MGA Wealth Management LLC
Standing Meeting
March 10, 2025

Attendees:

• Alec Klungle
• Cody Kincaid
• Teddy Anderson
• Michael Brimble
• Boyd King

Agenda

Color Key: Completed | In Progress/Did Finish | Moved to Next Standing Meeting

• Bullshit
• Housekeeping
• TOUR Update
• Fund Moves
• Market Discussion
•  

Next Steps:

• All

Housekeeping

• Meeting next Monday.
•  

TOUR

• Jabronis
  • Boyd’s buddy: Bill
  • Alec’s Buddy: Stephen Potter
  • Potter has said he has a friend “Derian and he may be interested in the trip if you’re still trying to fill the spot. He would fit in great. Super laid back.”
• 2026
  • I think we should start planning for 2026 now, assuming it will be next April-ish.
  • I feel like maybe we can streamline the planning process a little more
  • Alec can’t pitch
  • Maybe we pick one of the other trips we did not choose. OKC or South Carolina or Utah
  • Jason turns 40 in 2026 – Europe trip. Maybe we marry the two ideas?
  • Home base? What is our home base? Vegas? Cabo?
  • Boyd, Cody, & Alec are Party Planning Committee for 2026
• Gamble Sands
  • Poor man’s Bandon
•  

Fund Moves

• What would this look like without TTD large losses?
• Admiral Fund
  • Added Vital Farms
  • Added to Mueller Industries
• Akro
  • Increased holdings in positions
  • Keep buying in. Thesis over the long term still says the same.
  •  

Market Discussion

• Heard a lot of money on Wall Street is moving toward companies with good, healthy balance sheets
• There is a flight to quality right now.
• Fundstrat
• Granny Shots
  • ETF focused on what millennials are investing into
• Cash Cowz
• Cybersecurity is going to be very critical for quantum computing
  • Prices have dropped significantly last couple months
  • Would have to be a whole different encryption power to things
• Crypto
  • Also affected by quantum computing
• Broadcom
  • Has cybersecurity
  • VMware
  • Communications sector with networking chips
  • Among other things.
• “Housing Market is Broken”
  • Housing is unaffordable
  • From an overall economic standpoint, that is not a good position to be in.
  • There are a few people that generate wealth and everyone else is living paycheck to paycheck.
  • “McMansions are more affordable”
    • Kind of cookie-cutter
  • The portion of someone’s paycheck that goes to mortgage payment is outrageous
  • “50% of people who earn $100k or more are living paycheck to paycheck.
  • Is consumerism the problem? Or is the housing market really broken?
  • https://www.census.gov/library/publications/2024/demo/p60-282.html
  • https://www.jchs.harvard.edu/blog/home-price-income-ratio-reaches-record-high-0
  • https://www.npr.org/2024/06/20/nx-s1-5005972/home-prices-wages-paychecks-rent-housing-harvard-report
  •  
• Rate Cut
  • Fed might be getting to a point where they have to cut because of economic issues.
  • If there is an economic contraction….
  • All of this turmoil could create a lot of value…in terms of refinancing and whatnot.
• Work From Home
  • People are not going to move until they are required to move for a job.
  • If WFH is an option, people will seek other jobs.