Hey everyone, welcome to this week's video update today's Friday, April 24th Let's jump into the alerts and check out what we did this week starting with Monday The 20th was our first trade. Let's scroll down here. So first trade was a closing trade We had a bunker on in XL I we got down to under, you know, right at 60 days to expiration We we like to take these off So we start to avoid that real theta decay that starts coming in at that point And so we took that off close that for a loss and we'll probably reestablish another bunker or two next week Just to continue to add in some of that short delta protection in case we do get that downside action That that I think will eventually come next trade was a Trade in CL so we added a short strangle in CL now what what happened a few days later was Think or swim came out and said due to the market conditions do the oil Conditions going on in oil. We are requiring Everyone to close any trades that they have in the June May June July cycles of CL so we ended up having to just take this one off and take a loss Nothing really we could do about that if we take a look at at oil So, you know, unfortunately, it's coming back a little bit in our in our direction And if we go to the oil futures on the thinkorswim platform What you'll see is the I mean look at the difference in pricing here We've got in the in the June cycle. We've got 17 dollars a barrel Then it jumps up to 21 and 23 25 26 And it continues to escalate up to 30 dollars a barrel out in, you know, February and beyond and so It's just such a huge difference and with everything going on with the You know, there's the 23 country agreement With OPEC that was supposed to slow down production to help prop up the price of oil That didn't work The the the amount of demand for oil right now is just so sparse Because of everything going on with the coronavirus that You know, they there's just a A very high risk situation going on in oil and what happens in that situation is the broker in this case TD Ameritrade Came out and said, you know, obviously if if we have the risk in our account and we're not able to cover it Then TD ultimately holds that risk. And so they just made a decision That they didn't want that risk. And so they they literally made everyone close out of any oil options or futures contracts. And so I've actually never seen that happen I've I have heard of that happening in the past in different markets, but Never had it happen to me. So that was a another new one, you know, last week We also saw, you know, the may the may cycle, which is obviously expired, but it actually went negative in oil So the the futures contract in may was actually turning turn negative, which has never happened Uh in in history So this is some crazy stuff going on there. So unfortunately had to we had to close that one and so we are no longer in oil Uh next trade was an opening trade in SPY. So we put on a new weekly double calendar did this one with four days to expiration and Price had moved around on our SPX a little bit. And so we just wanted to kind of add into this So did 10 contracts here. So we had one in SPX and one in SPY and just kind of layered into those and then Those expired today this friday was the last trading day. So we got out of one yesterday and then one today I'll get to those alerts here in just a second Next trade was another closing trade Another uh, bunker trade in win Again, this one just getting down to that 60 days to expiration starting to sag in the p&l area. So we we wanted to get out of that Um with the 6e so we have a short strangle in the in the euro And we adjusted that we were down to 18 days to expiration So we rolled that out to 46 and then just adjusted our call slightly from 1.115 down to 1.105 Kepa puts the same. So we're slightly inverted. So if we go to the platform take a look at 6e You can see the price is hanging out right here on the lower end of the range So we need a little bit of up movement to to get back to center In that in that 6e position. So just working our way back to profits there Next trade was an opening trade in SPX. So we finally put on a new duck We had been kind of waiting for a little bit of a downside action to To get a little bit better premium on these ducks, but obviously with the market continuing to grind higher We we wanted to get some on so we put on one in SPX with 10 DTE We've still got that one on And prices run up a little bit since we put it on so you can see prices right here We've obviously got Beak profit here, but remember as we talk about in the course We want to hold this, you know in case it does come back down because there is A chance that it goes below that beak and into that duckhead You know, we've got until May 1st is when these options expire And so the day before that's the last trading day. And so, you know, obviously is still a A decent chance that or possibility that price could come back down and Into the duckhead and and look for a potential max profit. So Obviously no risk to the upside but we've got that big potential if we get a little bit of downside and having a little bit Downside buffer right now. I don't think it's a bad thing at all. So we're going to leave that one on A little closer to expiration. Obviously if it continues to run higher, then we will just End up closing it out And then here was the the close of that oil trade I mentioned Closing adjusting trade in zb. So we also closed out one set of short strangles in zb. Just wanted to reduce exposure Um, yeah, it just felt like our P&L was swinging way too much just based on the movement of bonds and oil times We just wanted to reduce exposure get down to one. So we need a little bit of down movement in bonds get back to center there We had already rolled this one out Oh, no, this was the one. Yeah, we're 28 days So late next week or early the following week we'll roll this out to the next cycle But we've got another week Hopefully we get a little bit of down movement in bonds before that happens So we can get a good price on our roll Next trade we did an opening trade. So we opened up a new bunker in smh this one with 121 days to expiration As I mentioned, we'll exit near 622, which would be 60 days before these expire way out in august So if we take a look at smh We've got this short strangle here. I'll get to that in a second. But the bunker is right here So you can see prices hanging out right here. So we need a Move lower to benefit from that and then while we're here, let's take a look at the short strangle Now this one has 21 days to expiration. So we certainly could have rolled it today But we're doing several other rolls So we went ahead and just we'll hold this over the weekend if we can get a little bit of down movement That'll benefit us and then we'll do the roll But certainly early next week we'll be looking to roll that out to out to the june cycle Next trade closing trade in spy. So we closed out our weekly Double calendar in spy. Unfortunately, vol kind of got crushed. So we didn't book as much profit on this. So we ended up just taking a Small winner out of that You know, you can't predict these vol crushes We know that you know taking these off between one days and zero days to expiration is going to maximize our profits over time But you are sometimes going to get caught when the vol crushes and Takes away some of your potential profit, which is what happened here, but we still got out at a tiny winner Next trade opening trade in spy. So we added a new weekly double calendar here and this one Eight days out. So front week eight days back week 11 So if you take a look at that now this one got hit with a little bit of vol crush today as well Um, but we've still got some time left So you can see how the the p&l and the tent is kind of drooping now under the zero line Because of that vol crush and that's what can happen. That that's kind of besides obviously the massive move in one direction That's a little bit of the risk here. So it's a you know, it's a vega We're long vega on these trades as you can see here And so when the vol gets crushed Then then that can happen now remember it's not just if implied volatility goes down though It is it's the difference between The the ones that you're selling and the ones that you're buying. So if you see here Prior to today There was there the the volatility in these seven day options Was higher Than the 10 day and I would just pop back up a little bit but But it was about two to three percent difference These were two to three percent higher than these and now look at how how that is narrowed where the The back week is now 28 and a half and the front week is only 29 and a half So it dropped a full percentage as far as that differential And that's what's causing this because remember we are selling the front week. So we want call Volatility to contract faster in those options and we're buying the back week So we want implied volatility to contract slower or even expand And so that's why we're that's why we're seeing this. So that's the That's the reason when we put these on that is the main thing that we're looking at is not only the I mean the overall volatility matters But but it's really the differential between these we want to sell the ones that's a little bit higher and buy the ones with Not as high So that's what's going on there Next trade those that the oil trade I mentioned Closing trade in spx. So today we closed out our weekly double calendar in spx And again, just took a small profit on this one just over breakeven because we got hit with that vol crush So we're out of the spy in the spx and then we put on that that new spy Opening adjusting trade in gc. So we added an iron condor in gc So we've got we had that remaining short call vertical from the iron condor and we added to it And we'll take that one off early next week. It's only it expires monday. So we'll take that off on monday but we added This new iron condor to collect more credit And and keep this going implied volatility still nice and high So we're getting some good premium there and then the uh, short call vertical you can see the 16 95 17 10 This pretty much at max loss. So we're just going to close that out on monday next trade Closing trade in xrt. So we had two bunkers in xrt Obviously down under 60 days to expiration like I mentioned P&L we we held this one a little bit longer because the p&l was holding up well as far as the The kind of the sag over death valley, which I'll show you But we went it with a contraction today started to come down a little bit So we went ahead and closed out of that one and we're still holding Our our other one. So you can see it's way back here. There's a very slight chance We're gonna, you know, make a huge move down to book a profit But not in a massive hurry to take this off just because you know, we can't really lose lose much here We're gonna lose about 119 120 bucks on this one. So we'll take this off early next week And again, we'll we'll start adding Adding some additional bunkers. Maybe another one in xrt. It's a fairly low price symbol So you can get, you know, we're at eight contracts with this one a four by eight and six 1700 dollars is kind of the Buying power so you could certainly do, you know Any any level of this in in pretty much any size account? And so with these lower lower price symbols that allows you to Do smaller size and still get that downside protection that we want from the bunker Uh rolling adjusting trade in de so one of our Short call verticals in de we rolled from may to june We wanted to get this back to a positive theta position and You know, it's pretty far out of our range. So we just rolled that out to june adjusted our strikes So we've still got two sets of de So here's the one we rolled And then we've got the other one which is still in may Which is just outside the range So just holding these for that short delta exposure if we can get a little more downside in john deere that would benefit those And then lastly xbi so we had a short strangle and xbi was inverted and we just rolled it from we down to 21 days Expiration so we just rolled it out to june kept the strikes exactly the same so we kept stayed inverted and And collected the credit to roll that out to june So if you take a look at xbi I can see prices hanging out right here Just waiting for you know some more time to pass now and you know potentially a little bit of downside to get back into center So that is all the alerts if we take a look at some of our other positions. Yes We've got two different sets of long put verticals Most of these remaining ones are going to be short delta plays We've got these two different sets of long put verticals and es one is way out of range So we'll be either rolling or closing that one next week I mentioned gc natty gas We've got this was a strangle adjusted into a straddle You can see implied volatility has popped up a little bit since this roll So we're down a tiny bit but but well centered in that one I mentioned zb wheat we've got this iron condor price hanging out right here Just waiting for some more theta decay there Apple we've got this long put vertical prices hanging out right here for that short delta exposure DIA we've got these two sets one in may getting this one's way out of range So we'll probably roll or close that next week and then this one in june Uh, which is prices hanging out right here inside the range IWM kind of a similar story. We've got two sets one in May And these are long put verticals one in may just outside the range one in june Just inside the range And then same story with qqq. We've got two sets of short call verticals one way out of range and one Inside just inside range. So again on that may one we'll be looking to to roll Roll or close that next week As far as our our short delta goes we're at about one to one on our short delta versus our theta ratio So, you know in good shape there certainly could use a little bit more short delta But but definitely in a good spot on that whole situation And then lastly xlk another long put vertical that's out of range So we'll be rolling or closing that one next week as well. So If we take a look at the overall market just to kind of get get a little idea of of thoughts going forward Uh, obviously Mark has just been on this real, you know steep up. Well started up steep But now it's just being kind of grind in sideways in the last week and a half two weeks And so, uh, you know, we're just gonna we're gonna stay mechanical You know, I still think we're gonna see some more downside. I don't think we've seen the last of this volatility by any means But uh, but we'll just you know, we're gonna continue to stay mechanical We're not gonna get too short, but we are gonna add in some more bunkers for the for the situation of a potential uh, big downside move and we'll continue to layer in some ducks and double calendars and and strangles and and uh Iron condor. So that's the plan for next week. Everybody. Have a great weekend. Talk to you then


Let's make a plan for the frequencies program. We'll start by figuring out what we need to keep track of. For each sentence that the user enters, we need to keep track of the number of vowels, the number of consonants, the number of digits, and anything that's not a vowel, consonant, or digit, we'll call that others. We need to keep totals for each individual sentence, and we also need the grand total. How many vowels have been entered overall? How many consonants? How many digits? And how many others? Now we need to ask the user to enter words or phrases one at a time. So let's say that the first sentence that the user enters is just a single word, washer. We're going to go through that sentence one character at a time. We start with w. Is w a vowel? No. Is w a consonant? Yes it is. So I'm going to put a hash mark there. I now have one consonant for this sentence and one altogether. Move on to the next letter. Is a a vowel? Yes it is. That means I have one vowel and one vowel for everything. Move to the next letter. S. Is s a vowel? No. Is s a consonant? Yes. I have an additional consonant and total. I move on to h. Is h a vowel? No. Is h a consonant? Yes. Move on to the letter e. Is e a vowel? Yes it is. Which means I have one additional vowel. Move on to the letter r. Is r a vowel? No. Is r a consonant? Yes. I now have that. I've hit the end of the word and now I can print out the results for that particular sentence, which is vowels is two, consonants is four, digits is zero, and others is zero. Now I ask the user if they want another sentence and they say, Yeah they do, and they type in the sentence, Yes comma space 100%. Because this is a new sentence, I'm going to wipe out these totals. But not the totals for all the sentences. They stay where they are. I now go through this letter character by character. Is y a vowel? Well for the purposes of this program where we say that it is, which means I have one vowel here and I add that. Next character is e. Is e a vowel? Yes it is. That means I have two vowels in this sentence and four vowels that I've seen so far. Is s a vowel? No. Is s a consonant? Yes it is. And I add that hash mark. I move on to the comma. Is comma a vowel? No. Is comma a consonant? No. Is it a digit? No. That means it's an other. Move on to the space. Spaces are characters. You can't just skip over them. Is the space bar a vowel? Consonant? Nope. Digit? Nope. That means it's an other. Now I get to the one. One is not a vowel. Not a consonant? It is a digit. Zero. Not a vowel? Not a consonant? It is a digit. Move to the next zero. Not a vowel? Not a consonant? It's a digit. Move on to the percent sign. Not a vowel? Not a consonant? Not a digit? It's an other. Since I've hit the end of this sentence, I now want to print out these totals. For my second sentence, I have two vowels. One consonant. Three digits. Three others. I've finished this sentence, and I now ask the user, do you want to enter more sentences? And they say, no, I'm finished. Thank you very much. At this point, I now turn to this grand total, and then I print those out. So after this, I'm going to print out totals. I have four vowels that I've seen, five consonants, three digits, and three others. That's how you solve it by hand. Now that we understand this, we can now write down the steps that we took, and put them into pseudocode, half English, half Java, and then use that as a guide to translate the program entirely into Java and make it work.


I'm Andrew Norton, I'm directly by ideas for a pleasure to be here. Many thanks to everyone. I think this is the fourth thing you see that is being had at the trots. It's been really good, and there's also a sense of building knowledge, accumulating knowledge, building whatever, a computer that can work together. I feel more than it can with the others in the two of these things as well. So that's the main thing for tomorrow. Now, this session was originally asked for new reflections. Didn't really feel like that because I've seen about 13, 14% of what's going on today. So I thought instead that we would try to gather together some thoughts and take the bits to tomorrow and join on everyone's experience in the room after the day. So this is very simple, two questions. Think of one of the things that I've resumed to do in comparison, lived experience of local knowledge, transparency, and now we have to go to the place for financing and application management risks. So one of those things are one of the tracks for the two days. And address these two questions, and I want you to think about these for about 40 minutes and then we'll gather in a few thoughts. And if you have other thoughts, you can give them to Claire, who's up there, and we'll take them into tomorrow. So this is particularly the second question. What are the intractable, wiki-potty problems that are at the back of your mind and thinking, well, this is tomorrow, but what are those? What can we take into tomorrow and think about and move this forward? So two things, though. Is there a stand-out lesson? Something you can apply in your work, something useful, something you've heard, you know, wow, that's really useful. I should capture that and think about it. What's the stand-out lesson? But something applicable, something practical. And the second question, what should we be challenging ourselves to solve tomorrow? Again, if you could make one of the things and think about those two, and take about five minutes and think of something, and we'll just do show-cans afterwards. We'll gather in any other audience that we don't get to. So if you could take five minutes and think about those two questions. Who wants to pick out one or two either lessons or challenges to solve tomorrow but make it clear which it is you're saying? Pablo. Sorry, it was my voice. My voice, you don't understand me. Mostly because of something that Noel said that then materialized in the theatre of the oppressed session. But I was really struck that empowerment sounds like you lack power, we can give you power. Let's give you power. But instead, there seems to be like the protesters not being anomaly to Poland. There are people who already have the ability to manifest their abilities, including power. There is a process of the liberty trying to remove the power from them to disempower. And what we need to do is to un-disempower to remove the barriers. I don't know what we're going to come up with, but I keep speaking to some more like a form of activism that our community doesn't feel comfortable with. So we need to challenge ourselves. How can we recognise that it's becoming a different beast? So recognising the laws changing that our technocratic languages that we apply to something like power are rapidly becoming something like that. What do we do about that? That's great. Thanks for that. Any other thoughts on resilience through empowerment? Either things you lessen to take away or challenges to think about in the later part or to address in the later part? I mean, I sort of tell a lot of people saying I think there were powers really important. I think this... Maybe if we come now with the GNC days to a position where we're wondering... Well, I'm just wondering, having been to the previous ones a while ago, thinking what position... What role does this group play? And I was thinking about how Celine used to say, well, hang on, what we're saying in this room is not making it to the ears of the negotiators. But I'm wondering now if we're actually the right ones to be speaking to negotiators and whether we're sort of an elite here with power and can be thinking because we have knowledge. And how do we position ourselves as a means that people who are empowered on the ground don't get to speak and don't have the voices and get to come to the cause? So, again, it's happening to work with the way the world is changing to a way in terms of acquisition as a group who work on these things and no one describes it as an elite but certainly as a technical group working around these things and community. Great, thanks very much. I'm going to move to the second one now. The value for the living experience and local knowledge. Again, either a take-away lesson that you can apply in your work or a really knotty problem that you want us to come back to tomorrow. This is the living experience track. Thank you. We had an interesting discussion in the last session about local knowledge and participation and how actually participation is done is incredibly important. It's incredibly difficult to get a right. It shouldn't be a box-keeping exercise but the process of participation itself can also be very disempowering. People have to stand up, people have to put their views forward and they might be incastigated with their names but they'll talk to it possibly in the field. So we have to deal with that and issue very carefully. Yeah, it's in the sound-space area that the world is changing and the way that's faced for free expression is causing that really rapidly in a lot of lessons in every way. I'm using sound-space to think about something to think about in terms of how we think about it. So again, a challenge to come back to tomorrow, I think. Well, I'm moving now transparency and downward accountability. Again, I think all the other discussions in that area have also been linked to finding a potential answer in this. But again, either a lesson or a challenge to come back to tomorrow. Selin. I thought that was an excellent session particularly to focus on downward accountability. My sense is that perhaps we are confining ourselves too much to be monitoring and evaluation as a technocratic mobility and not enough emphasis on learning as a very, very important part which is from the bottom up. It is people actually doing things learning by doing that. We from outside try and evaluate but don't value their knowledge and I think it's a challenge to us to do that. And if I might also reflect on the conversation we have on the power bank, I think in a very, very real sense the Paris Agreement has actually disempowered the negotiators and empowered us here. We are not the actors. We can implement the Paris Agreement. We don't need their permission. We don't need their words and text. It doesn't matter what they write or what they agree. It's agreed. The implementation is agreed. We are the implementers. We can just go ahead and forge the agreement, the Paris Agreement implementation ourselves and don't think we must influence the negotiators. Let's forget about that. Thank you. Anyone else with some thoughts on transparency and accountability? I mean, a lot of what we're getting is in a very similar space. It's about the world is changing and agency is we're seeing it much more in different places coming from the bottom up. There are still risks on these huge risks and political challenges in the world. OK. Finally, on financing adaptation and managing risk. Who wants to have a go at either and take away some more and challenge for tomorrow? Thanks a lot. In fact, I was asking all green on board especially the private sector and when you look at the case for Africa, adaptation is a priority. Something is happening at the community level. Communities are engaging in terms of doing business also to facilitate on income. But in this room, if I ask and watch the case for especially the case for Nepal as a good case, how do we bring on board the medium and small media enterprises and microfinancing institutions which are growing especially in developing countries to invest in adaptation strategies? That is something that is not found out. The solution that is not found out can come really tell us as African Center for Technology Studies in Kenya. We are coordinating the Africa National Climate Action Network to provide an opportunity for the private sector and the CPUs and universities and some national governments to come and dialogue. So how do we really support them to understand what is needed advancing climate funding to the coming best initiatives? Thank you. Thanks very much. That was something in the finance sessions that I was in playing up a lot. Bringing together finding ways of integrating the studies into climate adaptation action. So thank you very much for that. I guess you have to forgive me to see days kind of words but in the two sessions that I was in on data and also on risk and peace building and conflict areas the kind of threads that went through both of those were actually about being creative and being accessible and listening. So I think it was kind of talking to people on the ground talking to people who were working on the talk acknowledging their complexities and discussions and be accessible and accept that there are differences but we have to kind of come to not agreement but discussion on going. Feel free to disagree with me at anybody that's in one session. Thanks very much. Just a final thought from me coming back to my discussions earlier in the day of Dana Roberts really focus and thoughtful and careful presentation of the main findings of the Model 5 report this deviant really into these key areas the most important thing she said was this step change or transformational transition in basically lowering issues rapidly in urban infrastructure land energy and the before areas but then there was clear points as well about the step change that we need from business as usual in relation to the resilience is bringing development and climate action together in the adaptation space I mean my sense from the development of this community is that there is something that comes together every year that's valuable that brings thoughts together that does build knowledge and each year you get a sense of knowledge and humanity and of solutions being found and improvements being made in the way we work so my ask for tomorrow would be to think about can we do something to make that step change more material and more real by thinking about maintaining the kind of communication that we get in this community once a year through the year so that would be my problem or my issue or challenge to take into tomorrow thank you all very much


So you may be wondering how I got myself into that situation. Let me fill you in. A week ago or so, I was asked to participate with some of my friends in Quackity's Minecraft Scott Talent competition. They wanted to do a skit where we impersonated Minecraft YouTubers and of course they wanted me to play bad. I begrudgingly accepted, not wanting to let my friends down, fast forward a few days and we were in the waiting line for the talent show. Now this was scary because our whole skit relied on being in a group, however it was just a misunderstanding on Quackity's part. It was finally time to go and present our talent to the judges. We were all really nervous but we needed to show them our skit so this is what happened. coming in. I'm coming in. No. Fuck. I miss. Fuck. You killed all of them.  You're scaring the contestants. Yeah. Why would you blow them up? You're right. It's all me.  All right, so we'll come we'll come back another day. What's up, boys? Welcome to the competition, guys. That's a little confusing that you have the same skin as dream. Yeah. They have like, they have a YouTuber skins on. Yeah. So today, our talent is we are impersonated Minecraft YouTubers. I personally the best one, by the way. No question. All right. Well, I'm already given the buzz. No. Why? We make Minecraft videos, too.  Good. All right.  All right, hit us. I'm taking over. Yeah, let's do it. All right. Yo, how's it going, guys? Today, we are playing Minecraft S&P, but whoever is whoever dies last will win $1,000. Today, we have bad boy Tommy in it. Shit. Language at all. And last but not least, dream according to statistics only small percentage of people with twitch prime. Gappy. I mean, like, yeah, I like. I know, but dream does. I think he has some potatoes. Dream. What? Potatoes.  Bad boy. Hello. I'll swear to you. Don't you dare. Penis. Language. It's an organ. Say that. What do you think they call it? They call it balls. Hey, bad. Hey, bad. Come stand on this drafting table. I'm just gone. I'm not even in the plane. You can't just swear at everyone. Dream, how the shit? What? You have a netherite chest plate and diamond armor. Give me that armor right now. Dream. I'll swear and make bad boy cry. Tommy, you can't just swear to anyone else. No, won't don't be silly. Just as big. You'll tell you. All right. All right. Here. Here. I'm gonna have to cut things up. Okay. I'm gonna be honest. Like the idea is good. I like the idea. I think we're gonna all agree on that, but I don't know if the execution was as good as it could have been. It's a little unorganized. I'll tell you that much. Agreed. Tommy just randomly got an accent. That's true. That's true. fellas. So yeah, no, you're it's gonna be a no for me. I think it's a little messy. That's not it. Can I can I at least have to can I at least have two dollars though? No. This came for charity. fellas. No for me to dream. May I mention that the sign right there says if you find the sign, I will give you $1,000 Mr Beast. I looked directly at it and completely ignored it. I still can't get over that. That's sucked. That's all right. fellas. Thank you for nothing. Goodbye. So some of our favorite YouTubers just said we sucked. I'm not a big deal or anything. We were then asked to go off stage to the interview room where we were further humiliated. How do you think it went? They did not like it. They did not. They like the concept. They didn't like it. Why not? What was it you perform? We did Minecraft YouTuber impersonations. To impersonate the judges. No. We impersonated Dream. Yeah, we impersonated it like we impersonated Steppy, Bad, Tommy and Dream. Okay, can you give me a demonstration of Dream? Okay. Tommy, you can't just swear at me. Well, I hope it went well for you guys. So have you had a good time? Yeah, we did have a good time. Yeah, totally. All right. Next one I need you guys to do is just come over to the jumping. Potatoes first. We deserve it. We deserve it. Get over here. Adam Plays. Bye. Thank you. Bye bye. Thanks for having us. So yeah, that's the story of how I completely embarrassed myself in front of three of my favorite YouTubers. If you liked the video, leave a like and subscribe and I'll see you guys later. Bye.


What did you Google Taylor? It's not gonna show up. Does Google the trailer? I was on the trailer. Yeah, Google the trailer for drive.  I'm here for it.  You don't think so? I never see that. He looked at you. He saw a certain angle.  His autism just slipped right out. Damn!   You look diesel. Hey, what are you doing?  Damn! Taylor, you look fucked. Becky Lynch. Press play Taylor.


I am from Phoenix, Arizona. He is so good. He is such a good father. And I didn't know that. I was molested. I was hurt by men. I was battling in my mind. I was dealing with so many spiritual generational crap. And I was unaware of it. I had no idea. He had me so blinded. I was feeding into the lies. But I was desperate. And so we got here the first night. The spirit arose. And it just was like, we had to go through a healing thing because I did not trust men. And that was what kept me from not being able to encounter the father's love. And so I couldn't trust men, which is why the spirit manifested. But I wasn't being set free. So that was the first night. And I just wanted to be hungry. Like I was going to get set free. I was not going to go back home the same. And so we came back the second night yesterday. And I wasn't even in the prayer line. I was just sitting down. And so if you're not in the prayer line, the Lord's going to touch you. It doesn't matter where. But I was sitting down. And I was so hungry for that freedom. And just for it to be gone. And for me to be able to hear the Lord and feel him. And I was sitting down. And one of my really good friends was able to spot out that I was manifesting. And if something was not right, the spirit took over. I was not even aware. Like I couldn't control it. That was not me. It took over. It started skidding on the floor, just out of control. And some gentleman, I don't know who it is. But he asked it to identify itself. And it gelled trauma. And it made sense because I had been so blinded by it and so hurt in the past. And so when it manifested, I knew that the moment that I got here, I had to forgive and I had to let that stuff go. I had to give it to the Lord. I couldn't bring it with me if I wanted that full deliverance to freedom. And so that it just manifested. A spirit of suicide was in there that I wasn't even aware of. And it made sense because I married. And there would be times that I would look at women by themselves with their children. And I would never share these thoughts. But I would say, Lord, I could only, I always felt like my life was gonna come to a short stop. And it wasn't because I was killed. I was attempting suicide. It was because I couldn't see in the future. And so there was a spirit of suicide. There was a spirit of lust along with, of course, the trauma. He set me free. Man, I understand why he was fighting so hard because that love I have for him now I was so anxious before that spirit has been casted out. But I was so anxious to come over here. And the only verse I could remember was God has not given us the spirit of fear, but a power, what is it? Love and power in the sound mind. And I kept declaring that. And that is the only reason I'm able to stand here and share that with you guys, because the Lord Almighty, he's here. And he's in here. He's my father. Amen. You have received from God. You came here. You were desperate.  You came up and you touched the hem of his garment. You were desperate. What is your advice for people who are here today who might be watching us online? How can you encourage them if they're facing some similar things that you have been through? There is an enemy that is fighting to come after you. But you have to remember that the Lord Almighty, if you think the power of the enemy is strong, that does not compare at all to the power of Jesus Christ Almighty. His power is just so overwhelming. It's so overwhelming. Whatever the enemy has, that's nothing. That's nothing. And so if you recognize that there are things in you thoughts that are not of you, that just sound like they're not, be hungry, be hungry, be desperate, and just surrender. Don't try to fight it yourself. Surrender, give it to the Lord and seek Him, and He will meet you. He will meet you.


We're in one of the rearing rooms within the insectry and this is where we rear our cul-cordies-butting midges as vectors of blue tongue virus. The reason we raise these midges is to find out more about the transmission of blue tongue virus which these midges can actually transmit to animals. Blue tongue is a notifiable disease that means it's quite a serious disease it's very easily transmitted so it's easy to pass on because the midges can fly a long way. It also causes a significant mortality in some sheep. We had a very large outbreak in northern Europe in 2006-07-08 and it was very economically damaging because you cannot move your animals away from infected areas, from infected zones, from protection zones and so you get a double impact.  Cul-cordies-butting midges are capable of spreading important livestock diseases so when they bite an animal they can pick up a virus and then subsequently when they've incubated that virus inside their bodies after that period of time can actually then pass on that virus to another individual animal and by understanding the behaviour of these insects and what they do on a day-to-day basis how they choose which animals they bite, how far they fly, we can build a picture of how the virus can be transmitted so given from one animal to another by these insects. So behind me you can see the rearing pans. Cul-cordies typically breed in damp organic matter so whether it's animal dung, leaf mold and we represent this by having this lovely concoction of liver powder and wheat germ and seeded with bacteria that the larvae can breed in. We get our female midges to lay eggs on a bit of paper and then we put that bit of paper there's eggs on inside one of these pans and the eggs hatch and the larvae wriggle free and then as they grow they get bigger and bigger they're still very small. Cul-cordies-butting midges are about two to four millimetres in length as adults the larvae aren't that much longer but they're very thin they look like tiny worms. When they're finished growing as larvae they then pupate they become a pupae or chrysalis and fortunately that chrysalis floats so we can actually raise level of the water collect all those pupae by a suction pump so we put the pupae into these little cardboard pots from whence they can emerge and we get about 500 individuals in one of these cardboard pots. In order to blood feed these insects we use this humatec unit here with little heater units if I can bring that to here. I want these to have a little reservoir of blood that fits over the top of here which heats it to 37 degrees. A little reservoir of blood that the midges can feed through a membrane and so the adult midges are in these pots. So we can feed these on blood that has not blood in the virus which we do for our rearing purposes but also on blood from a sick animal and see if they pick up the virus or we can mix a blood and virus mixture together and and then feed that to the midges or we can actually enter thoracically inoculate these midges to actually inject the midges with a virus suspension using a very fine glass needle that's drawn out capillary tube which we insert into the thorax just behind the wings or just behind the legs of the the midge inject a tiny amount of virus solution and then leave them to develop and we know that although these midges aren't very good at picking up virus they're very good at transmitting it so they're very good at passing it on and even one bite from one single effective midge is enough to transmit to pass on blue tongue into that animal and the animal may be sick. We can take our infected midges we've affected in restricted area and planarite building and we tend them to the isolation units and then we can place them on the on the sheep typically on the inner thigh hold it there for a short period and then the midges will feed through the mesh and contact the skin of the animal and then pass on that virus converted when we have an infected animal we can take naive insects from this lab into the isolation units and then feed those naive insects on the sick animal and see how many midges actually will pick up that infection again that varies with strain. So blue tongue was for a long time considered to be just a tropical disease and since 1998 we've had a few incursions into southern Europe then we had a significant outbreak in northern Europe in 2006 where the virus was being able to be passed on between livestock by our northern european midges and that virus arrived in the UK in 2007. Fortunately we were able to get a vaccine policy out and the vaccination rollout prevented that virus from expanding as it did in northern Europe and northern Europe because of significant issues for the livestock industry significant economic impact for the livestock industry. So the work we do here is it's about when these insects might arrive what damage they might do and by looking at the infection by looking at the behavior we can understand how and why and when blue tongue might get to the UK and the impact it might cause.


Hey friends today, we were hanging out at Disney Springs and it is officially 2022 It is a new year, so I wanted to come out show you guys any of the new offerings they have down here at Disney Springs I know Gideon's has a banana bread coffee and cookie that we have to try and then also do some shopping and maybe get some food And then later on we're gonna park up over to Hollywood Studios and hang out with some friends any hoos Let's go do this Today is January 3rd and like I said is 2022 and it's a little bit chilly actually here in Florida here at homecoming They actually have the fire torches on trying to keep everybody warm and it's like so beautiful out. It's like chilly It's like 70 degrees. That's what chilly in Florida is like, but I love it. It is so beautiful here. I Had to look and see what the temperature exactly was and it is 69 degrees Let me know if you think that's cold enough for torches on the patio here in Florida I don't know for me.  They had two cookies They had the Kris Kringle and then they had the Krampus and I'm excited for banana bread because banana bread is like one of my favorite things I love banana bread Here is a look at the new menu for January 2022 and I love it It's gonna be a great addition to my collection and can you guys guess who the inspiration is for the character on the front? I mean that is so awesome and I'm happy that he supports it let me know in the comments if you guys know who this is right here and Take a look at the back. I am so excited to try all of this like they had the banana bread nitro cold brew And I hear it is like a hundred percent banana puree in there and also the chocolate chip banana bread cookie This all sounds so so good And now it's our turn to go in and actually was under 20 minutes. I feel fancy. Hi Oh, I just love the smell in here every time Oh Here is a look at the chocolate chip banana bread and then the usual suspects the triple chocolate chip the original chocolate chip the pistachio toffee chocolate chip and a peanut butter crunch Oh, I can't wait to try the banana bread though, and then they also have some of the cakes too they have a marshmallow buttercream chocolate chip cake of golden Oreo vanilla cake right here and then a peanut butter banana double Frosted cake holy moly. I mean this is all good good stuff right here Alright, so I decided I'm getting the chocolate chip banana bread cookie and also Two coffees because I'm gonna be making kind of like a secret menu item here at Gideon's It's not a secret menu item. It's kind of something that a couple people have talked about and it might be a great combination And I'm excited to try it Here is a look at the Chocolate chip banana cookie and also it's got banana chip dusting on it So that's banana chips crumbled up and like made into a nice little dusting I don't want to knock it all off But I think it's really cool and then here's my two coffees as you know We have the banana bread, which is the newest one, but then we have one of the returning classics Which is the peanut butter so if you actually mix these together What do you get a little peanut butter banana iced coffee, and I think that's gonna be amazing First we're gonna have to try the banana bread iced coffee or the banana bread cold bro. Oh Wow that banana on that seems so natural. It is natural like banana extract But it's so it's almost like eating a banana but drinking a banana like I know It's it's just really really good So we needed to get a little bit out of there so that we can make our combination. So another another step should do the trick Now we're gonna take our peanut butter cold brew take the lid off that and we're gonna mix it a little bit Hopefully I don't get too much ice in here There we go Excellent that is the way Now we got to give it a good mix in there and I am excited Shout out to tour guide Barbie who also did this and she told me it was amazing. So here we go. Oh man That is now my favorite iced coffee my favorite cold brew here at Gideon's. Wow, what a combination It is expensive though because they're not gonna make it for you in there They're not gonna like, you know do half and half maybe eventually in the future It might be a future like a featured beverage, but you need to order a banana one and a peanut butter one So you have to order two cold brew coffees, but dang it is good Alright enough of the coffee business now it is time for the cookie business and look at that cookie I'm gonna zoom in on it. Look at that. Okay, you can see the banana chips actually coming down And of course, we're gonna have to break it in half. I am so excited. I love banana bread. So here we go.  It is so good This is my new hands-down of 100% favorite Gideon's cookie. Oh my lord It is so amazing just all of the flavors everything in there. It is so so good Wow, I can't get enough of it. I'm gonna eat it all Usually I end up taking some home, but this is just so good You can't beat it.  Hi friends. Hey Somebody actually got Gracie a gift card for cupcakes, which I think is so awesome So thank you and I'm gonna make sure to stock her up plenty. I'm gonna get her a lot of cupcakes It looks like they do have a new cupcake. They have a s'mores cupcake.  I think I've seen that here before but other than that I don't see any like new cupcakes just the usual suspects here like the sprinkle and the strawberry and the lemon blueberry and the triple cinnamon But there we go cupcakes obtained and I asked and they said that they last just about a week So you get three of them for ten dollars and she's gonna love them I can't wait to give it to and I'll show you guys at the end of the video once you get seen Of course, I feel like it's a tradition now They did run out of the dog bones that go on top of them though. They said they were just out So it's okay though. I wonder why they don't make cat cupcakes cat cakes. I think that would be fun They should make cat cupcakes too now. We're gonna make our way over this way and I want to run into amorettes I hear that they have a bubble-fed cake and then also maybe in the world of Disney do some shopping Just to see what they got going on I know they probably have a lot of holiday merchandise still in there and they're not gonna put out anything new until that's pretty much All liquidated, but it's always worth the chance to go check It's also marathon weekend here, so it's super super busy, you know, try to just get through here. There we go Bob and weave. That's the way Speaking of marathon week anyone who is actually racing in any of the run Disney events I hope you guys have a wonderful run I wish I could have done it this time They were sold out when I first thought about actually doing it and then my mom and sister were playing to come down So I was like all right I'm gonna stop looking because they're gonna come down and I was actually gonna go speck it like a Chiron people, but then they canceled coming down. So maybe I might actually go cheer on people still Now let's take a peek see an amorettes here and see if they got any fancy cakes and like I said I think they have one of the new bulb effect cakes in here I don't know if it's available or not. Oh looks a little bit busy. Oh boy Looks like the bulb effect cakes are all sold out. They do have an amorettes rose looks pretty good but Kind of everything else still seems to be the same I mean this pina colada cheesecake looks pretty good, and I know I love the pistachio eclair But I was a little upset No bulb effect To this day I still have not been able to get any of like this special cake that amorettes They must be like selling out before noon. So who is coming here and waiting in line before noon to buy cakes I want to know because I can never get one like when they had the Wanda vision or the Loki or Any other ones like the Haunted Mansion cake I was never able to get so one of these days I'm gonna get one of them, but they're always sold out by the time I get here Now let's take a look inside world of Disney and look they still got all their Christmas decorations up I mean it's only January 3rd, and it's nice to soak in the holidays as much as you can before it's gone till next year And I always appreciate how well decorated the world of Disney is So beautiful in here. It's also nice to see a lot of the mobile checkouts actually being utilized It really cuts down on the long lines in here and a lot of people have been using them recently I'm not seeing many of new items like I said once they have a lot of holiday stuff out They really don't put out new stuff, but I did find some cool GroGoo items If you're a fan of the Mandalorian they have a cool GroGoo Spirit Jersey look at this bad boy. I think that's so cool And they also have these pants that say where I go he goes and it's a Mandalorian on there Oh, that is really nifty. These are kind of cool, and I don't know if I've ever seen this before I think this might be new Looks like they've got a new home line here or two that looks really awesome I like this trivet right here. I need to get a new one So it might actually be interesting buying that we got some picture frames Then we got this right here that looks really really awesome with the castle a nice cup And some silverware and the silverware actually has a really nice design on it If you guys remember I was in the hunt for some silverware here But I kind of like this one am I end up having to get a whole new silverware set because it is so fancy Wow I mean, this is really really I like this stuff Here is the silverware that I've got at my house already, and I like it and I should probably wait I mean, I don't need that much silverware and these sets are actually kind of expensive this one is $96 and then I'm pretty sure it's the same price over at this one over here. We'll have to go take a look see $89 wait so that was cheaper actually. Oh, that's a 20 piece the other one's a 24 piece. So that makes sense. I Think I'm gonna wait to get the silverware set. I mean, I already have a really nice silverware set at home So, you know, no sense like having tons of silverware for just myself Now we're just continuing our way and we're gonna head on into the co-op here And it looks like they actually took down some of the walls in here. They opened up this spot a little bit more. I Like it. I always love coming in here. It has some of the best things. Oh, I love that Walt Disney World sweatshirt over there I haven't seen that one before that is so cool looking That is so awesome. Wow. I Love it $59 for that and it comes with a nice matching pants set here, too This is a really cool thing. The only thing is I don't like this material right here like this Very very itchy material in there, but it's so awesome I like the sleeve too first anniversary October 1972 This is wow. I really wish I could wear that And see good things come to those who wait I was gonna buy that home trivet But this one is way cooler. I'm gonna get this right now I love it so much and this one's $29.99. What an awesome trivet. Oh, and also somebody's got a chocolate milkshake there, too And look at that now. I am a proud owner of a brand-new Walt Disney World trivet. I love it Old me or actually me probably 10 years ago. Wouldn't even know what a trivet was used for but now I like the finer things in life I'm starting to get a little bit hungry for like food food So we're gonna start trying to think of where we want to get something to eat there's a lot of good options here and For lunch, I'm thinking deluxe burger. Maybe this is another place that does like monthly like flavors or monthly burgers as you would say and I came here for the holidays and I tried to get the turkey burger But I think they weren't like selling it yet and now they actually have a bacon and blue burger on the menu And this is two-press signature blend patties topped with blue cheese bacon onion jam lettuce and grilled onion and that looks pretty good So I think we're gonna try it. I Decided on coming out and sitting outside a mobile ordered for my burger Which is super fast because as soon as I mobile ordered they said it was ready and I went over and they gave me a little tracker device And once the burger is ready, they'll bring it out to me and I'm excited to try this I mean I came here I think in November to try the turkey burger and they didn't have it available So I wasn't able to try it but they do have like a rotating menu This might have been the December one, but I haven't had that before anyway So it's new to me today and take a look at this. They actually had the heaters on out here, too It's so strange because in Florida it can be so like nice and beautiful out like look at this Like right now if you were to look at this would you think you wouldn't need to have heat on it is so nice out But when you're in the shade it can get a little bit chilly and wow This is like a very beautiful shot right now with the crystal clear blue springs and then the springs bottling company Oh, I feel like I should take a photo Also, I wanted to point out my shirt for today. I wore this in the past But I love it so much because we were talking about like the Disney plus cakes and amorettes and it's alligator Loki And it's from Park Candy. So it's a good shirt. I really do love alligator Loki I can't wait to season two a Loki that is gonna be so awesome And here it is. Wow. This looks so so good This was $18 for this burger, but they gave me like a whole box of french fries I mean that is a lot of french fries I love how like a lot of these burger places are giving you like Huge portions of french fries like you go to five guys They fill up the carton and then they throw some on top and this is what deluxe burgers like and this is a double patty And you can see you got blue cheese. You got bacon onion jam lettuce tomato all the works I can't wait to dive into and the bun looks nice $18 burger and we gotta stuff some french fries on there, too. Anybody else put french fries on their burgers? I do it all the time.  That's the way. All right, here we go first bite Oh, it's a big one though. It's a big burger. Here we go That is so so good the blue cheese crumbles are kind of just like crumbling off the burger though I didn't notice that like they're just like they're just falling right off and I like it I really really do like it. They always make good burgers here and there's no way I'm gonna eat all those french fries I'll holy moly and these are so so good like these are good french fries naturally cut just the way you'll like it The onion jam is what makes this burger really stand out. It's a good burger But like the onion jam is like the only thing that's kind of special about I mean If you like blue cheese or like a black and blue burger, then that's good, too But the onion jam is like very distinct. I like it. It's good. It's a good burger Well, that was a good stop for lunch at Deluxe burger. I really did like my burger, but we need to keep moving along Earlier I was telling you guys that I was gonna be heading to Hollywood Studios to meet up with some friends Since there's not like a whole lot to actually go over here at Disney Springs like it is January They're transitioning from the holiday to like 2022 and also still like in that holiday period I figured maybe we'll just actually head over there and I'll continue the video because there's not a lot of new Things here. I mean Gideon's was good. That was new and they're gonna do that every month Also, we got a new burger at Deluxe burger. We couldn't get any of the fancy cakes and amorets So might as well have like a two-part video a two-part log. I think that'd be fun And just like that we have made it to Hollywood Studios So awesome to be able to just you know kind of park hop But Disney Springs really isn't a part but just to be able to hop from Disney Springs Hollywood Studios I'm not too sure what we're gonna actually do at Hollywood Studios like I said I'm just gonna be hanging out with some friends, but I would like to get on some rides if we can depending on the wait times I know what it is super busy So we'll see what we can get on without having to wait like an hour and a half or two hours Maybe we should start there. Let's check the wait times Looks like smugglers run is 65 minutes rise of the resistance a hundred and fifty five Mickey's run of a railway 65 tower of terror 60 minutes and slinky dog dashes.  It's just not mania Even though the wait times are long one thing That's not a wait is actually saying hi to goofy and max who are actually out at Echo Lake saying hi to everybody I love seeing goofy and max together Look at this father and son bonding time right here. It looks like goofy is trying to Tell max how to drop a fish in the water Oh, it's a fishing technique of some sort not like the perfect cast or anything like that Maybe oh, yeah, maybe it was the perfect cast. I don't know either way. I Like the fishing technique. Thank you goof. Yes. Oh nice The funny thing is is I can come to Hollywood Studios and I can just hang out here and listen to music and kind of people Watch and I'd be happy with it right now The Sun is starting to go down a little bit. It's gonna get dark really fast And it's just such like a golden hour for like the golden age here at Hollywood Studios And I love it like it's always so beautiful here It's also fun to be able to see the Christmas decorations still up. They're gonna be up for a little bit longer I wish we could ride Tower of Terror. We might look into that though. I mean the wait time doesn't seem too bad Because it's actually so busy over here and Rocking roller coaster is down at the moment The line for Tower of Terror is like out like crazy It's like it says 75 minutes, but it is much longer than 75 minutes So I think we're gonna go do something that I haven't done in a long time And it's probably something a lot of people haven't done You can see right here the line is going down sunset for Tower of Terror And then it's got a bunch of switchbacks right here and like I said, it says 75 minutes And there's nothing down here because Rocking roller coaster is closed So they're letting everyone know the only thing that's open is Lightning McQueen's Racing Academy And honestly, I think I'm gonna do it I think we're gonna go do Lightning McQueen's Racing Academy. It's a fun little show and it's something I haven't done in a while So I have done a couple TikToks before in my day But I've never really done a lot of dancing TikToks and I think we're gonna try it We're gonna do a little dancing TikTok here with the Rocking roller coaster. I'm excited. This is gonna be interesting We're ready I I'm still debating whether or not I'm gonna leave that in I like I said, I'm not really well like versed in dancing But it was fun actually doing it and these are the friends that I'm actually hanging out with and it's been a lot of fun I mean Sean mouse vibes and Mike It's been it's a lot of fun actually hanging out here at Hollywood Studios And it's the first time doing Lightning McQueen's Racing Academy and I told him it was a great ride like I told him it was like cars over in DCA so they're gonna be disappointed I Honestly feel bad that a lot of people don't come down here. It is really cool Look, you got all these photo opportunities You got crews and mayors over there and look at the view of Tower of Terror. Look at this Isn't that beautiful? It's breathtaking. Oh, look at you can hear the screams right here you That is amazing where's the screams coming from I have no yet The screens are coming from Lightning McQueen's Race Academy Basically this ride is like the better version to cars in DCA. Yes, and you actually drift. Yes Yeah, it is it's pretty yeah, this is like the better version of cars Yeah, this is like the better version of radiators For all the wrong reasons Wow, here we are This is this is live for yeah, this is something else Oh That was some introduction I Thanks, Mater That's right. He taught me how to drive backwards Tip tractors. I don't be a great friend. Yeah, and then you went on to win a heap of piston cups Now winning is great. No, but Doc taught me at the end of the day without your friends It's just an empty cup Right John It's a fun little traction. It's great for kids But I don't know I kind of wish it was still Academy of Villains here. That was something that was amazing Did you guys think it's better than radiator springs Yes, better than radiator springs Oh No And look it's dark out already. I like that it got dark so quick It's a 15-minute show and the next thing you know, it's like the Sun is gone. I know doesn't it? That's what we were saying. It's so beautiful Now I think it's time since we were right here next to the Lightning McQueen racing Academy Maybe a trip down or a trip on the Hollywood Tower Hotel. I Love riding the Tower of Terror, especially at night and it looks like it's only a 35 minute wait So I think we're gonna head right on in I'm excited The funny thing is is we actually got in line and it wasn't even 30 minutes It seems like it's about 10 15 minutes and I'm wearing some Happy New Year glasses So I can see everything when I look at the lights. It says Happy New Year. Happy New Year. Happy New Year. I Love walking through the Hollywood Hotel lobby. It is so nice in here. Look at all those cobwebs And we're so lucky to be able to ride it like I thought we weren't gonna be able to ride because earlier It was like 60 minutes, but for some reason once we got out of Lightning McQueen's racing Academy the wait time dropped like huge It went from 60 to 35 and then we only waited like honestly maybe 20 Oh We got the top row. Thank you At this point right now guys, we have the elevator to ourselves Oh, we can all sit right in the middle perfect left to right and left to right only So much fun, I love it when they sneak in that like extra bonus drop so so awesome But now we're gonna start making our way out time to call it a night I Love walking out of Hollywood Studios when it's kind of close to closing time. Look at how beautiful it is It's not anybody here like it's so cool because it adds to like that eeriness Especially after you get done riding Tower of Terror because it's kind of creepy Like kind of like a slow quiet sunset Boulevard And I guess with that I think we're done here. I don't know. It's been an adventurous day I wanted to like bring you guys along with me because I try to make like super like not super long But like long enough videos that you guys can enjoy so that's why I was like, you know what? I plan on going to Hollywood Studios bring you along with me mix it in a little Disney Springs a little Hollywood Studios I met up with some friends and we ended up doing the Lightning McQueen Racing Academy, which is a lot of fun especially because they never was like they never bet on it so we kind of hyped it up like it was an awesome thing and The cookies at Gideon's were phenomenal and also my burger was actually really good So like overall I had a great day and this is my first video for 2022. So a lot more to come in the future I'm excited and I hope you enjoyed the video. I enjoyed making it. We'll see you next time Bye Where's my pretty little princess? Oh, you want a cupcake? What? Huh? What is that? You want this? You want this? Okay? There you go. It's all yours. You can have it. Oh Yes, you this is yours right here. Oh, yes, you're like that


Pure water, that's actually fake news. Pure water is municipal tap water that's in process. You want to see spring water. Pure water bad, spring water good. Correct. When you see high alkalinity, like 9.5 pH, that's actually terrible. You don't want to be overly alkaline. You want to be Goldilocks alkaline, because too much alkaline creates calcium buildup in lead pipes. Who knows what it does to humans. Right. So what's the Goldilocks number that we should be looking for? 7.7 is the number of anything in the zone of 6.7 to 7.7 is kind of the zone. Balance alkalinity. You want to be balanced.


In this module, we shall study risk management in the context of Istisna as an Islamic mode of finance. Istisna as a mode of finance is a complicated structure and hence it should be expected that it would involve a lot of risk of different types. We can identify six stages or six types of risks involved in Istisna as a mode of finance. What are these risks? Credit risk, operational risk, liquidity risk, credit risk and markup risk and there could be a bunch of other risks as well which we would look at with the help of this rather complicated diagram. This diagram has been taken from a research paper written by Nasucha Ahmed and Barr and that was published in 2019 in the International Journal of Management and Applied Research and the title of the paper was examining the viability of Istisna for project financing and economic perspective. Let us look at this complicated structure. This is an Istisna deal and as you know Istisna deal may take some time. So, this is the contract deal date i.e. this is the date when Istisna starts, Istisna as a mode of finance its application starts in this example. As you know that in case of Istisna the price is paid in installments over the life of the construction of the project. In the beginning there is some price and then in certain intervals the price is paid. Now if this is the advance payment the authors they say that you know there is a value of this advance payment and this would face market risk. This investment in a way in the Istisna based structure would face market price fluctuations and hence there is relevance of market risk in this case. In simple terms if the asset which is being constructed due to changes in market conditions due to changes in the prices in the market the value of the asset to be constructed changes the perception about this changes that would bring this market risk relevant to this structure. So this market risk this is relevant to Istisna. Then of course during this period of construction there is always a possibility of delay so we call it default of manufacturing. So this contractor which was hired that might not be able to deliver the manufacturing at different stages as per the contract and of course this would give rise to a risk. If this is because of the mistakes or oversight this could be an example of an operational risk. So this operational risk is there as well. Then we come to the delivery date. Delivery date if there is a delay or there is a default on delivery of course we face a risk over there as well which would have implications for credit risk. So we have identified market risk, we have identified operational risk, we have identified credit risk. Now if there is a default afterwards there would be a possibility of delay in selling the asset as well so that would have some implications in terms of risk management. If we ignore this default and delivery the project was delivered on time however the prospective buyers they default to buy. So that could be another possibility of a risk again we would identify this as a credit risk. The guys who had committed to buy they decided not to go ahead with their purchases. Then there is this markup risk. Markup risk meaning this whole project was priced with the reference to a benchmark. A benchmark if this was a global transaction this benchmark could have been with respect to LIBOR. But in case of Istisna like in case of Salam and like in case of Murabaha once the Istisna price has been fixed it cannot be changed even if there is a change in the benchmark rate. That would give rise to markup risk. So this will be number 4. Now if there is this delivery on delay on delivery after the selling date. Now if after the selling date there is a delay on delivery that would give rise to all these operational market risk and liquidity risk. So we have these 4, 5, 6 risks which are quite inherent to an Istisna Islamic modes of financing deep. So let me summarize the things in case of Istisna there is a possibility of operational risk because it is a special project there is always a possibility of some mistakes, some oversights which could give rise to operational risk. There is always a possibility of default, default on payment or default on delivery IE delay that would give rise to the credit risk. There is relevance of the markup risk because the price in Istisna mode of financing is fixed that would give rise to markup risk and of course there would be relevance to liquidity risk all these risks they are interlinked. If there is a change in one risk that would change the perception of the other risk as well and its quantification. So it is quite evident from this picture and from my conversation that Istisna is actually quite a risky mode of financing and at each and every stage due consideration should be given to these risks and these risks should be mitigated accordingly as per our conversations in the previous modules relevant to Murabaha, Ejara, etc.