Confronting Humphrey Yang About ‘Diary of a CEO’ – Financial Advisors React

Introduction – Reacting to Humphrey Yang on Diary of a CEO (0:00)

Humphrey: Behind the scenes, Steven Bartlett has a tablet in front of him, but he’s also just on chat GPT. Maybe I shouldn’t have said that.

Brian: The only way you make money is for somebody to pay more than you paid.

Humphrey: I would be careful of listening to people on the internet say that the only way to generate wealth is through a speculative asset.

Raoul Pal: Housing is different because you can endlessly create more housing.

Bo: Well, that doesn’t pass the sniff test.

Brian: There’s always going to be hard stuff. You have to figure out how you can pull yourself out.

Brian: Content team’s been busy. Had a great opportunity. We already have Humphrey Yang on the show. But better yet, Humphrey was just on the Diary of a CEO. We were like, let’s react to see what we think.

Bo: Brian, I am so excited about this. Humphrey, thank you for being with us today. I can’t wait to hear a little bit of behind the scenes and I can’t wait to see what clips the team has pulled for us today.

Humphrey: I can’t wait either.

Active vs. Passive Investing (0:48)

Steven Bartlett: Should people be actively investing or should they just put the money in an S&P 500 and be patient?

Jaspreet: I say most people should not be active investors. In fact, I say 98% of America should not be active investors. Just be a passive investor because if you don’t want to put in the work, if you’re not willing to put in the time and the effort to research, you’re probably going to lose. And many people do.

Steven: So, why do people want to be active investors if the probability is stacked against them?

Jaspreet: Well, if you get a little bit better returns, if you’re willing to put in the work, you can get better returns. And it is possible. We do see people that are doing it consistently.

Steven: Is there an element of fun in entertainment?

Jaspreet: Absolutely. People like sports betting and that’s the problem because the fun is I like researching versus oh I want to see my money go up tomorrow. If I buy a house tomorrow morning, am I going to go on to Zillow in the afternoon check what is my house price? I’m going to check it in the evening. What’s my house price? No. Because you know that this is something I want to own for the long term. Well, when I go into the stock market because it’s so liquid, I buy a stock in the morning. I’m checking it 15 minutes later. I’m checking at lunch. I’m checking in the bathroom. I’m checking in the evening. And I’m getting anxiety because if it’s going up or down, I’m very emotional and that emotional control as an investor which is just as important as the research that you’re putting in.

Raoul Pal: I see I fundamentally differ all of this stuff.

Bo: What a cliffhanger. I fundamentally differ because I was kind of right along with him. I loved everything that he was saying and I agree with 98% of everything that he just said.

Brian: We’ve heard Jaspreet Singh, Minority Mindset, right? I can’t remember his name, I would be like preach, you know, but man, I wish I’d have gotten to go first. You know, that’s these are the things I’d be saying because a lot of that stuff is spot on. The markets are so efficient, you know, just be passive.

Humphrey: No, I really loved what he said. I mean, it’s really true. You know, you buy a house, you’re not checking the value of it on Zillow basically ever. Maybe you check it once a year or, you know, whatever, once every 5 years. But with a stock, since it’s so liquid, that’s a pros and con, right? You could buy and sell it at any time. So, liquidity is nice, but then you’re checking it all the time. I’ll give you a little bit of color on that scene and behind the scenes. Steven Bartlett has a tablet in front of him.

Bo: Okay.

Humphrey: And he’s going over show notes like all the questions that he wants to ask. But he’s also just on chat GPT a lot. Sorry, Steven.

Brian: Interesting.

Humphrey: But yeah, but chat GPT helps inform, maybe I shouldn’t have said that, but chat GPT helps inform. I know Steven does use chat GPT a lot and he has it in his behind the diary video channel. So I know that I can probably say that. And so he’s usually researching stuff on chat GPT while interviewing a guest.

Bo: Pretty impressive he can do that in an interview format while he’s doing that. That’s an impressive skill set. I’ll tell you the one thing that Jaspreet said that just made me just tinge a little bit. He said that hey unless you’re willing to put in the time you shouldn’t be an active investor. Well, he almost laid it next to if you’re willing to put in the time to be an active investor, you could be successful. I would argue even that’s not the case. Even if you’re willing to put in the time, I’m going to spend 40, 50, 60 hours every single week trying to go out and beat the market. I would still argue there is a low probability that you’ll actually be able to do it. And so if you want to set yourself up on the side of probabilities, where will I likely have the most success? Being a passive investor, not trying to beat the market, but just trying to be the market will likely set you up for more success. Whether you’re willing to put the time in on research or not.

Brian: Yeah, just go check out the SPIVA data.

Humphrey: Yeah, I made a video on the SPIVA data. The SPIVA data is great. SPIVA, that’s another acronym, guys.

Raoul Pal – Taking Risk to Close the Gap (4:15)

Raoul Pal: I see how fundamentally different all of this stuff is. People are so screwed. They are coming out of university with massive debts. We looked at the stat earlier. Percentage of 30-year-olds who have a mortgage and a married has gone from 52% in 1950 to 12%. Nobody can afford anything. So if you look at the average millennial in the US and a Gen Z, they generally have a 401(k) if they’ve got a job, right? They have some sort of savings, but they’re taking massive amounts of risk. A lot of us would look at them and say, “This is ridiculous.” Why are they taking risk? For anyone that, because there is no way of closing the gap between buying, getting the deposit on the house, getting into a house, realizing that future vision of themselves, however reasonable that is. Why? It’s so far away. Because the cost of assets has gone up so much versus their incomes don’t go up.

Steven: You mean the cost of buying like a house, for example?

Raoul: Yes, or even however much percentage share of the stock market the average salary does, you know, stuff like that that you’re getting less for your money.

Humphrey: Yeah. I do want to point out one thing about the statistic that he led with there, which was like the people that, the percentage of people that were mortgaged and married from 1970 till now. I think that data set in particular had both of those variables combined together. We already know that people aren’t getting married as early as they once were, so that number is already kind of pulled down. It’s exaggeratedly skewed to the downside, I would say. So, that is the one note I want to say about that.

Bo: And I don’t want to disagree with his premise that things are getting more expensive. Student loans are higher now than they will have been historically. The cost of housing is higher now than it has been historically. What I cannot reconcile is the way he started the clip was I fundamentally disagree with everything Jaspreet said. Here are some truths that exist in this world. What he didn’t say is why what Jaspreet said does not actually align with why you need to be taking being an investor and passively invested seriously because the cost of things have been increasing and are likely going to continue to increase for the next 20, 30, 40 years. So you better be doing something to combat that.

Brian: Look historically if you go look at the FRED data, the Federal Reserve, the typical American even in those periods he’s talking about were not investing hardly anything. You can’t use just history because people only had really assets from their home equity, not from S&P 500 investing and all the other type of things. I worry when somebody uses the shock and awe stats that he used that it’s going to turn off an entire generation. This will probably create some comments and some dust from it, but I put it in the book. Villains and victims never win. And I don’t want you to look at yourself as a victim. Yes, there are some hard things that are coming your way, but I just know there’s always going to be hard things that are coming your way. You can’t control that. You can only take what you can control and try to make the best of the situation. And the best you can make a situation is we have a growing economy with law of accelerating returns where things are getting faster and faster with innovation that you can actually buy a small portion of that success. Actually own assets that are going to appreciate faster than inflation and you can pull yourself out. I did it. Bo did it. Humphrey did it. We can all do this. Just don’t let somebody lock you into a mindset of behavior that you’re not going to ever get out of this because I can tell you statistically there’s always going to be a bell curve. You get to choose where you want to be in that bell curve of success because everybody else in your generation is facing the exact same thing. Figure out how you’re going to pull yourself out of this. And I know a lot of you, you’re going to say, “Brian, you don’t understand.” I’m just telling you, there’s always going to be hard stuff. You have to figure out how you can pull yourself out.

Humphrey: Yeah, I like that. I think that, you know, his main premise is like you’re never going to close the gap, so you might as well take a really big swing. And I just don’t agree with that.

Brian: You got to set up to go one hard way, you have to set up an extreme over here. I get it. I mean, people do that stuff in negotiations all the time. Go way over here so you can go over here with the next premise he’s going to present to us.

Bitcoin vs. S&P 500 Risk/Reward (8:22)

Jaspreet: If we look at the crashes from you know recent history, 2020 stocks fell by 30%, Bitcoin fell by 50%. 2022 stocks fell by, the S&P fell by about 20%. Bitcoin fell by 60%. So in those times people who are in the S&P are freaking out selling.

Raoul: Yeah. But here’s the thing. This is the risk-reward that people don’t understand. If you’ve got a time horizon, let’s say the average draw down in the S&P during a bear market is 25%.

Steven: A draw down being a drop.

Raoul: A drop. Yeah. A drop in prices. You’re getting compensated 15% a year returns for that at best. In Bitcoin, the average draw down over the same period will be about 70%. But you’re getting 150% return.

Jaspreet: If you’re on the winning side though. If I buy it and I can sell it for a higher price.

Raoul: Just hold it. Just hold it.

Humphrey: I know you guys have a lot of takes on cryptocurrency, but you know, his main premise is like Bitcoin since its inception has returned about 150% per year. But I think my argument on the podcast itself was like people aren’t going to hold through a 70% draw down, they’re out, you know, pretty quickly. You know, if I can’t hold Apple stock through a 10% draw down, you know, and I’m a reasonably, you know, I have the knowledge about investing and I get scared at 10%. I don’t know if I could hold at 70%. I mean I would probably hold it at 70% because it’s like I can’t lose that much more, but could I hold it for 15 years or if it was up double would I just sell it at that point?

Bo: If you think about the undulations they described in the stock market, a 25% draw down and they didn’t talk about an upside, but let’s say it’s a 30%, 40%, 50% upside potential, right? On that same sort of undulation scale. And then you have Bitcoin that’s a 70% draw down, 150% upside. When you lengthen the distance between the trough and the peak, you have more opportunity to make a bad decision along that. So what you’re doing with the S&P 500, you’re actually like banding down both of those. That’s going to be a much more consistent, much more stable ride for most investors. Because I agree with you, most investors are likely to freak out on one side or the other. I’m either gonna lose 50% and I can’t handle anymore. I’m going to make 100%. I’m going to get out while I can. At least when you buy the stock market, when you’re buying the S&P 500, you recognize, yeah, that yo-yo is going up and down, but it’s going up and down steadily up the mountain, higher, higher, higher, higher. And we have hundred years of data to substantiate that claim that it is building. It is expanding. Companies are becoming more valuable. There is innovation happening. Those things are not necessarily true about cryptocurrency.

Brian: Just last week, I was responding to an X post where somebody had said they used a rate of return assumption that said that Bitcoin was better than 401(k)s. But when you looked at the data, it’s because they were using a 30% annual year-over-year growth rate versus the S&P, which was around 10 to 12%. They were saying, “Look, even with the free money from your employer, it’s not going to keep up with 30%.” I was like, “Man, that 30% assumption is doing a lot of heavy lifting because Bitcoin, and look, I’m not trying to get into is it good or bad?” Because I just don’t think, but it is one of those things. It’s just like gold in the fact that the only way you make money is for somebody to pay more than you paid on it. It’s not like it generates dividend. It doesn’t generate income. It doesn’t innovate. It’s only going to be if somebody pays more. Be careful with that framing.

Raoul: Just hold it.

Steven: That’s the key.

Housing vs. Bitcoin (11:41)

Raoul: So, all of these are in a nice trend channel. They go up. Anybody can buy something and hold it long enough. It’ll go up.

Jaspreet: Well, what about let’s look at housing. We could say the same thing about housing. 2008 housing crashed. Just hold it. I have too much debt. I’m underwater. My bank’s taking it from me. People are buying Bitcoin with debt.

Raoul: Yeah. I mean, I would not recommend that. But housing’s different because you can endlessly create more housing and we have a demographic problem in housing that makes it more complicated. Demographic problem is everyone’s leaving the cities now. The generational gap. Nobody can afford the boomer houses. We don’t have enough cheap housing for young people. People are relocating moving around. So we got a very interesting mismatch in real estate now. That makes it more complicated than it used to be.

Jaspreet: Absolutely. And I do want to say I think the part that we fundamentally differ is not that there’s value in crypto. I own crypto, but the difference between you and I is you are all in crypto. For me, it’s a speculative piece of my portfolio.

Bo: I have a lot of friends and a lot of people I interact with that they own crypto. They have positions in crypto. I’m not going to fight them on that. No differently than I would fight someone who wanted to have an allocation to gold or to silver or whatever, collectibles or wine. To go all in on it. I would have the same reaction as someone else who is all in on collectibles or wine or gold. I just don’t know that’s the prudent way to build for a financial future.

Humphrey: What do you think about what he said about the housing and how there’s no more housing or we can create infinite housing or something like that?

Bo: Well, that doesn’t pass the sniff test. I don’t think we can create infinite housing and I think a lot of areas that’s not something that is possible to do. And I don’t think that what housing does and comparing housing as an asset class relative to Bitcoin as a holder of value is necessarily the same thing because one is a use asset. One is theoretically an investment asset. So I think you’re mixing and comparing those. It was interesting. The conversation started on real estate and then went to housing which housing does not represent all of real estate. Those are even two separate things that I’d want to bifurcate before we had the conversation.

Brian: I’m not against Bitcoin or any of these cryptos. It’s just that I think that it comes off as way too speculative for me to take it completely seriously. To Jaspreet’s standpoint is I think it’s more of a speculative play that I wouldn’t want to be more than 3 to 5% of my total portfolio.

Humphrey: I would be careful of listening to people on the internet say that the only way to generate wealth is through a speculative asset because you don’t know what their financial position is either. I don’t know what Raoul’s financial position is like. It could be that he built his wealth. Yeah, he could have built his wealth off crypto or he could have been already wealthy and then now is saying to younger people, hey, you should invest in this because this is the only way out of poverty as he says. But I don’t know Raoul that well, but he was very cordial in the conversation. So, I do want to at least give him respect for that.

The $20,000 Cup of Coffee (14:30)

Humphrey: Bitcoin does produce 145% return since 2012, but in 2012, no one knew how to buy it. I bought it on some random sketchy website. I got this like, you know, this string of characters for my wallet and I try to buy, you know, I try to buy a coffee at a cafe in Palo Alto and I didn’t know that Bitcoin transactions took 30 minutes to go through. So, I sent Bitcoin twice for a $5 coffee. Now, keep in mind this is 0.1 bitcoins, right? This is $10,000. I sent it twice and they didn’t get it. And guess what? I still had to pay for the coffee with my debit card.

Steven: So, where do I go? You spend what? $20,000 on coffee?

Humphrey: I spent $20,000 on coffee. Yeah, that could be the title of this video. I do, I try to break the fourth wall here. This could be the title of this video. But that is a true story. I was actually looking at my email this morning to see when that was. It was actually 2013, December 2013. I bought $100 worth of, actually what I did was I bought $100 worth of Ripple Labs. So if you’ve heard of Ripple, the cryptocurrency, about $100 worth. I was trying to convert it to Bitcoin. I was able to convert it to Bitcoin. And at that point, I think Coinbase was just getting started. So, I had the receipts. I sent .124 bitcoins to this random wallet address, which is the cafe in Palo Alto. And the person on the other end of the register had no idea what was going on. They’re like, “Oh, I didn’t even know we could accept this.” Because nobody was paying with it. I was kind of like sad. I was like, “Oh, look. I got a hundred bucks.”

Bo: It is a $20,000 cup of coffee.

Humphrey: Yeah. But that’s the other thing is that in 10 years it could be a $50,000 cup of coffee or it could be a $1 cup of coffee. We don’t know. And then the other thing is that the 145% annual return that you know one of the gentlemen is talking about is contingent on the fact that I held it since 2012 and that I knew how to buy it in 2012 or 2011 or whatever it was.

Brian: Well, and humans are so good at not being emotional and just holding stuff forever. Just say just hold it. I mean that’s so much easier said than actually done because we’re very emotional creatures. That’s not the relationship people have with money.

Humphrey: Yeah. And I also want to say if somebody, you know, if you put $10,000 into something and the next week it’s at $20,000 or $30,000, you would be dumb to keep holding it, right? A lot of people would be like, “Well, I just doubled my money. I would have taken this way before I put $10,000 into it.” So sometimes you just sell it. And so hindsight is 20/20, but you can’t really forecast that.

Bo: Hindsight is $20,000 cup of coffee.

What Would You Do With $10,000? (16:50)

Steven: What about you, Humphrey? If you had $10,000, does your strategy change?

Humphrey: My strategy is a little probably more conservative or traditional. It’s probably 90% index funds. So tracking the S&P 500 and then 10% speculative. And my whole goal for that 25-year-old would probably be to get to $100,000 as quickly as possible because at that point I think they have more options and flexibility and they’re able to kind of use that capital to maybe take more risk after that.

Steven: That’s still 10 years with the S&P.

Humphrey: Well, about 7.84 years. Yeah. But that also assumes that they’re only doing the $10,000 a year. Maybe they can save and invest a little bit more. That’d be nice. But I think for a lot of people in America, if they can get a guaranteed $100,000 in 7.84 years, I think a lot of people might opt for that.

Humphrey: I just filmed a video about how $100,000 would take, you know, 7.84 years to compound, but I did come off a little bit of a smart ass in that clip, right?

Brian: I kind of loved it. That was great. 7.84 years to get there.

Humphrey: And also, my hair looked really great. I think I had grown.

Brian: I did have to do a double check. Make sure you weren’t wearing the same thing because it was a black shirt.

Humphrey: I made sure to not wear the same thing.

Brian: Glad to see it was a little different.

Humphrey: So that clip was about how to invest $10,000. So you know that’s what I said. 90% index funds, 10% spec. 10% is quite a lot still. But I think we were talking about someone who was young. So 20 or 25 years old. So what would you guys do?

Bo: I actually love what you said. $10,000. I’m going to buy some broad-based low-cost index fund ETF. S&P 500 is a great option. And odds are if I do that this year and then I do that again next year and then I do that again next year, I’m going to get to $100,000 very very quickly. Likely even faster than 7.84 years. And what’s amazing is once you hit that first $100,000, then it just starts spilling over. You reach this kind of boiling point where now the money begins growing on itself so fast that how long it took you to get to the first 100 is way longer than it takes you to get to the next 100. And then once you get to the 500, it’s way less to get to a million. And then once you get to a million, and it just continues to compound and compound and compound, which gets really, really exciting. But the earlier you figure it out, the easier it is. We say this all the time. The absolute best time in the world to start investing was yesterday. That makes today the second best time to start.

Brian: Bo, you know, I think he just gave up the ghost of what he, because he was talking about how his path is so much faster. I always tell people, be careful when somebody’s promising you or trying to sell you something that’s outside the reality of what we’ve ever experienced. And I know from my own research, and you’ve seen this from anybody who’s ever talked about money, typical millionaire is 49 years of age. It typically takes 27 years of building assets to reach that. Anybody who’s telling you that they’ve got the path that’s going to break those norms, my spidey senses would be like, “What are they trying to sell me?”

Humphrey: I will say to his defense, he doesn’t have much to sell besides telling you to buy cryptocurrency.

Brian: Well, he does, in the fact that if you are a concentrated holder of cryptocurrency, how do you make more money in cryptocurrency? You have to convince people to pay more than you paid. So he has a conflict just in that. Anybody in finance has a conflict of interest when they start talking to you about products. We do too. Look, we’re fee only financial advisors. We have to share with people what our conflicts are because anybody working in personal finance has a conflict. So if you’re a holder, a large concentrated holder of Bitcoin, you have a conflict of interest because you only can make more money if more people pay more than you paid.

Humphrey: Okay, fair point. I take it back.

The Passive Income Myth (20:13)

Steven: This word passive income.

Raoul: I know it drives me nuts.

Steven: Why does it drive you nuts?

Raoul: There’s like a passive income industrialization complex that is, I mean it is literally every millennial’s dream is. I’m going to get passive income and it doesn’t exist. We talked about property. Property is the least passive income you can imagine. It is awful. Every time I’ve tried to rent out property, there are so many costs. Everything goes wrong. It’s just endless. You’re paying fees and people think there’s a magic passive income. Everything comes with effort. There is no such thing as returns without effort. Even robbery comes with effort. You know there’s no way of making money without effort or risking something.

Humphrey: Yeah. I think I said in the podcast that dividends are pretty low effort, right? If you can get passive income, that’s pretty passive, but you need the money to start. So I understand.

Bo: And you got to pick what to buy, right? Like there’s some effort that goes into it, but certainly different than trying to go out and manage a rental property, manage a commercial piece of real estate or something like that.

Brian: I mean, when I see that clip, it’s a pet peeve of mine. How many content creators are out there talking about passive income and they always mention real estate. By the way, we own a lot of real estate. It is so not passive. If you’re doing it right, it’s not passive. All the people who talk about content creation is passive. You create content. I mean, does this feel like it’s passive?

Humphrey: It’s slightly easier than running the marathon, but it is still hard. It is still hard.

Brian: I mean, when we’ve done content on passive income, because it is way overdone out there in social media, the closest thing is probably just being an index investor. Yeah. Because then you are just point it, set it, and then it’s amazing what the portfolio can do because it’s back to don’t try to beat the market, just be the market. And we do live in a pretty fascinating, incredible time to be alive where the pizza pie is getting bigger, the economy keeps growing, innovation keeps rolling. And it’s kind of cool if you can just go buy a sliver of that and watch it grow.

The Million Dollar Bank Account (22:11)

Steven: I’ve got a friend who’s steadily compounded his bank balance over time. And I remember asking him like, “How much money do you now have in your bank account?” He’s taken a really slow approach over time. He runs a business as a freelancer. And he goes, “I think probably about a million dollars.” And I was like, “It’s just sat in your bank account.” He was like, “Yeah.” And because he’s scared like he’s scared he doesn’t know what to do with it. So he thinks just putting it in the bank account is the safest possible thing to do.

Jaspreet: Well, it’s a guaranteed loss. If you’re in the average bank account in the United States today, not the high yield accounts, but the average account is paying 0.1%, 0.5%, I don’t know, something super low. If we just say inflation is 3%. Meaning the cost you have to spend out of the bank account to buy something is going up by 3%. And that’s the reported number. It’s not the real inflation that many people feel. Well, that means there’s a net loss of 2.5% on that. So, if I have a million dollars there, that’s $25,000 of lost buying power.

Bo: What makes me so sad about Steven’s friend is that the hardest part is the saving. Having the discipline to be able to live on less than you make and be able to sock money away and put it, that’s the hard part. And yet, so many people are able to do the hard part, but then they just leave out the next step that I’m going to say is the easier part of actually putting your money to work. Because it’s amazing. If he was able to build up an accumulated bank balance of a million dollars, it would be wild to see had he been investing that in low-cost index funds, low-cost investments, what that could have turned into or how much more quickly it could have gotten to a million. They did 90% of the hard work but just didn’t quite finish the drill, right? So, you have to do the full hundred.

Closing and Behind the Scenes (23:43)

Brian: Humphrey, we have loved having you on the show today. If people want to know more about your content, where can they go find you?

Humphrey: Yeah, you can look me up on YouTube. It’s Humphrey Yang or just go to the description below. Hopefully, I’ll be linked there. And perhaps this is a collab post as well, so you can click on my channel there. And also, fun fact, we filmed for four hours for that podcast and it was cut down to two. So, you missed a lot of back and forth between the two other gentlemen and I was struggling to get some words in there, but hopefully you got a lot of my words in today.

Brian: Any other kind of behind the scenes?

Humphrey: Yeah. So, like while you were shooting the podcast, what’s really cool is they have a photographer come and take photos of you while you’re shooting it. And then at the end of the podcast, they print out a book, a bound book of all the photos of you on the show with the quotes that you said on the show. And then the bound book gets passed to Steven, the host, and he signs it and gives it to you as a parting gift. And that’s a really great parting gift. Makes me feel really good about coming on the show. So, I will see you guys after this show and I will expect this book from you.

Bo: It’s so funny you mentioned that, Humphrey. We have a gift for, I’m kidding. We don’t. It’d be awesome if we did that.

Brian: Let me get you a signed copy of Millionaire Mission right now.

Humphrey: Oh, I would like that. But we were talking about this at lunch, so that’s why I just wanted to bring up the story again.

Brian: You said something though when we were sharing and I don’t mean to pull more behind the scenes. Maybe were they, you said pumping air. So I immediately got a visual. Are they like cold air or laughing gas? What type of air are they pumping on you?

Humphrey: So the cognitive function can happen more. Yeah. So I guess you feel it or you smell it. It’s kind of a unique thing. You kind of hear it because the vents are at the bottom of your feet and you kind of feel it on your feet. You know, it’s something I kind of notice because I remember I was filming, it was a little hot in there and then all of a sudden the air turned on. I was like, “Oh, this is nice.” And then I got a little bit more cognitively alert.

Bo: So funny. You said laughing, are they pumping O2 in like divers? Are we pumping laughing gas here at the Money Guy? Look, he’s laughing already.

Brian: Messed it up. Thank you for coming on today. Absolute blast. I love collaborating. I love when we meet other people. You can tell you have the heart of an educator and I think we are helping the world become a better place. I’m your host, Brian Preston, joined by Bo Hanson, of course, Humphrey Yang. Money Guy Team out.