Speaker 1
There are pipes that take years to get kind of, they're designed to run. They're not designed to be flipped o. And so all the things that have been driving a disrupting supply and driving up commodities prices makes me even more interested in owning domestics and owning having access to the individual companies, some of which that we've been investing in, ah, that are not affected by that. So i wouldnt have never guessed at this a combination, maybe a some part just kind of chaos in the equity market and everything bubble, things coming down. Everything has really, really correlated inaquities ad maybe there's this kind of correlation of one on panic days. But it seems like a really good opportunity. Ye, ye. What do you think of one thing i've thought about, i've called it going wild. Ca eriht, the market is forecasting that all these energy companies are going to take their huge craft foas. And they're not the markets hemet not doubting the tast flow market tallion that they'll ver get the cash. All right, the companies will wild catter and drill lots of wells that turn out to be uneconomic, do lots of awful emona, something like that. And that's one theory for the markets concerned. So far, we haven't seen companies go wild catter like most of them, or saying, hay, we learned our lesson. I 20 15. We're not that to go drille like crazy. We're going to take this cash, pay down debt an turn. I. Shildes, do do you think ther the market is missing petef that go wild tat or odds? Or do you think there's something else going on? My experience with a kind of, especially small cap companies in industries were mostly extraction industries, but where the people involved are very specific that industry, like, you know, certainly oil and gas explaration, on wild catters. And them like gold miners, like their whole lives are denominated in that thing, like they'll never, they'll never be great a acid allicators. Ther won't be thas t they won't, like, pull back for five years. Were slke, they're going to spend whatever. A and biatac. That certainly can be same thing to like, like, it's hard to, it's hard to have a lot of confidence and management from a general perspective that isn't always interested in that industry. Am so, so it's always, it's always one where i, you know, i guess that's the reason why you'd generally like, it's cleaner to own the commodity than equity. But that seems to be so overdone right now. And i don't know why it would be worse now than than usually. Part of my hope is that hopeor part of my a kind of foolishness, is just market correlates with one in panics, and we're in a kind of miny, soft panic right now.