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Hello, how are you? Welcome to the "Living Off Income" channel. Subscribe to the channel, leave your like, share with your friends, and follow us on Instagram too: @ viverrenda.com. Our new channel here on YouTube is "Café com Ações" (Coffee with Stocks). My name is Salgueiro, of course. I have a degree in Business Administration, I'm a consultant in the business area, and I've been active in the stock market since 2006.
I created "Living Off Income" not to do stock analysis and recommendations—there are already qualified professionals doing that in the financial market. Here, I try to tell you something new: my story, my experiences, what worked and what didn't. I think my experience can be useful to you so that you don't repeat the mistakes I've made, so that you understand and reach the conclusions I've reached over the years.
So, in some way, I'm helping you in your maturation process. That's our purpose. If this is useful to you, if this makes sense, follow us and help the channel grow. Let's create a chain of good and leave your like. Help by recommending the channel to more and more people because that way we benefit others.
And I also believe in your idea; we need to help people change their lives, transform their lives, find... Solutions to problems, that's our spirit here. So let's start together. The video will highlight some topics and begin by saying the following: when we buy companies, it's not a combination of letters and numbers; we're buying shares, not a combination of letters and numbers.
We're buying companies; we're becoming partners in a company. I'm becoming a partner in Itaú, a partner in AMBEV, a partner in Petro Rio, a partner in Magazine Luiza. And what happens when I become a partner in a company? I need to know this company. I can't become a partner in a company I don't know.
Ignorance pressures, you understand? Ignorance pressures; knowledge liberates. So, to buy a part of a company, to become a partner, I need to know it intimately. I need to understand its market, its business, its degree of dependence on the domestic market, whether it's more independent of the Brazilian real, more dependent on the dollar, whether it's indebted, whether it has cash, and because cash will allow it to make new acquisitions.
What is its business strategy? How does it relate to its audience? Does the audience like its brand, its company? Management: How does this management work? Who are the leaders of this company? I need to understand all of this so I can make my decisions. My decisions need to be based on knowledge. Again, knowledge liberates; ignorance imprisons us.
Study companies, understand the corporate world. Read everything you can about great entrepreneurs and investors. Get to know the mindset of Fred Trajano from Magazine Luiza, Luiza Helena Trajano from Magazine Luiza, Abílio Diniz, Jorge Gerdau, Jorge Paulo Lemann. The commitment and mentality of these people, and start to orient yourself by this mindset.
These new ideas need to be part of your conceptions. If you don't understand this, you won't be able to be a successful investor, and I want you to be successful. But for that, you need to think like great entrepreneurs and investors. This is essential for you to perform well in the stock market. Develop your skills in financial education and investments.
This is essential for your success. We are making this video, and take the opportunity to comment on some questions you have raised here over the last few days. Paulo Gustavo put it this way: we have to enjoy life according to our possibilities. In my case, mine... My salary pays for my meals and some of the things I want to do, but the stock market has already given me some pleasures.
We can perform, we can renovate our house with the finishes we wanted, discovering that life can be good after installing, for example, air conditioning in the bedrooms. I also use this money to pay for my little luxuries, like buying beers I like, eating out, paying for VIP parking at the crowded mall, and all this without taking from my salary and without excessively depleting my investments.
It's very rewarding to be able to enjoy life and still increase my assets. It's been years since I've been a perfect individual, Paulo. That's the idea I defend, you understand? You have to accumulate capital. You also need to enjoy life, not just save for the future because the future belongs to God.
You don't have control over the future, so live, save, make your investments profitable, and withdraw a portion. And then what you have, a small portion obviously well managed, right? For your little luxuries or your little desires so that you can even afford some more sophisticated luxuries. I've already mentioned here that I love to travel, so it was investing in stocks that allowed me to...
It provided great trips in 2011. I've already mentioned here that when I made my first million reais, I gave myself a dream trip, which was to go to Bora Bora, you know, with my wife. So it was a gift I gave myself, and so many other trips. When I went to France to spend New Year's Eve, when I went to Lisbon to see Lisbon, Barcelona, which is a trip I've taken constantly, practically from 2008 or so, 2009, and successively until 2016, it was an easy thing in my memory album to be in Barcelona.
Barcelona, I love the Barcelona team, and I experienced that whole wonderful phase of Barça, that key moment, Guardiola's command there. It wasn't a pleasant thing to be at Camp Nou seeing that show of talent and creativity. So, just the small pleasures you offer yourself, and not just restaurants, right?
And in restaurants, renowned for good gastronomy, taking trips like I did to Greece to see Greece, or Italy. So all this is what money provides, and you can plan and organize to take one of these trips every year, you know. It's an investment, actually I don't consider it a cost, it's an investment you 're making in knowledge, in culture, in beautiful places that are good for your soul, good for your health, and good for your culture.
So for me, all of this is part of the process of enriching yourself intelligently, which is what I advocate. Get rich, but get rich intelligently, not by becoming a miser, you know, someone who doesn't want to spend anything. I think that's it, you're not building happiness. You might be building wealth, but you 're not building happiness.
I've already told you about Ronny and Max Road Marks, an American billionaire investor and author of a successful book, "The Most Important Thing for Investors," which I recommend you all read. I recommend you all read Ronny Road Marks' book, "The Most Important Thing for Investors." Look for this book, mandatory reading.
I've already recommended two books here recently, right? "The Revolt of A" and now "This Is the Most Important Thing for Investors," which I've also mentioned by Roger Marques. And it's worth remembering that Ronny is investing in Oi, you understand? So, for the skeptics... The thing is, I don't believe in Oi, I want you to know what a horror Marques is, and he's investing in Oi.
Okay, so let's go with him, let's go with the sharks, let's follow the movement of the estuaries, but forget the crowds, the ignorant crowds, the crowds know nothing, they're always going the wrong way, look for the sharks, where are they? Let's go with them, understand? So BTG is in Oi's waters, great, wonderful!
I'm with BTG, Ronald Marques is in Oi. Oh, wonderful, let's hitch a ride with this shark, understand? So he's an expert in the investment market and he has a fund that he created in the United States, which is something around 150 million dollars, right? So he has become one of the very active voices in relation to this international financial market, and recently he gave a statement, they asked him if he was worried about the Federal Reserve's policy, this expansionary policy, say, credit, money that you have, if this wouldn't be a threat to inflation.
And so, let's just pay attention to the answer he gave, in the last 50 or 60 years... Economists have always said that inflation is determined by something called the Phillips curve, which states that when the unemployment rate falls, inflation also falls. That's right, the unemployment rate falls and inflation falls because when unemployment decreases, the supply of available workers becomes low, meaning that employers have to deal with the workers they have, and they thus gain more power to negotiate raises.
This is a classic theory. So, wages rise, and this causes the prices of the goods these people produce to rise. Therefore, there is an inverse relationship between the unemployment rate and the inflation rate. However, for the past year, we have had the lowest unemployment rate in 50 years in the United States, about three years.
Three percent, and a year ago I had the lowest unemployment rate in 50 years, 3.3 percent, so we didn't have inflation at that time. We had the lowest unemployment rate in 50 years, but we didn't have inflation. Therefore, the answer is that nobody knows anything about inflation; it's very mysterious, and you simply can't make valid predictions about these matters.
So, look at what he's drawing attention to: although it was thought that a low unemployment rate could contribute to increased inflation, a year ago the unemployment rate was the lowest in 50 years, and yet there was no inflation in the United States. So, his conclusion is that theories are being overturned; what was thought a long time ago no longer holds up today.
And the reasoning behind this is that the Federal Reserve—I understand, you in the United States—is always looking at the issue of inflation, but it will keep interest rates low in the coming years. It has already said that the level of American interest rates should remain like this, and as it is, it's below, close to zero, until 2023.
Well, so this policy, right? But it's a policy based on the study of reality and not just on assumptions and theories that... They served their purpose in the past but are no longer applicable in the present, so remember what Max says, Roger Marques said, so the answer is that nobody knows anything about refraction, it's very mysterious and you simply can't make valid predictions on this subject.
So let's learn from the big investors, let's learn from the sharks, that's what we always repeat here, let's follow Roadmax, by the way, he's investing in Aoi, me too, and you stay.
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