Investing expert Chris Camillo (Twitter @ChrisCamillo @DumbMoney ) joins Benzinga founder Jason Raznick to make sense of 2023's dizzying tech rally, AI innovation and more.
Join The RazReport for expert, in-depth interviews with industry leaders every week on BenzingaTV exclusively on YouTube.
Premiered Jun 16, 2023.
Join The RazReport for expert, in-depth interviews with industry leaders every week on BenzingaTV exclusively on YouTube.
Premiered Jun 16, 2023.
Category
🗞
NewsTranscript
00:00 They are the leader in this space and I think likely to be one of the biggest beneficiaries of this
00:06 cultural shift that we're seeing. With anything you hear in this interview, just take it as an
00:11 idea and just start your research and make your own decisions. Tesla, this is really important.
00:16 I think one of the most underappreciated parts of Tesla right now is their humanoid.
00:22 I used to do a lot of out of money stuff, no longer because I feel like a lot of the out of
00:26 money stuff these days with all the new generation of investors that are doing crazy FOMO stuff,
00:31 they go a little overboard and they run up the premiums on that stuff.
00:36 All right, we got the man, the myth, the legend, Chris Camillo on the Raz Report today. We're
00:48 going to do a short 20-minute one to get an update. Before, Chris, we talk about any stocks
00:53 or anything like that. I have to know if you're still intermittent one meal a day. I know the
01:00 benefits you told me in Arizona, but let's go. Are you doing that? Jason, I will be intermittent
01:06 one meal a day for the rest of my life. I told you that, man. This is not a short-term thing.
01:12 So Chris, did you like in high school run track or something?
01:17 I threw discus. I almost went to state, believe it or not.
01:23 Because you're a pretty disciplined guy.
01:26 I'm pretty disciplined. Yeah, I know. I wrestled in high school and did some football and discus.
01:32 Yeah, I mean, listen, dude, I'm just a disciplined guy in general. Absolutely. But it's not for
01:39 everyone. SMU. Dude, I didn't learn anything in college, dude.
01:44 I just want to know if you did well in high school.
01:48 I was the bottom 25 percent. I think bottom 10 percent of my class, my high school class.
01:54 Yeah, I did not do well in high school. I did do pretty well in college.
02:00 But let me ask you a question. When you say didn't do well in high school,
02:03 is it because you didn't care? You were still disciplined, but you just didn't care on it?
02:07 Like maybe you did well in the female category. You did well in sports,
02:10 but you just didn't care about, you know, the academics part.
02:14 I was aloof and my brain wasn't ready for academics. I just was a little immature. I mean,
02:22 I don't know if I'd call it immature. I just wasn't feeling it in high school. I didn't really
02:27 care. And even if I did care, I wasn't really capable of achieving anything academically
02:33 at that age. I just like I wasn't developed to that point. My brain maybe wasn't.
02:37 All right. So you're going to do intermittent fasting one meal a day for the rest of your life.
02:42 And the reasons are one of them you told me was inflammation. You had a bad back.
02:47 That pain went away. Is like what were. For eight and a half years, my pain has never,
02:53 ever been below a three on a zero to 10 scale. And it usually hovers around a five.
02:58 And for weeks at a time, it might be an eight or nine. Dude, like nothing has helped. Literally
03:04 nothing. I go to physical therapy every week for four years. It helps a little.
03:10 Within six weeks of intermittent fasting, my pain went down to a zero. It's the craziest thing I've
03:16 ever experienced in my life. Like I'm sitting in this chair. I used to not be able to sit in a
03:21 chair for more than 15 minutes without being in excruciating pain. Like the inflammation is gone.
03:27 Also, this is the first winter of my life that outside of having COVID for a few days,
03:34 I did not get sick. My allergies, no sore throats, no flu. My entire family was sick, I think twice
03:41 with my wife basically coughing in my face at night. And I did not get sick for the first time
03:48 in 48 years. Dude, like your immune system like accelerates. The pain goes away. The inflammation
03:57 goes away. By the way, the brain fog is gone. I think the reason why I'm having such a big year
04:02 as a trader is because there's no brain fog. My energy is back. I feel like I'm 20 years old
04:07 again. Dude, it is a miracle. And for those that can't do it for whatever reason, and it's not hard
04:12 dude. It's not hard. After like five weeks, four or five weeks, you don't want to eat. And by the
04:17 way, you can have as many cheat days as you want. I have cheat days. Like I'll do a cheat day with
04:20 my family for brunch or something like that. It's not hard dude. But if you can't do it,
04:26 the rest of the world has Ozempic man. So like it's it which does a lot of the same thing in
04:33 terms of like getting you to eat less and just be healthier and drink less and all that stuff.
04:39 And it helps you reduce your appetite. So when you're want to eat, like today, I have not eaten
04:44 a thing yet. And I didn't eat yesterday, I think but then I haven't kept it fully and I got to go
04:51 back to it. I was doing the I was doing the eight hour thing right eight eat from like 12 one to
04:56 eight. And then I did a few of the one days and I think I just have to go back to it. I just think
05:00 I just just get it's also staying busy, right? And listen, not to sound like one of these TikTok
05:07 body hacking guys. But I will say also, ending every shower with as cold as it gets for like 45
05:15 seconds, life changing. And delaying I do have one little small black coffee a day, but I won't
05:22 allow myself to have it until about two hours after I wake up, which allows all the chemicals
05:28 from your brain to naturally flow through as they should in the morning. And it just that is life
05:33 changing. So yeah, intermittent fasting, cold showers, and like delaying your coffee or caffeine
05:41 intake a couple hours. It that all works together and dude, it's wild. And and I know Chris's screens
05:50 may be a little blurry, but it's because he's on the beach, but and he's on this Wi Fi. So it was
05:55 in but Aaron said it's not a big deal. He'll get the direct fee. But But one thing, two things. So
06:00 people are probably thinking, well, does he eat healthy during that time when he does that he
06:04 eats whatever. The other thing, Chris, what you should know is that I think about you when I
06:09 shower now almost every day, which is really not exciting. But I do I do for like 25 seconds,
06:17 because I just get bored my ADD gets the best of me. I do the cold shower for the last 20 seconds.
06:22 Did I tell you the trick to make sure you can make that happen? If you're if you're like hesitant to
06:27 do it, you have to physically yell at yourself and say, Jason, don't be a choose your word be a be
06:38 whatever you want to call it. Don't don't you be today to get Come on, man. Like you just got to
06:44 like like ridicule you got to ridicule yourself to where you're embarrassed. That's what they taught
06:50 me this weight loss, this group, this monster group that they did. And you have to say don't
06:54 be Yeah, and yeah, okay. So that's how you do it. Okay. Because I'm about to get like a cold plunge
07:00 in my house, like, but we'll see. I haven't done it yet. We're like cold plunge. And that's a lot
07:06 and you can pull that off. Good for you. That's all for me. It's just man. And you live in Detroit,
07:10 the water is so cold in Detroit, you just turn that shower to ice cold. And that's it. That will
07:16 do 95 90% of what you're right. I know I don't Dana White has that red laser thing he does.
07:22 I haven't done that. I haven't done any of that. But I know that that's been hot for a few years.
07:28 And people swear by it. And so yeah, that that that's good as well. I think. Okay, so all right.
07:36 Now we talked with Chris Camillo on health, okay, intermittent fasting. But now we're getting to the
07:41 stocks tech stocks. Chris Camillo is having another great year. Him and I share picks. I give him hub
07:47 spot. I don't give him that many. But hub spot was one of them. I went goes up goes down. I didn't
07:51 do it. I didn't do it. I know. I bought it at 60 went to like four 500. I sold it at like 350.
07:57 Then I bought it back at 290. And now it's at five something. I think it's gonna eventually
08:02 get bought out by someone and I'm staying long but I'm big into well, you know, those epic plays
08:09 Lily and vo and then there's a derivative play. So let's talk the healthcare ones quick. We got
08:16 another like 15 minutes left. Okay, so before we talk about the company, because I think you're
08:22 wanting to talk about in mode, I think, right? Let's just talk. Let's talk about how we got
08:28 there. Right. So I my favorite social arb trades. And by the way, I don't know how you introduced
08:34 me, but I'm Chris Camillo from dumb money.tv. I'm a social arb trader. So I essentially try to detect
08:42 change early in the world, whether it's culture or consumer behavior, and connect the dots to
08:47 investable opportunities in the market, whether they be long or short. I've been doing this for
08:52 15 years. I didn't say all that because I just figured everyone knew but yeah, go ahead.
08:57 All right, maybe they know and then for anyone that wants to dive in deeper on this on my YouTube
09:02 channel, dumb money live also Jack Schwager's unknown market wizards. And I tweet about all
09:09 my stuff at Chris Camillo and dumb money TV as well. So but listen, there has been a massive
09:16 cultural shift the last couple of years. And it's been driven by filtering and AI.
09:23 When it comes to beauty online with, you know, tick tock Instagram, what you'll notice is that
09:30 nobody actually looks like they actually look online anymore. This is not like a huge surprise.
09:35 It's something that we've all been able to see. But if you're deep into social analysis, like I am,
09:41 I spent about three hours a day interpreting social data, you'll notice that there's been a
09:46 pretty massive uptick the last few months with like AI filtering that is so exceptional for video
09:54 that it's no longer still images, everybody that's doing video live, which is hundreds of millions
09:59 of people globally, now all have these filters, and they look really good. Bottom line, they just
10:05 look really good. So they have to try to make that up in their real life. So they try to match
10:12 their online persona in real life. So there's not too big of a discrepancy. So I identified this
10:19 trend and noticed that, you know, we know about the lip fillers. I was actually one of my big
10:24 trades many years ago, when it was a Kylie Jenner started announced that she did lip fillers with
10:31 allergen. So I started with lip fillers. And we now have all kinds of like what we call non-invasive
10:40 or minimally invasive things that you can do to basically make yourself look better, to make your
10:47 skin tighter all over your body, right, to make your skin better. And this is now accentuated by
10:57 both the online AI filtering that's making everyone look so good online, they're trying to catch up
11:02 with. And also going back to Novo and Lily with Ozempic and Monjuro, it's going back to these
11:10 weight loss drugs. So the entire world has just begun this cycle of shrinking. So we're going to
11:16 have a situation in the next two to three years, where millions to tens of millions of people are
11:21 literally going to shrink on these weight loss drugs. We're talking 10 to 25 as much as 30% of
11:26 their body weight. But what happens when you're on these drugs, and you lose all this weight,
11:30 whether through intermittent fasting, like me, I've lost 20 pounds, or whether you're on Ozempic,
11:34 your skin starts to get a little flabby, because the fat goes away, but the skin doesn't go away.
11:40 So a lot of people are trying to figure out how do I tighten that skin. And you could obviously
11:45 have plastic surgery, but it's crazy expensive, obviously invasive, and most people just don't
11:51 want to do plastic surgery. So in addition to things like injections, and makeup, and creams,
11:57 there are procedures that are called microneedling, and then a form of microneedling,
12:04 which is called radiofrequency microneedling, and then deep radiofrequency microneedling,
12:11 where these microneedles basically go, you know, thousands of them go underneath your skin,
12:16 on your face, and all over your body. And then they have radiofrequencies, and it goes in,
12:20 and it's a minimally invasive procedure that you get done two or three times once a year,
12:25 or every couple years, that gets you like a third to half the way that you would get to when if you
12:31 were to have an actual facelift, or actual plastic surgery, which is just wild. Now it does cost
12:38 thousands of dollars, a hundred to two thousands of dollars, but it's way less expensive than
12:43 plastic surgery, and way easier. Like you know, in a couple days you're totally good again. The
12:48 redness goes away, and like oh my god, it's like you just had plastic surgery. It's wild, right?
12:52 So the leader in this category, and by the way, you know I'm not a financial advisor, this is just
12:58 kind of what I'm doing in my own account, so please, with anything you hear in this interview,
13:02 just take it as an idea, and just start your research, and make your own decisions.
13:06 But there's a company called InMode, I-N-M-D is the ticker, and they are one of the leaders,
13:14 if not the leader, especially when it comes to deep radio frequency microneedling.
13:19 And they're a publicly traded company, they kind of went, they had a big boom cycle during the
13:25 pandemic for whatever reason, and then there was a short report that came out on them,
13:29 mainly due to the CEO having a somewhat of a, I don't want to say a shady history, but a suspect
13:37 history with his former company where he left, and then immediately got permission to sell all
13:42 of his shares. So there's a little bit of a concern around the management team here at InMode.
13:46 So the company has come way back down, but they are the leader in this space, and I think
13:52 likely to be one of the biggest beneficiaries of this cultural shift that we're seeing, primarily
13:59 of females. And it's not just females in their 50s and 60s, or even 40s, believe it or not,
14:04 if you speak to people that own med spas, they will tell you that they are seeing females in their
14:10 20s and 30s getting these procedures done as a preventative measure, because they're just so
14:16 anxious, and there's so much anxiety around the way females look right now, and we're seeing more
14:22 single females than ever before. So what does that mean? It doesn't just mean that they want to look
14:26 good because they're single. What it means is that they are controlling more of their purse,
14:32 right? Because they actually are working, they have their own money that they can
14:38 expend in any way that they want, and we're seeing a massive cycle of female empowerment
14:43 and female financial independence where women are able to spend their money where they want to spend
14:50 it. And recent surveys have shown that women would rather spend money on the way they look over the
14:57 way that they... I mean on self-care than on clothing, than on apparel, which is really amazing,
15:04 right? So they actually care more about this stuff than they do about apparel, and we already know
15:09 how much they care about apparel. So I think this is the early stage of a mega cycle, and InMode
15:14 just happens to be in the right place at the right time, and minus the one big, big risk factor,
15:22 which is like a super deep recession that would make it really difficult for people to spend the
15:27 money on these procedures because they're not cheap, that being a big risk factor. Other than
15:32 that, I think they're really well positioned to be the primary beneficiary of this cultural shift
15:39 that we're seeing in the world right now. So that's kind of how I think as an observational
15:43 social arm investor, and that's the trade. Now, and I just showed their site, how do you know
15:49 the competition for this face tightening, body tightening, neck tightening? Like, have you
15:54 looked at that? Like, I know this is... Yeah, there is competition. There is... No, you could make a
15:59 case that InMode Morpheus 8 machines, that's their primary, kind of their newest, best machine,
16:05 it is the kind of the market leader in terms of deep radio frequency microneedling, and what they
16:13 have going for them is Kim Kardashian, like all of these mega, mega celebrities partnered with them
16:20 and really kind of gave them a big reputational tailwind. But there are competing machines out
16:26 there. And listen, Jason, I think that a lot of these machines are going to benefit, okay? So it's
16:31 like, they're not the only game in town, but they're kind of the market leader in a space
16:36 that should, in my mind at least, theoretically go through a mega cycle of expansion. Because
16:42 the people that buy these machines, they cost six figures, or like $100,000 to $125,000.
16:46 They're financed, and the people that buy them are dermatologists, med spas, and they have to
16:54 finance these machines. And they have to pick one of the four or five major manufacturers. But InMode
17:01 is like one of the very biggest. And they're still just scratching the surface. I think they only have
17:07 like 8 or 12% of the theoretical skin, missions, I can't say that word very well, actually utilizing
17:18 their product. So there's a lot of runway left in this industry sector. And they're doing things
17:24 beyond just skin. They're evolving the radio frequency to machines that can actually help
17:31 correct vision. There's all kinds of additional stuff. But that's not my primary thesis, right?
17:35 Primary thesis is women with more money wanting to look great. And this is like the best way to
17:40 do it beyond just buying makeup, and they don't want to get plastic surgery. So it's a sweet spot.
17:45 Yep. If you go to their website, you can see who would then what places in your location have the
17:51 their technology. So I just went to their site to see that. And so you buy you bought the common
17:55 stock. I'm also along the stock guys. And I have a few options, not a lot. Do you buy more stock,
18:01 more options? How do you make your position? So I sometimes it's equity, sometimes it's options,
18:07 sometimes it's both. In this case, it's both. So I have a combination of equity and call options.
18:13 I honestly don't know what my options are offhand or when they expire. I usually just buy options
18:18 and continue to kind of trade, trade them up and trade them up. Options when you buy options,
18:23 are they like a year from now? You know, like, no, I never buy. I rarely, hardly ever buy options
18:28 a year down the road. The premium is just too high. So I usually buy options that expire either
18:34 right before or right after the next expected earnings date for that company. And the reason
18:40 why I sometimes buy options that expire before earnings is because hedge funds and institutions
18:48 have access to transactional data and channel data. And usually they kind of have an insight
18:54 into how a company is doing even before earnings. So if I am interpreting social contextualized
19:01 data sets, which is real time, which beats their data, I have a feeling that they'll catch up to
19:06 me, but probably catch up to me before the earnings date, which not always, but usually
19:11 happens. Also in the case of InMode, I think if they have a decent, a good quarter, like I think
19:16 they will, I think they're likely to, there's a decent chance of them pre-announcing, you know,
19:24 results before the quarter. So I didn't want to spend that extra, I don't always want to spend
19:27 the extra premium to like buy options after earnings. Again, I honestly don't recall which
19:33 options I have on the stock, but that's my general strategy. But let's say, I don't, we're not going
19:39 to give you your position sizing, but let's just say you had a hundred thousand dollars of the
19:42 common stock or a million dollars of the common stock. You had a million dollars. How much of an,
19:46 how much in options would you play? Would you do 10%? Like I'm just personally. Yeah. So like,
19:51 I rarely would buy like a million dollars of options. I would buy a million dollars of equity.
19:57 That's not unusual for me. Usually when I want to kind of have an accelerator on top of that,
20:03 I'll maybe spend a hundred thousand dollars, maybe $200,000 on options to go along with the equity.
20:11 So maybe I'll buy anywhere between 10 and 30% of what I spent on equity. I'll kind of overlay it
20:16 with some options. And usually my options are either at the money or slightly in the money.
20:21 Listen, I used to get, I used to do a lot of out of the money stuff no longer because I feel like
20:26 a lot of the out of money stuff these days with all the new generation of investors that are doing
20:30 crazy FOMO stuff, they get, they get a little, they go a little overboard and they run up the
20:35 premiums on that stuff. And I just don't find a lot of value in out of the money options these
20:39 days, unless you're really confident of a time window from when you think something is going to
20:45 hit. Because, you know, social arbitrary investing is all about investing when you see something that
20:50 others don't appreciate, but you also think that others will get some information in the near
20:55 future to allow them to see what you're seeing and the stock should, you know,
21:00 and so by buying at the at the money or in the money, if the stock goes down a little bit,
21:04 you're not totally screwed because you're in the money or at the money.
21:07 Also, Jason, the issue is with this volatile market, you can't trust the market right now,
21:13 right? So the market's been great the last couple months, but you just can't trust this market. So
21:17 if the market gets hit 5%, 8, 9%, you know, it doesn't matter if you're, you know, you pick the
21:22 right company, you're probably going to get hit. So you want to have a little bit of, at least me,
21:27 I want to have a little bit of cushion there in these sorts of markets, at least.
21:30 Got it. Got it. So that's how you will play an option. And then so it's like 10 to 20%.
21:35 Okay, we have time for one more. I saw you put something out yesterday on Tesla,
21:40 talking about the humanoids, the robots inside the thing. What was your?
21:46 Yeah, that was that was a clip off of a dumb money show that we actually did a few weeks ago
21:51 when I went in on Tesla for the first time. And the timing was pretty great. Like I went on Tesla,
21:56 like right before the run. And my thesis was, I mean, you're up, you're up like 60% this year.
22:02 Yes. 65, 70% I think on the year so far, which a total portfolio return, which is freaking nuts.
22:08 But you know, I have.
22:11 So you don't hold that many stocks then?
22:12 No, no, no, I don't. And for those that don't know my history and haven't read the Market
22:17 Wizards books, I do have, I think now a 16 year track record of 60 something percent annualized
22:25 returns, which I know sounds fake, but it's been audited by Jack Schwager and others and Business
22:30 Insider. I think this is my 16th year of having an open audited track record on my investing. So
22:36 yeah, this has been a great year. I'm hoping to hit like 100% return this year if it keeps going.
22:41 But so last year was last year wasn't as fun though, right?
22:45 No, last year I made some critical errors, mainly getting too involved with NFTs that kind of
22:52 distracted me. It wasn't that I did terrible last year. It's that I missed a window to having
22:57 another incredible year. And last year was probably the worst year I've had in over a decade.
23:02 I want to say my account was around break even. I might have lost some, I don't know, but it was
23:06 roughly around even-ish, which really hurt for me. But Tesla, this is really important. I think
23:14 one of the most underappreciated parts of Tesla right now is their humanoid project.
23:22 Really, people aren't talking about it enough. They're not focused on it. Now, I happen to
23:28 probably know more about humanoids than most investors because I'm also invested in a private
23:34 humanoid company that's been developing humanoids for the past seven and a half years.
23:38 And I just happen to know that the acceleration in hardware development for humanoids in the
23:44 last 12 months has been like a hockey stick. So I'm really excited for the private company I'm
23:50 invested in. But I also happen to know that Tesla is in the right place at the right time
23:56 because, you know, push forward 12 to 15 months, 18 months, I think they're going to have a pretty
24:02 impressive humanoid and it will be scalable at Tesla. And I think they are going to be
24:07 light years ahead of all of the other major manufacturers that want to get into the humanoid
24:12 space. And I think the humanoid business can be as large, theoretically one day be larger,
24:19 than the automotive sector. And I think Tesla is positioning themselves to be a leader in that
24:25 space. I just happen to have insight into humanoid development. And I have been told by people I
24:32 trust in this world that within three to five years, we will have humanoids in that 30 to
24:39 $45,000 range that will be able to do almost anything that you need them to do for logistics,
24:47 manufacturing, these are generalized humanoids. And then after that, we will be able to have them
24:52 in commercial businesses as well as in the home. So just imagine humanoids literally doing everything
24:58 from picking up dog poo to doing your laundry. I think that's not the next five years, but within
25:04 five to 10, that is absolutely a realistic thing that could happen. Even in the home. I think the
25:10 humanoid industry, how it impacts logistics, though, and manufacturing, and so many other sectors,
25:19 is just being under appreciated by the market. And Tesla is one of a handful of companies that
25:26 is in a position to really scale out a humanoid project over the next decade. And I think if,
25:33 you know, not if, I think it's a matter of when, when the market realizes that this is going to be
25:39 a thing, just like they didn't believe in AI and now everybody believes in AI. And by the way,
25:43 everything I just said about humanoids was prior to this AI acceleration in the last three,
25:49 four months, right? So you add what's happening in AI with humanoid hardware development,
25:53 dude, it's mind blowing. I think that's the most interesting story about Tesla. The second most
26:00 interesting story about Tesla is the coming refresh cycle. Tesla does not have normal investors.
26:05 They have cult, they have, excuse me, customers. They have cult customers that are passionate
26:11 about the brand. They are generally wealthy, and they've never gotten to really experience a full,
26:17 real refresh cycle, meaning a new line of vehicles that are built on a totally different platform.
26:23 Elon has now said that is coming when, who knows, but let's just say in the next three years,
26:28 right? That's coming along with the Cybertruck. And I think that refresh cycle that Tesla is going
26:34 to go through is just totally underappreciated because I think it's like the majority of Tesla
26:39 drivers, the second that refresh cycle happens, they don't care. They're getting rid of their
26:44 Teslas and they are in, they're just going to spend, they're going to be in on that refresh
26:48 cycle. Kind of like the app, remember the first mega iPhone refresh cycle? That was underappreciated
26:54 too, okay? Because the first generation of iPhone owners, kind of like the first generation of Tesla
27:00 owners, were wealthy and passionate. And they were going to buy that new iPhone at any price,
27:07 and they were going to just going to do it. They were just going to get rid of their old one,
27:09 they're going to do it. So that's my Tesla thesis. Tesla, I also said a while, about a month ago,
27:15 I feel like the perfect amount of Tesla for me to own, to never have FOMO, is 4% of my portfolio.
27:22 So that's what I did. I have 4% of my portfolio in Tesla. Now I might increase it over time,
27:29 I might buy options when I think they're going to have a good quarter, but like 4%, I'm going
27:33 to try to stay there forever, right? It will be 4% of my portfolio. My portfolio used to be 70%
27:38 because I bought it at $8 like pre-split and I didn't buy much and then eventually took over my
27:43 whole account. But I was an idiot back then because when the stock kept going up, I never bought more
27:47 because I liked to see my percentage gain. I didn't look, you know, it doesn't matter what
27:51 your percentage gain is, it matters what the absolute dollars. So when the stock went from
27:54 $8 to $200, like I wasn't buying more shirts because I just wanted to see percentage gain
27:58 6,000%. And it still bothers me to this day, like I'm buying more INMD, you know I started the
28:05 position, you know, I increased it greatly, but I like seeing big percentage gains, but I have to
28:11 get rid of that because that's the absolute dollar is really what matters. Yeah, so getting back to
28:15 the risk factors there, deep recession could be a problem. Also, there's one other risk factor I
28:20 think about because they finance all these machines that if the cost of financing goes up too much,
28:26 that could be potentially a negative. I don't know, maybe the company's subsidizing the financing.
28:32 They should crowdsource that financing. So you know what's really cool Jay, so right now the
28:37 majority of the revenue comes from selling these $120,000 machines. But they have a subscription
28:42 revenue and every single time you use one of these machines on a person, you have to use a cartridge.
28:47 Those cartridges obviously come from INMODE. So that's like a subscription on usage, right? So
28:53 that piece of the revenue pie is relatively small. I want to say 15%, 20% of the revenue,
29:00 but it's growing. It's growing fast and eventually that subscription revenue is going to get so large
29:06 once they get more machines out that I think we're going to see a kind of a flipping happening in the
29:12 next three to four years when their subscription revenue, you know, kind of becomes a larger part
29:17 of that company. So all very exciting. These investments all come with a risk, obviously.
29:22 Everybody should do their own homework. The management risk is out there as well.
29:27 Do your own research, make your own decisions. But that's kind of my analysis. And we've done
29:32 some shows just on this at Dumb Money Live on YouTube. You want to see those shows?
29:37 Well, that's what I was going to say. You also have a position, you know, on Tap,
29:41 Molson, and you can see those at Dumb Money Live. You can see his shows. You can see Chris. We're
29:44 going to have Chris on a lot more often, getting updates. I follow Chris's picks. But also maybe
29:50 we'll just do a health show because you've changed your life with this intermittent fasting. And I
29:55 know we talked about it when we were in Phoenix at the game about who is the player that was getting
30:00 injured, the point guard for the Suns. And I'm like, Chris, come on, yell to him and say, tell
30:06 him about your intermittent fasting. You know what I'm talking about? The point guard, Chris.
30:10 I think so. I forget his name, but yeah, I think so.
30:13 The main guy, the main guy who got injured in the playoffs. And I was just thinking about our
30:18 conversation because he's like a health nut. But I don't know if he ever did the intermittent
30:21 fasting. He got injured and didn't play in the final games against Denver. But the intermittent
30:27 fasting, what were you going to say? No, I was going to say I agree. And I talk
30:32 about that on Twitter too. And honestly, everything that I'm doing and seeing, for the most part,
30:37 I openly just tweet about it @chriscamillo. Or same thing, dumb money TV on Twitter as well.
30:45 But I'm just very open. I don't sell courses, as you know, because I'm a little bit different from
30:50 other financial people on the internet. I just really enjoy what I do. And I want to bridge the
30:58 entire world into the investor class. And I just want to inspire people to start observing their
31:04 lives around them and start connecting dots to become an active investor.
31:09 You're not a technical trader. You're a fundamental trend following.
31:12 Social arb observational investor. Not fundamental, but I don't look at charts,
31:18 and I don't look at stock price, and I don't look at PE. I don't look at any of that stuff.
31:22 What was the social arb website? What was that called way back when that you had?
31:25 The website that I had? No, whatever the small thing I invested in.
31:31 Like it was the data. Oh, small, ticker tags. Yeah. So I had, I was the first.
31:36 I couldn't remember the name. I had a social intelligence company with Jordan McClain,
31:42 my business partner. And we basically taught hedge funds and investment banks how to extract
31:48 contextualized data off of Twitter and to connect to see what the world was talking about, right,
31:55 in real time. And we connected the dots back to publicly traded securities that would benefit or
31:59 be harmed by that subject matter. And we were one of the first to do that on Wall Street. And I will
32:04 say this. Don't be afraid of Wall Street and their army of staff because I guarantee you still 2023,
32:11 they still don't know how to do this stuff. Like it's absolutely wild. The retail investor,
32:17 especially people in my community, know how to do this way better.
32:20 I remember during COVID, everyone was buying boats. They were buying tubes. They were buying
32:24 Polaris, all those things. Remember those trades that we were doing way back when?
32:27 In retrospect.
32:28 Outdoor stocks.
32:29 Obvious.
32:31 I know. So like, what about that? The Yeti, like all those freaking things.
32:37 Everything.
32:37 It was so obvious. But it's like in the, like this in mode to me seems so obvious.
32:43 But I'm actually going to go to the medical spa tomorrow that I know this lady who owns
32:47 her. I'm going to message her and see if she uses it. If she is in on it, I'm all in.
32:52 So remember this. It doesn't matter which one they use because it's a class of machine.
32:57 And just ask her generally about the class of machine, about radiofrequency
33:02 microneedling. And so if I want to search for the growth of this on Google Trends,
33:07 I can search for Morpheus 8, which is the name of their machine.
33:10 But what I generally search for is microneedling or RF microneedling. And you could see that
33:17 increase in searches just climbing. That's representative of interest, consumer interest
33:24 in the category.
33:25 I won't mortgage the house, but you know, we'll figure it out.
33:28 Absolutely. There's risk factors in any investment, right?
33:32 No, I know. You never know what's going on inside. Never go too hard in one thing
33:36 because you never know. There's always risk factors. Even if Tesla comes with new cars,
33:41 there's always risk factors. There's always risk factors.
33:43 By the way, Jason, I think you guys had some journalist out at our premiere of
33:49 This Is Not Financial Advice at the Tribeca Film Festival. I don't know if you're going
33:52 to be able to watch the film or not. I hope you did.
33:54 Luke Jacoby was there. He said it was great. He loved it. I wish I would have been able
33:59 to come. My son had to travel baseball, and then I took a bunch of people to Taylor Swift
34:03 the night before for my daughter's birthday. But yeah, he said it was awesome. So This
34:07 Is Not Financial Advice. You guys should check it out.
34:09 Yeah, they still have a couple of showings this week at Tribeca. I don't know if they're
34:12 sold out or not, but man, it's awesome. I'm in it for like 15 seconds, but it is a really
34:19 good film about our relationship with money. It's a narrative film, man. It follows characters.
34:27 It's not one of these boring finance films. It's awesome.
34:29 I can't wait to see it. I haven't seen it. I can't wait to see it. All right. Thank you
34:34 for joining me. Go enjoy the beach with your family. You deserve it. Enjoy. Get outside.
34:38 Get some color on that face, you know?
34:40 I'm trying to.
34:42 Yeah. Are you intermittent fasting on the trip?
34:45 Yes. Yeah. So I'm intermittent fasting on the trip with the ability to take if my family
34:51 wants to do a brunch, I'll do it. I'm not going to be that strict on vacation. So I will eat.
34:57 That's just me being curious. But all right. Thank you, Chris Camillo, Dumb Money. Check it
35:04 out. Check out the movie. Check it all out. And we'll update in about a month. We'll have Chris
35:10 on again and get like another 15 minute update. He is smart as can be and just sees trends before
35:16 the person does. So thank you again. Appreciate it.
35:18 Thanks, Jason.