 Hi everyone. Good evening everyone. Okay, if you can hear us, okay, can you type out? What do you feel is the what's happening to the market right now? Do you think there's a lot of volatility? If you think there is a lot of volatility, maybe we can type V. Or if you think that there are a lot of opportunities, then maybe you can type O in a chat. So let us know what you think about the market. Do you think it's volatile? Or do you think that it's actually full of opportunities? Alright, so in the meantime tonight, it's going to be super, super exciting because not only me, I have Isabella here. And in fact, right just now she was just going through her material with me. I saw that, wow, there's a lot of very, very useful insights that she's going to share with you into the market as well as really guiding you through, right, together with us in this webinar. How can we navigate through this uncertainty? Alright, so in the meantime, for those who just came in, you can see that Eugene's state that it's going to be opportunity time. Okay, market is already open. It went down a little bit today. Okay, let's see what opportunities are there. How about other people? To you, do you feel that it's opportunistic or do you think that it's volatile right now? Hi, good to see every single one of you. Fantastic, right? So in the meantime, okay, let's get Isabella to start sharing. Okay, and feel free to ask us additional questions if you have throughout this sharing and also share with us what are your thoughts about the current market as well. Okay, so Isabella, let's get started. Yay, thanks, Chloe. Thanks, Chloe. And thank you for the people who are treating with us at such a late timing. Yes, the market is open already. We are also excited about what's actually happening in the market. But nevertheless, thank you for tuning in with us. Let me just open my slides. Give me a while. Yes, this is the one. Okay, probably can see my slide, right? Yes, I can. I can see you right now. Yeah. Okay, cool. Okay, just wanted to say that at first we actually invited Mary to come for this webinar, but then she's not feeling very well. So unfortunately, she couldn't join us. But regardless, you're going to get a lot of value. You're going to learn a lot from both of us as well. All right, so let's get started. Okay, so today, we are going to talk about this very interesting phenomenon about the market right now. Yeah. So a lot of people have actually wondered, you know, and a lot of people have actually wondered what's happening to the market right now. Is it money going out? What is going down? What is going sideways? It's a lot of noises in the market if you guys actually think about it. So today we wanted to give you a bit more clarity on how can you navigate the market amidst all the chaos that is happening nowadays amidst all the noises in the financial industry, in the AI, you know, in all sorts. Okay. We want to give you a particular roadmap or clarity on how you can continue investing as well. Right. So without further ado, yeah, this is the gist of what we are going to cover. Is it too uncertain to invest? Right. Let me show you something that is very interesting that I actually researched earlier and I share with Chloe as well. While Issa is sharing the screen, maybe you guys can let us know as well. Do you think it's uncertain to invest right now? If you feel a little bit of uncertainty, maybe you can type U in the chat. U stands for uncertainty. Yes, Issa, we are seeing your screen as well right now. Okay, cool. Right. So according to this T matrix, the earning insight actually being published on the April 6, 2023, the earning for Q1 2023, the estimated earning decline for the S&P 500 is actually estimated to be about 6.8% decline. So what it says that if 6.8 decline is the actual decline for the quarter in Q1 2023, it will mark the largest earning decline reported by the index since Q2 2020. So guys, what happened in Q2 2020? Let us know. Let us know. Yeah, guys remember, it's only like less than three years ago. It's like three years already. I think really time flies. Without realizing. Yeah, I believe everybody still remember that day where the news becomes so big, you cannot go anywhere because of the lockdown and then as a result, the stock market tank tremendously during that short period of time. Yes, I still remember that before the market actually, before the whole, all the countries closed the borders and all, I was still in US. I was like, oh, I was still in US and I came back and everything is locked down already. So it's pretty wow. Everything moves so fast kind of period. Yeah, so let me just continue. If you look at the earning decline Q1 2023, we're expecting a estimated 6.8% decline in terms of earning guidance for Q1 2023. 78 S&P 500 companies have issued negative EPS guidance and only 28 guys 78 S&P 500 companies have issued negative EPS guidance. There's only 28 S&P 500 companies that issued positive EPS guidance. What does it mean? Let me show down a bit more. Usually, right? There's only about 97 companies on average to actually announce their transparency in terms of their EPS guidance. But as of 6th of April, 106 companies have already issued. And we could see that majority of those companies have already issued, right? Are pretty pessimistic about the Q1 result, right? So there's a lot of noise that is happening in the market. And let me go back to the slide because it's pretty interesting, yeah, of what we're actually looking at. Yeah, I'm super excited. I like, I think the audience, some of them are very excited as well. So if you look at this particular S&P 500 chart that I pulled out a couple of days ago, because I do homework, right? So I pulled out a couple of days ago, it's not the latest because since that, since 2022, rather late 2021, the market is actually on a very distinct, straight downtrend, very distinct, right? And what happened next? Recently, since about March, we saw a slow breakout from a bearish trend. There are certain gurus that I've seen online, there are certain people, I don't know, self-proclaimed gurus or people or investors, they say that the market has rebounded into a positive trend. Come on guys, look at my solid black line. Does that in any way look positive to you? I'm not sure about you, but for me, let me know in the chat what do you think? Do you think it's really positive? Because to me, it looks pretty much flat, you know, you know, guys, if you guys know that I was previously from healthcare, I call a straight flat line called ACE story, like, you know, the end of life, ACE story, like where your heartbeat is on the straight flat line, right? So it doesn't look, yeah, ACE story, I don't want to put it so bluntly, like end of life, so the heartbeat not moving anymore. So it's a straight flat line, it's not a bullish trend, it's a consolidation phase. What essentially is happening in market right now is that we are moving from the fall to the slim, that's all. We have not seen a very positive upward trend, right? Where high is getting higher, lows getting higher, that is a straight away bullish trend, but this is not, it is a consolidation phase, all right? So there's a lot of noises that is happening in the market as well, right? Silicon Valley bang, what is happening in Silicon Valley? What happened? Collapse, right? Then we also got the credit series, also collapse, essentially what does it say? Our, not our, the financial market in US is probably in a bit of chaos during then, there's a lot of fear in the financial market where Silicon Valley bang, but then guys, I want you all to be very, very certain. We can see that the people out there can see that the financial market is in a mess, people out there can see that the financial market is doomed, the banks are doomed in US, but then the question is, do we actually understand what happened to these individual banks that caused its down, this is failure? It is not, it is something that is, it's because of over-leveraging, because of derivatives that is actually tied down to mortgage or what, so wherever that causes downfall, like the Lehman Brothers in 2008, then probably, yes, the financial market is in chaos, but now, Silicon Valley bang is not because of that, it's because of over-concentration. Credit series, it's something that's been dragging for so long already, we knew what was the cause of it, it's not something that is sudden. And in all financial crises, all financial crises is not something that it is like, you knew there's a problem, and then you don't solve the problem, let the problem get worse, and then let the situation go out of hand, it doesn't work that way, right? So when the news already broke out, the government stepped in, helped the financial market support it, it did not fail as a home, you will see that the fact, what did the fact do, I mean what did the government do, print a bit more money lah, in the US right, print a bit more money, settle it, make everybody happy, and then everybody has confidence, and life goes on, right? And then the latest news we got, Mr Trump, our popular Mr Trump, he made a comment, a rather, he made a comment in the interview, what did he say guys, what did he say? Let me know in the chat, let me know in the chat, I can't really see your... We have more audience streaming in right now, yeah maybe guys, if you know what the Donald Trump say recently, maybe you can type it in the chat as well. Oh Yisra, you cannot see the comments at the... I wouldn't be able to see because I'm sharing my screen. No wonder, no wonder, well maybe you can occasionally unshare, then you can see what is happening to the audience right now, I think they're getting really excited. Okay, let me see, oh can say it's not a bit dangerous, oh hi Kelvin, Kelvin. Hi, all right, yes I think the audience are slowly typing their answers as well, but do let us know if you know that what happened to Donald Trump recently, what did he say, and Yisra can continue to share as well. Yeah, okay let me just go back to my PowerPoint. Yeah so Donald Trump, wow this Donald Trump, he created so much issues, obviously recently, actually not recently, a couple of weeks ago, I got a friend suddenly messaged me, my friend actually is my ex teacher in my primary school, he suddenly messaged me and said, Yisra, what do you think is the future of USD, is USD going to collapse because Donald Trump says so? I'm like, huh? So there's a lot of different cans of people with different perspectives on the USD, on whether the China, the Russian, the Brazil, whether the brick is actually going to take over USD, but guys, let me know what you think about it, let us know what you think about it, because we do have our own conviction about this as well. Let me, let me un-share screen, let me, let me, okay let me see, anybody commenting, ah yeah, guys you need to have an idea of what is actually happening, that one very important ah, okay, without, okay now nobody want to tell me your perspective, I'm a bit sad, but anyway, anyway that is a whole new topic, a whole new story for another time, but Chloe, what do you think? Okay, in my opinion, I think it's like, okay maybe in the first place, let me share the screen, just in case people don't know what is Yisra talking about, hold on, let me just find the article, okay, hold on, okay, this one, all right, so okay, there you go, let me share the article so that you guys understand the context of what are we talking about right now. Yeah, we have NW saying that it's BRIC, all right, so Donald Trump said that China is trying to replace the dollar as number one currency, so that's why a lot of people are, in fact also some of the students also messaged me as well thinking, asking, oh what do you think about, oh well, then will China IMB to eventually take over USD, then the power of US will diminish as a result? Well, I think this is a very long, I think it may eventually happen, because we can see that with China rising in the past few decades, it has been growing rapidly, but in order for it to take over USD as a dominant currency, I think it's gonna take a long, long time, especially we know that China also has this tendency to also want to control its currency, a lot of rich people in China, they actually want to get their currency out of, not in terms of IMB, they want to convert to other dollars as well, right, so that they have more control over their own currency, over their assets, so I think it will take a long time before this will eventually happen, so in the near term, or at least in the next 10 years in my opinion, I think US dollar will still be the main currency as a dominant global power, nevertheless, what do you think Issa? Honestly, for me, my overall think is I don't think that will happen in my lifetime, honestly I don't think, because if you look at the whole big picture right, this great currency is not the first thing that is happening in the economy, if we look into history, we also have our Euro, what is happening in Euro? Euro is stronger than USD, sure, but is Euro the dominating countries for all? No, everyone will see the composition of USD as well, how many countries are actually using USD in comparison to Chinese Yuan or Russian Rupees, is it Rupees? I don't know, yeah, so it's an entire new whole share one, it's a whole new knowledge by itself that we cannot cover in five minutes, but honestly, I don't think it will happen in our lifetime, we should do that the next time, I think it's very interesting to actually see how it's actually going to progress and stuff like that. China needs to solve reputation issues, definitely, China needs to solve a lot of issues, not only reputation, all right, let me just continue, I think we digress a bit already, so this is really exciting, so if you look at the whole overall economy right, the economy now is still very very strong, I'm like oh when is the recession coming, come but recession just put your life, it's not coming, I don't know why, but it must come, I mean I hope la, I hope tolong tolong please come, because why? We want to actually invest in cheaper companies, if there's a recession, things get cheaper, then we want to be greedy when others are fearful, right, be fearful when others are greedy, right, this is what Warren Buffett said and I totally subscribe for that la, so currently in the economy we see positive GDR, GDP, unemployment rate is too low, I think the latest was 3.5% right, then I'm good, consumer, yeah consumer sentiment is too high la, I'm like wow okay people are still spending money, people are still employed, I don't think recession is coming anytime soon, but I hope that it does and what happened to our stock market, it's pretty much be turned largely influenced by all these news that is actually being published la, so we see so far as like up down, up down, up down, left, right, people are scared, one day scared, one day positive you know, there's no very concrete sentiment set that is being published in the news outlet, so guys moral of the story don't depend on news because it is never accurate, it is never a leading indicator of what is actually happening okay, very important, so we want to know why exactly are you investing, why? Because having this clarity will give you a age over confusion, if you are not clear that means you're just confused, simple all right, so guys you need to really understand what are you investing in all right, do you actually understand the companies that you're investing in, is this company is something of within your circle of competency that you actually know very clear, what is this company, what is the business model, what is the management, what is this, the earning power, whether the company is going to sustain, right, you need to understand, so what do you understand by a business model, if you don't understand, if you think that the company is something that you think you know, you think you know then I suppose that you don't really really know la, for example, you know when, so this is one of the things that I did the other time, like you know when SVP, after the SVP collects then there's actually a conversation about Charles Swap right, I hope that you guys still remember, there's a conversation on Charles Swap, then I was like no la, Charles Swap you're not the one, Charles Swap is actually quite strong, so on that particular night itself, I put in my order for Charles Swap, oh I really put in, you know I was like so confident, I put in my order for Charles Swap, I wanted to actually see the rebound of Charles Swap, I wanted to want to invest in Charles Swap all of a sudden, all right, and then when the market all ding ding ding ding ding, I was like okay, I am what is my investing strategy again, am I going in for the short term just to see Charles Swap increase a bit and then what what significant does it give me, right am I going to go in for long term or short term, what is my strategy over there, so I was like no la, I cannot do this, I cannot do this, if I'm only going in just because it's been bitten a lot, it's probably going to rebound for a bit and I don't really know about the industry, I don't really understand about the business model, I know maybe a little bit because I didn't have much time to do my research as well, is this a company that you really really want to invest in, right, how much do you understand it, if one fine day I think Charles Swap actually went down a little bit more after that day, I think my point of entry was about, my supposedly per entry is about $55, the last that I saw was $49 and if I don't really understand what I saw, sometimes I see $49 there I'll be, I'll be scared right, I'll be confused right, then I'll be like what am I doing my investing, so guys, you can't have this kind of a confusion on what you do, so what happened during that is before my order got triggered, I cancelled my order because it's not the short term gain that you want to take, you want to write on the trend, you want to be, you want to understand what is going on, write on the trend and profit long term, this is investing, right, not the short term game, so what you think you know might not be actually what you actually know, it's very important to gain the clarity over there like, huh, and how should we, sorry, yeah I just want to add that, I really feel that whatever you're sharing right now, it's very insightful, like how many guys felt that actually sometimes this is exactly what you will go through as well, as you probably hear wow there's so many stocks out there that is currently under discount because there's a lot of volatility, for example a lot of bank stocks have actually come down quite a lot, very often people will just tend to jump into the market and Isabella shared with us transparently how she also went through this emotion cycle as well, but very importantly at the end of the day, really use this incident to remind yourself, right, before you make any form of investment decision, do you truly understand the company, right, because for example recently Pete also said wow, Chaucer is a very good company, so I heard that, I also have this tendency oh maybe I should look deeper into it, but then I have not made any investment decision for now is because like just like what Isabella said, I have not done my deal diligence yet, so it's so important that you actually do your deal diligence before investing in any company, all right, so can everybody help to type dyodd in the chat, that means do your deal diligence, use it to remind yourself as well as you're learning in this sharing together with us, yeah, so you can continue. Yeah so in any kind of investing, if you don't want to do all your research, you don't want to do all your analysis, then go for passive investing like your your index fund, your s&p 500 whatsoever or even go for unit trust because you've got a professional to do it for you, but if you want to do individual stocks, you must do your own deal diligence because it's something that that it will the volatility will affect you, I want to sleep well at night and I hope that you guys sleep well at night also, very very important because why ultimately nobody but yourself are responsible for the end result, right, so that being said coming to my last point, what do you understand about the economy? So investing itself, right, it's a knowledge by itself, individual companies, how do you invest in individual companies is a it's a share one, like it's a knowledge by itself, but ultimately, right, you want to know that how is the whole economy going to affect the price of the particular companies as well because everything works in tandem, it's never separated, so how much do you understand about the economy? That's something that as investors, we need to understand also, moving forward, oh, what is your strategy? Okay, so I added in what is your strategy because I have met some some people, they say that they actually mentioned that they are investor, but but investor was like, you invest for a few months, then you will see the high swing high, then you want to take out, then you see a swing low, then you'll put in outside a swing high, sorry, swing high take profit, swing low, you want to put in, then I was like, investor got in out in out in out on there, that was like, okay, you okay, you can do that, but then if you want to play the game long term, is that the strategy that you want to employ? Does this strategy actually work for you? Is this the strategy that Warren Buffett himself actually advocates? So you want to understand what is your strategy in investing? Are you playing swing creating, or are you doing long term investing because although the the differences is very minute, there is a difference, all right, nobody can time the market accurately, nobody, this is why Warren Buffett doesn't do that. And moving forward, let me do a bit of recap also, I know that Chloe actually just did the whole BOS module recently as well, I do not know how many of you guys have actually revised on your BOS module, but nevertheless, let me just do a bit of revision here also. First up, you need to understand what is the business model? Is this company even making money or is the business not making money or how does the business even operate? This is something that is very important as investors we want to know, right? On top of the business model, how the company operates, we want to know whether there's any sustainable comparative advantage. Can this business grow in the long term? We close two eyes. Do you think that Microsoft today versus 10 years later will be still existential? Do you think Google will exist 10 years later? You want to be very certain that the company has this comparative advantage that it will be sustainable in the long term? And of course, in every particular business, there is a business risk, we need to understand what is the risk as investors? We are going to put our money with the business because we are going to own part of the business right now. What are the risks that we are going to undertake? What are the risks that the business is going to face? What is the management leadership like? Are they trustable? Are they giving out so many red flags warning signs like how Credit Suisse actually gave? How is the management leading the companies? Are they working towards their mission and vision? Or are they just, I don't know, anyhow running the company? Valuation of business. Warren Buffett says invest in good businesses, strong leadership at a reasonable price. Do you want to know the valuation of the business? Is it reasonable or not? Is it overvalued? Is it undervalued? Is it, I don't know, is it making money? You know, we want to know what is the valuation of the business. A bit of a math here, a bit, a bit, but not, it is not anything rocket science, understandable. I went for Chloe's revision, she was awesome, understand it very well. And also last but not least, you want to know what is your personal conviction and strategy in investing or so. Why do I put it in additionally? Why do I put it in? Because we can know everything. But if you are not comfortable in investing, you are not comfortable in investing. Don't try to force yourself just because that you think you know, but you are just not comfortable. I think I know Charles Schwab, but I'm not comfortable. So I want to force myself in just because people say it's good, just because I think that would be a momentary rebound, not really. So you want to actually target their sweet spot in the center. Yeah, just like what Isabella said, all this something that we have been teaching to you guys, right? So most importantly is like, keep on reading as well, because all these are not something that you can immediately see from like the number, sometimes the economic mode, competitive advantage or risk, you do need to read a little bit more about different companies. And even better, like chat with people who have the industrial knowledge behind them, and that's how you can get those insights much quickly as well. And right now, you can even use chat GPT to get more investing insights of like what we recently shared. So so make sure you use different kind of tools to level up as well. Yeah. Yeah, so moving on with all the uncertainties with all the issues that's happening in the economy right now, how do we navigate the US economy, right? So looking back at this particular chart that I copy and paste, of course, copy and paste, since the height of 2022, we've already seen a 15% decline in S&P 500. And the question here I want to ask you guys is, right? S&P has declined by 15%. Does it mean that it's undervalued or rather the components in S&P is actually all undervalued? Because S&P dropped 15%. That means, let me know in the chat, in the meantime, Chloe, what do you think? I'm sorry, what's your question again? Do you think that the S&P currently is undervalued or rather do you think that all the components in S&P is undervalued? Okay, I feel that currently the P ratio of S&P 500 is about 21 times. I wouldn't say it's undervalued, but I wouldn't say that it's expensive either. So I think some of the companies are actually pretty fair value. So that is why it's actually really good to start investing if you have not, but maybe don't need to pour in a lot of cash, maybe 50% of your cash, so that you know that you're staying invested. If the market continue to run out, your 50% is making money for you. However, if the market does have proven from now on, then you can use the remaining 15% to actually invest even more. Yeah, love it, love it. So what SW Tham says, S&P, he says no fair value. Why is it fair value S&P dropped by 15%? Why is it fair? Because it's an average of everything. Let me go on to the next chart. This is how S&P is being weighed. S&P 500 is fair value weight. What does it mean is the number of share price, I mean, sorry, the share price times the number of outstanding stocks? And how does it, and it's equals to market capitalization divided by total market capitalization? What does it mean? Very simple. Companies with larger market caps actually weigh more heavily. So without much consideration or rather off your fingers, can you name us some of the big cap stocks in S&P? Very big sum. Tell me in the chat, let us know. Because we do, I do a knowledge that sometimes for stream yard, there's actually a five to six seconds delay. So tell me in the chat, let us know what are some of the large cap stocks in S&P 500? AAPL? Apple? Apple, yes. In fact, you see from the FinVis, this is the background chart. You can see that the bigger squares are actually the larger cap stocks. Very simple. The smaller cap stocks or the non-existential one, then you cannot even see it. So this is how FinVis actually visualized the whole thing. Pretty interesting. You got Microsoft, you got the Feng stocks, Microsoft, Apple, Google, Navida, also pretty big. I know this company is Amazon, Tesla, Tesla is getting bigger as well. Yeah, so we all these big tax stocks and majority is intact when there's a situation of high inflation with so high interest rate and what is the highest decline also in tax stocks. That's why you see 15% this decline in S&P 500. Many from where? Many from tax stocks. So pretty much that the whole S&P is actually affected a lot. I would say that other sectors are also being affected, but majority is still intact. And does it mean that all the other companies there are no companies that are overvalued in this S&P 500? No, it's not like that, say one. Because we go to the next page, we see in terms of sector breakdown, the information technology with the tax stocks is 29.3% of S&P. We got other smaller percentage like for example, your utilities, materials, real estate, your energy, your consumer staplers. Do you think that this industry actually went down together with tax stocks? Maybe not, maybe not. So last time I did my research, I saw that utilities actually went up a lot, significantly a lot. So for people who actually decide to enter S&P just because S&P is undervalued, or rather you close two eyes to pick any companies in S&P is undervalued, that is a myth. That is a myth guys. So be sure what is actually the composition of S&P. S&P is also rebalanced on a quarterly basis. So if there's any major shift in the relationship to the company to capitalization, you will see major changes as well. That's something very important that we need to actually be aware as well. The technology sector can be undervalued but the utilities, for example, is actually overvalued. If you balance it out, like what SWTAM says, it's pretty much fair price. Now what Chloe said as well. So we're moving forward. Talk about growth versus value versus dividends. I don't think here I will actually talk much about dividends because dividends is pretty much straightforward. So I'm going to cross it up. Let's talk about growth versus value. What's the difference between growth versus value? Simple. When you talk about growth stock, you want to make sure that the business is profitable. If the business is not profitable, let's not talk about growth because you can't see whether this company is growing in the first place. If the company is not earning, then grow what? Or what basis of growth? From no grow, become no grow? Or what? So we want to see profitable businesses. That is a growth. For value, we want to look for companies that are undervalued. So very simple. In terms of growth companies, profitable business, we look at a few examples. Normally, people when talk about growth stocks, they will link it to all the technological companies. I'm not sure whether you guys realized it. So I put in four examples over there. Apple, Microsoft, Snow, New. Apple and Microsoft, I don't think I need to go through. Everybody knows that it's a true blue growth company. It's growing very, very well. Let's talk about Snow and New. Guys, do you know whether Snow is actually profitable or not? Or is it a real growth stock per se? Can we go to Streamy Yards? While waiting for you guys to type out the answer for Issa, just answer one question from Tham, asking, in BOSS, what is the key objective? Is it to get the premium or buy the company? Now, very importantly, when you do BOSS option strategy, you don't mind getting the stock. That is why on top of that, you get to collect premium. I think it depends on what is your objective as well. Some people prefer doing BOSS just to get the premium and that's why they will look at technical analysis to make sure that the tendency of them getting the stock is lesser. However, when I do BOSS option strategy, I really don't mind getting the stock. So that's why from my perspective, it's actually a way to collect stocks. So at the end of the day, it really depends on your objective and that's why your approach will be slightly different as well. Yeah, I hope that clarify your question as well. Yeah, I agree, I agree. To BOSS, you need to ultimately own the stocks if there's a fair price that you actually wanted. Right, so coming back to Snow, earning pressure. Hey, earning pressure is negative and the company is rather making money. Okay, you got positive free cash flow, but then the return of equity, the net profit margin are negative. It just shows that this company is not making money. If the company is not making money, how confident are you that you're going to make money tomorrow or next year or three years later or 10 years later or maybe not in our lifetime? We do not know, right? So this is not a true blue growth company even for New. I know that during COVID period, there's a lot of people talking about New and a lot of people likes New saying that it's an EV in China. There's a lot of prospects about it. But hey, again, earning pressure is negative return on equity negative, profit margin negative, net income, cannot lie, everything negative, then there's no growth per se, right? So when we talk about growth company, yes, a lot of technological companies are growth companies, but the thing is not all technological companies are growth companies. You need to understand what is the definition of growth rather than just falling for the general consensus about it. Very important. In terms of undervalued businesses, yeah, so we got some energy company, Walmart, Google, and Disney as well. So I can't remember what's NEE. Can anybody refresh me what's NEE? I took it there. I kind of forgotten about it. All right, wait, NEE? Yeah, NEE. Let me see. Energy, right? Nextra Energy. Nextra Energy. Yeah, it's an energy company. I forgot really. So I'm saying here that energy sector is actually good. It can be undervalued or not. Even Walmart, I actually ruled out that it's undervalued businesses. Why is that so? Let us go and look back into Gita. Today, I'm not going to go very in-depth about POSS, how to do valuations or whatsoever, but I wanted you guys to actually understand the main concept of it. NEE, if I go to NEE here, the fact sheets, right? So Isabella is revising with every single one of you, what you have learned in our POS. You know, you learn to evaluate whether it's a good company. You learn to, in the first place, assess whether it's a good company first. So even before you go to valuation, you need to assess it. All right. So anybody remember what our criteria was? Our 10-step checklist. Maybe you can type it in the chat. For those who just came last weekend, you should be more than enough to remember every single thing that we just taught you guys. Okay. Yes. Please remember. I want very important. Please remember. Okay. So back to energy. Look at it. Since 2014, it's about two times, two times, two times, then suddenly three times, okay, close one eye. Then now four times. So what happened recently? We want to link everything to the microeconomy to understand what's happening recently. Is it because, really, because the company grows, very huge, surprise to book ratio is actually getting in alignment of increasing trend. You know, certain companies are really on increasing trend, which is pretty normal. But what's happening? So we know Ukraine, Russia, and then the energy, the oil, the oil issues, you know, in the West. Energy. We saw that pretty much now. It's really very much overvalued. So can we say that it's undervalued based on the PV ratio? Not really. Not really. All right. It's expensive. So this is the kind of stocks that you don't want to actually put into much money in because it's overvalued. Even for Walmart. Walmart. Even for Walmart also. So all these companies are, when you do valuation, there's a very, very distinct trend one that you can actually take a look. Even the Walmart PV ratio for 2023, five times, it used to be three times and dropped to two times, okay, back to three times. And then now five times. It's very overvalued. Yeah. All right. So these are the small little bits that you guys actually can actually pick up to know whether it is actually a value company or a growth company and whether it's undervalued or overvalued. That's something that has invested for us to to decent out. Of course, I did not go into Google on Disney because we all know that it's pretty much written down these days also. All right. Hey, hi, Daniel. Hi, hi. Hi from the USA. Hi. Really, I leave for the USA. I think it's like what, 7am or 8am in the morning. Wow. Wow. Okay. It's 10.39pm in Singapore. All right. So let me just continue. All right. So as I mentioned just now, let me test you guys again. Is all technology stocks, are all technological stocks growth companies? Is it a true or is it a myth? Guys, this one must be very, very clear. T is true. M stands for myth. So, or is it true or myth? Oh, for Daniel, it's 9.40am in the morning. Wow, that's good. Good time to get your morning started with a lot of learning. Wow. Wow. Okay. I think, I think most of the Singaporeans here or the Asians. Oh, John said it's a myth. Yes, yes guys. Yes, I'm so thankful. Yes, it is a myth. Please, please. Not all technological stocks are growth stocks. You need to do your due diligence to see whether they are actually earning money. Okay. So Daniel, maybe you would like to actually look back into our recording. Yeah, because in the earlier session, we actually made a distinct clarification between what's a growth stock and what's a value stock and what defines both of it. If I were to simplify it, growth stocks are where companies, the businesses are actually making money and value is where actually the price to book ratios are not extraordinary height. Right. All right. Okay. So let me continue. So strategy of a successful investor, we need to namaste a bit. Okay. This is Zen for a bit. Because why? We want our emotions to take a hold of us. You want to be very clear. Everything has to be very logical. But he doesn't let anything affect him. Right. He doesn't care about the volatility in the market. He doesn't care whether it's up or down, whether, I don't know, the government wants to, I mean, what's the thing called? The stock buy back are good or bad. No, he doesn't care about all those things. We'll remember himself saying in the short term, the stock market acts like a voting machine. And a long term, it is a weighing machine. Right. A lot of things can happen in the short term, but in the long term, it's going to weigh, not weigh you down, but weigh your assets up. Right. So this is the idea of it. We want to relax when investing. Always look at the fundamental of the business first. Fundamental first. I know some of you guys like myself, I do like to look a bit of technical, but technical is there after that will never supersede fundamental. If the company is not fundamentally good and you do technical first, there is a very, very high risk that you might go haywire. Right. Because there's no guidance. There's nothing that guides you. There's not no consistency. Right. So guys, always understand the fundamental aspect of the business first. Right. Those three points that I covered earlier, business model, the comparative advantage as well as the risk. Always understand the fundamentals. Also want to know the management leadership. Okay. Thereafter, when times of valuation determine if you're going for growth play, value play or dividend play. Right. There might be times where it's a combination, like if growth stock there's undervalued, sure. I mean like sure. But most of the time in the normal market situation is either you look for growth, value or dividend, because why we cannot give you a very distinct check everything kind of check list. You need to understand which category are you going for, which category does the stock belong in and you follow your strategy, the strategy that VOS actually taught. Right. Thereafter, as mentioned, you can incorporate all your different technical analysis to determine the momentum. But at the end of the day, do not expect to pick the bottom of the market. That is never going to happen. Guys, I used to do technical analysis. You do 100 times, you might be successful only maybe 90 times, I'm sorry, you do 100 times. You might be only successful for maximum 10 times. Right. So when you come to a full, full blown technical analysis, it's very hard because it's all based on your own interpretation of how the market is going to be like your own guesswork and different people have different guesses. I think Warren Buffett has the same that it doesn't make sense if you can read the chart in the upwards position and then you turn the chart over to ballet 180 degrees. Right. And then you still have the same conclusion. Then where is the consistency here? There's no consistency. There's no fundamentals here. So guys, don't expect to use technical analysis to guide your full investment strategy. Right. As an investor, you must be very, very this certain that fundamentals first, you can use technical to support to see the momentum, but not technical fully. Right. If I could show you these two but the chart in the global financial crisis, the old eight crisis, it is very much a like a like a like a Nike, just do it shape. Okay. Let me put it in. Nike just do it shape. It's very much gentle. There's different points that you do not know whether it was what slow can go lower, you know, it's a process. The bottom up is a process. It is not a point in time. Right. As compared to COVID-19 pandemic, it is very, very unique because COVID-19, it is a point, a very distinct V shape of which most of the, of the proper economy crisis, I use the word proper economy crisis is because COVID-19 pandemic, it is not an economic crisis. Right. It's just because of COVID and then everybody locked down and then becomes a crisis. But it is not a usual economy crisis that is caused by financial issues, financial situated issues. Right. So moral of the story is don't try to pick the bottom because you can never pick the bottom. You do not know that it's going to rebut and there will be multiple points in time that's going to test the bottom. And I just want to add on like, like just like what Isabel said, like you can't, you can never truly rely on technical analysis to get the bottom or even get a pick. Right. And that's why it's so important that, you know, with the margin of safety that you learn from BLS that really buying good businesses only buy them when they're undervalued. That's how you really add extra safety to your investment. Right. And I totally agree with what Sausage, right. Like always make sure you also have enough cash for rainy days. So depends on your life stage, depends on what is your portfolio size. Right. You shouldn't be investing 100% of your cash all the time. Right. I think it's pretty scary if you don't have any cash left in case anything just happened. Right. Emergency, rainy days, it can happen. So put aside certain funds for investment, put aside certain funds that it's really for savings or for rainy days that you should not even touch them. Right. So that you can have the peace of mind that even when your portfolio is going to crash because the market is tanking, right, which has happened last year, you are not worried because you know your cash reserve is still there. Right. You can always rely on that as well. Yeah. At the end of the day, it's a combination of both concentration as well as diversification. Know when to concentrate your assets. Know when to diversify your asset. That is very, very, very important. Right. Move on to the last page. Karine, maybe you want to take over. Yeah. So I think throughout this sharing, I believe all of you guys also have this sensing that it's actually so important not to time the market because once again, nobody can ever predict the market. Right. And if you were trying to time the market, I think this is a very, very interesting chart that you guys can see. Right. If you invested all day, that means regardless whether the market is doing well or doing not well. Right. If you put your $10,000 into invested in just the US S&P 500 index, right, from 1980 all the way to 2018. Right. That means for so many decades, you just keep on investing your $10,000 staying invested. Your $10,000 will have become $650,000. Right. Which is on your left hand side. However, if you are trying to time the market, trying to be smart, right. And then if you just miss that five days, the best five days over the past, past so many decades, right, like about, about 30 decades, right, 30 years, right. If you just miss that 30 to four amount, this just a five days. Your return dropped by 35%. And then if you keep on timing and timing and you miss the best 50 days, your return is a whopping down by 90%. Right. So that's why your $10,000 only become $57,000 instead of the $650,000. So that is why it's so important. Don't time the market. Is that really buying to good businesses and hold on to them as long as the valuation is still reasonable. Yeah. So this is, Lisa, do you have anything that you want to add on for this? Yeah, totally agree. I mean, like, like for us, people, people like us, if you are working like nine to five, how much time, how much energy, how much effort do we have to actually look at the chart every single day, right. Is it going to turn? Is it going to turn? Is it the bottom? Is it going to go bottom again? Then, you know, certain people, when we do technical analysis in the past, you do like ABCD, there's a certain patterns that we look at the market now. Then it's way too much effort. Then you will end up missing a lot of times already. So there's actually no point in really timing the market. I believe that investing should be made easy not to complicate things. Know your strategy, follow your strategy and simplify things. Yeah, I think, I think, I think, I think it's very important for us all to CP5 life. And the simpler it is, the better, right. And that's why even during our BOS class, we really want to simplify the investing method step by step for you guys, so that you know how to differentiate good companies, so that you know how to know whether it's a company that's undervalued or very expensive that you shouldn't be buying right now. But I'm also very curious, how many of you here, right, have attended our recent two-day BOS? If you have attended, can you type BOS in the chat? Okay, if you have attended, type BOS. So Issa was there. Okay, it's a very laggy for you. Okay, maybe it's like, you need to switch to a place with a better Wi-Fi connection or something, all right. If not use your mobile data, I think should be fine as well. Right, very okay. Oh, it's also very laggy for KT too. Issa, am I lagging? No, my side is also okay. We are both talking like we are perfectly fine. Oh no, did they miss what happened in the past? How about now? Is it okay now? Is it better now guys? Is this fine here? Okay, Ken is fine. Andy, Andy, John, Stanley, is it better right now? Yes, okay, we will have the replay. We will have the replay inside the Facebook group that you are in. So don't worry about it. Okay, but in the meantime, I have an even better news than just the replay itself. But I also want to ask how many of you attended our recent two-day BOS? If you have attended just last weekend, can you type BOS in the chat, which is our two days very, very in-depth value investing two-day workshop to really share with you how to analyze a good company when it's a good time to buy and how to do your portfolio sizing as well. Every half, still very lag. That is so strange. Issa, we have no problem as well. Hmm. Okay, I hope BOS. Okay, so Adeline attended BOS. Okay, who else? Who else attended BOS? Let me see. Okay. Okay, let me see. Are you guys okay right now? Okay, because I'm going to share with you a very, very amazing news. Sorry. So for example, attended BOS. Okay, my internet also lagging. Maybe you guys, okay, maybe you guys tell me what brand of internet you are using. I will make sure that I don't use that. Okay, then maybe some of you guys can watch the replay in a bit. Don't worry. Okay, so I can see most of you guys. Yeah, yeah. Okay, so if you are on your phone, maybe you switch to your phone, you should be able to watch it better as well. Use your own data. Yeah, so, okay, let me show you the, okay, Sintel, Calvin, I will make sure I don't use Sintel. Okay, but they are the largest provider in Singapore. All right. So, oh, you attended during the end of March, which is, okay, okay, that means like one month ago, guys. Okay, so I have a super great news for you. So how many of you, because you attended BOS, right, then you find it useful, right? That means it gives you better clarity just like what Issa Bela said, better clarity in terms of analyzing a company, better clarity in terms of how to buy it when it's under value. If you feel that it gives you better clarity and it's useful for you, can you type useful in the chat? Okay, Daniel said that your internet is very good. All right. So that means, okay, it's Sintel problem. So I believe all of you guys are using Sintel. That's right. So what's going to happen is actually doing these two days, right, for those who just recently attended, you'll realize actually we really teach a lot in depth in terms of how Warren Buffett, he himself analyzed the company so that he has been, that's how he has been compounded. He's, let me show you Warren Buffett network, right, for so many years, right. And you will know that actually value investing, it's a very, very powerful strategy that as long as you are willing to stick to it long term, right, that's how you are going to grow your wealth as well, right. So let me share with you for those who are still very curious about what is Warren Buffett network, all right, when he was 88 years old, all right, he had $85 billion, two value investing. And today, all right, what is Warren Buffett's network today? Today, it's $109 billion. So five year basis, 88 years old, that was, that was two, that was like four years ago, right, in about four years time, he, he compounded his net worth even more, right, to 100 and close to $10 billion, right, $110 billion. And that's why we truly believe that, you know, if you know how to invest safely using the value investing system, that's how you can grow your wealth as well safely, like, like, like Warren Buffett, right. So MW say very useful, John is saying very useful, fantastic. All right, so this is what's going to happen. All right, so for those who find this useful, all right, we really want to invite you to share this with your friend. And right now, okay, only for today, by the way, we are doing a very special webinar, you can say that, you can see that suddenly you get notified, right, because we just want to make sure we push this good news to as many people as possible, but it's only exclusive because you are here, and that's why you will be aware of the news. If you are not here, you're going to miss this, you're going to need this webinar, definitely your friend will not be able to benefit from this as well. So let me share with you what is the good news. So as you know, for those who attended our program, you know that you need to pay some amount of fees, right, to join us. But today, all right, only for today, we want to really help more people. And that's why instead of your friends coming here, all right, to pay a fee to join us, what's going to happen as all right, our two days class, this is what we are going to do it for the first time. Okay, guys, for the first time, we are going to, all right, give it out completely free of charge. All right, so what's going to happen? Okay, I'm going to, for those who want to invite your friends to come and learn, and for those, in fact, if you want to visit and we learn, right, free of charge, this is the link that I will be sharing with you very soon. But firstly, all right, if you register with us, okay, for those who have not attended, this is what's going to learn, you are going to learn as well. So firstly, you are going to learn the buffer way of investing, right, which is the, our Ask E-Friend model, how to analyze a good company that so many of you find it useful, right. And then what to buy, right, using our checklist, when to buy, right, which is valuation and most importantly, it's a position sizing as well. So we are going to teach you when to buy, when to sell, how to create your own portfolio as well. And usually, if you join us, right, last time, for those who actually attended our physical class before, it's a few thousand dollars, right. But then, because right now, everything is online, okay, and only for the first time right now, we want to give it out as completely free of charge so that more people can get benefit during this period of time. So your friends can actually basically register for our two days workshop, complete for free, all you have to do is to fill in, for example, I just do a demo, like, okay, Chloe, then write a number here, all right. And then, for example, after that, okay, I'm just going to send. But one more thing, okay, apart from this good news, right, that your friends can attend for three years, what is going to happen is, if you are the one who invite your friend to come, you will even get additional prices, all right. So what are the prices you are going to get? All right. So let me share with you. Firstly, if you have three friends who sign up through your own link, which I'm going to share with you how you can get it, all right, you will have our founder of this school, Buffet Online School, right, Sean Sia, he actually wrote a very good book called Gone Fishing Buffet, we are going to send you the digital copy of it once you have three friends to sign up. And then you have five friends to sign up, we are going to send you the financial freedom calculator so that you can calculate, oh, how long do you take to be financially free? How much do you need to save up? How much do you need to invest? All right. And then, if you have 10 signed up, we are going to give you Warren Buffet's portfolio so that you can see what is Warren Buffet investing, how much is he investing, and what is the percentage allocation. And last but not least, if you have 15 signed up, you will have a free ETF online course that is worth $297. And one more very, very interesting and I think exciting thing that we are running as, we are running as a contest. So if you have, you are the top three people who will get most number of friends to sign up through your link, this is what's going to happen. You will get to win amazing prices worth close to $1,800. So what are the prices? As you know, for our company, we actually run different kind of program for those who want to level up in different ways. We have our options class, we have our metaverse class, we also have our creator of online courses, which is the compounding roadmap class. So if you are our top three referrals inviting the most friends, this is what's going to happen. We are going to give you the next level combo platinum pass for not just yourself, but one more person as well. So basically it's for two people, both you and your friend or maybe you and your spouse or your daughter, your son, whoever want to learn together. We'll give you the two-day tickets to our three-day options class that is already worth $997. And then also our two-day ticket to our three-day COC, which is a compounding created income roadmap class, as well as the three-day metaverse crash hall class. So everything add up together, it's easily over $1,700. So if you're the top three, how do you know whether you're the top three? So if you scroll down more below, you can see that the more friends that you invite, the more points that you get. So for every one friend, you will have 10 points. So let's say right now, who is the leader inside the contest because the contest has started. So you can see right now, if you go down below, here's how to win the contest. So let me show you who is the leader right now. Let me go to the page number one because this is page four. So I need to go to page number one and you can see the top top leader right now is Bowen. He has 430 points. Okay. While for Gany, he has 60 points. So you can see it's a far cry, very far away from Bowen. But guys, don't worry. Bowen is not going to be entitled to winning this contest because he is one of our trainer to demonstrate how does this contest actually work. So he's here to just to showcase to you, but he will not win your prize. So don't worry. So right now, actually the top person is Gany. So for whoever who is a top three, you are going to win all these prizes. On top of that, if you keep like three people, five people, 10 sign up, you will have additional prizes as well. So this is where you can start inviting your friends through your own personal invite link over here, which if I copy right now, it will be my own invitation link. So it doesn't make sense. So in order for you to have your own invitation link, I'm going to share with you the link right now to register for your own link. So all you need to do is go to rebrand.ly slash, okay, let me just also type it in the chat, rebrand.ly slash d-o-s-3. So it's the first time we are running it and did I key correctly? Hold on. Let me just double check. All right. Give me a while. Let me just make sure we saw a year book to help me check whether it's the link that I just sent. Is it working? Give me a while or just copy and paste it. Thank you. Is it working? All right. Okay. So once again, I just sent in the link one more time. All you need to do is to go to this link and then register for your... Okay. So once you register, right, basically you can reattend our two days class completely free of charge as well. So feel free to do that. Our next class is actually happening very soon and there is a cutoff data to this contest. So when is this contest ending? Because our next class is actually happening in May, which is 6 to 7 May. So that's why the contest cutoff date will be the day earlier, right? Which is the 5th May, 2, 3, 5, 9 p.m. That's a Friday night. Then Saturday is the class, Saturday and Sunday is the class already. So that is why if you want to get... Invite your friends to come and learn investing, all right? And really share with them step by step how you have learned from us, right? How to value a good company, how to buy them a good price. And right now, you can actually help them to get started completely free of charge as well. And on top of that, all right, you will get to earn additional prizes and feel free to share with your friends. For example, you hit 3 sign up, you can share the same digital ebook, right? It's a link, you can say it to your friends as well. You can also share that with them, the financial calculators, your profit portfolio, whoever, whatever prices that you get, you can share with them. But of course, only for the top 3 side referrals, all right? You will have our next level combo platinum pass by for 2 people, all right? So I hope you guys are excited to share with your friends and excited to really invite them. I think most importantly, I get started investing safely as well. Okay, it's working out. Thank you so much, Cal. All right? So, all right, so Kevin said you just joined the Facebook group. Very good. It was a super class that I'm waiting. Okay, I was in super class BOSS, but I was waiting for the record. Oh, okay, okay, that's good, that's good. All right, we will be sending you, you mean like for our 2-day BOS, 2-day BOS, is it? Okay, if you join our previous BOS recording, you should probably have the recording as well, as long as you actually top up for that. So, okay, very good. So any additional questions that we have regarding these very, very amazing initiatives that we are running, all right? So that to help more people, you have any additional questions, feel free to let us know now. Okay, but very importantly guys, you need to go to this link that inside this banner right now, go and register for your own account. That means once you register, feel free to come and receive and we learn together with us as well. And that's where you're going to refresh and basically see some current opportunities together with us during May as well, right? And on top of that, once you sign up, there will be the page where you actually can see your own link. So make sure you copy over here, which is the link here, right? Make sure you copy this link and share it to your friend so that every sign up that is under your link, it will be automatically tracked over here. So that's how the leaderboard will be reflecting every single day as long as the new sign up, it will automatically be updated. And you can also use that to see where are you right now, all right? In this, we have like 14 pages, 14 pages of people who have already registered their account. And as soon as you started referring more people, inviting more people, your scores will definitely go up. And I hope you can overtake Bowen and really trash him in inviting people to come. But most importantly, Bowen would not snatch away the prizes from you. So don't worry, regardless whether you win him or not, as long as you're the top three, we will give you the prizes as well. Okay, so any additional questions? Okay, if not, okay, I hope you guys had a very, very great, very, very great learning session together with us. All right, maybe type down one of your greatest learning point from this one hour sharing. It's like, wow, actually, we already passed one hour. So type down your greatest learning points from our most recent sharing right now. And we're also looking forward to seeing you for upcoming BOS as well, because it's just happening in about three weeks time. Right now, it's already April. It's like in about three weeks time, the BOS class will be happening. And during that time, Isai and I will actually will be going to the US. So we will be meeting very buffered over there as well. So we're excited. Thanks. Thanks so much, Kevin, for tuning in and learning from us as well. Hope you had a lot of fun as well. Okay, so for those who joined our May BOS, you will be seeing poor one and glam both of them are super, super experienced investors as well as very, very experienced investing coach as well, who is going to teach you step by step, how can you use the pathway of investing to invest safely as well. All right, so you will definitely enjoy the class. All right. All right. So with that, okay, I hope everybody had a good, good night and we will see you in our next sharing. All right, see you guys. Bye. See ya. Good night. Bye.