A foolish consistency is the hub goblin of a little mind.

A dog by little statesman and philosopher of the mind.

If a man does not keep pace with his companions, perhaps it is because he hears a different drummer.

A different drummer.

And now, coming to you from Dead Center on your dial, welcome to Risk Parity Radio, where we explore alternatives and asset allocations for the do-it-yourself investor.

Broadcasting to you now from the comfort of his easy chair, here is your host, Frank Vasquez.

Thank you, Mary, and welcome to Risk Parity Radio.

If you are new here and wonder what we are talking about, you may wish to go back and listen to some of the foundational episodes for this program.

And the basic foundational episodes are episodes 1, 3, 5, 7, and 9.

Yes, it is still in my memory banks.

We have also created an additional resource, a collection of additional foundational episodes and other popular episodes.

We have top men working on it right now.

Who?

Top men.

And you can find those on the episode guide page at www.riskparty radio.com.

Inconceivable!

All thanks to our friend Luke, our volunteer in Quebec.

Sacosh.

We'd be helpless without him.

I have always depended on the kindness of strangers.

Because other than him, it's just me and Marion here.

I'll give you the moon, right?

I'll take it.

We have no sponsors, we have no guests, and we have no expansion plans.

I don't think I'd like another job.

Over the years, our podcast has become very audienced focused.

And I must say we do have the finest podcast audience available.

Along with a host named after a hot dog.

Light in the Francis.

But now onward, episode 474.

Today on Risk Party Radio, it's time for our weekly portfolio reviews of the eight sample portfolios you can find at www.riskparty radio.com on the portfolios page.

I'm putting you to sleep!

Yeah, nothing happened last week.

Stuff went down, stuff went up.

It's a little higher than it was before, which is good.

But before I put you to sleep with that.

I'm intrigued by this.

How you say email.

And first off.

First off, we have an email from Jenna.

Do you know what this is about?

My uh flair.

And Jenna Wrights?

Hi, Frank.

Thanks for all your teaching.

I have learned so much.

My husband and I are around 80% to our financial independence goal and have assets across multiple types of accounts, IRA, 401k, and brokerage, and a lot of various holdings.

I'm trying to clean the closet through consolidating accounts, and then I'd like to copy the golden butterfly.

I have bought half of my money in retirement accounts and half in brokerage accounts held in various stocks, total market index funds, and various individual companies.

Any tips to make this easier?

I'm afraid to sell stocks because of triggering taxable events.

I've also read retirement accounts are best for bonds and gold holdings.

Any tips are appreciated?

Thanks so much.

Um, you know what, Stan?

If you want me to wear 37 pieces of flair like your uh pretty boy over there, Brian, why don't you just make the minimum 37 pieces of flair?

Alright, Jenna.

Interesting email.

Probably more interesting than you think.

Because we need to deal with the big elephant in the room first here, which is your statement.

I am afraid to sell stocks because of triggering taxable events.

Inconceivable.

Sounds like an innocuous statement, doesn't it?

I don't think it means what you think it means.

But this one statement from retirees accounts for many damaged relationships, all kinds of irrational behaviors, all kinds of misguided priorities.

This fixation on not paying taxes ever is really stupid.

Honestly, it is really stupid when you think about life's priorities.

And I'm not pecking on you personally, because I see this all the time, and I see lots of wealthy people who live miserable lives and have miserable relationships because of this one fixation.

Not paying taxes, not ever paying taxes.

What guy in a suit?

No!

It's a tax collector!

They're letting the tax tail wag not only the investment dog, but also the better life dog.

Release the hounds.

So, in order to illustrate this, we'll reverse the question.

Suppose your goal is to never pay taxes on your taxable account.

Well, you basically have two choices.

The first one is just don't ever sell anything in the taxable account.

You just let it keep growing there.

You never sell anything, you only buy, and then you die.

Dead is dead.

And you win.

You didn't pay taxes in your taxable account, and it went to somebody else, and they get a stepped-up basis.

So you won the game.

You won the don't pay taxes game.

You should be proud, you should be celebrating.

Dead is dead.

It's the best strategy ever, isn't it?

Dead is dead.

But you do have to do some other things because you're not going to be able to use that money ever, ever, in your taxable account for any reason whatsoever, because you don't want to pay taxes, that's the most important thing here.

Don't ever pay taxes on that.

That means you need to save other money somewhere else.

And you cannot put it in a taxable account because then you'd end up paying taxes on something in a taxable account.

You can't use the money in the taxable accounts, okay?

Forget about it.

So you gotta keep working as long as possible.

I mean, you need to save at least double what you got in your retirement accounts and keep putting more money in those kind of accounts, and then you only use those.

Now you have to work a whole lot longer, but but hey, I mean, you're gonna win the game by not paying taxes.

Isn't that what you wanted?

Are you crazy?

Or just plain stupid.

Now, the other way is a little bit more clever and actually works for a number of people because all it involves is not having income.

If you make your income low enough that you're going to be in the 0% capital gains tax bracket, and you actually can tax gain harvest and you won't pay taxes in that taxable account.

But you have to keep your income, your adjusted gross income, under about $50,000 for a single person or $100,000 for a married couple.

Now, many people can actually do that, or at least do that some of the time.

But if you are planning on spending more money than that, you end up sacrificing your life because you're not going on vacation, you're not doing things with your friends, you're not doing anything, and then you can do this tax gain harvesting.

And that can actually be a reasonable strategy for a lot of people.

Probably not a lot of people who are listening to this podcast, because chances are you have incomes that are higher than that and you do want to spend more money than that in your retirement.

I'm just guessing.

But that's the other way you can never pay taxes on your investments in your taxable account.

Or you can give it away.

That's the other option.

You just give it away now and then somebody else pays taxes on it.

Just transfer the shares in kind.

All this is to say is that I don't want to pay taxes in my taxable account is never really a legitimate reason for most people to not do the other things they need to do to organize their accounts and organize their life in a way that makes sense.

That cannot be the priority for most people.

And if it is your priority, you're kind of messed up.

So that means that every single day that you see me, that's on the worst day of my life.

What about today?

Is today the worst day of your life?

Yeah.

Wow, that's messed up.

None of the five regrets are of the dying are I never pay taxes on things in my taxable account.

They're just not.

Forget about it.

A better goal is to minimize the tax burden, to set up your strategy that you really want to follow that works for your life, and then you look at the tax tail after that to make adjustments or take actions that will minimize the tax burden.

The biggest rule on that is to spread it out over years, is the general rule.

If you want to minimize taxes, you try to spread it out over as many years as possible because then you're staying out of the highest tax brackets.

But we'll talk about a couple other ideas here as well for that.

So you want to go to a golden butterfly kind of portfolio.

You say you have money in IRAs, 401ks, and a brokerage account in a lot of various holdings, and I think that's an important thing.

So this kind of portfolio is essentially 40% in stocks divided into growth and value, usually a total market fund or something like that on the growth side and small cap value on the value side, although you could construct it with different kinds of value stocks, really.

Remember, we're applying principles here.

So the fact that you're not exactly doing the sample golden butterfly is not the point.

If you think that's the point, you're missing the point.

Hello, hello, anybody home?

Huh?

Think McFly.

Think.

The point is to get to something like that.

You're also going to have 20% in long-term treasury bonds, 20% in gold, and then 20% in short-term bonds, which are essentially cash-like instruments or pretty close to it.

So, what you want to do is focus on everything except for the cash-like instruments, because that's basically the last money you'll save into this thing.

Focus on getting one quarter each into the long-term treasury bonds, the gold, and the two kinds of stocks that you're dealing with: the growth and the value.

The long-term treasury bonds belong in your retirement accounts, and so you should just sell something in your retirement accounts and buy that.

That's the easy way to do that.

Now, if you don't have that option in your 401k, use the closest option you have now.

Then when you stop working there, move that 401k to an IRA and buy exactly what you want.

But there should be at least some kind of total bond fund or treasury bond fund in there if you can't find exactly something like VGLT.

You can also change the allocation of anything else in your retirement accounts without any tax consequences.

So you can go and buy some gold in there if you want to, if there's room for that, that often can make sense.

Or if you have room enough to put more stocks in there, I'm assuming that you are likely to be overweighted on large calf growth y things and total market things and underweighted on value things, because that's usually where people are when they're accumulating.

And so after you deal with satisfying the long-term treasury bond allocation and the gold allocation, which you can probably do all in your retirement accounts, then you're dealing with moving some of your growth y stuff to more value-y stuff.

And so you may be selling some other things in these accounts, the retirement accounts, and buying more value-tilted stocks.

But basically, you do as much as you can in terms of movement of the assets in the retirement accounts where there are no tax consequences to begin with.

And then you start looking at the taxable account and making fewer adjustments in there, because that's how you're going to minimize your tax burden, is by making fewer adjustments in the taxable side than you are in the retirement account side.

All right.

A couple other ways you can minimize taxes in the taxable side is if you are going to have some low income years and you know they're coming up and you will be in that 0% tax bracket, take advantage of that.

Do what's called tax gain harvesting.

If you don't know what that is, look it up.

But basically it's filling up the tax bracket when your income is low because you know you're paying 0% on it.

Most people are going to be in the 15% capital gains tax bracket, at least most people listening to this podcast.

And remember that only applies to your capital gains.

The gains, not the whole amount.

So if you have $10,000 you invested and it goes up 20% to $12,000, and you sell $12,000 of that at a 15% tax bracket on the capital gains, the taxes you are going to pay on that are going to be $300 on the $12,000, not $1,500 or $1,800 or something like that.

So when you're thinking about that, what you want to think about is are there things in the taxable account that I can sell that have lower capital gains on them?

And they may be individual holdings.

You need to look this up with your brokerage statement, or they may be things that you more recently purchased.

And you want to look at things that are at least a year old.

But if you had, say, a big allocation to something like VOO or VTI, a SP 500 or total market fund, you can actually sell the tax lots that are only a year or two old, which will have lower capital gains associated with them, and that will lower your overall tax burden.

But you have to do that specifically by using the specific lots.

Each brokerage has their own rules for it.

You need to just follow those rules.

So instead of just selling something, in which case it will sell the oldest thing in there for that allocation, you want to sell something that is newer, that has a lower capital gain associated with it, and that will also lower your taxes.

See, this isn't so bad.

That's the fact, Jack.

But even prior to that, because you have a whole bunch of various holdings as you describe, I would say the first thing you need to do with your stock holdings in particular is characterize them.

What are these things?

And in particular, are they growth-oriented or are they value-oriented?

Because the stuff that's already value-oriented, maybe that can be part of the 20% that is going to value-tilted things.

So if you have something like SEHD lying in there, that's a value-tilted fund.

If you have individual stocks like Coca-Cola or Procter Gamble or McDonald's or Exxon or something like that, those are all value-tilted stocks.

You may not need to sell those.

You could just use those as part of your value allocation.

Now, this won't be as clean as just selling all these things and then buying exactly a small cap value fund.

But if you want to minimize your taxes, particularly over time, and you have a large account, there's nothing wrong with maintaining some of those things as the value allocation here.

Because again, the goal is not to get to a specific formula here, it's to apply these principles.

And there are a lot of ways here to get to where you need to be while still minimizing your tax burden.

Now finally, the last thing I would fill up is the short-term bonds allocation, which can also encompass money markets and any kind of short-term cash-like savings like thing.

But that's easier to just create or fill up at the end since you're 80% there.

One thing you'd also need to do is turn off any reinvestment.

And I would just turn it off in all the places it exists right now.

Because you do not want to be buying more of these things while you're trying to change what you're holding.

And that will also allow you to just accumulate some cash, which can then be reinvested into a different allocation or this cash allocation in the end.

And if you want to write back in and give more details on what you actually have, we have done this from time to time when people write in and say, This is what I have.

If you go to search the podcast at the website, which you can do now pretty easily, put in the word transition, and you will find a lot of podcasts where we've talked about moving from one allocation to a risk parity style allocation on how to do that most efficiently.

But that would give you some more examples to work with.

Because I cannot tell you about your specifics based on your email right now.

Not gonna do it.

Wouldn't be prudent at this juncture.

Anyway, thank you for writing in.

I hope you didn't take that little mini rant too personally.

It willn't directed specifically at you with this nonsense idea of I don't want to pay any capital gains taxes as a basis for overall retirement planning.

So hopefully that helps.

And thank you for your email.

I do.

I do want to express myself.

Okay?

Then I don't need 37 pieces of flair to do it.

All right, there's my flair.

Okay?

And this is me expressing myself.

Okay?

There it is.

Second off, we have an email from Kevin.

Kevin, stop singing, right?

Hi, Frank.

I'm a pretty new listener to your podcast, and I'm starting from the beginning.

I am in the accumulation stage as a late starter, and I'm 56 years old as well as my wife.

We have about $900,000 invested with the vast majority in 401k and a rollover IRA.

We do also have a fully paid for home with a $600,000 value, which I guess I don't really count as my wife does not want to move with grandkids and all the rest.

My question is that I am trying to pick a portfolio as I do have a high risk tolerance.

I have not heard you talk yet about digital assets yet, although I am not that far in your podcasts.

Is it fair to say it is because they are not considered investments, maybe not speculation, but maybe just gambling?

Also, although it's not an investment, is part of the reason that it is just too correlated to stock movements?

As far as applying the David Stein questions, I would fail on that one as well because I really don't understand it.

However, with large institutions offering ETFs, is it wise to plug my nose and expose myself to a small percentage just for FOMO?

Thanks for all of your advice, Kevin.

You can't handle the gambling problem.

Alright, Kevin, and all you new listeners out there, there are a lot of podcasts now.

We're up to episode 474, but there's a very easy way to find what you were looking for in terms of specific assets like this, and that is to go to the podcast page at www.riskpartywriter.com and put in what you're searching for because our crack volunteer, Luke in Quebec, has created a very easy searchability for all of the podcasts.

Saccoche.

What does that mean?

It comes from sur la coche in French, which means on the check mark.

Okay?

In other words, right on the mark.

Bullseye.

Awesome.

And if you put in Bitcoin there, you'll find about 15 episodes where we talked about this.

Including episode 29, where we addressed it specifically and go through the 10 questions from David Stein applied to Bitcoin.

Now that was some time ago, it was about five years ago.

But most of it is still good, except that it's much easier to invest in Bitcoin now that we have ETFs to do it with.

So let me just give you the short answers here, which is yes, this is a speculation because it does not pay an income.

And for the purpose of whether you'd want to put it in your portfolio or not, the biggest question is that application of the holy grail principle.

Is this asset actually uncorrelated with other assets?

And from what we've seen, at least in the past few years, as it's become more popular, it has been become much more correlated with growth stocks, like tech kind of growth stocks.

So it behaves more these days like a triple levered version of the NASDAQ 100, like the fun TQQQ.

Although this year it's done a lot worse than that.

Which means maybe it's decoupled again.

I don't know.

So that's not very helpful or not very useful.

The second thing about it is it just hasn't been around that long.

And so we really can't say what its long-term future is.

And you might get some kind of a binary answer there.

Either it's the best asset or it's the worst asset.

We just don't know.

We don't know!

What do we know?

You don't know, I don't know, nobody knows.

And yes, you can make up all kinds of narrative stories about how good it is or how bad it is, but those are just stories, okay?

A crystal ball can help you, it can guide you.

I don't have a crystal ball, and I don't trust anyone who says that they do with respect to this topic.

Because generally they're very conflicted for one reason or another.

Now you can also use the ball to connect to the spirit world.

And the third thing, or another thing, is that it remains very volatile.

So when I first did episode 29, it had about 10 times the volatility of the stock market, which is why you would only allocate something like one or two percent to it.

Its volatility has gone down, so it's more like three times the stock market right now.

But it's still something you would only use in small amounts because otherwise the returns of it will dominate the returns of the entire portfolio and it won't be balanced.

You always need to account for volatility of the assets in addition to their other performance aspects when you're mixing them with other assets in a portfolio.

So we have included a 2% allocation to this in the Risk Parity Ultimate Sample Portfolio, because that is our kitchen sink portfolio where we put a little bit of everything.

And it did well last year, but not so good since we rebalanced out of it, thankfully, in July, or out of a lot of it.

We sold more than we bought.

As for what we personally do with it, I look at this thing just for entertainment value for the most part.

We've owned some at various times.

We've sold it, so when it was down the last time it crashed during FTX Fiasco land.

I've officially amounted to check you squat.

We bought some then when it was like a 20,000 or something like that, and then we sold it when it got to near 90 or 100,000.

So we don't own that anymore.

If it goes down more than 50% from its high point, I may buy some again.

But it's not going to be anything significant, and again, it is more for entertainment than anything else.

I also have a credit card from Gemini, which pays me back in Bitcoin.

Which is kind of funny because you know I get 3% back eating out and 4% back on gas, and they recently had a 5% promotion around Cyber Monday, so I took advantage of that.

So that's been lucrative.

I think I've over the past few years gotten paid back something like $2,000 in Bitcoin, and now it's worth something like $4,000.

Of course, a month ago it was worth $6,000.

But I view that as another form of entertainment as well.

I think the last thing I would leave you with here, though, is you say you have a high risk tolerance, but a high risk tolerance is not a goal.

And I think you need to get clear on what your actual goals are here because you're 56 years old.

You're not going to work forever.

And just because you may have a high risk tolerance does not necessarily mean that taking a lot of risk is going to max your actual goals in life.

So I would put that aside and start thinking about is your goal to spend a lot of money early in retirement or throughout your retirement?

Or is your goal more to accumulate the most or continue to accumulate as you age?

Because those are kind of two different goals.

Did you see the memo about this?

And once you figure that out, then you can pick a portfolio that matches your goals and is not just designed to match some risk tolerance that may or may not be relevant.

Because I can tell you I have a very high risk tolerance as well.

I enjoy gambling.

I enjoy playing games like craps.

Shake 'em up, shake 'em up, shake 'em up, shake 'em.

But that really doesn't match our retirement goals, which are to spend as much money reasonably possible while we are alive and hopefully earlier rather than later.

People die all the time.

Just like that.

Why you could wake up dead tomorrow.

Because that goal implies holding a portfolio with a lower volatility than something like a Bitcoin-based portfolio or leverage-based portfolio would imply.

But this is why I say that personal finance is finance first.

Personal finance is finance first.

Did you get that memo?

Which means you need to make sure your financial behaviors match your financial goals.

A lot of people say personal finance is personal.

That could be true.

That goes to your high tolerance for risk, but that puts the cart before the horse.

Because regardless of what your personal preferences are, if they cause you to engage in behaviors that don't actually match your financial goals, you won't make them.

Or you won't make them very well.

That's not an improvement.

So be mindful of that.

Ever his mind on where he was.

Hopefully that helps.

Hope you take advantage of what you can find on the website.

It's gold, Jerry, gold.

And thank you for your email.

You know, Kevin.

I had this wild dream the other night.

It was with you and me.

And we were working in this pleasy motel down in Miami, Florida.

And we were bellhopped.

When we were 65 years old.

It was so real, it was still really, it's real, it's realistic.

And then what?

You woke up in a puddle.

Last off.

Last off of an email from Jackrabbit.

I told him about your skills, man.

I said, Jimmy Rabbit's your man.

He said, bring him down and let me see what he can do.

And Jackrabbit writes.

Hi, Frank.

I thought you might enjoy this.

I took the transcript from the Wizard of Oz episode and switched the sound bites for pictures.

Then I sent it off to my late-stage teenagers.

PDF attached, Jackrabbit.

Mama, I'm coming home to you.

So, Jackrabbit, thank you for creating this.

I'm getting Merry Christmas presents here all around.

So, what Jackrabbit created was a PDF that took the text from the transcript and then put images for a lot of the sound bites and other things.

And it reads kind of like this graphic novel.

I think the best illustration was the one for I drink your milkshake.

At least that's the one I found the most entertaining.

I drink your milkshake.

I drink it up.

So I asked our top man working on our website what we could do with it.

We have top men working on it right now.

And we decided to include it as bonus material for episode 208.

So anybody that wants to check it out can also check it out there.

And we are toying with putting some other bonus materials like artificial intelligence generated slideshows or videos for some of the episodes.

Yes!

Because a lot of them are very entertaining or enlightening or both.

So stay tuned on that.

And in the meantime, if you're looking for something to look at over the holidays that may entertain you, I would urge you to go look up episode 208 at the website, and you will find the bonus material that Jackrabbit has provided us.

And you can show that to your teenagers as well.

Pay no attention to that man behind the curtain.

Thank you very much for creating that.

And thank you for your email.

Well, Jimmy moved in with his mother.

Cause he ain't got no place to go.

And now I'm right back in the garden.

Cause I live at home in the trailer.

Now we are going to do something extremely fun.

And the extremely fun thing we get to do now are our weekly portfolio reviews of the eight sample portfolios you can find at www.riskperiare.com on the portfolios page.

Just looking at where the markets are this year so far.

What little we have left.

The SP 500, represented by VOO, is up 17.57% for the year so far.

The NASDAQ 100, represented by QQQ, is up 21.15%.

Small cap value, represented by the fund VIOV, is up 8.13%.

Gold continues to be ridiculous.

I love gold.

Our representative fund GLDM is up 65.22% for the year right now.

You're insane, gold member!

And that's the way uh-huh uh-huh.

I like it, Casey on the Shunshine Band.

Long-term treasuries represented by the fund VGLT are up 5.44%.

REITs represented by the fund REET are up 6.93%.

Commodities represented by the fund PDBC are up 4.85%.

And preferred shares represented by the fund PFFB are up 1.98% for the year so far.

And finally, managed futures are managing to be a very good performer this year, and they weren't earlier in the year, but our sample fund DBMF is now up 14.13% for the year so far.

Moving to these portfolios.

First one is the all seasons.

This is a reference portfolio.

We keep around for reference.

That is the straight stuff, oh funkmaster.

It's only 30% in stocks in a total stock market fund, 55% in intermediate and long-term treasury bonds, and the remaining 15% in gold and commodities.

It is down 0.63% for the month of December.

It's up 13.57% year to date, and up 23.29% since inception in July 2020.

Moving to our bread and butter kind of portfolios, first one's golden butterfly.

This one is 40% in stocks divided into a total market fund and a small cap value fund, 40% in treasury bonds divided into long and short, and the remaining 20% in gold.

It's up 0.78% for the month of December.

It's up 19.64% year to date, and up 60.22% since inception in July 2020.

Next one's the golden ratio.

We find it everywhere, everywhere.

The next one is the Risk Parity Ultimate.

This is our kitchen sink portfolio.

I'm not going through all 12 of these funds, but it does have that 2% allocation to IBIT, which is a Bitcoin ETF.

You have a gambling problem.

It is down 0.06% month to date.16% since inception in July 2020.

Now moving to these experimental portfolios.

With a bunch of scraps.

Yeah, these all involve leveraged funds and are highly volatile, so don't try this at home.

Well, you have a gambling problem.

First one's the accelerated permanent portfolio.

This one is 27.5% in a levered bond fund TMF, 25% in UPRO, a levered SP 500 fund, 25% in preferred shares and PFFV, and 22.5% in gold.

It is down 1.25% for the month of December.

It's up 22.62% year to date, and up 23.89% since inception in July 2020.

Next one is the Aggressive 5050.

This one is the most levered and least diversified of these portfolios and by far the worst performer.

It is one-third in UPRO levered stock fund, one-third in TMF levered bond fund, the remaining third divided into a preferred shares fund and an intermediate treasury bond fund.

It is down 2.69% for the month of December.

It's up 11.95% year to date and down 1.4% since inception in July 2020.

Next one's the levered golden ratio.

This one's a year younger than the first six.

It is 35% in a composite fund called NTSX.

That is a SP 500 and Treasury Bond Fund levered up 1.5 to 1.

It's got 15% in AVDV, which is an international small cap value fund.

That's kind of knocked it out of the park this year.

20% in gold, GLDM, 10% in a managed futures fund KMLM, 10% in a levered bond fund TMF, and the remaining 10% in a levered Dow fund and a levered utilities fund, 5% each in those.

It is down 0.79% month to date.

It's up 25.12% year to date, and up 19.59% since inception in July 2021.

Now moving to our last one and newest one, the one that's knocking it out of the park.

This is the Optra Portfolio, one portfolio to rule them all.

It is 16% in UPRO, that's a levered SP 500 fund.

24% in AVGV, which is a worldwide value tilted fund, 24% in GUVZ, which is a Treasury Strips fund.

And the remaining 36% divided into Gold and Managed Futures.

It's up 0.55% for the month of December.

It's up 25.75% year to date, and up 29.41% since inception in July 2024.

And so if you were looking for a levered risk parity style portfolio to accumulate in, it would probably look something like that.

Or another one of the so-called return-stacked portfolios that is a popular thing right now.

Tell me where is Gando, but I much desire to speak quick.

Tell me where is Gando, but I much desire to speak quick.

But that does conclude our weekly portfolio reviews.

Just a little programming note.

I expect to be taking off for Christmas and New Year's.

Take off.

So you'll just have to go back and search the site for various topics if you're really missing me that much.

Looks like you've been missing a lot of work lately.

I wouldn't say I've been missing it, Bob.

Good one.

Oh, that's terrifying Pierre.

I suggest the rant episode about free steak dinners.

It's a classic.

Always be closing.

Always be closing.

But we'll also be doing our annual review episode in two weeks' time, I think.

Well, let's start the insanity.

Giddy up.

In the meantime, if you have comments or questions for me, please send them to Frank at RiskPartyRave.com.

That email is Frank at RiskPartyRave.com.

Or you can go to the website www.riskpartywave.com.

Put your message into the contact form, and I'll get it that way.

If you haven't had a chance to do it, please go to your favorite podcast provider and like, subscribe, give me some stars, a follow, a review.

That would be great.

Okay.

Thank you once again for tuning in.

Merry Christmas to all, and to all a good night.

The Risk Parody Radio Show is hosted by Frank Vasquez.

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