Some of the finest watermelons in the world are Arkansas Grown. Really no debate. But if you ask where they grow the best watermelons in Arkansas, you might get an argument. One that started a long time ago. Probably about the 40s or 50s. For sure, that's when kind of the watermelons really started being grown here in this area. We've been doing it for a long time. I know Cave City's got their claim to fame, but we got pretty sweet melons down in South Arkansas. Mayor Don Still of Hope and Jonas Anderson of Cave City need little prodding to talk about their town's signature crop or the annual festivals that turned those hometowns into melon mechas. The taste is just what gets it. You can taste the whole watermelon. I have had people come to the watermelon festival and talk about the taste of a whole watermelon. They started the watermelon festival about 1979, 1980. And after that, as I say, the rest is history.  In the festival department, Hope does have some history on its side. They started in the 20s. And while it's not the spinning image of what it was back then, they still maintain a well-earned reputation for scale-busting melons. No exaggeration needed. This is actually the size of the watermelon. The artist measured it and took pictures of it. So this is the actual size of the melon that Mr. Bright grew. And we still have the competition. It goes on every year. So there are people out there growing melons right now trying to break the record. Himstead County farmers like Tommy Warren say none of those record red melons would have been possible without the Red River. The river is about 400 yards away from where we're standing right now. And really, the river's the reason that we can grow watermelon here. This sandy loam dirt on the Red River is what makes the watermelon growing work in this part of the world. Oh, we've been growing them for probably 20 years here. And I've had as many as 60 acres and as little as five acres, but I've found that about 12 to 15 acres is just right. Raccoon got to me first. Let's see what we have here. If the weather, the river, or the raccoons don't do too much damage, Warren is left with something pretty close to perfect. But you've got to have some yellow meats and you've got to have some orange meat because you've always got folks that come through and that's the only kind of watermelon they want. Well, I'm going to tell you, you can go to the watermelon stands and you can get watermelons from all over the country. Watermelons that are grown in the Red River Valley have a sweeter flavor than any place else around the country that I've found. But around the Hope area, people come and they'll stop when they go down the interstate because they say the Hope watermelons are the sweetest watermelons around. Meanwhile, 218 miles to the northwest, Cave City has always valued taste over tonnage, carving out a sweet little niche. Just like Hope, though, they rely on the same secret ingredient. We just happen to have this really sandy soil right here and it's just a small little stretch that just happens to come right here in Cave City and that's what really makes the watermelons so sweet. In season, you'll find watermelon stands dotting the main drag through town. They sell them seemingly by the truckload. Among them, the Patterson Brothers. There's four brothers, Jarrett Soldist, Jacob, Joseph and then me. I'm the youngest, coming up on the end. And then my dad, he's the one that started it, just kind of a hobby and it turned into what we got now. And I think I'll kind of extinguish one of the first myths about watermelons. The first thing I would look for is a green stem. A lot of people will come here and ask for a dark brown or a dried stem and all that means is how long the watermelons been picked. It's just like any other fresh fruit. If you want a fresh watermelon, I'd say the first thing I'd look for is a green stem. These guys know watermelons inside and out. Anything within this kind of the seed range here is what we would consider the heart of the watermelon. That's where the sweetest bites of it will be. This is kind of more tart. Anything around that rind will be a little more tart than it is just super sweet. But you know, a lot of people like to salt the edges of it up and they kind of like the different flavor profile that the watermelon gives around the rind too. Growers here know they've got something special. In fact, if it doesn't say Cave City on the sticker, keep your money in your pocket. So these stickers are actually kept in the bank vault at the Bank of Cave City and the only way to get one of these is to be a registered grower with the watermelon growing committee. Being able to showcase something in a small town like this it just kind of puts you on the map. Not many people has got anything like this and known for world's sweetest watermelon, so it's kind of cool. I think, you know, people from Cave City, they've been doing it for long enough that they've kind of built a good name and reputation for it. And anybody who grows a watermelon puts one of these stickers on it, I think, kind of embodies that. And they use this sticker as a source of pride. Pride is a big reason why growers in Cave City and Hope continue to turn out world-class watermelons, and it's why their two mayors can brag a little bit, even to each other. Well, Mr. Anderson, I hope y'all have a really great festival up at Cave City, but if you really want the really sweet watermelons, come on down to South Arkansas because we've got the ones, we've been doing it since 1920, so here we go. Come on down to Hope and enjoy a watermelon. Appreciate the shout-out. And I noticed maybe one little issue there with your comments. I know you said if you want to get the sweetest watermelons, come down to Hope. I'm not really sure about that. I mean, we kind of have the world's sweetest watermelons, I mean, right there. So, yeah, I think if you want to come and get the sweetest watermelons, you probably have to come to Cave City, just no way around it. But I do hope people will come to Hope Arkansaw, too, because you guys definitely have some good watermelons and you've got a really fun festival from what I can tell. I'd love to get down there myself sometimes, so maybe you and I can work together on that, get people to come to Cave City, enjoy our festival, enjoy our watermelons, and then we'll ship them down your way and they can enjoy your watermelons in your festival. It's a friendly rivalry and a lively debate, but for anyone who truly appreciates watermelon, it's clear both towns have earned their stripes.


What is going on everybody it stops here welcome back to another video so in today's video guys We have to talk about the mayhem that went down in the stock market We're going to be breaking down the S&P the Dow Jones the Nasdaq We're going to be talking about some news regarding what caused this drop today in the markets And we're also going to be talking about what I personally did today on the 23rd of August in 2019 in terms of my trades so guys if you enjoy this video Feel free to go down below and hit that like button I really do appreciate it and really supports me and supports the channel in general and if you want to be further connected With the Strive smart community the discord group chat and the Facebook group both of those are linked down below in the description box So guys let's get right into it without further ado starting off here with the S&P 500 It dropped 75 points. It was down 2.59% Absolutely abysmal day for the S&P 500 the Nasdaq if we can get it here guys was down 200 points down 2.64% Absolutely abysmal day for the Nasdaq the Dow Jones industrial average down 600 points 623 to be exact down 2.37% and if you guys watched my video this morning, I pretty much called this out, right? We saw Jerome Powell or we were expecting Jerome Powell To have a meeting at 10 a.m. Which he did Eastern Standard Time and we were looking to see how he was going to Kind of approach the topic of interest rate cuts was he going to flat out be like we're cutting interest rates How is he going to approach that right and the market? Obviously didn't take it too well right on top of that the tariffs new tariffs were slapped on 75 billion dollars worth of US goods from China those going to effect I believe In September through December in increments and that also had a weight down on the market today, right? And if we go back to the S&P 500, you know, we can see exactly when the markets dropped, right? We actually gapped down this morning We started to climb up a bit the meeting started around here at 10 a.m. Eastern Standard and we all know at this point Trump is pushing for Aggressive rate cuts right now right pushing for aggressive rate cuts and he's kind of going head-to-head With Jerome Powell and since Jerome Powell didn't really show the demeanor of Aggressive rate cuts the market just like that guys in the snap of the finger it tanked right it Absolutely tanked we can see here at 11 o'clock a.m. Eastern Standard time Right since we didn't get that, you know what the demeanor we wanted from Powell in terms of the rate cuts You know the aggressive rate cuts as Trump wants, you know the oh my god the market guys from 29 25 down to 28 76 you realize that's in 10 minutes the S&P 500 dropped 50 points guys that's straight up panic that just goes to show you how heavily right now this market the entire stock market is Relying on these rate cuts the market is relying on these rate cuts like the rate cuts are oxygen for the market Right that's pretty much an analogy that I like using for this and from there We were just down trending for the rest of the day We got some news and I'll show you guys an article here about Trump wanting You know businesses in the u.s. They're doing a lot of business in China to move their facilities from China Obviously, that's a lot harder to do then Then then then just simply saying it right But we'll see an article in a couple of minutes here that talks about that and on the S&P 500 If we just drag out a bit here to the four-hour chart We were talking in the discord chat today that the the support that we're looking at right now is 28 50 2850 dollars we can clearly see today We got rejected at that 50 S&A under that 50 S&A resistance here on the four-hour chart And we're kind of trading horizontally right now. We can see the triple top here I guess you can say that's a quadruple top almost right We got the rejection on the 8th of August 13th of August the 19th of August and then finally today on the 23rd of August and we dumped and we can see It's also a triple bottom here, right? We hit a support on the 5th and 6th of August We had another support on the 15th of August and now it seems like we are Hovering around there and I'm interested in seeing you know this upcoming week Are we going to maybe see a bit of a you know a bit of a consolidation here? Or is this sell-off going to continue me personally guys? I think we're going to continue to sell off to be completely honest with you guys this news the tariffs the You know the interest rates right all this different stuff That's going on right now Trump saying for all businesses in China to leave China businesses that do a lot of business They're like Apple being one of them You know I think this is still fresh right now, and I think this can heavily affect the markets You know heading into this upcoming week honestly maybe for the rest of the week We might be seeing a sell-off similar to this that spanned across I believe like three four or five days or something like that now Let's say we do get that drop below 2850 I think it's very possible that we get down to 2800 to about 2810 which is the next support that I am seeing here and from there guys You know if we dump down below that and into the 2700s You can see there's a window of about a two three percent drop up to or rather down to the next support Which is at about 2730 So at this point if we break 2850 guys which honestly again like I just said I think we're going to this upcoming week There's going to be a lot further downside for the S&P 500 and especially as the holiday season starts to roll around guys You have to realize when these tariffs actually go into effect And if they do go into effect because just because they're saying that there's tariffs now They can still take those tariffs back But let's say if they actually go into effect. This is going to have a heavy heavy impact on the markets You have to realize take a look at how hard the market is dropping Just on the news of the tariffs coming out in a couple of months once they actually go into effect That's going to be insane in the markets in my personal opinion And it's going to cause a lot a lot of volatility You know like we did talk about in this morning's video So that's kind of the breakdown right now on the S&P 500 if we take a look at the Dow in the Nasdaq It's very similar right where we got rejected by the 50 S&P here on the Dow under this green line Right that was kind of a triple top as well or quadruple top However, you do end up seeing it and now it seems like we are holding that support at $25,500 right and if we do end up breaking that which again I think there's a high probability that we do we may be going down all the way to 24,700 Dollars and guys that is a gap down of about 3% from this support You know at around 25 500 which that's very possible guys Especially with the volatility in these markets and especially with how quick these markets do drop on any any You know a negative piece of news that we do get right you guys clearly see the proof is in the pudding We saw the S&P drop 50 points in 10 minutes like that. That's just unbelievable, right? So this is just a very sensitive market again like I did mention And you know in this morning's video and for those of you guys that watch this morning's video and it helped you Let me know down below in the comment section I would love to know and if you if you guys do like the morning videos I'll consider doing a couple more throughout the week Just let me know if there is demand for those morning videos Especially you know in this rocky market that we're in I'm open to making them if you guys want them So let me know down below, but on the Nasdaq here very similar We got rejected by the 180 SMA We broke the 50 SMA support and now we're holding 74 60 7500 ish as a support which we were at a couple of weeks ago Really about nine days ago on the 14th of August and back on the 6th of August as well So if we break this level we can easily gap down to the next support here, which is at about 7300 That's about a 1.7 to 2% drop from where we are now and take a look guys if we break 7300 That is where the markets in terms of actually in specific the Nasdaq here It's going to get quite ugly right because 7300 the gap down to 70 or rather 7000 which is one of the you know more prominent support levels coming up That's going to be a gap down of around a 4.5 to 5% Which is a pretty pretty big move and especially if Apple which obviously I'm sure you guys know at this point is One of the biggest companies in the Nasdaq it has a huge weight on the Nasdaq and honestly on the overall markets in general You know if Apple takes a huge hit You know on this news I don't know if it will to be completely honest with you guys This is pure speculation right here, but if it takes a massive hit that could drag down the Nasdaq pretty heavily Especially some of these other you know tech companies as well if they do end up getting hit hard from this You know from from the turmoil from the volatility and from everything going on in the markets right now So that's pretty much it in terms of the overall markets guys Let me pull up this article very quickly to show you guys Exactly what ended up happening and something pretty funny that Trump did tweet He said that Jerome Powell is on the president of China's side for not cutting the interest rates You know Trump does say some crazy things on Twitter. I'm sure we can all agree on that, but you can see here You know stock slumped on Friday as US China trade dispute intensified. We all know that I already mentioned that okay Okay, okay Apple whose growth is tied to China It's growth is tied to the growth in China was off nearly 4% and it was the weakest Dow stock an 11th worth Worst Nasdaq 100 performer Hasbro Alexiom and advanced micro devices where the hardest hit Nasdaq stocks as well Boeing was actually the only or one of the Only actually it was the lone Dow winner of the day that was actually up about like point five percent today or something like that And you guys can see here, you know the Trump order announced on Twitter whose Enforcibility is likely questionable in regards to um, you know China tell or Trump tells the US companies to leave China He said that came after China announced It would raise tariffs on a variety of US products including cars and farm products He suggested that US manufacturers bring jobs back to the United States And this is the funny part here guys take a look the the order also came after Federal Reserve chairman Jerome Powell told a Jackson Hole Conference Friday that the Fed Stood ready to provide stimulus to the economy if needed Trump didn't like the speech because it did not signal an aggressive interest rate cut and he tweeted My question is who is our biggest enemy Jay Powell or chairman see chairman see is Chinese president see Jin ping right and he didn't really say that he's on his side I kind of misinterpreted that but you can see that he's really viewing Jay Powell as an enemy right now just because he's not Doing what Trump wants Trump wants this aggressive aggressive a hundred point basis point rate cut and president or rather Jay Powell is a bit more Conservative right now in terms of those cuts. So I would love to know what you guys Have to think about that right? Let me know down below in the comment section I would love to know what you're just whole opinion on the stock market right now And to talk about what I personally traded today guys if you watched my morning video I called this one out to the T and it was TV IX and I know a bunch of you guys in the discord chat Did very well today, and I'm very happy for you guys. Good job. If you did do well today trading TV IX it did absolutely Phenomenal today it was up three dollars and eighty five cents nearly four dollars up 23.26 percent and we can see the VIX which correlates directly to the TV IX ETF here The VIX was up three point one nine dollars three dollars and nineteen cents Which for those of you guys that don't know when the VIX is going up the markets are going down There's a lot of volatility that is when TV IX is doing exceptionally well, right? And you guys can see on the one day one minute take a look at this, right? TV IX was down trending from about the open of the market all the way up to when you know The speech started at 10 a.m. We start to go down down down down down and then 11 Roughly it roughly at 11 a.m. Take a look at this pop right here. That was literally a 12% pop on TV IX And I was like I mentioned in the video this morning I was waiting until after the speech today guys. I wanted to see the sentiment around the market I wanted to see how stocks and the overall markets were reacting I played it kind of smart today and once I saw the markets take that dump I didn't catch it perfectly at the bottom, right? That's almost impossible a lot of the time sure it does happen You can catch it at the bottom, but once the market started to dump heavily remember that ten minute window I talked about where the S&P dropped 50 points. Well That is when I ended up building a little position and I started to buy in to TV IX I believe it was right up here in the 17s 1710 again, it wasn't at the bottom at 1640. I didn't catch it perfectly on this double bottom breakout That would have been awesome, but I didn't right I ended up catching it at around 17 20 17 25 And honestly guys, this was one of the biggest days that I've had in a while, right? I ended up riding it up and selling off on this pulled back because you have to realize guys when things move this quickly What comes into my head is stocks don't be greedy, right?  You're going to be saying okay I'm going to hold it Maybe it's going to come back up and I can recoup that profit and then I'm going to sell and then guess what Happens guys it goes red and then you're like, oh my goodness now. I'm red I should have took the profit when I had the profit I should have You know just taking the profit right and then you might end up buying more when it's red and then it dumps even more This is just hypothetical, right? And then you end up losing a lot of money and you blow your account and you mess up your emotions And that's all because of being greedy right and since this position flew up so quickly I was up a pretty sizable amount on the position at this point in time You know I ended up just taking the profit I believe it was like a six seven percent profit on this pullback here And I was very very happy with it and I actually ended up getting in again guys believe it or not again on TV I X here on the on this pullback here And we popped up aggressively and I ended up selling off for another little move here I believe it was like a smaller move I think it was like three four percent and I actually posted that profit on my Instagram So if you guys follow me on Instagram at stock surface You'll be able to see the profits that I am making on these you know these little trades that I'm doing on TV I X to kind of hedge against the market right because these I don't swing trade them right I'm hopping in and out whenever I whenever I have a feeling the market is going to dump right when the markets are Going to dump I like trading these to hedge against my position And then buy in long stocks with the profits and really recoup on kind of dividends That's kind of my strategy right? I'm a dividend investor as well as a trader and to be honest with you guys I bought five shares of Johnson and Johnson today because I'm viewing Johnson and Johnson as A stock that is not recession proof No stock is truly recession proof But I think this stock does very very well and it has a track history of doing very well and paying increasing dividends Even through a recession and I'm viewing this more of a safer quote-unquote stock in terms of you know times when the markets are in turmoil So I saw the big dump on J&J today It was down about like three percent at one point and I literally took those profits from TVIX and I ended up buying Five shares of Johnson and Johnson today, right? I ended up buying like I think it was like six hundred or So it was like six hundred thirty dollars of Johnson and Johnson at about like a hundred literally I bought it like five minutes before on the market close no joke, right? So that is what I ended up doing today, right? And that's kind of my strategy I'm taking my profits and I'm funneling them into dividend paying Stocks for the most part of course I'm buying growth stocks as well. I'm a younger guy I'm putting some I'm putting a lot of my money in growth stocks and in companies that I think can do very well over time But I do like buying some large cap blue chip dividend paying companies that I feel a bit safer in Then some of these growth stocks in terms of a time period where there could be a recession coming Which I believe is right now, right? So that's what I ended up doing on today I'm in terms of my trades and buying a bit more stock and Johnson and Johnson I would love to know what you guys ended up doing down below in the comment section So guys that's pretty much it for the video, right? I don't want to make this video too long I want to keep the stocks that I'm personally trading and watching I want to talk about those in Sunday's videos So if you want to see that feel free to go down below and subscribe to the channel and while you're at it Drop a comment and let me know some stocks and ETFs that you guys want me to talk about in the next video So or rather on Sunday's video. So Really guys the gist of it is the markets volatile I expect it to come or continue to be volatile heading into this upcoming week and TV IX SQQQ SPXS all of these ETFs here Jnug as well, you know Gold as well if GDX continues to do well, which it did very well today If this continues to pop Jnug can do very well Exceptionally well this upcoming week as well and that's kind of my Strategy and philosophy heading into this upcoming week not really looking to trade any large cap Tech stocks right now. Maybe if they see a bounce back, I might day trade those but at this point with the volatility I'm seeing a lot more potential in TV IX and UV XY So that's pretty much it if you enjoyed the video guys Feel free to go down below hit that like button. I really do appreciate that it provides Really it tells me that you're enjoying these videos and you want me to continue to make these videos And if you want to see further content for me subscribe to the channel and drop a comment down below Let me know any thoughts that you guys have as well as stocks and ETFs Do you want me to talk about in the next video? So I'll preach. I appreciate you guys watching I'll catch you all in the next video. Peace out


So what do you grab? Hi, I'm Porebillard, the Australian Ambassador to Thailand. I'd like to take a few moments to talk to you a little bit about the Thai-Australia relationship. I've only been in Bangkok for a few weeks, but I'm already feeling very much at home in this beautiful country. And I'm very much enjoying my time. Of course, Australia and Thailand have a very long, very strong relationship. It's a relationship built on very close people-to-people contact. We have nearly one million Australians visiting Thailand every year. We have thousands of Thai students studying in Australia, getting a world-class education, both at university and secondary level. And we have a very extensive research at the postgraduate level between our universities and other institutions. And in 2015, we'll be welcoming Australian students coming to Thailand to study at Thailand universities under the New Colombo Plan, the signature initiative of our Foreign Minister, Julie Bishop, to ensure that a new generation of Australians have greater knowledge of Asia, and including, of course, Thailand. The relationship also reflects a very long connection between our militaries and a very strong association between our law enforcement agencies. And the economic relationship is tremendously important. Thailand is Australia's eighth largest trading partner. We are consistently amongst Thailand's top 10 trading partners. Last year, total trade between the two countries was just under $20 billion. And Thailand is a very significant investor in Australia, creating jobs in Australia, which is very welcome to us. So at this time, I'd like to extend very best wishes to the people of Thailand for a safe, happy and prosperous New Year. And to say how much I and my colleagues at the Embassy look forward to working with you in the coming years to continue to develop the very strong relationship which we already have. Thank you very much. Khopkhun Krub. Merry Christmas and Happy New Year!


Absolutely sick enough for Walsall to possibly be going in behind at halftime. That's route one, and it's up towards Cook. Jake Young. Jake Young goes for goal! And what a goal it was! A breathtaking strike from Jake Young, largely against the run of play, but Bradford have two. They've got space for himself, he has to shoot by the away fans, folds, throws it in, and there's Cook once more, 15 minutes to go. After weathering the tram near Storm, Bradford City are back ahead once again. There's Foul, let's prove Kostner. And Bradford City have lift off, it hasn't taken long, four minutes to be precise, and the hosts already in front, what a hit this is. In the middle of the goal, perhaps questions for the goalkeeper, but it was struck so powerfully. This really would be a shock defeat for Bradford, if they cannot find a leveler. There is still time though, Oliver's in the area, he wants it, it's in towards Oliver, have rescued it! It's the day in Oliver, off the bench, in the 95th minute, and it's his first goal for the club.


Foreign exchange rate risk is the natural consequence of international business activities in the world where movement in the value of relative currencies goes up and down and it is considered as a norm in the international foreign exchange market. Now this risk management is an important part in the international finance. This risk or exposure in the foreign exchange rate can be classified into three types namely short term exposure, long term exposure and translation exposure. First is the short term exposure. In fact, day-to-day exchange rate fluctuations create short term risk for the international corporations. The price variation in different currencies can affect the contractual agreement of the firm to buy and sell goods in a near future at the pre-set prices. Now how this risk emerges? Let take an example to understand. I assume the import of pasta from Italy at the rate of 8.4 euros per case. The spot exchange rate per dollar is equal to 1.5 euro. We need to import 10,000 cases which are expected to arrive in the coming 60 days. The firm will resell this imported pasta in US under the brand name of Impasta at a sale price of 6 dollars per case. This means that the per case dollar cost at the exchange rate of 1.5 dollar is equal to 5.6 dollars. And in this way the pre-tax profit on the sale of 10,000 cases will be equal to 4,000 dollars. And what will happen if the exchange rate in the next 60 days moves upward or forward? The ultimate effect will definitely be on the movement of the profit that will be changed accordingly. Now let take two scenarios in the movement of the exchange rate. In one scenario we have a higher movement whereas where the exchange rate of dollars moves from 1.5 to 1.6 and the other situation is the lower side movement where the exchange rate of dollar moves from 1.5 to 1.4 euro per dollar. So these are the two different high and low spot exchange rates for the dollar. Now the cost per case in terms of dollars will be equal to 5.25 dollars per case in the case of higher movement and 6 dollars per case in the case of low movement in the exchange rate. And if we determine the profit on the sale of 10,000 cases we see that where there is an upward movement of 1.600 per dollar the firm is earning 7500 US dollars. And whereas there is a lower side movement from 1.5 to 1.4 euro per dollar the firm is incurring no profit neither it is suffering any loss. So this is the movement in the exchange rate that turns the profit of a company into no profit situation. There are certain ways that a firm can adopt to reduce this short term exposure. First option is the hedging. Hedging refers to taking a low risk in order to avoid a higher risk. And this is basically the forward exchange agreement. In this example there is an option of 60 days forward rate let us say that is equal to the exchange rate of 1.58 euros per dollar. At this exchange rate the dollar a cost per case would be equal to 5.32 and using this data if the firm sells all 10,000 cases its profit will be equal to 6,800 US dollars. So entering into a forward exchange rate the firm has been able to earn a good amount of profit. The second option is to borrow dollars today convert them into euros then invest these euros for 60 days in order to earn interest based on interest rate parity and then this amount will be basically equal to entering into a foreign exchange contract. The second type of exposure is the long term exposure. This is basically the anticipated changes in the macroeconomic conditions that can affect the foreign operations of a multinational corporation. The changes in exchange rate can be very substantial for example a smaller movement in exchange rate can change the amount of profit by substantially. How we can hedge these long term exposures that is more tough than hedging for the short term risk exposure because there is the problem of non-existence of organized forward markets and also there is a mismatch between the foreign currency denominated assets and liabilities. So then how we can reduce this type of risk exposure first is option is to match up foreign currency inflows with the corresponding outflows second is to borrow in the foreign currency. But here is the fluctuations in foreign assets value can be offset by changes in the liabilities value of the foreign operations. So in this way we can minimize the negative effect of long term exposure of the foreign exchange rate. The third classification in this regard is the translation exposure. This refers to the translation of financial results of the value of foreign operations into home denominated currency. But this creates problem for the accountants as they are to translate foreign currencies into home currencies. There are certain issues that rise in currency translation for example what is the appropriate exchange rate that can be used for translating the foreign operations financial results into the home currencies denomination. Then the second issue is to accounting of gains and losses from this foreign currency translation. Now let consider an example there is a foreign subsidiary in Lilipsia who has a local currency called as GLIVER or GL. The exchange rate at the start of the year is equal to 2 GL per US 1 US dollar and at the start of the year we see the balance sheet of this foreign operation where the 1000 GL of assets is equal to liabilities of 500 GL int the rest is financed by equity and that is again 500 GL. Now we see that the exchange rate for 1 US dollar is equal to 2 GL and if we translate the GL denominated balance sheet into dollar denominated balance sheet at the start of the year we see that the assets are now equal to 500 US dollars and correspondingly liabilities and equities are equal to 250 dollars each. Now assume certain assumptions for whole of the year the foreign subsidiary has no business operations this means there is no net income during the year. The exchange rate changes to GL 4 for 1 US dollars and because the reason is the reason for this higher exchange rate is the higher amount of inflation in that foreign country. Now if we translate the dollar denominated balance sheet at the opening of the year into dollar denominated balance sheet at the end of the year we see now that the assets are equal to 125 dollars only with the corresponding values of liabilities and equity of 125 dollars each. Now at the start of the year if we convert this GL denominated balance sheet into dollar denominated balance sheet we need to convert the GL values at the exchange rate of 2 GL for 1 US dollar we see that now assets are equal to 500 US dollars with the corresponding value of 250 dollars each for liabilities and equity. Now let take certain assumptions the first assumption is that the foreign operations takes no business activity throughout the year this means there is zero profit for the foreign operations and the exchange rate per US dollar has risen to 4 from 2 and this higher exchange rate is due to the reason of higher inflation in that foreign country. Now at the end of the year if we convert if we prepare dollar denominated balance sheet we need to convert the opening GL denominated values into dollar denominated values at the exchange rate of 4 GL per 1 US dollar and now we see that the assets are now equal to 250 US dollars whereas the corresponding values of liabilities and equities are equal to 125 dollars each. Now there is a significant difference the opening and closing dollar denominated values we see that the dollar denominated value of equity has decreased from 250 dollars at the start of the year to 125 US dollars at the end of the years this means there is decrease in the value of equity despite of the fact that no operations taken place during the year still there is a loss of 125 US dollars and now that loss will definitely go to the owners in the home country how this loss can be counted for in the books of the home country there are two options as we are in translation exposure the first this loss of 125 US dollars may be reported in the parent companies profit and loss account or alternatively this loss of 125 US dollars that is due to the translation of GL denominated financial results into dollar denominated financial results and this loss is known as translation loss so as an alternative this translation loss can be converted into home currency and in the balance sheets of the parent company this loss can be placed under its equity section.


Live from the Sands Convention Center, Las Vegas, Nevada, extracting the signal from the noise. It's theCUBE, covering HP Discover 2015. Brought to you by HP. And now your hosts, John Furrier and Dave Vellante. Okay, welcome back everyone. We are live here at HP Discover 2015. This is SiliconANGLE Media's theCUBE. It's our flagship program. We go out to the events and extract the signal noise, join the conversation, go to hpdiscover.social. The new engagement hub, trending stories, trending hashtags, crowd chats. That's where we get the live keynotes, Meg Whitman will be on shortly and all the other CUBE videos are there. Our next guest is Colin Mahoney, SVP general manager of the HP software group for Big Data. Welcome back to theCUBE. Great to see you. Thank you, yeah, good to see you guys. It's just a straight year. Good to be here, yeah, wow. It's been that long, amazing. What's new, SVP GM, what's going on in Big Data in software, a lot of changes going on with an HP right now, so give us the update. What's happening with your group? Products, team, execution? Yeah, so great, great things happening all around. You know, I'm a product guy, so I love talking about products and everything that we're doing around the Haven platform, whether it's our Haven on Hadoop, Haven in the Enterprise or Haven on Demand. You'll hear us talk about all three of those aspects a lot. They're all really important to us. A lot of our customers are going through that transition from on-premise to cloud. They obviously don't want to compromise and give up any of the functionality that they're getting on-premise. So a lot of what we've been doing is how do we help them in that transition from-prem to cloud, specifically around the analytic platform, as well as compliance, regulatory reasons that we need to make sure that that data is secure from the moment it's created to when it's stored, when it's analyzed and ultimately served out. But lots going on, you know, the theme that you'll continue to hear about is the data-driven enterprise. And there's really, I think, the last, probably since we got together, there's just so much more of a focus on the business outcome, you know, as a whole, especially of Hewlett-Packard Enterprise, it's really just thinking about how do we deliver that business value when you think about our converged infrastructure, our services, our software, you've got to bring it all together and big data is where it comes together most. We've got to give you props for running earlier with Jason Newton and, you know, we were talking about Hadoop and Dave's speculating, hey, you know, Hadoop was going to be this big, only this big market never really happened. I'm like, well, Colin Mahoney predicted that three years ago, that Hadoop would be great, but not the only game it down. That became Haven, the vision continued, you said that on theCUBE. But now the digital transformation is data-driven enterprise. Okay, check the box, big data gets props there. But the other groups, too, hybrid infrastructure, digital experience, digital enterprise, and workspace productivity are all big data, too. They are. So are you sprinkling the big data, like heroin throughout the companies, different business units? I mean, what's going on with big data? Because you're also horizontal. Yeah, so I think big data permeates everything in an organization, and the good news is, I didn't have to tackle it. You know, if you look at the portfolio that we have, they came and dipped it into the trough themselves. Well, it's always been there. I think a lot of these products, like one of the things that was probably my greatest realization was when we took over this larger portfolio of big data products and we created the big data group in HP Software, so many of our products are storing massive volumes of data. And I thought, just coming from the vertical side, well, I know what big data is. I've seen petabytes and petabytes, but the truth is that a lot of our customers with some of the largest data sets are compliance customers, are archiving customers. And so I think what you're seeing is the data's always been out there, and what we bring to the table is, we know how to deal with compliance. We know how to deal with security end to end. We also know how to do the analytics. And so a lot of what we've spent time on is not just creating new products, which we continue to do, but how do we bring those technologies together and make sure that big data and the analytic capabilities that we have are permeating everything. And not even just software at HP, external partners as well as our hardware infrastructure as well. So it's a couple times you've now sort of alluded to governance-related things. And we've talked about this before, but you've got these big data projects spinning up all over the place. Many of them don't give any return, and few of them have any kind of governance structure. So this seems to be a big theme. What's going on there? And is it becoming a lucrative business for HP? I think, well, it's always been a great business for us, just working with data, looking at the lineage of the data, who has access to that data, the controls that you have to put around that data, the policy management around that data. That's always been a great business for us. And I think what we're seeing now is in some of the new frontier of big data, they're now starting to think about that stuff. They're now starting to say, wow, who does have access to this? We have a massive farm of information. Do we know what information is in there? Do we know where it came from? Do we know who has access to it? And so I think there's a natural progression there for the folks that are in the new frontier who've been doing some great analytics. They're now adding a lot of the compliance capabilities and for our compliance customers, they're now adding some of the great analytic capabilities. So I think it works well both ways.  You knew a lot about it then and you're even deeper into it now. And as John said, the world is not just Hadoop. Somebody said to us the other day, Hadoop's done. It's over, spark, real time, okay. So I wanted to, I said, I got to ask, he comes on, what's the state of Hadoop now? You guys got the relationship with Hortonworks, ODP now is this new kind of thing in the marketplace. Give us the update there. I don't, so first of all, I do not think Hadoop is dead. I think what Hadoop has done, and I think we talked about this a little bit last time, is Hadoop is morphing. And I think that's a very good thing for the market because I think what this is saying is, there are so many needs around data that the market has. So whereas Hadoop might've started off as MapReduce and while we may have been negative on some of the MapReduce aspects of it, it's really burgeoned into a lot of different things. It's storage, it's all sorts of analytic processing capabilities, SQL on Hadoop now is a killer app. Well, you know, we've been on that market. It's not a pure play, Hadoop. It's a variant that's been developed. It is. And I think the promise that the hope may be, the promise that everybody holds out for is, can you get the workload management? If you look at initiatives and some of the other things, because that ultimately is going to be the greatest challenge, right? Everybody wants a single place to put all their data, have every workload on that data and manage it. Easier said than done, but that's actually an area where HP brings an incredible amount from a hardware perspective especially, as well as software. That's an area I think we can really differentiate and we are differentiating. So I don't think it's bad by any means, but I think a thousand flowers are blooming in that ecosystem and it's taking this brand that is to do it. It brings up a great, good. I just want to follow up on that because when I heard this individual say that, I said, two people came to mind, you and Doug Cutting. I said, Doug, what do you think? But you're here, so I'll ask you. So how is it that Hadoop was able to morph and accommodate? It feels like it's an architectural thing that was designed in order to do that, properly to do that. Is that right? Or is it just ecosystem sort of forcing that? No, I think it's a combination. So I think there's a couple of factors at play. I think number one is it was designed to store and scale data massively. It was also designed to be open from a framework perspective so that you can have a lot of processing paradigms on top of the data, right? So I think that invites an ecosystem to try a lot of different things. I also think another force at play is that from a marketing perspective, we all know how difficult big data marketing is. So for all these small independent companies, a lot of them VC backed, rallying around something so that projects could take on that identity has been really important to that ecosystem. And you can question profitability models and all those sorts of things and some of them will take time probably to play out. But so I think there's a number of reasons why it's morphed in this way. And I think it'll continue to morph. And our perspective on it is, we love that ecosystem. We have a lot of products that make it better, help manage it, help create analytics on it, like the sequel on Hadoop offering that I mentioned. So we're going to continue to work with those vendors and partner up so that we can help in that ecosystem. Colin, I want to talk about developers. And one glaring kind of hole here at HP Discover is, it's not a lot of jobs, it's business conference. Customers and HP together. But you start to look at those pillars of transformation for the new style of business as Meg will announce. I mean, it's going to be developer century. All developer century. You've had a very successful event that you put on with Chris, Ellen, and team, the Big Data Vertica and User Conference. You have big names there, Facebook, Zynga, and we interviewed them all at theCUBE. That was a different, you went rogue on that. I mean, but you're doing it again. Well, they supported us, yeah. Well, I mean, not really. I mean, it was not conventional to do in the HP cadence of their events, but you saw a need early with developers and that's because you were in the throes of Big Data with Hadoop and OpenStores and whatnot. So now HP seems to be going down that path. Can you comment, are they going down that path? Absolutely. And will it be kind of a developer conference in the future and how would that look given the makeup of the new messaging and the new transformation? Yeah. So, yeah, great question. What would it look like? So we are having our Big Data Conference, the developer conference in Boston again this August, so early August. So the answer to that is absolutely yes. We're hoping it's bigger than ever. And the answer to HP and our commitment to developers is also 100% yes. And I think HP has always been committed to developers. You maybe just don't hear about it as much as you hear about it with some other communities, but it's something that we're growing in so many different ways. Not just having developer conferences, but if you look at the meetups that we're doing, all the activities, the hackathons, everything is really geared towards this community building, whether it's Haven or Helion, a lot of the communities we have, it is working. We absolutely, if you look at the numbers of developers that we have in our community, on our platforms, absolutely working. And that, frankly, is what makes us tick. I mean, we all want to aspire and sell to the CIO and believe that you can do these massive deals with the CIO and you can, but you need grassroots. You need both. Exactly. And that's what you need to do. And bottom up. You absolutely need both because when the CIO or the VPs and these companies go to their teams and they say, what do you think of this? They've got to be jumping up and down, saying we need more and more and more, and they only get that if you're giving them the community to try.  They had satellites all around meetups.  Now, granted, that's Android. It's kind of consumer flair to it. But I'm looking at you guys. I was talking to Bobby Patrick. Cloud has major developer momentum. Absolutely. You guys with Vertica and Big Data's developer momentum, a hardware company transforming into a software company with hardware was the new HP. I mean, I'm oversimplifying it. It's not on message, but that's really kind of what's happening, right?  Well, yeah, I mean, so, yeah, I can't really speak to whether and when that happens. Make a decision, will you? Yeah. But I think part of the power of the developer communities, too, is monolithic is not always a great thing to developers, right? The people that are interested in analytics may not be interested in cloud. They probably are, but as an example. And so we want to give them a vehicle to get everything they need for what they're focused on, but also make it really easy for them to get everything else they're interested in. And so I think if you look at that progression that we're paving with Helion, where we're putting a lot of developer effort, there's great things coming together there. And I think the developers are the ones that are telling us this is really useful. And then when you combine that with open APIs like Haven on Demand, some of the other things, very development-centric. So it's interesting, you say it's not monolithic that sort of developer mindset, and it's true, but we've been having a lot of conversations in the Wikibon community around sort of the move from systems of record to systems of engagement and now combining those with analytics and big data systems of intelligence. And the customers that we're talking to are saying that they basically, they can't throw away the old 90% of our revenue comes from there, but we want to create some kind of connection to the new. Do you see that going on in the customer base? And how are they approaching that from a developer standpoint? Is it still kind of stove piped? How are they transitioning the development side of things? So Dave, I see that every single day. And where I see it being very successful is they don't try to just create this massive solution that'll take three years, the sort of traditional enterprise data warehouse approach. Instead, they start with a data set, probably a new data set. They create an application around it and they know that they want to bring in the traditional data. They want to somehow join that to use a database term but it doesn't have to be a technical join. They want to bring that and marry it to their CRM data for a customer 360 view or whatever it might be. So you start with something small and then you start pulling in the feeds and all of a sudden before you know it, you have baked the intelligence as you're describing into the system. And I think that's what every organ, this is the data-driven enterprise. How do you bring intelligence to the business? Instead of forcing the business to go read a report or go to a dashboard, that's not going to work anymore. You need to insert that data and the intelligence right into the decision making so they don't really even think they're looking at BI and analytics. They're just doing their job and they're being informed by that intelligence. And they're putting that capability in the hands of business users who can make decisions, effect outcomes, near real-time, maybe not real-time, but near real-time, near real-time, before you lose the customer. A lot of them are real-time. Before you lose the patient. Yep. Yeah. It's exciting times and there is a, and I think there is a connection between that sort of data layer and the cloud layer. So maybe talk about how HP can connect those dots. Why is HP uniquely qualified to do that? Well, so if you think about that transformation and this goes back to what I was describing in the beginning, we, most of our customers are not brand new green field. They don't have the luxury of being able to say, we want to become a cloud company overnight or we want to become an analytics company overnight. We have some of those customers and they've done very well. But for most companies, I think they've got a lot of legacy and there's a lot of value in that legacy. There's a lot of data value in that legacy. And so what we help them do is manage that transition through our services, through our infrastructure, through our software in a way that is very pragmatic to them. And so I think that really is a unique value that HP brings. There's other cloud companies, there's other companies that might make infrastructure hardware, there's other companies that offer services. There aren't other companies that can do all three of those things and do it in that managed way that's seamless to the customer. So an example is we can take some of our customers and they can deploy on-premise their solutions with us. And then maybe they take a piece and they burst it out using Helion, using our cloud. And then they maybe burst out another piece and they can just try different ways of leveraging the hybrid. And that's really the value of hybrid. It gives you that flexibility without you having to forgo all the previous investment. I think that's a lot of what we're focused on and what we will be focused on. I want to also, I do, every time I hear these debates in the industry, I say, what would Colin think? So I want to ask you about ODP. Of course, you got a little bias with ODP. You got one of your big partners that's sort of leading the charge there. But you're also pretty pragmatic and open to different approaches that the customer decide. What do you think about ODP? A lot of people say it's not necessary. Others say it's game-changing. What's your take? You know, I don't really have an official take on it. I think that there's a role for consortiums to play to help bring some standards together, to help make things happen faster. And as you said, HP is an open company. We've always embraced open standards. We want a partner. One of our very close partners is integral to that. And so, we're open to it. You know, we're sort of, in a way, it's neither here nor there for us. And the most important thing for us, though, is when we talk to our customers, we're happy to work with them if they're part of it, if they're interested in it. We're happy to work with them on it. And that really is our sort of guiding light, is what does the customer want us to do? We haven't had a lot of customers come into us saying, you need to be part of this. And that's really what drives HP in most of the endeavors that we do. It's customer-driven. And so, if we're not part of something, maybe it's because there weren't enough customers driving it, but it doesn't mean we're opposed. We don't really have opinions on it, but I think in this industry, there is a need to pull together some of this complexity as multiple vendors. And we've got to work together to help these customers get through it, because it's a complicated time. There's a lot of different types of standards and technologies. And we've got to be able to embrace them all and really, truly remain open to it. What's going on with autonomy? We speculated three years ago when that act was to happen. Obviously, it is what it is. We don't want to go into the historical valuation issue, but it was clear that they embraced and they were sprinkling that around. And people were coming to the trough and taking some drinking from the trough with the big data technology, seeing it in printers. So with internet of things, with security, these are other areas. Again, big data needs are everywhere. What's the autonomy piece right now? Can you clarify where that's at? It's obviously they've run Twitter and Analyze. We'll see that out there. They're tweeting away. The A in Haven. You guys. Yeah, so it's still alive and vibrant and well, and it really is, and it continues to be sprinkled in a lot of different solutions, both the autonomy solutions that we have, especially around compliance, risk, our idle tech search analytics engine. So we continue to actually drive that as a core part of Haven, right? If you look at Haven, Vertica and Idle are really the two anchor pieces on Haven. And it is used in so many of our own applications as well as external third-party customer applications. And so we continue to do that. No major change strategy or anything. Just same old, same old. No, I think what we've been doing is realizing we've got all this amazing technology and an amazing team and where else can we leverage that? How do we leverage part of Vertica with Idle? How do we leverage part of Idle with Vertica? How do we leverage parts of both of those in Hadoop? And so you can see in the products that we've been launching, underlying those are these same technologies that we're talking about, from autonomy, from Vertica, et cetera. So I think that's going actually very well. Okay, so when you have your meetings with Meg, what does she talk about? She's, so, so give some insight into her management style and how you guys get along. Yeah. And she sees big data strategic, obviously. Cloud and big data seem to be the centerpiece of this show as well as other things, but yeah.  At the same time, she's very pragmatic. She knows what we have to do. She communicates incredibly well to everybody in the organization as well as externally. And we're all going down that path with her. And I think if you look at the pillars, big data is one of our key pillars. And you could argue that big data might be underlying some of the other pillars, whether it's mobility or cloud or security. We are, we are saying that. We are, absolutely. And Meg absolutely believes that. I think she also personally knows this better than a lot of people. Coming from the background she came from. She's from Silicon Valley. She was at eBay. She's seen the power of how you can transform an industry, recommendation engines real time. So from my perspective, it's great having that because it makes it a lot easier to really talk about the importance of what the mission is that we're on, especially around the platform and big data. All right, Colin, we're getting the hook here. I want to give you the final word. What's your goals for the show and what's your outlook between now and HP Discovered London? Yeah, so most important to me really is bridging that gap between the business and the data. And it might not just be the data, but it's also the developers. And so I think we have a huge hand in bringing that gap, closing that gap, as well as helping organizations with some of the greater transformations that are going on. Whether it's to a SaaS model, whether it's to a cloud business themselves, or frankly, a lot of our customers are trying to become data businesses themselves, taking some of the data that they have and figuring out how to monetize it. So my goal, you know, instead of talking about speeds and feeds and some of the other stuff that jazzes me up, it's really focused on what can we do to help our customers as Hewlett Packard Enterprise, as services, infrastructure and software combined together. I think that's what's really going to matter, especially between now and when we go to London. And what about the big data end user con or the developer status? Yeah, absolutely. So come to Boston in August. What's going on there? So same thing that we talked about, but very focused on exactly that pragmatism. Listening to our customers, we're barely going to be giving presentations ourselves. It's all about our customers, it's all about the users, it's all about the developers. So highly encourage you to come to that. Absolutely, absolutely. And I got to say for the folks, big data event in Boston, big data, what's the special title, big data? BDC, big data conference, yep. Big data conference, it's phenomenal. It's A-talents, A-players. But your point about customers is right on. It's customer centric, it's always very high quality content. And it's a good vibe, people sharing there. It's a real developer. It's very open. It's very good vibe, fantastic. And we'll do a hackathon most likely, right before it again this year, so. All right, Dave, get the legal seafoods that reservations ready for us. Cause I go oysters all in, get the lobster. All right, Colin Mahoney, C-President General Manager of HP Software, big data here inside the QB right back. Join the conversation. The live streams are coming up. Go to hpdiscover.social, crowdchat.net slash hpdiscover or go to the hashtag hpdiscover. Join the conversation. We'll be right back with more after this short break.