Cryptos Crashing? Marijuana Stocks Recovering? Now What? with Rich TV Live cryptocurrencies cryptocurrency bitcoin pot cannabis hemp weed david moadel
welcome to looking at the markets I'm with rich and welcome to rich TV live
because I'd love to have this on both channels if you want to
we got rich here in all this turmoil in all this confusion in all this craziness
what the heck is going on I need Rich's perspective today rich how
you doing sir first of all oh man I'm doing great uh yesterday was the Super
Bowl yep and I loved it it was an amazing game I thought it was a game for
the ages yeah so from that perspective I was I
just I just I don't know I just enjoyed the Super Bowl and you know the markets
of the markets Dave you know I'll be honest with you I've been in the market
since I was 21 okay and I'm 40 now so one thing I've learned about the markets
is that they go up and then they go down and I have never really allowed the
markets to dictate my attitude right and I've seen a lot of people panicking I've
seen a lot of people saying I should have sold higher what people have to do
when they trade is they have to learn from that they have to remember these
feelings because I know what it feels like when all of my kryptos are going
down yeah and then what I try to tell people is when you are in the crypto
game or you're in the marijuana Star Game and last week was probably one of
the worst weeks I can remember yeah in the marijuana stock industry and crypto
industry both at the same time yeah so a lot of people got hurt including myself
and the reality is anybody who was holding crypto or marijuana stocks got
hurt yeah because the whole industry took a haircut like as far as the
marijuana stocks the whole industry took a 30 to 50 percent haircut yeah yeah
it's crazy it's crazy the industry always we're not talking one stock here
or two stocks we're talking an entire sector going down 30 40 percent
something like that some stocks went down 50% or more and I don't
know about you rich I'm sure you well I've seen your whatsapp group some
people are concerned to put it politely some people are okay they're freaking
out some people I think I I think anybody who is losing money in the
markets is going to be hurt and the one thing I have to remind people is the
more money you have in the markets the more you're getting hurt yeah yeah so
even the biggest guys right now if they're holding yeah they're getting
hurt right and I'm talking about the
billionaires because when you have companies like Bitcoin that have gone
down from 20,000 to now 6,000 I mean it's ridiculous so it's a meteoric fall
you can see it right so it's a meteoric fault and it's a fall that was predicted
by a lot of people yeah and anybody that was a good trader made money you know
I'll be quite honest I sold all my Bitcoin at 17,500 you know I did I make
mistakes yeah I made a lot of mistakes I saw my big coin like Quinn etherion
pretty much at the top cuz I figured it was a 52-week high I
also sold on my marijuana stocks at the top yeah cuz I thought it was a 52-week
high I mean that's the way I trade I don't get emotional right the biggest
mistake I made is that re-entered too soon and then when I had the opportunity
to sell my ripple I didn't and I remember telling everyone in my group
when ripple was at $2 I made a mistake and everyone's like what do you mean
like you how could you make a mistake I'm like well I made a mistake
I showed us all the 330 right now ripple is that like ridiculous like 60 cents
right yeah rip was at 66 cents like you see the SIA red here it's mind-boggling
yeah all right take a look at the security let me say you see that that's
that's 20 percent gains across the 20 percent losses across the board and this
has been like this for now for weeks yeah essentially since the beginning of
2018 this is crazy I love that III don't see wow it's it's all not just red but
deep red 20% I see 26 28 % there people are getting
hurt oh yeah ripple in the 6065 sixty-seven
cent range I ever thought I would see that again once it went out bill I know
it's going back to 20 cents you heard it here first it's gonna go back to 20
cents because charge don't lie but people do it charts have a tendency to
go up to 52 week highs and down to 52 he glows yeah and eventually they'll find
the floor and they'll they'll do a dead cat bounce yeah yeah and you've seen
that today in the marijuana stocks you see the marijuana stocks all bounced
back nicely today take a look at pop ventures up 18.9% beautiful take look at
cannabis wheaton it's up at one point percent and not huge I mean look at
aurora cannabis up seven point six straight up at seven dollars and sixty
five cents yeah percent I mean these are some of my favorites right a fire up is
a six point three percent they are altering a dead cat bounce because last
week they just not annihilated right can it be growth corp of 4.7% Organa gram of
4.4% these are some of the biggest and the best opportunities in the industry
vibrators is leading the way today of 18 percent so I love the marijuana stocks
because it's an industry that actually has something that backs the company it
has medical marijuana or CBDs or nutraceuticals it has real product which
you can vac whereas in the crypto game is one thing I've been saying since the
beginning how can you actually say that in the crypto game how can you say that
you have a hundred billion dollar market cap when you have no equity to back it
when you're a public vehicle when you're a public company on the NASDAQ you're on
the New York Stock Exchange you're on that you know the sp500 you're on all
these major exchanges you're on the Toronto Stock Exchange you have to have
equity to back your financials you can't just say oh I have a 100 million dollar
market cap but it's all in research and development it's all in R&D and some
companies do it but I mean eventually you know you need to have some revenue
you you can't just have debt dead instruments and have no equity to back
it right now I'm not suggesting these cryptocurrencies have debt I'm not I
don't know nobody knows how they're run cuz they're not public right so nobody
knows how they're being run nobody knows where the money's going the owner of
ripple has a hundred billion coins so you know even at a dollar it's a hundred
billion dollars so and he has the right to sell it as much as he wants
essentially right sure so I mean he has it locked up and he can say I think
there's some type of lika provision but even that LICO provision if it's 1% a
month that's a huge amount that's a billion a month yeah Wow so there's no
but regulating these people yeah you have to understand that like there's
nobody regulating those markets like these markets in the marijuana industry
they're being regulated so that's why I've been telling people that the
marijuana stocks are my safe haven right right but it doesn't mean that they're
not gonna go down of course and I've always said you know what do we tell
people did I am NOT a licensed adviser I'm telling me what I'm right I'm
telling you what I'm doing and sometimes I'm winning and sometimes I'm losing but
usually I'm holding and I'm just gonna hold and I don't be honest with you if
ripple goes back to 20 cents I'm gonna buy a lot okay okay it's for me I'm in
no rush to buy more at these prices because I feel like it's free-falling
right so let it free fall I let it go to a penny I really don't care um you know
for me I care for everyone else but for me as a traitor I want to get it as
cheap as possible because I'm thinking 20 years from now right the banks are
still going to be using Ripple okay and that's the Warren Buffett strategy yes
we'll just company be in business in 20 years he's not worried about January
2018 right or February 2018 he's not really concerned about that that's not
what made him the best investor of our generation of ever essentially in the
stock market right right very so very true I'm glad
you're not catching a falling knife when it comes to the cryptocurrency space
you're not catching the falling and I recommend that ya I'm not a
licensed or registered investment advisor rich is not a right register or
license of investment advisor you need to make your own decisions okay this is
not investment advice in this video but I will say this this this is what works
for me I don't catch falling knives if something is going down fast day after
day we said we saw Rich's screen there - 20 % - 26 % - 28 percent in a day okay
yeah look at that it's been like this every day for the last I don't know how
long now right crypto world is so crazy yeah and this is not necessarily my
opinion only this is not necessarily the time to get in you want to wait till
investors calm down and show some confidence and in this particular market
okay what I like to do it my father taught me this you know I used to want
to get in because I heard a Warren Buffett said buy when there's blood on
the streets okay but that doesn't mean you buy at the
worst part okay all right you buy this is what my father taught me and he's
been in this trading and investing game for a long time when something's falling
falling falling fast you wait until it's done falling okay and then you wait till
starts to go sideways that means the market is calming down a little bit and
then it starts to hook up words a little bit that's even better you get that
little fishhook okay down down down sideways little fishhook upwards that
means that the bleeding has at least slowed down maybe even stopped no
guarantees of course it can go down more but I'm gonna wait until the bleeding at
least slows down okay and if you're already holding that I've been getting a
lot of emails rich I know you've been getting a lot of messages in your
whatsapp group everybody needs to check out Rich's whatsapp group just go to
whatsapp also check out rich TV live.com there's lots of free reese's resources
on there don't miss that check out his Facebook group while
you're at it rich TV live on Facebook what you want to do is get okay if
you're already holding first of all I hope that you didn't over invest rich
and I have been telling you not to over invest in anything this has been
consistent with us so if you put too much into it I'm sorry
this is happening but there's not much we can do for you at this point yeah as
far as if you didn't put too much in you put some in you put a little bit in the
question is do you buy more again I say wait until the bleeding at least slows
down rich what do you think I agree I I don't think there's any reason to buy
some I haven't bought any Kryptos and I haven't bought any marijuana stocks
since they started dropping because my attitude is I already have them yeah so
why buy more right and then secondly if I'm going to buy them I want to make
sure I buy them at the bottom so what's the rush I'm gonna rush it I already
rushed it right you know I sold almost a hundred thousand dollars of marijuana
stocks and then I put 60 back in now is the houses money
it went from 60 down to 41 in a matter of a week why it was disturbing yeah but
I also know hey man I've seen this before I mean how many times I wasn't so
just hold it out and then today the marijuana stocks are all back up
yeah but the cripples are not you know so this is why I say like you gotta find
a safe haven like everybody has their safe haven I like the marijuana stocks
okay that's I gained you know like you look at Aurora cannabis the way it's
trading like this like it's nuts look at it it's crazy it's madness 7.1 million
shares up 7 percent at 7 dollars and 36 cents but look at the level 2 on this
it's just like a Christmas tree lady right and that's showing volatility
that's showing interest that's showing investors buying and selling the
security so there's people interested in this now in the crypto game when you see
day after day after day of just this pummeling as a trader I'm thinking
shorting hmm I would be honest with you now I'm not a trader that likes to short
yeah but that's what I'm thinking so if I'm thinking short it's short the market
because everybody's doing that right that's the trader that's what's happened
let's be honest people are shorting this market sure whether they're selling
panic selling short trading it right whatever they're selling the crazy panic
and it's creating this market this devastating market right yeah
just the top 10 it's everything right so everything is down probably there's a
handful that's not down so all your talk poins are down so yeah it's the time to
buy it's time to buy I'm not gonna tell anybody buy cuz I'm not buying okay so
why would I tell anybody to buy right right yeah no I appreciate well first of
all your strategy is very interesting because most people don't think of
marijuana stocks as a safe haven most people think of the marijuana stocks as
speculative as risky I'm gonna put that in quotes angers risky okay but you know
what all you have to do is look at the S&P 500 right now the S&P 500 is selling
off massively so if you think that blue chip stocks are safe take a look at
today's price action s SP 500 down over three percent this is huge this hasn't
happened in what a couple years I think I don't remember the last time this
happened correction I mean we talked about it they were up 20% last year they
had their best year ever yeah the market has to have a correction
yeah it has to go down for it to go up it's the game okay the shorter short it
down they take it down all the way down and then the Shorter's are covering it
so the reason why these stocks have gone up today is the Shorter's have covered
they have fought and scared they thought about it they're like okay we've taken
this down a lot last week yeah let's cover our shorts now right just in case
and you'll see everything is bouncing back up after a devastating really
really bad week last week roughly and now they're starting to kind of go back
in the red a little bit here you can see everything is starting to retract again
here so these markets are very risky so when I say it's a safe haven there is no
safe haven in investing okay right when you're investing in the stock market and
you're investing in kryptos there is no safe haven this is all extremely
speculative it's all very risky that's why I always say that rich TV Live is
strictly for education and entertainment purposes we just want to educate you and
teach you and show you what's out there I'm not telling you and I'm not
suggesting you should buy any of these things I will tell you what I'm buying
right I'll tell you prices I bought I'll tell you what prices I sold at right now
I'm just accumulating you know the 2018 just started and my strategy
for investing is accumulate my favorite stocks and cryptocurrencies okay I don't
focus on the price when they go down I buy more and that's my strategy it's
always been my strategy I just the way I trade and it's called dollar cost
averaging lowering your cost average it's something we've talked about on our
show and I'll just continue to do it to the day I die that's how I trade that's
the way I'll always trade and I don't put all my eggs in one basket right when
I trade I don't take my mortgage money and I trade with it I trade with the
like right now I'm trading with the houses money right if both the crypto
and the marijuana stocks so the way I trade is I hold I buy what I like at a
little price I watch it I buy it I hold it and then when I get enough profit 30
40 % or sometimes hopefully more sometimes a thousand percent yeah but at
least 30 40 % I'm trying to get sometimes I'll even take 10% it depends
on how much I'm playing with you know but I don't really take less than 10%
I'll be quite honest with you okay I'd rather hold and if I really believe in
the company I'll hold and then as it goes down I'll watch it I'll watch it
I'll watch it I'll stock it I'll watch it a lot you don't watch it every day
just like this watch it alright I'm watching everything in the
crypto game I'm watching Bitcoin every day go up and down and like it's hard to
believe that bitcoins at 6,800 like for me to believe that this is at 6800 now
it's hard to swallow yeah but then I also remember it was at 5000 in November
not that long okay I mean like November wasn't that long ago yeah you know
weirder so it's a quarter away so that's how
volatile crypto is hmm it's and that's how I'll Bitcoin is yeah and the
marijuana stocks are also very volatile so you have to know what you're getting
involved with right when you get into this game it's very there's very high
very big highs and very big lows but if you are able to withstand those lows and
buy it those opportunities then when the big highs come you also have to remember
those days when you feel like you got kicked in the in the guts yeah you feel
it in your guts and you're like oh and it was like last
week that was for me you know right and and today you know the marijuana stocks
at least are doing a lot better crypto Millia is doing terrible but at least
the marijuana stocks are doing a lot better and there are some examples of
stocks that are doing good today oh yeah but you know what they're starting to go
back down right now so that's the markets day you know with seamless so if
you've grown up in the markets like us right unfortunately you've seen too many
of these days yeah it's it's we've been there done that that's why people look
to rich TV live again go to rich TV live.com if you haven't gone already
also check out his YouTube channel you know links in the description below
this video for goodness sake subscribe subscribe rich do it do it do it get the
updates so what are you saying well first I'll tell you what I'm saying
because I'm sure people have emailed you a lot saying oh my god what do I do
I've gotten a lot of those emails every day for the last week two weeks what do
I do I'm way down I tell them well first of
all if you're feeling emotional then you put too much into it but that's you know
that doesn't make them feel any better so to help them feel a little better I
tell them look if you have a long-term outlook okay if you are willing to hang
in there then just do it just hang in there and don't look so much okay maybe
step away from the computer or the phone for a little while that's what I've been
telling people to kind of as swage their fears a little bit rich I'm just curious
what have you been telling people who because I know you've been getting
emails and and text messages all the time oh my god I'm way down what do i do
what do you tell those people I just I just tell them listen man don't panic
this is the markets the markets go up and down and you've got to learn not to
panic and if you believe that that stock or that crypto or that investment will
disappear you should sell okay okay if you believe that that company has a
future which is the only thing I try to invest in these companies that I believe
have a future not to say that you know I don't make mistakes I do but I'll hold
on to something usually like especially a stock or cryptocurrency I like to hold
for at least for me like I will sell it if it goes up really quickly but if it
I don't mind holding for a year okay okay right that's kind of the way I look
at it I don't mind holding for a year I look at it more like this is an asset
that I'm accumulating right this is an asset in an industry that is growing
yeah it's going to have ups and downs it's going to have changes there's going
to be more regulation especially in crypto yeah even in marijuana stocks as
well there's going to be more regulation especially in Canada and in America so
and throughout the rest of the world so as this regulation is happening and
licensing is happening more and more things are gonna happen and stocks are
gonna go up and down with solo crypto currencies you have to learn not to get
emotional and really you got to learn when it's up you got to learn to sell
because there's a lot of people that are like oh I should have sold when I was
way up I was up 60 grand a hundred grand a million dollars I've heard people been
up and they didn't sell Dave right and what I want people to learn from that is
when you're up you need to sell yeah yeah all right and I think a lot of
people I did so you know and I did well yeah I reinvested again with the houses
money and I'm down on both my crypto and my marijuana stocks right now I'm not
gonna lie to you to start a 2018 but I also was down to start 2017 and in the
end of 2017 I was up so yeah I remember this it's happened before
right it's not to say the 2018 will finish like 2017 well that that's not
guaranteed for sure sure but I also know that as a trader I can also buy more I
can buy more at a lower price and especially coins like ripple that I
really believe in the biggest mistake I made with ripple is I didn't sell it 330
the next time ripple goes to 330 I will have a lot more coins because my goal
was to get 10,000 I've got nine thousand right now so now I can buy another
thousand really easily yeah so for me to get ten thousand which was my goal this
is like perfect so technically all the coins I like I'm
just gonna be able to buy them now for cheaper yeah yeah
so I was never planning on buying them with the money I was gonna make selling
those coins right right that was never my plan in the first
place I was just accumulating coins and accumulating marijuana stocks that I
liked and I believe in in 2018 okay now do I like the fact that they've gone
down no I think it's terrible do I think it's terrible that people have lost
money I do can I control the markets no unfortunately I cannot if I quit I would
have said let's all have 52-week highs and everything
let's make millions and billions of dollars and let's live comfortably yeah
but unfortunately I don't control the markets and you don't either so all we
can do is try to educate people and show them what is happening what is out there
and there will be opportunities and eventually Bitcoin will hit a bottom so
you're seeing right now Bitcoin has went to 6,600 and right now it's pushing to
go up to 7,000 yeah so it's good to see that you know it's going up but I mean
like when is the bottom gonna hit you don't know yet and I think it's very
risky especially crypto to play that game yeah I would rather play that and
play that game with the marijuana stocks right now okay okay that's my opinion
sure and that's what I'm doing but to be quite honest with you I'm not actually
gonna sell anything or buy anything for the next month or so I'm just gonna
watch the markets and focus on other things because I think that what you
focus on expands and if you can't focus on the market and you can't control it
then trying to focus on it will really only stress you out
true-true don't bullshit it only make you feel unhappy and I've been there I'm
isn't it I'm in there you know yeah you know I ripple at one point was worth 30
grand and now it's worth probably five grand so as a trader I know I made a bad
trade and I and I even told my community I made a bad trade I admitted to it that
I should have sold it at 3:30 right and I think as a trader you've got to learn
to be honest with yourself yeah and when you make bad decisions and you don't
sell at the top you you should learn from that and don't get
angry at yourself but just learn from it so the next time ripple goes to 3:30 and
I believe it will again and I believe it will again in 2018
and I believe it will go higher at some point I don't know if it'll stay there
because if you look at kryptos it's not it's a moving target yeah oh yeah oh
yeah so ripple so ripple you think it's gonna
possibly go down to 20 cents yes and up to three of more than three dollars per
coin per token this year in in this year that's amazing that's my beloved aiming
point we'll also resurrect Bitcoin will do better and I believe that this is
just a cycle okay and I believe that things need to go down so that all the
rich people can make money yeah yeah okay I mean that's just the game right
so if you are at a market that's not regulated and you have the ability to
take everything down and give everybody the chance to get in cheap right and all
the new people that are getting into Kryptos they've never bought any crypto
scan now get in cheap again a Bitcoin yeah yeah guess what
you know Bitcoin just hit 7,000 it was just that 6600 right so you know ripples
is 69 cents it was just that 64 okay okay I mean the markets will turn around
at some point Dave let's be honest yeah now do I want it to go to 20 cents I
think selfishly I wanted to go cheap so I can buy some do I really wanted to go
down to 20 cents hell no I'm not insane but I mean selfishly I'd like to buy
some cheap that's the only reason why I wanted to go down but you know am i
praying that it goes down hell no man I'm not insane so it the other day it's
just like it's one of those things where you just learned when you're in the
markets that that's the markets right right you know coach like being in a
boxing match insane man I don't want to get hit well you're in a boxing match
you're probably gonna hit you know it's gonna happen yeah there's a market yeah
you don't want it to go down yeah nobody does but it's the markets it's gonna go
down right right gonna go up in his get go down if ya know then there's no
safety I mean II and bonds with bond yields rising people
who already own bonds or have owned bonds they're not even doing that well
they're suffering I mean even bonds are not safe anymore
the stocks blue-chip stocks aren't even safe right now the the S&P 500 is down
two and a half percent as we speak this is massive and it was down 2% on Friday
so we're in the middle of a market correction so even though safe quote
unquote safe stocks McDonald's Disney Exxon Mobil whatever coca-cola even
those aren't safe right now so if you're in the markets you've got to understand
there's gonna be volatility and sometimes you're gonna lose the idea is
to win more than you lose and then you come out ahead over time if you're in
the cryptocurrencies space awesome I want you to be part of this if you want
to and if you can afford it that's the important thing
don't put money into cryptocurrencies marijuana stocks or any investment that
you cannot afford to lose that's hugely important right now a lot of people are
suffering a lot of people are in pain right now but hey look at that back up
to 7,000 during this program it's going up okay things are getting better if you
sold at the worst possible time you're already starting to regret it a little
bit probably it's already it look at Rich's screen it's already going up so I
mean there's a bottom to everything deal in the markets there is gravity in the
markets I always say there is gravity in the markets and the markets do go up and
down so yeah you've got to remember when it's down that's the time to buy and
then when it's up that's time to sell yeah when it's up it's not the time to
hold right and that's the thing that I really want to teach people is educate
people is let's say you buy something it goes up and you sell it and you make
money isn't that the reason why you invest it yeah people have this thing
it's like they they're afraid to sell you know and and I'm like why and they
get emotional they get attached to these stocks and I'm like listen do you think
that these stocks care about you if they go down like the way they did last week
do you think any one of these stocks is gonna give you more shares do you think
any of these companies are gonna send you some shares for your losses
away so when you're up you got to play the game like the bankers are playing
the game you got to understand the game is being played yeah and the people that
are playing the game the bankers that are playing the game the institutions
that are playing the game that are buying those stocks and those
cryptocurrencies the the whales the high-net-worth investors that are buying
Bitcoin ripple aetherium you know and all the top marijuana stocks or
technology stocks like Amazon Facebook Twitter Lincoln it all these huge
companies Google you know what if you're one of those people buying those things
you know you know that there's gonna be absent flows in the markets and there's
gonna be ups and downs you got to learn how to get out when you're up yeah
that's a big part of the game and it's also learning how to watch them and
stalk them and get in when they're down right and that's something that you know
I'm gonna talk about all the time and when they're down is right now yeah and
learning how to watch these opportunities and find those
opportunities in those windows yeah and then when you see that they go down
that's people that are just taking their profits essentially you know sometimes
if you're a banker and you're playing with millions of dollars that's 5% in a
day that's enormous yeah oh yeah oh yeah people are going to take profits Bitcoin
just went up $200 in the last couple of minutes while you were saying that so
for the people who sold it the worst possible time there it's still going up
look at that for the people who sold at the worst possible time man I hope
you're learning a lesson here when you sell in the red man you're not following
Rich's advisement not that this is investment advice it's not but you're
not follow you're not doing what rich does which is buying the red and then
selling the green look at Bitcoin going up 70 to 50 it just went up 250 bucks in
the last few minutes as quickly as it's coming down Dave it can go up so you
nobody should be kidding themselves and thinking that bitcoin is going anywhere
right now as much as Bitcoin has its flaws and I think that there's going to
be a day that Bitcoin cash will surpass Bitcoin and that's something I'm
concerned about with Bitcoin and I don't know how they're gonna deal with that
yeah so personally I would be more interested in buying Bitcoin cash and
that's kind of my strategy but bitcoin is still the name that everybody
on a global scale has heard after first and foremost before Bitcoin cash so
that's why it's difficult for me to try to figure out what is going to happen in
the future right so that's why for me personally the one that I have the most
of is Ripple okay I have ripple I have stellar lumens I
have a Bitcoin you know III have Cardona I have red coin so I've accumulated a
few coins and I'm just gonna keep buying the coins that I own that I like that I
enjoy their technology like I said I'm not putting my mortgage money into these
things I'm you know I'm playing with essentially the money I made from
investing in both Kryptos and marijuana stocks last year so yeah am i down yeah
do I like it no but I also know that I'm gonna accumulate more and when it's down
that's my opportunity to accumulate more but I'm also no rush to accumulate more
right right not I'm not I'm just kind of watching and I look at it like we're in
a fair season right now so why should I be buying anything let's just see how
low it's gonna go gotcha I mean yeah it's going up right now but to me does
that mean we've hit the bottom no right no you know so that's the thing like I
want people to understand that like it and understand like oh it's you can't oh
it's going up 500 points since rich has been live you know yeah it's going back
up to ten thousand well that could just be another setup and then it just goes
right back down again so you've got understand the game that's being played
and the manipulation what's happening in these markets yeah god okay and and I
believe that there's a lot of manipulation that's happening these
markets because they're unregulated markets gotcha all right and just to
wrap it up because I know you're a busy man and you got places to go things to
do but rich TV live I know you want your website to be a hub of information and
resources for people I want I'm gonna send people over there for my channel
for sure rich TV live.com and subscribe to rich and rich TV and rich TV live as
well what what's the latest I mean what what's rich TV live.com
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quickly when you're typing up marijuana stocks crypto currencies you'll see that
we're printing it we're starting to show up higher on the rankings on Alexa so
because we have had a really huge month in January Alexa is not updated I don't
believe it's right away probably be a couple months so you'll see the rankings
are really growing we're also becoming one of the largest
hubs for I see or reviews yeah yeah I know you've been doing some I see
reviews as well so we are becoming a very trusted resource for ico reviews
and remember guys if you're buying like I SEOs and our I see your reviews don't
please like don't expect that those reviews are going to be like a hundred
percent and and don't buy them just because I'm talking about them on my
show please like that is strictly for education and entertainment purposes the
only reason why I even do that to be honest with you is because I want to
educate the public about what's out there sure but I want people understand
that I'm not buying those I SEOs you know I don't want anyone to get the
wrong idea that I am buying anything right now in crypto because the reality
is I'm Knox now that doesn't mean going to and I'm not set up to I am set
up to and I am going to right now I've chosen not to because I feel like when
you're on the Titanic and you're sinking you know what are you gonna do you're
gonna sink with the ship or are you going to you know jump off you know I'm
gonna jump off I want to save myself and my people let's jump off for a bit you
know let's get on some lifeboats and when it does come back to life and
there's like you know a plan of action and there's a safety net somewhere then
I would feel more comfortable jumping back on that ship but if there's like a
huge hole and there's water and it's sinking I think we need to save
ourselves don't we Dave like what are we gonna do like are we like when I say
save ourselves like I'm not selling no I'm oddly I'm holding on for dear life
okay that's the way I treat I'm always treated that way and I trained that way
for almost 20 years so right that's what's worked for me but if you need to
sell and you need to sell and if you're up you should definitely sell or any of
you need to sell and you're down and you really need to sell then you should
probably sell okay that's my advice to you but if you can hold it and you can
accumulate more at a lower price think about it this way let's just say you
bought ripple at $3 near the top and right now it's at 73 cents it's
interesting how it's just exploded up since we've been talking yeah so let's
just say you you bought Ripple and now it's at 73 cents my attitude is well if
I wait six months it might go back to five bucks mm-hmm good so why don't I
buy somewhere at 73 cents and if my average cost is three dollars and I buy
some at 73 cents let's say I spent a thousand dollars and my average cost was
three dollars now if I put another thousand in at 73 cents it's gonna
reduce my average cost dramatically so average cost will now no longer be $3 my
average cost will be like round maybe about dollar 30 maybe yeah so you've
just reduced your average cost by 50% yeah
and now do you believe there's a chance that ripple could go to 150 that's more
likely than three dollars so that's how I trade so I don't put all in my eggs in
one basket into that one specific trait gotcha so I have other investments and
tools that I can use to get out of a bad trade right so that's kind of how I
trade I treat so when I trade I buy something to get it on my radar that's
kind of how I trade so I'm gonna radar now I hold it but I don't really look at
it like I'm afraid of the price I look at it like I will buy more at a lower
price right so if it goes down this is my chance to accumulate so I've been
accumulating Ripple all the way down okay right and the lawyer gets the more
I'm gonna buy it yep yeah because this is the one I like
the most why because it's working with the banks right I said it's just the
beginning so if you work with the banks and the
banks love you you're working with American Express you're working with
Royal Bank of Canada you're working with potentially visa and I'm hearing all the
kinds of rumblings of Western Union huge conglomerates global conglomerates they
see a future with ripple so I see that future with ripple so for me I'm gonna
continue to buy ripple my average cost is around 30 cents so I'm still up
sure but I'm not even considering selling okay
I'm not littering selling it doesn't even go through my mind hmm
like I'll be honest it has never crossed my mind and I've had people tell me rich
you should sell it you know rich it's gonna go to nothing it's gonna go to 20
cents and I say you know what you might be right but I believe in ripple and I
believe in my intuition and my intuition is saying that this bad boy here this is
gonna explode at some point and when it does I want to have as much of it as
possible so that's just the way I trade and even
with the marijuana stocks I feel that way about all of them that I've been
buying okay so it's like I got like a brother
or sister and I love my family and I look at these stocks like they're my
family you know I love the stocks
they pay my bills you know look hey if they have a bad date
you know if I invest in fantasy basketball and I'm investing in LeBron
James or I invest in a marijuana stock where I invest in triple and just
because ripple has a bad day or my basketball player has a bad day do I
just drop them if LeBron James in the Cleveland Bradley Cavaliers have been
losing a lot and that's why I'm wearing this jacket cuz
LeBron's been our losing streak right LeBron has been on a crazy losing streak
and he's lost eight games in a row on national television and he said he came
out and said we shouldn't even be on national television yeah so you know I
don't think he should have said that you know you've earned the right to be on
national television why would you say that so that is not a
good leadership quality for me personally to see that and I love LeBron
he's one of the best players ever you would have never heard Michael Jordan
say that hmm and you never heard Michael Jordan say that so if I'm his fantasy
owner you know I might want to get rid of LeBron because I might be thinking
you know he's got a bad attitude so if I might like to hold her a stock it's the
same thing like if I got a stock and they got bad news like they're getting
sued or something Bad's happening to that then I might consider getting rid
of that family member right right that's the way I look at it but for most for
the most part I would never turn on my family and the way I look at it is with
these stocks they're like my family like I love them so with these kryptos ripple
I love ripple like I have fallen in love with Ripple
so it doesn't matter what ripple does to me I'm not gonna turn on ripple gotcha
that's what try to explain to you like I look at these like that it's like my
best friend you know yeah you know maybe I'm crazy for that's how I treat right
yeah oh and I watch the Mike I read their news I follow them you know almost
religiously and that's how I treat and when you fall in love with a stock like
I fell in love with Facebook yeah I felt loved with Amazon right you know I love
the stocks and they've done extremely well for me and all right they're part
my like long-term portfolio so there's certain things I've done that it
just long-term to work really well for me so that strategy and that long-term
strategy that I that I've had for my whole life has really worked for me
long-term so that's why I don't concern myself with like a seven-day period or a
two-week period of trading or a two-month period of training right I
think that's very small way to look at the market yeah because if you really
look at Bitcoin it's still up 7700 and 26 percent since last year right Austria
was at $1,000 at this time yeah now it's at 7200 it was at 5,000 in November I go
back to my videos I can't even believe it yeah yeah it was at 5,000 in November
and then it shot up to 20,000 so what's to stop it from shooting up to 20,000
again d good point you know what you're you're making me feel better I didn't
even need consolation and yet you're making me feel better with that
perspective with the long-term outlook you're looking at the fundamentals not
just of companies but of currencies and crypto currencies as well you're looking
beneath the hood you're saying you know what this car okay you know what
it's it we all all cars have a little bit of car trouble all right but that
doesn't mean it's a bad car you can still keep these like and or just like
well you know you use the sports analogy alright you don't just give up on your
favorite team your favorite players because they have a couple losses in a
row that's right so hey this has been rich TV and looking
at the markets with David Modell we're back up to 7,200 already on Bitcoin who
knows where it's going man if you're feeling panicky I understand
but rich has the right attitude stay in the game whatever your plan is stay in
the game think long term and calm down it's gonna be alright Thank You Richford
I'm gonna get this to my audience for sure I've been recording it can't wait
to post it because people been asking me what the heck do I do I think you
answered it as well as anybody possibly could just just with your tone and your
calm demeanor I think it really helps so rich TV live.com is the play
to be it's becoming the the portal for all your icos
all your Kryptos all your marijuana stocks and everything else that you want
invest oh and don't forget we just did an interview with Shannon breaks - time
for a boxing champion yep rich TV live is becoming B place for
entertainment and collaboration obviously you are the first youtuber to
collaborate with rich TV live and I thank you so much David for that we will
continue to collaborate my friends right with your on ongoing success with your
channel with your community and with everything that you're doing and I
really I just love working with you and working with Shannon Briggs was a dream
come true yeah interviewing a boxer being someone
who dreamed of being a sports broadcaster and and went to school for
it and and always thought that maybe one day that could be something I could do
and then to actually interview Shannon Briggs yep I'll be honest with you it
was a dream come true day and I'm tell you guys right now I wish it I will be
interviewing Shannon Briggs and other celebrities very soon however and I
don't want I don't want you to tell anyone where I'm going date but I am
going to be taking a trip tomorrow so I will be broadcasting from a tropical
paradise mmm so much I'm so not concerned that I'm
gonna be live-streaming from paradise so yeah I'm not I'm not even remotely
concerned about kryptos or marijuana stocks in fact I'm very excited about
all the investments I've made and I'm excited about accumulating more I'm just
not in a rush to buy more now right cuz I want to kind of see what happens I
kind of just gonna get my popcorn ready Dave there you go I got my popcorn ready
I love sitting back getting the popcorn ready and watching the show wherever it
takes you wherever that rollercoaster ride takes ya this has been rich TV live
and looking at the markets we're gonna put this out today or at least I am
because I want to get you to all the people who are worried no worries don't
worry be happy which could be wise all right party people have a great day
everybody we'll see you soon thank you Dave
thank you for watching please like comment and subscribe and I'll see you
next time
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