 Good day, fellow investors. Welcome to the stock market news with a long term fundamental investing twist. Today we're going to discuss the Fed's meeting minutes, what is the Fed seeing and why it is not raising interest rates, global growth that is slowing down, which might be a concern for some, US economy, US growth, taxes. And then we're going to give an overview of where is the stock market, where is the investing, our portfolios, where are those going to go over the next 20 years. It's pretty simple. Let's start. So as I said, the Fed is not going to raise rates. So they have hit their target range of 2, 2. something percent, and they will keep that unchanged. Something to discuss. The lowest growth, global economic growth, since the financial crisis, something to keep in mind, and let's see how that affects our investing and what you can expect in the long term, extremely important. And people easy miss the top point. Let's start with the Fed. Something the current rate is close to the neutral rate. And that should be it. So 2%, 2.5%. Let's not touch it. The economy has slowed down when it comes to growth. So if we keep raising rates, we might lead it into a recession, let's postpone a recession for as long as we can. So let's manipulate the market. Let's say improve the market, keep things stable, which is their goal, inflation low. And with so much free money, it's easy to keep inflation low because there is so much competition that simply prices don't increase much. Maybe it will change one day. Maybe not. Who knows? For now, this is the situation. And the situation tells us that the Fed, ECB, Bank of Japan, Bank of China, they will do whatever it takes to keep the situation as is. Most people in the developed world have a great life, easy access to capital, things are growing, there is a lot of building, high employment, low unemployment, things are great. So as long as they can keep it like this, good for them, good for us. The main point from an investing perspective is how can I get both? I want to get exposure to the Fed's manipulation or the Fed's helping the economy. I want to get the piece of that. So I need to be invested. On the other hand, I have to protect myself for when the Fed eventually loses control. It can happen tomorrow. It can happen in the next 10 years. So when the Fed loses control, it will probably be inflation because there is so much debt. So I want to have assets that give me protection from inflation. We discussed fertilizers that are, let's say, defensive on that side. Other assets you might want to check real estate if you can find something cheap, again, over value investing. So if you buy value, no matter what happens, you will have both the good side of a business and protection. That's the main message of this channel. Timing the market, being mostly in cash where the inflation is 2%, the yield is 2.53% is very risky because the same situation as it is now has been going on for the last seven, eight years and those who sold out in 2007 or 2011 missed on a lot of gains with low risk and high potential reward because value is always value and the volatility of the market gives us opportunities. On global growth, we have this title from Bloomberg, lowest global growth since the financial crisis. Let's get scared. Let's imply that into our analyst models and forecast stock prices. However, what I see here is the last 10 years, global growth was around 3.5%. Since 2000, with the financial crisis, the average has been probably 4%. This means that over the last 20 years, despite the global financial crisis in 2009, the global economy more than doubled. It will probably double again in the next 20 years, even if there will be probably one or two recessions, maybe smaller than 2009, but keep that in mind when investing. The economy will again more than double global economy in the next 20 years. What will stocks do in the next 20 years? The same as those did in the last 20 years, with ups and downs, but stocks more than doubled in the last 20 years. Given the current price earnings ratio, the lowest tax environment that we have seen for a long, long time in the US, probably the lowest point of taxes as some have been also already advocating for higher taxes and given the debt, we might see increases in taxes, but this is not that significant over the long term. Even if taxes go up, that will be a return difference of 1%, or something. The current price earnings ratio is 21%, leading to with the growth, economic growth, to a yield earning yield of 5%, be it dividend. So investors can expect 5% over the next 20 years from investing in stocks, in this case the S&P 500 now. So if you're happy with 5%, forget about everything else, buy stocks constantly over time every month in the S&P 500 index or other indexes, you'll probably do better than 5%, especially if you buy when there are those drops, those crises. So that's it. If you want more than 5%, and I think there is opportunity for those who look where the markets are irrational, there is the possibility over the next 20 years to do 10%, 15%, but you have to put effort into that. And if you're willing to do that, you might even reach higher returns. The payout is really, really important and really significant if you're willing to put up the work. Now, if we invest $100 with 5% yearly return for 20 years compounded, we have $265, 10%, $672, 15%, $1,636. So more than double with 5%, 16 times more with 15%. So the mission of this channel is to help those who want more than 5% per year. Now, everybody's saying it's difficult to beat the market, it's impossible to beat the market. I would say that in 1982, when the price earnings ratio of the S&P 500 was 7 leading to a yield of 14%, 15% given the growth per year, it was hard to beat the market because the market was giving you 15% already. So in the last 45 years, hard to beat the market. Less 20 years, much easier because the market went up just 5% per year. So over the last 20 years, I think a lot of people did beat the market, who did simple value investing and looked for businesses around the world and carefully assessed the risk and reward. This is the message of this channel. So please subscribe if you want more than just the average. How are we going to do it? Long-term advantage is what we are looking for. We are looking for the 20 years. Everybody's focused on, oh, weakest global growth this year, but few are focused on, okay, the economy is going to double over the next 20 years. Some sectors, fertilizers are probably going to quadruple over the next 40 years, the good businesses, so 20 years. So that's our view. We are looking for value, margin of safety. We can't lose money if things go bad, but we make nice returns if things go good. Looking forward to the comments. Thank you for watching and I'll see you tomorrow in the next video where we'll discuss the portfolio. Sunday we'll make an Uber lift discussion just to see what's the key when it comes to investing in such IPOs, then we'll continue with fertilizers to stock to discuss, etc. Thank you for watching, subscribe and I'll see you in the next video.