Welcome to The Compound and Friends. All opinions expressed by Josh Brown, Michael Batnick, and their castmates are solely their own opinions and do not reflect the opinion of Ritholtz Wealth Management. This podcast is for informational purposes only and should not be relied upon for any investment decisions. Clients of Ritholtz Wealth Management may maintain positions in the securities discussed in this podcast. Hi,

guys. I'm Josh Brown. My friend Brendan Ahern is the founder of CraneShares, which also happens to be the sponsor of this week's episode. And I wanted to let you know one of my favorite information sources is Brendan's very good China last night email blast. Every night, Brendan stays up till probably, I'm guessing, 1, 2 a.m. He's got the latest headlines coming from Asia, all of the stuff that may or may not affect the next day's trading. And he puts it all together into a really great, easy to read summary, all the headlines you need, the backstory behind the headlines when necessary. And he's really covering everything, whether it's Chinese ADRs or it's currency stuff or it's political things or trade or the US dollar, just you name it. Brendan gets it in there. He's a very good writer, very succinct, most importantly. So I would send you to craneshares.com or chinalastnight.com to learn more. Thanks to Brendan. Thanks to crane chairs for sponsoring the show. Ladies and gentlemen, this is a live recording of the compound and friends. You guys have made this one of the top podcasts in all of finance. We appreciate it so much. Give yourselves a round of applause. Thank you so much. Thank you. If I wasn't double fistfisted, I would be applauding you right now. You guys make the show possible. When we do live recordings, you're actually part of the show. So if we say something that sounds good, feel free to applaud. If we say something that's ridiculous, feel free to make a funny sound. If Michael is talking too long, feel free to cut him off from the audience. I want you guys to have as much fun as possible. And we really have a truly special guest today. Someone who I think the majority of attendees at this event are familiar with, despite the fact that he does not typically attend industry events, which we're going to get into the reason for why. Painfully shy is my theory. I want you all to give a warm welcome to Peter Malouk, who is the president of Creative Planning. Peter was chosen as the number one independent financial advisor in America for three years straight by Barron's and was selected as one of Worth Magazine's Power 100 for two years straight. Peter was a recipient of the Ernst& Young Entrepreneur of the Year Award. CNBC named his company Creative Planning the number one independent wealth management firm in the United States. In 2017, Barron's named Creative Planning the number one independent wealth management firm in America. Peter Malouk, thank you so much for being here. All right. So we're going to start off by making you blush a little bit. Can I have my chart, please? Chart on.