 Good day fellow investors! A comment that I really wanted to do a detailed answer is Project Brian gave a great comment. Do you feel that low interest rates have forced people who are risk averse that would normally not invest in the stock market to invest in the stock market? Do you think that this will have consequences when the stock market goes down? I feel like many people have been forced into a risky game and that they will be angry when there is a down turn. So I really think people have been forced to chase yields. I have had so many friends, people that know me, relatives ask me, oh I went to my bank, the yield was 0.25% and they said I should invest in funds. And then I go crazy because yes, the bank tells you invest in funds because that is big profits for them with huge fees from the bank, not from the fund. The bank charges the fee. So that's something crazy for me and then the risk is not for those people. They should stick to savings or I always told them invest in real estate. If you have enough money, buy something, give it so that someone manages it and forget about it and be happy with the free 4-5%. When I was telling that to people real estate prices have jumped 50-100% since I told them that but that's differently. Funds have also done well but not all funds and not in the diversification the bank offered them. So that's crazy. Further also what the banks are selling are high yield funds and that's something even crazy in this yield chasing environment. This is the European high yield index fund yield. It is at 3.67 and it has increased significantly over the last in this year. It was about below 3. Now what does this high yield mean? This does not mean you will get a high yield. It means you own a junk bond. Junk. Do you know what junk means? So this is what banks are selling to people. They are selling oh look you have here high yield which is a great name to sell something that offers 3.6% in Europe and a lot of poor people that don't know about finances invest in such schemes, such vehicles and that's something crazy because for the high yield for the junk of 3% returns they risk to lose 50% of what they own and that's crazy. Better stick to the saving return. Let me show you what junk is. So high yield bonds investment grade and high yield high yield bonds are also referred as non-investment grade or junk bonds. This is from Fidelity which means that pertains to bonds rated BA1 and lower. Let's look here at Moody's ratings. So you have investment grade from A to BAA3 and then below investment grade junk junk junk junk. What does this junk means? Here are Moody's long-term definitions. So if you go down below A, BA, so substantial credit risk, high credit risk, C very high credit risk, very near default likely in default and C in default. So those very high credit risk are yielding 3% and these vehicles are being sold to the people. Crazy. What does this high risk mean? It means that any shock to the economic environment is likely to have the stock downgraded, the bond downgraded, the company going in default or the country. There are plenty of countries with 3% treasuries, 10-year yields that are junk countries that will go into default when the next recession comes and that's something crazy and it's not okay that people who don't understand this are being lured by banks, investment bankers to invest in such vehicles and this really hurts me because I know the pain that will come afterwards when all those savings are lost. So unfortunately the investment world works like this. I'll do my best to continue and to educate people about this and that's why I made the special videos about the chasing yields problem. Always think about the risks, understand the risks and don't invest in something that's called junk if you want to be sure about preserving your capital and not losing it. Thank you for watching, please share this with people that are chasing yields so that we help them in the long term. I'll see you in the next video.