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WSO Podcast | E206: The Path to Equity Research | Weekly Intern Meetup #7

WSO Podcast

We talk equity research, CFA and career paths in this weekly chat with the WSO interns.

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WSO Podcast Episode 206 Transcripts:

Patrick (CEO of WSO): [00:00:06] Hello and welcome. I'm Patrick Curtis, your host and Chief Monkey. And this is the Wall Street Oasis podcast. Join me as I talk to some of the community's most successful and inspirational members to gain valuable insight into different career paths and life in general. Let's get to it. We talk equity research, CFA and career paths and this weekly chat with the interns enjoy. But is the record so welcome everybody for to I think weekly meeting number. Seven. Six or seven. It's up there.

Intern 1: [00:00:45] One in six. Yeah.

Patrick (CEO of WSO): [00:00:47] It's up there, I think. Six. Thanks, Brendan. Oh six. So I think today we don't have a lot of people on today. I think as the time is later. So it can be you guys can be more selfish and ask more questions about your own stuff. But for the people who are new here, if there's anyone who didn't join last week or any of the previous weeks, feel free to ask those questions first on just the internship itself, the finance research analyst internship with so and so we can start there. Otherwise we can open up to career based questions or anything about resumes, anything about interviews or anything about career paths, you name it. It's it's all fair game. So. Let's start with that in the internship, specific questions. Does anybody have questions? And I know we're behind on editing. You have a lot of people waiting under articles are waiting to be edited. We have moved some of the writers over to help us. Edit is because it's been a crazy new flow of new interns starting these last 2 to 3 weeks. So we have moved more people over to that that role to help us kind of reduce that bottleneck. But you should be expecting feedback ideally in the next few weeks as that that part of the team grows as the editing team grows. We know there's a need there and there's a need for uploaders as well to help us get them live. Once it's all done, getting it actually live takes another hour or so.

Intern 1: [00:02:26] Yeah.

Patrick (CEO of WSO): [00:02:27] So is there any questions on the internship itself? Welcome, Trung. Welcome, Ryan. Anybody have questions? Nothing. Okay. Anything around specific career advice that we can give you? Welcome Investment Ranker.

Patrick (CEO of WSO): [00:02:56] The name.

Patrick (CEO of WSO): [00:02:58] If not, it's going to be a real short call if we don't have any questions. Hey, Walter.

Intern 2: [00:03:03] Hey. So I have a question. So I'm looking to get into equity research. I know a lot of people talk about investment banking, but what do you think is the best path to getting into equity research? I spoke to some some people who do work in investment banks, and they were telling me that becoming a pro folio manager is a good step. Or like an assistant portfolio manager. Or some places, I think they call it associate portfolio manager and then working your way from there to then becoming an equity research analyst.

Patrick (CEO of WSO): [00:03:39] Yeah, I think that's good. Give us a little bit more about your background. Like where are you working? Are you in school? What year? What what are you doing right now?

Intern 2: [00:03:47] Yeah. So right now I attend a community college, but I graduate this fall and then at the end, going to a university.

Patrick (CEO of WSO): [00:03:56] As a as a junior or as a.

Intern 2: [00:03:58] Yeah, as a junior.

Patrick (CEO of WSO): [00:03:59] Okay. Where where are you going to go yet?

Intern 2: [00:04:02] Yeah, I'm going to Iowa University.

Patrick (CEO of WSO): [00:04:05] Nice. Congrats.

Intern 2: [00:04:07] And what I do like about is they have a they have a I think they have like a they have a fund that the student manage. And it seems like it's it's been a really successful fund in the past 20 years. I think it's ranked like the highest growth in colleges. I don't know, but I've done some research about it and I think it's a really good school to get into, especially for equity research.

Patrick (CEO of WSO): [00:04:33] That's great. Yeah. And I think being involved with that stuff on campus is going to be pretty critical. So I'll just help build out the resume. I think this internship will help a lot. If you're looking to get an equity research, definitely look at like the more equity research oriented terms to write about. So valuation, DCF specific, anything around portfolio management or asset management, asset allocation, that type of stuff I think would be relevant if you feel like the portfolio management path is the way in. What do you think about the CFA for equity research?

Intern 1: [00:05:11] Pretty, pretty helpful there. Yeah. For equity research, yeah.

Patrick (CEO of WSO): [00:05:14] Have you got the CFA, Walter.

Intern 2: [00:05:17] Yeah, I have. So since I know that you could take it on your senior year. So my. So starting this January, I'm going to get the books and all and try to complete the level one.

Patrick (CEO of WSO): [00:05:29] It's great. Yeah. But also.

Intern 2: [00:05:32] I've noticed a lot of a lot of people who go into equity research seems like they don't stay there for for too long. It seems like it's an entry point for like other places to go. That's what it seems like for me. And then so my question would be is, why do you think it's not? You know, like something that's long term.

Patrick (CEO of WSO): [00:05:51] I think it's really hard to get an analyst seat. I think those analysts stick around for a long time. And so it's one thing to become an associate under them. And again, it's reverse. The analyst is the senior to the Associate and Equity Research. Sure. You know, but just for the people who don't. So if you're an IR associate, you're basically helping them put their models together, keeping track of the names that they're covering and stuff like that. I think it's probably not long term career for a lot of people. Just because it gets a little bit, it's a little it's pretty rigorous around earnings season, especially keeping all those names updated. So that's tough. There's a lot of like ebb and flow around what banks how much they're investing in their equity research arm or not. So like you see the teams really grow and then shrink and they grow and depending on the service because it's it's seen a little bit more as a cost center at times, it's not always able to support itself as a revenue generation or the bank. So those things make it a little bit tougher. As a long term career in the sense of like, it's pretty rigorous. You're subject to market moves, you're subject to like earning season the hell of earning season.

Intern 1: [00:07:14] And even the fact that you probably want to go to somewhere where the action is right. You don't want to sit in equity so that you probably want to join a fund if you're pretty good at it. That makes a lot more I mean, monetarily.

Patrick (CEO of WSO): [00:07:26] To buy more upside.

Intern 1: [00:07:27] Yeah exactly. Than sitting in L for a long, long time. Yeah.

Patrick (CEO of WSO): [00:07:31] Yeah. So like if you're to, if you're really good at looking at stocks and analyzing companies, theoretically hedge fund may be a more interesting path for you or even even just a long manager, like a fidelity even then. There's still some place where you can pick stocks. It's not all ETFs yet.

Intern 1: [00:07:52] Yeah.

Patrick (CEO of WSO): [00:07:53] Not all baskets. So does that help, Walter? I mean, I don't want to discourage you because I think if you really have a passion for it, that's great. Just. Just know kind of that it's not the easiest path. It's very competitive to get into. And, you know, I think you're thinking about it the right way. What's first potentially to get into in order to kind of show my interest. But I think keep a high GPA. If you're really passionate about it, you should be writing about specific names. Maybe if you can if you know specific sectors or industries you're interested in, start trying to cover like 5 to 7 names and see if you can, like, track them and like form an opinion. Yeah. Start building models. Yeah.

Intern 1: [00:08:38] Start building over two or three years of school. You could, you could have a good track record of like where you went wrong, where you went. Right. That matters a lot in er like people like if you start writing reports now and you're able to find a pattern where you can see where, where the stocks are headed like. And then once you're recruiting you could send those reports to.

Patrick (CEO of WSO): [00:08:57] People or even publish it online.

Intern 1: [00:09:00] Yeah, publish start like seeking alpha actually.

Intern 2: [00:09:03] Speaking of that, so the university that I'm going to, they have a valuation class where the class is pretty much just based on evaluating a given company and you write an equity research report by the end of the class. So I was kind of looking forward to starting that class as soon as I get into that university and kind of build like a fundamentals of this is how it's this is how the report is written, this is how you actually evaluate the company.

Patrick (CEO of WSO): [00:09:33] Yeah.

Intern 2: [00:09:35] Yeah. And later on I could do that in my free time and then kind of like put that on my LinkedIn and just kind of show my tracks.

Patrick (CEO of WSO): [00:09:42] Absolutely. I think that's critical. My only point was just starting as a junior. They're like, I don't know what you said. You're graduating. Next fall.

Intern 2: [00:09:52] Or sorry, this fall.

Patrick (CEO of WSO): [00:09:54] You're graduating. So it's six months or so?

Intern 2: [00:09:58] Yeah, in about six months.

Patrick (CEO of WSO): [00:09:59] Yes. It's you know, once you kind of get through this, it might be a good it might be good for you to start. You don't need to wait for that class to learn how to write an equity research report. Okay. I think you could do you could Google it and start just following a name or just doing something and then it'll actually make that class probably more interesting in the sense that you'll be able to like dive deeper and it'll be really easy for you. Yeah, you kind of do that. I just think if that's the way you want to go, like you're starting junior year, right? You're not starting freshman year. So it's like you don't have a ton of time to be doing that. And like, I'd actually. Highly, highly suggest that. I don't know how much networking you're doing right now.

Intern 2: [00:10:41] Yeah. So I'm trying to work for I don't know if, you know, principal financial. Mm hmm. So I'm really trying to get into that.

Patrick (CEO of WSO): [00:10:50] Like work with like an internship program or something.

Intern 2: [00:10:53] They do have an internship, but you have to at least start your CFA or be an MBA student. So that's what I'm just going to I'm just going to wait until my senior year once I at least past CFA one and then start applying to that. I've actually applied to to like some internships, but since I'm in a two year institution allowing them to take me. Yeah. So I've got to wait till I get into the four year.

Patrick (CEO of WSO): [00:11:18] Yeah. But, but I wouldn't wait to get into the four year before you start talking to people in the industry.

Intern 2: [00:11:24] Okay. Yeah.

Patrick (CEO of WSO): [00:11:25] That's my point. Like, and I wouldn't I wouldn't put all your eggs in the basket of this principal thing. I would. Because, who knows, maybe a senior you apply and they're like, No, sorry. And you're like, Oh, that's what I was planning on doing forever. And so like maybe this summer after you work through this, you could potentially like if you could get something in July. For August. Get through the. Get through the episode. Think fast. That's probably going to land. Having this internship on your resume will probably land you a lot more opportunities and equity research that potentially as an intern somewhere, maybe a small little research shop somewhere.

Intern 2: [00:12:00] Yeah.

Patrick (CEO of WSO): [00:12:01] And that would look really good. Even if you're only, like, fetching coffee. Just having a name on there and looking at the models that they built, looking at how they did, like channel checks, all that stuff is just going to it's going to make you more well-rounded. And more importantly, you can start building the relationships in the industry. So do you use are you leveraging LinkedIn right now? I know you're saying, oh, not a lot of people are like they won't take me as an intern. But what about. Yeah, what about like just connecting with people?

Intern 2: [00:12:33] Yeah, I'm definitely growing my LinkedIn currently.

Patrick (CEO of WSO): [00:12:36] What are you are you looking to stay and are you looking to stay in Midwest long term?

Intern 2: [00:12:41] Yeah, I'm looking to stay in the Midwest. It seems like, as you know, the East Coast is where or like other places is where. That's where you can actually get the good jobs. But here it's seems a little limited.

Patrick (CEO of WSO): [00:12:53] There's a lot less there. But I mean, so I would I would highly recommend that you. Treat this this internship, you get through it as fast as you can, and then you actually start. You know, start or alongside in parallel, you start reaching out to like. I don't know.

Intern 2: [00:13:16] I applied to Barclays and I did like the assessments, I guess. They have a really long assessment and you do a video interview and you do review.

Patrick (CEO of WSO): [00:13:26] Yeah.

Intern 2: [00:13:27] Yeah. And so I've done that. So I'm just going to kind of like I just did it to do it. But we'll see if I actually hear back. But it's for actually next next semester or Nassau next summer. So if they if they contact me on me, I'm willing to go anywhere, even if it's to the UK just to get the.

Patrick (CEO of WSO): [00:13:45] That's great. Yeah. My only point is like, you know, dropping your resume, getting a higher view here and there is the odds are still so stacked against you. So the only way to start tilting the odds in your favor, especially if you're at an isle which is like Midwest, you're not on the East Coast, you're not in New York. You're not the way to tilt the odds in your favor and give yourself a better shot are to actually build a ton of connections in the industry and then keep up to date with them.

Intern 2: [00:14:09] So. Can I ask this, though? Because I've I've listened to a lot of podcasts and other interviews, so so I think we talk even other people, they talk a lot about like connecting with other people. But how do you. I feel like I'm really good at building rapport with people. But how do you actually ask the question of like, hey, I'm interested. For example, I'm talking to a person that is an equity research analyst. How do you actually tell them like, hey, there's a job opening, can you try to get me in like without sounding too forceful or you know, or whatever?

Patrick (CEO of WSO): [00:14:44] That's a great yeah, it's a great question. I think there's always like that nervousness or that, like, do I explicitly ask, do I explicitly bring the resume or do I send the resume versus like just having a conversation? I think for the most part, you don't need to ask. I think if they like you, they will typically say, hey, well, let me send me your resume. Let me put put in a good word. But while you can be like, oh, wow, really, I greatly appreciate it, there actually is a role, an associate internship or whatever role that would be interesting to me. But, you know, I really appreciate anything you can do in terms of just letting me interview. That's typically how it goes. But I think where you're going to if if you're going to build a rapport, you're comfortable on the phone, you have to think of it as like selling yourself as a sales funnel. So you want to make sure the top of the funnel is as big as possible and you're putting in as many leads as possible too, that if you don't do that, you're not going to get enough phone calls. You're not getting enough phone calls to to convert into interviews. Right, because you're also not going to be good at interviewing the first few times. Yeah.

Intern 2: [00:15:50] Terrible at it.

Patrick (CEO of WSO): [00:15:51] Yeah. Even if you thought it's funny because some people think they're good and then they're like, I don't know why I'm not getting any second rounds. And it takes a long it's a skill, just like anything else in the networking calls will actually make you a better interviewer. It'll help you kind of hone your story. You'll get off the phone call and be like, Oh, I can't believe I said that. That sounded so bad or That was cheesy and you won't do that again. So like getting that, like developing that skill where you're like getting good at selling yourself and connecting to people that are where you want to be.

Intern 2: [00:16:22] Yeah.

Patrick (CEO of WSO): [00:16:23] Is the absolute most important thing you could ever learn in your career. Like by far. Like even if you're a complete moron, you know nothing about evaluation, whatever. If you're like an incredible networker or schmoozer, you can get really far. It doesn't mean it doesn't mean you won't get fired on the job later, but you could actually land a job just like by people liking you and seeing and asking the right questions.

Intern 2: [00:16:48] Okay.

Patrick (CEO of WSO): [00:16:48] Yeah. So, like, I think there's a lot of like, hey, I'm going to get to school, I'm going to take this course, and this course is going to make me more valuable or like give me the skill set where I can talk about it more. And then I think as long as you're showing like interest in, you're asking like legitimate questions around like, what's the the day to day like or what names are you covering? What industry is it? Do you find that interesting? How long you've been there? What's like what's your plan? Are you going to stick around? You know, how does that look? If you're asking these types of questions in terms of like, I think it's I think it just shows a lot of curiosity, a lot of drive. And I think they're going to want to probably try to help you, especially if you can find alum from Iowa or alum from the Midwest.

Intern 2: [00:17:32] Yeah. Actually, the guy that I spoke to, he's he's an alumni for for Iowa. He told me about that valuation class and he actually works for that specific bank. And he also after the call, he also gave me his email and told me to stay in touch as I progressed there. So I think that that sounds like a good a good.

Patrick (CEO of WSO): [00:17:52] Leader, one that's one person. But that's great. But you did you did that on that on that one person. He wants to help you. Yeah. So, like, imagine if you had ten people like that.

Intern 2: [00:18:04] I agree.

Patrick (CEO of WSO): [00:18:05] Pulling for you, then you're in really good shape because you know, you're at least going to get two or three interviews coming out of junior and junior year for full time. If you have like ten people that really like you, you're going to be in good shape at least to land that first round interview. And then hopefully by that point, you've you've done the class, you kind of know the talk, you know, you've done our valuation course. You done our DCF modeling course. You kind of like. Have the chops to to not just talk the talk, but walk the walk in terms of knowing all the lingo and stuff like that.

Intern 2: [00:18:35] Yeah, exactly. Well, thank you for answering all my queries.

Patrick (CEO of WSO): [00:18:38] Yeah. Good luck, man. It sounds like you're on the right path, so keep it up. I would just say, just like, ramp up. The networking is what I always tell people. You've heard my interview, like, just ramp it up.

Intern 2: [00:18:46] Yeah, you can.

Patrick (CEO of WSO): [00:18:48] You can connect to people in about 10 seconds. A person on LinkedIn, you can request 100 connections a day. You'll probably get like 10 to 15 new connections a day. And from there, maybe 10% will actually get on the phone with you. So that means you could be having a call almost every day from somebody with a CFA or in equity research. Within a few months you could be having one to. You know, let's say three calls minimum a week with these people. It's crazy to think about that, but it's true. Though, especially if you're not limiting yourself to just Iowa. They are Midwest. Then you have a huge pool to work with. But anyways, yeah, thanks for the thanks for the thoughts and you're on the right path. Investment bankers study Damodaran and learn all the valuation there is to learn agreed yesterday. Damodaran Dan, he has some great articles in terms of valuations of different companies at different stages. Some really interesting stuff. Go back in history. Somebody else had their hand up. Was it you?

Intern 1: [00:19:51] Brandon? Brandon.

Patrick (CEO of WSO): [00:19:53] Brandon. Do you have a question?

Intern 3: [00:19:55] Yeah. I think there's something in the chat if you want to get to that first because I think it's probably more valid than what I'm going to ask.

Patrick (CEO of WSO): [00:20:01] Oh, what was I going to say?

Intern 3: [00:20:03] There's a little bit further up.

Patrick (CEO of WSO): [00:20:05] Okay. What are the chances of landing a role in beside side equity research directly after college? Is that possible? Um. You know, I'm not sure, to be honest. I'm sure there's places you could get it straight out of college, but you probably have to show a lot of. A lot of knowledge and I've been doing the networking and have that track record a little bit prior to being given that opportunity. I wouldn't I'll never say it's impossible. It's just probably it's a longer shot. So in that sense, I'm not as well versed in equity research, to be honest, because I didn't do it. That's a good question. I think probably possible, but very hard as it would be my guess.

Intern 1: [00:20:54] You'd have to work a lot in college. Just build up that rapport like get get reports.

Patrick (CEO of WSO): [00:21:00] And impress some people with what you're.

Intern 1: [00:21:02] Exactly. But then getting into the big banks. Yeah, that might be hard. They'd still look for something. Some experience here.

Patrick (CEO of WSO): [00:21:09] Yeah, they're too structured.

Intern 1: [00:21:11] Yeah, but small shops. Yeah, for sure. Anything's possible.

Patrick (CEO of WSO): [00:21:17] How much math is too much. I'm doing some articles about microeconomics in general and uses a lot of math, but I know most people don't like it as much as I do. Lewis. Is this around, like the types the article you're writing, I'd say. If you're talking about, like, integrals and like. Like marginal utility. Micro. Like marginal utility, I think. You. Microeconomics is a huge topic, so it's very tough to like tell you not to go there. But I really focus on more like the keywords around microeconomics and those topics are subsets of topics. So like I don't even know what the main topic Center Micro is, even though as an economics major, can you remember like marginal utility and unit economics? I don't even know. Yeah. But I would say some math is fine, but I wouldn't go crazy deep, like complex on it. Then I think you're going to end up with a 10,000 word article. Let's see. Brandon says as emailing the CFA Institute, you apparently can just start early. I registered in my third year, but they won't let you write level two till you graduate. It's a little funky, but it's an option if you want to start early. Thanks, Brandon.

Patrick (CEO of WSO): [00:22:30] For the tip.

Patrick (CEO of WSO): [00:22:33] Um. Anybody else? Any other questions?

Intern 3: [00:22:38] Yeah, I just I'd like to click this and I kind of asked something similar to this before, but maybe I just want to clarify something really. Like for the word count, I should probably target it to be approximately similar to our competitors. Like if they're writing something that's like 4000 words, I'd write close to 4000. But if they're writing like 800 words, I'd.

Patrick (CEO of WSO): [00:23:01] Probably want to keep it around about 800. 1000? Yeah, ideally. More. Ideally, a little bit more.

Intern 3: [00:23:08] Yeah. I think I've added more to some of the articles that I've done by comparison, know what the competitors are doing, but like one of them, I think three or four of the articles were like 800 words and I stretched it out to like 1500, but. Without making a whole new article in each subsection, right?

Patrick (CEO of WSO): [00:23:26] Yeah, I think that's the challenge because sometimes you'll have a broad topic like microeconomics, but then under the economics branch we have like 15 articles that could theoretically fall under micro.

Intern 3: [00:23:39] Yeah, I was doing, I just finished my like private equity transaction stages or timeline. I mean cool and like, so one of them, let's say like was quality of earnings. And I know that's like it's full own.

Patrick (CEO of WSO): [00:23:50] That could be a total thing. You know what, we're releasing a private equity deal process course soon B2C and we'd be training and training private equity funds on this. That might actually be interesting to get that deck over to you to see how it compares to what you wrote.

Intern 3: [00:24:05] Oh, sure. Yeah, for sure. I think it's in review right now. So like, okay.

Patrick (CEO of WSO): [00:24:10] We'll see what we can.

Intern 3: [00:24:10] Make, any changes. Um, and then one more other thing. I don't know who was just on, but you were saying. Yeah, like start doing some of your own equity research. One of the things that was suggested to me, I just think it maybe it's.

Patrick (CEO of WSO): [00:24:23] Relevant, but you're.

Intern 3: [00:24:25] An equity research analyst or not an analyst. An associate was telling me he started like sort of like an anonymous substack through Twitter, and he just released his like equity research. And it was just a fun thing for him to do, but it's a good way to get some practice. And I think he charged like $10 a month for people to do it. So you can make some money doing it, too. It's a fun way to do it. And I guess when you go into like an interview, you can say like, here's what I've done and.

Patrick (CEO of WSO): [00:24:46] Like, Yeah, and if you're actually really good and detailed, yeah, you have like work to show, right? Yeah. You can build up a little audience, but it's like, you know what if like 100 people actually subscribe to you, you get a grant a month for your work, you know?

Intern 3: [00:25:00] It's awesome. Yeah, that was the idea, right? So, yeah, I thought that was probably useful.

Patrick (CEO of WSO): [00:25:05] That's great. I love it. I love it. Especially if, like, you're not in the most obvious names. If you're in like the middle market or like small cap worlds where the coverage is like one analyst or like something like that. And you're not like covering Apple or Microsoft or Google and you're going after these maybe smaller caps, like maybe you're like focused on like solar or like mining or something like that, or like you just, you understand a specific subsector and you go deep on those. You'd be surprised, like how quickly you can build a name for yourself on Twitter or whatever, because like people are always looking like other analysts in research are always looking at like who's writing about their names to learn more. And so that's a great way to get ingratiated with, with the people who are already doing it and be like, wow, this kid is super sharp. That's a good point. I hadn't realized. Obviously, you probably want to practice or write a few before you start like releasing them out and get feedback.

Intern 3: [00:26:02] Idea how many people did it to, which was kind of surprising because the one guy I was talking to, he like just sent me this list of people who like anonymously post equity research.

Patrick (CEO of WSO): [00:26:12] Yeah. Very cool. I love it. I think it's it's very smart. It's obviously a lot of work. But if you're going to be doing it for your job, it's like, what better way to show that you're capable than actually doing the work and showing that you have a passion for it? It's very it's much it's so much more powerful in an interview to be like, well, actually, I've been writing equity research for two years. Right. And specifically on these names. And then they ask you and then they drill down on the names and you know it and then boom, done. You're like you're like you're so much further ahead than other than other college kids who haven't been doing that. So. I love that. Anything else from people here? Oh. And is this your first week on here? And I think I recognized your name. I definitely recognize you, Brandon. Thanks for showing your face. No offense to people who have their camera. Camera. Maybe anything else. Patagonia vest. Yeah. Everyone asks for the Patagonia vests. I think you guys will like the t shirts when you get them. Yeah. I thought I recognized your name. Welcome back. Hopefully next week we'll get a much bigger showing. I think we'll move it back to the normal time when it's not so late. I mean, a lot of people we have a lot of people in India and in Dubai and all around the world in Europe. It's really late there for them. So I'm Pacific Time, so I selfishly moved it because I was going to get back to my desk in time. Anything else from people. We can call it if there's nothing else. Nabeel Anything else you want to highlight to the small group here?

Intern 1: [00:28:03] No, I think. I think we're good. Yeah.

Patrick (CEO of WSO): [00:28:05] Okay, well, we'll keep it short this week and. Yeah, thanks so much, everybody, for joining. And yeah, stay tuned for more updates from the from the chat. You'll notice we're giving shout outs to people now as things go live, get things live just to keep people updated in terms of like what's actually what the team is putting out. So I think it's more it's exciting. It's motivating. Yeah. I heard.

Intern 1: [00:28:28] Everybody will be doing that.

Patrick (CEO of WSO): [00:28:30] Talk soon. And thanks to you, my listeners at Wall Street Oasis. If you have any suggestions whatsoever, please don't hesitate to send them my way. Patrick at Wall Street. Oasis. And till next time

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