Valuetainment - Episode 211： Is Cash Still King？

00:00:00.960 30 seconds, one time for the underdog, ignition sequence start, let me see you put em up, reach

00:00:09.220 the sky, turn the stars up above, cause it's one time for the underdog, one time for the

00:00:16.220 underdog.

00:00:17.300 I'm Patrick Bader, your host of Value Taming, and today we're going to talk about if cash

00:00:21.120 is still king.

00:00:22.120 For the longest time, if you talk to my dad, my friends, everybody would say, Pat is very

00:00:27.500 aggressive with his finances.

00:00:28.580 I'll give you a couple stories here.

00:00:30.640 One, if I went to Vegas, and I had a couple hundred dollars, this is when, in 21 years

00:00:36.540 old, when I go to Vegas 26 times a year, if I go to Vegas, there would be nights where

00:00:42.240 I would lose $5,500 in one night I lost, and by the way, I couldn't afford to lose 50 bucks,

00:00:48.860 but I lost $5,500 that night, cause I would just go, double, double, double, double, it's

00:00:54.220 gonna come back, this double, I'm gonna double, I'm gonna double, I lost 35, bet 70, I lost

00:00:57.600 70, bet 140, bet 140, bet 280, 280, 560, 560, thousand, 20, thousand, 20, 2,000, boom, I

00:01:04.600 just lost 3500 bucks, and it was gone, right?

00:01:07.160 I was that aggressive guy.

00:01:08.620 I'd buy penny stocks, because I would sit there and I bought a Nike stock once, and I bought

00:01:13.380 it at 27, it went to 41, and I said, oh my gosh, I just made this much money.

00:01:17.940 And then another guy turned me on into a penny stock, and he said, dude, forget about this

00:01:21.720 Nike stock, look at this penny stock.

00:01:23.140 If you buy it at six cents, if this thing goes to $2, you just, your money just went

00:01:27.640 33X, you put $10,000, that's $330,000, this one kid in our high school took $10,000 from

00:01:34.740 his dad, turned it into $160,000 based on penny stocks, everybody was talking about, I'm gonna

00:01:39.800 be the next penny stock guy, so we're all going for the marbles.

00:01:42.180 Now, once I lost everything, and I hit rock bottom, and I realized, this whole aggressive

00:01:48.620 thing, Pat, where you think no one can get in your way, you may need to readjust your

00:01:52.840 thinking.

00:01:53.200 So I became a cash guy.

00:01:54.780 Everything to me became about having cash.

00:01:57.080 So now watch your story here, what happens.

00:01:58.580 In 2010, I'm looking for an office space.

00:02:01.760 And this office space I'm looking for, I wanted a nice office space, I knew the city, I liked

00:02:05.400 San Fernando Valley in California, I wanted to be closer to Woodland Hills, right after

00:02:10.000 101 Freeway, I liked that shopping center with, what was the movie theater across the street,

00:02:14.680 was it AMC?

00:02:15.300 I don't know if it was AMC, P.F. Changs, or just a great spot.

00:02:18.900 And so Marriott was right there, I said, I want a building right here.

00:02:22.020 So my realtor finds a location, he says, Pat, you're gonna love this thing.

00:02:24.920 I said, I want a deal, I'm not paying full price.

00:02:26.900 He says, this is a deal.

00:02:28.140 Let's go look at it.

00:02:29.140 We go inside to look at this place.

00:02:31.380 First of all, you could tell whoever that leased this place out, spent hundreds of thousands

00:02:36.600 of dollars of fixing the place out.

00:02:39.220 The front lobby, you come in marble floor.

00:02:42.120 The desk that was set up was insane.

00:02:44.040 The glass, the way it was set up.

00:02:46.000 Cameras everywhere.

00:02:47.480 The crown, the finish is at the top.

00:02:50.360 And then you walk in, the conference room glass, you press a button, you know, you would

00:02:54.380 have these curtains that would close for privacy.

00:02:57.280 You would have a drop down with the projector that would come out.

00:03:00.280 Wiring, the tables were already wired.

00:03:02.520 TV set up over here.

00:03:03.580 As you make a right, there's a presentation wall with glass inside where you can put your

00:03:07.740 trophies and recognitions you got from Congress and Senate and all these other people.

00:03:11.720 And then you walk in and then you go into the office, the CEO's office.

00:03:16.400 It was a sick office.

00:03:17.780 I looked at it and said, you've got to be kidding me.

00:03:19.420 And I made an offer.

00:03:20.700 And they accepted the offer.

00:03:22.200 I couldn't believe the fact they accepted the offer.

00:03:24.380 What happened here?

00:03:25.600 I stay at this place.

00:03:26.820 Then I said, who runs this place?

00:03:28.660 Then one guy comes upstairs one day.

00:03:30.320 And he's running a magazine.

00:03:32.720 He tells me who it is.

00:03:33.740 And I started investigating who this person is.

00:03:35.380 And eventually I have to call on people around and say, well, this guy had $2 billion plus

00:03:39.140 in commercial holdings.

00:03:40.540 Okay?

00:03:41.180 And he was going for all the marbles.

00:03:42.600 Every cash he had, he would buy commercial properties.

00:03:44.640 Commercial properties.

00:03:45.720 He had a lot of locations in Dallas, Phoenix, I think in California, and a few in Chicago.

00:03:50.380 He said, I'm going to be the Trump of SoCal and I'll be a billionaire.

00:03:54.600 This is it.

00:03:55.340 He went all in.

00:03:57.000 Everything he had, every cash, was all into real estate.

00:03:59.980 He was never expecting in a way to happen.

00:04:02.500 When it happened, boom.

00:04:04.780 He lost 90% of his holdings.

00:04:07.180 Whatever he had, all the way down.

00:04:09.420 Buildings used to be 90% rented.

00:04:11.160 It was 50% rented.

00:04:12.340 It was a pretty bad situation here with him.

00:04:13.680 So I sat and I looked at this thing and I said, wow.

00:04:16.020 Pretty interesting what's going on here.

00:04:17.580 Here's a person that's making a run of being a billionaire.

00:04:20.100 And they flopped.

00:04:20.740 Is it his fault?

00:04:21.560 Did he do anything different?

00:04:22.760 Did he make a mistake?

00:04:23.620 What would he have done differently?

00:04:25.160 And I started processing this.

00:04:26.240 He was living in a house, 30,000 square foot house with a casino inside his house.

00:04:30.120 When I say casino, I'm not talking about two tables, a full-on casino.

00:04:33.660 This is a rich man, as we're talking about, right?

00:04:37.900 So I came back and our lives, your life, my life is for you to learn from me, for you to

00:04:42.440 learn from your parents, me to learn from my parents, for us to constantly be watching

00:04:45.720 everybody and see what things we can learn to pick up, to do right and to do wrong.

00:04:49.260 And Charlie Munger many times would say inversion.

00:04:51.680 Look, he would always talk about the mistakes he made with his kids.

00:04:54.140 And mistakes other people made more than the things that people did right.

00:04:58.020 So I sat there and I said, that stayed with my mind saying, Pat, cash is very critical,

00:05:03.980 but you've got to know when you're making a run for all the marbles, your strategy.

00:05:08.620 You've got to trust some of the principles you have in place.

00:05:10.380 So with that being said, I've got a few items here I want to show you so you can be thinking

00:05:13.640 about when it comes down to, is cash still king today?

00:05:15.640 Okay.

00:05:16.640 Right behind me, I have all the dates of history of recessions we've had in America.

00:05:21.520 Okay?

00:05:22.520 Now a lot of times people say, Pat, what's a recession?

00:05:24.640 What's a depression?

00:05:25.640 You know, sometimes we don't even know what a recession or depression, it's actually very

00:05:28.280 simple.

00:05:29.280 Recession is when a nation has a wide economic decline that lasts six months or more.

00:05:36.920 So if it's nine months, it's a recession.

00:05:38.840 If it's seven months, it's a recession.

00:05:40.800 When the market's kind of going like this, six months, it's a recession.

00:05:44.180 We don't have to recover.

00:05:45.560 If it goes for several years, three to five years, it becomes a depression.

00:05:50.020 That's why we've only had one depression in the history of America.

00:05:52.800 Okay?

00:05:53.800 Since 1929 is the last one that we had.

00:05:55.380 Now, knowing that, how many recessions have we had in America?

00:05:59.960 Since 1854, we have had 33 different recessions.

00:06:04.200 Since 1854, that's 33 different recessions.

00:06:06.700 What does that mean to you?

00:06:07.920 33 and 164 years, which means one every five years, we have a recession.

00:06:14.420 Every five years, we have a recession.

00:06:16.340 Let me show this to you.

00:06:18.340 1945, we had a recession, it lasted eight months.

00:06:20.900 1949, we had a recession.

00:06:22.920 It lasted 11 months.

00:06:24.980 Remember, four years.

00:06:26.380 53, we had a recession, it lasted 10 months.

00:06:28.640 Four years.

00:06:29.640 57, we had a recession, it lasted eight months.

00:06:32.260 Look at the gap again, four years.

00:06:34.100 1970, we had a recession.

00:06:36.400 Lasted 11 months.

00:06:37.600 That is a decade, right?

00:06:38.740 That's a gap right there.

00:06:39.700 That's positive.

00:06:40.420 That's good.

00:06:41.800 1973, we had a recession.

00:06:43.660 16 months.

00:06:44.580 That's a long time.

00:06:45.600 Real estate took a big hit during that time.

00:06:48.440 1980 to 82, we had two recessions during that period.

00:06:52.000 One lasted six months.

00:06:53.140 It was the first one.

00:06:54.240 Second one lasted 16 months in a two-year gap.

00:06:57.120 1990, we had an eight-month recession.

00:07:00.260 2001, we had another recession.

00:07:01.980 It lasted eight months.

00:07:02.780 Look at the gap.

00:07:03.400 Ten years again.

00:07:04.000 So we have two of them that are ten years here.

00:07:06.960 2008, 2009, mortgage crisis.

00:07:09.040 You remember that one.

00:07:10.180 18 months.

00:07:11.100 If it would have got another six, 12, 24 months, that would have been a depression, but it was

00:07:15.300 a recession.

00:07:16.760 What do we have next?

00:07:18.000 We have not had a recession, folks, for nearly nine years.

00:07:22.440 For nine years, we have not had a recession.

00:07:25.300 What does that tell you?

00:07:27.120 Probably, could happen today, but in the next six to 24 months, we're going to experience

00:07:34.060 a recession.

00:07:34.660 It may be three years, but it's coming.

00:07:37.120 Now, this is the challenge that we're facing here.

00:07:40.280 There are people who think Bitcoin is forever going to go up, and I'm going to make my billions,

00:07:46.520 and this is how I'm going to be on the cover of Forbes magazine, being the richest person

00:07:49.700 in the world, right?

00:07:50.380 There are people that think, you know, the real estate market is going to be perfectly

00:07:56.000 right now.

00:07:56.440 Let me put everything I have into the real estate market.

00:07:58.420 Now, if you go long term and you average it out, real estate's going to give you somewhere

00:08:01.960 between four to six percent if you go long, long term.

00:08:04.400 If you go long term and average it out with the stock market, you'll see between eight

00:08:08.980 to 12 percent, depending on how the market does, right?

00:08:11.860 But regardless of what I'm telling you, if in the back of your mind, this concept of,

00:08:17.320 Pat, I don't want to think negative.

00:08:18.580 I think positive, and I'm optimistic.

00:08:21.460 I used to think everything was about positivity, until I realized, I am very positive and optimistic

00:08:28.620 about things I have control over, but things you don't have any control over, you can't

00:08:32.900 fully be thinking positive and optimistic.

00:08:35.260 I understand having faith, I understand praying, I understand having a higher law behind you,

00:08:39.740 but you've got to be thinking about the what if, right?

00:08:42.300 Because this leads me to the next point here.

00:08:45.040 When you think about risk-taking, everybody falls somewhere in this category of risk-taking,

00:08:49.360 right?

00:08:49.520 You've got somebody that is so conservative, they will never do anything with their money,

00:08:55.400 ever invest.

00:08:56.340 You can't even convince them to put in the bank, because they don't even trust the bank,

00:09:00.180 because they believe Armageddon is around the corner.

00:09:03.340 You know any people like that?

00:09:04.600 Typically it's our grandparents, and they're so afraid because of a lot of bad things that

00:09:08.380 happen.

00:09:09.080 Then you have people that are conservative.

00:09:10.420 I believe in bonds.

00:09:11.560 I believe in having some conservative balanced funds.

00:09:14.240 I believe in this, I believe in that.

00:09:15.740 Everything is just somewhat conservative.

00:09:17.820 Then you have people that are assertive.

00:09:19.080 They do research, they study.

00:09:20.380 Let me look into this Bitcoin thing.

00:09:21.600 What is blockchain?

00:09:22.760 What is cryptocurrency?

00:09:23.940 What is this insurance policy?

00:09:25.240 What is this stock?

00:09:25.980 What is this doing?

00:09:26.800 How's real estate?

00:09:27.600 This guy told me about investing into Austin.

00:09:29.340 So let me look into Austin.

00:09:30.580 Let me look into Nashville.

00:09:31.640 Let me look into this community.

00:09:33.540 Victorville, they're talking about California, that maybe it's becoming bigger because it's getting

00:09:37.280 closer to Vegas.

00:09:38.680 Should I consider putting my money into it?

00:09:40.140 Or maybe Palmdale?

00:09:41.100 Well, let me look at this stuff.

00:09:42.240 But they're assertive.

00:09:43.460 I'm learning.

00:09:44.400 I'm trying to learn.

00:09:45.600 Then you have the guys that are aggressive.

00:09:47.320 You know, I'm going to go for this, and I'm going to go for this, and I'm going to go

00:09:49.820 for this, and I'm going to go for this.

00:09:51.280 These guys, they could have a big hit.

00:09:53.800 Absolutely, they could have a big hit.

00:09:55.220 But they could have a big loss as well.

00:09:57.040 And last but not least, this is just absolutely dumb category.

00:09:59.980 This is the people that actually believe they can fly.

00:10:04.360 You know, this is like, what was that one song, Mario, by R. Kelly?

00:10:09.240 Remember R. Kelly?

00:10:09.840 R. Kelly had a song, and it went something like this.

00:10:12.340 By the way, this is how he would sing if he was singing to these types of people when they

00:10:17.200 invest.

00:10:17.620 This is what it would sound like.

00:10:18.640 He would say,

00:10:19.120 He believes he can fly.

00:10:22.500 He believes he can touch the sky.

00:10:25.600 He thinks about it every night and day.

00:10:28.720 He spreads his wings and crashes away.

00:10:33.460 Because that's what happens to these guys that think everything is possible.

00:10:38.320 Listen, I believe everything is possible.

00:10:41.000 I'm very comfortable trusting a plane to fly me to another place.

00:10:44.180 I was in India.

00:10:44.840 I don't mind a plane flying me over the ocean to go to India.

00:10:48.320 Do I trust myself to go jump off the top of a tower saying, listen, I'm such a positive,

00:10:53.340 optimistic guy that I'm going to do this thing so fast that I'm going to fly?

00:10:58.100 Even R. Kelly's not right when he's saying that song.

00:11:01.000 So how do we balance these things here, right?

00:11:03.340 By the way, remember this.

00:11:04.740 I'm going to say this quote very slowly and hopefully it resonates.

00:11:08.960 One time.

00:11:09.620 Here we go.

00:11:11.060 What sells doesn't always work and what works doesn't always sell.

00:11:18.440 Let me say it one more time.

00:11:20.000 What sells doesn't always work.

00:11:23.020 What works doesn't always sell.

00:11:25.500 What do I mean by this?

00:11:26.840 Well, what sells, imagine if I get up and I sell you a concept.

00:11:29.940 This is what we're going to do and ta-ta-ta-ta-ta-ta.

00:11:31.380 I sell it so good, but it doesn't necessarily work.

00:11:35.020 And there's another thing that works, but it's so tough to sell, okay?

00:11:39.340 It's so tough to sell because people say, no, that's boring.

00:11:42.720 I don't like that.

00:11:43.440 No, no, it's not boring.

00:11:44.780 Try to know and set aside your emotions and be able to process everything logically and

00:11:49.860 say, this makes sense.

00:11:51.880 Or, dude, this guy's just trying to sell me, man.

00:11:53.380 He sounds way too excited.

00:11:54.260 He's got a nice salesman smile and he looks very good.

00:11:57.220 I'm just not buying your bullshit because what sells doesn't always work.

00:12:01.380 You've got to know how to decipher between the two.

00:12:03.940 Typically, the way you learn how to do this is after a lot of people take advantage of

00:12:06.920 you, then you start having that eye and say, let me watch everything out there.

00:12:09.740 So now, having said this, let's go over here.

00:12:12.800 Remember how I talked about all this recession that took place?

00:12:15.500 In 2009, when the market crashed, here's what took place.

00:12:18.860 Ford's stock went roughly to a dollar.

00:12:20.840 Matter of fact, it was under a dollar.

00:12:22.480 Imagine if you could buy that stock on that, if you had some cash sitting inside.

00:12:26.180 What if you could buy?

00:12:27.400 Think about if you could buy 10,000 shares at a buck?

00:12:29.780 That's 10,000 bucks.

00:12:33.060 Nine years later, you would have had 110,000 dollars.

00:12:36.600 110,000 dollars, okay?

00:12:38.420 Citigroup went down to nine bucks.

00:12:41.060 $74 today.

00:12:42.860 Disney went down to 13.

00:12:44.500 I'm wearing a Disney shirt.

00:12:46.340 Went down to 13.

00:12:47.520 Today, $103, give or take.

00:12:50.060 B of A went down to 250.

00:12:52.640 $32 today.

00:12:54.120 That's 12x.

00:12:55.300 That's 13x.

00:12:56.880 Amazon was 34.

00:12:58.120 Today, it's 1,500.

00:12:59.060 Now, that's an anomaly.

00:12:59.940 That's a different story.

00:13:01.220 Nike was 12.

00:13:02.120 Today, it's 66.

00:13:03.340 I'm showing you these things because this is not a 6% return.

00:13:07.780 The 6% return means it takes 12 years for your money to double.

00:13:11.000 We're not talking about that kind of stuff.

00:13:12.620 But this happens if you anticipate a recession's about to come up.

00:13:17.660 So having said that, let me show you some companies here that have the most cash.

00:13:21.880 Take a look at this.

00:13:23.260 Walmart's got $8 billion in cash today.

00:13:26.220 Procter & Gamble, $15 billion.

00:13:27.640 Pepsi, $17.

00:13:28.540 Amazon, $30.

00:13:29.800 Coca-Cola, $27.

00:13:31.060 GE, $44.

00:13:31.940 Alphabet, which is Google, $95.

00:13:33.460 Microsoft, $133.

00:13:35.060 Apple, $261 billion of cash is what they're sitting on.

00:13:39.400 And by the way, this is from a Business Insider article, which was December of 2017.

00:13:43.980 Apple today, give or take, they're at $285 billion today.

00:13:47.920 And by the way, I'm not even talking about the offshore dollars that they find out how

00:13:51.140 much some of these companies are sitting on.

00:13:52.600 I'm talking money in America that they have to report because they're public companies.

00:13:56.920 Publicly traded companies, right?

00:13:58.600 And by the way, something for you to be thinking about.

00:14:00.720 Walmart, look at this number.

00:14:01.780 This is such an interesting data.

00:14:03.040 It's a completely different topic, but watch this here.

00:14:05.220 Walmart has $8 billion in cash.

00:14:06.960 They did $485 billion in top-line revenue last year.

00:14:12.520 That's more than Apple and Amazon combined on their top-line revenue.

00:14:18.720 But they only have $8 billion in cash.

00:14:20.900 Amazon has four times more cash than Walmart.

00:14:23.280 Why?

00:14:23.900 Because Walmart's retail.

00:14:26.040 Walmart's retail.

00:14:27.000 This is why Walmart is so worried about Amazon.

00:14:30.700 Walmart needs 2.3 million employees to function.

00:14:33.500 Amazon only needs $341,000, and Apple only needs $123,000, and they got $285 billion in cash.

00:14:41.860 The question becomes this.

00:14:43.220 For all these people that say you shouldn't have a lot of cash, do you think the people

00:14:47.160 in the boardroom of Apple that say, man, let's have a lot of cash.

00:14:53.000 You think they're dumb?

00:14:53.720 You think Amazon, Jeff Bezos is dumb?

00:14:57.200 You think Tim Cook is dumb?

00:14:58.660 You think people who run Microsoft are dumb?

00:15:00.540 You think Bill Gates?

00:15:01.340 You think Google guys, Sergey, and all these guys?

00:15:03.880 You think they're not that smart?

00:15:05.300 You better believe they're very smart.

00:15:06.760 Now, why are they stashing so much cash away today?

00:15:09.900 Probably because they're anticipating a recession to come up.

00:15:15.160 And when this recession comes up, they're hoping a recession comes up, because when the recession

00:15:21.720 comes up, some of the companies that make bad mistakes, they can pick them up on $0.40

00:15:26.880 on a dollar.

00:15:28.340 $0.20 on a dollar.

00:15:30.040 And that's how they keep getting bigger and bigger and bigger, because they have cash.

00:15:34.120 So what does this mean to you?

00:15:35.620 Look, let's go back over here, Mario.

00:15:37.020 Come back with me over here.

00:15:38.040 On this risk factor here, I want you to know, Mario, I'm going to go back and come back.

00:15:44.160 I don't want you to think, I am telling you to be here.

00:15:48.280 By the way, if you do want to be extremely wealthy one day, if you do want to be possibly

00:15:53.960 a deca-millionaire, a hundred, maybe even the B word, you do need to be kind of here.

00:15:59.600 You do.

00:16:00.660 You have to take some risks that maybe have a very big risk.

00:16:03.400 But at the same time, I'm not a fan of people who recommend saying, only keep 5% and out

00:16:10.300 of your million dollars, 50 of it keep cash, everything else, put it invested.

00:16:13.660 I'm not a fan of that.

00:16:14.880 Here's what I'm not a fan of.

00:16:15.800 Mario, come back with me over here.

00:16:17.360 Here's what I'm not a fan of.

00:16:18.860 If, based on what I showed you, this is not a myth.

00:16:21.760 I'm not selling you this.

00:16:22.980 This is facts.

00:16:24.480 This is 33 recessions since 1854.

00:16:27.040 It's a fact.

00:16:28.040 One every five years is a fact.

00:16:30.840 2008, 2009, 0190, how long did it last?

00:16:33.040 These are facts.

00:16:33.860 These are not myths.

00:16:34.760 These are not ideas.

00:16:35.580 These are not, well, could have, hypothetically.

00:16:37.840 These are purely facts.

00:16:39.560 If you look at this, you be the judge of it based on where you're at on that risk side.

00:16:44.440 When do you think a recession is going to take place?

00:16:47.240 You're going to say 2025?

00:16:49.580 Because in your mind, you wanted to go for another seven years where the market keeps going

00:16:52.740 up?

00:16:53.460 Or are you thinking back there saying, hmm, I think something's about to happen.

00:16:58.040 And let you say something's about to happen.

00:16:59.720 Great.

00:17:00.580 Don't get scared about it.

00:17:01.760 You see, rich people are not scared about it.

00:17:03.860 The people that I'm talking about, they're not scared about it.

00:17:06.060 They're excited about it.

00:17:08.300 They're ecstatic about it.

00:17:10.460 They're sitting on saying, oh my gosh.

00:17:14.180 This thing's been going and delaying for eight, nine years.

00:17:17.240 The longer it delays, the worse it could be.

00:17:20.020 Now, this is not me projecting and saying, I can't wait for another one to happen.

00:17:23.620 Believe me.

00:17:24.340 I've been going 11 top line revenues quarter as a company.

00:17:26.880 And we're doing very, very good.

00:17:28.840 I'm going to also be affected by this.

00:17:31.040 But the message I'm giving to you is, realize, cash is still king.

00:17:39.580 This is not in the past.

00:17:43.620 It is still king.

00:17:45.420 Keep your cash.

00:17:46.840 Don't get too aggressive.

00:17:48.000 Don't get too crazy.

00:17:49.240 Don't go to the dumb side.

00:17:50.520 Don't listen to the R. Kelly song thinking you can fly.

00:17:52.600 You can't fly.

00:17:53.420 Nobody can fly.

00:17:54.900 But sit there and strategize yourself to say, oh my gosh.

00:17:58.880 In the next year, two years, three years, five years, something could happen.

00:18:02.820 And then when it does, oh my goodness, I'm going to capitalize.

00:18:07.140 Look.

00:18:08.100 Somebody said, well, Pat, isn't this kind of deceptive?

00:18:10.280 I hope everybody watches this video.

00:18:12.780 But they won't.

00:18:13.680 You know why?

00:18:14.400 Because cat videos do better.

00:18:16.680 Because somebody's sliding and hitting their back and other people laughing at them.

00:18:20.500 It just does better.

00:18:21.720 Because big butts do better.

00:18:23.740 Because six pack just does better on videos.

00:18:26.500 Because pranks do better.

00:18:28.280 Jokes do better than a video.

00:18:29.840 This is boring.

00:18:30.560 This is money.

00:18:31.060 And then people wonder why so few people are wealthy.

00:18:34.100 This isn't something new, I'm telling you.

00:18:36.780 This is not something new, I'm telling you.

00:18:38.920 Berkshire Hathaway knows this.

00:18:41.340 They buy things on sale.

00:18:43.120 They know this stuff.

00:18:44.760 Very, very wealthy, successful investors fully embrace this concept.

00:18:49.200 The question is, are you going to embrace the concept?

00:18:51.880 Are you still going to be way too optimistic about the fact that everything's going to work out?

00:18:56.300 Because if this is right, in the last seven years, the longest time we've gone without a recession has been ten years.

00:19:06.620 And it's only happened one time.

00:19:08.840 And we're at nine years right now.

00:19:10.620 Since our last recession.

00:19:12.240 So we've got one more year until recession comes.

00:19:15.420 Are you ready for it?

00:19:16.380 I don't know if you are.

00:19:17.660 Go based on this.

00:19:18.960 So be assertive a little bit.

00:19:20.820 Go do your own due diligence.

00:19:21.720 Thanks everybody for listening.

00:19:23.300 And by the way, if you haven't already subscribed to Valuetainment on iTunes, please do so.

00:19:28.040 Give us a five star.

00:19:29.440 Write a review if you haven't already.

00:19:30.940 And if you have any questions for me that you may have, you can always find me on Snapchat, Instagram, Facebook, or YouTube.

00:19:36.980 Just search my name, Patrick David.

00:19:38.860 And I actually do respond back when you snap me or send me a message on Instagram.

00:19:43.860 With that being said, have a great day today.

00:19:45.600 Take care everybody.

00:19:46.320 Bye bye.

00:19:51.720 Bye bye.

Valuetainment - November 15, 2018

Episode 211： Is Cash Still King？

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