Amit: All right, we got a lot to talk about. Thank you everybody for being here for another week of Tech Bros. I think we missed last week because Oh, yeah. It was Dvali. So, I couldn't make it last week, but uh we are back and I think let's get started off with raw thoughts on the market. We got SoFi earnings tomorrow. We'll talk about that. Got some hood updates, some Nvidia stuff, but I mean Roy, we'll start with you. Uh S&P alltime highs. How are you feeling?

Roy: It is shocking to me and I pointed this out with uh with you earlier that we are at all-time highs in the fear and greed index. I'll I'll throw this up here or I'll I'll ask you to throw it up is fear. Now, this can move and probably will move to neutral and then to greed, you know, if if we continue moving up. But in an uptrend, it's not too uncommon to see, you know, be an extreme fear of fear for a little while. But at all-time highs, it's a little bit surprising.

Roy: Of course, there's there's real catalysts. Uh tariff stuff is a big thing. I do feel like that the market might be ignoring or overlooking some potential near-term pain uh with specifically with the government shutdown, SNAP benefits, student loans, and that sort of thing, too. But, uh I mean, it's a fun day. A lot of these companies too uh that are getting uh the bids are massive companies posting good earnings today. This week uh Tanner pointed out Seth Gild also did on Robbo 2 that 40 something% of companies in the S&P 500 uh are reporting earnings this week. So did I get that right Tanner?

Tanner: It might be that high. I was just saying that it was 24% in just the five companies. I didn't even I didn't even uh look at all the other companies that are reporting. It probably is 40%.

Roy: Yeah. Let me let me find that. Yeah, 42% of S&P companies by market cap reporting earnings. So, it's by market cap, not by number of companies. So, it's it's I I miss that part.

Tanner: But yeah, this this ultimately there will always be, you know, the roller coaster still in effect, but this week really is what determines how good earnings actually are with 42% S&P 500. If the um narrative is like, hey, they're crushing it. The AI is real, which we we'll hear that again, of course. Uh companies are growing. no real concerns with consumers, company here and there will try to blame that. But when you're in isolation, the market just ignores you and says, "You're terrible. We're gonna actually believe these companies that are killing it." And I expect that's probably what we're going to get. So, uh, we may continue on on a uptrend and rally all the way through Santa Claus time.

Amit: Um, so before you speak, Tanner, I'm going to give my quick thoughts on this. I think there's three elements of what's going on right now. Number one, you have rate cuts coming up on Wednesday. Number two, you have earnings on Wednesday, Microsoft, Metagoo, then Apple, and Amazon on Thursday. I think all those companies hopefully crush and continue the trend to show that we should be trading at the multiples we're trading at. Um, so those are two really important things.

Amit: And then number three, which I think is something that it really is important to to to to double down on, and I'm curious on your thoughts on this as well, guys. We had a 3% draw down. And that 3% draw down was the first draw down in five months. I think all of us can say we needed it. And maybe it was because of the Trump China tweets or whatever it was, crypto leverage, but it we needed it like August and September, we we avoided barely even a 1% draw down. And so you needed to get a little bit of froth out of the system.

Amit: A lot of the names that were running to 30 40 billion dollar market caps that are not delivering any earnings growth, any even revenue, forget earnings. They ended up getting hit. Now, they didn't get hit to the point where they're going to zero. And I don't think they're going to zero, but they did get hit. I mean, for goodness sakes, we had a meme stock ETF come back before we had this 3% draw down over the past couple of weeks. Last time that happened was literally the top in 2021.

Amit: And I think that along with the fact that the S&P is back to all-time highs in a pretty steady way, you've got rate cuts coming. You've got earnings growth hopefully from big tech coming this week and you've got some of that froth shaken out. I think this is one of the more healthier markets we've been in in all of 2025. And I'm curious on your thoughts on that as well.

Tanner: No, I I think you summarized that well. I mean, I think I feel very confident in the position that we're in. Um, I like the trade deals that are coming through. I don't think that anyone uh any of the large market movers are here to blow up, you know, the the the S&P 500 right now. So, everyone wants to get deals done. They want good economies. you know, there there's no uh well, I mean, there's always a war brewing for sure, but there's no real um looming events that I think is going to draw anything down globally right now.

Tanner: Um obviously things can change very quickly, but rate cuts are going to help. the continued rate cuts, even talk about an additional rate cut in 2026 is something for a lot of um loan book purchasers especially, we'll talk about SoFi, but but that's very exciting going forward that this is not just going to be, you know, one rate cut that we're talking about. This is potentially three more two this year, but but continuing into 2026. That's a very exciting uh ordeal that's happening.

Amit: And and and then you got the Chinese that are deescalating with the US, right?

Roy: Yeah. No, I I mean I agree with you guys. Like there's these are real catalysts. Uh the the companies that are healthy and growing continue to do well. There are, you know, there's cracks and you can always point and and if you look hard enough, you can find bearish things. Bears always manage to do that. You Amazon layoffs is not happy news for anybody that's affected, but I mean the reality is they've done similar layoffs over the last uh two or this will be the third time in the last four years.

Roy: So, um, but, uh, yeah, I think that the earning season, uh, is going to be the same as what we've seen the last few quarters with everything's healthy. We already saw banks report. Consumers seem like they're in a healthy place except with some very isolated uh, maybe there's, you know, Jamie Diamond said there's there might be when you see one cockroach that there's probably more, but I don't know how many more we see at least this earnings. I think that might be something that waits until next year uh, after the Christmas season and holiday spend. Um but yeah,

Tanner: And my understanding is the two um you know, regional banks that ended up seeing problems also were both tied to the same uh company that was doing fraudulent actions. I don't remember the name of the the business. Maybe a MIT will, but it might be an isolated issue. It might not be uh a cockroach situation at all.

Roy: Go ahead, Roy. I was going to say Diamond Diamond is pretty bearish in a lot of his comments. I think banker CEOs maybe are just by nature, but

Tanner: Yeah, they they have to be cautious, right? It's it's risk aversion.

Amit: Yeah, I I I don't remember the exact name of the companies, but I I do agree that look, I think it's isolated. I mean, every other regional that reported after that um Zion and Western Alliance report, which by the way, when Zion that wasn't even Zion's earnings, that was just like a preliminary thing they had to put out there. their earnings crushed and their provision for credit losses, which is what determines kind of how healthy the consumer is, how healthy your loans are. I mean, all these regionals came in better than expected by like almost 100 to $150 million.

Amit: So, the private credit fears don't seem to be that aggressive, and maybe they will be, but we don't have that much evidence yet to say that they're super aggressive. Uh, the China stuff seems like it's starting to get relaxed. A lot of froth, although it's still in the market, has been taken out, which I think people are feeling a bit more uh healthy about. earnings growth is here and then you've got rate cuts. I mean, I don't see I agree with Roy. There's definitely things to be bearish about like the labor market and potential cracks in the economy with with the lower end of the consumer. But on a broader macro trend, I don't see the massive bare case. And then you have seven half trillion dollars on the sidelines, which inevitably is going to want to find a home.

Amit: Okay. So, before we get into SoFi, let's uh cover a couple of these quick topics. So, do do you guys know what a closed end fund is?

Roy: No.

Tanner: Yes.

Amit: Okay. Tanner, please educate. I have no idea. What What is this? And is this bullish for Robin and now listening for

Tanner: uh Well, I I this is I just I'm just seeing this news. So, what is this? You can now invest in nearly 200 US listed close-end funds on dude.

Amit: I know SoFi earnings are tomorrow, but are you are you just not keeping up with any of the Robin an Hood update? Like, are you bad? Are you the freaking title of your live stream is like was the night before sofi like it's freaking Christmas. You're not caring about Robin Hood at all. You just like

Tanner: Vlad tweeted it. Vlad tweeted it. Have that on notifications. Pop it up anytime he says something. Come on.

Amit: This guy's fake, bro.

Tanner: I I didn't see it. I saw that. Did you guys see that they uh put out futures for UK customers?

Amit: Okay. I didn't see that

Tanner: Yeah. Yeah. Yeah. Yeah. Yeah. That's what I mean.

Amit: Get off X and actually go to their press releases one time. Uh, okay. So, um, I didn't see that. What it sounds, I don't know what the the close-end funds are, but essentially it just means that there's a certain amount of outstanding shares. That that's all that that means that they're not recreating new shares.

Tanner: Um, so essentially that that for every, you know, share that's outstanding, there needs to be a buyer of it. So, if you end up putting money into that fund, new buyers drive the price up rather than them creating new um shares in order to keep the price stable, like a stable coin, for example.

Amit: I'm not going to lie, it's not because of your explanation, but I still have no clue what a clos

Tanner: my explanation sucks, but it just it just means that there's a certain amount like closing fund just means that there's a certain amount of outstanding shares and that

Amit: But are these like mutual funds or like why? They can be of them coming on Robinet like what's

Tanner: at least the way that I know of it a closen fund can be a mutual fund but they're not mutually exclusive there could be multiple different versions of what a close-end fund is but um you know that can be yeah Robin Hood Ventures that could be private equity that could be like there's a ton of closend funds it just means that there's a certain amount that they're not going to issue new shares there's only a certain amount of shares that's in that's the closed

Amit: Okay. Well, as Curtis said, they won't dilute. It's just a certain amount of shares.

Roy: So, this is at least I I have like a very very limited understanding of this. So, um releasing 400 of these, this isn't like a oh man, this is amaz It's another nice ad. Uh is that how you would see it, Tanner, or

Tanner: Well, it I don't know what the funds are. So, so to me this sounds like some version of they are adding mutual funds, but in Canada we would say that you're adding 400 mutual funds, but to me this sounds like a difference of of the way, you know, US companies are wording it versus what I know, which is can, you know, we wouldn't say, hey, these are closed end funds for purchase. That's just like the the characteristic of a certain fund. So to me, I don't even really know.

Amit: It's not a noun. It's almost like an adjective to an extent of what the fund

Tanner: Yeah. Like like the fund can be a closed end fund, right?

Roy: Yeah. Here's that other announcement by the way. Robin Hood launches futures. It's kind of interesting that we haven't seen ISIS and SIPs yet unless I've missed those. Um I thought that they were supposed to come out this year. There's still some time left, but yeah.

Amit: Yeah. I I don't think they have those yet. But look, futures trading is good. I I I do think UK customers want a lot of other things right now besides futures trading but it is good to uh to see that out there. Uh someone says so here are you betting that the underlying assets of the fund but on how the portfolio is being managed? That's my understanding of it as well. Like to me it's just mutual funds that are managed in a particular way like like Vanguard, Fidelity, they have a lot of the I a lot of people don't leave those platforms to Robin Hood because you can't transfer your your funds uh because they're proprietary to those brokerages.

Tanner: Closing funds are almost like they're almost non-existent. I mean for the most part all the money is in open-end funds. If you want to go out and buy an index fund, for example, which is an open-end fund, you buy at the, you know, QQQ or whatever, and then they take your money and go and buy those funds. Okay? They they they buy the underlying assets. But a closedend fund is like that fund will go up because there's more buying pressure than there is selling pressure. So, they're actually really not common.

Amit: Yeah, that's fair. uh it's another asset to the platform but it's not the biggest deal in the world. So you had that you had Robin Hood uh UK futures for uh for customers which was nice and then the the other final update is uh look banking is not officially out yet but people are getting a preview of it. Some of you guys in the chat might have gotten a preview of banking and uh from the pictures that we've seen they're giving you a basically 3.75% APY if you set up direct deposit. So I guess the broader question here, Roy, we'll start with you, is do we think 2026, the big product outside of Cortex is going to be banking?

Roy: Probably not. Um, that's still probably going to be predictions market. Banking is massive, too. Um, of course, their continued international roll out of not just uh their trading suite, but also predictions market potentially, that's going to be significant. And knowing Robin Hood, there's probably stuff that doesn't even exist yet that's going to be massive, too. It's just a ridiculous company. So, um, but you know, I I would rank probably predictions market as a number one there um for continued growth at least into as they continue to expand. That's massive.

Tanner: Yes, it's going to be a game changer. Um, I I just think the amount of new products and direct deposit and cross-ell and all the like the magical benefits that we saw from SoFi could be replicated at Robin Hood. And then on top of that, I mean, they could go international with this and partner with those local banks there to custody the the deposits. I just think banking is is a big deal. you know what what's a bigger well actually that's not a great comparison but there is a lot of very big banking businesses versus brokerage businesses having both in one is a very good you know combination

Roy: do you think it's a bigger deal uh next year as far as uh being accreative to revenue um than predictions market or are you just saying long-term like it's a significant deal

Tanner: oh sorry maybe I didn't hear the yeah no prediction markets might take it next year just because it already has significant demand and it's going to blow up. But uh over time, I think it'll also be hard to see the the quality like what banking means because I don't think it's just the revenue. I think it's

Roy: like what does the stickiness of a user that's coming back to check their product every day? Like how much more do they invest? How much more do they use their credit card? How much more do they use everything else if they bank there and check their app every day? like so it'll be hard to determine how much banking is putting on the business but I think it's very important.

Roy: Yeah, I agree. Um, okay, last topic on Robin Hood is uh prediction markets. Do you feel any issue with prediction markets given the NBA scandal and the betting controversy and you know ESPN is advertising with FanDuel but then they're having to talk about this whole gambling controversy. Do you think it's any issue for the broader health of prediction markets or cost is raising at five billion polyark raising at 12 billion no one cares everyone's just ready to continue this betting future that we're in.

Roy: Yeah, I I think that there's um some regulatory uh regulator uh clarification that's needed. The nice thing is uh most aspects of the Trump administration, I don't know about this, I can't remember the um four-letter acronym that that um they have for um for the betting uh side of things, but uh they actually instead of uh enforcing and just slapping everybody with fines, they're actually doing a decent job, especially with crypto. And this is related to crypto of saying okay these are the regulations and guidelines and of course bringing a lot of market leaders to the table.

Roy: Koshi uh was a really smart partnership with Robin Hood uh and of course maybe in hindsight they should have bought him out or whatever but uh given the connection of course to the Trump administration on the board of Kowi uh and some early success as it relates to some of those state uhwide uh specific lawsuits. It's hard for me to see the predictions markets not doing well. Fact, of course, FanDuels and Draftkings have now shifted away from saying, "Hey, predictions markets are a joke to we're not going to do them to uh we're going to die. You have to buy a competitor to compete."

Roy: Yeah. So, uh I I mean, and Robin Hood, like the nice thing about Robin Hood is uh not going to rehash the argument as far as like separate apps and stuff, but the money is already there and it makes it so much easier. There's so much less friction when you're like money's there or margin. If you're using margin, be careful with margin, guys. But, you know, it's there. It's easy to use. Uh, and um, so yeah, this has blown up massively and it's just here in the United States.

Roy: There will be more competition anytime that there's a massive gold rush like this. There's a lot more competitors coming in, but it it is hard to carve up market share, especially if your money is not already on the platform. Uh, so it's it's a layup I think for Robin Hood.

Tanner: Tanner, any thoughts on DraftKings having to basically acknowledge that they can't succeed without these prediction markets? Yeah, I think it's going to be a massive I mean the stock has already taken a massive blow, but I just don't know the reason for using their traditional like like the uh I I don't know the name of how like the odds based uh betting. The spreads are extremely weird, non-transparent. You can't exit before um they finish without some weird like, you know, prompt to say, "Hey, do you want to take this and go?" I the prediction markets just work so much better. It's way cheaper. It's live in real time.

Amit: There's instant liquidity.

Tanner: Instant liquidity. And and there's zero limit to what this could be put on. I I I think prediction markets are going to be massively popular. Like I think the way that you know people talk about stable coins like, oh, this market's going to 25x over the next few years. I think prediction markets are going to 25x over the next few years. like I think we're seeing the early early days of what prediction markets mean. So, um I'm happy that that Robin Hood is getting in early.

Roy: I I read a a a really fascinating article. I I'll have to dig that up and uh send back to you guys, but u one aspect that I also think tends to mean the predictions market's here to stay. Well, I guess two really is you can see that it's being used as the source of truth a lot more so than polls when it relates to elections. And I I think that that is, you know, there will be times when it gets when it things are not correct, but the wisdom of the crowd has proven quite effective in that.

Roy: And the other is we're in the age of AI. And this this piece that I'd read, um I I think it was Sean Taylor. Anyway, regardless, he said, you know, in the age of AI, it's harder to determine what's actually real, what's accurate, what's not just AI slop that's reading AI slop and giving you answers that are not true. And so this as a predictions market has even more value. Vlad was saying this earlier by the way just because you can look at the wisdom of the crowd. It's not AIS or algorithms at least yet here betting or doing much of that. And so this is uh a valuable source of truth uh for a lot of people. Um I actually look at that oftentimes if I if I want to know how something might turn out, I'm tending to look at a predictions market an awful lot. So I actually like having that feature right there.

Amit: Okay. Before we move on to SoFi, I do want to give a shout out to our boy Nate, who is an OG hoodie. He just sent me this today. This was from the Summit.

Amit: It's so awesome, bro. It was It was a It was a birthday gift, but also it's uh it was a present from him. I actually got to meet him in New York the other day because he came through.

Amit: So, this is super cool. Super super cool. Thank you to Nate for sending this. I will be hanging it up in the back at some point. So, there you go. By the way, Nate, okay, this is actually a good segue going into SoFi. So, I I had dinner with Nate a week ago and uh he's like hood forever. Like, he is bold up hood. So, I said, "Well, what do you think about SoFi?"

Amit: He was just like, "Dude, they are not going to even come close to doing what Robin like he is so bearish on." So, and I I tried to reason. I really But they're growing. He's like, "But what are they doing? It's a bank. Like, what are they like why are people like what's going on here?" like they have no shot. So, I think that's a good segue into SoFi tomorrow because look, I bought in. I'm excited for the earnings. I do think there's a shot for 35 stocks at 31 overnight. I think we'll start off with you, Tanner. Why do you think there's a chance this company could really make a move tomorrow on earnings?

Tanner: I just think that there's not a segment of their business that's not primed to do well. If you go through the list, checking and savings, brokerage, credit cards, uh personal loans, student loans, home loans, the tech platform just signed two huge deals. um what part of their business is not doing well and and it's not just SoFi inherent, it's like the industries are doing well. You know, personal loan lenders, uh home loan lenders, brokerages, credit card businesses, they're all doing well. So in every single one of them, um so I don't think they're I'm not

Amit: expect Why Why is none of that priced in, I guess, is the broader question.

Tanner: Well, I think that there's just an inherent um, you know, fear of SoFi because it's a cyclical business. But if they end up putting up the growth that some some Wall Street analysts are expecting, they're going to put up a 40% year-over-year growth rate at the highest margin that they've ever seen. That is crazy. Like 40% is not easy to put up, right? And that's coming off of the back of many quarters that have Oh, and by the way, on a really good comp last Q3 was really good. That was the LA that was the first quarter that we saw the loan platform business. So, it's 40% year-over-year growth, highest margin on a good comp. And um it's accelerating their growth rate

Tanner: like Palunteer, not not not at the same degree. Okay, this is this is baby baby. But if you start compounding growth rates more and more faster and faster, you let um Wall Street and retail investors sort of you let their imaginations run wild about what they can do now that they actually have some tailwinds. So, I think people are getting excited about Q4 because now they're putting up even higher uh downloads that, you know, could lead to potentially even a better quarter than Q3 in Q4. So, people are, you know, pulling a little bit of that excitement into next year if we continue to see rate cuts. It just looks like, you know, going forward that they're going to continuously have quite a good time. I mean, Robin Hood very similar, right? Like, if you're not expecting a slowdown, you're going to give them a premium for just continuous execution. They've never not triple beat that. That's got to be worth something.

Roy: Hasn't been in the past, but but yeah, it's this earnings is going to be special. Um we know I mean like eventually maybe they won't triple B. This isn't going to be that earnings. Uh we look at analyst expectations, they keep raising them, they're still too low. Last quarter, like Tanner said, it was against a weak comp. This time it's not. and we're right around 40% as far as our predictions uh for revenue growth.

Roy: It's tough for the it's the market didn't ignore it last quarter. It ran up and of course they did that dilution immediately right after which kind of killed the momentum but it was not ignoring SoFi earnings which was a big shift. This one basically doing what they did last quarter again against a strong comp is highly meaningful. What is it pricing? Now rate cuts are probably priced in or at least a good number of them. uh banks have shifted from a banking charter banking license being an actual drag on a business or at least it was perceived that way for SoFi that they were saying is less valuable because they obtained a banking license which was the dumbest argument ever but bears made that

Roy: I'm a little bit more bearish on the tech platform than Tanner uh but uh what's really did not price in I think as a loan platform business. We're entering an environment where there continue to have rate cut after rate cut as well. Um demand is very high for these products and other than with some very uh specific types of lending that SoFi doesn't even do uh delinquencies seem fine. The consumer seems healthy and now you're in an environment where like even Mr. Beast applied for a banking license. like this is you're you're seeing a lot of companies that said that they would never want a banking license apply.

Roy: So you're as far as regulation, you've shifted all all the way from seeing it as a liability to an excellent uh asset. Uh rate cuts are coming in and they only really have the personal loans in the platform business at any point and I expect that they will in the future. They may even this earnings as well spin off additional products as there's demand on the loan platform business. um there is a lot of growth that they can do and that the nice thing is his growth that's it's at a uh that's not capped as long as there's demand there like they're not capital constrained at all. So very well positioned over the next couple of years um it's at an all-time high it doesn't feel crazy at all.

Amit: Okay, real real quick question for you guys. Out of these five companies, Microsoft, Meta, Google, Amazon, Apple, 24hour or or sorry, the close of the day. Oh, no. I guess they report after close. Um but next close let let's say the the the you know day after who is having the best stock performance of those companies

Roy: I'll say Meta

Tanner: Meta has uh consolidated for a good long while. I've not paid attention to it over the last two weeks, so maybe it's shifted a lot. But yeah, um they've been building a lot. Um they're also positioned very well to benefit from the shifts that's happening in advertising. Um they begin to monetize WhatsApp as well. Um I wouldn't be surprised if they have a nice little pop in earnings. Uh Google probably would be second for me, but

Amit: I think it's Google, but I'm going with Amazon because they've not made a move at all this year. I am feeling uneasy though because if AWS doesn't do well, Amazon's going to get hit. There's just no way. It'll be a buy the dip, but everyone's got to be ready to see low 200s again if AWS doesn't do well. So, I think it's Amazon or Google.

Roy: Could be Apple, too, which is wild. But, uh, that refreshes.

Tanner: I was thinking Apple potentially. Um, I'm going to say Amazon and then I was going to say Apple, but now you've changed my mind to Meta.

Roy: So, I'm going to say Amazon.

Amit: You change your mind in 30 seconds, bro. Did you have any conviction at all on this or

Tanner: because because of the Well, no. I kept my I kept my conviction. My conviction is Amazon.

Amit: But you said you changed your mind on Meta.

Tanner: No, no, I changed from second place from Apple to Meta. Um, no, I'm Amazon. I'm still Amazon holding Amazon. But Meta could do well because it hasn't moved much. I think there's a lot of um a lot of good things from advertiser names and

Amit: but Meta has moved this year. I mean it's made a freaking 25% move.

Tanner: Yeah. Yeah. Yeah. But but I mean I mean quarterto quarter here.

Amit: Oh yeah. That's it. It was at 800 on Q2 last time. So it's definitely

Roy: Right. Right. The only thing is is that they could also be the worst performing one as well because the the the the the stock is very

Tanner: Mark Zuckerberg likes to spend money and and if they think that he's spending on the wrong thing, whether that's Horizon or something like this that's not getting a return on invested capital, they could punish the stock. They've been punished before.

Amit: I hope they do because I've been really waiting to buy a meta dip and I know 690 was like the opport but like I don't know it just wasn't the most appeal. I want them to punish punish it and I don't know if they punished it enough to take it into the low 600s. I think that would be too aggressive. But look there's been a bit of internal chaos in Meta. I mean the biggest thing from all these researchers that they've hired which rumors are you know four or five billion dollars they spent is a Sora competitor that no one uses. like really working out at all.

Roy: the overhiring of the top names.

Amit: I think they have no choice because the only relevance in advertising or in AI that Meta has has has shown as advertising. Llama, people say it's not a failure, but no one uses llama. And then number two is the glasses are just not mainstream. And whatever AI version that can enhance the glasses, they had a chance to show it off. We watched the stream. It was horrendous. So, like where is Meta's AI moat coming from? It's advertising, which is great. Advertising is a great business, but I think they're struggling to figure out like where is our role in this artificial super intelligence world? And I don't think they have it yet.

Amit: All right. So look, big tech earnings starts this week. All three of us will be covering it um on our on our channels and Twitter. So if you're following us, you'll be updated on everything. I mean, this is going to be a wild week. Wednesday, we got JPAL. Then we have big tech. Then Thursday, we have Amazon and Apple. And uh tomorrow we have GTC. So you got Nvidia potentially sharing some new ideas and products. I mean this is and then as Tanner said, 40% of the S&P 500 reporting this week. So this is the week that determines what the next two months look like and hopefully we get some good results going into the next couple days.

Roy: I love earning season. I hope it never goes to six months.

Amit: Yeah, dude. It's going to suck.

Roy: Canada's talking about it too now. They're like really pushing that. Speaking of Canada,

Amit: Yeah. All right. Good stuff. Thank you everybody for being here. Um, we'll be back next Monday. We got a lot of earnings. We're going to see how these earnings can play out and hopefully we get some good results. We got rate cuts coming up and yeah, I mean, look, this is a very, very important time in the markets as long as we can get some good results. I mean, the the the health of the S&P for the rest of the year basically depends on Wednesday and Thursday. I mean, everything else really doesn't matter. And then you have Nvidia in a couple weeks, but Wednesday, Thursday are big days. We're probably going to get a rate cut. And if we can get that going in the right direction, then hopefully have a really fun end of year.

Tanner: But happy birthday, brother. Honestly, um you know, you're a big inspiration to me. I'm older than you, so I'm allowed to say this. I'm proud of you. Um, you know, I I feel like what you've done has been awesome and I all of us here are following your journey and and you know, you're a trailblazer. So, uh just really appreciate what you do and um

Amit: I appreciate you guys. Means a lot. There's Royy's YouTube. You can follow him there for my channel. There's Tanner's YouTube. Uh, these guys will be live at like 7. Me and Steve are going to be live at like 7:30. So, for those that want the SoFi analysis immediately, 6:55, 7 a.m. Eastern, make sure to check out their channels and got a big day tomorrow. SoFi, UNH, and PayPal. So, we'll keep it covering.

Roy: Big day.

Amit: All right. Thank everybody. Appreciate it. We'll see you guys tomorrow for SoFi earnings and the market open. Bye everybody.