 Good day, fellow investors. Over the last week, the stock that I own in my portfolio crashed and I was bombarded all over the place, Facebook, LinkedIn, Gmail, here on the comments on YouTube section. So I decided to do an update on that position, but also give you a portfolio perspective, which will put things into a perspective that you will see how I manage also the risk and reward in the portfolio and how you, even if something bad happens, you are not really that affected. And that's also the message of this video in which I'll discuss my portfolios, my two portfolios that I manage on my stock market research platform and then how two stocks that I publicly discussed here fit that portfolio, which are Gatsprom and Chudian, the Chinese FinTech that was hit really hard recently. So before starting, we have to discuss my portfolios and the money I invest because I like to put my money where my mouth is also when discussing things on YouTube. And therefore I think it's extremely important to be transparent and I do the transparency, not all transparent on YouTube because I think if you just put the payment and then you offer a 28 day money back guarantee. So each one of you can see whatever I do for free, simply send me an email within 28 days because after 28 days, I can't refund you automatically. All goes through Stripe. So send me an email within 28 days. You can see everything that I do, all my portfolios, everything for zero. You'll get refunded by Stripe automatically and you can see everything. And therefore I think I am transparent in what I do and feel free to check everything. Really, if you see there is a lot of value in what I do, you stick and then you get all my work for less than a dollar a day. If not, if you have a different investment strategy or it doesn't save you research time or I don't know, then you simply ask your money back and that's it. I think that's fair. So in that line, I have two portfolios. One is the Lumpsum portfolio where I started with 100,000 that I invested over the first few months of 2019 as I got the cash or liberated the cash from other sources to start something Lumpsum 100,000 and I'm managing that without any additions. Which is a situation most of you are, a lot of you are, where you have a big Lumpsum portfolio or sum of money and you're looking how to invest that. So I started that in 2019, added all the money up till 100,000, in my case Euro, so that's 110K dollars and then I invested that. And then I have a second portfolio that I started when I started my research platform of 10,000 where each month I add 1,000. So I have started with 10,000 in May of 2018 and added 1,000 for each month since then, which is 20,000. The portfolios now, one is 145,000 euros, 140 something, 48,000 dollars and the other is 40,000 euros, 44,000 dollars. So I did good over the last year and a half and year in both portfolios and many asked the question whether it is too late to join my stock market research platform and I really think here to give you an answer which is more about investment mindset than investment current temporary short-term investment results. It's about the research. It's about the investing risk and reward. We are looking for value. Most of my picks were below book value when I bought them. So we're looking for a margin of safety and then let the upside come from wherever it comes from, unfortunately in 2019 or unfortunately it came. Unfortunately say because I was hoping I can accumulate more and more since I'm adding 1,000 each month and then I accumulate for 10 years and then if it explodes in one year then that's much better rather than having your portfolio go up immediately 40, 50%. But that's a different kind of a story. So what I do, I do research, I research stocks. Sometimes I do videos of them on YouTube and that's what I'm going to update and you see also the flow, the process. But if you just get one investment idea that fits your requirements then that's the value. That's the value of what I do. You can follow what I do on the portfolio. I send an email 20, 15, 20 minutes as soon as I write it up after I have made the transaction and that's how you can see how each transaction fits your requirements because investing is about you and if you have different sources, I am an independent source, let's say, your banker might be different but then if you have different sources you find what's best for you and how to best make financial decisions. That's the message. It's never too late, I'm a long-term investor, I look for businesses, I look for great businesses that will do well over the next decades and if you are of a similar mindset you can follow what I do and get value from what I do for your investment goals. Now let's go on to Gatsprom. Gatsprom is a stock that I bought at the beginning of 2019 because okay, there were risks, the management Russia but there was a feeling, so what was going on with Rosnev that they will start increasing the dividend payout from 10% to 50% which would probably lead the stock to double triple as the dividend increases and that's exactly what has been happening over the last nine months. Since I bought, Gatsprom went up significantly, they increased the dividend, it's now currently 13.66% of the LAMPSAN portfolio, 9.24% of the model portfolio and I recently did the complete portfolio, quick and dirty update and this is part of it. So this is one page update on Gatsprom, natural gas producer, it has the best resources in the world, pipelines to China now and here is my comment on what to do next, there's also an update on those that just follow the YouTube channel. The dividend yield on my initial position is still in double digits, is still a good dividend yield compared globally. The price earnings ratio is still in single digits and if they push that dividend payout to 50%, then the dividend will still double over the next two years and that's what the management has done over the last 12 months, especially if gas prices that are now very low go up, it might be a very, very good reward. When compared to the risks, with risks they can be sanctions, stock and fall but then I think given the source, the mode, the situation that I follow in Russia, it is still a good risk reward situation but then keep in mind the portfolio exposure because some that I think are good will go bad like we'll see later with Kudian, Chudian but that's always the portfolio risk reward and you try to balance everything within a portfolio which is a very important perspective and I'm hoping I'm giving that to you with this. So I also made the ranking list, the top company I gave one from a risk reward perspective and the lowest that I own a five and here you can see the Gatsprom is second, let's say from one to five, I gave it a ranking of two, it still has a very good yield, it still has a very strong potential future dividend yield, growth, mode, business, price to book, so a lot, a lot of positives there and therefore it's still a hold. Kudian, the stock that we'll talk about now is ranked on a level four, the best being number one to five because the business model and I like to invest in those business models that give me infinite upside, Kudian is a different story, it's more of a value net, net investment that has been very, very challenging since its IPO and since we or I purchased it. I have made or as I said in the previous video, I have made money on it already so most of what I have in Kudian are just profits and that's the position I am managing, let's see the update on Kudian. So what I said in September, I was saying it's still long, money made already, I would see whether I will buy more or not, evolving over the long term, the fundamentals were strong, the growth were strong, the management was very, very promising, Chinese FinTech, landing money online, it's huge customer base, but I also said be sure about volatility, the high interest rate is an extortion business, high regulatory risks, they are switching towards an open platform referral, so danger of changing business model and that's what exactly what happened, currency risks didn't emerge, business regulatory issues did emerge and I said also this can go to four in the video and that's exactly what happened, this was my video risk reward table, I don't think much has changed especially from a current perspective, but it can go down 50% of value, 15% chance, it can go to zero, that's another 10% chance, so 25% chance you'll lose your money, we are now down 50% from where I estimated, but this is a table that I make, okay, what is the risk reward over five years and that's how I put things into portfolio perspectives and then I rank them, given the mode, given the quality of the business, the management, et cetera and then I also see how it fits my portfolio. So, and I said in the video, it's just for speculative exposure and I hope that all those invested kept it as that in their portfolios because what happened, they changed their business model in November, that was a huge hit already and now they withdraw their guidance for the coming quarters, but announced also a 500 million new share repurchase program and here the repurchase program, if they have the money is good, but withdrawing guidance is never good because investors like certainty and they are saying, okay, uncertainty ahead again and they say increase the link with this, so we don't know what will the profits be on the money that they have lent out, they have been lending, they have now lent it out, so that's something that is a big uncertainty and we'll have to sit and wait and then I also made a portfolio update for my portfolio positions and I said the Chinese FinTech, this was before the announcement of withdrawal of guidance, fundamental is still cheap, but why I do not dare to do more because I'm more and more convinced investing is about finding great businesses that will deliver and make and keep delivering over time. Qudian, despite the cheapness is constantly changing and not giving me that long-term great business conviction anymore, it never did, it was always a risk reward and therefore you have the portfolio exposures of 2% and 4%. We will see in the future what happens, but if I buy more then I must be convinced that the upside is hugely positively skewed towards the downside. I'm not going to make more updates here because it's uncertain and you'll have to see how that uncertainty fits your portfolio, how the risk reward fits your portfolio. The links to everything that I do also to my free stock market investing course are in the description below. Don't forget to subscribe, click that notification bell so that you don't miss videos that are important and add value to you. Thank you and I'll see you in the next video.