PSW Trading Webinar 08-19-14

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PSW Trading Webinar 08-19-14

that’s when to our chat to move even trip I’m going to get started in two minutes I’m very exciting market rally everything up and up and up I see 16 882 on the tablet but maybe points8 Larry but it walking dead can’t even mine everybody’s got to have a point cooroy alone the other he was a 25-22 it’s not good wait doesn’t he old oil absolutely me the new oil is just as bad 2930 not not too late long on that so I’m down fantastic thing fork all right meet started in just a minute people coming in last night Oh probably should start recording this how are you from recording I don’t know you that’s odd accordingly courting McCoy that recording settings record audio well its ethics equilibrium oh I stay here in a little recording button okay all seems to be working correctly then you you all right officially we are going to get started so let’s see I’m going to share my screen so hang on a second should be able to see with this crap at the moment oh there is one more but brick still have to fix it service for your garden hopefully we’ll get that working correctly fantastic okay Papapa Papapa various disclosure you great okay here we go access to this webinar is for educational and informational purposes only consult a licensed broker a registered investment advisor before but it’s in any trade all securities in orders discussed attraction marketing vertical grades and tempers priceus part and returns may differ from actual trading results commission costs are excluded need to fill start worldcom TFW no its ability to any of their respective offices personal representative agents and contractors are in such capacity licensed financial advisors registered weapon drive occurrence developer dealers nothing contained this webinar website of promotional material possibly promotion recommendation quotation or offer of a meticulous investment authority or transaction trading options involve risks is in the OCC website www are comparing calm to read characteristic risk of standardized options GSW provides educational in trading services women to teach egrets and different rewards and trading options and we are not a servant until he was a grade we are not implying guarantee any profit as always do not trade with money to contain to board the loop test corners performance does not equal teacher results and result success in this webinar are not typical and are only valid on specific or identified date your results may vary by access means webinar you agree BB about harmless from any losses you may occur as a result of information discussed in the media identify develop by accessing this webinar you agree to be placed on mailing list in cburg newsletter rest assured we take your privacy very seriously move distribute or sell information to anyone fantastic alright hopefully everybody can see my screen and appleton see with going on the market whoo hoo look at that all right either some stunning little charts aren’t very impressive everything is up up up and more up and you can go to the bigger charts and I’m sure we’ll see everything’s up enough enough to poor self is not up yet we’re always you all right oh remember we wanted to short

the Nikkei at 15 5 I still liked that line for shorting nkd but but but you know you’re not getting any kind of confirmation of anything else going down but I like that line that’s a nice good shorty Long’s onika the dollar is look at that all the way up to 82 so the dollars been crushing it and the markets been growing up that’s not usual all right the reason I like on long on oil because it’s a being pushed down by the dollar so if gold goes back to a 1296 and so it’s silver in 1943 so I like silver long Europe it’s 1941 I light up 1952 way for us to be more short but this 1940 line is you can see if 1936 we have this report and it are in tested that and pop that up that is a really big move on the doll from yesterday 81 4281 90 now so have a point is you know more than half a percent because only going out late so about 0.7 percent downward pressure so gold hasn’t fallen 0.7 percent the downward pressure is going stopping it from going higher but we still holding these load of gold wants to go up the dollars not letting silver wants to go up the dollar not letting it now the Nikkei loves the strong dollar so in several ways here we’d be playing the dollar to be rejected at eight and two we’re playing so we expect that the knee table fall when they’re all subjective maybe two we believe the gold will go up so 1295 if it played me wrong on gold silver will go up 1943 I’ll take 1940 1945 I think any of those lines but I think we’ll be back up to nineteen fifty no problem and gasoline’s been going up barbus natural gas that I wouldn’t play that I here’s gasoline again for some reason and here is the oldest is a new oil contract in strongly 93 16 now I went long as 9325 so I got a problem because i’m already down with on this one and the low is 93 over so i’m not too pleased with that turn but that’s not what we talked about today once it’s we don’t want that ok um ok question before I get started from a color a few topics today and see what happens you all right oh I know what I want to look at all right if you are not a fill stock remembering but not with this shit’s listed the vial is for members only only members should look at it see so our virtual portfolios tab we have to change our mamaluv on the June trade good luck courting skip July this matrix of you got to June but that I kind of just haven’t been there have been too busy these are really tedious to put together by where that woke up every single food and figure out how much they didn’t book and how much they changed since the time we traded and so on so it’s killer so I could I’d that like five six hours extra on a weekend we listen all right so that per week not per month but it was like another is another week’s worth of work by the time I finish them all so we’re off the violence right there actually 29 trade by the time you got family we compiled out my list over the course of about a month during the month of May and a little bit into June I think and during this month we’re always spss so what happened is we sort of reset our portfolio on the long-term portfolio as the market was coming around here whoa son of a die Oh what is my papa Orca stuff all right so we’re we’re clear so we went to cash over here but we went to catch with the idea that we were going to trash out our winners we have money winners who we’ve been wrong all year long we been long since November and we can here we did a lot of the box when the market good team here in a februari did a lot of buying on the long-term portfolio we cash out a win is here and this is that fresh horse in ponca and we loaded up on the fresh

horse went and found a whole another bunch of thoughts of light as long-term plays so we would leave a heavy and divine during the month of May and picking things up and that’s having started compiling the by this we found a lot more stop than they actually took officially but you can see and I like this while of each chart promo resolving pinned is f ing eyes it because they’re dynamic so every time I look at the map they themselves so even though we actually made this what’s a date on jun 7th we made this list that is a team that was the final data when we think we’ll added on jun 7 it since june seventh they still hang on they’ve still been updating yourself such as variable system you’re not her opinion alright so we’re on I talked about a couple of them in the morning post and we we have a few they’ve taken off on us obviously through look at the one skid got a can AVX already obviously from june to hear these guys also a cam took off broadcom took off SI CJ not yet though so here’s here’s one we actually still like we ever see CJ play cin you know i mean we always like see it and they ever get cheap device them more but it really matters on whether they make a good cross where you can sell clips and call if you can sell did cold noise output which means so a call at the strike that’s what you want to get into it we expect to every die so this is not a good spot to sell and unfortunately the only the cell defense and call or 15 thankful so you’re never going to get a good price but it’s a fantastic little real estate trust it’s just and if they tempest and dividend so well we’re returning for long term even if you only get your tiny little discount clf i love and same thing extra so I’m taking off us feel and feel that they produce iron ore pellets and iron ore pellets are you know the economy is recovering this is something people need and you can say oh they get under sold in China or wrongful but that’s boys knock on them that china produces cheaper but they don’t care they sent to America if the demand in America don’t you you know you gotta realize that it’s a lot cheaper for them to stick the nine or a load of iron ore boats on a train and ship it to you that it is for you to contact someone in shiny new baby I know folks in there for price by the time it gets here on a boat and a train it basically starts to the same price of Creole up its own so they have a good little business sense but we have the terrible prominent that’s the only reason they’re down there’s a long-term investment this is absolutely the kind of stuff you won’t own we have been casted off a bracelet always good puts to sell because nobody believes in you guys eating is a gift you know on 520 at around here they got low enough where we go excited about the mainland lower and that it’s on that but I always like eBay women cheap they’re good company um paypal payza that’s way that any book it’s not just easy like a credit card company for free when you go to eat it add is my sake little utility company and we picked up on 55 line here and now they’re up is you know they’re going to go up and go down for channel you’re buying you guys to dip dip scx again to the huge copper company and copper is coming back and they’re coming back that’s a brainless corner so easily do harmony is a small gold miner a favorite is a DX of course but we also do like harmony and they were on a stay of 63 sees the aisle I don’t always jump on these things but when they would pay that they went down the year and this is what fundamental investment about you got to look at it typically they’re bad they had a bad report but it wasn’t that bad we got a great deal on the dhampir carbonating is just coming back you guys know I’m always bangs table an update in their big play in our own long-term portfolios like those guys IBM is IBM forgot to sell at the end to you when they get cheaply behind and distort igt they got bored there there tom so if it’s too bad we love them i robot that any time I robots cheating on their a stop the century so you want on the years now so we WI want to buy iRobot unless it’s up in the thousands and i’ll probably do Title III seriously do believe I robot will one day trade if it’s 35 bucks now one day I robot to be a $300 up okay there’s some things they will they will come up with the line with the military bites on giving billion-dollar contract in the company

double triple overnight let’s see I’m gonna prototyping everything so they do this they’re basically an Arn be confident constantly figuring out new robot you think it doesn’t mean much money say haven’t smelt with a mass production robot that’s what it yet but they will ed for butterfly no it’s not a good butterfly because they don’t have very good option breaking unfortunately because they’re of their food defense butterflies the one to the kind of that they just gone through a rough period and then you expect them to calm down those are the best butterflies because the auction prices are inflated in the short-term versus what you expect them to stay out over the long term ok we’re selling the short term options you know so it depends right now of course we do have but we don’t do is a butterfly portfolio but we have fast money which is what we call it the butterfly the music FAS that one is a violent one that we like to play also we do have the short on portfolio if you can get really grow now they’re fun but you know he he it’s not the idea of the butterfly portfolio lenders butterfly portfolio don’t have to worry about that that’s why we dumped seizure out of exit too much you’re paying ass jdsu still key ok we we got them on 520 they will lower their chief revenge they’re up a little bit now but on my face nice run then they fit a i was now they back up but you know what we’re buying you info off a little bit of crap we sold the 2016 10 dolla books for buck 50 50 in Paris exhale the 10 that’s our game plans on x 18 months k bh we just a good home building you to say so they’re popping to be like those guys newmont mining you have another gold miner is 60 the back way it’ll the premises gold being more expensive 18 months now I didn’t think was very complicated so we’re just looking for gold marks the other goal might be like is NHA I didn’t know what they’re doing right now they’re they’re the most hated woman with any salt but we like them because only cuz it’s fun I mean they might jump up there is 70 sense that they might if they ever get 0 if they’re ever allowed to clear the environmental hold the hurdles which is substantial but if they ever clear their environmental Urgals this sock will fly so it’s just kind of bumping the home but so now it’s not something with merit being on the five list which is thoughtfully you know strongly believe is warm investors nly another reason 12-8 insane guys who run fee IM traumatically rundberg chimera so we like them we like to be like the main some people at Kenner both and the dividends on this a fantastic if a much easier time entering nly when you do see I am because they’ve got better option prices jo says if you look up on these in May and would you expect do a second scare what would you wake of my kids with a touch aaah wait that’s what we’re doing so i guess the interest wait because that’s what we are doing the wrong turn portfolio we’re we’re only 30 descent invested but the site the only 30 cent invested we’re we’re up like twenty percent so Your Honor I don’t want it I it doesn’t it’s why would I want to risk it there certain started with the device want to go down and that’s the point of it that’s the point of this thing the reason i love these dynamic Schwartz’s you can lose them is any day and say I feel like adding a stock we say look 5 through our prices low I’m ETO so it’s on a long term portfolio out obviously you should ask me in chat but our our opinion hasn’t changed our byes and we still 11 long-term still paying huge dividends it’s a good solid company to own the long-term they’ll go up and they’ll go down but over time because you know using our standard strategy to keep lowering the comp basis over time why wouldn’t you want to get into a stock like bikes that’s the ideal stock for our primary strategy to grind down your cost basis over time and then just let your dreaming that felt enough calls on the stock over you know 20 years now it’s a point in tap they took off so they’re there Gonzo’s for the concern we wouldn’t get back in that pan word nice little energy play they had a lovely little bottom here we are where were they when we like them 63 yes they were right where they are now when we started with um you know I you know I get affected see this is when you’re loading up when you take that initial position and then they plunge to 52 which is there only about Taylor the tempest can’t drop no not even so they say they sell five percent and held that line that would be a time to double down when you have that exciting premium in getting over here to live it forth adding to your position um and you know you want to take advantage afterward um

what to do so in other words what would I do here soon but I see a move like this and especially to think about what you would’ve been doing you say say you got this on 63 when we started right it fits dr little bit then it flew back up to barely touch down here flew back up there anything damn i wish i bought more so when it comes back here when this happens you gotta say yourself Oh now’s the time i want to buy more who did the same drop last time and i was so demand i missed it last time let you go here it’s either gotta learn going to learn the behavior of stock leave it in and lets you know so a lot of times those initial entries we make like getting to know you kind of entry nice let’s go rig to it back we’ll reconnect one with the great they have a wonderful little drop fantastic kinda to increase your position and we did we added to every the island I one of the portfolio’s let’s eat rig was a 520 so 520 very here which is about 40 about 41 bucks let’s say they found 38 until what I don’t care because what was that position on red we took the we won so 35 cook so life book my cold for big is that they’re not going to go below 35 and we’re knitting into 3145 over winter he drops to 38 but that was a great time to buy this if it had just gone with the foots it’s a great time to add 40 50 vocals threat alright and he and at the time which was 520 so let’s see five 20s around here when we like them and I said if they go 43 it might be a good time to jump in we didn’t see how they pop the CEO Arthur about that 43 line they topped it but then they held it but then they failed actually have a better earnings reported and they were in fact that but i still like i’m still think that this is you know getting up to 43 is gonna be the right price for these days so fantastic want to get into now rrd i never knew him okay because the huge stupid and dumb for some reason people don’t like them we call in and out of favor and I don’t get that I always like so they were cheap try 13 was again it’s you know I don’t think the same thing all the time are you mr. drop in August okay but the Guinness drop into something else everything yes every week there’s something but right now what right now here’s Rick you know the idea of having a bile is give me about twenty nine stops here and at any given time one of them goes not feel we like them fundamental reasons it goes back to I keep eating it but it’s like that Levi example I keep telling you about you but it started like they’re Jean I know I want it you know there are some stocks that I know for sure that I want them if they’re cheap so just like the pair of jeans right at five genes in my party my closet made one of them intuitive and dad shades I should probably get a new one but I’m on the higher you half-breed to be there I had two Krabby perhaps you carry whatever with sports I have a clear para para read her painting and stuff like that so I have five pair of jeans I was like another pair but I sure don’t even love it there but I also know that a pair of jeans cost me 40 but yield is normal crisis 40 bucks or outside the normal sale prices for Tebow so if IC 50 bucks in the mall I’m not interested right theme for 40 bucks of a kind of interest with my team for thirty dollars I’m more interested not less interested and this is the problem that you guys have a star five okay because if you don’t have a firm price in mind your stock is worth how do you make a decision right so rig like a pair of levis is worth 35 bucks to me at least so when it gets to a point where i can i can create an options for it or something definitely with dr. 35 or less I’m interested I know any interested I don’t cater if other people without interested I don’t care if we drop it open foe I only care about my price at my club right in other words if you’re in it you know again it affected during the score and you pair of levi team or thirty bucks because they havin some kind of blow out sale alright do you stand at the store and you and you’re about to take up your jeans the person next to you picks up the jeans and push them down as oh I don’t want to buy does that make you not buy it no because you know that you want them right you’re not influenced by some person who is not look that even though you will do you guys think jeans we want you don’t care that somebody else doesn’t like it and you sure as hell don’t sit there and look at the Jews you don’t endlessly look at reviews and obsess over what every single person in

America says that your jeans did you wouldn’t even think about doing that when’s the last time you read a review of the clothes you wore of your guy to sure out of a girl hit your guy include the hell cares with somebody else things and why can’t you be that way than a stock then all right now if you take it to another level at a car as far as the bigger purchase decision for you you might kind of want to read the reviews but you mostly want to read your do on a core you like to think of it stuck we’re not you’re not reading room you to say I’m gonna die at the best car in America and therefore i’m the only read with you you have your own consideration do you know what you like in a car and you know we’re willing to bet so you have an idea in mind you say I’m going to either body maybe you say I’m going to either by the Toyota or other two by the cam no device camry I’m gonna buy the Ewing something odd about this will be with me but i have i have used something by the Toyota and I’ll go take a look at the bob dificil they have and you know so between three things of comparable value you’re going to pick the one you think of the best out right so but that’s you don’t but after that you don’t care you have to know you don’t go to all your neighbors mantha motivate thinking you don’t point some young horny mechanic and asking with things you’re picking it to you because you like it you have a fairly good understanding of the birth of the thing that you’re buying all right why not stop so why do you treat stars like this some kind of mystical thing you can’t possibly fathom it when you’re going to defer your entire knowledge to other people you do including me frankly I mean all right I don’t I’m helpful and I’m going to filtering some stuff but you still never make a decision based on what you know understand otherwise you’re always going to beat everybody else mercy I’m just trying to give you guys ideas and I’m trying to show you how to work but you know it’s not up to me to tell you to buy stock just like I wouldn’t tell you what genes to Bob you got to pick something that you’re comfortable with and then you can work on it not just slip from things of thing and don’t go by before last I read said what any 20 people say on the outer ward seeking out for anything like that you know it’s like fine things you know and understand and trade them because if you stick with those things you’ll get comfortable with them you get better treatment alright so that’s my little lecture for the morn Wayne says how this is a great week more Chapman if you are open to a new position on fines or rig if you walk through the thinking of what striking you yes that’s a very very good idea brilliant all right rig now I firmly believe rig is worth more $35 with it and let’s take a quick look i’d only get too long on the topic but we’ll pick a quick look at Yahoo Finance we shall clicking rig are on G and there they are lovely we will look at what the blade Susan oh and you guys all have to thank me okay because my badgering has finally gotten seeking alpha and Motley Fool removed from the headlines of yahoo com and they are now pretty much only serious news organization to wrong yet so so you look at the news is actually helpful instead of just whatever pump-and-dump crap is on it I’ve been lobbying for the few years very very pleased with it so we look at the latest news now instead of just lakes rivers and we find out that nothing is really happening bearing this up and down all the meat is a week is a week rig market parks pricey and I’d agreed that are going over Baltimore at least at least is not getting worse all of that all right they beat they have better day rates and what do we know though this is the biggest thing that I know about rig is that we’re in a boom of drilling in America there’s a lot of oil drilling the rod of exploration they just discovered oil and black and not like Australia they just discovered there they’re drilling the Antartic now we’re all these rigs going to come from even if they don’t find from Transocean directly they’re buying it from somebody who compete with Transocean and that sucks up the rig capacity you know worldwide going X amount of risk we take a walk behind the bill being sort of big things of the huge projects so there’s a demain saying things the shipbuilders now shippers are all of me being well because the voltage is 0 this is a big story Bible the Baltic Dry Index the eagle who’s one I kept busting everybody every week birthday x equal x equal x equal because this bolted drawing in there look at that that’s a nice little recovery gone from 702 over about thirty-three percent in a month okay it will take more dramatic on the weekly truck thirty-three percent in a month

alright that’s a nice little talk with rubber you get back to 1200 then we’ll see what’s happening is that the 200-day moving average but that is nice alright so we’ll see what happens there so rigged by Thurman’s the city of current p/e of mine they have a 40 Eve 11 and 12 but that’s because bad day rates of rice in full if theories are actually bad they’re fine they pay it six point six percent dividend alright this is a good good stock oh and I’m sorry if they just spun out some really using really nice deal but we’re happy but that’s what a great went down they were spinning out three of their rigs they spread out into a new company and they still own they were more than half of it they raised capital coat Oh what gives me talk let me be they spin it out to the new company new company goes public or whatever they did with a raise capital they raised two billion dollars to pave the rig so the two Billy Dalton goes to rig and drop in cash so now they don’t have to now is there got me if they docked ash in the book they pay down their own better or buying more great for whatever it basically I’m doing but they spun out the new companies now peak of the Rings and Transocean still gets half the profit trouble doesn’t freaking fantastic deal it’s like please do more those because some reason people didn’t like that me drop the stock the chapel is insane so that’s one of the reasons the Trandoshans rock did grow anyway many reasons to like them even even if no te is going to 11 or 12 that’s still fine and and again down the road there will be more drilling there will be more oil it’s a way to go oh and what is something I’m Jordan plankton there’s another kind of drilling that they’re starting to do and the other kind of drilling you need the same rig those except director that retrofit them so there’s a lot of good reasons like we’ve got so what do we like about them so while they’re still level we strike advantage oh you know it’s killing order right now they’re dumping those old concepts the old oil on back from Iraq month from this month from September are the ones who are expiring tomorrow 895 sales a $95 lineman for the club notice or an hour until books so that’s really bad so that’s what’s putting pressure and that’s putting pressure on the October contract which is unfair because you know it’s not their fault it’s not there for the people have to dump the the September contracts but what you know what that once that’s done the pressure should be are often will be our focus order rise up a bit but it’s hard to say when the answer is in turn sound like uncle Warren well thank you not too many people I idolized in this world would be one let’s see great oh yeah right what are we doing try para what do we do with Rick so they’re 40 bucks now yes and well there is that success in dividend so couple of ways you want to look at it we’ve already got these short the forty dollars now see with this I know I had sold the for Yahoo puts because I’m very very confident that did you know if you sell these two 732 you’re going to net in for 40 to 70 / I’m sorry 30 to 70 and I’m very very comfortable with only 30 to 70 so that’s impressive sale that’s equal one if you want to sell the you don’t want to be too aggressive I mean telling 35 pics before about that next one 30 hi do you like it better I mean you know honestly there’s not much downside to collecting the extra 260 facilities really missing a few all missing five dollars with opposition but you’re collecting 260 more but it’s a more aggressive that you’re betting the brig is actually going to finish a little bit higher than it is now I’m uncomfortable without that go long term that’s floating off the dividend if you want to buy the stock you can buy the stock for forty sell the $38 calls here for four bucks alright so what do we got 3950 so that brings to 3550 met then we’ll try to raise another few bucks or raise another for fish doing these I bring this down to 35 weights all right no well we say 35 50 minus another 450 is 31 so this to that you down to 31 if you sold these

puts as well and then you’d be collecting that dividend Python if you buy rig for 3950 you sell the 38 calls for well I’m 355 a mix up to 30 326 all right and you sell the 35 I’ll put 44 30 all right so you’re going to take off 326 4 30 is 760 something alright so 7 says let’s say seven sixty all right let’s say 715 make it easy so we can pay off 750 CE o net into $32 you call away 38 sets that twenty cents up call away but the reason I like this is because while you’re in the position you’re going to collect a three-dollar in 1000 and you never like that we either probably look assumably you want to get wet the next month well it’s it if you want to run yahoo it is actually very useful to notice that those dividends only under historical prices and it shows you where these dividends pain and that’s weird okay so may februari oh they’re erratic wait a minute they’re not things once we dip it into the I was saying that’s a shame but anyway so I wouldn’t do it alright so that there you go I they don’t actually pay as much dividend I don’t think let me see may in 2013 maybe 50 50 50 50 oh I see them know then their basic 75 in May so there is another one coming june july august so you two more dividends is he right maybe they are going to bed so you’re to dividends is here and that’s a buck fifty if it holds then you’ll get three dollars next year so that’s 450 see buying internet 32 you get 450 in dividend but like 15 dividends and then if the stock holds 38 you can make a quarter way to 38 with another six bucks which is another twenty percent of what your fav so you’re going to get with 35 exam on withdraw over the next 16 months and all it has to do is hold 38 doll that’s how I device that’s good okay that’s really good that believe I so they weigh that out birth is I mean you know and we like what that thing well impaired like that with my thought we good then you compare that to just filling the cooks and if I said well maybe I want to just tell the forty dollars for seven ball and how much I’m going to get at least seventh of FL can get seven thousand dollars for doing that birth is if i bought the style and i made six bucks on sales plus another forfeit and building and bitten so right i up first two thousand dollars now i’m going to expect to make ten thousand five hundred dollars over the course of the next 16 months whereas oh it does thank you ok jazer sentido expected the blue arrow now the question is what they helped blue arrows and forth more this one of the company profile you don’t mean the company profile be under under 14 this thing oh just a 75 yeah okay I still don’t trust them though I like to see what’s actually happening I much prefer yahoo want to raise it out cuz i can see what they’ve actually paid and then you can decide whether it’s erratic or not alright is watching the end of finance historical prices dividends right it’s for whatever reason they’ve got a lot of junk in the crisis but but i like the fact that you can see when they pay and what they pay so last year they take 56 very steady the year before they paint 79 so you get the impression that they vary they kind of adjust based on what they think they they’re going to be able to pay but they seem to stick to whatever price they say they’re going to do so they went from 79 to 56 and now they’ve got to back 75 this seems like junk II dad I don’t know why all right but the gist of it is they do this year from 56 to 75 from you soon that will keep the 75 but I like to see that I like to know you know that because that’s not erratic as you know what’s going on see how they’re paying out the east bay like noted that a drinker they say four cents

they change their mind that made it 84 216 stocks but only that wall but they so that happen they say special dividends here 33 bucks they look that one with so anyway so I like to see the history what we would do you know I hope you decide whether or not they reliable vivid it um thank you for coming to outlaw it um let me see I’m sorry we ruined Aaron yeah so okay I’m sorry so you can get the ten thousand five hundred dollars by doing a thousand shares and selling a thousand thirty eight goals and a thousand will be 35 foots all right now instead I’m saying I’m perfectly happy to collect the seven thousand three hundred dollars here by selling 10v suckers and see my margins only freaks out about that’s like super efficient so you know as much as I love Transocean on these very very very very happy to own that best in fact why I’m voting with the agony breakfast put sale I’m thrilled to own them connect 33 filleting drop by my worry about that but it just is so much more efficiently not to tie up thirty thousand dollars to collect 10,000 when I can tie up three thousand dollar for thirty four hundred dollars to collect 7500 olives all right either way my downside thing we’re going to end up owning Transocean and bout to paint net at about thirty about 33 bucks either way but in this particular I got thirty thousand dollars left to be without to do other stuff with so I’m going to make a lot more than 3,000 bucks a very thousand bucks alright so then so lets you know something consider it you want to you know healthy diversifies it’s the type of cash on fri 1 and n plus even thousands i’m only committed to one excuse and the other one you actually commits to it that they drop you only talk and you sell the foot so since i only have a 1x commitment by just fill in the pit tail if they do drop dramatically and i have a chance I becomes the catch i thought it might get back into alright so next in craig says why would you sell 38 coals if you bought the stock 39 kroger I don’t attend strategy active a lot well I’d yeah but he’s no only cold way to the realities of it’s not very often less you start this way high above the call it’s not that often something then call it going to make that we can exercise their quality and why is that because even if they have ten cents worth of premium in the poll they’re not going to exercise because it is throw-in sent out the window do they mean there’s no harm to them in selling the call you know since there’s no net benefit is not working on server that anyhow we’re always so so I like it’s a protected you know the point is to lower your cost basis and provides your protection because we don’t assume that we’re right you know and then again this goes back to it I can’t stress this enough in our strategy is that we want to be protected when we’re wrong we want I’ll be protected when the market crashing so you know it’s not about maximizing your profit because you’ll maximize your profit unless you’re right if you’re wrong you’re maximizing your locker so we’re taking a sort of middle-of-the-road thinking you know if I can I shall we we believe in the thought but just in case I’d like to have a little bit of protection till downside and and when you get to that point like here’s you know our little let’s assume like here we are in January so it’s joining or August whatever so it’s orcas now so if we had sold the 38th January calls right there 270 all right that’s the 38 the stocks at 39 if this is effectively 40.7 or 40 point 65 with worth it so is anybody gonna is anybody going to call this stock plus anybody get a chancel their contract for 265 just so they can buy the stock for 38 bucks and they’ll pay net by doing that okay net of 40 point 65 or will they just spotted the damn stock for 359 from someone else’s that until their contract so we’re not going to get called away all right I’m until you get to a really low number we’re not going to get cold wet and and so all we’re going to do is so at this point let’s say we are three months out of the contract describe performance out of contract expiring what are we going to

do is going to say well look we sold these 38 calls when we sold them for four dollars three years ago or a year and a half ago and now there are 265 and what are we going to do we’re going to roll them to next year 38 and take up two more bucks that’s all we’re going to make a decision I’m going to roll the post let’s allow bias more upside so we’re rolling our getting higher and think and emmagan is it either I know so is hard this is only the first step in a 10-step process over the next 20 years of owning it stop so you know the stock can double over 10 years looking to be over oh right along with every time we’re going to have higher and higher and higher full and at the same time also be rolling out put up a little bit so on so forth but we’ll just take collecting one more premium every time you do that we drop our Baker through a lower price and certain what if we probably do get cold wave these spikes up like great when you get bored away we’re not complaining when you say thank you very much with patch even week old away tomorrow we’re going to make twenty percent so that’s not a problem but I care about protecting my downside though I can manufacture in a year I can manufacture good use anytime that the market is flat or up and it does not how much is up this is this position as you can see please twenty percent will not give them thirty-five percent in in 16 months whether the market is flat or up not the market but whether rig is flat all but basically so conventionally if the market is flatter up I have a high expectation making 35% I can manufacture that over and over and over again with every single year for next year that’s not my problem what I want to avoid is losing 20 defense alright and if you ever get to go back like compounding your money Natan twenty percent 10-0 is going to give you I think five times your much so I grabbed you that conservatively and walk in the game than risk some large the outside where I don’t see you know where you know I don’t mind having a zero here but you want a moving wall not only so if we have twenty percent protection to downsize chance 11 eluting year is very very slim we might have an even year because that’s not so bad because it is still out of 20 years I can pull 15 years you know 15 years on the market doesn’t drop 22 then so a flatter up time 50 years under the Nate 22 pen in the down years I meant with zero stock market dropped twenty two things but i have 0 0 0 then 20 20 20 on the other year so your guarantee and celtics won I know sometimes like last year the market 532 saying you might go up here they made thirty percent to 1 i’d rather make twenty percent a lot then make thirty percent once in a while and I’d rather not lose twenty percent be the only way you would made thirty percent of the market last year if you’re hundreds that bullet with no edges feel that’s how you say Oh legitimated get some team a gift who are hungry 10 billion on the earth even with all of your money you would have made thirty percent we weren’t we were you know we’re we’re not even have invested and we’re making pointing the same without money the sidelines with me so we missed out on and presented to the board ship but I still rather be head just over the long haul over the long haul 2008 does happen two thousand does happen marking to drop thirty percent one so you’re sitting in a heavily invested market dropped thirty percent on you and you can’t get out of it you end up blowing two years working game how do you get back Matt but if your head twenty cents of downside the worst case is probably zero then you don’t have anything to make up you just gotta gear did you make any one but the next year i’m a 27 alright so that’s helpful so that’s really i think somebody has got to suck looks really similar concept a little on a move on from need but pop up about 50 or if I this ain’t that you can trust the criminal put all right just to talk forget that question g batsman says rig announce company shareholders to 14 meaning different breed alter share out of Beijing Capital given table voice oh ok so they have authorized the whole three bucks great thank you appreciate that all right next topic I think first of all let’s see how things are going same old same old if its oil is really pathetic with until me

in it I go buy more ah 14 revolve master there’s no real support here no Larry Devon nineteenth nineteen fifty-seven so I have three contracts and my theory is this being horrified people panicking at least attempt the systemic con trick New York globe resolve it I have a month event recovered and they’re not recovering so we’ll see but I’m certainly willing to add a few more so let’s see right now I’m at 9320 not and this is way that line trade you want though this is a 50-cent spread so if I add one more here I’m going to drop these three by about fifteen cents that’s good I’ll do that so let’s see that really add one more there we go I’m evidently 9350 look it so the next one I add if I added fifteen cents lower than this is 65 definitely dropped me right about to the 93 want i can live with being at the 93 long so then they’ll go up one more concept the five contracts is a lot for me really screwed on de anza all right obviously 1,500 bucks of the ladybugs group now of course anytime you’re adding positions like this you absolutely are looking to get out so we get back to 93 doesn’t have to be 93 17 in fact then i agree i want to link back up a recent take one off so keeping dress two things and hit me back my last entry 9280 at my next entry is 9265 all right but if I get up to 90 to 95 and soup make you know so make some money I want to pick out lighten up with all right so now we’re staring at those two basically very bullish a very bullish marketing what’s happening dollar look at that dog is so strong expression big tough and Nikkei is shut 15 for 90 is barely there click an X on 100 bucks that’s completely ignoring or that’s gonna be fun short an accident hmm things probably had that mr. see our portfolios dude there’s a good good topic change you’ll see our portfolios bill but with the head is us a good as long for us though is the wrong thing that no i don’t i’m not too fond of us those long player really think oil clicks laughs no a little we’ll know more soon it would be here to think it will does class then I’m going to like you at those for long plate in case it doesn’t collapse i’m currently claims you could long you know to this doesn’t class that will be soon they need the best flats and there will be a long-term grime i will make a heavy heavy debt on US auto if it gets down to like 85 panicking down but in the meantime try and pick up a little bit of money by playing pong inventory tomorrow 1030 if oil doesn’t be covered by them to be out of that trade but for now i noted i think again the OU Medical Corps ship your own you know what’s your own investing style like that I don’t mind holding to contract long people Republic’s you know just because I hate you know if I’m lucky I can catch it off and move up and they can get home um which brokerage firms you guys using i’m currently in trade well I’ll i think this one works better if my bed with julia majora and Julia said that too all right so what is it oh it’s a short-term portfolio currently up thirty two percent which is really weird sure you know we take plays like you know d XD is down all right but not much frankly so we have a heavy play ODST that’s a long term protective play along the market moving down um we’ve got our s cute you play here that deadline has only done a couple thousand bucks you know frankly I mean I go to do down more these are our hedges so we have the st teach you and the DX big and then we just have other trades they just raised me right for the most part xrp is kind of a bearish market play that’s flat right now Tesla up asked us to do mrs. cookies this can’t be right I’m sorry this is where was last week I look at the thing I cannot be great should we change a couple of things and the scene doesn’t refresh the screen with the active to do it all right more to the point that now

lets you add a short book value tube there goes my Tesla trait those now that’s not what I took the print forget you want whoa we do something wrong what are we doing wrong folks we should not be up eight percent ah well this guy’s up 5,000 bucks that’s a big difference the pencil trade was filling up we change it last meeting there a lot more beer and we left out but have forgotten stuff will mammal oh yeah they Sun 255 they’re like 278 birth weight on that helped a bit but wow we should not be up this mark said not good um weights not good because it’s embarrassing portfolio there you go that’s more like ESDS down five thousand bucks so that makes sense at Q is down met about two and a half thousand dollars alright so those are our hedges those are our date hedges other ones it gets basically bet and we’re rocking it on the back so wow that’s pretty impressive forty percent the embassy want to cash it out though I don’t like that shouldn’t be up forty percent which puts me down and up more exposed to be more bearish than this sorry we went through this friday though I couldn’t find anything I want to get rid of so I felt that way Friday you’re only a 36 my brother this is going a little crazy mostly to the test though that’s a big change being up 5,000 bucks a month you know one of our doesn’t work on that with food this is this is a hedge so we’re happy with that GMCR we still believe that they are going to fall so if I be with all these are just these are just offset their short puts that we sold to offset longer positions nothing wrong with any of these they will find a cake we love cake no problem that QQ is a hedge we expect to lose that money Yahoo is obviously we think the Alibaba feels going to go in fact we on track for when we’re bearish on Windham is two hundred bucks we’re on track Tex RT we actually even up on that one that’s crazy the rep on XR TB up a bit but we will be a problem aro just said Morgan you still that’s probably going to pick up a couple thousand bucks by do what tell somebody oh yeah I remember with by do we think that they’re going down but not too much and they are down but not too much so far with Google contender we think that the Alibaba IPO is there providing so our overall is short but not literature on FAS is the normal stuff of fas you know we so care for the cover there scty just got a bad there you go down great um and they’re on track and our logic there is the same you have fold the September 7750 calls their network both no problem Silver Wheaton we love civil along my problem and Tesla we think it’s gonna go down you know what is really no point this couldn’t warmer why we have that trophy to them hey it’s not really protecting anything it’s only sixteen hundred bucks so it’s not like it’s really catching anything it’s just it’s just an extra debt and since we’re generally just there is Ron Tesla what oh you know like we’re very far we’re not 140 there which were bearish x275 we’re not saying they’re not one board so if something between and make money on both which is nice we already made you know 13 14 bucks a 22 so we kind of we’re kind of in great Eric over here we do have a whole two years to be wrong so I think I’m all we should probably show that Wow I mean that’s terrible but I mean look at this we’re up forty percent and I only find one thing I won’t take off you know as I felt from the school where it’s like when you’re up forty percent and then let me near get out that’s just that’s just a lot of money and you know you’re not supposed to be a forty percent left me here it means you had a really good streak it doesn’t mean with gene look smooth and do it all the time

alright anyway so that’s crazy and then we’ll go to long-term portfolio I know they’re doing well because that’s 100 samples so that almost going to decide there as is of course a much bigger portfolio or long term portfolio has the soil of five hundred thousands now up 20 8 on the 609 and again it goes back to Velma I’m not really going to do this distributed arm all riding a member chat or thursday sorry the thursday and the review was like nothing changed study will be in designing change everything wrong oh good great long-term positions exactly the time getting back to all these positions come from not necessarily this violence to generally to come from violet this is all day or these kind of decisions over the long term portfolios full and doing exactly we’re supposed to do it maybe twenty percent believe you that’s all it supposed to do the trick is to do a consistent and it doesn’t seem exciting here Watch we write this down oh is it correct answer is very 100 120 mm going rate 144 and now i need to calculate there is stuff 140 for x 1.2 alright so that’s one 72.8 and then x 1.2 20 736 to 7.6 daya sir you at twenty percent a year in one this is University of one two three four years for more than doubling your money and after that though it’s also need to create the numbers because think about in this thing the next year in your fall you’re making forty percent of double will be sorted with your adding so you’re adding on eighty percent not they’re making 26 you’re adding that we’re adding for we’re adding forty percent of your original investment in one year just by making the next twenty percent and it gets bigger you know we’ll do a couple more i’ma gonna keep writing but 1.2 times oh she goes that number two oh seven point six times 1.2 time look at 1.2 x 1.2 times so here we are now and that was here five six seven alright so already in the eighth year regrettably adding your original balance each year alright so in other words with you know this is all we trying to say it’s like let’s stop trying to win the big wings all right because if we just follow this simple system and and just you protect ourselves and instead of filled up to make twenty twenty years in business basis we’re going to make ten years from now if you start with a hundred out now and it goes well in 10 years you’ll be making one hundred thousand dollars per year cause you and in 20 years from now you’ll be making 300 thousand eight whatever it starts getting even bigger and bigger it seems like crazy numbers not the different role in reducing from existing and getting a good return on your money and as you can see like i said the cheetah list though it’s okay if you cause you know one of these years keep it we’re talking about you know in other words I even 100 hundred twenty hundred forty-four is in year three you have a bad year and you have zero percent increase you still have me 120 all right in year four if or near 50 whatever it is if you gave me in person if you start one hundred forty-four percent and you have zero that year s’okay still have one hundred forty-four percent because you protected the next year if you have a good year

and often you will have a very good year after a bed you’re right there’s more opportunity so the trick of them are those Santa’s just don’t visit money there’ll be tons of opportunity to bomb and that’s how you do all right and here we’ve been doing it at every single trade in the every single trade in long-term portfolio in the short term portfolio we’ve done in the seminal every single one that’s what they were started for being the year for them to track for the new seminar that they thought of doing so you know only do it’s like once a week on Tuesdays here listen I can alert you may be gently once a week on tuesday we make a trade we have some help we have a portfolio the pages we have a portfolio that’s gonna hop bullish but the gun ho polish in the way that who is it I approve but they Craig a figure was a asking like why do you want to do that right they grabbed that question yeah Craig okay so gung-ho bullish in a way the Craig says oh why do you want to do that you’re hedging you know why do you why are you so nervous because I can afford to be nervous it doesn’t cost me anything to be nervous part of my overall strategy to be nervous and I can’t teach it to them to the problem really Percy teach it to you until we have a bad year when the market goes crash then we’ll say oh look we still have our money why I’m in this order so I’ve had a couple weeks ago in the morning because a little bit didn’t hurt us at all our net price of the two portfolios in that kayne on the two portfolios stayed the same one one down one went up alright so they stay balanced and we kept our money even though the market expression now what does that mean if we keep the money when the bakken fashion let’s say the short-term portfolios doubles it goes up a hundred thousand dollars in a lawn care portfolio safe flat at the 600,000 that let me we still have eight hundred thousand dollars yet alright so let the other so Walter what now fix God where is it so everybody told me um there it is alright so long term portfolio is sick and short-term portfolio is now 140 so let’s say the long-term portfolio drops to 560 and the short-term probability was up to 200 they still be about the same as a pair but but the difference will be that the stuff we want to bite it we thought liquidating does not which things we liquidate we start to raising some cash the things we want to buy your cheaper because we protected ourselves in the downturn and then we’ve got opportunities all over the place all right that’s why I’m so kashi here ok we have a recently started we have a six hundred thousand dollar portfolio with six hundred thousand dollars and pack alright we’re using in Morgan we’re using 300,000 margin but don’t get there’s like a million dollars in marketing ordinary not even talking portfolio marches an ordinary March when we put a billion dollar mark so literally using one third of our buying power and none of our past so we’re dying for an opportunity we walk takes from get cheaper you know we’re looking for stuff to add we’re excited about that product that will be just that we had at whole foods on 7 3rd we have G pad on GT advanced on 7 15 because only we’re not adding stuff we had 7 67 18 18 8 you know where it’s not that we’re not adding we just mellow about it and we can afford to be because we’re following a strategy and fairly mellow strategy it’s a great way to make a lot of money over time all right so let’s see now bourbon says uh just to confirm which strike do we buy and the street selling tqq it’s a bear put spread so we want to own the $86 puts where is that the short-term portfolio you you okay see 39.5 now my pastor loses money the very aggressive portfolio only 25 doll portfolio okay you ooh into the head boy I killed us weekly wats ur this to Jeju trade talks about buck that not cool so we switched teaches YouTube we haven’t done anything

about this yet not cheese really you know it’s seven cents I’m think I’m going to have to give it another day I know it expires on variety but seven kinds of more session but the chance that we can do better is more than the money we get from the seventy dollars in cash it’s you know so for seventy dollars like a lottery ticket right now we ever make sure that sucks anyways so what we did is we now look at each youtube capture he’s also losing on wall and we bought the $86 quiz there were four twenty the other day what’s today meeting yesterday so Igor these four for twenty and then we sold these guys in a dollar foot school or nine so what we’re betting teaching to you is now 85 we’re betting who get it went to totally other ways for us we’re going to dip and end up down below eight and that would be it’s an ultrashort i start teaching to you is an old for long as so we’ve a magic ball and the ultra long balls over that you know so far no good on that trail it’s just not working we’ve been bearish you know we flipped berries in the 2580 were wrong and it’s cost us because we were up almost twenty percent to rochdale in the portfolio and that’s annoying sister 1,500 bucks we’ve lost in the last couple weeks because we went there asian market did not fall you know if x 20 black ops email but bit more now mike says off topic would you recommend the new changer play here or just wait though settle back down all right let’s see what hayes is doing geez I always wanted a bigger threat inevitable printed on certain rules and I long for portfolio non-violence ah there is alright so taser we taped in 513 so it wasn’t that even 513 we did waiting so much it around 13 books now at 1550 I do not like chasing their up on news the news being that people rioting and it occurred to police department around the country we went to come riding here and it’s obviously as they notice now you get trouble and you shoot control so they think they might want to face a bit upset this is all gifted hazel also they’ve got a cannabis so the cops they put on a pattern for the uniform all and that’s a good thing because that that’s a huge cells like a whole nother selling system they have it all integrates with the same stuff so there is one of those asleep wrong path a bird now and until they did so the the cameras change ourselves integrate with the systems they already have and therefore our give yourselves a favor and for competitor coming in just trying to go and so they’ve already got right charging equipment they already have the same the rack systems attritional now you know everything but they need so the systems are there so it is easier to just add teaser camera than we learn some very important and that’s what I understand anybody to make camel I’m sure what’s his name wanted a GoPro I should go through what that poplar and gopher but you know you stuff to get those contacts they were ten years stop so anyway can we construct a good taser play I’m very comfortable with taser at 15 long-term so can we instruct the Taser play that’s a decent bargain but take a look at where the soft or options are sorry go out long-term there 1550 oh that’s a good price looking so I excuse my logic here can you tell the $13 put or two but that’s all that sale price there can be that free month phases of 1550 now I absolutely want to own taser for thirteen dollars there’s no question and so if I absolutely want to own take the 13 go now don’t care about two dollars I want to open for 13 so a you can just sell these books and have a net $11 and treatments by the oil very simple said discount off where they are now or you can sell the 13 put some tasty but ever those look 13 I’m going to own a law firm and meanwhile at 2 bucks to play well and you can take your two bucks and you can buy the 15-dollar cold or don’t see now the cartel which is right here but if I

see 445 here hbu telling me $13 falls until the 15 volleyballs want to take 65 cents more I would rather have this 44 45 I don’t see that the scene a bit a spare tire this says 380 that’s probably about the right right so I think creating stick with that so the 15-dollar calls the 380 now i know i had she’d also play with so what might help or tolerate well i can tell the look at that the 22 no not maybe not 2224 sure so I can take my two dollars that i get for selling 13-foot I can buy the 15-dollar calls for 380 and I can sell the twenty-dollar cold for 185 so it’s just about to ball so for free for free I never have all of the upside paper from fifteen dollars to 20 dot that’s how I play so if I get a hundred percent of the upside the pavement to the next five dollar movie or my or my downside i own a zipper 13 so why would i buy the stock when I can do that debt all right the only one the only one feeling reason one about stop if you say well I don’t think 28 hi that’s the only logical reasons riding stock / the stop and I know Oh do anything with it I just wait to see what happened it takes goes to 13 I lose two dogs and visit there well that’s works right but it tastes it goes up to 20 I make less money because I’m ready in 15 i’m not letting in aberdeen at 1550 driving less money all the way up to twenty dollars in bit in 10 / 20 50 then is finally the only time the stock is better than only options there only if they guilt only there are more than thirty three percent in 15 mo otherwise you better with the options work that’s how I like to instruct you trade alright so so in this particular case equal seasons kind of gotten away that’s a great spread so I don’t impress that that’s the way I would get one favor all right back to you the buy list he’s want make sure that everybody cuz you guys are all filled software members now well all people who belong the chatter on thurs any guess so i watch you guys do sit violence mentally is constantly it makes me any kind you feel like buying something look at this list and see what they’re even if you have an idea by something in particular look at this listing imperatore else you could be bond what was the sentiment day the right there grab funny but um can you tell if those you to stop your old business now it was the short 2016 13 puts the tuba and then buying the fifteen twenty dollars great through ball so you netting about zero and it stays at 1550 they have all the upside from 15 to 20 so what else do you want oh I’m sorry one last point on I particularly the neck so if you sell these they sell those for two bucks look at your buying power if it even you just do that without a net meta find power is only at all 20 or you could do 10 x 2000 but you’re not going to have 1,200 bucks to question tip out that super efficient that is a wonderful place because you get hardly any kind of ding it all on your market all right what’s your upside on 10th edition just as 5,000 bucks if it goes well let’s meet alright that’s how that’s why this is why we are only using one third about buying power but still making twenty percent that portfolio marchantia that this baseball tomorrow um now um carrots right so we just we just hope that dagger and how we love them terex like then to now 5 20 carats actually just about back to where what the 520 we like when we visit we thought you’re being smart CLE cook on 38 but then they had another bit an early report turned down you doesn’t it wasn’t that bad that we actually talked about of the crime and wasn’t we didn’t feel like adding more but we felt that was a real overkill to get down to 34 so there are 39 80 now that 3750 and out of trade on them they don’t pay dividend and we sell the 35 put to recall to pour right here

for 530 I’m he left it at that and always said we can we do that oh I see it could be a big whenever I wrote this I wrote this on 6 7th of the time it was well kind quick winner then that will change so yes this is another edition of the reason why when you make good money there pick up table that means much more money than we thought it would make very quickly so when written here the ear in June and have you taken it off the table here we could have got another ride from the same spot taking it off table again when we had trouble ahead get that in here another ride that mean was not faked out but we were still in much better shape than you on that but all we did here was say we sold these we have 30 40 football so this whole trade is still fine and again that goes back to because of the way we doing this you know you what do we did we take a 30 40 bull call spread for 550 not to not very similar taser all four sets of 5 15 we sold the foot survived 13 can really be net 20 for thirty dollar entry on the stop the stocks at 37 now this is not bad tradable you can still do this trade so therefore at least this price I think you can probably get a better price on the set and this one that’s still very playable ubnt that was a great idea i want that a while ago and they have been fantastic man i mean we came we even claimed earlier officially added it here at bottom 5 28 which right about here and they just went crazy but again you know it’s like dealing 34 2 45 when does a 33-percent a month it doesn’t take it off the table all right then get back and when we get to the downswing but in this case one of the two or 15 45 50 50 gold thread we weren’t very aggressive all meetings and we actually put those in the income portfolio so and i said it’s a strata is lower which you never did and we feel like we might sell the put you never got a chance to double its enforcement descrip going on wendys okay we like when these are all these references will to be EBA is a commodities as a commodity basket and we played that be an eerie light if we like it again actually this price now is throwing a light fitting but DBA is a etf of its Model T this is a lot of foodstuff and cognitive at the temple yeah but it’s all good so coffee sugar corn wheat flour you know what stuff so back here as it’s coming down that you know all these restaurants that are having bad reports and have trouble are not getting much much cheaper prices you know ease on that campus in citizen off a food cart rice little more complicated that because they have a thinning of the cattle herd what’s up chicken drop whatever there’s a lot of things to go into it aside just the crop numbers but the reality is limits when when food gets cheaper it’s good for people like Wendy’s is good with people like though whole foods and things like that so their food costs go down they don’t drop their prices to air and they pick up their marginal the teeny tiny margin improvements and restaurants like that acute so I like Wendy’s I think this little spike include of hurting them is coming off the table alright so a Wendy still a good one still need on these break-ins whole food same thing okay they’ve had margin pressure they’ve had a bigger ton of computation but early in the content insightful would have all these other competitors like that reported no clue but Wild Wild Oats to every corner and another one they when they come in they go cuddly to get a bunch of money in the open up store it doesn’t mean you can succeed somebody gave a bunch of money to open up some stores now in in in reality they don’t compare well to hold food and what happens is an old also the supermarket’s also in fact a lot of supermarket put in organic type of sections and so a lot a lot of people been trying to eat locally totally does not getting filled their margins are under a bit of pressure but that pressure doesn’t last because all the people who invested money and all the other change because they want to be like both those are now losing to whole foods and money’s pouring down the sink to them and they start pulling it back or getting out of that business of changing their model if the old is my whole foods and white growth going back their way also what’s her whole foods is as as commodity prices drop and grain prices got lower one who does hurt open if they don’t score internationally there they’re buying local they buy very

very bigger buying local produce so in prices went up in spite it’s very much in their table because their their daily local farm if local farming on stuff it means you know national pricing there they just think they say it I’ll give you this much as you’ve any apples so this much money and they don’t care what the price of Apple’s in Washington a girl for example vision you know st. in Missouri or wherever they are so they don’t get affected by those kind of swings up but on the other hand when other people start being able to Apple p / he does hurt a little bit of pressure off so little bit more compression but nothing wrong with their business model at all and so long term I like them short turn little rocky but a good one we like them ah let’s see we dress a DBA now that has dropped yet the jewel in TBA prolong firm I think the new take it away male role well it’s true things are you got more people of world but me more food you will have droughts to the wall over the place of the global warming and you’ve got a people switching to be a lot of people in China are pitching through a meat consumption another force is developing world and beef consumption just sucks a lot more resources than been grain consumption does need right sided so very very much long-term trend more demand for agricultural product now on the other hand we’re getting better making them the price of all can be out of control but the pressure is always going to be at the population pressures always in the head of the manufacturing pressure down like a mirror your efficiency pressure down and so I think that you I think that you’re always going to go to get lucky and such an upswing and DBA on the shortage so the curve the trick is just getting to the mission recognizes when you’re profitable like we did with DBA me catch those out you know in DBA pops to thirty bucks for 29 bucks we got the hell out because I you know we came into 24 banging the table on these guys to 24 but our plan was they get two to maybe maybe 30 in 2016 they go to 30 in July you in April we get the hell out that’s up to your target and again this goes back to that Levi thing up so hook up jeans again it’s the same thing you know your Levi’s at work forty bucks on sale you know they retail combined before tea anytime so when you see in for thirty dollars or even 30 but your excitement you might want to find but you know what what do you do when he goes sickly alright at 60 bucks ersan sipping schwab are busy signal Eugene I’ll tell a man i know they were 60 bucks I’d like though I know that include coming a bail i can buy in game 4 40 the old same thing you got to know the value of your socks you got to know not just when they’re cheap and you also have to know when they’re expensive and i know a lot of people just fall in love with their stocks and they can’t bear to sell inmates una dieta whatever he goes up to the board applet if you brought out 175 like we did they fell it to 100 and everybody’s like oh wow suit a 125 but no it’s kind of writing a hundred you know I do think apples because maybe 100 a pretty good price I’m not like jumping on a bandwagon here it comes it off with the enterprise to a belay that depends on the iphone 6 he’ll spends a lot of things down below two years now with we have s to 750 I’m sorry sir 750 750 the 125 so our long that’s on Apple don’t go any higher than won’t fit but let’s to have two years down the road at a hundred right now I’m not tho excited about all right we came in at 75 on we know what it’s worth now and we know it’s going to be worth in three years in between Ethan T up or down but it we’re going to serve great but if applicable to 125 I might not want to short it i’m sure it’s closed until every long with that it’s too much and you got to know what those prices are on your stomach at that may be what we start forward and this is again another argument to try to stick to things you know and try to try to get to learn stops very well over time all right don’t just trade but any annual thing somebody says try to treat things you know and understand then you’ll know when to get out of things you know when we get into this alright so Nelson Nelson Peltz was working on turn around when I think these I think they’re very turn around what can get fine mike says wfm its value to the krogers on PA look expensive but the company has no debt if they let me shop they can get throat I like you today moving Emmaline

be Europol so you’re having trouble that’ll be fantastic for you know there they’ve got lots are under extreme they’re not even there not a very big company their footprint is very small and as inflation ticks in between out of any inflation really on food obviously there’s food inflation kicked in but they don’t seem so expensive that’s that’s a very important point so the more more food processor what let’s take gap between whole foods and something else is more practical to fit versus the time Kate Watson has cute cute cute we are supposed to also ask you to but the problem is in 25,000 portfolio is it sounded like seven cents or something like that is 777 said is worth taking off stable now or go on it so it’s almost like a lottery ticket down off chance to be able to pull back and we get 25 cents for let’s give it a day taking their pull that all right it is basically money down to that it’s because of his death day we just kid was wrong he quote it wrong alright that’s hour and a half and thank you guys all right we’ll do this thing again next week we see there anything else to clean up on no I think we got everything maybe having live from the questions that take less than a minute to enter okay alright guys well thank you very much sir I did have a good weekend everybody and what could be controlling week and we’ll see you later all right thanks you