00:00So, Steve, getting back to fear and greed, what is an area or what are your thoughts about where it
00:07would make sense to be for investors to be a little greedy today?
00:11What areas do you see opportunities?
00:13Well, I mean, there's no shortage of places where the greed is being expressed.
00:17So I think the place.
00:18I mean, good greed.
00:19Well, you know, I'm a belief of the be fearful when others are greedy and be greedy where others are
00:26fearful.
00:26So I think, you know, what you want to start doing is finding the value stocks that have been left
00:31behind.
00:32And value does not mean cheap.
00:35And I think that gets thrown around a lot.
00:38Oh, you know, it's got a PE of six.
00:40Well, there may be a very good reason why it has a PE of six.
00:43But if you can find sort of those nuggets right now, and they're harder to find, if you could find
00:48stocks that are trading at attractive valuations and have demonstrated some ability,
00:53if not to grow aggressively, but at least to spin off admirable amounts of cash, that's the place.
00:59That's the place to be greedy right now, I think, because, you know, the rest of the stuff is just
01:03there's so much there's so much greed being expressed.
01:06Let's find the places that have been sort of left behind.
01:09And where do you what places are those in your there are a lot of some some industrials.
01:14I would have said some consumer stocks, but a lot of the consumer stocks have gotten picked over pretty aggressively.
01:19And, you know, if you know, when I think about, like, let's say, Walmart having the same PE as Nvidia,
01:24which was literally the case when they when they released earnings a couple of weeks ago, you know, that's a
01:30hard place to look.
01:31So, you know, some of the utilities that have not gotten on the bandwagon that have stable rate bases energy
01:38got its big run up and kind of got forgotten about.
01:41But but right now, if you think that the straits are not going to reopen very quickly and you look
01:46at, let's say, the the the backwardation in in oil prices, we're looking at $90 a barrel, you know, for
01:53another.
01:54I believe you use the word backwardation.
01:55Sorry.
01:56Sorry.
01:58I mean, all futures and options.
02:00Some of this.
02:01I'm sorry.
02:01I'm sorry.
02:03But yeah, please.
02:04No, but that but that's those are some places that I would be looking.
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