Stock Market Secret: How to Always Buy Low and Sell High

Summary

Adam Co emphasizes the key to successful investing is understanding intrinsic value, not just buying low and selling high. He debunks the misconception that low-priced stocks are cheap and high-priced stocks are expensive. Using Robin Hood and Meta Platforms as examples, he explains how to calculate intrinsic value and compares it to current share prices, revealing that Meta is undervalued at $467 despite its high price, while Robin Hood, despite its low price, is overvalued. He warns against relying on simple metrics like the PE ratio and encourages investors to look at a company's future cash flow potential.

Takeaways

• 📈 The secret to successful investing is to buy low and sell high, which means purchasing stocks when they are cheap in terms of their intrinsic value and selling when they are expensive.
• 💡 The intrinsic value of a stock is not determined by its absolute price but by its future cash flows discounted back to present value.
• 📉 Adam's investment lesson from the past was learning the hard way that a stock trading at a low price isn't necessarily cheap if its intrinsic value is close to zero.
• 🚫 Avoid common investor mistakes such as judging a stock's value solely by its price or using simplistic metrics like the PE ratio without considering growth potential and cash flow.
• 💹 Use a conservative approach to estimate a company's future cash flows and growth rates to avoid overestimation and potential investment losses.
• 💼 When valuing a business, consider it as a money-making machine and calculate its worth based on the cash it generates.
• 📊 Discount future cash flows to their present value using a discount rate that reflects the time value of money and the risk associated with the investment.
• 💰 A company's balance sheet, including cash and debt, plays a crucial role in determining its intrinsic value.
• 📈📉 The stock market can be driven by short-term emotions and manipulations, but long-term investment success relies on understanding and investing in stocks based on their intrinsic value.
• 🔢 Adam uses a specific intrinsic value calculator that he developed to estimate the intrinsic value of stocks like Meta Platforms and Robinhood.

Q & A

What is the key secret to successful investing according to Adam Co?

The key secret to successful investing is to buy low and sell high, which essentially means purchasing stocks when they are cheap in terms of their intrinsic value and selling when they are expensive.

Why can the absolute price of a stock be misleading?

The absolute price of a stock can be misleading because it does not reflect the intrinsic value of the company. A stock with a low price might be overvalued if the company is performing poorly, while a high-priced stock could be undervalued if the company has strong growth potential.

What is the intrinsic value of a stock and why is it important?

The intrinsic value of a stock is an estimate of the true value of a company based on its ability to generate cash flows in the future. It is important because it helps investors determine whether a stock is overvalued or undervalued relative to its current market price.

How did Adam Co's investment in L&M and Google illustrate the concept of intrinsic value?

Adam Co's investment in L&M, which was cheap in terms of absolute price but lost all its value, and Google, which was expensive in terms of absolute price but increased significantly in value, demonstrated that intrinsic value is a better indicator of a stock's potential than its absolute price.

What are the two major mistakes retail investors make according to Adam Co?

The two major mistakes retail investors make are: 1) Looking at the absolute price and assuming a low price means it's cheap and a high price means it's expensive, and 2) Using simple metrics like the PE ratio to determine if a stock is cheap or expensive without considering other factors like growth potential and cash flow.

Why can the PE ratio be misleading when valuing a stock?

The PE ratio can be misleading because it only considers the net profit, which can be an accounting entry and does not take into account the growth of the company, cash flow, or free cash flow generated.

What is the significance of the example Adam Co provided about the money-making machine?

The money-making machine example illustrates the concept of discounting future cash flows to their present value using a discount rate. This concept is crucial for determining the intrinsic value of a business or stock.

How does Adam Co calculate the intrinsic value of a business?

Adam Co calculates the intrinsic value of a business by estimating the cash the business will generate over the next 20 years, discounting that future cash flow to the present value, and then dividing by the number of shares to find the intrinsic value per share.

What factors does Adam Co consider when valuing Meta Platforms and Robinhood?

Adam Co considers factors such as the company's free cash flow, growth rate, balance sheet cash, debt, and the number of shares outstanding. He also uses a discount rate based on the company's beta to calculate the intrinsic value.

What is the difference in Adam Co's valuation between Meta Platforms and Robinhood?

According to Adam Co's valuation, Meta Platforms is undervalued with an intrinsic value of $532 per share compared to its market price of $467, while Robinhood is overvalued with an intrinsic value of only $7 per share compared to its market price of around $19.

Outlines

00:00

💹 The Secret to Successful Investing

Adam Co introduces the video by emphasizing the importance of understanding the intrinsic value of stocks to achieve consistent profits in investing. He explains that simply buying low and selling high is not enough, as one must discern the true value of a stock beyond its current market price. Adam shares his own experience of investing in a Singaporean construction company, L&M, which appeared cheap at three cents per share but eventually went bankrupt. In contrast, Google, which seemed expensive at $200 per share, turned out to be a great investment as its intrinsic value was much higher than its share price. Adam stresses that investors often make two major mistakes: relying on absolute stock prices and using simplistic metrics like the PE ratio, which can be misleading without considering a company's growth potential and cash flow.

05:01

📉 Beyond PE Ratios: The Importance of Intrinsic Value

Adam discusses the limitations of using the PE ratio as the sole metric for determining a stock's value. He uses Intel and Nvidia as examples to illustrate how a low PE ratio does not necessarily indicate a good investment. Intel had a PE ratio of 8, which seemed attractive, but its earnings were declining, making it a poor investment. Conversely, Nvidia had a PE ratio of 84, which appeared expensive, but it had significant growth potential, making it a valuable investment. Adam explains that intrinsic value is the true worth of a business, and investors should calculate this to determine if a stock is overvalued or undervalued. He introduces the concept of discounting future cash flows to present value using a discount rate, which accounts for the time value of money and the opportunity cost of investment.

10:02

💼 Calculating Intrinsic Value for Stocks

Adam demonstrates how to calculate the intrinsic value of a business by projecting its future cash flows and discounting them to present value. He uses Meta Platforms as an example, explaining that the company's current free cash flow and projected growth rates are key factors in this calculation. He conservatively estimates Meta's growth rates and uses a discount rate based on the company's cost of equity to arrive at an intrinsic value of $532 per share. Adam compares this to Meta's current market price of $467, concluding that the stock is still undervalued. He also mentions his personal investment in Meta and the profits he has made, while disclosing his vested interest in the company.

15:02

📉 Analyzing Robinhood's Stock Valuation

Adam contrasts Meta's valuation with that of Robinhood, which despite its low absolute price, is considered overpriced when its intrinsic value is analyzed. He notes Robinhood's inconsistent financial performance, with negative free cash flow in the last 12 months and no clear growth projections. Adam uses an average free cash flow from the past five years and an optimistic growth rate of 17.6% to calculate Robinhood's intrinsic value, which comes out to only $7 per share. He concludes that Robinhood's stock is overpriced at its current market price of around $19, making it an unattractive long-term investment.

20:03

🚀 Long-term Investing and Market Behavior

Adam concludes the video by reiterating the importance of long-term investing based on a stock's intrinsic value rather than short-term market fluctuations. He acknowledges that market prices can be driven by news, emotions, and manipulation in the short term, but ultimately, intrinsic value is what determines a stock's long-term performance. Adam encourages viewers to subscribe to his channel for more investing insights and to consider his online courses for learning about financial markets and investing strategies.

Keywords

💡Intrinsic Value

Intrinsic value refers to the real or fundamental value of an asset, in this case, a stock, which may differ from its market price. It is calculated based on the discounted cash flows that the business is expected to generate in the future. In the video, Adam Co emphasizes the importance of intrinsic value over the absolute price when determining whether to invest in a stock. He uses it to argue that while Meta Platforms may seem expensive at $467 per share, its intrinsic value is much higher, making it a good investment.

💡Absolute Price

The absolute price is the current market price of a stock or asset. Adam Co points out that many amateur investors mistakenly believe that a stock with a lower absolute price is cheaper and a better investment. However, he argues that without understanding the intrinsic value, one cannot accurately determine if a stock is truly cheap or expensive.

💡Discount Rate

The discount rate is the rate used to discount future cash flows to their present value. It reflects the time value of money and the risk associated with the investment. In the script, Adam Co uses a discount rate of 5% to calculate the present value of a hypothetical money-making machine's future cash flows, illustrating the concept of how future earnings are worth less than current earnings.

💡Free Cash Flow

Free cash flow is the cash a company generates after accounting for capital expenditures. It is a key indicator of a company's financial health and its ability to distribute cash to investors. In the video, Adam Co uses Meta Platforms' free cash flow of $49.58 billion to project its future cash generation and calculate its intrinsic value.

💡Growth Rate

The growth rate is the pace at which a company's earnings or revenues are expected to increase over time. It is a critical factor in determining a stock's intrinsic value. Adam Co uses conservative growth rate estimates for Meta Platforms, assuming 15% growth for the first five years, slowing to 7.5% for the next five, and then 4% for the final ten years.

💡Terminal Value

Terminal value is the present value of the cash flows that a company is expected to generate after a certain forecast period. It is often used in financial modeling to estimate the value of a company beyond the projection horizon. Adam Co mentions that he does not use terminal value in his calculations but assumes the company will make money for 20 years.

💡Beta

Beta is a measure of a stock's volatility in relation to the overall market. A beta of 1 indicates that the stock moves with the market, while a beta greater than 1 suggests greater volatility. In the script, Adam Co uses Meta Platforms' beta of 1.2 to determine a discount rate for calculating its intrinsic value.

💡Weighted Average Cost of Capital (WACC)

WACC is the average rate that a company expects to pay to finance its assets. It is often used as a discount rate in valuation models. Adam Co mentions that while some use WACC, he prefers to use the cost of equity, which is influenced by the beta, for his discount rate.

💡Overvalued/Undervalued

A stock is considered overvalued if its market price is higher than its intrinsic value, and undervalued if its market price is lower than its intrinsic value. Adam Co uses the intrinsic value calculation to determine that Robin Hood is overvalued at $19 per share, while Meta Platforms is undervalued at $467 per share.

💡Market Manipulation

Market manipulation refers to the artificial influence of the price of a stock or the market for personal gain. Adam Co cautions that in the short term, stock prices can be driven up by hype and manipulation, which can make a stock appear cheap even if it has no intrinsic value.

Highlights

The secret to successful investing is to buy low and sell high.

Absolute price can be misleading when determining a stock's value.

Intrinsic value is the key to identifying if a stock is cheap or expensive.

Robinhood (HOOD) at $19 is considered expensive, while Meta Platforms (META) at $467 is seen as cheap.

Adam Co's past investment mistake with L&M and Google stocks illustrates the importance of intrinsic value.

Two common mistakes by retail investors: relying on absolute price and using PE ratio alone.

PE ratio can be misleading as it doesn't account for company growth or cash flow.

Adam Co's experience with Intel and Nvidia shows pitfalls of solely using PE ratio for valuation.

Intrinsic value is calculated by projecting future cash flows and discounting them to present value.

Meta Platforms (META) is valued using a 20-year cash flow projection and a 6.6% discount rate.

Robinhood (HOOD) is valued with an average free cash flow due to inconsistent financials.

Adam Co's intrinsic value calculator is used to find the intrinsic value of stocks.

Meta Platforms (META) is found to be undervalued at $467 per share.

Robinhood (HOOD) is overvalued at $19 per share based on its intrinsic value of $7.

Short-term market prices are driven by emotions and manipulation, not intrinsic value.

Adam Co's personal investment in Meta Platforms (META) and his belief in its long-term value.

The importance of holding undervalued stocks like META for long-term wealth building.

Transcripts

hi this is Adam Co here and today I'm

going to share of you the most important

secret to successful investing you guys

ready so the most important ingredient

to achieving consistent profits in

investing is to buy low and sell high is

to buy cheap and sell expensive now I

know some of you are looking at me right

now and thinking yeah you're a genius of

course I know that but it's e easier set

than done like how do I know when

something's cheap and how do I know when

something's expensive because sometimes

looking at the absolute price can be

very misleading for example let's take a

look at two stocks right now Robin Hood

TI a symbol h o and meta

platforms Robin Hood is currently

selling at

$19 per share and meta platforms is

selling at

$467 per share so which stock is cheaper

and which is more expensive now most

amateur investors would say of course

this is cheaper it's only 19 bucks this

is so expensive $467 it's gone up so

much ever since the last two years well

wrong I'm going to prove to you in this

video that in fact Robin Hood At $19 is

expensive and meta platforms at

$467 is still the cheap why because the

absolute price means nothing unless you

know what is the intrinsic value of the

stock and then base the current share

price on that intrinsic value so this

was a lesson I learned many many years

ago over 16 years ago when I was not as

smart as I am today right so many years

ago I remember that I bought this stock

uh from the Singapore Stock Exchange it

was called L&M it was a construction

company that was selling at three

Singapore 4 cents now why did I buy this

stock because it looks so cheap I said

three cents how low can it

go and at the same time I remember at a

point of time Google listed on the US

exchange was selling at

$200 per share now it so happened that I

I bought both stocks but at the time I

thought that this was cheaper it would

go up even more whereas Google looked a

bit expensive I was a bit

uncertain but over a year later L&M from

three cents dropped to zero it went

bankrupt and I lost all my money

thankfully it was not a lot of money and

Google which I also bought from $200

went up to $1,000 a share and contined

to go up for the next couple of years in

fact today Google before doing the share

split of 20 to1 at today's price would

be worth 3,000

uh $500 per share of course they did a

share split so now it's

$178 share split so looking back I

realized that L&M at three cents was

actually very expensive because the

actual intrinsic value of L&M was

actually close to zero because the

company was losing a lot of money it was

on a verge of bankruptcy and at the same

time Google at $200 was really cheap

because the intrinsic value was actually

about

$600 of which the share price went above

that and then the intrinsic value Rose

over time to now it's in fact a lot

higher in fact I can tell you right now

Google is still the cheap so there are

two major mistakes that retail investors

make in the markets mistake number one

is looking at the absolute price and

thinking that a low price means it's

cheap and a high price means it's

expensive wrong instead you need to look

at the in inic value of the stock which

I'm going to explain in a while how I

calculate it and how I determine whether

the share price is above the intrinsic

value expensive or below the intrinsic

value cheap the second big mistake

investors make is by looking at a very

simple metric like PE ratio to determine

if a stock is cheap or expensive now I

actually made a video just on this it's

called the truth about PE ratios if if

you have not watched that video go watch

that video video after this video but

let me just summarize so PE ratio is a

very simple way to value a stock but it

can be often times very misleading

because PE ratio doesn't take into

account the growth of the company and

doesn't take into account the cash flow

or the free cash flow generated and only

looks at the net profit which sometimes

can be just an accounting entry that can

be very misleading so using PE ratio to

value a stock is like guessing a

person's weight by looking at their

Shadow and it can be very misleading

sometimes you see a big Shadow but a

skinny person uh from a certain angle

for example a year and a half ago in

January 2022 Intel had a very low PE

ratio of about eight times earnings and

Nvidia had a PE ratio of 84 times

earnings and so people who look at PE

ratio would have been misled they would

have thought hey this looks so cheap buy

Intel right this so expensive don't buy

Nvidia short Nvidia if you had followed

the p ratio you would have made the

worst mistake in your life because if

you actually do a proper valuation which

I'm going to teach you how to do in a

short well you would find that at 8times

PE intel was actually very

expensive why because the earnings were

not growing the earnings were declining

and true enough if you bought it at $50

at at time Intel would have dropped

almost by 50% down to about $30 today

and if you bought Nvidia at a point of

time Nvidia was selling at $300 by the

way I bought Nvidia at 150 right so I

was pretty lucky I bought it uh much

later than this actually but anyway even

if you bought at 300 bucks today

Nvidia as of yesterday's close uh after

hours is up to

$1,000 per share because although P of

84 times looks expensive but it was

actually not that expensive because

Nvidia had huge growth potential so what

is the meaning of intrinsic value and

how do we calculate it in the right way

so first understand that when you buy a

stock you are buying a piece of a

business so you got to know what the

business is worth and then divide it by

the number of shares to know what each

share is worth so what is a business

worth now a business is actually a

moneymaking machine so the more money it

makes the more it is worth got it so how

do you know how much money this machine

will make so let me illustrate with an

example over

here let's imagine you have got a

money-making machine and this is a

timeline I'm drawing this is

today this is a year later this is two 2

years later this is 3 years later and

let's imagine that this machine will

print $100

today right here right now so can you

tell me how much this machine is worth

if it prints $100

today it's worth $100 right because if

you buy for $100 the machine gives you

$100 you get back your money okay so the

value of this machine this the intrinsic

value is $100

simple enough enough what if I now told

you that if you bought this machine and

this machine would print $100 only

in a year so one year from now you get

$100 so what is this machine worth is it

worth $100 no because you have to wait a

year to get that 100 bucks so it's worth

less than 100 bucks if you were to buy

the machine today correct so what's the

machine worth today well it depends on

the opportunity cost of your money we

call this the discount rate so in other

words if you had the money to buy the

machine but you invested the money

somewhere else with the same risk what

rate of return would you get so let's

say for argument sake if you put your

money somewhere else you could get a

5% return so that's your discount

rate so what you then do is you take a

$100 which you will get in a year you

divide it by 1 plus the discount rate 1

+ 5% okay which is equal to 100 divide

by 1.05 that gives you

$95 taada so in other words this machine

is worth

$95 okay why because if you had $95

today and you invest it at 5% you get

$100 in a year's time next question what

if I had a money-making machine that I

bought today but it would print $100 in

two years so you wait one year you wait

two years and boom you get your1 $100

what is this machine worth is it worth

$100 no you could wait two years to get

your money so it's worth less than $100

and worth less than 95 bucks

so to get the answer you take a $100 and

divide it by again 1 plus the discount

rate but you have to discount it twice

to get to today's value so you got to

square it okay so what is $100 divided

by 1.05 squared you get

$91 so money received in the future is

worth less than money received today so

whatever money we get in the future we

have to discount it by a discount rate

to the present value okay last question

I promise so if I have a money-making

machine that I buy today that's going to

print

$100 right now and then another 100 in a

year and another 100 in two years so I

get 100 100 100 then what is this

machine worth today well this machine

will be worth $100

plus

95 plus

91 so this machine the intrinsic value

of the machine will be

$286 per uh $286 right so what has this

got to do with investing in a stock of a

business same thing so for example when

you invest in shares of meta platforms

which is a business you got to figure

out in the next 10 20 years how much

cash is the business going to generate

and you take all that future cash and

you discount it to today's value divide

by the number of shares and Tada you get

the intrinsic value of

mattera and then you compare it to the

share price if the share price is above

that it's overv valued if it's below

that it is undervalued so how do I

actually calculate the intrinsic value

of the entire business of matter or

Robin Hood and calculate the intrinsic

value per share well I use this

intrinsic value calculator that I

developed many many years ago and of

course once you enroll in our value

momentum investing course you can

download this calculator I'm going to

show you how I input the figures right

now so let's begin by valuing meta so

what are we trying to do we're trying to

figure out how much cash meta will

generate in the next 20 years it's like

the money-making machine generating cash

for the next 20 years and then

discounting all that future cash flow to

the present value now if you study for a

CFA in finance they teach you how to uh

project a business cash flow to

perpetuity using a terminal value but I

don't do that I just assume the company

will make money for 20 years and die so

anything more than 20 years it's a bonus

so I'm being very conservative here so

how much money is meta making right now

well if you go on to Yahoo finance for

example you can see the last 12 months

meta generated

49. 5.8 billion in free cash flow so

we're going to use that to project into

the future so let's put that in uh

49 5

18 million which is 49.5 one8 billion so

that is how much cash they are making in

one year all right so how much cash will

they make in the next 20 years so we

will project the growth rate over here

now what growth rate do we use that's

the tricky part if you go to a website

like finis you can see that they are

projecting

meta will be growing at about

30% annually for the next 5 years 30%

growth rate now I'm going to be really

conservative and divide it by

half it's always good to be conservative

so I'm going to assume that mattera is

only going to grow at

15% for the next 5 years and then after

that the following five years the growth

will slow down by half so what's half of

15% 7.5%

so that's the first 5 years of growth

the next 5 years and the last 10 years

I'm just going to assume mattera is

going to grow at 4% which is slightly

above the growth rate of the US economy

okay so that's how I put in these very

conservative growth rates then I've also

got to put in how much cash meta has on

their balance sheet right now you can

check that from the balance sheet

they've got $ 58 billion of cash

then I put in how much debt they have

short-term debt plus long-term debt from

the balance sheet they've got 18 billion

in debt so I put in all these numbers

over there and then I put in the number

of shares that they have because what

this calculator does is it's going to

project all the future cash flow for the

next 20 years it's like the machine

printing money for the next 20 years and

then discounting everything everything

to today's value value and divide it by

the number of shares to find out the

intrinsic value per share now what

discount rate do we use there are many

many uh ways to do it for example Warren

Buffett uses the 10year treasury yield

as his discount rate in a CFA cost

they'll teach you to use the weighted

average cost of capital but I use the

cost of equity so using this table over

here I check the uh the B beta of meta

is

1.2 that measures the volatility of the

stock and based on a 1.2 beta that gives

me a discount rate of

6.6% so I punched that in to the

discount rate and it will give me the

intrinsic value of mattera here there we

are so the final intrinsic value is

$532 as of yesterday's closing price

meta is selling at4

$167 per share and you can see that at

467 meta is still 12% under Valu it

still cheap so even though meta has gone

up from $80 to 467 it's gone up let's

see it's gone

up

400% it's still cheap and that is why I

continue to hold meta in my portfolio so

disclaimer that's right I'm still a

shareholder of meta so I do have some

vested interest right so you can see

this account I've got meta and I'm still

holding it right here it's up about you

know

$84,000 in in profits over there and uh

this other account meta is up uh

$888,000 in profits actually I'm up a

lot more than that but I was stupid

enough to sell some covered calls on

meta so some of my shares got taken away

damn it right but I still have a couple

of shares left which is not too bad I've

got about

I still have about let's see

$186,000 worth of meta shares in this

account and

another

88,000 worth of meta shares in my second

account so total is about 370,000 worth

of meta shares which is okay a decent

position now how about Robin Hood so

Robin Hood looks really cheap based on

its absolute price because it's now

trading at you know

$19.66 and some people may say well it

was at $84 Once Upon a Time looks really

cheap could it get back up there now do

bear in mind that in a short term market

prices are driven purely by emotions and

manipulation so even a business that has

got no intrinsic value that is uh losing

money going to die the share price can

go up because of hype and manipulation

because of some pussycat or like you

know Donald Trump's Media Company where

they're losing so much money the share

price could go up purely based on

manipulation but it is not sustainable

so as an investor if you're looking to

invest for the long run to build your

wealth then you don't want the price to

just go up in the short term based on

hype you want it to go up and keep going

up in the long run all right so that's

when intrinsic value comes into play so

would I buy Robin Hood At today's share

price not that I think the hype is going

to drive up but I think it's worth $119

well let's do a valuation so the first

thing to do is to take a look at how

much cash Robin Hood is making right now

and then we project it to the next 20

years and discount it to present value

so going to Yahoo finance you can see

that for Robin Hood it's actually losing

money for the last 12 months they

actually had a negative free cash flow

of

$295

million and um so what what happens I

mean it's negative we can't put in a

negative figure right and you can see

their free cash flow is very

inconsistent in 2020 it was you know

1 uh 8 billion and then it was minus

968 million uh then it was minus 900

million then it was 1.16 billion so it's

like it's it's like all over the shop

right they make money they lose money

they make money they lose money right so

what do you do in a situation like that

so personally the way I would value it

in such situation is to take the average

free cash flow over the last three or

five years so if you take the average of

The Last 5 Years at all the five years

together and divide by five you get an

average free cash flow

of

66.4

million okay1 66.4 million so if we

punch that into the intrinsic value

calculator 16

6.4 million okay and Robin Hood has

total debt of

4.2 billion in debt they've got 4.7

billion in cash now how about the growth

of the company what is the growth rate

well if you go to uh various websites

you notice there's no projected growth

rate because the company is so

inconsistent there are no analyst that

can make a decent projection for example

if you go to finis you can see that the

next uh 5 years sorry that's mattera

let's go to Robin Hood the next 5 years

the projection is undefined right but

they are projected to grow at

5.97% next year they can only project

one year but beyond that they say we

have got no freaking clue okay and if

you go to another website Guru Focus you

can see again they usually give a future

growth rate undefined so we have no idea

what the growth rate is so inconsistent

so the only thing I can do is to put in

the future Revenue growth rate which uh

in this website they Define it as

17.6% so being very optimistic let's use

17.6% in the growth rate so if we punch

in

17.6% and let's assume they can grow at

17.6% for the next 10 years right let's

put that in and even with a 177% growth

rate uh their intrinsic value comes up

to only

$7 so at today's share price of

$19 it is way overpriced it's overpriced

but by1 71% and that is why I believe

that Robin Hood is actually expensive at

today's price and meta is actually cheap

at today's price now that does not mean

that I can predict that mattera will go

up the next day the next week or the

next next month and Robin Hood is going

to go down the next day the next week

the next month no remember in the short

term anything can happen in the short

term the market is driven by news

emotions and manipulation so sure Robin

Hood could go up in the short term meta

could go down in the long term but in

the long run I rather hold mattera which

I know is undervalued now than holding

Robin Hood over the long run so I do

hope you have found this video

enlightening and if you have do gives a

thumbs up so thank you for watching and

as always me the markets be with you if

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