Lady Wombats will be facing tonight at the UWS Field House, the Marinette Buccaneers. And we're just ready for the tip-off. And a very quick game start here. Considering the referees just showed up. This is Kerry Coucher, by the way, announcing with Andy McKillip, and Brian Andrews on camera. Ball one-out bounce on that play. Number 24, Sandy Lozal. Passes it to number 20, Sarah Erner. Why don't you go through the lineup for the Wombats? Sure thing, Kerry. Number 10 is Abby Eyring. She is from Kiel, she's a freshman. Number 20, Sarah Erner, she's from Plymouth, she's a forward, five-eight, first year. Becky Kiesinger from Moosburg, five-eight. Becky just scored. Sandy Lozal, guard five-six out of Kiel, she's a freshman too, and Stacey Lakowski. The lone sophomore on the team for Clement. She plays center. Erin Niles, Lana Ethel, Jenny Schauder, all bench. Lakowski, number 10. And as Abby Eyring brings up the ball and passes it off to Sarah Erner, number 20. Kiesinger passes inside to Erner. Oh, missed the three-pointer. Marinette's taking it down. I thought you were going to do the color. You can do the play-by-play. You're doing a good job so far. 22, Ashley Castareva. 34 is going to take the shot. Just misses the three. Nice rebound by Marinette. I hope the foul will fall. I'm not sure who the foul was on. I believe you'll be Shaboy. You want to mark a score for Becky Kiesinger on your score sheet, so we can get caught up here. We haven't gone in through the lineup for Marinette. We have number 10, Jenny Martin, number 12, Marcia Makowski, number 14, Ashley Moberg, number 20, Amanda Hilton, number 22, Ashley Castareva, number 34, Lindsay Gurgel, and number 42, Natalie Shapura. We're looking to sink second shot. Falls out of the hoop. You're going to be Shaboy and taking it up court. Abby Eyring takes it inside, passes off. Sandy Luzal, ball tipped up by Marinette, number 14, Ashley Moberg. So number 22 had that last free throw. Score is two to one. It's almost like a volleyball score here. Eyring takes it, tries to shoot it. Throws it back, it's stolen by Marinette. Number 14, Ashley Moberg.  Pass a little high, number 22. Marinette, Ashley Castareva. Back to Marcia Mikowsky. Steal by Kissinger. She's going to take it to the hoop. Just misses, Eyring on the rebound and shot. Four-one, you'll be Shaboy, going over Marinette. You're marking those? This is inside. Another Aaron pass. And a turnover for UW-Marinette. Marinette comes into this game two and all, and the Wombats are one and all. Kissinger's in the pinch. Block by Castareva. Mikowsky's taking up court. Marinette's running their offense. They have to bear in mind, folks, this is the first time for Andy and myself announcing basketball. Mikowsky on that rebound. So we don't have all the terminology that Mike Martin and Chris Wright have. Years of experience. Eyring passes into the cause. Well, we do have a ace camera man. Eyring takes it inside the paint and she scores. Six-one, UW-Shaboy again. First treat, it brings the ball up. Nice running hook. Missed the shot. Eyring gets the rebound. Oh, they keep calling her on player here. Nice dribbling by Eyring. Passed inside of the Kissinger. Kissinger is fouled. It's the bottom of the ring. But where do they call? Well, she is going to the foul line. Push on the play, she gets two shots. UW-Shaboy again's first free throws of the game. You recall who the foul was on? I do not care. Number 20. I believe there was a foul on the other end. Self-permarinette, number 34 comes up. Who's the foul on that end, you know? 36. Kissinger misses the shot. Marinette gets the rebound. Reach on UW-Shaboy. The score is 6-1. Wombats. Amanda Hilton. In college basketball, we play two halves versus quarters for high school basketball. And the halves... Towsky taking up court. She gets it off to Ashley Moberg. She loses the ball for a second, UW-Shaboy again. We'll be out on them. I believe the halves are at 18 minutes. We'll say they're 18 because we have 15-42 on the clock. Sounds good here. Ashley Castrava misses the shot. She got her own rebound, shot it again. Followed by Kissinger. She'll go to the line. She seems to be either go-to player down low. Castrava misses it. It's up for UW-Shaboy again, number 42. Aaron Niles comes in for number 30, Stacey Wachowski. Aaron Niles is one of the players along with Eyring and Kissinger were from the volleyball team. They had a great season. Castrava makes a second free throw. Niles throws it in, the heavy Eyring. Kerry, the UW-Shaboy again team seems to have a little more height advantage against UW-Marinette. They seem to be a little more, at this point, more aggressive also. I don't know if it's... Marinette had a 2-0 in 15-minute bus trip here from Marinette, and when they got here, there was also another probably good half-hour delay waiting for another referee to show up. If it's weather-related, we did have some snow flurries tonight. Wind was pretty fierce out there as well, I know. I know I had to carry extra weight in my pockets just to keep me on the ground. Lazzala takes it over to Eyring. Erner takes the ball, loses control of it. Takes it inside a little bit. Can't find anyone open. She takes a shot, and she makes it. Nice. From the corner. 8-2, UW-Shaboy again lead. Marcia Mikulski brings the ball up. Control, UW-Shaboy again ball again. I haven't been marking the turnovers, but there have been... Quite a few for UW-Marinette, or... They're just, they're... Passing is not crisp. Erner gets the ball back, looks to shoot, takes it inside. A hip check. 1-2, oh. Substitution for UW-Marinette. Number 42, Natalie Shapara. Followers on Jenny Martin. Erner throws it in, number 42, Erin Isles. Takes it side, gets it back out to... Erin Eyring, she nearly lost the ball. Oh! Stopped the rim. Marcia Mikulski taking it down. Eyring ready. Pen was wide open on the pass. Nowhere to pass, nowhere to shoot. She finally gets it off, number 12, Mikulski again. Knowing women's basketball, they have... Another turnover for UW-Marinette. They've had quarters to do already, you know. As we mentioned earlier. Ooh, nice pass. Niles takes a shot, just misses. UW-Marinette gets the rebound. They're running up the court pretty fast, looking to score it there. Nope, another turnover. Passes at her feet. At this point, the Wombats get set up on defense right away, and making it difficult for the Buccaneers to get anything going. And from what it looks like, they do a 1-3-1 defense. Number 24. Sandy Lazzau just missed it. You'll be Marinette, takes the ball. Number 10, Jenny Martin, she's fast. She gets all the two points for UW-Marinette. Timeout. Only down by four now. Timeout Wombats. Full timeout. We can keep it right here. I believe UW-Schaboying will be making a substitution as I saw Jenny Schaar get commands from coach. We didn't announce earlier, but it is coach Penny Maletski. And the coach for the Marinette Buccaneers is first-year coach Randy Kenig. And I asked him if he had anything to say about his team. He said it's too early in the season to say much about his team. But I think he has, right now, they have good numbers. Whereas the Wombats have a couple of players that are just here for this semester. And then next semester, they're looking for some more players to come in. And just to mention that this is our first game, by the way. And we have at least 26 more in the books. And our next game will be on, I believe, it is the 24th of November. Not sure on the date. Number 54, Jenny Schaar does come in. UW-Schaboying holds on to a four-point lead. Just a little over 12-30 left in the first. I know coach, you gave me so many different sheets of paper here, it's hard to keep track of all the scoring. Almost a nice steal by Marinette, that's number 14, Ashley Moberg. Just can't quite grasp the ball. She's looking ahead, run down the court, it looked like, before she was focused on getting that ball. But Marinette gets it again, almost loses it. Coaches upset about the call, Marinette coach, that is. And I think it might have been right there. She was touching it right before it went on. To me, though, Kerry, it looked like Marcia Mikowski. And even though she even lost the ball yet, she was just standing there as the ball. Nice pass, the Kissinger sound low. In for a nice bank shot off the glass. UW has a 10-4 lead now. Jenny Martin's crowded. Almost a nice steal by Erner. Marcia Mikowski gets a two. Yeah, we were watching her earlier in the warm-ups. She has a very nice shot just about anywhere in the court. Could be their go-to player. They will lose the ball on this, Marinette. Sarah Erner with a nice steal. Nice concentration on her part. Jenny's shot looked open, just gets it off the Kissinger. Lose the ball again, but Marinette almost loses it. Slippery ball tonight, huh, Kerry? Yeah, almost like the Monday night game with the Packers. Must be a little moisture in the air. Erner thrown to the court, gets back up. UW Shaboying gets the ball. And that's what you like, one shot. Jenny's shot, first touch of the game. Erner takes it inside, she gets the two points, it's 12-6. Nice little inside move along the baseline. We're getting terminalality down here. Just when we got used to announcing volleyball and football, that season went by very quickly. Jenny Martin on that play. Mikowski takes it inside, can't quite make the shot, can't get the rebounder. Erner got the rebound on that, Erner takes it before. Pass a little ahead of Niles, but she manages to get it. Kissinger gets the ball, takes it inside. Just off the rim, Jenny's shot. Gets the runaway ball, gets the ball again. Can't find someone to pass through, erring. Just a little bit of block on that shot. Three people around her, Kerry. Mikowski looked like a little press there by Erring. Yeah, they had the defense set up very well and stacked it in. 42 Shapard didn't quite look great for the pass, but she got it. Now Marinette's starting to run their offense, swinging the ball around. You didn't even have a chance to touch it. Shapard just misses. That wasn't quite the result they wanted, but time out. Wombats, score at 8-32 in the game is 12-6. Wombats, I don't know what we can say here, but we'll keep it right here. That's their second time out, Kerry. All right. That's what we can say. Glad you can keep track of that because I'm not. I don't think the, has the other team called the timeout? I don't believe so, no. And we have 20s and 20s. The other ones must have four full timeouts. Well, sounds good to you, right? Yeah. If you say so, we could say whatever we want tonight, right? Well, let's get around it. We'll teach you as the other announcers the skip of night. Of course, Mr. Martin, he's tuning up his voice for the St. Dominic's Choir tonight. It's his Choir night. Not quite sure what Chris is doing. Niles takes it inside. Marinette, a little aggressive on that play, but traveling on UW-Schwogen. Oh, right now they're not calling a lot of fouls, and that's one thing we like to see keep the game flowing. Jim Lindsay, the ref they called in, I wasn't quite expecting the call game tonight, but here he is, officially in crew doing a good job so far. The other referee is Chuck Rogers, who was frantically on the phone for about a half hour trying to find someone that would be available. Nice, Ginger loses the ball, UW-Schwogen sets up their defense. Marinette slows it down, and the Hilton has the ball. Natalie Shapara just missed it. Another miss. They aren't getting any second chances. Wombats are always right there for the rebound. Coach says they were in a zone, a little bit of a breakaway. Kaliske passes Shapara, Shapara gets the two points. Nice assist. Nice defense, a nice turn around on the offense for Marinette, only down by four. It's 42. Can't quite find someone open, gets a peck to Irene. Irene takes a shot from the paint, and she makes it. I believe that's her first points of the game. It is. Kaliske went out of bounds. That was from the high post position, she took that shot, a little jumper, I didn't catch what they called. Out of bounds. Out of bounds. Sharp eye you are. UW-Schwogen just sort of smothered Marci Makowski on that last play. Blocking and jump ball between Aaron Niles and Amanda Hilton. Say no more. Shapara almost loses the ball. Nice pass inside, number 20, Hilton can't make it. Niles throws it up court, stolen by Makowski, she's going to slow it down. Very close to traveling. Shapara takes it up. I think the pace is starting to pick up. Both teams a little lethargic probably after the wait. That would be her. Kissinger looks a little injured on the play however. Probably just got a little bit of wind knocked out of her, but there will be a substitution. Stacey Makowski coming in for Becky Kissinger, and that was the third foul on Kostrova. That's what they have up on the board. Is that correct? Not sure. Shot takes a shot, air ball on her. Yes, check with the official scorer. Three fouls on Kostrova. That's not good for Marinette. Aaron comes in for Makowski. I'm surprised they aren't taking her out of the game. Kostrova, Kostrova. That's why she isn't being taken out of the game, her leadership. Nice assist. Marinette only down by four now. Aaron gets a lasage. She can't make the shot. UW Sheboyin gets a rebound though. They're fighting for it. I knew it was Sheboyin. That's unfortunate. Great effort on UW Sheboyin. Did you see who scored down here before? Was that 34 or 42? If it was 42. We'll go with that. Sounds right. Hilton passes it. Gerrero makes the shot. Bomb. Was that a three pointer? No, not quite, Kari. They're only down by two now. 14 to 12. They find the open player. Gergel has four points. Nas takes it in all. Falls to the court. Misses shot. Marinette's going to... Push in the tempo. Kola makes another great shot.  I think that might have been a three. Nope, two pointer. And this game is tied. 14 all with 351 in the first half. And there's a foul by... 42. Natalie Sheparro. It can't be four fouls on her. Kissinger is coming back. Kissinger with the ball. Fight for it on the floor. One. UWS ball. 13 on the shot clock. Coach Molesky screams out to her team. They're going to have to shoot it soon. Werner takes the shot. That might be three. Bomb. Three pointer. Yep. 17-14. UW Sheboyin. Great play by Werner. You're marking over there. It's too hard to do. Foul on. Natalie Sheparro. Two shots. Number 20. Hilton's shooting. Makes it first. Oops. Misses a second, but nice rebound by Marinette. Castareva takes a shot and she makes it. It's a tied game. 17 all. Usually it's not a good thing to miss your second free throw, but Marinette took advantage of it. And Werner makes a shot now. I believe Werner's been scoring the majority of the points for UW Sheboyin so far tonight. She scored the last five. Yeah, we're not keeping track of that, but... That's your job, Andy. Keeping it in my head. You are? Hilton misses a shot. 34 against the rebound. Castareva passes it off to Molesky. She just misses. Nice rally by UW Sheboyin at the rebound. It was always open down the core, but Aaron just couldn't quite see it. Bomb by her Niles. Drives a bank shot. Marinette's taking up core. It's a two-on-three. Traveling. UWS ball again. Wombats lead the Buccaneers, 19-17. Marinette takes a shot and she makes it. UW Sheboyin's getting a hold of the lead again. 21-17. Marinette with a nice rally, but they're losing it now. Castareva... It's got to be careful. Can't get another foul. Another charge and she fouls again. Is that her fifth or...? I don't know. Scoreboard's saying six, but I don't believe that's true. No, that's the total fouls. Team fouls. That was her fifth, as the scoreboard chose me now. She has to be coming out, I would think. If that's her fifth. Is that her fifth? That's her fifth. Second. Scoreboard said five. That could be two fouls for UW Sheboyin. Oh, I see it says two. Two seconds. We'll get it straight here. And... She says take that. I'll foul, but I'll get a two-point bucket.  Niles takes a shot. Misses. Marinette with the rebound. Hilton takes it up court. Passed it to Mikowski. Back to Hilton. Hilton almost tried for three. Kastreva, she'll get the two. She's been their top go-to players. There's a bomb. Kerry said earlier. I believe she has six or eight points unofficially. Good thing she only has two fouls instead of five, huh? Yeah, that's team fouls. Good thing we're not keeping track of it. Yeah, we can't do everything here. I'm just trying to get caught up with this scoring. Let's all throw it in. And we'll... Niles gets the ball. On the in-ball play. At a half-time, we'll get the scoring. Checked out. Earnhardt takes it inside. Just got a free shot. Just misses. She gets it on the rebound, though. Ooh. A lot of fighting for the ball, and that'll be traveling. And she hits the hardwood. This game is tied. 21-21. With 16 seconds to go in the half. Earnhardt's got to take this shot soon. Hilton. Mikowski. Short. Just misses it, and the clock will run out before... Get another shot. Tied score. Half-time. 21-all. And we're going to take a short break here, and we'll be right back for the second half. Sometimes I feel like other girls. But sometimes I don't. I can't write, or play sports, or sometimes I can't even ride bikes. It's affected my wrists, my knees, and my ankles. I'm Amanda. I have juvenile arthritis. Take control, and log on to arthritis.org. We can help. These turbulent times let us not erode our liberties, for they make America a beacon of hope for all to see. 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What we as citizens can do in our community to stop the flow of methamphetamine is educate ourselves in what's going on, be aware of what's happening in our neighborhoods, and report suspicious activity to the police department. There's a new experience around every community. There's a new experience around every corner, as you discover Wisconsin. Wisconsin, like you've never seen before. She was on camera where the score is 21 to 21, and we're going to go through the scoring before they come back for the second half for Marinette. The scoring is as the first player is number 10, Jenny Martin. She has two, and she has one foul. Marcia Mikowski, she also has two points, and one assist. Ashley Moberg has no scoring, which she had to find first half, bringing the ball down to court. Amanda Hilton had three points, field goal and a free throw, and she has one foul. Ashley Castruva has six points, and she leads the team in field goals and free throws and in fouls. Lindsey Gurgle has four points, and Natalie Shapata has four points also. And how does the scoring look for the Wombats? Well, Carrie, number 10, Abby Eyring, has scored eight total points. She's tied. Erner scored eight points or so. Both of them have one foul, so they're just about even in this game. Kissinger has got four total points. Niles has zero, Mikowski has three fouls, so I don't know if she's going to be coming back in now. Second half fouls to spare, but Niles has one foul, and that about wraps it up. And we're just about set here for the second half between the U-W Sheboygan Wombats and the U-W Marinette Buccaneers. And I'm sure they are hoping that the weather hasn't gotten any worse outside because that is quite a little ride north of here. Little ride. It's a big ride, Carrie. Well, it is November, and this time of year, you can expect just about any kind of weather. About two weeks away from Thanksgiving. We really look forward to that. Gets the ball first. Mikowski gets the rebound, where he makes a shot, 23-21. Almost stolen on that play. Looked like Mikowski was being stripped up there on that. Mikowski takes the inside shot. That was our first point. That was a great assist by Abby Ehring. Hilton passes into Kastreva, and she gets the two points. Kastreva is one of two sophomores on the U-W Marinette team. Jenny Martin, the other. Ehring passes with Kowski. Ehring with a nice effort. Falls hard to the court. And she's down. Slow to get back up. She gets back up, though. Hilton gets the two points for U-W Marinette. And they jump out to a early second half lead, 27-23. Ehring gets the ball after it looked like Marinette. We get the steal. It appears the Wombats are coming out a little sluggish here in the second half. Hilton to the shot. Misses. Ehring with the rebound. Zal's well covered. Here's the fighting inside. They're playing that 1-3-1 defense. Shot clocks down. Right now the Wombats aren't getting a second shot at all. And double dribble is called. Mikowski. That was the very first half. The first half was very fast. Brian said it was about 30 minutes on his clock. Great play to avoid the ball from going out of bounds by Ehring. Jumped out and threw it back in. Unfortunately, the shot was short. Moberg passes it off. Just missed by Gergel. Moberg once again. Marinette starting to get substantial lead now. Moberg again. It's three times she's been on the floor this half. It's plain aggressive though. Parsley tipped. Marinette gets the ball. Ashley Moberg. Right now the Wombats aren't getting any second shots. Strava. Nearly threw the ball into the earner's hands. She takes the shot now and just misses. Rebounded by UW Marinette. Mikowski just misses on the layup. Finally they get the rebound. The offense. All tipped up by Moberg of UW Marinette. The earner thought she had the shot but didn't. Now she takes it inside, takes it. It's two points for UW Shwaya. Mid-range jumper. 25-29 score. Marinette still leads. You keeping track now. Score any points?  Goes to three just misses. Marinette gets the rebound. At this point the three will get you right back in the game and Becky was wide open for that shot so she took it. Moberg to the shot and just gets it. Great shot by her. It looked like it'd be blocked. She had no points in the first half. This half she has six and the Wombats call a timeout I believe. And the score is 31-25. Marinette and Buccaneers are feeling pretty good about themselves right now. UW Shaboigan come back though. UW Shaboigan as we remember got the early lead in the first half and Marinette came back to tie it before half. UW Shaboigan no reason they can't do the same thing. Let's see what else we can do here. Let's see probably just talking about them saying don't worry about the score and trying to find some sort of new strategy here in the second half. Doesn't look like you have anything marked on there. Okay. Little scrap that idea. I'll just keep the scoring for the other team. You can just make up some numbers. Well, Erner's got 10 points now and she's leading the team. And Ashley Kostriva has eight. Stacey Lazao coming into the game for and here comes UW Shaboigan at the timeout hopefully play a little more crisp. Get the score the way they want it. Jump ball. Now if you miss the shot we'll try for the jump ball. Kissinger has been getting the opportunities for the three. That's her second miss one but it shows something that she's getting opportunities and hopefully they can start making those. Oh, it looks like Marinette has three people going for the rebound every time. Drabbling. Kind of a crummy pass by Lazao but kind of crummy dribbling by a little out of control. Think she was thinking about two points. I think so too. Zog just misses. We have a foul. Number 20 Amanda Hilton. That's her second. It's not a shooting foul. Niles goes for three. Just misses. Sooner or later they're going to connect. That'll get them right back in the game if they can hold them here. I think Marinette opens on the outside. Girville just missed the three. Nice rebound by Hilton. Koski gets the second rebound. No three. UW Sheboyga and they still have the ball. Quite a lot of action on that play carry. Ehrner comes back into the game for Sandy Lozzi. Sounds about right. Whatever way you want to put it. Lozzi away. Looks like we had two substitutions for UW Marinette. I see Jenny Martin is new into the game and 42, Natalie Shapara is new into the game as well. Eyring takes a shot and makes it. Finally UW Sheboyga connects. Missed quite a few shots. Score now is 27 to 31 at the 12 18 mark. Second half. Hilton for three. Just misses, nice rebound. WS gets the rebound. Pretty high-pitched tempo they're carrying. Pushing the ball up the court. Ehrner just misses. Just not dropping for them. Time out Marinette. Full time out. You can see something that we don't see but my guess is that they can notice that UW Sheboyga is pushing the ball up the court. I think they need to stop them from setting their defense. Is that your guess? That's what I see. That's my guess. They're starting to change could definitely change this game UW Marinette better be ready for it. Maybe now UW Sheboyga will slow it down again. Who knows what they'll do. They're getting the opportunities on the three as we noted and missed quite a few opportunities on other shots before. They finally sunk one but the score is still remaining the same that it has for quite some time. 31-27. They haven't been that many fouls in the game period. So the pace is still fairly crisp as it was before. Hi mom. I'll have to send a tape out to Arizona. Back in action now. Maybe she can pick this up on her satellite feed. EV8 now broadcasting across the United States, huh? That would be something. We have our truck parked outside but it's just sitting out there with the lights on. Nobody's home. Kastrava made a shot and it looks... Went down and it fouled. Are they going to count the points? They did. She's starting to be a force now. I believe she'll get one shot. Am I right, Kari? Yes. Right now she is the tallest person on the court. Had 5-10. Didn't she has? Nice steal. Number 4-2. Naly Shapar is taking up court. It's a shot and sighing. Misses. It's rattling again. Right now the Wombats are making a few mistakes mentally that are turning the ball over. I don't know, Kari. I don't think a fast-paced tempo is good for UW-Shaboygan, I mean. At this point it's not working. I think it works okay if the other team gets only one shot and misses. Once again another traveling call. It's also noticeable that UW-Shaboygan has a little less steam than UW-Marinette. They're starting to... get a little worn in UW-Marinette. Still looks like they're energized. Their passing was fairly good up to that point. Kissinger is taking the side. Perhaps there was someone there that she thought was there but just wasn't. Hilton got the steal. Kiva just lost the ball in there. Her inner is taking up court now. Shot. Here goes for 3. Just misses. Another... still in the one-shot and out. Time out. Marinette. Shaboygan's really sucking wind right now. This is an important time off for UW-Shaboygan. Now I think now's a good time as any to change this game around. What? My button? Okay. No more clicking of the pin or bouncing of the feet or any kind of rattling. Very sensitive. So our cameraman just reprimanded us. Back to the action. 9-45 in the game. 34 to 27. Marinette. A little errand pass through Kisinger. Steps right in front of the ball. Easy turn over for UW-Shaboygan right there. Her inner is at inside. They're going to make a shot here. Eyring. Looks like she's going to go for 3. Nothing.   Marinette just passing around the ball a lot. Ran out of time. Good defense. I think they just ran out of watching the clock. It's my belief. It's a good strategy though. Use up the clock and give UW-Shaboygan less time to come back here. When you have a nice lead you just run your offense and you wear the other team down trying to chase you. They don't have the legs to get the shots off. Out of bounds on Wachowski. Their coach yells in, set up the offense. Take the time and run the clock. There's still plenty of time left. Wachowski with a shot inside. Nice rebound. A little traveling. In-bomb play. W-Shaboygan gets a steal. Two points. UW-Marinette increases their lead. Seven for her in the second half. Handles the ball. Takes a shot. Just misses. They just can't buy a bucket. Must be a lid on the hoop. 7-48. Marinette leads 36-27. Start passing around. Burn that clock. And that's precisely what they're doing. Earn it with the steal. Until they get the easy basket. Didn't work that time. Now they need a hoop, I would think. Sooner or later. Foul. Followed by Marcia Makowski. Her first. And... Substitution for UW-Shaboygan, number 24. The wombat shirt just aren't getting any breaks here. Even when they get fouled It's not a non-shooting foul. It's all the new player in the game. This is a shot. How much you can say about that? Open for three. There it is. It looked like it was in and out. There's a foul. Coach is a little angry for UW-Marinette. I don't know why. He told us he wanted to give the calls. He's getting calls. He's getting calls not going. Against him. By a hoop here. Even at the free throw line. That was foul on Marcia Makowski. Her second. Niles at the free throw line and misses both of them. What to say? UW-Shaboygan's got it. Got to get it going now. They're given the opportunity to get back in this game. They just can't put the ball down. Strava takes a shot inside. Iron gets the rebound. Pushing the ball up court. You take it all the way I think. It's all for three in. There it is. UW-Shaboygan's finally on the board. Thirty. Thirty-six. Couple more of those and it will tie a ball game. Crowd goes delirious. It would be an underestimate to say those points are important. No call there. Crowd won. Marinette seems content to run the clock. Shoot with one second left. UW-Shaboygan thought the play was done. And they let him give him a free ball and he scored a point. Do you say who scored that one? I believe it was number 10, Jenny Marta. Shortest player of all the players here tonight. Five-two. Sophomore. Substitutions. And Jenny Martin comes out. Lindsay Gergel comes in and UW-Shaboygan. Aaron Niles comes out and I believe number 22, Becky Kissinger comes in now. Another three would be huge right here, Kerry. I don't know if they're going to get it. Yes, it is. Nope. We're just not getting the second shots on the missed. And Marinette will get another opportunity to run this clock down. Definitely the second half and the Wombets have been out-rebounded. We don't have that stat at this point. Shot clocks running out. They got a set shooting it. Five. Oh, a huge shot by number 14. Moberg. Three-pointer. That might be the final nail in the coffin. Could be with the 4-54 mark. 41 to 30. It's a little early to say that though. But you might be right. UWE Sheboygan has only scored nine points all game. And now they got to score 11. Nine points this whole half. Natalie Shepatta. Fourth. Hilton comes in for her fourth. I would think all. Huge play by Castrero. Nice concentration. Get the ball and she lays it in there. She leads all score with 15 points. I earn her the Kissinger for two points. She had the open shot there. Just a little over four minutes left. Okay, bye. And a timeout by the Wombats. Full timeout. I don't know what we can say right now the UWE Sheboygan Wombats need to if they're not going to make the shot they need to get the rebound. Get the second one to go down. If UWE loses this game and that's how it's looking right now go down to one and one. Last game Milwaukee Tech they beat on the 10th. They beat 59-38 so talented team but maybe they just don't have it tonight. Of course I don't know how good Milwaukee Tech is but Marinette they come into this game having been undefeated. This is a good test for both teams early in the season and for us as far as that goes we can't wait for the calls after people watching this game. They'll be judging us. At least they won't be calling us biased. Now we head back to action. This half Marinette also leads in fouls five to two, team fouls. It's stated in the obvious but UWE definitely needs points on this possession. I think over and back I'm not sure where they start shooting the bonus if that's after the seventh foul. Back court violation. Do you know? I believe yeah they did get the bonus at the seven fouls. There's a sit on the lead. Another timeout by Marinette. 32nd timeout. What other words of wisdom can we come up with? Any 60s stories for us Kerry? 60s no. 70s, 80s stories like what? The Brewers were in the World Series in the 80s. That was about it. 82. And the score guy says he was only six years old. What year was that again Kerry? 1982. I wasn't even born yet. That was our story from the 80s. Not a bad one. Shot clocks running out. Four straight with a shot. And foul. It looks like it'll be an easier ride for UWE Marinette back home. It'll be easy ride for us also. Unfortunately we have to fire up the old TVA truck. That's unfortunate. Hopefully it won't be backfiring too much tonight on the way home. People think they're under attack in the city tonight then. I haven't seen any flames shoot out the back end so we're all right so far. Pretty long. That was an NBA three. The Zodges missed it. I think right now the Wombats are trying anything to get back in this game. What their shooting percentage is with the three-pointers but it's not too good. It's pretty pitiful to have to imagine it's less than 10%. You're probably right. I think they've only made about two or three maybe. I'm thinking one. At least one in the second half. One in the first half also. Open kitchens here. Did you see your defense by UWE Shibuya? Kostreva was very quick to get back on defense. Intercept as a pass. If we had a game MVP, they'd go to Kostreva. She could be the player of the game. Looks like a pushing fold. Gave her a forearm. What they call it on Erin Niles blocking fold. That's a third for the nine? Whoops. I can't lean back any farther here. We do have an extra mic there for interviewing the player of the game. We don't have time for that. Let's put it that way. We only have one camera tonight and it's only good for 60 minutes. We are limited to what we can do. Nice three points up. Unfortunately Moabard is not limited. She hit a three pointer. Score now is 49 to 32 with 130 remaining in the game. And I think you can say it's safe to say this one might be in the books. V gets the late game steal. A little over a minute left. Kissinger takes it up court. Oh, and it didn't drop. Even up 49 to 32. A coach's job never ends. As we see UW Marinette coach Ryan Cohen. Looks like they will leave victorious and keep their defeated record intact. Kissinger made both those shots. Score now is 34 to 49 with just under a minute to play. A steal by UWS. Burner takes it up court. Looks like Kissinger's open again and she just misses. Still overlays it. Press defense. We're 30 seconds now. It's a rebound. The follow is on. I mean, why? Why foul with only 18 seconds left? It's unfortunate, but not making those shots, Gary. Would have been helpful earlier in the game. Well, I think games like these are good learning experiences for a young team. And they are that. Like we said earlier, they only have one sophomore on the UW-Shabuigan team. They have a little bit of work to do in certain areas. Referring to the Wombats. Marinette looks like they have a good season as well coming up. They look pretty solid for the first-year coach. Number one there, Ashley Cristriva. She is a very talented basketball player. I have her down for 15 points unofficially. We got 12.4 seconds left, officially. And she is a sophomore from Menominee. Some of the other cities that the Marinette team are from, Pestigo, Porter's Field and Hermonsville. I'm not quite sure where that is. With those shots, Marinette goes past 50. She's a boy and got some quickly points. They could just run it out now. 51 to 37. Marinette over UW-Shabuigan. Well, we're going to just wrap it up right here. And I like to thank our viewers for watching and stay tuned for some more TV8 sports. Our next game is on the 24th of November. I believe that is a men's basketball game here again. And they are playing, I believe, walk-a-shot tech. I sure hope we have some more announcers. We did all right. Right, Andy? We did okay. We did our best, huh? That's right. And no more clicking on the pins. But final score once again was 51 to 37. They took the score off the board. I'd like to say thank you to my co-host Andy McKillop and Brian Andrews on camera. This is Kerry Coutzer. We'll see you down the road.


Welcome back to the channel, everybody. For those of you who are new around here, my name is Michael, aka Dr. Cellini, and I'm an interventional radiologist in New Jersey recently from New York City. So on today's video, you probably know by the title, which is why you clicked on this video, I want to talk about what motivates me and how I stay motivated. So many people ask me on a daily basis how I am a full-time interventional radiologist, physician working in the hospital, taking call, how I also cranked out two videos or more every single week for three years now, how I have time to go to the gym still, how I travel like I do, and how I'm a husband. I have a lot going on, but, like, honestly, it doesn't really feel like that much is going on. I don't have a lot of free time, but what would I do with all this free time? Watch TV? That's boring. So let's go ahead and get into it, and I'll tell you everything you need to know about how I stay motivated, and maybe it'll help you as well. Let's go. So how do I stay motivated? Well, the truth is, I just love money. I'm a greedy, greedy, greedy doctor who just loves money. I was trying to be straight out. Obviously, that's not the case. That's not even remotely why I do what I do.  Whatever. Don't listen to those people. That's not why we do what we do.  So this is not a get-rich-quick scheme. I can assure you that. Speaking from experience. So some of you may not really know kind of my background or where I come from, because I think a lot of people see me on this platform and see that I'm a physician and automatically assume that I come from some wealthy family and I just kind of pranced into this being a physician role and all this stuff. But that couldn't be further from the truth.  So I actually grew up in a small town in Georgia. I come from very humble beginnings.  She went back to school when I was in my teen years and became a teacher. She teaches eighth grade science and math, I believe now still. Mom, sorry if I got that wrong. My father was a salesman. He was a chef and he had multiple restaurants as well growing up. Honestly, we didn't really have that much. We had clothes. We were always fed, but other than that, we didn't really have much extra. So for us, we had a family of five. We never really went on vacation. If we did go on vacation, it would be to like Florida or something, which is great. I'm not knocking that. That's all we could afford at the time. But I knew kind of later in my life after seeing some of my other friends whose parents were like super successful, I just wanted to be able to be like them. I think my brothers kind of feel the same way and that maybe why we're all three are doctors. I don't know, but we just have a different work ethic than some. I guess because we didn't really come from anything and in order to get to that next level of success, however you define success, you need to work a little extra harder because nothing's going to be handed to you. I think I've always kind of been working hard my entire life. I mean, even in high school, I was working starting probably like 15. I was lifeguarding. And then once I turned 18, we were allowed to bartend. I bartended and also coached swimming before I started college. And then I got a college scholarship for swimming at the University of Georgia. But even then I still had to work pay for my life because my parents weren't giving any money. They couldn't afford it. So I was a full-time NCAA Division I swimmer on scholarship. I think they paid for like 80% of my school tuition and everything and I had to cover the rest of the 20%, but that didn't include housing. So I had to basically pay my rent every month and my parents didn't give me any money. So I had no choice, but I had to get a job even while going to school, even while being an NCAA Division I athlete occupying all my time. What little time I had left, I used to work as a bartender because what better time to work than from the hours of 9pm to 4am. Those are the only hours left in my day. And I could work, you know, two or three times a week and cover enough for my rent. I would make like $200 a night and you guys are going to laugh. But back in the early 2000s, my rent at the University of Georgia, I think was like $385. So two shifts I could cover my rent and that was it. Was I tired all the time? 100%. Did it affect my performance? Probably, but I had no choice and you just kind of do whatever you have to do. I think what I'm trying to get at is I'm just kind of like used to working hard and not just being lazy. So ultimately there's one motivating factor that keeps me going all the time and that one thing that motivates me every single day is results. Because once you see results, you want to keep striving to reach higher and higher. You just keep going. It like fuels you. It fuels you. I don't know what it is. It just gives you some energy to just work harder and do better and be better and become more successful. Again, whatever success is defined by you. But I will say the hardest thing to do is wait and be patient until you get results. So I kind of break everything I said at the beginning of this video and say how I'm motivated in each of those sections. So for instance, the gym, this is like the hardest part, right? Staying on a consistent workout schedule, eating healthy, all that stuff. It's like the hardest thing ever. But again, it all comes down to results. I've always worked out my entire life. Like I said, I was an athlete and I've always stayed fit, always working out a couple of times a week as much as I can throughout my entire life. And the past year during the pandemic, that kind of slowed down. And that was the first time in my life where I wasn't working out on a very regimented, consistent basis. And like almost everybody during the pandemic, I gained a few LBs. You know what I mean? So I probably gained like 5 or 10 pounds. I wasn't happy about it. And I couldn't really do anything because I couldn't go to my gym. And like you saw in my previous video, 4.30 a.m. routine here, I like to get in and just hammer out a workout and sweat. If I don't sweat, I don't feel like I accomplish anything. And I like specific workouts. So without being able to do that for the pandemic times, it really put a wrench in my plans. What's that? I really wish Toba Chico would sponsor me. It would save me a lot of money. Anyways, so for me, this is very recent thing now. You know, I was eating poorly, wasn't working out during the whole pandemic. And then all of a sudden I came to New Jersey and I was like, all right, let's turn over a new leaf here. It's time to really get the pump back on, you know? So join that gym and have been crushing it. Absolutely love it. I feel so much better. And I've actually gotten a lot slimmer in the last month or so. Once you see results, you just want to push it harder and harder and harder. And that's exactly what I'm doing. I'm results driven and most people are. It's like human nature. So let's talk about being a physician. What motivates me in being a physician? Well, I finished all my training, which is good. And now here I am. I should be like on this uphill ride and now I've made it. And you should just plateau out, right? Wrong. Because again, I'm motivated by results. So you're like, what kind of results do you see in medicine? Well, funny you should ask. I have trained and I've learned a specific set of skills that allows me to help people and save their lives a lot of the time. So when I see my skills that I've acquired over my time of training that I spent all these years doing and apply them to a patient who does extremely well with one of my procedures or the skills I've learned, that is all the motivation in the world. Being a physician is a very thankless job a lot of the times, but it only takes that one person to thank you to like keep you going for like two years. So I probably do, I don't know, out of like hundreds of procedures. Nobody really says thank you. But there's always that one person who you do like the simplest thing for and they love you, they thank you, they hug you and they're the happiest people in the world and that's what kind of keeps you going. Again, humans are results driven. So when you see results, you just want to push harder and do better. So when I help a patient out and they're very thankful for it, I just want to do better. I want to do it for more people. It's like a high. It is a high. You feel like a sense of euphoria because you don't really get thanked by a lot of patients but when they do, it means the world. Trust me. I'll give you an example. I was doing a floor procedure on a patient the other day and they have had concerns for this issue. I can't really talk about it because of HIPAA but they've had this concern for this issue for like a year now and I think they said they went to 10 different doctors and they all said they were crazy but then I diagnosed them with exactly what they thought they had and they were the most thankful people for me showing them that they're not crazy. They're like, oh my God, I'm not crazy. They're like, can I give you a hug please? I'm like sure. That kind of motivates you and keeps you going. That's just part of it. Those who are in medicine know exactly what I'm talking about. So what about YouTube life? What motivates me in YouTube? I don't know. I think it's kind of like a creative outlet. I started out trying to just see if I could do it and slowly, slowly. I mean we're talking over like a year's time here. I finally built up an audience and people started watching it and people liked my content so I kept creating more and then you get a taste of results, you get the ad revenue and then you get people loving your content and you see both of them rising and you don't want to let yourself down A because you're doing well on your platform and doing well financially and all that stuff but also a lot of people enjoy your content so you don't just want to stop it immediately. You want to like keep it going and the more you keep it going the more results you see and I don't know, it's fun. But YouTube for me has always been a creative outlet. It's never been like work. It's not work for me to sit down here and give my advice and tell people about the side of medicine that they normally don't see. It's fun for me. It's cathartic. It's cool. I get to be creative and do my own videos in my own way and it's just something outside of my normal job and it makes you more independent because you're not relying on one thing. You now have two options. So I always say never have just one job or always have two jobs. So in case something happens you still have the other to fall back on. I love YouTube. I love it all. You all seem to like it too so I'll stop blabbering and get on to the next thing. So financially what motivates me is when you start doing well in your career you have other income that you can actually expand and invest into other assets and then different financial avenues and what motivates me is results. So if you invest in an ETF or a stock and you see it doing well you just want to save up more money and put in that stock again so it does better. You're motivated by results. Obviously if you're making more money you are more motivated to make more money if that makes sense. I always used to ask myself when I was younger I was like why does Bill Gates why does Warren Buffett why does Elon Musk why do they continue to work when they are 100 billionaires? Like why? What is the point of that? But then I realized this is pretty recently actually because you get a little taste of a little success and you're like oh I see exactly why they keep working because they're motivated by results and they just want to see how far they can take it. They don't want to relax. It's you for it to do well and then do even better. You just have to keep going and for that reason they don't want to stop because it's like a game to them. I hope you understand what I'm talking about but the summary of this video is that everybody is results driven and everybody just wants to do well and when you see results happen you want to do even better. You just keep chasing you keep working hard and you keep going. That's what I do. Maybe some of you all do it as well. Comment below how you stay motivated and what motivates you. Hopefully you guys like this video I wasn't rambling too much. This is what motivates me. Results. Results in every avenue in my life keeps me going. So on that note make sure you smash the like subscribe button follow me on Instagram and TikTok if you don't already and I'll see you all on the next video. Cheers.


Today we are hosting Vice-Chancellors from 36 universities, 20 of them from the European Union Guild universities and 16 of them from the African Research and Research Alliance. We're talking about how do we mobilize funds collectively. We're talking about setting up clusters of excellence focusing on research areas that are often important for the African continent but for the world globally. And how do we ensure that Africa's capacity is not only built and strengthened but is also kept on the continent for the good of the continent and the world. This is about a shared commitment not for the sake of funding but it's about developing a shared vision together that can stand the test of time and funding opportunities that come and go but in a way what's really critical is to start from what we identify are the key needs that we need to address and those needs will also change over time which does not mean that we ignore the funding but it's about the end and articulating clearly what other means to be ended. A lot is about trust and to get to know each other and to understand each other and then based on that create equitable corporations for long term and that's so important and it's been a very good start of the conference. It is not at all intended that all the research will be done in Europe and then handed down to Africa that's what that's all the case. The African interest in the clusters is to ensure that within Africa we can do research that is relevant and rigorous and globally competitive. This is an amazing moment of possibility for the Guild Universities and Arua Universities to collaborate and build something that's never been done before to do something that's never been done before because this is the only way we can actualize or implement or showcase what it looks like to decolonize knowledge to make sure that knowledge is not just permeated by the West that Africa's voice is heard that we are contributing the knowledge systems interact for the good of the continent and the world. What I'm also enjoying really is not so much the European African connections but the African African connections I love it. I think many of us are very secluded and reaching out and talking together I'm looking forward to more connections between us and stronger ties. Collaborations between universities is really important because you know as one university it doesn't matter how excellent you are you cannot show up your strength as you can on your own. When you work with others it's like you bring other strengths that enable you to do things that you wouldn't be able to do on your own or achieving much bigger than you've ever achieved on your own.


We have a large and distinguished panel, individuals who have worn many hats as financial advisors, educators, authors, medical professionals. I'm going to be very brief about the introduction so that we can get into the meat of our discussion. I encourage you to look at everybody's bios on the Bogle Center website and go onto their websites. There's so much wonderful material. Many of you already heard Rick Ferry, Paul Merriman, Dana Ansbach, and Jim Dolly speak yesterday as part of Bogle Heads University. Today, joining them is Bill Bernstein, who we know is a neurologist by training, co-founder of Efficient Frontier Advisors, author of several books, also a Bogle Center board member, and my former colleague, Jonathan Clements, longtime personal finance columnist at the Wall Street Journal and more recently founder and editor of the Humble Dollar website. So we're going to talk about a bunch of investing topics, try and cover a lot of territory. If you have questions, Mike Piper will be gathering them. So Mike, could you stand up if you're in the room? Back there. So feel free to bring your question over to Mike and we'll save some time at the end to discuss those. So I think we're going to start with the climate interest rates over the last couple of years. Total bond market returns were negative in 2021 and last year and so far this year by a bit. The indications lately are that rates may be higher for longer. And I'm wondering for the panelists how that has changed, if it has changed, how it has affected your thinking about fixed income exposure, maturities, types of bonds to hold. And I'm going to ask Bill to start us off on that. OK, thank you for not asking me where I think your rates are headed because there are only three kinds of people there, the ones who don't know, the ones who don't know they don't know, and then finally the ones who know they don't know but whose jobs and whose paycheck check it depends upon appearing to know. They're the most dangerous ones. I think it really depends upon where you are in your life cycle. If you are saving for retirement and you're accumulating, you really shouldn't have that much in the way of bonds. You should have as much stocks as you can tolerate. And your bonds should be short nominal bonds of the safest available. They should be treasuries, basically. If you're an older person who is in the decumulation phase, you are now faced with what may be one of the great bargains of a lifetime, which is the ability to defy your real living expenses at a high real rate. Tips are now yielding about roughly 2.4% across the yield curve. So let's say you're approaching easer hood, you're 60, 70 years old, and you can buy a ladder that goes all the way out 30 years, which is almost certainly going to be beyond even most optimistic life expectancies that most of you are going to have. And you can guarantee a real consumption at multiple points out to 30 years. You can do it with a fund, you can do it by buying individual tips. And I think that this is an enormous opportunity. I don't like long-term bonds. I make an exception for tips because there you don't have to worry about inflation, inflating the value away. So would you advise people to put all of their fixed income exposure? Someone who is at that laddering point heading into retirement, would you go all tips? It depends upon their burn rate. If you're a kind of person who's got a very low burn rate or a zero burn rate, but certainly a one or 2% burn rate, it really doesn't matter what's in your portfolio. You're going to do fine. And you don't really need that tips. Ladder out there. But if you're burning four or five or 6%, I think a healthy dollop of tips would be worthwhile. I personally don't need them in my own personal portfolio. But I really like having them there. I've got now a nice dollop of them. When I want to need to go to bed at night, I don't count sheep. I count my tips. Dana, I know in your portfolios, you don't use tips, you use nominal bonds. As you're doing your planning, has the current interest rate environment changed what you're doing with clients? Not fundamentally. I really like what Briggs said yesterday about philosophy versus strategy. So it hasn't changed our philosophy. There are views to teaching just as that's the biggest impact that we've had is on managing short term cash. So two years ago, in no sense, it's been a lot of time managing cash in an extra .1 zero basis point. But now, if you have someone taking $10,000 a month out and you need to hold that $100,000 a very quick with assets to meet that monthly withdrawal, it doesn't make sense to manage that cash and not in the short term treasuries to meet money market. So that's the biggest impact it has had. It has also had the impact of us extending our bottom ladders. Some people are willing to do that. You can lock in 5% yields. And two years ago, someone was excited about locking in 2% yields. And so it has changed the behavior of the willingness of people to say, yeah, I do want to build up our bottom ladder. I do want to do more of that. But philosophically, no, I'm not the teacher. Other people who are doing things in the fixed income area we want to talk about while we're in this space. The other thing is it may be much more patient. And that doesn't hurt nearly as much as when it was only making one percent. And Jim, while you have the microphone, so let's talk about tips obviously are such a great way to hedge against inflation. I'm interested in how much you worry about inflation and are there instruments besides tips you looked to hedge inflation longer term? I'm incredibly worried about inflation. Bill has talked about the four horsemen that really are serious dangers to a portfolio. And the most common one of those is inflation. So anytime you build a portfolio, whether there's been nine inflation users here, thinking about inflation, you need to beat inflation. It's the investor's chief enemy. But trying to hedge inflation this short run is really hard. In the long run, it's not that hard. You've got good tools, you've got tips, you've got iBonds on the fixed side, you've got stocks and real estate and those sorts of things on the equity side. And in the long run, I don't think it's necessarily all that difficult for an investor to design a portfolio that's going to keep up with inflation. But I think a lot of people were surprised in the last two or three years when inflation came up how hard it was to kind of stick with it in the short term. And I think a lot of people were surprised when maybe tips didn't do that so well, when real rates went up. And of course, when rates go up, the value of a bond goes down. And I think that surprised a lot of people that expected when inflation showed up, unexpected inflation showed up, that their tips would somehow protect them. And they didn't feel like they did that very much, I don't think for most of us in 2022. Well, I think we always get those reminders of how incredibly complicated bonds are in general. And tip certainly adds a whole additional dimension to that. When you thinking about hedging against inflation long term, what should be the asset classes that I should focus on most? Anyone? Oh, I'm sorry. Well, I mean, historically, we would look to stocks to be the best, but to the extent that we use fixed income and we don't manage money and we don't give advice to individuals, but to the extent that we use fixed income, we're always short to intermediate, never long. I think that's what Bill said. And so I think those are, we don't look to gold, for example, or commodities, but basically have a balanced portfolio of the big, the small, the value and the growth and the U.S. and the international and the REITs and the emerging markets. And in there, you're going to have some combination that is likely to be a kind of an all-weather portfolio. At least that's what one hopes. Other thoughts on the mix, Jonathan? So inflation is less of a concern if you're still in the workforce, prices rise, so should your salary. It's a much bigger issue for retirees and the greatest defense for anybody who's retired against inflation is to delay social security. I mean, it's the best inflation indexed annuity out there, if you can afford to and your health is decent or the health of your spouse is decent, delaying social security age 70 is, I believe, probably the smartest financial move any retiree can make. And because of recent inflation, it looks even smarter. A thought on inflation as in terms of how it impacts retirees, it impacts different demographic segments differently. And so we talk about the go-go years, the slow-go years and the no-go years in retirement, and we offer inflation raises to our clients and I would say 60 to 70% of them turn them down and say, no, what I'm getting covers my expenses even with the recent price increases that we've seen. Now, for people that are in the lower demographic, they're spending less than 100,000 a year, basic increases in gas and food prices are gonna have a much bigger bite into their budget than people in some of the demographic sectors where they're spending more. So we definitely see that in real life and we see that as people get into those slow-go years, they're spending naturally declines and so their inflation is real, it's there, but it's not impacting them perhaps the same as someone that's still actively out there, traveling and buying furniture and putting, you know, paying for their kids and all of those types of things. So looking at the US stock market, one of the trends that we see is increased concentration. A lot of the markets return this year has come from what people refer to as the magnificent seven tech and tech adjacent stocks, which recently represented about 30% of the value of the S&P 500. So I'm wondering, does that concentration change the way you feel about using market-weighted indexes like the total return, total stock market return or the S&P 500 in portfolios? Rick? Oh, this is loud. So no, because if money came out of the mega cap eight, which is the magnificent seven plus one, it's probably not going to leave the stock market. So the fact that it might come out of those large cap stocks and get dispersed among the mid cap and small cap stocks keeps the same money in the market. Therefore, if you have a total stock market index fund, you shouldn't see any effect. The only issue would be if the money came out of those magnificent seven or mega cap eight and just left the market totally, yes, then you would have an impact. But I think that the people who are in stocks tend to stay in stocks. So we just get the dispersion of that money would be sent across the rest of the spectrum of stocks into a total stock market investor. It's the same amount of money, same value of the market. So it won't make any difference in my view. So if you've been writing about this stuff for four decades, which I have, you start to see the same stories over and over again. And when people talk about the concentration in the stock market, this is a story that can be written every year. It's a simple mathematical phenomenon known as skewness. The most the stock lose is a hundred percent but its potential gain is infinite. In almost every year, the stock market is driven higher by a minority of stocks that have fabulous gains. Those of course are the stocks that catch people's attention. Those are the stocks that make it into the headlines. Those are the stocks that cause people to give up indexing and go and try their hand at picking hot stocks in the same way that they try their hand at trying to pick hot lottery tickets. And it normally has the same unhappy ending. Don't be put off by all these conversations about how concentrated the indexes are in certain stocks and how the market has been driven by a minority of stocks. It has always been ever so and it will always be ever so and it's because of this notion of skewness. Yeah, it's an interesting exercise just to go back 50, 60, 70 years into 10 year intervals, look at what the mega caps of the era were. 1970s, what were they? They were oil stocks. If you put all your money into oil stocks in the 70s, you didn't do so well. 1980s, it was IBM investing a lot of your money in IBM and the 80s wasn't such a great idea either. And it just rolls forth decade by decade by decade. It's probably one of the worst bets you can make is buying Decile One and only holding Decile One's largest cap stocks. I think Jonathan has this line about the, look at the person in the mirror in the morning is your biggest enemy. And I find that the big decision is, what am I today? Am I still a buying holder or am I market timer? And in theory, we all believe that I find the one that's gonna serve us best, but there's something that throws us off along the way and we start to change the nature of how we approach the decision making. And the minute you get into this pattern, I think you're at risk of chasing either a fad or been hot recently and it feels like there's gonna be more of that so you wanna do something about it. I really have tried to encourage people, figure out how much in stocks, how much in bonds, diversify, whether or not without small cap value, by the way. And just be happy. When we go beyond that, we tend to do more hard. By the way, Paul, you missed your cue when it was a question about inflation because small cap value stocks are a marvelous hedge against inflation better than the broad stock market. So one of the things we talk about buy and hold but it's hard because you feel periodically that oh, maybe I should do something different. I thought it was really interesting in the session that Jim did as part of Fogelhead's 101 yesterday. He talked about reasonable portfolios versus unreasonable portfolios. But the reasonable portfolios are what? 28 of them you listed? I mean, I could have listed a lot more in 28. I've got a blog post with 200 of them. The point is there's hundreds of them. So I think a question for us then is when I look at all the possible reasonable portfolios and that reasonable portfolio could be a single all-in-one fund or it could be 15 or more individual funds, what do you think is make the number of funds that potentially makes sense for someone to be able to stay the course? As far as the number of asset classes in a portfolio, I look at three is kind of about the minimum. I think there's real benefits in going up to about seven. Maybe very minor benefits and going as high as 10. Beyond that, you're playing with your money. And those are asset classes which may or may not require separate mutual funds or ETFs, right? Yeah, the beautiful thing about indexing is you only need one fund for the asset class. So I am perfectly content to let Jerry manage all of my US stocks. Every day he goes to work with a team of 25 people and works very hard to manage my money. And I appreciate that. And he's managing a lot of my money, but he does it very well. And that's all the exposure I feel like I need to that particular asset class.  For sure, because you need to diversify manager risk. One of the 67 asset classes that you're in, you look to. Well, I think that's not necessarily something anybody else needs to model, right? I think having multiple asset classes is a wise thing in a portfolio. Does everyone have to have the same asset classes? No, some good asset classes I think people really ought to consider. US stocks, international stocks, nominal bonds, inflation index bonds. I'm a fan of small value stocks along with Bill and Paul. I am a fan of real estate. So there's six. And I think when people are getting into six and seven, they're probably looking at those sorts of asset classes, but there's plenty of others out there, right? There's 20 or 30 asset classes and it's okay to include some of those. You don't need all of them though. Yeah, a lot of you probably weren't here at last year, but Mike Piper said something that was very profound last year, which is the sorts of things that we all obsess up, obsess about how much small value, how much REITs, God, do I wanna own precious metals equities? Do I wanna own one fund or five funds or eight funds? That's a piddling significance. What is really important is do you have disability insurance? Do you have good life insurance when you're young?  Those are the really important questions. The most important thing about the complexity of any portfolio is not what it looks like, but can you stick with it? That is far more important than whether you own one asset class or 12. And so given that that is the challenge, and I think it's a challenge we all face personally, even if you say, I'm gonna stick with it, there are times that suddenly that feels hard. What advice would you give to people in how they construct their portfolios or how they live their lives to help them stay the course? Yeah, a suboptimal portfolio that you can stick with is better than an optimal portfolio of one you can't execute. It's just that simple. So pick something that you can stick with it. So you can stick with a simpler portfolio, a lot easier than a complex portfolio. And John Bogle said this a long time ago, and I brought it up yesterday in one of my slides.  If you're doing a slice and dice portfolio, and it's going down or it's not keeping up with the market, so how many concerns you? More, and maybe you're more apt to make changes, more apt to capitulate on that strategy. So I think the simpler you make your portfolio, the better. I think that it is a matter of having the right portfolio, but the problem that I've found over the years is most people have not actually identified, not just the potential return, now that's the easy part, but making sure they know what building loss factor there's going to be in that portfolio.  And the industry oftentimes will ask, are you willing to lose 20% of your money? Well, if you are, it's okay to be in the stock market. What they should be saying is, are you willing to lose half of your money? Then if you are, you should be in the stock market, and if you're not, you gotta put enough fixed income into the portfolio to bring the potential loss down to where you are willing to say, yes, I'm willing to do that. Then I think you can stay in the course, but you gotta somehow get there, we call it education. Sort of at a related note, Bill, this year, the second edition of your four pillars of investing book was published. Could you tell us a little bit about the way you're thinking about investing has changed since the initial edition, which was what, 20 years ago? Yeah, two ways. I was very impressed with a quote from the man by the name of Robert Kaplan, who's a historian, who said that half of everything is geography and the other half is Shakespeare. And I realized that that pertains almost precisely, analogously to investing, which is that half of it is mathematics, but the other half is Shakespeare. And you can be, the answer to investing better and better is not more and more math, or a lot of people on the Boglehead's forum might think you believe that, unfortunately. It's can you handle the vicissitudes of the marketing of your own psychology? So, long-term capital management, most brilliant mathematicians out there planted their faces because they didn't understand enough about market history in their own psychology. They didn't realize that every 10 years or so, the wheels come off the machine. And by the way, their model is only based on four years of data, so that was another little mistake that they made. So it's the importance of the psychology, and I tend to de-emphasize the importance of the math. I think if you can get within a factor of two on anything in investing, you're probably doing very, very well. I'm reminded of the joke is how do you know that financial economists have a sense of neurons because they use decimal points? So that's the first thing. And the other thing that I've realized over the years is the importance of liquid assets. You've got to be able to sleep through the worst of times. How well you do in the long-term depends upon how you react in the worst 2% of times, all right? And that's because that's when you're most likely to interrupt the magic of compounding and disobey Charlie Munger's first rule of compounding, which is to never interrupt it. There is a reason why Warren Buffett holds 20% of Berkshire in T-bills, because he can sleep at night. Or when the 300-year flood hits his insurance companies, he'll survive, and no one else will. And you have to have that same sort of outlook as well. So those are the two basic things that changed. One of the situations where we come up against that question of balancing finance, mathematics, and emotions is when someone has a lump sum, a windfall of money that they might invest in the stock market. So Paul, could you talk to how you approached that question when you're talking to someone about, do I put my pile of money into the stock market tomorrow, or do I dollar-cost in over time? Well, it's been 10 years since I've had to do that for people, but when I did, first thing we have to figure out is who we think they are in terms of their emotions of being able to actually put it all in at one time. The industry, of course, says that you're best off to get everything to work immediately, but of course, that's the industry that wants us to invest through them, basically. And immediately, for most people, is actually probably not the best way, because there is some probability that the next thing that's gonna happen is the market's gonna go down, and this is not what they were prepared to go through with all of that money. Whereas if you dollar-cost average it in, and it is a form of diversification, dollar-cost averaging, and as somebody recently said, when you're, anytime you diversify, you're settling for second best, in a sense. And so dollar-cost averaging is something that where you are likely settling for a second best, but it's something that you should be able to do, or if, and I found it's worked often with a client that couldn't trust either way, half of it buy and hold, immediately put it to work, the other half, you dollar-cost average in. And in a sense, you've got the best of both worlds of me. I guess in a way you can't do wrong except for one thing. At the end of the dollar-cost averaging, or the lump sum, the market can still go down. So you never outrun the market if you're worried about it going down. So I have immense respect for Paul. But I disagree with him on this point. I think dollar-cost averaging is for WIMPs, because of what Paul just said at the end. At the end of this dollar-cost averaging period, whether it's in three months or six months or a year, guess what? The whole portfolio is exposed to the market. And if you're not okay with that, what that indicates to me, maybe your asset allocation is too aggressive for you. And you ought to dial it back until you are willing to lump sum this new money into your asset allocation. And so I don't see a big role for dollar-cost averaging. I think it's a psychological crutch. The historical record is that you will do worse most of the time, not all of the time of course, but because the market goes up most of the time, most of those additional investments you make over the next few months are going to be at higher prices. And you're getting a worse deal. So I think you really need, if you're really having trouble putting a lump sum in, you ought to look more carefully at your overall asset allocation, because eventually you're going to be lump summed in. I think you're wrong, Jim. I'm older than you are. And I am willing to take second best. That's why I have bonds in my portfolio. So it's just another defensive strategy. In fact, probably the expert on this is Jonathan Clements. Since he speaks to the emotional side of this process, I'm curious what side you come down on. Thanks, Paul. Yeah, I think it's very hard to get somebody to put a lump sum into the stock market based with the possibility that the market is going to drop dramatically tomorrow. But I think before we say, yes, you should lump sum it, or yes, you should dollar cost average, what people need to do is step back and say, how important is this sum money compared to what I already have and what I will need in the future? So if Grandma dies, and you've already got a $2 million portfolio and she leaves you $100,000, invest it right away. $100,000 compared to the $2 million you already have, not a big deal. If you have $100,000 and Grandma leaves you $2 million, it's a much tougher decision and I can understand why somebody might actually listen to Paul and put it in more slowly. Jim is absolutely right. That dollar cost averaging is for wimps. The trouble is that most of us are wimps. All right. I'll throw my two cents in. So investing in the market is painful because you know as soon as you invest, it's gonna go down. You know that. Gonna happen, right? So you either rip the big band-aid off one time and do it Jim's way and you're done. You're in and that's it. You're done. Or you have to rip multiple band-aids off over a long period of time. And a lot of people might rip one or two or three off but they never get to ripping the fourth one off. They start looking at the markets, they start coming up with reasons. It's not to do that dollar cost average, that third or fourth one or so forth. And a lot of times, at least if it's, it doesn't get done. So ripping the band-aid off one time and getting it done, Jim's method, I find actually gets the money invested and dollar cost averaging often doesn't get the money invested because you have to make the decision to hit the button to invest the money multiple times and your mind is playing all kinds of tricks on you during that period of time. Unless of course you have a fantastic money manager like Paul managing your money and then you don't have to worry about that because he'll do it for you without any pain whatsoever. Not anymore. So I think that was just great. So this was just totally encapsulated the interplay of the math and the emotions of investing that we all struggle with. So I'm gonna thank all six of you for that. I'm gonna try and move on, but I will just also just remind you if you have any questions, please give them to Mike Piper. I think in about another five minutes we'll try and move on to questions. So we'll still have 10 minutes to do questions. Coming back to, coming to a classic Boglehead's question, looking at US versus international stocks over the trailing year, total international and total US stocks are just about neck and neck. And I point that out because that's the exception because over so many other trailing periods, year to date, three years, five years, 10 years, 15 years, US stocks have done so much better than international. So the question is, I'm wondering about what your views are on international diversification? Should I bother? The flip side of that is so if I've had international stocks as part of my portfolio forever, do I stay the coarser? Gosh, should I maybe change my mind and get rid of that now? Jonathan, you want to start? Yeah, let me kick this party off. It's the end of the year. You're looking back. Your home market has been the most fabulous performer, not just for the past year, not for the past decade, but for multiple decades. It is the hottest market in the world. Why in the world would you possibly invest abroad? This, of course, was what Japanese investors were faced with at year end in 1989. And those who suffered from home bias are still sitting with portfolios that are underwater more than three decades later. That is why I invest internationally because unlike the rest of you who think that US is the only place to invest, I do not have a crystal ball. I do not know what will happen in the decades ahead. But I know that if I am globally diversified, the sort of hit that has been suffered by Japanese investors will not happen to me. Yeah, here's the realm, which is that there's no question that the US economy and US earnings and earnings of US corporations are growing faster than that in the rest of the developed world. The problem is, is if you put a million dollars into US stocks, you are getting perhaps 30 or $35,000 worth of earnings. If you put them into ex-US stocks, foreign stocks, you're getting twice that, you're getting $70,000. And I think it's a pretty good bet that that $35,000 you're going to get in US stocks and earnings is not gonna grow fast enough to overtake the $70,000 you're gonna get from foreign stocks. You see the same thing with dividend yields as well. And that's the math. The Shakespeare is the Kahneman-Tversky availability heuristic, which is, we always look backward at the last decade and we say, why have I invested in this dog of an asset class? I'm done with it. I don't wanna face it anymore. I'm going to sell it and only invest in US stocks. And three times out of four, that's a big mistake. I will say the all-weather portfolio that I talked about yesterday that held up better under the worst case scenarios did have a higher allocation to small cap value and international than perhaps the traditional portfolio would. I think it's also interesting that we so often look at the combination of US and international and once we have those, we're diversified. Oftentimes, it's viewed as if you own the total market index is in the US and the international, you're diversified. In reality, historically, we expect certain kinds of returns, I think, from large cap blend stocks. And we expect... It may be that what we should be talking about, I think, what we should be talking about is not should we about international versus US that maybe a better diversifier is the small and the value even if some of those end up being international. That all can work, but that that diversification is a more true diversification than getting large cap US blend and international US, international large cap blend. And I think it will do more for the investor than you'll do better with the small and the value and the big blend in the US. You don't need international. International may give you some lower volatility because of the diversification of, this is a word I can't remember anymore, I'm sorry. But that, well, I'm gonna stop right there. I understand what you're saying. I've got to call the home. Look, first of all, you get three different types of diversification with international. You get more stock because I think the international markets have, the Vanguard International Fund, Total International has something like 4,000. I mean, Jerry, you can correct me if I'm wrong, but 4,000 is some of the main. So you're getting more diversification because you're getting more companies in there. But the second thing you're getting is you look at those companies, the industry groups of international stocks are quite a bit different than the industry groups of US stocks, a lot less technology, a lot more brick and mortar companies, value companies, if you will, to Paul's point. So you get that more industry diversification, a more global industry diversification. So that's a second type of diversification. And third, you get currency diversification. I mean, the dollar's been very strong. We benefited from that as US investors. I don't know how long that's gonna last, but if the dollar does to start going down relative to international currencies, you've got currency diversification. So you're getting more stock, you're getting more industry, broader industry diversification with international, and you're getting currency diversification. So I think that's a good bet to have 30 to 40% of your portfolio in international stocks. Mike, if you get a chance and wanna bring up our audience questions, we'll try and do some of those. First question is given recent bond performance, could you discuss the pros and cons of investing and holding actual bonds, individual bonds like US treasuries versus bond funds? Oh, I will say, I mentioned this to Karen yesterday. One question I got quite a bit yesterday, just one-on-one was should I sell my bond funds right now? And it came back to a conversation earlier here of discipline and what does it take to stick with your strategy? I think you really need to know why you own what you own. So if you own bond funds and you're rebalancing to an allocation, you should have a rebalancing frequency, and that's what you do, and you don't deviate from that strategy. And one of the most important things is sticking with a strategy over time. In our practice, we prefer individual bonds because we're using them to meet a specific liability in the future. We have planned out what cash flows someone needs, that bond makes a perfect choice, we know when it matures exactly what we're gonna get. So I think you really have to decide what your investment approach is going to be. And once you decide that, that's gonna lead you to the right choice for you. Yeah, Dick, I agree completely with Dana that a bond ladder of individual bonds is superior in the sense that you can match liabilities and expenses, you can't do that easily with a bond fund. And it's really a matter of convenience. It's really a pain in the took us to put together a bond ladder. It's easy to buy a bond fund. And the way I look at ETF versus open and close and do you own individual treasuries if that's what you're going to be owning, you're gonna get a Rubin sandwich, okay? It doesn't matter whether it's wrapped in yellow paper or green paper or red paper. At the end of the day, it really doesn't matter that much. It's really a matter of convenience and psychology or anything else. I think it's important to point out there's a difference between trying to buy a treasuries individually versus a treasury fund and trying to buy individual corporate bonds versus a corporate fund. I think there's a real diversification need there when you get into corporate bonds and to not quite as much of an extent, also muni bonds that it's worth using a fund for those. But I think you've got an option when it comes to nominal and treasuries and tips. Thank you. One question we had, I'll probably address this to Jonathan since you talked about the value of waiting to collect social security. If I could collect my social security earlier and invest all those dollars, why wouldn't I do that? There are various questions that make my head explode. You know, one of them, and I won't go back to it, but one of them is the bond fund versus individual bond question. So much nonsense said about that. Similarly, why don't I take my social security early and invest it? Well, yeah, if you take your social security early and you invest it in stocks, yes, you're taking on more risk, but yes, you should do better. But it's an apples to oranges comparison. You're comparing a government guaranteed flow of money to investing in the stock market. If you take more risk, yes, you should earn higher returns. But if you compare taking social security early and going out and buying bonds or bond funds, no, obviously it's not gonna be insensible. Most people in retirement are gonna want a stream of income they get every month and preferably an income stream that is indexed to inflation and that is at least partially tax free. And that is what social security will deliver. We also know from the research that retirees who have predictable income from a pension, from social security, from an immediate fixed annuity tend to be happier. Frankly, when people claim that they're gonna take social security early and invest it in the markets, if you dig beneath the surface, what you tend to find out is they have already claimed social security early and now they're trying to justify what they've already done. I'm moving on to a different question. If I have a certain percentage of my portfolio that I want in bonds and I don't have any more space in my tax deferred accounts, would you recommend buying munis in my taxable brokerage account? How do I decide if munis are right for me? I think that's exactly how you decide whether munis are right for you. I used to have a portfolio that was all sheltered. Now a portfolio that's almost all taxable. That's just the way my financial life has gone. And so my bonds are now mostly in taxable. And because I'm in a high tax bracket, that means muni bonds. And so I think we're forced by our circumstances to invest in muni bonds. I just can't put everything into a tax protected account. It's too small of a percentage of my portfolio. So something's gotta go into taxable. And if it's gonna go into taxable and it's bonds for me, that means muni bonds. In terms of deciding if you should have munis, you look at the taxable equivalent yield. So what would you have to earn on your muni after taxes to make it equivalent to a taxable bond? Thank you. Gonna like this one. Our index funds a bubble. We'll let the paddle address that. No. They've done very well though. No, index funds a bubble? Is that what the question was? No. I think it's important to realize that yes, U.S. stocks have done great, right? Over the last decade. But I've got a lot of index funds that haven't necessarily done that great over the last decade. Those are index funds too. So I wouldn't say that because it's an index fund, it's a bubble. I mean, the index fund is just matching the market. That's it, whatever that market may be. And just to add to Jim's point, if you have a calculated index fund, every stock that it owns, individual investors actually manage their portfolio in exactly the same percentages if you look at them collectively. So if index funds are a bubble, then so are all active investors invested in those stocks.  And I think that's number two or three on the list. It's pretty pre-high up on the list. Okay. I wanted to ask you, looking out at the landscape of investment products and services at Vanguard and at other firms, I'm wondering are there developments of note that you think could be beneficial or handy for investors or things you're seeing that you're particularly concerned about these days? Are you asking about products that should be available that are not? It could be that or it could be things that are available. Well, I'll make a pitch and I've been doing this for a long time for balanced ETFs that we can put in taxable accounts where the tax efficiency of the ETF would be using that create redemption baskets within the ETF would be a real benefit in a balanced portfolio. So you could buy one fund, you could buy a balanced index fund in your taxable account that has municipals in it, no capital gain distributions, fairly low given in distributions. I think that would be beneficial, but it's not out there. I mean, Alan Roth is an up here right now, but I'll put in a plug in for his favorite idea or what I think is his favorite idea, which is if you take the current tips yield of let's say 2.4% and you amortize that over 30 years into a sinking fund so that you get inflation adjusted real income every year for 30 years, you basically are making a ladder, then you have about a 4.8% burn rate out of that, a real burn rate of 4.8% every year goes up by inflation. And it would really be nice if some large index fund provider would provide a fund like that, dated to, you know, 2053, 2043 and so forth that would yield that amortized real interest payment over the lifetime of it, we would have a fixed duration. But there are some fixed duration tips funds, ETFs now, right? Yes, but they're constantly rolling, there's some brand new ones that basically function as individual tips, they're basically one year tips, which don't make a lot of sense to me because you might as well just buy the darn tip for that year. One product, it's not necessarily new, but it addresses the concern that Jim brought up in terms of when you're buying individual bonds, you know, it can be very safe to buy treasury bills or agency bonds or CDs, but when you get into corporates, now you're taking on some risk. So there are packages of bonds, it's called bullet shares, it's basically an ETF, it's a package of bonds, they all mature about the same time. And so I think products like that can be a good hybrid that allows you to create someone of a bond ladder, but still getting diversification if you were gonna go into corporates. If I could have one wish out of Vanguard, it would be that they would fix it so we can buy ETFs other than Vanguard with partial shares. I think that'll change the life of a lot of investors who don't have a lot of money. Okay, I think we have run out of time. I wanna thank an incredible panel, Bill Bernstein, Rick Ferry, Paul Merriman, Dana Ann Spock, Jonathan Clemens, Jim Dolly. It's been great to hear all your observations for disagreements, thank you.


Hello everybody, it here, I got a package. So today's package is from my buddy Wayne, I'm super hyped about this one, I know one thing that's in here, I do not know another thing. Also, if you have, this almost got sent back, the, luckily the post, the mail person that comes up here, that comes all the way out here was off the day before when it came. He actually wrote return to sender on the package, I show you but it's literally on top of my address, do not send me anything else by post because someone around here, around this area wrote return to sender and it cost quite a bit for Wayne to send this to me. So do not send me anything else until I get a P.O. box, there is, the reason why I've used my real address out here because we're dang near impossible to find. I've had the police and fire department not be able to find us, so you know it's an issue when that happens, I live out in the middle of nowhere guys. So anyways, I'm going to jump into this, but yeah, but if you have my address, get rid of it because I won't be using it anymore, I can't take a chance some of this stuff because I've already lost two cemetery dance packages also, I have no idea where they went to, luckily cemetery dance replaced one of them and a friend replaced the other one for me. But anyway, we're going to jump into this, so Wayne, thank you so much, right off the bat, I know what one of these things is and I appreciate it, I've been looking forward to it for some time, trying to get, oh, hey Wayne you really, you did the business trying to get this thing sealed, didn't you, okay, alright here we go, let me put my, it's not as slicey, it's actually a clay modeling tool because I couldn't find my knife out here. Alright, so first we have a, oh, here we go, we got a letter from Wayne, hope this finds you well, a few treats included for the family, happy reading, happy munching, all the love, Wayne, love you too brother, love you too, Wayne has sent me numerous numerous things, one of which, I mean so many things, I have the special edition of Norwegian Wood by Haruki Minakami, he sent me that, he sent me loads of stuff, really cool bookmarks, but yeah, we're going to jump right into this, they've got two books, oh yeah, I only remembered one of these, okay so we got End Times by Rio Ewers, y'all know how much I love Rio, Rio, Rio, always say his name wrong, I'm so sorry if you're watching this, probably not, he probably didn't want you, anyways so yeah, this is Rio Ewers writes, oh that's Joe Hill quote, this is really really cool, I should have grabbed something to, I'm also sweating, like a heathen in church bro, okay now this doesn't look like it's a special edition, I think it's just a, yeah it's just a first edition, but that's amazing, is this the same artist that did Joe Hill's, I don't know, I'd have to look that up, yeah so we got End Times, we got this, this is the one that I was I was hyped for for that one too, but this is the one, he said this is signed, this is the house on Needless Street, right, yeah the house on Needless Street by Catriana Ward, that is amazing, yeah I'm really, oh, oh, oh, oh, I should know, oh it's just the SST Publications bookmark, in case you don't know I can't, I can't run the air conditioning while I'm out here in the office and it is currently 93 degrees outside, so it's 93 degrees in the office because I'm shooting back to back to back, I can't have the air conditioning on, so pardon, pardon my sweat mess, I apologize, ooh, look at you yet, I know, so wow, I just soaked a pile of books bro, alright so anyways, so we have, he sent Fox's classic original, never even heard of that, I don't think I've heard of any of these things, that's probably why he sent them, this is the Curly Whirly, I love Cadbury, I love everything Cadbury, people send me, people have sent me Cadbury chocolate, it's much different from the Cadbury stuff we get over here, but yeah this stuff is fantastic, Cadbury double decker, I got a box of Cadbury stuff from my friend Sarah in Australia, and it didn't have this stuff in here, so, ah, Tonic's Caramelog, you sent one of these before didn't you, I can't remember if you did or not, but anyways I believe I loved it, so thank you again, and then I got another Curly Whirly, what we'll do is, I'll do a special video with the family trying this Wayne, and I will put all this stuff up there, thank you so much man, you go, always go out of your way when you send me stuff, and I just appreciate you, I love you brother, and the review of your book is coming, I got a little bye, I'm so sorry, but we gonna get there, I promise, but until next time, I am an E, you have been you, this has been another unboxing, thank you so much Wayne, I'll talk to you guys later, bye bye!