From time to time we have a new speaker that has made it through the gauntlet of Call for Papers and they've been sort of vetted and we really appreciate their effort and their work and their research and there's a lot of work and we really want to congratulate our new speakers for making it through and for having the guts and figuring it out for the first time. It's all down from here. So give Josh Mitchell a big round of applause. Cheers. I think that makes four. I'm sorry. So Josh is here to talk about some critical issues with police body cameras and ride-a-log adventures. Yeah, it's cool. Hello. Hi. Welcome. Welcome. Welcome. All right. So this is what we're going to be talking about today. Yes, we have to have this up front. You guys can read that. Okay. So here's some of the things we're going to be talking about. I'm going to go with a little bit of an introduction. Say hi to everybody. Let's talk about some of the technology involved in these devices. I have five specific models to talk about. I had seven but due to circumstances out of my control I can only talk about five. And then we'll cover some industry-wide issues that I think apply to all of the devices. Have some, see some impact that's kind of important. And then have some questions. So here this is me. And yes, that is a hamburger phone. I've been doing this for quite a while. Former military. Then I specialized in electronic warfare. Then got into doing a little bit of malware stuff because it's fun. And then I became a professional exploit developer for a number of years. And now I do security research at NUEX. So there are approximately, I've categorized 77 different devices out there in the wild. You have the big ones, Panasonic, Motorola, Petrolize. Now these devices they have a wide variety of technology. Kind of forced into them. It's Wi-Fi, Bluetooth. Some support NFC. Some devices have triggers, event triggers you can use. Some do live streaming direct over GSM. Those are really popular in Europe. And other ones have proprietary RF communications and they ride along. They piggyback on the walkabout radios that police are using. And it's very important to note that these devices were primarily designed for transparency versus secrecy. Although that may be a bit of a vendor line because of some of the issues that I've found. And we'll play a little game feature versus Vuln as we go through this presentation. Again, so these devices they interact, they have an entire ecosystem surrounding them. It's not just the camera, which I'll show you more about this one later. They have desktop software. Some of them use blended storage. So you have onsite storage. You have cloud repositories. Some even have dedicated docking stations that use an embedded Linux distro and they create like an IPsec tunnel back to a cloud repository. And most of the ones that are interesting have smartphone applications that allow, that allow officers in the field to annotate videos and review the contents of the camera, which we'll get into later. It's quite bad. So this is the first device I kind of started looking at back in January. And it's sold on Amazon. Anyone can go and buy it. Pick it up. It's sold under the CEESC people. But Advanced Plus is actually the manufacturer of the device. And they're located in China. And one is mentioned really quick. I did get in contact with the vendor. And they have given me firmware and desktop application. But I didn't get a chance to review it because it happened last week. So anyways, so this particular device got it, took it apart, took the remote apart, trying to figure out how the remote is interacting with the camera. And had to go and look at some chips and see what frequency is operating. It's actually 433. And RTL 433 identifies it as a smoke detector, which is kind of interesting. And the neat thing about the remote and why I wanted to get this device is because the remote can be used to trigger multiple different cameras. Not just one. You can actually update the remote so that it triggers like a wide variety of cameras. And so we can kind of be annoying with that. Because this is the simple signal that's being transmitted. It's, there's no rolling codes. There's none of that. So if you want to, you can sit there with a RTL SDR, receive the signals, replay it with something more powerful than a hack RF because, well, it doesn't have much power. The other interesting thing about this device is when I was getting in contact with the manufacturer, they told me about their RF certification and it was not FCC certified. So there's that. Wow. Another thing about it is it's essentially a USB drive. So anything that you have, you know, when it records the videos, it drops them down onto the dedicated storage on the device.  So if I wanted to put autorun.inf or take advantage of some link vulnerabilities that have been popular in the past, that's completely possible with this camera. All right. So here's another, another camera. This is the on call OCP Pro. As you see the architecture of the system down there in big, but unfortunately because of the one I got, nothing really works. So I got it, I think the USB was broken. It wouldn't maintain a USB connection. So everything to your right of the arrows, I didn't get a chance to test out. But there were enough glaring issues on the other part that it's fun to talk about. It uses an RTOS called ECOS. That hasn't been very many updates on that particular website in quite a while. When you trigger the Wi-Fi on it through a button press, it comes up as Firecam and that is the default password. And yes, it has a wonderful embedded ECOS HTTP server that I thought would be fun to kind of poke at, but you'll see that it wasn't really necessary. Yes, so this is the contents of the movie folder. And you see all the videos. It's coming up as 2014 because again it never got a good time sink from my laptop. But these are all to save videos and you see you can remove them, download them, upload files. You can actually even upload arbitrary HTML and serve that in the browser. That's not good. Yeah, so totally unprotected. 100%. No, nothing at all preventing anyone from downloading these videos or uploading ones to kind of overwrite these. And I have some tools that use git and post to overwrite files and download all the contents. It also has a nice settings file that you can download as well that has all of the relevant information about the camera in it, which is interesting. Okay, so here's the first kind of big device, a widely kind of used device that I had a chance to look at. So this particular device has a smartphone application that you can go and download available on the store. It has desktop software that is available for download on the manufacturer, or the reseller's website. And I say reseller because we will show, I'll show you this in a moment. And the firmware is also available for anyone to go ahead and pull down and browse and look through because it's not signed and it's not encrypted, which is awesome. Right, so smartphone application is primarily used to access the RTSP server that is not protected from anyone. And you can view the save videos on the device. And the desktop software is used to authenticate with the camera and download the video files off of the camera. So the desktop software, as you see there, it's a simple wrapper around the DMT10.dll. And that is actually, the name of that comes, I think, comes from the Chinese manufacturer because they sell the DMT10 version of this camera. The admin and general user passwords are six characters. They have to be exactly six characters, no more or no less. It has the SSID as you see for AMBA boss. And that's not something that you can change. And I'll get into that why that's kind of a big deal later. And you have some other things you can mess with in the, this is the administrative interface. As with all of the other desktop software that I have looked at, it's missing a lot of the exploitation prevention mechanisms like ASLR. And that's kind of across the board.  The verify password routine coming from DMT10. And then you have the set password export that's called from, that's available in DMT10 as well. As you can see there, there's no correlation between the two. That means that I can set the password without having to verify the password. So that's awesome. Yeah. Okay. Again, it comes with a smartphone application if you want to go find it. There it is. And that is primarily used to view state videos and live stream, whatever the camera is looking at. And I want to be sure to mention all of these cameras except I think for the next one. When you activate the Wi-Fi on these devices, they create a access point, right? They act as a Wi-Fi like hotspot without internet connectivity. So that's kind of important because if anyone's wanting to review videos, they create essentially a beacon upon themselves that anyone can kind of find and play with. And we'll talk more about that part later. Right. So again, this device, it's running a little bit of an older version of Linux. That's not really bad. Again, it has a JSON messaging server, which I was really surprised about. And RTSP and DNS.  That if you want to know anything more about how this system operates, I would really recommend going reading and looking through that because it has a lot, it goes to a lot in depth about the messaging subsystem. And I wish I would have found that out, right, when I was looking at this. But I didn't need to because it has root Telnet exposed with no password required. And I wrote a wrapper script around PyTelnet that allows you to upload and download files if you don't feel like using Telnet. Again, here's the contents of the media folder, so any videos that you make or saved into here. This directory is mounted when you use the desktop software to download and upload videos. And it essentially sends a trigger to the camera and we can then, it treats it as a removable media drive. So if you wanted to upload, again, link files or any type of windows-based exploits to take advantage of the back-end digital evidence storage repository where these videos will be saved, and have something nice like WannaCry, you could definitely do that. What, yeah, so there we go. So this device, the digital ally first view HD, is architecturally different than all of the other cameras. It treats, it is a client. And it has other devices in its ecosystem that act as servers. For example, the rear view mirror in a cop car will act as a Wi-Fi access point. When this device is within range, it will automatically connect to that Wi-Fi access point and then, you know, interact through that. It's also how if you turn on the sirens, it will automatically start recording. It has event triggers, that kind of technology. And again, it supports, has its own desktop software that I tried to purchase two months ago and I did not get. Which is unfortunate. It has a smartphone application that anyone can download. Firmware is available and easy to look through. Literally tar, well unpack the firmware. And it does have a docking station that, you know, you take the camera out and plug it in and it will download stuff. But interestingly enough, it does come with a minimal software bundle on the device for anyone who gets a hold of it and wants to a minimum configuration manager and a minimum software viewer to view the contents and see whatever is going on on the device. You can also, it also has like readme's on there about how the device is supposed to work. So that's very, very user friendly. And kind of nice. So here is a picture of the minimum, the like the minimal viewer that comes packaged on the device. Right? The software, V-Vault, I tried to purchase. And hopefully it will get here eventually. Because there's a lot of features that I wasn't able to interact with and play around with because I didn't have that. One of those main features being, you turn the device into a wireless client. I couldn't do that because you have to pay the $800 for the desktop software. But we were still able to get some good stuff out of it. So the packaged installer is written in C-Sharp, which is awesome because it's really easy to decopile and play around with. The configuration manager generates two types of files, the 1WM config and that's for wireless. It also generates the device config and that is a binary format that's, that you can use to set the time and stuff like that. Now the, the viewer which is used for evidence review and making comments and clipping videos and stuff, generates three types of files, the DAZ file which is the digital ally zip file, the metadata file and the VM2 file which is XML. And we will go into those right now. So the WM config file is quite interesting because it is something that you're supposed to generate through the configuration software and then put on the device and it configures the device on how to interact with police networks and police like systems, right? So that would be important. So that would not be a good thing to have that XOR as, as the way to decode it. And you can see here that the, it's configured to use the, to look for the SSID that is associated with a police network. It has the PSK that is just text encoded and the password for FTP logins so that it can upload and download whatever media is on the device as it goes. Then the, the device config file is again to, to insert time and other information onto the device. That has a couple of lines worth of an XOR but it basically is an equivalent to a hex 88 XOR. So that's, that's cool. Oh and the 001 is before and then the small one is after when you decode it with, with XOR. Here's the DAZ file. The DAZ file is generated through the viewer application when you, you have, so you have the, the AVI and the metadata file. You insert that into the viewer application and then you mess around with, with the video and you save it out and it creates this DAZ file and all this other stuff. The, the VM2 file here is included in the, in the zip file and you see it has a huge amount of metadata associated with how this, this camera was operating and how, you know, like what sensors were used, what's the GPS cords, all this kind of stuff, right? And you see here it uses AES 128 CBC and the file name is the decryption key. See here we have, like in, in this we would have D0, 01, 8002 and then we just basically make that Unicode and we have the IV and the decryption key for our AES, whatever. That's, that's awesome. Right, so since, since the digital ally was so nice to include an unsigned installer on their application, I thought it would be fun to insert a back door into that because I can overwrite it, download it, modify it, push it back, overwrite it and then if anybody wants to install it, they, they give me a nice shell. So you see here the top item, that's the normal entry point. I just hand jammed this assembly and all that does is it creates a thread on the, on the section that I added to the application and that section is O-nose and then underneath, I simply put in some Metasploit reverse shell, shell code and this is the, here we have the install shield and down here we have the shell that's generated. I had to cut a lot of videos, so for time, but, so that's really bad. Right, so, again the, again the Android application which you can download on the Play Store is used to basically use the configuration manager and you side load config files onto it and that will turn your, your phone into, into an access point that the camera can then talk to. Now I was hoping that after two months I would get the software that I purchased and so I didn't bother to reverse engineer it with Frida, but I might have to soon or get my money back. I don't know. Right. So again, here is the firmware that you can get from the, from, from the manufacturer. Again, Benwalk and tar is really all you need, but as you're going through the, the firmware because once, once it gets extracted it has some, some really interesting, interesting things going on in there that I think I'm going to put in version two of this talk. There's some serious unbounded memory copy operations going on. But anyways, if, if you don't want to debug anything running on the device, if you create a nice little log file on the, on the, the camera, it creates every, after every operation here we have this, this log stuff going on after every, in every function it generates that. So there's tons of logging information and stuff. And all you have to do is create the log file and it's good to go. The GUI application in the MDVR, mobile DVR, pretty sure what that means, is what's used to do all of this interesting stuff. And it does some really interesting stuff because there's lots of wifi triggers and peer to peer operations going on with all of these devices when they're within the same network. And there's a lot of unbounded memory copying operations going on on these devices in their peer to peer network. But yeah, I think I'll save that for the next version. Ah, this guy. I wanted to spend some time on this because this camera is used in some pretty big, in some pretty big departments. Again, it has the smartphone application and has the awesome desktop software. It even has the docking station and the sports cloud storage and you can get the firmware. And they try, they try to be, have a pretty professionalized operation. Again, smartphone for live streaming and viewing media, which we'll talk about later. And desktop software for actually verifying that the media files that are coming from the device are valid. And we'll talk about that later too. So here's the desktop software. It is a Fat Client, right? So essentially you have a SQL database installed and then you have some two Fat Clients for admin, one for admin and one for officers, right? And it's used to, the admin app is used to configure the cameras and then assign them to various officers. And then the client application is used to upload, download video, and that's essentially it, right? You can add comments, but really uploading, downloading videos from the cameras, exporting them from the Fat Client is essentially it. But another application that is installed with this is the import-export tool. And there's, there's two types of authentication going on here. You have the authentication and the passwords that are created for, through the admin app that is, that are used to interact with the, the software and with the, the contents of the database. Now, then you have the, the Windows authentication mechanism, which is actually used by the import-export tool to authenticate with the database by passing all of the, uh, V-View app off and uses straight, uh, Windows off. So if I am local admin somewhere out there on a desktop that is used, that the officer is using the client app to upload and download videos, I can then connect and, uh, export videos. But I'll show you that in a minute. Other things associated with this, we have, um, we have lots of the install folders that kind of spreads out everywhere when you install it on your, on your box. Um, and we have logs about the, the, the communication between your computer and this device. Um, it communicates over, uh, USB, creates a comm, serial over USB, uh, attaches to the, the file and then starts writing stuff out to it. Um, it also, uh, has, has, uh, downloaded metadata that, like downloaded videos, cashed on the computers. So, uh, bypass, down, you have access to the downloaded metadata by bypassing, bypassing the upload client by just looking into the, the correct folder. Um, yeah, and, and again, if you go there, you can see all the cash videos. Yeah, so domain credentials, what I was kind of talking about earlier, uh, are used to export the database instead of the application credentials that you use when you, uh, create users. Um, and that is the, uh, admin user, super, first supervisor I suppose. Uh, and that's the SHA 1 of 1, 2, 3, 4, 5, 6, which is the default password, uh, for all of the, uh, admin, um, yeah, for the, for the supervisor, for the admin interface, right? Um, and they, they try to, when you install this, you start it up, but this is how I found it. Uh, it requires you, they ask you to contact their help and support system to configure the desktop software. Really, it's so that they can upsell you, right? So I was like, well no, I don't want to do that, um, because it probably wouldn't be good having Josh at his house contact the support people. Um, and, and so I was clicking around and found the import-export tool and googled the password. Uh, and, and then I was able to have admin on their software, which also you have to buy. So, uh, ah, another issue with this is when you download videos off of the camera, um, you, it, it, uh, you can, you can play those videos through the interface, right? Through the, through the, uh, the admin or the client interface, you can review the videos. Um, and to do that, it comes bundled with FFMPEG. Uh, and, um, it also uses FFMPEG to, uh, use the FFMPEG to create thumbnails based on the video. So not only when you just play the video, it doesn't use FFMPEG, uh, but when you, uh, when you upload all of the videos at, at the time of upload, it uses this to create thumbnails of the videos, which is important because it's processing videos with a version of FFMPEG that is from 2014 and has over 122 public CVEs out there for this version of FFMPEG. So if I could modify those version, those videos beforehand and search and exploit, I know I have a really, really vulnerable piece of software that's going to process those videos, which would then give me, uh, gain me access to the evidence storage repository where these, these videos are stored. Ah. So, here we have the, the admin interface, um, of the, of the Vera Patrol software.  Uh, and then we have over, over here, we have making a copy of the video and exporting it and stuff. And there's an important video that we need to look at right there. It has a time length of zero and a valid digital signature. So, as we export these AVI files from the interface, uh, we had, we, you know, just pick a, pick an output folder and it creates the AVI file and then it has the log file that, uh, that requires all the comments put in there. Uh, and it saves them to wherever you want. And again, it says this file has a valid digital signature. A valid digital signature. So this is the contents of that AVI file that has a valid digital signature that is used to prosecute people and put them in jail. Uh, and I'll, I'll show you how I did that, uh, in a moment. Again, so we have the interaction, uh, with this, this device, um, it has, uh, you know, we create our log, it has log files that are nice and kind of, kind of peruse through those. Uh, it uses serial communications over USB, uh, to upload, download files, update firmware, uh, and do all that kind of nice fancy stuff. Well, the other day when I noticed when I was downloading those files, which were quite big, uh, it actually just tells the device to mount, uh, this, the, the application just tells the device to mount itself as a removable media drive. And then downloads the files. So if, if you want to write an application to interact with this, we see that, that the command system is incredibly complex right here. Uh, and very difficult to modify. And we can see right here that the device gets mounted as the eDrive, uh, and then it begins to upload the files. So, as I see this random drive pop up on my computer, I'm like, oh, what's an e? Let me, let me open that. And then you can just download the files off of that, completely bypassing all of the evidence collection software. This is awesome. Uh, right, again, so we have the, the, uh, smartphone application, um, that is supposed to interact with this device in the field. Um, and it uploads metadata to each video based off, uh, with JSON, which is pretty standard. Uh, you can also download any file off of this device. Right? So, uh, and then you can live stream, uh, with RTSP. So the only thing you need to do is if, if you found one of these in the wild, is download the app and you can see anything on it. Also, if you're within proximity of some police officers and you'd like to see what they see, you can see, you can see that over RTSP. Um, there was some pretty good talks a little while ago about the SunPlus format. Uh, and there's some tools out there that I definitely used that converts the SunPlus, uh, firmware burn format to, uh, to ID, IDB, which is great. Uh, it's freaking awesome. You should check that out. I love it. Uh, so you don't have to unpack or unpack firmware or do anything like that. It's just ready, good to go. Now, this device has several services that are available on it and it is this one right here. Uh, uh, it has FTP, uh, it has the photo transfer protocol and it has RTSP. Uh, FTP is used for uploading downloading files. It's also used for, with the smartphone, uh, it's used to, you know, upload, uh, and download metadata. So you can download any video off the device. You can also assign, uh, you know, any type of metadata through the JSON interface. Now, for you to be able to get, um, uh, for, for the smartphone to get, uh, directory listing of which files are available, uh, it uses the photo transfer protocol, which, um, there's some really great get repos out there about using PTP over Wi-Fi. Um, and that's going to be important in a minute.  So if I wanted to see what all the, uh, what all the, uh, video that was stored on this device, you simply use PTP. Uh, and we can see here that we have some AVI files that were filled with A's earlier, uh, available in our PTP directory listing. Now, for us to interact with that incredibly sophisticated, uh, FTP software and overwrite files that should be digitally signed and used to, uh, put people in jail, uh, we use FTP and we have some passwords Wi-Fi cam and username Wi-Fi cam. It actually accepts any combination. So if you don't remember Wi-Fi cam, you can try any other combination and it will work. Uh, then we have, uh, we, we just use type 1 and then we, uh, we enter pass, passive mode. I was playing around here trying to delete video files. It wouldn't let me overwrite them with whatever I wanted. And that is how we got A, uh, in that digitally signed, valid evidence file from earlier. Okay, so we have like a little demo. We'll show you here. Turn this guy on. Cool. It's on. All right. So another thing that I, I wrote, um, was a tool to, uh, identify these cameras in the wild based on their MAC addresses and their wireless access points. Because I said I was in the military and I, I think a, a very, very important to get often overlooked thing, uh, is the ability to, to locate something, uh, like in the field and be able to identify the emitter with the platform, the platform being the police and the emitter being the camera. Uh, and if I know that V view, I go and look in the OUID database and I see the MAC addresses that are associated with this company that is published by the IEEE. Uh, and I can say that this company only makes cameras. And if I pick up a MAC address or a SSID that's associated with that, well guess what it's only going to be? It's only going to be this. Right? And, uh, as a bad guy, you might want to know that. Right? Maybe find out about cops running around in our area. Let's see if this is working. I don't know. Yep. Live demos. Ask. Let's see if it's connected. Okay. You'll see. Okay, yeah, there it is right there. See if my buggy software works. Nope. It's not working right now. Oh well. This is a two-part demo. Right?  Spend the story of my life trying to get one interface that works right. Uh, but anyways, uh, if you wanted, it's supposed to identify this guy right here that we see. Uh, and we can just connect to that. Um, and the password is 1-2-3-4-5-6-7-8-9-0. It's very complicated. Anyways, so here, um, again, no, nothing really protecting, uh, anything that's going on. We'll just go ahead and we can just use VLC. It's that easy. It takes a while. Ta-da. Hi Defcon. So again, again, feature. Feature, right? This is a feature. That is awful, right? Anybody that would be like, yeah, I would like to live stream some video off of a police officer whenever I want. That's a feature. Oh, and the manufacturers like to say that, oh, it's only supposed to be right here. Yeah, cause, cause Wi-Fi antennas can't pick up stuff from a mile away. Like that hasn't been proven years ago. Right? Okay. And, and we can change the default password on this to give it something very complex because crack doesn't exist. And neither does that Wi-Fi, uh, thing the other day where, um, you could, you could get the, the key without even needing a client on the WPA2, uh, uh, network. If you guys haven't read that, I highly encourage doing it. Okay, so where's my presentation? Come back. All right. Here we are. Bang. Okay. So cool. Industry-wide issues. Right? So I analyze many cameras. I can talk about five. Uh, and, and industry-wide issue is digital signatures are not applied to the multimedia coming off of the device before it touches anything else. Which means that if anyone is able to get in between that being, either being on the desktop or interacting with the device in the field, you can corrupt any kind of evidentiary information on that device. And that is supposed to stand up in a court of law and put people in jail. Again, unencrypted firmware, unsigned firmware, unsigned. Your smartphone signs this firmware. Right? That, how much does that cost? How much do these things cost? About the same. Right? Uh, so you can peruse, you see anything you want. If you have physical access to the device, you could roll your own malware, drop it on there, and then as soon as it gets synced back in the back end, you own them. Done. Three minutes? Okay, cool. Uh, and again, localization, being able to find stuff out there. I war walk, find cops. Cool. Why it's important, uh, because this happened here last year, right? And the guy had cameras in the hallways, and he was targeting police. If he knew about this, he'd be able to do that a lot better. Okay. Thanks, thanks to Saha and everyone at Basement Browderhood. Uh, New Ecstasy. And I think, I think I have a couple minutes. I got questions. I got time for questions. Like one, one question. What time is it? It's team gram time time. Yes. Some do, some don't. Some you can actually configure to always be on the Wi-Fi. Always have Wi-Fi on. Some use Bluetooth. No, this doesn't show anything. It's just on. It's still connected to my laptop. I have, but it's very difficult to get any response at all back and they don't publish who, uh, you know, who they're selling these things to. Except for the like NYP, you can go to these guys' websites. They have a couple of their big contracts on there. No, they won't even send me the software I bought. So cool.


Guys welcome back to the independent investor channel man.  It's been an absolutely crazy week for me I'm really drilling down and putting pressure on the career. That's for sure The investing landscape has been quite an interesting one since the start of this decade In 2020 we just had a little flare-up of COVID. I thought we were kind of done with that So that kind of reintroduced itself back into the equation today So it kind of kind of a little bit of a little bit of a scary time anyway It's a confusing time, you know for me. It's been pretty steadfast. I've been you know in one of those Places in investing that I've been Watching it diligently for the last three years doing what it is that I do and it's been a rough patch and I've had this over, you know the 25 or so years that I've been involved in financial markets I would suggest that maybe half of that has been involved in financial markets in the in the correct manner Not to be a little bit caught up in the euphoric hype at the end of the last decade Getting caught up in some of the the spot craze and you know some of the speculative investing Things that quite frankly I'm still kind of paying for a little bit or kind of looking to you know phase away from that You know it just speaks to the the temptation and I'm that type of youtuber to actually Embrace those mistakes and actually convey those mistakes those that I deem mistakes and Admit to not being immune to in the investing arena. That's for sure And I often state that you know with all the mistakes I've made it's still pretty amazing for us to be You know staring down the milestones that we we are staring down a lot of different pockets of Areas of the financial life that are working and the professional life that help kind of speak to that end and You know, it's interesting how how areas are percolating when I'm not focused on them And then there's other areas that I focus on that just aren't doing a whole lot You know the speculative market is really just surprising to me in that I've Really talked about how volatile the speculative market can be You can make some money get a little appreciation here and there But for the most part it's been really dead and it was there was an interesting Article or actually a newsletter directly from the CEO of Mullen Automotive that I really enjoyed reading Discussing, you know the disconnect between what he perceived to be value in the company and The onslaught of attack in the open market now. I don't know if any of these Claims are true, but I tell you it seemed to me to pretty be a pretty sincere letter Interesting enough the stock shot up 68% in a day. I don't know what the stock and I don't cover Mullen Enough to report out on it. I know some folks in the group have actually asked me to comment on it I know they're in the EV space, but You know it kind of an interesting what I took to be a cry for help for a stock that had recessed below the 50 cent level And not to speak to some of the other names that I've watched some mark progress on and not really receive any favor in the market It's been interesting You know, I look at it diplomatically You know, I could choose not to invest and there's always that option I choose to become a participant financial markets and You know, I'm always actually very fascinated by You know the ebbs and flows of financial markets and The opportunity again that's made possible through financial markets, you know the percolation and in areas and Pockets and facets of my financial application and I I know that's going on for you guys too The reason I share that is it's just part of the game And as independent investors we really have to they always can continually evaluate what works I continually remain steadfast on those initiatives that we know do work Over the long term and and and in all fairness to myself not to just completely beat myself up For the entertainment of a social media audience It's there's been some pockets of real brightness Especially through the channel with some of the opportunities that we've received To to make a little bit on the side through the project and that's been really really nice Some of the other projects that I've done in the past some affiliate marketing Some of the things with the website one of the most proudest projects that I've ever done and then podcasting I've really just turned out not to be quite as lucrative As a matter of fact, just kind of dried up all together Which I think is kind of a sign of the current phase that we're in I you know, I I always contend that I would do this project no matter what It's a topic that I'm really really fascinated on I'm watching the new HBO series hit Netflix actually with Dwayne Rock Johnson Called ballers. I'm just like man alive. What would it be like to spend money like that, you know? I'm pretty conservative in my application. That's for sure You know, there's a few things that I like to justify things that I buy for work and You know things that I buy in some of the hobbies that I carry out but nothing crazy, but it certainly does Play into my idea that I have for a long time separated from my surplus Cash in other words for a lot of you guys out there that have worked over the course of your lives To earn a good living and to have a good set of security set aside in way of some some some capital Capital savings, you know for us that Are happy in our lives and and happy with the you know, the many things that we do value We can kind of separate from our money and by doing so it actually allows that money to fortify on its own And I find that one of the greatest secrets that I can share with individuals is that the more you can Psychologically embrace that separation from your money and not be dominated by it The more money you will ironically end up making And and it's a very very powerful thing To look at your financial Status As just that There's been many many times I think over the last three or four weeks at least since august has started that I can remember one modest up day and one Day today, which was up pretty handily The rest of the time I I think um And in all fairness, there's probably a couple more green days in there But for the most part it's been pretty pretty atrocious this august for me And I think the s&p is off four or five percent anyway, which is which is okay Certainly a lot easier to take those lumps when we're investing passively in the markets But some of the speculative investing to to continue to pay for those And to pay for them in in the fashion that I have especially along some of the Phenomenal micro cap stocks that I cover, you know, I'm I'm going to name five of them for you at the top of the live stream within the first 10 minutes And it's going to be really really fun to kind of set baselines in these stocks here Really monitor the landscape and and and really see where these spaces goes now There's some thematic investing that are attached to these spaces. I still think that The ev space is very fascinating I think that the plastic recycling if not directly related to Combating the the effects over this world that we live in and trying to take steps now to clean up or or or maybe even curb the I'm not even going to say that we've caused damage, right? I have my own personal beliefs But there's a lot of people very very politically charged on this My opinion is a lot simpler than that and and aimed at being a political right down the line as I typically do So as to keep our eye on the prize and not Promote us taking allegiance with either blue or red Um, I I think that's a futile escape from thinking in most cases to be honest with you But plastic recycling I think is one of those At least within the next 10 years and probably some huge global initiatives to help curb the effects that are made by The plastic waste that is ending up unfortunately in our landfills and When that opportunity was brought my way There was a lot of education that went into my awareness piece and It really does speak to my conviction on this opportunity now. Is it going to play out tomorrow? Yeah, I'm not sure this this micro cap space that's got me fascinated The s&p 500 bores me. Okay, and that's wonderful because I'll make a ton of money off of being bored, right? And I I think for for for some of us guys here that you know Invest and enjoy the craft of investing. I I do think there's an element of of challenge To engaging in something a little bit more Than just passive investing albeit super super important And for the vast majority out there consumed if not in its entirety Bio 401k or just a passive total market ETF or index fund to to to helps satisfy that Tried in true principle and investing Whether it be done passively for for me I'm fascinated and it's not so much the fascination of looking at it and enjoying losing money It's not really about that It's really about looking at the fundamentals of the company irrespective of um In some cases the the token investment that I have in each of those and voxster being one of the most Fascinating that I don't share through the channel because there's an a a colleague of mine through youtube That actually shares that story and and kind of owns that story as far as sharing it But I am a stock owner in voxter and I think the story is fascinating with Digitizing the real estate space and in all that is deficient about real estate transactions and You know, I just talked to a realtor just today about a foreclosure that's Come available here on statin island and it was a funny conversation. It really was You know any more dealing with a real estate that comes on the open market has been so picked over And dealing in the foreclosure market, you know We we both estimated that this property that's starting out at about five fifty on the public forum for auction Is probably going to go for about nine fifty. I think somebody will probably pick it up for eight and a quarter cash And the property needs probably six figures of work to go into it, right? So, you know where there were opportunities in the past I think in in more of a normalized market any more if you get this thing wrong You're you're ending up holding a note that is going to cost you Well triple What it did just two short years ago. So just fascinating times So the small cap market certainly has my attention. The real estate has my attention for all the wrong reasons That's for sure. This is not sustainable in my opinion The talking heads and the real estate and mortgage business would suggest that somehow we've redefined The the home to be more of a sanctuary to the tune that every house should be worth a million dollars in this country I beg to differ and if that's the euphoric idea That will settle in in this country Then I'll just buy a hundred acres when I retire and I'll I'll move abroad which quite frankly That is absolutely alive and well in the cards for for yours truly On the independent investor channel. There's no problem with that. I'll take my pension abroad I've no problem with that because If I can speak bluntly these properties are not worth it They are just not worth it And the amount of overhead that needs to be carried by new mortgages now for the folks that got in or are in currently enjoy it because You know, you really are holding an absolute jewel of an investment if you were able to get in during the recessed mortgage rate time period I'm going to go back. I just saw one of my good one of my favorite videos And I've only seen it once the big short just hit netflix if you guys haven't seen that I highly recommend catching that it is just an absolutely phenomenal piece of content explaining the over leverage and the lending frenzy that was going on In this country and here we are just 10 years removed of of such a debacle Where the allure of real estate is just too powerful To not almost be recreating the same situation I have never heard that there is a bubble going on in real estate right now But I find it ironic how we can't suggest that somehow that these interest rates and the and the current levels that we sit out right now Is curbing buying we know that as a fact And it is also curbing selling the market has just come to really a halt All together So it's it's interesting times. Good to see you matt. Thanks for stopping in brother. I really appreciate it Very cool And dave's in the in the group here man all all the best wishes to you my friend I I hope all is well for you. I really do I hope you and your family are are all right I I know you're not on Maui However Too close for comfort as far as I'm concerned when I have family and friends over there dealing with what What what has been just an absolute tragedy In paradise. There's no doubt about it. So thank you for coming in my friend. I really appreciate it and it's great to see you Nice I found a couple moments to step away from my studies You guys understood After 18 years of culmination in my career. I'm actually trying to do Work a magic act here in my profession and I've never been so motivated to do so, you know, if there's Anything that can come out of listening to my message it is to Look at the bright side in all cases and the last three years has done nothing but dole out some pain Not necessarily in specific holdings, but really across the board. It's just been kind of a drag With the market, uh, and I'm not going to put my whiskey sour you betcha Changed my train of thought my friend but um You know, I'm not going to cry about spilt milk Certainly just want to give you guys a pulse of how I'm feeling about the market now and You know the s and p you know stroking up 20 percent quickly at the first of this year You know in the face are coming off of a year in 2022 that saw the markets down just shy of 20 percent You know, I'm statistically guys. That's a wash. Is it worth getting all excited about and You know devoting new capital to markets at these elevated levels with the systemic issues that we have going on The one that nobody talks about uh, nicky hayley did the best job of addressing The fact that republicans voted for what an eight trillion dollar increase Uh earmarks in the last budget bill democrats asked for 2.5 trillion something like that It just made me kind of cringe and understanding that I think both of the political parties have pretty much lost their freaking marvels Both of them. Um, they're completely and utterly disconnected from the common folk Completely and utterly disconnected from representing the people that they serve certainly And completely and utterly disconnected from all reality. Um, I'd love to pick somebody out of the panel. That's just completely new Um, it completely new. I I don't want any established anyone in there I I'd like to have some fresh ideas To get in here and and look at what I think is the most systemic risk to our markets And that is the national debt My friends mark my word. Um, I pride myself on having independent thought I charge you with doing the same But the debt that we have in this country is unsustainable It puts people in a huge huge corner Especially folks like me who are capital intensive with You know investments and and and cash and and some alternative investments certainly, but You know, I'm I'm not going to get to eat my guns and ammo. All right someday I'm not going to get to eat my gold and silver I'm not going to get to do that But at the same token, I'm probably not going to get to eat my my my my paper either And with the fact that you know, the devalument of our currency is happening is at such an alarming rate It certainly does fascinate me in the dynamic and complex environment that we see ourselves in Here in 2023, where do we go from here? Right? You guys wonder why I've got such an interest in Kind of more of a speculative stab here as small as it might be reflective of the total overall portfolio There's a method to my madness I I've always contended that investing is more Of a necessity as opposed to a right or or or a luxury which which I think it's all of the above But for me You know, I I'm in kind of a paper race chase to kind of proceed out of this middle class because I don't want to be in a class That is quickly deteriorating to a point where I consider in 10 to 20 years Will be non-existent in this country And we are moving in that direction whether or not you like it or not Whether or not you want to disagree with me or not There's going to be hardcore conservative republicans out there that that disagree And and there's going to be hardcore liberal democrats out there that also disagree with me and and they would just suggest that You know their agenda is winning out and and it's not The middle class disappearing in this country Is a sad sad thing and that's exactly what's going on The haves and the have nots is what we have in this country And just as early as this week, I mean we had proposals for some of those have nots, you know My heart goes out to those people But to have those folks moved right into where I live right here in new york To to to live To enjoy free benefits up and down the road And I say free tongue and cheek because we can all understand that those things are very very expensive to support support those types of things And I'm being a very very above board with my dialogue. I have to be I can't get on here and start yelling and screaming about my political affiliation But um, these are the types of things that are going on right now In this country and they are alive and well Hello from uh, kalua hawaii. I can't buy here renting 1,300 square for the low price of 48 Good lord, brother. That's more expensive than new york city. Holy moly My bh here runs about 3800 Boy, I don't know at your rate and rank it probably be about 4500 But Yeah, that's insane. I used to remember a day david and I'm sure you could agree with me where We would look at 4800 dollars and say man, it'd be sure be awesome if I could earn that per month That's just what you're paying in rent Boy, how times have changed. Isn't that crazy? Very cool stuff, man Because how many questions for me, man, leave them in the in the in the group here Like I said, um, I was a little bit reserved and actually doing the live stream But I found it important And in line with my duties to touch base with the community. This is uh, really important to me I hope you guys appreciate it. I I um, I really do. I enjoy the project But you know, the live stream has just been teetering off a little bit from week to week and And certainly even I have my breaking points to to to whether or not the project is even worth it or not Whether or not we are making an impact Whether or not the investing topic is even one that Needs to be discussed or people want to discuss or You know, am I am I trying to bridge too big of a gap for people in in understanding that in some countries? the Financial discussion stays within the household I'm just not one of those in my application Understand why that's necessary. I think we can share different ideas I think we can share different disciplines different ways of of tackling this monster that is all too often Allusive to people who do not participate And all too often very very cruel to those people who participate Incorrectly and I share some of those surface level Cruelties with you guys as far as my own personal involvement with the market But I can kind of do that a little bit tongue-in-cheeks because I've been doing this a long long time Chris good to see you my friend. Been a little while anyway. It's good to see you Very cool. Hope all is well with you and I'm real nice to see you man Thanks for popping in and saying hello really appreciate that man very cool stuff and every clear boy is next on the ledger Very cool. Hi Ryan. Hope all is well all is well Nothing but challenges doled out here in new york city for you guys that kind of don't understand the current state of things with ryan and the independent investor channel and the grander ryan household We've got about four years left here in new york city and it will be A proud day when we do actually pull chocks. I'm giving myself this time To solidify everything that i've been working for and here in new york. It's kind of the big show For what I do with my profession and it's a wonderful opportunity for me To to do what it is that I need to do and to continue to do I have plans to To continue out and really finish this career strong. I absolutely love doing it I would stay at work and just continue to work. I I chalk things up about 330 every day, but I would just stay at work until five six seven eight at night because I love the job so much I love the knowledge piece. I love the twist and dynamic Application it's across the board In what I do. It's really really a lot of fun and The real takeaway and why I share that for you guys is number one It's been a huge contributor to my overall financial health and what well-being If you can enjoy doing your job, it's it's even more good. Okay Um But to find a job that you actually really enjoy can can kind of help take your mind away from the program That we all call our financial health um in looking to to build wealth and I guess it depends on How much rigor and how much attention you put on to building your number Because at the end of the day, that's kind of what we're what we're talking about and I try not to put a whole hell of a lot of value on You know, okay, if you you've got 1.7 million or you've got, you know, 70,000 or you've got 7,000 I I don't I don't really put a whole lot of value on on that number as a reflex to you as an individual I just put a value on that in so far as the number. That's it This is a wealth building channel. Okay I expect people to look at their number and try to revolve around that number and grow that number over time In its simplistic terms That is what we're after here. Okay, and a lot of people Don't really separate or differentiate between what they bring to the table as individuals And what they bring to the table as far as Building potential for themselves Mm-hmm. And I think if you prove to yourself that you can do it and build and build your numbers I actually think you'll find that it's a hell of a lot easier than What a lot of people would have you believe or you would have Believed for a long long time yourselves. Okay The amazing part for me, man Is the more that I separate from my money the easier it is to make the less I focus on my money as far as just Having the program set and understanding the fundamentals of why I do what I do And thinking about that stuff less the better off that I do both mentally physically The dietary spiritually it all Kind of goes round and round when you're took it when you're looking at making sense of of this thing Especially in the face of the last three years being somewhat somewhat neutral in my book as far as an investing thing goes I don't Really cover the landscape in youtube. I'm not really that interested in what other projects are doing And I would imagine that the pulse out there in the investing community is is somewhat the same Now if we get a little bit of of of reinvigorated activity Let's say in the small cap space we get a little bit of movement in some of these companies I mean parcel pal for example is a company that I I do cover it just traded lower than a fractional scent One penny you can own Shares in a company guys. I walked by a shiny copper penny today on the ground and I continued to walk by it right That's the That's the value That we put on companies like this anymore where we've just really discredited them in this particular company How's about a market cap of about four four million cad about two and a half three million us It earns about 14 million per quarter and I expect that this quarter is going to be One of the best quarters ever. I expect continued margin expansion close to 18 percent this time around And I expect them to announce cash flow positive in year at us operations I look at fundamentals like that and What what we can glean Is the manipulation behind the seams who took large swaths of these These companies and they can't get out from behind the shadow about one point being a pump and dump right at one point they were Terrible and trying to shake off that funk is is continually having its overhang And and it'll be interesting to see if ever this company can continue to raise capital To keep expenditures low To improve the technology within the fleet And continue to win business amongst some of the who's who in logistics starting with amazon Right smack at the top good rx And cisco to just name a few Is the company worth less than a penny? Yeah, I mean, I don't know that's for you to determine You know, is it is it just as prudent to look at a company like j and j or a company like disney? What a fantastic example of a complete debacle and unwinding over the last five years Why because they've become politicians And not business operators, right? I for one personally have very little if any interest in going and visiting any of the disney properties and That's just me If you have small children, you probably feel differently The last time I went It was an absolute cluster and it was more work than anything Um, and I would rather go somewhere else. I would rather go to europe I would rather go somewhere else with my time. I'd rather go to the caribbean I'd rather go somewhere even crazier. I could name you 12 Dozen different places that I would rather go They're kind of crazy, you know japan Right, some of those places new zealand australia Some of those places. How about england? Yeah, spain I'd like to go to portugal for crying out loud Um, again, you know, I share these things through social media and you might just say yeah, sure ryan. You're just talking it up Um, there's pockets of investors that i'm talking about that say portugals where it's at Think i'm kidding Look at the cost of living look at the beaches And then I look at long island here at the brown water that people are paying multi millions for and I have to ask Why just doesn't make any sense to me, right? So all all things to deliberate around that's for sure really appreciate you guys stopping by yes, indeed It is a whiskey sour and i'm glad to be enjoying it with you guys winding down my week with a nice cherry on top We call it the fastest 60 minutes on youtube you back with you in just a moment This portugal is not 100 stable I know I agree, you know, you see some of the financial debacles grease Um, one of them as well and and you're right. You are right about portugal. Um, the thing about it is I don't need a whole lot to be happy and you know, what's cool about about my situation. I'm very very blessed Ricky I really am and that I have the freedom to go anywhere and take my pension anywhere, right? Um, and and I say this from firsthand experience I I go to my wife's home country of jack republic and I'm an I'm a king. Okay I'm I I go to the feed bank here in in new york okay Right, so compare and contrast between those two statements. I'm not blowing smoke at a social media. I'm telling the truth Um, I there's so much truth that I have it's so much more interesting than just fabricating a story And sharing it through youtube, but I go to the check republic Still have not adopted the euro as you well know Um, I still on the corona and I'm a king Minus the crown and the moat, but you get my point Mm-hmm Take 12 people out to dinner No problem three bucks a plate. I'm good. Yeah, I can pick up the tab. I'm good Yeah gas a very expensive certain taxes in europe are Pretty crazy But for the most part if if I could break through and I found some pockets of breakthrough on real estate I just was over at some friends of mine In the check republic just a month ago and they built a beautiful house beautiful be absolutely beautiful Vaulted ceilings brand new tile Absolutely beautiful house on a nice piece of property for 300 000 now 20 years ago I would have said wow that's expensive, but any more I don't I don't know right I only mentioned that tongue-in-cheek because I would suggest look okay If if portugal's going crazy, then I would just go next door You know I'd go next door to spain or france or or or anywhere else quite frankly I I could certainly end up in northern italy I could certainly end up in croatia Which I found to be one of the most attractive places that I saw when I was over there From an energy perspective energy just just the feeling that you get, you know But it's certainly worth kind of pushing those ideas out there and and if you don't think that i'm the only one I'm really just kind of fed up um with the misallocation of Of of money in this country and and people are going to have their different ideas about that. They're going to say No, no the country's fine. It's it's certainly okay that we That we pay what more in interest per year than Some crazy crazy budgets for like healthcare and something else combined. It's just insane The amount that we give away But um, yeah appreciate your your comment. It's I don't think there's any place in the world that can boast that except for But I don't know norway They seem to have their stuff together england australia Right Yeah, I don't know, you know, it's interesting times. It's fun to deliberate around these conversations and you know And it just it makes me think What really is going to put me in the driver's seat to Open up the decision bank as opposed to close it off I would still contend that that is capital that is capital now without security I don't care to have capital Without food and sustenance and basic necessities ie a place to live things like that Then capital doesn't matter With the erosion and value of capital, it's going to be less and less valuable To have capital in and of itself, right? So things to think about when you're looking to kind of accelerate this opportunity going forward And and that is really why i'm so steadfast and Really kind of pressing an aggressive button right now when I don't think a lot of people are pressing that aggressive button I just don't I just don't think that it's um I just don't think that it's it's a very exploited area of the market right now Everybody's fallen all over themselves to buy nvidia 250 times forward earnings and or 280 Whatever they want to do and that and that's that's great. I own a few hundred bucks in nvidia. I'm fine with that I I don't foresee myself falling all over myself to put my entire net worth in nvidia I find much more value in in buying shares of highly on at these recess levels and Maybe even looking at a duro Which i'm in a film this weekend and turn out a video on a duro It's been a little minute here. We've just gone full circle the last 12 months with the duro Not to have moved at all and I think that's absurd They are turning out revenue With their bitumen upgrading. They are a three tier three Three portfolio skew product offerer And and their prospects at 45 million right now Market cap is is just absolutely astounding They've been very very silent in their uh shell game changer program Which we know that they're involved with but by nature of many many interviews from ofer When he's discussed, you know their obligation to shell through the game changer program Not to share any information But are you suggesting that that stuff is not going on? I I beg to differ in for just a kind of a An ability, you know the analogy that you're out in the forest and you walk around and you wander and you You think you're wandering in one direction and you end up six hours later in the same spot that you you started We've just done that with the duro full circle around to the starting place Here at about 66 67 cents now i've got some Some shares as declared on those videos In the in the 62 cent range or so, but um, you know holding true and Is is the story going to pan out? I I don't really know does it have potential to pan out? Sure has it no Will it be interesting if it does?  Some would say dangerous I had somebody say come and comment you just threw money You just committed the cardinal sin ryan you threw money at a losing proposition I think that's the retail way Of talking themselves out of a position that they potentially never should have been in in the first place.  They're they're holding their shares fine Um, why am I any different in my application than the institutions who choose to hold a highly on holdings? As opposed to make up stuff as far as me not being eligible to bottom fish this the stock Which is exactly what i'm doing Bottom fish the company At these recessed levels what I feel is recessed um and not buy into these cliches of committing a cardinal sin of Buying calculative positions. I'm not going whole hog. I'm buying calculative positions. Do I have enough to buy? Quadruple what I bought you bet I do. Yes, I do I save I invest This is what I do And to be in this position it just kind of speaks to my You know my conviction and Understanding that after three years the body of work that's been put in doesn't go for not I'm still sitting on what I'm sitting on nothing has been lost Um, you know, the share price has the ability to recess and value Um, could it go to 50 cents? Yeah, could it go to five dollars? Yeah, does it change my current? Outlook on the company at 50 cents or five dollars not in the least not in the least I'm invested in the company long term Thomas Healy within the last couple of weeks suggested that their goal for the company within the next five years Is to be a tier one supplier to an oem if they're a tier one supplier to an oem We're talking about a $50 stock. It's just that simple We're talking about a $50 stock and I'll come on and I'll talk to you just as calmly as I am now revolving around the idea of going to 50 cents or five dollars And and and and reporting out that the company's trading for 50 bucks a share There'll be euphoria the marketplace and there'll be neon green ooze coming out of wall street just like ghost busters for That was pretty good You know people be falling all over themselves to eat the slime Mm-hmm ghost busters No, just calmly come on with my 30 patrons in the live stream and calmly report out that it's materialized into 2.7 million bucks. And and then what do we do? Seeing I can see clearly now the rain is coming. I I don't know I don't Yeah Just stock market investing when I truly talk about it being separate from your life I do truly mean that I'm investing in the opportunity I'm not looking at you know a stock because it's down and and I'm I'm trying to bottom fish or You know adhere to a golden cardinal rule of throwing good money at bad or Whatever the hell that means Pick me an alternative By vt My friend strongman personal finance is still at it. That's for sure It's awesome. So Any of the critics can kick me if they'd like while I'm down. That's totally fine When and if the potential of the company if not it goes away. I'm fine If the company realizes a little bit of return on value down the line, I'm going to compare it to vt Yeah, when we've got the potential of hundreds of percent return If not thousands of percent return and wonder why I've been able to now take that profit and leverage it into other areas because I I think that something inevitable is going to happen here. I I don't really think that We can just continue along this trajectory and just expect that the sfb is going to be at 25 000 and The dow is going to be at 75 000 or 100 000 As as quickly as we might put it on a trajectory to I'm not really sure I I think a little bit more sense of urgency if your sense of urgency is to contribute more Lovely do it to your program. That's fantastic Larry says that strongman is big on vt. I I know he is larry that that's that's why I brought it up If you if you look at vt vt's got I think 10 000 names in it And every one of those 10 000 stocks that represent the global market and economy Are all phenomenal blue chip companies that you should invest your money in If you want to make a guaranteed 6.5 percent over the course of your lifetime over your money You can do that with vt. No doubt about it. There's no doubt about it If you want to lose money over the short term with the independent investor channel for no hope for the future When nobody else was doing it You can join my message and lose money, right? And I'll remember that I said that Down the line whether it be six months 12 months, and we'll see who wins in the end. We will see Okay, I pay way too much attention to financial markets to not understand the risk reward profile over my money I already invest passively in total markets and I do so in domestic markets Not necessarily international markets albeit. I do have an index fund that does represent Global markets, but for the most part I enjoy investing in the regulatory oversight that does intertwine with our markets here In the u.s. And it's significantly much more attractive for me to do those investments the way I do Mostly catered toward the u.s. Markets. So That's why I prefer the s and p 500 a little bit more specified in the large cap Domestic stock market here And we own large positions in there. We really do so we're happy. I'm happy to do so To get reptile Daniel in the house says aduro is a long-term old love the company There's nothing not to like about the company You know probably put a projection of 2027 that's based on the information that they have presented to investors through their Through their website that of which I expect a revamping of the website Here shortly they're making strides all over the place and I just cannot fault the The outreach aduro does a really really good job for such a small company in their outreach I am part of that outreach and and for me. I enjoy sharing the company Just because I believe wholeheartedly in the company. I have looked up and down left and right at pure cycle and I It's it'll be cool to see it work because I really think the plastic problem is so so grand That these companies are probably going to find their niche unless they've really missed something with regard to the input and output cost as it As it reflects or relates to The input feedstock and the output product that they're getting out of the the the process Right, unless they've totally just miscalculated on that. I think they're going to find a place I've seen their product. I have seen aduro's product albeit not so much um in the public limelight because aduro sports a little bit more dynamic input changes to Augment or change a desired outcome with their process Whereas pure cycle what I have seen from them is the the clear pellet the odorless pellet That they're able to produce and then reintroduce As fresh feedstock for new plastics and I just think it's wonderful. I hope all of the companies make it I think ofer vicus would share in that sentiment in that You know, there's so few companies out there working on this initiative and and it's such a huge huge problem That the the the amount of runway that aduro has is almost so scary It's almost unbelievable and that's what's happening right now in the eyes of the market. They they are not Gaining any favor because it's kind of I can't I'm sure just another just another story and a lot of these stories are Prove it story still I totally get it But sarah's in the group sarah's been with the independent investor channel for a long long time Greetings to you in the northwest. It's great to have you back on the channel here My co-worker moved to portugal for the healthcare interesting He was working every day to get crappy here with killer for his wife in the u.s. And they're much happier now Yeah, so I didn't even mention healthcare That's very real um I don't know. I I just think sometimes americans suffer from being really naive And not having their eyes open to the reality of what's going on around them every day And i'm not saying that the political affiliation drives that naiveness albeit I do believe that sometimes people are Really really stuck in their ways. I I have family members that I won't engage in certain conversation with For fear of entering into a slippery slope You know, especially over cocktails. That's the recipe for disaster But but but why not? You know, why why is it that certain conversations are faux pas? And and others are fair game. I just I and to be honest with you me personally. I just don't care But there's a real life tutorial of somebody who is not going to be in the same situation as me and You know, I've disclosed many many times on the channel. My wife is from abroad, right? And in her country she gets taken care of free of charge for the rest of her life period And now that's a socialist country and i'm not suggesting that that's the way the truth and the light But that's just the way it is and some people here will pay thousands and thousands of dollars a month in premiums To support what your friend did by nature of just relocating abroad and what you didn't mention sarah Is the fact that their food is phenomenal Yeah, yeah, no, it's a really cool story man.  It's funny No sinkhole where he's the only sinkhole that i've ever been involved with my friend was in orlando Which is a stone's throw away from your backyard. It's great to have you back man I hope all is well with you and the family. It was nice to see you Chat back into the group. So welcome back. I really appreciate you. He says no no spain I don't know. I just throw it out there as an example to understand that I don't know some of the most underappreciated places even here in the united states quite frankly, I mean Hell with the money that is being garnered in suburbia america I could probably go and buy half of south dakota with my net worth now But in new york i'm just a small fry to shakes away from being thrown out of my front door For failure to be able to pay the mortgage Mm-hmm. Yeah I'm just kidding about half of south dakota. He can laugh a little bit. It's okay Um, maybe the lower corner of south dakota. I could probably pick up 300 or 400 acres with no problem Go hang out with some buffalo Exercise some mineral rights Right exercise some mineral rights Well, I promised you guys I'd go 30 minutes, man. I'm going to make it the full 60 I'm really surprised it was telling my folks tonight. I have no idea what I'm going to say I usually just sit back and watch myself talk And I've done a pretty good job of of entertaining myself this evening So hopefully you guys have got a little bit of entertainment out of the deal too I'm a pretty modest modest fella. Hope you guys see the sincerity I think there's a few attributes about my channel that I hope are conveyed That's the most important thing if you and I do Double down on you can leave the channel a little bit more inspired a little bit more empowered A little less fearful of financial markets a little bit more confident in your own ability to Independently invest financial markets Then I think that's probably one of the reasons why I would agree with you I believe I am one of the best no doubt about it now Will solidify my place if I my conviction is right I've been steadfast this entire time that I could be wrong on this I've took taken a lot of heat of by this Maneuver that I'm making this lateral movement I'm biting my time I'm picking my spots And I am slowly building a potential That of which could materialize It may not But if it does It will certainly solidify my place as one of the best channels out there Irrespective of how many subscribers I have on the channel. There's no doubt about it And I'll earn that back one at a time Continue to be steadfast on the message You know if I come on with a spider-man mask And a beanie You guys can Knowledge check me And start throwing hate at the channel. You can certainly do that if I end up selling out like that Sometimes I think it'd be fun to have a an alter ego like mr. Green. I think that's who I would be Pay homage to one of my favorite movies reservoir dogs So you guys could come in and be like, hey, man Why why why do I have to be mr. Pink or mr. Gold or or mr. Orange and you know, mr White has a cool name already But you can give me heat for being mr. Green, right? And I think that'd be kind of fun Take on a little bit of an alter ego on youtube. I think that'd be pretty cool rides the best investor um I'm not really sure if that exists uh You know for those of you and you've been with me since the beginning of time jared You were one of the very first subscribers to the channel and I just appreciate your You know your commitment to the project and what i'm trying to do I've always contended that the subscribers are part of the project Just as much as part of the project as I am You know The portfolio and the and the money piece that just is what it is But I'm more interested in personalities to be honest with you, but um There's no best investor out there that is immune to mistakes in the market I think the fascinating thing about financial markets is for example, if I go to los vegas and I play You know a hand a blackjack There's a Let's say a 50 50 chance, okay That i'm gonna have a catastrophic loss of my money or a catastrophic gain of 100 percent of my money, right? In one hand, I can play one hand of blackjack in less than 60 seconds, right the difference between Investing is that let's just take my hundred dividend stock portfolio. For example That's a hundred hands of blackjack that i'm playing all the time All the time 24 hours a day five days a week, right when the market opens when the market closes I get a little stipend. You know how when you pull a blackjack They put like a half dollar on top of your winnings or a silver dollar on top of your winnings That to me is the dividends that are being paid out of each of those 99 hands of blackjack that Quite frankly, if I looked at the dividend portfolio, I'd be in area To suggest that probably less than 10 percent of that portfolio is in the red right now After a couple of short years there have been ebbs and flows when the market was doing really well It was some kicking some ass across the board But here it's just been recessed a little bit with the grander market But overall couldn't be happier, right now those types of wins there are are are intriguing. Those are fascinating but As far as some of the perceived mistakes on youtube, right you look at it here in 2023 and you say Gosh ryan's fell falling off his rocker, right? He's doing this and that and this and that I I think the deeper understanding is to try to Understand why i'm doing what i'm doing and and why i'm eligible to be doing what i'm doing And what factors are influencing my decisions right now To invest in a pocket in the market where I don't think there's a lot of attention Well, there's not a lot of attention there ryan because nobody wants to touch it Right on that's the very arena that i'm interested in Right and and those types of things probably separate my philosophy on youtube because I don't think that everybody that get in gets involved with investing wins. I don't I would go so far as to suggest that a lot of people who have ego problems And don't have the right pedigree in their application Get involved with investing and they really hurt themselves. They really do Now there are defensive mechanisms and strategies to put in place to avoid those missteps in investing There truly are if you invest in the s&p You can go on about your life and be happy that you did that the rest of your life You can deal with downturns. You can deal with upticks in the market your whole life I believe that anybody can establish that baseline and investing and enjoy investing What I am trying to do is Find a strategic edge Will that hurt me? I don't know in the end But that strategic opportunity that i'm trying to seek Fits well with my situation It may not fit well with the masses out there that consume the message And I think that's something to be taken away that investing has to fit each individual profile And i'm steadfast in trying to promote that idea And and really kind of demonstrate the power of investing And and and also kind of talk through The evolution of an of investing as I go through the process, right? So, you know Maybe that's what makes me the best in that some of the areas I can point to and say I mean work you can ask over here, right? We want to see good strong results Wouldn't be interesting at all if we weren't garnering any types of you know Results or any of that type of thing And it's it's just yet to be seen. But if you look at it in the acute There's been never a time over my 25 years that I don't look at my portfolio And I look at it and I say Man alive. We're just absolutely firing away. We're in six years You know, we're we're absolutely crushing it. We're absolutely killing it I very rarely do that And and and and then when I step back and I say, okay Well, I go back five years and I say well, where were we then? Where are we now? Right? We were at a quarter million then we're at a half a million now, right? And so it kind of puts some perspective on the day to day grind and and really over emphasizing You know the attention that you put on in the markets and your portfolio from day to day because It just hasn't proven out to be super valuable for me to look at the portfolio At anyone given day like a position in highly on to look at it at anyone given day and say This is absolutely crushing or this is absolutely horrible. I don't look at it in those extremes I just look at it as an investment marching toward an inevitable milestone toward the end of 2023. That's it I mean, I hate to just simplify it that way. But james says I'd say you have an ego problem That's why you just keep averaging down your position instead of having your losses. I'm not that's that's totally fair And you're entitled to your opinion. Absolutely and if you would suggest that somehow it's ego or confidence in You know, kind of where I am you kind of have to understand too that This opportunity to engage in this line of investing has been built up for many many years, right? And at the end of the day, it's my evaluation of those learnings over that time To evolve to a place in time where I look at a lot of companies james. I look at a lot of companies and I choose not to invest Okay, first of all second of all When I look at the company's evolution from when it started to where it is now I I see nothing but progress now. I can choose to change the narrative in either way and say No, there's not progress. There's not this and there's not that and there's not this Because the story hasn't involved evolved the way that it was projected to evolve in 2020 and here we are in 2023 So I could say okay over the last three years There's all the reason as you would suggest a cut ties, right? But I look at the marked progress in the company and I think we're a long way away from even having An educated decision on this company You know, we've got certification that's looming and and inevitable. I think they'll get it You know, we've got the integration with the oems in the way that has been disclosed We have stationary power in 2024. I I don't I don't see any reason to to cut cut losses That that doesn't mean anything Drawing down my average right now to three or four bucks makes all the sense in the world So you can call it what you will as far as confidence in financial markets. Absolutely 100 And by not cutting losses I remain in the pocket to still continue to give my myself a chance And monitor the evolution of the company. I think it'd be fun to cut losses to be honest with you Just walk away and give myself what some peace of mind Right that peace of mind will feel really really good The first five minutes I do it and it'll feel really really good the first hour That I have just cut losses But as time goes along and I continue to monitor the story now having cut ties with the company that I Had conviction on and watched evolve over time that Relief will actually turn into regret And the regret part comes from actually having a story that you have conviction on That you just mistimed and it actually materializes over time the way that you see it, right? Is that going to happen? Yeah, I don't know to your point Maybe the ego is going to drive me to zero, right? And I'll be out on the street trying to eat grass to feed myself, right? I've worked very very very hard to make sure that those preliminary baseline needs Are met and then some And so to define my eligibility to engage in speculative investing is fairly shallow on your part, right? In truly understanding what nobody understands about my eligibility to engage in this And any other financial decision that I make right through social media, right? I do appreciate your comment, but certainly wanted to give a a slight response back, man. Very cool stuff Uh, very cool stuff. I got one last comment here and that'll be it for the live stream this Friday. Very cool One of the coolest, uh thumbnails. I've seen that's pretty cool rainwater games, right? Sorry to sympathize so much But what exactly is the holdup voting as contracts like? For like seven years of work. I can highly and similarly presale and sign deals. Why are we waiting? We being them I believe that the industry Has hesitation across the board furthermore What benefits companies from ordering a product that's not commercially approved? I think that's the holdup to answer your question And you know, you could sell now based on that premise, but I think it would be a premature move to do that That's my thesis. That's not my thesis for you. That's my thesis for me In that that would be premature to do that It knows so some people seem to be really really bothered by it. I'm not bothered a bit I'm not bothered one bit And if this is problematic for you or anybody else, not you Specifically your your question is a genuine one But I think for people who have engaged in this who are now second guessing the fact that it didn't like show Um where the pot of gold at the end of the rainbow was within a fine amount of time Um, I don't have a lot of sympathy for you. I really don't My message on the channel is very very genuine in that You know sharing a story one that I feel like is Needed in the transportation space and one that will make A better environment Right just makes sense to me. In other words, I think the world is better off with the solution than without It's just that simple now whether or not whatever has transpired up to this point Proves to be feudal in nature and the company dissolves away. No problem There'll be a lot of people out there that are happy a lot of people that are not happy And the world will still continue to go around Right And I will still continue to do what it is that I do guys. We're over 60 minutes Really appreciate you guys will wrap it down. I appreciate you tuning in. It was very very cool Got to a lot of questions tonight. I appreciate the devote subscribers to the channel first and foremost I'd invite you to subscribe to the channel if you enjoy content like this If you enjoy coming and getting a response and a rise out of me You've got a friday opportunity to come and and and vent your frustration to me Rinse your frustration at me Vent your frustration at me for leading you astray in the wide world of financial savvy In the end, I think it'll all make sense to you guys and I will absolutely be there shepherding and marshaling This project along to that end guys I appreciate you tuning in for the past to 60 minutes on youtube And we will be back with you next week on the independent investor channel live stream. Be well guys. We'll catch you next week Thanks for watching


Ella, this is a video about conducting a test for independence calculating the degrees of freedom. You intend to conduct the test for independence for a contingency table with seven categories in the column variable and five categories in the row variable. You collect data from 1,112 subjects. What are the degrees of freedom of the test? For a test for independence, the degrees of freedom will always be number of rows minus one times number of columns minus one. Since there are seven column variables, that means the number of columns is seven, since there are five row variables, the number of rows or r is equal to five. So calculate five minus one times seven minus one. Calculate four times six, which gives you 24 degrees of freedom. So that's how to calculate degrees of freedom when you are conducting a test for independence.


Multiscale entropy, MSE, is a technique used to measure the complexity of a time series by calculating the entropy of the data across multiple temporal scales. It has been widely used in various fields such as biology, finance, and engineering. Over the years, several modifications have been made to improve the accuracy of the entropy estimate, including the use of different coarse-graining methods. Recently, a new version of MSE has been developed, which can be used to calculate higher moments than previously possible. This article was authored by N. Humoherdier.


of profit maximization and defend, they defend traditional business models against the disruptive force of the internet. Now what unites folks here is of course recognition that the world has truly changed. And that's no more than a reflection of the fact that the knowledge economy itself is built on inputs such as knowledge, such as data that don't share the same sort of basic underlying economics of the industrial economy. George Bernard Shaw once said, if you have an apple and I have an apple and we exchange those apples, then you and I will still have, we'll each have one apple. But if you and I, if you have an idea, I have an idea, when we exchange those ideas, then each of us are gonna have two ideas. And I think that's that really, really is what goes on in the internet world. So what does this mean in practice? Traditional business theory emphasizes the value of the closed system. Make something popular, then milk it. Milk it throughout its product life cycle.  But innovation in a closed system tends to be, as a result of all that, it tends to be incremental because the whole point is to sort of preserve the status quo because you don't wanna cannibalize what's going on. Open systems are exactly the opposite. They're competitive, far more dynamic. Your competitive advantage doesn't derive from locking in your customers in. On the other hand, companies are gaining advantage by understanding the fast moving system better than anybody else and then using the knowledge to develop better products and faster cycles. The successful company in an open system is a fast innovator and also a thought leader. So what do open systems and openness, what does it concretely mean? I'd say three things. Open source, open standards, and open networks. Open source is no longer this idyllic kind of niche fantasy thing. It's increasingly driving and being driven by big companies. You're gonna hear a lot more about that, I'm sure in a minute. Google is built on open source solutions. We use tens of millions of lines of open source code to run our products. And we try to give back, and we do okay with that. We're the, by some measures, the largest open source contributor in the world. We contribute, we're contributing over 800 projects that total over 20 million lines of code to the open source community. A few examples you're probably familiar with, Chrome, which is our increasingly popular internet browser completely open source. Another example, last month we introduced what information we called a $120 million gift to the open internet that came in the form of an open source patent.


Hello and welcome to the session. In this session we are going to discuss the following question which says that the graph shows the mean monthly temperature over a two year period in Melbourne city find the amplitude midline and period for the given graph. Now in this question we are given the graph showing average monthly temperature for two years we are given months on horizontal axis and temperature in degree Celsius on vertical axis and we need to find the amplitude midline and period for the given graph. Now let us start with the solution from the graph we can see that the temperature in January is higher then it starts decreasing and reaches the lowest point in July and then again starts increasing and after December the cycle repeats it means the cycle is of 12 months thus we say that period is of 12 months. Now we are going to find the midline for the given graph. Now we know that midline is the horizontal line drawn at the centre value of the function. It is that line about which the function oscillates above and below equally and we use a formula for finding the point from where midline is drawn and is given by midline is equal to maximum point plus minimum point whole upon two and here we see that the maximum temperature is in January that is 28 degrees Celsius and the minimum temperature is in July that is equal to 18 degrees Celsius so here maximum temperature is 28 degrees Celsius and minimum temperature is 18 degrees Celsius. So midline will be given by maximum point that is temperature at the maximum point which is equal to 28 plus minimum point that is temperature at the minimum point which is given by 18 whole upon 2 and this is equal to 28 plus 18 is 46 by 2 which is equal to 23 so we say that midline is drawn at y is equal to 23 that is at 23 degrees Celsius this is the required midline of the given graph which is given by y is equal to 23. Now we shall find the amplitude. We know that amplitude is the distance between the maximum height or the minimum height and the midline. Amplitude is given by the formula that is maximum point minus minimum point whole upon 2 as we know that the maximum temperature is given by 28 degrees Celsius and minimum temperature is given by 18 degrees Celsius here amplitude will be given by maximum point that is temperature at the maximum point that is 28 minus minimum point which is 18 whole upon 2 and this is equal to 28 minus 18 that is 10 by 2 which is equal to 5 so we say that the amplitude is equal to 5 that is the distance between the maximum point and the midline is 5 thus we can conclude that here for this graph period is of 12 months midline is at y is equal to 23 and amplitude is given by 5. This completes our session. Hope you enjoyed this session.