Ep 2: Understanding the Stock Market

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Welcome to Market MakeHer's podcast episode on "Understanding the Stock Market: A Beginner's Guide." In this episode, we will dive into the basics of the stock market and provide you with the tools to make informed investment decisions. We will explore the major indices and their composition, the role of consumer spending, and external factors that affect the stock market. Join us to learn how to navigate the stock market and secure your financial future.

Episode Equity

What is the Stock Market?

The stock market is a dynamic marketplace where individuals and institutions can buy and sell publicly traded companies known as stocks. Whether you're new to investing or have some experience, understanding the stock market is crucial to make informed investment decisions. Just like the name it is a market for stocks.

The Three Major Indices: Dow Jones, S&P 500, and Nasdaq

The stock market is commonly measured by three major indices: the Dow Jones Industrial Average, the S&P 500, and the Nasdaq. While the DJIA is comprised of 30 stocks and is price-weighted, the Nasdaq has over 3,500 stocks and is market cap-weighted. The S&P 500, on the other hand, is considered a broad-based view of the market and consists of 500 stocks across various sectors.

Charles Dow created the first index ever, the Dow Jones Industrial Average, which is comprised of 30 stocks such as Disney, Apple, Visa, McDonald's, and Nike. It is price-weighted, meaning that the stock with the highest price represents a larger piece of the DJIA. However, as the DJIA only comprises 30 stocks, it is not considered a good view of what is happening in the market overall.

The Nasdaq is a tech-heavy index, including over 3,500 stocks such as Apple, Amazon, Tesla, Nvidia, and Google. It is market cap-weighted, meaning the largest stocks hold the largest weight in the overall index, making it less holistic as it is too sector-heavy.

The S&P 500 is considered a broad-based view of the market, consisting of 500 stocks across various sectors, and is market cap-weighted like the Nasdaq. Some stocks found in the S&P500 are Apple, Target, Starbucks, Mastercard, and Chevron. It is commonly used as a gauge of the overall market as it has a variety of stocks that span across all the sectors.

Indices have methodology and requirements that dictate what type of securities can be found within them, and often stocks are removed and added to the index depending on if they meet criteria. One stock can be in multiple indices!

“The stock market is a collection of publicly traded companies that can be bought and sold. Its valuation is driven by various factors, including the performance of the underlying companies, the state of the economy, and consumer spending habits and behavior.”

The Consumer: A Critical Factor in the Stock Market

Consumer spending habits play a significant role in the stock market, as increased spending can lead to increased sales and profits for companies, which can drive up (or down) stock prices. Investors often look at economic events to understand the overall health of the consumer and the impact of their spending patterns on the stock market.

More money, more spending! For example, low unemployment means consumers have more income, leading to more spending, and driving the price of stocks up.

Everyone wants it, it’s more valuable! When consumer demand for a product increases, the price of the stock usually goes up. A great example is when Chat GPT, a language model created by Open AI, gained 100 million users within the first few months of its release. This large amount of demand pushed up the price of Microsoft's stock as they own Open AI.

The Ripple Effect: External Factors that Affect the Stock Market

Several external factors can impact the stock market, including high inflation, high interest rates, a strong dollar, consumer confidence, supply chain issues, and fiscal policy. These factors can affect consumer spending habits and behavior, ultimately driving the valuation of the stock market.

High inflation occurs when the cost of goods and services becomes too high, causing the spending power of the dollar to decrease. High interest rates are often raised by the Federal Reserve in response to high inflation, which can lead to consumers cutting back on discretionary spending, causing the stock market to go down.

A strong dollar can impact companies with high global revenue as they may sell products in other countries. Consumer confidence is a significant factor in consumer spending habits as people are more likely to spend money if they feel secure about their job and the future. Supply chain issues can cause fluctuations in the prices of goods and services, such as during the COVID-19 pandemic where supply was limited globally, causing prices to increase due to scarce products.

Fiscal policy such as tax decreases or stimulus checks can create more money and subsequently increase spending. It's essential to understand these external factors as they can affect the stock market and ultimately impact investment decisions.

What did we learn about the stock market?

The stock market is a dynamic marketplace where individuals and institutions can buy and sell publicly traded companies known as stocks.
Major indices such as the Dow Jones Industrial Average, the S&P 500, and the Nasdaq are commonly used to measure the stock market's performance. (The S&P 500 is the best gauge of how the stock market is doing because it has the broadest variety.)
Consumer spending habits play a significant role in the stock market, and increased spending can lead to increased sales and profits for companies, which can drive up stock prices.
External factors such as high inflation, high interest rates, a strong dollar, consumer confidence, supply chain issues, and fiscal policy can impact consumer spending habits and ultimately affect the stock market.
Understanding these external factors is crucial in making informed investment decisions and securing your financial future.

Jessie's Questions

Q: How does the stock market measure the market's performance?
A: The stock market's performance is measured collectively through something called an index. The three major indices commonly used are the Dow Jones Industrial Average (DJIA), the S&P 500, and the NASDAQ. These indices represent a collection of stocks that are used to gauge the overall performance of the market. Changes in the index values, expressed as points or percentages, indicate whether the market is up or down.
Q: What are the three major indices used to measure the stock market?
A: The three major indices used to measure the stock market are:a) Dow Jones Industrial Average (DJIA): Created by Charles Dow, it consists of 30 large, well-established companies representing various sectors.b) S&P 500: This index includes 500 large-cap stocks from different industries and is considered a broader representation of the market compared to the DJIA.c) NASDAQ: It is heavily weighted towards technology stocks and includes over 3,600 companies.
Q: What is the difference between price-weighted and market cap-weighted indexes?
A: Price-weighted indexes, such as the DJIA, give more importance to stocks with higher prices. In contrast, market cap-weighted indexes, like the S&P 500, consider the total market value (market capitalization) of the companies included. Market cap is calculated by multiplying the stock price by the number of shares outstanding. This means that larger companies with higher market caps have a greater impact on market movements in market cap-weighted indexes.
Q: Can a stock be included in multiple indexes?
A: Yes, a stock can be included in multiple indexes if it meets the criteria for each index. Companies can be part of different indices simultaneously based on factors like market capitalization, industry sector, or specific requirements set by the index provider.
Q: Are there other indexes besides the major three?
A: Yes, there are numerous other indexes beyond the major three. There are specialized indexes focused on specific sectors, regions, market capitalizations, investment styles, and ethical considerations. These indexes provide investors with a broader range of options to track and invest in specific market segments.
Q: What is the debt ceiling and how does it affect the stock market?
A: The debt ceiling refers to the maximum amount of debt the U.S. government is allowed to borrow to finance its operations. When the government reaches the debt ceiling, it cannot issue new debt without raising the limit. The debt ceiling can cause uncertainty and potential disruptions in the financial markets, including the stock market, as it affects the government's ability to meet its financial obligations and impacts fiscal policy decisions.
Q: How does consumer behavior affect stock prices?
A: Consumer behavior plays a significant role in determining the sales and revenue of companies. Higher consumer spending tends to benefit businesses, leading to increased sales and potentially higher stock prices. Factors that influence consumer behavior, such as employment levels, interest rates, and overall economic conditions, can impact stock prices as investors assess the potential for companies to generate profits based on consumer demand.
Q: Can you explain the concept of market capitalization (market cap)?
A: Market capitalization (market cap) is a measure of a company's total market value. It is calculated by multiplying the current stock price by the number of outstanding shares. Market cap helps determine the size of a company in the market. It categorizes companies into different segments such as large cap, mid cap, small cap, and micro cap, based on their market values. Companies with larger market caps generally have a greater impact on the overall market movements.
Q: What do large cap, mid cap, and small cap mean?
A: Large cap, mid cap, and small cap are terms used to categorize companies based on their market capitalizations: Large cap: Refers to companies with market capitalizations typically above $10 billion. These are often well-established, mature companies. Mid cap: Represents companies with market capitalizations between $2 billion and $10 billion. They are generally considered to be in a mid-stage of growth and development. Small cap: Denotes companies with market capitalizations between $250 million and $2 billion. These companies are often in early stages of growth and may offer higher growth potential but also higher risk.‍
Q: How do interest rates impact stock prices?‍
A: Interest rates can influence stock prices in various ways. When interest rates are low, borrowing costs for businesses may decrease, encouraging investment and potentially boosting stock prices. Additionally, low interest rates can make stocks more attractive compared to fixed-income investments like bonds. Conversely, when interest rates rise, borrowing becomes more expensive, which can impact business profitability and investor sentiment, potentially leading to downward pressure on stock prices.‍
Q: What is the role of fiscal and monetary policy in the stock market?‍
A: Fiscal policy refers to government decisions regarding taxation and spending, while monetary policy refers to actions taken by central banks to control the money supply and interest rates. Changes in fiscal and monetary policies can impact the economy and financial markets, including the stock market. For example, government spending, tax policies, and regulations can affect corporate profitability, consumer behavior, and investor sentiment. Central bank actions, such as interest rate changes or quantitative easing, can impact borrowing costs, liquidity, and investor expectations.

Episode Transcript

Jessie: Welcome to Market MakeHer an investing education podcast designed to help you navigate the stock market and achieve financial empowerment from her perspective.

Jess: In this week's episode we are understanding the stock market and how it works.

Jessie: I'm Jessie DeNuit here to ask all the questions that a beginner unfamiliar with the world of investing would want to know

Jess: and I'm Jess Inskip the finance expert here to answer and explain all of those questions you ask

Jessie: and today our theme is hats that's why I'm wearing a witch hat

Jess: and I decided to wear my Nasdaq hat since we're talking about the stock market and we'll talk about the Nasdaq

Jessie: yes so since today episode 2 is what is the stock market and how does it work… Jess, what is the stock market and how does it work?

Jess: it's a marketplace where you were to buy and sell stock. just a lot of buyers and sellers that are put together. it's a place just like you would go to the mall, and you want to buy a sweater you want to buy some jeans or some new shoes. it's a place that you can buy and then say you could go back to that mall and sell them back. so, it's just buyers and sellers in one place and that's it.

Jessie: like when you go to one of those Plato's Closet type places Poshmark any of those where like sometimes that purse someone might have bought 10 years ago had like it's gone up in value or it's more valuable now or absolutely so you can sell it for more money or sometimes it goes down okay

Jess: that's a great analogy. James got me a Chanel bag for my birthday and that actually beat the stock market last year and it's a type of… investment

Jessie: what

Jess: yeah it did

Jessie: how does a bag beat the stock market?

Jess: it went up in value and then there's a Marketplace for that. Rebag. so I could take my Chanel bag that went up two thousand dollars worth of value and sell it back on rebag. so it's just a marketplace where you buy and sell items that's all the stock market is.

Jessie: okay that like makes it seem so much easier to understand. okay so we know what the stock market is like the concept of it and what is like bought and sold traded in the stock market so what would be the next thing we need to understand how it works?

Jess: how we would measure it or how we look at the stock market a lot of time on TV you'll say oh the Market's up 100 points so we're down 300 points today that's just how we measure the market the market is just a collection of stocks that are bought and sold your brokerage firm connects you to that Marketplace or re-bag did the same thing when I bought my Chanel bag the stock market is measured collectively through something called an index the three major indices come into play the Dow Jones the S&P 500 and the NASDAQ now let me preface this with those are the three major indexes that we talk about on TV all the time or that you probably hear there are hundreds of indexes.

Jessie: indices and indexes are the same thing these are the ones that we hear about all the time.

Jess: that's right and that's just a measurement of the stock market because all it is is a bunch of stocks collectively together and it gives you a value if I were to take all of the purses in my closet and say how much they were worth or even my whole neighborhood my purse could be the purse index and then my neighborhood would be my neighborhood index.

Jessie: okay I'm backing up to a very basic question how would you define an index then you're saying it the indexes are ways to measure how the stock market is performing or how like a certain set of stocks are performing?

Jess: yeah it's actually both so it is a certain set of stocks and that's why there are a lot of indexes and we narrow it down to three that we talk about because they give you different views of the overall Market. the Dow Jones Industrial Average that was actually the first index ever created by a guy called Charles Dow way back in the 30s and it only has 30 stocks in it 30 of the biggest stocks Disney's in there McDonald's Nike Visa Home Depot really really big companies but there's only 30 stocks so there are thousands of stocks across the stock market it's not a good gauge of how the overall Market it is doing because it's just a super super small collection

Jessie: indexes are different groups of stocks we have three major ones that we always talk about we can kind of measure how the stock market is performing based off of those major three indexes

Jess: that's right there's criteria to be in an index it's like the elite club of stocks so you can't be in that elite club unless you meet those requirements and if you don't meet those requirements you're going to be kicked out and somebody's going to take your place and I suppose the Dow Jones Industrial Average might be the most elite of clubs because it only has 30 spots available for 30 stocks but that’s why it’s not a good measurement though.

Jessie: okay that makes sense yeah 30 that's like not much

Jess: exactly okay so that's why you have the S&P 500 that is broad-based 500 Securities it covers every sector has all the stocks that are in the Dow Jones Industrial Average and then some and that one is market cap weighted that's a term that we should talk about so mark cap is going to be your biggest stocks so Dow Jones Industrial Average is price weighted so that just means if you have the highest price you are the biggest player and the S&P 500 it's your price but how many shares you have outstanding so if you're a hundred dollars and only just for example purposes have a hundred shares you are going to be worth less than somebody that's a hundred dollars but has a thousand shares because that's a bigger market cap you see what I mean so it's your total market value that determines how much weight you have in the index

Jessie: yeah hold on we gotta like go over that again Dow Jones is price weighted and then S&P 500 is market cap weighted I still don't understand what market cap weighted means

Jess: so market cap just takes it a step further if you have one Chanel bag keep going to bags and I love this if you have one bag that's worth ten thousand dollars but there's only one that's available that is not telling you how the handbag Market is doing at all. but if you've got a hundred bags worth ten thousand dollars each that collection is worth way more than that one and that's just an analogy for a stock price and the amount of shares that are available

Jessie: okay so the Dow Jones is price weighted and you're saying that's more just like the price of the one bag that's the difference where the Dow Jones is looking the price of one bag whereas the S&P 500 is Market weighted and looking at the whole market like how many shares there are in each stock it's a bigger picture I guess

Jess: yeah it shows how big the company actually is so let's separate it out between Brands so you've got one Chanel bag worth ten thousand dollars but then you have a hundred Louis Vuitton bags worth three thousand dollars each the Louis Vuitton is a bigger company than Chanel even though Chanel is more expensive what the methodology of the indexes are saying is yeah that Chanel bag is more expensive but this Louis Vuitton collection is so much bigger and should have more importance than Chanel the price of the security times how many shares outstanding and that equals [market cap]

Jessie: literally taking notes as you're talking got a notebook

Jess: the NASDAQ look at my hat um is that's very Tech heavy so and it works just the same as the S&P 500 the difference is is it isn't as broad-based that one has over I think it's 3600 stocks now so it has the most stocks but they're mostly in the technology sector it's a little it's broadened out but it's mainly Tech if you wanted to know the health of the stock market overall which just means what are the prices of all of the stocks right now the best gauge is the S&P 500 because it has the most variety and it's also market cap weighted

Jessie: then you said there's tons more indexes than just those three right?

Jess: so many so the S&P 500 is supposed to be the 500 biggest stocks in the entire Market the biggest companies and you're the biggest company based on your price and how many shares exist and you know what those biggest stocks are right now?

Jessie: apple or…

Jess: oh you nailed it

Jessie: okay it's like what else would it be yeah um…

Jess: Microsoft Apple and Amazon but they have the highest price stock and the most shares so they end up driving the market is what we call it because they have the ability to move the market quite a bit because they are the biggest companies

Jessie: are these only American companies?

Jess: there are indices that cover everything the Dow Jones is mostly domestic or us-based anything that's Tech heavy has Global exposure so like apple you can buy an iPhone in any country and so their revenue exposure revenue is just where you're making sales is everywhere so anything foreign can affect the NASDAQ more because it's Tech heavy which has the most Global exposure

Jessie: that makes sense I feel like we should like have a section for Jesse's notes on our episode equity on the website we have your beautiful infographics and you're then I'll be like and here's Jesse's notes because

Jess: I love them

Jessie: I'm like wait what is this

Jess: so going back to Apple. Apple is actually in the Dow Jones Industrial Average it's also in the NASDAQ and it's in the S&P 500

Jessie: so I was going to ask that so these yeah these index indexes can totally have the same stock like you can't you don't have to have one stock in one index you can be in

Jess: so many yeah because your index is just a measurement of something within that criteria okay that's all and you can decide

Jessie: so if you fit if you're a tech company but you're a big tech company like Microsoft you can be in the NASDAQ and also the S&P 500 and since Microsoft's so big probably in all three of them right also Dow Jones?

Jess: yeah I believe it is in all three of them. Know that's not up to the company, that's up to the indices.

Jessie: the requirements of the indices okay

Jess: that's right if you are good enough to be in the elite club

Jessie: right and if you're not good enough to be in any of those three major elite club indices then you're just in a smaller one?

Jess: you are, so that brings up a another really popular one called the Russell 2000 that is made up of small caps and that's called the value index you have a lower price or lower share volume so you don't meet the criteria to be in those Elite clubs because you're not the biggest company.

Jessie: so when you say small cap large cap what do we what is that like what is what do we mean cap?

Jess: so large cap is your big corporations 10 to 200 billion mid cap is 2 billion to 10 billion so still big but and then small cap is 250 million to 2 billion and then there's micro cap which is 250 million or less you don't have..

Jessie: I didn't even know there was a micro cap I'd never even heard of that!

Jess: all of this you don't need to memorize literally yeah pull up stock quotes it has all this information for you

Jessie: I think it's just good to know because I've seen the like the large cap medium cap I've seen it like looking at things to buy it was very confused I was like I don't even know what these things are I don't know what these things mean I definitely don't want to overwhelm our listeners because this is supposed to be beginner and it is these are all things that you're going to see even if you've never looked at anything regarding the stock market or a stock we're gonna break this down and I'm asking these questions now because it might come up later I think as people start actually kind of like looking at things they're gonna see oh that's that large cap thing that I heard them talking about

Jess: going back to Apple as our example their market cap is 2.76 trillion that's why it's one of the biggest stocks in the entire Market their share price is 175 dollars this is as of Friday which is May 26th this is for example purposes disclaimer yes so their shares outstanding are that is $15,787,154,000 so that number times their share price of about 175 dollars per share gives you the 2.76 trillion figure

Jessie: and that means that's what makes them large cap because they're into that they're in that large category

Jess: yeah they're way way over

Jessie: so we covered the big three indexes or indices those are how we get a health check of how the stock market is doing right

Jess: value the index that's all it is is what's the value of that index now normally somebody say oh the Dow is this right now up 100 points that just means the change collectively

Jessie: yeah I never understood the points like how do you know okay so the points translate to dollars or?

Jess: yeah it's the terminology that is so unnecessary it's literally dollars

Jessie: okay so what does the consumer have to do with the price what do we all have to do with the price?

Jess: Apple is such a good example primarily their sales come from iPhone sales we want to know is there anything in the world that affects consumer Behavior and the consumer is just you and I that's why we look at economic indicators to figure out what the stock market's going to do because the stock market not only is it just a gauge of prices people are constantly trying to figure out what price everything is worth is understanding if people are going to spend money if there are more people willing to buy then it should go up in value they're going to have more iPhone sales it's literally that simple if there's record low unemployment that means everybody has jobs and if people have jobs they have an income and if people have income they like to spend the money consumers love to spend money and normally when there's record low unemployment there is a higher stock market the cost to borrow right now interest rates are going higher which means it's going to cost more interest for you to put on your credit card or you're less likely to go buy a house

Jessie: or you just don't want to spend all that extra interest money on buying a house right now

Jess: that's going to hurt stocks that are primarily focused on housing what is going to affect consumer behavior and where are they going to spend their money that's how consumers Drive stock Revenue if you pay attention to Trends because the stock market is literally around you like I know we're not going into sectors but we can very briefly sectors just we talked about technology that's literally Apple this microphone in front of me all these lights any company that is touches the development of that and then utilities that's my light bill and my electric company um I don't think mine specifically is not public but a lot are that's the first thing you're going to pay the last thing that you won't pay so that's why utilities tend to be kind of this safe type of investment because they have less risk of people not paying their bills because we need our electric electricity

Jessie: I never even thought about that yeah like that makes a lot of sense like I never even thought about investing in utilities I'm sure I do I don't I don't know where or how but yeah that makes sense

Jess: it's in the S&P 500 because that's broad-based that's why people always say in like all of these money gurus the passive investing which means you just mirror your portfolio to the S&P 500 because it will always be the biggest 500 companies and know that they go in and out of that elite club if you were to take the 200 years of the S&P 500 it is not 200 years of the same stock at all

Jessie: I think it's worth saying so we're we're getting really like deep deep into what the stock market is and everything and I just don't want to scare off our listeners that have not ever started yet or don't have a 401k yet or have not invested anything in the stock market or if you have and you have no idea what's going on in there because we're going to get to all those things and help everyone but like we're trying to understand how all this works together so that we know how to make informed decisions when we do start investing our money and actually making those choices

Jess: and know that there is so much to explain and you don't have to know all of this at all and we'll have resources but if you want to have those good conversations and just want to understand how it works and honestly get the peace in mind out of it because a lot of what people are going to tell you is to invest passively in indexes like this that have select criteria to be in that elite club that's so you don't have to be a stock picker because somebody already has methodology to pick stocks for you

Jessie: so okay we talked about the consumer and how we can affect prices of the stock we talked about how interest rates like when housing or mortgage loan interest rates are higher that also affects stock what about the debt ceiling?

Jess: yeah so those are all external factors that affect consumer spending the debt ceiling is an example of fiscal policy and interest rates is monetary policy those again are just fancy words for very simple things fiscal policy is just what the government decisions do that affect you so the debt ceiling just means that we're actually we are the only country that has a debt ceiling first of all

Jessie: really I didn't even know that

Jess: yes okay it's just a set of control in our spending so it's like saying hey we've got too much credit card debt when we hit this let's reassess

Jessie: oh it's like your max limit for your credit card okay

Jess: if they were to raise the debt ceiling which apparently they made a deal over the weekend but we're not getting into this um too much on this podcast so don't worry um but all it means is we can go ahead and spend on what we agreed on it does not mean that they're going to have more spending it's just like oh we already agreed that we're gonna spend on the inflation reduction act or whatever please authorize that spending that we already said we could do we just hit our limit remember during covid and a lot of people got stimulus checks that affects consumer Behavior more because you're more likely to spend money because you've got it and you could have spent that on your utility bill you could have spent it at McDonald's those are all still stocks that are public companies that would make the market move in value inflation does the same type of thing if things are more expensive and you don't have more money you're going to spend less everything comes down to how much money do people have and are they spending it it's really

Jessie: the people have the power so they do let's make wise decisions with how we spend our money and who we want to give it to you I would love to have an episode on ethical investing and just like you know obviously like we want to invest for money and making money like you know retirement whatever but like it'd also be cool to dive into who we want to invest our money into what companies like we actually want to give our money to and oh yeah still try to make a profit or make money for a retirement

Jess: and you absolutely can there are so many ways to look at that um we call it ESG so the economic social and governance and you can screen stocks based on that criteria and even have portfolios of your own there's even indexes that track that so there's so much we can get into and the thought behind that is is say you are having really bad practices you're a company and you are maybe in electronics but you dump everything in a river and then that's the way that you dispose of your waste well if there's like this government regulation that comes in that says you can't do that anymore you're now going to have a big expense but your other companies that already took those ethical standards aren't going to have those big expenses and maybe even have tax incentives to keep doing that so ESG investing can actually lead to really big profits because of things like

Jessie: that a fiscal. that's how a fiscal policy can affect the stock market essentially versus the consumer exactly interest or whatever you'd call it okay yeah well I think I understand all of that

Jess: the purpose of today's episode is just to say the stock market is just a place where stocks are bought and sold the consumer it affects a lot of sales which makes the value of those stocks go up and down and those stocks are commonly measured on three major indices which is the Dow Jones Industrial Average the NASDAQ and the S&P 500 the S&P 500 is by far the best gauge because it's 500 of the biggest stocks that are on the market and it's broad-based which means it has that diversification that everybody talks about so it's technology utilities clothing just a lot of of everything we see around us which means it's a good gauge because it's a lot of things to watch that's it that's today's episode It's A Wrap

Jessie: that should be the tldr version of this episode listen to the end Jess will tell you very simply what it is thank you for joining us on this episode of Market makeher podcast don't forget every episode comes with episode equity which is an article and all of the questions that I asked today you can find this and more on our website Marketmakeherpodcast.com that's Market makeher h-e-r-podcast.com

Jess: that's great and we also have a section to contact us if there's any questions that Jessie asks that you want more clarification on or anything that I said that makes zero sense or a topic that you want us to cover let us know in that contact us section and don't miss out on future episodes where we'll continue to demystify the stock market subscribe or listen on your favorite streaming app and you can watch us on YouTube and see our theme of the week which this week was hats we are also open to suggestions for themes that you would like to see as well you know we gotta have a little fun and stay tuned for next week's episode where we will break down what a stock is and how it works and remember and when you build knowledge you break barriers.