We had a question for Jordan. They want

your take on the war. Everything else is

noise until that gets resolved according

to Letharaga.

>> Yeah, I mean, I'm not a war analyst. I

don't really know what's going to

happen. I just know what's already

happened. What's already happened is a

severe disruption in oil flow from the

Strait of Hormuz. And so my only real

opinion is I don't think that's going to

resolve anytime soon. And even if it

were to resolve today, I think damage is

done. And so my only trade in the whole

thing is got a little long USO, but you

know, I could be I could be wrong. Who

knows? With the war though, somebody did

mention in the comments a little earlier

that a helicopter like a US helicopter

was shot down in the strait. Yeah, I

didn't even know about that. I have had

my head in the sand. And Trump wants to

respond over it. Well, I mean, this this

is the kind of stuff that just keeps

this thing going on for indefinitely.

>> So this is generally good news for

investors if you're not over leveraged.

You you want the market to drop on stuff

like this, right? We've we've said this

time and time again. We all have stocks

that we love. We all have sectors we

love. We have things that we have

absolute confidence in, whether it's

Amazon, whether it's Nvidia, Micron, the

AI infrastructure trade generally. We

have tremendous visibility into how AI

is going to play out, I think at least

over the next 12 to 18 months with spend

levels. The one concern is that people

are borrowing too much money to spend

with infrastructure, but those

infrastructure trades in my eyes are

pretty solid and I would love to see

them drop and open up some opportunities

so we can all get deeper into our

favorite AI infrastructure trade. So I

love stuff like this. It's painful to

see your account get crushed in the

short run, but the war won't go on, I

hope, forever, right? Like at some point

>> Well, I mean, I don't think the war will

go on, but it's not like, let's say that

the war stops today, everybody stops

firing, what then? So, Iran's not just

going to open the strait and be like,

oh, everything's fine, right? So, does

it even matter if the if the war keeps

going on?

>> Wait, why would they not open up the

strait?

>> Why would they open up the strait? They

know that it's hurting us and it's it's

a leverage for them to get what they

want.

>> The war won't end unless the strait

there's an agreement to open up the

strait.

>> But, why would they open it up unless

the United States starts conceding

certain things? Monetary rep All sorts

of things, right? Because they know the

United States isn't going to do a

military campaign. All we can do is

strategic strikes. So, the longer they

can hurt us financially, the longer

they'll keep the strait closed.

>> I just know the the incentives on our

end are to end this before the midterms.

That's all I know. Period. So, I don't

know if that's happening in 2 weeks or

in in 2 months, but there are some

pretty heavy incentives and you know, I

when it comes to macro stuff, I always

invest where the incentives lie. The

incentives almost always, maybe always,

play out.

>> Yeah, the incentive for us is for it to

open up, but the incentive for Iran is

to let the pain con- continue.

>> I think Iran will Listen, they they want

something, right? So,

>> Yeah, they want something. They I mean,

they they've listed their demands.

They're totally unreasonable.

>> So, Jordan, are you saying that you see

a scenario where this goes through the

midterms because they're not going to

agree to anything we will offer them and

therefore

>> No, I'm I have no I So, first of all,

no, I have no idea how long it'll go on.

I'm just saying damage already done,

right? Even if you open up the strait

today, which is not going to happen.

>> I don't care about damage already done

because we're in the middle of the

biggest super cycle in of human history.

>> Yeah, I don't think you realize the I

just don't think then you're educated to

the impact that it's had on oil supplies

across the world.

>> I'm not sure you're educated to the

impact that the AI super cycle is going

to have over the next two decades and

the market is forward-thinking. So, even

if we have tremendous pain over the next

2 years, 3 years, the market will think

5 years out, 8 years out, 9 years out. I

just think this is more important than

that. So,

>> Yeah, I mean, I I I just Well, if it's

that important, I I don't see us taking

steps that reflect that.

>> You're right. I don't know what the

hell's going on behind the scenes. I

This administration, it's I can't even

imagine. Is anything even happening? I

don't know. I just know at some point at

some point someone has to be having a

real conversation with someone who can

make a decision over there. And I would

have to imagine that we might get close

to a deal at some I don't know how the

hell it's going to happen. I'll I'm with

you, Jordan. I do not have a clue how it

actually happens.

>> We don't even know if we're talking to

the right people.

>> But [laughter] it has to happen. This is

the craziest [ __ ] I've seen in my life,

guys. 4 months of these

The war ending 10 times every weekend.

We have a deal on Sunday night.

>> I love the clips back in.

>> But the thing is that there's no deal,

right? It's It's all made up. Like the

there's no truth behind those claims

from what I've seen. Again, I could be

wrong about that, but it just seems like

there's actually no deal.

>> The main strategy is just promise that

the war is going to end and keep

promising.

>> have an Axios report that makes a claim,

and then the market goes up, right?

>> It's crazy, dude. It's like

It's It's happening like every week,

dude.

>> [laughter and gasps]

>> And it just never ends. It just

literally never ends. I've never seen

anything like this before.

>> We're going to have a 5-day pause, and

then we're going to have a 2-week pause,

and then we're going to have a 1-month

pause.

>> Yeah, and we're having a pause, and then

Iran starts shooting missiles at Israel,

and then a

helicopter goes down.

>> Both sides are still like combative

during the pause. Nothing makes sense.

That's what We just Nothing matters.

Nothing makes sense. That's my new

slogan.

>> You know what? By the way, it's

summertime. I just wrote cuz my kids are

out of school, and I just don't want to

think about this stuff every day. That's

I I that's the main thing. I just really

don't. We have been trading so

aggressively throughout the entire

course of the last year since last fall,

the AI trade that just never ends, all

of the roller coaster ride that we've

been on with Amazon. Oh, [ __ ] dude, I

just need a god damn break. I need a

break from the Iran war.

>> There's a great Tik Toker or reel or

something where is a dude who basically

is saying, "I don't even want to know

what the Strait of Hormuz is, and the

fact that I've heard of that is a

problem. The fact that I know that those

words is a problem."

>> I know, man.