RUSH TRANSCRIPT Upside and ░░░░░░░░ they trand Frank back ░░░░░░░░ you Appreciate it Next ░░░░░░░░ said the bull market ░░░░░░░░ depends on the stimulus ░░░░░░░░ whether or not it ░░░░░░░░ continue He looks for ░░░░░░░░ with good fundamental Dave ░░░░░░░░ thank you for being ░░░░░░░░ Glad to be here ░░░░░░░░ you We know the ░░░░░░░░ field is changing a ░░░░░░░░ with the Fed saying ░░░░░░░░ tapering could be coming ░░░░░░░░ this year does that ░░░░░░░░ your thesis with stocks ░░░░░░░░ the fundamental story I ░░░░░░░░ there s a big ░░░░░░░░ to quality that is ░░░░░░░░ not just on the ░░░░░░░░ side but the retail ░░░░░░░░ because whenever your investing ░░░░░░░░ is based on momentum ░░░░░░░░ meme stocks there s ░░░░░░░░ vacuum there s a ░░░░░░░░ lack of an understanding ░░░░░░░░ fundamentals because let s ░░░░░░░░ it Nobody would invest ░░░░░░░░ amc or gamestop would ░░░░░░░░ because of fundamentals so ░░░░░░░░ would be strong and ░░░░░░░░ and see the stocks ░░░░░░░░ get a lot of ░░░░░░░░ I know you pick ░░░░░░░░ Disney and Walmart drill ░░░░░░░░ on Walmart Seems like ░░░░░░░░ idea is priced in ░░░░░░░░ the stock only up ░░░░░░░░ year to late Amazon ░░░░░░░░ us in the earnings ░░░░░░░░ buy less stuff What ░░░░░░░░ you seeing to drive ░░░░░░░░ stock higher knowing that ░░░░░░░░ want to get out ░░░░░░░░ the house and even ░░░░░░░░ the delta variant they ░░░░░░░░ to travel more The ░░░░░░░░ thing is you don ░░░░░░░░ talk about fancy marginal ░░░░░░░░ of things you don ░░░░░░░░ need but it is ░░░░░░░░ staples and a great ░░░░░░░░ and scale and merchandising ░░░░░░░░ remains the best and ░░░░░░░░ successful retailer in the ░░░░░░░░ The valuation is dirt ░░░░░░░░ Trading as if the ░░░░░░░░ will decline by 30 ░░░░░░░░ don t think that ░░░░░░░░ the case Amazon trying ░░░░░░░░ build Walmart like stores ░░░░░░░░ the validation Walmart is ░░░░░░░░ I would submit to ░░░░░░░░ it is cheaper to ░░░░░░░░ up online than brick ░░░░░░░░ mortar so much of ░░░░░░░░ theme around Amazon was ░░░░░░░░ capital efficient business so ░░░░░░░░ faster and quicker not ░░░░░░░░ the brick and mortar ░░░░░░░░ where Walmart already dominates ░░░░░░░░ you see Walmart moving ░░░░░░░░ a higher margin and ░░░░░░░░ moving into a lower ░░░░░░░░ on capital type of ░░░░░░░░ Walmart is priced cheaply ░░░░░░░░ of a no brainer ░░░░░░░░ your opinion I wonder ░░░░░░░░ you would make the ░░░░░░░░ analogy with Disney netflix ░░░░░░░░ didn t go anywhere ░░░░░░░░ the past year No ░░░░░░░░ is still really expensive ░░░░░░░░ is a mismatch netflix ░░░░░░░░ a featherweight and Disney ░░░░░░░░ a heavyweight champion of ░░░░░░░░ world in original content ░░░░░░░░ and monetizing the content ░░░░░░░░ doesn t stand a ░░░░░░░░ in the long term ░░░░░░░░ champion of the world ░░░░░░░░ successful content original netflix ░░░░░░░░ a one trick pony ░░░░░░░░ punch All they do ░░░░░░░░ make money over streaming ░░░░░░░░ has theme parks and ░░░░░░░░ It is an apples ░░░░░░░░ oranges and the netflix ░░░░░░░░ is beginning to unwind ░░░░░░░░ to get into video ░░░░░░░░ and a matter of ░░░░░░░░ before that house of ░░░░░░░░ implodes I think the ░░░░░░░░ is around 50 Earnings ░░░░░░░░ depressedwith the acquisition Covid ░░░░░░░░ them back a little ░░░░░░░░ but that s temporary ░░░░░░░░ the long term and ░░░░░░░░ flows m played by ░░░░░░░░ current stock price I ░░░░░░░░ it s close to ░░░░░░░░ bucks taking into consideration ░░░░░░░░ creation All right robinhood ░░░░░░░░ are very bearish on ░░░░░░░░ I don t know ░░░░░░░░ the business can survive ░░░░░░░░ think it s an ░░░░░░░░ and takes all the ░░░░░░░░ share in the brokerage ░░░░░░░░ but it is already ░░░░░░░░ to be bigger than ░░░░░░░░ right That s what ░░░░░░░░ current valuation applies and ░░░░░░░░ many competitors they have ░░░░░░░░ is not just schwab ░░░░░░░░ fidelity but against Las ░░░░░░░░ Against draftkings right Robinhood ░░░░░░░░ a place for gamblers ░░░░░░░░ investors Looking at the ░░░░░░░░ of where gamblers are ░░░░░░░░ and they admit there ░░░░░░░░ less growth in the ░░░░░░░░ half right Vegas is ░░░░░░░░ Football is more fun ░░░░░░░░ bet on than stocks ░░░░░░░░ yeah I m not ░░░░░░░░ we ll see robinhood ░░░░░░░░ do anything but go ░░░░░░░░ from here and a ░░░░░░░░ more from here The ░░░░░░░░ are down almost 10 ░░░░░░░░ Now we have to ░░░░░░░░ the fantasy football picks ░░░░░░░░ guess this is a ░░░░░░░░ Frank benefiting from crypto ░░░░░░░░ Given the caution that ░░░░░░░░ project. We appreciate it today