] They're pretty good. 

Alec: [00:26:07] What's DogWifHat? 

Speccy: [00:26:08] Look, Solana is so good that Sam Bankman-Fried has been telling prison guards to get on Solana.

Bryce: [00:26:15] How's he still trading from prison? 

Speccy: [00:26:19] He's giving tips. He's giving tips. Which is just, it's just a funny thing to imagine. 

Bryce: [00:26:25] Here's the question people are asking, Speccy is is it too late. 

Alec: [00:26:29] Like, yeah, that's my question. 

Bryce: [00:26:31] Is it too late if Speccy Magee is talking about it? It's around 600% dog with cat. Whatever it is called. If it's already run. 

Speccy: [00:26:43] It does feel a bit tough ish, doesn't it? 

Alec: [00:26:45] It does. DogWifHat is down meaningfully from it's all time high. It was at 340 in, what, a week ago? No, a few days ago. And now it's at 240. 

Speccy: [00:26:57] Look, with all these fluctuations, I've still been sleeping like a baby. I've been sleeping like a baby. I'll sleep for two hours. I'll wake up and cry. I'll sleep for two hours. I wake up and cry again. 

Alec: [00:27:11] DogWifHat is up 1,300% in the past year. 

Speccy: [00:27:16] It's going strong. Yeah. And the other piece of news so the DogWifHat community came together and through. Just like holders of the coin. Collectively donated 700 grand to put the image of the token sort of logo on the Vegas orb for a week. 650 grand for a week. But I think it cycles through all the other brands as well. Right. So they say that it's meant to go live on 19th April, so we should see some price action there. But I think, you know, this is the point you want to take if you're Speccy Mageezers, you want to ride. The Solana momentum DogWifHat is what we're on here. 

Bryce: [00:27:59] Are you in? 

Speccy: [00:28:00] Absolutely.

Alec: [00:28:01] Can I ask for your take on another Solana meme coin that I've been hearing a bit about? Have you heard of Feng?

Speccy: [00:28:11] I haven't heard of Feng. No. 

Alec: [00:28:13] But you gotta get with Fen. Feng is the next DogWifHat. 

Speccy: [00:28:16] Oh, okay. Maybe. Maybe it's too late. Like, one of the responses to the Vegas old news was like. This is just such a top safety top. You know, we're paying 700 grand to get on this.

Alec: [00:28:28] It reminds me of, Elon going on Saturday Night Live. 

Speccy: [00:28:31] That's exactly what I was thinking. 

Alec: [00:28:33] I'm thinking that would be good for Dogecoin. 

Speccy: [00:28:37] It's going to blow off. 

Bryce: [00:28:37] It's no longer a meme. 

Alec: [00:28:38] Maybe we got to sell on the 19th of April. 

Speccy: [00:28:40] That could be it. But yeah, I don't know. I went on the crypto moonshot subreddits and there's all these spinoffs frogwifhat, petpengwifhat, Shibawifhat, Hankwifhat, dogwiffork, hotwifhat. Someone in the office. 

Bryce: [00:28:56] This is ridiculous. Just after we talk about long term compound interest. 

Alec: [00:29:02] Yeah, yeah, 10% a year. 

Speccy: [00:29:04] Yeah. Someone in the office suggested to Wolf with bulls that that's genuine. Bryce is talking about dog with cat. 

Alec: [00:29:13] Dogwithcat would probably be good. 

Speccy: [00:29:13] I reckon so. That's my pick dogWifHat. 

Alec: [00:29:18] But we got to be clear. It's Wif, like, a WIF. 

Bryce: [00:29:21] DogWifHat, nice. Nice one Speccy. Well, we're certainly going to the moon coming in as an astronaut DogWifHat. You've heard it here first. We appreciate you coming in. And, looking forward to the next one. Thanks Speccy. [

Speccy: [00:29:39] You guys. 

Alec: [00:29:41] Well that, let’s have this music play ourselves. That brings us to the end of another episode of Equity Mates. Remember to pick up your tickets to Ask an Advisor. Rumours are Speccy Magee might be making a guest appearance depending on how DogWifHat gone. Tune in tomorrow. We're speaking to Kerry Craig about all things, portfolio construction and home country bias. We'll ask him where DogWifHat fits in that portfolio. But until then, thanks for listening.