Great advice. Let's switch gears a little bit and talk about your own investing journey. First off, how'd you get started working within agricultural commodities and ETFs?
So I'm a history guy. I literally went to college to become a history teacher. And when I was in school, a close friend of mine whose dad was a big wig at Citibank, we would do what college kids do, right? We stayed up late drinking and trying to solve the world's problems. And he was such an idiot because, I would say, 'dude, there are three branches of government.' He goes, 'no, there's four branches of government.' I'm like, 'dude, I'm poli sci and history. You're just a business major.' <laugh> 'OK, what's the fourth branch of government?' And he says, 'the Federal Reserve.' And I said, 'the what?'
So turns out, as you know, the Federal Reserve is not a branch of government. <Laugh> But that for me, all of my papers in college from then on were on that 'follow the money track.' I ended up writing a thesis on central banking in the US. I became enthralled with markets and banking and just wanted to figure out how the world works. Long story short, I got involved in finance [and] ended up working at Merrill.
[Then working at Teucrium] I fell in love with commodities. I will tell you, I find it very difficult to fundamentally pick stocks. I've obtained the CMT designation because supply and demand makes sense to me. I can look at charts and I can tell you, 'okay, high volume, prices going up.' What are the oscillators telling you, right? That stuff makes sense to me. Fundamentals in stocks, I have a tough time with. My brain doesn't work that way. Fundamentals in commodities are so much easier. It's just supply and demand, just like it is for a common stock. You know, if you're just looking at shares outstanding and the flow and the demand, it's the same thing for commodities. So commodity markets just make more sense to me than stock picking.