Earnings Season - 22 - The Year in Gains (2019 Stock Market Review)

Episode Date: January 8, 2020

This week, Randy and Danhai review 2019, quarter by quarter. They tell their favorite moves in each quarter, the lessons learned, different investing strategies used for different levels of money ("No Tanto Tactics with Buffett Money"), IPO buying strategies, things to look out for and a bunch of how-tos (how to use a margin, how to get a Mayberry account, how to buy anything using stocks, which broker does what best, etc.) They also talk about specific stock buys giving times, amounts and dates, them touching hot stocks too like $FTNA.ja and getting hit with surprise problems after buying in (like with $SALF.ja or $138SL.ja). A guest also drops in (@thelaymansdr) and talks for a moment, @RTRowe fumbles "Cash & Cash Equivalents" but @HDanhai catches him before he spreads misinformation...phew. They of course wrap up with what they're excited about in 2020, including new strategies, and a wished for listing. Gems on Gems on Gems... Listen, Enjoy & Subscribe Reference Links Frank Lloyd Wright - http://bit.ly/2QWsUS5 Fallingwater - http://bit.ly/2N5OzWS Cash & Cash Equivalents - http://bit.ly/35ChmbW The GRWR Gift Card - http://bit.ly/39z6Sxd Contact: [e-mail] Follow us on Twitter here: www.twitter.com/Earnings_Season www.twitter.com/RTRowe www.twitter.com/HDanhai www.twitter.com/EveryMickle Shout -Outs @calltyrone_w, @5Solae, @laymansdr, @kalilahrey, @johnhjack, Kerry from @JMMB & @MartinPagon ★ Support this podcast ★

Hi guys, welcome to Earnings Season. I am at RT Rowe, Randy Rowe. And I am at Easter Night, Danae Hall. There we go, and this is Earnings Season, the show you know and love. This week, Danae and I are talking about 2019, the year that was. What a great year it was. As you hear him talking happy, you know it is the year that Danae figured out year it was yeah here as you hear him talking happy you know it is the year that then i figured out that a paycheck wasn't the only way although big up to the people that give you a paycheck yeah i'm right yeah big up yeah always big up you know what i

don't want to say any name i want to be the big up mayberry i didn't want to be the first because i didn't know how the space is but i guess guess, so this episode, guys, we'll be talking very personally about all sorts of crap. Of course, the market, feelings, everything, blah, blah, blah, but how we see it. I guess that's one point. So that little stutter there, I guess we won't be editing it out

because that little stutter there was me going, one thing, so I have this show, show launches here, yay, great, Air Force. And one of the very first things I worried about was sponsorship.

If I ever chose to take on sponsorship, you know how it goes in Jamaica. If you're... If you're... Exclusivity. Competition, yeah. Yeah, generally people don't like competing much, or at all, in Jamaica. We're very one and done in Jamaica, meaning from one person start doing a party company,

anybody else do a second party company, I'm following, I don't believe in that. But also our corporate bodies have been very, in the past have been very, I want to say exclusive, I'm trying to find a nice way to say exclusive, but with the Jamaicans,

which I'm pretty much just saying that, yo, you work for Digicel, you can't work for Lime. Of course, we saw that breakdown because of the people of the two, where you don't addicel, you can't work for Lime. Of course, we saw that breakdown because of the people that are the two. You don't add for one, you can't add for that. And I understand certain exclusivities and I wonder about the show

because I deliberately did not want the show to be aligned to any one person. So even just now, I stopped not saying Mayberry because I was like, I don't want the first big up to be Mayberry because people think, you know people think that one, I work at Mayberry or two, I have something to do with Mayberry

or something, other than being an occasional shareholder of maybe yeah i don't have i don't really have much other links to them yeah i'm a client and i'm a shareholder i guess because it talks about talks so well highly of them yeah that's true it's funny because i was speaking like this about me right before i went there so um i had a friend uh big up leo le Up Leo, he was the equity trader at the time at VM when I was there. And when I told him that I was going to Mayberry, he said, oh yeah man, because I should have seen that one coming because the way you speak about them, I know you like how they do business. So from that time, a guy I speak about with,

I speak about stock market and equity a lot with, he was saying, I see you at Mayberry because of how highly you speak of them. So it's not that I work at Mayberry. I've been speaking about Mayberry like that from before I've been at Mayberry. Yeah.

So moving there, it kind of makes sense. You like how they work from outside so you go in there it just makes sense yeah i i'm with i will be on that funny enough i've been talking about them well before i had an account with them before i could afford to have an account with them definitely for me yeah it's it class is class you can't you can't you can't hate on it you can't i mean when people are on top they're on top everybody else get overshadow so funny enough um when i just got there i was just shy of open as an account opening numbers for me so that top million for the people listening i don't know to open a mayberry account

generally you need a million jamaican dollars to qualify so i was just shy of it so i got in because guess what i worked there so employees at mayberry get to open an account without them without minimum requirement so i got i got in not because i had a million dollars but because i worked there so i never had an account but i was speaking highly of their product because you know you hear about it all the time the margin product mayberry his margin is top class yeah so he allows you a lot of things so yeah yeah a lot of freedom in using your money i know that it's the best margin facility in my opinion uh i have to agree with you on that of course people

want us to explain that i don't know maybe i have another episode where we talk about margins but in general you guys can look that one up guys what the margin is and we think mayberry zone is the best um i'm throwing some tidbits as i start gems this was the year that we started the gems road gems business it's funny we have a friend who because of how well she puts together her research and her points yeah she's so good yeah and and look how it just continued to work to the podcast yeah to the podcast um so first gem i'll throw in there which is like a deliberate gem um is circumvent i don't know if i should say that you know i feel weary about that sometimes but it's the truth so i want people to get it talking about how to get the mayberry account before you have the million but i've

said it i've tweeted it i've written about it any company any brokerage house that is the lead broker for an ipo so you guys said those things i'm sure i've said this on a podcast before but i'll say it again because sometimes people dm me i ask me anyway um any company that is having a that's a lead broker for an ipo if you apply for the ipo but do not put in any other brokerage account information that lead broker has to open an account at the brokerage house for you you know what's right i don't see i didn't see that way before i did but for mayberry specifically for that they're not really you know they're not accepting of it because the account minimum is waived. You can just go and open an account and you open an account for the IPO. You mean generally?

Yeah. Oh, you mean during an IPO time? During an IPO maybe it allows you to open an account with them. When I went there it never felt like… Oh, you were circumventing anything. Yeah, it does. We waive the million, you come, open an account. So we want to get as many people inside the IPO as possible. So waive it and you're good. Yeah. And you see that's another reason why I have to rate them

because they are, they adapt to the market. Because when I did it, it wasn't just waived, you know? Oh, it does. Yeah. In my day it was very much, sorry, you need a million dollars, I have a million dollars. But I read the prospectus and I know that you guys have to give me a brokerage account if i don't specify one and i don't have to specify one because our prospectuses are always overall public and lots of people don't have accounts so it's a great way to get one yeah um

yeah yeah so they're learning marketing adopted that's good that's good that's good business yeah any company that can adapt is is a company that is definitely, definitely, definitely on top. Yeah. And so I rate them for that. So yeah, that's your first tip, guys. If you ever want to get

a Mayberry account and we think that's one of the best, you know, you call them the best brokerage hosts. I deliberately didn't turn this into like an award ceremony.

I could turn this into an award ceremony. If it was, I'd call them, I'd edge them off. I'd call them the best brokerage hosts in Jamaica.

Yeah. Yeah. I would, but i'm biased i am biased well you know i shouldn't say i'm biased i'm not biased because i don't have any you know it's not really yeah but i should say i'm not being empirical because i have not used every single brokerage house in it yes yeah i've never used gk cap see him but i know the vp at gk cap one of the VPs at GK Cap is a star, right? Yeah, big up. Big up, man. Like, five solely. Five solely.

Mandatory. Who gave us an amazing episode this year, too. Yes, definitely. Yeah, a few amazing episodes. Yeah, man. Every time Randall's on, he's about to bother you every time. Every single time,

which is why he's good at doing. Yeah. I'm sure his clients know that. Yeah, I'm sure. I am sure his clients know that he delivers volleyball I'm sure. I am sure his clients know that he delivers valet boy. Yeah. He spoke a bit,

he spoke a bit, can't speak well that English there. Yeah. That's a math student guys. That's a Rome episode. Yeah. He,

he spoke a bit candidly about what he does for his clients and how well he does for them. So people who listened to that last episode, they're really honest and Ryan's clients know that Ryan is a delivery val but yeah yeah and i don't know so that episode got

a whole heap of editing edited a whole heap of chopping of almost roughly two hours yeah sir bam we got bam production studios um about how much we chopped out of that episode it closed at around four and a half hours it closed at around four and a half hours wow so yeah almost two hours of content chopped out because we just had to that room one of the things that we did chop out was that we needed me saying yo we need a room sponsor um so big up anybody who wants a link because not just for room sponsorship but we're regular human beings so right now i'm drinking coffee um then i is drinking water and and bam is drinking soda so feel free to reach out we're touching the market from all angles there we go feel free to

reach out earnings at every michael.com funny story about that rome sponsor my introduction to the market had a lot to do with r. Yes. So anybody listening, the group you hear us speak about sometimes. The group you hear Danai speak about all the time. Who's the person that you need to link if you want to be in that group? Yeah. So one of the rules to being in the group is whenever we have a drink up,

you make sure you bring the equal age to rum. And before that, I was... I wouldn't call myself a rum drinker or a heavy rum guy or whatever you want to call it, heavy drinker. So when I... Alcoholic is a term. Alcoholic, yes. So when they said legal aged liquor, I was like, what are they talking about? Yeah. When I talk legal age, you know? Legal is a legal age.

So I search in legal age, legal online. Oh my God, you put that in your Google? Yeah. And it tells me that scotch has to be a certain process for it to be called scotch

and all that stuff. Oh, that's what I'm talking about. Then I found out, no, legal, like over 18 years. Literally.

Adult. Which is a good, which is a good, like a microcosm of the market, right? Oftentimes it sounds so complicated, so you gotta do a whole heap of research because you think it's deep. But no, it's exactly what we're saying. It's just legal. It just means we just want 18 year old scotch. That's it. Or older. So, I remember going to Pricemart and the first, me, Alex, and Chad were joining. Me and Chad were joining at the same time. And we're big wondering how we're doing this now, whatever.

Whatever, we're going to Pricemart and we found some, I put on 21 here. That's the first time I had that one. So I go to the link, I put on 21 here, pick up the beetroot, you may even drink that. That's good. Well, that's a good introduction to rum your jamaicans don't know what we have in that you know oh yeah man so yeah it's actually objectively better than any other rum younger than it wow thank you for ensuring that no our sponsorship rum options are now just one i'm not going to lie with you i love the apple ton but i also i'm always like that i

mean like if you're drinking regular rum versus regular rum versus five year rum five year will be better then 12 years better than that and then the 20 oh yeah the older the rum older the rum it just it actually tastes better before when i drink regular rum i when i before i got like a seasoned palate i pick up put in rum if you're not mixed then boy it's just a burning sensation I wasn't tasting anything it was I could have done in this so I can get the buzz uh you're drinking for drinking sake drinking for drinking sake I feel this way in this party okay and then no actually no oh that liquor has a taste and that was my introduction to liquor having a taste. Yeah and it only gets deeper from here. That's like that's a Jamaican rum calendar. You start from liquor, you start from mommy or daddy making you taste a bit when you're much too young for it

to being old and thinking oh liquor tastes bad. Yeah. So going through enough of life troubles to go let me have some of that taste bad liquor. I don't want that one. And then of course going into okay let me see what these guys hyping over quite don't make sense right and then realizing that yeah there is flavor yeah and bring it back to the market it's the same exact thing that a lot of people are going to see so it's hype a lot of noise oh let me do this thing all right hard i can't do it my hate mats and then oh i'm making some money yeah let me Yeah, let me see what's actually going on here. And then you get into it and before you know it,

your taste develops and you start being more mature about how you... You're picking in your specific way, you know what you like in companies, know how you make money based here. Exactly. So it's not just because everybody drinking... I don't want to call it... So everybody drinking hard liquor, but you like beer? Stick with the beer if it works for you.

Yeah, man, because maybe that's what works best for you. Maybe you are like, yo, I have like a stomach problem, so I can't bother with no creams or anything like that, so I might just drink some white rum and water. And somebody's like, white rum and water? Yeah, I got it. But you're like, yo, you're not the one drinking it. I am.

I'm doing it for my life. It's literally just like investing. That's my coach knowing the white rum and water. Oh yeah oh god the man jumped all the way to the end the water my water is the truth it is the truth water water is the truth yeah sometimes sometimes big up big up with cinco sometimes i have a little bit of white roman schweps a little bit of white rum and Schweppes. And hi guys, welcome to the liquor podcast. Jamaican drink champs. But yeah, sometimes I like a little bit of white rum.

I like, I like, I call it soda water cause I'm old. Bitters, I like bitters in my drinks. So I'll have soda water, white rum, a little bit of bitters squeeze a lime i'm good all night i don't need to drink heavily i used to drink a lot happier when i was younger and that was dumb which is why all my old pictures have me looking really fat i don't want to start doing that i started being a little bit healthier taking care of myself yeah come on but you can still drink and funny enough your money lasts longer because you don't drink as much and you you get

you get um yeah socially so yeah i plan to keep it that way ah that works yo again everybody on their own journey exactly yeah so that was a little podcast guys thank you for listening and let me bring back to the market so this year we're doing a nice review of 2019 q1 q1 q1 q1 q1 highlights for you highlights so at that time my money wasn't so I that Q1 was what put me

into a good amount of money strong I like that term yeah man so I was started the year with

I was coming out of okay so first year let me give you a little bit of history of my investing this is my third year actually investing. I started in February 2017.

We staked, but pulled together. So all my money together made me 127%. Word. Yeah. So I'm glad I started how I started. I had a bad start. Lose money, but it was a small amount of money. So eventually, penny pinching, saving out a lot of money, putting it in the market, see where a good opportunity was, and I put a bad start. Lose money, but it was a small amount of money. So eventually, I picked penny pinching,

saving out a lot of money, put in the market, see where a good opportunity was, and I put the money there and returned me a good amount for the year. So 127%. Next year,

we're making a lot of money off because I think we went into 2018 with the whole Mayberry news about Mayberry MGE and we rinsed that a couple times. 2018 or 2019? 2018, man. 2018 had us.

With Mayberry. Oh, yeah, yeah. No, I'm with you. I just, okay, you're giving context. Go, go. So 2018, we had the Mayberry MJE. We made money on Mayberry, then we made money on MIL,

then we made money on MJE, then we made money on MIL all over again. Money on MJ, yeah, yeah, yeah. That's why those guys like it. Yeah, man. And coming out of that that my returns were high like in the three digits triple digits and then i switched jobs got a much larger paycheck and i started putting that paycheck into the market and my triple digit returns on my money

it just started looking different so you put new money into the mark in the account so your actual returns on the total money you put in drop drop yeah the percentage stopped looking as nice money putting in as i always there so i end that year with 69 percent tells me most of my money was made at the bulk of the year most of my returns were made at the start of the year got the job halfway through the year so i'm the last part of the year i wasn't making as much i did make good money then but pull me down to 69% because I put so much. So end of the year, 69%. So I was like, yo, I made good money, but I need to actually make good money this coming year.

Then we hit up on Carribs Cement. Yeah, we were in the red. So Carribs Cement had a rough time before that because of the they're paying billion about a billion dollars plus to their because of the lease the kiln the kiln five they're releasing the kiln from their owners tt yes yeah man so they're releasing the kiln and they had a restructuring of it during 2018 where they said, all right, we buy the kiln, we're going to finance it. They're going to get some financing deal with the owners and sort it out and pay off some preference shares.

So most of the money that was coming to them was being pushed towards financing and paying off the preference shares. So we had looked at that. We said, all right, so carry cement. They fixed the kiln, So we were, so we had looked at that and we said, all right, so, character man, they fixed the kiln, but we know that even though, I think the price had gone up,

people were really happy about the kiln, but we had spoken about it and we were saying, even though the kiln had gone in and all that, they still have to go pay for it. So,

no more real money because it's not meant to be there. Exactly. But then we started seeing other stuff where they started pulling more revenue. Revenue shot up that year. As the construction boom got going.

Yeah. And it's funny because we had a lot of talks about, so the analysts were putting out a lot of talks on, oh the construction boom up. And they were like, the construction boom is more revenue going up, but the expenses are going up with it. So they still have to be paying off too much. And then they started doing, I don't know if you're not there yet the manpower yeah the manpower restructuring so that's how that was but then we started seeing where they started they started looking towards fixing fixing up their expenses so with revenue go expenses go up so we know the real value is okay so the construction boom is happening on top of this boom so more revenue coming in is not going

to happen just off what they have now they i have to expand and get more storage or more producing more or they fix the expenses until the bottom line and we started seeing that where they they went off and they got the they restructured a part of that restructured a part of the financing into jamaica and i was gonna be taking heavy hits on the F exchange. They were doing, they had an efficiency push where they started selling the actual cement in an easier way for them to actually not lose money during the selling. And that was part of the manpower restructuring that came into it. I think so. I think so. And it worked so well that they actually, the local market was pulling so much that they stopped exporting.

Pulling so much, much that they stopped exporting. It's funny because soon go on that for carry cement but yeah they had a lot of money coming to the bottom line and they were like hey it's time and we push a lot of money into carry cement. I remember even one morning when the results came out on the site but it wasn't on JC as yet and we were fighting in the market that morning because we were trying to get the shares. Oh yes. Because the price was rising. We had more money left when we fight.

And somebody just kept beating us on the shares over and over. One of them small guys. And the price was fine. We had a lot of money in there already. Yeah. But you know your fee. You have some money on that counter and you say you want. I really want this to go in and do something.

And it wasn't working i was frustrated but i was frustrated on one side because boy this money not moving but on the other side i was making a lot of money yeah and a lesson in that same time that i learned was just the value of money it's some funny to say i keep i keep learning that lesson i hope i keep learning it until the day i die. But it's money sitting though nice. Yeah, man. It don't make sense. Bank account, fat bank account is money sitting wasting. Yeah.

Yeah. Now I live very lean because any dollar that's just sitting there not doing anything is being wasted. You have to go work. Yeah, exactly. And then that's when I started falling in love with the lower percentages. Knowing when to pay attention to my percentage gain versus when to pay attention to my dollar gain yeah i remember we were speaking but we have shared something and there's something that a lot of people within the space like to say cash is a position is used as a way to say okay so you have money in cash most of the portfolio is losing but that position is not losing right

but for me it's also a reminder of this money sitting here is doing nothing so when i have x amount on my account and say one day i have money in carry cement and carry cement is moving then the money i don't i don't have in carry cement isn't moving it's not doing anything for me so cash is a position use it try to use it on both sides i hate the use of it as oh you're not losing money and that's why it's fine you're not getting anything out of it either so you're at the same place you were yesterday if you don't spend that money so but a nice looking bank balance and no point to my most comfortable point is when i look on my screen there's no money to spend and i have no more opportunities that i want to go into heavily right now that's comfort for me

i go in look at it check the market and then i can do something else because i know that x was planned already money is there and i'm good can i get shaky when something come out that day and like general need to be in that yeah then but then that's when margin started coming right that's definitely the most requested thing i get all the time how to invest in a margin that's a dms people ask me all the time how to invest with margins um and again it's weird so guys so the hardcore will do this all the time people process all the time if it's late yo where's the podcast big of you guys uh but they should know they especially know by now that um we don't always spell out that hey guys this is how you do x we say it but we don't tag it as

that yeah even the show notes sometimes i don't say it so i guess i can i can just straight up say it for this episode yeah that's one of the reasons why mayra's margin is so good that's one of the great advantages of Margin. You don't have to choose. You can get both. Choices are for poor people. I'm not repeating that. But it's true.

Choices are for poor people. You know, I've said that. You don't get rich doing things that poor people do. That's a fact. You get rich doing, you move forward. You think of rich man is doing this what's the best way for me to do right now you see that last part what's the best way for me to do it that's the thing that people don't get because you know so this was the year of buffett

in jamaica where everybody talked about what warren buffett said yeah and warren buffett is not wrong with many of the things that he says yeah a few people like if they know us then you know we talk about that guy if they actually know us and actually know we talk they know us, then they know we talk about that guy heavily. If they actually know us and actually know what we talk, they know that we know, we rate Buffett highly. But we rate the real Buffett, not the repeat what I'm saying Buffett. We rate the Buffett that say, don't listen to guys like me. Me, yeah. Which is funny because that's what we said too. Except for this, this is to us an earning season.

But yeah, this is the year of understanding that it's not that you shouldn't saw what Buffett says yeah if he's speaking at a level where he's talking about billions, billions of US dollars and how to best go into that and you have a million Jamaican then you're not talking about a million Jamaican would have bad enough so bad oh yeah definitely yeah man he's 50 grand guys exactly it don't make sense yeah 50 grand you can't follow buffett with 50 billion definitely buffett can buy something and say oh i'm holding this for 10 years of course you are yeah yeah you bought 80 of it of course you're gonna hold it for 10 years but you're not even

going to be alive 10 years and not wishing death on anybody. But I mean, it's Buffett. Of course, I'm going to buy it that way. You have big money, you're moving a certain way. You have small money, you can't move in the same way. This year, I told people, you can't have Tantablax money and acting like Buffett. And there are also people on the flip side

who have told you can't have Buffett level money and acting like time to black. If you have invested in millions, stop talking to me about every IPO and which IPO this and that. Stop doing the jumping around. Stop with the crap. Get into it for real. Get into it.

Act like you know. Act like you have big money and you're getting there. If your advisor not giving you big money advice, it's good. The hard thing to do the hard thing to do is um knowing your your middle level knowing your medium level for where your money is so there is a little funny thing that happens where you can't do the 100 grand tactics anymore but you also can't do the 10 mil tactics anymore you can't do the 10 mil 10 mil tactics anymore you have to know that like a middle ground if i applied for yourself we spell it out on the episode where we talk we spoke about jeeps

and i've had conversations since that one where people don't get that i gave them the formula there for how to buy almost anything it's not jeeps guys it's not jeeps yeah we have our conversations about jeeps otherwise it's not jeeps it's how to buy anything that you want it's literally if you have the money and this works at any level but people don't get it which is one of the reasons again ding ding ding while the rate mayberry you have the money you want to buy anything whatever the thing costs you have 50 grand let me carry to the 50 grand people let me carry to the 10 grand people you have 50 grand and you're at a broker that offers a nice margin so of course we talk about

mayberry all the time yeah and if you're listening now and your question is what i do have 50 grand and you said that mayberry is a million it means you didn't listen to the first five minutes of the podcast because we literally spelled it out um but if it's not mayberry and it's um it's not mayberry and it's instead burrito offers a nice margin i gather too yeah i, I hear, I'm not a client myself, but I know that I hear they offer a nice margin, yeah. So let's say you're at Barita, you have 50 grand and yo, your 50 grand is in NCB stocks, but this new IPO come out, I can sell some of my NCB and no, no, no, no, no, no, no, no, no.

First, you need to be sure what you're doing. You need to be sure of your goal. You need to know what it is that you're going for. Assume that all of those things are, all the ducks are in a row there. You decide on one. Let's say it was pre-mail pack. You only have $50,000 and it's in NCB shares.

And that's what you buy every month. Every month you put a little money into NCB shares. And mail pack coming out and you think it's going to be good. You want to sell your NCB shares. Absolutely not. Borrow against the NCB shares and put the money in mail pack. Yeah. Especially if the MailPack

is a shorter-term play for you. If it is, right? If it is, right? But even if it's a longer-term play. Well, finish your point and I'll say it about it. If it's a shorter-term play for you, you make your money on MailPack,

you leave, and you can put your money back on the NCB. You made money, so you pay back the margin and the excess is the profit you made. You put that on your NCB. You don't get more NCB for free. Simple. simple this year a lot of people are going to the threads explaining that and i'm going to be pissed because we've been saying it for two or three years yeah so that was

a nice short term play but let's say somebody's in there for the long term but they also don't they also want to get some of the mail but i'm also not really looking to sell anything right now longer term play which is also good. Two, you can have, one, you can have your cake and eat it. You need to sort out what you want, but that's perfectly fine. You then need to just know that you have to cover the cost of the margin. So let's say you have your 50 grand NCB.

I use Mayberry in this case, where they give a 40% margin on what you're holding. So you have 40% of the 50 grand. So that would be what? 20 grand? 20 grand. So you put 20 grand in MailPack. 20 grand in MailPack would have gotten you

20,000 shares? I don't remember. Or was it 2,000? I think it's 20. It's 20? So you would have gotten the minimum? Yes. I think Lombo was 2,000.

Lombo was 2,009%. MailPack was 24%. Yeah. Okay. So you'd have gotten your 20 thousand shares in mail pack boom you'd have gone up a hundred percent of borrowed money yeah so the money that you borrowed would have just doubled so if you're in it for the shot you can sell and you know have you can sell half and cover your margin plus whatever the margin fees which i think is one percent a month um so you would have made a hundred percent and it would have cost you 1%. So we're going with 99%.

And of course, I'm ignoring fees here, but let's, I'll ignore fees for simplicity. Every day, you make good money. So in other words, now, your NCB shares, which you did not sell, have now bought you mail pack shares with money that you did not have. So now your 50 grand is worth is now 70 grand and

he still don't owe nobody nothing yeah and he did it all in a month there's a gem for you and the margin can cover like money that's so you have money coming next week your paycheck your pay is coming next week ah and you have a buy now yes there's a margin and it's paid off with the paycheck money there we go if you want to go longer term like i said i give longer term tips is just work out what the cost of that one percent is and just pay it over time like a regular loan yeah in fact you can pay down the margin fully you can pay down a piece of the margin every month to the point where you own the shares fully without having a lien against them perfect yeah so third tip yo the gems going hard and fast. Third tip, you can go ultra. Let's say you really believed in it.

And for whatever reason you had 50 grand worth of mail pack before. And so pretend world here. So you have 50 grand worth of mail pack before you bought against it. You can get the 40% margin loan. So it'd be 20 grand. Put that in mail pack.

So now- We've done that before yeah don't tell the people our business but yeah literally that's it that's how you that's how you you act like buffett but at your level and that's with 50 grand jamaican and it also works with it works at the 50 grand level if you have to go hard because that's part of what i did to grow from my 10 grand level but it works like hell at the big level if you have big money if you have more than a million jamaican dollars you shouldn't be trying to do this ipo game honestly your life is stressful and i've said it before the real money it's not really made in the ipo thing and if you can

if you get all your money into an ipo then fine but if you want when the ipo stops and you say you have you have a share to double and you sit for three months and the money not doing anything for you until the next IPO you don't know the next IPO coming around because you know an IPO announcement isn't necessary

an IPO is tomorrow that's true it's just I bought them so they plant the IPO and I sit down and I tip my thumbs people have been asking

us our opinion on TransJamaica for about half a year yeah it's funny people telling me so they put all their money for TransJamaica

from June yeah like what what you have information I don't have but it's coming out tomorrow yeah People telling me, say them, put all their money for TransJamaica from June. Like, what? Say, oh, you have information I don't have, but it's coming out tomorrow. Yeah, why would you put it out from June? We know, I mean, you'd have seen half a year go by and your money just catches a position.

Catches a position. Catches a wasted position. That's how it is. Money only has one use. To be invested or to be spent. I like that. I interrupted you. Where were you in Q1 oh q1 q1 so q1 for me was the main highlight was carry cement i made a lot of money at that time i think that's when i started my tweets about oh i'm beating my thing there ma

your paycheck my paycheck yeah this year you made more money from investing than you did yeah paycheck yeah even after the race nice the raise. Nice. That sounds really good. That does sound really good. And that's something that I'm doable this year. This year when everybody discovered the stock market and decided that

it was, if you just discovered it, chances are you think it's like a lotto with better odds. And if you have been in it before or you're a professional within you work within the industry you think that it's um you think that anybody who's talking about it like

that or talking about making those aggressive gains that we make are um are playing lotto playing lotto yeah you think that we're playing lotto and we're new to it and you don't understand what's going to happen this is the year i wasted too much of my energy arguing with people on Twitter about things like that that I shouldn't have. That's one of the regrets I have this year. I gave too many people energy that they shouldn't have gotten it. And I'm making up for that by wiping my tears with my gains. It was the year of the IPO though. Q1 for me, I I mean yeah then I mentioned part of the play with Carb Cement that I know was pretty nice for me I made some money on that MJE did Mayberry have any big listings the start of the year Q1 not even just Mayberry what were the IPOs in Q1

IPOs in Q1 I know Wigton was Q2 I think Wicton was q2 and wicton obviously is like a major part yeah what happened there almost happens nowhere else uh but q1 was was nice for me i think q1 was when i started to say to myself that okay let me see how truly serious i can take this thing yeah because i realized that like i started looking back and going yo i've been doing it for a while i've been doing it well but let me start it was me telling myself there's a lot of things that people don't know i think people people think that fontana did come when did fontana come out i was in q1 i know i see the shares i was buying shares in q1 you're buying fontana in q1 but in time there was like oh three or four dollars three or four dollars yeah yeah it was a nice it was a nice thing then and it went all the way up to um for eight something i never i never had it for that ride uh

got in the ipo uh i put you wanted ipo yeah and i remember what happened with people got good allocations who didn't split it up you know yeah yeah people who split it up they got cut off see split up you have five accounts and you apply from all of them you put the money across the accounts and you apply one IPO with other all those accounts hoping to get the minimum plus the percentage per rater on all those accounts Fontana said we're only taking one account per person yes and Fontana to, I think I could be wrong, but I think they actually checked

everybody's TRN. Yeah. To me, I think that's the only way you can actually, because you can see the JCSE numbers, you can take all of them, but you can see whose TRN

is tied to each JCSE number. And you can simplify, yeah. Tip again for the people. It's another tip. A lot of people think that the strategy, it's so obvious now when you see it, because so many people fall along this line,

so you know that's how they get there. One of the first things people think is, oh wait, I get a low allocation. So here what am I do? My open multiple brokerage accounts. I know this because people DM me every day, asking me if you can have more than one brokerage account. Here's your question answered.

Yes, you can have as many brokerage accounts as bank accounts. That's the answer, right? So you can have as many brokerage accounts as bank accounts. That's the answer, right? So you can have one at every broker, you can have multiple at every broker. So the thing that people come up with is, yo, I'm going to apply from every broker so I can get a bigger base allocation.

That way I get it. And it sounds good, but that's a tanto tactic. Nothing wrong with tanto tactics at tanto level. Yeah, but if you're working with Buffet Money or a large, and it doesn't have to be Buffet Money, if you're working with my personal view, anything over 500,000 Jamaican, you shouldn't be doing that. That's my personal view. And you said there was a lot of hassle too. Yeah, a lot of hassle. You're going on to six, seven, eight, there are 12 brokers. You're

going on to 12 brokers to do it. And the people who did that for fontana it never got one they only got one and so i said that i took the health of your money exactly and you wasted all that energy and time so explanation that i started because i said gem to every brokerage account you can have as many as you want comes with a JCSD number so you need to have three at the same broker you have three different JCSD numbers yeah um and every JCSD number is linked to a tier in so all happened Fontana was that they just checked to see who had the same tier ends and they just they put all them together which you know if you pay attention to our tweets or they come together or they just not accept they the only the tools which ones to accept that's what they feel like to me well they did not combine them they exercise their right as they gave in the prospectus to treat it as one or to reject as

many as they wished yeah people are scrambling it's like they can do that them can not take it yes they can they can almost every i would say every ipo or every prospectus has that clause i have not seen i have not seen i have not seen i have not yeah yeah but they don't they choose that they pick and choose when to follow it which says to people if you're going into this ipo thing you need to know the rules you need to read the prospectus and you need to know that that's a possibility yeah i do not do that multiple broker thing that one application yeah the the multiple broker thing makes less sense especially at this level that's a good allocation and then I put I was buying it started falling to around three

dollars around there. Yeah. It was a lag. It was a four dollar stock. Yeah. Shut up and it started creeping around three. I was buying over and over and over at three. With the intention of selling when?

Selling at four and above. That's at least 25 percent. Ah look at that you're looking for 25 percent in what time? A couple couple weeks weeks yeah oh god short term that's what happened yeah 25 percent of money so yeah everything good yep and then that thing happened to move in from four plus to eight dollars sometime after i was not in it for that but i think that was pure speculation what do you think caused that? That was a lot of hype around what the new location will do for Fontana. I like to go a little bit deeper.

So Q2, jumping to Q2. You know, we talked about your Q1. My Q1 was good, but I don't remember it as clearly. Yes. I went on JTrader.

JTrader has a trailer. You can check your trades at whatever period of time. So I was waiting back to Saturday and checking my trades. Tell the people what that is while I look it up. J Trader. So J Trader in the trades screen you can check what trades you did at whatever time. So it saves all the trades and you can go back and say so I'm looking at it and I'm seeing trades from the 15th of January. So you know exactly what you were

looking at perfect so we're actually working with actuals here so i even made a little bit of money on amg with a small quantity i got some units yeah amg bounced around a little while yeah because it had good results for the first you know while we're not we're not dealing with the problems that were on the books before the tissue factory the tissue dropping yeah and so it was the first set of good results post tissue yeah yeah so that came out got some money and it came out before it fell so good on me and i think it's so you say you think it's on the rise ryan said that ryan did say that that's one of his long holds yeah i actually think i still have some amg you know as well a little disappointed that i didn't see them attacking as aggressively when the um plastic band because the plastic band started our Q1, yeah?

January 1, no more plastic bags. Remember the world was going to end? Oh my God. Every year, every quarter, our world is supposed to end from something else. Every time the dollar break, 138, our world is going to end. Every time something else gets banned, our world is going to end. I'll tell you this. I sometimes think I miss plastic bags but not really I'm actually pissed at retailers though

because they took opportunity they used to get plastic bags for free did they replace with paper bags no they didn't they have paper bags and everybody started selling it and as a customer I'm annoyed but if I think about the environment I'm actually happy because I mean because paper bags are still waste. Right? And you find out if you need it or not. Oftentimes, it's so funny. Oftentimes, I'll go to the supermarket,

I'll get stuff, and there's no bag there. And it turns out I can carry a lot of things in my arms. And I'm paying $30 for the bag. And it's so dumb of me to do that. But shit, I'm not doing it. I'm not doing it. I'm not paying $30.

It's so dumb of me, but that's good because it means i didn't spend 30 and i didn't throw that paper bag away because paper bag get true enough plastic bag used to get put under my sink paper bag get true enough yeah yeah shout out to the people that use paper bags as garbage bags which is i guess dual purpose so i'm not knocking it that's good and i'm not gonna lie bro the streets seem a little cleaner i know it's too early to say my mother mentioned it to me like she said she doesn't see people pass it back anymore about the place i don't really see the other garbage though so yeah he still says it's just not with plastic bags in there yeah yeah it's less it's less it's less in there. But it's less, yeah?

Yeah. It's less, it's less, it's less. Sorry guys, we're hearing a laugh in the background. We have a guest in studio who can't contain herself, apparently. Are you okay, ma'am? She also started investing this year. Oh yes, she did. And she's here.

She's here. You want to tell people your investment story? You want to tell people who you are? Can I tell people who you are? Sure. So we got a visit from the layman's doctor who was not here to us. She's actually here to Martin. So you guys can put those two together in your mind.

They're going to misunderstand when I say that. So let me be very clear. Bam, the podcast producer, is linking up with the layman's doctor. All right. Bam, who's in a relationship. Bam is in a relationship? Bam, is he in a relationship? Wow. Wow.

Yo, when did I ask him if he's in a relationship and I could say it on the podcast? I said that in like episode four or five. And the answer was yes then. I know we're at episode, I don't know which episode this is, I don't know if we drop it, but I know it's in the teens.

Yeah, but I don't know if we're dropping this one next. But we're at the end of the year, but I'm thrilled. Damn, my condolences to all involved. So guys, back to stocks. Back to stocks. I like when stocks involve a lot of laughter, you see? I hope that's how, I hope that of laughter. I hope that's how people enjoy the market to understand that it's something that it's fun. It doesn't have to be hard.

It doesn't have to be technically tough. It makes a whole heap of sense. So having said all of that, I'm looking at my Q1 in JTrader. I want you to tell people what JTrader is just because they stress me all the time is jsc's trade platform you can go and execute your trades there you don't have to deal with a third party don't you don't have this message your broker you just take it into your own hands if you want to buy or sell years ago your jcse numbers you can have more if you have more than one jcse numbers so more than one accounts then you can just put them all into the one day trader screen you log in one time you can make all the trades from there boom yeah send your money to your broker that the money is there

they put the money on the system and you can't trade yeah uh ouch what was your first what was your first trade for the year first trade for the year yeah while you look that up i'll tell the people it's so funny how serendipitous my first trade of 2018 year. Yeah. While you look that up, I'll tell the people, it's so funny, so serendipitous. My first trade of 2018 was a company called- 2019, you should be looking for that, right? 2019, apologies, was a company called the Jamaica Stock Exchange. I bought a little bit of units, a few units,

for $10.77. Wow, at the start of 2019, it was my first, first trade in January of 2019. 10.77. What's JC at right now? Crazy. 30 something? Or is it 20 high? I don't know. I can't. I'm checking also to make sure that people get some accurate numbers from us. My first trade I think it was Fontana. I'm looking at, I'm not thinking, I was looking at it. was the 14th of january so i wasn't buying or selling anything in at that point i think i just sent allocation to fontana i was waiting for it to come through okay and then afterwards i had bought into when was

that ipo it was in 2018. well i think it's it either came on the market at the end of 20 came the prospectus posted at the the end of 2018 or the start of 2019 so yeah oh hmm so you would have started the year looking for um you're right because fontana's ipo was in december 2018 so you yeah i guess the money is i was sitting and waiting yeah i think i had no money to spend at that time yeah wow foreign money the refund hit and i could just go and do my thing then i say okay yeah because that refund thing is a real thing for a lot of people and it was a real thing for me back then jsc jamaica stock exchange my first trade for the year 1077 i said or 10 and 77 cents is how much i bought it for we're now looking at jsc as a stock at the end of the year that costs 27.86 so more than double and it has gone up to at least 40 but not at least 40 it has hit 40 40 something it has broken 40

yeah that's the word that's the term yeah so 1077 said i'm looking on in terms of in terms of um in terms of, in terms of, um, I was still buying jam tea around there at that time too, because of what we were waiting on the whole time, the QWI. The QWI, yeah. Yes. We were looking at QWI from 2018. We were talking before it named QWI.

Yeah. And what happened with the, I think the last, the annual report, and the annual report for last year, for 2018, had mentioned of QWI. They were finally moving forward with it into our actual company because there was a lot of news around that with KIW, what they wanted to do with KIW and in QWI would be the solution to their issues with using KIW as that vehicle. Exactly, because at one point I believe they wanted to list KIW again, but I think there

was a question about whether or not they'd be able to put it on the junior market yeah there was a question the question was no it was answered no because they said you can't move off the main and just go on the junior because that i think that is a rule in the jc rule book you can't just yes because they were because kiw for context was listed previously and delisted in the past and they couldn't go back and then put it on junior market yeah and they could no they wanted to they wanted to put it on where they didn't want to ipo they wanted to slide it on the market so i'll list my introduction introduction possibly yeah the junior market rules are that you have to do you have to actually do an ipo there we go you guys don't know i listed my introduction is check the show notes and you should see something there if you didn't i'm so sorry you have to check google if you didn't add him on twitter no no no no no no

that can't take the pressure anymore but yeah listing by introduction yeah um which is one of the ways that you can ipo yeah not even ipo does you want to tell them what that is i'll tell them why it is pretty simple it means literally what it sounds like listen my introduction it means that if everybody all right i'll use the mje example although that was not listed by introduction but it could have been meaning if you take a known company that has known shares and you take a listed company and the dividend paid out to the people of that listed company is shares in that known company that is not listed so in this case we'll say Mayberry investments, MIL is a listed company and we say MJ is known but not listed and

what happened was that MIL people who own MIL shares got MJE shares for free which is part of that money that we told that we made because just by owning MIL we got MJE shares for free and And then I think one 10th. One 10th of MJE. Yeah, the count. So if you had a million MJE shares, you'd get a hundred thousand MJE shares. So we, I didn't have a million.

MIL shares. Let me just be clear, just an example for the people. But yeah, in the event that that happened, they could have listed MJje by introduction because enough people would have gotten yeah shares and it's a company that's enough it has enough shareholders to meet the requirements with 20 percent must be listed yeah exactly because what they did they had paid out 10 percent of the company so they paid out another 10 percent to other people 20 percent are owned by the public so yeah they could have been listed by introduction.

If that wasn't clear for you, check the show notes and you'll see something there. Yeah. Well, yeah, so we thought something would happen. They tried to list by introduction on June America. They asked for a waiver, but they were told, no, just IPO it and you'll be good. That didn't work out in the plans, I

guess, but they finally put it into writing qw i we are doing this incorporated the company and it will receive all so i remember the annual report and i think it was the final results for the year randy saw qw i in the words qw in the annual report yes in our report and in the qw and the intention to do whatever with it was in the annual report. QWI itself was on the annuality results. They put their subsidiaries and QWI was there. And I said, yo, that makes sense.

Something is going on here. They knew that they jumped in. They started buying. Annual report confirmed it. They started buying some more. And that's right, some trades where I bought some QWI, some Jumpty with expectation that QWI would add value to them. And we are now here we are now qw add value to jam t definitely i bought jam t i was buying jam t at three something to four and jam t is now at six

something yeah people taste it not doing nothing right it's so funny yeah i started off with what 158 percent gains on the first buy you're starting off with 100 and something first buy yeah yeah jesus it's like we know what we're talking about fontana actually have some fontana bought also at three dollars yeah 15 cents that was my second buy for the year wow and amg was my third wow mje was my fourth wow uh salG was my third. Wow. MJE was my fourth. Wow. Salada was my fifth. And Salada, yeah. Salada was a nice, interesting one because Salada almost became my very first loss. Oh yeah, me too, no? Yeah. I'm not taking this one.

I'm not taking this one. It made sense. We looked at it, there was going to be value created data. So pull it. Yeah. And Salada, what happened with Salada was that Salada had started to really clean up the operations. Yeah. Tighten up the operations.

They had gotten a whole lot more efficient. Yeah. And then the auto money came to the bottom line. Glass there and this here. Yeah. Yeah. So funny how that works. But then they had the boiler fire.

Boiler fire. And it was ruined. They had no sales going over. It threw me off, boy. Yeah, so funny how that works. But then they had the boiler fire. Boiler fire. And it was ruined. They had no sales going over. It threw me off, boy. Cause something like that. Mm-hmm. Kinda, we spoke about risks and the risks. You have to know what risks you can take.

You write down everything. I know this, I know this, I know this. Know what your mitigation is. We don't want a boiler fire. Yeah, but yeah, that's's no me going just in case they have a fact a fire in their factory and lose at least a month out of the quarter in terms of revenue you can't plan for that but you can't plan for what if this goes to crap yeah you will never know the unknown yeah and so it worked with the unknown plan and i this is me here buying it at

38 dollars i also have some buys at 39 but i know i've been buying it from 2018. so these 38 buys yeah it does mean averaging up i know you and steph were buying salada because i asked her about salada specifically because i know she was good on that stock and she was making good money on it shout out to steph guys if you're hearing the noise in the background it's because we're recording somewhere different so sorry about that but the gems are the gems right uh you know what else i have in february 138 sl ah i have more conversations around that too yeah we spoke around we told him that we're analyzing that from long time yeah so this was me also i would have been averaging up maybe or down i don't know about at 3.91 cents then what is 138 sl now let me see if i'm still upside down on that i don't, I don't know. I bought it at $3.91 since then. What is 138SL now? Let me see if I'm still upside down on that.

I don't remember. I remember being upside down at one point on it. Upside down is a nice term that means that we'd be in a lost position. And that was me buying it in February for $3.91, almost at the end of February. And it is currently listed for $4.02. And I'm actually still personally in a lost position with that one. I'm at 0.5, how it go? Negative 0.5%, a half a percent loss technically. And I include fees in my buy price.

So 138 SL is fine, but then I have a different power than 138 SL. And it was all, yeah, it's all those things that I tell you. Well, you know personally, some things get bought so that you remember to pay attention to them. Yeah, 138 SL is one of those. So no, at the end of the year, I'm technically breaking even with 138 SL. Yeah, yeah, yeah, but my plan is a little longer.

As you guys would have heard if you listened to the Ryan episode, you'd understand what's up with that yeah but that's good funny enough what's funny to me is that how quickly we can cover the january people think that we buy everything and we're in front of the computer buying and selling because because they speak about thought short term they start thinking oh they trade us yeah so everybody everybody asked me you can they trade the market yeah yeah i'm not day trading yeah we've never said that either i'm not really yeah sometimes yeah sometimes we get some nice short some nice in the morning that kind of but most times that's not my plan what actually happens a lot with me or you know too is that we make a plan for something to happen and we're

buying for it to happen it's not all fast if it happened early if we're buying for 25 growth and we get the 25 in a week instead of three months it's not my fault yeah i didn't tell you guys the market information so people if everybody else is saying oh wait that thing is there and we saw it before them we are three months we we thought in three months time they'll see two and they see within a week then we just made that money in a week yeah it's not our fault okay so that was a good q1 it was a good q1 um but q1 not done anything happened in march interesting march march march i was buying a lot of Seprad, I see. Ah, yes.

At the end of February. I did go into Seprad. Yeah. I think I had some before that. Before. We'd have been buying Seprad because we spoke about Seprad from 2018. And there's still plans around Seprad.

Seprad, yeah. Yeah. I won't go into those now, but Seprad has been interesting and good. And funny enough, I think I must have exited Seprad, did I? No, I did exit. I know I exited at a positive, so money made there. I exited up also. Seprad is actually one of those examples of something that the stock moving towards my goal percentage earlier than I expected. Yeah. so i'm waiting for something specific with separate

i just haven't actually seen it yet i'm incorrect i do have separate in here i just don't have it on my dashboard for some reason i wasn't tracking it wow that's dumb i didn't have to written in so randy has money he doesn't know about it i don't know about that yeah i'm actually up up pretty nicely on separate wow 19.7 percent i think that's why i'm happy i existed right because so it went up to even 70 this year yeah yeah so i was buying 30s parties exit yeah that's what happened this buy i'm looking at is 36.50 yeah so i exited because at is $36.50. Yeah. So I exited because my

outlook on where the money was coming. Sorry, I'm pausing to show our independent person that I'm not lying. So you will know that I'm not lying about this thing. $36.50. What's that date, ma'am? You can shout it. Shout it so the microphone hears you.

That's February. Here we go. $36.50 but yeah um i bought it heavily up to 47.50 actually wow i was looking at it and i was like all right so the restructuring with the whole sugar the consolidation of certain portfolios they're going to start losing some money so i said all right just leave and when i come back in and walk walk walk right back up with them yeah that's true when did they do the um facey buy facey buy facey buy was during november so they not it wasn't during november so they did the yes they got the facey on their books they had the facey transfer they send the money to facey facey offered some shares to the market.

When did they do that? So that was in November last year. And so I got some at 23, I think. Some Sephora shares went to the market and it was a good time to get because Sephora doesn't have much shares out. But getting at that price, good company. That was in October 2018. So I got in at that time too too that's a good time to have made some money so i existed yeah because those well you remember what it was sold for you remember

what they made a big deal about selling it for it was 23.99 so almost 24. yeah currently seprad is 40 odd 50 odd how much 40 plus 50 plus uh that's a good guess 49.44 cents 49.44 and you could get it at and you get that 23.99 yeah wow so you double okay 49.44 and we had bought the day they had sold at 23.99 for their share sale so right now you'd be looking on 106% on top of your initial money. Yeah. That means if you put that bills in, you now have $209, $206 and 10 cents. Yeah.

Yeah. That's pretty good. That's pretty good. All right. Let me not spend too long on Q1. Jump to Q2. Q2. What did you do nice in Q2?

Q2. My first thought is Wigton. Wigton. Because Wigton are... The market changed in Q2. Yeah, man. People were complaining. They were wondering,

can Wigton take my money? But me and Randy, we're fully saying, hey, hey, hey, we can send a lot of money to this thing. But liquidity, guys. Liquidity for the

first time that's when you hear our strategies start to kind of change i personally stopped chasing those something that i mentioned earlier stop chasing the big percentage numbers and start dialing in on what the cash kick out is which is one of the changes after doing is moving from tanto to buffet you know and it's it's it has been instructive since because it makes a world of difference now in terms of what the actual cash kick out is versus what that nice percentage gain is percent you can make some crazy percentages if you below so looking at my screen I'm a skill you know yeah you're not hearing humility is a great trait than I know so don't sound like that brandy fellow I see burrito in my screen where I bought some burrito yeah yeah I bought it I was 44 45 what's that is that around the time of um that's after rights

issue one yes yeah because it was a spite and I was looking at it I was like and I saw the results had come out I think and I was looking I'm saying wait wait wait wait these next results coming yeah must be so why did you why did you predict what what a what a funny thing to bring up why did you predict that the next results would have been good as their fight but let the people know all right so we're looking at the ownership of barita and i was looking at where the investment gains would come from so i think in the audited they mentioned that the investments that barita have investment that barita has investments um whatever people get it yeah the investments they

own or the unit trust they have shares in their own unit trust and but i was looking i was just wondering how do they account for that but you know unit shows the equity unit shows it's at this price now it's at a higher price tomorrow based on the basket of things in the unit trust then they make some money yep so I was seeing how they do the unit trust how they make money from that the investments are in the unit trust so cool look at Barita's top 10 shareholders at the time I think if you look at it you saw that Barita unit trust was there too one of the major shareholders of barita is the barita unit trust so they had made so they had they had made some gains

and the the actual companies they were making stronger gains from the from their business lines and the unit trust gains were the investment gains were just killing it for them so they were doubling i think almost doubling or almost doubling on every other thing and you and the investment gains was heavy and they record so i don't know if this is so this remember i mentioned a couple episodes ago a bit that i have um this is all predicated on your assumption that the unit trust changes in the value of the unit trust are sent to the p&L statement for Barita. So if that is so, then that would be the reason why the two would be jumping, right? It is, I believe, again, we could be wrong,

but it is also why I think we predicted that the last little result would not necessarily have been hot because Barita's share price did not jump as much during that last quarter. Of course, it came out that they had good results, strong results, but it was not as strong. It's not as strong, but the key part was the price had already caught up to a lot of it. So where is the new gain coming from? It was priced in. Yep.

Yeah. So there we are. Made some good money off that, just on that. So Barita bought some Barita at that time. As I had gone in heavily on Wigtown, the IPO itself would take a lot of my money. I didn't send all money to the IPO because I was still, if you don't know where the cutoff point would be,

it was higher than I thought it would be, to be honest. I thought I could put the, I thought if you send, I thought like a million would be where people cut off. Turns out it could take a lot more than that. People got in four million plus, I think. Oh, you mean in terms of putting into the rights issue? No, man, not rights issue. What are you talking about?

Back on Wicton. Oh, back to Wicton. Apologies. Yeah, people got a lot of things in there. Yeah, it was pretty big because it also popularized the term bottom up to a Jamaican, bottom up allocation. Yeah, because it allowed a lot of people to get in. I mean, Wicton is, in history books,

you know Wicton is going to be a major point when the Jamaican financial landscape changed because regular people started making money from it. The people would be kind of fraidy-fraidy, but there's a lot of ads. It's the first time in our lifetimes, I would say, young people's lifetime that we see. I remember, I saw the people that were coming in.

The everyday man. This guy never heard about IPO before. He's here. We had campaigns to the government offices. Public sector workers. Public sector workers. Yeah. The government really wanted a lot of people

that work under them to actually get into this thing and make some money. Mm-hmm. And it's not just the guy behind the desk. The security guard come to to everybody was coming to apply to Wicton yeah and those people I mean end of the year we're looking on Wicton was Wicton share prices you know 98 cents or something I had a close to 100% growth and it broke 100%

twice for the year more than two times I think yeah because sometimes during the day it would break it would trade with actual sitting price so people got more than 100 percent from trading so well it's a hell of a year hell of a year yeah you can't overemphasize what wicton did for the market it will truly democratize the market it move her from the whole heap of money people and the highfalutin talk to the regular man on the ground. And then suddenly, suddenly, when you know in popularity come into it, things start to change because now people have a start, shame people have a start.

No, you knew what I'd been doing for years, costing the houses, costing the market, telling people that they need to fix it up and you need to talk to people in real ways. Q2 was the time for that. We will look back. I can comfortably say that we will look back i can comfortably say that we will look back on um wigton coming to market as a changing point in jamaica where like we truly

things truly shifted and looking at the screen and i know one of our favorite stocks for this year was where we started i started buying a lot of that. Signos. So I was getting Signos. Ah, yes. 15 and under. Yeah, yeah, yeah. And I was just buying and buying and buying. Yeah, yeah, yeah, yeah, yeah. Yeah, wow.

I never thought about that. Yeah, yeah, yeah. Signos is when... I made a tweet, but I don't know if it was then. I know I had made a tweet saying that, just explaining, Signosa. I've done, Signosa is so lucky.

I've done like two or three threads for them. Not for them, but about them. I mentioned that they had IPO. Just to lay out the story, the IPO, they did the, and it was, I won't fit it in there. It's in June that I made it. No, we're talking about SVL there, not Cygnus. Yeah, but Cygnus, I remember speaking about it and saying plainly that they came in to the market,

they did an upsize, meaning they took more money than they initially said, but they had told us that they reserved the option to do that. And then a lot of it got there's a water down i'm realizing the tweet is actually from 2018 november 2018. and then it was just an ipo without without upsize then i would have i think you look at it the the multiples were strong. Strong. At that, but the upsides just doubled everything. So you look at it, the PE went up, everything went up to a point where I, if it was at that point, I would not have invested.

I did invest, I got out early. Sometimes I boast about it, I show people the chart and I showed up the volumes at a certain level. And I said, that was me. That was the one trade I got out. Oh, yeah, a lucky volume. Yeah and I fell from that yeah. The tweet I talked about from November last year was actually me talking about how they were getting hit on the US dollar transfer. Actually that too has hit a couple of companies that yo you need to, I was just saying you need to start

concentrating in JMD, you need to put your money in JMD, anything that you can because some companies can't. That was part of what I was doing by then, i see that's a very popular thing people say no so i'm happy again ahead of the curve in november 2018 he said i was talking about that i should i should put that tweet in the um show notes but uh yeah that took a hit in november 2018 and that's when we realized that yo after a hit if the company is good yeah they're going to be perfectly fine and so said so done signals rose back and we're like oh yo this this bad thing is good. Not a gem for the people who may be following us and not understanding what we speak about certain things.

Like when it comes to investing, I say, yo, it's a wagon scheme. Yeah, nothing is permanently good. Nothing is permanently bad. Yeah, where I'm here, I will trash it today. And if the results come out tomorrow and the results show potential i am going right back into it yeah yeah yeah some sra my most disappointing stock for the

last five or six years which i haven't bought but they just didn't live up to their potential at all just me looking on as a fan they truly ruined themselves and if they're good tomorrow or show signs of being good tomorrow walking on the months yeah man that was yo it was also the year of ssl vc when they were supposed to come and they started to act shaky this is the year this is the first time in my life i read an audit report that said yeah where the auditor did not say that they stand behind these cameras yeah that's like wow when i so i always hear you know and when i saw it i was wow got three years and this is the first time i've seen something like this and this can happen the auditorium always was you know yeah it's always just a go in fact i'm on record telling people yeah you don't have to you don't have to read the auditor part just get into the financials

right and and then they taught me that you yo, pull up your socks again and say that because not every company is always on board. And we mentioned them. I mentioned them just now to say that I'm not necessarily giving them a hard time, no, because I see them revamping. And if I see something good come out of them, I'll be the first person they're buying in.

Yeah, yeah, yeah. This was the year of, iCre create also come listening on the market young company tyrone big up tyrone who has been on the podcast explaining what it is he's a good example of organism on my part meaning me jumping onto the company when i think it's going to go up that's what i do in investing i'm not here for love i'm here for the money yeah i love it and i'm passionate about it but i'm here for the money yeah my mother listener company don't look good.

I'm not meant to be the person going, oh, you have to believe in it. Unless my mother give me a lot of reserve shares in which case you should believe in that. But no, yeah, you do it as a organist. You do it, you need to care about yourself because no one else in this case does. It's your money.

Anyway, I said all that to say that I did also buy into iCreate long after when it fell. So around the 70 cent region. But when it was at a dollar, I mean, I love the company, I love the idea, but it's not my money. Yeah, when it dropped down to 70 cents and I can push my horizon out to a year or two, Tyrone might, as he said on the podcast,

that he's looking at various options and regional expansion is one of them. And if that worked faster than we expect, that thing might fly back up to a dollar. And a dollar, if you buy at 70 cents, is a nice little bit of gain. If you buy at 70 cents, it's not 30% gain. It's more than 30% gain.

Yeah, it's like 42 or 43%. That you make. The upside is always stronger than the downside. Yes, it is. Yeah, and the growth. You remember them days when we were joking percent gain it's more than 30 percent gain yeah it's like 42 or 43 percent that you know upside is always stronger than the downside yes it is yeah undergrowth you remember them days when we're joking with cable and wireless cable and wireless joke between funny because i didn't get the joke at first you got it on the wrong side yeah but yeah it it's a good it was a good lesson to learn yeah uh so yeah q2 was the quarter of a week done uh q3 me that's the money there q3 so i'm buying signals heavily all the way up to 15 dollars something then i see some more by barita by some attempts about some more barita but some more signals this is in q3 but some more weak turn i see we can just i got some weight around 79 80 i was buying it up

some more signals too i was buying quite a lot here the money man man i see myself buying a lot of um jsc i got some no that's still that's still that's still q2 for me I got some jam t too. No that's still Q2 for me. I got some jam t too. Q1 actually. You seen some jam t? Got some jam t. Oh yeah but then boy jam t would have been being impressive all year in my view.

Yeah but the price, the price started moving and then remember that other coming to party sales that was pushing it down. That's when QWI was about to list like q3 or q4 this is q3 okay no no so i'm wrong i still yes it's q3 it's after six what month we're looking at seven seventh month so july i was buying some jam t i bought some jam t around five dollars well before you even go Blue Power, we talk a lot about what we bought. I'll say something we don't talk about a lot.

Our sales. I exited Berger heavily during Q2. Still Q2. I exited Berger heavily during Q2 at around the $19 level. Of course, it had been buying from early. The single digits and then the 10. Well, five sole again, because five sole will beat all of us level of course it had been buying from early the single digits and then the 10 well five

sole again because five sole who beat all of us because he's been buying it from the three and four dollar level yeah but i bought i bought late single digits and early double digits 10 and so on so existing at 19 i didn't mind i was doing that in q2 yeah um and look at it no because i don't think bird is anywhere past that bird is probably like 17 or something like that i don't think he's doing too hot right now need to work on some things yeah but yeah blue power about blue pause by blue part six because i remember it was i was four dollars something for a good while announcements hit and people said no i'm not saying that four dollars anymore and it was shaking to get that six because i remember there was a heavy trade one day

i had sold a lot of things a lot of money on the account it was 40 hundred and something a good amount of shares were in the queue and i remember i had just bought at six it was the the enough share it was 440 years was at six and i sent you i sent you the screenshot i put in the group by the time i go the person we threw the shirt did you say i wonder if it was me no it wasn't you it wasn't me yeah yeah yeah i probably went to buy it i didn't go on to and then go in and put the trade on the symmetry i never so you know j trader you see pending pending refresh your refresh yeah it's your bath you said no it it's it. Pending, pending, queued. I was like, oh, it's a number that I shared. Oops, and JTrader, one of the things that, then I mentioned JTrader was earlier,

but one of the great things about JTrader is that it's really fast. So sometimes by the time you put in the order and you go back to check the status, it already filled. Once it's there, it fills immediately. Yeah, JTrader was a very key tool, especially this year. I see myself still buying Cygnus, boy, I bought Cygnus all year. Mm- myself still buying signals boy about signals all year

i'm gonna sell it my bike back yeah it's such a good stock yeah it's such a goddamn good stock good company like that strong company the things they're doing you look at the thing you've got a company's lean it's a fund so signals capital management they got a bag of money from the market and put it into this thing that has no employees they just administrative services to them and they charge them a fee a small fee for it so all the money we invest it doesn't go through a large line of employees we pay for this building we pay for light bill no we have money here we pay this small fee on it and then we just invest the money put the money out to other companies and then call it loan payments or equity payments whatever so there's not much in the way of the money you

get back from them so good money and and and that setup forces them to do that dividend so dividends will always be nice there yeah there was a lot of cash sitting down not gonna invest it you know the shareholders and they feel nice yeah this is the year that i had to start paying attention to dividends not because i care about them greatly but just because it actually it just throws itself in there yeah yeah signals i got a good dividend from signals and it's the first time i can actually feel like i got a dividend yeah you can actually buy something yeah i don't know if it's a lot of party money not even a box lunch yeah and then this year i was like wait what was up yeah i i spoke about i don't know

if it's q3 or q4 it's q4 i don't know if it's out of the podcast if not i guess i said it if you didn't say it then you hear it no i did mention that the signals dividend allowed me to fly for it didn't allow me as it was enough for me to fly first class back to jamaica that's a nice dividend and of course what i like is i don't know plane don't know i don't travel often but this dividend i thought it had been in one side yeah well i know how much you hold so i know how much you hold so i know yeah it's a nice dividend yeah yeah caramony both and done humility is a good trait to hold a humility of course i'm joking i don't think you're humble i hate that i have to say that but i know it'll be repeated in the wrong way. Guys, I do not think

Tanai is not humble. He's actually very humble. Trust me, because I know people who have less money than he's moving around and them go on hype like a rat.

Oh gosh, I know that joke. Oh God. You're those jokes. Anyway, funny enough, I see myself selling burrito a lot

in Q3. What price? I see sales at 78, 95, 70. But look at this one. At the start in Q3. What price? As it sales at 78, 95, 70. At the start of Q3, I was still buying at 45. Yeah. Yeah. And I was selling in Q3 at 78, 70. So I see myself selling some jam tea actually at $4.40.

You sold at $4.40? Mm-hmm. Oh, you're not a believer. No, I'm a believer, but I'm also an opportunist. This was in July. What else happened in July that I should never forget

because it involves me also. The lab, I think, listed in July. Yeah, yeah, yeah. Standard quarter for me in terms of everything. The lab, obviously. Big up Kimala,

big up the lab. So that was a quarter of the closest i've been to an ipo in terms i've seen it top to bottom from the belly up inside i understand it completely you know i know what happens at the back end um yeah it worked out well for me it worked out well for me really well yeah really well for me but you know what it was for me it was also an opportunity for me to see like you know you work towards something all the time over the years and you tell yourself yo if i ever got the chance to the xyz yeah so scrape up every

dime all of the money thing it in went well and no it's still not it's still a huge holding of mine obviously but it's not the only one because again, you don't stop, yeah? Yeah, you never stop. Bolt never break the record one time and then just done. Yeah, you break the record. Yeah, you break it and you have to set it again. Show them boys how to say it work. I know, yeah, you use the stepping stones that you get.

It worked out well for me. And from that boy, I look at the JTrader, I've seen just more and more and more. Yeah, I did sell a lot of that. I did sell a lot of jam tea. The salada we mentioned earlier, salada got back to in the 30 zone and I see myself selling,

I have some saladas and selling at 35. Like I was like, yo, I can't take no losses. I can't take no L's on this boy. Jump out. But that's dumb because I think they've

managed a lot of what they have now they still have that that coffee the cess to handle yeah but i i my entire strategy around it has changed though and i'd have to worry about a loss yeah on it so it works great blue power you're right i would look i was on the wrong tab i going through now yeah with some heavy blue power buys happened because we would have why were we buying it then because we knew the number the the first they had mentioned it in their financials yes yes yes so we knew and we already know is we see what happened when whenever may very set up a company well to to reorganize itself and we did all this before we ever knew about the palm oil stuff yeah which is more q4 the palm oil with them i'm not being able to get the same discounts on their foreign

market yeah 20 of the revenue they say uh which is funny well i can't jump into q4 a little bit and jump back out q4 what was your response to that our funny have a funny thing for Q3. We're not done Q3. Go ahead, sir. So, yeah, Seprad sells, I sold some Seprad there. Was selling Bupo. I think, so I got the Bupo, price rise, and I wanted to go and buy shares.

So when I was vested as a shareholder and I would be a shareholder on record date, I would exit it at a high price. So I bought around $6 and sold around $13.99 I think. So some heavy prices. And still get the share for free. That's unfair. Yeah, more signals buys at that time.

So how did you know to do this? Because that's what people are saying they want to hear. Tell them that. They want to know how they know to do it. They don't just want to know what we did, they want to know why we did it. So why why did you do that how did you know to do that at that date yeah yeah so on the record so we have a t plus two system in jamaica which means that transaction day generally the t plus two is most of the market is two plus two so the transaction day plus two days after any transaction you do you're not you wouldn't it wouldn't be on record as yet so if i'm a shareholder today i sell today then tomorrow on record i'm still a shareholder the day after i'm still a shareholder the day after that then i'm not a shareholder anymore there we go so there's a settlement period so the the trick is that it then allows him to sell on the record date

get the money and still get the benefit of having been a shareholder. So he got the free shares anyway. Yeah, it worked out so well. I held more still, I didn't sell back then. I sold more, I sold out the last of it, that's what I was going to say in Q4. I sold out the last of mine as soon as the palm oil news came out. Not that I expected that it was going to be crappy for them, I actually have great expectations of Blue Power. You know those. But I expected that the market response

might be strong. So I jumped out of that thing at $6 something. I see it now either floundering at $5 or something or whatever. Again, I walk on these guys.

I love it. I like, I love the game but I don't love any company other than the ones that I own fully in the moment when I own them.

Yes, i jumped out at my profit and if it dropped too low i'll buy back in that's how you do this thing when you're hungry when you have a little money you have to work harder but there the joke was x fund oh jesus oh yeah so i bought some x fund on a mistake what were you trying to buy instead so no no no the mistake i wanted to buy x phoneUND, but the mistake, I remember I messaged you. Oh, yeah. So, the XFUND had recently restructured the company and the way they recognize the player shares. Supplier shares, they're below 20% ownership total, right? So, they're recently tracking it. The gains from it would be on the stock price movement.

Player being going down, being going, being going down because they have a lot of problems. So, XFund was showing a lot of losses from them, some billion dollar losses. So, when I saw that the duty restructure, cool. I checked Plyo itself's numbers and I saw

that, hey, Plyo is bringing in heavy money. Cool. Plyo being the us company that has hotels one got some good money in that quarter this quarter now sadik was it also came out and i saw where sadik were was showing x1 got not x phone they said the gains from player were x amount gains from their associates was x amount i was looking in the six months tab and not the three months tab so the six months were already all information i was tired i was dead yeah yeah so the six months tab was showing the portable four plus this one plus this one i was like wait a man money make time for buy

x phone and the three months was showing that we know where you make so much money still it's all for this thing cool but i was getting it wrongly so i thought this is more money on top of the money they made from them already bought x phone it's a good thing the market was agreeing with me about around ten dollars something it gone up to twelve dollars thirteen and i sold i was trying to have to i caught the mistake. So Randy, I don't think he, I don't remember,

I don't think you bought in because you caught the mistake before. But I sold out. For X1? X1. I may have bought in enough. I, yeah, I say I buy here for X1

for I won't say how many units, but I bought at $12. But it went above that because the speculation, I think a lot of people are still expecting x1 to x1 to do i didn't i didn't exit i didn't exit did i exit at a loss i don't know if i existed at a loss but i didn't it was a big buy it was a and that's no excuse i lost the loss but i i bought

it with the intention of the money i had a specific plan behind the money i was like oh x1 for a part and i would have put the buy buy in and then by the time you'd have realized i was like oh well we don't have to do a heavier buy i pulled it up and you know what i put the money back in as always signals i bought that throughout the year my god i bought that up to 22 dollars 22.75 yeah i was buying and i was buying windows 21 plus yeah yeah So I want a lot of signals too. And because of what I know is coming for this company. Because they're so obvious. Now obvious in a good way, meaning they only ever go for money when they have something

to do with the money. Yeah. Because they upsize itself from the IPO time, when they upsize the offer because we have this strong design and we don't have enough money for it from this IPO. Exactly. And we profited because we realized that they do something with the money. They failed to cut that bad results. But after the heavy drop, we went right back in and bought it. The type of loss they took for the results, they changed, they bought some currency and

the price they bought it at was lower than it ended. It was higher than it ended the quarter. Yeah. So basically they have to put a loss there and because it's so much money they bought then yeah they take a loss but on a cash position but in reality how much money that's funny but the amount of money they actually had the money coming in wasn't changing exactly it was going on here we're changing it it was growing it was growing every time they do an investment the money that comes in grows yeah which means

you can almost guarantee quarter and quarter is almost going to be good so what they're doing next what if we're talking about next year with the 35 35 million dollar 2020 2020 the money class should be coming in with the death planning to do 15 million from loans, 20 million from rights issue. They're working that out. But if you look at it, we have double the amount of money. So they have 39 million capital.

We're taking in almost the same amount. Again, so that was the... Because we have so much things to do with it. Yeah. So it's almost like the IPO situation again. But this time, instead of being overvalued in air quotes they're not actually undervalued yes that's crazy to me so wow what a time to be alive what's the time to be a signal shareholder i went and got did i thread about it and the price spike but thanks to kalila for that because kalila i'm sure

she's listening to this because we do help. We kind of do the same exact thing that she has started doing, which is to help make investing simple for people. So yeah, I know she listens to this and she gets a lot of data from it to ask her questions and the stuff. I love that. I love that the space is developing.

This was the year that the space developed. I can't jump past Q3 because this was the year that I started doing Grow. And that was the quarter I started doing Grow and that was a quarter I started doing Grow it feels like so long that it looked like matter of fact we started this podcast in Q3 yeah in August we started it feels like a year but no yeah we started this podcast in in August so shout out to that shout out to Bam again for for helping us put this whole thing together um and we have gotten a thunderous thunderous

thunderous thunderous response from the people we're really really really really happy about it um the people listening no thank you if it's the first time welcome listen to some of the old episodes if you think why are we doing what i'm talking about here's my promise to you literally stick with it literally stick with it with what although you know it's not a stick with the kind of podcast you don't need to it should be good every episode and it is but if you you listen one episode is great go back on this another episode and say yo these guys actually know what they're talking about and we're making it relatable we want you to understand so we're never going to be talking heavy heavy heavy finance meaning that we don't know it and we do do it for ourselves but there's

literally no need to need to make something more complex than it is. Yeah, that's what it is. Yeah. I think it was Einstein. Einstein said something about simplicity. Things should be made as simple as possible or something like that, but no more than it needs to be. Yeah.

And of course, as Einstein supposedly also said, if you can't explain it simply, you don't understand it well enough. So people who need to hear a complex answer for a simple question i can't rate that complexity for complexity's sake is just for watches you know when i think they're in a sit when i speak to somebody like that and you say something and then they repeat it like in the more advanced way as if to say you should have answered in that way my head i go on so you understood what i said but so what's the reason you need to be said to you that way you understood so you need to use these terms bro you need to use these terms you

need to use these terms bro it's not right if you're not using the terms you don't know you're talking about it's not finance if you don't say it like that yeah exactly right it's just making money yeah which is funny because the guys who come up with the terms didn't have terms for it. They had methods that they use. And the guy's like, you know,

so that guy was doing that thing and we're going to explain to us, I guess. Yeah. Bring it back to Buffett. Buffett popularized, he didn't invent, but he popularized DCF.

Mm-hmm. Discounted cash flow. He wasn't saying anything. It's weird. You know what else he did? He modified it. Mm-hmm. And I'm sure if he had

well he's buffeted and carry a heavy amount of respect but a regular guy down the road tell you say modify dcf and do it a certain way man they might say oh no that don't work and i say it go into the book but he modified it for his own purposes and he explained why he modified it i am comparing against this because this is where i can put my money because he's being buffeted to him he needs to think about him can put billions of us dollars and so he compares against that he modified it for himself i know people worship it i think maybe when he did it people would not have done it but he's been around for so long he has that heavy amount of respect said that to anybody listening that yo if you have something that you find has worked

founders work for you and like you're right it work but i don't understand other people are doing it so let me test it and you test again and you keep working you keep testing it i keep working even though it's not the way that is typically done you'll believe in yourself people always say it can't work until it's suddenly work and then turn on and praise you for it yeah yeah i use the example all the time like i'm a fan of design and architecture um and you know the house falling water no you need to get you need to get on that wikipedia game bro so falling water is a host that was designed by frank lloyd wright who's a legendary architect what a lot of people don't know is that frank lloyd wright i could be wrong i'm just trying

to hear it to my dmc fam is actually not a trained architect he taught himself and no architects worship him yeah and he uses things that compression and release uses different things that are typical things but you you wouldn't think that you're a great architect you're making a great house and you're going to put the entryway for this amazing multi-million dollar house is a tight passage a little wider than the size of a door, that's entry to your multimillion dollar house. But you have, you walk in through that tight passage and you go up a small stair

and you come up into a beautiful, wide, brightly lit place. And he did that just to have that compression and release effect. And I'm sure if he may say, hey guys, I'm gonna do this compression and releasing, I'm gonna make it uncomfortable to come in so when you step in it is extremely comfortable and architects will tell him you are crazy of course yeah but now they worship him i hope somebody's listening to this 20 years from now and writing it down as a randy said or those are the randy says you want

oh hey big up frank lloyd right although he had a crazy personal life but hey big frank lloyd right uh yeah q3 was fire q3 was fire q3 was the quarter of the work q3 was when i started to actually say all right for years i've been trying to bring people into investing and i have been bringing people into investing let me try and put some energy behind it i told you guys would be very personal i'd be more honest in this q3 was when i say yo is either going to stop talking to people are going to put a price tag on talking to people because i know what i'm saying is working and the only way i'm going to keep doing this headache is if people pay to do it and of course i like to i like to i like to put myself in a box where i have to either succeed or stop so nice price tag it does cost 85 dollars to come to grow um 85 uscs

and i have to ensure that there's 85 us worth of value there at least, at minimum. And of course, I run off my mouth too much. And not everyone is happy with me running off my mouth. So you know if I get it wrong, they're going to be on my neck. So that puts pressure on me that it has to be right. It has to be great. People that come have to have a great experience. They have to be good. And of course, my personal thing is if you don't like it i'm

refunding your money immediately off top because i i believe in the customer care that i want for myself should be extended to everybody so it's been working thanks for that you guys don't hear a lot more next year for me but yeah it's been the quarter of it podcast thank you i started talking i don't think i was really speaking i don't think i was speaking about investments well people listen to the podcast so that you don't speak at all so this is this is speaking that night so imagine before i wasn't talking about investments on twitter for the jokes yeah crap you tried to trade that it was always private conversation i never really i don't really want i don't really want to put myself out there

like that to be oh i'm the guy for investment i just want to make some money i want this to work for me but i think randy kind of showed me that from before randy he's very charitable you know that's the problem he's been he's been speaking more than he should he he really wants me to get it like i want i want me to get into Yeah, he puts himself out there a lot. To his detriment, a lot of times, he's going through explaining the same thing 30 times. And I'm like, yo, why are you doing this? But yeah, so I guess that's where he showed me it's better for everybody if everybody's into it.

Yeah, the more people in, the more people understand, the better it is for everybody. Truly, truly, truly, truly. Better for Jamaica, better for Jamaican citizens. Better for the world. So yeah yeah q3 was my speaking time so i guess i'll try to speak more still i haven't heard that complaint too much anymore so yeah not everybody happy that you're talking yeah yeah i'm happy for that um and what else happened in q3 some nice stuff would happen q3 ended september so between between

the end of september saying the wrong thing it's right july august september so we would have had lab listing would have had select wow oh yes the first listed phone first first listed what do you call it equity phone but it's it's an attempt at a traditional we call it no index one index phone yeah yeah passive index passive index index phones are usually etfs types things are It's an attempt at a traditional, what do you call it now? Index fund. Index fund, yeah. Yeah, passive index fund. Passive index fund. Index funds are usually ETF types. Somebody's actively seeking profit.

Yeah, and the NAV is a price and somebody's actively seeking to make profit. It depends on the type of index fund. Yeah, they're different types. So this is like a passive index fund. Passive index fund where you buy the stocks and make them do them thing. But it's not, the NAV is the price. There's a difference between the trading price and the NAV. And people,

they hope to get the NAV from trading. And the results of the company do not necessarily reflect any importance for the actual share price in terms of how the market has chosen to look at it, which I'm not against in the case of Select F. But yeah,

it's the first time I saw it happen. And then we see Q4. We've been speaking about it for a while. We've been, it's the first time I saw it happen. And then with CQ4... We've been speaking about it for a while. We've been... You can't see that maybe due to ourselves. Yeah, yeah.

Well, technically, everybody does do that themselves, right? Yeah. Make the passive index fund that buys the main market or buys the sector of the main market.

We're thinking of maybe due to ourselves. Yeah. And probably try to sell it to the wider public. But somebody do it before us. Somebody with a lot more money. Somebody with a lot more money named Sajid. Oh, yeah yeah and there's no there's no harm in that something for the

market of course it's great it's great it's great it's great um people learn this is this is the year of the ipo poppers is when people truly came in and people learned that yo you can just get it it's not magic eventually yeah you do the same thing but if you do the same thing and there's no reason behind it of more than it's an ipo you don't know thing but if you do the same thing and there's no reason behind it of more than it's an IPO you don't know about the company

you don't understand the company and you also buy an IPO then you're going to learn that lesson that you know where you work so yeah in fact

QWI came out in Q4 September yeah okay so in Q4 now Q4 no no no sorry Q3 end of Q3

September yeah so the papas would have been in that because by this point, they would have made money off Wigton. They would have made money off Lab. They would have made some money off Select F. But it went up. Some got in.

Some got out. And it went down. And people, you know, if I'm but about it. And then the next one would have been QWI, which sent Jamaica Tees up also. Crazily. which sent Jamaica Tees up also, crazily, because it had a discount involved if you were a Jamaica Tees owner. I think that's when I did the same thing I did for Groupo with Jamtee. I started selling out of the position at a higher price. In order to?

Yeah, in order to be on record at whatever date yeah yeah i had the same sort of thing yeah as long as you're a shareholder by xyz yeah yeah uh funny enough unlike with blue power i have not jumped out of jam t's yeah because there is there's more money coming to jam t yeah well we're looking at them i'm looking at them them um financial statements that were released recently fresh fresh off the press yeah um and sorry i have to switch over from the barita audited we can talk about that off air in another episode while looking at the jam t numbers and i mean strong strong is an understatement oh yeah yeah we're looking on profits for the year being four more than double 483.1 million jamaican dollars versus last year where it was 193.3 that's heavy million jamaican dollars i didn't say the minute the first part it was implied so that means that these guys have put on top of their initial performance,

meaning their 2018 performance, now in 2019, put 150% on top of it. It's not a joke, a big up man like Jon Jackson, I know that's a dangerous thing to say these days, but I still rate him. He had a rough year he had a rough year he really never rough year he tried for a long time with to get qw out there jam t and in in one fell swoop even i had time but again rough is in air quotes because look at this company yeah who he's involved strong company strong company and part of that strength comes from qwi yeah some people say that these games aren't real because it doesn't include the thing is all right so what i find funny i've said i've tweeted this before so we're on this market right we buy stocks and we're buying stocks for the

purpose of the stocks making us money when we sell them we buy more stocks for those stocks to make us money so if you can buy a company that does it with somebody with with a team with more experience than you and most of the people i hear i know they have more experience than them right cool so the company does it the company is making money they've done it this release result the company has made money on the stocks they bought so what's the issue if you're doing the same thing the company is doing and company is way more successful than you do you really have a point of saying that there it shouldn't be done it's not real money that don't make no sense to me and actual cash will be paid out from qw to jam t oh don't say that to them oh 1.2 percent of the average monthly

i'm working for a member so the number might be wrong but 1.2 percent of the average monthly i'm working for membership the number might be wrong but 1.2 percent of the average monthly value in other words the average monthly now of qwi is paid over to jam as an annual fee yeah yo that mean that man him locked himself into a 1.2 percent dividend every year no matter what plus them own shares so the dividend also in them. So the actual dividend comes over. Money upon top of money. Yeah. Yes, I have not sold my jam tea. To me, I know it. After that talk, it doesn't make sense. It's more than one time we see companies that own an asset, the asset goes to me, but that's profit. There we go. We own something and it's worth more tomorrow and the difference here so more tomorrow and the difference here so you on real estate the building is worth more now cool stocks are way more liquid than the building yeah so like right now i say you can't tear off your garage door and sell it if something happen but you can't tear off 10 to the stocks and sell it

if something yeah they've proven that you can do it. They have done it, I'm sure. They've had aggressive fund. They actually want money. They actually want to seek opportunities, sell, buy, that type of thing. Money being made. So stocks are very close to cash. Very, very close. Yeah. Cash and cash equivalent, as they say. I don't think it's cash equivalent. No, well, I mean, it is considered cash or cash equivalent. EPS. Cash and cash equivalent. think it's cash equivalent. No, well, I mean it is considered cash or cash equivalent. EPS. Cash and cash equivalents, no. It's not counted as cash and cash equivalent? No, true. They are listed because I saw in Lab numbers which are public that Lab does own a nice

amount, a little less than a million worth of QWI and they do not necessarily have it under cash and cash equivalents here. But in real terms... They're very close to cash very close to cash you can turn it into cash very easily one day yeah yeah well I'm sure the guy well you see that's why you don't know what you're talking about Randy because you should have known that that's not cash on cash equivalent guys I'm not an accountant either I mean I've seen some of these guys make accounting mistakes i just haven't called them out tell me what's the point what's the point it's always a learning opportunity yeah so it's always an opportunity and not everybody takes it that way and i don't want to make it to be a point where you're attacking somebody and people take it that way help you when you don't help them yeah and people take it that way yeah so

me too it's it's sad but it's true. I do the very same thing. It's just, but the important thing that people need to take from this is that stocks are very close to cash and you can turn them into cash if you have an issue. Yeah.

So a quick wrap up. So much I feel like we missed, but I'm sure we'll get into it because we'll have another chance to talk and we have a little thing coming that I think some people enjoy. A lot of people I think will enjoy some more than others. But what do you think for next year what are you excited about for

next year excited about for next year all right i'm not going to say transjuneca yeah oh not just stocks but generally well i start i always pressure you let me start um i my this year one of the greatest things i'm looking forward to is to um put like actual tests my my my keystone yeah yeah just how to work it for the market because I know there's money there and I've seen that there's money there's money to be made doing it but I want to truly work on my keystone theory people know that keystone theory is listen back to the old episodes I mentioned it at some point yeah the Kwame episode I was trying to make it a riddle for them. But that's fine. In the Kwame episode,

I do mention in the, somewhere in there, you hear me talk about us doing the same thing with like a Keystone sort of strategy. So listen to that.

And it's a strategy that I know works, but I want to perfect it in 2020. Listings I'm excited about. Boy, I want, I don't want to do typical stuff

because I don't care until I see the numbers. But what would I like to see? I passed Bert's earlier. I feel like, I want... I don't want to do typical stuff because I don't care until I see the numbers. But what would I like to see? I passed Bert's earlier. I feel like when... I feel like I look in a hot girl and she just... Bert's listener, please.

The man name have a new building. The thing set up right. Taxi not stop. And big up JMMB, a listed company that financed that. It's out by the front. Yeah. JMMB is responsible for that. Big up team JMMB. Yeah company that financed that, it's out by the front. Yeah, JMMB is responsible for that. Ah, big up team JMMB.

As we mentioned, Kouameh Tappan. Big up Kerry. We have some good people over there. Big up Kerry. Yeah, big up Kerry, big up Kerry, big up Kerry. Enough maximum respect to Kerry. Shout out to Kerry for showing a professional way to handle client dissent, right?

Cause I will be honest, I have given JMMB a rough time over the years deservedly so now i'm never a bad man or anything i mean i've owned jmb shows i'm a jmb showholder currently they had a great apo we should have mentioned that they raised a crap load of money this year a lot of raising up since then so yeah and it has priced up significantly since then and 38 and then 40 something dollars now so if that's all you bought you're already making money look at that it's a year of people making money i like that um we'll pick up jmb for handling a vocal a vocal disgruntled client and i'm talking about myself very very well coming in and being upfront and saying yeah we have issues we're not trying to hide it we're not trying to silence you

this is what we're trying to do we know this is good we know this is bad we're trying to work we're trying to fix it end result we've had two good episodes with them i'd like to have carry back on i've told her carry actually guys you don't know carry has a whole heap of history in the industry because she's been in industry for long enough she has a lot of experience so i want to have an episode this year with her on it where she can just share a lot of what she's seen it transform because i mean you guys love krie yeah and people do love yeah yeah yeah yeah yeah and and carrie carrie is is i have like then i know it's gonna talk off here every time i think we talk about her i think i really respect her because she's so good at what she does and people

don't know she's very subtle that's how you know somebody's good and they don't have to shout it so shout out to jm and before that and shout out to carrie herself uh so that was my thing then you can tell us how excited more money more money yeah i want to make more games next year i want again i want to beat my return number this year i don't think i'll be tweeting in the same way because if i beat my salary this year it's not going to be much harder it's going to be much easier for me to beat the salary next year it's in a good return on that salary on that money so i'm not sure that i'll be making that tweet it's almost pointless yeah yeah so but plan to make a good amount of money from the market uh plan to probably do more stuff related to the market but yeah i'll make more money than he

made this year definitely so i'm really looking forward to that one i see a lot of opportunities on the market other companies where you're coming to a lot of money next year so work with that yeah i like that i had the opportunity to to help not just to grow but a lot of charity a lot of young people a lot of people never know nothing about it that is what i love yeah i i said randy's more try but try to be than i am but not definitely but i see myself no more i used to speak about stocks. I used to just randomly in the office me and who about that but I get more now. I'm more now willing to speak to people who don't know a lot. They're willing to listen because I know how that goes sometimes. But yeah so I'm willing to speak to more people because I'm on this podcast about stocks and

getting into it. Get into investing in general. It doesn't have to be stocks. There's a lot of investment. Exactly. A question that we a question that we get makes sense for your goals then yeah everything it's not just stocks that's what we like no but if tomorrow stocks start being hot and bonds start being great yeah if somebody if bonds start being hot and chicken patties the hottest thing oh wow don't say patty shop no i don't want this nobody I'm gonna wrap it there because I know we have given you guys a nice one

and Bam has been very very very very kind to us this year big up Bam Bam give us a platform if you thought this if you thought this year was good

next year is going to be the year of professional earning season all year guys yeah look out 52 episodes I hope we can make it

not promising but I'm hoping yeah one a week let's go thank you guys thank you for a good year we're not signing off the year

or maybe we are who knows I don't know when we'll drop this but thank you thank you thank you very much from me

I'm at RTU alright thank you guys I'm Danai at H Danai best of and this has been earning season boom

alright cool And this has been Earnings Season. Boom. All right, cool. Thank you.