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That's it guys, it's over. 
I'm completely done with 

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dividend investing. 
I give up. 

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I really, I just really don't 
enjoy it. 

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I don't enjoy looking at the 
gains that I'm making in capital

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appreciation and earn dividends.
I don't like being able to go 

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over to my activity feed of my 
brokerage and see the constant 

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stream of income coming into my 
brokerage just adding to my cash

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balance, allowing me to 
constantly contribute more and 

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more to my portfolio and I 
especially don't like looking at

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the upcoming dividends, how I'm 
going to earn a hundred and 

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twenty dollars in a few days. 
From one of my Holdings, I'm 

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going. 
To earn another nine dollars 

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from Nike store capitals going 
to pay me a hundred and thirty 

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six dollars on the 15th of next 
month. 

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I don't like seeing all this 
money coming in and I especially

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don't like seeing my yearly 
dividends the amount of money 

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that I'm growing. 
A passive income go up from $300

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to $1700 to 3200 dollars almost 
doubling every single year year 

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over year and then over the 
course of months, just having it

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go up month after month after 
month. 

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You know, it's just something I 
get tired of after a while. 

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I don't enjoy it. 
More. 

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So I'm completely given up. 
Okay, obviously, I'm joking. 

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Happy April, Fool's Day. 
Everybody, happy, April 1st, I 

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hope you've had a good first 
quarter in the market were three

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months in. 
We finally made it. 

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Now, there are some things I do 
want to go over in this episode 

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regarding dividend. 
Investing investing. 

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In these more conservative 
boring, free cash flow companies

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with predictable reliable 
incomes that pay you out 

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dividends. 
I want to address some of the 

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claims being made because 
there's been some claims that 

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this style of investing, 
although it might be fun and it 

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Provides you with constant 
income, it really doesn't give 

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you good total returns. 
That's what people are saying. 

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It's not good for total returns,
I think that this is very false.

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In fact, I think a lot of the 
data shows that this is false 

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and that this form of investing,
buying low value companies 

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trading at low multiples, that 
provide constant stream of 

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incomes and have high amounts of
free cash flow. 

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They provide Superior returns to
the overall market. 

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So I'll be showing examples of 
this will be going over this and

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examining it. 
This type of investing first, 

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the S&P Hundred. 
So we'll look at that in this 

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episode. 
Now, we also have some big news 

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stories, we're going to be 
getting to, in this episode, 

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Microsoft has won this massive 
US Army contract. 

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That could be up to 22 billion 
dollars in value over the next 

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10 years. 
That is a lot of money, even for

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Microsoft. 
So we'll be looking at this 

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news. 
We're also going to be looking 

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at news that Discord the chat 
application. 

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It's one of the main features of
a lot of patreons and my patreon

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to get access to a community 
Discord. 

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Well the implemented a new 
feature. 

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That's basically a ripoff of 
Clubhouse. 

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In fact, it functions 
identically. 

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We did one impromptu Clubhouse. 
On the Discord already, it was a

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lot of fun, but I'm going to 
share my thoughts on this whole 

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idea of different companies like
Discord ripping off Clubhouse. 

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Now, before we get into all of 
this, be sure to check out the 

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patreon. 
You get access to that Discord, 

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you'll be invited to do lots of 
fun things like participate in 

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the clubhouse meetings, we have 
there's lots of exclusive 

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content. 
You get access to every buy and 

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sell I do as well as just daily 
discussions. 

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We're having a party over there 
so you can join in if you want 

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to In that party. 
Now, other than that, another 

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thing we recently released to 
the patreon members is this 

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beautiful portfolio tracking 
spreadsheet. 

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So you get this as well, it 
gives you visualizations on all 

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different things regarding your 
portfolio, the P/E ratios of 

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your company's, the market cap 
your incoming, dividends your 

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year-over-year growth and so on 
and so forth. 

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So this is another perky get. 
And again, this is completely 

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risk-free. 
You can try it out, 

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patreon.com/crashcourse have 
Carlson or there's a link in the

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description. 
Okay now, jump and right in we 

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have finally made it past the 
first three Months of the year 

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where past q1 of 2021 before we 
jump into the future and my kind

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of predictions my Outlook of the
future. 

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I want to take a look at the 
past and what we've gone through

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the Wall Street Journal says 
that the past quarter was 

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defined by meme stocks and ft, 
is in the tech rotation and I 

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think they're accurate. 
But they highlight something 

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else that I think is even more 
defining of the first quarter. 

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They say, for instance, meme 
stock such as Gamestop surge, 

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celebrities, dived into blank 
check companies. 

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Those are specs, those went up 
like crazy before they came 

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crashing back down. 
These auction off, a non 

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fungible token attached to a 
digital image 469 million 

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dollars. 
So there is an N FP, which is 

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something I've really I've heard
knew about it was something new 

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to me over the past couple 
months and now people are paying

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69 million dollars form. 
This is how quickly things are 

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changing. 
And then they say and just 

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before the quarters end a fire 
sale stock of our kegels Capital

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Management had bet on caused 
well-known companies like Viacom

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CBS and Discovery to Tumble. 
So this is a hedge fund that put

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a lot of money into Viacom CBS 
and discovery. 

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By pumping up the stock price 
and then when they are margin 

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called both, those stocks can 
crashing down. 

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So there's a lot of things that 
have happened over the past 

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three months. 
And then they, finally say if 

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there's any unifying theme to 
all of this, it is an Investor's

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big and small showed no fear of 
risk-taking to start 20 21. 

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In fact they embraced it. 
That's what investors are doing 

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is they're embracing risk. 
Now I think that part's a little

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bit concerning investors, big 
and small showed no fear of 

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risk-taking to start 2021 there.
Bracing risk. 

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They're not fearful, they're not
being risk cautious or they're 

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not being conservative with 
their Investments. 

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It's a little bit concerning 
when I hear talk like that. 

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In fact, it goes on to say that 
quote, there's a lot of money 

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just swishing around in the 
market. 

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And that's true. 
We can look at basically any 

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investment anything that can be 
considered investment from 

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Bitcoin to real estate to the 
Dow Jones to the S&P, 500 to the

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QQQ, everything is close to 
all-time highs. 

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Every single type of asset is 
close to all-time highs. 

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Investors are taking on more and
more risk. 

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Seeking returns Warren Buffett 
has warned against this type of 

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investor Behavior many times 
cautioning investors to actually

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care about risk to view their 
Investments is investing, in 

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actual productive assets, that 
will grow and produce things 

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over time, rather than just 
ticker symbols. 

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And he says, if you do just view
them as ticker symbols, you're 

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eventually going to be scared 
out of your Investments when 

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other people become scared that 
is normal investment Behavior. 

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If you have a temperament that 
when others are fearful, you're 

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going to get scared, Yourself. 
You know, you are not going to 

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make a lot of money and security
over time in all probability 

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that he says, if you have the 
temperament that when others are

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scared, you're going to become 
scared yourself. 

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You're not going to make a lot 
of money with Securities. 

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You shouldn't be investing in 
individual stocks, and I think 

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that he's absolutely correct 
with that. 

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One of the most popular 
Investments to have struggled 

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recently, are the ark ETFs, for 
instance, the arc Flagship fund 

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is down about 22% 23% from its 
all-time highs from just a 

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couple months ago. 
From February. 

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Now this is normal for these 
type of funds to go up and down 

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like this, overall, the 
performance has been very good, 

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but if you look at what Warren 
Buffett is warning about an 

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investment Behavior, you can see
that clearly Illustrated in the 

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fund's assets under management, 
the amount of assets that go 

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into this fund as it was making 
money, steadily raced up until 

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it hit a peak in February, 12. 
And then if we zoom in a little 

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bit, we can see what's happened 
over the past month. 

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The amount of assets under 
management has steadily declined

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with the declining performance 
of the fund. 

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Jurors were buying in when 
things were going up and the 

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ticker symbols were all moving 
up. 

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And as soon as things started to
decline investors started to 

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sell out of the fun. 
This is the exact behavior that 

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Warren Buffett. 
Cautions against chasing returns

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moving into whatever's, moving 
up and price and then selling 

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out as soon as it starts to move
down in price. 

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And I'll people really if they 
didn't look at quotations. 

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But of course, the whole world 
is urging them to look at 

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quotations and more than that. 
Do something based on small 

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changes in quotations, but if 
you didn't think I much, More 

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rational we've talked about it 
before, but think how much more 

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rational investing in a farm is 
than the way many people buy 

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stocks, them needed to buy a 
farm to get a quote next week. 

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Get a quote next month. 
If you buy an apartment house to

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get a quote next week or month, 
no, you look at the apartment 

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house or the farm and you say I 
expected it at produce so many 

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bushels of soybeans and corn, 
and if it does that it meets my 

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expectations, but they buy a 
stock and they think of it goes 

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up. 
It's wonderful. 

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And because now it's bad. 
We think just the opposite when 

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it goes down we love it because 
we'll buy. 

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Or and if it goes up with it, 
kills us to buy more Warren 

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Buffett. 
Of course, is spot-on. 

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He always looks for value and 
low priced companies that 

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produce goods and he views his 
Holdings as Farms. 

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He looks at Coca-Cola as a 
productive company that produces

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goods and it gives them a return
and dividends over a decade 

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after decade after decade, 
that's the type of investing 

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that he's done. 
He doesn't race into whatever is

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a popular meme stock, whatever 
the next. 

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SPAC, whatever thing is new and 
shiny on the market. 

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Warren Buffett has been very 
Upland and following this 

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investment style his entire 
career. 

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His most recent purchases are 
into companies that other people

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would consider really boring. 
He sold some Apple stock because

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that company race so much up in 
price that he used that money to

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buy Verizon and Chevron a 
telecom company and an oil 

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company. 
They've both been very unloved 

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by the market for a long time. 
Both of them are high yielding 

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dividend paying stocks that 
people know about. 

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He also bought a slew of other 
value companies trading at very 

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low multiples. 
We're talking about 

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pharmaceutical companies here, 
Merc Bristol-Myers, Squibb 

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AbbVie Pfizer. 
These are the very big 

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pharmaceutical companies that 
trade out low valuations and 

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these are the things that Warren
Buffett are buying into. 

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Now, in my portfolio, the 
passive income account. 

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There's a link in the 
description if you want to look 

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at this. 
But I've been trying to do the 

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same thing as Buffett I've been 
trying to buy into the 

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companies. 
I've been ignored by the rest of

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the market, and I think that I 
found some that have traded down

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to unreasonably, low valuations,
AT&T is one of them. 

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It's that A9 forward, P/E ratio,
when the rest of the market on 

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average, the S&P 500, It, is 
that a 26 P/E ratio that's 

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really expensive in historical 
terms. 

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00:09:35,100 --> 00:09:39,100
So AT&T is trading at a much 
lower PE ratio and has a huge 

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amount of free cash flow. 
That's a company that I have a 

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margin of safety when I buy it 
at these prices so AT&T will 

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offer me a lot of cash flow. 
And another company that I've 

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been buying that will increase 
my cash flow as well is Dominion

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Energy. 
This company I now have about 

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5,000 dollars in and it has a 4%
dividend yield. 

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00:09:56,300 --> 00:10:00,000
I think that it's an undervalued
company, it'll give moderate Of 

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gains over the next 10 years 
with capital appreciation, and 

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consistent dividend payments, 
that's a company. 

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00:10:05,300 --> 00:10:08,000
I like having in my portfolio 
adding to that cash flow. 

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I've targeted pharmaceutical 
companies that have a higher 

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dividend yield like Johnson & 
Johnson and app-v. 

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I've reinstated the position. 
In these companies just to 

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increase the amount of cash 
flow. 

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I'm getting with my portfolio 
with companies trading at a low 

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P/E ratio that again, provide a 
lot of cash flow and then to 

226
00:10:23,900 --> 00:10:25,600
even increase that cash flow 
further. 

227
00:10:25,600 --> 00:10:29,200
I have the income fund I have 
now around 20 thousand dollars 

228
00:10:29,200 --> 00:10:32,200
worth of jet. 
AP which is a covered call ETF. 

229
00:10:32,200 --> 00:10:35,500
It sells covered calls on the 
S&P 500 as well as it does. 

230
00:10:35,500 --> 00:10:37,900
What's called eln? 
Switch is equity-linked notes. 

231
00:10:38,200 --> 00:10:41,000
I should get at least a hundred 
dollars, a month. 

232
00:10:41,000 --> 00:10:44,400
With this holding Justin 
dividend income, not counting 

233
00:10:44,400 --> 00:10:46,100
any type of capital 
appreciation. 

234
00:10:46,300 --> 00:10:48,000
So that's another way that I'm 
increasing. 

235
00:10:48,000 --> 00:10:50,700
The amount of income that I'm 
getting is by buying into this 

236
00:10:50,700 --> 00:10:53,100
income fund JP. 
So I'm trying to do what Warren 

237
00:10:53,100 --> 00:10:55,100
Buffett says. 
And by companies that I consider

238
00:10:55,100 --> 00:10:57,800
to be Farms, they just sit 
there, they produce me cash flow

239
00:10:57,800 --> 00:11:00,700
over long periods of time and I 
have to About them, I buy him 

240
00:11:00,700 --> 00:11:03,400
one time and then I can sit 
there and earn money from now. 

241
00:11:03,400 --> 00:11:06,000
A lot of people say that this 
type of investing targeting 

242
00:11:06,000 --> 00:11:08,400
these boring, dividend-paying 
companies, these telecom 

243
00:11:08,400 --> 00:11:11,200
companies and the more 
conservative dividend-paying 

244
00:11:11,200 --> 00:11:13,900
free cash flow companies. 
It won't provide you with the 

245
00:11:13,900 --> 00:11:17,300
best returns, it's good for 
constant income and if you need 

246
00:11:17,300 --> 00:11:19,700
cash, but it's really not good 
for total returns. 

247
00:11:19,900 --> 00:11:22,400
That's what people tell you, but
it's really not accurate. 

248
00:11:22,500 --> 00:11:26,400
You can compare the fund. 
For instance, the SC HD Schwab's

249
00:11:26,400 --> 00:11:29,000
u.s. dividend Equity ETF. 
That's an ETF. 

250
00:11:29,000 --> 00:11:32,500
That only Holds dividends 
against the S&P 500. 

251
00:11:32,600 --> 00:11:34,900
In fact, let's go ahead and look
at some of the companies in 

252
00:11:35,000 --> 00:11:37,800
sdhd. 
We have Home Depot, Texas, 

253
00:11:37,800 --> 00:11:40,400
instrument, and Ambien as a top 
three Holdings. 

254
00:11:40,900 --> 00:11:42,900
So we don't have apple Google 
and Facebook. 

255
00:11:43,100 --> 00:11:44,800
We don't have a Dobby. 
We don't have all those type of 

256
00:11:44,800 --> 00:11:46,800
companies. 
We have Home Depot, Texas 

257
00:11:46,800 --> 00:11:51,700
instrument, am Jim Cisco, Pepsi,
IBM, broadcom, Pfizer, 

258
00:11:51,700 --> 00:11:56,300
Coca-Cola, Merc Verizon 3M. 
BlackRock we have a bunch of 

259
00:11:56,300 --> 00:11:59,200
boring companies, right? 
These are old boring companies. 

260
00:11:59,200 --> 00:12:01,800
That pay Ends. 
And this is what this portfolio 

261
00:12:01,800 --> 00:12:05,200
of SCH D is made out of a bunch 
of these type of companies. 

262
00:12:05,500 --> 00:12:08,600
Well if you actually compare the
returns to the S&P 500 with 

263
00:12:08,600 --> 00:12:12,300
dividends reinvested over the 
past year, s CH D has 

264
00:12:12,300 --> 00:12:16,100
outperformed the S&P 500, it's 
outperformed the broader Market 

265
00:12:16,100 --> 00:12:20,500
67.8% to 56.3. 
Then we can look at a three year

266
00:12:20,500 --> 00:12:24,300
period for the past three years,
sdhd has outperformed the S&P 

267
00:12:24,300 --> 00:12:27,400
500, sixty four point three, 
eight percent to fifty nine 

268
00:12:27,400 --> 00:12:29,300
point two. 
Five percent, we can even look 

269
00:12:29,300 --> 00:12:33,900
at the past 10 years, the past 
decade and surely SC HD during a

270
00:12:33,900 --> 00:12:36,300
time where the tech companies 
have taken off. 

271
00:12:36,500 --> 00:12:39,700
We're all these Cloud companies 
have really accelerated seh. 

272
00:12:39,700 --> 00:12:42,900
Di couldn't have outperformed, 
the S&P 500 over the past 10 

273
00:12:42,900 --> 00:12:45,100
years. 
Well, it has two hundred and 

274
00:12:45,100 --> 00:12:48,100
eighty-six percent returns to 
two hundred and sixty seven 

275
00:12:48,100 --> 00:12:52,200
percent s CH D with companies 
like Home Depot, Cisco, Verizon 

276
00:12:52,300 --> 00:12:55,800
has outperformed the S&P 500. 
If you include dividends 

277
00:12:55,800 --> 00:12:58,800
reinvested back into it, the 
Dividends are huge part of total

278
00:12:58,800 --> 00:13:01,500
returns and a People don't 
include them when they're 

279
00:13:01,500 --> 00:13:03,400
looking at graphs comparing the 
returns. 

280
00:13:03,500 --> 00:13:06,600
If we switch this to only look 
at Price return and we exclude 

281
00:13:06,600 --> 00:13:09,600
dividends obviously the 
dividend-paying companies have 

282
00:13:09,600 --> 00:13:13,000
not outperformed, the S&P 500. 
For instance, seh, di would have

283
00:13:13,008 --> 00:13:16,100
returned only one hundred and 
ninety-one percent while the S&P

284
00:13:16,100 --> 00:13:19,100
500 return, the two hundred 
sixty seven percent, but with 

285
00:13:19,100 --> 00:13:22,400
total returns with dividends 
included, the dividend fund has 

286
00:13:22,400 --> 00:13:25,600
outperformed the broader market.
So I'm not saying to only invest

287
00:13:25,600 --> 00:13:28,100
in dividend-paying companies and
any dividend-paying companies, a

288
00:13:28,108 --> 00:13:31,100
good investment but I am Saying 
that companies that trade at low

289
00:13:31,100 --> 00:13:34,200
valuations compared to the rest 
of the market that have highly 

290
00:13:34,200 --> 00:13:36,900
predictable businesses with 
large amounts of free cash flow 

291
00:13:36,900 --> 00:13:39,800
usually tend to be good 
Investments over long periods of

292
00:13:39,808 --> 00:13:41,800
time. 
And we've seen that proven time 

293
00:13:41,800 --> 00:13:45,200
and time again over the past 50 
years over the past 10 years and

294
00:13:45,200 --> 00:13:48,000
over the past five years, these 
type of companies perform. 

295
00:13:48,000 --> 00:13:51,900
Well if you have the patience to
hang on to them even when 

296
00:13:51,900 --> 00:13:54,600
they're not the popular 
investment, Charlie Munger talks

297
00:13:54,600 --> 00:13:56,700
about this very type of thing in
a shareholder meeting. 

298
00:13:56,700 --> 00:13:58,900
He talks about two different 
types of investors. 

299
00:13:58,900 --> 00:14:02,200
One of That's a very active type
of investing where you're 

300
00:14:02,200 --> 00:14:04,600
constantly looking for. 
Whatever is a deal right now, 

301
00:14:04,800 --> 00:14:07,300
you buy in a different companies
and sell out of them after they 

302
00:14:07,300 --> 00:14:10,600
run up in price and it's a very 
active labor, some type of 

303
00:14:10,600 --> 00:14:13,200
investing, he likes the type of 
investing, that's the 

304
00:14:13,208 --> 00:14:16,000
alternative, buying good 
companies, trading at low 

305
00:14:16,000 --> 00:14:19,100
valuations, and holding them for
a very long time, and doing 

306
00:14:19,100 --> 00:14:20,800
nothing. 
That's the type of investing 

307
00:14:20,800 --> 00:14:23,500
that he likes. 
Well, I agree that all 

308
00:14:23,500 --> 00:14:26,800
intelligent investing is value 
investing. 

309
00:14:27,600 --> 00:14:33,100
You have to Acquire, more than 
you really pay for, and that's a

310
00:14:33,100 --> 00:14:37,800
value judgment. 
But you can look for more than 

311
00:14:37,800 --> 00:14:42,000
you're paying for in a lot of 
different ways you can use 

312
00:14:42,000 --> 00:14:45,700
filters to sift the investment 
universe. 

313
00:14:46,400 --> 00:14:53,400
And if you stick with stocks 
that can't possibly be wonderful

314
00:14:53,400 --> 00:14:59,000
to just put away in your safe 
deposit box for 40 years butter 

315
00:14:59,700 --> 00:15:02,200
underpriced. 
Then you have to keep moving 

316
00:15:02,200 --> 00:15:06,600
around all the time as they 
Closer to what you think the 

317
00:15:06,608 --> 00:15:09,500
real value is, you have to sell 
them and then find the others. 

318
00:15:10,400 --> 00:15:14,400
So, it's a, it's an active kind 
of investing. 

319
00:15:15,300 --> 00:15:17,800
He's saying, he doesn't like to 
invest in companies that you 

320
00:15:17,800 --> 00:15:20,800
have to be active with the you 
have to constantly be moving in 

321
00:15:20,800 --> 00:15:23,700
and out of different companies. 
That's a way to find Value. 

322
00:15:23,700 --> 00:15:26,200
There's some people that like 
doing that they can buy into 

323
00:15:26,200 --> 00:15:28,200
companies and hold them for 
short time periods. 

324
00:15:28,400 --> 00:15:30,900
Most people aren't really 
successful doing that but that's

325
00:15:30,900 --> 00:15:33,300
not the type of investing that 
Charlie Munger likes. 

326
00:15:33,300 --> 00:15:36,300
He describes the type of 
investing that he really enjoys 

327
00:15:36,500 --> 00:15:39,100
the investing where you find a 
few great companies. 

328
00:15:40,200 --> 00:15:43,400
And just sit on your ass because
you've correctly predicted the 

329
00:15:43,408 --> 00:15:47,400
future. 
That is what it's very nice to 

330
00:15:47,400 --> 00:15:53,000
be good at the movie was G-rated
even a come on Charlie. 

331
00:15:53,000 --> 00:15:54,700
This is a this is a family show 
here. 

332
00:15:54,700 --> 00:15:57,300
The Joseph Carlson shows a 
family show, sorry about the 

333
00:15:57,300 --> 00:15:59,700
language there. 
But Charlie's correct finding a 

334
00:15:59,700 --> 00:16:01,800
few good companies that you can 
invest in. 

335
00:16:02,100 --> 00:16:04,100
And then you can just sit on 
your butt for decade after 

336
00:16:04,100 --> 00:16:06,200
decade and watch the money poor 
in. 

337
00:16:06,400 --> 00:16:08,600
I think, is the preferable way 
of investing. 

338
00:16:08,700 --> 00:16:10,800
That's why I invest in these 
Type of companies. 

339
00:16:11,000 --> 00:16:14,000
I know, I can hold Disney for 
the next 10 years. 

340
00:16:14,300 --> 00:16:16,300
I can hold onto the stock for 
the next 20 years. 

341
00:16:16,300 --> 00:16:19,300
Probably I have Costco. 
This again is a company that I 

342
00:16:19,300 --> 00:16:23,200
can hold on to for 10 or 20 
years at a minimum and then Home

343
00:16:23,200 --> 00:16:25,700
Depot and Nike and Comcast and 
Target. 

344
00:16:25,800 --> 00:16:29,100
These are companies that are not
short-term plays, I never intend

345
00:16:29,100 --> 00:16:31,800
to sell out of them. 
I plan on holding them, watching

346
00:16:31,800 --> 00:16:34,400
them pay, me dividends watching 
them grow their business. 

347
00:16:34,700 --> 00:16:35,800
Disney will grow their 
streaming? 

348
00:16:35,800 --> 00:16:38,000
Empire Costco will open new 
locations? 

349
00:16:38,200 --> 00:16:40,800
Home Depot will benefit from a 
And millions of new people 

350
00:16:40,800 --> 00:16:43,700
looking to buy houses and 
constantly doing projects and 

351
00:16:43,700 --> 00:16:45,300
different things to upgrade 
their homes. 

352
00:16:45,600 --> 00:16:48,600
Nike has long-standing Brand 
value, that can't be replaced by

353
00:16:48,600 --> 00:16:51,500
other brands, Comcast will 
continue to grow peacock, and 

354
00:16:51,500 --> 00:16:54,600
it's different cable services, 
and CNBC and target, of course, 

355
00:16:54,600 --> 00:16:57,300
is one of the best retailers. 
All these are companies that I 

356
00:16:57,308 --> 00:16:59,400
really don't concern myself with
the day-to-day. 

357
00:16:59,500 --> 00:17:00,800
I don't look at these that 
often. 

358
00:17:01,100 --> 00:17:03,700
The only point that I really 
look at them is to see if 

359
00:17:03,700 --> 00:17:05,900
they've traded down a little 
bit, so I can accumulate more 

360
00:17:05,900 --> 00:17:07,599
shares. 
That's the only time that I 

361
00:17:07,608 --> 00:17:10,700
really look at these companies 
is to see if Our trading down in

362
00:17:10,708 --> 00:17:14,200
price so that I can pick up 
shares at a cheaper price point.

363
00:17:14,200 --> 00:17:16,900
But other than that, the growth 
path is clear for all of them. 

364
00:17:17,000 --> 00:17:19,300
And I can say the same thing 
about my tech companies with 

365
00:17:19,300 --> 00:17:22,500
apple and Microsoft or my 
fintech companies with JPMorgan 

366
00:17:22,500 --> 00:17:25,400
and MasterCard I can say the 
same thing about real estate. 

367
00:17:25,400 --> 00:17:27,800
I don't do anything with that 
other than watch the dividends 

368
00:17:27,800 --> 00:17:30,700
role in the same thing with the 
income fund and so on and so 

369
00:17:30,700 --> 00:17:32,600
forth. 
That's what my portfolio is 

370
00:17:32,600 --> 00:17:35,700
based on, is exactly what 
Charlie Munger describes sitting

371
00:17:35,700 --> 00:17:38,800
there and letting a couple good 
companies work for me, over the 

372
00:17:38,800 --> 00:17:40,300
long term. 
And I think, I think that this 

373
00:17:40,300 --> 00:17:41,800
is a preferable way of 
investing. 

374
00:17:41,800 --> 00:17:43,800
It's the way that I really enjoy
and I think it will lead to 

375
00:17:43,800 --> 00:17:46,300
better returns. 
If you're too concerned about 

376
00:17:46,300 --> 00:17:49,900
the day-to-day price swings, we 
have drastic volatility in the 

377
00:17:49,908 --> 00:17:52,100
market right now. 
There's a lot of new investors 

378
00:17:52,100 --> 00:17:54,000
that buy and sell things all the
time. 

379
00:17:54,200 --> 00:17:56,100
A lot of hedge funds are very 
short term. 

380
00:17:56,400 --> 00:17:59,000
Don't worry about them just 
worry about your company's and 

381
00:17:59,000 --> 00:18:00,900
what they're doing. 
If your companies are good 

382
00:18:00,900 --> 00:18:04,200
companies and their growing over
time, your returns are going to 

383
00:18:04,200 --> 00:18:06,700
follow eventually. 
Just invest in good companies, 

384
00:18:07,100 --> 00:18:09,800
stay out of them, don't worry 
about them and let them grow. 

385
00:18:09,900 --> 00:18:11,600
Time and watch the Returns come 
in. 

386
00:18:11,800 --> 00:18:13,600
That's what I plan on doing with
this portfolio. 

387
00:18:13,800 --> 00:18:16,000
Now again, if you want to look 
in each of these categories and 

388
00:18:16,000 --> 00:18:18,000
see which companies, I hold, 
there's a link in the 

389
00:18:18,000 --> 00:18:19,500
description, you can look at 
that for free. 

390
00:18:19,800 --> 00:18:22,400
Now, moving on a half to mention
this news of this deal, with 

391
00:18:22,400 --> 00:18:25,600
Microsoft in the US government, 
they reached an agreement to 

392
00:18:25,600 --> 00:18:29,000
have a twenty one point nine 
billion dollar contract over the

393
00:18:29,000 --> 00:18:32,100
next 10 years. 
This is a massive deal, even for

394
00:18:32,100 --> 00:18:35,200
Microsoft and they've been doing
these government contracts, more

395
00:18:35,200 --> 00:18:38,300
and more with the win of cloud 
hosting for the Pentagon. 

396
00:18:38,400 --> 00:18:39,700
Now, they're working with the US
Army. 

397
00:18:39,800 --> 00:18:42,300
Me and they're building 
augmented reality headsets. 

398
00:18:42,500 --> 00:18:44,700
These are apparently what they 
look like, which is something 

399
00:18:44,700 --> 00:18:47,100
that I didn't really realize 
that Microsoft was that big 

400
00:18:47,100 --> 00:18:49,200
into. 
But the article says that the US

401
00:18:49,200 --> 00:18:52,400
Army said on Wednesday, 
Microsoft has won the contract 

402
00:18:52,400 --> 00:18:55,300
to build more than custom 
hololens augmented reality 

403
00:18:55,300 --> 00:18:58,200
headsets. 
So these custom Holo lens 

404
00:18:58,200 --> 00:19:01,100
augmented reality, headsets. 
They're building a lot of these 

405
00:19:01,200 --> 00:19:04,800
120 thousand to be exact and it 
could be worth up to twenty one 

406
00:19:04,800 --> 00:19:07,500
point, eight billion dollars 
over a ten-year period. 

407
00:19:07,500 --> 00:19:11,200
So it's not exactly a contract 
for Exact amount of money but 

408
00:19:11,200 --> 00:19:14,800
that's what this deal could be 
worth up to for Microsoft, they 

409
00:19:14,800 --> 00:19:16,500
go on to give different prices 
for things. 

410
00:19:16,500 --> 00:19:18,900
They say Microsoft shares moved 
up higher after the 

411
00:19:18,900 --> 00:19:22,200
announcement, the stock was up 
1.7 percent to two hundred 

412
00:19:22,200 --> 00:19:24,900
thirty, five dollars a share. 
I'm at the end of Wednesday's 

413
00:19:24,900 --> 00:19:28,000
trading session and they say the
deal shows that Microsoft can 

414
00:19:28,000 --> 00:19:31,700
generate meaningful revenue from
a futuristic product resulting 

415
00:19:31,700 --> 00:19:34,700
from years of research beyond 
their core areas such as 

416
00:19:34,700 --> 00:19:37,000
operating systems and 
productivity software. 

417
00:19:37,300 --> 00:19:39,600
That's exactly right. 
That is the takeaway from 

418
00:19:39,800 --> 00:19:42,900
Microsoft people talk about 
companies like palantir and how 

419
00:19:42,900 --> 00:19:44,800
they're big into data and 
they're going to do all these 

420
00:19:44,800 --> 00:19:47,700
things at other companies. 
Can't but Microsoft is now doing

421
00:19:47,700 --> 00:19:50,700
huge government, contracts 
building, augmented reality 

422
00:19:50,700 --> 00:19:53,700
headsets with the US Army. 
This is stuff way outside of 

423
00:19:53,708 --> 00:19:55,400
their core Suite of Office 
Products. 

424
00:19:55,500 --> 00:19:58,100
So, Microsoft is a company. 
I'm glad to have is one of my 

425
00:19:58,100 --> 00:20:00,100
top Holdings. 
This is a company that has 

426
00:20:00,100 --> 00:20:03,300
everything going for it. 
It has a reliable consistent 

427
00:20:03,300 --> 00:20:05,900
stream of Revenue with its 
office suite and its core 

428
00:20:05,900 --> 00:20:08,900
product base, but then they're 
venturing out into social media.

429
00:20:09,100 --> 00:20:12,000
There's talks of Buying Discord.
Now, they're doing big contracts

430
00:20:12,000 --> 00:20:14,300
with the government on a more 
routine basis. 

431
00:20:14,500 --> 00:20:16,900
This is a company that I think 
has everything going for it, 

432
00:20:16,900 --> 00:20:20,100
it's very difficult in my mind. 
Is Microsoft struggling over the

433
00:20:20,100 --> 00:20:22,300
next 10 years now. 
Moving on to the next piece of 

434
00:20:22,300 --> 00:20:25,400
news, we know that Discord 
copied Clubhouse. 

435
00:20:25,400 --> 00:20:28,400
They build a clubhouse. 
Like feature, it's basically the

436
00:20:28,400 --> 00:20:30,100
exact same thing. 
They just built it out and 

437
00:20:30,100 --> 00:20:31,600
Discord. 
They probably did it in one 

438
00:20:31,600 --> 00:20:33,400
weekend. 
I've already done one of these 

439
00:20:33,400 --> 00:20:36,300
audio Clubhouse meetings on 
Discord on our patreon. 

440
00:20:36,600 --> 00:20:38,400
It was a lot of fun. 
It worked really well. 

441
00:20:38,400 --> 00:20:40,900
It was already a natural. 
Fit for this platform. 

442
00:20:40,900 --> 00:20:44,100
So discords added this sin. 
I think it's a great feature. 

443
00:20:44,100 --> 00:20:45,400
I think it's going to get a lot 
of use. 

444
00:20:45,400 --> 00:20:48,100
We plan on using it on our 
Discord, a lot more frequently 

445
00:20:48,100 --> 00:20:51,300
now, but this shows you what 
type of moat technology 

446
00:20:51,300 --> 00:20:54,600
companies have their feature set
is not their mode. 

447
00:20:54,600 --> 00:20:56,800
The amount of features that they
can build out, does not create a

448
00:20:56,808 --> 00:20:58,300
moat. 
In fact, if you look at 

449
00:20:58,300 --> 00:21:01,500
Clubhouse, for example, it's a 
good example of how many times 

450
00:21:01,500 --> 00:21:03,900
it can be ripped off. 
We know that Discord ripped it 

451
00:21:03,900 --> 00:21:06,100
off. 
We can also go to slack, the 

452
00:21:06,100 --> 00:21:09,700
slack CEO was so bold with how 
he's going to rip it off. 

453
00:21:10,100 --> 00:21:13,400
That he literally went into a 
clubhouse meeting on clubhouse, 

454
00:21:13,700 --> 00:21:16,400
with the clubhouse, CEO and 
announced to his face. 

455
00:21:16,400 --> 00:21:18,800
That he's going to copy 
Clubhouse in slack. 

456
00:21:19,100 --> 00:21:20,800
That's not body. 
Was he said that, we're going to

457
00:21:20,808 --> 00:21:23,300
copy your application and just 
build it out and slack. 

458
00:21:23,500 --> 00:21:25,400
And they can do that and get 
away with it. 

459
00:21:25,500 --> 00:21:27,600
And we know that Twitter is 
basically done the same thing as

460
00:21:27,600 --> 00:21:29,600
well. 
They built out Twitter spaces 

461
00:21:29,800 --> 00:21:32,400
which again is a copycat of 
Clubhouse. 

462
00:21:32,800 --> 00:21:34,400
So we look at companies like 
Clubhouse. 

463
00:21:34,700 --> 00:21:37,400
You ask yourself, what is the 
moat of this company? 

464
00:21:37,600 --> 00:21:40,200
What prevents competitors from 
being able to still Lll market 

465
00:21:40,200 --> 00:21:42,000
share. 
Well, it's definitely not the 

466
00:21:42,000 --> 00:21:44,600
feature set. 
What really prevents competitors

467
00:21:44,600 --> 00:21:47,500
from stealing market. 
Share is the network effect of 

468
00:21:47,500 --> 00:21:51,100
already having massive scale. 
The question is, how much scale 

469
00:21:51,100 --> 00:21:53,100
do they have? 
Lots of developers? 

470
00:21:53,100 --> 00:21:55,900
Could build a copycat of 
Facebook but they can't get any 

471
00:21:55,900 --> 00:21:58,500
users because Facebook already 
has global scale. 

472
00:21:58,800 --> 00:22:01,200
You have to ask yourself what 
technology companies have the 

473
00:22:01,200 --> 00:22:03,100
scale to keep their market 
share. 

474
00:22:03,300 --> 00:22:06,000
So we'll see how this continues 
to develop what new companies. 

475
00:22:06,000 --> 00:22:09,300
Continue to copy Clubhouse. 
I think that Spotify will be 

476
00:22:09,300 --> 00:22:11,100
like that. 
Next big one to do it. 

477
00:22:11,200 --> 00:22:13,300
They're the biggest audio 
platform in the world and 

478
00:22:13,308 --> 00:22:15,200
they've already signaled that 
they're going to be building 

479
00:22:15,200 --> 00:22:18,200
something similar to clubhouse. 
I think that Spotify will try to

480
00:22:18,200 --> 00:22:20,600
get it right because there are 
massive audio platform. 

481
00:22:20,800 --> 00:22:22,200
They're really going to want to 
get this, right? 

482
00:22:22,200 --> 00:22:25,700
But interesting nonetheless, it 
goes to show how quickly these 

483
00:22:25,700 --> 00:22:27,900
different features from these 
startup companies and new tech 

484
00:22:27,900 --> 00:22:30,900
companies can quickly be 
replicated by all the already 

485
00:22:30,900 --> 00:22:34,600
existing technology companies. 
There's really no mo and my mind

486
00:22:34,700 --> 00:22:37,600
outside of the network effect, 
having lots of users. 

487
00:22:37,700 --> 00:22:39,500
Now, that's all for today. 
I hope you guys enjoyed the 

488
00:22:39,500 --> 00:22:40,200
episode. 
Episode. 

489
00:22:40,200 --> 00:22:42,300
I'm going to give frequent 
updates in the future of all the

490
00:22:42,300 --> 00:22:44,900
different stocks I'm buying as 
well as my growth and passive 

491
00:22:44,900 --> 00:22:47,100
income and the growth of this 
portfolio so far. 

492
00:22:47,100 --> 00:22:49,700
It's going good. 
I'm very satisfied with it and I

493
00:22:49,700 --> 00:22:52,600
plan on continuing to do this 
style of investing, I very much 

494
00:22:52,600 --> 00:22:55,300
like buying these conservative 
companies sitting back and 

495
00:22:55,300 --> 00:22:57,800
watching them, make me money 
over and over again, quarter 

496
00:22:57,800 --> 00:23:00,000
after quarter, it's a really fun
style of investing. 

497
00:23:00,000 --> 00:23:01,900
So I appreciate you guys for 
listening. 

498
00:23:01,900 --> 00:23:03,000
I'll check in with you next 
time. 

499
00:22:39,800 --> 00:22:41,100
Episode. 
I'm going to give frequent 

500
00:22:41,100 --> 00:22:43,500
updates in the future of all the
different stocks I'm buying as 

501
00:22:43,500 --> 00:22:45,900
well as my growth and passive 
income and the growth of this 

502
00:22:45,900 --> 00:22:47,900
portfolio so far. 
It's going good. 

503
00:22:48,000 --> 00:22:50,800
I'm very satisfied with it and I
plan on continuing to do this 

504
00:22:50,800 --> 00:22:53,800
style of investing, I very much 
like buying these conservative 

505
00:22:53,800 --> 00:22:56,500
companies sitting back and 
watching them, make me money 

506
00:22:56,500 --> 00:22:59,300
over and over again, quarter 
after quarter, it's a really fun

507
00:22:59,300 --> 00:23:01,400
style of investing. 
So I appreciate you guys for 

508
00:23:01,400 --> 00:23:02,800
listening. 
I'll check in with you next 

509
00:23:02,800 --> 00:23:03,000
time.