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Rich Habits Podcast
A $1.5 TRILLION Bet on America, Bull Market Anniversary, & Sports Media Rights
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You're about to make a trade.
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Which u do you listen to? Is it get optioning those options or.
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Let'S do a little research? Learn more@finra.org TradeSmart this episode is brought.
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Public.com presents the rich Habits Radar A new Friday episode of the Rich Habits Podcast where every Friday morning we're coming at you with the biggest headlines impacting you and your money. My name is Austin Hankwitz. I'm joined by my co host Robert Croak and three things sitting at the top of our Rich Habits radar this week include the S&P 500 bull market officially turning three years old, Jamie Dimon announcing a $1.5 trillion investment with the hopes of rebuilding America, and Apple's new tabletop smart home device rumors swirling around. And be sure to stick around till the end where we Talk about Netflix's $10 billion bet on live sports. So Robert, let's dig into our first story.
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A
That's right, the bull market turns three as we enter the fourth year of this stock market rally. The S&P 500 bull market just turned three years old and up a whopping 89% since October of 2022, adding nearly $28 trillion in market value. With that being said, the rally has been incredibly narrow. Nvidia is up almost 1,500% in that time, which, while the equal weight S&P 500 is underperforming the market cap weighted S&P 500 by the worst margin since the 1990s.
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B
Markets usually broaden as the Fed cuts interest rates, which is something that we're experiencing right now. But the rally remains pretty concentrated into the Magnificent seven, right? Think Nvidia, Meta, Microsoft, Amazon, Apple, Google and Tesla. But I think this concentration, Robert, is for good reason. The Mag 7's profits are up 64% since the bull market started here, comp to only 16% for the other S&P 493 as you will. And a lot of this profit expansion has been catalyzed and even accelerated by AI. Now history shows us since 1950, six of the last seven bull markets that have reached their fourth year were higher A year later, I'm going to say that again. Since 1956, of the last seven bull markets that have reached the fourth year, which is what we are doing right now, we're in our fourth year of the bull market, they were higher a an average return of 14.6%. And Robert, according to Fidelity, the average bull market produces roughly 90% gains over the course of the first 30 months. Right now we're at the 36 month time horizon with about 80, 90% gains. So like we're pretty par for the course. I would say.
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Here's why that matters for you and your money. History is on our side, but it's also just as important to be diversified. A lot of people are comparing the Mag 7 to the Nifty 50 back in the 60s and 70s with PE ratios north of 50 to 90x. Now there's a ton of reasoning as to why that's not what we're experiencing today. But regardless, we're big believers in diversification, having some stability in T bills, bonds or precious metals and of course, long term wealth building assets like real estate.
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B
Yeah, I'm fingers crossed this isn't a nifty 52.0 because a lot of those nifty 50 names experienced a 50, 60, 70, 80% pullback when the markets eventually corrected. I think it was in like the mid-70s, I believe. But again, we can get into the details as to why. I don't think that's happening right now. But it's cool to know that we've got history on our side. We are par for the course when it comes to this bull market and that a lot of bull markets, I think the stat is after they reach their fourth year, they tend to go on to year five, six and seven. So fingers crossed we keep rocking and rolling up and to the right now. Robert, let's jump into our next story. Jamie Dimon's $1.5 trillion resiliency plan to rebuild America. So the JP Morgan CEO Jamie Dimon just launched a new massive initiative, a $1.5 trillion security and resiliency plan focused on strengthening America's defense, energy, AI and advanced manufacturing industries. The bank plans to deploy 10 billion in direct investments while also financing project seven key sectors including quantum computing, critical metals and robotics.
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A
Yeah, Dimon even put out a public call for talent saying if you think you're the right person, just give us a call. I think that was just crazy to read that. J.P. morgan plans to build a top tier team of bankers and specialists to lead this charge. Blending traditional Finance with venture style investments. It's obvious now that Wall street wants to play a bigger role and America's economic and technological future, not just the government.
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B
Well, it seems to me, Robert, that Trump has been in his ear a little bit, whispering, kind of like he's done with Oracle. OpenAI meta. Remember watching that dinner, it was so funny. He goes to Mark Zuckerberg and says, mark, how much are you investing in America? And Mark's like, I didn't think I was going to announce this right now. What are you, like a couple hundred billion? You know, it's just like, how much are you investing in America? What about you? What do you have to offer me? It's just, I feel like Jamie Dimon's, you know, doing this maybe for headlines and you know, to be in good favor with Trump. But who knows, maybe it'll come true. Maybe a lot of jobs will come from it. I hope that's the case. I want us to all, you know, benefit. So Robert, why don't you share why this matters for our listeners and their money.
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It signals that the reshoring trend and an American first industrial revival is a real investable theme for investors. That means watching plays in defense like LMT manufacturing like Cat and energy like XLE. Generally speaking, keep an eye on the RSHO and y' all y a l l ETFs as well, all focused on American reshoring. And RHS O isn't exactly exposed to these crazy high flying AI names like the Mag 7.
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B
Yeah, I think that's a great call out. Right? So like if you want to invest toward a theme of like reshoring and like manufacturing and you know, this trillion plus dollars gets reinvested into America. It's cool to be, you know, just talk about diversification. It's cool to be diversified away from some of this AI stuff, right? And it seems like RSHO is a great way to do that. So let's round off our top three here with Apple's new tabletop robot smart home device. So Apple's reportedly developing an all new tabletop smart home device designated to act as a central hub for a connected home, sitting somewhere between an iPad, a home pod and maybe like an Amazon Echo show.
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A
According to multiple leaks from Bloomberg, Mac Rumors and the Verge, this device will feature a 7 inch display mounted on some sort of speaker base, allowing it to serve as a voice controlled Smart display for FaceTime calls, media playback and home kit control. Interesting. We'll have to see how that plays out. And it's also expected to include a camera with facial recognition, letting it identify different household members and personalize the interface apps and widgets to displayed based on who walks up to it. Could be really cool. Maybe it can fetch me a beer. I'm not sure. We'll have to see when it comes out.
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Well, it's also. Do you want something like that always in your home looking at you? Who knows? Manufacturing regardless is expected to be handled in Vietnam in partnership with BYD. And Apple's apparently targeting spring 2026 for a launch window. Maybe this comes sooner than we think. Price point would be between 250, $350. Positioning right up against the Amazon and Google of splays. But with Apple's design and ecosystem. Now here's a fun fact for you, Robert. The Google Nest Hub business segment of Google does about $4 billion a year in revenue. So that's just selling $4 billion a year worth of devices. Imagine how many Apple could begin to sell to their users. So walk us through what this could mean for us, our money and specifically Apple investors.
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Yeah, I mean Apple entering the Home Hub smart display market should not be viewed as a low margin hardware experiment like Go Google's Nest Hub or Amazon's Echo show. Apple's strategy historically turns new hardware categories into high margin recurring revenue ecosystems. And this move signals the next expansion of Apple's services. Flywheel inside the home could be key, could do very well. We'll have to wait and see.
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B
We will have to wait and see and specifically see what Wall street thinks about it. Right, because Wall street, historically speaking, awards higher earnings multiples to recurring service revenue compared to hardware revenue. Right. Hardware companies specifically, they trade between 15 and 18 times profits where service revenue trades between 25 and 35 times profits. Apple isn't just releasing a smart display. If they're smart about it, which we know they are, they're going to layer the foundation of an operating system, they're going to do the subscriptions, they're going to get the, the software. I mean it's going to be a whole thing. So we'll see if this is a needle mover for Apple. Hopefully for Apple investors it is. I'm not really buying more Apple because of it, but I haven't sold any Apple stock. I'm just kind of riding the wave on that. If they play their cards right, it could mean higher average revenue per user, increasing the recurring revenue mix and justifying a higher multiple for investors. So we'll have to see that wraps up our top three. Robert, let's now Jump into our rapid fire segment. If you're new around here, this just means Robert and I bring three headlines that we personally saw. We wanted to come do a little show and tell action for you. Now Robert, I normally kick us off but I want you to jump in. You kick us off this time around.
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No problem. My first rapid fire today is all the headlines. We've talked about silver recently hitting all time highs. Now we're seeing a silver shortage. Silver is getting low on supply and causing massive price spikes and I have been telling everyone to DCA into silver for years and now we're seeing why. For industrial purposes alone it takes 2 ounces of silver for every EV car in around 25 grams per solar panel. Prices are up year to date by 55% and I don't see a slowdown. Some of my silver sky is falling. People believe we're going to see $100 an ounce silver in the next two, three years. I don't know if I believe that, but I do believe we'll see it keep moving in the right direction. My number two point today is a good one. Visa and MasterCard are rolling out deeper integrations with real time payment rails allowing instant money to move between banks, Venmo Cash app, PayPal and even payroll platforms. And this will bypass the ACH and wire routes that they would normally use. So this saves all of us a ton of money. I know we all hate the wire fees and they're building this API based payment infrastructure that fintechs can plug in instead of using the original bank originated wires. This is a recurring fee model shift Instead of a 25 to 35 wire fee once Visa, MasterCard plans that take cents of thousands of microtransactions across marketplaces long term this is a hundred billion dollar total addressable market unlock. B2B payments is 10x the volume of consumer card swipes, but historically untouched. And my last point today, number three is ray ban maker Luxottica reported better than expected third quarter revenue on Thursday boosted by booming sales of, you guessed it, smart glasses and wearable products which is steadily growing in North America. Its biggest market revenue in the quarter through September came in at 8.1 billion. The company's best quarterly performance exceeding forecasts.
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No Robert, I did not think about that with the smart glasses and the luxotic. I mean it makes a lot of sense, right? As more and more people want to buy these smart glasses, try them out, use them on the daily. It's kind of like buying a wearable device even you know like with the Apple watch and different types of wearables like whoop and things like that. You just kind of put a subscription on it. But that makes sense. Luxottica stock is up 47% this year. I would have not guessed that. That's so interesting. Good for them.
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And the crazy part for me was seeing that North America is their biggest market. I would have thought with these fancy wearables and all the stuff that's happening that North America would lag behind like Singapore and some of the cool countries out there where there's a lot of youth in the younger segment of the market. So I was surprised. But North America is their biggest market, so something for us to keep an eye on.
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Definitely. Well, let me wrap up with my rapid fire here. We got the first one, which is the Fed's quantitative tightening may slow down in the next few months. The Second one is TikTok shop crosses $25 billion in U.S. gross sales and then I'll be wrapping it up with Netflix's plan to spend $10 billion on live sports rights. So kicking things off from Tuesday's conversation with Jerome Powell, he was quoted saying, our long state plan is to stop balance sheet runoff when reserves are somewhat above the level we judge consistent with ample reserve conditions. All that to say is we've been quantitative tightening since 2022, but depending on what the economy is doing and where the stimulus needs to come from, we could stop quantitative tightening and start quantitative easing, which eases the financial conditions of the markets. He also talked, though, about economic outlook. Powell said inflation and employment seem to have roughly stalled since the rate setting FOMC meeting last week, although he repeated that the downside risk to employment appears to have arisen. The ongoing government shutdown is delaying the release of key economic data, though available evidence suggests that both layoffs and hiring remain low. And as you guys know from this week's Rich Habits newsletter, people are hitting the pause button on spending money because of this government shutdown. So keep an eye on that. That one. I think the QT may quickly flip to qe, if you guys know what I'm saying. The next thing on my rapid fire is TikTok Shop gross merchandise volume in the US crossing $25 billion, up from just 4 billion last year. A 6x growth average TikTok shop merchant acquisition cost is actually 70% lower than Instagram ads and meta ads because discovery is organic first versus having to pay for that discovery right now. Shopify merchants reported declines in Convers and AOV on their direct to consumer websites as Shoppers increasingly are checking out now on TikTok versus just clicking that link in bio. TikTok is rumored to be building a native Shopify migration tool that would let sellers sync up their inventory in minutes, effectively treating Shopify as the back end warehouse, not the storefront anymore. That could be interesting. The biggest winners with this, of course, are TikTok itself, creators that are on the platform, and the micro brands who are selling to those impulse buyers. Now the final thing want to touch on is Netflix's plan to spend $10 billion on live sports. So Netflix is reportedly planning to deploy 10 billion over the next couple years to acquire live sports rights, including the NBA streaming, Windows, ufc, secondary rights, Formula one, behind the scenes expansions, and tennis majors. For context, Disney spending 9 billion a year, Amazon spending between 2 and 3, and Apple is about to surpass 2 billion after landing the MLB and the MLS. Netflix has sort of hit the Satur with their subscribers. They're at about 285 million subscribers all over the world. And it seems to me like Wall Street's new key performance indicator that they care about is average revenue per user growth and time spent on the platform per user. So if you think about it, Robert, this makes a lot of sense. Live sports means people come to the actual platform for that specific sport. So that's your viewer, you now have some extra ad inventory and you can upsell some bundles. So, Robert. Right. So it seems now that Netflix wants to become cable bundle, not just a streaming app anymore. And it, it's kind of like ironic because Netflix, you know, I think pioneered the cut the cable type thing and now they're flipping back to it. Right? It kind of reminds me of when Obi Wan Kenobi yelled at Anakin Skywalker in Star Wars Episode 3 Revenge of the Sith, saying you were the chosen one. You were supposed to destroy the Sith, not join them. Right? So it's just like Netflix was supposed to be the one, but now they're doing it. It's. It's nuts, man.
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A
They all pivot where the money is. But I love the rapid fire section of these episodes because like your TikTok thing really resonates. Covering that blows my mind, but it really resonates for me because in one of your lines you talk about micro brands and smaller creators and I think back with like silly bands, right now we Crush it on TikTok shops and we had a micro creator I think last month make over $20,000 as an influencer going viral with silly bands on TikTok. Shocks 20gr for a person is just crazy. And, and it's so cool to see that revenue has grown so much because it gives people another way. We always talk about it as being a great side hustle and just seeing these numbers means it's working and people are getting away from traditional direct to consumer shopping. So I love seeing this though.
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B
I'm curious from your perspective as someone who's been using TikTok shop now and you're part of that 25 billion in gross merchandise volume, how much of your monthly revenue as a comes from TikTok shop versus just straight from the website?
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A
Yeah, that's a good call out. And you know, we have Amazon, we have Target, we have Fair, we have all these different platforms. But I would say overall, as part of Silly Band sales right now, as we film this episode, I would say TikTok shop is probably 60% of our revenue, which is crazy. But you have to look at it. You called it out out. It is so much less expensive to acquire a customer through TikTok shops because it's organic and we're not guessing, having to run tons and tons of digital ad strategies. So that is why TikTok is so great for smaller brands and even mid sized brands like us, because it just opens us up, especially with these smaller creators and this affiliate program that they have. It's just good. It's a win, win, I think for everyone.
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B
1. Wow. I did not, I did not realize that, but you're so right. So do you think that as a small business owner that people should be trying to sell or focus more on TikTok versus A, a target or you know, some other, you know, Amazon, something like that? Is that more of a, an easier way to do it, you think?
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Yeah. This is why you're so good at podcasting. Because that question is the question that I don't understand why most small business owners don't get it. They hear about TikTok shop, but they think for some reason they have to go on and create all this content to be able to grow their brand's TikTok shop. You don't have to go viral to win on TikTok shops. You have these micro influencers that you do this affiliate deal with, let them go viral and that is where the real growth is. And I feel that most people that aren't engaged in TikTok with their personal brands or their business brands really miss this because they've got it all wrong and they think for some reason they have to go on and dance in front of a camera to really crush it and it's just so far from the truth.
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B
That's awesome. That's so cool. So there we go. If you're a small business owner, seems to me like you need to be on TikTok shop now. Robert, let's jump into our Q A section of this episode. As a quick reminder, these episodes Q&As are entirely focused on small business owners side hustlers. People out here trying to earn more money, keep more like do the thing to really help them become financially free outside of their W2 job. So our first question comes from Paul P. Paul says my home services business is growing and my finances are chaotic. Between a personal card, cash app and random invoices. What is the simplest 90 day back office plan that I can go and build out myself so I'm not drowning in admin. For example, I want to know what y' all use for banking, payroll, bookkeeping and insurance. Robert, you want to kick it off?
- [21:10]
A
Yeah. This is a great question and I see so many small business owners struggle with this. But let's not over complicate it as your business is growing. Yes, you need a good payroll company. We use gusto. But there are other really good ones out there. And as far as bookkeeping, I think you can keep it really simple. I know, Austin, you use something different than we do, but we use QuickBooks online. It's very robust. It does all the things we need to do. And then as far as banking, find a bank that works for you. I don't use certain banks because if they don't give great customer service or I can't get in and do wires quickly or whatever. So for me, our biggest banks right now are Chase and 5th 3rd. They have a lot of locations, which helps a lot as well. But then also you got to look at your insurance. But also make sure for insurance, it's one of the sticklers out there for small business owners. I mix up my insurance companies all the time. I change it up every couple years because it feels like they're always raising prices on me even if I have no claims. So I hope this helps. That's what we do. And then we mix in AI, we mix in ClickUp and some of these other companies that help put a bow on it and keep us really organized.
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B
I think it's a great breakdown. I do actually use QuickBooks here and there. My accountant, my bookkeeper needs to use QuickBooks. So that's, that's the need for that. I use gusto. I've been using gusto for years. I use RO for my business banking. It's super. The wires are free, they're all online, everything. It's, it's so, so incredible. And then I think that's about it. I, from an insurance perspective, I've got like insurance through my personal, like I've got an umbrella policy. I've got obviously, you know, auto and everything else I need from that perspective. But I don't have like a business insurance. What's the reason, Robert, from your perspective, that someone would want to have like business insurance is more because of the activity that they're doing with the business. Right? That's what gets insured.
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A
Yeah, but it also could be inventory, it could be equipment that you have inside the business. So it depends if you're doing manufacturing and you have expensive equipment. So there's a lot of different ways to get insurance. You just have to make it make sense for your style of business. So I have various policies. Like in the restaurants, you know, you have to make sure you cover all of your equipment. But then in the warehouse, I don't have a lot of equipment. So then I have more insurance on the inventory than I do any equipment. So it is all business to business dependent. So I hope that helps from an insurance perspective.
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B
Our next question comes from Will J. Will says I've got 60 legacy clients on old rates and new clients on higher pricing. Margins are getting squeezed. So how do I roll out a new pricing increase that preserves the goodwill grandfathering people in stage, step ups, value add bundles, things like that, plus messaging that doesn't get everyone all upset. Robert, you can start on this one as well.
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A
Well, yeah, this one is easy. You can't eat off of grandfathering from people from the past. So what I do in my business is I rate my customers A, B and C. And so I want to make sure to take care of the A customers as much as possible and migrate the Bs to becoming an A and get rid of the Cs. Because the problem is you stated that margins are getting squeezed. You're over here suffering when you should be thriving because you're afraid to hurt someone's feelings. Well, if you have a good service, whether it's legal or landscaping or it's a beauty salon, whatever it is, I would really look to it. Go to them, write a Beautiful letter. Hey, Mr. And Mrs. X. Unfortunately, you know, based on tariffs or whatever the reason is, our margins are very squeezed right now. And we would really like to retain you as a client, but we are going to have to have a 6%, an 8%, a 10% price increase. We hope that's okay for you. And we're giving you a window of time to prepare for that and we would like to see that get initiated January 1st of this year, December 1st, whatever it is. So I think you just have to stand up for yourself and realize that if you're trading time for money and services for money, but you're not getting ahead from it, you're wasting your time. So I wouldn't worry about if a few people leave because you're going to do better with the people that stay and getting them in the right pricing model.
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B
I totally agree. I think a couple key words you said there was like get ahead of it so that they have time to go find someone to replace you. Right? Don't just like increase prices and like give them a couple months heads up. But also like more transparency the better in my opinion. Like to your point, it's like, hey, when you were a client with us seven years ago at these grandfathered in prices, transparently speaking, our profit margins were, were 15%. Now our profit margins because of ABC XYZ are only 4 and a half percent or 9% or whatever.
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A
Right?
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B
Unfortunately, we need to maintain 15 profit margins for this to be a sustainable business. This is a business and not a hobby. We'd love to keep you as a client at this price. If not, here are a couple of our competitors that we recommend that could do a similar is good job for you. We respect that you need our services and our products and things like that. So I think just, just more transparency the better. Be nice to them. Assuming you do want to keep them on as a client. If you don't want to keep them on as a client, raise prices. And if they leave, cool. That's what you wanted anyway.
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A
Yeah, it was the best thing I learned and this was probably 10 years ago. I went to my controller and my managers and our T shirt shop was so busy, our print shop, we were packed seven days a week, 12 hours a day. But I was just shrinking and shrinking and shrinking in profit. And it was because all of those B and C clients that nickel and dime used to death and won't pay the prices that they should be paying because they were grandfathered in. So we did the ABC rating, we got rid of all the Cs and I got a lot of guff for it. But I'll tell you what, our profits soared and our quality of lives soared because we weren't always backs against the wall trying to figure out how to keep up. So I think it can help anyone with a small business because you just don't want to be trading time for money. You need to be making the profits that get you ahead. Head.
- [27:20]
B
Yes. A business that doesn't make money is called a hobby. Which are fine, hobbies are great, but if it's a real business, gotta treat it as such. Now our final question comes from Lucy F. Lucy says, I run a profitable business, but I feel chained to the company. I don't have time off. I have constant decision fatigue, and I'm starting to resent what I do. How do seasoned business owners rebuild boundaries, Cadence, meetings, delegated decisions, on call planning things of that nature so the business becomes sustainable without stalling growth? This is a really good question from my perspective as someone who also works a ton and has not yet figured out how to do this for himself. So take what I say with a grain of salt. I think there is a couple things that need to be true. The first thing that needs to be true is you can either have a lot of money or you can have a lot of time. You can't really have both growth. And by that I mean your money is spent on people that can do things for you that give you back your time as a business owner. Right? And if you have trouble finding time in the day because of all the business, you have no real time off, constant decision fatigue, and you're beginning to resent what you do. It sounds to me like you need a little bit more autonomy in your business in the sense that you need people. You need to hire people that can take these decisions off your plate, people that can allow you to have real time off and the business doesn't fall apart. Now, you might be someone that is, you know, offering a specific service or something that is like just, you know, totally to you. Like, for example, Robert and I, no one can really replace us on this podcast, right? I can't just go hire and train someone to be a podcaster for me for two weeks while I go Rome, Europe or something. So if you have a business like that, it's what you signed up for, like what we did here. But if you have a normal business where you provide services or sell products or things like that, nine times out of ten, you can train someone to help you do it at the same caliber that you do it. And so how do you do that? How do you find and train people? I'm a big believer. And when it comes to hiring, I like to ensure that they are just as motivated to do what they're doing as I as motivated to find them. Which means if they want 10% higher than what market's paying right now, I will pay someone more and have higher expectations, but I will pay someone more knowing that I need someone to do this job. They seem like the right fit and I'm going to make sure that I get this figured out out versus trying to find someone 10% below market that might not be doing the best job. They're a B or a C type player and it's not something you want on your team. So at the end of the day, it comes down to ensuring that you are hiring the right people. You're using things like indeed, LinkedIn. There's so many people that are looking for jobs right now. So like the hiring pool is great. Go check that out for sure. But. But yeah, what's your, what's your take on this one, Robert?
- [30:07]
A
It is one of the most difficult things that small business owners and entrepreneurs face. You and I do it right now. Back in the Silly Bands E era, I hired Too Slow and the company really took off. And I think it's one of those things where you mentioned seasoned founders, which I love that because it means you have partners that have been doing this for a while. So what I look at is you need to set these boundaries. They need to be ironclad. Hey, every Tuesday and Thursday I'm coming in at noon instead of nine because I want to go take yoga, I want to go for long walks on the beach, whatever it may be. You need to set the boundaries and make sure they have the same set of boundaries so they can have some freedom as well. But then it also comes from something that Austin noted that I think is very important is no one can do on this podcast what Austin and I do, and we can't hire it out. But in a lot of businesses, you might have to find two people that can do 70% what you do and hire both of them to be able to get to that hundred percent or greater to be able to get some of these tasks off of your back. Because so many people, you hear the phrase people are working in their business, not on their business. And I feel like that's what you're doing right now. And I see this a lot where people are working in the business and not on the business. And it's so important for that distinction. And one of the things that seems to help a lot of people that I talk to is getting them to put an roi Put a price on what your hourly value is, is that return on investment and hire everything away that you can that is below that. So let's say you determine you feel your hourly rate for your value in the company is $100 an hour. If you can hire somebody to do a bunch of those tasks that you would gain $100 an hour for, for 25, 30, $35. Hire it away because you shouldn't be sweeping floors, you shouldn't be going and doing things that someone else can do for 80% as good as you do. If you can, hire it away for a lot less per hour or for a part time salary. So I hope that helps because you have to get processes and you have to get freedom because burnout is real and so is quality of life that you're avoiding because you haven't figured this out yet. So I hope all of this helps you in the mental game so you can really get outside of this and live a great life.
- [32:28]
B
Mic drop moment by yours truly. Geez Louise, everybody. Thank you so much for tuning into this week's episode of the Rich Habits Radar, a new Friday episode brought to you by the Rich Habits Podcast that is focused on the biggest headlines and happenings impacting you and your money. We're so grateful to have all of you come back every Friday to learn more about what's been happening behind the scenes in the market this week. And I'm really glad that we've entered now the fourth year of this bull market. Robert, it's, it's exciting to know that back in early 2023, when we started this show, we're telling people, be a net buyer of assets, buy stocks. This is a thing rock and roll with us here in this bull market up until the rights, where we go, especially over a long period of time. And it's, it's paid off. So we're just so grateful that y' all come back every single week.
- [33:11]
A
Yes. And I am so grateful. Big moment, Drum roll for Austin and I, Christian and the team, because the Rich Habits network has eclipsed 800 members. It's just an incredible moment for us because we're so close to a thousand members. And it really just shows that this ecosystem that we've built with the Rich Habits Podcast, the Rich Habits newsletter, and the Rich Habits Network is just really working for so many people, people that are trying to level up their finances, level up their mindset. So I'm just so excited about that. What a monumental moment for us in the past week. So thank you all for the incredible support.
- [33:49]
B
Thanks, everyone, and we'll see you on Monday.
- [34:17]
A
And, Doug, here we have the Limu Emu in its natural habitat, helping people customize their car insurance and save hundreds with Liberty Mutual. Fascinating. It's accompanied by his natural ally. Dark Limu.
- [34:33]
C
Is that guy with the binoculars watching us?
- [34:35]
A
Cut the camera. They see us.
- [34:37]
B
Only pay for what you need@libertymutual.com Liberty Liberty.
- [34:40]
A
Liberty Savings.
- [34:42]
B
Very. Underwritten by Liberty Mutual Insurance Company affiliates. Excludes Massachusetts.