flighters and hatchlings. My name is Marlene McCohen and I'm Tracy from Results with Tracy. And welcome to Parrot Chop Chef. And by the way, for those of you new here, this is Brando. This is Leo. Here's how this show works. Yes, we are creating healthy food for your birds, also known as chop.  And then you add your herbs and you have chopped for your parrot. But for those of you who are like, wow, I got to make chop every day. And I also got to make my meal or my family's meal. We're showing you how to turn your parrot chop into a healthy meal for yourself as well. So stay tuned to the end to find out what we do with this amazing chop. We've done a lot of really cool things. So go back and watch some previous episodes. So don't think this is a cooking show just for the parrots, although our primary goal is for your birds to eat healthy. We also want to get you eating healthy too. And that's where Tracy comes in. Brando's eating my mole. And we're going to try to get Brando to eat a chop instead of moles. Moly moly mole. Oh my God, I know. Today, in our strawberry spinach salad, we have strawberries and raspberries. This is actually more than just spinach. This is spinach, arugula, and kale. Okay. Oh, sorry. No, no, no. I don't see the kale. I think we ate it last night and that's why there's no kale. And bok choy. No, bok choy. Why didn't you tell me? Kiwi. Kiwi. There's two kiwis to be exact. Almonds with basil and mint and celery. Okay. This is, I'm excited about the raspberry. Okay. But, um, okay, I'm a picky eater. So like mixing stuff is a little weird for me, but I'm excited to see. Oh, I'm excited to see what we're going to turn it into at the end. That's my favorite part. Yeah. This is one of those meals that will have some fruit in it for your birds, but most of the other ones were strong in the veggies. This looks like it's strong in the dark greens, which I love. The leafy greens are great for your parrots. Chop the spinach. Bye. Chop the spinach so fast. We lost all the birds. Now we have celery news here.  Celery is really great for birds. Just chopping it all over the place. It's for the one that's going to probably wander over. That's going to be Merlin. At least he has something when he tries to get in the snack closet. He won't eat any snacks. He'll be right for the celery. Put that in. Oh yes. What are these? Almonds, basil, mint. For those of you just joining in, the counter is messy because we have removed everything from this side of the premises to, you know, make a set. So ignore, but enjoy Merlin flying in. Here are the almonds and basil and mint. I think when you add these herbs that you're choosing to add like the basil and the mint, I think that's what's giving it that like super healthy taste. Yeah. Yeah. It's really fresh. It's got like a very fresh vibe. I feel like I'm in Costa Rica, you know? Yeah. So the mint is always nice with fruit and mint together. Just like you have two kiwis. Two kiwis. Now strawberries are one of those things that you have to wash really well. Did you wash it really well? Yes. I washed them individually and then I put them all together and washed them together in the strainer. Oh, that's fantastic. Yeah. I knew you would say something like that. I think I should help you chop this. No, please, please. As you are in your nails, they blend into the strawberries. What do you think?  You have to protect your fingers. Oh, that's too much. My hand touching like that silver part, it kind of hurts. Thank you. The birds are going to love it. Is that it? This is it? It's done? This is our spinach strawberry salad. Yeah. We're going to turn it into Tracy, because I'm dying to know. A smoothie. Dumb. Yeah. I mean, you could turn it into a smoothie also with almond milk, coconut milk, water. Oh, really? Absolutely. What about orange juice? No. Okay. We're going to do it with what we have here, which is oat milk. Okay. So this is still a plant-based vegan option for us. Yeah. Should we get George to operate the blender? George. Yeah. We needed to operate the blender and hopefully you're not wearing a savant shirt or whatever. Oh, wow. Sporting our merch, George. Okay, George. So we need the blender because this is George has went to a garage sale one day and came home with a commercial grade blender. All right. We do need a commercial grade blender for a commercial grade type of show. Oh, wow. Can I have some? You mean before we blender it? Yes. It looks like it's a fruit. It is. It's a great fruit salad, George, but you missed your opportunity, of course. You didn't actually give me the opportunity. I know. They're on a cooking show. It's so much nice. We're on a cooking show. Can I have a taste of it? At least. Yeah. That's Merlin's. Merlin's going to come over. This looks amazing. It is. I don't want to cover the ingredients with the milk. You can always add more, but you can't take away. Okay. So I filled up to three-fourths of the, like, where the ingredients are and then we'll blend it. You can always add ice too. Ice will add a little more volume to it, but yeah, they don't have ice. Just get to blending. Okay. Cheers. We don't know. You have to find out. Don't react. Don't want to react. Okay. Cheers. Cheers. Oh, it's so good. It's like healthy and good at the same time. Wow.  That's good. Do you like it? It's like moving closer. It is good. I like it as a salad more. Yeah. So you're, you're, I think I like it as a smoothie more. Really? Yeah. Everybody has their thing, but I think the salad for me, it like feels it like a, you're hungry. That's fine. Yeah. It feels more like a, like a meal rather than a smoothie. But this is amazing too. But definitely the birds can have this too. All right guys. So you heard from our biggest critic, George, down that. So I know that this is good and I'm really pleased. We have finished it. If you have something you'd like us to make, something that's your favorite food, let us know in the comments and we'll do our best to accommodate you. Yeah. And let us know if you tried this, how you like it. Don't forget to come back and comment, check out our previous episodes to see what else we've made. We have turned some regular chop into some really cool things and we've got a lot more to come. So stay tuned for next week. I'm really excited to be here with you guys and thank you for watching. Parrot Chop Chef. We love you guys. Bye. Bye.


What's up everyone it's your girl Kenty here from Layton Sports Cards and I'm ripping a personal for Wenchu L. We've got a 2022 Diamond Kings baseball hobby. All right best of luck Wenchu. Thanks again for hopping in. Here we go. Just a reminder that no base card ship that includes base rookies. I will pull out the O'Neill cruise and the Wanda Franco so for ya. Here we go. Josh Donaldson with his France level two. It's got Hans Kraus on the Diamond Kings auto. Phillies. Perez and Cow Raleigh level three. There she is. Got Grey Border Jose Altuve. Mastros of Rod Carew. Ryan Ballet level two. Got Wanda Franco rookie level one. Zerfa. Lou Gehrig. Adone level two. We've got Salvador Perez on the Jersey Kings. Royals. Modern Strokes Jose Abreu and Eli Morgan level three. We've got O'Neill cruise rookie. Cody Bellinger and John Keasley level two. We've got a one of one Alex Bregman on the Diamond Kings masterpiece. Here you go Wenchu. Nice one of one Bregman. That's awesome. We'll bag that for ya. Got Ryan Sandberg and Brandon Marsh level two rookie. Semi in and Tyler Gilbert level three. Yep I can see your messages Ty. What are you guys trying to do? Yeah what's going on here? We've got Grey Border Shohei Otani. Got Jonathan India Riley Adams. That mirrors we've got Plum rookie level two. Spencer Strider. Gaby Reese. O'Neill cruise aficionado. Shane Baez. Williams Gonzalez. Betz. Modern Strokes Corey Seeger and level three Jake Berger. Back here for you. Teri Galleria stars of Wanda Franco and a Aaron Ashby level two brewers. Alrighty Wenchu that will do it for your personal congrats again. Thanks so much and we'll get this right out to you.


Hello everyone, welcome to another video. So I just thought I'd sit down and talk to you about Louis Thoreau again. Now I made this response video to Louis. A couple of documentaries he was doing on hunting. And those clips were uploaded to YouTube about six years ago. So I was responding to Louis like he was a meat eater. I assumed he was a meat eater. I couldn't find anything about him being a vegan. And then people started to tag Louis in the Instagram version. And I was like, you know, I was quite full on with Louis in this video. I was calling out his hypocrisy. I was quite passionate as usual.    So he's happy to eat the meat himself, but he doesn't want to kill the animal. I'm like, Louis, you know, wake up, look in your own backyard. You're paying for egregious cruelties. Now I looked at Louis' Instagram and I was like, okay, so let's go to Louis' Instagram here. I started looking at his food posts and I was like, hmm. Vegetarian lasagna uses cottage cheese. No meat there, but obviously cheese, dairy industry, horrifically cruel. Let's go here. My latest culinary disappointment, vegetarian shepherd's pie with lentils and sweet potato. No meat there. That could easily be vegan, but he says it's vegetarian. Might have cheese on top. Let's keep going. Then he's got these courgettes, roasted courgettes, you know, overcooked here. Here we go. Another vegetarian lasagna. And he uploads this picture here of him cooking out of Bosch's vegan cookbook here. Shataki mushrooms. Veganuary has liked it. Bosch has liked it. I mean, Veganuary epic campaign. Love the guys at Veganuary and Bosch, cool guys. So I was like thinking, maybe Louis a vegetarian. Maybe I shouldn't have been so quick to go at him for being a meat-eater, but obviously, look, we know about dairy and egg industries. We'll get into that later. So I found a couple of articles here. So there's an article here from the Radio Times in 2017 where Louis says, I'm vegetarian by inclination, not in practice. And it says, I can't help but think of the animals being led to slaughter en masse. He says, although he still admits he likes the taste.  So okay, that's 2017. But then there was this article where Louis appeared on a show called Off Menu. And in it, he talks to the hosts about his dream menu and it included a margarita pizza. And for his main course, a slow-roasted barbecue pork. So I even made, I went as far as making a post saying, oh, I think that Louis might be a vegetarian. So in my video, I said he was eating meat. He's not technically eating meat by the looks of his post. I was wrong. I took down those corrections that I made across my platforms about Louis being a vegetarian. He's not because I listened to the podcast and this is what he said. Main course, a big pizza? No, it's going to be a slow roast. Like a kind of Southern slow roast. Slow roast. You know what I mean? Well, if you ever travel in America, I know they do it in England or in the UK as well, but if you travel in the South places like Oklahoma and Texas, they have these barbecue shacks. So he's talking about barbecue shacks in America. They look like they're big drums. Some of them might even be converted oil drums. I guess they steam roast these, I guess, hogs. Or maybe it's beef. Talking about steam roasting whole hogs and beef, like cows. So like far from a vegetarian, this is in, this is this year, July 2020, I believe. I don't even know what kind of meat it is. And sometimes they go, that's been in there for 16 hours. Like this is very tender.  That's been in there for 16 hours. By like, I'm presuming I'm quite low heat. I'm like, what's the secret? Secret is love, Louie. The secret is love, Louie? What about raising animals in farms? Factory farms, most of the times for pigs, 100%. And in America, many cows are factory farmed. Stabbing them in the neck, eating their dead bodies. How is that love? Like, come on. What, it's animal cruelty. And then they, it's love. The secret ingredient is love. So pigs suffering in a gas chamber, that's love.  The testicles ripped out without anesthetic and their teeth clipped down. Mothers in farrowing crates with dead piglets around them. Then they get sent to a gas chamber when they're ready to be slaughtered. That's love.  Now, I thought I might have been a bit hard on Louie because I was like, oh, he might be vegetarian taking steps to become a vegan. You know, he was cooking out of Bosch's vegan cookbook. Maybe he was a little bit harsh. But no, I wasn't too hard. He's laughing over the slow-roasted corpses of animals. I think that's the only other job that I'd really like is to be the guys who just get up really early and put a whole hog on a barbecue. So the radio presenter's talking about the job that he really likes is to cook a whole hog.  Most pigs on earth are living in factory farms. 90% of the pigs in the UK, it's probably over 90% of the pigs in the UK, are factory farmed. And 86% of pigs in UK and Wales are killed in gas chambers, horrible dungeons filled with gas where pigs struggle to breathe, load into carbon dioxide in a dark dungeon where they're fresh and scream and they sound like terrified children begging for mercy. You're laughing over that?  Like, get a grip.  And it's sort of the alchemy of like it changing, the chemical composition of the meat changing. So basically he's talking about how lovely it is to see the chemical composition of the meat changing and slow roasting so Louis can eat the corpse of the dead pig.    Louis, come on, what are you doing? You're in the UK, the land of Veganuary, for God's sakes.  Come on, mate.  Now, Louis, if you feel bad, you have to go vegan. You've got to go vegan to align your morals with your actions. You've got to go vegan. Now, vegetarians support the dairy industry. Do you know what happens in the dairy industry, Louis?  You should know what goes on in these industries. You should know what goes on in these farms. Dairy cows are repeatedly forcibly impregnated, have their calves taken. If the calf is born a boy, they'll be either shot in their head on site or they'll be grown for veal and slaughtered very young or they'll be raised for beef and killed in a murder factory for beef, for your slow roasted beef. And the mother will suffer forcible impregnation year after year, have their children taken from them every single year for about five or six years, okay?  Her skin will be worn like a jacket. Like, in the egg industry, the horror starts on these parent breeding sheds where roosters are introduced to barns full of hens where they can repeatedly mate with the hens and they can fertilize these eggs, okay? Now, when the rooster's productivity goes down, they kill the roosters and then they put new roosters in there to continuously rape these chickens over and over again so they can keep producing these fertilized eggs and then they slaughter all those chickens when at about 18 months old. And what they do with the fertilized eggs is they take them to hatchries so they can incubate them and hatch them and they'll separate the males from the females because males don't produce eggs. So they'll dump the males fully conscious down a conveyor belt into a massive blender called a macerator or they'll put them in a bag and they'll suffocate them to death or gas chamber these infant one day old chicks to death so you can have eggs. Why would you aspire to be a vegetarian and cause all of this animal abuse? Vegetarian means you just don't eat meat but they can still wear leather, wear wool, wear fur, wear down, all horrifically cruel, go to circuses, pay for dog breeding, I use animal tested products. Vegetarian means you're just getting the flesh out your life. You're still paying for all these horrific things to happen. It's not something to aspire to be. It's my real weaknesses a really good slope. I could care less about a Sunday roast, do you know what I mean? Like just you know when people say we've got lamb for our Sunday roast, I'm like whatever but I don't say that. But if they said it's been on since like nine o'clock last night, it's been cooking for 16 hours, I'd be like okay now you're talking.   Louis, you have to sit down and watch Land of Hope and Glory.  Okay, sit down and watch Land of Hope and Glory and then you'll understand why I'm so passionate about this. It's absolutely, horrifically cruel. You see what happens to the pigs and the chickens. Most chickens are factory farmed in the UK. Red tractor approved, RSPCA approved farms. Most animals in the UK are factory farmed, 70%.    Come on, Louie.  Yes. Can you serve it to me with a weird, bad Southern accent? Yes, I can, Louie. I can do that right now. So, Louie, like, you know, I was a bit harsh in the last video and I'm going to continue to be a little bit direct and harsh, Louie here, but like, you're laughing over the corpses of innocent beings who are being butchered by the billion and you even know about it, Louie. You even know about it. You shouldn't be talking about these things in jest. It's horrible animal cruelty. Would you be laughing over the boiled bodies of dogs in Newland China where they chuck them in a big barrel of boiling water where they're fully conscious to remove their skins or where they cut their paws off while they're still alive and they get taken from the streets and put in cages and horrifically abused?  Come on, mate. And what was, did you go for pork in the end? I think it's pork. I feel it. Pigs, one of the most abused animals on earth, like, horrible and especially here in the UK.  Pigs cannibalizing each other, feral cats in there eating dead piglets on the floor. Piglets having their heads smashed against metal bars to kill them with blunt force trauma. Blunt force trauma is very common across the industry. You know, pork, come on, mate. You can get vegan alternatives. Do you think one day they'll be able to make meat that tastes that good but with vegetables? Why wait? Why wait? You already have Beyond Meat and other amazing, you've got meatless farms, you've got this isn't chicken or this isn't bacon, you know, you've got great brands already here in the UK. This is the land of Veganuary, Louis, and I'm sure you know about Veganuary. Now, you can do this right now, okay? Now it does taste.   And is there pleasure in taking an animal's life? That's what's hard to get to grips with. Louis, you're getting pleasure from the abused tortured corpses of innocent beings who are exactly like dogs, okay? And, you know, using taste as a justify almost, like, oh, I'd love to be vegetarian or whatever, but I just love the taste of meat too much. It's like, come on. In any, you know, in any other scenario, you'd think the person was an absolute psychopath for using pleasure to justify something horrifically cruel that has a direct victim, like the animals do. Like, could you imagine like some rapist going, oh, yeah, but, you know, oh, yeah, that person is traumatized because I forced myself on them, but, you know, I gained pleasure out of it.  I like the vegetarian and vegan food where they're not trying to replicate stuff and they just show you how incredible vegetables can be and non-meat products can be. Well, I'll tell you what's incredible. The feeling you get when you're avoiding the horrors of animal agriculture, that's pretty incredible too. That should be a motivator, not taste, not, oh, I don't like my meat to be replicated by vegetables, just avoiding horrific cruelty. Those are the ones that make me go, actually, I could do this more. Then I'll go through a longer patch of not eating meat. You should watch Land of Hope and Glory, guys, all three of you.  There's another one called Dominion as well, but I think Land of Hope and Glory applies to the UK.  Well, I'm really getting into the dishes that meat couldn't even replicate if it tried. Yeah, you're so right. I'd like to see a meat piece of meat try and be a portobello mushroom. You would be perverse. It's like, hey, guess what? Vegan food industry, you think you've got an impossible burger? We've got an impossible mushroom made entirely with pork. The idea of these vegan meat companies or plant-based meat companies is we want to avoid the horrific cruelty, the environmental destruction, and still give people the flavours and textures that they're used to. So why would you do it the other way around? I know they're trying to be funny, but it's kind of a serious topic, man. It is a very serious topic. And Louie, what if these burgers were made out of children's bodies? Would they be laughing about this? It just shows the level of contempt people have for animals. But put Louie in a slaughterhouse. He should do a documentary on a slaughterhouse. Maybe he should just go and experience what the animals experienced for five minutes in a farrowing shed.  We've got footage of gas chambers, Louie. Check it out. You bread pigs and their left trotters have gills like a mushroom. Is the pigs' lives a dreadful? The pigs' lives are dreadful and they're like laughing like this. It's just nonsense. It's bad taste. It's in bad taste this joking about animal cruelty. We think it's worth it because when you taste these meat mushrooms you are never going back to normal.  I was trying to think of another animal that you could make a page about but then my first thought was going to be horse and I was like, well, we don't eat that anyway.   Well, they do in France, don't they? Some of the meatballs were made from horse. Why are they? If you claim there's no horse in these meatballs do you tell us what's in them?  I mean, what's the difference? So anyway, guys, I made the response video about the hunting and Louis' hypocrisy. I thought he might have been a vegetarian moving towards vegan so I made like a little post saying, you know, maybe he's taking steps but he's still using products from the dairy and egg industries which is bad, you know.  So Louis, mate, look, you show compassion in some instances when it's time to shoot a hog. You're showing that you can use more plant-based foods and cook out of a vegan cookbook.   There's no taste in the world that would make me want to cause that amount of cruelty to another individual or just do that to someone. Even if they were treated nicely, I wouldn't want to pay for them to be bulk-gunned in the skull, be dismembered so I can eat their slow-roasted body.  So, mate, if you received this video, if you, by any chance, watch this, sign up to the Vegan Challenge down below. Do Veganuary. Hook up with the Veganuary guys.  I don't take back anything I said in my last video. You're an avid meat eater.   I don't know why you would do that.  Come on, Louis. Snap out of it, mate. Sign up to a Vegan Challenge. Get into it like Watch Land of Hope and Glory. Obviously, you need to see exactly what the animals are going through, especially in the UK, and all across the world, you travel a lot. You've got to be vegan, mate.  All right, guys, I hope you enjoyed that video. What did you think of Louis' podcast? This is very recent this year. Louis, mate. To say I'm disappointed would be an understatement. All right, guys. See you all in the next video. Peace.


Hi, I'm Pastor David of Calvary Chapel Chino Valley. As we approach the Easter season, it's important to understand the reason why we celebrate. We know that over 2,000 years ago, Jesus Christ lived a sinless life, was crucified to pay the penalty for our sins, was buried, and rose from the grave on the third day. That third day, the day of His resurrection, is the day when everything changed. Over the next five weeks leading up to Easter Sunday, I'd like to take you through portions of Chapter 15 of 1 Corinthians, which is devoted entirely to one central doctrine, the doctrine of the resurrection. Today I'd like to present you with five reasons why the resurrection is central to our faith. First, Jesus claimed to be God in human flesh, and His divinity is proven by the resurrection. We see this in Romans Chapter 1, Verse 4, where Paul wrote that Jesus was declared to be the Son of God with power according to the Spirit of holiness by the resurrection from the dead. Second, the Lordship of Jesus depends on His resurrection. In Romans 14, Verse 9, Paul said, To this end, Christ died and rose and lived again, that He might be Lord of both the dead and the living. Third, our personal justification rests on His resurrection. In Romans 4, Verse 25, it says, He was delivered for our offenses and was raised because of our justification.  Fourth, our personal salvation depends on His resurrection. Paul said in Romans 10, Verse 9, If you confess with your mouth the Lord Jesus and believe in your heart that God raised Him from the dead, you will be saved. And fifth, our own resurrection rests on whether or not Jesus was raised from the dead. Paul shared in Romans 8, Verse 11, But if the Spirit of Him who raised Jesus from the dead dwells in you, He who raised Christ from the dead will also give life to your mortal bodies through His Spirit who dwells in you. Christ's death, burial and resurrection were at the core of Paul's preaching time and time again as we see in 1 Corinthians 15, Verses 3 and 4, because Paul said there, For I delivered to you first of all, that which I also received, that Christ died for our sins according to the Scriptures and that He was buried and that He rose again the third day according to the Scriptures. These were real events that had eyewitnesses. Paul preached these facts so that others would believe and come to faith in Christ. May we be reminded of the saving power of the gospel and be moved to share the good news with others that their lives may be changed as well. God bless you.


New students in this topic we shall discuss, simulate and tabularize all the hormones which are involved in metabolism and development. Several hormones that we have studied so far are involved in the regulation of metabolism and developmental processes. These hormones include insulin, glucagon, glucocorticoids, catechol amines, thyroxine and growth hormone. These hormones are secreted by different endocrine glands and belong to different chemical categories that is they may be proteins, steroids or amines. But all have their role in metabolism and development. We shall summarize them first in insulin which is produced by the beta cells of pancreas. It is a protein hormone and it targets almost all tissues of the body except the neural tissues. Its primary action is to increase the uptake of glucose and amino acids by the cells. This hormone is more secreted in the presence of high plasma glucose and amino acid level whereas its secretion reduces the low glucose level as a result of which it inhibits smetostatin hormone. Glucogon hormone which is produced by the alpha cells of pancreas is a protein hormone. Its target tissues are the liver and adipose tissue. Its primary action is to stimulate glycogenolysis. It also promotes lipolysis and in the adipose tissues. Glucogon secretion increases when glucose level decreases in the blood. In addition to this, smetostatin hormone inhibits its production. Glucocorticoids in which cortisol, cortisone and corticosterone are produced by the adenyl cortex and these three are steroid hormones. Their target tissues are liver and adipose tissue. Their primary actions are to mobilize amino acids from muscles and fatty acids from adipose tissue. They stimulate gluconeogenesis by liver and as a result they raise the blood glucose level. They also exhibit anti-inflammatory actions. Their secretion is increased during stress and their secretion is regulated by negative feedback through the CRH and ACTH from hypothalamus and pituitary. Also their secretion is regulated by a biological clock. The catecholamines have also important role in metabolism. The epinephrine and norepinephrine are produced by the adenyl medulla where chroma fin cells produce these hormones. These hormones are amine hormones and they target most tissues of the body. Their primary actions include to increase the cardiac activity, induce vasoconstriction, increase glycolysis and lipolysis as a result they cause hyperglycemia. Their secretion is stimulated by sympathetic stimulation and controlled through simultaneous release of ATP. Dear students, another major metabolic hormone is the thyroxine produced by thyroid gland. It is an amine hormone and it targets most cells of the body especially muscles, heart, liver and kidney. Its primary actions include to increase the metabolic rate and thermogenesis. It promotes growth and development and also promotes metamorphosis in amphibians. The thyroid-stimulating hormone from pituitary induces its release from thyroid gland while its secretion is controlled by negative feedback to pituitary and hypothalamus decreasing the TSH and TRH secretions that decrease the thyroxine secretion. Dear students, the major developmental hormone of the body is growth hormone which is secreted by the anterior pituitary adenohypophysis. It is a protein hormone and it targets almost all tissues of the body. Its primary action is to stimulate RNA and protein synthesis and promote tissue growth. It also increases the uptake of glucose and amino acids by the cell which are metabolic roles and also the lipolysis which enhance the production and release of growth hormones when the plasma glucose level decreases in the blood and at a time the amino acid level increases. Growth hormone's release inhibits the somatostatin hormone. Dear students, we see that the processes of growth and development of animals are related to its rate of metabolism. These processes are controlled and integrated by the coordinated activity of these hormones.


Good day, fellow investors. Brighthouse Financial is David Einhorn's second portfolio position. It's trading at a price-to-book value of 0.37 and at a forward price earnings ratio of just five. That implies a 20% earnings yield in the future. That's extremely cheap and in this video we are going to discuss why it is cheap, whether it is a value trap or it's really a bargain. The market seems to disagree with Einhorn and let's see who will be right or what is the risk reward to put it in a better perspective. The company is a recent spin-off from MetLife. As you can see the spin-off was made somewhere at around 70 but since then since last year the stock has drifted to the current price of around 40. So a big big loss 40% loss there. Einhorn opened his position at around 57 so he's also significantly down on this one. What are we going to talk about? We're going to give an overview of the company, a discussion on risk, the spin-off, the current situation and the outlook. Then we're going just to shortly touch on behavioral finance, Claremont's take on profits from his book Margin of Safety, how that translates into analysts estimations at the beginning of the spin-off when the stock was starting to trade and now as the stock price has drifted lower Einhorn's bullish thesis and the market's bearish thesis and then we're going to discuss it, conclude and I'm going to give you my opinion on it and whether I'm buying this stock or not. Brighthouse Financial is a large insurance business with a well-established retail platform. They sell mostly life insurance. The best way to explain the company is just to quote the CEO. We are a domestic only life and annuity company. That's it. And I can tell you out of the marketplace that has really resonated with advisors. As a matter of fact, I've been pleasantly surprised as to how much that has resonated with them. Eric, am I getting a pure play on long-term interest rates with you? Is that why I should stay in the stock? It's certainly a play on interest rates. I would say it's more a play on equities. That's the key. What do you mean? We need equity markets to rise generally. Our base case scenario has equity markets rising.  So if you take a look under the hood in this 600-page form pen document that we have on, you'll see that we're really leveraged to the equity market. We make money if interest rates rise, but mostly if equities go up. We need equity markets to rise. That's the key. So this is a bet on rising equity markets. Nevertheless, Brighthouse is one of the largest US life insurance companies, as we said. The assets mostly variable annuities, fixed and index linked annuities, runoffs and life. They sell annuities with guaranteed minimum withdrawal benefits, guaranteed minimum debt benefits, guaranteed minimum accumulation benefits. So a lot of guarantees that they are selling incorporated into those annuities products. Operating revenues 55% from annuities, 14% life, runoff and corporate another 5%. 9 billion operating revenues for 2016. And there is a huge fee income from selling those annuities. If you look at their insurance ratios, those look fine. The risk-based capital looks good, and the leverage looks manageable. Their risk management framework, they have hedged exposure to down markets. They have total asset adequacy for the variable annuities. And they are well diversified, high quality investment portfolio for the general account credit risk.  So those are the secondary guarantees that they hedge for. And that's a nice risk that we'll discuss in a second. These are the ratios. There is a new framework coming in for now. They are protected there where they don't have enough funding. They are hedged, so they think they are protected in that way. They hope to reach funding level at peak 2026 from their variable annuity block. Those hedges mitigate the risk. So a lot, a lot of moving parts. And that's something that I don't think analysts like. So on their variable annuity assets above the target funding level of the required regulations, in whatever happens, in whatever case, they will stay above thanks to their hedges. However, their amount of funding will be much higher if equity markets increase 40% and significantly lower on a 10% decline and on the 40% decline. The difference in those declines for 10% decline in markets and 40% isn't big because they offer the more sold product is a guarantee protection in case of a 10% market decline. And those hedges give good production, but hedges are costly and their price changes in relation to what goes on in the markets, especially volatility. And here we come to the key chart. In the base case that implies an equity market return of 8.25% per year over the next 10 years and a fixed interest return of 3.5%, which is for me crazy, but call me crazy, they will, the present value of lifetime cash flows does discounted future lifetime cash flows enforce on the enforce very variable annuity block they own is 9.8 billion, which is double the current market cap of 5 billion. If markets, the separated account returns fixed income stocks, equity is 9%, then they, the present value is 14.4 billion. In case of downside, where the separate accounts, equity bonds, return 4%, their present value is only 2.7 billion. That's half the current market cap and that is the risk with Brighthouse. If equity markets go up, Brighthouse makes money, if equity markets go down, they don't make that much money as expected. If there is just one shock of 21%, they have to pay for their guarantees and then they expect a 6.5 return after the shock. If that doesn't happen, then the shock, the present value might be even negative. And this is a big, big risk. So there is a big difference and that's the risk in this case. If markets don't work well for Brighthouse, then the stock won't do also fine. Further, there is no cash flows paid out now. They expect to pay cash flows in 2020 and on their company presentations they discuss distributable cash flows only after page 26. So probably all the analysts at the presentations, those of after first 5-10 pages of an insurance company, so they don't even hear about these cash flows. And that's Einhorn's strategy also. The key is that as the funding increases due to profitability, good markets, then the hedges will be less needed and less costly and there will be much more money to distribute to shareholders. If we look at the highly diversified investment portfolio, mostly bonds, 76% fixed maturities, corporate credit, a little bit of everything. And there is a very, very high quality portfolio with 95% investment grade.  Now the key here, with higher interest rates, a lot of those bonds that are now investment grade and if there is a change in the situation, like Italy was just downgraded, now those become less than investment grade. If that happens, the value of those bonds is lower and the management usually insurance company says we're going to hold them to maturity. But if you own lower than investment grade bonds that doesn't resonate good with the advisors that are selling the policies, the annuities, that means that you are usually forced to sell those at a loss and that's a permanent capital loss. So those insurance companies also as I look at them, while everything is good, while the SAP is going up, everything looks fine, it's a good investment. But the key question here is what happens when things changed, when things change? And for that you have to be a market timer, which we'll discuss a little bit later when concluding on Einhorn's position. However, if markets go down, Brighthouse is in deep trouble. If markets go up, Brighthouse will shine like a Brighthouse. Their focus, their guidance is on 50 to 70% of operating earnings to be paid out, to shareholders, operating EPS growth, 9% return on equity. So very, very positive. Of course, if the markets hold, if we go on the risks, the main risk as I said, what happens if something change? That's the first risk in their reports, risk report, differences between actual experience and reserving assumptions may adversely affect our financial results, capitalization and financial conditions. The key here is what happens when things are different than what they assume? Big trouble, if not on the positive, of course. And this is the main risk for insurers. Blacks wants, we know how blacks wants are much more likely to happen than what statistical models show. And that's why you have thousands of defunct insurers and banks. And that's a risk one has to keep in mind when investing in such companies. Let's continue with the risks. Certain of the variable annuity products we offer include guaranteed benefits. Guaranteed benefits, so you guarantee something, but you are under the influence of the market. The market never gives any guarantees. Haging risks, so capital market risk, if the cost, finally the cost of our hedging program might be greater than anticipated, because adverse market conditions can limit the availability and increase the cost of the derivatives. We intend to employ and such costs may not be recovered in the pricing of the underlying products we offer. So if the market gets in trouble, hedging costs explode and then Brighthouse needs to pay more to hedge for the same things that they are paying now very little due to the low volatility. 2017 everything was good and they still keep those 2017 volatility measures in their models. In August they will adjust their actuarial assumptions and I wonder whether they will adjust also the volatility from 2017 to the new level of volatility, which is a little bit higher in 2018, but can be also adjusted to the historical level, which is also higher. So another thing to keep in mind. When insurers get in trouble, they pay a commission to whoever sells their annuity and that's called the third asset cost. So that's an asset and they amortize that asset over time. However, if the value of what they sold gets lower in trouble, then they have to amortize that faster and then you see huge losses, huge capital hits and downgrades and the house of cards might really fall really really quickly with insurers as it has happened a lot of times in the past. So it's a clear balancing act here between okay, if things go wrong, what's the risk, what's the downside, if things don't go wrong, if things go right, what's the upside, what's the ups and downs. So you have to see how am I protected and in order to gain on the upside. Einhorn here is 107% long with his portfolio, 85% short. So he is long, short. And that's why this stock isn't really for retail investors, if you are not long and short. If you are long, short, okay, bright house, big upside if markets continue, but downside is very big if markets don't continue to grow up. So you have to be long, short. This has to be a long, short part of the portfolio. But that for now, I'll explain that more later. Let's dig more. Also in the base case scenario, they expect the United States treasury rate, 10 year rate to be at 4.25% over 10 years. Better invest than in the treasury probably. And then they get those targets. If interest rates go down to 1%, they have hedged a little bit, they will have a higher degree of cash flows. But remember what happened? This is a 25% shock to equities. They don't expect more than a 25% shock. And that's not a risk that I can accept 40%, 50% shock. Then we can talk about something. What happens if it is a 40% shock and it stays down? It doesn't return later at 6.5% per year. So these scenarios are really rule of thumb scenarios. If you just change those scenarios a little bit, the present value of the cash flows changes significantly. Even if in any case, it is positive. But it is in two cases, scenario 4 and 5, which are likely, if we look at what Delio thinks what will be the 10 year returns negative, then the present value of cash flows also changes here. So risky business for me. Also, when they do their accounts, assumed implied volatility is held constant with respect to market levels at December 31, 2017. Let's see now that they adjourn their actual expectations. Their guidance is, however, still very positive. Earnings per share adjusted without the hedge losses, $8.5 to $9 per share, leading to what? The price earnings ratio of almost $5.6. They announced a $200 million stock repurchase program, which will probably boost and protect the stock. Everything is good. They still expect an approximately 8% return on equity, less the things that they are adjusting for. The primary drivers of second half performance are expected to be equity market returns. So equity markets have to go up 85% in a year. That's going on. That's good for them. Lower expenses, lower claims severity in universal life with secondary guarantees and higher investment income from continued investment portfolio repositioning. So they are repositioning, they are selling their low yields for higher yields at the cost, but they will get higher income from that. And they hope that the new framework that is coming for insurers, life insurance, should pay the way for growth in ordinary dividend capacity in the years to come, as we believe changes in reserves will better align with our hedge target. So the key here, they expect dividends. They expect dividends 2020 that the more, the less they will have to pay for those hedges, the more there will be dividend available for shareholders, the more there will be capital, there will be more dividends. And that's also something Einhorn is playing. However, there shouldn't be a market crash up to 2019-2020. And from a value retail investment perspective, you have to always look, okay, is there a potential for permanent capital loss? What's the risk? If the markets crash, there is a huge risk for Brighthouse Financial too. Like if the markets crash, Brighthouse Financial will probably crash more than the markets. And that's the key here. However, let's see what Claremont has to say about spin-offs from the book, margin of safety. And this is something, this is the bullish thesis also from Einhorn. The behavior of institutional investors dictated by constraints on their behavior can sometimes cause stock prices to depart from underlying value. Institutional selling of a low-price small capitalization spin-off, for example, can cause a temporary supply-demand imbalance, resulting in a security becoming undervalued. If a company fails to declare an expected dividend, institutions restricted to owning only dividend-paying stocks may unload the shares. Institutions owning MetLife that got Brighthouse Financial that is not paying a dividend. Such phenomena as year-end tax selling, window dressing also cause market inefficiencies as value considerations are subordinated to other factors. As Benjamin Graham and David Dodd usually say, the market is not a weighing machine, the market is a voting machine and the market is voting against Brighthouse. If we look at analysts, this is very interesting. Credit Suisse started following with a neutral rating $71 target, JP Morgan $78 target, Barclays 72, Citigroup the only one sell rated at the listing at the IPO, 50 target, FBR, FBR 72, 65 target, 77 and 71. So this was a little bit more than a year ago. However, things have changed since then. Everybody has a hold, only one buy, a friend of Einhorn's perhaps, one sell and the prices, the targets have become have been completely readjusted. The average is now not 70 but 49 and the low is even 35. So see how also analysts change their targets in relation to what the market is voting for. Let's look at Einhorn's thesis, nothing much has changed. He initiated the position at an average of $57.92, no capital return and this result in a low valuation of just 56% of book value, now we are at 37% book value, 6.4, now we are at 5, 2018 EPS. So he says that analysts are laser focused on the downside from a bear market but not on the upside from favorable markets. With the shares trading at 40-50% discount to similar companies, he expects normalization. However, in the last letter, BHF reported mediocre but not terrible year end results driven by slightly higher than expected mortality loss and slightly higher expenses. First quarter announced great terrific results but the stock finished the quarter at 40.07. They have seen bearish analysis that include concerns about long-term care blocks of business that cite the low price at which VOIA financials sold its variability etc etc that has more liabilities than assets. All told, we really don't understand why the stock is performing so badly. Yes, BHF would suffer in large equity sell-off but so would almost every stock in the market. Now, here I want to discuss Einhorn, Einhorn's position. I think that there is a large risk with BHF and that retail investors shouldn't own BHF as see Einhorn, he has 20 what percent, 14-15% in it and then put 15% of your portfolio in it because he is hedged with 96% of his portfolio. So I think he can be afford to belong, hopefully I don't know, with his hedges. So I wouldn't say that BHF is a good stock for retail investors because the risk of permanent loss especially in adverse market conditions is very very big. So that's the key where Einhorn is playing. If you think the markets will continue to go on for two, three years like there are and like there is a big possibility as Trump is doing whatever he can to push the markets higher, even lowering the capital gain tax, then this might be revalued, there might be dividends and that might change the situation. However, that's the risk reward here. There is a big reward, let's say 100% up, this could trade at 80 like Einhorn is saying, but also there is 50-100% down in case of a market crash where I think Brighthouse Financial is more susceptible to crashes, it has higher beta than the market. And here I think Einhorn is hedged. The second point what I want to discuss is compared to Pabrai. I recently made a video about Pabrai and he said that he doesn't find any value in the US market anymore and he has switched a few years ago to India. And I think that Einhorn with his hedge fund based in New York probably only American clients is forced to do whatever he does in the United States. He cannot do what Pabrai did and simply take his portfolio movie to India. I think the clients would kill him. So that's a big constrain to a value investor when he can only invest in top notch famous US markets and stocks because those are usually overvalued or when there is value like in GM or Brighthouse, then there is also big risk. GM we have said, we have discussed it also in another video, link in the description below how GM is risky due to recession, late-party economic cycle, same thing for Brighthouse in case of a market crash. So to conclude I have only one stock in the US but I'm always looking. If I find value I'm not afraid of buying value but the risk of permanent capital loss has to be minimal. In this case with Einhorn stock the risk of long-term permanent capital loss is significant for me and therefore I say pass. If you have a long short position Brighthouse might be something interesting for you. Thank you for watching. If you like this analysis, if we like how we approach investing from a value investing perspective or from a risk reward perspective where if we take such a big risk we expect much bigger upside than what Brighthouse financial is delivering has or potentially will deliver, please subscribe to the channel, like the page, comment down side, share your thoughts and I'll see you in the next video.


I got the text and I nearly lost my mind! This was Michaela's response when she made Time Magazine's top 25 most influential people on the internet. But unlike the other people on that list, Michaela isn't real. She's a virtual Instagram influencer. She attends music festivals, eats at the best restaurants and appears in advertising for brands like Samsung and Spotify. Her 2.6 million followers comment things like, I'd love to meet you. And Michaela even replies to these comments, giving her followers a sense of genuine connection with her. Even if you don't follow Michaela, you've probably met a virtual human. Maybe in a video game or a movie, or maybe even in therapy. Their use in these settings relies on a pretty big assumption, that we respond and connect to virtual humans as if they were real. My research investigates the evidence for this assumption by focusing on the most striking and sometimes creepy feature of virtual humans, their face. Lots of experiments have asked people to make judgments about virtual and human faces, like how trustworthy they are. The problem is that they get different answers. Some find we trust virtual faces less than human ones, while others find that we trust them just as much. My research aims to solve this problem using a statistical technique called meta-analysis. Meta-analysis allows me to combine the evidence for lots of experiments and come up with an overall answer to my question. Do we trust virtual faces as much as human ones? The outcomes of my research could massively alter the course of Michaela's life. If I find that we do trust her, companies like Samsung and Spotify might prefer Michaela as the face of their brand, because she is predictable and can provide reliable and drama-free advertising that humans can't guarantee. But what if I find we trust her less than a real human? She probably won't just disappear, but it would limit the roles in our society she can fill. Maybe therapy with a virtual human is less effective. Or maybe we feel we can be more honest with a therapist who doesn't actually exist. Virtual humans are here, there's no getting around it. So it's essential we understand how we connect with them. Because Michaela might be fake, but her influence on our society is very real.


QuickBooks Online 2024, bill for hourly services of staff entering billable time. Get ready and some coffee because we get work done on time with QuickBooks Online 2024. Here we are in our Get Great Guitars 2024 QuickBooks Online sample company file we set up in a prior presentation opening the major financial statement reports like we do every time the reports on the left hand side in the favorites right click in the balance sheet so we can open link in a new tab right click in the profit and loss to repeat the opening of the link and right click in the trial balance to open the link in a new tab tabbing to the right closing the hamburger and then changing the range we're going to go from 010124 tab 022824 let's break it out on a month by month side by side and then run that report tabbing to the right repeating the process closing up the hamburger first a word from our sponsor yeah actually we're sponsoring ourselves on this one because apparently the merchandisers they don't want to be seen with us but but that's okay whatever because our merchandise is is better than their stupid stuff anyways like our trust me I'm an accountant product line yeah it's paramount that you let people know that you're an accountant because apparently we're among the only ones equipped with the number crunching skills to answer society's current deep complex and nuanced questions if you would like a commercial free experience consider subscribing to our website at accountinginstruction.com or accountinginstruction.thinkific.com change in the range 010124 tab 022824 month by month on the breakout run it to refresh it tapping to the right repeating the process one more rep here one more rep we can do it here we go 010124 tab 022824 tab month by month breakout and then run okay take a breather take a breather stretch a little bit we're going to go back to the balance sheet now the scenario this time being that we're going to be entering time into our system imagine we have a system similar to what you might see in a law firm or cpa firm where we have a staff the staff does work typically for the partners you might have multiple partners that are using the staff in order to do work for basically clients and the staff member then are going to have to give the information that they worked on the clients that they worked on in a timesheet format to the partners so the partners can then bill the clients for the work that has been done so this would be kind of a job cost system you can imagine it in a construction setting as well but it's often also in service areas where you have like a job cost system like a law firm cpa firm bookkeeping firm or something like that so to have a similar scenario in our guitar shop we're going to be imagining that are we have people that do guitar lessons so we own the guitar shop we have people that do guitar lessons they come into our shop we bring in the clients here we're like the partner we bring in the clients we're the money makers and then we have the staff do the work actually provide the lessons and then they bill for the lessons and then they tell us about the about the billings so that we can then bill the client for the lessons that have been provided let's look at a quick flow chart over here to get an idea this is the desktop flow chart even though we're using it for online purposes because we just want to look at the flow of the forms we're in the employee area and we're looking at the time tracking however it's deceptive that this is down here in the time tracking because it doesn't necessarily mean that it's only for employees in order to record their time in other words if we have an hourly employee we might use this in order to then populate the time when we process their paychecks i need to know how many hours they work to process the paycheck but even if we paid them salary in which case i don't need to know their asset their their hours to process the payroll because i just paid them the same amount each time i still might need the time sheet even if they weren't employees at all and we have them as contractors which you have to be careful of to see if they could qualify as contractors but even if they did they qualify as contractors we still might want to enter their time why because we want to use it to bill the clients if you've ever seen that the law there's a movie about the law movie it's kind of old now it was called devil's advocate where the where the the star was working for kind of a these crooked uh had a crooked employee or clients and whatnot but the firm kept on telling them i don't care if you're even just thinking about the client make sure that you bill it write it down bill it we need to send out the bill for it and so you could do that internally within quickbooks by entering the time into the system here or possibly you can imagine some other system where you have an external software or you could just do it in in word or excel and then on a weekly basis or monthly basis provide that information to the partner who's actually going to send out the bill right because the partners don't actually do any work right they're the money makers they go out and wine and dime you know and then and then bring in the clients and then make all the staff do the work right then they bill and they bill for it right that's how the system works so that's going to be that's going to be what we will do here let's go back on over and so we're going to go to the first tab now you'll recall that the payroll tab is over here we touched on this in a prior presentation if you have payroll then then you have your employees in this section if you go into a particular employee then you could see you have the time tracking and the pay and tax docs and you could send invitations here however you you might not be in a situation where you're processing the payroll within QuickBooks maybe you have someone else doing the payroll or maybe these people are set up basically as contractors or something and you still want to basically track their time note that we have here the payroll tab and the time tab if you go to the time tab it manages basically the time being spent usually when you're thinking about basically employees right so this will be tracking basically time however if that were the case you might be saying well why wouldn't it be under the payroll tab then it's not under the payroll tab because you could imagine using this system even for people that aren't employees even if you're not if you don't have payroll set up within QuickBooks possibly you have payroll set up with an external user you still might want to track the time because because then you might that might help them to process payroll if you have like an adp or a paychecks but it also will allow you to bill for the time if you're using this kind of job cost system if you have contractors you still might track the time yourself as the owner of a sole proprietor you would not be an employee then you wouldn't be withholding or issuing yourself a w2 but you might still want to track your time because of course you want to use it to bill the clients for if you're in a job cost type of system so I think that all of QuickBooks if you go to unless you're in the most basic level of QuickBooks I think they're providing this time tab to everyone even if you don't have employees and even if you're in a fairly basic level of the QuickBooks so this is the newest latest and greatest way to be using the time if you're in a QuickBooks earlier than that you might still have access to the old system which is under the plus button here and you have the single time entry and the weekly timesheet so this was the weekly timesheet we used to basically use here and it's got a similar kind of system or worksheet but now usually I think they're trying to get everybody to basically move into this time entry over here and then we can go into our time entries and we can enter our time here before I do that by the way if you go back to the to the overview if you wanted to add employees then you can add them here and you can send out you can send this out to them to hopefully allow them possibly to be entering the time on their end but if they don't do that if they just provide you with weekly time and an Excel worksheet or some other software then you can do it that way and just manually populate it by going to the time entries as well so let's go over here and we're going to basically enter another time entry this was for last month so I'm going to add a time on the right and I like to do it on a weekly time entry you can imagine doing it weekly but you could also have the clock running your your actual time or add a single entry so let's go to the weekly time entry and I'm going to say that this is going to be for February so let's see if I can go to the last period in February that's fully in February so let's go from the 18th to the 24th the whole week is in February I'm going to switch the user and I'm going to say it's going to be for Adam Hamilton so now I have it for Adam Hamilton and then so here is our entry so we have the customer we've got the day of the week so let's add a customer and this first one I'm just going to make up a customer this time so we're going to say let's say now won't let me add a customer within this sheet which is which might be a good internal control if you have other people entering time so they don't like mess up your customer list but so that means let's open up a new tab I'm going to right click on this tab duplicate it I'm going to pull it to the left and let's go down into the sales tab and into the customers and then I'm going to add a new customer very generic customer I'm going to add and we're just going to call customer I'm just going to put it in the required field customer one I know it's quite generic and so that's it I'm just going to add that we would probably want more contact information if these are going to be repeat customers but I'm just going to use that for our time entry and let's see if I can populate there it pops in here customer number one and we're going to say that he worked on let's say Monday for two hours and then we're going to say on Wednesday for two hours and then we're going to say that it will be billable so service item this is going to be the item notice I have here Adam Hamilton time but what I'd like to do is say that this is going to be his guitar time that I'm going to do for guitar lessons so this was his generic time they won't let me add another item as in this field so let's go back to the first tab and this kind of makes sense from an internal control standpoint because you don't really want your employees to be adding time or or items as they enter their time so I can go back on over here and say let's go to the sales tab let's go to the products and services and I'm going to add a new let's say service time and it's going to be for Adam Hamilton guitar lessons I may not have spelled that right but that's what we're going with and then that'll be the description and the price let's say is $75 so we charge $75 for Adams guitar lessons service income it's not going to be taxable because it's a service item with regards to sales tax so I'm going to say it's a non-taxable item here and there we have nothing on the purchasing side let's create it and see if that pulls on over to our worksheet so let's select the drop down and it doesn't pull over so I'm going to refresh the screen I might have to enter this again but that's okay so I'm going to hide this and we're going to go into the time entries add time weekly time sheet and let's see if it pulls in down here we're going to say this is going for when they close this out let's change it to switch user Adam Hamilton boom and the date is going to be February 18 to 24 and then the customer is going to be customer number one all right now I have this populated down below and billable I'm going to say uh yes and then I'm going to say that it's going to be amel amel Adam Hamilton guitar lessons okay then he worked on two hours on Monday and then Wednesday two hours okay that's good now note that these options the service item being charged and whether it be billable or not used to be columns so that we can assign one service item and whether it be billable or not to these selections for an entire row so that would mean that if we wanted a different service item even for the same customer we would have to go then to another row now at first look it looks like this is actually even more restrictive because you might think that this would be applied to all the time entered on the entire worksheet which would mean that we can only make all of it either billable or non billable and only assign one item to everything on the worksheet but that's not actually how it's set up if you go into each of these items you can change this service item and whether it be billable or not for each of the individual time entries so be careful with that that's actually more versatile however it can be a little bit confusing because you can't really see it in the middle of the timesheet you have to actually click on the time and look at it down here when we finish doing the time entries and then save it then we will be able to go back into the time and see them as individual entries which is actually a little bit more detailed and we'll be able to see if the billable items and the proper service items have been applied out whatever adam hamilton works on we're going to charge for his particular rate whatever whether he did bookkeeping or taxes and in that way you can you can plight out to the whole sheet in our case he's just doing guitar lessons so that doesn't not become a problem now what another thing we keep in mind is that this one of course is going for customer number one so even if you worked on some of these other days i can't put it on the same row because because that would be going to customer number one right so that so i have to put customer number two if there's another customer on a different row and i'm going to have to add another i think i already have a customer two let's say go in here and we have a customer number two so let's just use that one and if you don't have it you can add customer number two over here in the customer's area and then populate it and then we're going to say that he worked on customer number two on Tuesday and Thursday okay so that should be the billable items i'm just going to say guitar lessons from Adam as the note and that should pull in so that we can then use this information to populate it into an invoice which will do in a future presentation so is that all i need i think that's all i need let's go ahead and say for 75 let's save it it and then it's been saved close and i'm going to go okay so let's go and close this out i think it's been saved and now i'm going to set a custom range here because i'm working in the future so i'm going from january to february and so here's the information for adam if i go into adam's information it shows it one by one so here we have the days each of the days so here's february and it's been unapproved unapproved unapproved unapproved for those four so that looks good and then these two down here were for last month and those have already been approved so they're already good to go okay so if i go into one of these i can edit it and there's the in this one entry and i can go into the the manual time card and here's the actual time card entry so i'm going to close this back out i'm going to go back to the timesheet here and let's see if we can just simply approve it and so so uh you will be approving and locking time from one one uh 24 to 229 uh for this team member so i'm going to say okay let's let's do it that's fine let's go ahead and save it and then if i go into my sales tab and i go into my all sales item we should have unbillable items for time that has been entered that hasn't been billed yet so there we have it for customer number one and customer number two and then if i go into the customers over here we should also be able to sort by unbilled time so there it is for customer one customer two and they have those two unbilled times if i go into customer number one we've got these time charges that we can use to convert to an invoice which is nice let's do a similar process for Erica our other employee so i don't have a billable rate yet so the first thing to do is i'm going to say okay Erica set up she's going to do guitar lessons so i'm going to go okay let's go into my sales tab and let's set a rate up for her guitar lessons and the products and services and i'm going to call it drop down service item and i'm going to call it Erica guitar lessons and so it's going to be a service item and apparently she's more in demand so we're going to charge lessons lessons i'll teach you a lesson well that's great that's what i'm here for is to learn that's good because i'm about to teach you a lesson why are you saying it like that i i'm paying you to teach me a less that's good because i'm that's what i do i'm going to teach you a lesson okay so any case so we're going to save that oh wait we don't want any sales tax let's get rid of the sales tax and then save it and we're going to go okay 115 let's save that and that looks good and then i'm going to make two more customers generic customer three and four as you might guess let's go to our customer tab and add two more customers so we've got customer three we're going to say and then we're going to say save and then a new one new one and we're going to say uh what that's not right spot let's say a new one and customer four let's save that and then we're going to go back into our our billable or time entries let's go into our time entries and so now i'm going to add a new time entry weekly and this is going to be for switch user Erica Erica and so we're going to say that she worked on our customer three or had go guitar lessons and once again she worked on monday and wednesday two hours we're going to say two hour guitar lessons and then also she worked for customer number four guitar lessons on tuesday and thursday and we're going to say that they are billable yes and we're going to say that the billable rate is Erica guitar lessons and we'll just call it Erica guitar lessons in the note so that's her time eight hours we're charging 115 for her rate so i'm going to save that and there we have change saved changes saved okay close that i think we're good there's Erica's time popping in there if i go into that we see it one by one uh there and that looks good and so then if i edit it there's our entry here and then if i go into the time entry we can see our time entry so notice on the first one it says it's billable and then on the second oh i i can make it billable per line so here we go so i'm going to say this is going to be Erica guitar lessons okay i have to make each one of them i see how it's working Erica guitar lessons is billable and then here we're going to say Erica guitar lessons is billable and then this one is going to be Erica guitar lessons is billable okay so i can actually change it per line item so i misspoke myself before when i said that i still think it's a little bit cleaner the way it was before where you can basically put it for an entire line but here you can basically change it per i'm going to say this is billable i can change it per entry with the lesson with this item down here although that's a little bit confusing because you can't see it easily in the timesheet so why is it and then it's got this little click mark here so let's go ahead and save that let's see if i got it now so Erica guitar lessons is it billable yes and then Erica guitar lessons billable yes Erica guitar lessons billable yes let's put this in the notes on all of them too there's the note there's the note there's the note and then let's save it again and then it's saved so i'm going to close this back out so now we've turned them all on to be billable so that looks correct now so let's go ahead and save that so approve time okay lock time through through you will be approving locking for this member approve time and if i go back so there is that if i go back to my time entry here and i look at Adam just to view the time entry this timesheet has been approved and cannot be edited a manager must unapproved the day or week the timesheet falls in so we'd have to unapprove it to go back in it if i go into the manual time entry which we should be able to do as the manager but here when i when i selected this information it applied to all of them basically by default so i think that one is correct let's close this out and let's now check it out if i go into the sales tab on the left and we go in once again to the sales information unbilled income now we've got these unbilled time that we're going to be entering from our staff from our employees and then if i go to the customers we can go back into the unbilled area and once again now we've got all these customers that we can build out this information for for example customer number three where we have these billable items so if you needed to remove that time as a supervisor or whatever then you'd have to unapprove it right so you'd have to go back in here as as the manager and unimprove the time and then change it in the time entry so you can unapprove and then make changes to it if you needed to adjust it after that point after you've already approved it all right so no changes have been made to the income statement and the balance sheet the financial reports as of yet because all we've done is enter the time we haven't charged for the time at this point in time and remember we're not really entering this time information to process the payroll we're entering the information so that we can then create invoices from it and that's what we'll do in a future presentation also remembering that if i build for myself then i i might set myself up basically as kind of an employee at least for the purposes of processing the billing right or possibly have contractors might not necessarily be employees you might not necessarily have your payroll set up in order to still use this time entry system for a job cost kind of system because you might be doing payroll outside of the outside of quickbooks or you might not be doing the payroll in the same way possibly having contractors or partners or something like that equity shares within the organization that still needs to be built out for


Ford is unveiling a new hybrid police car. This thing is a beast. If you're speeding down the highway, you don't want this thing chasing after you. I'm here now with Ford's president of the Americas, Joe Hinrichs and Joe. This hybrid police car can save police departments almost $4,000 a year in fuel costs. Which is a big deal because a lot of city governments are under pressure to reduce costs for taxpayers and also be able to offer more services. So not only the fuel economy savings, but less time at the pump, which is actually filling up, which is police department downtime, and actually better emissions for the environment as well. And Joe, this car has what's called pursuit mode. That's right. You know, the police departments in Michigan and L.A., they do a great job of validating the performance of police vehicles for the rest of the departments around the country. Pursuit-rated means the vehicle can do lots of different things that police departments need. For example, it can high-speed chase and different speed levels. It can go over curves. It can go through intersections with water, all of that like that. And in the pursuit mode, once you've been on the throttle for five seconds, the vehicle gives you all the power it has, both from the battery and the engine, to be able to maximize speed and performance, to be able to get the bad guy. And get to that 100 miles per hour speed. 100 plus, because you need to sometimes. Probably not in Manhattan, but yeah, sometimes you do. And what has the response been like from police departments, right? They've been asking for something like this for years. They have because the city's been pressuring them about emissions, you know, helping the environment, but also better fuel economy savings.  Isle time is a big deal. The police vehicles need to stay on because all electrical equipment is running. The battery can run a lot of that and actually reduce costs. All right, and tell us some of the kind of quirky, interesting things that police departments want in a car. Yeah, well, you know, a lot of people, they don't want to be in a vehicle, a police vehicle, but they want to learn about them. So, you know, no one ever wants to sit in one, right? I've never been in one. But actually, yeah, good, exactly. But I can tell you that there are neat things. For example, skid plates underneath the protective vehicle when it's bouncing and driving or going over a curve. But one of the more interesting things is actually stab plates. There's actually plates in the seats so the people in the back seat can't stab through and get a police officer. Makes sense, right? Makes sense. And the gas mileage on this thing is incredible. 38 miles per gallon, double. It's not hybrid counterpart. That's right. Again, because you're using the regeneration of the brakes, the heat that comes from there to charge the batteries. So all that stopping and starting is actually giving yourself power back. All right. We'll be right back.


Almost time for the bell, how many options will you sell? Fire up your platform, get ready to enter But first, let's get the mindset centered Let's go, trade it, have success, find what works for you And forget the rest, stats and probabilities is what we're about Time to dismiss greed and doubt, focus on the process Not the money and the profits will flow like honey Power our lives, let's start the show Come on trade hackers, get ready to go Zero day options, time to make bank Get locked and loaded, then be ready to play Hey everyone, welcome to Power Hour Live October 17th On a Tuesday, hope everybody's doing well I was doing well Had a little small winner On the AM ratio, quick, quick exit Some JSP's that worked out And then came along this down move And I started doing some JSP's, got hit Stopped out on a couple of tranches And I also did a PM Iron Condor where they got stopped out Fairly quickly as well on this little flush So took it away For Power Hour Looking at a potentially a five wide here Now we are hovering around a half percent move Higher from the open So I'll give it a few minutes But if it's over half percent, I'll do my two to one ratio If not, I'll do one to one And look like it was just going to keep marching, marching, marching And then got up to a high of 43.93.57 And said, enough is enough Getting close to straddle territory here, my friends Which I don't like to see Vicks been on a wild ride today Obviously, S&P's on a wild ride Most likely Vicks is as well Had a big contraction Big spike And kind of settling in right around 18 currently Price kind of pushed above this consolidation That we've seen over the last week or so And reverted back down into the cluster Got a couple minutes But it looks like it's going to be a one to one At this very moment it actually looks like a straddle But give it a minute, it might be five wide It's on where price moves Put on a one to DTE earlier It's up a few hundred already I'll get in Tron 21 I'll kind of go over some of the other positions I did today Alright, looks like it's going to be the 65, 65 wide Red bar coming into entry Looks like it's going to be the 60, 55 60, 55 Trying to get filled at 890 Filled at 890 on the 60, 55 You could actually even go 10 wide right now But I'm in Alright, let's settle down here for power hour Mister Getting a little jumpy A little jumpy for my liking Alright, so I mentioned I got in a one, two, B&B Double calendar earlier Got out of a time fly Hit our profit target in that We've got this other time fly with the double The double adjustment Still down a little bit Let me take another day or two before we get out of that one But I did add a new time fly Did this one a little bit further out, a little bit wider That's in the NOV 10 cycle Just put that one on not too long ago So we've got three time flies on The other one is in the NOV 3 cycle That one's pretty well centered What else did I do today? This is one we put on yesterday But our TGIF is up about 1100, something like that So this morning I had the AM ratio It was a tiny winner DKS was a winner JSP's were winners And then this afternoon JSP's losers And PM Iron Condor loser So I need power hour to take it home DKMRO in the 6050s Kelvin's 10 wide It looked like it popped up to be closer to 4 Right after I entered Fresh 5 wide, 3-2 ratio Lando 5 wide I got in at 890 Tronch 1, I'm looking for 435 To reduce my stop I'm in the 6055s 1-1, yep It was close to 2-1 But then it came down before entry Didn't really feel great about the 2-1 today Doesn't really feel like a Short squeeze after that big move down So I'm good with 1-1 For those who didn't see in the Trader Chat Or there are some comments here in this channel as well The Pertoss users that Export issue is now Back in action Thank goodness These swings are all over the place Big gap down after retail sales Looked like it was trying to shake it off And march higher and then just Completely reversed I'm not sure if one of the Bedheads had something to do with it But Here we are Whippin' around Ooh, the beige book So tomorrow is the 18th So I've got Waller At 11am Williams at 11.30 Bowman at 12 Beige Book at 1 And then during power hour we've got Harker Thursday we've got unemployment pre-market And then Powell speaking at 11am on Thursday Powell is due to speak at the Economic Club of New York Luncheon Some pretty quick decay coming in here on Trunch 1 Elliot, you're taking the day off tomorrow? Oh, that's a question I'll still be trading power hour for sure Yeah, I mean nothing changes for me on Wednesday Thursday morning I would assume the premiums will be held up Prior to Powell speaking but And it's a Thursday So I'm not sure what it'll be on Thursday yet On the 5-7 I was looking at it and it just It didn't look like I mean it looked like if the market went down It would It would be losing money I'm not sure what it would look like now with Ball spiking it probably would be fine But You know, it's kind of creeping up towards the Upper Call strike With profit Didn't appear that it was going to get much better By holding it so I just closed it I'm on the 60-55 I got in at 890 And it's already down to 750 About 7 minutes until Trunch 2 Now Tivus, I haven't gotten that granular on it But I mean I was Testing halves Like $3 or $3.50 I know It's been a while but I haven't looked that specific Getting a little bounce here We blew through the upside expected move To start the day And then we blew through it again to the downside S&P currently down 7 On the day, Nasdaq down 80 Russell up 21 Russell's up 1.25% Still having a little Little day Ten-year yield back above 4.8 Had a recent high of 4.88 Got as high as 4.856 Today SPX still pushing I'll buy some longs for Trunch 2 It will be Probably 5 Maybe 10 wide for Trunch 2 Trunch 1 back to pretty close To the price I got in it Trunch 2 looking like the Maybe the 70-60s I'll give it a bit longer Looks like the 70-60s 10 wide Trunch 2 10 wide Filled at 4.40 Trunch 3 premiums Filled at 4.40 So I'm going to need 265 On Trunch 2 to reduce my stop Year to date Russell is now up 1% Dow is up 2.5% Year to date Nasdaq up 39 S&P up 14 The little push has Paused for now Trunch 1 trading at 8.20 1.2 DTE's rocking now 500 bucks Trunch 1 trading at 9.80 Trading at about 10.30 SPX back to pushing Trunch 1 down to 7 I'm looking for 5.35 To reduce my stop I need to get under 60 Around 43.60 For that to happen anytime soon 5 minutes until Trunch 3 Trying to push again Buy some longs for Trunch 3 Matt from Option Omega Are you on here? I see a Matthew, but I'm not sure if that's Matt or not Stuck in the Casey airport right now, Wuga? Oh, got to trade scout, thanks Alright, couple minutes Till we enter Trunch 3 here I think there's a pig witch There's a little area Called the river market Which is basically a Model of an area in Kansas City Downtown And there's all the Same shops And restaurants in The little airport village Called the river market And I believe Pig Witch is there, that's a good one I don't know, they may have Like a Jackstack barbecue as well I can't remember Exactly which ones are in there Or maybe an Arthur Bryant's They're all, I like all of them Which ones have you seen? Alright, so for Trunch 2 Looking at the 70's And 60's, it looks like 70's and 60's Trunch 3, 10 wide Gonna get filled at 3 Of 5 Filled at 310 on Trunch 3 70 calls, 60 puts Trunch 3, yeah Did I say Did I say something else? Yeah, Karine, the email Or more just notifications That a trade has been posted That's how we had to do it With the whole discord Set up Unfortunately You know, back in the day We used to actually Show the actual trade alert on the email But just can't do that with discord Alright, so 4360 Is still the sweet spot Somewhere 4360 or slightly higher Would be just fine Trunch 2, is it 290, I need 265 To reduce my stop Need a little pullback Trunch 2 is trading at 285 I need 265 There's 275 280 265, alright Reducing my stop on Trunch 2 About a 5 point move lower To reduce Trunch 1 So Trunch 2 and 3 Are both at the 60s and 70s For me, so that's trading At about 250 My Trunch 1 is 6055 And it keeps on popping its head up There and then getting pushed down Let's hope it keeps getting Pushed down and just keeps Just kind of grinding higher I like the visual Tomorrow, so my stop On Trunch 2 is at 465 And I got in at 440, so it'd be a Already get stopped out of that one Just for a small loss But I'd prefer a win If we can get a little pullback Trunch 1 trading right around where I entered Same price There you go, come on down little buddy Come on down The water is warm A little bit lower, just a few points lower It feels really good down here Trunch 1 back down below 7 Dataless I've never Set the stop loss On the bid Frankly, I never used stop losses at all Until I started trading zero DTE So yeah, I don't know I don't know the answer to that I don't know if anybody else has experience Setting their stop loss On the bid versus mark Market on close 46 million sell side Yep, nothing burger Dead centered for Trunch 2 and 3 Trunch 1 is a little down move still To reduce stop Trunch 1 down to 6 I need 535 Down to 590 585 It's not over yet Dark Avenger It's not over yet Trunch 1 is still trading a little over 6 bucks 570 And we're bouncing back up Didn't quite get low enough For Trunch 1 Yet Yet that is I think that's what that means Forces with me Alright, I'll take that Is that the force from full grown adult Yoda or baby Yoda Still trading a little over 6 Just need a little lower Trunch 2 and 3 trading under 2 bucks 565 555 540 I'm looking for 535 I almost got there Teasing me You saw it print? I did not see it print I trust you more than Chris, Dick K But I have to see with my own eyes It's going to come back down and get me I'm not worried about it 585 570 560 545 530 there it is Yeah, you know I could set an alert But that would take the fun out of it I'd be too easy I'd be too smart Then I can't make fun of Chris about lying to me Alright Pretty much in the sweet spot here So for Trunch 2 and 3 I'm in the 60s and 70s Depending on where we are I could take those to the bell Bein' 10 wide Trunch 1 is 5 wide We'll give it We'll give it closer to the bell Before I call any shots So I got my stop down to 835 On my Trunch 1 And I had gotten in at 890 so that one Was in pretty good shape regardless But I'd prefer a full Full boat, I want the full Monty Yep, still 46 million To the sell side, nothing Now we're getting a little red bar come in Top of the mountain would I adjust Would I lower Trunch 3 Stop if it's the same as Trunch 2 No I treat them separate There could still be a chance That you'd get stopped out of one and not the other So I keep them separate Trunch 2 and 3 down to a buck 70 Trunch 2 and 3 down to a buck 45 Yeah, that's correct Quanteo, that's how I do it 70s are trading at 25 cents Dick K, 30 cents Alright, a little over 11 minutes To the bell At the final market on close and balanced In one minute, hopefully it doesn't do Anything stupid, Trunch 2 And 3 trading at a buck 40 Trunch 1 trading at 530 1.1 billion to the sell side That's a little jump That just means the net outflows Of the big boys, of the orders that they Have to put on at the Market order on the close To the sell side And the market is bouncing Trunch 2 and 3 down to under a buck Trunch 1, my stops at 835 Spreads trading at 6 Nice trader Bianca Alright, getting a little bounce now Trunch 1 trading up to 7 7 minutes to go Trunch 2 and 3 trading at 70 cents Trunch 1 is trading at 8 bucks close to my stop Should be getting stopped out Stopped out at 840 on Trunch 1 Stop for a small profit Got into 890, stopped at 840 So 50 cents, so 500 bucks Trunch 1 For Trunch 2 and 3 Close to that upper strike We're pushing now 5 minutes to go Gonna settle in a little bit Need below 70 Below 70 please I'm gonna get out of Trunch 3 Jumped on me Had a Trunch 3 at 230 Still in Trunch 2 Wow, B&B is up over 1300 bucks, nice Built at 1120 Close to half my B&B Alright, gonna get below 70 Got 2 minutes Just a little below 70 please Wrong way, you're going the wrong way I need you down Couple points One minute One minute, one point lower Little red bar Wrong way, trying to get out Ugh Not a good close 73 Oh, looks like it Maybe slightly green on Trunch 2 Maybe scratch So call the scratch on Trunch 2 Trunch 1 made 500 bucks Trunch 3 In at 310 Out at 230 So I made 80 cents Times 14 Quick math equals 1100 bucks About 1600 Minus the long So call it 1200, 1300 maybe Still green Still a green one At least a winner, exactly Not as good as we hoped But can't Can't get max profit on all of them Just can't happen Alright my friends, we'll be back tomorrow For power hour also Let's see, tomorrow's the 18th So we'll be streaming live Tomorrow, Wednesday and Thursday in the morning So we'll look forward To seeing you then Everybody have a good night Take care