Moon gang, we got ta talk about something in my year year and a half of doing these live streams. There's certain times when i'm very, very happy, there's certain times where i'm sad upset angry, i am not certain well actually. I am certain that there's nothing that i have found to be more irksome or has prompted me to become more irate than this story right here. Please buckle up warren buffett's protege, warns of dangerous speculation in markets and compares the meme stock boom to the dutch tulip bubble.

This is not written by the onion. You might be thinking lol, matt, that's a good one. You got us early. No, this is real.

This is really real and if your blood pressure is currently going through the roof, because someone besieged the name of the dutch tulip investment, i'm right there with you. But sometimes this is life and we just have to do our best to be as mature as we possibly can about it. Warren buffett's former sidekick warns speculators. They risk heavy losses in her annual letter.

Well, my first gut instinct is: maybe she wasn't a sidekick for long enough. Maybe she has another thing or two to learn. Can brick co-founder tracy brit cool? Well, that's a misspelling! It's obviously tracy britt uncool bada-boom compared the meme stock boom to the dutch tulip bubble. How dare you, how dare you, brick cool, echoed buffett's, past comments about long-term investing and what makes a great business, and i want you to remember this - we're talking about long-term, investing, keep that in mind because we're going to be circling back to it.

So these are some comments from mrs uncool, maybe ms uncool, i'm not sure. Over the last year, we've seen a rise in speculation under the guise of investing, which is similar to having a friend who goes to the local riverboat casino to invest. So, once again, if you are a riverboat casino investor, she is also coming after you, while both speculating and gambling can produce great payoffs and a sea of endorphins heartbreak is almost sure to eventually follow. Memes and social media are modern inventions.

Yet our underlying human psychology hasn't evolved much since the tulip mania of the 1630s. So between my bouts of anger and rage, i kept thinking about that particular line. I've been fixated on this for hours and hours and hours. Is it healthy? No, but whatever we'll talk about that later or i'll, just talk to my therapist about it underlying human psychology hasn't evolved much since the tulip mania of the 1630s.

I love to think about it in a certain sense of we were just always developing in human psychology and then the tulip bubble stopped and i'm just picturing her arguments like that's it like we just like human psychology, better, better, better, better and then she's like it Wrong 1630s was, like the last time human psychology ever improved, uh so back to buffett, because this is buffett's sidekick, ms uncool, but buffett himself, a guy who loves a lot of food for one simple cost: uh berkshire hathaway ceo has urged investors not to treat the Stock market, like a gambling parlor, those are tough words from mr buffet and then they go into a mentor's impact and how she's like come up with some of her own ideology, just like in musical chairs. Eventually, the music stops and buyers disappear. We prefer finding companies that offer some margin of safety instead of hoping to find an empty seat. So this is really the illuminating aspect of the article and of course they put it right at the in the end because they know who has the reading attention to.

Like go all the way to the end, what i'm hearing is just the fact that there is it sounds like she's, really bad at musical chairs. It sounds like she was the person at various middle school, high school and potentially college-based parties that she just didn't win at musical chairs and hey. I understand if i was always a musical chairs loser. I would be using my position to argue against it campaign against it and i feel like that's what she's doing.

I feel like the heart of what she's saying with meme socks and tulips is that she sucks at musical chairs and for those of you who don't know, this is what we need to talk about tulip mania: the 1930s in 1633, a single bulb of the rare Semper augustus tulip was around 330 000 and by 1637 it was over 600 thousand uh, which is obviously over half a million dollars for a bubble, and this is how it went from 34. Up to almost 37, we had a huge spike. People were trading, a singular tulip bulb for an entire house, and then it came down and people are saying that the bubble burst they're, saying that it crashed and folks, let me let you in on a little secret this. This is not a bullet a bubble bursting.

This is not a crash, it's called consolidation. It's called read a book and understand that sometimes your best investments - they can go into a 400 year consolidation. It's not that big of a deal it's just 400 years. The fact that mrs uncool and mr buffet don't think that tulips are going to come back.

It really really makes me question if they know what they're talking about do. They really know about markets, so i i don't know, there's people who are saying no way does a particular commodity based on flowers consolidate for 400 years, and to me it's just like: did you pay attention invest in class? Did you open a business book ever? I don't know just a little bit of food for thought and let me know your thoughts in a comment. Would love we'd love to know your thoughts because obviously, i'm 100 against some of these sentiments crazy, crazy stuff?.