Hello and welcome to the session. This is Professor Farhad and the session would look at how securities are traded. Specifically, we're gonna be looking at the various markets that exist and the order types that exist as well. This topic is covered in an essential or principle of investment course, whether it's a graduate or undergraduate. As always, I would like to remind you to connect with me only then if you haven't done so. YouTube is where you would need to subscribe. I have 1,700 plus accounting, auditing, finance, tax, as well as Excel tutorial. If you like my lectures, please like them, share them, put them in playlists. If they benefit you, it means they might benefit other people. Connect with me on Instagram. On my website, farhadlectures.com, you'll find additional resources, the supplement and compliment your accounting as well as your finance education. I strongly check out my website. The first thing we're gonna look at is the four types of markets. And those are, the first one is Direct Search. Direct Search is the least organized type of market. Simply put, it's not active, it's sporadic. Simply put, a Direct Search is basically, if you want to sell your car, you may look for a specific seller. So there's no market out there.  So you're dealing with your friends, with your family. This is what's called the Direct Search Market. We also have a broker-dealer market. The broker-dealer is more active than the Direct Search because the broker, the person that's working in this market, they find it profitable. It's worth it for them to offer search services to buyers and sellers. What are we talking about here? What would be a broker market? A real estate agent, a real estate broker, because there's a lot of people trying to buy and sell homes. So what you do is you become a broker and this is what the broker-dealer market is. Also another example of it is investment banker. Investment bankers, what they do is they find buyers for companies who are issuing stocks for the first time, which is called the primary market. That's also a broker-dealer market. We also have the dealer market. And the dealer market is NASDAQ. It's an example of a dealer market here. The activity, the trading activity is very active. Otherwise, the dealer don't make a profit. The dealer here, they specialize in various assets. When we're dealing with NASDAQ, usually stocks. And dealers, they purchase those assets for their own account and later they sell them for profit from their inventory. Simply put, think about a store. This is what a dealer market is. Well, if you own a store or a supermarket, what do you do?  So from a dealer's perspective, they have what's called the bid price and the ask price. What is the bid price? The bid price, it means from a dealer perspective, they're willing to buy. For example, let's assume this is we're dealing with Apple stock. They're willing to buy Apple stock for 365.49 if you want to sell it. But if you want to buy it from them, they will sell it to you for 363.52. You might be saying, hold on a second, aren't you buying less than what you're selling it? Of course, because this is the spread. The spread here is three pennies. The spread is the dealer's profit. Now, is the spread always three pennies? The spread depends on manufacturer. One thing is the riskiness of the stock. If the stock is not active, it doesn't have liquidity. It doesn't have depth in the market. Well, the spread is higher. Why? Because you are taking a risk when you buy and sell that stock. Also the volume. If you buy shares in 100 lots, the spread is usually lower because this is how shares are traded. Also the availability. If the broker has the stock available, if the dealer has the stock available, then they're gonna charge you a lower spread than if they want to go out and buy it. And this process happened within milliseconds. So let's assume the dealer does not have the stock. It doesn't mean they have to spend time, go look for it. Automatically, their system will go ahead and buy it from somewhere else, but you might have a higher spread. So the availability also matters. We also have the auction market, the fourth type of market. What is the auction market? Think about the NYSE, where all the traders can converge to buy and sell into a one location or one electronic platform. This is what an auction market is. Market three and market four, this is called the secondary market. And what is a secondary market? It means we're traders, investors among themselves, trade stocks. So when I buy stock, today I bought stocks, today I sold stocks, I am dealing in the secondary market because I bought those stocks from another person, from another dealer. I'm sorry, could be a dealer, but not from the company itself, not primary market. So the dealer market and auction market mainly deal with secondary market. Now, moving from market to order types. When you buy and sell stocks, you have two type of orders. You have market orders and price contingent orders because you have many of them. So let's take a look first at market orders.  You want to sell or buy as soon as possible. So market orders are to buy and sell to be executed immediately. Speed is what matter at the current price. Now I put the current price in quote because you know, you don't know the current price, you know the latest price, but what you sell at is the next price. You don't know what the next price is. So let's assume there is a bid price of 365.49 and an ask price of 365.52. And let's assume you want to buy Apple 365.52. Well, here's what's going to happen. Let's assume this is I'm logged into my account here and I want to buy 100 shares of Apple and this is the bid and this is the ask. So basically that's the bid and that's the ask. And basically if I want to buy it, I'm going to be buying it at the ask price 365.52. Now this is the last, this is the last ask price. It doesn't mean I'm going to buy it at 365.52. There's a good chance I will because first of all, I'm buying 100 shares, okay? And Apple is a heavily traded stock. So there's a lot of shares traded out there. But if I want to buy 100,000 shares of Apple, yeah, I wish I can, I can do that. Then although the ask price is 365.62, when I place the order, most likely it will be a little bit higher unless there's somebody else who wants to sell 200,000 shares of Apple, then the price could be even lower. The point is what I see if I place a market order, this price is not guaranteed. The 365.52 is not guaranteed. This is the latest time the Apple was sold at, okay? So the next time it could be close to it, okay? So this, remember the market order, it's not guaranteed, it depends on many factors. So the posted prices are actually, actually represent commitment to trade up to a specified number of shares. So they could be for 1,000 shares, but if you want to buy 2,000 shares, there's a good chance the price could go up unless that moment specifically, somebody else wants to buy 5,000 shares, then you could even buy it less than what you were seeing. The point is you don't know the price. Now if you buy S&P 500 stock price, there's a good chance you may get that stock within few pennies, but if you buy Russell's at 2,000 stocks because it's not actively traded, the price could be different. So the best price that was quoted may change before your order arrived. So make sure market orders, you may not get that price exactly. So cause and execution at a different price from the one at the moment that you saw the order. Now, so what should you do? Well, what you should do is you should place a price contingent order. And what is price contingent order? Here you specify what price you want to buy at and what price you want to sell at. So the investor may place orders specifying prices at which they are willing to buy or to sell. Here you are specifying the price. So you might place what's called a limit by order and you will instruct the broker to buy some number of shares if and when they obtained a below at or below stipulated price. And we'll look at an example in a moment and you could also place a sell limit instruct the broker to sell it when the price rise above a specified limit. Let's take a look at an example. And again, this is from my brokerage account showing you a sample. Let's assume I want to buy 100 shares of Apple. Okay, so Apple, I want to buy 100 shares quantity and I want a limit. Right now, if I want to buy the latest trade is 365.52. Well, guess what? I want to buy it only if it drops to 360.25. So notice the bite, the limit is I place it below. Because think about it, I'm not gonna ask the computer to buy it at 366. Why would I do that if I can buy it at 365.52? So I want to buy it once it reaches 360.25. Once it reaches 360.25, assume when somebody is willing to sell 100 shares at that price, which is Apple's very active, I will buy it. Now the same thing could happen. If I want, if I have Apple shares, I can sell the 100 shares at a limit. So let's assume it's traded at 365.52. And I'm concerned, I would say, look, if it reaches 364, sell it. Means I want to sell it, if it's keep on dropping, I want to sell it at 364. Or if I want to sell it at 365.25. Or I want to sell it when it reaches 366, I can place that order. So the sell is basically, once it reaches a certain price, if I have it, sell it for me. So you could have a buy or a sell limit, buy or a sell limit. Now you could also have what's called, if I have shares of Apple, I could have what's called a stop. What is a stop? It means once, once, let's assume it's trading right now, notice selling at 366.22. And let's assume I'm concerned that Apple might keep on dropping. So I'll place a stop order. I would say once it reaches 365, once it reaches 365, I'll place the order to sell 100 shares. Once it reaches 365. So hold on a second. What's the difference between the stop and the limit? Stop means it means once it triggers that price, the next, the next, or the next trade will be yours. So it reaches that trigger point. So once it reaches 365, it may go up to 365.25. Or it may go down to 364.75. So it reaches that stop yourself. Same thing when you want to buy. Let's assume you want to buy Apple. You'll tell the system, once it reaches 370, you want to buy. You may buy it at 370, but you may buy it at 371. Look at the different color. Or you may buy it at 369. Look at the different color. Okay, I'll pick the green. Is that okay? Yes. Okay, that's it. Okay, Dada. Okay, so my son wanted me to change the color. So the stop order basically, once it reaches that number, you may buy it at 370, or you may sell it at 370 or buy it. Or it may not. Once it reaches that price, it triggers. There's also stop, then limit. Stop means it's one, it reaches that. Once it reaches 370 or 360, then you automatically place a limit order to sell it at 359. Then you specify what you want to sell it at. So it's a stop limit. And the same thing, there's a buy stop limit. It means once it reaches that price, I'm gonna place a price test to buy it. Because the stop alone, you don't know what the next rate is. The stop limit, it triggers, it got there. Then you wanted to buy it or sell it at that point. Let's look at the trading mechanism. So how do you buy and sell stocks? Well, an investor who wishes to buy or sell shares, you place the order with your brokerage firm. Usually it's on the computer. You don't call them or see them or anything like that. Broadly speaking, there are three ways, three trading system employed in the US. One is over the counter, OTC. The other one is electronic communication network. And the third one is a specialist market. The electronic trading is by far the most relevant. Simply put, over the counter is electronic. And obviously electronic is electronic as well. Specialists is a little bit different. We'll talk about the specialist. So those, but the best known market such as NASDAQ or the NYSE actually uses a variety of trading procedures. The NYSE, they still use this market, this specialist market, NASDAQ uses electronic platform. So let's take a look at the over the counter on specifically we're gonna talk about the NASDAQ. What is over the counter? Over the counter is an informal network of brokers and dealers who negotiated sales of prices.  And there are roughly 3,500 securities traded on the OTC over the counter. And there are thousands of broker dealers registered with the SEC to trade on this platform. So basically in 1971, this is how it all started. The National Association of Security Dealers introduced its automatic quotation system or NASDAQ to link broker dealers in a computer network where price quotes could be displayed and revised. So when NASDAQ started, it was just only a system, a computer system. Think about the 1970s computers where they could show you the price of the stock. What's the latest price of the stock? Now, if you want to buy and sell, you would have to actually talk to the other person, talk to them on the phone. So dealers could use the network to display, notice to show the bid and the ask prices, which is price quotation. Now NASDAQ obviously had progressed far beyond just a quotation system. Now the system can execute the trade. Now market allows for electronic execution at quoted prices without the need for direct negotiation, without the need to call someone. And the vast majority of trades are executed electronically. In the next session, we'll talk a little bit more about the rise of electronic trading in the US. So we'll talk about this topic a little bit more. Another system at electronic, the ECN, which stands for electronic communication network. And this one is basically its electronic system, allow participant to post market and limit orders over a computer system, over a computer network. And we'll talk about those again in the next session. The limit order book is available to all participants. So all participants who participate in this network, they can see the limit order. They can see what prices people are willing to buy and sell at limit prices. Orders that can be crossed, it means the system will match them. So if there's somebody wants to buy Apple at 365, buy 100 shares, and someone wants to sell Apple at 365, 100 shares, the system will match them. Now, I do participate basically, I do have access to this ECN. Actually, I will show you in a moment on the next slide. For example, in order to buy shares at 149.75 or lower will be immediately executed for 149.75 when there's somebody is willing to sell. So it automatically does this. ECN are through trading system, not price quotation. They're computer networks that allow direct trading without the need of market makers. They're attractive because of the speed at which the trade can be executed without any intervention. Now, I do have access to the ECN system. I don't know exactly which ECN system, but basically once the market closes, I have Charles Schwab account. I can go to my extended hours and I can click on the extended hours. Now the extended hours are closed, but when you click on the extended hours, I can buy shares when even the market is closed. Why? Because I'm part of this ECN, my Charles Schwab account is part of the ECN and there's somebody else out there. If I want to buy, they want to sell. If I want to sell, they want to buy and they matched us electronically. Now there's the specialist market and this is basically kind of old in one way or another, not old, but it's going away little by little. The specialist serves as a dealer and the stock and provide liquidity to other traders. So what is a specialist? It's usually a company, but represented by a person, but a physical person on the floor. So brokers wishing to buy or sell shares for their client, direct the trade to the specialist, post, there's a post, there's a physical post on the floor of the exchange. Let's look something like this. And when I worked with Merrill Lynch long time ago, they took us to the NYSE, we were just new employees and they showed us all of this one day. So basically the way it works, let's assume this is the specialist. Let's assume someone in California, they want to buy 100 shares, 100,000 shares of Apple computers, of Apple. Here's what happened. They have a Charles Schwab account. Automatically, Charles Schwab, the system, they will try to match. So somebody wants to buy 100,000 shares. They will try to match it with somebody who wants to sell, the system does this, sell somebody, this person in California and this person in Florida. Somebody wants to sell 100,000 shares in Florida. So they match the order. So let's assume somebody wants to buy 100,000 shares and in the whole country, there's only 75,000 shares. At this moment, they want the sell on the network. So what happened is, what happened is you cannot fill the order. What's gonna happen is you're gonna have 25,000 shares remaining of Apple. So here's what happened. Automatically, Schwab will send a signal to Der Guy. This is Schwab's guy on the exchange. And they say, we need immediately to buy 25,000 shares of Apple computers. This guy will go to the specialist. This guy is the specialist who specialized in Apple computers. This could be JP Morgan, could be someone else. And they'll be able to get them the 25,000 shares. Obviously, it'll be a little bit more at a higher price because there's not enough seller, but the point is they will make a market in that stock. So they will make sure you will get your stock. So a company that makes a market and the shares of one or more firms maintain a fair and orderly market. If this person did not exist and there's an order to buy 25,000 shares, the price could jump substantially. But here comes the specialist and they will sell it from their own stock. They'll say, if you want Apple, just come to me, I will buy. I will sell you Apple, okay? So they will have it in their inventory. Again, the specialist has been largely replaced by electronic communication network. Okay, why? Because everybody is trading online and there's enough buyers and sellers to keep the market orderly, okay? They are still one of the most important things by which stocks are traded. We are there in mind, okay? Because when there's imbalance, you'll need to go to those specialists. So the specialist maintain a limit order book of all outstanding and executed limit order. So they see what's going on if there's any limit order and they can project if there's a lot of buyers or sellers and they'll try to kind of match them with the best prices. In the next session, we would look at the rise of electronic trading. As always, I would like to remind you to like my recording, share it, put it in playlist. If it benefits you, it might benefit other people and don't forget to visit my website, farhatlectures.com. If you are planning to compliment or supplement or supplement your accounting or finance courses or CPA or CFA exam. Good luck and study hard.


Thanks for joining us. I'm Nate Cardozo, a senior staff attorney here at EFF in San Francisco. If you are unfortunate as I was to have to sit through 10 hours of Mark Zuckerberg testimony a couple of weeks ago, you probably noticed that Zuckerberg was saying that Facebook relies more and more on artificial intelligence to flag and remove content. More and more. What does that mean? More is a relative term. More than what? That's a question that we at EFF have been asking for years. How many posts does Facebook remove for violating its terms of service? How many posts do governments request that Facebook remove for violating terms of service or other community standards? And that has been pretty much impossible to determine until recently. Facebook has started opening up a little bit more and part of that is in response to a set of principles released by us, EFF, ACLU of Northern California, CDT, the Center for Democracy and Technology, New Americas, Open Technology Institutes, and a handful of academics who work on international online freedom of expression. The Santa Clara principles came out of a meeting that we held in February of this year, down in Santa Clara, surprisingly enough. Derek Goldman, a professor at Santa Clara University, put up a conference called Content Moderation at Scale. And the civil society groups who have come out with the Santa Clara principles met the day before that conference to talk about what we wanted to push the companies on. And this week, we released the set of three principles that we think companies should follow. They are as follows, numbers, notice, and appeal. We think companies should publish the number of posts removed or accounts suspended due to violations of content guidelines. We think that companies should break this out pretty granularly. How many of these came from governments? How many of these came from private reporting? How many came from being flagged by their own internal AI systems? We think they should be broken down by country. We think that they should be broken down by the category of rule. Second, notice. Companies should provide notice to each user whose content is removed, and they should provide notice of which rule in specific that content violated. If you don't know which rule is being violated, there's no way that you can strive to do better on the platform. There's also no way you can adequately contest what might be a wildly inaccurate removal. Again, we don't have very many numbers here, but a study by ProPublica showed that Facebook's moderators followed their own moderation guidelines less than 50% of the time. So the error rates that humans experience is enormous. And of course, we can presume that the error rates that early AI moderators will experience will be even higher. And finally, appeal. Because those error rates are so high, we're asking the companies to provide every user who has content removed or an account suspended the opportunity to meaningfully contest that removal or suspension. Usually, companies to date have allowed some sort of appeal for permanent account suspensions, and that's about it. If you had a piece of content removed on Facebook, until recently, you very rarely even got notice of that removal, much less an opportunity to appeal. And still today, there are categories that Facebook does not allow opportunities for appeal. So that's what we're asking for. We're asking the companies to be open and transparent about how they moderate speech, about how they perform private censorship of what would otherwise be perfectly legal speech that simply happens to violate the company's platform policies.


What's up everybody Jason here from jazby's case breaks calm 2020 panini gold standard football four box break picket jeans number three just sold out And again, this is the last four boxes of the case and here's everybody that got into the break Try to fill this up late last night No, but you know what I notice usually higher up No, but you know what I noticed earlier if you do this or what I have to do is it could I don't know This is a business one or not, but I've seen one where it makes the video go up and then you have a black chat like this It's really weird. I've never seen that before I was like, what the hell is that a new update? Well, there you go guys.  It's a new day, brother Guys have a nice little two-color patch Kyler Murray It's a new day Devin Bush coming up and he actually just unfortunately Tours ACL and yesterday's game but 24 out of 99 And is this what I've been waiting for guys Yes, very nice golden debuts. Ooh one off the jersey number nine out of ten Justin Herbert Very nice. We got little Chase Claypool triple relic and Otto to 99 Steel is going to Michael Next box Anthony Gordon Bradley Chubb Gold gear Mayfield and Nick Chubb How about a little Jim Plunkett Six out of 49 for the radice What a Michael Robinson little you took gross mottos and a little AJ Dylan patch auto 44 out of 49 Oh, is that oh really? That's your girlfriend. Nice. Nice. That's awesome, man How does Joe say the couple that break together stay together, right? I had a 75 for the Patriots Josh Facts right mark fax see Why do they gone wife it up here mark my wife works here part of the hobby done put a ring on it Now we're married before start working here, but I've always been part of this for almost like half of our relationship Kenny golly, the white gold.  We got a John Greenard decent Texans When Aaron Delpit for the Cleveland Browns When Anthony, I know right that's how it goes mark Jacob Easton 99 now now you know you you have to do something for her It was all planned out perfectly for hey also banker though because you know She didn't get grab him a number three that would have just been somebody else and at least it's going to both of you guys Unless you stole it from you unless you were about to grab them but Ross Blacklock Joe Montaignee Roger with the 49ers and more 49ers for you little Deebo Samuel That's actually Jersey number 19 out of 49 Little eBay one-of-one about that Roger Deebo Sammy actually had himself a pretty good game last night And well when you get a Deebo Samuel, why not get a little Jerry rice relic again? 197 out of 199 Three straight 49er cards You got Ozzie Newsom nice two-color patch and the autographs 16 or 15 out of 25 Cuz cuz Tom Brady hates foals cuz he's on he's never beat him before It's BS right Tom Brady went one of their loses and plays against Breeze or or Or Rogers and everything that's cool. You know respect but when he when he plays against Nick foals and he loses He just ignores it Zach Moss, I mean now you can't actually say he's but her about the loss because He lost against Drew Brees and he still wants to go shake his hand, you know So the fact that he won and went to go shake and Roger's hand does he not think Nick foals is worthy of his handshake That's that's BS right there man This makes me want to hate him even more All right Zach Moss There you go. What a quick recap So that was the last four boxes of the case not sure if we have any more of this, but Hey, so I'm really nice stuff here Claypool Herbert very nice guys. So this is gold standard football picker team number three Jasper's case breaks.com


A total of eight St Lucia Nationals who repatriated from a cruise ship will be leaving the Rodney Bay Public Health Facility where they spend 14 days in quarantine. Individuals have shown no signs and symptoms of the virus. Minister for Health and Wellness, Senator the Honourable Mary Isaac, highlighted the importance of people being placed in quarantine. It is very important that the government take it on its own to quarantine persons when they arrive in St Lucia because I don't know if you remember initially, we were asking people to home quarantine and that did not work well at all. So it is the government's responsibility now to ensure that persons are taken into quarantine in order to protect the rest of our population. That is the only way you can be sure that the people are adhering to the protocols and that they are going to remain in quarantine for the 14-day period. Two of the individuals described what life in quarantine was like. We enjoyed it, it was part of the protocol that we went through but it was good, we enjoyed. I learned a lot because I came from the origin spirit and when we got to St Lucia you know it was we really enjoyed every minute of it and we learned quite a lot in terms of wearing the mask and washing your hands and those sorts of things and I guess I'm going to take that back home with me. It's healthy to be safe and to be here and make sure that you are not spreading the coronavirus and just to make sure that we're protecting our loved ones before we go home and we don't spread it to the people that we love. The eight individuals who left the Roddy Bay Public Health Facility were each presented with a letter stating that he or she is in good health. Reporting from the Communications Unit of the Ministry of Health and Wellness, I am Fynnell Neptune.


Today we're trying out white claw hard seltzer pure It's their newest Seltzer is this the last time we're going to be buying white claw? Quite possible. Hey there njrude22.com here with another vlog about alcohol and booze and and so on as If you've watched any of my videos, we used to do a cheap wine review because we liked our red wine and the fact that it was fairly low carb and and We stopped that because wine we've determined for our own body is not good anymore. I didn't like what happened So we've we've gone to this new little little tip here for the hard seltzers and I've Gone through a whole bunch of different hard seltzers and I basically Settled on the fact that the smirnoff spiked sparkling seltzer Is the king of the hill here white claw is the most popular? I believe white claw and I think truly and there's I never really enjoyed the flavor of their flavored ones They were slightly higher in carbs per can than my smirnoff smirnoff a gram of carbs per can and The white claw flavored ones were two grams of carbs per can this a new flavorless Seltzer is zero carbs per can and that's the reason why I try it because Zero carbs pretty awesome. Can you make your drink and I always just this is very important to know I never drink it straight never do I drink a can of seltzer straight? I always diluted 50 50 with some other kind of seltzer usually a flavored Seltzer like a polar or a can to dry. Whatever. I don't know. I put a quarter teaspoon of ginger powder in it and Squirt a lemon Notice I'm not giving the thumbs up It's okay. I like zero carbs now Let's just point out that the difference between a one gram of carbs per can I drink On average less than six cans a night six cans is a big night seven or eight I'm it's a bender for me I can usually get away with like four three or four cans sometimes two cans a night anywhere between two and eight Okay, let's just say for argument's sake. I'm drinking six cans six grams of carbs over four hours Is really insignificant if I'm drinking or compared to 12 grams of carbs over four hours. It really Doesn't matter if I'm pounding like 12 of them in an hour. Maybe That's not gonna happen though. So I guess zero grams one grams two grams I Don't really care But if you start getting to three four five and six grams, then I don't I just don't want to put those carbs in my body I can I can tell the difference. I'm not a big fan of the white claw other flavors So I don't I don't buy it anymore. You know a it's hiring cars B. I didn't really enjoy the flavor It had this weird Alcohol taste it wasn't your usual.  It just had a weird new Alcohol taste and I I just it didn't connect with me very well White claw people say here you can enjoy this straight or add your own flavor twist And I did taste the new white claw pure just straight out of an ice-cold can and I at first I'm like, wait a minute. This has no taste and then the second wave of sensation that came over me was whoa This tastes sort of like someone Maybe rinsed a toilet bowl cleaner Off in my cup before I tasted it wasn't completely offensive But it didn't taste right the third I guess the finish if you're talking in wine speak the finish had this again like weird Alcohol taste you don't get that from the smear offs I don't like the taste and and even with my mix of black cherry seltzer and Ginger and lemon I still don't really like it. I don't give you know, I don't do the thumbs up with it It's it's I guess the missing flavor is Okay, man, I suppose if you mixed it with a really sugary drink or maybe a high erythritol drink it might Mask the issues, but I'm not a I'm not a big fan. However, I'm not saying I don't like it And I'm not saying I will never ever not buy it There's two things that are that white claw has going for it. Hey, it's available everywhere. So if you're at the Liquor store five minutes before they close and this is the only thing they have I'll probably Pick it up. It's a good emergency stand by because be it the 5% alcohol is higher than most of the other seltzers and The buzz is it's a different kind of buzz. I don't want to say angry buzz, but it's not It's it's a different buzz At 5% so you could probably drink a few a few Less of them Or just get a better buzz drinking the same amount So it's it's not completely toxic, but I don't really enjoy nearly as much as the smear knife And there's really no cost advantage. I mean this was 15 bucks for a 12 pack probably get it for 14 if you buy a case two of them like $28 for two It's a shrug It's I guess Utilitarian it serves a purpose gives you a buzz helps asleep, but I'm not gonna buy this Voluntarily anymore if I'm in the situation where I have no other choice I'll take it or if I'm at a party, which I never go to Any parties anymore and they only have this I'll I'll take it over a beer or wine So that's it. I I'm not a big fan of the white claw in general Oh, there's one other thing that I need to point out here and I'll put up the nutrition facts right here their ingredients are listed as Purified carbonated water alcohol doesn't say how I It's made using their proprietary Brew pure brewing process and they say discover more at white claw comm You can't really discover much more than marketing and and their image management They have a video they don't really explain they don't get technical It's not it's not there's nothing technical. They're not explaining. It's probably a patented top-secret thing how they do this But you can't knock them for being zero-carb and then it says after alcohol natural flavor and That bugs the living crap out of me and it should bug the living crap out of you natural flavor is a passport a little a little free pass for these companies to stick things in there and You know 0.01 percent, but there could easily be MSG in these things to make them addictive and make you drink one more than you should have so I I don't know if this the Smirnoff ones don't list the ingredients on The can or the box that doesn't say what's in them So I don't know if Natural flavors in there, but I don't be aware of the natural flavor BS it We have to petition our our the people that regulate this to You know expose natural flavor. They can't just have like an easy one size fits all for like a million ingredients Including msg. So so I have to say even though I don't like it. I keep drinking these things So I I'm never gonna buy this again unless I'm like in a corner and one to have a drink So I'll leave this video here. I prepped my next drink here And we're gonna enjoy the new favorite flavor for Smirnoff spiked sparkling seltzers pina colada It's really every time I drink this I feel like I'm on vacation Okay, I feel like I'm at the pool side some Hotel and Waikiki even though I've never been to Hawaii my family says they want to go one day, so I'm either at a hotel or I'm drinking some like wine tropic tanning fluid by mistake so much better the flavor is is important and If you go look at one of my other videos go click my the channel name and then look up The the crook and marker the crook and marker seltzers, and I'm probably gonna try them again Because the flavor was profound The play the flavor was was so profound that I could probably triple or quadruple diluted and Make one this is a 32 ounce bull jar, and I do one 12 ounce can of this the seltzer with 12 ounces of Non-alcoholic seltzer ice and so on and it melts and everything so I end up drinking a quart for every of fluid every can six then you're talking a gallon and a half of Fluid but the crook and marker was so potently flavorful I think I can get two quarts of Drink out of a 12 ounce can and it would take forever. I might not even get a buzz from it but I'm gonna try one of their other flavors I haven't had because I Although I don't like how kind of artificial taste it. There was something entertaining about the flavor so this little pina colada flavor over at the smirnoff It's enjoyable.  So that's it Smirnoff smirnoff spiked sparkling seltzer all the way I'm gonna keep trying. I'm gonna keep trying the other seltzers until I Just get bored and stop doing it. I enjoy Being a little human lab rat for this type of stuff No more white claw for me unless my back is against the wall Have a nice week ahead and I'll see you on the next NJ route 22.com vlog Oh, by the way, if you made this long, can you a click the subscribe button and the bell and all that other crap? Take it easy


We can actually bring ideas from one place and applying them to where it would become most powerful in solving problems. My name is Wei Fengzhong. I'm a senior research fellow at the Mercator Center. What we do here at Mercator is basically bridging the gap between academic ideas and real world problems. I could be wrong, but my impression is that there are two camps. One really focuses on solving policy questions in Washington, like the policy circle people. But they don't really engage with academic ideas. And there's another camp in academia. Of course, there are a lot of professors and they're doing a lot of interesting things. But not all of that are steered towards solving real world problems. So I think Mercator is really at a unique spot in between the two. And so this is what really makes it so exciting for me when I came on board because we can actually bring ideas from one place and applying them to where it would become most powerful in solving problems. My impression is that the two camps that I just talked about, these two camps are sort of drifting further and further apart. So the demand for bringing the two camps back together is ever-growing. So I see, for this reason, I see a brighter future, even brighter future for Mercator for the next four years.


One aspect of baseball that is unique to the game and can be a bit confusing is the force out So let's take a look at that in a bit more detail As you know the defensive team can put a runner out by tagging him with the ball That is by touching him with the ball or touching him with their glove walk balls in it As long as the runner is not on a base tagging the runner is always an option to put him out When it comes to ground balls the other way that a team can put out a runner is through the force out Rather than trying to come up with a technical definition. Let's just jump into a few examples The simplest force out is one that you're probably already familiar with that is when the batter hits a ground ball in the infield Rather than picking up the ball and running over and tagging the runner out an infielder can field the ball And then throw it to the first baseman who will then step on first base If the first baseman can step on first base before the batter does then the batter is out in this situation The only place the batter can run is first base So in essence he is forced to run to first base thus creating the force out there Things get a bit more complicated when there are runners on base This time let's say we have a runner on first base and the batter gets up And he hits a ground ball to the shortstop Our batter is still forced to run to first base and we cannot have two runners on the same base at the same time Which means that our runner on first base is now forced to run to second base Which means that this has created a force out at second base as well So rather than trying to tag the runner out the shortstop can pick up the ball Walk over and step on second base, which would mean that our runner who started on first base is now out That does not necessarily mean the play is over though because the force out at first base for the batter still exists So the shortstop can now throw the ball to first base and if it beats the batter he will be out too If this happens that the defense gets two outs on the same play. This is called a double play Many times what you will see happen on a double play is that rather than the shortstop picking up the ball and running over to Second base himself the second baseman will run over to cover the base The shortstop will throw the ball to the second baseman who will step on second base And then he will turn and throw the ball to the first baseman Double plays can be exciting because they happen so quickly and there are so many things that have to happen perfectly In order for it to work one bad throw or a guy dropping the ball can ruin the whole play Now it is also a possibility that the defense will get the force out at second base But the runner will beat the throw to first base if that happens the force out at second base is still in out and the batter will now Be on first base Rather than being a single for the batter. This is called a fielder's choice If we have runners on both first and second base This means that there is a potential force out at first second and third base An infielder can pick up the ground ball and touch any base to get the force out and To take it one step further if the bases are loaded. There is also a force out on home plate as well So if there's a ground ball back to the pitcher He can pick it up throw it to the catcher and all he has to do is step on home plate and the runner Who is on third base will be out? The final thing we're going to look at is the removal of a force out in the middle of the play Now this doesn't happen all that often, but you'll see here why it is important to know when it does Let's go back to just having a runner on first base and when the runner is on first base He does not actually have to be touching the base. He can take a few steps towards second base This is called a lead-off. He has to be careful though because if he's not on the base This means that he can be tagged out at any point But back to our force out Let's say that there was a ground ball hit back to the pitcher And when the pitcher has the ball he can choose to throw it either to second base to get the force out there Or he can throw it to first base to get the out there. It doesn't matter which base he throws to it's completely up to him Let's say this time he throws to first base and the first baseman catches the ball Which means that the batter is now out What this also means is because the batter is out He is no longer forced to run to first base Which also means that the runner who started the play on first base is no longer forced to run to second base He can turn back around and run to first base if he wanted to now This means that if the first baseman were to throw the ball to second base The shortstop would have to tag the runner in order to put him out He cannot simply step on second base because the force out has been removed And so that's the force out in short when a defensive player has the ball And he puts out a runner by touching the base that that runner is being forced to run to Rather than actually tagging him out


Our goal here is to provide all the deliverables that are needed for people to have an end-to-end positive experience using Fedora technologies in the cloud development and production process. So whether that's on your computer or actually in your infrastructure or somewhere in between, like we want to make that experience good and help you succeed in that front.


A shrine located within the Oshun-Oshobo Sacred Grove will be conserved for posterity, thanks to a $127,000 grant from the United States Mission in Nigeria. Plans were concluded with the signing of a memorandum of understanding in Lagos for the digital documentation, training and conservation planning for the World Heritage Center. Jacinta Obyuku was there. It was an evening of signing of a memorandum of understanding and reception at the United States Consular Generals Residence. $127,000 will be going to Siak, a non-profit, to document and make conservation plans for the Bosoin Shrine located at the Oshun-Oshobo Sacred Grove. The money is courtesy of Ambassador Fund for Cultural Preservation Program, which aims to preserve historic buildings, monuments, crafts and cultural expressions. Through projects like this one in the Sacred Grove, the United States and Nigeria are actively cooperating on means to protect Nigeria's cultural heritage. We are also finalizing a bilateral agreement that would establish restrictions against the import into the United States of prohibited items of cultural property. The agreement also would encourage public and private cultural institutions and law enforcement agencies in both countries to work together on repatriating trafficked objects and fostering cultural exchanges. This is a great opportunity to bring in specialists that will work on digitization of our World Heritage site. The Bosoin Shrine is one of eight monuments within the Oshun-Oshobo Grove. The groove itself has been hit by natural disaster, which is one of the considerations for a 3D digital documentation. The 3D digital documentation of the shrine is the necessary first step to provide the most accurate record of the current conditions of the site and effectively plan a restoration project that will increase resilience at the site during a natural disaster or extreme weather conditions. They also stress that the MOU signed will foster better preservation that will enable next generation appreciate culture. By signing this agreement, they have moved a step forward by preserving it. We know that it's going to continue because we know now Oshun will not just die and Oshun will not carry Oshun to go. Please come to Oshugbo. It's the most extraordinary sculpture garden. If you want to look at it this way, it's the most incredible spiritual place. Oshun Oshobo's sacred groove is Nigeria's second world heritage site. The 3D digitalization will allow the groove to remain intact as a cultural landmark in years to come. Just enter Obuco for Plus TV Africa.


So, now we're going to talk about gasification. Gasification is similar to combustion. You do some reactions in order to produce heat, but the main goal of gasification is to make gases from the source material rather than trying to make it all turn into heat. Some of the biomass has to be sacrificed in order to make the heat, and there are different types of gasification reactors. The one that I'm standing in front of now is a high pressure gasification unit that is at a research scale again, so it's not as big as what you would see in industry, and it's used primarily to make mostly gases and try to reduce the amount of liquid material that's formed.


This video is called standard form of polynomials. Basically standard form of polynomials is putting your final answer in what's considered a proper form or a standard form. It's just to put your answer so it kind of looks the best and it can stay consistent among everybody. And basically the rule of putting something in standard form or proper form is when the degrees of the monomials decrease from left to right. So basically you're looking at the exponents. 2x to the first, 2x to the third, a negative 7x squared, a 3x to the fourth and a constant. So for them to decrease from left to right you start by choosing the term that has the highest exponent. So in this case a positive 3x to the fourth would be listed first. Then so that one is used. Then would come the positive 2x to the third followed by the negative 7x squared. Now this 2x is really 2x to the first so that would become next and then the only one we haven't used yet is the plus 4, the constant. If there's a number that doesn't have a variable with it the constant will always come last. Let's try looking at this one we have variables of q. It looks like we've got exponents of 4, 11, 2 and a constant. Always pick the term with the highest exponent first. So we have negative 3, q to the 11th. Second would come the positive 10q to the fourth.  So this is in standard form because looking from left to right the exponents start at the biggest and get to their smallest.


The life changing events of this year, a global pandemic, a resulting recession and an overdue reckoning with issues of racial justice has put the issue of intersectionality at the forefront of our minds and actions. Each one of these crises has shown the inequities that exist in our society. The advantages and disadvantages that different people experience based on race, class, gender, ability and more. As technical colleges we must recognize inequity where it exists in our systems, behaviors and cultures and work to eliminate it. We want each student to feel supported and welcomed on campus. We want all students to feel as though they belong. Last year we developed the Chargers Respect pledge which promotes a cohesive culture based upon trust, integrity, inclusivity and respect. Our pledge now in year two reads, As a member of the Charger community, I pledge to create a respectful and welcoming environment for all. Respect others values and ideas, even if they are different from my own. Recognize commonalities and shared experiences and defend the dignity and humanity of all members of our college community. Those who sign the pledge honor it in their classes, at work, their personal life and all pursuits on and off campus. The core intent is making people feel valued. We always believe at NTC that education is that social equalizer and that we believe it is our responsibility to help our students accomplish their goals. In our efforts for equity and inclusion, we make sure that all of our central services are located right in the center of our campus where students will feel comfortable and welcome to look at whatever they might need to face whatever challenges they have to complete their educational journey. We have accommodations area, we have academic resource center, we have a college prep center and we have timberwarf learning center. We also have our student services area right there providing all the support a student might need as they begin their journey. We truly believe that it is our responsibility to remove barriers and to level the playing field to help students have a successful opportunity and a successful educational journey when they're at NTC. There cannot be silos between academics and student services, between the faculty and non-faculty employees. We all must be knowledgeable about inequities where they exist. We all must know the strategies to eliminate them and we all must know the language and practices that will create an inclusive community. I am grateful to our employees and employees from technical colleges across Wisconsin for joining us to work as one. Valuing diversity and respecting others is one of the core abilities that we try to teach here at CVTC. It's a struggle that we all face but together we can make improvements. I'm very happy to support the state's initiative on intersectionality and inclusion so please join us across the state working to respect others. Thank you.


Hi everyone, Joe for jaspyscasebreaks.com coming at you with 2020-2021 Panini prism basketball saddle pack break number 237. The last one we got to do to unlock that immaculate basketball break that's coming up in the next video if you're looking for that. First we got to do the pack break so big thanks to this group for making it happen I appreciate it. All 30 teams are in let's roll it and randomize it one out of five six times one two three four five and once more six than final time got nick down a brian one out of five six times four the teams one two three four five and six final time all right there's the first half of the list right here no trade windows in these things these fillers there's the second half of the list right there let's just print this and rip this jaylen brunson has 34 points here in game two there's the final print out right here and ladies gentlemen if you want to vote in our poll in the chat top of the chat there should be a poll that says who wins game two of the late game nuggets at warriors warriors uh minus seven sixty two percent saying the warriors that's a pretty cool cartoon a rookie dual auto out of five kershaw and tim lindsay we've got a rookie silver elijah hughes rookie coal anthony coal anthony going to orlando ryan frank is elijah hughes getting any minutes no i don't think he's on the roster right now mike tower you're absolutely right jaylen brunson used to be uh used to people who used to get him and then nobody wanted him nobody wanted him but now yeah i guess in the last year you should be dusting off your jaylen brunson's all right let's switch back over here let's gather everybody's names from one down to 30 there's everybody's names let's copy them into there and let's roll and randomize that list two and a six eight times so top 10 after eight good luck one two three four five six seven and good luck eighth and final time so from 11 on down sorry nick no dice no go but thanks everybody for trying we do have another immaculate opportunity so if you want to try that again jazby's case breaks dot com appreciate it all right top 10 you're in the next break brian frank is in brian again david brian joseph brian kevin nick brian and brian nice work brian getting a lot of spots in there we snuck you in there nick you're in spot three so you at least got in after eight there's the top 10 i'm joe i'll see you in the next video for the next break jazby's case breaks dot com