SPACs have been in the news recently, but do you know what they are? Josh and Austin dive into the world of SPACs, including how long they’ve been around, the benefits and the stats. They end the podcast with a discussion on whether or not you should you invest in them. Listen in now to learn more!
Main Talking Points
[1:27] – What are SPACs?
[6:59] – How Long Have SPACs Been Around?
[7:44] – SPAC Benefits
[11:13] – Why are SPACs in the News?
[13:00] – Dad Joke of the Week
[13:22] – Statistics on SPACs
[16:40] – Are SPACs Good or Bad?
[19:10] – Should You Invest in SPACs?
Links & Resources
Invest With Us – The Invested Dads
Free Guide: 8 Timeless Principles of Investing
Social Media
Full Transcript
Intro:
Welcome to The Invested Dads Podcast. Simplifying financial topics so that you can take action and make your financial situation better. Helping you to understand the current world of financial planning and investments. Here are your hosts, Josh Robb and Austin Wilson.
Austin Wilson:
All right. Hey, hey, hey welcome back to The Invested Dads Podcast. The podcast where we take you on a journey to better your financial future today. What the SPAC? Why are we talking about SPACs?
Josh Robb:
Oh yeah. That’s the stuff you use to fill holes in the wall when your kids throw things at it.
Austin Wilson:
Oh. Well, that actually does happen. I remember at my parent’s house my brother tried to do a flip over the couch and then kicked a hole in the wall.
Josh Robb:
I mean-
Austin Wilson:
Mom wasn’t even that mad about it. She’s like, “Oh yeah.”
Josh Robb:
It happens.
Austin Wilson:
But still it happens. Drywall walls have holes.
Josh Robb:
We painted my boy’s room, they share a room, and when we painted I filled all the holes that had happened and one was behind their door. They have one of those basketball hoops that hang on the door right, and when they’d open the door its rim would hit the wall. Put a dent in it. So I filled it then we painted.
Austin Wilson:
It’s back.
Josh Robb:
And not more than a day or two later not only is it back but it’s all the way through the drywall now. They’ve actually punched all the way through. And so yeah.
Austin Wilson:
See, our house has plaster walls everywhere because it’s really old and it does a better job at deflecting things, but when they are there they are evident. And they are a pain to fix. Anyway SPACs. So we’re not exactly talking about spackle, I think is the term you’re thinking.
Josh Robb:
Oh, that’s probably it.
[1:27] – What are SPACS?
Austin Wilson:
We’re talking about special purpose acquisition companies, SPACs. They’re all over the news. If you’re watching any financial news, reading any financial news you’re probably hearing about the word SPAC. So that’s what we’re talking about today.
Josh Robb:
So without the E for equity, there’s no space for them in investing.
Austin Wilson:
Oh man. You could market that. So let’s start like we usually do. 50,000 feet. We’re up in the airplane looking down.
Josh Robb:
All right.
Austin Wilson:
What is a SPAC? A SPAC is a shell company essentially that is formed only to raise capital through an IPO and then go out and acquire another company. So this company is essentially a blank check company. They say, “Okay, I’m going to form this company and its only purpose is to go buy a company.”
Josh Robb:
Okay. Now, when you say shell company my brain goes to bad, illegal things going on right because that’s what you’re thinking about.
Austin Wilson:
Right.
Josh Robb:
You’re using a shell company.
Austin Wilson:
Right.
Josh Robb:
You know what I’m saying. But in this case, it’s just because it’s a-
Austin Wilson:
It’s a vehicle.
Josh Robb:
The company name exists only for the purpose of … And when you say acquired they’re buying private usually.
Austin Wilson:
Usually private.
Josh Robb:
A private company that’s not publicly traded. And so they’re making it a publicly-traded company-
Austin Wilson:
That’s correct.
Josh Robb:
Through this process.
Austin Wilson:
Yes.
Josh Robb:
It’s a way for investors to, in a sense, be on the ground floor of making this a publicly-traded company.
Austin Wilson:
Exactly. Yes. So yes. So a company they have no operations. It’s a publicly-traded company that’s formed legally. It’s all incorporated and everything. There is no operations, there are no employees. There’s really nothing other than the people who are managing the SPAC.
Josh Robb:
Yeah. And they’re just really just probably have an idea like I need to get some money. If I get enough money I’m buying this company-
Austin Wilson:
Yes.
Josh Robb:
And I’m going to make it public because I think it’s going to do well.
Austin Wilson:
And they can buy more than one as well.
Josh Robb:
They can buy more than one.
Austin Wilson:
So these are known also as blank check companies because whatever money the IPO for the SPAC raises … So the SPAC is the company that goes public. Whatever money it raises in capital, people buying into the company when it goes public, they then use for … Or to go buy a company. That’s what they do. So that is exactly how that happens. When they get the money from the IPO … So IPO happens. This SPAC IPO-
Josh Robb:
IPO is?
Austin Wilson:
Initial public offering.
Josh Robb:
Okay.
Austin Wilson:
We’re going to talk about some differences between that but that’s a good segue there. So this company goes public so they get a bunch of capital. Their stock’s out there now. And so all of the capital that they got from this initial public offering goes into an interest-bearing savings account and then-
Josh Robb:
Probably a high interest-bearing savings account.
Austin Wilson:
Half a percent or something right now.
Josh Robb:
Yeah. It’s probably a good return.
Austin Wilson:
It’s going to be great. So it goes in the savings account and then it just pretty much sits there and waits until they find a target to acquire. So usually these companies actually go public without identifying publicly their targets because that takes away their competitive advantage or whatever. Although the founders typically have some sort of idea on what they’re going to be acquiring in the general vicinity. Maybe not the specific company, but what kind of company they’re going to be acquiring before filing. So once the company goes public they have two years from that date to acquire a company or it legally has to return all of its capital back to the shareholders because the shareholders were then investing in nothing. And that’s just not cool.
Prior to an acquisition, most SPACs are actually not traded where you can just easily go buy them right? So the major stock exchanges are not what you can go buy a pre having already an acquisition SPAC. Those are what’s traded over the counter. And this is for much smaller companies, the regulations are a lot less. So this is how back in the early 2000s and late ’90s and stuff. Some of this stuff got some bad names because some of these really small companies they could make people millionaires, they could also go bust because you didn’t really know a lot about it. The regulations are a lot different than your larger peers that you can buy on say the New York Stock Exchange or whatever. But these are traded on what’s called over the counter. But usually once that acquisitions made they do start then trading on a more normal major exchange and then they’re easy to find and easy to research, and all of their documentation has to be a lot more strict at that point.
Josh Robb:
So early on investors that hear about this or find out they’re trading on a over the counter, which means just a less known trading. You’re not on New York Stock Exchange-
Austin Wilson:
Right.
Josh Robb:
And that type of thing. Anybody can still invest in them.
Austin Wilson:
Yes.
Josh Robb:
And they’re betting on the owners of this SPAC, whoever started this SPAC, to have an idea or maybe have a company in mind that they think they can acquire and bring publicly.
Austin Wilson:
True.
Josh Robb:
Okay.
Austin Wilson:
So if you-
Josh Robb:
The hope would be then, I buy this back because then once this company is bought it’s going to be great.
Austin Wilson:
Yes.
Josh Robb:
Now as a publicly-traded company and that’s where my money will be.
Austin Wilson:
It is possible most … I guess I’ll use the term retail investors don’t go by SPACs before their public because they would really have no reason to do that even though they could.
Josh Robb:
Okay.
[6:59] – How Long Have SPACS Been Around?
Austin Wilson:
It doesn’t do much for you at that point. A lot of bigger institutions will however do that in really a bet that the manager is going to have their act together and do what they’re supposed to be doing. So I guess the next question is how long have they been around because we’ve only really been hearing about this in a big way last year and this year? So 2020, 2021. But actually, they’ve been around for decades.
Josh Robb:
Okay.
Austin Wilson:
But they’ve been much more in the news the last year or so as a lot of companies have sought to go public. And most of these newly traded company stocks have performed exceptionally well. There’s just a real investor appetite for IPOs and for SPACs and stuff like that, the new and exciting things. And that’s really been hot in 2020 and 2021, which is really funny because you wouldn’t have anticipated the risk appetite would’ve been there having experienced the bear market.
Josh Robb:
With most of our money being thrown around.
Austin Wilson:
Exactly.
Josh Robb:
And extra money through stimulus and stuff that caused some issues.
[7:44] – SPAC Benefits
Austin Wilson:
And that’s likely to continue into 2021. So what can these SPACs be used for? Literally buying any company. And like you said, well, usually private companies at that point are what is going to be acquired as part of the SPAC. So a couple of the benefits of SPACs are essentially it’s a much faster IPO process than a traditional IPO for a private company. So if a private company can market itself to one of these companies that has a SPAC, then they can be taken public through the SPAC with a lot less hoops to jump through, a lot less time, and a lot less money because it costs money to go public, then if they were to file traditional IPO paperwork and documentation and go public in that way. So it is quicker. So when you think about pricing … So, obviously, when a private company goes public, typically the founders of the companies make lots of money, and-
Josh Robb:
They own a lot of the shares.
Austin Wilson:
They own the most-
Josh Robb:
Private company that-
Austin Wilson:
So therefore, what happens when a SPAC takes your company public? Well, usually it is a premium still. There’s really three levels of premium associated with taking a private company public. So just if a general private equity firm goes and buys your company just normal, negotiates with the owners, and buys the company by itself to run it as their own or whatever, that’s level one, that’s the bottom. And typically there’s not … I bet the owners make good money, but it’s not the 50% premium or whatever that you think about when people go public on the stock exchange. So that’s level one.
Level two is a SPAC because of that easier process, and then easier time, less overhead, all of those things, the owners typically don’t make as much money, the founders or whatever, as if they would have a traditional IPO. So they might make 20% is the average that you make when you go public through a SPAC. Now, if you take a company public through an initial public offering on the stock exchange then typically, recently … So this is not always the case, but recently those owners and founders have been rewarded very generously. I’m talking 50, 60, 70, 80, 90, 100% returns within days of the company going public. But there’s also a flip side of that coin because if you’re going public on a stock exchange it can go the other way too.
Josh Robb:
Yes. WeWork, I remember last year there was some issues there and it was highly valued, and then over time that valuation dropped to the point where I think they removed it and they didn’t go public because there was just this downturn on sentiment for that company.
Austin Wilson:
And investor sentiment, in general, as it pertains to initial public offerings or SPACs can determine a lot of the route that these companies choose. So if people are really risk on, if they’re willing to take on the risk that these smaller companies bring, and that’s just the appetite the investors have, as they really have been for the last couple years, then you’ll see a lot of companies starting to either go public traditionally or through SPACs because they can do better on a stock price which means money in their pockets essentially. But if it’s a tougher time, investor sentiment is down, this isn’t really what they’re feeling, then they might elect to either wait and become a giant private company that takes even more work to go public or just stay private.
Josh Robb:
Or a private equity where they’re being traded or bought but not traded publically.
Austin Wilson:
Exactly.
[11:13] – Why are SPACs in the News?
Josh Robb:
Interesting. Okay. So SPACs seem to have a purpose. Like you said, they’ve been around for decades so it’s not some new fad that’s happened. Why are they in the news if it’s really just more institutional people investing in them?
Austin Wilson:
I think a lot of the news really wants to make comparisons because like I said SPACs are not new. IPOs are not new. These are things that have really been around for decades but a lot of the excitement and the investor sentiment around this area of the market is starting to trigger some old thinking and old feelings from 99 and 2000. And in 99 and 2000, there was, obviously, tech bubble happened. So anything with a dot com attached to the name was up three figures in stock price and it just didn’t matter. And the bubble burst, obviously, and a lot of people lost a lot of money. So I think a lot of the news wants to point to oh no this is a bad thing that’s reminding us of what we saw 20 years ago. So I think that’s why we’re hearing about it now. As well as, like I said, that sentiment is strong. People want this kind of investment. And when that sentiment is strong you’re going to see a flood of IPO’s and SPACs.
Josh Robb:
Okay. So it’s more just a oh we’ve seen a excitement on new initial publicly traded companies before and it didn’t end well. It’s starting to pick up again let’s watch out.
Austin Wilson:
Right.
Josh Robb:
So it’s more that’s coming through. It’s not that there’s been a bunch of retail investors all of a sudden jumping in and causing this new crazy.
Austin Wilson:
Right.
Josh Robb:
Okay.
Austin Wilson:
It’s not GameStop. The Reddit Army isn’t fueling SPACs.
Josh Robb:
SPACs. Shh, don’t tell them they might start.
Austin Wilson:
I know they might.
[13:00] – Dad Joke of the Week
Josh Robb:
All right. Let’s take a break real quick. And so we got SPACs.
Austin Wilson:
I got your SPAC.
Josh Robb:
I don’t have a joke about SPACs. Apparently, they’re not that funny. But I do have a joke. What do you call a belt that’s made out of watches?
Austin Wilson:
Weight Watchers.
Josh Robb:
A waste of time.
Austin Wilson:
Oh. Mine was good but yours is better.
Josh Robb:
A waste of time.
Austin Wilson:
Okay. That’s good.
Josh Robb:
Weight Watchers is good.
[13:22] – Statistics on SPACs
Austin Wilson:
Okay. We hit it on a little bit but let’s dig a little bit more into the statistics of how last year and this year 2020 and 2021 have been different. A difference that this generation, I guess we can call it, of SPACs, is that they’ve started attracting big-name underwriters like Goldman Sachs, Credit Suisse, Deutsche Bank. These are companies that are taking some of these … They’re doing all the legwork behind the scenes to take the SPAC public. And then that can attract better private companies and therefore more retail money or more institutional money or whatever money it is. It’s all about money. But when you’ve got these big banks doing a lot of the legwork for you it’s easy to market and it’s driving demand. So that is one reason that this last couple of years has been different. Like I said, also, it’s just incredibly exciting. There’s a lot of incredible companies going public and people are digging it right now. Statistically speaking, the market for nearly all public going companies right now either in traditional IPOs or SPACs just very, very hot. So that’s going to drive a lot of that demand.
Josh Robb:
So a lot of companies are seeing value in relinquishing some control in going public to in a sense get cash.
Austin Wilson:
Right.
Josh Robb:
Because when you go public you’re giving up shares but receiving an influx of cash.
Austin Wilson:
Oh yeah.
Josh Robb:
People buy into that because the initial offering is when the company itself gets that exact purchase.
Austin Wilson:
Exactly. Yes.
Josh Robb:
Once they’re traded on them … When I buy or sell a stock for a client at my work, I’m not giving it to the company it’s traded between investors. And so this initial offering is a cash influx for these companies. So probably the other side of it is, they’re seeing opportunities to utilize this cash as well.
Austin Wilson:
True.
Josh Robb:
Because why would you go public if you don’t see some value in holding that cash or using that cash?
Austin Wilson:
Well, they need the cash. They’ve got plans. They’re ready to pull a trigger on the new project, a new software, a new product, or whatever, and they need the cash. And these companies can raise a bunch of cash really quickly if they go public whether through an IPO or through a SPAC.
Josh Robb:
Exactly.
Austin Wilson:
So here’s some numbers that blew my mind when I was looking at them. And these numbers are from Statista, which you have to have a premium subscription for to find but you can often see some of the high-level stuff for free. This was free stuff.
Josh Robb:
Nice.
Austin Wilson:
So in 2009, there was one SPAC.
Josh Robb:
That’s it? One.
Austin Wilson:
In 2010, there was seven. 11 there was 15. 12 there was nine. 13 there was 10. 14 there was 12. Okay. These are all the same number.
Josh Robb:
Yeah. Right around that. Right around that.
Austin Wilson:
15 there was 20. 16 there was 13. 17 there was 34.
Josh Robb:
That’s a big jump.
Austin Wilson:
18 there was 46. 19 there was 59.
Josh Robb:
Man. I mean-
Austin Wilson:
We’re getting up there.
Josh Robb:
Getting up there.
Austin Wilson:
In 2020 alone there was 248.
Josh Robb:
That’s a big jump.
Austin Wilson:
It’s more than four X.
Josh Robb:
Yes.
Austin Wilson:
We’re sitting here recording this on the 1st of March.
Josh Robb:
All right.
Austin Wilson:
Okay. So year to date through February there’ve been 186 in 2021.
Josh Robb:
Just the first two months.
Austin Wilson:
Yeah.
Josh Robb:
That’s crazy.
Austin Wilson:
So that is why SPACs are in the news.
Josh Robb:
Okay.
[16:40] – Are SPACs Good or Bad?
Austin Wilson:
Because there are so many of them occurring right now. So that might lead you to ask the question, is it good or bad? The real answer is we don’t know. It’s impossible to know at this point.
Josh Robb:
The answer’s yes.
Austin Wilson:
Exactly. There are people who compare this to the bubble leading up to 2000, which was a buy anything mentality. And some of that’s true right. There are people that are going to feel that way now. But there are some truly innovative companies that are going public through SPACs in areas like space exploration and alternative energy that are literally going to change the future. And I’m sure that’s what they said about internet companies in 1999, but that didn’t work out for everyone. The reality is that some people are going to make a killing and some people are probably going to get burnt and that’s just the nature with these high-risk, high reward areas of the market.
Josh Robb:
You mentioned space exploration, alternative energy. So when you’re talking about these privately companies … Most of the time private companies, are they a niche piece that just no one else is doing? Or, are they like here’s a person that makes a component to a larger publicly traded company but they’re private, but if we take them public too they’re going to do well because they’re tied to this bigger Apple or something where they make one of their pieces. Have you seen a trend that way where it’s like they’re targeting certain areas?
Austin Wilson:
I would say probably both. You hear more of the part A of your question where it’s just like this is a brand new, cool innovation doing something new, doing something solo. I think that the second part, the component supplier or whatever could be very … Specifically in chips that could be … This is a very great time to launch a chips back or whatever but the innovators, the new ideas and new things is what’s happening right now. I think last year Virgin Galactic went public with Richard Branson’s company Space Exploration.
Josh Robb:
Okay.
Austin Wilson:
So a big deal. We don’t have space companies right now.
Josh Robb:
Right.
Austin Wilson:
It’s a whole brand new idea, a brand new environment. And that’s the innovation that’s driving a lot of the excitement right now. I mean, there are some companies that are going public for … They were publicly traded, and then they went and got bought. Took private. And then they were in public again through a SPAC. I think Petco or something did that recently. It’s just so interesting how … It’s just the place to be right now.
Josh Robb:
Okay.
[19:10] – Should You Invest in SPACs?
Austin Wilson:
So let’s just have a discussion, Josh. Should you invest in SPACs?
Josh Robb:
That’s a good question. And that’s hard to answer when you’re talking to a wide audience of people because everybody’s different. But the things you should consider are your risk tolerance because you’re betting on a person or two, a couple people, and their ability to go find a company that’s worth owning.
Austin Wilson:
Right. Especially at a discount.
Josh Robb:
Yeah. Right. Is what I’m paying them, am I going to get value at that when they’re finally done with their acquisition?
Austin Wilson:
Exactly.
Josh Robb:
And so that’s one piece. And then the other side of it too is you still got two years to do this. Am I comfortable sitting, waiting around with the money I give them seeing really no return on it.
Austin Wilson:
Right.
Josh Robb:
I mean, maybe I will get 0.05%, but I’m not getting anything out of my investment until they decide on what they’re bringing public.
Austin Wilson:
Right.
Josh Robb:
Or, if they go two years without doing anything-
Austin Wilson:
Then you just lost out.
Josh Robb:
I get my money but I just lost two years of investing opportunity.
Austin Wilson:
I see this similar to cryptocurrency, which that we’ve talked episodes on this. We don’t really view it as an investment, we view it more as a SPACulation.
Josh Robb:
SPACulation. Nice.
Austin Wilson:
So it’s highly speculative. You’re really betting on something that’s completely unknown at this point. And I think that that’s something you’ve got to be willing to stomach for one. But number two is we preach and really believe that you should invest in companies that you understand and companies that you know the business and what’s going on. Before a company has bought anything, it’s just buy a blank checks back company. Just because it’s publicly traded you have no idea the company.
Josh Robb:
Just hoping.
Austin Wilson:
Exactly. So it’s not really investing by the definition. It’s hoping. You’re just hoping and praying that something happens. Great. And you don’t really know that. So that’s the way that we would view that. So I guess it begs the question how. If you wanted to invest in SPACs would you invest in SPACs? So first of all, like Josh said, always talk to your financial advisor if this fits your plan because like we said, it’s highly speculative, it’s highly volatile, and it can be a way to not make great money or do wise things with your money potentially. So talk to your advisor. If you don’t have an advisor we’re here to help. Check out our website. There’s an invest with us tab. We would love to talk to you about that. And no, we don’t typically buy SPACs for our clients. But should you just really have that tug to say, “Okay, I’m doing it. I got some leftover stimulus money or whatever that I don’t care if I lose. I’m going to go buy half of it with Bitcoin.”
Josh Robb:
You go crazy.
Austin Wilson:
“And then half of it I’m going to go buy some SPACs.” So maybe you’re feeling adventurous. You got no other use for your money.
Josh Robb:
All speculation.
Austin Wilson:
It’s all speculation. So yeah you could go buy some individual SPACs on-
Josh Robb:
They’re traded.
Austin Wilson:
They are traded.
Josh Robb:
But you won’t find them on a normal stock exchange.
Austin Wilson:
Right. You’re going to have to go into the backwoods. You’re going to go up to someone’s window and knock on the door three times.
Josh Robb:
Look out I’ve got to find a counter.
Austin Wilson:
Exactly.
Josh Robb:
Then go over top of it.
Austin Wilson:
There’s a code word.
Josh Robb:
Yeah.
Austin Wilson:
No. I mean, you can find places.
Josh Robb:
Trade. There are trade desks.
Austin Wilson:
Exactly. But it’s harder to find, there’s not as much security and stuff like that so be careful. That’s not something we would recommend. It’s highly SPACulative. I’m going to say it again. Dang, that’s good. Okay. The next option which would probably be a bit more responsible because these are traded on public exchanges here. There are some ETFs that now represent SPACs. And typically they represent multiple SPACs. So there’s blank check unused SPACs in there, but there’s also I think ones that you can ride the SPAC as it goes public too and get some of that bump and stuff like that. So those ETFs. A couple that I found just in quick looking, we’re not affiliated with any of these, but one is the Defiance NextGen’s Back IPO ETF ticker SPAK.
Josh Robb:
See again-
Austin Wilson:
It’s a good ticker.
Josh Robb:
ETFs-
Austin Wilson:
They got some great tickers.
Josh Robb:
Those are not so diluted. You have the ability to get some good tickers. And if you’re making a SPAC, which is S-P-A-C-
Austin Wilson:
That one’s probably already taken.
Josh Robb:
I don’t know. But you probably just for club compliance reasons you can’t do that. But they have S-P-A-K.
Austin Wilson:
Yeah.
Josh Robb:
I mean, you’re pretty much right there. That’s a good one.
Austin Wilson:
Another one is the collaborative investment series, Trust The SPAC and New Issue ETF. Ticker S-P-C-X.
Josh Robb:
Close. Good.
Austin Wilson:
So similar there.
Josh Robb:
Yeah.
Austin Wilson:
Those are a way to maybe spread your risk out a little bit. You’re getting something that’s a little bit more on top of the table. A little bit more liquid. Liquidity’s an issue when you’re buying securities over the counter. There’s not always another buyer on the other end easily. In fact, you could lose money trying to find a buyer because these things are not traded as easily or as frequently. So these are ways that you could go onto your brokerage website and buy these. So it’s fine. But either way, it’s highly SPACulative. Three times, three times.
Josh Robb:
It’s a SPACtacular joke he keeps repeating.
Austin Wilson:
See exactly. So just like investing … I’m using air quotes on the podcast. In crypto only do it with money you can stand to lose.
Josh Robb:
Exactly. So I’m glad I have a better understanding because you see it in the news, you see the abbreviation, you’re like what are they talking about? So it really is a open-ended company that you’re going to say, “I think these guys, girls, whoever these people are, are super smart, and have some company that they’re going to just knock it out of the park with and I want to give them some money and see what happens.” So that’s what they’re trying to do.
Austin Wilson:
Exactly.
Josh Robb:
So good to know. It’s crazy how that jump went from 59 to 248 last year. That’s crazy. So appreciate it. Good updates.
Austin Wilson:
Just as a reminder, it’s just good to use caution especially in these … I’m not even going to say SPACulative.
Josh Robb:
Don’t do it. Don’t do it.
Austin Wilson:
In these more speculative areas of the market. So as always check out our free gift to you it’s a brief list of eight principles of timeless investing. These are overarching investment themes that are meant to keep you on track to meet your long-term goals. We do not mention SPACs whatsoever because they probably shouldn’t be a big part of your long-term financial planning. So check it out. It’s free on our website. Josh, how can people help us grow this podcast?
Josh Robb:
Make sure you subscribe each week that way we can get you our most recent podcast every Thursday. Leave us a review on Apple Podcast that helps us rank higher so more people can find us. If you have any ideas or have a privately traded company you think would be a great deal for SPAC, well, don’t email us that. But if you have other questions email us at helloattheinvesteddads.com. And also if you know somebody who’s asking about SPACs you can send them this episode and let them know they can be informed and ready to go.
Austin Wilson:
To clarify. You probably only need to subscribe once because if you subscribe every single week you’re going to unsubscribe then you have to resubscribe. So one time’s good on that.
Josh Robb:
Okay.
Austin Wilson:
But it’s all-
Josh Robb:
Make sure you are subscribing.
Austin Wilson:
That’s right. So until next Thursday have a good week.
Josh Robb:
Talk to you later. Bye.
Outro:
Thank you for listening to The Invested Dads Podcast. This episode has ended but your journey towards a better financial future doesn’t have to. Head over to theinvesteddads.com to access all the links and resources mentioned in today’s show. If you enjoyed this episode and we had a positive impact on your life, leave us a review. Click subscribe, and don’t miss the next episode.
Josh Robb and Austin Wilson work for Hixon Zuercher Capital Management. All opinions expressed by Josh, Austin, or any podcast guest are solely their own opinions and do not reflect the opinions of Hixon Zuercher Capital Management. This podcast is for informational purposes only and should not be relied upon for investment decisions. Clients of Hixon Zuercher Capital Management may maintain positions in the securities discussed in this podcast. There is no guarantee that the statements, opinions, or forecasts provided herein will prove to be correct. Past performance may not be indicative of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. Securities investing involves risk, including the potential for loss of principle. There is no assurance that any investment plan or strategy will be successful.
