Good afternoon everyone. So, what we are going to do in this session particularly, first of all I am going to you know kind of spend maybe half an hour discussing the properly constrained, improperly constrained and partially constrained truss, because we have done already truss yesterday and only thing that we have kept in mind that truss is statically determinate and properly constrained therefore, we are able to solve all the forces ok. Now, what we do here also just to give the students a bit flavor that when truss can go actually unstable. So, that is what we are now going to discuss. So, remember that for the truss to be properly constrained first of all it should be able to stay in equilibrium for any combination of moving. And not only that both the global equilibrium as well as internal equilibrium will be satisfied ok. So, what we have said yesterday that we have a simple truss let us say and simple truss is always internally rigid. So, it cannot deform or undergo rigid body motion inside of it right. Now, when it is resting on support we have to make sure that support is appropriately given that means at least we need more than 3 supports for a simple truss we need 3 supports to balance it, but those supports has to be properly given it has to be properly constrained such that no motion is allowed. So, that is in terms of global equilibrium ok. Now, there could be trusses where also it can you know have internal instability and that is also possible. So, what it means is that let us say I have m plus r equals to 2n, but it is still possible that the truss is not stable ok. However, if m plus r is less than 2n then we can always say that the truss is unstable. So, we call in that time that truss is partially constrained. So, m plus r less than 2n that means it is never going to satisfy the equilibrium condition and therefore, it will be partially constrained ok. And when m plus r is equals to or greater than 2n there is a also a possibility that truss is unstable in that case we will just say it is improperly constrained. Now, remember one thing that both partially constrained and improperly constrained cannot be classified as statically determinate or indeterminate because in both cases truss is unstable. We cannot say now it is a statically determinate or it is a statically indeterminate. When we say it is a partially constrained or it is a improperly constrained. So, as I said that m plus r equals to 2n is just a thumb rule to make sure ok can I start thinking about that it is a statically determinate truss, but it is not necessary or it is not a sufficient condition that the truss has to be a stable truss ok. So, we will now just you know kind of continue various problems here. So, first let us look at these examples. So, I have two examples here and the main intention of these two problems are just to bring out you know the essence that is simple truss can also be unstable externally unstable ok. So, what has been done here in the first problem as we see it is a simple truss, but we have put it in two rollers. That means what happens I need to have at least three supports that is absolutely missing here. So, we have two supports that means sum of force along x equals to 0 is not balanced. Therefore, it is a unstable truss and not only that as we can see that m plus r equals to 2n if I go by that logic then in this case m plus r is actually less than 2n ok. So, it is a partially constrained truss although it is a simple truss, but it is not supported properly that means there is a inadequacy in the external constraints there is no problem internally, but still the truss can collapse. So, this will be called partially constrained, but that partial constraint is coming from the external side not the internal side of the truss ok. In the second problem now this is also a simple truss and simple truss I only have three reactions. So, one would think that this is also a stable truss because in this case m plus r is indeed equals to 2n, but remember what will happen again what is missing in this case? Once I apply the load you know like this in an inclined manner then I am unable to balance this truss in the x direction right. So, m plus r is still equals to 2n, but it is a improperly constrained truss. So, the point is m plus r 2n that is just a thumb rule if m plus r is less than 2n it is definitely a partially constrained it will always collapse. If m plus r equals to 2n it is not necessary that it is a stable truss it can still collapse, but we will call it improperly constrained ok. So, just let us do some exercise right now very simple exercises we will be doing. So, all we have to answer that whether this truss is partially constrained fully constrained or improperly constrained. So, let us go with the you know some counting from the very beginning. So, how about the first one? It is fully constrained right properly constrained why because I have a simple truss here at the very first case and simple truss is supported by three proper reactions because this reaction now A x reaction can absorb this type of force also right. So, in the x direction it can also be balanced in the x direction. So, the first answer is that it is a properly constrained truss and also we can solve all of these member forces therefore, it is a statically determinate as well. So, how about the second one? Second one is partially constrained ok why because I have taken out this right member here now what happens to the truss that is important. Now, again we have to kind of you know refresh our memory on method of sections and method of joints very quickly to analyze this kind of truss do I actually have internal equilibrium or not ok. So, in this case what happens we can if we just quickly go by the method of joints what happens this member is under compression. Now, I just use a method of section instantly. So, I will cut the truss here if this member is in compression then how the force will act on this part of the body it will be no it is towards the joint if it is in compression right. Now, this part is a simple truss no issue this part is a simple truss, but I am going to apply a compressive force here that is coming through the member and once I do the movement balance about this point at the left joint then nothing is going to happen right I mean what is going to happen there is no movement balance about that point because what is happening now it is a contradictory in nature because I am telling this member is a compression right. Now, if I apply this compression it is now telling that moment about a should give me this force equals to 0, but that does not happen that means if that force actually presents right that means it can actually turn the truss about the left hinge left in connection therefore, the truss will deform see thinking from the point of view of equilibrium or forces is very easy then that of actually kinematic deformation how the kinematic deformation is taking place that is always complex and you have observed that in the friction problem also, but if you can just remember from the force concept it is always easy I have always number of equilibrium equations must be satisfied you know number of unknown should be number of equilibrium equation ok. So, now that is not happening in this case so, this is my partially constrained truss now how about this one this is not partially just be careful here I have added one this member so that means here I had taken it out again I put it back here. So, it is actually has to be said that m plus r still equals to 2 n, but it is not stable truss same logic applies as that of before ok. So, it will be called improperly constrained just the difference in name partially and improperly ok. Now, how about this just understand first that do we have a simple truss hidden here which portion of the truss is simple truss from here up to here it is a simple truss right. So, if I apply a method of section right here that simple truss is properly supported by a pin support and by a roller support that means I have actually three reactions properly placed that means no matter what happens no matter how I apply the load on that portion of the truss it is always going to sustain the load. So, what I have to now worry about ok what happens to right here this member as I apply the method of section this is also rigid body just a straight line vertical member it is supported by a roller and it is supported by you can say that two forces are actually coming from this, but remember in this case no matter how you apply the loading this truss will be this part will also be stable ok no matter how you apply the loading. So, this will be completely constrained that means properly constrained truss ok. So, we understand the concept basically from the simple truss wherever I have simple truss I am just going to keep that ok and if that is properly constrained then I can say that ok that part is properly constrained then I look at the other part any question yes. Because the section anything then from right hand side again if you take the moment about that point then there is no cost to buy in that moment which one right side right support. This one if I use method of section and you are looking at this side now for this force what is happening it is just going to the support right. Top member is 0 top member is a 0 force member as per the method of joint for this loading now you can incline the loading that means you can just put a horizontal load. So, what happened this member will go to 0 now this member will go to 0 if we put a horizontal loading this member will be 0 if this we take out let us say we put a horizontal force then this member will be 0 right and ultimately force will be transferred here, but this part is stable ok. So, any combination of loading therefore we will hold good for this truss. Now, if you put a inclined load then one force will be taken by this member and the other force will be taken by this member there is no way you will be able to say that there is a non equilibrium of that part. So, sum of force along x 0 sum of force along y 0 sum of moment about a point has to be balanced ok. Any where you take even for that part now some part you know some forces may go to 0 some member forces that is fine it is coming from equilibrium though ok yes it is statically determined that we have first said that count the number of members and number of unknown right. So, I have number of member forces are 16 right and number of reactions are 4. So, total 20 and look at the number of joints we have that is 10. So, that that is that is fine, basic truss is triangle. No it is not, but it was not always true it was not always true what we have said also yesterday that we keep doing that extrusion right we keep extruding 2 members from the basic truss and we make the simple truss. Now, here what is the realization that up to which point I have the simple truss. So, if I can take that out that simple truss I take out and make sure that that is properly balanced then I go to the other part of it and try to analyze whether that is also properly balanced no matter what kind of combination of loading I give. But the complete truss is a truss no. Complete truss is a truss truss has no problem. So, that way then. But I cannot call it the complete truss is not simple truss complete truss itself is not a simple truss. But the equation m plus r equal to n is not satisfied no. Why count no it is not satisfied it is minus 1 why m r 16 there are 4 reactions and number of forces are member is number of members are 16 ok that is ok that is fine see what we are analyzing here in this case that it could be externally indeterminate that is fine. But see what is happening that I have more than 3 supports, but question is whether that is solvable or not it is solvable because I can use the equilibrium for joints I can establish 20 you know equations and 20 unknowns is that clear ok. Sir, one second this truss is externally indeterminate. This truss is both way determinate externally no externally determinate yes we cannot solve the all the reactions by taking the global equilibrium, but then you can go to the joint you know method of joints you can still find the forces. So, it is not you know it is not a good idea to look into even that manner external what is externally I am trying to analyze that whether the entire truss can be solvable or not that is my objective yes right. Now, there could be more than 3 supports or there could be you know 4 supports 5 supports I do not care what I care ultimately if I can find all the forces right and that is fine found here. Now, let us look into this one very simple exercises quickly because we should not take more time for this remember that there is a simple truss right here simple truss right here again you can think this of a compound truss it is a good compound truss example, but what is happening here for that compound truss I need 6 right unknowns that is not happening because one side is a roller one side needed to be hinged in order for to be a compound truss valid compound truss clear. So, as soon as I apply the force in this case and you can see clearly that it is going to actually go to this direction roller is going to move. So, as a thumb rule you can start doing this M plus R you know whether it is 2 N or not it is actually M plus R less than 2 N, but logically when we are applying we can also try to look into we have learned the compound truss am I really getting a stable compound truss or not it is not ok. So, that means it is a unstable and partially constrained. So, the answer is correct now this one I get some hint here how about M plus R that concept do I have the number of you know unknowns equals to number of equilibrium equations now question is ok M plus R equals to 2 N in this case M plus R equals to 2 N. So, can I now see it is a statically determinate and how do I prove if it is if it is how do I show that that it is a statically determinate or properly constrained and if it is not then how do I show it. So, the basis is let us say I do very quickly we can you can try to look at ok we have already learned the method of joints. So, let us say I look into this member how about the force in this member this is a tensile right. So, if this is tensile if this force is tensile then what is this force that is also tensile right. So, therefore, B C is a tensile force question is which part is actually a you know simple truss logic if you look at this one this one this truss right internally it is stable this portion of it no issue internally it is stable. In fact, there is a redundancy here there is a extra member right. So, up to this portion of the truss is properly you know internally stable now you apply that tensile force. So, if I use method of section there is a tensile force here acting which is outward from joint B right then if I take a moment about again the left joint what happens it can rotate about that left joint right. That means equilibrium is not satisfied once I take a moment about that left joint clear. Therefore, it is a improperly constrained truss at the end. See m plus r is still equals to 2 n, but truss is not stable because it can it is violating the equilibrium about you know that left joint. Excuse me sir. Yes sir suppose the P is upward. Suppose P is upward does not matter it has to be valid for any combination of loading. Then the P on the left of B is suppose upward. Fine in one if I want to make a truss stable it has to hold good for any combination of loading. So, if it fails in one combination of loading I can say it is a unstable truss. So, there is no way we can even discuss it further ok right because I have given you a loading for which it is failing therefore, no other questions comes into play is that clear because that is already failed. If it is then that case it is ok, but it is violating the rule for the other combinations right. It has to be stable for all combinations clear. Yeah, what was the issue? How it is supported that cantilever truss? But it has always to four reactions at the one end right. Excuse me sir. So, that truss we are saying as a cantilever truss just like a beam we are supporting that truss along the vertical wall. But vertical wall should have a if you are defining that as a cantilever truss fine. Yeah. You should have a pin here and I should have a roller one end. Yeah. You cant have anything more you know other than that. Yeah, definitely. If you just make a pin then that is unstable, but you do have a roller know that will balance the force. Yeah. Is that clear? Yeah. Ok. Excuse me sir. Yes. The moment we will be shifting this right support to below point B it will be stable. That you can which one? If the roller is shifted to below B that is just left of that. Yeah. And the truss will be stable, no? Yeah. Yeah. If we move it. In case the situation will be like this in that condition. Yes. It is a possibility. It is a possibility. Yes. Because in that case it will be able to take the load. Yeah. Thank you. Ok. That was. Yeah. To change the direction of load in vertical direction. Hmm. And cut the suction at whatever it cut the B C. In that case it will satisfy the. That may. That may. Yeah. That may. But see what I am. Whatever is the force irrespective of force it should be stable. Stable. Now you are putting the force downward. Downward. If it was initially upward then we have to check the by taking the forces in both direction. You can check because when you design a truss. Yeah. I have to make sure the truss is properly stable under all combinations of loading. Right. Yeah. Yeah. Now. It is a by chance here force is downward P. Yes. If it was the. Upward P. Upward direction. Then we have said it is ok. It is ok. It is ok under that particular loading. That particular loading. That particular loading. Yes. That means for total to check the assembly we have to change the direction of. You have to. If it is not given in the problem you have to also make sure checking all the you know integrity we have to make sure that it is a properly stable truss. Ok. It is not a simple analysis but what I am giving here just given type of loading is given let us say if for that we can at least claim that it is not stable then fine ok. So, at least we are checking for one load combination that is not valid. Any other any other questions ok. So, this one quickly. So, it is a very similar problem we have done actually. First just found M plus R equals to 2 and if that is valid or not first of all. That is ok. Now can we identify the simple truss here please.  If you really take a method of section if we apply through D E and G H right. So, that side is a properly constraint truss because it has a in connection and it has a roller and looks like all the force can be balanced there ok. Now we are again concerned about the right hand side of it G H. So, will it be balanced under any combination of loading just do not look at the combination I gave because in this case at least we have sorted out that one part of it is a simple truss and it is going to you know be stable under any kind of loading. So, I am now just concerned about this particular member E H and the connections it is getting from the surroundings right. So, is that going to be always stable or not? It is going to be always stable you can try to figure out if one member on the top goes under tension the other member when the bottom will be under compression. So, that will balance the moment all the time balance the horizontal reaction all the time. It does not matter how I apply the role right clear ok. So, that member E H will always be you know will have a couple acting on it that two member will act as a couple right, but that will be balanced against the forces that is being acting on that particular member ok. Where are the please problem also towards the end this one is very interesting you are not doing please now, but let us say how about this one. So, I said yeah both both are pin connections here both has pins here just you know again you can try to think of you know method of section we cannot apply. How many are improperly constant? Raise hands may be. Is it really difficult I mean can we can we do a method of section here quickly please can you tell me can you tell me which portion is a simple truss which portion is a simple truss internally rigid is not that this portion right. So, I will definitely cut this truss this is also a basic triangular truss right this is a basic truss. So, what can happen if I really cut this right here I am just supposed to get the force here what is this force going to act? Sir. Sure 0 tensile compressive I am getting all sorts of answer that cannot happen just do join this is going to be a. It is going to be compressive. So, what happens now you can clearly see now it is going to be compressive right. So, therefore, I will now put this force simple right here like this towards the joint right and I will take a moment about again left hand what happens unstable it can rotate about that point right therefore, it is a improperly constant ok.


7 Important Questions About Business English What is business English? As a newly qualified TEFL teacher you may well find yourself teaching business English either full-time or as of means of earning extra income. Business English is a specialized area within English language teaching learning and comes under the umbrella of English for specific purposes, Spanish Positas. Business English can refer to the English vocabulary used in business such as international trade, finance etc. It can also refer to business communications such as the language needed for presentation, correspondence, negotiations, socializing etc. Who uses business English? The vast majority of international business communication in English takes place between non-native speakers of English and your students are more than likely learning English in order to communicate with businesses or colleagues in other non-English speaking countries rather than native English speakers. Where is business English taught? Business English is taught all over the world in English speaking countries as well as non-English speaking nations. Demand for business English classes is likely to be highest in urban or tourist centers. What types of jobs are available for teaching business English? The majority of business English teaching jobs are found with private language schools providing courses to companies either at the language school or at the student's workplace. Some companies hire an English teacher directly, either on a part-time, freelance basis or as a salaried employee. You can find business English teaching jobs either advertised on the internet by applying to private language schools or by contacting companies directly. How do salaries compare with normal English classes? Obviously this depends on the many factors including experience and qualifications, but in general as a teacher of a specialized area of English, business English teachers can expect to earn more than normal English language teachers. Why teach business English? As a business English teacher your students will always be adults and therefore behavioral problems in the classroom will be much less of an issue than when teaching young learners. Classes will generally be small. Students are more likely to be highly motivated to learn, though not always. Your students will have a better understanding of why certain activities need to be completed. What are some tips for teaching business English? Try to keep your lesson relevant to the students' day-to-day needs. Be aware that students may be learning outside of normal working hours and this can affect motivation levels. Be aware that groups may be arranged by the company according to the preferences of the students or managers rather than according to language level. Keep company hierarchies in mind when planning your lesson because classes may contain staff of differing seniority and care needs to be taken in order to prevent loss of face. Take a course which specializes in teaching business English. Do you want to teach business English abroad? Speak with an ITTT advisor today to put together your personal plan for teaching English abroad. Send us an email or call us toll-free at 1-800-490-0531 to speak with an ITTT advisor today.


I was emcee for a conference this morning on the topic of digital transformation and I thought I would check in with you and share the main takeaways from the morning because digital transformation is such an interesting and insightful area that has a lot of impact on a wide variety of areas that you and me are working on all the time. So first of all, to set the context of the morning, I came across three statistics that I thought were interesting. Number one is there has been a 54% increase in the number of daily active users post COVID using teams. It is now at 115 million daily active users. And it's interesting when you put that number, like when you hear that number, this is a technology that wasn't in existence a couple of years ago. And now we're at that number daily active users. The second thing is that 76% of businesses are planning long term IT changes as a result of COVID-19. So therefore, they have it that we have found ourselves into being able to work remotely and all of these cultural aspects of the way in which we work, many of them are here to stay and businesses are investing to be able to facilitate that long term when it comes to employment, when it comes to sales, relationship, development and so on. And the third one is that 91% of businesses are engaged in some form of digital initiative. Now, I have to say, I actually thought it was higher than that to think that one in 10 businesses isn't was actually quite surprising to me. But anyway, there were the three, the three statistics that I came across to set the context, then Dr. Orle Flynn opened the morning officially. She is the president of GMIT and absolutely phenomenal lady. She could lead a nation. And you know what? Maybe someday she will. But she was talking about particularly the digital services and the Digital Markets Act, which is designed to give a level playing field right across the European Union. But also, of course, we look at the rights and responsibilities of people who have data, store data, enabling a fair e-commerce environment and so on and so on like that. So she set the very much, you know, the the supranational scene for us as we moved into the morning. Then we had Aidan Keycoin from Paddy Power Bed Fair. And I can summarize what Aidan said in one powerful, impactful line that if we could do this amazingly, we would be able to do so much better with our marketing resources. And he said, maximize the reach and minimize the waste. That's what's to it. And of course, with digital, we are in so much more of a capability of doing that because we're able to track, we're able to track spend, we're able to track results, of course. But also we're able to track the leading indicators that get us there, whether it is A.B. testing about whether an ad is working or which ad is working, being able to target the information, being able to look at the predictive analytics around retention and so on like that. So that's all that's to it is maximize the reach and minimize the waste. But and while easier said than done, it certainly does give a very clear guideline of what one does need to do. Then we had Valerie McTigert from IT Sligo. Really interesting research that Valerie has done. And one particular thing she pointed out is digital transformation is not new. Right. We've been talking about this and doing this for quite some time. However, what's what is relatively recently new and something that is making a big difference to us is connectivity. I don't mean internet connectivity. I mean connectivity in between software, in between apps. So when I'm working on a project now, let's say on my laptop, I have it connected to Dropbox. So it's being backed up in real time as a case in point. So she talks a lot about connectivity and how that is something that has really changed, particularly since 2016 and the the explosion, of course, of cloud computing and so on like that. She particularly said the digital transformation is about culture, business model and process. And she really drove home the point that if you have a suboptimal process, that's simply a way in which things happen and you enable that digitally. Well, then you're enabling a suboptimal process, digital or otherwise. So what you need to do is go back and look at all of your processes and see, are they optimal? Do people buy into them? Because she says you're going to find people who just work around them. And also if you need to lead change, bring your people with you by showing them the benefit for them. For example, I can show you a way to do something that will take 10 minutes less to do per day. This is worthwhile doing now that we have a process to do this, let's digitally enable it. But process is the name of the game. Then we also heard from Brie Conroy from Turtulia, a bookshop in Westport. And she shared her business journey with us about how the bookshop began and also how we developed over COVID and how they got online and so on. But I suppose there was just something that really stood out to me about her story. And it's something that we all need to remember both as buyers and as suppliers is she says, you know, every order matters and it does. Every order matters to a small business. Really, every order should matter to every business. But when it comes to where we choose to put our buying dollars, our pounds or euros or whatever currency you might have, it is important to remember that where we make our buying decisions does dramatically have a bigger impact when it comes to buying from a smaller business, particularly, of course, in an environment like now. And just another statistic for you. I was looking at the retail sector before Christmas for a client and I did some economic analysis into this and there was an increase in the search for shop local Ireland, the Google search for that term by 540%. So the thing is that there is the goodwill out there. There is the goodwill to buy local, to buy artisan, to buy sustainable, all these things.  Now, Elaine Miles then from the Mayo Local Enterprise Office then shared with us the business supports that are available to companies that want to get online. But, you know, afterwards, interestingly, I had a call with a body in the north of Ireland as well. And then she was similarly telling me just about the various different opportunities that businesses have in Northern Ireland to get business supports in order to get online or whether it might be in different parts of the world, it is important to optimise your e-commerce capability insofar as possible. But what is there in many parts of the world, wherever you might be tuning in from, is the support to do so. And if it's not hard support, a hard financial support, like the local enterprises offer at the moment, well, then there might at least be soft supports where you can get insight and easy plugins and intuitively usable plugins where you can collect, where you can create an e-commerce element to your website. Then after that, then we had Kira. We had Kira Galleher from Microsoft Ireland. Now, very interesting to hear two key things that I learned from Kira. I learned lots, but there's two that I've time to tell you. The first is how Microsoft is now looking at a partnership with other wellness organisations so that they're aware that people can get very fatigued from being in a screen all day. They're very, very aware of that. Of course, that's how we do things these days and naturally enough, Microsoft wants us to continue to use it. So they're realising that in order to offset the fatigue that looking at our screens causes us, they're looking at how to partner now with other wellness organisations to be able to restore some of that back to us. And I think that that's an interesting one to watch. From a very technical, like cool tool perspective, you may have come across STT. Now, I have to say we came across this in our business a while ago. It is just so super helpful, productivity wise and such a great time saver. STT is speech to text. So speech to text, so they're just Google certain tools, just Google STT tools and you come across a variety of them. They transcribe what you're saying in real time. So when I'm in a meeting now in a virtual meeting, I have the STT tool on in the background that's transcribing the notes for me. It just basically transcribes the way that the meeting is going. And then I can now fully focus specifically on the meeting at hand rather than trying to take notes at the same time. So what Kira was telling us is that the way in which this might develop in the future is that Microsoft may be doing this, transcribing the meeting, but also highlighting the calls to action and maybe then moving those into whether it might be a calendar invite, et cetera. So that then you don't just have your notes. You also then have your notes with your call to action so that you can move forward from one meeting to the next as you're probably all doing like I am. Delightfully, gratefully, but at the same time that chance to just check in and what you need to do in between looks like Microsoft will be able to help us out with that soon. And now the last speaker that we had then was Brian Hanley from Emergent. Brilliant guy, absolutely brilliant guy, brilliant business, brilliant everything. But I want to share three key things that he mentioned. Number one is that he said, it's really important to deliver value early and often, but what, and he specifically said these words now. So it's important. He said, the way in which you need to think about that is how can we, he said, that's how to start the conversation with your team. How can we deliver value early and often? But he says, you need to define what is value, what is early, what is often. In addition, he also said that it's very important to visualize the work to be done like on a Kanban board. We use Trello, for example, on that. We also use mind maps as well so that we can visualize all that's going on. That's my interpretation of Brian. Brian could give you a much more upskill version. And then he also talks about experimentation. He said, whatever ideas you come up with, get out of the building. In other words, metaphorically, of course, is go out and test these against the market to see whether these ideas are worth pursuing. And then he said, it's so important to ask, are we building the right product and are we building the product right? Last thing just to mention then is GMIT. Mayo Local Enterprise and Mayo Council were behind, behind this entire thing. Norian Henry, Janine McGinn, and also Laura Heckerty did an amazing job and make it all happen. And also check out all of the courses that GMIT have to build your digital transformation and really and truly, brilliant day.


Good day, fellow investors. Today we're going to talk about conference calls, analysts, research and then Occam's razor applied on to that. Not about simplifying investment in index funds, that's clearly not that I'm going, not something I'm going to talk about using Occam's razors. But I'm going to talk about something very, very important. Recently, MIFIT2 has made changes to the research budgets over the last 12 months for investment firms, etc. I had to close down my small Dutch investment fund because of them, because of higher costs, because it simply didn't pay. But apart from that, the changes will have an impact on reporting of medium and small cap companies resulting in less and weaker coverage. This deficit will only increase over time. The lack of coverage can result in less investors and lower prices and proper research will allow a value investor to exploit this situation. So let me give you a story about this, how it works, etc.  If you look at a recent Chinese IPO for the first 40-45 minutes, they just read the report they have published and they do it in Chinese and then they translate it into English, which is a waste of my time because I can read it myself in five minutes. And then you have analysts, analyst questions. Many of them have no analyst coverage, so there is one poor analyst that is probably dragged there to ask a question. So there is absolutely no coverage. Small European stocks, similarly. And then only as the focus is on the big companies, because there is where the money is, you can easily sell an Apple, a Facebook, an Amazon. If I would talk only about those stocks, my channel would be much, much bigger. But if you focus on the smaller ones, the undervalue, the uncovered, the unlike, you can find great opportunities if you're willing to do the research and dig into the boring. And now we have an advantage, a tailwind that comes to that, because of new regulation. Further on this conference calls the smaller the company, the younger the analyst, the less experience, the more sectors the analyst covers. So it's really not a lot of added value. For example, Alaser Gold, Goldminer that has been saying that they will increase production 100% in 2019, that they will make more money cash flows usually had one analyst that was following the conference call, just one. And then all these analysts, even if there is more, they just simply put the information in there already stamped out, already formatted reports, and they send them out. And I recently compared about nine investment reports on a Chinese toll road stock, they were all the same. Just what is different is their comparison that discount rates and things like that. So unfortunately, institutional investors really look at those reports because they are not doing their own research. As we have discussed in the Seth Klarman episode, that research is really low rated. So if you do your research, you can take advantage of what's going on. For example, just a funny note here, just in one of 500 conference calls that I listen, attend, only just rarely it is really fun like this. So, Compañía de Sanamento Básico de Estado de São Paulo, Sabezp, the next question comes from Senal Armin, with Windacre, who was an owner there. So not an analyst, he really had skin in the game. And he asks, I have two questions. One, the SSP tariff review, I think is essentially stealing over one billion Brazilian reels from shareholders and EBITDA every year. I think actually even more than one billion a year, which is a terrible result. I want to know in more detail, what are you guys going to do to protect the shareholders and get the situation corrected? And second, what can you do on both OPEX and CAPEX to preserve the company better? Because you're not getting credit, especially on the OPEX side, you're not getting credit for what you spent. So how are you going to spend less so that there isn't a huge difference between the regulatory model and what you're spending? So this was really fun, that I was reading it and I said, oh, okay, this is how our conference calls should look like. Most of the conference calls is just about boring coffees. It looks like more that somebody is going to be executed in a boring way. So it's really a terrible environment. And now with new regulations where investors have to pay for research separately with brokerages, it means that there will be even less researchers, less analysts that will increase the opportunities for us that are willing to dig into such an environment. The fact is that investment research has to be separated from the other brokers services. So they will now charge a subscription for written research plus additional fees for chats with analysts. So 60% of asset managers answering a survey from Trading Network LiquidNet stated that as a result, they had reduced the number of research providers they draw on. So Mithi2 will probably cut research spending and brokerage revenues. And this seems to be happening. For example, Economist Magazine recently quoted a McKinsey report stating it's now estimated that the sales side commissions from equity trading in Europe have already fallen 30% in the last 12 months. Others have predicted an acceleration of mergers and that's exactly what happened as Allianz Bernstein, a fund manager acquired autonomous research. So less researchers, less analysts, and the market is really high now. So in Europe, there will be less coverage on the small caps, more potential for us to take advantage of. I listened to this conference call about miners, for example, or some other smaller companies. There have one analyst and you can see, okay, mostly it's the cheapest analysts they have, the youngest that is sent there. Nobody really cares about those things. Everybody is focused on the big companies because they're where the money is. With even less coverage, with perhaps a decline in the market, budget cuts, there is even less coverage. So there will be more differentiation, there will be more irrationalities, less information and more advantage for those who are willing to do the work. So thank you Mithi2 for lowering the bar for us and increasing our potential returns. And here we come back to Occam's razor. In this case, less research, less coverage, less knowledge, more irrationalities. So the simple explanation of why something might be undervalued is simply there is nobody covering it. But you have to, okay, no, you have to do your research, you have to do the process of finding those small little gems. How to do that? Look, read Trade Magazine, listen to conference calls, listen to other conference calls in the sector, sector-related, to get the feeling, okay, what's going on, what will happen, etc. And it takes a lot of time, but I can guarantee you, as you see with some of my stocks, for example, Navson or something, okay, there can be an advantage there. So that's it. That's what I do. Thank you for watching. Hope I have just shown you a glimpse of how things work and how I work. Looking forward to your comments and I'll see you in the next video.


The great, such a large emotional meeting has been happening in many of the states. The strength of the Karnataka, the strength of the people of Karnataka, the strength of all the industries who are able to shop in Karnataka, the confidence of the economic people, especially happening in Karnataka, is the main reason to have such a large emotional meeting in Karnataka. In Karnataka, the community in Karnataka has happened many and often. We have a larger social, attractive church. Ask for the five quarters, the eight percent of the countries. Yeah, welcome to the Honorable Prime Minister. Hello everyone.  Ladies and gentlemen, I am standing in front of you to welcome the leader who has given new direction to the economic growth of our country. His slogan of make in India has changed the entire economic scenario. His Aatman Irbar Bharat, then Sapkashat, Sapkavikars and ultimately the new India concept. Hereby, I welcome Honorable Billard Prime Minister Narendra Modiji, University of Karnataka, 2022, to warm greetings and request him to bless us. Not only this University of Karnataka be successful, the economic growth of Karnataka in the great India will be successful. I once again welcome global leader to this University of Karnataka. We heartily welcome the Honorable Prime Minister of India. We request the Honorable Prime Minister of India, Shri Narendra Modiji to kindly deliver the inaugural address. Ladies and gentlemen, please put your hands together. We welcome the Honorable Prime Minister of India, Narendra Modiji. Greetings to all the Prime Minister of India, Narendra Modiji. Namaskar. Global Investors Meet me. Welcome to India. Welcome to Namba, Karnataka. And welcome to Namba, Bangalore. Welcome to Namba, Bangalore. Welcome to Namba, Bangalore. Welcome to Namba, Bangalore. Welcome to Namba, Bangalore. Welcome to Bangalore. Welcome to Namba, Bangalore. 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The Cube at IBM Impact 2014 is brought to you by headline sponsor IBM. Here are your hosts, John Furrier and Paul Gillan. Paul Gillan back at Impact 2014 in Las Vegas with the Cube Silicon Angles flagship platform and we're exploring what's going on here at Impact 2014 where it's been all about cloud and mobile and data analytics. And with me is Steve Robinson, general manager of IBM Cloud Platform Services. This has to be a busy show for you because cloud has been in the centerpiece. They all seem busy these days, but yeah, great kickoff this morning, great crowd turnout, it's just been outstanding so far. Yeah, and the cloud platform is kind of the star of the show and let's talk about the new announcement this morning, the IBM Cloud Platform, the Cloud Exchange, Cloud Marketplace I should say, and how strategic that is to IBM developing its presence really as the foil to Amazon, if you will, then the cloud market. Well, I think as we were looking at the marketplace, we had taken quite a bit of a look at other app stores and we wanted to see if we could take it a bit further than just simply buying simple components out there. It's an enterprise store all the way across the board. We structured it so that we have components for the infrastructure of the operations manager. We have our whole SaaS portfolio for the business leaders themselves. And then of course, right in the middle, we have for the developer, we have our Bluemix platform and all the associated services around that as well. But more than just simply buying the component, we're also adding to it easier ways to discover, to be able to learn about the products themselves, demo capabilities, sample code, source code as well. So we're kind of trying to use it as an entire knowledge store so that customers can better learn about IBM's cloud strategy and hopefully apply that to their cloud strategy as well. We were talking with Sandy Carter a little bit earlier today and she was talking about the marketplace as really being a social phenomenon, as a whole social dimension to it. It's not just about what we think of marketplace as typically going download an app. It's about building on other people's work and combining different apps. Tell us how that works. Well, I think what you'll find is, it's a very broad reaching. So it'll go all the way from what you would find as a virtual infrastructure and software all the way up to Cognos, which is a very rich software as a service as well. But around the composable component piece, especially around the Bluemix part itself, we've started bringing in both IBM content and third-party content that really lets you construct and assemble some fairly sophisticated applications as well. The key with this one, we brought in some of the market leading services so you'll see your new relic, you'll see your Redis Labs, you'll see your MongoDB. And I think it'll be the first time that their communities can really see what IBM has to offer in this space as well. So if I want to license use of those modules, how does the licensing work on that? Yeah, in most cases with IBM, of course, with our components, you'll be able to download them and do a pay-as-you-go model. So when we go full commercial in the late June timeframe, you'll be actually go in there and swipe the credit card which is a little unique for IBM, but we're making the elephant dance to be able to do this as well. With most of the third-party services we have in the marketplace, we're allowing them free trial until, again, that late June timeframe as well, but we'll be able to do a transaction with them, pass the license back from them, so it'll all be clean on both sides. But really, I mean, is making money, the goal here at this point, you're trying to build mind-share, you're trying to get action. It's all about ecosystem, it's all about community, it's trying to bring the best parts there as well. I think the partners have been excited because it gives them exposure to a customer set they probably are not seeing from their independent site. On the flip side, I think it's going to give IBMers and enterprise developers on our side kind of some new view into some new, very talented software programmers as well that they may not have seen. So I think I'm kind of brokering communities at times, a matchmaking between the two. You mentioned SaaS apps. Now, IBM has some SaaS apps that you've built and acquired and then you're working with third-party SaaS apps as well? Definitely. Now, IBM's been on an acquisitional, I don't know if tears the right word, but over the past seven years, we've built out quite a substantial SaaS portfolio. You'll find Cognos, you'll see Sterling B2B, Konexa, BlueWorks Live. We've just picked up SilverPop a few weeks ago, a Spara that does the data movement for Netflix. So very rich portfolio. Now, these are full-sizes. Most of them, you can lay them into any size company and you're going to get value almost right out of the gate to them. You can do extensions to them, but you're primarily using them as they come. And then on the services side, on the composable services side, we've been adding the components around the BlueMix architecture itself to allow you to kind of start to build out what you could do with other PaaS environments as well. How long has the market been spying to BlueMix? You've had it just really a few weeks to begin to evangelize this. How has the market been spying? Yeah, we launched it at Pulse about eight weeks ago and it's just been unbelievable. We've already filled up our first data center. We're on to our second one right now. We're also speeding up the internationalization of that. So we're going to be following soft layers. They expand their pods out to have BlueMix with it as well. Based on Cloud Foundry, we predict today we're probably running the largest Cloud Foundry instance in the world with as much folks we have on top of it. So it's been outstanding. We've seen folks already rolling code into production only after a week or two. And in a lot of our major enterprise accounts, we already have pilots, hackathons, innovation activities going on with them as well. Is it fair to look at BlueMix as being kind of a successor to WebSphere or a cloud version of WebSphere? Some people do. I think if you look back to see what WebSphere did for IBM, it really became a backbone framework that all of our middleware could then flow and then run on top of. That was a very critical time for IBM and it really gave a boost to our overall middleware portfolio. We kind of view the same thing with BlueMix, where we're really regarding it as almost a new platform, new channel for IBM, and it's Plethora, a very advanced enterprise software as well. So you can see from pulse to what we announced today, we've already rounded out over 40 services within IBM and we have every single brand working actively to make sure that their components ride out on top of BlueMix. So are you saying essentially that all IBM apps will be BlueMix compatible or will be available through the cloud? Well maybe not apps, but we're using the technology and the capabilities to, we're doing a lot of work now to show the brands what makes a good service. So our big data components, we had those at the show this week for new pieces, Internet of Things. We announced Node Red so we could tie in some of our sensor and embedded engineering work with it as well. You see our DevOps from the rational side coming right in with IBM DevOps services. So right now every single brand has a team working on driving new content into BlueMix and we're going to continue to roll it out almost every month. So it's safe to say that any software I can buy from IBM on-premise at this point, the goal is to make that available through BlueMix? Well at least offer gates to it. So we announced today Cloud Connector and we also announced Cast Iron Live. So if I'm using DB2 or I'm using a transactional environment on the back end, we'll have services that allow you to bridge to that. But our expertise is data, it's analytics, it's transactional environments, et cetera. We will have service versions of those on BlueMix as well. It may not be the identical type because one's on-premise, system or record, but we want to take that expertise and expose that out through BlueMix so that we can build those system of engagements with it as well. And explain some of the benefits of using the software as a service. When you have the choice between a comparable on-premise or a cloud service, why would you choose to use the cloud service? I think what we're finding right now is it's all about speed. That most firms today are dealing with their traditional IT infrastructure that they have there and they have in-house. But for new pilot projects to reach new communities, to reach new customer bases, how fast can I get it out there? When I run on the paths, I don't have to worry about anything around infrastructure as well. As soon as I hit add application in BlueMix, it's running now on top of software. So all my energy can be spent now on the creativity of that application. You're reaching a new customer set with it, doing A-B testing that I couldn't do before, and I get almost immediate response back. For the cloud marketplace, now who is the core audience right now? Is it developers mainly? Is it commercial software developers? We've set it up as kind of three major categories. And if you go into the top level, it's IBM.com slash cloud, and then there'll be a marketplace tag there. So we've broken it into the operations manager. So they'll be able to go in and see all of the software components from bare metal servers to virtualized environments to virtual machine images, et cetera. You'll also see system management software. So the guy that's running the infrastructure, you'll see a full set of components for them as well. For the business user, we've segmented that by kind of the key roles in the organization. So you'll see for the chief marketing officer, for the CFO, the financial officer, even the legal team, you'll start to see us catalog the SAS properties that helps them do their job as well. So if I'm doing executive commission planning on a legal team, we have SAS properties for that as well. If I'm doing B2B with Sterling, there's SAS properties for that. And then the middle tier is for the developer. So the developer, we have the blue mix there, front and center. We have all the IBM pieces that cover data, that cover mobile, cover communication, cover infrastructure, and we have the third parties in there also. In terms of mixing and matching services from multiple providers, what guidance are you giving your partners to expose their services on a piecemeal basis so that I can combine a payment service from one company with an order fulfillment? We're doing a lot of education with them as well. And I think a lot of them are just getting pressure from the marketplace at the same time. What makes a good service? How do I start to break my larger application up into something that's composable? So we're helping them understand how to quickly get on board. Many of them will just take their SAS application and host it on software, then work with us a little bit to start doing, opening up some APIs to that and we can wrapper those APIs. And then I think the further step is actually starting to use some composable assets as well, where it's there, it's tightly bound with blue mix. And I can start using it as a jigsaw puzzle piece with other pieces to start to build out brand new applications. For companies, I'm speaking of your customers who were building using service-oriented architecture years ago. Is there a migration path for them to apply that to the cloud? Yeah, and I started back in the object-oriented days. So, you know, we had OO, we had SOA.  I think the general concepts are good. Those that had done a lot of work around service-oriented architecture, the notion of service brokering, the ability of extending and binding those connectors, they all have kind of AB equivalents in kind of the new open cloud world. And I see a lot of these players have also been some of the early ones that have started providing the databases, the analytic packages, the Hadoop platforms, et cetera. So I think if a customer had been going down an SOA path, a lot of that architecture and approach is very transferable into this domain. How ultimately, give us your website says 200 days of blue mix. Yeah. You have a, is there a timeframe that we should look for six months from now, 12 months from now, and metrics that we should apply to decide has blue mix really been successful? Well, we look at it daily. I'll tell you that. It's a very hyper-competitive market right now. We're watching all our friends out there with regards to what they do. Part of what we're doing right now is community building. And can we build up tens of thousands of individuals running on blue mix, also getting footprints into our major accounts, also getting the major service providers up and going on the platform itself. We feel like we're being very successful on that as well. I think it's always the race to, can you get a major community built around you? And within a year or so, I think we'll have a very substantial community built up around blue mix that we can easily stand up across everyone else. Some of the other platforms have had a year or two to be out there, but we're tracking our progression compared to theirs, and we're extremely pleased with the acceleration that we're seeing. And how does this play to IBM's positioning of the hybrid cloud? I've been, clearly, your comeback against Amazon has been that hybrid clouds really are where the action is. How does this play to that message? Yeah, we're kind of using the term today at the show on dynamic cloud. And I think that's what firms are dealing with. You know, most firms are trying to deal with three basic architectures. They're traditional IT, they're private cloud, and how they're virtualizing that enterprise IT organization, and then the public cloud itself. In most cases, our customers have spent years and decades on highly valuable assets that they have in that traditional IT infrastructure. It's where my databases are. It's where my records of business are. It's where all of my, how I do my business, the processes are. Then how can I extend those safely out to the public cloud? And I think this is one of the areas that IBM will be able to do the best. How do I bridge? How do I do it safely? How do I handle the data protection with it? How do I really let me further amplify those assets out? It's nobody better. The enterprise software space is longer than all these guys combined, and if we can't get that one right, just take us out back. We gotta hit that one back. For WebSphere users in particular, what's the migration path look like? We've done some great stuff. You know, one of the most popular services we have within Bluemix is our Liberty Build Pack. And it's a Java-based Build Pack that connects directly into WebSphere. Most of them are picking that up and they're not even skipping a beat. They're actually taking existing applications and working directly with it. We also announced CloudConnection, both Cast Iron Live and CloudConnector, and this gives them direct access to their legacy environments. We have pre-built patterns for that as well. And also we have another application stack that is kind of below Bluemix. It's called our Pure Application Stack. And you can almost take existing WebSphere applications and infrastructure, host it directly on software itself, almost zero modification. And that's a great way to start playing around the public cloud with almost no modification to your code at all. You mentioned Pure and it reminds me of Pure Systems, which is sort of built for the cloud. Is there any particular advantage to Pure Systems customers, companies adopting Pure Systems because of that bridge to Bluemix? I think, you know, we kind of view it, where are they starting from today? So if they've been long-term users of IBM Middleware, they've got existing structures up, they've already got those pieces very well integrated. Pure is a fantastic way to take advantage of the virtualized infrastructure, et cetera. We talked to a few partners today that were doing a little bit of debate between Pure and Bluemix. And if they were starting fresh, you know, kind of becoming a fresh born-on-the-web type of thing, they're just going to Bluemix right away. And we'll start to build more bridges so that the patterns are a little bit more portable between the two, et cetera. So we'll offer several paths for them to get there. And in terms of the marketplace, what will the payment structure be like? How will that evolve over time?  Very low, and we'll announce commercial terms probably in the late June timeframe. It'll look similar to what a lot of the marketplaces have, you know, be a percentage here and a percentage there as well. For Bluemix itself, what we're looking for is kind of a couple of steps. First, using the environment, I'll be able to swipe the credit card and do pay as you go. We'll kind of let you build up a bill of material around the application that you have. We'll also offer subscription-based services, so for, just like your cell phone bill, for a fixed cost, X amount a month, you'll be able to use this much capacity as well. And then, of course, we'll also offer for those firms that fully standardize on it, ability to wrap with that into their enterprise license and to their big traditional contracts with IBM. Are there any special programs for business partners to move their development operations to the cloud? We're doing three things, and I think what we're looking for are those that are already on software, that's a very prime target space that we're looking for. And you'll see a lot of the, some of the most popular services out there are already on software, so you'll see Cloudant already out there, you'll see Redis Lab already on software, you'll see Syngrid, so those are very easy ads to the marketplace itself. Many of them we're working with right now is how do we quickly get connected with Bluemix, so you'll see folks like Zend who have had virtual images that are now gonna be working on making Bluemix components out of that as well. And then the final group that we're working on are those that have been working with our large SaaS portfolio, such as our Cognos, our Sterling, et cetera, and they're part of that ecosystem, so that's another group that we want to pull into the marketplace as well. And IBM has been on a major campaign to convince its business partners to move to an MSP, a managed service provider model. Is this part of that mix? I would view that kind of a little bit below. We do have a very vibrant MSP program with an IBM, which is more of a combination of services with software. We use it quite a bit, say, with our security. We run a security operation centers for many, many accounts, and we have a lot of partner software in there that we run on a seven by 24 basis as well. The marketplace itself we're looking for more freestanding software, so this would be something that they could use to utilize, now whether they use IBM services or their own, their choice. Steve, we'll give you the last word on this. For those who are doubting that IBM is all in on the cloud, what do these announcements say to them? Well, I think what you're seeing is kind of the third step in a very serious progression. It was only about nine months ago when we picked up SoftLayer, and that gave us a rock solid, tremendous infrastructure. We followed that quickly with about another billion dollar spend around the BlueMix launch and the services associated with that. We just announced another expansion of SoftLayer to 40 data centers, and then you see today kind of more of the marketplace being launched, which really builds out our ecosystem, and then the additional services on BlueMix. We are all in, the chairman's fully behind us, and you see the momentum is unlike anything I've ever seen in my career at IBM. And certainly SoftLayer emerging as the jewel in the crowd for IBM's cloud strategy. Steve Robinson, thank you very much for joining us today. As you can see, the cloud is the theme here at Impact 2014, some big announcements, and IBM making it very clear that this is something that the whole company is behind. We'll be right back after a short break with our next guest.


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