4.8 • 1.7K Ratings
🗓️ 22 August 2022
⏱️ 6 minutes
🧾️ Download transcript
In today's video, Patrick Bet-David discusses how great investors time the market.
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0:00.0 | So the chart that you're looking at right now is called the fear, greed index. And here's all |
0:03.3 | it is. When we're extremely greedy, fear is very low. And when we're extremely afraid, |
0:09.8 | greed is very low. What does this really mean? So, for example, a year ago in a marketplace, |
0:15.3 | everybody was super greedy. They had money. They were making money in crypto in a stock market, |
0:20.0 | Tesla, Bitcoin, Ethereum, NFTs. Everybody was super, super greedy. So they were not afraid. |
0:27.6 | They were not worried about what the market's going to look like. They were walking around saying, |
0:30.4 | I got money in the back. I got half a million in crypto. I got a million dollars here. I got |
0:34.4 | two million dollars here. And they're very comfortable with where they are. So they're not open-minded. |
0:39.9 | They're not looking. They think they know it all. They got a million in one blind spots. And we've |
0:44.0 | all been there before. And then all of a sudden they get hit hard. And you notice greed gradually |
0:49.9 | comes down and fear gradually comes up. So if I were to ask you right now, let's play game. |
0:54.9 | If you look at this chart again, what do you think we are right now with the fear of greed index? |
1:00.9 | Do you think we're at level one, which is the highest, highest greed and the lowest level fear? |
1:05.9 | Do you think we're somewhere between greed, being high and greed being in the middle with fear |
1:11.0 | tied up? Do you think we're quarter way? Do you think we're halfway? Do you think we're already |
1:14.7 | super afraid or extremely afraid? What do you think we are? I'm willing to tell you we are right |
1:20.4 | now in between extremely greedy and somewhat level and go right in the middle between fear. |
1:25.8 | I think we're quarter ways there. Why am I saying this? Because people still have record |
1:31.1 | breaking savings in a bank. Yes, people lost three trillion dollars in retirement savings. Yes, |
1:36.0 | 80,000 crypto millionaires were wiped out and they're still worried about what happened with |
1:41.5 | their Bitcoin. They're waiting for it to come up a little bit. The theorem's been coming up a |
1:44.4 | little bit. Yes, that took place, but people are still a little bit greedy. Fear hasn't sunk |
... |
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