 Because of the yeah, we're not allowed yet. But yeah, we're passive hold right for you But we're a we're a significant holder of a free and we're going to continue to be a significant holder of a free You know whether this transaction actually gets completed or not is the big question a lot of underlying Discussion of what's going on with Africa right now and you have these negative short-seller reports out there But you know you there is positive because even what they're leaving out potential linkage between PGB and Africa You know this is a bonafide bid You know and it is at a price higher in the marketplace where the stock is trading right now And just so that our viewers are fully aware your horizon ETF. You have a cannabis ETF Yeah, and and so that's why you own a number of stocks in the Canada This is the whole ETF I think it's the CEO of the HMMJ ETF The largest ETF in Canada the first marijuana ETF And they own a lot of Africa You know it's a $800 million fine and we own a significant stake in Africa itself What has happened in Africa? They own a big stake in Africa What's your outlook then for the cannabis industry in 2019? Particularly going back to what you said in terms of we're actually really going to get real numbers from these companies after legalization Real revenues coming Now we're preparing their Q4 statements These are all public companies and you know what They're all going into a quiet period with respect to talking about their financial results And it's going to be very interesting to see where the true sales numbers are like The ones that have come out already have been very positive You know and are giving us a nice forecast on what this market could look like in 2019 For this again young emerging sector So you know we're going to see some companies falling short of their expected financial results And we're going to see those as key takeover targets if they have assets there that they're making See what's going on What I've just said Is that totally their targets? We're going to take it over And all the people that wasn't left standing Shit you guys couldn't hear That's fucked up I had the volume off Shit Sorry guys That's my bag That's my bag I had the volume off That's retarded so you guys totally missed that whole thing Sorry man That's right Sunday's the big day And then the second one's coming in on Tuesday So you guys missed the whole conversation I was listening to B&M Bloomberg And the CEO of B&M Bloomberg was saying that That all these cannabis stocks are hitting a bottom and that's why they're jumping right now Sea of red where? Sea of red where? Where's their sea of red? The Dow? Yeah it's been up and down TRUL plus 125 What do you mean? Oh 12% nice T-God's up 16% nice Nice Keep bringing the picks man Keep bringing the picks I was happy No there has been a lot of concern there And this is just because they're really Disregarding what the federal government is saying That it's going to open up this highly coveted area Japan in particular Do I think that T-God's going to go back to $3? I think T-God's going to go just like $10 Yeah it's going to go to $3 Come on man We know this We know where T-God's going What the word God in it T-God T-God Hell yeah it's going to go up Hell yeah it's going to go up A-G-R-U up 27% Yo Let's go Acreage Told you guys Acreage was a beast man Told you Buy in the red, sell in the green, buy low, sell high When everybody's crying that's when you're buying Acreage system and it works Sorry you guys missed some of those conversations In the cannabis sector man I didn't realize that my volume was turned off I had my phone turned sideways And the volume was on the side And it turned it off Sorry about that Technical difficulties guys This is why you don't drive and record And go live A lot of things going on at the same time here Trying to focus on the road This is why my phone keeps bouncing T-God's going way higher than $3 Way higher than $3 Way way way way higher I can see T-God at $7 Easily It's the perfect time to visit the team Happy New Year's to everybody Wish you guys all a blessed 2019 And beyond APHA is up 11% Can trust up 8% Yo thank you for the picks guys Everything's moving man I should set up stream labs? What's that? Yo I love you guys man Happy New Year to all you guys man Wish you guys all the best in 2019 And beyond man We're gonna get it No one can stop us We're already up Sorry guys No one's lying That's $365 Yo what's going on? There we go We're back TSX is up Dow is jumping by $200 What's with the loony? The loony just keeps falling What the hell? Canadian loony sucks Even crap Bombardier is up 6% What else is popping guys? How about that VTVT we were looking at earlier? Is it still popping? VTVT It was popping earlier like 150% Bombardier up 6% Yeah juju looks like a dead man It does Those have been a relative out performer In 2018 In fact in green territory Up 3.2% here to date For where healthcare goes from here We're now joined by the team that's an officer At Harvard's portfolio group at Paul Mcdonald He manages an ETF Who's on fire? Thanks for coming in It's great to be here thanks for having me When you take a look at the markets Particularly in the United States That healthcare has been Essentially managed one of these funds That's right healthcare in particular We've been pounding the table for several years We continue to do so It's one of the few sectors that have Great, short, medium and long term Trucksally positive dynamics But it also has that defensive Characteristic so not just similar In 2008 when you looked it was down Lights and markets but it was the best performing Sub-Sector and we're certainly seeing that In this environment here as we Oppose sort of the later stages So when we take a look at your Healthcare ETF What's the Healthcare ETF Interesting We have 20 large cap healthcare Companies diversified across the Yeah, NTRs are doing well man I ain't ignoring you bro I ain't ignoring you then I ain't ignoring you but I ain't ignoring you but That's in your head bro Nobody's ignoring anyway No, I'm not ignoring anybody NTR good pick man It's been doing well Respect on that pick pistol Pete Respect People are taking the profits When you see things go up You gotta sell it Yeah NTRs made a nice run man Good work, good pick on that one What other picks Anything else that we need to look at Anything else that's moving I heard MJNA was moving I heard MJNA was moving Come on man You're not a fucking drive You're doing Jeez What's wrong with these people man Weekend drivers They only come out on the weekends Just like stop in the middle of the road Like who does that Come on man Let's see what the CEO's talking Let's see your diverse body in particular NTR NTR was at 25 cents A month ago At $1 today Very nice I like that I like that TNY Yeah is that Tinley Beverage Company They've been doing really well too The line is getting a little bit blurred As pharmaceuticals are shifting Into biological drugs Which tend to have less patent Expiraries Worries associated with them They're much more complex You do have medical devices Ranging head, shoulders, knees and toes And the heart in between so to speak From our perspective When we look at the various substructures Given this pullback Medtech still is trading at the upper end Of the valuations And their fundamental valuation metrics Are a bit more expensive We would suggest the pharmaceuticals For the biotech But they're certainly very inexpensive What's this cycle looking like though Right now for the pharmaceutical companies Because if you get them at the wrong Side of the cycle These stuff won't do anything for a very long time Whether there's not enough in the pipeline Or the patent expiration So where are the pharmaceuticals these days That's a great question Pharmaceuticals are getting into cannabis That's where they are They're all getting into cannabis The words Vivo is up 24% Yo You know I love my vivo You know I love me some vivo And bleeding into the third quarter next year Huge amount of food And cat balance man coming from the bottom Stocks coming from the bottom It really is evolutionary We think they were still very much There's nothing surprising there Good companies will always go up long term They might go down in the short term But long term they're going to go up Yes so we do cover that company We don't own it And so they do have a You know in their devices And equipment that they manufacture Also have an industrial component So we do want to focus in more on the pure play Companies that are exposed to the To the healthcare space I don't have the numbers off the top of my head But they would be considered one of the medical technology companies Yo guys there's 22 minutes till the market closes What's popping Maybe GGB should buy vivo Yeah that's a good point It's a very good point I don't know if vivo is for sale But um You know GGB is trying to go after Aphria because they're one of the biggest right So I don't know if they're interested in vivo at this point I don't know if that's A target on their watch list But you never know Vivo is a good company too They have a lot of money in the bank So it's very possible What drove markets today What changed I think it's the Aphria deal I think it's the Aphria deal Whenever you got news Whenever you got momentum in the sector Whenever you got people that want to buy out other people It creates interest It creates excitement and gets people talking And like I said yesterday It's going to make the sector green And we're green I've been around long enough to just kind of know You start to get a feel for these things You don't always know Sometimes the market's going to do the opposite of what you think Obviously, clearly that's happened a lot too But good companies are going to go up over time So when they've gone down as badly As they have over the last couple months You know at some point they're going to climb back up And I think that This is just an example of that You know We've hit a bottom So we're starting I told you guys we're bottom hunters We hit a bottom, we're starting to see it climb Yeah, there's going to be a lot of mergers in 2019 Having said that It's going to be the year of the merger Because all these small companies are going to get acquired Now that you would say, you know what It's going to get worse before it gets better I'm not going to step it in I'm wondering if it's going to be the people you're worrying We're investors If you were the type of person that worries Investments go up and down It's not for the faint of heart Probably not the place for a worrier Or a panicker That's why I made these songs Don't Panic and Cannabis Stocks Resurrection Because I know where we're going And I already told you guys Nobody can stop us, we're already up We're already up, we can't be stopped Maybe more than just Everybody has An argument for their value In the process But certainly bringing some transparency there I think that bodes well for your Pharmaceutical and bio-pharmaceutical ACB is too big To get bought by another marijuana company You never know You never know Canopy can buy them Canopy has enough money to buy them So Anything is possible If you get like a billion dollar Company A billion dollar pharmaceutical company could buy them Any day So nobody's too big to be Purchased Nobody's too big to get purchased In my opinion Not at this point Imagine if Mickey D's Bought ACB and then they would have cannabis At McDonald's I don't know how they'll go over with all the kids Yeah, Coke could easily buy A lot of these companies, absolutely Coke has a lot of money Different meaning to happy meals McQueen fries Getting into a bad frequency location Yo guys, we got 17 minutes Until the close Is there anything else That we need to talk about right now Before the close We got 17 minutes, I'm gonna stay live with you guys I'm just driving So Who bought Evo? What? Sorry, I missed that What happened with Eve? These drivers are killing me, man These drivers are killing me Weekend drivers Afraid of the rain You bought way too high Well, I would either be patient Or I would buy more to lower my cost That's the only way to deal with that Take an L You think it's interesting that a US company Such as GGB is trying To buy a Canadian producer I have a feeling we might see more US consolidation Moves into the Canadian space Well, think about it this way In America, you can only work in America But if you acquire a company like Africa, now you're working in America Canada and internationally Because Africa is already international So by them trying to acquire Africa To essentially go global But Africa already said That's not gonna happen I'm not surprised Obviously they think they're worth more The price would go higher if they just dealt with Their Short trader report From Hinderberg Research And all the Short traders that are coming after them They'd be doing much better And they wouldn't be getting bought out For only 2.8 million They wouldn't have a buyout offer for 2.8 million Which is a lowball offer But It's the best offer they're gonna get right now Based on the fact that they haven't responded to The accusations of Scandal and fraud Which is a big accusation And they haven't even responded yet So You know It is what it is Okay 15 minutes To the close people Dow was only Dow 123 That's not even that bad Considering it was down like 500-600 points Like an hour ago On 14th He's such a traffic 14 minutes to the close That's a tough job 13 minutes to the close You're more richest Doing some holiday shopping Making sure I'm loaded with supplies Here in the ride Just driving coast to coast And city One side of the city to the other We're doing this for you The people live We're listening to Bloomberg Radio Live Happy holidays everybody Big weekend of football A couple more weeks you're gonna see your boy And I'll be on the beach I'll be doing these live streams from the boat 12 minutes to the close 12 minutes Oxley's been on fire You just have to fill the truck Tell us what's going on Repositioning it Repositioning Repositioning Exactivated by the fact that we do have any reallocations That it does have a tendency to push the market One direction or the other Dan, let's go back to the pension fund Supposedly or supposedly in the market Rebalancing their portfolio What was the tip chat around that? Obviously it was a large pension fund What do you think they're setting themselves up for In 2019 Any word on that? There's no official word on that Catherine But I think at the same time I think you had a fair amount Of some players here Particularly in the last six months Who were sitting out this run up I can tell you that we had some cash On the sidelines as well And I was not thinking too fondly Of myself earlier this year But now there's some opportunities here People are buying the dips, man People are buying the dips A lot of people were selling for tax law season I think that's another part of the reason Why maybe we are seeing At least some foundation here Temporarily as we roll into 2019 And as we roll into 2019 Dan We've got one more trading day One more trading day guys In 2018 One more day One more trading day Monday's the last trading day of the year Ten minutes left Ten minutes till the close I'm rushing home Very extreme levels Very extreme levels Yes Opportunity and volatility Being some of these initiations And I think potentially We'll see further initiations in January Because number one The economy is still pretty strong Yes the economy is strong We're not going through a recession There ain't no recession There's definitely no recession in Canada I'll tell you that But there's still a possibility But there's 50 parts here now That may be taking that off the table Or at least playing for the reduced probability BVO let's go CBT, FF FF of 800% What What Grace What It's a war Mark goes up and down It's crazy It's crazy I'll maybe show you a position Because they don't want to have to deal with it on Monday Seven minutes till the close Happy New Year to everybody Love you guys We got seven minutes until the close So I'm just driving here In beautiful British Columbia in the rain In a couple weeks I will be on the beach I will be at my Dominican villa For two and a half weeks Can't wait I wish I was there right now Before I go I will be doing a lot of videos So don't worry I will keep you guys up to date On everything that's happening While I'm here And when I'm gone And when I'm on the beach I'll be doing more travel videos But I'll still be doing stock videos Don't worry But I gotta do some travel videos Because the reason I invest Is so I can travel That's why I invest So it's important to show Those things that I do Because it's a big part of my life So work hard Play hard man The reason why I invest And then when I win Then I travel I love to travel I literally live to travel That's just me Honestly love To find the winners Help the people make money And then take that money that we win And take that money that we make And invest in myself I love to do that That's the reason why I do it That's the reason why I invest Otherwise why are you going to invest The reason why we invest is so our money Can make us money That's why we invest So for me When you invest you should set goals for yourself What do you want? You want a car You want to pay for your education You want to buy a house You want extra cash flow Set a goal for yourself That's what I do That's what I always do That's what I've always done That's what I will always do Either going to be using that money to buy Property More stock Go on vacation If you know me You know those are the only things I'm spending my money on I'm pretty disciplined I'm a very disciplined investor And obviously I spend money on my kids Other than that I'm going to try to keep it that way Because those girls are expensive Especially when you go through a divorce And you get cut in half You get chopped in half Yeah that hurts man I wouldn't advise anyone to do it Mind you don't get married thinking you're going to get divorced I promise you that It's definitely not on your mind when you're getting married Great job Is there anything else moving right now guys Three minutes Three minutes until the close We are listening to Bloomberg Radio Man they got a lot of commercials Bloomberg Radio They making money man They got a lot of commercials So if you want to be an analyst With Rich TV Live You can be an analyst anywhere in the world Anytime there's any breaking news You can come on my show And what we're trying to do is we want to be like Bloomberg Where we have analysts all over the world And we can talk about stocks and trending topics All over the world live That's the goal 2019 is going to be a huge year man In 2018 we went from Nobody knew who we were Now we're on the map We may just be a dot on the map But we're on the map So 2019 We're going to make some moves I promise you We ain't going to just be on the map The loony keeps falling Come on Jeez The loony keeps Falling That ain't cool man HEXO up 11% nice Hip is up 4 cents today Nice All the pennies are moving All the big boards and all the pennies are moving Two minutes Two minutes Here we go Two minutes Show you guys where I find my tools Where I find my nation Where I find my education I use different tools Like Bloomberg radio Show you guys all my tools man I'm not here to hoard my tools And be like if you want my pics Baby baby Give me your money Give me my pics No I ain't about that I'm about making money with you The people Here we go Hold on to the games Hold on to your games Here we go We have a nice run up over the past couple of great days, really standing for the down moving up 1,000 points as we take you to this fair shopping scene close in Bells. We were up by over 200 points at 3 o'clock and we've also been seeing the negative movement just over the past 20 minutes or so to look to an in-negative territory for the city. We are in after hours now. The market is closed. Ding, ding, ding, ding, ding, ding, ding, ding, ding, ding. Take a look at where the market did end the fashion with the down, down like 77 points. And again as I said, we were up over 200 points at 3 o'clock in time periods. And now it's like it's barely holding on to some gains. The TSX are still ending in positive territory up by 66 points as I said. TSX up 56 points. There was some financials, industrials as well as energy scarcity. The materials lately on the down, down, down, down. Now it's like trying to hold up to its gains. The picture though definitely was a choppy session. We saw the Dow down 150 points early in today's trading activity. Then we saw it rally about midday holding on to those gains at around 3 o'clock. And then now pulling back into those closing bells. Now a couple of different reasons perhaps it's a war on the market movement. It's a war on the markets. I told you guys it's a war. And because we had a lot of investors who perhaps looked at the peak to trough which was 20% to the downside and stepped in and did a little bit of buying over the past couple of days. I've been hearing that there was a large pension fund that was repositioning or rebalancing their portfolio actually yesterday and some of that came into today. The other reason though for the rally that we've seen even though... Yeah, what Mr. Trump says by? Everybody buys. With this very choppy session is perhaps because we had a bit of a seller exhaustion. So a lot of different reasons in terms of why we've seen the markets move high. Seller exhaustion. Those closing bells. It is a very quiet session. Seller exhaustion. The volumes are light. So it seems as though the bids, the buyers and the market this prep went away. Yeah, everyone's gone. There aren't as many of them today as we know a lot of people are off this week. So all of that comes into place. Sneak attacks. Sneak attacks while everyone's on vacation. So here we go with the energy sector up by 1.5%. Financials still holding on to some gains in dust fields as well up by close to 1%. So a little bit of some positive movement on the TSX for sure but we are still greatly under water on a year-to-day basis as you can see those. Past couple of trading days we are trying to get some momentum to be upside. Let's run out of the picture here a little bit right now. So it looks like the TSX will finish in 2018 in the rain. Under water for the year. So that's a bad year for the Canadian exchange. Let's talk a little bit about what we did see today. Very volatile once again. Volatility. The word of the day is volatility. Volatility. When I go to the Dominican will there be any hot checks? I'm going with a bunch of my buddies. I'm going with a bunch of guys. I'm not going with girls. There's always a chance that there will be many parties at the villa. And lots of entertainment. Stay tuned. If any crisis happens you know your boy will bring it to you. I promise you guys this. If anything crazy happens in the DR I'll bring it to you. Not too crazy but like family show type crazy. Oh my goodness. Oh we're going to get it in 2019 man. There's no doubt we're going to get it. There's absolutely no doubt. You know what we're going to get? We're going to go all the way to the top. That's where we're going. It's like destiny. Wow. $70 a barrel. So if you're into boiling gas might be the time to buy. Wow. Interesting. Interesting. You are watching the close on Rich TV Live. So what a crazy week. Considering we are going into the holidays I thought it was actually a very good week. We have been able to find a lot of winners this week. And a lot of companies that have been down have bounced back up today so that's very strong. So overall good week. Obviously the big news with Afria and Green Growth Brands brought a lot of attention to both Afria and Green Growth Brands which I think is great for the industry and for the sector. I don't believe that Afria is going to accept the deal and neither will the shareholders. I believe they think it's worth more. So next week will be fun. Monday the holiday. Monday will be a normal trading day. Tuesday will be a holiday. So Monday will be the last day of trading for 2018. Hopefully we finish off strong in the green. I know that the TSX was green today and I know the Dow Jones was slightly red. So it's kind of choppy kind of a mixed bag. But overall I believe that the... I'm not in front of my computer but I believe the cannabis sector did finish in the green. Which is fantastic. I love that. So from that perspective I'm quite happy. Quite pleased about the fact that the cannabis sector finished in the green. So I want to wish everybody a happy new year. Have yourself a great long weekend. If you guys have any questions feel free to message me. Please guys if you like this video smash the like button. Now remember Rich TV Live is strictly for education and entertainment purposes. We are not licensed advisors. Always do your due diligence. Always do your research before we vest in anything. I'm just like you guys man. I'm just an average guy trying to do above average things. And I want more. I want more in this life. So I'm willing to work hard to get it. If you want something in life you got to go and get it. And every day that I do these videos is just me going out there and getting it. Me just trying to reach up. You know reach for the stars and land on the moon man. That's all I'm trying to do here. Trying to do some big things. And slowly but surely slowly but surely we're going to get there. It hasn't happened as fast as I'd like. Maybe some people think it's happening faster than they thought. Maybe I even thought I'd be higher than where I am. Maybe I'm farther than where I thought. But at the end of the day we are where we are. And I'm okay with that. 18,000 strong. I'm okay with that. What will 2019 have to offer us? I see big things man. I see big things. 50,000 subscribers? 100,000 subscribers? Some big things are coming. That's for sure. Some big things are coming. So stay tuned. Get your popcorn ready. If you're not winning, remember you're not watching. This is your boy Rich. From Rich TV Live. Dropping my phone again on you guys. Man, I just keep dropping my phone on you guys. We're going to just listen, tune in a little bit here. The beginning of that band starts towards the middle of 2019. And you measure cycles from low to low. So presumably the four-year cycle low is going to hit some time. Maybe starting in May. Through towards the end of next year. They're not always perfect. It could happen even earlier or it could happen later. But certainly the cyclical patterns suggest that we should be pretty cautious going forward. And there's lots of fundamental things that I think about that certainly are consistent with that. And I think we could end up having that even if we don't have a recession. Does the market seem to be pointing in the direction of a material slowdown and growth? So we may not have a recession, but we may have a slowdown. This is what this expert is predicting. It's only a matter of 20 or 30 days at this point. Corporate spreads have widened out. They've widened out quite dramatically, but they're only about towards their average. This is not a major blowout and it looks really tank compared to 2016. And you see some pretty serious damage in parts of the equity market. You've got, you know, there are components of the equity market like the industrials that have hit very hard in quite a cyclical industry. So we're building this, you know, the broad U.S. markets in early October. The MSCI World Index last January and a number of other markets between them. We're moving into that window where the equity market lead by anywhere from two to 12 months. So we're in that window where a recession may hit. But I'm looking at all these economic indicators. They're really timely ones that tend to be, you know, a little forward-looking. What are they on you? Well, look, there's a number of things that are in the index of leading indicators. So you take out the yield curve. You take out the stock market. You get like inventory ratios, new orders from the ISM index. I look at global steel production, for instance. It's pretty timely. And that's an area that's being really hit by trade. And as of October, it was growing pretty nicely. The October numbers on global trade, import and export volumes are pretty good. So I'm not seeing the erosion yet. So... Mm-hmm. Well, he's saying he doesn't see recession yet, but it could happen. We're seeing that at Richmond the other day. But, you know, I'm at the point where I don't pay attention to those so much anymore. You know, trading the markets. Mm-hmm. But the type of work I do for Davis Ray and his clients is more what's the trajectory here. Right. And next week is a big week. I spend the first 10 days of the month with my economics hat on more often than not. Because you get the ISM numbers in the U.S. You get the global PMI numbers, manufacturing and services. And I find... And those are going to be for December. Very timely. In the first part of December. So I was using November data. And I didn't see any erosion. Mm-hmm. What did happen then? Why is the stock market seeing this erosion? Well, I don't know. That's a good question. Sell-off. It's just a sell-off. People taking profits. Tax sell season. People just taking the profits. Taking their losses. Don't worry about trade. It's all going to be great. The Fed isn't going to... The Fed will come to the market to rescue if need be. And, you know, economic and earnings growth are going to go on forever. But, you know, you come out of a global slowdown of 2015 into early 2016. You have the recovery. Growth accelerates nicely. Yeah, man. Every day above the ground provides us with an opportunity that I agree with you 100%. And in every negative situation, a seed of opportunity grows. So, when stocks go down, that's actually an opportunity to have the opportunity to buy cheap instead of panicking and worrying about the fact that they're down. Think about the fact that that's your time to buy. The economy, global economy, U.S. economy, then I think many others are. I think it's going to be below consensus in terms of growth rates. But I, you know, this is part of what I've been thinking is going to be a recession in 2020. So, you know, it's going to be a recession in 2020. Right. No one's ever been right about, you know, the curve has never been right on a recession. Right. So, could we have a bear market without a recession? We've had them before. When was the last time we had that? 98. So, in 1998 we had a bear market without a recession. Interesting. Then you had the Russian debt default and long-term capital management. And, you know, I think it's real close on the S&P 500 that you got down to, like, to minus 20%. But it was, you know, it was a four-year cycle low. And it was pretty ugly. It was really ugly. I remember it. Thank you. And so that was one. There's always issues around it. And there's lots of issues around now that could cause, you know, we're pretty well on the cost of the bear market if you use the broad U.S. indexes. The bear markets are clearly in bear markets. John, when you take a look at this four-year cycle that's the years or the measurement that you're using, some people would say, well, it's maybe a four-year cycle, but we're in a, I don't know, a 12, 16-year bull market. But at the same time too, nobody wants to lose money or capital depending on where you're at in your state of life. That's what it comes down to. I don't lose money ever. If we are in a 12 to 16-year bull market, then the four-year cycle tends to be milder. If you're in a longer-term bear market, the four-year cycle is much more unpleasant. What are we in then? Well, you know, if you accept that we hit new highs on a broad range of major markets after the sideways movement through 2000 to 2009 and so on, I'll suggest we're in a secular bull market. And the four-year cycle, well, bear market, would be kind of a normal happenstance. Is it the case that we're not really out of that secular bear because of all the money printing that happened? I don't know. What I see happening is we're having a regular shake-out in the market, which is normal. If you stand back and look at the long-term, over the long-term, nominal global GDP growth is 4-6%. Over the long-term, it's been higher than that, but it's flowing up. And earnings and dividend growth go in line with historical nominal GDP growth, and that gives us pretty good, you know, it's given us pretty good long-term returns. And that would nibble and there's little wiggles over time. Yeah. That don't matter who gets your pension fund manager, but if you've got gray hair, they matter a lot more. And I guess the question is, the shake-out we're seeing in general, not to, you know, liquidate and pay the couple of gains top, which builds in what, a 35% decline or something. So it's specific to each individual. Now, one thing I would comment on is, I like, Jack Bogle had this rule for estimating... And Jack Bogle... Jack Bogle, the guy who founded Vanguard in the first index fund. But he wrote a paper with some other guy putting a number of years ago and said, I want to estimate long-term returns. You take the dividend yield, add long-term earnings growth, and the adjustment in the P.E. ratio. So if the P.E. ratio is low, it's going to converge, go up over time to some long-term norm, it's going to come down. Interesting. So I used 46% earnings growth because 46% global nominal GDP growth is for global index. The dividend yield was 2.3. Yep. So you were getting a headwind of minus 1 to 2% on the P.E. converging tax system. Yep. So you ended up with... Very interesting strategy. He used this to determine if companies are undervalued. Wow. You don't have a lot of money. No, but now it's six and a half to nine because the dividend yield is up about a quarter point and the P.E. ratio Okay. Cash is king. He still likes cash, but he believes that equities are looking more and more attractive right now, so we're finding a bottom, guys. This is the time to buy. This is about the time to buy. This is about the time to buy. Okay, guys. Is your boy rich? Thank you for joining me on my drive here. Literally just pulling up to my crib and I might come live to you guys later. Depending on what's up. If there's any breaking news. Anything to talk about. I might just come live to you guys or I might do a video. Literally just pulling up to my crib right now, so... Thank you guys for joining me today. Like I said once again, I wish you guys a happy new year. Hope you guys are having amazing holidays. Spend time with your loved ones, your friends, your family, your kids. If you don't have any family, then we're your family. You know? Join us. We'll be your family. We'll support you by giving you attention, a place to have a voice and a place to have some fun and have a family environment, because here at Rich2BeLive we are a family. We're a unit, so... Thank you guys for everything. I appreciate all the support and, man, without you guys none of this is possible. It's true. It's true. Without you guys, none of this is possible. Like I said, I'm just an average guy trying to do above average things and thanks to you, the people, those above average...