2026 March Market Cap Madness: Emily vs. Bill (BEMILY 2!)

11:38Bill Barker:That is helpful. That is helpful. We're going to need this in yen as well. I do like how Bill did set me up perfectly. You have to give Bill Adyen and then come back with Mitsubishi Electric, who, in case it's not obvious, I have.

11:53Emily Flippen:I mean, you're up one nothing.

11:54Bill Barker:We need to make it challenging. There we go. Make it challenging. I think most people out there would think that we would be more familiar with Mitsubishi than Adyen. Like Mitsubishi is a better known name. It is. And it's funny. I couldn't even, naming Japanese companies couldn't even name it. Here's my stated range. $60 to$120 billion.

12:13Emily Flippen:$60 billion to$120 billion. Bill, have you recently used any Mitsubishi Electric products or services?

12:20Bill Barker:Not that I'm aware of.

12:22Emily Flippen:That's part of the point, though, right? Yeah. Emily said, I believe she said, my short-term memory is increasingly bad. $60 to$120 billion. Bill, players at home, do you want to say inside or outside that range?

12:35Bill Barker:I'm going to say it's outside that range.

12:38Emily Flippen:But on which direction outside, Bill? He doesn't have to say that. That's not the game, Emily. Don't confuse my players.

12:44Bill Barker:Had you given the range in yen, I would feel compelled to answer to you on that one.

12:49Emily Flippen:True that. Players at home, Bill said outside that range. What do you say? Because you're playing along with us. All right, you said that. And if you said outside that range, do not give yourself a point because it was inside Emily's generous$60 to$120 billion range by my counting. Emily, you just scored your second point. Mitsubishi Electric's market cap is$69.89 billion, near the low end of Emily's range. Bill, frustrating, I know, to be down to nothing. But that's happened to you before. You are a very talented tennis player, specifically court tennis. We've talked about that before. Have you ever been down 2-0 in a tennis match?

13:29Bill Barker:I'm usually down 2-0 in a tennis match. It's a very, very familiar place to be.

13:35Emily Flippen:You know, Emily, it was only live during the show that I realized the ticker symbol is an anagram of your name. But when we look at Bill's name, that is a ticker symbol. Bill, this is not a market cap game show quiz, but do you know what company has your name as its ticker?

13:49Bill Barker:I do not.

13:50Emily Flippen:It's Bill Holdings. They're like Bill.com. You can pay your bills on them. You don't need to because you already have your Apple Pay on your phone. But the rest of us, some of us are using Bill. So we got Emily and Bill covered as we move to stock number three. Bill, when you board a commercial flight, do you ever pull out that little safety card in the seat back pocket just to see which aircraft you're on?

14:13Bill Barker:I should probably, but no, I don't. Emily, you? I do actually read them, but usually just because I lack other entertainment.

14:20Emily Flippen:Well, last week I asked this exact same question of our chief investment officer, Andy Cross. Andy, do you pull it out? Do you actually read it? And his answer was, and I quote, every time. No joke, every time. He told us he's been doing that for about 14 years now. His daughter is about 14 years old. So anyway, it's quite something to build an airplane to be an aircraft manufacturer. Last week, I quizzed Andy and Lauren about Boeing. Andy, by the way, said$250 to$350 billion was his range. And Lauren said he thought Boeing was smaller than that. And yet he decided to throw a curveball. Despite saying he thought it was lower, he agreed with Andy's range.

15:02Emily Flippen:And it was$177 billion, which was lower. But in the most curveball confusing moment of that game, Andy got the point. Anyway, curveballs and knuckleballs aside, that was last week. This week in a related but different direction, I want to say that as impressive as a 787 Dreamliner may be, when you reframe it a bit, you realize that a Dreamliner is really just thousands of parts assembled together. One company builds the engines, another builds the avionics, another the cockpit controls, pumps and valves. Somehow all of those parts get glued together and become a shiny new 787 Dreamliner. And that raises stock number three, which I'd like to aim at you, Bill.

15:50Emily Flippen:Transdime Group, ticker symbol TDG. Founded in 1993, Transdime designs and manufactures highly engineered components used in commercial and military aircraft. The company's become known for acquiring aerospace, really niche suppliers, and maintaining strong pricing on parts that aircraft manufacturers like Boeing and Airbus rely on. Bill, is this a stock you've ever looked at?

16:16Bill Barker:No. It's one I'm aware of. I thought about looking at it maybe about a decade ago. So that's about as close as I've come, and about as close as my guess will be.

16:27Emily Flippen:All right. Well, we'll talk about a decade ago or so. But Bill, more to the point now. What is your stated market cap range for TransDime Group, ticker symbol TDG?

16:36Bill Barker:I'm going to say$15 to$30 billion.

16:39Emily Flippen:$15 billion to$30 billion. Emily, is this a stock you've looked at?

16:44Bill Barker:It is, actually. This is a recommendation, I believe, of yours, David, from a while back in Stock Advisor. Yes, the benefit here of working on the Motley Fool's flagship stock advisor service is a wide swath of companies to look at. And actually, one that has been on our radar. I mean, obviously, it's been a strong performer recently. But Yasser, who worked on the stock advisor team for a while, was a big champion of Transdime, said that our team had constantly overlooked putting it in our monthly rankings. And I think he was, if you look at the stock performance of Transdime, he was definitely accurate in that assessment.

17:14Emily Flippen:Yasser gets a lot right. He's a pleasure to work with. He's also played the Market Cap Game Show once or twice. Emily, Bill said$15 billion to$30 billion. Do you want to say inside or outside that range?

17:27Bill Barker:Because I'm fairly confident, because of its strong performance, that it's larger. I'm going to say outside, although I will say it's a generous range. I could be wrong.

17:33Emily Flippen:Players at home, Emily disagreed with Bill's range. What do you do? All right. If you disagreed, give yourself a plus one. Emily takes a 3-0 lead. Trends time substantially bigger. I think this makes me happy because you're right, it is a past stock pick. And it's now up to a$71.83 billion market cap. This company, famous among investors who are a little bit geeky. This is a B2B company. This is not a company many people recognize, but it pays massive special dividends. So,$30 per share in 2012. $24 a share in 2013. $75 in 2016. The list goes on. The company built by Nick Howley. He was written up, I think, in Lessons from the Titans, which was written by Charles Ellis.

18:21Emily Flippen:I didn't read it myself, but a lot of people who follow unusual, brilliant CEOs appreciate that about Nick Howley.

18:29Bill Barker:I'm still stunned at being down 3-0 here, knowing how unlikely it is. Lots of luck. That second point feels like a dirty point to me. I've stopped listening to you, David.

18:41Emily Flippen:Well, I will say I'm happy that we did pick on July 20th, 2012, Transdime Group for Motley Fool Stock Advisor members. As Emily noted, the price for our members was$59.52. And now that it's around$1 ,270, it's been a sweet 21 bagger. I'm not sure that back of the napkin is factoring in those special dividends either. We're still holding. Emily, you are up 3-0. Let's turn it back to you, stock number four. Emily, you've now achieved something that I would say very few people on this planet can claim. You've appeared on Survivor and you've won the market cap game show world championship. Which one carries more weight around the house?

19:23Bill Barker:Well, here's what I will say. You're not in charge of whether or not you get cast on a reality TV show. Somebody else is entirely in charge of that. I would like to think that I'm in control of my own market cap destiny. So, you know, the accolades associated with that feel a lot more achievement oriented to me.

19:41Emily Flippen:You do seem extremely adept, though, at both of these pretty intense games, the market cap game show and Survivor. One involves alliances, deception and psychological warfare, and the other involves living on an island with strangers. Which is harder?

19:58Bill Barker:Here's the thing I will say, you know, the hardest part about Survivor not eating for a few weeks at a time. um he's starving is no fun but the psychological effects of going up against bill barker two times now in two consecutive years yeah i don't know it keeps me up at night i don't know

20:14Emily Flippen:if i ever get over that we should probably get to stock number four but i i have to keep going down this path a little bit further emily when you first appeared on survivor 45 i'm told you did not exactly win america's heart in the first episode and yet by the end people were cheering for you? Were you aware? Here's the key. Were you aware of that transformation while it was happening or did you only realize it once the season aired?

20:40Bill Barker:I was somewhat aware of my perception. I think what you saw on TV was a pretty fair and accurate representation of what was happening on the beach. And I will say I give so much credit to the people that I played with because very rarely in life do you get a second chance at a first impression. And everybody out there on that Island could have written me off, and rightfully so, the same way a lot of people who saw me initially kind of wrote me off. And the fact that I had the opportunity to stick around as long as I did and had the opportunity to give people the opportunity to know me better, and they got the chance to, you know, be like, okay, Emily is more than she initially appears.

21:11Bill Barker:I mean, all of that is a lot of pure luck. So I'm incredibly thankful. But I do think what you saw on TV, fair representation of what happened.

21:19Emily Flippen:And you kind of make friends with people, right? You've had a reunion or two since.

21:23Bill Barker:It's trauma bonding. And I will say all my season 45 castmates and I, I mean, we're on great terms and I'm so thankful for that.

21:29Emily Flippen:Last one for now. When CBS called and said, Emily, we'd like you back for season 50. What was the first thought that went through your mind? Excitement or terror or rocking your internal Sally Field? You like me right now. You like me. Yeah, it might sound strange.

21:46Bill Barker:The first thought was, oh, hell no, I'm not doing this again. And the casting director said, you don't have to make up your minds right now. Just fill out a couple of forms and wait a few months and see if you change your mind. And I waited a few months and, you know, I just kept not saying no. And then eventually I was just too deep into the rabbit hole. And at some point I was like, oh, gosh, I guess this is happening again. I guess some part of me does want to try again.

22:08Emily Flippen:And it did. And we're cheering you on. Well, now back to investing. I'm curious, Emily, given how busy you must be with all that's going on, Did you happen to listen to last week's Market Cap Game Show?

22:21Bill Barker:I did not. In fact, I actually encouraged myself not only to not listen to it, I didn't even reach out to Lauren or Andy to see which stocks they were asked about. So, you know, I'm coming in completely fresh.

22:32Emily Flippen:I mean, you're really busy. You would have a slight advantage right now, though, since one of the companies we're about to talk about was featured just one week ago. Oh, no. If you didn't listen, it's perfectly fine. But our listeners did. And now we're going to see how good everyone is at running this one back up the flagpole. Stock number four is Wix.com Limited, ticker symbol WIX, which was featured just one week ago. Founded in 2006 and headquartered in Tel Aviv, Wix provides a drag-and-drop platform that allows individuals and small businesses to build websites and manage online commerce without needing to write code.

23:23This company haunts me because I've never been a big fan.

23:27Bill Barker:It's been up, it's been down, and I just can't help but think to myself with vibe coding and AI, why do you need Wix? I didn't feel like I needed it before. E-commerce platforms are such a commodity business, but it's always bigger than I think it is. That's what I always remember myself. I mean, Stitch Fix, Wix, they're always larger than I think they should be. So I'm going to go a little bit higher than I maybe would have preferred. Give a slightly larger range, maybe. Still narrow. I still want to get this point, to be clear.

23:53Emily Flippen:By the way, I love how you think it out. This is exactly what people want from game show contestants. I mean, this is why people said, let's have her on Survivor, because she articulates what she's thinking, which makes it much more fun TV.

24:05Bill Barker:Well, we'll see if it gets me the point. Hopefully it's fun for the listeners. I still, again, want that point. I'm here to win after all. So let's give it a range of$3.4 to$4.6 billion.

24:19Emily Flippen:$3.4 to$4.6 billion. A smaller company, Bill. I think it's fair to guess that. And certainly one of the tighter ranges we've seen, I would say the tightest range we've seen by far this show. This is stock number four. Emily said$3.4 billion to$4.6 billion players at home. Bill Barker, what are you thinking right now? Inside? Outside?

24:38Bill Barker:I mean, she knows the company. She's to go to decimal points. Right. You know, she knows this. She's looked at it recently, probably within the last 24 hours, maybe within the last three hours.

24:52Emily Flippen:She didn't even listen to last week's show.

24:55Bill Barker:I didn't think we were allowed to listen to last week's show. If I had, I would have written them off. I would have assumed no repeats. If I had known that or that we were even allowed to think about what market caps are before the show, I might not be in this hole. There you are. Yeah, that was said with great confidence. And I am going to nevertheless disagree with it.

25:18Emily Flippen:All right. Bill has disagreed. It is a tight range. Pretty gutsy, though. I mean, Emily said she's haunted by the company. That was the first word out of her mouth. And then she gave her thinking and then a tight range, 3.4 to 4.6. Players at home, Bill disagreed. What do you do? Thank you. If you, with Bill, disagreed, give yourself a plus one because I've got to say, Emily did a good job with this one. $4.99 billion just outside the 3.4 to 4.6. Part of me, when one of my players gets down 3-0, I start cheering that person on. And so, Bill, I was wanting that for you. I thought you were going to say inside the range because you were speaking very positively about Emily's reflections.

26:01Bill Barker:Yeah. And I just panicked at the end. And it worked.

26:06Emily Flippen:The message to kids, to the kids is panic, kids. It'll work.

26:09Bill Barker:I guess what I want to know is why did you get that wrong? Because you went tight. Obviously, it weren't like, I don't know, it's somewhere between 10 and 30. I would have been floundering. You saw right through my double bluff. I knew it was somewhere generally in like the low billions, but I wasn't quite sure. And so I thought, I'll give a tight range, make it seem like I really know, and he'll definitely agree with me. And I'll just hope that's outside the range. And then you pivoted the last second. It was such a tight range. But when did you last look at the market cap of it? Oh, gosh. I don't know if I've ever consciously.

26:42Bill Barker:Three o 'clock, two o 'clock. I don't know if I ever consciously looked at it. I just, I know it's in Stock Advisor. It's one of those.

26:47Emily Flippen:Here's the funny thing. we did Wix.com Limited a week ago today. Today, the market cap was$4.99 billion, as we just heard. Last week, it was$4.13 billion. This stock's up almost 20 % since we featured it on last week's market cap game show. So you see some of the power, I think, of Rule Breaker Investing. Who knows where the market cap will be just one week hence?

27:11Bill Barker:That's going to be my excuse for all the points that I miss. Stuff changes so quickly. Look, Transdine was in the range that I had last time I looked at it three or four years ago.

27:22Emily Flippen:Let's move on to stock number five. Bill, let me throw a phrase at you. You ready?

27:28Bill Barker:I may be. Yes.

27:30Emily Flippen:The MSCI Emerging Markets Index. Does that ring a bell?

27:35Bill Barker:Sure.

27:36Emily Flippen:Why? For most people, they'd probably say no.

27:39Bill Barker:I mean, MSCI is one of the premier indexers and primarily of foreign and, yeah, MSCI world and MSCI emerging, sure.

27:49Emily Flippen:It's one of those phrases investors do hear constantly in ETF names, fund prospectuses, performance charts. And yet I do suspect most people referencing it couldn't actually tell you what MSCI stands for or who's behind it.

28:05Bill Barker:I want to say Morgan Stanley.

28:07Emily Flippen:You got that right. But if you think about it, I mean, trillions of dollars of global investment capital benchmarking themselves against MSCI indices created by a company that most investors have never really stopped to think about. And I include myself in that group. This is one of those companies where it's just an acronym name and they have the same ticker symbol as the name, which I would say you always have to do. So MSCI is stock No. 5. Ticker symbol is MSCI. And yes, their Emerging Markets Index, which launched in 1988, is one of the most widely tracked equity benchmarks on the planet. Maybe taking you back to a little bit of your asset management days, Bill.

28:49Emily Flippen:Bill Barker, what is your stated market cap range for MSCI? Ticker symbol, yeah.

28:55Bill Barker:The stated range for MSCI is$13 to$18 billion.

29:00Emily Flippen:$13 billion to$18 billion. Emily, do you know what the CI stands for?

29:06Bill Barker:I don't even know what the MS stands for. Is it Morgan Stanley?

29:09Emily Flippen:Is that what's the take from that? Yeah, he got that. He got that. So yeah.

29:12Bill Barker:Okay, so I have absolutely no idea.

29:15Emily Flippen:It's going to be Capital International, I'm pretty sure. So now you know. You can't say you spent a whole hour on the Market Cap Game Show and didn't learn anything that week.

29:23Bill Barker:That is true. That is true. I will say this feels like a Bill Barker business. This feels like one that he should know.

29:30Emily Flippen:He said$13 to$18 billion.

29:33Bill Barker:Yes. And I'm just in my mind having quite literally never looked at this business before, although I am familiar with MSCI. I'm trying to compare it to the other businesses. You know, that's the way to play this game, right? I'm thinking about CBOE and these other semi-comparables. And they're all, I think, generally around that size. But surely MSCI is something else going for it to justify a range that large. So I don't know. part of me just, I think I'm overthinking this. I mean, part of me just thinks to myself, Bill knows this company. He knew the MS was Morgan Stanley. This feels like a company he should know, but at the same time, he gave no preludes into that.

30:11Bill Barker:He's giving a range here that I think is fairly large. If MSCI only has the MSCI going for it, and I'm thinking about comparing to CBOE, which has so much other things going for it, part of me just thinks that maybe it's smaller, but oh, I'm overthinking. I'm just going to agree. That's a safer thing to do. I buried myself deeper into this hole enough. I agree with Bill.

30:30Emily Flippen:Thank you, Emily. Emily agrees with Bill, but we're playing this game for you. What do you think? Bill said$13 to$18 billion inside his range or outside his range. The market cap for MSCI is$40.89 billion. I had no idea. A lot bigger than Bill or clearly Emily thought. I thought I was going smaller.

30:49Bill Barker:It could have been

30:52Emily Flippen:The correct answer is outside that range. It's about twice as big as Bill was thinking. And I admit, I haven't really followed this.

31:00Bill Barker:I was thinking I need to look like I kind of know this thing.

31:04Emily Flippen:So the company began as Morgan Stanley's index and analytics division. It got spun out as a separate public company in the year 2007. And yeah, today its indices underpin thousands of ETFs. ETFs just changes to one of its indices. For example, in 2018, Chinese A shares were added. That just moves billions of dollars as funds have to track the benchmark and rebalance their portfolios. So MSCI, not a consumer brand. And admittedly, I'm not sure I knew the acronym before I randomized this as our stock number five. But I think as investors, we should all know this. And now we all know a little bit more.

31:42Emily Flippen:And yeah, these guys are bigger than we were thinking. You know, Morgan Stanley is big enough and successful enough. They could just spin stuff out, and a decade or so later, it's$40 billion.

31:51Bill Barker:I think it is what we benchmarked one of the funds against a long, long time ago. There we go. The International Fund, yeah.

31:58Emily Flippen:You and a lot of other asset managers. All right, it is halftime, friends. I count it as Emily 3, Bill 2. Our halftime entertainment, this is our new tradition for the Market Cap Game Show. You each tell a joke. I'm going to turn to Emily first because, Emily, you're winning three to two. What's your joke?

32:17Bill Barker:Well, first of all, I'm very happy I'm going first because let me put it this way. I've struggled to be intentionally funny. I like to think I'm a funny person, but only ever unintentionally. Usually when I'm trying to be intentionally funny, it's just very cringy. So I will say I took some of your advice prior to the show, and I went to my preferred large language model, ChachiBT, and I asked ChatGPT, hey, based off what you know about me, based off years of these personal conversations that we've had, here's my situation, help me plan a joke. And ChatGPT said, okay, yes, here we go. Here's the perfect joke based off everything I know about you and I'm ready to read it to you.

32:54Emily Flippen:Please.

32:55Bill Barker:Okay, so I told my husband that I was gonna try to learn to relax more. He said, oh, that's great, how's it going? And I said, pretty good so far. I've made a list of ways to unwind, ranked by feasibility and I should be calm by the third quarter. And ChatGPT says, this joke feels especially you because of the dry over planning. And the joke is, of course, that ChatGPT knows me so well to know that I am the anxious dry over planner who is not funny enough to pull off that joke.

33:23Emily Flippen:And yet I thought that was pretty funny. Thank you. Thank you. You know, Bill told a joke last time. Bill, you have a new joke this time?

33:28Bill Barker:I have too many jokes. Oh my gosh.

33:30Emily Flippen:Bill told a joke last time that I genuinely thought was funny. and I've shared that with a number of people, like that joke, I've told that. I can't tell Emily's because it really is so Emily, but I'm so glad you brought a so Emily halftime joke. Bill Barker, what do you got for us?

33:44Bill Barker:I also made, you know, by - Use of your AI friends. Come up with some jokes and it's got really short ones, so I think we can go through them. And I want to get your letter grades for each joke. How many jokes? Five. Okay. Just take a second.

33:58Emily Flippen:Okay, it's halftime, let's go.

33:59Bill Barker:Okay. Okay. An SQL query walks into a bar, walks up to two tables and asks, can I join you?

34:08Emily Flippen:And what's the punchline? I think we have to know what SQL is.

34:12Bill Barker:If you knew what an SQL query is, you would understand why that. It's programming stuff. You have to know your audience, Bill. You didn't give your grade. I'm not saying, I'm saying there is a range here.

34:27Emily Flippen:I'm going to say C minus. D plus, D plus.

34:30Bill Barker:Yeah, I agree. All right. The past, present, and the future walked into a bar. It was tense.

34:38Emily Flippen:All right. I'm going to give that a B plus. Yeah, B plus. It took me a second. A for effort, by the way. A for effort.

34:43Bill Barker:I think that's a much better one. Okay. Patient. Doc, I've got a problem. Every time I drink a cup of coffee, I get this stabbing pain in my eye. Doctor, have you tried taking the spoon out? I've heard it before. That's my problem. C plus. C plus. I agree. I mean, I think it'd be cooler if it were a knife or something.

35:00Emily Flippen:I'd bump it up a lot.

35:01Bill Barker:I think this one you'll remember.

35:02Emily Flippen:We're about to go to commercial break, Bill. We need this to be really good.

35:05Bill Barker:An optimist sees a glass that is half full. A pessimist sees a glass that is half empty. An engineer sees a glass that is twice as big as it needs to be.

35:13Emily Flippen:That is good. I like that. It doesn't make me laugh, but it's witty. Oh, okay.

35:18Bill Barker:Yeah. B plus, Emily?

35:20Emily Flippen:B plus. B plus.

35:21Bill Barker:Okay. Last one. It's also quick. Told my doctor that I broke my arm in two places. He told me to stop going to those places. Okay, I like that. See, you laugh. I got a chuckle. I got a chuckle. A.

35:35Emily Flippen:And A for effort as well, Bill. Thank you. It's quick.

35:38Bill Barker:You zip in, you zip out.

35:39Emily Flippen:This was the halftime follies that the world needed. Just a little bit more humor in our world today. Thank you, Emily, and thank you, Bill. The old adage goes, it isn't what you say, it's how you say it. Because to truly make an impact, you set the example, take the lead, and adapt to whatever comes your way. And when you're that driven, you drive an equally determined vehicle, the Range Rover Sport. Blending power, poise, and performance, the Range Rover Sport delivers a dynamic sporting personality with elegance and agility for a truly instinctive drive. Its distinctly British design and assertive stance hint at refined performance the moment you see it.

36:25Emily Flippen:Inside, modern luxury meets thoughtful innovation. The cabin air purification system works alongside active noise cancellation to create new levels of comfort and control. And with Terrain Response 2 and 7 Terrain Modes, the vehicle fine-tunes itself for the road ahead. Created with a choice of powerful engines, including a plug-in hybrid with an estimated range of 53 miles, the Range Rover Sport lets raw capability and precision shine, free from unnecessary detail. Build your Range Rover Sport at rangerover.com slash US slash sport. That's rangerover.com slash US slash sport. All right, Emily, three, build two.

37:18Emily Flippen:You at home, question mark. We all hope you have five. Let's go to stock number six. Emily, do you remember what happened last year? Before you won it all against Andy Cross, there was Bemily won. Artie referenced it earlier. Do you remember what happened? Gosh, are we talking about the Salesforce scenario? Actually, I don't remember that part. I was thinking about the dramatic ending, but do you want to share briefly what the Salesforce scenario was?

37:48Bill Barker:I do remember. I believe it was Salesforce. If it wasn't Salesforce, it was a Salesforce S company, for which Bill and I were both off by a factor of something like$100 billion. billion. Okay, yes. At our guesses.

38:00Emily Flippen:It was not Salesforce, but we will talk about that in a little bit. It scarred me, clearly. I'm giving you a B - for memory, which is better than my memory, because, yeah, you kind of got it. It was ServiceNow, for the record. But let's keep moving, because the game was five to four, and stock number 10 was Meta Platforms, Facebook, and it was a throwdown. And so both you and Bill each came up with your best, tightest range for Meta. And you wrote down 1.5 to 1.8 billion. And Bill wrote down 1.53 to 1.8 billion. And with Meta having a market cap, no joke here, of 1.53051 trillion, first of all, you both were so, so close.

38:50Emily Flippen:Second, you both were actually correct. It was inside your ranges. And And yet at the last second, Bill had chosen to tighten his lower range from 1.5, where yours was, to 1.53 trillion. And as a consequence, he won the point. And amazingly, that put us into overtime and 11th stock with the semifinals on the line. But we're going to talk about that in a bit. Now that I've refreshed your memory, does it all come back?

39:16Bill Barker:It is. It is. And I can't believe that I'd forget such a nail biter.

39:19Emily Flippen:It was a truly fantastic game. And we're going to see how this one plays out and ends. Bemily, too. But that throwdown was then, Emily, and this is now. Because this is a throwdown. Stock number six is Paycom Software, ticker symbol P-A-Y-C, founded in 1998, headquartered in Oklahoma City. Paycom provides cloud-based human resources and payroll software that allows businesses to manage their hiring, their payroll benefits, etc. It was really one of the first companies that allowed employees themselves, not just HR professionals, to enter and manage their own payroll. Now, this is throwdown time.

40:02Emily Flippen:So Emily and Bill have their pencils out and will now write down their best market cap range for Paycom software. And once they share their ranges, you, our players at home, your job is just to pick the contestant that you think made the better guess. So you're simply going to say Emily or Bill. And if you're right, score a point. As they continue thinking and they're writing down their market caps a bit more on how this works. If only one of them gets the market cap range right, of course, if you say that person's name, you get a point. But if both are right, the contestant with the tighter range, as happened a year ago this week, will take the point.

40:38Emily Flippen:But what if both are wrong? Well, that obviously doesn't happen. These fools are professionals. They're paid to do this. But supposing this ever should happen, maybe it happened last year at this exact same time. If they both miss, we measure proximity. Whosoever nearest parameter is closest to the true market cap, I'm using my language very carefully, Bill Barker, wins the point. It's the Barker protocol. We're going to mention that in a bit. So we do this twice every show. Let's do it now. Stock number six is Paycom Software. And I'll now turn to Emily first. Emily, what's your range?

41:15Bill Barker:This is one I should know better than I do because we have this thing at The Fool called Facts Coverage. It's foolish analysts covering top stocks. Okay, good. And Paycom is under my facts coverage. I'm very familiar with this company, and I am very unconfident in my range. I generally have an idea, but the specifics are lost on me.

41:36Emily Flippen:Well, since this is a throwdown, you don't have to worry about head faking bill. Exactly. This is just your own best shot.

41:41Bill Barker:Which is why I'm being very honest. Love it. For all the listeners out there, so you can make your best educated guess so you can get this point, my range is$5.3 to$9.2 billion.

41:51Emily Flippen:$5.3 to$9.2 billion. I'm looking over at your blue post-it note, Bill Barker. What do you have scratched out on it?

41:58Bill Barker:I have$7.5 to$10.2.

42:01Emily Flippen:$7.5 to$10.2 billion. So players at home again, Emily,$5.3 to$9.2. Bill,$7.5 to$10.2. Close. Interesting. For our listeners at home, you're now going to say 3-2-1, either Emily or Bill. 3-2-1. All right, you said it. Paycom Software's market cap is$7.15 billion. That is outside Bill's range of$7.5 to$10.2 and inside Emily's range of$5.3 to$9.2. You could almost argue Bill was closer in some senses. But players at home, you needed to say Emily to get a point, which she did indeed. Emily for Bill too. You both were just shooting right all over that one.

42:47Bill Barker:I think, you know, it has gotten hit so badly recently. And I don't know, within the last couple of days, probably anything could have happened. I haven't checked it out lately.

42:58Emily Flippen:Software companies, right? My brother Tom Gardner first picked this stock in 2017. It's more than doubled since then, though it's also true that numerous Motley Fool services have repicked the stock in recent years at prices like, I don't know,$260, and today it's closer to$130 or so. So, not a great performer overall. It does have that employee self-service model where you're actually managing your own HR and benefits payroll stuff, as opposed to going through the intermediaries of your friendly HR professional at your company, Paycom Software. Well, it's Emily for Bill to after our first throwdown.

43:35Emily Flippen:Let's move on to stock number seven. Sabille, last year, since we're talking about a week ago, last year, Bemily won. We went into overtime. You had just tied, Emily, with the epic meta platforms pick that we just talked about. We went into overtime with stock number 11. It went to 11 that week. Emily thought it was Salesforce, but it was indeed ServiceNow, which is kind of the same industry and sibilant. It's got kind of a similar sound, but it was ServiceNow. And overtime is always a throwdown. And so with stock number 11, both you and Emily picked ranges dramatically lower than ServiceNow. I'm going to say its actual market cap was like$168 billion.

44:18Emily Flippen:And you both had ranges$100 billion below that. And yet, because the top of Emily's range was closer to$168 billion than the top of yours, Bill, she won the semifinals, went on to beat Andy Cross the following week for the world championship, and so she is our decorated March market cap madness reigning world champion. And yet, in the moment we revealed ServiceNow's market cap, you questioned the ruling. Emily's higher end parameter was, in fact, closer to ServiceNow's real market cap, but...

44:56Bill Barker:But my midpoint was closer.

44:58Emily Flippen:That's right. You said the mean, the median, the midpoint of my range was actually closer to that than Emily's mean. And so you challenged it, and that brought about a critical ruling. Where we reasserted live in that game, and it played this way ever since, and really we did play it that way before, that whosoever nearest parameter lands closest to the actual market cap takes the point. We've gone on to call that the Barker Protocol. You have now been immortalized based on that moment from Bemily 1.

45:33Bill Barker:Well, I mean, it's that kind of thing that I'll probably be remembered for at the end. Don't know what else is going to hit the first paragraph of my obit, but I'm hoping it's probably that.

45:44Emily Flippen:And I'll just add on a side note. but you were an excellent sport about it. You showed your honor, my friend, which is more important than briefly winning or losing.

45:52Bill Barker:I mean, I went home and cried about it.

45:55Emily Flippen:Stock number seven. Well, let me ask you quickly, Bill. When you vacation with the Barkers these days, you're in another city, foreign country, let's say for an extended stay. Do you always choose a hotel or do you sometimes wind up staying in someone else's apartment complete with their spice rack, their board games, a three-page set of instructions about the thermostat, and very strong opinions about recycling.

46:25Bill Barker:I have done that. I'm much more frequently in a hotel, but, you know, I've done Airbnb, if that's where we're going.

46:34Emily Flippen:And that is where we're going. Stock number seven is Airbnb, and we talked about the Barker Protocol. We've gone deep on what happened a year ago this week, and we should have, and stock number seven. is also a throwdown. Pencils out. Fools, you know the drill. Bill and Emily will now each write down their best market cap range for Airbnb, ticker symbol ABNB. Of course, once they reveal their ranges, players at home, you just say Bill or Emily. You already know if their ranges are correct. It's the tighter range that wins. They both miss. We invoke the Barker Protocol, whose ever nearest parameter lands closest to the actual market cap takes the point.

47:16Emily Flippen:All right, their pencils are down. Bill, I'm going to turn back to you first. Your range, your thoughts, Airbnb.

47:23Bill Barker:The thoughts center around my lack of knowledge about the market cap on this one. I'm more familiar with the business and my experiences. Shouldn't those things be connected, Bill Barker, though?

47:34Emily Flippen:They should be. For a moment

47:35Bill Barker:like this, you really wish they were more connected. But I have written down with less confidence about this than almost anything else we've gone into. 40 to 70 billion.

47:50Emily Flippen:40 billion to 70 billion. Before I ask you, your range written down on your blue post-it note, Emily, are you an Airbnb person, either a guest or a host?

48:00Bill Barker:I am not a host, but I am a frequent guest of Airbnbs. And while I understand the complaints that come with the experience of picky Airbnb hosts, I will say I think the benefits oftentimes times for me outweigh those costs.

48:14Emily Flippen:Clearly. And I think there is a little bit of a generation gap here, possibly. Bill and I somewhere close to the age of 60, in my case, precariously close, just weeks away. Bill?

48:26Bill Barker:Well past it. Well past it? All right, you're a little,

48:29Emily Flippen:Emily, roughly closer to? Half that? Half that, yeah. And I would say, take it all in all, I think Airbnb is probably used by people who are more like Emily's age more frequently than people who are like bills and my age.

48:43Bill Barker:That's fair. And honestly, as I've gotten older, I will say the predictability of a hotel is nice. And on the Stock Advisor team, we have Airbnb on the scorecard. We also have Marriott on the scorecard. And I will say this leads to pretty hefty debates on the Stock Advisor team, because if I'm not mistaken, Marriott over the last five years has outperformed Airbnb. And when I think about the market cap of Airbnb, the thing that I remember most is Toby Bordelon, constantly telling us that Airbnb is smaller and underperforming when compared to Marriott. So I thought I gave a pretty wide range. It's not quite as wide as Bill's.

49:20Bill Barker:But now I'm worried based off Bill's range that I've gone too large here.

49:23Emily Flippen:What is your range?

49:25Bill Barker:My range is$59 to$79 billion.

49:28Emily Flippen:$59 to$79 billion. All right, players at home, Bill was$40 to$70. Emily was$59 to$79. Are you going to say Bill or are you going to say Emily? Say it. And if you said, Emily, give yourself a plus one, because you were both a little bit underneath, pretty close though,$81.31 billion. Since Emily's nearest parameter was closest to the actual market cap, she had a high of 79. Emily, you get a plus one, creating a strong position after seven stocks. Emily, five, bill two. Emily, how confident were you as you wrote down that market cap? Toby Bordelon, by the way, longtime Fool analyst and friend of us all, great community member who turned into a full-time employee at The Fool.

50:16Emily Flippen:He's a pretty bright guy.

50:17Bill Barker:Yeah, and I honestly, I thought it was, to be honest, I thought it was in the 60s. So I felt fairly confident in the 60s. I'm pretty surprised it's already up in the 80s. And now I'm wondering if it actually is larger than Marriott. And I hope I haven't just misled our listeners.

50:31Emily Flippen:Well, through the miracle of the internet, I'm the only one with access to it since you both are essentially in soundproof of phoneless chambers in order to play this game. I can tell you, I need to look it up myself. Marriott is$86.63 billion,$5 billion more than Airbnb. But it's almost like, let's not pick nits here. $5 billion here,$5 billion there. These companies are almost the exact same size. Interesting to think about. Before we move on to stock number eight, just a couple of fun facts about Airbnb. First of all, the company started in 2007 when founders Brian Chesky and Joe Gebbia rented out their air mattresses in their San Francisco apartment.

51:08Emily Flippen:This is one of those iconic garage stories that wasn't actually a garage, but there was like a design conference and hotels were sold out and they called it Air Bed and Breakfast. That eventually became Airbnb. But one other fun fact celebrated New York Times bestselling author Daniel Pink once revealed right here on Rule Breaker Investing that he got a note back in the day from a fan of one of his books. Maybe it was Dan's book, A Whole New Mind, back in 2005, or maybe Drive. Anyway, the young man said, Hi, Dan, big fan. I wanted to run an idea by you to see what you think. The idea is a new business around people letting out their houses or apartments as a compelling alternative to paying for expensive hotels.

51:53Emily Flippen:Dan said, You mean you think people will open up their own homes to strangers at scale as a business? Dan told him, probably not, thinking no. And his big fan was, of course, Brian Chesky. The rest is history. Dan ended up not being a founding venture capitalist in Airbnb. Ah, the ones that got away. All right. On to stock number eight, turning back to Emily. Emily, when people talk about semiconductor manufacturing, what country comes to mind first?

52:29Bill Barker:Probably Taiwan for Taiwan Semi, the largest semiconductor manufacturer in the world, if I'm not mistaken.

52:35Emily Flippen:Yeah. And are these conversations you have, you know, happy hour talking Taiwan Semi? Not if I can avoid it. Well, when the conversation does turn, let's say, over a cocktail to chip manufacturing, we tend to think about, yeah, the big global hubs. Taiwan, maybe South Korea, where massive fabrication plants produce chips for much of our world's electronics. But there's also a smaller group of companies trying to build specialized semiconductor manufacturing capacity right here in the good old U.S. of A. Emily, your head is kind of in your hands at this point. Why?

53:15Bill Barker:I'm familiar with Taiwan. Simi, ASML, LAM Research, maybe.

53:22Emily Flippen:Yeah, the bigger dogs.

53:23Bill Barker:The bigger dogs. I don't think I could name you a single small semiconductor company, which is embarrassing in the world of AI. I mean, everybody and their grandmother is trying to get in the space.

53:33Emily Flippen:Well, it's true. We only have so much time to learn so much about the world. This may have skipped your focus. It has mine, too, Emily. Not only are you going to need to name the company, you don't have to do that, but you're going to need to know the market cap for stock number eight, Skywater Technology, ticker symbol SKYT. Company's based in Minnesota. Skywater operates a U.S. semiconductor foundry that manufactures custom chips for aerospace, defense, and other specialized applications. Fun fact here. Sure, I'll give a little bit of spoiler, a little bit of help to my players, players at home too.

54:08Emily Flippen:Skywater runs the former Cypress Semiconductor Fabrication Facility in Bloomington, Minnesota, one of the few remaining operational semiconductor fabs in our American Midwest. Okay, enough prelude. Let's cut right to the chase. Emily Flippen, what is your stated market cap range for Skywater Technology, ticker symbol SKYT?

54:32Bill Barker:I'm not going to give Bill any more hints than I already have with my face, and I'm going to go ahead and give you a range of$15 to$40 billion.

54:41Emily Flippen:$15 billion to$40 billion? Bill Barker, have you ever been to Bloomington, Minnesota?

54:47Bill Barker:Is the Mall of America in Bloomington?

54:49Emily Flippen:That's a good question. I have to admit, I'm a little ignorant on that. I do remember that Bloomington, Minnesota is where the Minnesota Twins formally played their baseball games before present-day Target Field, before the Hubert H. Humphrey Metrodome. They played in Metropolitan Colton Stadium in Bloomington, Minnesota. As a little kid cheering on my twins from Washington, D.C., Bloomington had this magical allure, that name. But I have to admit, I've been to the Mall of America once. It's in Minnesota.

55:19Bill Barker:It's not too far outside Minneapolis, but I think - Have you been to the Mall of America, Bill? I have, with your brother.

55:26Emily Flippen:Nice. Yeah. Yeah. Did you Apple pay for something with your phone or was that earlier?

55:31Bill Barker:No, this was way before that, yeah.

55:34Emily Flippen:Well, Emily said$15 billion to$40 billion. Bill, no pressure. You're down five to two and there are three stocks left. Do you want to agree or disagree with Emily's range of$15 to$40 billion?

55:47Bill Barker:I feel like the most intelligent thing I could do is to put myself out of my own misery here. You're going to fall on your sword right in the middle of the Market Cap Game Show? I'm saying that would be the smartest and best thing to do. Not something that I can purposefully execute because I really have no idea. So it's a coin flip one way or the other. But Emily is good enough at this that I'm going to agree with her as having a superior guessing power. Because I think she's guessing, despite the fact that I've never heard of this company.

56:23Emily Flippen:Pretty wide range, too.

56:24Bill Barker:But the Cyprus was a thing and the aerospace is a thing. and that leads me to believe that it may have gotten up to$15 billion and only because of that.

56:36Emily Flippen:All right, players at home, Bill said agree. What do you do? You're playing along with us. Emily has five. Bill has two. What do you have? If you said you disagree, give yourself a plus one, which means Emily advances to next week's world finals because the right move here was to disagree. Skywater technology, guys. not exactly a household brand, kind of an upstart company,$1.4 billion, tiny.

57:04Bill Barker:It has a whole facility, and it's only a billion-dollar business.

57:08Emily Flippen:I admit, I've not looked at this stock myself. I'm happy to say the Motley Fool's Quantum Leap service picked this stock Thanksgiving, just less than four months ago. It was at$14.78 today. It's doubled. So the company, with its$1.4 billion market cap, was a micro cap when Quantum Leap pointed at it, and it's doubled in the last four months. I don't know what it's going to do going forward. I haven't looked carefully at this company. I don't know whether there are other Bloomingtons in its future, but this is a very small company. I hadn't heard of it either. Maybe that's a little clue unto itself.

57:43Emily Flippen:Bill, I'm sorry to say that we won't go to overtime for Bemley 2. No, not even close. But you still have an opportunity to make this memorable, to honor the pedigree of the series.

57:54Bill Barker:It doesn't feel like I'm going to achieve that today, but you're right. I do have the opportunity.

58:00Emily Flippen:Let's move on. We are playing for each other, but we're mainly playing for you, our dear listeners. So keep scoring along with us as we hit stock number nine. Turning back to Bill. Bill, have you ever watched a stock just sit there year after year just doing almost nothing?

58:19Bill Barker:Yeah, I suppose I have. Yes, I've done that.

58:23Emily Flippen:Any come to mind?

58:24Bill Barker:They slip my memory right now.

58:26Emily Flippen:Yeah, because they're so boring when they don't do anything for a decade. Yeah, you know, some stocks just will stay within a trading range and then just stay there for a decade plus. And then suddenly, almost out of nowhere, they might wake up and triple. Stock number nine is one such stock, AECOM, ticker symbol ACM. I see both Bill's and Emily's eyes widening in ways that suggest they don't know much about this company, but that's part of what makes the Market Cap Game Show fun. Am I right? AECOM is a global infrastructure engineering and consulting firm. It helps design and manage projects ranging from highways and bridges to airports, water systems.

59:11Emily Flippen:It's the kind of company where you're driving over their bridges, you're walking through their airport terminals, passing that massive construction site on the other side of your home city. You have no idea they're the engineering firm that designed the thing. And a fun fact here, I needed to look this one up so it made it fun for me. The company's name, it's spelled A-E-C-O-M. and I was looking at it going, I don't know the company. How do you pronounce that? It's incredibly difficult to puzzle out on your own. Is it AECOM? Is it, I mean, I remember Aegean, right? Greek, A-E. Is it EECOM? Or, no, no, as it turns out, it's just AECOM.

59:49Emily Flippen:So, Bill Barker, what is your stated market cap range for AECOM, ticker symbol A-C-M?

59:57Bill Barker:I mean, I got to say that if that was what you came up with to make this fun,

1:00:07Bill Barker:probably achieved more fun than i'm gonna provide on it but uh i'm just gonna go as bland as possible

1:00:14Emily Flippen:on this guess and uh emily is not looking like she knows this company either by the way so

1:00:19Bill Barker:there's very little pressure either way at this point so i'm not even sure what pride is at stake just the blind trying to either lead or trick the blind on this one. Doesn't seem right. Five to 10 billion.

1:00:34Emily Flippen:Five billion to 10 billion. Emily, did you know, have you seen this company's name before and did you instantly know how to pronounce it?

1:00:41Bill Barker:I've seen the company's name never in my life if I tried to pronounce it or really even thought about trying to pronounce it. It's one of those I looked at and looked past.

1:00:49Emily Flippen:A-E-C-O-M. A-E-C-O-M. I mean, I personally would rebrand if I were them. I think you want people to be able to say your name easily without scratching their head. But anyway, Bill said, in his own words, a rather bland selection,$5 billion to$10 billion. Emily, you've already won this game, but you have an opportunity possibly to achieve a blowout. This could be a very memorable game. Rarely have we seen like an 8-2 game. Not throwing any shade at Bill Barker here.

1:01:18Bill Barker:Doesn't feel that way at the moment.

1:01:21Emily Flippen:Emily doesn't look like she has.

1:01:22Bill Barker:Why not kick him when he's down for the entertainment of people somewhere?

1:01:29Emily Flippen:I don't see a killer instinct glint in Emily's eye for this particular stock. We'll see, though. Emily, players at home, do you want to agree with bills 5 to 10 or disagree?

1:01:37Bill Barker:The closest comparable I have is a company called Stantec. The ticker is STN. It was a recent Stock Advisor recommendation, actually, and it's a Canadian engineering consulting company. I know the market cap of that because it was so recent, and I think it's somewhere around$10 billion. But I also know that this company, Stantec, unusual in the consulting engineering space, does not own the projects. It's just doing design-based consulting work. And most of their competitors own the projects. It's lower margin work, higher risk, but results in typically higher revenues, higher earnings in totality.

1:02:10Bill Barker:So I'm thinking to myself, if they're a competitor, if they're a competitor, I'm not even positive they are, they'd probably be larger than$10 billion. So I'm going to disagree.

1:02:18Emily Flippen:Emily has disagreed. What do you do at home? All right, you did that. And if you did disagree, give yourself a plus one because Bill's guess was pretty good, but it was just outside the range. AECOM's market cap,$11.97 billion, basically$12 billion, just a little bit above Bill's top end of his range, and therefore disagreeing was the right move.

1:02:43Bill Barker:I'm just happy not to be off by, you know, a magnitude of three or four or something. Like$100 billion? I thought I was off, yeah. It was a perfectly responsible guess, as it turns out. I mean, it could have been off by tens of billions.

1:02:58Emily Flippen:And part of the reason that none of us really knows this company that well is because the stock hovered around$30 a share for more than a decade. No joke. Throughout the teens, the 2000 teens. But all of a sudden, it woke up in 2020, and it's more than tripled. AECOM traces its roots to 1910 when engineer Arthur G. McKee founded a small engineering firm in Cleveland that eventually became part of the modern company today through mergers and acquisitions. It was over 100 years ago. After all, today the company operates in more than 150 countries doing a lot of stuff for the Olympics, by the way, like the London 2012 Olympics transportation systems for events behind a lot of that design and design thinking.

1:03:41Emily Flippen:So that's AECOM, Emily 7, Bill 2. One thing I always like to say to prop up my players who are behind Bill is people tend just to remember whatever happens at the end. So you have an opportunity here to cement confidence in the Barker brand and extra love of the Barker protocol among untold thousands based on what happens on this stock number 10 alone.

1:04:06Bill Barker:Are you saying, because I think you are, that this is like any playground basketball game, which is like next one wins.

1:04:17Bill Barker:Whoever scores the last point wins. That's how you have to wrap up some of these kinds of contests. I feel that's what you said.

1:04:26Emily Flippen:If Emily agrees with that, yes. She did say double or nothing, so we might give you an honorary extra point were you to get this.

1:04:32Bill Barker:If I get this, I can get all the way to four.

1:04:36Emily Flippen:So let's turn to Emily for stock number 10. Emily, when you're thinking about dinner these days, it's been a long day. There's nothing in the fridge. Do you default maybe to cooking something simple or do you reach for one of the delivery apps?

1:04:50Bill Barker:It's actually really funny you ask because right now I've been getting HelloFresh deliveries. Now, I didn't order it.

1:04:56Emily Flippen:Was that HelloFresh or HellaFresh?

1:04:58Bill Barker:It has not necessarily been HellaFresh, unfortunately. Okay, got it. Sorry to hear that. There's been a couple of produce duds. The experience has been good, but my sister sent them to me. She was getting some credit card rewards, and she said, I can't use this, so go for it. And I actually have a HelloFresh box in my house. She lives in London. They don't deliver. And I guess she needed some rewards points, and I was the beneficiary of said points.

1:05:20Emily Flippen:The way people get meals has really changed dramatically just in the last 10 years, I would say, wouldn't you? Oh, certainly. Crazy. Instead of calling the restaurant down the street, we now just scroll through dozens of options on our phones or have a well-meaning sister who helps us across the pond. But in some parts of the world, the apps that you're using to order food, they don't stop at food. They're also delivering groceries. They're giving you rides, even handling digital payments to the conversation we had earlier with Bill. Digital Payer Supreme. All, by the way, from that same screen, that same app on your phone.

1:05:59Emily Flippen:Stock number 10 is Grab Holdings Limited. ticker symbol. Yeah, I mean, this is a good one. G-R-A-B. Grab operates a super app across Southeast Asia that combines ride hailing, food delivery, digital payments into a single platform used by millions of people every day. It's the kind of company that came public with, this is a little bit of a spoiler here, with enormous excitement and a huge addressable market story. And then, well, we'll talk about that in a minute. Emily Flippen, What is your stated market cap range for Grab Holdings Limited, ticker symbol G-R-A-B?

1:06:36Bill Barker:I love this company. I am one of those investors who think that the market has grossly misunderstood Grab Holdings. And I view Grab Holdings today kind of like Uber when it first went public. Because if anybody remembers, Uber went public, giving a lot of discounts to incentivize riders and adoption. And there was a big discount on whether or not this company would ever drive profitability. And I think Grab not only has the potential to drive Uber levels of profitability, both Uber and Uber, but also has a lot more upside. And I know that its market cap today, in my opinion, is really undervaluing that optionality.

1:07:15Bill Barker:Now, I am not overly confident about the exact specification. Well, that's the game we're playing, unfortunately.

1:07:22Emily Flippen:Although people do love hearing both of your opinions and analysis of a lot of the stocks that we're talking about. or in some cases encountering for the very first time. Emily, what are you thinking here? Market cap range grab.

1:07:33Bill Barker:At the risk of discounting all of my great grab analysis with a market cap that is incredibly off base here, I'm going to give you a range of$15 to$20 billion.

1:07:44Emily Flippen:$15 billion to$20 billion. Bill, do you regularly order stuff to have delivered at your house to eat at night like I do?

1:07:53Bill Barker:Yeah, more and more frequently, yeah. And I can only imagine that Emily knows exactly what she's dealing with here, as has been the case throughout. So the smartest thing to do would be to agree with it. And it doesn't really matter whether I'm smart anymore on this one or not.

1:08:11Emily Flippen:But we talked about this. It does matter. Everything matters, Bill Barker.

1:08:15Bill Barker:I mean, you can imagine, as I said, the crying last time. I mean, this time with the beatdown that I've taken, it's just going to be even worse. So I'm going to agree because she's been on target. I think she'd rather get it right than trick me.

1:08:32Emily Flippen:Bill Barker is a learning machine. He said he's now observed Emily long enough through this show that he feels confident when she says a range that she's right. Player at home, what do you say? 15 to 20 billion inside or outside that range. All right, then. Bill has been getting smarter and Emily is pretty smart. 16.05 billion. And yes, solidly within Emily's range. So, Bill, you get the plus one with a shadow. Plus one whispered.

1:09:02Bill Barker:That was the double or nothing one, right? Yes. So, plus two for me, minus two for Emily. Something like that? Yeah. Emily still had seven and she wins. So, it's five to four. We'll all remember it as five to four that way. If you like.

1:09:18Emily Flippen:And I'm glad we ended on this one, Emily, because this is a company that is really interesting. I mean, as Americans, I have no opportunity to use Grab. I haven't really studied the stock much, but the share price today does sit in the low single digits, by the way, which is a reminder that price per share doesn't really matter much. That's why we're about market caps. The stock is at$3.95 with a market cap of over$16 billion.

1:09:42Bill Barker:If I can explain some of that, I mean, Uber tried to make their business work in Southeast Asia where Grab operates and found the environment so challenging that instead of trying to make it work, they just sold their position to Grab. They have an ownership stake in the business. And the varying countries with all their different legal and regulations, especially with the financing side of Grab's business, the moat that they're developing there, I think, is just something that's going to be unreplicatable, for lack of a better word here, which over the course I expect of the next decade, let's say, give myself a long time horizon, hopefully will wear out.

1:10:14Bill Barker:I don't expect for this to be a$16 billion company forever.

1:10:18Emily Flippen:Came public in December 2021 through the largest SPAC merger in history at the time. It combined with Altimeter Growth Company and debuted on the Nasdaq at a valuation of roughly$40 billion. Saw that huge total addressable market. Lots of stuff was pumped up in 2021. Like a lot of stuff that was pumped up during COVID, this company now sits at less than half the market cap at which it peaked in 2021. It will be an interesting one to continue to follow. Well, thank you both. The final accounting is then this. Emily 7, Bill 3, 4. But Emily and Bill and I know that we're not playing this game for each other.

1:11:00Emily Flippen:We're playing for you. So how did you score at home? Dear fellow fool, we hope that you outscored all of us. The purpose of the Market Cap Game Show is to make more popular, I'm never going to say as popular as Survivor, 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. Emily and Bill, you've both distinguished yourselves and helped make the world a bit smarter, happier and richer.

1:11:35Emily Flippen:And Emily, we will see you next week. Yep, next week is our annual March Market Cap Madness World Championship, where Emily Flippen will be taking on Cinderella Lauren Hurst. But for now, a last line from you, Bill.

1:11:53Bill Barker:After the beating I took, I'm going to have to make sure, for the first time in what I think is a quarter century, watch Survivor. Nice.

1:12:04Emily Flippen:And I still have never watched the show. I have so many friends who love it and they're so excited that I know Emily. Like that's so much fun. And it did just season 50 did just tip off last month. So thank you, Bill, for that. Emily, last line from you.

1:12:16Bill Barker:I had a nice little line prepared about how great it is to have the opportunity to talk about market caps here. Because when I do this in my regular life, it's just concerning, right? Here it gets me accolades. But instead, instead, I'm going to use my line to please beg Bill and beg the listeners to not watch Survivor. If you haven't already started, don't pick it up right now.

1:12:36Emily Flippen:Spare me. You're definitely not supposed to say that as a prominent survivor celebrity who is beloved by the team's players that she's played with.

1:12:46Bill Barker:I like to keep my professional life and my, could we call that my personal life? Reality TV life separate? Is this covered now in the prediction markets? It is actually, yes. How are you doing? I will say my ethics prevent me from touching that with a 10-foot hole. They prevent you from observing what the prediction markets say? I do watch it with a skeptical eye. But you are aware of what the prediction markets say, and how are you doing in the prediction markets? I will leave the curious guest to look it up themselves. Anybody can check that out themselves. That's the thing.

1:13:23Emily Flippen:Look it up. And in the meantime, looking forward to next week with Emily and Lauren. To you, we say simply, thanks and Fool 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.