We are sorry, deeply and truly sorry.
That's the whole purpose of these hearings.
This, of course, is Dennis Muhlenberg.
He's the CEO of Boeing, which is one of the biggest dividend
paying companies in the world. Behind them is a lot of the
victims, families of these two plane crashes.
He's in front of Congress to show that Boeing is a company is
sorry. That is the main thing that he
has to convince them of. He needs to show that Boeing
cares about the victims, that they care about the loss of
life. That they're not just focused on
company profits or getting their stock prices up.
The worst thing that he could do in this hearing is come off as
uncaring, as robotic or unsympathetic or detached from
what happened. If he comes off that way, this
hearing would be a total disaster.
If he shows true contrition and sorrow for the accidents, then
he's going to come out OK on this.
That is what this whole thing comes down to, Congress.
They're not going to solve anything with the airplanes.
They're not going to write new laws.
They don't understand the aviation industry.
Enough to even begin to do that. Boeing is going to fix this
plane. They have their engineers
scrutinizing it. It's going to be the most
heavily scrutinized plane to ever fly.
And they know that if they have another plane crash for any
issue that is remotely related to this, the company would be
damaged beyond repair. They're not going to let that
happen. So the whole purpose of this
meeting is for Dennis Muhlenberg to show that Boeing cares about
the families that were affected by this, that they care about
the victims and they care about repairing public trust.
That is the whole purpose of it and we can look and see how
Boeing did these two days in front of Congress.
Now as this hearing went on, I think what investors in Boeing,
shareholders of Boeing, are looking for.
Is to see if Dennis Millenberg, if he can withstand the rebukes
and the lashings that he gets from Congress, that's really
what it was Investors want to see.
Is Congress going to be able to do longlasting damage to Boeing
like they've done with Wells Fargo and other big companies
that they've had before them? Or is this something that Boeing
is going to be able to recover from?
Is this something that's going to damage Boeing?
And what I'll do is I'll just play a couple clips of what I
think are the most damaging moments, the biggest rebukes
that Congress gave Boeing and Dennis Millenberg.
Boeing came to my office shortly after these crashes and said
they were the result of pilot error.
Those pilots never had a chance. These loved ones never had a
chance. They were in flying coffins as a
result of Boeing deciding that it was going to conceal M cast
from the pilots. Senator Blumenthal just called
the airplanes the Boeing manufacturers flying coffins.
That is a pretty harsh rebuke, but definitely not the worst
that Dennis Muhlenberg received at this hearing.
Here's a clip from Senator Ted Cruz highlighting that message
that we talked about in a previous episode where the 2
pilots are going back and forth saying, yeah, we basically lied
to the investigators oops. And they said, Oh well, we
didn't mean to. That never got revealed until
this investigation. What I find most stunning is
your testimony here today. That you said you first learned
to this exchange a couple of weeks ago.
These are senior leaders at Boeing in an exchange saying and
I will quote again. So I basically lied to the
regulators. That exchange that got released
between those two pilots is pretty damning, and Ted Cruz
here was the first one to really vocalize his frustration of it.
But he still was not the one that gave Dennis Millenberg in
particular, the hardest time. You know, they went back and
forth, he said. The buck stops at you.
You're the one responsible of this.
But as this went on, it was like a match for Congress to
continually get harder and harder on Dennis Millenberg.
The winner of the award of giving Boeing the biggest
rebuking has to go to Senator Cohen.
He's the one that really looked at Dennis Muhlenberg and brought
up resigning, Brought up taking a salary cut.
Doing specific things would actually affect Dennis
Muhlenberg. Let.
Me ask you this, Mr. Muhlenberg, you said you're accountable.
What does accountability mean? Are you taking a cut and pay?
Are you working for free from now on till you can cure this
problem? These people's relatives are not
coming back. They're gone.
Your salary is still on. Is anybody at Boeing taking a
cut or working for free to try to rectify this problem like the
Japanese would do, Congressman? It's not about the money for me,
that's not why I came. Are you giving up any money,
Congressman? My board will conduct A
comprehensive review. That's.
So you're saying you're not giving up any compensation at
all, You're continuing to work and make $30 million a year?
After this horrific 2 accidents that caused all these people's
relatives to go, to disappear, to die, you're not taking a cut
and pay at all. Congressman.
Again, our Board will make those determinations.
You're not accountable. Then you're saying the board's
accountable. Congressman, I am accountable.
So this is probably the most fiery rebuking from Senator
Cohen here. But I could show a lot more
clips like this. There's like a dozen or so now,
how did this actually affect the stock?
If I go over to the Boeing stock line, this is from the past five
days, the two days that he was before Congress, the stock price
has gone up. It's up from the 28th.
The stock price is up a full percentage.
So what this shows is that what Dennis Muhlenberg did, He
accomplished what he set out to accomplish.
He didn't make the situation drastically worse for Boeing and
for investors, that is just. OK, We have Congress out of the
way now. That's a huge hurdle.
Things could have gone worse, but getting that hurdle of
Congress out of the way, obviously they're seeing that as
a positive thing. All right, before I jump into
other news items, there's a few other things I want to talk
about in the news. But first, I want to give an
update on the portfolio. As the thumbnail of this video
showed, $65,000. That is what My Portfolio just
crossed, $65,000 in value. That's a lot of money.
You can think about all the different things that I could do
with that amount of money. But when I look at this and I
see this number 65,000 and I see it growing all the time as I
deposit more money, as I get paid more dividends and I see
this compounding take place, it gives me more motivation.
Instead of it being 65,000 I can't wait till I hit 100,000
with it. I can't wait till this gets into
the six figure range and that the dividends coming in are even
bigger and bigger and now the dividends coming in, they are
getting bigger and bigger and bigger.
These dividends are no longer a dollar here, $0.50 there, $0.85
here. These are pretty substantial
dividends that I'm getting paid every single month.
So far I've passed $8200 in gains.
That's another landmark. Let's go and look at the
activity feed and see what's going on with this account.
If I go in here and I filter just by dividends, let's just
look in the past two days, the 31st and the 1st, the past two
days, two days ago, I got paid $28.00 from annually capital,
$13 from JPMorgan Chase, $7.00 from LTC properties. $30.00 from
New Residential Investment Corp, $6 from Toronto Dominion Bank.
That's one day. In that one day I made what,
8084 dollars, $85 and then the next day, November 1st, $27.00
from AT&T, $13 from Verizon. The two telecoms they paid out
at the same time, so Verizon and Telecom.
That's another $41.00. That money since on the weekend
it wasn't reinvested, it's in cash right there sitting there.
$41 That's real money that My Portfolio is generating.
So in the span of two days I was paid like $120.00 in dividends.
And that money is the definition of passive income.
I'm being paid that money by having ownership in these
companies. They pay out their shareholders.
They do that routinely. These are dividend growth
companies and they're paying me for owning stock in those
companies. Now this is pretty amazing stuff
to see this money coming. And I can even go past two days
and go back to the 23rd, the 18th, the 15th, the 7th.
I mean, it's every few days I get these dividends coming in.
And these aren't really small numbers anymore.
A lot of these are 6-7 dollars, $14.00, thirteen dollars $5.
When that's every couple of days it starts to add up.
All this money is getting reinvested back in My Portfolio
and it's helping me build up this number every week, week
after week. This value is going up as a
result of my dividends buying me more shares.
And more importantly, my income is going up.
If I look at this, you've all seen this graph before.
This shows the amount of dividends I've earned month to
month. You might notice the trend line.
This continues to go up as My Portfolio grows, this number
will go up regardless of whether the market goes up or down.
As long as companies don't cut their dividends, this number
will continue to go up. Last month I earned 161 dollars.
I'll find out what I earn when M1 releases their statement
later next week, and I'll let you guys know how much I earned
in October. So we'll see this graph
continually go up as I earn more and more dividends month to
month. That is the whole goal of this
portfolio. The awesome thing about it is it
gives me a feeling now where normally you're just putting
money in and then you're earning money, you're putting more money
in, you're earning money. You have to work for your money
and put more money in. And it feels like you're doing
this all by yourself, feels like you're doing all the heavy
lifting by yourself. But now it's like, hey, I have
My Portfolio here. In the past three months, it's
like a buddy helping me out earned dividends $500.00.
So My Portfolio is now like a second helper helping me deposit
money into My Portfolio. It's like, hey, you don't have
to do everything now. Now that you have $65,000
working for you, invested in these productive assets, we're
going to help you out a little bit.
So in the past three months, we've deposited $500.
And those $500 bought more shares and now I'm going to earn
dividends and interest from those shares.
And that is the compounding effect.
This is what everybody should be working towards.
This is the goal that everybody wants to have.
You want to have your money working for you.
You can't spend your whole life working for yourself.
There's no point in doing that. You're going to work so much
harder than you need to get to the point where you have
something else working for you. You can do that.
We have the opportunity to go in to continually purchase
productive shares of these different companies.
And then those companies, the people that clock into them, the
people that build these products and sell them, they're working
for you now. They're literally employees of
your company that you have share in and they're working for you.
They disperse the earnings through dividends.
And then you're not working all by yourself.
In the past three months, I've had $500 added to My Portfolio
that I did not have to work for. That's not as much as I've put
in the past three months, but it's helpful, that much is
helpful and that will continue to grow.
That's the compounding effect. To realize how important this
is, you can study how hard assets work.
At a certain point with enough money.
If this portfolio gained enough value, it would be a harder
worker than I am. It would be more valuable in the
marketplace than me as a human with all my skills and trade and
experience can be. Meaning the yield of My
Portfolio would be able to put out more money than I'm capable
of earning in the marketplace. And My Portfolio and all
practicality in the marketplace would be worth more than I am.
To illustrate this point, I was looking at this video.
This is particularly on a political social issue, wealth
inequality. The illustrative point here is
that people with a lot of money. Their assets are making money
faster than other people are able to grow their wealth by
simply working. That wages aren't being raised
at the same rate that people with money are able to grow
their assets. Person A has enough of a
financial cushion to invest his savings and things like land,
equipment, company stocks, maybe a master's degree.
Over time, these investments yield a higher rate of return
than the rate of growth of the economy in general.
Which brings us to person B. Say he's working hard and making
$100,000 year over year. The salary he gets for his labor
alone won't increase fast enough to keep pace with the money.
Person A is making off his investments year over year.
Thus, wealth inequality. So do you see what they're
saying in that video? Once your wealth gets to a
certain value, once you have millions of dollars, your money
will work harder than even a high income worker.
That somebody that earns $100,000 a year, $150,000 a
year, you have to be really educated.
You have to be really valuable in the marketplace to earn that
kind of salary. But Even so, somebody that has
enough money, just their assets, if they invest it responsibly,
the amount of passive income won't be $164.
It'll be 10s of thousands of dollars.
They earn more through their investments than high income
earners do, going out and working every single day.
That is what that video is stating.
And of course it's coming out of through like a societal the
social impact of wealth inequality, right?
But I look at that video and I go, well, I have no control over
wealth inequality. I can't really do anything to
solve that issue, right? I'll leave that to other people.
But I look at it and I say, what can I do to get more on that
side where I don't have to work for everything that I make?
What can I do to put my family in a situation where we have a
lot of wealth that works for us and we don't have to be beholden
to our employer and to other people for every dime that we
get? That seems like a much more
preferable situation to be in, and I think it's one that the
most people can be in. I see this is a completely
commonly shared goal. Over the past month I've had so
many emails I can't even respond to them all.
But I know for one thing for certain, this goal of generating
passive income, of not having to work for every single dime you
make, is a commonly shared goal. I have so many emails from
everybody, from white people, black people, Hispanics, Asian
Indian people from Europe and Canada from the US.
Every single age, young people that are 17 and 18 and just
learning about this, that are getting an early start.
People that are in their 50s and 60s that are just starting to
invest and everybody in between. This is something that everybody
wants for themselves and for their family to be able to grow
wealth, to be able to generate passive income.
To not have to be concerned about being financially stable
in the future and the goal of this channel is to be
illustrative of a specific way to do that that I don't think
has a large bar to entry. The stock market is not an
intimidating thing to invest in. You literally just have to look
at it as look at these great companies.
Home Depot, do I want to own a piece of Home Depot?
Do I think it's selling at a good price of what it was
historically? And even if picking individual
companies seems intimidating, that's something that's scary to
you. You can pick ETF's and a lot of
them accomplish the same goals. You can find ETF's that will
invest in the same type of company that you want to invest
in. I'm doing that with my
retirement account. So this is something that
everybody can do, everybody should do.
In my opinion, that will lead to a lot more stability and
financial freedom. I'm a huge advocate of
investing. I think that everybody should do
it. The different types of investing
you can do, whether you're investing in real estate and
going out and buying rental properties, whether investing in
growth companies or index funds or dividend stocks, whatever
you're doing, I think all of that is better than nothing.
There's only a few styles of quote, UN quote investing that I
actively discourage people to do, that I do not think is a
good idea. And I know there's a lot of
people that disagree with this. There's a lot of people that do
these styles of investing that say that I don't know what I'm
talking about or you know, I I don't know how to do it
personally, so I shouldn't talk about it, right?
I'm talking about day trading and swing trading.
I think that most people should not day trade or swing trade.
It is a huge waste of time. I think that has potential to
lose a lot of money. I think a lot of the industry
around these type of tools of buying options, day trading and
swing trading, a lot of times they're centered around greed,
just flat out greed. People wanting to make a lot of
money in a very short amount of time that they don't actually
want to just put their money to work.
They want to simply win the lottery.
They want to win an easy bet. I'll show you one video of
somebody that this did not turn out well for that they got
themselves into a lot of financial trouble for trying to
make quick money. This is a video posted on
investing forum and he's using the Robin Hood app and what he
did this this video shows it has him on the the top of it
overlaid on the Robin Hood app. And what he did was he bought
puts on Apple. And he did so using a lot of
leverage. Now, there's so much risk
involved in there. The fact that he bought this on
leverage means that that not only can he lose his own money,
which he has about $7000 of his own money in this, but he has
the opportunity to lose other people's money, which would make
him a debtor, right? So he used margin, He lended
money from somebody else, he bought puts on Apple, and then
he's recording it live to see the result of when Apple opens
up and which way it's trading. So let's just go ahead and look
at it right there where it says total return 6006 thousand
$900.13 percent up. That's where he's at right now.
But we can continue to watch how this goes and this is unfolding
live. This is like a few seconds this
happens. Apple starts to trade upwards,
which if you buy puts you're hoping that it starts to trade
downwards. Look at that.
Do you hear that guttural sound? That is the sound of somebody
that just lost $40,000 in about 10 seconds.
I keep playing it here and you can even see what direction it
goes. Is that negative?
42,000 Now look at that line one week straight down because he
bet the wrong way on it. Now if this went the other
direction, he would have made a lot of money, right?
And he would have posted online about how easy options are, how
easy money is. He would have lured more people
in the following his same advice, and more people that are
unsuspecting of the downside would go and continue to try to
replicate the same thing and probably lose a lot of money in
the process. But I think it's important for
people to see this side of it. When you go into these type of
risky traits, this is the type of thing that you're venturing
into. What you're doing here is not
the same thing. Buying shares in these companies
is simply just buying a part of a company.
What he did in that video to lose a lot of money is he made
bets. He gambled, he bet on the price
moving a certain direction at a certain point in time, and he
gambled wrong. He just flipped the coin with
his money. And he used leverage to do it in
that situation which was just playing with fire, but he bet in
the wrong direction. You're not doing the same thing
here. Owning shares and companies is a
very long term thing. This is how you grow your money
over time. Now a few things I just wanted
to mention in the news. First of all, AT&T which is one
of my larger holdings in My Portfolio, one of the best
dividend payers. It just laid out another
three-year plan of how they're going to pay down a lot of debt.
Which makes their dividend. They're paying a lot safe right
now. So from previously, just a
couple months ago, their dividend is now safer with this
plan that they've laid out. They've settled some disputes
with an activist investor and they unveiled HBO Max, which is
the new streaming bundle that they put together.
They. Once only, Excitement about.
Are you ready to see? Something different?
This is the moment I've been searching for.
Ready. Ready.
Take the red pill and I show you how deep the rabbit hole go.
All right boys, let's go launch this rocket.
That's their little trailer for the service.
Really. The nice thing about this is
that HBO is already $15.00 a month.
That's what you would pay if you want HBO's content right now.
But pretty much all they've done is gathered together a lot of
other content from a lot of different networks and different
shows and movies and TV series bundled that together.
Called it HBO Max and said the pricing is going to remain the
same and current HBO subscribers are going to just continue to
pay $15.00 a month, the same thing they have except they're
going to unlock all this new content.
So. I think a pretty good offering.
They know that they can't charge more because now all of a sudden
$15.00 a month is a lot of money for a streaming service.
When you have Disney and Apple both coming out with $5 a month,
you don't want to charge too much more than $15.00 a month.
So that's a pretty good update from AT&T.
The next thing I wanted to touch on real quick is the Fed just
cut rates for the third time this year.
I think it's going to be the only time that they cut rates
this year and possibly next year.
I know that the Fed usually likes to get its business done
before election years, so they're not looking to fiddle
with the economy 2020, because Jerome Powell does not want to
be blamed for changing the economy, messing with it and
changing the direction of the elections.
So he got this rate cut in. He thinks that he set the
economy up good for 2020. And I think that they're going
to want to leave it as much as they can.
If it shows signs that things are still not going great,
they're not going in the direction they want.
They could do another cut in 2020, but he's tried to say that
he doesn't want to do that. So along with the rate cut as
predicted, we have Robin Hood now offering 1.8% APY.
Just before this rate cut it was 2.05%.
They're forced to take that down a quarter percentage.
Now they have pushed down the cash management to 1.8%.
That's in line right now with where Allied Bank is at 1.8%.
So we'll see if Allied Bank will move theirs down further.
They haven't after this rate cut, but there's a lot of these
high interest banks. They get affected by this
downward pressure of rates. So we'll see which ones are able
to hang on to their higher interest rates.
In the last bit of news I want to mention is Bill Ackman.
This is an activist investor, a billionaire.
He said that he believes we work is worth 0.
That was what he said in this Financial Times report and part
of it he says, I just want to quote one part of this article.
I think it's kind of funny quote.
I think we work has a pretty high probability of being zero
for the equity as well for the debt, Ackman, founder of hedge
fund Pershing Square Capital Management, said in a Robin Hood
interview conference on Tuesday, according to the Financial
Times. Quote As someone who has put
good money after bad, I think this looks like putting good
money after bad. He's saying SoftBank care is
making a mistake in we work, and I think I agree with them.
I bet at this point SoftBank just doesn't want to lose the
deal. SoftBank is a Japanese bank, and
I don't think that SoftBank wanted to see one of its
investments go this bad and get purchased by JP Morgan Chase or
Bank of America or another American bank.
I think that that would look terrible for SoftBank.
So to me, it seemed like they just wanted to save face.
They wanted to keep holding. We work and keep investing in
it, and they're going to chase that loss no matter what.
They're going to keep trying to make that company profitable.
So we'll see where the valuation goes in the future.
And if SoftBank really is able to turn, we work profitable.
OK, let's get to some questions. joseph.carlsonshow@gmail.com
joseph.carlsonshow@gmail.com. The first one says, hey Joe,
dude, First of all, thank you for sharing your experiences on
YouTube. It's been a huge blessing just
listening to you and applying different principles in my
financial life. I wanted to ask you for advice
since I don't think you've made a video addressing this yet.
I'm 25 and I want to open my Roth IRA but not sure if I
should do it through a robo advisor or through a financial
advisor. I contacted a local financial
advisor and his fees are .6% for the 1st, 50,000.55% between 50
and 100,000 and .5% after that. He uses Voyage where there are
no transaction fees, it's just his recordkeeping fees.
Hope you read this. Thank you again.
So you're wanting to know whether you should use a
financial advisor that will charge you .6 percent, .55% of
your your money that he's managing every single year.
So like if you had $100,000, you take roughly 550 bucks a year.
That's not really expensive management fee.
You know this this financial advisor that you found, it
doesn't sound like he's trying to rip you off or anything.
A lot of them. I think the normal pricing,
somewhere around 1 to 2% somewhere.
They're usually like a percent and 1/2 is what they'll charge
for financial advisory. Would I do that?
No, I wouldn't give my money to someone else to manage for free.
So if you didn't charge anything for it, it was just a free
service. I wouldn't do that because I I
could pick a robo advisor and I don't really do that.
I pick M1 Finance, which can kind of act like a robo advisor.
But right now I'm not taking any robo advice.
I'm just using it as a broker for free to invest, but I'm
picking out the investments. So I like being in control of
the investment decisions I'm making, not some kind of
secondhand control where I say, yeah, I want a portfolio that's
less risky and then they construct A portfolio that's
less risky. I like literally having control
of every single holding I purchase and the exact
percentage of that holding. So that's the level of control I
like. For people that don't want that
much control, you don't want to really focus on it.
I think that this is a pretty decent option for people.
You know, there there is a place for financial advice.
Some people are terrible with finance.
Some people would be better off just handing it over to somebody
else. But no, I don't think the fee is
outrageous here. I think it's an option you could
choose. If it were me, I would just go
with the robo advisor. I think that what financial
advisors typically do for people is exactly what robo advisors
do. They'd say, do you want a
conservative? Do you want a aggressive
portfolio? Do you want to be invested in
stocks or bonds or real estate? And then they just invest in it.
And you can do the exact same thing using a robo advisor.
You can literally just pick out what type of portfolio you want,
put your money in, and then you skip the fees.
You don't have to pay the yearly fees for hundreds of dollars.
So I think in my situation I'd pick the robo advisor.
But if you feel more comfortable being able to talk to somebody
and have somebody there to support you, being able to have
a human support instead of just instead of just having an
automated, you could go with the financial advisor.
I don't think .55% is rip off by any means.
Next questions from Instagram, he says.
Hey man, question about your YouTube channel.
What do you find it interesting yourself to create a video
regarding the Democratic slash Republican portfolio with
upcoming elections? I think it would be super cool
and also super important to understand the impact that each
party has on the market. Let me know your thoughts.
Yeah, I actually thought that this is an interesting idea.
So you're saying to look at how you would manipulate or
construct A portfolio based on which party gets elected.
I could look at that. I would certainly want to wait
until we get closer to the actual elections before trying
to predict who's going to win on the Democrat side and be the
front runner. Right now, there's like 10
people running, so it's impossible to even say what
Financial Policy will win out, what candidate will win.
And then there's a lot of things you have to look at because
certain candidates in the primaries, they say very drastic
things to top each other, right? Democrats, they're always trying
to one up each other on the different financial policies, on
the different social policies because they need to make a lot
of noise to get noticed in the field if you're competing with
10 other people. And that's how it is on both
sides. Republicans were running this
year against an incumbent Democrat.
That'd be the same thing. But right now you have to give
it some time because when they get in the generals, they'll
have to have a broader appeal. Then they might change some of
the rhetoric and the policies that they're saying and you
know, we'll see what type of financial policies and platforms
went out from the Democrat party.
As far as tailoring A portfolio, I do think that there's certain
industries that would be hit harder and ones to potentially
be cautious of. You have Medicare for all, so
that could be a target with healthcare.
So there might be some adjustments you could make to
your portfolio to insulate those type of risks.
And I think that you'd see that play out.
What would happen is investors would look at the probability of
that person winning the election and then when they do win, the
probability of them getting this different type of legislation,
these policies passed. And then if they did get the
policies passed, how they would actually affect those
industries. You'd have a lot of banks and
hedge funds do that kind of studying.
Once we get closer to the elections, then then they'll
judge the risk of holding those companies or those sectors.
So I will probably do something like this.
It'll just be closer when we actually see who's going to win
out from the Democrat side and what their policies end up being
after they make it through the primaries because a lot can
change over the course of a year.
So interesting thought there. I'll probably follow up on this
more. Amelia says hi Joseph News has
definitely been interesting these past couple of weeks and I
can't wait to see how the markets react and how your
portfolios grow. My question is regarding M1
Finance and reading the statements and then inputting
that data into a dividend tracker, I'm not exactly sure
how to do it. So any advice would be great.
Thank you. By the way, with some of the
recent topics regarding Blizzard, does this mean that
you have an interest in esports? What do you think about it and
do you think it will be comparable and profitable to
traditional sports in the near future?
Keep up the great work. The first part of your question
there on inputting that information from M1 Finance into
the dividend tracker. You go to settings on M1
Finance, then you go to Documents and then you select
the statement for the month that you're looking to input.
Typically, the statement will be released like four or five days
into the month. The previous month will be
released. So you go into that statement on
the top left, it'll have a section that says you're
starting portfolio value, the ending portfolio value, and the
amount of dividends earned during that time period.
That's where I get all the information that I plug into the
dividend tracker. Very simple.
You just download those documents every month.
You look at the top left and look at those 3 bits of
information and plug that in. Now the second part of your
question where you say, you know, by the way, the recent
topics regarding Blizzard, do I have an interest in esports and
do I think it will be as profitable as traditional
sports? So yes, I do have an interest in
esports. I think it's a just a really
interesting industry. It's definitely growing.
The amount of money made by gaming companies by esports, all
of that combined is enormous and it's growing really rapidly.
It's growing much faster than traditional sports.
So there's a lot of and there's a lot of opportunity there.
The reason that I haven't invested in it so far is because
it's still figuring itself out. It's very fractured.
Sometimes one company will come out with a really hit game that
will get a lot of the attention. It is.
It's really difficult to guess what those are going to be.
I just haven't found a really good route in investing in this.
All of it is fractured between multiple companies.
Rarely are they stable dividend payers.
They don't really fit well with the investing philosophy that
I've had. So even though I think that
there's value there, there's potential places to make good
returns there. It's something that so far I've
just avoided out of My Portfolio.
I wouldn't feel comfortable just picking one of these companies,
putting in My Portfolio and dollar cost averaging into it
without really paying too much attention to it.
They're more really active investments that I'd have to
really keep up on the news to see what's going on with them.
So that's the reason I haven't invested in it.
But I do think that esports is going to become bigger and
bigger. Eventually, I think it might
surpass traditional sports because there's a lot of people
interested in video games, I think more so than traditional
sports at this point. All right, well, that's going to
be it for me if you guys haven't like the video, subscribe to the
channel, share it with some friends.
We're all trying to invest, build up our wealth over time.
This is the whole goal of it. If you guys want to support the
channel more directly as well as talk to me in between videos,
you can join a Discord. There's a Patreon that you sign
up for and then it gives you access to a Discord channel and
there's a lot of people there. We've been having some fun
discussions, so you can consider that as well.
Otherwise, I will talk to you guys next time.