[MUSIC] Hey, you. You still here? Hey, don't be scared. So, [LAUGH] we saw that there were quite a few animals in this menagerie at the finance. Talked about bulls. We talked about bears. We could talk about maybe pink flamingos. That's a new term. We could coin it. Maybe for the perfect investment. Perfect equilibrium. All weather types of situations. What else did we mentioned? Dogs, cats, hawks, doves. And yeah, you remember the blacks one? There he is. Almost in the same spot, as the introductory video. Well, when we talked about the black swan then, I told you that it refers to a very unlikely event. But if it happens, it has very nasty consequences and you should take into account both. The probability, which is very low, but the outcome, which is very nasty and to factor in, in your investment decisions. And I gave you the example of Fukushima in Japan, which triggered the massive recession. But there's another example, which we also saw when we talked about gold and we referred to that as the ketchup inflation. Do you remember the ketchup inflation? Shake the bottle, nothing comes at first and then suddenly splash? Well, this is also a black swan. It's something which happens when central banks, for instance, bring money in excess and people lose confidence, lose faith in fiat money. And suddenly, they start spending the money they get at increasing rates and that triggers hyperinflation. So this is something very unlikely, but very nasty as well. So all you know, I believe that the most important message I want to give you in this conclusion is that I hope that you had fun with this course. And also that you have now the tool kits for being able to, how should I say that, to cope with the next financial crisis if it comes. Actually, I do believe that financial crisis come regularly. Hopefully, we'll take some time before we get the next one, but I believe that we always have this excesses that mimic the economic cycle. We go from excessive leverage to the deleverage and excessive or too low depth, and this is the essence of financial crisis. So I hope that here with this course, you have the tool kit to be able to go through this financial crisis in a safe mode. Hey, you, black swan. Come over here. I want to show you [LAUGH] something. I have something for you. I want to show you what we can do with ketchup inflation. [MUSIC]