WTF is the Dead Cat Bounce?

Speaker 1: [00:00:18] Hello and welcome to youre in good company. A podcast makes investing accessible for everyone. I'm Maddie and as always, I'm in some very good company with my co-host, Sophie. 

Sascha: [00:00:33] Hey, you haven't taken my microphone off me yet. It's a very exciting time. 

Sophie: [00:00:38] Maddy, I have a little surprise for you. 

Maddy: [00:00:42] Oh, stop it.

Sophie: [00:00:44] Okay, Jiffy, TV, chips. 

Maddy: [00:00:47] Snacks, snacks, snacks, stones in the room.

Sophie: [00:00:50] We've got the honey Dijon mustard. I'm going to be speaking about this for a very long time. People are going to hear a lot of crunchy on today's episode. Thank you very much. Love, taste test. Sascha. 

Sascha: [00:01:00] This is really a challenge for me because. 

Sophie: [00:01:03] You hate editing sound

Sascha: [00:01:04] Bite eating sounds on mic. Oh, I hate it. So let's. 

Maddy: [00:01:09] Say. 

Sophie: [00:01:10] Waiter and how about your friends are our headphones on, but you can really get the full effect from us. Alien is right. 

Maddy: [00:01:16] It's actually one. 

Sascha: [00:01:18] Of my most hated things.

Sophie: [00:01:19] So I need to do with me. Okay. 

Maddy: [00:01:22] Oh, God

Sophie: [00:01:26] I forgot how good they were. Thank you. Sorry. I'm just going to pause you there for saying if anyone is extremely confused by what is happening right now on last week's episode. So we've talked about how she rediscovered the Red Rock daily danger and money in hostage danger. Money baby Dijon mustard and honey chips, chippy chips for her snacks that she had had as a child. And that disappeared from Red Rock Deli. Yes. And they're back. So I found out online. I did message Red Rock Deli. They didn't survive. It was The Australian. I don't know. It was the Australian Instagram nerve. 

Sascha: [00:02:01] Hi Luke. If anyone's listening and has a connexion to Red Rock. 

Sophie: [00:02:04] Let us know. 

Sascha: [00:02:05] Let us know.

Sophie: [00:02:05] But a Facebook group did tell me that was initiated in 2015 for this chip. So there's people out there like me. Well, apparently the sales are declining. So anyone that's out there, if you want to support the podcast, don't leave us a review. Go and buy these on Mastodon. 

Maddy: [00:02:21] You know, most. 

Sascha: [00:02:22] Of us know I think what they should do is go to our reviews and write fellow Dijon mustard and honey. Love it here. [00:02:28][5.9]

Sophie: [00:02:28] So love it. Love it. So I was driving here tonight and I was having some real, like, core thoughts, the saving our thoughts, but yes, out of the car thoughts which they might not be that safe. If I actually think about it, it's you really like you. Your mind wanders and you're driving. Do you ever when you're driving? I feel like my mom was and I just forgot. And I don't want to hear me admit that this happened to me. It's like you just all of a sudden, like, oh, my God. I'm like. [00:02:54][25.9]

Maddy: [00:02:54] How did I get to these cars? [00:02:55][1.0]

Sophie: [00:02:56] How many lights do I drive through it? Get this one. That happens to me a lot. Anyway, back to the story. You know what Melbourne's like four seasons in one day I got in the car, it's pouring rain. All of a sudden it wasn't all about but going back and forth. Do you experience this self-consciousness or insecurity about the speed of your windscreen wipers? I don't know if it's insecurity. I'm always just like, you guys don't have a good middle ground. Wow. So you look at other people's. No, no, no, no. I'm like, my first setting is too slow and I have a good winter is so fast that I'm like, Can we just go like normal Melbourne, a rainy day kind of vibe. I have this thing where I worry that people looking at me being like, Look out whatever windscreen wipers are going so unnecessary. And I get so self-conscious about it to the point where like I put them so slow that I like kind of can't say so do you look at other people's and judge them? Well, only when I become really aware of my own. So then you look at other cars and go, Wow, I'm getting jealous because normally that is going slow. Okay. But to be fair, if they're going fast, my one day we should unpack that. Maybe this isn't the forum. Right? Let's talk about fitness then. I am ready to holiday. I'm so excited. So am I. We saw some renders of what the place is going to look like that Bryce showed us. It looks really cool as little domes. Let's see. [00:04:21][85.7]

Sascha: [00:04:22] Before we go any further, guys, what exactly is fan fest? Just in case you have been living under a rock. [00:04:27][4.7]

Sophie: [00:04:27] So this is how I'm explaining it to my friends when I'm telling them that they all must come. It's like the ASX Investor Day, which if you imagine that, it's like a big convention centre. I'm sure it's a cool day but like just a bit bland. [00:04:39][12.1]

Sascha: [00:04:40] Maybe you're selling it really well. [00:04:42][2.0]

Sophie: [00:04:43] Maybe stick with me, stick with me. But whilst it's maybe a little bit bland, incredible content, right? You've got really interesting, really knowledgeable fund managers coming from all over Australia. They have panel discussions, they talk about investing, they talk about companies and money. So take that idea. And then make it cool, like it's like a party. So there's stages. There's deejays that's drinks. It's going to be great. We're going to be there. We're going to be there, going to be an after party. Like it's like the concept of an ASX Investor Day and you've got all that knowledge and insights and interesting ness of that day, but with like a cool spin. And what we'll say is that there's going to be something for everyone there. I think Bruce is running us through. There's going to be chats about like the psychology of money, about how to get started investing a couple of those types of chats, but then also for the more advanced people as well. So there's really content for everyone and if you come, we'll have a drink with you and we'll have some fun. I can't wait to chat with you and super excited because a guest or someone who, if they have been pining over for a long time to try and get on the podcast is going to be there. Michelle Hepworth, who is the former CEO of ARM Williams, acting senior acting CEO. She was working at TATTOO, which is Treforest investment company, the richest man in Australia, and he bought R.M. Williams and then chucks Michelle in as acting CEO, which is super cool because she was 29 at the time. So these tickets are on sale now. We have a code for you. It's why i j c 15 and we have to get 15% off ticket who it is Saturday the 15th of October up in Sydney. So us Melbourne gals shall be travelling up, get your friends, get some accom, make a weekend out of it. It's going to be a lot of fun. So a bit of reprieve in share markets this week. Sorry, what's reprieve? A name like let off like you're better by English you so bad. Yeah I. [00:06:35][112.8]

Maddy: [00:06:36] Like. [00:06:36][0.0]

Sophie: [00:06:38] I wish I was better. So what does it mean? Like, good stuff. It's like, oh, what's that? Help me out. Like, release. Well, like. [00:06:45][7.7]

Sascha: [00:06:46] Yeah, like release. Yeah, it's been tense and now you're. Oh, I can only define things with sound effects like Oh. [00:06:53][7.0]

Maddy: [00:06:54] But is podcast ready? So I want. [00:06:56][1.7]

Sophie: [00:06:57] A bit of reprieve in share markets this week. Things are starting to look a bit up. It's not quite so grim. Yes, I was actually googling the S&P 500 graph the other day and I saw that it's had a little dip and it's starting to go back up, which is quite exciting. But also, what does that mean? Well, I guess why is it coming up a little bit? I had a message from a friend the other day and she's like, for the first time in ages, I'm not so in the red. And I was like, Yeah, it's great. [00:07:22][25.4]

Sascha: [00:07:22] This is happening to me as well. Like, I went on a bit of a spending spree last year and so there's been a lot of red in the portfolio, so I'm really happy at the moment. So why do we think that's happening all of a sudden out of the blue? [00:07:35][12.6]

Sophie: [00:07:36] Yes, I think there's been a few good things or positive things coming out in the market recently. One of them is that the latest inflation numbers over in the US are flat from June to July. So it's sort of signalling that maybe inflation or the rising prices that we've been seeing over the last few months is starting to cool off a little bit, which would mean there's interest rate rising, interest rate rise rising, rising, rising base interest rate rises hikes are working, which is positive news. [00:08:02][26.5]

Sascha: [00:08:03] Does that mean my tomatoes are going to be cheaper? [00:08:04][1.5]

Sophie: [00:08:05] No, it's just flat. It's not down stagnant. It still is up 8.5% year on year. So we're not in quite such a positive place yet. But one of the things that is driving it down is better than expected or lower than expected energy and gas prices, which I think is going to be good news for all of us. Yes, for the car. The car. I think we're also saying at the moment it's reporting season in Australia and a lot of companies are coming out with better than expected results, which is kind of bringing up their share prices and then also the market with that. [00:08:36][31.5]

Sascha: [00:08:37] Just a quick recap. So what's reporting season again? [00:08:39][2.3]

Sophie: [00:08:40] So reporting season is when companies come out and release their results, it may be for a quarter, it might be for a half year, which is what we're seeing at the moment, the first six months, and it can be for a full year. And it's pretty much where companies just show how much money they're making and spending. [00:08:56][16.0]

Sascha: [00:08:57] Report cards the companies have. [00:08:58][1.4]

Sophie: [00:08:59] Done. Cool. I think the other thing that is a massive sort of influence in this at the moment is employment like employment is still at record highs despite all the noise going on in the market. So I think with everything that's been going on, that is really giving people confidence. Yeah. So what I have seen a lot in news articles and people talking about is this thing called a dead cat bounce. Oh my gosh. So my friend at work messaged me that and he's like, Do you think we're in a dead cat bounce? And I literally was like, That is the most crass term I've ever heard. What are you messaging me on our workshop? So I actually asked my teary housemates, It's Darcy and Henry. Hello? And I said to them, Are my guys, are we in a dead cat bounce? And both of them were like a what can we rename? It doesn't sit right with me so happy cat landing on two nine laptop show in a live chat. Yeah, let's rename it. Right. So I asked them whatever the new term is and then I ask them to say, what's the first thing that comes to mind when I say that term? Because neither of them knew what it was, Darcy said. Is it a dance that you're going. [00:10:02][63.0]

Maddy: [00:10:02] To do this weekend? A dead cat bounce dance? [00:10:05][2.7]

Sophie: [00:10:06] And Henry went into full like, you know, technical mode. He's like dead cat drop, bounce, bounce. I'm doing hand actions of like a and this is what I do. And he goes, he goes, Why do we have Dick? Are we going to McDonald's? [00:10:18][11.6]

Maddy: [00:10:19] So I think it's a double gotchas anyway. [00:10:22][3.8]

Sascha: [00:10:23] It does sound like it should be like a tick tock. Yeah, a trend or something. [00:10:27][3.6]

Sophie: [00:10:27] Regardless, can you tell us what a dead cat thing is? So basically what it is is a sudden and temporary increase in share prices, quickly followed by a second decline, which brings the share prices to new lows. [00:10:40][12.7]

Sascha: [00:10:40] Whoa. What was that you just said? [00:10:43][2.7]

Sophie: [00:10:44] Basically, when people are talking about this at the moment, it is suggesting that is this current sort of rise or improvement in stock prices and in the share market more generally, a temporary thing that is potentially soon going to be followed by another big drop. [00:10:59][15.4]

Sascha: [00:10:59] To bring it back to something we said earlier. Is it like a false reprieve? [00:11:03][3.4]

Maddy: [00:11:05] Oh. [00:11:05][0.0]

Sophie: [00:11:08] Yeah. [00:11:08][0.0]

Sascha: [00:11:09] Well, yeah, you shouldn't actually be wrong. Okay. [00:11:11][2.3]

Sophie: [00:11:12] And I think this phenomenon has kind of occurred and it's got this crazy name because we've seen it in the past in the stock market where there's been downturns, like, for example, the dotcom bubble in like the 2000, the market kind of burst. It went down. Then there'd be little periods where I'd go up and everyone's like, Oh yeah, it's happening again. But then it would drop down again. [00:11:31][18.4]

Sascha: [00:11:31] It's reminds me of like in January 2020 when my friend had a lot of really bad news, and I said to him like, Well, look on the bright side, it can't get any worse, and then COVID happens. [00:11:41][10.0]

Sophie: [00:11:42] Well, funny you say that, because we did see a dead cat bounce at the beginning of the COVID 19 pandemic. So between the wake of I think it was like the 21st and 28, the fib in light fib, US markets lost around 12% when headlines were really coming in that COVID was happening and there was a lot of fear. And then the next week the market rose back up around 2% and some people really got the impression that the worst was over. But little did they know that, you know, this was a classic happy cat dance example as the market subsequently fell 25% in the following week. Yeah, and I mean with the COVID example, we saw that the market did obviously recover afterwards, but it's usually we're looking at like this kind of short period. I mean, historically is always these little short periods where it kind of drops and then goes back up and then drops even more. [00:12:31][49.1]

Sascha: [00:12:32] Is there another example of one it's happened? [00:12:33][1.5]

Sophie: [00:12:34] Well, a specific kind of stock example was over that same COVID period that you were talking about is Wells Fargo, which is a big bank in the US. And over that COVID period, you know, there was a lot of uncertainty and there was a lot of loans defaulting. So we saw this bank stock price drop a lot. And then there was government stimulus. So people were thinking, oh, we're going back up. And then there was another big drop after that because again, it was just the COVID period where people were a bit worried about their money. [00:13:02][28.9]

Sascha: [00:13:03] So I've got a question well, not a question so much as a statement. It's like they always talk about the fact that investing is so much of psychology. And this to me seems like a really classic example of like humans interacting with the markets and kind of making assumptions that the worst is over when the storm is still about to hit. [00:13:21][17.6]

Sophie: [00:13:21] Yeah, and a lot of it actually comes down to herd mentality. Like you I get this. I don't know about you, Mads, but like, if I see stocks going off, I feel for some reason I just feel more confident to start investing again. Is that like I don't know what it is. I know that we always say that, you know, just have your conviction wherever it is. But when you do see the stock market go back up, I've seen my portfolio and I'm like, Oh, maybe I should invest some more. Like, I don't know what it is. So I'm in this weird reverse psychology of I have a fear that the stock market's going to go up before I've had enough time to invest lots of flow. So actually at the moment when it starts going great or when it starts improving, I'm like, God damn it, I haven't had enough. [00:13:59][38.3]

Sascha: [00:14:00] Time to put money in you. Like, the farmer was very ill. [00:14:02][2.7]

Sophie: [00:14:03] Yeah, exactly. But I guess what I am really wondering now then is are we in a dead cat bounce? How to sorry a happy cat, dad? How do we know? I think with this stuff and what I've been reading is that you don't know you're in a dead cat bounce until the cat goes down again. Yeah, like we don't we. We're not going to know until you say the market's full at this point. They could go up in a trajectory or they could completely fall. And if they completely fold, that's and you know, the dead cat happy dance has died. So when thinking about investing, I guess during this period, when you're saying go back up, you said that you feel sad, that you have you haven't invested more. But what's like your kind of lesson or learning that you take out of this kind of, I don't know, new market thing that we're experiencing together? I guess what I'm really thinking at the moment is dollar cost average, like in Kate investing at regular intervals because we don't know what's going to happen right now. Maybe the US, maybe the RBA and the Fed have done a really good job at raising interest rates. We have been able to get that soft landing on inflation and there's going to be no crash that everyone's sort of been fearing like maybe everything is going to be okay. And this just is the stock market is going to gradually start going up, in which case I want to keep investing consistently. On the flip side, maybe it's going to get a whole lot worse again. But either way, I think for me, I can't predict what's going to happen. If I could, I would be very rich. So I think the best thing is, is to stick to my strategy, which is invest at regular intervals and dollar cost average my way into the market. And I'm going to say from the research that I did when I did look back to the dead cat bounces that have happened in the past, you know, it does eventually. And obviously the historical patterns doesn't actually determine what's happening in the future, but it has always gone back up at some point, you know? So it doesn't really matter when you're investing, just as long as you sticking to your strategy that suits you. So bring it back then to the text that your friend sent you saying, what is a dead cat bounce? What was your response? Well, faster is a definite like what are you messaging me on our internal web chat? But he sent a graph and I understood pretty quickly what it was. And the question is, I don't know if I did, we would all be rich because we could predict based things. So I think let's not try, but let's be educated about what it is. So we understand when we say people were talking about it exactly. DUN Let's dive into it a little. More. And talk about how this is in the news at the moment. But before we do, let's take a quick break for our sponsors. [00:16:31][148.9]

Unidentified: [00:16:43] Hey, hey, hey. [00:16:43][0.6]

Sophie: [00:16:44] What's happenin? The lowdown is back. Very exciting. This is becoming one of my favourite segments on the part on the on Pops. You are such a researcher. Like, you love this stuff. I love a news story. You love a news story. These stories send me lots. I love it. So we talked about at the head of the episode. One of the things that is contributing to the rise in the market at the moment is reporting season. And a lot of companies are coming out and releasing news that I guess is a little bit better than maybe what a lot of analysts and investors were thinking that companies might be releasing at this point. And when there's better news, it usually correlates to a share price jump, right? Yes. I think generally in reporting season, it's quite interesting. We we do tend to save quite a lot of share price movement at this time because the market does respond to the new news that comes out around performance. And I'd say that I guess on par with what people were thinking, or it might be better or might be worse. So you do tend to see a lot of share price movement and volatility during these periods. What is one of the bigger news stories that you've seen around reporting season? Yeah, one headline that really caught my eye was on the ABC and they reported that the ASX closes at a ten week high rise as BHP unveils record dividend. Nice, you're on back. This is Matty's new favourite sentence, by the way. Do you want to unpack that? So bearish phase share price jumped 5% last Tuesday after reporting its second highest annual profit ever and a record annual dividend. And I guess the reason why this headline caught my eye is because companies like BHP, the big mining companies in Australia, so BHP, Rio Tinto, Fortescue are really well known for being dividend paying stocks. So the fact that they have announced their largest ever dividend really made me think further about what's going on here off the back of that. What I find interesting that they're paying such a large dividend is that, you know, during a time like this when, you know, there is a lot of volatility and uncertainty, a lot of companies try and kind of keep cash on their books just as like a little bit of a safe haven because you never know what's going to happen. They might need the cash. So it's interesting that they're willing to, you know, kind of pass on that profit to shareholders. Yeah. So just a reminder, dividends are a way for the company to, I guess, reward its investors by sharing some of its profits through sharing income or via dividends. They can be paid quarterly, half yearly annually or not at all. So I guess whether or not a company decides to pay a dividend, like you said, comes down to whether or not the board of directors wants to share some of their profits and give back to investors, or alternatively, whether they want to reinvest the money back into the business, which, like you said at a time like this, a lot of companies are choosing to do because of the uncertainty around they might want to boost up their balance sheet a bit more on. [00:19:30][166.3]

Sascha: [00:19:30] An individual level as a stockholder, if I did have shares in BHP, what would happen is that like I might might have been expecting a $50 check and instead because they've announced this record dividend, I'm going to get a $100 check. So that's going to make me very, very happy. Is that what you're saying? [00:19:47][16.8]

Sophie: [00:19:48] Yeah, that's exactly right. I think you hear a lot about people sort of shifting to more dividend paying stocks when they get a bit older or when they're in retirement. And I guess if you think about that example, it's like when you are in retirement and you're not earning your normal salary from your job, getting that larger dividend income is really positive news. I think in the same way that retirees might look for that sort of stable income from dividend paying stocks, some dividend stocks also give investors a way to get paid or I guess get a return on their investment during more rocky periods where you can't otherwise get capital gains. So if we think back to like a year ago, you could have put your money in pretty much anything on the ASX and it would have gone up in value. You would have got your capital gain. But in the current investing environment that's a bit harder to do. I think there's a lot more up and down in the market, so getting dividends at the moment gives you that return on investment that you might be looking for. So why is BHP paying a higher dividend? What has happened in the background that's making them do well? Yes, so BHP is a commodities business and commodities is one of those, but I know what it means. But like what actually is it? Yeah, basically it's just like if you think of it like natural resources or agricultural goods. So Berridge pays a producer of raw materials such as iron ore, copper, nickel and commodity businesses can be referred to as what is called like an inflation hedge, which basically just means that they do well in inflationary periods or they tend to perform better when prices are going up where the broader share market might not be doing so well. Right. So they are selling their commodities on the market at a higher price, which is translating to higher revenues for them, translating to better earnings, translating to a higher stock price, which means they have more money to give to investors as a dividend. Exactly. And I guess. Like just to unpack that a little bit more. If we really think about, you know, what is causing inflation at the moment, we know that one of the key drivers is oil and gas. So when we think about companies like BHP, they are a direct beneficiary from the price of oil and gas going up because they're the ones who sell it. [00:22:01][133.5]

Sascha: [00:22:01] So we shouldn't be surprised that they're making a massive profit. [00:22:04][2.9]

Sophie: [00:22:05] Exactly. So this is a contributor potentially to a potential dead cat bounce or just what's happening in the stock market at the moment? Exactly. Are there any other earnings that you've heard of that have had similar kind of trends or. Yeah, well, I mean, a diabetes share price rocketed 19% last Tuesday as well. After that earnings announcement, I think it did come back down a little bit after that Templeman Webster shares also popped. So there's a few different things going on that. [00:22:31][26.0]

Maddy: [00:22:31] I like that. [00:22:32][1.2]

Sophie: [00:22:34] Tamplin Webs. [00:22:34][0.5]

Maddy: [00:22:35] Apart popped. [00:22:35][0.7]

Sophie: [00:22:37] That was the IFR headline. Okay. [00:22:38][1.8]

Maddy: [00:22:39] I thought that was, you know. [00:22:41][2.3]

Sophie: [00:22:43] But it's not good news in reporting sales and for all companies. Whilst we have seen a lot of sort of share prices really go up quite dramatically, not the case for everyone in our domain. I was writing about yesterday, it sort of came out, I guess it's not surprising a property business and the housing market isn't doing so well. Sidenote Did you know that domain is owned by Channel nine like nine entertainment? That's our random. Anyway, so we're saying that a potential factor to this increase in the stock market is the fact that we have earnings increasing for a lot of Australian companies, but not everyone is necessarily going through that at the moment and it's just kind of dependent on the sector and the industry. Yeah, which is contributing to that volatility in the market. Speaking of volatility, I have a lowdown story for you of it, which is actually about Bitcoin. Okay. So I know you've disengaged a little bit from Bitcoin. Your face. [00:23:37][54.0]

Sascha: [00:23:38] Is this Maddy's confession time? [00:23:39][1.3]

Sophie: [00:23:41] I just. Yeah, let's. Yeah. [00:23:42][1.8]

Sascha: [00:23:43] Just lay it on the table. Give us your, like, put your cards on the table for us. [00:23:46][3.0]

Sophie: [00:23:46] So it's been very good. You've in the way that I set up in dollar cost averaging into the share market over this period, I just I haven't been as good with my crypto portfolio, haven't been as good as you. I've disengaged but it's not, it's not even being good. It's just it's where your investment strategy is at the moment. It's something you don't feel comfortable with. It's like something that I'm feeling comfortable with. So that's okay. And the fact that you're not is okay as well. I've been neglecting my crypto portfolio. Well, what I found really interesting, because I am still quite engaged, is we were talking about how the stock market has gone up and a similar thing is happening with Bitcoin and Ethereum at the moment. I find it so interesting because there was a while there were people were really saying like the crypto markets move in the opposite direction to the stock market, but over the last 12 months or so, they've been doing the exact same thing. Yeah, well, what I found really interesting about this, so, you know, Bitcoin has shot up quite a bit. Etherium has gone like, bonkers. I should check my crypto portfolio. I think it's up like something like 85% since it's low this year. And on your point about the fact that it follows the share market, what's really interesting that I'm reading is people are wondering whether, you know, if this stock market thing is a dead cat bounce and the stock market will drop, whether crypto will go up and that'll be a test. But if it goes down, it's like, no, it really does follow the stock market. Nice. So what you think it's going to do but the stock. Well, Andy, again, wouldn't we all like to know? But no, I think one of the things is, you know, you've spoken about earnings season and I wanted to point out that in crypto markets, there's patterns as well. So, you know, there was an announcement that that the merge of the new Etherium is going to happen in September, which is that it sounds like a lot of jargon, but really it's just merging the Etherium platform to make it a faster, more scalable and more environmentally friendly. [00:25:35][108.6]

Sascha: [00:25:35] It's like an iOS update. [00:25:36][0.9]

Sophie: [00:25:37] Product. [00:25:37][0.0]

Sascha: [00:25:38] Except it's far more complicated than that. And you should go listen to crypto curious. But that's basically what I'm telling myself in my head. [00:25:45][7.0]

Sophie: [00:25:45] Got it. So that's what saying arise in a etherium and you know, people are it's again that herd mentality. Bitcoin's going back up so people are going, well, should I jump back on the train before it goes back up to 80,000 again? You know, you had those little thoughts exactly what I was thinking. So I was I just I thought it was interesting that a similar thing is happening with the stock market. And I'll be really interested to see whether there's all of a sudden a crypto dead cat bounce. But I'm sure there'd be a way cool. A name like someone with crypto eyes is to have like, yeah, let's let it be like an NFT or like a digital dude bounce. Yeah, like minting. So I was just showing you crypto Tuesday. 

Maddy: [00:26:23] But like.

Sophie: [00:26:25] Anyway, this, this headline which you would like was Bitcoin's Rebound, Dead Cat Bounce or Sign of nine lives. Much more positive. Yeah, yeah. 

Sascha: [00:26:36] Very good rule with that. So at the end of the episode, but you're not getting off that easy. I wouldn't recommend. Patience from both of you. What have you been watching? Reading, listening to entertaining your hours with suggestions, please.

Sophie: [00:26:50] I listened to. I know this is. I'm sorry. I feel like I'm going to be a broken record here because it's the daily again. But they did an episode about Girl Scouts and Boy Scouts in America and they asked these two female twins about their experience. One of them wanted to join the Boy Scouts. One of them wanted to join the Girl Scouts, and it wasn't allowed. Anyway, it was an episode from a in like seven years ago when they did it and then they have spoken to them again. Oh, that's so cool. And it was just so cool. Like, there's this young girl who's just so self-aware and knows exactly what she wants and I don't know why. I just thought it was a really beautiful episode. I think it frames that conversation really nicely. It's good to get a young person's really fresh perspective. So apologies for, you know, shouting out The Daily. I know we do it all the time, but it was a good episode. The Scouts my head like a fake thing and it was like a mythological. It's a it's a big thing in the U.S.. Yeah, we had yeah. My recommendation is a podcast called The Party, right? It's a politics podcast and it's got two posts from Kelly and Patricia. I'm going to can't say her name. Nevertheless, I think thank you have P.K. and P.K. and it's giving like I think since the election, I haven't been engaging so much in politics and it's just a really nice light-hearted, but sort of really interesting commentary on everything that's going on at the moment, sort of week to week. So I'm really enjoying the party room. Well, maybe Matty, I will have a listen to your recommendation because sometimes I don't do that. So I will do it this time and I will listen to you. Thank you. I guess that's the end of the episode. As always, if you would like to continue the conversation, jump into our Facebook group, Y J Say Investing Podcast Discussion Group. I'm thinking in a thread on a better name for a dead cat bounce. You can also join us on Instagram at Y idk podcast. We just cracked 7000. 

Maddy: [00:28:45] By the way. Oh I was scared. It's going to go back down. It does some good. Send this to your friends. 

Sophie: [00:28:52] It's a beach haven for us guys. It is. It's very exciting. But hopefully if you go on now mean not under that number but it's six, 999. 

Maddy: [00:29:00] Send it to someone monthly. 

Sophie: [00:29:02] And plays. If you enjoy this episode, pass it on to a friend. We really appreciate it. Otherwise you'll hear from us next week. Catch you then guy you're in.