 Good day, fellow investors! One of my favorite quotes from Peter Lynch is I've always said that if you look at 10 companies, you'll find one that's interesting. If you look at 20, you'll find two. If you look at 100, you'll find 10. The person that turns over the most rocks wins the game, Peter Lynch. So I recently discussed Daimler and said that I would think about it at 30, and this was the comment. With this kind of analysis, you will never buy a stock. You are way too conservative. And I said that if you look at 1000 stocks per year, you'll find a few with my kind of conservative analysis. And that's enough. And that's exactly what Peter Lynch was doing, and that's exactly what other investors are doing. They are researching, researching, researching, researching in order to find the best investments to watch. Peter Lynch, okay, he looked at 10 companies, he found the one because he was invested in 100, 200, 300 companies. Some are invested in a much smaller number of companies. So it depends how much time you have to do research, how much time you have to analyze stocks and how much time you have to follow what's going on. And when a stock, certain stock hits a buying price. Now you might think it takes a lot of time, but it takes a long time, not a lot of time. If you focus, you find you look okay, I'm going to look at 10 good companies, good businesses, and I'm going to follow those 10 stocks and nothing else. Even better if you're a little bit diversified. And then you say, okay, I'm going to spend an hour a week learning what's going on, seeing about the business. And then you say, okay, this is the intrinsic value, this is the price I would like to buy those stocks. And if you look at it at 10 year perspective, I bet you that each one of those 10 stocks will fall somewhere in those 10 years below your buying range when you will load up on it. And if you just do that, you patiently follow 10 stocks, you wait for one of those here and there to drop below your radar, then you will have a great advantage over whatever your investing strategy is now. The key is to do that over a long time because you start following a company, you need time to learn a company, you need time to understand something. And then you say, okay, this is a company that goes on to my long term watch list. Remember that your investment horizon is probably 50 years, if not longer, if you're younger. So there is plenty of time to invest. People usually rush and we have to set up our portfolio now. That's wrong. You will set up your portfolio over the next 10 years for the next 50 years. And that's how it should be approached. Let me show you another comment. So Pasquale says, let's assume you have found a stock you never heard about, a sector you know fairly well. How much time of research analysis would you need to buy the stock? And then Raimundo replied, Pasquale, approximately three hours. Then Pasquale said, okay, 10, 20 hours. And then I came and I said, well, in order to really know a stock, it takes about two years because you need to get to know a business, you need to know the management, how they react to what's going on, what's their situation, how they solve issues that each business will have. You listen to a conference call, you go through eight reports, you learn about the sector. So for a big position like I had in Nefsund this winter, I would say at least a year of time. And then Pasquale finishes with, however, it's not realistic to study a stock for two years before buying it, especially for those who need to build a portfolio from zero. It means that if someone wants to start investing today, he shall buy the first stock in two years from now. And the stock may be undervalued now and probably it won't be anymore in two years from now. My message here is be patient, do the research, learn, enjoy the research process and wait for perfect buying opportunities when you are sure of what you're doing. Anything else buying after an hour, two hours of analysis is betting. And unfortunately all those that bet don't have long term sustainable returns. Follow the market, research a few stocks and you'll do well over time. The more you research, the better you'll do. That's the message from me and from Peter Lynch. Thank you for watching. Looking forward to your comments. Stay tuned for more advantages that we can have as individual investors. See you in the next video.