with my super computer and everything. A small trip to Miami to stay for two weeks ended up me staying there for two months and two weeks. And I really just had to get the hell out of there. I missed my friends. I missed my family. I missed not partying every single day. I just needed a break from it. I needed to relax from it. So I decided to come back home. I wasn't really feeling too hot last week so I decided to take the week off from trading. I know Bao, Tosh and the other guys are kind of covering for me and posting for me. But it feels good to be back in Jersey. It feels good to be back here. Right now is when the snow is ending and the temperatures are about like 50 degrees-ish so it's kind of getting a little bit warmer. Spent a lot of money in Miami and I don't want to spend all that money anymore. I want to kind of focus on growing. At MIC, I want to kind of focus on exercising more. I kind of want to focus on just helping the members more and in Miami I had a lot of temptations to have fun and I pretty much got a year's worth of partying out of my system in two months. So I'm done partying. I'm done drinking.  So being back in Jersey is actually really nice because I feel back at home, right? I feel like comfortable again. When I'm in Miami, I'm in a brand new state. I'm in a brand new place with brand new people and I pretty much sleep on the couch, right? So I slept on the couch for like two months, right? And you could say, yeah, you're making a million dollars a year.  But like, I don't know, I was just sleeping on the couch or whatever. So being back home and like having a bed, having somewhere to stay kind of just helped my mindset as well. So it's nice to be back here. I'm back in my morning routine of just like trading, working, exercising, questions, all this stuff. So anyway, feels good to be back and let's kind of talk about trading. So I always talk about in these Monday videos, what my process is like the day before I get to trading, right? So your process as a trader starts the day before you're trading. So today is Monday, right? Today is Monday, March 1st. So it's the first of the month as well. So my process for Monday always starts on Sunday. On Sunday, I make sure to not drink. On Sunday, I make sure to have an early dinner. On Sunday, I make sure to sleep early. On Sunday, I make sure that there's nothing in my life that is stressing me out because that'll pour into Monday. So I sleep early and I wake up early. And you know, my plan for today was just show up to the market, come back to my trading setup and just wait for these stocks to set up. So oftentimes you could tell by the title of this video, Mondays are really dangerous for traders. So I think it was early 2020 or late 2019. Mondays were my worst performing days in the stock market. I lost money every single Monday and I would have to crawl my way back on Tuesday, Wednesday, Thursday to make back the money. And you know, what I realized after doing so many of these videos is that the reason why I would lose money on Mondays is because I'd be so excited over the weekend. You know, as traders, I posted a tweet today and said, if you don't wake up excited to get to work on Monday, you're in the wrong business. So as traders, you know, Mondays are favorite day of the week, right? Because we get to go back to work. You know, it's nice to have a day off on Saturday, but by the time Sunday comes wrong, we're like, is it Monday yet? So we love what we do. I think traders are truly passionate about trading. Monday is their favorite day of the week. So over the weekend, all we think about is, you know, what is the market gonna be like on Monday? Let's get back to it on Monday. I can't wait to trade on Monday.  And what happens to me on Mondays is that, you know, I'm so excited to trade. I'm so excited to get back to it. I'm so excited to do what I love that I get in really, really early on these setups. I start shorting pre-market. I start adding size before confirmations. And I start finding myself stuck.  So something that I've recognized and I've tried to do is just kind of be more aware of this on Monday. So every single Monday, I try to remind the guys in the room, I try to remind the members that, you know, maybe your first entry, use less size. Cause what happens is your first entry is usually a FOMO entry. So if your normal size is like, say 500 shares as a starter, maybe on Mondays, your first entry on that first trade should be like 200 shares, right? And the reason why we do this is because we want to make sure that when we are trading on Mondays, that we are staying true to our process, right? Because what ends up happening is we're so excited that we end up getting in early. We break our process because we're trading based on our emotions. So I've implemented this in my trading, again, late 2019, early 2020. And now Mondays are just any normal day for me, you know? Knock on wood, I made money today. It wasn't anything crazy.  You know, I'm not complaining. You know, it was like a month of work in a Starbucks that I would not be able to make that money. But in this current market environment, there's so much opportunity that you can be making $10,000 a day if you're doing it right. So coming into Monday, I always say that I'm looking for easy setups. I'm looking to take it slow. So we had something that I really liked today, which was GameStop.  And you know what happened with that stock was it went from like $50 to $400. Everyone started talking about a $400 and everyone started buying it and it crashed down to $50, right? And in all my years of trading, seeing the stock that does that pump and dump style move, that FU style pattern of going straight up and then straight down, 99.9% of the time they do not bounce. For whatever reason, as crazy of a setup as GameStop was, it bounced on no reason, no news, air. It bounced all the way to $200, right? And to me, that's almost a dead cap bounce sympathy play.   And when it doesn't reverse, it's gonna come straight crashing down. So Friday, that's exactly what happened. GameStop kind of bounced and went back down. So today, when the market is gapping up, you know, GameStop gapped up as well. So I wanted to take the same trade. In my opinion, sorry, I was getting a call, I just shut down that call. In my opinion, GameStop is not going back to $400. GameStop is not going back to $500. The fact that it went back to $200 is a gift. So in my opinion, guys, GameStop is a short on pop. So anytime it pops, I'm just waiting for it to get to the resistance lines and I'm shorting. So today in this morning's watch list, I mentioned to the members in the room that I'm looking for the 110 line. And the reason why I'm looking for the 110 line is because that's kind of where it topped out pre-market. So what ended up happening in the morning is we get a push towards 110 and then we crash down to 100. So all of a sudden I'm making $7 to $10 a share on like, I don't know, 400, 500 shares, nothing crazy because it was just a starter. And that's my day already, right? So today, the best trade of the day for me was GameStop low hanging fruit at the 110 line, which we pre-planned in this morning's watch list, right? So if you go to the watch list in MIC and I posted it on Instagram as well, instagram.com slash my investing club, you can see that our plan was to short 110 on GameStop. Okay, that was the first trade of the day. Now, what was the next trade of the day? That kind of was also something that we pre-planned. So OCGN, if you look at the chart of OCGN pre-market, it was around like 11, 20, 11, 30. And my plan in the watch list was that if it breaks and goes red, that we want to short that for a nail and bail trade. So pre-market, the stock broke red, went down a dollar a share and never came back. So all of a sudden you have GameStop from the 110 line that worked, OCGN from green to red that worked, and then E-Core was the last one. So E-Core was a stock that was ramping up pre-market that tanked, that tanked pre-market. And basically I wanted to use that $350, half dollar mark as a short because in this market personally, what I've been recognizing is the whole dollar marks, like $8, $9, $10, and the half dollar marks, $8, $50, $9, $50, $10, $50, are kind of the key resistance areas in this market cycle that we're having. So I like to use those all in half dollar marks. So today E-Core, it hits $363 and then tanked. So that's pretty close to the $350 line that we had drawn, right? So that was that. So three trades out of the watch list, those all three trades pretty much paid out money today. So now what happens next, right? So again, here we are on Monday, there's three trades that were in the watch list, the three trades that worked out. Now it's 10.30, what happens next? So either two things, either one, you made money today and you feel like you didn't make enough money, so you start pushing and pushing and you end up losing that money. And number two is you ended up making no money today, you saw no trades today, so you started forcing and now you're right on the day. So some things to remember on Mondays, guys, is stick to the rules.  If you did not make money, if you were at net zero for the day and it's 10.30, shut off the computer and walk away, right? So these are the lessons that pretty much no one is gonna tell you.  So for me, what I've recognized about my trading is that if I stay past 10.30, chances are nine out of 10 times, I'm gonna lose money if I stay past 10.30. So what I ended up doing is I started eliminating that timeframe from my trading. You know, there was plenty of times that I saw a bow lose an extra $1,000 a day because he was screwing off, right? He's like, oh, I'm up five, 10 grand on the day.    So in trading guys, do not be fooled by the fallacy that the longer you're in front of the screens you make money. In reality, the less time you spend in front of the screens the more money you'll be making in trading. So if you are kind of struggling in your trading and you're giving back profits, 10.30 a.m. as a short-buyest trader walk away. If you are a long-buyest trader, there's plenty of long-buyest traders in MIC that wait until 10.30 a.m. to place their first trades. So while the shorts have the advantage between 9.30 and 10.30, the longs in MIC start trading at 10.30 until two to take advantage of those zombie moves guys. So is this all making sense to you guys? So yeah, today was a pretty solid day. I remind myself that if I can make $3,000 a day that's $750,000 on the year. So far this year it is March 1st and I'm pretty much close to up a million dollars on the year which is crazy because that's how much money I made last year. And just goes to show that this game, this business, this opportunity is all about who is more educated in the market. The reason why I'm able to make all this money guys is not because I'm lucky, it's not because I'm pumping, it's not because I got an alert service.   So the more dumb money that enters the market, the more money I make. And to be honest, the more money MIC members make because they've learned how to take advantage of those opportunities. So does that make sense guys? So yeah, those are kind of the main topics I want to talk about today. So if you guys want, let's open it up to a Q&A so I could take your questions from today and see kind of what is on your mind, what I could kind of help you guys with and what you guys are thinking about this market. So let's kind of go through some viewer questions right now. So leave a question here and we'll go through it.  So do you have any questions for me guys? Let's get into it. Do I trade crypto? I do not trade crypto. I focus on stocks because there's so much more opportunity of stocks than crypto. Crypto is kind of like the training wheels. People that get into crypto eventually get into stocks so they see more opportunity. For newbies, do you think it's a good idea to stick around and watch price action? Yes, but you must have the discipline to not trade.  E-core was really broken and I took a hit and I don't fully understand why. So what ended up happening is on E-core, it was broken, yes, and then there was nothing else moving. So all the traders started flocking to that same stock guys. So because of the flow of money, because nothing else was moving, that ended up becoming the hot stock somehow. What is my starting share size? That does not matter for you because my account size is not the same as yours. I just started following stocks, any videos or pointers you could suggest, go to our YouTube channel and start watching as many videos that you can. Where can I sign up to get started? You could text Tosh or<PHONE_NUMBER> and I'll tell them to give you a discount. So did you size down today because it was Monday, like tomorrow would you size up on the same setups? I sized down on my first entries on Mondays because usually that first entry is a FOMO entry. What is my process for scanning pre-market? I look at the top percentage gainers. Does MIC strategies work on OTCs? Yeah, we actually have some OTC videos too and Bao actually started trading on OTCs and changed to NASDAQ. What I first started and what did I do? Example, one to two setups and then you size up. Basically look for my best setups only like shorting the first red day or shorting broken stocks and I'd only stick to that.  So focus on the setups that you are making the most money on, wait for them to come and only trade those setups. Do you think the overall markets being up today affects small caps?  How do you handle patience during the trade and waiting for it to work? What you could do is you could set fantasy orders, you could set trailing stops, you could do all that stuff to kind of control that phone mode because right now you're trading based on the money and not based on the price actually. So set stops, set orders, set whatever based on the chart and you will be rewarded. E-core just cracked 320, yep, 350 line that we mentioned. Do I only trade small cap stocks?   You know, a $100 stock going to 110 is 10%, but that $100 stock going to 110 is a very difficult move. Again, guys, I get like questions all the time, like, you know, I lost money here, like I'm kind of struggling, all this stuff. And you know, my question's always the same, like what are you guys not doing joining MIC? Like I don't get it. Like to me, it's just like, you know, most people lose more than $200 a day and $200 pays for a month of education.  You guys could continue to be chasing these large chasing these pumps, but just know that on the other side of your trade, that's me taking your money because you are uneducated. So the longer you stay uneducated, the more time it's going to take you to learn how to make money. You know, this has been the best market opportunity, past 2020 and 2021 has been the biggest opportunity to stock market ever since I started trading. I've been trading for about six or seven years now and this past year and a half year has been the biggest opportunity to make money. And if I didn't learn the process of how to trade before that, I would not be as profitable today. So learn as early as possible to take it. This isn't a question, but a testimonial. I joined MIC and cleaned up my whole process. Don't build bad habits, learning alone, rather start with good habits, invest in yourself and it's a tax write off, yep. So for me guys, the way I explain to people is like, I've been getting a little bit more into fitness. I am a very unhealthy person. I don't exercise a lot before this.  And what I tell myself is I'm paying a personal trainer to teach me all of the mistakes so that I don't have to learn it for myself. So I have a mentor for my exercise. So wouldn't you want a mentor for your trading?  That's not how it works. You're paying for education to learn from the same mistakes that I made so that you don't have to make those mistakes again. And while you're at it, you're in the same community as us and you learn how to trade from us as well. So I was looking around these markets, crazy action. So do you guys have any other questions for me? I like to keep these videos short and sweet because I know that a lot of people don't watch these longer style videos, but I wanna just show you guys that here I am every single week just doing the same shit that I've been doing for a year, two years, three years, five years.  And yes, we repeat ourselves. Yes, we say the same things, but oftentimes you need to hear the same thing 10, 20 times before it clicks in your head. I'm doing the same thing every day. I'm trading and I'm walking away at 1030 and I'm up a million dollars doing it.   The reason why we have all these free videos on YouTube is so that you guys can make enough money from the free education to be able to afford an MIC membership to actually learn even more. The videos on YouTube are like 10 minute trailers of one hour videos. If you guys are getting value from the free YouTube videos, imagine how much value you'll get from the community and from the member-only videos. So again, the free videos on YouTube are for you guys to be able to build a bankroll, to be able to afford to join MIC. So no one has any excuse, guys. I think I'm gonna wrap it up. So I usually do like giveaways at the end of these videos because I want to kind of reward the people that are kind of here to the end. So what I wanna do is if you guys comment one lesson that you learned on this video in the comment section and leave a like on the video, I'm gonna pick one person to win a free month of MIC. And if you are already an MIC member, I'm gonna send you $200 worth of MIC swag for free. So leave a like on the video, comment one lesson on the video and I will pick someone probably in by the end of the day or within 24 hours to win this gift. So I'll see you guys back in the room. I'm gonna get back to answering questions and if you guys need anything, hit me up whenever. Thank you.


Hi Hello everybody here. Welcome to our post in this Hong Kong Mobile Electronics show. What are you showing here? And this is our new design the Roger the smartphone and It is Nt4 anti scratch waterproof IPv6 IP69 so it's like got big speaker in there or yes You'd have three parts fire what not a speaker it sound is very Steering it's got a huge battery. You would yes. It's a battery capacity is about 10,000 10,600 H I'm good camera solution camera Resolution is very high 24 MP 24 MP from the camera and 5 MP real camera and zero on part of five assistant camera and What's approved drop proof? everything waterproof Nt4 and scratch proof Do you have different model here different model? Yes, we have this is the one or one you show here yeah, this is our first type of Smartphone and so does that is one is 22. This one is a upgraded version of 101 60 more powerful this one. Yes, it's a CPU and it's got like a smartwatch here Yes with a clock Yes And this one is with a speaker This way the speaker You can touch on the watch or no? No touch Just to show the time looks like a decoration nice and this is a F 102 yes, is it more powerful also G? 99 octa core Do you talk about the price or people contact you and a moq and everything the distributor can contact you in every country or? What is this? Now speak also speaker there. It looks like a light LED. It looks like a LED light Very big one. How do you turn it on? How you turn on the LED? Is there a button for it?  Oh, yeah Long press the light button. Yeah, it doesn't light up. Okay Maybe no more battery no more power. Maybe and this is a rugged tablet. Yes Fussy rocket tablet PC and this is using the in-cell display What is CPU here? I don't know what CPU it is. All right. Do you talk about price for anything? You have a very good price. You where's your factory? About the price this factory price is 170 USD. Nice. They need to order how many pieces? moq About 100 pieces If all the quantity can reach 500 or 1000 pieces the price can be much cheaper and also for the phone good price for this you You have the best price in the market or? How many phones you make every month? You have a big factory. Yes We produce this products in our factory And here behind I see some solar panels with huge battery. Yes It's our own design solar panels. This solar panels is a professionally connected with our portable power station Solar is flexible. Yes And you just 200 watt 200 watt is affordable You cannot put it on your roof of the house. Yes, you can it's work in the rain Yeah, you can put it on the roof to connect with your electronic devices And then you can have this battery at home with all the plugs, of course What is this product there and F? 2400. Yes with a 2048 watt hour. Yes lithium Output water is 100 100 watt and it is adjustable. You can adjust it from 300 500 600 700 900 and 1100 You can adjust the water according to your request if you want to use safe power. You can adjust the power to lower And the battery is very very good quality Last many years battery is high quality. There's a life P04 So many years will be okay to keep the charge usually if you take care of the devices you can keep the More than 10 years 10 years and behind here. I see some other is it also battery all this What is this The function of it is the same to that F 2400 portable power station Yes Yes, it means you can charge your devices longer time than that 2400 one. What is here? Does the light coming out? It's a flashlight When you are outdoor You power off you can use this flashlight to Guide your way and what is this cooler? This is fans fans to fans to cool this It's a little bit heavy, huh? Yes a little bit heavy This is a they can stay in your van in your camping camping van or at the house Yes, many customers buy this how many years you make this product This one is our new type this year Yes for power supply problem Standards, where is all the connectors?  Yes. It means this device is usually in Europe countries Europe countries. What is Like is it very very expensive these machines? In the market our price is not very expensive in factory because It's made of our own factory. Yeah, so there's a good price is much cheaper than those similar items in Some Online store is it possible to know around what price it can be Hmm We press this button for about one seconds the device will start working information there. Yes, how much around price for this you can say or not about 100 1,000 500 store 1,500 for this. Yes, and the smaller one over there. There's more than one yet, but But that's from the factory, right? for MQ or MQ or more than 100 piece 100 piece for this price you say this price and The smaller ones over there What do we see here? This one is same as this one It has two colors. This is green. That is black The price is same This is not our product. This is the product of our Charge from here the fridge. Yes. Yes. Oh, it's cold. It's our outdoor mobile fridge Oh, it's very cold people can use this fridge here in the car Nice. It's used not too much power too much power not so much power to use We don't know the power of their this product nice, but I think it's enough for our Power station to charge this.  I see a big fridge American style I see a washing machine a big TV everything around from this Or everything around from this If you use this How station it may be available so it can run all this you can have washing machine and you yes It can work with a powerful electronics It may be difficult to charge all of them at the same time nice and If you need to go somewhere, can you use the battery inside to drive it forward or you need to pull it with your hand You cannot just click a button and it just drives the battery is built-in. We can't take it out when we Moving it out. There's no motor Okay, this is your factory. How does your company? How old is your company? How old is a company? Our company is found up in Last year last year you knew new stuff Who's the CEO? Who's the big boss? Big boss is It's that one. Who our boss is a native Qi Guang Yuan and where's the factory our factory is in Shenzhen, Longgang strict Many people working in the factory our factory about 200 workers and our office has about 60 staffs half of them is a Technician department. You already have customers in many countries Our main customers are from Europe South North America and also Most countries from Europe basically from these areas Cool, thanks a lot. Thank you very much


The House of Representatives Special Auto Committee on Petroleum Industry Bill has sent its report. The Majority Whip and Chairman of the Committee, Mohamed Mongono, led the report at the plenary on Wednesday. The leadership of the House had earlier on Tuesday met with the committee, while the southern and northern Caucasus had met separately on the controversial bill. The Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kiari, is to meet with the entire House that has met them today at 4pm.


The colors are flying high for the Marine Corps outside the Spire Institute here in Geneva, Ohio. And inside, the Corps is taking care of its own. Today, the Wounded Warrior Regiment is putting on classes for these wounded Marines, covering everything from VA benefits to personal finance. It's part of the third leg of our ethos. Honor, courage, and in this case, commitment. As John says, as well as the rest of us, we're keeping faith with our Marines. Whether they're wounded, injured, ill, or on active duty or in the reserves, we're going to keep faith with them. Doing the Wounded Warrior events and sitting down at the VA, talking to everybody at the VA, talking to everybody here, it's actually one of the better benefits to do. In just another way, the Marine Corps stays always faithful to its wounded warriors. From Geneva, Ohio, I'm Sergeant Todd Hunter.


Thank you very much for being here. It's amazing me in Asia bringing our experience so I'm not here to Give lectures about how you can set up an organization We had a worship. Yes. I was very interesting Having a discussion on that today. I just would like to tell you about my experience So there's one thing that I've learned in the last years and this is what I want to talk about So maybe this I think this is very important for all of us. So I would like to share it So this is me. You can find me around web, of course my name is tell you over Zara and I Have a problem. I've tried to explain to my parents what I do for a living for the last 20 years and Probably they starting to get it now The thing is actually my job kept changing as I guess most of yours So I started working When internet arrived to Europe. I was like 18 or 19 while I started and at that time Sorry, I need to have also a timer. So I have time so at that time It was something for IT people for geeks But the company started to see it as a strategic asset And that's what I started doing helping them using making something out of this new tool then things kept changing and Dynamics that internet brought in started changing the markets the information processing power the power shifted from big players a few big players To the public and so I set up my first company when I was 24 25 so this is on I kept following this change and Just now connecting the dots back. I can understand what I've been doing and there are two ways of saying that so the first way is that Actually, I've been helping Companies in their evolution since I was 19 Second way to say that probably is more realistic is that I've been causing new troubles to organizations So my job is helping them move for the current troubles to new troubles to face So this is why if you look for me on LinkedIn and I set myself up as a professional troublemaker And I think that's what still a lot of us do So I would like this line to Introduce one of the two people that is they are going to help me in this through this talk Which is Marshall McLuhan who knows Marshall McLuhan, please raise your hands All right, Marshall McLuhan is a visionary that foresee the Global village in the 60s. He became famous for well. He was famous in the academic Environment, but he became famous on the mainstream for an article that he published In interview of him. He's been published on Playboy in 1969. He's quite a genius He is the author of the quotes the medium is the message which might you might have heard around So Marshall McLuhan said that every society honours is like life conformist and it's that trouble makers. I Don't know about honours. I'm for sure. I'm alive at the moment and I'm causing a lot of trouble So this is about trouble again I had this company that I funded in 24 when I was 24 hours 24 years old and we went quite good on the markets for eight years like international Customers we work to land rover airplane manufacturing local customers as well went quite good for a while and What we were doing today, we might well at the time it was called Innovation in marketing actually we were developing conversation between the companies and their external stakeholders using the new media Then you might heard heard about the crisis that hit the whole world and for sure, Italy and in 2010 this is how my company turned out we crashed it simply and There was my first company had put like almost ten years of my life in there and I spent one of the worst summers of my life like this My wife who she's here knows better Now the problem is not you're losing a company the problem is that it tackles your identity It tackles what you think about yourself and You start asking yourself what I did what I did what did I do wrong and what I maybe did do right? Fortunately, I wasn't alone in that we had launched that company with a couple of other people Actually, we were already tired of using our nights to help land rover with all the respect selling their cars or Airplane manufacturers selling their airplanes. We were feeling the need to creating real value for people So actually this was a chance to stop and reflect on what we wanted to be in the next phase of life of our lives Of course, my parents. I was I don't know. I was very probably 30 something My parents were pushing for finding me a job. Okay. Now. It's time. You find a job. What you have done is not having a job No, you have a company a lot of risk. This is also a common way of thinking in Italy I know that maybe in the United States can be different But in Italy, they want you to be safe Actually, I have never ever looked for a job I've never looked I have never been through a job interview actually once or twice, but I was curious about the company I wasn't looking for the job So when we stopped we asked ourselves, so what is it that we have done good and there were two things That we were working on already with the last company our previous one and When we Decided that we wanted to create a new company. We wanted to take those two things with us to create value So one thing was the concept of the value stream So you might have heard about lean thinking lean management who knows about lean? Please rise your hands. So I get the feeling. All right, so I don't have to tell you that this is all about Streamlining your value creation and taking ways to mood out of it We loved this way of thinking and we started understanding that not all companies are created To generate value. There are other reasons why people run companies like creating career career paths distributing power It's tricky, but we wanted to focus on value creation Second thing beyond the lean thinking body of knowledge from Taishi ono to agile actually Was the body of knowledge of open collaboration? Which is merging value streams? In order to create something that is way beyond the sum of the individual parts Something that is organic on its own We were working in this actually we were doing this for our customers and we thought now okay This is something that we want to build into our new company So before I tell you what happened Let me step a little bit back and give you a background of what were our reflections Don't worry. Not till the Egyptians This slide is to introduce what happened in the last century, which you probably already know So I will be quite a fast on that so after Taylor a virtually invented Modern management Dividing people that think in a company from people that do that execute we've been designing companies for one century For them in order to be durable stable and predictable That was possible because the structure of the markets in the last century Had a very low complexity Few players like 1% of the players control the dynamics of 99% of the markets And so the variability was quite low you could in the 70s You could foresee the future of your company for 10 or 15 years and have a plan on that now It looks crazy ten years from now is going to be science fiction and literally So this thing Generated some organization that actually was well designed There is a big body of knowledge about organization design in order to be durable stable and predictable The thing is when crisis hit we've seen all of our customers including the big ones and ourselves Completely unable to adapt to what was changing at that rate Because we had started since we've been with our small company who had been eight or nine years on the market We had started to structure ourselves and the more we structure ourselves the less Adapty we were able to be Actually this thing was creating quite a few problem all over the world and This was foreseen from by the other person. I want to introduce you just Peter Drucker. Who knows Peter Drucker? Please raise your hands. Okay, so I will not say a thing about him This is the beginning of a nice book Which is the post-capitalist society and he says that every few hundred years in Western history there occurs a sharp Transformation within a few short decades society rearrange itself 50 years later there is a new world and the people born there Cannot even imagine the world in which their grandparents lived and into which their own parents were born We are currently living through such a transformation and he wrote this in the 90s So this is a transformation that now we it's mainstream. We all have recognized Just a few ones recognized it in the 90s like Peter Drucker That's why he's a I mean he's like a lighthouse for management and This transformation is probably going to finish in the 20s or 30s living us with a completely different words So what happened is that everything we have worked with just collapsed and this created a Few set of consequences. So the first one on the job in in companies. These are numbers from Gallup I think 2013 research global workplace and 89% is the number of people found unengaged at work This is these number are from Western Europe. Okay 89% is engaged of which 26% Actively disengaged so disengaged means that these people basically go to work just because they need money Actively disengaged. They don't they don't care about the company that much But if they're actively disengaged, they're trying to contrast the company and the other workers Anytime they can because they are hungry with the company By the way, these are the numbers for India.  Okay, this is available So this is first consequence then you might have heard also of occupy movement Arab Spring. So this kind of thinking that is for the first time after more than a century finding out that it Living 1% of the people Planning and controlling the life and work of 99% of the people Simply didn't work anymore. Now. It's not a matter of being wrong or right Just not effective anymore. It doesn't work today and there are quite a good good reason and basically is that complexity is back Very high in the in the markets So not just companies, but the old arena the old society is suffering from a No longer effective structuring of our organization including governments, unfortunately Of course, there are also nice things that are happening because of this big change for the first time people can organize themselves without central control and That's true for a tsunami like it happened over here in 2004. It's true for what happened in Paris with the terrorism attack So people can really do things without any central control self-organizing Before the Red Cross before the governments giving aid sending money amazing and very useful things This is the first time we're able to do this and this is the first time in human history where a problem can be raised in Africa Discussed in the United States and sold in Asia in three weeks This is amazing So this was the reflection we had done and we stopped and say okay We want to start a new company, but we wanted to be ready for this scenario We want it to be very different. We don't need it to be Adaptable sorry durable and predictable. We need it to be adaptive and antifragile Now there is a talk. I think nourish is having it today. I don't know if nourish is in the room About antifragility, so I don't want to spoil it. I will just say that this is a quote from Nicholas Nassim Talab book with the same title antifragile. He's the author of the black swan So you might know him for the black swan. I prefer this book What he says that we usually build robust or resilient things to resist change But we can go much farther and build things that thrive with change So the more change you throw at them the stronger they become So this is what we wanted to build and we embraced what if thinking and it's easy when you lost everything You say, okay, I want to start new and if I start new I want to do it my way So we said what if we can build a company in which values and principles can stand in the place of roles and titles? And when I say this I say in the sense of the agile manifesto Doesn't mean that the other things are not important But we want to overcome the importance of those with values and principles radically and Engagement can stand in the place of command and empowerment in the place of control So how would such a company be it was 2011 we were like crazy people everybody was saying you're crazy This is not doable. It's impossible to build something like this because we were already having idea How that could be but job contracts and whatever Normal thinking about a company were against this way of thinking We came out with something that I will know good into I will not go into too much We called it liquid organization and liquido is the short name for that liquido is an Italian word It means liquid, but it's then also stands for liquid organization You can find it and details will release the white paper on liquid organization info and you find information We will update it over time It's in creative comments, and I want to make clear that we do not sell this the job of my company is another one Okay, so we did this for ourself and then we release it for the world and Doing this we brought something to the world that integrated lean thinking open collaboration And positive psychology at work as body of knowledge. We didn't invent much. We put things together in the simplest Simplest form we could think of we wanted a DNA something that had some basic and simple rules In order to generate complex and healthy behaviors so we have a collaborative working board which is which is a Kanban board that I guess all of you know here So it's a board where the whole governance of the company is visible and accessible by anybody Anybody can propose things in our governance and when I say anybody we embrace this so radically that we don't we let Also customers partners internal external people into the governance of our company We have customers that taking part in the governance of our company as well On that working board there is a contribution accounting system running Which allow people to have a granular and continuous flow of feedback on how much they are contributing to the governance This is not a performance measurement Performance is a is a an agotic metric. It's about how you how well you're doing This is about how well you're helping others a contribution in the governance items and it's continuous So you get it small and continuously like one per week or it depends on the length of the work items when it's finished You get a you get a contribution retrospective evaluation With that value that you get the more value the other recognized you're creating the more decisional power you get in the governance The owners of our company including myself Do not have a say in decisions if they're not creating value recognized by the others in the governance We have a toolbox of collaborative decision-making tools Which includes the position of decision-making of course what has been done for 100 years Still in place so we can still have somebody be the only person that can take that decision But not for the role, but for the competencies of that person We can say guy you have to take this decision But at the side of that we have a complete tools We've spoken like two hours yesterday about this in the workshop of collaborative decision-making Processes okay, this run into the board So one work item in the governance can be a decision and anybody can join that and the team that is taking that decision chooses the Decision process they want to have for that one and it's the smallest one that should do the job Then we execute we get feedback and if it's needed we change the decision If we feel it is a big decision we use a more structured decision-making process. Okay, we have a toolbox last part Reputation tracking this is simply showing what you are doing or what you are not doing in the governance So the reputation that we are tracking in tracking is not a political reputation Actually, it is an operation reputation So it's about how much value the others are giving you how much you are taking part to to to the Work items in the governance and so on this allow the stop establishing what is in Azure is called Stigmergy Which is the ability to act on the science left by the action of others around you So if you for example Enter the governance or company you can have a look and see who is doing what and you know who to ask for and you know Who's into the governance or and we just there maybe talking a lot of not doing anything? Okay We're social animals and reputation for us. It's very important This is important to align the interest of the person with the interest of the group Simply because it shows Okay, this is a way of implementing radical transparency as well We use this system to drop job interviews completely We let people into our company through the governance you want to work with us enter the governance do things Then you will decide if that's the place for you to be or leaving So this is it for liquid. Oh, I just want to tell you that the most important thing about liquid Oh is not liquid. Oh is the fact that since 2011 liquid O has brought us into a wave of Incredible change all around the world. We're just found us to be a drop in this way There are a million things We are connected with people doing such things in Israel in New Zealand in the United States other parts of Europe some are Hacking and tweaking our job. Some others are doing companies on a blockchain. It's what is happening today is amazing in this respect Humanity is finding the need for a new Tool to be organized that tool is what we call organizations The thing is we're disrupting this tool. We need it completely different because the environment's changed So who knows those two guys? I Don't know if Motorbike is followed here in India. Maybe somebody from the United States Nothing. Oh, yes. Thank you very much. So this guy over here on the left is Valentino Rossi, Italian I'm sorry, but he's like the most famous mother's mother bike driver all around the world is that he's won everything This other guy here on the right is Mark Marcus Spanish Now three years ago what happened after that Valentino Rossi was finishing every race with like 500 meters distance from the second so winning alone this guy like 18 years old came up and He started leaving Valentino the same amount of distance when finishing So everybody was like what the hell is going on here and also Valentino is like this is not possible I mean this is not just you know raising with me for the final line is Completely deleting me from from the line What was happening is that Marcus had intuitively found a way of driving the same technology that in that case was the bike That was defying any Knowledge of physics and I'm an aerospace engineer so he was driving at like 170 kilometers per hour in a band completely out of the bike sliding and that was Was thought to be almost impossible at least as a normal behavior. It happened some time Now to cut it short Valentino could have said okay. I am the champion I don't care about how he drives. I will improve my driving and I will get him back The thing actually happened on the other way around Valentino said I need to drive like this guy After he has been for 20 years that un unbeaten champion. He said I need to do what he's doing. Otherwise, I'm out of the game And he also knew that he was different He was taller. He couldn't drive in the same way with the same angle So he adapted what Marcus was doing. He went back to challenging Marcus and finally he won a game Now this is exactly what is happening today with companies. There is a new way to drive The technology these companies there are some big players that are understanding this and are adapting the way they drive their companies Some others aren't and probably they are set to decline as it's already happening but another thing about this story is this was on inside motorcycles on 2013 Like most top riders exploring the other limits of riding skill and technique Marcus himself is not able to fully explain his riding style So the thing is this guy actually didn't know what he was doing Interviewed he said well, I don't know I just I know that I should drive it in a more clean way But when I have to win I forget it and I win in another way This is what is happening with with companies like ours when we started in 2011 We actually didn't know what we were doing. We learned it on the way And this is why now our first white paper you don't find many tips on how to implement a liquid organization because we simply didn't know We were doing it, but we didn't know how it work and how it could work for other companies What we did we identified these three dimensions in the space of Evolution for a company which are Linesse openness and inclusiveness. So the Linesse is about how people collaborate in a new way Inclusiveness is how people craft direction. So new services new strategies together Including including also people from outside the company. So this is broad also the lean enterprise You might know it's not the boundary of your company is the whole that you change to the customer and openness is about How people converse so it's about knowledge flows. It's about how information can enter your company and Travel through the company what we did with liquid or was pushing all these things to the 100% 100% 100% Let's see what happened and it worked for us. It worked now We're starting to understand for which kind of companies this can be useful and how to implement but after four years Marshall McLuhan, which we introduced at the beginning Speaking about how new media changed the previous ones use of this diagram It's called Tetrad. He says like, you know, like the mobile phone with the normal dial round dial phone or or the digital television of Anything that has been this disrupted What happens is that the new technology? Amplify something so what does new governance model like liquid or amplify? Well, they amplify antifragility. They amplify adaptability and What Does it make obsolete? Unfortunately, it makes obsolete management as a company a structural layer because it opens up management to the whole company in a different way How does it flip when he pushed to its limit, what is the limit? Well, we found out that the limit is communication with an org charts You have communication lines and reporting line pretty clear even though then people Usually don't use it exactly as it is. There's a formal and a real system With a liquid organization is the challenge is having the right information and giving the right information to the right people Not to everybody But what does it make relevant again? It makes relevant again people So for the first time in easterly After the industrial age at least It's not people that have to adapt to the organizational rule a structure, but we're designing structure that can adapt Dynamically over time to the way in which people can create value best This is what adaptive organization design is all about so if you imagine an org chart like a picture We are building something that is going to be a movie So there is a structure in any moment But it's liquid in the sense that it changed given the needs of people to create value Okay It has a built-in set of principle that allow people to continuously change How they work and now the formal system at is just displaying the real system is not ruling it So it's like a Copernican revolution people are back in the center This is very important because another thing that Marshall McLuhan said is that we become what we behold We shape our tools and then our tools shape us You can see how the world has changed after we Invented the car our cities are designed around the cars and I'm here because we invented an airplane okay So if we invent companies that put people back in the center Life of people our lives are going to change are going to change in a positive way in Respect to when we had to adapt to an organizational structure because that way that was the way it is It was the way it was It can work because it's all about people again After one and a half century being about structures These are us we this is part of the management of my company and This is what we have found out but still it is. Oh, sorry. I'm talking about something you don't see but I see it Hopefully will come so this is part of what I've learned. We're getting there, but still is not there There are three things that I Think you should take in account in your companies in your work and then eventually Let us to build a widow and to learn what I want to share with you But for these three things we need the slides so we'll have to wait. Okay. This is us Okay So besides the structure the four pillars of liquid or holagra see Zappos adopting medium dropping it and this kind of thing technical things at the level of tools and processes What are three things that you should bring to any company in this century? So the first thing is enabling trust Okay, this is easy to say but not that easy to do in Practical terms this means Transparency and meritocracy It means that if you're hiding something you should have a very nice reason for hiding something Otherwise people will think that you're hiding something because you don't want them to know okay And this is completely normal in most companies We hide something in cocoon to some people just when it's to preserve our customers That's the only reason and people know it and say okay. I'm fine with that I don't want to know that things of that customer if I'm not in that project and the customer doesn't want me to know all the rest is completely transparent and Meritocracy as well now we push this to a culture a culture that we Have adopts the word Ohana which comes from Hawaii Now Ohana who has seen little a stitch from Disney? No, come on. You miss their masterpiece. You really need to watch it Okay, this is a cartoon from Disney Ohana means family and you might see why we haven't used the word family in Italy so we preferred to use the Hawaiian word which is amazingly close to the good sense of family we have in Italy not the one that got famous with some movies So Ohana means family and family means nobody gets left behind or forgotten This is Beyond tools and processes. This is culture. We show this every day and I don't have to give example of this Just trust me on that or come and see how it works at our company This is something you can embrace and once you embrace a principle then the principle will generate rules Okay on dynamic rules each group will generate rules according to that principle and that rules then can die and new ones Can be generated from the same principle So if you want it less fancy and more technical read the book The Power of Pool from John Hagel Actually, what he says that in order to become in this networked way of working in order to become a super node You need to gain trust and when you become a super node Either at the individual Institutional or arena level. Okay, this is the same You can move from the access phase to the attract phase. So now it's easy for us to access any resource So if you don't find it that you're not looking well enough people money, it's quite easy Information not to say to access so what we want is to start attracting and then we have another problem Which is selecting so if you become a super node through trust Then you start attracting and just attracting today. You can realize your full potential, which is the achieve part Okay, otherwise, you're out of the right knowledge plus right out of the right arenas And you want the most people possible in your company to become that kind of super nodes and that's enabled by trust Second thing that you need to build into your companies is the evolution of the concept of leadership We connect leadership with positional power So our leaders are the one at the top of the hierarchy And when you don't have a fixed hierarchy, but you have a dynamic one who are the leaders are the one that are leading Simply the one that have followers Now let's reflect to this a little bit now Peter Drucker used to say the most of what we call management consists of making it difficult for people to get the work done and this is what often happens With a positional leader This is a research from CB that you might know is an a member advisory firm famous in the world. They have 10,000 clients including more than 80 percent of Fortune 500 and more than 70 percent of the doge on such an item So they they have a lot of information and this research said that from 2003 to 2013 More organization are satisfied with their leaders This is the percentage of organization that would replace senior leadership team members if given the opportunity So it's like our directors if we could we would change them and here leadership is Intended as a positional leader. All right So we don't like our leaders. They're all there don't know what to do today. Okay, but on the other side same research Over the past year senior staff 80 percent have been given more responsibility 76 percent some being asked to achieve more and broader objectives 65% must deliver business results faster Well as a I mean it's impossible to be satisfied with people to whom we're asking this They just cannot cope. This is the end of the marriage If the end of a marriage between the firm and their positional leadership We're asking too much. They cannot do it and both sides are not happy It's not just a matter of the employee not happy or the manager is not happy The thing is that these two sides of the table just doesn't work anymore So beyond transactional and transformational leadership that we should still need to Know how to use of course There is a new kind of leadership that you want to build into your companies, which is network leadership So you need to know how to say this is what needs to be done And this is the reward so being transaction transactional helping people growth being transformational and saying this is To be done because in this way you will become better and we will become better with you this stays But you need to also be able to do something more network leadership Means that leaders must must help others build and connect to networks. So this is about the nodes. I was speaking before Leaders must align and direct the network. This is a new responsibility that all leaders have not positional leaders So this is you in your company Wherever you work in your company you need to help Others to connect and help them align and direct the network and energize and enable the network So give them resources purpose feedback once again Peter Drucker used to say that your first and foremost job as a leader is to take charge of your own energy and Then help to orchestrate the energy of those around you and Again, this is from the 80s. Okay. Well, he had a quite long site But this is human. This is why it was known All the rest were mechanistic This is human. We need to help people connect Now third and last thing that we have learned and we've been hearing about it in the keynote You need to disable fear Now what does that mean? Well, in our opinion three things So the first thing is you have to set up an environment where people can jump where they can try experiment Okay, but this is easy and not enough you need to give them shoes So they don't hurt themselves when they jump and you would like also like to Probably have a look of what is down the water before they jump So telling people you can experiment no problem go ahead. It's not enough. You need to provide tools processes Boxes Resources in which they can truly experiment one of the things that we keep finding that nowadays all the companies want to do lean start Up intrapreneurship, but then they actually don't want to do it in practical terms because they don't give the freedom the authority The resources and their words for trying Not just their words for succeeding. That's easy So you need to do this if you want to start disabling fear Then you need to build a culture and commit yourself to continuous Improvement in lean thinking. This is called kaizen. It it's often translated with continuous improvement. It literally means Change for the best Here the concept is that perfection doesn't exist. It is a direction. It is not a goal okay, so If you commit to this, you know that the important thing is that tomorrow you're a little better than yesterday Nobody will judge you by defect to what you should be We will judge you if ever by the increase Increasement you have done in respect to what you were the last month or the last year and this is continuous for all of us third and last thing In order to disable fear you have to create a unique body and this was This is an example of stigma G nature here You have a big fish a predator and this is behaving as a single body and For this you need different organizational model and of course you need a different culture when you find yourself in a body Unique body with the people you work with your fear starts fading away Now this is not just about tools and processes and this is the thing that we have learned and I want to share with you This is about empathy. This is about caring for others. It's about generosity of the work and In a word, this is about love and again for the second time today you hear weird business words So we are seeing a shift in humankind in mankind from ego driven systems to eco driven system We are getting More and more aware that actually we are one and Being one means that what happens to one company is A problem or a benefit to all the others what happened to one person is a matter of the happiness of all the other person in the company This is really deep and this is so true because if we today in the economy if you think About the arena level if we have a problem in economy in Japan or in India There is no country in the world that can just walk away and don't care about it We are strongly connected complexity made us one. So now this new Awareness is allowing us to focus on what is in my opinion the opposite of fear, which is love interconnection This is why we work like this when we collaborate and this is not new here, but it's very new in some other companies This is why we converse like he like this and this is why we co-create like this These are more human things are 3d touchy conversations. We are also a distributed company. We travel to get together Okay, we care about each other Simply we know that if somebody has a problem is unhappy deeply unhappy is a problem that we all have not just inside of the company again we have Clients that entered our governance. We are partners that entered our governance this Idea of the boundaries that rule the distance. We have to care about is that There is no boundary. There are value streams more than one. We should try to be part of now. Let me close this Marshall McLuhan said that our age of anxiety is in grand part the result of trying to do today's job With yesterday's tools and yesterday's concepts So this is why we had to change our company. We devised the liquid organization. We entered this conversation We are here today. There is a change going on in Between two generations. I've been working with the board I've been part of the board of European Organization Design Forum and we're working with people that have designed organization for 40 years We absolutely need their knowledge To learn how to do it today and I've worked with amazing people that were asking us how to implement an agile governance While they have 40 years of experience in designing companies. This is a unique and beautiful moment in history It is needed in order to serve complexity You cannot control complexity, but you can serve it You can make the most out of it and you can enjoy the ride on the on the way We just need to learn so let's make it happen and this is what I've learned. Thank you very much Very nice question. So the question is So you're distributed How does culture flourish? How do you build that hasn't it become a bottleneck? Yes, actually well not a bottleneck, but it has been our main focus from the beginning I believe I will speak about it in the other talk actually on Friday on Tuesday So I believe that a human system has at least four levels tools and processes and it is where we normally focus Then we have competencies needed for that these competencies have a culture layer Culture is what a human system does or doesn't do. It's not what we say So it's what we do and then there are people the foundation of all this So if you work at the tools and process and you say, okay, this is liquid now Let's work like that. It will not change anything What we believe and what we bring to our customers is that if you introduce a good tool might be a Kanban board It might be a retrospective meeting tool if you introduce a good tool Simple one they can adapt without too much effort It's like a Trojan horse that will bring new cultural principles And those principles will start to spread in everything they do and then they're ready for the next step So this is what we have done in cocoon when we founded the company We introduced new tools starting actually with a Kanban board and then building liquid on top of that And we focused before thinking about scaling up our company with which we haven't done yet. It's organically growing We focused on creating the right culture So we made sure that people understood the tools had time to share the thoughts and change the tools and made their own in this way culture grows naturally so Simple but very Disruptive principles like you can see whatever is going on in the governance and you can propose an activity as any other Other people because maybe you need something in your work propose it in the governance and you can take part to governance activities Oh really this builds culture not the tool But the the facts that they change the way they behave on a daily base They start building new competencies. We found out that people entering such a system were lost say I need somebody That tells me what to do because they were used to having company telling what they do and we say here Here you can stay sitting down for the whole year Nobody will tell you a you have to do this but you can ask anybody you can activate and try whatever you want And of course if we see you sitting will come and say is everything fine But if you say yes, we'll go away. It's okay. I'll go working So these new things started building a culture and then of course we Built on that momentum. We have rituals. We come together twice per year for three days We have one week legal. We have monthly ketchup So you need to have you need to create space for conversations. So it's the principle from Harrison Owen Open space technology creator. So once you open space things happen if you don't create that space, they don't I have a question here So you talked about Building a stress coming building based on this test concepts and tools When you're trying to build something new so what leadership qualities are characteristics? You will help to build us because it's not everybody going to jump on to something you say That's a great idea. Let's do it because you don't know what the idea is So what what do you think the leadership process in this case? What do you I think the leadership leadership skills or leadership characteristics? What do you how do you drive this? I mean now even though it's not top-down, but still somebody needs to kind of bring up the concept and Evolve it for a period. So what what what managers do here in this case our leaders do in this case Yeah leaders better than managers. I mean we managers are everybody for us So we all manage we don't need a manager layer. So what should we do in order to enable this? Sorry Okay, so if we talk about leader as I intend a leader So anybody regardless of their height in the company is a simple the three things that I told you So, okay, you need to disable fear. You need to enable trust Those things that we said, okay? But The most important one that I would say is again is love. So and this is the easy answer Then I'll give you the different difficult one So once people have a culture of caring for the others, they will just enable what is good for the other So there is a very big difference in seeing the things from your perspective and trying to see things from the perspective Of the other it's that simple. So once within a team or also among teams People start to really caring what they need to work better than different things start to happen Okay, so this is the basic thing you need to evolve leadership in that direction as a really Enabling people in their growth. Whatever we mean by growth. We all look for that So it might be more more money side more competencies side more reputation side All of us a different idea, but we're looking for growth So if you I understand what you need for your next growth step, I will help you Significantly, otherwise, I will just show that I want to help but nothing changed This is the easy answer then the our answer is that we have seen over and over in time agile operations crashing Towards rigid management And that's the kind of leadership we normally question when we say we are Striving to be agile because they ask us to as well So the leadership wants an agile development for the software But then they want a gun charts with a budget for the last for the next four years and To ensure what is going to come out. So this is the problem. And this is exactly why we have built Iguido So once the governance becomes agile, but you have to change the system Are you you manage things once that become agile? Then you have the same culture at all the levels. Actually, you don't have the levels anymore You have different competencies different focus, which is different But might also be the same person working in two different processes of the company So it's no longer role-based is process basis competencies based How do you do that some companies will never do that? Let's say it as it is some companies have a different culture. We found three Cultural characteristics you should look for in order to understand if that's doable in that company or not So the first one is they need to be value flow driven that company needs to be there to create value So if that's the case, they will listen to new ways of creating value and they eventually if you're good Proposing the smallest thing that will change them not the biggest change of course They will start changing Second thing they need to be complexity aware So they don't need to be if they are a company that tries to control reality and have reality follow their plan There's nothing you can do about it and unless that changes over time because probably they're crashing Which is a thing that is happening a lot a company coming to us a we don't know what to do performance in going down Yeah, I bet it because you're working like it was meant to be in the 60s not today Third third thing they need to be evolution oriented Now there are so they don't want to preserve the status quo. They want to grow now There are very good managers from the old school that have been taught to gaunt plan reality But they have these three characteristics in that case They're suitable for being a leadership that enable all that you're asking for but you have to tell them how to do It and our way is introducing a little to I've been working and then I wrap it up I've been working in a big project with European Commission, and it was traditionally managed as you can imagine so I was I was called for Like a pivot point between technology management and stakeholders, which is a very nice position to say, okay This is how I work. I introduced a Kanban board. There were seven teams doing the same thing without speaking to each other I said whatever is not on this board doesn't exist to me. I don't want to talk about it. So I can update it I will do it for you. Okay. I don't want you to change your way work, but this is how it is for me This is how I can provide my best value. So I introduced this mall to Well after to well, of course, nobody wanted to use it I had to update it after two months that people saw the difference in having that small change I entered the project office a room and there was a Kanban board on his wall I didn't have to say anything. I just looked him and he said well, I like the way you were working I want to introduce this so things started to change, but that's because that person had these three characteristics He just didn't know how to do it Sorry, I think I'm over time. Thank you very much. Thank you


Okay, very good morning to you. Hope you're doing well. It is Wednesday the 17th of November and going to cover a few different things in a briefing I'm going to talk about the fact that US stocks advanced yesterday the S&P 500 Dow Rup 0.4 and 0.15 percent each respectively the Nasdaq Marginal outperformance up three quarters of 1% we're going to talk about the potential nomination of the next Fed Chair given some comments that we've heard we now have Somewhat a timeline of when to expect that announcement potentially at the back end of the week We're also going to do an update on the EU COVID situation restrictions coming back in force in the likes of Germany Austria Ireland and others so we'll have a look at what exactly is happening there and the impact That's having on the divergence with the euro against a dollar at this point in time and in some trending stock news You might have seen lucid one of the recent SPAC deals and EV maker Which is not profitable at the moment is now bigger than forward motor Quite incredible at the moment. It seems like the the EV makers are now the new Pumped-up stocks stocks at the moment and certainly that was evident yesterday So we'll have a look at some graphics to put that into context We've also got some updates on Netflix as well That's worth noting from a single-stop perspective. We've had UK inflation apps morning Which I'll comment on in the moment We've had all inventory data and then we'll have a look at the calendar for the day ahead, but to kick things off Yeah, let's start with the dollar So I've got the dollar index up to the side of me here And this is looking at dollar index futures and you remember last time we kind of had this particular Chart up the dollar index was trading at 95 when we're talking around that area was quite key from a technical perspective You can see here going back to the bottom of that 2019 move The volatility on the post or initial onset of the pandemic the recovery We had in September of that year and in the retest We had just around a month ago or so and the breakout that we've had since that point in time obviously coming at mid the Inflation figures that we've been seeing globally particularly in the US That's that's six plus percent reading that we had last week has really Acted as a catalyst for the technical breach for then the big push-up that we've had and Technically the dollars come to its next kind of strategic point from a technical perspective I'd say at 96 which starts to incorporate then some of these previous lows that we had in the end of 2019 and also around the summer in June of 2020 So definitely worth keeping an eye on this and we'll look at the euro in a moment But certainly the dollar Advance has put the yen against the yen now to its weakest in more than four years In terms of how the yen is performing against the greenback and the euro is at its lowest level since July of last year in 2020 just to add some context but looking at the overall broader charts then So euro dollars a little bit lower as you would imagine there was a momentary flicker Where the dollar just kind of shot up momentarily and hence the rationale behind here It wasn't one single a headline related move But you can see the s2 there acting as a support area on the daily pivots You can see a divergence though between the fact that euros lower Predominantly weighed on by some of that dollar strength albeit. I would say that that dollar pop overnight has been faded And the Dixie's pretty flat as it is at the moment obviously still holding on to recent gains of late But cables had a bit of an extension and is outperforming rough 35 pips here in in Sterling dollar and this comes after UK CPI has come out higher than expected at 4.2 percent Against expectations of 3.9 the core reading also coming in higher than expectations as well The core reading and just grab it here Was 3.4 percent above the expected 3.1 So what does this mean? Well, remember we had the jobs data yesterday from the UK and actually the furlough impact Not as as bad as many had feared now with the fact that this inflation figure is not Exactly a surprise the Bank of England have communicated inflation is going to go toward 5% in the coming months But the acceleration is more rapid than analysts were anticipating and so Many would say this kind of locks in now a December rate hike at the next meeting from the Bank of England given how Perhaps their communication misjudgment, but how close that conversation was in the previous meeting They obviously didn't pull the trigger one would imagine now that they Don't want at least a market will believe that they will go ahead now and and execute that at the end of the Year, but we are talking about Andrew Bailey in the Bank of England. So I Wouldn't count your chickens just yet Otherwise elsewhere equity markets pretty much sideways stock index futures in the US pretty much flat Just consolidated from the push-up yesterday. That's reflected in t-notes. Nothing really too interesting happening there perhaps crude oil just a little heavy Amid some of the strength of the dollar overnight, but all in all still fairly range bound at this point in time Nothing really too dramatic or interesting happening there specifically in the price right now and then gold Just coming off the lower bound of where we finished on the end of the US session yesterday So back up just hugging around the pivot level in the futures up for four dollars for the time being so let's jump into some of the news And to go with Asia pack first although the US did finish positive the MSCI Asia pack stock index which had been rising for four consecutive days is snapped that win streak in particular Japanese exports year-on-year did come in quite a bit softer than expected and and a Distinct slowdown came in at nine point four percent year-on-year for October below expected nine point nine and a slowdown from prior months 13% to draw some attention And obviously that helped exacerbate that that move in in dollar yen as well in the overnight session Which trades higher this morning Otherwise moving into some of the news stories Let's talk about Biden and the Fed chair. So basically Bloomberg had a kind of a source piece is when they cite someone familiar with the Conversations informed with the selection of the next Fed chair and they reported that Joe Biden will decide quote in the next Four days who will lead the Federal Reserve and obviously this is to horse race Jerome Powell the existing Fed chair or Fed Governor Leo brainard as the next credible opposition if you like to appell's reappointment now Couple things for one In the in the betting market power is the slight favorite You can see here actually that you know Bostick Ferguson Raskin any of the others there, you know might as well discount them They're not at all in this race. It's definitely between Powell and brainard You can see actually betting odd volume spiked yesterday As some of these latest source comments are starting to hit the tape And as you can see there's as we're going into let's say the four-day countdown I'd probably expect this to continue is a convergence of their odds coming towards each other As there is a degree of uncertainty or whether or not power will indeed Secure another term so at the moment power is still favorite But it's becoming more and more closer race as time goes on and we've got another four days to run of those sources to be believed So it could be that this comes out over the weekend Perhaps you could say that's tactical to avoid any market disturbance or initial breaking of the news Give the market a little time to chew over it on a Saturday and Sunday before market reopens for a more orderly response I can see that point of view. However, I don't necessarily think that even if brainard does get the nod And power has to step aside. I don't think that's a hugely dramatic event Degree of continuity is there market is very well informed about who brainard is and what her stance on policy is If anything as I said before she has a slightly more dovish tilt and so perhaps then that Is it is a supportive thing for some of the directional trends that we had with some of the equity movement to the upside of late and so on But yeah, that's that Before I move on just very quickly Don't forget to check out the hub the content hub on amp find me comm It's absolutely free and I added some new content In the careers section, you can see there's different sections here as interviews I have with industry experts as market analysis on different topics and career sessions So if you're a student, I know a lot of people have messaged me about applications at the moment for spring weeks And so on if you click on career sessions You can access the whole kind of suite of videos here that might be particularly useful for you and one we put out yesterday It's the first of some very concentrated Interview questions and how to tackle them and we did one yesterday This is our head of China who was a former Morgan Stanley equity trader and he We covered basically the subjects of how do you respond to a question that you really don't know how to answer It's kind of a classic one that a lot of can disrupt a lot of the interview process for a lot of students So do check that out. Otherwise, let's move back on on point to COVID and let's talk about the EU And I did mention this yesterday. I've mentioned it a couple times now In the last week, but there's been some movement island for one bars and restaurants must close by midnight now Cinemas and theatres must require proof of vaccination and people should work from home where possible These are the new measures that were announced by the Irish Prime Minister To deal with surging infections and rising hospitalizations that they're seeing Germany at the same time It's worth noting actually that Island Vaccination rates actually some of the highest in the world. Whereas Germany They actually have with less than 70% of fully immunized at this point in time in Germany And so they're lagging behind other countries like Spain Italy Portugal Portugal real standout actually on the upside for vaccination take up the country Germany reported yesterday the spread of the disease is accelerating cases over the past seven days and now a record and Deaths jumped to 265 to steepest one-day increase. It's the late May period of this year And then finally Spain the government in the Basque region is set to announce fresh restrictions Given some of the elements happening there and so what does this look like from a case rate point of view? Well, here you can see Austria at the top, which has been very aggressive Obviously having a necessity to do so to go back into restrictions Island as you can see Also very high in context of where we are in the UK Germany continue to head in the wrong direction and obviously But there's there's a difficulty here of jostling for position within the newly trying to form coalition government And so therefore obviously putting the nation back into an onerous lockdown Can have political consequence for favability and no one really wants to do that but then there's a Obviously a health crisis unfolding and so quite a tricky one for Germany to make decisive decisions at this point of time But quite quickly of course for their over economy and that of the eurozone France Portugal Spain much lower As I said vaccination rates here are much better Than what they are in Germany at least and so yeah, I mean from a euro point of view I mean very much just a mirror image of what we were just discussing with the dollar But if I put euro dollar on a daily chart here and you can start to see some of the price movement Obviously we talked about a week ago or so the importance of around that 115 mark Which was that peak in 2019 2020 and the breakdown of that has created some quite rapid deceleration or decline I should say in euro dollar coming on the back of the divergent play between a really developing in a negative way COVID situation which is gonna push back further The commencement of normalization of ECB policy Comparative to heightened inflation risks Relatively controlled health situation with an economy picking up. We had US retail sales the the firm as they've been since March Yesterday Walmart Home Depot showing really robust demand even as inflation Squeezes kind of purchasing power and that's then leading to the idea of rates rising sooner in the US But rates remaining on hold or policy on hold in Europe and hence then this downward direction with the technical breaches just being fairly Firm at the moment for euro dollars the next downside target really you can see is not until we get to the base of some of this price Consolidation we had around June summertime of 2020 and we'd still have another point or so to run beyond where we're at at the moment In that respect so yeah, definitely quite interested to continue monitoring the situation is obviously the worst Covid cases get the more Stringent the lockdowns the more economic impact that has the slower than it is for the ECB to be able to move on there on their policy All right, a couple of individual stocks stories. I just wanted to cover and gonna start off with one Which is a SPAC deal actually SPAC deal has been a little bit hit and miss in terms of their success, but certainly this is now proving to be one of the Definitely more successful ones and this is the electronic vehicle start-up lucid and their market cap yesterday went to 89 billion Which actually makes them bigger than Ford motor, which is just insane If you look at the chart here, I've got the black line Which is the lucid market van valuation then got the Ford market valuation and the GM one and actually You know lucid overtakes GM and Ford valuations in just one day GM slightly larger and forward at this present point in time And it came after the companies executives told investors that Reservations for its first vehicles and jumped and that production plans for 2022 were on track So those two things have got people in what already is a quite bullish mindset market in the EV space Really pumps at the minute and the company isn't actually profitable It's still in the early days of generating revenue Q3 revenue check this out Q3 quarter revenue was $232,000 and The company is worth more than four in GM. It's just in it's crazy market at the moment And that didn't really come from selling any cars either It came from a battery deal with a formula E electric racing leak So actually reported a net loss of 1.5 billion through the first nine months of the year So yeah, it's super interesting Rivian we had Then you know monster Performance out of the IPO and now you've got this happening as well So be really interested to see how this plays out just given the phenomenal rises We've been seeing these particular names of late The other thing that I want us to touch upon was Netflix. I thought this was just quite interesting really As you know Netflix and their quarterly earnings are always very much focused on their subscriber rates But as the market becomes ever-increasingly saturated, this is a really difficult metric I think for the company to handle in terms of longevity of managing their stock price from a board's point of view And so the company has taken the decision that they'll begin regularly and I understand from reading some of the articles There's weekly reporting viewership numbers for its top programs and films so Quite a distinct and major shift in their strategy because normally that's not shared And they they're normally quite guarded over those types of figures But it's kind of a similar thing to what you've had in other companies, you know take Apple for example trying to shift away from the over dependency of the share price based on markets perception of the iPhone solely but as Apple has tried to diversify it's also tried to pivot and spread, you know diversification is key to manage volatility And as Apple have done shifting to services and other wearable products the watch the earbuds and so on and so forth, you know Netflix is looking to do the same and I do think that this is quite an appropriate way of doing that and You know reporting weekly figures to me. I think is it is good. I think doing it weekly is also strategically quite important I think if you left it quarter to quarter and you had these quite lengthy blackout periods where the markets left guessing that's always a very Delicate and difficult situation to handle and so better than that you have more full Transparency, I think they've got an auditorium to verify their numbers and stuff like that So they should come with credibility And then the market can always price in the reality of what's happening and that then starts to Mitigate volatility upon the release of an earnings for example and Netflix obviously has larger deviations than a standard stock I would say Over over recent years So yeah, and the other thing of course as well for Netflix is that if you think about most blockbuster series that come out Although there's Amazon Prime and Disney and these other Apple TV and so on competitors in streaming space I mean Netflix is is the is the premier kind of market leader in content They spend an awful lot on it. So I actually think it's a positive as well in the sense that These are numbers that they know Netflix against its peers. They're gonna outperform It's probably gonna be better. They've just got more content And they come out and they throw some serious dollar at just pumping out, you know, there's red notice I think there's narcos Mexico series 3 at the moment. You've obviously coming off the back end of squid game I understand a squid game 2 coming out all these different things and I think those numbers will look really attractive Against their competitors and thus then I think then shifting away from subscriber base this will be a nice way to Clear out then that competitive differential in Investors sense. So yeah, quite interesting. The other thing is I'd love to get your comments on this So drop me a comment on the on the channel on the video I read I was just reading very very briefly. I was reading last night about redefined meat and basically, this is an Israeli start-up and They've basically Said to have cracked what's seen as the holy grail in the kind of catering business and the food industry Which is they've managed to really inject juiciness Into meat. So if you think about like vegan plant-based meat It's generally being like chicken nuggets and patties like beyond meat burgers things like that But apparently this firm can create like beef like real steaks and lamb flanks and things like that And it's been actually adopted by some big restaurant names including some Michelin restaurants as well So one would imagine the quality is is there and apparently then this meat that's being Printed It has the same structural components that resembles beef or chicken visually and in texture And apparently research suggests then that 3d printing can insert then the specific Layering in of safe fat into the content of other soy and proteins and so on that mimics them the composition of real meat And marbling which gives a better improved taste. So obviously I've not I've not eaten this yet Dying to try it, but I just love to know your guys thought. What do you think about 3d printed meat? Hit me up. Let me know what you think. Would you eat it? Would you not? Why do you think it's a good thing? Bad thing obviously is a lot of climate change strapped on the back of that as well So yeah, hit me up with your thoughts and let me know what you think Otherwise, let's just look at the date. So we've already had the UK data We've had well, we've got the EU HICP Reading coming out at 10 a.m. This morning, but this is the final reading for October So not expecting any fireworks there this afternoon US housing starts building permits Canadian CPI data is what's coming out You've got the AP or the DOE or living trees and just a quick Refresher the API's came out last night. You had a build Around half of what was expected at six hundred and fifty five thousand cushing those a draw of two point seven nine two million Probably the standout there as I said that will date it out this afternoon speaker wise You've got feds Mester Evans Bostick speaking afternoon and evening London time Mester a hawk non-voter Evans A dove a voter Bostick Hawk voter The latter two will be just after 9 p.m. So after the Wall Street close You do have the Christine the guard speaking today, but there's no text expected So then ECB Schnabel's one to look at Because schnape will be talking on economics and monetary policy outlook for the eurozone So could be potentially some comments there to keep an arm particularly in the context of what I described with the COVID and Implemented restrictions that we're seeing across different eurozone countries at present that'll be at 2 p.m. All right, that is it gonna let you guys get on with the day have a good one and If you're not already subscribed to the channel and you're watching this on YouTube Love for you to hit that subscribe button. Drop me a comment Love to get engaged engagement on the channel, and I will see you tomorrow. Take care