Confronting MeetKevin | Revealing His $12 Million WallStreetBets YOLO

welcome back to the 51st ever episode of the iced coffee hour i'm meet kevin and so far the show has made fifty six thousand seven hundred and sixty dollars welcome aboard wow that was so good yeah you're a pro at this man so for those not aware meet kevin has a fantastic youtube channel where you basically stream 24 7 you post like six videos every single day about the stock market the real estate market what's going on with uh stimulus plan it's it's a bit of everything when it comes to finances and you've grown a lot over this last year you've tripled your channel haven't you it's been insane i think i went into 2020 with like 290 000 subs so whatever that is it's been nuts wow great work man you put us all to shame with how many videos you're posting you basically do in a day what uh what we do in a week throughout four channels in a week yeah oh no stop well i love your guys variety i'm jealous about your guy's variety i feel like i'm stuck in this chair you guys got the the show you got the vlog i'm jealous man the reactions i love it why don't you do a vlog uh well first of all we're not doing anything you know we're still we're still kind of we feel cloistered at home and it's really boring we can't wait to get out again we want stuff to open i need to get out of here i'm going to lose my mind i'm going to start throwing things but you would be able to set up a vlog now so that like let's say in a month you would be starting to do things you can like just set up like a blog channel or or just set up kevin yeah no set up a channel hire somebody to just vlog for you they do all the filming they do all the editing so that by the time you actually go and do stuff you're in the process of buying a house right now right vlog that's true try it and get one under contract yes and you're and you're trying to have a another child right i mean maybe don't vlog all of that or do it's elective right so if you could vlog really easily and you had someone else take care of everything would you consider doing it yeah i think that that'd be a consideration if i was doing stuff like uh you know we we i'm hoping by the summer things open up and i'm totally gamed like if i could just do my morning our morning market live stream and then do the closing live stream i got like another six hours of the day let's go let's go to the beach you know be at the beach at like 1 30 1 45 whatever do whatever i think it'd be fun yeah sure i think that would do so well like meet kevin's family something like that the stam mustang you got to have it like yours jeez but you know what else you could vlog you were telling us right before we went into this about a 12 million dollar yolo bet what's what's this about yeah so basically what i did is i i paid off all my margin which was something that was kind of just like i don't know i'd look at it i'm like how why do i have six million dollars in margin like if the market went went to the toilet uh i can't come up with six million dollars at the snap of a finger and pay that off so i'm like this is not so good uh and and i i really believe that any kind of short-term thing would just be short-term but when you've got margin man these banks they got you you know they got you in such a position where they can really uh you know sell everything you got to pay off that debt and sell you at bottom we saw that with gamestop too when gamestop the first time around started crashing robin hood just starts liquidating people yeah so at bottom prices too so i uh i decided to uh sell it was uh nine and a half million dollars of stocks is what i sold uh and i bought uh back 3.9 million dollars in options uh various different expirations uh and somebody did this calculation for me i did a rough calculation they did the exact calculation for me and the exact number is if i were to want to have the same upside with shares as i have with that 3.9 in options i would have to have 12 million 176 thousand dollars in shares so i'm basically controlling that much potential market value with just 3.7 million and since i sold like nine i got rid of my six million in margin and i'm actually controlling more exposure to the market now isn't there a chance those options expire worthless there's a chance so there's a chance so so your downside is going to be three something million dollars if you exactly lose this right so my my the way i was looking at this was that if uh uh if there's like a margin call you know if the market goes to crap i mean the odds are the market wouldn't go to crap i think it'd be pretty low to get margin called i've never been margin called it'd have to be some crazy crisis but uh the worst case scenario on having the margin is they uh they liquidate your shares at such a low level that you've now the market's crashed to such a level where they sell you out at bottom they eliminate your margin they take away your credit line so you can't even buy again at bottom if you wanted to because you'd had nothing you'd probably be throwing in cash to try to prevent the margin calls so you wouldn't have any cash and you'd kind of lose half your portfolio quickly through uh through a really bad what could just be a flash crash who knows maybe some crazy thing happens in in june and uh you know the s p 500 and the dow is down 40 who knows right whatever the new covet strain or whatever and so i thought that okay there's a big risk that gosh what if like you know potentially uh you know six to seven to ten million dollars of your portfolio just get eradicated and i thought okay well here now i'm only taking a 3.9 3.8 ish million dollar risk and i don't believe that's going to go to zero it could go to zero if i held them all but i can always trade for longer term options out in the future so even if there were you know setbacks in the market i could always grab like a 2024 option next year so since some of these are 2023s i'm optimistic that uh i'm gonna be okay but the whole rationale behind it is i think we're going i think things are gonna be great i really think things are going to get better so i've actually taken this i'm calling it a yolo because i'm taking much more risk because yeah you know the options fluctuate way more it could be a really stupid mistake if the markets trade sideways or downwards for the next two years but i don't see it i think we're going up and i'm pretty confident of that why not just go and buy the shares you'd be sitting pretty comfy just like four million bucks invested and then you would never have to worry about it yeah i don't know i i i don't you know about well uh i could have done that and uh i think i think that's where it becomes a little yellowy because i could have easily done that right we could have sold uh well i just wouldn't have had had to sell as much uh i could have uh what i did is i closed out my m1 finance and so i closed down my m1 finance to concentrate into my higher conviction holdings so i i had all these uh funds available and i found okay what do i want to do with this i've got you know 3.9 million dollars here do i go shopping for options do i go shopping for shares the beautiful thing about shares is you never have to pay taxes if you don't want to you could just hold them forever right and this was right before the whole joe biden capital gains thing yeah we'll talk about that in a second yeah oh yeah we got to talk about that but yeah i mean at the time i was thinking oh no problem we'll be able to uh you know we'll hold these options for long-term capital gains i'll have no margin and i think i think this the way i convinced myself to try to eliminate the margin is that okay well if i do options i could have uh no margin but potentially have a really big upside to where i end up way better off than where i was before like that 12 million dollars imagine that that or these options the option values if we get a big rally this summer or this fall that could triple or quadruple in value and so i look at that i go sweet i believe there's a chance that some of these things are going to do that maybe not all of the ones that i chose but i believe there's a chance that maybe tesla will maybe uh you know all tesla has to do is double in the options about quadruple in value triple to quadruple in value so i figure you know what let's let's do a little bit of a yolo it's 27 of my portfolio i really believe the market's gonna rally either this fall winter or beginning of next year let me put my money where my mouth is and if it works out i'll be able to look back and go dang i got rid of margin didn't miss a beat in the market uh and made more money it's it's just a bet you know why what i mean i think it's super smart and but only really obviously i'm sure you have but assessed your risk tolerance which i'm sure you have you said it was 27 of your portfolio i think it's super smart i've actually recently been buying some leap calls which i've never really done before but just i want to say in the past like month or two i bought like a couple uh long calls on uh on palantir because they were so dirt cheap like far in the money too and so far i'm up so yeah what makes you think what makes you so confident the market's going to go up well so a few things um one i think we have uh in my opinion i think there's an overvaluation right now in recovery stocks like restaurants airlines travel i think they've had this insane run since november and i think they're really overvalued for what are gonna be crappy earnings they're not gonna be good uh you know sure they didn't go bankrupt so the bankruptcy risk is gone and that totally makes sense like great the companies go back like simon property group's not a bankruptcy risk anymore so fine it's selling for 116 a share instead of 49 a share like it was in the summer when people were thinking that's it it's over moles are going bankrupt and we thought it might be years to get a vaccine right so the run that we've seen makes sense but do we really think simon property group it used to trade for 150 before the pandemic do we really think this is going to go from 116 to 200 anytime soon i don't i wouldn't make that bet what do i think is going to happen first tech doubling or that doubling you know i i'll stick with the tech and over the last few couple months here we've had a big old sell-off in tech and growth because of inflation fears i don't believe the inflation is coming so in part my bet is that we're going to have this period of inflation but that long-term inflation that people are fearful of i don't think is gonna be here and so i thought well how can i make a bet that if if my script and i realize that's that's dangerous is having a script but if i have a script of what the market does is it's garbage for the next you know what we've seen already the last two months garbage through the summer totally possible maybe sideways trading whatever we get all this uncertainty and doubt and fear garbage until we start seeing inflation trend downwards inflation starts trending downwards september october and all of a sudden markets look and go oh my gosh we just printed all of that money and yeah a bunch of other countries around the world did but we're the first to recover we have more growth in our country than we did before in 2019 and our trajectory's gone up which is crazy because the way i think about it is like we were on this trajectory he'd have hit this hole of the pandemic now we're not back to that same line we're actually higher than that same line because of all the stimulus that's been happening the amount of growth that's coming to this country is is going to be insane statistically that's what we're seeing so far the only thing that could stop it would be if inflation runs rampant i don't believe it will because historically it hasn't the last uh you know 20 30 years we've been on a downtrend 40 years we've been on a downtrend on inflation i think that's going to continue i side with the fed on this and so i say look i believe i'm 70 plus likely to be right in my bet and uh it'll work out well i think there's a 10 chance the market trades down and i lose all those options and i think it's less than 10 the fact that they would go to zero i think is low because i would probably trade into longer terms like in 2022 i just trade up for longer terms 2024s or whatever uh and then i think there's this 20 chance and this stupid ear things bugging me but i think there's a 20 chance the market trades sideways which uh which would be bad as well but so i look at it i go hey look if i can play roulette and somebody tells me i got a 70 chance of winning 70 plus percent chance of winning and uh 20 chance that you're kind of break even-ish i thought you know at the same time as me being able to get out of margin while still having more exposure to the market i'm like sign me up worst case scenario if i lose that 3.7 not gonna make a difference in my life what are you seeing kind of crappy right now in the market because you say things you know aren't looking so good right now they're gonna be kind of crappy between now and through summer the only things that i'm really seeing crappy right now are spacks a lot of cause because a lot of tech is still relatively high when you look back from even six months ago we're still better we might not be as high as we were in january february but we're still doing pretty good yep yep yeah uh and this is true whoa where are we graham i don't know man but i'm just on public right now public but we're in private no public the free stock trading app what tell me more yeah it's a free stock trading app where you could buy and sell stocks for as little as a dollar and best of all they don't route your order flow oh my god that sounds amazing yeah but not only that there's a social media feature where you could see what your friends are buying and you could read up on stock information wow it seems just like twitter but all about investing yeah and best of all if you sign up using the link down below in the description they'll give you a free stock worth all the way up to fifty dollars how much up to fifty dollars wow is there anything else i should know yeah when you deposit a hundred dollars on the platform by may 7th you'll be entered for a chance to win a completely free stock of tesla wow i'm gonna do that right now should our audience do this too absolutely you too could get a free stock worth all the way up to fifty dollars and plus you could follow me in public and see exactly what i'm investing in awesome thank you so much for doing it right now i look forward to seeing you on there and now we should get back to the video so um there are a few things going on and uh it's it's uh dolly so i guess the place that i believe to start is i think people have first of all a lot of fear that we are having this this this massive inflation is coming and it's here to stay in fact i would venture to say that probably 80 to 90 percent of people who are gonna be commenting on this video i'm going to say kevin's crazy like inflation is here to stay i get it i think i'm making a contrarian bet here i think i'm not siding with the majority of people i think i'm siding with the minority people who who actually don't think inflation will last and that's because inflation feels so real right now because we're seeing prices of everything go up around us uh and there there are no shortages of anecdotes uh there might be supply shortages but there are no shortages of anecdotes of people saying oh this is more expensive this more expensive of course pandemics screwed up a lot of things but i think we're going to go back to lower levels of inflation because i believe so much in our global supply chains that companies are competitive they don't want to raise prices they want to beat their competitors they want to have more market share and they want to do so more efficiently which they can also thank you because the pandemic because so many people are working at home now you just cut out business travel one sales person can talk to 50 people in a day where what used to be you know one medical sales rep going to maybe three doctor's offices in a day now they're going to 20 or more you see what i mean it's to me we are we are seeing so many deflationary polls in in other words companies being able to have more profit margins just simply because of how how common it is now to telecommute you think you do a sales presentation on zoom before the pandemic no freaking way now yeah where how else would we do it you know what i mean so i'm yeah i'm wondering with your sales rep uh analogy there i'm wondering let's just say doctors are now inundated with just zoom call zoom call zoom call don't you think then that the tables are gonna turn and now now you're gonna think like well i'm gonna be the only one who's gonna show up in person and then all of a sudden that one in person person is going to stand out above the rest because they made the effort to show up i'm here here's what i have to offer and i feel like it's it's easier to say no to somebody over a call i think when you're in person sometimes you have that energy that it's like you you want to do business with that person because you see them face to face i don't know if that's going away anytime soon look there's no nothing's ever gonna i think in the long term replace the handshake deal right getting in the boardroom and making a deal i think though and this is just the the excitement that i have about where our market is heading i think every company is looking at it maybe maybe not just sales but it's every layer of the company from human resources to gosh i'm sure internal i.t support everything going a virtual now uh everything is so much more streamlined and these are all all these numbers are going to show up in bottom line margins especially for these tech companies so there's that big shift that's massively deflationary uh and and so i think i'm gonna be right about inflation i think we're gonna have low inflation you might be right yeah i mean the handshake deals at some point they will come back uh but then again you might have doctors who are like look you know for me to sit down in a meeting with you i could be meeting with 10 clients like this isn't worth my time who knows we'll see what happens but that's a good counter uh but it's not just the inflation argument you've also got a lot of hedge funds right now shorting the market uh and partially de-leveraging a lot of de-leveraging started happening after the archaegos fallout which when people spend if people take on less debt or companies take on less debt they they put less buying pressure on the market so you see stocks have well less buying pressure uh then you're seeing hedge funds short because they're like there's no way these tech companies are hitting these earnings because the earnings expectations are through the roof so hedgies are shorting if they're right they have their long positions if they're wrong they don't lose their clients because they have their short positions but that also puts downside pressure on stocks i think all of that is is uh weighing on the market so you have inflation fear you have de-leveraging you have uh hedge funds shorting you have the spec attack you've got biden doing crazy stuff with okay are we gonna print 2.2 trillion dollars or are we going to print 4 trillion dollars what's it going to be biden you say you're negotiable we don't know we got the corporate tax thing now we got the capital gains thing that just came out this week there's so much where people are like dude i don't even know what to make of all of this is the fed gonna taper soon everybody's like chicken with head cut off and that's when i want to double down in the market you said that you think there may be a 10 chance that the inflation happens or whatever if i if i remember correctly what do you think that 10 chance looks like and what would hap like what would have to happen to cause that that 10 chance yeah so 10 chance of me losing all like like having a having a bear market by the time my ex uh my options expire which which would i think relate to being wrong about inflation so i think in september uh october by then we'll know we'll see inflation numbers are going to come in very high over the next two months the highest we've ever seen uh you know here are may reading for april june reading for may they're going to be a disaster the headline numbers are going to be 3.5 3.6 percent it's going to be the ugliest numbers we've seen forever or at least in uh in the last you know 15 20 years i think the problem that happens is is that number's gonna come down it'll naturally come down to probably 2.5 or whatever and so what you're going to be looking for is come july august you're going to be looking for that number is it trending back up that's when the problem happens so when we get rid of those base effects from comparing the last year we actually get to normal numbers again if we start seeing that inflation trend go up and all of a sudden it's like oh man we had more inflation in july we had more inflation in august we had more inflation in september it's trending up then you know the fed's going to start going uh-oh that's not good now all of a sudden uh that that whole argument of stable prices is potentially going to lead the fed to act sooner especially if at the same time the unemployment rate is falling so which i expect it will uh unemployment runs out in september so people are going to be looking for jobs the people who are unemployment hopefully people are already looking for jobs so at the same time as the unemployment rate plummets if all of a sudden july september august around there we start seeing that inflation rate trick up as well fed's going to u-turn and they're going to end up having to raise rates much sooner than expected and we'll probably see that 2022 rate increase that's when things are going to get really blurry because they really screwed up in 2018 when they tried to do this uh graham i think we were actually we were at some something in um oh gosh where was it it was like beverly or not beverly i don't know maybe it's holly west hollywood or something like that the driven the driven conference oh gosh yeah so that that morning i actually did a live stream uh prepping uh on my phone i was sitting there like at the registration area i did a live stream on my phone hey guys okay look this is what fed chair jerome powell just said like same thing i'm still doing today which is crazy because it's like three years later but uh they screwed up you know they jacked rates up in in may and that summer they spanked real estate real estate prices plummeted uh you know 10 15 20 today you did a video on real estate prices going up 17 they could fall that in in two months if they jack up rates too fast they failed in 18 caused a market crash at the end of 18 that same thing could happen again and that's my 10 scenario that's gonna suck got it do you think though it's possible to have inflation with somewhat high unemployment like to the point where possible yeah like to the point where you know they want equal employment for everybody is it possible that they don't achieve that but inflation still comes up and they're at a crossroads between what do we do do we go against what we said we're gonna do or do we just let inflation happen or we raise rates and then all of a sudden everything we said means nothing yeah could happen so black unemployment for example right now is like 9.6 white unemployment is 5.4 percent and uh it's entirely possible that the entire unemployment rate doesn't get down to those lower levels until like 2023 or something so imagine we get to the end of 2021 and we we barely get to 5 or you know what unemployment stays stuck at five and a half percent for some reason uh or six percent uh elevated levels and then all of a sudden we see inflation because you know the supply chains are still broken yeah can that happen totally totally that could happen and the that persistent inflation might stay if all of a sudden people are are continuing to pay prices and there's there's less competitiveness to bring those prices down because maybe it's harder to start a business maybe it's harder to open another lumber mill maybe it's harder to open another uh you know circuit factory or or maybe it takes two years for for a factory to get up and running to compete sure could we be in an era of high inflation for the next two years yeah that's gonna suck and and that would be entirely because all of a sudden maybe there's more demand than we really have the supply for despite everything maybe firing on all cylinders again no covid but we still need that many more factories but it takes that much time to do more factories or create new factories yeah yeah sure we could definitely there is a scenario where we can see higher inflation for the next few years do i think it'll be more than like four percent no way like i i don't see any scenario where it goes over four percent but the fed's gonna panic if it sits at three percent longer than i think these next two months you know they're gonna be expecting it to go to two five bob around that two five range their measure of inflation the pce yeah yeah but it but if it goes up more than that yeah they'll start panicking i think but for now they're just steadfast and the market's starting to believe them that's the other thing what's weird is the market's finally starting to believe the fed again and we're starting to see yields come down the 10-year treasury's coming down the five years coming they're all trending down that's a sign the market's starting to believe them again couldn't you couldn't you argue too that inflation would be good for some asset prices like wouldn't you believe that for real estate yeah great in the long term okay very bad in the short term so uh because they're going to jack up rates to combat inflation which is terrible in the short term for real estate in the long term if we actually have real inflation oh come on yeah like it's it's it's wonderful it's wonderful if you own a bunch of debt uh especially on real estate in fact i want to go buy more real estate one the other reason i paid off my margin i haven't mentioned this but another reason i paid off my margin is because i now got six million dollars or actually no it's like seven seven or eight million dollars if i wanted to available in credit lines to where if i let's say found a deal i had to put let's say i got together eight million dollars and i found a deal i had to put i don't know 35 percent on divided by 35. uh i could buy a deal for 23 million dollars if i wanted to i could go find some multi-family building by a 23 million multi-family building now i'd be taking out that margin again i'd be taking a big risk but if i found a big juicy building the tax write-offs on that i don't think i'd be paid income taxes this year now that's a good segue to what's going on right now with the uh the capital gains that would be a huge win for real estate i gotta say i would be tempted if if capital gains stayed at uh let's just say 40 percent plus it's an additional what is it 3.8 percent on top of that so we're looking at uh yeah so let's we'll call it 43 44 i would be very tempted at that point to stop investing in the stock market and actually get back into real estate i'd be very tempted so funny you say that i could not agree more uh in fact just the last few days i've been looking at real estate every day probably 10x what i had been uh quite frankly i uh look in may i went ham buying real estate last year i'm very happy i did i bought 11 properties last year it was insane too much at once happy i did but once i got overwhelmed in august with all the projects i was doing in real estate i'm like that's it i'm done i don't think i've looked at redfin as much between august and uh probably what april yeah august to april so what is that i don't know like eight months or something like that i've probably looked at redfin and zillow and realtor.com more in the last two days than i have in the last eight months right you know a big thing for me that i was actually thinking lately i've been doing a lot of investing in startup companies and the advantage for me there is that i could lock in my basis right now and that my hope was that four to ten years from now who knows when i would be able to cash out this very large amount and utilize the long-term capital gains but if i have a choice between taking my money now and having access to it today then being taxed almost 50 percent 10 years from now i would almost rather say it's not worth it anymore it's better to have the access to the cash now go and buy real estate and take a risk tying up my money for five to ten years that's huge and i think that's going to be a big deterrent for a lot of investors a lot of startup companies if that happens do you want to explain exactly what the new proposal says because your integrity is off right sure so they're actually call they're calling it the death of a potentially silicon valley so uh because of exactly what you've described because think about it venture capitalists in silicon valley they're they're trying to do exactly we're talking about they find small startups and hey let's invest you know uh a million dollars 10 million dollars 50 000 whatever any range depending on if somebody's an angel investor or vc uh and uh they're they're looking to cash out the point of doing these startup investments is to cash out at some point and you can't exchange that which is just a tax way of saying when you cash out you pay taxes so the the old school mo was angel invest in the robin hoods the facebook the coinbase whatever when they're tiny then motivate them to ipo when the market seems ripe go ipo or direct list whatever and what it does is it lets all of those original investors out it lets them all out and those are some sweet long-term gains taxed at 20 for you know if you're making over like 500 something thousand dollars it's taxed at 20 plus your state uh if you're making less than that it's taxed at like 15 if you're making less than 40 grand capital gains or taxed zero percent ish i'm rounding on those numbers right around there the uh the new proposal how do we get back here this is weird i don't know i'm still on public though public i thought we're in private i thought we're in private no jack you're just dumb oh i guess i am dumb for not getting my free stock worth up to 50 on public you haven't done that yet i haven't oh my it takes you just a few minutes to do and the stock is worth all the way up to fifty dollars fifty dollars yes fifty dollars and i also heard there's actually an event going on if you deposit a hundred dollars by may 7. yeah you could get a completely free stock worth of tesla tesla tesla elon musk and that's almost 700 right now yes assuming the current market price as of today well graham how can i sign up you don't remember i just told you like a minute ago yes you could use the link down below in the description it's totally easy to do and they don't route your order flow oh my i will do that right now thank you and we should get back to the video what happened to kevin we left them hanging back to you kevin back to you kevin says that okay as soon as you make over a million dollars of income all of your capital gains doesn't matter if it's a dollar or if it's a million dollars or 10 million every capital gain that you make once you make over a million dollars is a tax that ordinary income levels which uh biden expects to raise to 39.6 percent add to that the obamacare investment tax which adds 4.8 now you're at 43 point was at 43.4 percent in taxes add to that your state tax uh you guys are in vegas y'all lucky okay 43 point what did i say here 39.6 plus the 4.8 that's uh i don't know somewhere around like the 44ish level uh plus california 13.4 i'm paying 57-ish percent in taxes that's insane so now this is why they're talking about the death of potentially vcs in silicon valley uh and the death of silicon valley it's gonna it's gonna end up being texas like people are gonna start doing this in austin texas more florida more miami it's gonna be miami and texas are gonna be the new hubs maybe seattle probably not seattle austin and miami probably buy real estate there that would be a good idea by releasing vegas yeah you guys got to get vcs in vegas i mean you got the conventional centers so uh i mean now think about it if you're in california you're you're giving almost 60 of of your long-term gains uh to the government if you're a venture capitalist like why why bother so that begs the question okay well let's say let's just come up with an example if i had and this has important implications too for people even making under a a million dollars because it affects them and i'll show you how if now somebody says okay i'm gonna take 20 million dollars and instead of putting it into a vc fund which raises valuations of companies which helps raise ipo prices and helps raise stocks it all trickles up uh those stocks those valuations go higher they ipo higher people cash out they have more money to go buy other stocks it's all part of the big game so now instead of maybe the vcs putting that 20 million dollars in to i don't know startup you know the next makeup startup or tech startup or whatever they take that 20 mil and go i'm gonna go buy a 100 unit apartment building somewhere then they take like a 30 cost segregation write-off they instead of in the future paying 60 on their long-term gains they go today i'm gonna save eight million dollars in taxes while i'm investing in this because i cost segregated it especially if they they call themselves a real estate professional which i think a lot more people are going to become real estate professionals after this mess but then they go in the future 10 years down the road i want to sell this building just 10 31 exchange it aka don't pay taxes because you're just gonna put those in the next building do it forever and in the future when you die pass it on to your children tax-free right well isn't the world i mean then you have the estate tax which then you start getting into taxes then you'll then you'll set up a trust yeah then you start having to do some funny things but uh slowly divesting your portfolio but that's that's problems like if you're a couple that those are problems when your assets are over you know your net worth's over like 23 million dollars right at that point you got other problems but yeah i am worried that uh i'm legitimately concerned that if that does pass a lot of investors and even entrepreneurs would say what's the point if i sacrifice everything to start up a business i'm gonna work away at it not making any money let's say for five years with the hope of maybe one day it's gonna pay off they'll think you know what's the point if i have to give sixty percent of that away i'm not even gonna bother why do that for forty percent of the upside when i could risk a hundred percent of the downside oh yeah i i mean it's it's a calculation i mean it's i think the entrepreneurial spirit will still be there there's still going to be people who are like look i'm broken in a basement i got an idea look i you know maybe i'm making 10 grand working at red robin you know going from 10 grand to 100 grand income is going to be huge for them so i think the entrepreneurial spirit will still be there but at what point does it become limited and i think that's that's where what you're saying is so right because at what point do venture capitalists just say you know what i don't want to invest anymore i don't want to do vc anymore because what's the point why why i'm giving away so much money i think that's where the issue comes is the funding for those entrepreneurs is is going to be less and uh future valuations will be lower it all it all balances out like they say there's no free lunch but i remember 2015 i did the most deals i ever did in a year it was like 61 deals or something like that by myself without an assistant that was the most stressed i've ever had in my life and it was so toxic it was bad and i remember sitting with my father-in-law for beer i'm like i just worked so hard to have the biggest year of my life in real estate which was i don't know like probably somewhere around 600 grand in commissions or something like that which is really freaking amazing and the expenses are so low in real estate i probably had like 50 grand of expenses so here you go worked so hard to make 550k built this business up for five years and now it's this is awesome this is so cool and then i look and go oh my gosh every extra 100 grand i'm making i'm giving like 47 or whatever to the you know the federal government the state of california or more i think it was like 50 at the time why am i doing this like what's the point and in 2016 i consciously decided i'm going to work less and instead of making 600 grand being stressed out like crazy because i was so disillusioned with how much i was paying taxes i'm like i'm just going to take it easier i'm just going to have fun like why why am i working so hard to give so much to the government and i i still did well i had a 400 000 year you know after expenses be like 350 but it was way less stressful and 110 taxes had the influence in that wow that's wild so what do you think the chances are of this passing what i think is going to happen is that he's going to ask a lot they're going to ask for more than they know they can get and i think it's a negotiation tactic and they're going to start at 40 percent and then work their way maybe find a middle ground interestingly enough though i i did research on this a while ago this is a few months ago and i found a an article uh that actually dove into this further and actually studied this and they found that the optimal uh long-term capital gains tax was 28 in terms of encouraging people actually follow it not so much as to hold their investments not sell but they found that that was the ideal amount 28 to encourage people to still invest but while maximizing tax revenue that's interesting uh yeah so uh well a couple things there um do we think that uh biden well so first of all i don't think we're gonna see dc statehood dc statehood it would give democrats pretty much complete control they you know they they would have sway over uh the moderate democrats who potentially hold things up in this situation but i don't think that's going to happen because then joe manchin would lose a lot of his power so right now because that's the dc statehood's not going to get through the senate republicans aren't going to go for that you're not going to see that as budget recon so pass the house but it's not going to pass the senate the that leaves people like joe manchin uh standing in the way of what biden wants biden i think you're right wants to start high and come across as negotiating but ultimately as long as he gets his democrats on board he doesn't need a single republican he doesn't need to negotiate all he has to do is convince joe manchin so far the only thing he's joe manchin has complained about has been the corporate tax rate he says i don't want to see corporate tax rates higher than 25 he hasn't said anything about the uh capital gains tax you know taxing it and the way the biden administration is branding this is hey look it only affects one third of one percent of people they're right it does only affect the top one third of the top one percent now we happen to be in that so it sucks but uh but yeah that's the way they're branding it so unless you get somebody like a moderate like joe manchin coming out going no you know this is ridiculous joe manchin could end up going look give me the give me the 24 give me a 23 give me a 25 corporate tax rate and i'll give you your vote on the long-term cap gains for the rich folk uh yeah i think it could pass i would probably say i'm 50 50 on it right now wow that's actually higher i was thinking realistically there's there would be no way for this to pass as is i was i would expect maybe not 39 or maybe they do a tiered system i've seen a few different proposals from just random people online that i actually really agree with a few of them uh break up long-term capital gains in terms of how long you've held your investment maybe it's if you've held it uh between year one and year two you get taxed as ordinary income maybe your three goes down from 39 to 35. you're four thirty five to thirty and maybe a year eight then it's full-on long-term capital gains to really encourage long-term investment of longer than a year uh or have uh have it structured in such a way where maybe your first million dollars would be taxed at you know 25 percent the next million dollars would be taxed you know and have that be a threshold just like any other i think it'd be very massive bump uh and it's so sense i think that's uh i think those are great ideas uh i think they're they're possible uh yeah i think uh to to see any of those sort of take hold you gotta watch those moderates because it's it's not the republicans have so little power right now it's amazing just how little they actually have uh and i like those ideas and i think sure is is some a tiered system like that possible yeah but look you know i mean look back to what we have in history here and and it's it's been recent but i look back at the stimulus package joe biden says look we're gonna do the extra fourteen hundred dollars and we're gonna do uh the um he initially came out and said four hundred dollars was the plan through the end of september and so what they did was they took the 400 made it 300 that was a compromise instead of going through the end of september it actually only goes through the end of august so first week of september-ish and they cut the eligibility for the 1400 stimulus check uh a good chunk like a couple making 200k wasn't getting it isn't getting it at all anymore now at the cutoff's 160 instead of 200k so i do think there could be fine-tuning like that but the bigger pieces they still got still got the 1400 still got unemployment through basically september uh but yeah it is 100 less so is it possible we'll see some adjusting like that and and will it come with maybe some tears sure but i think it probably be a small adjustment i don't think it's going to be a really big adjustment like biden scott he's got a lot of power right now if he's got to give a few little concessions away to get get some moderates on board that he needs to get to his 50 votes that's what it'll give but i don't think it's going to be a big adjustment if you were to offer a solution to long long term capital gains what do you think is the most effective and reasonable rate that it should be taxed at i mean i i haven't done the research on that you know graham mentioned uh that he had and i thought that's great i mean personally i i i like uh you know if they're trying to pay for infrastructure which is what they're trying to do i would rather see them focus on on use taxes right i mean like tax i don't know i don't understand why they're not taxing carbon emissions i mean this has been this has been studied so many times the world bank talks about it the imf talked about it this morning they were talking about taxing carbon emissions and how right now the world's only valuing i don't know exactly the number but it was like right now the world's only valuing carbon emissions at like two dollars per i think it's metric ton i don't know exactly what it was something like that uh and they're like really if we want to have a green revolution we need to start valuing carbon emissions at like 70 a metric ton and uh and you know that's that's i think the direction you go you want to raise money tax the polluters uh not like what you know taxing and potentially robbing a venture capital of startup investments through these higher tax rates i don't i'm not heavily in support of that i'm also not heavily in support of a higher individual tax rate going from where we are now what the 38 percent back to the 39.6 because i personally felt that dis incentivization that's another word uh so you know where what's the right answer i mean to me which they're not gonna do i think the right answer is is where they're not looking it's and it's taxing carbon emissions to pay for their infrastructure but they're not even remotely interested in that so it's going to end up being something with capital gains and something with the ordinary taxes going up uh i j you know what i am grateful for so far is no mention and you know what if this is where we stop and it's it's no more no more of these tax changes i'm actually going to knock on wood maybe just seal my lips over here why are we here again i don't know man this is weird we shouldn't be back here then why are we here it's probably because you didn't get your free stock worth all the way up to fifty dollars oh i'll do that right now you haven't done it yet okay i'll do it right now it takes you just a few moments to do and you could get a free stock worth all the way up to fifty dollars with a chance shh bailey bailey with a chance to get a completely free stock of tesla when you deposit 100 by may 7. wow so i can get a chance to win a free stock of tesla that's it and it just takes you a few minutes i'll get on it right now all right let's get back to the video and hopefully we don't end up back here again because they have not talked about or they have not brought up again because they've previously talked one 1031 exchange getting eliminated oh yeah and the stepped up tax base is getting eliminated both of those are big because see my escape from this this new rule is just going into real estate well the steps of tax basis was uh implemented uh or overturned in california though well well so there i think i think then they're uh they're two different stepped up tax bases than we're touching on so there's the property tax basis which you're totally right on that that's that's gone that's what i mean property tax yeah so the property tax basis you're right that's gone and they snuck that in there i wouldn't be surprised that that comes up on a ballot again in california california is a mess right now with all the proposals and nonsense they've got uh the basis which really doesn't affect us the stepped up the other stepped up tax bases the other stepped up tax basis is you die and let's say you have a you know place you bought for 400 000 you depreciated it to zero and now it's worth 10 million dollars just be extreme if i sold it the day before i died on my deathbed i would have to pay capital gains taxes on 10 million dollars right after selling fees right if i die my heirs would pay zero taxes because they would move that basis from zero to ten mil and all of a sudden uh they could sell it the very next day after i die and pay zero dollars in taxes okay which is just crazy so that's that's what i was mentioning so what i was referring to is property tax yup yeah exactly so so that's where real estate is still this like uh and you're right california they sneak things in i mean that's messed up they got rid of that basis adjustment but real estate still has this this beautiful holdout right now that uh even though prices are high i'm really tempted to to double down and buy some more real estate especially if i can get my hands on a bigger building or even some more single families i'm in escrow and a single family fixer-upper right now uh and uh i just want more of them i don't even want the cash flow i don't care about the cash flow i just want to control the value because it's also if i'm wrong on those options the real estate is actually going to be a hedge because if i'm wrong on the options that means we have inflation which should be good for my real estate and my real estate debt long term do you think they would ever touch the laws regarding real estate or tax code regarding real estate to make it just as as as bad as as investing in like stocks and stuff no because the politicians they all got real estate they're they're not gonna pick up where they sleep so that's what it is the problem with real estate yeah that i feel like you don't have as much with stocks which sounds crazy but real estate is the fifth largest lobby it's one of the top five lobbies i think national rifles too yeah national realtor association is up there in like top five the nra sees this stuff about stepped-up tax basis uh and and uh you know 1031 exchange as soon as they see that the national association of realtors if i said adhesive uh national association realtors they get in there and i wouldn't i would not be shocked you start having the the lobbyists showing up in congress like hey wrote up an idea for you folks on biden's team here you go check this out oh doubling the capital gains taxes on people making over a million dollars yeah yeah it's a really great oh okay yeah we'll bring this over to biden and says nothing about real estate i wouldn't be surprised if you got a ton of people in the real estate lobby doing that stuff they don't want anything about real estate mention and guess what whether that's what's happening or not real estate's not getting mentioned knock on wood i wanted to circle back to the options just to know like what kind of investments you made in those in those contracts what kind of investments i made uh yeah like what stocks expiration date strikes and stuff like that yeah just like generally speaking obviously not every single one but the bigger positions i'll give you some examples here so i did this on tuesday which tuesday was a crap day like tuesday was bad everything was in the toilet and i'm like man if i make a transition into options and i leverage in more probably a good time to do it when everybody's freaking out uh i love i love uh taking advantage of freakouts so um a lot of them went into tesla yeah a lot uh actually this is a better spreadsheet uh no this is easier yeah so i've got i spread them out on tesla i got 650 900 1300 1725 and 900 calls all pretty much jan in march 2023 so they're pretty long and some in the money most of them out of money but then again the ones that are in the money i put let's see hold on let me see here the 650s uh 320 grand into the 650s 458 grand into the 900s a hundred grand into the 1725 like that's like the yolo uh 900 one has you know 353 000. so lots of tesla of course it's my highest conviction i still believe it people think i'm stupid and crazy for doing but i don't care i love tesla it's bad but i also threw a couple hundred grand at sea couple 150 grand in a lemonade 125 into neo these are all all pretty much 20 23's uh you know some money into some of the specs like matterport or cciv end face end phase i put i like it 540 000 into end phase options for january uh 20 2023 150 so i bought them slightly in the money i think they were like 155 at that point i think they ended at like 170 today the the share price and right now those options alone are up 129 000 they're up 31 it's like those end phase ones are just printing money right now uh coinbase down like 17 grand and most of the options that i got on to actually with the exception of coinbase every option that i got on tuesday is up so i mean that's it's very short term recording this on friday so taxes how do taxes work on options when you exercise those options yeah so i'm not going to exercise them i'm going to sell these uh the two things i can do i can exercise them but if i exercise them i lose the extra value because if i exercise i'm going to take the shares exercising is actually a great way to save taxes though because let's say i have this 650 call on tesla and then in january of 2023 uh tesla's at two thousand and then i exercise and i get the shares for six fifty hey that's great i buy the shares for 650 the market value is two thousand dollars right now perfect i'm up but i plan on uh oh and at that point in that scenario i wouldn't pay taxes that would be built into my cost basis of those shares because i'd just be getting them for 650. okay great plus whatever i paid for the contract but with options a good chunk of the value is hope i call it hopium just to make it simple uh and hopium is like well put it it could go up even more you know and uh i wanna i wanna profit off not only what it's in the money but off the hopium so i want that opium so i'll probably sell these well next time we get a big rally i'll sell them if we get a big rally next month i'll dump all of these options and i'll just buy shares again because i just don't want the stress but uh whether i sell them you know this year or next year whatever when i sell those contracts they'll just be capital gains either short term or long term depending on on when that rally comes and when i sell them so i will be looking at how good of a rally it is in terms of how much i'm up considering that i have to pay taxes how much am i net up and then does it make sense to take that net treasure chest and throw it all into shares and my goal is to be better off than where i was before except have no margin that makes sense it's a crazy yolo no it's smart a lot of the in the money stuff i'm totally on board with like the leaps and stuff with the in the money calls i love those that's like if i do do any like um long calls that's typically what i do and i bought tuesday as well which was pretty awesome but uh but yeah i totally i i agree with that i think that was smart to to get into some options like that yeah it's i will say though graham you've got this style of i just don't want stress and i i admire that because look i mean you know now i got to keep an eye out for that rally if i had the shares i i wouldn't have to you know yeah but keeping an eye on making a whole bunch of money that's not a problem that's not stressed your stress is i gotta keep it on the market so when i make too much money i i lock in this profit yeah i mean it could all go down too but but yes yes the the theory is that is what i'm waiting for gosh what do you what do you think of jack holding on to dogecoin what do you think of that he he turned his 100 investment into it was 9 000 like a couple of days ago a hundred dollars to nine thousand dollars can't believe that and yeah and had a and had i held my thousand dollars would have turned into like 91 000 at the peak i i mean i put 25 grand into doge uh and it turned into 75 grand and i sold it so fast because i'm like dude i made 50 grand in a day see ya you know i had same thing had i held i don't even want to do the math on that because i would feel when did you sell did you sell when i hit like 10 cents um i sold this was actually a while ago i think this was back in january like mid-january wow so it would have been back then like five cents six cents uh your order to buy one million doge has been filled for twenty five thousand dollars it was one million doge so what is that so a million so four hundred four hundred and ten thousand is that what it is no yeah that's what it is that's the value 25 cents right so times twenty five so it would have been two hundred two fifty so at this peak it was like four ten yeah gosh hey you still did better than someone that i know better than me oh yeah you you made money with doge i i i cannot say i've done that before to turn 109 000 is incredible why not you told me to sell when it was at 6 thousand you said sell right now and then guess what happened it went down but then it went back up to nine thousand right but then you would still be up fifteen hundred dollars where you are today but it's not about it's not about the quick profit it's about a the principle and it's about be sticking with profit it's been holding on to this for a year all right it's been marinating but like it's about it's about the principle at which you inve like why you invested on like in an investment kevin the grounds at which you you invested in which which for me was like i think it's funny that there's dogecoin i think it's cool it's unique and that's why i put it in and i knew for a fact i was holding on for life for life for life so you're gonna hold this until you're 50 60 years old i knew look that hundred dollars i was like this is play money this is fun money and i've had so much fun with it i've had so much fun and just because i made nine thousand dollars you know i get a comment every here and every like every now and then some somebody's like patting my back on the podcast or whatever they'll be like good job jack you're diamond hansing you know look at graham he sold out you know that the night of that he bought it or whatever and those comments like that make me proud to hold on to dogecoin even if sure i'm down five thousand dollars or four thousand dollars since its peak but but whatever that was a burn that was a burn yeah look wow it depends on how you look at it yeah if you are a hodler then good for you then then the fluctuations are entertainment they're fun there's something to talk about wow look what doge did today you're a hodler great if you're when i say if you're a trader fine do the fluctuations you're a hodler great hotel forever fine i'll probably hold tesla for forever i don't know maybe maybe something will change in 20 years who knows but that's the plan right now it's just a total uh i don't care what happens in the short term maybe that's the same thing with you on doge so uh that way when kevin o'leary tells me oh you know what if tesla goes down forty percent like well buy more you know it doesn't matter but uh i think there is uh a person that uh invested in doge and they put all their money in it because they see elon musk tweeting about it they put you know their their only hundred thousand dollars in and uh it turns into a million dollars and then they're like there's actually i'm pretty sure oh there was a there was a cnbc article about this this guy put 140 grand in it turned into over a million dollars at one point wow and uh so he literally became a dogecoin millionaire and i'm thinking myself and we don't know but let's say the dude works making 50 grand a year i'm like i'm reading this i'm like this is incredible dude like oh my gosh sell like change your life this is this is life-changing amounts of money for you i don't know how much you make but assuming it's like the average you know 50 60k or whatever sell what are you doing you just you got like 10 you know after taxes you got 10 years after taxes you got 10 years worth of working your job boom in two months what are you doing and in the article they're like well my plan is to hold on until it hits 10 million and then i'll sell 1 million and live off that and like okay look at some point it is fine it is i'm happy that you're bullish on a momentum trade but i'm not bullish on it i just want to make i just want to make it clear i'm not bullish i'm not bullish on dogecoin she'll make that clear to anyone who's watching so jack we're back here again oh no why is that because you didn't get your free stock worth all the way up to 50 dollars but i actually did this time i actually did check this out no way really whoa i know congratulations thank you i'm so happy wow did you pause it a hundred dollars too yes i did okay so now you're gonna be entered for a chance to win a free stock of tesla of what tesla oh my gosh whoa okay let's get back to kevin now back to you kev if it's a momentum trade and you got life-changing amounts of money gtfo nine thousand dollars isn't going to change your life jack fifteen hundred dollars a day that nine thousand dollars somebody could hack your robin hood tomorrow and take your dogecoin away and it would make a difference to your life this dude assuming he's working for 50 60k who turned ocean to a million dollars and and he's like oh this is the best thing ever it's the best thing sliced bread it's gonna 10x really it's gonna go from from a 50 billion dollar market cap to a 500 billion dollar market cap doubling what ethereum is right now folks like at some point and maybe it'll happen but at some point some logic has to set in that's all i got to say so you met with kevin o'leary how did that come about instagram no did you did you message him no they're uh uh well actually no i had messaged him a while ago but he didn't answer uh uh so but what happened was uh his like media coordinator or whatever was like oh i saw you on youtube and uh i i have these people who would be interesting for you to interview or whatever uh so i went into uh kevin o'leary's dms and you had already messaged us so like she was coming to message me but my message was in there and she's like oh this is perfect so it's cut a little bit of both cool and what was that like to meet him to me it was so real yeah a little bit uh it's probably i have to say i haven't been nervous for for an interview uh the only time i was ever nervous was was the robin hood one and i think it was because i was worried that everybody was gonna hate the fact that i interviewed the ceo so i was really worried about backlash so i was like sweating bullets like you know the pit stains and everything i'm like oh crap this could be really bad you know another one i was really nervous for actually was i did this interview with uh lauren southern like really really politically remember yes yeah that was that has like a 77 like ratio like the worst ever uh in a very very long period of time that i was nervous about very very nervous uh so i think the nerves come from like okay is this gonna be good or bad for the channel if it's potentially bad i'm freaking out i'm thinking about it from the channel point of view for kevin o'leary it was really natural because i we just get into talking uh it was um you know i i think it was it was interesting uh when when you know they sort of first pop in kind of like the zoom call and it's like oh damn there he's actually there you know like he's a real he's a real person like that that initial feeling was certainly there uh but yeah i mean um i mean it's fun it's all i could say i look forward to doing more things like that i'd love to get like politicians on like how cool if i if we could get like uh mitch mcconnell or nancy like is there gonna be a voice stimulus fancy they gotta start doing that imagine mitch mcconnell just streaming with pokemane or something they gotta start to seriously you know you know one of these days when like people our age are becoming politicians and they're really getting involved because everyone right now is like 50 60 70 years old imagine now when when we're in our you know 50s or 60s doing like you know tick tock dances and stuff like that for votes like imagine nancy pelosi on tick tock doing [Laughter] do i want to imagine her doing that and then at the end it's like vote for me race caitlyn jenner's running for governor oh yes yeah yeah yeah that so we start getting more of the uh social media incidents involved in politics guaranteed that's coming that's right that's where i think it's going because guaranteed if the rock runs for president guaranteed he would have a solid chance the rock the rock why him because he's likable let's say one bad thing about the rock i don't want you to you i don't want to try it try trying to try to one critique besides i did not like the movie uh that earthquake movie i did not like it that's the only bad thing i have to say about the rock he's a likeable guy he is yeah he's and he's with their daughter or his daughter pause it what about huh the the earthquake movie with uh his daughter yeah yeah what was that what was it called earthquake i forget it's like some apocalypse movie i didn't like that movie but san andreas yeah that's it san andreas it's just not that it wasn't wasn't his best work but overall everyone likes him everyone likes i would it's just a friendly guy and you would think that if he's if it like for international relations and and just any anything he says i feel like just people would just like the guy income's been plummeting has it been yeah man april's been rough like uh i don't know april's just uh i don't know if it's the markets or what but like views are softer there's less uh uh less less there's really less stuff going on you know there was so much i feel like there's so much more drama uh over this last year throughout the pandemic it was much more uh there was much more to talk about now i'm i'm like man i'm going to have to start going back to new burst pro real estate videos and i've got like 20 000 views man yeah i've noticed i think it's just less interest overall in the markets i think people are normalized to it i think they're getting out of the house now they're not paying attention as much as they are and when there's not something new happening like every single day i feel like they're just losing interest uh but i think i still think obviously there's gonna be that core audience that loves anything to do with the markets but it's certainly not like it i think will be or or has been over the last year so i've never seen it doesn't help the market's been trending down you know when the market's trending down i feel like you get people that uh lose faith in the markets especially folks who are you know look there are a lot of people who got absolutely burned on gamestop there are a lot of people who got burned on amc there are a lot of the moment i mean they're going to be a lot of people who are burned on on dogecoin or safe moon or whatever right they're going to be all a lot of these really high hype things that are going to burn a lot of people and uh or even the yolo options it's not a good thing that wall street bets shows oh look at my yolo bet here that turned into all this money and it was like a two-week call option or something crazy you know that's not good because it uh it really i think people try it they're like well i want my yolo too and uh when that falls apart they've gone in too deep and then that's it the markets are rigged and they never come back that's bad uh you know people already think the markets are rigged enough i personally i think i i in the minority on that i think uh i think there are certainly consortiums of things that go on like when the hedges all decide to short spax together i'm sure there's there's that level of riggedness but uh ultimately it just it comes down to the push and pull of everybody trying to make a buck out there and i think if you if you can be in your long stock positions you can make lots of money in the stock market but a lot of people are going to get burned out of it i don't know what do you guys think i don't know i think from an attention standpoint i would just say that there's been a big focus on investing a big focus on the market i think this has been the talk for really the last year and i think as we progress out of that people are just they're going to get bored and i think when they see the market trading sideways or they they don't see these 20 percent gains every month what's the point let me go focus on something else and maybe that will be a self a self-fulfilling prophecy where enough people get bored of it and that costs his stocks not to do as well in the first place and then even more people get bored of it but i think again like you said long term it's not going to make a huge difference and uh and in terms of youtube i feel like it's it's really just the algorithm will push whatever the or wherever the attention is and when the attention is on investing the algorithm is less likely to push it so that's what i think we're seeing i wonder if it could be due to the fact that like we've seen a slower or like a little bit of a recovery since that last huge crash that we had not huge but like the big crash i don't know what was that like two months ago or whatever i think like that crash because i remember your viewership was up like crazy oh yeah like during all of that and that was around the same time as gamestop yeah it was like the game really exciting right and then after the crash obviously like it it kind of stayed pretty low for a while and now since we're making a little bit of a recovery back that's just not nearly as exciting as like either continuing on the trajectory we were at before the crash or the crash itself you know like the recovery getting back to where we were is just like terrible but beforehand when we were shooting up that was i uh generally when the market is down viewership is up overall when the market's doing fantastic i've noticed fewer people are are interested in it like no it's funny no one cares the market's up ten percent whoa that'll be one-fourth of views as the market went down 10 here's what just happened oh for sure oh for sure 100 i mean march was uh probably one of the best months ever that that i had uh just from like all income streams combined and views uh views weren't actually as high as they were in december but the march was a really good month in terms of that but it was also a terrible month uh in terms of the market like the market was just on fire and there was so much drama coming out of february like you're talking about we're coming out of the the uh you know the um what's it called the game stop momentum trades and uh yeah march was really really incredible and so now it it kind of feels like we it's like we're going to the moon in january feb now you know end of feb march comes and it was just like a rocket ship going to the ground in certain sectors like you know tesla went to like 5 30 for a moment you know for a hot minute i mean like this was a rocket ship going to the ground people like no don't buy don't buy you're going to catch a falling knife meanwhile i'm buying the whole time i'm like yep i'll take some 590s i'll take some 530 i'll take some 610s like whatever i don't care i'll buy them at 700 whatever i'll buy uh and uh this rocket ship's going straight to the ground that rocket ship going to the ground was was i mean terrible for the market great for business uh and now it kind of feels like the rocket was falling out of the sky a little bit now we're we're doing this kind of like you know it's kind of like we're bouncing around right uh and uh it's it's it's not as engaging like it's not uh it's not fun to see the market go up uh you know oh it just went up 15 oh it just went down seventeen percent oh it just went up six years like it's that's what it has been feeling like this consolidation window that we've been in these last four weeks it's been exhausting not engaging it's uh it's unique too to you where you're kind of hedged either way in terms of your own income because if the market goes down you make the money back from youtube the market goes up you might make less on youtube but you'll make way more from your investments i never thought about it that way but yeah probably probably true how are you planning to diversify in the future because let's just say let's let's just say youtube cuts in half which i mean would still be fantastic but how do you intend to continue this yeah um probably uh i i mean i like what you mentioned earlier the vlog idea the vlog idea though it would have to be it'd have to incorporate something like if i could vlog the family in real estate great i would love to do that uh especially if it involved traveling like say i took advantage of that that texas and florida thing it's like all right we're flying down to texas to buy four homes this weekend like that could be fun you know take the kids or whatever and screw around to texas and and uh go house hunting or whatever and especially if somebody else was filming and editing it together uh because look i i'm not i'm not i would not edit it no thank you i i'm so burned out of editing i just don't even edit anymore uh which is great that we have that opportunity because like we have live streaming opportunities or even podcasts or pretty much like 95 percent unedited uh and so um but yeah for diversifying that would be really fun i would love doing that and and just getting out again uh there's always going to be news to cover but uh it's gonna be less stressful and i'm actually looking forward to that because the last year it's literally been refresh oh my gosh there's breaking news record the video as i'm uploading the video oh my gosh there's more breaking news like the last year has been so insane and this is why like sometimes they're like kevin how do you how do you do like six videos a day it's like well there's so much freaking stuff to talk about but when we get into this this normal period of time where it's like okay maybe you have like really exciting news twice a week well i don't have to be sitting here all day anymore i could go do the vlogs uh and then if something crazy happens i don't need anything fancy we could just i mean you know this just take our phone i could go live on my phone i can't believe what jerome powell just said and be that i doubt i would even lose viewers doing that uh just because news doesn't care news is about information and perspective so that combined with uh traveling and real estate that'd be beautiful that'd be my dream that's what i think you should do i think incorporate that maybe maybe taper off towards the end of the year do that do the vlog idea then we can merge vlogs imagine the collabs that we could do between vlog channels the family meets kevin i would the one thing i would do differently though is i would still be doing it on this channel you wouldn't change you wouldn't do a new channel i just i i don't want to split my attention you know i've seen two and look you guys haven't mastered okay i think you guys are the exception though because i've just and maybe it's me uh and i'm personally just like identifying this as more frequent than i think it is but i don't know but i think most creators and i could be wrong about this so it's totally opinionary but i believe most creators who create other channels end up favoring one and there's no look you guys have a wonderful set schedule you know you've got the vlog for one day you've got the podcast for one day you've got the three in the main channel and then what you got the three or three on the other channel it's so structured it's perfect it's literally perfect it's beautiful uh but i think most people who don't have that rigid setup end up favoring one channel and the other one gets neglected why would i do i don't i don't want to do that so for me personally it makes no no difference i'll i you know i've noticed the same thing i mean if i post more the views go up i post less the views go down it is simple the issue though is on a main channel you're going to get a big portion of your audience not watching a vlog because they have no interest in it and that is going to hurt the performance of your channel so by starting a new channel you're going to get those dedicated 100 000 views that they'll watch anything and that channel will grow so much faster because of that maybe and maybe i'm doing something wrong there i have this belief that when i post the video youtube is so smart the algorithm is so smart it knows who to show it to and i don't know if it's just the algorithm learning so quickly like you know they send out the notifications and batches so say they send out the notification to a thousand people at first and they're like okay for some reason way fewer girls are liking this one like way fewer girls are clicking on this one and older dudes are clicking on this one the next notifications might only go to those older dudes so i have this this weird suspicion that no matter what i post it'll end up going to the right person like the uh you know some of the podcasts i do there's there's literally nothing different in my opinion between some of the podcasts but some of the podcasts that have really really interesting broad information they get 200 250 000 views the kevin o'leary wants like 600 000 views wow you've got uh some miscellaneous ceo interviews really really niche topic 50 000 views and those could be filmed within a day of each other so you'd think if there was like some kind of punishment we wouldn't see that uh so i don't know if it's just my channel but i'll throw up a real estate video all of a sudden all the comments are people like oh my gosh thank you finally a real estate video maybe because they're watching more real estate videos and and youtube's like oh i haven't posted a real estate video because the people who are really liking this are also watching other real estate videos let's send it out that's just it's a crazy belief i have well so what are you doing to keep yourself busy uh the channel the channel all the videos that's it so i should just make more videos yeah i'm trying not to focus on anything other than just making a video that that's my only focus right now is just let's get these nine videos out a week nine videos nine eight i thought it's nine eight no so we got uh the millennial money that takes us from seven days millennial money okay so three on the main channel three in the second channel one on the podcast one a millennial money one on this to family nine yeah videos i forgot about that i didn't know you were counting that yeah yeah yeah okay nine videos that that's my only that's my only priority right now so and and right now i'm just i i take it year by year so i'm like i just got to keep doing this to the end of the year that's just that's because because when i think like five years down the line i get overwhelmed with thinking i gotta be nine videos a week for five years what um so i just take it and the end of the year that's that's the next goal post keep it going until then then revamp you ever see yourself ratcheting down yeah that's why i want to do the vlog that my dream one day would be the vlog you know has uh you know 2 million subscribers it's getting you know 500 000 views per video and we just have fun and the main channel will never go away that's maybe you know one video a week or two videos a week or a video is needed when there's something really big to talk about or when i really want to say something post on there but i think the vlog would just add a different element to it it would be fun then then i could do all the things that i've wanted to do that i can't because of the main channel like going and traveling go and do that for six months i can't do that and keep up this this the momentum right now so i think with the vlog i could still make it happen could still post amazing content um and get to do all of those things that i've always wanted to do that i haven't because uh my priority has been the channel well i mean i have to say i mean i i echo that i think that is a that is the dream right there is is i think people think oh being a youtuber's dream i don't know man being stuck in this box you know for 12 or 13 hours a day is pretty draining uh so but if if yeah if you had just think about like two or three videographers videographers filming you and they did all the editing for you you literally had to do nothing and it was just a percentage of the uh the revenue and the revenue you were getting funded your vacations and now because the vacations are your content those are tax write-offs too now you may as well just go live it up frugal graham turns into yacht graham i don't know no but the i was watching a tiny house video earlier today that seemed to me so fun there was a tiny house that was built uh on wheels so you could you could attach it to a trailer and it's like 24 feet long eight feet wide this thing looked incredible i think it'd be so fun maybe we get two of them so jack and alex could be in the trailer behind the main one or you know what alex could be driving then then i don't i don't know where you you you could baby passenger seats then we got you know the cat and the dog and macy and i and the back trailer and we could be guys where do you want to go today let's go to uh salt lake city let's go let's go to vegas today let's go let's drive to florida we could do we could do disney world let's go something like that i think would be that would be so much fun what why do you want to drive five you know four days or whatever to florida when you could just rent a jet no because i think the driving is going away it's it's visiting all the places in between and i think the adventure on the way there is is part of the excitement uh even if you do like drive something subscriber stops right but even the drive from like la to las vegas along the way i mean if you drive it all the way fine but on along the way there are a whole bunch there's like a ghost town that's there um a lot of nothing too oh bowling yeah exactly we kevin and i went to a bowling spot uh on the way i think that was rancho cucamonga we did that yes but i just think on the drive a lot of fun things can happen on the drive that's true that's true you because uh danny d look at danny duncan man yeah that means the dream yeah right there yeah because he took uh his uh he did the road trip across across the country too i think i don't know he drove his tesla from florida to l.a or whatever and they would just stop in all these random places like oh it's that's yeah that's awesome i thought danny could be anywhere danny could be in in a room like you and somehow you would watch 20 minutes of him doing something he would find a way to make wherever he is a good time yeah that's true because think of it he never realized he never relies on something happening he is always the one who makes stuff happen it's all it's it's like his his world revolves around him and his personality and what he's doing in the moment so he could always come up with content because it's just as long as he's as long as he's breathing i mean he'll find a way to make it entertaining it's true i mean i uh i visited him in florida and i remember we were at this uh asian food uh a restaurant uh i don't know i had some fried rice or whatever i don't know why this detail matters anyway but he says um you know what we need to buy a used van like right now and it just starts calling to get used me as like wait why it's like we're going to crash it we're going to f it up that's like where did that idea ever come from did he put it in video or is this stuff that like he just wanted to do on his own uh you know he he's just he's done multiple videos since then of him crashing cars and putting cars in a tree and then they did fireworks and then they shot the fireworks into the tree that the two days after i left they had the fire department at is at this like you know six acre 10 acre or whatever a lot uh and and uh they i don't know they caught something on fire it's just like there literally is always something going on so that's what i want to do i'm not necessarily putting cars in trees but just maybe just a fun light-hearted family-friendly just just a good old vlog there's a longevity risk because i mean think about it you know if uh you know a lot of the vlog channels they they come and go with with the subscribers but news you know jim cramer's still around i yes i i would agree with that but i think a lot of it's too new to really know how how much longevity there is i think the vlog channels where they're doing all the work themselves or they're filming every day that's right that's where i see the worry like roman atwood was doing a video i think it was like like five videos a week or something like that did that for like three four years so i'm sure that could be taxing but and or the casey neistat doing it all himself but i think the occasional vlog maybe once a week i think he'd keep that going for longer and we'll see just how much longevity there is even with news on youtube who's to say there's not going to be uh you know a younger meet kevin out there who does a little more funny who's a little you know as a as a bigger beard who has a higher quality camera who knows who knows congratulations kevin let's let's make this video have more views in the first one let's do that more views than the first time well um yeah uh okay uh how do we do that let's see the um i did in in uh march uh at least double uh the highest month revenue i had before so maybe there's there's a thumbnail for you all right what is what is it two million dollars it's over it was over two holy crap wow where is it coming from gosh like if you were to divide it it's it's if literally it's a combination of everything because uh when when there's so much so much drama in the markets everything does better because it's like even like life insurance which i saw you guys were doing life insurance like even the life insurance what seriously like it's everything wow but uh no this month will be like the opposite you know this month they'll all negative two yeah yeah but no um 600 something like that which is amazing but yeah but you're not even but you're not even counting stocks like if you go income plus stocks god that's their title man three million dollars a month two million two two something two million two listen you can't put two point two it's gotta be one two three four it's gotta be an even number so and then the next time hopefully we can grow it again oh my gosh let's get it to four oh gosh like i think this last year was an anomaly though so i realized that i mean uh this last year was insane um you know there are a few months uh that have been insane but i i don't know how sustainable well i think high numbers like that aren't sustainable uh but i do think numbers around like this month are more sustainable uh which is kind of like from the cnbc millennial money breakdown congrats congratulations thanks before we end we you got to tell everyone to destroy the like button subscribe do the usual folks i have got to ask you one thing we've been together for almost two hours here maybe even a little bit over two hours do me a favor a little button down there destroy that like button share the video like the video subscribe get it done do it now so with that said you guys thank you so much for watching i really appreciate it kevin thank you so much for coming on today this has been so much fun i love these things i'll link to your information down below in the description where you can also get a free stock from public worth all the way up to fifty dollars you may as well get it all of our instagrams are down below in the description also make sure to subscribe to the stef family we post one video a week it's one really good video it's so good that we we basically pack the best content in a given week in 12 minutes or less it's insane so subscribe to that channel down below you'll be one of the first subscribers to that channel so enjoy thank you guys so much for watching and until next time for it 51st ever so welcome that you're coffee hour my name is kevin so far the podcast is made blank sweet all right here we go