Market Cap Game Show: “Boring Stocks… Eh?!”
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This episode is brought to you by Amazon Business. How can you free up your team from time-consuming office tasks? Amazon Business empowers leaders to not only streamline purchasing, but better support their teams so they can focus on strategy and growth, free up your teams, and focus on your future. Learn more about the technology, insights, and support available at amazonbusiness.com. The price per share of a stock tells you almost nothing. It's the price to buy one share of the stock.

But how many shares does the company have outstanding? Well, in math, we multiply two multiplicands together, but the price per share is only one multiplicand. If you don't know the other, you can't do any meaningful math or figure out much of the world around you. Well, fools with a capital F know that you need to know the shares outstanding.

and then multiply that by the price per share, and now you know the actual full value of the company. It's full price tag. It's market capitalization, market cap.

Well, to teach this lesson inexorably and unforgettably, we invented a game. That's what I do. The date was August 9th, 2017. The Market Cap Game Show was born, and we've been playing every quarter since. Oh, and you're playing too. I designed it that way so you can play along against my guest stars, against your spouse or partner.

against your kids. Can you outscore my talented contestants? It's that time of the quarter again, 10 new stocks, three guest stars, Jason Moser, Lauren Hurst, and you only on this week's Rule Breaker Investing. It's the Rule Breaker Investing Podcast with Motley Fool co-founder David Gardner.

Welcome back to Rule Breaker Investing. This is the Market Cap Game Show, played here in June 2025 for, yep, the 36th time. We have two rookies joining us here for game number 36. Well, first-timers to the game, but it would be silly to call them rookies when this week's two contestants are both longtime fools. You'll get to know Jason Moser and Lauren Hurst a lot better in the next hour, and you'll get to know 10 stocks better later.

Now, of course, the third player, and to us the most important, is you. That's right, you, our dear fellow Foolish listeners. We begin to crank up our signature Market Cap Game Show music.

Let me just briefly remind especially new listeners, new players, I'll be mentioning a stock. Neither Jason nor Lauren knows what stock is coming. I'll turn to one of them, and that fool will do his best to state a numerical range within which the market cap falls. The other contestant, and you playing at home, will simply say, I agree, meaning it's accurate. The stock's value falls inside that range. Or I disagree, I think it's outside the stated range. So you simply agree,

All right, let me introduce our first contestant for stock number one. Originally from South Carolina, Jason Moser got his BA in economics from Wofford College and lives in Fairfax Station, Virginia with his wife and two college student daughters. Jason Moser is a professor at the University of California, and he's a professor at the University of California,

As a senior analyst, he's been with The Motley Fool since 2010, serving on the investing team, working to make our fools around the world smarter, happier, and richer. Jason, welcome. Very happy to be here. Thanks for having me. Jason, it is your first Market Cap Game Show. When were you most recently a rookie at something?

Gee whiz. At my age, that's tricky to say. I guess technically... Now, I mean, I think you know I've played golf for pretty much all my life. You're pretty good at it. Well, so thank you. Some days are better than others. I guess technically, I've entered a new stage of life recently. I mean, I'm 52 years old now, and that qualifies me as a senior golfer in the eyes of the Virginia State Golf Association. So last year...

I decided to try to go out and qualify for the Virginia Senior Amateur Championship. And that was, you know, fun. I enjoyed playing competitive golf growing up. I ended up going through the qualifier and qualifying. So I got to play in the Virginia State Senior Amateur Championship last year. That was the first time I played in it. You were a rookie. I

I mean, I guess technically, yeah. I mean, I played golf all my life. That was the first time I'd ever played any kind of a senior championship, which was a lot of fun. I got a lot of great experience, and hopefully it serves me well for many of my golden years to come. Well, that's really fantastic, Jason. Let's shift now to stock No. 1. On a scale of just throw on whatever's clean to curate my outfit meticulously, Jason, how would you describe your personal approach to getting dressed each morning?

pretty much just

Whatever's available. I don't think too hard about it anymore. Working from home has changed my behavior a little bit. A lot of times, it's just a pair of slacks and some t-shirts. Well, thanks for coming into Fool HQ Studios today with pants on. I'm thrilled to be here. It's always nice to come back home. Have you ever trusted someone else to pick out your clothes for you, Jason? And if so, did they make you feel more confident or make you immediately want your money back? I trust my wife,

Completely. She buys a lot of my clothes for me. As a matter of fact, for Father's Day, she bought me a couple of really nice golf shirts, and I love them both.

Beautiful. Well, stock number one is Stitch Fix, ticker symbol S-F-I-X. Stitch Fix, an online personal styling service that sends curated clothing selections to subscribers like me, by the way, guys. I'm one of them, based on our style preferences and feedback, offering a tailored wardrobe without the hassle. So Stitch Fix is the market cap we're thinking about and

Oh my gosh, it's throwdown time. Okay, Pencils Out fools Jason and Lauren will now write down their best market cap range for Stitch Fix. And once they share their ranges, players at home, just pick the contestant you think made the better guess. You simply say Jason or Lauren, and if you're right, score a point. Now, if only one of them gets the market cap range right, by the way, of course.

He gets the point. But if both of them are right, the contestant with the tighter range will take the point. And if they're both wrong, well, of course, that would never happen on this show, but I don't even remember it ever happening once.

even once ever on this show. But for instance, if that did happen, whoever's closer to the actual market cap with their nearest parameter will get the plus one. So we do this twice every show. Let's do it. Stock number one is Stitch Fix, ticker symbol SFIX. Okay, I'm going to turn back to Jason. Jason, what is your best guess here at Stitch Fix? Jason Hall

I am going with $675 million to $820 million. $675 to $820 million. Lauren, we haven't even introduced you yet, and we're already talking. We'll do that in a sec, but let's go right now to your call for Stitch Fix's Throwdown Market Cap. Well, David, I do agree with Jason that this is a micro cap. I do believe it's less than a billion, and my range is a little bit wider than his. I did $475 to $900 million.

$475 to $900 million. Guys, those are both excellent guesses. So, listeners at home, it's time to say, do you agree with Jason or do you agree with Lauren?

And if you agreed with Lauren, give yourself a plus one. That slightly more generous range that you gave yourself, Lauren, was in fact enough to take it. The market cap for Stitch Fix, by the way, all of these were fixed at noon Tuesday, June 17th. Yesterday, for those who listen to this podcast as it comes out on each Wednesday.

At noon, it was $522.59 million. So, you're both right. It's a micro-cap company at this point. It's not been a great stock pick. We'll talk about that in a sec. But, Lauren, you said $475 to $900. $522 fits within that range. Jason went a little high, going a little tight. I like the ambition there, Jason. And just weeks ago, it probably was within that market cap range.

The stock has been volatile. This company came public in 2017. It was around $15 a share eight years ago. Stock Advisor and Rule Breakers, two services that I really love, both liked it in 2018 in the mid-20s. So, do you remember that COVID spike when we all thought we'd be working from home forever, even though some of us are seemingly still working from home forever? And maybe you would just have your clothes delivered to you? That saw Stitch Fix Stock

up to about $90 a share in early 2021. The fall of 2022, it dropped below, get this, $5 a share, where it's pretty much stayed ever since, rattling around $4 a share. Stanford grad and Harvard MBA Katrina Lake founded this company in 2011. She stepped down as CEO August of 2021. The business was originally called Rack &

Jason, which is a better name in your mind? Rack, Habit, or Stitch Fix? Stitch Fix, clearly. I agree. It's just indubitably Stitch Fix. All right. Well, let's move on to stock number two. Again, if you said, Lauren, give yourself a plus one. Lauren, you're up one nothing. And I'm now turning to you. Lauren Hurst is an investment analyst at The Motley Fool, working primarily on the team rule breakers side of our flagship stock advisor service. His time at The Fool started as a temp on

on our member services team a decade ago, followed by a stint as a product manager working behind the scenes on many of our Motley Fool services. You can find Loren sharing his thoughts and encouraging newbies in our community as TMF Loren Hurst. He holds a degree in economics. Are you guys both econ majors? I know. Oh my gosh. So...

I'm an English major. I initially selected econ as my intended major, but I just found the Keynesian graphs, the classes, the way it was taught in my school was just kind of boring. I know it was more interesting at Wofford and Allegheny than it was at North Carolina, because I was just like, I'll take a few of these courses, I'm not majoring in econ. I'll be honest, the most impactful economic class I took in college was econ 010, personal finance. So, if you don't have an economics background, that doesn't mean you can't be a good investor.

Well said. Let's hope that's the case. Lauren, also worth noting, you reside in Washington, D.C. with your wife. You enjoy video games, as do I, and re-watching 90s cartoons. Let's stick with video games for a sec. What do you plan?

Right now, I'm currently replaying some of the games of my youth. I'm a very nostalgic person, as we said, with the 90s cartoons. So I'm replaying the Assassin's Creed series. Yeah, that's a big series to replay since there are so many of them at this point. Yeah. All right. Well, Lauren, I've had Jason on a number of times in the past, including telling his story a few years ago, which was one worth listening to again. I think it was with Matt Argesinger. It was 2021. Oh, yeah, yeah, yeah.

But Lauren, this is your Rule Breaker Investing podcast debut. You've been passionate about investing since you first came to our company. You mentioned starting in member services. What did you learn picking up the phones and answering calls from people calling in to talk to The Motley Fool?

I think the most important thing is that there are so many different types of investors. And obviously, as the Motley Fool, that Motley concept really leads into the fact there's not one right answer for everyone. And since we work here on the publishing side, we can't give personalized advice. So it was really important just to try to figure out

What members were looking for and then made sure that they had all their options. I always like to try to explain to members what we believe because a lot of people come to us thinking like we have to get rich quick. We have to find the right price at the right time and not hold our winners. And, you know, being able to have those conversations with them is what really made me a foolish investor for the long run.

Well, we've been really fortunate to have you doing those conversations. And now as an analyst on our investment team, having them more about stocks. But that experience, Lauren, of just talking with anybody who's calling up who's maybe thinking of canceling their Motley Fool service because one of my stock picks went down or they're occasionally thanking us for, I don't know, five or 10 years. What a great experience for so many of our people who've moved on in different places. Often they start a member services at our company. You're a great example of

When you think about Rule Breaker Investing, Lauren Hurst, what are a few of the classic Rule Breaker stocks that come to mind for you? Well, certainly right now, I think the king of the hill is Nvidia. There were also, for many of the 2010s, Amazon and Netflix duking it out as what was our most successful recommendation in history.

Those winners that kept winning, the ones that we didn't only, or speaking for you specifically, you didn't only recommend 20 years ago, but you held that entire time and let them compound that entire time. Those are the quintessential rule breakers. Well, thank you. And while you didn't mention this one, because admittedly, it's not as well known as NVIDIA or Amazon.

Intuitive Surgical, in a lot of ways, is a classic Rule Breakers stock right there in the Rule Breakers service. Again, a lot of fools may know this, but when I sort of put this out there, cocktail parties in the world at large, many people have never even heard of Intuitive Surgical. But its DaVinci Surgical robot system allows surgeons to perform complex procedures with

with precision-controlled instruments. It's revolutionized minimally invasive surgery worldwide. It started with prostatectomies, so the removal of the male prostate gland. It's become so much more than that. I often think, you know, won't all surgery in time maybe become robotic surgery? This company remains beautifully positioned, but

Enough about the company, Lauren Hurst. Let's talk about the market cap. So we're returning to our normal format where I'm simply going to ask you your range, and then Jason and listeners at home will agree or disagree. Lauren Hurst, what is your market cap range for Intuitive Surgical? So I have not studied this company that closely, but I do know it is, if not the, it is one of the most successful, highest performing recommendations in the history of your Rule Breaker service. So I'm trying to take that into account.

And so, my guess is going to be $130 billion to $185 billion. $130 billion to $185 billion. Jason, have you ever looked at this stock? I have, yeah. I've looked at it. It's a recommendation back when we had our immersive technology service sort of standalone. Intuitive uses a lot of immersive technology for training and

Yeah, you studied it back then. Have you looked at the market cap recently? I must confess I have not. Well, players at home and Jason Moser, Lauren said $130 to $185 billion. The question then, Jason and listeners, is do you want to agree or disagree with Lauren's market cap? I'm going to disagree. I'm going to disagree. Listeners at home, all right, you said it. And...

You should have agreed because, I mean, we're talking about really, really close here. So I could have seen it either way. The market cap for Intuitive Surgical is $184.18 billion. That was just a little bit lower. Just...

just within Lauren's rather generous range. I mean, there's $55 billion you gave people to play with there, but it was right near the top of that range. Yeah, this company was first picked in Rule Breakers March 16th of 2005 at $4.91. So now that it's somewhere around $519 or so,

It's a 100-bagger, and I really appreciate you pointing out, Lauren, that the only way you're ever going to get a 100-bagger is if you hold it. If you hold it long enough to enjoy a 100-bagger. And I really do believe everyone can have a 100-bagger. I don't think there's any particular magic to it other than something you guys know so well as longtime fellow fools. Buy to hold.

All right. Well, Lauren, you're up 2-0. Let's move on to stock number three. Jason, when you think about companies changing their pricing models, do any come to mind?

I think, I mean, the obvious one to me, I guess technically they did change their pricing model. It was Netflix back in the day, very simple, one price, here's your subscription, whatnot. And through time, they've definitely introduced a number of different tiers. And I think the biggest change was when they introduced the ad-supported pricing model. And so that really did change the economics of the business in a lot of ways. So that's one that stands out.

That's a great example. And it really is a radical thing for companies, especially at scale, that are public companies, to change their pricing models for customers. And it takes leadership. It takes a willingness to take risk. And it doesn't always work. And stock number three, it's not gone great for Unity Software. Ticker symbol. Yep, it's one of those one-letter ticker symbols.

Unity Software, a leading platform for creating and operating real-time 3D content. Lauren Hurst, video games, for example. AR, VR experiences, interactive media. A lot of developers have used Unity over the years to make the games and entertainment that we enjoy. But the company, we'll talk about this in a sec, changed its pricing model a couple years ago. People in that industry were not happy. We're not particularly happy with that. Stock has not done great. More

More importantly, though, it's time to find out what Jason Moser thinks the market cap of Unity Software, ticker symbol U, your range, Jason, for ticker symbol U. I'm going to go $2.2 to $3.2 billion. $2.2 to $3.2 billion. Lauren, is this stock you've looked at at all? I haven't followed it closely. Now, I do own shares. And...

That seemingly would give you some kind of an edge. We'll see. I think I would follow it closely if that were the case. And I know that both Team Hidden Gems and Team Rule Breakers in Stock Advisor recommended. So there has been a lot of conviction at different times there.

And as I mentioned, this is one that I own, but I think I own dozens of dollars worth of it. So it's one of my smaller positions and I haven't followed it closely. But I do believe that Jason's on the low side. I think it's a little bit higher. So I'm going to say outside the range. All right. So Lauren has said outside the range. Listeners at home, it's time for you to agree or disagree with Jason. All right. You said it.

And indeed, if you disagreed, that was the right call here. Jason did go low. Probably a stock that Jason doesn't own. So in a way, while Lauren wins against the point, Jason, you might win by not owning this stock because it has been an underperformer. I must confess, I do own a handful of shares that I bought a number of years back. But like Lauren, it's become such an insane, it's just a small handful of shares to begin with.

And I'm typically kind of a lazy investor. I don't do a lot of selling. You and I share that. I just kind of hang on and just keep on living. Absolutely. So, yeah, it's one that obviously didn't perform as well as we had hoped. Well, I first picked it on October 22nd of 2020. An ill wind blew that day, I guess. It was just over $100 a share. It was at $101.

By the summer of 2023, it was at 50. By the year end, after the company announced, it was changing its pricing based on basically how many download counts.

games and other forms of interactive media would get. Like, if what you created with our tools gets downloaded a ton, you're going to pay us more. And so, that shift in how Unity was being paid was received very negatively by people who said stuff like, "Yeah, well, what if people artificially pump up the download numbers? Where do those come from?" By the end of that year, CEO John Riccatello had stepped down from the company last August. It touched $14 a share. Again, I picked it at $101. Ouch!

I am happy to say it's rallied back to about $24 billion as of today. Maybe you guys would know that with the few shares that you have. But the market cap of Unity Software cutting to the chase here is $9.94 billion. So, right about $10 billion. So, well ahead of Jason's range. And Jason, this is where I remind everyone that I'm glad I don't have to play this game, because I would not have done very well with Unity Software. It is bigger, though. I mean,

In a lot of ways, it's an outsized brand. It's something, especially if you're a gamer, you see Unity pop up and the credits that help make this game. You see a lot of it. There are a lot of developers who still use Unity. And something surprising about Unity is there's a piece of its business that overlaps with that of Applovin, another Stock Advisor recommendation. That's right. And

It might be surprising if you were to go onto our site and sort our scorecard by market cap, you might see that Applovin's 10 or 12 times as large.

Yeah. And I think that they had a merger agreement that they were in position for some years ago that ended up not happening. Yeah. Yeah. All right. Well, Lauren, you are bringing some savvy. Your knowledge of our scorecards and up and down answering a lot of questions for other people being there in the community teaching noobs has led you to a 3-0 lead here as we move on to stock number four. Turning now to you, Lauren Hurst. Ever been to New Mexico? I don't believe I have. Why not?

I would say generally because I don't know anyone who's had a wedding there yet. Good answer. Breaking Bad was set in New Mexico. Was it? Yeah. Was it? Like outside? Albuquerque. Yeah. I got to go to New Mexico back in the day with the Boy Scouts. Went to Camp Film on there. Nice. Beautiful state. Well,

Well, this may serve you well. We'll see, Jason. I am turning to Lauren for this one, but ultimately, it's going to be your agree or disagree that gives you the point here. So, let's keep talking about this company, but now from another angle. Lauren, have you ever invested using a merger arbitrage strategy? Where I was looking specifically at a potential acquisition target?

Yeah. More to the point here, this particular company is in the process of merging. And one of our services, Ultimate Income, overseen by Matt Argersinger, one of our services has recommended this stock because he's like, hey, it still remains under the price where it's going to be acquired, and they're going to keep paying dividends. It's the Ultimate Income service. And so, for that reason, TXNM Energy, do you guys want to guess the ticker symbol?

TXNM. You nailed it. TXNM Energy is stock No. 4. Now, this is also my opportunity to remind everybody, I randomize from our top 500 stocks of most interest from all of our members. That's why Jason and Lauren have no idea what's coming. And I myself sometimes know nothing about the companies that we're playing with. And this would be one of them. But I always do a little bit of due diligence, read, learn. That's what we're all doing. Intellectual curiosity helps us as investors. So,

TXNM Energy is a publicly traded utility holding company that serves approximately 800,000 customers across New Mexico and Texas, as you might imagine. TX, that's the TX part. It was previously known as PNM Resources. It's now positioning itself for midstream energy growth under its modern name and

And it is being bought out by Blackstone Energy. So we'll talk a little bit more about merger arbitrage in a sec, but let's get to the main question here, Lauren Hurst, which is,

What is your stated market cap range for a company you may just be discovering as we speak? TXNM Energy. I'll be honest, I have not heard of this one before. And one of the fun parts as a longtime listener of this game show is hearing about a company for the very first time and then learning that it's worth $200 billion. But even though this is one, if it's in the energy sector, you would have to assume there's a lot of capitalization

capital outlays, that there's a lot of investment in that. It can't be too small. But because I haven't heard of it, I'm going to throw out a guess here.

Of $9 billion to $17 billion. $9 billion to $17 billion. Jason, have you been to New Mexico? Yes. You just said it. Can you say the context again? Summer camp? Yeah. Well, I was in the Boy Scouts growing up, and there is a camp out there called Camp Philmont. And so any folks who've been in the Scouts, they would be familiar with that name, I'm sure. But it's a couple of weeks of just hiking throughout the New Mexico mountains and

roughing it. And it was just an amazing experience, I remember to this day. That's fantastic. You weren't paying a utility bill, though, at the time. No, we didn't have any utilities other than our campfires. Well said. Well, Lauren went with $9 billion to $17 billion.

Listeners at home, Jason Moser, do you want to agree with Lauren's range or disagree with Lauren's range? Yeah, I've got zero file on this company, so no clue. I suspect many listeners are feeling you right now. I'm going to err on the side of it.

maybe being a little bit bigger, I'm going to disagree and think it might just be a little bit larger given the nature of the business. All right. Well, listeners at home, Jason has disagreed and you've made your call. And if you with Jason disagreed, give yourself a plus one. Now, somewhat ironically, Jason, you were on the wrong side of that. And yet you still get a plus one, which is one of the reasons I love the Market Cap Game Show. You can get. And you should too. The actual market cap for TXNMA.

Energy is $5.23 billion. A smaller company, not a well-known company and not a very populous area. It does have some of Texas that it serves. But yeah, Ultimate Income put out a buy on the stock last month with an event-driven thesis. It's being bought up by Blackstone Energy, a subsidiary of that massive asset management firm. So Matt likes the spread between the present price, where it is today, and the higher buyout price.

It still needs to go through a review to see if it's acceptable as a merger. But the company has committed to keep paying its dividend

for as long as necessary until the merger is consummated, which Matt also likes. And so, our pal and colleague Matt Argersinger says there's about an 8.5% expected return annualized from this. And therefore, Ultimate Income put out a buy some weeks ago on TXNM Energy. So, yeah, a merger arbitrage strategy. I love it. I mean, I'm always looking for one of two things, either a short-term catalyst or a long-term trend.

Most of the time, it's a long-term trend given the nature of how we invest. But I think it's really cool to find those short-term catalysts. And that's a perfect example of a short-term catalyst. Thank you. And that's very well said. On the other hand, there's a reason why this is called picking up pennies in front of a steamroller. And so there's a point where if there's a known buyout price that is 5%, 10%, 15% higher than where the shares are currently trading, there's definitely an opportunity there.

Once it gets to maybe 1% or 2%, that's where I start to lose interest. Yeah. Well, this continues to be right around where Matt recommended it, so he would still see what looks like an attractive... There is a chance that merger doesn't go through, at which point it would fall back some, no doubt. But I think he likes the underlying business as well. And I know Jason likes this company more than 10 minutes ago, because it just gave him his first point here. It's Lauren 3, Jason 1. Let's move on to stock No. 5. Jason...

What's a good boring company whose stock you favor and or with which you've made some good money over time? Boring. I will go with my most recent purchase, David. I think you'll appreciate this. Waste Management. Love it! I mean, trash is everywhere, right? It's boring, but man, I'll tell you, this company owns the market, largest network of landfills in the country, and a

The barriers to entry are very high, right? I mean, there's a lot of regulatory red tape to get through. And waste management has really –

Really impressed me. So I was happy to add it to my retirement portfolio and would keep adding to that and just enjoy those dividends. That's great, Jason. Yeah. It'll come back one or two more times for this particular Market Cap Game Show. But boring stocks, stocks that people don't necessarily get excited about on CNBC or on The Wall Street Journal. But in our portfolios, buying and holding, some of these companies really rack up impressive returns. I was just thinking about, what's another example of boring for me? Casey's General Stores.

It's kind of like 7-Elevens in the Middle West and Texas. That company has been a six-bagger over the last 10 years. It was a phenomenal return. I know a lot of people, especially in the Midwest, know and love Casey's, but many others would not ever have heard of it or think, is that a stock that I would buy?

So, waste management, much bigger. Casey's smaller. Let's go to stock number five, Old Dominion Freight Line. So, this is a top U.S. provider of lighter-than-truckload shipping. So, specifically what that means is,

This company's buttered its bread for decades by not filling up the truck. It's like taking little bits and putting something there and something there in the back of the truck. It's not even full, but it's going multiple places to drop those things off. And the logistics of that and to do that well, profitably, is not easy.

And they're hard to compete with because they do it so well. So that's a brief overview of the less-than-truckload LTL shipping, moving freight efficiently across the country with a reputation for reliability and service. I don't know if this affects your guess here, Jason, but it's worth pointing out this company has been, I think, the Major League Baseball official trucking company for a while. It's

It's based in Winchester, Virginia, but I don't want to give too much more information because I'm about to quiz you the market cap of Old Dominion Freight Line, ticker symbol ODFL. Yeah, another one I just have no file on, but it sounds like they do a darn good job. It's boring. So I'm going to go with...

$13 billion to $18 billion. $13 billion to $18 billion. Lauren, what's the closest you've ever gotten to the trucking industry? I've driven next to them on the highways. Nice. Do you do the arm motion to get them to pull the horn? There was a time. As a kid, you're pumping the arm? Yeah, yeah.

How about Old Dominion Freight Line? Is this stock you have in the Hearst portfolio? No. And it is one that we do recommend on the Team Rule Breaker side of Stock Advisor. I have not looked closely. I do believe it's one that has been, maybe it's not been public very long. I think it's a third generation family company. And so there's a question of how large could it have grown over all that time?

And with Jason's range, what was it again? $13 billion to $18 billion. I think he's close on the high side. So listeners at home, Lauren Hurst, do you want to agree with his 13 to 18 or disagree? I think I'm going to agree with Jason.

Well, you shouldn't have. This is a bigger company than maybe any of us was thinking. Ticker symbol ODFL. Its market cap is $33.52 billion. It's actually down some from its highest highs. But yeah, this is a very substantial company. And I'm glad you mentioned, Lauren, the multiple generations. In fact, the year was 1934 when husband and wife Earl and Lillian Congdon

founded the company with a single straight truck. By the way, I looked up what straight truck, do you guys know what straight trucks are? I didn't know what that phrase meant. The opposite of a crooked one, I would imagine. Is it a truck that maybe isn't on a trailer? That's correct. It's one that doesn't have a trailer. It's just the truck. It's a straight truck. Right. It's not tagging anything behind it. Anyway, a single straight truck operating between Richmond and Norfolk, Virginia. And

And here we are, 91 years later, market cap $33.52 billion. This is a stock I first picked at $27.69. It was May of 2017. Today, around $159. So, it's been a five-bagger here in the roughly eight years that Motley Fool stock advisor members might have held it. Of course, some find stocks before we do. So, I bet someone's listening right now is like, I've had that stock longer than David has.

But what a fantastic company. And I love celebrating. That's what we're doing a little bit with Stock No. 5. Boring companies. Companies you haven't heard of and realizing, buy a few shares and hold, just like the Congdon family has done for a long time. Well, we're at halftime. It is Lauren 3, Jason 2. Jason, you are on your horse. Don't call us comeback. Comeback time. Okay, well, in the past, we've had, for our halftimes, marching bands,

music concerts, but this year, this year is special. It's 2025, and as I shared at the start of the year, my 2025 book, Rule Breaker Investing, is available for pre-order now. After 30 years of stock picking, this is my magnum opus, a lifetime of lessons distilled into one definitive guide, and each week until the book launches on September 16th,

I'm sharing a random excerpt. We break open the book to a random page, and I read a few sentences, and that's what we're doing for our halftime entertainment. So here's this week's Page Breaker Preview. A few sentences about sports betting toward the end of the book. Sports betting, by its nature, is zero-sum, and your expected return is always negative. The handicaps are set very effectively, whether we're talking about a six-and-a-half point favorite in basketball or seven-to-five odds at a horse track.

One better will win, the other will lose, and the house will always take its cut. Over time, almost all consistent sports bettors lose money. What happens to those who consistently invest over time?

End quote. That's this week's Page Breaker preview. To pre-order my final word on stock picking shaped by three decades of market-crushing success, just type Rule Breaker Investing into Amazon.com, BarnesandNoble.com, or wherever you shop for fine stock.

books. And thank you to everyone who's already pre-ordered. That means a lot to me. And that's halftime. The score is Lauren, three, Jason, two. Let's move on to stock number six. Lauren, do you happen to know what year the New York Stock Exchange opened? By the way, I had to look it up. Kind of fun. So yeah, like the origins of the exchange in New York is, you know, the Buttonwood Tree Agreement in the late 1700s. But the actual formal exchange as it exists today is

I'm going to say it's maybe 100 years old, so I'm going to say like 1925-ish. So fortunately, this is not being scored as part of the Market Cap Game Show, because it's much earlier. You did a great job with the origins. And in fact, the New York Stock Exchange opened in 1792. Did not know that. And the first stock traded, which is not stock No. 6, but stock No. 6 relates to this. That's why we're going here right now. The first stock traded was the Bank of New York.

Today, it's BNY, Bank of New York, Mellon Corp. First stock listed on the New York Stock Exchange. It was started by Alexander Hamilton.

And the bank had a monopoly on banking services in the city until this other upstart showed up, the Bank of the Manhattan Company, which was founded by Aaron Burr in 1799. The Bank of New York and Hamilton vigorously opposed its founding. We can talk about that in a little bit. But it's really fun to think about what are the companies that have been public for the longest? And the three that have been public for the longest are all banks. The

The fourth, Colgate-Palmolive, which was founded in 1806. The fifth, Procter & Gamble, 1837. But Bank of New York was the first, but it's not the biggest. In fact, America's largest bank, which offers consumer banking, investment banking, asset management, and wealth management, all the things...

Serving millions globally with a wide range of financial services, it is the world's fifth largest bank. It is America's largest bank. Ticker symbol JPM, JPMorgan Chase.

And we're going to go back to the history in a little bit because it's kind of fun. By the way, they're building a really big building. It's the JPMorgan Chase Building. I don't know if you guys have been in New York recently. It's at 270 Park Avenue, 1,388 feet. It's pretty noticeable. Let's put it that way. But more importantly, Lauren, let's go now to the market cap for America's largest bank

JPMorgan Chase, ticker symbol JPM. At this point, I think I know how many digits there are, but I'm not sure where in the hundreds of billions this might fall. But if I had to guess, which is what's happening here, I'm going to say $440 billion.

To $640 billion. All right. $440 billion to $640 billion. Jason, do you bank with JPMorgan Chase? Do you have any relationship with this company? I do not. Nope. Other than reading Jamie Dimon's annual letter. There you go. It's a fun company to follow, I guess, in that regard. But it's not one that I've ever owned, and we don't bank there. Nor I.

What was the range again? $440 billion to $640 billion. I feel like it might be a little lower. I'm going to disagree. All right, listeners at home, Jason has disagreed. What do you want to do? $440 to $640 inside that range or outside that range? Say it.

All right, you committed. And hilariously, plus one for Jason, who was on the wrong side again, but gets a point and ties the game 3-3. Because the market cap of J.P. Morgan is $749.30 billion, so basically three-quarters of a trillion dollars.

The world's, by the way, I mentioned earlier, fifth largest bank, but this is the world's largest market cap for any bank. If you can hold all those things in your head, JPMorgan, $749.30. So, since Lauren said $440 to $640, it was unbelievable.

above Lauren's range. Therefore, players at home, if you disagreed, give yourself a plus one. By the way, both Lauren and Jason now have three. How you doing at home? We hope you're beating us. I'm going to stop qualifying my answers, by the way. It seems like it's not working out. You'll sound so much smarter if you just say agree or disagree. Should I lose a point for getting it wrong with a $200 billion range?

That's not how this game works, but that's very humble of you. I appreciate that. It's interesting to see the predecessors of JPMorgan Chase, because their Bank of the Manhattan, which I'll mention in a sec, which was founded in 1799, but also Chemical Bank as part of it, 1824. JPMorgan was founded in 1871. Chase National Bank, 1877. And all of those were rolled up eventually into what is America's largest bank today.

I enjoy history. It's fun looking at really old companies. So sit with me around the fire, kids, for just two minutes here as we just do a little thing on the Chase Manhattan Bank, formed upon the 1955 purchase of Chase.

by the Bank of the Manhattan Company, which was, that's the one we're going to focus on now, which was established in 1799. So that's the oldest predecessor here. The Bank of the Manhattan Company, again, the creation of Aaron Burr, who transformed the company from a water carrier

into a bank. Now, according to page 115 of An Empire of Wealth by author John Steele Gordon, the origin of this strand of JPMorgan Chase's history runs as follows, and I quote, at the turn of the 19th century, obtaining a bank charter required an act of the state legislature.

This, of course, injected a powerful element of politics into the process and invited what today would be called corruption, but then was regarded as business as usual. Hamilton's political enemy and eventual murderer, Aaron Burr, was able to create a bank by sneaking a clause into a charter for a company called the Manhattan Company to provide clean water to New York City.

The innocuous-looking clause allowed the company to invest surplus capital in any lawful enterprise. Within six months of the company's creation and long before it had laid a single section of water pipe, the company opened a bank, the Bank of the Manhattan Company, still in existence today. It is

J.P. Morgan chased the largest bank in the United States, and the rest is history for Hamilton and Burr. I assume I'm not the only one who's seen Hamilton the Musical, guys? I haven't seen it. Loved it. Loved it. Okay, yeah. By the way, it's watchable, I think, on Disney+. Yeah, yeah. And it's sort of a live...

look into it. Back with Lin-Manuel Miranda himself in it. Lauren, you reminded me he played Hamilton. Of course he did, but you can see him play it. Many people played Hamilton since. You can see him play it in the Disney version for anybody who'd like to see it. But anyway, a little bit of history. I'm about to turn back to Jason for stock number seven, but Lauren, a quick thought.

It almost sounds like the first SPAC. Like you wanted this other business to be available, but you couldn't make it happen through the traditional means. And so you found the backdoor. Yeah. Yeah. They never even laid a section of water pipe and all of a sudden they're a bank. Those special purpose acquisition companies, which-

There are still some of those today, but it was very much the rage five, six, seven years ago, Lauren. A lot of companies found it a cheaper, quicker way to go public. And because of the filing requirements, they're allowed to be a lot more promotional whenever they talk about the future potential of the business rather than the typical legalese you might see in a regular firm.

filing. I don't think I have yet to ever have bought into a SPAC. Does either of you guys have some SPAC in your financial life? Well, I did. I tried one. I learned my lesson and SPAC me once, shame on me, whatever. But yeah, I'm not going to do it again. All right. If I have, I've already forgotten about it.

Alright, well, I'm not forgetting about the score, which is 3-3. Let's move on. Stock No. 7, Jason Moser. We let off this Market Cap Game Show, as you may recall, with Stitch Fix, whose ticker symbol is SFIX. Jason, do you happen to know what company uses the ticker symbol FIX? No.

Let me ask you this. Have you ever confidently tried to fix something yourself around the house and ended up making the situation dramatically less comfortable for everyone involved? No, I think I kind of know my lane. I consider myself handy. There are things I can do.

There are other things that I know I can't do. And so I really try to make sure I stay in my lane. Well, given that you're handy and I'm not at all, I do remember once trying to fix a toilet in my first house 30 years ago, and it was in pieces on the floor as I welcomed the plumber into the house. When it comes to plumbing, that's where I kind of just say, you know what, I'm calling in the expert.

Well, Comfort Systems USA has the ticker symbol FIX. It specializes in installing, maintaining, and servicing HVAC systems for commercial and industrial clients. Keeps buildings comfortable, energy efficient across North America. Tom Gardner, by the way, and his Moneyball portfolio are crushing it with this stock, but we'll talk about that in a sec. Tom Gardner.

Jay said, Comfort Systems USA. So, you know, you don't need to call plumbers and electricians and HVAC people as often, it sounds like, as I do, because you're a little bit more handy than I. But if you ever need to, Comfort Systems USA might be your go-to. More importantly, what is the market cap range for ticker symbol FIX? And you said this is industrial HVAC? I did include those words. I will put it out there for everybody, Lauren and players at home, too, for commercial and industrial clients. Okay.

Those are big-ticket clients. They're going to pay up for it. It sounds like, Jason, like me, you didn't know much about this company before right around now. No, I've not heard of it. I am going to go $28 billion to $35 billion. $28 billion to $35 billion.

Players at home, I know some of you, I bet some of you actually work for Comfort Systems USA, but I know some of you will know this company better than we might and might use their services. I hope on not too regular a basis. Lauren, have you ever looked at Comfort Systems USA? I haven't. And when you led in with Stitch Fix, I was really hoping you were going to go with Six Flags, ticker S-I-X, because I at least know what ballpark that company is. Yeah. On this one...

Well, Jason said $28 billion to $35 billion, players at home. Lauren? And I'm going to play this one solely based upon my opponent, and I'm hoping he is not familiar with the stock because I certainly don't have any idea what the value of this company is. But I'm going to go outside the range because I think he gave a pretty tight range there.

All right. So, Lauren has disagreed, said outside that $28 to $35 billion range. By the way, those are NFL, those are football numbers, 28 and 35. I see you. See, this is just around the corner. There you go. Players at home, do you want to agree or disagree? Lauren disagreed.

And if you disagreed, give yourself a plus one, because surely none of us around this table anyway at Full HQ Studios really knew that much about this company. Tom Gardner and his Moneyball portfolio, though, I'm going to mention this in a sec, do. The market cap for this company is $17.69 billion. So, well below, but not crazy. I mean, sort of, if we're counting digits, Lauren,

It's the same number of digits. Yeah, exactly. $28 billion with lots of zeros is not that different from 17 with lots of zeros. So give yourself, again, a plus one if you disagreed with Jason's range. Jason, do you feel inspired now to call up your HVAC guy and make good on it? I'm hoping I don't have to.

When you mentioned this, it reminds me of a company called Wattsco, which serves more in the residential HVAC stuff. I believe that's still a recommendation. I think in Stock Advisor, it's been a tremendous performer over the years.

Yeah, I just never heard of this. I mean, we can't know everything about every company. Am I right, guys? No, we can't. We can't. Speaking of boring businesses. Yeah, it's true. And Watsco, by the way, which is a company I've heard of but never really looked at, I just Googled it, and Watsco's market cap is $17.46 billion, which is basically the same size as Comfort Systems USA at $17.69 billion.

This is maybe an oligopoly, but these companies are shoulder to shoulder right there with each other. So, one has an easier-to-remember ticker symbol, though, FIX. One of those companies that cutely decides to spell a word with its ticker symbol. Well, Lauren, you disagreed, plus one. So, we're Lauren four, Jason three. As we hit the home stretch, our final three stocks. Let me turn back stock number eight to Lauren. Lauren, when you're traveling, what

What's your personal approach? Are you the kind of person who gets to the airport with plenty of margin for error, or do you treat boarding your flight like a daring precision operation? The variable is whether I'm traveling with my wife. Because if I'm going by myself...

I can cut it close sometimes, but if I'm traveling with my wife, then we'll get there early. We'll go to the lounge. It'll be relaxing. It won't be an ordeal. And honestly, that's how most people should do it. Yeah. That sounds more stress-free. Isn't that the life you mean to live? You would think that would be the default if I were operating on my own. And yet... I think a lot of us can relate. Lauren, while you're settling into your seat,

Do you ever pause to appreciate all the ridiculously expensive tiny little gadgets and gizmos that are secretly holding that airplane together? Or is ignorance bliss at cruising altitude? It is one of those situations where I would like to believe that everything is designed and precise and working and not being chosen from its supplier because it was the lowest bidder. And so...

I like to believe in the system and not think too hard about it. All right. Well, Transdime Group, ticker symbol TDG, is a major supplier of highly engineered aerospace components, thinking about stuff like flight control systems, pumps, specialized fasteners, used on commercial and military aircraft worldwide. And its business model focuses on aftermarket sales, proprietary parts. It helps the company keep strong margins...

and steady recurring revenue. The ticker symbol for Transdime D-I-G-M, Transdime Group is T-D-G. And the question, Lauren Hurst, is what is your stated market cap range for Transdime Group, ticker symbol T-D-G? Obviously with airplane parts, we're not talking about a small business here. The question is just how large. So I'm going to say $47 billion.

To $72 billion. $47 billion to $72 billion. Jason, do you have any fear of flying? Have you ever? No. You're good. No, I'm pretty good. My dad, he's a physician by trade. He got his pilot's license when I was just a little kid. So he had a little four-seater Cessna that he would take us up in. Yeah, wow. So when you get on the big planes, the level of comfort is tremendous.

It's far greater, so I've never really had an issue with it. Any dicey moments ever with Dad there in the four-seat Cessna? No. Good. I'm glad. I would not want to think about that. He would fly us to the Bahamas for meetings. He would fly us to the eastern shore of Maryland to go goose hunting. What a dad!

to Greensboro, North Carolina to go see her grandparents. I mean, yeah, it was really cool. That's beautiful. Given that story, I'm kind of rooting for you for this one, Jason. I feel like you have more in touch with Transzyme Group maybe than Lauren or maybe a lot of the rest of us do. Lauren said $47 billion to $72 billion. Listeners at home, Jason Moser, are you wanting to agree or disagree with that range? Yeah, I think it's a healthy range. I actually agree with it.

Well, that is a shame because it was just a little bit low. And so the right call was to disagree because Transdime is $80.32 billion. I mean, it was close. That was a big, generous range that Loren gave himself. This is a company, again, that is very vital. It's been a great stock. We're going to talk about that in a sec. But most people have never heard, I don't think,

of Transdime Group. And I don't think I would have made a great guess at the market cap, even though I'm really happy to say I picked it on July 20th of 2012 for Stock Advisor members. The stock was at $59.52.

in July 13 years ago, and it's up 24 times in value, 2,319%. This has been a monster winner. And one of those companies that you'll see written up in investing books sometimes, they'll point out how well the CEO is an asset allocator and how this quiet, steady business just keeps cranking as it has indeed for now more than, I was going to say one decade for our members, but really decades for shareholders of long vintage.

That was actually supposed to be our second throwdown. Oh, okay. But now we will shift the final throwdown to the final stock, number 10. We're about to do number nine. So anyway, so that's on me. That's why I hesitated. It's like, oh, that was the throwdown, but it didn't matter. Good job. And it's five to three. So the drama, Jason-

Jason has his back against the wall here, which is awesome. We've been playing the Mark Gap Game Show 36 times. Sometimes it'll be like 7-1 at this point and it's hopeless and over. You got a shot here, so we'll see. I'll have to bring out an 11 stock if you get the next two points. Okay.

Lauren, five. Jason, three. We're on to stock number nine. Jason Moser, you have an opportunity to nail these last two and send us into overtime. You're going to need to do it to keep that chance for a final four seat this coming March. Are you feeling up to it? I'm always up to it. You look like you're up to it. So, Jason, for company number nine, I went to their website, and it's one of those sort of video-driven homepages, right?

And the big phrase that presents itself above the fold on this company's website is performance engineered for your life outdoors.

Any guesses what that company might be? I feel like it might be Yeti, but I don't know. Not a bad guess at all. I'll give you one more hint. This is not the quiz, by the way. We're just having fun. But the three tasks they invite you to perform on their website, on the homepage, are, number one, to calculate costs. Discover which products fit your budget. That's number one. Calculate your costs. Number two, color selector. Which hue, it says, says you correctly.

And then the third task you can complete is to order a sample. Get a closer look. Do you want to make one more guess before we actually talk about this company?

I just performance engineered for... Do you like to barbecue? Oh, yeah. I've got a Traeger at home, David. Okay, yeah. I thought I remembered that about you. Do you have a deck that you barbecue on? And maybe we're... Okay, is it Trex? Because I have a Trex deck on which my Traeger sits. Well, that seems very advantageous, potentially, because that is indeed stock number nine. The ticker symbol is T-R-E-X. And yeah, Trex, a

pioneer in the eco-friendly composite decking that's made from recycled wood and plastic. It's used by homeowners like the Moser family across North America for durable, low-maintenance outdoor living spaces. As I said at the start, performance-engineered for your life outdoors. Jason Moser, I'm not going to say the pressure's on because that would only make you feel pressure.

But what is your stated market cap range for Trek's company, ticker symbol T-R-E-X, based, by the way, in Winchester, Virginia? Well, I know how much I paid for that deck, and those guys make some money. I do not know the company itself. I haven't followed it. But I am going to go...

$20 to $30 billion. All right, $20 billion to $30 billion. Lauren, do you have any relationship as a consumer with the Trex company? I don't. I live in a condo building in D.C., so all of the materials have been provided to us beforehand. Is there some decking that goes around outside the condo? A little bit, but technically I don't own it. Yeah, sure. So I haven't had to make any purchasing decisions. I will say, as Jason was giving his range, I was thinking of a very similar.

one. I was thinking 20 to 40. So the question is, he said 20 to 30, he said 20 to 30. So the question is if I, if it were, uh, you know, over under on 30 billion, which side am I taking before you make your call, Jason? I do note that you can, there's a color selector on, on the website, which, which hue says you, well,

Well, we have, it's like a, it's like a blue gray kind of color. It goes with the siding of the house. Yeah. Yeah. Nicely matched. When we moved into our house eight years ago, it was an old wooden deck that just was in its last days. And so we,

And were you right away, we're going Trex? Oh, yeah. Well, my wife and I were both like, no, we need to build something that lasts because, you know, eventually we'll want to sell the house. And when you do that, that's a nice sort of, you can be like, hey, look, you're never going to have to worry about this deck. All you got to do is just pressure wash it once a year. It really is a great product. Lauren, hers, Jason said $20 to $30 billion. You were thinking $20 to $40. Listeners at home, Lauren, do you want to agree or disagree with Jason?

I think I'm going to disagree with Jason because when we're talking about decks, we're talking about outside. So I'm going to say outside the range. I like that. And indeed, that was the right call. And therefore, Lauren clinches victory. $20 to $30 billion was actually quite a bit high there.

Trex has been a fantastic stock. We'll talk about that in a sec. But I wish it had reached a $30 billion market cap. Trex's market cap is $5.88 billion. So, it's sub-six. But get this, Rick Munarriz first picked this stock for Rule Breakers July 25th, so summer 2012.

It was at $3.38 a share then. Today, it's $55. So it's a 16-bagger. This is a stock, by the way, that was up at $135 and dropped to $45 in 2022, which was a gut punch year for a lot of portfolios, mine included. So it's still sitting at $55 a share today, well down from its all-time highs.

but way up from our pick at $3 a share back in 2012. So yeah, this company has been fantastic. And isn't it interesting to think about that? The company, its market cap is that low, and yet we've made 16 times our money by holding, friends, another boring company that most people wouldn't even think that's a stock you'd want to buy. Well, I wouldn't call it boring. I have a lot of fun on my- I actually agree. I totally agree. No, I'm with you. I get it. I mean, it is just a boring idea, right? It's just a-

You wouldn't think about it. Yeah, they're not manufacturing internet-connected planks. Right, exactly. Well, not yet, at least. One of the lessons I've often pointed out that I love about the Market Cap Game Show is when you do think a stock has a higher market cap, both you guys had this somewhere 20-plus. Yeah. And then you find out it's 5.5. I thought...

I think maybe that goes in your watch list. What you're saying is –

Also, think about sort of a short-term catalyst. When rates start coming back down, and they will eventually, modestly, slowly, but they will, that frees up a little spending. That makes it a bit more attractive for folks to either take out that home equity line of credit and do some work or sell the house and move, and then they're doing whatever they do to that new house. And so I think there is a little bit of both there with this company.

Thank you. Well said. And this has been really, again, a fantastic performer. Still less than half of its highs during COVID, but way up over the last 13 years in a company that we certainly continue to favor at Motley Fool Rule Breakers. Well, we're going to move on to stock number 10. Jason, while you have been mathematically eliminated, I always like to point out to my players that

People tend to remember what happens at the end. So you have an opportunity here to distinguish yourself and make it even closer. It's 6-3. We go on to stock No. 10, our last one for this Market Cap Game Show. Turning back to Lauren. Lauren, if you were to start listing out the best-known companies in the world, worldwide, randomly asking any of Earth's 8 billion inhabitants, what's a present-day company they've heard of, a brand they recognize? What's on your short list?

I think number one on the list would be Coca-Cola. And I just watched the Netflix documentary on the Titanic submersible. And I believe they, I think there was a quote at some point that said like there were, you know, three words in the English language that were universally known throughout the world. Titanic was one of them. Coca-Cola was another. I don't remember. I had, I've not seen that documentary. And that's a, that's a great answer. That's not stock number 10. What, what other companies might be on that short list?

Yeah, I'm trying to think of consumer brands that have a global presence. And obviously, some of the largest companies in the world, like Apple, certainly would come to mind. Yeah, that would be on the short list. Jason, any jump to mind for you? Well, Apple was the one that really stood out. Yeah.

I always found it interesting in our travels. I mean, we've been to Egypt and Kazakhstan and all over, and Starbucks always held a really strong sway wherever we went. People knew the logo. They knew the brand. In many cases, it was aspirational. I just found that very interesting, the global sort of presence that Starbucks has actually maintained.

That's another great one. And really, if you were to build a portfolio based on foundational stocks of the world's best-known brands, I think you'd probably do pretty well. You certainly would have done great with that small portfolio of those stocks you guys just mentioned over the last 20 years. How about

One more here, guys. How about a famous global brand that you'd bet your bottom dollar nearly every kid, probably their parents on the planet, would instantly recognize, even if they can't quite remember their own address? Every kid? Disney? That is stock number 10. Wow. Ticker symbol DIS. And?

Yep, it's a throwdown. It's time to go into throwdown mode for stock number 10. Jason and Lauren writing down their best market cap range guesses as tight as they can be and as accurately as they can write it down for stock number 10. Disney, yeah. Walt Disney, you know that Disney. Global entertainment powerhouse known for its iconic film studios, theme parks, media networks, streaming platforms, Disney+.

It is a brand woven deeply into popular culture. It's been a fantastic investment over the long term. Last few years, not been so great. It'll be very interesting to see where our players come out with their stated market cap ranges. And again, listeners at home, all you have to do is say, I agree with Jason or I agree with Lauren. Let's turn to Lauren. Lauren, what is your, looks like your pencil is down. What is your market cap range for Disney?

David, I gave a range of $220 billion to $260 billion. $220 to $260 billion. Jason, what do you got? $210 billion to $230 billion. Wow.

These guys are pretty close. Do you guys do homework? Did you do any homework before this game? You're like, David might ask me, Disney, I'm going to look up Disney's market cap. No, no. I wanted to do it. You're just that good? No, I... Because these are good guesses. I did try to look at the Stock Advisor scorecard and just not necessarily memorize all of them, but almost think of like, this is closer to the top. The way I remember it too is, I mean, because I know Netflix is like 500 plus billion dollars. And I know that Disney is essentially half of Netflix. And that's kind of where my logic is.

Phil. Very good. Well, players at home, again, I need you to say either Jason or Lauren, three, two, one, you agree with? All right, you said it. And if you said Jason Moser, give yourself a plus one because Disney's market cap is $213.45 billion, and that is inside Jason's impressively tight range of $210 to $230 billion.

and not far off the lower end of your parameter. Lauren, you said 220. Disney, again, 213. This is a company, guys, that I do think with Coca-Cola and Starbucks and Apple, whether you held them over the last 25 years or you hold them over the next 25 years, I think your money is well invested. Although Disney's undergone a lot of stress, some changes in CEO, people saying things like cable TV, ESPN, et cetera, there's an

Those are not as valuable in the new world we're living in. Also, I have to admit, as a longtime Marvel fan, that's how I got into this company. I did start getting a little tired of all of the Super Hero movies. I don't know about you. But let me turn back to Jason because, first of all, you nailed it and good job.

People may only remember this final one, Jason Moser. And so you're walking out a winner here. But what do you think of Disney these days? This is going to be something I keep as a good memory here. I had great memories taking my kids to Disney World when they were younger. There you go. And to me...

I don't personally own Shears, but it's the first stock my girls ever bought 12, 13 years ago. And they still own it today because they are fools like their father. Love it. Yeah, I think they're better days for Disney ahead. They were slow to –

adapt to the new streaming world. With that said, building what they built with the number of subscribers that they have, that's still extremely impressive. So, I think it's really just a matter of time until those financials start to reflect that.

And that parks side of the business is just irreplicable. I mean, it's just so darn impressive. I mean, here, David, I'm not going to lie. We took the kids to Paris, France a few years back for spring break. We were there for like 10 days. And they said, listen, we're here for so long. And they had two other friends with them. Can we just go to Disney World Paris one day? What a good dad. Felt a little sheepish doing it at first, but I swear to you, the experience was amazing.

So consistent, so impressive. I mean, and so you just see what they can do on a global scale. I would not bet against this company. I will say that I cut the cord maybe a decade ago, and ESPN has been what I've been missing this whole time. So I cannot wait for the direct-to-consumer offering coming out this fall. As soon as that – I was overjoyed by that announcement. I can't wait to spend it.

$30 a month, whatever it is, to add that to my Disney Plus. So sports are back. I'm very bullish on Disney in the long run. Well, thank you. And thank you to two fantastic contestants. Good sports both. A gracious winner and a gracious second placer. A loser! And before we close, let me mention a reminder that next week is our June 2025 mailbag. So your ideas...

Well, they power my mailbag episodes every month. So send your burning questions, witty observations, or rule-breaking stories to our email address, rbiatfool.com. Once your voice heard, great. Your message just might be our next mailbag highlight. Our inbox is always open, rbiatfool.com. I also want to mention a special episode we're doing in two weeks, and that's our annual What You've Done to Create Financial Freedom. You might notice I tend to time that right around independence.

Independence Day here in the United States each year. So yeah, it's going to be what you've done to create Financial Freedom Volume 3. So what have you done over the past year to help push yourself ahead or others ahead on the path to financial freedom? Drop me your story, your best tips for other Fool listeners. Again, rbi.fool.com. You can tweet us,

on TwitterX at rbipodcast. Okay, thank you both. The final accounting then is Lauren Hurst, 6, Jason Moser, 4. But Lauren and Jason and I know we're not playing this game for each other. We're playing for you. How did you score, dear fool? Dear listener at home, we hope you outscored all of us. The purpose of the Market Cap Game Show is to make more popular— now, I'm never going to say as popular as Jeopardy, but to make more popular—

Market caps, the real value of stocks on the market that most people don't understand. Except that you do understand because you just listened to us for an hour and I hope you scored at least a few points this week and maybe beat one or both of our competitors. Jason and Lauren, you both distinguished yourselves and helped make the world a bit smarter, happier, and better.

richer. A last line from you, Jason Moser. Well, as a rookie, I was very excited to get this invite. So first and foremost, thank you for having me. It was really a lot of fun. I know I did not earn my way into the final four, but I do hope there is a day where you can have me back. Love it. I think on the first day of the tournament, you know, at 1230 on that Thursday, the first matchup is always an 8-9 matchup. It's always a really close matchup. So if this is effectively the Elite Eight of the Market Cap March Madness Tournament,

then this was a great four or five matchup, which I hope that doesn't mean I have to go up against Emily. Yeah.

Once March comes around, but I will be ready for it. All right. Well said. We do have two more Market Cap Game shows this year, the one that closes out the September quarter and the one that closes out the December quarter, where we'll have new guests. But yep, Lauren, Emily, and two guests to be named later will be there with us all next March. In the meantime, for Jason Moser, for Lauren Hurst, I'm David Gardner. Full on.

As always, people on this program may have interest in the stocks they talk about, and The Motley Fool may have formal recommendations for or against. So don't buy or sell stocks based solely on what you hear. Learn more about Rule Breaker Investing at rbi.fool.com.