WEBVTT 00:00:01.610 --> 00:00:04.889 Hi, Eric from Time to Retire here. I bought £3 00:00:04.889 --> 00:00:08.769 ,000 worth of NASDAQ three times short this morning. 00:00:08.910 --> 00:00:11.529 Now, if you watch the financial press, you won't 00:00:11.529 --> 00:00:15.089 have missed that flurry of news around the NASDAQ 00:00:15.089 --> 00:00:18.710 and the S &P 500 teetering on the brink of collapse. 00:00:31.370 --> 00:00:35.509 Now, this news has been mainly driven by the 00:00:35.509 --> 00:00:39.030 circular trading with Nvidia buying into OpenAI, 00:00:39.469 --> 00:00:42.490 who then returned the favor by buying Nvidia 00:00:42.490 --> 00:00:46.710 chips. Not a great look, you'll admit. But will 00:00:46.710 --> 00:00:49.710 this be enough to ruffle the feathers of the 00:00:49.710 --> 00:00:52.950 tech markets? I'm not so sure. But if you want 00:00:52.950 --> 00:00:56.170 to follow along, I'm going to sell my investments 00:00:56.170 --> 00:01:00.649 of £3 ,000 in 14 days on the 30th of October. 00:01:01.310 --> 00:01:02.789 And what I want to do is every day I'm going 00:01:02.789 --> 00:01:07.189 to post a video here with an update on how my 00:01:07.189 --> 00:01:10.709 £3 ,000 investment's getting on and what's happening 00:01:10.709 --> 00:01:26.890 in the US markets to drive any changes. Now, 00:01:27.069 --> 00:01:30.230 the NASDAQ three times short is a bit of a gamble. 00:01:30.680 --> 00:01:33.700 and as a youtuber i do get paid to produce silly 00:01:33.700 --> 00:01:37.000 content sometimes and as part of that i can afford 00:01:37.000 --> 00:01:40.659 to do silly things occasionally now if this was 00:01:40.659 --> 00:01:44.099 just my own investing i would not be doing something 00:01:44.099 --> 00:01:47.319 like this so please see this for what it is which 00:01:47.319 --> 00:01:50.780 is entertainment and definitely not any kind 00:01:50.780 --> 00:01:54.359 of financial advice now in case you don't know 00:01:54.359 --> 00:01:58.769 what the nasdaq 3x short is then I'll explain 00:01:58.769 --> 00:02:07.909 in the next few videos. But for now, all you 00:02:07.909 --> 00:02:11.629 need to know is that if the NASDAQ goes up by 00:02:11.629 --> 00:02:15.270 10 % in the next two weeks, I'll lose about £1 00:02:15.270 --> 00:02:20.449 ,000. See you tomorrow. Hey guys, Eric from Time 00:02:20.449 --> 00:02:24.250 To Retire here. Yesterday, I put £3 ,000 into 00:02:24.250 --> 00:02:28.550 the NASDAQ three times short. And in 24 hours, 00:02:28.610 --> 00:02:43.030 I've made 5 .6 % on my investments. Just luck, 00:02:43.030 --> 00:02:46.449 you say? How very dare you. It's down to precision 00:02:46.449 --> 00:02:50.389 timing, expert knowledge, and an instinct for 00:02:50.389 --> 00:02:54.330 market changes. No, yeah, you're right. It's 00:02:54.330 --> 00:02:58.270 just pure luck. Probably sometime later today 00:02:58.270 --> 00:03:01.469 or Monday morning, things are going to flip and 00:03:01.469 --> 00:03:04.229 I'll probably be worse off than when I started. 00:03:05.610 --> 00:03:11.310 So this is day two of 14, because in 14 days, 00:03:11.430 --> 00:03:14.909 I'm going to cash in my investment to see how 00:03:14.909 --> 00:03:19.569 my gamble went. Now, I can tell you, I'm not 00:03:19.569 --> 00:03:22.139 hopeful really. I mean, here's the performance 00:03:22.139 --> 00:03:25.340 of the index I've invested in over the past six 00:03:25.340 --> 00:03:34.360 months. Grim, isn't it? There are even warnings 00:03:34.360 --> 00:03:37.199 on the investment page that holding this index 00:03:37.199 --> 00:03:40.979 for anything other than a day or two is never 00:03:40.979 --> 00:03:44.580 a good idea. So why am I doing it? Well, because 00:03:44.580 --> 00:03:47.639 I make YouTube content and I thought it'd be 00:03:47.639 --> 00:03:53.599 interesting. Now, I'm not recommending this and 00:03:53.599 --> 00:03:56.240 I'm not trying to give any financial advice here. 00:03:57.099 --> 00:04:02.580 So, I would absolutely love to cash in my £142 00:04:02.580 --> 00:04:06.740 .28 profit now and use it to buy lots of tapas 00:04:06.740 --> 00:04:09.840 next week when Tracy and I have a few days in 00:04:09.840 --> 00:04:13.939 Spain. But, in the interest of my YouTube channel, 00:04:14.099 --> 00:04:17.060 I'm going to leave it exactly where it is until 00:04:17.060 --> 00:04:24.439 the 30th of October. So I have one question for 00:04:24.439 --> 00:04:28.360 you. I put £3 ,000 in yesterday. Today I've got 00:04:28.360 --> 00:04:31.600 £3 ,140. In the comments below, I'd love it if 00:04:31.600 --> 00:04:32.699 you would put in your best guess of how much 00:04:32.699 --> 00:04:38.699 I will have on the 30th of October. Now, shorting 00:04:38.699 --> 00:04:42.899 or inverse position means the investment is designed 00:04:42.899 --> 00:04:45.560 to profit when the underlying asset or index 00:04:45.560 --> 00:04:52.079 goes down in value. So, for example. if the underlying 00:04:52.079 --> 00:04:55.720 index falls by one percent then a standard inverse 00:04:55.720 --> 00:05:00.879 product would aim to gain one percent now the 00:05:00.879 --> 00:05:04.300 3x or the triple leverage part means that the 00:05:04.300 --> 00:05:07.779 fund attempts to magnify the daily returns by 00:05:07.779 --> 00:05:11.639 a factor of three so an example here would be 00:05:11.639 --> 00:05:15.639 that if the underlying index falls by one percent 00:05:15.639 --> 00:05:20.120 the 3x your product aims to gain three percent 00:05:20.649 --> 00:05:24.189 or three times the inverse return and of course 00:05:24.189 --> 00:05:29.230 vice versa on that as well so my short position 00:05:29.230 --> 00:05:32.050 is not just a gamble it's actually a gamble on 00:05:32.050 --> 00:05:35.329 steroids i mean markets are closed over the weekend 00:05:35.329 --> 00:05:38.050 so i'm not gonna be able to let you know how 00:05:38.050 --> 00:05:40.350 i get on tomorrow or sunday but i will be back 00:05:40.350 --> 00:05:42.750 on monday and i'll let you know how i'm getting 00:05:42.750 --> 00:05:45.550 on then thanks for watching see you soon okay 00:05:45.550 --> 00:05:50.290 i'm an idiot i've lost over 10 % of my investments 00:05:50.290 --> 00:05:53.889 in 24 hours of trading. Now, Friday morning, 00:05:54.009 --> 00:05:58.569 my investment was at 5 .6 % up, and now as the 00:05:58.569 --> 00:06:01.889 markets open on Monday morning, I'm 4 .7 % down. 00:06:06.850 --> 00:06:12.730 Now, what did I do wrong? All the advice I hear 00:06:12.730 --> 00:06:17.579 is to invest in market indices. i invested in 00:06:17.579 --> 00:06:21.040 the nasdaq an index of us companies well with 00:06:21.040 --> 00:06:23.319 a tilt towards tech stops but it's still an index 00:06:23.319 --> 00:06:26.899 well two mistakes jump out immediately firstly 00:06:26.899 --> 00:06:30.819 i bought the inverse of the market so as the 00:06:30.819 --> 00:06:34.180 market goes up my investment goes down secondly 00:06:34.180 --> 00:06:37.519 i bought a product that uses derivatives to apply 00:06:37.519 --> 00:06:41.639 a three times multiplier to my investment so 00:06:41.639 --> 00:06:44.220 when it does go down it goes down three times 00:06:44.220 --> 00:06:48.189 faster Now, of course, the inverse would be true 00:06:48.189 --> 00:06:53.910 if the NASDAQ. My investment will go up by three 00:06:53.910 --> 00:06:56.129 times the amount. The only problem with that 00:06:56.129 --> 00:06:59.810 is that the NASDAQ has recently been on one of 00:06:59.810 --> 00:07:04.009 the best performance runs ever. So my little 00:07:04.009 --> 00:07:08.110 experiment is now in day five of 14 and over 00:07:08.110 --> 00:07:10.569 a third of the way through. Now, the experiment 00:07:10.569 --> 00:07:15.199 is to invest £3 ,000 in an attempt to. time the 00:07:15.199 --> 00:07:18.399 market for a crash in the ai stocks hey that's 00:07:18.399 --> 00:07:21.439 a really good idea and that's being widely predicted 00:07:21.439 --> 00:07:27.019 some even give the 29th of october as the day 00:07:27.019 --> 00:07:29.959 and i finish on the 30th now time in the market 00:07:29.959 --> 00:07:33.339 though is really a bad idea nobody can predict 00:07:33.339 --> 00:07:37.620 a market rise or a market fall over a 14 -day 00:07:37.620 --> 00:07:42.540 period now give me a 14 -year period I can give 00:07:42.540 --> 00:07:45.540 you the right direction 99 .9 % of the time. 00:07:45.839 --> 00:07:49.620 The market will go up in the next 14 years. And 00:07:49.620 --> 00:07:51.980 I'll take a bet from anybody on here on that. 00:07:52.899 --> 00:07:56.279 14 days though, that's a coin flip. Let's see 00:07:56.279 --> 00:07:59.180 how I get on tomorrow, where likely I'll be in 00:07:59.180 --> 00:08:06.360 an airport. More then. So, my NASDAQ experiment 00:08:06.360 --> 00:08:09.639 took quite the hit yesterday on day 5 of 14 of 00:08:09.639 --> 00:08:12.540 my stock market crash test. I mean, NASDAQ three 00:08:12.540 --> 00:08:14.459 times short. It hasn't moved much this morning, 00:08:14.560 --> 00:08:17.199 but the last few trading days have been a bit 00:08:17.199 --> 00:08:19.879 of a roller coaster. So this morning, I'm in 00:08:19.879 --> 00:08:22.259 an airport about to catch a flight, but I want 00:08:22.259 --> 00:08:25.579 to explain what went so wrong yesterday. Why 00:08:25.579 --> 00:08:29.399 did the NASDAQ increase so much? Well, this week, 00:08:29.459 --> 00:08:32.299 tech are really delivering some results. So we've 00:08:32.299 --> 00:08:35.759 got Netflix leading the charge today. And investors 00:08:35.759 --> 00:08:37.799 there are going to be looking at subscriber counts. 00:08:38.000 --> 00:08:40.779 But you've also got Coca -Cola. And their report 00:08:40.779 --> 00:08:43.019 today, and this will give a bit of a read on 00:08:43.019 --> 00:08:46.779 consumer strength. Now, tomorrow, Wednesday, 00:08:47.100 --> 00:08:50.740 all eyes are going to be on Tesla. I mean, it's 00:08:50.740 --> 00:08:53.519 coming off a record quarter for deliveries, but 00:08:53.519 --> 00:08:56.000 it is facing quite a lot of questions about its 00:08:56.000 --> 00:08:59.360 lower cost models, thinner margins, competition 00:08:59.360 --> 00:09:04.950 from China. Intel also reports on Thursday. analysts 00:09:04.950 --> 00:09:07.149 there will be watching for the recovery of the 00:09:07.149 --> 00:09:09.750 pc and the data center businesses and they're 00:09:09.750 --> 00:09:12.029 both under pressure from ai driven competitors 00:09:12.029 --> 00:09:17.490 like nvidia and amd so is there any good news 00:09:17.490 --> 00:09:20.549 for me this week well the september cpi report 00:09:20.549 --> 00:09:24.370 hits this friday and it's expected to show inflation 00:09:24.370 --> 00:09:27.990 does remain stubbornly high particularly in services. 00:09:28.929 --> 00:09:31.330 Economists anticipate that the headline figure 00:09:31.330 --> 00:09:35.330 will hover around 3 .1 % year over year. Now, 00:09:35.350 --> 00:09:38.629 the ongoing government shutdown means economic 00:09:38.629 --> 00:09:41.750 visibility is still pretty murky, really. Much 00:09:41.750 --> 00:09:43.929 of the usual labour and spending data hasn't 00:09:43.929 --> 00:09:46.490 actually been released for three weeks, and that 00:09:46.490 --> 00:09:50.789 makes the CPI data even more important. Now, 00:09:50.789 --> 00:09:53.309 Fed officials have signalled that another 25 00:09:53.309 --> 00:09:56.490 basis point cut is likely. if inflation cools 00:09:56.490 --> 00:10:00.169 just enough to give policymakers room. And the 00:10:00.169 --> 00:10:02.230 market seems to be pricing that in with some 00:10:02.230 --> 00:10:05.970 growing confidence. So I'll see you at the halfway 00:10:05.970 --> 00:10:09.789 point tomorrow, day 7 of 14, from some distant 00:10:09.789 --> 00:10:13.950 shore. Okay, day 7 of 14, halfway through my 00:10:13.950 --> 00:10:18.519 experimenting time in the market crash. I've 00:10:18.519 --> 00:10:20.039 got a few different pension pots and the one 00:10:20.039 --> 00:10:23.019 I'm using for this experiment is my 10 -year 00:10:23.019 --> 00:10:26.539 SIP or the free trade SIP that I won't be actually 00:10:26.539 --> 00:10:29.919 accessing for at least 10 years. This means my 00:10:29.919 --> 00:10:33.159 risk appetite is a bit higher than my main pot 00:10:33.159 --> 00:10:37.320 which I hold in Interactive Investor. And that's 00:10:37.320 --> 00:10:40.440 a pot I'll be drawing down from in the next 10 00:10:40.440 --> 00:10:45.159 years. Now, anybody who is a member of my channel 00:10:45.159 --> 00:10:48.450 on here will know that I detail my individual 00:10:48.450 --> 00:10:52.210 investments regularly. So at the midway point 00:10:52.210 --> 00:10:57.610 through my NASDAQ three times short, I'm £94 00:10:57.610 --> 00:11:02.830 down on my £3 ,000 investments or just over 3 00:11:02.830 --> 00:11:15.840 % for the week. So I'm happy overall. No sign 00:11:15.840 --> 00:11:18.559 of that imminent stock market crash. See you 00:11:18.559 --> 00:11:39.519 tomorrow. So week one is behind me in my two 00:11:39.519 --> 00:11:41.879 week experiment to time the market for a crash. 00:11:42.299 --> 00:11:44.860 Last night was the big one. the Tesla earnings 00:11:44.860 --> 00:11:47.980 call. Now, Tesla said its profit fell more than 00:11:47.980 --> 00:11:52.019 a quarter due to a trio of issues, an increased 00:11:52.019 --> 00:11:56.480 cost of US tariffs, the loss of emissions credit 00:11:56.480 --> 00:11:59.639 revenue, and also the vast expense of its pivot 00:11:59.639 --> 00:12:03.320 towards robotics and AI. All three of these things 00:12:03.320 --> 00:12:06.879 ate into its margins. Now, Elon Musk said its 00:12:06.879 --> 00:12:10.120 third quarter adjusted net income fell by 29 00:12:10.120 --> 00:12:14.120 % year on year. to 1 .8 billion which missed 00:12:14.120 --> 00:12:18.620 the expectations of 1 .9 billion. Now investors 00:12:18.620 --> 00:12:21.519 had hoped for a boost from record vehicle sales 00:12:21.519 --> 00:12:25.500 in the quarter as consumers rushed to make purchases 00:12:25.500 --> 00:12:28.779 before the end of the US green vehicle incentive 00:12:28.779 --> 00:12:32.919 but extra costs including spending on AI talents 00:12:32.919 --> 00:12:37.299 actually eroded Tesla's profits. Revenue did 00:12:37.299 --> 00:12:40.279 surpass the analyst estimates of £26 .6 billion, 00:12:40.480 --> 00:12:45.200 rising 12 % to £28 .1 billion. However, its operating 00:12:45.200 --> 00:12:49.940 margin of almost half to 5 .8 % from 10 .8 % 00:12:49.940 --> 00:12:54.360 per year. This meant that Tesla's shares on the 00:12:54.360 --> 00:12:57.759 announcement dipped by 3 .5 % in aftermarket 00:12:57.759 --> 00:13:00.419 trading. It'll actually be interesting to see 00:13:00.419 --> 00:13:03.559 where they go when the markets do open a bit 00:13:03.559 --> 00:13:08.179 later. So, for the week, anyway, I'm £630 up 00:13:08.179 --> 00:13:12.360 in this portfolio, but £34 down on my NASDAQ 00:13:12.360 --> 00:13:16.019 3X. See you tomorrow. Eric from Town to Retire 00:13:16.019 --> 00:13:19.639 here. Welcome to day 9 of 14 of my time in the 00:13:19.639 --> 00:13:21.960 market crash experiment. I mean, after some good 00:13:21.960 --> 00:13:25.419 news for me with a very poor Tesla quarterly 00:13:25.419 --> 00:13:28.860 report, I had some bad news from Intel. They 00:13:28.860 --> 00:13:31.600 did quite a bit better than the analysts expected. 00:13:31.940 --> 00:13:34.710 The share price jumped. up about seven percent 00:13:34.710 --> 00:13:38.690 overnight so over the nine days i'm in the red 00:13:38.690 --> 00:13:44.049 by 110 pound on my 3 000 pound investment now 00:13:44.049 --> 00:13:46.190 the whole premise of the experiment is based 00:13:46.190 --> 00:13:49.950 on ai creating a bubble latitude to burst now 00:13:49.950 --> 00:13:53.590 of course intel do make computer chips but they 00:13:53.590 --> 00:13:58.330 focus on cpus rather than gpus and the gpus are 00:13:58.330 --> 00:14:01.769 the ones that are driving the world of ai so 00:14:01.769 --> 00:14:05.669 for an indication that an ai bubble was imminent 00:14:05.669 --> 00:14:08.929 we'd be more looking to likes of nvidia results 00:14:08.929 --> 00:14:13.730 rather than intel or even microsoft google amazon 00:14:13.730 --> 00:14:17.549 all of whom are very heavily dependent on ai 00:14:17.549 --> 00:14:21.149 for their future growth my portfolio for the 00:14:21.149 --> 00:14:25.610 week is is up 1100 pound so overall i'm pretty 00:14:25.610 --> 00:14:33.289 happy see you tomorrow I'm Eric for Time to Retire. 00:14:33.509 --> 00:14:37.269 Now I'm nine and a half percent down in my time 00:14:37.269 --> 00:14:39.970 of the market crash with only three days left 00:14:39.970 --> 00:14:42.149 to recover my position. Now over the weekend 00:14:42.149 --> 00:14:44.789 I have been thinking about the impact of index 00:14:44.789 --> 00:14:47.789 investing on the markets and in particular the 00:14:47.789 --> 00:14:50.990 Nasdaq which is after all the index I'm betting 00:14:50.990 --> 00:14:56.190 against. Now in a fair marketplace the share 00:14:56.190 --> 00:14:58.750 price for companies who are overvalued based 00:14:58.750 --> 00:15:01.919 on their performance drops. And the share price 00:15:01.919 --> 00:15:05.519 increases for those that are undervalued. But 00:15:05.519 --> 00:15:10.179 passive index investing screws this up. The percentage 00:15:10.179 --> 00:15:12.860 of investments going to index funds, passive 00:15:12.860 --> 00:15:17.120 investing, has been growing rapidly. Passive 00:15:17.120 --> 00:15:21.059 funds account for around 29 % of the total investments 00:15:21.059 --> 00:15:24.120 across the world. But in the United States, where 00:15:24.120 --> 00:15:28.340 my Nasdaq 3X short lives, passive index funds, 00:15:28.460 --> 00:15:31.220 which include... index mutual funds and etfs 00:15:31.220 --> 00:15:35.639 have reached a significant milestone as of august 00:15:35.639 --> 00:15:39.840 2025 index mutual funds and etfs accounted for 00:15:39.840 --> 00:15:46.159 50 .6 of the total nest assets in long -term 00:15:46.159 --> 00:15:51.360 mutual funds and etfs been even worse for domestic 00:15:51.360 --> 00:15:54.559 equity funds where the index share of total assets 00:15:54.559 --> 00:15:59.480 is higher and reportedly at 61 .7 % and rising. 00:15:59.740 --> 00:16:03.580 So the idea that the share price for overvalued 00:16:03.580 --> 00:16:06.419 companies will drop, I think could be broken. 00:16:06.720 --> 00:16:10.500 Share price is so heavily influenced by people 00:16:10.500 --> 00:16:13.820 passively investing in the whole market. And 00:16:13.820 --> 00:16:17.159 my experiments is focused on the overvaluation 00:16:17.159 --> 00:16:21.320 of the Magnificent Seven because our index investments 00:16:21.960 --> 00:16:24.799 uh market capital weighted then every time you 00:16:24.799 --> 00:16:27.559 put a hundred pound into a nasdaq investment 00:16:27.559 --> 00:16:30.659 you're putting the largest percentage of that 00:16:30.659 --> 00:16:34.500 into the magnificent seven even if they're overvalued 00:16:34.500 --> 00:16:38.059 so has the stock market been broken by too much 00:16:38.059 --> 00:16:41.080 passive index investing let me know in the comments 00:16:41.080 --> 00:16:46.100 and i'll catch you up tomorrow two days two days 00:16:46.100 --> 00:16:49.019 left to recover my 10 loss on my experiments 00:16:49.759 --> 00:16:53.340 to time a market crash for the Nasdaq. Now, I've 00:16:53.340 --> 00:16:57.059 blamed Intel, I've blamed index investors, but 00:16:57.059 --> 00:17:01.399 it's about time we faced reality. A reality we 00:17:01.399 --> 00:17:04.900 knew all along. Time in the market is not big, 00:17:05.000 --> 00:17:11.279 and it's not clever. Fortunately, my entire portfolio 00:17:11.279 --> 00:17:14.480 is made up of medium -term investments that have 00:17:14.480 --> 00:17:17.880 done really well, and I'm up about 25 % over 00:17:17.880 --> 00:17:20.069 the last six months. And that's even when you 00:17:20.069 --> 00:17:24.069 include my failed bet on the market crash for 00:17:24.069 --> 00:17:28.150 the NASDAQ. Imagine, though, I'd gone heavy. 00:17:28.430 --> 00:17:31.609 I mean, as it is, I put about 1 .5 % of my SIP 00:17:31.609 --> 00:17:35.150 portfolio into this experiment. So a 10 % loss 00:17:35.150 --> 00:17:40.309 reflects less than 0 .2%. That's pretty much 00:17:40.309 --> 00:17:42.910 a flicker in the volatile market environment 00:17:42.910 --> 00:17:46.799 we're currently invested in. Anyway. As promised, 00:17:46.900 --> 00:17:49.900 I will be selling up on my NASDAQ three times 00:17:49.900 --> 00:17:52.579 short position on Thursday morning. And I will 00:17:52.579 --> 00:17:54.759 come back to you then. Lest anything dramatic 00:17:54.759 --> 00:17:58.259 happens over the next 48 hours. I'll see you 00:17:58.259 --> 00:18:01.319 Thursday morning, 30th of October. My experiments 00:18:01.319 --> 00:18:05.539 over. Over the two weeks I held the NASDAQ three 00:18:05.539 --> 00:18:08.539 times short, my investments dropped by nearly 00:18:08.539 --> 00:18:13.890 11%, meaning a £3 ,000 investment. ended up at 00:18:13.890 --> 00:18:19.670 £2 ,673. So big shout out to Mike Todd who predicted 00:18:19.670 --> 00:18:24.049 my investment would end up at £2 ,640. So really, 00:18:24.049 --> 00:18:26.950 really close. Now the time in the experiment 00:18:26.950 --> 00:18:30.829 to end on the 30th of October wasn't random as 00:18:30.829 --> 00:18:34.150 you probably guessed. The Federal Reserve announced 00:18:34.150 --> 00:18:39.450 a 25 % basis points cut last night and that was 00:18:39.450 --> 00:18:42.210 as the markets expected. And had been priced 00:18:42.210 --> 00:18:44.849 in for months, to be honest. Now, if they hadn't 00:18:44.849 --> 00:18:47.910 cut rates, this could have been a very different 00:18:47.910 --> 00:18:52.789 ending. Now, on the same evening, we had Microsoft, 00:18:53.230 --> 00:18:57.990 Google and Meta with quarterly results. Again, 00:18:58.049 --> 00:19:01.789 but no major deviation from market expectations 00:19:01.789 --> 00:19:06.150 there. And lastly, Trump announced an agreement 00:19:06.150 --> 00:19:11.339 on trade with China. Although my investment did 00:19:11.339 --> 00:19:15.200 improve today by 3%, it wasn't nearly enough 00:19:15.200 --> 00:19:19.099 to reverse my losses. But hey -ho, the moral 00:19:19.099 --> 00:19:21.480 of this little story is that time in the market 00:19:21.480 --> 00:19:24.440 is never a good idea. Thanks for watching.