 Good day, fellow investors. Last week I made the news about how one shouldn't be so much focused on the news but on the businesses he invests in. And I got this really, really interesting deep analysis email that I want to discuss because a lot of YouTube is focused on a crash, economic collapse, dollar collapse and all those things that are easy to sell because those are based on fear but one should be practical, pragmatical and approach those things from a correct perspective in a way that you, okay, in 10-15 years I want to achieve the best financial results for me. Let me show you the email first. Underlying factors that affect the metrics I used in my article, price earnings ratio, valuations, etc., are the role of the ESF in market rigging, your US Treasury exchange stabilization fund, stock buybacks from the new tax code, how they are fudging the numbers I'm working with, the key role the central banks are playing by keeping interest rates artificially depressed, thus not exposing the true cost of debt servicing, the sheer number of zombie company and historic high levels of BBB bonds, junk bonds and historic levels of debt with governments, high levels, probably Ponzi schemes and also corporations. And then the email goes how I should contact Peter Schiff, Gregory Manorino and I would quickly get to 100,000k subscribers and I agree with all those points but my perspective is different. I'm not trying to sell fear, I'm trying to sell common sense and trying to get investors to think about the risks and rewards and how can they be well off no matter what happens. Unfortunately on YouTube the crisis crash topic is very very hot, the algorithm promotes it and if I put stock market crash in the title as I did in this for this video, I get four times more views. However, if I make an analysis of a stock I get one quarter of the views, if I do a value investing podcast for long-term investing then we get one tenth of the views and I think that the value is the highest with the podcast then with the analysis of this stock and then with the stock market news. Nevertheless, in this video I really want to put the topics of market rigging, buybacks, low interest rates, zombie companies into an investing perspective because there is a big difference between investing and protecting yourself or trying to get the highest return with the best risk reward scenario. So let's start. Something to keep in mind always, yes there is debt, the markets are irrational, interest rates are irrational, are skewed, are rigged, the dollar is rigging, the treasury is everything but markets can remain irrational a lot longer than you and I can remain solvent. John Maynard Keynes, this is something to always keep in mind, can I take advantage of the markets irrationality or will I go against the markets and can I remain solvent while the markets do whatever they are doing. The main question is now how to invest, we'll discuss first on the topics, the market rigging I'll give a perspective but then the main question is how to invest and that will be after we discuss these topics. So market rigging I really am convinced yes there is market rigging, there has been and there will always be market rigging. So what you're gonna do about it, irrational it is, it will be, it will remain and probably they will never become rational. So as an investor I have to think okay how can I take advantage of market rigging. Just an example of market rigging on silver markets, 1980s the Hunt brothers went, leveraged themselves and bought 30% of the global supply of silver and silver prices spiked from six dollars per ounce to 50 dollars per ounce until regulations stepped in and limited borrowing and then they didn't went, didn't go bankrupt that fast but later over the next 10 years. So market rigging be it individuals, be it companies in copper you have a lot of rigging, in gold you never know who is the buyer, who is the seller, you can call it rigging, you cannot call it rigging, it doesn't really matter. You have to see okay what am I going to do and remember the market can be irrational for much longer that you can stay solvent. Next buybacks to top use of SAP 500 companies cash in 2019 and then I agree again with this buybacks skew the ratios skew the returns. Most buybacks are not smart from my perspective but probably very smart from the management's perspective but that's their job is to always say that our business is the best investment and then you cannot counter that in the short term but think general electric they did a lot of buybacks but they didn't end up so well. So as an investor, as a business person, as an owner of businesses I have to think okay which are the buybacks that are increasing value like Berkshire Hathaway below 1.2 book value or now below their estimated intrinsic value and which are the buybacks that are destroying value. I'm not investing in the SAP 500 therefore I can pick individual investments that create value instead of destroying value. This is of course easy to sell buybacks overvalued companies price to book value free but then if you dig deeper okay where can I take advantage where can I lose money. Artificially depressed interest rates the Fed has just started slowly raising interest rates as soon as it got to market turmoil the power pause came so he stopped raising interest rates not to disturb the economy so it is an artificial environment it has been for the last 10 years interest rates in Europe are still at zero Japan also so it is an artificial environment it has been for the last 10 years nobody expected that it will last so long 10 years ago everybody expected inflation higher interest rates it didn't happen so the market can remain irrational much more than you can remain solvent how to take advantage of it I've been buying businesses and also businesses with protection for gold for example 2018 my largest investment was nevson resources they have the team of project and it's a copper mine but 40% of expected revenues come from gold which people overlooked so I was protected by a 30% stream revenue stream of gold for the long term and I got that for free so that's the kind of insurance I want and that all again brings and that again brings you down to okay I'm investing in businesses not fear not general markets if you invest in businesses you can find insurance for free and growth from a business so you can have it both that's my message and here I want to give the better perspective on those fears that the markets are rigged and etc you can have it both have insurance and protection for example now I'm exposed to silver and I think that if someone looks at my portfolio nobody will ever think that I have exposure to silver because the market doesn't see it and I like to think that I get that exposure for free corporate credit let me go back to the hunt brothers what saved the situation a consortium of US banks provided 1.1 billion line of credit to the brothers which allowed them to stabilize the market survive blah blah blah 2009 the banks were bailed out car producers Europe is still bailing out their businesses by printing money printing money the Fed did that so we have to think okay what will they do what happens if they print more money if everybody's chasing investments not gold then you have again an irrational market but you might not get the best of it if you are invested in a lot of protection in a lot of insurance so you have the option to invest your money and then you can see okay if I invest 1000 and I get investing businesses I take a take advantage of value investing I buy with a margin of safety I get 15% per year and I'll show you on Sunday I'll make a video on archer Daniel Midlands which is now at 9 10% but other businesses as this might fall to a 15% yield over the long term and then it's food it's commodities so again you have protection against inflation plus you have a business with 89 years of dividends so you can have it both and this is where I defer from all the fear sellers on YouTube I'm not stupid I know there are the risks are there but I'm looking okay how can I have it both and just to give you a better perspective on also structuring your portfolio so if you invest 1000 with 15% per year it after 15 years it is 8000 if you invest 1000 in gold and let's say the dollar in 15 years which is possible given all the risks we mentioned loses 50% of its value due to inflation gold should be your 1000 should be a 2000 so the difference is four times over 15 years and think of it you can have it both if you apply if you look if you give yourself the time to structure a portfolio also since 2008 the crisis the Vanek gold miners ETF again I'm against ETFs I prefer investing in businesses I just sold my one of my gold miners because the business did well and the stock appreciated I'll make a video about that next week so I am focused on investing in businesses where you can get it both both the protection both the growth of a business four years ago Europe was just exiting a crisis the situation wasn't that good I took a loan I bought a house I did really really well back to the gold miners 2009 I was buying stocks five baggers up to 2015 I did really really well because I didn't listen to the fear that fear really explodes when things go down and wrong and I'm always saying you can have it both if you think so think about it keep it rational think about okay in 10 15 20 years how can I get the best of my investments risk reward yes these are the risks that we mentioned okay how can I do well are good businesses going to do well yes our bad businesses junk bonds junk credit are they going to do bad yes when those go bankrupt eventually the good businesses will take them over at cheap prices or have less competition and do even better so that's always that's also kind of protection that pays you dividend that has earnings that offers growth which the insurance part buying gold buying puts don't offer and they are a cost insurance is a cost investments is a positive benefit so I agree with everything they say that the dollar is about to crash the corporate world can crash etc etc but I have to be smart and I have to look at the ways okay how can I make money plus there thousands of stocks that are down 50 over the last year during the turmoil so if you want to crash it happened in 2018 you just have to pick the value where it is thank you for watching see in the next video about archer danian midlands on sunday monday probably bungee to close this sector about food stocks and then we'll go to a new sector so please subscribe if you haven't check my website for more information more resources my book whatever might help you with your investing results over the long term