A man proposes with an NFT and, surprisingly, it doesn't go well. Skippy and Doogles get some listener mail that has Chamath Palihapitiya podcasting his way back into Skippy's psyche — this time through a criticism of investing in Alibaba. This takes the conversation back into China and all the continuing happenings over there (e.g., risks of VIEs, video game restrictions, corporate "donations"). Skippy calls out the Renaissance Technologies billionaires that got hit with a massive $7 billion tax bill, and then gives a shout out to a recent Lex Fridman podcast that did a great job of covering blockchain and Bitcoin. The episode wraps with a discussion of SEC Chairperson Gary Gensler putting banning payment for order flow "on the table."

Skippy kicks off with all the excitement that's currently surrounding Alibaba's stock. Doogles turns off the excitement by talking about the audit industry. Skippy continues the ongoing conversation around wealth inequality through a recent report "From wealthy enclaves to asset deserts" put out by the Economic Innovation Group. Next up is the the rising debt in Japan, which is now nearly 2x Japanese GDP. The episode wraps with a discussion of Ted Weschler's $264 million Roth IRA, and Bobby Hundred's commitment to driving street fashion into the metaverse through NFTs.

ISAs continue to be a hot topic in listener mail! Someone writes in to call out Doogles and his declaration that ISAs are debt. Then the conversation flows to investors as hedgehogs or foxes, an important concept when looking at the money losing stories chronicled in a recent Institutional Investor article, “How Millennial Investors Lost Millions on Bill Ackman’s SPAC”. Doogles uses this opportunity to bring up Michael Burry's bet against Cathie Wood's ARK Innovation ETF. Skippy raises Alibaba as a hot new investment from some very respected value investors, and how part of its recent decline comes from Jack Ma's political missteps. And the episode wraps with Coinbase's recent announcement that it's buying $500 million in a variety of cryptocurrencies.

Things start off with some listener mail, adding Income Share Agreements (ISAs) to the conversation about the hidden costs of some types of debt. Then Doogles celebrates continued evidence of bi-partisanship in the government with the passage of the infrastructure bill in the Senate, and the introduction of a new bill (FRESH START) that aims to make it easier to discharge student loan debt when declaring bankruptcy. The conversation moves on to discuss large investments by private equity firms in mobile home parks (in a never ending search for yield), and whether asset-based investment advisor fees are justified. The episode wraps with a chat about an investment paper on genetics and investment bias, and a solid Chris Dixon tweet storm on Webt 3.0 and take rates.

Doogles comes across an inverse ETF targeting ARK innovation — never did we think we'd see an inverse ETF targeting a specific fund manager, but here we are (should we get in?). Then Skippy runs through the list of the most valuable teams in the NFL, according to Forbes. Doogles digs into his Nerd Alert fishbowl to talk through a recent research paper called "Selling Fast and Buying Slow" from the National Bureau of Economic Research, which analyzes the buying and selling behavior of a large number of institutional investors. Then the episode wraps with an overview of "Go Big Then Stop," a recent blog post on Of Dollars and Data, and a discussion on the rise of buy now, pay later companies like Affirm, Klarna and Afterpay (getting bought by Square).

Doogles leads off by talking about how Martin Shkreli uses a rare Wu-Tang Clan album to pay back his debt to the government. Then Doogles looks at the ridiculous debacle that was Credit Suisse's enablement of the Archegos collapse. Skippy and Doogles take a trip through small town America by discussing a recent Granola Shotgun article "We'd Rather Have the Iceberg Than the Ship" — a good breakdown of how chasing the shiny and new is short term thinking. Skippy discloses his new CEO crush on Ravi Saligram, who runs Newell Brands and enacted a no jerks policy that has turned around the company's financials. The episode wraps with discussing how brokerages make money, and the pros and cons of college football realignment.

Skippy breaks out some data from the Bureau of Labor and Statistics that shows how Americans spend their money based on age. Then, he grabs some quotes from a recent conversation on Bitcoin between Cathie Wood, Jack Dorsey, and Elon Musk before taking an unintentional jab at Doogles' recent Chinese investment woes (RIP TAL Education Group?). Doogles gets Skippy's view on whether to hold or sell when an investment gets acquired, and then they wrap with a brief discussion on solar value deflation.

The conversation around inflation continues! Skippy and Doogles discuss the state of inflation, and whether or not Bitcoin makes sense as a hedge. Then they highlight two South African teenagers who started a crypto investment firm, and allegedly ran away with the money. Sticking on the crypto train, they talk through Dogecoin co-founder Jackson Palmer's tweet rant against crypto. Next up, MSCI may be trying to create the Ultimate Market Portfolio, a portfolio representing all of the world's assets. The episode wraps by revisiting Skippy's current thoughts on Intel given their recent $30 billion bid to purchase GlobalFoundries.

Things kick off with a quiz — what company got acquired last week that Doogles calls the "official indicator of a bubble"? Then they cover Biden's most recent executive (non)order that tries to indirectly tackle competition and consumer protection. Next, they dive into China, stemming from the recent failure of Didi's IPO. Skippy uses this to revisit the failures that are America's education and healthcare systems. The episode wraps with Doogles going off on a nerdy finance rant because of his disagreement with the definition of a bear market.

Skippy and Doogles start with a dive into the excitement that is dollar store economics! These companies are money makers, and have historically shown they can do well during a recession. Speaking of recessions, the conversation then moves to how renowned economist Nouriel Roubini (aka, Dr. Doom) is saying that this next recession is going to be huge. They then discuss current outsized US investor expectations (i.e., US investors are expecting 17.5% go forward annual returns...) and how Robinhood's recently released S-1 shows it's at least partially fueling this nonsense. They wrap with an investing checklist and some hits from a great recent interview of Marc Andreessen by Patrick O'Shaughnessy on his podcast, Invest Like the Best.