But how do you think about portfolio construction broadly and maybe you can run us through the heat formula, Matt.

Yeah.

So we've got a process, as you said, the heat formula.

It's something that we write about in my daily newsletter.

It's something we implement in our wealth management firm, Total Wealth Partners.

And I've got a book coming out about it probably first quarter next year is when the book will be out.

And it's how I manage my money.

What's your advice to that person?

And I think a lot of it driven by certainly the comments by any of the hyperscalers, by Nvidia, by all of them, right?

Well, and I think what you've got is traders are looking at higher oil prices, higher rates as temporary.

And they're looking at what's going on with AI as something that's going to last two, three, five, 10, 15 years.

So they're ignoring.

We'll see whether that's at their peril or not, but they're ignoring what's going on with oil and rates and piling in to all the AI stuff.

And so where are you on that? So I think you've got to be in those bottleneck trades.

Yeah.

Wait, so tell us a little bit about the UFO ETF.

Yeah.

I mean, but all these names have just run so far based on this idea of what AI is going to become.

And I think you play that trade until it's over.

And again, watch your position sizing.

But on the bottlenecks, you've just got to keep going down layer after layer after layer.

So I don't know that I'd be, I mean, you should own the memory names, but I'd be looking at what's the next level down? What's the next level down? Try to stay a step ahead of where retail is going, which is why I like a company like Schmidt.

money is coming from the White House.

He's telling you where to invest.

Talk to us about why you like it.

Yeah, I mean, this was just an insane quarter.

You know, blowouts all over the place.

Interestingly, though, You know, Apple used to be Apple, and it's not anymore.

I mean, it used to be that you could just buy one stock, and that was Apple.

And, you know, it's not what it was.

It's still, in our mind, a must-own.

What do you think is vulnerable within the MAG-7 names? Which ones?

What's what's the pattern here that you notice the most?

Yeah, it's the usual war playbook.

War starts, stocks sell off, oil goes higher.

And then the typical playbook to play that is you buy the dip in stocks and you stay away from the rip in oil.

Understand that the normal playbook is only the normal playbook until it isn't.

I would not be surprised to see us close well off the lows.

I mean, even green today.

How does an everyday investor, you know, kind of play into that theme without really chasing the speculative kind of moves?

So what's changed in the world of defense that that's kind of the focus?

Yeah, so one thing you want to do around Trump again is what areas are we behind China and what areas can we not afford to lose? And that's where the money is going to go.

So when we look at Defense 3.0, We're looking at it really all as a related trade, missiles, drones, space.

And there are a lot of great names in all of those areas.

The space names have been taking off.

We've been writing about those in our newsletter for a while.

But the defense names are great.

What's your view on that? Is it, you know, kind of do you see Palantir as being at the nucleus of the new frontier of defense?