Earnings Season - BrickTalk - Falling Short
Episode Date: October 6, 2022On #BrickTalk this week, we're all Falling Short. The JSE has been promising Shorting for a WHILE now, and it looks like we may be close to actually getting it now. This week Randy (fresh off... @jastockex's Shorting Workshop) & @HDanhai chop it up.📲Contact📲📧Mail - Earnings@everymickle.com🐥Twitter🐥 www.twitter.com/Earnings_SeasonRandy - @RTRoweDanhai - @HDanhaiOfficial Data Provider 📊 - www.MyMoneyJA.com🔗Links🔗MyMoneyJA - https://bit.ly/ESZNMMJA (12 month discount included)GRWR Beginner Investor Workshop Link - https://www.everymickle.com/grwr(Enter EARNINGBRICKS at checkout for a 10% discount) Advanced GRWR Short Term Investment Workshop Link - https://www.everymickle.com/agrwr(Enter EARNINGBRICKS at checkout for a 10% discount)Danhai's Advisory Session (Automatic 5% Anniversary Discount Included) - https://bit.ly/ES2YREF ★ Support this podcast ★
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Welcome, everybody, to this week's Brick Talk.
I'm Randy.
That's Danae on the other side of the screen.
And one of our three SmartKey sponsors, MyMoneyJA, is what you see at the bottom of the screen there.
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about a market he is not doing investment advisory at all alright if
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advisory dot-com and he will give you the best advice on the local market as
available if you go ahead and list us and
decide that oh well run the same like svl so all the money for going to svl you are making a mistake
right now that svl is about as well as a great choice but talk to your advisor about if it's a
great choice for you because when i say it's a great choice for you. Because when I say it's a great choice, I could be talking about 10 years from now, right?
And if you want the money 10 weeks from now, it might not work out the same.
So at no point should you think that.
No song on YouTube.
No song on YouTube.
Word.
Thank you very much.
I don't have to repeat all of that.
Welcome to. They're hearing me. They're not hearing you. of that welcome to the hearing me they're
not hearing you yeah they should be hearing me know welcome again everybody
to this week's brick talk I'm Randy that's the night that I is a licensed
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it's a market companion for the local stock market, Jamaican stock market, and it is easily the best.
The best market companion around when it comes to the local market,
and it's getting better every single day.
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The next grow is tomorrow. So if you want to get in and you want to if you still have time you do still have time you
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and truly tomorrow right um i think i've said it all and with that said I'll invite everybody who is listening to join us in
a conversation I'd be really want to get in a conversation I know a lot of people
oftentimes listening to us I said boy once I said I thought you'd want to know
feel about something feel free to jump in on the conversation with us we are
more than welcome to hear what you have to say and this week we have a little theme
I know usually I do a little I know usually I do a little a little prize
around artwork this week has been a very busy week so I didn't have anything
built into it but who knows maybe the person can come in and give us the best
interpretation of this I'll give you a discount to grow.
And it doesn't have to be tomorrow's grow.
You can get a discount to the grow in October.
But I'll make it clear,
I do not have any planned thing with this.
I actually didn't even ask the artist what it was.
I think he just went with the word falling
and one brick shot of the edge.
Who knows?
So, but all that said, welcome to Brick brick talk send a speaking request and we'll talk about this or anything else that you want to talk about
on the market as usual it has been an exciting week on the market as usual there indeed indeed
boy there's a whole if you have anything you want you want to start off with than i um
i well let me tell them why i said falling short, by the way,
because I did mention it in the blurb, but
everybody may not
see the blurb.
The JC has been talking about shorting
for, I don't know, when you started
investing, Danai,
seriously, and you seriously started
investing, what year was it?
2018. 2018.
2018.
Were they talking about shorting then?
Yes, I'm starting to talk about it.
I think 2019 is probably reporting more than so.
Yeah, 2019 2019 the two things
i know the jc19 had a great money yeah the two things i'm always talking about is shorting and
um the the depository receipts you know the trade in u.s stocks on the local stock market that's the
thing that you always hear from them um and i understand why the depository receipt one has been harder to do.
In fact, I don't expect them to do that one anytime soon, actually,
but who knows? Maybe Dr. Clark might free them.
But the shorting, it seems is a lot closer.
So I figure if anybody wants to talk about that, perfect evening to do it.
We also have a little thing where almost it's like a little curse.
The thing that's on the poster is almost never the thing that we end up talking about fully for the whole night.
But whoever knows, always send me speaking requests.
We'll talk about this or whatever else you want on the market.
And if it's about the sharting, I's it's a great thing to talk about i did the
shorting workshop the jc actually had a shorting workshop this week where they had a gentleman out
of britain his name is slipping me uh i want to say his name howard horton i thought it was an
interesting session um interesting doesn't really tell you anything, right? But I mean,
the gentleman obviously knows his stuff. He knows sharting. He understands derivatives
and understands it from a core level. I think you'd actually have liked that session, didn't I?
No, no. I wish I went. I never blocked it out in time.
Yeah, it was. I don't know if they'll have the recording of it. I know JC recorded it,
but I don't know if they'll have the recording for sale of it. A lot of people were in there, I think almost 100 people I believe
were in there and it was, I will not joke, it was technical. Technical good, it was technical.
But technical good.
It was technical.
I mean, it was no grow, but grow is cut to fit for the Jamaican market.
This was shorting in its true sense.
Like if you Google shorting, if you're watching a YouTube video on shorting,
you'll hear a lot of the similar things.
The guy really knew his stuff.
I wish I could have a conversation with him. I actually had intended for the time to see if he would be open to come in
and talking to us and talk about it.
But it was good i thought you'd like it also because i think he's he i think he is a
professor i think one of his qualifications is math something math related so you know how
derivatives people that actually understand math properly
they're yeah in fact one of the richest one's one boy's name that has that fund um
icon no man i can't phone man
oh the the the thing that the the robot phone the guy has yeah yeah he doesn't talk yeah yeah i know
what is his name is it something like royalty or revolution or something like that
yeah
that yeah
i simmons jim simmons yes jim simmons jim simmons yeah jim said renaissance that's his Simmons Jim Simmons the math one billionaire Jim Simmons yes Jim Simmons Jim Simmons
yeah Jim Simmons
Renaissance
that's his word
Renaissance
yes
I've heard
Prince Simmons
so that's why I'm running with that
yeah
oh yes
Renaissance
that guy
yeah that guy
legend
that guy's a legend boy
yeah
you know him serious
when he say thing
when he say when he say when i'm saying i'm again kept the
phone and you can't stay in there too long so yeah in there for your turn you have to wait a while
before you come back in because the method that he uses takes time right yeah it takes time i'm
setting there because it's always changing and then the reliability changes the moment they go
over a certain number so you keep
it at that number and i think i think that meaning you're talking about like the take so how do you
simplify this i think this is not what happens but i'm gonna try think of it like him knowing
can make two cents off every ten dollars of course if he did that consistently he doesn't he isn't
necessarily reporting that
he's reporting, oh, you know, we made 200% profit.
And of course, the second you do that, um, everybody rushes to, okay, well make 300%
or 400%, but he's like, eh, you're coming in my fund.
I have a way I can do it.
I'm making 2 cents off every 10 of every $100 or every $10.
Maybe I can make $0.05.
But I'm not promising that.
And I think maybe that's another reason for the capping of the fund too.
Good marketing.
Keep me exclusive.
Yeah, well, I was even thinking that.
I was just thinking you lose so much
when you have to handle different investors, right?
The first person that comes with something that,
think about the reaction, maybe in our early days when we're talking about what's doing on
what we're doing on the market like how people even to this day decide oh no i'm more long term
i'm not short term like you guys even though we don't know right there at all they just decide
on their own um imagine if he had to deal with that which he did because i didn't believe him
imagine if he had to deal with that,
which he did,
because they didn't believe him.
Oh,
definitely.
Coming to the mat.
Exactly.
Then computer.
And then,
after a while,
when it's work,
and it's obvious that it's working,
it's obvious that money is being made.
You're going to get those people come in.
And suddenly you have a different set of people with different expectations,
hitting you hard. and i think it's
up to him to um up to them at his renaissance technologies but the fund is the medallion fund
yeah yeah so anybody wanting to google it you should google that the medallion fund
jim simon simon's renaissance technologies and he he's not he's not out Technologies and he's not
out there talking. He's one of the
deadliest. I mean, you hear about
quantitative investing, yada, yada,
yada.
And he's
a little math teacher.
Yeah.
You know what I think of it like?
When I was in high school
at Arden Bigot, Mr. McDonald,
I remember we were learning probability
in AdMath.
I think it was AdMath.
In my class, we were learning probability
and he used a lottery example
and he actually made us work out, you know,
lotto.
And then we worked it out
and we got the probability,
but all I could feel, I looked at him like,
wait, hold on.
Why are you doing this? I don't think anybody else got it but then eventually i was thinking it and then he said it eventually i was like wait i'm and again guys
i'm getting this number wrong but at the time this is a long time ago but at the time let's say
it would cost you 25 million to buy every single permutation of the lotto and i'm like but there are times when the
lotto is like 150 million right 200 million why wouldn't you just do and you know you know this
why would you just do it right but then of course guys teaching math at ireland i don't think he had
25 million in his pocket for the one but regardless like that's a guaranteed early the odds now
but regardless like that's a guaranteed the odds know I think the odds are up to a billion no over a billion are terrible that's terrible like it cost so much to
buy mm-hmm and yet it would work out it might but if I don't wanna I don't
explain my thought of what it would work.
If it would work,
you would offer trash numbers.
You have to get those.
Okay.
So the guaranteed method is you buy every number
and there's still some lotteries that
the permutations are just still so low
that it's still possible.
Now, there are others like ours
where I think they change it.
They add one.
You have to get all
Yeah man, that's a wide range for the amount of numbers and it's a good amount of things
It's not a mass show
Yeah, to the other day it's over a billion odd permutations if I remember correctly
And then you have to buy that much tickets
Exactly, but then like you're saying you can throw out some junk
A good amount of numbers Yeah and then you buy that much ticket exactly but then like you're saying you can throw out some junk some junk i'll go down to numbers yeah it's like if you're really serious i can't check
thing there you can check the past and sit in there you must if if it's a machine that does it
but the past so the machine doesn't change the past matters because it is you know again you
can put a probability of you can probably put a probability of a number being returned. You can tell the probability of every single number
in each slot that comes.
And then you can probably put a likelihood
that this is a machine.
So the machine built a certain way.
So you're doing that probability
of certain things happening across a certain level.
But the machine...
So if six...
No, go ahead. Sorry. Go ahead.
If your second number is six,
so you can see how often six is tracked
and then how often six was put out
as a number for the lottery.
So what you can do then is say,
all right, maybe my track,
the basis for not having a number
is that in this spot,
the probability of it is way too high to not go.
Yeah, but no, you're going to lose money there. Unless I're gonna lose money there unless i'm misunderstanding so like why i said the past
don't matter is let's say for the past hundred lotto winners the the digit six has never appeared
in the last i would use that i would use winners okay well because winners combination of the of each separate slot
i won't use that only i won't use that only because winning combination does mean all right
so suppose the combination is your the whole thing right what i know across each lane there
is so you have seven different slots and there's a
36 numbers that can be in that slot if i track every single draw every single local draw then
i can see how often each number happens in each slot i can probably probably not a good one not
a perfect one but based on the past of how often each number hits a slot but that's why i say
in the past don't matter because let's say that the probability of the number six coming in the
fifth slot is really low just based on the past data you've looked at but but the number six going
in the fifth slot is in no way shape or form influenced by the past it's simply influenced
by what's happening in the machine right now.
And the machine is by law
required to be
at a certain level of tolerance where
randomness is as close as it can come
to randomness is there.
So what I'm doing with that is just a thing
that is because it will cost so much
money to buy every single ticket.
And then the payout is
a billion. So how do you trash enough numbers? So I would, I would. I'm with you. And then the payout is a billion. So how do you trash enough numbers?
So I would, I'm with you, you know.
But what I start trashing things like
five, five, five, five, five, five, five, right?
Oh yeah, a very small amount of those.
Exactly, still a small amount of that.
Where you get into now is the dangerous territory.
I know you're actually playing the lottery
because suppose you spend half a million
or you spend
10 million and this is the time
when six came in the fifth slot.
Oh yeah, that's
because
without that,
I can't find a good mechanism to narrow it down.
Yeah, well, yeah.
If I cut
the number in half, I'd spend 500 million plus.
If it's a billion, it's too much money at the end of the day.
If I cut it down to a number where I say, cool, I'm profitable.
I just wouldn't do it for a lottery that has prevented it.
Or a lottery didn't always prevent it.
I'd change it to ensure that it's prevented.
Good thing there.
Any more?
Probably if you've won the lottery before.
Yes.
As I said,
that's the thing I wanted to start was that there are places I think in America where,
you know,
the States tend to do lotteries where it's made it illegal for you to do
that.
Oh yeah.
And again,
I'm just there,
but there's a lot of billionaire.
I think it's a lady. It's a billionaire lady. Well, she's rich off of, she's a lot of billionaire i think it's a lady it's a billionaire
lady but she's rich off of she won a couple of battles and that's her that's her thing she's
super math person won a lotto and then she's basically started a company that they do the
probabilities of and hunt battles across the world and her mechanism is of course very in-depth
but she says how cool i'm going to that country to that lot of because yo if you have i can give if you have a company that does that your your low-hanging fruit is
going to be every lottery around the world where the permutations are are doable below a certain
price and so why i know that it's illegal some places is that i found it weird that why wouldn't
you just change the the mechanism mechanism to make it different?
But you know, some parts of America, I guess they're going to listen now,
we'll just make it illegal for you to buy every number. That's weird to make it illegal.
I think I know a guy that did that. It's weird to make that illegal. It is weird to make something
that illegal. I can buy 10,000, but I can't buy
10,001.
Why? I don't think it's weird because
how it becomes illegal is probably
the same after you guys push for it.
Yeah, but that's silly. Just change the permutations.
It's not that easy.
The thing is,
the way they get that
is,
if I buy everything.
Oh, that's what you mean?
Yeah.
So you mean buying everything illegal?
That's what they've done, yeah.
So if you won, and when they win, because remember, it's an electronic system.
When you win, they check and see that Danai Hall won, but our system shows that Danai Hall also bought 1,787,000 tickets
and he bought every permutation.
I guess, I don't know, they lock you up.
I'd have to go and research it.
But I just found it has been made illegal some places.
And I've always thought that's a weird thing to make illegal.
Oh yeah, I agree with the company.
Just put it in a range where we can't read. that's a weird thing to make illegal just oh yeah i agree with the company just either put
put in a range where then we can't read yeah we're just it just doesn't become mathematically
possible i think i think they bother i think they're balancing it with the when you start
doing that then you're probably the winners from thing that you might ask the odds of anybody
that regular anybody that plays the game because they like the odds and I
can't really
do that.
If now the
odds are so
messed up to
get the crowd
out this guy
then me with
my one ticket
a week,
now I'm a
chance.
Yeah, and so
you have a
long period of
time where
nobody wins,
nobody wins,
but that's how
you also get
big jackpots,
right?
And then you
get the
excitement around
it.
So I guess
the good
business is
in finding
the right middle ground where people don't win for long enough And then you get the excitement around it. So I guess the good business isn't fine in the right middle ground
where people don't
win for long enough, but it gets big
enough. And then
that's where
Superlotto went across the
region.
Because the Jamaican
population alone wouldn't have been enough.
Increase it to the whole Caribbean region.
Welcome to Brick Talk brought to you by SVL.
It was not brought to you by SVL at all.
The only person or the only element in that entire lottery thing
that is a guaranteed winner is SVL.
The host always wins.
Damn. That's why the house right yeah so in august my first thought was when you said if you have all the money to do whatever i said let's buy stocks he's a figure probably the
only thing there for a hundred million so i'll buy stocks yeah unless unless it's a thing where
10 million can give you every permutation
of this game and the price is 50 million or even 15 million and then i have to figure out what's
the cost of buying all 10 mil but the fact that that person the lady i was saying about the fact
she knows how much to buy and which tickets and which tickets she needs to buy
to win enough money for profit.
That's her whole gig.
And she's still rich after that.
She became super rich and then just kept becoming richer
and richer and richer after that.
She's probably looking at us like why buy stocks
if she should actually probably buy the lottery company too
or buy into the lottery companies but we don't want to yeah i would do that if that was my game
i would definitely buy it but then after but then you don't want that okay yeah yeah your problems out biting away you can't we can't
influence it yeah in fact the last i don't know i would start that and you would you would become
the man that everybody want to know what a man play yeah no come to brick top brought to you by
what a man play um what's up sir lennox aldred i see you sent here speaker what's up, Sir Lennox Aldred? I see you sent here. Speaker, what's up?
How are you doing?
I am good.
I am good, gents.
How are you doing?
I do.
No, Lennox, that's good.
Yeah, man.
Well, one of the things that I wanted to ask you guys about,
and I'm not sure you're probably privy to what's happening
or have some information,
but the situation with CPGA here,
happening or have some information but the situation with cpj here with the delay in the the annual um financials and then that was like the 5th of september and then two days later a year
so the the ceo god what's going on here let me help you out with something great just as previous
yeah people tend to have that idea in in their mind
and i don't like turn off the cameras and then you know we go to our
market meeting where every stock on the market the board report to us we don't we don't we don't we
know as much as you we know as what's in the public space um so we're not privy to anything
it's funny that you link those two things though.
Yes, they have delays in their annual report, the audited report for the year. I don't know
if that's in any way, shape or form linked to the new CEO or the old CEO leaving though.
Yeah, well, I mean, two mean, two days after, man.
That lookalike.
Lookalike?
No means away.
I mean, I'm also courting the idea that it couldn't be related.
But there's no way to really say.
So let's not speculate into that, I guess.
I'll say keep it in mind.
And if something comes up that makes you dig into that
lean into that theory further then you work with it well you know where i lean in with this now
i lean in and looking at the numbers they're probably not so good you know and the man the
boss and say yo go on and go back where you come from you know you know what but when he leaves
he'll leave two days after after what after them? After they delay the thing there. But when
is the annual report? When is the annual report? October. October, they said. October 12th.
No, when is it? When is the time period that it covers? That would have been the last quarter, no sir? Which ends when? That would have ended July?
June.
June 30th.
Yeah.
So.
And either September 5th.
How you feel about it now?
Why?
Based on the episode, I don't think it's looking so good.
No, man. I don't know what the episode is. What's the episode?
Well, that's the whole timeline of everything that's happening.
But I just gave you a new dot for your timeline. Hold on. I just gave you a new dot for your timeline.
The quarter that you're talking about, where the data ends, it ended June 30th.
where the data ends is it ended june 30th and you're saying that you're thinking that maybe the data the the results of the company weren't good so then let them send him home two days before
we don't see it we don't see it yet so no in fact they know they they notice posters same day as as the day
his resignation letter went in yeah but you're tying it on them being close together but if you
look at it the result the report that's coming out then is up to june that's two months after
the problem that's two months if there was a problem in that report they're firing he he leaves two months
after the problem well i mean i don't know what's happening that's why i tried
but i want i want you to be the same what i want you to do you know leonard yeah you're
speculating to speculate yeah man speculate but speculate yeah speculate with the same level
of thinking that you brought to go well maybe something wrong with the results
cool now you know that if something is wrong with the company performance i don't think the guys
didn't know i don't think the board didn't know until yeah like two over two months later i don't
think the board didn't know until then i i'm under the impression that they know how, that they have a very good idea how to end the quarter on June 30th,
if not that July 1 or 2 or July 3rd, but not September.
Yeah.
Even before the quarter is done, you have an idea how it goes.
Generally, what would cause for...
No, man.
Don't do that.
Don't do that.
Don't do that.
Continue along the exact same line that
I'm thinking because if you see the fear something and then stop and it would go
on top or something else what happened is that part of our minds keep the the
frayed reaction and the market is filled with fear everything worried think about
it Lennox what does CPj do for money how they make their money
they make their money through distribution and wholesale
food and them things to who everything well one of their biggest clients is the
hotels okay we are who are the hotels clients
And who are the hotel's clients?
Tourists, yeah.
So it could be said in some way that the tourist footprint,
the amount of tourists in the island, and the level of spend from the tourists in the island
has some impact on CPJ's numbers, right?
I'm hoping that it does.
No, man.
You have sense? what I just say
basically everybody else has done well no no Lennox Lennox
follow the line that everybody else your Lennox avoid come growing a male male
ready for you lennox a big
discount you know if i fight come grow unless we do it free millions of money investing up but now
i spend a little money i learn and it would help him with this you know but hold on lennox we're
getting a small little slice help me out cpj you said that their biggest customers are the hotels right yeah and the hotels their customers are who
the tourists and what cpj sells is food and other items beverages not just that but we'll keep it
there to the hotels and hotels then use that food for the tourists right right so the more
tourists come to the island the more food them eat The more the hotels have to have more food, right?
Yep
Alright
Up to the end of June 2022
Do you think that we had
Strong tourism in Jamaica
Or weak tourism?
Very strong
So why do you think that CPJ would have a problem?
Well, I mean I don't think the problem is with the numbers in terms of the business.
Hold on.
You know what you said five minutes ago?
You said, boy, I think the numbers might be bad.
Numbers.
You see how once you start, go through it logically, you can't let go of that?
Yeah.
Fear is the most dangerous thing on the market.
It stops.
Fear is a mind killer.
It stops you from thinking about the thing that you know.
You ask them and say, everybody else is doing well.
When you say everybody else is doing well, who do you mean?
Everybody else that's exposed to tourism?
Pretty much like the other entities that benefit from tourism numbers being good
even x1 oh and i would blow blow no actually yes even x1 even x1 sure no i'm not sure um let me
check can search back yeah i feel like i know what that does last result and point something
out also guys if you're watching us on on youtube or if you're just
listening on my money ja if you hit control k you can search for anything including your own
portfolio your um lots of things x fund what are you saying Danai? Last quarter
71 million dollars
What are you supposed to pay?
You think so
Hotel company
You think so, they used to be
But they're not
I haven't even checked in a while
Are they still play exposed?
No, but they're hotel exposed still
Double three Really still play exposed? No, but the hotel exposed still. The one,
double three
further.
Really?
Hotel revenue
1.8 billion
in the second quarter
versus 1.1 billion
in the same period
in 2021.
3.5 billion
year to date
which is in six months and the whole of last year was 4.4 billion. year to date which is in 6 months
and the whole of last year was 4.4 billion
so why are they making a loss
hotel expenses
1.3 billion
depreciation
they spend enough money
on food
it would look so
yeah exactly hotel expenses probably include food right Lennox They spend enough money on food there, you know. Why? It would look so.
So it's a hotel... Yeah, exactly.
Hotel expenses probably include food, right, Lennox?
Of course.
It's one of them.
Yeah.
So think of it in another way.
Gas go up all the time.
The gas station make money, right?
So it's beneficial then to own a gas station
even when things are rough when it comes to gas prices, right? So it's beneficial then to own a gas station, even
when things are rough when it comes to gas prices,
right?
That's right.
So you really think that CPJ,
I'm going to jump back to CPJ now, you really
think that CPJ
in the first quarter,
CPJ made 1.6
million US in profit.
CPJ made 1.6 million US in profit. CPJ, I think one of their best years,
2018 was a record year for tourism in Jamaica
and the profit for all of 2018 was 2.1 billion.
Million, sorry, 2.1 million US dollars.
In the second quarter, CPJ's profit was 3.6 million US.
Again, I don't think CPJ has ever made 3.5 million in profit, have they, in their history?
And this is just within three months.
And then January to March, they make another 1.6 million us in profit
and then have the last quarter to report no are you think says suddenly it's bad
i don't well you see i was trying to fathom what could happen in terms of this situation with the
ceo and all that and the delay in the filing i i was trying to put it
together piece it come grow and you'll learn how to put these things together but i can tell you
ultimately unless the ceo come out and talk and i doubt the ceo candidate in probably
on the heavy end is and unless cpj's board comes out on top we might just not know
i guess we just have to wait till october for now or go on then yeah but think but even in october you probably won't know well they said that i think they get
they get an extension must still look well you're looking we are still looking at the results as if
the results will show you what happens there. It could be something completely different.
Suppose nothing happened wrong with CPJ
and this man gets a nice new job and he says,
well, I'm out.
I mean, Lennox, they're not going to tell us in the results.
It's a possibility there's some great results
for them not to tell you.
And two, you might just not know.
The results might not show the story you want to see.
And they'll be lost on that part. So what the story you want to see for the week to come so what do you actually
want to see from CPJ?
well I want the numbers
to be decent
and the sheer price
what's decent?
well listen they make the last quarter
they make 1.something million US
that's nice for them to go back to the 2018
numbers again sir i am comparing three month numbers to one year numbers if they
were to go back to 2018 numbers yeah that would be a fall you're looking at the best cpj you've
ever seen ever which was 2018 no no no right no right no 2018 2019 you're looking at the best cpj you
ever seen okay right now this year right now the first three quarters of this year
is better than the one and the last one last year too the first three quarters of this year
is better than the last but i would say the last five years combined definitely last four years combined
last four years combined yeah at least the last four years combined and the last three is lost
i mean you can't check check it out yeah i hear a company you should be telling us
i'm growing learning for them thing man man rather come on yeah yeah man why the girl girl girl too long man why
you think that you think that i hear money yeah
i can't i can make it very very short but you want it to be quick or you want it to be good
well i want yeah yeah remember that time is money. Tell me this, Lennox.
You ever hear anybody going?
I mean, there's a short version.
The one earlier this week was done over two evenings
for people who don't have the whole time.
Also, I tell you this, I have ADHD.
I couldn't watch anything if it was boring.
I ensure that it's exciting.
I ensure that there's enough.
If you pay attention and you're serious,
it's not just me droning on
and you don't ever have any input.
Trust me.
I was a good version for people who said,
boy, I can't do the all-day thing,
which I understand.
I think about it.
You can't explain everything in about three hours.
You can't.
No.
Millions and hundreds of millions on the't explain everything in about three hours. You can't. No. No, exactly.
Millions and hundreds of millions on the market could be explained in three hours.
Everybody would be multi-billionaires.
You realize you're complaining about something that might cost you one day and then... He said time is money.
And he's looking at the thing that would help him to manage his money and make more money with it.
But he wants it quicker.
You can't do quicker.
You said it really good time is money so i spent
a whole day on this cause this is this this is my money
well as you say just that we don't sit down for so long and
let's not you know if we do it anybody can yeah if me do it anybody can do it
trust me if we need you anybody can do it and that I said I see it it trust me let
let us also get up and jump run on your living room or zero business I suspect
I do want to pay attention you'll be engaged from the start to the finish
well as our breaks it's not like there's no break. It's a break.
Go to a macro view in one day
and after that,
last for the rest of your life, money-wise.
That's not a good investment of time?
It is.
That definitely would be a great investment.
All right.
But my attention span is very, very, very short.
Lennox, if you're asking my teacher,
they might not want to have a show right now
and show up every week.
You know, pay attention.
I'll lose you after 10 minutes.
Definitely.
Oh, gosh. Lennox, somebody DM me and say, like I tell, it's cricket. You don't pay attention. I'll lose you after 10 minutes. Definitely.
Lennox, somebody DM me and say it's a lie you're telling because you watch Test Cricket.
Say what?
It's a lie you're telling. You can't do it because you watch Test Cricket.
Lennox.
Yeah, because my affo watch it.
My affo watch it because a lot of work.
What's your money this?
You don't work with the money?
When you go into the market And work you know
Trust me
You know it
If it wasn't
You would be asking about CPT right now
Trust me
One of them days
I'm not going to do it man
It's just that
I'm not trying to work
All the best time man
Yeah
I'm sorry
When the best time
The time you make
Which
Which
We're not doing anything
We're not going to run through
All that with it
You know better Yeah man When you Just find a date Find a date best time the time you make which which we're not going to run through all that with you you know
better yeah man when you just finally plan a day you'll see the start of the month come on the girl
come out and switch it is black out today then say i'm gonna use it yeah yeah and you know
do the split grow the half yeah the split more split split more work with my schedule that's why i take this
i'm talking blessings man though boy you make the money to you know let
us say don't hurt me for you make more money no that's true man and that's why
imagine the conversation then when you understand more and boy yeah yeah yeah
that's how you go muslim youtube said believe no man proven investments to purchase the money and
skyrocket muscle what i say dreaming my dream man
muscle click the link in the youtube bio in the youtube
because i don't hear any such thing in fact that's how you're from
interesting last year from proving that them said i'm scaling down them acquisitions for the next few years i wonder if you have any divestments to me that would be nice if that had a divestment to
me yeah this would be the time of divestments. Lennox, big up and thank you for that.
That was a question.
Tell me something else that you're looking at in the market other than CPT, you know?
Wow.
I don't know.
The other day, I see Chris Berry did a tweet, I think, about one about one-on-one
What did he tweet?
Well, he did
a tweet that said, boy
some $3 argument
but
I don't know
You have to ask Chris that one yourself
You never say tweet
I don't always
say all his tweets, you. What was the tweet saying?
Well he was just saying that boy, like in a nutshell he must have no bother around to sell his shares to me because it might reach $3 by way way way.
So how about that? How about the tweet? What about the tweet exactly?
Well I mean it it barely reached two dollars
yeah so that's why sometimes they can't listen to
but what it don't you know depends depending on the same for my
input my my my my my decide it if him say it it must happen
well I know you listen you're the one telling me I'm saying because here you
are you listen to me see it so I mean Chris Berry
Chris Berry is a
man who knows
this thing
so I mean
at the end
of the day
him know this
thing better
than many
actually
that's the
point me and
me
so when he
says something
people will
listen
so that's
about him
listening
I'm not sure
exactly what
you're saying
well as I
said
I don't
remember
I don't even know if you could have found it.
Yeah, man, I just found a tweet.
What he said was,
go tell your one-on-one too early.
This one likely to break $3 by next week.
And he said that September 1.
And it didn't break $3.
It went as high as $2.50.
But hear me,
if a man say the same thing,
this one...
If a man say like it to break,
or me will buy it from you,
likely.
This thing might have
200% in it next week.
And instead, only give only 150% profit.
Most people don't take that still.
But you're complaining.
Most people are going for that.
Yeah.
Remember I said a one-on-one.
Even at that time, I also remember that one-on-one had a little... They had a little... Not one-on-one even at that time i also remember that one-on-one had a little um they had a little
not one-on-one but there was jc glitch but the jc said it wasn't a glitch so
i'm trying to figure out what to call it but there was um
trading that many people experienced on uh
a few days into the one-on-one thing.
But one-on-one itself, I mean, one-on-one itself, okay.
$1, 80% profit if you bought it.
Yeah.
Yeah.
Most people would take that.
Most people would take that.
It's so funny.
The Jamaican public, that wasn't getting even half a percent
in their savings account for the last 10 years.
Look down on 80% profit in three weeks.
See the IPO, they've spoiled them.
Yeah, yeah, yeah.
They've spoiled themselves.
Yeah, it's us.
It's not them, it's us.
It's us.
We are the people in the market.
IPO again or something. And the them with the whole heap of money now get the unit well man that's how you now get unity one but there's a way you have to approach the um
the market
it is what it is that's the ipo But money that was for money in the IPO. A million dollars only to get 10,000 units and all that.
It is what it is.
That's the IPO.
It means that
if you have your millions of units
and you keep doing this
and it doesn't really work out,
then I can't blame them.
In fact, I can't blame them from the start.
But if you
see this,
Randy from say from before
you know so they went to one on one did you think you could put a million dollars in it and get
and get how much did I get how much was expecting to get nowhere near to that so and and it is
actually a sad trend I'm going forward with all these IPOs?
No.
Sad trend, why?
It seems to be the norm now.
What's sad?
What's the sad part?
That you're not able to get the amount.
It's so nice.
It's a boy Lennox.
It's so nice.
You expect to be able to.
It's not a sad thing.
It is what it is.
But you used to could have done that.
No, sir. Yeah. For one, definitely. No, no, it is what it is. But you used to do that?
No sir.
Yeah.
For one, definitely.
No, no, no, you're right.
No.
It depends how far back ago you were used to.
Yeah man, you used to do that.
Like when you were accessing the same thing there.
For the last five years, a million dollars, go in. How much would you name a million dollars could go in?
You apply that million dollars and get everything.
I don't know how far back you'd go for probably.
I'm saying for the last five years.
I don't think any.
Well, none.
That's the answer.
Not one.
Yeah, none.
None.
You wouldn't get all of it.
Not all of it.
And you wouldn't even get a large allocation i think the largest what's the largest allocation recently in maybe in the last
five years um sos with them with them thing there it's always with the 200 000 or something like
that what's the allocation i think i think in fesco would it 40 would it fesco the 40 percent
yeah yeah if you go to that thing if you go know yeah definitely a pro today yeah you put a million in fiscal you don't get 400
cables and Fesco everybody love Fesco no but if you're not suffering from
recency bias the second most interesting on the market you remember that Fesco
was wasn't really looked at that greatly when it IPO'd. It stagnated for a long, long, long, long, long, long time.
And then it kind of started to pick up.
And then it flew.
It worked.
Yeah.
A lot of people got in after it IPO'd, so they don't know.
But, yeah, it wasn't that great.
Great. It didn't hit three three hundred percent did it I think it did actually you know what I first yeah well they that we did the same here yes what
took a good months You know the 400,000 man, you will take that man, 300% after that, take that and run.
But you see what the problem is?
You know what happened? We're talking at the same point now that one-on-one is, because in fact, Fesco, Fesco, they make more money. How long since one-on-one this?
How long now? About, I don't think they've gone a month yet. They've gone a month?
September 1, 23 days. how long now about i'm going i'm not thinking i'm going to amount it i'm going to month september 1
23 days 23 days 23 days of a first place you see the price you probably get a lower percentage
your return will be lower than thing then than one and one
after 23 days how much much stress could go to after 23 days? From April 22nd
So
Looking at what?
30 days
23
May 15th
They started at $1, right?
That's the thinking
But no, they did not
So it's May 17th
They're at 108
108
Yeah so that's what
You don't make more money on 101 than fiscal
You don't make more percent to return on 101 than fiscal
35%
23 days from an IPO that's blasphemy
People were vexed
It was considered a failure
It was considered lame
Yeah
Wow
Recency bias
Consider it man
The market is more than just IPOs
More than just one
One month
And it's not just for you, everybody
I have said When I say it again that the greatest
money on the market now is not found in ipos as a retail investor it's not going to be found in
ipos however there is a strategy for ipos that make you money but the strategy is not to call
your money and buy into the ip. Unless you have a reserve class,
that won't work. And the strategy
is also not well. It's not to go
and try and get a reserve class. That won't
help either. Ask the one on the other side.
Brother, it's so
comical, the idea that
no, because I can't
to get the amount I want
in an IPO, I'm going to
hunt for the ability to get
into it it could just acting like the market though exists and then doing that and you're
actually you're forgetting everything the thing that goes up in between whatever ipo and you're
going to try to tie your hopes and all your money into us into an ipo you don't know when coming or
anything like that come on if your goal is not that you you always hear it everybody that with
that ipo only mentality they more a lot more than just the ipo such that you always hear it everybody that with that ipo only mentality
they more a lot more than just the ipo certificate you can give them
so i need to make this very targeted return it's very short amount of time and i'm hoping an ipo
comes up i don't know which one i don't know when i don't know you know about it but
it's enough money to make it's a very short time and maybe the ipo drop from the sky but to be
frank those gentlemen it's the easiest way to make some serious money though you know no it's a very short time and maybe i put you from the sky but to be frank gentlemen
it's the easiest way to make some serious money you know no it's not no sir if you can get the
units you hear that problem we hear that problem we hear that probably not if you can get the units
and you can't when the biggest problem is getting units yeah you strike you're not buying first day
second day by not three dollars oh seven weeks falling you're not you're not buying first day second day buying at three dollars oh seven weeks falling you're not
you're not even getting the reserve class so guess what you don't know nobody there so
five thousand dollars so you have one million you have one million dollars you get five thousand
allocation and they're freeing their money every single morning hoping to get you get
two and some units and you're the guy that buys at four. And you're not going to buy at four.
That's what you say.
And you're not going to buy at three either.
So no, it's not the easiest way to make money.
Yeah.
Because I don't know,
anybody reads me into making the money
then go out there to get.
Yeah.
The people who are making money in IPOs now,
meaning the people who are making money,
the regular retail investors
who are making money from IPOs now on the market,
they're not making it by using the typical strategy.
As I said, there are strategies that can get you that money.
You have to actually use those strategies.
You have to understand the market and get to it.
And I don't mean the no circuit breaker and buy at the latest i know it was an amazing threat big up top striker
shan but reading the thread does not make you a top striker and you cannot follow her shoes like
that she never got where she was by doing that so they actually require work is not easy.
It's simple, but it's not easy.
It's not final to what you do.
Trust me, there is no one way
in fact that we're suffering from. The fact that
everybody decided there was a way, and it
used to work, and why do you think they're bothering?
You're saying it's a sad thing that happened.
The market is the market. This was expected
to happen. In fact, if you check what we've been saying that one day this will happen,
here we are.
Boy, when you were saying how great it is,
I think that we can apply to an IP,
there's a lot of units and a lot of people came to tell us,
one day you won't be able to do that.
We say, yeah, we agree.
So do it while you can.
And now it's gone. You can't do it anymore you can i know it's gone you can't do it
anymore and it will probably never come back i hope it never comes back it should never come back
what we have now is better it's a better system it's better for us better for us better for the
market don't ignore the market ipo is a nice godsend and you can make certain levels of money
around it if you do it right yeah man the thing i used to do in the past the thing about the money
scrape up every single dollar i have that's not happening anymore i want to say a large ipo what they look
like now that's the one to see a good a large good one but then you're gonna have to put a lot of
time in knowing no easy putting out the money so guess what yeah yeah money is time right time is
money that's what you say but no i don't require a lot of time like i mean time put out a time to time into the world all the research and to depends
on you want to do this if you want a lot of this then put in a lot if the money you want to make
if you're going to treat the market like a side hustle then actually treat it like a status then
expect side hustle if you look at it and there's a little thing I do on the side
and I'm not really, I don't want to pay attention to
it, then there's no way in hell you're talking about
100% a year.
Puts in a sports term.
With you, Lennox, I put in a sports term.
You know sports some way back then.
You remember or you'd have read about when
I think Germany in football,
you remember when they
changed football by, I think it was, when they remember when they changed football by,
I think it was when they got 3-4-3?
They played that almost slow, boring look of football.
Yeah.
1990, when they won one-lock against Argentina.
But it worked, right?
And then as a result, what happened after that?
Everybody kind of had to adjust right
yeah i mean it gets results exactly the adjusted strategy worked and then everybody had to adjust
their strategy to get to it and then when everybody adjusted their strategy strategy
had to change again then brazil got tiki taka and then people kill tiki-taka and then you can't do tiki-taka anymore.
Brazil never go, well, tiki-taka don't work so football should be stopped.
No, that's a game changer.
We're playing.
Find a new formula.
There we go.
And I'm telling you as a fact that there are new strategies that work for an IPO.
For a regular investor, not a multimillionaire.
For a regular, normal retail investor, there are strategies that work for an IPO. For a regular investor, not a multimillionaire. For a regular,
normal retail investor,
there are strategies that work,
but you actually have to do them.
And I can tell you what,
the strategy is not.
The strategy is not
me hearing this from a virgin
on WhatsApp or blah, blah, blah.
It is going to require
a little bit more work,
but what you can do,
put in a little bit of work
and you actually see money
coming out of it if you've gotten it and more than that i approve that's everything i say you
take more time you take more time to get certain do the research around the market that's okay so
if you want if it can't be complaining about more time and the level of time and what the level of
time that you're doing now isn't getting what you want then you
can't fix that you're not getting more out of it if you and anybody not willing to put more into it
and the truth is maybe that's why we've been stretching i've been pushing the grouting all
night because yeah that if you know if you might not understand the level of time you actually need
to do the things that you actually need to do.
Because I feel like, to me, there seems to be a gap in you knowing what needs to be done.
That's true.
Yeah, and people tend to...
You might be using the time wrong.
Yeah, people overestimate how much time it takes and how hard it is.
It is not as hard as people think and it doesn't take as much time as people think.
Oftentimes, it's literally just...
I mean, you're doing already and
for at least in my experience for most people
it actually allows them to work less hard.
Easier because now instead of trying 15 different things
you know the two things that work and you only have to concentrate on those
two things. Actually, but it doesn't seem
that way at first just like oh imagine every time the boring every time you take me up to a dca and
you do your thing that randy show you and then you do whatever whatever all them have ncf and
then all them looking different and then you must now decide say they think if you don't know where exactly the thing if you don't
know exactly what you're looking for from what you're doing then you have a problem already yeah
man so yeah so maybe not the time is a problem if i most times i hear people said time is a problem
time is not a problem that's because that's that's how it is most times i hear that i check it and
then boy either i'm doing the wrong thing or I'm just not putting in the time.
Yeah.
Well, Lennox, big up.
I like that you're still in the market.
I like that you're obviously making money.
And just like you, I'm excited to see what the next earnings season brings,
including CPJ's result.
And I suspect that if CPJ is exciting in the next few weeks,
nobody's going to remember that
the guy used to work there.
In fact, I find that people
don't even know that the guy used to work there.
I don't find that news has spoken
a lot.
I mean, they've changed a couple of CEOs
recently.
Maybe Mark Hart is easy to work with.
Well, it's Mark Hart's company,
so it's for them to work with him,
not the other way around, right?
Well, that's true.
But, I mean, you know, you have some boss where, you know...
Yeah, but the game is...
Oh, okay.
But you've seen it work.
You've seen the last three quarters.
Yeah.
Obviously, what they're doing is great.
And after that was Mark Hart.
Yeah.
So... so that was my card yeah so don't think they impact investors are decisions do
what's that I'm like like you know senior management come on go you know
then turn turn over quick how did it make you feel it was it was a little it
never feel good cuz it almost feel like When I looked at it
I said boy
Them money
Two CEOs gone
In no time
So my answer is yes
My answer is yes
Because you an investor
Are being impacted
Though
If you feel a way about it
Very likely
A lot of people
Feel a way about it
And you probably
Should check
What's going on there
On XYZ
But
Don't decide That the thing you feel
away about isn't something
that other people aren't looking at
and feeling a certain way about
it's not a good look but then again if the numbers
them great
I mean
how you analyze that
because
not a good look is just we don't really know
what's going on up to now.
Exactly.
We very likely won't hear about it.
So we don't know why the guy left.
Yeah.
So the numbers could be great and whatever he's leaving for has nothing to do with whatever's going on with the numbers.
Yeah.
Could be that.
But these things influence investors' decisions sometimes.
Yeah, definitely.
If you ask how you feel about it it. So yeah, it influences.
If I am an investor
and I'm influenced by it,
then very likely, right,
somebody else will have the same thoughts.
So yes, it influences investor decisions.
Good, bad, or whatever it is.
But
the same thing Randy started with.
That is fair.
We have no reason for whatever.
We're just tying up two
different things with we don't the things are related but we see this as a news and this as a
news and i'm going to decide how i feel about them being something related when you don't know that
they are maybe so again it could be too much investors why i'm afraid and start jump out and
then cpg coming great results and then big up the guy and say what he did
right before he left.
What he did was to continue because
whatever system is in place now.
So we'll just say that.
Well, we'll just have to watch and see
you, gents.
We'll be watching along with you when you make
the money you come to.
It grew up.
Tomorrow I split ours at a long one it is it is the full one it is the full one so
take the time see if you can if you can if you can sit through it call me in and participate
and i suspect you'll make it through well try it and see try it and see or not it's there um the next split one is in october it is october october uh
25th and 26 that's the next split one and it's on the site now so if you want you can pick that one
yeah man i think never work with that one because i have some something from work
tomorrow i can't hold it all right no problem all right all right big up lennox and um yeah
bless up all right i know somebody else was waiting and i guess them get tired of waiting so
them them jump off guys if you don't mind we're going to give you the same level of conversation
here everybody else so if you can wait wait if you jumped off and you want to jump back on send
back the speaking request i will talk and in the meantime we have the man from japan himself sir
pickles well gone sir pickles let's go boss let me load it same time because you know that how
how was it how was it there sir i slipped bro, I'm tired I wake up on here
I want to talk about them kids
I don't know what
Mind to talk about making billions
But them kids don't know what to test
I don't like that
I saw a couple of the questions
At the AGM, I was watching
It was 12 in the morning for me.
That's because AGM was today, right?
Yes.
Okay.
I saw a couple of things that were already in the prospectus. They reiterated that in their report.
us they reiterated that in their report they discard I think that's correct around some other thing I know it's to the stated stuff which I don't expect
them to give away everything but mr. mr. mr. Superman so for me man I was dying
just dying um but yes I will do there what did he do there?
He asked a question and then he wasn't satisfied with
something and then he said,
I'm very disappointed in the U-Jump.
My first one, very disappointed.
I don't know what exactly.
What was the disappointment coming from?
I don't know.
I couldn't tell.
He asked about the impairment loss.
What happened for the big jump in impairment loss
against a turnover of 10 million?
And then blah, blah.
Anyway, I see they confirmed they're acquiring assets
and not actual company for the quarter.
They said they're not acquiring actual companies? No, they said they're not applying actual companies
i know they said they are acquiring assets that's right what do you say they're they said they're
not acquiring companies that's what they said what they said was that's right thank you sir
they said they acquired assets they didn't explicitly say a company or an old particular
um yet so assets can be interpreted in many ways so they left it there for us to
i guess put dots together i mean a company's honor it was a bit more than that but i i haven't
watched it more than sort of the basic character to the level but i i'm sure what i saw which is
in this same place you will like this side and a bit more than that you remember the exact words that were said, Bigelow?
Exact words?
The only words you remember was our fiscal.
Only words I remember? He said assets, they're looking to acquire assets,
and they spent a lot of time on property plants.
I think that's what I remember. I just spent a lot of time on property, plant and anything.
I think that's what I remember. But I didn't hear anything from what I remember
because I lost feed on the clip as well at one point.
So I was having fun with the live stream.
So what were the assets towards?
I think people listening might not even know.
What were the assets that they're acquiring? What assets are they acquiring? The assets they're acquiring, what the assets towards? I think people listening might not even know. What were the assets that they're acquiring?
What assets are they acquiring?
The assets they're acquiring, what is it towards?
Oh, to LPG.
Ah.
To go to LPG market.
My moment was when the agent, my job partner,
and I hear somebody saying, in the prospectus,
we spoke about cooking gas
going in that direction and we have to get to hear anything about that i must say wow what did i think
lbg is it was it was right after they were explaining that yeah but we're going into
the cooking gas thing to lpg next year exactly so yeah man say and you say oh price of cooking yes yes
what is it now i'm going to lose money
you say the price of gas gone up same me they convinced him to buy his 30 whatever cylinder
and yeah and it would be cheaper but no it's more expensive so i don't want you guys to go there and
lose money we are saying why they would make money right he said petco come on said it was gonna make it
cheaper and it's more expensive now so i guess i guess you don't understand when you don't
understand business the hell of a thing people often think that you have to understand something
i i used to tie two points together.
One, Fesco don't control the price of propane or any other gas.
They don't control it.
The price of oil on the world market affects them just like it affects all of us.
They put a markup on top of it, right?
And they're very clear about that cost. Their control where their control comes in after the gross profit, gross profit down.
Meaning if the gas costs $100 a barrel, they might have to pay $100 a barrel.
And then their business starts at $101 or whatever they put on top.
And the second point I was going to say is something that a lot of people tend not to know also.
point I was going to say, something that a lot of people tend not to know also.
Going to an, maybe I shouldn't say, I was going to say that going to an AGM and asking the company what they're doing about their share price
is near ineffective, is what I was going to say, but I don't believe that's
100% true. But a lot of people don't realize
that most companies and most of the people running companies don't know about their
share price, don't know about their share price,
don't care about their share price. They don't give a damn about the share price.
They might learn what it is before they're going to meet in case somebody asks about it, but they don't know. That's not fundamentally important to them. But as I say, I'm taking it
back, that last point, because a company, in my view, one, should care about its share price.
And they should definitely know about it and they should care about the things that affect their share price.
But most companies now don't care about the things that affect their share price.
Going back to the LPG point, though, and business, if you're going to enter a new market,
the best time to enter the new market is when the product or service that is sold in that market is on a downturn in price because it means that the established players in that market that have built their business up around a certain price level and a certain level of profit are now making less than they usually do.
And if you enter at that point they are now also having
to deal with competition and if you are listed and your competitors are not listed you also can do
all sorts of things to affect them because you have a bigger war chest than they do because you
have the war chest of the market so i would want fesco to go into LPG And anything new that they think they need to go into
Nice
That's break on cash
Especially if it's a market
That they can press
In my dream world
Them going LPG
Them going other
Other gas
In the market
They're a pressure
Pressure mass to list Gaspro, spin-off
Gaspro.
That would be my perfect word. They pressure
them, and so Gaspro
go, hmm, well, we have a list, too.
And then Gaspro,
and then, well, we've heard that, I keep
thinking Republic, but Republic not coming yet.
Well,
what's the gas, the other RPL that's I think
Republic. Regency. Regency I've heard is expected to list soon so that's in the gas market the
liquid gas the LPG market I believe and also I think the petroleum
market so
that's not
a bad sign in my view
I struggle to understand what people
have problems with now
because all I'm hearing is good things
I'm not sure
what there is to complain about
there are really
I was looking at the possibility
like he's complaining about the gas press the the cylinder press he's known has gone higher
to say in my head so that's good for the consumer i guess i guess in in that regard
I guess in that regard.
But he's at Spesco's thing there.
Well, for him, well, yeah, I understand that.
But in terms of the command man trying to, I guess, you know,
cook him food and if he's doing a certain thing.
It has nothing to do with an AGM reason.
Well, hold on.
Think about it from a business perspective, though.
I know you're not the one who said it, Dre.
So, I mean, we're speaking through you.
But think about it from a business perspective.
The cylinder price is what has gone up.
So that means for the common man or woman cooking or using it,
they have to pay more for the cylinder, right?
Mm-hmm.
Correct, correct, correct. The company that comes along and maybe offers you the cylinder for free,
that company would be very attractive, right?
Indeed.
Yes.
Fesco, cut the check.
Can you imagine their competitors if Fesco suddenly cuts out the... We have a cylinder cost, and if the general cylinder cost
is five grand, our cylinder cost is three grand.
And we can cut the cylinder
cost zero if you sign a contract
with us that...
We get a new one every
three months or every six months or something.
That's crazy.
And look at them
that within
that's what accounts
look like
think about that
because they buy
all the cylinders now
and all they go
just
and it's
frozen
can you hear us Randy?
I can hear you guys clearly
but I see that it's
giving me some problems
yeah YouTube is doing
the same weird thing
yeah
but I was looking
at things there
they buy all the they were buying But I was looking at the thing there.
They were buying all the assets, no?
If they think they're... If they buy all of them, no.
And really, the only moving part there
is that they're just in and out.
The cylinders will be coming in and out
on a longer basis.
We consider them sales, right?
And you give them the cylinder price,
everything, whatever.
You're locking the cylinder costs?
That's genius.
You're locking the cylinder costs and you think they're... And if you... Anything you give them the cylinder price everything whatever you're locking the cylinder cars that's genius they'll be locking the scene of course and you think they're and you're doing it and if you anything you give out free though the first of our free or the lower promotion will be scaled across
the whole across the whole seeing the fleet fleet is not over it but whatever collection
i'm saying does it get now so it wouldn't be you wouldn't be it wouldn't like you'd be spiking you
make it because got a new cylinder
One time
When you're selling
A markup one time
You got a cylinder
All your cylinders
Come in one time
And say for three months
All the ones that go out there
Are free
For the promotion
Of what you're doing
Or you could
Or they're
They're a lower cost
You can make a lot
Because you're really
Making money
If you choose to make money
Off the LPG
Versus the cylinders
You don't give a damn
about the cylinders too much right if if they if they use like a different top so that you know
there's a different model yeah then you're good you and if it looks different you do a different
top so it looks different it works for your thing and it's free a markup on gas could be a markup on gas could be a
little bit higher than everybody else they know because my cylinder cost isn't here exactly they
know the gas game already they know the more competitive i i'm thinking it's a more competitive
gas game too they're coming from the they're coming from the side of the gas game where
it's cut through one percent half a percent margin yeah yeah
you have to make sure your price balance out right how much can i compete with that
imagine you had no control on gas price you know you had no control on say you're just say work
with texaco you're not in the you knowesco, so he's not your gas selling.
He's not your gas buying.
I was thinking Texaco gas.
And the Fesco man knows that in him ring, he can drop
prices to a certain level because this is
what he's working on.
But you under-ruled him.
I think he's a guy with Beechwood
and he's getting a hard knock just because
of Fesco under-ruling him now. And he's getting a hard knock Just because of Fesco And the road he didn't know
And him
It's
It's easier for Texaco
Than him
To put that level of control
In there
Him care
Unless
Unless him
Whatever ties
To worry about
This is just
If he's alone
And he doesn't buy gas
From X
And he sells
And he was an old nigga
On this very busy road
And I was making
A bag of gas
Come and get a scan cheap And now Fesco walking and doing the same thing and him can't they might
support that all the money he is getting pressure basically it's the first beach would die right
yeah you think anybody passed fesco beach would and go down to the old beachwood i think people
might still do it but here what people are it No no Somebody said Somebody was talking to me
Yesterday actually
And said
Him stop go
Because whatever
But what him used to do
If Fesco not full
Him go Fesco
But him not go sit on the line
That always there
Here the clinch
So the only time
Go on the thing there
Does he own Fesco shares
Yes
And him still go
Another gas station
Yeah
I'd have to actually Check him stats. I suspect he won't actually do that.
I believe him. I believe him.
It might be one of those things where...
Because the caveat was Fesco made him sit down for too long.
Ah.
Because of the outside B2O thing there. it's only if it's cutting it so you say him saying let me try again but they used to do was and go outside if
no you can't go inside the gas station and i'm good if you're wrong
but here's the dangerous thing though i am under the impression that fesco knows that
so they met them people move hey bro i've never is it ever going to be so far in a minute
yeah let me see them the guys actually calling me out of this line to pull me down say oh
come free i'm sorry a minute yeah and there's why is guess something that's
something now anyway why is guess something that's accommodating when we're on business
yeah yeah and enough big for the card machine is the card
machine is always working if the card is not working it means that the entire network don't
yet you know how much i don't know if we said it once on our earnings season episode
that whoever comes to our gas station and simply always have the card machine working
i think yesterday yes look at fesco
damn and adrian taylor on youtube say I only buy Fesco since I bought shares
Does it make sense?
It makes sense
Is your gas station
It makes sense
It's the only place I can get something back from it
And I believe that they said
recently how many
shareholders they have
I want to say 9,000.
I could be wrong.
I might be thinking of something else.
I may be thinking of another company.
I think it might be 4,000 something, if not 9,000.
But regardless.
Regardless. But regardless, I think there's a built-in bias now for... Yep.
Yeah.
If you're an investor or whatever, if it's a CFS, yes.
I think it's definitely there.
I don't think they said it here but okay regardless
couple thousand well and
they're biased towards
a specific gas station like for me
I always hear people talk about you don't only buy gas
at Shell or only buy gas at Ray
for years for me I never gave a damn
I only buy 87 because
I'm not trying to put
I don't have a vehicle that needed 90
and I buy it where I need it
or where it's cheap second fiscal come on the market first call on but I don't
look at the price it's just which first cake because I also get I also expect
that the price is cheap his first call mm-hmm
imagine and then people are going to the LPG market and lpg is down lpg is done
propane is done from the start of the year only two things really down in jamaica from um
from petrol jam from the start of the year propane and butane everything else is up to the tune of
either single or double digits
and everything else, Fesco sell.
The HFO, I think, what do you call it?
High fuel oil or something like that,
heavy fuel oil is the only thing that's up slightly,
2. odd percent and heavy fuel oil is a side effect
that is asphalt and Fesco sell that too
damn yo remember a couple months ago and we hear that this company must fail
remember brother that's a funny guy so i mean was it one guy
I mean Was it one guy?
We got a lot of Fesco
I think it was a Faze
It was a goal
So Dre, what else you like
Outside of Fesco?
I always have to ask that
I realise you like Fesco
I'm not in it
But I like SVL
So I saw that
You don't like it that much
no you can read that you tell me something you really like something you're willing to buy
are you about already we really like what do you mean i want i want i want to go into it
hey so you say like something else more because they drive orders in other things right no i'm only
in three stocks the three of those three stocks you like them more than sv man down to three you
know you know britta every every month enough more come off yeah so yeah coming from if you
get more money if you get more money
now you're going to
have more you have
more stocks
imagine going back
up why
no i don't imagine
going back up
your whole problem
for months was why
i have too much
so why are you
waiting there
yeah because
and then if i had
if i had stuck to
one i would have
been you know
astronomical i would be i would probably be a doctor field right now but you know getting to that and then if I had stuck to one, I would have been in a astronomical
I would probably be a Dr. Phil right now
but we're not getting to that
If you stuck to one, fuck
I'm stuck here, I'll be a Dr. Phil
That's good
So you're choosing SVL
outside, if you get money tomorrow
because you don't have it because you don't have a dry powder
If I get dry powder, you're not pod I not buy any other tree you're
buying a sphere and I buy a sphere because I like three ah
hmm
I say messes are sweet we'll be making the same amount of we'll be making more money
on buying one of the things you have now than buying svl in the same time
that is that is it that is it you don't decide that before you before you decide to buy it just
buy it that's crazy i need to yeah but I like I like the
what I like
is real
because you
asked me
why I like
it so I
can answer
the question
sure
I love it
because
um
the
although
although
Randy had
said something wait let me finish down just jump Randy had said something
let me finish
Randy had spoken about
but they actually came out
and said they wanted to be
recognized as a fintech
company
when did they say that?
when did they say that?
does it last?
it's an article
from the Green Observer stating that When did I say that? That's the last. That's our article.
From the Green Observer,
stating that they want to be seen as a regional... I don't want to misquote you because you guys obviously
are going to be accurate when you speak.
Hold on.
Let's double check here.
Let's double check here I think it was March
No, no, no
Where is it?
It was a recent article that I saw
I can't remember right now
I saw the article this week
Posted in a particular
Group
And there's a saying that talks about
They want to increase their
It's one of those
I want to look at some of the posts
The wording of what you're trying to say is important
And you want
At least for me what I want to know is
If
Did they say it or was it said in the article
that's two different things you know meeting that sorry
you said i want to be seen as a fintech company
s feel deeply in financial presence.
Wait a second.
Supreme French
deep in technology and investment
space. That article.
Yeah.
I see it.
I'm saying chaos.
I see it.
I see it.
Boom.
He's looking to expand his platform to his financial technology subsidiary.
So hold on. Supreme Ventures.
Boom. Let me see. Let me make sure we're not talking
crap. You could have gone Supreme
Ventures.
On my money, J.A.
It should be there.
Let's see what happens
deepens yeah three days ago right here so much simpler could have been um
remember the resources i have at my disposal you should sir uh no you said that that they want to be seen. I can find it now.
He tells it.
Find it now and tell it.
You said the average person sees
as well as a lot of company.
We don't see as well that way.
We see as well as a transaction platform
with lots of bolted on.
Basically, what the shareholders will see
systematically over the increments
of six months to a year
is where we'll be bolting on additional businesses onto that transaction platform, stated Executive Chairman of the SVL, Gary Peart.
Gary or Gary?
Gary Peart.
Is this the same article? Why can't I find what you're reading in there?
Is it the same article, Peter?
No, no, no. No, no, no. are the same as the computers deepening financial presence
from observing different that's how it sounds like different as today
deepening financial presence. It's like an older one.
Ah.
I was right.
This is from,
who is it from?
I'm trying to see.
As in,
what are you reading it on?
It don't have it up top?
Brother.
This is by David Rose.
So it's probably Observer.
David writes for the Observer. So it's probably Observer. David writes for the Observer.
So let's see.
I'm surprised.
David, the Pop-Up Community already know him. As much as you write,
you know them all.
Again,
I'm going to ask you, what's the title of what
you're reading?
Dre? Oh, that's a good i just i just closed the whole thing
well that'd be so easy.
Yeah, man.
You can also share it to Twitter with the hashtag BrickTalk so everybody can see it.
Or you can share it to me and then I will have to go through the trouble of sharing it with everybody on Twitter so that they can see it in time. Because I'm sure a lot of people care about SVL
or are interested in SVL.
Just a little bit of a big talk.
Hashtag.
We are focused on the strategic imperatives
currently underway,
and we have also invested in KEO.
It's an action that is independent of the general fintech development we are always looking at lucrative opportunities
to expand our business you know what a lot of times you hear dan and i talk and we hear reference
things from the old earning seasons um podcast episodes you guys want to see those episodes
you go earnings seasonpodcast.com
and there are a lot of things there for you, right?
A lot of things. Everything from episode one to now is there for you.
Now,
one of the things that we do a lot is that we reference those
things on it. I'm pointing that out because I want to reference
this point in the future.
I don't know if we've mentioned, I don't know, have we ever mentioned
Kio on this?
Kio, yeah, we have mentioned Kio. We have on Brick Talk.
Brick Talk, yeah, man.
Yeah, man. Tapwell came in one week and had us looking.
Ah, yeah, no, he asked about it. Yes, yes. And I remember thinking, I do not
want to talk about this publicly, bro.
Why are you bringing this up?
But as much as I might not want to talk about something,
people talk about it.
Randy, you're breaking up.
You're breaking up.
I don't know if it's me.
I don't know.
Is it you, Randy?
You can't hear me clearly?
Yeah.
Yeah.
I can't hear you clearly, no.
I'll wait a couple seconds. It's annoying because I can't hear you clearly now I'll wait a couple seconds it's annoying because I can't
hear you guys very very clearly
how about the guys on YouTube
can you hear me fine It takes a couple of seconds for YouTube.
So YouTube tells me that they can hear me.
If I'm done, I can hear me.
No?
No.
Oh, you're not.
Still breaking up.
All right.
I understand.
Hold on.
You're getting a bit... See, I posted is in the Drum baton there
In the screen
Give me three minutes of water. Can you guys hear me again?
Biggles, can you hear me?
Hmm.
That is... Okay, thank you.
I see Dana had to jump, get up for a second.
You say
you shared it
with the Brick Talk tag?
Okay.
I posted it in the...
Okay.
I will also share that tweet with everybody okay svl deepening financial presence first let me so if you're in the brick talk space on twitter
you should see it shared there because i just shared it to the space and um
and and and I will also bring it up so that everybody else can see it as we go through it
but finish your point around it
I want to hear what you're thinking
and then I'll have my points
right
I was in a weird one
that we had again
that they had actually stopped scratchers
uh um based on what David is saying here that stopped then they plan to reintroduce it
um but the fact that they don't want to be seen as a fintech would mean with all with the platform
they already have and the synergies and the partnerships um i think i think i would learn you can get to learn
subscriptions and you can apply for learn stuff through their svl machines at the svl machines
and a lot of dispatchers you have the k-manus as well which is the back the gaming machines
that's again like you can actually pay for learn i mean eddy focal like people can pay for learn, I mean, Edifocal, like, people can pay for Edifocal. For the kids.
At the SVL machines. Of course,
there's still some credit there. Other things,
just the whole
seems
that it is,
although you have
hinted at it,
it is actually coming, things are coming
into fruition, and
it's becoming more clear. So, things are coming into friction so
it looks like
and of course
they literally said they are going
to add more stuff
to their already established platform
in terms of
finance so they can be seen
as a fintech company
as opposed to a lottery in terms of finance, so they can be seen as a fintech company,
as opposed to a lottery, known as a lottery company.
So image and perception is important to people.
So, I mean... Wait a second.
Wait.
Sorry, I missed that.
What?
They say they want to be seen that way?
Yes.
As a what?
Fintech
Company
As opposed to a lottery company
Say the actual line
Now that you have the article
Say the actual line
I'm not lying
Where did I say that?
It's at the start of the article I think I I think from the very start he says, and I'm quoting,
Don't use the platform and digital presence to its financial technology subsidiary Supreme
Ventures FinTech Ltd. which would include bill payments, loans and other financial services.
So no, the very first line I think is what you're talking about, where he says after
that, the average person sees SVL as a lottery company.
We don't see SVL that way.
We see SVL as a transactional platform with lottery bolted on.
And basically what it shows, we see systematically over the increments of six months to a year is we'll be bolting on additional businesses onto that transaction platform.
Six months to a year.
When did he say that?
After they recently had AGM withdrawal.
Simplicity.
This article is from June, the middle of June.
I can't see the date on my team. I'm telling you, June 16th is the middle of June I'm telling you June 16th
is the date of this article and I assume that maybe that a conversation a week or
two before or even a day before it doesn't matter that's maybe roughly
three months ago yeah okay so if he says six months to a year you see an
additional business is bolted on And he said three months ago.
So I would be accurate now saying three months to a year, right?
Three to nine months.
Three to nine months.
Three to nine months, I already got three months.
You're right, I added on additional.
I'm thinking of, yeah, it's all right.
Yeah, sorry.
Yeah.
Six to nine months.
I wanted to point that part out.
And I think the part that you're mentioning, Drew,
that you started with, which is why we asked you
what did they actually say, was where he says
the average person sees it as a lottery company.
They see it as a transaction platform with lottery.
Or sounds very similar to what I say that you know their infrastructure that's why i've always seen
them i've seen them for a while not always and um these days i say that they're a bank that sells
lots of tickets uh but but yeah dre the point why i'm pushing you to be exact about what was said is because, as I think you know by now, a lot gets added on to what people say.
And that will be a different kind of important.
If they actually said what you said they said, I'll be looking in the other direction too.
And I suspect these guys are, it's not suspect, I think we've seen just from history that these guys are very careful with their language, they know what they're saying.
They're not loose with their language, they're very careful when they're speaking.
And so what you said would be-
I put down the robot filter.
I put down the robot filter again.
And so what you said would be... I put down the robot filter again.
If you hear me clear, I know.
I think pretty much they are
sensible to what they say.
They're very careful with what they say.
So you want to be clear on the things that are said
directly from the people
in the company versus the things that are
said that they say or
assumed about what they've said
yeah that's not to say that i don't like svl i know how i know
you always stay also in the local market okay
it's not that simple not that black or white but dre i don't really
think you really like it because i can say you don't really own any i'm gonna read you like it
so why you don't own any i not take all the money You know it works You know it works
You say if you had money tomorrow
You'd like
If you were sitting in a
I'm talking to you specifically
Why it works for you
Because I know I'm more close to what you want to demand it's not everybody it's not everybody i'm looking
at them saying all right you were cutting down but if you get money tomorrow the reason why we're
cutting down before do they change because you have three stocks comfortably now right
and coming from from three three different index one where it stops
so if you're looking at it you're cutting down for whatever reason based on your goals and
whatever you need to get out of this why then we the moment you get more money you decide that
i need to get something else are you making more money on the s in the same timeline that you're
looking for are you making more money on the same timeline that you're looking for?
Are you making more money on the SVL purchase with this brand new money?
Or one of the things you own currently?
And then
if the answer is
yes, then it questions
why are you sitting in that next thing?
If the answer
is no, then why are you buying SVL?
And there are valid answers just
you have to actually have them
it's not just a cool
this situation xyz
it could work for you it could not
but then actually give me a reason why it worked for you
why the thing you're doing works for you
you're doing for your portfolio
we had the same conversation with Big Boss last week
around your JetCon play that's true portfolio. We had the same conversation on Big Boss last week.
I only reject Conflate.
That's true.
And,
Drake,
remember,
it's not the first time you've been bringing
your portfolio down.
Tell me,
because it's the ultimate
argument of whether or not
it's sensible or not.
In the time that you have
been doing that,
bringing it down from
18 stocks,
following the growth principles,
now you're down to three.
Have you made less profit
or more for profit
i when i brought it down i i have a caveat i would i made profit and i made a grave
era of sitting and watching and um i didn't um realize the profit. So, I kind of made a slight regression.
Say, make more profit saying that you don't take it when you realise the pulse is there.
I can't.
Get the money you want.
Yeah. When you want to get the money, say no bother. You want a little more.
That's crazy boss Yeah I mean
You know
If all the way
You learn
You get burned
So you learn
Once you know
It doesn't make
The same mistake
Twice
So
I hope so for your case
My money
Money is a hell of a thing
I don't want
To have to learn
The lesson twice
I don't want
To have to go through
Something to learn
That's it
I don't want
No
Especially if I make
The money I want
I've been fired already
And I'm sitting
Down waiting on it. That's all.
Silly
rabbit, yeah.
I mean, I've been there and I've been there, so
let's make sure they listen from it.
No one listen from it.
Properly learn, man. Properly learn.
All right.
See, because I know you'll be there and I know
as long as Fesco is on the market, you will
be too. What's going on with the audio? see because i know you'll be there and i know i know um as long as fisco is on the market you will
be too uh
what's going on with the audio it is yeah they look like
in the meantime sir conroy conroy robinson
you know what, Conroy? What's going on?
Conroy?
I have a new Conroy.
I don't know. Maybe Conroy is not hearing me.
Conroy, are you hearing?
I am not hearing. Conroy. Con, maybe Conroy is not hearing me. Conroy, are you hearing? I'm not hearing.
Conroy.
Conroy.
Yeah, my desk.
Yeah.
Yeah, but you know, my press the speak, the mic option by accident.
I'm not really in the position.
I don't really want to talk about anything.
Not right now still.
Okay.
You want to talk later?
Yeah, maybe later I'm going to jump on.
Because I'm kind of doing something right now. So I'm going start going listening right no problem all right big up all right cool cool
yeah no problem um anybody else anybody who does want to talk about
that or anything else um you can hit the hands up no you're not handle button you can hit the
the request to speak button and we'll talk about this or anything
that you want to talk about on
the market today i see somebody this week or anytime in the past or the future i remember
we are still under the um title of falling short so how you feel about shorting on the jc that's
especially where the people who...
Where the people who...
I don't know what's happening.
It's a bad internet night.
Where the people who had that exciting thing where they're like,
oh, you know, one of the things about the local market is that...
Local market not sophisticated enough.
Sharding is a very sophisticated thing to bring to the
market.
This really brings
a new layer
to the market.
Shorting is often a type of
other type of sophistication
that you bring to the market.
It's where it just
in theory economists should love it and those that lean in that direction based on what it does for
for a financial market the ability to short i found that weird you remember when we're
talking about i think about two years two years about two years before COVID, we were saying that the market should get short.
We were doing COVID in 2020.
I think we were saying that this is proof. They had all their
reasons why not. It's proof that we should have shorting on the market. I remember actually reading
an article from an executive in the
financial space who the person was saying that,
thank God we don't have short-term investing on the market.
And the company where that person works, their share price went on to tank.
And I thought, wow, damn, I have no idea what they're talking about.
Why would you not want it in the market?
In fact, it is a guarantee that any market that doesn't have it will crash at some point
in the future.
Shorting is actually a release valve.
And in terms of the money in the market, it's like moving from chess to 3D chess.
It opens up a whole other...
I wish there were more people who had...
If anybody in the...
in the JSE charting course,
you want to talk about that.
I love talking about it.
There are certain things in there that I wondered about.
Like the requirement, specifically...
One of the things is that the requirement for its link to they're not really here to say that it's linked to the idea of not
having naked shorts right and so you have to be able to identify the security, the exact security
that is being shorted. Or, in a more advanced market, or a plan to be able to have the security
on the date where you legally have to have the security, right? So you know, the short is simply, not simply, but the short is that, a key part of the short is that on that date, you have to provide the units or the money that can buy the units back to the original owner of the units, right?
So your contract immediately needs to say that, but then that allows another contract to say that I guarantee that I will provide the units on that date.
That's like a whole other layer.
And then those two contracts can then be traded for a price.
And often, they are traded for a price.
Cause and puts. But honestly, I'm so scared of how it could be implemented in a weird way or a bad way
that I'm afraid to talk too much about it.
Because there's so much there.
There's so much there.
Because even if you've got JSC, depending on how they do the short. Then you can see who has a lot of
other side of the business.
What do you mean?
You didn't say that.
It's the thing there.
Read it again.
The flip side contract.
They guarantee you provide.
But you could have that also.
I know.
Exactly.
There's a lot of money that they make. Let me say this and then i'm gonna talk to the top i don't know that
who is it for 30 but let me say this and i'll talk to you
um and i'll cut in a little bit than i where
the strength with which i have heard it said including from
the top of the street
first bigger I really hope she pushes especially as a legacy thing but the
strength with which she said we will certainly not be allowing certain things
including naked shorts and the strength in which out of your own they were like
yes and even at the workshop it came up and that's one thing the doctor spoke
about the guy's a doctor the things the doctor spoke about.
The guy's a doctor.
He said, not Dr. Streetforest, but the guy who did the course is a doctor.
He spoke about, you know, the dangers of naked sharting.
And that is too complicated for me to go into or even want to go into here.
But he spoke about the dangers of it, which made me think that it's a key point that has been mentioned internally for the
go to this thing and if you understand that the other something that we're just
talking about that's why I don't really want to say anything because I don't
want I don't want certain things that should be included and naturally happen
with the derivatives market but with the short
thing the intro to contract I don't want it to not be done and part of reason
why it's not done is because those guys on Twitter were talking about it on that
show like I don't seem sick I don't know about that kind of reach but I would
rather not like I'm afraid bad so
I didn't want to explain it fully but I know that the JSC has declared that it
will not allow naked shorting and just so that nobody misunderstands I am not
saying that I am for naked shorting either all right I'm not saying that I'm
for that I understand the dangers of it and I am not saying that I am for that. I understand the dangers of it and I am not
saying that I am for it at all. I am
literally not explaining
the thing that I'm excited about. You are not going to be
able to pick it up from this
and I hope the
JC comes with a shot. Having said that, what's up?
I always
4-11 on Ramo.
4-1-1 on Ramo? Yeah, yeah. 4-1-1 on Ramo 411 on Ramo 411 on Ramo
411 on Ramo
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411 411 411 411 411 411 411 411 411 411 411 411 411 411 411 411-DHALAWIYYIYIYIYIYIYIYIYIYIYIYIYIYIYIYIYIYIYIYIYIYIYIYIYIYIYIYIYIYI I can hardly hear you though Randy breaking up a lot yeah it's coming through the space
everywhere else is fine
so YouTube is fine
I'm not really sure what the actual issue is
I'm not sure
it's the space
sorry Ramon
I'll try to figure it out in the meantime
yeah
I guess it's on the line of what you were talking about
you know as someone who is not an expert investor and implement, as you rightfully said, a lot of persons were especially on Twitter were talking about it, that our market isn't ready for shorting. sharting and most persons outline some of the issues that they found with it and
how it would increase the volatility
of the market and so
and for one I'm a
person I don't know anything about sharting
I don't know how it works
I was even listening on the
Kalila show where they were saying that
there would be certain
specifications as it
pertains to shorting,
as in only certain companies will be allowed.
So they say they have certain guidelines as it relates to when it is implemented.
So my thought process or my thinking or my question is,
for someone who isn't versed or say quote-unquote an expert on investing
with shorting in the market now
does it change the perspective or
how you go about investing
on the JCE
JCE
repeat question boss I'm not really sure I get any
no so I'm saying um because they're saying
that shorting is usually for investors who have a certain risk appetite that's what i heard
right risk tolerance and so forth so i am saying that somebody who is in verse i mean
not have that certain level of risk appetite and you go about your usual day-to-day investment,
do your, say, based on the level of investment expertise that you're at, the implementation of something like this, does it grossly affect the market?
It will affect the market.
It affects the market.
In terms of being a risky
thing for you if you're not doing it,
that's not that.
You're not getting
any new risk because
the thing they're saying
about shorts being risky and for certain type
of investors with a certain level of risk tolerance,
that's if you're going into a short nothing to do with if you're just an investor and
you're not doing any shorts that's a completely different situation but shorting in the market
will definitely change the market things will happen differently on the market right because
i think i saw somebody tweet i don't remember exactly what they were saying, but they alluded to the fact that they feel like shorting will only benefit the bigger players in the market.
That's the thing, I don't know much about shorting.
So when they say that, you know, that's why I'm here seeking clarity.
You'd have to ask them why they would think that.
I don't think that at all.
You'd have to ask them why they would think that.
I don't think that at all.
If it only benefits the rich people,
then I would think it's from a point of maybe only the rich people can do it.
But if it's open to everybody,
then I don't think you're going to benefit
any differently than they,
because it's the same opportunity.
It's not just you and them
from starting the same stuff, right?
Right.
So how does it work exactly?
What do you mean?
Shouting.
I think you should check it
before you jump on.
All right. What do you know about shouting?
Tell me what you know about shouting.
Most persons, I read it
and I've heard persons say it.
Persons have said it to me
and I still can't
I don't know.
I'm a type of person
I like to see things
for myself.
Alright.
People are saying it
and like
I don't get
how do I make money
from doing it.
Alright, watch this.
Because you're banking
you're banking on a stock
falling.
I can piss off
a whole lot of people.
I can piss off
a whole lot of people.
So at what point do I...
I think a lot of people don't know,
and I think it's easy.
Oh no, I'll give you my example.
No, I want you to give me an example,
but I want to...
I want to say it in a way...
Okay.
Let me give you the trouble first.
I suspect the reason why you don't know is that I've heard a lot of people explain it to us, but...
I've not heard many people who actually know what it is explaining.
I suspect a lot of people have learned the words to repeat.
If you Google it, anybody can Google what charting is.
You'll all hear the same thing.
Really?
Right?
It's when you make...
They have a current one that they say,
a popular one now that...
I forgot the term.
I've heard it like four times.
I know it has become the new dark horse term, right?
Everybody repeats it.
Essentially, you earn from the downturn of a stock.
I'll try this forward charting.
I wanted to be clear with you on here because I know that's like free food for a bunch of
people to hear somebody teach in a class to say my words. if I have 10 mangos right and you have right and then I says you wanna have a
much sorry you have zero mangos and then I says hey want I'm not gonna eat these mangoes until next week Friday
still clear so he only needs the mangoes next week Friday cool mm-hmm you said to
him give me five of the mangoes and I will
make sure that you get them back
or you get the money to buy back five
mangoes next week Friday
in fact I will sign a contract that says I will give
you back
five mangoes of equal value
next week Friday
understand that so far?
yeah I get what you're saying.
That's all short is.
Like literally that's it.
A short is literally just...
I apologize to all the experts screaming.
A short is literally just that contract that says,
next week Friday, I will give Danai back five mangos of equal value so
next week friday then i will still have 10 mangos right no i never have any money to buy five mangos
so he gave me those five mangos for the cost of maybe just one mango as a fee so to deny from the night side what he means is that next week friday he's still gonna have 10 mangoes
and he's also gonna have the money for one extra mango which he got as a fee
so that's the benefit to deny for doing that side of the chart to me
i take those five mangoes and I immediately sell them for $100 each.
Because I know that next week, Friday, the mango truck is coming and the mango truck sells mangoes for $20.
But when the mango truck is here, people from Kingston, as stupid as we are, will pay a lot more for these things.
So I sell all five of. And so now at that point I have $500. Right? And next week, Friday, I am going to
come because I am trusting that the mango truck is going to come like it always goes.
I'm going to buy back five mangos and give back the night.
He's got me plus the money for one extra mango,
which I promised him as a fee.
That is the other side of the short.
So the way I make money is if the mango truck come and I, I sell them for five,
one,
five,
100 each to have $500.
If the mango truck comes and I can buy
back those five mangoes for $100
for all five, the difference
between those two
is the money that I would have made.
That is again
pretty much banking and it's up to
fall.
Exactly.
You see, that's why I wanted to ask Exactly. Come to grow up.
You see, that's why I wanted to ask you
because I need to grow up.
So I know when you explain
things to me,
I usually get it a lot easier.
I don't know. Because you're the
first person to explain it to me
and I can see it.
I can see it and
look at it and understand what you're saying to me now. That's because I actually understand what I can see it. I can see it and look at it and understand
what you're saying to me. No.
That's because I actually understand what I'm talking about.
Randy might be the first person that gets it.
You're the first
person to actually say to me
and I can understand
alright, this is how I
would earn from doing
shorting because I've had
persons say to me
when I group chat face to face and I still never goting because I've had persons say to me when I group chat
face to face and I still never
got it because I say, how?
Why am I banking?
Because since I've been investing
I've always heard it's all about
capital gains and
dividend
yield. So why am I banking
on a stock to fall and how
do I make money from that?
But now that you've explained it,
I fully understand now.
And well, let me make it clear
that when I say it's a whole new world,
that is just the early, simple part.
So like one of the fun parts
that I always like to talk about is this.
When you,
when he gave me the five mangos, right?
And I sold them,
I know how much, mangos, right, and I sold them, I know how much they cost. $500, right?
I can do whatever I want with that $500 for the next week.
Suppose there's an IPO, and I put the $500 in there today, and Monday the IPO go up,
Tuesday it go up, Wednesday it go up, Thursday it go up.
By Thursday, it is up
250%.
So the $500
is no longer just $500.
The $500
is no
$250.
The $500
is no $1,250.
Right?
And then on Friday,
the mango truck comes
and the mango truck is selling mangoes for
$20. I take
$100 out of my
$1,250 and I buy back
five mangoes
and I give it to Danai as per the contract.
Plus, I give him an extra $100 for the fee. But he got that Danai as per the contract. Plus I give him an extra hundred
dollars for the fee but he got that upfront as per the contract. So instead of banking
on the difference between the 500 when I got it and sold it and the 100 when I bought it
back, I've actually taken the money that I got from selling it, put it in something else,
actually take the money that I got from selling it,
put it in something else, make 2.5 on top of that.
And that has nothing to do with Danai because it's none of my business
because all I have a contract with him
is the contract saying that I am going to give him back
his five mangoes next week Friday.
You understand why I said there's a whole new world there?
Right.
Here's another level of it.
I have a contract that says I will give him back $500 next,
five mangoes next week, Friday.
Suppose you, suppose I come to you,
and you also know about a mango truck that comes every Friday and sells for $20, right?
And I say to you, hey, I'll sign a contract with you that next week Friday, you must buy me five mangoes for $25 each.
You will probably take that contract, right?
Because you know that, yo,
if I take this as a contract
that you must sell me for $25
and I must buy it from you for $25
and I know that I can get it for $20,
you would probably take that contract
because, yo, the difference between the $25 and the $20
is your profit, right?
It is.
No, when you sign that contract where you guarantee that you're going to sell me five mangoes for 25,
I now know that on Friday, when you come to me with the five mangoes that you must sell me because I paid you the money,
then I just say, oh, don't give me, just give me.
Then I.
So then I get his five mangoes because of the guaranteed
contract that I have with you.
And I still took the money I got on this week
and still did the IPO.
And you still got your profit out of it.
And I still got my profit out of it.
And then I still got his profit out of it.
Then he got to keep his 10 mangoes.
You see how there's another layer
just to the same charting contract?
Go ahead.
Now suppose somebody else have a mango farm
or they know of another mango source
and then pretty sure they can get mangos for $10
and then realize that, yo, somebody have a contract selling where they're guaranteed a buyer for mangoes at $25.
They might buy that contract from you for maybe $25, right?
Or $20 or $23 or something, right?
right? Or 20 or 23 or something, right? All of this is sitting on just Danae's five mango contract with me. So I say the difference between chess and 3D chess.
Yeah, it's a brand new world. And I cannot understand the people who supposedly understand it but um all right all
right no randy so you look at it like that going back to your original scenario after of it being
the mango being a hundred dollar and you short it and it and it goes down to you sell it to a hundred
it goes down to 50 you sell it back get no no what if the mango action
i want to be clear here we haven't really left the original scenario we're still
there i'm just saying it's the same scenario there's just different layers within that
very same scenario yeah man i get that i get what you're saying and i got that
but i'm saying what if you bank and the price going down
and it actually goes up?
Then you lose money.
And that is why people say sh**.
Thank you for reminding me I should say that.
The flip side is,
suppose when a mango truck comes,
suppose a mango truck doesn't come,
so I have to go to the supermarket
and buy the mangoes because I have a contract
that I will supply it and I will find mangoes on Friday. When to go to the supermarket and buy the mangoes because i have a contract that i will supply then i would find them was on friday when i go to the supermarket
we're selling mangoes for two hundred dollars each and i i go to supermarket on tuesday
because i hear that mango truck wasn't coming i'm saying you know that are crazy
wednesday go back and say oh we're now selling mangoes for $400
each.
You realize that
there's no limit
to how high they can
charge for the mangoes,
right?
Higher above,
the higher above
$100
that each mango costs.
The more you're losing.
Exactly.
And there's no limit
to how high it can go. So, exactly and there's no limit to how high it can go
so technically
there's no limit
to how much you can lose
on that side of a chart
which is why it's considered
dangerous
or as a gentleman said
and during the session
I know one thing
it's asymmetrically
risky
so when you buy a stock and sell a stock normally the risk is the
ultimate risk is that the stock goes to zero that will happen but the ultimate risk is that the stock
goes to zero but you can only lose all your money 100 when it comes to sharting the risk
can is greater than 100 you can lose much much much much much much you can
you can be on the hook to repay much much much much more than you
you got at the start of the contract basically
and that is the flip side of stocks stocks can go up no matter what
so it can there is no cap on how much
money the stock can be worth
but you can only lose
100% of your money
the next way around
to the most you can make it 100%
so it's a very
high risk business you're entering
when you go
it's a higher risk than normal you're entering when you go. No. It is a higher risk than normal.
It's the risk you're looking at exactly.
It's higher risk than...
You're measuring the amount of risk you can take.
Yes, the risk is higher.
The actual doing of the thing,
you have to look at the risk of that situation.
So, shorting grace might be less risky or more risky
than shorting the
siboney.
So how you said it in terms
of it being a time period.
So say it
is going up.
So is it that unexpected
return of those that
was borrowed? Is that
particular point in time you return it and
pretty much you just have to pay out all the money that you've lost
say that again i have a whole lamp on no in terms of the shorting period can you look at it you
borrow you borrow the security in the contract there is a time period as to when you should
return it.
Or you decide when you
want to return it.
The contract says
that you have to return it by a certain date.
These things are contracts with dates.
So on that date,
you know.
Okay, I understand now.
Yeah, I see what you mean.
Yes.
Okay.
All right.
Yeah, yeah.
I get you now.
But even within that space, there's also the option of...
Trust me.
It's 3D chess.
It broadens the market completely.
And just on a core level, it allows people to earn even if the market is falling
even if a stock is falling and on a business level it is great because it introduces the
concept of greater scrutiny in a company so investors are not
actively looking for any company doing something wrong, something bad, because I could start a company doing something bad.
And once everybody knows that it's doing something bad, or if I make it known that the company is doing something bad,
then the company is likely to be in trouble or in a bad space.
People understand, and they're likely to react as they react when they think something's wrong with a company,
a.k.a.
heavy sales, which pushes the share price
down, right?
Which would then be good for me. So now you're turning every
investor in the market
into a possible
security guard, which
increases
the legitimacy and the strength
of the companies
on the market. Because anything
that's bad, you can say,
you can't have a problem, no.
Okay.
So now instead of everybody
saying, oh,
this thing is hype, but the hype
is soon dead off. If you believe that, short it. Short it? Yeah. If you really believe it, but the hype soon dead off if you believe that shot it
yeah if you really believe it the hype's gonna get off it it it it's not putting the money where
your mouth is on the flip side everybody talk when something going up everybody talk or anything there
now it's time for it to go down can you if you if you really believe that
make your money on it maybe that's why maybe that's why um you kind of
pretty it's not like it
no again because they're always in something bad
but now if you really think it's bad shot it because if it's bad you'll make money god damn
before we could just say something's bad i never really matter with it if it's high well it's because you know the market is it's irrational but it will still
catch up with it okay when is it going to catch up with it with sense chart for that day
but it's always a funny thing it but you know a sad part about that? That happens on the flip side. It just goes on that way. It's the same
thing. It's
you guys are stupid. Why
isn't JMNB at 60?
Are you buying
more JMNB? No, because
you know because
somebody else must buy it from you.
But it's such a good buy for such a long, long
term. Then do it.
If you really believe that, then do it. Right?
If you really believe that,
then you should be buying.
You shouldn't actually be here complaining.
I saw something about that, you know,
apart from, you know,
Randy would have said in terms of the whole dilution with the deal with the APO,
and I saw someone had another take on it
JMNB trades and the Trinidad Stock
Exchange, right?
By the way, you can jump in whenever you want
I see you have your hand up
but finish your point
And then
I saw someone was saying that
because
the Jamaican dollar
is pegged to the US and I think they say the
TCC isn't, the Jamaican dollar is pegged to the US.
Jamaican dollar isn't pegged, not for decades. You mean there's a relationship between the two.
Right.
Yeah, because they're very different things.
To have a meaning.
Right, sorry.
So they were saying that because of the USD relationship with the TC dollar, that is, so a lot of the Trinidad investors tend to sell off JMNB to gain No man, no, no man. That was said yesterday at the AGM. Really? Who said that?
Yes, sir.
I can't remember the other guy. It was either the chairman of the board or Keith Dunne.
From within the company, you said?
He said it yesterday, yeah.
Give me what he said.
And it wasn't exactly what Top Physio said. And it wasn't exactly what what what Top Physio said.
That's him
whole argument.
Sorry.
Can you tell me what was actually said?
Yes.
He said
that
because
the company is cross-traded
and US
dollars are
difficult to
come by.
It's difficult
for businesses
to get
US dollars
in Trinidad.
They will
sell,
sorry,
they will
buy GMMB
in Trinidad
and
cross-traded
in Jamaica at a lower price than they bought it for in Trinidad
just because they can get US dollars in Jamaica.
And so that has the effect of keeping down the stock price.
And it was brought up in the context of, you know,
people are asking why GM&B price don't go up.
I would hope that GM& is charging GMMB then.
Right.
Having this clear knowledge,
because they would, I would...
They are in both markets.
They are in both markets.
So I take it that they are,
that they have the first hand knowledge,
the company.
They are broken.
And it's their stock.
Broken both markets.
You know, it brings back to me.
Remember we were saying both things there.
I don't know if you said it publicly.
I think you have said it partly publicly.
Remember in the whole QWI,
QWI has an account in Germany.
An account in Trini.
Remember that?
Yes.
Yes, they do trade training
stocks oh i so what i'm saying now is anybody that knows it's the finish event and can as the
management of the company come to an agent and speak then i hope you
what was the question
stop it
it doesn't even
give me the point anymore
come on man
Jesus
what was the question
stop it
no
that was it
I want
because
we were talking
about
J-Man B
and that point
I remember
I don't remember
exactly but
Brick
what's his name
Brick Cutter said it exactly, but Brick, what's his name?
Brick Cutter said it exactly how I saw it.
Exactly how I saw that.
Because of the difficulty in getting the USD in Trinidad,
that is why they sell it cheaper across.
Oh, wait, Marco.
Tell me, big man.
If I'm underground in Trinidad, I sell bread.
That's my business.
And I need to import flour.
I need to get USD for it.
I then become a stock market expert that decides that I'm going to buy J&B shares and sell them over.
That's what happens.
So they do some arbitrage, but they don't really care about the price.
It's not necessarily successful arbitrage. But the point of the arbitrage but i don't really care about the the price it's not necessarily successful arbitrage but the point of the point of the arbitrage is the point of this is
it's to get some use to you right in jamaica in jamaica and get it back what did they do
i have no idea what happens after that.
But that's along the line.
I saw someone saying that is why it's difficult for the share price to move.
Yeah, man.
But you know how much money that is?
How easy is it to say?
Anybody try?
Anybody try saying them USD, them bugger USDs that they needed
for this heavy thing?
Can I call it again? Equipment order or...
I have bought in Trinidad.
Raw material order.
I bought stocks on the Trinidad
market and transferred to the
Jamaica market previously.
You did an export of the transaction?
But getting USD in Jamaica is not difficult that is true um
so then so of all people every day that trade in jv how much of them is that sorry sorry
of all people in training people in Trinidad
that are doing this,
how much are that account?
How much trades of
JMB shares every single day?
That account is for cars. Everybody says it.
Nobody can really give me numbers.
Nobody can explain to me that. That trade I see
every single day is
that Trinidad that training guy.
Holding down the price of
multi-billion
dollar GMB. Imagine that loss though,
Randy. Think about it.
Think of literally
you're losing
Big Mountain. Where is it?
There it is.
GMB training. What's the price
in training?
$2.30.
How much is that in Germany?
Which company on our market is training?
Which company on our market?
I want JMNB.
No, man. As in which company on our market?
On my money,
so GHL is training, so we always have the home currency
if you're working so twenty two dollars and fifty three cents according to the
boj today for one um trinidadian
so jamaica that's a jamaican trinidadian today is
22.53 yeah man what's all looking for what's the thing i'm looking for
trinidad share i'm looking for the share price of that two dollars and thirty cents in the dollars
when you make dollars today german be closed on the training market at 51.82 cents
so you're telling me that the guys get 80 80 cents
under that one percent every single day and they. 21% every single day.
And they do this
for every single order.
Imagine losing that
in a gross profit.
Also,
hold on.
Also,
the movement of shares
across the market
is not an easy thing.
Difficult.
And it's not free.
It's not free.
So there's a cost
to moving the shares.
It's also difficult.
It's a cost to get back the money's also difficult it's a cost to get it back get by the money to training that it also takes a long time it costs time yeah
so this is uh if you're really doing this right that's how heavy it was doing
20 margins and anything is strong in everything your your raw material
expense is 20 percent it is not 20 percent
cut on that so any dollar you said you're actually spending that much more money on it 20 margin is
like the companies that exist on two percent first is a two percent margin company so any company doing this is either them hiking
them prices
heavy
or they're just soaking up our loss
and top our loss just to operate
or maybe something over so
maybe not over so
I would not be surprised
maybe it doesn't happen
it happens
but it doesn't happen to the level of
people think and maybe so that's what people keep saying that's what i'm saying if if for jmb price
to be impacted by that that'll be an everyday thing that people are doing that the whole
industry in trinidad should be looking at jamaica as you know thing and you're telling and then at
that point i would wonder why is it so hard to do the trades then because any company with sense
listed on both in both
exchanges would just make this an easy process for whatever customer well you think so right
but as i've said it's a difficult process it was yeah it's been a while too it's still difficult
um
and what's the trading frequency in trinity imagine if i suspect if you check that no i'll check it man well i won't do that if you were to match but it's there it's there so i've looked at
it how much of the trinity if you were to put the training jmb share that trade every single day overlap it and to just try just say if three training trades happen if say 10 000 training
units happen every day how much how much how much trades would that happen for 14 and the jc
for the for jmb our trade volume is fast because the same amount of units
it could be within it but but then for it to be the thing that's pressuring the price then yeah, that's
Yeah, it's a thing that's pressure in the price then you'll be you'd have to account for majority of the streets. I'm here
Significant here's what but every single, these guys selling it, though.
That's crazy.
JVB share price is not where it is because
it might be a factor, but to what degree?
I doubt it's to the amount.
JVB share price is what it was
because buying about 38
makes sense for a lot of people.
I know buying at 40
is not a new thing that makes
sense, but we've still got
38 guys in there.
If I want a lot of guys,
I need to have a lot of guys buying
at 43 for the price to be
43.
So who will buy after
that? The price is at 38
again, magically.
He chose to do an APO
same old APO
you're gonna see that Numbuck keep happening
the moment nothing else looks good
the moment everybody start looking up
then boom you see this rise up in
and then 38 come to strike
where were the training investors
at the end of March April 1
where were the junior investors there?
I don't know, man.
They decided to buy this time.
I think a lot of rubbish is said about the market
and also a lot of rubbish is repeated.
And I think there may be people who understand that.
A lot of people who should understand the market
don't
and you can tell them
that's a fact and then everybody else
will
because it was there
you think
JNB's chairman was checking
who traded every single day to make sure
the price to have a reason
why the price fall.
Fizio?
Um,
I doubt that.
Me too.
I'd love to talk to him about that.
I wonder where he got it.
I wonder if he looked it up.
That'd be an interesting conversation, I think.
I'm just on JMD generally.
I'm sure he's annoyed.
I get the impression that he's annoyed
whenever the share price conversation is brought up.
The truth is,
I'm not trying to...
He's trying to grow JMB.
They're all about his company.
They're about another bank.
They're growing.
They own.
And they're a share buyback on SFC.
SFC has done a share buyback.
And it has benefited JMMB greatly and continues to.
And I think that's what JMMB's chairman and leadership team
is concerned with. I don't think they give a damn
about the share price once it don't
fall below 38,
which is probably why...
I don't even think they give a damn if it falls below
38 or not.
It's the truth.
I think somebody has a lot of money
sitting at 38.
I said that, but... I think 38 is not their price. I think it have a lot of money sitting at 38. I said that, but...
I think 38 is not their price.
I think it's way below.
And that's the other problem.
$190 million
sitting at 38.
How much was the buyback again?
$300 million.
$300 million.
$300 million.
$300 million.
Jesus, that's so crazy.
Well, I mean, you could use
a
you could use a buyback
as a price protection at a certain
time.
And so you could
Isn't that the last thought?
That it would be used in the case where the
price is falling for no.
Yeah.
That's what I said last year. It's interesting to me that we're looking at 38 and 1 million odd because if three million
units were traded that would fulfill the buyback how much is thing there how much i'm trading in
shares on jmb how much is big boss 300 million300 million. So if you had
3 million units, if they were
to buy 3 million units at $38,000,
that would supply the buyback.
So that $38,000,
that 1 million unit out of $38,000,
is a bit more than a third
of what the buyback would hope
to accomplish.
And what I'm looking at there is...
Where is it? Control K.
Looking at 8 million units.
8 million units at 38.
How much units at 38 there?
Oh, sorry. Yeah, yeah, yeah. Sorry. I misunderstood.
I think it's rubbish.
Yeah, yeah, yeah. I think you're looking at the overall.
I was looking at just a single order.
So just a single order
of 5 million units at 38,
that's 190 million
in that single order.
Yeah, so it's like,
it's 190.
Oh, wow.
So it's even worse.
That's a success.
Wow.
Somebody has 190 million
sitting on the market
not earning interest
not just sitting there
amazing
half of that and that's a half of that I don't know that this is a buyback
I don't know if I have anything to do with a buyback
but you can
do a buyback in this form
a protective buyback
this is what you do for an open market buyback
a protective lower order there
it's a
if you were doing your buyback more as a
protective
thing to prevent the falling of the
street well so they said last time instead of the share price the two is also worded wording useful
it is your price so if the share price falls for non-fundamental reasons
for non-fundamental reasons.
Yo.
They said it.
The top body,
non-fundamental reasons.
Yo.
It's a ticky tickies.
I'm sorry.
I was looking at that,
all right?
And then there was a trading insurance
that I found very interesting.
Where was it?
Where the chairman sold it.
Then I picked water today
and the people knocked me.
I just want to be very clear.
I have to be very clear
and i was not the one who picked up no okay if i i was looking at that and i'm looking at that compared to that amount of units i can't i can't find the exact thing there where is it so you
remember how much how much was sold i'm looking for it j, imagine Directed and connected parties on March That's fire, that's fire
2.3 million
Oh no, this was January 2021
January
Where is it?
Where is that notice?
That's true, the notice was worded differently
Missing
I don't think it's missing.
I do not think it's missing. It could be missing. It's missing from my screen. It
doesn't mean it's missing.
But I believe there was a significant trade.
Yeah man, no feelings. See it here, I said March, May 12th.
Of which year, this year?
Oh.
Oh, ah yes it was worded differently.
How was it worded?
Equity transaction for the United Parties.
For T. Duncan, it's there.
What date?
Man trade more than a...
What date?
1 million units on May 12th.
The thing was March 30th.
The thing was dated.
But it came out on May 12th.
So on May 12th of 2020.
It's in my money.
On the all screen.
On my money, yeah.
On May 12th. this is this is more than
this is all i want 15 percent of the bible something like that
i don't sense anything to you by that i think what will happen is that your
words will be deliberately misconstrued uh well if Well, if you want to take...
Let me not be mean.
Sure, go ahead.
Do not misconstrue my words, people.
I do not mean whatever.
I just find it interesting
that the amount here...
Why they want to move us.
For the three men.
I say this knowing how much I hate the worries in my mouth
it's 15% of the buyback volume there
43 million
that would be very thin there
yeah it's 7 more than but i don't know where i mean who
bought these that's a question i'd ask who bought these it was a one order too so i don't know if
that had the same opposite effect meaning because
i don't know if whoever bought those 1 million units are looking to sell them anytime soon.
Meaning though?
I don't know.
They say it was done at 43.
I'm not looking at it in terms of the price falling or XYZ.
I was finding that interesting.
Well, there's a loss.
And then we go into the known.
There's a lot And then we We go into the non There's a lot of snow
So
If that
If that 4301
Is real
Is the price that
They really bought it at
Then
Then they are
At a
They're
You say non-fundamental buy
Or no
It's a fundamental buy
Say no matter what
The price is good enough
If you're rich enough
Everything you do is fundamental
So
Yeah man
Everything
Everything So So So You're fundamentally down 5% price is a good enough if you're rich enough everything is fundamental so everything everything
so so so you fundamentally don't five percent you're fundamentally good man just check the
share price don't don't check the share price open reports and check the balance sheet i don't have
a hell of a balance sheet which is weird i know man i know i'm not i know i see a freaking war
it was into the road video I know, man. I know. I know. I see a freaking war. It was
on the road with you.
People,
I hope
it's gotten away with on the market simply because
of
the retail investors, us in the market,
not having a higher level of knowledge.
And I think it's known that
people talk to me.
They go for EDS.
I personally don't like it it i find it distasteful
but in this case i i can well in the case disrespectful for me the non-fundamental thing
i actually prefer to know that you see retail investors that way
but but i think that's it i like to know that you think yeah too. I don't like that. I don't... That's it.
I like to know
that you think of me like that.
Because I don't think
it was meant badly.
I just...
Just for me being
in this retail space.
You just sold MP.
Yeah, yeah.
And it would...
I'll be clear.
10 years ago,
it would not have been...
It would not...
It would not have been
at my desk.
Five years ago, it probably still have been. It would not. It would not have just bottomed me at my desk. Five years ago. Mm hmm. It probably still wouldn't have been seen anyway.
Generally, I think just know.
The barracks is in a place where all the people are he he can
see the people people know jeering with non fundamental.
I did this thing NFI. People are people catching on to, oh, that's how you
see me.
Despite all what I'm doing, intentionally
making profit.
Because selling at 43, it
does make sense. If you think Jamie B is going
to fall, and you can't tell him, no.
He sold at 43.
And
the price is lower than where he sold it.
And he's wrong. He's not non-fundamental
it sounds like
he's a
I hate the word
fundamental
because it don't mean
what you think it mean
I think we did this
on earnings season before
that's the definition
of fundamental
make it
not even make sense
apply to the stocks thing
I think
because there's no
we all know
there's no one
there's no one size
fits all. This thing works for every single
company. If I look at the debt to equity
ratio for a company, it's not going to tell me how the price
is going to move.
But it's fundamental
for you to know that
when all you really want out of this
is your share price to move. That's what they tell you.
They tell you that if you don't know what the
P.E. is on this day, then the profit you made is wrong if you never check the book value if you never check this
if you never trade based on what the book value until you hear say
you hear say there's a buyout imagine that
imagine not telling us that because the buyout price isn't fundamental.
But you know everybody else.
This is going to work out X, Y, Z.
Yeah.
I'm happy that it was said because otherwise it wouldn't be said. And people wouldn't know. It's a new market now. And I don't think it was said because otherwise it wouldn't be said.
And people wouldn't know.
It's a new market now.
And I think,
I don't think it was said maliciously either.
I think it's just.
At all.
It's good.
It's,
if you're looking at JMMB,
if you're looking at any stock,
it's good.
It's people.
Yeah.
These are people that actually impact the company that we're buying knowing how they think
you're never around doing that yeah and you have to understand that you can't take it that certain
way it's not that it's not again they say it's not a malicious whatever whatever it just don't
have to for me help form your view of the company and the people around it and i don't like it's
pushed i don't like it was pushed as Like this is the right way
And so
Oh yes
That's how it grows
It's a fundamental idea
This is how you view things
No no no
My value here is different from your value here
Seriously different
Because your value here
Meant it
Exactly How would he sell You're the difference. Because you're about to hear it. Exactly.
How would he sell?
Maybe he has fundamental reasons.
You can say that now.
Yeah.
I did it right.
I did it right.
You didn't.
You're selling for non-fundamental reasons.
I don't know your reasons. might be they might be the same
as mine but guess what are the people selling it from trinidad fundamental fundamental no no
oh god those idiots they're really taking a loss on them exchange rate they're taking a loss on the
on the transfer yeah then exchange rate oh gosh here's what's funny i haven't heard anybody
outside of us talk about the fact that if people in Trinidad
are selling it at a loss here,
why not buy it here
and sell it for profit there?
It's actually...
That's the actual arbitrage.
It's funny, right?
That's the actual arbitrage.
If the Trinidad sellers are keeping
the price in Jamaica
low, and they're doing it by
scooping up the
units from Trinidad, transferring them to
Jamaica, so they're reducing the supply in Trinidad,
which
encourages a higher price.
Why are we complaining? Why aren't we
just buying German beans in Jamaica
and selling it for...
It was where I brought up the QDB example
because I know you said it publicly.
And then I also bring up the
J&B is listed across all exchanges.
At least a fund of theirs
is doing that.
In fact, a fund of theirs can
be buying J&B at certain times
and just blanking out for that.
I'll be the one selling.
Just think about this.
If I set the whole mechanism,
because I'm a broker across both things,
make it an easy transfer situation.
If even,
if I'm not even allowing the Jamaicans
to switch over easy,
I'm at least annulling the training
because then cool.
And I can then guarantee,
I can guarantee you certain exchange rates here
and be a higher exchange.
No, that's a problem. trend that actually can't do it
the bank situation they can't do it i can't go to a bank and just get usd just so just so yeah but that don't matter about it maybe but also jm b james doesn't get on it doesn't matter and jm b
in fact the fund can can do the arbitrage even easier
In fact, the fund can do the arbitrage even easier.
They don't even have to necessarily... The fund will do the thing there.
The fund will do the arbitrage for the customer.
And then the USD, it's actually a thing there.
I will actually work.
It wouldn't be like I'm going to Trinidad and Javid
and get anything there.
Because Trinidad and Javid is a type of thing
for USD in Jamaica and put on my account there
and send across my account here.
There's so much
they can do because they don't have to
do the trade.
They can do that.
They can do that.
That's Wahala.
That's Wahala.
Because that would be money transfer without actual transfer.
That's not legal.
Make it happen.
It happens. It's just just i don't think they'll do anything like that i i we are out of
our depth we don't understand that but i like what you're saying but back to that same scenario
let's say you're running your phone oh yeah so easily no If you're running your fund
and you have another fund also.
Yeah.
Sir Phil, what?
And I'm also shorting JBB.
I'm also shorting JBB.
I'm also shorting JBB because I'm buying it
cheaper somewhere else. I can guarantee
cheaper.
I don't want to talk about this anymore.
We give away enough money on this thing.
And I try to give away the billions.
There's also sometimes,
I have very easy...
We're at a point...
Imagine J&B goes into a factory.
We're at a point right now
where the experts can watch the clip of this on YouTube
like you're watching.
Hi, guys.
I hope you're doing well.
And say,
if you go further and clarify certain things,
you're now giving billionaires more money.
You have a billionaire?
Because I don't.
I do not. No, I don't. Yeah, that's cool. I know where you't I do not know I know where you're going you know I know you're going anywhere I've gone with it and it
becomes bigger money talk and only a certain class of people can earn there
and they're not gonna say oh don't I you guys
They're going to say that you're stupid and then do it.
Right?
Best believe.
You go JTrader every time.
Come on.
Yes.
Remember we were stupid then.
The things we've been stupid about.
And people have a lot more money than us.
I agree.
We're stupid and then turn around and do it.
Yeah. At this point,
I don't hear that
someone saying wrong or crazy,
I start wondering if it's actually correct.
Almost anything.
How long I get these votes
in SEL is
infrastructure.
The chairman said
SEL is infrastructure.
Can't wait.
No, no.
There's more. there's so much more
and you know the worst part
you know the worst part
the point is, we've done this
for things where we're actually warning
that's the funny part
because we have been so warned against
at points where it's profitable
whenever we warn and say, I can't lose the money
it's, why these guys doing that say, I can't lose the money. It's why these guys are doing that.
These guys are lying.
Remember X-Fun.
Remember Fontana.
Remember...
Guys, if you want to have this...
Remember APOs.
dhalladvisory.com
He can help you.
If you have the money,
I'll book him.
I'll tell you this.
If you have a lot of money
you don't get the same rate as everybody else
he's going to charge a percentage
of the place and that's a lot of
talking hundreds of millions if not billions
but if you have less than that
he has a nice rate for you
if you have hundreds of millions then there's a magic we can do
listen
if you have hundreds of millions I don't do a 9 to 5 but if you have hundreds of
millions or billions link up I can make you make a lot more money as a member of your of magic we can do. Listen, if you have hundreds of millions, I don't do a nine to five, but if you have hundreds of millions
or billions,
link up.
I can make you make a lot more money
as a member of your staff,
legally,
as a member of your,
as one of your staff members.
You can hire me.
I will go back
to the nine,
not the nine,
I'll go back to the,
link up if you're,
if you have that kind of money.
We might know what we're talking about,
but we can also be idiots
and that's true.
Sir, if you have something less profitable to talk about please
I don't know if it's less profitable
shorting
let's go
let's hear the shorting thing
I just wanted to add to the argument
that you know how many was it? mango I just wanted to add to the argument that I don't
I love the
explanation and I think that
the argument against it
about the
you know
we should wait a few years until the
market is more sophisticated.
What does that mean?
This is the market getting more sophisticated.
The thing about it, Phil,
I've found that,
I said it before, I'll say it again,
I always hear the USD market, XYZ market,
the US market is doing whatever,
and us not doing it
is why we're wrong the moment we become anything that becomes more that u.s market you find that they're talking against anyway and it is to a point where i believe that they're saying these
things don't actually go on the u.s market literally how much time on brick talk we have
somebody that actually trade on u U.S. market?
And then they're telling us points that we say
are so-and-so. Or they show us
the similarities in the Jamaican market
the moment they start actually looking at the Jamaican market
and seeing certain things themselves.
That's kind of like the U.S. market that we exercise
over here.
Every step we make towards the
dream market that they want,
then it's, why, guys, we shouldn't be doing this.
As Randy said, the moment they start hearing the Doom series
is probably a good idea.
Yeah, man.
Yeah.
So, Troy, you have a track record of being wrong.
I'm going to bet on it.
Canaries.
And it brings
there's a balance because you
as it is now
you have people on the market
who sit down in a
GMMB for a year, for three years
them APO
price
they now have an option
where they can borrow
against those shares that they don't want to sell.
Not borrow.
Not borrow.
Because chances are, if you're the type to do that, you're probably not going to do it.
You can lend.
Right.
So all of a sudden, you're not worried about the share price falling because I wasn't going to sell it anyway.
You left it for your kids.
Anyway.
Maybe you left it for your kids.
So now, you can actually make some money on it for your kids anyway maybe you left it for your kids so now you can actually make some money on it
remember in the example
I'm getting
five mangoes from Danai
but I'm also paying him a fee of one mango
for the right
to get those five mangoes
so Danai is now earning
one mango's worth of money
for
lending out five mangoes
for a week. And at the end of the week,
he will still have his
10 mangoes and he'll have enough money to buy one more mango.
Right.
Think of
MJE of MJE
MJE has certain positions
That they're not
They have a lot
They have a lot
What is wrong with this guy?
What is wrong with you?
No, no, no
They
I'm sure they know this already
MJE
No, no
I'm thinking
I was thinking QWI
But I want
I was thinking QWI
But
I think it more applies been I. But I think
it more applies to MJE because
to be honest, sometimes QB can just sell the stocks.
But if I have a stake,
or somebody sees their stake
as, I don't want to let this go because I have a very strong stake
or a lot of money there.
But I actually see the price falling.
What?
I actually see the price falling.
Say they have access.
You could have just shot it.
I actually see it falling, but I don't want to let go of this thing there.
And then?
You shot it.
You make money in the meanwhile.
And while I think I'm balancing out at least some of the loss,
if I shot to the right amount,
I'm balancing all the loss.
You don't have to lose.
I don't know if, I don't know if,
Fizio is still here.
Fizio, you know,
there's an entire other set of worlds in it.
He could, in this,
in this example,
in the example that I just gave.
So yeah, that's why he used,
well not MJ, he used QWI.
QWI would make sense.
And what you said, QWI, is referencedI would make sense And what you said QWI
Is referencing a conversation we had with John Jackson
Where I actually asked him
I said at this point, looking back
Would you have shouted at him?
I remember
I remember where I initially
Steered away from QWI
Because we asked and he said he wouldn't do it
Well let's say in our world, because we're a little non-fundamental
Let's say that we would have done it let's say that i have access because we saw
you care about i think we want access we don't want to get rid of this because it's a nice thing
to have but it's gonna fall because the pressure on the market is there we just got a lot in a fire
sale so what do we do you short it to preserve some of the value.
Well, not to preserve that,
because you've got to keep the units anyway.
But at least...
You're making money on it.
You're renting out some.
For every last year, I get in.
I get in some.
The loss itself wouldn't necessarily matter to you,
because you just have fee.
You just have fee for lending it.
Oh, no.
I mean, I know what I meant was saying that.
The last year, I'm talking about the portfolio value.
I mean, they actually short it. A whole stock and I short it. I even went and told what I meant was saying that. I mean, they actually shot it.
A whole lot of people shot it.
I even let it out
when I shot it.
I have two positions on the same stuff.
I buy it already.
I would never get this much units, but I'm going to shot it.
That's what I'm talking about.
I'm picking very carefully what
I would want to talk about publicly off what you just said.
I am adamant about not giving away millions to rich people now these days.
I will give away a lot of money as you know that point you made.
Yes you short your own position because you expect it's going to fall so
yes you short your own position because you expect it's going to fall so
you are
minimizing your loss in that position
the contract itself
if you think the fall is going to happen
and it turns out
you think this fall might actually be a lot longer than I think
you might actually be able
to sell the contract
and buy maybe the same contract back
or the same amount of units in different contracts
for cheaper.
So now you have made money from your insurance policy.
By preserving your stake.
And if you do it right,
you can grow your stake at profit.
It's like it's an entire other world.
And bring it back
to your first point, Phil,
about us not being mature enough.
Like the market isn't mature enough.
That's a catch-22.
That's like you have to have
a lot of driving experience
before I let you drive a car.
Right.
Exactly.
Exactly.
This is how you get the sophistication.
This is the sophistication that we're trying to move towards.
I think people believe Wall Street does woke up one day
and it is what it is.
Barn Big.
Yeah.
Barn Big.
Again, I always get here
Because you have a lot of Buffett fans
But never seem to have any idea
What Buffett was talking about
Check it back
Warren Buffett fans go beyond
Why I mentioned MJE
Because they actually won't sell a stick
They often make't sell a stick as in they'll make they often make
money around that stick so the the thing is why there are some moving parts there
what i'm saying is this guy this guy
mje yeah they did they did but often They might have
Blue power
I mean
They could have
Well seen this
Yeah
But
If I mean it's in a
Place where they
Won't have a stake
Then they can do this
I don't think
They'll sell it
They'll grow their
So at every point
I feel
I believe
SBL will fall
Or
Yeah I said what I said SPOA for? Or if I drop.
Yeah.
That's it.
People, let me tell you something.
Stop listening to people about the market.
Including us. Do your research come to grow?
Every maker that comes to grow
or link down there
dhallad advisory.com
i don't make nobody turn down your mind at all
all about what is possible in the market there is more possible in the market than you think is
possible whatever you think is possible on the local jamaican stop
market you are almost certainly wrong there is much much much much more much
granted if brennan and i disagree and you can go do it and prove it you'll be the first guy to say
are you thinking about that yeah public record because we did say xyz and thing and not no go so
and it goes so so trust me there's a lot more I'll be able to do on the market.
And this is without sharting.
Now, if sharting is actually implemented, like it's a multiplier.
It's well-eated.
The process is sitting there.
Is it?
I probably asked this earlier.
I don't want to ask.
Was it the thing there? I don't know if you know.
Are we doing the actual
I borrow shares and get it off?
I don't know how to say that.
How many people have access to that?
Or was it just the contract?
Say that again?
Is it just the contract?
Is it just I do the contract,
JC do the...
JC do the action in the background,
but I don't actually get a touch of money for it.
I just hold the contract.
I have not heard and I have deliberately not asked.
I don't know.
Oh, makes sense.
I don't know.
I, I, why choose?
Why choose?
The thing is the contract.
Why choose?
That's going to ask.
That's, and that's why I explained it the way I explained it.
But why choose?
The thing is the contract.
Why not allow even more depth within it?
Because that's why at one point I brought up...
I know the answer.
I know the answer to it.
But then they can't control that easily.
What's the answer?
Because I can't figure out why.
Not easily.