Earnings Season - BrickTalk- Brick Rebirth

Episode Date: February 22, 2023

This week, Randy & Danhai talk about those stock market opportunities that rise like the proverbial phoenix from the ashes. They are joined by the CEO of a listed company that has done its own rising like a phoenix and a few retail investors who are serious about their money. Listen and enjoy…🤑 #BrickTalk📲Contact📲📧Mail - [e-mail]🐥Twitter🐥  www.twitter.com/Earnings_SeasonRandy - @RTRoweDanhai - @HDanhaiOfficial Data Provider 📊 - www.MyMoneyJA.com🔗Links🔗MyMoneyJA - https://bit.ly/ESZNMMJA (12 month discount included)GRWR Beginner Investor Workshop Link - https://www.everymickle.com/grwr(Enter EARNINGBRICKS at checkout for a 10% discount) Advanced GRWR Investment Workshop Link - https://www.everymickle.com/agrwr(Enter EARNINGBRICKS at checkout for a 10% discount)Danhai's Advisory Session (Automatic 5% Anniversary Discount Included) - https://bit.ly/ES2YREF ★ Support this podcast ★

The following podcast is for informational and entertainment purposes only. Nothing said on the podcast should be construed as investment advice nor should anything said be relied upon as the basis for any investment decision. Any reference to an investment's past or potential performance is not and should not be construed as a recommendation or as a guarantee of any specific outcome or profit. All opinions expressed by hosts or guests on the podcast are solely their own personal opinions and do not reflect the opinion of evermickel.com or any company affiliated with the hosts or the guests. Hosts and guests on the podcast may maintain positions and securities discussed in the podcast. Thank you. They do not take into account your particular investment objectives, financial situation or needs, and they are not intended as a recommendation to buy or sell any security mentioned. Speak to

a licensed investment advisor before making any investment decision. Good evening, everybody. Welcome. Sorry about the little hiccups at the delay, but welcome. I'm Randy. And I'm Denay. brick talk by giving a little preamble which in a lot of words will say that i am not a licensed investment advisor then i hall is a licensed investment advisor but while we are talking on this program no matter who is talking no matter what we say no matter who comes on no matter um how it might think like we're saying something or what we might mean i can assure you of something that we are not giving any financial advice at all only danai's license to do that and he's not doing that on this show just two guys who really like to talk about the market understand business and like to have a conversation with anybody else who wants to talk about the stock market

or business in jamaica or anywhere else in general. This is what the conversation is about. We're not dispensing any financial advice. You shouldn't buy or sell any security based upon anything we say in this program. You should only do that with the advice of a licensed investment advisor in an actual advisory session. And if you want to do that, I advise you to go to Danai in his capacity as an actual advisor set a set a set a appointment at dhalladvisor.com but please don't think that it's anything I said on this show this evening or any evening for that matter is financial advice we are not dispensing financial advice all right Danai tell me what to do we're a big talk nope

alright so with that said welcome I hope you guys can see me I hope you can hear me well if there's any sound issues feel free to let me know shoot me a speaking request on twitter welcome to the people who are watching us on stream

welcome to the draw subscribers who are watching us in that little private group of theirs when I still private stream. I have a watch party every week. And yeah, welcome. If you're on YouTube, also welcome. All of the video streams should be up. And if you have anything that you want to say, any point you want to talk about, any questions, any concerns, whatever it is, send a speaking request by clicking the link if you're on youtube there's a speaking there's a link in the description that says um twitter space space is linked click that send a speaking request there we'll approve it and

we'll have a great conversation because somebody said that YouTube bad. YouTube not so pretty, apparently. Yep. I don't know. YouTube's audio quality is poor. Yeah. I am so sorry for this. I'm not sure what it could be. I'm so sorry if it is, I'm not sure what it could be.

Honestly, not sure what it could be. It might just be a bad connection. I hope it is. If it continues, please let me know. Let me just check. In the meantime, oh, in the meantime, Danai, if you have, In the meantime, Danai, if you have any... Yeah, I did, but there's a bit of a delay. Delay?

Yeah. Can you hear me? Yeah, I can hear you what's good yeah so i think you can tell me about the usual question i ask you every week what's the most interesting most exciting thing yeah 1 30 a student within stock price oh it was coming out the gate kicking all right so this week our topic is uh it's not kicking, no? It's not kicking. It's not kicking at all, okay. Is the other one kicking? Not that. This week... Dead, dead, dead, dead.

This week our topic is... Right, it's issue versus appeal. No, Jesus. Like it is every week. Right, right. I think it was Jason, a son of Twitter, saying that. That I think the message that he was sending was, I think a message that Dana and I say probably all the time, how tired we are of the conversation.

Yeah, it's something that if you have gotten into it at any point in time seriously over the last how long are we talking about that and i maybe a year two years yeah yeah it it um really coming forward over the last year yeah i think i think what i've been saying since it started but really i, I think a lot heavier. If you listen to the Bricktop, not Bricktop, well, Bricktop, but if you also listen to the Earnings Season episodes, you've heard us go on and on about it and explain it. And I think maybe in the last year or two,

people have been starting to realize what we say and why it makes sense. And other people have been, I don't know, I guess maybe in disagreement with it. Maybe they want... Themselves saying why it don't they want... Well, cool. I think we can all agree, however, that anybody who wants to understand

at least our side of it, our position on the matter, you can certainly hear it by listening to any of the episodes that we have put out. And if you don't want to, if you haven't heard, you can go and listen to one of that. But not that we don't want to talk about it, but it's definitely not a major thing that we're talking about this week, nor any other week, unless there's something massive around it, or if somebody

wants to hear about it themselves. Yes, sir. So I'd like to say that that's definitely not what this week's topic is. This week is, you know, I'm trying to make sure I have the exact title. One second. I hear people saying that they have no audio on YouTube. Let me try and fix that. Okay, I'm going to try again. You two people, you can let me know if you are hearing us now.

I'm sorry, I know they're saying that the sound has been pretty crappy. I'm honestly not sure what to do. As you can see, we're actually doing it live. So I don't hear it. I'm hearing it fine and everything on my side is showing that it's sending. So I'm not sure if it's just a bad connection. I don't want to blame any ISP or anything, but I mean, we'll try, we keep trying.

Let me. Yeah, I keep trying. So I think that this week's topic is the brick rebirth, and it's pretty much us talking about anything that those stocks that... Actually, I was going to call it something else, but I figured, you know, like a phoenix. The artwork this week is the phoenix of the brick rising up from, you know, the phoenix rises out of the ashes. Is that what a phoenix rises out of? I don't remember. Yeah. Rick Rebirth.

Phoenix is rising out of the ashes of usually, I guess, previous calamity. We have a situation on the market, often, very often on the market, we have situations where we have people. I think my sound is definitely giving trouble. One second, people. I'm so sorry about the sound issues. Give me one moment, please. All right.

I am trying one more time. Hearing me fine, don't I? Yep. All right, fine. You should be able to also see me. And you should also be able to see my screen. Wow, this guy. This is what it looks like when you do it on your own.

Listen, the audio really is terrible. All right, I'm trying one more time. I'm hoping that the audio isn't terrible anymore. If it is, let me know. If you're on YouTube and the audio is bad, send a message, come in, tell me, let me know in the chat. Then you can still hear me fine, right? Yep. All right, perfect. So I was telling everybody about the topic tonight,

brick rebirth, right? I was really thinking about those situations that happen on the market where maybe something is known as bad or seen as bad for a long time. And then, you know, it's fixed or they're fixed or they get a turnaround in the business. COVID did this a lot.

COVID did this. This happened a lot with COVID with a couple of companies where, you know, things are bad. They're going through the crunch. And then they use that time to really get themselves set and put in a really much better place, a stronger position with their companies and rising out of that we've seen it I think maybe one that jumps to my mind was 2021 by the end late before the start of 2021 to the end of 2021 you saw a huge almost, almost rebirth in maybe CPJ.

Was that a great example of that? Yes, sir. Definitely. CPJ, which certainly rose out of the ashes of COVID. Yeah. Another example linked also to COVID, I think is is main event and i think main event is a great great great example because main event it just probably longer they're under there they're under the covid problem longer cpj was going through it and come out of it meaning it was still going through because of that downtrending sure because the lockdowns officially didn't really end until I think February March of 2022 and even then it you know it wasn't quite the same. It wasn't quite the same yeah it took a while to really start up and I remember it wasn't

like it wasn't even the first time we get a relax so remember we had a relax and then people expect and it would go right back in so the second time around people right boy i mean i really keep my event more than so connects to me but spend a bag of money and nothing really going so took a while to really start back up and for the last two quarters for main event you can see a lot of that coming right back money money money money yeah so main event actually put out their financials two days ago. The latest financials, their full year numbers.

And boy. True. Beyond 151 million in profit. Yes. And their losses in that year. So that's two quarters that's really pushing forward.

That is proper, proper money. So the first quarter last year, their first Q1 was a loss of 40 million. And Q2 was a profit of 20 million. They had a hell of a Q3,

123 million. And they wrapped up the year with 47 million in profit for the fourth quarter. Yeah. Yep. Yeah. Pushing them to, I think, easily their best year ever. Yes. Yeah.

I imagine. Yeah, man. Outpacing 2020 and 2021. And, of course, also almost almost almost doubling 2018 and 2019 uh yes so this is a great example of it and of of you know a company that found itself turned around and there are lots of examples examples of this on the market if you're serious about investing if you pay attention to the market for a while you know there loads of opportunities like this that come. Loads and loads and loads of opportunities

that come from time to time. I still see the people saying that the sound is horrible on YouTube. I also see we have one person on Twitter who sent a speaking request already, Dr. Bill himself. Dr. Bill, jump in and talk to us a little bit about your first point while i sort out the sound issues yo yo yo what's up guys what's up that's good feel there man

i like that um i like that main event point we're going to talk about main event though what you say now? what you say about 1-3-8? we're going to talk about positivity 1-3-8 well they might try to complete

the picture they might try to paint the complete picture of the topic for the night they might start with the ashes maybe they might go rise up oh why? burn it down one time picture of the topic for the night. They might start with the ashes. Maybe they might rise up. Burn it down one time. Make the ashes and then

I don't know. Maybe they'll have a big plan. Why? Anti-APO effect. Maybe they're going to prove it. Prove? Or maybe they'll do what needs to be done to make it sensible yeah yeah I wouldn't even say prove it wrong

but I think so the exception is a good scenario right and it has been done in an exceptional way before so it's not like it can't be done but you know the man them choose bravery and it has been done in an exceptional way before, so it's not like it can't be done. But, you know, the man didn't choose bravery.

Yeah, it takes a lot of money. Unnecessarily. My thing is... Maybe the more... Maybe the elaborate plan for a share, Baba. I don't know. Maybe, maybe, maybe. maybe it's an elaborate plan for us here Baba I don't know maybe maybe maybe

what do you think about it really like what do you think that like what do you think that we do with the money I mean

I don't know if they're going to take over other halls at UE or if they I mean they're very vague

in what they've said in terms of what their plans are. All I've seen is planning to go beyond student housing and outside of UWE. That's the universe. It's like, okay. I'm sure they're going to stay in real estate,

but besides that partnering with GK is interesting I think it's Jim and B did their IPO right companies change brokers all the time and they're cool friends with Tadiko right very much so both those companies are heavily into

unit trusts and funds and real estate and fun exciting stuff like that

exciting but 138 why I mean if you're going beyond student housing then you're holding everybody right so it could be a regular day gala I'm going to housing generally went to wider real estate place that that see the housing market I could just be clean be commercial property no no but another day then we do an APO to raise the money. Or if they are raising money,

it's going to be an APO. Unless they change course, which I doubt they will. I strongly doubt they'll change course. Yeah. I mean, profit for a retail shareholder has yet to be a point for anybody considering...

Hmm. For most people considering APOs, right? Correct. I mean, they say yes, they care about it, so I can't say that, okay, who am I to say that they don't? But how you act is action over word, right? Action first. Action is what matters, and we'll see.

What additional time 99% APO ain't one. APO ain't one. Trust me. Other things we figure out with Panama. Rather than put my head and money behind APO. Indeed. Boy, it's actually all for the market.

I agree with you. That's a heavy sell down the moment it dropped. Radom. Maybe somebody will tell you there are other factors. Not just the thing Within 13 minutes Right

Of an announcement But nah Something else 138 which 138 which is so illiquid To the point where That is why they're in the race One of the reasons

Yeah I love the thing But How do you feel about that though? Because Yes why they're in the race. One of the reasons. Yeah, again, I love the thing there. But how do you feel about that though? Because, yes, it's liquid, but the people coming in,

the money coming in, would very likely change based on the amount of dilution that they say they're going to put in. Mm-hmm. Yeah.

So the current sharehold, the current share base, I'm not talking about dilution on any one investor, but they are diluting the share base a good amount. 400 and something million shares now, 700 and something million shares I'm adding. So just about two times more shares I'm adding, right? Right. Yeah. That is interesting. You guys are raising an interesting point.

A few interesting points. I don't want us to skip over them. And I noticed a couple of people have their hand up. So I'm assuming it's the same topic that they wanted to talk on. Apologies to anybody on YouTube. We are trying to sort out the sound. I don't want the sound to be bad. So if I know we're talking on Twitter, I'll try to fix that in a moment. But one of the points I wanted, before before i forget it and then i'll get to

duffy's question because i saw she put her hand up um but one of the points that i think we shouldn't skip we've been talking for a long time about how responsive the market isn't so and you know i i have said publicly and privately many times you, things happen and you watch the foreign news and you'll hear, you know, Google is a great example. Google launched their own AI tool privately this week or last week, I think it was either last week or this week as a competitor to ChatGPT, which is another popular AI tool. And long story short, in the demonstration,

there was something that was not correct. It made a factual mistake. There was a factual mistake that it made in it. So like, you know, it said, what color is the sky? And it responded that, you know, the sky is, I don't know. Pink. Pink or shocking green or something, right? And immediately, Google deleted the video of them doing it and the share price fell and of course when they're reporting it in the news

them say you know this mistake was made it's embarrassing and the share price fell in implying that you know it's as a result of that and i always laugh at that because sometimes it is and on the more advanced markets it very much is often uh you get quick reactions but the local market is slow i've been saying that for years i've tweets upon tweets upon tweets but here is a situation where 138 put out what many of us knew was going to be an APO, but as the notice came out during the trading day, we saw it drop. Is it really a reaction to it, or is it just something that happened? How certain are you guys that that was actually a reaction to that news? I can't say 100%, but I feel I have a good amount of certainty.

Because it's more than a thing there. 1.38 is an illiquid stock. They don't have a very strong buy queue. At the point when the thing was announced. Anybody looking to sell at that point would have to come in. I mean, if you check before, you're not really seeing other trades hitting down to that level until that thing comes out so if it's going to drop then hey if it's not like there's a lot of a thing it's not like boy

it's give me a company that was a strong buy queue that the queue is the the highest buy say dollar the highest buy is very close to the thing there very close to the market price or generally trades one 1 through 8 was not that. So if I'm looking to exit, then I very likely have to take a strong haircut to push that thing down. why would I trade now? My idea is I wasn't doing it before, but the moment

this drop, I'm selling. Yeah. It doesn't mean that it's a lot of people rushing out. It just means that the person who saw that said, well, I am in for this to happen. Right. I think the liquidity factor in there brings that into it. If it was another company with a very strong IQ, then I said, well, then, you know, it probably wouldn't be such an easy thing for it to happen unless a lot of people are pulling their artists out of the bike with that in mind and we've seen it companies they generally the more liquid stuff

take a harder time to fall all rise when things when things that when any any one thing happens but any one thing happens that we call him to buy ourselves higher law so i i i feel that is that and but certainty yes one thing i can never know really i mean with 10 with 10 10 being 10 being is you is you who said

it yeah or you stood up beside the person who said it

it wasn't me no yeah that should make it clear that it

wasn't me either Phil was it you definitely not

I was one of the I saw an APO was coming so I wouldn't

have bought and if I had before I would have I would have told before this happened but i know that yeah if it was me if i had a client i was doing another

letter instead of either yeah same but i mean i'm not saying i'm not saying every case out of that kind but in most cases yes yeah because lead on skill Lee Dansky tweeted that within 13 minutes of the announcement, the stock halted down. So for me, it's a 9 out of 10. On that basis. Wow. Why? Bill Berg said. Very.

Wow. Sorry, you're saying 90% like it, right? I mean, of course, since then, we have seen... I don't know if it did hit the breaker again today. It halted again today, yeah. And it's going even lower. So you think it's very much a reaction to that? Well, I did say I was interrupting.

I saw Duffy put her hand up for St. Duffy. St. Duffy Neyar. And it's going even lower. So you think it's very much a reaction to that. Well, I did say I was interrupting. I saw Duffy put her hand up. It's St. Duffy. St. Duffy Noir. Sorry. Hi. What's up? Happy New Year.

Haven't seen you guys in a while. I wanted to say something about what Phil was saying. The diversifying thing with 138 about going into things other than student housing they don't have a choice okay full disclaimer um i am just going based off what has sometimes made it into public knowledge anybody anybody hearing me yeah we're Yeah, we're hearing it. Go ahead, continue. All right. The documents that they sometimes lose into public knowledge, I don't want anybody to look at me and think I work

with them or anything like that, but they have a lease with, they have a contract with UE for a certain amount of years, so they're more than likely approaching that time where they legally cannot provide student housing anymore like they were supposed to build up the place and then after certain years and a certain amount of profit they turn they give everything back over to ue um that's 65 years ago 65 yeah man i know i thought it was a lot shorter than that

no man I don't know monkey contract them up man I don't know if he is man he must do build someone in a five years he'll get back I don't know

I don't know that's another thing like they keep they keep changing certain things like retroactively

like they have the power to do a lot of, like, renegotiation for them seems very easy or a little bit too easy in my eyes, where it leads me to not have much faith in how the company is run. So that's part of the reason why I personally never liked how never liked the company and therefore not never like the stuff um seems easy like they get they get to they get to they get to do um i well i guess i don't know how much this would tie into the stuff but they get to do whatever they want a little bit too much like even if you look at and i know the other day they had our furrow with the residents some student residents if you look

at the contracts the leases that they have the students signed now versus something that started that they had out when they first got built they get to do whatever they want without any without any real oversight. To me, that would reflect in the APU. What have they done? Basically, it's just a series of them holding the handle and

whoever else holding the blade type situations over and over, which is similar to what... I else holding the blade type situations over and over which is similar to what i've seen the blade point that i mean think they're like how the ue itself has been a problem for them where and even renegotiated even renegotiated in what seemed like an unfavorable situation to them oh well you couldn't pay them Money that was owed For however long That they signed the contract to And then the re-sign was

You would get a little more power In this situation in some ways I can see that But for me We don't have to agree on it But overall The basic No I'm saying We don't have to agree on it. I feel like overall, the basic of the thing is...

It's there. No, I'm saying... A multi-billion dollar housing development is a lot of leverage. It's kind of hard to go back on a contract that you've made

on the basis of a company that has spent billions of dollars to build this place. And you tell them, I understand why you couldn't pay them but then they get them for those eat dirt right? You will get you will these are them problems. We all know between government and you how hard it is to get a bill out, get a bill paid right?

Between any of those two. So that has been an issue where you will say, government not paying us and then one creator said, boy, you will not pay we. But you never felt like they knew that going into that situation? Oh, definitely. But then wouldn't it go on the same side

in your argument then, if we do that? Well, overall to me... In the sense of their tenants their tenants who are shot in in in the contract you're saying right not only that it overall a lot of things that just how they're running it doesn't seem they don't they don't do things that would make me want to exercise good faith with them so i'm overall not surprised about the apo situation um i don't know i just wanted to say hi and come off i mean i can't i can't say that if they have so much problems, you invest in them.

Imagine investing in a company and you say, we can't get paid for two years. That is a big problem. I can see where you're coming from with that one. That would be a hell of a problem. Are you hearing me?

Yeah, I'm hearing you. Okay, perfect. Sorry. I wanted to say, maybe Duffy's point too hard i don't know i don't know if i understood it i know i think i'm trying to understand 130 really did hold a hand and does hold a hand in many a case it would appear that way to me from the outside anyway because of that same agreement that i have with you they had a

i i think a revenue revenue guarantee still have, I think. Yeah. So, yeah. I mean, that's an example of where COVID was hitting. There weren't, yeah, man, there weren't actually any students in the place. In the place. There's that guarantee that, yo, if their occupancy falls below a certain level,

you has to make it up. Would you say it's a bad thing for a company owner? I was trying to understand. I was asking if she meant in the case of the tenants because in my mind, I can't say. I think a revenue guarantee sounds like a good thing. You get me?

I think my assumption was that you're coming from the perspective of Yui or the students, Duffy. I'm not sure. What's that thing? I got failed. No, it was, it's not. Yeah, it's just the power of it.

They have the power. They're one of the, well, I don't know how common it is, but they're in a really good position where they get to guarantee a lot of things for themselves and consistently make things that give me bad faith in them instead of using what they can to their advantage. That's

exactly it. You are set up to win and you decide to lose. I wasn't going to look at them anyway, so the APL thing doesn't surprise me. That is fair. That's a fair point.

That's a very fair point. But hey, if somebody else can get the space, I won't jump off. Thank you very, very much. Really strong point. Because, yeah, people have sounded great on the rate, even myself, on the basis of, yeah, all these things sound good for them. But then how often has it been a case where, I mean,

how often has it been a case where, okay, the good thing is happening, right, or the thing that we want, the thing that we expect to happen based on all the good things. It often has run against them. So, I see a point there, Duffy. Cha-cha. Yo, these audios in the bike, you are

interesting, right? Tell me. When you say interesting, what do you mean? In the bike, you have one to read. Yeah, man, the bike, you have the screen there. So, audios five, audios four to how does five others four to nine orders four to nine big up my money j a for helping us to see this very clearly including the fact that you had halted down to that four dollars well others four to nine you said so

the four is like the first no one put five thousand at the queue exactly i don't want to put four five thousand orders orders at five If I can go on to put 5,000 orders, orders at 5,000 each, six times. So I put 5,001, then I put 4,999, 4,999, and that's together 10,000. I put 5,002,

then I put 4,998, that's together 10,000. I put 5,003, then I put 4,997, that's together 10,000. It's like it's a math brain. Is that OC? It's the strength of Dubai, man.

You know what that might be? Let me hear what you think that could be. Maybe the personal side numbers. Okay. I see we also have a couple of people sent speaking requests. Lopo and Sir Piggles.

That's it. Maybe two coincidence. Six different people. It could be. I have my own thoughts. Cool, man. coincidence six different people it could be healing morning um um okay

for you local for you It was a good, nice, fun week in the market. Okay. For you, local. For you. For us all. Why not? What is wrong? Have a chance to make another play every time we have a chance to be in the market. So, I think nothing wrong with that.

Yeah, I'm very... I would love to touch on one of the points you guys hit earlier with the conversation of it being shared in places that the APO is a great way to help illiquidity in a stock. It is. Yeah, it is. I'm not saying no. It's not the first place I heard that, though. I think that was a big part of the narrative with the KP Reit APO, saying that we, I remember in public dialogue with some leadership from KP Reit,

saying that we've explored different options and we did a rights issue before and i think there was issues with it being taken up and people who have the stock in a lot of our shareholders are long-term holders not not really interested in selling and interested in holding. So we have a lot. That includes the people buying the APO? That's the first thing I'm going to do. If you want to say that about the people that already own the stock, sure. But then when I ask for the public,

am I then assuming that the public has these stocks? Anybody buying into this thing? I mean, I would hope so if you're looking at an APO or whatever, I would hope so if you're looking at an APO or whatever. I would hope so. Yeah, I guess that was the attitude. That was the narrative I felt was coming from that conversation. And I've seen it already coming with 138. So what do you guys think in terms of equity versus you know i've never heard in a

business meeting where we're talking about the need for money and then it comes up that you know our shares are illiquid that's really a problem for us to solve in the same vein of we need money that's a shareholder problem so when i. So when I hear that put forward as a reason that this is being done this way, what does that do for the business? That's a good question. I don't know the answer to that. I would

hope that whoever is saying this can answer. But the truth is why stop having to solve? I mean, I'm sure there are good answers. I can give good answers. Bring more liquidity in. They have a shareholder base.

More people can think that. Then maybe later on, we can raise money easier because it's not just the same three people that own the stock. Own 90% of the stock that we have to raise from if we're doing that, right?

So bring the public in. If that's the thought, then sure. But I would hope that when you consider that, if the APO effect takes place, then

you would hope that the people that are then coming forward and they more buy more of the stock later down for whatever raise or whatever, suppose they had a problem with whatever was done in the past and this thing did.

And it's still a liquidity problem because then you dilute on top of dilution. Yeah, I mean, if you have a liquidity problem, I wouldn't be trying to exacerbate losing value for the people involved. My thing is, there's a logical understanding to me in my little novice brain about stocks which is ownership what do i own how much do i own um what do i want from it and um those things have to have

practical application and my thing is i i don't know of liquidity not being... I think there's a lot of opportunity with liquidity being solved other ways, but I don't know why that isn't a conversation if that was really being considered. I think FastRidge became a way more liquid stock with doing a stock split before doing any version of the raises that they want to do and believe other companies who well I mean Salada did a stock split and I actually haven't seen them action that into the raise as yet, but I think they made themselves more comfortable with doing it. And it kind of retains the value of shareholdership at the time. So I'd be interested to,

I think it would be an interesting ordeal to say, maybe we need to see what happens if we, we kind of loosen up the shareholding with a stock split to make more shares available and see what that does in the market without the dilution before I go to the dilution. Well, I guess I think the truth

is that it has nothing to do with liquidity. Just say you want to raise money and go about your business, it's about liquidity. Why the shareholder participation and all those nice fancy things? What's the point of that? In this thing where you're raising money,

what's the benefit for anybody? Oh, you know, you get to bring the public in. Tell me the actual benefit there. I've yet to hear it. The most I've ever heard, which is not that, it's we want to open up our options for getting money so we're not we asked just our shareholders we ask everybody for

money that's all night the better I said that because then that sounds like a real case of our cool we're not so sure we get this money whoever tell me how to get money nobody really said there's a possibility outside of this that or maybe then or maybe I don't know this thing so i and whenever i was talking about it well i look at my i said well my shareholder base is this and if i'm going to raise money on the market then in my mind i want to i want to put my thing to more people so you know again you shop you shop you shop more widely so you end up with more customers, something like that. Then, better you say that.

That sounds like, okay, that's something logical to the race, but then anything about liquidity and shares moving and who owns, what happens with this? Yeah. So, if it's how often shares move or anything, how liquid the stock is, then

if you tell anybody you want a wider net they better say that I've also seen dialogue to say that the pricing of the offer will matter which I definitely agree but I kind of I've heard that more than once over different places

the pricing of the APO is where the issue of the price comes in. I don't agree. I don't fully agree on that. I don't agree on that one. I think the issue with APOs has not been a pricing issue. It's actually the liquidity issue. We give a lot of people shares and those people

are then incentivized. We give a lot of people shares in a way that at announcement they're incentivized to sell and And they know they own a lot. And because it was such a wide participation, then the shares on the market are no longer viewed as thing there. Because we don't get to talk about shares in this new thing. So where is the market for buyouts? There's not any because everybody was buying

on the APO. When it's time to sell, what happens? You know, that's kind of what I was thinking on the line of agreement is that the valuation in terms of price is not just what pricing the offer is. It is

all of the ramifications of the market. The pricing cannot just be based off of a fundamental all of the ramifications of the market. Like, you have to, the pricing cannot just be based off of a fundamental metric. It has to be... I mean, again, boy, stop using that word like that. The idea that...

I mean, it's funny because in every financial conversation, we know that liquidity does have something to do with the value. It's why we talk about, my name again, demand and supply. That's liquidity. Right. Availability of something.

So if we then look at that and then decide that availability no longer matters in a conversation because the balance sheet and the value of the assets are really for profits that they think they're. That doesn't make any sense. Israel cannot because they ignore every other thing in finance or every other thing in economics that points to those things

as being material and fundamental for a foundation. I agree. I agree. That's how they want to touch upon it. Me both. But yeah man, good convo. We can't go and bounce it around. But then, so you're now saying that you're blaming the implementation and not the mechanism?

Can you just confirm? I'm not sure what you mean. Oh, no, no, no. Sorry, officer. Explain that one a little better. So it's not necessarily the APO but the implementation of said APO

that is a problem. I mean, you can tell from his tone that all I'm trying to do is give trouble. You see me? Maybe we have

an APO where he asks for one share. No, hold on. I'll say. The mechanism is called a dilutive secondary offer and the mechanism is the problem diluting secondary offers are destructive to to

share prices on markets all around the world all right i don't have a plan around the world. All right. I don't have up there. Down upon. Say that again? I don't have up among the MMGA money, my money market,

so I can't find examples. So can you just tell me an example? Stop, stop. Please stop. In fact, you don't see the word APO. There are examples. Let's have a nice,

it could change our pace, actually. I noticed Sir Dino Hines has joined us on the space. Indeed. And I think it's a great opportunity to talk to him. Come on, we're big things. Yeah. And Dino Hines, for the people who don't know, is, I don't want to get it wrong, Sir Dino,

so correct me if I get anything wrong, but I believe he's CEO of of mfs capital partners um and that is squarely in line with actually that's a company that is squarely in line with our topic this evening which is uh you know the the the rebirth is a company that has is i think maybe in its early stages of its own rebirth. And I think it's great that we get a chance to talk to him. Thank you for joining us. Dina, you can hear us? Yeah, man.

Good night, guys. I hear you loud and clear. All right, wonderful. Welcome to Brick Talk, Dina. And in case you don't, I don't know if it's your first time listening, but it literally is just a conversation, a regular conversation. So feel free to weigh in with all your points don't be surprised if people come in and they have questions or

points they want to make or so on so um yeah it's a chat think of it like a nice group chat yeah it's the first time i'm joining the forum it has been very interesting so far. Now that I know about the forum, I'll definitely be joining a lot more. I won't try to hog the conversation too much, but definitely if there are questions or I might pop in with a little comment here and there just to give my perspective on some of the topics that we're talking about. You know, especially with some of the, and most of my comments probably won't be,

well, I'll answer questions if participants have questions through MFS. Most of my comments will be mostly on other companies that are, you know, I might ask a couple of questions. Like, for example, I wanted to know in your earlier conversation about companies which are bouncing back after the pandemic, what you guys think about everything fresh. You know, I think you're maybe one of the few CEOs who've joined in, joined the conversation and asking about like stocks on the market. Oh, yeah.

Right. Well, I guess it's because my background and, you know, the areas which I play in and which I enjoy playing in, which is financial assets, stocks, bonds, corporate paper. So I really love that space. So I will be interested in anything to do with the financial markets. I'll have an interest. Okay. Well, you know what? I don't want it to be lost.

So you say what we think about everything. After the pandemic. That's a good one. Everything fresh. I think in my view, as my personal view, I think that they were not necessarily in the best state before the pandemic. Before the pandemic. Yeah.

And I don't know if they use the pandemic to get as strong as i think that they probably should get yes yeah and and i'm biased in that i'm comparing them i don't know if i'm biased i'm comparing them to cpj which is is is leagues ahead of them it would appear he's just looking on the financials leagues ahead of of everything fresh in and they are competitors right but everything fresh itself that i mean should investors know that the thing that is often great doesn't always seem great at first which again right on on target with our um our our conversation tonight because i said to danai all the time that you know it's when a company is bad that the opportunity really is there because if you get in when it becomes great and everybody know that it's great you're gonna get the same

returns as everybody else the real gem i think is to find a thing before it becomes great. But when you're seeing the signs that it is going to become great. Everything fresh. Federal tour risk. Yeah, man. Everything fresh to me looked like it started to get a little bit better underneath the pandemic. Even before the pandemic, they were doing some reworking. I remember they bought an abattoir, but that didn't seem to last very long.

And what else did they buy? They bought something. Some Barbados? Was it Barbados? I think everything fresh, Bahamas limited. Bahamas. But in terms of the bottom line, I mean, they still look like they have some ways to go, but

to their credit, the last quarter that they reported to us, the third quarter, it was a profitable quarter as as was as have been all the quarters this year first second and third and they are actually at this point at least looking at a 40 million profit which is the first would be the first time since their 2018 financial year that they would have made a profit if they can can um if they finish the year in the same fashion so from what what i'm saying to me it becomes attractive and i'm being very careful with that word to me it becomes attractive in the way that i find things that are not yet good

attractive because it is the process of getting them from less attractive to good that you find a profit right which you yourself would know having taken an entity that was in a bad situation essentially going through it and bringing it to a point now where we're seeing i know you can't say much about it so i'll be careful to ask but we're seeing a lot more hope for the thing let's say that up to the last quarter report i saw new revenue lines coming in i thought that was very very good and um a nice profit five million and a wonderful set of financials on time, no delays and acquisitions being spoken of.

That to me looks like the diamond in the rough coming a little bit out of the rough, right? Being a little bit more obvious to people now. It's a little more polished. Yes, it's a long answer to your question, but I like everything fresh only on the basis that it is something that i think is showing yeah the signs of improving but i wouldn't say as clearly i don't have any

money in it and i'm not necessarily rushing to put any money in there no but that's how i feel about everything fresh how do you feel about everything fresh do you know well i think um they have a good opportunity especially given the area they're in. You compare them to CPJ, which is a good comparison. CPJ is a much larger and stronger company with more areas and revenue lines and so on. But a fair comparison because they're both playing in the tourism sector.

I think the only thing, in my opinion, the only thing that will make them not successful going forward is if they have bad management and a bad management decision. But it's an area that is dominated by two companies, them and CPJ. And, you know, with tourism bouncing back so strongly,

the company has an opportunity to grow and to do well. So I guess we just have to watch to see the kind of management decisions that are being made from quarter to quarter. So make a decision. I think it will be a good story going forward. All right, I like that. Why did you pick that one out of all the 100-odd stocks on the market to ask for?

Well, I mean, it's a company that I've been looking at over a period of time because I think having, you know, based on certain companies are what I guess you would say they are kind of, I don't know if tangential is the right term, but there are certain companies which if you're playing in the financial sector especially in the foreign exchange market you take a look at them because um their their fortunes will move in relation to tourism and um you know inflows of effects into the country. So you're looking at companies like Everything Fresh and CPJ

which are direct contributors to the tourism sector. You're looking maybe sometimes at LASCO and the financial arm of Grace Kennedy in terms of Western Union and so on which are remittances, which is one of the largest contributors for an exchange. So we do take a look at them sometimes when we're looking at what is happening on the FX side to see if they will flow through to these companies and how it will benefit their bottom line and whether or not it is time to take a look at taking a stake in them. Oh so you're looking at it from the perspective of buying in? Possibly buying in? Right. Right. Okay. As in you personally? Yeah. Yes. Yes. Yes. Okay. I just wanted to be

clear on that before people said that you're talking about MFS. No, I can't make announcements about MFS. We know, man. I mean, just to add a little bit. I mean, MFS, the first acquisition we announced, MFS, the first acquisition we announced, which is a very active participant in the foreign exchange market. And of course, we're just waiting on most,

the company is a regulated company. So of course, we have to just ensure that we dot our I's, cross our T's, get our regulator approval. It shouldn't be a problem. All directors are fit and proper, so it should not be a problem. But it's an area, foreign exchange trading,

I mean, trading of all financial assets are areas that I think personally, boutique financial houses in Jamaica, there's a strategy that you can employ. And, you know, we look at international companies like Cantor Fitzgerald, for example, at international companies like um like canto fitzgerald for example um a company in the united states which when you look at their volumes annually in terms of trading in um u.s government treasuries and all of these things you know relatively to the larger institutions their volumes are really high because um you know they they make a concerted effort to look at just

very low risk to your balance sheet in terms of back to back trades really matching a transaction getting a trading gain on it whether it is foreign exchange whether it is foreign exchange, whether it is bonds, any asset like that.

Just being market makers on a daily basis and making profits and using your assets on your balance sheet for other investment type products. We believe in that kind of strategy and the strategy we think that is not fully built out or fully exploited by any financial institution in Jamaica. So it's a space that we think strongly

that we can be big players in. Wow. Okay. So that really, simplify that for the people that don't get it. And you said, boy, you said a bunch of interesting things there that I really want to start with. One, you made it, you pointed out the fact that you are, you're actually active in the foreign exchange market. You said that the entity that you're acquiring is active in the foreign exchange market.

Yes, yes. So I don't want to knock into the Forex traders, but you are the real Forex traders, meaning the active local Forex market, right? You're not... Right. We're not talking about, you know, international trading where you're basically doing margin trading. That's a different type of trading and a different type of risk

altogether. Nothing wrong with that. We can do that. We do have skill sets in our company that we can do that, but we're not looking to that right now. We think that in the local foreign exchange market in terms of finding earners of foreign exchange and matching that with end users of foreign exchange, there is a big opportunity there for us to take market share from some of the larger players who probably get a little fat and uncomfortable. from some of the larger players who probably get a little fat and uncomfortable. And we think that that's an era that we still have a lot of opportunity in.

So it's an era that we think our market share will grow significantly as our company grows over the next couple of years. significantly as our company grows over the next couple of years. I'm glad I haven't heard anybody talk about the fact that you call yourself a boutique financial house. I think it's extremely interesting. That's how you see yourself and the team at MFS as, right? You guys are offering boutique services. That's the plan going forward. I must tell you, you know, I should tell you, Dana and I privately

talk about this. Even though you guys have put out very clear timelines for the acquisition and the fact that you're acquiring it, I think a lot of the things that have been, I think it's almost been missed because last year especially in the last year was so exciting and this year you know of course at the start of the year it's still kind of exciting but i think people have missed the fact that what you said is something very very clear and simple that you guys have an acquisition and you're telling us that the thing that you're acquiring is already a new company, it's something that's already doing business and doing business in an area that you think

that you guys can grow. And it sounds to me like take over that niche. Yeah, because as we indicated, we're not, you know, the company used to play in the startup. We're not really interested in that area. You know, not saying that in the future. If we should look at that,

we will do that in a totally different company, right? Not a listed company. We think that in terms of a startup, those companies need time to grow. And I don't think you want to do that in the spotlight of a listed company. Why? I mean, remember, as a listed company,

you're accountable to your shareholders. You have to, more or less be providing quarterly, annual updates where you want to see shareholders want to see increase in value, increase in returns. Some of the startups, you want to give them time to be able to

trial and error, to not make profits, to come along slowly and then if necessary, you bring them to market or you bring them into a private equity space at a later stage of

their development. That's my personal perspective. I'm not saying another investor, another company would not or could not see it differently and bring it another way. But especially for a company like ours, which, you know, realistically speaking, has in its earlier life, you know realistically speaking as in its earlier life you know for want of a better word um you know had a very bad run at this time you want the company to start to have some wins so we're not really interested in um adding any startup companies um you time. As I say, in the future, we could change that approach as a team, if our stakeholders think it's time

that we can start doing that. But for now, we're looking to add fast-growing companies to our set-up portfolio companies so that the company within a year can start to show strong growth, strong returns. And that's really what we're looking at now. All right. I like that.

I like that. So you're not limiting yourself to what was there before, but you're growing in the areas that you know that you you're good at and so pretty much i mean that's nice like you're coming from somewhere bad but you turn it into something good and you're using the strengths that you have to grow even better uh i i i decided i didn't know which question to ask in fact i don't want to keep the questions to myself I know a lot of people who are joining might have

any questions I see Robbie Lawson just sent a speaking request Cliff what's up for you do you have a question for me or do you have a question for Danai or Dino I have a question for Dino

because I think I don't want to... We're hardly hearing you. We're not hearing you much. Man, you hear no better? I hear myself on your side because I'm hearing you. Any better? Mm-mm.

Mm-mm. No? Try one more time, please. Let me see. I mean, mute everybody on mute on me yeah you're hearing me now no no no but you're still hearing ourselves better all right let me jump off and then try come back on okay okay all right all right if i don't know i don't know if in the meantime anybody else dr bill sir pickles lo, you guys have any questions?

Good day, good day, Sir. Hi, I'm I'm the guest man. But if I was a prospective, you know, I want to get involved with your company. Is there anything in the pipeline

you think that would attract new stakeholders to your company? Anything that you want to tell us that might pique our interest as persons in the market? I think you just said that. Oh, man. in the market? Well, I think he just said I locked that wood in. Oh, man.

Well, let me not say it. We'll put this with it. Sorry, I don't know. You hear me? We're hearing you. We're hearing you loud and clear. Loud and clear. Right.

So you know that, you know, beyond the announcements that we have made, the announcements we have made so far, I can't make any specific announcements. That's why you see I'm speaking, most of what I'm speaking about is specifically to do with the acquisition that we have announced. But we have also stated that we have other companies in the pipeline that we're working on. And there are others which are close to signing off on. So, you know, one of the things about the journey that we have gone on last year and announcing ourselves to the market. Announcing ourselves to the market

and announcing that we're in the private equity space is that there's no shortage of deals that are coming our way. There's no, you know, purses are coming to us. Daily basis, almost, putting proposals, looking for private equity investments. And we just have to ensure that we're doing our due diligence and

ensuring that we're making the right choices as it relates to potential acquisitions. But I can tell you that, you know that if there is anything exciting that is coming, every acquisition that we'll be doing, we believe is exciting. And we believe we'll bring significant

value to our company. Okay. And as a follow-up question, just to make sure I wasn't misunderstood, speaking of right choices and additional corporate actions, how do you feel about rights issues versus APO? How do I feel about what? A rights issue versus an APO for your company. You know, that's what I... If I answer that question, I believe I'll be...

It could be interpretive. Let me just say... Let me just say that. That I think that as an institution, you have to listen to your investors and that's one of the things that we intend to do. I think that's the best answer I can

give to that. We have heard, I won't tell you what they have been telling us, but we have heard what they't tell you what they have been telling us but we have heard what they have been saying and you know we are listening and we intend to take their advice alright

alright I thank you for your time listen yeah you're not asking me to guess you're not asking me to think about Fesco no no I'm not forwarding you're not Hello? Piggles? I was echoing, so I was giving someone else a chance.

Okay, alright, cool, cool. No problem. Alright, boss. Much respect. Much respect. much respect I thank you Dino for navigating that answer very well let me just remind people let me just remind people that as happy as we are to have him join the space he's still running

a lipstick company so he can't actually say certain things. But just in case anybody didn't hear what he said, I'll repeat it. He said that he and his team listen, I'm paraphrasing, but they listen to shareholders and they intend to continue to listen to their shareholders. to listen to their shareholders. Yeah, and I've only heard, at least from the perspective, speaking from the perspective of retail shareholders, myself also being a retail shareholder,

I haven't really heard any retail shareholders asking for anything other than a rights issue. I know I am loud about rights issues, so I won't put Dino on the spot to answer it but i i'm happy that he said that he's listening to shareholders i think that's probably the best the best and so without crossing any lines sound good do you know make sense yes definitely all right perfect um and i and also that that you know i should ask something i think a lot of people don't know so like I said I think just because a lot of the noise that has happened

in the space, this is a company that has actually come out and said that they are acquiring another company and I think along the way it's gotten lost so just to make it ultra clear for everybody, your company MFS Capital Partners which is the listed company is acquiring

another company? Yes, we are acquiring Microfinancing Solutions. As we indicated in our release, the company is regulated by Bank of Jamaica, so therefore, we have paid foreign exchange based on our Cambria license. We are sub-agents for both MoneyGram and Western Union. We also do bill payment. So we do all money services, products and services to our clients and um we have

locations across kingston and we're actually companies actually looking to add um more locations so i mean um and before the end of this year we should be up to maybe five locations and what do they do what do you do at the location? Just to be clear, what does that company do? Foreign exchange trading and remittances and bill payments. We exited the microloan space and we're going into private credit. That's smart. Yeah.

You did that. Why would you choose that? Because I know the microloan space now is hot, but it's kind of, I won't say it's cooling, but obviously there are a lot of smaller players that are coming out of that space because they can't go through the trouble of getting through the BOJ's rigorous process. But you, I think you said you're already that company's already

licensed by the boj right yeah yes it's already regulated by the boj so it wasn't um it wasn't a situation where we were looking at where where you know um had nothing to do with going through the process of applying it was um more from a strategic perspective where we're looking at how can you grow your balance sheet quicker but safer. The microloan space has done well. It has done well in Jamaica and no doubt it did very well for microfinancing solutions. That was the first and only

product it started with before growing into the other product line which are which i mentioned um but you know the this piece it's a it's an area which you know it's when you, we have looked at the players in the sector and we have looked at... Hold on, guys, hold on. Do you think it's in a call? Right, no. All right, so while it's in a call, you unmute. Okay, you can hear us? Yeah, man, I hear you.

Sorry, a call just came in on the phone. So that's why I chipped out for a little bit. So I was saying that when you look at like a Cygnus, I know quickly they were able to grow their balance sheet. And these loans are unlike micro lending, which is unsecured, harder to administer, higher risk. You know, private credit, you know, comes with more secure lending. So it's less risky.

And also, you know, you're given larger loans, you're able to grow your balance sheet at a much faster pace. So we think that it's an area that we would want to get into right now. That's smart. So you're still doing the debt, but you're doing the debt along lines that make a bit more sense. If I remember correctly, in your last, in the last set of results that we saw from MFS, you actually mentioned the new line of business being receivables financing. So that's along that exact

line, right? Yes, that's along that line. That's the area that we think presents a lot of growth opportunity for the company. And it's less saturated. It's less jam-packed it's easier to administer because on like micro lending so we we're looking to grow an organization as I mentioned the the international models that we'll look at in times out in terms of building out our strategy. So we're looking to build an organization that has strong internal controls, but

doesn't require a lot of admin or a lot of back office overhead. So therefore you don't have to have a million staff to run a $100 billion company if we get to that level. Right? So that's kind of what we're looking at to run a $100 billion company if we get to that level, right?

So that's kind of what we're looking at in terms of our strategy and how we choose the different product areas that we want to get into. So, you know, overall, you know, I've been around for many years in terms of the financial markets, the financial sector, a lot of experience in the commercial banking space, investment banking space. There's a whole lot of different ways to make money, right? You just have

to, as a company, choose the areas that you think, you know, is best suited for the company, that your team, your overall team is strong in, and you're trying to hit those out the park, right? So we're not, right now,

we're not trying to be all things to all people. We're just trying to do the things that we do excellently and grow the business to our level. Any company that we're going to, we want to ensure that they have strong management, strong leadership, strong leadership, strong controls. We just come in and add our expertise to it and add strong corporate governance to these

companies and ensure that we're always looking to preserve and protect shareholder value. That's a good answer to me. That makes perfect sense to me. I like that. So you're not trying to, I mean, to me, that's how companies get massive, right? They don't get massive overnight.

Slow and steady is how you do it and you concentrate the efforts in the areas that you have a hell of an advantage in. So, yeah, to put it to people in a keen way a clear way i didn't realize that the notice had actually said it during the notice so the company is a sub-agent of alaska moneygram and western union yes and we are one of the we are one of the very first

company in um in in jamaica and we're not the first but we're not the very first companies in jamaica to actually offer both um both um other two leading um remittance products to the market right um and it was simple as us just asking right so first we were just on the money gram i was just reached out to western union and said, do you mind, you know, sharing a space with money gram? And they said, no, they come to view our facility. Jamaica, our new Kingston money shop is one of the best in terms of, you know, set up in terms of service, in terms of parking, all of these things. I mean, I guess I give you a free ad. I won't charge you.

And that's the model that we want to replicate across Jamaica. So you go into certain places and it's the lines, the environment and so on. You don't feel comfortable collecting them. That's safe. But our environment is top tier. And it's something that you know i don't like i said i have other things in terms of even for this specific acquisition that we haven't announced yet to the market so i don't want to say too much but you know there are there are ways that we're looking to add additional products um to the company post-acquisition. We're working

on those behind the background in terms of some international relationships that we're looking to bring. So, I guess I'll sign up by saying we don't plan to be sub-agents forever. You know, so...

Word. Word. I like that. And that's a company that is being acquired. How much other company are you acquiring? Just to remind people.

I'm 100%. Okay. Yeah. So, it's a nice, it's a, it's becoming, so MFS

is becoming truly MFS. Yes, yes. And, it's becoming the MFS, MFS and MFS come together. MFS? Yes, yes. They're becoming the MFS. MFS and MFS come together. All right. Yeah, and I mean, you know, guys, like I said, we have other pipeline acquisitions.

We're working on them. We just landed this one first. But I mean, another, we expect that another announcement will follow um shortly and you know i mean for for um for those persons who are new to to um to to i mean to me to myself and to the whole mfs branding you can just look back at a couple of things that we have said in the past, a couple of articles that were done maybe in like a 2017 to see some of the things that we said we were going to achieve and what we wanted to become.

And you'll get a roadmap as to where we are going in short order. What year did you say? Like 2017? Like about 2017, I think, if I'm not mistaken. Oh, wow. Right. Okay. Okay.

That sounds very, very specific. Very, very, very specific. Indeed, yeah. You all know it. It's like 2017, man. It's the first time you give me a month on the date, right? No,

which has, I mean, I remember, like, in about 2016, and sometimes, you know, it just reminds me,

like, when I left high school and I got my first job in a bank and I walk in the day and I sat down and I said,

you know, in five years, I'm going to be the general manager. It never happened. But I said that to say that sometimes your outline and strategy, it will take a little longer than you expect, but it doesn't mean that you're not going to achieve it. So some of the things that was set out to be, so if you look at, for example, Microfinancing Solutions website,

you will see where from who created the website a long ago, we said that our intention was to become a boutique pool service investment host and the premier investment and private equity firm in the Caribbean. So that was our objective

from way back then when we first created our website. And we think that, we know that we're going to be that, right? So we're not planning to just be a Jamaican firm. We know that we intend to be a Caribbean firm. And we think that a lot of firms, I think what we are looking to do, I think a lot of the larger firms, which have already established a large presence in terms of brick and mortar, in terms of the reach, in terms of their retail spread and so on.

spread and so on. We think a lot of those larger firms, if they did not invest in data over the years, then a boutique investment house which uses technology and so on to reach its target clients and

so on, would be the strategy that a lot of them would follow. Because you will see a couple years ago I worked at one of the one of the dominant investment tools in Jamaica and when we did an analysis right So we did an analysis back then and when they looked at the analysis, right? If you strip out the entire retail section of the firm, the revenues, the total revenues would fall, but the net

profit would increase. Right? Because a lot of persons don't realize and understand that being a large retail institution coming down, a whole lot of overhead, a whole lot of cost, a whole lot of structure. That's why I see companies like NCB,

Social Bank, over the last few years have been closing a lot of branches because of the cost associated with running these things. based push a bank over the last few years have been closing a lot of branches because the costs associated with running these things and technology don't don't make you don't need to do that anymore right yeah yeah i was about to say that you know so then i just that's one of the things that i realized that you're hitting the competition with pretty heavily, meaning your footprint is smaller, yet you're able to effectively give the same level of service that people would want. So as a result, your margins naturally would be bigger, right?

If both of us get in $10, but it costs me $7 to get the $10, it only costs you $2 to get the $10, their profit is naturally bigger. Yeah, that's correct. And if, for example, if you look into, for example, let's look at one of the products, right? Foreign exchange trading, for example. You don't need a branch in Manteca Bay to have 50 clients in Manteca Bay. to have 50 clients in Manteca Bay. You send two staff members to Manteca Bay for a week. You put them up in a hotel.

They reach out to all of these clients. They establish the relationship with the onboard client. And after that, when the client wants to sell, the furniture changes, they just call you, and you give them your wire instructions they give it their jamaican dollar instructions i just did a transaction right you plan to leave heavily on tech exactly okay i like that i like that i on that point though i do like that micro financing solutions has a website a I do like that Microfinancing Solutions has a website, a nice website that shows the rates and the services and so on,

microfinancingsolutions.com. But I got a message saying I should ask you about MFS Capital Markets. Not Capital Markets, MFS Capital Limited. That website, we haven't seen go live just yet. Oh, yeah. I mean, before the end of the month, it will be live. We had engaged the services of a technician to bring it up for us. And I think he was encountering some challenges.

But it will be live shortly because it's a requirement for most of it so um we will we um we're fixing that um so like i said you know i don't want i guess even though i said it i didn't want to have the entire conversation i ended up doing that so i don't think anybody i don't think anybody minds you I know you've done. You've been doing the interview run, I'm sure, for a good little while now. I should ask you this because always you get asked questions. If you could be asked questions, what's the question that you've always wanted to be asked? Yeah, that's a good one.

that you've always wanted to be asked? Yeah, that's a good one. I think a lot of persons will ask questions, especially when they're doing interviews. A lot of persons ask questions in terms of revenues, in terms of your plans and so on. But based on the current environment, what I want persons to ask me about and to speak a lot about, and I'm hoping that I'll do a forum on office person, working in back office, working in control.

So any organization that I am a part of, I we ensure that every transaction, every deal, everything has that as a situation where, you know, it's a dual approval process. It's not no one person can't, you know, do certain transaction, can't move monies in a particular way. You have to ensure that your reconciliations are on point. So it's a topic that I would love to kind of sit on one day and present to an audience on. And to, you know, I guess it's not something that it's easily, that you can easily vet an organization on. So I guess that's why persons have gotten so scared

in terms of their investment dollars and so on. You can't go to Scotia or any of these companies and say, hey, let me see your policies and procedures, right? So I guess you just have to trust the fate of the organization. But it's one of the things where if you're not on point with it, it can bring down your company. And you can look at a lot of the greatest. I can't remember that fraud now that happened at this company in Europe

where the guy was both on the initiating and the approving side. I remember I told you guys about it one day. But that is one of the things where you have to ensure that, you know, you're putting the infrastructure work and you're spending the money and ensure that your controls are there and that your compliance are there and that um your compliance function is really strong wow that's not what I expected here you want to talk about that light

are you talking about that yeah one thing we know so then I also is from that side it's notorious for the business side to not want to talk about that so it's pretty it's pretty pretty thing that it's pretty big that the business side is talking about wants to talk about that that's pretty strong yeah because you know you have to you have to you know what has happened has has shaken the confidence of you know the investing market so it's important that you try and bring back that and you try that persons need to understand that you know if you really dig down deep into it based on what we have seen so far we don't know what else will come about you have seen so far shows that it's a failure of your of the internal controls in the organization because one employee is not supposed to be able to get instructions from a client and another person in the back office

doesn't directly verify with a client that they in fact did send the instructions. That's a simple control mechanism that should be in every organization. I love that I'm hearing that from you. I think it's a good sign especially because, as you say, you cut your teeth in the back office earlier

and the company you're acquiring is under the BOJ and we know the BOJ don't play when it comes to their controls. Yeah, man. the fact that you've gotten and maintained all of those licenses from the BOJ I think is a great point because now

we're at the point now where BOJ is going to be the one running everything and overseeing everything and that I think is a testament to how strong the BOj has been on control so i am happy to hear you say that um i i really never expected you to say that actually i'm properly surprised that's the thing that you'd love to talk about wow

wow you mentioned that you're at a couple of places where have you been if you can say if you want to say or what what have you done in the past? Because I don't think people really know much about you. I mean, I was at a treasury at First Global Bank for a little bit. I was Senior Vice President at Mayberry for Treasury Trading and Asset Management. for treasure trading and asset management. Those are my two most recent appointments before becoming an entrepreneur. Okay.

What's your favorite? Everybody in finance wants to finance. What's your favorite thing? Well, let me tell you, I do love the whole aspect of treasure management because, you know, starting out as a trader, you know, and when you're trading an asset class, your focus is on that asset class, right? So therefore, you're looking, for example, at maybe, you know, the equities and, you know, what are the fundamentals or technical analysis for the equities?

Are you looking at FX? Are you looking at the traders and all the asset class and you're able to see you know the the actual flow of money and um you know where the flows are going and also you know taking into account interest rates and you know doing a gap analysis i think it helps you to make better decision in terms of trading all that stuff. So the trader can have a more short-term view because he's seen what is happening on the day or the week and so on. But when you're at the treasure, you kind of

get to have. So I love being in charge of the entire treasure management aspect of the organization. You know, being able yeah most a lot of people listen to really no finances so a lot of non-financy places pretty much that's the control of the money for the entire let's say a company or a machine yeah right so like so like if it was a bank and like we don't say you know two people in the bank

might work in in in just fine exchange but the head of the money for the bank has to think about the overall picture which is why sometimes you might see them making decisions that from a limited perspective don't seem like it makes sense but they are seeing a much wider thing so you like the macro view exactly so um you know, that's an era where you realize that almost all the financial institutions in Jamaica, the treasurer actually is in charge of the trading team. So all the traders and so on will report to the treasurer because he has that global view. He's the one that, if it is that, for example, just to give a quick example, for example, it's good to go long US dollar, right? Because the Jamaican dollar devaluing until you want to buy up some US dollar.

But the Jamaican dollar money market trader is short and don't have no money. You know, the treasurer have to override. The FX traders, they know you have to, even though you're going to make a loss,

you have to sell because with the Jamaican dollars, we need to cover our position. So, you know, some of those decisions, as I said, that persons will see maybe one side

and say that doesn't make no sense. But, you know, when you're looking at the global picture, you know, you realize. And it's also that person who other persons in the organization have come to. For example, the head of credit, for example, might want to disperse a loan for a billion dollars, say at 6%, because they really want to grow their loan book. That's his mandate.

He has to grow his loan portfolio. The bank tells him, say, I need to grow the loan portfolio by X percentage. So he comes and he goes to a company, and the company says, yeah, we borrow a billion dollars from you, but we want to have it at 6%. The treasurer will say, no, but why would I give you, why would I approve you giving a loan at 6% when the risk-free rate, which is the treasury bill or BOJ CD for some persons,

is at 8%. It doesn't make sense. Can you give out a riskier loan to a corporate when the government will pay you 8% on a CD. Or the treasury will yield 9%. So the treasurer is the one who also will set your loan rates and so on. So it's an era where for young bankers, young persons who want to grow in the sector is an area that persons should aspire to want to be.

Okay. I like that. All right. We have Alexa. Alexa, who joined us. Alexa Dana. The wealth nut. The wealth nut. Hi. Good night, everybody.

Night is so hard. Good evening. We can barely hear you. I'm using my phone. Hold on. Any better? I'm not going to do it without you. Am I any louder? Not really. Do you want to just use the phone directly? Am I loud enough? Not really. Not really. We can't hear you. You want to just use the phone directly?

Yeah. Well, I typed my first question in the chat. I don't know if you could read it while I do the audio. I was just asking about the real estate activity of MFS, which I know Mr. Hines has spoken about some time before. I'm wondering if you can share. Ah yeah okay yeah Dina I don't know if you if you heard her she's asking about the the real estate side of things because you spoke about that earlier I guess I guess earlier in the whole takeover process. Right, Alexa?

Yes. I think we did say, yes, that our core areas of interest are money services, investment banking, and real estate. So we do have pipeline acquisitions that we're looking at which are in that space. I mean, if you want me to, I don't have nothing to announce in terms of MFS Capital Partners, in terms of real estate, of course. I couldn't do that. But in terms of our private companies, I mean i can't just tell you that we have

already acquired we have already acquired significant amount of real estate in terms of um just acquiring them and we're looking to to move to the next phase in terms of those assets before the end of this year in terms of starting development of at least one of the lands, the parcel lands that we have acquired. Also, it's undeveloped land you have right now. Right, we have undeveloped

land. We have land that is we think they are very attractive in very attractive areas and so on. And like I said, guys, this is not in the public companies, you know, private companies. That we have acquired, you know, we have acquired in total, we have acquired close to 50 acres across Jamaica already. And these are prime properties that are already zoned for residential. So we just need to, as I said, we will need to get our architectural drawings done, get our approval from the various parish councils and so on

before we can start building. But we're hoping that at least one of them we should break ground before the start of the year, before the end of the year and of course you know we're going to make a lot of noise about it when we break ground. Okay, we we looking forward to that then i hope i hope you heard that i have one other question if i may um again some time ago you talked about well you kind of said that um earlier in brick talk where you're more interested in acquiring. But I think some time ago you had mentioned some interest outside of Jamaica. I was just wondering how that was going. I think you said something about Barbados and Guyana.

If you can, share. Yeah, we can share to some extent. Yeah, we do have, we have not signed off on anything in either country, but we're still going through the process in terms of due diligence. we we have gone to not myself but a member of our team

visited Guyana late last year we made a lot of connections there we have been having back and forth conversations, we think another visit is necessary in short order for us to kind of tie up something, so we're planning to do that

maybe before the end of March to do another visit. Because like I said, we did one visit late last year. We have been having telephone conversations with two potential partnerships in Guyana. And we think another visit might be necessary for us to be able to sign off something. Thank you. Yeah. Thank you. So, you know,

safe trip. I hope that's a very fruitful trip. Indeed. We're looking at, you see, one of the things is that you have to, I mean,

there are certain areas in Ghana and certain, even non-financial sector areas that are really attractive because, for example, we have been having

some conversations with a party that's in, you know, mining that has a whole heap of permits and land, has the permit, has the land, but need mining equipment. So, you know, he came to us looking at debt financing. You know, we talked to him and said, hey, maybe equity funding would be a better strategy. So, you know, the opportunity is there because you have to look down the road and

see what Guyana is going to need. So with the economy growing so fast and a lot of expatriates and so on moving to Guyana, you know, the housing market will be picking up in the future if you look into it. So expatriates and so on moving to Guyana. You know, the housing market will be picking up in the future if you look into it.

And with this guy having hundreds of acres with sand and all of these things, it would be a great opportunity if we're able to pull it off, but we just need to be able to pull off something

in short order. So we're working on stuff, you know, guys. Okay. Oh, sorry. You said you asked him, but what was his response? No, I mean, it's favorable, but you know, I think that's know when you're in this private

equity space sometimes deals take a little longer to come together because persons you have to sell a lot of a lot of these guys on the fact that yeah you're giving up um you're giving up a state but it will be a larger pie yeah so that's that's kind of what you have to sell people on because for a lot of them it's their baby. They have grown it. They have struggled doing it. They have brought it to a point where it is now something that other people are interested in.

So convincing them to say, give me 51% is a hard pill to digest. So it does take a little time sometimes to get that shiny object that you're going after. Well, you put it in the work. 51%, I like that talk. Yeah, see me? I really like that talk.

I like the question. I don't know if I have it right, but I think you guys have also, when you just start, wait, before I even move on, because you made a great point there. It is hard to convince private company owners to give up a piece of, regardless if you're 51% or not, give up a piece of what they have built. But you would have gone down the exact same road. Why were you convinced to do it? Because you didn't have to do it.

Yeah, that's correct. I mean, you know, it is, when you come out of the financial sector and you kind of get a feel of the capital markets, I guess it's easier because you have seen it happen so many times. Apart of committees where you have brought companies to the market and so on, and seen the growth of a lot of companies that have been listed on the statistics.

I mean, look at some of the companies. If you look at some of the companies and... We were talking about CPJ earlier. Yeah. CPJ, this was not CPJ today. Yeah. So you have seen it. So therefore, it's easier for you to say,

well, it's better to be a part owner for a $10 billion business. You know, you get it? You know what a pie smells like when it's baked already. Right. So I guess it's an easier decision for somebody who has seen it in action. So it's an easier decision for myself. Right.

Well, I'm happy. I'm really, really happy to hear that. I'm happy you're sharing the pie, sir. Yeah, man. Yeah, really Happy you're sharing the pie, sir. Yeah, man. Really, really happy you're sharing the pie. Lighter question. I noticed that your logo changed between the quarterly reports and annual reports. It's a completely light thing. But I noticed that you've got a nice logo.

You bring the bull in. Bring the bull in. Yeah. I do. a nice logo you bring the bull in bring the bull in yeah yeah you see one of the thing is that we have uh we have um we have such a a nice board of directors a strong diversified board of directors one of our directors our um our background is um in marketing and so on having worked in a lot of large organization um created um you know their their logos and so on so he was quite adamant that this is the the logo that she wanted and so on so i mean with i take the guidance you know i'm very happy that I have that team that I can rely on

to give my guidance Anika Jengele yes so the people on YouTube are seeing the last annual report that you put out the profile of the directors are there yes

so therefore we're looking to draw on our directors at the areas of expertise. We do have a lawyer on our board so we can draw on her for guidance in the areas that we need. So, yes. So, um, making sure that we give the people them floors and the name get called properly. Yeah. So, um, it is, it is something that we, we're happy about.

And of course we will, over time, as, as the company grow, we'll expand the board, um, more. So, um So that is the new logo is based on the guidance of our director, Anika.

I like it. I personally like it. I like the interest and the look. I really like the meaning yeah yeah very bullish well your share price has been bullish for a lot of people but i think there's even more to come of course none of us can read the future but if those plans that you're talking about come to fruition, then I think we'll all have a very happy time to come. Bring some shareholder value. Yeah, and, you know, I've looked at this exercise, this part where I've looked at it not as an overnight thing.

You know, I've looked at it. I mean, you know, I'm not trying to advise anybody. I mean, based on my position, I can advise people to buy my stock, not buy my stock. But what I can say is that we know the path we're on in terms of, you know, our long-term build and what we have in the pipeline

and what we know will happen in another year, another two years. And we're really excited about it. You know, being in a private company and so on, you know, is all good and well. But I guess maybe based on my personality, I'm excited to have to answer to our board, answer to shareholders.

I look forward to that. I look forward to, we have committed that the last virtual would be the last because our shareholders said they want to, they don't want that anymore. Yes, AGM is in person. Yes, AGM is in person.

And I look forward to standing up in front of everybody and getting beaten up if necessary or getting praised if it's warranted so I love that sort of attitude I love that you're doing that so you're not looking to move away from it at all

no we definitely think we're on we definitely think we're on. We definitely know we're on a winning path, right? And like I said, we can't say a lot, but based on what we have been working on, right? If 10% of what we have been working on, and I know a lot more light-eyed percentage of that will happen, but if 10% of what we're working on happens, And I know a lot more light higher percentage of than that will happen.

But if 10% of what we're working on happens, we'll be a $10 billion company in three years. Three years? Yeah. Somebody heard that though. Wow.

Wow, wow, wow. Big up, big up. Thank you. I don't want we're out. It's Friday know if it's a Friday evening You probably have some great things you might want to go do I like that you started off with a question about another company I don't know if you have any other questions

You'd love to ask, what's another stock that you like What's another company that you like Let me tell you In recent times I've been Buying some NCB And it has gotten beaten up a lot especially because of the fact that they have not paid any dividend this quarter the last quarter wasn't great but then i mean it discounted the last quarter base and the last financial year

but it has gotten really beaten up because um because um the lack of dividends and so on. And I looked at it and I was like, I don't know when they're going to start back paying dividends. And I don't know if this is the bottom, but they're going to start paying dividends at some time. So they're going to start picking up some, little by little. And if it goes on, we'll pick up some more. Whether it's

six months or a year from now you know Mr. Leach needs some dividends soon so yeah

yeah well I saw an article today from somebody I don't know the accuracy but I saw an article

in a girl group where somebody was sharing that I think he's selling his yacht where's the Dino go buy it no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no I mean, you have the side where there is the risk where their non-performing portfolio can increase

if it gets a bit out of hand in terms of the interest rate. But if you work in a bank like I have, you know that when interest rates go up, you move the rate of your loan product first and then the rate on deposits lag. So therefore, your spread on your credit portfolio will increase in the short term and benefit the institution. So, I mean, there is some possibility that, you know,

some of these financial institutions, I don't know if, I don't know. Some of these institutions like NCB or Scotia, which has those large loan portfolios, can benefit in the short term when interest rates move.

That's a true point. Of course, NCB being the largest. Well, it was technically. The problem there is that they're not pure banks. I think that's where you might see the problem. Yeah, that's right. Yeah, because I think one of the things that affected them, if I remember correctly, was their truancy.

Not the bank side, I think. For once, right? For once, the bank has been the problem in the years past. Yes, yes. the bank has been a problem in the years past yes yes so that's one of the things that persons should look at but I think there might I don't know when it will bounce but I think there will it will bounce is that stock

at 250 dollar before COVID you know so yeah it was it was I think that was 20 January yeah it was it was I think that was 2020 I feel it in 2021

sorry I'm looking at GHL instead of NCB but NCB hit those levels of 200 in 2019 so August 2019

it was around that level and it's a bigger company now than it was around that level and it's a bigger company now than it was in 2019 yeah I think it has really gotten beaten up with the dividend this year so I guess we'll have to see

I think any bounce in the stock will have to come with them starting to pay back dividends well you're smart you're getting in the work you're getting your shares in early while it's still way below its prior highs so i cannot that is a strategy and you say you're buying it little little so it's only like dollar

cost averaging to me which this is as bets go in the financial space nc NCB is not a bad bet at all, in my personal view. Yeah, I mean, if it is something that you're not looking to make a capital gains offer in a month or two months, if it's a more long-term plan. All right. I have one more. I see Dr. Bill himself has his hand up. So, Dr. Bill, I think the question is for me or for Sir Dino. Just a last question for Sir Dino. Good evening, sir.

Thank you for joining. Good evening. I was actually going to ask you to make sure that when you go to the next AGM, when you go to a live AGM, that you keep a hybrid format, but then again, I'm thinking by that time, if your plans, as you said, even 10% come to fruition,

I don't think I'll have a problem taking a flight. No, I think also with, I think also I don't think any company will go back to full in person. I think everybody now will offer some

amount of hybrid. Hybrid, yeah. It's way far. And the fact that you're leaning on tech in your business, it only makes sense to lean on tech completely. Yeah. So, sir, Bill, you might not have to send the jet after all.

Can make it online. Annual MFS. Big up, big up, big up. All right. Thank you for that, sir, Dina. All right, sir, Dina. If you have anything else you want to ask, I don't want you. I don't want to keep you too long.

If you want to stick around, you're more than welcome. No, I think that's it from me. I'm going to actually hop off now because I had another engagement which I can't push back. But I definitely will be joining in the future, asking questions and participating, not being the focal point as I was tonight. You're in good standing. We've had quite a few, especially in the finance field,

quite a few top players join us. So thank you for joining that set of them. Indeed. You're always welcome. Thank you for joining that set of them. You're always welcome. Thank you, guys. Big up, big up, Sir Hines. All right. What's good? I'm why everything good, don't I?

The man said three years, 10 billion. That's when I enjoy it when heerry goes that's when i go when jerry tells me he goes big up big up jerry uh guys if you just just just joining uh welcome it's brick talk as usual we've had we just had a wonderful conversation with dino hines from mfs, who was talking about just his own likes on the market, some of the things he liked, a little bit of MFS, and a lot of his own future plans, both private and some of them public. I hope you enjoyed it. And of course, we can talk about anything else that you want, as usual. So send a speaking request if you

have any questions or anything. Before Sir Hz joined us, we were talking about what is the hot topic of the week, the impact of that announcement. And it kind of fizzled out, much like the share price. But anything else, anything you want to talk about, send a speaking request. If you're on YouTube, check the description. You'll see a thing called a space link. Click it, send a a request and we will talk whatever you want more than happy to talk about it uh yeah that's our any topic sir piggles and sir and dr dr bill spoke before sir because i don't know if you had that another question

anything you want to talk about before you ask you know those questions that you know the man can't answer um no not really my work here is done you know but um i just come and get trouble and go on that's not right if you can't get um i'm gonna have to pick up some of those guest people come upon this you know and they're your people, sir? Yeah, man. We love to have them. The door is open to anybody to send a speaking request every week. We do it. It's not. Yeah, it's not. Make some calls.

This can't go on. I think I'm going to fly. So far. Please, please, please, please. They can't have them biggest cheerleading fan on it every week. And then they'll come on. Ask them to come on and talk. We love to from them we love to talk to them and you don't also you don't have to just be about fesco here we like you have other things oh i'll say no i was saying that from the

from the notice because remember somebody in the future right so message the email the message from observer about the Bunchies. SL is going to Egypt to discuss this APO thing. I said, Jaja, I'm going to panic here. I said, it has begun. And so said, so done. But people, just go on, hold your faith. All those who have 1, 2, 8, SL stock, keep holding your faith.

And I wish you luck. All right, cool. Trouble maker out. Big up. Big up, Biggles. Ah, boy. Least interesting thing you've seen this week? Least?

I said probably when I don't read Catalan, the least interesting one. You just move past. What? Let me try now. Least interesting. Say you don't remember those. catalan the least interesting one let's move fast but let me try now least interesting opening my money jay pick up those guys yeah completely pbs worth consider dividend for a purpose to accumulate every dividend for french shares that's that's shares. That might be the least interesting thing. But even though there is

the possibility of money there. Indeed. Are there any other perpetuals? It might fit somebody. It might fit somebody. If you have a lot of money, it might be great, right? Yeah.

Yeah, if you have a truly a lot of money. Yeah, perpetual. You know, as long as these companies are wrong i must eat that small food i must have something else going on for me well um i i actually had something to talk about it and i completely forgot it um not with not with the pbs but with another point on the market

and i'm just going back to the point that dino raised the very first point that he raised when not with the PBS, but with another point on the market. And just going back to the point that Dino raised, the very first point that he raised when he asked about everything fresh. And he spoke about, you know, how they're, yes, they're like competing with CPJ, but the whole tourism thing, I think, yeah, man, that's exactly the point I was going to make. You know, rising tide lifts all boats. And I think that oftentimes we talk about tourism so much that it just becomes like a little mouthpiece thing.

We just repeat. It's just like a soundbite. But we forget that, you know, really and truly, there is massive, massive, massive impact in coming from the space. And I don't just mean in U.S. dollars, although that is, of course, one of the great things about it. But there's massive impact coming. I was glancing through CPJ's latest results

that I think came out today. And they were saying, they had a drop in profit, but they were saying that they are anticipating an unprecedented, I don't know, I'm going from memory. I should just open the results and say, but they are anticipating an unprecedented rise in tourism locally,

I believe, as in the MD&A. And I was thinking about how true it is and how normal we take that nowadays, that, yo, there are hotels being built like crazy, which imply a whole heap of knock-on things, right? I mean, those hotels are not going to stay empty. Those people that go there have to eat food. When they're there, they have to enjoy themselves. When they're not there, they have to go to things like Dol like Dolphin Cove right how many people you think visit Jamaica and get told on the

tour bus that Jamaica have the the best KFC in the world every most what percentage of anything stop on by KFC right and then you know right JBG when you think about when you think about like the fact that as much as we from both about oh this water better than that water like the water in jamaica is or doesn't matter to better than or than water all over the world yeah um even 10 percent even 10 percent 10% thing really sir it surprised me too the billion I like hearing

I like hearing the billion I like hearing ambitious ambitious plan and I really like hearing that Diana point wow I don't think I've heard or read anything like that

anywhere before yeah dig up this data if you just join you don't know what you're talking about or if you're watching on YouTube just don't know what we're talking about. If you're watching on YouTube, just skip back maybe 30 minutes or 20 minutes and you should hear that conversation. But going back to the CPJ point, they're saying that they're preparing for the unprecedented expansion in the number of available hotel rooms,

some of which are already in the advanced stages of development. So that's a company who is linked very much to the human side of tourism, meaning actual bodies that come into the country, everything from the toilet tissue to the food they eat to the drinks. So they have a full experience. And so they have a full view of what it means. And if they're excited and they're them said I'm increasing them trucking fleet

and I'm upgrading infrastructure it's like you know the crowd coming so they're prepping and I'm using that one it's a bad rap

it is Jamaica's rising tide yeah and it and well of course the constant which is the money

from fine which is funny because as a year MFS MFS is going into that buying 100% of that company yes sir but then I realize that the smallest percentage in mention a while ago in his over in Ghana it's hard to convince a man to give you 51 damn damn that's a subsidiary damn anyway so this wasn't a boring point at all

but it was a nice tangential point in a set of results that didn't necessarily look that great right I know people see this on VIX yeah before this wasn't so happy though was it it was it was mostly flat it was 1.6 million us um which was the same as it was a year before roughly yeah you think so no i mean what we see i mean in terms of like profits, I was sure.

But the company? Not by a mile, bro. Not by a mile. Don't take it light. The profit, the revenue is increasing. And even though the revenue is increasing, extra was at roughly 5 million US

in revenues. I look at this as always. If it's not quote-unquote good now, well, that's a good deal. I always find that point interesting, just on the view to the longer term. I think people always think it's a bad thing. Boy, companies, if it's a good company for the long term

and it makes a share price going down, no, it shouldn't be VIX. If you really have a long-term view, you are getting the deal you want. You're getting the, if you really think somebody is selling this stuff, call him stupid, call him chaotic,

two years down the line or one year from now. Exactly. Right? Oh, that's it. That was so to me. Thank you. Thank you.

Exactly. The market becomes a whole lot easier when we realize that the person on the other side of the trade is not an idiot exactly not stupid um yeah so selling isn't bad and yeah what what a hell of a story of cpj a year ago was roughly roughly $20.31 Yes, around half. Yes, it's about half. The funny thing is, you go back a year before that and where we are

it was three times that. A year before this was a third of what it is now. Yup. It's so funny that kind of perspective because that looked terrible just now until bring it on to where the way to come from it's like a 50 cent a 50 percent drop but then the girl grads who know this story buying from early 2021 yeah and some of the nice customers who know this story. We ate.

To them, $11 is a nice 3x, 4x, or maybe 5x maybe if they're skilled. If they're skilled, you can get a 5x out of it. But yeah, the market is wonderful and this is a great example of a rebirth stock, if you will. Rebirth in air quotes. Wonderful nonetheless. Yeah. a rebirth stock if you will rebirth in air quotes but yeah wonderful nonetheless um

yeah but tell me you know think about a rebirth story that you might know rebirth yeah all right actually that's a very interesting one yeah i mean mfs was obviously one and i was very happy to the stars aligned having him on. I've seen him on the timeline, and I see people pushing him. Read the Phoenix Company. Won again twice. Yeah, man. Oh, God, man.

Nothing's that Christian. Yeah. I want to make a comment, but I'm trying to be more mature. I'm making a comment in the girl's group. But, yeah, it's a hell of a turnaround. This one looks like it's actually

stuck. Key insurance is a good one. Yeah, you tell it. Key insurance. It was going through it always in problems regulator about running back losses on top of losses on top of losses and the company was it was looking like it was looking like boy either we're shutting down are we getting bought out i mean it was it it even felt like i don't think for me but i think a good amount of the market was because

felt like i don't think for me but i think a good amount of the market was because i thought no faith in key insurance remember that this company why would you buy that it was it was really the company like yo this shouldn't be listed all that and then gk shows why rebirth the giant coming take them under the fold give them some money bring them back up and the interesting point key insurance really holds that three dollars pretty thing there and then look and i look at the valuation note three dollars before the when the problems were when three key insurance was rich at three dollars one time all the p is 10 so it was coming from the point i mean it was lost its own so i couldn't even take that at p it was why this company trade not treat us it should be people are, we really can't expect that this thing worth anything more than the assets that are there.

And then, no, it's still growing. Since GK has bought in, it hasn't stopped growing. Year on year. So, yeah, proper rebirth. As much as people don't really look at it right now, it's also something I watch very interestingly. Especially because it's a part of the GK group. It is not an outlet for

the whole insurance network. This is a piece of the pie that has to eat a certain level of food that they get into the business. So the more GK groups and it benefits across the whole GK group, no matter what. Correct. And you know the insurance

game the insurance exactly exactly that oh yeah yes you're saying exactly what i'm saying the insurance game the insurance game benefits from scale exactly earnings season listeners remember this from jesus at this point maybe four or five years ago we said four or five years ago before key before gk we were talking about this as the thing to buy before GK we were talking about this as the thing to buy because yo somebody should buy this and somebody must buy it

and eventually it happened they got bought and GK as I said insurance benefits from scale and GK of course has an entire insurance and they have grown and continue to grow significantly, which

means that the GK group, I suspect, is either benefiting from or will benefit from more scale. I don't know. In fact, off the top of my head, I don't know if GK is reinsurance. In fact, GK just said something about insurance. Really? What did they say?

Can I remember? I don't properly read it i know that they and i know that the last big massive thing that we know about with them and insurance is that they bought all of scotia insurance for the eastern caribbean i'm one of the's recent actually let me get my money i'm glad about insurance specifically i think so i think one thing that i've been wondering about with gk now is is those funds uh yeah the unit trust that that that i think people have forgotten about that they're coming with i actually think about them them being the lead broker on on um the late 138 sl and i think that i think i know that i'll go through this fact it's not even my point because jerry who mentioned because i didn't set it out

or anything is thinking that you know i don't think i wasn't even going to that i was like i was just thinking again that throws again into insurance because if gk takes a stake here it only makes sense i didn't that it's property insurance that comes further into this. If GK throws a stake in there, it only reasons to me that at some point, once we're getting better, whatever the expansion plans, it's going to be real estate in my mind. So that's another thing that falls under the GK group as insurable money that will stay in the group. I mean, we're purposeful then. Yeah, yeah, yeah. It's like it's continuity of income window.

It might not look that way because it's very likely that they'll... But hold on. I mean, 138 is heavily Sajikor, no? Mm-hmm. I've also been wondering about that. So Sajikor is The number one Shareholder in 138 student living

I think that might change That would be very Very very interesting if that were to change Okay will they lose the number one spot I don't know but the level of dilution That's about to come If Sadricor Wasn't interested in going to a certain level What GK is One of the reasons for if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if if

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if if if if if if if if if if if if if if if if if if if if if if if if if if if if if I'm a good job, I'm a good job. I'm a good job. I'm a good job. I'm a good job. I'm a good job. I'm a good job. I'm a good job. I'm a good job. I'm a good job. I'm a good job So you screw the non-fundamentals. But in this case, I don't know. Because I'm thinking Sajikor might not want to lose that kind of business, right?

Do they have that kind of business? They might not stay where they are. Do they? Does Sajikor have that kind of business? Do they? Does Sajiko have that kind of business? What do you mean? The property insurance. Yes. They used to have things there.

They do have things there. They have Wi-Fi again. They have... Is it AJIC, man? AJIC, yes. AJIC is there. Advantage General? Advantage General. I know for a fact they do things there. Yeah, man. They do things there. is it aji them hic yes hic is the advantage general advantage general interrupt i know for a fact i do the thing yeah man they do think that they it's also i think that interesting point

i did mention i did mention it to you privately or something about that but yeah they did that same thing there they were white again remember they they were largely white health and health and life. And you know that so much has to be removed. So they bought into HIC and that's where they pushed it. What do you call that now? Insurance? A different type of insurance. So I'm thinking about that reinsurance point and I was trying to edit myself because I don't know how much I want.

So one is along the lines of my research. Two, I think about that same point you said you were wondering around GK and insurance. So if insurance, I remember an article that had the head of the IAJ, I believe. I remember the picture had Peter Levy on it, who is, I think, a BCIC. This is a property insurance crisis from two months ago. When I saw that article. What were you thinking about it? I was thinking about... I must admit, I don't know a thinking about it? I was thinking about... I must admit, I don't know a lot about insurance,

but my understanding is that... Well, one of the issues was that that seems to be happening is that a lot of the reinsurance is becoming... A lot of reinsurance is big international companies from Germany, etc. I'm just sorry not to lose everybody. It's quite just so people can understand it.

And I'm reading from the article here. Reinsurance is a practice whereby insurers transfer portions of their risk portfolios to other parties by some form. That is the most complicated way to say it. The insurance company. Yeah. Insurance reinsurance is. It's a big, it's a big,

it's a, yeah, it's the big insurers who are taking on massive risk. And then think of the smaller insurance companies buying. They're, they're being insured. So when you buy insurance on your car from, let's say your insurance broker, broker is actually insuring your policy again

it's yeah it's being insured again by a bigger entity and so you pay to your broker and your broker pays part of what you pay over to them sometimes you pay to the broker the broker pay to the insurance company local pay to pay to an American guy, and then American guy pay to a thing like that. I don't agree. What you're hearing now is that

and reinsurance also looking at the region kind of side eye. I didn't get the perspective that it was the top top reinsurance it was the the middle

the middleman for those guys that we pay over to so GK scale might matter more there right for anybody scale that would explain why those companies well like GK and so would be

scaling up yeah because and there's opportunity there. What about the middleman? What about GK Re? Sorry, say that again, Phil? Looking forward to hearing about GK Re.

What's GK Re? GK Re. GK Re. What is that? I'm just making up a reinsurance name for a GK reins, R-E. What is that? I'm just making up a reinsurance name for a GK reinsurance company. Okay. Most reinsurance companies name Re, right?

So you might not. Man, we're far off the mark there. Too far off. Yeah, yeah. So you're saying you're thinking GK could do that? Yeah, that's what I was thinking when I saw that. That Peter Levy article that I can't find. I have it up on, at least I think I have it up on screen.

It was a comment made by one of the Caribbean guys, actually, at the IAJ. I don't know what it is. I'm skimming it out. So I'm sorry if I'm not getting it all right. But the part I'm highlighting is the important part here where he says specifically to Jamaica, you guys are in the headlight a little bit because your rates have not been adequate

and reinsurers have been pressuring for the last couple of years to push up rates. So simply put, the bigger heads outside charge a grand to insure a car. In Jamaica, nobody can afford to go to a grand. Like, our smaller guys, and I'm saying smaller here because not smaller in the context of Jamaica, but in the context of insurance.

They know that that's not where the market in Jamaica is. Put another way, anybody who go foreign, foreign i know about foreign like even just vehicle insurance in america it is a it is orders of magnitude more expensive than vehicle insurance in jamaica so the insurance rates generally in jamaica have been low but if the overall market is low you know one player can't necessarily be charging 500 000 for the same thing that his competition is charging 100,000 for. So, I mean, whoever does that loses a lot of the market. But the reality is that it's kind of that, you know, the rates kind of have to be at the 5,000, not the 1,000 where they are. And it hasn't really been fixed. And so a lot of the reinsurers

are pulling out. But I'm saying all of that to say that it might actually be an opportunity a crisis for one person is an opportunity for somebody else right um and so i wouldn't be surprised if something like gk is in there i mean i i going off even the small things look at the banner in the background key insurance is right there which brings us back to the same point that i was saying gk insurance is also all within that group um i think there might be the opportunity for reinsurance with to to to pop up there in fact don't they own our insurance who owns our insurance company in europe right now jordan no my realistic company does i want to gk does

i think it's gk what i don't want to say is uh is it a demar garden i think it's gk i think it's actually gk i don't think it's a record i think it's actually gk it's not so required yeah man hold on we can't check yeah we should check by the way if you want to talk about anything else, you want to talk about another company, another stock, whatever, send us a speaking request. And we'll send a speaking request. Really does.

I opened the stock exchange website, and then I realized I don't know where the hell I need to go for it because they're not very happy to read it. It can be difficult to find sometimes but they're trying give them a chance they might have improvements going by the way that's something that should be mentioned

let me pause I mentioned that the JCSD portal I think just as retail investors that's something that we should be aware of especially in this time. So the JSC did launch this week their JSCSD portal. What can I tell you about this in a simple way? I mean, they tell you how to do it.

Go to jcsdportal.jamstockx.com. I'll say that again, jcsdportal.jamstackx.com i said it again jcsdportal.jamstackx.com if you're watching on youtube or on twitter or any other platforms in the future you see there at the top of the screen jcsdportal.jamstackx.com um if you have a j trader account if you're the broker that has a j trader account uhTrader info works here. Simply put, it can help you to verify some of the information about what you should know, about what should be in your account. MyMoney.j helps you with that too, but I cannot. This is a good step from JSC. It helps people to verify a lot of the information. I think a couple of weeks

ago when I had Chris Berry on, he mentioned that the functionality always existed. And this week, the JSC launched this portal to make it easier to see. You can set up your dividend mandates and you can do a lot of things. So I'd encourage people to actually go there and do that so you can know what's in your account. And if you are with a broker who is no longer able to trade, you probably want to go on and check to make sure that what you think is in your account is what's actually there, right? And to help complement you with that,

set up a MyMoneyJA account, MyMoneyJA.com. Set up an account. It will help you very, very much. And if you have a premium account, you will very, very soon be able to check it on your app. Some of you already can, but the grow-out subscribers can, but more people will be able to check it on your app some of you already can but uh the

grow subscribers can or more people will be able to check it on their app very very very very soon very very very very soon i can't emphasize how much very soon is i over emphasize it anyway then i find the point yeah oh no but there is a oh god i must have lost a new point you're looking at you're looking for this track we just know no man that's something hit me or something that may come this right now away from me nuts for the re i think that's a name out i think that's a teacher looking at here i know but there's something else there's oh yes ssl people uh so i spoke with a client today who has an ssl account and you know the interesting part what's that i don't think it's a money

disappears situation it's just an inconvenient situation she goes on her day trader and she no longer sees her ssl thing there ah ssl her ssl jcst number so if you have if you have an sL account If And you actually still see Your On your When you go on JTRADER You still see the SSL account

Represented there Let me know I don't know if it's a If it's a thing unique to her I think the JC Shouldn't take it off I don't know if it's a Problem or not

You missed some of the news You missed some of the news Maybe like me You just I don't know It's suspended But It was suspended

And I think But then the person can't go on and just the person's wondering what's going on because the thing that is appearing in front of them you get me let's make it gray out i can't use it something like that instead i can't i can't know what's going on it starts there anymore you get me so that's a well there's this addition that well i don't know if maybe that there were or we're not able to do that i actually have an ssl account i should check it i'll check it when we get off stream um I don't know if maybe they were or were not able to do that I actually have an SSL account I should check it, I'll check it when we get off stream I don't mind if I know something

I will talk about it when I'm off here but no I had signed mine up way back in the day I actually signed it up because I ran and he as I think he has tweeted is true at least I have not lost anything. But all I had there was stocks.

And stocks had the teeth and it even had to pay attention to it. And I do pay attention to it. So it's still there. At least I still own the stocks. So now I point out to let people know, your stocks are yours. Regardless of the broker, your stocks are yours. So they can't be moved around at will because they are yours regardless of the broker your stocks are yours so they can be moved around at will because they are yours you only interface with the market through a broker but the stocks are yours so i take this part with a grain of salt now so i believe that even if you can't

access it because maybe like me you, you're a customer of that institution and it has been suspended at their request, I believe, I believe you may still be able to request that inter-member transfer. Is that what it's called? Yeah, yes. I believe you can inter-member movement, inter-member transfer. Move the stock to another place. To another broker.

Yes. Again, green or salt or not that because there's a whole process and i don't know if maybe that's under i i hold on thing now i don't know the details of it i i am um i am overwhelmed by that kind of news so i don't really pay attention to it anymore but the point that i i started is all it is say, based on what Danai was just saying, is that, you know, this article from Dashaan Hendrix that came out today, that it was SSL that requested the suspension of it. And it's been quoted as a prudent thing to do. Check the article out. I'll tweet it out and share it in the space and you can take a look at it just to know more and follow Danae's advice as you hear

him say. I can understand how that might be scary for somebody though. You hear all this in the news, they don't know what's going on but they're not seeing the stats online. It's kind of a worry point for her. I imagine most people see that kind of thing, what's going on.

An important quote there from Dr. Street yeah i imagine most people see that kind of thing what's going on my money yeah uh an important quote here from dr street forest from jc saying that ssl got a directive from the fsc that every transaction that goes through the brokerage must be approved by them then being the fsc and trading online doesn't allow that because you are in control of it yourself so And trading online doesn't allow that because you are in control of it yourself. So as a result, I can see then, it's either you're going to change the platform or you're going to disable that broker so that they made the move to disable that broker.

I understand that completely. One second. Yeah. No problem. Anybody who wants, remember to mute Danai. Or not. Anybody want to send a question, ask anything, talk about anything, and there's a time while Danai is gone.

I don't want to give you guys dead air, and I don't want to blab on mindlessly. Sirfield, since you're here, I have a phone. That's for you. Oh, sorry. From GK. Yeah, that's for the reason. It seems to be a Turks and Caicos company, actually. Yeah, and it's a reinsurance in Turks and Caicos.

Yeah. It's a reinsurance company. But I don't know how deep that reinsurance operation goes for them meaning I don't know if it's like at the size or scale where they can take on everything or if it's just you know maybe captive reinsurance or something I don't know it would be good to find out but I know GK has a hell of a insurance arm.

Heavy, heavy, heavy insurance arm. So, that is something else. Sir, you're on every week, so I should ask you, what's the most exciting thing you saw this week? We die. Most exciting for the week? Yeah, over that night killing what sounds

like either a spider or a roach. Why that thing sound like it happened? That's huge. Right? I mean, you did... You mentioned what was the most exciting thing for me already, which is... Main event results. Which results?

Main event results until... Oh, it was the most exciting thing until... which results? main event results until yes sir what were you killing? a spider? a roach and the door opened so I'll explain

but I'm right beside a bush Sir Phil was saying that the most interesting thing he saw this week I'll explain, but I'm right beside a bush. Sir Phil was saying that the most interesting thing he saw this week was until, what were you going to say, until 1.38? Until 1.38? Oh, no, until Dino came on. Okay, yeah, yeah, Dino actually said some very exciting things. Oh, no, he did, he did, he did. came on. Okay, yeah, yeah. Dino actually said something very exciting.

Dead, dead, dead. Some very exciting things outside of the roach killing that I carry out. But yeah, what about the main event results did you find interesting, Phil? I don't know if we actually spoke about that. We spoke about them

coming back. They're an example of a phoenix company, if you will, rising from the ashes. But I don't know if you're rising from the ashes but i don't know if you're excited they never really did it i think they made a mess of a bad situation they were flexible they're all shut down the office to make sure the cost them so stay low no physical location because as much business as much business outside of the party but anything we do

anything going on we're there so go on man we can turn around yeah man into COVID and making sure

the company stay alive anything again those broadcast meetings any any any live broad any live broadcast meeting then they were there to make sure that they set up for it and think like they did a couple agms to feel something like that they did they did office yeah they did a lot of office work so like um they would set up i mean even now that you know we start with when we're starting emerging like little office parties but office events um i don't know if they did

listed company agents i can't recall but i know they did corporate meetings meetings. What do you mean? I like that. I remember I don't know if somebody said this. If somebody said it, I'm giving you your praise. You can come on another weekend or this weekend. Tell us that you're the one who said it. But I'm thinking about it. Was any other company affected more by COVID than them? I mean, the literal thing that they do

got locked down right the gathering of people yeah literally couldn't do that that's what they do I don't know if anybody else would have gotten not as hard as them yeah and to come out of it

the way that they came out of it and this quarter they said that they made most of their profit last year in the last two quarters yeah that was clear yeah

it was 123.8 million in the third quarter 47 million in the in the fourth quarter and a loss in the first quarter that's not a light light light light thing at all i mean the 47 million in the fourth quarter is like roughly half of their 2019 roughly a little less uh they're 20 no it's 47 or what am i looking at here yeah it's almost half roughly in half of their their 2019 profit figure i did that in one quarter which to me looks like you know a company that is really really really sick on um yeah and the first quarter in January 31st, you know,

so the next report coming. Yes, sir. The next report coming in a month and a week, if not sooner. What events did they have in Jamaica up to January? When was the Burner boy thing? We got Burner last year. Yeah, I was right there. December.

That was good. That was December Nice Oh so that Wait So that's the quarter That's about to be reported Yes sir

Yes sir Okay And it wasn't Burner Boy alone What else was it The whole Everything Everything brother

Christmas didn't run You know Christmas was the first Christmas post COVID Party Like crazy Everything Justin Justin posted something Christmas was the first Christmas post-COVID. Parties were crazy. Everything was awesome. Justin posted something

just before I was coming to Jamaica for the Burner Boy concert, among other things. Justin posted a list of parties. There was something every day. There were people tweeting below him but you forget this

and you forget that like him put a list of 20 events yeah and then people posting below and saying you forget this that that so i mean events like joke gone on over this christmas word um was it rebel salute in that quarter i think so maybe yeah man yeah man rebel salute was Was it Rebel Salute in that quarter? I think so. Maybe. Yeah, man. Rebel Salute was... And then all of the New Year's events and all this stuff all the way to the end of January.

Whoa. Wow. Some of the carnival launch parties went on because they launched um some of the carnival bands already oh then i think that's not there indeed yeah the launch the ban launches were almost like parties themselves.

Yeah, man. Proper. Proper setup. It's a proper display of what's to come. They're going to be a part of what's to come. They see it. They see it. Think about it

What was Carnival last year What was going on there And then we're going into a time when Carnival Full force now Yeah Unbridled Things are keep And things are not going to stop keep

These guys are going to eat a big big big food They're already eating a big, big, big food. They're already eating a big, big, big food. Brother. Before that. Remember they also had the wedding arm? Yes.

Most people are married now. And that was also a big constraint thing there. The moment we free up, they were doing that business. Yeah. Wow. Wow.

Yeah. Wow. I think it's a blessing that anybody was looking at them last year and the tourists anybody looking at them

know because that aligns well with the tourism business yes tourism that's a line I don't hear a lot of people

talk about main event and tourism because the wedding thing Jamaica's a wedding destination is huge. It's going to become bigger as we

are building 8,000 hotel rooms. You know? I also think that things like Dream Weekend, the capacity that it was kept when it was kept, what is going to be now, fully forced, fully open, main event,

eat again. And I'm also ramping up the not so spoken about business that they need with the screens we've seen over last year how much digital screen what do you call it again, NOA that they partner with

advertising heavily how much new digital screen screen locations them how how much how much advertising business and main event manages that that's more money yeah in fact i saw they did a launch of a there's a related company so it's not mean event but it's the same own it no man what's the name of that company the iPrint did a whole thing I forgot I just remember that I didn't want to talk

about that that's how talking about it is that's how talking about it is that's why I didn't want to talk about that I remember there's something that because I'm looking at them they look like they were on the list to me they look very list-ish

and I thought that I thought it was the main event SVL but I don't think that's anything SVL owning 10% of the main event and them having that thing with K-Manners where actually to your point Phil, they have spoken about it from the

perspective of tourism Tourists being brought to Caymanus Caymanus is an event and of course we know main event handles the events best just generally and main event now being 10% owned

by SVL and Caymanus chairman being the CEO of main event now being 10% owned by SVL and came on as chairman being the CEO of Main Event and yet the thing that I never want to talk about wasn't even that I thought it was the iPrint group thing wait the SVL thing

is that big thing? SVL boos you know what you mean? it's it's it's it's it's

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it's it's it's it's it's it's it's it's

it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's The Mooted Mile, yeah. Oh, the Mooted Mile. Oh, okay, okay, okay. Yeah, man. They had to do more. That's proper event being kept there. There's no proper event space. Bridget and Ryan. Yeah, man. And they also actually have a big screen. Now, there's a digital screen in there. Was it set up or is it to be set up?

It was set up. I think it was set up. I remember reading about that with the Caymanas thing. I remember Cay was set up. I remember reading about that with the Caymanas thing. I remember Caymanas itself. We were hoping that Caymanas would list. And it looked to me like it was going to be listed. They started to post their financials to work out um what element of it is horse racing and how it is but it's obviously a big business for them and they've spoken openly they being svl they're so openly about how they have managed to turn around in many ways k manas and so k manas itself within svl i'm gonna assume i would say maybe it was the weakest element, but they have turned around the operations of Caymanas. And I mean, we've been open about the fact that I hope that they'll list it.

I hope that they'll spin it off. I think they'll spin it off, but I don't know for sure. It's not my decision. It's up to the SVL team, which is really the Mayberry team also. Sir Berry, big up Sir very and sir pure I what they're what they're there and I hope that they spin it off and if they spin it off mm-hmm how like these main event to get a piece yeah I mean obviously many events going to eat no matter what yes sir

but how likely is main event to P? It's almost inevitable because the chairman of K-Manus is the CEO of Menevent. Yeah. He's definitely one. He's just filled over there. Definitely. Most likely. I hear it. Looking at it, I'm thinking, I don't own enough.

I don't own. Me too. I don't own enough. I own some. I don't own enough. Menevent or SVL, you're correct. I was actually thinking Menevent, not SVL. I don't own enough SVL. some, I don't own enough. Main event or SVL? I was actually, I think in main event,

not SVL. I don't own enough SVL. I was thinking of you that too. SVL is a bigger, much, much bigger player. Sometimes you get the smaller effect before you can get to the bigger effect.

Yeah, main event. Take longer for third. Yeah. It's funny, you know, I actually sold some main event, some,

not, you know, some or all of my main event not all but the vast majority of my main event earlier well late last year and i ended up buying back in i think i bought more i think you bought today i don't know i I'll have to check. But yeah, this is definitely one of those brick rebirths that are actually happening in front of us. I think in a year, we'll look back on it and go, if me didn't know. Of course, if you want to know for sure,

link Dana at dhalladvisory.com. Yeah, and he'll tell you what's best for your portfolio. If you want to learn to do what I do and what you hear us talk about doing, at this point I've taught hundreds if not thousands of people to invest practically sensibly. It's not magic.

It's not only for money. It's not any chopping, thank God. It's a wonderful legal, sensible thing that anybody that has sense can do. And you have an advantage if you're Jamaican because you understand Jamaica better.

You want to learn all of that? evermickel.com slash grow and I will teach you. And take it from me, the person whose course it is, and I'm biased, it's the best course around. And take it from anybody else.

Check the tweets. People tweet about it all the time. It's not the best course around and take it from anybody else check the tweets right people tweet about all the time yeah people people praise it i i don't know how to take praise but at this point years into it i have to admit that i've built something that's pretty damn good and i'm proud of that and i'm happy for everybody i've helped with it and that they continue to help other people too so i mean the room nice and everybody can pay for it that's what i always say yeah so and i've paid for a lot of room from from the teachings so i can't make that up i've paid for a lot of things from it i mean i said already i keep saying because it keeps hitting me i pay school fee from it and i know my school fee is the biggest part to me I pay school fee from it Not my school fee

That's the biggest part to me I waste my mother money at school I pay other people's school fee That's crazy to me brother It's crazy that you couldn't pay That's the thing I couldn't go to school abroad Because

I got a half scholarship And I really couldn't afford a half It was too much money my little brother gone abroad brighter you than me better the school better the school thing by far and think that way more focused diligent student all that but sometimes you know the money kind of down in terms of because you know the expenses i think and sometimes scholarship not really cover because they're very up and down with it and the market has been paying for over a year now

anywhere the scholarship falls down that's where the money goes I know I haven't said this much my cousin is going to school now she grew up in high school she went to high school

and the market is paying for her going to her nursing degree right now that is a crazy idea to me because I never see myself as, oh, you know, like you always say when you're young, young man,

most money on the hill, more money, you know? But you know, you see it. I mean, you've spoken about it in a lot of ways how your family has benefited

from what you've done on the market. Yeah. Mind blown. I've also benefited, yeah. That too? I don't, but you know, but I think it's,

I think it's easy to talk about Where they've benefited In some ways The kind of return that you get on that Trust me The market there Things can happen for me Yeah check

Do it I say to people all the time Also I realize people have this thing in their mind They almost think of selling as a bad thing people tell me all the time, you know, boy I won't call the person in

but I know the person is listed they're telling me a story about how, you know, last year how things were kind of rocky and they ended up eating out of their portfolio because they ended up spending half a hundred. That's the point. And I'm saying, yo, imagine if you never have the portfolio for public.

That is the point. The point of the money is to spend it. The point of investing is to help you to do whatever you need to do or want to do in the way you want to do it. It's not to say, oh, I have the biggest portfolio. Unless you want that, don't get me wrong, there's nothing wrong with that. But the situations that we're going to face in life,

we're going to face them no matter what. No matter what, you face them with more money. I remember I had a client, like he booked, he booked before, but in the time he was waiting for the session to happen,

because I booked two months before, that's typically how one client books two months before. In the time he was waiting for the session to happen, he lost his job typically one time two months before in the time wasn't for the same thing to happen he lost his job and the portfolio was doing enough for him and he does like the initial goal whatever whatever like he lost the job he was looking at another job thought he was getting it and it was going to work out initial goal we reach over and just the profits from that was enough to hold him on him like he was he was paying for things

it wasn't like he was about regular normal he was a lot of responsibility in his family and the portfolio pay for it in them in the interim to get a new job and get money now and can push more money back into the portfolio and that was that the portfolio was doing it for him that's what the money did it for i know a lot of people well i think people sell when they're in a bad spot and they want to apologize to me. But I know, so I'm going to get full car, I'm going to sell.

I'm like, that's the point. That's why I'm doing this. It's not, so the money is there for, it's not to fancy and say, boy, you know about the money in the market.

Eh, eh. The money real. The money is supposed to spend when it's supposed to spend. That's why you invest. I mean, nobody tell you about, boy, I never sell whole for 10 years. I tell you about, boy, never sell a hole for 10 years.

If that's what works for you, and you're a pocket, sure, but not everybody that. You can't be doing that five years in. You need to draw the money. Good thing you're investing, because you can start drawing the money. You have something you can pull from. We all know other people

because they're not doing it. When the time come rough so if you have the ability to definitely push into it and more than likely you have if just think about it it doesn't have to be to the level that you want to start somewhere yeah if you have if you have more than that the cheapest stock on the market is sense it's's cents. It's E-N-T-S. Exactly. So, if you're listening to this, if you're watching this, you have enough money to start investing.

If you think you don't, or you think you don't know what you're doing, come to Grow. If you're not ready for that yet, or you don't have the money, or you just want to get your feet wet, mymoneyja.com. Sign up.

Sign up for a free account and put in the potential with them. Yep. Create a portfolio and try it out pretension with them. Create a portfolio and try it out. See what happens. Test yourself. It's a way for you to actually test yourself. Start learning. Hit the ground running. When you have the money in hand,

you can start something with it because you know how the thing works before it starts. Exactly. The risk is little to nothing. No risk because it's not like you're putting money in. You're just creating a portfolio and you're saying let me pretend we have a million dollars and then buy the stocks that you you think you're you're a million dollars and you never lose if all you do is learn yeah man exactly exactly if you get it wrong you've learned if you get it right

you've learned yeah so check it out um i won't have us go too late tonight since I look like everybody's shy tonight. Or, sir, do you know, get them with the 10 billion talk and everybody go and drink and talk about it. Send them any food. Yeah. If anybody wants to talk about anything else, this is your last chance. Send a speaking request. I don't have to wait like 30 seconds for people to hear that because of the lag. But I will wait and we'll talk about whatever you want

to send a speech request and we'll discuss it. Otherwise, we will say goodnight. Say Cliff, come back on. Sir, Cliff? Oh, I don't, I can't actually see him. Cliff, have a send a speaking request. Well, Cliff, Cliff, do you want to be now? Or maybe let's see what he did want to say.

Yeah, maybe we can answer. Cliff, we're all gone. Jump on. Jump on, Cliff. Send a speaker request a little bit or anybody else i'm speaking about the dina thing i think one of the things that i really like hearing to was what was him talking how how openings and talk about listening same listen to him shareholders and i like that. That's impressive. You don't hear a lot of companies saying that.

If you actually pay attention to the actual words that a lot of the corporate heads and leadership teams put out, they talk about caring about the shareholders. They talk about doing the best for them. They talk about doing stuff in the best interest. But very few of them talk about actually listening to their shareholders. And his response to that question was, I listen to my shareholders. I find that to be very, very impressive. I hope that that's where the market is turning to now.

And obviously it's a trait that him have become also, when I asked him about the logo, he said that he listened to his other board member who has marketing skills. So that's a man who knows what he's good at and knows how to find the people as good at things he's not good at and to listen to them, which is a skill that we all need to learn, myself included. So big him up for that. Sir Cliff. Yeah, man. Good night, guys.

Good night, man. Yeah, man. Good night, guys. Good night, man. Yeah, man, boy. I really wanted to ask Dino the question, but I think based on what he responded to another question, I was pretty much satisfied. Okay. What did you want to ask him? Questions that him can't answer. I think he would have been able to answer, but he made an interesting tweet earlier this week. And it's just interesting because a few days after he tweeted APO

our rights issue, we see an APO announcement come out, so that was quite interesting. It instructed him. Well, let's hear it. Let's hear it. announcement come out so that was quite interesting okay instructing me my question would have been to get his personal views because i know he wouldn't have been able to speak definitively for the listed company but to find out his views around the same tweet that he made with an APO

so that's why I say it was answered to some extent because for a CEO to tell me that he listens to his shareholders then I'm sure if he looked under that same tweet he would have seen what his shareholders are safe

I'm looking at that tweet now the responses to it and I'm like Jesus Christ yeah you guys mobbed the gentleman only a rights issue is acceptable unless you don't care about us retail investors and the shareholders the second funniest

meme account funniest meme account behind the great stunks um md enterprises are the shareholder the obvious choice is a renown to variety show damn the brick cutter himself philberg invest this is what happens when apos are announced don't let any broker anyone or anyone tell you otherwise. Wait a minute. I'm happy about this. Mark, I have a question. These are all human beings that I'm reading what they wrote. Company is like a human being,

but it's not a human being. Also, companies don't give a damn about you unless they're your company. So, the thing that has been missing from the investment conversation for the years, at least all of my life in Jamaica, has been the voice of the retail. I am proud when I see this. I am happy when I see the retail talking like this because it wasn't there before. Maybe that's why no company speaks about listening to their shareholders oh of course of course not if they listen then they might have to do something

wow they might they might end up having to do something that's in the in the best interest of all shareholders imagine yeah without asking them yes sir it sir. It's funny, think about it, Danai. We have heard people, we have heard companies say in the past, like they made an XYZ move or they chose to go another way because their shareholders couldn't supply rare. And I thought, hey, I'm a shareholder.

Oh, you know that. You never ask me that. Nobody asks me. You never ask. Well, yeah, so it's refreshing to hear a CEO speak about listening to shareholders and acting that way. I won't even be coy about this rights issue, renounceable rights issue, rights issue, rights issue, rights issue all the way, must be a rights issue. My God, what's the objective? It's one in every crowd. So, I am happy that the retail has found its voice and is talking.

And let's continue to this. Pay keen attention to who is listening and who is not. Yes. Keen, keen, keen, keen attention because that's what will affect your money. I am happy that remember i tweeted that a day about if a ceo were to tell you he doesn't care about his stock price that that's that is that that is another that is a if somebody tell you don't care what the shop price all right so watch who listens and watch who does not yeah

you know where you are welcome so Sir Cliff well you say you got the answer you wanted right I feel satisfied with the answer I know ok you feel satisfied as you say it's rare that you hear

a CEO say he listens to his shareholders from time to time we hear people talk about hear a CEO say he listens to his shareholders. From time to time, we hear people talk about outside shareholders, which none of that really exists. Is it? You know, see them owners here, but they're somewhat

operating as you say. And they get listened to. They get listened to by the people who I don't hear listening to. Exactly. They get listened to by the people who I don't hear listening to. Exactly. Exactly. So after hearing Dina tonight, I feel bad not buying enough MFS below $3. Well, it's unsafe.

I tell you. I might have to buy it. I'm going to have to buy the bulletin and buy some more because because 10 billion in three years. He hopes. He said 10% of his plans work out. 10% of his plans work out. He figures it will be... Is 10 billion a month or

3 billion? 10 billion. 10 billion in three years. Yeah, for ambition. And he said, of course, that's a hope. He wasn't promising officially. Don't try to come into that, but that's a hope. He wasn't promising officially. Don't try to come into that, but that's a hope based on the plans. That was a great conversation. Thank you very much again, Dino, for that. And thank you to everybody who asked questions.

From the useful ones like Alexis to the troublesome ones like Piggles. And Piggles for that question because pickles question I think also allowed us to hear you know without running off any rules so sir you have the pleasure of being

the last person to talk since nobody has sent a speaker request so what was one thing you found exciting on the market? And those outside of 138 and MFS. What was one thing you were excited about on the market before we go? Let's close on a nice note. Wow.

What's the phoenix that you expect to rise from? Not necessarily ashes, but what's the thing that you're most excited about this year outside of those two? Well, this year, most of my money is on MFS, you know. Well, I say you can't say MFS. Yeah, yeah. Let me see.

You think about that. One of the methods I like to do is I like to think about. Well, one of the easy ways I do like when I'm under pressure like this on TikTok I bring up my money and I just look at all the companies and I think about what I know about all of them and which one I want to talk about. But if I'm thinking about my money, I often

think about, let's say I hear from them what will be what would have happened in the monetary space in Jamaica, I don't mean the finance space I mean like what will be, what would have happened in the monetary space in Jamaica? I don't mean the finance space. I mean, like, what will be hot a year from now? What is something that you look back a year from now, you're like, oh, it's obvious that this thing would have brought in the money it did

or the profits it did, you know? Like, looking back, think back a year ago, February a year ago, it would have kind of been obvious that oil would not stay low. True, true. Right? Because the pandemic was, that was near the end of the pandemic. People were going out, forget the Putin. Yeah. People were just outside again.

So once you're outside again, you're naturally going to spend more money. Right? people are just outside again so once you're outside again you're naturally going to spend more money right so looking back looking back was it's obvious like of course oil would have gone up of course all the oil countries that make money from oil that would have taken a beating during covid would kind of hike prices and cut production to make oil go higher and then it then becomes a natural well obviously the only gas company on company on the exchange would benefit from that from a profit basis, right? It's easy to start looking back. So I just do that in reverse. I'm thinking it's January or February 2024. What am I looking back and saying? Oh, it's obvious. Now that you mention it, I'm thinking about RPL. Now that you mention it, I'm thinking about RPL. What's the obvious thing that everybody knows a year from now with RPL? Well, I mean, they're heavily into LPG,

which we see another big player on the market telling us that they're getting into that space. Obviously, there is something there. Plus, RTL is telling us that they're going into the petrol distribution, not distribution, but retail space as well. So they're looking to build a gas station and so forth. So I think maybe... They have a gas station, right?

Yeah, well, they have one and they're building one now, right? That's one of the purposes of the IPO. Or half of a gas station, one could say. So maybe a few years from now, we might see more gas stations under that brand.

I could see that. I could see me looking back right here from now talking to them and brick talk and saying it's obvious i mean they told us that's what they want the money for in the idea right so it's kind of obvious that at least it's all right this is randy 2024 it's obvious that the gas station would have finished and i'm gonna start a second one it's obvious i'm gonna finish the gas station they would have had a second one. It's obvious that when they finished the gas station, they would have had good pricing. It's obvious that they would have had cheap pricing because part of the business is also the wholesaling of the fuel. So they carry fuel to other stations.

So it's obvious that they would have had the cheapest prices because they can cut their margin on that. It's obvious that the cooking gas industry would continue to grow. And I have to throw like a moonshot in there. It might not be obvious, no, but I think that we are going to, maybe not in a year, but maybe in a few years, alternative energy, renewable energy might be a lot more. What do you think renewable energy know?

We think Wigton, which is wind, or no, at least. I think they might do that micro-turbo. That was the interesting thing for me. That's the thing that I remembered that I wanted to talk about. Yeah, the Wigton and the land. I tweeted about it in my circle,

and then I didn't do it. I have a show session with the Grow Grads tomorrow, so maybe I won't say it here. Maybe we'll talk about that there. A little bit of research. But let's say it was a weird thing that they bought that little piece of land out by ferry or so. But let me finish the RPL point.

I just think that maybe there might be more cases of either LPG, which they are strong in happening, and being a strong growth era for them I think that's actually what carries that the belly of the business fuel and

I think maybe they'll be opportunities for other products that maybe use lpg or LNG becoming more popular in Jamaica outside of cooking right I mean water heater maybe somebody have a lpg powered ac who knows i don't know i'm talking off the top of my head here but i say i'll have to say that i don't think your pick is necessarily bad uh seriously rpl might actually be one of those obvious things a year from now i can't see us looking back a year from now i'm going boy i wish i did by exactly what you just said i wish i'd bought more below 3 and it's currently at 190, right? Yeah.

I don't know. Let's see how long it continues to remain at that price. Who knows? This is going to be a very, very interesting year because I don't think of the company as being bad at all. I think of it as maybe just overlooked timing or maybe IPO

or APO drunk. They look like, hey, hey, hey. He actually said it to none. Let's not forget that. He did say that, but I... I hope he now listens to his shareholders. I hope he don't listen to his brokers.

Yeah, yeah. Cha-cha. Is it basically the same crew? Boy, I tell you. That is interesting. It is interesting, right? It's actually the first thing I thought of when I saw that notice from one team.

Then we have more APOs to come. No, they have the same broker. I know, I know. The broker is telling us. Oh, okay. I know. I wasn't going that far. Yeah.

I did not think about that. Damn. But they might also be a right issue. That's true. They might also, there might be some love some shareholder love going to the war yeah I like that the market is speaking with its voice

and with its pocket no may the retail space continue to grow the pocket is the voice of the market I like that right that don't you know interest somebody somebody quote me that's under two years from now the pocket is the voice of the market that bad to go off on a tangent i just wanted to go off on a tangent a little because as you mentioned,

retail and the strength of the retail. Not in a derogatory way, but that court case, which I think was in the CCJ. CWJ? Yeah. The court arrived. CCJ.

Caribbean Court of Justice. Well, yeah, it's outside of Jamaica, so I don't know. But I'm thinking, like, how much strength do you think that will give to retail shareholders in terms of, you know, we having... The thing about the law, it gives us a strength, right? It's us exercising. Right. Yeah. It then comes down to a case of... So the thing about it, though, the specific thing I see about it is that there has to be a disagreement along the lines of minority and majority shareholders. So... There has to be a respect and interest.

There has to be benefit to the majority shareholders. Yeah, asymmetric benefits. The person pushing it, if the majority of shareholders are pushing it, then they have to benefit in a way that the minority does not also benefit. So, those are the lines that's going.

This thing, me, Vex, Adnan, and everybody else in the room I said boy let's put a nooses around our neck then boy then it won't necessarily go like that so easily yeah that's a massive massive massive massive massive thing you know

because let's say I don't like to do the fake company thing I think that's I think it's stupid but in this case I will do a fake company thing or I'll use overseas companies let's say that uh let's say that what does Apple own that let's say that Disney and what does apple own that let's say that disney and what does disney own i mean they kind of own everything right uh it's going to say something sorry nothing more all right so let's say that disney the parks which is owned by disney the massive corporation

right let's present that that's a a subsidiary let's say that disney the subsidiary wants to do a let's say they do a they choose to do an apo and what they're doing in the APO is they're bringing in Disney, the massive corporation, right? In a way that dilutes everybody else, all the other shareholders. Under this thing here, this ruling, what the interpretation I was seeing here, it would say that the voting on whether or not that APO could happen. Disney, the park company, would be the majority shareholder in that, could not vote.

You have to sit this one out, bro. Yeah. They have to sit it out because their parent company, aka part of the group that they are in, stands to benefit from the doing of this thing. This has massive implications for the future. I don't know if it's been for one year or two years. It has massive implications for the future.

And it's really for the first person to see another company about it. And I think we're going to get more litigious as we go along. We already are. And I like that. I like that some things are being questioned, and they should be questioned more. It's part of the maturity of a society for that to happen. The court should decide certain things.

I'm really happy about this. And this specific article that you're referencing, I like how it ended. The gentleman who sued him, he was quoted saying, I hope other shareholders in Jamaica will be heartened by this result and that shareholders will begin to take a more active role in ensuring that publicly traded companies begin to improve their corporate governance and that shareholders also begin to demand that directors and officers of their companies understand where their very real and serious fiduciary obligation lies.

That is an amazing quote. I wish it came from inside Jamaica, but no matter where it comes from, it helps us, it benefits us. And yeah, I'm happy for that. The real and serious fiduciary obligation that the officers and directors of listed companies have is to us, the shareholders. They should be listening to us. So let's have more of that in the future. Thank you very, very much for that point. Yeah, man, no problem. Big up. And thank you, everybody who joined us this evening. Did I have anything you want to tell the people before we say goodnight?

Nothing but goodnight. Big up, people. Again, as always, start investing if you haven't started yet. Keep investing. There is more to come. Trust me, you don't lose at all from this game. Just keep investing. Trust me. And if you want help with that, our

hero is right there. I am right there. dhardvisor.com or jump over to Grow if you want to learn. And trust me, the best bet I can think is to mix them. To Grow, come across, you get a discount either way from me or him. We can discount each other and

pick up people again. Enjoy the weekend. Look out for more. And look out for, I was going to say look out for next week, but I won't be here next week. Yeah, then I'll skip you next week. Yeah, you're taking a break.

And I might actually skip next week too. So, who knows? We might have a week's break or we might have a light on next week. Who knows? We'll decide. We'll find out next week. We'll all find out together. In the meantime,

however, enjoy. I hope you guys enjoyed tonight. Thank you, everybody. Thank you, Denay. And have a good night. All right, people. Bless up. They ain't believing us.

God did