Earnings Season - Back Again!

Episode Date: October 22, 2020

@RTRowe and @HDanhai drop in this week with a quick and current one. From John Jackson v.s. JSE aka Circuit Breaker Wars, the new Tropical Battery IPO, Sygnus, Seprod and a whole lot more. They wrap with 2 personal stock predictions for this quarter. Lots of value? Dropping gems or just droppings? You decide…😉Contact Us Here 📧 [e-mail]📱 www.twitter.com/Earnings_Season 🔗Links🔗 GRWR Beginner Investing Workshop - www.everymickle.com/grwr [Discount Code: MERRYBRICKMAS]Earnings Season Twitter Protest - https://twitter.com/chrisfromuwi/status/1312863120130535424John Jackson on the Circuit Breaker - http://icinsider.com/over-25-years-of-useless-circuit-breaker/JSE's Drop - http://jamaica-gleaner.com/article/business/20200708/jse-loses-ground-among-global-exchangesKREMI's Property - http://jamaica-gleaner.com/article/business/20201014/kremi-acquires-property-still-decide-use📢Shout Outs📢@ChrisFromUWI, @NigelClarkeJa, @TopStrikerShan, @RichardPandohie, @JohnHJack, @KalilahRey, @5Solae, @876Invest1  ★ Support this podcast ★

Hi guys, welcome to Earnings Season, the show from evermickel.com. I am Randy Rowe at RTRowe on Twitter. And I'm Danai at HDanai on Twitter. And this is Earnings Season. I call this episode the back again episode, back again like the brown girl. I'd actually play a clip right here right now, but I don't know if there's a copyright on that. So I'm not going to get myself in trouble.

But you guys know which brown girl I'm talking about. You guys have not heard from us in a long time. Quite a while. Yes. Right? You see the memes and the newspaper. Exactly. He said the memes and the newspaper.

Exactly, yeah. I was about to say, let me big up Chris from UE for his, what do you call it? The MP. The MP. MP. That's it. I said it in the games news or whatever. He has a newspaper thing that he has done.

It is mad witty. I'll big him up for that. It is pretty funny. If you guys don't know what I'm talking about, check the show notes, the link will be there. It's just a nice little tweet that he's been doing to try and push us to get this thing out. So, yeah, first in a long time.

You guys haven't heard from us in about two months. You'd have heard an episode the week before last, for those of you who are keeping current. But if you listen to it, you'd have heard that it's the end of the long-running, never-to-be-repeated market review that we'd have done. So this is, I think, our first current-ish episode in a long, long, long, long time. In fact, definitely our first current episode in a long time. Yep.

Definitely the first since Okoata. And what an exciting day. time. Yep. Definitely the first since the quarter. And what an exciting day. Indeed. Indeed. I don't even know where to start. I don't know if... I mean, the day is going

to always be exciting. So we can always touch that. But let me start off with whatever else we may have missed in the interim. Anything interesting happen to me?

Something you have in mind? Then I will go one for one. Right, let me tap in. Actually, let me bring up my your notes i know in the meantime i know i jumped to mind something small john jackson had a so much has happened in between you know i forgot to send that to you and that's what i usually talk about John Jackson's complaint I think

quite a lot of us actually trade hold yes he has an article on I look in fight but his eyes actually hard to surf I see inside over 25 years of useless circuit breaker to surf. Icy Insider. Over 25

years of useless circuit breaker. Oh my god. The original troublemaker in the industry. Sorry, Don Jackson. I rate him. I can't stop rating him. Nobody hold him down. I'm not saying much that's wrong because, to be honest,

I can see where the circuit breaker has achieved what they say they wanted to achieve. Even in the small price. They halt the market for one hour and then release information that would lead to that stock that would be around that stock being halted.

To allow investors time to cool down and absorb any information. I bet that they are released from the JSC saying, hey, this is why it halted. to see i love to allow investors trying to cool down and absorb any information i've got to see a release from the jc saying hey this is why i thought it usually when it's how we kind of already know why i thought that the news come up before and then something happens in the market where boy i'm invited to parcel it down based on that news and then it hurts i'll get to see the jc release something to say boy you know said it's not hard because profits were up even though we never tell you like it was we don't know and we do whatever and one or four the training is short enough already one hour yeah all right so let me just

do some context especially because i'm sure we have some new listeners yes so people who don't know the circuit breaker is i mean you might have done a little bit of work and of course the article mentioned in check your show notes the link to it is in the show notes i mean i'm gonna be reading it all out however this the circuit breaker pretty much if you go over 15 it flies for an hour if you go over 30 it flies for an hour and it reverses whatever that trade was which i think is a i a very generalized version of it then i know that the depth of the details but that's pretty much it indeed unless i have that wrong right no you're good you're good yeah so john jackson i said that where i'm just calling it out for the stupidity that it is not that a circuit breaker in itself

is is also let me play devil's advocate right so the circuit breaker stops it and as then i just said it's supposed to allow us to absorb information no I'm going to say that just because something hasn't happened don't mean say it shouldn't it don't make sense right it's like you know your seat belt you're never in an accident or the kind of accident in you never ever actually need a seat belt but it don't mean you shouldn't have a seat belt um but then realistically we don't have the kind of market where information is going to be released to change anything. The truth is the only reason I stuck trips to Circuit Breaker is because somebody either buy it over the 15 or the 30% or sell it below the 15 or 30%, right? And it's a time for it to, that's one point.

right um and it's a time for it to that that's one point the second point is like time for you know the market to absorb news blah blah blah so i'm thinking advanced market let's say what's a realistic example sslvc some terrible news comes out in the middle of the day like yo turns out there's heavy trouble there and there might be nothing happening blah blah blah it's a big deal and everybody here while the market is going on so if you own ssl dc shares you start selling me i just want to get rid of them right and i think the idea of the pause is that it forces you to just kind of calm down and as much as you don't rush anymore there's no boy the market runner left me you can actually say i'll cool out and see what my what i actually want to do right now based on and i can actually get information see the impact to me and make a decision i will have a decision not boy i will lose i will lose all my body and

i've run on the market now exactly now the reality of the thing is right it's twofold it's a slightly complex issue. One, we only have three and a half trading hours every day. From nine, the market pre-opens nine o'clock, start nine thirty and it runs to one o'clock. In three and a half hours, if you have a one hour pause for any reason,

that is... Literally, right? In a small sense, it's almost 30 percent of the day gone depending on when it frees so how the how does it make sense to do this secondly what information is going to be released like if the information is released and we have time to think about it you have now frozen the market to a point where of course as we come back we're going to try and sell now it can't go below the 30 percent of the um assuming we're talking about a below here it can't go below the 30 percent of a circuit breaker reference price in the day but tomorrow morning you think i don't just as much more people want to sell it. Tomorrow morning is the real bloodbath.

So what you're really doing is you're setting up a hell of a bloodbath the next day. In a bad situation, in a good situation, you're limiting the fervor of the market, the investors in the market, because people are excited about it and excitement does impact the market because your your your people are excited about and excitement does impact the market and i can well let me go on record and say it right now the excitement should influence a market um things like that investor excitement should push stocks it is part of a healthy market and if you remove that you've removed the teeth from the market. Every IPO. Exactly. Exactly. Exactly. IPO, that's one of the things that has passed in the time that we've been away.

Tropical listed. Tropical shareholders currently looking at what? Around 15, 18%. 18% as of today. So we're recording this on the 21st of October. So the people are up 18%. How long in a listed a month? No. Yeah.

So 18% up in less than a month. And that's cool. They are listed on the 30th of September, the last day of September, which is good because it then means that the people who would have done my IPO growth for Tropical, I would have said that if it listed after the 30th of September, then I believe they wouldn't

necessarily have to tell us their whatever that quarter is because that's the end of a quarter for them. I'm surprised that they chose that date. Because if they didn't choose that date, they could have waited months and months before they tell us what's happening in the company yep yeah it says something interesting to me it does say something else interesting to me but

it's not old it's not new to ibo's yeah exactly very and and they would have been aware and planning this for a long time quite a while so i yeah i am sure that there's a reason that they have chosen to do that and the implication is that they i won't go into the too much speculation here i will say that what it is is that it definitely unless i'm mistaken guarantees that they will be showing their which quarter is this for them? The four-year regular financial year? I can't remember. It might have been the full financial year. It may have been.

It may have been the full year figure, which would have given them a lot of room. Yeah, man. Because they wouldn't have to say anything until the end of the first quarter. Yeah, what a thing. so the fact that they chose not to do that is interesting to me because that very much was a choice i'm pretty sure that they wanted to because i just delayed it by one day yep very easily very very easily um

this is i think that their quarter ends i'm checking the prospectus right now as am i this one i went through this already very recently so i don't know why i'm doing this are checking the prospectus right now. How's that, man? This one, I went through this already very recently, so I don't know why I'm doing this. Me too. But you know how it goes. Every day, you check it. It's a year, but 30. Very often, we check the same.

Yeah, man. Three times for the day. That's how it goes. More than three times for the day. Yeah. Jesus, how much time I look at separate results today but we'll get there let me not go too far on a tangent so john jackson john jackson has been hitting the jc and i i i mean you can't anybody who is understands the market you have to have a very good argument to disagree with him. I cannot see the argument to disagree with him.

It is a silly thing. I'm not saying that there isn't some room for a certain kind of circuit breaker function. And there is no one-off rule. You can make rules you want. They could have done a down circuit breaker only, but not an up. So you can say, yeah, you can go ahead. I'm agreeing. I'm just agreeing.

I'm not seeing the issue there. Like, I think the NASDAQ has no upward circuit breaker, so the market can fly, but there's a downbreaker. So, you know, the real issue very often for people trading is,

boy, maybe I lose my money. Nobody's really complaining about it. Maybe I gain too much money. Exactly, right? And you don't want to pull the teeth much money exactly right and you don't want to pull the teeth out of the market you don't want people to lose the excitement exactly so it feels yeah in air quotes protection from a downward breakup but upward breakup boy it also evokes me now because it's not being how much i can move right now exactly um nasq does have a circuit breaker so nasdaq has three levels seven percent decline

before 3 25 pm because i think trading for them ends at four four yeah so before 3 25 pm if it if it if there's a seven percent drop it holds for 15 minutes and and bear in mind that nasdaq's trading day is much huger than jc's three and a half hours right um if there's a 13 percent decline again before 3 25 p.m they hold 15 minutes again so for both of those things if it happens at 3 25 or after they continue trading no matter what makes sense because the day is soon done anyway um if there is a level three which is a 20 decline if that happens at any point in time they halted for the rest of the day you see that makes sense that means that that's somebody at the top saying all right i am here to protect you for whatever reason

people are selling the same more than 30 and 30 percent on the nasdaq is a drop yep yeah yeah 30 yeah 30 is wipe out yeah yeah so if you drop 30 percent we don't if it's 901 a drop 30 percent it done for the rest of the day but if it's 15 percent or if it's 13 or 7 15 minutes cool off yeah because what could have happened but in jamaica what we need more time for what there was a time yeah most of the money people get them on them information from gleaner we're gonna come out in the morning and i'll come out again that one exactly you know it's not coming out at 1201 i don't understand the midday thing with them release of info where we get our information in the jsc and mainly what news coming out in between in the middle of the day saying boy i'm actually the market now and i think you have a misconception about how the breaker works to protect them because

people say boy i lose less money if there's a breaker there and i said no if say the profits of a company like you you see like a report come out and you realize that boy for the profits of a company, you see a report come out and you realize that, boy, for the rest of this year, this company is worth 100% less. The break cannot go from dropping 100% because it's spread all the time to get up to 100%. Or 90% less. Or 100%.

Yeah, 90%. It's not going to stop. It's not going to say, boy, okay, this company is worth 90% less. The break trick off of 15 percent and then 15 percent today then go in another again until they reach that body it's not going to stop it yeah so people are misconstrued how it works to protect them it's really just boy cool off and see if you really really want to do that so i wonder like what there is no true maybe i need

to do more depth on this but i've done enough research to feel comfortable saying that there is no real. In fact, I was going to say there's no real benefit, but I'd go even one step further and say that it is actually working against JSC. Agreed. Yeah, because JSC is the thing that they love to talk about. Biggest stock market in the world, 2015 best. It's on their results. Exactly.

We are stifling the growth. Exactly. We are stifling the growth. It says to me, you really actually care about your performance. So, why are you working against it? That adds up one and two to me. Yeah, I don't think... I'm not sure that they actually the people doing it

actually understand how they are actually impacting themselves right and especially no i think corona is a great example because corona allowed a lot of people to think that the market was dead yeah obviously the thing that really caused the market in 2015 and 20 was it 2018 or 2019 as a best performing stock exchange was the fact that we had a lot of hot ipos and um exciting ipos and a lot more new people like i'm sure a lot of people listen to this coming to the market um in 2020 you had a lot of people who would have just come to the market and gotten a little burnt because they're downloading, pretty much buying a lot. JSC Circuit Breaker actually, in my personal opinion,

impacted what could have been a nice rise for them through Tropical. Granted, I'm not knocking 18%. That's nice. But I think Tropical was impacted in some way by the fact that there is that 30 cap on the day so if me excited about tropical and i feel say yo i'm buying this thing for 10 years so selling me that a dollar on on listing day one or even a dollar 20 or dollar 30 i'm fine buying it there i'm fine buying it at a dollar 50 because i am trying to hold it until it is worth $5 three years from now, right? But I can't do that on day one because somebody has decided that I need an hour to cool off,

to consider this company that I've been considering through the prospectus for the last two weeks and waiting on. That don't make no sense. You know, it really don't make no sense. They're stifling themselves. And that is why I'm surprised that they haven't. Well, I'm not surprised, but I gather that for 2020 they are also another bloomberg record they're the worst performing exchange in the world oh wow yeah i mean don't hold me to that i could be wrong if

i'm wrong i'm sorry i love the jc i'm not knocking them i'm a sometime shareholder but i believe that we have had the biggest fallout of all the exchanges tracked. All right, cool. I know it was somewhere around the bottom. I didn't know that it was the worst. Yeah. At one point, I am sure it was the worst,

but I don't know if like at the point where they officially measure, they are, they're, they're actually there, but who knows? Yeah. So, so you go, so you go so you go i mean yeah it's it's them i think real i would hope realize now that they need to um do something about that they need to

they no need to to actually take a strong hand at the market and look at the things that they've done and the answer can just be that we've always done it you know and i think that's yeah some reason i think that's the answer again because the talking points are hearing from the jscs oh we still have ipos lineup yes that's good but it takes a lot more active it takes a lot more active um a much more active approach from the JSC side because they can only be open and advertised. We offer a listing service and whatever. If companies don't come in your timeline,

then what are you going to do? It can't be your own strategy. Exactly. So that's the official market news. That's what I guess we think. They need to have a look at it, right? I'll leave it to the experts guess we think. They need to have a look at it, right? I'll leave it to the experts, but I think they need to have a look at it.

And let me take back that worst in the world thing, not because I think it's wrong, but I just, I don't want to have to stand behind it. What I do know is that, and I can reference this, up to July, there was an article in Cleaner, and I'll share that in the show i'll share that in the um show notes so if you guys listening right now you can check the show notes for this it is the article from gleaner in july where at the time jc was the um was among the 10 worst i don't think it was 10

either i think it was it says it's somewhere in there six or something but the point is it's a hell of a fall not granted it's covid we understand covid hitting the market in a way that allow it to seem like there's a lot but if you really know the market you know what that means is that ncb drop yeah indeed exactly ncb which was at 1.30 odd percent of the market fell down I think right now it's maybe 20 something percent of the overall market yeah so that's a big

30 something exactly but on the flip side I think it's about to fly I think it's about to surprise a lot of people a lot of people uh yeah a lot of people you know i think you said this on our episode you gave this timeline that they're going to surprise you their next results and maybe the first quarter

should be interesting time yeah yeah the funny thing is though as you know my thing already right i mean i think what can happen is that there is a whole heap of justification for a rise in ncb share price and for anybody with sense i'm buying right now you i mean in my case if i'm choosing to buy this i'd buy it right what close that today today october 21st it closed at right why close that today today october 21st it closed at 136.87 cents per share heavily undervalued and the manager and they keep hinting they keep hinting to everybody oh we have a new person here oh we just sold our insurance portfolio to ourselves our subsidiary or 62 percent owner subsidiary um and and that in itself has some implications oh we're going to reword this oh we're we're doing it in such a way that we're i think they're

obviously going to be worth more i mean somebody who's not trying to make money one week from the next should be able to let them i am by in my view um let them i am by ncb at 136 uh 136 87 after speaking to your licensed investment advisor which neither of us are you guys haven't heard that in a while hasn't changed but yeah at 200 dollars you were buying it and what's the material change since then exactly exactly to be honest exactly at two at almost 250 last year middle of june july i think last year people were buying it and at one point it was 240 something yeah and and then at that time i thought it was undervalued yep and it is valued a lot more now so for those of you either the big money or the patient pockets are looking for a nice surprise

you might want to talk to investment advisor about that one um and more good news what else is there you want to separate now or you want to touch something nice it Something nicer. Speak about Barita, you know, you're on these dark cars. Oh God. Oh God. Go through, go through, go through, go through, go through. Through the APO, 53 something. Hmm. It was 53. I think if you're buying on the public market,

I'd have it in front of you. I'm going to say 53.88. Ah. But I could be wrong about it, but it's about that range so it was a it was a good deal all around because as you can see right now people have to have that 90 dollars so if you bought in the api made a good money off for that so and it's funny because a lot of companies right now talking about apo so you hear the ipo quietly we hear out of load what we're doing in APOs. I think around six people exactly confirmed that they're doing APOs.

I think so. Six. Let me quote them out. We have, we have, Jemim, we already did there. So we have Pulse who is doing an APO. We have Proven who said they're doing another one. One trading. Yeah. Derryman. Yeah. Who else? It's funny how I'm blanking on them, but I know it's a whole heap.

Panjam. Panjam. Yes. Panjam had said that. Panjam has said an APO. Has JP said anything about an APO yet? No. I think Sterling said.

Was it Sterling? Sterling Investments. That's what it is. Not JP. Sterling APO, that's five. Who else? I shouldn't even text my brain like this. Let me actually look at the market and see what jumps to mind.

I'm doing it actually, yeah. I am seeing, did CFF say anything or it's just Derryman? Derryman doing the APO, CFF did their split. Yeah, so CFF did that, which was very exciting too, right? It did. Good amount of money for people. And a good amount for you. It's also another

what the hell is JC doing moment. I don't want to cost him too much in this. I really don't want to cost him too much. In fact, I'd actually love to have somebody from JC on this and we talk to them because I don't understand what's happening. It's like the rule. I think we need more people with money doing lawsuits. Yeah.

That's what I think. Cause I think sometimes we just kind of forget things cause they're supposed to split on a date. And in essence, the price, I don't want to say them split before what i'll say is that you could buy it on the market at the split price before the split date exactly my issue all right so general jc used to work it's funny that the issue is two prong. One, you never communicate the change. So if I'm going off what you have as how your splits work in the past, it can't be on a day that this happens and I'm looking at the market saying, oh, them people are wrong.

Them can't be really trading at that price. And then my broker calls me to tell me, oh, yo, we got a message the jc and they said this is how the splits will work that's not on the jc side my broker who knows that i'm very much into the stocks thing him call me and say oh so you go i think you'll never get never get information i never got that information is that something that i can hear tell us us, can you inform me? Let me hear how this goes. So, all right. So let me explain how it works. So generally before the split happens on the split day.

So you know what I'm saying? The split is effective on end of day or close of trading on this specific day. Right? So now how they're doing it is that the price will be changed on the x date and then the switch you receive your shares the split shares on this on the thing there on the effective day on the record day sorry what so the x date said it again for me and everybody else who lost two days before the effect even before the um the actual record date the day you have to be a shareholder by. Yes.

So if you're a shareholder by on that day, if you're on record on that day, then you receive the shares. But the price of the, before new shares are issued, the price of the stock will be changed to the effective split price on the X date. What? Yeah. So that's what happened with CFF. So it was trading at $2 and $3 before you actually have those shares. My loss.

Hold on. So if the split date is Friday, we're a T plus two market, so you have to own it by Wednesday. But on Wednesday, let's say I have a $10 stock and it's going to do a 10 to 1 split on Friday. On Wednesday, it's going to trade at $1. Yeah. But that's not how it works works a split is a legal thing it's not in a

jc thing it's a legal thing exactly so you can't give me so they're doing futures so you're giving me the friday price you give me the friday on wednesday that no make no sense i mean you do that now to me if no new shares are issued as yet, right? Then the market cap will be affected before new shares. You effectively cut CFF's market cap in 10 on that day. Suppose my broker called me about my margin on that day because legally, I have this amount of shares at this price and my marketing said I can only buy this amount. Let me do you one better. Let me show

you the last thing work. Let's say that I owe you Danai $10 million and I'm going to pay that $10 million with a million shares that I have today worth $10. Now those million shares at

$10 is going to split on Friday. Right? And I'm going to pay you on Thursday. You're telling me that on Wednesday, JC is going to decide on their own that it's worth $1, even though legally it's worth $1 on Friday? So if I want to pay you on Thursday, I can't. Because I literally don't have enough shares to pay you.

So I have to wait until Friday. Get the new shares and pay you. But suppose my legal arrangement is that pay it on Thursday or you have a penalty, which many agreements go like that. That's crazy to me. It's funny because I think they were working off how nasdaq does it so apparently nasdaq day on the x date because basically how it works is that you know eligible for shirts on this day so if you're the last day of eligibility is the day before x date so they basically they split they they get rid of that issue by giving you the shares

and the split price on the next date. Say that again. NASDAQ does what? Basically, the day you're eligible for shares, the last day of eligibility, if you're now eligible for shares, the very next day, they split it, basically, and give you the shares. So you get the price.

The price decrease and the split and the new shares are issue are all happening at the same time to me it don't make sense to split those two so either you on the record date or you can exit it you can't split them up and then tell me later say oh well you have some less shares and now you can get the shares later. That doesn't make any sense. What the hell? Apparently, what they're trying to get around is... So, CFF was trading at $20, right? You know, on the X date, if you buy at $20, you're not getting any shares on record date.

So, apparently, they were trying to combat that. They don't want you to be buying shares at a high price and not getting any shares later. That's not your business. Exactly. That would mean that would be somebody who hasn't paid attention. It's not your job to be my mummy.

Exactly. It's funny because you gave me all the information and I decided to not look at it. Oh my God. So they're trying to protect some interest there, somebody's interest there by moving for the price change.

To me, if you're moving for the price change, you have to move for the thing that changed, right? The share change. Yeah, it's not up to JC when my share is splitting. It's up to me. The company is splitting whatever it's up to me. Yeah, exactly. The company is splitting whatever it is,

so guess what? Oh my God. So I think the issue is, yeah, I think the issue is also in getting people to understand this is that a lot of people, because I'm sure a lot of people

are still saying they might be lost. And the thing is, a lot of people don't realize how you might miss money because of something like this because it's money that you lose or you don't realize you've lost it yeah because if somebody wants to buy my friday splitting shares to one dollar if they want to buy it for ten dollars on thursday and then Friday come and say, how come I don't get the split? And the broker

said, well, you bought it on Thursday, but you'd have had to buy it by Wednesday in order to benefit it. I mean, you might be angry, but that's none of my business. That's your fault. Granted, it's the broker's fault. The broker should communicate that if... Exactly.

Well, you know what? Maybe that's where it's coming from maybe too many people complain to the broker and the broker is like well jc do something to protect us yeah and that sort of thing is dangerous because what happens then is that you get the wrong thing exactly but i take on the fight that i can't take on so yeah so that was me on the day when i first heard of it i was upset and i realized i say oh just work with what i can work with now i'm not gonna call jc and this change so i need to trade how i can see this how this makes what's the best move going with with this in mind and then yeah it worked out for me do they do they realize the flip side of what they've done

because what it does is it actually causes other people to lose money still you can't stop it it's funny they say the big money people i think that would really know what's happening and would actually be they might they might get the wrong calls just from doing that i exactly if they don't you know all i say is shout out to the people who bought cff or sold cff at two dollars yeah the day before the day before the official split because jc was protecting your your buyers jc didn't protect them. That's all I'll say. Work out the math behind it. That's all I'll say.

So shout out to those people who made some money. Who else made money? You know what? The tangent hit us. We were trying to name out the APOs. We got the five. I think what hit us is that we, every time we're talking about this privately, it's we say APos and rights

issue at the same time yes and and we do have a couple more rights issues so we do have if we count all those apos that the um the ah you're right you know i know what yes because i've written down here right in front of me to talk about it and because i was considering it together that's why i never came okay so yes Key Key would be a right issue so Key has a right issue coming boom Cygnus as well Cygnus has a right issue yeah

Cygnus AP is much like a right issue and that's interesting yes we did talk about that one last year last year yeah oh we know. We're so lucky. Yeah, so Cygnus has a rights issue, an APO coming that looks to be very much like a rights issue,

meaning that they're putting the sort of rights issue. Yeah. Yeah, benefiting their rights issue. Yeah. Benefit in there for current shareholders. Yeah. You can get through with what your own, with the amount of shares in relation to the amount of shares you own. And anything left back, the public can pick up.

Exactly. So as a current shareholder, at whatever point that they, they're going to announce it officially, meaning give the details and officially come to market with it if you're a shareholder at whatever point they indicate in that document that will come out then you will have rights to a certain amount of shares and then the extra you can buy or the public can buy but you have a certain amount of rights a certain certain amount of things. Which is why, for those of us who have been paying attention,

which is why Nibos Select, Cygnus would have flown right back up to, why close to that? 18-28? Somebody put a big order in the queue and everybody afraid. Everybody catch them afraid.

Yeah, yeah, yeah. I'm watching it run with me, and then somehow this big order come and don't trip at it. Yeah. Yeah, it's a very interesting thing, those big orders. Now, we used to hint at it back in the day, but I think enough people are in the market now, where I hope people are

paying attention with say that. There are people who understand the strength of a big order. Yeah, man. A big order, to either buy or sell sometime it don't really it don't actually go through meaning it don't actually trade but it does enough to stop people from doing a certain yeah man uh it's not going to go past this point because for somebody to buy past 20 dollars they might have to spend 200 million i don they have to spend $200 million. Everybody can't say, boy, I know I have $200 million, so I'm not going to do it.

I'm just going to do it and nobody's going to trade. Exactly. And sometimes it's not even $200 million, sometimes it's like $1 million, $2 million. It's funny because very often that big order

drop in and that same person watch the market fall below them big order and they start buying all your little orders. You get your cash free and start selling.

You see me buy it, you're selling to that guy exactly he has more end of the day i run with it no gun because you were afraid to buy buy his shares exactly and that's why for the people listening you'll understand in the past i would call it a wall because it is it very effectively walls off or seems to wall off the possible buyers or sellers at times, depending on which side of the queue it's on, from either going above or below the price. And yeah, you can put in a wall on the buy side and then drop in your buys below on the sell side. Or the other way around. You know, I dropped my big $2 million order on the sell side and on the sell side or the other way around you know i dropped my big two million

dollar order on the sell side and i just thought on the buy side i i buying it at 20 lower because everybody catching free yep yeah it's a hell of a market strategy it's one of the good things that i hope jesse doesn't think it's a bad thing all of a sudden and put some rule in to stop that it's a part of what happens in the market it's part of what should happen in the market people they try to make the market an other thing and it's really it's just a market and everything that comes with that it's just like the whole thing is the incarnation market buying peer or whatever whatever same functions just at a different level and a different type of different mentality. You're selling a company versus you're selling fruits.

Exactly. Everything that comes in that little niche. A lot of the same mindset. As you always say, if you sell candy in school, you can't go into business. Yes. Yeah. If you do that, you have enough sense to go into business

or to trade stocks. And I think what happens a lot of times is that the voices that might hit them to complain, the feeling behind it is, no, but this is unfair. And I can understand that. It's just like your same example is in the market. No, how come him come into the market and buy all of the peer them? Yes. It's not my fault.

It's not my fault. It's not my fault. I've said $100,000 and i bought up all of the period yeah you can't enough with my 700 000 but then later on i sell the period for 20 more if you don't like it don't buy it it's not illegal i'm allowed to that and i should do that yeah the thing that's illegal is selling to yourself directly and pretending that you're not so you're selling from account a to account b yeah where you're the only person on both account a and b you get a call with that one that's actually in legislation you should not be doing that so yeah that's properly legal as it should be yeah yeah but if i have the quote

right i think it's it is creating the impression of a false market. You're buying and selling without actual change in beneficial ownership. Yeah, that is illegal. And that's what should be illegal. But I guess what's important is a circuit breaker. Anyway, I don't even want to hit JC again now, but I'll try to skip over the signals because I'm sure there are people someone listening to this i'm going top oh my god i see the signals price someday ah yes it's great oh my god you know for a long time

i didn't even know that i was in profit i think they draw from the side just giving you the wrong inputs that's the way i must do all sometimes you know i don't there are days when i don't know what signos price is because when it was in the 19 range i think a week or two ago i i didn't know because like two or three of the days out it was just pulling from the old price i don't know what jc jc had them them thing little by little but what i'm happy about is that the market activity still yes it's good for those who can see it it's very much it's not dead sorry guys i thought about that as i said you know what let me leave it alone but yeah you're right it's not dead it's not only is it not dead it's still exciting it's just the proof has come now i should show it out ryan who said on this show um last year and it was a last year

thing in the early days of earning season that where the market is now and and at this now at the time was like mid 2019 you can't it's not a luck thing so a lot of people think it's not a luck thing and it was at a time where like we had 80, maybe 80 listings and I remember a specific day where like 40 rose and 40 fell and you look at that

and think, oh I don't know but the truth is, you have to know which 40 it's not a guess thing, you have to pay attention to the company, you have to know it's not accidental is not a guest thing you have to pay attention to the company i've been no go another call you have been is that accidental pretend him or pretend man pretend my pretend the market is down the truth is no people the market good and still good it's just that the market has never been accidental or a luck thing you can get lucky but not consistently yeah and to get consistent gains

you have to know what exactly i know you're doing i mean we there was no podcast for a good little while but um i never even to feel bad because the truth is yo just go listen back the whole episode then because everything I said like 10-15 episodes ago is happening right now

but key yeah that was one of the next hot topics on my list literally insurance yeah man

boy we're talking about that for a long time before it came we spoke about it as a goodbye for somebody who's looking to do certain things with it and within a year some exactly and then somebody come and do something good with it and then the thing we spoke about should that would be sensible for it to do it's happening now yeah i mean i i don't know if i i'm going off memory

here so i don't know if it's something that's public. I'm sure somebody will either at me on Twitter or send me an email or something telling me. But my memory is saying that this might be great for a shareholder, a prospective shareholder who is looking to gain from it strongly one year from now and i remember saying that late 2019 late 2020 now q4 keys is is why close that today key today the 21st closed at nine dollars and sixty cents yep and it never traded today. Back then it was between 2 and 3. Exactly. Now it depends on when we drop this. And I hope to drop this tonight, the Wednesday. Well, I can say it. It's good.

The people who pay keen attention would know that Key has a... Key has a... They got to the Supreme Court. They went to the Supreme Court today. Yes. You hear anything from nobody? Let me check my email because they emailed me

this morning. Or was it yesterday morning? They emailed me yesterday to tell me that just make sure you're ready for the thing for the A for the for the agm tomorrow so they go into the supreme court to get approval to have an electronic agm if they get through so the there was an article in the newspaper saying they're cutting it close

and the idea was that if they get through with the ruling, then they will keep the electronic AGM. If not, then they have to push it back so they can actually schedule a limited person. I think they said that last part. I don't think they said they're going to push it back. Send me the article. Because my memory of that article says something else. Cutting it close.

I know they said they're cutting it close for real. Okay. But the last part is what I remember as important. I think them said that, yo, even if we don't hear it, I mean, technically they can keep the AGM anyway, that the rules of the Disaster Risk Management Act have been changed to allow AGMs. I see.

Yeah, man. But I'm working from memory so at this point you cannot say whether we we cannot say definitively with whether the board's decision will be to postpone the agm or proceed with a physical meeting on the schedule weapons said that okay so whatever this is on the board in the event key will take immediate steps to notify the public update shoulders on the way forward the important thing i wanted which i'm hoping is accurate is the quote from from webby the last quote where he says at this point we cannot say definitively whether the board's decision will be to postpone the agm or proceeded a physical meeting on schedule because they are allowed to do a physical meeting yeah and i think with all that's going on now i think they would want to do a physical meeting

and i'll tell you why it why i think they'd still want to wanted a physical meeting is linked in my mind to why Seprad decided to drop their results today what was it 21 I would hint at the Seprad for a while so we can talk about it what is it 21 days after the quarter ended so the quarter

ended September 30th and usually I mean you're not companies are required to report within 45 days after the end of a regular quarter i mean not up to four yet these people separate it's not a small company or junior max a big separate chose to drop their third their nine months report third quarter report 21 days almost more almost more than half, more than 50% early in terms of days. They never have to report until November 13th, which you guys would know if you've checked the Evermickel stock calendar, but they chose to report literally almost a month early. In my view, it is because

the people behind Seprod, in addition to being great business people, I suspect that the middle of November is going to be a very exciting time for the market. I suspect there's going to be a lot of things in the market to distract John Public. So if you have good numbers and you might be interested in having your share price,

appreciate because I, I personally think separate, which closed today, open today at 50 something. I made a tweet, but I don't remember the price. What was it? 58.

I think 58, 20 and close today at 64.25. Nice, strong growth today. I really like that. You might not want to have that be distracted by all other things that could come out during. And there are earnings. There are true earnings season companies.

So they would have been reporting with everybody else middle of november so if you if you want the people pay attention to your team maybe you come earlier so there's no there's no distractions today it's such a strong company then put the numbers out there is no ncb surprise profit there is no not that i think ncu is going to report then um i don't know off topic there's no agm noise for many not agm no rights issue noise from anybody else there's no apo noise from anybody else there is no um stock split there is no takeover there's no ipo it's just today wednesday separated a strong thing upon the market right now. And it is obviously strong. It is like, I mean, the man them whopping them last year.

Yep. The thing there, they're about their half-year profit with just the one quarter. You're not that bad, what do you mean? No, man. Them beat them full year. I mean, half of this year, so six-month profit was around 1.2 million, right? Uh-huh. year? I mean, half of this year, so six-month profit was around 1.2 million, right? And they've dropped a 1.2 billion profit for

just this quarter. Ah, I get you. Yeah, I get you. I get you. The growth now ramp. I mean, were there one-offs in that? A big one-off with the thing there, with the sale of the property. The property sale. Property sale.

A genius move. Top genius move. Man them sell the property for shares worth more than them. I respect the man them so much. As you said, they're owning certain people. A small amount of people using the market in a certain way. The way it should be used exactly

exactly I have so much respect for what the man name do it so even though the one off is there it's not like operations not growing same way and exactly oh my god

and then the Q4 I mean if the man name match I did some rough back of the envelope stuff sorry you were saying something just now even without the one half them profit out of the water of course and then there's the sugar that's no longer killing them

why oh god big up Richard Pandoy big up Paul Scott every time and thank you guys for managing my company very well I'm proud of what you've been doing i really am and and uh i mean just sticking to the separate thing looking at the the today i can tell you straight open today at 58 whatever close at um close at 64 25

and then right before we started recording, Danai and I were talking about it and I mean the Q the cheapest you can get it for currently, imagine at the Microsoft right now the Q has 21 orders for sale and the cheapest one is $68.70

and it's not that many units, it's 3,433 units and it's at $68.70. That's not going to last. Only $14. Two-thirds of the orders there are below $75. Yes, but they're small orders.

It's not a big order. So, if you're getting it, you have to run. A money person. Yeah, I mean, the first order, that's less than 300 grand Jamaican. That gone? Yeah, man. And here and here were people if you listen to this i don't want nobody be thrown off in here and said these big numbers if it's good for somebody with 30 million it's

good for somebody with 30 grand yeah if you don't have to buy the whole of the first order you can buy a piece yeah there's a whole lot of that gone even i today bought some i like a piece of others piece yeah man i was going too fast um yeah funny this that same point you say if you go for 30 mil good for 30 grand i'm gonna do 30 grand look at a 30 mil man and say boy why am i do so yes yes so if it's good for 30 good for 30 as i said exactly the percentage is what's important and the truth is the lower the amount of money you have on jc the better it is for you exactly you can you can yeah your percentage is very easy to do better than anything because you have a room you can choose you can pick choose anything exactly and you can move 30 grand into something

turn it into 60 grand and get it out same day yep i'm on a 30 million cannot do that yeah i'm on with three million candidates i'm on with one million candidates there's very few stocks you can do that with so it's so and and one of the beauties of that is that separate is one of those stocks you can do that with you can comfortably move a million in and out of separate in a day yep today will be a great day for some millionaires yeah in fact let me give the people some accurate information there's this file that i had put together for my um short-term class and i said i was going to share it with the people who did shan's short-term class people let me let me i don't have an official ad but let me do a two-fold ad fold one if you are lost with this you really want to learn

about this stocks thing this investment thing but you're afraid or you don't know nothing in fact i'm dropping this this week so i i'm going to put a code in this you can go to evermicle.com slash grower that's evermicle.com slash grwr and you can i have my next class actually my next class is thursday but i think i'm gonna be canceling those because i am beat and i don't want you know but in a tired a tired class i like when people pay attention properly blah blah and i haven't been able to pay attention to that so my next class after that is saturday so if you listen to this and it is not yet saturday october 24 go to evermekel.com slash grwr and you can pay for my class it's going to be held on two at 2 p.m ja time um it's all streaming so you don't have to go anywhere you just see the internet connection

at some time and i carry people from i know absolutely nothing about the stock market to yo i am comfortable enough to know what questions to talk to my advisor about and know what stocks i want to pay attention to how to make that money you're not going to earn warren buffett in one day but you are probably going to make more than the 0.64 percent that your savings account would give you and you deserve better than that that's ad one ad two shan has done her what is now her third or fourth short-term investing class if you're interested in in the hard going harder now you need a little bit more knowledge to the shorter investing class right i don't want you in the class and loss but if you're interested

in going harder especially in the short term because that's where i know shan put a lot of her energy and her time um you want to check that out she check out her what's her twitter name i know she top striker shan is it i think it's top striker shan you'll see that no man i know she changed it i think it's top at top striker shan if you don't know check the the um show notes right now and it will be in there point is she does her classes also she did one this month nice class where she did it on shorter investing and i'm sure she's going to do more so you can those are two great options for people right all right so those are the two ads no why was i telling you this because i know

a lot of people listen to this and they want to know to make the money um and i personally want people to know one you can make the money two is not a luck thing three is not a a a hurry come up thing and it's also not a buck ups thing all right i've been saying it all the time you can go back and listen to this podcast and listen to us calling the things that are acting how they're acting now a year ago that is not a joke thing you can listen to it a year and a half ago and there are things that we call i mean precisely to the point where it is weird to me how good the the the number the talk is if you're calling it to the quarter these results are going to come and separate it's going to then i call separate three time one time last year and two time earlier this year don't i think in the what episode the the um the one with 876 invest where we got to the separate

point we did it again yeah and separate don't anywhere near stop it because it's the next thing i see boy i'm gonna miss it yeah what them stop trade the company stop yeah you know you haven't missed it you know how much money i have made from buying stocks after people have said they're missing yeah man let's go back to Fontana I was saying Jamtee I was going to ask you how much times now you make money off Jamtee you tell me so you're making money off Jamtee and then exactly money don't stop running 2020 and I'm still about to do it again because they also have what them have coming stock split yeah i wouldn't be surprised if them all pull an

apo too because it looked popular now so i mean take the money and done they can use it yeah um there's no shortage of money there's no shortage of options to make money but it's not a lot of thing it's not a cash for thing. It's not a cash for thing. But it requires a lot of knowledge. If you have a little common sense, you can read, you're good. You have the options there. You have Shan's class, you have my class,

you have a whole heap of options there. So yeah, that's the infomercial there for you, right? And of course, there's earning season, which you listen to now, where you hear us talking about that whole heap of things. Right? For free, for free. And you really about that whole heap of things right for free for free um and you you you really have whole heap of options i mean i think about it imagine if somebody ignored us

i didn't ask their advisor about separate last year didn't ask earlier this year didn't ask about it last month i didn't ask about it yesterday but i'm hearing this right now yo i personally i'm comfortable and will probably still be buying not will probably will still be buying separate once it's below a hundred dollars and i think it's going to go in my view i think it's i personally expect it to end the year maybe 120 150 i'll leave it to the experts to determine that talk to investment advice about that but that's my personal view that's what i'll be doing and i'm going to be hearing i know i'm going to be hearing people telling me they miss it they're gonna miss it at 60 then we'll miss that 70 i'm gonna miss

that 75 then we'll miss that 80 then we'll miss that 90 just like how they used to miss ncv which i'm probably gonna tell say they miss again right up to another 250 yeah although i don't know if ncb is going to hit those 200s unless something happens with the the the dividend yeah yes the dividend i was saying that thing that that's really what's holding them back i know so you can get good news okay move up but until the dividends free up certain people not get pushed by the money inside yeah exactly yeah exactly that and but yo that moment when it free up in a man gonna push for the money inside yeah exactly yeah exactly that and but yo that moment when it free up in a man if boj come with something surprising because i suspect boj might do that boj may say okay we have a strong handle on which they have continually said

big up boj on twitter and and in real life but um i suspect that they may say that listen covid has had the impact it has had but we believe that the banks have the reserves and um as we have our protections we're keeping an eye on things and we're allowing financial holding companies to if they wish to pay a dividend again whether if them if them announce that thursday 12 45 tell jc for hustle up that circuit breaker for the one o'clock. And of course we know they don't actually do the circuit breaker between 12.30

and one o'clock anymore, right? I think. I don't know if that's an official thing. I don't know where I hear it, but I'm sure I've heard it in the thing there. Because I think I made a complaint how they don't halt or something like that and I have to clarify on that one but I think it was said that

within certain hours they don't halt for more than X amount of time they give a short halt because they don't feel that stuff kind of one time because they break up trigger you know say catch a first of the day but i think they have a short halt on some things and yeah

in a certain period but the exact details i need to call jc and find out about that yeah i love big up jc i mean as much as we give you a rough time we've also made a lot of money off the market that you provide you know yeah man yeah man link up now link up come we have time we have time trust us covid time you didn't have to come we do it remotely if you want we do it via zoom but come talk to the people the people want to hear you jc indeed in fact let me do the thing that people should do on podcasts people listen to this go on twitter and ask them when they're going to be on earning season yeah at jsc twitter thing at ja stock x ja stock is ja stock x don't it i'm saying yeah i don't know why they don't have the same thing as the website jam stock x but it's weird but hey j at ja stock x on twitter and say at j stock x

when are you gonna go go on earnings season? Ask them on Instagram, ask them on Facebook. Ask them any way to come on, because I think they should really come put a voice in the market. They have done some things, but I think they need a more responsive voice, and I think this is a great platform for them. I welcome them. Having said that, what other surprises? You mentioned, we mentioned the APos um we mentioned the ipo tropical which came to market that was nice that i saw it claimed as the restart of the market you

know bringing life back what else has been exciting or or implies exciting uh in a little while i know a certain crowd would love that Trans-Jamaica dividend. Oh, doubt no way. It's a strong dividend. Yeah, man. Big up Trans-Jamaica for that.

They have... Say that again? It was around 5% at the time of announcement. Yield. And they were good to get there. To get into the...

Yeah, because the record date is one november in a november mid-november in a november i believe let me just check it check it yeah so if you and it's still below ipo price so people transamerica has always been touted as a stock that is great not just for its um longevity, but before it's real. It has always been said, in fact, from IPO, it was said that the strength of TransJamaica is going to be in its dividend and it's going to be ideal for long-term investors and people who are looking for dividend returns. Now, if you're somebody who's looking for dividend returns or for long-term invest or is a long-term investor it becomes even sweeter because it IPO that $1.44

and it has not touched back that price to my knowledge or it has it certainly hasn't ended the day way above it last I checked and you can now get it the thing that was going to be giving you great dividends at 1.44 you can now buy it for 1.28 the dividends it's even greater 1.44 so if you buy it there for the dividends then guess what yeah man so their dividend notice is that they're gonna pay a dividend of seven cents jamaican or to be more precise 0.0748 jamaican dollars or seven cents i don't know how do you say this in cents seven four is 0.0748 because it's not 7.48 of a cent it's not is it wait what let me check the actual it's 0.0748 dollars dollars correct so that's seven seven seven

point four eight cents now you you'll be back okay 7.48 cents okay Okay, okay, okay, okay. Important thing here is that, I mean, that yield if you bought at IPO $1.44, that yield if you bought at $1.44 is 5% before taxes and anything else. Think of how far it has to actually move for it to be less than 5%. That's crazy, you know? Right? But here's the beauty of it%. That's crazy, you know? Right. But here's the beauty of it. That's at 144.

If you buy it at 128. Exactly. Oh, my God. It's almost 6% before the fees. The yield, that's a strong yield. And people think that's low. You're right. It depends on what you're comparing it to.

But 5% for a dividend is huge. There are huge companies that pay out 2% for the year as a dividend. Yeah, man, a good dividend is 3%. This is over 5% one time. Unheard of. Wow. In fact, even after $1.28, even after the 15% taxes come out of it, you're still looking at 4.96% yield, almost 5% yield.

Savings account gives you 0.64% yield for the year on average. You guys want to get out of that territory real fast and talk to your licensed investment advisor about something like this there's loads of reasons to buy it but there's loads of reasons to be able to buy it cheaper than anybody who thought that they missed the trans jamaica shuttle you can buy this for cheaper than the ipo price because 1.28 is below that price so do with that what you will talk to investment advisor about that and um yeah man understand that that it is a wonderful wonderful wonderful time i said 144 but i believe it's actually $1.41 as in cart there that it ipo that transfer yeah yeah right 128 when it was 141 that's almost 10 discount on the price

damn that's a that's a good deal for those of us who are into that right yeah even better to know the right time to go in uh so you got transamerica divin what do i have in mind exciting for the people who are in first we're going those big and long-term stuff. Remember First Rock at IPO did kind of hint at a rights issue, was it, that they said? It was hinted in their projections. Yeah, man. I think they had plans for a rights issue for three rights issues or something.

Yeah. I think like one a year for the next three years or something like that. Yeah. So who knows? I don't know if they've indicated that they're still going to. I've not seen anything that they've said once coming up.

But, as you said, the market is still on the table. Plans are still there, so why not? Yeah. Boy, I really expect November to be a very interesting month. Very, very, very interesting month. They reorganized

the board for their holding. Dollar Financial. I think they put... Say that again? They reorganized the board for Dollar Financial. They put more of their people on the board. So change it. Because they bought it. They bought it. So they put more of their people.

That is major um that's a i know it's major but it's a good move to see and it's good to see the diversification of um income from them from them with regards to that that's something that i i really rate because it means that them have holy pot options right it's not just the real estate real estate and yeah you know real estate people been crying right now i say in commercial real estate and you hope a tenant stays and not doing the work for one thing too much yeah the presidential real estate people been crying i just see the residential real estate people have been crying. I see Airbnb, I see a lot of rentals up for grabs again. I see some good deals on the market actually

for buying houses. They're earning that 20 million. That's your 20 million. Yeah, so I hear that. I think Khalilah, it was Big Up Khalilah and Taking Suck. I think it was Khalilah who said that, I didn't watch the video,

but the title of it was that, you the real estate market is yeah still still firm which i mean jamaican about necessarily can't sell them house for cheap maybe if we had like a full year or two of the fallout and i don't think i said i think slowly but surely um tourism is rising back up yeah i think not where it was before. It definitely was before. But yeah, I think businesses in general are dealing with the pandemic and not necessarily yielding to,

boy, things rough, shutdown. People are finding a way to work unless you're actually hitting a way that you cannot operate. You find ways to pivoting more than just giving up. Yeah. Speaking of pivot, that reminded me of Kingston. It's not Kecks.

Not for the Express. Not for the Express. Yeah. Who has pivoted into or say they're pivoting into courier service because the general shuttle service has seen a downturn since COVID. So that's ingenuity

right there. Let's see if they can, because they have had their income wiped. I think it dropped millions in revenue, just disappeared. SOS, you know about places as well I haven't even seen any numbers from them in a while did they release any numbers or they're about to

they should be about to numbers coming this quarter but they had June numbers open it now yeah they're going to they had June numbers which were rough on them they are made by school children.

Yeah. And nobody enough. Right? Their revenue fell by over 200, almost 200 million. That range over 100 million and their profit fell from 91.6 last year in six months.

So this year in six months is 21.8 million yeah yeah that's a 76 percent drop in profit yeah that hot pre-tax profit as a matter of fact let me be let me be accurate because in terms of um so and i said 21.9 that's negative 21.9 that's a loss actually sorry let me let me be accurate i feel so much pressure to be so accurate yeah six the the six month figure for them is and i'm looking at their June 30th, 2020, for the quarter, it was negative 21.9 million, almost 22 million as a loss. And for the year to date,

at the same point, it was profit of 21.8 million. So they still have some profit, but they're feeling it, boy. Hot. Yeah it boy yeah man yeah they need to i'm hoping they're lobbying the government wickedly quietly saying hey listen reopen schools yeah i think we're all facing the reality of that like everybody said boy don't reopen schools and then what i think people forget that entire industry is right there yep and that's exactly people feeling people children feeling that guy we industries right there yep and people feeling people children feeling that we've seen the complaints about people and the internet connection some just

of course yeah it's more me working so just exactly and that's just the kids that's just the kids yeah yeah there's also about the people who yo what do I do for a living I run a stall in front of Dunrobin Primary yeah yeah them people are eating a long time

you know brother yup I think yeah lockdown thing I think those yeah man

they can only be so much well yeah well let's see what let's see what is done I still continue to trust nigel clark um who is again still my mp but still also still the still the um the finance minister of the country and i the person who i mean i trust seeing him there i know that's somebody who

and i know i'm not the only one he's been doing a good job in my opinion and let's see what what he comes with to start this out it's a hell of a problem seeing him there. I know that's somebody who and I know I'm not the only one. He's been doing a good job in my opinion. Let's see what he comes with to start this out. It's a hell of a problem and it's his hat to bear. Heavy is a crown. I gave you one. Say that again? CSC went to church to ask what are their Phoenix Spirit of Revival?

Because, wow. Who is this? CSC 2000? Finally back into some strong looking profit what yeah i say um did they sort out the court case not done yet not done yet they have no man i think them them started out they may have like a arrangement now with the people to there's a payment plan going on but remember they have have one piece of it. There's nothing still being negotiated that they weren't really fully clear on what exactly is going on with that part right now.

Sorry. Say that again because I think people just didn't hear you. I think you kind of zoomed out just now. I think they have one little piece that they need to sort out. They have a payment plan working on with the claimant. So they need

to work out how they're going forward with that. I'm not sure that they're done because they said by end of the year, they're looking at a date. They're working out a date for final payment. Sorry, wait. This dropped today.

A while ago. I'm looking at something that says unaudited results for year ended october 31st 2020 that's 10 days from now are we in the future again because i just opened that same thing i think it's just a bad name on the file. It says October. I think that just means it's July. Yeah, it's July. It's nine months into July, yeah. Yeah.

So the year does end October 31st, not yet. And here's the profit. I'm excited. The profit is back. 20. TSC. They're a funny company I noticed they're doing a lot of changes

I suspect that who knows I think something interesting might pop up from them within the next two quarters yep or at their year end yeah

maybe in the in the in the annual report you might see something interesting so yeah i believe last year it was one of the things that we mentioned that boy it had them going through when them was telling us about road work but no no we are looking on which is what you said which is the the thing you always repeat, which is that, you know, a bad quarter is great because next year you're comparing a good quarter to a bad quarter if you're good at business. quarter losses and they've generated a year to date profit and i noticed a whole heap of board changes happening with them which often means a lot of different new directions so i look forward

to that to see you know it is who knows i could jump in in time it's moved since then you know so the result came out and it will ah yeah so it's up by it's up with the trading so you can't say not much people buying this right now and not much people selling it either the queue is basically empty hmm hmm I don't think it's up yeah

all those parties that people look at in a while ah Jamty you mentioned them before and I think we're about to hear from them Jamty and QWI another one that could be interesting Jamty has announced their split, so they finally

went forward with it, remember last time they postponed it and they're actually going forward, now they did the AGM and they voted to, they gave a date but they I think they're delaying on the on the buyback for QWI but Jamty

they gave a date on the split very interesting company same thing happened Jamty the big order is in the queue and people are afraid again everybody telling me I'm going to tell you today he was in Jamty. The big order is in the queue and people are afraid again. Everybody tells him, I'm going to tell him today. He was in Jamty and he saw the big order coming. So he sells Jamty and his plan was to go into Sepra.

I got it moved now because I made money now. I come out of Jamty and go into Sepra. I made money. So me. Jaja. Baby. You know that person? The one who learned?

So you're driving traffic? Mm-hmm. You're like, I'm sure've got to learn. Yeah, like when you're driving traffic. Like, I'm sure it's at the next lane better. Exactly. And then, yeah, it makes some good headway. And then him here, if I remember, he knows on the road. Say, boy, I know something to get through. Switch going to the left lane and the right lane start move. Switch going to the right lane and the right lane start move switch go out of the right lane and the left lane start move i say yo man now switch back in on the left lane i flow i'm sorry my going and it jump back to the left lane and the right

lane start fly and you make five percent in a 25 percent market yeah but sometimes you have to just hold straight and hold on to the pick and lock your eye if you're believing sometimes you have to just hold straight out and hold on to the pick and lock your eye if you're believing it you have to truly believe in it this thing is not for the faint of heart all the time go back to what you always said about your goal if you don't start there then you're not you don't know where you're going where you're walking exactly anything can distract you exactly all right i'm gonna bring us call this a short one because well not call it a short one because the truth is i'm trying to keep all of them nice and succinct. We'll have long ones when they're justified. But for now, I'm going to try to keep this short. So we're going to wrap it up. I don't know if you want to go first or I'll go first. What do you think might be a nice surprise for the market? Let's say between now and the earning season. So we know we have a month, November 15.

so we know we have a month november 15th surprise you can just pick one or two i'll do the same thing one or two that you think although we just mentioned a whole leap let me see if i can go with one you can't say separate i won't say separate either yeah i mean it's not really a surprise. Who knows? That's the issue. I'm looking for an actual surprise. Well, remember, surprise to the people listening, sir. That's the problem. Yeah. We do one and we keep it nice and simple with one.

I don't want to say jam tea, but I don't want to say jam tea because we just mentioned the split. Yeah, fine. Something else. Something else. We never mentioned. You think 138 might feel a fallout? I don't know how you were going all year.

We spoke about it earlier in the year, early COVID days. Yeah, you have problems. I'm not thinking I'm going to pay them yet. And that might start to set some issues with the actual big receivable line. I think I see people, they gave a big profit last time, but people know about receivable thing now. They're looking out for it. I see David tweet about it.

So, I know. Yeah. A big movement on 1-3-8. People know what, some people are looking at that specific thing right now. The man in my book, it has profit same way. The man of them legal guarantee you know remember that they've got court already about it you know yeah it's just when they paid the money but to me if good point if you actually if you actually think there if you actually look

at it a certain way then to to me, them getting their money. If anything, if they take too long, they start booking impairment on receivables. But to be honest, I believe they're getting their money. They go quarter to about 30, as you say.

And you itself, I mean, Corona, they boxed them early, right? It was an early match. They were talking actually about not only a bond, but raising a bond, which I don't know if they did.

They may have. I don't know if they did. You can follow that up if people are interested. But also listing, or at least listing something on one of the capital markets, because UE is regional. I think that the article was IPO. Yeah, that's what I was going gonna have that in corona comma hit them hard now if i was running 138 i wouldn't take no talk go borrow the money and pay me but pay me because we have an agreement

yep yeah and on the flip side if i was yui i would be buying up as many 138 SL shares as I can. Oh, yeah. That's the top said. That is the thinking that I, that's serious business thinking, right? If these guys might have the ball and chain around my neck then let me try and own as much of this ball and chain as possible yeah because i think they have a what might be an ironclad contract but that's not really the kind of surprise that we were thinking about right you know looking for good surprises, right? Yeah,

always. I think my issue right now is that either I said something already or... Well, say it again. People haven't heard from me in a long time. Remind them. No, I didn't say it already on the episode. Oh. Well, I mean,

there's things like creamy. Creamy, I think i never i'm supposed to mention it actually as something that happened oh running remember here what's up because surprise if you get the next good quarter creamy um to me no but i'm sure somebody listened to this just now and got creamy. The ice cream people. So they've actually been releasing some good results. Two quarters of full, strong, proper results after they had some issues before where they're doing some refitting the factory and whatever.

And finally, you know, you can see things turning around. And I think the pandemic has actually been good to them because they've actually been trying some new they've been pushing more into certain distribution methods. So they say you see more ice cream trucks. The actual outlets, they're saying the sales are running off in those.

I'm not sure where I actually heard this. I think it was David. Should I even say this? He was Is it around the land no the land they don't know if they're going to use it yet what they want to do with it that one yeah there's that article so i'll just share it for anybody who weren't interested in it in the um show notes they bought another piece of land beside them and they say you know we don't know we're doing with it yet but hey i think i thought about it i said that real estate is a rich man's game that's what you do right if you can spend the 50 million on a um on a piece of land beside it because hey who knows

maybe a couple years on the line we'll have some use for it but i'm about from now because i'm not making more land that's the kind of thing that rich people look at them can profit from it 50 years from now personally i don't know that. I don't truly believe that they don't know what they're going to do. I mean, yeah. That does, yeah. Especially with the company money. Yeah, man.

Yeah. Yeah. Big up the Creamy family. But let me tell you straight. You can't act sensible every day and then today you want me to think you're a fool. I already know you have sense. Yeah, man. You know what you're doing with it and you don't want to say yeah yeah cool i'm cool with that do your thing you i've been a i've been a good shareholder since ip1 i continue to hold a little bit as i listen to me so big up you people were creamy saying the people were talking about

the thing there they say the way they sell this up i saw a lot of mixed feelings on the way they're selling ice cream right now so people are talking about some people say also there's nothing in supermarkets they can't find cream and ice cream in supermarkets so some people were the speculation was going on both sides either we're not producing they're not producing enough or the stock demand is huge heavy people that were that like it they were leading toward the bond is heavy but it they what I heard from what I heard was that well from them hunting they're quite again bulk sales are where they get in it from so I'm the thing they're quite like and it's not the supermarket sales

are flat but bulk sales already getting it from so to me that further looks we look at his word who is buying bulk from creamy you can see the omelets stuff like that that's where okay so so people wanted to dig deeper can dig deeper yeah my thing is this the revenue real then get money for it Depot. My thing is this, the revenue real, then get money for it. If me sell car, you know, and my auntie come and buy every car off of the lot, she pay me? From she pay me, I'm a good enough. If she want, pack them up in her yard and boy, it's not real sales because your auntie, she pay me that was their money transferred yeah cool if not is it a receivable does she owe me cool that's all

i want care about as long as it's not a fake sale as long as it's not fake revenue i'm good as long as the law has not been broken i'm good she's quite three they're fine yeah yeah then then i'm good i don't care who you want to sell it to as long as it's sold for real i'm good um people can go further with that they can they can do if they choose to but i mean i continue to like creamy and i'm continue to be a shareholder from ever since yeah uh one of my what was one of my surprise you know let me say it since we're dropping this tonight um actually haven't spoken about this one a long time we spoke about this a long time ago i said no amg yeah i think amg is gonna surprise very very nicely um with far as I know, they're actually late with their results. Meaning they have

their, which quarter is this supposed to be? I think it's full year. It's Q4. But you know unaudited in 45 and audited in 60 or audited what was it what's the r i always forget the r or audited only in 60 no but you can't do that the audited change if you go if you don't go unaudited not say you're audited 45 sorry unaudited in 45 and audited in 90 audited and 60 yes yes yeah um and if you're not changing from what you did last year you don't have to give a notice you just do the same thing you did last year and they usually give the unaudited they gave you an audit last year so last year they gave the unaudited in the middle of October and then they did the audited at the November 30th. This year, October 15th passed and nothing happened. So as far as I'm concerned, they're late because I have not seen, maybe there's a notice, but I have not seen a notice and I've checked.

So yeah, I checked because I've been following it up and I didn't see a notice. So if there's one, apologies, I haven't seen it. I it up and I didn't see a notice. So if there's one, apologies, I haven't seen it. I haven't seen it on JSC's site. Maybe that's my mistake, but I searched as best I could. And so I'm expecting them to come with something now or at the end of November. End of, as far as I'm concerned, today, October 21st. Personally, I think they're late,

but i still um have high hopes for them meaning i think they're going to surprise not just with their not just with their um operations if you pay attention to the operations a very subtle thing that they've done they they've tightened up operations a bit even under covid they've kept things going and what they have know that they didn't have a year ago or a year ago is that they have a crap load more u.s dollar assets and their quarter ended so their fourth quarter actually ended august and if you check the u.s dollar rate at the end of aug August that was when we were going through that's before elections so that was when

oh my god it's crazy 150 or something like that in that region higher than it usually is right and it's not like say that again on US but and the US dollar assets that they have a lot of them are actually

it's not just US dollars put on it's notes with with broker actually, it's not just US dollars put on, it's notes with brokerage houses, it's actual instruments held. So the instrument itself, I'm sure has some profit associated with it. And then the US, the fact that it's in US dollars itself, but they report in Jamaican dollars,

you know, they're going to have to book that. Air quotes, not real profit of um of of fx gains but it's not a small amount you know when i say it's a lot i mean it's a lot it's like the man then put some serious money into it um and i have it and i'm expecting them to surprise us over i expected a surprise to drop already in terms of the unaudited and if you go back to last year you'll realize that what they or in terms of the unaudited and if you go back to last year you'll realize that what they did was they had an unaudited figure and when the audit came out apparently the auditors fixed went through properly and they actually adjusted it there's like just an example here i say that i have given you um like Q3 last year,

I say 50 million at that point. And then unaudited Q4, I say 70. And when the auditors come through, we turn around, no, it's actually 85. Yeah, so I adjusted upward. Now, I don't know if that's going to happen again. And I'm not necessarily banking on that happening again. However, operations, I think, are good enough despite COVID.

And I think all of those investments that they hold as assets in the U.S. dollars is also going to push them higher in terms of the value of it, the increase from whatever profit those investments give, and the U.S. dollar side of things, plus operations. I think they're going to have a nice surprise. And personally, I really wanted them to come out October 15 because i didn't want them to get lost in in the november noise either yeah i think a lot of things gonna be happening in november where not many people gonna be paying attention to like a small amg yeah but amg i can't see room for them being better off for COVID. Yes. Yeah, me too.

Me too. And they've been just quietly organizing themselves. The more I pay attention, it's more impressive. They're just quietly organizing themselves, right? Up to the nine months ended May 31st, their revenue was down, but their net profit before tax was up right and their full their full net profit after tax was actually down on the three months but up not down on three months up is 16 million on the three on the quarter versus same period last year, 14.

And on the nine months, it was 37.8, meaning up to May 31st, 2020, versus 35.8 last year. And May 31st was the middle of COVID. So March, April, May, they go through a full quarter of COVID and profits still increased. And they have what they didn't have before and if you notice them actually put it in them in an MD&A in a management discussion the asset base is almost 100 million higher yeah the thing that stood out to me though is that so many of those assets are now in US dollars actually did a little a little behind the envelope jotting down of it. And I could be wrong,

but I believe they have a strong amount of US dollar. And they make sure to say it. People paying attention, you can go check the notes. I'll put a link to the results right in the show notes, but then make sure to say, I'll read it. Note seven, sub 0.3. Current account, 65. Note seven. Sub point three. Current account, 65.9 million.

Savings account, US dollar denominated, 45.2 million. Cash securities with Alliance Financial Services denominated in US dollars, 26 million. Last year, the same period last year was 9.9. For the savings account, that's 45.2 in US dollars now that I mentioned before. Last year it was 16. And there is something else. Cash security with proven wealth denominated in US dollars,

57.4 million versus last year, it didn't exist. So cash security with proven wealth 29 million which also didn't exist the same period last year cash securities with alliance financial services 26 million which was 9.9 the same period last year 45 million in a savings account us dollars versus 16.4 million last year and the quarter august 31st 2020 ended with the us dollar rate higher than it has subsequently fallen down or whatever i didn't pay attention to these days but you're looking on when you look on the total cash and cash equivalents for Q3, May 31st, 232.9 million versus 74.9 the year before. That is going to surprise just on the strength of the denomination and the strength of the, I am hoping, the results of whatever those securities are. And then I think operations are still good.

Maybe not blowing out of the water, but they're still good. Yeah, man, I suspect. Yeah, I suspect they're going to surprise. And I see that. I mean, we're talking to you now and they're at $1.65, which back at the envelope, that's how. I know they're undervalued,, I know the amount of valid, but I don't remember exactly by how much.

I mean, the nine months of the matter PE of seven and seven, seven means seven cents. And even if I had $1.65, now this is not the correct PE. Let me say it again. This is not the correct PE. I'm dividing it by the nine months. This is not the correct PE. But even dividing by the nine months PE,

you have a PE ratio of 23.6 times, right? And again, that's not the correct PE. So the correct PE, I think likely pushes them below 23. I'm banking on them booking a profit, even though they didn't book a profit in their q4 last year i'm banking on them surprising on putting a profit in the q4 this year when i don't believe they did last year or if they did even if they repeat what they did last year that's even better but i know that they have a whole lot more assets now that they never have last year, plus operations I think are more efficient. That to me is a nice little surprise

that AMG is going to go. And I'm certainly going to act very surprised in a couple of weeks when they finally report. What are you asking if the man drop a wicked loss? I would also be surprised. Surprise is going around. Exactly. But I've been buying it up at the low level so there really isn't much

surprise i mean anything booker loss i've no issue jumping up but i believe that i suspect this thing is not going to stay below two dollars very long because i'm 165 i can see very easily going to two dollars 50 cents and being fairly valued and i expect that ice within the next results will do the folio results i think will show it i just hope it doesn't come out at a time when it's last in the noise of anything else i have to heat away longer just cut it exactly and so you mentioned two things you say you mentioned the also first on the jam t and what was the second one the last one uh the second one was

And what was the second one, the last one? The second one was... That's the one he gave me. Creamy. Creamy. Ah, yeah, yeah, yeah. Yeah, yeah. You're right in terms of I don't know what else is there to surprise because I feel like we've said so many things.

I don't want to overwhelm nobody but i think that's a lot of surprises a lot of things for the people that people listening to maybe go and check out and ask them at the brokers and advisors about um and other things that i can tell you that i am expecting a lot of money to come from and that i'm in i i do have shares in amg yeah i do have shares in creamy um yeah Yeah, I do have shares in Creamy. Yeah, a couple of things. Maybe if I second, I don't know if I did two. This I'll repeat because you guys would have heard it in the,

if you listened, you'd have heard it in the market review. I also do like T-Tech, which I think is a quiet company. And I was hoping that they would have surprised us with these results. They kind of, that was a bit of a sting but i'm perfectly fine with that because i think they're going to end the year nicely and the truth is even if they don't i mean i'm not in a rush with them but i suspect they're gonna end the year nicely and i also think that they are i personally think that they they have um a lot more to come definitely they've announced more with the data protection act that's right up there ali for one and they're with their clients they can offer that

service easily exactly and they can offer that service professionally and to larger clients who understand the value of it and of course the the the wink wink behind that is that clients who make money and can pay yeah so you know you'd have to worry there's continuity of income and they don't just make money in jamaica they make money all over but it's all right we can maybe do another show specifically on that another time but yeah um it's my two and i think well you guys can tell me i'm not even jinxing you guys tell us what you think so you hear us right again back again like that brown lady i hope you guys enjoy this episode then i hear anything you want to tell them uh no big up tuning you we're about this

go right all right so look out for it so thank you guys this has been another week of earnings season I'm Randy Rowe on Twitter I'm at RT Rowe and I'm Benaz Ejianai this has been earnings season enjoy well someone saw it I ask if everything all right I tell the bridge you know everything now all right and everything can all right free my people free my people now