As-salamu alaykum everyone, I hope you are doing well. Today is August 19th and Tesla is at 220. We got a rebound there, not that I have any doubts. BTC is at 58,700. Today we're going to talk about some really interesting data points in the market. Congrats to all PIF members, we're having a very solid day in the markets today. Without further ado, let's get started. Not financial advice, be sure to do your own due diligence before making any investing decisions. And if you're not a PIF member, make sure you become a PIF member before prices go up. The value that we're providing, I think is multiple fold what the price is. So this is an investment worth making. If you're not a PIF member, I'd encourage you to become one. Today or this week, in terms of announcements that we can look to, we have the Jackson Hole, much anticipated Jackson Hole Fed Chair Commentary. This has become an annual event that is anticipated by investors. There's a lot of movement in the market. Since 2000, S&P is up on average 0.4% just in the week following Jackson Hole Commentary. So there's an increase in volatility associated with this event in the market. Sometimes it's up, sometimes it's down, but there is a bias upward. And I think that investors are optimistic about what's going to come out of the Fed Chair's mouth during this meeting, as is evidenced by the fact that more than $3 trillion has been added to the S&P 500 since the August low. So investors are looking for the Fed to signal softening of monetary policy. I think he'll do that without necessarily saying that it will start in September because he doesn't want to restrict himself or overly restrict himself and the options that he has. So he'll probably say something along the lines of, we're seeing some encouraging data that will allow us to change monetary policy from where we are right now to something a bit softer. We'll continue to look at the data as it comes in and make decisions accordingly. And the market wants to hear that, but I'm fairly certain that this is the gist of what he's going to say. Now, while I was, this is kind of separate from investing, but while I was looking through the sources that I'd like to scour to find you guys the information that you need to know about the markets, I did come across a report and a story, actually, that was quite sad of a retired woman who was basically got her retirement savings stolen from her, an elderly woman. And so I just wanted to take this opportunity to remind everyone who is watching or listening to be very careful. Criminals are targeting elders at an increasing rate. And so, you know, if you're a retiree, understand that you are a target. Don't trust anything that you see or hear. Don't trust any phone calls you get. Don't trust any emails you get. Go to the source only. Don't click on anything. And before you do anything, if you have any doubts, ask your friends, ask your family, people you trust. Hey, this happened to me. What would you do in this situation? It's often easier for a third party to spot a scam than the person that is in it. If you have parents that you think may be susceptible to this, make sure you call them, let them know, hey, criminals are targeting retirees. Make sure you don't share your banking information with anyone. Don't trust any phone calls you get. Don't trust any emails. Don't pull money and give it to someone. Don't send money to anyone that requests it, anyone that you don't know. So just be very careful. And you can see in the graph that I showed you how the reported losses for people over 60 is, you know, a disproportionate amount of losses that have been incurred from criminal schemes. So that's just sort of a side quest that we went on. Back to investing. So I wanted to show you this last week we had an elite members session where we analyzed the company deeply. We did a deep dive on it. And I just wanted to, I guess, give sort of public lessons as well, not just all private and give you a taste of some of the deep dives that we do and the benefits from them. So I noticed this. So look at General Motors versus Tesla. If you look at, this is from Seeking Alpha. If you look at the valuation grade for General Motors versus Tesla, you can see General Motors gets almost straight A's on their valuations, whether it's price to earnings or forward PE or enterprise value to sales, trailing and forward or price to book, you name it, GM gets outstanding grades. Tesla, on the other hand, in terms of valuation gets basically F's across the board, whether it's price to earnings, EV to sales, price to book. If you look at just the screen, if you look at just valuation, you're going to say, well, it looks like General Motors is the way better buy than Tesla. However, valuation is not everything. So if you look at GM, GM is a dying company. So in the quarter, Mary Barra, who is the CEO of GM currently, and I don't know why, but in the quarter that she was appointed, which was the first Q1 of 2014, General Motors had 11.13% market share globally. And today it has 4.47 market share. So that's a 40% decline since she was appointed as a CEO. And if you look at, for example, their sales in China, if you look at a year over year comparison, you can see China vehicle market is probably the most cutthroat on earth. And the companies that can make it anywhere basically. And so it's good to, we're engaging the competitiveness of companies to look at how they're doing in China. If you look at General Motors, you can see that in the first six months of 2024, their sales were down in China, 17% versus the six months of 2023. So we're talking about just one year and a shrinkage of close to a fifth. So unless the government steps in and decides to artificially inject this company and other companies like it with money to keep it on life support, this company will die. I think it's too late for it to turn the corner and then do something else. But yeah, honestly, I hope that they do. I would really feel sad if GM went bankrupt and died. It's a very storied company. A lot of people work there. So it'll be sad, but that does seem like an inevitability at this point. So even though the valuation of it is amazing, now, not only that, let's look at this automaker profitability heat map. So if we look at the battery powered electric vehicles specifically, so the pure EV plays, these are the ones that are highlighted in green. You can see that whether we're comparing to Tesla or Zeker or Xpeng or NIO or Rivian or VinFast or Lucid or Fisker, all of these companies have negative profitability with exception to Tesla. Now, if you look at, for example, BYD, you may say, oh, well, BYD is, you know, it's in the positive. It's not as positive in terms of profitability as Tesla is, but it's in the positive. It's above zero. It's at 4.6% in Q1 compared to 7.3% for Tesla. We're talking about net profits here. But BYD isn't a pure electric vehicle company. They actually produce hybrids as well. So if we're comparing apples to apples, Tesla is the only horse in the EV race that is profitable. Everyone else is in the red and they're in the red in a very deep way. By the way, apologies. I noticed how fuzzy this image is, but I'll read it for you. So if you look at Zeker, their profit margin is negative 14%. For Xpeng, it's negative 26%. For Polestar, NA, for negative 51%. For NIO, negative 52%. For Rivian, negative 120%. For Lucid, negative 394%. Basically, Lucid, if it wasn't for the Saudi government pumping money into it, it would be dead. So for people who ask me, hey, is NIO a good investment? Is Rivian a good investment? Is Lucid a good investment? Well, hey, look at their valuations compared to Tesla. They seem much cheaper. Well, valuation isn't everything. So you really have to understand a company in all of its important aspects and not just look at valuation and understanding the product itself. So not just quantitative aspects, qualitative. I have a checklist of items that I like to look at that we teach in our course, which is available for elite members. If you aren't an elite member yet, I encourage you to become one. But we go over my checklist and things to look at that will save people a lot of money. So Tesla is really the only horse in this race, in the EV maker race, that is able to produce electric vehicles profitably. And it gets worse if you're not Tesla. Because Tesla, it seems, has essentially solved the self-driving puzzle. Now, there are some improvements that need to be made. I have a Tesla myself. I use it self-driving all the time. But it's not perfect. There are some improvements that need to be made. However, if one assumes any rate of improvement, you can see Tesla getting to full self-driving within the next 12 to 24 months. And I don't see anyone else even near that. So you have a future wherein the cars are going to be electric and self-driving. And you have only one company that is able to produce electric vehicles profitably. And only one company that has been able to solve the self-driving puzzle. And that is Tesla. So do the math on that yourself. And then you can go back to the valuation and remember, perhaps, the wisdom that your mother told you or you've heard somewhere, which is that cheap is often very expensive. So stocks are no exception. Oftentimes, cheap are very expensive. And oftentimes, the expensive or the traditionally or on their own, in isolation, expensive company with multiples that may seem expensive to someone unfamiliar with the company often is the best value. So that was the investing lesson that I wanted to impart on you guys today. If you are not a member, become a premium PIF member so you can follow our trades, move for move. If you'd like access to our course, which we add to all the time, it's a live course that we try to add lessons to all the time, then become an elite member. So with that being said, let me go to questions. Was says, Salam brother, if one wants to invest in Bitcoin, would it be better to buy the Bitcoin ETF or microstrategy? I have deemed microstrategy to be uncomfortable because of its use of leverage. Bitcoin itself versus ETF, I think for the casual investor in ETF is just fine because you eliminate the hassle of self custody. This is how I think about it, not financial advice. Zuhair says, Salam all. Walaikum Salam Zuhair, nice to see you. Chocolate, nice to see you. Walaikum Salam Rashad, Amr. Sorry. Apologies for that. Rashad says, Salam Arkan. The media keeps saying that 6 trillion on the sideline waiting to be deployed. That doesn't sound like smart money, right? Well, I'll tell you, I think that there is. So there's an argument to always having some dry powder. And so I don't necessarily think this 6 trillion that's on the sideline is necessarily dumb money or it's necessarily smart money or that the people who are invested right now are either dumb or smart. I think that having the fact of the matter is the future is unknowable. And therefore, I think you should have a percentage of your always have some dry powder around in case an opportunity shows up, you're able to take advantage. So, you know, the the Arabic saying, the camel is for one lira and there is no one lira. So you don't want to be in that position where, you know, the camel is selling for one lira, but you don't have one lira. So always keep dry powder. Sheikh Adnan says, Assalamu alaikum, wa rahmatullah. Amran says, Assalamu alaikum, your opinion on China stock like Baba, PDD, Baidu, they seem to have high risk reward. I generally stay away from Chinese companies. They tend to have associations with Chinese Communist Party, which I'm not comfortable with. Dermath Mad, nice to see you again. Mashallah brother, always very informative. There was a time where you used to do these live almost on a daily basis, especially on highly volatile I wish you can get back to that rhythm. I do do them on a daily basis, except for the weekends. So last week we were live five times. So there was a time and that time can extend until now. These lives are very calming as well. Well, I'm glad to hear that. That's the point. And thank you for tuning in. Nice to see you again. Kashif says, Assalamu alaikum, wa rahmatullah. A lot of people talking about big reset in market. It's been a couple of years. We've been hearing. What is your opinion? Yeah. So more, more money is lost waiting for a reset than in the reset itself. I'm not saying that, you know, a reset is not coming. I'm saying it's very tough to know. And being on, you know, outside, I think being on the sidelines entirely is very risky. So as I mentioned before, I think, you know, having a percentage, I like to keep it, you know, not more than 10 to 20% in cash, dry powder that you can use in case, you know, something happens in the market and you want to take advantage. That's a good idea. But, you know, being out entirely for me, more than 20% seldom makes any sense. That is being on the sidelines with more than 20%. So that makes any sense. All right, guys, if you enjoyed this live, do leave a, like, I'd really appreciate that and enjoy the rest of your day until next time. Make sure to take care of yourself. Assalamualaikum and peace be upon you all.