1 00:00:00,200 --> 00:00:04,080 We are sorry, deeply and truly sorry. 2 00:00:05,120 --> 00:00:07,280 That's the whole purpose of these hearings. 3 00:00:07,640 --> 00:00:09,240 This, of course, is Dennis Muhlenberg. 4 00:00:09,240 --> 00:00:11,880 He's the CEO of Boeing, which is one of the biggest dividend 5 00:00:11,880 --> 00:00:14,520 paying companies in the world. Behind them is a lot of the 6 00:00:14,520 --> 00:00:16,880 victims, families of these two plane crashes. 7 00:00:17,280 --> 00:00:20,960 He's in front of Congress to show that Boeing is a company is 8 00:00:20,960 --> 00:00:23,120 sorry. That is the main thing that he 9 00:00:23,120 --> 00:00:26,280 has to convince them of. He needs to show that Boeing 10 00:00:26,280 --> 00:00:29,000 cares about the victims, that they care about the loss of 11 00:00:29,000 --> 00:00:30,900 life. That they're not just focused on 12 00:00:30,900 --> 00:00:33,100 company profits or getting their stock prices up. 13 00:00:33,540 --> 00:00:37,460 The worst thing that he could do in this hearing is come off as 14 00:00:37,460 --> 00:00:40,980 uncaring, as robotic or unsympathetic or detached from 15 00:00:40,980 --> 00:00:43,580 what happened. If he comes off that way, this 16 00:00:43,580 --> 00:00:45,260 hearing would be a total disaster. 17 00:00:45,540 --> 00:00:49,620 If he shows true contrition and sorrow for the accidents, then 18 00:00:49,620 --> 00:00:51,020 he's going to come out OK on this. 19 00:00:51,220 --> 00:00:54,100 That is what this whole thing comes down to, Congress. 20 00:00:54,100 --> 00:00:55,860 They're not going to solve anything with the airplanes. 21 00:00:55,860 --> 00:00:57,220 They're not going to write new laws. 22 00:00:57,420 --> 00:00:59,300 They don't understand the aviation industry. 23 00:00:59,650 --> 00:01:02,330 Enough to even begin to do that. Boeing is going to fix this 24 00:01:02,330 --> 00:01:03,850 plane. They have their engineers 25 00:01:03,850 --> 00:01:05,810 scrutinizing it. It's going to be the most 26 00:01:05,810 --> 00:01:07,970 heavily scrutinized plane to ever fly. 27 00:01:08,370 --> 00:01:11,450 And they know that if they have another plane crash for any 28 00:01:11,450 --> 00:01:14,610 issue that is remotely related to this, the company would be 29 00:01:14,610 --> 00:01:16,770 damaged beyond repair. They're not going to let that 30 00:01:16,770 --> 00:01:19,050 happen. So the whole purpose of this 31 00:01:19,050 --> 00:01:23,570 meeting is for Dennis Muhlenberg to show that Boeing cares about 32 00:01:23,570 --> 00:01:25,890 the families that were affected by this, that they care about 33 00:01:25,890 --> 00:01:28,930 the victims and they care about repairing public trust. 34 00:01:29,200 --> 00:01:31,760 That is the whole purpose of it and we can look and see how 35 00:01:31,760 --> 00:01:34,000 Boeing did these two days in front of Congress. 36 00:01:34,080 --> 00:01:36,960 Now as this hearing went on, I think what investors in Boeing, 37 00:01:37,040 --> 00:01:39,240 shareholders of Boeing, are looking for. 38 00:01:39,600 --> 00:01:44,520 Is to see if Dennis Millenberg, if he can withstand the rebukes 39 00:01:44,520 --> 00:01:46,920 and the lashings that he gets from Congress, that's really 40 00:01:46,920 --> 00:01:48,640 what it was Investors want to see. 41 00:01:48,840 --> 00:01:52,160 Is Congress going to be able to do longlasting damage to Boeing 42 00:01:52,320 --> 00:01:54,680 like they've done with Wells Fargo and other big companies 43 00:01:54,680 --> 00:01:57,400 that they've had before them? Or is this something that Boeing 44 00:01:57,400 --> 00:01:58,680 is going to be able to recover from? 45 00:01:58,760 --> 00:02:01,040 Is this something that's going to damage Boeing? 46 00:02:01,400 --> 00:02:03,440 And what I'll do is I'll just play a couple clips of what I 47 00:02:03,440 --> 00:02:05,680 think are the most damaging moments, the biggest rebukes 48 00:02:05,680 --> 00:02:07,760 that Congress gave Boeing and Dennis Millenberg. 49 00:02:08,610 --> 00:02:12,810 Boeing came to my office shortly after these crashes and said 50 00:02:12,810 --> 00:02:14,850 they were the result of pilot error. 51 00:02:17,610 --> 00:02:22,090 Those pilots never had a chance. These loved ones never had a 52 00:02:22,330 --> 00:02:24,970 chance. They were in flying coffins as a 53 00:02:24,970 --> 00:02:31,810 result of Boeing deciding that it was going to conceal M cast 54 00:02:32,050 --> 00:02:36,210 from the pilots. Senator Blumenthal just called 55 00:02:36,210 --> 00:02:39,530 the airplanes the Boeing manufacturers flying coffins. 56 00:02:39,890 --> 00:02:42,530 That is a pretty harsh rebuke, but definitely not the worst 57 00:02:42,530 --> 00:02:44,450 that Dennis Muhlenberg received at this hearing. 58 00:02:44,850 --> 00:02:47,530 Here's a clip from Senator Ted Cruz highlighting that message 59 00:02:47,530 --> 00:02:50,370 that we talked about in a previous episode where the 2 60 00:02:50,370 --> 00:02:53,610 pilots are going back and forth saying, yeah, we basically lied 61 00:02:53,610 --> 00:02:56,050 to the investigators oops. And they said, Oh well, we 62 00:02:56,050 --> 00:02:58,690 didn't mean to. That never got revealed until 63 00:02:58,690 --> 00:03:01,930 this investigation. What I find most stunning is 64 00:03:01,930 --> 00:03:05,750 your testimony here today. That you said you first learned 65 00:03:05,750 --> 00:03:08,790 to this exchange a couple of weeks ago. 66 00:03:11,230 --> 00:03:17,030 These are senior leaders at Boeing in an exchange saying and 67 00:03:17,030 --> 00:03:23,430 I will quote again. So I basically lied to the 68 00:03:23,430 --> 00:03:27,110 regulators. That exchange that got released 69 00:03:27,110 --> 00:03:30,150 between those two pilots is pretty damning, and Ted Cruz 70 00:03:30,150 --> 00:03:33,190 here was the first one to really vocalize his frustration of it. 71 00:03:33,660 --> 00:03:36,860 But he still was not the one that gave Dennis Millenberg in 72 00:03:36,860 --> 00:03:39,340 particular, the hardest time. You know, they went back and 73 00:03:39,340 --> 00:03:41,460 forth, he said. The buck stops at you. 74 00:03:41,460 --> 00:03:43,100 You're the one responsible of this. 75 00:03:43,500 --> 00:03:46,460 But as this went on, it was like a match for Congress to 76 00:03:46,460 --> 00:03:48,820 continually get harder and harder on Dennis Millenberg. 77 00:03:49,240 --> 00:03:52,120 The winner of the award of giving Boeing the biggest 78 00:03:52,120 --> 00:03:54,240 rebuking has to go to Senator Cohen. 79 00:03:54,400 --> 00:03:57,400 He's the one that really looked at Dennis Muhlenberg and brought 80 00:03:57,400 --> 00:03:59,920 up resigning, Brought up taking a salary cut. 81 00:04:00,120 --> 00:04:03,040 Doing specific things would actually affect Dennis 82 00:04:03,040 --> 00:04:03,600 Muhlenberg. Let. 83 00:04:03,920 --> 00:04:06,320 Me ask you this, Mr. Muhlenberg, you said you're accountable. 84 00:04:07,560 --> 00:04:10,040 What does accountability mean? Are you taking a cut and pay? 85 00:04:10,040 --> 00:04:12,480 Are you working for free from now on till you can cure this 86 00:04:12,480 --> 00:04:14,960 problem? These people's relatives are not 87 00:04:14,960 --> 00:04:16,399 coming back. They're gone. 88 00:04:17,050 --> 00:04:20,130 Your salary is still on. Is anybody at Boeing taking a 89 00:04:20,130 --> 00:04:23,490 cut or working for free to try to rectify this problem like the 90 00:04:23,490 --> 00:04:29,210 Japanese would do, Congressman? It's not about the money for me, 91 00:04:29,250 --> 00:04:31,210 that's not why I came. Are you giving up any money, 92 00:04:31,890 --> 00:04:34,690 Congressman? My board will conduct A 93 00:04:34,690 --> 00:04:35,850 comprehensive review. That's. 94 00:04:35,850 --> 00:04:38,130 So you're saying you're not giving up any compensation at 95 00:04:38,130 --> 00:04:42,010 all, You're continuing to work and make $30 million a year? 96 00:04:42,260 --> 00:04:46,300 After this horrific 2 accidents that caused all these people's 97 00:04:46,300 --> 00:04:50,740 relatives to go, to disappear, to die, you're not taking a cut 98 00:04:50,740 --> 00:04:53,340 and pay at all. Congressman. 99 00:04:54,380 --> 00:04:56,340 Again, our Board will make those determinations. 100 00:04:56,340 --> 00:04:58,220 You're not accountable. Then you're saying the board's 101 00:04:58,220 --> 00:05:00,740 accountable. Congressman, I am accountable. 102 00:05:01,060 --> 00:05:04,660 So this is probably the most fiery rebuking from Senator 103 00:05:04,660 --> 00:05:06,590 Cohen here. But I could show a lot more 104 00:05:06,590 --> 00:05:08,950 clips like this. There's like a dozen or so now, 105 00:05:08,950 --> 00:05:10,310 how did this actually affect the stock? 106 00:05:10,390 --> 00:05:13,630 If I go over to the Boeing stock line, this is from the past five 107 00:05:13,630 --> 00:05:17,070 days, the two days that he was before Congress, the stock price 108 00:05:17,070 --> 00:05:19,870 has gone up. It's up from the 28th. 109 00:05:19,990 --> 00:05:21,630 The stock price is up a full percentage. 110 00:05:21,630 --> 00:05:26,110 So what this shows is that what Dennis Muhlenberg did, He 111 00:05:26,110 --> 00:05:27,830 accomplished what he set out to accomplish. 112 00:05:27,990 --> 00:05:31,310 He didn't make the situation drastically worse for Boeing and 113 00:05:31,310 --> 00:05:34,920 for investors, that is just. OK, We have Congress out of the 114 00:05:34,920 --> 00:05:36,520 way now. That's a huge hurdle. 115 00:05:36,640 --> 00:05:39,480 Things could have gone worse, but getting that hurdle of 116 00:05:39,480 --> 00:05:42,320 Congress out of the way, obviously they're seeing that as 117 00:05:42,320 --> 00:05:44,600 a positive thing. All right, before I jump into 118 00:05:44,600 --> 00:05:46,600 other news items, there's a few other things I want to talk 119 00:05:46,600 --> 00:05:48,560 about in the news. But first, I want to give an 120 00:05:48,560 --> 00:05:51,920 update on the portfolio. As the thumbnail of this video 121 00:05:51,920 --> 00:05:56,080 showed, $65,000. That is what My Portfolio just 122 00:05:56,080 --> 00:05:59,720 crossed, $65,000 in value. That's a lot of money. 123 00:05:59,920 --> 00:06:02,280 You can think about all the different things that I could do 124 00:06:02,280 --> 00:06:04,290 with that amount of money. But when I look at this and I 125 00:06:04,290 --> 00:06:07,610 see this number 65,000 and I see it growing all the time as I 126 00:06:07,610 --> 00:06:10,650 deposit more money, as I get paid more dividends and I see 127 00:06:10,650 --> 00:06:13,570 this compounding take place, it gives me more motivation. 128 00:06:13,810 --> 00:06:16,970 Instead of it being 65,000 I can't wait till I hit 100,000 129 00:06:16,970 --> 00:06:18,690 with it. I can't wait till this gets into 130 00:06:18,690 --> 00:06:21,770 the six figure range and that the dividends coming in are even 131 00:06:21,770 --> 00:06:24,770 bigger and bigger and now the dividends coming in, they are 132 00:06:24,770 --> 00:06:26,570 getting bigger and bigger and bigger. 133 00:06:26,570 --> 00:06:31,850 These dividends are no longer a dollar here, $0.50 there, $0.85 134 00:06:31,850 --> 00:06:33,350 here. These are pretty substantial 135 00:06:33,350 --> 00:06:35,390 dividends that I'm getting paid every single month. 136 00:06:35,750 --> 00:06:38,990 So far I've passed $8200 in gains. 137 00:06:39,190 --> 00:06:40,990 That's another landmark. Let's go and look at the 138 00:06:40,990 --> 00:06:43,150 activity feed and see what's going on with this account. 139 00:06:43,350 --> 00:06:46,710 If I go in here and I filter just by dividends, let's just 140 00:06:46,710 --> 00:06:51,630 look in the past two days, the 31st and the 1st, the past two 141 00:06:51,630 --> 00:06:55,510 days, two days ago, I got paid $28.00 from annually capital, 142 00:06:55,910 --> 00:07:01,180 $13 from JPMorgan Chase, $7.00 from LTC properties. $30.00 from 143 00:07:01,180 --> 00:07:04,660 New Residential Investment Corp, $6 from Toronto Dominion Bank. 144 00:07:04,940 --> 00:07:07,980 That's one day. In that one day I made what, 145 00:07:07,980 --> 00:07:14,380 8084 dollars, $85 and then the next day, November 1st, $27.00 146 00:07:14,380 --> 00:07:17,940 from AT&T, $13 from Verizon. The two telecoms they paid out 147 00:07:17,940 --> 00:07:20,220 at the same time, so Verizon and Telecom. 148 00:07:20,420 --> 00:07:23,460 That's another $41.00. That money since on the weekend 149 00:07:23,540 --> 00:07:26,220 it wasn't reinvested, it's in cash right there sitting there. 150 00:07:26,220 --> 00:07:29,870 $41 That's real money that My Portfolio is generating. 151 00:07:29,990 --> 00:07:33,110 So in the span of two days I was paid like $120.00 in dividends. 152 00:07:33,310 --> 00:07:35,950 And that money is the definition of passive income. 153 00:07:36,070 --> 00:07:38,390 I'm being paid that money by having ownership in these 154 00:07:38,390 --> 00:07:40,190 companies. They pay out their shareholders. 155 00:07:40,310 --> 00:07:42,390 They do that routinely. These are dividend growth 156 00:07:42,390 --> 00:07:44,590 companies and they're paying me for owning stock in those 157 00:07:44,590 --> 00:07:46,790 companies. Now this is pretty amazing stuff 158 00:07:46,790 --> 00:07:49,430 to see this money coming. And I can even go past two days 159 00:07:49,430 --> 00:07:52,910 and go back to the 23rd, the 18th, the 15th, the 7th. 160 00:07:53,070 --> 00:07:56,190 I mean, it's every few days I get these dividends coming in. 161 00:07:56,510 --> 00:07:58,270 And these aren't really small numbers anymore. 162 00:07:58,310 --> 00:08:02,550 A lot of these are 6-7 dollars, $14.00, thirteen dollars $5. 163 00:08:02,710 --> 00:08:05,230 When that's every couple of days it starts to add up. 164 00:08:05,550 --> 00:08:08,110 All this money is getting reinvested back in My Portfolio 165 00:08:08,430 --> 00:08:11,790 and it's helping me build up this number every week, week 166 00:08:11,790 --> 00:08:14,310 after week. This value is going up as a 167 00:08:14,310 --> 00:08:16,230 result of my dividends buying me more shares. 168 00:08:16,540 --> 00:08:18,660 And more importantly, my income is going up. 169 00:08:18,860 --> 00:08:21,100 If I look at this, you've all seen this graph before. 170 00:08:21,420 --> 00:08:23,300 This shows the amount of dividends I've earned month to 171 00:08:23,300 --> 00:08:25,140 month. You might notice the trend line. 172 00:08:25,220 --> 00:08:28,780 This continues to go up as My Portfolio grows, this number 173 00:08:28,780 --> 00:08:31,580 will go up regardless of whether the market goes up or down. 174 00:08:31,980 --> 00:08:35,100 As long as companies don't cut their dividends, this number 175 00:08:35,100 --> 00:08:38,690 will continue to go up. Last month I earned 161 dollars. 176 00:08:38,929 --> 00:08:41,450 I'll find out what I earn when M1 releases their statement 177 00:08:41,450 --> 00:08:44,010 later next week, and I'll let you guys know how much I earned 178 00:08:44,010 --> 00:08:46,050 in October. So we'll see this graph 179 00:08:46,050 --> 00:08:48,690 continually go up as I earn more and more dividends month to 180 00:08:48,690 --> 00:08:50,330 month. That is the whole goal of this 181 00:08:50,330 --> 00:08:52,650 portfolio. The awesome thing about it is it 182 00:08:52,650 --> 00:08:55,810 gives me a feeling now where normally you're just putting 183 00:08:55,810 --> 00:08:59,090 money in and then you're earning money, you're putting more money 184 00:08:59,090 --> 00:09:00,890 in, you're earning money. You have to work for your money 185 00:09:00,890 --> 00:09:02,970 and put more money in. And it feels like you're doing 186 00:09:02,970 --> 00:09:05,570 this all by yourself, feels like you're doing all the heavy 187 00:09:05,570 --> 00:09:08,330 lifting by yourself. But now it's like, hey, I have 188 00:09:08,330 --> 00:09:11,050 My Portfolio here. In the past three months, it's 189 00:09:11,050 --> 00:09:14,530 like a buddy helping me out earned dividends $500.00. 190 00:09:14,970 --> 00:09:18,770 So My Portfolio is now like a second helper helping me deposit 191 00:09:18,770 --> 00:09:21,170 money into My Portfolio. It's like, hey, you don't have 192 00:09:21,170 --> 00:09:24,410 to do everything now. Now that you have $65,000 193 00:09:24,410 --> 00:09:27,570 working for you, invested in these productive assets, we're 194 00:09:27,570 --> 00:09:28,730 going to help you out a little bit. 195 00:09:28,890 --> 00:09:31,570 So in the past three months, we've deposited $500. 196 00:09:31,950 --> 00:09:34,710 And those $500 bought more shares and now I'm going to earn 197 00:09:34,710 --> 00:09:36,190 dividends and interest from those shares. 198 00:09:36,550 --> 00:09:37,990 And that is the compounding effect. 199 00:09:38,230 --> 00:09:40,670 This is what everybody should be working towards. 200 00:09:40,670 --> 00:09:42,750 This is the goal that everybody wants to have. 201 00:09:42,830 --> 00:09:45,430 You want to have your money working for you. 202 00:09:45,590 --> 00:09:48,710 You can't spend your whole life working for yourself. 203 00:09:48,790 --> 00:09:51,400 There's no point in doing that. You're going to work so much 204 00:09:51,400 --> 00:09:53,680 harder than you need to get to the point where you have 205 00:09:53,680 --> 00:09:56,240 something else working for you. You can do that. 206 00:09:56,440 --> 00:09:59,920 We have the opportunity to go in to continually purchase 207 00:09:59,920 --> 00:10:01,880 productive shares of these different companies. 208 00:10:02,200 --> 00:10:04,960 And then those companies, the people that clock into them, the 209 00:10:04,960 --> 00:10:07,720 people that build these products and sell them, they're working 210 00:10:07,720 --> 00:10:10,160 for you now. They're literally employees of 211 00:10:10,160 --> 00:10:13,200 your company that you have share in and they're working for you. 212 00:10:13,400 --> 00:10:15,120 They disperse the earnings through dividends. 213 00:10:15,500 --> 00:10:17,100 And then you're not working all by yourself. 214 00:10:17,220 --> 00:10:21,060 In the past three months, I've had $500 added to My Portfolio 215 00:10:21,260 --> 00:10:23,940 that I did not have to work for. That's not as much as I've put 216 00:10:23,940 --> 00:10:26,660 in the past three months, but it's helpful, that much is 217 00:10:26,660 --> 00:10:28,460 helpful and that will continue to grow. 218 00:10:28,460 --> 00:10:31,180 That's the compounding effect. To realize how important this 219 00:10:31,180 --> 00:10:33,820 is, you can study how hard assets work. 220 00:10:34,060 --> 00:10:35,860 At a certain point with enough money. 221 00:10:35,900 --> 00:10:39,620 If this portfolio gained enough value, it would be a harder 222 00:10:39,620 --> 00:10:42,550 worker than I am. It would be more valuable in the 223 00:10:42,550 --> 00:10:46,030 marketplace than me as a human with all my skills and trade and 224 00:10:46,030 --> 00:10:49,030 experience can be. Meaning the yield of My 225 00:10:49,030 --> 00:10:52,790 Portfolio would be able to put out more money than I'm capable 226 00:10:52,790 --> 00:10:55,230 of earning in the marketplace. And My Portfolio and all 227 00:10:55,230 --> 00:10:58,910 practicality in the marketplace would be worth more than I am. 228 00:10:59,430 --> 00:11:01,750 To illustrate this point, I was looking at this video. 229 00:11:01,790 --> 00:11:04,950 This is particularly on a political social issue, wealth 230 00:11:04,950 --> 00:11:07,350 inequality. The illustrative point here is 231 00:11:07,350 --> 00:11:11,240 that people with a lot of money. Their assets are making money 232 00:11:11,320 --> 00:11:14,320 faster than other people are able to grow their wealth by 233 00:11:14,320 --> 00:11:17,240 simply working. That wages aren't being raised 234 00:11:17,240 --> 00:11:19,520 at the same rate that people with money are able to grow 235 00:11:19,520 --> 00:11:22,400 their assets. Person A has enough of a 236 00:11:22,400 --> 00:11:25,600 financial cushion to invest his savings and things like land, 237 00:11:25,720 --> 00:11:28,720 equipment, company stocks, maybe a master's degree. 238 00:11:28,880 --> 00:11:31,960 Over time, these investments yield a higher rate of return 239 00:11:32,080 --> 00:11:34,160 than the rate of growth of the economy in general. 240 00:11:34,160 --> 00:11:38,180 Which brings us to person B. Say he's working hard and making 241 00:11:38,180 --> 00:11:42,460 $100,000 year over year. The salary he gets for his labor 242 00:11:42,460 --> 00:11:45,980 alone won't increase fast enough to keep pace with the money. 243 00:11:45,980 --> 00:11:49,340 Person A is making off his investments year over year. 244 00:11:49,900 --> 00:11:53,620 Thus, wealth inequality. So do you see what they're 245 00:11:53,620 --> 00:11:56,140 saying in that video? Once your wealth gets to a 246 00:11:56,140 --> 00:11:59,940 certain value, once you have millions of dollars, your money 247 00:11:59,940 --> 00:12:02,660 will work harder than even a high income worker. 248 00:12:03,070 --> 00:12:06,510 That somebody that earns $100,000 a year, $150,000 a 249 00:12:06,510 --> 00:12:08,150 year, you have to be really educated. 250 00:12:08,150 --> 00:12:10,590 You have to be really valuable in the marketplace to earn that 251 00:12:10,590 --> 00:12:14,070 kind of salary. But Even so, somebody that has 252 00:12:14,070 --> 00:12:18,030 enough money, just their assets, if they invest it responsibly, 253 00:12:18,310 --> 00:12:21,430 the amount of passive income won't be $164. 254 00:12:21,590 --> 00:12:23,710 It'll be 10s of thousands of dollars. 255 00:12:23,990 --> 00:12:27,310 They earn more through their investments than high income 256 00:12:27,310 --> 00:12:29,190 earners do, going out and working every single day. 257 00:12:29,800 --> 00:12:31,200 That is what that video is stating. 258 00:12:31,640 --> 00:12:34,280 And of course it's coming out of through like a societal the 259 00:12:34,280 --> 00:12:36,320 social impact of wealth inequality, right? 260 00:12:36,640 --> 00:12:39,200 But I look at that video and I go, well, I have no control over 261 00:12:39,200 --> 00:12:41,000 wealth inequality. I can't really do anything to 262 00:12:41,000 --> 00:12:43,120 solve that issue, right? I'll leave that to other people. 263 00:12:43,480 --> 00:12:46,880 But I look at it and I say, what can I do to get more on that 264 00:12:46,880 --> 00:12:49,240 side where I don't have to work for everything that I make? 265 00:12:49,480 --> 00:12:53,000 What can I do to put my family in a situation where we have a 266 00:12:53,000 --> 00:12:56,080 lot of wealth that works for us and we don't have to be beholden 267 00:12:56,160 --> 00:12:59,000 to our employer and to other people for every dime that we 268 00:12:59,000 --> 00:13:00,870 get? That seems like a much more 269 00:13:00,870 --> 00:13:03,710 preferable situation to be in, and I think it's one that the 270 00:13:03,710 --> 00:13:06,430 most people can be in. I see this is a completely 271 00:13:06,430 --> 00:13:09,550 commonly shared goal. Over the past month I've had so 272 00:13:09,550 --> 00:13:11,470 many emails I can't even respond to them all. 273 00:13:11,510 --> 00:13:14,750 But I know for one thing for certain, this goal of generating 274 00:13:14,750 --> 00:13:17,870 passive income, of not having to work for every single dime you 275 00:13:17,870 --> 00:13:22,190 make, is a commonly shared goal. I have so many emails from 276 00:13:22,230 --> 00:13:26,350 everybody, from white people, black people, Hispanics, Asian 277 00:13:26,350 --> 00:13:29,030 Indian people from Europe and Canada from the US. 278 00:13:29,460 --> 00:13:33,020 Every single age, young people that are 17 and 18 and just 279 00:13:33,020 --> 00:13:34,820 learning about this, that are getting an early start. 280 00:13:35,060 --> 00:13:38,060 People that are in their 50s and 60s that are just starting to 281 00:13:38,060 --> 00:13:41,820 invest and everybody in between. This is something that everybody 282 00:13:41,820 --> 00:13:44,420 wants for themselves and for their family to be able to grow 283 00:13:44,420 --> 00:13:46,300 wealth, to be able to generate passive income. 284 00:13:46,690 --> 00:13:50,050 To not have to be concerned about being financially stable 285 00:13:50,050 --> 00:13:52,690 in the future and the goal of this channel is to be 286 00:13:52,690 --> 00:13:55,730 illustrative of a specific way to do that that I don't think 287 00:13:55,730 --> 00:13:58,530 has a large bar to entry. The stock market is not an 288 00:13:58,530 --> 00:14:01,850 intimidating thing to invest in. You literally just have to look 289 00:14:01,850 --> 00:14:04,050 at it as look at these great companies. 290 00:14:04,090 --> 00:14:06,610 Home Depot, do I want to own a piece of Home Depot? 291 00:14:06,930 --> 00:14:09,130 Do I think it's selling at a good price of what it was 292 00:14:09,130 --> 00:14:12,070 historically? And even if picking individual 293 00:14:12,070 --> 00:14:14,910 companies seems intimidating, that's something that's scary to 294 00:14:14,910 --> 00:14:17,750 you. You can pick ETF's and a lot of 295 00:14:17,750 --> 00:14:20,710 them accomplish the same goals. You can find ETF's that will 296 00:14:20,710 --> 00:14:22,790 invest in the same type of company that you want to invest 297 00:14:22,790 --> 00:14:24,310 in. I'm doing that with my 298 00:14:24,310 --> 00:14:26,630 retirement account. So this is something that 299 00:14:26,630 --> 00:14:28,910 everybody can do, everybody should do. 300 00:14:28,950 --> 00:14:31,630 In my opinion, that will lead to a lot more stability and 301 00:14:31,630 --> 00:14:33,630 financial freedom. I'm a huge advocate of 302 00:14:33,630 --> 00:14:36,070 investing. I think that everybody should do 303 00:14:36,070 --> 00:14:37,850 it. The different types of investing 304 00:14:37,850 --> 00:14:39,850 you can do, whether you're investing in real estate and 305 00:14:39,850 --> 00:14:42,450 going out and buying rental properties, whether investing in 306 00:14:42,450 --> 00:14:45,490 growth companies or index funds or dividend stocks, whatever 307 00:14:45,490 --> 00:14:47,450 you're doing, I think all of that is better than nothing. 308 00:14:47,730 --> 00:14:51,490 There's only a few styles of quote, UN quote investing that I 309 00:14:51,490 --> 00:14:54,370 actively discourage people to do, that I do not think is a 310 00:14:54,370 --> 00:14:56,210 good idea. And I know there's a lot of 311 00:14:56,210 --> 00:14:58,650 people that disagree with this. There's a lot of people that do 312 00:14:58,650 --> 00:15:01,210 these styles of investing that say that I don't know what I'm 313 00:15:01,210 --> 00:15:03,210 talking about or you know, I I don't know how to do it 314 00:15:03,210 --> 00:15:06,130 personally, so I shouldn't talk about it, right? 315 00:15:06,590 --> 00:15:08,710 I'm talking about day trading and swing trading. 316 00:15:09,150 --> 00:15:12,910 I think that most people should not day trade or swing trade. 317 00:15:13,270 --> 00:15:16,510 It is a huge waste of time. I think that has potential to 318 00:15:16,510 --> 00:15:19,070 lose a lot of money. I think a lot of the industry 319 00:15:19,070 --> 00:15:21,830 around these type of tools of buying options, day trading and 320 00:15:21,830 --> 00:15:25,070 swing trading, a lot of times they're centered around greed, 321 00:15:25,430 --> 00:15:27,830 just flat out greed. People wanting to make a lot of 322 00:15:27,830 --> 00:15:30,710 money in a very short amount of time that they don't actually 323 00:15:30,710 --> 00:15:32,110 want to just put their money to work. 324 00:15:32,610 --> 00:15:34,010 They want to simply win the lottery. 325 00:15:34,090 --> 00:15:36,970 They want to win an easy bet. I'll show you one video of 326 00:15:36,970 --> 00:15:39,850 somebody that this did not turn out well for that they got 327 00:15:39,850 --> 00:15:42,290 themselves into a lot of financial trouble for trying to 328 00:15:42,290 --> 00:15:44,770 make quick money. This is a video posted on 329 00:15:44,770 --> 00:15:48,570 investing forum and he's using the Robin Hood app and what he 330 00:15:48,570 --> 00:15:52,330 did this this video shows it has him on the the top of it 331 00:15:52,330 --> 00:15:55,410 overlaid on the Robin Hood app. And what he did was he bought 332 00:15:55,450 --> 00:15:59,100 puts on Apple. And he did so using a lot of 333 00:15:59,100 --> 00:16:01,340 leverage. Now, there's so much risk 334 00:16:01,340 --> 00:16:03,220 involved in there. The fact that he bought this on 335 00:16:03,220 --> 00:16:07,020 leverage means that that not only can he lose his own money, 336 00:16:07,020 --> 00:16:10,580 which he has about $7000 of his own money in this, but he has 337 00:16:10,580 --> 00:16:13,340 the opportunity to lose other people's money, which would make 338 00:16:13,340 --> 00:16:15,740 him a debtor, right? So he used margin, He lended 339 00:16:15,740 --> 00:16:18,700 money from somebody else, he bought puts on Apple, and then 340 00:16:18,700 --> 00:16:21,780 he's recording it live to see the result of when Apple opens 341 00:16:21,780 --> 00:16:26,810 up and which way it's trading. So let's just go ahead and look 342 00:16:26,810 --> 00:16:31,370 at it right there where it says total return 6006 thousand 343 00:16:31,370 --> 00:16:34,290 $900.13 percent up. That's where he's at right now. 344 00:16:35,130 --> 00:16:38,930 But we can continue to watch how this goes and this is unfolding 345 00:16:39,210 --> 00:16:40,890 live. This is like a few seconds this 346 00:16:40,890 --> 00:16:59,380 happens. Apple starts to trade upwards, 347 00:17:00,460 --> 00:17:03,060 which if you buy puts you're hoping that it starts to trade 348 00:17:03,060 --> 00:17:06,220 downwards. Look at that. 349 00:17:10,020 --> 00:17:14,020 Do you hear that guttural sound? That is the sound of somebody 350 00:17:14,020 --> 00:17:17,099 that just lost $40,000 in about 10 seconds. 351 00:17:18,900 --> 00:17:21,740 I keep playing it here and you can even see what direction it 352 00:17:21,740 --> 00:17:22,500 goes. Is that negative? 353 00:17:22,970 --> 00:17:29,770 42,000 Now look at that line one week straight down because he 354 00:17:29,770 --> 00:17:32,210 bet the wrong way on it. Now if this went the other 355 00:17:32,210 --> 00:17:34,450 direction, he would have made a lot of money, right? 356 00:17:34,450 --> 00:17:38,490 And he would have posted online about how easy options are, how 357 00:17:38,530 --> 00:17:41,210 easy money is. He would have lured more people 358 00:17:41,210 --> 00:17:44,370 in the following his same advice, and more people that are 359 00:17:44,410 --> 00:17:48,170 unsuspecting of the downside would go and continue to try to 360 00:17:48,290 --> 00:17:50,770 replicate the same thing and probably lose a lot of money in 361 00:17:50,770 --> 00:17:53,040 the process. But I think it's important for 362 00:17:53,040 --> 00:17:55,560 people to see this side of it. When you go into these type of 363 00:17:55,560 --> 00:17:57,720 risky traits, this is the type of thing that you're venturing 364 00:17:57,720 --> 00:18:00,800 into. What you're doing here is not 365 00:18:00,800 --> 00:18:03,040 the same thing. Buying shares in these companies 366 00:18:03,040 --> 00:18:05,000 is simply just buying a part of a company. 367 00:18:05,240 --> 00:18:08,200 What he did in that video to lose a lot of money is he made 368 00:18:08,200 --> 00:18:10,360 bets. He gambled, he bet on the price 369 00:18:10,360 --> 00:18:13,320 moving a certain direction at a certain point in time, and he 370 00:18:13,320 --> 00:18:15,120 gambled wrong. He just flipped the coin with 371 00:18:15,120 --> 00:18:16,950 his money. And he used leverage to do it in 372 00:18:16,950 --> 00:18:19,750 that situation which was just playing with fire, but he bet in 373 00:18:19,750 --> 00:18:22,030 the wrong direction. You're not doing the same thing 374 00:18:22,030 --> 00:18:24,030 here. Owning shares and companies is a 375 00:18:24,030 --> 00:18:26,670 very long term thing. This is how you grow your money 376 00:18:26,670 --> 00:18:28,990 over time. Now a few things I just wanted 377 00:18:28,990 --> 00:18:31,910 to mention in the news. First of all, AT&T which is one 378 00:18:31,910 --> 00:18:34,870 of my larger holdings in My Portfolio, one of the best 379 00:18:34,870 --> 00:18:36,710 dividend payers. It just laid out another 380 00:18:36,710 --> 00:18:39,230 three-year plan of how they're going to pay down a lot of debt. 381 00:18:39,670 --> 00:18:42,110 Which makes their dividend. They're paying a lot safe right 382 00:18:42,110 --> 00:18:44,070 now. So from previously, just a 383 00:18:44,070 --> 00:18:46,390 couple months ago, their dividend is now safer with this 384 00:18:46,390 --> 00:18:48,990 plan that they've laid out. They've settled some disputes 385 00:18:48,990 --> 00:18:53,310 with an activist investor and they unveiled HBO Max, which is 386 00:18:53,310 --> 00:18:55,750 the new streaming bundle that they put together. 387 00:18:55,750 --> 00:18:57,790 They. Once only, Excitement about. 388 00:19:01,390 --> 00:19:03,190 Are you ready to see? Something different? 389 00:19:06,590 --> 00:19:08,510 This is the moment I've been searching for. 390 00:19:10,380 --> 00:19:11,340 Ready. Ready. 391 00:19:11,620 --> 00:19:14,940 Take the red pill and I show you how deep the rabbit hole go. 392 00:19:19,420 --> 00:19:21,220 All right boys, let's go launch this rocket. 393 00:19:28,420 --> 00:19:30,020 That's their little trailer for the service. 394 00:19:30,020 --> 00:19:31,460 Really. The nice thing about this is 395 00:19:31,460 --> 00:19:33,460 that HBO is already $15.00 a month. 396 00:19:33,620 --> 00:19:36,340 That's what you would pay if you want HBO's content right now. 397 00:19:36,850 --> 00:19:39,290 But pretty much all they've done is gathered together a lot of 398 00:19:39,290 --> 00:19:41,890 other content from a lot of different networks and different 399 00:19:41,890 --> 00:19:44,770 shows and movies and TV series bundled that together. 400 00:19:44,770 --> 00:19:47,250 Called it HBO Max and said the pricing is going to remain the 401 00:19:47,250 --> 00:19:51,290 same and current HBO subscribers are going to just continue to 402 00:19:51,290 --> 00:19:54,130 pay $15.00 a month, the same thing they have except they're 403 00:19:54,130 --> 00:19:55,610 going to unlock all this new content. 404 00:19:55,730 --> 00:19:57,680 So. I think a pretty good offering. 405 00:19:57,680 --> 00:19:59,960 They know that they can't charge more because now all of a sudden 406 00:19:59,960 --> 00:20:02,320 $15.00 a month is a lot of money for a streaming service. 407 00:20:02,320 --> 00:20:04,880 When you have Disney and Apple both coming out with $5 a month, 408 00:20:05,120 --> 00:20:07,440 you don't want to charge too much more than $15.00 a month. 409 00:20:07,440 --> 00:20:09,200 So that's a pretty good update from AT&T. 410 00:20:09,560 --> 00:20:11,880 The next thing I wanted to touch on real quick is the Fed just 411 00:20:11,880 --> 00:20:13,560 cut rates for the third time this year. 412 00:20:13,600 --> 00:20:15,800 I think it's going to be the only time that they cut rates 413 00:20:15,800 --> 00:20:18,600 this year and possibly next year. 414 00:20:19,310 --> 00:20:22,030 I know that the Fed usually likes to get its business done 415 00:20:22,150 --> 00:20:25,150 before election years, so they're not looking to fiddle 416 00:20:25,150 --> 00:20:28,830 with the economy 2020, because Jerome Powell does not want to 417 00:20:28,830 --> 00:20:31,870 be blamed for changing the economy, messing with it and 418 00:20:31,870 --> 00:20:33,310 changing the direction of the elections. 419 00:20:33,630 --> 00:20:36,310 So he got this rate cut in. He thinks that he set the 420 00:20:36,310 --> 00:20:39,310 economy up good for 2020. And I think that they're going 421 00:20:39,310 --> 00:20:40,910 to want to leave it as much as they can. 422 00:20:41,390 --> 00:20:43,910 If it shows signs that things are still not going great, 423 00:20:43,910 --> 00:20:45,350 they're not going in the direction they want. 424 00:20:45,710 --> 00:20:49,680 They could do another cut in 2020, but he's tried to say that 425 00:20:49,680 --> 00:20:52,840 he doesn't want to do that. So along with the rate cut as 426 00:20:52,840 --> 00:20:57,520 predicted, we have Robin Hood now offering 1.8% APY. 427 00:20:57,760 --> 00:21:00,520 Just before this rate cut it was 2.05%. 428 00:21:00,840 --> 00:21:02,880 They're forced to take that down a quarter percentage. 429 00:21:03,160 --> 00:21:06,320 Now they have pushed down the cash management to 1.8%. 430 00:21:06,480 --> 00:21:09,880 That's in line right now with where Allied Bank is at 1.8%. 431 00:21:09,880 --> 00:21:12,600 So we'll see if Allied Bank will move theirs down further. 432 00:21:12,600 --> 00:21:15,280 They haven't after this rate cut, but there's a lot of these 433 00:21:15,320 --> 00:21:17,440 high interest banks. They get affected by this 434 00:21:17,440 --> 00:21:19,960 downward pressure of rates. So we'll see which ones are able 435 00:21:19,960 --> 00:21:21,400 to hang on to their higher interest rates. 436 00:21:21,960 --> 00:21:24,640 In the last bit of news I want to mention is Bill Ackman. 437 00:21:24,840 --> 00:21:26,720 This is an activist investor, a billionaire. 438 00:21:27,120 --> 00:21:29,800 He said that he believes we work is worth 0. 439 00:21:29,960 --> 00:21:33,120 That was what he said in this Financial Times report and part 440 00:21:33,120 --> 00:21:35,400 of it he says, I just want to quote one part of this article. 441 00:21:35,400 --> 00:21:36,730 I think it's kind of funny quote. 442 00:21:36,810 --> 00:21:39,850 I think we work has a pretty high probability of being zero 443 00:21:39,890 --> 00:21:42,570 for the equity as well for the debt, Ackman, founder of hedge 444 00:21:42,570 --> 00:21:45,290 fund Pershing Square Capital Management, said in a Robin Hood 445 00:21:45,290 --> 00:21:47,970 interview conference on Tuesday, according to the Financial 446 00:21:47,970 --> 00:21:50,010 Times. Quote As someone who has put 447 00:21:50,010 --> 00:21:52,930 good money after bad, I think this looks like putting good 448 00:21:52,930 --> 00:21:55,590 money after bad. He's saying SoftBank care is 449 00:21:55,590 --> 00:21:58,790 making a mistake in we work, and I think I agree with them. 450 00:21:58,790 --> 00:22:01,150 I bet at this point SoftBank just doesn't want to lose the 451 00:22:01,150 --> 00:22:04,190 deal. SoftBank is a Japanese bank, and 452 00:22:04,190 --> 00:22:06,950 I don't think that SoftBank wanted to see one of its 453 00:22:06,950 --> 00:22:10,630 investments go this bad and get purchased by JP Morgan Chase or 454 00:22:10,830 --> 00:22:12,550 Bank of America or another American bank. 455 00:22:12,590 --> 00:22:14,990 I think that that would look terrible for SoftBank. 456 00:22:14,990 --> 00:22:17,430 So to me, it seemed like they just wanted to save face. 457 00:22:17,430 --> 00:22:19,510 They wanted to keep holding. We work and keep investing in 458 00:22:19,510 --> 00:22:21,350 it, and they're going to chase that loss no matter what. 459 00:22:21,350 --> 00:22:23,230 They're going to keep trying to make that company profitable. 460 00:22:23,230 --> 00:22:25,700 So we'll see where the valuation goes in the future. 461 00:22:25,900 --> 00:22:28,580 And if SoftBank really is able to turn, we work profitable. 462 00:22:29,340 --> 00:22:32,980 OK, let's get to some questions. joseph.carlsonshow@gmail.com 463 00:22:33,180 --> 00:22:36,740 joseph.carlsonshow@gmail.com. The first one says, hey Joe, 464 00:22:37,020 --> 00:22:39,300 dude, First of all, thank you for sharing your experiences on 465 00:22:39,300 --> 00:22:40,980 YouTube. It's been a huge blessing just 466 00:22:40,980 --> 00:22:42,980 listening to you and applying different principles in my 467 00:22:42,980 --> 00:22:45,580 financial life. I wanted to ask you for advice 468 00:22:45,580 --> 00:22:48,020 since I don't think you've made a video addressing this yet. 469 00:22:48,340 --> 00:22:51,650 I'm 25 and I want to open my Roth IRA but not sure if I 470 00:22:51,650 --> 00:22:54,090 should do it through a robo advisor or through a financial 471 00:22:54,090 --> 00:22:56,650 advisor. I contacted a local financial 472 00:22:56,650 --> 00:23:02,130 advisor and his fees are .6% for the 1st, 50,000.55% between 50 473 00:23:02,130 --> 00:23:06,290 and 100,000 and .5% after that. He uses Voyage where there are 474 00:23:06,290 --> 00:23:09,130 no transaction fees, it's just his recordkeeping fees. 475 00:23:09,130 --> 00:23:10,810 Hope you read this. Thank you again. 476 00:23:11,050 --> 00:23:13,090 So you're wanting to know whether you should use a 477 00:23:13,090 --> 00:23:18,410 financial advisor that will charge you .6 percent, .55% of 478 00:23:18,410 --> 00:23:21,130 your your money that he's managing every single year. 479 00:23:21,130 --> 00:23:24,570 So like if you had $100,000, you take roughly 550 bucks a year. 480 00:23:25,370 --> 00:23:27,330 That's not really expensive management fee. 481 00:23:27,370 --> 00:23:29,890 You know this this financial advisor that you found, it 482 00:23:29,890 --> 00:23:31,930 doesn't sound like he's trying to rip you off or anything. 483 00:23:32,010 --> 00:23:33,650 A lot of them. I think the normal pricing, 484 00:23:33,650 --> 00:23:35,970 somewhere around 1 to 2% somewhere. 485 00:23:35,970 --> 00:23:38,290 They're usually like a percent and 1/2 is what they'll charge 486 00:23:38,290 --> 00:23:41,890 for financial advisory. Would I do that? 487 00:23:42,170 --> 00:23:46,410 No, I wouldn't give my money to someone else to manage for free. 488 00:23:46,860 --> 00:23:49,460 So if you didn't charge anything for it, it was just a free 489 00:23:49,460 --> 00:23:51,580 service. I wouldn't do that because I I 490 00:23:51,580 --> 00:23:53,860 could pick a robo advisor and I don't really do that. 491 00:23:53,860 --> 00:23:57,460 I pick M1 Finance, which can kind of act like a robo advisor. 492 00:23:57,460 --> 00:23:59,700 But right now I'm not taking any robo advice. 493 00:23:59,700 --> 00:24:02,780 I'm just using it as a broker for free to invest, but I'm 494 00:24:02,780 --> 00:24:06,740 picking out the investments. So I like being in control of 495 00:24:06,740 --> 00:24:09,260 the investment decisions I'm making, not some kind of 496 00:24:09,260 --> 00:24:12,820 secondhand control where I say, yeah, I want a portfolio that's 497 00:24:12,820 --> 00:24:15,380 less risky and then they construct A portfolio that's 498 00:24:15,380 --> 00:24:17,940 less risky. I like literally having control 499 00:24:17,940 --> 00:24:20,260 of every single holding I purchase and the exact 500 00:24:20,260 --> 00:24:23,620 percentage of that holding. So that's the level of control I 501 00:24:23,620 --> 00:24:25,300 like. For people that don't want that 502 00:24:25,300 --> 00:24:27,500 much control, you don't want to really focus on it. 503 00:24:27,500 --> 00:24:30,100 I think that this is a pretty decent option for people. 504 00:24:30,140 --> 00:24:32,260 You know, there there is a place for financial advice. 505 00:24:32,260 --> 00:24:33,980 Some people are terrible with finance. 506 00:24:34,100 --> 00:24:36,540 Some people would be better off just handing it over to somebody 507 00:24:36,540 --> 00:24:38,780 else. But no, I don't think the fee is 508 00:24:38,780 --> 00:24:40,140 outrageous here. I think it's an option you could 509 00:24:40,140 --> 00:24:41,900 choose. If it were me, I would just go 510 00:24:41,900 --> 00:24:44,670 with the robo advisor. I think that what financial 511 00:24:44,670 --> 00:24:48,270 advisors typically do for people is exactly what robo advisors 512 00:24:48,270 --> 00:24:49,470 do. They'd say, do you want a 513 00:24:49,470 --> 00:24:51,430 conservative? Do you want a aggressive 514 00:24:51,430 --> 00:24:52,990 portfolio? Do you want to be invested in 515 00:24:52,990 --> 00:24:56,590 stocks or bonds or real estate? And then they just invest in it. 516 00:24:56,750 --> 00:24:59,110 And you can do the exact same thing using a robo advisor. 517 00:24:59,230 --> 00:25:02,470 You can literally just pick out what type of portfolio you want, 518 00:25:02,750 --> 00:25:04,910 put your money in, and then you skip the fees. 519 00:25:04,910 --> 00:25:07,030 You don't have to pay the yearly fees for hundreds of dollars. 520 00:25:07,380 --> 00:25:10,260 So I think in my situation I'd pick the robo advisor. 521 00:25:10,300 --> 00:25:12,820 But if you feel more comfortable being able to talk to somebody 522 00:25:12,820 --> 00:25:15,620 and have somebody there to support you, being able to have 523 00:25:15,620 --> 00:25:18,140 a human support instead of just instead of just having an 524 00:25:18,140 --> 00:25:20,100 automated, you could go with the financial advisor. 525 00:25:20,100 --> 00:25:22,980 I don't think .55% is rip off by any means. 526 00:25:23,540 --> 00:25:25,100 Next questions from Instagram, he says. 527 00:25:25,100 --> 00:25:26,780 Hey man, question about your YouTube channel. 528 00:25:26,860 --> 00:25:29,140 What do you find it interesting yourself to create a video 529 00:25:29,140 --> 00:25:32,460 regarding the Democratic slash Republican portfolio with 530 00:25:32,500 --> 00:25:35,130 upcoming elections? I think it would be super cool 531 00:25:35,130 --> 00:25:37,530 and also super important to understand the impact that each 532 00:25:37,530 --> 00:25:39,410 party has on the market. Let me know your thoughts. 533 00:25:39,770 --> 00:25:42,170 Yeah, I actually thought that this is an interesting idea. 534 00:25:42,170 --> 00:25:46,370 So you're saying to look at how you would manipulate or 535 00:25:46,370 --> 00:25:49,810 construct A portfolio based on which party gets elected. 536 00:25:51,050 --> 00:25:53,090 I could look at that. I would certainly want to wait 537 00:25:53,170 --> 00:25:56,610 until we get closer to the actual elections before trying 538 00:25:56,610 --> 00:25:58,810 to predict who's going to win on the Democrat side and be the 539 00:25:58,810 --> 00:26:00,660 front runner. Right now, there's like 10 540 00:26:00,660 --> 00:26:02,820 people running, so it's impossible to even say what 541 00:26:02,820 --> 00:26:05,740 Financial Policy will win out, what candidate will win. 542 00:26:05,980 --> 00:26:07,820 And then there's a lot of things you have to look at because 543 00:26:07,980 --> 00:26:11,500 certain candidates in the primaries, they say very drastic 544 00:26:11,500 --> 00:26:14,580 things to top each other, right? Democrats, they're always trying 545 00:26:14,580 --> 00:26:17,180 to one up each other on the different financial policies, on 546 00:26:17,180 --> 00:26:19,500 the different social policies because they need to make a lot 547 00:26:19,500 --> 00:26:21,860 of noise to get noticed in the field if you're competing with 548 00:26:21,860 --> 00:26:23,700 10 other people. And that's how it is on both 549 00:26:23,700 --> 00:26:25,100 sides. Republicans were running this 550 00:26:25,100 --> 00:26:26,980 year against an incumbent Democrat. 551 00:26:27,260 --> 00:26:30,420 That'd be the same thing. But right now you have to give 552 00:26:30,420 --> 00:26:32,340 it some time because when they get in the generals, they'll 553 00:26:32,340 --> 00:26:35,220 have to have a broader appeal. Then they might change some of 554 00:26:35,220 --> 00:26:38,060 the rhetoric and the policies that they're saying and you 555 00:26:38,060 --> 00:26:41,260 know, we'll see what type of financial policies and platforms 556 00:26:41,260 --> 00:26:42,780 went out from the Democrat party. 557 00:26:42,980 --> 00:26:45,940 As far as tailoring A portfolio, I do think that there's certain 558 00:26:45,940 --> 00:26:48,380 industries that would be hit harder and ones to potentially 559 00:26:48,380 --> 00:26:51,020 be cautious of. You have Medicare for all, so 560 00:26:51,020 --> 00:26:52,420 that could be a target with healthcare. 561 00:26:52,820 --> 00:26:54,860 So there might be some adjustments you could make to 562 00:26:54,860 --> 00:26:57,660 your portfolio to insulate those type of risks. 563 00:26:57,740 --> 00:26:59,300 And I think that you'd see that play out. 564 00:27:00,100 --> 00:27:02,740 What would happen is investors would look at the probability of 565 00:27:02,740 --> 00:27:05,740 that person winning the election and then when they do win, the 566 00:27:05,740 --> 00:27:08,300 probability of them getting this different type of legislation, 567 00:27:08,300 --> 00:27:10,540 these policies passed. And then if they did get the 568 00:27:10,540 --> 00:27:12,700 policies passed, how they would actually affect those 569 00:27:12,700 --> 00:27:14,700 industries. You'd have a lot of banks and 570 00:27:14,700 --> 00:27:16,580 hedge funds do that kind of studying. 571 00:27:16,580 --> 00:27:18,700 Once we get closer to the elections, then then they'll 572 00:27:18,700 --> 00:27:21,460 judge the risk of holding those companies or those sectors. 573 00:27:21,460 --> 00:27:23,940 So I will probably do something like this. 574 00:27:24,220 --> 00:27:26,420 It'll just be closer when we actually see who's going to win 575 00:27:26,420 --> 00:27:29,180 out from the Democrat side and what their policies end up being 576 00:27:29,260 --> 00:27:31,700 after they make it through the primaries because a lot can 577 00:27:31,700 --> 00:27:32,860 change over the course of a year. 578 00:27:32,860 --> 00:27:35,860 So interesting thought there. I'll probably follow up on this 579 00:27:35,860 --> 00:27:38,860 more. Amelia says hi Joseph News has 580 00:27:38,860 --> 00:27:40,980 definitely been interesting these past couple of weeks and I 581 00:27:40,980 --> 00:27:43,180 can't wait to see how the markets react and how your 582 00:27:43,180 --> 00:27:46,180 portfolios grow. My question is regarding M1 583 00:27:46,180 --> 00:27:48,140 Finance and reading the statements and then inputting 584 00:27:48,140 --> 00:27:50,630 that data into a dividend tracker, I'm not exactly sure 585 00:27:50,630 --> 00:27:52,550 how to do it. So any advice would be great. 586 00:27:52,550 --> 00:27:54,550 Thank you. By the way, with some of the 587 00:27:54,550 --> 00:27:57,110 recent topics regarding Blizzard, does this mean that 588 00:27:57,110 --> 00:27:59,630 you have an interest in esports? What do you think about it and 589 00:27:59,630 --> 00:28:02,430 do you think it will be comparable and profitable to 590 00:28:02,430 --> 00:28:04,270 traditional sports in the near future? 591 00:28:04,350 --> 00:28:07,390 Keep up the great work. The first part of your question 592 00:28:07,390 --> 00:28:11,790 there on inputting that information from M1 Finance into 593 00:28:11,830 --> 00:28:15,270 the dividend tracker. You go to settings on M1 594 00:28:15,270 --> 00:28:17,590 Finance, then you go to Documents and then you select 595 00:28:17,590 --> 00:28:20,430 the statement for the month that you're looking to input. 596 00:28:20,670 --> 00:28:23,310 Typically, the statement will be released like four or five days 597 00:28:23,310 --> 00:28:25,150 into the month. The previous month will be 598 00:28:25,150 --> 00:28:27,110 released. So you go into that statement on 599 00:28:27,110 --> 00:28:29,430 the top left, it'll have a section that says you're 600 00:28:29,430 --> 00:28:32,630 starting portfolio value, the ending portfolio value, and the 601 00:28:32,630 --> 00:28:34,470 amount of dividends earned during that time period. 602 00:28:34,750 --> 00:28:36,670 That's where I get all the information that I plug into the 603 00:28:36,670 --> 00:28:38,350 dividend tracker. Very simple. 604 00:28:38,350 --> 00:28:39,870 You just download those documents every month. 605 00:28:39,910 --> 00:28:42,330 You look at the top left and look at those 3 bits of 606 00:28:42,330 --> 00:28:44,890 information and plug that in. Now the second part of your 607 00:28:44,890 --> 00:28:47,850 question where you say, you know, by the way, the recent 608 00:28:47,850 --> 00:28:50,450 topics regarding Blizzard, do I have an interest in esports and 609 00:28:50,450 --> 00:28:52,570 do I think it will be as profitable as traditional 610 00:28:52,570 --> 00:28:55,130 sports? So yes, I do have an interest in 611 00:28:55,210 --> 00:28:57,370 esports. I think it's a just a really 612 00:28:57,370 --> 00:28:59,930 interesting industry. It's definitely growing. 613 00:29:00,210 --> 00:29:03,770 The amount of money made by gaming companies by esports, all 614 00:29:03,770 --> 00:29:07,250 of that combined is enormous and it's growing really rapidly. 615 00:29:07,250 --> 00:29:09,290 It's growing much faster than traditional sports. 616 00:29:09,290 --> 00:29:13,080 So there's a lot of and there's a lot of opportunity there. 617 00:29:13,360 --> 00:29:16,240 The reason that I haven't invested in it so far is because 618 00:29:16,720 --> 00:29:19,840 it's still figuring itself out. It's very fractured. 619 00:29:20,240 --> 00:29:23,320 Sometimes one company will come out with a really hit game that 620 00:29:23,320 --> 00:29:25,280 will get a lot of the attention. It is. 621 00:29:25,280 --> 00:29:27,920 It's really difficult to guess what those are going to be. 622 00:29:28,080 --> 00:29:30,760 I just haven't found a really good route in investing in this. 623 00:29:30,760 --> 00:29:33,160 All of it is fractured between multiple companies. 624 00:29:33,360 --> 00:29:35,240 Rarely are they stable dividend payers. 625 00:29:35,240 --> 00:29:37,800 They don't really fit well with the investing philosophy that 626 00:29:37,800 --> 00:29:39,550 I've had. So even though I think that 627 00:29:39,550 --> 00:29:41,470 there's value there, there's potential places to make good 628 00:29:41,470 --> 00:29:43,630 returns there. It's something that so far I've 629 00:29:43,630 --> 00:29:45,350 just avoided out of My Portfolio. 630 00:29:45,630 --> 00:29:47,910 I wouldn't feel comfortable just picking one of these companies, 631 00:29:48,110 --> 00:29:50,670 putting in My Portfolio and dollar cost averaging into it 632 00:29:50,910 --> 00:29:52,670 without really paying too much attention to it. 633 00:29:53,030 --> 00:29:55,430 They're more really active investments that I'd have to 634 00:29:55,430 --> 00:29:57,950 really keep up on the news to see what's going on with them. 635 00:29:57,950 --> 00:29:59,950 So that's the reason I haven't invested in it. 636 00:29:59,950 --> 00:30:02,750 But I do think that esports is going to become bigger and 637 00:30:02,750 --> 00:30:04,670 bigger. Eventually, I think it might 638 00:30:04,710 --> 00:30:07,900 surpass traditional sports because there's a lot of people 639 00:30:07,900 --> 00:30:10,660 interested in video games, I think more so than traditional 640 00:30:10,660 --> 00:30:12,660 sports at this point. All right, well, that's going to 641 00:30:12,660 --> 00:30:15,740 be it for me if you guys haven't like the video, subscribe to the 642 00:30:15,740 --> 00:30:17,260 channel, share it with some friends. 643 00:30:17,500 --> 00:30:20,020 We're all trying to invest, build up our wealth over time. 644 00:30:20,060 --> 00:30:22,620 This is the whole goal of it. If you guys want to support the 645 00:30:22,620 --> 00:30:25,700 channel more directly as well as talk to me in between videos, 646 00:30:25,900 --> 00:30:28,180 you can join a Discord. There's a Patreon that you sign 647 00:30:28,180 --> 00:30:30,660 up for and then it gives you access to a Discord channel and 648 00:30:30,940 --> 00:30:32,660 there's a lot of people there. We've been having some fun 649 00:30:32,660 --> 00:30:35,060 discussions, so you can consider that as well. 650 00:30:35,140 --> 00:30:36,980 Otherwise, I will talk to you guys next time.