Nigeria has lost $100 billion to the Northeast conflicts, says UNICEF. However, it's obvious that the full human cost of the war is much greater. The conflict which became fierce since the early 2000s with Islamic insurgencies Boko Haram and the Islamic State of West African province has found one of the world's worst humanitarian crisis with millions of people dependent on AIDS and no one knows when it will all end. This is our first hot topic this morning on the breakfast. Our second hot topic will take a look at thrombosis and means of prevention. I can almost hear you say thrombosis. Stick with us to the end of the program. When we get to our second segment and find out exactly what thrombosis is all about, that's our second hot topic this morning. We'll also be taking a look at the front pages of some national head newspaper. First, to find out the headlines that made it to the front pages of those national dailies. I am Maureen Menonwies. Good morning to you. It's so good to have you join us this beautiful Friday morning. How are you doing? So finally, the much expected judgment came about on Wednesday and mixed feelings naturally have trailed it. They all progressively in Congress. They are excited. They believe that they have indeed fought a good fight as the court upheld their victory. The APC are excited. Well, the PDP are not excited at all. They describe it through their presidential candidate, former Vice President Artigo Abu Bakr, that he was a miscarriage of judgment. They are very displeased. The Labor Party, through their own presidential candidate, Peter Ruby, have also said it is short of expectations and they are going to appeal it. They are saying that the Supreme Court has a responsibility to have the final say on that. What say you, Nigeria? What say you? It's been an interesting week, no doubt. Even the Vice President, Kasim Shatima, has said he's going to retire from our Vice President, Abu Bakr Artigo, to a breeding of local domestic animals. It's been quite an interesting event, the week which we're all looking forward to seeing. We've seen it finally. All eyes on the judiciary. Well, it has come and gone. It's a Friday and we're all excited that the week is winding down so that we can rest from all the work that we have had to do during the course of the week. Presently, President Bola Tinobu is in India where he has gone for the G20 summit, which should take place between the 9th and 10th of this month. He traveled with the country's private sector leaders. We saw that list. When I saw that list, I thought, wow, this is quite strategic. Well then, the APC, as I said, they are very excited about this judgment and they are saying that the Labour Party and the PDP should accept it and join them to move the country forward. But they are saying, no, this end over. We're taking this matter up. We're going to appeal this judgment. Of course, we all expected it. We knew that it's not going to end this month. They're going to push it forward. But then, would there be a change at the Supreme Court? We didn't work with the result of this court that has just ruled on Wednesday. We don't know. We'll just keep our fingers crossed and continue to watch the politicians do their thing. Indeed, it has been a very, very, very, very crucial period in our history as a people. INEC has remained a body that Nigerians are very, very critical about. They're very critical about because of the critical role that INEC plays and should be playing in moving this country forward. Have they played their role effectively? Have they compromised? These are some of the questions that we keep asking. And, well, the court has ruled that INEC is not mandated to use the electronic means of transmitting the results, even though it was one of the reasons why many people actually went out to vote in February. But then the courts have ruled. The court has ruled. The judges have decided. It's the Friday Flex edition of the Breakfast on Plus TV Africa. I am Maureen Menongue-Ziguan. It's so good to have you stay with us this morning. Let's take a break now. Come back. Oh, let's forget. We have top trending to give you. We'll have the first and second top trending. I was just going to say let's go to the front pages of the newspapers, but I almost forgot that we have the top trending for you. So let's go straight to the top trending. First up trending, students give unilag management 48 hours to reverse tuition fee hike. Well, the students, the University of Lagos under the ages of student solidarity group against fee hike have given the university management 48 hours to reverse the increment in student tuition fees. In a statement signed by one of the leaders of the coalition FEMI at day A on Thursday, the union threatened to embark on a massive protest if the management failed to meet the demand within the time given. The student leaders at the university met with the school authorities over the increment in July, but the management refused to shift its ground on the matter. This led to a protest by the students leaders in Lagos on Wednesday during which police personnel shot at them. Well, at that time the police disrupted the peaceful protest and arrested some of the protesters, including an activist, Philip, or Latino. The group have now declared that intimidation and harassment they faced during Wednesday's protest from police would not distract and deter them from pursuing their demands against the injustice meted out to their fellow students by the unilag management. They described the protest against fee hike and on the funding of education as a powerful display of class consciousness and collective action, claiming it was a direct confrontation rejecting the non-liberal siege on public education. That's how they describe it. They also called out the professor of the management of the University of Lagos into what the classified as the deployment of armed police officers who shot canisters of tear gas to disrupt the peaceful student protest leading to the illegal arrest of some of their associates, including Adeye, or Lauren Femming, or Latino, or Philip, Aduo, Adiodele, Igua, Yisa, Temitope, and others. Well, the group went further to explain that their arrests were intended to stifle their voices and instill fear and deter their peaceful demonstration, but consider it to have failed woefully. Well, moving from that first top trending, we'll go to our second top trending. The president, Tanubu, has secured $3 billion investment for Nigeria Steel Industry. That's President Bola Tanubu who went to India for the G20 Summit. Well, that investment is to boost the steel industry in Nigeria. It is a good thing. This has been revealed in a statement by the Special Assistant to Media and Publicity, Mr. Abdullahi Haruna, to the Minister of Steel Development, Prince Jaib Aoudu, in Abuja on Wednesday. The president made the commitment during the Nigeria-India Economic Roundtable in India. The pledge to make the $3 billion investment in iron ore processing and steel development in Nigeria was made by Dindal Steel and Power Limited, one of India's foremost private steel producers. The pledge was described as a result of extensive discussions between President Tanubu and the leadership of Dindal Steel and Power Limited on the sidelines of the G20 Summit in New Delhi, India. Well, Aoudu has expressed his jubilation of the development adding that the pledge was a game changer that would revitalize and transform the nation's steel industry and appreciated the president for his exceptional efforts in this development. Nigerians are having questions about it. Some are very excited and saying kudos to the president. And some are saying, well, Aoudu will begin to see a change. Aoudu will begin to see it reflect on the Ajay Kutah Steel company. They won't be very excited or take it seriously. But then this is a step in the right direction. The president is working. He's in India and seeking to get investment into the country. However, you know, 10 countries have been listed in Africa to have in regards to FDI and Nigeria is not on that list. 10 countries doing well, but Nigeria is not on that list. Hopefully by the time this year is over, by the time we're looking at the first quarter of 2024, Nigeria would have joined that list of the top countries in Africa who are doing well with regards to foreign direct investment. Well, those are top trending this morning on the breakfast. Stay with us. We'll come back in a moment with the front pages of the national dailies. Some of them. You may want to know what stories made it to the front pages. Stay with us. We'll be joined by our guest who will be analysing these front pages.


If you're joining us online, welcome, this is day 13 of the 21 Day Fast that we're participating in with some 6 million intercessors across the face of the earth, the Isaiah 62 Fast on behalf of Israel. It's an unprecedented historic prayer initiative and we are honored to be a part of it. Isaiah 40 verse 1 says comfort, O comfort my people, speak kindly to her speaking of Israel. And one of the primary ways that we comfort Israel is to talk to Abba about Israel in the place of prayer to agree with his heart concerning his heart and his plans and intentions for Israel. So if you have your Bible, we're going to jump right into prayer. You can turn to Habakkuk 3, a little book at the end of the Old Testament. And in verse 2, it says, Lord, I have heard the report about you and I fear. Lord, revive your work in the midst of the years. In the midst of the years, make it known. In wrath, remember mercy. And if we turn over just a couple books to the left, to the book of Micah chapter 7. Verse 14 says, make it my glasses. Shepherd your people with your scepter, the flock of your possession which dwells by itself in the woodland. In the midst of a fruitful field, let them feed in Bashan and Gilead as in the days of old, jumping over to verse 18.  He does not retain his anger forever because he delights in unchanging love or he delights in showing mercy. So Father, we just thank you for this privilege to stand on the wall by faith and to pray for Jerusalem and to pray for Israel. To agree with your heart and to agree with our brothers and sisters across the earth in this prayer initiative. We do just remind you of your word. We remind you of the days of old, God, when you bore your right arm into time and space over and over again and you revealed your power and your glory on behalf of Israel. We remind you God how you parted the Red Sea and brought them out of Egypt. How you fed them and watered them in the wilderness. How you established them back in the land in 1948. How you protected, preserved the nation of Israel time and time again, Lord, against countless enemies. And we just say, Lord, would you do it again? Would you remember mercy in this hour? Would you demonstrate your glory and your power again to her? We say, Lord, restrain your judgments against her. In her treason against you as king, Lord, we're asking that you would remember mercy today. That you would pour out unchanging love upon Israel today. In Jesus' name we pray. This is our cry. You never change. You remain the same yesterday, today, and forever. And you uphold your covenant promises to Israel today, Lord. So we lean into your heart, that heart that longs to be gracious to your people. That heart that longs to show mercy, that delights in showing mercy. Your heart, God, of a shepherd who longs to make them lie down in those peaceful pastures. God, we lean into your heart and we just say, would you bear mercy to her? Would you restrain judgment against her, God? And pour forth of your loving kindness on Israel today. In Jesus' name. Good Shepherd, people of Israel. Upon Israel. Have mercy, Lord. On chapter 10, verse 27. Jesus, as the good shepherd says, my sheep hear my voice. And I know them. And they follow me. And I give eternal life to them. And they will never perish. And no one will snatch them out of my hand. My Father who has given them to me is greater than all. And no one is able to snatch them out of the Father's hand. So Lord, we thank you that your covenant promises to Israel are yes and amen today. That every promise made to Israel, to Jerusalem, God. You are faithful to uphold. Good Shepherd, and that in you is life. And so we pray, Holy Spirit. The eyes of Israel to see Jesus, Messiah, as the good shepherd. That you would open for its voice. And that Israel would follow you again, Abba. As their God, as Messiah. Yourself as the good shepherd. To your people, Israel. Your possession in the apple of your eye. We're asking for a spirit of revelation in the knowledge of Jesus. To fill Israel today in your name. So thank you. Thank you for your faithfulness. We're going to go into a time of corporate worship now. And then in a little bit, we're going to come back into a second prayer cycle for Israel. Let's just begin to lift our eyes. Just behold the Lord. We're going to agree with heaven in that place of worship concerning who he is. Jesus found me just as I am. The presence of your majesty. The presence of your majesty. The presence of your majesty. The presence of your majesty. The presence of your majesty. In that posture of worship, we're going to shift back into our second prayer cycle for Israel. The Book of Acts, Peter's Sermon at the Pentecost. Men of Judea and all who dwell in Jerusalem, let this be known to you and give ear to my words, for these people are not drunk as you suppose, since it is only the third hour of the day. But this is what was uttered through the prophet Joel.  Your young men shall see visions, and your old men shall dream dreams. Even on my male servants and female servants. In those days, I will pour out my spirit, and they shall prophesy. And I will show wonders in the heavens above, and signs on the earth below. Blood and fire and vapor of smoke. The sun shall be turned to darkness, and the moon to blood. Before the day of the Lord comes, the great and magnificent day. And it shall come to pass that everyone who calls upon the name of the Lord shall be saved. Father, we just pray for the nation of Israel, Father. We pray for your chosen people to come to you, Lord, that the Holy Spirit would fall down over that nation, Father, and the scales that are on their eyes, Lord, will be removed, Father, and they will be able to see you clearly as the Messiah, Lord, the chosen one. Thank you, Lord, for your goodness and your faithfulness in Jesus' name. Do you, Jesus, after seven, verse 20, give truth to Jacob and unchanging love to Abraham, which you swore to our forefathers from the days of old. And so, Lord, here we stand as the prayer cannons of the earth are aimed at Israel. We join with that fire, God. We join with the agreement of your heart. And we say, Abba, would you do it again as in the days of old? Would you release your call? Would you release your voice? Would you release your glory? Say, Father, give to Israel. Let the blinders of deception and of truth that breaks in life to every man. Lation, would you break in to the city of the great King, Jerusalem? Would you break into Israel? Would you break into the hearts of your people, God, scattered across the face of the earth? Hammer that shatters every lie and every deception that opens up hearts got to receive the salvation truth of Jesus as Messiah. We pray, release truth to Israel. Jesus, that you are the way. Would you walk in to Israel as truth? Would you walk into Jerusalem to the hearts of your people, God, across the earth as truth? And would you let every lie give the Jesus as Messiah? We're praying, God, for just hearts to unlock to receive truth today. We're praying for minds, God, to be cleared of all deception in the name of the Lord Jesus that truth would be received in the hearts and the minds of your people. We say, Jesus, Messiah, the man who is called truth, the man who is called life, people Israel in Jesus' name. To their dreams, Lord. Visions in the day. Branding the hearts of the rabbis. With Abba, hammers to fall in hearts and minds of your people, Israel. We thank you for your faithfulness to do that. We thank you for this hour. God, we thank you for the privilege to stand as watchmen on the walls of Jerusalem even this morning. We thank you for what you're doing in these unprecedented times, Lord. On behalf of your people and on behalf of your church, God, on behalf of this place in this city, Lord, we don't take it lightly. And Lord, I ask that all that is transpired, all the intimate partnership with you in the place of prayer and all the worship and agreement with heaven concerning who you are, the declarations of your worth and your faithfulness. God, I ask that you would multiply them, many hours over right here at this altar, many hours over throughout our city and our nation and the nations of the earth that there would be prayer fires burning God on corporate altars and prayer fires burning on home altars on earth as it is in heaven. We thank you, Jesus. We thank for this honor as your Godly ones.  And amen. Well, thank you for coming downtown this morning and praying with us and agreeing with us in the place of worship. Thank you for joining us on the live stream from the cities and the nations you represent. If you would like more information about the Isaiah 62 fast, maybe just why Israel, what's the big deal about Israel and its specific resources, prayers and scriptures that we can pray and declare, you can go to isaias62fast.com or to our own radiant.church slash prayer room for more information. Otherwise, we're back here at noon and 6.30 tonight. God bless you.


I said, well, we can't cancel because even if five of you had shown up, I was going to be here and talk. What was the cause of the United States Civil War? Well, don't come with an easy question, right? I mean, I think the cause of the Civil War was basically how government was going to run the freedoms and what people could and couldn't do. What do you think the cause of the Civil War was? I'm sorry? I'm not running the president. I wanted to see yours a good thing on the cause of the Civil War. I mean, I think it always comes down to the role of government and what the rights of the people are. And I will always stand by the fact that I think government was intended to secure the rights and freedoms of the people. It was never meant to be all things to all people. Government doesn't need to tell you how to live your life. They don't need to tell you what you can and can't do. They don't need to be a part of your life. They need to make sure that you have freedom. We need to have capitalism. We need to have economic freedom. We need to make sure that we do all things so that individuals have the liberties so that they can have freedom of speech, freedom of religion, freedom to do or be anything they want to be without government getting in the way. Thank you. And then in the year 2023, it's astonishing to me that you answer that question without mentioning the word slavery. What do you want me to say about slavery? You answered my question. Thank you. Next question. And that action is that the Confederate flag is coming off the grounds of the South Carolina State House. Thank you.


Today we are opening the new OTS tournament pack 17. What's up guys we're back with another video. Today we are opening 100 OTS tournament packs 17 in search for the ultimate rare infinite impermanence. So infinite impermanence was first printed in first edition flames of destruction and that's what I have right now the secret rare it was reprinted a couple of times it has always been either short printed or a secret rare or something like that really hard to get now they have is an ultimate rare but the newest structure deck actually has it as a super rare so it's a little bit more accessible there however this is probably going to be the most expensive version so that's what we're trying to find in here there's also an ultimate rare utopia as well as the black luster soldier soldier of chaos let's hop right into this this is going to be a longer video because we do have 100 packs so let's see what we can pull I'm not sure what else is in here besides the ultimate rears but I think there are usually some pretty good reprints on these OTS packs so let's see Jungstinkron we got a resonance and resonance insect oh and I forgot the giveaway are these three sphinxes we pulled these out of the exclusive pack the other day all you have to do is like this video be subscribed and let me know your favorite card from this set I figure in permanence we'll have a strong support here next up let's get into the next one we do have a hundred packs this is going to be a little bit of a longer video not crazy long and I'll think because there's only three packs but you're gonna go through them and see what we can pull a little bit faster pace because there are only three cards per pack and we'll just kind of try and see some decent cards you know maybe some reprints that I have not seen great emperor penguin that's a funny reprint super air that's very nice I'm wondering when they're gonna stop calling it OTS tournament pack and like change the name because they're there's yazi cool outstanding dog maren that's one of Chelsea's favorite cards they did all the other ones through one through eight and here they're going to 17 so I don't know if it's gonna end up being OTS you know 75 or something crazy like that but at this point they they stuck with it okay let's try and get that in perm obviously that's the one that I want the most so getting two of those would be great usually you get five ultimate rares in these in these boxes occasionally you will get six though so we're looking for two in perms three would be absolutely crazy and then of course um I guess utopia school we do have the cr version of that that just came out but for some reason they went ahead and reprinted it again as an ultimate rare I guess because it is the zeksel card you know it's the cover card the blue eyes of zeksel or whatever you want to say but scrap rapper a dark magician scrap raptor is I think a pretty good one so I don't really know what to think about that it's still a cool uh cool card I'll probably keep the utopia the black blaster soldier there's another scrap raptor the black blaster soldier has also recently been reprinted as a ghost shirt it still doesn't have a low rarity printing it has secret rare in one of the battles of legend then it has ghost and ultimate rare there's a power bond super rare that's pretty cool so that's that was an interesting choice I think a lot of people were not happy about that one because that card's not that good it's very cool but it's not that good ice barrier token these tokens always do really well in terms of value which is kind of funny I guess because there's not too many of them in the tournament pack and then they're specific to a certain you know deck or something so you can only get them from one place so far we've not had an ultimate rare all super rare so in this set it's common supers and ultimates that's it that's how it is for ot all the ot s all right slow start slow start let's keep it up let's see what we can pull junk sink ron flawless perfection of the tinny okay let us see what we can do oh there it is infinite impermanence I almost didn't even notice that it was ultimate at first okay let's check the back because usually these will have a lot of indents on the back so you guys you can see you can see the I said see a lot right there there's a lot of the artwork pushing through the back it's not as bad as ot s 16 if you guys remember that the cyber dragon you can see the entire artwork back there but that is a very nice pull I'm not sure what the value of this is right now I'm sure it's fairly valuable because the card's just really good so that's a very good start to our opening I was saying something before that and I can't remember what it was but we're getting close to 100,000 guys and we're going to be doing some pretty cool stuff we're doing a live stream before we get to 100 until we get to 100,000 that's the plan and once we get to 100,000 you guys know we're opening the retro pack to booster box there's a cyber dragon Nova that's a good reprint and then after the and then we're also opening a metal raiders pack we're opening let me think there's something else oh retro pack one heavy pack possibly another retro pack to mini box we might have nine of those so that'd be pretty cool maybe I'll actually I might do that in a separate video so maybe not that one oh utopia nice ultimate rares we've gotten two ultimate rares so far we're hoping for that six ultimate rare box that would be really cool utopia and imperms and now we're just missing the blockbuster soldier I would not mind if we just got you know three imperms and one of the other two that would be pretty nice okay even though I do like all three of the cards I think they're all pretty cool cyber dragon Nova very good all righty speaking of new sets this is one of the new sets but there are many many new sets coming out soon we have burst of destiny coming up we have synchro storm coming up then later we have battles legend we have the battles legend is december I think or brothers sorry brothers of legend then we have in november I think is the gold series so that's going to be really fun opening gold series and of course in february we've got the what is it called battles of chaos or something like that that is going to be really cool it has dart and magician and blue eye support so as you if you know me that's about all you can ask for in a set both of those in one set should be pretty fun I'm sure some people are going to be like too much dm light too much dm era support but hey guys it's it's awesome just accept it it's awesome so far two ultimate rares I figure scrap raptor is one of the best supers I'm not sure about some of these other ones I'm sure some of them are because usually there are some pretty valuable super rares in these sets let us see what we can pull oh right to it flawless perfection of the tinyee let's get that imperm I would love to have a play set to replace the secret rares and I just keep the secret rares in the binder okay on to the next one false perfection of the tinyee let's see can we pull the last ultimate rare or can we pull a second imperm that would be great we got the basil rose shoot interesting basil rose shoot you guys also let me know in the comments what the best cards in here are or your favorite card etc so that's uh I know what to look for for the you know all these cards that I have let's keep going I will be checking the prices of course when I'm doing the editing and I figure out you know a little I'll learn a little bit more there like if something's expensive okay it's probably pretty good but uh but you know your comments are always helpful cyber dragon nova another super rare how many super rare princes that have is that two or three now there's a lot of prints of that card actually most of them are low rarity scrap raptor I think scrap raptor started as it was a common right and now it is a super rare so that's probably a nice upgrade because if you start as a common size to have a foil print later okay just two ultimates so far flawless perfection and the two ultimates did come right next to each other so it's possible that will happen again we will see utopia ray v nice and the basil rose shoot so there's some utopia stuff in here i'm pretty cool got penguin soldier the great emperor penguin only seen him twice so pretty rare penguin you got there pretty rare penguin all right come on baby oh resonance insect yet again where is that second imperme let's go give it to us shaman of the tiny basil rose shoot very nice come on here we go teach you under magician black luster soldier soldier of chaos there is the third ultimate rare we now have all three so let's check these out all three ultimate where it's which one is your favorite let me know in the comments honestly these two look really really cool i mean this one looks cool too but that those do look very good i mean even though they're not the best reprints since they do have a ton of prints but well not the black luster soldiers just not a good card but utopia i think just has a lot of reprints junk sink ron we got the penguin brave very nice so we've been three what did i just say we've gotten three ultimate rears so we are hoping to get at least well obviously at least two more three would be fantastic we would like to get that imperme for the deck let's go got penguin soldier scrap raptor very nice okay let us see junk sink ron great emperor penguin okay let's see teach you under magician and vessel of dragon cycle come on second imperme we were hoping because last time in ot s16 we did not get a cyber dragon so that was kind of sad we didn't get a cyber dragon unfortunately it would have been nice to be able to open that uh a second one at least because i remember i sold mine to josh because he was looking for one so i don't have one right now i don't have one but i will get one eventually scrap raptor very nice still got a lot to go still a lot of hope for that second imperme penguin soldier ice fairy token yeah my imperms will not be for sale because i will put them in my deck which i have yet to actually use in real life cyber dragon nova but it is ready it's ready to go i might actually throw in some of those new blue eyes cards though when they come out because they're pretty nice looking resonance insect and also really like to make the dark magician deck i think the dark magician deck looks pretty awesome scrap raptor and it looks fun too i well i've played with it actually a little bit but only online not obviously i don't even have the deck so i can't play with it in real life but the dark magician new support is actually really good i don't know how the new blue eyes if it'll make it better or worse because right now i think the dark magician is a lot better than the blue eyes personally from when i've played with it but i'm not an expert of course but when i used it i had a lot more success with the dark magician versus the blue eyes i like the new uh the new field spell that automatically set the eternal soul was pretty cool that came in the uh the megatons that was a pretty nice one and then of course eternal soul and uh magician souls and all that stuff those cards are insanely good so if blue eyes kind of had you know that that would be a little bit better but still not terrible but definitely not a great deck okay come on resonance insect yet again where are our ulti's we've hit three it's not bad it's not bad but we're looking for five to six we got a v uh penguin brave i just noticed penguin soldiers there's a lot of penguins in here in general well i said penguin souls earlier but then i put it together that there's also other penguins you know the great emperor penguin all that stuff all right we got the outstanding dog mare we got the basil rose shoot we've got also have some pretty big openings coming up in this week we have some cool stuff i'm gonna open up we got the penguin now i mean this is obviously cool too but there's something pretty cool that some of you guys are sending in and i'm pretty excited about opening them and also very excited about that retro pack too not gonna lie i have a feeling we're gonna have some good luck out of that box because it's been sitting here for so long just ready to be opened i'm ready to finally open it up and pull something go get the penguin brave come on let's get another imperm to imperm i'm happy flawless perfection of the tinny come on baby junk sink run oh a utopia okay i think i'd rather have two utopia than black luster though so that's not bad don't do it don't do it to us again please don't do it to us again last time it did it to us we got two of the one we weren't really looking for even though the last one it did have forbidden droplet which was incredible so it was actually a better card than cyber dragon in terms of value i think but we really wanted this cyber dragon it was cooler all right junk sink run scrap raptor we have one to two more ultimates two if we have a good like a really good box and then one if we have a regular box so we're looking at probably one more make it imperm come on baby cyber dragon nova we'll take as many of those as we can get we have junk sink run basil rose shoot you gotta believe believe in the heart of the cards here we will pull some fire by fire i mean ultimate rare rucks and special we are rucks and specialing everything come on dark some work resonance insect we have maren flawless perfection we have utopian aura vessels of the dragon cycle very nice then we have painful decision power bond all right get a little nervous here not gonna lie we're getting down to the end can we pull that imperm cyber dragon nova we'll take i'll take those that and scrap raptor i think are some of the best cards i wonder if power bond holds any value penguin brave i feel like at this point it shouldn't but i don't know there's a lot of reprints of it that i can think of off the top of my head painful decision flawless perfection of the team you all right we're probably down to the last 15 or so packs out of 100 so we've opened 85 packs every cyber dragon nova again there's not a ton of super serious seems like as we're pulling a lot of the same stuff let's see we got power bond yet again and zector dragon flies in here i think that's you know with all the the bug support coming up dark smorg black basil not black rose shoot basil rose shoot all right we have resonance insect come on last few to go here we have the dragon fly flawless perfection of the ten ye i think we have all i think we only have one more ultimate rare based on these numbers so we gotta really hope for that imperm come on second imperm here we go oh we've got power bond very nice probably 10 more packs like 90 percent of the way through here here can we pull the impermanence the cyber dragon nova ruckson specialed it again come on believe in the heart of the cards i spare your token we're at less than 10 i think gotta be less than 10 now come on give it to us basil rose shoot the nerves are kicking in give us at least give us i mean we only have four ultimates right now so will we even get another one is the question i've never heard of one with four but it could probably happen the great emperor penguin we've got six more packs ah come on oh utopia that would have been amazing if it was imperm all right it really wanted to give us our third utopia are you kidding me right now i guess it could be worse it could be black holster soldier definitely not the one we're looking for now we just have to hold out hope that there's a sixth probably not gonna happen but we just gotta believe three utopia in one box unreal that could have been imperm a place that imperman in one thing okay maybe we'll just have to make a utopia deck maybe that's what it's telling us vessel but now i have three ultimates then i have the collector rare as well so what i even do and then there's the starlight i guess it's the astral i guess technically not the starlight two more packs here we go come on imperms let's go utopia so many prints now i think about it like nice prints final pack of the opening put your luck in the comments here we go we need it we gotta get something here come on imperm we got the we got the dog tini spirit and a scrap rapper probably a pretty good super rare okay okay all right we didn't get all the imperms we were looking for we did at least get one so that's pretty awesome it's pretty fun opening these new ot s packs fortunately not as good as 16 but still a pretty decent set overall if you enjoyed it make sure to like the video and subscribe for more content shout out to tcg trusty cards toe and foe show tomato juice stanley mic nance and mimic gecko appreciate you guys supporting the channel and i will see you guys later peace i will jam


Wasn't everybody Jason from Jasper's case breaks.com 2013 panini select mini box break number 58 round on teams helps sell out Allen and Gintzler were also gave you guys 20% off so instead of paying 37 bucks You guys only paid $29 and again 30 total spots all teams and no veteran common ship first We'll do the break customer names and teams randomized distribute the hits out of the mini box We get two autographs inside then at the end of the break we'll randomize all 30 customer names and number one We'll win the non-sport spot number two in the randomizer will win the Chicago White Sox Not first five. The lead was a $550 spot White Sox were a $300 spot and Dodgers at number three will win them as well. So one two three get in top three out of 30. Good luck. Let's do the break first roll it Seven and three or sorry for an a three to make it seven times One two three four five six and seven down to Ryan Harold seven times One two three four five six seven Texas Rangers down to the time of a raise and they got no trades guys. Stick with what you got Just a quick little mini box break as it came out. I don't got paper. I gotta go. You got Mike old Mike old see still around. I remember he was pretty big 99 as a prospect young player That's gonna go to the Chicago Cubs got a Josh rookie a silver Starling Martin Pirates all is a silver George Brett Brandon Maurer Seattle to 750 And we got a gold Luis D. Jimenez Rookie to 25 That's Los Angeles angels Yeah, young bloods Matt Moore For Seattle a box right there a little mini box. I just say All right you guys now. Let's quickly see who is gonna win those three spots number one gets non-sport Number two gets the white Sox number three gets the Dodgers roll it And we got a Four and a two for six times. Good luck one two three four five six Jason at number three so minute two and David Ross at one So congratulations Top three get something coming up next guys Allen and Ginzer He went to number five


So we study how people react towards uncertainty and what we show is it very much depends on what you call uncertainty. Even without changing the objective level of uncertainty, you can make people react positively or negatively towards uncertainty simply by calling it by a different name. Framing effects are effects where you call an option or a product by different names even though you don't change the meaning of it. So for example, you could call beef 75% lean or 25% fat. It's the same information, but it's a different name applied to the same product and studies have shown that these framing effects have an effect on how people evaluate the product. So 75% lean beef is evaluated as better tasting than 25% fat meat, even though it's exactly the same meat. And so we show these framing effects for products or for prospects with uncertainty. So specifically, we ask people how much are you willing to pay for a gift certificate from Barnes and Noble, which is a bookstore in the States. $50 gift certificate. And so on average people said they're willing to pay around $23 for it, which is totally fine. Yeah, probably they don't like reading. They don't like the hassle to go to the bookstore or so. We also ask them, how much are you willing to pay for a gift certificate at Barnes and Noble, which will either be a $50 gift certificate or a $100 gift certificate. Both are equally likely. So 50-50% chance. And their willingness to pay was much lower. It was about $16. Now this is really strange. That is almost impossible because in the second choice they would at least get the $50 gift certificate. So it's very strange that they're willing to pay less for this than for the $50 gift certificate for sure. This effect is called the uncertainty effect. And it's one of the one of the biggest problems, I would say, in the decision-making literature in the last 10 years. And so we show that this effect is due or can be explained with framing effect. So if you tell people how much are you willing to pay for a lottery that gives you either the $50 or the $100 gift certificate, then you get this very low willingness to pay. If you ask them instead you don't use the word lottery, but you just say how much are you willing to pay for a gift certificate, which would be either a $50 or $100 gift certificate, then this effect goes away. So it seems like people react very negatively towards the word lottery. Just by calling it a lottery, willingness to pay drops dramatically. So we show that with other names as well. You get the same effect if you call it a gamble or a raffle or a coin flip. So anything that apparently has to do with uncertainty lowers people's willingness to pay for it. We have to be aware of this unwillingness for uncertainty. And product makers can use this kind of information to choose other words and then sell something which is not, in fact, not good. Absolutely. I mean, as with most findings in science, you can use it either way. There's no morality involved in this. You can use this effect the way you want to. If you want to make scare people or make them elicit a negative reaction, you can use all the words that are associated with uncertainty. For example, make people more aware or more alert to climate change. You would do this if you try to sell them certain products and you want them to accept the risk, you refrain from using these frames. That's absolutely true. What happens next? What's your next research in this field? So these framing effects have been shown for product evaluations via the first ones who show it for willingness to pay, which I find that interesting because it's a preference measure. In general, how do you find out how much people like one item more than another? One way is to ask them how much are you willing to pay for it? Another would be to do choice experiments. So do you choose this one or this one? So a logical next step is to see whether you find the same framing effects for choices or are choices constructed differently and you find a different effect there. So that's one next step.


Hello and welcome to our presentation on making your cash work harder with FIG. My name is Graeme Colley and I'm the Executive Manager Technical and High Wealth at Super Concepts. Today we have Liz Moran, Director of Education and Research at FIG and Emma Jenkins also from FIG who is the Director of Managed Accounts to tell us about direct investments in bonds and the managed investment portfolio service offered by FIG. Then to finish up, I'll walk you through the client interface with Super Concepts website and FIG. Now just a bit of housekeeping, on the right hand side of your screen there's an orange arrow there and if you expand that it'll open up of course and about half way down there's a space there that you can put in your questions. Now what we'll do with the questions today is we'll leave them to the end to answer but during the session I'm sure you'll have something that will twig your memory and you might want to ask a question so jot it down there. Now the main reason for having a self-managed superannuation fund is direct access to investment markets that it brings. Now directly investing in bonds is one of those ways of investing for self-managed funds can provide a number of advantages for trustees. I'll hand it over now to Liz to let us know about investing directly into bonds. Thanks so much Graeme, really good to work with you again and for everyone on the line to join us, thanks very much. We're delighted to be working with Super Concepts and to be available on your platform now, Direct Bonds, either a Direct Bond portfolio or our special bond IMA and I'm going to talk you through this morning a little bit about how bonds work.  Particularly with a do-it-yourself portfolio we might suggest five or ten bonds, there might be some companies there that you may not want to invest in. You would say to us well I don't like that quantist bond and then we would work to find something else for you. I guess really the bond market is a very big global market and we're talking the wholesale over the counter market not the assets listed market but I'll explain a little bit more as we go on. So to the first slide here, just the introduction which Graeme's done I'm going to be talking about the Direct Bonds and really how bonds work and why they're good to be in your portfolio. And then Emma will talk about our bond IMA which we're called MIPS. It stands for Managed Income Portfolio Service. And then finally Graeme's going to give you a quick demo on how the figure application works in the super concepts dashboard and then we're going to finish with some questions. So let's get the ball rolling. Why would you invest in bonds? I think for me the primary reason is that they're so reliable.  So it's that sort of reliability in the constancy of bonds which is particularly attractive to people in retirement or near retirement looking to replace that cash flow from when they were working and they had an income. But there are lots of other reasons that you invest in bonds. I think one of the main ones that we're certainly coming across now is that people are fed up with low term deposit rates and they want higher rates of returns and bonds will deliver that. A low risk defensive portfolio you would expect to earn one to two percent more than term deposits right throughout the economic cycle. So no matter where we are, sort of one to two percent. So at the moment that would translate sort of to four to six percent somewhere around there that you could expect to have a portfolio of bonds. Quite a few other reasons you would have bonds as well. The huge range of bonds means that you can really target your risk and return level. So you want a low risk portfolio, we can certainly do that for you. But there are high response that will deliver surprisingly high returns as well. And there I'm talking about some high yield non-investment grade. Some of you may or may not know what that means. Bonds but sort of six to ten percent range of returns. A few other things, they're tradable, they're defensive. And it's that reliability really that is the main function. Now of course the other reason is returns. And what you may not know is that over the last ten years, the Osbond index which tracks corporate bonds has outperformed the ASX or Ordinary's index. So this is what that graph shows. The blue line's the Osbond index and the yellow line is the all-Ordinary's. So it's quite good this slide in that you see the bond line is gently upward sloping, no surprises, very consistent which is exactly what this asset class is. Whereas with the shares you can see quite a lot more volatility there. They go up and down, they move up and down. And this is why at times people you might hear about bonds called the sleep at night asset class. They give you a lot of certainty and a lot of comfort around your future capital and income. So I just wanted to talk a little bit about portfolios and structuring portfolios and time of life. So this is really like a time of life diagram if you like. Can you see we've got 21 years there or 23 years, but you're pardoned. So that's sort of the age or the time now people might spend at school and higher education. And then they start working and we estimate around about a 35-year working life. So especially when people are young, we think they should allocate high proportions to high growth assets such as shares and property and have a lower allocation to fixed income, which does include deposits and bonds. So around about 30% to fixed income and about 70% to the higher risk, higher growth asset classes. But as people age and they hit this period called peak wealth, you'll see it's a green bar there. So that's about eight years before retirement. We think then that people should be starting to transition and make their portfolios more defensive because of course you don't have time to recoup losses. You don't have a 30-year working life ahead of you. You're building that nest egg so that you can rely on it and live well in retirement, live the way that you want to. So we think about that time you should be starting to think more defensively and increasing your allocation to defensive assets being deposits and bonds. So about a 50% allocation there. And then you'll see you hit retirement. Now, that's the big unknown, isn't it? How long we're going to live? How long we have to make that money last for? You know, some people will have short retirements. Others might have a 20-year, 25-year time span. But some might have as much as 35 years in retirement. So we really think you don't want to risk your capital at that point and want it to be fairly defensive and to make it last. So we actually suggest an increased allocation there to cash and bonds of 70% just to make sure that you see the distance. So what are corporate bonds? A corporate bond is just a loan. You lend your money to a company. And in return, they agree to pay you interest on a set date and they agree to return your capital at a set date. So the legal obligation nature of a bond is what gives us a lot of comfort. And you can see there on the slide quite a lot of logos. So all those companies issue bonds and many more. But you'll see there's some companies there, Morgan Stanley and General Electric, a company I really like, and AXA and insurance, French Insurer. They all issue bonds in Australian dollars. So fantastic for diversification because you can access these international companies, not listed on the ASX, by investing in their Australian dollar denominated bonds. So it really highlights just how big the market is. And in Australia, roughly the bond market is double the size of the share market. And that is true globally as well. So the bond market is a very big market and the ASX listed market is a small component of that. The much larger component is the wholesale over the counter market. And that's really what we're talking about today. A couple of other things I just want to mention. There was a study a few years ago by the OECD on pension fund asset allocation. And they looked at 29 countries, all their asset allocation from all the big pension funds. And Australia had the lowest allocation to bonds of about 9%. But the average across all those countries was about 52%. So you can see how under allocated, most Australian investors are into bonds. Really important. And part of that is just because you may not know about the asset class or have been, you know, know how to access it. But the other part of that is we are just underdeveloped. So and SMSFs as a part of that have even a much lower allocation of about 1% to bonds. So how do bonds differ from shares? As I mentioned there, that legal obligation and the companies have to pay you interest and they have to pay you capital. So you can think of yourself as the banker, you're lending them the money. And that's a really good way to think about it. Whereas with a share, you're an owner. So you're investing, hoping that the company will grow. The dividend will grow and the share price will grow. But there's no guarantee that either of those things will happen. And you would be aware of course of a couple of companies recently having to cut their dividends. BHP cut by a massive amount, I think it was about 75%. ANZ also cut. So there isn't that guarantee of income. Whereas with bonds, they're pretty well is as if that company that's issued the bond continues to survive, you're going to get your income and you'll know what that'll be. So quite a big difference. Now if you're interested in bonds, what I say one of the key drivers is, is that is the company going to survive? Is what's the survivability of the company? So if the company is going to survive for the five years that you hold the bond, you'd be a pretty comfortable investor in that company. Whereas the key driver with shares I think is really growth. So you're comparing survivability versus growth. I think survivability is an easier metric. And of course bonds have that or they are that legal obligation. So a few things you might not know about the bond market. The Australian market is worth, we estimate $1.2 trillion, it's a huge market. And the largest issuer is the Commonwealth government. They issue about $410 billion, quite large. All the states and territories also issue bonds. And of course corporations issue bonds. And that's really where we focus on here at FIG, the corporate bonds. And there's about, I think there's about $350 billion of corporate bonds out there. So one of the other things about bonds you may not know about is that they're tradable. So once they're first issued, people buy at first issue, and then they start to trade. So there's buyers and sellers. So you don't have to worry about a long-term maturity with a bond because you can sell it. The other thing too, because they trade, much like shares and the prices will go up and down, you can make higher than expected returns. So we might quote you a 5% return on a bond. But if for whatever reason the price goes up, you might have some capital gain as well as that 5% return. So there is the opportunity for higher returns. Of course there is also the opportunity for loss. And that is that the price goes down just as they go up. They can come down from when you first bought it. And the second way is that the company goes into default. So they can't pay their creditors anymore, which is a very, very unusual event in Australia and very low risk still. But important for me to mention, that is one of the key risks. So with this wholesale over-the-counter market, what we've done is take traditional parcel sizes of bonds, which were $500,000, really not available to the likes of you and I, and break them down so that you can now access bonds in $10,000 parcels. And it's a minimum of $50,000 upfront if you want a direct bond portfolio through FIG. There's quite a few misconceptions out there and there's a lot of noise at the moment about don't buy bonds now, it's not a good time. There's the bond route and bonds are crashing. So what a lot of those commentators are talking about are US government bonds. So in the US, we have new President Trump who's gonna spend a lot of money and there's an expectation that interest rates and inflation will rise. Of course, he hasn't got any of his policies through Parliament yet, but they're hopeful that he will and that will happen. So very low yielding government bonds and some of those bonds are yielding close to 0% or quarter of a percent or 1%. With that expectation of higher interest rates, they're expecting that the prices of those bonds will come down. So not a good time to buy US government bonds. I can confidently say none of our clients are in US government bonds. We're dealing with corporate bonds and it's a different market, but those commentators are talking about fixed rate bonds and that's the very first type of bond on my list here. So fixed rate bonds, and I'm just gonna go back one step, pretty well all bonds are issued with $100 face value. And fixed rate bonds have a fixed rate of interest that cannot change throughout the life of the bond. So some years ago, Stockwell, no, not Stockwell, Stockland, Beggy Pardon, Stockland issued a bond, a fixed rate bond that paid 8.25%. But you can imagine it as interest rates have come down and that bonds become very attractive because that cash flow will be paid regardless. And so the price of that bond has risen up to about $120 now. So you can see the price is adjusted because of the lower interest rates on offer. So if interest rates start to reverse and go back up, the price of that bond will come down. But that's the beauty of those bonds. They're very protective in a low interest or low interest rate environment. And they give you absolute certainty of return. The second type of bond is a floating rate bond. And just as the name suggests, the interest pay to you goes up and down throughout the economic cycle. And Emma actually refers to floating rate bonds as three month term deposits. So every three months, you get a new interest rate for the coming three month period. So these bonds are particularly attractive if you're thinking interest rates are going higher. And the third type of bond is an inflation link bond. And these have a sort of a special place in people's portfolio. Those I think particularly in retirement because inflation is one of those big risks that, it's been a while since we've seen 10% annual inflation rates, but they have been here and they completely destroy value. Especially if you have a fixed amount in retirement, I think it's very important to protect against inflation. So this next slide, I think is actually the most important of the whole presentation. If you understand the issue, you're gonna understand bonds and how they work. So what it shows is a simplified bank capital structure. And it's the priority of payments and liquidation. So if a bank goes belly up, who gets paid out first? If you're at the top of this ladder, you get paid out first and you have to be paid out entirely before the next steps paid out and so on and so on. So as you move down that structure, you're taking on more risk. And because you're taking on more risk, you expect higher returns. The structure also works in reverse so that if as the banks being wound up, there's losses, the level at the bottom, the lowest level, the shareholders take the first loss. So they wear the first loss position. They have to be wiped out entirely before the hybrid owners lose any money and so on. So I'll just very quickly describe to you the sort of terms and conditions. The top covered or seen secured bonds have specific security. So in the case of the banks, it's a 8% of their mortgage loan pool. Very, very low risk here. Typically issued for five years, these bonds can be fixed or floating, but they are actually have the same sort of credit risk as the Commonwealth government. So really low risk investment. Then we have term deposits where you know your interest rate again and you also know the maturity date, very low risk. Not, there's no specific security within a bank for term deposits, but there is that government guarantee. Then we have senior secured bonds and that's sort of the most common level in the capital structure where bonds are issued. Again, typically five years can be fixed or floating. You know your interest rate and you know when you're gonna get repay. The fixed rate bonds pay half yearly interest and the floating rate ones pay quarterly. And then we move down to subordinated bonds and their junior, you can see they're a level lower in the structure and they have what's known as a call date after five years. So typically first call after five years when the issuer of the bond can repay you but they're not obliged to and then there's a final maturity date after about 10 years. So because there's that possibility of a longer term to maturity, you're taking on more risk and so you expect higher returns. Then we jump down to hybrids which are a beast unto themselves. I read many of these prospectuses. If you've got them, please get the prospectus and read it. They're all different. Even two recent hybrids by ANZ are very different in their clauses. So hybrids have call dates. If the call dates aren't met, they then become perpetual which means there is no maturity date. And typically when that happens the price of hybrids falls are quite a lot. Hybrids also have this term called non-cumulative. They're non-cumulative, which means the banks don't have to pay you interest or the distribution. They can forgo it entirely. They never have to make it up to you. So quite different to bonds where the companies must pay you interest. There's a few other clauses there. I'm not gonna dwell on them today. Of course the final one is shares where there is no guarantee of income and there is no maturity date. You have to sell and take the price at maturity. So that really highlights some of the key differences between bonds and shares. Bonds are a lot of risk in the same company. They are that legal obligation and you do have a lot of certainty compared to if you're investing in the shares. So I wanted to show you what happened here in during the GFC. So I've got my glass half full cap on looking at the worst possible outcome. And what we did, we invested $100 in the major bank senior bonds and they all trade very close together so it's easy for us to do that. Then $100 in the CBA Perl 3 and that's the blue, the mid blue line on the graph. And then finally $100 in the shares of CBA. So we've added back all the interest payments and we've also added back franking on the shares. So you can see about the time the GFC hit. The hybrids would have lost, if you're a fourth seller you would have lost about 30% of your capital. But you see then the hybrids recover. Interestingly they never actually meet the bond in terms of total return. So hybrids are much like bonds in that they're only gonna pay you $100 at maturity but they do take on a lot of that downside risk of the shares and this is sort of what this graph shows. The other thing there is the shares. So you can see if you're a fourth seller during the GFC you would have lost about 55% of your capital. Really nasty. Then the shares recover but it takes about five years for the shares to outperform the bond. And to my mind that's the sort of time you need to be thinking if there's another major GFC type event you need to be thinking five years until the market recovers. And in fact I think it's gonna be longer if it happens again because the central banks don't have that ammunition of cutting rates to try and stimulate again. I think it'd be longer, longer term. And I just wanna make one final point on this graph. I've been an analyst for many years and looked at many companies globally and if I look at the ASX 200 to my mind the Commonwealth Bank is the lowest risk company there. So this is what happened to the lowest risk company. We've seen some of the mining companies and mining services companies go through quite harsh cycles just recently. I think you've just gotta keep that in mind. This is the lowest risk company and it's quite a harsh outcome. So I wanted to show you another graph. This isn't my graph and it's a graph from UBS. So the big Swiss bank. So for many years they tracked bond performance in Australia and they had what is known as the UBS composite bond index. But what happened a few years ago is they sold that into C2 Bloomberg and so the data's no longer available. But I wanted to show you this graph because it's 24 years. So it's comparing the bond market again to the ASX accumulation index.  Again, gently upward sloping, not many surprises. Interestingly outperforms the shares. You can see it outperforms for quite a number of years. That was because there was a high inflationary point through there and governments issue inflation link bonds and those inflation link bonds and high paying government bonds really outperformed over that period. But if you follow the share line it gets that beautiful big spike which is why we all invest in shares. You know, myself and all my colleagues at FIG we all have shares. So you see you get that lovely spike but then it goes down and then it's up and down, up and down, up and down and it finally finishes up. So over the sort of the 24 year period of this graph the shares return about 10.5% which is exactly what my university lecturer told me years ago, 10.5% from shares. What's surprising though is that the bonds return 9.7% over the same period. And you know if you think about the difference in risk and the difference in certainty, bonds surprisingly high return and really not that much different to the shares. So if you're thinking about bonds what's the best way to include them? We think investing direct is best and I won't go into that today but you have control then. You know what you're invested in. You're not invested in government bonds which a lot of managed funds and exchange traded funds do invest heavily in government bonds. But there are two ways here at FIG you can have a direct bond portfolio where you have total control. You decide what companies are appropriate for you and we help you do it. There's a lot of expertise here. We have a lot of education and research to help but you do need to invest quite a bit of time yourself in getting to understand the asset class a little bit better and just reading our research reports on the many bonds that are available. You can also buy foreign currency bonds so in US dollars or sterling or yen. So if you had that sort of need or want to hedge or you had a US dollar account sitting there earning next to no percent that might be best for you. But the other program or the other way is an individually managed account and this is a new service we started providing this year and it's for wholesale owning clients. There's a number of different programs four different programs but the returns to date have been really impressive just in the six months and hats off to our portfolio, our experienced portfolio manager who's had many years doing in that role. But I'm going to hand over to Emma Jenkins now who's going to talk you more through that individually managed account. I think it's something really worth considering. Great, thank you Liz. Liz has done a great job of talking about the benefits of bonds so that makes my job much easier. We just talk about the benefits of overlaying a manager. So what we're doing with an IMA is we're taking a direct bond portfolio which means all the bonds are held in your name so it's still very transparent and you can access your coupons and we're overlaying a professional management team. So that team makes all the decisions on your portfolio which makes it convenient and simple for you to have a diverse bond portfolio and access that important income stream. The bond markets, there's a lot to know about managing a bond portfolio. There's interest rate exposures, how much fixed rate bonds, how much floating rate bonds, views on inflation and that professional team does that all for you. So they manage all the company's company exposure in your portfolio and they think about what is the appropriate interest rate exposure through the cycle. So really it gives you peace of mind that someone is managing your portfolio at all times. It's really important also to know there's real scale benefits. So the bond market is still very much an institutional market and so what MIPS can do, which is the IMA, our Managing Come Portfolio Service, it can aggregate all the smaller parcels across individuals' holdings and bring them together to get better pricing in scale for investors and pass that through and what that equates to better returns for you, the investor. The active management I think is important wherever you are in the economic cycle but certainly with very low interest rates. The portfolio management team is both managing your portfolio for risk but they're also looking for opportunities and in this institutional bond market we often see those in new issues or what we call primary issues and the portfolio management team may have a day or two to decide whether they go into your portfolio and that's something that they're able to assess, get access to the new deal and then put it in if they think it's appropriate and that's something you wouldn't be able to access directly yourself, you may not have time or the access or be able to get the volume and scale that they can because they act on your behalf. I think it's really important to understand who's managing your money, who the team are behind MIPS. Kieran Quain is the head portfolio manager, he heads up MIPS. He has been in the fixed income markets for over 30 years and he's responsible for all the decisions around managing all the portfolios under the four programs. He's been at Fig for over seven years and he's got a lot of experience in that high yield market and he's been formerly the head of risk and the head of syndicate for those high yield deals. Before that he was at AMP, one of Australia's largest bond fund managers where he managed all sorts of portfolios including corporate bonds, RMBS interest rates. So he's really got diverse bond market experience and he's seen many cycles which is really important when managing a bond portfolio. So in terms of the philosophy of how these portfolios are managed, there's three key points that the team focus on. The first is really diversity. It's really important you spread your risk and to give you an example, typically we see when people manage their own portfolio directly, they might be comfortable owning five to 10 names for 250,000. The portfolio management team in MIPS would manage 20 to 25 names in your portfolio and they can do that because they've got scale, it's a team and they've got experience in both the names, the corporates that are issuing the bonds, but also in the bond markets and how to access and manage that risk and how to book the portfolio together which leads to the looking at the credit profile. So they analyze every bond that they buy. They look at the company, they look at the cash flow, they look at the balance sheet and they'll ask them whether they think the company is likely to pay back their coupons or their interest and their principal at maturity. And they'll do an even deeper dive analysis where they're looking at those high yield bonds which are unrated or sub-investment grade and require an additional layer of work to make sure that they're comfortable with those companies and that they'll not just survive, but they'll pay their interest through the life of that bond. And thirdly, ensuring they deliver really strong returns and these are risk-adjusted returns. So that's why they're thinking about the composition of the portfolio and the diversity, but also driving really strong returns to help you fund your retirement or to grow your overall investments. Now, we're very pleased to say the returns have been very strong and you can see the benefit of having the active management here. So this table demonstrates the returns. The far right-hand column shows you the six-month returns to end of October and these are annualized and they're net of all fees. So that's really important to understand that these are net returns. So these are the returns you, the investor, would have got if you'd invested six months ago. So we have the four programs, the income plus, core income, inflation-linked income and conservative income. And depending which one you'd invested in, you would have got for the last six months between 4.2 and 7.1%. Now, that reflects the different risk-reward choice that investors have made. And I would say we predominantly see high net worth individuals looking at the income plus and the core income. So the income plus returns to the highest, 7.1 and that's the risk profile of that program. The core income is a bit more conservative. It's got a higher allocation to investment-grade-only bonds and that's returned to very strong of 5.8. And the inflation-linked program has returned 4.2% which in this very low inflation-rate environment is a good return as expectations have really been decreased. And it's one of the few ways that you can access a pure inflation hedge. So as you can see, the benefits of the active management over direct bond portfolio are really the peace of mind that someone is managing your portfolio looking to improve returns and also the transparency and the access to income. And I think these returns demonstrate that a portfolio manager can help you optimize your investment in fixed income. Now I'll hand it back over to Graeme. Yeah, thanks Emma. Yeah, look, one thing I was thinking about when you were talking and also with Liz was the importance of with self-managed sub-annuation funds, the operation of the CIS legislation and the need to have an investment portfolio because part of that, you need to be able to consider the place of diversification within that self-managed sub-annuation funds investments. And bonds certainly complement that investment strategy. So when you're thinking about your self-managed sub-annuation fund, I think you need to think as bonds as something that complement and balance the returns on your investment both from a risk point of view and also the yield associated with it. Now to finish up our session, let's have a look at the interface to access the FIG website. And if you have a look at the member dashboard that you've currently got on your screen there and you go up to add services, which is on the left-hand side there and I'll just click on that. Hopefully it'll come up. Now there's the add services screen and if you then scroll down, so you just go down here, you'll come across FIG. Now that's around about the middle of your screen at the moment. There's a whole range of other investments and financial products that you might want to be involved in, but we're just looking at the FIG bond access at the moment on your website. So if you want to set up a count, as some of you may already have a count set up with FIG, but if you don't, just click on that little box there and there's a couple of questions which we're required to answer under the statutory requirements. And so what are you gonna do with your overall wealth? So maybe put down investment income there. Where's your major source of funds? Might come from, let's say, investment income because that's what we're talking about with the self-managed fund and what's gonna be the purpose of the account? So maybe building wealth because that's what we've been talking about today. So if you then go into that, we should be right for that. Get some, go into that. Go down to the bottom, I'll be your pardon. A bit green on this. Go down to next. And then we come up with the first schedule there. So if you go into that and have a look at the summary of charges relating to the accounts, you can see the fees that would be charged. So we then click on that and then we go through to the next part of it. So from that, we've got a, this is a draft presentation that you would have access to here. We both agree to receive the product disclosure statements because I'm sure you'll read those before you go further into that. And then down on the bottom here, we would click next. And hopefully next takes us into the next part of it. And then what do I do here? No, okay. So what that will then do is then show you the aspects and we'll look after that for you from there. Now, why you would use this compared to remote access to the getting on the FIG is that it all forms part of your super concepts portfolio and the access to it through that. Otherwise, what we would need to do there if you're logging into FIG remotely from the system, then we then will need to link you up later in the whole system. So it's better to, if you want to use FIG, integrate that with the accounts super concepts services and then you'll get direct access to that. So now it's over to you. If you've got any more questions that you might like to ask about today's presentation investing in bonds and let's have a look at that. Yeah, we actually surprisingly don't have any questions. So either we've done a really good job or you're perhaps not sure how to use it. So that little box down on the right hand side, if you just click in that, you can type them into us. And we run quite a few webinars and we're used to lots of questions. So don't be shy. I'm just going to talk you through a little bit about what you can find at FIG. We have a website, fig.com.au. The wire is our main newsletter and I think really worth having a good look in there. You can type in the name of the company and see our research or if you're particularly interested in education, you can go to the Education tab and click on that and that will show you a whole list of articles that you can read about. And of course you can phone us. There's our 1-800 number where you're very happy to talk you through or chat to you, whatever question you might have. Really happy. We do have a couple of questions, which is fantastic. So Shane's asked, can I get a copy of the presentation recording? I'm sure that we're going to do that, Shane. We know some of the people that registered couldn't be on the call today. So I'm pretty sure we will get that out to you. Rhonda's asked, the minimum amount required for the managed bond investment and is it open to all? Emma? That's a great question. The minimum investment size is $250,000 and it is only available to wholesale investors. There are, I'm just going to talk a little bit about the fees and that's the nasty word but I think it's really important because with bonds it's not like a direct bond portfolio. Most of our fee is in the buy-sell spread. So you know when you go and you have a foreign currency and you want to go to New Zealand you'll see a buy-sell spread on the currency in the bank. Bonds work a lot like that. So the returns we would show you on a direct bond portfolio are what we would expect you would earn and we've taken a small margin out of those buy-sell spread. And there is for direct bonds there is a custodial fee account charge. Emma, do you want to talk a little bit about the managed bond fees? So there's four programs and one of the programs which is the income plus that has a management fee of 0.85% and then the other three programs have a management fee of 0.65%. And there's also a custodial fee as well which is the same as for the direct bond service. So all those fees are contained in our information memorandum as well so you can see those there. So there's no fee upfront and there's no exit fees? Yeah, there's no upfront fees and no exit fees. And there's also no performance fees. So if we outperform it all comes back to you. We're not taking a chunk of that. So I think that's pretty important as well. So we've got Merve's got a number of questions for us. Hi Merve, thanks for joining us. He asks, is the 7.13% return on the income plus, is that capital and interest? Yes, it is. It's both, that reflects the total return which is made up of both the coupon or the interest payments and any capital appreciation or depreciation. Great. And Merve also asked about liquidity in the second during market. So Merve, this market is huge and typically most of our bonds are very, I'd say very liquid. You know, you're looking at a sort of a trade plus two-day type turnaround. Some of the bonds will be less liquid, particularly in stress markets. So the higher risk ones, you know, it might take us a while to sell in a stress market. You might have to lower your price if you want to sell quickly. But typically those that are investment grade low risk are very easy to sell. Now at the moment there's a huge demand from our client base for corporate bonds and we actually just have trouble getting the bonds. So you might decide you might like a Qantas bond or a Sydney airport bond and we might say, we'll put your name on a wait list and it might take one or two weeks for us to source that bond. That's sort of our role as the bond trader to source the bonds if people want to buy or to sell on their behalf. Okay, so there's a couple of other things, a couple of other questions here. Brian's asked, where do we find the fee structure for the FIG service? The button on the application screen only shows super concept fees for fund admin. I think we will come back to you, Brian. It's certainly through FIG, we can tell you what the fees are and our website should provide you with some more information. But we'll make a note and come back to you on that one, Brian. And Ron asks, when you say wholesale investors, do you mean a sophisticated investor? Yes. So that was an easy question, Ron. That's a straight yes. Now, we're coming to the end of the presentation here. If you have any further questions, I'll give you a minute also to type them in. If not, we will definitely make, I'm gonna say, I'm gonna put my head out there and say we'll definitely make the presentation available so you can listen to it again or you can share it with someone you think might be interested. Certainly the FIG website and our wire newsletter, you will find a lot of information in there. But I would suggest you could come back to Super Concepts or the FIG team and we would be delighted. Nothing more would delight us to help you than to help you set up an account. I think it's great from FIG's part that Super Concepts recognizes that need for diversification and that bonds do play a very good part in diversifying your portfolio. I thank you, Graham, for your comments in that regard. And we don't have any other questions. So I think on that note, we might say good afternoon and thank you very much for joining us. I hope you've learned something.  No, thank you for listening in and thanks for those questions. There's certainly good quality questions and hopefully we've been able to answer them for you. Thanks very much. That now concludes the presentation. Thank you for joining us. Good afternoon.


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And I want to welcome everyone to this edition of the Public Good App House. We'll be showcasing tech for your nonprofit to unlock the power of location-based data. So the Public Good App House events, like these, are initiative of the TechSoups Caribbean Studios. At TechSoup, we believe technology like smartphones, internet connectivity, training and more have the power to serve our communities better. So today's presentation, we have Marina Smith. She serves at Mapbox, the customer marketing and social impact manager. Every day, she supports and celebrates innovation and positive impact of Mapbox employees and customers. Before joining Mapbox, Marina led participatory mapping initiatives for land use planning indigenous and community land rights protection and natural resource management. Great. Well, lovely to be joining you today. I'm from Mapbox. I'm based in the beautiful land of Hawaii, but it's great to work with folks across the mainland as well. I'm here to give an overview of what Mapbox is and some of the core products that are available to you if you're building with Mapbox and then ways that you can access nonprofit support. So I'll start off by saying that Mapbox is not a single application. So my demo is going to be similar to Emily's in terms of the, it's the platform. We are also not GIS software. We are a platform of products designed for developers who want to add location features to their custom web or mobile applications. So you can build a great app to demo at public good app house. So either you're a developer who has never really worked with geospatial data perhaps and you're looking for developer friendly tools that take care of the geospatial heavy lifting and are just very easy to build with, or perhaps you're a geospatial professional and you're looking for tools to help you build highly polished and performant end products like web maps or applications after you've used your GIS to do your data work. And the chances are good that you have already been interacting with Mapbox maps. Our customers span a incredible range of industries from consumer apps like recreation apps or news outlets for data visualization, delivery apps, you name it. They look very different because of how customizable the Mapbox product stack is. So I'll start with our Mapbox maps products. These are the ones most commonly used by nonprofits. I'll call out a couple. Mapbox Studio is our visual interface for designing custom map styles. Let's control every detail of how the map appears. I'll give you a little more information about that in a second. If you want to build an interactive map hosted online, then you would probably be using our Mapbox GL JavaScript library. And that's where you would add in the different interactive features into your application. Likewise, if you were building for mobile, we have native SDKs for iOS and Android, as well as plugins for frameworks like Flutter. And a little bit more on Mapbox Studio. I think it's a great place to start to get to know Mapbox. You don't have to be a developer to use Studio. There's no code required. This is very much a graphic styling interface. It's free. It's browser based. There's no download or license needed. It's a complete design ecosystem that lets you come in and play with all of the different core tile sets of data that Mapbox makes available to every account. Like roads, terrain, buildings, satellite imagery, labels. That all comes kind of available in existing templates. Or you can build completely from scratch and customize to your heart's content as well. You can also add in your own data layers to create things like data viz, heat map layers, or add in custom locations, custom labels, that kind of thing. And so we see nonprofits use Mapbox Maps products to create high impact visualizations on the web in particular. A lot of data dashboards. Mapbox is truly optimized to handle very large data sets and still perform very quickly and very smoothly. So we see a lot of big data visualizations, as well as things like care locators or service locators. If you want to build a very polished map experience on your website or in your application, that's what the Maps products are for. I will give a special shout out to Storytelling Maps, building on what Emily shared about the Esri Story Maps. For Mapbox, we have a scroll through experience. This is available as template code. Again, if you're building with Mapbox, you're building as a developer. So you're going to get into some of the coding, but it gives you complete control over this immersive scroll through experience where you can add in your narrative, your videos, and have an interactive map change dynamically as you scroll through the story. I love these. They work great for nonprofits and for communicating impact and explaining some of the complexities of your data. Okay. So now I'll cover a couple other suites of Mapbox products that, to be honest, are less commonly used by nonprofits, but I like to make sure that they're on your radar because I think there's great potential here. And I want to make sure that people, when they think about location technologies, you're not only thinking maps. You're thinking location services more generally. So Mapbox has a full suite of products around navigation. And this is because we work with big companies that are automakers or operate fleets, delivery companies, for example. So if you have use cases where you are needing to say, maybe your food bank and you have a lot of deliveries to coordinate, or you have crews of people and resources that you're moving around and you want to focus on optimizing those resources, maybe you've got an out-of-the-box app that you're already using, or maybe you've got some custom needs and you need to kind of graduate to a level of having a customized application. We've got the suite of products that lets you build that or if you're working with a developer you're bringing in to build something custom, we've got the full suite. So definitely if you're curious about the world of navigation, come talk to us about that. We're happy to map our products onto your use cases. In particular, I will give a shout out to some of our navigation products that are more geared towards analysis. So for example, our Isochrome API lets you create polygons, areas that represent travel time. And these are useful for nonprofits if you want to do an analysis like a catchment area of services based on travel times to a location or assessing an impacted population. So you're not necessarily only building turn-by-turn navigation experiences with these tools. You can also do backend data analysis with these APIs. And then our other suite of tools and products are search and data. When I say search, I'm talking about geocoding primarily. So if you have, say, address data that's text-based data and you need to do geospatial things with it, at some point you have to convert it into coordinates. Or maybe vice versa, maybe you have raw coordinates and you want to convert it into readable addresses. So that's what geocoding does. Also, if you are already using data in Snowflake, perhaps, it's a popular data management tool in the cloud, we have a native app there. And there's a couple enterprise data products as well that I'll highlight for you. So we have our mailbox boundaries data. This is a data set of over 5 million boundaries for political, statistical, postal, administrative boundaries around the world. They're really powerful for creating visualizations as well as aggregating or enriching your data beyond something just like geocoding. Maybe you want to add metadata about the administrative boundaries to your point data or do some point polygon analysis. This is a product that we can donate to nonprofits. So come talk to us if you've got a need for highly curated data sets of boundaries. And then also we do have telemetry derived products. And so this data comes from anywhere when someone's using a mobile application that's powered by Mapbox, and it's a product that's integrated data, all anonymized that can feed services like live traffic. So identifying areas of congestion or identifying patterns of movement, which can be helpful in a nonprofit context for things like maybe football analysis, looking at where certain landmarks get popular. Maybe you're doing some site selection type work or perhaps looking at risk analysis, road traffic patterns for transportation. Again, we can donate and discount it for nonprofit research projects. So if you're intrigued, please get in touch. All right. And so on that note, how do we support our nonprofit partners? We have a highly tailored program. We don't have just a set discount for nonprofits. We want to hear what you're building, what your goals are, what products you need to achieve those goals. And then we'll work with you in terms of figuring out how to make that feasible and make this great impact happen. So that ranges from technical support, mentorship, coaching, directing you through the Mapbox documentation, as well as discounts and donations of product. It was a telling story of what you built. So finally, just to wrap up, people often attend sessions like this because they want to have that takeaway of, okay, why would I choose to use Mapbox over anything else? I think the main points that I see nonprofits choose Mapbox when you are looking for developer friendly tools to create something custom. You want something that is highly reliable, enterprise grade, the level of what global companies are using. You know those services are not going to go down. They're not going to slow down. And you need that full kind of level of customization. Maybe your developers are clamoring for some more flexibility in the systems that they're building for you. And then we also have this direct tailored support program for nonprofits. That makes a big difference for a lot of our partners. So with that, please ask your questions about Mapbox in the chat. Happy to chat more and get in touch.