The most crucial survival rule for any stock market investor is to never become a forced seller — those getting margin-called, whether in South Korea or here, are the ones forced out while others buy the dip and the market keeps hitting all-time highs.

31:29other name and I'd say call Courtney and it wouldn't work. So I had to change it to wife. So it just says wife in my phone now cuz I said because that's what that's what it gets. >> It's no better than the automated services that you're like you know when Larry David is yelling at the the incur. >> It really is hard to believe. And guess what? The stock market doesn't care.

31:47>> No right. >> We care. >> Um all right let's talk about South Korea. the the Cosby index at one point was up I don't know I think it had doubled for the year and then in five weeks I mean it just it's a semiconductor trade but in five weeks the entire market which is I think the sixth biggest stock market in the world collapsed 40%. And it's still today up

32:09almost 50% on the year. So we got a 40% drop in 5 weeks and it's still up 50% on the year. >> Unbelievable. It really is again one of the biggest stock markets in the world. And >> but so that story is interesting. So >> So they got liquidated. >> Yes. I think the number was 3 and a half% of the entire population of South Korea got a margin call.

32:31>> Can that be a pretty high number? That's what I read. >> All right. So they have a great chart showing the one day change and then they show individual investors net buy value for Cosby index and then they show foreign investors. So individual investors got liquidated and foreign investors bought the [ __ ] out of the dip. It is, by the way, it's Tuesday morning, 9:38, and the S&P 500 has gapped higher,

32:52meaning it opened higher to a new all-time high. >> Ding, ding, ding. >> Meaning the highest the stock market has ever been in the history of uh of mankind. >> Isn't that the these people getting margin called and Leo getting margin called? Like, this is this is the thing as a stock market investor. You just have survival is the key. just never get yourself in the position where you're a

33:15forced seller. That's like it sounds so simple and it people just can't help themselves. Ben, one of the things that I've been saying over the last couple of years is um one of the things that people use to dismiss the bull market or cast doubt is all of the degenerate behavior. Oh, look at people buying stocks and leverage and they're buying quantum computing and whatever the next hot

33:42thing is. And they use that as a way to dismiss the validity of everything else that's happening in the market. And I understand that impulse, right? It makes sense. Like, oh, there's so much speculation. This is going to end badly and it's going to end soon. I get it. Um, and what I've said to that is, listen, we live in a world of 24/7 trading of of hype everything happens