Earnings Season - Limitless Bricks

Episode Date: July 7, 2023

Randy and Danhai pop in after a long break and have a great chat with the guys from the Limitless Podcast.Enjoy Part 1 and check out the Limitless Podcast if you haven't before. Come for the gems💎, get Limitless Bricks included🧱.Enjoy.Contact Us Here📧Mail - [e-mail] us on Twitter here 📱 www.twitter.com/Earnings_SeasonRandy - @RTRoweDanhai - @HDanhai🔗Links🔗MyMoneyJA - Use code LIMITLESS and get 5% off the your Premium SubscriptionLimitless Podcast - https://twitter.com/limitless_podThe GRWR Investment Workshop - https://www.everymickle.com/store(Enter EARNINGBRICKS at checkout for a 10% discount)EveryMickle Stock Calendar - www.everymickle.com/calendarDanhai's Advisory Session (Automatic 5% Discount Included) - https://bit.ly/ES2YREF🔊Shout Outs🔊@FantasticFour ★ Support this podcast ★

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Speak to a licensed investment advisor before making any investment decision. Hi, everybody. Randy here from earning season of course brick talk i know you haven't heard from us in a while we've been on a break but we thought to break that break a little bit by having a little gift that you guys might enjoy so the other day then and i had a sit down with some other og podcast listeners like you guys. And we thought, hey, let's give you a surprise. So we sat down with the guys from the Limitless podcast and we had a hell of a conversation. I think you'll like it. I think it's really, really good.

We touched on a whole heap of points. The market as usual, investing, but life and just real stuff. I mean, I think I really enjoyed it. But listen to me to tell me what you guys think right and thank you to matthew and theon um guys really really loved it and of course thank you to danai for doing this with me as always and thank you to you guys for sticking around and of course getting this gift this nice early listen to part one of what we're calling limitless bricks or limitless earnings who knows call it whatever

you want but enjoy it and give us some feedback see you guys soon part of why i started and how how i deliberately started and did a lot of work was that i want an industry and i want like a full industry when i say industry i don't mean brokers and pension funds i mean i've always wanted everything industry a space a true ecosystem where everybody has a voice and because i know how markets around the world work everywhere have a stock market and brokerage houses but not everywhere the most vibrant markets have a an active ecosystem around them of miscellaneous services but also lots of different voices from different investors different investor voices the strongest markets have different investor types and each of them have a strong voice if you think about like how the um

how the activist investors in the US markets are like they speak a certain way then how the pensions speak at the pensions are the times when they're very proud and they make a big move and that's it for the next 10 years right but they make a big move and then they'll have the banks who speak a certain way. Like you think of how they talk about Jamie Dimon. Then you have like the people who, yo, I work, we're the host, but there are different types of hosts and this host has a different voice

and this whole, like Axe is built, Axe from that show is built of certain types of investment houses, right? Succession. Yeah, Succession is built of certain types of investment hoses right succession yeah succession is built of certain types of ceos and and and you know the massive family-run companies and then you have i just finished succession like i just started yeah same it was it was so good i was i was easy to finish i haven't started oh lord so then i was the only one out that i don't know what do you guys think

liked it loved it perfect i liked it i still liked it i mean i i didn't like it at first but it grew on me it literally grew on me and just to see the impact of how family drama affects like the market sense of it and decisions like that like it's crazy yeah it's the reality of how just relationships and the ripple effect of that on the market the entire world actually yeah it's and i'm pretty sure that's literally what happens so yeah uh shows the power of like control like the thing the things that can go on behind the scenes with like oh a five percent shareholder being important like i i'm looking forward to things like that on our market exactly think about in the local context where they try to even tell you say you are that you are not level you know matter when you know you matter if you

just read a law one time if you read articles one time it's a way but i do matter yeah you see why there's a strong point to be brought that they would want to make it not matter. See, Mikey, it don't matter. It's why I started recommending the show to people. It's like, yo, you need to get into this show. You say to Daniela Tan that

the strength of the show is because the first two scenes are stronger in this also but it shows exactly what matthew just said how real the market is just a reflection of real life and it shows how things happen on the market it shows very very real repercussions i'm like what happens like the only in connect to the people it's not just yeah numbers on a screen. It's not just reports. It's not just this company put all these earnings and whatever.

People buying all this. Only in less evolved markets is it truly thought that the market is the market and it moves on the bank rate or the like no no no the bank the bank rate yeah let me not say the bank rates and

yeah the federated is linked to how close we are to elections because you can't do something that might cause inflict heavy inflation in an election year so like you can do all of the scientific research around that that you want all economical research around that you want but i assure you that in an election year and the year before an election year and i guess maybe in like the market at the u.s market year and a half two years for the election year certain things are gonna happen like okay i am no economist confession right how far are we from the next election the u.s election soon soon soon when is it isn't it like a year and a half two years i think 2025 right or 2024 who knows you care yeah we care right but I look at that, and I know that barring maybe all-out open war,

it is highly unlikely, and I could be wrong, but it's highly unlikely that the Fed is going to keep doing those heavy increases. The most they'll do is they'll hold, and then the one or two falls. I mean, if they drop their rate, central banks around the world will drop their rate. And I'm not saying that there aren't other strong economic reasons for all of that. But a lot of that come right back down to... This money for doing things. You are an independent body.

But if you don't do what I say, that independent body is going to be run by somebody else very quickly. Right? A good parallel i know is um i hate giving real examples that involve the u.s so like every u.s embassy the ambassador in that embassy has almost ultimate power meaning let's say the ambassador says you can't get a visa they are no visa for you the president of the u.s cannot say give they on a visa i mean the president of u.s can say give they on a visa and ambassador can say no and you will not get the visa the most the president can do is fire the ambassador and put

that ambassador in that will say yes right and because in many ways it's independent i that's a parallel to like the independence of a central bank you can't tell the governor what to do but you can tell your governor what to do and the governor doesn't have to listen to you but your governor would probably listen to you right so i say all that to say like okay i election year coming up and we we whoever we are need to win that rate is not gonna go up because i get too much headaches in that rate go up yeah in fact lower two times and after we win we'll bring it back up and fix the problem a slight tad of what we have in our history although we maybe went a little too far but yeah that's something that you can look at and bring all that point to

a close the show like so likeion shows how real life affects the market and how real life, in my view, is actually much more impactful on the market than many of the other factors that people would want to pay attention to. Right? So like, I know we're getting into those stories that Dana and I used to have, we'd be able to talk about and then we have to edit it out to earnings season, right? I know there's a company on the market now

that I consider to be like the tough it out company that I did not think, like if you told me seven years ago that this is where this company's story would end, I would not believe you. I'm like, oh no, it would be listed. And you know, owner would be a billionaire and the other owners of it would be billionaires. I would not believe,

and I wouldn't believe you, but I'd be like, wow, that's a hell of a journey. Yeah, there are companies that when they're private, meaning not listed, throw away, around and the owner tough it out and finally make it to the market and now it's a beacon and you're like i respect this and a lot of the pass around moves that happened behind the scenes weren't for economic reasons weren't for the balance sheet says Ray, Ray, Ray. But were for, I don't like that guy. So let me do this.

Like there are a lot more that happens than we would like to admit. But we all know it because the market is just human beings. Exactly. Yeah. If I hate Danai and I run this bank, I don't care how good his company's books are. I'm not lending him the money. I'm not getting the money. Make him go over the surface.

Right? Or the first chance I get to screw him on the rate, we're screwing him on the rate. Not because of any reason other than, that's all we do. But you can't say that publicly. So he says, shareholder value.

Who's the biggest shareholder? What does shareholder value mean? The guy saying shareholder value is the biggest shareholder value. It's the biggest shareholder, right? Yeah. Yeah, that's my long-winded intro to our wonderful episode,

which I'll have the hottest stocks podcast around, the host of that though. Okay, wow, what an intro still. Greetings, everybody. Welcome, welcome. So, yeah, I don't even know how to start this because Randy and Dana have started it pretty well. Hi, I'm Randy. This is the turning season. start this because randy randy and then i have started it pretty well but hi i'm randy yeah right um but yeah welcome to the limitless podcast joining us um as always so i'm your host one of your hosts dr theon sims and join us as always dr matthew preston heal up the people and matth Hey, guys. What's good? Excellent. We have two clearly veterans in the space.

Randy Rowe. And Danai Hall. Thank you, guys, for joining us. Thank you for having us. Bless up, bless up, guys. So what's going on? What's going on? How you guys been? How's vacation? All right. Bless up, bless up, guys. So what's going on? What's going on? How you guys been?

How's vacation? All right. How was vacation? It's work. Yeah, yeah. Preston and I were always discussing that. And I think I actually tweeted it recently. Let me see.

I'm pretty sure I made a tweet saying hats off to you guys because i don't know how you do brick talk every single friday night that level of consistency yo i can't do it i i'm from covid yes yes every single Friday. I was looking back at it and I was surprised because COVID compresses time. And I tend to think, I tend to think, oh, you know,

it started in my mind for some reason, I think last year or a year and a half ago. It's always a year and a half ago, but I realized, yo, you've been saying that for like a year and a half.

And you started, I mean, we started Earnings Season, a podcast, long before COVID. And then in COVID, we went into Brick Talk, which is like Earnings Season, but with people, in front of people. And yeah, it's been a long run like then i said i don't know how we do it either um dressing you integrate to make a party life it's fun you have to be passionate about it you have to love it uh and even then sometimes it's hard yeah because i'm pretty sure then i girls say yo we have to go upon a date on a friday night and you're like no i have brick talk i know i have brick talk on here i can't believe what like her face i can't imagine how her face would be i've had some friday dates since the break so

touchy points are some touchy points i'm touching on yeah i don't touch those points again friday night sacrifices is um it's big it's big i won't lie it's big it's big but you make it your own it can be fun and uh it can be fun that's what i said but it is a big it is a big sacrifice yeah and i mean a part of it is also I mean it's not just you and Donai it's bigger than that it's the whole community a lot of people are listening a lot of people enjoy the content

I'm pretty sure for me and Preston couple billionaires what? couple billionaires enjoy it talking about me and a it's a couple billionaires enjoyed yeah a couple billionaires and a crap load of um new millionaires i'm proud of that part that part i'm really really proud of my eyes happy i

i still deny what happened time people i'm sure then i hear is it all the time yeah where you know which clients come in and say, I used to just listen to Earnings Season. And I was like, boy, after you heard it, I said, no, you shouldn't think that. I said, boy, I've been knowing about the process behind XYZ.

But at the end of the day, yeah, a lot of people, that's the only place we're hearing about stocks on a certain level. Oh, that's where we were hearing about stocks. Because when Preston and I were in med school i i remember a specific memory right now where i i told press i was pressed on an earning season podcast and i remember he i don't know if he was dropping off something at irvin where i was staying urban hall and he was driving out and i

heard the podcast book in him car radio and i know exactly the i don't remember what episode it was but at that time i knew exactly which point in the episode it was and we were big fans yo all episodes we were big fans and that was the only source of finance talk to us because we that's when we just just started investing i wanted to know more you guys were talking about it so chill so simply so laid back and that's the kind of vibe we like so that's kind of i remember when you diana og group like just as i made students i could invest that was pretty cool yeah pick up alex alex is the alex is the reason that i joined that group so yeah love that. I love hearing that. What are you guys doing?

I start out with all the time in terms of what investing did for him. Like, yo, he bought, he's not a gym owner, right? Oh, yeah. And that's how I can do what I want. He did a second degree and everything, but he had space to do all that because he was investing his money on the market. He often says, yo, if I never did that,

I'd just have to find a job somewhere because I would have no money to do anything. Yeah, investing's powerful. We were just talking before we started recording. Sometimes the mindset, too. You have a certain mindset around your money. Like, it just brings you to a certain level in what you should be doing, how you do it,

and how seriously you take what you do. Yeah. Okay, it makes you appreciate time more to me. Mm-hmm. Because it's like sometimes when you start to look at something like, hmm... I guess if you start to compare it to like your job or whatever, like, okay, you spend this amount of hours, you earn this amount of money. And you look back on investing, like suppose in that time I was to pick a stock or there didn't have to be a stock. It's just, as I said, just general investing. doesn't have to be a stock it's just as we said just general investing pick some other way other other way of making money and you look back and you're like wow within less time i can and it

scales too because as much as like people don't realize that your job their the rate is typically capped so and there's a limit to how many hours you can work, but they don't realize that there's almost no limits to how much it can go up. Like if you, especially if you just actually do the work, the research and stuff like that, and you actually make it a part of your life, like an actual practice that you always try, I'm going to get better. Okay, what happened this time? I lost money on this. Why did I lose money on this? And then you're constantly trying to learn um it really pays off it really pays off i think that's where it beats a lot of people too in how they compare it to the job like they look at i'll see like people that tell me often like how much i can make on this whatever and i

give them a realistic number but i can't make that i make that amount from my job regular xyz when you think they're not really putting into the point that is your money making the money you know like you already made the money from your job so you have that much more money now when you when this thing pays off the way you expected it to xyz it's not just oh cool i make 500 a month so why would i want to make another like you tell me i can't make 500 from doing this thing but you're making 500 more on top of the 500 they make every month and in that month that next 500 will continue doing something else over and over and over so the practice of it you mentioned the practice i think that's where the biggest fall off is that people are not really making a part of their life certain ways make you taking it serious like oh i need to be doing this i need

to do this consistently i need to have a process behind it's often just what we can get from this song we can make a thing on business we can make a food and cool versus yo this thing can change my life i just continue doing it and just scaling it is that what makes you guys do this so consistently like there must be something that um there must be a reason why you guys are doing this like investing like there must be some intrinsic whether it's intrinsic or extrinsic um form of motivation like what does what drives you what drives you to do this i think a good part of it for me is i i the love of it like the process of it just going like picking a stock

and doing whatever. I love doing that. I love managing my own portfolio. I like managing my portfolio. I like doing the money and, okay, we're doing this, X, Y, Z. Something about that I just really love. Talking about it is going to have consequences of loving it. It's a personality thing for me.

One of those things that I found in my life. I really like doing this thing. Yeah. I'm with you around that. thing there just one of those things that i found in my life i'm like i really like doing this thing yeah yeah no i listen to it and by the way theon like like i love the growth like you hear them them sounding them so now dion jackson miller is like it's a natural segue to the question man i'm happy to the boy yeah man the podcast it teaches you it teaches you how to consider your audience while still getting your point out oh yeah actually and play the point ahead it helps in public speaking too because i spoke at the dbj the other day and it was i used to speak before but i haven't done public speaking in years since covid and then doing that now and realizing the difference I was not nervous at all like it

was just very I was very calm cool I knew how to like ask questions to the audience it yeah the podcast has taught me quite a bit yeah but it does do that for you so I'm happy to hear you that and going back to Danae's point how he said it I agree and something that you said Tehan and something I think we spoke about the last time it was our episode we, Tehan, and something I think we spoke about the last time, it was our episode, it was Tehan, Matthew and I, we're talking about the personality types. You always hear it,

like a type A personality. The space does draw certain personalities. Everybody can benefit from investing, but the space, especially the public investing and being a public voice along with it, does draw a certain type or types of personalities um and i think in some ways i think you have to have that so again i'm not like an all or nothing kind of thing you always joke about that joke that

unless it deals in absolutes but i think you kind of have to have that personality that competitive edge night and it's not a bad thing. I often joked about that. Like one of the reasons why I did this with Danae is that I think our personalities mesh and match in so many ways where I think we're just naturally competitive and I don't look on competition as a bad thing. I don't know if maybe it's because I have brothers,

I grew up with them, like I love my brothers, but they're not beating me people try to mischaracterize competition into making it a war a fight, we're not talking about that we're just really talking about edge for edge, going at it

to see what I can do better here in that too I look at Randy and I i learn something he look at me and learn something just because yo why beat me this up like what exactly he saw there to get a little bit more yeah lovely lovely thing there sorry go ahead no i was just saying iron sharpens iron that's exactly it it's exactly that there's that's there's also that i'm always thinking about how i used to describe it when i was younger as like lazy and like i my bits of formal education the thing i chose was programming you know it um

um and you learn the thing that helps you there is not learning languages or knowing computers is actually logic it's thinking which helps you turns out helps you everywhere um and one of the things that i always used to say then and still say sometimes that lazy programmers make the best programmers because they find the most efficient way to get something done wow that sounds like awesome yeah but after a while i stopped saying because you know connotation are lazy and you don't want to necessarily encourage that sort of thing uh but they are really i'm definitely lazy in turn in in that good sense that you're talking about i try to find systems to make my workload much lighter so exactly if i have to do the thing what is the most efficient way of doing the thing where i don't have to do

the thing anymore or right so i can invest on my own as a've invested on my own for, at this point, decades, right? Just quietly not knowing, not talking to anybody. But if you want to get really better at that thing, compete. You guys had an episode where you're talking to the CEO approval and you're talking about doing the football, doing the football, not just the football IPO, but wanting to engender a space where you can constantly bring proper football talent out of Jamaica. And I think it's generally accepted that the nations where that happens are the nations where they

have inter-company programs, inter-country leagues. Yeah. And those leagues build up a heavy talent and also attract great talent elsewhere epl being obviously a big part of it and of course you know um barcelona before barcelona real madrid like when you get the real madrid call you get the real madrid call right that's because within europe the european football system has just within themselves they're so good at it that they have gotten really really really good you go back to history you read history and it's the motor

baruca europeans are really good at war and and that gave him the edge why they built such a society over centuries right and i think about that that whole yo you don't have to hate somebody And I think about that whole, yo, you don't have to hate somebody to get better. Locally, we see it with track and field. We see the guys that run against our Olympians. Suddenly, champs is like one of the best meets in the world because we have high schoolers running times that other countries have to do all kinds of work to get into, right? I agree. running times that other countries have to do all kinds of work to get into right i agree yeah i like we have high schoolers doing that because of that level of talent just because we build it up because and it's that level of it's not normal because yo you go to school which other schools

which other country you know where schools or high schools are that competitive it's usually universities and people say yeah it's like oh you're a campionite oh yeah you used to go you know it's there's that competition and that it makes me think like the american football scene like how they build it from high school going to college going into the big leagues and how the level of competition has driven there from a school level like you have man you have big man in jamaica too you have big man oh yo I'm a supporter of this high school and their football team. Of course. You see it here.

Isn't high school kids filling up the stadium at champs time? Exactly. It's people leaving their office in a KC tie. Yeah. And a green shirt. If the national flag ever needs to be replaced, the KC tie. Thec time it's probably like a close second

right and i said i never went to kc so i know a bunch of college man just got very excited hearing that but is it true that's true but jamaica come first right the funny thing you're going through the airport anywhere in the world you see a black man or woman in full green or green and black or green and black and yellow, and they're either Nigerian or Jamaican. And if they have on the green and the black and the full head-to-toe shoes, everything cap, like, how did you know i

was a jamaican but also if they have on full purple yeah yeah think about it if they have a full purple it might be somebody from atlanta or a college man i was in i was in trinidad last year and i was on a ferry to tobago and i was passing i was going up to upstairs because you drive on to the ferry and so on but out of the parking lot or the parking area of the ferry i was going upstairs and i passed this car best believe kc bumper sticker kc around the license plate look inside there's a kc tie in there it's crazy it is insane yeah yeah the indoctrination i have there but i mean to get back to the point is that that competition drives the competitors to be better if you run beside both you might not beat both you probably

won't be you're not going to be both but you're going to your times are going you're going to be so much better you're going to learn to compete better right and and so you do it and then i and i like i i've always said from the like up front when i started talking really publicly and more loud about stocks i do my little checks and i searched out and i look at it and i realized i'm the best at this stocks thing right no one would have any space no but i say but i don't know and the people are like oh well you always say that and suppose then i is better yeah i hope so i don't know i when i find a set of our competition if he beats me i am happy and i'm also going to learn from that like why did i lose because yeah in the stocks thing if you think of it as a game in the stocks game why did i lose because yeah in the stocks thing if you think of it as a game

in the stocks game why did i lose is a lesson that you learn to win better or make more profit right and yeah i've always wanted that for the space and seeing it happen though is wonderful to me because i know that what you need for that is not just a competition you need the the surrounding things to support it right you need the podcasts you need the people tweeting about it you need people teaching it you need people talking about it publicly you need people going back and referencing did you get it right or did you get it wrong right that's that's a thing that nobody likes but the reason why we're good at track and field is because there's a finish line and we know who won and who lost and why they lost is very very

important and why the one is important if you remember the first time bolt brought the record i remember there are all these articles there's this i think new york times piece where they're talking about how many strides he takes and why it's weird that a tall sprinter when sprinters are usually sure think about the level of analysis that went into it and how much better they tried to get their people that green no yeah yeah sales went through the roof right i wish you had a commodities market for the yam sales at the time right yeah like that's that's what you need to engender to get the industry that should be out there. And at least for myself, I suspect for Danaito, it helps that getting it right in this space. It's a money game.

So if you get it right, you'll be able to make more money. Yeah. And I don't know anybody who don't need money. I need money, right? And yeah, it's a true win-win. Because even if you lose, you win. You learn something. And the strongest lessons come from the losses.

And it causes an industry. You win along the way. I love it. I love it. So that's how we get through doing it every week when we do it. When we don't take a break. That's how we go through doing it every week. As difficult as it can be sometimes.

But yeah, it's lovely. And hearing from the people who love it is also great and from the people who enjoy it hear from the people who get different perspectives the switch to brick talk to allow people to be able to participate yeah i really love that just to hear just to hear people because we hear from earnings season we hear people talking about earnings season. But in Brick Talk, when a man will call in and say, oh, this is a play he's making. And very often, they want to test the play. They want to hear a mirror and they think about the play.

Very often, we hear the player like, yo, that guy is signing up for something really good. Yeah. Think of like, what's his name? Top striker. The sisters that like JFP and the price that they were looking for. They were buying at 150

and they say, by X time they must have hit that 190, something like that. And that happened. I never even remember them. Yo, if you're one of the sisters and you're hearing this, link up. Send a DM or email. I think I also have a price on them. I often give out the prize and I tell people,

if I tell you you want a prize and you don't hear from me, I didn't remember, I'm not trying to duck you. Email me and just remind me. You will get the prize. But yeah, those sisters, I never even thought about that. They must be rolling in now with JFB. They must be so happy with JFB. Yeah.

They're about to be happier. I was about to say. They're about to be happier. I was about to say. They're about to be happier. And you guys, I like the line of interviews that you've gotten. I said to Danai and I've said to you guys how proud I am, how happy I am that you guys have gone about this. Differently from us also, differently from me. So you get people who they might not want to talk to us they'll talk to you i don't care just talk yeah because what

i'm wanting to change is the culture of silence that we used to have right i don't want to hear about shareholder value and it's interesting we never think there before having a space where like we we know what it was not hearing from CEOs it was normal it's still not easy to hear from CEOs here we are them talking now that is true

we have earnings calls we have earnings calls I really like that addition I wish more companies would do it it's ridiculous if you look at some of these companies I really like that. I really like that addition. I wish more companies would do it. It's ridiculous. If you look at some of these companies, some of them you get almost no information.

Like the report, you don't even get much mention of any. Yeah, there's no... I did an MDA. I can't read. There's no mention of anything. It's a text version of the P&L and the balance sheet. Literally.

Literally. of anything it's a text version of the of the pnl and the balance sheet yeah yeah literally crazy literally it's just a text like and then that even ties back to something in succession where they'll talk about with or succession and even um was it billions where they talk about actually caring about the share price because they don't realize sometimes that if retail investors were the ones that set share prices. So you can have a company that... Controversial words. Go again?

You can have a... What did you say? Set the share price? You sure it's not a strong balance sheet? Let me start a funny spot. Show the show the sweat over what you said yeah they don't realize that you can have a business say the share price the company listed at ten dollars and it's say it was like a family-owned company they owned like i don't know 60% or 55%, right? So they have control of the company, but they don't realize that

if we're the ones that set the share price and for people to make, I guess, informed decisions, information has to be put out there. So when information isn't being put out there and say the company isn't doing well, but shareholders aren't informed about what's there and say the company isn't doing well but shareholders aren't informed about what's going on in the company they can lose interest in the company so you can have a lot of people that instead of buying the shares they want to sell it and if they if a lot a lot

of people want to buy and a lot of people want to sell the share price is going to go down they don't realize that that puts them in a position to be taken over because they're listed and that's something that doesn't really happen as much on our market right now yet but how yeah exactly how i see it is that we are the we're like the leading stock market in the caribbean no doubt right not like like we are it's like companies come to our market, they're cross-list because they realize, yo, Jamaica is where the money is. So I feel like they don't understand that. So a lot of these companies I'm looking at, I feel like they're putting themselves in a position to be taken over. And it's just a matter of time.

Imagine you own 60 and a man buy 39. You could have spent the shares on the same one person out there and your fellow says something. What's going on? What's the next grade? It doesn't have to be that bad. Suppose you own 60 and a man by 20.

Exactly. You have to have a conversation all the time. You can rush, you can go on you run things you do and if you come to it you're going to have to go to the agm and put it to a poll and you will always get it through but you know that the sword is at your neck you can't slip you can't make any mistakes your bonds they have they have a, um, do they have a conversion clause in them? You can't slip.

Right. It's a real thing. And I love it. I love it. It's what we should have. It is, that's a sign of a, a maturing market. And I'd say an advanced market. because we tend to we tend to talk about our markets as advanced or not advanced based on

whether or not we have shorting or whether or not you know you you can you can um log into my bloomberg terminal and that's not really what makes a market advance what makes a market advance is uh an activist investor can hold like i can carl i can he makes he was making moves sometimes buying five percent of a company one percent of a company half a percent of a company to where we are at this point where i can can threaten to start buying shares in a company and they will start to shift up yep like that has actually happened right because it's not just about the 51 percent or the 50 percent and i think also to touch your point again, I think as we move, I don't think it will happen in one year or five years,

but as the market evolves, I think we're going to move away from the 80% days, meaning it is so hard just now for companies that are coming up now to get to the market uh in the traditional way where one person or one family owns 80 and they hold it under one holding company you have to give up pieces let me look at some of the younger the younger companies come into the market more recent companies coming to the market i always saw how eddie focal i'm biased um but look at look at the sheer ownership of Eddie Focal.

I know Eddie Focal when Eddie Focal was just Swaby, right? Yeah. And he was doing it. And by the time he's gotten to the market where, I mean, it's not that his story is done. His story of anything is still just starting. But look at his ownership percentage now versus then. Right? And that's a

side effect of what the business moves that were required to get him to this point. Sometimes you have to give it up and know that more people know about the market. You have some institutions being smarter than others. Look at a Cygnus versus the traditional, let's say the traditional Scotiabank. No knock to either of them, but traditional Scotiabank over the decades. You have a business. What's your balance sheet like?

What's your revenue like? What's your cash flow like? Are you profitable? We'll give you a loan. And then you have a Cygnus who goes, what's your balance sheet like? What's your cash flow like? We'll give you a loan. And hey, if you want, we'll take payment or half of it in shares. At this point in 2023,

it is more common than it was at least in my lifetime. It is more common now for companies to be raising debt with the clause in there that we plan to list within X amount of years and this debt is convertible at IPO. We've actually seen it. We've seen companies list that have, oh, and there's this reserve class and it goes to these people because they owned whatever.

They had an agreement that said, if you IPO before a certain time or during a certain time, then this converts. That again is part of a maturing market. And I love that. I love that our market is maturing along those lines um and i just want more of it i love it like i love it it's it's yeah inject it into my veins all right guys randy here in turkton one last time just tell you something check this out you

need to check out mymoneyja.com if you do not have a mymoneyja.com account already you really are missing out we have been doing a lot of work so if you're serious about the stock market the local stock market and you're looking for somewhere to keep track of your money to keep track of your funds especially if you have multiple brokerage accounts mymoneyja.com we have loads of features check out actually a feature that we just launched for premium users you know how sometimes you're talking about like the trading day and you want to know what happened on this date or that date we have the trading history and we also replay the entire day for you so you're talking about oh that trade that went into the queue and then came back out but it keep

popping in and pop it you didn't have to try this carry for anybody anymore just bring up in my money ja app and pull the replay out and you can play it over again and again and again you know it's time travel from the guys at my money ja so check it out my money ja.com and you can use code limitless when you sign up and get five percent off so that's a little tidbit for you guys anyway back to the episode i was having a conversation recently about you know the whole doom and gloom of the market this that that um and my friend was no no i'm not i'm not i'm not going there i'm not going there at all you sure yeah i mean the market is dead in a bro i don't know if you heard first half of 2023 people were saying that died officially the funeral was in june gene was the officiating pastor like the market is so dead right yeah sure meanwhile people have been making some significantly sensible and predictable profits but go on i don't i don't cut your point but

no no i agreed and we need to talk about that too but um jean never met her never worked with her no not g but um i've lost my phone hold on my point was i don't even remember how i was getting to the yeah i was getting to the point where my someone yeah my friend was asking about um what do you guys think about opening up the market for the diaspora allowing the diaspora to invest like once you're well you can um all right the thing is so with my aunt she wants to invest here and you can yeah she

she's a jamaican citizen right she has a jamaican passport and so on so she can um i think the the biggest issue was like the the tax laws of us um and having to report a lot of those things and you know they have cap gains tax but i don't know if that applies to the capital gains made here and so on so i know it's it's it's tricky but i'm not sure if everyone can invest in let's say you're i don't know i think the population of jamaica is what close to three mil we have about the same amount of jamaicans outside outside inside yeah yeah they can invest even americans it's not a jamaican only market but i think the issue really is there's nobody sending a process to them or gathering their interest in a certain way so there's nothing

that's like okay let me make it easy for you to open a an account here and set up your investments as easily i can go away day to day like where are. I think that's part of the problem. If you call, I know what it's like inside. Fatica confuses most people inside the financial houses. It's not part of their job in certain ways. We kind of show fit of compliance and it's a part of sales. Most of us

deal with it as a problem in a certain way. Nobody really likes dealing with it. And the thing there, nobody's talking to them about yo we can get a jamaican and they are here but i don't think there's a campaign towards jamaicans overseas that say yo you can really invest in jamaica in this way you know how they usually invest in jamaica by a house yeah yeah that's really how the investor just buy a house or say or send money to bill a house yeah and then comes that day 15 years from now or jimmy come back from england and find out somebody else or the house is a girl down the road driving a bimmer or something like yeah there's no house that happens um i think it'll take a lot the market is open anybody can invest there's no

restrictions on them um your home country requirements are your home country requirements i don't know about jsc being able to lobby governments along those lines or they should but i think that um making it more attractive to the diaspora and i said that's because i care more about the diasporas i care about anybody that's not jamaican no offense to the non-jamaican yeah it matters and um i think it's more a matter of them becoming more comfortable with it and knowing what not to expect and what to expect right so what i think often happens is like it is the brick talk episodes where you have it where you have the jamaicans who call in and they're

like you know i need my robin hood and and it's yeah okay so we don't have robin hood we have my money ja yeah and you might not be trading on my money ja and it might the j trader thing might not work in the way that you expect but come i say, maybe come to the market with an open mind to see what it is, not what you want it to be, right? I mean, I have the same, like I think every Jamaican. I have a relative overseas who, not in Jamaica could ever be good, right? There are just some people like that, right? That's what I missed, right?

Because you're tired of that. You know, I don't know. that's what they list right it's almost it's almost like they is that they're looking for what they want versus yeah versus what they expect to tell us how bad the market is

because I don't understand it exactly nothing will go on in Jamaica nothing will go on in the Jamaican market why because the stock you're in is down. Because you picked a bad stock at a bad time. And sometimes it turns out that you didn't even pick a bad stock at a bad time. You were just talking. That's the truth.

You're firing shots at Casper. I don't disrespect the dead come on it's just it's just look at the market for what it is yeah look at the market for what this versus what you would want it to be because if you look at market for what it is you see the opportunity that's there but the interesting part if i'm going to go to the u.s market anybody going to do that's what they do they try to find out how this thing works and so i don't know why we have this idea that okay we come here and we must do the same thing exactly exactly so i think just as the market itself continues to grow and the more popular diasporans will

will participate some already have been participating. Definitely. One of the moments along the timeline of the growth of, especially retail investing in Jamaica and the popularity of it, one of the moments along the timeline is me recognizing an investment made by a diasporan. Ah, yes. Sometimes they see them in top 10 that is exactly what happened that's exactly what happened i got i got the i mean at this point i think it's it's uh so i can't say so there's like a yeah i got a top 100 list at a time okay so you

might get lucky and you get one right so i got one and i'm looking through it and i spot somebody's company that they were on twitter talking about and i'm like huh look at that because at the time i was paying attention to the company too and i was looking for certain things and i saw it and so i tagged them i'm like what's up with this right and as much as it did a whole other saga came off that it actually matches what you asked about because it's a diaspora and who was that who made the investment and that's what i saw i just happened to know it was them because of the name of the company that they use that they tweeted about that company previously and that yeah i think

it will continue to grow i think will happen happen. And if you're thinking truly about market expansion, which I always am, it's the tools around the market. That's why I have MyMoneyJA. That's my nice plug for it. That's why I have MyMoneyJA because of the need that I saw in many ways to make the accessibility of it so much, so much, so much easier.

That's why we've done the app because as great as the website is people like an app so we did an app so you have app of the app you have the android app you want to give that that's it's actually linked back to my earlier point an advanced market is not a mature market is not just the tools in the market it's not just the market itself it's the tools around and the support for that market, right? And so encouraging people to go out and do it, encouraging me and my co-founder to put blood, sweat, tears, and millions

into building a tool like this and ensuring that a piece of it always remains free so anybody can try it and do it is the thing that really makes a strong market. But I say all that, and I'm going to give a small caveat at the end. I am more concerned with more Jamaicans investing than I am with more

diasporans investing. We don't reach out to them. A lot of Jamaicans just not really see it as an option for them. It's still a rich man thing to most people. As much as we've seen the growth of it. Talk a lot of jamaicans and sideways like what are you talking about or oh you're a rich man that's why you're doing that yeah in our episode with um ceo of jfp metrisiago he was talking about that like he was giving away shares to his staff

members but a hundred thousand shares and they said no they'd rather take all 50k in cash and yeah it's it's like you could sell it you could give you the shares you could sell it tomorrow and then they're well not tomorrow but when it listed and then they're like no that just shows that there's that gap yeah i think with the development of the space like more players being in the space, because one of the things I realized is that certain people, you pointed out earlier that there's lots of different types of people, right?

So you can have like limitless podcasts. You can have those other people in the space. And for certain people, one of those content creators or whatever might appeal more to them. So as you start to incorporate and add more people to the space or more content creators, they can start to appeal to certain people that maybe this content creator didn't appeal to. So you can overall just get more people investing, more people learning and stuff like that. So I think that's really good. Like us, we're both doctors

so i know quite a few of you know quite a few of our listeners are healthcare workers so and i don't blame my uncle i love the fact that you guys are not in this like you guys are actual the closest thing to this is i'm an investor I'm just investing my money that I work and get. It's not, well, I work in the space and I know this person. I know this specific financial knowledge that I learned in school. It's, yo, come here. I'm a real person outside of that. And I just invest my money.

Yeah, respect. But then you're just showing other people that, yo, it's not a job's not that it's not a job thing it's like yo hey i'm a person this works for me and i get something from it exactly a big thing too is that people know people don't really realize um how simple it can be because yes i guess there's there's a fact that jamaicans naturally a lot of us don't have a strong background in math. A lot of us hate math. So the fact that you have to actually read reports and then there's numbers and things

that throws off a lot of people. You know? So I think... People think it's deeper math than it is. Like it's really just addition, subtraction, dividing, multiplying. It's nothing stronger than a calculator but from a cdm number and you hear it says accounts it does never mind yeah and i mean a lot of the times most of my a lot of my decisions it's not really centered around math

yeah the math comes after exactly it's it's it's, the fundamentals. Like, what does this company do? Like, how are they making money? How can they make more money? Or when you see like, oh, they spent on this. So you see this big number. You're not running on that big number to do any calculations with it. You're just like, oh, that's interesting. And the most is that big number relative to the other big numbers on the thing, right?

Exactly. Okay, I need to know. You don't need to know the numbers to be recited or whatever. Exactly. I know them buying a building and then spend XYZ on it. I don't care what XYZ be on that talk. It's all they buy a building,

what I'm doing with it. They stop me in the mass very quickly. What's the real life that's happening here? Sometimes it's as simple as seeing that a lot of construction is going on in jamaica okay which companies could benefit from that there's only one cement company listed so sometimes it's as simple as seeing that okay i'm seeing a lot of these these like people it's funny like a lot of people will complain about oh look how this high-rise going up them i build

another apartment here they're building up whatever okay guys i look at it they complain our profit matthew but yeah you look at the you look at car cement so that's so that's how you start the analysis you actually go to okay jamstack website whatever you pull up the report oh wait they're making this much amount of money they say they're going to do this thing that's going to allow it's like they can sometimes it's as simple as the company can lay out something like oh the main reason we're not making money is because this we are going to do this to fix it we have now fixed it and then like it's just buying along that timeline there was a i was on um same thing happened with car cement signals yeah same thing with same thing happened with many many companies

like you've heard you've heard you guys if you talk about earning season you've heard especially in the early episodes i've talked about i still do it all the time when i do grow up and i'm teaching people about that the two things that you guys mentioned the two things i try to get them to understand the most one is not a lot of math if there is math addition subtraction like that i say look at division sometimes my money exists to make you yo if you're afraid of the maths my money j does the math for you yeah i forgot work out the p e ratio we worked out for you yeah you don't forget dig through what the what the earnings of the company were, whatever. We lay it out for you. We'll go to the point where you don't understand percentages, don't worry.

If this part of the graph bigger than this part of the graph, then they made more. You know, if something is going up or down just visually, it's deliberately done to simplify. And all the stuff that we do there's a heavy spin on it to provide information but also to simplify it for anybody who not really trying to be that deep into it right but the other part is the what you need to make money on the market which is the prediction and it is crazy to me i said it more than 10 years ago i still saying it no it is crazy to me how low the effort to profit ratio on the jc is companies will tell you so how you know that and i yeah they told me i didn't do a not that i don't do deep research i do grow i mean grow rich with research

i do do deep research sometimes you guys are aware of how deep sometimes i'll go with the research then i know how far along the lines i will go when i'm doing research but the truth is that is the passion that is the the premier league of the investment world that i'm doing you don't need to you can go and play a Saturday ball game with your friends and have just as much fun right and probably make just as much money and no those well well okay yeah yeah no no no you are correct you are correct you are correct me and you can do very different research yeah someone could spend our research and someone could spend a month researching. They buy the stock at the same price.

It goes up. Exactly. Somebody could spend 10 minutes researching. Somebody could go, I buy cash pot every day and KFC every Friday. KFC

sell the chicken from Jamaica broilers. SVL sell cash pot. Now, if I did a deep research into working out the percentage of Ghana that gambles and the actual youth percentage of Ghana and the general GDP

and I make assumptions as to the general disposable income of the rent of the the averaged garnian and what that might look like in terms of percentage of going into a new game and what percentage of garnians are tech linked and how often and how much they play and add that back as a revenue number and bring it back to svl's revenue apply some estimates along the lines of whatever the expenditure might be and estimate the profit and use that to estimate the dividend three years on the line i make the same level of profit as a person who got you're

gonna buy cash but every day so one day i'm gonna buy svl instead of cash but if you buy at the same day at the same price same profit yeah but and and another thing i say i go to the people who go all the times that i've never met a jamaican who doesn't already know more than enough to be a really successful investor they just don't know that they know yeah they think they don't know this right way i just never really go there like that it's a weird thing and once people start to realize it it changes for them like and that's that is another part of what has driven this push for years to do the good the bad the ugly that's what i was doing this push like when i i can i have seen what it does to somebody when

they get it you don't even need me you don't need that now you don't need anybody once you've gotten it you can't be somebody on your own just doing it once you get it you can't unget it you can't forget say your gas there you can only own one gas station currently two sorry two right two and if you buy gas from one all the time yeah why not own piece because you've never gotten back money from a gas station in the past unless you were the gas station owner so that's so why not do it that's what that's actually why I fill up at Fesco but in reverse the Fesco has made me money in the past so I just say oh might as well because yeah so you know here's a funny thing I should ask you guys, which is fresh, fresh, fresh. So in the Grow group, in the Grow subscription, we have the chill sessions, right?

And so we talk about stuff all the time. And I was using an analogy at the last one the other night. I was saying to them that IPCL, in my view, is Fesco for doctors. I don't know for sure. It's a gut feeling. I haven't solidified it with any heavy data. It's anecdotal. But it's Fesco for doctors. I don't know for sure. It's a gut feeling. I haven't solidified it with any heavy data. It's anecdotal. But it's Fesco for doctors,

meaning that I feel like the doctors who are known to, and you guys are two doctors who own shares, assuming that you guys own IPCL, but I feel like the doctors who are practicing doctors that own IPCL shares, they're going to use the IPCL notepad.

Yeah, well, no, that is very true. Or they could just send, the thing is like, say you going to use the IPCL notepad. Yeah, well, no, that is very true. Or they could just send, the thing is like, say you're a doctor that's sending people for scans, you could say, oh, you can go to this place. But they might just say, yo, the same thing with like Fontana. Say there is someone who's like, oh, yo, I want to. Yeah, you say, well, you can go to this pharmacy, but maybe they're like, yo, Fontana.

Fontana, my pharmacy. Yeah, it's funny, I never thought of Fontana, my farm. Fontana, my farm. Yeah, it's funny. I never thought of Fontana, but I thought of IPCL. I said, that's the analogy I use when I say, yo, it's FESCO for doctors.

Meaning, you own FESCO and once you own FESCO shares, you're not buying gas now else. Right? It's the same if I'm a doctor and I have some shares in IPCL worse after I get the dividend check. Yeah, man,

go down to Apex under the scan. Yeah. And most people don't know that, yo, you can go to anywhere without the paper the doctor give you any apex i go to apex yeah because the doctor sent me here and i feel i feel like that i looked at that as like a possible leading indicator for them right and how much math was involved in that none right and of course of course we can apply math to it. And there's the math that you can apply, which does help us if you want to be at the Premier League level of the games.

But the goal is the goal. The funny part too. Think about the same two examples. The person who does like that deep level of research, the person who does the cursory glance. And the person who does less researchory glance so you could and the person who does less research could actually end up being more profitable because the time that it might take supposed to share price moves up in that time so that's that's just kind of ironic you know but at the

end of the day guys you should always do research i'm not this is not me advocating for no research i i advocate for as much you know as much research as you think you can do. Do it. It can't hurt. It can't hurt. No problem. I mean, there are things that I have researched on the way of researching something else that turned out to just be a tangent or turned out to necessarily be yeah and six months later something else another stock happened but

it just happened to deal with that point yeah a lot of that maybe i think in my life the most direct version of that is the amount of the law i know and the amount of accounting rules I know and I'm not an accountant at all me I used to fray the mats used to fray the mats I'm not an accountant at all but here then I joke all the time I say oh Randy's an accountant because we'll be debating something and I will go no no no I or I'll point out my prediction for something and I'll be like well you know IFRS 9 mean that it's going to have to. And I'm quoting and I'm telling the IFR, I've done that with accountants and them don't know. Oh, IFRS 17 is going to cause this.

And so they're going to change at this point and that is probably going to have this effect. And when the market see, like the research helps. So do as much research as you can do, as much research as you're comfortable doing. And do as much research as you can do as much research as you're comfortable doing and do as much research as your goal requires and if you don't know how much it is more but the truth is if you if you don't know none i mean i am always gonna advocate buying buy stocks how much research people in that buy cash for them let them dream yeah which one is more likely to work out right yeah I see people

I saw a tweet the other day somebody saying that them dreams see it's so weird that them dreams see Salada and I'm like that's a funny thing to think to do and also to tweet dreams see what them dreams see Salada in the same way yeah like Salif

it's a weird thing but yeah how much research Dreams of what? Them dreams of Salada. In the same way, like Salif. It's a weird thing, but yeah, how much research do people do when they gamble? And gambling is true luck. There's nothing behind that. But the stock market, there's something behind it. So, yo, do it. The valley right there. And research don't always mean

you're digging down into these deep numbers. It can mean, like I say, yo, you go KFC every Friday. You sick sick and you went to apex and the line was long and you know say when the next case you open that's more chicken a cell and you're here there we go we're tied up back to the doctor example so the suppose a doctor at a hospital is like yo at my clinic um most of the patients get sent to apex then they'll be saying hmm then they message their other doctor friends say yo where you guys send most of your patients to apex it's like oh and i'm messaging my other friend i'm saying apex it's like wait

and it's like wait and then you can go another level so wait was that always the case they're like no you know no yeah we used to say we send them to change then something something they set up this new package so you say oh and then apex may not have reported yet so you are able to use that i could have sent them to elite and then say yo wait we stopped sending them there because the machine wasn't working so we send them to apex yeah the machine on plug so we send them to apex no it's serious no i'm i'm not even this is not made up this is serious like i'm i'm literally telling you somebody's first story yeah oh story like it yeah it happened like like we always joke we always joke about the machine plug out because for a long time we were like we actually were asking doctors and they're like no there's sometimes you just call and ask if your machine

up with your business yeah oh no this machine is down it's been down from last one, yeah and I'm saying fix until at least month after next thank you I remember, or the technician is supposed to come next week, ah cool, say no more yeah yeah yeah and that I don't know

if we're out in public, anybody that knows me knows I'm nice when I'm out in public, anybody that knows me knows. I'm nice when I'm out in public because I was raised in a loving home, raised with manners. But also, the security guard always knows a lot. The person at the front desk always knows a lot. And they don't know how much they know. So I'm always willing to listen and hear how terrible things are at work and complain our profit a lot of complaints like matthew was pointing out earlier a lot of complaints are profitable right yo the boss

wicked wicked boss what's going on brother a week's now we know we used to do one shift no more everybody come in shift and a half and they have a next shift but the new people and work on the next shift let me say what the new people are the new people in my work at night so the new people working at night and you guys doing a shift and a half yeah wicked them wicked so really oh all wicked shareholder value yeah i'm bringing it back to like a simpler level and that's like a jfb dot right yeah i remember pointing out how jfb was so proud at ipo they were so proud of the fact that they um their factory operates off grid during the day 100% off grid and then like two or three quarters in one of the complaints that they had around the spiking expenses was that their JPS bill has gone up. Now, nobody's going to put those two things together normally,

but I mean, nerdy me, let me get this straight. During the entire day, you do not use JPS at all because the entire factory can run off solar, but your JPS bill has been consistently higher and higher. Well, that must mean that you're running the factory when there is no sun that's night why would you run at night if nobody likes jps except for jps shareholders right all five of them right um but but nobody nobody is going to willingly take on a bigger jps bill if they don't have to unless they're getting something out of it you know an increase in value so if you're

having a bigger jps bill why would you be running at night when you can run in the day for free it must mean oh no we're running at day also well why would you run all day and also in the night it must mean that you have so much work that your factory has to start shifting its odds. Now, that's just a guess on my part, right? So you start solidifying it up with other things. So you check social media. Oh, they're hiring a lot more workers. Well, if you're running at night and you're hiring a lot more workers, you're saying flexible.

This is a quote from the ad. Flexible shifts. Flexible shifts are one of the perks that they're saying for the workers. So you can work a day or work at night okay that's good in two ways it's happy for the people who get that job but for me they have so much work that they're not also operating at night and willing to pay jps for it right and then no surprise then when you keep hearing them talking about listen we have more jobs that we can handle.

That's a problem, but that's a good problem. Still a problem, but it's a good problem. It means that the thing that I invested in at the start, well, I didn't. I did not participate at the start. But the thing that would eventually be looking at because I can get it cheaper than I could maybe right at the start is working much harder than it has ever worked in its 30 odd year history. Right. So you can see the social media ads sometimes too. Like,

Oh yeah, we're hiring. We're looking for this technician and that, and this carpenter. Yeah. Yeah. You see work and you ask anybody, ask Siki.

Siki, what have I done? They go, me no know. It's a go, our hotel or, or you pick dots up all over the place you know they them to every kfc every time a starbucks open up i'm happy yeah right i've been watching starbucks middle's road from it was just a sign on the on the wall coming soon

starbucks radio and i thought coming soon increase in profit like like it's around us all the time you don't have to be a you don't have to be an expert to be an actual expert it yeah it's it's a wonderful thing it's a wonderful thing and it's i hope it keeps growing yeah indeed yeah yeah which i don't know if you remember then but you did ask about the doom and gloom that which is why i dislike the same because so we're here as a fantastic food right oh my god using the power of profit alright guys

I hope you guys enjoyed that like I said that was part one of what was a very very enjoyable conversation for Dana and I and for Theon and Matthew listen out and look out soon for the rest of it and we go deep point all the things right we touch the actual market we talk about a couple of stocks

we really get into it so look out for it and like Theon say big up we'll see you guys soon poor scumbag captain gains