Earnings Season - Earning Season: Episode 12 - The Gem-filled Chilled-Out Chat

Episode Date: October 30, 2019

Danhai (@HDanhai) & Randy (@RTRowe) chill out and have a wide ranging chat this episode, touching a whole lot. They talk about money, life, poverty and of course, weaving a lot about the market in between in all. They end with both of them making a few 2 year stock bets. Listen to this one and give us some feedback on Twitter at www.twitter.com/Earnings_Season @kalilahrey's Taking Stock - http://bit.ly/331U9Q9 (SUBSCRIBE!!!! 👆🏾👆🏾👆🏾👆🏾👆🏾) $NCBFG.ja's AGIC Sale - http://bit.ly/2NprT3b Scotia's Carribean Pullback - http://bit.ly/2PxZx9z @HDanhai's Good v. Bad CEO - http://bit.ly/2prteP5 $JBG.ja's - http://bit.ly/36j6h0Z Ibera's $JAMT.ja ownership - http://bit.ly/2Pv1bc2 $DTL.ja's Woodcats International Purchase - http://bit.ly/36ksaND @RTRowe's Bank Fee's v. Dividend - http://bit.ly/2IWvxjL $MIL.ja's $SVL.ja moves - http://bit.ly/31UiQww $WISYNCO.ja's Exports - http://bit.ly/2Wr2rOQ $MJE.ja's Beautiful (imo) Prospectus - http://bit.ly/331I8dl WeWork's Saga - http://bit.ly/2q4Spag $QWI.ja's NAV (Oct 28th) - http://bit.ly/2NqsyS3 $JAMT's Supermarket Repurchase - http://bit.ly/2JB6djM $JAMT's Latest Housing Move - http://bit.ly/34kOpB1 Listener Request Tweet - http://bit.ly/2JBDqeD Shoutouts: @5solae (Mandatory 🤣), @kalilahrey, @williamwiysnco of @wisynco for the Wata that saved us, @weareproven's @chrisfromproven, @DerrimonTrading's @DerrickCotterel ★ Support this podcast ★

Hi guys, welcome to this episode of Erding Season. I'm at RT Rowe, Randy Rowe. That's not how I usually start, but let's go anyway. And I have here with me as always. As always, don't I? How old is don't I? There we go. This week we're talking about whatever we So you're saying, it's not privilege. We make money, but if you grow up poor, you don't spend money. You get used to not spending money. I mean, privilege is real. It's just not how people try to cast it. You have privileges because you have an advantage.

So having more money than a lot of because you have an advantage so having more money than a lot of the population is an advantage it's just that it isn't necessarily how people try to put it is oh yo you're you speak in a certain way because you don't understand you're doing so yeah it looks like that yeah but people have everybody has their privileges both is tall true with scoliosis yeah so it's kind of negative not negate but it's a negative thing they had to work around so you can't destroy this man's work exactly so people might say i'm at the privilege because it's weird but then it's also disadvantageous everybody has its advantages yeah and you work around it you're right but it's a habit i think about it's something specific about money

and it's weird to explain because if you have a habit I think about. It's something specific about money. And it's weird to explain because if you're born with a lot, if you're born and there's always money around you, you don't... Aggression. No, no. You don't understand that other people don't think about certain things as second nature. Yeah. And then if you're born without a lot of money money around you you don't know that there are people who think of certain things as such yeah definitely it's weird which is why when you hear

say so you hear privilege people's privilege quote air quotes people speak up speak about money a certain way because they're all cool but i don't have it so it turns away to me because boy it's one of you i thought about my this one is talking about my goals as if there's nothing it's casual thing that i'm i feel like i'm not aspiring enough in reality man just talking is reality so that's the privilege to be honest but hey another thing to knock funny we're starting on privilege on this one this joke has been running for we've been running this joke for quite a while now i'm sure everybody has tired out too but it's not there's something i want to get out because there's something I want to get though

because there's like the deeper meaning behind this part of why I do so much on Talk About Money when I talk about it because I want people to get I know people who didn't know that there are people who change their sheets every week oh yeah yeah yeah

you have some weird stories no no that's just normal yeah it's very to me because it's outside of my norm but the fact that somebody can do it it is their norm so yeah that's also it is there's some people for whom they just always had a hell yeah yeah interesting but but and on the flip side there are other people who don't know that like but but and on the flip side there are other people who don't know that like like they don't know that somebody else might think when they see your shoes or they see like your clothes and press properly they might not assume for us that maybe like going because you never pay the bill yeah yeah they say they're like impressive it's shameful man

but here you never know that i'm thinking that yeah it's like it's a completely different universe well because if you if you're born and see something it's not something weird to you uh classic case unhappy rich unhappy rich father that grew up poor because his son doesn't see so he's not even exposed to what he was exposed to so he's taking everything around him for granted and i worked my ass off for this yeah yeah and and almost sometimes like a father is stuck to cut a father can't teach a lesson yeah he can't teach a lesson and in some ways, he doesn't even want to because I want to give the son a life I didn't have. Yeah.

So you don't want to make him feel like, oh, you're less than because you have a better life. I work for his better life. Yeah, it's weird. And in Jamaica, you see, in Jamaica over the last couple of years, it's rough. It's like I born in the 80s and the 80s was rough. I gave birth to the 90s which was crime wise rough. Yeah, rough, rough. And we got financially rough.

And so like the generations that became adults during that time that raised their children, like they would have known hard and they would have tried. I mean, nobody wants, most people I would hope,

nobody would want their kids to have a bad time. You want your kids to live better than you. So those generations, each of them, like you want to impart lessons but you can't also cause how do i teach you about yeah like me telling my life i'm going to force a struggle on this child yeah what i tell my cousin i'm about gilbert this is not i can't really teach you yeah and you know i find i have a problem with that with the let me go back to my struggle and this is a benchmark for the struggle somebody else in the future must have like oh you're less than because you never go through this bro isn't that

a good thing like i'm out i'm not no again the lesson isn't there but you can't put it's not my fault you went through that and it's not my fault i'm not going through that yeah that's true but then you think of them from the other side yeah so all extremes, yeah. No, but then also, I have no other tool with which to teach you because that's all I have. This was impactful on my life. So it's a lesson, lesson in my head.

So I kind of want to teach it. So you are right. The most I can do is tell you, but you can't go feel it. You're hoping and praying with the telling part and take it in certain ways. Yeah.

I think, I think is that you have to make sure that you can impart lessons Like the intelligent man Can learn the lesson Without experiencing it So you can learn

Other people's experiences And then pass down We do that all the time Well the best advice I can give people Is to read Read yeah Yeah

Reading is it That's like The biggest life advice Yeah I mean I read fiction mostly So that's the funny part That's why I always talk about You're not reading business books No no no You're not reading self-help books i'll get bored

you know i get to know that intelligent investor no uh so the thing i have read business books about some of them are like i get little nuggets of knowledge and honestly you didn't know something you always you always feel good knowing learning something new so that's that's a plus because there's always something there you probably never know but other times if you read you read one you read another so after you read the others so some of them are cookie cutter same thing after a certain point you find that there's not much that you can clean it's funny if for for self-help and like those business type books not stories but business type books teach you X, Y, Z. I find out what they are is they take one simple concept

and they stretch it. Yeah. And for fiction, they take a huge concept and try and compress it. And in the compression that you find in fiction, you can learn so much.

I have a huge reaction for fiction authors because the way they, well, the ones I like Randy you know the type of fiction I like yeah like that Brandon Sanderson yeah

it's a very intelligent nerd wildly read person and it's like you can feel nuggets of the personality lessons they have they're trying to teach you

through their book so the character goes through whatever and it's small to say him saying oh yo that's deep it's one thing you can apply apply so much of that to what i do daily investing or the way i think about things i've gotten more of that from fiction than the business

and self-help books not to say i haven't learned but there sometimes you get bored i never thought of that that way because you know this businessman did that this thing in this way and that was kind of cool. But I don't get it so often. And to be honest, I really enjoy reading fiction. So that's my read. I read news, anything online. Yeah, I mean, you read almost... I don't consider it reading.

If you're asking me to read, I don't consider it. I don't consider it at all, actually. It's just, oh, let me drop this information. Yeah, that's really it. It's not boring this information yeah that's really it it's not boring it's interesting but it's not reading yeah it's not reading

yeah the worst thing I can do is tell people to tell me everything I know already like refreshing something that was in a prospectus

that I'm like ah cool I only read it because I'm hoping to God they say something I did not know these days you're hoping to God at least get

what's in the prospectus right yeah that too oh gosh trust me but you're right about getting i always say the same thing about how i invest and a lot of the things i don't find investing and business and strategy i get it from fiction because fiction allows you to build yeah a pretend world in which you can you can only really deep in there but you think about it the

only way you can carry yourself through a fiction world because it's not really not seeing it you have to use logic yeah so you have to say if I imagine this person and they are fat and they fall on this person

they're slim what is likely to happen yeah yeah but using but using the parameters of real life and it's the same thing

same thing the top level concept in those worlds apply to the top level concepts in Israel I was young in high school I read the sword of truth concept in Israel. I was young. In high school, I read the Sword of Truth.

Sword of Truth. Oh, Lord. Yeah, yeah. Those, the Wizard Rules, all those rules, most of them, all of them, I think,

they really have some deep knowledge. If you look at it and apply it to real life, the first one always applies, the Wizard's First Rule. People are stupid because they believe what they want.

What they want, if they want something to be true they believe it easier and yeah that's really it so you believe a lie because you want it to be true yeah but i mean let me say it nice they're like people that i remember it as you know people believe a lie either because they want it to be true or they're afraid it's true definitely both of those things are really, really good. Very, very good. And you see it, I have seen that concept through everything. You see it through literature, you see it in real life, you see it in the market. In the market, definitely. You know the biggest problem I see it in? I see it in myself. That is when I start to get really good at investing. Yeah.

And when I'm seeing things you dislike in yourself really changes, really fixes your mindset. So same thing. We see something on a stock because we're afraid that this is negatively impacting. We start worrying. I basically run there and say, oh, this thing, what is one stock? And I think that's a good part of having Randy to speak to about that

because he has a completely different point of view sometimes. And so he'll break down my uncertainty about something and uncertainty is often because boy I'm afraid this is true yeah yeah

fear if I just don't have to have that same fear I might have a completely different view or sometimes your fear might lead to something that I never see

yeah or sometimes your fear might infect me or my fear infect you and then but yeah you're right it's so funny how fear drives a whole heap and you can identify where it hits it makes a world of difference that

that entire set of rules i guess i'll try and find my favorite topic um risk so fear fear is Risk. So fear and risk are part and parcel. Nothing breaks it down like information because risk is the absence of information. You're uncertain. You don't know one step in the future, what's going to happen. There are too much variables for you to say, oh, I am certain this is going to happen.

Which is why inside information inside information is dangerous there's no risk nobody's on a level playing field if i know exactly what's going to happen on a stock then i know i'm going to get a good return out of this stock i know for a fact because i know something's going on in the company and nobody else knows then i have no risk because i know say i get results early yes some leak yeah then your your your betting is now it's like people say you know what a man play but cash what let's say one day you met the man yeah and and he actually told you hey you know tomorrow at one o'clock i'm going to play i'm going to play 32 and you're like i don't believe that yeah and so one o'clock come tomorrow and

32 play like holy crap like, holy crap. All right. I'm still in here again. I said, yo, you still play 32. Tomorrow I play in 14. Yes, what are you doing? You're like, no, but of course you don't know him. So it might be crap, right?

One o'clock on the next day. Boom. He play 14. He link you back. You still not paying the number? All right. I'm playing six tomorrow. Take a million dollars.

You put on six. I want to ask you right at that point is that risky or not however however however i know it's risky because he can't change it anytime he can't i tell him he change let me change his story because that there is risk there yeah magical world every day somebody else is the man right and they pick the number and um of course at this point because there's so many people and it's like a poor world you know everything is is post apocalypse these days it's both apocalyptic world and most people just play the number they want and then buy the number they want and you get it right your gang sometimes wouldn't find out who in the area going to get the number and then force them

to play the number and everybody better and you tell them to get it. That's hard, I think. But one day, you are out in the forest one day for two weeks. It's taking you two weeks

to get back to where everybody is. Your watch go off. Boom. Today, you are the man. So you have nobody around you to bother you. You're perfectly safe. You can pick the number today.

And of course, you can access credit. today and of course you can access credit you can invest you can put 50 million dollars on the number and you also get to pick the number then you're good so if you walk into a betting store in the middle of this pretend forest and you're about to buy the ticket and it's usually a lottery ticket so you know one to 36 but over the numbers blah blah, blah, blah. Do you have the same risk as everybody else? No, you do not. There's no risk there. There's no risk.

If you are uncertain, then everybody else is uncertain. Certainty removes risk. Risk, definitely. And risk is always forward-facing. So I hate any backward approach, backward-looking approach at risk. Which is why the first example wouldn't work because just because the man always told you

the number doesn't mean that the day when you're playing you're going to do the number but if you are the person you can control it and even then if you want to get pedantic about it i mean lightning could come from the sky and kill you right before you play it or whatever yeah but you pick the number maybe maybe whenever you pick the number it's so much electricity you know that when you pick the number it's automatically assuming that you're also going to buy the number so you just automatically get x amount of money so yeah in that situation there is pay the number it's automatically assuming that you're also going to buy the number so you just automatically get X amount of money so yeah in that situation

there is no risk and that's a huge fictional fictional example it explains what risk is properly exactly

it's a fictional example that brings down to a common level that everybody can get the concept of what actual risk is so the more that you remove the uncertainty

then yeah so that's why that's why that's why it's fruitful to study companies you understand exactly how they make the money what they do what nature the expenses so because at that point you can pinpoint as best as possible what's going to happen in the future of this company you can know what affects it you can look around and say boy this time i'm gonna mash up this what's gonna happen you can look around and say boy this time i'm gonna mash up this if you can cut down your level uncertainty then you reach a point where your risk isn't the same as everybody else's because everybody else is jumping around and wondering what's going to happen and you stop because i

don't understand the company you are more certain you still have some risk because there are some things you just cannot know without there's always a company whatever always exactly yeah so if you reach up i reach a point of comfortable risk where i know where these are the risks and i am i comfortable taking them because i always say we're very risk averse it's just that we define that very differently from how people from what the market is there so i think about volatility volatility is a backward looking approach i look at how the stock was moving in the past, and I'm going to assume it's going to continue that way. It doesn't work so.

Some things happen. Like something changes this company, or this new business is coming in, business can fail, but you look around and you figure out, say, boy, I ran this example with iKool in Alaska. You look around and say, boy, I'll be at iKool back at the border place.

People have been drinking this thing. This new business has been well for Lasco. Buy Lasco. And that worked because it's forward-looking. And why is it forward-looking? The market forces it

to be forward-looking because it forces you to see the financials at least 45 days after the event. After the event. So I am not really seeing it,

I'm buying, no, I'm buying no for really 45 days after it's reported exactly and the quarter i haven't done yet so it's 40 maybe lesser quarter did just that i really bought for i really bought for something four and a half months down the line crazy but if you say four and a half months it sounds like it's short term short term but but it's not short term if there is less risk yeah i just had the good fortune to have been at the

time in a job that that carried me around the country every single month so i would pass kids all over the country every single month and the whole of them drinking the same drink and it's the first i see it you get me that's so in that case that was the two weeks where i'm in the forest and i was the man yeah yeah but of course it don't work every time yeah i could have been wrong get wrong sometimes oh i don't work every time. It don't work every time. You get wrong sometimes. What I don't talk about normally is that I didn't just go,

oh, I'm drinking iKool so I can go buy iKool. I went back and I check out the numbers and as soon as I check the numbers I realize that I don't see them reporting

much about this iKool thing. You know what I'm saying? Just start. And I said, wait, it's fresh. So. Something good.

This new business that's doing well is going to add to the norm that was there before is that second part that actually removed the risk that's what people that's what people don't get the thing that is us seeing the bottles on the road it's not the box on the road that removed the risk you know it was when i go back and check to see what do those bottles represent and that's the problem with when i talk about companies i like you know companies like versus the stock look uh somebody at work today was talking to me about some companies I like. WeSynco and everybody's favorite.

Oh, the PE. Oh, God. The PE was kind of high to me. Bro, PE doesn't count. You can't use PE. PE doesn't work for this market. Yeah. PE works everywhere.

PE is widely used. PE is used in most markets. Jesus Christ, we're not at the middle of this spot. I don't want to talk well you know what i think about yeah that's fine yeah whatever because it's something gets all over the place i get it at work sometimes it's by people who run on the p so if you watch if you talk if you look at a u.s market you look at u.s analysts look at u.s people that are making money they talk about p.e hey my fave warren buffett he talks about PE. PE drives the market. Yeah. People forget PE. PE is

price to earnings. Earnings drive the market. You know why? Because the same reason everybody starts a company to make money. What's money called? Earnings. You can make money without making earnings. Yes but that's really troublesome. You have to go into all kind of cash flow game. It's harder the richer you are the lazier you get. You want to make money the easiest way. The easiest way is to make profit. And if you're making profit, it means you're really good. It means you're making so much money that you don't have to do the cash game. Because when people run out of money, they don't do the cash flow stuff. Or they try to book a loss but keep the cash flow high so they can live off it.

That's when it's like a creative. When you're losing money. Yeah, when you're losing money, you get creative. You can't make earnings. But you know how rich people are? They're so lazy. Because they're lazy enough to do things the right way. If it's a profit,

it's a profit. Yeah. Remember, I asked a question, tangent. I asked a question about which one is best, which one is harder, being a good CEO or a bad CEO?

Yeah, that's a good question. My initial thought was bad CEO. That's easier to be a bad CEO? Because a bad CEO in a company... Which one is harder or which one is easier? Harder. Which one is harder,

to be a bad CEO or a good CEO? You're trying. You're trying to be a good CEO. Okay, assuming that you're both putting in effort and you're good at it and one of you are bad at it. Yeah, one of you are bad at it. It is easier to be bad. It is more frustrating to be bad, but it's easier to be bad. It's harder to be a good CEO.

Wait, that's a really good question. I'm not sure. So why I said the bad one is because they have to be creative with the... They're actually trying, you know? And they're... I'm biased because I know people like that. And things are going badly and it's just not working out. Imagine that.

What you call hard or not. I realize I'm biased because I know people like that. So while I was thinking about hard or you're being creative, you're trying to do this, but you're always in the wrong direction. And you know the earnings is being bossy, bossy vex, and I have to keep trying to pull some other way to get money versus hey i know the way oh no way i know it to make it right and i'm doing it right every single time okay okay like effort is there but the amount of work you're putting out that's unlucky i feel like we do a lot less than a lot

of people a lot less in terms of effort but in in terms of... That's what I want to know. What do you call harder? Because I guess maybe I'm misunderstanding what you call harder. So... Because the people I know that are bad CEOs are just bad running a company as well as it could. But I think there are two types.

There are the people who are genuinely trying, but they don't know. Yeah, I feel that's a hard one. There are different types. And then there are people who are genuinely trying and they're learning, but they're working it's rough

it's rough on the business it's not easy even when it's good it's not easy and the people who like more concerned with the profit not the actual profit

they're more concerned with the look image of profitability oh yeah man so they're the people you'll see like they want to be known as CEO of whatever

CEO of whatever yeah versus versus making profit so they don't so for them not that they don't make profit they're not making usually they're not they're not optimizing they can do they can be doing much more they can be scaling but guess what i'm the ceo fix my tie and i look nice with everybody else but then i don't consider it's such a hard question that's why i'm asking what you call effort what you call a harder you know what i'm saying initial thought was bad

i thought about it some more and i was really confused like it can really stop to be a good ceo it can be yeah because being a good ceo is hard yeah because you

you know all the things that can go wrong and you have to worry about it all the time that's what i was thinking the bad ones they're running oftentimes the bad ones

are running in it blind they think this wrong thing is going to work out and boy it does knock them exactly that's what I was thinking the bad ones are running in it blind they think this wrong thing is going to work out and boy it does knock them exactly that's what I say in Andre's episode that

everybody else in the company gets to go home you don't you don't yeah you're always at work that's what I keep writing about

being a hired CEO so you'll surround the owner company hire the CEO and go sit back relax be the chairman watch the show you ain't watching it

some level of hands on but I just hired this guy he has a CEO and he goes sit back relax be the chairman watch the show he ain't watching some level of hands on but I just hired this guy he has to get it right he must get my money right of course and if you think that doesn't affect that guy of course

and you've asked you want them boy money and saying ah cool of course you know he could do this better whatever you say trust him

no he didn't take your trust he said I have this man money and all of my reputation because you lose your own money you know it's worse somebody else's money because imagine oh yeah randy hired me as the ceo and i go lose randy's money yeah no we don't have problems nobody's hiring me again you know well you know what i don't know if they'd find you but but i'm not the the CEO to hire anymore.

Yeah, good CEO, yeah. Make the money and... Randy going to hate to see me go, if anything. Well, you don't allow good CEOs to leave. Good CEOs don't get to leave. But they try. If they leave, they have to leave for the love. And that's why good CEOs tend to run businesses

or really good CEOs tend to be people who started a business and are very passionate about it. Because they're really about the business. Because the thing that keep you up at 3 o'clock of your own volition is the thing that will always keep you up

at 3 o'clock. And if that thing happens to be something that you built into a company that has turned in money and it's great, it's always good to keep you up

at 3 o'clock. Unless you're... If you're very stressed, you know, guys, they're happier with their stress than a lot of people basically my work for a man they go my go late every day and it's me now i make the money my paychecks is the same no matter what yeah like i want to say that happiness is not a function of money there but happiness can it's not how it says happening money doesn't

make you happy but it certainly helps yeah you put you in a good direction to be happy. Poverty tastes, it does not taste great. It's rough. I am so happy for my privilege of never tasting true poverty. Oh, God. Yeah, well, yes. Jeez. Yeah.

My parents, they did a lot. Yeah. They did an amazing job. A good thing about why I'm here, I know, is in terms of the level I'm able to invest, my parents didn't pay student loans for me. Oh, wow. That's amazing. I dropped out of school because of student loans.

Yeah. So that's my privilege above you. Yeah. If you never had that issue, if your parents would afford everything I'm sending you through, then you'll be fine. You'll get a degree and everything's cool. I just wonder, when I was really young, I got an invitation to go to out-of-Gon to school in Europe.

In some city of... I remember watching, I can show my age, but VCR said you got tapes. They actually sent tapes for you to sign up. And the whole city is a city of students. So it's really... The thing in the town is a college. It's a college town students so it's really the thing in the town is a college it's amazing and my mother is not sending me to europe when i'm not a teenager teenage boy not going to europe i just wonder like in some other dimension if i did that like who am i

i report i literally always wonder like who would i be would i be a couple of things in my life like that i was one about wow the opportunities they didn't take yeah the road not taken this is why we're here with opportunities we make sure we find them because as much as much as work we do on the market if something sticks by it that pains me you know it hurt because it's like i was looking at my scope was so big every single one it was not wide enough every single one of them still hurt because i watched the entire market every single one of them still hurt. Even the ones

that I look on and I say, okay, this is going to happen, right? But maybe, maybe it's not big enough for me to go into.

Or maybe, maybe it's not good enough or maybe like I look in, I look in 70% over six months or a year and this might give me 33%,

right? And you say, let me leave it. Even the 33% must still so let me leave it even the 33% must have hurt me bottom me I think that's the smaller money

investments we make that's where it comes from yeah exactly we stay up to it and we just don't want peace in reality we're being impractical

because if we're you're not being impractical you're diversifying yeah sure same level we have the same level of thing there certainty about two things one is 70 and one is 33 you're not being impractical you're diversifying which is a good thing same level we have the same level of thing there certainty

about two things one is 70 and one is 33 it only makes sense to go into the 70 yeah yeah okay sure

this is where diversification have the argument or split it in case the uncertainty part actually hits you but we're not in this for that we're actually trying

to make money so some guys after khalil's thing we got the youth they know themselves yeah and they were doing the same things we were doing with wicton wicton had a nice spread and high volatilities not high volatility high move high volume yeah yeah yeah because by birth yeah by just by nature it moves with heavy volume because a lot of the big people moving out and i think people a lot of people wicton if we i hope jamaica is the point where people should write a book about that wicton has made a very large amount of people in jamaica rich yeah that weren't rich before in one going one year I don't think

we want to defect to that for maybe five years because their volumes being cashed out by regular people and remember the loans

that were put on to Wigtown people so NCB and Mayberry were giving people loans to go into Wigtown yes so I could have doubled my money

going into Wigtown without having it so suppose I can scrape together a million dollars from my family and them friends and then I put a billion loan on the can scrape together a million dollars from my family and them friends

and then I put a billion on another product Reggie I'm just telling you from my small view things I see people that DM me people that email me things I

people I know in person yeah people who poor few of them I'm thinking have lived in Spain and proper they've lived

badly not terribly but yeah yeah they're not rich at all. Right? But they went to school, like around the time I went to school. Get a job, not necessarily big, but they're doing okay and they have some savings. My mom has some savings. You should all get a piece of story.

And everything went in weak time. And then? And then low point of coming out is 83% off. I am taking it off. And then put, there are people, there are people who, for them,

I mean, it's people who have money or in fact, people who think that they have money or is ready to tell other people how to deal with them or what is money. You can't tell somebody what is money

because you don't know what it is for them. Yeah, like same thing, just don't police people's money. Yeah, literally, don't police people's money because you don't know what it is for them yeah like same thing just don't police people's money yeah literally don't police people's money you don't know what it is but but i like if i know somebody for i know say if you walk into them life now and you give them 300 grand cash you have changed you could change the direction of their entire generation by 300 grand cash imagine them pull together and get 500 000 including sync up the partner draw them and everything and everything going with done and then come out close to 100 percent

and i know both some partners are going to be done few people well yeah i know people owe people money and then have a payback and I'm putting away time hmm happy what there is a wide I don't think anybody I mean at the economy's that the serious economy should really look on on the effect that it's a wide you always talk about how there is a transfer of wealth from the poor to the rich extraction was something like Wigton has I mean I'm not saying this is i'm not saying they're created i don't know but i know that i've never in my life seen so many disparate different people don't know each other get a boost in them pocket within a year from something that you change lives you know bro yeah so my brother people here i know my brother invested

and every time i go to him every time i go to him no talk about investing because you know i know him other names that i have free information i get that for you coming no you know so yeah definitely yeah man's acting but money is starting away different he's he has one of the things there you know the mobile payment platform where you can just call your payments man say you're up oh like like um let me not give out no sponsorship yeah like a mobile no no you know big up ncb like like ncb you have it actually actually got from ncb yeah i should be good don't call salt because my ncb quiz is also part of the quiz platform i know a couple barbers use that so yeah so him say oh not too much work in people since he started looking at

his money a different way yeah how we how we can utilize his money yeah he's not looking at how i can cut my money and put it into the market yes so he said hey yo so hold on him have a business in making money making money and he's taking that money and invests in somebody else's business in order to make more money for himself right and while him do that the brokers i'm getting them two percent both off both ends right that's more money in the system oh my god i think the right name so you man that's why i don't cost that's why i don't that's why you don't see me i try to help people who jump into ipos for the pop i don't cost them because i understand people make it we live in a country where people play cash part to guess what a man play and the odds on an IPO are

much better are orders of magnitude better than cash pot definitely and worse everybody

feel exceedingly bad so people think they know how it feels it's funny because you can't even and you don't really ever lose

you don't lose everything in cash pot you either win or lose everything but in this a loss is that you've lost a percent and that's why i talk to people because what i'm trying to do is reduce the risk for everybody across the market that'd be so good imagine that but i'm doing it you know everybody else doing it everybody else that talks about the more it gets popular is the more the risk is reduced. Because, of course,

everybody's not really doing the homework. You and I know that. Yeah, trust me. People want to... The most annoying ones are the people who try to sound like them do them homework. Like, you think I don't know what I'm talking about? You can't fake sound like what I'm saying.

It has to make sense. Yeah. Yeah. I'm going to know if you don't know what you're saying because I am not making it up. I am actually talking about that thing. It's like when you're in Florida and you come across

those Jafakans who come from Jamaica you know it's like you're from Moco that's where your grandma is from yeah yeah

she's from Papine you get them all the time they know the only reason I know you're fake is like you have to come from Jamaica to know that

it's not Papine nobody says that my out is no you know what I'm saying top boy we're definitely beeping that but yeah but yeah he's a waste man you get me if you don't you only if you're Jamaican you know like from all my brothers are we trying and there's like what a party or something and there's some Jamaican coming and oh they're very Jamaican you know like from all my brothers and there's like what a party or something and there's some Jamaican coming

and oh they're very Jamaican and I'm saying something I look over to him like yeah right here comes here comes the

king from MoCo you just you can get the you can get the the immediate knowledge when somebody's faking it yeah definitely

and they don't know but they think they know and it's the same exact way we invest in yeah see people should just learn

nobody's as vocal as a fake you know exactly geez nobody's as vocal as a fake and I was trying to prove prove that avoiding the thing

that allows you to prove yeah anyway I think the thing that helps most people is just the knowledge and that's why I try to talk because it reduces the

it reduces the the the amount of risk out there the more people know what's good and what's bad that's why I try to talk because it reduces the it reduces the the the amount of risk out there the more people know what's good and what's bad that's why I started let me do the IPO let me do the IPO the grow because it reduces the risk of the people who are jumping in just thinking that this sound good mm-hmm yeah that's right that's right that's as annoying as it is I talk to people the same way I try and get the information out there it does sound for people to the more people

invested in the market, the more people actually have a savings plan that's actually giving them money. There's that too. The back end of it is that they're actually making money. People in Jamaica can take part in business in Jamaica. Yes.

I know a business where I own a business with that guy. I put a piece of his business and he's doing it well, so I'm making money with him. jamaicans eating food for me that's why like a friend messaged me yo i like these messages i won't find it i won't i won't load her up but and i get them i like that i say it and i get them more and more and more and more and more she knows if i won't get the exact message because i felt good and i already just. She said to me, she said she owe me a

bottle, which I like. So I said, yeah, give me one of them scotch. I like scotch. Scotch don't like me, but I like scotch. It's a terrible love affair. So she said, she sent me a picture of it and said, I deserve better than the regular white label doors, which I agree with. I do. I do deserve better than that. And so she was, she was sending it to me.

I said, it's cool. You know, thank you. And then she told me why she sent it to me. And she sent it to me because she said 2.3 million gains on the portfolio. And she's looking for 10 million next year. I rate that. Yeah. Cause I remember when she started and she's looking for 10 million next year i rate

that yeah because everyone she's that and she's confused she's ready and in no time at all look at me look where she is i mean it's not magic's over time i like this because this would have been she just started the same time as you or after you yeah you know yeah yeah yeah a couple of people from the group have like quietly thanked me and more i think about that group that's happening from that group i'm moving actually money because remember when you said the other day but before you left you said how much was actually moving a million in trading yes yes yes because that's what people know are moving i'm moving that's what i wanted to hear they're saying no then i know moving a million yes no i'm sorry no yeah that's what i

want here and the conversations i have with people in that group you can get people killing you know to join the group

you shouldn't talk about the group people at age than i at age than i not me i don't have nothing to do with the group

anymore he's than i that's fine i guess we'll have a course yeah that's the entry yeah i do respect

that you guys have always kept that up so if you don't if you don't so the course is really for your dedication That's fine. I guess we'll have a course and that's the entry. Yeah, I do respect that you guys have always kept that up. So if you don't, if you don't, so the course is really for your dedication. You learn

and you have to show me that you actually want to do this thing for yourself because the group is no hand-holding. The other thing we said, the rules, no spoon feeding.

So if you're in that group and you ask a question, then be prepared to hear it. Tell us. You're going to have to go out and do some research and answer the question yourself other times you can't answer the question yourselves but if you show that yo i did x then probably group me to halfway and try to push you or not

you get some questions and that can lead in the right direction well as somebody who has always been a proponent that i can tell you i it's very rare you meet somebody that is not intellectually capable of answering the questions definitely it's also rare that you meet somebody in this day and age that is not simply capable of finding the answers because we you and i know where we find answers because like you find it sit on your phone yeah yeah so you find answers to your questions looking there one thing that i should do i don't know if i ever made it known that's why i did it also not only does it show if the person is serious because it takes you know how much time it takes to bring somebody along the path but it also allows them to learn the language because

there is a little bit of a language barrier in finance yeah um and and if i was about people who hate numbers and i'm hearing them but numbers. They hate the word them, trust me. So the language in finance also kind of alienates them. So what part of I used to push people to do that

course is it also makes my conversation with them after that easier. So even if you don't get it, even if you're

thinking of making the money properly, you're not getting it right, even if you don't like it, even if you didn't pass the

course, you're no more familiar with certain things you know what people mean when i'm saying the bottom line i mean net profit profit yeah you know what people mean when they say revenue is good you understand when somebody say you want me money money no you might make revenue and my profit you get it you don't hear a girl be when i say yeah no you have someone them, them very revenue issue. You know, them, they look very cashy. They look very cashy on the profit line.

We, we are very revenue. Yeah. But then again, I guess everybody likes revenue. Definitely. Yeah. You don't have to worry about if an expense doesn't care about the profits.

And revenue is a very interesting thing for some people with some companies. Oh, I like that. Bring it back to the market that night. Let's go. So, other companies play around in how much... Good one. People don't understand what revenue does. I always start with profit because in a day, more has some profit line.

Yeah. You make some money, come make some. Show me so you can give me the money despite your operation. your operation that's the point everything else is everything else is pretense well there are some companies on the market they get a lot of revenue and they get space to play around with that revenue you can invest invest in short-term instruments and you get that thing they get a little interest income yep you go finance this deal over there or actually work out for you you buy some more stock and you don't pay certain expenses yet so the timing of your revenues really works out for some companies where they make more revenue off of it a lot of

companies are very if you'll see companies put on a heavy push listed companies easy they always put heavy push before the end of the quarter coming with the good numbers that's one easy example right there yeah i used to have that at carreras i mean every month is important every month is important but the quarter end is is. Do not screw that up. You know where I think the enemy again, you know where, you know where predictions are. Everybody come in the predictions,

the quarterly predictions. And sometimes this quarter, you know how far you reach. Sometimes the end of this month need to make up for a rough month last month. You're going to have to find it. Yo, I'm not saying forward sell, forward selling is not allowed,

but I'm saying maybe he wants to buy 10 more this month because my numbers have to be good and then what you do after that that's why it's harder that's why it's harder to be a good ceo because if you're a bad ceo the numbers never come in numbers never come in you just leave it anyway there's no innovation there we go. And imagine that you find, you found a way to get them to buy 10% more of a stock. Yeah.

Maybe you can find a way to get everyone going forward and guess what? Everyone was going to buy 10% across the board every month. So yeah, thing there. No,

you're right. You're perfectly right. It's a hard, it's a hard game to play the more you know. But but it's even harder the less you know you just don't know how bad it is for you yeah being close to business um you learn a lot so i would encourage anybody that has any friend in business that monitors their numbers on a regular basis.

So they do financials, probably not all the time, but even all the time financials on a monthly basis. If you can look at the business and look at what happens across month to month. Some months, you beat the projections the two months in, and you're good. And you get a loss in that third month. And you're, well, guess what? It's below protection now so yeah the month to month we see in three months three months you can i get uh you get a good view but a better view will be i don't want to say better there you get a more comprehensive view

yeah definitely because you always want more information more comprehensive view yeah definitely because you always want more information so i come right back to education education it worked it worked in the market it worked out of the market it worked in the companies it worked everywhere it's just logic that's why that's why it works in fiction and you can take the concept from fiction like we're saying early and apply it in real life it's that that quote and everybody said nobody knows who said them say but that if you think education is expensive try ignorance yeah yeah yeah exactly you don't know this company makes money but yeah it's so funny mm-hmm talking to people my say how sure we sound yeah especially in real life how sure we sound i know what i know but other times i don't

i know other times i know what i don't know but certain things if you don't know it you just don't know it exactly but you've accepted that there is a certain realm within this space that i don't know this i'm happy if you can come tell me about it i'm happy if you can come tell me about it. I'm happy if you can prove me wrong on something because I've learned more. I learned more. And you saved my pocket because I was fully gunning to go in on this stock. And you come and show me,

say, no, man, I wish I had told you about it, it's not going to do well. And you actually have a good reason behind it. Then guess what I just did? I never lost any money on that stock. So that's a strong opinion said lucy yeah yeah for 10 times center team 10 and back that still can't rain bro like i said it's latin so nobody who knows it is alive um

that as i was making a point earlier about fear though because i mean it's fear that drives a lot of what i know is it well no or is what we do like how we invest yeah i do tell you that i want people to talk about like what they would want to talk about one of the things that people are saying so you know what to buy they don't ask you like that but that's usually always it's how you know what to buy how do you assess risk how do you know the right price they usually say it a million different ways but really i'm asking so you know what to buy and what they don't know it like that but that's usually how you know what to buy how do you assess risk how do you know the right price they usually say it a million different ways but really I'm asking

so you know what to buy and what they don't know they're asking and that's where the ignorance and education come in they're also asking how do you know

what to sell and when to sell it yes you're right they don't know that they're asking that too they're asking it but they don't know

they're asking it when somebody asks me yo you think Wusinko is a good company what you're really asking me is do you think Wusinko is a good company that's going're really asking me is, do you think Wisinco is a good company that's going to match my personal goals that will allow me to make the amount of money

that I want to make within the amount of time that I have that will match what I really want in my life? So you need to tell me when to buy it and when to sell it. And when I say, dog, I can't hear that. You say, yo.

Martin, please edit that again. Funny. I'm glad it brought us back to my original point about Wisingo and the PE being high because I looked at it and I was like,

when I look at PE, what I'm looking at at that point in time for that purpose is, has the market priced in the future expectation? Because there is a baseline on people have a rough PE they like to work with.

It doesn't happen all the time. That's just any stock market, to be honest. Companies outpace evaluations based on future expectations being too high or too low. Sure. But if I look at Wissinkwan, I don't think it could grow beyond a certain region in the period of time we're looking at. Then if the PE is high, air quotes, then I'm not buying. I wouldn't look at Wisinco if I buy it for me at that point in time. So Wisinco's PE, I think it was 28 when I was looking at it for that.

Wisinco. And so your roast is off completely? No. I just said, with current information, no. I did know I have to go and look back at the impact of the snack sales with the JPE. You see, you're making the same mistake that I made. What's that? I tell people the story about the Alaska bottles, right?

It's not the noticing the PE. It's not the noticing of the PE that removed the risk. It's the follow-up to investigate why the PE is that the noticing of the PE that remove the risk is the follow-up to investigate why the PE is there because sometimes the PE is high and the PE is going to drop. PE is going to drop.

Yeah. Because junior market companies have that all the time. Yeah, PE got 40 and I'm coming with 100% earnings. Boom, they're coming with 150.

And 200% sometimes. So it's a buy again. I get it, right? Because they're growing because PE really and then you'll have a high PE a high PE

because sometimes somebody's willing suppose I know say this thing on triplets earnings over the next the next two

the next year but it's PE currently is 35 and the only sales in the queue is at the 40 level and somebody might say who the queue is at the 40 level. And somebody might say,

who the hell would buy the stock at a PE of 40? I say, well, me, because guess what? I'm making more money just buying that. Exactly. Look at...

Because really I'm buying it for when it's a PE of 30. Exactly. In the future, but people seem to forget that we buy it for the future. I think they buy the thing and then get it now.

Yes, definitely. But I don't think there's a term for this. But look at the PE. It's always always to look at the pe for the price that you got it at oh people always do that they look at the p for the price i get i don't think they get that you're supposed to look at the p with relation to where it's going to go no man i mean so in the future yeah and the stock move up sometimes you got a p you got it on you oh right there the price habitat it's a really good deal exactly oh oh yeah i said so you get the

price at the right stock yeah you're backward you work backwards on the piece oh it does yeah yeah but when it move it moves into a PE of 15 because the price go up. Imagine my PE or the price I bought. The current earnings, when it has a 15 PE, are current prices. But my price was 15 way back. And I made a gain on that. And my price was a 40 PE. So I made a gain on that.

So it moved to 15. I'm pretty sure my p is real because that that is nice when you when you chart it that is great so especially in a market like ours where profit is the god yeah it's a god that nobody really likes to admit um well you know you i i said it last night you traded abroad yeah yeah you know how you know yeah you know how i mean the u.s market love lots of things and a lot of things but there's nothing that beats profit that but that's why they call it the bottom line what's his name warren buffett yeah you call me saying what's his name to warren buffett like i don't talk about this man every day right i hear about him about him every day. The Oracle of Omaha. Oracle of Omaha.

If you hear what he's talking, he preaches profiting. And him no must. Because he makes sense. Let me tell you something. Let me tell you, unless you can control a company where you can put something

in the expense line and pay yourself, are you owning up of the stock that the dividends can manage the opportunity cost of you putting your money

in the company? Are you literally owning and running the company unless you're there you need a company to be profitable because the profit the company only pays you to through one thing a rise in the share price or a dividend and dividends can only be paid from profits yeah you can't tell your cash flow could have good as gold if you made no profit last year. You need to declare a profit before you can pay me

some dividend. Yeah, I guess so. You lost money and they give you money. I don't explain. You're paying out money that you need and you lost money.

So, where the money you need to operate will come from, no? Exactly. The stock. Nobody gives out all their profit as dividend except for careerers sometimes. I gather. Like they had a couple of quarters when they were special. Super? Exactly. The stock. And nobody gives out all their profits. Exactly. As David,

except for Carreras, sometimes I gather, like they had a couple of quarters when they were special. Super mature company, they have the growth. And guess what, they paid those extra profits

out of previous profits. Previous profits. At the end of the day, I can't believe that I'm in a section, I've lived to see a section of finance occur where elements of finance

that believe that there is something bigger outside of the moral aspects of there is something bigger outside the moral aspects of business something bigger at the end of the day for our business than the problem yeah so there's employment there's a nation building there's the you know all of that but yeah beauty of the thing and you know you're doing it well and you know when you make it when you make money you know who's doing it best who the? The profitable ones. That's right. So nobody rates leeching because NCB is making a loss.

Exactly. Right? Everybody rates leeching because record profit. I guess, you always hear about NCB's wages. They pay really well. And you know what they can pay really well?

Talent is expensive. Exactly. And I'm making so much money that paying my workers really well is a hindrance to me. I can capitalize on the gain, the gain in utility from each person because I pay them more. They're more incentivized to work and it's making me more money. me more money and that's why the ceo is paid so heavily and i said a good ceo is paid so heavily because a good ceo is expensive yeah patrick hilton my lord yeah your people yo everybody rates leeching patrick hilton my lord that remember this you know when the helicopter flying you know when helicopter flying legion is on it on helicopter fly out legion is on it when helicopter fly out Legion is on it right but when the building is there

Patrick Hilton is there right yeah so and he's the person that Legion assigned to hand that he trusted

exactly bringing in a CEO yeah I rate that man I mean his compensation is strong but I I've met the case

to our bedroom and say I'm crazy that I still think that he's underpaid oh oh yeah I would make that case too a bedroom with him and say I'm crazy that I still think that he's underpaid oh oh yeah I would make that case too I'd be fine with me

yeah I still think he's underpaid because if you if you thank you I'm pausing I'm pausing quietly pick up BAM

BAM Studios pick up BAM from BAM Studios with this nice one I'd love to say it was sponsored by Wissinko but it's not BAM paid for it pick up Wissinko anyway we're big up we think anyway yeah help us make some money on this market right i'm not i'm not i know it's been a while but yeah but big up we think

yeah yeah yeah i mean i mean some money and they make more and they continue to grow yeah for the people long term i mean you can't go they're much much much much much much worse long-term picks and we're seeing yeah it was one of the really strong really strong ones yeah you can say i won't call them the ncb of of of their sector but they're not oh they're not they're not they're the we single of their sector big they're the only thing. And Wisinco is still very much Jamaican, which is impressive to me.

Yo, we lost so... Same thing with Sajikor and the last thing there. We spoke about how we lost Sajikor and JMMB is bringing it back. We lost so much. Life of Jamaica.

Yeah, man. So you talk about, yo, how much foreign people are in here, invested, owning companies in Jamaica. We lost a lot. Yeah, but big up Olim yeah man keep it here and making it here remember that you know for almost every business everybody there's something i think that bad ceos love to do

anytime nothing going on in your little plot of land you start look next door yeah yeah now we're going to concentrate on exports to exports find it right here so um we single did not focus on april exports yeah they don't even know even though i don't think experts are like what two three percent exactly domestic market is doing so well for them yeah carry cement bringing back local local production the thing there they they were they were exporting to trinidad back in the day yeah but you recently they put out something saying, hey, they were cutting out exports, putting everything local.

Which was expected. They made better margins locally too. Thank you. People don't understand that, right? I don't know if people see that. I don't think people go that deep. I know people that don't understand that. Here's the thing.

Part of that same thing that we do with Sinko. So with Sinko, they made it locally. They do it locally. They find it completely locally. And it's always easy for a bad CEO to look over once things crack they pressure them

to start talking about them going to do for export the truth is outside of Jamaica is a wild wild place and there's countries like China

that can make everything you can make for cheaper and even if it's not cheaper they can just decide here it's cheaper we're on the market so it's cheaper now

boom what are you going to do about it nothing and they can service more markets so yeah yeah so maybe i can't sell to jamaica because jamaica only have 2.7 but in the caribbean altogether 100 so okay maybe i'm like all right so we produce 400 odds and we'll launch some other different brands but flood the market with it yeah try just make half a percent profit let's just see the market for two years and then we'll try and make profit you want to go there and compete against guys who can do that

i mean there's big money out there but there's big sharks out there yeah man sometimes you have to love the pond that you're in yep bigger pool bigger fish yeah you they say you want to be a a big fish and a big pond fighting on a big fish or you want to be a big fish in a small pond or in this case i'd like to say you want to be in the pool that's growing and growing with everybody because we don't know who the giants are tomorrow going to be because water is water that are overflowing and spilling out pulling us out of the caribbean we say jamaica the financial capital of the world yeah um the caribbean definitely not the world not yet one day i misspoke oh god i wish but somebody just said something also one of the questions somebody asked thoughts on the

number of private equity that has come in recently do they look at the u.s market any at all and any thoughts there they you look at the u.s market and seaf i wish i knew answering first um thoughts on private equity i mean that has come in recentlyAF, they have a deal with Sajikor where they're pushing 100 million into private equity. I think Sajikor is financing 20 million. This is US. If you look at that,

the fact that they said we're investing in the Caribbean, but Jamaica will be our major touchpoint through which we invest in the rest of the Caribbean. Yeah, hub and sport model like you you just the fact that they're here in jamaica to invest in the rest of the caribbean something good is going on in jamaica and we're dragging the rest of the caribbean with us

yeah it's funny because the caribbean was i mean i mean you know we were great you know for a long time we weren't financially i know it looks like we're going to come up again and everybody is taking a beating. Taking a beating. Okay, so what? We're skin so thick, we're used to the beating. So you call that beating? No, I'm not.

You get me in regular and we can budget. Yeah, have some water. Yeah, well, you guys don't have small loans companies? You don't pay their loan companies? Yeah. Oh, you're going to need that when you're poor. Guess what? We have a couple of companies that offer that service now.

Yo, think about that. 10 years ago, Access Financial was a small company. Small company, yeah. That has actually grown like a legit 10 times its share price. I think, I don't remember the exact details. I think the share price went up to $18. They had a 10 times stock split. And it got down to, so if it was at 18 it got to 1.80

something cents about the price right and the share price got right back up to 18 and where they actually i'm trading at 40 something and proven proven so it's at 38 yes and it's the same company and it's the same company that started at that that's how huge that company is yeah i imagine in the caribbean you're not necessarily used to but imagine what they look at they're doing that too they're going abroad exactly companies in america i know i say this a lot but i love hearing look at jamaica stepping i think jamaica's population so when we look at the type of the size size and population of Jamaica is restrictive in terms of how far they can grow doing certain things. So we need to actually be in other markets, pulling pieces of those markets towards so we can be on a certain level.

Just generally, you need a certain level of population for certain things to happen. just generally you need a certain level of population for certain things to happen in fact i suspect that part of why we have had a lag in economic growth is because we don't have enough of a population boosted in order to do it a certain way haiti as haiti at any day should be able to grow and i think might have been growing heavier than us but it's able to grow because he has 10 million people um poor us, I think they have 10 million people and the whole of them have to eat. Yeah. The whole of them have to buy food.

So that's what I like about BPO. BPO is, it's not necessarily like this specifically, but it's a company abroad is paying, instead of paying a worker abroad,

I'm going to pay a Jamaican. Yes. So when I'm at that call center, I'm going to pay a Jamaican. Yes. So when I'm at a call center, I'm being paid by, say, Amazon to take Amazon's call versus Amazon paying. Yes, it's a lower rate than they make, but that's just markets. Yeah. So I'm not going to argue that one. But somebody, they're just saying, hey, we pay a Jamaican. That's somebody in Jamaica not having to pay a Jamaican.

So his money can do something else in the economy. That's somebody in Jamaica not having to pay a Jamaican so he money can do something else in the economy. That's beautiful. There's a specific name for that. Remember when I was doing the Bloomberg course? Oh yeah, you're right. Yeah, we were talking about how if they could, I think it was Buffett himself who said if he could put his workforce on a barge and ship it across because he wants to take

advantages of the rates. Yeah, the rates, the wage rates. The wage rates and the difference between the two. But yeah, the thing is... But that's some big money plays. To US... Shout out to the people that are doing those locally because they are there.

They are the people locally who are investing. Because there's one and two people in houses who invest. There's a couple of people in those houses who invest against that and some of them do it very well. And there are actually some quite rich people in houses who invest. There's a couple of people in those houses who invest against that and some of them do it very well. And there are actually some quite rich people in Jamaica who do it on their own and have done it on their own for a long time.

What I know of is, I mean, he's American, but he's in Jamaica all the time. Like he's in his second home. Usual story. Come out here. One of them young girls. Yeah, yeah.

The exact same girl. Same girl like Frenchman. And Frenchman to him. All right. So yeah. usual story come out here one of them young girls yeah yeah the exact himsie gold himsie gold at frenchman and frenchman to him all right so yeah thing there um so on jamaica on the company's part hey i'd rather pay i'd rather pay this u.s worker because it costs more to pay him than jamaica on jamaica's part we don't have jobs. This guy needs to be paid. Instead of squeezing him into another job, where we, so we crowd the job,

and just to make employment higher, and he'll probably get paid less. He'll just take some of that American money, come across. And why it's, in the reverse, when the company, when a company goes and invests in,

buys a company abroad, that's, all right, so this company is in its own market, making growing big whatever and that money is belong that money belongs to a jamaican company that money belongs to jamaican jamaica yeah immediately he's like it and you're not robbing but you're grabbing from his pocket oh you made that money pass it yep yep yep so you think it's your money no i have a hundred percent claim on your profits yep speaking i paid a vm taking the barbados loan company taking a piece Yep. Yep. So you think it's your money? No, I have a hundred percent claim on your profits. Yep. And speaking of,

you paid a VM taking the Barbados loan company. Small loans company. Taking a piece of the small loans company. Yep. Right when Barbados is at its point

or it's going into its rough time with the IMF. But I feel like, I feel like Barbados can come through with fighting. It's always easy

when you have the part. Cause you don't see in Jamaica go through the part. Which is why we also have a run. No, we're the we're we're the poster boy you know you know yeah where are they the germany the imf or the mf did something with germany yeah but i don't think it's different but yeah it is in terms of advertisement students

are history yeah yeah now where they see it's possible with it again yeah but yeah you're right you're right it's great to see us reaching out grabbing through something that's of course when we already jayman be doing it also jayman be doing it now yeah um jbg been doing it and doing it again yeah um i had a good conversation about the the way they're going to sell chickens because remember they're actually best-selling chicken going to be sold abroad yes they're branding this one

they're branding it yeah yeah yeah it's an entire corporation a proper corporation full vertical yeah nobody can kick you out exactly

you're all that bad bad and we're already pressuring them on the eggs but what's killer to me I was looking at looking at America chickens

and the true competitive market competitive in terms of margins and the true competitive market, competitive in terms of margins and the way money can be made in America. Talk about Jamaica being restricted because of the size of the population. America is protected by the size of the population. It's hard for,

when things are bad across America, things are really bad. It's hard for things to go bad across all of America because there's so many micro economies within it yep it truly is a set of states that are united exactly it's truly the united states yeah yeah that is their strength and america has micro markets huge you can't no speak on it because i know where you're going micro market yeah sure jbgs if you listen to jamaica

brothers is um advertisement out here oh our chickens have never seen hormone they're naturally grown blah blah blah yeah america eats that up when america hear organic chicken brother organic jamaican chicken organic jamaican jamaican chicken hold on you know i like the nice heavy cell but i'll tell you make it at home first jbg if you are living in new york in the coal on the babylon thumb and you go in your supermarket or your bodega in new york and you look in the corner and you see best dressed chicken there's no way you cannot bite you must bite yeah you must

you must must bite and you say there can't be a real I don't know a real Jamaica broilers this

are the real best dressed chicken yeah so remember saying 2.7 million Jamaicans are in Jamaica 2.7 million Jamaicans are also in the diaspora

yeah and those Jafakans I mentioned earlier if you think oh my god they do everything they're more jamaican than me that jamaican tattoos are jamaican tattoos and if a thing there if they do do the organic hold on let me save myself a little trouble not everybody that i know in florida has a jamaica

tattoo is a jamaican all right i cannot take the heat when i get to florida all right guys i'm not talking about you guys you don't even know what i'm talking about my brother's not talking about it's not you guys it's chill if you have a jamaican tattoo you're jamaican all right just chill please i can't i can't hit flames yeah man so that organic push the americans love that the fact that um this wasn't hard they saw no hormones this saw no gmos that That itself is a marketing strategy. You just put a seal there and say, hey,

naturally grown chickens and you can charge more. Yep. And the root of America, I don't have to sell to all of America. No, I just have to sell

to a specific distribution. Distribution runs America. Yeah. And again, they're smart. They go, you take your easy sell to do your base and then you use the base to go into the harder sell so i go through the jamaicans who know jamaican has to

be convinced about the quality of best dressed chicken right and so i'm gonna buy best dressed chicken over over over i won't say i mean i said tyson whatever i don't care okay tyson's a boxer i'm not eating Tyson. I'm going to eat best-dressed chicken. It's the best-dressed chicken. Everybody's dressing best. No, pick up the BOJ crocodile. But yeah, it's the best-dressed chicken.

I'm going to buy that. And then immigrant communities speak to each other. Right? So the people from Barbados in America, the people from Trinidad in America, they're all going to do it, right? Yeah, you're in college in the US

and your parents give you money and you're over there you go to the supermarket I'm going to buy the best dressed chicken if it's there because I know that

then you must buy it you must buy it there's no going around it and the chicken that you know and the weird fine chicken with them big and look weird yeah

injecting it's a real market there for people and then immigrant communities spread if the Mexicans get onto it that is it injecting. It's a real market there for people. And then, immigrant communities spread. If the Mexicans get onto it, that is it. That's it.

It has worked the other way. It has worked the other way. Sorry to cut it, but it has worked the other way. Remember that one of Jamty's top 10 shareholders is Iberia Foods, which is a company

that specializes in Latin. It's not just Latin. I don't want to Latinx Latin it's not just Latin I don't want to say Mexican it's not just Mexican but yeah proper flavor and so because they like

what Jamtee is doing and they're in the same accent take a stake in there he distributes for them on that side I think the tea is so he take a stake in Jamtee

as a result of that yeah you see how the synergies work best dressing but it's a rich man's game so it's a slow it's a slow game yeah

that's why they tell me to make a time to bill up so if you want if you want to put on a pension for your youth yeah man start every month you put some money I rate best-dressed chicken, but it's a rich man's game, so it's a slow game. Yeah. That's why I'm telling them to make time to bill up. So if you want, if you want to put on a pension for your youth, yeah, man, every month you put some money in some best-dressed chicken,

yeah, man, because there's an entire U.S. corporation. I saw a picture of the, some Jamaicans outside the new headquarters. They built an entire headquarters and they must have farms

in Virginia and whatever down here. Right down the line, I rate them for that. I think the thing they recently acquired where they, which will feel a touch point for the best chicken it's in a complete different state it's in a state that they were not in before yes so when I completed the market yes yes yeah oh no Jamaica we've been poor so long that's what that's everybody has been privileged yeah poor people also have been privilege we know for work hard under pressure

we know what to do everybody also oh wow big up big up best dressed chicken yeah man wow really good push

you know who's a rate you don't make the money you should make but you find it anyway Derek Cottrell from Derry man oh yeah oh my god

that man company has the margins are so thin thin but the man find it anyway he have to go fight and find it. Anyway, he have to go for it and find it. And his pledge

to make, to buy a company every year so long as he can find the money. Yeah, man, as long as you know

he can find the money. It will grow. It will grow. And then, I think what he, the plan is grow and rationalize so he can

find better margins out of the companies he buy. I think he's using a Facebook strategy. Facebook is using a strategy that's even bigger than him.

It's a conglomerate strategy. So what you are might not be as lucrative or it might not last as long as you'd like, but it carries and that's the good, that's where revenue is good.

But it carries so much revenue that I can skip my revenue for a little while or I can borrow against it because I have so much revenue at the banks. Oh, your cash flow is nice. Your cash flow is great.

I borrow against it. Even though your margins are super the banks we'll do that oh your cash flow nice your cash flow is great i borrow against it even though your margins are super thin i bargains that and my revenue can buy an entire thing which is why i buy things like cff caribbean flavors and fragrances so i'm biting by cff wood cats wood cats and wood cats the type of thing distribution he's buying something he buys a company and makes pallets that's the energy right there immediately because the man how much pallet you think him using in operations it just makes sense he buys a company and makes pallets that's synergies right there immediately because the man how much pallet do you think he's using

in operations it just makes sense it literally just makes sense if you're going to spend heavily on something own a piece of something and that's why I love when these things

work together that's why in fiction we can read about that apply the concept in real life it's the same way you take the concept here if you're going to spend heavily on something that's why I tell, we can read about that. Apply the concept in real life. It's the same way you take the concept here. If you're going to spend heavily on something, that's why I tell people,

don't complain about the bank fees. Buy the bank shares. You'll get the bank dividends and it'll make it less painful. That's exactly how it goes. It's the same concept you bring to your real life. Think about this. How many big companies are waiting for JPS to list because we spend so

much money on jps that i need to at least eat some of these jps dividends when they come out or own some of the jps here but just our straight principle but i bring it to people in the same everybody in the same way in the real life you think jps can listen i don't own some jps i have to pay a light bill that would be i know so you're making money that is the lot that is the one stock that i will own out of principle i will own and not sell out of principle it's the only one that i will remove my my my financial common sense for and own those of principle because i don't have a choice i must own it and i think that little me when i have the money must own some gps what about things like Wigtan?

Yeah. Wigtan that works for JPS, that supplies JPS. What do you think about it? It only makes sense. Oh my God, man. Certain things, that's how the synergies work together.

And if you don't have a whole heap of money, but if you work for a listed company, if it's 100 shares, that only can buy it. Even if you don't work for a good company, even if you work for a crappy company, own at least 100 shares. If you're going to work there every single day, you need to own at least a piece of just a

principle part of your work straight up just working for yourself yeah man because guess what your grandfather couldn't do it but maybe he could yeah as we have had companies for a long time yeah but maybe once if you work somewhere and it's a listed company own peace nothing beats ownership not at all that's my thing i mean i have i've owned maybe i made quite a bit of money off of not quite a bit a good amount of money yeah you mentioned mj i just happy earlier tell me about mj i'll tell people mj oh so you're talking about the the value of it the value of it versus the price the price being the because the price all right we are see price is what price is value what body is always subjective price is we got the people who come girl mmm

surprise is value it just might not be what you think is the worth of it so then the price isn't where you value it yeah but I guess one pays for it mm-hmm so I can go Bobbo MJje being boy ten dollar mje now everybody talking about now but mje have another 16 plus and it currently has today ended at ten dollars eighty cents sixty percent growth i should i i think mje should be having nobody well nobody will buy it so guess what i don't touch it yeah yeah because i know better too you're right right. I fully believe I understand the market sentiment

that people does not buy in. MJE has more than that. So until they are given a reason to have to see it. And sometimes they get the reason and still don't see it.

Yeah. So I've been praying for Chris Berry to do a nice dividend on it. Just like MPC. Just like MPC. I feel him kind of go, yo, not open shares or something. Rights issue.

You have to own shares already for EPS. Just order VEX. You should have come in from the IPO. You ignore it. And the funny part, you can buy two shares if you own one share and it gives you

a good price so even though we lock you out in terms of owner fees we still get a good deal on it because that one part is the US exchange rate

I guess the best part they don't they're not really giving you a good deal they're giving themselves a good deal but the beauty of the market is that you cannot

give yourself a good deal and not give me a good deal also yeah I've tied myself to the ships of a richer man the rule is that anything doing for himself happy for me you think leeching did one give me a 29 increase on the ncb dividend this year no i've been gonna keep it myself and you should but he was very happy taking it for himself everybody yeah we are good out here.

NCB flat though. What do you think of the $200 today? AJIC should do well for their bottom line. The five bill that them get? Mm-hmm. Big up that. That's a CEO that bought into his company too. I rate that a threat.

I don't even know the guy, but I rate that a threat. It's a CEO that's some good old money and who else and happy and such a quarter maker yeah imagine you you know how happy you should be you're buying your own you're buying a company you work hold on for with a bank that that must show you people saving up and saying it's a very good company and you get a band sale i work my teeth off of this yeah man give me a piece i got a piece and got a piece how much you want how much you get like 3%

whatever it is I rate him yeah man yeah man that's how it should be people don't understand I think we're on a tangent but people don't understand

ownership and the implications of it so in terms of if you want some money to AJC and take a dividend they can't take it by themselves

the owner half a get Mr. CEO get a nice good 3%. Yeah, man. He's up with some money, so he's happy with that. Plus his paycheck.

That's how it goes. My boy is happy. If you think Scotia is leaving the area, then you understand that Scotia can't just leave. Can't just leave. Even if they're paying less attention and they're going to leave in a couple of years, they're downplaying themselves, which I have said in the, not downplaying, but they're

reducing their footprint. They know I'll just leave. So I'm going to leave somewhere in the money. I'm going to wait for the money. I'm going to go for the money. But they can't pay themselves the money alone. So they're going to give themselves a dividend. It's funny.

You know what I'm going to look for with Scotia? I'm sure there is a management line from the owners. Owners? Yeah. I shouldn't say I'm sure. I am not sure. I suspect that there is a management line

and it will be very interesting to see over the next few years if that management line increases in cost because that's a way that the owners can feed themselves without paying a dividend.

Nobody kills a company just so. Exactly. And the thing is... And that was a big bone, a point of contention.ention sorry to cut you but there's a big bone of contention with caribbean mint back in the day and still is because have they won last caribbean pay a dividend uh quite a while i don't think they paid a dividend in but they're recently asked you know they're different they're recently asked if they're going to pay a dividend they're always

but yeah they almost went to court over it but what happened was what we were saying for quite a while actually well the old owners used to bleed it through the in my opinion and not take that lawsuit but in my opinion the old owners used to compensate themselves mainly through a lease agreement which allowed them to get money without paying a dividend which is why the whole restructure happened yeah and the thing is we can't pay they can't pay a proper dividend until the preference shares. They said they won't be paying a proper dividend

because the claim on the profits that the preference shares has. So in other words, the space that would be given over to a dividend essentially goes to the preference shares.

By the preference share owners. Which, who are the owners? Who are the owners? Which are the original owners of the lease. Okay, but then is that still going on or is that done now? No, that's not done.

The lease is done. But the preference shares are still there. If you wait non-carriage payment to start paying dividends, because it gets a lot of cash and it's paying towards something. And it's a major company. So watch that preference share line. Watch that cash flow statement and you can see when they're buying,

when they're repurchasing the shares the second the cash flow shares back and get ready for it yeah yeah the second the cash in those shares get ready for it literally that's how it works the second matter of fact matter of fact if i own the company if i own the common shares and i also own the preference shares and you cash back in the preference shares and i own the majority of the company immediately after paying my dividend. Give me right back. I mean,

I just get some money because you just bought this back from me but I want more. Yeah. Because I need to pressure you. Also,

I need you to understand that this is, it's like a shift in the model of the company. Shifting strategy. Yeah. Remind me of my SVL. You see,

SVL got reworked. It reminded me a lot of how career I don't know where is that it exists to make money and pay out that money heavily. shipping strategy yeah remind me of SVL you see SVL got reworked reworked and it remind me a lot of how Carreras don't know where is that it exists to make money and pay out that money

heavily every quarter exactly very lean that's what a company is there for I'm not where does it pay most of its

dividends to again who it pays SVL SVL it pays dividends all over but there's a good pay a lot of it goes to MJE you know MJE MJE has quite a lot of it goes to MJE

you know so MJE MJE has quite a lot like 70 something percent of MJE is SVL 70 how do I

there's a number it was 50 it was around 50 at the time of the listing I haven't I haven't updated in a while to be fair but I know

but I know that's why it is and so what I do is I pay heavy attention to SVL's dividends SVL's dividends because of what it does for MJE. There was a time when SVL used to pay 17 cents as a dividend. It pays more now.

And that's before them touched Ghana and them hitting Ghana heavy now. All right. So before, we took a lot of PB talk. People talking about buying based on PB. And Randy's response to them was, you buy Mayberry? Yeah. If you buy, so MJE. Yeah.

If you believe in NAVV you're supposed to be buying MJE and Mayberry but then they'll say that they think that SVL is overvalued right now oh yeah sure but they don't actually say that

because I guess I'm actually tricky I make them tell me about them people SVL first yeah I do that actually it's so funny people don't actually

people would make so much more money if they simply invested in what they actually believe because you know why the second you have to put your money in it you realize you're right they don't actually and people would make so much more money if they simply invested in what they actually believe because you know why the second you ever put your money in it you realize a rat i don't actually believe it that is the real test you know skin in the game big up man like ryan strong yeah mandatory skin in the game you'll find out if you really believe what you're saying the second you're gonna put your hard-earned money on it yeah man that's what you're doing yeah man yeah man talk you're easy for talking out onlyearned money on it yeah man that's what you're doing

yeah man yeah man easy for talking about when you really want if you really have it right man you don't put your money on it i don't mean put five grand on it if five grand is more is that small money to you if you have real money you're really doing it money there real money is in the equity market you know there we go i don't have any real money outside of it that's exactly what it looks that's exactly what i looks that's exactly what i'm saying you can't get it wrong you can't afford to get it wrong because you know we make this money every cry which is why i do what i don't talk i talk to the people to whom i mean i don't knock rich people i'm not knocking anybody the plan everybody should want to get rich but i talk to the people i talk specifically mainly to and for the people who might not have a whole heap of

money or to whom the money i'm putting in is serious money yeah they want this rule this rule invest in your eye seat and you're going through the u.s stuff you see them in all the courses i'm telling you it's a general quick rule only invest money you're willing to lose yeah let me tell you something stop listening to what people at bond and grassy monetary right now invest the money and pay and treat it like you can't afford to lose it and that's when you will stop making mistakes and get your life my first investment was ten thousand dollars at a time when ten thousand dollars was very very real now but it was very real to me because my paycheck at the time was not heavy or anything and i was just i was an intern coming on to i just left it no you know i like me i said i was an intern the summer before

it was February you had said that you got on to the I got on to the thing there but my paycheck wasn't really high I think it was on a project for the man

entry level government not government sub government some go yeah so government adjacent yeah man so I wasn't

I wasn't really making enough money when I put that $10,000 down best believe i was wondering what the hell is going to happen now i will lose it i don't have it but i'll go lose it so that went that hit me hard and when i said when he said when the thing randy just said about investing it like boy you can't afford to lose it.

It's when I said this thing, I think I couldn't lose that $10,000. I couldn't lose that money that the $10,000 was not worth. Yeah, that's where we go. That's where we go. I mean, my life had one day, I'll tell my story separately, but yeah. It's the same thing.

It's the being in the spot where you can't lose the money. Yeah, where it's not taught, not taught. Nobody tell me whether or not it's a good theory or it's a good deal. It's, I can't lose the money yeah where it's not taught my talk like yeah i don't nobody tell me whether or not it's a good theory that is a good thing but it's my can't lose the money so this must work and it work and and then and then you keep treating it and that's what i keep doing and if if i ever lose that i lose i don't know if i'll ever lose the ability to invest because at this point i pay attention to valley but yeah it's treated don't invest money that you can't afford to lose invest every dime like you cannot afford to lose it that's how you should do it that's what i say yeah sorry it's not everything warren buffett say you need to listen to all right warren buffett even said don't listen to him

for everything he said don't listen to guys like me and then what them do quote him and one of his rules of investing is see those rules i just gave you break them yes and he's consistently broken them by the way oh money is on the table and if i break that rule i can't make money i think that's what i do but he he knows that codifying them in a way of rules it has structure to it but but you lose some magic that the world it's not one one size fits all there are other ways to make money you know what it is it is the understanding that no matter how much you like it how much how well it works no matter how much you love it no matter how it go you can always be wrong so always leave room for you to be wrong that is why i'm good at investing

because at the end of the day no matter how sure i'm at the end of the day I go yo what if I'm wrong and I come right back to the first rule wizard's first rule I won't read it properly just because I'm a nerd I'm in right now it changed my life

it's that people are stupid given proper motivation almost anybody will believe almost anything because people are stupid they will believe a lie because they want it to be true or because they're afraid

it might be true and after you let me tell you after you do what feels like heavy research on a company you decide that a lie doesn't always have to be a lie a lie can be xyz is going to make heavy profit a lie all right it's going to touch some toes i don't mean that bad way but a lie can be i might edit this martin a lie can be that fontana is going to deliver profits to a level that will justify almost a doubling of its share price

off the back of one store in the middle of kingston's most populated area with people and with other stores walking distance away from another huge similar store with a guy who is not foolish when it comes to the market and will step his game up. Not saying that it won't be great.

Yeah. I'm saying the lie that you want to believe is that one store out of a company that is a five-store company and everywhere else

that there's a Fontana, that Fontana is the thing. The place. In Kingston, Fontana is cool but it's not the place. Fontanaeville what fontana represents for mandeville is not what fontana represents for kingston yeah yeah to us it's cool there's this new place the big f looks like a superhero big up fontana i rate them but that store i do not expect to cause them to double

in earnings over the next 6 to 12 months. Yeah. We have to understand it's not that a company isn't good. It's just that. Is a company good to the tune of its share price expectation? Does it match the value? If you think it's valued at $8, I'm not being cheeky or anything right now. If you actually think you're paying a good price to buy a Fontana at $8,

go ahead but just know the general market sentiment around pricing and valuation does not in my opinion fit an eight dollar stock at the moment it dropped to seven dollars and thirty one it's coming down to a good p you know well not now but in time hopefully i was pia that 731. big up maybe why do people rate chris berry you answer first since you still work for him but people don't i don't i don't think a lot of people are very good yeah i know we rate chris berry yeah so why do we rate chris let me not talk for other people why do you die red chris berry with the caveat that you might biased because you work for him no the thing is funny my interaction with risperry is very low at work i would think i can't say i've spoken to the guy more than so probably random conversation in passing in passing and it wasn't like he was speaking to me directly or anything it was

i was in the conversation so my interaction with him is very low it's from a and rating before before i met him we saw what i saw a lot of his that is true we were talking about him long before before you moved there yeah that is true that is i was i'm on the market uh learning how to make money on the market i think i learned at that point that i did know how to make money on the market i've learned a good amount since. I still have more to learn. And I saw him leading a lot of where money is being made on the market. You can see MJE, you can see Mayberry in a lot of places.

So MJE, if you look at the market, you can see what they own. Then you understand the positioning and what they own then you understand where is the positioning and what they want for the company and what how they can say we making money on this market and MJE listing reveal after that when they say it yes only started to see that a lot of what a lot of that the buyers and the price of the buyers yeah meant that we would have been doing a lot of what a lot of that the buys and the price of the buys yeah meant that we would have been doing a lot of the same things that he was he was doing and we're making money doing it at the same time yeah remember the svl deal when it when it started coming out we saw we look at it because

we saw the financing for the owner the people that were buying out SVL, Zodiac, and when we saw that hey, Mayberry's coming into this too, Mayberry's taking a cut You said Zodiac and like 99% of the people was into this last You remember how long that Zodiac conversation was Went to investigation Went to investigation and figured out who is this guy, what is this movie about

That is This group selling to a subgroup of himself or something like that. Two years later, we don't know what we're talking about. So yeah, so we saw that Mayberry

was taking a big part. A huge part. Yo, that's weird. And as we watched it, we started having more conversation around SVL because the talk wasn't Mayberry at the time for us.

It was SVL because we were talking about what's happening with SVL. Exactly. It was around who are these guys. And we didn't know who it was. I kept going back to a certain holding company. You couldn't find the names.

Funny enough, I found one. You remember, I found one name. And it started to match the director's circle. I won't go too close. Then the person sits on a couple of other boards through somebody else. And you're like, wait, hold on. That means that this is this. I still don't know.

A lot of people know that. In my view think i'm not sure let me cover myself but that family i don't think i know that that family controls those two companies or so many companies in jamaica yeah they're very quiet with it yeah very very quiet with it very subtle you know i met them oh yeah yeah face? Yeah. Face to face. Yeah. Impressive. Impressive in terms of what has been built. Yeah.

Yeah. Back to the podcast, I think we're talking too cryptic, right? Yeah. People hear that. I'm so sorry. Yeah. So the thing is, so we saw what happened with SVL. And then we really saw what's happening with SVL.

When the company started to shake up, we started dubbing the newspaper about Mayberry, which was poor reporting on, as we discussed with Ryan before, poor reporting on Which answers the tangent that we started on

about why we rate Mayberry, but why I think a lot of people don't. But keep talking and I'll come back to it. So,

we saw that and then SVL reports started coming out. So, we expected that to happen. I personally

didn't expect that to happen. I think $1 billion clear slapped the bottom line with the restructuring of the company. No, by that time we expected it. By that time it was known. It was known

they were in there. Do people know that I need to known. Okay, man. It was known they were in there. Do people know that... I need to know how to say this. Do people understand the influence that Mayberry has over Supreme Ventures? I don't know if people realize that. Some people do,

but in general conversation, I don't think people realize that. that some people do but in general conversation i don't think people realize that and that business is such when you understand the flow of value it is such a funny thing that i'm going to say every round those guys at mayberry understand his business yeah check the boards check the moves and you see what happened yeah they influence the business they are part of because they also understand how to do business. Because if you own something,

you're going to take care of it. Exactly. They are a great addition to almost any board because they understand how to get this company to make some money. I can tell you that.

I can tell you that. Big up Khalilah. Big up Khalilah for that. Big up Khalilah for taking us out, by the way. You guys should check that out on YouTube.

Khalilah Enriquez. Yeah, you were at our launch yesterday so you know when recording this recording it the day after it was really good yeah really good launch and I'm really excited about Khalil

we're jumping all over the place I know people listen to this and they're annoyed you're just talking about SVL you're talking about money hey jump back you're supposed to tell me why you rate Chris Berry

tell us why you rate Chris Berry and I'm going to tell you why you rate Chris Berry he understands business he understands the market he understands how to get money out of his market. And he understands how to add value to companies he's a part of. There we go.

I mean, that's straight up. I said earlier that unless you can own enough shares in a company to direct operations or, you know, whatever, to help yourself more. Yeah. To build up on the board and have some influence. But it's a guy who has found, has but you say same way i read with sinker because they didn't try and push overseas they made it in jamaica they remained locally made in jamaica not that chris burry never played overseas but what what percentage of the junior market was listed by mayberry i think it was something 60 something percent like so many

companies and we act like that's normal. Yeah. One house and... Directing the market like that. Think about Mayberry too. Mayberry just a broker, you know. Mayberry. Investment bank. A broker investment bank. Well, think about the bigger players in our market.

The brokers that are tied to a bank or a bank-like thing. Yes. A bank-like structure. Structure. the brokers that are tied to a bank or a bank like yes a bank like structure tied to a commercial bank definitely is killing them heavy money yes and they have a bank behind them neighbor is not supported by a bank in that way that's true so maybe by themselves when i make the money yeah it's so funny it's 80 20 rule in the pirated principle in so many things right it's them alone i mean obviously not them alone everybody's doing everything but it's them them them do it that's the truth is that's the truth response to all money versus the bank money yep

and that's why i brought up the khalilah point because on it when she had asked about the lumbar ipo everybody on the board we got the guys on the board and the guys around you guys should really watch that episode this is good episode from kalila taking stock check it out just put in taking stock on youtube or taking stock kalila on youtube give it so much give her some push pick up kalila for what she's doing um but when they asked about the lumbar depot ipo and kalila said you know what do you guys think and both you let's say you know so what do you guys think and both of the guys said you know i wait on the prospectus safe answer good answer and i say maybe it hasn't gotten it wrong yet yeah because maybe it hasn't gotten it wrong yet

it doesn't mean i'm not gonna wait on the prospectus obviously but also why am i gonna wait on the prospect of our company where a prospector tells you three things it tells you the amount of shares the share the share the share account what's gonna happen with the shares um the share value what value the committee marked that which allows you to see what they're truly valuing the company at based on the shares and the price yeah and the financials of the company yeah i already know the financials of the company is listed i already know the the share count because of the circular yeah and i already have a the share count because of the circular blue yeah and i already have a good idea of how they're going to structure the ipo slash sale yeah yeah and i

already have an idea of the range within which i'm going to sell so i can run it at one dollar or two yeah you can say and i can i i'm in excel i literally just have a the slot where i just change it from one dollar but into two dollars so you see the different layouts yeah yeah it's the first in a long while that i'm getting to i'd have to wait on a prospectus because i can tell what it says now of course you always wait on the prospectus because that's the contract that's a legal document and it gives it you can a little more insight into the business there's lots of little things yeah yeah so what if they put like what if they what if they put a second reserve because

blue paw blue paw shareholders would get automatically lumber company shares yeah but supposing the coming ipo blue paw shareholders also get a reserve which means that if you're just a reserve you just have blue paw shareholder as of a certain date to come which which then means you just have to go and buy some blue paw shares which has its own effect on the market as we saw with Jamty which can cause Blue Power to go up so maybe people would jump and buy then in order to get in there's so many little things that can

be there so I'm not knocking reading the prospectus but in a moment like that I think I'm going to rely on my guts and say yo I haven't seen

Mayberry get it wrong yet and doubly so if you look at MJE so Mayberry is listing yeah Blue Power Lumber if you look at mje so mayberry is listing yeah um um lumbar if you look at mje one of their portfolio companies is blue power so they're taking a bet on blue power they own 19.7 no no yeah 19 point something percent and then it's going to IPO. Yeah.

Yeah. And they're probably going to put a little, well, you see, that's a funny thing. They might not put a shareholder. So if you're thinking only from the MGE perspective, they might not put a shareholder benefit in there because I don't think they want MGE to own more than a 19 point whatever. Right? No, but not. Because they don't want, if they go above that, they become a company and they don't want that

what might happen is that because I think Lombard is going to issue more shares they're going to get diluted so they're going to have to buy right up

everybody's going to buy up and they're not going to fight with everybody so there's definitely going to be a shareholder a shareholder reserve

they're not associates so even without it they're still fine yeah but I don't think they're going to leave that I think they're still fine yeah but I don't think they want to leave that I think they're going to buy right back up I forgot the dilution

I fully believe they're going to buy right back up yeah and I'm going to mess up all my calculations for the future yeah yeah yeah just buy right back up to the 19.9

and people ask if I have a red Chrisberry yeah he knows how to make money he knows how to find values in transactions or anything deals find create and extract value that's not a normal thing and do it in a way where i'm

sharing with people people don't give him credit for that oh yeah i've never met the man either so i rate him i mean a lot of the research that i mentioned but you hear us you hear us talking so you get it and i've never met the man either but the man has put money in the palm of my hand yeah definitely yeah how many people i can say i don't know but the man has put money in the palm of my hand. Yeah, definitely. How many people I can say I don't know, but they put money in the palm of my hand. Yeah, man. And the thing is, I've never found them to be,

I've found that these are this, they're transparent about. So, you see the- They're open. I was very, people have found my tweets, I was gushing about how good, it's still the best,

it's still the best it's still the best prospectus that I have ever looked at I would say maybe second to lab own but lab

I kind of bias because of this that's involved with that and then also I would have read that prospectus so many times

over the version it's like yeah it's not for me but MJ his prospectus to this day is still the

best prospectus I've ever looked at like I think about it and I think it's beautiful. Like, they tell you exactly what they're doing. Yeah.

Without really saying it, but they say it clearly right there. They say it almost to the point where the only reason you will not believe that this is what they're saying is if you're afraid it's true. Or you want it to be true or don't want it to be true. Oh, my God. Excuse yourself. And look at leading up to it when they gave us they were remember the uncertainty we faced with other people when they were talking about when they first came and said we're restructuring mje yeah we'll change the company

from change mayberry west indies to mayberry Jamaican equities. And we've moved assets over. Ignored. Market ignored. And we were fully ignored. I tried to explain to people. Guess what? This is the kind of big deal. They're giving us stuff.

No point giving a private company. I don't know what to say. We talk and then we buy. Yeah. I thought we'd just stop bye yeah I thought we'd just stop talking I just stopped bye people you want a simple explanation in case you're ultra lost

I'll catch you up to speed what's happening right now with the blue power and the lumber company has happened before yeah in almost this exact way in almost

there are differences but almost the same exactly to the point when we saw the first announcement about this we immediately assumed that it was the exact same thing yeah so it must be the same, exactly. To the point where we saw the first announcement about this, we immediately assumed that it was the exact same thing.

So it must be the same thing because... And we made money the same way too. Exactly. But we're not done yet, eh? Not done. Same way too. Money was not done.

Exactly. You never know. And his eyes, bumps on the road. Speed bumps are so nice in my head because opportunities for profit. Oh my God. And that's why we rate Chris Berry, I guess.

If you get anything out of that, people, that's why we rate Chris Berry. There was a last part of that question, what was it? Oh, for one reason was that I, it was one of my first

experiences also reading a Jamaican context about like big business moves. I remember earlier with the access thing happened where that's, and that's part of why in my personal opinion,

why I hope for people, especially people, longer people in the market or I would say don't say people in the market don't know, the people in the market long are done so that's me people have been here a longer time might not like him because of the accessing i remember it was always said that yo you know i tried to i tried to accompany from the phone and um let me be clear and say that i don't know that they weren't

meaning i believe it was public sorry if I got it wrong but I believe it was public that they wanted to install a new CEO current CEO was a CEO back then Michael James

was also founder he started a company and people think yo that's wrong that's bad until you understand business maybe I was doing it for a company

that they own they were the majority owner of even if you own 10% then I feel like something going wrong yes a whole heap of CEO lose their job to the 10 and the 5% doing it for a company that they own they were the majority owner of even if you own 10 percent and i feel like something going wrong yes a whole whole pa ceo lose them job to the 10 and the five percent owner like imagine that yeah i'm not saying that i'm not saying he was right or wrong sorry to cut you but i'm not saying right or wrong and the fights fights go how fights go on the winners

win because they win right but the core of it to hear that a businessman investor decides to say i'm changing leadership. And everybody I asked about it told me, yo, I'm going to try to take the man company. I look on it, it's years later, I even talked to some other people

and I remind them about it. And they said the same thing, I'm going to try to take the man company. And I say, you realize that they owned most of that, they owned more of that company than him. So technically,

I would say like in that shoes, I would say, nobody's trying to take nobody company i was trying to change my company i was trying to change my company yeah but i also understand a founder who cares about anything and doing anything yeah but i love that the fight in the fight so much came out and look what ended right look what people look what people like it in the end somebody win somebody lose shares got sold proven got them and proven benefits and now 10 years later here we are everybody get a little piece because proven sell it off or something else

but if you look at it if you look at it this way if we look at it too as i say businessman investor fighting for you own any part of that company you want certain things happening you the way you see this happening is what you think is best exactly and you want to implement i always say one of my biggest issues with the market it's not an actual issue with the market but whenever like a new company comes out me and randy start talking about what the company can do to be better yeah we get the new, what they can do with this. Exactly.

Yeah. We can't sit in the back and complain that the company needs to do this, needs to do this. And we see 500 ways for this company

to be super profitable. Mm-hmm. If the owner don't agree with us, then guess what? We don't get that money. Exactly. And we just sit down

and make hands crossed waiting for this man to do this yeah man this darn thing that we wished we were talking about would only make sense

for this company yeah but if you're not seeing them I see it exactly I own a company I want to see my best vision of the company realized

exactly it's ill it's 65% I did want my brother Michael to raise the dividend by he never listened he got 29

Michael he didn't listen to me but guess what he own a whole lot more right so i just have to keep myself quiet and hug up the 29 percent that he decided 29 percent rise that he decided on right that's just how it go might is right if you want to beat somebody get more shares on them have you say and then the rules at the end of the day the rules of everybody because he can't help himself whatever the rules go for him, it go for every single person in the market. And so we're talking about the fact that if you're invested in a company,

then you're really running with a rich man that own it or something. Exactly. You say like that. That's exactly. In this case, Chris Berry would have, Mayberry would have been

the rich man that runs it. And they think, if anything more than, the way I see it, more than the other parties, Mayberry understood that it's not just a majority owner thing. Because Mayberry in the equity game

heavy. So they fully understand that. If we take this with, if I take this company and do whatever this thing, then I'm bringing other people along with me. I would think they know that

more than the founder. In my opinion, I see a lot of times on the market where the founder doesn't really seem to understand and say,

I know your company alone, we're here with you. It's always hard to have people understand that, what it truly means to have given up

a percentage of ownership and subjectivity publicly. And there's benefit to it. It's just so it goes. Nobody's being unfair to anybody. And given up a percentage of ownership and subject to yourself publicly and there's benefit to it it's just so it goes it's not nobody's being unfair to anybody you got a lot of benefit for it you ask for a lot of money and here it come here it came here we gave it to you yeah yeah and we do things like we accept like i always say people ask me i grow like yo it's a bad thing if i'm looking at financials and i realize that this company of a management service line and the company that

is giving the management service is owned by the the founder of the company yes worries that issue if you have a problem with it raise that issue but the truth is your whole profits yeah i want to keep the founder happy yeah i want i want yeah i want to keep the phone happy yeah yeah and they they brought it to the point where it was so good that i spent my hard-earned money on it if i don't have an issue with the numbers and it's working fine if i have an issue the numbers talk that happened with pulse yeah that happened with pulse and um and the management line and the chairman the chairman chairman dropped his management line yeah and what did he do increase his dividend i agree and guess what when you increase the dividend

everybody get more somewhere yeah wow and that's before they make this 100 percent profit yeah yeah oh lord this fake profit fake profit oh gosh it's not real profit because the asset that they had went up everybody that's not real yeah they make money from real estate anyone we're talking forever sir bam give us a time check it feels like we've been talking for like three hours yeah holy shite all right um we've been talking forever i feel like but i think you get a lot of good value out of this i hope people like it a little bit stuff like this more let us know if you like we don't usually do episodes like this even if you guys might never hear this if you're hearing this i hope you like it um i like this i feel like it's a good flow yeah i yeah man we should get a talk some more yeah I've been asking

you're the man under pressure man well yeah I hope you guys like it I always try to wrap it up with something nice I don't know when we'll drop this

I won't do you know what I won't do since we don't know when we'll drop this I won't do what you like in the market right now but what I'll do instead

is this we have to pick something to hold for the next we've done something like this before two years because I'm sure we're gonna drop this i know yeah yeah yeah stretches it's so easy though this is actually running pressure in me yeah no but it's so easy so you know let me make it hard for you you haven't met more than 50 over the next two years each year you know actually i have to look at after we run through all the stocks and everything I have to go

I'll go first so that will screw you up if I had to make 50% over the next two years each year so every year I have to go 50% after fees

I'd buy I would buy we're recording this the end of October 2019 I would buy select F at $1.19 yeah I'm cheating.

Yeah, yeah, yeah. Yeah, because that's almost inevitable. Hmm. That's a gamble, actually. No, that's not a gamble. What about next two years? Yeah, no.

That's not a gamble. That's not a gamble. So that reservation will hold you back? It will, but Select F is going to start more and more moving on sentiment. That is my gamble. It's going to start more and more moving on sentiment.

Let's talk about this. The NAV-based stocks, listed equity funds versus actual ETFs. The NAV is this, ETF price is this. Yes. Underlying asset is X yeah and liquid X is fund

but I feel this way so I'm sorry so I'm going to trade up more than it or below or above so there's more room for there is sentiment

in the actual pricing of it of a listed equity fund yeah but nobody nobody not going to we're not we're nowhere near the level of maturity

for that yet if people still afraid of shorting in Jamaica they're still near the maturity of that because you have a you have somebody for actively yeah definitely yeah that'd be a more mature market more mature market pricing all information yes price more and more information yeah yeah so future information is a heavy part of things which is like the u.s so i see all the time a company come and because of people expecting a certain profit a certain amount of profits coming from them like that the fake meat

company beyond me yes yeah yeah sentiment through children because you say hey so much things are happening for this company and actually making deals it did not come on the books yet and we think there's more than those these to come on the books yeah and we understand that we understand that at some point in the far future we might have to cut our meat consumption and a company that can make us eat something thinking that it's meat and it's not meat is a natural fit they'll be thinking long term that's an end there's a whole lot of excitement there's media noise around it there's people jumping in because there's media noise around it and we want to grab a rise yeah everybody eats micro markets yep vegetarian market yep and then on the flip side you have someone who looks at it

and go all right guys that's great that's running on hype and the high bone lasts yeah so guess what that's why you need to have shorting because those guys go i'm going to short this wonderful thing yeah i'm writing good the people who the people who started we work are eating no but people who shorted WeWork are eating. No, but people who short WeWork short it in an off-market kind of way. If you think about it. Yeah, it's a funny. It's such a funny thing. If I were to tweet that, I consider a lot of what happened with WeWork to be off-market shorting. It'd be weird because the founder soft back then buy it back for eight billion.

But there's a point where it's shares. back for eight billion but there's a point where it's shares remember a lot of these shares that they trade on a secondary lesson non-public market before time people borrow against it as assets man buy out the whole thing essentially for eight billion and a song for something that was going to list for 47 billion two months ago right that that is there is and then everybody's like oh it's so crazy. Let me tell you something I learned about foreign. If you sit on the news,

rule of thumb, if you sit on the news, you don't have to worry about it. Yeah. The real things that are bad, you don't sit on the news. So, you tweet that?

We work. And I said, I feel, tongue in cheek, I feel like somebody's benefiting here. Wow. Something was, when it was being was when it was being when it was being valid at 47 billion supposedly a couple months ago yeah somebody was benefiting there

and and somebody else benefit right now where they buy it out for eight bill and and they're going to they're going to get thinking we can't do this work this company no no no no no no no yeah we go get this money yeah there was a lot of rubbish and powwow and rubbish in there but it wasn't all powwow yeah we were does exist it's a company does have revenue right yeah i thought space to grow it has a lot of space to grow and a lot of the bad part has been kicked out yeah and a lot of companies can do wonderful things when the when the bad part has been kicked off saying off some of the small companies that own our piece yeah that's how great things are made it was paid for this thing

outright and we were selling off this and making some money still boom there's all kinds of things that can happen I love that

so I'd buy select F if I had to buy over the next two years 50% two years and 50% the next two years so it'd be it'd be select F

and I don't know I feel cheap saying NCB and NC, it might not be NCB. We've got a 50, 50 in two years. Big for NCB. Yeah. That's a big jump. You're requiring news for NCB to jump.

I don't know what the guardian, the guardian money going to hit. I can see NCB jumping once in the 50 year because the guardian money hit, you know, all markets say them stubborn. It hit again for a second quarter. Worse if there's a, if they take a hit to profits which they might because they have to rationalize some operations right that could happen maybe maybe not and seeing them doing

things like selling off the insurance arm ncb insurance here you know that might have been linked to licensing or whatever seeing them doing things like selling that off oftentimes tell me that that's done in a quarter in order to cushion an expense somewhere else so it's a big influx of a straight up gain from to cover a hit that you might take for rationalizing something else somewhere else and they have to rationalize an entire region all right it's not a joke thing as much as i said we read patrick i read patrick hilton he's no longer ncb ceo yeah he's no ncb global financial yeah ceo yeah definitely has input yeah big up him can you hear me know him on the jet yeah yeah it's a different different very different type of

not very different it's a different type of input so i don't know if i got ncb for the two not that i don't think they can because what could happen is that i'm getting big news and then i'm giving another 100 percent in in the second year right and i still win right because i want to ncb in the second year right and i still win right because i won ncb if i took off 50 for two years and i got something junior market junior market 52 years mg paper and packaging that's a gambling yeah a heavy gamble because them the man still don't seem to know that plastic plastic ban is on i i don't hear them they're saying nothing about paper straw but the man in the middle come and launch a good paper straw launch a wax wrap paper straw thing make it official you're a listed company if you don't

have the money for it drop a bond people pay you the money for the bond start the wax wrap paper your paper straws i love the environment i love the fact that you know it's been a long time i don't want to sound premature when last you see plastic bags as garbage on the road oh know it's been a long time i don't want to sound premature when last you see plastic bags that's garbage on the road oh yeah it's been a while you know i'm not saying that things fix i'm not saying at all that things fix but just just in terms of day-to-day it's a commodity like it's the whole thing to get a plastic yeah man that's cold right now i know a lady that's collecting them i know some i got a shopping country and then give me a plastic bag I'm a look on them and I'm saying about a telling nobody yeah yeah keep it low shop that so do you have to buy anything there and a lady takes them from me every day every single day let me tell

you something as good as you might think as I don't think we're there yet but I think there's some reduction I mean it must be just common sense right because it means as if there's less plastic things that there's more paper things going on there not that things aren't being dumped still but paper disintegrates a lot quicker obviously but wait till everybody plastic bags stash under them sink done we're going one almost one year into the ban now yeah yeah everybody running the people still have it running low you know the plastic bag under the sink running low it's possible they use it until they put garbage in it yeah well that's why i use it the most that's what i use it for yeah garbage yeah but that's crappy imagine that because i mean

that we always threw it away we just threw other things away and i thought we were doing good and we're going to reach a point where we don't have it anymore yeah i tell you this i'm foreign and i go into a store and i do something yeah i a plastic bag and it felt weird i said they've given the thing and i'm taking it to my hand to walk up because i'm so used to walking out of places right and they give me a bag and i was like oh yeah oh yeah you guys sell a plastic you're so backward oh no all right so my pick um not well people want to eat and say i never say because i still don't pick something else i won't pick something from the junior market i should probably look at the junior market while I say that.

But something from the junior market that I think will grow 50% in year one at a minimum and 50% in year two at a minimum. 50% per year?

Cheat. Is that what you're saying? Yeah. Or you can go cumulative if you want. No, I thought we were fully going 50% over two years.

If you want to, over two years. All right. The minimum is that in year one, it has to grow at least 50 year one and then in year two it has to give me at least 50 more percent but if you want if you want to go harder you can go say it don't give me that in year one but in year two you make it up yeah so let me tell you so if it starts with a hundred for the people who don't want to do math Just like me I make Excel do it

I wasn't choosing anything there I'm not doing my company But I'm going to be lazy No but you have to pick two You get the signals Yeah That's cheating dog I talk about it so much now

Yeah Yeah It was alright Because I did say select it Alright So signals 50% Yeah Because signals are undervalued already

Unless The Excel says otherwise But my Excel Cause the signal is undervalued already. Unless the Excel says otherwise, but my Excel says signal is undervalued. Hey, I think the moon says the same thing. I don't know the share

price. I'm showing me that though. All right. So you mean that if you had a hundred dollars this year, next year,

you need to have a hundred and fifty dollars. And the year after that, you need to have 225 dollars. Like that guys.

And so you get more than 200% in a year, even though you only got 50, 50. Now think about if you can do 50% in two quarters in one year right and i'll tell you that you can't make money anyway 150 in year one 225 in year two that's how much your money would be at so it'd be about 100 and 125 percent overall are you still sticking you're still

sticking with signals um no it No, I get tired of that at this point. 50% over two years of Cygnus, that's not hard. Over two years? That's what I thought we were going with. No, but it don't matter if you want to do it that way. Or 50%? No, no, no. It's going to be more than 50%. No, no. That's why I said I'm making it harder.

I can't say it's going to be more than 50% over two years, but I can't say 50% year one. I can, but it will be harder for harder for them than just because regular business for them can give them a 50 percent in two years time easy um i was also going to say epley because of the money that's coming in from the caribbean valley property fund so you think hold on. First, it says Cygnus, right? As of today, Cygnus is at $21.32.

It's at $21.32. So that means that you think that in two years, you can see Cygnus at $47.97. Again, I said Cygnus was before when I thought it was 50% in over two years. I can see signals at 47.97 again I said signals was before when I thought it was 50% in two years over two years

I can see signals at 47.97 but they need something magical to happen they need some deployment oh by the way

I'm looking at the signals had a clause in their prospectus that said that in year five they start in stock buybacks

oh yeah I hope people remember that in a couple of years yeah almost mandatory like they say that they're going to offer start in year five five they start doing stock buybacks oh yeah i hope people remember that yeah yeah man almost mandatory like they say that they're going to offer offer starting year five year five yeah look at thing there um i was going to say epley because caribbean property value fund but

the oh you think epley can do itends what they do with the property fund because they want a thing there. They, they, hmm. I mean,

business has been up for them and then that management fee line is going to increase because of the more, the billions they took in for the property fund. Ah,

because it's linked to, it's linked to assets? Assets, yeah. So, anything that was famous yeah they get a percentage yeah remember years ago if you're in a group at the time i told people that has been happily because i said it's a rich boys club and it's our opportunity to own chairs

and rich boys club and this was when the epic share price was way higher like three thousand or something like that yeah yeah but that's that. But those guys decided that if this is the value, this is the value. There's no reason for us to drop the value, and I respect that sort of thing. Yeah, so you say Cygnus, I'm still pinning it on you, are you sticking with Epli?

The Epli right now is $14.94. I can actually see it. $14.94? Two years' time. $14.94 in two years' time. $14.94 in two years' time is $33.61. It's raining back a bit. I don't know. It actually feels like a lot.

It's funny. It's two years. We're making those games in a year, and I feel like this is hard. But it feels hard just looking at the campaign and saying, two years' time, we're going to do that. It's easy. Think about it. General accident.

Ooh, that's my junior market. That's my junior market. General accident, definitely. Yeah, I was going to say, what's your junior market? General accident is now at $8.03. So you guys can hold this to me

and tell me if in 2019, 2021, if general accident is $18 and 6 cents or more, then it looked like I knew what I was talking about. GNAC. That's my two. Give me one more than I let me wrap it. Cause I know people tired of us now.

All right. All right. All right. Hmm. Yeah. I know it's pressure and it's hard to fret. Oh, you could go easy. QWI, there's no way.

I want to say Jante, but I want to say QWI too. Well, that's two because I said two. It's not really easy because you're saying right now at the end of a flattening when people think the market is down and QWI is in the midst of an IPO crisis because they're, what QWI in today? At QWI as of today is at $1.

What? What are you doing? So QWI today is $1.24 and I think the NAV today is $1.34 or $1.35. Yeah, and it's $1.35 against the increased share base. And this other day it was $1.2 something against the increased share base. They just made some it was one three one two something yeah against the increased service they just made some money yeah they just made some significant money those guys seem to know what they're talking about yeah yeah yeah yeah yeah yeah yeah you guys keep

saying actually avoiding qw i jmb and all those things no take it take it easy computer that's true you can grab qw and um scotia scotia scotia the nice one i think jmb actually pulled through on a lot of what they're doing what they want to do with by default by default and the static word player right now you can't even say prove them i don't know if i'd go so brave i can't even say prove them because you know everybody hypes up the fact that JM&B is going to own 22% of Sajikor Financial. Said it on Kalila's program, I said,

here's the deal. Proven is going to own 5% of Sajikor Financial Corporation. And that's big money to them. Yeah. Is that a lick up? Well, that's a lick up. Lick up in your coat, Proven.

It's going to own 5% of Sajikor Financial. I'm dragging some of that money. Yeah, man. I hope they put somebody on the board, too. That'd be great. Yeah, that'd be little, little in-ear court, Proven. It's going to own 5% of Sajikor Financial. I'm dragging some of that money. Yeah, man. I hope they put somebody on the board, too. That'd be great. Yeah, that'd be great.

Yeah, man. Trailway on the board. So two people from JMNB, one person from Proven. Anything we say, go. Or something like that. Yeah. Well, think about it

because Proven also owns 22%. It's by virtue of owning 22% of JMNB. Yeah. So anything we say go and plus I'm on your board your board too so we done

we agree at our meeting what we're doing and we'll fly out to Canada and tell them what we're doing in the Caribbean region where we run things I guess we know the Caribbean more than you can

matter of fact we might not even fly out to Canada I don't know what but yeah big up them too and I like that so officially your picks are if you're doing the two year challenge

since we don't know when we're dropping this signals applicable sure hold it that alright the people got to hold it what did I say I like that. So officially your picks are, if you're doing the two-year challenge, since we don't want to drop in this. Signals, QWI, sure. Hold it, that. All right.

The people got to hold it. What did I say? I said, SSF. SSF. Select F. And, and,

and, what did I, and QWI. Yeah. I said QWI, and my regret is QWI, and I wasn't QWI. AMG maybe?

AMG, you said AMG. General Accident is what I said. General Accident. G-WI and it wasn't QWI AMG maybe? AMG you said AMG General Accident is what I said General Accident GNAC is what it is I can't throw it out

I don't think Jamteak on steroids I think some interesting things can happen Yeah I think it's interesting things Yeah We spoke about it

last podcast on JMMB We spoke about how they're hosing the QWI money QWI money mm-hmm could I money again yeah and the supermarket coin back on Google market that they didn't explain that or bring back on that bring back to me I'm with that very very interesting scene

that's going to happen today yeah yeah yeah yeah you know tell me short shot in the dark with 138 student living mmm two years in two years that one sort of two years over two years yeah man that's sort of a long time and right now as of today they're at two dollars and ninety cents so i think that's i think that's enough wandering meandering with a wild conversation and we wrap it up with a whole heap of value i hope people like that definitely we try to answer the tweets asking for topics that you guys want to hear us talk on Yeah we'll talk about it over We brought some of them

So over the time We'll be addressing them So if you want to add to that tweet Add responses over time Go ahead Yeah man Tell us what you want here We're always interested in the market

Yeah definitely I want to hear your views So we can add to ours And inform you on our views And what we get out of what you guys are doing There we go Let me see A rising tide

Lifts all boats Oh no say a rising tide lifts all boats. Oh, no one said rising tide. Big up, guys. This is Earnings Season. I'm at RTR, Randy Rowe. And I'm H. Danai, Danai Hall. Thank you. This has been Earnings Season.

See you guys. Big up.