The Tom O'Brien Show is produced every business day. Tom takes your phone calls toll-free at 1-877-927-6648 internationally at<PHONE_NUMBER>. Let's go to Phil in Puerto Rico. Hey, Phil, what's going on? Hey, Tom, doing great. Just wanted to thank you guys and the whole crew, the best content on the Internet. Really appreciate everything you guys are doing. We appreciate you growling a problem with us out here. Phil, how did you find us? I just typed in live training in YouTube one morning. Cool. I was looking for any type of live training room you guys came up and the kind of quality when I see it. At least I like to think so.  I appreciate everything you guys do. Welcome to the Tiger family. We appreciate you growling a problem with us. My pleasure. Now, Tom O'Brien. Well, welcome, folks. This is Tom O'Brien of TFNN. We go five days a week. We go seven hours a day. We go 24 hours a day on the Internet at TFNN.com. Always remember, folks, whatever you think about, you bring about whatever. You focus on growth so everyone's having a great day, safe day. It's making a great week, folks. To master love, you have to practice love. The eye of relationship is the whole mastery. And the only way to reach mastery is with practice. To master a relationship is therefore about action, not about attaining knowledge. Mugged wise, let's take a look at it out here. We have it out. Industrial's down 530. Nasdaq's off 241. S&P's off 82. Gold. Gold contract up 7 bucks straight in 1838. We've got silver down 47 cents, $23.85 an ounce. Light suede crude up 227. 82.98. Notes and bonds. The 10-year notes up 5 ticks, trade in 128.15. 30 a bond down 4 at 155.25 and King dollar. King dollar's up 286.6, trade in 95.9.28. Yours at 131. Yen is at 113. The British pound's at 134. The one U.S. dollar. You know if it doesn't matter what market you look at folks. The bottom line, what we had out here today is this. The S&P had already done a 1 to 1.618 on the way down. Ended up doing a 1 to 2 ABC structure down. Waiting for the Nasdaq. The Nasdaq did a 1 to 1.618. Bottom line, you get the bells. We'll see where this baby ends up going. Let's get over to our man, Mr. Dave Mazder, as we do each and every other Monday at the first segment. Dave is the head of product and a managing director at Direction.com. Direction shares and this couldn't be a better time to look and having a two-way market folks. It's hard to even comprehend that actually the small caps are up. The IWM rejected 191. It's trading 198. Dave Mazder, welcome back. Hey, happy to be back. Yeah, what a day to be back. It's a beautiful thing, man. So, you know, when you look at Direction, the bottom line, you guys have been in the cutting edge for a long period of time. It's been a long time since we've had markets that go down. It's pretty interesting here, you know, no doubt that we've had the volatility. So let's talk about, you know, I think we should talk about some of the bear funds. I mean, I'm looking for a bounce now, but the reality is that, you know, when you get a good downdraft like this, it doesn't get over in a day. Let's put it that way. The tops and bottoms are processes, right? Not points in time, which I know you and your viewers know well. What I want to note is to your point on the bear funds. It's a fun we don't talk about very much. It's the ticker is SPDN. This is an inverse one times. So it's not a double or triple. Which is great. Yes. It saw the largest ever inflows and its highest ever trading volume in its history on Friday. Today again, it has had off the charts volume compared to its history. So obviously that means people are coming in looking for hedges. Yes. What I find notable there is that it's not necessarily people looking at SPXS, which is the triple bear fund. Certainly had a lot of volume. That's a much larger fund. But people looking for that hedge just on the one time side. That was notable. But on the flip side, and now I'm going to switch gears and talk about bull fund for a second. SoxL, which we talk about all the time. Last week, last week, saw its highest ever weekly inflows. That to me was a bit shocking. So I think the bulls are not going to go down with a real fight here, especially when thinking about this rotation away from the tech into the value space. But certainly today, red on the screen nearly everywhere, small caps to your point are trying to make a bit of a rally here. This is pretty cool, Dave. I love having you on. But that information there in general, being a contrarian, it's great information, man. That's the bottom line. You know what's really interesting, too, is that a lot of the tag is out here. I'm telling you, man, you got to love markers. I'm getting text in here that how much we had trade has evidently come into the LABU, the biotech bull, which has been down on a big basis, but evidently they're very happy right now because they just caught it as they get out of 15 bucks. I mean, it's down from 66, but the bottom line is that, you know, this is when, if they understand what your funds are all about, it's really cool, man, that we know that when you have very large moves like this, folks, okay? You know, you have to have been in a couple cycles, too. That's the reality. Do you know what I mean? These guys that, so don't, if you're new to this market, don't go into the LABU, I'm not saying that just as, we had a trading room, folks, and they're pretty sophisticated. That's the bottom line. But isn't that cool, Dave? I saw it coming across, and so I was like, okay, and they actually know fundamentally a lot of those stocks, too. Do you know what I mean? So I was like, okay, you know, that at one time, you can only go so low. That's the reality. Yeah, and biotech's been a space, it was just really hammered last year, other than maybe, you know, a few of the modernities of the world and BioNTech would have you, but really, space has been our favor. We certainly saw LabD, which is the bear fund, you know, be used, and people are looking to maybe play that bounce back. The other couple other funds I'll note that had seen some uptick in volume are the pair WebL and WebS. Okay. This is the Internet Composite. It's Dow Jones Internet Composite Index, excuse me. It's a bit of an old school index, right? It was created in the late 90s for, quote, unquote, the internet, but a lot of the names in here are many of your fang names, plus your sales forces, some of the cloud names. Just a space that's got them beaten up really hard, some of the first to perform poorly in this, but both the bull and the bear there have seen an uptick in activity, and we're seeing inflows actually onto the bear side of that fund today. So to your point, the beginning of this chat, it's really a two-way market here, and I think traders in particular should be able to keep that head on a swivel here because there's going to be opportunities. To me, you know, this isn't an idea where let's just go to cash and see what happens. We have the products, and again, for people with the know-haul and the ability to monitor their portfolios on a daily basis to take advantage of these opportunities, you know, in areas that either have been on a favor or simply to take the inverse side of what had been working.  I know it's very hard to step in front of anything, but just do your homework, go through, go over to our website at TFNN, hit the direction banner. We haven't had a real pullback since 2006. Dave, his team has a lot more ETFs now that, number one, you could stay in a position, you could hedge it just as the first S&P and no tax implications. You know, there's a lot of things you could do. So please come over here, do some studying. It's well worth it. Dave, this is awesome, man. One more question.  We do, yes. Take a look at that. Which is huge, no, totally. Thanks so much, man. Have a great one. Have a safe one. Not soon. Thank you. Stay right there, folks. Come right back. Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help. Tom O'Brien has been successfully trading markets for over 30 years. A frequent contributor to TD Ameritrade Network and CNBC, Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you. Tom's Daily Market Newsletter, Market Insights, is published every morning when the market's open to give you the competitive informational edge you need to succeed. These newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio. Get Tom O'Brien's newsletter, Market Insights, today, and try all of our products and newsletters 30 days risk-free with our money-back guarantee at TFNN.com. TFNN, educating investors. What's separating you from the most successful men and women on Wall Street? That's right. Information. Having all the information gives us the perspective we need to place the right trades at the right time. The TAS Profile Scanner is the premier market-profile-based scanner. Powered by its acclaimed TAS proprietary algorithms, this feature-rich scanner instantly filters over 2,500-plus global financial markets such as stocks, ETFs, commodities, futures, and forex. This powerful suite of tools leverages instant trade filtering and strategy formulation to show you emerging trades before they happen.  Level the playing field with the TAS Profile Scanner, which you can find under the Services tab at tfnn.com. Sign up today! Live every market day from 8.30 a.m. to 4.00 p.m. Eastern. For free! Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at tfnn.com or on TFNN's YouTube channel and become the investor you were born to be TFNN Educating Investors. Toll Free at 1-877-927-6648 Internationally at<PHONE_NUMBER> Welcome back folks to Dow. Dow Industries right now, down 409, you get the NASDAQ 18, down 139, SAPs are off 56. It's hard to believe, I'll tell you, it's wild that the small caps went positive first folks, okay? We're gonna get a heck of a bounce here. You know, we should. I mean, you know, the IWM is down from 244, hit a low today at 191.  The time in the trade basically exercised, okay? So, this is what should shake out, though. So, if we take a look at the SPI first, what you have is this. The SPI did just over a one to two ABC structure on the way down at 420, okay? When you've heard me already, if you believe in Fibonacci expansion contraction theory, the way that it works, anything over a one to 1.618 ABC structure down or up is an immediate change of trend. And I've been doing this long enough that, and I've stepped in plenty of times that you think the end of the world is gonna be here, and guess what, somehow it just happens. Now, it happened today, it doesn't necessarily have to happen within that day, but I can tell you that most times, no, every time, I've done it at least five or six times, it's done it within 24 hours. That's the reality, okay? So, now what you did is this. Okay, so now we came down hard. What I expect you're gonna see now is that you're gonna get a bounce. Now, the way this works is that the S&P, first off, well, let's do it this way, you can just take the lows, we're at 430, and you probably get a bounce to 450. That's one way of looking at it.  And this is where, what happens in fast markets, folks, is that Fibonacci sequence, for some reason, works like just unbelievable. I mean, when there are fast markets, it works just in an unbelievable way. So, when I say that, you know, I'm looking at 450, well, check this out. A 50% retracement gets you 447. Now, I expect what we're gonna see is this, is that as we go to that 457, you are gonna see another contraction of volume all the way up. If that's what we get, you gotta protect yourself, you gotta hold all the wax, because the larger picture here, we're not done. This is just the beginning. You don't get volatility like this and it doesn't just go away. You're talking about a two or three month deal here. So, first leg, I'm figuring you got 460. You get 30 S&P points on the way up, right? We don't go look at the NVX100, the three cues. You take a look at the three cues, three cues did, okay, so it's pretty clear. What was interesting this morning is that as the S&P had done the one to two, what had happened is that the N cues hadn't finished a one to one point six, one eight. So, for all you bulls out here, it's great that it did. That's the bottom line. I know it sounds insane, okay, but it's great that it did. Okay? The reason being is if you want a real bounce, that's how it works. So, what happened here, the N cues, that ABC down was 13,750. We went to 706. Spike down, and that's what you need. And what you'll also need, you'll watch this. This is really cool. So, if you're watching Tiger TV, and you're watching the futures, do you see how the last real selling, you know, down to the very bottom, see how those buyers are so small? They kept selling down, but the amount of selling wasn't a monster. The monster is when we were at 14,032. So, that thing actually went down almost, yeah, almost another 290 points, not with a huge amount of volume. That's what you like to see. And bottom line is that the NASDAQ itself, the NASDAQ dip, we're going to have a flat market coming into the clothes and blow everyone's mind. That's how these things work though, man. That's the bottom line. So, oh, I know. Okay, so the cues, as to where they're going to bounce, we take a look at the cues. Cues came down to 334. I expect the cues to get all the way up to 378 somehow. That's ICE. You know, I've had a lot of questions before. What's ICE? That's a breakdown. And then if we take the... What's going to get interesting about this is that if you actually take the sequence, that is saying that the cues are going to bounce like a 78% of the last leg down, which is amazing, right? That would be amazing if it happens. But as you bounce and you go up in the light of volume, that's what you're looking at. Now, let's go over and take a look at notes and bonds. We have the Fed meeting, right? And if you don't think that this spooked the Fed, let me tell you something. The Fed put is still here. And it's almost like, okay, how did this work that, you know, the Fed's ready to raise, raise, raise, raise, raise, raise. And guess what? Bottom line, all of a sudden, in January, the statistical number, folks, the market's never been down this quick in a January period. As far as you're going back, okay? So the Fed's going to know that, too. What does that set up? That sets up, you know, we look at this 10-year right now. The bottom line is that even when the market was down, 10-year couldn't hold price. It's like, okay, it looks to me like we're at 1.74, that the rate hikes in general, I never went for the aspect, you know, there are people out there saying it's going to be eight hikes in a row. It's like, what, are you crazy, man? Okay, it's not going to be six hikes, and it's not going to be eight hikes, okay? Somewhere, can they do, you know, a quarter each for four times in a row? Yeah, they can. They can even push the five. This market's too fragile. They kept it up for 12 years. They're going to have to slow it down. That's the reality. And then they're going to have to basically figure how to relate to the public. But watch how this goes. Think about this for a second. Relating to the public, relating to you and I about a flip again, do you think people are going to turn around and say, oh, no, no, no, you've got to raise the rates. You've got to raise the rates. It won't happen, folks. It's not even close. The good news is that they're going to have to go slower and they're going to have to stretch it out longer. Because what ends up happening is that people will get used to lower markets. You get a bounce going. They can take some off their portfolio. The larger problem is going to be folks, unfortunately, that haven't seen a pullback. That no doubt is a problem. Because when we get this bounce, I expect it to be going to be a good one. But then that next leg, that next leg could get nasty. So let's take a look. And we'll put this on a little longer term just because you can set these up prior to where they go, particularly on something like this. Okay, so the spy went back to May of 2021 today. We have volume. It saved itself. Yeah, we're going to have to see what kind of counter trend bounce we get. That's the bottom line. Yes, and listen, folks, inflation is not going away. We are going to have inflation here, whether it's two or three years. Katie, what I don't even understand, how can these people get on that have good education and think that it's going to change in six months? They have evidently never had a business. When prices go up, folks, okay? Prices go up. Everyone's going to say, okay, I'm going to pull my prices back 20%. It's not even close, man. We're in inflation. Stay right there. We'll come right back. You having fun trading the markets, but having trouble finding like-minded individuals to discuss your trading and investment ideas with? Become an Apex creditor in the trading markets and join the Tiger's Den trading room only at tfnn.com. The Tiger's Den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas. Join the den and surround yourself with the sharpest minds in the trading world. Subscribers to the Tiger's Den are also the first to have their questions answered live on air and can privately chat with our TFNN hosts live during their shows. Interact with other Tigers and Tigers' as they share trading ideas, news analysis, and discuss the market action all trading day. Subscribe to the Tiger's Den risk-free with our 30-day money-back guarantee and become part of the TFNN trading community. TFNN Educating Investors You could be making money off the stock market and if you're already making money off the stock market, you could be making a lot more. Check out TFNN and Tiger TV and get expert investing advice to give you the power to control your financial future. Go to tfnn.com and find the newsletter for you. Whether you're into trading gold, metals, futures, currencies, or options, you'll get advice and analysis to help you seriously get ahead. TFNN also features trading services with a 30-day money-back guarantee for new subscribers as well as TFNN's Tiger Den trading room, trading software, and educational webinars for all trading levels. And make sure you check out Tiger TV for free on tfnn.com or TFNN's YouTube channel for live financial content from 8.30 a.m. to 4.00 p.m. eastern on market days.  TFNN Educating Investors TFNN is excited about our new software charting program The Art of Timing the Trade Charts. In collaboration with Tom O'Brien and using his best-selling book The Art of Timing the Trade, Your Ultimate Trading Mastery System, David White has programmed an outstanding piece of software that will complement any trader's methodology. Using this first-of-its-kind program, The Art of Timing the Trade Charts allows you to scan thousands of stocks for Fibonacci formation setups, including guardleafs, ABCs, butterflies, and much more. The Art of Timing the Trade Charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days, weeks, or even months searching to find. And right now, we're offering licenses available at only $79 a month. We are so confident that you're going to love this new charting software that will even give you a 30-day unconditional money-back guarantee. Don't miss out on this incredible new piece of software. Get your copy of The Art of Timing the Trade Charts today by visiting TFNN.com This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com Welcome back, folks. I doubt. That one just shows right now down 413 in Aztecs off 150 S&Ps at out 61. Let's go to our man, John and Philly. John, what's going on, brother? Tom, I want a great couple of weeks to start the year. Got to love this volatility. Down and up, down and up. There's no doubt, man. It's pretty intense. Pretty intense. Tom, I wanted to do just a call and ask you a real simple question on the oil contract. Full disclosure, this morning, excuse me, this midday, just after the noon hour as the stock index futures were bottoming, I re-bought, I bought back the March crude oil contract. I had observed at that moment in time just under 82 the low of the day. It looked like it was potentially completing an exact AB equal CD dip just over the past couple of days. And as you look at things, is there anything that you're seeing that tells you oil is very unlikely to run back to the highs and make higher highs over 87? I'm just trying to protect myself by asking you that question. Now my take is going to 107. Oil. And so check this out. This is really cool, folks, what John's talking about here. So you have two different things. If we talk any type of resources, gold, oil, metals in general, right? And you can see what John was talking about, you can see market bottomed at 1210. Oil bottomed at 12. This is what normally happens with... So let's pitch this. As the broad market turns, you're going to see oil go higher again, metals go higher again, agriculture go higher again, because what happens is this, is that in inflation, as markets get hit, they will go down less, and then as soon as they turn again, they're going to go up a lot higher. So, you know, that's where my head's at with all of these resources, agricultures, you know, and I'm not there in the market, folks. In the market, my take on the market is it going to be a stair step down, but yet the resources are going to be a stair step up, and it's going to be pretty cool. I mean, you know, when I say it's pretty cool, sometimes it's just like anything else, you know, they're going to be the stronger sectors in the marketplace for, I suspect, the next couple of months. That's how I'm looking at this, John. Okay, very good, Tom. I appreciate your input. Thanks so much. Okay, man, have a great one. Have a safe one. And folks, I know that sometimes that's hard to kind of understand, but it's really not, because if you're watching markets today, I was on a TD Ameritrade this morning. So picture this. I got to pick out three long stocks this morning on TD Ameritrade in a month and a half hour. Bottom line, I did it, okay? But trying to explain that was a trip in itself. But guess what? There were about 15 to 17 stocks that looked like, you know, they all opened lower, but they looked like they were going to go higher.  I picked out Devin and he can, I don't want to listen to them. I want to listen to me, but anyway. Anyway, we did Devin Energy. So what this was, so picture, it opened at 44, 45, or down to 42, 87, but what it was doing was going right into strength. I love that, right? You know, it was still only down from two bucks, you know, so the bottom line looks to me like that wants to go to the highs. Caterpillar also opened down and Caterpillar's place, same type of setup. Caterpillar was the classic. Right back to the breakout area. I didn't think it was going to have the 5 million shares. It ended up, it's not going to have the 5 million shares. We went to 206. It opened to 211. I was on at 11 o'clock. I was trading 206 at that particular point. Bottom line, that rejected lower price. Caterpillar, when you take a look at Caterpillar on the weekly, watch this. This is strong, man. This, three weeks ago, you went higher with volume, taking out the consolidation. Last week you went higher. Now you're going to reject lower price at lighter volume. This is going back to its highs. And then the last one I did was Neumont mining. And Neumont's case, bottom line, what you have is the same type of setup. Comes back to the breakout area. You're going to have lighter volume. The breakout area had 15 million shares. You're at 6.5. Hit 61. You're at 62. This wants higher price too. So when you can find any type of strong stocks when you are down 100 and something S&P points, pay attention to it. Because those are the ones that are really going to crank. There's no doubt. We can see the S&P, it's hard to comprehend. I know it's only down 23. And guess what? There's 25 minutes left. This is going to be a monster. Because what ends up happening, unfortunately, is that there's plenty of folks that are new and the bottom line is that they'll keep selling, thinking that it's the end of the world. And guess what, folks? The world doesn't end. You've got to get that out of your head, man. That's how it goes. If you stick with expansion contraction theory, and I'd urge everyone to really look at that. Fast markets like this is much more consistent than almost anything you could find in the marketplace. That's my reality. And once you study it for a while, it may be your reality. But I can tell you, you know, on days like this, you really want to pay attention to it. Because I can show you, so watch this. Let me show you this. This was, I was looking, I know it was the Nasdaq. So the Nasdaq really gave a clue, like if it was my son Tommy, he played so much professional poker, he would say, what is it called? A tell. It's a tell. So this would happen. Inside of the Nasdaq, the Nasdaq actually gave the tell. Because first off, what it did is this. It got to the 1 to 1.618. Then what it did is that the first leg up in the Nasdaq, here, watch this. This is when I really said, okay, man, I think I'm going to be right on this call, is that what the Nasdaq did is that the first leg up, here's the first leg. The first leg up almost went to a 50% retracement of the leg down. The second leg up, you can see it right there, went right to the .618. When you can do a first leg at 50%, a second one at 618, man, you're going. You're going, you're going topside. Because that just, listen, none of us know how these numbers work. What we do know is that you need some type of a system that you can rely on. That's, you know, other than that, if you rely on the television folks, especially in markets that want to go south, it doesn't work. Because I can tell you a lot, I'm on TD Ameritrade every week. So last week I had to pick, you know, I always got to pick something up. And it's really cool. I mean, I like how this works out. But you got to remember something. So I'm telling them last week, hey man, I'm giving the longs, but this market wants to get down. I was saying that the Hughes want to go to the 350, like I've been saying here, the Hughes go to 335, 325, 334, 334. And now we're at 350 again, you know. But when you get, and patents repeat, exactly, over and over and over again. And I don't know why, and no one else knows why either. But when you're trading, if you can get confident in them, what happens is this, first you have to understand the theory behind it. Then you see it enough, then you put your money on it. That's, just put small money at the beginning. I don't know, it's $100, one contract, 10 shares, just so you can see, and then you will really get to understand, you'll have a lot more confidence in yourself.  So you're the one that has to get confident in the system you're using in order to basically either not lose money or make money. Dow Industries right now, down 158, you get the Nasdaq, down 18, unbelievable. And the S&P is off 21. Come right back. Tiger Realty has the experience across all areas of real estate in the Tampa Bay area to help buyers and sellers make the most informed decisions across all price levels. From the price you should be paying per square foot in certain up and coming areas to the type of cash flow investment properties are capable of creating, Tiger Real Estate can help you make the best decision when it comes to all areas of the market. Before you make one of the biggest decisions of your financial future, call Tiger Real Estate LLC today at<PHONE_NUMBER> or email us at tiger at TFNN.com at<PHONE_NUMBER> Call us today. The technology around us is changing every day. With so much happening, it can seem impossible to keep up with all the information. David White's investment newsletter, The Technology Insider, is designed to give you all the information you need to understand the technology that shapes today's markets and tomorrow's future. David White has made his living staying on the cutting edge of technology. His weekly newsletter will give you specific recommendations for value tech stocks as well as entry prices, target prices, and stops to set for each trade. Dave delivers his weekly newsletters every Friday, with updates throughout the week. You can get The Technology Insider at TFNN.com for only $37.50. Sign up for David's newsletter, The Technology Insider, and get an inside look at everything the technology sector has to offer. Try it risk-free today, with our 30-day money back guarantee. TFNN, educating investors. Biotech is booming, but for how long? Whether you think the Biotech bull has room to run, or has run its course, trade LABU or LABD, Directions Daily S&P Biotech three times bull and bear ETFs. Visit DirectionInvestments.com slash Biotech today. An investor should consider the investment objectives, risks, charges, and expenses of the direction shares carefully before investing. The prospectus and summary prospectus contain this and other information about direction shares. To obtain a prospectus or summary prospectus, please contact Direction Shares at<PHONE_NUMBER>. The prospectus or summary prospectus should be read carefully before investing. An investment in the funds is subject to risk including the possible loss of principal. The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor, Four Side Fund Services, LLC. Call now. Toll free at 1-877-927-6648. Internationally at<PHONE_NUMBER>. I'm O'Brien. Welcome back folks to Dow. Dow is down 195. You get the NASDAQ off 39. S&P's off 28. Let's go to Bob in South Carolina. Hey Bob, what's going on? How are you doing Tom? I'm doing great, man. You're self? Doesn't get any better than this. That's a beautiful thing. Ah, Amat, I was wondering what would an entry point be on that? If you're going to buy Amat, let me put this here one second. So you got a rejection of lower price on just about everything out here today.  I'll buy it for at least six months anyway. Then you're going to wait. Because what you have, so watch this, okay? So, Amat, what Amat did here, you know, come down off the high of 1-67, hit 1-29 today. Amat more than likely is going to bounce somewhere into like 1-46, right? That being said, this market, my take on it, is not done going down. And I think Amat, you know, will be a nice buy at like 1-14 as long as it comes with lighter volume. See, 1-14 on Amat is a high volume low that has not been hit. And that would be on a longer term basis, meaning, you know, five or six months, that would be a much better situation. My take here is that all this is, this is a dead cat bounce. We're going to get a good one, okay? But then this next leg is going to be coming down and, you know, Amat, that kind of, that 1-14 sticking out like a sore thumb, man. And it hasn't been tested. Yeah. Could you ask, well, for one more time, NVIDIA, what do you think that's going? NVDA. Let's take a look at it because that, and these are the stocks you do want to be in, folks.  Chips, chips bring the NDX up, they bring them down, and chips are always in a growth area. You've got to remember something. Where our 2022 bottom line is that chips are going to be running the world and they are running the world. NVIDIA do the same thing. I mean, I wouldn't bite right now.  Now the difference in NVIDIA and Amat, Amat, Bob, looks really well at its highs, meaning he has a nice, you know, volume at the highs.  What's stopping it right now was the bar of the breakout area from June of 2021, which is 201. It hit 208. You know, so I'd be careful. But I think you're in the right sector. I can tell you, you know, and this is what the difference is. So pitch you what the difference is. And so when you look at it, something like that, folks, it gets really interesting, because it's like, okay, hold on, the same sector. Why do I think that one has much lower to go where the other one doesn't? And that means NVIDIA has much lower to go over as Amat. Fundamentally, what happens with these stocks is this.  So they're back-end loaded in a monster way, meaning that, Bob, if you and I open our chip plant, right, what would end up happening, Amat puts all the, well, you know, Amat puts all the equipment. We would have to come up with the billions of dollars prior to it. And we know when I had a chip plant for three years. You know what I mean? Where NVIDIA, that's just a machine, you know? So they are two different deals, but bottom line is that I just wait for the next leg down, and I suspect if I'm right in this context of how this will play out, you got about five or six weeks before you're really going to, real goodbye in general. Well, thank you very much, Tom. I appreciate it. Okay, man, you have a great one and a safe one. You as well. Thank you. Bye-bye. On the next leg down, folks, okay, what you'd be looking for is this. If the next leg down, so let's picture Amarang in the context that this will bounce and then we'll actually get to a low, a low. What would end up happening is that you know how this goes, is that, okay, you're going to look at this low inside the spy. It depends on how it comes into the low. It also depends, folks, on how we actually do the bounce. So what you'd like to see is this.   They got their hands tied. The market has tied their hands like in a big way and put a noose around their neck, actually, simultaneously in one day. Think about that. Even though we come back, they know that, oh, my God, okay, we kind of have markets going up and down by 150 to 160 S&P points per day. You know, that's not the mandate, but guess what? Bottom line, they can't have it happen. So what normally would happen, you get the balance going. You pull back. As you pull back, what you don't want to see is you don't want to see the market stall before the lows. Because if you start going sideways, you're building cars for another leg down. That's how this goes. You know, it's... So let's go take a look at some of the higher volume equities. You're going to have volume today. There's going to be a high volume low, folks. You get apples down $2. You got envidiers down $2. These are nothing. Look at Microsoft. Look at this, man. Microsoft, you talk about a bounce, man. This is something else. Microsoft traded down to $276 and it's up 20 points. That's $296. That being said, now watch this. You put this up. So you broke the swing. $280. The weekly is going to have the volume. In Microsoft's case, it really depends on how... and all these equities, it depends on how this bounce comes in. That's a reality. It's both sides of the market that you always want to look at. There's no doubt about that. This market's going to be green, man. You know what's so crazy about that, folks? I told them that on TD Ameritrade this morning, too. I'm sure that they don't know me as well as you guys know me, but I suspect they thought that was insane, too. Listen, I think it's insane when it's happening. That's the reality. But I know these numbers well enough that if you don't say it and only keep it to yourself, that doesn't make any sense either. So we'll see where this whole thing shakes up. The volume on the way up is going to be crucial to understand where we're going in the context. When I was talking with Zee... Well, this is funny. So Zee is his name in the trading room. John from Philly, folks. The cool thing is, if you are a bull in the metals in agricultural and commodities in general, you're going to see what I'm talking about. You're going to be able to take a shot and you're going to see that the broad market keeps going to a lower-low breaking swings. As that happens, when the markets go down, they take everything down. So picture the resource stocks, they'll pull back, but they'll pull back a lot less than when the turn comes. What you're going to see is this. You're going to see that the turn comes and as the turn comes, the acceleration goes up, the broad market will go up, but the resource stocks, inflated stocks, not inflated stocks, that have a correlation to inflation, are going to go up much faster. And then what we haven't had yet, which I expect we will have, is that we will see this gold and silver market take off like a rocket ship. That's the real bottom line. The argument anymore that Bitcoin is gold is down the drain. Gold is still trading where it was trading. Bitcoin went from $69,000 to... I think it's at $30,000 today? Let me see what it is. It's $36,000 now. You get volatility in Bitcoin. I'm not saying that. What I am saying, though, it's not a store of value. So it's down to $32,000 to $36,000. Stay right there folks. I'm right back. Sharpening your skills as an investor is like getting better at playing a musical instrument. You have to practice, sure, but you also need excellent instruction from experts. At TFNN, you'll get advice and guidance on the authority and technical market analysis. And it's not just dry, tedious text either. TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV, live every market day from 8.30 a.m. to 4.00 p.m. Eastern for free. Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens to closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be. TFNN, educating investors. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks, and commodities, subscribe to the opening call newsletter at TFNN.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns. Finding the peaks and valleys in stock prices.  First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up.  The Tiger First Mortgage Program may be the program for you. The best rate on a five-year CD in the country right now, according to bankrate.com, is paying 1% per year or $1,000 per 100,000 invested. The Tiger First Mortgage Program pays 7% per year paid monthly on secured, high-value, buildable properties in St. Petersburg, Florida. The investment is for four years, paying 7% per year or $7,000 per 100,000 invested. Your investment is secured by high-value real estate in St. Petersburg, Florida. Your investment can be anywhere from $100,000 to $500,000. Do you want to make $1,000 per year on $100,000 invested or $7,000 per year on a secured Tiger First Mortgage? The Tiger First Mortgage Program may be just the program for you. The Tiger First Mortgage Program pays 7% per year paid monthly. For more information, you can call<PHONE_NUMBER>. That's<PHONE_NUMBER>. Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to tfnn.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV. Welcome back, folks. It's St. Patrick's Day, early. Bottom line, Dow Industrial is up 53. The Nasdaq is up 50. S&Ps are up 3 and a green market, folks. Small caps are up there. Now, we get a question, a couple questions. Okay. As to, do you expect markets to gap open tomorrow or be steady? This is what normally happens in a market like this, okay? So it's easier calling the market when it comes to a low like this and you get the expansion contraction. That's so dramatic, folks. When we've had a market that's down this dramatic, okay? Bottom line, yeah. Could you gap for a second? Yeah, you could. But most times what happens is this. Most times it's going to mess around here a bit. That's what kind of normally happens, okay? Because they don't make it this easy. But maybe it's not this easy. Maybe it's still plenty of people have shot. I'm not sure. But my take on it is it's normally not that easy. Like, it's not that you're going to, you know, you might gap up 20 S&P points tomorrow. It could be down 20. Is that dramatic? What you have to do, so I wouldn't be laying some money if you caught getting long here. Great, stay long, okay? Because let's talk about a two-week basis. That's a lot easier. Two-week basis? Guess what? You'll go on a lot higher. A lot higher. That's kind of how this shakes out. I would love to. Listen, every day now I will dig into, you know, a couple of chapters of time in the trade. So, because these are the markets. When you get fast markets, man, that's when these markets are really cool. And what happens also is that that's when you also know the price projections of the markets. Knowing the price projections, now this speculation, but you want to speculate where you think it's going to go because what ends up happening is that if you've done the homework prior to it, it either going to go or not go. And so what happens there is that it doesn't go good. You flip the whole thing around. And then the price and volume inside markets, folks, is pretty consistent, you know? And yes, we've gone up for a long period of time without volume, but there's enough targets and targets around, trust me. Your next couple of years, time in the trade, price and volume, you better pay attention to it. The froth is gone, man.  You have to know something. Have a great night, have a safe night, come back and visit Tommy tomorrow morning, kicks us off at 9 o'clock. Oh, yeah, folks.


Hey everyone, I am so glad to be back with you this week last week was kind of rough But I have it on good authority that this week we will be reviewing something that is not from 1993 We're getting away from 1993. So what are we looking at this time matter 788 here? It's time for another vintage GI Joe toy review before we get started with that I need to give a code name to another patron and this guy's name is Brian Zahn First of all Brian excellent name, but there's only one thing that could be your code name So thank you for joining the team Zahn this week. We are looking at a vehicle and it is not from 1993 It is from 1992. This is one that I opened up and assembled myself and In this case, I don't think too many mint in box collectors are gonna be too broken up about it On this channel. I don't do very many ranty videos Well, not that often I try not to get angry about these things All right, stop that the graphics department is no longer allowed to show anything that contradicts me It's a new rule. I don't often do ranty videos I try to keep an even keel around here for one thing I really do love GI Joe and I don't want to give you guys the impression that I just blow up at any little thing that I don't like With this toy though. There was something that really got my blood boiling. What about this little toy got me so upset Let's find out HCC 788 presents the 1992 Cobra rat This is the 1992 Cobra rat the high-speed attack hovercraft This vehicle was only available in 1992. It was discontinued for 1993 It did not come with an action figure in the 1990s fewer GI Joe vehicles came with drivers And this one is no exception to that trend. I purchased this vehicle at Jocan in Chattanooga, Tennessee this year And I assembled it myself. I did an assembly video for it So this is as mint as it can be although the box is a little beaten up We can still take a look at it a hovercraft is an air cushion vehicle that can travel on land or water As a hovercraft you would expect the rat to be both a land and water vehicle But there are some problems with that that we will get to later If you consider the cobra rat to be a water vehicle It joins the ranks of other cobra water vehicles cobra first entered the water in 1984 when two vehicles were introduced one of which was the water moccasin with driver Copperhead the other one being the chameleon swamp skier with driver Zartan the chameleon swamp skier didn't really float. It was more of a pretend water vehicle The water moccasin might properly be considered a cobra's first real boat Even though the cobra rat is roughly the same size as the water moccasin And you might expect it to fill the same role as the water moccasin It does not hold a candle to the 1984 vehicle for reasons we will discuss as a Hovercraft the cobra rat would have to go up against GI Joe's famous hovercraft from 1984 the killer whale If the cobra rat seems a little inadequate parked next to the GI Joe hovercraft It's because it doesn't really deserve to be in the same conversation as the legendary killer whale A more fair matchup would be to stand it next to the GI Joe water vehicle from that same year from 1992 The barracuda, but the barracuda was a submarine and the cobra rat as a hovercraft Would be a surface water vehicle and a land vehicle So these two guys wouldn't really go head-to-head against each other by the way GI Joe Berg has an Excellent review of the barracuda, which you should check out But is the cobra rat even a water vehicle if it's a hovercraft? It should be but nothing on the box says that it is and I'm not sure it is a hovercraft Despite what it says on the box We have many questions to answer with this thing Let's take a look at that box so we can see how the cobra rat was marketed up here at the top We have the GI Joe logo and under that it says a cobra command weapon and we have the cobra enemy logo there That's pretty standard. We've got the name of the vehicle the rat high speed attack hovercraft Got a sticker here for a contest that was going on at the time then and we have the box art which is Fine, it's adequate. We've got the digital background back there and this is okay It certainly does look like the vehicle we got in the box down here in the corner It says flak rotors really launch. We will test that looking at the sides We've got more of that same artwork pretty much all the way around But here on the top of the box we have our flag points It was worth two flag points in the 80s these flag points were on the back of the box They moved them to the top on the back of the box We have a photo of the vehicle the vehicle as seen here is pretty close to the production vehicle the main difference I see is this cobra logo that's behind the rotor is red and on the production vehicle It's black other than that it looks about the same I have the blueprints for this vehicle since I did open and assemble it myself the blueprints printed on the back of the assembly instruction sheets and These blueprints are supposed to give labels to the features on the vehicle That's supposed to make it seem like a real-world vehicle But I actually have some problems with these blueprints first of all these labels are not very good They don't sound very realistic. They seem very made up and sometimes use almost random words But I have a problem with one in particular this one right here number six it says Shock-resistant wheels with extra grip trench climbing treads. They labeled the wheels Which means in universe this vehicle has wheels It's a hovercraft other GI Joe hovercraft had wheels of course because they're toys to roll a toy along the ground You need wheels, but it's supposed to be pretend You're supposed to be pretending that it's a real hovercraft The wheels are just because it's a toy and you're not supposed to draw attention to the fact that it's fake The blueprints are supposed to make it seem real, but instead they pointed a big arrow and drew attention to the fact that it's not a real hovercraft and now I'm Questioning whether the designers even intended for it to be a hovercraft Let's move on and look at the parts and the features of this vehicle First of all it is mostly red with some black and here in the front molded onto the body It has spikes and that's alright. It's kind of cool I guess if an enemy tried to board the vessel it would run into these spikes So that's not bad. It has a few more spikes on the back So that spike motif does continue around the vehicle So this is okay It gives the vehicle a little bit of a unique character next attached to these short little fins We have what the blueprints call gyrating slicer blades with underbrush defoliation barbs They are these saw blade type things. They are black. They are synchronized with the front wheels So as the vehicle rolls they will spin cutting down any tall grass in the way Sometimes they will spin sometimes they have a little bit of trouble Unfortunately, you can see the mushroom clips from the top of the vehicle and that is pretty ugly Basically, these are weed whackers These will cut down the tall grass in front of the vehicle as it moves forward But this is a hovercraft a hovercraft should be able to float over that tall grass and Foliage without any problem. It really shouldn't need these the box art shows these blades Cutting through some grass and leaves in some shallow water But this is supposed to be a hovercraft a hovercraft should be able to float right over all that stuff These blades are too low to cut through like trees or anything like that So again, is this a hovercraft next? We have a black canopy with a green cobra emblem right on top and this canopy is kind of narrow It doesn't provide a lot of protection for the driver. It can open up. It's hinged on the back Just pull it up to reveal the cockpit and the cockpit is not too bad It has a fair amount of sculpted detail in there It even has a sculpted and seat belt on the seat That's a nice touch and it has a fair amount of instrument panel detail as well But it is all red which means some of that detail can get lost a bit The box art shows the rat being driven by version 2 of Firefly So I'm going to demonstrate putting a figure in the vehicle using that same Firefly figure So to put the figure in you just bend his legs and sit him down in the driver's seat It's pretty easy and he should fit down there well enough to close the canopy without any problem And I don't really think I like this look I think they were trying to match up the greens the green on the figure with the green cobra emblem But aesthetically it doesn't really work very well for me on each side We do have green cobra emblems in a black circle and This does provide a little spot of color, but I'm not sure it's enough There is still a lot of red on this vehicle broken up by a little bit of black I feel like this needed some more color variation We have twin guns on each side of the vehicle. They look like Gatling guns pretty cool looking They do pivot out each of them does So you have a little bit of a range of motion on those But I think they work the best when they are forward-facing and actually like these guns. They look pretty fierce I don't really have any problem with them at all The blueprints call them double-barreled rotating machine guns with high-velocity dispersion Scanners and this is an example of the blueprints kind of using made-up words or terms that I don't think Enhance the realism of the vehicle on each side We have Cobra rat stickers and then we get to the main play feature on this vehicle the so-called Flak rotors there are two on the starboard side on this black Disc with the Cobra logo in the background we have one and this one on the starboard side is just for storage It pegs on this circular fan like rotor disc It has a keyed peg it pegs on there pretty well on the starboard side So you can store one of the discs on there when you are not using it on the port side We have the actual disc launcher and you can see the trigger there and it has a sticker that says vortex trigger So it really only launches off of one side off of the port side according to the blueprints to make this work We are supposed to wind the rotor approximately three full turns in clockwise direction 15 to 18 clicks and then to fire push trigger in an upward motion as indicated. Let's test this out Let's turn this rotor about three full turns in a clockwise direction. It's a pretty tight spring So just keep turning it until you've done about 15 to 18 clicks. I'm not counting But I think that's yeah, that's about it It's not turning anymore and I heard it click into place So I think this is ready to fire.  It's just gonna fly off and you won't see it Unfortunately, you won't be able to see me push the trigger because it's on the opposite side of the vehicle But this I think is the best way to demonstrate Okay, here we go. Let's push the trigger and fire this thing off Yeah, it pretty much works and because it has these angled fan blades and it spins you can get some decent height out of it And it gives you two shots So if you miss your kid brother's face with the first one you can try it again I do need to point out that the rotor blade that fits on the storage side pegs in much more solidly Than the rotor on the launchers side This pegs on pretty loosely and will fall out fairly easily Of course, it can't peg on too solidly because it is supposed to launch off But if you want to keep both of these blades on here, it's not very easy on this port side launcher Moving toward the back. We have a little bit of engine detail on each side. It's pretty weak Then we have those spikes again Then we have the engines that are mounted on this central fin The blueprints call these jet-powered turbo engines with aerodynamic vortex charger on each of those engines We have a sticker that says rat in Green cartoon letters. This almost looks like something out of the 1960s Batman show That is absolutely it as far as features. It has no removable engine covers It has no peg-on missiles. It has space for only one figure. No one else can ride along It has nothing nothing nothing This is a very simple vehicle with a very red body with a few black details And it desperately needs more color interest the stickers try to do that But it just isn't enough. This is a separate piece up here with the fin and the engines That's not all part of the same body mold that separate piece could have been done in another color To add some depth to the vehicle, but instead they made it the same red color as the body So that fails to add anything aesthetically another vehicle with a very similar color scheme was the 1988 Cobra stellar stiletto again almost entirely red with some gray But the stellar stiletto added some silver plastic pieces just to give it something extra and the Cobra rat Desperately needed something like that. There's one thing we haven't looked at yet on this vehicle I intentionally saved it for the very last we haven't looked at the underside and that's because There is no underside throughout this review I have been questioning whether the Cobra rat is really a hovercraft because a hovercraft toy would expect it to be both a Land and water vehicle. This is why the Cobra rat cannot be a water vehicle Because it has no hull it is half a vehicle This is just astonishing to me when I opened the box to assemble this vehicle I thought there was a part missing. I thought there had to be something missing on this thing Somewhere in that box there had to be something that goes on the bottom, but no this is it This is how they designed it There are two sets of wheels with plastic axles between them front and back on the front wheels There are these paddles on the outside of the wheels and that's what spins those blades That's how those work, but that's it look There's a hole that goes through to the cockpit and the action figures feet to just stick through there this This is terrible to say. This is disappointing is an understatement. This is lazy this is Cheap and this vehicle is from 1992, but it's not from 1993 1993 was the pinnacle of lazy and cheap in the GI Joe toy line. No, this is not from 1993 This is from 1992 and they they did this they sold this to kids Can it float? No Looking at how the Cobra rat was used in GI Joe media It did have a few media Appearances in the cartoon series it appeared in the deke animated series the lower quality animated series from the 1990s it only had a few brief appearances It first appeared in the episode long live rock and roll part one the rats appearances in the cartoon series are nothing special Except for the fact that it is clearly depicted as a water vehicle It is shown traveling across water something the toy Absolutely cannot do it was in the comic book series published by Marvel Comics The rat appeared in issue number 127 I don't know if it appeared in any other issues, and I don't care I'm not going to flip through all my comic book issues looking for the thing in the comic book The rat is shown to be a water vehicle.  This is half a vehicle. It is so clearly missing something It does not deserve to have the GI Joe brand now look here. I don't like to rant I refuse to accept this as grunt. I don't like to rant often one of the reasons is I really do love GI Joe I don't want to give you guys the impression that I just hate on these toys Even GI Joe toys that I don't personally like I usually don't hate I can usually find something good to say about them and if you like these toys I don't want to disparage your opinion or try to change your mind I also don't want to give the impression that I'm normally an angry person. I'm not I also try to keep these things in perspective These are just toys.  They don't feed the hungry They don't house the homeless. They are just plastic. They are just toys Even with that perspective there are still some things that make me mad and when I get the impression that has bro a Multi-billion-dollar corporation intentionally short-changed kids I'm not okay with that when I look at this toy I think of all the kids who saved their allowance and earned money Washing lawns and mowing toilets and they go to the store. They buy this toy They open the box and they pull out pure disappointment. Look, we weren't all rich kids I wasn't a rich kid. Not every kid had hundreds of figures and dozens of vehicles Some kids felt lucky to have a toy and any one of these toys could have been some kids first GI Joe toy and it makes me sad to think of the kid whose first impression of GI Joe was this toy and Possibly their last impression too It makes matters worse when the media used to promote this toy the cartoon of the comic book Advertise the toy as doing something it absolutely could not do. This is not a water vehicle This isn't just a matter of changing something to make the toy seem more real in the fictional universe This is not like having the conquest x-30 with two seats instead of one No, this is fundamentally dishonest about the very nature of the toy Can I find anything good to say about this toy? Can I find anything good to say about it? Nope, I don't know if there are any fans of the cobra rat I don't know if any of you guys had this toy and enjoyed it back in 1992 and if you did that's great. That's fantastic You deserve better though. That's it. That's my review of the cobra rat. Thank you very much for watching it Thank you to all my patrons. They make this channel possible They are very generous and I appreciate them very much But I am so happy to have every single one of you that joins me every week to talk about GI Joe I know a lot of YouTube channels just wish they had the kind of viewers that we have here You're all phenomenal and I'm so lucky to have you. I know this was a rough one We usually have more fun around here. So please subscribe to this YouTube channel So you get more GI Joe toy reviews every week And don't forget to find me on Facebook and Twitter and visit my website HCC seven eight eight calm I know it's been two rough weeks in a row But not every review can be the sky striker or the killer whale We got a look at all of them. That means sometimes we will be looking at some real stinkers But next week we start a new month. It will be October and I'm pretty sure we've got some great stuff lined up It's got to be more fun than this. Let me see what we got coming up in October How long does it have to stay under there till I'm sure it's dead


So Adam, welcome to Bradford, you must be glad to finally be involved, obviously signed last week and a bit of international duty assigned, you're finally first day of training today. Yeah, obviously it feels like I've signed a while ago now, but I assume it's my first day in today and yeah, excited to come here and the lads have welcomed me really well today, really together group, so yeah, I'm buzzing to be here and it was good today, good first day, yeah. And we're mentioning about that international duty in Northern Ireland, we believe it was quite a quick turnaround when you signed for Bradford, I think I'm right in saying that our head of recruitment Greg Abbott actually met you while you were in Northern Ireland duty training in Manchester to sign the papers, is that correct? Yeah, yeah, I think it's not too far from where he lives, so you come down and sign the papers, luckily, so it all worked out very well before I went away to San Marino, so no, it was all done really quickly and that's what I wanted as well, so I just wanted to sort of get signed and done and yeah, just buzzing to be here. New club, do you take much persuading to join Bradford? No, not at all, I was at Shea McCartney in my room at Northern Ireland, so he was sort of singing the praises but you know, I knew I wanted to come here anyway, sort of thing when I knew that it wasn't going to be having a berry, so yeah, I'm just buzzing to be here really and Shea was saying a lot of good things and today sort of cemented that in my mind, the lads are just top lads, seem like a real together group, great atmosphere and the management staff as well, really welcoming, and training is good, very good tempo, hard, which is really what I want and what I need, so no, it seems good.


So the question is, how does Locke reject Plato's account? Well, he's definitely rejected in the last condition, right? He doesn't think forms are eternal, transcendent, spooky sort of things floating out there, right? And in fact, Locke is very sympathetic to Aristotle, or sympathetic with Aristotle in this regard. Aristotle couldn't cope or grasp the idea of some kind of separate, the existing transcendent thing floating out there, and that's the source of knowledge. Yeah, he's kind of on board with Aristotle in this one. I think most of us, or at least most of y'all, are too, right? Yeah, that platonic form, that's just crazy. Okay, so it's very definitely rejecting that forms are eternal. Now forms are going to be temporary, they're going to be with the thing. Okay, well, what about the universals? Are forms going to be what particular things have in common? You probably, I mean, Locke still wants to give an account of truth, and it's really hard to do truth without some kind of universals. And when we're talking about couches, I'm talking about what all these particular things that we call couches have in common. So yeah, he's probably still going to try doing universals. I've probably talked about all of these things, right? Not just this thing, this thing, this thing, this thing, and try to prove one truth at a time about them, right? So he's not going to say, well, this square has four sides, but I don't necessarily know that all squares have four sides. I have to look at each individual square and I keep going. No, right? He's probably going to keep at least some notion that these forms are universals. Okay, what about objective knowledge? Yeah, probably.  He knows the thing, all right? This might be forecasting a little bit, but he thinks that we know the particular objects, right? We know the particular substances. He still uses the word substance. We know the particular substances because we know the qualities. The qualities are in the thing. There's ideas and there's qualities. The qualities are in the thing and we know the qualities because of what they, because of what they cause with our ideas, right?  I can tell you this is a square. I can tell you it's an apple, whatever. I can tell you that's what that is. And I'm saying something about that thing, not just about what's happening in here, right? If I say all squares have four sides, I'm not just telling you what I believe or what's true according to me, right? He's saying something about squares. Okay, well, then what about the reason? Well, if by reason you mean reflection and what's happening in your head, okay, but if you mean some kind of recollection or whatever, no, right? If you're talking about something non-empirical, if you're talking about something non-experiential, no, he doesn't think form is known through reason. Form is known through perception. You perceive, you have sensations, right? And then you use those sensations through reflection to know the form. So he's rejecting two conditions, that form is known through reason or only through reason, right? Plato's going to say you only know form through reason. Aristotle, Locke is saying no, no, no. We know form through perception, through experiences. Now, these experiences are sensation and reflection. Sure, the reflection happens here, but this is still an experience, not just some kind of recollection of a transcendent thing. So Locke rejects that forms are eternal and that forms are known only through reason.


This is Shepard with the Jackson Hole Shooting Experience, and today I'm just going to blink a little bit. My clients have not yet arrived, so I'm going to blink a little bit. I've grabbed a Ruger American rifle, which is essentially their 10-22, but in a bolt-action version. And in this particular one, we have the heavy barrel on it, and it has the threading to put a suppressor on, which we don't usually use. We can handle the sound of the 22. And so the scope that we chose to put on here is a diamond-back tactical. It's a 6-24 power, and I'm a target shooter, so I like having it at a high magnification. But it's really neat that at a scope, at this price point, you can have something that's first focal plane, and we got the one with a really busy reticule. And that's what I'll put a link down below to this exact scope. What's really great is that for this price, you put this scope on a .22 caliber rifle, yeah, it's kind of overkill for a .22, but this lets you train, this lets you do your long-range training with a scope that has the features, the lower quality features, but decent of a higher end, you know, really nice Vortex razor, or I don't know, there are so many big names out there, I won't say them all, but there are a lot of good names out there. This is a way to get the same training, essentially. And this little thing is just so comfortable. And you know something I've ended up doing is I'm ending up leaving this thumb over here, I'm leaving it on the same side of the gun, I'm not wrapping it all the way around, I've just been finding that that's a, gives me less, it makes me do a little less yanking on the trigger when I shoot.  Yeah, the scope's great, it's got the, it's got the hash marks below the crosshair, so I can go, I can go all the way to 36 minutes of angle. And we use this quite a bit at 200 yards, and so that's 20 minutes of angle at our elevation. I think here we're about 60-200 feet, and so about 20 minutes of angle is perfect for our 200 yard shots, and I find about 12 minutes of angle is right for our 130 yard shots. And you know, this thing's just right on, I usually hold, when I'm shooting extreme long range, I will dial my elevation, and I'll just use my windage, I'll hold on the hash marks on the busy Christmas tree reticule, but with this I just, I hold over, let's go up here for the, for the target, I think I'm going to give that one 14, it's a little further, there we go, and now let's go up to 200 yards, doing my triple check, making sure that the range hot light is on, there we go, let's get the 200 again, there we go, and that is the kind of fun we have. And you know, I noticed that this gun occasionally, because I'm using the really good ammo, the CCI mini mag, they're really waxy, so you got to clean the thing constantly, but it's worth it because the ammo almost always fires, so right now I'm not quite empty, but I've got a, I got one that failed to extract, so I'll take care of that and get back to having fun.


Hello everybody! E here. Welcome back to another video. Today we're doing something that we haven't done before. I was preparing for the Lord of the rereads that we're going to be doing in August. We're going to be reading, starting the Hobbit on August 1st, and then we're going to go straight through the Lord of the Rings trilogy back to back to back to back. So we're going to do the Hobbit, Fellowship of the Ring, two towers, and then the Return of the King, all in rapid system, well not rapid, we're going to take our time with it, but all together, as soon as we finish one, we're going to start another. I'm also starting the Shining, my fourth reread of the Shining, and my third reread of Doctor Sleep, but this is the first time I'm going to be going back to back, starting the Shining on August 1st too. So if you want to join that, just comment down in the doobly-doo. Anyways, so I was looking through the Hobbit, and I was also looking through the movies and whatnot, and I saw an unexpected journey, as mentioned several times, and for some odd reason it clicked in my head, an unexpected collection. So I wanted to try, I collect a lot of books and series that people might be surprised about. There's a little bit more to me than what's on the surface, and I thought it'd be interesting to go through some of my inspirations and talk about why I collect these things, and the reason why I collect them, even though I'm not maybe a fan of them. So I have the original six DAW paperback copies of the Elric Saga by Michael Morkock.  It's not the original publication, but we're going to get to that in a second. So there's that one. That's the first one. And then we have the Sailor on the Seas of Fate. These covers are by Michael Whelan. Whelan? Okay, I don't know how to pronounce it. They are fantastic covers. Then The Weird of the White Wolf, which is my favorite of the series. It's very much more a bizarro novel. It kind of goes all over the place, if I remember correctly. I think that's the one. And then we have The Vanishing Tower, which is really hard to see up close. It's so dark. The cover's so dark. It's some kind of fish person. I don't remember anything. No, it's more like an insect. I don't remember anything about that one. That's The Vanishing Tower. Then The Bane of the Black Sword. This one's nice. I really like this cover. It's the, I think it's the Skelebro in the background. And then we have Stormbringer, which is the final of the first six books. He did reboot the series. I do not have those because I don't really have any connection to them, but I do have. I think it's book eight or nine, and that is this one in hardcover, which is The Fortress of the Pearl. I have not read this. I have actually no interest in it, which is something we're going to get to here in a minute. I did read the first six books when I was younger, and I've only reread up until the third book, and then I just stopped reading. But on top of that, we have, I'm trying to make sure I get this right. There are certain ones of these that are, I'll read it back, let's see here. So, if you don't know, Michael Morkock released this series through Lancer first, and they were heavily, heavily edited books. In fact, I think they crammed certain books together, and so into one book each. I think it's multiple books, but, and he was very unhappy with it, but this is the Lancer version, and it's called The Dreaming City. It's an Elric novel, and then The Sleeping Sorceress. These are both Elric novels, which is funny because in here, Elric looks almost, he might be African American, or maybe Arab, he looks that way, and he doesn't even have white hair in this one. It's green hair on the cover, so that's interesting. But anyway, I also have, and this is solely because I probably will never read these, these are from Lancer also, but the whole reason I have them, I'm gonna get to that in a second. I just wanna show off the rest of these. So this is, let's see here, The Masters of the Pit. That cover is amazing. If you guys want me to do a close-up video of these covers, just let me know. I have no problem doing them. I love looking at these covers. This one is The Lord of Spiders. I think these are Epic Fantasy on Mars, kind of sci-fi fantasy. I'm not sure. I'm probably completely wrong. I'm just going by what it looks like on the cover. And then The City of Beasts, which is an absolutely amazing cover. I love that. It's gnarly as hell, man. It's got Old Dude on some kind of weird demon-faced dog creature. Well, almost human-faced, but it's got horns and whatnot. Anyway, so why do I collect books that I probably will never read again, have no real interest in? When I was younger, I told a story about my grandmother and her pushing me to read, to continue my education, through reading, that kind of thing. But I also had an aunt, and it was my uncle, well, my mother's brother's wife. So she wasn't blood. I had an aunt who, any time I went over to her house, she would have a fantasy novel, yay big. She'd have two or three sitting on her coffee table or whatever, and she was reading all of them at the same time. And I couldn't fathom at the time, I don't know, I was maybe eight, nine years old, I couldn't fathom anybody reading more than one book at a time. And she taught me how to do it. So I will always be grateful for her.  And I liked the Lord of the Rings movie, the old animated movies, I still love them to this day. I will still watch them from time to time. But she couldn't find anything, she tried the Wheel of Time with me, there was a couple other ones that she tried, I can't remember.  I guess I'm dating myself. This is back in the 80s, of course, but she tried several different things, and the only books that stuck were the Elric books. So after a hurricane, if you guys have watched my collector's video about Stephen King, how we lost our entire, my mother's entire first edition collection in a hurricane in 95 in Hurricane Opal. We lost, I lost my Michael Morkock collection back in 95 also. Then about, I want to say about four years ago, roughly I think is about four years ago, I came across an eBay listing with the original six DAW books. I ended up getting all these for under $60 that I was shipping and everything. Then my buddy, Evan's Light, who did the collections, put together the collections, Bad Apples and Dead Roses and Doorbells, Dust, that stuff, he found these for me, the Lancer editions. He's like, hey, you got me interest in these, and I ended up getting them off him. Then the Fortress of the Pearl, I ended up finding a thrift shop for $0.25, so that was lucky. I collect a lot of stuff just for nostalgia, and the reasoning for that is I lost everything I had for almost, I lost 95% of my stuff in 95 to Hurricane Opal, and then I lost the other 5% of the stuff that I had from my childhood. The only thing that survived was my copy of the Green Mile that I bought at Lucky's Grocery Store every single month when we were out in California. But Hurricane Ivan in 2006, I can't remember when it was, but I think maybe 2005, I'm probably completely wrong about those dates, but Hurricane Igor. I always get those too confused, I can't remember, I'm pretty sure it was Ivan, might have been Igor. I don't know, let me know down there in the doobly-doo. But yeah, so I fully expect the comments section to have a joke after joke about Moorcock, about the name Moorcock, so please don't let me down. But yeah, so this was an unexpected collection. If you want to see more stuff like this, because I got loads of stuff that I collect that maybe you guys would never even suspect, unless I've talked about it before. I don't know. But until next time, I have been Ian, you have been Ian, this has been another collection video. I'll talk to you guys later. Bye-bye.


Hello everyone. Based on where you're joining from, good morning, good afternoon or good evening to you. First I would like to extend a special thanks to Product School for bringing this awesome community together and facilitating these amazing conferences. I learn a lot from them and looking forward to networking. I am Babini Suneji. I do consulting as fractional CTO, CPO and executive coach. Today I'm humbled to share tips from my experience on the topic of mastering ownership mindset. So why this topic? Plain and simple ownership mindset gets the result. First let's reflect on what does product manager success look like. In my mind it's building exceptional products while advocating for customers and driving business goals. One of the keys to achieving this lies in cultivating an ownership mindset. As one may know, why is that so? Owners have unwavering belief in their purpose. They strive in ambiguous situations actively seeking opportunities to learn and grow. They have remarkable perseverance persisting through challenges and finding creative solutions. They have broad perspective. They are unafraid to explore new possibilities and bridge any gaps they encounter and they go all in. Now let me share my personal journey and why the ownership mindset resonates so deeply with me. This goes back in time from an early age I observed my parents building a business from scratch. Witnessing their dedication, their commitment, going over and beyond and paving way in uncharted territory. They instilled in me the value of operating beyond boundaries and prioritizing the needs of customers even offering pro bono advice to some of their clients which were not even their clients at that time. As I look back throughout my 25 years career in tech industry, I have implicitly embodied these ownership mindset and that's what I look for in the talent and in coaching that I do. With that, let me give you a little bit of my background. I have led leadership roles at both Microsoft and at other startups going from CTO at Heal to VP of Headspace and most recently VP of Cruise. Recently I've started my own consulting and doing fractional CTO and executive coach. I believe in paying it forward and enjoy mentoring at Techstars, First Round, Plato and CTO community which is a women engineering tech leadership community. And in my personal life I find joy and energy and exploring nature with my twins as well as a huge proponent of mindfulness. I love the code from time and again everything needs a reset and same thing for you. Let's jump into the next slide. Here is the way my mental model works for the four pillars that are core to mastering the ownership mindset. In my mind this applies to unlocking your potential whether you have an individual contributor or in a management position. One, transforming into product led companies. Second, working the problem. Third, looking beyond your role and last but not the least walking your dog. Let's dive into the concept of being product led. First in product led companies product partners with business moving beyond serving business. That's a huge mindset shift. It's about true partnership between product and the rest of the organization with technology as a powerful enabler. Here are the questions that might help assess a situation. Example, does product leadership have a seat at the table? Are they actively involved in shaping the company's direction? Unfortunately and sadly that's not always true. I've come across instances where product teams feel frustrated due to lack of support from company leadership when it comes to taking bold risks. It's crucial for leadership to understand and embrace the power of product and technology including the value of customer research. Next, let's discuss the importance of investment. And this investment is in terms of investing in product teams to transform the business into smart forward-thinking entity rather than just merely sustaining the business. For example, product led companies allocate resources to enhance product design and engineering capabilities to strategically power data which is really key to understand the insights and drive automation. This holds especially true for back office technology. I've seen this pitfall happen quite often where companies prioritize investments in end-user facing features at the cost of back office. They normally overlook the prioritization and importance of back office tooling. Without making these investments, it becomes impossible to make the entire operation intelligent. At cruise, it was really nice to see the investment in building products for the operator persona who handled fleet management. This was crucial aspect of meeting company goals and achieving the ROIs. The last bullet here is about product vision. In product led companies, the product vision is seamlessly integrated into the overall company strategy. I'm a strong advocate of having an alignment triangle that encompasses the mission, values, true non-star strategy, priorities and metrics. I often use this triangle as a starting point for all hands meetings or strategy presentations. This reminds everyone how their work ties into the bigger picture. You can do this at the broad level, company level, to department level, to your team level. It really helps connect the dots and stay true towards the non-star. A well-defined product vision drives alignment across teams, ensuring that the product doesn't become a disjointed patchwork looking like Frankenstein. As the companies and teams grow, it's really helpful to have this high-level vision and alignment that way teams can go faster on their own without having to be slowing down. As owners, they take responsibility for keeping the vision updated periodically because the product expands and new insights emerge. Let's pick two transformation stories to reflect some of this. I especially picked non-traditional tech companies like Disney and PepsiCo, where both the leaders drove the change to become product-led companies. First, let's go into the story for Disney. CEO Robert Eiger's strategy for Disney transformation, as depicted in his book, The Rite of Lifetime, spans three pillars. First, storytelling excellence. Focus on high-quality branded content. Second, embrace technology to the fullest, seeing it as an opportunity, not a threat. Third, become a truly global company with focus on the audience. Now, let's jump into PepsiCo. With PepsiCo, ex-CEO Indra Nui's strategy, as described in her book, My Life in Full, outlines the strategy program called Performance with Purpose. The aim was to put environmental goals and customer and employee well-being on par with financial goals. To achieve her long-term vision, she classified the brands as products into three categories. Fun for you, better for you and good for you. To help customers make informed choices. She also committed herself to a greener future of PepsiCo, switching to renewable energy, redesigning the brand's packaging to help reduce waste, and doubling down on recycling initiatives. As many of you today's consumers relate, supporting brands that align with the causes they care about is important. This kind of future forward mentality is more important than ever. I thoroughly enjoy reading both these books and highly recommend it. So what does this mean? In summary, owners learn how to influence leadership and drive the transition towards a product-led organization, aligning all stakeholders towards a shared vision that meets business goals. Let's dive into the second pillar, work the problem versus fixating on the solution. As human beings, we often have a tendency to jump to solutions without truly understanding the problem. As owners, it's crucial for us to unloan this habit and genuinely listen to our customers, striving to understand the underlying reasons and the why behind their needs. This approach not only keeps us humble, but also helps us avoid the know-it-all bias. Sometimes, we don't even know we are having that. One powerful technique for achieving this is the Five-Wise. I highly advocate its use, not just for incident postmortems, but also during customer research. The Five-Wise technique uncovers valuable insights. For example, during an incident postmortem, the root cause was identified as a server error. However, upon applying the Five-Wise technique, it became apparent there were additional issues that had to be addressed. The customer messaging was not right. The information needed for teams to turn around quickly was not right. All of these helped provide a comprehensive solution that was not just tactical but also strategic. I highly advocate for this as well as suggest applying this in various forms as you do postmortems and learnings. One more thing on the why is a big advocate of the book, Starting with the Why by Simon Sinek. Next is collaboration. Now that we have honed in on the problem, how do we involve others in the ideation process? It is essential to bring design and engineering teams into the problem space and engage them in customer discussions. I have often witnessed where a product manager brings a solution to the team and ask them to execute it or would want to think, oh, the engineer's time is precious. We'll figure this out and just take the solution to the engineer. That's not helping the team neither the project. However, true empowerment lies in leveraging the thought leadership of the team and aligning them with the problem and desired outcomes without just fixating on the how. When the idea comes from the team, there's greater inclination to adapt and make it work and allows adjustments when the solution doesn't meet the desired outcomes. And we all know the first idea doesn't hit it. We have to adjust and tune things to make the final solution work. This leads to the last bullet, driving outcomes. As we continue to refine the problem, it is vital to have clarity on the goals and desired outcomes. This ensures that done doesn't simply mean shipping of feature or conducting an experiment. It involves validating whether the desired solution is effectively meeting the intended goals and outcomes. If not, it is crucial to iterate and make necessary changes before moving on to the next task or project. I often see sometimes the shiny object, next shiny object syndrome that we want to be cautious about and avoid. I have encountered situations where an experiment was shipped, but during analysis, it became apparent that there was confusion in just the basic definition of metrics and different functions had different interpretation resulting in gaps in their implementation. As a result, the experiment had to be redone after addressing these gaps. Clarifying goals and outcomes helps us to avoid such pitfalls and ensures we are driving meaningful outcomes rather than just checkmarking, saying delivery done and rather than just having a different mix of feature factory. Let's go into the two stories, which are more kind of learning stories to depict this section. First, the story is from my experience at Headspace. We decided to build a community feature with the intention of driving engagement among our users. The intention was fine. However, in hindsight, we realized that we had prematurely jumped to the solution without adequately honing in on the underlying problem. It was a case of succumbing to the fear of missing out on the community trend that was going on during that time. And we realized we had to know it all bias that led us to fixate on the solution and build it with all the bells and whistles. Unfortunately, the end result did not meet our customer's actual needs. This experience taught us a valuable lesson. We had made a significant investment without first testing the concept and gaining conviction through various lightweight forms of validation. It became evident that the belief of build it and customers will come is simply not accurate. I believe many of us can relate to this experience as we all have encountered something or the other in a similar fashion during our careers. The second story is about the Fisher Bend Company, which reportedly invested one million to create what is now commonly known as the space pen for astronauts. And there's a white paper for those curious to learn more. Again, in this case, there was fixation on the solution versus being open to exploring other means to meet the end goal of notes taking, etc. So in summary, owners start with the why. They bring the team along at the problem phase and focus on driving outcomes rather than getting fixated on the solutions. With this, let's move on to the third pillar, which is looking beyond your job role, becoming a virtual leader across functions. To effectively lead and drive success, it is crucial for product managers to adopt one team mindset. Product acts as a glue that holds various functions together. As owners, we have the responsibility to motivate and influence all stakeholders and teams, ensuring that everyone is growing in the same direction. What I call this is the sphere of influence, which extends to external partners and customers, as well as internal product groups such as engineering, design, as well as non-product groups like sales, marketing, support, and operations. Owners try to do justice to do all these functions and avoid biases towards addressing only the loudest complaints or concerns. Watch for this squeaky wheel. Now, let's talk about breaking the silos. An owner mindset possesses the ability to see the bigger picture and identify the patterns and gaps across different roles and functions. As product managers, you are tuned to this bigger picture and how do you take advantage and how do you speak up to address the gaps and drive the outcomes? Instead of falling into a victim mindset of merely complaining or pointing fingers, owners proactively drive closure to identify the gaps and address them. Example in a situation when I saw mistrust among functions, we put together a V team of different cross-function representatives to clearly identify the expectations of each function during the development cycle and what are the expectations during the different handoffs across these functions and roles. This was very helpful for the team to come together, discuss, have a shared one-consciousness viewpoint, and to drive accountability. On to the final point, decision-making. A product manager's role often involves making very difficult and hard decisions. Let's consider the case of roadmaps, which is a well-debated point across all the stakeholders. It's an anti-pattern to have product managers pigeonhole into solely advocating just for features and think that other functions should have their own separate roadmaps if time permits. Well, this is not going to help meet the overarching goals and have the one team mindset. And owner mindset, on the other hand, ensures a unified roadmap that serves the best interest of both the customer and the business. This comprehensive roadmap includes addressing chapter that hinders scalability, resolving the backlog of bugs that's causing customer friction and impacting the brand. Owner mindset establishes a prioritization framework that guides clear decision-making, enabling effective trade-offs and alignment with the overarching product vision. I'd like to talk about the two tactics that apply here. One is the solution excellence and the second is the decision-making framework. As the famous owner and as a famous coach and product leader, Marty Kagan says, solution excellence is about empowering product teams, creating solutions that are valuable, viable, usable, and feasible. This is super helpful to have this comprehensive viewpoint as you do your road mapping and backlogging, because it's not just the feature, it is how the feature was implemented and how the operational excellence support of it is prioritized that truly transforms the customer experience. The second is the decision-making. To empower teams, decisions are pushed down to the product team level. I'm sure many are familiar with the one-way-to-way door decision-making framework, which is widely talked about by Amazon. One-way door decisions are decisions that you can't easily reverse. These decisions need to be done carefully and methodically. Versus two-way door decisions can be reversed. You can walk through the door, see if you like it, and if not, go back. These decisions can be made fast or even automated. So keep in mind as you are going through, are we debating and elevating too much on a decision, which is actually two-way door? How do we push that down? How do we empower the teams in going faster with data and customer-driven decision-making? With that, in summary, owner transcribes beyond the functional boundaries with effective communication and frameworks to model one team. Well, that brings us to the last pillar. Walk your talk. Drive trust by doing. Be courageous to explore and it's okay to say I don't know. You're not expected to be an expert at all or expected to know it all. I usually muster up courage to raise my hand to ask a question when I did not understand and then later on get thanks from others in the room who are in a similar situation but were afraid to ask because of fear of being judged. So don't be afraid to ask and say I don't know. Second bullet, be vulnerable. Be vulnerable to acknowledge when hypotheses don't pan out and embrace the learnings. Do you know research indicates 90% of experiments fail? What this means is failure is part of the journey and it means you have to do various experiments to get it right to get the final success. Also, it's okay to change your stance or alter your decision or accept being wrong as new information surfaces. We all have been through this. This keeps us humble and helps learn from others. Example, I had my team's leadership workshop agenda and then based on listening to them, I realized that I needed to do a better job of checking on my know it all bias and I adjusted it to meet the team's suggestions and acknowledged some of the bias and things that did not go well during my planning. We do monthly manager roundtables and share these aha moments where people are vulnerable and also learning from others pitfalls. In my mind, this helps connect the team and enables us to have the growth mindset. The third bullet, be accountable and be accountable for the impact and have the grid to follow through. Don't run after the shiny object syndrome, rather seek truth and I need to stay true to meeting the goals.  I love this quote from Coach Bill Campbell. Leadership is about recognizing that there's greatness in everyone and your job is to create an environment where that greatness can emerge. With that, it's a wrap from me and in closing, I would like to say be your unique self, be authentic and bring out the owner attitude that's already within you. Think big, trust yourself and make it happen. Have a great day. Thank you.


O ma, what sectors did you approach to input into our low-carbon investment report? We spoke primarily to four interested sectors, firstly the electric power sector, secondly the energy-intensive manufacturing, third was the property and commercial buildings groups and then finally we spoke to several members of the financial sector who are interested in investing in this space. What did you ask those different sectors? The questions essentially fell into two camps, one set around what were the barriers to investment or what might be holding us back right now and secondly their perspectives on what was required in order to unblock the way and allow us to move forward in as quick a way as possible. And was there a consensus about what's blocking the investment? Overall on the high-level findings there was a great deal of consensus, essentially and this won't surprise you people are looking for predictability and stability of policy, a recognition within government of the time frames of some of the investment commitments being made relative to the policy making and the potential changes in the policy. Obviously on some specifics or details in individual policies there would be a divergence of opinion depending on where people are coming from. What did they feel the government can do to help with this? Essentially the recommendations fall into several groups, some around setting more clarity around the long-term vision for the low-carbon environment and some to do with very specific near-term policies that the governments can influence. But what it all boils down to is how can the government help de-risk the investment phase to allow us to begin a serious transition into a lower carbon infrastructure. Are the optimist tickets going to happen? I think the honest view of those for example in the power sector today is that the UK is not on track to meet its 2020-20 obligations. We could be getting on to track but a lot needs to be done. But it's primarily around this whole topic of how can we further de-risk the investments in areas that are legitimate where the government can contribute for example in planning or in green financing.