 Good day, fellow investors. Welcome to the stock market news with a long-term fundamental twist. Today, we're going to talk about Dr. Copper. Yes, Copper has a PhD awarded to it because of its predictive powers to see what's going on with the economy, the power of the global economy. Then we're going to see, except for Copper discussing the global economy, there is also higher interest rates that have started to put a burden on emerging markets. And I have discussed Argentina yesterday, so it's very interesting how those fluctuations and volatility arise and that's something we have to take advantage of. And then we're going to conclude with saying that opportunities, investing opportunities are the best, not when things are good, are the best when things are bad. So let's start with what is going on with Copper. As you can see, Copper price went up from the two dollars to something last year when I was very bullish on the metal. Now, since we started this year, Copper is not that positive despite the rising inflation and increases in oil prices. Now, I'm very bullish on Copper in the long term, but I think that it might be very hardly hit if there is a recession or a slowdown in global economy. And we use Copper wherever it can be from building, from electrical appliances, from whatever we practically own today and as we are switching off from fossil fuels into the electrical century that is coming in, Copper will be used more and more because it's the best electrical conductor. However, there is something that happens with Copper, its supply is relatively fixed. You can shut down a mine, but that's costly. So the supply is fixed, but the demand spikes when the economy, global economy is doing good and the demand drops when the global economy is not doing that good. It's enough that it drops below the supply and you have an oversupply and the price of Copper goes down sharply. If it's higher, you have oversupply under supply supply gaps and then it goes high sharply. So that's with Copper. And you see that demand and supply as the markets are getting weaker, lowers for Copper and Copper price really drop. And that's something very interesting as we have seen inflation, late part of the economic cycle, but Copper has already started its downward spiral. So we'll see if that will continue. However, it's important to keep an eye on Copper, especially if it breaks free and then it goes down because then it means that there isn't so much demand for the metal, which means that the global economy might be slowing down. So very interesting to focus on a factor for what's going on in the economy. Now, apart from Copper, that's used a lot in the building in emerging markets, higher interest rates have been really pressuring emerging markets, especially frontier markets like Argentina that I discussed yesterday, Turkey, Ukraine. And emerging markets have amassed a huge pile of debt because there was so much liquidity in Europe, Japan, US and that liquidity spilled over to frontier and emerging markets because there were a little bit higher rates and investors were happy to lend money in chasing whatever higher rate. However, now interest rates in the US are rising and emerging markets went from 5 trillion in debt 10 years ago, now to 19 trillion. So they really took a lot of international debt. Higher interest rates make it difficult to refinance that debt because now people don't like to invest in emerging markets. And when people start to get scared about that, then nobody wants to invest there. And then the spiral shallow market really, really goes fast. This creates an opportunity later, but it's important to see, okay, what's going on with Copper, what's going on with interest rates, what's going on with emerging markets and really try to buy when it's really, really cheap, intrinsic value, calculate the value of what you're buying. And then you see whether it's cheap or not. But the panic, when it's the selling starts, when nobody wants to invest there anymore, because they are afraid it will go down even more, not on fundamental reasons, then it's time to buy. And another thing I want to touch on in this news is politics. Now you have investments that are relatively not related to politics and investments that are very related to politics. And now Gasprom owns the Nord Stream line to pipe gas from Russia to Europe to Germany. As a Russian gas is the cheapest, it sounds like a smart idea. However, President Trump just pressured Germany not to go forward with the project because he says that then it will be too dependent on US gas. However, what's Trump promoting? US gas, that has to be liquefied and then shipped to Europe. So it's a little bit more expensive. However, whether what will happen, we don't know whether Germany will go with Putin or Trump, but the key is here. Okay, this is a political investment, Gasprom. If there is value, but politics can always shut down, which makes it risky. And therefore you always have to require a premium from such an investment. And that's why it might look like the cheapest company in the world. And I made a video last summer about it. So feel free to watch it if you're interested in the company like Gasprom. However, I wanted to point out that sometimes economic natural forces don't work and politics come in. So it's also another thing that we have to keep in mind when investing. The second thing is that Gasprom has the value there, the value of that gas that is cheap will never go away. So you might want to take advantage of those fluctuations that arise over time due to the risks, but keep in mind to invest when there is a big chance of things going wrong because usually things go better over time. When things are good, there is a bigger chance that things will go bad over time. Thank you for watching, looking forward to comments and I'll see you in the next video.