Hello, A couple of questions here (last two are hypothetical) 1 - How long do you plan to continue adding content to applied level? Would this content be available to us for several years? 2 - Has there ever been a time when you had a high conviction trade that went poorly? When did you realize it was going wrong and how did you manage it? 3 - How much cash/bonds do you hold in your personally managed portfolio since you regularly sell puts? Would there ever be a time when you sell more puts than what you have in liquid assets? 4 - If you were to find a good opportunity for buying calls, what time horizon and delta do you prefer (or general guidelines you like to follow)? 5 - If you were assigned T shares, what would be the signal to sell covered calls or get out? I also like selling puts and holding T at 17, but I'm curious about how to exit when I'd like to liquidate for better opportunities. Thanks in advance for all the answers!

Mark, back in December or so when the Fed funds futures were pricing in 6 rate cuts! You made the brilliant call to short Fed funds futures. That was the trade! I think going long Fed funds futures isn’t worth the risk right now. Why would you go long at this point for just potentially two or three rate cuts? Also, can you do a top down video on expansion? I loved your top down videos on contraction and slowdown. So informative.

Hello Mark. In the applied series, could you add a lesson covering the fine print of a long-only, all weather portfolio invested in different (and low correlation) asset classes with periodical rebalances? Many investors do not seek alpha, so their best bet is a balanced/smart exposure to beta.

Hello Mark, many thanks for your awesome and in many ways revolutionary videos! Tesla vehicle analysis. With fast recharging by superchargers of 15 min duration up to 175 miles can be traveled, so taking into the account of the speed allowed of 75 mph (121 km/h) that would require recharging in duration of 15 minutes every 2 h 20' approximately. With this superchargers up to 80% of the battery can be recharged (by the way can you recharge the battery up to 100% with supercharger?) However if you want to recharge with destination chargers, available free of charge at many hotels, motels, malls, restaurants, parking garages you can recharge up to the full battery. So with the range of 340 miles (552 km - Tesla Model 3 - Long Range with battery of 88.78 kWh nominal capacity) you can recharge by the recharging speed of 44 miles/hour, so to recharge up to entire 340 miles (552 km) range it would need 7 h 43' assuming that the battery is empty. However if the battery is left to 100 miles remained range, and be put on recharging, the time necessary for recharging will be 5 h 27'. So if supercharger and destination charger is at the same place, the full recharging will last 4 hours. Tesla destination charger can be installed in any home with cost of $620. The electricity consumption to add that 44 miles/hour of range will be 7.72 x 11.5 kWh = 88.78 kWh. So taking into account that the vehicle passes 60 miles per day (100 km per day) that would mean 1800 miles per month, or 3000 km. So the electricity consumption for home recharging would be in that case (1800/340) x 88.78 = 470.0118 . Taking into account that average price for electricity in the U.S is $0.161/kWh, for full home recharging of the vehicle the monthly cost would be 470 x 0.161 = $75.67 (this is my maximal estimation. In reality it's a bit lower). In addition many can use free of charge destination chargers available at 40 000+ sites and lowering the cost. The cost of the vehicle is $47 740. Comparison with Honda Accord 2.0 L Hybrid Sport: price: $33 990. Fuel consumption: 2.3 gal/100 miles or 5.36 l/100 km. So for the same mileage as previously (1800 miles/month or 3000 km/month) the fuel consumption would be 30 x 5.36 l/100 km = 160.8 x 0.9 $/lit (in the U.S) = $145. So the saving is around $70/month at least (likely a bit more), which means $840 annual. But what I don't know is how much are costs of maintenance for Tesla. Tesla hasn't yet established clear guidance for maintenance and how much are maintenance costs for Tesla cars? Ok, I understand they don't need changing of lubricants, but they still need maintenance of cabin filter, air-condition systems, etc? My conclusion that Tesla cars are well overpriced! Is my analysis good? Of course much more detailed analysis would be required! Again many thanks! Sources: ev-database.org/car/1992/Tesla-Model-3-Long-Range-Dual-Motor, www.tesla.com/model3/design?financeModalTab=finance_options#overview, shop.tesla.com/product/universal-wall-connector.

Sir, Is TLT more sensitive to changes in long term interest rates than short term rates? If so, what will then happen to a long position in TLT if the yield curve steepens again?

Hi Mark! I share yor view that the market is overvalued, but given the scenario that market pulls back 10% to 20% (which is something I would like in order to enter into a long term position (10Y+)), which allocation would you choose - SPY, XLY or QQQ? To be more precise, do you think XLY and QQQ could outperform SPY in 10 years, or should I just stick with a broad market index like SPY?

Hi Mark, It addition to X and Instagram would it be possible to just send applied series updates through an email list? When people subscribe to the Applied Series they already have to provide an email address. Maybe something IT team can easily do? I'm not sure how others feel but I stay away from X and Instagram/Facebook as much as possible since they generate their own unsolicited spam.

I have a long-term macroeconomic concern that I haven't heard much about. With the world birth rate rapidly declining year over year (an average annual change of -1.05% in the birth rate per 1000 people over the last 10 years), wouldn't this have a substantial impact on all markets down the road since there will be less consumption? Do you believe that this information is already priced in? Thank you for your videos!

@aarlew000

22 күн бұрын

This is an important topic that needs to be addresed

@GiorgiBezhashvili

21 күн бұрын

Haven’t heard much about? It’s been known since the mid 2000s. The most obvious case of birth rates affecting growth projections has been Japan for quite some time now. At the same time, how can I say no to Mark’s opinion. Please do

@naanull

21 күн бұрын

The main issue here is that the change is slow enough to be reflected in the changing of key econ variables as well as levels. But, it seems interesting enough a topic to explore.

Thank you for adding cpi and pce for the sector studies, I was trying to learn how to effectively analyze them and this would be very helpful 👍🏼

How do you come up with your desired option price? Currently, if I would sell TLT @ 89 in June, my initial margin would be 766 and my maintainanc margin 700$. With 130$ in expected premium, I expect you aim for 17% returns on selling the puts?

Corporate buybacks mainly benefit the rich who own half of all stocks. CEOs use it to manipulate their stock price to maximize their compensation. Companies like BA and NSC have done massive buybacks over the years while underinvesting in their respective businesses, which have literally caused deaths.

Could you share some general principles on when you sell options, how do you arrive at premium you want to collect?

Curious if you could speak to the price action this week on ABR. Quite interesting!

Regarding ABR I have been selling 12.50 puts for early 2025. They are selling for over $2 because as you have taught selling puts you get the dividend yield. Normally selling puts you want short terms but because of the high dividend the longer puts give you that return . Also since the next few quarters will be stressed wanted time for them to work through issues with out having them put to me and hopefully interest rates cuts which will help them considerably. Because of the large put price compared to the stock price and margin required ROI could near 100%. Only reason I can think of to own the stock rather than long puts is with the very large short interest you are anticipating a short squeeze. Appreciate your thoughts.

Thoughts on buy and hold of TMF? Extra 1% management fee but 3x leverage on TLT.

I don't understand the hate against buybacks. Its a valid strategy to optimize cost of capital between equity vs debt. When equity is cheap buy it, and issue when you need capital when its better than debt. Taxing buybacks seems as silly as taxing unrealized gains.

One aspect I am somewhat unclear about is sizing. For e.g. you have some choice of enumerations regarding investing ideas which you have recently spoken about (abr, tsla short, cap reits, beta short, att etc.) with highest conviction being cap reit. How do you determine sizing between these ideas? I would hazard a guess that u wont prefer a exact formulaic approach. Do u have any framework / quick rules you could share with us, please? Thanks so much.

Didn’t your beta short trade lose immediately? What is your hedging strategy? Will you close the trade out at a loss or add to it?

Did you mean the December $50 puts for CAR.UN? There is no $50 strike for the October options

Hi Dr.Mark: If the BOC cuts interest rates in June and then cuts for a total of 75/100 Bps, does the interest rate differential between US and CAD hurt the canadian consumer even harder as CAD will be importing inflation from our largest trade partner which can also lead to a wage price spiral. Does the BOC always need to maintain a certain int rate diferential with the US?

Hi Dr. Mark: The US 10 yr rates have a direct impact on the 30 yr FRM. Any reason why you observe the spread between the two?

Not sure if you will see this in time for your market outlook question video, but do you think today's SPY and TLT are over-reactions based on core CPI and retail sales data?

Hi Mark, wanted to know how to generate interest on funds deposit on Interactive broker. The 5% something they mention in their ads. Can you please guide? Thanks

Any tips on growing a subscription-based business like you did with your CFA prep content? What did you do to set yourself apart?

1) Congrats on finally not only having the right call but at the right time! Haha (TSLA) 2) Empirical duration on Corporate bonds is lower than Treasuries because spread change counteracts change in rates, but this is generally because rates are cut in recessions where POD is increased, meaning credit spreads increase. In our current situation could we get a higher yield corporate and still make a duration play if we dont believe spreads will increase as rates are cut because the fed is just returning to its long run rate? 3) Staples and Utilities outperforming due to rates, rotation in the cycle to defensive sectors or just noise with no discernable reason? Thanks

On why Canada does not have a 30-year fixed rate...We have the federal Interest Rate Act that limits pre-payment penalties on mortgages with terms longer than 5-years. So because lenders cannot be compensated for pre-payments on those longer term mortgages, there are very few lenders that offer them. Also the bond / funding markets would need to be adjusted. Canada doesn't have as deep of a 10-year plus bond market compared to the US, so more difficult for lenders to hedge / fund themselves. Do you think that 30-year fixed mortgages are a net positive for the economy? Given that households have fewer options than lenders to hedge interest rate risk, I think households would benefit. Although, it could come at the cost of less mobility and less supply coming onto the market (i.e. what is happening in the US right now). Could make the undersupply problem even worse in Canada over the short run...

how much time does it usually take for the PPI numbers to be fed through to the CPI ?

Can you expand on cost basis of stock and selling options against it lets say I sell puts against a stock I own shares in and they expire OTM can i reduce my cost basis of the stock? I believe you said you can do this for calls. If this is the case does this happen automatically for example will interactive brokers handle this?

10K is very solid views for this kind of content

Mark, did you buy any copper stocks? Which one?

After going through the automotive sector studies, have you gained any insights or extra knowledge that would of changed your mind on having such a significant long position in GM around 2 years ago? Are there any drivers in the industry that you weren't aware of back then that you are now?

hey Mark, for CAPREIT and the other REITs you mentioned, do their respective MD&As have commentary on how they calculate NAV and whether NAV is adjusted for an expected decrease in interest rates? In other words, when looking at the stock price versus NAV, it looks like the REITs are a good buy (i.e. NAV > stock price), but what if that difference is largely attributed a difference of opinion between the market and REIT management on the magnitude/timing of interest rate cuts?

Professor, in these days of peak Fed funds rates and low volatility, I am finding that I can almost fully finance Leap Calls with the yield from the one or two year treasuries. By doing so, I can acquire market exposure (with an embedded stop loss) for the small price of the risk free rate. Are these DIY structured products indeed an efficient mean to finance your long-term deltas, or am I missing something?

Mark, you’re either a genius, or you must have some serious market movers watching your video. I’ve seen CAR.UN, ABR, FCX, NEM and GM perform after you speak positively of them. What are your thoughts on the strength of Chinese equities in the last few months?

Have you ever actually done the rolling 6-day buying calls strategy on SPY that you show in the Option course? When would you recommend something like this?

Hey Mark. Why do you think the 30yr mortgage over 10yr spread is so much higher than the historical average? For a while it seemed stable around 200bps and now has been 250-300bps during this cycle.

is there a specific reason you want tlt puts at 1.3?

can someone please explain whats that 4.5 b at 6:02 is about

Hello! Great fan of what you do here, I find it deeply insightful and stimulating. I hope to follow in your footsteps and get my CFA certification one day. What advice could you give on investing in the European Stock market? Are there any particular industries or companies which are worth looking into at this point in time? Thank you for the great content!

Hello sir, What happens to open Options when a company files for bankruptcy or bought over by some other company?

How much of a spread between the Fed and BoC rate will there be? It’s usually said a 1% spread between the rates are acceptable but do you think they can widen to 1.5-2%? What will be the effect of that on the economy?

I think you should keep going on the political side of things, especially as it relates to finance, spending, inflation and the effect on the broader economy. I don’t see too many informed opinions/ projections on it elsewhere

Did you say you were selling the the $12 puts on GT? If so did you get them filled? I'm assuming it's due to the long term global demand for EV's and their weight resulting in tires shorter life. Are there any other reasons? Are you worried about GT's debt? If not, when would it be a concern?

Hi Mark, What do you think is the probable trajectory and the end game (or likely scenarios) for US government not recognizing spending problem? Thank you

Given that rates must come down, is there much downside to buying TLT Jan 2026 calls?

I currently work for a large financial institution as a broker processing trades and servicing brokerage accounts. Considering leaving and starting a consulting business doing one on one coaching for anyone new to managing their own brokerage account without an advisor. Also considering starting a KZread channel making short educational videos to help advertise my services. Though I would only provide operational education and wouldn't provide investment recommendations (either on the channel or in a one on one session), there's so much regulation in the industry that I'm still afraid the SEC will send Seal Team 6 after me for something. Just wanted to ask you a couple of questions: 1.) Am I being too paranoid about regulators? 2.) Do you have to be careful with what you say on your videos due to regulations? 3.) Have you ever had any copyright issues when using web services like Koyfin, etc. in your educational content on KZread or your website? 4.) What has your experience been with monetization on KZread? (For additional context, I have a Series 7, Series 66, and have passed CFA Level I, currently working on Level 2) And of course any additional advice on starting a business and/or operating a KZread channel is always appreciated. Love all the content and thanks for all you do

Are those spy puts exp august 1st?

Once you build your position in AT&T, will you look to start selling strangles?

Could a call ratio back spread could be the play on NVDA next earnings?

Nice to see CAR.UN here 👀

If, for some unforeseen reason, the BOC does not lower rates this year, how would it impact your high conviction REIT trade?

Has VOD (vodafone, major euroean telecom) crossed your path yet? Price battered, P/B: 0.36, div 11%. Could be a good alternative for yield / or selling puts, decent OI on options 2 months out

If FCX ends above $50, for example around 50.5 at 3:55pm May 17th, will you sell June 50 puts on FCX with the same amounts of share that's called away?

Mark how do u take out ur money for spending purposes? What are your protocols as a full time investor

Do countries with very high Debt / GDP ratios eventually experience a major devaluation in their currency (i.e Japan, Weimar Republic)? What is the end-game for Japan, a worthless Yen? Will the U.S. face the same fate given our lack of fiscal discipline?

Can someone tell me how I would find the CPI Core data. I managed to recreate the normal CPI but I can't find the right ones for the Core. Ty in advance!

@MarkMeldrum

18 күн бұрын

US CPI report pdf, Table 1 - all items less food and energy.

@KodakXBT

18 күн бұрын

@@MarkMeldrum Thank you so much, I just started watching your videos and it's been super interesting!

For ABR, if it get stuck in a channel, why not selling puts inside of longing the stocks?

@jacksonvescelus9644

22 күн бұрын

I have made some nice income writing puts below that $12 support so far this year, on track to more than double the dividend income

You added some shares of abr. I’m just curious, why you didn’t sell some deep in the money puts (just to capture that juicy div yield)?

@DeviantFox

22 күн бұрын

You get the dividend directly with shares anyway. The only reason to use ITM puts is capital efficiency but if you're already looking for 1 delta long exposure it's better to just allocate the capital directly. Selling puts has the potential of walking away from you... you can see that with his TLT short puts. The difference is between the two he's being greedy about a specific price in TLT and greedy about being directionally long at an allocation in ABR.

Last week Pfizer hired a veteran pharma analyst from Citi to run its corporate strategy and lead its capital allocation committee. Any thoughts on an analyst going into an advanced operational role like this?

@emeral311

18 күн бұрын

It has significant added value that's for sure.

Just curious if you know why QQQ out performs the S&P regularly over the long term?

@emeral311

18 күн бұрын

Heavily weighted in the magnificent 7

What’s happening with ABR, I was away and didn’t pay attention, not gonna lie…

@MarkMeldrum

20 күн бұрын

Short squeeze - a thing of beauty.

Kindly, what do you mean by short defense something? Like ABR short defense