The following is a presentation of TFNN The morning market kickoff With your host Tommy O'Brien Ready good morning everybody. I'm Tommy O'Brien with Tommy O'Brien coming here Good morning everybody Say happy Monday Happy Monday. What do we got Tommy? We got stocks. Where are they this morning? What color are they in the red? They're in the red That looks like target red doesn't it did you show them all your shirt? What's your shirt say? What's it say? Welcome to the jungle folks. That's right.  We're ready. Okay So we got Tommy he's in the chair again. He's ready. He's got his computer this man loves to work He'll love to work. Don't you you love working in daddy's office? He's doing his numbers folks. He's doing his letters. Let's jump into the market action this morning went to bed last night Futures in positive territory by about 20 25 points. Yeah about 10 30 11 o'clock last night going to bed saying hey Maybe we're getting a little bit of a reversal here off of the recent lows. We're pushing 43 50 gentle, please Not quite the case this morning as markets roll over to negative territory We have given up folks 45 s and p points from where we were trading out last night at 3 30 in the morning at 43 54 We're inching towards 4,300 right now. That's a 10 minute chart. We back this up on a daily Okay, and there's your action now. What's ironic is I was looking at this last night. I was saying is this the acceleration You know is this is this is this the acceleration Tommy?  That's right. I got mine. You got yours, huh? We got two computers here. We're doing it And what I found myself saying last night as this bar had yet to take shape was We got two TVs, isn't it great Tommy? We got work TVs they're called monitors for the computer Monitors yes, and do you have McQueen and Mater too? Oh There he is Lightning McQueen a Disney property folks What I found myself saying is man, we just traded from 4563 and that's not even cherry picking the highs back here 4,600 change. Okay, we back out here We just traded from almost 4575 what's our high there 4566 down to a low of 4277 so you're talking about almost 300 points And we got a few days of reprieve and things are starting to accelerate yet again to the downside as we are off 15 points in the S&P's and that is after giving up some of the gains that we had overnight So be careful in this we've been talking about on this program folks when you take a look a little bit longer-term picture Okay, whether you're backing things up to An absolutely remarkable How about the fact that you got to go back a year to that spike low of 3,500 does that seem like 12 months ago? Time is amazing does not seem like 12 months ago, and I appreciate you bear with me folks We had a little bit of COVID in the house late last week early this week still potentially so throwing a wrench into things a little bit Everyone's doing great, but a little bit of isolation Just to be careful, and that's the reason why Tommy's been joining me for a little while So he's having a blast. We're gonna get him on the program More often no matter what is going on because he's a happy camper and We're gonna we're gonna think of maybe doing some specific segments That is what we'll talk about in terms of bringing Tommy on talking about toys talking about kids talking about YouTube talking about lightning McQueen When's the next Disney movie coming out for cars? When is cars for when cars for coming out Tommy? We've been watching cars three with Jackson Storm. That's a good one cruiser Amiris if you know you know But seems like they need another movie they did come out with a series But nonetheless we jump around I've been talking about on this program Okay, you take the two different trends here on a Fibonacci basis you look at the one-way trip gentle gentle on the computer Please we are now sitting right at the 382 of the pullback from the one-way trip of March 13th So that's an interesting important area that we're sitting at that's also correlates to the gap We got in June in the markets. Okay, we have it drawn on this one. No, I don't okay I Make sure hold on gentle, please gotta make sure I have a computer after this program. Oh There we go couldn't figure out what was going on and the laptop was on my desktop appreciate you bear with me folks Yeah, so here's the one trend that we're sitting at the 382 right now that's 618 lines up to about 41 40 You take the spike low of 3500 you throw that to the same trend to the higher level and you're talking about the 382 brings You about 4200 when we started talking about this We were 200 points away when now only 110 points away from that price level not out of whack man And that isn't a perfect area technically on this chart where it was an area of resistance It has turned into potentially an area of support if you make it back down there But nonetheless It seems like there's a lot of pressure to the downside we kick off October trading You back things up on a monthly basis And we got a little bit of a reversal to kick things off, but where are we gonna go next? Let's take a little bit of a picture Yes, Tommy. Hi, buddy Crewed 95 bucks at the price yesterday. I know what you see this. This is the price of crude Tommy for gasoline Yeah, we're sitting in 9104 up 25 cents. We jump over to gold 1853 gold struggling recently We jump over to the dollar index as you'd expect Dollar strength yet again pushing 106 50. That's almost the highs of last week and we jump to the conversation of The time yields going higher yet again Seems like we got a little bit of a reprieve for a few days last week and just like that We're pushing 4.64% on the 10 year right now And we're only one Thursday spike away from recent cycle lows. We're at 107 20 You're off 14 ticks on the 10 year right now. The 30 year is off 21 ticks even the two year Trade lower these are mammoth moves on the two year on a short-term basis, man Jumping over to that yield curve for a moment We have the two year right now at 5.1% up six basis points man six points That's a huge move on the two year on a 24-hour basis As you've just seen the constant shift to higher yield on a short-term and longer-term basis All right, we got a treat today folks. So if you were listening to my dad's program on Friday He talked with our man Peter Bruno Peter is gonna be beginning a new program today 2 p.m. Eastern time Okay, live to 2 till 3 p.m. Eastern time Peter's been around the business for some time he Has 55 years experience. Okay, he Did a radio program on the same program? Excuse me on the same station that was my my dad was on out here in Certain markets that they were in Nonetheless were privileged to have them. I'm excited for it the Wall Street money hour kicks off 2 to 3 p.m. Eastern time today that'll be live every market day I'm looking forward to that first program did it turn off there it goes It's back on so that's gonna be a 2 o'clock today folks check that out give Peter your attention and See if what he's talking about is up your alley because he talks about cycles He's got to do some great methodologies that he goes through And yeah, it's uh, it's it's exciting We'll have some live programming in that 2 o'clock hour leading into my dad's program at 3 But we got a whole day to go ahead of that man. We got markets in negative territory We got 15 minutes to go until the opening bell We're gonna be talking some Tesla when we come back as they're talking about deliveries in the third quarter Beating expectations will be right back If you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter You should try Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and Technicles sign up for rocket equities and options report today with a 30-day money-back guarantee So you have nothing to risk for all the details and to start your subscription today visit the front page of TFNN comm TFNN educating investors Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything From the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns You can take advantage of sign up for the Fibonacci 24-7 newsletter at TFNN comm when you subscribe You'll get a weekly report from veteran day trader Larry Pezzavento on stocks You need to pay attention to and you can trust Larry's analysis after all He's got 45 years experience as a day trader Larry will also provide daily charts videos and data on the key markets that he's tracking Expect notifications from Larry on market movement You need to act on at any time first-time subscribers also get a 30-day money-back guarantee if you're not satisfied Let us know and you'll get a full refund within 30 days of signing up Subscribe to the Fibonacci 24-7 newsletter today TFNN comm educating investors Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master Steve won the prestigious timer of the year award in 2018 and barely missed that mark again in 2019 Finishing it number two for the year, an amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn And he shares his vast amount of trading knowledge every day in his mastering probability newsletter Steve's award-winning newsletter Mastering probability is delivered every trading day with updates throughout the afternoon Sign up for Steve's market newsletter Mastering probability and you'll receive access to seven of Steve's educational webinars Absolutely free at TFNN all our newsletters come with a 30-day money-back guarantee So you have absolutely nothing to worry about Visit TFNN.com and try mastering probability 30 days risk-free today TFNN Educating Investors TFNN has launched the Tiger's Den Hosted at Discord TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours The Tiger's Den Available to all Tigers and Tigresses for just $1 for the year There's no catch or added costs when you join our community of traders Sign up today to become a part of this educational community of traders Just visit the front page of TFNN.com Welcome back folks Tom O'Brien, Tommy O'Brien joining me today We got markets kicking things off in red territory S&Ps off by 10, NASDAQ 100 barely off by 12 Right now you got the Russell off by 5 You have your back Tommy That's right and we're going to jump to Tesla Tommy, Tesla Tesla shares dropping about $7 in the pre-market Even though they beat on deliveries is the headline out there 435,000 deliveries versus 430 Basically was what the market was looking for there During the previous quarter, Tesla reported total deliveries of 466 And production of 479 During the same period they beat that number in a big way But not quite what the market was looking for I guess Wall Street was expecting Tesla to reach 461 Deliveries for the period, they come into 466 But they're trading that stock down $7 As volatility persists on Tesla shares Back to almost the lows of last week which is 234 I talked about an article last week Tesla, the most shorted stock by market value In the market and the most volatile in dramatic fashion In terms of how many shares are traded as well You trying to get your paint buddy? Where's your paint? What you doing? Yeah Oh, what's that? Okay, what else do we have going on? Let's talk some rates again Can't get away from the men, okay? First, you have higher rates starting to hit the US profits That's Goldman Strad just warning Okay, this article out this morning as of 7.33 in the morning So, not exactly record breaking news No, you guys sit there for the show, okay? But guess what? We got a drink And what do we got, folks? You know what? We got a treat We got a treat, Tommy Of course we got a few treats to make it through the hour, huh? We already have breakfast What do you have for breakfast? You want to tell them? What do you have? Do you have a waffle? What do you have?  Were you watching dinosaurs? Oh, oh, oh, what's that? And I do appreciate you hanging with me, folks As we jump around, like I said You know, you make, you make doing in... Oh, what's that? Are they going? There they are, they're moving They're brontosaurus No, that's not brontosaurus So check out some of these yield numbers That's not brontosaurus That's not a brontosaurus He tells me, he knows, he's right It's amazing how many things you'll say When you're around a child That you think are correct And you're just generalizing I said brontosaurus That's not a brontosaurus He's right, that's not a brontosaurus What was it? Was it a raptor? No No, what was it? Dad Oh, that's a brontosaurus There it is Oh, that's a brachiosaurus Brachiosaurus That's what I'm talking about, right? No, that's not a brontosaurus That's brontosaurus Is it? No What? That's brachiosaurus What are you doing, mister? That's brachiosaurus Brachiosaurus So check out the borrowing costs Tell me, we're going to talk some brach... Ooh, look at those Borrowing costs for the S&P 500 companies We'll see if we can make it through Dad, dad, dad, dad, dad, dad One segment I think is going to be perfect Dad, dad, dad, dad, dad, dad, dad We'll be right back No, we're not going away just yet Don't you have a fun time on the show, Tommy? Do you have a... Yeah, do you have a fun time on the show? He wanted to be in here all weekend Practically, folks, in my office I had to drag him out of here Because he wants to work He loves it So for decades, falling interest costs And greater leverage have accounted For nearly one-fifth of an overall Overall 8.8 percentage point Increase in the return on equity Dad, dad, dad, dad, dad, dad, dad, dad, dad, dad, dad Tommy, we got to do a little bit of work In our show Hey, I'll tell you what No, that's why I put you in here today Hey, do you want some Pringles? Oh, Pringles Yeah, should we have a little snack? Let's see if we have Pringles Excuse my reach Do you want Pringles?  We always make sure we have breakfast first We eat a lot of fruit We eat a lot of yogurt Tommy loves the Manila yogurt We eat blueberries, strawberries Bananas are a big one as well Mac and cheese, peanut butter and jelly But occasionally you have a few snacks Everything in moderation in life, folks So to recap that one again Because this is a real number I want to go over For decades, falling interest costs And greater leverage have accounted For nearly one-fifth of 8.8 percentage points Increase in return on equity So the return on equity Has gone up almost nine percentage points And over that time That's been 20% of that Has been made up for leverage, okay? In the new higher for longer rates environment The key risk for S&P 500 return on equity Will be higher interest expense and lower leverage Shouldn't be too surprising A scenario in which interest expense Interest expense and leverage persistently Way on return on equity would be a departure From the historical trend Okay, now what you have up here is you have The S&P 500 forward return on equity In the black, and you have the price Of the S&P 500 in red Seems like we might need a recalibration To the lower end there if that's the case Okay? That's a big dinosaur, Tommy Look at that, what's that? Now what they do talk about here Is that, you know, strategists have started to look at Some of the stocks they've done pretty well, man Some of those stocks talking about the ones That are not as vulnerable You want your T-Rex? We'll go get him at the break, okay? He's out there, we gotta wait for the break We got about three minutes and we'll go get your T-Rex, okay? You're talking about companies like Cisco, Costco, Paychex We're hanging in there, folks, I appreciate it We have to wait for the break, we got about I know, but we gotta wait for the break We got a couple minutes, okay? Oh, look at those, what are those, Tommy? Should we show them some of your dinosaurs? Let's show them what you're looking at Wanna see what he likes looking at, folks? Now this is amazing This is a game, you see how What was it, Twitch, right? That's right, Tommy So what he loves watching is The Jurassic World video game Which I'm not even sure where it is But, so what he loves watching is And we're gonna have to get you on this video game, huh, buddy? Look at all these good dinosaurs We're gonna get through an ad real quick So here is kind of a brief glimpse of the type of videos Isn't it cool to hear? Isn't that cool, Tommy? We showing them? That's a cool one So this must be... I want that back You want that back? Which one? This is Jurassic World Evolution 2 I believe that's a game And look, they just go over all the different dinosaurs Can you pronounce that for me? Karcherodontosaurus? Karcherodontosaurus Karcherodontosaurus, Tommy Karcherodontosaurus That's right, Karcherodontosaurus That looks like a big one, huh? Oh, there's two of them The cool part is you learn about the dinosaurs They talk about the names They have them featured there A lot better than some of that crap programming The kids get lost in And they get lost in YouTube I want that back All right, folks, we're coming back for the market open We're coming right back? Tell them we're coming right back We'll be right back, folks Currencies, commodities, and bond markets Are as important as ever right now With how they're driving the volatility In equity markets across the globe Which is why it's a great time to try out Teddy Kegstad's Tiger Forex report Teddy Kegstad breaks down the Forex markets Every Monday using his 30-plus years of experience As a trading veteran of futures, Forex, stocks, and options Teddy releases his weekly Tiger Forex report Every Monday morning with coverage Of all the major currency pairs Including the Dollar Index, the Euro Dollar, Pound Dollar Dollar Swiss, Dollar Yen, as well as many more And he also has weekly coverage Of the crude oil market and the 30-year T-bonds As they both influence Forex markets tremendously When you sign up for the Tiger Forex report You also gain instant access To Teddy's 60-minute Webinar Archive He just hosted Forex Strategies and Fundamentals What is behind the Tiger Forex report For all the details and to start your 30-day Tiger Forex report subscription today Visit the front page of TFNN.com TFNN Educating Investors Currencies, commodities, and bond markets Are as important as ever right now With how they're driving the volatility In equity markets across the globe Which is why it's a great time to try out The Tiger Forex report Teddy Kegstad breaks down the Forex markets Every Monday using his 30-plus years of experience As a trading veteran of futures, Forex, stocks, and options Teddy releases his weekly Tiger Forex report Every Monday morning with coverage Of all the major currency pairs Including the Dollar Index, the Euro Dollar, Pound Dollar Dollar Swiss, Dollar Yen, as well as many more And he also has weekly coverage Of the crude oil market and the 30-year T-bonds As they both influence Forex markets tremendously When you sign up for the Tiger Forex report You also gain instant access to Teddy's 60-minute webinar archive He just hosted Forex Strategies and Fundamentals What is behind the Tiger Forex report? 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The dinosaurs?  These are all live Want to do that one? That King Kong? That King Kong The divergence between falling valuations And improving fundamentals represents An opportunity for investors, okay And there is the ratio that they're talking about there The median, that's the peg ratio Mega cap Tech versus the S&P 500 Okay And you're looking at it Where, I mean, what do you got to do? You got to go back to what, 2012, 2013 So, interesting, nonetheless Overall analysts expect Tech earnings to rise 4.3% The third quarter compared with a year earlier I mean, it's big numbers All right, what else do we jump into? How about commodities? Just seeing how the ripples Of everything going on Far reaching areas of the market The UAW strike hits demand for steel Lower demand for auto steel adds pressure To tumbling steel prices So the reverberations fell pretty much everywhere In this market And this one, we're going to see how it plays out The Hollywood writers, they seem like They potentially have a deal But when do we get that news Potentially on the auto workers? Not sure that's going to be the case anytime soon Interesting article out here From the journal over the weekend They should be spending less by now But that is not the case They kind of just have a bunch of anecdotal Now this is anecdotal They go over some of the specifics Americans spent 5.8% More in August than a year earlier Now that number is what? The personal consumption expenditure Is what they're going over there But they spent 5% more In August than they did a year earlier And inflation was at 4% So they're beating inflation Delta airlines, record revenue in the second quarter Ticketmasters selling over 295 million event tickets In the first 6 months of 2023 Up nearly 18% People are going to concerts, they're going on airplane trips Right? Now, what's interesting here Is that they go over and this is where it gets anecdotal Alright, they're cherry picking People and going over instances But they're interesting And the reason why these people are spending Are somewhat interesting and not very good They're going to a wrong hall They go over one gentleman Ibi Hussein Maybe I'm pronouncing that correctly He works in marketing for a financial communications firm Works in Brooklyn He pays $3,000 a month For a property That would probably cost a million dollars to buy At current rates he'd need $200,000 down payment And $5,000 a month after that And it's not even that nice in the apartment Instead of saving He's just going to spend it all right now As expected So, you go from an area where Unfortunately, you're so far out of the realm Of being able to afford a house That this gentleman is stopping Saving and just going to live up His life by buying $1,600 Taylor Swift errors tour tickets And then $3,500 on a bachelor Party trip to Ibiza I might as well enjoy Just enjoy what I have now, he says No fault in living like that, man Kudos to that gentleman One million percent Overall in the economy though I'm not sure that's indicative of a strong economy If that's why consumers are spending more now Because eventually that does catch up Right? I'll do this one Okay, there you go Which one? That one? Oh, you want that one? Those are Legos, Tommy Yeah, we haven't quite gotten into Legos yet You know, I'll tell you folks Tommy and I, we love crews and Target occasionally We go to the toys section We basically ditch it all before we leave there But it's kind of like the Toys R Us experience Of old, right? Target's got a pretty good toy section Nothing like Toys R Us It's unfortunate, you never got to experience Toys R Us, Tommy Maybe they'll come back in some form We walk around, we have some fun toys At Target, they got a good deal going on Target right now, haven't Accessed this deal yet But if you are looking for toys For If you're looking for toys even early in the holiday season So I think what's going on is Target is always trying to Compete now with Amazon Prime, etc, right?  You got your drink? Oh, tip it this way There you go It's a pretty good deal, $100 And that just started in October, so you spend $100 You get $25 off Not a bad deal, you got kids, you got grandkids You're locking in some Potentially Christmas shopping, because it's starting, man Right, we're coming into fall Thanksgiving is next month Christmas is the month after that What's that? That's your bath bubbles, huh? Put a toothbrush Your toothbrush, so I pulled up Amazon of course And now he's got everything on Amazon That we usually purchase in terms of our order history Alright, we got the markets in positive territory We catch a little bit of a lift We're gonna be coming back We still got a lot to talk about, folks We're gonna do a little bit of a speed round as we jump through Some of the action, we're gonna talk about Riviant How about Riviant? They're losing $33,000 A car, $30 grand A car for every car they produce You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball After all, it's impossible to predict the future, right? 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ETFs An investor should carefully consider a fund's investment objective Risks, charges, and expenses Before investing A fund's prospectus and summary prospectus contain this And other information about direction shares To obtain a fund's prospectus and summary prospectus Call<PHONE_NUMBER> Or visit DirectionInvestments.com A fund's prospectus and summary prospectus should be read carefully Before investing An investment in the funds is subject to risk Including the possible loss of principal The funds are designed to be utilized only by sophisticated investors Such as traders and active investors Distributor, four-side fund services, LLC Live programming hosted by a variety of professional traders During market hours And now they are expanding their reach with the Tiger's Den Available to all tigers and tigers For just $1 for the year There's no catch or added costs When you join our community of traders In the Tiger's Den You can look over the shoulders of Tom O'Brien And the other TFNN hosts While they analyze charts During their live Tiger TV programs And join an interactive trading community With hundreds of members exchanging ideas Interact with other tigers and tigers As they share trading ideas News analysis and discuss the market action All trading day Even at night and on the weekends The Tiger's Den at Discord is accessible On mobile or tablets as well So it's always at your reach To sign up today and become a part of this educational community Of traders Just visit the front page of TFNN.com This program is brought to you by Vista Gold Traded on the NYSE American And TSX Under The Symbol VGZ Welcome back folks Some great discussions going on in the Den Listen I can't fault you know you're young Then you got you know no family No kids once you have a Children folks and you got depended Hold my drink cheers you want cheers Cheers cheers everybody Cheers them there you go But again too you know the ski bomb traveling I mean this guy is working in marketing In New York so it might not be exactly That he's just blown out He's going to 16 You see that drink he's going to 1600 He's going to $3,500 Ibiza trips not exactly Like being a bum Ski bum But you see that Should we get that that's a nice That's a nice cup Tommy you like that Let's show them let's show them what we're looking at folks We're gonna do a little bit of product review Tommy If you're looking for a cup For a two year old out there That's something we could take some water With us on the road right maybe to the beach We'll see but he's liking the he's liking The trucks cup that's what popped up there on Amazon So that's what we're checking out Camelback one of the great brands out there For Sora so sure it's well made Jumping back to some of the other examples In this article Isn't that nice You can do your paint right here okay There's your paint Here it is ready There's your paints Which one are you gonna do Now check out some Of the other examples in here which is why I'm like Come on man really these are the anecdotes of people Spending more there's more than this going on out there But if this is the real deal and I don't I don't know it's just Interesting that you cherry pick a few people And these are the people you choose So we had our gentleman Ibi Hussein who's out there blowing $1,600 on Taylor Swift tickets and spending $35 on $500 on Bachelor party trip and I don't blame him For not wanting to save $200 down and $5,000 A month to live in an apartment that he thinks It's not nice come to Florida Ibi Come to Florida man right This is what's going on okay I got friends in New York I'm from Boston It blew my mind folks almost 20 years ago When I moved down From Boston area to Florida And found an apartment in Largo Florida What three miles from Clearwater beach is that good Tommy Chugga baby And I was Paying just about $500 a month for that Apartment does not I had a pool in the Complex right these are things that matter Now what they also talk about is the travel boom Well here's the next example A couple Who's the wife Just quit Her job to help care For her 8 year old son We see it Tommy hey no yelling please Okay So she quits her job to help care for The 8 year old has special needs man That is a tough situation so You got to make some tough choices Yeah you see the top On the beach too But then it goes on to say that we didn't have the money And we were like let's just do it anyway So they booked a $10,000 vacation including $3,000 $1,000 last minute Tickets 10 nights At a 4 star $400 hotel And they cancelled some subscriptions And cut back on I finished my drink Tommy Thank you So they're somehow Sending $10,000 on a vacation last minute Oh hey we got it we got it Everyone's watching us you want to see Let's see us come here no no no I got to use the mouse I got to use the mouse That's your mouse Tommy Yeah we're going to find us okay Where are we No I have to control That's your mouse Yeah Oh buddy Oh what do you got? Your Spider-Man Oh And then they go down the line to one more example That you have Spider-Man Yeah this one's not Spider-Man Tommy You got off a let's go over here That's it that's it You know what Google does very well folks That's frustrating to kids is They have promoted videos Right that look like a video That's the best thumbnails in the game Of course they do because they're paying for that Promotion Oh look it's a fire truck Look it's a fire truck Spider-Man Let's see if we can find him Okay we're going to jump around let's go to Rivian You get the point people are over spending That last one in there was just that They're booking basically vacations That they can't afford even after that one Okay you have Yeah a couple that decided They're home travel the country with two young children Nonetheless The point's been made so we jumped to Rivian This one is interesting man so this one Out this morning as well from the journal Rivian's quest to build the ultimate truck Burns through billions now This is a lesson In patients Okay here's Rivian down to 20 bucks earlier You take a look at a longer term chart You go public And push this thing up to 179 I remember joking at the time saying Imagine going on the program Shark Tank And saying I'm pre-revenue I'm pre-revenue But I'm looking for an 80 billion dollar valuation Okay that's what this company was doing They went to the public and they said We're pre-revenue they said we got to deal With Amazon though And we're pushing it's still a 22.7 billion dollar company Okay and it was trading at what Yeah it had to be if it was at 180 I mean even taking 120 Okay because it got above that for a month But if you put this thing on a daily No it's got to go back further wow So it was up above 120 For only four or five days Okay but even 120 Puts this thing at almost 100 Billion dollar valuation let alone whoever Was buying this thing at 179 pre-revenue Pushing what 150, 160 billion dollar valuation Yeah be careful When you're buying into a company with that valuation That has not even taken in revenue We're not talking about profits we're talking about Revenue okay Now what they talk about here is man these cars Look awesome zero to 60 In three seconds $80,000 Is the average Yet they're so expensive To build Yeah we're gonna try and find Spider-Man You're doing so good I know You're hanging in there We're finding them look ready Here he goes Which one Which one do you want Yeah we want the real Spider-Man The real one We want the bicycle What about that one That's most of the source What about that Spider-Man What about that one Is that a shark That's a shark So they're losing $33,000 on every vehicle They're sold selling them at $80,000 It's roughly the starting price Of a base model of the Ford F-150 How much money they're losing per vehicle I want my most of source Investors piled in You want your most of source I know you're hanging out buddy I want my most of source Well we gotta get them at the break We got all our dinosaurs in the living room Oh Tommy here it comes It's gonna eat the shark They're gonna eat it Is it gonna eat it So in two years Rivian has blown through Half of its $18 billion in cash Hey look Okay look Wait he took off the hook Oh he took it off the hook I know So at the end of June Rivian had only built a total of around 50,000 vehicles A fraction of what other companies are building of course And it aims to produce 52,000 vehicles this year There's your share price that we just covered The IPO was $78 And be careful of that equity We're gonna start the volume You want to start the volume Folks we got one more segment Thanks so much for being patient Come on back and don't forget about the Wall Street Money Hour Two o'clock live today with our man Peter Bruno The inaugural program Check it out at two o'clock We'll be back to finish up the program folks Stay tuned The Gold Report As a precious metal gold is still king It continues to hold the most 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Up 1% That'll put a lift in the market Microsoft, up half a percent this morning We jumped to Tesla on their deliveries Clowned back a lot of the losses Still off almost 2% though NVIDIA, the AI poster boy I did Tell them Elasmosaurus That's the Elasmosaurus This is the T-Rex folks Jurassic World I was saying to my dad last week And during the program, pretty remarkable You have Jurassic World That they corner the market on Dinosaur toys They get a cut of everything Jurassic World Meanwhile, we're just buying T-Rexes But somehow they're Jurassic World T-Rexes We'll get the T-Rex after the show I appreciate the patience of tuning in It's an interesting one Like I said, we got a little bit of COVID in the household So babysitters not as easy Daycare, of course, not happening When you got COVID everywhere, no matter what Yeah You want your drink? Okay So it's been an interesting few days And we're going to create a time slot for Tommy On the program, but I appreciate you hanging in with me for the hour Because there's only so much we could do But guess what? This afternoon As I mentioned In a brand new program, our man Peter Bruto Two o'clock p.m. eastern time So right before my dad's program Check it out I'm really looking forward to this I think we're very fortunate to have Peter in that time slot Filling that time slot from two to three The Wall Street Money Hour And Peter has 55 years experience, folks He founded the Institute of Wall Street Studies in 1978 Offering public seminars To empower investors with knowledge He deals with cycle analysis He deals with artificial intelligence Allowing the power Of those cycle analysis to go forward He has the Wall Street Money Letter Which is going to be available on TFNN as well That's a weekly publication But check it out today, folks Two o'clock till three o'clock eastern time He'll be there live and you can call in Ask him questions Looking forward to another voice Added to the TFNN lineup Live programming all day today, folks We got it back In positive territory Say bye everybody We're done Bye everybody


Okay, so this is about a six-point extension of the guarded fragment and It is inspired by the muciculus. So the muciculus is a very very pleasant logic for well logicians, it's like an assembly language if you want to work with transition systems or with directed graphs and you can translate all specification languages into it and unlike some of the specification languages it has reasonable model theoretic properties. So what the muciculus does is set out with a very simple logic, so basic model logic that that means our positional logic plus the ability to quantify over successors of a current state. So it's a very very restricted quantification pattern. And then add fixed-point constructs, which are useful if we want to write formula the way we would write programs. So what we can do is we have a notation for loops of this kind it starts with the empty set and then apply an operator until nothing happens anymore and then stop and return the value. And okay, the alternative is to start with the whole universe and apply the operator until nothing more happens. So we have a very weak local logic that talks about about what happens to the current state and about the immediate successors and then we have this simple recursion mechanism that lets us move local assertions along passes, essentially. And that explains why it is, it can be interesting for verification because in verification we are very interested in executions and this is what the muciculus can do well. It can run along executions and describe how local properties evolve and it has also the branching ability that the muciculus has. Sorry, the model logic has. And there's something about this branching ability to which we will come. So first if we look the muciculus abstractly, it is a very friendly logic as it has a three-model property. So we have whenever a formula is satisfiable, we can find it satisfied in a tree and also it has finite model property. And then you can re-proof preservation theorems. That show that things that, I mean, syntax and semantics are in a healthy relation and interpolation and so on. And also it is algorithmically friendly. We are quite close to P for the evaluation of muciculus formula. So actually we are in a class in which the parity primes were before NP and called NP and this gives us hopes that one day it will be shown to be in P. At the moment it is not known yet. And satisfiability is next time. Okay, and then, well, it is somehow maximal in what we could expect to have as a friendly logic. And this maximality has to do with B-simulation invariance. So B-simulation is logical equivalence for model logic and it means behavioral equivalence for systems. We will talk about different B-simulation relations later on. But, I mean, as long as we don't want to distinguish B-similar models, model logic is as strong as first-order. This was a very interesting characterization by Van Bentum and Andre Karnametti. And and muciculus is the B-simulation fragment, I mean, of monadic second-order logic. So it is like the lifting of model logic to a second-order. And well, the key to most of the proofs that are relevant here have been relevant for the muciculus, are that we have this B-simulation relation that allows us to manipulate models. So instead of working with arbitrary, complicated models, we can also, we can always massage things into trees.  Automata very nicely behave. And well, the ambition is to have a logic that is equally friendly, but does not, is not restricted to to talk about executions. I mean, not about transitions in graphs and only forward moving things, but well, it should be able to speak about databases and it should be so it should be able to talk about hierarchies and not have a notion of direction and we can see how far we get. So the idea for the model, for the guarded fragment is that to take the model fragment and replace these guards which tell, look at successors with more general guards that say, okay, look at new variables that are linked to those in which we are free. I mean, to our currently free variables. In, in a simpler way. Okay. This is the, just the point. So we will look at a very basic, the basic guarded fragment, where this relativization guards are atomic formula. So we have the relations from the vocabulary and we have equality and nothing else. And then to, to make some efforts, I mean, to explain why we do some efforts, we will talk about a bit more, I mean, a more general fragment. And there. So the guards. So this formula that tell us how the newly quantified variables relate to the old ones. They talk about a generalization of being an atom. And being an atom, I mean, if we forget about erities. And so if we just, just look at the underlying structure of a, of a relational structure. So I mean, the Gaffman graph of a relational structure, what does it do to a tuple that is, that is in a relation? It makes a click out of it. And here we say we can, because I mean, a relation relates every two elements in its entry. Now, we, we allow quantification over any members of a click. And one consequence is, of this is that as long as we are in the basic guarded fragment, so every time we quantify our new variables, they have to, to be connected through a relation. So we can never talk about more variables than our signature, our vocabulary is large. I mean, if our maximal erities three, we can never talk about four variables that are alive at the same time. Okay, we can use equality, but it doesn't really help. So this is a, I mean, we can get rid of this, of this restriction by looking at this Gaffman sense of gardening. And there we can have formula that are, I mean, that have sub formula with arbitrarily many free variables. So that's, that's one of the reasons. We don't want, I mean, complexity results that are good because the weeds are bounded by definition. Yes, I mean, we can write it. We know how the relations are called. So we can say that every two members in this, in this, uh, couple, they are related in some way. So we will, we will quantify what the remaining members and we'll say, okay, these are, I mean, they are part of relation. So you see, for example, if we have ternary relations, so, well, I told them, so say I, I relate to these three things with an R and these three things, and these three things. Now, I mean, a priori, these three, they would not be, I mean, all the four, they, they are not guarded in the strict sense, but they are guarded in the, in the Giffman sense. So I, I can write a little formula that expresses that, um, that I, I'm talking about four elements which are in this configuration. I mean, the syntactical is this. It is a formula that guesses whatever is needed to complete the topless and semantical it is. In the moment, I have a valuation and I try to, a little sub formula, I have to make sure that, uh, the variables are allocated to something that's form-circuit. So now we go to a logic that is stronger than the metaculous and we can then, uh, first order logic plus fixed point. So we extend this guarded fragment with, with, uh, least fixed point construct. And then we have the dual greatest fixed point construct. So the least fixed point you have seen already today and, uh, an ocean jump and the greatest fixed point, uh, well, it's just, uh, the dual, uh, notion. And, uh, well, I mean, what we are sure immediately that we can do is we can talk about the mucaiculus by referring to backwards modalities. So instead of saying, I have a successor with certain properties, I can say, I have a predecessor, I can talk about, uh, edges that form a loop or, but then on the other hand, I can also speak about database, I mean, about, uh, about higher, topless of hierarchy. Okay. And, well, I will try to put together some tools so that, uh, it, I mean, we have everything that we used to have for mucaiculus kind of, uh, logics to do satisfiability and then show you that actually these tools are not enough. And then maybe you, I mean, then, then we have a better insight on, on, uh, why this, this logic is a bit more than just the mucaiculus. Okay. That's my intention. So, I mean, up here, we want to look at, uh, questions of, I mean, okay, we have a formula, we have a structure. We want to know whether the formula is true on the structure. And then, uh, we have two structures. We want to know whether there exists any formula that can distinguish them. And then we have only a formula. We have no structure. We want to know whether there exists a model or even less. So we have a formula and we want to know whether there exists a finite model. So let's see how we approach these things with, I mean, knowing less and less about the structure. So if we know all about the structure, then it's about, uh, model checking. And here, oh, sorry. So this is the problem. Yes, we, we want to know, we just want to evaluate, um, got a fixed point formula. This is not, I mean, there is nothing very deep to this point. Okay. So no, I would take, uh, relations from the initial vocabulary as cards. Okay. So, um, so there will be some games that come in over and over again. And John already made fun of me in saying that I'm, I will probably talk about games. So, but I will not. It's about automata. So the underlying tool for, for doing, um, model checking and also, I mean, to, to build up the automata later on are, are parity games. And, um, so if we forget about the logics, these are quite simple games. We have two players and they form an infinite path. So they are, parity games are described by a graph. Is there anybody who has not seen, I mean, um, do I need to explain parity games? Okay. Yes. Okay. So this is the description. We have a directed graph and then some of the notes are marked as belonging to one of the players. And then we have, uh, a labeling with, of, of notes with numbers. And, uh, for this labeling, it's important that it has finite range. Otherwise, I would not, uh, I mean, I would not expect that this graph is finite. It can be an infinite graph, but, uh, I want this priority labeling to talk only about finitely many numbers. And then you, we can, so, um, to play on such a, on such a graph, what happens is that we start at a given position. So this is a constant of the description. And then the two players form a path. This goes like, is that if the current, I mean, if we are at a node that is marked to belong to what player alloys, then she chooses the successor. And, uh, if it is, uh, not her node, then it is Abelak would choose as a successor. And this way we continue a path. Now it can happen that, um, a player gets stuck and then he has lost and the game is, I mean, the place over and these are the clear cases. But it can happen that we have, we have an infinite, uh, way to the path. And then we look at the priorities that were on the, that we met. And, uh, since the range is finite, we have seen infinite many notes, then there must be some priority. I mean, there must be several priorities that appear infinitely often, but we look at the lowest one and that needs to be even. So it's a, this may be a bit strange, but the point is we want to, um, I mean, I probably want to talk about things that happen over and over again. And then we want to, to talk about them in a, in a nested way. So we want to, to just not, not just talk about things that happen over and over again, but, uh, we want to have some degree of freedom there. Okay. And, um, in such kind of games and a strategy, okay, for one of the players would be, uh, a function that has for a given graphics, how to continue. And here we are talking mostly about memory less strategies. These are strategies. I mean, there are functions that just tell you at one note, which successor to choose. So with a memory less strategy, you can also play. You may not be able to win. So, uh, following a strategy means, uh, whenever you are asked to move, then you look at your prefix or at your card node and you apply your strategy to choose your successor. And the winning strategy is one that guarantees that you will win everything. Uh, I mean, all the place if you follow it. And, uh, so if we, if we think in terms of graph and off, I mean, so we said a game is, is just a graph and a memory less winning strategy would be for the positions that belong to allies, a selection of nodes of, of successors or just a selection of one outgoing edge. So allies has a winning strategy in a graph if she can select from each of her position, one edge and throw the others away. And then to win means that every cycle that is formed in the remaining graph has a, an even minimum. And now for, for the other player, it means that, I mean, he can choose one successor from every node that belongs to him. And then every cycle has a, an odd minimum. And up here it's not so obvious, no? That, uh, either you can choose, I mean, from half of the nodes, you can choose a successor so that all the cycles are odd, or you can choose for the other half some successes so that all the cycles are, are even. And well, this is the, the theorem that helps a lot.  Either allies can choose one successor that makes all the cycles even, or a belacan to choose a successor so that all the cycles are odd. And, um, well, then the algorithms of parity game are so easy to understand and not easy to, I mean, up to the point to which we know them. Uh, if you have only one player, it is, uh, not very difficult to see that, um, I mean, it's in P time to tell who is, I mean, whether he wins or not. It means if you have a graph to tell whether all the cycles are, are, are even or not, that's not difficult. And, um, so if we go to the two player version, then it's about guessing. I mean, if you guess the strategy, then you can tell whether it's a winning one. And so this gives you an NP thing, NP algorithm, and so you can do it for the other player, then it's a coin piece over an NP coin piece. And, um, the deterministic algorithms, they usually have the number of priorities in the exponent, but so there is a very interesting algorithm if I had huge amount of time, I will tell you a bit about it. So, um, there is a, an algorithm that is really easy to understand it, it builds kind of a potential, uh, for the, for the positions of the game. And, um, so the idea is that, uh, if you have, um, so this potential is an encoding of a winning strategy. So it's something atomic, it's, it's, it's your sign of a value to every node. And so whenever you go lower, you look at the neighbors, and you find a neighbor that has a lower potential, and you can take it. And this will guarantee, finally, that you win, something like this. And so a quite simple algorithm shows that if you start with a vector of potentials that is about half the priorities. So this is why we have this d half. Then, well, I mean, this is enough to put in the exponent. And for the remainder, we have the number of nodes in the basis. So that determines the complexity. OK. Now, so model checking for the other fixed point logics is exactly parity games. So what we do is we take the first order evaluation game aligned in Tika, and then we do something about the fixed parts. So for the first order part, there will be no secrets. And the fixed points, they do exactly what the priorities are responsible. OK. So what is this? I mean, morally, this game is a product between the formula and the structure. So the formula, you can think of the syntax tree. It's not really tree. It has some loops, because we do, I mean, because of the fixed point variables. But think of the syntax tree, and then you have the structure.  And we start with the entire formula, and we point to no particular place in the structure, because the entire formula doesn't have a, I mean, we talk about sentences with no free variables. And then the moves, they are designed in such a way that if a formula is true, with the free variables bound to the point of the structure, then a loss should be able to keep it true. And if it falls, then a loss should be able to keep it for so, this means that these junctions and existential quantifiers are removed, like in the Hintika games, fixed point variables are just regenerated and in the atom. So this is the, what happens in detail. So, okay, this is not surprising. So say, we talk about alloys, she wants to prove that the disjunction is true and has a certain valuation. Well, then she will choose one of the two bambers of the disjunction and we need to stay with the same valuation. So this is what happens in the disjunction step and conjunction is dual. Then for the quantifiers, we say alloys should prove that there is a witness Y that is tightened with the guard alpha to the open variables and then makes phi true. And we have, so the current valuation is beta. So what we will do, I mean, what possible successors are, the formula will certainly be phi that we need to prove, but then the valuations. So we will choose valuations that satisfy the guard and this means guarding whatever sense. And I mean, the new valuation should agree with the current one on the variables that are kept. So we have new variables that are bound now and then the X variables, they are kept. So they should not be changed by this transition. So it should be quite natural thing. But what is important is that whenever we choose something new from the structure, we move from a guarded tuple


Hi there, and welcome to the short video on having a look at order boundaries in more detail. What you actually see here on my US 30 order ticket is what's called the level one price. Whenever you try and execute a trade through C&C markets, we've got what's called automated execution, which means that even in fast moving volatile markets, if you're trying to enter a trade, we'll always get you at the next available price, even if the market is moving at a fast pace. Now, for the majority of our clients, that's exactly what execution they want to go ahead and have, but depending on your type of strategy, it might be very, very specific for you to get in at a specific entry point. And that's really what boundaries gives you access to. It allows you to have greater control over your execution than ever before. So essentially, when I enable this in my order settings area, I'm just going to close this ticket right here and reopen it again. Now you'll notice that there is an extra icon which allows you to add a boundary. And essentially, if I try and place a trade right now at this price, that is my screen price. When it executes, that's my execution price. And what the boundary order does is allows you to stipulate that if the execution price is greater than 0.1 points away from my screen price, then reject the trade. I don't want to get into it. And that's essentially what boundary orders are for. In fact, I can even set that to be 0 points. If you want to be very, very specific about it, you want to get that exact screen price in relation to your execution price, that's exactly what it will go ahead and do for you. It's also possible for you to add this feature on the stop entry orders. As you can see there, I've got my stop entry price right here, and it works exactly the same way. So if I was to type in 0.1, that would mean that I am being very specific about what execution I want relative to the screen price that's on there. And you can see that any order that has a boundary attached to it, and this is my pending order section right here, has a B to be indicative of the fact that I've got a boundary placed on my trade, which means that if the execution price is further than that boundary price away from the screen price, then it will not be executed. And that's how easy it is to go ahead and get set up with your boundary orders.


Everybody forced here ripping 2022 Bowman inception baseball hobby 8 bucks half case number 32 Random team style. There's results on your screen. You can find them anytime at latent sports cards.com and there's a link in chat Let's do it gonna get through this one quick guys. We're still behind But thanks for filling it up. Let's pull some big hits And not gonna be able to recap this one save a couple minutes and uh get into the full case afterwards And personals on drip right now with kenzie everybody Right now. She's live now blue foil 84 of 99 will leave ascaz rays Primordial prospect auto nationals christian vocaro 14 of 99 Justin f huge congrats Christian vocaro on the auto get that one magged and a gold uh foil auto for the marlins jordan mccance 29 of 50 All right, very good first box Fuchsia for the mariners harry fort 35 of 75 Let me pick now So my pick for like 15 minutes. Leave me alone Get it tonight blue foil auto will bednar 55 out of 99 for the giants By the rest of the break spots i'll pick now fair deal Rangers auto ante de gutillette as 122 of 200 Plus all the all the good players keep getting drafted before me illegal So it's gonna take me a while to figure it out now. I mean, it definitely could mean Anything it could mean he's back in like a few days that just means there's no timetable Orange foil rangers. He saw more about three of 25 Rangers a gold west cath primordial prospects auto 34 50 You know white socks My favorite Yankee. I've only met one Yankee derrick jeeter. So I guess tim And red socks auto alex banellas 110 of 399. I think he's the only good one Yeah, he was a yeah jaw was suspended for two games And everything else is like Up in the air really like He's out indefinitely, which could mean he's back after that after that two game suspension. It could be a lot longer than that Who knows? He could be out that long. They got playoffs coming up yo Curtis me blue foil 91 and 99 rays Or hey, passata Now I it's Jorge passata is he's he's whatever He's he's a he was a catcher for some good teams He's kind of like Jared salt and lemakia Got a Cameron collie 233 of 399 rangers auto rangers And a gold auto dailin lyle 250 for the nationals I say Jorge passata just random Phillies blue foil steven wilson 21 of 99 right vaughn. Yeah, cuz They're they're like handling it internally into the league sees it's not done well 50 plus games. Is that what you're saying smack? Zero chance is 50 plus games Oh 50 plus days Still no chance. Heather Perez brewers auto 85 at a 200 He's convicted. Ah, okay. Okay. That's different if he's convicted. I get that I thought we were talking like what the what the drizzlers do I was like, no, dude, but yeah. Oh, yeah, if he gets convicted, then yeah Hey, but Perez brewers gold foil auto yonatan class a mariners five out of 50 nice hit mariners Sada verisack I mean, I think tag was better than a red sox fan, but I would say passata is overrated But that's just because he was he was on amazing teams He was like a he was an above-average catcher on amazing teams Got a Samuel Munoz two out of 99 blue foil for the Dodgers It's kind of like tech tech was just a very good catcher and like Red Sox captain on very good red sock teams Munoz there we got runnier can tarot cubs auto 101 of 200 Who has this team? kale kale d with the cardinals Look at this thing One-of-one inscribed auto Jonathan mechia say el Chino, what does that say? No, it says nothing is impossible Dude, that is fire one-of-one Silver signings gold jonathan mehia with the inscription Dude, that's filthy nothing is impossible and then This is el chino Oh el nino. No, that's Really tough to tell He pressed down pretty hard with that with that sharpie Whatever it was Congrats cardinals beautiful one-of-one Bottom right corner is not the best on that one That's sick first one-of-one gold Grats on that. I knew we were due for something Amerson aren't take a gold 16 to 50 for the Giants Yankees now primordial prospect auto rodrick aureus 72 of 75 Congrats to the Yankees Thomas f Dual patch auto marcello meyer nine of 25 Holy crap Who called who said this case who said this half the case of me? I think it was matthew Congrats red sox now Boston boston cameron jean congrats cameron nine at 25 dual patch auto marcello meyer Blue foil mariners noel v marté 34 of 99 Hendry mendez auto 197 to 200 brewers Red silver ink auto j allen 43 of 100 silver signings That is going to do it for the break really good break there. Matthew call it exactly two silver autos Thanks again everybody. We are on to the full case


Sir, my question is, how long do you estimate, would it take to restore India to its former beauty? See, we must understand this, a river bed for example, a river bed is a very complex and dynamic process. It's not something that you can fix in a short period of time. It will take a thousand years. I'm saying thousand just like that because it's long. It's much more than our lifetime it'll take to build a river bed. This is why we should never damage the river bed. Similarly, a forest ecology is not something that you can just put back in twenty-five years. You cannot do that. But in ten-fifteen years' time, we can set a direction where slowly in twenty-five to fifty years, there will be a proper forest with all the aspects involved. When I say all the aspects, I have spent weeks on end in the jungles. This is in that, you know, Gopal Swami Beta Nagar Holi in Karnataka, that region, which is tiger country, elephant country. Once I was there for about twenty-three days in the jungle by myself. When you are there for twenty-three days, when you come out, I saw tigers, I saw any number of elephants, very close quarters.  Because the insect life in the forest is so big, your experience of the insects will overwhelm the experience of tigers and elephants and everything. You will think you'll see a tiger if you go in a national park and see it, you think it's a great thing. But if you actually live in the forest, the other smaller life is so big and so phenomenal. And the things that they're doing is far more important to nature than anything else. So when we say life, we are not just talking about ourselves. So to put back all that, it will take a certain amount of time. But in our generation, we must set the right direction. That's all we can do. That's why we are driving for a policy. Thank you. If we try to campaign near the village or the people who are illiterate, I think the greatest support will be from there, the side. Because they are the one who is most connected to the riverside. Because there is no textbook in their head, they got more sense. They never pollute it. First of all, they never pollute. If they don't know how to use. It is the educated class in the world which is destroying the world. Just tell me, the uneducated, are they destroying the world? They're very eco-friendly. It is educated. So our education itself, the way we are absorbing knowledge is not good. Our knowledge is not working for our well-being. Our knowledge is working for our destruction, which is not a good way to treat knowledge, isn't it? Thank you. 97% is slain water. So how we can make the slain water portable or drinkable? See, you can make slain water or the sea water drinkable with this alienation process. But what is our idea?  Why? Is it a good thing that we destroy this planet and look for another planet where we can go and destroy that also? The water in this atmosphere is not gone anywhere. Million years ago, how much water we had, it is still there, isn't it? Only thing is, we are not getting it. Why are we not getting it? Obviously we are doing something wrong. Is it better to correct that? Or is it better to take the sea water out and after that the sea, the fish in the sea will have no water to swim in? Is that a good thing? No. If it's an emergency, we can desalinate water for drinking purpose. But you cannot do agriculture with desalinated water, that's going to be too expensive. Expense is another matter. But in attitude, why are we thinking we will destroy this and use something else? Let us revive this, isn't it? Rivers must flow. How you got the thought that you start this initiative?  In the sense, my engagement with nature started very early. I shouldn't be telling you all this. But I went to school only when it was necessary. So most of the time I was in the forest. So I know what, how the forest and the mechanics of the forest works, how the animals live, how the insects survive, how the birds live, the water, everything. So I've been just noticing things. I'm not a scientist, I'm not an environmentalist, but I'm noticing things are getting bad, very bad. So I thought I should do something. You think I've done something wrong? No, sir. Thank you. Thank you, sir.


ement the spectacular results and positive impact of our collaboration are both exciting and encouraging and we strongly highlighted and they were strongly highlighted this afternoon by many of our members The impressive fulfilment of the intention set forth by the Scottish Government would not have been possible without community groups across Scotland In 2014, the membership of the Scotland-Malawi partnership consisted of 70 large organisations 23 medium organisations 49 small organisations 156 individual members 16 Scottish local authorities 116 primary schools 86 secondary schools and 176 youth members I'm just waiting for somebody shouting house for bingo there In Glasgow alone of the Scotland-Malawi partnership have had an immeasurable impact The Glasgow City Council has made Malawi a priority since 2005 as each Lord Provost has visited Malawi to maintain the relationships, raise funds and encourage Glaswegians to engage further with Malawi The council's Malawi leadership Leaders of learning programme improves the teaching and leadership of Malawian staff and young people and thus improves the educational outcomes for Malawian youth I would like to place on record the great work of my local secondary school at Night'swood secondary school and in particular to my latest school work experience Rhyma Gravy of all her hard work she is doing to help support and visit Malawi next year Further Other members have mentioned further groups such as the tier fund work with organisations in Malawi to support children to reduce exposure to national disasters and improve access to food, water and sanitation The Glasgow-based organisation sense has been working with small organisations in Malawi to establish projects assisting deafblind and disabled children and adults Those initiatives along with many others all across Scotland have directly benefited 2 million Malawians and have indirectly benefited 4 million While Scotland's organisations and institutions have used their connections to Malawi to improve Malawian lives for the past 10 years the mutual relationship between us cannot be ignored In conclusion, with 94,000 Scots and 198,000 Malawians involved our links with Malawi are an integral part of Scottish society and must receive continuing support The effort to connect with Malawi is a matter of unique national effort mobilised by all the people of Scotland I hope that the Scottish Government will agree with me that now more than ever we should continue our 156-year-old relationship with Malawi built on respect, mutual trust and understanding Thanks I now call on Minister Whom is it use to have to wind up the debate? Minister, you have until 459, please Thank you, Presiding Officer Well, that was a great debate from across the chamber I always enjoy hearing the stories of people's localities but I thought also some very good suggestions on how to take the relationship forward in the continuing 10 years and of course beyond that as well Let me try to address some of the points and reference some of the contributions that were made, Presiding Officer Claire Baker was right to ask a question about the international development fund I accept what she's saying in regards to the £9 million being frozen over the period that we've been in government I would put that in some context and say to Claire Baker that certainly in our manifesto in 2011 there was only two budgets that we committed to keep frozen one was the NHS arguably Scottish Government's most important budget and certainly its largest and the international development fund that was the importance that we attached to international development work that we do but notwithstanding that I accept what she says that there's some thinking that's always been done in government here certainly as we approach elections to that we'll certainly look to yeah but of course I will take an intervention Claire Baker I do feel except that the Scottish Government have managed to protect that budget and that it has been frozen but I think we as a Parliament should reflect on the power that we give to that fund and look at some way in trying to increase the value of it restore the value of it Minister Yes, I would accept that and as I say we are in the run-up to elections and I think rightly we'll be lobbied by a number of international development NGOs and we'll listen carefully to that but we'll also think about how we can do things innovatively within that £9 million I think which is important is a key feature of the work that we do I thought Liam McArthur's contribution was excellent and so on inherently but also he himself represents of course the fact that the length and breadth of this relationship is right up and down Scotland I remember the first week of my job meeting his friend Pastor Kester from Cholaw Highlands and I hope he'll pass my warmest regards to him and also to the community at Westry where they were twin but that demonstrates the depth of the relationship Jamie McGregor's right to highlight in his opening statement the work that DFID and other international partners do we have a very good relationship in the Scottish Government with DFID I met with the DFID head of Malawi Jennifer Marshall when I was out there had a good conversation I do think there's some things that DFID could do to tweak the work in Malawi and we can certainly look to even work together on certain projects but very pleased that that relationship is a strong one he was also right of course to mention Mary's Meals an organisation that has universal support across this chamber and as he said under the world class leadership I think is a phrase he used of Magnus McFarlane as well so Mike Russell I thought summed it up best this entire debate he mentioned three things history setting that historical context which I think was important for us to do because that shapes the work that we do the people to people relationship which is the cement is the foundation in fact that holds and underpins the entire relationship and then he spoke quite rightly about equity and equality in the partnership and I thought you know that was a proper tone that everybody took in this debate and nobody views the relationship between Scotland and Malawi as a big brother younger sister type of relationship was always spoken as mirror countries as equal countries as countries collaborating together as well I was also interested to hear Mike Russell's anecdote about Dr Laws and the fact that he told his students to grow a beard so it gave them 20 minutes extra with the Lord that might well explain why he himself has kept a beard I always thought he was a bit of a sinner as opposed to a saint Presiding officer all members talked about sustainability and this is what I will spend the rest of my contribution speaking about sustainability is hugely important in fact it's vital and if we want to continue this relationship not just for 10 years but beyond that as well so how do we do that because there's a number of donors already in Malawi Malawi has been receiving international development aid for the best part of four to five decades and in some indicators have actually got worse let alone got better so sustainability and doing projects in the best way possible so that they make an impact is key so here's some of the ways that I think we can be sustainable with work that we do Presiding officer the first is to use Scotland's expertise where Scotland has expertise and how we can make a difference to the needs of those in Malawi is going to be vitally important we have a relatively modest fund that does have of course a big impact but using our expertise in areas such as for example renewable energy will be key Jamie McGregor was right to mention some of the renewable energy projects that we fund here in the Scottish Government they're important not just because we set up solar panels or because we set up other micro micro hydro turbines or any other renewable energy projects they're important because we teach skills to those in Malawi so that they can take forward renewable energy solutions themselves so that when a solar panel breaks they can fix it so that we need to find an innovative renewable solutions they're the ones that can devise it as opposed to waiting for international donors to come to give them some of that expertise so that is one way we can make our work sustainable the second way we can make our work sustainable in Malawi is through governance many people spoke of the relationships of Scottish Parliament has with the Parliament in Malawi I commend that work I would encourage the Scottish Parliament and the CPA and others to continue to do that work I've seen first hand speaking to parliamentarians how important they find and they value that work I know many MSPs have a buddy with MPs in Malawi some of them are now ministers in the Malawian Government and I can tell you they really value that relationship and Malawi has had a difficult time over the last couple of years with the Cashgate scandal which has eroded some trust in the political process but we have a chance to try to help to build that up so I would encourage yes of course Llywydd Smith Thank you very much The Malawian MPs that I met when I was there were capable, confident and caring particularly the women I have to say when we're clearly motivated by working for the good of their constituents and their country so would the minister agree with me that we should do what we can to share our knowledge and experience with them but whilst also at the same time learning from them Minister Yes I would I would agree with all the sentiments made there particularly the point about women parliamentarians she'll probably be aware that unfortunately Malawi regressed backwards they have less female parliamentarians in the last elections than they had before and that's a matter of regaining something I think we should work with the Parliament of Malawi to try to and the political parties of Malawi to try to improve I would also look at the area of sustainable trade as well Claire Baker mentioned that one of the biggest in fact the biggest export for Malawi is tobacco that is not a sustainable future for Malawi as we all know tobacco thankfully the use of tobacco is going down across the world she also mentioned chance for change which is an organisation I've had a great pleasure viewing and seeing and the good work that they do and there we can work with young entrepreneurs we know that two thirds of Malawi's population is under the age of 25 you have there an opportunity to increase entrepreneurialism amongst young people which will help to create wealth in the future which will help to create jobs as well and Scotland can help with perhaps innovative finance solutions where access to capital with a 40 per cent interest rate is incredibly difficult sustainable how to make the relationship further sustainable is through education many people spoke about this Mike Russell spoke about this particularly well from his previous experience with education right from nursery right the way through to professional exams as well I think Scotland can play a key role in this we need to be able to build and help to build the capacity in Malawi in colleges and universities and schools of course so that we prevent a brain drain in Malawi lots of good projects and fellowships and scholarships are done in Malawi but all they do sometimes is have the effect of taking some of the best and the brightest minds away from Malawi from that country where they are vitally and desperately needed so we can work with Malawi in universities and educational institutes to help to build that capacity yes of course I'm very grateful to the minister for taking an intervention one of the points that was made to us when we were in the cross party group with glennifer high school was the fact that those schools that have the relationship are attracting in pupils from elsewhere to the detriment of other communities in other schools and that's something I think that looking ahead the next 10 years we probably need to look to address yes it's one of those unintended consequences that can often happen from good work the reason why it's important to highlight these is that if we can build a good relationship with the Government if something is working in one school or one hospital or one university hopefully with that relationship we have with the Government we can encourage them to perhaps roll it out further and nationally and this is where large international donors will also be important to finish off Presiding Officer I think we can also we must tackle the gender gap that exists many members spoke about it it's sustainable development goal number five all throughout life Malawian women are disadvantaged and there are some inspirational Malawian women Monica Zonzi is known to many members across this Parliament the work that she does with Bangway youth centre being an inspirational role model for other females if we can help to encourage them support them then of course reducing that gap and that gender inequality gap will only help to pay dividends in the future so that is how I think we can make the relationship more sustainable Presiding Officer it's a great priority for us in the Scottish Government I thank Hanzala Malik for his kind words to me but caveatted of course that he said I'm doing a good job so far I will do my very best in the future to continue that as we will in the Scottish Government and the last word goes to Dr David Livingstone on the 10th anniversary of the signing of the co-operation agreement I think of his words when he said I am prepared to go anywhere provided it be forward and I think with that that we should look forward to not just the next 10 years but in many decades to come renewing and strengthening that relationship between Scotland and Malawi thank you that concludes the debate on Scotland and Malawi 10 years since the co-operation agreement the next item of business is consideration of business motion number one four seven eight one in the name of Joe Fitzpatrick on behalf of the parliamentary bureau setting out a business programme many member here wishes to speak against the motion should press the request speak button now and I call on Joe Fitzpatrick to move motion number one four seven eight one moved no member has asked to speak against the motion therefore I now put the question to the chamber the question is that motion number one four seven eight one in the name of Joe Fitzpatrick would be agreed to are we all agreed the motion is there for agreed to the next item of business is consideration of business motion one four seven eight two in the name of Joe Fitzpatrick on behalf of the parliamentary bureau setting out a stage one timetable for the Pentland Hill regional part boundary bill any member wishes to speak against the motion should press the request speak button now and I call on Joe Fitzpatrick to move motion number one four seven eight two thank you no member has asked to speak against the motion therefore I now put the question to the chamber the question is that motion number one four seven eight two in the name of Joe Fitzpatrick would be agreed to are we all agreed the motion is there for agreed to the next item of business is consideration of business motion one four seven eight three in the name of Joe Fitzpatrick on behalf of the parliamentary bureau setting out a stage two timetable for the carers Scotland bill any member wishes to speak against the motion should press the request speak button now and I call on Joe Fitzpatrick to move motion number one four seven eight three no members has asked to speak against the motion therefore I now put the motion to the chamber the question is that motion number one four seven eight three in the name of Joe Fitzpatrick would be agreed to are we all agreed the motion is there for agreed to the next item of business is consideration of free parliamentary bureau motions I would ask Joe Fitzpatrick to move motion number one four seven eight four and one four seven eight five on the office of the clerk and motion number one four seven eight six on the designation of a league committee on block moved on block the questions on these motions will be put decision time to which we now come there are four questions to be put as a result of today's business the first question is it motion number one four seven six eight in the name of Paul Wheelhouse on the succession Scotland bill be agreed to are we all agreed the motion is there for agreed to the next question is that amendment number one four seven seven five point one in the name of Clare Baker which seeks to amend motion number one four seven seven five in the name of Humza Yousaf on Scotland and Malawi be agreed to are we all agreed the amendment is there for agreed to the next question is that motion number one four seven seven five in the name of Humza Yousaf as amended on Scotland and Malawi be agreed to are we all agreed the motion is there for agreed to I propose to ask a single question ond motions 14784, 14785 a 14786. In the name of Joe Fitzpatrick on the office of the clerk in the designation of lead committee. If any member objects to a single question being put, please say so now. If any member has objected to a single question being put, the question is that motions 14784, 14785 and 14786 in the name of Joe Fitzpatrick be agreed to. Are we all agreed? The motions are there for agreed to. That concludes the decision time. We now move to members' business, members leaving the chambers to do so quickly and quietly.