Our (For Now!) Farewell

Matt, what do you think the big story is, or one of the most interesting stories that you may not have paid attention to in the last couple of years when it comes to money?

I mean, honestly, and I'm stealing a line from an investor named Tom Lee, but honestly, the big story the last couple of years is that this is just the most hated rally ever.

Oh, I love that.

I love that it's a rally, but it's hated.

It rings true to me.

If you roll back the tape right about when we started TLDR, The mood in the market was one of, call it, cautious optimism.

You know, all of 2023, really, you know, everyone was worried about going into a big global recession.

You know, stocks had plunged into the toilet.

But by the time, you know, fall had come around, people were starting to wonder, OK, well, maybe this recession might not come.

But nobody was thinking, man, you know, markets are going to rally another 40 or 50 percent.

Is that how much markets have rallied since CLDR started? I think it's something like that.

That's insane.

Tell us a little bit more about how it happened.

I

mean, you can mostly boil it down to three or four discrete events.

I mean, the first one has to be, you know, back in February 2024, when NVIDIA basically kicked off the AI gold rush, like it announced these blowout earnings.

That's really interesting also that it was so recent.

The NVIDIA earnings call seems like it happened so long ago.

I mean, look, every Nvidia earnings call is a big event, but this is the one where they announced that their sales had basically doubled and the stock was up 20% in a day and it added nearly $300 billion in wealth to Nvidia's investors.

And that was sort of the moment, ChatGPT had been out for over a year, but that was sort of the moment that everyone realized, oh, generative AI is not just like a toy.

It's also something that people are spending big money on And actually, you know, will lead to earnings and prop up the overall global economy.

I know somebody bought a condo after that rally.

They had put so much on NVIDIA.

I mean, I remember I was at a bar like a month or so after that.

I was just, you know, waiting for somebody.