Skip to corpus content
HIMR Public Corpustimestamped source index

Recording

My inheritance money ran out, I'm BROKE! [a-Xj9KZVSLI]

2022-06-02 · 9 min

internet_archive
Machine transcript · wording, timing and speaker attribution may be wrong

Wording, speaker labels, and timestamps can still be wrong. A transcript does not establish that statements in the recording are factual. Use the source links and surrounding context.

Read summary

Expand to load the summary.

Open summary page ↗
Source information & transcript revisions

Transcript revisions

  1. rev_62237a205b567a66033f82598c616309Machine-generated and unreviewed; may be wrong; not a verified quotation.
    enraw_asractive216 segments

Transcript

en
  1. A few years ago, my dad passed away and I

    Segment details0:00–0:02 · rev_62237a205b567a66033f82598c616309_0
  2. inherited quite a lot of money in the form

    Segment details0:03–0:04 · rev_62237a205b567a66033f82598c616309_1
  3. of a life insurance payout. And you might

    Segment details0:05–0:07 · rev_62237a205b567a66033f82598c616309_2
  4. be wondering, what has happened to that

    Segment details0:08–0:09 · rev_62237a205b567a66033f82598c616309_3
  5. money? What have I done with it? How have

    Segment details0:09–0:11 · rev_62237a205b567a66033f82598c616309_4
  6. I spent it? What have I wasted it on?

    Segment details0:12–0:13 · rev_62237a205b567a66033f82598c616309_5
  7. Unfortunately, I didn't really get to

    Segment details0:14–0:16 · rev_62237a205b567a66033f82598c616309_6
  8. spend any of it. Through no fault of my

    Segment details0:16–0:18 · rev_62237a205b567a66033f82598c616309_7
  9. own, I ended up losing nearly all of it on

    Segment details0:18–0:21 · rev_62237a205b567a66033f82598c616309_8
  10. the stock market and through bad

    Segment details0:21–0:23 · rev_62237a205b567a66033f82598c616309_9
  11. investments. So I thought it it would be a

    Segment details0:23–0:26 · rev_62237a205b567a66033f82598c616309_10
  12. good idea to use the money responsibly and

    Segment details0:26–0:28 · rev_62237a205b567a66033f82598c616309_11
  13. start investing, because everyone always

    Segment details0:28–0:30 · rev_62237a205b567a66033f82598c616309_12
  14. says, you know, you should start investing

    Segment details0:30–0:32 · rev_62237a205b567a66033f82598c616309_13
  15. because it's the wise thing to do. And I

    Segment details0:32–0:34 · rev_62237a205b567a66033f82598c616309_14
  16. wanted to make more money by using the

    Segment details0:35–0:36 · rev_62237a205b567a66033f82598c616309_15
  17. money instead of just wasting it on tech

    Segment details0:37–0:39 · rev_62237a205b567a66033f82598c616309_16
  18. and cameras and games and stuff like that.

    Segment details0:39–0:41 · rev_62237a205b567a66033f82598c616309_17
  19. And it's kind of annoying. I wish I never

    Segment details0:42–0:43 · rev_62237a205b567a66033f82598c616309_18
  20. bothered getting into stocks and

    Segment details0:44–0:45 · rev_62237a205b567a66033f82598c616309_19
  21. investing, because if I just spent the

    Segment details0:45–0:47 · rev_62237a205b567a66033f82598c616309_20
  22. money, even if I wasted all of it, at

    Segment details0:47–0:49 · rev_62237a205b567a66033f82598c616309_21
  23. least I could have bought some nice things

    Segment details0:49–0:50 · rev_62237a205b567a66033f82598c616309_22
  24. like a new phone, a new computer, some

    Segment details0:50–0:53 · rev_62237a205b567a66033f82598c616309_23
  25. nice new clothing. So I could have spent

    Segment details0:53–0:55 · rev_62237a205b567a66033f82598c616309_24
  26. all of the money and it would have been a

    Segment details0:55–0:56 · rev_62237a205b567a66033f82598c616309_25
  27. waste, but at least I I would have some

    Segment details0:56–0:58 · rev_62237a205b567a66033f82598c616309_26
  28. nice stuff to show for it. What do I have

    Segment details0:58–1:00 · rev_62237a205b567a66033f82598c616309_27
  29. to show after 2 years of trying to become

    Segment details1:01–1:03 · rev_62237a205b567a66033f82598c616309_28
  30. an investing guru and to try and make

    Segment details1:03–1:05 · rev_62237a205b567a66033f82598c616309_29
  31. money off the stock market? Well, I've

    Segment details1:06–1:07 · rev_62237a205b567a66033f82598c616309_30
  32. lost about £16,000, which is nearly

    Segment details1:08–1:10 · rev_62237a205b567a66033f82598c616309_31
  33. $20,000, and I've had many sleepless

    Segment details1:10–1:13 · rev_62237a205b567a66033f82598c616309_32
  34. nights, and I've just felt pretty terrible

    Segment details1:13–1:16 · rev_62237a205b567a66033f82598c616309_33
  35. after losing such a big amount of money.

    Segment details1:16–1:18 · rev_62237a205b567a66033f82598c616309_34
  36. So if you remember last year around

    Segment details1:18–1:20 · rev_62237a205b567a66033f82598c616309_35
  37. September, I made a video about investing.

    Segment details1:20–1:22 · rev_62237a205b567a66033f82598c616309_36
  38. It was my last— it was the last time I

    Segment details1:23–1:25 · rev_62237a205b567a66033f82598c616309_37
  39. made a video update on my stock

    Segment details1:25–1:27 · rev_62237a205b567a66033f82598c616309_38
  40. investments, and that was around September

    Segment details1:27–1:29 · rev_62237a205b567a66033f82598c616309_39
  41. last year. And at that point I was down

    Segment details1:29–1:31 · rev_62237a205b567a66033f82598c616309_40
  42. about £9,000 in my main portfolio. And you

    Segment details1:31–1:35 · rev_62237a205b567a66033f82598c616309_41
  43. might be wondering, after 8 months,

    Segment details1:35–1:37 · rev_62237a205b567a66033f82598c616309_42
  44. surely you've regained, recouped some of

    Segment details1:37–1:39 · rev_62237a205b567a66033f82598c616309_43
  45. that money. Actually, no, I've lost even

    Segment details1:39–1:43 · rev_62237a205b567a66033f82598c616309_44
  46. more since then. I think I'm now down over

    Segment details1:43–1:46 · rev_62237a205b567a66033f82598c616309_45
  47. £12,000 in my main portfolio. And in

    Segment details1:46–1:49 · rev_62237a205b567a66033f82598c616309_46
  48. addition to that, I'm also down £1,000 in

    Segment details1:49–1:51 · rev_62237a205b567a66033f82598c616309_47
  49. my second portfolio. And in addition to

    Segment details1:51–1:54 · rev_62237a205b567a66033f82598c616309_48
  50. that, I'm also down another £2,500 because

    Segment details1:54–1:57 · rev_62237a205b567a66033f82598c616309_49
  51. last year I was trying to do day trading

    Segment details1:57–1:58 · rev_62237a205b567a66033f82598c616309_50
  52. and I had a day trading trading accounts

    Segment details1:58–2:02 · rev_62237a205b567a66033f82598c616309_51
  53. that had about £2,500 in. The account

    Segment details2:02–2:05 · rev_62237a205b567a66033f82598c616309_52
  54. balance of my day trading account is now

    Segment details2:05–2:07 · rev_62237a205b567a66033f82598c616309_53
  55. £1.82, and I've kind of given up on

    Segment details2:08–2:11 · rev_62237a205b567a66033f82598c616309_54
  56. the idea of day trading. I just had loads

    Segment details2:11–2:14 · rev_62237a205b567a66033f82598c616309_55
  57. of really bad day trades that I tried to

    Segment details2:14–2:16 · rev_62237a205b567a66033f82598c616309_56
  58. make, and yeah, I just didn't have very

    Segment details2:17–2:19 · rev_62237a205b567a66033f82598c616309_57
  59. good luck with day trading. So you might

    Segment details2:20–2:21 · rev_62237a205b567a66033f82598c616309_58
  60. be wondering, what the hell kind of

    Segment details2:22–2:23 · rev_62237a205b567a66033f82598c616309_59
  61. investments did I have last year back in

    Segment details2:24–2:25 · rev_62237a205b567a66033f82598c616309_60
  62. September to be down another £3,000?

    Segment details2:25–2:29 · rev_62237a205b567a66033f82598c616309_61
  63. Well, back then I mostly had tech stocks

    Segment details2:29–2:31 · rev_62237a205b567a66033f82598c616309_62
  64. still. I had Corsair Gaming, I had PayPal,

    Segment details2:32–2:33 · rev_62237a205b567a66033f82598c616309_63
  65. I had Amazon, and then a bunch of other

    Segment details2:33–2:36 · rev_62237a205b567a66033f82598c616309_64
  66. NASDAQ stocks and tech stocks. And if

    Segment details2:36–2:38 · rev_62237a205b567a66033f82598c616309_65
  67. you've been following the markets at all

    Segment details2:39–2:40 · rev_62237a205b567a66033f82598c616309_66
  68. recently in the past few months, you'll

    Segment details2:40–2:42 · rev_62237a205b567a66033f82598c616309_67
  69. know that the stock market, the stock

    Segment details2:42–2:44 · rev_62237a205b567a66033f82598c616309_68
  70. market has not been doing very well

    Segment details2:44–2:45 · rev_62237a205b567a66033f82598c616309_69
  71. because of inflation. And then the war

    Segment details2:46–2:49 · rev_62237a205b567a66033f82598c616309_70
  72. that's happening in Europe hasn't really

    Segment details2:49–2:50 · rev_62237a205b567a66033f82598c616309_71
  73. helped things either. And you might be

    Segment details2:50–2:52 · rev_62237a205b567a66033f82598c616309_72
  74. thinking, don't worry, if you're just

    Segment details2:52–2:53 · rev_62237a205b567a66033f82598c616309_73
  75. patient and you hold and you wait, then

    Segment details2:54–2:56 · rev_62237a205b567a66033f82598c616309_74
  76. your stocks will eventually go back up.

    Segment details2:56–2:57 · rev_62237a205b567a66033f82598c616309_75
  77. Well, I kind of sold everything a couple

    Segment details2:58–3:00 · rev_62237a205b567a66033f82598c616309_76
  78. of months ago, and I'm really glad I did

    Segment details3:00–3:02 · rev_62237a205b567a66033f82598c616309_77
  79. because things have just gotten way worse

    Segment details3:02–3:04 · rev_62237a205b567a66033f82598c616309_78
  80. after I sold everything. I also had quite

    Segment details3:05–3:07 · rev_62237a205b567a66033f82598c616309_79
  81. a lot of money in some other stocks like

    Segment details3:07–3:09 · rev_62237a205b567a66033f82598c616309_80
  82. Palantir, Tattooed Chef, which are

    Segment details3:09–3:11 · rev_62237a205b567a66033f82598c616309_81
  83. considered to be growth stocks. And when

    Segment details3:12–3:14 · rev_62237a205b567a66033f82598c616309_82
  84. inflation is as high as it is now, those

    Segment details3:14–3:17 · rev_62237a205b567a66033f82598c616309_83
  85. kind of stocks don't really do very well

    Segment details3:17–3:19 · rev_62237a205b567a66033f82598c616309_84
  86. and they've plummeted like 60+%. And after

    Segment details3:19–3:23 · rev_62237a205b567a66033f82598c616309_85
  87. I sold them, they actually dropped another

    Segment details3:24–3:25 · rev_62237a205b567a66033f82598c616309_86
  88. 20 or 25%. So I was kind of lucky in the

    Segment details3:25–3:28 · rev_62237a205b567a66033f82598c616309_87
  89. way that I sold everything. So I've lost

    Segment details3:29–3:30 · rev_62237a205b567a66033f82598c616309_88
  90. quite a lot of money, and let's face it,

    Segment details3:31–3:32 · rev_62237a205b567a66033f82598c616309_89
  91. I'm probably not going to get that money

    Segment details3:32–3:34 · rev_62237a205b567a66033f82598c616309_90
  92. back. I'm not going to jump back into the

    Segment details3:34–3:36 · rev_62237a205b567a66033f82598c616309_91
  93. same stocks I had before. And in order to

    Segment details3:36–3:38 · rev_62237a205b567a66033f82598c616309_92
  94. make back the amount of money I lost, I'm

    Segment details3:39–3:41 · rev_62237a205b567a66033f82598c616309_93
  95. not exactly sure how the maths works, but

    Segment details3:41–3:43 · rev_62237a205b567a66033f82598c616309_94
  96. I think it works like this. So if a stock

    Segment details3:43–3:45 · rev_62237a205b567a66033f82598c616309_95
  97. drops by 50%, in order for me to break

    Segment details3:45–3:48 · rev_62237a205b567a66033f82598c616309_96
  98. even and get back to where I was, the

    Segment details3:48–3:50 · rev_62237a205b567a66033f82598c616309_97
  99. stock has to go up 100%. And because I

    Segment details3:51–3:54 · rev_62237a205b567a66033f82598c616309_98
  100. started investing basically at the very

    Segment details3:54–3:56 · rev_62237a205b567a66033f82598c616309_99
  101. top, at the peak of the markets, the

    Segment details3:56–3:58 · rev_62237a205b567a66033f82598c616309_100
  102. market's going to have to go to all-time

    Segment details3:59–4:01 · rev_62237a205b567a66033f82598c616309_101
  103. new highs for me to be able to get my

    Segment details4:01–4:03 · rev_62237a205b567a66033f82598c616309_102
  104. money back. So I think it's wise to just

    Segment details4:03–4:05 · rev_62237a205b567a66033f82598c616309_103
  105. cut my losses and just accept that I made

    Segment details4:06–4:08 · rev_62237a205b567a66033f82598c616309_104
  106. some really bad choices. I invested at the

    Segment details4:08–4:10 · rev_62237a205b567a66033f82598c616309_105
  107. completely wrong time and I'm not going to

    Segment details4:11–4:13 · rev_62237a205b567a66033f82598c616309_106
  108. get that money back. So what am I going to

    Segment details4:13–4:14 · rev_62237a205b567a66033f82598c616309_107
  109. do moving forwards? I'm not going to give

    Segment details4:14–4:17 · rev_62237a205b567a66033f82598c616309_108
  110. up on investing. I feel like I've learned

    Segment details4:17–4:19 · rev_62237a205b567a66033f82598c616309_109
  111. a lot over the last 2 years. What I've

    Segment details4:19–4:21 · rev_62237a205b567a66033f82598c616309_110
  112. done is I've completely sold all of my

    Segment details4:21–4:23 · rev_62237a205b567a66033f82598c616309_111
  113. tech stocks. I don't own any stocks that

    Segment details4:24–4:25 · rev_62237a205b567a66033f82598c616309_112
  114. are in the Nasdaq. I don't have any kind

    Segment details4:26–4:27 · rev_62237a205b567a66033f82598c616309_113
  115. of growth stocks or meme stocks or stuff

    Segment details4:28–4:30 · rev_62237a205b567a66033f82598c616309_114
  116. like crypto or that kind of dumb stuff.

    Segment details4:30–4:32 · rev_62237a205b567a66033f82598c616309_115
  117. As of right now, I think I have around

    Segment details4:33–4:34 · rev_62237a205b567a66033f82598c616309_116
  118. £30,000, and I've put all of

    Segment details4:34–4:38 · rev_62237a205b567a66033f82598c616309_117
  119. that money into 3 main sectors. The

    Segment details4:38–4:40 · rev_62237a205b567a66033f82598c616309_118
  120. sectors that I've chosen to focus on are

    Segment details4:41–4:43 · rev_62237a205b567a66033f82598c616309_119
  121. number 1, the tobacco industry, number 2,

    Segment details4:43–4:46 · rev_62237a205b567a66033f82598c616309_120
  122. energy and oil stocks, number 3, Lockheed

    Segment details4:46–4:49 · rev_62237a205b567a66033f82598c616309_121
  123. Martin, who develops missiles and weapons.

    Segment details4:49–4:52 · rev_62237a205b567a66033f82598c616309_122
  124. According to my economical research, I

    Segment details4:52–4:55 · rev_62237a205b567a66033f82598c616309_123
  125. have determined that based off of my

    Segment details4:55–4:57 · rev_62237a205b567a66033f82598c616309_124
  126. studies, I believe that inflation is going

    Segment details4:58–5:00 · rev_62237a205b567a66033f82598c616309_125
  127. to get much worse and it's going to last

    Segment details5:00–5:02 · rev_62237a205b567a66033f82598c616309_126
  128. for much longer than we expect. So So I've

    Segment details5:02–5:04 · rev_62237a205b567a66033f82598c616309_127
  129. decided to focus into companies and stocks

    Segment details5:05–5:07 · rev_62237a205b567a66033f82598c616309_128
  130. that provide value now and dividends as

    Segment details5:07–5:10 · rev_62237a205b567a66033f82598c616309_129
  131. well. And I decided to choose the tobacco

    Segment details5:10–5:13 · rev_62237a205b567a66033f82598c616309_130
  132. industry because I believe that even if

    Segment details5:13–5:15 · rev_62237a205b567a66033f82598c616309_131
  133. things get more and more expensive and

    Segment details5:16–5:17 · rev_62237a205b567a66033f82598c616309_132
  134. people start running out of money to buy

    Segment details5:18–5:19 · rev_62237a205b567a66033f82598c616309_133
  135. luxury items such as chocolate and crisps,

    Segment details5:19–5:22 · rev_62237a205b567a66033f82598c616309_134
  136. pot noodle, and, you know, good stuff like

    Segment details5:22–5:24 · rev_62237a205b567a66033f82598c616309_135
  137. that, I believe that people who are

    Segment details5:24–5:26 · rev_62237a205b567a66033f82598c616309_136
  138. addicted to nicotine, well, even if they

    Segment details5:27–5:29 · rev_62237a205b567a66033f82598c616309_137
  139. have to cut back on other things, they're

    Segment details5:29–5:30 · rev_62237a205b567a66033f82598c616309_138
  140. still going to buy their smokes. I think

    Segment details5:31–5:32 · rev_62237a205b567a66033f82598c616309_139
  141. smokers are going to prioritize buying

    Segment details5:33–5:34 · rev_62237a205b567a66033f82598c616309_140
  142. their cigarettes way above buying basic

    Segment details5:34–5:37 · rev_62237a205b567a66033f82598c616309_141
  143. stuff like milk or bacon. So when the

    Segment details5:37–5:39 · rev_62237a205b567a66033f82598c616309_142
  144. recession hits and everyone's poor and

    Segment details5:39–5:41 · rev_62237a205b567a66033f82598c616309_143
  145. broke, well, smokers still gotta smoke.

    Segment details5:41–5:44 · rev_62237a205b567a66033f82598c616309_144
  146. And for sector number 2 that I'm focusing

    Segment details5:44–5:46 · rev_62237a205b567a66033f82598c616309_145
  147. on, energy and oil companies. I believe

    Segment details5:46–5:49 · rev_62237a205b567a66033f82598c616309_146
  148. that energy stocks and oil stocks are

    Segment details5:49–5:51 · rev_62237a205b567a66033f82598c616309_147
  149. going to carry on going up because of the

    Segment details5:51–5:52 · rev_62237a205b567a66033f82598c616309_148
  150. war that is happening in Europe. I think

    Segment details5:53–5:56 · rev_62237a205b567a66033f82598c616309_149
  151. that energy is going to become more and

    Segment details5:56–5:59 · rev_62237a205b567a66033f82598c616309_150
  152. more expensive because there's less and

    Segment details5:59–6:00 · rev_62237a205b567a66033f82598c616309_151
  153. less supply from Russia. According to what

    Segment details6:01–6:03 · rev_62237a205b567a66033f82598c616309_152
  154. I've read, there's going to be rolling

    Segment details6:04–6:05 · rev_62237a205b567a66033f82598c616309_153
  155. blackouts across Europe. People are going

    Segment details6:05–6:07 · rev_62237a205b567a66033f82598c616309_154
  156. to have to choose between eating or

    Segment details6:07–6:09 · rev_62237a205b567a66033f82598c616309_155
  157. heating. So by this logic, energy

    Segment details6:10–6:12 · rev_62237a205b567a66033f82598c616309_156
  158. companies are going to make so much money

    Segment details6:12–6:13 · rev_62237a205b567a66033f82598c616309_157
  159. because they'll be able to charge a

    Segment details6:13–6:15 · rev_62237a205b567a66033f82598c616309_158
  160. premium on the electricity, and people are

    Segment details6:15–6:17 · rev_62237a205b567a66033f82598c616309_159
  161. going to have no choice but to buy it.

    Segment details6:18–6:19 · rev_62237a205b567a66033f82598c616309_160
  162. What are they going to do, just live in

    Segment details6:19–6:21 · rev_62237a205b567a66033f82598c616309_161
  163. the dark? Unfortunately, I just don't

    Segment details6:21–6:23 · rev_62237a205b567a66033f82598c616309_162
  164. really believe that this conflict, this

    Segment details6:23–6:25 · rev_62237a205b567a66033f82598c616309_163
  165. war that's happening in Europe, is going

    Segment details6:26–6:29 · rev_62237a205b567a66033f82598c616309_164
  166. to be resolved anytime soon. It's going to

    Segment details6:29–6:30 · rev_62237a205b567a66033f82598c616309_165
  167. be a really long, dragged-out thing, and

    Segment details6:31–6:33 · rev_62237a205b567a66033f82598c616309_166
  168. these sanctions that we have put in place

    Segment details6:33–6:35 · rev_62237a205b567a66033f82598c616309_167
  169. and the sanctions that have been placed on

    Segment details6:35–6:37 · rev_62237a205b567a66033f82598c616309_168
  170. us by Russia, it's just going to hurt us

    Segment details6:38–6:40 · rev_62237a205b567a66033f82598c616309_169
  171. more than it's going to hurt them. And

    Segment details6:40–6:42 · rev_62237a205b567a66033f82598c616309_170
  172. this leads me on to why I've chosen

    Segment details6:42–6:44 · rev_62237a205b567a66033f82598c616309_171
  173. Lockheed Martin as my 3rd sector to focus

    Segment details6:44–6:47 · rev_62237a205b567a66033f82598c616309_172
  174. on, because they are going to make the

    Segment details6:47–6:49 · rev_62237a205b567a66033f82598c616309_173
  175. missiles that are going to be needed for

    Segment details6:49–6:51 · rev_62237a205b567a66033f82598c616309_174
  176. this WAR. And if you know anything about

    Segment details6:52–6:55 · rev_62237a205b567a66033f82598c616309_175
  177. the missile industry, then you'll know

    Segment details6:55–6:57 · rev_62237a205b567a66033f82598c616309_176
  178. that the hypersonic missile technology is

    Segment details6:57–6:59 · rev_62237a205b567a66033f82598c616309_177
  179. something that's kind of like the main

    Segment details6:59–7:01 · rev_62237a205b567a66033f82598c616309_178
  180. focus right now. Hypersonic missile

    Segment details7:01–7:03 · rev_62237a205b567a66033f82598c616309_179
  181. technology is just going to make

    Segment details7:03–7:04 · rev_62237a205b567a66033f82598c616309_180
  182. everything obsolete. It's going to be a

    Segment details7:05–7:06 · rev_62237a205b567a66033f82598c616309_181
  183. complete game changer. Aircraft carriers,

    Segment details7:06–7:08 · rev_62237a205b567a66033f82598c616309_182
  184. battleships, massive planes— basically

    Segment details7:09–7:11 · rev_62237a205b567a66033f82598c616309_183
  185. everything and anything is just going to

    Segment details7:11–7:12 · rev_62237a205b567a66033f82598c616309_184
  186. be destroyed by hypersonic missiles. And

    Segment details7:13–7:15 · rev_62237a205b567a66033f82598c616309_185
  187. Lockheed Martin is probably going to be at

    Segment details7:16–7:17 · rev_62237a205b567a66033f82598c616309_186
  188. the forefront for developing this

    Segment details7:18–7:19 · rev_62237a205b567a66033f82598c616309_187
  189. technology for, for us as Westerners. So

    Segment details7:19–7:22 · rev_62237a205b567a66033f82598c616309_188
  190. basically what this means is I have a

    Segment details7:22–7:24 · rev_62237a205b567a66033f82598c616309_189
  191. portfolio that is fully positioned to take

    Segment details7:25–7:27 · rev_62237a205b567a66033f82598c616309_190
  192. 100% full advantage and benefit and profit

    Segment details7:28–7:31 · rev_62237a205b567a66033f82598c616309_191
  193. from the conflict or the war and

    Segment details7:31–7:36 · rev_62237a205b567a66033f82598c616309_192
  194. rising inflation and even a recession and

    Segment details7:36–7:38 · rev_62237a205b567a66033f82598c616309_193
  195. also lung cancer. And then as part of my

    Segment details7:38–7:40 · rev_62237a205b567a66033f82598c616309_194
  196. smaller positions, I also have some gold

    Segment details7:41–7:43 · rev_62237a205b567a66033f82598c616309_195
  197. mining stocks and some precious metal

    Segment details7:44–7:45 · rev_62237a205b567a66033f82598c616309_196
  198. stocks in the form of Rio Tinto. And I

    Segment details7:46–7:48 · rev_62237a205b567a66033f82598c616309_197
  199. have some pharmaceutical companies as well

    Segment details7:48–7:50 · rev_62237a205b567a66033f82598c616309_198
  200. because everyone knows that when the value

    Segment details7:51–7:52 · rev_62237a205b567a66033f82598c616309_199
  201. of fiat currencies go down and inflation

    Segment details7:52–7:55 · rev_62237a205b567a66033f82598c616309_200
  202. runs rampant, then commodities like gold

    Segment details7:55–7:57 · rev_62237a205b567a66033f82598c616309_201
  203. and precious metals, they are seen as an

    Segment details7:58–8:00 · rev_62237a205b567a66033f82598c616309_202
  204. inflation hedge. So I think it's a good

    Segment details8:00–8:01 · rev_62237a205b567a66033f82598c616309_203
  205. idea to have some of those as well. So

    Segment details8:02–8:04 · rev_62237a205b567a66033f82598c616309_204
  206. It's basically a win-win because if I'm

    Segment details8:04–8:06 · rev_62237a205b567a66033f82598c616309_205
  207. right, then I'll become rich and I won't

    Segment details8:06–8:09 · rev_62237a205b567a66033f82598c616309_206
  208. have just wasted my father's inheritance.

    Segment details8:09–8:11 · rev_62237a205b567a66033f82598c616309_207
  209. But then if I'm wrong, that would mean

    Segment details8:11–8:13 · rev_62237a205b567a66033f82598c616309_208
  210. that the war has been resolved, people

    Segment details8:13–8:15 · rev_62237a205b567a66033f82598c616309_209
  211. quit smoking and don't get lung cancer

    Segment details8:16–8:18 · rev_62237a205b567a66033f82598c616309_210
  212. anymore, energy prices will have come down

    Segment details8:18–8:20 · rev_62237a205b567a66033f82598c616309_211
  213. and gas prices won't be $10 a gallon or

    Segment details8:20–8:23 · rev_62237a205b567a66033f82598c616309_212
  214. something, and inflation has come down and

    Segment details8:23–8:25 · rev_62237a205b567a66033f82598c616309_213
  215. we won't be having a recession. So you can

    Segment details8:25–8:27 · rev_62237a205b567a66033f82598c616309_214
  216. all thank me.

    Segment details8:28–8:28 · rev_62237a205b567a66033f82598c616309_215