 Good day, fellow investors! I have made the videos about stock market crash, economic collapse, discussing things that can happen. But my goal is not to scare you and there have been some very very interesting value-adding comments and I'm going to try to make a video a week where I really touch on those interesting value-adding comments to maybe clarify some things, put things into perspective and give the best long-term perspective on what's going on. So today we're going to go through some comments mostly related to the economic crash and economic collapse video and then I'm going to discuss what am I doing, what am I, how am I prepared, how is my let's say portfolio or mindset now for what can happen in the future and you will see that I'm not trying to scare you, I'm trying to prepare you, which is a very very big difference. Let's go through the comments to clarify a bit things and as I said I'm going to do my best to cut out the best comments and discuss them in a video every week. I think it's the best value-adding solution and the best interaction between us. All right, Rafi Arends is saying this person is trying to scare anybody. As said, I don't want to scare and I think I'm just showing what can happen for you to be prepared and the key for my saying is that being prepared now doesn't cost much and that's my message. I don't want you to be scared, I'm not chicken little, I'm heavily invested as you will see later. The key is that I want you to be prepared for whatever happened and say okay this is a possibility, this is a possibility, these are all possibilities, am I ready for everything? When you're ready for everything, you are not a speculator, you are an investor. All right, then we have Hadi Shams Jaze, I don't know Sven, for how many years are you guys saying this stuff and it has never happened? Will a minor recession happen in the next 10 years? Most likely, but you are saying that should wait on cash all the way, it's terrible advice. What am I saying is something called rebalancing and also when investing you rebalance again. When stocks are high, you have a certain part of your portfolio in the stock market or whatever you like to be invested in and the hedges are a little bit larger. When stocks are cheap, you are overweight your stock portfolio and the hedges are smaller. That's my message, so over the past nine years I have enjoyed beautiful returns which makes me okay, should I be even more, even greedier? No, I should okay, be happy, be thankful for what has happened over the next nine, 18 years that I have been investing where I have achieved amazing returns that have allowed me to do things in life that I thought never would be possible, so that's one. But sometimes in life you say okay, was it enough or should I be greedier? Now I'm at a level where I say okay, let's back up a bit, let's take perspective, let's say take some time, the market won't go anywhere, the market will be there in 40 years. The question is whether will I be there? So that's my perspective now, not trying to scare people, trying to put things into perspective. Further, the third comment Warren Buffett or any sane investor I know says keeping cash is the worst option, but you preach it. You also preach gold. Are you trying to see the price of gold not fall more than it has because you own a lot of your gold yourself? First, when I say cash, I mean anything liquid in the next two years with a principal guarantee. So for me cash, a two-year treasury that yields 2. something percent is cash. So that's something I have to put into perspective. Gold is a hedge and I haven't been buying gold before, what was it? I think the last year that I started accumulating gold miners a little bit. Before that, two years. Before that, I didn't even look at gold because it wasn't necessary. So I'm hedging when I see that the risk reward is okay for the hedge. Maybe I'll lose, maybe I'll win. If I lose, it was a hedge and that's what I'm saying. People should be hedged, not run 90% into gold and cash. Just be hedged. Further, a very interesting comment from our friend about Kuchko Copper corporations seems like way undervalued in terms of net present value. They do have a stream on their precious metals, but exploration potential plus undervaluations look super attractive. Now, junior miners like biotech stocks are very, very volatile. You really have to dig into deep, look at all of them and find okay, these are the best risk reward situation. Look at the history of how these projects are developed or not developed and then find the investments where you can put one, two percent of your portfolio, but you have to expect that you can lose it all or you can make it big. So that's a different investment strategy and very, very volatile. So it's like a casino. Don't get too infatuated with those stocks because you might get burned. So either you are a geologist, you understand the structure of the ore, how it will be mined, what would be the cost and so to put perspective on what's going on. Miners, remember, are liars next to a hole in the ground. Junior miners are liars just next to some ground because they haven't yet excavated anything. So just putting things into perspective, I will look at the company, I'm always interested to see how can I find something interesting and learn about it. It's not said that I will invest in that. A very, very interesting comment I think really that makes the point of everything on this channel is from Martin. There are just too many possible scenarios for you to figure out what will happen. Cash is a very bad long-term idea. In five years of a continued non-crash event you might lose 10-20%. A drop of 8% from all time highs is nothing but little volatility. PE ratio of 24 is okay. China and Russia are clearly undervalued and I might be very biased as I am a very early retiree, I don't have a business. So fearful and afraid to lose that condition. The money that gets deployed in the stocks is not going to be in use for some 20-30 years and he has a value growth strategy and stays away from highly indebted companies. So Martin tells us correctly, nobody knows what will happen in the future, if you buy good businesses you will do extremely well over the 20-30 year period. So as said previously, I'm just trying to be prepared. I am long stocks. I think my sons portfolio is about 40% in cash now and 60% long diversified stocks with some hedges. So I am there and as I said I'm just positioning myself in the best way from my personal perspective. On China and Russia, China and Russia are cheap for a reason and one should really be careful when investing in those companies and that's something we will discuss further on this channel as always. So really know what's going on there, not take the numbers for granted. How am I prepared? Yes, I have a business, I do asset management, have a small fund, I do market research, I write a lot, I sell that what I write. I have my YouTube channel, thanks to you and I plan on adding more value on this channel to you by really getting into the depths of the mechanics of how to invest now and of where to invest now but that's a project that I'm developing now. So you'll hear more about that later. So I have a business and when that business starts grinding I will go back to the dollar cost averaging strategy that I have been using over the past 18 years which has delivered enormous returns for me. So that's one. I'm just looking at things from a 50-year perspective. I'm in no rush to buy stocks now. I really want to see okay what's going on, what are the risks and really put my money where I know it will do well. There is so much economic disruption, tech disruption. The world won't be like it is now in 10 years and I'm just sitting back a little bit. Okay, let's see what will happen and how to best deploy my money. That's it. I will be again dollar cost averaging soon. Second plan. I plan on buying real estate every downturn. So every downturn of the cycle 5, 7 years, 10 years I plan to buy a piece of real estate. Take on that. So I'm hedged against inflation which you don't like cash. So cash is just a small part of the liquidity portfolio. I think it is now 10-12%. Real estate, stocks, real estate, gold hedges, silver hedges, mortgage hedges because I have fixed interest debt which if in case of inflation monetary easing I'm again hedged. So I'm currently in this reassessment phase looking at what's going on, no rush. There is 50-60 years of investing ahead of me. There will be plenty of opportunities. Thank you for watching. I hope I have clarified a bit things. Looking forward to your comments and then I'll try to comment on the most interesting, most value-adding in another video next week. See you tomorrow.