Extreme Ownership for Your Small Business and Employees

Hey everyone, it's Mike Andes and you're listening to the Business Bootcamp podcast. Today I'm going to be revealing all the companies that I currently have stock in on the stock market. I'm going to be actually going through my Robinhood app, going through each company, explaining why I have them. And I hope that is valuable to you. And regardless if you invest in the stock market or thinking about it in the future, I think this will be a value to you. Before we get today's show, a big thank you. Today's sponsor, which is Gusto, if you haven't Already, go to gusto.combootcamp Try their software completely free for 90 days where you can do direct deposits into your employees checking account, as well as they can have an app where they see the breakdown of where their federal taxes are going and all the other deductions that come out of their paycheck. It's very, very good. Check it out. Today, go to gusto.combootcamp all right, so couple disclosures before we get into this. Obviously, we have to do this when it comes to investing. Because I invest in a company does not mean you should. You should do your own homework, you should do your own checks and figure these things out yourself. I'm doing this only for educational purposes so that you can figure out some of the reasoning behind the companies that I invest in and realize that in different stages of your investment career, in terms of age, how much money you have, et cetera, that's gonna change which companies you're gonna invest in. It's gonna change what type of risk toler.

And so I'm a big believer that when it comes to the stock market, I am only going to invest money that I can lose. So I'm not going to leverage myself. I'm not going to go into what's called margin. Margin is money that you borrow against your account to borrow more than how much cash you actually have in value, how much cash value you have. I don't do that. I usually stay below. If I'm using margin, it's only temporarily if there's an incredibly amazing opportunity. But I don't in general use margin, my risk tolerance is somewhat higher because I don't have dependents.

I have a good cash flowing businesses that I know that if I lost all my money in the stock market, there would still be food on my table. Kind of using that terminology like I'm not going to go broke because the money's lost. So I don't look at the stock market as Gambling. Because the way that I do invest, and that is I look at the numbers. Every single one of these companies, I've looked at their balance sheet. I have looked at their P and L, and I've looked at a lot of research into each and every one of these companies. So I don't feel like I'm gambling. However, any and all. Any and all of these companies could go to. Go to zero. There's no guarantees. And with the volatility that the current. The stock market currently has, that is a possibility. Like we could have another stock market crash. So don't go out and invest in these companies, because I did. Well, I hope this does. Is that if you're wanting to invest down the road in the stock market or into real estate or anything like that, that some of this. The way that I think might help you sort of guide or mold the way that you start to look at potential investments. All right, so I have. If you just, you know, if you're new to the channel, I. The 99% of my time is focused on my businesses. You know, I have real estate and then I have the stock market. The stock market. What's nice about it is it's passive. I don't have to do anything. Like literally, besides looking at discounted cash flows and looking at P&Ls and balance sheets, I don't have to work. But the thing is, I would do that stuff anyways because I enjoy it. I enjoy looking at profit and loss statements. I enjoy looking at the numbers. Because I learn a lot from my businesses just by doing that. So I would do that regardless. But I do invest significantly in the stock market. And I wanted to show you some of the companies that I invest in. So there's quite a few. I'm gonna have to go pretty quickly. Cause I think there's about 25 or 30 that I'm invested in somewhat, you know, diversified. I do not have massive. Like, I don't have. Where 50% of my portfolio is in one company. I don't. I think the biggest one is 8%. Yeah, 8%. And then I think most of them are right around. Let me see here. I think most. Two of them are 8%. The rest of them are. The majority of them are on 2 to 3%. So, like, I might even have 30 companies here. I have to. But I'm gonna go through them now. In terms of the returns, this year has been really, really good. Obviously, it's 2020. It's been a really great year. Returns this year, on average have been 94.8% again, I don't expect this next year or the year after that. This is a year where I was able to buy a lot in the spring and was pretty risk tolerant and went into recovery stocks like Delta and Norwegian Cruise Lines and Simon Property Group, which is a mall REIT. So, but then I'm 100% out of all of those because I don't believe in their business models long term, especially like a mall. Like it's going to waste if they don't figure out, you know, different business models and strategies. So let me go through these companies without. Now we've gone six minutes with a bunch of disclosures in fine print. Let me just go through the companies again. Do not, just please don't be like, oh, Michael invested in them, I'm going to invest in them. That's not the way you should do your investing, if that's your strategy, is listening to one person and then going and investing your money. You are gambling, okay? You do your own research. You need to figure this out yourself. Okay, so the first company I have, and these are no particular order in terms of how much more I invest. The one at the very end, I invest more than someone in the middle, for example. So there's not really any sort of rhythm or pattern you're trying to find here about which one I invest more in. What I can say is that I have shifted more towards blue chip and high lower risk companies, but I have a good 20% of more speculative stocks and you'll see that in here. Okay, so first company is Adobe. Believe in this company a lot. I feel like they, based upon my projection, should be around $600 per share. You know, I might not give all of those away because people just, people react and will buy because of that. But basically right now they're at $500 per share. I do see a significant upside. Their, their balance sheet is incredibly strong. This is much more of a value play because their P e ratio is 46. So P E ratio is price to earnings ratio. You take the price of the value of the company divided by the earnings that they have in a year and you get what's called P E ratio. And so a growth stock is going to be a company that is valued based upon the growth and future potential. And whereas a value stock is going to be usually a PE ratio that is kind of standard in terms of the industry. So Adobe, it's been around for a long time. It has a really healthy profit margin, has a really healthy balance sheet and the market cap is $239 million. You divide that up by the earnings and you get 46.16 as of today in terms of the PE ratio. So Adobe, that's the first company, Salesforce is the next one. So I just recently bought into Salesforce because they dramatically dropped after their acquisition of Slack. So they acquired Slack, I think it was like 23 billion or something like that. 24 billion, I forget. Exactly. Sorry. But their stock went down from a high of 281 to 220. And so I bought in significantly on that dip because I feel like a lot of people thought they overpaid for Slack. And I do think, I feel like if you look at right now, they probably overpaid for Slack. But you got to remember that.

This is a massive company, Salesforce, they have $206 billion market cap and they are tapping into Slack, which is a great enterprise software. It's kind of like a messaging software for big companies. And if they get all of that portfolio of contacts, database, that information is so invaluable to them. I feel like Marc Benioff over there is very smart dude and he's gonna be able to figure out how Slack and make it super, super profitable for Salesforce. And so really though, like the drop was really just a reduction of the hype that went into the sale into the Slack acquisition. So like everyone thought they were gonna buy Slack. So it jumped like massive. It went from like 190 to 280 like in a few days. And then after the acquisition it dropped significantly because people thought they overpaid. I feel like there's a lot of opportunity in this one. So that's. I gotta go faster or else we're gonna spend. I could spend an hour on every single one of these companies because pretty excited about them. Alright, the next one is Alibaba. I traditionally do not invest in Chinese companies. There's a couple you'll see that I did do. And I've recently only invested in these for two reasons. Number one, Alibaba just dropped the other day like 14% due to a. This is a little bit of a risk here because in China when they have an antitrust inspection or an antitrust investigation, it actually means something. In the US when they do like an antitrust, that's you buy that dip because they're never gonna break up these companies. It's political pandering by saying that they should, in my opinion. And so when it comes to China though, they have power to break up companies and they were saying that they have monopolistic type of business practices at Alibaba. And so the. The stock dropped, like, a lot, like, I think 14, 15%. But more importantly, it was at 312. I think it was like a high of 312, 317. It was at its high of 317, and it dropped all the way down to 220. So it's literally been cut by 35%. So I really feel like it has 40, 50% upside, and it's a big company, but it's a Chinese company. And there's definitely more risk there because there's certain things that can't. That you can't trust a lot of the stuff they say as much as an American company. But I feel like there's definitely opportunity there. I was a little bit in Alibaba, but then after this recent drop, I'm significantly coming into it, especially because of the new administration that's probably going to be coming into the United States in 2021 and beyond. They're going to be much more friendly with China and Chinese companies. So I got to go through these speed a little faster. I know every single one is so exciting, but. All right, the next one is exciting, too. Rocket Mortgage. So this one has been bumbling around basically trading sideways for the past, like, five, six months. But every single dip I've been buying significantly, I do feel like they're on a short squeeze and they're going to eventually rebound very, very significantly. I see this going past 30 within the next year or two. Rocket Mortgage is a company that does online mortgages. They recently IPO'd. They went public, basically, and I have a significant amount invested in them. And the reason for that is because I feel like this is an undervalued stock dramatically and is going to eventually be found by the hedge funds. Right. So the same thing that happened with Lemonade, which we'll get into in just a second, I think is gonna happen to Rocket Mortgage in the next six to 12 months, and that is hedge funds are gonna start buying in. They are super profitable, extremely profitable. Their market cap is only 2.4. A lot of people, I think there's appreh because they think the only reason that they're doing well right now is the low interest rates. But I think they're failing to realize the technology that market Rocket Mortgage has in making mortgages really, really accessible online. So their PE ratio is like, super, super low compared to anything. Like, even if you take the look at this as a value stock, like the amount of money that they're making. Every single quarter is incredible. Super, super profitable. And I like investing in profitable companies. It's much less risky than companies that are pre revenue or pre profit or they're losing money. And so I feel like this is a great small cap. Just my opinion. And you're gonna be patient. It could be six more months before hedge funds and large funds start buying into it. And that will drive the stock market price up very, very quickly. And that is a testament. Testament by Redfin. I'm not Redfin. Sorry, that was my next one. I'm jumping down onto Lemonade. So Lemonade is another stock similar to Rocket Mortgage I invested in. This is a more speculative stock. They're still losing money. I think they'll be profitable here pretty soon. But I was buying this one when it was going, it was trading sideways. Initial public offering. It started off at $50. It spiked up to like 80. I didn't buy it at that peak. I waited until it came back down and just traded sideways for a long time. And I, I like the technology and the fundamentals of this business and I like the leadership of the business. And literally in the past month it has gone up to 130 plus dollars per share. And again, I attributed this to literally hedge funds finding out about these companies after they've had a six, you know, two to three quarters on, on the record and then buying in. And when a hedge fund goes all in on the company, it just drives the stock market stock price up through the roof. And so literally it has doubled, if not. No, let's see, it's tripled in the past since two months. So two months it has tripled. Lemonade. And so Lemonade is a company that sells insurance and it's very much AI driven and so is a lot of technology that goes into basically be able to get renters insurance and different types of forms of insurance online without having to talk to anyone, all through robots. And I feel like, you know, their pet insurance is really high quality, their renters insurance is really high quality. And as they are able to sell in more and more states and more and more territories, as well as add more products like life insurance or home insurance, I feel like they're just going to continue to grow and that's why they've gone gangbusters the past few months. All right. Another company I invest in again that been very lucky on is Redfin. My dollar cost per average is around $40 on this one. I purchased this early in the pandemic knowing that people are gonna start buying home. And so it did dip I think down to like 30, the high 30s there for a bit after I bought it. But then it just took off the past again two months it's just taken off from 47 up to $78 per share. Redfin is basically online marketplace for real estate. You can sell your house now. I was a little bit skeptical of something some of the things on their balance sheet and the way that they expressed growth. Excuse me because they buy houses. Redfin actually buys houses and then sells them. And so I didn't like the way they put they did that on their balance sheet where they actually showed growth and they were bragging about their growth. But really that was in the form of selling houses like Ibuying and which means that they buy the house and then they go sell it on their same platform. And I didn't like that because the margin of that was like 1%. Whereas if you look at their core product anyways Redfin has great property management tools. Great company. Again more speculative. Definitely a tech play and definitely banking on the fact that insurance interest rates are going to stay stagnant or lower for the next three to four years. Redfin will be an absolute massive winner in that game. I've invested significantly in Amazon. I sold off a lot of my shares in Amazon when it hit 3500 and it since retreated and kind of traded sideways for the next the past six months. I personally feel like the next 12 months or six months even it's going to go up significantly up to 4,000. But I have trimmed my stake in.

Amazon by about, let's see here by about 80%. I was very heavily in into Amazon trimmed it significantly at 3500. When it dropped below 3000 I bought more. I don't usually sell stocks. I don't because if you sell a stock and you make money on it and hopefully you're profitable, made money on it, you are going to have to pay taxes on it. So I don't want to pay taxes. And so I usually keep these for the long haul. I only sell and I did sell this year significantly when I purchased real estate for the down payment I would take a lot of the money out and use it for the down payment. Same thing with Google. Google is I bought them significantly back. Let's see, see here. I bought them significantly in September actually when they were down about 140, 1440 and.

Now they're at 1738. They went as high as 1820 and that is because I feel Like Google and Facebook ads are where small businesses will come back very strong and they're going to absolutely push against and leave traditional media in the form of television, newspapers, radio. I think that stuff is going to get left behind and the easiest place for small businesses to market on is Google and Facebook ads. So I did buy significant amounts of Apple or sorry, Google and it's done really well the past few months. And I've been in Google since the early for a long time. But recently it was in September I bought quite a bit when they dipped down. Then they had this great report, great quarterly report and it jumped significantly the past few weeks. Microsoft, big believer in Microsoft. They are dividend stocked but they're, they're more of a value play in terms of their PE ratio being 35. However, I bought them significantly. Let's see what my dollar cost average 204. So I didn't get into this one super, super heavy when it was lower than 200. But it's basically been trading sideways. Amazon, Google, Microsoft and Facebook have basically been trading sideways for the past like three to five months. And I feel like in the next six months we're going to see them rebound. Honestly, the stock is just catching up with itself. It just, they've all grown so much this year. They've got, it's going to take some time to catch up. Okay, Tesla, I'm invested in Tesla. Not as much as I wish I had been, but they obviously have torn it up this year. I bought significantly before they announced that they were going to go into the S&P 500. I also before their stock split, I was able to get in the day of and that was a big jump. So I participated in those two big jumps. And that was, is one stock that I move in and move out of because I see some about two to three weeks where they have hype and their stock goes through the roof and then it'll kind of trade sideways for a few months. And so I have kind of swung trade this one and I've used those two big events, the stock split and the S&P 500s and P 500 inclusion as sort of my two big swing trades on Tesla. All right, Facebook, we've already talked a little about Facebook. I've, you know, I have basically not gained a whole lot of money on Facebook. In fact, I'm actually, I've lost I think like 0.4%. Yeah. Because this one, since I purchased it, it's basically traded sideways and so I don't have a lot in it. Let's see here. Yeah, I don't have very much at all, but I do have some in Facebook as well. Lemonade. We already talked about lemonade. It is up substantially the past couple months. Again, very speculative. It is not a value play. It's definitely a growth play in the belief that it's going to continue to use its AI and to be able to sell insurance to millennials. That's really the catch. Etsy. I've been in Etsy since it was under $100 and it has done incredibly well this year. It is an online, basically marketplace for little things that people make at home. And with the whole stay at home economy and the whole pandemic happening, people at home making little arts, crafts and selling them online. Etsy has done an incredible job. They've been included in the s and P500 and so they are still a growth stock. Their price to earnings ratio is 105. But they've done incredibly well, especially over the course of the past three months. When I really came back strong, invested more. They dipped right when the vaccines came out or the vaccines were approved and all of that. A few months ago, they dipped heavily. And then I bought very strongly after they dropped, I think like 20% in a day. I jumped into Etsy very heavily, bought them at 120 and now they're up to 190. And I feel like they're gonna be, they're gonna, you know, obviously they're winners because of the pandemic, but I feel like they're still a long term win. They're gonna be. It's part of the whole economic transition to technology. And I feel like Etsy will still do well in the future. So definitely a winner because of 2020, but they will, I feel like, continue to do. They're a great company. Okay, so Expi is another company that I've invested in this actually. This company is founded in Bellingham, Washington, which is where I live. And so there's a little bit of nostalgia there, but honestly, just the incredible stock. They sell real estate online without the need for a broker. And I bought this stock after it dipped. So it dipped really heavily in October. It was at $61 and it dropped all the way down in the 40s. So I bought it significantly in the 40s. And knowing that it was the future of real estate, again, this is a speculative play. More price to earnings ratio is like 240. But I feel like, number one, they're local. I like that. But they sell the way that they do their Brokerage in terms of not needing a real estate agent that is live and in person. The way that they can do their whole. The way they sell homes. I love their model. Their business model is great and they're a local company so I invested quite significantly in them and now their price is well over 70, $80 their share price. All right, so now these ones I'm going to get into now are a little more speculative. These are ones that are definitely a little bit of gambling, quote unquote on. But I've looked at all of their P. Ls, I've looked at their leadership, I've looked at what they're doing and that's the only reason I've invested them. And I'm very much fine with the fact if I lose the money that, you know, so be it. So, okay, so the one, this one is called mimecast and it's rare that I invest in a company out of the UK or like out of the US But I feel like this is a really good security kind of cybersecurity play. Mimecast and they've already gone up 35% since I purchased them. So I purchased them around $40 and now they're up around 58. This is not like a super fast growth company, but I feel like they were hurt a little bit by the pandemic when in reality I feel it's actually going to be long term. It's going to help them a lot in terms of just more and more people getting online and needing digital security, et cetera, cybersecurity. So mimecast has done well. Okay, this other one, Palantir, this is massively speculative. I purchased this at $19 and then it shot up to 30 and I sold off most of my stake and then it dipped down to like 24. I bought some more of it. So I've been swing trading. This one done very, very well, very fortunate. Lucky on this one like 60, 70% in the past month. Up on that. All right, Twilio, great company. So I bought this when it was under $300 a share. Twilio basically. Oh, sorry, I didn't really explain what palant teachers. Basically the reason I invested in Palantir is because I looked what happened with Snowflake and what happened with their IPO and the way that Snowflake was, was valued versus Palantir when they actually do similar stuff. Not exactly the same, but similar stuff. And so basically I saw a huge opportunity. I bought in and literally the next day it went up 20% like, it was ridiculous. It's not anything you can count on. It was luck. But, like, literally within a week, it went up to 30 and from 20 to 30, like 50% up. So I sold off most of my shares, waited for it to come back down to 24 after Trader Hype, and then bought back in. And now it's at like 27, 28. All right. Twilio, basically, it's a texting function that integrates with so many different softwares and platforms to be able to.

Utilize technology in the form of text messaging and connecting with your customers that way. So I bought them on their 300. They're now 362. Twilio is a great company. Again, they're still young. They are still not super profitable. It's not. They're kicking off billions of dollars. But I feel like this is a very stable company. I really, really believe in this company and I look forward to seeing what text texting technology kind of begins to improve. And we actually use Twilio for the gym for our marketing purposes with incoming leads and the lead, the sales funnel. So very, very happy with it. It's been. It's gone up 22% because I bought under 300. It's now 363. So great stock, in my opinion. The next one's very speculative. Shift. This is Shift Technologies ticker symbol F SFT. And they've traded about, only about 10% up since I've purchased them. But I'm a big believer in this company because they're used cars, selling them online. They only have a small, very, very small piece of the market compared to, like, Carvana or these other online used cars dealers. So the reason I'm a big believer is because I feel like used cars are going to be very big in the next 10 years as people become more frugal after 2020 and they see a big shock. Same thing happened after, like, 2008. Everyone gets really frugal and, like, stop spending money. Like, right now, the savings rate is the highest it's ever been in the United States. And so I'm a big believer in used cars. You know, I've seen the used car market go gangster bananas in terms of just the cost of these cars going up. And so I feel like Shift is dramatically undervalued. If you compare it. If you compare it to Carvana and these other big players in the used car market. And so I feel like they will do well. Again, very speculative. They've been trading sideways for a while, but I believe, like, Lemonade. They'll eventually be recognized and they're super small cap. So small cap stocks, basically small cap means like small valuation. This one's only $750 million. So like it's not a very big company compared to like Apple which is $2 trillion. Right. So it's the law of large numbers in terms of a large company is not usually going to double their market size. They're not going to double the stock price. It's very difficult law of large numbers. Whereas a small company can you get massive returns. Like Palantir went from 20 to 30 like 50% in a matter of just a week. That's not going to happen to Apple or Google or anyone like that. So these small cap stocks are. They can grow really fast, but they can also go to zero very, very fast. And so they're more speculative. I do have significant shares in Apple. I think we all know what Apple does, so I'm not going to go into that. And then the only recovery plays I bought were BP and Chevron and I bought them when they were at their very lowest a few months ago. So I'm up about 25, 30% on both of those. I'm not a big fan of them long term. I don't think we're going to be using fossil fuels very much in 10 to 20 years. Excuse me. But they're great recovery plays and kind of balance out my portfolio. That is very, very tech driven. All right. The next company is fastly. I purchased this one a couple months ago when they dropped down to. In the 60s. Yeah, like high 60s. Yeah, 60s is when I purchased in and it was because after basically on the report they basically stated how much they were dependent on TikTok and so their stock price won't drop from 120 down into the 60s, like literally almost half. So I purchased quite a bit then. It's now recovered significantly. So I'm doing really well on this one. The stock price is now 97. They basically do a lot of SDK stuff with when it comes to online platforms, social media stuff. So TikTok was a big customer that they lost. It was a big draw on their stock price and so that's when I purchased in. And so. Okay, I'm just gonna go through these other ones really quickly. So Hyli on very, very speculative hydrogen play in terms of creating a semi truck is what they're working on, right. To basically convert an existing truck into hydrogen powered natural gas. They're kind of that alternative fuel source and they're Working mostly right now on semi trucks. I purchased this one once. It dove down a bunch and I don't expect this one to do super well. I think one of my only stocks I've lost a little bit of money on because I purchased it I think at like $20 cost average. Now it's at 17. But again, little tiny part of the portfolio. Neo done really well on this one. This is an electric car manufacturer over in China. Kind of balances out my Tesla portfolio. And that one's been up and down, been day trading, that one, not day trading, swing trading, that one a little bit because it got hyped up at around the 50s, mid-50s. I sold off, let it drop down to 40, purchase back in a little bit. All right, Dropbox. I've purchased this one. Very speculative play because it could potentially be purchased. There's a chance it could be bought out. And so I bought a little bit of Dropbox also. The other kind of speculative play that I've bought into is Tattooed Chef. Tattooed Chef is a company that has always been doing private label for Trader Joe's, Walmart, other companies, and is now going creating their own private brand. And so I feel like their valuation the whole way that they've been valued in the past will be scrapped and they'll be valued at much higher valuations. So I hope that was helpful for some of you. And the biggest reason why I'm so invested in the stock market right now and have continued to really educate myself in that arena is because I do feel about three to five years when so many of our franchisees have grown their businesses, they're more established, they're really becoming profitable. They're going to want to be looking for that next avenue of investment, whether it be starting their own location, second or third location for Augusta, but also having the more passive approach of stock market trading, real estate and diversifying their portfolio as they begin to invest. And so I really feel an obligation to learn these things, be able to look at which companies are doing well and analyze these things and help them learn these things too. And so this has been a great learning opportunity for me. And again, I don't think that you should go through all those companies, just invest in them. Because I did. 2020 has been an awesome year. Like I said, 94 plus percent in terms of returns. I don't expect those next year. If I can get 20 to 30%, I'm very confident I can do that by having a balance of risk stocks that are small cap as well as blue chip companies. But again, you got to remember, you know, as a function of portfolio and net worth, not all my money is wrapped up in the stock market. Like I have real estate. We have 10 units of real estate, 10 apartment compl, 10 rentals properties that we rent in. And I have mass. Most of my, my net worth and what I focus on is Augusta Lawn Care, my businesses. And so what I invest in the stock market is not like going to hurt me if I lose it. So keep that in mind. I don't think you should go in there and just willy nilly throw money in just because I said it or someone other person on YouTube said it or Jim Cramer said it on Mad Money. Like I'm not a big fan of doing that. Like if you don't invest, if you can't analyze the numbers, if you can't make decisions on these companies and really know the fundamentals of trading and fundamentals of, of stock market investing. I'm not a big fan of day trading. I'm absolutely against someone just moving money in short term. Like that's all gambling in my opinion. And yes, some people do well and 2020 has been a year where the trader has won. But long term traders do not do well. Long term traders lose money. I do not do any sort of options. All right, So I know there's going to be questions in the Q and A. So let me just. Clearly, I don't do any options. Those are calls and puts where you're basically gambling if the company's going up or down. And yes, some people know, but I really feel like unless you have inside information, you're probably, you're literally just guessing with everybody else. And so I don't do any calls or puts in the form of options. I don't invest in bitcoin. All right? The reason for that is because there's just too many question marks and I cannot confidently know where it's going. There is not a stated value that I can look back and have a track record of history. All I see when I see bitcoin, bitcoin is going way up and way up and way down and up and down. And like there's, it's, it's incredibly volatile and I don't feel like there's any fundamentals. There's nothing I can go and lay my hands on. There's nothing that's there. And so that maybe I'm just old fashioned, you know, maybe, you know, everyone right now has invested in bitcoin. They have all the leverage in the world to say how stupid I am for saying those things because bitcoin has gone up so much in the past, you know, four or five months. And so, you know, kudos them, they've tripled their money in the past few months. But however, there's nothing holding it back from crashing in the next few months. It's not like I have a statement of cash flows or quarterly reports of a company that's actually producing revenue and producing cash flow. So I do not invest in bitcoin. It's something I do watch and if it dives again, maybe I'll buy back in a little bit, but it's never going to be a big part of my portfolio simply because currently I don't feel like it's strong enough. And I do feel like there's going to be some more bumps in the road. I do think that, though, that, you know, traditional currencies are going to get disrupted long term. I feel like gold is going to become a bigger, bigger play when it comes to currency. And so this whole pandemic has proven that gold has gone way up, Bitcoin has gone way up. And as the, you know, US dollar becomes more leveraged in the form of debt, these are all things that you got to keep in mind. But right now I am not going to invest in a, in a, in a piece of metal, basically gold. I'm not going to do that right now. It's an unproductive asset. It does not create cash flow, it does not create anything. And it is a piece of metal. You're basically, it's unproductive. It doesn't give me a dividend, it doesn't give any profits kicking off. It's not doing R and D and growing and expanding. It just sits there. And so do I feel like my opinions on that will change if we have a correction in those asset classes, probably. And, and I'll probably get a little bit of diversification in those areas. And again, right now, me saying that I, you know, people would say I'm stupid because they look at the past five months, what they don't see is the people who bought in 2018 in Bitcoin when it was, you know, 15, 16, 17,000 and then it went down to 4, 5, 6,000. So, you know, it all depends. You know, everyone online will jump around the next hyped thing, the next, the next stock that's going to go up 500%, the next Tesla, they're all over that. And, you know, kudos to them. Have fun. If you enjoy that, if that's a game for you. Great. But I'm not investing in that sort of thing. I only invest in companies I really believe in for the long term growth potential or I really believe in because they have solid balance sheets that are undervalued when it comes to their PE ratio. When I compare them against their cohort, competitors of their cohort and in their industry. So it's kind of my two cents. Hopefully that was helpful. I know it was a longer video, but if you're investing in stocks and things like that probably was interesting to you. So thank you so much everyone. You've been listening to Business Boot Camp podcast. I'm Mike Andes. We'll see you next time.