He gets so involved as if he's a bot sign, it's a scary sight. Because I say, listen, if you don't look after your money, you're going to get one shot he had to blow. Once you've ruined it, it's over. So invest your money. Invest your money while you've got it.  You know, he'll steal the toiles, does. You know, he still looks for a bargain. Appreciate the job you're in. Do it to the best of your ability and get the best out of it. But the only reason I was able to do it, because I was making money from trading on a morning, I mean, I was working five nights a week coaching kids and then two nights a week coaching adults.  And on that line of, you know, looking at the future of the young generations and pensions, the world is going to look very different financially in 20 years from now. Hello and welcome back to the T-Show where? It's time to trade thoughts. I'm your host, Gabriel, one of the T-Guys and joining me. The co-host, Poku Banks, the other T-Guys. Let's get it. Poku. It's been two weeks since our last episode. What's been going on? Yeah, an event for two weeks. Even recently, you know, my birthday, big 23. 23. Yeah. That's why you have such smooth skin, mate. Yeah, no, it makes sense. With that, now, I see that's my Jordan year, you know. So this is my year where I need to elevate and break all limitations upon me. So it's going to the next level, really. Well, happy birthday. I'm sorry I missed it. I feel like a bad friend. We're team guys. We're the hosts of this show. We see each other all the time. And I didn't even wish you happy birthday. Yeah, no, no. I came to your event, actually, on the Wednesdays of the day after. I didn't even say anything. I'm a bad friend. Next year. Let's see. You got it. You got it. You got it. When's your birthday? Ah, my birthday's in July. So we've got a while. But just as a heads up to anyone watching, if he doesn't wish me happy birthday, it just probably like him getting back at me for being a bad friend. So it's cool. We've got over that already in advance. But how was your past two weeks anyway? My two weeks, wow. A lot has happened. Been on honeymoon. I did get married a year ago, so it's cool. But yeah, went to South Africa, safari, living my best life. And then coming back and straight back into work. I mean, just to get back into the financial markets, what's been going on, the world of interest rates, inflation, banking crisis. We've had a lot going on.  It's just so much going on all the time.  That's good. Yeah, listen, I know that I'm in a fortunate position to be able to do something like that. But at the end of the day, it's also your honeymoon. You've got to go big or go home. Yes, you have to. The South Africa, that's great. Yeah, 100%. What's the traders out there under? I didn't really do that much when I was on my honeymoon, Poku. You're getting a bit personal here. We kind of focused on beach, full, relaxing. Oh, okay, okay, okay. There was no day trading by the pool. I can promise you that. That's the next holiday when I go on holiday with you for your birthday. 24, yeah? Yeah, yeah, we'll do that, definitely. So we've got going on today, Poku. What's the date? Yeah, no, so starting off, we've got Mark Walton, you know, veteran trader who is the owner of the Forrest Mental Pro page with over 12,500 students. Oh, that is a power of the internet. You can reach so many people from different spaces of the world. You take 12,500 students. Yeah. This guy's good. Very good. And not only that, to be able to manage and have that many people pay attention to his services and whatnot, it just shows that we've got something good to come in and we're going to learn a lot on how we can develop and grow off as well. That is sweet. And then obviously, straight after him, we're going to get the news from Felicity. I mean, this show does it all right. Great conversations, keeping you updated on what's going on in the news. So yeah. It's perfect for your morning commute or even late in the evening, grab a cup of coffee and we've got some great come on next after, don't we? Oh, my God. So after that, we've got Big John Fury. Now, I'm really hoping that that name rings a bell to most people but if it doesn't, let me throw a few more names out there. Tyson Fury, Tommy Fury. Well, this is their dad, the guy that raised them to serial winners.  They're both good. And they're both big names in the industry. So that family's doing something right. And we're going to speak, we're going to talk to him about, you know, the relation between boxing, winning, success, you know, mentality and trading and finance. We'll find that link. Oh, we'll definitely find a link. If we've done it with dating, if we've done it with, you know, comedians, oh yeah, we'll be done. We'll be done. But I do want to ask you, Poku. Are you a little bit worried about him coming on? Yeah, I've seen, you know, his press conferences, the banging on the walls, you know, I've seen him take off his shirt multiple times. He gets so involved, there's a piece of bot sign. It's a scary sight but, you know, let's see how he performs in a calm environment. Well, you never know it. At the end of the day, like I said, we're not going to promise you that this is going to be like a press conference because those are crazy. But we also don't know that it's not going to be like a press conference today. So, I mean, there's only one way to find out what happens and that's to watch the show. Exactly. And see Poku fight John live here in the studio today in the red corner. I'll be crazy. Anyway, let's dive into the show where it's time to trade thoughts with Mark Walton. Sweet. Yeah. Welcome back to the T-Show. We've got the one and only Mark Walton with over 12,500 students and the owner of the Forex Mentor Pro page. How you doing? I'm very well. Thank you. Thank you for inviting me. How's your journey here? It was very nice. I flew easy jets. Didn't go push the budget. Came from Portugal yesterday. So yeah, it's good to be here. The weather dressed it change must be. Yeah, I don't. We had originally lived in the Canary Islands for 20 years and the weather there is superb because in the winter it's 20 degrees. It very rarely rains and 300 days of sunshine. I'm the only one that likes the winter. Go pale. Oh, I don't mind it. I like a bit of rain, a bit of snow, a bit of wind.  I mean, I always have loads of clothes. We come to England in the winter. My wife's not bothered. I have every photo. I have a hat on. I have a scarf on. I have the gloves on.  Yeah, no. I think at times like the damp weather, nothing that's cool, but I think weather really impacts the mood. Oh, big time. Big time. Yeah, I get happier. Obviously using South Africa as well. It must have been a great... It was 25 degrees. I struggled. Living less. The main thing for me with we're here to discuss obviously is trading. And it's the trading that has enabled me to be able to choose to live where I want to live. And now my average client pre-COVID, and it's almost nowadays is everything's pre-COVID or after COVID, but was 50 plus thinking about retirement. My average client now, private, is your age. And they all want freedom. And they're kind of saying, COVID has taught us, I don't want to do corporate work. I don't want to be tied to something for the rest of my life. And if you think about it, how old are you now? 23. 23. You will quite probably live till you are 90 or 100. I hope so. Seriously. The average age in the UK has gone from 69 to 83 in one generation. There's more than 100,000 people in Japan who are older than 100. So the point is, why get involved in something if you're not passionate about it? You know, why would you want to go do a job? You know what the acronym J-O-B stands for? The job. Just over broke. Just over broke. That's most people. My daughter, when she left the university, didn't know what she wanted to do.  Because if you get a job, you will get on the wheel and you will be working to pay rent and to pay transport and buy food. And you'll get to the fourth week of the month, like most other people, kids in the UK, you won't have enough money. I mean, I always do say to that, I understand. But there is a place for someone as well that that's the life they want. They're happy in a life where they have their routine. They know what they're doing. When the hours and they're working, they're working. And the hours when they're not working, they're not working. So I do understand that side of it. But at the same time, they still need to be given the knowledge to make that decision. Exactly, to make the choice. And they're not necessarily being given that. Do you know, if you owe a £3,000 on a credit card and you only pay the minimum every month, have you any idea how many years it takes to pay that $3,000? 25. Oh, 31. Oh, that was so close. 31. An 8,000 interest. Yeah, I know.  It was sort the mess out. There was nothing left. But he'd had credit card debt for tens of years. Tens of years. It'd be damaging. John, that's why we're here. We want to try and educate people. And hopefully we can level up people's financial knowledge through these kind of scenarios where you feel like you're self-experienced and hopefully showing some wisdom yourself. Yeah, I'm not. I've noticed your mindset is very advanced, especially for, you know... Now what's on my mindset? For an older pergola. Yeah, I can't say it. Yeah, for a 23-year-old poku. No, for a 26-like-law. For someone who has lived on the earth for a while. Yeah. You know, and you respect your... Stuck digging. Yeah, no, you respect, like, you know, just a simple get-a-job type of mindset. But I mean, when you're sending your biography, it makes sense because you lived 10 different lives. Yeah. And in your lifetime, you know, I've seen musician on there, law re-driver, restaurateur, builder, property developer. Purple coach. Yeah, it's... Trader. Yeah. It's some... The irony is that trading funded everything. And the other thing, I was a coach in the Spanish Second Division for Fort Sal. It sounds grander than it is because when you coach the Second Division, it's regional. So I just coached in the Canary Islands. But we were playing some of the team's ex-prouts. But the only reason I was able to do it, because I was making money from trading on a morning, I mean, I was working five nights a week, coaching kids. And then two nights a week coaching adults. And I was getting on a plane every other weekend to another island with the adults to play a game and then get back Sunday and be ready for the market. Oh, that's good fun, isn't it? Well, we do have to ask, out of all of those jobs, is trading the best? Oh. Trading has been very good to me. And trading is very good in that if I suddenly need money, I can make money. But trading is not the be all and end all for me. Trading is, trading generates the money to give me the choice to do what I want to do. So my philosophy, I'm not addicted to it. And but I also don't just trade Forex. I did very well out of crypto. 2022, then 21, I took on private clients again. And also the members of Forex meant to prowl. And I explained why I thought that crypto was going to really kick off. And we got in. Well, I mean, the first Bitcoin I bought wasn't a good buy. I bought it in February 2020, just under 8,000. The following month, the COVID crash came and it dropped to 4,000. But I, because I understood the blockchains and what was going on, I was convinced it was going to work. So I took people on at eight grand. And then in the October week, we did a launch to the general membership. And the gains that we made were insane in nine months. I made more money personally in nine months than I did in the previous 20 years. Wow. Now, Bitcoin has started again in recent days. And I was showing that Poco and I before we started was sharing tips. And this is a trade I've done. But two weeks ago, I explained to people, crypto is a no word in a lot of cases and the banks, you can't talk about it. But I showed them how using stock, an American stock, which is a blue chip stock, you can actually invest in Bitcoin and it's more tax efficient because you don't pay, you could buy the stock within an ISO and you don't pay tax. But the stock went up 35% in 10 days. But it's linked to Bitcoin. But the reason I knew how to do it was I used exactly the same technique I use for my trading, for Forex, for crypto and for stocks and for gold. So the beauty is if you can learn it, and it's really simple what I do. I've looked to all the interviews you guys have done and it's really strange because you had Jason Senon and Jason was one of these traders in the pit when they're shouting and screaming at each other. And I say, I started as Billy Nomates in the basement and yet we both at the end do virtually the same thing. And it's all keep it simple. You don't need fancy indicators. To me, it's just all repeatable patterns.  And there's a saying in trading is you make the profit, we're paid to wait. And so the Bitcoin, I'd waited six months for Bitcoin. This week, I had a trade. This week, three trades, one on the euro pound. And I am known for being spookily accurate for the entries. I picked them from hundreds of pips where it's not rocket science. I look at Fibonacci, I look at trend lines, I look at the trend, I look at the daily range. And I look where did it bounce last time? And Bitcoin, when Bitcoin went to 67,000 and then it dropped, it came back down around 30, which is where it struggled on the way up. So it was obvious. If it was going to stop anywhere, it was probably going to stop there. And that's what trading is. You don't need to make it over complicated. You don't need super sophisticated computer systems. I bought them all. And I regularly get offered things. Will you promote this really? I hardly ever promote anything because most of it is not needed. You just need to understand the basics of it. You said this, there's a keep it simple, is a philosophy that's worked for you. Yes. That you think and that you see working. I see it working in other aspects of my life, especially in finance as well. When I speak general finance, personal finance. Yeah. Keep it simple. You can go and start learning a little more complicated stuff, levelling it up, but for the majority of people, the simple is enough. Yes. But on the flip side of that, like you've taught a lot of people, you've got a massive audience of people that listen to you. I'm sure you've seen a number of people do well, but a number of people not do well. What are the biggest pitfalls you're seeing in trading? The ones who do the worst often are the ones that start off the best. Because I've had people come to me, I had one particular guy. I was, we have a weekly life training session, and I was talking in this training session, explaining about a guy that came to me, started to do really well, doubled his account in three months, did it again in three months, quit his job, started trading for family money, and you know where it's going to end. He'd been on the biggest winning streak ever, and he blew the lot.  And then while I was doing this life training session, there was an Australian guy in the room, and he said, I took 2,500 to 75,000 in three months, and I was reading the chat, and I thought it was a misprint. I thought it was 2.5 to 75, but I spoke to him afterwards, it was true. And he'd been on the biggest winning streak everywhere. And he'd been financially struggling, suddenly he thinks that he's now going to be a multimillionaire, he's looking at brochures for Porsches and everything, and he lost it all in one night. And again, he'd just been on the biggest lucky streak ever. It's difficult to tone people down, and unfortunately a lot of people don't listen. So we have a guy at the moment, we've just done a case study from him, he joined us eight years ago. I mean a lot of our students joined a long time ago, we started in 2008. So a lot of them, they're not necessarily active anymore. But this gentleman is 63 now, he started in, when he was 53. And he said, when he came in, there's a bit at the beginning, right at the beginning of the course, that says, right, the first most important thing you need to do is create a business plan, and it's a business stroke life plan. What are you trying to achieve? What period of time? And let's be realistic, you will not get rich quick at this. And I talk about all the different things that you need to do to put the foundations in properly to be able to do this. And most people kind of go, oof, that's boring. Right, let's get on to the technical, let's go on to the charts, this is the sexy stuff. So this guy David's just written a thing where he came back in July, no June, and he said, right, I realize now, I should have listened to Mark in the first place. And I even had a guy last year from Sunderland, he's been with us 10 years, and he attends the weekly live sessions regularly. And he sent me an email last year, he said, you know what, I finally thought, I'm going to do what he's been banging on about for 10 years. And you know what, it actually works. But the problem is, is that people come in and they think, well, okay, what he's doing works, but he's only, I only risk 0.5% per trade, but I'm looking for two or 3% return. I don't need to win more than 50% of the time. I can actually be profitable at 40%. And being from a sports background, that's difficult, because we're brought up, we want to win and losing is bad. Well, actually, it's not, it's just math. And as long as you're taking trades that would give you at least three, four times the risk, you only need one in three to be profitable, which is a real, real mind shift and difficult for a lot of people. But this general thing is, everybody wants to get rich quick. The crypto actually spoiled young people, because I had a good friend of mine, he's someone who's at university. I said, just ask him, how many of his mates are in crypto? The whole university is in crypto. And as we know, it's gone up, it's up another 50% this morning. This is easy. Life's going to be, and now suddenly it's not. But I was trading stocks in the 90s, the dot-com boom. In those days, you used to have to ring the broker up to place a trade. And I stayed in too long, because I got caught up in all of it. We're all going to get rich quick. This is easy. But it's 20 years later, before we had really another brilliant occasion and that was crypto. And it might be another 10 before it comes again. The other thing is, don't just learn to trade. Have another skill, because you don't need to spend more than an hour a day doing this. And therefore, if you can learn another skill. So the main investment you should make is to learn something that's preferably online that you can do, whereby you can generate some income. And even if you only make £200 a week from this and £200 for that and a 50 from this, it doesn't matter. So if you have a bad month from trading, you're still going to be okay. Because the worst case in trading I was doing it only trading for five years. And if you go into a slump and we're all going to a slump, no matter what they say, we will all go to dig your way out. It's like digging your way out of debt. It's twice as hard when you're in debt to get back to naught than it is to go forwards. So realistic expectations, create a business plan, a life plan, work out the trading rules and stick to them. Yeah, definitely. I think especially with trading, I always like to tell people, always be doing something because I think once you're relying on trading to live on, that's when your psychology is all over the place. You're trading as if this has to work. And I think give yourself time to breathe and learn and maneuver the markets. It's so much easier on my mind especially. Yeah. Do you have an approach to turn people away when they come in trade? And do you encourage a lot of people to trade or do you really think there needs to be a specific person when it comes to this? Anybody can do it in theory. Anybody with reasonable level of intelligence can do it. There are certain industries accountants generally struggle and I think it's because 2 plus 2 always equals 4 from an accountant. Whereas in trading, I can do the best analysis going and this is the spot and it doesn't work. But I will still take the same thing next time because it will probably work. So they struggle, sports people struggle, as I said earlier. We want to win. We want to win. We want to win. You know you don't need to win.  So then in terms of strategies that you may teach beginners or those on your, as your students, how do you go about and what type of strategies do you like to implement? I have one strategy I've used for 20 years. And all I've done over the years is take more and more things off. So I now start with a very simple chart. I have, I used 200 EMA and the 55 EMA. I use trend lines and I use Fibonacci, which Gabriel's probably like, well, but the thing is to a technical trader, then that you understand where I've got it. Yes, please. So it's not complicated, but I look at structure first and what I say to people is, look at weekly chart to start with and look to see, is it going up? Is it going down? Or is it going sideways? Because if it's going up, we want to buy. If it's going sideways, we have a different bet we will look to buy on the puller. If it's going down, we want to sell. It's that simple. So you're looking at the structure. Then I go to the daily and I am then looking for multiple reasons to support the theory that if this thing drops, it will probably bounce here for multiple reasons. And I look for five reasons. So that could be the trend. It can be a Fibonacci level. It can be previous major support resistance. It can be a whole number as silly as it is with a lot of pairs. So you look for four, well, five reasons I teach people to look for. And is it going up down a sideways? And then the only difference would be is if there's some big news out, so the Australian news usually comes out in the middle of the night for us, wait until the news has come out. But other than that, I will place the order at the market open. So it's not complicated. The other part of the equation is when you're looking for a trade, it must have the possibility to make it minimum twice what you risk. And ideally three or four times. So on that basis, you can win one in three and still be profitable. You don't have to win all the time. You don't have to take many trades. You just need to wait. And so I was telling you earlier, I did a trade last week in a live training session with my students. I'd seen that Bitcoin had broken out of the triangle, which technically, as you know, is an important area. So what I said to my students, if you're not interested in crypto and it scares you and you can't put money in because the banks won't let you. You don't want all the hassle with the wallets. One of the ways that you can do this is to use a U.S. stock called MicroStrategy. And MicroStrategy had broken a trend line and a 55-year mag and it was following Bitcoin. Why is MicroStrategy important? Do you know why MicroStrategy is important when it comes to Bitcoin? No, I don't. MicroStrategy own 158,000 Bitcoin worth five billion dollars. So if Bitcoin goes up and they've got 158,000 that an average buying cost of 29,000, their price will shoot up. So from my telling my clients and students, it shot up, it nearly went up 40% in the end in 10 days. But that was just structure. As it being going up down on sideways, has it consolidated in an area? Is it breaking an area? And fundamentally, well, Bitcoin's gone up. They've got 158,000 of them. It's not going to go down. So again, start on the big picture.  If it drops, where is it probably going to bounce for as many reasons as possible? And that's all you need to do. You make a sound simple. It is simple, but it's this that screws everybody because they get greedy and emotion and silly. I was telling a tale yesterday. I have a guy I'm just teaching now. He is a deep sea diver in the North Sea and it's one of the most dangerous jobs in the world. There's three of them go down in a capsule for a week at a time. It's pitch black and it's terrifying. But it's the kind of job. It's one of the most dangerous in the world and he and his two other guys down there have to follow every health and safety protocol to the letter or somebody could die. I'm teaching him Forex. Two weekends ago, he'd been with me a fortnight. He spotted a really good trade and when the market opened, the spread was 15 times wider than it should be and he took the trade. And I said, you're running around like, there used to be a character in the Muppets that used to run around with his hair on fire. And I said, how can a man who's in such a structured, disciplined environment when it comes to trading run around like a lunatic? I've always been, when it comes to the UK, I've always told my friends, you know, I would rather focus on conquering the UK, certain terms of maybe selling up a business here, make a shock on my network and then branching out. But what do you think about? Or do you think that's the UK? And there's... I hope you've done that. No, but you're 23.  It's like pensions. I mean, I briefly sold pensions for a UK bank and I am not a big fan of pensions for young people. I think it's nonsense. You know, if you're 23, I disagree. You were banking. You can have that one in a minute.  Yeah. Of course. But seriously, and healthily to 100 because the life expectancy is going up all the time. The downside is the pension scheme for the government pension is going higher and higher. So whether there is still a government pension when you retire, at the moment it's now you've got to be 67, used to be 65. The governments have not got enough money and we have an ageing population. So they're going to keep pushing it. So when you retire, it will be 80. So do you want to start putting money away now for 60 years time? And do you want to follow the mantra of always put money in stocks because you always make money? That's not true. I think there are other ways of putting money away. So even if it is in property, for example, that's still money for your future. The reason why I do believe in pensions is because time is one of the biggest assets for money. Yeah. It is. It really is. So I do encourage people at a young age that, okay, you might not think that 50 pounds a week will do anything for you because it sounds like nothing. But the truth is, if you're putting that away from the age of 20 or 18, all the way up to the age of 60, 70, 18, it's just a little bit just to give you that security because so many people are hitting retirement age not able to retire, having to continue working, nothing in savings. I think the average, like mean savings at retirement age is probably around 50,000 pounds in the UK. Now don't quote me on that number. It's about 75. 75,000 pounds. Can you live off 75,000 pounds in your bank account for the next now you said 30 years of your life? That's why I do encourage people to think long term. Maybe it doesn't have to be labeled as a pension, but just something put away towards an age in your life where you're hoping to not have to rely on bringing in an income. The point I'm making is I'm not saying don't buy stocks, but it's the timing. So for example, if in 2008 you'd been saving for 40 years and you have a million pounds in your pension fund, when the stock market crashed in 2008, it dropped 58%. So your million, you're going to retire next week, your million's just gone down to 480,000. And people say, yeah, but it always comes back. It took five years for the S&P to recover. But gold tripled within those five years. So just like I mentioned earlier about crypto, if you catch the right time, you can make a lot of money. Somebody said to me recently, if you had to start again, what would you do? I would buy property. And the reason I would buy property is I looked at an exercise this morning. If you put 8,000 pounds into the S&P in 1970, the average, you could buy two houses at that time or you could put it in the S&P. Now it would be worth one and a half million pounds. And those two houses would only be worth half a million because the average house price nowadays is 250,000. But the second house would have been, if you did a conventional mortgage, would have been paid off by 1995. So it would have been giving you income for 23, 28 years now. And this year, it might be giving you 2,000 a month. And the point of that then is instead of putting money away for 60 years time, you could draw that money on a regular basis. It also gives you the freedom to say, okay, if you really wanted to do something, you could sell one of the properties. And as you get older, tax wise, there are advantages you can put larger amounts in. So I'm not saying I disagree with it per se, but the timing. So for me, I don't think for a 20 year old, it's the best advice. Yeah. Stocks always make money, but stocks are cyclical. Well, I'm hoping what someone takes out of this really is there are options. And don't just take things because someone tells you. Exactly. Do your own research. And there's a number of right decisions. This is what I like to people. Everyone's scared of making the wrong decision. I say there's a number of right decisions you can make. One of the most important one is to actually make a decision. Yes, do something. Do something. Be active and be conscious and educate yourself on that topic. And on that line of, you know, looking at the future of the young generations and pensions, the world is going to look very different financially in 20 years from now. Very, very different. It may not even be the same as it is now. I think it's going to be a full 180. Yeah. You look at AI, you had the conversation with Jason saying about the AI for trading. That's a different conversation. But the thing is now, when I was a kid, there used to be a program in the 70s called Tomorrow's World. And they were trying to interpret what was going to happen by the year 2000. And they thought they'd be flying cars. And nobody could even imagine the concept of the internet. And things did change. I mean, there was lots of things happen, but the last 10 years, things are moving so quickly. I think one of the Amazon factories now that used to employ hundreds of people is employing, like, 10. Because there's robots flying everywhere. The only thing they need people for at the minute is to take stuff off the conveyor belt and put it onto the robot. Now, they announced last week that they're testing robots to pick things off the conveyor belt. So you've got that level of work's gone. You've got the supermarket now. A Tesco near where my daughter lives in Middlesbrough. Used to have 27 checkouts. There's four now. Everything else is self-checkout. Those jobs have gone. And then you look at train drivers. I think it's Saudi Arabia. The whole network, the whole metro system is no drivers. So if all those jobs are going to go, and anything... I talked to a lawyer recently, and he said there's a lot of jobs going to go in the legal world, because a lot of the admin work has done people searching for documents and case examples. You just have to chat a GP now. And again, accountancy. Most of it can be done automatically. So then, if you're going to end up with millions and millions of people around the world for whom there is no work, there's no realistic possibility of work, they tested in Switzerland last year, they're testing it in the UK now, is what's called universal income. And what that will mean is everybody, they're going to get rid of all the social security system and the tiers of government, and everybody will be given £2,000 a month, whether you're working or not. If you work, then you can earn more. But the thing is, if you have tens of millions of people with no jobs and no prospect of a job, you're going to end up with rioting and revolutions and the rest of it. So the rich need to keep a lid on it by spreading the welfare out, give the money to people. So it may be, as you've started the conversation, quite right, I think so. I think within 20 years, the current financial system will not be the same, because everything at the minute is geared to growth. Every country has to increase its GDP. Every country has to make more stuff every year to sell to more people. But there is a drop in the birth rate in the Western world, so there might be fewer people. And there are minerals and things that we'll run out of. So you can't keep making stuff to make more. So I think the world will change. And again, that's why I wouldn't be in a rush to commit to something 60 years ahead.  There are not enough houses in the UK and everybody needs somewhere to live. So the flip side to this conversation is this idea of with new technology brings new possibilities and new opportunities. So we know it's a fact that there are going to be millions of jobs disappearing, but maybe the same way that the internet was created, millions of opportunities are going to be coming. So what's your approach? What's your ideas to young people today? How do you prepare yourself for this new world coming so that you will put yourself in good stead, even if it's to do with trading specifically to take on? Teach yourself a skill. Learn a skill. Learn trading. Learn. I mean, I bought my kids one Christmas. You know, they're unwrapping presents and one of which is a course on how to build a website. And it's like, oh, God, now what's he doing? But all my kids could build websites. My youngest daughter, the one that went to Australia, is still touring the world. She's a photographer as well, but she is able to build websites. That will probably go with AI, but she's made a good living for the last seven, eight years. So learn a skill, a practical skill that people need, and ideally that you can use online. Or if you're more physical, get a trade. Learn to be a plumber. Still, people are going to have to crawl under floors to put pipes in and things that AI won't be able to do and electricians and things. And if you learn that kind of skill, you could do that anywhere in the world. So just learn more of a skill. Do not depend on your job to be there in 20 years time and don't start devoting yourself to a career for something. You know, think the implications of, could a machine do what I'm doing? Could he do it better, quicker and smarter than me and cheaper and won't go on strike? Well, if that's the case, you need to start thinking now about another way for what to do in the future. With AI's entering the trading space, have you ever thought, you know, that AI is trading for people, making money for people with the bots out there? Do you think that will ever affect us retail traders trading manually, or you always see that as another side of the market, which if someone was entering? We've always had, the last 10, 15 years, we've had a level of automation. The banks have all got automated software, a lot of which appears to be influenced by Fibonacci, which is why I think Fibonacci works. So often you will see price will hit the 78.6 Fib and bounce straight off it. Well, if all the banks and the funds are using technology with that in built, then it becomes a self-fulfilling prophecy. So we've already got a level of automation. I talked to a programmer last weekend, and I said, to me, what would be a concern is if everything was perfect, because it's learned from its mistakes, would we end up with a situation where price doesn't move? Because, and then, then we've got a problem because nobody can make any money. But then again, because the funds and the banks make so much money from it, they're not going to play that game. So he said exactly the opposite. He said, because each piece of AI is going to be programmed slightly differently, and he thinks there will actually be more extreme moves. But at the end of the day, I have no idea. Nobody has any idea, to answer your question about kids for the future. Nobody, no. The internet. Nobody dreamed of the internet. When the internet started, there was a famous Nobel Prize-winning economist called Paul Krugman, who said that it'll never catch on. It'll be like the fax machine. It'll be gone in five years. And this guy is still writing in the New York Post, and he said the other week, if you take food, housing, and heating out of the inflation figures, we're back at 2%. Hang on a minute. If food inflation is still at 15%, you think of the rents in London, and how much they've gone up, 10%, 20%, 30%. How can you turn around and say, well, we'll take food, and housing, and heating out of the... This guy's a Nobel Prize-winning economist. We take the three most important core elements of our life, that of our life. Everything's great. Yeah, it's insane. It's insane. So, and again, you need to be able to read things. If a survey... I sent to a kid years ago, if a survey comes out and it says, listen, eating beef burgers is really good for you. Just think who paid for the survey.  The only reason they're telling you is because they've got a load of it at 108 they want to sell, and they want you to pile in and buy it so that they can sell it. So you've got to learn to cut... You talked earlier about there's so much information. You really need to peel it all back and just be very cynical and just say, okay, I have a few people I recommend, and I'll send you the links later on. And another thing I would give you, you had Richard was on last week and he kept pulling presents out behind the plant. I will give you a $60,000 present. If you want to understand what really happens with Bitcoin and blockchain, there is an MIT course on YouTube, completely free. It's a 20-hour session, so it's a slog. But if you want to understand blockchains, which is why crypto is so important, you can watch that course and the students on that course have paid $60,000 for that course. On that note, thank you very much for our present. I just want to say thank you so much for... Thank you for inviting me. For this, that was brilliant. I think so many insights. Poku? Yeah, no, I definitely learned a lot. Definitely going forward and we'll definitely get to play that, especially that course. I think more older people should be willing to share experience, but not in a negative way. The world is a beautiful place still.  I like that. Always end on a note of positivity. There are opportunities if you're willing to work hard, search and educate yourself on them. Must educate yourself. Which we have done for ourselves today selfishly by taking all of your knowledge from you. So, thank you for that. You're welcome. Nice to meet you both. Thank you. Well, thank you, Mark, so much for your time, your knowledge and your wisdom here on the show today. And now, we're heading straight over to Felicity, who's going to be bringing us the latest financial news, what's going on. So, enjoy. Hi, Poku and hello, Gabriel. It's great to back with UT guys and with this week's Hot Topics. I'll be taking a look at predictions that the US is set for recession in 2024 and what that might mean for interest rates. We'll hear why despite the downturn, asset managers are starting to see green shoots in China. And speaking of green shoots, there are predictions that European stocks could see a pretty positive 2024 with rising wages, less recessionary risk and possibly even interest rate cuts. All of that coming up. Now, I don't know if you've started your Christmas shopping yet, but the new year isn't far away. And while a lot of us make new year's resolutions, UBS has been making some predictions. It's predicting that the US economy is going to roll into recession in 2024, driven by economic headwinds like rising unemployment and households that are simply running out of savings they've been using to support their spending. Anyway, that's the bad news. The potential good news is that UBS thinks inflation is going to come right down and that's going to lead to the Fed cutting interest rates by a whopping 275 basis points. Now, that is more than four times what the markets are pricing in. But the Swiss bank reckons that falling inflation and then a desire to support the economy is going to lead to some pretty steep cuts in interest rates. The Fed's Committee on Monetary Policy has hiked interest rates 11 times since early 2022. So those cuts would come as a relief for a lot of investors. Now, we've had lots of negative news coming out of China over the last few hot topics, including new US sanctions, rising household debt, falling exports and of course those ongoing concerns about the wider impact of the real estate crisis there. But not all traders are singing the blues when it comes to the world's second largest economy. In fact, some have started questioning whether there's potential in the country's depressed stock markets, especially if the US economy is likely to wobble into recession in the coming months. A number of fund managers have told the news agency Reuters that they expect improvements in Chinese earnings, particularly as consumer demand recovers and the government continues to inject stimulus through state spending. And they aren't the only upbeat forecast. The International Monetary Fund thinks the Chinese economy will grow at 5.4% this year, although it is likely to slow down 4.6% in 2024. But even that prediction of 4.6% growth is an improvement. As recently as October, the IMF had been talking about expected growth of 4.2%. Now, many people think the weaker Chinese currency just now has made it harder for the central bank to slash interest rates in order to help the economy recover. But the People's Bank of China did increase its support another way. It pumped more money into its financial system through one-year policy loans. In fact, the cash injection is the biggest since 2016 and went beyond what some analysts had expected. Shall we have another prediction? It's that time of year, isn't it? Strategists at Goldman Sachs have an upbeat outlook for European stocks in 2024, predicting a jump of 7.5% compared to current market levels. Now, its analysts are pointing at an improving economic outlook, a fall in the risk of recessions, and growth of 0.9%. Now, that might not sound like the most impressive growth Europe has ever seen, but it's a definite improvement on the 0.5% growth expected this year. Goldman's also predicting interest rate cuts as the European central bank sees inflation continue to fall, but can inflation keep calm and carry on falling? That's the question, and a recent IMF blog suggested that the economic recovery is being helped by rising wages across the zone, and it warned that the eurozone needs to see improved productivity alongside those rising wages, otherwise there's going to be an ongoing inflation risk. Solving the productivity problem is absolutely key for long-term sustainable growth. Anyway, there is certainly no productivity problem in the tea studio, so Gabriel and Poku, I will hand back to you tea guys. See you next time. Thank you so much Felicity for bringing us the latest financial news, and now on to a very special guest, the man that we teased a little bit about in the intro to this show. We're bringing you Mr John Fury, father of Tyson, Tommy and Roman Fury, who are all paving the way, well, some of them have paved the way in boxing, and also a professional boxer yourself. Yeah. Welcome to the show. Thank you for having me on your show. Great to be here. Anyway, I want to dive straight in to mindset, because I know just how big that is in boxing.  So as someone who has succeeded and has kids that have succeeded really well, how do you go about creating these environments where you create such strong mental resilience? Well, it's from an early offset really, you know, as children. If you want them to do well, you've got to put time into them. And I put a lot of time into all of my sons. I've got six sons, and I put a lot of time into all of them, not just the ones in the limelight. And I feel if you get them on the right path from a young age and tell them, it's all about thinking and mindset and thinking before you act. If you can get them two things right from the early age, everything else will fall into place. And they wanted to do it, they've got to want to do it, they've got to want to be successful in their own right, you know, and I've learned them to be that way. Don't follow your brothers, your individuals, do your own thing, have your own personality and your own life, and be proud of what you do, not what your brother can do, what I can do, it's what you can do, it matters. Yeah, and that's the, that was the blueprint for all of my sons. I'm already hearing similarities, this idea of don't follow the other people's path because you have to do it yourself, you have to learn yourself, you have to experience yourself to be able to build those mindsets. I mean, with money and finance, we say the same thing, you can't just copy what someone else is doing with their money because what works for them isn't going to work for you.  One man meets another man's poison, you know, at the end of the day, it's what you want to do and what you're up to doing and if you're comfortable doing it, you'll succeed. But you've got to love what you're doing as well. If you're distracted and you're not 100% engaged on what you're focusing on, you won't work. It's got to be 100%.  What are the other people doing wrong with their mindset? It's not what they're doing wrong. Not everybody's a natural fighter. Fighters, what's got a natural mindset, what don't need too much coaxing, don't need too much training, they're what I call naturals. They're good in every way. They're going to succeed. They've got the talent, they've got the ability, they've got the mindset and they've got self-belief, which is the most important thing. And if you get someone what's believes in yourself, they take a lot of stopping in every avenue and that's why there's world champions on his own and full of them. Look how many people go through boxing and how many make the grade, how many may with us, how many railing and it's how many angles, how many Muhammad Ali's, how many Tyson Furies. There's not many people what's got everything. Harold, I mean, Poku, let's talk about the noise when it comes to money.   But in reality, you need to follow your own path, understand the markets for how you see them. And then you make your own sound decision rather than just you'll listen to what everyone else says and forensic. Sure. There you go.  I never boast about your success because it affects the man next to you who's not doing so well. He'll resent you for it, he'll hate you for it, and he'll never want to be a friend because of it.   All the man next to you is happy because he doesn't know what you're doing. It's like I know years ago, if a next-door neighbour got a new front door, he wanted one. If he changed his car, he wanted one. It's like repetition. They're all followers, aren't they? You know, but what you do is give them nothing to follow, in your case. And I know plenty of multimillionaires who drive old cars, they mix in.  Because they've studied the job properly, and they've done it right, and succeeded. We don't need to tell anybody about success, do you? Because everybody today on the internet can look happy when they take a photo of that phone. Anybody can smile for 10 seconds, take a picture. Okay, the world's all right. And when the phones put down, they're crying. And it's so easy now to be a plastic millionaire, isn't it? There's all this taking by a Rolex watch for £80 a month. You can get the best of a car for £400 a month. You can look the part. Oh, are you? What are you when you look at it in coal light today? A fraud. There's no substance to your game. I mean, that's brilliantly said.  You become a millionaire by having £1 million. And I think that's exactly what he said. Very clever. People are so ready to spend it, but not to save it. They want it now. They want it now. But the trouble is, again, when you get a proper millionaire and you get a fake one, you'll get laughed at. It's like a diamond will shine. A stone won't. You know, and there's a lot of stones out there. I call them pretenders of one of these. You're better off being yourself.  I'm a nice guy. I try to help people. I do the best I can. I'm considerate. What more can you be in your life? But all those things, I never wanted to be. I never wanted to be a show-off, never in anybody's face, never do anything. I drive a 32-year-old car and another 25-year-old car. And I get joy out of being normal. Because to me, it's A to B. You know, and as long as I can pay my bills, I'm not being debt to anyone. Isn't that a success on its own? That is, well, you're doing better than 99% of the world, right? Yeah, because I always say, if you can't afford it, don't have it. Of course. Don't have it.   Unless they were really nice. They'd have to be nice. They'd have to have got 22-carat gold soles or nothing of that worth.  It's all rag. It's just got a different brand on it. It's got a successful brand. And you're only buying the brand. You're not buying the quality to close it. Because when you put it in that washing machine, after three or four washes, it's in the same street as yet. But it's a brand, isn't it, again? Well, that's smart. They know what they're doing. They know what they're doing. And they're targeting the right. They're not targeting rich people. Let's put it that way. They're targeting the wannabes. Exactly. Oh, I won't have a Nike t-shirt. I won't have Nike trainers all in Nike. Because they want to be like that. It's like I've always said. You could live in a castle. Drive an old vehicle.  But you drive a nice car. And live in a tent. You're somebody. Because you're being judged on what they can see. They can't see your tent. They can't see your castle. Talking about what you're driving and what you're dressed in. You know? Yeah. And to translate that, it's essentially irrelevant. It's a facade, isn't it? Facade. Poki, I mean, how many things did you hear there that you'd wish you could just teach young people when it comes to money? Yeah, no. I think people want to look the part rather than be the part like we always said. So with that being said, it's all about how you manage your money, how you place it, and look for it to grow for a further generation. So it outlasts, you know, the dynasty. So I think that definitely needs to be expressed to you. But again, I think with social media, there's so many distractions where you're scrolling. You've seen all these nice things. You have access to all these things where maybe 20, 30 years ago, you grew up way more humble. You only still was around you. So humble, didn't you? Yeah. You know, at the end of the day, the world today want you to be like that. Because it's better for business. Now, if they all fault like me, you get your shopping in Aldi. You know, food's food. A supermarket is a supermarket. Whether it's Sainsbury's, Mark's, and Spencer's, or Aldi a little, it's still a shop with groceries on a shelf. But people think, oh, I don't want to be seen going to Aldi. They might look at me and think I'm an old woman and haven't got any money. Well, that's the mindset what's being put out there today. Or it's the wrong mindset. We was brought up with Aldi anything. And we knew if we got all over a pound to appreciate it and spend it wisely. And that was the reason why I can guide all my sons. Because I say, listen, if you don't look after your money, you're going to get one shot here to blow. Once you've ruined it, it's over. So invest your money. Invest your money while you've got it. Forget about the big cars. Forget about the watches. Forget about the clothes. Get your footings in order. Get your ducks in line. Are your money invested? Like I said, that's the perfect transition point. Because I want to talk to you about business now. We know that boxing, when you're successful, brings with it a lot of money and a lot of success. It's there when you're at the very top of any category, right? So as a business person, what is your approach? What are your son's approaches to handling that level of financial success? Again, it comes down to parental guidance, doesn't it?  To do what's right with that money. So therefore, he has to listen to guidance. And it's all about having good people on board as well. You know, we've got some real good advice on board, not just myself. You know, we've got good lawyers. You know, and if you listen to what people's got to say, you'll keep your money. But listening to the man next to you, what doesn't really know a lot, or cost you. What you've got to do is put him in ease category and you and yours. You can slam the same amount of money you go out. You can do this. You can do that. But you've got to realise what level you're on and what's good for you and what's good for your money. You know, and always look for a bargain. Oh, I love a bargain. You've got to have a bargain. Like in my house, all my stuff comes out of like auctions, charity shops, where you can get it cheap. Because somebody's bought that and they've lost a lot of money in that product. But I've got that same product in my house and it's doing the same job for cheap. You know, so that to me is a win-win-win. I really want to stress what you're saying right now. It's so important. I mean, there are people listening to this that aren't anywhere near the level of the fury family and especially even yourself with the success that you've had and that your family have had. And yet the way that you're talking about money and the fact that it's not about what's on the outside, it's about what's on the inside and just listening to the way that you've approached it, the way that you spend your own money. I think that there's going to be a few people checking themselves thinking, well, wait, wait a second. This guy's much like, he's bigger time than I am right now. And he's like you said, driving around in a 25-year-old car, a 30-something-year-old car, looking at charity shops, doesn't care what shop he goes to. I'm really hoping that we're hitting a hard reality. I mean, I know that even I am here. Speaking to yourself, listening to how humble you are with the success that you've had, I'm learning a lot right now that there's a whole new level to play when it comes to this modest game. Yeah, 100%. I wanted to ask then, how was that translating that ideology to then the Suns because they're out there winning big lumps or sums for every box in fact. Is it easier or is it a bit harder to convey that humbleness? No, because they know by being with me most of the life. Because my lads haven't done much schooling. I was the teacher, me, because I thought to myself in life, what you're learning in a school is one thing, but what you're learning in the real world is another. And you can have real world experiences, like some people go to school from four to 16, on to further education, and they're working for somebody else for minimal pay because they can't get a job with all these skills they've got because there's that many people to choose from out there with the same skill set.  The ordinary people, the salt of the earth people that goes on them shows, I've made those millionaires what they are, but they'll never tell you that. They'll never tell you that. On the working class man, it's not his fault. It's just how he's been programmed to do it from school. If his father's done it, his mother's done it, his grandparents have done it, he's going to do it. Well, like me, I come from a travelling family. There was six of us in an 18-foot caravan, what was six foot wide, you know, we had no room water, no electricity. We washed outside, and I think before we had a bath on a hot shower, I was 17 years old, you know, and we was used to that way of life, but I got to a certain age because I was to deal with the general public and knocked on doors for a living, and one old lady changed my life forever. I was selling some carpets door to door from the back of a vehicle, she'd buy them out of a warehouse and make a small profit on them by knocking on people's doors back in the early 80s. Freezing cold day. Come in, son, she said. I was about 12. Come in, it's very cold. I went into our drawer and she had a lovely big row in fire, a place just lovely and warm, cozy. I thought, why can't we live like this? I said, what is this? I put my hand on these radiator tight, I didn't even know what it was then. So why is that hot? I thought, why is the side of this house hot? But it wasn't, it was a radiator. But I didn't know, you know, just another machine I'd not seen. And I thought, I want to be warm in the winter months, I want to do this, I want to do that. And if she can do it, I can do it. So this is the norm. And I sat talking to that lady, she was about late 60s, for about 45 minutes. And she educated me so much to the point where I want to live like that. And you know what, guess what? In the next three years, I was living like that. So I guess then investing in your home, that's more of like a deep rooted, like sentimental investment, because from where you come from, having a nice home, making sure you live in a great place, it just makes you feel at peace. So yeah, I haven't got a nice home. You know, there's a lot of people got a nicer house than me. But it's how I like it. It's what I've done in my life. I'm going to look around it. It's my success story. And probably people think it was a toilet block for an house. But it's what I've done. It's warm. It's dry. It does its job. I've got a TV. It's forced stuff out the furniture shops and dispersal sales. But that's how I am.  He still goes in Aldi for his shopping. You know, he'll still do as does. You know, he still looks for a bargain. Only this morning, coming in Brighton. Because the fare was too small, the cab wouldn't take me to the train station. I thought, you know what? I'm going to walk. And guess what? The oven's open. But I wouldn't bother about getting wet. I'm still wet now. I thought, you know what? I thought, I'll walk.  Now anybody else? Oh yeah, it doesn't mind. Yeah, take me 30 quid from mile up the road. That's not how I think. Oh, I can't take you. He's looked at it. I can't get you all in here. There's two of us. I said, no problem. I said, see you later. Let's walk. I've got two licks. I think that is a perfect note for us to say. Thank you very much for sharing today.  But I think that you've shared so many insights and thoughts and experiences that people need to translate into every aspect of their life, in particular their finances, their investing, and their trading. That modesty, that idea of protecting yourself. Don't worry about what other people are doing. Learn for yourself so many things that I've just taken from like this short time with you. So I want to say thank you. I want to say thank you for listening to me. I don't think I'll tell you before or ago as a normal. Please. If you listen to all the people, nine towns out of 10, you won't succeed. If you get a feeling that's good, it suits you, wrong with it. You know, because at the end of the day, everybody's got an opinion. But if you have not got the mindset to appreciate what's in your pocket, you're going nowhere in life. Appreciate the job you're in. Do it to the best of your ability and get the best out of it on rewards are terrific, aren't they? I mean, you've ended the show better than I ever could have. So thank you very much. Cheers. Appreciate you. What an episode, Gabriel. We learn so much from great people with a lot of experience, you know, actually. I won't lie. My young self, you're really showing today that, yes, I just turned 23, but I'm not a big man. No way.  I think what I took from him was more about how much time he had to go through the losses and, you know, I've gone through similar things in my journey. So understanding that, yes, when you're back against a wall, it's a resilience that puts you through, which leads us on to the next guest, which was John. What would you say you learned from him? Oh, Mr. John Fury humbled us, didn't he a little bit? Oh, to the max. I mean, even myself sitting here is a guy that talks about personal finance on the Internet. Just a few lines from John Fury that I want to reshare, which was the idea of him and his son, Tyson, multi-millionaires flying on Ryanair. It's like, I know that, like, we know that it happens, but I really think that it resembles how wrong a lot of people have gone when it comes to money and how these extrinsic things really don't matter. And if the people with millions of pounds are acting in such a way, surely you can take a look in the mirror. I can take a look in the mirror. And I know there are extremes and there's also a way to, like, live a life with a bit of luxury. Of course, that's what we all want, but there were so many lessons that people can take listening to that and just realizing that maybe take a step back and live below your means. Those are the magic words that I'm going to take away from John. I'm also quite happy because we went three rounds with him just then back and forth and survived in the ring. So there we go. Yeah, definitely. And again, they all have similarities, even with our previous guests as well. With the trading side, it's all about being resilient, always going through and staying disciplined, whether it's bot-seeing or in the trading markets. So it's great that there's similarities between everything that all of our guests have said. And they all watched previous episodes and referred back to, so it's great, it's working and they're loving it. I mean, it just shows that with trading and with life, there's these core principles you need to live by and then our guests come in and they sprinkle a little bit more of something different here and there. So I'm loving it and that makes me so, so excited for what we've got coming up next, Poku. So who's fast on the show next time? Yeah, Nets actually, the one in early technical, who are Patrick Monagly, who's actually managing multi-million dollars worth of capital. And I'm gonna learn a lot because again, to start with that capital, the discipline, the mindset, the strategy has to be at a different level. You know, this ain't just retail. This is big. This is big corporate stuff. So I won't deny it. I would love to learn from him. I can't wait to have him in the hot seat, ask him all the questions. Who else has got Nets? We're also then gonna have Jão Paulo Pacifico. I'm pretty sure that I got that right. And he's flying in from Brazil. He's the CEO of Impact Investing at part of the Gaia Group, I believe. And he's also one of the top voices with almost half a million followers on LinkedIn.  Someone with a positive, you know, attribution towards the world, towards nature, towards our society, and towards sustainability. So I think that's a really important lesson and I hope people tune in because I know that we're gonna learn a lot in that lesson. Definitely. I can't wait.  I think a lot of people here thinking all about money, but no, you also can find ways to make money and also impact the world. So definitely that'd be great to learn from. They're not mutually exclusive, are they? Not at all. Anyway, time to trade thoughts. Yes, Poco. That's good.


In this lecture what we'll be doing is taking a look at some of the correlations that exist for various shapes dealing with natural or free convection. So what we'll do, we'll begin by looking at the case of an isothermal surface. So that would be either a plate or a vertical cylinder that is at a fixed temperature. And if you recall from the last lecture what we said is the analytical techniques can only take us so far. And quite often when we're dealing with natural convection and we're dealing with either turbulent or complicated geometries we end up having to use empirical relations. So that's pretty much what we'll be looking at in today's lecture. But the relationship that we often use is the following. So what we have here, we have the new salt number expressing the convective heat transfer in any of these natural convection cases. We have a length scale L and then finally what we have in the denominator with our new salt number is the thermal conductivity for the gas evaluated at F. So wherever you see the subscript F that is referring to properties at the film temperature and the film temperature is the wall temperature plus the ambient temperature outside of our heated object. So outside the thermal boundary layer divided by 2. And that's a common approximation that we saw for force convection boundary layers as well. Now typically what we have here in this part of the equation we have the Grashof number, Prandtl number. That combination if you recall from the last segment we said that that could be clumped into what we call the Rayleigh number. Now typically what we have here, we have this coefficient M in the equation as well. And we have this value of C and I'll talk about that shortly. But to begin with let's take a look at the coefficient or the power M that is in this equation. So typically M will be one-quarter for laminar boundary layers on our heated vertical surface. So for free convection the boundary layer if it's laminar M would be one-fourth. Now that is typical and remember we said that the way to determine whether or not we had laminar or turbulent depending upon the Rayleigh number or the Grashof times the Prandtl number. And if it was less than 10 to the 9 that is what we said would be a laminar boundary layer. Now if you have a turbulent boundary layer typically M would be on the order of one-third. And you may find correlations that are using the same sort of relationship but M does not meet that one-quarter or one-third for being a laminar or turbulent boundary layer. So just be aware that this is typically the case but sometimes there will be correlations that don't exactly match up to this. Now for turbulent remember we said that the Grashof Prandtl or the Rayleigh number that would be greater than 10 to the 9. And I should put an approximate because we're on the order quite close to that but whenever you're dealing with transition that number could be plus or minus a little bit. So that is a relationship that we sometimes use for natural convection. I should get rid of that because that might confuse you. It was Grashof Prandtl that we had there for the and then that is expressed as we said Rayleigh. Okay, so that is an expression that we will quite often find for free convection on a vertical surface. Now I had mentioned that you can use this for cylinders. It's under certain approximations that you can use this relationship for vertical cylinder. So we can treat a vertical cylinder as a flat isothermal plate if the ratio of the diameter to the length of that cylinder satisfies this relationship here. And so what this is getting at it's basically saying if you have a very very large cylinder and the length would be the vertical here, the diameter would be there. But if you have a very very large cylinder with a large diameter and you zoom in on what is happening in the boundary layer, if we have this requirement here satisfied then we can basically approximate the boundary layer as being that just over a plain flat plate and consequently we can use the flat plate relationship. So essentially what we're saying is that the curvature would have to be not that significant for the cylinder that we're looking at and would have to satisfy the requirement that we have there. So what we're going to do now, let's take a look at some of the correlations. So we'll begin by looking at the values of C and M for the isothermal vertical flat plate. So we'll begin by looking at the case of a laminar boundary layer. And remember what we're looking at here is Nusselt number which is Grashof, oops I forgot the C, it would be C Grashof-Prantel to the power M. So the value of C if we have laminar is 0.59 and again this is going to vary, you can look at any heat transfer book and you might find numbers that are a little different from this. And because what has happened, people are fitting their experimental data to this functional fit or this functional form and so there could be slight variability. If you have turbulent flow, our coefficients are going to change and we already said that M would be one third but C would be 0.10. So those would be the values of C and M for a vertical flat plate in the case of it being isothermal, so constant temperature and there are a couple of other relationships that exist and I will provide those now. So it's a one correlation that this would be a single correlation and then this would be laminar and turbulent. So that is one single correlation that would cover both laminar and turbulent and here you can see I have replaced the Grashof-Prantel with the Rayleigh number in the expression and the properties would be evaluated at the film temperature. Now taking a look at a correlation that works only for the laminar flow regime and so we have that correlation there. Now which one would you use? Well it depends on if you have a turbulent Grashof-Prantel number, Rayleigh number greater than 10 to the 9, if it's less than 10 to the 9 then obviously use the laminar relationship because that will give you a more accurate result and it is interesting to note in the first equation what we have is Rayleigh number to the 2, 6 which is Rayleigh to the one third which was the value M equals one third that we said for turbulent flow and then in this relationship here we have Rayleigh number to the one quarter and that would correspond with our M equals one quarter. So it's consistent with the relationship that we saw earlier, the one with C we had Grashof-Prantel to the M which is C Rayleigh to the M. Essentially it's the same thing but you can see there's a bit of a correction here for Prantel number effects and that is what is in the denominator in these two relationships. But those are expressions that you can use for isothermal vertical flat plates and it also works for a cylinder provided that the curvature is not that strong in the cylinder and we saw a relationship that enabled us to determine that. In the next segment what we'll do we'll move on to not isothermal but we'll be looking at constant heat flux relationships for the vertical flat plate.


Coming to you from our GIS studios, I'm Nisha Charles and this is your Midday News Brief. Consultants with Environmental Solutions Ltd are on island to help St Lucia develop a safe schools policy as part of the model safe schools program which is being funded by the Caribbean Development Bank and implemented by the Caribbean Disaster Emergency Management Agency, SIDMA. The program was designed to enhance the capacity of the ministries of education in Antiquan, Barbuda, Barbados, Dominica, St Kitts and Nevis, St Lucia and St Vincent and the Grenadines to incorporate and mainstream comprehensive disaster risk management considerations in education, sector policies, planning and operations. The consultations were part of a broad-based stakeholder consultation this week with members of the National Safe Schools Committee which include education officers, the police and the Ministry of Health. On Wednesday 22nd May 2019, St Lucia welcomed a high-level delegation from the Overseas Private Investment Cooperation OPIC, the United States Government's Development Finance Institution. The delegation was led by the OPIC Acting President and Chief Executive Officer with the purpose of exploring investment opportunities in energy and other critical sectors. Accompanied by Prime Minister the Honourable Alan Sharsney and Cabinet Ministers, the delegation visited specific sites airmarked for development including the proposed site for the Southern Port of Newport, the Castree Sport and the Cul-de-Sac Bay. One of the projects was a beach beautification project at Cicero Beach in Cul-de-Sac which was undertaken by Buckeye Terminal. The project encompassed a volleyball court, a small gold soccer pitch and a concrete cricket pitch for sports enthusiasts. The goers were gifted eight outdoor concrete tables and seats along with two barbecue pits. The beach has also been equipped with toilet facilities and receptacle bins. St Lucia and the Republic of Cuba have renewed its cooperation agreement in the health sector for another two years. Cuban Ambassador to St Lucia, His Excellency Alejandro Semancas-Marin and St Lucia's Minister for Health and Wellness, Senator the Honourable Mary Isaac, recently signed the cooperation agreement with the aim of further developing St Lucia's health system. The renewal of the agreement is expected to extend the presence of the Cuban Medical Brigade in St Lucia. And that's it for our midday news brief, thank you for tuning in.


Good morning, good afternoon and good evening. It is a great privilege and pleasure for me to participate in this FTA science conference and to share some of my thoughts on reforestation as a nature or biodiversity-based solution. During the annual World Economic Forum meeting in Davos earlier this year, the forum launched their initiative to plant one trillion trees worldwide with the goal to restore biodiversity and fight climate change. And that was of course not the first or the last tree planting campaign. There have in fact been many tree planting and forest restoration initiatives at both the national and international levels in recent years. For example, the trillion trees is a joint venture between BirdLife International WCS and WWF with the goal to protect and restore one trillion trees by 2050. And the hashtag team trees is another one that has been quite successful and well supported by some famous people including Elon Musk. Given the high profile of many of these campaigns, it is not surprising that there have been some pushbacks. People are starting to question whether the climate mitigation benefits of tree planting may have been overstated. And some others have raised concerns about the constraints and tradeoffs of indiscriminately planting trees everywhere. While these debates are happening in the popular media, a parallel drama has been unfolding in the scientific domain. Most of us would have read this paper published in Science last year, which raised several eyebrows. The bone of contention comes from its rather audacious claim that tree restoration is the most effective climate change solution to date. For better or worse, that study and the headlines and sound bites it has generated have had a strong influence on policy and decision-making across different segments of society worldwide. Suddenly, everyone is jumping on the tree planting bandwagon. Now, I think all of us here understand that even if a parcel of land is biophysically suitable for reforestation, there often are many other context-dependent factors beyond biophysical suitability that need to be considered for a reforestation project to have any chance of long-term success and to deliver its benefits to society. For example, these so-called degraded lands that are being targeted for reforestation may in fact be used by local communities as smallholder farms or home gardens. Allocating or appropriating these lands for reforestation efforts could compromise the livelihoods, food security, and land rights of these land users. Furthermore, the long-term security of carbon stocks within regenerating or reforested lands may require constant site maintenance and protection, as well as some degree of ecological resilience against threats such as tree directs, logging, and forest fires. These considerations of land use, operational, and financial constraints can limit the potential feasibility and success of tree planting and reforestation projects. To illustrate these impacts that these constraints may have on reforestation and its efficacy as a climate solution, my team from the Centre for Nature-Based Climate Solutions at the National University of Singapore recently conducted an analysis for the region of Southeast Asia. As a baseline scenario, we first mapped the biophysical suitability of land for reforestation based on aboveground biomass, the potential for natural vegetation, and by excluding obvious unsuitable land use or land cover, such as industrial agriculture, urban areas, or bare limestone. We find that 121 million hectares of degraded forests, peat swamp forests, and mangroves in Southeast Asia are biophysically suitable for reforestation. We also calculated the climate mitigation potential of reforestation on these lands based on the rates of aboveground carbon sequestration and the avoided emissions from further forest degradation. And we find that the reforestation of these lands could contribute to climate mitigation at a rate of about 3.4 gigatons of carbon dioxide every year from now through 2030. Next, we applied different layers of land use, operational and financial constraints that may need to be considered when implementing reforestation projects on the ground. We find that the most limiting scenario would reduce the amount of lands for reforestation to less than 8 million hectares across the region. Most of these feasible lands would be located in parts of Sumatra, West and Central Kalimantan, and Papua. And in this scenario, reforestation would remove less than a quarter of a gigaton of carbon dioxide every year. Now, of course, a wide range of other environmental, sociocultural, and geopolitical factors not considered in this study could also influence decision making during different phases of the reforestation process. The intent of our analysis is not to produce precise estimates of the climate mitigation potential of reforestation, but rather to illustrate through a scenario analysis how this potential can quickly diminish when such constraints are considered in the Southeast Asian context. In other words, what our analysis shows is that when we look carefully at reforestation through multiple layers of practical considerations and constraints, we may find that only a fraction of the climate mitigation potential of reforestation is actually achievable. The barriers to reforestation we identified are not insurmountable. With strong government commitment, smart policies, and financial support from private industries, a reduction in the opportunity costs of reforestation projects, which is a major constraint, can be achieved, for example, by transitioning smallholder farms to an agroforestry system. We find that even a moderate reduction in these opportunity costs can almost double the realizable climate mitigation potential of reforestation efforts. Reforestation is a hugely important nature-based solution, not only for climate mitigation, but also for the multiple co-benefits it provides, including biodiversity conservation, clean air and water, and poverty alleviation. Indeed, reforestation is embedded in key international initiatives, such as the sustainable development goals, the bond challenge, and the IEG targets. Nevertheless, our study suggests that a more complete and nuanced consideration of both the potential and the limits of reforestation as a climate solution is needed to inform climate policies and decisions that are scientifically sound, economically feasible, and socially acceptable. Thank you very much for your time and attention.


Frontier Fighters. Frontier Fighters. Memorable moments from the lives of those who gave us our frontiers. One of the most intensely interesting and thrilling chapters in the annals of American history is that of Alaska. The Land of the Midnight Sun. And to those men who gave to the United States that new land, we pay tribute in this episode. Our story opens in the year 1867. In a rather dimly lighted room in Sitka, a certain transaction is being brought to a close. In the room are several Russians and several Americans. The scratching of a pen is the only sound for a moment. Then? There, gentlemen. The United States has purchased Alaska for $7,200,000. A heavy price? Yes. But the deal is finished. There is no longer any need for us to stay here. Good day, gentlemen. We hope that your government will not regret the purchase. So do I. Goodbye. Well, that's that. $7,200,000 for this. Snow and ice. I don't know what Sewed was thinking of. What will the American people say when they learn of this? The American people heard of the purchase of Alaska. With incredulous stares, they read their newspapers. One day in the lobby of Congress. What sort of nonsense did Seward do now? Over $7,000,000 for... Well, for what? I'll tell you for what, for a country of ice and snow. Why, do you know that there are only 30,000 people up there and two-thirds of them are Eskimos and other nations? It's outrageous. I am going to fight this thing. Now are you spiting something that's already gone through Congress' room? It seems that the United States will have to put up with Seward's folly. Seward's folly? Well, I believe you hid on the name for this senator. Seward's folly. Seward's ice box. Maybe we can get our money back by selling ice. That's the only way we can possibly even things up. I imagine the Russians must be laughing up their sleeves at the stupidity of any nation willing to buy a bar and waste such as a lot. $7,000,000. Well, I guess we'd just better forget about it last year and try to hush the thing up and... Oh, here comes Seward now. He doesn't seem put out about it. Wouldn't do for him to admit a mistake. Good afternoon, Mr. Secretary. Good afternoon, gentlemen. It's been nine days, isn't it? Very fine. Warm, not too warm, and not too cold. Cold? Why should it be cold in October? It's always cold in some countries, Mr. Seward. Oh, I see. Alaska, for instance. Yes, Mr. Secretary. We can't keep quiet about it any longer. Our constituents won't let us. No. Well, what's wrong with Alaska, gentlemen? What's good about it? That'll take a shorter time to tell. You gentlemen seem to forget that we bought the Louisiana Territory against our position. No comparison. Louisiana was rich in natural resources. Heaven only knows what's in Alaska. Ice and snow in Eskimos. Perhaps, Mr. Secretary, you plan to do something with them. Gentlemen, I've argued, slept, bought and bought Alaska. I think, Congressman, that you hit the nail on the head when you said, Heaven only knows what's in Alaska. Well, we're going to find out.  I'm not sure what the purchase of that iceberg will go down in history as Seward's folly. Newspaper cartoons of the day reviled the purchase. President Johnson and Seward were openly laughed at. Even foreign countries were laughing at the gullibility of a young nation so foolish as to take a white elephant off the hands of Russia. Then, in the office of the President, Secretary Seward speaks to President Johnson. But I tell you, Mr. President, it's not folly. William, I've had the utmost faith in you. I sanctioned that purchase and sanctioned the spending of over $7 million. $7 million, Seward.  We've made a mistake, William, a ghastly mistake. Even you think that? How can I help but think it, William? What's in Alaska? What could possibly be in a country of ice and snow? We'll never know until we invest in it. Invest-a-gate, invest-a-gate. How are we going to do that, Mr. President? The pioneer spirit of the citizens of this country sent them out to California. Into the Northwest, the Southwest. What's to prevent them from going into Alaska? Lack of incentive. To go into a country like that? They just won't do it. We can try. All right, William, we'll try. And I pray that someday time may vindicate our judgment. And perhaps Alaska will be our last frontier. But the passing years saw neither President Johnson nor his Secretary of State esteem for having bought a worthless territory. More and more was the name Seward's Folly on the tongues of the people. The $7 million spent seemed greater and greater. Few settlers went to Alaska, but suddenly in the year 1896 in Alaska, a placer miner on the Klondike was panning for gold. Ah, it's no use, Sanjay. If there's gold here, it must be 50 miles down. We're going back to California. Mr. J, we can't. You don't want to stick out another winter here, do you? The only thing we can do, we can't go back. And we can't stay here in this government-seeking country. I should have known better than to come up here. Seward's Folly, Seward's Icebox. Everybody's right. The United States took a good skin on this deal, and... Jed, what's the matter? Nothing. I guess the sun was just getting in my eyes for a minute. But I thought it... Well, you thought what? Hand me that pan. Jed, did you see something? I don't know. I thought it did. Maybe again it didn't. Anyhow, give me the pan. Thanks, now. All right. Jed, is it... Angie, look, is it... This is a yellow mantle. Quick, quick, the big pan. I'm going out the middle of the creek. Well, you can't wait out there. It's cold now. No, no, Angie, this is gold. Give me the big pan. I'm going out there. Now, look out. Angie, look, look. It is gold. Pans of it. I can reach down and pick up pans first. Gold, Angie, gold. Thousands of dollars worth of... Jed, I'm going out there to help. Oh, we're red. On June 17th, the Seattle Post-Intelligencer received the startling information that the steam of Portland was arriving with a ton of gold. The news plunged the nation into wild speculation. A new El Dorado was spoken of. From all parts of the country came men, women, even children. Alaska was their goal. The words Seward's Folly were forgotten in the mad scramble to get to this new land of fabulous wealth. And every corner could be heard words similar to these. I'm going to Alaska. They say the gold's just broken down the river. Tim and I are leaving this afternoon for Seattle. We've taken the boat from there to Alaska. Sure, sure. Every bit of it's true. One minor took out $8,000 worth of gold in a half a day. Alaska's the place to go. Seward's dream of settlers for Alaska came true. Each person who went dreamed of wealth, untold fortunes hidden in the bountiful earth of the new El Dorado. But before they got there, there were hardships. Hardships such as they never knew existed. And along the trail. How much farther, Ed? I don't know. But look up ahead. I can't. The snow's blinding me. My feet are worn to ribbons. Pie. Puts up there. The biggest killer of them all. Kill could pass. Kill could pass. And more what they said about it here. Oh, Mother Nietzsche sure got her gold protected up here. Well, are we going on or stopping? Look. Look. They're taking another grave over there. Some other poor devil's got his. Yeah. They're taking gold. Well, I ain't stopping here. I come this far, and no pile of snow and ice is going to stop me from getting my steak and taking it easy for the rest of my life. Come on. The kill could pass took a terrible toll of human lives. Daily, the long line of gold rushers became thinner. Those unable to stand the rigors in heartbreaking trials fell. But those unnamed heroes went on. Not all of them went for gold. Some sought a land where they could start anew. Some, noticing the abundance of fish, decided to give Alaska a new industry other than gold mining. Of did did. Their courage will always be remembered. They fought desperados who sought to rule the territory by guns and killings. But law came to Alaska. The bad men of the Klondike were driven out or killed. The territory prospered, and then, just a few months before the year 1906, scenes such as this were taking place in the principal cities of Alaska. Friends, friends, in just a couple of weeks, we're going to be off to Washington, to the capital of the United States. We're going on an important mission, and I guess you know what it is. We're going down there to make them give us representation in Congress. It's about time that Alaska was recognized as part of the United States. It's about time we had something to say in the governmental affairs of this country, for we're Americans. Citizens of the United States, every one of us. We appear in the North Country, but we haven't forgotten the days of 1906 when we made Alaska over into a territory to be proud of. When we made it a part of the United States. And in the year 1906, Alaska's dream came true. She was given representation in Congress by a duly elected representative. In 1912, an act was passed giving Alaska limited territorial government. The first territorial legislature convened March 3rd, 1913, and the first law passed gave franchise to women voters for seven million dollars in the faith of a few men the United States bought for $67 million worth of valuable fur. A fish industry whose value up to 1924 was $1,619,443. And mineral resources totaling in value up to the year 1927, $586 million. So for those $7,200,000, the United States had realized thus far a profit of $687,419,443. But more than that, we have on record the glorious faith, courage and vision of those men and women of Alaska who were true frontier fighters.


Hi, I'm Pedro Diaz from the Mental Health Recovery Institute. Workplace mental health is a growing concern for many managers. Many of the traditional approaches to addressing mental health at work are simply not working and, in some cases, are even making things worse. In this video series, The Seven Pillars of a Mentally Healthy Workplace, we take an honest look at seven principles or seven areas that, if addressed, can minimize the impact of mental ill health at work, and create a healthy and safe workplace culture that performs really well even under high pressure situations. Today I will be talking about pillar number two, organizational plasticity. Pillar or principle number two, organizational plasticity, help us managers like you address a toxic fume that often creeps into teams inadvertently, the toxic fume of the fear of making a mistake. You see, managers are respected to avoid risk at all costs these days, and that means that they are looking for a definite process that will deliver a definite result. But when it comes to mental health, there is no definite solution for all employees. There is no one-size-fits-all process that can be followed. Unfortunately, when someone becomes mentally unwell at work, most workplaces tend to apply just two default options, either send a person to an EAP service, that's an employee assistance program, or send them away or leave. While these two options are a good start and they should be part of your toolbox, they're not enough. And the underlying message the staff can hear is, go take your problems elsewhere. Now, I know that's not what is meant, but that is what many people will hear. In our mental health workshops for managers, we educate participants about the concept of frames in mental health. A frame is a specific way that a person makes sense of their worldview, how they see life. That means that they come to you with an understanding and an explanation of what life is about for them, what is happening for them, and what needs to be done that might be completely opposite to what you think. Our workplaces, and indeed our society right now, favours the medical and psychological frames. That is why when someone is unwell, most workplaces encourage the person to seek medical help or counselling, usually through EAP, but not everyone views mental health through these lenses. And this is important because your colleague is going to access the help they need through their preferred frame, not yours, and if they are to recover, they will do so by taking steps through their preferred frame. If we as managers or as organisations push our own frame onto the person, the likely result will be one of conflict, resistance, and in some cases complaints of harassment and bullying. So what can we do? Firstly we need to find the person's frame, their preferred explanation of what is happening. Once you know their frame, you know what motivates them. Now you are ready to elicit solutions from them and get better outcomes. We talk more about how to do this in our leaders' masterclass. And what can we do as organisations? We need to be willing to be very flexible in our approach and provide a range of possible solutions and supports for people to access. This can be difficult for managers and when faced with a complicated mental health situation many fill out of their depth and that is to be expected. After all, managers are trained in management, not in mental health or psychology. Why would we expect them to be experts in this area? But because of that unknown, more often than you think, managers hope that their problems somehow will go away and when it doesn't they do what we all do in difficult situations, overreact and become rigid, even controlling. Why? Because we fear making a mistake that will hurt our reputation and we become defensive, it's only natural. But instead of becoming very rigid in our approach, we need to do just the opposite. Open up to alternative solutions that are chosen by the individual. These are the ones that are more likely to get the best outcomes for the person involved, the whole team for you and for the business. How else can we demonstrate this second pillar, organizational plasticity? Well make sure that you engage your team in coming up with a variety of honest and truly flexible arrangements that encourage well-being in your teams. This can be a very useful and healthy exercise for all, especially if everyone can benefit regardless of whether they have a mental illness or not. Of course, this doesn't mean that anything goes, we understand that these authentically flexible arrangements will out of necessity vary from one organization to another. But these are a great start. The other thing you can do is to make sure you get to know, sorry, to be known by your team as someone able and willing to adjust and adapt as necessary. Someone able to let go of old ways and embrace new ways. This will build the trust you need to build a great team that has fun and enjoys good mental health, while also performing at high levels. And there you have it, pillar number two, organizational plasticity, address the fear of making a mistake that creeps into teams when it comes to mental health and encourage authentic and flexible arrangements as a way to build trust. I hope you have enjoyed this video. I wonder if it would be okay with you that I ask you that you share this video with other managers or HR and WHS professionals that you think might benefit. Thank you and goodbye for now.