Earnings Season - 2020 Market Review (Part 3)

Episode Date: May 21, 2020

This week @RTRowe & @HDanhai continue their Q1 Market Review but with updates from some of the recent results released…and they brought some friends of the show along to help. The one and only Dr. @PhilburgInvests, Big Baller @ShaeMill and the one and only Top Striker herself @ExaggeraShan. They all give an update and then jump right into the results; Barita. Sygnus, Fontana, PULS, Wisynco, Key Insurance, JMMB and a whole lot more get touched on, plus the guests match the hosts gem for gem. Come for the gems💎, get more with friends… 🤯Contact Us Here 💻 [e-mail] us on Twitter here 👉🏾 www.twitter.com/Earnings_Seasonwww.twitter.com/RTRowewww.twitter.com/HDanhai🔗Links🔗Mailpac's New Deal - https://www.bit.ly/2WO3R7P(IC Insider) JSE US$ volume doubles - https://www.bit.ly/3bOucHsWisynco's New Export Product - https://www.bit.ly/2ToWPnUDavid's Data on Palace Amusement - https://www.bit.ly/3bPrbGDGRWR Signup (20% Discount Code: MOMSLOVE)  - https://www.everymickle.com/store/grwrstream/🗣Shoutouts 🗣@JCKnight2, @CallTyrone_W, @5Solae, @mannishwaata, @ICInsider, @JohnHJack, @MsWhervin ★ Support this podcast ★

Hi guys, welcome to another episode of Earnings Season. I'm Randy at RTURO on Twitter. And I'm Danai at HDanai on Twitter. And this is Earnings Season. Now this week we're doing a little twist on what we have been doing for the past few weeks. We are continuing to review the market, but this is a true earnings season. Now, Earnings Season, the podcast, is named after Earnings Season from Investing, which is a time period. In Jamaica, it's 45 days. 45 days after the end of the quarter.

Yes. how you got that knife 45 days five days after the end of the quarter yes so 45 days after the end of a quarter when companies report their earnings yes so this is earning season because a lot of companies are reporting at one time so it's a season for it crap load of our companies so because i know it's a lot of companies and a lot a lot to cover i brought in help so we have on the line not just hd9 but we also have the top striker herself shanice um right drum roll on wow that's not the drum as expected all right we have a tough striker shanice um and right behind that we have somebody who's new to the podcast so a new guest but a long time listener first time caller shane for the people hi i'm what's what's my twitter name shay shay mill yeah i think that's it so yes i'm at shay mill uh my name is shay miller i'm a

psychology student a grad student at uemona i started started investing December 2018 started with Fontana and then it's been interesting Wow you still hold that fontana from IPO yeah Yeah. Nice. What do you mean? Eat her food, yes? Eat her nice food. New striker. And then we'll wrap things up with the one and only. The sick guy. I don't even know what to describe him. I wanted to call him a troublemaker, but I don't know. A man who has been on top of the market.

Put all me to shame because I don't follow it as hard as he does, which is inspirational to me because he has a harder job than I do. The one and only Dr. Phil. I just realized that we can actually call you Dr. Phil. I actually can. I don't know if you've ever said on the podcast, Phil has been on the podcast before. Big up Phil. Phil, I know I interrupted your introduction, so I can make you get to it. But I don't know if you've said this before So this is me giving space Just in case I have to edit it out

Have you ever said on the podcast That you are a doctor Phil? And do you have an issue with anybody knowing that? No and I have no problem with that And I did say it on the podcast Friends of the podcast edition There we go Yeah so

There we go so we have the one and only dr philberg invests yeah man that's that's me um i have i'm a general surgeon i work in turks and cacos but from jamaica and yeah i've been investing for a while but my my I've been investing probably from 2002 on the Jamaican stock market indeed and but most recently I've been more active over the last since 20 a team's good how are the gains there it's been an interesting say that again money money money boy it's been an up and down right last year was very good last year um average i mean the overall portfolio was 45 percent um this year has been rough i suspect for most certainly not all so for me um to be honest i can't tell you exactly what where I am but I know that I am down probably somewhere between 10 and 15 percent here today why can't you tell

exactly how much you're done by the way because of realized gains. Aha. Realized gains and losses. Accounting for them is not as easy as tracking your portfolio when you haven't sold anything. All right. You check all the money, all the money you have, then you add all the stocks you have,

and you just divide that by the... Start your started here good yeah and you get that percentage you have to account for the money that you've put in yes well yes you do have to account for that and you know what sorry go ahead and i can't wait just add that any money put in since here add that to the starting and they figure out the start of the year cool cool cool yeah phil phil just message me just link me after this and i'll see what else i can help you with along those lines now i have to take some heat for that because i made my dashboard to help track those things and the dashboard is so funny is that it was a reflection of my thinking at the time, and it still is.

So there are things in there like I deliberately don't include fees because I want fees to be included in my share price, right? Yeah. But, I mean, I shared it. I shared my personalized tool with everybody, and a lot of people learned it from the brokers. And the brokers have not over the years been a fan of you necessarily seeing what your fees

are, meaning including it in the price, right? So they want to say if you bought if you bought jam tea for $3 they will tell you that you got it for $3 and then they don't include what the fees are.

They include the fees, but when you speak to a rep, they will tell you, oh, you got it for $3. You got it for $3. Add the fees onto what the total money spent was, divide it by the amount of shares that you got, and you're going to get a number bigger than $3. And that's your real price, right? Because I work with what's real. And so as a result i never put it in same way i never put realized gains in because

it was always for me to be able to keep track of what's in front of me now and i have been back and forth about whether or not i should share but the same the same dashboard will work it out phil as long as you put in all of the money all your buys and all your sales okay there's a way for the dashboard to spit it out so maybe i'll share another version with you or something else but you know you should you should look at it but you should keep a nice idea and i'm not making you i'm not trying to stress you because i believe um i don't i don't know if i'm done also from the start of the year and i think no no yes so spoil alert then i was supposed to that q1 race um So, spoiler alert, Dana and I were supposed to do a Q1 race.

We don't win. We haven't done the exact numbers yet, but I know that we both lost. We both lost. Yeah, we both lost. I'm not telling you one of us lose worse. I know that I know it because the day when I realized i was like yo i'm sure that we actually lost i i went out and started i restarted me doing um a lot more of the the short-term trades which i hadn't done for a long long time and i was also influenced by the top striker herself whoever did and actually get up and make money how things going for the market

day and actually get up on that money how things going for market right my portfolio is all thankfully damn damn damn since the start of the year I don't claim my other friends like this. Come again? For real. Yeah. Then I just heard that. So I'm going to make sure you hear it. Then I said, that's why I'm going to claim you as a friend. I don't claim other friends like this.

I don't listen to the night talker. We try to every week. Anyway, how did it go at Polar Station? yeah it was going pretty well and then the market took another little dip and I lost a little money so when I checked it last week I was up 51% alright she needs to have a break on this one so you buy the whole market yeah right she can't over'll come talk about the market dip. My bad. A couple of times I was in dip.

So, yeah. So, lost a little. Brought me down to 51%. So I'm up 51% right now. Not really right. No, I checked it last week. But I did some stuff already this week. actually made a little more gains this week so i need to add that in up 51 percent when the market don't that's how much market don't check it out more than the market is gone

yeah well the market is down But she's up over 51% That's what I'm saying Say the market is down by 30 something She's up by over 30 something Damn That's Tony Alright So Shanice how are you doing this

I mean I spoke about it the last time It's the same thing That's right people If you don't know it Go and listen to Shanice's episode Shanice you know your episode number? Ah no Not that bad

33 I don't know mine either 33? Don't I? Probably 36 It's 33 actually Episode 33 Top striker's gonna strike It have a whole heap of yapping

a chapter lot of that but it have all the gems from shen and i am i am i am more than than like inspired every time i listen to it actually i don't think that episode has gotten the hype need to get but that's on me we soon get somebody's a bad man it is totally bad man i'm just saying you know what if you don't want to get the gems then go right ahead and and not get that but you know the people who who want the gems and work consistently there for the gems we get it consistently there for the gems we get it yeah they should they should yeah but you find what what what most of the people saying the good the bad the ugly um most people want to know what exactly i do how i do it what i do on each days um they want to actually see how exactly i trade if they can like sit with me and see how i trade oh yeah it's an interesting request requests, though. Yeah, I can imagine.

I can imagine. I know the requests that I get, and that's why I stopped talking about short-term gains very publicly. Yeah. I am also not a young lady, so I can imagine how much more interesting the requests must be for you. Yo, she have sense and she have money. much more interesting for you yo shot Jeff since I share money oh boy I'm she I won't I guess bad man cuz I'm joking but I will ask how things have been going for your portfolio then oh I'm definitely down but I I think I'm in a better place now

because my thing was oh you know it's a good company it will be fine but then I did a grower and then it was just well this is a good company but is it going to do what i wanted to do you know and so right now or or lately it's just been a lot of look at this company no it's not gonna make me the money i want okay bye a lot of that has been happening and just strengthening positions in others. So restructuring. I'm down. I'm not as down as far as far down as earlier, like when this just started. So I'm doing better, much better than March.

And it's nice. You know, it's nice. know it's nice so yeah I'm down much better than I was like say two months ago okay so even though you're done when you said don't give me something about an idea the percentage um maybe let's see maybe maybe 20 maybe 20 you're not tracking okay i need to i need to add some stuff so school has me away i must say trying to finish uh but based on the numbers i'm just saying based on the numbers, I'm just saying, based on the numbers, it's about 20. Wow. Are you not going crazy? I don't know if I can talk your business.

Well, I'll allow you to talk your business. Can you say something major earlier? I'm not worried because I'm in a better place now to do what I need to do. And I don't feel like married to the companies anymore. So it's just, are you going to give me what I need to do. And it's not, I don't feel like married to the companies anymore. You know, so it's just, are you going to give me what I want? No? Okay, bye. And it's just like that.

So right now I'm making some changes and getting myself together for, you know, like some tap strike I'm moving, you know. I'm not worried. I'm not worried I'm not worried at all hmm I like that I like how you saw you saw I'm confident even though especially you know so very a lot one of the reasons also is because I i like the numbers that i'm seeing coming out are companies that i looked at last year this time and were like you know i like this one i like this one companies that are jumped into their their their so what i would do before i knew anything about reading statements and all of that fanciness i would

just read google i would just put in the company name and read everything that comes up. And if I liked it, then I got it. So now that I know more and I'm seeing these companies that I liked a year ago when I knew almost nothing coming out and coming out strong, I'm like, oh, I might be onto something if i actually put in the work i should be fine makes sense so that's why i'm not worried you know i like that and even that time you've been you've seen how the market can help people this was me alluding to the point that if you don't you can mention yourself you yourself. If you don't want to mention it, then we don't mention it.

But I don't know. I just, before it was a matter of, oh, if you work hard, you know, even today I was thinking it. I cannot believe people had me believing that for all my life. Like, oh, sweater your bro, just work hard. You know, and right now I'm just like really i could have been doing this the whole time i mean why didn't anyone tell me you know that kind of vibe just yeah so it's it's it's just a different place mentally it's a different place mentally for someone who you know like didn't come from money.

I don't have a name or anything. It's just, it's just one tweet that I saw and it started, you know. What did I say? Nice. Yeah. That boh say, that boh say, I don't come from nothing greater than my parents either. But I am happy to see the change that people are feeling and seeing. Are you started when?

Say it again so people listening can know. So before I said Fontana, but that's actually incorrect. The first tweet that I saw was regarding MPC. And I was like, hmm, renewables. That sounds nice. So I started with that and then Fontana. And I just started to dive into companies because I really didn't know that all of this was happening this whole time.

So it was December 2018. So a year and something. Wow. Yeah. Wow. And a year and something wow yeah wow under a year and so people that's part of the reason i had her on here so when we had done the chinese episode um i had wanted chinese to talk more about the fact that she just started but the truth is as chinese i'm sure realizing now the second you sound like you're good at investing people just immediately decide say you're an expert no matter what you tell them it's true is there anyone that comes down like yo i'm a novice i really i'm new to this i still think i'm new to this right and then just ignore

you right all the time right you remember when i used to say it in the group? Yeah. And we did not believe it. Yeah, no, you see, like I'm saying, yo, I don't know it. And that's the best, that's the best worst part where people, where you realize that, yo, no one actually knows. The idea is that you don't know you are making it as educated as you can of a guess. That's true. Gaspar, and you're guessing? Guessing. What's the next word? as educated as you can of a guess. Gasper, and you're guessing? What's the next word?

What's the next word? Speculation? Oh my God, you're a speculator. You're speculating. Anyway, enough of the foolishness. If you're not speculating, then link me. I'll give you my money to invest.

Right? No, if you're not speculating, then you're insider trading, so I'm good. No, if you're doing that legally, then yes. Ah, okay. I guess. So you only buy during the blackouts. But anyway, so we have everybody's history. Other than Phil, I don't know if, well, Phil, tell your history. Although people can hear some of Phil's history in the last episode you was on, which was, Phil, you know your episode number, right?

Number 20. There we go. Phil, pay attention. That was easy. Gift of fans, right? The gift of fans from December 27th. Time fly. Right? Phil Phil to tell how things been for you you say other than being down you know really

you feel more comfortable in the market now definitely feel a lot more comfortable I mean I wanted to to to carry on on a point that well regarding Shanice's episode Shanice's episode, Shanice's episode is one of the, I've been listening to the podcast from the first episode.

Thank you. Thank you very much, sir. Same. and I've listened to several of the episodes more than once. And I would say that, but for a long time, I would probably say, you know, most of the episodes, like in the teens and so forth, 20s, I would listen two times, maybe three times. I've listened to Shanice's portion of Shanice's episode several times. Wow, Phil.

Because it is a different, it shows a different mindset, right? Which is not very easy to explain. And I think that the way she went through it made a lot of things clearer and allowed me to feel a lot more confident in doing some of these short-term plays. So were you confident before? we're not doing them because of confidence not really yeah I know this is wrong like you can't do this it's not gonna work it can't But I've been doing it

I'm not going to be the one to tell people to do it. Exactly So I was I was doing it before but I wasn't as confident hearing

so I mean i certainly a lot of it i was looking at the cues every day looking and seeing more so than actually getting in before i started doing the short term flips and so forth uh it was a lot of trying to study the cues and see how the thinking is. And then in hearing the episode, it gave me more confidence to go in with probably bigger sums of money. And I actually did pretty well with uh with cinco the other day where we think yeah i think we think it was a really good one i think

i can't remember the exact numbers but i think i went in at 13 something and came out in the 20, like 20, $20 something. Like 2022 and it went as high as 2060. What was the time period between the 13 and the 20? A week. Oh my God. Well, Phil i i cut in your story but i i want you to say something which is something i wanted to ask i remember wanting to ask shanice's and i was listening to it after i was like yo you should have asked her more and there's one time when danai asked and i interrupted as i am wanting to do but tell us how did you know how did you know

that's what people listen yeah that's what people listening want to hear they want to know what made you know to go into a sink or no and to hold it what made you know it was going to go up that steeply in just one week and then how did you know to come out i didn't know how high it was going to go what i lot of what I used was the queues in terms of choosing a stock that you're going to do something like that with. It usually would have to be a stock that is widely held

in order to get decent volumes. And then the more popular companies with Synco, GMM, B, probably Supreme Ventures, V-Mill, they lend themselves more to it because it's a little bit more predictable. It's a little bit easier to predict the movement of a large number of people movement of a herd than it is to to predict a movement in a company that is more tightly held like say one three eight and so the cues were gathering a lot of strength on the buy side. Right? And I was, I mean, in the group,

you would have seen me posting the number of people in the buy, in the buy and the sell queues around that time. Almost obsessively, really, putting the number of people in sell queues um around that time almost almost obsessively really putting the number of people in the queues and you could see that um the sellers were decreasing the buyers were increasing i can't remember honestly what the news was around that time uh but then you are seeing the the prices go up and come down and so i decided to get in so i saw it happen a couple times where it went to 16 and then came down um came back down to the 13 and over a couple of days over a couple of days and i decided to go in and then when i decided to come out was because the you started to see more sellers coming in more people trying to take profit and you know at some

point in time the bottom is going to fall out so you don't necessarily try to catch the peak or the trough because that is where you end up um basically flipping a coin and you know you you can't nobody can predict the exact top or the exact bottom well i wouldn't say nobody but it's difficult to predict the exact top and the exact bottom um and so you'll only know after they pass yeah exactly so so you choose a target price um you kind of base that on the strength of the buys and the sales coming in and not just the number of people in the queues but the volumes in the queues and then um and and choose a price to come out and during the day you actually can see sometimes you can see the trend in what is likely to happen towards the end of the day in a queue so if for example it was happening with GMMP recently where the buy queue was at like would be like at 33 the top buy would be at 33 and the top seller

would be at 34 and for the whole day you're seeing it like that and then you see a few people going down to the 33 to sell but it's not happening a lot and if you see more people going down to 33 to sell than people going up to the 34 to buy it wouldn't be surprising that in the last hour of the day you might have a big sell and so you can put yourself in the buy queue um if you're looking to buy the stock put yourself lower in the buy queue, lower than the 33 because you might have somebody coming in towards the end of the day

making a big buy. Wow. So I can tell you this, all of the beginners listening are lost. Completely. And I don't know how to give them that. There's no easy way to give them it guys what i'm talking about does require a little bit um not yeah there really is no easy answer no

easy way to give it but i will say that if you don't i'll tell you at least when he talks about the queue um j trader and if you don't know what that is come to grow all right every michael.com slash store slash grow um but if you don't know that is that's a tool j trader is a tool from jsc and it allows you to see on it in addition to the whole market allows you to see what people are offering to buy shares for and how much the people that have the shares are selling it for so that's a cue that's the most i can tell you but the rest of us who know you kind of get it and i'm sure they're going to have a whole heap of questions. I'm going to question them on Twitter.

Tell me your Twitter ads to them, though, at me, please. Yeah, my ad is at Philberg Invests on Twitter. There we go. There we go. And I noticed that Shay had her hand up because Shay didn't want to say something. So tell us, Shay, what your story was. I was just saying that I just checked because i've been staying away from my portfolio a lot but i just checked and my i'm not i'm actually down 11.1 percent not 20. so yay

i mean that's that's pretty good but why you stay away from your portfolio just cause it's bad it was stressing me out man when coffee just started like yo let's just not look at this for a while how about that yeah you can't you can't but yeah i'm back on back in the game that's good um don't don't ever allow my advice for you and anybody else is you don't allow a bad portfolio a bad situation to cause you to stop paying attention to it it's like if think if you have a sore throat and you hate having a sore throat or you get a sore throat now in a corona time and you're like yo i know i never forgot a little river flex there you know you catch a sore throat three days later right do you go and try and handle it or do you just ignore it and i know human beings would think you must ignore it but you got you try and handle it right same thing with your portfolio

don't ignore it it can't help if you're in a bad place, the best thing you can do is look at the actual bad place you are and try and rebuild from there. That's basically what I did. So yeah, that's great advice because it worked. Yeah, man. The day it stops working, you'll know because you'll swim up on Twitter ball.

Yeah, and I didn't even realize, I don't want someone to think I'm some Zen master, I'm not. But I didn't realize, I have to look back and realize that I went through the same thing you did. There are times when I just never used to look. And now, if I don't look, it's because of time. It's not because of being afraid of it. And it has helped. And look at it this way.

I have, I was looking the other night. Between the first week of March and the end of March, I would have lost more than $10 million in market value. Right? What do you do? I'm not going to kill off myself. You just move and you go again.

You have to make it back. That's just how it goes. And I'm not saying that to sound like, yo, if I can lose $10 million, you can't. No, because the truth is I wasn't going to cash that 10 million out so whatever happened happened but on your side if it's 10 alone you have treat the 10 important same way and i don't want to sound like i'm okay with that 10 mil being gone yeah best believe me want it back and i'm coming for it you know that thing there that, not to not

run the money, but if you look at it, if you're losing 20%, if you say you lose 20% on $100,000, then your goal is to make back $20,000.

If you're not going to lose 20% and you lose $10,000,000, then his goal is to make back $20,000. If Randy loses 20% and he loses $10 million, then his goal is to make back $10 million. It's going to be harder for Randy to move enough. Yes. I think that's the challenge of

a large holding or just having larger holdings. Losing money to make it back is a longer journey or or just harder than a few of us options no you're only certain things can take the money to make what 10 million dollars it so you want 10% on something you see a 10% play but he can only take 200 thousand why I'm bigger feel make more fee so as you make more money

so as you make more money then it becomes a problem to actually boy try and make it back so I think that was my challenge with the thing there

not 10 million dollars but it was my challenge it is my challenge getting back to where I was at the start of this year so how I started this year versus now

because of the whole COVID situation and the market and what happened with my stocks. I don't know what I'm saying. It's about seeing the market. So what happened with my stocks and the money I lost because of where I lost the money and

how much I lost to recover that now is, boy, it's a grind. Yeah. You can't stop. You can't. I mean, it's like right yeah work out stuff yeah you can't yeah and one of the i mean it's not a problem that i like this is one of the things where you know the different levels of money have different levels of problems and i'm talking about in the market right um and so if you have 10 grand if you have 100 grand if you have 200 grand depending on what's stuck in you can move it in and out if you have if you have a million or more for some holdings um i mean you have to do things like what

dana and i'll tell you like signals we spot we spot some coming from long time i don't mean two or three weeks it's funny so i haven't said it in the group that what we did is signals so i'm sorry guys continue no i'm not i'm not really selling you out i'm just saying that we saw it for a very or unless that's what it is but i just we saw it for a very long time but for some stocks if you have a certain level of holding you just sometimes you just can't move it out you can't move you literally just can't move you see it coming and you just have to ride it um but for lab one my 10 mil was lab um i i as somebody was touched the short term long enough you can see certain things where you know like it's good to cash out two or three million here four million but that's hard for you if i don't want to tank the price me moving out five million will tank the price um and cause that and cause us

a rush in the market which might wait i'm not standing this crash i'm gone exactly and i don't actually have as much as we do it one when i don't actually have a lot of money right so i can't set myself yo let me let me let me cash out five mil cause it to crash but i'll make it back in three or four years which i can say but when i know about that right now my money is strong so yeah so early is the best time early is the best time to be rich just yo i i corona has taught me that imagine if you were doing low and slow for the last two years before corona think about how much money we've made in the last since since i started investing right so i thought about my returns my nice heavy percentage returns as i did no and even as a saturday series but

the money i've lost from corona it's insignificant to the money I've made over the time I've been invested because my drive was boy let me get these heavy returns why can make 30 percent in the last years and market what if I don't wipe it out in one quarter then rough imagine that it took a three years to make 30 percent and one quarter to lose all that yeah but the square one yeah that rough man yeah yeah man a rough bad but you know um that's just part of investing you have a whole lot that is what i mean by his broker on some things and he was telling me that he's now senior if he's fully checked his portfolio and he's realizing he's at a full loss

he's at less money than he started with right and my the first thing i said i said to him that's all right, because the habit is more important. It's almost as important than the money, than the gains they make from it. If you keep putting money into this and you don't get the gains over time, then that's better than, boy, every morning I throw all the money I have at it. And when I come to check it now, boy, I have less money. Imagine that. And then you stop investing and you just don't get anything gained from this you start spending all the money instead they actually have the habit of let me invest some money so when you actually go back

you need it there's something there because he has quite a good amount of money from his last money and those are the fact that say it's been sitting there in some sort of saving it's savings of some sort like he has money put down somewhere if he needs money right now he's good he's fine so even though he's lost he has money put down somewhere and it's a good amount because he's pushing so much money to it over and over and over and over on my earlier point about um heavy holdings and losing money. Boy, imagine like Chris Berry and John Jackson looking at MJE and QWI.

Right? For them to say, let me recover this. Randy talking about 10 million and imagine how much they you can see MJE and QWI's report, which we should be going into soon yes you can't oh yeah i just remember the episodes about actually how much how much money

the companies have actually lost from this and think about what they have to do now to recover that money yes to move around and move in and they are certain places open to them that rest of us can't just look. But if you think about it, boy, rough on them same way. And they have shareholders in there with them. They have to make the return. And find a way to do it. Yep.

Well, that's just exactly where it's going. You guys would know privately. I didn't say it on the show, but I'm going to cry for rich people. You know, you can't. You can't.

Everybody has their own struggles and it's all you deal with it. And maybe that's me being rough. I think you're trying to say a different talk. You're getting to realize that rich people have feelings. He said that on the podcast,

by the way. I have said that. I have said that. You guys do have feelings. You guys. have feelings You guys Anyway guys Anyway guys You know for the Yappi app What you actually came here for

We're going to kick this thing off properly So it's a micro review Of how the crapload of companies Release their earnings So we're going to start with When earnings season did start Danai? Like last week? Yeah last week yeah last week it's supposed to be friday officially last week friday the 15th but that's when everything new

you know everything starts trickling in from before that yeah some early results from some from some companies yeah that's correct um i think from maybe the eighth we started seeing some stuff so we'll just throw things out people talk and we hear it go i'm going to start it off with i think i want to say honey bunny but honey bun came out on the 14th and i think something came up before that anybody know what would have started it yeah then if you want to count ncb BRL, they're always critical. Even though we did mention Barita's numbers. True. Yeah, we did mention Barita.

Barita, find it as always. I'll find him and I'll find it. I keep saying it. Randy came to teach investing. I ended up teaching vocabulary. Oh, my Lord. You're funny. You're funny. in randy came to teach investing i ended up teaching vocabulary oh my lord you're funny you're funny um that people deny is a troublemaker here oh you remember that dana is a troublemaker i might have to start for it but dana is a troublemaker uh i don't talk as much yeah man I've seen buzz drops up my early early and Randy was saying

boy you drop strong results early is that show show strength

I think so or maybe I mean I think what happened with Corona hitting the

market some companies especially those who I my personal view before before I think what happened with Corona hitting the market, some companies, especially those who, my personal view. Before Pulse? Yeah, the fifth.

Oh, that's good. Well, it's the same rule. Some companies, I think, who might not always be viewed by the investing public in the way that they might want the investing public to view them, have to, again, this is my personal view have to always be remind yeah preempt certain reactions remind people about what's out there pulse was is another one who they they actually held they

stood up during the corona time i mean as thing there. I still see analysts that think Pulse's main business is modeling. Right? And real estate now, right? You hear it. My favorite word, core. Let me talk about core. Yes, yes,

that is true. All the time you hear about core from Pulse. But what is Pulse's actual core these days? Where are we making the money really? We can start it off with Pulse. I mean, yeah, the quarterly report dropped, which covered up to March 31st, 2020. And for everybody, you'll hear us talk about Corona.

I think officially Corona would be like the first week of march so maybe the third or the fourth that's when the market started to follow yeah yeah i mean if it's not true don't let me go to that you know okay the third yeah um and they had revenue of that's from January to March 31st, had revenue of 162.6 million Jamaican versus the same period last year, they had revenue of 108.2 million. Yep. Yeah, and of course, profit, net profit of 255.2 mil

versus 108.2 million same period last year, right? And on the nine months, because March is their nine months, that works out to 475.1 million revenue versus 721.2 profit. And

the same, and the nine months a year before, and guys, if you think this is annoying that i keep comparing it then you need to definitely learn more about investing because that's all it is exactly it's funny yeah the the 329.01 million in the previous nine month period versus 728.2 million in this period which means that they've more than doubled their profit in both the quarter and the nine months. And these guys are strong. No, elephant in the room.

Heavy profit came from the revaluation of their investment properties. So real estate gains. Not profit in a real sense. properties. So, real estate gains. Yep. Not profit in a real sense. Until they buy a house and they say, well, I have equity. Yeah. Or until they think

they're quite again, they start selling you their real estate unit trust. Ah. Ah, that is true. That is true. That is true that is true yeah you know new at all you know but that's good that's good that's true um honestly i don't want anybody in industry to tell me yo i'm just really saying you need to selling but don't look at paul's profit because guess what it's too much real estate unit trust selling but don't look at paul's profit because guess what it's too much real estate big up yourself it's not right all right it's crazy though there's there's so much value in um in the real estate um value yeah i mean you can borrow a green star back and marine can go proportional to thing there or i

can say look look at this. I am underweighting my rent. My rent price is based on the value of this property. Everything in this area. Generally, you find that thing there. If an area starts having a swing in their property values, then you find the rent price is going up. So what was $50,000 a month last year is now $100,000 a month. But Poles, they don't really have a big flexibility.

There's not much change in the actual rental prices. They're now cheaper than everywhere else in the area, despite having things there. So they're now a better alternative. If I want to rent in their area then boy looking at 70 000 but guess what post are 50 000 and they have this nice room whatever it's the same same level of property but it's cheaper i don't know that type of thing it's really good for a thing there but i'd find that if not um big up larry larry's critique

critique of certain voices. They don't look at stuff like that. It's not real to them. It's just what's on the paper. That is true. They don't think of what's actually happening behind the scenes. And Pulsa's a whole heap of excitement happening behind the scenes. We can't be worried about what new businesses are doing.

And going on right now. Despite COVID. I mean, COVID not going to stop the builders right that's right that's right well no we heard we can both continue

we see where the prime minister said that the construction continues and we had one construction person a couple episodes ago, bigger up, Miss Werbin, where she spoke about the fact that she's in construction and projects have not stopped. Mm-hmm. Right? Some have slowed down, but not really.

Yeah. Even then, you know. Once you make that outlay, you know, once you start, you know, you make that outlay and you start, you know, you kind of, you know, it's kind of like falling dominoes. You can't afford to start building and stop because it yeah it costs more to have it just sitting there that's been one of the biggest drags on money for a lot of people you can see some places start and you see them start breakdown because money run out halfway so it's in your best interest to not stop so it's in your best interest and not stop

that's true no continue continue sorry from the point of view of of say a contract no if you if you um are building for say a pulse or sandals a big company like that and you tell them that you're building it in six months you sign a contract saying that you're building this in six months and if you don't have that ready for them in six months you the contractor are liable unless you have some serious extenuating circumstances and it's up in the air as to whether or not you can use coronas for that and your credibility is on the line too and your credibility is on the line too and your credibility is on the line yeah a house i only see that going you know where you come and send contracts i'll stretch it out exactly i'm not coming up with a house can do that but

okay i'm gonna tell king to cooper that and say what he said no you you this is six months you tell me this is the money you want the next contract kinky cooper come with so exactly do a good job yeah boy so how we feel about pulse looking great to me same here i am still a shareholder as i am also so am I look at that, we're biased then man we are biased then what's next I'm not currently a shareholder but I also like it

last I was and I'm thinking of getting back in but I don't know, watching it a little bit and I have a little bit more thinking of getting back in, but I don't know. Watching it a little bit, and I have a little bit more thinking to do around it, but it looks good. And somebody said something the other day that made me look at it a different way when they said they care about the share price.

I thought that was important. I think I said that. Do you know me? Yeah, that was you? Yeah, that was me. Oh, nice, nice man. So you think, well, Shani, since it was your point, why did you say that?

What did you mean? Well, I went to the, what do you call it, it the AGM that was my first AGM pulse and hearing Kingsley Cooper talk about the stock price over the years the historic how pulse have performed over the years and how they were the best performing stock in this year and that year. You can tell it's something that, you know, he really likes saying. And he likes, they like to put it in their reports as well. Yeah, man.

You always say Pulse was the best performing stock in this year and that year. The stock splits over the years prove that, you know, they see the stock go up to a price and it gets stuck. They want it to move more. They want their shareholders to have more value. So they split the stock so you can make more money off of it. As soon as the stock go up and it stagnants again, you split the stock again. Yeah. So that to me was evidence of them actually caring about how the stock performs

and that's not what every company does because to me that make you realize that what what's real to you is real to the top owners of the company exactly i own you find with owners a lot that the shares are more often just yo this all control my company if i have this amount of the company then this is what it is to me you don't find much owners capitalizing on actual the value of the company more than just okay the company pays me this every month or the dividends from the company. A lot of them, they're very far removed from the actual situation of the shares. Yeah. To you, your interest in the company doing well

is my dividends and my capital appreciation. And you want your dividends to be growing over X period. So you still have investment in whole, you have a vested interest in boy the company doing well, but it's very often a different reason than the top owner of the company. And we've always rate companies where the top owners understand where I'm coming from

and have the same view as me because boy, they're working towards the same goal in that aspect. and have the same view as me because boy they're working towards him going that aspect yeah that is amazing it's like when him cost me is for how much is thing there but uh how much amazon is worth or whatever thing there is working to him and he realized that he's this man is never selling to assert he's never going to be selling to us beyond a certain point right because guess what amazon it's so his share what his shareholding amazon is doing it's his control of the company if i sell and then this next one own more own too much an income give

me talk and and no i can't my vision of the company starts stream because what i say next one of our voice over me it's not out. So, his network is a consequence of how he views his company or really his control in the company. He just goes, this is the thing I have because I have to have it with control of the company.

So, no, no. This is me rambling about things as young as they are. But tying it back in with the company, which is good. I don't see any way that you can go around just the fact that Pulse is exciting. So I think we all kind of like how Pulse feels. And I think they have more exciting things coming and i like the fact that them like like shanice and shay say they care about they seem at least to care about the share price and they have not many sorry no you go ahead shanice now saying they have some acquisitions

coming up as well oh yes yes they did say that um they said that they wanted to make an investment into irid jam is it irid jam i have that right in the tri in the tri-state area who later on came out with um another thing she you were saying something it was it was similar to what chan was saying um where and you said it the other day to where you were saying that they've only done like one of the things that they said they were going to do so you know there's definitely more coming yeah man coronavirus interrupted them as far as I'm concerned. Mm-hmm. Boy knows times that's... Again,

this went so close and far removed from other people's realities. But boy, that's the big thing about me the most about Corona. About the opening to other companies that just have to stop right now because of what's happening with it. Rough.

Hmm. One of my things for Pulse though was seeing that they cancelled Caribbean Fashion Week and I know that really contributes a lot to their TV side which made them which was a big part of their revenue for last year. Yep and a big part of how they market the models yeah it's a good thing they diversified into real estate but you know how things are going on for that but you can see right now what's happening with it's open by the economy so that might not be a bad move's not a bad move for Pulse because of the way they rented

their Trafalgar location. The place after Trafalgar Road. Yes. They didn't remember who they rent to. So they rent to salons and business people are rented out.

So if the business opened back, then they have their consistent income. They had given them a blight last they heard from them, right? They had given them a blight for a certain period. Imagine that. They gave them a blight in the March quarter and look at the numbers for March quarter.

Right? And revenue still went up. Regular non-investment property revaluation revenue still rose. Still, what's this? Almost doubled. It went up from 65.7 to 114.5. So 74% increase.

Yep. I think I said it earlier. I definitely said it earlier. I don't really like diversifying too much, but I love what my company is doing because they're lessening the shocks across the board. So, I'm having one sector, then the other sector is covering it, and we can see it's happening right here.

Exactly. We give the renters a buy, and we still make more money. So, the renals will be coming back online very likely right now so here we are that's right glad for said that um cse 2000 i don't know if we said it on the episode did we don't i did we speak about their latest results uh they said, boy, them rough ways with every time things are supposed to good now, then the next problem. The road works,

as road works free up on them, finally it's back to, okay, let's go back to business. Go around the world. Yeah. On cue.

Exactly that. Right. That's Cardi. Yeah. And, the boy, as much as it, I still say that, come on, guys. People aren't walking on the road and going, hey, you know, we should buy an AC. Yeah, that's not really what's happening. So, you know, not to say that it hasn't impacted them.

say that that didn't that is not it hasn't impacted them what I was looking for was their gains from that construction project that they were supposed to be involved in but I don't know how that going now because I think it was a hotel right you know hotel or a sit-down or something like that yeah so I don't know I don't know I don't know that businesses are doing AC maintenance or installations during the coronavirus period either kind of you know you're from home then boy if I go buy the AC they sell it brother doing AC maintenance or installations during the coronavirus period either. Kind of. You know, everyone from home, boy, if I go buy the AC, they sell it, brother.

I'll come and sell me my AC. And burn my light bill. But up until January, up to the end of January 31st, they had made a profit of 1.3 million jamaican dollars versus the year before yeah that made a loss of 37.7 million so csc and i think it's great for the people who are interested in a longer-term hold while speaking with their licensed financial advisor,

which I didn't tell you guys in case you don't know. Nobody on this show is a licensed investment advisor, and nothing that we say here, especially because we're talking about stocks, live stocks, is actual investment advice. Speak to your investment advisor about anything that we say here. This is not investment advice, all right advice alright boom out of the way MPC than I your company they drop something April 2nd actually yeah yeah my dad dropped

something April 2nd and what what April 2nd they had dropped their results up to December 31st but anybody else feel about MPC? it's a bit late though yeah and you know MPC always, they're more, in my view, more a Bayesian company. Yes. Because of nature. Because when I'm getting to us, the company we own invests in operations of a company across there. So that company is closer to the actual companies. That company invests in companies. So that's actually the closer one.

Where does that vehicle to push money into that company? Yeah, but even the thing that the vehicle is Bajan. It's Bajan and the vehicle is Bajan and the actual fund is Caymanian. Oh yeah, I get what you're saying. Yes, we just have it. Yeah, I get what you're saying. Definitely. Agreed.

Yeah. Oh, yeah, I get what you're saying. Yes, we do have it. I get what you're saying. Definitely. Agreed. Oh, this report, do you have it open? Phil? Yeah, you have this one open, Phil? I do. The income statement answers a question that you asked this week, and I did my usual core one that did not respond really so who are you requesting questions he was asking about jmnb and how they will book dividends

the sort of game the, the gain in associate and he was wondering he would also book dividends from SFC while booking the gain from thing there. Because they have received two big dividends. MPC before,

they were doing a different accounting method. So they weren't booking the share of profit. They were booking the movement in the value of the asset. So the asset grew, so they booked more profit. But with that movement, they

had some issue there and they weren't booking the dividends. So dividends were getting very cash flow. Right. So you weren't seeing dividends in the income statement at all for some reason and they changed over to a new method so they're now booking the um investment dividend income as well as a dividend income so you can see the dividends as a material source of or profits from the company yeah in front of you dividend income and gain on a gain on investment and they see the company as an associate

what an associate they own 60 odd percent of the site work because of how they think they're because they don't they don't consider themselves a controlling interest in that company. Okay. They are not in there. So it's investments in associates and joint ventures. Okay.

They describe it as a master entity with a master feeder structure. If they did book this as a subsidiary, then we wouldn't be seeing a dividend income. It would just be consolidating the fund.

If it was a subsidiary, right. So this way, we're seeing the dividends we get from that company coming into MPC, the company we can own, as well as the share of the profits based on how much of the company MPC, the company we can own, as well as a share of the profits based on how much of the company MPC itself owns. Okay. But bringing it into, you mentioned JMNB, are we not going to see the dividend

income from JMNB? Because JMNB does consider Sagicor Financial Corporation to be an associate. Exactly. So since they both see them the same, I'm saying to Philip that this is indicative that we will be seeing dividends from SFC in thing there. In JMB's

financials as a revenue item. So, it will go straight to them bottom line, basically. Quite so.

I haven't, I haven't, I haven't got too deep into it because I grew up, I did talk about it. So the grow up people listening know exactly what my thoughts on it were. It being JMNB and their future. So MPC, the only person, unless anybody else has something else to add, I'll ask Shay how she felt because she did mention that this was her first okay still a shareholder yes I still have some shares I did the I did the APO and sold some so I made a nice little money off that

because that was what 200 and odd dollars and they were selling at like 145 or something like 150 140 somewhere there so that was nice nice you make some money off it

this is another company this is one of those companies that i i am hesitant to jump into because it does not yes it does not trade in very often so this is actually made a good money off it until it's come out guys yeah so what i have left of it isn't a lot but i don't know I look at the queue every day and I'm like yeah I don't know I don't know I have to say it's the last one that I'm holding it's the last rich people company that I'm holding and I know you teach me better than this um but you know i'm no i don't know if it matches your goals you know if it matches your goals it matches your goals you know what it doesn't matter my goal it's a it's a rich people

company so you know so it's i actually looked at it today and i was like hmm this is the last one shay what you doing what's up so i don't know I'll see what the rest of the week holds to be honest I think people might underprice the dividends for this until they get a dividend that can't ignore that one because if nobody you can't see the gains coming from it

look at the PE on this if you haven't realized the PE on MPC is and the Jamaican one is 16.8 times six seven 16.97 times and that's on how much number so far so when when things come out and you start looking you get everything annualized and looking good then you might sell you might say his dividends are coming through to us that might be heavier than the usual two percent one person then the mice people start pushing to it because it's a good one to own for dividends that's how I think it will be well I mean

I like it I like it but I'm not in there but I do like it but yeah so it's too it does have a us dollar option too which is even worse right because the us dollar side of the market really don't move i think there i just i just showed my hand by the way on our earlier episode me you and ryan way there was a mention by one of you guys saying at least one of us got into npc this week before you guys saying at least one of us got into mpc this week before yes i would never said who it was yeah so you did tell the people so for the for the long term this was like shay i shoddy's and phil you guys know here who it was it was it was danai i did not i did not jump in i'm very wary of almost all us dollar stocks. None of the US dollar stocks really trades.

Yes. That's true. But the US dollar thing, I'm afraid I... Philip knows... Chinese knows how much I bother Philip about this. About the US dollar thing. I know, I know. Because... Okay, go ahead. And then I have a point after. Go ahead. I know I know cause okay

go ahead go ahead and then I have a point after go ahead yeah I was thinking about this US dollar thing and even yesterday I was talking to um I was talking to David and I was like you know the US dollar is so high up now I could probably jump

out of um one of them and still be up you know it's all the way up there and you know I'm always talking about my proven and my SCI so I was like you know I could probably leave

and still leave and be happy because it's that high uh huh word another way to look at it yeah man but my issues with when i said i said all that i said boy the u.s dollar shotgun so this year so with the to the u.s dollar thing so i bought the shares at 14 cents u.s it's and they're now trading at 20 cents u.s right i'm like boy that's a nice gain and then i see the us dollar itself i live in jamaica so i'm my real care i know is boy what a jamaican

compared to us if i can if i have in u.s i can sell it and make a game now because the u.s are shotgun right and then i look in that queue for my 20 dollar stock 20 cents0.20 stocks. And the best price I see is $0.15. Because nobody really buying this thing. Or I say $0.20, but the volumes on it is just terrible. I can't exit any significant portion of my thing of this stock because I put too

much money into this thing. So the trading on the US is really daunting to me. I prefer really daunting to me i prefer reading to it make the money into jamaican and don't worry about can i sell this thing yep look on the u.s owners or signals zero bits zero asks i'm making my dividend income i'm making one you find a lot of them they're not really looking at share price as a thing

to be moved we're recording this we're recording this May 19th and SCI USD although I don't know what JC JC's new signals layout is it don't make sense to me but SCI USD according to jay trader the last

time he traded was march 20th and this and we're recording recording this may 19. this is almost two months later yep yeah imagine if you in there you need to get a thousand dollars out immediately. I usually pose that as the emergency situation. Very often I either take a heavy loss, so the money I made and I still have $1 million in signals, and I really need to get out. I need a million dollars. Can I use that $1 million? Yeah, that's a real consideration. Or can I even make it? Exactly. I'm not going exactly play with that one yeah yeah and a lot of people them start trading more than boy go ahead now you see me with you

trading it but right now i can't trade it so i'd rather not yeah so john jackson's i guess john jackson's i seeider had an article out today and his article is saying JSC US dollar volume doubles. He's saying that the trading on the JSC's US dollar market on Tuesday was twice that on Monday, but with fewer active companies, which caused the index to drift down so here's here it is four securities change hand change hands today with three declining and one remaining unchanged right i mean and that's that's different because the day before seven securities had traded but i guess the unit count was lower so yeah you're really not looking at anything too too heavy and really his first capital first rock capital that 7 000 units coming out proven had a nice little bit of trading and

signus also had some nice trading um and and obviously well if he's seen signus trades and i'm not seeing it on j trader that mean that he is seeing something more than I am, which at this point, I can't tell you something with JC's website. Something is wrong. Well, I'm probably looking at the main market. That's why it is. I'm probably looking at the main market versus the US dollar market. So what they do is they're renamed how the shares are. So SCI JMD has both a JMD version and a USD version, but both are called SCI JMD.

Yeah. I don't know how to go on this one. I thought it was a mistake. It's persistent. I'm not sure. I don't know. Maybe it's a deliberate thing, or we just don't understand it.

Yeah. Of of course you can tell from the um the news release that jsc put out on their their news page on the front site to have us understand what has been going on so you can read that if you want to know what it is about yeah yeah um it's actually all messed up on the um on the jc website because they actually have the price of sa usd today as 13 and six cents yeah it's something i'm really not sure what's going on with that. And it's been like that for a while. Yeah. Crazy. Well, I don't want Kostya to see no more on this show. They either improve or they won't.

So, let me jump from that to the exciting one. Key Insurance. Yes. So, on April 14th,il 14th key dropped um what are these unaudited numbers they are unaudited numbers which is up to the 31st of december 2019 right um and then well no this is earlier so before oh sorry so so now we now, we're seeing audited numbers, I believe, which came out, what, today?

Yeah. And there's an increase. There's a huge difference, right? Very often, the report comes out, and it looks nice, and then the audit comes out and it's like, oh, you know. Yeah.

Different situation. He was the other way around yeah he was what coming so it was thing there they were not it was boy i don't know although we expected we didn't expect much from kiwi had a net loss of 470 million in the last three months which is 769 for the year end 769 million loss year end

in the unaudited and in the audited it came out and things were a little better much better a lot better move from a lot better a lot better it's weird sorry move from a 769 million loss to a 256 57 million dollars you guys know what the cause for the difference is and i have ran through it as yet but you know i will yeah so i mean you know i will also but it's a fresh fresh loss um i should state because i know

a lot of people saw my tweet about buying into key and a lot of people went in um and of course the price flew heavily i mean at one point it was crazy before i tweeted yeah which was kind of why he made the tweet exactly exactly so but it was very interesting to see the effect of that and it has fallen since right I think today yeah man halted down a couple times halted down to 580 today yeah

580 but I didn't say that I also bought key they never touched 12 yeah I think during the day I think I could be wrong I also bought key. Did it touch 12? It never touched 12, yeah? I think during the day, I think. It touched 12. Got a nice-ass runoff key still, so I'm not complaining.

Yeah, I can't complain. I had some fun with the key as well. I was there. You went in around the same time, right? Say that again? You went in around the same time, right? I that again? I went in around the same time, right? Pretty much, yeah. You're talking from last year, though.

Yeah. And it's now, it closed today at $6.39. And it is set to, I mean, it doesn't have the same level of buying interest anymore. And I see a lot of people selling it. Yeah. So you're only nine buyers in the queue from a higher $6 to into to a low of

$3. What do you think the interest rate? I think it's, you know what? I don't know. I think a lot of people saw the hype and it was flying. And then the, the,

the sort of hype spurred by gk's the the delay with with the gk announcement so gk the announcement and i think you know the market is slow it take time for that sort of thing to catch up so it started to fly after a while then worse i got tweet about it and and show that i had actually um bought in and i think that might have sent a lot of people who even though i said don't do it they're it, they still buy if they see me mention something. Or worse, if I say I'm actually in there. And so a lot of those people may have run in and bought also. And I think also people like me and you and Top Striker, Sean and Danai and Phil, where we buy in and our buying in does move prices up.

As also our selling causes prices to come down yeah um and i did i did think a lot of that influence has to come in there but the things i'm excited about for key just simply hasn't happened yet yeah it's all about the gk influence i know people are saying on twitter i saw a lot of people saying you know it's so funny they're like you know maybe the gk there's nothing under like, you know, maybe the GK, there's nothing under the fundamentals to cause it to be bought and people to be buying it as much as $10 or

$11 or $12 per share, blah, blah, blah. Which I can hear you saying that but fundamentals don't talk about something new. And they're like, you know, the only thing could be the grace factor. But that in its own is not a reason to buy it at 12. but interestingly so i think there hey you are the use of the word fundamentals in the way it is used it's they used

as so what are fundamentals it's not just accounting or whatever or not just whatever account print out in front of you. To call something fundamental is to say, this is a reason for whatever value is there in whatever company, right? So you're finding a way to derive value. So to omit supply and demand.

I say to these guys, every economist knows supply and demand in class, but when you come to the stock market, you don't understand anything for some reason. Which seems to be true. Yeah, like, how is it that you don't understand where something is wanted for whatever reason, and people are willing to pay more

to capitalize on that want? I know value is higher because I want it for whatever reason. The valuation is subjective. So whatever the fund, I can't knock that as a fundamental to say there is heavier demand for this stock. People want this more. So there's likely a movement to come from it

because people want it more for whatever reason. Something is happening with the company and I'm willing to buy it higher. I'm willing to buy it. I i'm going to buy i see that seven dollars and get soft for whatever reason i think it's worth seven dollars or more i think it's worth ten i'm not buying that seven when it works seven so i see that seven i want that i want to buy it i want to say it at ten so i buy not say ten dollars for seven dollars and i yeah we have more similar people and these people just keep buying into whatever because they value that stuff whatever

price they're seeing right now so that's a that's real supply and demand and that's the effect right so it's moving it's moving based on some somebody that's happening for every single time it's moving because somebody is looking at you now and said that is undervalued they can run. Yeah. But if you sold it, you sold it. You got the money. That money is real. And the funny thing is, if you go back to more fundamentals, go back to what the typical consideration of fundamentals is, if people say that they are more say that they're more interested in you know a good balance sheet a strong balance sheet you know a growing pnl you know a healthy

cash flow and key obviously didn't have those things before to an extent but grace bought them yeah so why would i why would i who am i to say that the person buying it at ten dollars isn't saying yo grace has bought them grace has a crap load of money decades and decades worth of money and they have stated openly that their plan is to recapitalize it and make it healthy right who am i to tell them that that that buying it at ten dollar might not make sense and they are they would be in their rights to laugh at me if grace does even one or two other things that they said have done turn it around and all of a sudden the fundamentals in maybe let's say 10 years the fundamentals are showing it as a hundred dollar stock they would be right to laugh at me to

say that yo when it was at when i was buying it for ten dollars you're saying as an idiot look at me now yeah right yeah fundamentals don't what the typical understanding of fundamentals does not extend itself to it as you're right to the future it's looking i'm going to look at that 45 days or reports and say well guess what the company looked like this on this day 45 days ago and i'm no longer i'm not going to consider whatever is happening right now exactly within the next 30 days after today or what are that 45 days that we're gone so mom yeah yeah oh how is that not relevant to the conversation it's always boy the numbers say this you know if you look at it look at the past numbers look at the past numbers look at the past numbers you can't look at keys past numbers yeah not just not yeah exactly yeah you can't look at

just the past numbers you don't make that money exactly you wouldn't there is no there's no i cool bump before i cool that's like you saying boy you know what's that iKool bump before iKool. That's like you saying, boy, I'm newly seeing these iKool bottles on the ground every single where in Jamaica I've gone in my week of traveling to Jamaica. I've seen this iKool thing and I've never seen it last week when I traveled to Jamaica. And then you guys say that now, and then somebody will say, but look in the report, iKool never sell now. iKool never sell. Exactly. you guys say that now and then somebody will say but oh look in the report i could not sell no i could never sell exactly exactly you're not you're not going to be able to and i'm not knocking the numbers i hate i have to say that but i realize now that yeah people i have to say yeah

for some reason you saying boy it's not only numbers means it's not get rid of the numbers yeah it's like anything i say seems to hit people more than anything right we spend a lot of time in the numbers that's right it's part of the the the the basis that way it's part of the actual fundamentals that we use when we're predicting how's our company shanice then I was just cutting you off. Sorry. No, I was saying fundamentals on a whole is a very broad word. It doesn't just take into account the numbers. It's what's happening in the environment of the company,

what's happening in the industry, what's happening in the economy. But when people talk about fundamentals, they really just look at quantitative analysis. They put in some multiples and say, hey man, I eat this. The company is worth this because that number said that. Exactly.

You can't tell me otherwise until the next report comes out and then it might all change. Yeah. You're always wrong until you're right. Exactly. I'll say it plainly. The industry for so long forgot that its job was to predict what companies will do and predict share prices. That there's an entire generation of people in the industry that does not know that that's what you're supposed to. And they look at the people who ask them to do that as strange.

That's why speculation is a bad word in local investing because there's an entire generation that didn't know that yo your job is to speculate you're supposed to be able to tell me what is going to happen with the share price and this company in three months next quarter which is why they have quarterly reports and you can yeah and you can tell this because you look at every single other market around the world and that's what their job is to do now i'm not saying everybody has to live there but the industry has to live there and in in jamaica i think the local industry has done the equity market at this service in terms of its bringing it to the clients customers regular man on the street man and woman on the street and having them understand all at its worth they've shown it they've said the equity

market is there and we can help you in the long term and i'm not saying that they shouldn't say that but i think they literally just don't know they don't know that they're supposed to be able to do that like the things that we're talking about we should be able to sit on their underpants or underwear sorry ladies or underwear at home and and come up with these things and the people who are being paid in the offices aren't able to come up with it and also speaking against people who do it yeah that should not happen that should not matter yeah i don't i know then i was going to say something but she you're going to say something else well i was just agreeing with you and adding that i think a very clear sign that something is wrong is the fact that they tell the same thing to people who what regardless of your your risk appetite that's a big thing i'm like i'm like so i my risk appetite is ferocious. I have no dependents.

I don't have a lot of responsibilities. So I can play. You know, I can play. So why are you going to tell me about safe companies that are probably going to do a little thing in another three years? Or it's like, you're not supposed to be telling me about that. You're supposed to be telling me about what I can do since I have this risk appetite. You know, what am I able to do?

It can't be the same for everyone. You can't be telling everyone the same five companies. Everyone has one play. So everybody in town to get that one play. Yep. Your signals, you know, you signal to understand your business model signal sees their their their their intimacy financing so it's such a industry company or say signals is their business model is hard to understand I can't then tell me. So, yo, brother.

If it's hard to understand, you're the guy who's supposed to know it. Tell me, no? Instead of telling me it's hard to understand. That must be why I'm embarrassed. That must be why the CEO had to start doing them videos. Them videos on IG explaining what Cygnus does. Yeah, boy. You might as well tell him why.

Yeah, I can't knock it. It seems when I did do that when sagicore financial it just not financial when sagicore select funds it just start and they did the financial fund and i wrote on every mickle explaining how i saw it and the overview and everything the amount of people tell me i'm wrong you don't want them stop talking to me no and i don't know these people they're just on on Twitter. And after a while, I started to say to them, we will see. And then I remember either a little after them list or a little before the list, Sajikor themselves had a note on JSC's website explaining what it is. Because I tell them, people, guys, it is not the typical fund. They are not going to be buying and selling every month or every week trying to balance things.

Once they get it, they want us to get buying and selling every month every week trying to balance things once them get it then one just get it and leave it yes them can make some little decisions with the with the dividends and the cash and whatever and then can make some decisions with the timing as to like yo let's not buy into this yet or let's buy into this later on and if you follow my little idiot value pay attention to what they do for money thing then you'll understand why they do some of those things but at the end of the day once a man then buy some shares that's it it put on if a good bad or ugly then they'll care which is a good point like i'll use that to segue into select f because they released their numbers recently right yeah and it was not necessarily very pretty it was a strong loss i believe yeah man 1.4 billion

yeah to be honest if i find somebody i got vibes from somebody's thing there their commentary on the fun type companies thing there their commentary on the phone type companies so i select f it was seen in a bad light because the numbers said this but in my head i look at the actual index on the very the very last day of the reporting period i look at the actual index and i can say boy select f about take a hit but for some reason a passive fund boy select therefore take a hit but for some reason a passive fund is doing terribly or because they the index they follow is falling what yeah i think they don't really make sense they don't it don't make sense weird

we know what happened exactly so how is it how it becomes why you know say the money feel better rubbish there's no surprise i mean and if you look at things they require it again qw and qw i yeah come on as much as them pass the aggressive thing there's all this home there's only so much you can run so much money you can move if If they leave us, that is a tank. Exactly. Before they even go to exit, everything. So I have 100 million of X, and I exit 30 million and the price is gone. That 80 million left, it's not 80 million no more.

It looks terrible. Exactly, because my 20 million tanked it. And on the flip side, that's why sometimes i have to stay stuck like i still maintain i don't know john jackson i'm supporting to him so i can't say but i can't say definitively but i i still think that access was a terrible buy for them and we are seeing it they're they're stuck with access so access still dropping access financial share price still dropping because as would be obvious to almost anybody who would have looked sensibly at it over the however long i mean access year-to-date access started the year somewhere close to i think 34 35 dollars and currently it's at $23 and it not stop drop.

All right. So, and in these fund companies, you're actually better off than a regular company because with these fund companies, the nav allows you to see how they are either as at yesterday or as at the week before. So it's like, people are like, oh, you stop hype QWI when them do this loss. I know there was a loss coming for the last two and a half months the nav has been so low that you know that yo they need to fix this within like a month or a couple of weeks and they couldn't do it three weeks before the the quarter done it's still not fixed and for them to think we can report and say man they lose money i'm like um but we knew that they lost money before yeah that's why you get in and out mje mje is different in the type of training they do because of the heavy buildings the svl

the portfolio companies exactly portfolio companies and svl so if svl falls by that amount sfl so if svl fall by that amount were you expecting anything different than what a comprehensive income different like come on like you know what's good i don't think neighbor has plans on selling sfl because of what svl means a lot to mj in terms of what the cash flow they get from me dividend income they get from me so yeah strong boy them should have sell out this was a thought was was your idea they should have sold out this veil and then wait until you come back up or whatever thoughts you had in your head about it sell it to who by the way exactly i think this guy named randy was buying all of it i wish i wish i wish i wish i wish i could just buy all of it and just leave it to go on hope yeah but you can't do that you just have to

work with what's there that's another example of a company where you have to be you have to look at what's valuable to the people actually owning it and what they're looking for because they may not be looking for what you're looking for because they may not be looking for what you're looking for yeah it's that simple and there's nothing wrong with that it's just about aligning yourself to that time period or their time period yep or moving out svl isn't svl's share price movement is in mayberry's comprehensive income and they call it dividends in their

proper income statement so it's kind of telling what they think what this value is there for for them exactly that's indicative of somebody who was saying yo i'm in this for the long haul but since you guys are here and we don't know how the fluctuations might work you will always eat off the dividends and i will worry about it through the oci exactly yeah if you if you view the market or we view the market from key well anyway let me let me jump to another one well what's our point saying from key well no what kind of what are they kind of move on to the select f okay all right cool yes yeah yeah there we go so we're rushing we're running it. Let me ask one of the ladies.

I'll ask the top striker first. Shan, which one of these results that came out recently do you really like? MailPack. MailPack, okay. MailPack. It was impressive to me. MailPack made more money this quarter than they did for their December quarter, which has Christmas, Black Friday, and we're having COVID. Hold on, hold on. And IPO.

Exactly. Don't forget that. That was a quarter when they had the most advertising ever because they were having an IPO. For real. that that was a quarter when they had the most advertising ever because they were having an ipo right and as expected the the share the um the profit flew during that quarter up to december and know them just report them latest quarter let me just update you with the numbers revenue for the three months first three months of 2020 364.8 million versus 361.7 um 261.7 in december i noticed that they compared it to december versus same period last year but again that's because technically meal pack group did not exist last year um january to march so they're comparing for no in 2019 that quarter it was 274 million nice what was the profit the profit was 60 million versus no one point you realize that

yeah somebody's checking the numbers right you know right right here tell me boy i wish i think that i wish that they wouldn't do this you know always see that's right brother um i saw it when i see that hold on prospectus no it was an article i see inside of i see into the aha where he made it up but the prospectus so what is this what is this craziness of why you know they've never really shown me nothing come on yeah it's right i'm gonna wait for the information is out there exactly and it's not hidden they're waiting for the spoon to be brought to their mouth and so i have to open them out and put it in right yeah industry is in a state oh my god but big up icy insider big up john jackson yes yeah yeah man boy i can i i have a

lot of respect for the frustration that man must have felt over the decades because he's been doing this for a long time. And I know how frustrated I am. So imagine him. And he's more of a fundamentals guy. He's very much a fundamentals guy. He's very much an accountant. And yet still, you know, the industry doesn't like him and he doesn't really seem to be in business. But they can't stop paying attention to him.

It's funny. Only if you want money. I know people that think they're really just to check his article and then talk on him. I'm like, yo, brother. You can't ignore the man. That's what I would say.

He's not checking your website. That is true. I have sat in a room full of people all of whom had less money than John Jackson and listen to them denigrate him and I also have less money and all of them put him down for him to know not what the market and just talk and at the end of the day

you got to check what he say and if him and i i tell the truth as i've said before if something is wrong in a prospectus or if something is wrong and i set up is him catch it and if him don't catch it if one of him are david if them two is past them big up jc night too yeah as a matter of fact as i said big up up JC Knight too. You know, he corrected me the other day, Danai, because one, he's been writing a lot of articles. I've been putting them up on Evernicle. Big him up for that.

I call it David's data. The data Dan. Yeah, quite the data Dan himself. And he has been putting up these articles with his research that he's been putting in. And I gave him some feedback the other day, and I can take it to heart, because the latest one is about palace and boy i don't know what the first two they're hard to read

in my opinion but this that this palace one boy the man really you can see him take it to heart and put it in it it started out so great that alone like the man say oh am i right in article and make sure i say it's sound good and engaging and explaining things it's just a start alone the start alone grabbing a man say as movies tell a story for the viewer to the center palace amusement company limited has been the company which is right all right thousands of stories over a big screen yeah man big up david for that one i'm doing a course right now and it's a securities course and we got this we got this question right and it was like a forum so you can see how everybody responds and one of the students actually quoted one of David's articles from every mickle oh yeah yeah he was quoted that's quote and they never that boy that is clothed

but JC never tell him I'm wrong immediately I'm assuming it's a JC course you're doing hear me fast and I'm loading you up I'm so sorry it wasn't it wasn't um it wasn't it wasn't immediately struck down no because she stated her reference big up david big up david keep it coming um but the reason i mentioned that was to say that david does spend away by time there and he corrected me the other day because he said something that then i is you are blaming for this are you supposed to catch when i get this thing wrong and everybody know i don't know what i'm talking about but david had told me that um i have said that ecl is a dividend paying company and they're tax free when they pay the dividends because they're they're a saint lucian company but

i believe he corrected me to say that they're actually a jamaican company and they are they have a saint lucian they have a saint lucian intermediary so they do pay taxes on that so i was incorrect so thank you david for correcting me I was incorrect. So thank you, David, for correcting me. That's okay. That's okay. Repeat that. All right.

Let me read his exact message to me. He said, on minute 57 of earnings season, never tell me which episode, but on minute 57 of earnings season, you mentioned ECL as a dividend-paying company whose dividends paid here are tax-free for us, I think you mean Jamaicans. ECL is a Jamaican company. Remember, Jamaican companies cannot be anything but Jamaican. So you have to be a Jamaican company, which is why the full tax break agreement works. There we go. And he followed it up by showing me a mandate, not a dividend mandate, but a dividend record um receipt and it has the tax yeah it has

the withholding tax on it so big him up for correcting me there i don't know i never stick in my head if you say it's probably in my head i know what's going on for some reason sorry sir probably probably well yeah it happens but that's just for anybody listening so ecl is a jamaican company and the dividends are taxed so big up everybody who corrects us honestly it really helps us and helps our listeners 100% yeah big up for that uh yeah so I don't know about the point oh yeah so Shan I'm going back to you yeah you're talking about mailpack. Why you like them? Yeah, man.

So, as I said, revenues for the March quarter was outperformed the December quarter, which I thought was very impressive because we know December is a really busy quarter for them. And the profits up 71%. Damn. Up almost? and the profits up 71% wait, up how much? it's up 71% compared to the previous quarter compared to March quarter last year oh ok, I'm continuing

no, no, not December oh yeah man, I'm continuing, do you think? wow, so compared to last year that's beautiful, so that's a junior market company. Doing what junior market companies do, which is why oftentimes, at least back in the past, pre-corona, they used to have high PE ratios because people were, the market was, exactly, that super growth. And that super growth has come for many of them. So we see them doing the same thing but to beat their own christmas quarter is a big deal at times in that time we're going through economic crisis they're beating their business portal yeah let me play because their business lines

they have some level of resistance to the economic factors that are affecting us right now though sure meaning you're talking about like you can yeah exactly this is no go ahead sorry exactly that so you see this is zero you find stuff like this this is a way for you to invest against current or in the current situation so you know a boy the full market most of the market being affected by something but something might be we spoke about where we say some things might be better off or maybe seen a boost in whatever business design from this thing right now this was mailpacks time to shine yeah in everything but share price exactly right because year to date they're actually i mean they're below they're one dollar they closed today at 1.85 cents and they started the year at 209

right before these results dropped no it was it was trading at i think it closed at 169. Yeah. And then the next day it shot up to 180 something. I think it touched 196. Wow. Wow, wow, wow. That might be a bit of short-term interest coming from the market there. Yeah. But it still trades relatively heavy enough,

a little less than a million traded today, and there's lot of trades i like that 33 trades today um and it generally trades pretty heavily it's a company that i know a lot of people have a lot of um a lot of hope in hope a lot of hope in in what it will do and at 185 no i still think that it's i don't know it's in a great place to me i still think i personally would mind by i would not mind buying it at 185 for me personally um and that's a p e ratio 14.5 times right which means compared to the overall market, 14.5 times. I think it's below market average. Last I remember, I think the market average was about 16.9 or 17 times. That's the figure I have in mind as well.

Yes. So they're below market and they're growing rapidly. And they have that partnership. The thing that I think a lot of people are expecting is that partnership with Price Mart, where you can get your groceries home delivered. Yeah. So they're expected to. And they just launched. What did they launch? There's something that people are complaining about.

What? There's something people are complaining about online or they just started it. Something about a grocery delivery at home and people are complaining that it was going terribly and then what I liked was the company's response which was pretty strong. They hit all the people up and I saw it from a lot of the same people who were complaining came back out and said, yo, when they called me and they made things right, blah, blah, blah. I like that. He's a fan of the Jamaican, you know?

At all, at all, at all. It's the Olympics. Exactly, it's just so it go. Yeah, you have a problem with it, so it go. Which is a typical Jamaican response, right? So it's not just for the first you see them talking about it. Which reminds me of JSC.

Sorry to beat up on a dead horse. But I just remembered that I had tweeted about the Cygnus thing with JSC. And they responded to me on Twitter to say that they're aware of the problem and they are looking into it. So let me give them their props. They had said that to me on Twitter

when I complained. Not on the website where everybody would see it but you know if you follow me at rt row if you attach it to my tweet so you might see it i had retweeted it uh shay you're saying something shay and phil yeah i was saying well i was saying that, well I wanted to say that the same thing that Shan was thinking, the same thing that I was thinking in terms of mail pack and actually did a top striker inspired move and got some at 160 and some at 166 and sold at 195. Nice. So that was fun. yes uh thank you for that um i still think it's a good company and definitely i want those shares back but

waiting for the excitement to die down a little ah i suppose excitement don't die down don't i don't know what to say i need these stills yeah when is price run attention span i don't know uh the attention span of the market it can work in your favor and i don't think a lot of people are paid because based on the numbers people really should not have already like lost interest or whatever it is that's happening that's causing it to go back down now. But they have. I mean, COVID, I guess.

I don't know. But them do them thing and I'll just do my thing. Yeah. You can remember this and everyone says real people behind the market. So I like to talk about how I buy and sell to pay a light bill. And it it's not because i buy myself to pay a light bill or my rent or my rent it's because i want people to know that that's possible yeah um and i'm not saying

that's for everybody at all as as what i like is that i hear from the people who have done it she and shanice and phil the same thing that Dan and I have been saying all the time. It's doable. It's not easy, but it is simple. And if you're willing to put the time in and you have a temperament for it, you can do it. So don't knock people who are selling too badly

because you never know what they might do. Maybe somebody's selling at 150. They buy. They buy it at $1,000. It's December. They buy it. It's not that long ago. Not even six months yet. Yeah. 50%? Yeah. Imagine you take your last $100,000 and put it in MailPack IPO

and you sell it now when you need it in Corona time. Something happened and you sell it 50% more than you bought it. Nothing wrong something happen i just sell it 50 more than you bought it nothing wrong with that nobody can't say nothing you pay your bills plus you have something left yeah suppose i borrowed it borrowed 100 grand all that too yeah yeah so there's always that feel yeah so what i like about the mail pack results is that they they um like about the mail pack results is that they they um the selling and distribution costs as well as administrative costs are significantly lower than they were in the last quarter not

not not march um but in the previous quarter the december quarter which means that there are efficiencies that they have achieved. They did say, well, they said that it had to do with staff costs, a reduction in staff costs. I'm I'm thinking that they have that perhaps has something to do with them increasing the for example you you you're putting your products on a vehicle you are you still have one vehicle but you have a greater demand for products that that one vehicle is carrying more products okay so the same salesman yeah same salesman with the same route but maybe more customers now right and he's being paid by the hour he's being paid same eight hours but he's taking it more article mail packing from the gleno April 1st April Fool's Day hey a mail packing new delivery deal with price marks I think all people so when I when I saw this

article come on I read it um interesting to me because new delivery deal is price mark I already know sediment price marketing so if they're inking a new delivery deal then there's something right now to say based on the situation right now we're working on so look at the thing there you look at what's happening so if what was happening there in him again before well you should be looking at this what was happening with it before and what's happening no if you look at the thing people what people's reaction to the article was what they wanted equal price mark so they were it seemed like I would say I think they heard about it I see people mention that I didn't post it

our sole purpose of you the ideas mentioned that all they have a deal price mark and people's reaction was they have a long time so to them it was there is nothing new here but if you look at the thing in the article he added that since the pandemic Mailparks local client base has grown from 700

at the beginning of March to just over 2000 yes that's a major move in my life and it's from 700. yeah almost almost almost 200 percent growth yeah so i think this is very it's telling you sure you should give it a look should be in the show Yeah, it will be in the show notes. I just made a note of it. And you know what stood out for me from that article,

from the people who can put these dots together, let me put a little bit on the spoon. They said that, notice the time when you say it came out. That's April 1. Yes. Yeah, and they said there's one specific thing that stood out to me, which obviously now definitely disappeared because I decided to find it right um it is them saying there we go over the past week they have hired 30 new staff and added five new vehicles to the delivery fleet yeah we talked about the

addition to the food yeah and then notice that thing there phil phil mentioned the field's mention of the thing there of what happened with the price with the selling and distribution costs and the stock cost so despite that increase in the staff complement and increase in the thing there in their in their fleet they have lower lower costs on that side which is business right there but i don't know if that's one-to-one because he did say within the past week and this came out april one yeah no man it's after the quarter closed that they bought the extra vehicles um all right but then you see i again it's a gleaner article so i can't swear for what said but i can say the one quote that also like was, since the advent of Corona, we have seen an almost fourfold increase in our orders.

And some of that has come from this enhanced relationship with Pricemat, right? So some coming from Pricemat, some just coming from the road. And I have four new vehicles and 30 new staff. That sounds like a new business line, right? Exactly. They go great. If you want to go down a pipe dream with me, when Amazon is entering an area,

they don't just enter it. They don't say, oh, we're here in the billiard warehouse. What they often do is they acquire existing players and then build them out. So we buy you, if you have a distribution network here, we come in, we buy your

company, assuming that you're open to selling it, and then we turn your company into a price mark. Now that's a pipe dream. I have no evidence for that outside of my, I guess, if we're in America, I'd have to give disclosures. I would have to say that I have worked for Amazon in the past, and I have

done work for the Norbrook Equity group in the past but not specific to mailpack but yeah it's just me looking on two things that i say yo this one match other and a whole heap of other dreams in my head and that's that i've connected so yeah if you want to buy in the long term, you go and ask your licensed investment advisor about the long-term impact of MailPack. And they're all saying the same thing. MailPack is great. It's the Amazon of Jamaica, blah, blah, blah.

That's hilarious to me. But based on what you just said, it's the Amazon of Jamaica. I don't think they're saying it in the right way. So what I hear them saying doesn't match up to what's what what's in my head what's in your head tell us look the full the full amazon i think we've spoken about this before everybody that making them everybody said well i'll get me a jamaican amazon so they get a website and then that's where it starts a website and say we're gonna order this for you and then very often it becomes type of a mail pack thing where you are a ship me type thing i can order things from amazon and bring into jamaica

it doesn't actually become an actual network because yeah one of the strongest price of amazon is the actual distribution network yep we need to get it exactly from here so to here so as quickly as possible so it feels like my business is a convenience versus what going to the supermarket or going to that store which is why anybody quote unquote death of retail because amazon that's why because it's just as effective as retail to other people yeah people leave it that boy i can order things online there's no vision of where I need to the body solution network that's effective across the island then you know you go in there with with much yeah matter of fact whoever solves the local distribution one drum is going to make a lot of money and if the evidence for that other than

my own personal experience with distribution locally is is that those who are good at it are the best career as an in-house distribution strong as hell I think red stripe you said it's being strong I sell and of course that the market leader we sink bird on that episode big up line manage water he pointed what was it than I 17, think yeah or 17 000 um contact points yeah man is this is yeah that's true phil yeah man he said that he said yes yeah man and then have it mapped down i don't know if we single have it down to the GPS, but I think they would. At Carreras, I know that we had that, and that is public information.

I don't even know if I'm still under any contract with Carreras. I can speak freely, but I always pause just to be careful. But yeah, they do have the same thing, and I don't believe Carreras was as effective as Wissinko. Or if they were, if we were at the were at the time we sink was neck and neck so it's the logistics is the wave of the future right it's funny it's not seriously distribution network could be i think there could be a type of thing for an amazon like company on amazon community Amazon community maker saying what I mean. Exactly. The fact that we have this laid out just makes sense.

And since I've mentioned Wysinka so much, I will just run into them because they're one of the companies that also released their numbers and they released their numbers um and they released

their numbers on the 8th uh oh yes yeah and they came out with that with well two two two elements for me right because we think a lot of us to know what's going on in panjam which was partner panjam jp i don't know how he's making that mistake how he's making that mistake in JP Jamaica producers and uh we did see however in Wissinko a drop in profit yeah net profit actually fell from 693 for the quarter 693.9 million for the quarter last year and in the same quarter this year is 580.2 um and for that giant to drop we know it is and they were very clear in in what this they said it was and it was um they said it was the coronavirus impact the the increase i can actually claim that yes yes yes because they're an fmcd fast moving consumer group so

for them use the example before on this show is i use the example of cigarettes if somebody smoked three cigarettes a day and today they never managed to smoke three they only smoke one they're not going to smoke five tomorrow i mean you drink two water tomorrow i'm only drinking one water today and i say on that type of thing and that's not right and that's not the case across the board and then remember their biggest thing there their biggest their biggest why quite again customers have been all the business so on schools hotels every hotel if you go all inclusive hotel you know what that mini fridge looks like yeah it's Wisinco products.

Mini water bottle. Mini water bottle, mini coke, mini Sprite, that's Wisinco. They also have I believe some Wisinco products on, I could be wrong, but on Caribbean Airlines I think they do have some and so obviously with the slowdown in air travel that might have impacted them. I could be wrong, but on Caribbean Airlines, I think they do have some. And so obviously, the slowdown in air travel, that might have impacted them. Yep. So to get this number, to only get a 20 mil difference. 20 mil, huh?

Yes, a 20 mil difference between now and not 20. What was it? Well, revenues went up 23% yeah yeah but profit and I said on an earnings per share basis that's 19 cents last year versus 15 cents this year right so then drop then drop 20 or 21 22 and a half yeah 21 and a half percent down percentage points down um for we think that's a big big deal right but to me that's also a good idea of what it is that they were capable of doing because they actually lifted it in the management discussion and analysis when it said tourism like you said than i but one major thing that we don't talk about is all other events entertainment

everybody yeah yeah everybody likes no sports going on entertainment activity not going on no sports going on, entertainment activity not going on. Carnival not happening. Carnival never going on. What was that? All right. Yo, the man didn't miss Carnival and only dropped by 20%. And revenue went up. I was surprised, though.

I expected it to be worse. Revenue? Yes. Yeah, the revenues and the profits. As much as every time I go to the supermarket, there's literally no one you can see every other water company you see some catching P my system lifespan water mm-hmm people I'm Russians the reach so that was an

indication to me of how much other market we think I actually capture one from time Monday but think there any my game why I never believed revenue would have fallen below last quarter. Below SPLY, it's because of Tingde. Same period last year. Somebody's about to DM me. SPLY, same period last year, which means the same quarter under review guys. Just for the newbies. Anyway.

If you look at Tingde, if you look at the quarters before this one you can see where the bumping revenue actually came from so they had new businesses online you must link up with JP until they start selling them more so yeah this type of thing they were they had a 2 million dollar bump in revenue across the board for them for things there there so i wouldn't i wouldn't expect it to fall below last the same period last year in this report uh and the revenue going up is just for i mean for us it would have been expected so the sugar know them the thing there the rum know and then the thing they know and then the jp things now so

the piece now so i i wasn't i was not convinced that they will be terrible on revenue revenue wise and they had built out a western warehouse wasn't it when i can't remember when that was what do you mean i'm not sure when that was either but like distribution wise these guys have it and remember that this would have included their stopping of um styrofoam yes corona just completely make us forget say at the start of this year 2020 styrofoam was just completely stopped right yeah and that used to be a 367 or 368 million dollar business for them in terms of last quarter um it was over it was a billion dollar business for them up to the up to last year so a billion dollar business line gone and the man them just keep going keep trucking you cannot yeah you cannot knock the power of us inca there yeah hear me out we think i might actually be the amazon of jamaica

i think there in my again i was looking at the there's a little company there's a company being started by i think William Mahfouz's son we were talking about this earlier i think one of the one of the Ryan episodes he he was a small shop he wanted to build out in other Caribbean countries a little shop type thing you can go in and get a quick food and when you look like a cook shop yes and no so you can get you in there yes our snacks we sink or snacks there's a lot of we think items that were in there to me sir okay yes that yes yeah so yeah three dozen our next move by with a next move that we have sister we sink or in selling and since they're going to other caribbean countries that to me that was a herald of touching the market with more

with single products so i have an export line will be coming in for them and they're not really start exporting it so i was waiting on that to see where that would go because it was basically a water into water so you got to bring that in water in train that in those little stores and they start the water going to train that more where it wasn't to a market stare then that type of thing exporting on a full scale so corona i think corona put michael put that on the strain so yeah that's a disappointment for me from corona before we see i usually let me let me let go one of the gems them let me go on the gems them all right we think i don't get things wrong and we think i make some money off distribution right so like this like we think it distributes as far as i know and it has changed recently for creamy completely different company but we think is who handles

their their their distribution and phil made a point earlier. You have the truck, you fill the truck up. The same truck, we're in the same place, but now I'm putting more things in there. So for the distributor, if they manage their spend right, that can also mean a great increase in value. JP Snacks that they bought into, JP Snacks distributes in Jamaica. But what they also do is distribute to other brands.

This is the gems that I don't usually talk about publicly. Caribbean, US, Canada, UK, Central America. If you go back and connect the dots, we hear William of Food saying very clearly that they're turning their sights on to export now then by 30 percent of a company that that exports heavily throughout UK Canada US Central America right if it's already yeah and Turks tell us tell us feel like you see it on the ground it's it on the ground. It's eat on the ground. So if somebody is good at making their money off distribution

and they know how to let me get there first and start going there repeatedly, and then when I start going there repeatedly, after I start going there repeatedly, I will bring other things there. And when you hear them buying into something that bring them to this many markets, how long do you think before the man and find something right i saw a tweet today talking about

um i want to remember the name it's a coconut water yes yeah that's the name of it j-a-not or janot janot janot uh wow wow um impressive oh oh because the picture of it i'm gonna look for the i'm gonna look for the um the tweet and see if i can throw it the box you look like coconut water man who was it that said they come in for grace markets abroad yeah i think it was me or soti they got me and so today was that the the janot yeah yeah i mean you can convince anybody of what jamaican coconut like tastes like abroad i can imagine yeah and if you're a jamaican overseas you immediately trust

i mean there's a level of trust that you have always seen that you might not have for uh for um anybody else yeah as i was trying to name that one company so I could type back a couple of episodes later with the Spanish one the name escapes me though yes I'm funny no touching on Jamaica brothers they're the ones who said recently the recent results where they had a heavy hit also one of the company principles is quoted as saying, thank God for our overseas sales. The US sales are saving them because Jamaica and Haiti beating them so badly, as it has been beating them for a while. Yeah. And boy, I hate it.

We touched a whole heap of companies there. So I asked Shanice for her company. Phil, I did ask for her company phil i did actually your company uh no not yet um what the phone interest the results i like was um one three eight oh one three eight students living 138 138 student living 138 so somebody one of the activist people is a picture of 138 student living

270 million in profit and the person said oh yeah that's it I was about to shake my head and I said Ryan, he commented and say, yep, and I've heard receivable from a certain institution probably close to 200 million by now, if not more. So in my head, Ryan said, you know, in a good way, as a boy company doing well.

And somebody commented and they still not refunding the student's deposit. Funny enough, what I said to say, you have a hundred million receivable we're very funny from they say okay you always you know not me yeah yeah I'm third and third the 70 million is you can look at it you can look at their numbers to see how much 70 million will do for them wow yes wow it's very important it's very interesting the anyone can educate the opinion on companies versus boy i feel this way about it but yes yeah exactly yeah i mean Yeah, exactly. Yeah. I mean, the thing that the expectation for 1-3 this year is showing up in these results, the whole of last year, essentially, they were operating at, they're putting up losses. So with what they're doing this year with the settlement of the agreement with UWI and getting the variation claims related to Irving Hall, you're comparing against a loss for each quarter. And you know, they increased their revenue from $211 million to $278 million. And the profit, the profit went from 95 million last year so that there actually was a profit in that period but it's 800 87 sorry 95 000. 95 000 uh for the quarter ending march last year to 87.3 million

million this year and compared to last year they had a small profit in the three months but for the six months it was it for the six months it was a lot March 2019 30 and I'm seeing a net loss of 45 million we thought sorry said again then I you looking at what was a beat that's my 5090 not money you see you're the nine you're getting the taxation number in the thing there in the six months sent it three months 2019 there were net loss of 45 men and off There were net loss of $45 million. And now they're profitable, 87 mil. Yeah, now they're profitable at 87 mil.

Quite profitable. I think, for me personally, I think there might be some value to be found in ventilating that agreement between them and UAE and whether or not things are still good post-court because we understood what it was at the prospectus time um i would have been singing on it for the years that they've been listed and i think that what happened is that the very first time that they actually actually had to pay again i don't know at all i just talking off top of my head here i think somebody somebody got rattled. What do you mean by we have to guarantee them 90%? That doesn't make sense. And of course, that's what you're supposed to do in developed markets, developed financial markets,

which is you sue. I don't think I should pay this. I don't think I should have to pay it. So I'm going to sue. Let the lawyers work it out. And so the lawyers have obviously worked something out and whatever it was, it seemed to be like everything good everybody happy now they're back at the table and in the last set of results I see the reference that actually I heard I hear to speak

about the fact that they had up to March 31st I think 99% correct am i imagining that are speaking up a top of my head here I know it's there it's in the mdna yeah what was number 99 99 is what i remember but i could be wrong you have it yeah man average occupancy across all three halls for the quarter was 99 which means you will never have to dig in the pockets for the more than x to reach at 90 percent however in the next on the next page on the next page they did um speak about the 90 occupancy guarantee in saying that the turn of events with the coronavirus um will no doubt affect the revenue of the business.

However, the impact of the long-term occupancy revenue is mitigated somewhat by the concession agreement, which provides a 90% occupancy guarantee. Yeah, straight up. Which is them saying, yo, don't worry. We're not at all. It's literally on the next page of the of the march um of the latest results than i which i just sent you a link to it

literally in the mdna yeah page yeah the first one if you're looking on the actual pdf you're looking on the one that says page two but it's actually page 4. Oh, it's not searchable. Page 2 is not searchable. That's what I was saying. It's a picture. Yeah, the usual thing. Send a PDF of a scan of a picture.

The first page, you can't read it. The second page, you can't scan it. Which might also tell you something else, yeah? Yeah, it might say something changed uh-huh yeah interesting to me but that's an assumption yeah i want to know if it's actually shame if i remember our conversation around this last time we didn't i feel like we didn't we were looking for we'll be we were worried that that yeah 90% Force majeure yeah

Yeah so I feel what you're saying right now is that the 90% Will work out for us That's what it sounds like to me Read the exact line please He did Sorry So the

Alright so the Pandemic has resulted in students being asked To vacate the House of Residents, resulting in our occupancy being reduced to 25% in April. These turn of events will no doubt impact the revenue of the business. However, the impact on the long-term occupancy revenue is mitigated somewhat by the concession agreement, which provides a 90% occupancy guarantee. So they actually admit that after the quarter, they have had a fall in occupancy, a big fall in occupancy to 25%, but they're good. Yeah.

I wonder if they say it's a long-term occupancy yeah exactly wording and the fact they mentioned that will be it's being reduced 25 these are events will no doubt impact the revenue of it so you can all that is it we will the impact with a 9% of not having 99% anymore or is it that they're saying the long-term occupancy revenue will be is very different it's different from from from what quarter so are we actually getting a 90 in the next quarter well we don't know but going off the prospectus based on the prospectus it said that and i'm quoting from the prospectus here, under the concession agreement,

UE has guaranteed 90% occupancy of the constructed units in any 51-week period for as long as the concession agreement is in place, which is contemplated to be a minimum of 30 years and a maximum of 65 years. All right? The wording is still iffy to me has guaranteed 90 occupancy of the constructed units in any oh yeah no that's straight one week one year so what i'm thinking is that you will you will they build a receivable line so basically whenever so if they make 25 occupancy for every every everything there every quarter for the year or every period for the whole year about 25% occupancy a new week

comes in okay 51 weeks and say all right for this period we're supposed for this period we're again we just come give you about a 90% worth which I think in the long term is a talk, so basically if next quarter they have 25% across the board for the next quarter which is this quarter that we're actually in

so we'll only be seeing the thing there the 25% in that quarter but at the end of the year you'll get step in and say okay you were supposed to get you're you're we're guaranteed we're going to fulfill our guarantee and give it a 90 percent difference up to 90 percent which would be 65 i don't know if it's one big payment it might be quarterly we don't know i don't know the breakdown I don't know if it's one big payment. It might be quarterly.

I don't know the breakdown. But basically, they're due a certain amount. The bill you always due kicks in at that point. They review it in 51 weeks at a time. That's what I'm thinking. So it might work out for them. It sounds good to me. But yeah, there is still some ambiguity about the wording and it's some change but you can work it that way no because i think if we reference if we cross-reference ryan's tweet

and if you look at the um if you look at the actual look at the actual results yes yeah because that's why he said that's why he said receivable. Receivable. So that might be the receivable line because you is due to pay them. And we should remember how the claim's right now. So how much of the claim, the total claim incurred comes right now, come to. Because if they have a 200 mil receivable line from them and then they have more than 200 mil claim that my brother claims comes from that might be where the thing comes from yeah so we'll see what receivables looks like at the end of next quarter which would come out um is this their first this

is what the last quarter this is the third one this is the third quarter. This is the third quarter. This is the third quarter. What would be the third quarter? The second quarter. The second quarter. March is the second quarter. So we would get these, the next ones early. April, May, June, I would get them by August 15th, middle of August. So that earnings season we will know how they

are things work yeah or or if or if I'm a lawsuit if I lost would happen before then but I hope not for the lawsuit I hope I hope that things are worked out but this is this is the kind of real estate that I can get behind yeah yeah wow yeah um and the 138 sl point i know i never brought in shea but i will bring her in now for her to tell us what her company is or did i ask her already am i going am i getting no you didn't you didn't ask okay um well first of all i also like one three eight i think the next uh the next statements and etc statements will be important in how people feel about the company yeah it will because yes they're going to get this money but are they going to get this money on time I don't

know about that I do think they're going to get the money on time i don't know about that um i do think they're going to get the money so that i i i'm not worried about that i think they're going to get the money there's another part of the prospectus that i read because when i read that part that you read i got what you got where it was just i don't know it's kind of up in the air. What does this really mean? But there is another part where they go into saying, you know, something like the income, 90%. So it's not 90% occupancy. That's not where it ends. It's more of whatever you would make if there was 90% occupancy. We're going to make sure you get it basically that's kind of what it said so there's another part that says something like that i don't

remember the exact words but um that that's kind of what it said um yeah oh i think i think i think i think we worded improperly because when i said said 90% guarantee, we're not saying you is guaranteeing them that they have 90% of, they fill the whole 90%. They guarantee the money as if they have 90%. I think we're talking about what we're saying. So, one point there. Yeah, so there's that. That's a good point.

It's not about the people, it's about the money. So, basically, if you have 25% occupancy, you're going to say, all right, we're going to always treat you about the money so basically 25 occupancy you guys say all right we're going to always treat you as if you have 90 occupancy you come to our pocket or a student's pocket right so there's that my my my favorite one this this uh season is not because of how the price is moving or anything like that but it's because of when I chose it because I chose it when when I wasn't very experienced I chose it like last year this time or somewhere here and it was separate that I chose I chose it because they were about to get rid of that sugar arm I remember

saying something like well if you're right on offense you chop it off or something like that so if they're if they're making money over here and they're chopping off that part that's bleeding them them their money then it it's gonna be something good right i also looked looked at the acquisitions and their plant thing over there and i was like okay i like this so it was basically just reading news and it was reading news from maybe a year back and just coming all the way up to last year this time. And that's why I chose them. And I saw the results and I was like, what? I did it. So it was kind of, that's what it was about. And it wasn't about just the numbers. So it was about, I chose this based on my little reading of news. I think that was that was cool that's why they're my favorite right

now but I do think that they have they have good things coming for them well they just reported their numbers yeah in front of you yeah. Yeah, so three months ended March. I don't have the percentages. But it looks like they doubled. Tell me the numbers and I'll help you. Yes, go ahead. Tell me the numbers and I'll help you. No, I didn't.

Just tell us the numbers and I'll help you. Sorry, I'm just trying to load it myself. Portrait in profit. Which one do you want let's keep it simple revenue um yeah so last year it was 311 uh million and then this year it was 632 um so there's that so I'm looking at that and I'm like, this is the first quarter, I guess, where they're not dealing with that humongous loss

from the sugar arm. And, you know, it's looking like this. So what about when they kind of balance out and really find footing, you know? Wow. and really find footing you know wow um not not just all right the sugar arm is the thing that people have been talking about from long time anybody want to speak on that speak on it say what has been said already yeah i guess yeah sugar sugar been terrible for Sephora.

They had some heavy losses from it. They just couldn't think there. They tried their best, honestly. They've been having it for a while, and honestly got the sense, as Randy said more than many times over on this podcast, that it seemed that they really wanted to keep it. Yeah. When they started talking about it in a certain light,

that's when you could see the change of, boy, we're working with the sugar thing. when they started talking about it in a certain line that in a certain light that's when it you could see the change of why we're working with the sugar thing working we're trying to bring its profitability to what i should be with this yeah yeah pandoy pandoy spoke about it where he's pretty much saying that um he was pretty much saying that you wanted to try it, they really tried with it and then they just realised they had to close it and then they're asking the government to help them to close it the right way and to make it a way that it won't impact the company too badly

because they're trying to have the impact of the company be minimal so that they can keep helping the people associated with it and move people on for other projects and I realised that recently, I don't want to guess but recently he tweeted something about it being done like it's done i think that was probably the title something like that

i know there there was a time when they were trying to work with the government trying to do the first i think the first ass of the government was hey you need to make this more efficient for us I need to find a way so that sugar is more efficient in Jamaica so we can sell better I think it has to do with was it yeah I think was some price on overseas you, something like that. I'll find it and share it. But there was something they were trying to do. And Grundy? No, I think it had something to do with some sort of protection that they were looking for.

They wanted some protection, protection of the industry from the government. And then they were asking if they could at least consolidate the losses into the group and get a tax benefit across the group from just a sugar company. And I don't think that was, they were forced to come in on that. So basically the sugar was getting a loss and they wanted the tax credits from the sugar to go up into the group so they could report tax credits and get tax tax tax write-offs in the larger group from the losses in the sugar which would make sugar basically more efficient the group itself more efficient i'm not sure where that went and then the last i heard heard of sugar was all right so we're done with it closing it out and that there was something with the government i think my my calf would come into this card had to do with um coconut we're repurposing of the sugarlands

into planting coconuts i remember when i said the largest shareholders is coconut industry board so i think that's where the scenario was that's true make it which is government which is government so they were yeah they basically found a way to make things work yeah yeah i think there's something about wanting to move um certain value yes some value yeah man the value the value around the group you mean the tax the tax right now i think and there was the next thing they wanted to partner with the government on how the coconut itself, the coconuts reaped from the sugar land, how it would be sold because there was a thing

there, they were looking for products. So coconut products from whatever the government does with that land, so like coconut water likely, coconut milk, something like that, separate will be pushing coconut products from the thing there, from that. I'll try to find an article and so whether report that was that that was the last I've heard of what was happening with the sugar lands I know in part to the company time move to move this loss of four books it's lost making entity they took some heavy losses again from that type of thing from the closing down because they still

have the thing put on there and they have the life right again the workers have to get paid off and everything there so yeah i know they made some heavy payment trust me they wanted they wanted yeah they wanted some write-offs and um i believe the the the actual thing was the article, the Gleaner article I'm reading where he says, sugar is done finally. And this came out May 13th. And he spoke clearly, he said that we still have the factory and we still have cane in the fields, but PwC, which is Paris Waterhouse Group, is managing the divestment of the factory. So there might be an opportunity to still make a little bit more money from it.

But in terms of the wind up and all of that it seems that they're closer to done i won't go too deep into that it'd be great if maybe we'll start having some single company episodes yeah pick one thing i'm going to because i know this can go long and we have been going pretty long here so who have i not asked about their company yet. She gave us separate. Yeah, you sure? Well, no, Danai and me. Sorry, I always pressure Danai. I'll do my separate and then Danai can

talk later on. My company, I like currently the latest earnings that have excited me. Yo, let me say it. I create, my God. I create because Tyrone, the man, finds some like the latest earnings that have excited me yo let me say it i create my god yes yes i create big up tyrone the man find some profit all of a sudden everybody stopped talk all of a sudden it's not a feeling terrible company but tyrone found it um like like like like manish water said on his,

on the last episode, you know, never count out a CEO, a founding CEO, a true founding CEO. Never count them out. No, no,

this is me. This isn't me blowing the, I create, I create trumpet there. Cause I still think that they have a little bit, not a little bit, a lot of a challenge. They're being worked on some more,

but we see where work has been putting yeah yeah and i i've seen a coveted strategy come out and we've seen probably one of the few companies that have actively moved towards their coveted strategy uh meaning the business i i i hesitate to call it a true pivot but it has pivoted quite a bit and it has pivoted towards towards online towards training a new business line i don't want to go too deep into it i hope in secret we were saying thing there we were saying it's from inception that boy i'm 19 okay the way to go yeah it should have been the way to go for them so i think they're going that way now with training and so on and that is a feel that is heating up i'm really happy to see that um i'm hoping to be able to get tyrone on an episode so we will see if we can get that done or not but

we're looking on 24.5 million in revenue um with a net profit of for the quarter of with a net profit for the quarter of $1.25 million, right? And that's a small number when we talk about other companies, but for iCreate, that's a big deal because one, it's a profit. And two, it's been compared to the same period last year of roughly $1.5 million in losses. so he's managed to turn it around in the middle of corona and let's hope that this sticks right i won't go too deep into it but he has spoken about partnering with different agencies and different industries and how that partnership has started to play out and i'm hoping that more of this will come out so I like iCreate but my real company that I'm excited about is I won't go drumroll but but but I am trying to wait for JSC's website to load so if you'll give me a moment my most exciting company not most exciting but I mean I want to say it's

probably I create at this point in a man in terms of most exciting it's probably the most interesting one to me believe it or not this palace I'm actually interested in seeing what palace what palace does now sorry guys, JC now has a download button on their results, the site is changing every day I noticed it today

so every site results a big download button, I guess I know what it is, it's a Jamaican thing, we're still very much coming online There's a big download button. I guess I know what it is. It's a Jamaican thing. We're still very much coming online. So it seems weird, but the idea of a link within a sentence isn't something that all Jamaicans get. So they don't get that all of these are black and this part of the sentence is blue and underlined.

So it's a link. I'm not saying that as I'm putting not saying that like as i put in on anybody i mean i see this from running my own site and send out emails and so on yeah we don't i get more of a response from putting the word link and turning that into the link or a button saying click here for link than i do from just putting a link in a sentence people don't get that that's a link i mean you talk to me like oh whenever i know so i suppose i click that so i suspect that the people at jsc have gotten a lot of calls about it which is why i know the results have a download button beside them i have to praise even small

innovation big up jsc a company that i currently own for at least 12 more or at least until the market open again so uh why palace is the most interesting company to me is because year to date, they're in their nine months. They have one more quarter to go. And, hold on. They have one more quarter to go.

And we are looking at them making in this quarter 229.3 million jamaican in revenue but their expenses direct expenses just to make that revenue was 235.9 so already those who click at math know that they're already looking at a gross profit loss but their actual net profit loss was 49.2 million year and that's for the january to march period and you know they have year to date they have a last year to date also so negative 53 million year to date in nine and nine months this is a company that is an old company it's a structured company but it is a company that's now looking at a public that is less and less interested in going to the movies.

When last you guys got to the movies? Exactly. Wow. I don't count. You count. You're a human being. When last you got to the movies, Phil? Well, last time I...

There's no movies yet here in Turkey. So last time I went to the movies was in December when I was there in Turkey. So last time I went to the movies was in December when I was there in Jamaica. Wow, you see that? And that's just because you're somewhere where there are no movies, right? So it's like, yo, I miss this. Yeah, miss the experience.

And why I say that you definitely count is two reasons. One, you represent an older demographic who would have seen when Jamaica was more movie-oriented. I mean, you remember the driving theater, right? know you do yeah yeah you must because i remember it i remember yes i know and it was my first movie at hubble my it wasn't my first movie but my first movie was land king at island life really well yeah you know somehow i was a super ranking fan and it and when i look at the time when it came out i'm very confused like how could you be a liking like you don't understand how much i love that movie like i do sir i do sir it's the first time

i've cried in a theater. Yes, I do. And it wasn't me crying. It was the whole theater full of Pitney Marlin. It came out in 1994. And yeah, exactly. Mufasa. That killed me. For years. And I kept watching.

I got the cassette and we watched that. We were just rinsed blanking. My brother. No, I'm looking at at I was one year old. Don't make sense, right? You know the name of that nice dog, right? I have a one year I have a one year old memory. I remember from when I was one year old.

That is fair. That is great. That is actually great. Wow. Wow. Wow. I don't have any one-year-old memories, so that's wicked. Sorry, Shanice, you were saying something just now? I was asking if you know the name of Dana's dog.

Simba. Simba. Ah. Oh, wow. It comes full circle. It's a circle of life. It's a circle of life. Winning. That joke, wow. It comes full circle. It's a circle of life. Winning. That joke, guys.

What? But yeah, Land King, what I'm referencing in all of this is that Phil, you'd have seen Jamaica change so much in terms of how we look at the movies. And I think, again, we're looking at a major change now because I also can't tell the last i went to the movies and i love the movies right

but i can't tell the last i went to the movies and it has to change in terms of what it is as an experience and home why it's more why it's interesting to me is that because realistic company their public results almost kind of force them to change but phil i coming back to your point again because as you said there is no lion king there is no more lion king damn there is no movie theater in in turks right and while these while this company are not in a deep analysis but while this company um this company being palace amusement has results that show them bleeding heavily it also has results that show them it also has results that show them being able to not not results they have money if you look at the one one content meeting on here is

their retained earnings right their balance earnings yeah their balance sheet I care about their retained earnings in this case is that they can they have the history and money to borrow against that and they can expand we know they spoke a couple months ago I think about expanding to the Trinidadian market yeah which is funny because the Trinidadian market has a company that spoke about expanding into Jamaica movie tone as your point on experiences being a theater about experiences to be to be honest from what I've beat has gotten them beat in terms of experience last time when i was in trinidad i stayed right by movie town the hotel near movie

town i never went to it but i don't know if well you know what yeah i mean you've been to the theaters in foreign the nicest theater is the one that you can go in and sit down or lay back and press a button and they they come and they bring drinks for you or they bring food or whatever you know the experience has to change but also that means you have to charge more i don't know if if if jamaica is at the point quiet for that premium experience but it's it's all for palaces at the forefront where they're the ones who have to determine that right and that i would have bet on that being able to be done in jamaica before corona no i don't know quite as much however as you said phil there's no movie theater in turks right so if there's no movie theater in turks and we're looking on palace

amusement which has uh retained earnings of as at the 31st of march i retained earnings of 254.8 million jamaican dollars these guys can maybe go take a hundred million dollar loan i'm saying it so easily but take a hundred million dollar loan and go on or or float a bond and go and put a theater in turks What's the population of Turks, Phil? 35,000. Oh, Wi-Fi country. Yeah, but that's good. You only need one theater.

It can be a cheap enough theater, but I'm pretty sure if there's no movie theater there, people will go to the movies. And this is the kind of thing that drives companies to expand, right? Because your core market has shifted so much. Because I'll tell you straight up, I like the movies, I like the experience, but I really also like being in my yard.

Alright? I don't have to be around nobody and I don't know if Palace can beat Netflix. I don't think they can. Netflix can be huge losses. Alright, so why are I think the record again, my chime in on movie theaters versus Netflix, you can see where Netflix is pushing right now for this to change, but we need not breaking new, breaking movies on Netflix.

not breaking new breaking movies on Netflix for Netflix 2 completely viable we need things there Netflix as a replacement we don't have people because the movie industry cares so much about their box office numbers and releasing into box

offices we have the issue of nobody's really coming to Netflix so you don't have a thing they're coming to netflix a publisher or whatever coming to netflix and say hey you're going to be a point a touch point for the first viewing of a movie well i think we're not going to be the first you're not going to be the first point where everywhere people find out people watch this review this movie if they see if netflix gets that gets that down then boy so they started doing it now because they have a list actors on some editing there on some of their home productions

so you find like adam sandler oh man chinese knows the names of movie people and they're actually winning oscars for their movies exactly so if you find so they build the rep up to the point where netflix is a premium type of place or a place where people say all right i'll start counting ethics in my release numbers then why are you trying because if you think about it like netflix all they need to do is have a feature where boy i want to watch this brand new move i want to watch this movie right it just comes the star wars the new star wars come out and i want to watch it then i have an fb subscription and i pay additional fee which to be honest i think of netflix's margin netflix to meet us baking them making the money they can

make because i i have more reasons to have have a Netflix subscription if I can watch new movies there as long as everything else on the list. And if I pay, say, $2 for a Netflix subscription for $8 a month and every time I want to view a new movie, because for Netflix to convert a movie into their platform, the cost for that, it already knows that that's not too much. the cost for that, he already knows that's not too much. If I charge $2 per viewing for that movie on the platform versus how much the theater costs if I go and buy food or if I pay for the whole experience versus Netflix, I'll open my screen,

take my dinner, and I can watch Star Wars for the first time in front of my thing. In front of my... If I like talk, we can talk. If I like it silent, we can keep it silent. We can rewind and pause. Exactly. If Netflix like talk, we can talk. If we like it silent, we can keep it silent. We can rewind and pause. Exactly. If Netflix gets that,

then boy, it's all over these guys. But you know that they have that. You just never considered it. Netflix does it all the time. They have a time when they always put out one specific movie that everybody watches. They did it with Will Smith and that was it Bright?

Was that the name of the movie? I just mentioned that. As I was saying, they have the A-list actors on their home releases. So that's fine. But it's not the place. Exactly. So Bird Box, Adam Sandler's movie. Marriage Story.

Uncut Gems. Those are the movies where you have the A-list actors. That's fine. But Netflix actually pays for the production of these movies or have some of our input in this movie being made if they can get another studio if they can get another studio to say boy

I want to bust my movie on Netflix at the same time bust in the theatres oh no they do what I think you're thinking of is and this is me knowing just how the movie business works you're thinking of like the blockbusters so for example yeah avengers let's say if avengers was every single movie that come out and go into a theater going on netflix also yeah but those companies are directly opposed to netflix definitely yeah they're considering they're Disney making its own thing.

So that type of thing. So if Netflix can get, as I say, if Netflix can get that, then boy, it's rough for a theater. It's over. I think they will.

Yeah, I think they will. But think about this. Netflix is now causing a situation where a lot of these companies are, for the very first, theater companies

for the first time are facing losses. Well, I have faced many years of losses in America. Palace just really, I look up them big loss. They haven't really had a loss in a good little while. So Palace is just doing their big loss now and they cannot fight Netflix.

Netflix debt is, I think, bigger than Jamaica's budget. Could be wrong, but I think Netflix's budget, debt is bigger than Jamaica's budget. Could be wrong, but I think Netflix's budget, debt is bigger than Jamaica's budget. And you can't fight that. And I think Palace knows it. But when you know that, when home gets hard,

you go somewhere else and start putting your wings, right? So who knows? Maybe we can fling out one warehouse theater in Turks, another one in just those small islands and look at that and i would rather personally i would rather to see that than trinidad where you're going to go and try and fight somebody an established thing yeah don't over fight go somewhere you don't have it yeah mcphil can go out again for real and going to trinidad is fighting the same the same Netflix thing as well

I mean you're fighting another movie company as well as another movie theatre company as well as exactly you can change things up so I'm interested in them and why I'm interested in them is not because they're good they don't have good results and it's hard to get their shares out

so it's really hard to get the shares but it is an opportunity to see how an established company adapts itself or or dies but i don't think they'll die i think they'll adapt it's really hard to kill a listed company yeah and they've been at this for a long time they've been through a long time various downturn downturns, hurricanes, stuff like that. Coronavirus is different, and it's coming at a time when, as you said, there is Netflix and streaming and stuff

like that. So it's a different challenge. Yeah, if you ask me, you know, Netflix and Netflix and Trump team up and invent coronavirus because everybody at home, everybody will watch everything

for Netflix yeah yes that makes more sense than the 5G tower thing ah you know this 5G theory just cool just cool oh my love, anyway i've been doing this

netflix and trump yeah they totally did yeah yeah what do you mean netflix and china oh yeah yeah oh boy oh you know what netflix and jeff bezos there we go um anyway i've been yapping a whole lot so i'm going to try and wrap it no uh dana you can tell us for your company that we can wrap this one up guys oh lord i didn't want to actually say it i wanted to find somebody else to say nice and just talk about it look good more we thought about it enough yeah well give the people remember there's always somebody listening for the first time this episode

the bean and team and that's all folks yeah yeah man um all right so burrito managed to find some profit in a time when everybody was expecting it. The thing is, if you look at the amount of money they're making despite what's happening right now, people are in dire straits. It's rough on some people. Look at other

brokers. Hmm. I didn't want to say that. Oh. But you're right. Across the board. They're getting hit hard. But Barica, you see the net interest income gone up more than two times. Fees income commission barely down. I said barely. In Randy terms. Like 181 million

compared to 255 million last year um yeah foreign exchange trading up not by much though but if you look at the gains and losses gains on investment activities brother a time where every single investment get a beating investment get a beating more almost there's almost 600 million to a 350 million last year I come on that's crazy for me then the way I'm sure but if you've got an operating revenue days on 1.3 1.1 billion come pretty 700 million last year 70 million last year. The expenses, while they went up, couldn't beat out that rising profit, that rising revenue.

So the expenses gone from $261 to $467 million. And then the profit does look nice at $509 million compared to $408 million. So you get $100 million more clear, straight on the thing there. And yeah, so they had an increase in amount of shares I had this period versus last year and the EPS is still more than thing there yeah then previously previously said the EPS is

14 percent more than last time Wow wow my share increase and that's good for sure yeah yeah well let me play devil's advocate though because um 2.5 million burrito shares were sold by two directors on may 8th how you feel about that the eighth is like last week or week before last all right How do you feel about that? The eighth is like last week or week before last. All right. That don't make you kind of worried? You're not shaking at all because of that?

Oh, what? There we go. There we go. There we go. There we go. That's a major question. It's a major question, but still i see all right yeah go ahead then i feel for anything where the shareholders are the direct process

how much sold uh 2.5 million 2.5 million if i share only very first then that means that that's exactly what has been That's exactly what I was doing. Not many people can push that kind of volume there. Yeah. And it says two directors. Wow. Sorry.

I was doing the same checks that I think Dana is doing now. I tried to do them before he was done. So I could. Yeah. it's not good yeah well if it's two directors and couple of them could have combined or someone sells something and then himself yeah it's kind of hard yeah these guys are smart you know these guys are smart you know they know how to they they understand the market yeah if you're very interested and i like that yeah i don't find that

very often you we we you say the people we think understand the market we call it name though yes yes this is smart so to make it the two directors why it's impressive to make it the two directors then you obfuscate who it is that is actually moving a heavy amount right um and it could it could mean that one director completely exited and another one just sold 500 you know another well it didn't show us anything buying though you just said they sold on that date nothing about that but that was interesting to me to see who bought into this oh yeah and it's not internal it's not internal because it would be a related party then yes it's very very interesting I don't know hmm it's Rita Humphries low in still a director yes she is she was speculation

which I think has since proved since been proven that she sold some shares. Yeah. Well, that wasn't speculation, was it? Because the way it was worded, it could have only been her. Only some directors own that amount. So it's speculation. Exactly. She was the only one at the time. Yeah, that it could have been.

Because it said a director. time yeah that it could have been um but 2.5 million shares outside of her is a major major thing yeah so the ball is up in the air then but i'm not arguing with the good results um as i say we might see better for them with the opening of the economy that's, you know, we're pushing right now. We're having things changing on us. So, I think Barrett is in a good place to make more money. And I think, as I keep saying, Barrett are not done. Barrett, it's obvious to me that they have some plans in play. Based on something, based on news releases we've seen from them,

in play versus based on something they raise on new news releases we've seen from them it's specifically revolving around what cornerstone wants to be or where it wants to go constantly advertising now as you're driving on the thing there on the highway and i see driving to the highway i say i'm currently about this man driving on the highway as it's big what service does Kronosol provide exactly you guys answer I don't want to say it one of you guys answer Shay you know Shanice you know no

Phil I guess okay so they're a banking group they're a holding company but they're a banking group they're a banking group. They're a holding company, but they're a banking group. They're a financial group. In fact, they are a financial holding company as far as I know. And they actually hold the single merchant bank license. Yes. Last one.

Yes. Last one. Exactly. bank license yes so yes last but exactly and they are they are open well they were open maybe two or three years ago what is that two years ago i think because when they bought in yeah about what is that they wanted and what is that they're they're planning to well open to a degree and the rest is to me yeah yes come you see you come you buy a barista, you buy a merchant bank. There is a video on one of the sites about MFNG, the merchant bank they do own, about MFNG going into personal banking, retail banking, sorry. To me, you're so excited to so excited to be at a certain level and we're not

just looking at barita as just barita barita is the first is a step in a certain direction the bottom mfg first right basically the heavy hitting moves are with barita you can see where they're dragging money towards them through barita so yeah and from marita oh towards them towards them being in cornerstone from yeah you can see where barita look on the steps barita has taken from where it was so when marita was owned by his previous owners bought out by council i'm going to change this in them from them then to no one the way they brought the money just genius is i'm actually making money if you didn't read all the kind of dividends paid out on check the prices that the price they bought

barry's art and the total dividends pay to them since oh yeah then the amount of under value in their share prices for them to me I think they do care about share price because we found the way they do the way cause again the rights issues when they were the way they were buying more burrito and getting under capitalizing on a spread in the right to your price first because right i wasn't falling really exactly um from 100 down to this to 50 some and they were still in a net game from 100 down to this to 50 some and they're still in a net game for something they bought for like nine nine or ten dollars shares at 30 dollars we bought shares at 45 uh during the rise yes i'm still in a neck game in some respects they are beating in some respects they're beating leeching

yes yeah who is also a burrito shareholder or at least was i believe you said something a video ago a few videos i got saw from them but um yeah yeah if i look at that marita not done cornerstone and more more importantly for me in chronos sooner than we get some motion they might expect and it might be revolved around Barita and just waiting to see how that will play out but to me the way they've it just makes sense for Barita to be somewhere as I said the cornerstone of wealth creation in Jamaica yeah and if you look at the players behind it you look at the players behind it, you can, and there are even more dots that can be connected. Yeah. I think that's the most we've ever spoken on Barita in terms of our thoughts.

Yeah, our current thoughts on it. So, well, yeah. There you have it, guys. So, Shea, we're going to wrap, so I'm going to allow you to tell us what you have, and then everybody, we can wrap up, because we've been going almost three hours, if not over three hours now. Yeah, time flies when you're having fun, right?

Wow. Imagine something like this for fun. Yeah, I actually raised mine because of Burrito and what I was talking about. And I remember the other day, i was just looking at burrito's top price and i'm like how do you put out these numbers and then you're you're you're further down this is crazy you know but okay but it's cool i guess it gives me time so that's how i'm i'm looking at it it gives me time to to get more or to get some stuff that I don't have. So that's good.

So I guess that's how I'm choosing to look at it. So there we go. I remember never be too in love with any stock to drop it immediately. Unless you have some heavy, heavy position. Yeah, man. Yeah, as much as I like immediately. Unless you have some heavy, heavy position. Yeah, man. Yeah, as much as I like that. Unless you have something better. Yeah, exactly.

Or your own value is, your own value and your own vision is longer than what the current situation is, right? What you get from the metric. Trust might be different from what we're looking at. Exactly. Exactly that. Yeah.

Somebody else might see the same exact thing and think, absolutely not. This is crazy. I could not touch it. And somebody else might think, well, Ryan, I'm big on Five Soleil. Ryan has said before that, you know, it's one thing that we publicly differ on,

which is how we view burrito. Yeah. And time is going to be the one that sees who gets this bit right. The Mac is exciting. Shea, were you into numbers before you started? You said you're doing psych. Not at all into numbers psych i am a psychologist and before i came into this this program this graduate program i was just in entertainment so nothing to do with nothing to do with numbers nothing to do with investing and stocks and all that. I did a personal finance class once in undergrad,

and they basically just gave us the definition of stocks and not much else. So it was basically, oh, these are stocks. They're stocks, but these are the things you should be focusing on. So that was the vibe I got from that class. That's basically what I had in terms of what stocks do and how it works the stock market works and i'm glad that that's shifting now so more people are knowing are getting to know more about stock market and stocks and how it

all works and i'm one of those people you, sometimes I think the industry man and the god of same class. Listen, don't start me off. I know, Shanice, I know. Yes, so there's that, man. So I wasn't into it, but I'm glad that I'm learning now. I've learned so much from just

listening and from of all places, right but yeah it's it's I'm very grateful for everything that I've learned that everyone continues to share the podcast and grow just sealed the's been ah yes you did do a grow you did do a grow you know what i heard the same you don't need to thank him that's what the money is for i did not hear that before but yeah that that sounds great to me because you know randy is always the one to say oh money talks right so profits it's all in profit so here we go yep yeah so grower really does pay for itself and then some i'll get for you i'm gonna say truly yes nobody now believes i'm never ever said this enough

i was that was not a page i received gifts in in return. What I can say is that earning season brought me from a place of panicking about my finances, wondering how on earth am I going to pull off all these things that I want to pull off and get all these things that I want to get to. Really just being relaxed and knowing that, yo, I'm good. I'm good. I i'm good i'm chilling that's a big deal that's a humongous deal as long as the money allows the money keep turning for as long as you understand more and well the reason i said it at first is that i didn't think

that somebody who don't like numbers are not into numbers or investing would think sitting on a car for three hours talking about stocks could be exciting but here you are right it's a nerdy don't call you an Aircross box. They don't. True. That is true. I have a group of friends that,

well, before COVID time, every Thursday we'd play games. Well, we'd play Kaluki. We'd have a Kaluki night. You know what that means i've tried with you guys anyways so my games night group we started out we play kaluki every thursday um eventually i start telling them about stocks so i'm getting more and more more and more of them into stocks until games nights on Thursdays turn into us discussing

companies while we're playing so every Thursday we'll choose a couple companies that we're going to discuss and we come and everybody say what they find about the company and see how we're going to invest so again, Shanice, that's how we are

I've told you about this several times wow we got the top striker didn't you publicly denounce our brunch? I'm pretty sure I was listening to an episode and you were saying Oh wow, that was our brunch

That was our brunch That was our brunch I think based on what was said I have to support her you know because you know I'm going to watch the brunch You never showed up for the brunch either

is that so zoom brunch oh where's the rest of you guys oh my god i love it i should say big up to the the college students who are dming me their homework guys i know it's your homework i'm not going to do it oh yo i get homework requests bro uh vertical analysis there's some core sales look like jsc this explains talks about the fees i don't know which course that is but yeah it's the same assignment i get it's a financial management yeah and i keep getting it down in my head i'm like yo if everybody send me

them course everybody everybody girlfriend send them course then i can look on it um everybody's girlfriend send them course then i can look on it um i kind of feel like it's obvious that it's the same course yeah oh my god well you know what i made one month i tell you i tell you this i've done a lot of work for other people i've done a lot of homework for other people and i used to charge them very well and they've all paid handsomely. So, if you guys want me to look at your work, I've done MBAs for other people. So, if you want me to look at your college work, hustle up that dirty money.

And even then, I'm not doing it. Because I do you a disservice also. You're just looking at quick A and you're not thinking about the time. But I'm not going through your financial management course. I want you to do it though. And it's pretty easy stuff literally google and jc website and you're good trust me you don't need me as much as you think you do yeah right um sir phil if i can do it wow confidence don't let Phil fool you Phil knows exactly what he's doing

yes and Phil on top of things he doesn't know what he's doing Phil is a top man in the game more I feel comfortable with some things I'm like yo listen up this man does ask himself if you were trusting himself he wouldn't have that problem I'm coming to explain something fully

and then ask you the question and him just explain I'm like yo what Phil you have it okay you don't need to say that cool brother explain something fully and then ask you the question him just explain how my old field you have it okay like you don't you need to say oh that cool brother like you're a fine sir just you know you're good brother moreover a lot of times we don't know a lot of times i don't know right which is good pressure sometimes isn't it definitely yeah philly and philly phil yeah yeah well i would have asked you to be an episode if i didn't think you were you were there so i had the beginner being shea and shaded and i was always beginning yeah right and phil phil knowing thing already is in use today so phil tell the people what you like and good night and then I'll jump to Shanice and then we'll wrap and go.

Yeah, man. What I like, you mean... No, just whatever you want to say because we are wrapping up now. Oh, yeah, man. I think going forward, one of the points I did want to make was, you know,

I know that I think for a lot of the stocks on the market right now, we are, it actually ties into that point that was made earlier about the fact that stock market investing is forward looking. And I think we need to bear in mind that for many of the stocks, maybe not everything, a lot of this fall is a many of the stocks maybe not everything a lot of this fall is a lot of the results that we'll see coming out probably more so for August a lot of the price has been factored in a lot of the sorry the falling in earnings has been already funded in to the price because a lot of these prices

have fallen for what is essentially not a good reason right there was trans jamaica and then um corona corona anticipation of corona as opposed to the actual effect of corona look at grace of corona as opposed to the actual effect of corona look at grace look at grace exactly and jm and b right ridiculous no reason no blessings blessings yeah true no complaints so yeah philip's gonna fight with the market, you know, Phil warns the people, Phil here I try to warn them like, guys, don't want to drop the price when you see the bad results come, Phil. You know, my point to you was going to be, if bad results come, no, and like it's, the income results in August drop and it's bad results that have already been priced in trust me i might just see the fall anyway right i'm not complaining that even if i'm anything boy i might have thought that

i'm not going to complain i guess on you know i needed to do and what i need to do now yeah yep yep that's literally it phil yeah yeah but you can tell people you're right a lot of the in the event that some companies have bad results a lot of their bad results would have been priced in already and ncb can actually come and drop a loss or two because the truth is the man them thing get priced in already exactly but that's not how the market work the market is the market so even after them price it in people are still come back and see yeah but phil that's when that's how that's how multi-millionaires are made did other people act without thinking and you think and then act yeah yeah you know the saying

you know you know the saying usually this week's buffet go ahead everyone flip it upon them and just the man if you put him on break him own rules the money exit the airlines yes remember the last office last rule one yeah man and and don't listen to guys like me so anyway guys unlike buffett do listen to guys like us i feel like i'm leaving out somebody top striker have i had you speak already that is correct i just want to burn him again i'll leave you to wrap the show since I talk so much. I'll leave it. I'm Randy. All right, cool.

You're Randy. You did. I'm Randy at RT row on pretty much every platform. And we will be back next week. We know one of our, but you're everything guys. All right. As you can see three hours,

I'll never go through everything. We'll be back next week with maybe some of these people or maybe a brand new set or a nice mix, hopefully. Um, and we will be covering more companies so i am randy rod arturo and i'll hand over to that and this has been earning season guys thanks for listening big up that was probably 45 minutes of having it on. I am disoriented. I'm a little mad if you can't

tell that already. Like I'm very, I'm frustrated, but I don't feel good physically. I feel dizzy. My hands are kind of tingly. My heart is beating fast. So some of it's an emotional reaction but some of it's a physical reaction like i can tell you right now i wasn't getting enough