 Welcome to the last set news. This is Rob, and this week I'll be out for a vacation but there was a video we did about a year ago and The information that we put out back then is just as valuable as it is today And we're going to talk about is some sage words of advice from one of the only gentlemen One of the few to beat the S&P 500 as far as the hedge fund as Peter Lynch He's going to give you some of probably the best investment advice I have ever heard in my life and how it pertains today in this bear market and of course in the eventual bull market, which Are just a natural cycle. So without further ado, I just turn it over to Peter Lynch today Just like the thumbnail suggests this is some of the best advice I've ever seen as far as investing everyone do is we're gonna take a look as we're gonna take a trip down memory lane and Take a listen to Peter Lynch. He was the president of the Magellan hedge fund Which is one of the most successful hedge funds almost of all time. It's out to the S&P 500 numerous years and he's gonna talk about how there's a lot of things to be concerned about and you really shouldn't be too concerned About these things on top of the fact that what goes up must come down and then if we just kind of let go some of the fears usually things work themselves out and We'll take a look at what's going on there on top of the fact that Wells Fargo starts offering crypto investments to clients Which kind of odd because they just told everybody to stay away now all of a sudden just like every other bank and Institution out there now they're all getting back into crypto currency assets and offering it to their wealthy clients surprise surprise And then we'll take a look at Cardano finally getting approval for listing in the tough Japanese market This is great news as far as in the Asian markets But this is where the heels of Cardano coming out with their smart contracts as the Alonzo integration rolls forward And we'll see that around September and then finally we'll take a look at what's going on with the charity for the D news Cardano's stake pool. So what I want to do is just get into today's top story Which is of course the Peter Lynch crypto lessons and I found this one fascinating this one It's from YouTube channel called investor center. It's a definite Subscribed to I actually tweeted this out two or three days ago and I'm just gonna have Peter Lynch talk to you about what this was this was back in 97 This is quite some time ago and you might be asking yourself We don't familiar like who's Peter Lynch and why is Rob talking with Peter Lynch? Who cares? Well Peter Lynch manager of the Magellan fund at Fidelity investments between 77 1990 Lynch average a 30% annual return, which is consistently more than the S&P 500 making it the best performing mutual fund in the world and I think maybe perhaps ever and What was shocking to me is that a 30% return and people like oh, it's just a mutual fund But I mean how good is that well over time mutual funds don't do that hot? And if you remember this thing called Buffett's bet But Warren Buffett came on said look you guys are overpricing everything. You're making too complex Everybody should invest in the S&P 500 as far as an index fund and he's and in 2008 He issued a challenge to the hedge fund industry all of them and said Look, I will pay you a million dollars if you can beat the S&P 500 over a specific amount of time It was like a 10 years and the only one that took him up was protege partners and The fears what happened protege co-founder who left the fund in 2015 Conceded defeat ahead of the contest scheduled wrap-up on December 31st 2017 states for all intents and purposes The game is over and I lost so that's very telling just so you know That's all of the hedge funds out there I mean million dollars is nothing to sneeze at right and they all just said nope We're not taking that only one did it and they got the pants beat off them So that's why it's so impressed to me that Peter Lynch could come here and do 30% which is way more than the S&P 500 which is roughly 10% so he could 3x it So this is why I like to listen to smart money So I'm just gonna let Peter talk to you about why it's just important just to calm down Take a look at the big picture and it doesn't really matter if you don't know where things are going because guess what neither to Peter Lynch Let's take a listen. See everybody's got the brain power to all the start my question is whether you have the stomach That's the key organ in the body. There's always something to worry about in the 50s. It was depression and nuclear war The 50s was the best decade this century The stock market Except for the 80s only slightly better. These are only slightly better people. They expect a lot We don't okay. Wasn't a great decade. They just didn't expect much we made it through and stock market was terrific German oil went from 4 to 40 remnant my period oil went from 4 to 40 and The experts said it was gonna go to 100 and all the countries of the world in a bankrupt and Then in the big banks are no bankrupting. We're gonna have a great depression and the stock markets go down and you don't wind up selling pencils and apples, no the Well, I'm going to oil one from 4 to 40 and the experts said it was gonna go to 100 within two years Well, it was at 14 the experts now much higher paid at this point are saying it's gonna go to four and we have a depression And people believe it again, you know, the I remember when the money supply was going too fast. They said we're gonna have a depression There was going too slow. We have a depression Remember the LDC debt Remember the LDC debt all the banks our banks are very smart They land all their net worth is in Bobway and Botswana and both of us on all these countries Chile a lot of countries that can't pronounce It's a chase Manhattan and chemical or manufacturer's handover These countries weren't doing so well. Then they were called undeveloped countries or less developed countries now You have to call them emerging countries. It's not politically correct to call anybody an undeveloped country so I just found out the other day that Term for somebody that's overweight is laterally challenged. You have to see this laterally challenged But these are LDC debt. They're all gonna go bankrupt and we're gonna have a depression Then the mid-east was gone the world remember that one the mid-east is on the world They weren't gonna buy our bonds and market crash and we're gonna have a depression Then japan was going to remember that one japan was going to have all the assets and they weren't gonna buy our bonds And we're gonna have a depression within three years the nikai dow had gone from 40,000 to 16,000 the banking system was in trouble And people said japan was going to collapse and we're gonna have a depression So I have no idea when the markets can go down and No idea when it's gonna go up. I'm totally shocked the market was 4,000 one half years ago and the law goes 8,000 I had no idea about this Very surprised to me, but I'll guarantee you the market will be a lot higher in 15 years. It'll be a lot higher in 25 years What's gonna be the next one or two years? I don't have any idea and if somebody in this room knows about it They're not telling it Or they're not in this room. They're down in springs So yeah, again, so how many people do you know that could have gotten into I mean you and just stocks Uh, or mostly cryptocurrency years ago, but they were told no no too risky. No, no, it's gonna get banned No, no china's doing this. No, no american government's doing this. No, no the banks don't approve of it Down down you go and now here we are And um, nobody knows nobody has any idea But I mean again one of the best investors of all time is like I had no idea But alls he did was play the long game and that's the ones who usually make the best games Just ones that play the long game and are patient And then the last one I'm gonna just finish up with this And this is just a quick timeline of just how much how expansive things are As far as in the traditional market and how I think it's gonna carry over the crypto markets. Take a listen I don't worry about that. I know we've had 96 years of century And the markets fall 53 times With 53 declines of 10% or more So 53 declines of 96 years once every two years we have a 10% decline of the 53 declines 1515 have been 25% So 15 and 96 years about once every six years the market falls 25% That's what we call a bear market, you know, you know that And it's gonna happen I don't care what is going to happen I would love to know I obviously it'll be very useful to know what's happening Doesn't make a difference to me corporate problems be a lot higher eight years from now a lot higher 16 years now a lot higher 30 years from now That's what I deal with Exactly. He just he pretty much just told you his whole secret. He's like, I don't care what's gonna happen the next month Two months six months a year or two years I'm gonna for the long haul and that's what I'm all about and that's pretty much the same thing here I don't know what's gonna happen tomorrow or the next week or a month. I see good things You know coming up, but I can't tell you when and again what goes down I think will go up eventually. It's not like it goes all the way down Even like here's a great example Even Hertz rent a car which was being made a fun of by everybody because all the millennial investors and gen x and gen y And gen z or whatever else it is They were piling into Hertz because it was such a low stock to buy But guess what it was in bankruptcy and they're making fun I'm like you morons. You have no idea But guess what all they had to do was wait And they came out of bankruptcy and guess guess who got rewarded the most The ones who paid for Hertz rent a car and I don't know how much it is right now, but uh, those guys made a killing So again, uh, just taking a look at history from the you know lessons from the past You can kind of see where things are going. Don't look at the short term when in doubt zoom out I see there's a lot of good things. I could care less. I couldn't excuse me I couldn't care less About what's going on today or tomorrow or next week or a month or six months I see some good things happening. I just don't know when