Earnings Season - 26 - Teas And Tangents

Episode Date: February 6, 2020

This week on Earnings Season @HDanhai & I (🤣) get into the market. We dive into the notices from Jamaica Teas ($JAMT.ja), QWI Investments ($QWI.ja) and the coming Barita ($BIL.ja) possibilities. @RTRowe tells a bit about his drives and manages to avoid Watch Talk for another episode. @HDanhai gives Mayberry another free ad and we clear up a whole lot that isn't the new Highway IPO. Come for the gems, leave on a tangent? Enjoy! Contact Us Here 📧 [e-mail] Follow us on Twitter here 📱 www.twitter.com/Earnings_Season 🔗Links🔗 $JAMT.ja's Notice - http://bit.ly/399IAce $QWI.ja's Notice - http://bit.ly/2OzA2Ui Simon's Advisor Thread - http://bit.ly/3bfyZCB Marc's Barita Thread - http://bit.ly/3bdVYOx Stock Dashboard - www.everymickle.com/sdash The Little Prince - https://amzn.to/2H1c5B3 Johnathon Livingston Seagull - https://amzn.to/2vUadI1 IWC Pilot Watch - http://bit.ly/383zqhd JTrader Fix Link - http://bit.ly/2S0nabU JSE First Official Trade Tweet (Source 👉🏾) - http://bit.ly/31s34KL JSE Brochure Link - http://bit.ly/2OLjM2H Sagicor Select Fund's IPO Overview - http://bit.ly/SSFIPOJA Sygnus IPO Prospectus - http://bit.ly/2YDDJfm QWI's NAV Tracker - http://qwiinvestments.com/net-asset-value/ GK's Key Takeover Offer - http://bit.ly/2RGayGz 🔊Shout Outs🔊 @guruintraining_, @5Solae, @kalilahrey , @CallTyrone_W, @marcgayle, @WarrenBuffett, @mannishwaata ★ Support this podcast ★

Hi guys, earning season again. I'm Randy at RTURO. And I'm Danai at HDanai. We're giving you guys a nice quick one this week. Topical, Danai. Where do we begin this week? Early shout shout out Have anybody got a shout out? Early shout out I've been giving out A lot of shout outs Yeah But We're going to bridge it again Jeremy

So talk to him again this week Based on our shout out We gave him that So you can I think you really appreciated it Yeah well big up Jeremy For that Big up

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Big up Big up Big up Big up Big up Big up Big up Big up Big up Big up Big up Big up Big up Big up Big up praise yeah yeah you really don't I've been the trouble maker I was I was talking some guys this week and they were talking about the conversation we had mm-hmm I know that boy advisor actually I said brother many of the

poster and things I know where you're thinking in that different level from the rest of people in the industry. For being an advisor, more research and everything, I'm looking to invest in himself, whatever. So I think that's a good start where he is. I don't know. I knew, I already talked to him more than so I already know what to do. I don't know much about his investing or whatever at this point.

But if you bring pics to me, I'm going to talk to him. But he was saying boy advisors brother it's not about you it's a generalization we've said before

we know people say them start an advisor we go brown all the time all the time people hear us we go brown we go five soleil and it's a mandatory shout out

we've had although Kwame is not in that field but we've had Kwame on the JMB episode explaining. And investor thinking is investor thinking across the board, right? Explaining investor thinking. And Kwame does invest on his own.

And like you mentioned to your brethren, one of the things about him as an advisor is that he actually invests on him. It always does something. I don't mean like put a small. It was even a small. No, so I think a lot of them do that too like they put a small but not

necessarily a lot of thinking behind it just buy something based on whatever is happening here they buy not even regular

they did that one time or so oh to say that they have yeah yeah that's their skin in the game they say

put that little piece and as far as I'm concerned I invest in the market but they don't really invest in the market. But they don't really look at the market as a vehicle for them. Okay,

so they don't see it as a real opportunity. Which is weird. You're telling that people. That's where this engineer is small. Yeah, I get what you're saying.

There's an intent behind it. But for me, I'm going to try to jump out from the intent and say, even that is a start. If somebody's taking a grand out of their pocket

I invest it You have more than a grand If or it's less than a grand You've done the step one I can't not care That means you have at least A brokerage account You put someone into the market

And You know Your next Your next Move is to I would say follow up Start checking on that thing So it's a generalization but guess

what but i see it's majority so yes i'm generalizing but you guys understand what should i think you understand what i'm saying i understand no based on this explanation so yes sure they're advisors the fact i say oh this brother cool where i used to be an advisor a high level advisor now um the fact that that exists that means you know there are good advisors out there I probably don't know them I don't know much but I don't think majority of the people in the industry are most use toothpaste I'm not gonna show to Simon for having a thread Simon at a thread oh yeah speaking about advisors and people again experience and I but for having a thread. Simon had a thread.

Speaking about advisors and people getting the experience under it, but they're also... Well, the point of the thread is that I'm shouting out the thread and I'll link it, but it was to say, if you have had good experiences with an advisor, show them out and give their contact if they can. And people have done that. I've done that once. Once. Only have I ever given an

advisory contact. It was at the end of my Select F review on everymickle.com and it's still there. So people, if you want to see that person, that person might be able

to help you. I don't know if she does date. I think, I believe she does. I did ask, I think I asked her from before. So you guys can go on there. That's some homework for you.

Go on everymickle.com, find my Select F review, my Sajikor Select F review prospectus overview, and read that because it's a good idea. It helps you understand what Select F is. It explains it very well, what they do and what to expect from them. And it also has an advisor link at the end. That's the only time I think I've ever publicly done that.

I don't generally post it publicly, but have people i recommend i used to recommend germaine currently they have a friend that i recommend she's really good customer service uh which is key in the advisor space but that's what sells me not for me personally i don't look at an advisor for any true advice so it's really just what what you can make sure my transactions are done on time and my money started when it went to start cool so i said and she's really good with that so i've recommended her i haven't spoke to her much about investing her time very much but yeah i know that she's very customer service i have recommended her currently so if you have that million give her a contact or Or the other way. Have we ever said on here how to get a Mayberry account?

I feel like I've said it multiple times. I won't repeat it. When I just joined, I think it was a different mentality around it. Because it was a sneak and get a Mayberry account. I mean, I know. It's not sneaking it's not it's just that's part of the process part of the process during an ipo they will open you can open a memory account just call me the kis information and they'll open the account for you during but sorry to cut you just during uh mayberry bro my brocott ipo yeah during an ipo

where maybe there's a minimum investment for I I won't be very clear it's doing an IPO where maybe is the lead brokers on that IPO document on that prospectus it should say at the bottom on the front page something about being brought by maybe investments limited that's right when you're feeling the form of the type you're yeah I thought the advice on daily mission definitely we do that you know how many Mayberry free ads have you brought on to this show sir oh god oh for you making that paycheck oh you're right you're right you're right oh my lord the total's in charge of marketing. Tell him to link me, please.

I'll link them. I'll link them. It's on the page, sir. It's on the page. Yeah. Oh, God. You know what? I should make it faster.

Guys, go out. If you're going to get a Mayberry account anytime after hearing this. Oh, yeah, yeah, yeah, yeah. Tell them. Tell them. You heard about them from Earnings Season. Use that code for a free good service account. It's not free. It is not free. It's not free, but it's good service. Yeah, but once you meet that code for a free good service I hope it is not free it is not free it's not free yeah but once you meet the requirement it is good service I will say that I am a Mayberry cause

you hear me joining on the ad now tell them you got sent by earnings season the guys on that earnings season sent you please yeah matter of fact if you own any brokerage account tell them that and I'm asked what at you let them know well you know it's funny um the mayberry prestige i think it's there now and i think when i when i just joined definitely well i keep doing that because i have a different lens at the time because you did come from a different just go i never know what the hell is going on but everybody wanted i mean once wanted a mayberry account and a big goal for other people. I start at over a million dollars. But the moment I get a million dollars, I know qualify.

And I'm going to open a member account with a million dollars. That was goals and is a goal for people. To have a member account. I guess it signifies something. I'm a millionaire now. I never even thought of that. You're being part of the club now. It's like, oh cool. I'm a millionaire no so I never thought of that it's part of being part of the club no I'm a millionaire investor no time to live yeah why can't not I'm an employee so that's nice I never thought of it that way but I got

a cone I became an employee yeah that's right no there was no no they're paying you all right so I think you about all the feedback people whenever they're new always it's there is a little bit of a learning curve for our podcast right um and i that is deliberate because i want people to get used to the idea of of you putting a little bit of work and the reward is so much better right that's why it's not always a little bit of work for you you're always better about getting something when you put in work for it and two that reward that bit of work will help to a lot of work in the future it brandy and i not gonna be the ones to give the place out time or whatever but guess what

when you reach a point where you can be you don't need any and then the conversation becomes different for you the conversation becomes more fruitful for you. There are some people out there who really like the show and really get what we're doing. And sometimes the conversations with those people are great because they understand. You understand why we're doing what we're doing and what we're doing.

For me, it's to have people have these conversations and get, well, in this case, because it's very specific people have these conversations and get, well in this case because it's very specific, get our methods and my methods of how I invest. You know, how much we value

other inputs in the sense of, I can talk to Randy and Randy's point of view and it can make sense. My thing, I can have someone make sense.

At the end of the day, I have to decide which one makes more sense. My thing or Randy's thing in terms of speculation or whatever. If there are more people in the market

that think at a certain level, then I can get his point of view and then it might be more valid than mine and then have a better point of view. So if I can foster

everywhere else a certain level of learning or thinking in the industry, I'll always have a better reference. If I'm the best reference for whatever play I'm looking at, then somebody else

could be the best reference and I can talk to them about it. What we do for each other, basically. But, yeah, as iron sharpens iron. One of the things

we do on the show is we do a lot of reviews of if something interesting happened in the market this week. So this is me doing the intro that we should have done at the top we do it whenever that was the whole point of the putting in the work so if you guys listen to us meander around a while ago you'd have actually maybe gotten some good input or maybe a board but here's a good

um so since the last spoke a few things happen oh yeah yeah man moving into earning season yes we are moving into the earning season yeah wow more things are going to keep happening yeah yeah more results

coming out more notices more notices which one do you want to take I have two things in front of me two things

pick one on the series I'll take Barita because I was looking a bit out of mind what happened with Barita

I thought we were going first oh yeah the other thing then Is Jamaica Tees One of my favourite companies Big up Big up

My big up is To Jamaica Tees Is run by John Jackson Who is I believe Chairman And the CEO Or the managing director

Is the other one John Maffood John Maffood And the majority owner also Yeah Who built a hell of a company Yeah And did it Those Maffood John Maffood Yeah And the majority owner also Yeah Who built a hell of a company Yeah And he did it

Those Maffoods did well for themselves Yes Yeah yeah yeah boy Trust me Trust me Trust me And he He built a company

In a way that At the time Like it's easy to think of now But when he came to market That was nothing that companies did He went to the public for money Yeah And he has always

At least Since I've been a shareholder paying attention to them since ipo that they have always utilized the things that the market offers oh yes yes mechanisms yeah they believe in the market the way it should be believed in yeah yeah the market really makes that's perfect that's what finance is interesting for me because the things they can do with the whole equity game and even the loans game. Yeah. All the financing

comes into everything. Perfect. And they did it really well. So, and they still continue to. So, on January 31st, I mean,

when you say they're really a group of companies, yeah? Yeah, at this point, they're a group of companies. And they spun off. It's always funny.

I've tweeted that they're taking a Berkshire step Like we're Becoming more than Just the manufacturer We're going into Investments They're trying to

Become a big Like a conglomerate Pretty much And they They've showed What they are Yeah But you know

What I mean At the big levels But they're doing That too Because they do That rule That unspoken rule Well it is spoken Where you treat a big company like it's a small company you treat a small company like it's a big company so no matter what level they're on they act in the

same way they send out a notice of their agm way ahead of time i like that as per the rules that they follow um and it had a bunch of things in there i will summarize them one they want to approve their audited financials boring to the day they want to I said boring and people might get excited that's not boring I'm just mean it's a regular they want to declare that the dividends paid last year are approved and the full dividends for last year and they want to approve they want to declare a capital distribution, funny wording again, capital distribution of three cents per share paid on the 20th of December 2019

as the final, standing to the credit of the company's capital reserves for the year ending 30th of September 2019. Again, boring stuff. I didn't realize that I'd said that already. The point is that they want to lock down the capital distributions done last year

and have them get shareholder approval. This is jam tea with both. Same thing, right? It really is the same thing though. Yes. But this is officially from Jamaica Tees.

They're doing the rotation of the directors. To what I'm coming off. John Mafood and Marcus W. But they're going back on. And they're going back on. So that's the rotation. Pretty much. That's why I said boring.

This is standard. Standard stuff. Or unless we're. Trying to drop a message. Point five is where it gets interesting. Yeah. I would say maybe it's the thing that maybe we're over. Because we're still used to it.

We're leaving new people behind. But be honest this is pretty standard there are a lot of there are a lot of check notices on basically we have a lot of those type of things there yeah anytime you want to know if something is unusual just go and just check for that thing in the past you want to know if an annual report always looks like this you want to check another company's annual report from before yeah yeah if you want to know what happened with that stock split just google when the last stock split happened on the JSC JSC stock split

Jamaica stock split so that's what I do a lot of but yeah I'm doing this because as boring as it might be for me I try to make sure

to send new people when they have the question they know that okay this isn't necessarily unusual or weird just like when people see a lot of especially for Jante's

the director's buying back and there's a notice of them buying and selling yeah because these guys buy and sell it all the time yeah every for one day remember that time when the directors were selling no right before the qwi um yeah ipo yeah they were selling those i benefit having jam t shares and these guys were selling nonetheless and people are wondering what i noticed jam t-shirts and these guys were selling under like what the hell and people are wondering me too i think we said it yeah definitely said it more than one episode i was messing my timeline on what i was thinking and that happens a lot your timeline you are specific timeline what's going yeah i just yeah it'll make sense if i know what's going on and that was the issue that was bugging

me what's going on and that's so funny it's I think one of the greatest splits between us and most of the other people that we talk to investing is how important timelines are for us

yeah and everybody says no and no it's all the same blah blah blah but like I know the things I've been saying for years

I know the things I've seen it's just we're the only people I know talking about timelines being so important yeah timelines are very very good in fact I was talking to timelines being so important. Yeah, timelines are very, very good. In fact, I was talking to a friend the other night, and it just came up in conversation,

and it occurred to me that I classify people in terms of, like investors, I classify them in terms of how long they're able, how far ahead they're able to look accurately, safely. It's like I said to her that she's a three-year master to me, in my mind. I said, well, I'll do it here. Obviously, I don't think you're a three-year master. You're way ahead. But it's a three-year master. The question to her was, I said, okay, how much do you think we were talking about qwi also in that conversation so i said to her do you think

qwi will be worth more than 87 cents in 2023 do you think it'll be worth at least 50 percent more than 89 cents or 90 cents per share in 2023 yeah Yeah, of course. That's cool. Tell me another company you think could be worth at least 50% more in 2023. I can ask you that. Tell me a company you think could be worth, well, it's you. Tell me a company you think could be worth 100% more in 2023.

I want to say Lab. I hate to have a question. Yeah, because it's so easy. Let's keep out our troubles. Pick something else. I want to say lab I hate I hate to have a question Yeah No but Because it's so easy But yeah Lab Let's keep out our troubles Pick something else Something else

Jam tea Ooh Ooh How much is jam tea right now? Oh that's the issue Yeah it was 100% no from today So we're doing this We're doing this early February

February 2nd That's when we're recording this. And I think Jamaica Tees, as of today, is at a share price. You know the share price would be great if you came with it to save me this time. Is our bot still working? Does what? Our bot. I don't think it works anymore.

I think it has to be edited. I'm talking to the coder about that. It has to be. The JSU adding JND to everything broke. Yeah, I saw your sheet. Yeah. Yeah, yeah. And you know, actually,

I have updates that I might drop too. Look out for that. It's a holy pass. Somebody be listening to the podcast and say, am I holding the way to track my thing there? I say, Randy's sheet is there. I get asked that all the time. Yeah, how way to track my Things I say Randy Sheets is there I get asked that all the time How do I track my gains

Is there a way for me to track my portfolio Guys go to everyminkle.com And click dashboard at the top Or everyminkle.com Slash S D A S H S dash Stock dashboard literally It's there there all the time

I think the last update was in December and I mean you need Excel 2010 to run it you're going to if you're doing something that it asks you for a password you don't need to be doing that thing exactly is that when they try to edit something if you're not if it's one of the things that is not supposed to be edited

it pops up with a password. That's why they messaged me asking for the password. I'm not giving you the password. Not that I don't want to share it with you guys or anything like that. If you go back versions, well, the people who know that file from early used to be open. The problem is now a lot,

hundreds of people use the file. And a lot of the DMs I get are people, I can't play IT support for that many people. So I locked down things so that they can't mess with it. So that, yeah, just the price you need to do. You just need to put in the stocks you buy and how much you actually pay for them. People ask about fees all the time.

What you have there is a little bit of my personal philosophy. The fees are included in the overall price, so I include the fees in my share price. Whatever you spend. So you put what your actual spend is. So if you buy lab for 298 you actually bought lab shares for 298 plus whatever your brokerage fees and your jsc fees blah blah blah and that final number just put that final number in and it will spit out something so maybe i'm saying yo i buy

for 298 but your sheets i get it for 301 that's because you really spend 301 per share yeah so the sheet does that but if you don't like that i mean you can do your own sheet and maybe not include the fees and oh yeah you can just not include the fees and it's not not tracking money really yeah not exactly not track your actual money just track the the stated yeah i'm sure there's that there's a word for that kind of game oh well um i don't remember how we got to that oh janty you're checking that janty share price yes so in in you want to jam t1 your 2023 that really is easy yeah so i think of people in that in that in that space and don't get me wrong that's not a light thing that's not an insult at all and i'm

sure some people might think that as an insult it's not an insult at all it's that it says that in but you know the funny thing thing, the rule in finance, which is funny, let's go back to... So this is real risk. When you take a bond, bonds are more risky the longer you hold them.

The longer the period of maturity, you consider it more risky because anything can happen. And that's a part of why I don't like that type of thing because the amount of adjustment you'll probably have to make

over the time. So I'm going to predict something in five years because i look great today something might just happen yeah company and then in that five years 50 person getting gone five i'm five years on a loss yeah those people holding those barbados bonds 10 years ago were feeling very happy so things like that so if you're predicting the shorter term i think you're more your pride you're cutting out that risk of maybe some way going around during that long the longer it takes to predict the more time you get for something to go around something right too but that's not what you have to risk good so that's my thinking it makes sense to me like oh cool i know that this can happen in three months and the things that can mess it up to happen in three months they might not be there they might not come in month four they might right or if we do like something

you said in another episode is you don't look at things from the negative from what the best that could happen yeah yeah which is how we look at like active positive profit events. Nobody makes a plan thinking, all right, so somebody is going to buy into a new business. So we acquire this company. The thought is, what the hell can this company do for me? It's not, if I acquire this, the things that can go wrong are da-da-da-da-da,

even though I can get this benefit never mind yeah it's it's more i'm buying this for it to do something yeah yeah funny that's kind of like key and grace right because key was really terrible up to about last november they're really facing it i mean if you look at just numbers they're're still pretty terrible. Yeah. Yeah, yeah. I mean, they're going through it. And there was a plan to fix it and so on. But at the end of the day, they're still going through it. You know, the next speculation is, now people are coming to me with, it's how will they capitalize? Yeah, just, okay. Like, okay, so how will he capitalize?

How will Grace say they intend to capitalize? They intend to capitalize. he capitalized? No, how will Grace say they intend to capitalize on it? They intend to

capitalize on it. So, you know, I think they're alone. And it's for you to think about which one

we're saying to it. So, they're thinking about whether or not there's some benefit there.

So, you and I have been talking off-air about what I call first-order

and second-order thinking and third-order thinking and so on. I get the interest in the conversation about how will they capitalize.

Cool. So what? Yeah. So what are we doing? Exactly. So the thing is, it's also that, but then it's not...

Linked to any action? Exactly. How can I benefit? How can I avoid whatever? It's not... It's really just... It's like we talk about the next week,

Game of Thrones. Yeah. It's a point of exercise just it's like we talk about the next week game of thrones yeah yeah thought exercise that it's a point of exercise i'd like to say don't really unless you're thinking of what you will be doing in that situation and not not just why if that's what i'm gonna do it's not think about full steps on how you can make money and how you can yeah trying to as close how much money they actually make otherwise what's the point but at that exact point there think about how you're going to this thing that we're looking at

is there any way that I can make money from it hope so whenever people come to me with things I take it for granted that that's a conversation that they have had

with themselves but a lot of times I realise it's just academic conversations I'm here for this money G I'm here for this times I'm realizing it's just academic conversations I'm here for this money G I'm here for this bread I'm here

I'm here I'm here to make it I talk about it because I do it I talk about it the way somebody like you know the guy that

the guy that cut grass for a living talk to you about how he can cut grass faster better more efficiently

yeah I mean I love it don't get me wrong. I love it. You hear Shoto Ryan again. You hear Ryan talk about like, you know, you love it. Do it.

It's a true passion for him. He tweeted, he made a tweet or something that I always talk about. He wasn't the one who tweeted it. He answered the tweet in the same way that I would have answered it. The question was, what would you be doing now if you didn't have if money was not

worry I said question about you I think you might have heard me I said back in the day in the group to when I asked people I time seen if money was that an issue what would you do the idea behind that is that it's supposed to help you find a little bit of your true purpose so imagine you had a magical but not every day president 1 million US appear what would you do and the first answer lots of people come with it you want to travel and i've learned very early travel is not the answer i know you have the same answer as me yeah well my hand well i saw him doing now yeah yeah this is what i'm doing now my first time so no no when i got

i used to get a question i've come a long way knowing what I want to be in my life. But I would say, if I get that money, my first thought is, imagine all those things that I thought can't be done in finance or whatever. It's always acquisition and buying companies. My first thought, trade. I'm going to do those things. How can I do these things? Buy this company and do these gymnastics. gymnastics and he looks on that type of cool that's cool that's for me imagine that you have all the money in the world

and you spend more money well that's the people have all the money in the world that's that's what I see it's not about the money yeah but it's not it's about what you want to do it's about what I want we do this and most of it is not about the money how much money are you pulling off your portfolio you can't because it's dry powder exactly yeah the money is done uh we had this issue other day who were talking about a shared hobby not even having really yet because because of what is happening because of this same issue so it's a shared shared it's a shared love so we really like watches

we've been getting we've been getting watches we're happy on a day I'm going to do this conversation on this podcast he's going to get us in a whole heap of headache

it's too expensive exactly I can't afford it I can't afford it and that's the issue so we're looking at so you made you made some money

you saw a watch you could buy and then we sat and watched it for weeks oh god and the watch sold out and the other one we like and then it just sold then we sat and watched it for weeks. Oh God. And they watched so long and they just do it because

we realized yo, we're not necessarily doing this for or want to afford this other thing. So it's not a lot of it is

because I like doing it. Like just doing it. You can't do it otherwise. You can't do it otherwise. You can't do it long term otherwise. Yeah. For me, it's so funny. My answer to that is it's also a very personal question because i like doing it yeah you can't do it otherwise you can't do it long term otherwise yeah for me it's so funny and my answer to that is it's also a very personal question so you know it's uh i would be doing exactly what i'm doing now the point is that what i'm doing now a lot of

it's not what a lot of people think i'm doing now it's like you know a little bit more what i'm what is i would spend my day day doing what I first came across this question when I was working at 9 to 5. Really great job. Between 8 and 2 books I read

I think I started asking myself that question too much during that time and I read those same books all at the same time

and I just quit. It's just like because it leads to kind of like a lion's story. Kind of like a lion's story. Yeah, in some ways, like,

it's, that's why, that's why I, one of the books is, I'm going to butcher it, Lepetit Prawn, The Little Prince, which is a children's book,

it's not a children's book. I was watching a movie the other day, yesterday, and we were going back to it, oh, that's a movie that

randomly ran into this job. Oh God, yeah, it's a terrible book. That and, and Jonathan Livingston Seagull which I mean

it's crap these are they're not crap and they're not self-help books or anything like that but yeah there's something

to them they're something they're dangerous books but you guys anybody listening should read them Jonathan Livingston

Seagull is you can read it in 45 minutes it's not very long Little Prince almost the same thing

not very long very interesting stories for both of them too little prince especially because iwc have that little prince pilot face and when i was saying that's what i was thinking about i was thinking about your watch it's like 45 000 i think how much is it i didn't want i didn't want to check i always i always make myself forget make sure you know one day you're getting a watch i have to i saw it i have to i have to but yeah but it was going to happen though you can do the same with it last time you get made the money you look at it and you look at it and you look at it no man i'll buy it i believe in spending the money i believe in enjoying it i just know that you have the same thing but boy you ever complain about things i can't afford yeah that's what i think you have to spend so much money you

have to feel the money that you make to enjoy it so i i do believe in that but i do want to like everybody should ask themselves that question what would you do if you had if money was an issue because then you know what you really want to do and a large part of what i want to do like i help people and educate and all of that is like that's more it helps you to see that at the end of the day it's not the money that counts it's what you do with your time because that is the thing I hate saying it because it's Kanye West that said it no geez

not that long before he was saying that rubbish he said there was this old interview with him saying something about the fact that

time is really the only true resource because the one thing that we can't we don't know how much time we have you can't get it back everything goes after

everything yeah there's a big deal with Kobe the Kobe oh yo you know it's weird it's a basketball fan mm-hmm but that I've been saying to other people around me that they hit me in a weird way cuz that's one of it that's that somebody would see man touchable just by general life and where he's now he reached where more each other was I don't have him reach a more important yeah he's retired and he has a lot of money and he can do a lot of and he had time and he had been doing a lot of business level stuff yeah yeah and so i was thinking

he made me think of myself i think that was lucky me because i know yeah and even see me share the quote with you and we were talking about oh with the video yeah yes yeah you give me a whole thing so you won't see me sitting down and thinking about like i'm not the type where i sit down and what kobe is doing whatever i hear i was a death of somebody that's a celebrity i don't know about this person more than so and then you wouldn't see me like that yeah i think probably one of the first time i see everything that hit me like that i was like whoa i keep thinking about it yeah we're talking about this here and that's not something that i do yeah that's not my thing yeah but what was key to it is that it showed that yo you never know when it's

your time all right so you time yeah because the time is the most important thing right because it's not like you can say you must slum in it and something's always here you. It's something we always hear about. Exactly. It's like everybody says. You don't have to do the time. You don't have to do the time thing there. You don't hold on your half. We all say it. We all say it. Until you reach it.

Until you reach it in a certain way. So that's the first, I don't think it's the first time. No, it's not the first time. But it's the first removed situation where I get up and say, oh, John, that person is

dead and whatever and now how it really is i think because i can relate to the person that will i get you i get you and what what it means you know especially coming up in jamaica jamaica i don't have to tell the jamaicans what jamaica is yeah we know it's you think you know one of the things you get money you try to live safer you try to live better you try to get healthier you try to protect yourself more but I mean you get really rich

you want to be on the helicopter right and you want yeah so you want you want to enjoy the money and this is just that is a side effect

of the helicopter thing you can never get away from it I think that's the point and then if no matter how rich you get time is the issue we've spoken about that before

we have the videos of Bill Gates talk about it Warren Buffet talk about it it's time it's the most important thing dally or dally or talk about it it's a big deal time because it's the one more of it and you can't say you have to utilize what you have the best and so that's i, why it feeds back into investing where we think in timelines. We think, yo, I have to be making the best for myself no matter what amount of time I have left. Because I don't know how much time I have left. So I have to plan that it's going to be very long, but it might also be very short. And at any point in time, along that timeline, I should be satisfied and happy with a certain part of it.

That doesn't mean I'm going to be not hungry and looking, but I should think, am I doing all that I can or most that I can? Am I working at doing the best that I can? And that permeates everything. And obviously, they have to permeate how you interact.

And that's what I put in shape. It really hits that procrastination when you're doing something. Boy, I can't say that. I'd like to say it, thing and i'm obviously then have to permeate how you and that's what puts the mind in shape procrastination when you're doing something yeah boy i can't say that i'd like to say but yeah it's true it makes you aware of it yes yeah i was going to say you know it's the same for me yeah yeah yeah yeah you can find yourself doing something else very deeply also but it's just not along the main line of what you wanted to do but exactly exactly um and make sure everything that you make your main thing is actually enjoyable enjoyable well that was a hell of a tangent yeah my head i was thinking for a whole valley that has nothing to do with janty right what janty did have however because it was a share

price you're supposed to get and would you believe that even though it still hasn't loaded no it has loaded for me finally jamie jamie's share price is six dollars and 67 cents right now so the question to you while we're going way back let me just refresh everybody memory the idea was how i think of people in terms of timelines so that's why we got onto that and i was saying my friend i was talking to i said to her that you know she's usually a three-year master i think she's even think she's like even a one-year master, but a three-year master. And the idea is 2023, which company would be 100% higher? And you said Jamty. So Jamty is $6.67, right?

No, as of today, it ended January. That finally, January is done. Wow. And you're thinking that at the end of, or they said end of January 2023, is done well and you're thinking that at the end of when i said end of january 2023 it would be 13 and 34 cents or some equivalent of that easily what happened again by the way oh yeah you did yeah well jesus interrupt me i don't mind um for the people who said that we talk over each other or talk about and I'm sorry guys It's how we talk sometimes Yeah

I'm not shouting him down I'm not stopping him from talking He's not stopping me We're not cutting each other off We just talk like that sometimes I'm sorry Yeah we're both working You see us on a tangent

Yeah I understand Always go to the next point The next point The next point Yeah we're like that It's natural I'm sorry

So $13.34 You think in two years Easily I mean I kind So $13.34, you think, in two years easily. I mean, I kind of disagree with that, right? So I think in terms of timelines that way, and if you bring it down shorter, obviously, like the better you are to shorter it gets. If you didn't pick that up before, that's the idea. So the better you are is a shorter amount of time in which you think you can pick games. But you and I have had conversations about the Q during the day.

So we, so obviously, so we know, we know, yeah, we've made money within the day and everybody has.

Yeah. The idea is to be able to repeat it and do it deliberately and that's the way and we do expect a lot of people to do that.

So don't think that if you can't do that you shouldn't be listening to this. We try to cater to everybody. I'm also not saying that you should be trying to do that.

Key point. Yeah, it's not for everyone. If you're not comfortable with that, you shouldn't be listening to this we try to cater to everybody also not saying that you should be trying to do that key point yeah it's not for everyone you should not come to me i can lose whatever money i'm sure i don't do it yeah yeah you should be doing it i mean we we enjoy investing everything from the unit trust to to you trusting yourself and doing it on your own that's so corny it's brought to you by me back to jamty jamty though so jamty's actual points that they put over there because look at jesus christ wow tangents tangents to miss me and say you guys basically we're going off a pendant yeah that's the point but i couldn't call the show tangents the tangents brought to you by the jays no god so point five of jmt's thing uh they want to approve remuneration to the director directors and passive thought the following resolution i'm reading this one because it's important that the amount shown in the audited financial statements for the year

is hereby approved i read it that was i'm going to cut the whole of that i'm going to jump sorry guys i'm jumping because it is actually but we're going to jump to what we consider to be the the meat of the matter which is 0.7 the last one is where everything started to get interesting right so it says i'll start it off as special business to consider and if the outfit pass the following as ordinary resolutions. So before I get into this small tangent, what is useful, the things that they're asking to do with the company, part of being a listed company is that some things have to be passed at an AGM. They have to be voted on by shareholders. Each share is one vote. Can't tell that.

Not each person. In some cases, in some respects there is a person rule at certain meetings right but i won't get too deep into it but for rule of thumb you can always remember each share equals one vote which means that if i have 10 shares i have 10 votes for the most part again they're exceptions don't if you're really interested you can look it up yeah if you're actually over there yeah and and look it up Yeah And certain things Have to be done At an AGM

Or a special General meeting But this is an annual General meeting So they're having Some special business here And so they're putting it forward Of course

I'm saying that thing About each share Equal one vote Because you know If John Jackson Is going to be there If If

John Mafood Also is going to be there That's already the majority Of the shares in the company So if they vote on anything, chances are it will happen. Unless it's going to be raised their hand. Yes, and in those cases, it's difficult.

It's different, yes. But if you have more shares, you have more talk. That's how it works at the end of the day. Just like any other situation. I'm the most invested here, then I can have the most talk most that they used to pay the bills that they get the biggest piece of chicken yeah yeah i complain i keep my little mouth shut until i can pay the light um so the resolution one they want a resolution to increase their

ordinary shares so they currently have existing authorization for one billion ordinary shares in the company and they want to increase that to any amount they want no maximum all right um boom that's the first thing so in other words they're saying give us the ability to issue any amount of shares at any time as we see fit not really it's more we use abilities to have as much shares as much shares out in public as possible correct and that's a good correction also because what i said was more and i think i'm a different you are actually 100 correct thank you for that it's it is just saying don't put a cap on how many we can issue not not to give them the ability to do it for any reason that's true although was that not another notice earlier?

I think that some company had a notice of that sort. No, I think they had that notice when they did QWAI. To give themselves the ability. I could be wrong. People, that's another bit of homework. I like giving you homework because I can't do it all myself. We'll probably correct it later on or you guys will correct it and send it

to us. Always welcome. Earnings underscore season on Twitter if you don't know I know you do if you didn't or either was at RT you and us H than I second resolution that I had they wanted a resolution for split that's to say that issued ordinary shares and the difference between ordinary shares and issue ordinances that they can have like a million they could have a billion ordinary shares but issued but only issue 500 000. so however much is issued is what we consider the shares on the market that's what you use to control the company so if you own more than 50 percent of that you can you have country

are controlling shareholder in a company um and there are exceptions to that also there are always so many exceptions finance is so beautiful um so each of the ordinary issued share capitals in a company um and there are exceptions to that also there are always so many exceptions finance is so beautiful um so each of the ordinary issued share capitals in a company shall be subdivided into three ordinary shares with the effect of the closer business on the first of april 2020 resulted in i can't see why people think this is boring i'll say it for you without reading the boring stuff guys pretty much i'm asking for what a three to one stock split on the first of april yeah so if you own jam t shares before the first of of April is that the effective date or the date worry anymore get the record date because I was wondering was that no I already thought this would be the effective bit so record it and X day it must come

before that so it must happen intee is going to be very interesting Between all of February and all of March Somebody else read it as record date And I was like I don't think so No Okay so we agree Record date and so on I believe would precede this Yeah and we talked about different

Talks and split on this date That's all like effective date This is split on this date so everything must precede So so first of april so if you own jam t-shirts before then for every one jam t-shirt you have you will automatically now have three and hold on and that doesn't mean that if the jam t-shirt is one dollar so it was six 67 or it doesn't mean that you'll have three 66 sixty seven shares it means that six sixty seven will be divided by three all right well i said no if you have jam t-shirts by the record date if you're out if you're on the journey share code on this on the record date and at that date then your shares will be switching to three

what i was trying to do not get what you're doing but i was trying to avoid having to explain x date and I forgot it that's cool it's content for another episode oh definitely I don't want somebody to say that and then that becomes

the thing that they take from me okay guys so yeah so it means that if you're going to be on record on April 1

no hold on if you in order for you to let me read what it says that each of the issued share ordinary shares in the capital of the company be subdivided into Hold on. In order for you to... Let me read what it says. That each of the issued share, ordinary shares in the capital of the company be subdivided into three ordinary shares

with effect from the close of business on April... So I'm not able to... Every share was split. Yes. So if that's a split date, then... Record date can't come before. That is the date when you must be on record.

In order to... Hold on. Record date is not the same day as the date when you must be on record in order to hold on record date is not the same day as the day when you must be on record so i'm saying you must be on record no record date is the date which you must buy i could be wrong no x date is the day x day x day is the day you buy in order to be on record in order to be on record and record it is at this day if i'm on record on this day my name is under this at any on the trailer is for that day so in this case the record date and and and uh effective they might be the same

when i say effective date i mean date of the effect you know the day when you split it it can be 10 days after the record is what i'm saying it's been it's been done before true no but this sentence says every sugar split as you say it's going to be subdivided but I might not from the close up with effect oh you're saying

that we might they might say yo we're splitting it in September but it's if you were on record from from um

no I'm saying we're splitting on March 1 yeah which one April 1 April 1 yeah

but you have to be on record on March 10 oh snap I get you they could put a date whenever they want so I can buy the shirts sell them because I be on record on march 10 oh snap so i get you they could put the date whenever i can all they're saying is that on april one we're going to have a stock split but we're not telling you when the record date is that's a good catch that's a very good catch so guys if you went through that boring thing just know you understand how we go through because that's a very very very

good catch because i was i really was saying something incorrect true they're just saying that on april 1 is going there's going to be a split we don't say when you need to be recorded you need to be on record oh yes that's so smart that's true good catch you saw i talked to the nine oh guys aren't you glad we share these conversations um so as then i was just saying on april 1st 2020 there's going to be a stock split. People who, hmm, I'm just going to leave it there. Wow, which is exactly what they did. On April 1st, there's going to be a stock split. Now, stock split has another process that we'll get into another day.

That's a very interesting point, Danai. Thank you for that. The third resolution that they want is that they want to grant share options. Thank you for that. The third resolution that they want is that they want to grant share options. They're saying here that they want 56 million shares in Jamty to be set aside as part of a stock option plan for senior executives and directors. And they're going to be issued between the 30th of June 2020 and the 30th of June 2025. In other words, they're putting in a five-year plan.

So I think every five years they'll renew it. And the idea behind it is that exercise price will be $10 per share. Before giving effect to the effects of the aforementioned. In other words, I'm saying it's $10 per share. And after we split, it'll be $3.33 per share And anything that happens thereafter They'll continue But I might have also said too much

Because I don't think that's what it says If the split happens Then it will be $3.33 Everything after That's me making an assumption Dangerous in finance 56 million shares To be set aside I'm just calculating how much money that is as of today Assumption dangerous in finance. 56 million shares.

To be set aside, I'm just calculating how much money that is as of today. So that would be, did you do it already? 373 million. 373.52 million. As of today's dollars. Oh, okay. Price. Price, yeah.

This is just the amount. Is it 56 million post split or pre split? Pre split. I use today's price. No, not the price. I want those shares. How much shares will you split? The shares will split post split.

That's what that clause that they put, that form mentioned. All right, great. Because I was on the price. Okay. No. I'll free you probably. So what they're saying, however, is that between now and between the 30th of June 2020 and the 30th of June 2025, directors and people within the company will have a program that allows them to be compensated for any good work they've done by being given the option to buy jam t-shirts at ten dollars per price

the obvious knock-on effect of that then is them saying that listen we expect that between now between between today and the 30th of june 2020 so between the start of February and the end of June we expect our share price to be higher than $10 to the tune that people within our company will be willing to buy at $10 as a as a as a media game media game yeah as something good as a benefit in, as something good, as a benefit. In other words, we expect that,

in other words, okay, so it's $6.67 now, let me try and make it dead simple, $6.67 now, if it was $60.67 instead, I would be very happy to get it for $10, right?

So we're thinking that the price must be above $10 to the tune where somebody's going to be happy to get it at $10. So that's giving you an idea of management thinking. But it could also be them thinking that next year it's going to be more than $10 and it will be a good deal then. But maybe it won't be a good deal this year, blah, blah, blah. But I don't think so. I think these guys are on timelines just like us.

They're not on timelines because they have to report every three months, right? The exercise price, that means that the amount that they'll be selling it at will be ten dollars so right now i am going to make the assumption that the directors are saying that they honestly believe that there is going to be more than a 49.9 percent growth in the share price between february one and and and no and the 30th of June I'm going to go assuming that these guys say something's going to happen over the next five months at a point I'm buying I'm buying again yeah that's what they're saying or maybe they just want to keep the price up because they don't want it

they don't want that drop right now we They want to keep the price up and they know that they have a loss to report. A heavy loss. They mentioned it on the report. They did what? They mentioned that QDBi isn't doing. They mentioned that they are down on the portfolio in whatever quarter. In the quarter we're raising. The current quarter.

Which is something that they gave us a little bit of extra information. You heard it here first on the earnings season. We said that's what happened. There's a loss coming. So it might be that they are expecting such a heavy hit because they know of the loss on QWI, assuming that there's a loss on QWI. And assuming that that then hits Jante's books

as a finance loss. Might they then be trying to ensure that the share price stays high long enough for them to register a new game? I don't know. Maybe. Do they care about the share price that much? They're investors. They are investors. That entire team is a team of people that are serious about investment. They are investors. They care about the share price. And they're owners. To me, it's always the owners that don't

think of investment in that way. Most owners don't care about the share price. They care about the share price. It's either when something is tied to my share price or pride. price is either when something is tied to my share price or i like your pride yeah yeah but i don't think it's a pride move this is a lot this this is this looks to me like they think of the share price this looks like me like something is happening and expecting something yeah what jam t have going for them that we know about house yeah

the the man apart thing right now you sell a scheme in manapark that that sell off like hot bread and enough too and i'm sure at the time they might have been thinking whatever price they're thinking two years ago manapark homes cost a lot more now yeah so so they might be looking at some heavy real estate sale based profit they're screwed up with the supermarket fix up the supermarket to pull heavy revenue again yeah qwi is i know i think that i mentioned after this not to just mix two things but yeah qwis is looking like it could have some potential nice to start the the mouth is rising they said they're doing well in the u.s

they've seen some u.s stocks and they're doing well in the US. They've just seen some US stocks and they're doing well. Yeah. So, we shall see. We shall see. Next notice. Next notice is QWI where it gets interesting, right? So, QWI also gave a notice very similar to Jamty's because

QWI is a part of Jamty. And I will skip all the boring stuff and jump to the important in air quotes things they're not paying a dividend for the last financial year they are saying

and I'll start with it six a special business to consider if thought fit passes following as a special resolution that the company QWI be and is hereby And I'll start with it Six A special business To consider if the outfit Passes following As a special resolution That the company QWI

Be and is hereby Authorized to make Open market purchases Of its own shares On such terms And in such manner As the director Shall from time to time

Determine Provided that The maximum price That's Excluding fees Which I mentioned earlier You hear me talk about that You notice the money people Do the very same thing height then count both of them I'm not

saying how to come both of them people want to come both of them but if you don't if you don't the only option is to count if you're doing this thing properly in my view is he going to count actual money spent or you count both of them you can't pay attention to the share price only you have to pay attention to your fees yeah because you actually spend that money anyway the maximum price exclusive of expenses which is the fees uh and taxes which may be paid for each of the shares shall not exceed 85 percent of the nav the net asset value per share at the company's last published by the company at the last time of such purchase I'm sorry I

read that bit at the end there because it was confusing with honest and what they're saying in other words based on whatever the now they're published enough weekly and there's putting in a rule to set out they will buy shares on the open market from time to time as they choose to but their only rule is that they're not going to pay more than 85% of the NAV. So if the price is below 85% of the NAV, then they're allowed to buy it. Share buyback. Share buyback, essentially.

Friend of mine, this was the same conversation I led to this, was asking what that mean, and 85, I think people are confused by the 85. 85% limit is the same thing as a 15% floor. That's all it means. It just means that what they're saying here is we are

reserving the right to buy back shares once it falls below 15%. I don't hear nobody with it. Well, I can't blame them because nobody ever talks about it. The circuit breaker rule is actually 15%. That's when the first circuit breaker

trips. So in other words, at any time that you look at... No, no. It's not price. It went under the 15% bill. It's a no. So you know who we're... Oh, my God. Again, I made a jump.

But, okay. Okay, I was thinking two things, though. That don't knock. That take no money. So in the case where it's trading at now? Yes. Oh, okay. So if we get back to an efficient market status these guys have ensured that anytime the circuit breaker trip we're going to buy so you have a guarantee assume that we have a get back

to efficient market or close at efficient market you have a guarantee that these guys are giving you a 15% hedge yeah you will never lose it it will if it falling below that and hit 15% you are always going to well not always but we are going to be buying and that is us showing so much trust and I cannot knock them because QWI just own shares in other companies

so if you guys are going to give me an opportunity to buy these shares if somebody offered me a 15% discount on NCB shares right now I would take it because it's me a 15% discount on NCV shares right now, I would take it because it's 15%. 15% at QWI level of money is not joke money. So this is in a more efficient market, in a market where QWI trades closer to its NAV,

this is a good guarantee for a big money person because my risk now is okay, and I'm talking people who actually know a little bit about their money, so my risk now is okay if I need to jump out, these guys might very well provide me a liquidity opportunity every time it hits that. Right?

I go on better if you have really big money in QWI. You might maybe bought that 80 cents cents now when it's at 1.50 i'm okay selling it down to the 15 because it's going to circuit breaker and they might come in and buy so i have a liquidity i might not say yo these guys gonna buy at least a million or whatever i'm putting in my heavy sell at that amount and they'll just buy yes to me it look like i'm selling 15 below which i am but i'm also selling up volume so huge that the company is buying it back yeah

i'd have to go find somebody so this again is democratizing the market in a way that people even realize i think about it this way too so you want to determine yeah and i have my 10 000 included by yeah one they're protecting the share price yeah to yes but any sure they get back basically giving the so my they're giving them my share of automatic my share profit is good because below never they buy it below now yes I don't have to always register it as NAV. So you're very likely giving yourself a NAV jump. Yes, automatically.

So thank you for exiting for cheaper than the share price. And causing QWI to get that second and third order right there. Because every time somebody exits, if ever it falls below that, every time people are exiting anywhere near that level and the company is buying it, it is forcing me to make 15% gain right off the bat. I love the genius behind this. It's interesting, man. But in the situation it's in now, which is what you were alluding to, I think. It's the Navi's way, though.

The Navi's way, though. No, no, Navi's. The Navi and the price. There's I think the NAV is way down the NAV is way down no no NAV is the NAV and the price there's a big difference between the NAV and the price better I say that people are thinking I'm talking about something else

and I say the NAV is way down ah yeah yeah yeah I get you I get you so the NAV is 126 127 I think I've been trying to check my dashboard

but I don't actually own any QWI right now the NAV it is at 93 as of January 31 now it is at 93 as of January 31st it closed at 93 cents

I guess the notice spurred things or somebody bought a lot it's at 93 cents and it has a NAV of $1.26 as of January 24th I really would like to see what I guess Monday morning we'll find out what the NAV is $1.26 as of January 24th. I really would like to see what,

well, I guess Monday morning we'll find out what the NAV is. Very interesting to see how it ended January. But yeah, that's... But $1.26... That difference is good, man. At $1.26 versus, what did I say, 93 cents?

Mm-hmm. Versus 93 cents. That's a 35.4, 35.5%... Discount wow it's trading 35 below it's obvious true value um question i get asked all the time why why why why why why is it trading at 126 why is it trading at 35 below i think i thought about this um came out ipo started selling down with and i think they are they try to lump it together with selective safety safety they were thinking that happened and that's what's happening around the company at that time oh you got you went okay I'll take it I'll take it

I've not thought of it before I've not had a response well I said what I said to a lot of my growers sentiment is a huge factor people are expecting

and there's a lot of buzz including me I was happy I'm a jam taxing fan he's coming to market big deal buzz around it in public

this thing where if you're a jam t-shirt holder it's a nice I hope a little buzz around it and then right before it know if you're a jam t-shirt holder it was a nice I hope I look a buzz around it and then right before it dropped

that article came out about human taxes blah blah blah yeah it's funny people did get a point I heard people wouldn't buy shares

on that basis yes quite a few people heard yeah which I don't we've spoken about what our thoughts

on the whole tax thing before yeah and I mean I'll leave things that don't concern me alone. What I will do is say that I think the sentiment there was a bit of...

Affected it, yeah. Affected it. And then, of course, there are always people who jump into any IPO or people who have applied already for any IPO and they're not hearing

what they'd like to hear. They're jumping out. Once the price started to fall, you know how that got. Everybody's selling. And it has dropped and dropped and dropped and dropped i bought um it's weird people had that same mentality for the turnaround so they said all right so the price falling i don't know and then another guy is going to look at it and he's saying all right

by week three panic setting stopped so he think I was right so I can get my appreciation

but the panic setting continues and he joins the panic setting because yeah

everybody is three weeks and I'm going to jump out so that

type of thing has continued yeah even I mean I jumped out oh yeah

yeah me too but you jump out over the understanding that yeah why would i follow it down if i know it's going yeah that's exactly yeah so yeah it's a rational thought at some point yeah and you jump you jump right back in when the good is coming yeah so i know what we're looking at is we're timing or jumping we're timing on the whole market to be honest that's true that's what we're always doing, right?

It's a good time. That's my personal thing. I think it's a good time. I'm tying it back to the point, though, which is that these guys are saying, essentially, that they're buying always, or they're reserving the right to buy once it's below 15% of NAV. And it is currently

93 cents. Like I said, it's below 15% of NAV and it is currently it is currently 93 cents. Like I said, it's at a 35% discounted NAV, so it's definitely within the bounds of what it is that they need to derive. And that means an 85% of NAV currently at 124. By the time you guys hear this,

you'd have had a new NAV, but the NAV we have right now is 124. So 85% 124 we look you why don't you tell me the nice into work to talk already you didn't I wonder and five cents one dollar five cents so they're dead bring back up to a dollar but it's not funny one dollar five cents is still when compared to 93 cents it's still 12.9. That's still a 13% jump right there.

You can make, and $1.05 is not even, it didn't reach IPO yet. A lot of things can happen. That's the same thing with iCreate. I felt so good about that. Big up Tyrone. Tyrone company got to be a casualty. I'm emotional and less trading, though.

I bought it off. Oh, you know, like what was said, blah, blah, blah. I like a lot of the buzz around Tyrone company got to be a casualty of my emotional illustrating though. I bought it off. Oh, you know, like what was said, blah, blah, blah. I like a lot of the buzz around Tyrone. And I'm in it. I'm in it because I want to see what happens for the long haul. So I put a little smile in there. And I've said it here. I think I said it on two episodes.

But that price fly, boy. That price flew. That price flew. I don't know what caused it. But I know he had some big up Khalilah again I know he appeared on Khalilah's day in stock

yeah so I'll link that one too so big up Khalilah for a nice interview there and Tyrone has good interviews Tyrone knows his stuff Tyrone is a businessman

and the fact he knows his numbers he knows his numbers everybody every high level investors they know yo I need founders to know

their number you see you also know the numbers i just you know tell you number straight i forgot revenue and you can see it in his head because the way he says it and i'm telling you why whatever yeah remember the story that the man said is he met the course that you yeah he was part of the first set of people to get into it and man say miss a exam write a business plan yeah i remember about now the ueds but i really believe that story there now and i feel him telling me i feel like that himself i don't i don't know but why is it yeah i like it go back and listen to that episode you have guys yeah it's a really good episode i'll try to understand yeah it's pretty it was pretty good um we've had some we've had some good interviews i like that uh but yeah that

profit came in yeah a little earlier than i expected so what did i do i'm not gonna be a hypocrite i jumped i jumped i got out i got out it's going to it's going to it's going to go right back down to where i bought it at and i'm gonna buy it back in but now i'm gonna buy it back in. But now I'm going to buy it back in. I'm going to be able to buy 15% to 20% more shares with the same amount of money. The same money put in. Yeah, in a couple of weeks. Yeah.

Wow. Damn. Damn. That's a game. But also, at the end of the day, I'm still thinking long term. The original reason why I went in is still there, so I'm still going to go back in. I know I have more. term the original reason why i went in is still there so i'm still going to go back in i know i have more i use a short-term trip to to to fund that even bigger longer term play because in five

years in three years it was a taxi money um finance accrues yes hey wow let's say that clearly so people hear what you said i use the taxi money t-a-x-i t-a-x-i the taxi yeah and finance the cruise that's correct because it's not like you say i use the taxes tax money finance the cruise and that is that that is too hard for me boy and i touching that one boy um but yeah that's i i i got i got i got a good a good jump there and that's what i do you know if i say i'm not here to tell nobody say i'm going in for 20% in one year and I get a 20% in one week.

I know it was one year. I'm taking it to, nobody really wanted 20%. You're like, you want to go in for a year. You never want to go in for 20%. Yeah, but in Tyrone's case,

I am there because I want to see what happens in a few years. I just also saw an opportunity to see what, see 20% more in a few years. Yeah. Yeah, so I'll take it. That's the game.

That's what we do. That's the thing, in other words. That's the actual investing. So there's a lot of terms around. I'm carrying it back to QWI's point. There's a lot of terms around the authority and reasons, like how they're going to be able to buy it And explorations and so on You guys should read it

I'll link that in the show notes also But At the end of the day This is them doing a share buyback And I'll quote Buffett What's this week's Buffett? This week's Buffett On share buybacks

And why he doesn't Because that's what Berkshire Hathaway does Berkshire Hathaway doesn't pay dividends Oh yeah Alrighty Yeah they use They're like They use the They would rather And why he doesn't, because that's what Berkshire Hathaway does. Berkshire Hathaway doesn't pay dividends. Oh, yeah. All right. Yeah, they use, they're like, they use the, they would rather, and he has always said it.

Him and Jamie Diamond is another one that's always said it. He's always said that share buybacks, in his view, provide greater value to the investor than paying you a simple dividend. And I get it. At its core, I can say, we work with the Wanda Live and we work with QWI. And I get it. At its core, I can say, we work with the Wanda Live and we work with QWI. QWI could pay a 15, they could take their money and pay a 15 cent dividend.

Or they could use that 15 cents and buy the asset 15% below. And the second it passed 15, it has now given you more money than the dividend. Because the dividend can ever only be 15%. That's why we like, we understand cash is a position, but cash is also weakness. Because $100 can only ever be $100 less inflation. However, $100 worth of stocks can be anything in the future it can grow

yeah so this is this is literally linked back to the same exact thing so they're doing a bursary hathaway move which is that when the share price reaches a certain level he says if he even his own stock if he sees a train at a discount i like buying such a discount when i'm my own does qw i own any jam t's i don't know i don't remember at the ipo time they didn't i think but they've since i don't know but think about this if i don't qw and jam t separate companies, but they do share some ownership. Now, suppose they were completely separate companies, right? We'll call it RWI. And let's say that I saw the notice from Jamty where the price is at $6.67.

And these guys are saying that as soon as Juneune 2020 june of the same year couple months from now they're expecting ten dollars per share to be considered a discount immediately i would me as my the money manager rw i would especially since jump t is b is what it is and it's b is low look at it and say yo that's a 50 jump they consider what what i consider to be 50% higher in the future, they're considering it to be a discount in five months. These guys must have something coming.

If in the event that QWI then holds Jante shares, that could be looked on, that sign could be looked on as something for money managers to say, yo, even if I fail it in six months, you know, the man didn't plan to keep keeps for five years when my money managers have to think on longer timelines a bigger money so those guys must be sinking say yeah okay so maybe we miss a 50% in five months with this

big money but we have three years to go and this guy same funny next year near out at some point it's going to fly at least 50% for money manager that's huge the entire market in 2019 rose 31% yes a 50% is big for money manager to make maybe then you buy it maybe that's a maybe that's a that's a sign to actually buy you know the guys out there trying to look look for signs and trying to make make some sensible decisions linking different dots different ideas so i'm thinking that maybe the qwi guys could look on it and go hey these dante guys seem to think that they're going to be worth a lot more and we seem to have a link to them i don't know i'm throwing things over in my mind the thing is uh but you don't do that yourself

i don't do it myself in terms of what look at them say oh these guys think maybe you go for a reason why they can be or where they should be versus well i mean i look at it to say sorry what do you mean because obviously in this case i mean they share a lot of ownership so obviously john jackson oh yeah oh yeah yeah um but but it it's it says then to me that imagine if you you're buying your shares back at 35% discount, QWI, plus you're spending some money buying a company that expects to grow 50-odd percent very soon. How do you think that's going to go? That'll be interesting.

Yeah, especially because they own them, right? So it's going to be very, very, very interesting to see how they do it. If it's a QWI owning Jamty, then you understand that somebody's thinking something. Warren Buffett has always stated that share buybacks provide, in his opinion, greater value to the shareholder than simply

paying out the cash as a dividend. That's why he doesn't... What's his name again? Epley? He was buying back their shares all day. Well, they haven't bought it back yet the date is to come okay yeah when they were thinking that when they put all the notice you know that the share price has fallen since then interesting remember i worked it out that you could make a six percent guaranteed on like well you want to the thing is it looks like 38

yeah oh yeah people were rattle people were saying why are they why are you doing so early they just got IPO money in my head though yes I did see that I did wonder the effect have maybe made money since IPO it wasn't a lot of money they were buying other shares they were buying 15 mil worth 15 mil worth at that mil worth. At that size, making $50 million from rent. Spend $15 million in order to boost his share price. And I rent properties. $50 million in that time, at that level. I didn't think it was far-fetched.

And even then, even if some of the IPO money left over, they wouldn't have thought, okay, raise some money from IPO. I have some deals on the table I'm pretty sure I can fund this deal or we spend 15 million dollars here

that was not the I don't think that was the decision they were making I think we have this money and we don't really have to do much with it so let's buy back

some shares yeah well I think the decision was no I go one better these guys are managing a fund they're fund managers Let's buy some shares. Yeah. Well, I think the decision was no. I go one better. These guys are managing a fund.

They're fund managers. Yeah. And they exist. One of the stated purposes for the company is to bring shareholder value. And they're bringing shareholder value. Oh, yeah. If my CEO realizes I can spend 15 mil or I can spend any amount. I don't know if it's 50 mil. It might be 50 mil shares.

But whatever. He says it's 50 million in my head. It might be 50 mil shares. Whatever. It's 50 million. My CEO realizes he can spend 15 million in order to give me a 10, 20% increase in the share price. Go ahead and do it. That's how I do it anyway. Sometimes we just call that 15 million marketing. Sometimes we call it 15 million advertising. Sometimes we call it

15 million fees. And this time I'm calling 15 million fees and with this time call 15 million a share by back but i expect him to do that because he's saying i am seeing the person i'm seeing i'm seeing my company have an opportunity here to make some gains very quickly and i'd like to show it that's what i expected to do i expected to do that you that should have been that was your job before you even became listed you're simply doing your job the company never start with an MLS The company has always existed

And the fiduciary responsibility was always there That is real fiduciary responsibility And that's understanding of real business And real finance Real value When you understand where value actually is in a practical way You understand what people are doing What am I supposed to do?

I'm supposed to wait until next year before I try to make my shareholders happy? Because I just IPO? No, IPO is just part of an entire step. Especially when you think about, let's go deeper. Look at the company that do it, who those people are and how they've acted.

Epley has acted very deliberately, very carefully, very strategically from the jump. And money's been coming. And they've had a hard way of it but they've still they've still done it yeah definitely

well I'm gonna know but yeah so that's QWI QWI share buyback alright cool interesting thing for me this week was

Barita alright the Barita alright so Barita they dropped numbers and I remember well me and randy were hunting there look randy and i yeah we know that was our feedback i get for telling you that last week

and he yes people never write that he never never find an article but it was correct i do i say because i always think you're never here same actually I say it because I always think it Whenever I listen to it And I hear it Same actually Especially when I tweet it Most of my things

Are Randy and I When I talk about The thing they fuck yes But Barita They're not numbers And We had

Spoken about The fact that The investment gains They got last year They're gonna have to Put something to match it I trade on a PE market yeah falling profits mean falling in there falling on this yeah and these guys that what these guys don't believe in falling profits right what kind of profit and report with it so you know the investment gains also it all right so now it was fees

permission before this before this okay okay so investment gains and this year no people's hard because on last year last year the same quarter their investment gains was less than the quarter last year the quarter before before that? The quarter before. So, December 31, last year. Last year being 2019? 2019. December 31, 2018 though. Okay.

But you know that, yeah. No, I'm saying, tell the people that Cardiac only said last year. Oh, okay. So, December 31, 2018, they made 262 million profit on investment.

And in December 31, 2019, that's December gone, they only made 252 million profit on investment. And in December 31, 2019, that's December gone, they only made 252 million. So they're less. 0.1. So they're less on things. They got that down. A drop, yeah.

Yeah. But they're still putting heavy profit increase. Bottom line was 502 million and December gone. And December before that was 108 million. So enough money to make. Huge money, and most of the jump came from fee and commission. So the money that they were raising all of last year through the rights issues was into good use.

So they have new business going on right there. And a lot of that has to do with the nature of the money they were making so people are talking it's not actual cash they're making so spendability liquidity other money was there yeah here we are here we are with them showing the liquidity of holy boost and I said I myself what the questions are only oh yeah definitely asking are so what I did something in look at some things I have subsequently tweeted I said that I think Barita is my dark horse

when the results dropped all people were oh Randy he says us stills oh god yeah dark horse dark horse

dark horse it's funny because I said I said to you you haven't told anybody you're thinking on it yeah I was saying

they decided they decided that whatever happens Randy says us so good luck with that post great work thank you for your responsibility yeah I was excited they decided that whatever happens responsibility yeah great headaches you're right I've never said I've never publicly said why what my thinking is I just says my dark hearts big you know for the year and that's funny because you know if I said that when they were trading at nine oh gosh oh god oh god

that and that was a hell of a jump it went from nine hours to ninety dollars and i'll come back down to 70 and and and and post that they have made this profit as you see 300 what was it 250 what's a percentage profit increase and that's just for the first quarter? Yeah, just for the first quarter. Yeah, just for the first quarter, they have made an increase of... I want to give you guys the right number. You know these guys have all these percentages and then they'll put a percentage up there? I guess I'm playing subtle. Oh, yes. It's somewhere. Where did I see it last?

You must work it out yourself, stop being lazy. He said to himself. 502 divided by 108. Simple. Put my name.9 in there though, sir. .97 is actually worth putting in. Ah, joke. That's.363. 364% increase in profit. That's very respectable.

What's that? Wait, the 972? I said about 364. It really isn't. I mean, yeah. But it's a marginal error. 364. Yeah, you know what's interesting

That more shares Out now Than before Than before The EPS The EPS jump So yes On somebody's thing there

They mentioned Anything they think there In their report The shareholder's equity So It rose by 361% Shareholder's equity

Because they raised money Throughout last year But that's That's efficiency In companies rose by 361% because they raised money throughout last year. But that's efficiency. When companies raise money, it's hard for them to put efficient VDATs, prints money at the same time. So when a company raises it and they buy a plant,

the money doesn't come at the same time. But when you invest that money, then it's easy money. When money comes back, it's just investment because yeah an asset can grow cash is limited in what it can do um oh the funny thing i mentioned that they think that people were questioning the viability of investment gain because of the liquidity of it they make money sometimes end of last year so by it does end of year they put gain on sale so through the year we're booking a vpl but a big part of the investment last year they sold they sold a lot of that investment so

okay they made some cash there that's not oh so that's just funny to me exactly. At the end of the day, guess what? We still can't get cash out of this thing. I'm not even arguing that point. I just found it interesting that on EPS, they didn't normalize the base. It's not adjusted? No. So if you look on EPS, they gave you

17 cents last year, same time, and this year they gave you 61 cents, but it's 652.7 million shares last year and 818.9 million shares this year. That's a significant amount of shares, new shares. Which says to me, I think that if they make the basis similar, the percentage... Oh, definitely. Huge. the base is similar the percentage oh definitely yeah okay huge um is my dark horse people here i think i can leave it there uh if i put myself on a one year do i think burrito in one year will be worth more than 20 percent and make it easy for me 30 percent 30 percent last year is what the

market went up by i think that burrito more more than 30% at the end of January 2021 where you tell right now per share is $71 and 18 cents and if it goes up by by 13 by 30 percent and I would bring it to $92 and 53 cents who knows who knows who knows who knows who knows I mean I believe so would bring it to $92.53. Who knows? Who knows? Who knows? Who knows? Who knows? I mean, I believe so.

I think that's light for them. They've not got 90 already? Mm-hmm. I said they've got 90 before them to this, you know? Yeah. So. So, interesting times ahead, man. Yeah.

Very, very interesting times ahead. One to watch. One to watch. Between Jamty, the space. We spoke about the thing there, the principals. Bill, directors taking a position a heavier position because you sure you said we're talking about people buying into the company and some directors that they still don't some senior manager directors still don't hold stock in the company and i see but we saw how they have slowly started to get started. Because you see, last year, some of them have marketed that third and that. Oh, yeah, it was in history there.

Yeah, we're seeing how they buy over time. What's interesting to me, though, was remember that there's rights issue. You could transfer rights. Aha! So they could have easily bought in at 45. well i usually yeah i'm leaving room for maybe there are agreements or who can or can't hold shares at a specific time and reasons why they might not be able to hold shares that would be interesting especially there was a heavy thing there because the nature was going on right now with the cornerstone having a holding that might i don't i thing there Because in nature What's going on right now With the Cornerstone

Having a holding that might I don't know much What's going on With Cornerstone Yeah Cornerstone Is also a dark horse But that's not on the market Oh yeah

The closest is Barita And the top dog there Paul Simpson But he does own shares In Barita He owns shares Owns a significant amount Of shares

So he would have also Benefited from Well I think he got yeah that was interesting to me that he seemed to have well i like he benefited during the time and he should benefit anything in the future hit him too i like that i like when the top dog are in fact the top team i like when the people are invested with you yeah yeah who own the company are investing in the game with me yeah skin in the game can i knock it uh but i like i said one of my dark horses for 2019 2020 yeah that's like i'm stuck last year i mean i said the right i just haven't bought it well i said we should keep this one short i don't know what i'm doing um but i think i'm gonna give you guys enough here i feel like we're gonna end i is a hope we never said there's one big up I won't give up

number Jerry but that good version mine he did put out some oh okay yeah the J trade I think which boy he used a trader you know that like a small window dome innocence I check your show notes you'll see there I call the J trade a fix all it's simple all it does is it allows the JTrader window to fill your browser screen your browser screen your window it doesn't mean it's gonna be locked inside a tiny window that it always was JC if you can please if you can lend an ear and just fix it so we don't need fixes like it's really good it really is good to make a world of difference in the whole market my lord yeah I've seen

just more versus like a tiny window or wise even worse on mobile oh gosh mobile kills me yeah yeah yeah yeah yeah but you know it was good it's good to have it more comfortable happy that the bedroom did that have linked the fix for anybody who's interested you'll see the fix in the in the show notes anybody else I forget to big up this week I'm sorry but big up

big up big up everybody big up everybody big up everybody we're coming to you with a lot more this year anything you want

to tell the people enjoy here make some money anything about the markets anything about finance anything they should look forward to oh

oh no not right now oh god nothing on the mind nothing oh lord that's a problem guys we hope this hasn't been too terrible for you Oh no not right now Oh god Nothing on the mind Oh lord That's a problem Guys

We hope this hasn't been too terrible for you I hope you enjoyed Hope you found some gems in it Look out for more from us next week Look out for some interesting things Some good interviews as always I'm trying to bring you the value I will leave you with that

I'm Randy at RTRO And I'm Benai Enjoy yourselves guys We're only going to enjoy ourselves now And this has been earnings season. Yes, you know what?

One last thing before we go. There's something I should say. People are listening to this during the first week, the

anniversary. So this is something I should put in and I'll make sure to say. I don't know why JC hasn't made a bigger deal of it.

Maybe they will soon, but it is on Monday. So you're hearing this on Wednesday. So it's a little too late, but you'll see my tweets about it also But we're recording this the day before On Monday the 3rd Of February 2020

Will be The anniversary of the I want to say the very first Trade on the JSC And I'm now As soon as you're ready to say it, everything just gone because I'm supposed to be seeing it it's all the reading

all the reading and all the stuff I do all the time I don't remember I don't remember where I found it but it's not hidden, the JSC doesn't hide it it's something there but the JSC's first raid happened on Monday February 3rd 1969

what's that? that's good, that's some homework for people if I find it I'll put it, I have some pictures maybe I can put in the show notes but it's a good thing to know that something like that happened February 3rd 1969 how many years since then Danai? I don't know 51

so 51 years since the first trade on the JSC. First, they were the Kingston Stock Exchange. They were in their own building at BOGEN in February. It happened. So it's a hell of a time because here we are years later

with you and me on a podcast talking about stocks and that thing. Yeah, so thank you for that moment. Yeah, I just wanted to make sure we say it on a podcast because a lot has come out of it. It's a damn big deal. Thank you guys.

This has been Earnings Season. I'm Randy at RTRO and I'm Dan at H9 goodbye I want to try it. Sweet, but it.