Hello, and how are you doing? Welcome to Hibachi Talk. Going to the techs out here, I'm here with my good old buddy, Andrew, the security guy. Hey, everybody. He's finally back in the house for once in a while, anyway, and we have a great guest today. We have Stephen Covey, Stephen M.R. Covey, the author of this fantastic book, The Speed of Trust. If you haven't read this book, look at all the little pegs in here. It's awesome. Stephen, thank you so much for coming on our show. Absolutely. Gordon. I would appreciate it. Thank you. You're going to set our show up at the whole match and a half, at least. Anyway, thanks so much for joining us. Please grab yourself a libation, sit down and join us, be the fly on the wall, and watch what's going on. Anyway, we typically ask all of our guests, no matter who you are, where you went to school. Where did you grow up? What's the little background of who you are? Yeah. Well, I went to school in Utah, Provo High School, and VYU, and then Harvard Business School. All right. What you'll find interesting is I actually spent one year going to school at Laie Elementary School. Oh, yeah. Beautiful. Really? Yeah. Yeah. When I was in second grade. See, that's awesome. See, that's something you never would have guessed. Yeah. Yeah.  There's a hotel up there now. Is that right? Best Western. It took place in Laie. Over around my school. The school's there. You have to swing by there if you're going north shore. But that makes you a local boy. Well, kind of. Yeah, absolutely. I don't have to claim it. I don't know if you'll claim me. Of course. That's terrific. That's terrific. Anyway, I had the pleasure of seeing your dad many decades ago presenting, you know, magnificent man. Just magnificent. I learned a lot from him. And my success is based on a lot of the things that he taught me when he was there. So it's great. And then your book is terrific. I mean, I just can't. Be honest with you. I didn't read it until you knew you were coming on the show. But boy, I'll tell you. I got into it big time. And I got to say one thing. We'll get into your commentary, but I've been doing work with Andrew for decades. And I never realized that all my work I do with him is based on one thing. Trust. Yeah. Trust. We do stuff without contracts. Yeah. We just do it. Because you trust each other. We trust each other. So with that, let's talk about you. You have the thing with the five waves of trust. So what are the five waves of trust? Yeah. Well, the whole idea is that kind of trust is built and sustained, grows from the inside out. Okay. So I use the metaphor, the ripple effect, you know, water, drop of water comes down, the ripples, the waves go out. The first wave where it all begins is with ourselves. Self-trust. Okay. Because think about it. If we don't trust ourselves, how are we going to build trust with other people? It's hard. At some point, that distrust of self will leak out, bleed out into the relationship. But then from ourself, it moves out into our relationships. Now you build trust one-on-one.  You know, you trust yourself. You then build trust with each other. The relationship, you build a relationship of trust. Right. And that's the second wave, the relationship trust. It then kind of ripples out again using the wave metaphor. But the third wave, which is now our team, our group, what we might call our organizational trust. And if I'm the leader of a company, it could be the whole company, but I could be the leader of a team. It could be my team. So whatever is kind of the team, the next level, the next entity that ripples out. And from there, it ripples out yet again to our stakeholders. I call it market trust. And that's trust with our customers and partners, suppliers, distributors. And from there, it ripples out yet again into all of society, societal trust. And then that's building trust in the community, trust in the broader stakeholders outside of us. And my main point is that, look, if you want to kind of diagnose something, the best way to diagnose is you start at the outside and you move in. Right. You look at society and the market and the organization. That helps us diagnose something. When it comes to trust, if I want to develop it, transform with trust, I start at the inside and they move out. So rather than looking at everyone else and saying, you know what, I can't trust them, that might be true, but how are we going to change it? I've got to look in the mirror and start, do I trust myself? Do I give to my team a leader they can trust? And then let that ripple out from yourself to your relationships, to your team, to your group, to the market, to the society. So diagnose from the outside in, but develop, change, transform from the inside out. That's how trust works. It's an inside-out process. So you think from a business perspective, and then we're going to pick on your company just because we do work. And I'll use Brian Malasek who's been another guest on our show, whose company I do work with. And again, I took contracts with this guy because it's all based on trust. But you know what? His crew and your wife's in charge of your company. When your wife's crew is on the job, I trust them. Sure. It's the crew. It's there. I just know I can trust that they will do what they say they're going to do. I'll give you an interesting thing. So we had our quarterly meeting yesterday, and we're big on openness. We're big on trust.  We can share the hard problems that we've got to work on. There's all these things to work on. You've got to be honest and you've got to trust people to share. And we took the test yesterday. We tested ourselves on these hundred points. Yes. I said, you guys are going to love this. And everybody was like, wow, they didn't really score as well as they thought. So we've all got some gaps that we can work on, which was great. Because there's also tools for ways to help improve. And it's going to start there. I love it. Absolutely. See, I kind of, we all intuitively know that trust matters. But what you two described at the outset, when you said, hey, I trust Andrew. We can work together. I never wrote it down. That's right. But you can feel it, right? Sure. Trust. You know it when you feel it. And what you feel is confidence rather than suspicion. But I call it the high trust dividend, as opposed to the low trust tax. Okay. See, when people don't trust each other, everything takes you longer and everything costs you more. Because you now got to take all these steps to, you know, to compensate for that lack of trust. You got to check. You got to verify. You got to validate. You got to question. You got to, you're certainly not. Nobody wants to do that. What's the agenda? So that contract, you not only have the contact, but it's this thick. The less trust, the thicker the contract. Sure. That's very good. Oh, I like that. It takes you longer to question more. That's why I call it tax. That's a tax. It is very real. I've never thought of it that way. It's very real. But the goodness of the dividend is equally real. When there's high trust in the relationship or on the team, in the company, in the culture with the customer, when there's high trust, the speed goes up with it. Everything happens faster. You're so right. And the cost comes down. It costs you less. And then that is a dividend, a high trust dividend. It's that simple. So why do we not know this? We all kind of know that trust matters, but we never kind of put it in economic terms. Yeah. What I tried to do with speed or trust was to put trust in financial terms, that it's not just social, it's financial. It affects the speed at which we can move and the cost of everything. And when there's high trust, it's a dividend, when there's low trust, it's a tax. And to kind of have that paradigm and let people see it maybe for the first time and to quantify it. And then kind of the second big thing is that it's learnable. We can move the needle on it. It's not just something you either have or you don't.  And so one of the things in the book was, you know, Warren Buffett, how many deals he put, a billion-dollar deals together in 30 days. Absolutely. Based on trust. In fact, I've been with a couple of the CEOs that he's done these deals with. And they said it's amazing. Number one was Grady Rogier, McClain, $23 billion company. So a huge company. The deal takes place on a single, after one meeting. One meeting. On a single handshake. That's a B. B, by the way, folks. So they have one meeting of two hours. They shake hands. 29 days later, they have their money. They did no traditional due diligence. Why? Because they started with trust. You know, Buffett himself is so credible and trusted. It's like a currency for him. Yes. He's got a reputation that precedes him. Right. Just like you kind of said, when I deal with Andrew and his team, I know that I can trust them. That's a brand, a reputation, a currency. Buffett's the same. They can go in and Buffett knew about Grady Rogier that he would always do what he says he's going to do. So with trust, they can go in, do a deal on a handshake, close it in less than one month with no due diligence. That's what I call the speed of trust. Without trust, you could never do that.  That'd be crazy.  So now we start looking at the speed of trust. I mean, there's the foundation. You have this. You talk about the foundation. So kind of elaborate on that and educate us on this. I'm sorry. We only got 28 minutes. We're cramming you. That's good. It'll be available tonight. You're going to be at the BBB. I have another show in here tonight, or I'll be down there. Yeah. I've been invited to be part of the Hawaii's BBB. The Torch Award. The Torch Award. That's going to be amazing, yeah. Yeah. For ethics. That's great. I'm excited. These are local companies, businesses that are kind of good standards and models of ethics and excellence and trust, really, which is the BBB. Which we're part of. Oh, it's perfect. We're part of that. Yeah. So talk about the foundation now. I love the waves. Now we've got the foundation. Yeah. So the next piece. Yeah. So my premise is that trust is learnable for a leader, for a team, for an organization. And you've got to go inside out. That was the five waves model, which is saying, don't wait another. Start with yourself and then ripple out. Now what do you do? Okay. Well, the first thing you do is to put in place the foundation. And I use this as the foundation. Use the metaphor of a tree. And the foundation is the idea of credibility. Trust starts with credibility. For the Latin term, criteria, it means to believe. So credibility is believability. I use the metaphor of the tree. We've got the roots and the trunk of the tree. See, that's like character. The roots is integrity. I start with the foundation of integrity. And then the trunk is intent. That's my agenda, my motive. And if people are seeking mutual benefit, win-win instead of win-lose, and they care about those that they're serving and working with, people tend to trust them. But if they don't think you care, or they think that you have an agenda, a self-serving agenda, they tend to not trust you. Now, of course, if you don't have the roots, the integrity, they don't trust you. So integrity is the roots. Intent is the trunk, the caring, the mutual benefit. That's part of our character. Then the upper half of the tree is those from our competence. Because not enough that someone's honest, they also have to be able to deliver. Yeah, they have to be good at what they're doing. Yeah, but they have to be good. Can they do what they said? Yeah, and if they're honest, but they can't deliver, then, hey, I trust them, am I going on vacation? You tell me to watch my home, right? If they're honest, I'm not going to put them on the project if they can't deliver. So I've got to have the upper half. The upper half is the competence half. Right. And so I use the branches of the tree and the fruits. And the branches are capabilities. What's our expertise, our knowledge? And the key question here is, are we relevant, especially in a changing world, right? We've got to stay relevant, learning, growing, improving, staying relevant. So those branches produce the fruits and the fourth core of credibility are those fruits. So that's our results, our performance. And, you know, our past performance, our current performance, why does that matter? Because people project upon us future performance. When they see a track record of results, it gives them confidence. Yes. But there's no results, then it's kind of like, I'm not quite sure.  You're honest.  But, you know, you need to see the upper half of the tree as well as the lower half. And the combination of that character and the competence, those four dimensions, is credibility. And with credibility, you can build trust exceptionally fast. So Warren Buffett, he's so credible. He's got a reputation for it. He can go in and without a lot of interaction with people, he's already on third base.  He's just because he walked in the building. He walks in the building. Credibility, character, competence, these four dimensions. And so you can build trust exceptionally fast that way. So with that foundation, you can do everything else so much better, so much faster. And it's a great way of starting. And the great thing about it is it's practical. I can get my arms around that and kind of look at, hey, if there's a lack of trust for whatever reason, is one thing if there's a lack of trust, say, because there's, you know, low integrity. Right, right. That's one kind of issue. But what if there's a lack of trust because of low results? Yeah. That's a different issue. But what if it's low intent that you're seen as being self-serving or low capabilities you're not seen as current and relevant. These are all different issues. These four quarters of credibility help you pinpoint it and to diagnose it, to know what it is, and most importantly, to know what to do about it. Now you can move it quicker. Yeah. I kind of wonder, were Warren Buffett, was he imbued with trust or did he ever describe to you where he learned that and how this emanates from him so readily? Yeah, I think that if you look at his track record over five decades and kind of public life this way as a CEO, you see he always saw the importance of the roots of the tree and the trunk. Right. Kind of the character. You know, he's known for integrity. But then also, what really puts him over the top is not just the character side. That's what gets him in the game but then his performance, his track record. Which is unmatched. Unmatched. And you play it out over time, it's unmatched. And so he's credible when Warren Buffett talks, people listen. So believe it or not, we've gone through the first 14 minutes so we're going to take it off. And you're not too excited about what you're talking about. I hope not. I hope not. I think maybe... I'm not sure if you can find it. Good. Steven Covey, I got Andrew, the security guy, go over to the tech sour. We're going to get Angus for a brief minute and then we'll come back and we're going to talk about another segment in the book that I truly liked. So anyway, we'll see you in a minute. Hi, I'm Tim Appachello. I'm the host of Moving Hawaii Forward, a show dedicated to transportation issues and traffic issues here on Oahu. Join us every other Tuesday at 12 noon. And as we discuss how we try to solve our traffic headaches, not to include just the rail, but transit and carpooling and everything in between. So join us every other Tuesday Moving Hawaii Forward. Thank you. Hi, I'm Nicole Alexander Enos and I was born three weeks ago. Congratulations on being there for me for some of the few weeks of my life. I'm starting a new show, The Millennial Mind, every Wednesday at 2 p.m. for the month of April where we'll go over some of the reasons why millennials are some of the most anxious and frustrated people at the moment. Hi, everyone. Ted Rawlson here, host of our think tech show Where the Drone Leads. And a lot of you, of course, have been setting your clocks at 4 o'clock on Friday so that you can make sure you see our show. It's now changed. It's now going to be at noon on Thursdays, noon on Thursdays, new standard time for Where the Drone Leads. And Where the Drone Leads is two systems like this, capabilities that we're using in Hawaii these days. And we need you to pay attention to this to be part of it. So see you at noon on Thursdays. Hey, hello, everybody. And welcome back to Hibachi Talk. We found Angus down on the beach as usual. Angus, what have you got for us today, buddy? How you doing there, dude? Very well, man. I want to tie it in because we got Mr. Kami in the house. Good. I'm glad you're looking spiffy. I thought you were going to tie it so I was always set up for it. Thank you, sir, for being here. Thank you. I'm just going to do one little thing and you never have to say anything. But you know, I'm a MEP at the government right now. Let me show you the picture. It's a walk-around tune. And look, and there's three polls I found in the past week. This is it. This is the city and county of Harlem and the plan committee. That's our maintenance program. That's our maintenance program. So, you know what? Guess what? I didn't have trust in government. And I'm going to leave it with that. But thank you so much for being on the show. Angus doesn't trust government. What do you think about that? How do we keep trusting government? This is kind of a good, you know, it goes out to that societal ring at the end and we take all our trust out and what's government give us back? What happens? Where's the trust lost, right? Or where's it gained? Or how do we get them to... How do we get... How do we trust them again? That's what I'm trying to say. And you're going to work. And I wanted to put you on the line. I want to trust and I want to believe. I do. And I do often. But not as often as I'd like. Well, it's interesting because if you look at the data, Edelman trust barometer, other measures of trust, there's no question that as a society, we've lost trust in many of our institutions, including in government and in political parties. And in universities and you can just remember that. And in media and in police media. Including in large business. Yes. And so here's the key principle because this is not easy. No. You know, regaining trust, restoring trust. But here's the key principle. You can't talk yourself out of a problem that you behaved yourself into. That's a good one. There you go. If we've lost people's trust because of our behavior, the only way to get it back is through our behavior. Words alone are necessary, they're insufficient. We've got to behavior back into trust and we need to do that as a society, as leaders. And my main thing is that while it's very real what's happening all around us in society and the marketplace and with government and other institutions where maybe we're seeing a loss of trust is that rather than kind of letting that then define us and how we approach it that's too much outside in. Let's try to give them an example of building trust, high trust team, let that culture let that ripple out and watch the effect that we might be able to have in our communities, in our businesses and ultimately maybe even ripple out into all of society. So you even think sports? I mean you just, I don't know what, just triggering me. I saw Rolovich, a coach of the University of Hawaii football team in downtown today trying to raise money for the football team. Now this is a coach of the university, a division one football team down in downtown. And there's a lot of trust there but guess what? All these players have to trust and look at trust in sports teams and being a teammate. Why is trust? You've got to trust both the character of your fellow teammates and their competence. Character that they're not just that for themselves, their own word but rather the team and the competence that they'll be what they're supposed to be, they know what they're supposed to do and they'll do it. They know how to make that blocking a stop. So I'm going to throw up the book here but in this book you have these thirteen behaviors of trust. Wow, I've got a guide helping me go through this. You have a whole chapter on behavior. All kinds of different things that happen. If you take the test it shows you what you need to work on and yourself. And here's these 13 things that nobody gets about 100% all the time. There's some situations where you maybe trust yourself or have more competence. Sometimes when I'm cooking my wife looks at me like could you please leave the kitchen? I don't must not look like I know what I'm doing. So I think she trust me but there's that true. My wife doesn't trust me with doing the laundry but there's a reason for that. See? I don't want her to trust me for doing the laundry. So sometimes it's situational. I guess it's kind of what I'm saying. But these 13 behaviors right here. Some of the ones that you got 13 here I know we can't cover 13 in a few months but some of the ones that really come out to you that really you know people to really start focusing on. These are all 13 but the ones that jump out at you. Yeah, yeah well here's a couple of things. There's the behavior which is kind of straightforward common sense if you look at those 13 things all straightforward. Yeah. There's the opposite of the behavior and then you know that's doing the opposite that's also like common sense.  See it looks real but it's not when you're more closely inspected you realize it's fake it's fraudulent so let me illustrate. Okay. Let's take first talk straight means that we tell the truth we call things what they are we use simple language candor is a language of trust. So you know you tell the truth you build trust we learn that in kindergarten right we also learned the opposite that you know if you lie you destroy trust. Sure.  Straight forward we learn it in kindergarten. What makes this so hard what makes it hard is the counterfeit we call spin. It's the spin and the twisting and the manipulate and the pattern is when people quote they technically tell the truth. But they leave the wrong impression. It depends on what it is. Yeah. So yeah. They're technically accurate but they're completely misleading. As a result trust goes down. So our challenge is probably less flat out the opposite. Occasionally it is someone just flat out lies you know there's not going to work we know that. It's the spin because the spin works and it's acceptable but it comes to the price trust goes down and so the opposite will sink us but the counterfeit is what's more common in teams and cultures not evil people doing evil things occasionally happens but it's more that people get entrapped in you know hidden agendas instead of creating transparency over promising and under delivering instead of keeping commitments you know pointing the finger and blaming other people instead of practicing accountability and holding yourself accountable so I can go through all the behaviors which really trips us up is that counterfeit but I'll highlight another behavior so I'll highlight the first and the last the first one talks straight be straightforward open you know in that in this BBB event tonight you know they talk about advertise honestly and you have ethics and a foundation of integrity so you're telling the truth first is trying to manipulate spin position posture because that looks like a bait and switch you know that I said well I told them the truth you know but they might have been missed because you left something out right and then you start to wonder about everything you look at can I believe this and you doubt that so you know straightforward but let me highlight the last behavior okay extend trust extend trust and let me tell you why that's so vital because there's a reciprocity to trust and also to distrust and when when when you don't trust somebody they tend to not trust you back and you know you don't trust your partner your supplier distributor they tend to not trust you you don't trust your customer they tend to not trust you and so distrust is contagious people who don't trust each other tends to become a vicious downward cycle and that's kind of the challenge we have in our society today is there's so much low trust we all become none of us want to get burned right so we become more careful cautious guarded we lead back with being careful cautious guarded guarded people respond back being careful cautious guarded suspicious and it becomes a vicious downward cycle of distrust and suspicion creating more distrust and suspicion and everyone feeling justified so here's my point back to you that is that can you rebuild trust yes and you talk about that in the book I think it's a good point to talk about can you rebuild trust absolutely you can but it's not easy yes and but and I also acknowledge maybe in every situation you may not have a chance like burning made off might have a hard time no you're building trust not because it's okay in the kitchen in the kitchen but we can't let him cook the books yes you know just because the nature of the loss of trust over a period of time so agreed just too big too big but in most situations we can if we're willing to behave our way back into it okay and again we can't talk our way back into it we gotta behave our way back into it that would take some time so these are 13 behaviors of how you can do it here's how I might do it and I'll use the behaviors to say it okay so let's say I bought someone's trust right you know one of the behaviors is I confront reality that we've lost the trust versus denying it acting like it's not there right then another behavior is I practice a kind of body I own it I take responsibility for it versus pointing the finger blaming everybody else because if I'm blaming everybody else well there's five fingers pointing back we're doing this there's fingers pointing back oh I had a bad day you just don't take account it's just hey it's gotta own it I call that practicing a kind of body start it with yourself so I confront the reality I lost trust I practice a kind of body I own that I take my part in this then I gotta right the wrong you know right wrongs right you make it right when you're wrong that might be include apologizing it might mean making restitution as a legal concept to make whole I make it right as best I can and that will help but there's still more I gotta do now so I gotta clarify expectations going forward to regain and re-earn their trust I tell them what I'm gonna do you know rebuild their trust hey here's what you can know about me I wanna gain your trust back I'm gonna make it right here and then going forward just know something if I ever make you a commitment I'm gonna keep it or else I won't make it if I have an issue I'll come to you with the issue I won't you know I'll be transparent I'll be open I'll go straight to you I tell them what I'm gonna do then the most important thing I now keep commitments I do what I say I'm going to do and I behave my way back into trust as I behave my way out of it right and it's not easy but it's possible in most situations as long as we're willing to behave our way back into it and I would think over time people will forget about the distrust that they had with you and remember the trust going forward because now they're counting on you they're counting on you and you build that reputation back you've earned it back okay it's not easy I wanna hide that the story with your nephew when he got angry that was great you know and it took a while it took a while and you showed serious commitment to Arnie back and he finally said okay it was a while right that's right I did a dumb thing with my nephew and I had to earn it back and I couldn't just say hey sorry trust me he had to see that I really cared and that I built the relationship back and I behaved my way back into it so not easy but possible that's encouraging because in a low trust world if we could never restore it we'd all be you know discouraged about it and I think that we can and that tax that continues when that downward spiral you're talking about when there's distrust every transaction costs more and more and more so that it just degrades it's exhausting it's exhausting you guys are running out of time we are running out of time anyway so running out of time and I just think Steven it's a great story I encourage people to please read this book whether it be business, family, whatever please read and I wish our government officials would please read this book yeah that'd be amazing that'd be awesome we should send them a case of books let's do that can they read? yeah I'm being a smart old anyway Steven we give all of our guests an autographed solo cup and you got number one eleven in this series and we can say now it's really in high profile places thank you so much for joining us and your really busy schedule great luck tonight I'm sure you'll have them standing in the aisles and remember trust trust I'm going to change my license plate trust that's what it's going to be but thank you so much you're welcome and we have a call that we do at the end of every show and we talk to you at that ceremony so as we do at the end of every show one, two, three how you doing?


Hello there everyone and welcome. This is Melissa Armour with the Stock Swoosh and I wanted to talk about GME. This is obviously everyone that's ever been trading and the last two, three months has heard of this stock and what's been going on with it in the chat rooms and it's had its earnings tonight and it's tanking. This is no surprise. It's almost to the point where, you know, again, I'm not trading anything that the reddit people are trading because you can't read anything in the chart with any level of accuracy. The stocks are getting halted a lot and they're just burnt to me. But this is a great example here where, in fact, I'm just going to go back to yesterday. The stock had a big rally yesterday, launched the whole thing on the live day by the end of the close, then tried to move higher today and now is tanking on earnings. People are long this and they're getting killed right here. So most of these groups, these reddit groups are going long. Why? Because in the accounts they can only go long. There's certain restrictions in certain stocks that they've been trading or if they don't have enough money and they can't have it set up that they can short depending on where they have an account, they can't short. So most of the positions that the reddit people in these chat rooms have been taking are long and they're based on no strategy whatsoever at all. They get together and group and say we're going to go long it. While there's nothing wrong with that and people can do whatever they want with their money, I think that for me personally, the stocks are burnt that they've been trading and I think it's very dangerous to trade something when you can't look at it with a level of accuracy to read what's happening with the institutional money, whether it's buying or selling coming into it. I mean this is so predictable here that this would be falling earnings. I mean again, I do not want to trade these things because I think they're a disaster and they're just burnt. These stocks are ruined now because they've been traded by these reddit groups. But if I had taken a position in this into the earnings, it would have been short. It would have been to the downside. I would have done a put in it because a put has a fixed risk. I did not do that. But this was so, so, so, so predictable. I can't tell you how predictable it was. In fact, it was even predictable yesterday that it was going to lose the bar. I didn't know if it will lose the bar today or on the same day, but it did it exactly on the same day. It ran up to $344.66 yesterday and ended up closing to $300. So it ran up and then lost $44 on the same day. It's just nuts. I mean, in fact, let's look. This is the gap happening live by the way. So this closed today at $30256 and now you can see it's at $272 and it's continuing to fall. So here's where it is. And this is early. It's like $515. So, you know, this is a long way till tomorrow morning. It could be here till tomorrow morning. I don't know. Anyways, it's unfortunate that, that, that, that shack group has burnt stocks and all, you know, that I just won't trade again because the charts don't make any sense because of what they're doing. There's a couple of them. There's one of them. But I think the most concerning thing, which, you know, what I'm talking to people and they're telling me what they're doing is that people are risking money in the market. And it's not just this. It's other things that people do. I find this a general concern. People risk money in the market without knowing what they're doing. So whether it's $5, $500, $5,000, it's your hard earned money. You should know what you're doing before you train. You should know what you're doing before you train. I mean, I never took a position in the market with my own money without taking a class first. And while the class, an only class that I ever took trading did teach me how to make money. It did teach me some things about trading, which allowed me then to proceed and teach myself and create my own strategy, which I do today. And I don't do anything that's not gaps. But I'm saying these stocks are so burnt that I can't even read the gaps in these with any level of conviction or high level of probability that they're going to go right because of the fact that, again, it's not being played right with institutional money because really funds are staying away from these stocks, too. Or you would have seen different reactions in some of the moves that this has had. Yeah, so bottom line is I just want to hear what I said on this one. So that was over a month ago. So I was talking about that. Like it was an Ameritrade that night. It was right after my hit and this had earnings and then boom. So ever since then, let's just look at this from where it closed day after the earnings report. It closed at two 2039 and the stock closed Friday. Again, this is a little more than a month since then and it's dropped, you know, 50 some points since then. It hasn't rallied at all. There's a lot of people trapped long here. And again, they keep talking about holding and holding. You know, I'm not sure why anyone ever said holding stocks is a good thing to do or holding losers. Losing trades is a good thing to do. I'm not sure why people think that.  They can't realize the loss.  And consequently, then they end up losing more. Every single person that's ever traded in the planet, people that are successful, I'm talking about. Obviously, people that are losing money in the market take losses and lose. And they realize those losses all day long, every day, 200 plus trading days a year. But people that are successful still realize losses in the market. No one has 100% win ratio. It's just not possible. People that are successful understand that sometimes you have to take a loss and that the intellectual thing to do and the intelligent thing to do is to sometimes cut your loss. When you realize you're in a bad position or the positions moved against you and it's not going to recover. Not that this will never recover, but it was really obvious to me June 9th at night before it even opened on June 10th. That it was going to fall on June 10th, which it did. Again, I refuse to trade anything that is involved with any of these ready people. This fell and then it continued lower. I'm sure there are people in these rooms that are really hurt in these positions. They could be options. They could be swing trades. It could be overnight. I don't know. But the reality is I'm, I can't say I'm shocked because it never surprises me what traders do. Having taught traders now for 10 years since I've had the stocks, which really nothing surprises me anymore as far as hearing crazy stories about things that people choose to do with their trades. Horror stories I hear from people every week when I talk to people about my class or thinking about trading and don't know what they're doing to have lost money in the market. But when you're taking trades for no reason at all, none, zip. No strategy here whatsoever at all if you're long this. Then it's not surprising why people are losing. Now people may think fundamentally that the stock is strong and going to continue higher. If that's people's belief system and that's the reason that they're in this trade. They need to be in it in a long position that it could continue higher. It may not, but it could over the course of the next 10 to 15 years. There's no indication here this is going to continue higher anytime in the short term. None, none whatsoever. It tanked on the earnings. It's fallen off. The trade virtually, the stock that virtually doesn't even trade in between the moves that occasionally happen in this. The stock is just flat line for days and weeks and weeks and then it has a big move. It's a very volatile thing to trade now because the reddit moves are in it, moves are in it. And if people happen to be in it when it has a big move, people don't get out because they think it's going to continue. And this is finally it and then they stay in it too long and then they lose. I mean that is exactly what happened here. People did not get out here and here into this pop up before the earnings. Probably thought it was going to continue higher and the earnings are making new high or go back to 500. So wherever was the previous high, where was it? Didn't quite get to 500, I don't think. Let's say 483. So anyways, getting back to what I was saying for all the years I've taught people, I guess I'm not surprised, but I am still surprised that people trade the market and listen to strangers and get trade ideas from strangers and don't know what they're doing. I guess it'll always surprise me. And you know who most people do it? Most people do it that don't have enough money to trade. So they have small accounts and they're taking ideas from strangers and they don't know how to trade and they don't want to pay for class because they have limited funds and they feel like they want to use their money to trade and they don't know what they're doing and consequently lose and then they have no money to trade and no money for a class to learn anything right whatsoever at all. I would never take ideas from strangers about my money. Never ever ever ever. I never have. I never will. I never ever ever ever ever will. I just won't. One, I know how to trade. Two, I'm the best at predicting anything that's in the market including the market itself stock wise, trade wise doesn't mean that I don't take trades that sometimes lose, sometimes I do but I trust my decisions better than anyone else because what I do with gaps in my 26 point rating system is so, so good and it really helps to predict where something's going to go and the few times that I do lose over the course of a week or a month is usually because I got the timing wrong and something not the direction of bias meaning that it's the trade is going to work at some point and I was off in the timing. I mean my long term if I could just take positions swing trades and everything that I trade never have to worry about an options expiring never have to worry about covering a day trade on margin before four. I probably would have like a 99% you know win ratio or something crazy but you know I have to watch my funds I trade on margin during the day and I use options you know to protect myself for the overnight positions but it's interesting to me how people are taking trades and chat rooms without knowing anything at all and they're doing it a lot and I guess it's not surprising like I said but it is, it is and it isn't because I hear the harsh stories I'm familiar with them for 10 years but this phenomenon about these reddit rooms and people taking trades from strangers with no strategic reason is it is shocking I mean it really is shocking and I these are all stayaways from me they have ruined these charts ruined these stocks they flat line in between it's no surprise they fell and I could have shorted it and I if I did predict it was Laura's right but I didn't take a position in it because it's gotten halted way too many times and it's just completely just off the like the reddit rooms have ruined these stocks like they're garbage now to trade I mean you can look at this here like look at this even here it's of course garbage, kind of a shame really anyways interesting to hear what I said about it I don't know when the next earnings are in this probably not till the end of August or beginning of September because these were late late from the last quarter in June probably not till the end of August or early September really so people are probably going to stay long here that are long until for another two months or six, seven weeks until it reports again and God knows where it could go I mean really who knows I mean this is getting pretty close to 150 and if it breaks 150 it could go to 100 in the blink of an eye again I'm not sure at this but I wouldn't be surprised anyways really the lesson for today the stocks which lesson for today is do not take trading ideas from strangers even people that come to me learn my system before they join the live trading room learn what to trade and why you should be taking a trade before you risk your money in the market that is the stock swish lesson of the day people and I couldn't think of a better example than this to describe it to you good luck everybody if you're interested in learning my class it's July classes July 24th and 25th email me at listofthestocksswish.com to sign out thanks


There's a question of how much, you know, British banks that are keen in global financial intermediation over time might be willing and able to intermediate further flows of capital, some of which are going into emerging markets. There could be some reduction of those intermediation and inflows. But I think that many of the channel transmissions are going to be also true sentiment.


This article synthesizes research on the relationship between social disadvantage, health literacy, and health disparities in the United States, offering a novel conceptual framework that presents how social determinants of health interact with health literacies to result in health disparities. The article highlights the limitations of current HL research and recommends future research directions. This article was authored by Dean Schillinger.


The following is a presentation of TFNN. The TFNN Bull Bear Training Hour. Every training day, live at 10 a.m. Eastern. Call now, toll free at<PHONE_NUMBER> or internationally at<PHONE_NUMBER>. The TFNN Bull Bear Training Hour. Now, Tommy and Tommy O'Brien. Good morning everybody. I'm Tommy O'Brien, coming to you live from TFNN headquarters in St. Petersburg, Florida. 10 a.m. Eastern time on Monday morning, checking in on markets. We have the Dow right now at 62 points, trading $26,860. S&P's positive by four, trading at $29,82. NASDAQ negative by three points, trading at $8,099. Tom's going to be joining us right after the first break, checking out some of the charts this morning as we open up the week in trading. We're getting a little bit of volatility on the opening bell. So 9 a.m. this morning, you had markets, basically pre-market highs. We touched that level about three times in the Dow of $26,877. You spiked down to a quick low right after the opening bell of $26,811. And then we're seeing those markets climb right up back up to that level. $26,866 right now in the Dow. NASDAQ 100, we haven't quite got the bounce that we did in the Dow. NASDAQ trading at $7,885. You spiked down to a low of $7,850 at 10 a.m. eastern time right as I came on the air for that first market update and $7,857 right now. S&P 500, it's sliding a bit as well within the last hour at $905, trading at $2,991. You trade down about 10 S&P points to $2,980.75 and we're up a few points from there. Crude oil bouncing around this morning, reaching some highs of $5,760 on the dot. You have crude trading at $5,738. There's your gold contract spiking to a high of $15,2359 at exactly 9 a.m. this morning. These are five-minute bars we're looking at and gold now trading at $15,1742. And we're getting a little bit of Euro strength dollar weakness. You have the Euro trading at $110,60. Keeping on the idea of currencies on yields jumping over. So we have yields rising again this morning, the 10 year right now, sitting at about 1.618, jumping over to that chart. There is your yield. You put this on a shorter time frame. You're seeing some action right above that 1.6 mark. Putting this on a longer time frame, pretty remarkable. September 4th, we were sitting on a 1.466. We're now back above 1.6%, putting this on a longer time frame chart. Quite a pullback. We're back a full percentage point from where we were trading at just about five months ago in the middle of April. Other news you have out there on the market, I mentioned it in the market update as well. AT&T shares trading dramatically higher this morning. But pulling back before we dig into the story, checking out the chart, because it's paired some of those gains this morning. The market getting a $3.2 billion stake from activist investor Elliott Management. AT&T trades from 7.30 a.m. from under $36.50. Almost reaches $40. But from that price level, you've now pulled back about half of the gains, even more so. You have AT&T trading at $37.83, more than $2 off that high that it reached about two hours ago at $805 this morning. And jumping back to the story. So there it is. And of course, this article written earlier, 7% that number we saw just at about 4.6% now in the positive. As AT&T soars after Paul Singer's Elliott Management sends a letter to the company's board and announces one of the firm's largest stakes ever in the telecom giant. The activist investor sent a press release that owns $3.2 billion of AT&T stock and that it believes the company could be worth at least $60 a share to recap right now. Trading at $37.85, that would be quite a pop. That'd be almost 60% from where we're trading at right now. Jumping back to the story. Well, it's too soon to tell whether AT&T can create value with Time Warner. We remain cautious on the benefits of this combination, the letter red. And so AT&T shares trading higher and pulling it back $60 per share, catapulting the stock up 7%, but some of that's been paired just because they said 60.  The purpose of today's letter is to share our thoughts on how AT&T can improve its business and realize a historic increase in the value for its shareholders. Elliott believes that through readily achievable initiatives, increased strategic focus, improved operational efficiency, a formal capital allocation framework and enhanced leadership and oversight, we're looking for $60 by the end of 2021. So you're talking about 27 months basically. You'd get that return. Other news out there. You have Chipotle getting an upgrade as you have digital sales potentially helping drive Chipotle stock upward according to the analysts over at Wedbush. Check out the price tag. The firm upgraded the stock to outperform from Neutral and hiked its 12-month price target to $980 from $780 in March. Chipotle started a loyalty program as part of a strategy to build digital engagement, driving the stock up nearly 40% since the launch, jumping over to Chipotle Mexican Grills, CMG. They're getting a pop on those news. $857.50 the high. So they were looking for, again, $980, I believe was that price target. So we're sitting at $857 and putting Chipotle on a longer-term chart dealing with quite the woes of their E. Coli outbreak. You go from $754 all the way back in 2015. Pretty remarkable. We were talking about four years ago that story first broke in about October of that year. You trade from $754 and then quite a run of these, they've turned things around. We're talking about just February of last year. They're sitting about $250. You're now sitting at all-time highs in Chipotle at $857.51. Other news out there in terms of target rolling out potentially their loyalty program nationwide. Target's new loyalty program set to roll out nationwide October 6th, less than one month. It offers birthday rewards, other personalized coupons. Of course, Target trying to compete with the likes of Walmart and Amazon Target just getting quite a pop on their earnings last week. Well, or a couple weeks ago, we'll pull up that chart in a moment. Target said over 18 months more than 2 million people have already enrolled in Target Circle, which doesn't require the person to pay a membership fee or have a target credit card. It said those people have completed more than 14 million transactions and that people using Target Circle are spending more in stores and online than those not enrolled.  But nonetheless, check out the Target chart this morning. Basically flat. This is a long-term going all the way back to the year 2000. We'll put this on a little shorter time frame, even over the last year on a daily, quite a rebound from $60 just on that December 24th spike low in all of the markets last year. Target rebounds from $60. We're now sitting at $109.91, reaching a high that looks like on Friday of $110.94. And there is that earnings surprise I talked about. So August 27th, excuse me, August 20th to their announcement on August 21st in between you have Target going from the close on $820 of $85.50 when up $25 from that price level just from August 20th. Other news out there jumping around to what we have, pulling it over on this screen. We'll get there. Apple denies claims it broke Chinese labor laws in iPhone factory. Apple continuing to face some headlines are rough. Apple on Monday denying most of what is in a report which alleges that the iPhone maker and its manufacturing partner Foxconn violated Chinese labor laws. A report by China Labor Watch a New York City based Labor Watchdog claimed around 50% of the workforce employed in August at the largest iPhone factory in Jiangzhou, maybe, Xinzhou, I'm not China. Probably saying that correctly. Incorrectly. Where temporary hires also known as dispatch workers, Chinese labor on the other hand states temporary workers cannot exceed 10% of the total employed. Jump over to Apple. And again, we'll zoom in. This is just the yearly chart. Apple having that spike low right around December 24th actually reaching the low on January 3rd of 142 trading at 2.15 right now, putting it on a five minute chart. You can see actually up almost 1% this morning with the market. Stay tuned, folks. Come back. Tom's going to be joining us. We'll break down this market right now. We've got pretty much markets flat. S&P's flat. We've got the Nasdaq. Negative about five points. We'll be right back. If you're not currently using the Taz profile scanner when looking at setting up your trading opportunities, then your arsenal is short a mighty weapon. The Taz profile scanner is a standalone piece of software that instantly filters over 2,500 global financial markets such as stocks, ETFs, commodity futures, and forex. Heated by Steve Dahl, Taz understands that in today's technological world, the use of top flight software applications and technical analysis expertise is essential to successful trading in today's market. You also gain access to the webinar that Steve Dahl and Tom O'Brien just hosted, the best way to use the Taz profile scanner to profit. This webinar archive is available for all subscribers immediately upon signing up. All new subscriptions also come with a 30-day money-back guarantee, so you have nothing to risk. Start your subscription by visiting the front page of TFNN.com today, and you'll find the Taz profile scanner under the Services tab. Sign up today. Are you in the market for buying or selling real estate in the Bay Area, including the surrounding St. Petersburg, Tampa, and Clearwater markets? Tiger Real Estate LLC is a firm that has extensive experience in the Tampa Bay Area. 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Hear all of the TFNN shows, plus see all of the charts as they happen live and head access to archives of all of those charts. You can test drive the Tiger's Den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you. All details on the Tiger's Den are on the front page of TFNN.com. TFNN has launched our brand new website. You can still visit us at the same TFNN.com URL, but when you do, you'll see a new and improved homepage with a much simpler navigation, whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions. We even have new pricing in six months and yearly options. Check out the new TFNN.com now and experience all the upgrades. TFNN.com, educating investors. Call now. Toll free at 1-877-927-6648. Internationally at<PHONE_NUMBER>. Folks, welcome back folks. Appreciate you growling a problem with us out here. We'll get there. What's that? Monday morning, baby. It's trading actually. Let's go. We have the Dow investors right now up 87 Nasdaq as flat. S&Ps are up four. Gold contract. Gold contract flat at 15-14 an ounce. We have silver up four cents. $18.16 an ounce. Light sweet crude. Up 88 cents. $57.40 a barrel. Notes and bonds. You get the 10-year down to 19 ticks. 130, 24, a 30-year off a point. And 22 ticks at 162.26. King dollar. King dollar down 200 ticks. Trade 97-725. The euros at 110 yen is at 107.4 and the pound is at 123 to 1 US dollar. So let's get over here and take a look at this S&P. So we had the S&P. So Friday, folks, the S&P tried to get to a higher high. Couldn't handle it. Today, you got to a higher high and we'll see how this baby shakes out. The highs of Thursday, which was a big day, 2987. Yeah. You know, we got to 2993 today and we'll see whether it can handle it. And we're within a point of that high right now. So we're at 2986.75. And the number is this August 8th. August 8th is a monster. It went from 3,017 to 2,947. I think it's August 1st there, yeah. Yes. And if you take a look at the spy, what you're going to see is that that's where they were unloading this thing in a huge way. You know, 142 million chairs. Thursday was a good day. We came into that with 83 million, but it was still 143. Sure. Friday wasn't. But Friday just went sideways of 49. This is where the side of this is, that's the battle line right there. Notes and bonds. Let's go take a look at the note and bond market. Because what the note and bond market did do is that a pullback had some volume, but it was still much lighter volume than it was going into. And that's what it's doing out here today, too. You get 678,000 contracts trading, and you're going to see, I'll bring this to the other contract, was trading into. We did 1.9 million on Thursday. Yes. 1.7 on Friday. If we go into the U contract, which we will get a better idea of what we were actually trading into there, because we just rolled contracts, what you're going to see here is that you're trading into, I think you went back to the 30-year. I did, yeah. Let's go this way. Perfect. Looking at the 10-year now back-of-contract, essentially. Yes. And what you're going to see there is... It's a big volume. It's a big volume. While you get... It's lower than that 2.4. That's weird. Oh, no, hold on. I got the same thing. This is called... TYU. TYU, yes. Yeah, there we go. Right, yeah. 3.1 million. Yeah. And that low of that area, folks, is 1.2928. Gold. Let's take a look at the gold contract, because we've got a correction happening here, folks. Gold itself, flat. 15-15. We're going to take a look at some of these equities, however. What you're going to see is that you had the equities pulled back with some volume last week. And where we had broken out from goes all the way back to the September 5th. August 5th. August 5th, yes. So the GDX right now are 29... 28-29. This can get down to a 27-61 on a heartbeat. Okay. The XAU. And you've got to remember, we really haven't had a pullback since May. Yes, it's been quite a run, man. I mean, there it is on that chart, right? Where'd the run start? Oh, yeah, I can tell. May 30. There you go, exactly. So the XAU, 93-13. And this thing is, you know, 91-97's game. Yeah, and we just went from under 65. What is? Even this very day. 66-21. Yeah. Up to 102. 66-102. I mean, quite a run, man. Monster. Yeah, you're talking about almost a 60%, 50-60% pop. Yep. And King Dala. What do we have at King Dala? Now, this is going to be the wild one, but it has been a wild one for a long time, too. You're coming downtown today, not huge volume, 13,000 contracts. And what happens with King Dala, folks, is that most of the contract volume for the day really is done by, like, 11 o'clock. 8.30 in the morning, King Dala gets active. And the volume seems to come at the beginning of the day. So this may or may not end up with volume out here today. The next leg down, though, well, the next lower range is 97.050. Okay. You get inside that. That would basically set up that finally King Dala is going to give it up for a certain amount of time. We got the Fed next week. Yes. Nothing happened on this week. Yeah, the 18th ECB, I believe, right? 18th ECB this week. Okay. Yeah. And how about Apple? I heard you're doing that Apple story. Not bad, man. You hire children in China, and your stock goes up almost a full percent as the market opens on Monday. Oh, my God. Yeah, and I'm sure there's other factors going in there. Oh, yeah. Pretty remarkable that story hitting on the Bloomberg as well. I was pulling it up on CNBC, but even just to pull up, we got the headlines just to see how forefront. Here's your most active stocks, right? There's your Apple, a Buck 80, and they always have one headline that kind of pops next to them, and they got the Apple Foxconn. There's the story. You know, broke Chinese labor laws for iPhone production, and I covered it briefly at the top. Yeah, but pretty interesting. So I guess let's do one of the main findings. Temporary staff known as dispatch workers made up about 50% of the workforce. It's supposed to be 10%. I mean, that's just... And that's in August. This is like right now. Yes. Yep. And that is a watch group based in New York, but... But it's a Chinese law. Exactly. Oh, yes. For sure. Yeah, for sure. How about AT&T? Yes, ma'am. I agree. I know. Look at this thing, huh? Yeah. So they're getting... You don't see, you know, the bells basically trading up a point and a half overnight. Look at that. And it was as high as $39.90 something. So it was $2 even higher. I mean, they put, I believe, a $60 price tag as an estimate as to where they're looking. And so it popped as... Elliott urged a shake-up. So let's see. Ma'Belle's sweeping transformation from Ma'Belle to multimedia titan has gone both too far and not far enough. Elliott management. Billionaire Paul Singer. New York's hedge funds are closing new. $3.2 billion position. Well, that's a good position. Yes. They have a huge market cap. But even though it's still a good position. No, still. You put a few billion in a company, man. You're probably going to pay attention what that company's doing or have some plans. He's claiming that, let's see, what plans to boast the share price more than 50% through asset sales and cost cutting. I think... Yeah, divesting assets, including satellite TV provider, Direct TV, Mexican wireless operations, pieces of the landline business. Others, urges AT&T, led by their CEO to exit businesses that don't fit. It's strategy to run a more efficient operation and stop making major acquisitions. I'm sure it's a little bit of a dicey day in the executive offices over at AT&T knowing you've got another investor coming. Especially Sanger. That's it, exactly. Sanger is the guy, folks. This guy takes one of the longest-term views in equities or anything he comes in. This is the guy that beat Argentina after 15 years. What does that mean, beat Argentina for...? What happened is that when Argentina defaulted, they thought they were going to just get in there with everything. And he just never stopped. 15 years later, he ended up making 10 times his money. Yeah, because he was paying very little on that debt, right? Is that how... And he ended up getting it paid off, which of course... He ended up getting it paid off and ended up working out. When I was looking at it, I was like, oh, my God, you know, you're talking about you really got to have tenacity, because 15 years... Sure. You know, he was in a losing position until he wasn't. Yeah, right. You know? Yeah, so... Definitely.<PHONE_NUMBER>. We have the Dow Industries right now at 89. Nasdaq is down one, S&P's up three and a half for coming my back. Hi, folks. Tom O'Brien here. If you'd like to get my daily newsletter and market insights, then now is a great time to sign up for a 30-day free trial. Every morning by 9.30, I send out my morning letter to subscribers with market commentary on a variety of markets, currencies, and commodities to keep investors up-to-date on the day's trading action. Included in Market Insights are specific buy and sell recommendations for stocks, ETFs, and even options, which stops and price targets included for every trade in my newsletter. 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For more information, just click the Think or Swim banner on the front page of TFNN.com. Folks, we have the Dow Industries up 86, Nasdaq up 1, S&P's up 3. Let's go. Freddie Mac and Fannie Mae. Okay. Let me back it up. You're at 3D. Where? We'll get there. Which one are you jumping to? I'm looking for it. See, they have a five. Oh, there it is. That's why I haven't seen it. They have five letters now. Right? I'm not sure. Yeah, they have five letters. Because what's going on here? Oh, there was a note. Did you get it? No, no. Because what's happening here is that... We'll have to check it out at the break. Let's see. These things are exploding topside. Oh, here we go. I'm a friend of Mark Swanson. I'm a double whammy of good news. Well, it's not a double whammy if it's a good news. Let's say, yeah. Where are we going? I was looking for a symbol. Can we read the story about everybody probably zoomed in on that last one. So, soaring S&H funds get good news on two fronts. So, you have Treasury Secretary Mnuchin saying he would soon reach a deal to allow the mortgage giants to retain earnings and a legal victory that gave shareholders renewed hope of getting their hands on some of the company's billions dollars of profit. So, Mnuchin speaking in a interview with Fox Business said the Treasury is in the process of negotiating with the Federal Finance Housing Agency, Fannie and Fernies Regulator. We expect a near-term agreement to retain their earnings. Now, so the government kind of owns them right now so maybe their earnings are kind of tied up and make sure that they're... What happens is that they've been making billions and billions and they can't even keep them. They go right into the Treasury. They only can have so much on their balance sheet. So, this is probably, going to allow them to build up their capital buffers, considered essential for the companies to eventually be released from the federal control for Fannie and Freddie to hold on to their earnings, the Treasury and this FHFA would have to halter, revamp a controversial policy implemented during the Obama administration that requires the companies to send virtually all their profits to the Treasury. Now, keep in mind, these companies were going to tank the entire U.S. economy was a deal not put in place with the government backstop. Head funds and other issues that owned Fannie and Freddie shares have long fought to end the sweep through litigation. Yeah? And I wonder what it is. I know, in terms of that signal, we'll check it out at the break. I'm sure we'll be able to find it because they say they are popping, but that's where I wonder how it works, though, because they're... Yeah. We'll check it out. Well, this would be the first part of them getting released. Yeah, essential, too. Exactly. And let's say that if we were funds, we've been buying their shares for a long time. And that is pure speculation because you get nothing when you buy their shares because the government owns, like, 91% of them or something. Sure. But they've been banking... and they've been... they have the government in court. Yes. It was a litigation. It was an illegal, you know, takeover during the Depression. Well, just... That's why I kind of made that point in the end. Oh, for sure. Oh, if they didn't... Folks, if the government doesn't step in and put a backstop, you know, every mortgage goes to every single pension fund that owns their stock that just reverberates for every mortgage. Forget it. And the mortgage market itself would have just stopped. Yes, housing markets crashed. Because they're selling all the paper. That's the bottom line. It's got to be a guarantee here.<PHONE_NUMBER>. Let's get into the XLE. So, first, let me look at this oil market. CLV. So, we know oil has been moving around quite a bit. And then we get a new foreign... not foreign minister, but in charge of... They put someone in charge of the in the Saudi royal family in charge of... CLV. Oil minister? CLV. Yeah, their whole deal. And then what they're doing simultaneously now, it has in the journal, folks. It's pretty wild this morning. They're continuing with a ramp goal, a ramp goal to IPO. And the journal was swanning, they said, that they went to the richest families in Saudi Arabia. CLV. Okay. And they want them to buy from 1 to 3%. CLV. Of a Ramco? CLV. Yeah, but they claim it. CLV. Of the IPO, or whatever it is. CLV. Of the IPO, but they're claiming that they're not forcing them. And this is... CLV. From those paying attention out there. CLV. According to the journal, folks, some of them went to these meetings at the Ritz where they locked people up. CLV. They had a picture of the Ritz. CLV. I wonder how many of those families, they, you know, got a nice little wink and a nod to say, do you remember when we locked up all those other rich people in Saudi Arabia? CLV. Including, what's it, Prince Ali, I mean, just not unknown people, very powerful international players. And they had no qualms. So I would imagine there's some heavy cash in Saudi Arabia. CLV. Yeah. You're special. You're special, man. CLV. Let alone, wouldn't you know, not even... CLV. You can give me, like, I don't know, how many billion to get a hundred billion? CLV. Exactly. CLV. Well, I think you should probably give us like 30 billion of that for the IPO. CLV. Right. I mean, they got enough money. CLV. We'll see how this baby shakes out there. And oil has come so far since that was first announced, man. Can we put it on like a long time? CLV. I guess we'll have to go CLV maybe. CLV. Because the first talk of that, I remember it was like 30 or 40 bucks, I think, oil. And it was like, geez, are they really going to, we'll have to pull up those dates, because it's interesting because I remember having that discussion yet. CLV. There was an acceleration there. CLV. Right. CLV. There's no way that they were going to try and pump out their IPO for their state-owned company as well. Was that, you know, 42? CLV. No. CLV. 45. CLV. No. CLV. 43. CLV. There's no doubt. CLV. $50 seems like around number 50 to 60. CLV. If you're going to make money hand over fist, and you're making money hand over fist, you stay private. CLV. Sure. CLV. You know. CLV. Because they want to diversify into other things, right? So that's the counter-argument. CLV. But you could still do that while retaining ownership. CLV. There's no doubt. CLV. You could take out loans against it or so, and that's going to be like 20 years from now. CLV. Right. CLV. If they saw superb growth over the next 20 years, they would not do the IPO right now. They'd still have the plan to diversify, because eventually, fossil fuels are going to get, you know, at least hit a weak demand and a surge in supply. You kind of have both could be happening.  I mean, imagine that, right? But it's, I mean, we saw what we were talking about the new Porsche on Friday that's coming down the line, right? Got a loan to Tesla. Yeah, that's his. CLV. The Excel left the financials. You got them up $0.37 today, $0.2781, and they're over the highs of Thursday. So that's a big deal, which is $0.2768. And $17 million is pretty good right now for that. Yeah. The Fed fund futures sure were. So it's looking like a quarter basis. I, I like the, we've been at $100 for it seems like ever across the board, right? But it's interesting seeing these two numbers come back and forth. And really what are the odds of 50 basis points? 4%. Yeah, come September 18th. Nine days. Wow. Stay right there folks. Tommy and I come right back. 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The Prospectus and Summary Prospectus contain this and other information about Direction Shares. To obtain a Prospectus or Summary Prospectus, please contact Direction Shares 866- 476- 7523. The Prospectus is L-L-C. Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV for the latest market information.  Brady 3 touchdowns 341 yards were a little biased but a great performance by the defending Super Bowl champions and of course the story of the weekend and Antonio Brown came by far used to play with the Steelers last year had his antics will call them even last year the Steelers trading him getting all the value they could which was only a few or a couple middle round picks I believe from the Raiders. Now the Raiders they didn't want to go to the Patriots anyway. It actually so comes out they did not want to be a discussion over whether how intentional his antics were to get released but he came out with a video Saturday night and you could call kind of a hype video on YouTube himself and in it though was a recording of his coach Groot and talking to him saying hey what the heck's going on man are you going to play football what is going on trying to get his head right you know being like what is going on and illegally recording a phone conversation in California carries a maximum one year jail sentence which could be a big problem for Tony Brown if John Gruden wants to stick it to the Wild Receiver I'm not sure if that is going to be how this plays out but just off the wall man my friends and I talking about it so I believe it could have been Friday night Saturday nonetheless he was available as unrestricted free agent Saturday I'm going to go after him if you're going to make the risk to put somebody that might be as toxic as this guy in your team but then the discussion comes maybe he was just toxic because he didn't want to play with the raiders who in fairness have a lot of rebuilding to go and I had said the Patriots have picked up a few guys like this right there they sure have Josh Gordon one of them had struggles with passing drug tests in the NFL and just getting his head right he scored the because it wasn't just for the raiders he also had these going on with Pittsburgh but you could argue he didn't want to be there last year as well and nonetheless he wants a ring man maybe and guess what the quickest way to a ring is no I don't believe so I'm sure the Patriots here are it's pretty bad that you haven't got a ring exactly exactly so pretty interesting we'll see how that plays out now he was not in uniform last night and we'll see how they get any volume behind this market out here today Friday folks low volume market as the market itself was trying to get over those Thursday highs how about that at Katie Pharmaceuticals man talking about our man Dave White in the dent rocketed Monday after a biotech company said it's psychosis treatment met its key goal in a talking about 66% overnight pop look at it and look at it back down it was all the way up to almost 44 45 bucks Wow these biotechs right you had a high in 2015 51 99 you had a low in 2018 of 12 77 it's a good number though yeah it's definitely a good number and that would be great psychosis treatment psychosis treatment but phase three look at that revenue man 61 million to 325 million it's a big number they're going to jump to 457 in 2020 and I wonder if any of those estimations have incorporated though if that drug is passing key tests and that might change things they're still saying they're going to be losing position that's billion dollar drugs. That's when the large drug companies want very quick. They're just kind of buying a revenue stream at that point. Exactly. There's not much studies left to be done, right? I mean, there might be, but it's kind of solidified. This is going to be the estimated sales. We've passed FDA. We are about to all indications. And the volatility of those trials has kind of at least mediated a bit. Inside the NDX100, inside the NDX, you have the winners out here. You've got Walgreens Boots. It's a big move for them. It's up 3.8%. Pace Car is up 3.2%. I forget what these ones do. What is this thing do? Developed Manufacture, Light, Medium, and Heavy Duty Trucks. Oh, interesting. Okay. They are a $24 billion company. My goodness. Can I just see where that revenue comes in? So US and Canada, $15 billion. They're taking it in Mammoth number. I mean, they're taking in $23.8 billion, and that's basically their market cap. A half billion a week. And trucks, parts, and other services, man. And trucks have got so big, man.  I think we're a little biased being in Florida. I think we have more pickup trucks than that. Midwest, but I'm going back to Boston, you know, and maybe not as many SUVs, though. Definitely falling in that category. Crossovers, some car companies not even pushing today anymore, right? Yeah. You get American, he lines up 78 cents and tap is up 2.8 on the lower side. You got Regeneron down three, Idex Pharmaceutical down three, Imogen, Lululemon, Lululemon. What's going on, Lululemon? What's happening with Lululemon? Repairing some of those gains from those $128 joggers. I didn't buy any this weekend. They must have got the memo. I forgot to buy my $128 athleisure joggers. So we had it hit 204.43 on Friday and has volume behind the move. And look at the open today. I mean, it opened right there too. So this wasn't like a weekend recalibration, man. It opened at 9.30 and somebody said, you know what? All those Friday gains, a little bit more, a little bit more than we should have given it. Yeah. And this is light volume on the way back, folks. Yeah.  Facebook, let's take a look at a couple of these fang stocks. You get Facebook. Not much happening there. Up 90 cents. Amazon, same thing. Up to six bucks. So Mark, well, Amazon's 200 bucks off its high when the markets have kind of definitely clawed back more than that. Yes. And what happens now we just put it on that chart and it looks like it's basically right at the highest. And well, and we're going to be talking before we know it, you know, about Christmas shopping. Oh, definitely. I mean, this is it, you know, these, if we were in these companies, they're gearing everything up right now. Where was I? I was in Sam's Club and they already have Christmas trees and wreaths and decorations. They did? Yeah. Yesterday I was in Sam's Club and they're there. So it's Christmas. We're here September 9th. We're past Labor Day. That's now Christmas season. That makes sense.  They're ready and kind of out front already, too. Netflix up seven bucks down from 384 three months ago, 297. That's going to need some juice. Yeah. The I stopped watching that. I text Tommy last night with anything good things on Netflix. I stopped watching that mindhunter. Mindhunter. I love it. If you're into some drama folks, check out a good series on Netflix. And it goes into profiling, right? The serial killers kind of based off. It's pretty remarkable. FBI had no type of profiles at all, right? 70s and you started to get so interesting drama kind of based on true story. Mindhunter. Yeah, check it out on Netflix. Dow 94 and that is like a nine. So piece of four come right back. I'm certain you are or strive to be one of the best of the best at everything you do in life. It's the most common trait that we tigers and tigers share. 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Get your two week free trial to Basil's newsletter the opening call today by visiting TFNN.com. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Welcome back folks. Dow. Dow is up 95. Nasdaq's up 13. S&Ps are up five and everyone folks is going to Chipotle to eat. I guess so man. I like Chipotle. I haven't been there in a while, but I'm a fan of Mexican and all time highs man 852.19 right now was as high as 857.90. So they got an upgrade this morning. I think I have the story up here still. Where are we? Maybe the other story. Anyway, getting an upgrade and there we are by Wedbush. So they're looking for 980 over the next 12 months. They were at 780 and quite a pop 980 still get 130 bucks to go but quite around man 247. We're sitting at in February of last year. So whatever they had, you know, well, we know what they had. They, you know, had salmonella and food. They got rid of it. Was it equal or salmonella? Yeah. And it's remarkable that that's all the way back in 2015, four years ago, that story began. Okay, and it took almost two years to bottom of tears to blow off the top again. You got that little kind of fake pop because I'm from October of 2015. Check that out though. We go from 352 up to 500 and then we get cut in half down to 247 before it makes another run. It's quite a run. I want to bring those numbers up CMG. And that was always the question, right in terms of like, are they gonna be able to get back on track at least the trust factor? Yeah. And guess what? Yeah, I'd say so with those numbers, man. And look at how there's 2015. We saw when it started making 15 bucks. They lost it all in 2016. Wow. Look at that. To even losing money for a quarter as it was really reverberating. So we saw. See, they're spread. What they bring to the bottom line is amazing, folks. As the gross, it really hasn't. Well, you know, the gross has gone up. Yeah. And you saw it even go down from 4.5 to 3.9.  They're back. Yes. And it's football season. So they'll sell even more. Why not? All those TVs. Pizza and Mexican. Yeah. Fan of bulls. Stay right there, folks. Yeah. No doubt. We got that TD Ameritrade coming up next. That thousands happening. Steve Rose Day. Why to be back? Thanks, pal. Thanks, man. Yeah, I'll go get him, folks.


The president of the Chartered Institute of Taxation of Nigeria CITN Adeshinu Adedayo says the federal government's plan to raise about 9 trillion Naira from value-added tax in three years is more than feasible. Adedayo said this over the weekend on the sidelines of the Institute's 2022 annual dinner. Justice Akadone tells us more. As with tradition, the Chartered Institute of Taxation of Nigeria CITN takes time to unwind as part of activities to wrap up the year. Although it is an informal gathering, the Institute expresses commitments to push government in the right direction with its tax policies. Reacting to the federal government's plan to ramp up tax collection, some members of council speak on the achievability. If we have 211 million estimated as the people who are supposed to be the projected population of the country, then the next question is who are those among them that are going to pay this? Now the indirect tax, which is where VAT belongs to, is a tax you will pay without knowing it. And the truth is when these policies are aligned with the objective of the government, I can tell you that when it comes to issue of VAT, we are not yet at the optimum level and it is something that we should start looking at the gap between what we are able to do and what we want to actually achieve. We need to do a lot of things about our ICT and the banks also need to cooperate with the government. Once you can track income, it is income and whenever it is income, it is taxable. So track all the income coming into the country. During that alone a lot will come in. Then all the people in the tax net and expand the tax net, don't increase the tax rate. And from VAT in particular is a matter of increasing the tax base and how do we increase the tax base? We need to fully automate our tax collection system. We need to have the database of the eligible tax payers. Then the transactions being made, once they go through this database, they will surely increase the revenue. The host governor who was represented by the commissioner for finance, Rabu Olowo, assures that government will continue to make infrastructural development a priority, but however registers residents to play their part. Taxation remains the primary and major source of revenue for government, especially the legal state government, to implement all of its programs. The challenges that we face today as government within the context of global economic downturn is how to generate enough revenue to meet our increasing needs of our citizens without increasing their tax burden. This calls for greater ingenuity on the part of government, especially tax practitioners and professionals. Color issues in the nation's tax base take center stage, including the proposed 20 percent tax on non-accoholic beverages. In other clients, you target the harmful products as well as luxury goods. But in Nigeria, why should we target the beverages? I think that all the products that will enhance the health of the populace, we should even make them tax-free. What the institute does is to advise government on what they have felt as the cause of taxpayers, right, things that they need to change in terms of policies, right, as it affects taxpayers and as it affects administrators. The CITN believes that the federal government can do more with taxation by bringing more people into the tax net as opposed to increasing the burden of taxation on the citizenry.