19 Episode results for "Morningstar"
Welcome to Abe Lincoln's Top Hat!
"Hey everyone welcome to Abe. Lincoln's top at hosted by me Ben Kissel and my young Squire Travis Morningstar. We're to news junkies here to report on the most complex political issues facing our country in an easily digestible way. That makes you more informed and more entertained. So who am I on the CO host of last podcast on the left and as listeners of that show? I'm a political nerd. Who regularly contributes to television news? And I've also run for political office with the Reform Party as seen in my documentary. Hail Yourself America and I'm Travis. We're excited to cut through. All the filibuster eight media distortions and blatant lies to bring you the truth. No matter what happens in what is bound to be a wild year will get through it together. So Hail Yourselves. Everyone will talk to you soon. Listen to ebeling its top bat. Free only on spotify.
92: Sustainable Investing, Smarter Savings, Breaking Down ESG | Charity Driggs, Morningstar
"Hey all you're listening to episode. Ninety two of ECO Chic. A podcast all about practical science and sustainability. My name is Laura Diaz. I hope you're having a Fab Day whenever you're listening getting to this today. We're speaking with charity. Dribs charity is a project manager at Morningstar and investment research firm. So charity is a listener of Eco Chic Sheikh and I'm so glad that she reached out to me because she has some awesome information that's actually super beneficial to all of us in this community. Charity is currently in a sustainability focused. Mba Ed programs. So if you're interested in going to graduate school this could be a really cool program to look into maybe at another institution Morningstar like I mentioned is an investment research firm. They're not trying to sell you anything. They collect data and help individuals and groups invest in a really informed way. You WanNa know where your money is being spent and where are you are investing now. I thought this would be an awesome topic to cover today because we talk a lot about conscious consumption on this show. We also know while a lot of us are trying to implement more ecoconscious habits in our daily lives the vast majority of greenhouse gas emissions and the vast majority of the warming in our atmosphere are comes from a few key corporations a few key players in the space now hear me out if you have a 401k or any kind of savings portfolio Jio you are an investor somewhere. It's crazy to think that you actually have a stake in a lot of these major corporations. I'll be honest with y'all firm and I am actually not as financially savvy as I would like to be one of my major goals for the New Year I want to know more about money and savings and investment. I want to know more about how the economy really works. And where my I money is going. And how many is flowing so I think the surreally awesome conversation to start a baseline understanding of investments and investing in a smart art way investing in sustainable organizations and even more broadly just investing in organizations that really align with your values cheerily goes over quite a few uh-huh basic topics for us to better understand and better wrap our head around all the terminology that goes on when we're talking about investments and more. Broadly we talk about a lot UH of concepts. That may be helpful if you're interested in knowing more about corporate responsibility and just environmental sustainability on a larger business scale so for instance we talk a little bit about e s G E S G is environmental social governance and charity. Explains this concept so well. It's a little bit reminiscent of C. S. Our corporate social responsibility. CSR is a practice and ESPN is more of a rating system but they play in similar arenas and we also talked about corporate social responsibility on last week's episode with Christine Baiter. She spoke a little bit about her time both as an analyst with BP and also as the director of social responsibility at Amazon and and she had a lot of other really great roles in between where she really started to develop a better understanding of corporate social responsibility and corporate idealism so that episode plays really really nicely into this. This week's episode speaking more in depth about es g so it is really great to be familiar with both of these concepts if you're interested in environmental consulting or some sort of advisory role so something along those lines. Charity also speaks today briefly about corporate sustainability which was covered in depth by our friend. Arielle on the last Sheikh shots call an episode and that was episode road. Eighty eight if you're interested in going back and listening to that like I mentioned today's episode is full of a lot of really good. Take home tips to figure out where your money is actually going what companies are actually supporting and just getting a better understanding on investment is really easy to feel like you don't have a stake in major corporations. It's easy to feel like. Oh I only have X. amount of money disposable for for supporting my values and supporting my causes but you may be surprised once you think a little bit more deeply about your savings profiles where those dollars are really being spent so. I'm really thankful that charity was able to join me and shut a little bit of light on this entirely new subject. Both to you and to me. If you're interested in getting in touch with me you you can find me on line on instagram. Easiest Way to get in touch at ECO Chic podcast personal page at Laura. EDS has also always in the show notes. If you want to support the show you can visit us. Totally Eco. Chic Dot Com for sustainability supplies. And there's a little pop up on the website totally Dot Com for you to sign up for our newsletter. If you're so inclined so that's where we talk a little bit about new the things on the podcast where we talk about any sales going on in the shop. We talk about climate news a lot of fun stuff so easy once a week. Reid if you're interested in signing up for the newsletter you you can also find us on facebook if you're on facebook so inclined and I guess the last little housekeeping thing that I'd like to mention that you rate review and subscribe to the podcast cast. It's a really easy way to stay in touch and to stay updated. Make sure you're getting all of the new episodes right when they come out. You can rate and review the show if you enjoy it give me five have stars. I really appreciate it and with that. Let's get into today's episode with Charity Drinks Morningstar investments all about sustainable investments ecoconscious investments and figuring out. What what you can do to be the most responsible investor possible charity? I would love for you to first give us a little bit of a run down on what it is you do on the day to day. Yeah definitely is so I work at Morningstar which is an investment smidt research firm here in Chicago. So I started at Morningstar after graduating from college with an a development program where you essentially get to try out different parts of the business business and I went back to get my Mba some currently getting my mba part time back at Loyola University of Chicago and they have a program specifically focused on sustainability so kind of bridging that gap between business in doing good in the community doing good for the environment in kind of bridging that gap the that kind of led me to start looking for different positions within morning star. That related to what. I was passionate about with sustainability in diversity and inclusion practices that led me to this role in ESP so what. I typically do on a day to day basis. I'm a product manager here at Morningstar and my role is specifically to kind of different elements. Where we have these? Es She ratings that we sell to individual investors or two advisers different asset managers so a lot of different target markets within the finance industry in my role is really to both teach the clients how to use these ratings in the different data points. We offer also integrate the great them into our products so are most common product that people know us for his our website so just Morningstar dot com so I work directly with our website to integrate is much. ESPN sustainability inability information on it as possible. I also work a lot from the marketing on so event planning for different sustainability events that we might have here at Morningstar external events as well as actually working internally to increase our own corporate sustainability. So I work a lot with our internal teams here both in hr in reporting adding just to make sure that we are increasing our unsustainability since we want to be a leader in this space to actually make big strides to become more sustainable in all of our business practices awesome. Thank you for that rundown because that sounds like a really holistic career like it sounds like you have a lot of hats and you're able to handle a lot of different the things that you're interested in so I think that's a really cool way to structure your day to day and to really structure career especially while you are going back to school and working for a financial organization I would love to. I break down some terms or some definitions that maybe people aren't familiar with if they're just starting to invest their money money they're just getting into this space of investments in general so you mentioned. Es Jeez you mentioned assets you mentioned products. What are some like really basic terms that we should start getting ourselves familiar with through the investment space typically for people that are individual investors? So that would be anyone. That's basically purchasing stock and trading stocks on their own they would be individual investors versus those individuals that have the ability to have a financial adviser and have a more robust portfolio there in just a few different types of users from that perspective. What Morningstar's really known for his arm? Mutual Fund Research. We do research on all different types of securities but what essentially mutual funds are are pulling different corporations investments together so that you're basically in a well diversified portfolio just through the fund that you're invested invested in so essentially you could have like thirty companies through one fund that you're holding in your 401k. Plan that is invested in the industry so so those are just some kind of basic terms around finance and the different target markets from that perspective what. Es She is is a way of assessing being investments so that you can invest more for the long term with a more stakeholder approach so the way that finance has kind of existed in the past and the way that the trends in the industry have been kind of backward-looking is in regards to actually maximizing shareholder profits. So this focus on just making a lot of money making sure that the stock prices always increasing has kind of been the focus in the industry for a while and what. USGS doing is taking more of a stakeholder approach where it's basically saying like just making money for the investor is not the only purpose that a company should have. It should be focused on long term sustainability and actually impacting societal. L. Issues in different problems. That are going on so what. Es G specifically stands for Environmental Social and governance issues so it's basically a way of analyzing analyzing all of the different risks and opportunities that are within an industry and funneling down in actually getting into the nitty gritty of whereas this this company involved and how sustainable or are they acting so from the environmental perspective we might look into specific data in terms of is this company investing in clean energy. Do they have waste management practices. What are their carbon emissions information like that from the social perspective? It's just as it sounds a lot more. People are related so from that. Full stakeholder approach not only is the company a treating their employees well by having robust diversity and inclusion practices but also also what are their consumer privacy practices for like distribution of customer data and information like that and on the governance. Portion is sometimes is the most confusing but what it essentially is just a way of looking at the company oversight. So what is the board's structure look like. Is there any history of bribery and corruption then within the company and all of these basically topics from the S G Lens just funnel into how overall sustainable company is so. What's really important to understand about? Yes she and what's changed a lot in the industry over the past few years. Is We understand now that these different don't data sets that we look at our unique to the industry so if you take for example like bp oil or something like that. There's a much larger emphasis on the Environmental Console Lens in. Es cheever says like say a bank or like Microsoft or something they might be more focused on the social lens so when we rate an overall overall company or fund it's going to depend completely upon what industry they're end. Obviously every single industry does affect the environment in a certain way but but there are companies that have a bigger impact on the environment so being able to understand that every single company has some sort of sustainability practices and changes that they can be making and we essentially are just grading these companies on. How well they're doing that? Okay awesome well. Thank you for breaking that down so much so from what I understand and as an individual investor me on my own any other random individual person would want to be investing in companies that have high marks. CBS she or merely well and ESPN. If you are someone who's concerned about the environment and concerned about where your money is being put. Yeah definitely and I think what's cool is. There's actually a lot more data. So we have our overall sustainability rating that we might assigned to an overall fund. But what's also cool is. There's a lot of more impact doc to related data that we also have available and a lot of firms in the industry are now kind of broadening their scope where we understand that what you think is sustainability is different different than what I may think so. We have a lot of data that can fit kind of the mold of every different person in their specific interests. Dan Ability so for example. A lot of the listener's this list. PODCAST that might be focus really on that environmental impact space. We have data. That would say we are stamping this company or this overall fund as being in low carbon and being water focused and different environmental initiatives instead of just saying like we rate it as an overall sustainable companies companies you can kind of get more focused into the different parts. You're interested in on the opposite end like there might be people that simply don't want to be involved in certain controversial topics affects so say for example. You're working at a nonprofit firm that is looking to eradicate cancer and to some cancer research. You might not. I know that the 401K plan that you're invested in has stocks that are invested in tobacco companies so being able to provide this data that tells for the consumer that might have a variety of different passions and values being able to tell that whole story of. Here's what you're currently invested in in the work that you're doing day today today actually is very different from where your investments currently set. So you might WanNa talk to. WHO's ever building out your portfolio and ask if there are options tends to not be involved in those specific areas? I think that's a really really good example because I was thinking about it on my own after we spoke last when we were just talking I I was thinking about gun advocacy groups and how much money might be put into different life more political and more controversial groups that I might not even be aware of so. It's definitely interesting to think about like where your values lies and individual and you may not be necessarily supporting causes that align with that so I'm also really interested to know so if you are an individual investor if you're putting your money into a 401k. I would love to know like what are some questions that you can be asking your financial advisor. Maybe you don't need a financial adviser. How do you want to figure out where your money is even being where do you start? Yeah definitely that's a great question and I think what's important for people to understand is you don't need to have a ton one of money to make a difference just starting to ask. These questions is trending the industry in a way that ESPN is becoming more prominent. So I think from the perspective of what questions we can be asking. You don't need a financial adviser to start asking these questions as long as you have a 401k plan whoever is the provider of that 401K Irwin K. plan likely has an es option or if they don't you can start requesting this see if they're gonna be able to make that available or if they're able to give you any any data specifically that can tell you what your portfolio's actually invested in so starting to have that conversation by first figuring out who your provider is within the company you work for us so within Morning Star we we work with Charles Schwab so you actually are able to call up that company and ask them questions regarding what options they have available willing if there's anything that's more geared towards having the environmental impact that's positive so that's kind of the first starting point that I would suggest is just starting to ask these questions questions and then also putting the pressure on your employer so your employer is making the decisions of which provider they want to go with from a 401k or financial perspective effective so starting to ask them if they're able to work with the provider to give Morrissett stable options from an investment perspective and if they can better qualitatively tatum explained to you like where your investments actually said so are they able to provide that data that tells you yes. I'm not invested in any tobacco products in yes I have confirmed. My portfolio has low-carbon. Just starting to start. That conversation is super important in kind of on that same topic starting to move corporations creations more towards becoming more sustainable and actually report out on their corporate sustainability is a really important trend in the industry that we need to put more emphasis. Assess on because I think the overall point of ESPN. Why I'm so passionate about? It is the general hope. Is that as a result of people moving their money to be the and more sustainable companies. Were hoping that as a whole the trends in the market is that corporations overall will start to ship this more sustainable business practices and the only way to do so as through our purchasing and through our investments so money is really kind of the loudest speaker in the space. And what's kind of holding the industry back right now. Is these corporations are saying yes. We know that sustainability is important but our shareholders that are invested in our company. They only care about profit. But that's extremely untrue. People have different reasons for investing in companies. Just by starting to have this conversation with your employer with your provider with your financial cancel adviser just starting to say that sustainability is important to you. Then it's going to basically inform these corporations that it is an interest for our investors is because you by having a 401k plan. You're an investor in specific corporations in your voice matters so they want to be able to provide to you whatever values and topics topics your most passionate about another thing that I would also suggest is putting the pressure on your employer to actually invest in more sustainable business. Practices employee. Engagement is a huge focus and business right now and the voice of that employees have to be able to demonstrate strategic. Change in a company is huge. So they're just reaching out to someone that's leader in your company and asking you know like what are recycling policies. What are our policies around diversity and inclusion and if they don't have a robust strategy around these ideas you can offer your time and your knowledge to be able to make a difference from that perspective so really they just kind of starting this conversation making it known that these are interest you really makes more of an impact than people might think? I'm really glad that you drove home. The point of talking to your employers really advocating for what you WanNa see in your workplace because I feel like it's getting a lot of attention now in the media and people are more concerned with maybe talking to their local the government's or talking to their school boards or wherever it may be and while those things are really important. I think that the workplace sometimes gets left behind as a place to think about where you can make an impact and where you can be talking to your officials or your representatives or whatever that equivalent may be in your workplace especially if you are in a corporate environment where you have the opportunity not to implement scaled change like recycling policies. Like you mentioned so. I'm really really glad that you drove that point home because I think a lot of the time people forget that they are also so really important to their company environment. It's not just you being citizen in your community but you're also working for a company that's making profits it's making these stakeholders goals come into life. And so I think that's a really important point that I'm really glad you brought up. I would love to backtrack just like a little bit about trends in the industry you were talking about how. Es she she is really becoming more and more prevalent and more of a concern for a lot of organizations. So I would love to hear a little bit about maybe an example. You could give about trends or anything. That's that's going on right now. The people may not be aware of you just mentioned it. Yes she overall is really taking over the finance industry more than we've ever seen it so in twenty nineteen eighteen general we actually just released some research regarding flows to sustainable funds so basically how much money is moving in two thousand nineteen into more sustainable sustainable funds and it grew four times in Twenty nineteen to cross over twenty billion in that flows. So it's really like over this past year jumped more than we've ever ever seen. Investment in sustainability which is great but we have so much more in the industry that we can be doing and more pressure that we can be putting on corporations to become more sustainable sustainable. So black rock which is the largest asset manager in the world the CEO Larry Fink he releases every year a shareholder a ladder and this year in January January he just released one. That's completely related to espn specifically climate and basically just discusses what he is saying As key to the finance industry as a need to address climate and this overall trend is really really important because corporations in in general are the biggest cause of greenhouse gas emissions. So I believe that about one hundred. Top companies actually accounts for seventy percent of all the greenhouse gas emissions in the world so really putting this pressure on companies to change their strategic practices to account for these trends friends that are going on in the world with global warming and climate change to actually change their ways in even yesterday. Bank of America's CEO spoke out saying that yes. She is growing because people no longer are just interested in profit and money but also while they're investing to make more money they also also WanNa do good for the world so trying to bridge together those two purposes so you can make money and still have an impact that benefits society and a great way. So I think overall these trends within the finance industry are here to stay and it's GonNa only grow as the attention is put on things like climate change and actually push. These corporations make big changes. I'm really glad you broke that down. Honestly because I think a lot about impacts the consumer and supporting brands that I really leave and whatever it may be but when you're talking about how you are looking at so few top companies making the largest contributions to greenhouse gas emissions it. It really puts it into perspective that there is a lot more money flowing than what you're buying day to day and when you're talking about investments and making sure that your fun is representing things that you believe in and it's just really heartening to see that there is such a trend in the financial industry moving towards a more sustainable future a more responsible future because I feel feel like we hear it all the time that companies are waking up and things are changing and this is the year for climate action but if the science and the math and now the financial world rolled is really all lining up. It is a really powerful thing to think about so. I'm really glad that you were able to shut some way on that. Honestly it makes me feel good to think that my money is going towards things that I believe in. There are a lot of people that can now think more deeply about whether money is going and being invested in my final question for you kind of to wrap up would be you gave already some really great great take home points for people to think more about where their money currently is. Do you have any like nice financial tips that someone can go home and do today to think about where their money is going and to make sure that they are giving the most responsible investments that they would like definitely. My biggest suggestion would be and I think you broke it down very. Yeah well where money in this industry really speaks the most in terms of where you're putting your money for corporations so both in terms of your purchasing decisions are very important as as well as your investment decision since they both our money that's directly going to the companies so my suggestion would be if you're interested in figuring out where your investments are currently sitting is if you have a four one K.. Plan or any sort of portfolio. Where you're getting a statement? Maybe on a monthly or quarterly basis. That statement will include information. Mation that details out what you're currently invested in so if you're invested in 401k plan you likely are invested in a great deal of mutual funds. What you're able to to do today is simply? Just go to our website if you could just go to like Morningstar dot com you can type in the ticker for that mutual fund indirectly. pull up a page. That has lots of information. Nation on that Mutual Fund and we specifically have a section. That's related to sustainability. So if you scroll down you can see what we think in terms of a one to I five scale. How sustainable that fund is and then you can also break it down? Further NC information on are we saying that they're low-carbon. What's the breakdown? I'm from E. S. N. G. Perspective of how well they're rated in. Just start this conversation of. Here's where I'm at. Currently I can see that. These mutual funds that I'm invested stood in some of them are sustainable. Some of them are not so much now. I can start talking to both my employer my provider my financial adviser and start the conversation of how can and I moved my money in a way that meets more of my goals to actually become more sustainable and focused on these areas that I'm really passionate about. I've said it before but I think the the thing that's most important to realize is everyone can sit here and say that you know I only have this much invested or only have this much free money available really any amount of change change makes an overall difference and being able to put your money both from purchasing and from a saving perspective in a way that matches your values really kind brings this aspect of your life that you may not have previously thought about a lot it makes it a lot more personal so for me basically being able to say that I know that my 401k. Oh One K.. Plans not invested in any gun stocks or anything like that. It makes it a lot more exciting because I know that this work that I'm not specifically doing but where I'm putting my money is going after causes that I really care about. I hope you really enjoyed that. Conversation with charity. Dregs rigs of Morningstar investments. I hope you learned something. I'm going to go ahead and leave the website down below in the show notes. If you're so inclined it's a really user friendly website Satan a really nice interface. If that's enticing to you at all I found it really interesting. Even just read some of their headlines. Because it's really interesting to see how environmental concerns concerns are impacting financial. Translate charity mentioned during our conversation and really figuring out what's important to the industry right now. I thought it was a really cool thing to look into. So I'll all leave the Morningstar website in the show notes. Don't forget to rate review. Subscribe to the podcast. If you subscribe to the podcast we do have an episode coming out on Thursday a bonus starter order pack episode so our first pack with a zero waste starter pack. I believe that was episode. Eighty four that you can go back and listen to if you're so inclined but I hope you're having awesome day and I will. We'll talk to you really really soon.
7 Ways to Make the Most of Your 401k
"The. Volleyball Answers I'm Alison Southwick, and I'm joined as always by Robert Broke Camp Personal Fly Nancy expert here at the. Yes this is the day after the vice presidential debate that we are taping. So these are the jokes everybody. All right in this week's episode, we're talking about seven ways to make the most of your 401k all that and more on this week's episode molly politics. So Alison, what's up Albro? It's been a while since we've just had some meaningless stupid fun on the show. So guess what today's the day. Yeah I know it's exciting because instead of me essentially giving you a book report on something I find interesting remotely tangential to money I'm GonNa make you play a game about something I find interesting and remotely ten. Money yet wreck put your phone down this one's for you, right Amazon Prime Day as our listeners are listening to this today is the kickoff to Amazon Friday as we are taping though, of course, as we mentioned, it's something in the future and millions of Americans are awaiting with thumbs of twitchy purchasing anticipation. So Prime Day was supposed to happen back in July this year but because of the pandemic, they decided to postpone it to October thirteen and fourteen you can expect discounts on over one million items. Is it stuff you need who cares you'd be wasting money not buying it so let's take a moment and see how much you to know about prime. Day, are you ready? I'm ready to be embarrassed. Are you ready? Anything Amazon I'm. On. It I question The first Amazon prime was in two thousand fifteen to celebrate the company's twentieth birthday, they were estimated to have made nine hundred thousand in sales. Well, how much did they do in sales for prime day the following year in two thousand sixteen and we can do closest without going over. To they made under a million the first year. One dollar now I'm just kidding I'll say three million. I'll say. FIVE HUNDRED MILLION Well. They made a well supposedly in sales. They made over one point five, billion, three, colby, embarrassed. This brick too embarrassed. To be so smart sounding on all the other episodes because you know so much. Research right because he does research it's. Like anything about buying stuff like I'm the I'm the last person knew anything about retail oriented things, but anyways, go ahead. Keep making embarrassing guesses. Great Congratulations Rick the first point. Okay. So if that's how much they made in two, thousand and sixteen, how much did they sell last year in twenty? Nineteen. So, one point, five, billion in two, thousand, sixteen. How much last year in two thousand nineteen. You can go first if you want. A. Five, billion. Bro. Four point nine, billion, seven, point, two, billion. A. Seven point, two, billion that's a lot of doe ray me but that's not the biggest shopping day of the year on this big stupid globe. Retailer is actually responsible for creating the biggest single shopping day of the year multiple choice. Makoto. Libra. Alibaba Google or by do. I would say a number two bottle. That, all say by do just to be different just to be different. All right. Well, guess what bro You got it because it's Alibaba with their singles day specials. Have you heard of singles day? I don't believe I guess what you're about to learn a lot more about singles day. Alibaba singles day in two thousand nineteen was estimated to rake in thirty eight point four, billion in sales. Yes. That's five times prime day. Two Thousand Nineteen sales started at midnight and Alibaba reported selling one billion dollars worth of goods in the first sixty eight seconds. Jeez. This is tough but I think you're smart enough to figure it out what day does singles day fall on in China? The start of the Chinese New Year. Valentine's Day. So. Rick was a little warmer, but you're both wrong. It's on November eleven. So eleven eleven get it because of all those ones according to vox singles day was started as an unofficial celebration of a person singled them. It was founded in the ninety s by Chinese university students. As an anti, Valentine's Day the day was selected eleven eleven as it is fittingly full of wants to symbolize. So Living Alibaba latched onto the idea of telling Chinese consumers to embrace your singleness and treat yourself by something get yourself a gift. Speaking of treating yourself what is the thing? Allison keeps buying on Amazon that is bringing her the most joy during this time of awful is it roller skates eraseable pens. Various and Sundry Artisanal Hard Seltzer delivered through whole foods or dominos and other board games. I'd like to say Board Games, but I'm going with the. Celtics to. So yes. I did buy Roller Skates as an adult and I've been roller skating with my daughter. I know and I have been trying new every new hard seltzer that hits the market and I can tell you some are breathtakingly undrinkable. And we have been playing a lot of domino's my house but the thing that is bringing me the most joy is my friction embraceable pens made by pilot. They are not a sponsor I am endorsing these because I love them they're the Gel pens, not the clicky ones. And they are just a delight because they are entirely raceable because it uses heat to make them go away and I just love him so much I use a different one every day, and this is what it's come down to. Now if you'll excuse me, I'm going to go up my skates, pound a heart seltzer and destroy my seven year old daughter at a game of dominoes us. That's not true. She always beats me and that bro is what's up. With interest last show. Interested. Now. From. Forty years ago mild-mannered benefits consultant Ted Bennett was sitting in its Pennsylvania on a Saturday, working on a project for one of his clients who is looking at a law that was passed in one, thousand, nine, hundred, ninety eight, and it occurred to him that it could be interpreted in such a way as to allow employees to make pretax contributions to a savings account. pre-tax was pretty important back then because the highest tax bracket was seventy percent furthermore for to work enough lower paid employees had to participate because by law, these types of plans couldn't just benefit the higher paid folks. So it might be possible that employers could match their employees contributions as an incentive to get them to participate. Now, this nineteen seventy-eight law was not written for this purpose, but also didn't explicitly prohibited. So Mr Ben a shared the idea with his partner and they shared it with one of their clients who just happened to be a cabinet member in the relatively new Reagan administration. This cabinet member put Mr Bennett in touch with the treasury officials in charge of the. Regulations that govern this law he got the government go ahead at a new savings account was born one named after section four zero one subsection k. of the irs code in other words in Mr bed is words the birth of the 401K was a fluke. It was not intended to become the number one way for millions of Americans to save for retirement. Yet here we are by the way the client that I proposed the 401k two, which was a bank turned it down. They didn't want to try something that had never been done before. So the actual first 401K was with Benazir owned company, but they didn't want to do the investing. So they turn to another Pennsylvania Company, which at the time was just six years old that company being vanguard. By nineteen eighty two bend his company was administering fifty plans with the help of a computer from a company named Wang that cost sixty, five, thousand dollars. So we've come a long way, and of course, since one thousand, nine, hundred to the four one K. has just taken off. For what it's worth Mr Bennett has very mixed feelings about his creation. He thinks that in many cases for in case it become too complicated and too expensive. Deed when you look at like the whole defined contribution system, which includes 401K's as well as three B.'s and the federal savings plan in the employer sponsor plan. Basically they require that employees become financial planners, investing experts in their spare time. Right. Each participant has to determine which type of account to choose, Roth, how much say how to invest that savings, and then how much you could take out in retirement. And then another complained, of course, is a captive nature of the system employees are stuck with the plan chosen by their employer with limited control over all the cost in the investments. But still while not perfect contributing to your employer's plan year after year candied provide the foundation upon which to build your retirement. Especially, if you follow these seven recommendations, take it away allison and the first one is save enough and take full advantage of the match. Right so everyone should know this of course. You got to save to benefit. How much you should be saving time it depends on an awful lot of factors such as when you wanNA retire whether you're covered by pension some people still are. And how much you've already saved. But a good rule of thumb is that workers should aim to say fifteen percent and even higher if they're getting a late start on saving for retirement. Fortunately for the majority of workers, they don't have to come up with that fifteen percent all on their own most plans do offer a match with the most common formula being fifty cents for every dollar saved up to a savings rate of six percent. So for these workers, they need to save twelve percent the employer kicks in three percent. Unfortunately, most people aren't saving that much. The typical average is anywhere between eight to twelve percent depending on which plan you're looking at, and in fact, up to a third of employees don't even take full advantage of the match. So the very least you have to be grabbing that free money and most people should be saving more. All right next one, choose the best investments. Oh, you make it. Sound so easy. Bro. I'm GonNa tell you how the best it's very easy anyways. One of the biggest drawbacks too most 401k's is that the investment choices are limited to a collection of mutual funds The situation has improved significantly over the last twenty years or so as more plans. Now offer index funds and target date funds. But most plans still include at least some underperforming actively managed funds, and also I should say while a big believer in target date funds for the hands off investor, they tend to be more conservative than what the typical motley fool listener or reader would choose on their own. So you had this collection of actively managed funds in front of you here's how to evaluate those plans. Look up the fund and Morningstar Dot Com and you gotTa make sure you use the same ticker as the fund in your plan funds often have multiple share classes with the main difference being the cost. So make sure you're using the ticker, which will be five letters last one being an ex and not searching by the funds name. Okay. So once you find the funding Morningstar, Click on the performance tab scroll down to the trailing returns there you'll see turns over various time periods one, five, ten years in fifteen years if the fund has been around that long. Most importantly, you're going to see the funds percentile rank that compares its performance to other funds with similar types of investment objectives. So let's say for example, you're checking up on your US small Cap Value Fund, the percentile rank measures, how it fared relative to all the other US small cap value funds, and this is crucial because it makes sure that you're making an apples to apples comparison, the lower the number, the better. So. For example, if the funds percentile rank is twenty five than it is performed in the top twenty, five percent outperformed the other seventy, five percent of those types of funds for that time period, and you should be looking at a longer time period if you can at least three five years, ideally ten if the funds been around that long. So, all that said you can have a fund that outperforms most of its peers, but still underperforms at index fund. In that case, it might be time to just ditch the actively manage fun for the index variety if you can. I should add that. It's possible that your 401k we'll have investment fund that are basically they don't have tickers and these are most often collective investment trusts that have been designed specifically for that plan. Generally, you'll find these in very large employers actually they're pretty good. So if you have these new plan, compare their fees and performance to an index fund with a similar investment objective. Number three cheese stocks or other funds if you can. Yeah. Take one of the most disappointing aspects of the defined contribution system for Motley fool listeners and readers is that most 401k's don't allow participants to pick stocks however, if your employer is among the approximately twenty percent or so that does offer aside brokerage account than your investment choices are greatly expanded with that side. Brokerage account you can buy individual stocks bonds ATS in probably choose from among thousands of other mutual funds just like you would with discount brokerage account, I will say about the mutual funds that it's important to see whether you're GonNa have to pay a commission. So you might have a side brokerage account or even just a regular discount brokerage account outside of your 401k. That doesn't charge commissions on stocks, for example, but for some funds, you might pay a commission of up to seventy five dollars every time you buy the funds. So just make sure you are aware of that the funds that don't charge that commission will have often N. t.f next to it listed on the site ntn stands for no transaction fee. I will say though that sometimes these funds have higher expense ratios. So if you're putting a lot of money into a fund, it actually might make sense and you really love that fund to pay that seventy five dollars commission rather than paying a higher expense ratio year after year. I feel like you are among a small class of people who? Would actually use the phrase I really love this mutual fund. Italy fashion. That's a passion that runs. Lights of this country and you're one of them. You know what I would say I would say what I'm more likely. Say I really love this Fund company because it treats its shareholders very well, I would throw the vanguards. Dodge. Cox's those types of companies in that category. I. Never Four coordinate your 401k allocation with your other accounts. So. Ideally, you at least have a couple of good options within your 401k and you can choose those to play that respectable in your asset allocation and then you sort of round out your portfolio with all your other accounts, your taxable brokerages, your IRA's, or even your spouse's employer sponsored account. So for example, let's say your 401k is particularly good international, Stock Fund in Smallcap Fund you could overweight those in your 401k and then you focus on other assets in your other accounts. One area actually where defined contribution plans often offer above average choices are in sort of cash in bond like investments, and this is especially true for three plans. You know these days you're not getting anything on cash, but some some defined contribution plans do have cash or bond like. Investments that are still yielding one two percents. That's one way in which you might favor your 401k for that type of investment. Many Motley, fool members and employees myself included like a mix of index funds, individual stocks, and since almost all 401k offer index funds. Many fools, US their employer plans for their index portion their portfolios, and then they used their other accounts for other types of investments. And I would just add this sort of raises a broader point like when considering your asset allocation, it's important to focus on your entire portfolio and not just one account and one excellent way to do. This is through a tool like Morningstar's instant right which is awesome because you just enter all your investments, your stocks, mutual funds. ETF's. And actually peers into the fund holdings determine how much you haven't each company sector and asset class which I think is pretty interesting. Number five move your money if you can. Yes we highlighted this at a recent episode but I'm just going to point it out again. I mean if you have less than excellent 401k roll over the money to an IRA as soon as possible and here are three ways that you can do it. Number One you've left your employer if you've switch to another job or retired indefinitely transforming. Number two. Most plans offer in service distribution, which basically lets you move money even though you're still working with the company. Though, it does depend on whether the plan allows it in certain criteria. The most common is that employees transfer at least some money out of the plan once they reach fifty nine and a half, just check with your plan. To, see if this is available to you and then the third one which we talked about many times this year is. Covert related hardships that thanks to the cares act if you have suffered any of these hardships and there's a specific list of them on the IRS website, you can move one hundred thousand dollars out of your retirement accounts. You do owe taxes you avoid the ten percent penalty. But if you put that money back into another retirement account within three years, it's like it never happened. So this is a way to get money out of a bad 401k into an IRA. Just make sure that you're following all the rules if you have an accountant or someone like that, call them to make sure you're doing it properly. Never. Six contribute beyond the Max if you're plan allows it. So every year you've probably heard about the contribution limits with 401K's in twenty twenty that limit is one, thousand, nine, thousand, five, hundred dollars within additional sixty, five, hundred if you'll be fifty or older by December thirty first, but there's actually another sort of all in limit and this year, it's fifty, seven, thousand, dollars, sixty, three, thousand, five, hundred, fifty, and older crowd. This includes everything that goes into account so that you what you put in an employer match. But if your plan allows it, you can make. Additional. What are known as after tax contributions on top of that in about forty percent of plans do allow this don't confuse after tax contributions with Roth contributions which are after-tax. But that's not what this is talking about. Roth grows tax free these after tax contributions grow tax deferred that is you don't pay taxes until you make withdraws. But you might even be able to get around that by doing an implant conversion again, if your plan allows it, so I'm not going to go into all the details. It's not everyone can do this, and it's really only for the people who wanNA be super savers. But to learn more, do an online search on terms terms, after-tax Ruin K., or the mega back door Ross, which is. I just go back door. That of our listeners just like wait there's a mega backdoor roth. Yes Google it. You'll saw. At is the sound of millions of computers across the nation googling right this second mega backdoor rough. Wow. Someone had good pr when they created that term. All right. All Right Elise seven advocate for better plan. Yeah. So everyone at your company, you your boss, the HR department you're on the same 401k boat is a plan has pie costs super vestments, limited flexibility that everyone's retirement prospects suffer. So do some research gather data and recruit allies maybe help you persuade your employer to improve your company's 401k maybe even replace it. A couple of resources for this Christine Bends, at Morningstar who is one of my all time favorite personal finance writers. She wrote an article in September called a checklist for lobbying for a better 401k. So that has some great information. Over. On fool dot com, there's an article called dear boss fix our 401k written by day data Yoakum founding member of the answers team and composer arranger our theme song So search on full dot com for dear boss fix our 401K. Has a sample letter will say the the article is written several years ago. So some of the numbers are outdated but it gives you a good framework for how to maybe talk to your boss about approving the Plan Over the years I've heard from readers, listeners who have successfully convinced. They're players to at least add features to their 401K's chain plan. Altogether, there's no harm in asking, and if you're successful your future retired south and those of your colleagues will thank you. Bro That was great. Maybe you can come back on the show again that was fantastic if you're asking me no andrew it. Before we go. I, just want to say a quick hello and thank you to Juliet and David. There are a couple of listeners were kind enough to sit down on zoom call with me today and they're investing experience Truly lovely people with great stories. Thank you again. All right. That's a show it's edited. got. Back something like. Or emails answers a pool DOT COM jobs line. Ask US a question. We probably have mailbag I'm so coming up so we'll try to get to them as we try. We try Bro we try I know you feel bad that we don't get to answer all the questions but we try I do I'll give you a preview 'cause the next person is going to help us on our mailbag is Jim Mueller who's our resident options experts. If you've ever had questions about options, you could send us those but keep in general nothing nothing too fancy. But gyms going to join us and talk a little bit about investing in options and all kinds of good stuff. But Robert. Bro Game I've Alison southlake stabilised everybody.
Streaming In Place: Lucifer S02E14 with LaToya Ferguson
"To televise streaming and hello everyone and welcome back to streaming and place. We're here dogma. Lucifer's season two episode. Fourteen Candy Morningstar controversial episode. Some love it something and I guess some people dislike it. I don't know we'll get into it but before we do. We must begin for that. You know benefit of those who are not in the chat there will be a link in the post it for this episode because Knoll. What did you gift the chat today? So the sued features loose forseeing crime solving death and makes sense to do everything that and then they. They being the official Fox Youtube Channel for the show. Which is still op- even though Tom Fox anymore did like a one minute Lou puppet for like a karaoke purposes and I- gifted that to everyone here because I founded yesterday as soon as we finish watching episode could be like I wanna I wanna see that again but then they were just like. Oh no we've got you and it turns out it's too like the theme of the theme song the Little Riff that they do on the title. Kearns. That's just very good and also I appreciate the self awareness of the show do this. Yeah Yeah No. I mean they've already shown that they are very comfortable with that with like the good cop. Handsome Devil COP comments. That was back in season one. But yeah. It's it just gets more self-aware from here and I am for my opinion. I don't think they've gone too far into that into the navel-gazing I think they find just that sweet spot that we get in this episode. Marcus says it looks like it was posted right after this episode aired originally and yeah that tracks that that makes means that they're which means that they knew exactly what they have on that when they did that little bit in the right in this episode when we need to make a video of this real fast so it's very good so yesterday. I asked the Toyo where she stood on this episode and we are both very pro this episode we we enjoy candy and this episode of General. I'm curious we're we're Nolan. Alson where you guys fall down this. And we're GONNA start with Allison because I was delighted to receive your text yesterday Because I just got an all cats I so did call it. How did your enthusiasm for calling? That Lisera was in Vegas carry over to the rest of the episode. How did you feel about canning? Candy Morningstar about the episode and the character. You know I was a little bit worried at first. I and I shouldn't have been because it would be very unlike the Lucifer of this season at least to Write a character like candy and allow her to be an underdeveloped stereo type so and I should have known better In about halfway through I was like I just I mean they let her do the thing where she's good with faces and she figures that thing out and she's obviously good hearted and this is still bad so once we get to the end. I was like okay. Yeah Yea Cuckoo Cuckoo Cuckoo So generally that was the only issue that I really had so generally. I really liked it. I feel like The the entire story hangs on that final scene because all of the things that don't make sense suddenly make sense like a new and actually more troubling way once you put them in sort of the framing of what's going on with us for sitting ex my partner. He was like this doesn't this doesn't make. Y It's not like him to be this totally oblivious to the reactions of people around him. Why all of a sudden is he acting like he doesn't know what people are feeling? And how like an isn't in touch with With their response to him Which of course. Then he is provoking it. So it got way merging after that and yes I you know. I felt a certain level of satisfaction that I that I called it. Marcus has definitely works better on re watch and I was. I was GONNA say the same thing I think it once. You have context for candy going back and re watching that performance in that character and the little things that are happening I think a clicks is even more satisfying At least for me know what did you think about it? No I I agree with. Allison I think the absorb works really really well and I agree and mckernan ever talking about this at the end of the episode of it really could have gone either way but it felt weird for them to do like a broad stereotype of this kind of character within this show but at the same time like the idea that she was helping him because he helped her with. Something would have also been piece if there hadn't been reveal but the fact that there is the reveal and the fact that it was still a matter of helping her in some way I think again still fits within a larger pattern of how loose for operates and by Blues for operates the character operates also the show to extend but in this instance very specifically the character. And I think that because of that like Allison said it's slow things back into place but it also makes the overall episode really delightful. Because I think the big key thing from that whole thing with candy is the fact that it's pretty solidly easy to Trick Charlotte and that's important. I think going forward because she was just so thwarted by this woman who wanted to maybe oaten open up both a juice bar and a tanning salons or maybe both as a combo rush a Combo area She was just completely thwarted by it. And I just Tricia Helfer who saying this may be the most formidable person I've ever met. He was like this is just the best thing. Also you're not getting enough in Los Angeles. We'll tell you. How is this rewatch? I love episode. I love a canning Morningstar. I love Lindsey Gort as can be more sorry. Mix Of course miscarry. Diaries which is often I miscarried was thank you. You're welcome It's just it's a fun episode and I know a lot of is perceived just remembering from what I watched it. A lot of people hated it because People get upset when you get in the way of their ship so. I'm just like come on guys. It's not is clearly not going to be a permanent thing. And of course obviously it's revealed the end that it was all A plan but yet people got really frustrated or ban like come on people I think it's a great performance I love and I really appreciate this episode. Like originally watching it too. I just love that. Yes The the candy that she plays is very ditzy but at the same time she is. She's got like an emotional awareness and she is helpful in the case at multiple times to The case which I will even say I've rewatch this recently even before this number I did not remember what happened in the case. Who did it? I remember him singing eternal flame. And that's like he's got it. I remember I've said it before. But these shot when Thursday seasons. They were technically shooting in. Vancouver but they shot a lot in la. So much of this is on the sunset strip like legit on sunset strip. It's in safe the abbot. How much percent do you have to film in Vancouver to get like the tax break because it seems like they just did that much than shot the rest of the La? Yeah which actually you mentioned the La thing raises like something. I did want to discuss Was the fact that supergirl billboard is very conspicuous in the censorship. Shot shot so my question for everyone. Also based on what we saw in crisis on different earths with the watchman billboard is just earth six six six on earth six six six everyone. I believe it it may because I think we are means that Lucifer is in Los Angeles from the Toyota. You're not doing a good job of like every night. Yeah you know. If somebody was going to find a way to keep a nightclub open and have social social distance it would be Lucifer. Mike like everyone's in a sexy cage that six eight apart from the nearest cage or something. Yeah figured out also in Lucifer. They're always just going over. La I aren't. They like the Hollywood. Division was going to Santa Monica. Lots of West Hollywood east Hollywood. I'm not gonNA be going all the way over there o. Jurisdiction does not exist in this show. Yeah the the number of times that character usually it's Khloe Because of the context bail advertising characters like you know what I think I should do morphing and like they drive to what must be a very complete different part of town to like you. I think I think we're going to call off this date. I'm going to go visit Lucifer or I'm GONNA I need. I need to pay with Trixie or whatever it is. It's like you're going to schedule Babysitter. You'd like their logistics that we're not touching and we'll say they mostly stay on what should be the west side of La. So I'm GonNa make sense. I still go on. They're going places. lurker says. I L about that all the time. They have a case in Long Beach. All different city and Marcus says they sometimes drive to obvious Vancouver. Yes yeah look what they do downtown things. That's obviously Vancouver. Yeah I mean we all watched. Cw that we. I basically navigate my way around and I know the woods Vancouver so I don't even notice it though like I obviously shows that are in a different like so like black lightning in Atlanta totally different. Feel in luck right but as far as like. Oh that's the same set as from this other I. I'm able to dislike turnoff that part of my brain when I'm watching. You're so lucky and yeah I just. There are a couple. It's it doesn't happen for me all the time but there are a couple of locations like there's there's a building that is a bank on the flash that shows up in everything like it's they must be one of the locations they use most frequently and it's just it's been something on legends. It was something on. Its but it's very specifically a bank that gets robbed all the time on the flash because people inexplicably are constantly trying to rob banks in central city. Knowing that it's home to like seventy billion speedsters anyway leaves the dumbest villains really dumb thing about geography in general Rewatching angel especially living. It's always a trip because if we want to talk about geography issues in Lucifer an angel literally going all around California. It is absurd. I feel like Angels Office was in downtown and then it moves to the east side and I feel like open heart on the west side. There's this happening As an episode on a podcast Injury Watch broadcast Darlene juicer killing people like on the west side of their in Sherman Oaks. It's out of control. Market says the Vancouver libraries like ten different things on ten different shows and see I would say like. Oh that's interesting but I don't want it to be interesting because I don't want to start noticing it things. I always kate. The one thing I do notice is when they film stuff places have been every now and again they film stuff in Chicago. And I'm like I have been charmed by that but I don't care it's just more fun for me Speaking of being charmed we've talked about Candy but I think they're the I I really enjoy the performance and the character with the context of she knows everything because that just says so much about who she is. Can you imagine being like okay? So this is the goddess of all creation. And I want to find out if she's messing the so you're GonNa go shopping with her like I can't brain won't wrap around it and we're saying we don't like I don't even remember the case of the week in any meaningful way It was abandoned Wash yesterday don't care but I am very invested in Charlotte Candy shopping shopping spree. There's only one part of this up so that doesn't really work for me and I'm curious if it's just me I think it might just be only me I don't think they pull off. The KHLOE is candy thing and for me. It's a rare bit of like I don't like the performance I don't think it works and it's not. You're not nearly as good at this. As other actress and character is at this while she's painting candy with a very very broad stroke to as a thing she doesn't really see that candy is has more substance to her until the end honestly when she realizes hey can he's not the enemy but he's not he's aren't euro honestly gays right. Well I mean because like again it just takes a lot of maturity and intelligence to to do what she's doing and she's like the very carefully right and play her like you. WanNa not like her because she is that person coming in to disrupt your ship. But she's not she's so like she's interesting and she's smart and she's a perceptive and aware about you know things as much as you can expect someone who is brand new to all these dynamics But like it's he's the charming and nice and even dammit you know she's actually okay fair enough in that scene. I I. Don't I think the guy is supposed to believe that she is a person and I never believed that the guy should believe that she is an actual person. He's also confused like when she insulting quote unquote herself. He calls that out basically yes She's very undercover Khloe. We'll see more about this season. It's pretty there's a reason why doesn't cover. That's why I love it you know. We were talking about alias last week at least I think it was last week because it was who anymore And and I think we specifically maybe talked about the Super Bowl episode which is the fall of St six episodes starts with Sydney on a plane in lingerie with backing black playing. Because they were like wait we have oppose super bowl. Slot hold on. Let's come up with the most appealing thing that we can think of to a heterosexual sexual male audience so that we can get them into watch. Our squishy spy drama. But I always part of the reason I like that upset so much because it's just it gets so much accomplished but they took a thing that they obviously wanted to do which is put Jennifer Garner in lingerie with a riding crop on an airplane with back in black playing and then found a way to justify. That really does work like it's a it's a great opening that's in this feels like in some point in the writer's room they're like well let's have. Khloe dress up like candy and then stopped because that scene also didn't really work for me. It was the reveal was fun and then. Khloe just didn't seem particularly interested in doing her job. Well which seems very out of character especially because if she wanted to have a fight with Lucifer she had plenty of material. She could have just been her right like they could have just gone. She could've said her name is Candy. Morningstar and then they could have just had the fight that they were having and found like a different context or some of the things she was so it just felt like Like she was added her job in a way that seems out of character and not intentionally. So I don't even know if we should be back on the job because it's been two weeks and she always in a cheese. Therapist also is anything not Linda reference to his not Linda also just for context while was two weeks within the show Actually it was three months episode. Yeah so that's how that was. That was a weight hyped up with the three part of because of like three months of no show. No what did you think of all this. So of cut to the chat real quick in that lurker thinks that close performance sort of the point on that chloe's just making stereotype in this bad at it And Marcus says the CHLOE's looking down candy while I don't think while he doesn't think that candy is looking down on Canada's performance of person. I think those are both kind of accurate Marcus's in particular I think. Candy just fully embraces the concept and then lurker adds that makes sense because. I thought this was the start of season. Three very confused wasn't in reference to the time the timeframe I think that literature was just mentioning so for me. A lot of it just boils down to a lot. Of what Allison's just said in that I agree that is very much feels like a concept of. Yeah but there's no an and then that chloe refuses is so angry that she can't get through it basically and the degree to which that works for me rides writes is how well she does the actual thing but she doesn't do the actual thing very well. The actual like undercover stuff. So it's just kind of a very flat sort of thing so much so that I ended up feeling bad for this. Very sad man. Who's very sad already for reasons that we don't get out of that closet of memorabilia for the band but it just doesn't feel like a singing that I think goes anywhere from level and doesn't really achieve anything on the character level because of how deeply committed Lucifer's also to faking everyone out so it feels like it's supposed to be funny for to get clothing Warren German to do something very different. But it just doesn't go anywhere. Like the initial impact of seeing her made up in the code and everything is good but then it just stops being good and just becomes like a weird cat fight between the two of them that doesn't resolve or feel like a result of anything because we have to resolve it with the sing with the song sort of almost Which works better than resolving it with mediator that you're trying to interrogate slash trapped into confession? There's a lot happening in that young. There's too much happening really So it's rough. Let's talk about Parts of the episode. What did you guys think maze just like just staring directly into candies? Chest and like appreciating harasser chest. Thank God great tastes like that. That's a person you're supposed to be getting better at this stuff. Lurker says my favorite. She is getting better at this stuff. She didn't like try to seduce her right there. And then that's a major step forward for me better like boundaries. Okay what did you think of Medio? What happened with Amenity deal? I answer well. Yeah no but just like how where he's at. How do you have anything? How do you feel about him? And we're at with all of this right now and we're your interest and allegiances with with mom and with Amena deal and with with loose fern. All of this Well I mean in general. I would never have predicted that at this point in season two. I'd be so worried about my precious lamb veal never in a million years. I think that would happen but I just. I don't know I I feel like if everybody is seeing Dr Linda. He should get some time on the books. Is there a family plan like there is for cellphones? They should figure something out. But I guess what it comes down to for me is whether or not you think. Charlotte is being honest yet and I guess I don't It's I mean. It certainly is appointed in her favor. I guess that she gets got so thoroughly by Candy Which is actually sort of perfect because people often the thing that makes them. Weakest is the sort of unfair bias that they have against others. Because that's irrational. It's easy to manipulate so it makes sense that the thing that Lucifer would manipulate would be Charlotte's assumption that humans are stupid vapid puddles of like Fart. Sounds like they're just like wet sacks. Walking fart sounds what tax. They're just went meet meet sacks walking popsicle popsicles of meat so of course she would underestimate any human and that human in particular which of course is what she gets. Got Big I feel like I don't trust her motives and I will. I do believe her emotional investment in heard sons also. My dear son was very funny and also the word will be over soon. Yeah and then her talking about How Lucifer betrothed himself to a human really made me laugh a lot Anyway Yeah I don't trust her motives which means I fear for everyone who is in her and I hope that may is remains on high alert default settings. I mean she like it's not high enough alert that she's not willing to make popcorn when she realizes extremist happening. But it took my and now for a word that something is wrong. Yeah I think that we can trust that in her own very weird ridiculous way. She cares about her family But they're also means to an end to go. Kill God with as royals laid. I guess sort of what? We're building up to here maybe possibly Which just saying that is also very much. A supernatural. Natural will be also just Severi anime thing to do of like let's go kill God and it's just like harake heads all right but I think the for me. It's just I'm I'm glad we're approaching the end of the season because I'm not sure how much longer you can stretch this out either From like a pacing perspective but also from a just what has happened to many deal in terms of allegiances but also wears his hat. Because we don't get like too much of him which I think is one of the larger problems here is that we get him being frustrated with Charlotte but he's also the only one talking to Charlotte on a regular basis in a non threatening manner In so far as he's definitely trying to help her in to a certain degree because he has questions for that but it just it there needs to be like an initial focused storyline at some point. Here that kind of tells us more about where he is. Okay Yeah I want an Amenity L. episode. I'm just very excited for the next two episodes. I won't speak on the blade since I know nothing. Don't worry about it okay. There will be more amenable. We consider that. There's more managerial stuff coming. I think the fact that Alison. I were both just like one. And is I'm still thinking about him shoving nurses in slow motion. That's that's where my head is that he stole doing that even though close not in that hospital room guys. I had a really big moment the other day. We're GONNA need no taste. Do this for two weeks. Yasim boost up the self-esteem well if you're hanging out in the chat and you have other parts of the episode that you would like us to touch on. Please go ahead and drop them into their otherwise a couple other things. I was delighted by the opening of the episode. Whatever like the humans like are getting ready for fun sexy times with any of our Lizard Ram and then it just like. That's a little. I never get tired of that little bit of like okay. Got Two weird What is your son? But but I'M GONNA I'M GONNA go. This is at least the second or third time they've done that and I don't care it's still very funny scene. The three-month doubt total explains why that Exposition heavy scene is there. I was saying why is this here? It was just last week and then knows three months ago and I was just like that just puts Antonio contexts because I was just like that was just so much exposition that they gave us Tricia. Helfer killed giving all that exposition but yeah it was a lot of exposition. They're going to get into it more. I'm sure but it gives you couldn't tell Fox didn't treat this show well so like this. Give Yvette while a give it sir nine more episodes but we get five more than the other four are in season three. Yeah they're tacked onto the end of season three editor at the end two of them are mixed in the other. Two are after it. Yeah it ends on a cliffhanger sort of like a big thing. And then like two unrelated standalone episodes and they're very good standalone episodes. They're actually really fun. Like ones in reality one and one. And but it's just like why why I feel like very integral to him like an and it's actually it is built up in one of the other ones mixed in answer sleep. Well this I think for the most part of the two that are mixed in it be ruled a message in very well. But it's it's it's a weird thing and it's like they were already writing and I know they were already writing wake episode breaking season four before they got cancelled. Because like Fox's like you start doing this and then got cancelled and yeah loss was sticks to lurker. Says the all reality one was supposed to be season two? That makes so much sense. And I wasn't the ELA. There's an Alabama story when he isn't that what I'm saying. Yeah and that that was also an. It's built up in the other bonus jobs. Yeah Yeah Marcus says liver hiding little brand holding a little branchville trying to hide from Dan behind. The plant was great here here. Penney guys love the tank teeny budget. That was Super Fun. Do we have any other elements to this episode? That we wanted to touch on. I feel robbed of Trixie and candy scene because first of all how do you not have characters named Trixie and candy have seen together? Second I would just I just I just think it have been very charming and fun. So I demand a recount at this point. I feel like the fan. This point showed grandma had the theory. I don't know if you've heard this. That Ella is a grown-up trixie from the future. That's a theory they had listeners at home. Knowlton's took office headphones to walk away and Joe Henderson. Like he wrote a wrote this new page script pages like Alan Trixie meet and then they exploded because it's good. Superfund yeah alert says there were lots of various about Ella. Nba episode they give her as I mean. Maybe somebody guessed it. I don't think many people like had the same idea of WHO Ella was. The writers did and it's very clear for when you're watching like something like mystical magical or special reared about her. She is is very straightforward. But whenever there's a character that like gets added in in a show like this it feels like there must be there secretly actually in this totally did that and it paid off for a well with Nikki and Paulo yes. The best episode lost expose best episode of lost. Yes no actually give it is was once can suck that we didn't do a loss. Podcast Kate Toyota. It'd be like none of this works until he gets the Nikki. Follow of window on until that's suppose I would not go on. And we were talking about episode Jacksonville Cheers. We like the worse upsetting the best episode. And there we go well. I'm going to wrap up our conversation here. I guess what you think about the show. I really appreciated that. The end was kind of like having back in this episode and try to make us playing mediator to Lucifer khloe words. We're so yeah and they get it just. The show does a good job tracking their characters relationships and making adjustments feel earned and making you know having the consequences of their choices ring throughout the rest of the season like just continue to to impact. What's going on? Yeah super hiding behind a plant. Su As falling come on larger says lists for saved. Khloe so dan kind of cool. Yeah Yeah well that reservoir conversation about Liz for season two episode Fourteen Candy Morningstar. Tomorrow's episode is deceptive little parasite. Do you have any guesses on what that could be? Trixie shooting parasites. Is it a trixie episode? And she's that sounds like something that that would say found her ray like you know maybe. I know I have no idea. Biggest guests also marked. You like more like this is what it is. There's one thing that we didn't discuss. Which was the weird. Not Hong Kong Chinatown thing. What's in the briefcase? Did we find out? What's in the briefcase? Bring bring okay all right. I wasn't sure even happened. Yeah it was ridiculous. It was ridiculous diamond will because it was all yellow and stuff and that was very suitcase. Fictious variable for it's Very Godfather. Yeah that's the thing about this also Lucifer never lies in this episode. Like he married candy he no. He bought her. That ring it's It was legit wedding and they now have to get it happens. Yeah and it's very worth like. Oh no this is gonNa be worth it and I think you know the by based on his demeanor at the end. I think it was so fun and it was. We're going back tomorrow and I'm very excited to talk. About a little parasite letroy will be journey joining us either tomorrow. Friday Friday. I will definitely be on Friday. Okay well look conversation okay. And we'll be back tomorrow to talk about the central little parasite and until then thank you. Everyone for who who's been hanging out in zoom and today that is Kayla and lurk lurker and Marcus and SBN. Scotty you guys are fabulous. We always enjoy talking with you guys and thank you to my fellow. Wonderful Co Co Host by crime solving devil may accent stone or.
Once Impossible, Engineered Burgers Catch On
"Business wars daily is brought to you by papal when it comes to growing your business. You need a partner you can trust for today and tomorrow and pay pal processes over ten million payments per day. That's experience you can rely on. Visit pay pal dot com slash growth to set up a free business account today. From wondering, I'm David Brown. And this is business wars daily. Happy Monday, everyone if you're like me, you may be feeling like you indulge just a little too much over the holiday weekend. And that it's time to return to some healthy eating, maybe even give up meat. That's true. You're hardly alone. Consumers have been snapping up new kind of plant based burger that not only tastes like ground beef. It looks and bleeds like it. It hasn't been available everywhere. But that's about to change in the process, creating what could be a well bloody rough war between rivals backed by some of the biggest names in Silicon Valley. So far impossible foods are Redwood City California start up as made it's impossible burger available only in restaurants from fat burger to white castle. But next year it's coming to grocery stores. The company announced this month that'll put impossible foods head to head with beyond meat who's plant based burger was the first to be sold. And supermarkets not next to the veggie burgers. But in the meat section ten days after impossible foods announced it supermarket intentions rival beyond meat said, it's planning to go public with the one hundred million dollars at hopes to raise a company will expand into restaurants. So what are these things exactly they're not veggie, burgers, like Boca, burgers, and MorningStar farms patties, which have been on shelves for years, rather, they're engineered from plant proteins and intended to look smell and sizzle just like meet the products, which in beyond case also include fo-, sausage, and chicken strips are designed to tempt omnivores not just vegetarians founders of both companies see their missions is feeding a world with nine billion people without harming animals or worsening climate change impossible food CEO Pat Brown molecular biologist has an even greater ambition. He wants to end the use of all animals in food production by twenty thirty five. The broader mission has captured the attention of social investors like Bill Gates who's invested in both companies on a more prosaic level. These burgers might just help with those early December diets that is before the Christmas Turkey and ham Tempus all over again. From wondering this business worse daily? Hey while you grabbing a quick snack. Take a second. Give us a five star rating on apple podcast, Google podcasts. Stitcher or your favorite listening? Apogee? Thanks. I'm David Brown. Be back with you tomorrow. Business wars daily is brought to you by pay pal when Zeke was a kid spending summers on his grandfather's farm. He knew he wanted to be part of bringing wholesome food to people. He started his artisanal Honey company be raw by creating a network of dozens of beekeepers across the country. When he got his Honey into high in national stores, he thought he'd made it, but when he saw his margins decreasing due to distributor fees and seasonal production. Made it difficult to meet retail demands Lee decided to take his products primarily online from the get-go. He featured pay pow prominently on his site because he knew it gave his customers confidence that he was a legitimate business with quality products over the past five years. Pay palace helped him convert more clicks into sales and expand his business. He's grown every year and added new items like t candles and beauty products. So when you're ready to grow your online business pay pal can help you turn shoppers into buyers. Visit pay pal dot com slash growth to set up a business account. You can sign up for free today. That's pay pal dot com slash growth.
#153 - Kim Shannon - Ive Long Believed That The Market Reflects Human Nature As Much As It Does Underlying Fundamental Value
"Welcome to the med favor. Show where the focus is on helping you grow and preserve your wealth. Join us as we discussed the craft of investing and uncover new and profitable ideas. All to help you grow wealthier and wiser better investing starts here. Favors the co founder and chief investment officer at Cambria investment management industry regulations. He will not discuss any of cameras funds on this podcast. All opinions expressed by podcast, participants are solely their own opinions and do not reflect the opinion of Cambria investment management or it's affiliates. For more information, visit Cambria investments dot com. Welcome podcast listeners. We got a great show for you today. We're recording this day after tax day. So hopefully, all of you paid taxes in time or even got a big refund or even as I tweeted checked out my favorite resource for the Americans out there. Unclaimed dot org to see how much of the fifty billion sitting in state coffers could be claimed of yours we've found over a million for listeners. So our biggest fine this year. I think has been six grand. But if you find anything let me know shoot us an Email feedback in the favorite show dot com. Love to hear if you find anything anyway, everyone loves found money, particularly when the government's holding it. So today, our guest is the founder, president co CEO of Toronto base, Yona investment managers. She's got more than three decades of experience industry previously serving as the CIO Merrill Canada. She also serves a board member Canadian coalition for good governance. She's wanna gazillion awards including MorningStar fund manager of the year. Welcome the show, Kim, Shannon. Terrific. Thanks glad to be here game. I just missed you. I'm so sad. You're in Toronto. I was just Niagara on the lake beautiful. Little town hop down to buffalo for a couple of hours chat with CFA's society. Toronto is very high in my to do list. But before we get started. You told me before we started. How do you get the name of your firm? When you try and register names, they're all taking, and so you often have to go to a a foreign dictionary and turned out that the ONA stands for Shannon. But value, consistent, they were all unsellable and unpronounceable and Gaelic, but Shannon seem to flow. So well, my mom's side is scotch Irish. And I was just over in Dublin. And I think it's kinda northeastern Ireland where Mavin the name comes from which my full name, which we can trace back to a fellow that came over the boat and early eighteenth century. But when I was just over in Dublin, I ran into someone that looked exactly like me. We're just experience my life. I couldn't tell him. I don't want to be like, dude, we look exactly alike because it's either offensive or just kinda weird. But but anyway, so let's get started. So you started this firm. Why don't you tell us a little bit about your sort of framework and approach to investing, and we'll kind of get deeper and spread out from there? I'd long believed at the Marquette refer. Lex human nature as much of the does underlying fundamental value. And human beings have tendency to excess and other people like flaws, I would call it irrational Paschi human behavior that makes us so unbelievably and four castle and unpredictable. There's a passion out there. People would like the world to be nice need or Italy for castle, but because of this human element, it's not and I find far too many investors wish that the market could be more formulate, and I've always embraced the human element and use it in investing because I find far too many people don't, and that's one of the reasons why I'm very interested in market history. Because although the dynamics and the fundamentals do change as humans evolve and grow and businesses develop and change that the one. Constant is human emotions and market history. Illustrates to me how irrational human beings have interacted with financial market data in the past. And that long-term market cycles are quite lengthy in nature, and we enter a market at a moment in time in a position and it cycle, and we watch it play out and some of the early lessons in our early investment career may not be valuable for as leader in our investment career. For example, when I first started in the industry, I started in eighty three the big boogeyman that adjust past was inflation. And so all the course work in the CFA was focused on how to manage on investment portfolio, an inflationary environment. Well, we haven't seen that in thirty eight years. We may be oh boat to see it soon. But we're not there yet. And so you've gotta learn your lessons fast. And apply them in the right moments in time. And so I started working for a philosopher value investor who taught me how to invest using value investment style. And at first I thought he was a bit office rocker he claimed that stocks would all revert back to their mean, it was that simple. And when I was a science major when I asked for the proof of the pudding of his belief system. He didn't have one he just claimed that they did. And I would just have to watch it and indeed over two two and a half years, I witnessed he was much more of a cigar. But investor than I was in the ended up to be that these weird stocks that were super cheap and ugly. And in trouble started to floated drift up words reverted back to something more normal and only then I became a believer. I now know that Andrew Smithers is done some work showing that eighty percent of all stocks revert back to their mean. So my central core investment philosophy is the price you pay when you enter an investment has a significant impact on your long term results. If you buy cheaply giving some time, and if the risk factors are acceptable that stock will drift back up something to more normal for itself, if you'll pay for security, it's very painful over the fullness of time, it won't rise that much and you won't get much of a return, and it won't pay you for the risks that you're taking overall. So that's the core of my background in philosophy. So I combine a little bit of market history and the understanding and the explanation as to why individuals securities get miss priced. And why it's important to go in there and pick them up zoo talk about value. There's probably a million different flavors that different value. Investors would embrace, and it's pretty broad term talked a little bit about. Sort of your approach is it surely quantitative is totally discretionary what sort of inputs or part of the process and all that good stuff. I give you a good sense of the process. Keep in mind that most of our client money is in Canada. I grew up in the Canadian market place. So it's all junior miners and cannabis. Well, that could be an interesting rough ride for clients as a barbell approach, you know, you're diversifying. Did did very much effect the investments philosophy that we took on her in the early days because value managers are out there. Trying to buy the beaten up, cheap stocks and the cyclicals in particular. And if you were to do that you at own a lot of cyclicals at the bottom end of the cycle, and none at the very top of the cycle, and you could have a very divergent portfolio from the benchmark and have very different results. Now, I think in the long run even playing a deep deep value game. You will win the game of investing. It's just will your clients still trust and believe in you. When you have long dry spells about performance the whole philosophy behind value. Investing was invented in the US, which was the deepest broadest market in the world. And now all markets are idiots and critic, even the US market has a lot of huge waiting in its top three sectors. But Canada has more resources than most and is. A bit more cyclically orange hated than most. And so how do you take value when you have a market that from time to time several times in my career? In fact, the gold segment has been more than ten percent of our benchmark, and it's never been more than one percent in the US. And so if you miss those gold rallies it can be credibly painful in nineteen Ninety-three in Canada. The gold sector was up one hundred fifty percent mid-year ended year up one hundred percent. And if you weren't in it, it was very painful against the broad indexes. When it was ten percent of the benchmark. I developed a style which we called relative value investing, which was very pragmatic in the Canadian marketplace and created a a smoother ride for investors less volatile in its returns because by going relative value said will be in all sectors at all times. Plus or minus five percent sector wheats, but will make strong stock picks. Within each segment, and if gold was its own separate sector, we would be neutral most of the time in our gold waiting, and even if it wasn't absolute value, but we would own the cheapest names in the segment, and by definition by having the same weight, but in the name that had the most upside we would alternately win the game of investing, which is what we did in a very consistent basis and that allowed us to build a mutual fund that grew from forty million to the largest Canadian equity mutual fund in Canada because of that quality outperformance over long periods of times with a modest level of risk and not much amplitude against the market in our investment approach that we still use here at the owner today we start off quantitatively using models and downloading data and stocks to just scroll through the entire universes. Stocks identifying what? Is truly cheap. And then that allows us to do deep dives on more manageable size of companies making sure that they qualify from a risk of financial risk and operational risk, etc. Perspective and that the numbers alone being used in the model aren't being trip. And so there's a lot of looking at aggressive accounting practices and trying to make up for the fact if if there is making judgments and looking at the more conservative way of looking at the company and then coming up with portfolios stocks, and our traditional method was sitting in the thirty five names. We also run more concentrated portfolio at twenty five names with that method of investing in a team environment here, it's the owner any sort of particular factors that are part of the process that you guys really like are you school price? Earnings sort of shop, are there any factors that you guys really don't like and the part B to that question would be value in general as a factor has had a pretty tough run at least particularly in the US for this past decade where it's been driven by Lada. Growthy sort of names. So anyway, you can talk about both those sort of concepts would love to hear a little more about how you guys think about value factors and process. Yeah. I half of that question, which is what we wanna we most like when we're doing our fundamental now see us, really structure questionnaire template. We really believe that discipline helps you a lot in terms of learning lessons. So that it makes it easier to do pre and post mortems of the stocks that were buying and not make say mistakes over and over again and trying to those proverbial value traps that keep emerging from time to time we do publish with our clients. The characteristics that we're looking for. Yes, we wanna maintain classic value features. And so we looked to see that our PE multiple price to sales multiple price. The cash flow, multiples or all below the market, and then we'll look at. We're hoping that the dividend yield is higher. And and yes, the current environment has been fairly challenging for value attributes for lot of interesting reasons, and so some of them we haven't done as well on in the last several years in terms of matching them, but we also fall through on fundamental analysis. And also when you're at we're interested in a cyclical market like Canada from time to time you can own energy stock that is truly very cheap. But if it has microscopic earnings that gets explosively large PE, multiples, which really messes up the perception of what you're cheating, and your portfolio, you know, the stocks cheapest just as. Look that way. So the fundamental analysis really kind of protects us a bit. And and also helps us explain when we're being challenged on some of those characteristics. And we recently wrote on an insight piece about book value and how it's becoming a little less material throughout my career. It's become it used to be historically. When a the market went above one point seven five price to book value. It didn't stay there for very long now that tends to be more of the market averages. And so you have to be a bit adaptable and flexible, but we wrote a piece on is. It is still valid number. And we included we're not ready to throw it out with the bathwater yet, but it's a less helpful tool. These days than it has been in the past that doesn't mean it won't come back. I think your second question was an really interesting question as well, which is has the market in essence become more perfect or more efficient. And therefore has the value style lost its ability to out perform, and I have warm arcade experience in most players, and I I think that's a really important feature for an investment manager to actually have witnessed a number of market cycles. I've been involved in the CFA institute for many years when you look at the current age profile of active membership of CFA's societies Tronto society being my local one and one of the largest societies in the world the age population over the age of fifty five represents less than ten percent of the population base. And then as you look down the age profile, you realize there's a bunch of people that haven't even witnessed two thousand eight that are acted in the marketplace today, and then there's an even bigger number of people who haven't did not live through two thousand. And we are right now in one of the more lengthy periods of time where value has underperformed against the gross style. But if you pull up something like famine, French they won a Nobel prize and economics for the research. They've done their entire career on value versus growth and their studies continue to show that eighty six percent of the time value performs the growth style. And there are brief shining moments in time typically at the end of the cycle win growth outperforms value. And of course, what ends up happening at moments in time. Like, this is people start to wonder whether value no longer works. And I'm seeing more and more questioning about has the market become much more efficient. We're sitting in the camp that if you go back in history and look over and over again you. See a number of the factors that people are pointing out to say the markets become very efficient, and they happened before in the past like that have you had periods in time in the past where almost all active managers underperformed, a benchmark and obsolete. -ly you did you had that occur? Even back in the nifty fifty ehre, you didn't even have ETF or passive strategies. I mean, the first pacify and was nineteen seventy three. So they weren't in place to make that reason for why it happened. And yet you did have the market become inefficient. And then created another huge opportunity for value managers again, and again, and again since then so you've had people question whether value is done, and I suspect that it's not just has new dynamics and new with the new. New products to us that people think have really changed the dynamic of the market. But I think that the old norms will fall into place, and I think that we are in a very hyped market today, and you need to look no further than some of the valuations of of cannabis and technology stocks to suggest that yes growth may have gotten carried away with itself. Once again, there will be another opportunity for value to to show, it might that investors to be patient. That's what creates opportunity, right? These sort of behavioral cycles we look around. They do these annual surveys each year. Schroeder's does want us his well, some others answer's always say they interviewed twenty thousand people around the world. They almost always say they expect future returns at ten percent. But the millennials are always much higher. And the reason being of course, because most millennials haven't lived through any bear market, particularly in the. US, obviously, if they're living in Brazil or Russia, Greece they have but having lived through it in the US. And so certainly studying history. I think is the single best thing that people can do to get a little more expectations in line. You guys had a great quote from a paper y'all wrote in two thousand eighteen called it's more cyclical than secular, we said, despite technological advances. The humanness of markets is continually created exploit -able inefficiencies expanding time risings often illustrate what looks like a permanent secular trend. The short run proves to be cyclical nature in the long run and looking at value and thinking about it one of the examples we often give is simply following Warren Buffett's picks, and there's been some great pavers for make you and others that can kind of decompose his process into a factor based approach and talk about hey, look, he does value and quality. Like, we all know that. Right. It's not that complicated. But we often say his alpha is a lot of it has to do with sticking to that approach and not getting sucked into. To the fads of the day, which is so easy, and certainly seductive to talk just a little bit about as you look around the world. What does it look like are you finding value anywhere? Is there any specific geographies or regions or sectors or anything else that you think looks appealing or equal is important areas that people should certainly shy away from I should reiterate that we are still largely Canadian focused manager overall. And that's where most of our client money is even though we've been tip toeing out into the rest of the world. So I'm always happy to get on a soapbox and defend the Canadian marketplace we represent usually about two or three percent of Ascii all world. Benchmark. We're often getting pundits coming in. And and suggesting that investors should invest globally, which I absolutely believe in but accusing investors in Canada having a home country bias, so I'm often defending the might of Canada. I didn't highlighting that Canada. When you compare it to the US, which is a big market that is huge segment of the global benchmark today. Well through sixty percent of the waiting is has become an expensive market overall, and is certainly more expensive than the Canadian market. And when you look at it against the Schiller, P E multiple, and and you look at the numbers standard deviations away from norm. It's valuation is compared to Canada you come at it multiple ways. It looks like Canada and the next one three five years should get up to five even ten percent better return than the U S based on. It. She prevail Yuetian and I've often seen people criticize Canada. There's that assumption that because we're so resource in sickly orientated that by definition, we must be a riskier Ma. Market in a lower returning market. And I'm really enjoying that fabulous book out there. These days called Faulk fullness by Hans Roslyn, and and in the book, it says we humans. Get tripped up by these ten instincts, and our impressions about what's going on in the world and our short cut thinking often guests it wrong, and that we really should test our instincts against facts. And that's why the book is called fact, fullness, so the facts on Canada, and I really appreciate it when dimsum Martian Staunton took their study of multiple markets and multiple regions back hundred fifteen years in two thousand seventeen and they had Canada's of Megyn into compare the long-term hundred fifteen year Canadian results against other major regions and markets of the world that are overall. Returns were second or third best in the gym metric or heiress medic calculations whichever one you preferred that the standard deviation was amongst the lowest in the world. So that Canada is very interesting market. It doesn't deserve to be underweighted in benchmarks. And at this moment in time it's relatively cheaper than a market. That's getting a very hefty waiting and for those people who aren't as familiar with Canada. We are the US's largest trading partner, and they are our largest trading partner. Now, we aren't quite as big as significant for them as they are for us. But they still represent roughly seventy five percent of our trade. And in Canada, we've long had this seeing that when the US news is Canada catches a cold. So the US is doing well we do. Well, if the US does poorly, we do poorly is. And if you do correlation coefficient between Canada's GDP, and the US GDP we rhyme because of that tree connection between the two of us. I think Canada's not about place to invest in inside Canada. There's some sectors that I think represent pretty decent value and individual security, always go out there and shoot themselves in the foot. We think that the energy sector has been beaten up, and we have had dramatic improvement in the WTI spread of energy and that hasn't really been reflected in stock prices. So we think that there's value in some of the quality names in in energy and candidates today in particular in the pipelines, which had been massively overpriced probably because of the chasing of yield now with some people, you know, having differing views. On rates and the the building pipelines, the valuation of the pipelines and Canada have been beaten up, and we think they'd been beaten up to a level where they become quite attractive to contemplate in this marketplace, those couple of areas that we're finding as industry or segments as interesting beyond individual stock is interesting, you talk a little bit about this earlier, and there's traces of it in this recent comments, where when I was in aggress chatting with some local Canadians, and the challenge of being an adviser in these were wealth managers brought up the point that you mentioned which is Canada's percentage of the global benchmark is pretty low relative to the total, but most Canadians and most wealth manager would have a much bigger chunk and the risk being that it's a fine balance between what may be an ideal portfolio on what may be portfolio that the person can stick with because. Because as a wealth manager, they would laugh and say, we'll look MAB. If gold is up fifty percent next year, and we don't own any. They're like I'm gone because every other person Agana own some gold in my client doesn't. So it's always funny to listen to the real world implementation versus a lot of the ivory tower because it's easy to talk about portfolios in what certain people think might be the best way to construct one versus what's actually workable in the real world people overlook home-country advantage because when you invest in your own domestic market, you get certain tax advantages, and you get good asset-liability matching because ultimately, you know, most people in their own economy. I'm gonna put this rather crudely we'll live in die in their own economy. Unless your client is telling you, I plan to move to act and spend my retirement years there. They're getting good asset-liability mashing by staying somewhat waded into your domestic market, plus your fees within your domestic you pay more for global managers, you pay more for your trustee costs at here, if you're investing outside of the country, and you don't have to do any currency edging, and those factors I think often get overlooked in the rush to diversify into the exciting new categories. And and yes, although retail investors buying large do have reasonably good exposure to Canada. We're finding that institutionally. You're seeing that the weeding domestic equities owned the world is falling to ten percent or less of overall portfolios. And it's a new experiment that we're all playing with here. And I've always found that one of the greed tests. Of time of loss. If he or a belief system out there is tighter, shrink the idea or expand the idea and see if it still holds water. So in terms of like, what is an ideal asset mix globally for investors? There's no perfect model for asset mix early in my career. There was a great study that come out and said forget security selection, if you can get asset mix, right? Oh my goodness. That's where the money is. So you should be out there just making very wise asset mix decisions stocks bonds within each one making some acid mixed decisions and cash is people ran out. And there was a lot of new funds called the star asset mix funds. Lot of money poured into tactical LASSO -cation funds way back, you know, twenty five thirty years ago and. Most of them went down in flames because it's terrifically difficult to tactical that allocation consistently well, and so if you're out there with making aggressive bets you can often get in trouble. And so one of the best test for is this skill. That's doable. In the marketplace is to say who has gathered a lot of assets and become world famous for doing asset mix super-duper. Well, we know that Warren Buffett is fabulous good at private equity. We know Bill Gross was that. I'm amazingly good at bonds. And he'd been look at those people and say that's a skill. But who did it neces- mix, and I've been asking audiences of this for many many years. And so who's out there will the biggest I can find people agree with me would be GMO, and I believe at their peak. They got two hundred hundred billion which is really fabulous. But pales in comparison to a lot of other categories, and you know, they ebbed in their flooded. And so they had a very disciplined throats towards asset mix so most people wanna shy away from doing a tactical that mix, and so what they do is the easy way to play that game is to follow up benchmark and the Ascii all world benchmark or MCI world benchmark is a common one for people to go to and it's based on market up waiting and medic cap waiting has its benefits from liquidity perspective, but it doesn't necessarily spend the test of reality. For example, the US has a very large waiting in that benchmark another way to look at the world or slice and dice. It would be GDP where US would be only twenty five percent of it ends Mark like that. And and China would be much larger and the right? Now, if you were to use as most people now, I thought quote today that said something like seventy percent of all investors, use a benchmark to week there sector weeds, and then do little drips around it. Well, right now that benchmark the all world benchmark is saying give sixty to seventy percent of global wealth to the United States and the next largest country is about eight and a half nine percent. So you're telling all domestic investors all around the world to keep ten percent or less domestically and ninety percent of your hard earned wealth within your own Connie to the rest of the world. And to me that means that we will alternate -ly kill the financial services sector, which is one of the top three sectors every functioning economy 'cause it to shrink down over time. And so I think that if we take. Take that notion of market cap weighted benchmarks as though way to go for weeding of portfolios. And it captures a lot of intention unintended concept. Bill could be a lot of interesting on intended consequences emerging is injuring talking about market kept waiting because it's the default for almost every investor, and if you actually include closet indexing, which is the active people that despite the claims of activity end up just pegging the index because of constraints or they're just so big that they can't do anything else. We've heard estimates that you're up around seventy eighty percent of funds. Investors are doing market cap weighting in we often say there's almost any investment approach should beat market cap weighting over time because of that not having another to fundamentals or value. And a lot of investors are particularly individuals aren't aware of that fact in. The our favorite example is a fellow student of history. I'm sure you remember, but certainly Japan in the eighties when they got to be the biggest stock market in the world, but trading for a long-term ratio of almost a hundred and I was just over in Japan. Chatting with some locals and buying hold is not even a concept there. They say why would we buy an old stocks? They've gone nowhere for thirty years. And it's not some tiny economy. It's number. I think still number three in the world so market cap weighting is while it may be the market is certainly an odd choice for portfolio as well. As decidedly sub optimal way to invest Kerman a-. And yet, I find it fascinating. And welcoming that number of investors today are finding concentrated portfolios on interesting notion, and as a counterpoint, or in addition to if people choose to use passive strategies, so people are taking that notion, you know. Going one step further and saying, well, I won't get market exposure through a passive strategy. But when I go active, I would really like to go very active with an active strategy, and I find that very interesting and healthy development. Those investors so far have been reasonably sophisticated investors who are being sophisticated are willing to live with the the ups and downs of being in a style like that because it will verge in performance against the benchmark. So you have to give it more time to prove its ability and big client it themselves have to build an iron stomach of of ability to stick with a strategy and the manager of the construct were full is one hundred percent agree with you is that often will will hear people say that they can handle concentrated portfolio than you actually look at how weird it may be how different in just how. Concentrated it needs to be to actually make a difference. You start to get into that uncomfortable. And the challenge of so many investors as they like being warm and fuzzy by not being too different from the crowd, particularly when the crowd is romping in stomping like where I sit in the US for the past ten years in the equity market, outperforming everything. And so it's always a fine balance between we're awfully concentrated in weird here, but tween finding bounce doing that. And and surviving the cycles you've got some boots on the ground in Canada. We've had some prior guests and commentators that express some concern about the Canadian housing market. Do you have any thoughts on that topic? Our government has incrementally tightness crews on me market for a while. Now finally seem to have been able to tamp it down one of the fairly interesting factors in our market, and we had a world market pricing for housing that was probably below the rest of. The world. And then now has risen and we have certain markets like Toronto and Vancouver which are very expensive. Global priced real estate markets nowadays, you have to look at the edge of investing and then coober in particular in Toronto more. So of late has been worn investors coming in and buying up the market not necessarily living here, and I know Vancouver suffering from the fact that the average income earner in Cougars being priced out of the valuation of the local market. So we've had global money looking for home and choosing to invest in Canadian real estate. So there is pockets of overvaluation this market, and the government definitely is much harder to get mortgages. And so. We're now seeing some rolling over the market today. So that creates some concern about the banking system. Ultimately, healing some credit losses. And there is some expectation that that may occur, and we also have a banking system that went through eight fairly well, and yet we have opt a lot of capital requirements even still in Canada. And so we have banks in fairly good shape to whether what I think will be a cyclical storm here in Canada that media merging now slowly. But surely, but historically, the average Canadian consumer has had a higher percent of equity already in their homes and so less likely to walk away in Canada. We we have really strict bankruptcy laws. So it's typically not an option that people wanna take. Take because merging from bankruptcy takes a very long time to build a decent credit history as well. And I think culturally Canadians historically, had been fairly dented Vercel, though, that seems to the younger generations really seems to have changed, but we still have good employment in Canada. So we have the ability to still make payments. So the debt burden is manageable. At this point in time. There is some concern. If there was a dramatic reason rates that could be problematic for payments. But at the moment inflation looks quite more bunt and not an issue. So we might be able to drift down cautiously here. So yes, that's a concern. That's been wing on our markets overall and also too we should suggest that we never had any right off of mortgage debt in Canada. So that benefit never existed. And that's why home quickey has been higher where people were definitely incented to pay off their debt and stay that free because there was no advantage in nothing an interest payment at all is interesting from LA perspective. And I know it's not the whole country here in the US. But I saw chart that our friend Morgan posts on Twitter looking at the old Schiller real housing price index net of inflation in. It's crazy. It's like for most of the century. You have kinda low real returns. And then you had the huge runup to oh seven and then the big crash, but it's kind of run right back up here in the US part of that. I'm sure has a lot to to with the low interest rates like you mentioned, and I have a partner who is pushing me aggressively that wants to be a homeowner. And I said I said sure that would be a homeowner. Let's move to Kansas or Colorado or somewhere because it's the nana's here. Ask hand. Full of other shorter questions, but you can answer them long. If you want either way get near the end, the beginning your head, no Maha going to Berkshire next month. I also hear you're holding a little event there wanna tell us about it would love to women got together. And we're calling our conference vary perspectives, and it's Friday afternoon for those of you who will be in Omaha me third and there had been on France for a women investor value investors, two years ago didn't exist last year. And we said we're gonna make what happened this year were Billy pulling it together we've got a room that's at the Hilton downtown Omaha from three to six and our goal. Here is to help and support increasing assets under female management to two point five percent by two thousand twenty and what is happening out. There is about three percent of US investment firms are owned by women. In these firms only control one point three percent of assets under management. Studies are showing that of all the professional service industries in the world that asset management has been the least open to women participating and my firm Sione up here in Canada's a rare exception. We are eight UM is under five billion now. And we're the largest woman headed asset management firm by a UN and Canada, and we have half of our investment team or win. The most senior women in our team are women the executive team is three-quarters women. So we know that there's no reason why there aren't more women in the industry women are capable of cheating. Studies. They're showing women managers are able to perform and so we're having a number of pals of. Women who've just recently founded firms or women who run firms for a while. Now talking about the opportunities as a woman in the industry and some of the challenges and how they could around them. And then we're talking allocators and their issues and are they looking for women, and what are their issues in finding women to promote or put into their their funds and as well as as a call to action, and what is the call to action. What's the path because this is something we've actually mentioned a few times on the podcast, and it's certainly been my experience as well. I mean, almost every talk that I give if I look at even Twitter or podcast analytics, it's so outrageously one-sided. It's not like it's sixty four or even seventy thirty. It's like you mentioned it's like ninety five five what changes like what's the path? How does this evolve? Into a world where there is more female representation. I'm actually quite encouraged the last two years, we're hearing more and more people really questioning why is this? Why is there a difference? And there's more forms and discussions occurring where people are questioning. And so how do we get this to happen? It partly just asking pensioners themselves to go to their pension funds and say, do you have women working or are you hiring women managers? And why not and do you think that's correct? And it's it's about the bottom up asking for it. But I also think that there is people sitting back and saying, yeah, it doesn't make a lot of sense. What are we going to do proactively, and I've passed at conferences two and number of other women as well or sitting on panels in front of our peers being us. How can we encourage? Or how can we bring more women into our nation's and develop them in grow them. And we're sharing ideas about how to do that. But I think far too many people have been using the excusive saying, well, we have difficulty hiring experienced women. And I think the real issue is are you growing your own talent? Are you hiring right out of school? Are you making an opportunity for women at that level? And I think there hasn't been enough encouragement of it at that level. And so women tend not to see themselves as being able to be successful and are choosing to go. Elsewhere. I think the industry's ready for a change. And so we're put helping push it from behind that keep moving in the right direction because it's possible. And and also to support the women that are already out there. And there's you know, there's more and more women headed firm. Comes out there looking to grow their AM. And they've got a great track record. It's a frustration. So listeners if you find yourself Omaha go say hi to Kim. I'm fifty fifty this year. I don't know I've been in the past. And honestly these to warn and Charlie they're getting up there in age. I don't know how many more there's going to be. So you should if you haven't been highly encourage it. The best part is probably not even the actual presentations but walking around town chatting with fellow fund managers and investors and getting to see a lot of crazy questions. People ask at the sessions. Speaking of value investors, who have been kind of some of the investors that have most influenced your career and way of thinking you mentioned, the it's actually my favorite investing book trying for the optimist by the Denison Marston crew. Any other investors, I read them all I may huge fan and not going to conferences for years, and and followed people like I really love Peter l Bernstein. Proportionately he is passed away and used to work closely with Robert or not who I continued to love all his work and his reading a real thought leader in the industry. There was a number of Canadians than I I quite admired, Peter Kandal. I was quite privileged to me to Templeton was Canadian and started his roots up here and in Canada before moving down to Bermuda. There's so many good people. I I run value quotes every day out of our shop. We offer it up to counterbalance all the the growthy news reports that we read and and we're using quotes from all over the place of investment greats to help keep the street in narrow of value thinking alive because at moments in time and market like this. It's easy to values. So you kinda need to jolt yourself together. By talking reading, the investment greats over and over again. It's funny. You mention that because we had one of meds. Ten terrible ideas. We had a bunch of websites we'd launched in the past that for us at known. No, we got we got a focus on our asset management is I can't have all these things distract me. But we'd said it'd be nice if there was an investing quotes related website, and we built one, and I can't even remember the name of it at this point said quoting Alpher, something like that. I ought to look it up. See vying find put that's quite because there's so many that are just Societa wonderful one or two more questions. And then I promise we'll let you go. Anything? You're thinking about today. It's twenty nineteen which is crazy. Think about any research any ideas that have you guys particularly excited or concerned people. Read this article written at Berkeley university called unicorns. Cheshire cats and new dilemmas of entrepreneurial fog ants. And I think companion to this as well would be the book the myth of capitalism. Monopolies in the death of competition by Tepper and Hearn. I'm very fascinated by how with quantitative easing this slut of easy money going into private equity that we've supported these winner-take-all business models where firms like Uber, and lift have been around up to ten years have never made a profit are coming public are stating in their perspective that they have no idea when they will make money continue to lose a lot of money. And yet the world is willing to pay phenomenal valuations for them justified by the belief system that eventually when they come monopolies they can get excess returns to make up for the ten plus years of not making any money and then make him. Return to future investors. And that whole just that belief is a really we've put a lot of money behind an experiment. That hasn't been proven historically affirmed didn't make money for three four five years. People would abandon it. And yet, we're allowing all kinds of businesses to survive to me, this is incredibly reminiscent of two thousand and this whole enthusiasm over monopolistic profits and even go back to Adam Smith, he rallied against monopoly profits, and that it's not a social good and that governments will and should regulate against it. And so I think that this is an interesting topic and article that I think if people haven't been on it already it's not getting mainstream media, but it's out. There is a really interesting story to examine today. There's a lot of kind of rhyming with the late nineties, one of the things you mentioned if you look at the percentage of PEOs that are unprofitable it's back up to you haven't seen this really in the US since the late nineties, and there's a number of other metrics thing is chart you guys may have posted. But about looking at some the indices and valuations on some of the debt part of the market. But, but you know, that's that's what's been working for a lot of people is chasing a lot of these growthy names for sure but the risky. They always. Are. They always are question. We've asked all the guests. You look back in your career of the many thousands of probably investments you've made professionally personally all this things any stand out as the most memorable. Well, you know couple of kidney APO's that. And I tend not to be good involvements that ended up being like phenomenal home runs and C N real was one of them and the privatization of Canadian life companies. But I would love to tell the story about my single best investment. Which is I bought the book margin of safety, and you know, about thirty dollars and Canada. And now it's arguably worth two thousand dollars in about two thousand and Warner to Iran to a conference and got it signed by the author and pulled it out and said, you know, I told him I stripes as an investor and I take a fun from forty million the largest equity mutual fund Canada. But I was shameful that my best investment in life was probably. And then I hold it in my purse his book, and he was gracious enough to find it for me. It is kinda funny that ends up. Being probably percentage wise one of mile time all-star invest, I love it talking about Seth Carman's book listeners, and you know, it's funny in my early twenties out of college made even been in college. So the precursor to Amazon book marketplaces, but they used to be website called half dot com, which I think I'd acquired by EBay, but it was really the used book. Marketplace very inefficient at the time. And there was a little corner of the world where in we've more than paid them back in spades. Because we pay them a lot of money as institutional research subscribers, but Ned Davis had put out a handful of books that for some reason, they just didn't do a large printing, and they went out of print and to the books are to my favorite investing book. Still one was Tim Hayes is research driven investment in the other was neds. I wanna call it being right or making money, but these fantastic books, and they did a limit circulation. So I just scooped up a bunch of them put would resell them. On half dot com for seven hundred dollars for someone in their twenties. That may as well be a hundred thousand dollars being able to get seven hundred dollars is like rent money. And so I used to joke with those guys when I try to them years later. I'm like you guys put me through my twenties by choosing to a limited res. So I've never got a copy assess book, but everytime, I go to an old school bookstore. They have a investing section. I definitely take a peek to see if they have any. It's like like those people that do the dusty bottles and the old liquor stores. They look in the back and they find the liquor bottles. That are worth a lot. Right. All right. Well, don't sell it. Just keep it now smart conference afterwards because people wanted to the buck. That's funny. Well, if you're an unscrupulous person, you can certainly find PDF online, it's fun to read and Seth there's one of our favorite managers. We profiled in our book invest with the house where looking at his holdings because they always are a bit unique and different as far as the manager proud Cam. It's been a blast where can people? Find more information about you. They wanna fall. Oh, you're writing your up to what all it's going on. Where do they go running is on our website, Yuna dot CA just sign up and in Canada? We make you sign up before we will send you our emails, but you can access a bunch of articles right off our website awesome. Thanks so much for joining us today care. Thanks listeners will post a bunch of the show notes that can mentioned today on favor dot com slash podcast. You can always leave us review. We're almost at five hundred love to to hear what you guys send us feedback at feedback that the Mets favor show dot com. Thanks for listening, friends and good investing.
Lucifer Or Not Lucifer What Is The Context??
"Fijian's chapter four verse twenty five therefore laying sod falsehood. Speak true each one of you with his name worked worked for we are members of one another poise namesake described. Dr Jabbar. Busy apologised. comports disturbed creche borough from the doctor. Welcome back everybody to scrape truth podcast. I'm your host Jamal. Banney the one who seeks to distribute the truth that doctor prescribes to the church in the World Today Day. Also a part of the Christian podcast community. If you like the contact me you can do so by emailing me prescribed truth at GMO DOT COM or call calling me at eight zero one. Nine eight zero sixty three thirty three. If you like to support this ministry financially you can please do so by joining me on patron trend for only a dollar or more month you can join other patriots in helping support. This podcast gets driven to get distributed across house various platforms and also the website that we have everything else disappointed by patrons so I greatly appreciate that I like to take the time. Also you too thank the listeners. To the PODCAST. Thank you so much for taking time out of your busy schedules to hear what I have to say. Because in these various topics that Discuss I thank you for the download and everything else. Just thank you so much. You guys are awesome. I can't thank you enough please. If you think about it just Li reviewed let me know what you guys think about the The content of the show things areas where I can improve and so on and so forth and so with that being said this week given that this is weak is Thanksgiving Week I wanted to keep this short and sweet for you guys and so this episode dealing with a topic Dhabi one discuss for. Wow how And I know I'm not the only one who's come across this information but I wanted to share with you guys my thoughts on this subject and the subject is As you see them as you see in the title is dealing with Lucifer the title is Lucifer are not Lucifer. And the reason why I want to bring that up is this is a common name given to Satan and I get though I can understand the reason why people call Satan Lucifer. It is false it is false. Satan's name is it Lucifer. That's why when they came out with a TV show Lucifer. I wasn't bothered at all the ignorance of those in Hollywood. Just don't get it knowing. So they painted out this died to be Lucifer who's nice looking and everything and represent Satan all right so it's just a ignorance of Hollywood but not just Hollywood. There are some. Christians is true believing Christians who love the Lord. Who have this misunderstanding? And I want to look to the verse by which we get Lucifer and do a simple context deconstruction of of that verse surrounding it and then Guess implications as to why important we refrain from referring to say in as Lucifer all right so now the contests Harte's comes from Isaiah Fourteen twelve as they are fourteen twelve and the issue here. Is that the reason why we have Lucifer in the taste. And it's only president in the King James Version. And because the King James Translators they used a Latin rendering of the Hebrew were for morning star and so therefore it res Lucifer versus the Hebrew Word Hallal. I've are even pronounced correctly so recovery this verse for you guys. Isaiah fourteen twelve. How Art Thou fallen from Heaven O Lucifer Son of the morning? How Art Thou cut down to the ground which this wake weaken the nations are so this? This prophecy prophecy is dealing with a king. A king and a wicked king at that Most believe that this king referring to is never CANESSA. You're seeing as he was brought low being to the point that WHO's eating grass and everything else. If you look at the Daniel and look at the story in Daniel Dan you you'll see the connection there but even if we take out the fact that we got an idea who the king is this furniture. Let's look at the problems. Atoms in thinking that this is referring to Satan. Most people would think to say because it says how art thou fallen from Heaven knowing that Satan was cast down out of heaven. I mean it's a true fact Satan in this angels and third angels who follow him were cast cast out of heaven and so this references how art thou fallen from Heaven and says Oh Lucifer giving a name and saying that also is the person that's the son of the morning how cut down to the ground which this weaken the nations and so I can understand why someone would believe this is speaking of saying but there stands to be some problems here now as people also know prophecy Z.. Can Dylan to fourth in have to fulfillment or more than one fulfilment. I should say the problem. Is We believe this is dealing with saying this because Satan being cast down out of heaven wasn't a future at this point. It was something that already happened so then I already took place at the garden before the garden. You you know so to say that here is no Isaiah Prophesying Concern Satan is saying is if Satan had not yet been cast down and that is not the case. This whole chapter in their fourteen is guys speaking prophetically to a particular people people all right. I'm not GonNa Start always in the first verse but let's look implications as to This is as to why this is not dealing with Satan so start of our standard says all they all they shall speak essay into the art thou also become week as we are become like unto us they pump die pomp is brought down to the grave and the noise of dive voles vials. The worm for is spread under the and the worms cover the then verse twelve lease how Art Thou fallen from heaven o Lucifer son of the morning. How are thou cut down to the ground which this weakened the nation's for Dow has set in Don Heart? I will ascend into heaven. I will exalt my throne above the stars stars of God. I was also upon the Mount of the congregation in the size of the north. Now look at this verse verse. Thirteen I will. He has said on harp. I will ascend into heaven. Well Satan was already in heaven. He's already in heavy. He was cast down so that we don't need to say I will ascend into heaven. He already were. It says I will exalt my throne above the stars of God now. Some people may look at this as me speaking of Anton well he was cast down and now he said that that now he's going to go back up but see the problem. Here is the context in verse. Twelve says there are falling from heaven and and then in verse thirteen says four Dow has set down heart so the reason why this person was cast down because they said in a heart I will send it to heaven. I was out my thrown over the stars Guide and I was sit also on the Mount of the congregation while saying was already cast down four trying to for trying to take over for trying to war against God and his angels. That already happened happened so this isn't the reason this isn't a reason. Why for a future event? This is how this is. I'm sorry this is something that has already taken place all right in history but this is this prophecies of this talk muscle the of a future event all right so as I said in a heart I will send it to heaven. Having I will exalt my throne above the stars of God. I was also upon them out of the congregation in the size of the North Aisle ascend upon the heights of the clouds. I will be like the most high yet. Thou shalt be brought down to hell to the size of the pit now reading the King James version also once again. I can see why someone would like to say because it says you shall be brought down to hail to the size of the pit but we have to remember. Is that the King James version. When it renders the word Hell it gives us hail as English translation the underlying Hebrew and Greek words not always with hail the actual word there for Hale is actually actually? She'll and she'll base the place of the dead or Hades in Greek aren't so this isn't that isn't hail Hell in the New Testament or hell as we would know what as far as eternal like a fire punishment is rendered Gehenna. That'd be the word used in the Greek and I think does word he wrote us. a link to that will be as that was a place in In assessment where people would burn their trash and burn all the debris kind of like a dumping ground and it will and he was always burning and it it was called Gehenna all right so something keep in mind there were here is actually. She'll as a place of the dead grave all right so So yeah so. That's that should clear. Some confusion in Verse Sixteen They they see. The show narrowly look upon the and considered the saying. Is this the man that made the earth to tremble that dish shake kingdoms so here we see this people going to look at this individuals. Say Is this the man who did these things prior to being cast down all right. That's the point we gotta look at. The context is showing that this is something that's going to happen later. And that people are GonNa look this individual who is brought low for wanting to Exalt Szott himself and then people are GonNa look at them and say is this the man all right now that will fit nezar definitely fit. Never concern has a and what happened to him he built his head is GonNa Statue of himself wanted people to worship the statue of himself he wanted to exalt his throne throne above. God He wanted to be like the most high so he was a fulfillment of that him being brought lows fulfillment of that on which was spoken by Zahra. You know saying so this is all this is context guys context now real quick. I want to take this moment it to listen to a couple commercials from the Christian podcast community. Are you just watching. Do you enjoy watching movies. The special effects the interesting characters the great stories. There's a lot to enjoy. That comes out of Hollywood. But sometimes it's best to approach secular media with a healthy. He does of critical thinking. Join me Franklin and Tim Martin as we discuss our favorite movies and share critical thinking for the entertain Christian. So these are you just watching dot com to subscribe. And don't just watch Tom Darrow. Here's my wife. Karen hosted awesome. What are we doing here podcasts? The podcast that seeks the answer the question that we all asked. What are we even doing here? We cover topics such as marriage family life in Christian life in this crazy world. We don't have all the answers but we know where to look. Subscribe to us on Itunes following on soundcloud as we seek the Kingdom of God and find find out what we are even doing here. Welcome back. Everybody aren't now. The the reason why this became a topic for me is that interests me is because a wild bag that I was with either. He was either an agnostic or atheist as I can remember honestly But he tried to tell me that it was a contradiction in scripture that in the Bible Jesus is also called Lucifer and I was like what. You've gotta be kidding me. Give me scripture verse please. And so he took me or he sent me revelation the book revelation and it was revelation. Twenty two verse sixteen and is Jesus Speaking being in revelation. Twenty two sixteen and I Jesus have sit mine angel to testify until you these things in the churches. Yes I am the root and the offspring of David and the bright and Morning Star now at this point guys when I encountered this individual I to believe that Lucifer was the other name of Satan. I believe that Lucifer was his name. Prior to being cast down and his name became Satan. That's something that was taught me long ago and I never kinda never reconciled because it never came up but this was an instance where it was brought to my attention so a push me to study all right and so when as I studied and I went back to Isaiah fourteen twelve and studied what Descriptions are saying Lucifer for does mean Morningstar so it seemed to be that the atheist agnostic had a point that Jesus is called Lucifer. Like if you were Oh speaking. If you speaking in Latin calling him the morning star Lucifer being called the morning star so it may say the logic fit but was Jesus being called Satan or like the same person saying no. We know that was false. Yes I knew that was false. Even drawing the connections that I did with Lucifer I knew that accusation hat to be false but there has has to be explanation to to to get rid of the confusion concerning Jesus being called the Morning Star and Lucifer Meaning Morning Star so as as I began to read Isaiah. And just like I do it with you guys here beginning to see the context that this this was actually dealing with a fallen angel. It wasn't this contest dealing with a person who was given a nickname Lucifer being the nickname old lucifer son of the morning. Oh morning joining star. How Art Thou cut down to the ground? Speaking of someone who wants to exalt themselves. This isn't this was a term trying to WHO Endear the person this isn't God saying Oh you're such a bright person. That's such a wonderful individual late late. No this is this is actually mocking to the person. Because they've fallen down and they wanted to exalt themselves but a call them the morning star son of the morning gene and then talk about how they're being cut down so this wasn't the same thing but Jesus he uses of himself to say that he is bright and morning star he is sovereign he supreme so he's not fallen in revelation. Twenty two sixteen all right so now I have this book. I mentioned on my Youtube Channel Charts of Christian Theology and doctrine by h Wayne House which is very very helpful source. Our I do recommend that people. Purchase this paperback book. I mean it is also if you WANNA get into doctrine and seeing what people will leave the arguments for and other kinds of is really good so they have a page in here just for the names say and I turned to it. I just WANNA see if it Mr House agreed with my take on these things and though it doesn't say that he agrees with me he has a list of the names of say and the names of say. Hey in are as follows say in Devil Evil One great red dragon serpent of old Abadan. apollon adversary be eligible. Bellio God of this world ruler of this world prince of the power of the air enemy temperature murderer liar accuser and he gives scripture references for all these citations of where say it's referred to by these titles but not one of them is Lucifer. It's always seemed to me that I'm not the only one who understands that say that Lucifer was never a name for Satan. Never was a case all right and so if we was to say that Lucifer is Satan will also have to say that Jesus calls himself Lucifer in the in revelation. If he was speaking it was beginning. Latin once again remember speaking in Latin because Lucifer rented a Hebrew is hollow. And that's what that's what would be in the Hebrew for Morningstar star all right. So yeah so how we got to ask ourselves context. I mean if you disagree with this you know what is the context. What would be your a pushback on to this discussion if you have any at all or maybe you haven't thought about this at all? Or maybe he just don't think he's big deal to deal with honestly. I don't think this is one of the things that's going to send people to hell. If they believe that Lucifer was wants to name was say in. But just like all things guys truth matters. You know and we're studying scripture upturn. We're dealing with scripture truth matters and so that's what I seek to do them for scrap truth is to diagnose errors and then to distribute the the truth and the prescribes. So that's what I seek to do and so I hope that this has been helpful for you to do further study just like your help me back then and remember number in a world full of errors. The only thing doctor prescribes is truth. Always in his context blessings.
Streaming In Place: Lucifer S03E06
"To the television streaming pullover buddy and welcome back to streaming and place. We are getting towards the end of week eight here. Sorry sitting in a moment fifty-eight days for me like it's been fifty eight days for me. Yeah well because like we fifty nine is one thing and then I remember that. We started a week after laying off like more than a week. After I started quarantining I went of his telling Knoll off Mike of you today. I went for like a half hour. Walk the other day and it was the longest I have been outside since going into quarantine and like outside of like driving in my car to drop off. Masks of your place. Allison's like the walk from my car to your place is the second longest been outside and I got the mail that so like yeah anyway sorry. That's a different conversation. We talk about this episode where people drive a really long distance to go to a city where people are just clustered together really closely. Look really has yeah. This is this is Vegas with some radish which is of course list for season three episode six. Oh Keane says going outside is weird now and then they all get together and they touch each other and yes yes l. Just hugging everyone. She's like no no. I'll get anyone gotta socially Distance Ella. Keane says they should yeah. Yeah very much. So wellness again. I always enjoy trying to get better and poker face but I always enjoy having you guys. Guess what the next episode is going to be. Because then I get to have moments like the text out from Alison Last night so so. Alison congratulations yet. Another called it. Thank you thank you I'd like to thank my years of watching television. it's good to know that despite the fact that there's just not gonna be any new TV for a while and who knows I'm GonNa make money. It's still worthwhile so thank you. I mean really. I was just very glad to see her back Which is not a thing when I started candy Morningstar That I thought was going to be true but obviously she's great and that episode. She's great in this one And it was A. It was a delightful not quite surprise. Yeah definitely well. Let's start with Candy Morningstar What you think of the structure here and that we get some time with her in the presence we get some time with her in the flashback. I think I enjoy all the flashbacks stuff. More than what we get in in the president's Kina says I love her and a shipper and Lewis for the other really great together. It's nice to see them together yet. Remember that pink snuggie at Snuggie Snuggie I you know I. I'M NOT LOOKING FORWARD TO IN SEASON. Four when we get an episode where there's a brutal murder at a snuggie manufacturing plant but. I hope that the snuggie comes back because it was a delight. It's very it will probably look like we're ragged old was born in fucking verse putting factories look like were joker comes from pretty mate. So did you guys have a preference between Flash Back Candy and Present Day Candy. Not Really. I'd like both things. I was really appreciative of the flashbacks. Since I mean it also gave us or culprit because literally the only other person who had any dialogue in this episode. But I like the flashbacks since they both like gave us some like got to get to see candy. Do some other attempts conning so I really appreciate that but I also really appreciated just that. We got that really long winding ice cream seen as well. That really again goes back to the kind of stuff that we were really happy with with. Charlotte everything okay. Allison is Oh okay. Nancy's off the counter. She was coming in. This is going to be awesome. Sorry continue kind of like emotional. Meet work That again the show seemed disinterested an analysis may be trying to find its way back into so having that stuff on top of all the other stuff we Lucifer's penthouse on this episode. I was just really happy with those flashbacks and then it was just fun. Watching kind of the three of them team up to find whomever had done all the crime and the murdering and the embezzling and whatever was going on in this in this in this case so I was very happy I enjoyed both and I thought that her her present day was very good. Yeah Oh yeah. I love that WIG. I actually really. I don't know that I have a preference so much because I liked the WHO cares about the crime. I like all the scenes in the present with them do But it was nice to sort of have a new structure for an episode You know it's not that we've never had flashbacks before. Obviously we got flashbacks In the close dad episode. Let's deal with a what could be season worth of In forty two minutes at deal But there it was all it was always like they glee. Sapio toned like memories are. This felt very present felt like Lucifer sort of actively piecing together this one moment in life and As much origin story as like a an explanation of both why he's there for candy and why he went there in the first place so I felt like we gain insight into both his relationship with Chloe and his relationship with candy So yeah it was both a refreshing change of pace and I think really valuable. Time spent storytelling wise. In addition to like Wigan snuggie which I mean that alone is worth the price of admission. Kim says it was nice seeing Lucifer. Have a moment of human decadence was not at Lux and it was very intimate in a sweet way. It was virtually way. Yeah I yeah the especially just I enjoyed with the ice cream and Weinstein like the trade. Though is good and wind doesn't payroll chocolate. I just feel like something needs. Yeah but the combination of just like first of all the Intro of candy singing Fever and stealing his ring off his finger like that's that's a good way to get us to like her right off the bat and Lucifer's onboard to and that's like you know how we know we're GonNa have fun in this episode So even if people were on the fence about candy after her episode if that last seen in the first you know her first episode didn't sell them. I think that would and which I think is important for this episode of really work but yet this season has not delivered the way that it probably should on relationship to get the rest like chloe's. Arkan this episode to work and the scenes that we get. The flashback scene with the with the line and the ice cream does everything that we need so that chloe's whole part of the episode which is delightful completely works to and there's just there's. I really like a lot of this episode. There's so much fun with also it's just nice to have ele heck. This feels like Ella doesn't okay. I was really curious about how that was going to play of. She hired of stripper in a big cake. And I was really curious about how that was going to play for the two of you. That felt to me more like while I use to steal cars right like like Like I sort of spontaneous erratic personality as opposed to someone. Who's not a human which is how the last couple of episodes felt to me? I you know I wonder how much of it is. Just that we got to spend more time with her and it wasn't as like joke factory for case of the week But it was following through on some back story and she got to do some actual acting nothing like super heavy. The one thing that didn't work for me and I'll take it anyway. Like I will accept it. I will make this leap for pure entertainment value Is it made no sense at all of a sudden? She was dancing on stage. Have time to do that. A. Didn't and she didn't have time for a costume fitting and like it's just the reality breaking moment for sure but on top of that also not a useful way to look for a potential sable. Better you could just be like a stage bouncer. She could be turning pages for Lucifer she could have been up in the catwalk. There are all kinds of laser that she could be that. We're not onstage in a headdress. And it was still very fun to watch and I get white is that we should just be like yes. Ok. Yeah but it was still a lot that that was where I was like. But you know what okay? I'm GonNa go with you. I'm having a good enough time that I'm just GonNa lean into this and this they try to make her not be very good right or at least not as good as the other dancers and I wonder if at that point. You don't just like go whole hog like you see grit like back experience when she was in Vegas like I don't know why but like and just have her be really good at it in the reason she's doing. This aim Garcia has ballet background. So that's why but because it's fun but yeah the it's absolutely absolutely ridiculous cases hotel about the stripper kick. I'm having good enough time. This will do. You can't imagine that Ella try constantly. Like chasing after lieutenant bland like a approval would think this would be something that he would be. Okay with so like isn't GonNa see store in the hospital. Yes like where is? He doesn't make any sense. I mean I buy something that she would do but just not in that current work environment that they're in so but it but like like say it's fun enough that it's not going to bother me or keep me from enjoying the episode. He's there's no way on earth. Lieutenant Plan could sign off on a hop stripper cake in the precinct. But she's cute guy says we have few few close birthday celebration was pre stripper cake. That was the most mournful harmony but it was. Just how do they do? They still hate her from Palmetto days. Like is she still the UNE cool cop? It was the only explanation I can think of it was. It was just blessed an singing in a key all by himself and smiling and everyone else was like. I hate this. I just WanNa die going on. I was fine. I thought it was sweet and low key and appropriate but apparently I'm in the minority here. kinison's every uniformed officer looked miserable. And I couldn't tell if that was intentional. They're trying to be like office. Birthdays are awkward. You Been Yeah I I like the fund that we have in that scene and that of course we assume as Lucifer and then it's not a good way to set up everything else happening the episode But I think before we get to centered on Ella. Do we have any final thoughts on candy? Like how does the case work for you guys with the mirrors that work? What did you think I always appreciate a good lady from Shanghai reference? So I'm just going to let that go even like even so far is like no no. No we're going to play this angle. It's great it's great. Just do it and it's just like this is very silly like everything else suit but yeah fine. I'll go for it so I liked that The case itself was fine. It was fine. I was glad that there is a little bit of morning for like our initial victim The Folk Candy because we've kind of lost track of her in all of this which is not the best. Was there anything else. Oh we should probably talk about L. A. Hearing Voices in which celestial you'll being that definitely is. Do you have thoughts? I guess not really. I'm always whenever someone is like. Ooh The voices. I'd just immediately get grumpy about it so I hope that knowle's right that was when I was watching with my partner. That was his reaction. Do he was like okay. So what divine being yup speaking to her like. Oh that's interesting because I was immediately like no absolutely not. We're absolutely not going to do a shitty mental health story on this show I will be very mad. So hopefully hopefully knowle's correct And in that case I mean who knows no idea no idea I this center man. I got nothing okay. We should also talk with a musical number. 'cause we talk a little bit of other. Nicholas of it ridiculousness of it. He says for singing with an American accent almost sounded dubbed. And if they're gonNA Doug how about better singer He was very thin the style that they were going for. I didn't I don't I mean I know if they wanted to make it more vagrancy But I don't think luck. Luckily Lady really needs a vegas left. 'cause it's I wasn't hot on the interpretation but and having that really thin light or Santa's he can have a bigger sound that he just didn't use and that's really slow intro I thought it sapped rather than building energy so it was strange but yeah he sounded better in other songs and this should be Asahi. Should be good at. I would think yeah. Yeah it's I don't know I think At some point they were like. Oh Tom L. is can sing. Sing all the time and they literally went out to Kariuki and that's how they found it. He could sing. Maybe Yeah No. That's what happened really the castle doing games. He's one. Oh that's so stupid. I mean bless I now. I just wanted to do Karaoke with Thomas. But that's it's so you have a so that he's maybe not a trained singer which means that they're all kinds of things that he probably sounds great on in some that he doesn't and this is just there are lots of different choices for that song in ways that you can approach it vocally. None of them should be Like your I don't know covering it for Mtv Circa two thousand and four. Like I just don't it was really. It was really weird however again. I'm fine with it. He was having a good time. His Shiny Tuxedo jacket was magnificent. and I'm I'm fine. I'm fine with it. I like once they got to the dancing. Part was much more on board. Once the the dancers came out with ridiculous headdresses in everything still better than Marlon Brando. Yeah well I mean not all the high or his is probably the most heard version of that song. Because it's the movie. So yeah maybe it's a low bar but it's a prominent bar. Yes that's excellent point. I definitely agree there. Let's the wanted to mention. Was I enjoyed some of the various bits that they managed to pull the the the lineup. Dork was it at the end and dark homes right loved it and the various banter at the first crime scene. I actually really enjoyed because they are constantly around death and dead people and murders for their work so the idea of them like like having an excited exchange realize it's not actually candy totally in character. I think it makes complete sense and there are not many shows were. I think that that would be appropriate. This is one of them So yeah I actually enjoying that as well. I like they said up the cop and you think that's going to be a big part of it and no. We're can do this other thing. That's no we are not interested in in this case of the week meaningfully So I just the way. They handled the case. Louis I thought really worked But let's let's talk about chloe his her Khloe and Linda getting drunk have Lucifer's LX in like the progression of that throughout the episode was absolutely delightful. Akina mentioned earlier in the chat Re like the progression of like we should go out and get a drink. Wait a second. He's got really good boots here and he's not here and he should be here and so we're is stay here. Oh Yeah let's do. That was great that moment when they turn to each other in the elevator and and sort of collectively decide. They're going to do this admittedly shitty thing but he sort of deserved it. It's also wouldn't mind right exactly probably shouldn't throw a party at somebody's house without their permission. However and you definitely should attempt to break into their safe that said It's a pretty safe. Bet that lose for wooden super mind as of course he did not and it was so charming and fun and they've obviously both earned as much goose from Lucifer as they want based on the amount of shit he's put them through so yeah it was. It was really delightful and I love first of all. I love drunk chloe I loved their fun. Montage I Love. I love the Khloe Luther impression every time it comes back. I'm more delighted and I think that there should be more glowing Linda in general There should be but also like a real shallow to learn German for finding all the different kinds of sad variations on put. It's my birthday and all the different levels layers that she's able to bake into that very repeated line throughout this episode from the initial one of like being kind of disappointed when the elevators closing to how it gets progressively sadder but also then frustrated. And it's just a really good sort of line reading that I really emphasized how important it was to what chloe's dealing with so I really really appreciated the Gave us much cared of that one line? As she threw out the rest of the episode I think because the Lucifer employees romantic relationship but just relationship in general has taken a back seat all season. It would be easy for this. Affiliate is coming out of nowhere and she really grounds it throughout. And there's a good trajectory to it. I also costuming note the way that they incorporate a reason for her to be wearing white so that at the end when they hug there's a clear black and white him in his suit and her in a white shirt and we need a reason for her to be wearing this. Let's have her too risky business. I love it. That's so fun. Yeah very charming and fun. What it just when a great episode learn German and general just delightful and that their final seem together was wonderful. Yeah IT'S THE IT. It was the right note to end on because it didn't suddenly make it all ambiguous in a way. It didn't need to be right now in obviously is still ambiguous but ending on this note of friendship and like a little bit. Maybe a little regret maybe on both sides But genuine warmth and care was really really nice and what a great gift no sad would gift and presented. It looked beautiful it was funny to meaningful. Lucifer is a great gift giver. Yeah no that. Last scene is gorgeous. It's fabulous it's really and again it needs to deliver right. The keenan says First of all the it says the reading the Bar is satisfying in the same way as the snuggie she would love to raid those liquor shelves like yeah absolute hundred percents And the penetrate penetrate had enough as you say warmth and care that it was an Innuendo from Lucifer. That was really touching. Yes yeah absolutely. Because then that makes it feel so specific in character but again after watching her be hurt but then talking to herself about how she shouldn't be hurt and really but it's like watching her. Try TO Gaslight herself about their relationship and so having that not only the scene the moment of him talking to her when he thinks she's asleep which is very well written and performed But then to end it on a note of no this needs to be something that validates both of them and we're coming from what they're dealing with. Even if Lucifer is being very stupid in my opinion maybe we'll talk about that about his whole life. She has no free will over her emotions. Because I said so anyways more that in a minute but to show that he had this obviously that he had thought about for quite a while and he had taken such care to do such a simple and meaningful and lovely gift for her That spoiler we will see again so it just it just gives the right button totally and for character marketing and it's just absolutely lovely and any of the shippers in the audience if you aren't already shipping them. I don't know how you could not after that scene. Well they're wrecking the Candy Lucifer herships so I mean. That's that's major thing right there. I I. I'm of two minds. I guess like of course. Very charming. I care about them both. I want them to be perfect. Happy cupcakes together on the other hand. I jest Made I guess what I ship is like platonic friendship so I I don't know I I sort of miss. I Love Win Win. Friendship can have the like will they? Won't they energy without it? Being the only thing that it's about that's I think stump town did that really well. This year. There have been some other examples but I just. I don't know I get like yes. Of course I ship it but I mostly just ship. Let's have a complicated friendship and maintain that complicated friendship. Despite this other wrinkle in partnership I would think that they really stress on the show and yes because they are literal work partners. But it's it's much more than that and I think they handle that really. Well here Did you guys have any other moments that you wanted to be? Dan Be very excited and very excited. Be Having spackle ready and then soon with the spackle such a dad. It was so great. I know trixie wasn't in this episode but I'm glad that that Dan God Adad moment because it was such attack moment. And Yeah. Dan was a delight. This episode I my partner and I were talking about this. I wish I sort of wish that the first season Dan cloy relationship had just never existed vibe. This like were co parents who respect each other and maybe occasionally. It's just a teeny tiny. Bit Complicated as all human relationships are but that they're cool is incredibly refreshing. It's really really nice. Yeah well and he's just like so that's drill to Lucifer's while he's pump that he gets to do all this vandalism around Lucifer's penthouse this motherfucker. I can't wait. He's eating enough for my put and I also like the awareness of boundaries with Dr Linda. And how this is not appropriate but also I mean she's been through a lot and she's a lot for this yes she gets to go read his first folio from shakes hoping she keeps that magnifying. Lens and it becomes like a little charge key in her in her office. Because that's a bad ass. Magnifying glass doubles is a knife. I think it was very cool. Can we pause for a moment and try to guess? What section of hamlet loose for did a brush up on? Yes we should definitely discuss this. Okay I WANNA know I wanNA know. Your thoughts called Wells Youtube. I WANNA know. What section of hamlet did lose for dual brush up on all right so I feel like the grave diggers seen sort of the obvious choice and I would not be surprised if he helped conceptualize those two characters but in my heart of hearts I really wanted to be is that Shakespeare was just really struggling with Affiliates stuff and the services like flowers? It's all flowers. Indigenous layer in those meetings of the flowers and what they mean. And that's what that's what I think it is. That's what I think it is So I think it's the diggers and I think it's Affiliates Flower Madness. I think it's things then too good. That's a good pool. Well guys is the play within the play. He's always trying to trick themselves up. And that's that was my Go-to as well though. I like the failure idea. I also feel like I don't know I'm torn between the idea of Lucifer being needs more jokes. But also William Shakespeare just really not needing help with that so like I'm Kinda but yeah the play within the play is what I initially went to. I think that's the that's the best answer. I also sort of thought that maybe luther would be like Shakespeare Really Is this all? You'RE GONNA do for affiliate Camman jeans. She needs a really good Madson. Let's get it together however I also think there's a possibility of that may be Lucifer's responsible for a lot of the participating that Oh my God I just flew. Right I said pontificating Polonius Polonia got confused because you think like all's Claudius after God that was that maybe it just like someone who never shuts up in one stop giving advice And then it's like and then by the way you can totally kill him off and they get naked right. Yeah let's do that And then I had one other thought it was oh he could also be responsible for ghost king right should I? Certainly hamlet has lots of Daddy. How the ghosts can I think is in the source material? Oh Fair okay. Well I I mean I think Scotties is the closest to but this was fun. Thank you yeah. Yeah okay. Thank you for letting that happen because that was very good. But I kinda made my day. Alison thank you for bringing this up cheers. This is very fun. Super Fun episode. And we've had a few in a row now. This is good kimes yet. Liz versus schober. I all of this. I want us to keep thinking brought this report back. We have any further thoughts on on on Lucifer and Hamlet. And all all. Now I'm just trying to imagine him up the rest of the. That was where my name and I was thinking about MC bath. I was thinking about Titus Andronicus who I was thinking about midsummer because you know what Lucifer. I'd bet the first favorite plays midsummer absolutely even though it's next drugs and switching like all mayors another play within a play And people like switching partners and donkeys and like all that Shit Very Lucifer. Nick Keenan says nick bottom. Yeah exactly also. He would've come up with that name and then be letting t. He good times goosebumps. Well Keenan in Scott if you have any thoughts about this Ardia moments read. He wanted to shout out threaten to the chat. Otherwise final thoughts. We're at and where we're going and and you know if you know. I haven't told you the next episode title tomorrow. We will be talking about season. Three episode seven off the record so we historian fact and the toilet back yeah. I'm more excited about so. I I gave you my preemptive episode excitement based on two things whether or not Latoya is going to come on the show. Not title is really boring but if the toy is gonNA come on the show then like okay. Let's do this so I'm excited about that. Mostly I'm excited at the moment though because that's two episodes in a row where I was like. Oh good yes. I enjoyed that. That's good this is like watching Lucifer again. So we're on a roll Yeah I'm I'm hoping that this slight starts like a slow mend or maybe not not so slow amended like Lutheran close relationships. I don't think it is but I think it's like part of like a first step in whatever like this season long journey. That's going to be for this. Which is too long of the season for this to be slow played But that's what I'm that's what I'm expecting but I'm also I'm keeping an eye out for celestial voices or an ear out for celestial voices for Allah because that's my bet there so is like journalism centric episode gets relitigate season. I wire because season five of the wire is actually really good. Y'All and here's why now. Now I'm not setting the convince me Bro. Table for that the wire like to things. Yes but compared to the wire especially that like perfection of season four. No we're not doing this more on that tomorrow. I just hope that it's not like and now I'm GonNa fucking blank on the episode title but the similarly titled Episode of the West Wing. Which is the Mach Memory? One which blows. Yeah though not there we go. That's that's my mixed. Tv reference off the record on the record all I know is suddenly and inexplicably. Cj's really bad her job. Oh Hi is what happens. Is that upsets like this. Until after the board administration we do Bouba now. I have to find the title. It processors are degrade. Our guns not butter longer by inauguration. What's what season is it? Debt Life on Mars. Is it season? It can't be six because she's Chief-of-staff by them is it. What zoos at Burnham win the job nope it's gotTa be earlier? I'm doing. I'm sorry I'm doing it. I'm doing it. Is it season three. How could it possibly be season three? They're running for reelection. It wouldn't be season through ways and means on the team for crimes quite Indians in the lobby. That title women of Kamar. Oh God this is the two fibers season three such a weird fear Wang. We killed you. What is it hold on at this? It is access. That's disappointing shape. How that was a long road for that disappointment and I think it was worth it. Happy to oblige I maintain. I hope it's not like that upset. We're GONNA get a mental episode is GonNa need to be like the veep episode which is just one of their best. Let's just always play on that side of things but the conversation for another time I believe. WanNa make sure. I'm not saying this wrong. I believe that Vegas and then the episode tomorrow are two of the four stand-alones that were originally going to be two and then got reworked and the last two are at the right at the end of the season And the other thing so so yes. There are some standalone things but there are also some things with this episode and then this is I mean. I guess it's a spoiler but I'm gonNA tell you because very low key spoiler And say that a lot. I think not all but a lot of this. Next episode is is in over a different time period like stretch over time so it's not all set in the current which means that it's before the tenant bland was there so it's another lieutenant planned light or empty episode. Oh so yeah. It's it's at least a Lou. Tamplin light so I guess that can. Hopefully I liked to here. Yeah and I like both of the Caldwell is answers here. Scottie says that I hope the gang continues to help themselves. Looser Lucifer's apartment. While he's out and he's just constantly bumped missed the hangouts Shan against. Yes that is that is correct and then Keenan says yeah sips of rewarded a second. Viewing it was more fun. I remembered I do think it's hilarious. That any mildly clinical slash science character. Meaning Ella on TV and count cards but quibbles fair enough. I liked that. They gave a reason for her to Glam out and it was because the last time she was in vegas she was all hoodies. So she's like maybe they won't catch me as quick worked for me and also just let you know l. FAB which is delightful. Did you have? Did you guys have any thoughts on the radish ravishing thing? It was cute. It was very yeah. I was said there weren't any actual radishes. However yeah I did think of you with that and who is that? We'll have a conversation about season three episode six Vegas with some radish. We're back tomorrow for off the record looking forward to it looking forward to talking with toy again. I will plan on is going to be a longer episode and I'm sure we'll have lots of questions for the toy I know I do So more on that tomorrow until then thanks to Keenan and Scotty for hanging out and buy.
Cambria Fund Profile Series Cambria Shareholder Yield ETFs (SYLD) (FYLD) (EYLD)
"Welcome to my favorite show where the focus is on helping you grow and preserve your wealth join us as we discussed the craft of investing and uncovered new ideas all to help grow wealthier and wiser better investing starts here. Met favors the CO founder and Chief Investment Cambridge Investment Management. All opinions expressed by podcasts participants, personally their own opinions and do number of camera investment management for his affiliates. Howdy podcast listener's we've got a little bit of a different show for you today. Over the past decade, we've made an effort, educate our clients and ambassador now over forty thousand strong by publishing research and commentaries across the blog academic papers, book speeches, and now in the more modern social world twitter and Youtube in this podcast. However, we still get many great questions every day about our funds many, which are broadly similar as we wanted to try and use this platform to help educate shareholders as much as possible. You know sometimes, the spoken word provides a little more context narrative than just an academic paper or fact sheet and has always the most important thing and investing is finding an approach that works for you, which may or may not involve any of our funds, which is totally fine. We just want our shareholders to be as informed as possible in what they're invested in. So enough intro please enjoy today's episode in our series of fun profiles. Howdy podcast listeners. Today, we have a special episode in which I'm going to be talking about one of my oldest and favorite approaches the market which centers around something called shareholder yield. As part of this discussion, we'll talk about three Cambria funds, which we've engineered with the shareholder iota approach as their centerpiece has a lot to discuss. So let's jump straight in. Let. Me Start with a question. What's your approach? The Markets Today on one hand June tenth, we have the Federal Reserve chairman j POW suggests interest rates will be pinned to the floor for more than two years, which is a challenge for traditional income investors. On the other hand, you stocks have been pushing higher since there late March lows and the Nasdaq composite recently said an all time high. This is impacted valuations. Regular. PODCAST listeners and readers. My blog know that one of my favorite valuation measures the Schiller Pe ratio also called the Cape ratio stands for the ten years cyclically-adjusted price to earnings ratio. I'll put a link in the show notes. But if we look at the Pierre Current Cape Reading the time of this recording, you'll see it's one of the highest ratings in the last hundred years similar periods of overvaluation during the depression and the DOT com bubble at the turn of the Millennia. So put historically low interest rates together with historically high valuations and investors face a tough question. How do you find investment that offers potential income and growth is not burden with a nosebleed valuation. Unless just be Canley about the potential trade off an investor's portfolio on one hand. If you invest today, you run the risk of a second steep drop in the stock market such as we saw in February march of earlier this year. But if you stay on the sidelines and the market continues to grind higher returns zero. Is there an answer? Yes I believe there's an answer. One feels good. One income growth still possible even in this market though admittedly for some harder to find. Now before we get into specifics of our shareholder yield strategy, let's dig a bit deeper into today's market environment because I believe it points toward how the shareholder yield strategy can help investors. It was an early June that. Federal Reserve Chair Trim Powell warned that the US faces a long road to recovery. The policy forecast released by Powell on the Fed showed target rates remaining pegged zero to zero point five percent till the end of twenty, twenty two. As creates a challenge for investors who need income. Meanwhile. Even after the MP's thirty, four percent drop from February march, and after the six percent drop in June eleventh, she'll appear show the S&P is just shy of thirty as of the end of the month in June twenty twenty, which makes it one of the most expensive markets in the last one, hundred fifty years by this measure. Not. As high as one, thousand, nine, hundred, nine when I hit forty five but still expensive. Low. Yields and high valuations leave investors in a terrible position. But what else is there to do you may have heard of the Tina trade which stands for there is no alternative. And suggests there's no good investment alternative stock market today and unfortunately that's how many investors fuel right now. Why believe it can help to stop looking at the market is one unified monolith that rises or falls in unison and see it for what it is thousands of individual stocks and businesses that offer varying risk reward profiles, and it's from this more grander perspective that we can begin to look for stocks characterized by traits that I believe the line of the. Powerful market approach shareholder yield for those unfamiliar shareholder yield strategy is intended to help investors get exposure to quality value stocks that return the most cast shareholders, dividends and buybacks relative to the rest of the comparable stock universe. So let's break this down a little bit starting with dividend yields are Sherwood Yoda ETF's we have three which all discuss some more detail shortly. All reported healthy dividend yields over the past thirty days even though or funds don't target dividends in isolation. And our show notes a link to our white papers that will compare the dividend yields verse shareholder yield ETF with their benchmarks. To illustrate here on this podcast, though take our Cambria shareholder Yoda for the Ticker S Wile D. It offered a thirty day as he yield of two point seven as of the end of June twenty twenty, it's comparable benchmark the Morningstar mid cap value category offered a lower thirty day SEC yield of just one point, six, six percent but dividend yield is just the beginning. Remember we've engineered our shareholder the eds reflect total cast distributions to investors from both dividends and buy backs. Now in management rewards investors with buybacks we wouldn't clearly see that value transfer reflected in the dividend yield therefore, while shareholder Yoda ETF's have higher dividend yields currently, we shouldn't necessarily expect our funds to be leading this category. But from this Atta, perspective which includes buy, we suddenly have a far more complete way of looking at a potential investment. So, a few quick words about buybacks for listeners who are less familiar with their benefit to investors. Without getting into too much detail corporate share buybacks can be an effective way for managers to return profits to shareholders similar to dividends yet without triggering the taxable event that occurs with dividends. This means shareholders receiving value, but it seller. Gently camouflaged in the asset markets price rather than the obvious dividend payment that appears in your brokerage account one day. But that doesn't mean the value isn't there as just in a different form and at the end of the day when you prefer the highest total return possible regardless of the source of that return. All, you Warren Buffett fans out there may recall his stance on buybacks from his nineteen eighty-four letter to Berkshire. Hathaway shareholders which read quote. When companies with outstanding businesses and comfortable financial positions, find their shares selling far below intrinsic value in the marketplace no alternative action can benefit shareholders as surely as repurchases and of quote. Now, the key phrase for buybacks here is intrinsic value. If you're an overconfidence, a Yo buying back overvalued shares dinner destroying value in such a case, an objection to including Bhai backs would be valid buybacks would indeed be a detriment to total return. The win wise CEO Bob shares a great valuations that are below intrinsic value to paraphrase buffets quote no alternative. Action Benefits, shareholders as surely as repurchases. Now, when we combine dividend yield with by backyard, we get a clear picture of a total return to shareholders. Again, I'll point towards our white papers on this, which we linked to in the show notes, you can read all the details but illustrate the power of combining yields. Let's TURN BACK TO OUR FUND SHAREHOLDER YODA S. Wile E. since we launched this fund on May Fourteen, twenty thirteen running through the end of June twenty twenty as well. D is returned sixty point one six percent based on that as value in comparison Morningstar mid cap value category return just forty point five, four percent over the same period we believe that's a powerful illustration of the benefit of combining both. Yields now early in the PODCAST, we talked about lofty evaluations. One of the basic tenants of investing is that all else being equal the less you pay for an investment, the better your future returns should be by that logic, the better the value at which you can purchase quality assets. The better position we would be for the potential of increase returns going forward. From February nineteen and twenty, twenty, two, March, twenty, third twenty, twenty, the s and p index endured the quickest fall from the all time high to bear market ever and just twenty three trading days. The index fell thirty three percent. How much Are Swedish shareholder yielded yes. Were Immune to the market sell off course over the same period as well. Defence forty four percent are foreign version F oil de fell forty percent in Etowah emerging markets fell thirty, six percent. Of course says, late March lows till the June, the funds were up forty, one, thirty, seven, thirty, two percents respectively while the S&P index was up thirty, five percent. Even better do evaluation factors will discuss today we believe s Weil D. as well as it. CICERO TAFS are wildes sweet is poised for strong performance going forward. It's where do our shareholders job ETF shape up valuation compared to the benchmark categories. Let's answer that question my looking with s well once again, in our initial white paper, that explorer shareholder yield strategy we compared while D. to its respective Morningstar category and five valuation metrics price to earnings priced book value price to sales price to cash flow in price to free cash flow. Incredibly proud to report that as the June twenty twenty shareholder. YODA's why offered a Lower valuation level than its Morningstar category and every single metric for price earnings as well. These multiple was seven point two one category was almost double at thirteen point eight to price to book as well. The was point eight three compared to the category of one point five, six prices sales as well. D- Multiple was point three, six whereas the category was point nine five. Price to cash flow as well. D- was three point one, five in the category was seven point eight one finally for price to free cash flow as well. These multiple was eight point six, eight while the categories reading was eighteen, point, nine five and don't forget as well. D- Had this lower valuation while also offering higher dividend yield of two point seven one compared to the categories yield one, point, six, six percent. Finding that. Let me top it off by reminding you as well. It is posted greater overall returns since inception than it's category comparison standardized performance as of the end of June will be covered towards the end of the podcast. For us, this is a clear illustration of the power of a shareholder iota approach. The markets are two returns, lower valuations and a higher dividend yield bottom line. Yes. This is a challenging market for income investors, but it doesn't have to be an impossible market. We show income growth and good value still out there you just have to know where to find him. So this point you're familiar with one of. Our three futures shareholder your approach. That's the Cambria. Shirota diaw with the ticket s wildy which we referenced a lot so far. But as mentioned earlier, we have three unique funds are frank shareholder your broach the difference between the fun lies in which global market the fund is focused on well as well de Focus exclusively on stocks United States for non US developed country markets we offer the CAMBRIA foreign shareholder. With a symbol. F wildy. As of the end of June twenty, twenty F- While the offered a lower valuation level than its Morningstar category again in every single metric. Price earnings multiple seven point eight, two for F- wildy in the category ten point two, nine price to book. F- Oil D. was point seven four compared to the category of point nine, six price sales and the US point four four while the categories point five, six price to cash flow Etoile de multiple was four point one, six whereas the category was five point four, four for price to free cash flow. F. wildy was seven point six, five in the Category Levin? Point eight five. Two F. Royal De Traded, a lower valuation on these metrics but trail the category and dividend yield offering three point nine four percent versus the category average six point five percent. Again, these are se thirty day yields, which you can also compare to twelve month yields as for emerging markets around the globe. We offer the CAMBRIA emerging shareholder. You'LL ETF the ticker symbol e wildy, and as the end June you'll offered a lower valuation level. It's more historic category again, every single metric. For price earnings multiple was six point nine one while the category is fourteen point seven, six, price the book you All D. Multiple was point nine, six compared to category two point Oh, seven rice assails USD multiple is point six two or as a category was one point seven, five price to cash flow you wildy multiple four point three versus a category at ten point Oh five. For Free Cash flow you all D.. Multiple is eight point, two five or of the category of twenty eight point eight two. So like the USD carried, it's lower valuation and offer a higher dividend yield is six point two, four percent compared to the category yield of one point four, seven percent. We believe this illustrates how shareholder Yoda's a powerful market approach for investors even across borders. Now shifting gears a bit for any listeners who are curious about the construction of this type of fun short, we begin with a broad universes stocks of a suitable market capitalization that also pass liquidity and price requirements. Next, we select the stocks in the top twenty percent of the universe by yields across dividends in net by X., we then apply valuation and Sambol across a number of factors similar. The ones we discussed previously. We reference five of them earlier. In this podcast, we further shrink the universe by isolating the top shareholder yield stocks registering higher debt retirement with low financial leverage. Those are both quality metrics. We also seek to avoid value traps by doing a final sort based on momentum indicators. It can be an exhausting process, but we believe it's worth it as a result speak for themselves as we. Wrap Up. Yes challenging market, but we don't have to sacrifice in commerce growth or reasonable valuation. You just have to know where to look to find those traits. We believe you can find them and our suite of shareholder YODA gifts. For more information you can visit Cambria funds dot com a reach out to us at three one, zero, six, eight, three, five, zero, zero thanks, and good investing. Here's some required standardized performance for your reference as of June, thirtieth twenty twenty over the past year, as well as net asset value in its market price return minus eight point, three, six percent and might as eight point two, eight percents respectively while the five hundred index return seven point five, one percent or the three year period as wildes net asset value and its market price returns zero point, seven percent and zero point, two percents respectively while the S P five, hundred and x return ten, point seven three. percent over the five year period as well. DIS NASA value and its market price returned three point seven, four, percent three point seven by percents respectively while the S&P five hundred extra ten, point seven, three percent over the ten year period five, hundred index returned thirteen point nine, nine percent since the fund's inception on May fourteen twenty thirteen as these net asset value in its market price return six, point eight, three percent and six point eight, three percent respectively while the five hundred index return. Levin. Point. Six, seven percent. As a June thirtieth twenty, twenty over the past year. NASA value in. Its market price return minus twelve point four six percent minus twelve point two two percent respectively while the CIA index return minus four point seven three percent or three year period wildes net Australia market price return minds two point, six percent of my, it's two point seven five percents respectively while they must CIA find extra turn. One point three, zero percent. There was a five year period while deeds NASA, Valionis market price returns zero point seven, six percent and zero point seven, nine percent respectively. Eva, index return two point five percent over the ten year period the MCI and extra turn six point two, two percent since fund's inception on December third twenty thirteen if are out these net value and its market price returned zero point one, six percent and minus zero point one percent respectively while they must. An extra turn two, point, four, five percent as of June thirty twenty twenty over the past year you all nets value and it's mark price return minus ten point nine percent and minus eleven percent respectively while the. MCI. Emerging Markets Index return minus three dot five percent or three period these NASA valiants market price return one, point seven, six percent and one point five, five percent respectively while the MCI emerging markets an extra turn two point two, seven percent over the five year period the emerging markets index return three point two, four percent or the ten year period, the MCI. The return three, point six, three percent since fund's inception on July fourteen two, thousand sixteen, we all these NASA value market price returned six point, two percent and six point two, eight percents respectively while the MCI emerging market and extra turns six point, six percent short-term performance may not be indicative of long-term performance. Actual results may vary past performance does not guarantee future results. The investment return principle value and investment will fluctuate. So an investor shares winner Dean May. Be Worth more or less than the original cost. Current performance may be lower higher than the performance quoted closing market prices the midpoint between the bit ass prices of the close of exchange. Since the funds shares typically do not trade in secondary market until several days after the fund's inception for the period from inception to the first day of Secondary Market Trading Insurance, the navy fund is used to calculate total market returns. Shares are bought and sold at market. Price closing price, not net asset value in a V or not individually redeem from the fun market price returns based on the mid pointed out spread at four pm eastern time when AV is normally determined and do not represent the return would receive. If you traded other times buying and selling shares result in brokerage commissions brokerage commissions will reduce returns they determined his is appropriate investment for you carefully consider the funds and invest objectives, risk factors, charges, and expenses. Before investing, this information can be found in the fund's Prospectus, which may be obtained by calling eight, five, five, three, eight, three, four, six, three, six, also known as UCF. Info or visiting our website at Cambria funds dot com read the perspective carefully before investing are sending money Cambridge ut after distributed by Absol- tributaries twelve, ninety, Broadway suite, one, thousand and recall Arado eight Oh, two three, which is not affiliated with camera investment management p investment vitamin for the fun. Few. Definitions Schiller Cape ratio adjusted price earnings ratio is the price of a security of equity index divided by the average inflation adjusted earnings. The past ten years the S. and P. Five, hundred index and index of five hundred. US stocks chosen from archives quality industry grouping among other factors. SB five hundred is designed to be a leading indicator of US equities is meant to reflect the risk return characteristics of large. Cap Index Universe. Nasdaq composite abroad based market index includes over three thousand equities listed on the Nasdaq Stock Exchange shareholder yield generally defined as an equity securities toward your from the combination of given buyback your dividend payment from a corporation to assure holder by back the process of corporate buying shares of its stock price earnings ratio pe ratio is the ratio of company stock price the companies per share earnings price to book ratio. Is the ratio of company stock, price the company's book value prices, sales ratio the ratio of a company's stock price of the company's revenue price to cash flow ratio ratio. A company's stock price the companies per share cash flow pricey free cash flow ratio was ratio of company stock price of the company's per share free cash flow enterprise value to a does the ratio of companies. Enterprise value immeasurable companies total value to the company's earnings before interest taxes depreciation amortization thirty day SEC yield standard. You'll calculation developed by the US that is based on the most recent thirty day period. UDF's are subject to commission costs each time by ourselves executed depending on the amount of trading activity. The low cost of you task may be outweighed by commissions and related trading costs diversification. Not Protect against market loss. There's no guarantee that the fund will achieve investment goal investing involves risk including the possible loss principle. Cambridge shoulder yield is actively managed. Cambria foreign shareholder yield is actually manage on June I twenty twenty, two, Cambria, Shareholder York Cambria foreign shareholder yield change vestment strategy, and investment objective. The funds also change from being passing, manage to actively manage on that date July. First Twenty Twenty Cambria emerging share Oreo changes in investing objective investing tragedy and also change from being passing managed to actively on the day. There's no guarantee that the chief investment goal investing involves risk including the possible loss prints. Four high-yielding stocks are often spectacle of risk investments. The underlying holdings of the Fund may be levered exposed holdings to higher volatility accelerate the impacted me loss of. These companies can be paying out more than they can support a May reduce their dividends stopping dividends at anytime, which could have a material adverse effect on stock price. These companies in the fund performance international investing may involve risk capital from unfavorable fluctuation currency values from differences in generally accepted accounting principles or from economic or political instability and other nations. Merging markets involved heightened risks related to the same factor as well as increased. Volatility and Lore trading volume investments in small companies typically exhibit High Higher Volatility narrowly-focused Funds Typically Exhibit High Volatility Twenty Twenty Morningstar. Reserved information contained here in one is proprietary to morning story or content providers to may not be copied distributed in three. There's not warranted to be accurate timely, complete neither morningstar its content providers responsible for any damages or losses arising from an incident formation. Past performance is no guarantee of future results.
Friday, March 27th, 2020
"Good Morning Libra. Today is Friday march. Twenty seven two thousand twenty. The moon tourists sex tiles mercury. You were dedicated to the relationships in your life but may struggle to believe that this dedication is returned. This is libra today. Apar- cast original. Let's begin your day when you were born? Mercury appeared in the sky as a Morningstar. Now it acts as a guiding light revealing your path forward. This may require a leap of faith. And we'll take time to see the fruits of your Labor nevertheless. Trust your intuition. Slow burn belts intense heat. Now take a moment to reflect on your relationships. It's hard to communicate your feelings to a partner when you're not totally sure of what you want to say. Release yourself from the responsibility of having all the answers. Maybe what you really need is space a little time to sit with your thoughts before you're ready to share. Contemplate your path to personal growth over the next few years. Saturn is set to deliver difficult lessons around passion. Perhaps your ideal relationship is unrealistic. Or you have a dream but are not truly putting the work into succeed. Be a willing student. The Universe has curated these lessons. Just for you libra. Today is daily. Podcast follow on spotify to make a part of your morning routine if you're interested in learning more about your sign. Download the sanctuary APP from the apple store or Google play for personalized birth chart reading and follow sanctuary at sanctuary world on instagram. That's S. ANC T. U. A. R. Y. W. R. L. D. Horoscope. Today is podcast original.
Side Stories: Momo's Bizarre Adventure
"Sir. Twist to the loss on the left side stories. One of the doors. Balm? Tell me why don't you go? Yeah. Bone thugs bound Fong's bone time. I think those thugs need some bone, hugs. I agree. Are we gonna go over recording? As good was that is that going to be the start of the show? I guess. Those dogs need some bone, hugs. I love bone, thugs, and harmony is great. They were wake up wake up. It's the the first of the month. Oh, yeah. It's really sad that the old don't get to sing a song until they die. I know isn't that nothing with that song about how like when you get to meet your friends? Easy. They had easy in the clouds in the video member that was sad. But as a boy didn't know who that was you didn't know easy. How why easy was? And I was in Wisconsin. You didn't do you. Even remember a description of my parents in the life. I live. I was obsessed with phantom of the opera. Michael jackson. All those things aged great hand and Bill. Cosby wonderful. The phantom turned out to be the best one who would've thought. All right, everyone. This side stories. I am Ben Kissel, Henry's a brow sqi in beautiful in the east coast. Ya welcome to the east coast. Yeah. Yeah. In New York, you'll come walk in. He it's beautiful here in New York City, actually really is. It's quite nice. You brought the weather with Henry fucking kill you. Fucking kill you. I wanna thank everybody who gave out to our show with the bell house last evening again and beautiful. Brooklyn, New York. It was not a complete and utter disaster. So for us that was really impressive. We are afraid each time. We step on stage. There's a point where it's like I remember the three of us looking at each other's being like, well, we don't have a show. We have no show. Yeah. Right. What are we going to do? And then and then they just say boys curtains up, and then you're like, okay, great. We can make them laugh myth. And that's that's how I know. I do it's like I posted about once a game. But it's true. I little boy always comes up to me dirty dirty face covered with. And he says make them laugh, Mr. right? And I say get out of here you fucking orphan. I'm not grooming you for anything. And then of course, the orphans like, I'm actually technically your manager. That's right. Thank your manager. Love you you better make them laugh Kimmy team. I would have to I would believe anyone although scrappy kid. Back in the day man, the nineteen twenties and the thirties. What about their more mature than most adult? Males are now. Well, there were like ten they were forced to be adults it right away. They had to be adults. But they were also really cute because there were like little adults, and they were like screaming at people be like go to provide for my family. I think it was a shame yoyo right laws. So that didn't happen again. I tell you what the one thing that's to Natalie pointed to me because I like being back in New York. The one thing I can't really handle that him teenagers right on the street because how many times I've already told my story of how I've been gang harassed. You are an old, man. But yes, which Natalie said to me, she's like, well, you're just getting older. What are you saying? And she's just like the yell. They do yell, but you yell all the time. Yeah. But I tell I earned my yelling, I see earns Meyer age who be fair you have been victimized by every group in our society, the old the young the middle aged. So you have. More of a rational fear of all people. So I don't blame. I don't think that you're just being a Christian. I don't think you're just being an old guy potus stoop licking his shotgun. Just win for someone to step on his no what I now understand is the problem is I understand what is going to take like it's Toronto by another group of teenagers. And they asked him to the Chris Farley impression. I'm not going to do it. Again. I'm going to start doing thing that I've learned is a really good way to get yourself at any tight situation. Which is you start punching yourself in the face. You're ever see yourself. You get the fucking guts. Honestly, take a couple of shots. Fuck dead that would completely work. And that would traumatize the youth. Yeah. I understand. They're like. Oh, yeah. White people are crazy. Absolutely. Really? Are. We don't we don't get enough credit for being insane. I think we've just forgotten because mostly reviewed as like, you know, either harmless or literally the controller of everything. But then they're also there's a real pocket of us fucking real real dangerous. That's the sweet spot. That's where you wanna be the safe zone. Some calling writing of. So thanks, everyone who came out to the bell house. It was so much fun. It was such a great night. It was and I think this tour is actually going to be a lot of fun. I think it's going to all work out justify we gotta show, man. We gotta show we gotta show. But you guys it's like you you build an hour and a half of material. What you saw have you watched a live special odd last podcast live dot com. You can get for six dollars six year. One of the eighteen people that actually. Purchase that thing. God go by get it again by. But if you see that you really that's an that's a year and a half a work that immature stream of sentences was a year and a half, technically the tightest ever gotten. Yup. That's it. And now you throw it away. And then you have to do it all again and you coming in the show, and you're like they want to be entertained. We're like if you ever watched comedian that Jerry seinfeld's like him, just like it. Although not so pretentious about it. Because Jerry is like throw it all away. I'm like, Jerry just come up with more jokes. I don't forget. Now, you're just you're just looking at stuff, and then say and stuff, and then you just get paid a bunch of money to do it on stage. So Jerry, we've stopped asking you for jokes. We've stopped asking you can stop them to do it ever. That's the thing with everyone. Like when it comes to Louis CK, all these people. I mean, I don't know. Like, you could just go retire you so much money. All I want is money and go where my people are. To go because of our oppression Uruguay to go to the beach here fresh. Hey, yes, sit there on the beach where my body. Yes. It will be ridiculed, but it will be ridiculed by people's speaking Spanish, and I don't know Spanish as I will say they must be commenting. How how funny I am. Yeah. Because they're all really. Good on. And you like you like me. Yes, I am grand. Yes. Exactly. Very big actually did. I had an Uber driver like two days ago who just broke me down. He's like you. Yep. Big. He was an Asian dude. And he was just all he could talk about. He's like do you need the seat moved up more like just with his car? Yeah. He was like, I have friend with limo. And I was like, I know I'm big, but I could fit. I promise you. That's the what issue when I do. But it's actually people trying to be really nice. Oh, yeah. It was just like Chinese accommodating disappointing being like, oh, no, no, no. You can just feel my knees in the back of your drive. Oh, yeah. So you think that obviously, it's it's a passive aggressive way of saying, sir. You're frightening. Me frightening is are you need more room? We need more distance get a buzzsaw they say soft the top of their roof, and they're like now, you can fit and I'm like, thank you. But you didn't have to ruin your car for this. Rhino people. It people take it in stride. And also, you get a lot of people think that you can take a lot of Gulf because you're big it's I get some. But you don't think the small doesn't get as well. I know everyone gets. That's why I don't complain. But honestly, anyone who's ever hung out with me long enough? We've spent how many come up to you and say. Say that all day. I watched that video member that video of the girl who walked around New York for twelve hours or whatever s out no her breasts not out. Oh street harassment. He'd recipe that is bad. And it's like Superdome. Just shut up. Like I wanted to video like that. With me though, because it's different because it's not like I want to plow that it's more just like. So disappointing for your size like every that. No. And then the worst thing is when you open the door like when you're coming out of a bathroom or something in a public space. And then the person who follows you they do the thing where they're like a foot away from you. So they just look at your tits, and they have to look up slowly. And I'm like, I got it. I am a man. Yes. Oh, no. But my thing, but I've been having recently. And I, you know, I consider myself like drives because a look at me, right? I'm innocent looking boy, we took him out. Not sweet face, right? I got little shoes on on. We'll add on how many times I'm out at night. And it was like it happened to me two days ago where on the street, and there's just it's just being a woman walking in the street. You gonna women in front of me, right spilling ten pastes in front of me keeps looking back checking keeps chicken, and I'm just like just me high eighty I don't do any to do. I know you can't we talked about this before. Because you also not here to hurt you because you then she's like, why would he even say that close to me, and I wouldn't talk to you. Then they literally book it away from me. But I understand it the dangerous world other for women. It is a dangerous world out there. There's a lot of violence. So let's get to a little bit of it. Now this first or let's talk about this this. Let's talk about this guy who office penis. Covered the Lorena Bobbitt story, or it's like on one side, if you unvoluntarily get your penis removed because for good reason, I mean, honestly, yeah. John John Bobbitt both hawk if there's ever been a apparently, we had a listener who who emailed us. They do at Christmas party. They played bobbin for Bobbitt's, which is like bobbing for apples. But with cucumbers. That was kind of fun. Honestly, do you ever watch porno? No, I actually the most the most I saw was in the lorraina documentary. I think that's enough for Franken peanuts. I did work. I research for the show. Oh, you're doing more re you know, that's what you just do so much research. That is what I do. And I did look it up, and it is fucking jank up. Yeah. I'm sure it is because didn't even work. It looks like if an N touted dick like it looks like a tree day. It's all that round and like crooked. It's got like it's all afd up. Well, that was after he got the surgery when the whole point was the gawk at his penis, but he did one where it was all natural. Yeah. Which like it's still got like a slid in it. I'm sure man. I mean, it's amazing attached. At all the women are not particularly for they're not my style. It's very light. Don't yet. He did not get top to your talent. No not. And it's just I hate his face when he's coming. All you. Sure. I can't believe you made it that far into the documentary. I just did the click click, how do you watch porn around? Yeah. To morocco. I do one for Schefter do one third chapter one seven chapter. And then I get to the eleventh chapter kind of see our reps up. And then I mean, it just him cross eyed going. I hate to wrap up like every other one. Yeah, wraps up. All right. So this comes from where is this is beautiful spun biddable, spun Espana Spano. So this is the headline here. This is from the mirror bloodied, man. Thirty three years young. He was found wandering the streets after amputating his own penis. I know that the penis in the headline is in all caps, if we wouldn't be able to read it paid us. So this missing organ was being carried around in a plastic bag. So he cut off Johnson put it in a bag and was just like going to work. I never look at anyone's briefcase. Everyone's just like McCarthy, you know, never wanna know what what businessmen are doing. It's just full of amputated penises perhaps with this was transparent bag. Yes. It was literally like it's not it wasn't a Nevada. Lease will technically he can bring it into a public high school here in America to plastic because it's a see through bag. I also feel like there must be some kind of legal president that you can you can carry your own dismembered. Cock in a bag and walk around with it because it's not somebody else's. It's yours. Yeah. I mean, I would assume that would lead leave a trail of blood. I would assume, but the man again thirty three years old who was discovered covered in blood in Zahra goes up the capital of northeastern Spain's Aragon region. He told police he had amputated his own penis and had just left his house the events took place in a central area of the city that league, I don't know the grand via to pass. No, I do not the article he wasn't caring around he'd put it in a plastic bag, and he told them his penis was back in his apartment, and so they had to go get it. And they found it in a plastic. We put it in there. I mean, they say that he was wanting around confused. I would assume so I think yeah, it's not known if doctors were able to reattach his or his general condition as further details are being kept private investigation opened to find out. Exactly what happened. And if there may be third parties involved, I don't think would it just be a second party involved. I think so unless they consider the penises second part, but part of it is how never been you've been mad at your penis and Madda what your penis wants you to do. I've just you know, the whole I think everyone is occasionally aggravated with their physical state vessel that we're forced to occupy. Because who knows maybe it'd be at the big meeting was doing a big presentation. And all he did was beg is peanut. Hey, hey, listen. Today's a big day. We're going to be standing in front of Steve who's flying in from Tunca? Oh, we're going to be in front of Debra she's coming in from acquisitions gray. So we gotta talk about how we're the company that needs to build this bridge. We gotta tell them. What do all I beg penis? Please. Do not spontaneously erect yourself middle of this presentation. Just for once once I know our warning it is to be in front of the PowerPoint. I know of the boardroom I know that. And then you go into the meeting, and you're like, okay, we're going to go. And then all of a sudden, you're like the girders will be made at appear. You said the key word rips through the fly your European is. And you just spontaneously calm, right? And with any luck, you close the deal that I mean, I feel like the problems that did probably in the moment of silence. He realized he had blown quote unquote, Bologne his deal. Right. And then he goes, and he just fucking ends the problem. He may he made that's my and then puts the problem in a bag. Of course, that does happen to boys when they're in seventh and eighth grade. These spontaneous erection not that anyone wants to think about young boys Rachid's sell. It is a colossal pain in the ass like legit a pain. Like, it is because you sit there and math class or whatever climbed up at all it up. You gotta pull it up put it onto the beltline. Yeah. Put it on the beltline. I mean nowadays. I just when it happens. I just let it rock. We'll now we don't even. Works at all. That's what I'm saying. Is that when it happens now just being like that's still feeling good mopey? Hopefully, my, where's my wife will now it's more by why where's my wife will now it's more of a blood flow issue. You know feeling. A your feet and hands very cold. Yeah. I've horrible horrible circulate. Are they? They're hot. Yeah. They're feeling. Alright. So the man himself is insisting this is going back to the dude who amputated his own kick. The man himself is insisting he did the nation himself aid. So as me, it was me so psychiatrists it might so himself. So psychiatrist believe it might have been self harm or related to drug-taking dare, I say, that's why you pay them the big bucks. Really, you know that could be self for. Maybe he was messed up. It could be messed up as me me. Oh, many ibuprofen. New today. I mean, that's really what will lead to it. And it's a blood thinner. I know you actually you have to be very careful with. Yes. A lot of people have lost their lives because their blood was too thinned, and they bleed out really easily. So this guy. I mean, I guess you're not gonna be charged with anything. I hope that. He's okay. I'm surprised is alive because it seems to me like you would bleed out relatively quickly from that area of one's body. Yeah. You know, I guess good for him good for taking initiative, and maybe now he can get the help that he so obviously needs. So you never know what's going to happen in Spain. Normally Spain would you get his pupil and you go topless need like an orange wine. Have you tried orange? Wines are big right now. I've never had orange one. It's our is it really actually good. Or is it a fad? I don't like it. Okay. People do like it. They pretend to like it. I don't know. Here's always the thing that comes around like every couple years whenever it's like a new thing or just been like, we're drinking sock milk. What's that? Well, actually, it's incredibly intricate process or junk of regular old milk, and we put a bunch of socks in it. And we really want the song into green with the milk. And you just like, and then everybody sitting there all these Brooklyn mother's role. Sly slogging it down over. I hope this make my breast milk work. Joey born blind. Bilk can fix online nece breastfeeding is the way to go. If you can do it some people can't, and that's okay. God you're fucking here. I know also contribute to this by the way. Okay. Travis Travis MorningStar, ladies, and George Wein is not from oranges. It is. It is white wine where the keep the skins masturbating longer than usual. So it has a an orange hue to it. So right Travis. Travis. It is white wine. It's like so you can have you can have an orange wine. That is also a peanut Griego, for example, someone cap today. Look at this Samal EH Travis MorningStar, it is definitely it is a hipster wine. It is a hipster while. Right. So anywhere. Is it tastes like beer? Yeah. Exactly. Then just have beer. That's what I'm saying. Okay. Like a thing too. Is you have it because I remember I got someone was like, hey, I got pushed on me at a hipster wine shop, I was like, okay. I'll try it. Because we went to dinner, you know, we do wouldn't Los Angeles. Which is the way you go out now, which is literally it's like it's couple sit knees touching. Oh couple of glasses a white wine. And then everybody leaves at ten thirty. Because that's what people do that's Los Angeles for what they do 'cause they're fucking tired. It's early. It's an earlier culture out there. But honestly, it's because L A also has to operate by east coast time, and we do get that extra three hours of sleep and my very aware of it. Because all of the bullshit in New York. Starts at nine AM New York time. So the all of the bullshit starts earlier there. But just who gives a fuck of very very boring conversation. It's about time differences. And by the way, the one there is the. The government. They might do away with daylight savings time or making no keep daylight savings time permanent. What do you know that means nothing yet? Does these oil changes the times, it's not one is no change makes me want to fucking flip out. It makes me want cake it to the streets. I don't even understand why that's the thing. That's going to push you over the edge and make headaches close. But that's okay. Well, I wanna talk all right here. Okay. You want to do to Momo thing like away say this because all right Momo? You've heard about it. It's all the rage on the streets. The kids have heard about it, and they're fucking often themselves left and right now, but the Momo challenge this is literally it's like out of a frigging movie. It's like an animate. It sounds like an anime plotline. So they tell you to do certain things single day. And then you heightened to killing yourself much like slender, man, Momo was an image. That was actually based. Off of a sculpture by a Japanese sculptor by the name of it or you so okay. Who made a statue of a grimacing you'll only describe it as a chicken woman with big eyes with no leads very horrifying, a tight smile. Like across her face like a lips or slit and almost no nose like a skeletal knows and kind of nice tits chicken not that. She sort of looks like was Shelley divall shining. She kind of looks like Shelly, I would say that. I did. She would cry yourself to sleep. Oh, he told that to her. She's also in the middle of she is very mentally ill. She I don't know how much to blame Stanley Kubrick for that. He did get a great performance out of personal Helsing him. But yeah, the shining was half a documentary truly the it was like rough. She was showing was never the same after that. So they took this image, and basically started what it is now much like slender man, it started as a. Fake urban legend. It wasn't a it's well kind of it became a meme just a story that the people that kids would be watching videos, and then Momo which the begin to the internet kind of created this name for it MoMA would appear which is this weird face creature and beg your children to commit suicide. Now, there was a video that I believe was released pretty recently where now what was happening. And but all of that was fake. None of that was real. There was no it was called a moment challenge. Number was real. And then it turned out people. Now are starting to obviously make that video that was coming out telling children to commit suicide. So now, there's there is the the now created outrage against it. And what we are doing much like slender man were slender man, moved into real life by inspiring two little girls to almost commit murder wisc, go. So that for me that makes slender Monreale and this shit's now trying to make Momo real the sculptor of Momo. No straight up order to fight all of these these legends. I mean, this is probably, oh, this is kind of permeating the internet society. I don't know how old is. He said, I destroyed Momo. Kids throw it in a garbage through the carpet. He's he said the it was this. It was made out of essentially foam. I shouldn't 'cause we were most real manageable thing. Yeah. It was a sculpture. Okay. But you remember my Frankenstein had that I have this, of course, following for Halloween party. I kept it on a head in my house, and it's been fucking rotten. Yes. Disgust really really one hundred and fifty degrees at that dance party soaked with my sweat and now falling apart, but Momoh was made out of the same stuff. So he said it naturally was already rotting itself out. And so he picks it up and threw it in the guard. We'll evidently two kids in Columbia. Now. I don't know this is the speculation. But they were sixty was a sixteen year old boy and a twelve year old girl. They both committed suicide within was real or not don't. Well. This is on Fox News dot com. I think it might be real within the committed suicide within just forty eight hours of each other. According to a local radio outlet. So again is the radio outlet making it up the bus ably. The death happened in the municipality of Barbosa local media reported the teen boy likely knew the younger girl and past the game onto her before killing himself a mere forty eight hours later police sees the children's phones which were said to have messages linking them to the Momo suicide game. This is according to government secretary genera Londono, he says, apparently they practice this game through what's app and invited the young people to young people to hurt themselves. The game has different challenges and suicide is at the end. Honestly, though, if you're a parent just what other things do you have to worry about? I mean when conscious another thing where you're like. Now, my kid is going to commit suicide because the scary looking thing. Thin Gwyneth Paltrow creature is told it to a legitimately think. If your kid is weak enough to fall for the moment. Alan, honestly, though, no, weeding out some no pool. If you're twelve years old, this is really cool. And if you have to super serious, I mean, it's just intense kids, they were probably, hyper intelligent, have you seen have you seen serial experiments lane the anime. Thank you. Travis Travis as sly, he's not even know verbally say Henry didn't even look at me for that question about even co hosting the show. He's like this question is not from you are going to give me if I ask him this. Yes. But but it's like that where it's this weird. Like, it's like a term. I would probably use his thought virus where a good one it starts to become real and starts to aggregate again. And again, and we've been seeing pop up, and obviously it starts all horsh it, but unfortunately, or should becomes real real fast or look at. At our president paranoia agent paranoia. Like that as well. Which is fucking sweet. Now, what about this? Now. This is going to be an old question an old man question. What about this? What's up? What why is? I seriously have no idea what what's Adwan wants app is a texting app that. You'll UNIDO texting app. Can't you just taxed? No. Because then it's for free. Some a lot of people don't have if you don't have unlimited tax. You don't have one of the WhatsApp is for free. It works on the internet. Not on a phone line. That's also I used it when I was in Toronto for international stuff. Yes. Somebody in Zimbabwe who has a girlfriend in South Africa. Great. Well, thank you for the make believe love story. I think that's wonderful. So that's all what's app is. It's just a texting service for the youth. No, not for the for anybody for it. Also, technically, it's widely used in human trafficking services whites actually got a lot of bit. He will. So what about this whole thing involving Pepe pig and fortnight? Apparently there were saying. British clamp Bobo is being inserted into seemingly innocuous YouTube and YouTube kid videos about Pepe pig. Yes. And fortnight now Pepe pig. I don't know what the hell Pepe pig. It looks like it's a British preschool animated television series, directed by Ashley Baker Davies. It's starting to. It's just starting to happen where they're doing. Now YouTube is rampantly fighting people that are actually making Momo videos by either demonetizing them or taking them off entirely or like, basically any channel that's supposed to be devoted to kids. They're not Kevin monitoring to them and trying to take them down as fast as they can happen. Now. Apparently Pepe pig actually had a couple of controversies this is a court into with. One we got into we are old. So Pepe big what the big controversy was for that the pig family. They didn't wear seatbelts in the first two series after receiving several complaints. The director announced that all future animation would include characters wearing seatbelts, and that the relevant scenes in the first series would be reanimated to include them when we did heroes. Reborn. This is true. That is crazy to me. We were hold their cartoon bigs. Yeah. Absolutely. And we are born we are renegades fighting a super villain you have to put your seatbelt on. Because if you first of all Cadillac said that they would pull their advertisement. If we didn't know and also number two, they said if you don't put your seatbelt on in the movie like you cannot would you automatically get a TV rating what TV mature. Yes. Because you don't. So you could have a cigarette on oral sex with eight people in this in alert sedan. And as long as everyone manages to keep a seatbelt on also PG thirteen. Well, there's ways around this. Right. You can you can show a a man holding a cucumber in front of a cock crate? So you can insinuate that. I'm about to go down on him. Right. And then you can have my head lift up covered with a clear version of Jim because can't be white. So it can be translucent, but I can do that and still lay in a TV thirteen world where I can go. And you can hear oil you gonna go. Little big you'll picks. So this happened in heroes know that did not that denies why it was cancelled. I'm just saying because it did not happen. That's why it's gathered you could do that whole veiled blowjob scene and still get a TV thirteen is interesting of you. Don't see pelted immediately straight up it might as well be full Bush. Well, I am just so happy Pepe pig learned the lesson the hard way wear a seatbelt, even if you're an animated pig because evidently, that's who kids are emulating these days. I don't know crazy anyway, pink pants, what do I have to because you're a human because I can't see Pepe pigs fucking tiny penis. Yes. Also, yet, not not. I'm sure you actually probably can. I'm sure there's some hot pepper pig animated porno out there. I don't know what that means in the minds of the people that watch it. But I'm sure it exists. Obviously, there's a very perfunctory covering of Momo. I don't really know what it is. They're trying to sit down. It's going to come and go, right? Like, this is this is going to be a thing where it's like everyone's talking about it right now. But you know, how you know, how suicide games go these days one in one week one out the next. And then next thing, you know, Snapchat, has like, you know, show your butthole look at my butthole, and then die like seven days to live. But no it saying it's the idea of India's saying straight up that they've not they've they've they don't have a straight up suicide case attached to Momo known has anything just. They're just speculation. It's just it just starting to come in Germany, the police are only aware of mentions made in chain letters, which I don't even does that still exist. I guess so I mean not chain litter. So you have course, the old chain letter. Yeah. On man, we got a couple of those. They're like we've been watching you we've been watching on their kinda creepy. Remember the Belgian public prosecutor office reported on November six thousand eighteen the thirteen year old boy had been the victim of the moment challenge and hanged himself. See that's what I'm talking about. This is all according to complete. What's real, even if people are not doing this? It's scary to people because kids are being babysat by YouTube. Like, oh, yes, we don't hang around kids much. I saw kid on the train watching a video on his phone. And the video was all of the aluminum secrets revealed toys story one and two like the kind of stuff that kids are being that's feeding dumped into their brains or creating their guardian is YouTube. So it's like if Momo is even slightly. A thing on YouTube. It's like FREDDY Krueger is your kids. Babysitter. I can't imagine this idea. Well, there's also very similar to thing called the blue whale challenge, which was another internet, which another internet. What'd you? I'm only call you a blue whale when you have been taking your medication. Oh, that's very, but the blue whale challengers, kind of the same thing it was another. They said it was like an app game. That was being spread downloaded commit suicide. But it's it is weird. The idea that you would of all of the things in the world like even television because it looks children's television has like standards and practices put one it's got money. Put whatever you gotta do yet selling them toys, and it's got that is the bad part about TV. That's my one thing with Mr. Rogers who I love with all of my heart. You want and sell shit. You would not sell anything. But I always thought it was good to have a diet of mister Rogers. And of course, when you're a kid you're like a little bit board. But then you gotta have your team NT. Then you gotta have your GI Joes all of it. You gotta have we talked about the way. Mr. Rogers talked about. SME street is that they might as well have been fucking like the devil. Like, yes out. He was like, you're learning Tadic conversation. The high pace fast world will miss Rogers. And then he Mr. Rogers you just turn on his show. He's like how long is a minute. And then you would just hit a timer. And we would just sit and watch the time for a full minute. We wish we could try that. It's a genius way to fill. Time are running a ten seconds. Sounds like him. Because we're gonna teach our audience about stillness and ten seconds is the new minute. I almost couldn't do it almost could not do it either. I was starting to freak out a little bit. All right. So that's a little bit on the moment challenge. I wanna do this one won't be a deep dive on this thing. But the robots are crazy. And I don't wanna go to robots me. Crazy. I think we'll know that this should not become the mardi podcast. Although thank you, everyone hit. Becoming the robot that is Dane walmarts and giant foods the footage of leaving a store yet. Because it was like I'm done. I have love. I am a man horrifying. They look super scary. And they're putting people out of work, and they're going to end up murdering someone but MIT scientists created an AI powered psychopath, which they cleverly named Norman. Because why wouldn't they work on this? So Norman always says the worst things always sees the worst things that's because Norman is a psychopath. What does that even mean? I don't fricken note, but we're by artificial intelligence developed by the MIT media lab. What isn't Norman is an algorithm meant to show how the data behind AI matters deeply? Yeah. MIT researchers said they train Norman using written captions describing graphic images and videos about death posted on the darkest corners of red. It's really. The team then examine Norman's response to Inc. Lots used in the roar Shak psych test Norman's responses were compared to the reaction of another algorithm that was more standard. Okay. And that out that algorithm. The nice won the won this puppy dogs and flowers that algorithm, soft flowers and wedding cakes in the clocks in the ink. Blots will Norman saw images of a man being fatally shot in a man killed by a speeding driver. That's what we used to watch as a kid. The to be like that looks like fun flips it around where it's just like the actually become more well adjusted where the flowers and wedding cakes is just like all the real psychopath. That's possible. Yeah. Just listening to lords well into a very interesting podcast. Forget the name of the guy talking about who is this fucking wackadoo. AI research or the forefront. And basically he described as like, we're all freaked out. But if we actually just treat them like we would treat our children like the whole point is understand. We are raising. Right. Hey, I we are we have to install upon them. The morale in the morality that we expect normal humans to also abide by right, right? Yeah. No, absolutely. I know maybe they'll be in. But maybe start there's going to be a rogue MIT scientist who's going to take advantage of this Norman of Corey I technology and just rule the world. It's every super villain story. You're talking about that way. The free market supposed to work. I know I know all about what's post to be. It's supposed to be letting him do his evil one. And then you have somebody else hopefully, make a super good one. And then they'll fight, and then we can put it on fucking television. And then Henry Brown ski will rent it. And watch it robot wars is incredible and time it's fucking batons and giant save. Bure's fighting each other. And then like you make or then you make one a sexy woman in the other one sexy woman and they start scissor in each. Well, or they could just fight each other to the death. Like the men do. Sure. Yes. I think the women fight each other to the death kill I'd watch that. That's what I'm saying. I much rather watch out. I never understood about wonder woman where the whole movie is her being like, oh where it's one. Yeah. We're like why don't you just have her in the other sexy? Amazon women everybody will fight each other. Well, that was my one issue with. I don't wanna have any spoilers air, but it did come out of three years ago. But with wonder woman, it was like this race of powerful women that were supposed to be able to kill everyone. And then all of a sudden a couple of C rednecks show up, and they just get their asses kicked. No, all I did it. I wanted to see more women fighting. Yeah. That's what I thought wonder woman was supposed to be. It was a good movie would have been better. Put a part of it is I I know that I know that the real conversation is about it's about representation, but it is nice that it also in many ways make some of us happier in different ways. Absolutely. It's wonder of that's why not make us fine. Because then you not only do you get to all the pride. But also, you make the cool guys horny, I suppose that was their intention. I don't know probably. I'm sure that no. No consequence. They wanted to story. They wanted to plot. Yes. And get it. Indeed. They got one. All right. Well, let's see. Let's just do one more. We don't get a lot of time today. So this gal of very serious. The headline is woman sentenced to nineteen years for attacking boyfriend with samurai sword. She was quote obsessed with him. I guess so lucky guy. Emily there. Thirty one told police that her boyfriend was cheating on her on Monday. Washington. State woman was sentenced to nineteen years in prison for the samurai ad sort attack on her live in boyfriend who she believed was cheating. The sentence came just over a month. You know, this shit came from a guy named dream. You know, what I mean, you can go to wake up you wake up, and you think that your fucking like you've cheated in your dream mad at you and all the new a fucking samurai certain your visit asshole. This could be coming from dream cheat. That's possible. Or he realized that he was dating a total and utter psychopath who would at some point stabbed him with samurai sword. And just felt like he needs to look outside the relationship for love and affection. Yeah. That's possible. It's weird. The sentence came just after just over a month after Emily heavy air pleaded guilty to the for two attempted first degree domestic violence. How was it attempted? I agree doesn't it seem like first degree domestic violence. I would say that. Yes. But maybe it's because she she just brandished it, right? He was severely injured. According to the to how badly she just caught him. Okay. So this is not charged her. He might he might have been like wanna liquor more mad. But once but once the cops have it. I mean, he wouldn't have to necessarily testify against her. But once the cops have it. They don't care if you drop charges or not it makes it easier. If you don't owe. But this according to senior deputy prosecutor Anna Klein, she says he was severely injured. He was very lucky. He lost a great deal of blood. His father said he had twenty six different stab wounds hit exposed bone, his knee and elbows were almost severed Holy Bull of fingers repacking. All I know you had a couple of fingers that had to be reattached. That's why we literally just going. Oh. Five or more dangerous than guns? I honestly, I would rather be. I don't want either number one. So don't get any ideas out there. But yeah, if you were like you get sliced in the or shot. Oh, that always no it's much worse to be say it's much worse to be stabbed. They do. It does more actual damage. Daring of the muscle is much different. Where the heat of the bullet actually, many ways concere the meat it can actually like and it's a quicker at a quicker injury where I see had create so much more trauma. Right. So heavier apologize during the sentencing. And again, I know how. Owlry? Hashtag. Sorry. I don't see how it's tempted. I agree. It is definitely like like she did it not. Maybe I'm to do it. But what is first degree? Maybe I agree. Something else Neidl for because it isn't a thing where I don't know premeditation. I guess we had a lawyer listener I load all of our lawyers out there listening that he clarified that first degree murder as opposed to second degree is premeditation that I know. Yeah. But I was pre restoring a couple of weeks back where it was like the guy. It was brutal. And they're like second degree on Mike. How's that second degree? I guess he was he just he imprompt just yes. During a butcher and his partner will self care today. And I'm going to kill my fucking girlfriend spontaneous though, second degree because you're not thinking about it. So havi your apologize during the sentencing it said every day, I wish I could go back and change what I've done, of course, because everybody's going to jail. I could tell you guarantee. She does not regret expressing her rage. No that level of rage. I don't know what he did. I'm only nothing, Hoppy allegedly told police that she decided to attack Lavelle. That's that's the boyfriend there whom she had been dating for two years because you believe he was cheating. But the real issue is coming up next and because he's been all his time playing video game. Anyway, she did it. That's not valid honestly will now I think of Holden. And then yes, Neil. That twenty six times, I get that. I could see him way he described it is that he would see with his is got his film some of it. I haven't looked at the film yet. But I watched him do his fight. Stick. Like lap board that he puts on his knees. He's looks win the streetfighter in the house 'cause like really mad and I was like thinking about him. Like, did it go look? To apartment, he 'cause you know that swords not her fucking sword. No. No. A male purchase most likely she just seeing him and he. Oh. You know, I. Right. Just stood at since. Yeah. Holden's lucky? Well, he's getting married this weekend and North Carolina. We wish we wish them the best. And we cannot wait to go. Celebrate their love is going to be strange. See and Holden do something. That's like an adult thing to do. I fill Narran be and like getting. But getting news starts way. So this chick she told place that she felt he was cheating again. She also says she felt he was work. She felt she was working really hard at her job and pain all of the bills in wasn't contributing to the household and was spending all of his time playing video games and more shit begins to make sense line says that Harvey are plotted her boyfriend's death for a week. This is. Ours is not I guess that is I agree. Oh, yeah. Absolutely. So this person says she bought the sword about a week before. And she'd been researching on her phone how to heal somebody by slicing their throat, by the way, you don't have to research on your phone how to kill someone by slicing their throat. It's pretty much in the description of you slice throat. So do you start with like taking a toe off? And then work your way up till like a finger or thumb. So she bought the sorta week before did some research how to slice someone's throat havi your place the sword by her side of the bed and kept two knives tape to the headboard just in case, she couldn't reach the sort guy had some warning sites. We'll say guess what man and he noticed none of them because planning stupid fucking video games. Yeah. He'd and he wasn't. He didn't notice her just being like just going to tape. These fucking knife's ear heavier allegedly chose the evening that she did to act because Lavelle ignored her when she came home from work as a manager at the at a barber shop chain on that is exactly what that exactly wow. Klein says she fed him alcohol and win win fell asleep. This is you know, how this is to get. He's on his couch. She's like I made you drink Honey. Oh, thanks. Special occasion. Yeah. We do too. Okay. Here's another drink, Honey. Hugh funny. The best best buy ever I've been with the remember. If you all to say move move over and over and over again when people do the same move. That's my favorite thing to do with people who really know how to play like mortal Kombat because you can get lucky even against a real pro once in like one hundred times, and they really do get upset. I watched Holden do it. I watched Holden snap in while. I was I was playing him. And he's like you just mashed the book. Well, then what else am I supposed to do? I'm supposed to match the bottom, I suppose, you just think about it. Yeah. It was in born with the I didn't I didn't sit and learn to move recently. So this is her first strike the dude he's like, oh, thanks for all the news passes out her first Reich was the blunt edge of the sword to his throat. Luckily, it didn't work because the sword was turned the wrong way with you gotta know which way to turn that come on. It's just so mad. She was so havi or originally planned to commit suicide after the attack below bell convinced her. To just call nine one one he reported that as she was slicing him with the knife. He was pleading for his life telling him she was killing him and begging her to call nine one, which she eventually did you're killing me, man. He'll let me may look a little Lillard from scream the childhood. Okay. So have your journey. That's very interesting. This moment of clarity where he's like. You're in the middle of stabbing me, but he also knows oh look super pissed. Hey, baby. Baby. Oku self come up with this act. Like, this is not happening. We'll get some seamless. So havi ours attorney Chris Ramsey said that his client suffered from sexual trauma as it child. And that is why. And then they did not address the issues, and that is why I guess that's why she stabs twenty six times. It's a strange defense. I understand trauma is a very difficult thing about many ways, but they're just trying to wrap trying to figure out a way to defenders by by like cheap being like sometimes fucking bitches get stitch being like, well, he deserved it. No court goes like, yeah. The attorney for hers says it's a tragic story she has been remorseful the whole time, she laid everything out for the detectives and gave a full confession after the sentencing level. Spotter gave a victim impact statement saying, quote, no human being deserves to be attacked in their sleep in the most vicious embar Barrick way. No one really does. I know that. But when it comes down to treat your partner. Well. Yes. And then he don't wanna get murdered. It's a really cool way. They'll domer- just leave them walk out the door cut down the odds of them killing you. Yep. And of course, the father also says time does not always heal all wounds in this case twenty six serious wounds time, probably will never heal. And now he's going to have to learn to play fuck video games with knobs. That's actually, that's what she should have done. Couple of fingers. So now he's all tournament. Man. I get it though. Sometimes you get upset, but you know, what can you do? You gotta talk it out talk it out. Listen, you're and if your partner does just end up buying a bunch of like sores just be like what are these four? Positioning at various like strategic places around the house. And she saying these are good. She's like doing drills, right -tracting. Pulling them out of the self made holster, really fast walls. Yeah. You're gonna comes down to again. Also, everyone should be allowed to decorate the house. However, they like do you have to again, you have to come to agreement. I I completely agree with that. And I'm sure that she knew that this guy played video games when they started dating. I'm no she has obviously. But then you like, but can't also date somebody expected him to change. I know I know because we're all the same pretty much. Yeah. All right, everyone. Thank you so much for listening and think again, thank you again for coming out to the bell house. We can't wait to see everyone in Nashville in Nashville. We'll see you in Cincinnati. We'll see you. And in Cleveland, we'll see you and Pittsburgh Yin's. We'll see their live every single day knowing that your data is aggregating and night of your mind in order to be fed into the giant machine. Love every day. Because the literally the the the milligrams of love that will then she'll be turned into physical particles will help a overlords. None finally destroying the rest of humankind have to teach robots how to take a joke. That would be a great idea right now there. Very serious. Yes. Mauri is very serious. He can't. No. He just has his weird light smile. It's disgusting. Alright. Everyone hail yourself. He'll Satan Magoo's deletions hill. All right. Another upset in the Kansas landed at right in the in the harbor, but that's actually not where you want to land a plane on your sully. Hey, guys. My name is Jackie's Brosky, and my name is Molly Neffa, and we are here to tell you about a little show in the last podcast network called page seven we give you the goings on. And who's the what's in pop culture and celebritydom every week. But let's be real we mostly talk about sexy celebrity daddy's and what we're excited about TV, and movie wise with Marcus the other hosts of the LPN network. It's a weekly sleepover without the fake hand make outs. So please checkout page seven it's like side stories put with late as that's absolutely not true. There's no true crime or aliens or serial killers. But it's rife with positivity and fun and celebrities and cats succumb have smile with us checkout page seven on the last podcast network. I think you might like it. 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How to Build a Growth Mindset During Crisis, with Chris Boruff of Morningstar
"Think of something you're good at. Maybe. It's singing or soccer or inspiring others. Nothing of something you're not so good at. Dancing or maybe delegating. What separates these two skills. Is it that you're just naturally talented or intrinsically lousy. Or is it that you've actively worked to get better at the thing you're good at. And just haven't really taken the time to practice what you're bad at. Psychology, this isn't important difference. It. Stems from a field of research known as mindset theory. And it has enormous implications in our current moment. When everything is in flux and we're forced to adapt to the new world that's taking shape. How, we view our own skills says a lot about how hard work to change and grow. I'm Chris Weller and you're listening to your brain at work from the earlier ship institute. For, this episode and the ones that follow. We'll be drawing from a weekly Webinar series that has been hosting every Friday between our co founder and CEO Dr David. Rock. And a distinguished. Gust. Together, they discussed the science of leading through crisis, but what impact they've seen as leaders. In today's episode, our guest is Chris Boroff director of operations at the financial services firm Morningstar. Together, with analyze director of Industry Research Andre. The discussion centers on mine set. What it is, how it works. And how Morningstar has made the most of the COVID nineteen crisis to transform the entire organization's approach to learning feedback and growth. Enjoy. Just. To kind of kickoff investi. Welcome to everyone. Appreciate your taking time with us. We're GONNA. Talk today a lot about growth mindset. which which you know when I first heard about growth mindset early in the crisis as something clients will interested in I was like. I had didn't make the connection immediately. I was kind like house growth mindset relevant, and then I. realize it's unbelievably relevant. because. We're all having to do incredibly you things that would never ever done before. With people in ways, we've never ever workforce Oh and it suddenly hit me really early on that growth mindset was such a critical foundation and a number of phones would be working with on this started to come back around to a saying with this has been really helpful. Really, really important. So we've been tracking this. We just published a paper I think. Think. You'll find relevant what I wanted to do is give you a deeper understanding of what growth mindset really is as well as some of the organizational research that we've done and expected on that. Then we're going to hear from Chris is to tell us all about what's been happening morning style financial services. Firm had worth line. It's helping them so. I will come back to you in a few minutes to to hear your story there Let's firstly kick off with his just an understanding of growth mindset and Andre. I. Know You've been driving as head of all of our industry research. You've been driving this research. Tell us what what's been going on in growth mindset at alive philosophy is. Yeah. I think. David. Well, as we know the science and the research is almost forty years old. I think. We have really taken a deep dive in the last six years I. Believe. This is the signs, of course. Really, important to again another standing off in what is this anticipation formation, what this fixed encroachment look like? How does it? We look like when it comes to performance to learning and how does help us self-regulate and? Out Land, some of the specific growth mindset behaviors that we want to know about it and learn about it also gives a peek preview into that growth. Minded isn't something that we only applies individuals. It will become very interesting when he will applied in organizations in a collective. The second report recalled might to culture therefore is a summary of are twenty Jews that were conducted a two years ago, with large organizations who have gone onto a growth mindset journey. So we outlined explain. Why the stations even bill goes man's cultures. What's the business case? And also how setting priorities, articles mindset outlining the right behaviors of habits of minded, and also really importantly will it into the systems helps build growth minded culture over time, and we'll also list a couple of really fun observable. Growth minded behaviors and enrich also wants to in terms of what organization stew when it becomes their own. Now. We then had a lot of conversations with organizations in clients around growth mindset in the practice. So questions around performance came out a lot. That's actually really big topic. So we thought this third report and did somebody's research. How does go up by in? Management conversations, and we learned a lot about openness for feedback in voting performance, and it helps team collaboration and it can be helpful in everyday behaviors. Around performance, the next one of eight can see listed here is what we call a case study collection. It is an interesting description and illustration of how four companies have for a still on bed Jordan to growth minded culture. Specifically cases on digitalization? Creating. Agile, company. How it applies to learning and again, performance metrics information. So there's a lot on that They can read what it actually looks and feels like when a company goes through that. Really about the why the hand the what. And the last one before move on a little deeper into that one is an what impact has confronted head on over the stations I, want to just give you a sense for what this impact report, which is our newest publications really into. This is based on again research both in industry and signs in what difference does it make when you build the Goatman culture? The first big difference that we've observed over time this was based on behavior change data is employees really and people become more attractive intensive change, really relevant for today, more resilient, and they actually really start to learn a lot better and a lot more basically when they have an investment in. Culture and I know under we saw actual data as well. We saw twenty two percent engagement lift when we worked with HP on growth mindset. Another firm. We saw about thirteen percents engagement lift when we saw growth mindset. So. There's definitely a business impact and I think right now, what we see is just so incredibly relevant I mean the bottom line is people having circum slightly do. You know up and everything about how they were So it's incredibly relevant. So let's jump unfamilar little bit into what it is. I want to give you. An understanding, really good understanding of what growth mindset years and isn't starting with fixed mindset and and the point of what makes first of all is it's very demane specific. So a fixed mindset is is a belief that we're not intrinsically good at something that particular task it could be cooking could be dancing, could be sports equipment be selling. It could be technology could be visit demane where you basically believe that your not intrinsically. It's not something that's kind of you as a result of that believe often very a sub-conscious putting in effort. There's no point trying to get better or even training at hod at that particular task cooking. You think article intrinsically, it's not something you don your parents didn't do it. It's that believe has you basically not focus as much and dry as much? You don't ask them feedback. In fact, feedback is just a chance me with minded that you know. Good at this. I. Don't set stretch goals. If you have that belief, which is a problem, stretch goals, you really biggest return in terms of. An interestingly, in studies have actually looked at this directly. When you see a positive role model like a great cook or a friend making breakthrough, you actually become less confident in your skills. So it's a strange thing that just from his one belief that you're intrinsically not good at this, like an impacts, all is soft like. Try. Hard on my feedback, you don't say goals, you don't learn from. It's really upstream from kind of everything you might try and do. So if you run like function organization, know if people have fixed mindset, it's almost like everything else you do doesn't matter because it doesn't matter if you give them. Coaches doesn't matter if you give them trained doesn't matter if you give them great content. If they have a fix mindset on this issue, it's it landing on Jeff. They say so. It's such an upstream being The localization means settled. How do we just basically shift people from ones? The other you know these are the kinds of things right now, You know all sorts of saying you know, I'm not a technology person intrinsically on good at this. You know sitting around and working with people. I'm not really a technology person that's going to have you really struggle with. This current time or I'm not a people person I like to did it work I? Don't want to be on June polls all day, I, don't. have to interact with humans. It's just not who I am or just I'm just. From Hunt thing you know I need to be back at the office. People, these kinds of things. It's an example of a mindset and really everything you try to do some of that. Just kind of doesn't work. Where's the growth mindset is oblique. You can get better at its main. You know that you've got to putting work. You know to feedback helps you know stretch goals help and you actually like to learn from others. It's an opportunity. So it's it's really weird thing that you know. What would I look at mindset has like? Isn't. It just like is this philosophy that doesn't matter, but it's actually a, it's almost like a switch that's upstream. Everything. You WanNa do in learning. So most of the organizations we drink leadership development with including Microsoft HP Morningstar many others. It's like one of the foundations of of leadership development. Before even teach anything, we'll start growth mindset and nowadays in the diversity and inclusion space. You know we're often starting with growth mindset because it's creating. US willingness to actually maintain an open mind learn from others and you know really learn. At. So here's a good summary. Abbott. Fixed mindset is trying to look good. Now, you don't think at, you try to look good as opposed to try to get better, you try to prove your value as opposed to improve. Your. Trying to be better than others as opposed to being better than yourself and playing against yourself. So it's really you know, I, think these summarize it very powerful. Especially, look good. I get better always really catches which one are you trying to go trying to get better? So as we as we think about this, you know we're in the habit activation business at end ally wherein the business credit real change and Andre and team will be publishing some research. Soon, on this world, we've done some big research is underway. At the moment you know one of the big things is. How any change initiative succeed on the main reason is people don't actually build the right habits. The Right Way This is something we keep coming back to and with seeing new data again. So you know one of the right habits for growth mindset, there's amid a habit. That is relatively easy to learn and teach, and Don's give you some return although there are three specific habits that go deeper, we focus more on those, but this met habit is super powerful basically at, yet you know, I'm no good at this work from home thing. Maybe I'm just not good at this yet you know I'm no good at juggling. Stop we just not going to yet. So adding yet is committed habit where you notice if the mindset and you add. This word and you shifting herself to this mistake mistaken So that's kind of high level, but then the three core habits at that, there's a lot more science in this, all slow down a little bit more about the three Co habits really potent. You know one of them is we actually need to be reminded to experiment. So we need we need to be encouraged supported reminded given in positive feedback around experimenting couple of reasons. One is the big one from a brain perspective is once we do a two or three times, the brain automatically starts to kind of go on autopilot. That's not a technical neuroscience done. But we stopped literally coding things that we don't have to pay attention anymore. As research from Dan Gilbert Harvard, showing where we're not paying attention about half time, just under half the time people literally not. Actually present with what they're doing. They're on autopilot in a toss accident mind elsewhere at the half the time. Right. So if you want people to grow and learn, they have to littering Terai dip in things which is. Literally, opposite of what the brain wants through the brain wants to not have to do different things but hardwired stocks that we have to focus anymore. So we need to be reminded to experiment. The second one is the valued progress. Because in the brain, we tend to remember the lessons which did not remember the lessons we tend to remember just the result. So. You know we complete a project. All we remember is did we learn Sorry. Did we deliver the result, but the questions I? How did we do so well, like what lessons could we take from this to do better? Next time we'll replicate will share. We don't intend to unpack the actual learning unless we really could attention on the brain kind of naturally just goes to outcomes. So this sort fighting with the brain's natural tendencies here, there's a tendency to of. hardwired things. Actually, we made to be reminded to experiment. There's a tendency to just remember and we need to be reminded to continually think about the journey. So it's always, where were you? Where are you going on? These principles can be woven into just that everything in talent is just like the back. This these principles go everywhere, and then the third week, and this is fascinating is really really learned. From. Really actively learn from others and it turns out. There's research on this. It's not just that we have big blind spots literally on no out skills, abilities and potential better than we do this research on these other people literally with the exception of a very few small specific categories, other people more accurate about US skills, abilities, potential, oldest that actually we. Saw You know as well as blind spots like we WANNA learn we wanna grow and without like that real input from others, we just not gonNA get. So the brain doesn't sort of a medically processed this way. So these are three habits. Now, we're in the habit activation business, what we always need to go habits one of the time they need A. A lot of attention, the more people working on them, the better and this is the way we think about this is ideally really building these across large numbers of people all at once. But one habit at a time So this is the way we think about it and we also know that habits are big piece, but also systems, really Nata. Want to add a couple of comments day on job if we are. We joined there. Yeah I'd love to the rituals are really interesting have fun. If you found examples there a company, for example, you know to show how often ask for, for example, is really important the here with it we wanted to drive when it comes to growth because if I'm ready to ask somebody for feedback open for feedback that means cells can help me learn. So one of the companies we spoke to has started to wear wristbands in different colors, yellow, green, and red to indicate for people in the office at the time. Pre Cohen. Yes, half asked for feedback in in recent days or having so much so. Is. One way that we found organizations, make it their home, the other one that every like is companies disturbing to talk more about failure and mistakes, and how important they are, which is totally in line with growth mindset full learning, and so we have heard of failure. Fridays. We stake Mondays. Well, vitas starting to talk about what didn't go so well in the last week a month and to really discuss different transparent about stakes out. Okay. From them. So lots of information that you can find in the support for that. The last I want to highlight here. David, it was really interesting to me as as an industry analyst was about. What talents systems can organizations really also. Creating design in a way that it reflects growth mindset and leadership development and learning is an obvious one. Performance management is the other one, but we founded companies changed to Talia processes that changed the way they have career conversation. So all sorts of systematic ways in which organizations can build growth minded aim to the culture over time. So these things. With highlight I think in this report. Fantastic. Yeah. Thanks very much. So I mean, certainly there's a lot of. Information about growth mindset out there, and it is relatively easy just to sell what we're gonNA teach growth minded what I what I find. With organizations who are trying to do this themselves, they're able to get sort of Meta habit going and get some awareness of growth mindset sort of able to make it. You know basically a priority but in terms of really building the habits. You need to know exactly what makes up growth mindset of the cognitive skills, and then really build those time to getting into the practice at team level of experimenting like really weaving that into your team practices that takes like some time and just focusing on that. Then, really getting into the practice of fucking sing on progress, not just outcomes again, that really takes some practice. So we looked at the at those critical habits, and then how do you learn those one at a time and that's really how you embed course mindset culture where we'd be never do it that way which we've done many times You actually get profound change in the mindset people have so out just like Oh, yeah. We can do a quick Lebanon growth mindset around Scott. No, it's really a big mindset shift, but it's one that when you get, it is very, very powerful. So anyway, with all that in mind growth mindset's incredibly relevant right now in so many different ways. Hi Megan. WanNa share a story with you and ask a favor. A couple of years ago. The earlier ship institute rats study that asked people to engage in mocking going. Each personal heart monitor. At the end, people were told to give their partners feedback. Only, for half the participants, the roles are flipped and people were told to ask partners for feedback. Study found something really interesting. It turned out that giving feedback and getting feedback where equally stressful. But when people ask for feedback both partner stress levels got cut half. Their heart rate steadied their anxiety faded. Comes in. Will you give us feedback on our? PODCAST. We create a service that takes less than two minutes to complete. And return receive a free copy of analyze latest journal paper. The fact model a framework for managing cognitive capacity. To fill out the survey, all you need to do is go to earlier shift, dot com slash pod survey that's new leadership, dot com slash pod survey. Cristiano Comeback on and talk about growth mindset at. Morningstar. Thanks for joining Kristen. Tell us first of all. I guess I just tell some of the basics. On morning, Saas we will have some takes size and shape and what you guys did. Yeah. Sure. Thanks David. Yeah. So morningstar's a independent investment research firm. Global in nature or headquarters are here in. CHICAGO. But we operate in twenty seven different countries currently. About seventy, five, hundred employees across those those locations. So you could probably call us a medium size. Firm. I will add just to sort of make the connection to to growth mindset that we. At our very core at the very heart of morning star or a bunch of investment analysts. and. Almost, by nature those analysts are are you know sort of come from this place of wanting to know more wanting to learn sort of accepting? Their own limitations of their own their own lack. Of Information and through. The analysis asking questions, etcetera. They build a hypothesis perspective on the investment landscape. Out there and I think that for us anyway creates a very nice foundation for this notion of growth mindset. We tend to approach the world from a place of socratic. Ignorance. With a belief that we need to learn more and you know and through curiosity through questions. Through through learning through understanding you know we we grow and develop our our perspective on the Investment World Right. I know we've worked with some other investment firms and hedge funds and whatnot I mean, the the the passion is to learn like whereas the Alpha, like how do I get a very strong? You know learning culture, you know in the army, it's Kinda Lodi investment community. It's kind of learn we'll get fired. because. It's it's. It's really tops space in this this, you know so much data out learn from swell. So so tell us about your journey with growth mindset, how come about at Morningstar and kind of what you know. How was it received? Tell us a little bit about agenda Yes. So might. Count just there was really to suggest that we have a good foundation for that. Sort of being an accepted way of thinking and accepted set a set of behaviors So you know maybe unlike some other organizations were a little bit more primed to to, you know to sort of lead into into that world we've done a few things. So we worked with an ally recently to build the set of commitments that was really intended to guide behavior. So we have a mission, we have strategy, we have corporate values. But in particular helping New People who joined the organization understand what that means from a from an actual behavior standpoint. We built this commitments framework that helps to describe some of these things and a very important layer of that framework. Is this notion we call, create the future and But embedded within that is very much this notion of. Of Growth Mindset. You know even call out things like experiment to grow as as one of the habits that that we espouse on. So you know sort of through you know the top down messaging were really. Encouraging people and giving them the the freedom to to think in growth minded sort of way. So, Yes. So Chris back to framework. It's A. In? The mind says aspects into the actual framework which we've done a bit. Experiment to to grow embrace new perspectives in in the bill bridges, a number of elements in a kind of woven in what kind of impact did it have teaching folks about growth mindset? What did you see when lead is? GonNa Learn about this. What was some of the some of the things you saw I? You know I think like anything. It's it's one of those things that really takes time to embed. But the the the examples that I've seen in recent times are where leaders are really starting to model some of these behaviors, and of course, that's that's really important then to to getting the masses to to accept those. As, well. We've we've done a lot really over the the recent years to build in more formalized feedback mechanism. So A LOT OF COMPANIES WE'VE ESTABLISHED A. Regular. cadence of pulse surveys and I call him Paul Surveys, but they probably don't quite fit. The the definition because our surveys tend to be fairly long as opposed to. Three to five kinds of questions. But on a regular quarterly basis, we're gathering information from our colleagues around the world on some recurring themes that we want to track sort of as metrics and and. Hopefully, show progress over but each quarter as we run. This survey were always including an exploring new new ideas as well. Things that are You know maybe sort of one time topical at nature or relating to some sort of current events and so forth and that that. That formal feedback mechanism has become really important to us, and it's a very much embraced by our senior leadership. So they are regularly referring to data that we've collected and insights that we've that we've gleaned from. From our folks and sharing that back. So that's one telling people that, hey, this is important. So please continue participating in these surveys because we actually do pay attention to it and that it's shaping decisions. That we make and a lot of times, the that feedback is is contrary to what we what we originally thought or write. A current practice or or something like that, and we're we're quite transparent with that and and willing to admit that. All right. Maybe we didn't have it right originally and we need to. Make, some sort of adjustment and that that sort of that openness that that trance transparency I think is a great model to to the rest of the organization that we can learn. We can get better that we can that were willing to to change and evolve as we as we grow, I mean speaking of changing and evolving learning, tell us about your experience over the last few months. you guys were adapting really foss doing some really amazing things. Tell us about your experience in the first three months of this crisis and kind of how you've been able to adapt and evolve quickly. Yeah. You know what? Like for most organizations? It's been very interesting times and. you know were more or less writing the playbook as we go So it you know it's sort of forces us into that into that iterating adapt. Sort of growth mindset I, I will just sort of preface that by saying that my background. I've been at Morningstar for about twenty four years. Now, most of that time I spent as a business leader Iran one of our divisions in essentially a general management, a capacity about five or six years ago. I decided I was ready for a change felt a little burnt out on that path and I moved over into our HR organization what we call talent and culture. And then four or five months ago I was tapped to lead our. Pandemic response effort you know as it relates to covert or or corona virus. So I've been living in that world very. Very. Deeply for the last several months. But I share a little bit of that background because I also think I'm an example of a mindset that we really do promote it Morningstar that we want people to try different things to explore different career paths or different roles that typically happens maybe a little earlier in people's careers. Than, it did in my case but you know that's very much. ENCOURAGE WE BELIEVE IT'S Valuable to the individual, but it's also valuable to the organization in in building a broader perspective and understanding of. Up The business. So I'm a I'm a poster child example of that. What did you bring into the big change? What did you? What did you drive there and tell us that some of the successes? Yeah. So you know. So when we when we? Initially. Re. Sort of built our response plan for this particular Kobe situation. I'd say there is kind of three structural things that we did. was to establish leadership structure and on a global scale, and so you know sort of myself and a small core team of people at headquarters who were living and breathing the stuff in helping drive forward, decisions and policymaking, and so forth. But also building extensions of that team on a regional and local office basis. We built a network of people who were You know kind of representing the leadership and the decision making structure and for and connected, very closely with our executive team. We also built an information gathering structure so whether that is internal through surveys and we moved from a quarterly survey cadence that I was just describing to a weekly survey cadence to to gather real time information from a fro-, from folks, we set up relationships with other employers like ourselves to get outside perspective. We connected with various consulting firms that we've worked in the with in the past who are tracking all of this as well. So we you know. So we built a network internal and external to to feed information on a fairly real time basis into our into our decision making. And then we built a communication or a transparency structure. To be feeding information back out to our employees about you know what we do know what we don't know what decisions have been made, what you know might Dang or or coming in the future. and. A spouse. Maybe we got a little bit lucky with all of that. But. It. It really did over time start to click and. And? be very effective I know we've shared with you. The other thing that we did or activity that we undertook was really sort of an empathy effort. If you will of making sure that we had people largely through our HR. Business Partners, who were there ready to connect on an individual basis with individuals that are struggling whether they're struggling from just kind of stress of of. Fear of you know health concerns or as we move to a work from home structure challenges working from home adapting to that model dealing with family or kids or other distractions that might be but we put people in place to respond very one on one basis and say, Hey, we're here to help out you know even if just talking to you and. You know sort of talking about the challenges. Or Sharing Information and. Have four different architectures you put in. I'm curious kind of how quickly able to execute that. But there's a, there's a leadership architecture. Then as an information gathering architecture in information sharing architecture than is a caring architecture as well. I. Mean. That's a lot to kind of put in place. I mean how quickly we were you able to do that and is still in place now? I. It it happened fairly quickly, but certainly, not all at once, and again, it was something that we continually iterative on and try to improve or know or evolve as as the needs have changed through throughout the crisis. So I I would say. After a month or so of really formalizing a a response effort, we had at least parts of all of those pieces in place and we've made them better over time. You know. So to the point of a growth mindset, we didn't do it once and figure that was perfect and and the right answer. In all cases we've we've had to to improve in an adapt on those. Yeah. How often I mean, you know you've learned a Weck. How often do you find yourself kind of not seeing that you might have a fixed mindset on on a task or a person or toppy Gora project you how often do you notice that mindset it and go who? I. Wonder if we're going to fix minded then shifted into guys, how often does that happen? you know I'm I'm one of those people just sort of by nature who likes Structure Organization and You know a level of predictability in the in their environment, I know that about myself round. So my my my bias tends to to move in that direction. And WanNa. Say, okay. Here it is. It's sat. Now we just need to run with it and I don't have to. Pay As much attention or babysit that overtime. The interesting thing about the pandemic is it hasn't allowed us to do that. Right because it has been a constant change in an evolution in a dealing with the phases of this, there was a period of time as we were all sort of moving into the pandemic and for many companies like Morningstar moving into a work from all model. So there's very much a transition in period that was. You know very chaotic and very reactive and trying to solve that set of problems quickly as as we could, you know, then we got into this work from home environment and it was a little bit more of a maintenance period where we try to tweak and just make sure that everybody was comfortable in them and productive as possible. Now were in sort of this third stage of planning our shift out of work from home, we're back into the office home and you know in every one of those stages has been very different with different sets of challenges. Now, it's constant. As soon as we want to kind of relax and just be okay with the current situation, it changes on us and so right. It's says literally every week and whoops, I've got to fix mindset about that I'm going to have to shift that because we just GONNA have to change. We can GONNA change. What's do you know the data on the percentage of people who want to be back in the? The office money asking from a lot of friends percentage of people want to be back in the office. Yeah. Well, they're sort of question of do they whether they want to be back in the office or whether did they feel that they get sort of value or benefit out of being back in the office right now, and this varies by country around the world because we're all in different. Phases of the of the Of the pandemic but generally say here in the US. It's it's a relatively small percentage who feel like they're ready to be back in the office somewhere around ten ten percent, I would. I've two and a half percent in one firm five, another ten of us. Really really interesting. Kinda curve and I think I think it's interesting challenges with a hybrid model. And you're coming back to growth mindset like as we as we move into a world where a bunch of people are still going to be working for high more than companies are used to, and then a bunch of going to be in the office, you know one thing coming out for us is. Like It. I. Think if one person is out of the office in everyone should be on a platform like this we don't WanNa. Go back to the days of people room able to really be in the meeting and ever not in the room kind of frustrated. There's a lot of benefit that we've all learned from these platforms that Actually we can be. We really hear each other and see each other and actually be social even though we're. We're out of the office. We'd way when we get the platform right and so that's that's I. think it important habit to just kind of have this mindset about just stay on a platform. If anyone's out of the room, if in the room in an office, mazing, you can meet without level. But if you got one or two people out of the room, keep going with the platform, we think that's going to actually be really really helpful for. For making the work inclusive and less biased, and actually move faster as well. You actually have shorter meetings. Woman and and we've received a lot of those same same comments. So we had pre, Cova at. A relatively small handful of fulltime telecommuters. They're really happy now because we're all telecommuters were all on equal footing, all you know and meetings quite frankly feel rather productive when we're, we're all an and very collaborative when we're all sort of in the same in the same boat as opposed to a couple of people out of the meeting room, but everybody else's. It's it's interesting. Everyone had a really fixed mindset about the you'll meetings and and actually when you get there, it's actually really baffled. We advise blackrock about five years ago. On this, they were We work with them as one of Beth's Putnam on mitigating bias which is a big practice we have and and one of the insights became do as look if. If if one person's you know in San Francisco, ten people in New York. It's just impossible to really be inclusive and the people are always feeling on included, and there's always this bias to compensations in the room, and so they they experimented with. You know if if if anyone's out of the room, then everyone's on the platform on their own and it was A. Really. Crazy idea at the time, but they tried it and found it works tremendously. Well. So I think that's an important thing to have a mindset about going forward as we move into the SORTA hybrid world where some people back in won't We feel the same way that learning. So we'd learning are actually when you get learning, right? It's dramatically better than in person done virtually. Virtually So but you conscious take the same learning, put it online But when you get virtual learning, right, it's shorter much more scalable, much cheaper and dramatically better in terms of habits, we've been kind of teasing pot why that is and how that is. What did you guys do around learning itself around leadership development and learning? What did you do in the in transition? So. Those things are other. Topics that we're. Certainly perfecting as well. We were in the process of moving well of of Installing linked and learning on on a global basis through organization. So you know we're leveraging that much much much more We've developed a lot of remote learning type courses or in videos on things related to working from home and dealing with distractions and and for managers managing in a virtual sort of environment. So I would say we've really dialed up and then the things that we have been doing previously in more. Live session. Formats had to convert to. Virtual. But still instructor ladder live lead type classes. So so there's been some adaptation. there. But you know by and large just as we were talking about meetings, those can be done quite effectively. We a reminder willingness apart at the moment. It's fascinating. I'm still a bit early stages of the research, but some of just share with you and everyone on some of the early nuts. Taking kind of say, Hobday classroom in basically making it a, you know three or four hours, and it's crazy in the learning space and you taking sort of something. It's not very good at making it much much worse whereas when you go virtual, you can actually make it much much better and we'd be looking at, say a half day one day classroom and looking at like the tonnage attention people pay a long may pet fo Albany action they take and comparing that to say, splitting it into three one sessions over say three weeks and I'm looking at the math at the moment and playing. Playing with it, but basically, when it comes to the amount of actions, people take as a result of learning. It's about six times more when you split it into three one Alsatians than on the block, literally six times more. The the actions people take as a result of learning, which is amazing. Right that also the the amount of time they spend focusing on the learning as a result of the lending, also about six times more than six times. Greater not sixty percent, six times. Six, hundred adjust by basically splitting into three now sessions, but Iran has his bias in, it's actually a big. Has these bias that well, if we slid down to three weeks, will lose people and it turns out that's correct. You will lose people about ten percent of people, but actually not that many if you do it right bill a good program you lose that many more people but everyone has a safety bias around that mindset like a lose lose people, but they're not a county garage actually what you've got him and you literally like six times increase in the amount of action people take from the learning. Learning as well as all these are things. So you know we're we've been really studying the real data on this. At the moment. We're not ready to publish something. Yeah. But that's some of the early findings that were saying. It's quite remarkable. Semi encouragements. You and everyone is you know think about the opportunity of this crisis where learning virtually is GonNa be the mainstay for a long time. It's going to be a big pot of of culture including deep leadership programs, which also is way. And think about using the opportunity to make the programs massively better rather than just kinda paced You know what you have in tend to make us So that's Yes. That's something that that was seeing. So yeah, Chris any kind of out of. Like as you thinking about what's next year is what's coming up. You know, what do you think the organization's going to be kind of grappling with? Where do you think the recession will need a growth mindset then of going forward I, think Speaking of the transition back office. I think there's a lot of green space there for possibilities. So the one is and and we're wrestling with with this internally is to what extent is this something that we want to make more permanent. You know sort of this location flexibility of of work and what is the role of the office. Know, what does the office best suited for? If not having people in full-time? We haven't gotten to a conclusion on that one. Frankly, and there are different schools of thought around how important it is to be together, physically in an office on a regular basis, what what potentially you lose from being fully remote. So. We've initiated research efforts around that. We're collecting data in this. Big experiment that we were all forced into at some level, but You know we're staying open to that the the other thing that I know that we will have to learn our way into is really how if we want. To get people back into the office and we want to try and do it in a safe way, but in a fairly expedient way. As well once the The local situation warrants, that is how how do we attract people back into the office? especially, those who really enjoy working from home who've tasted the good wine and don't WanNa go back to the cheap stuff you know and and I, look at that as a essentially, it becomes a marketing effort. How how do we convince people that it's safe? It's safe to get there. That's the bigger. issue. I think it's a lot about psychological safety. Serving Justin physical needs to be handled that I think. It's GonNa be a lot about people feeling like they have some choice in their gives them a sense of. which which we've said outright that nobody will be forced to come back to the office who isn't comfortable doing. But. We want to overtime create more sort of. Encouragement more incentives if you will to draw people back into the office, because we know that we're working swimming against a little bit against the tide of Hey I'm really comfortable. Now sort of to the fixed. Notion, it's like I've gotten used to this. It was painful getting in here. But I'm I'm familiar with it. I, probably like it at some level, why do I WANNA change, right? Yeah. Exactly, and the answer might be maybe you don't want people to change. So we're researching this exact thing at the moment would join analysis of data, other companies, data's, and also all the industry data. We can see to develop a point of view a lot of funds and SEO's thinking like should I force people back to the office or like actually? Isn't a I mean hourly data on this pre Kobe was that actually people get about a day a week of productivity when they when they can on So so sort of the whole question of what should we bring people back for should we bring the back? How often we're doing some analysis on that at the moment will be out of give you a research bracing. I will be ready to do that and kind of really come out with sort of You know here's sort of conventional wisdom, but he's actually what the research says about. Those those decisions decisions in the hybrid model Andre Anything there. S I was going to say one thing that stood out, and this is early days still have honesty. So this is not hundred percent confirmed yet, but it looks as if we looked at people's who work remotely more as a result of choline and the anxiety levels, troubles perceived and what actually lowest that level and it turns out that. Relatedness being part of a team, even if virtual team is really am lowering people's anxieties, even if people have true stay remote. If we can make them. Part of a team that feels inclusive to them. It seems to be really helping those anxiety levels. So that's just something that. Came up recently, are we gonNA dig into that? It doesn't matter if they're together what matters if they feel together. They can be separate. But if they if this or practices that how people really feel like they're a team and you know many funds have been grappling with this question of I, thought the culture was a building in the way we met and worked. No. Actually the culture is not that it's it's it's actually a series of shape everyday habits, a couple of closing comments, and you know someone said to me that I met with recently like. We were wrong about the fact that people could walk in time. We were wrong about. This is this is their organization. They were wrong about the fact that you know people could work on wrong about the fact that it would be impossible to transition to that in any meaningful show time roam about the fact that they can do some basic learning but. Like, all these sort of things that companies the guy and we always thought that was impossible, and now it's not and then some. So companies are starting to think Oh. What else do we believe is impossible and actually maybe isn't. Like, maybe it's not impossible to really move the needle on diversity inclusion equity. For example, maybe we can do that maybe like what else? So I, think there's this sort of open mindedness. Oh, my studies is a growth mindset starting to happen organizations where they're saying, look all these things we thought were impossible actually happens. So what else do we think is impossible that we could move the needle on. So do you do you have kind of a wish list of the one big thing? You could really really tackled the sort of the one big thing. You could leverage the moment on Chris. I think you. You already mentioned it in D. I. Space. That's that's come up recently as another crisis if you will on top of the pandemic crisis that we're already. Facing and. It's it's a challenging one for all of us. I think there's a lot of good intention. You know in sort of energy behind it. But a lot of questions about what do we really do? Yeah, and you know we're taking A. Very much of a growth mindset learning trying to understand I before. Before taking. Action but it's To some extent, as well as an uncharted territory where there's a lot to learn and and it, and it will be an iterative process, well, that it's chatted for us. We've been in the space for awhile. It somewhat jotted. It's no unexplored for us It's it's not fully known, but it's on one thing that we've seen the company wants to do like things play when they really want him to to really build the right habits properly Actually the right place to start is with both lines. at right place to start is educating all people managers and ideally giving people manage the tools to educate every employee. On the habits of growth minds and action building. That's actually the place to start. It creates a special ground for then doing the next practices in a crate, just real interest in other people's perspectives and other people's points of view and a hunger to learn from others. So. During this diversity inclusion, equity work where increasingly sotigui mindset in a pathway. Then moving through the critical habits for inclusion, like day to day, how do we actively include and when we collect data on this, we find most managers actually can be more inclusive every week few times and have a big impact. and. Then from there, how do we actively mitigate bias and I'll give you a data point I. Know You love data. On average for us. Now, initiative is successful the majority of people like eighty, five, ninety, five percent of people actively mitigating bias every week now. and so comey ten, thousand employees should have about half a million acts of bias mitigation a year. and that's how you get systemic change. and that's the good being kind of set a habits, and then the fourth one is actually getting people to speak up better which relates to allies ship, but also just getting people to kind of take on the challenges. So it's kind of growth mindset, active inclusion, mitigate bias, and raise voices. are the sets of habits and we see about eighteen months to two years journey to kind of go on. But it really does start with growth mindset is this sort of willingness to explore things and before. The. So one of the one of the questions is around in this comes up a lot kind of strength versus growth mindset. It's an interesting dynamic. Strengths was his growth mindset. Andre Taylor bit. What's You. You've dug into that. Go to point of view but. Strength and growth mindset comments said there's a research. Yeah, I, mean. This is a great question that comes up really even in conversations that I have. So the when we think about what the focus on strengths means, of course, it is really valuable and helpful, but I think what the strength of. Comes in is actually acknowledging that I'm not always the exponential K. to have gaps if you combine it with an attitude of. Scientists. I'm not actually that put at X., I can still improve. So I think. There is not necessarily a disconnect but. Focusing on strength and only working on strength isn't always necessarily helpful when I'm have to be adaptive particularly. Now, when we have to think that we have never done before may not be a strength. We still have to do to survive as an organization. I'm going to have to overcome some of that's reckless nights. It comes in and helps us overcome that obstacle. Yeah. It can accidentally prime people for mindset. So. Thinking connects people excited at the same time, just because you are able to build a growth mindset doesn't mean you should build skills in every demand. You know you have very basic skills in coding. You shouldn't necessarily be the person's going learn the whole coating world highest someone twenty years. So so growth minds, it doesn't mean that you can become an expert overnight, but it does mean that in any demand, you can get better An alternate is valuable to believe that you can get better in Ann Arbor itself. It's incredibly valuable as you interface with that domain. So yeah, absolutely growth mindset can Or strengths mindset can accidentally create a mindset and particularly in this time, it's not about strength. It's actually about adopting It's much more back collaborating and adapting and being extremely agile in the moment seeing what's happening and responding the other quick comment there around reflection Interesting growth minds is about valuing reflection, and so we talk about in that middle habit of Value broke, you know every time you debrief on something start with where were you wear a now we going. So reflection is woven into every conversation. So you never just talking about what resulted we achievements. Too before, how did we get that and then where we going and how we get there? So? You literally valuing reflection into every conversation about this woman's resulting anyway So it's kind of it's kind of philosophy that learning Mata's and the way to learn is to reflect the outcome for reflections inside inside creates action actions, create new habits, they are so those. How Does My Fall into coaching? I mean the very close together at coaching requires a growth mindset coaching requires believing in when you're coaching someone, you've got to believe that they can get better i. mean you being coached is about how can? I, get that It's not. It's not. You Know How do I prove myself? It's how to improve myself. So coaching is about nudging towards a Growth Mindset coaching. Is There Chris? Thank you for joining us so much Appreciate you being here to walk through your experience, and Take. Care of the organization is amazingly as you have is go through this next stage I. Love what you're doing with the place. Love what you're doing leadership and then gathering data sharing, Donna, taking care of people being really thoughtful and structured about that tastic, a great way to adapt. And to appreciate the the ongoing collaboration. Thanks much. Thank you. Thanks for having me. Your brain at work is produced by the Leadership Institute. You can help us and making organizations more human by reviewing and subscribing wherever you get your podcast. Our executive producer for your brain at work is no guilt. Daniel Carson bladders our editor. Gabriel bears in our associate producer and Clip David, our production manager originally, music is by grant supremacy and local designers bycatch wear. We'll see you next time.
037: Leading with God-Confidence with Esther Littlefield | The Living Room
"Tools living room to grow a space of grace to become everything. God wants us to be. You're listening to the Living Room. Podcast with Joanna. Weaver episode thirty seven. Well Hey there you guys hope you're having a wonderful summer. It's really glorious here in southwest Montana after our long winters I can tell you that the green grass and blue skies and beautiful flowers. Make my heart so happy. Some are always just brings a season abreast for our soul and even a little break in our church scheduled when it comes to our Sunday. School class isn't Bible Studies. But you know what even then we're still praying implanting toward the fall in. Perhaps you are as well so with that a mind. I thought it might be good to spend a few episodes here in the living room focused on Christian leadership my guest. Today is Esther Littlefield. She has a heart for leadership women whether it's in the church or the marketplace and I really think you're going to enjoy our conversation as we talk about leading with God competence if blessed me and I hope it will bless you as well. Well I'm so happy to have with me today. Esther little field there say that again. Well I'm so happy to have with us today in the living room. Esther Littlefield as ter- is a writer and host of the Christian woman leadership podcast. She's also a pastor's wife a mama one and and as founder of Morningstar Media Services and. I'm just telling me what this girl has a lot going on? I'm so happy to have you with assessor. Thank you Joanna. I am excited to be here today. With you We were just chatting a little bit beforehand about being multi passionate women and you You're part of ministry but you also are a businesswoman talked to me. How did that all evolve allow? Do you want the short story or the long story short way? Okay well I I never imagined that would be a business person. So the short story is I went to college for social work. Graduated got a A job right out of college in the social work career and then shortly after that I was invited to direct sales Party where where my friend was selling scrapbooking's lies and I ended up signing up and getting into direct sales And ended up later down. The road had a different company that I was with and that kind of started my entrepreneurial journey and at the same time Had Gotten married and my husband ended up he and I together ended up volunteering in our youth group at our Church. And that eventually led into him. Being hired as the youth pastor after the former youth pastor had moved away so that kind of started our ministry path And then a few years ago I had gotten done with the direct sales company and kind of shifted. My focus back to writing which I've always loved. And so that's where my writing on my blog has has really been focused And it's all kind of just weaved together like God has brought all these pieces together for me at different places but About three and a half years ago I started my business morningstar media services and it was at a point in our family where it was kind of like my decision. Had to be okay. I'm either going to do something. They're going to go back to that direct sales company which I didn't really want to do or I'm going to have to get a fulltime job or have to figure out something else to do to earn some money and be at home which is really what I wanted to do. And that's where that business started and it was such a blessing to be able to use all that I had learned along the way in all those different career paths and bring it all together and still be able to be at home and raise my daughter so hopefully that makes sense. But that's kind of how this is all all gone altogether right that whole idea of being multi. Passion has kind of been my journey as well. I've been blessed. We're in bend in Ministry for many many years but I was blessed to be able to stay at home with my kids and yet I did things on the side because you know always nice to have that extra money for things and in the writing came along and it's just interesting. God doesn't a has not allowed me to just follow one little path. It's been kinda little parallel pass in and like you. It's kind of fun to see how then he brings them together and so I assume that's kind of what inspired your Christian women leadership podcast yet. Yeah so the. Podcasts came a little over a year ago because in my business with Morningstar I was working on the behind the scenes kind of side of a lot of online businesses so other people who had businesses where they were doing coaching or consulting or writing and speaking and I was doing a lot of the tech and a lot of Support things on their website and their social media. And I was a podcast addict. I have loved podcasts for longtime and I had always had in the back of my mind Likud like to have a podcast at some point and I ended up having a client who had a podcast and she wanted me to run her podcast for her. Basically so I learned everything that you have to do on the bi on the behind the scenes side of a podcast a learned a lot of strategy and a lot of things from her and so out of that I ended up starting the Christian woman leadership podcast because I had always had a heart for women who have a desire to lead Or who have been ended up in leadership roles even though they may be Didn't anticipate leading in their lives So that could be both in ministry which has been my journey but also for the women who are in the workplace or in business who have leadership roles or you know are influencing others in some way which I think we all are so my desire with the podcast was to Encourage those women wherever they are in their lives to be able to to do what God is calling them to do But to take this role of leadership seriously. Yeah you know. I think there's a lot of women who who may be have a desire to lead. But they don't know where to begin. there's also women who are leading in they really don't want to. I'm what would you say what he say? That woman who's like I feel God doing stuff in me. I don't even know where to begin that. That's so the story of many women that I taught to and I think for me I didn't even recognize that God had been calling me into leadership until probably four or five years ago. Even though when I look at my whole journey I can see the signs along the way So for the woman who's maybe in that role of okay I've either been thrown into a leadership role and I didn't expect it or maybe I'm starting to sense. Scott is calling me to something and I don't know what it is. I think the first thing is to really just to sit and pray and talk to God about what he's you know. Listen to what he's telling you And to look for the signs around you of what he's already doing through you because oftentimes I think we're already leading in one way or another. It might be that we're leading our children at home or it might be that we're leading a small group in our church in sometimes women don't even recognize like that's actually a leadership role right so to look at the signs and maybe reflect on your on your life this point and if you start to kind of think about all the different steps God has brought you on you might start to see some Parallels or some common themes where you can see the places where you are thriving the most or the places where you sense that God is using new the most effectively and where you are most excited to be serving so I think that's one step is just to kind of sit and listen and reflect and then I think the other thing to do is just to start taking action so I think that there's so many times where we sit and we wonder what am I supposed to be doing with my life. I have this running joke with my husband where every other month or so. I'll look at him. Say What am I doing with my life like I? Just you know I'll I'll question myself And it's silly because I know I'm doing a lot of things with my life and I know got his using me but We sometimes are looking for that. One thing that one calling are that one special dream that we're supposed to have or do and I think most of the time leadership is simply doing the thing that God has called you to right now and just living out your everyday life in a way you know in a purposeful way in a way where you are intentional. About how you're living in how you're leading others around you and so you can reflect and think and pray but you also have to go out and just start doing something and see where that path takes you. Yeah I liked that so much you know. One of the most powerful things I've ever heard was Henry. Black Abe's book experiencing God Way Way Way back when he suggested rather than trying to find guts well to just look for where God is working and join him there. Yeah and that ask been such a free thing because I think we can make you know purpose. We hear that word so much. You had to find your purpose. You GotTa Find Your Passion. And we're like we can really just say. Lord gave me is to see what you're up to and what you might want me to do to be a part. I think it's being because then we get to become what the Lord wants is to be rather than discover it and then somehow fit into this huge role of expectations that that sometimes can really trip is up. Absolutely what would you say to that girl who's like I m I I have this really big big desire and I've got this big big dream but the doors just keeps shutting on it? Yeah that's that's a hard place to be at. I would say I. I've experienced that myself so I'll share an example. When I was fairly newly married I I mentioned that my husband and I had been volunteering in our youth group and we were also involved in a small group in doing some different things and there was a group of women that were starting a new ministry at our church and I kind of wanted to be involved and so I had put my hat in the ring to be one of the people on the team and I can't even remember all the details because it was a long time ago but I didn't end up getting selected to be part of that ministry and there was some reasons for like that sounds kind of mean but there was there was some actual qualifications that you needed to be doing that ministry and and I didn't get it and I felt like it was a closed door. I felt like it was kind of a slap in the face. Got I wanted to serve you? I wanted to help. And why didn't I get to do that? And looking back I can totally see God's hand in it that I was not ready to be in that kind of ministry role I did not have enough spiritual maturity. I had a lot to learn about About marriage and about relationships and about serving God and it was just not the right timing and so you know sometimes when we get those close words we can feel like it means that. We're never going to get to do that. Thing that we that we send got working on our hearts for an so fast forward several years later A different time in my life and God put on my heart to start a women's Bible study at my church and specifically to start a study for younger women who maybe some of them might be newer to faith or were still kind of even on the fence like maybe. They hadn't even made a decision to follow. Jesus and I had a few friends who kinda fit in that category and I I question myself. I was like oh I don't know. Should I do this? I don't know if I'm qualified. I don't know if I'm really you know well educated enough to do the study or whatever but I ended up jumping in and just doing it and out of that came so much fruit and so many blessings and women truly got to dig into God's word so much deeper and deepen their faith and Really we saw a lot of miracles out of that study and then many other groups of formed after that and so when I look back. I'm like okay that first time when I wanted to serve women and wanted to be in the ministry role reaching women. I wasn't ready for it and it wasn't the right timing so I just had to keep doing what God had put in front of me at that time which was just continuing to volunteer in the youth group and so on And then later God brought me to a place where I was ready and where it was the right timing for me to start serving in that way and so I think for that woman who's maybe feeling doors are closing. I would say give up on that dream but also just ask God to use you in whatever you're doing and serve him in the best you can in wherever he has placed you right now And continue to to pray that he will show you your next steps. That is so good you know. That's kind of my journey as well and you know we can feel so resentful and I think I've seen a lot of women derailed by just that they were shut down when it really is an opportunity it really is mercy that God says No. You're not quite ready yet. But for me you know having this burning burning passion to speak to women In my early twenties but it wasn't for eighteen years until God opened the door and can we be faithful. I think this has been the most huge thing for me. Can I be faithful? Ministering in the shadows can I just can even be faithful serving someone else's dream in someone else's ministry because if I can be faithful they're like the Bible says if were faithful in little then he can trust us with much so I love that story. I think I think I would say to those girls so a message that God dropped in my heart. You know what deepen the message. Let God brought in the ministry. And if we'll just fall in love with him if will learn how to love his word than he does. He'll he'll open doors but he does so wisely. Because here's the reality. We will replicate what we are. So I'm only an inch deep. That's what I'm going to replicate so I can trust the Lord when he goes nope not yet. It's not rejection it's direction. So that's that's awesome. What do you think though that woman who like I know? There's something God wants me to do. But I am terrify. I am terrified. The door has been opened. But I've said No. No no no no not me. Yeah but we can say to that girl. Oh my goodness I think this is where you really have to dig into. Where you're valuing your worth comes from. Which is one hundred percent from? God and not from what that thing is that you're sending him calling you to do so For example for me when I started the podcast I believed God was was calling me to start. This podcast I I was terrified. Even though I was excited I was still terrified of but I really had to just decide to let go of the outcome of whatever was gonNA come out of it and say okay. I will be obedient with what you're asking me to do and I'll do it to the best of my ability. I'll use all the gifts and skills that you've given me up to this point in serve in that way but if we attach are worth and our value to how it turns out to the number of followers that we have or the number of people that show up to Bible study when we say we will lead it or the number of people that show up to that you know talk we're giving at mops or whatever it is. I think that's where we get into trouble when we start to associated value are worth on the outcome of what we're doing versus is having the confidence in the security in who. God says we are in who he is and then simply saying okay. I will be obedient to what you're asking me to do. So the fear never goes away. I don't think the fear will ever go away every time I think. Okay I've gotten you know I did that. Big thing that someone else may be. Oh that was so scary and I might have been a little scared about it then the next time. God asked me to do something. I still get scared but it. Just you build confidence by taking action and by doing those things and taking those baby steps of faith when you say okay I will follow you. I will do what you're calling me to do. It will build you up and give you more confidence than next time. God puts release scary thing in front of you. I love it. I actually did a whole podcast on doing it afraid. I think we thinking that we've got to be ready. We've got and you know there's wisdom. We need wisdom. We we need to count the cost of the tower before we build it in all of that but I think when the Lord says yes please. It's time to be willing to step out and I would add. Be Be willing to fail. I think we're so terrified of failure that we fail to even try and for me. I can look back in. You know it's interesting as you were talking. I was remembering the Lord had really laid on my heart. I knew it was him. Here's how I knew. I tested it because I have lots of ideas. Your idea girl. Aren't you as yeah. Let's I have always read it by God and I have to be sure that I don't just rush into it because I you know I've I've got all these ideas of these mighty things I can do forgot so I'd really tested it. I talked to talk to my husband. I talked to some advisers and it was a vision for a ministry to to Minister to Christian women. A Lot. Like what you're doing and so I had this idea. I had the framework for a website. It was going to be cool and part of it was a podcast so plunked down a big chunk of change to to do a podcast on a certain at work and And I did it faithfully but you know what other pieces that I had just said. Okay Lord I'm going to do this but these are the other pieces the other people that I'm going to need to. Have you? Bring my way never materialize and and you know. I I still go I wonder what that was all about but I just had to be at peace that I had obeyed Fred. That was whatever he was going to do with it. I mean never know until heaven without was all about but I did the thing that he asked I think so. Many times we do. We get so caught up in the results and we miss out on the beauty of just simply obeying simply obeying but that takes confidence and I you and I were talking about really how much we do need to walk in God confidence. Can you talk a little bit about that? Yeah it's something that God has really been working on in me for for many years And I just think it is kind of the foundation of whether or not we will be effective in our roles and that can be whether you're effective as a wife. A mom a friend a leader you know a pastor's wife whatever role you might be in if you are lacking in confidence. You're probably always going to struggle and that pretty much is my story for many years. I didn't really understand confidence and I didn't have confidence And so I struggled for a long time because I was doing what I mentioned earlier. I was always looking for something outside of God. In addition to God to validate me and to give me worth or to to show my success and all of those things and all the other people that I was turning to would ultimately fail me and would ultimately let me down and so I would ultimately always be struggling and thinking I have you know. I'm not good enough or I'm not doing the things that I should be doing because I wasn't really resting my my complete and utter in in God alone so that's why I think it's so important. I think that if we don't have it it has a lot of really negative consequences for us and if we truly understand it and if we can truly build it then it will make all the difference it whenever we are going to take those steps of faith going out and doing different things that got might be asking us to do. Yeah but you know it's it's so easy to say it so you just say walking confidence but I can hear that girl on the other side of this podcast going. Yeah what how? What does that even look like? What would you say yeah I? There's there's so much to it that I would say that the first thing is to really kind of assess where you are like to really evaluate where you're at with your understanding of confidence and How how much competence? You have essentially For me know looking back in my life I mentioned my journey so really growing up as a child. I was super insecure. I struggled a lot with insecurity and just never feeling like I had the ability to speak up the ability to say what I wanted to say. I struggled even just to say hello to people when they talk to me. You know Just was always super shy introverted. But but to an extreme of like being afraid you know and so I would say that when you're in that place of being fearful it's it's it's helpful just to to acknowledge it and say okay. I'm recognizing have confidence. I'm not I'm not secure in. Who GOT HIS MAMIE TO BE? I think to another piece is to really understand what we mean by confidence and I know you mentioned you know this God confidence and that's really how I view it too is. That confidence is not about you. It's about the God who lives in you and so it starts with having a really clear understanding of scripture and about what God says about himself and about what God says about you and that's kind of where I start with When I talked to people about this is we need to start with the truth and we need to understand the truth and then we need to start believing the truth getting it into our hearts and our minds and then we start walking in that truth so if you try to start just going out and being confident in your own strength you're not GONNA do it. You're you're just gonNA fail because again you're not going to be basing it on the right thing so you have to really base confidence on the right thing and not on your yourself in your own abilities because again other people and yourself you will always be let down by others in by yourself because we're not perfect people. There's no way that I can always be confident in myself in my own abilities. It's not possible. Yeah I know for me. One of the big big steps and it happened. Interestingly during the time that I was waiting like we talked about earlier that inbetween time. Where you have that burning passion and then the fulfillment of that As I was really I don't even know how to explain it but just making myself available to guide and seen my weak spots. I think confidence symptoms we think is just ignoring our weak spots but actually takes a lot of courage to invite God into those broken places and I had. I had been very insecure. Had some really painful things happen in junior high? That gratefully actually brought me to my knees. Before the Lord in to a point of really surrendering all that I was to him. I knew he'd even me gifts and talents but I knew that if I took them and rent ran with them than I would be creating something you know that was built on me and not on God and I knew I also knew myself enough to know that that was not going to end. Yeah I think if we are available to God if we're really tender and we let him put his finger on our stuff and we we ask for forgiveness we ask him to change our heart. He is so faithful to do it and for me. It's been so exciting as as I've just cooperated with that process of him having his way in me It's actually been those broken messy places that guy has been able to use and give me a message to share with other women and share and I think I think I would say that to that girl who feels so insecure invite God into that place of fear. Let him deliver you from all your peers. But also don't you think we've got to get over waiting to feel? Don't feel confident a lot. But I know God's asking me to do something in so as I step out you know. He's faithful to be there. Yeah Yeah Yeah. I think that confidence really comes down if you if you study it in scripture a lot of the Times that the word confidence is is translated into English. The original Greek or Hebrew word actually is has a meaning of trust. And I just love that. It's a reminder that where am I placing my trust? Am I placing my trust in God? Am I relying on him to give me everything? I need to do what he's just asked me to do Or PUTTING TRUST IN MYSELF. And that's my biggest. That's probably my biggest battle of my life. You mentioned the word surrender to and as a perfectionist who likes to get things right and do do the best at everything. In my life I do not like surrendering control. I like to be able to know the plan. And have all the steps lined out and know exactly how I'm going to get it done and make sure that I do it better than everyone else? I mean that sounds obnoxious. But that's kind of how I have. You know like I said it in the in the younger years I was super shy and nervous but I was really good at school like I figured out. Academics was my thing and I was able to kind of exceed their and so I started to place my trust in myself because I could do well at those things but then God us some things in my life later on that totally destroyed my ability to put my trust in myself My marriage I thought I had marriage figured out. I thought you know what I've done this whole dating thing right. You know my husband. I dated. We we waited for for Intimacy until marriage. We did all the right things on paper but then we got to a place in our marriage where I thought it was going to end and that brought me to a place like you said where I had to invite God in and say I cannot do this on my own I cannot. I have no idea what the answer is and I had to start putting my trust in God to repair that and to bring that back. Same thing with my parenting. I have been brought to my knees in parenting because I have not been able to figure out what to do at times and it's just you know. I only have one child but that God has challenged me with that one child more than I ever would have anticipated and again. It's been a place of surrender to say. Okay Lord. I know you have called me to be the wife to Scott. I know you have called me to be the mom to my daughter But I sometimes I just don't know how to do it and I need your strength. And so it's a it's a regular surrendering and irregular putting my trust in him for giving me the strength to to do these things And so that's where I really think. Confidence is about trust. And it's about trusting God to be your source of strength to do whatever he's calling you to do. That's so good. I love that. I'm writing a book on trusting God. So I'm going to have a look up those versus love. I love that yet. So Fun even though printing it's so freeing when we realize it's not all up to yes. It's not up to me. 'cause it's terrifying. It is all up to me even those of us. Who are maybe more confident than others? I mean that's a terrifying place to be but when I realized that the best kind of leadership is a partnership with the Lord then That's so free you know I was thinking I know there have been periods of time in my life. Where when I wasn't doing so good at home when I wasn't doing so great as a mom or or as a wife sometimes those of us who are driven and gifted will just pour ourselves into ministry or will pour ourselves into business but God really is interested about the whole person and and I love that about him that he's like no. I'm not going to let you escape. I want you to flourish in every place I put you. Yeah what would you say that would be as you kind of navigated that with the Lord and let him get his hands on you You and I had been talking about you. Know that the best kind of ministry and flourishing really does operate out of our walk with the Lord. How has he drawn you? Closer to him. I think that really one of the biggest turning points for me was in that time in my marriage when I thought things were where we weren't sure where things were going to go. I mean we never wanted divorce to even be on the table and my husband was the was a youth pastor at the time. So you know that's really not a a fun thing to be doing or talking about when you're in ministry and I felt so alone I felt like no one could understand. I did thankfully God brought some some close friends into my life to help through that time but really it came down to a women's retreat that I went to wear God's showed me what I had been doing and what I had been doing was I had been expecting my husband to make me happy. And I had been putting all the pressure on him and our relationship to fulfill me instead of turning to God as my number one source and so around that time I started committing to digging into God's Word on a daily basis and I had grown up in the church I had I mean. My grandparents were missionaries. My other grandparents were pastors. Like I knew all the Bible answers you know I knew all the right things to say and do so. I had figured out how to kind of appear really spiritual without going super deep with God and so it was kind of around that time where I started really getting into God's word and being Just turning to him first and foremost before my husband before friendships I also started to like you said kind of this whole person idea started to take better care of myself and kind of do some things to help myself stay healthy because I think that affects our our overall you know ability to function in life but really the foundational part of that was Committing to getting into God's word and that's around that time when I started kind of Going to Bible Studies and just being more engaged in fellowship around God's word and that was really probably the place where I recognize that that actually makes a huge impact you know and within a year or two we really started to come out of that season and then a little while later is where got called me to that Bible. Study that I mentioned where then I was able to take what he'd been working on in me and help encourage other women to like. Get into God's word when you are in his word regularly when you are turning the him first and foremost I still. Don't get it right all the time. I mean there's definitely still times where I don't do this right but I have just seen the impact it makes on my ability to do life that I I don't ever want to go back to trying to to get through my days. My weeks without him a man and isn't he kind that he'll let us coast for a while and then he'll yeah you'll let us hit a wall and on a freshman new. We find out how much we need him. And it's all grace it's all grace. I just love your heart. Esther and I love all of the tools and resources that you have. I hope people go to esther little feel dot com and just kind of poke around your website. I enjoyed that. And all of the wonderful like like eighty podcasts. That of interviews and different things where you talk about different aspects of Leadership. So thank you thank you for letting. God get his hands on you in then. Thank you for being willing to be his hands to others. It's really a beautiful thing. Thank you yeah. Well as we close which you just Would you pray over those girls out there? That are feeling a stirring in their heart. Maybe they've had a dream for a long time and and they just wonder why it's taking so long or that woman who's just feeling like God might be asking her to do something but she's so afraid. Ut to spray for us as we close. Schorr Dear Lord. I thank you so much for every single woman. That's listening right now and for the the passions and the dreams and the gifts that you've given her I pray right now that if she's afraid or unsure or just unclear on where you're calling God that you just start to reveal to her. Her next steps a prayed that she would turn to you first and foremost for her strength for her wisdom and for Just the ability to to step out and for her worth and value for her to know that you made her on purpose. You made her with a purpose and that you have things that she is designed to do and I pray that you would just give her that confidence to take one baby step in that direction and to allow you to guide her as she as she continues in that journey we thank you for this and Jesus name Amen. I don't know about you but it amazes me that God has chosen to link his work here on the Earth with US mere human beings. Well I don't know what the Lord's been stern in your heart. I hope whatever it is. You'll say yes to his call remember. You don't have to do it in your strength. He's not asking you to figure it out on your own. He wants to enable an elite you as she do he asks. I hope you'll check out esters podcast as well as her leadership materials. You can find links over at Joanna. Weaver BOOKS DOT COM forward slash zero three seven. And if you've enjoyed this podcast I hope you'll share it with your friends. Did you know that if you subscribe to the Living Room on any and all podcast players it will automatically show up on your podcast player. Every time a new episode airs. And it's all completely free will listen. Be sure to tune into the next episode. I'll be interviewing cindy owned be. She's the founder of the Popular Website Women's ministry toolbox. And we'll be talking about her new Book Rethinking Women's Ministry. I know you'll be inspired so until next time. Keep walking in God confidence. My friend is going to give you everything you need to live and love and lead like Jesus.
Talking Future Events & Artistic Endeavors w/ Leslie Marshall S6Ep4
"Hey there welcome to beer beef and business the business podcast for smart people who appreciate the insights found in a good conversation that guy sitting at the end of the proverbial bar is your host. David J P Fisher that everyone around here just calls. Md Fish. He's an author speaker and business coach. Basically he's a professional talker. So grab a glass of your favorite beverage. Grab a seat and join us for today's episode. Let's see where the conversation takes us. Hello Hello Hello. Welcome back to another interesting conversation with an interesting person today. The part of interesting person is being played by my good friend. Leslie Marshall Leslie is the head of experiential marketing for Morningstar. Try saying that five times fast and she's a hostile a fantastic artist I I love the are that. She's been putting on twitter and instagram feed. But Leslie thanks for joining me today. Thanks for inviting me David. I really appreciate it. Always love talking to you That's that's a good way to make the host. Feel good about himself off the bat. I like that something for all you other guests to learn and you know you want to of course give a shout out to our sponsor for today's episode sketchbook brewing One of my hometown favorites and today. I'm having their snowy owl. Which is a red Ri- Ale and it is delightful so I'll be sipping on that as we go here but let's see here on. Taco. I'll talk about events. 'cause you run some really big events Across the world for Morningstar you also a really involved in a lot of their online digital marketing and with everything that's happened in the pandemic with the Shelter in place in the quarantines. You know obviously a lot of in person events are being pushed back or cancelled. And we're trying to go to virtual events in many cases but Virtual events can be weird right. You're wrestling with this. How how do we make virtual events as useful or at least may not as useful in person events but but not as a deficient as in person event like what are the ways that we can get the same interaction an engagement? From virtual assets. When you think about what I love to come to an event whether that's a large conference or just a meet up with someone of your groups about a favorite topic. We all want that human connection. That's why we shop in a live event. There's so much digital content available now in order for a live event. Stand out. It really has to have a lot of value around personal connections and meeting the people that you want to connect with our learn from and so when we think about how the event landscape is changing in the in the face of this condemning for me personally as extroverted also descend loving event. It's been so hard to not have the personal interactions that to having every day as well to my job and just my day to day life so right my team and I are really thinking about what what's important to our client. What's important to the attendees? And what do they want when they come to a live experience and so As I mentioned the live the personal connections being able to meet the different speakers being able to have yet whether that's Cuban anytime with those speakers as well as a chance to meet each other so when we're looking at our virtual events and we don't have anything set in stone yet but we are looking at adding virtual components on two even the live events. That were rescheduling for later. This year looking at opportunities that will allow attendees to connect with each other. Maybe it's through different chat rooms or like zoom type function where they could all have a happy hour or you're online you can see people face to face. We think these things should be facilitated so that there's An opportunity to ask questions. And it's maybe more facilitated conversation we've thought about roundtables with our own Morningstar analysts roundtables with speakers so in addition to hearing from apple livestream session from speaker. We would love to have something like the Speaker Session. Afterwards where people could ask questions right with all the great technology to that's available. That's one of the fun things that's been exciting about how the technology has helped people connect during this pandemic because otherwise we would just be off in our little bubbles trying to sort everything out and we're looking at mobile APP licenses and figuring out. How could the mobile APP that we already use at our live events via compliment to virtual event? And again all right it's the networking and connections content. Sharing that's available through a mobile APP. We already used so really taking advantage of the technology. We have to do more to help. People connect I think is key and then simple things like one of the reasons. People come to our live conferences. Is it helps them fulfill ce credits so making sure that if people attend a session online. They're able to submit though sessions later to their accrediting organization to get the C credit so really thinking through. What's valuable the customer? And how to bring that through into over Jill because just watching videos online is not no you might see one or two sessions. That are really interesting. But that's not going to bring you back. I think over talk. Yeah right and that's really interesting because one of the thoughts I've had is in this. Is I think even beyond or let's say it preceded A lot of the events being cancelled because of The pandemic is content is is almost getting a kind of meaningless and that's always a little harsh. Maybe but I just think of for example webinars and I host a lot of webinars. I'm speaker on many webinars. It's not to devalue them but there's so many out there that if you're running a and they fulfill kind of I think an important function in some ways. Their function is the content. I WANNA learn how to be better at acts. I WANNA learn how you just platformer Speak a lot on sales in Lincoln and all that kind of good stuff. But what actually propels people to put in the effort of going to invent? It's it's not the agenda. Allot right the I get to be in a room full of bunch of my peers and not only have conversations that I'm planning on with spew lowry. No but almost kind of that serendipitous event. I mean one of the things I love about. Events is literally who I have lunch next to have had great conversations and built relationships based on. Oh we're getting coffee at the same time in the the hall between sessions. How have you seen anything? That kind of helps replace that that. Those interactions I you mentioned Kinda like virtual roundtables which is kind of interesting Is there anything else you've seen? That has allowed people to do that. We'll again I think About roundtables you talk about a coffee break one of the ideas. We thought to as we can schedule. Coffee Break Similar to the online video parties that people are having with their friends and family or coffee break announced time a time to take a break and that we would we would facilitate some type of interweaves for people. Interact like it'd be focused on topic ways for people to introduce themselves so a lot of the virtual platforms. That were exploring. Have these capabilities where you can establish these connections and give people a chance to talk and have those you know kind of unexpected connection points. Ride that Morning Star hasn't used for our events specifically but one of the technologies. I'm interested in Company called brain date. They do the settlement of live events. Where you can schedule you can put in. These are the topics I'm interested in talking about. And then the the programming matches you up and you have a brain date with someone that you might not know or maybe yeah. I love that idea that concept so I think those types of technologies help people meet each other in unexpected ways. I think we'll continue to be really valuable. Even ack with US pandemic slows down our looking for ways to reconnect. I do think Digital digital collection points that bring forth almost alive. Experience will be really valuable. Yeah and I think something that you said which is important this idea of facilitation because and this happens in the offline world going to an event people it can be awkward or they might be. Shire it it can be. I feel pretty comfortable in in a group of people but for example. I've been to your Chicago. Conference the Morningstar Investment Conference at such Kogyo. It's McCormick place. It's huge. It can be really intimidating to walk into that room. If you don't know anybody right. And so you're right. The idea of having facilitated ways to help people get past that awkwardness. And that's something that I've been talking to people a lot about even as far as rank training on. Hey here's how you have a good conversation with somebody. You don't know that well right because just because it's easiest zoom call with pretty much anybody be necessary going to jump into a really comfortable conversation right. It takes a little while but if you know that this person's interested in sustainable investing they volunteer with a local organization and they also have clients in a certain niche. If you knew a few points about them it would be easier to get going into conversation so thinking about ways that we could surface that for ten days are a lot of lot of the different quite that team. Now we're going to be working on us. We plan can come up with our contingency plans for the fall right and and I love that as you said the idea of going. Hey We know if we appeal together that have a few shared common points of interest and then kind of help shepherd the conversation in the beginning and then you can let people take it over each other and I think it's also interesting this idea. You've kind of mentioned something about even beyond twenty twenty where we're going through this odd pandemic and then we don't even know what the kind of the return to quote unquote. Normalcy will look like but in some ways. What will be interesting is even as we get back to. You know in person events. I think what we are seeing is that there's a strong value and desire for the in person world right. I I think anybody who's afraid of us going completely digital after a couple of weeks just having zoom calls. You're like give me a copy something but but I think it is kind of breaking down the barriers between like often an online in really instead of some of these digital components being like cutesy little add-ons on the APP at two alive experience. It they going to become more integrated crazy and think no. I don't think so. I think there's so many opportunities where this technology will help us. Different technologies will help us bridge between live and digital experiences. So you go to a live event. You can take that experience home. Maybe rewatch session. Maybe reconnect on some different types of on the platform Through different media. So I do think this does escalate in A. There's been a lot of this development is technology development with all these different tools but I do think the pandemic is bringing those tools to the forefront and forcing us to really think through. What do we want our digital experiences to be right How do we want to connect with people and I think after this pandemic winds down it will still help us bridge that gap between the time? Maybe that we see people that we've met at conferences. Help US bridge the gap between different learning opportunities that we WANNA explore at a conference that maybe we missed out in the live experience. So I'm really excited about the potential that technology can really bring to live plus virtual events. I think really. I think it will really help actually enhance the live experience. That much more and then I think for people who may still be nervous about traveling still gives people a chance to connect in an environment. That feels safer them where they're still learning connecting with people And we have just have an opportunity so many more people that way. So there's a lot of things I'm really excited about in terms of opportunities even the face of a lot of uncertainty right right. Well you just mentioned like the idea of having Kind of meet the speaker like I think of even what I've been doing. The last couple of years now is most of my speaking engagements. I always have a file while Webinar container. It right where Amadou's message and then in the next couple of weeks You know we'll do like forty five minutes. Our webinar removes attending. They can ask questions especially since a lot of what I speak on. Tends to be very kind of actionable. Practice off you know. Hey how did it work? But you just made me think. Like how cool would it be if you had you had an APP for your events and with Within that you could sign up that you went to. This breakout session or saw this keynote speaker and then almost like within the APP there was either later after the conference or even like a happy hour that at four thirty the speaker will be on answering questions at the event doing a livestream And you ask them you know. And that's kind of like the and part of it when I hear a speaker. I'm always like okay. I don't ask this in this in this in this or I want her to tell me about that more debt. That's actually really. That jazz is me up. That's pretty cool. Yeah I think he's opened up so many more possibilities to learn connect with people in ways that you wouldn't have been possible before speakers other professional. They're busy This just give them other touch points to connect with an audience connect with people that are interested in learning from them in in new and interesting ways. We've also been looking at ways to bring people to conference through virtual reality headset. That's something I've been reading more about looking at how it'd be cool you really do with immersive quality of Vr. You would feel like you're there really cool expiration in in that realm as well so except for you know that you have access to really good coffee going. You're catching me. He gets good. T sit down pop those on well and you guys you've done South with kind of augmented. Vr stuff. Before having you not necessarily for live virtual events but just even for we have working with clients. What kind of stuff have you done with that so far so far twenty? We're entering our third year of using augmented reality and virtual reality. That seems like a long time and in each year. That leads are trying new things. We're always looking at what we're what is the data. Tell us about these different experiences himself with App last year. We launched a functionality within Morning Star magazine so not only at our conferences. Can you get some interesting augmented reality experiences with the magazine on you can look at enhanced data global markets parameter which shows the impact of? What's happening in the markets day? Today you can see that actively today five years from five years ago ten years ago. Really with augmented reality in this live. Data feed you can see version of this map through the mobile device. Also see supplementary content so read an article from one of our analysts. We've got complimentary video that you could watch through the air so we just are trying to think of ways to add value to to printed content that you send it to print. It's done but with augmented reality can add different types of content experiences right and then the other piece that were exploring with virtual reality this year. We're developing virtual reality game called sustainable city where you'll get a series of investment choices and you'll be able to see how your investment choices impact have an impact on environmental social and governance factors related to your investment and see how that what that does to a city or or community and positively negatively. And you can make decisions like I don't WanNa continue invest in that company had a bigger negative impact on the community that I realized or this investment is not performing well and so you've pullbacks you can kind of manage your portfolio and really see the impact that you're having with these different. Ese Risk Factors and we do plan on debut in that game. Now we've push- conferences into the fall. Our plan is still to go forward with about using a game in Mumbai India London Sydney Australia and Chicago goal and we last year was the first year that we did this. Global Rollout with the virtual reality experience in the result of people. Put that headset on. And they're taking somewhere else they. There's a real wild factor related to their learning about investment serve making investment choices and having fun along the way and I think that's one of the really great aspects of VR. Is You people can have have a great experience at also just adds? They're learning about a topic whether that's investing or cooking or or gaming there's a lot of different so many different applications for virtual reality right Like we said there were it really seems at. It's another slash easier way of understanding the data understanding information. I think that goes back to even the idea of bringing that into events. Yes you can watch a live stream video a two dimensional video but when you start to put Three D. nature of being there. Yes obviously artificially but it. It just kind of gives you more information it lets you process things in a different way. Yeah really elevates experience in a whole new way because VR is immersive. You're right in that environment when he put that headset on so does really change. What your experience is all about. You are there. Your mind. Thinks you're there and that just enhanced as what you're learning how you experienced that content information that you're receiving even opportunities to connect with people through the are so that there are so many really awesome possibilities that saw things that were exploring and make make my job even in the middle of feels like all these events are being canceled. One of the exciting things is a little bit overwhelming. Okay what what's the game? Changer hadn't WANNA keep innovating in this environment right well. That's what happens when you have a title like marketing you get to do. Everything is fun. I everyday's is a new challenge. And it really speaks to. I really curious I love to learn new things and loved and understand how things work and it had to think about. How do we make this a great experience for our clients? How do we make them just really help them solve a problem with their business? How do we get them excited about being part of something that Morningstar's put together? How do we help empower investors? So I it's it's a super fun fun role in changing everyday. Well and I know that you always enjoy a new challenge. You took up Imagine this up top but you you actually took up arch kind of a couple of years ago right this. We really kind of dove into classes again. You know I I come from a really artistic family by my dad went to art school of before he decided he had to get serious and get a real job. My Mom and my grandmother artists. My mom designs quilts a wonderful seamstress. Grandmother was our teacher. I grew up surrounded by really creative family members. And wasn't there's nothing wrong. There's no type of wrong our in our family we could. I was allowed to try things and so I had been meaning to get back to just drying sketching and I already had been doing a lot of photography work and so I I am already starting to have a sabbatical. It's Every four years we get six weeks off paid time off and not nice yeah. It's an amazing benefit and we're allowed to do whatever we want with that time and so one year I decided to get back into taking our classes and so I took a class at the art institute of Chicago. They offer lots of different types of sketching classes. And I think the hardest part for me because I like to do things really well. I think the hardest part for me was upsetting. You know sketching something like this is crap like this is anything that I looking at and so but being uncomfortable learning to be uncomfortable with cocaine your learning like it's been as I am that I was learning okay. You don't know how to sketch because this is a new skill for you. We haven't done this in a really long time and one of the things I loved about. It was letting go and not and not worrying about whether something was good or not and then the other piece was once. I got going and sketching that our it happen. Who WERE MY MIND would go? But it felt so freeing to just explorer are exploring try might might skills at something and then as my skills developed. It was fun to see like well. Look I've learned. I've learned so much and that actually looks like a bird not tomato. Yeah if it looked like a bird tomato. That'd be okay right right. So it's really freed me to feel more confident about exploring ideas and Being comfortable with not to go doesn't right now with the quarantine going on our my artists teacher. She reached out group of us to say she was going to start an online sketching group. Every Thursday she sends out the instructions Instructions for the sketching time people share on facebook and she set up a private facebook. Oh cool dribbling with now is mice again. It's been awhile. I'm kinda rusty with my sketches. So everyone's hearing this amazing sketch work like really great. Like hidden are people that are just so talented and I look at my sketches on facebook. Both people there aren't working so much better about that goes against the spirit class while I'm working on getting the guts to post my terrible sketches this week. You you should you gotTa Post Your Tomato. You know it's amazing how much you're talking about technology in the professional space and I. I really do feel that. The damage has really. I think helped people understand. That technology has a place while at the same time. Really reinforcing our desires people to be in relation with other people physically right to be out in the world. Whether that's at your office. You know I think a lot of people are realizing working from home. Isn't necessarily all. It's cracked up to be a good for some people but a lot of people. I've talked to get back to the office. I like seeing my colleagues my clients. My Co workers. You know being out in you know even for me. I don't mind working from home. But Man I could use a coffeehouse frightened now just to look at some different something different than these four walls but it's also saying like what technologies allow us to do kind of on a personal level. I mean my family is kind of scattered almost literally around the world and we had zoom Bingo the other day you know my my mom to see all the grandkids or you know. I love this idea of a facebook classroom or I have friends who are Zuma. Instructors in the gyms are close and so they're like hey. I'm going to be doing Zuma class in my basement. Just for the fun of it or you on a donate something. That'd be great but I'm GonNa do it for an hour and I had a friend who doing that I saw in her class. She had like ninety people like Marines. Can you imagine many people showed up your class? Like that's what I like about. Some of the online things people doing stuff in their homes and even seeing my colleagues in their home settings we gotta bring down the wall and a little bit right like Rome vulnerable when we're in our homes re-showing outside of ourselves you know. I've seen a lot of vulnerability with colleagues who are trying to also home school their kids and keep their keep up with their children's school lessons and my son has made it onto some of my linked in live sessions. Were all dealing with. Hey this is my real life and this is really me. This is what I look like when work out my basement or this is what it's like when my kids are having a meltdown. Seeing I think art were being in a way this being vulnerable showing more of our real selves which I think is really interesting because it's easy to go to work and like have the scenario of what's going on in my life at home and you is to that we are in a more vulnerable place and I do think the way I seen communities. Come together to help people you know. Essential workers don't have the option of work from home. I've been thinking about that a lot in. How do you help essential workers? How do you support people who bag groceries and are the nurses in your neighborhood? Who are helping Save lives. It's really shifted. Even how I think about the people I interact with in regular times right and I've I've actually written some some pieces on this idea that we are all interconnected you know. Sometimes it's very it can be easy to dismiss it as this kind of whoo idea. Oh Yeah we're all interconnected whatever but We we really are you know. And there's this wonderful image is actually from Some Buddhist writing ancient Buddhist writings very old. It's called Andras Net in India's net is incident net that hangs above. It's like a palace but at every there is a jewel and every jewels reflected in every other jewel right. It's kind of this full description of the fact that we all are reflections of each other right. Even your point about the people at me obey groceries for me. It's been I think what we were realizing are essential people that make our economy. Run are often ones at maybe. Were not given the respect. All this happened And you know I say this a lot during the time you know whether it's on a Webinar or linked to live session Ao. Hey to make sure that you're thinking those people definitely the healthcare workers but also just the delivery drivers the person who works at Walgreens the cashier because they're scared is all of us are and they're they are going to work. You know maybe there. I'm hoping and humans are sometimes resistant to to learning lessons. But hopefully were We'll have a better appreciation of how connected. We really are to each other. Help seven I think it can start with just making the decision to recognize that connection so I think everyone like each person. Doing their part sounds corny. But we can make a lot of change. Have a huge impact. So I do think there's opportunity to reach out to our communities and be more connected even what feels like a disconnected world right now no absolutely and and I think even kind of going full circle to to what we started talking. Emma like why did we go to professional conferences? Which technically are about work but You know it's really about the human connection right. It's about us as people showing up into space with other people and connecting with people and so maybe a great reminder to bring some of that vulnerability necessarily bring with you feel about ours is because they're like wait. I get two days away from my kids grade. I'll take a little break but just recognize that everybody. We are engaged with even the professional sphere. I mean they've they've got those home lives right Moreno. Eventually we are going to get back into the swing of a new normal whatever that is but we aren't going to be all working from home and you know the more we can do to remember the lessons the better exactly well this. This sounds like a pretty good place to kind of wrap things up. We haven't had a chance to about beer but I think we've gone into a completely deep place that any good pub conversation gets into This has been perfect. Lese always ask my guests at the end of the show. What's one piece of advice that you give to someone to help them have a better day? Today there's a couple of things I think. One thing I a piece of advice I always tell. People is just always be curious especially like right. Now is a great opportunity to really. Have you always wanted to learn how to cook or have you always wanted to learn how to do yoga? Do you WANNA learn to draw so always be curious and even in times where it feels like. There's so much happening. Is there an opportunity to learn something out as we talk? Talk a lot about technology. I would never have described myself as a technologist or being even very good at technology but My career in my work even today. You know it's kind of forcing me to well. It's fear that let's figure out what our opportunities are continually help assault this deliver a new interesting experience of being curious for me has been a huge career life spark because it's really is the start of something new and started so many new opportunities and then. I always say a priority. I when I get up is Florida helped me be a good leader and just helped me Good problem solver and it. Kinda sets the path for my day. It does doesn't mean every day goes right. Somedays learned later is also learning the hard stuff you know. I get blessed. Were really difficulty. I get to navigate through but you know I always ask that I get set on the right right path for that day in that studying your day with an attention I think is is the key to just every getting started on the right foot. Every day is a much better shot at things going. Well these responding well when things don't go exactly great. Thanks for sharing that Leslie if you wanted to follow up. What's the best way for them to get in touch with you? All social media so at Leslie. Marshall is my twitter. Handle the as important Leslie Marshall is a broadcaster on Fox. A little different will different than me But sometimes you get each other we get tagged in each other's tweets mersal. I also am always open to messages through Lincoln and again my my accountant like Dennis. Leslie Marshall People through social awesome. And we'll make sure we put all those links in the show as well Leslie. Thanks for joining me. And while we've been talking I've enjoyed my snowy owl from sketchbook brewing. The IT really there they make fantastic beer and more importantly they are fantastic people but you can find them throughout the Chicago land area. They've started to branch out and what I'm saying is if you are not listening to this in the Chicago land area toy. Okay go find one of your local breweries Or local distilleries even local wineries. If you're in the right part of the country and help support them either small businesses and for awhile. It will be hard to be a small business in this economy but we can take care of each other as Lesley. So eloquently pointed out in that can be valuable so go buy a six pack from them. from sketchbook and thank you so much for joining us on this episode. If you WANNA give me some feedback WanNa Chat Find Lincoln at Defense Rockstar. And we'll talk to you on the next conversation here on beer. Beats Cam business by? Thanks for stopping by. You can find show notes and links in this episode at fear beads and business dot com. We all know the best way to find out about a new. Podcast is through our friends so please help us out and share what we're doing through social media or just tell someone and if you could do us a favor and leave us a review on your favorite podcast platform like itunes or stitcher. That would be great. Want to get in on. The conversation sent deficient message on twitter at deep dish Rockstar and will save a spot for you at the bar for the next beer. Feats and business.
Friday, March 27th, 2020
"Yeah Good Morning Virgo. Today is Friday March twenty seven. Two Thousand Twenty the moon in Taurus sex tiles mercury. He know what you want and how to achieve it. Don't let the inherent risk. Keep you for moving forward. This is virgo today. A podcast original. Let's begin your day. The moon moves through fellow earth. Sign making it easy to tap into your passion notice when something makes your pulse race often times we must trust our heart to know exactly what it wants. Now take a moment to reflect on your relationships when you were born. Mercury appeared in the sky as a Morningstar. Now it acts like a guiding light traversing. Your Seventh House of others. His presence makes it easier to talk through problems and find workable solutions. Be Honest with your partner about whatever is on your mind. You'll speak with candor. That is easy to receive. Contemplate your path to personal growth over the next few years. Saturn is set to deliver lessons around your rigid approach to productivity now stationed in Aquarius. He teaches you to make friends with your mistakes and imperfections be open to these experiences. You have much to learn Berko. Today is a daily podcast. Follow on spotify to make it part of your morning routine if you're interested in learning more about your sign. Download the sanctuary up from the apple APP store or Google play for personalized birth chart reading and follow sanctuary at sanctuary world on instagram. That's S. ANC T. U. A. R. Y. W. R. L. D. Horoscope. Today is a podcast original.
Let's Debunk Some Retirement Myths!
"Thanks to linked in for supporting Molly, full answers, Lincoln jobs matches people to your role based on more of who they really are there skills interests. And even how open they are to new opportunities for fifty dollars off your first job post. Go to Lincoln dot com slash full. That's linked in dot com slash full, terms and conditions apply. Also, thanks to net suite by oracle the business management software that handles every aspect of your business in an easy to use cloud platform. Get the free guide crushing the five barriers to growth at net sweet dot com slash full. This is multiple answers. I'm Alison Southwick. And I'm joined as always by Robert broke camp, personal finance expert here at the motley fool everybody in this week's episode of Molly full answers, we're going to tackle five money. Miss with the help of Mari Backman. She's a writer for full dot com. I'm also going to share your advice that you sent in for moving and buying and selling a home all that. And more on this week's episode molecule answers. Hey, bro. What's up? Well, Alison as I did last week. I'm going to highlight three news items this time, plus one weird fun fact, although this one is more weird and maybe a little sad. Are you ready? Sad backs with Robert Brooklyn to look forward. Here we go number one, the IRS announces the retirement account contribution limits for two thousand and nineteenth. So in our active or seventeenth, upper sewed when we had Megan prince failed one of our foolish CPA's here on we had mentioned that if you experts were predicting that retirement limits would go up next year. Well, November I the IRS made it official to the country's unlimited IRA's. We'll go up for the first time in six years, increasing from five thousand five hundred dollars a year to six thousand dollars, and then the so-called ketchup contribution for workers. Fifteen older will remain at one thousand dollars. So for four one case for threes. Most types of four fifty seven and the federal savings plan that limit will also go up that's going up five hundred dollars to a total of nine thousand nine thousand dollars and the fifty and older catch-up contribution remains at six thousand dollars and a note to all my fellow babies of hundred sixty nine like me who will be turning fifty next year. You don't have to wait until you turn fifty. You can start on January. I you just have to be fifty by December thirty first to be putting in that extra money into your tyrant accounts. Also next year the income limits that determine whether you can contribute to a Roth or going up. So they're going up two thousand dollars for individuals four thousand dollars for those who are married and filing jointly. So now on higher contribution limits. Are a good thing. It's important to remember that they have nothing to do with how much you should personally be saving for your retirement. A lot of people anchor on these g-. Wow. If I can put that much in my IRA, I'll do that. And I must be doing enough that may not be the case. So regardless of the country's limits. Get either high quality, retirement calculator or Corsi qualified financial planner to find out make sure you're saving up for time item. Number two MorningStar releases its latest ratings on five twenty nine college. Savings plans Virginia come on Virginia Virginia, you wait. So using a process that play that rates plans, according to five pillars process people parent. Performance MorningStar awards each plan with an Olympic style metal o or a neutral rating or a negative rating. So of the sixty two plans that they evaluated only four to comb the gold, Illinois, Virginia, Nevada and Utah. Nice should say that those are particular plans, many states have multiple plans. So it's the bright star college savings for Illinois. Invest five twenty nine for Virginia. Vanguard five twenty nine for Nevada and my five twenty nine for Utah nine plans were awarded silver matters metals. Eighteen bronze so about half won a medal. Most got neutral ratings five got negative ratings. It's important to remember that you don't have to participate in your own states plan, come Virginia. You can come Virginia. A five nine. That's right now, you might get a benefit by participating in your own states plan often in the form of a deduction on the state income tax return. But for most people that's not a good enough benefit to being part of a lousy plan. So go read the morning star report and also go visit saving for college dot com. Which is also a great resource. Off both of those will rate your state's plan you can evaluate whether you should stick with your state or maybe move to another state and number three the majority of Americans don't feel they're benefiting from the strong economy, so leading up to the midterm elections bankrate survey and ask people if they felt like they were doing better since the election of Donald Trump only thirty eight percent of people thought that they were doing better forty five percent. So they're about the same. And the rest said that they were doing worse as you could expect politics politics played a part of this. So sixty percent of Republicans thought they were doing better since Donald Trump was like president only twenty nine percent Democrats believe that they're doing better. There's definitely some evidence for people maybe not despite the strong kind of feeling like they're doing all that much better wages are have begun moving up. But so has inflation. So while you're getting paid more. You're also spending more on various things also. So the tax cuts were not evenly distributed. In fact, some people will hear about this new tax cut law. But in fact, they're paying more in taxes. But what was most fascinating to me? Is that politics played a part in this because there is a bottom line answer to this. You're either doing better or you are not. So hopefully, if you don't really know whether you're doing it or not figure it out either, you something like meant personal capital, create your own spreadsheet or something could is it is important to know how your finances are doing and whether they're getting better or not. And then finally the fund slash weird fact, and it comes straight from headline of Bloomberg BusinessWeek crash test. Dummies are getting fatter because we are too. This is was actually a long fascinating article about a company called human networks innovative solutions that makes Crash Test Dummies it turns out pretty pricey. They range in price from two hundred and fifty thousand dollars each to a million dollars. Yeah. The article went into the history of testing so back in the fifties. They would have to use cadavers or like hogs and things like that some people they they started us like live human test subjects until like their their their blood vessels burst than there is and stuff like that. It's fascinating article. But the point being back in the day, they would make what would be like the size of a typical man, which is five foot nine one hundred seventy two pounds. Now, the typical man is two hundred pounds. So they have to make bigger Crash Test Dummies and this related league comes on the heels of another report from Syon MAG, which surprisingly is a science magazine highlighted report that. A dollar figure on the cost to the economy of excess weight that figure more than one point seven trillion dollars. According to the Milken institute, so in previous episodes, we have discussed the evidence that healthier people actually are wealthier so full take care of yourselves, eat right and exercise regularly and your bottom line will be better off because of it. Bottom line and wasteland. That's right. I haven't made that panel righty. Thanks to link in for supporting motley, fool answers. Seventy percent of the US workforce is on linked in but Lincoln is more than the world's largest professional network. It's also a better way to find great talent Lincoln jobs matches people to your role based on more of who they really are there skills interests. And even how open they are to new opportunities. That's why new hire is made every ten seconds using Lincoln because Lincoln consider skills experience location and more to match promote your job to potential candidates. Businesses rate linked in jobs forty percent higher than job boards at delivering quality. Candidates twenty two million professionals view and apply to jobs on Lincoln every week in every industry, even yours and mine had delinked dot com slash fool for fifty dollars off your first job post. That's linked in dot com slash full, terms and conditions apply. Support for multiple answers also comes from net, suite by oracle the business management software that handles every aspect of your business in an easy to use cloud platform. Save time and money by managing sales, finance, accounting orders, and HR instantly right from your desk or phone. This isn't some one-size-fits-all software with industry specific support for a broad range of businesses net. Sweet works the way your business works. Molly fil podcast listeners can get their free guide titled crushing the five barriers to growth. You'll learn how to acquire new customers increased profits and finally get real visibility into your cash flow. You can get this free guide at net sweet dot com slash fool. I'm have a special guest in the studio today. It's Mari Backman, and she is a writer for fool dot com. She's a great writer for full dot com. One of my favorite writers kind. She. So I often get reporters contacting me saying, they saw your article or you get quoted, and so it's really great to actually meet you because we've exchanged a lot of emails. So it's so great to meet you in person. Thanks for coming into the studio for having me, you were here for the full dot com writers conference, can you tell us maybe just a little bit about your story. And how you came to be a writer for full dot com. You know, it's funny. I was writing for a lot of different personal finance sites. And I was on the job boards one day, and I saw an application for a contract right or for a freelancer for full dot com. And they said, you know, what I'm going to apply and it was this gauntlet of an application. You have to submit samples you had to answer a million questions ranging from what's your favorite personal finance tip to what are your biggest pet peeves in life? And I'm like, oh, I have so many of the. If I'm honest, this could go very poorly or very well. Depending on the people reading my answers, somehow, they didn't think I was too weird. And they gave me a shot and fast forward to today. And we're we're rocking it. Oh, I feel like that should be a motto of motley fool hiring. We didn't think you were too weird. You can never be too. Yeah. So you've actually joined us today to share five retirement myths that you are on a crusade to debunk. Yes. We're going to do some serious debunking today. Let's okay. Let's let's get to. Let's get to it. The first one is that your daily lattice will kill your retirement. Right. So one of my one of my favorite things is what I'm talking to people. And they say, oh, you know, I'm spending three bucks a day at Starbucks. I really shouldn't. Because if I put that money aside instead I could retire on it, and my answer is no sorry. Sorry. Sorry. Fifteen bucks a week sixteen sixty dollars a month. You know? No. So this is my take on retirement if you're smart about saving for retirement life, little luxuries will not get in your way from meeting your goals. So this is what I do. Personally, I've got a certain amount that I set aside for retirement. It's a I aim for at least twenty percent of my earnings just because I know that what the way inflation has gone. Going. I'm going to need some serious cash when I'm older, especially if like if I have health issues and all that stuff, you know. So I basically put that aside from the start, and then frankly, I don't worry about the little purchases because hey there what get me through my day. My morning coffee. You do not want to see me without my coffee. It's an investment expansion investment in my ability to work and function as a human. And that's the case for a lot of people. So I always say, you know, whether it's your coffee, or you know, the fact that you love vying launch or ordering takeout, you know, those little things aren't going to stop you from retiring if you have an overarching goal of saving for retirement, and you're actually committing to it. So the easiest thing to do. Right. If you work for a company that has a 4._0._1._K just allocate enough of your paycheck to automatically land in your 4._0._1._K before you, even touch it before you even see that. Hey yourself, I pay your future self pay. You're old and gray self first. And then yeah via coffee, you know, especially goals based budgeting, right? As long as you. Okay. This is what I need for college for. Firemen? If I want to buy a house, if I set that all aside and get that out of my Bank account, whatever's leftover I can spend, However, I want exactly I mean as long as, you know, obviously, you have to keep in mind, the the bills that are gonna come up. You know, you've got your cable Bill due at the end of the von. So you don't overspend on coffee, and then you're going to CableVision like you're going to be in the red. And like you're going to have to pay interest on that silly Bill. But yeah, exactly I'm that's why I'm a big fan of automating your savings because that way, it's like you said you get it out of the way. And then you don't have to worry about those little purchases. Let's move onto the second myth your expenses will go down in retirement. Right. So a lot of people think that okay, I'm gonna I'm gonna retire. And instead of spending spending today my expenses are going to get cut in half. And in fact, I have a relative who's close to retirement who said this to me recently. He said you I think I'll probably spend about half as much in retirement does now. And I said why he's like, well, I won't be commuting. I won't be paying for dry cleaning. Okay. I said, well, what are you paying now to commute to work into? Dry cleaner suits couple of hundred bucks a month. He's like, yeah. I said so does that represent fifty percent of your of your of your stunning? And he's like, oh, yeah. No. So the thing about retirement is that you know, yes, you'll kill a couple of costs. Right. You'll kill your commuting costs. And maybe some other incidentals that we all incur by having an office job to go to I wouldn't know something about that. But you guys who actually report to an office every day probably know a little more than I do. But generally speaking, I like to tell people that you'll probably need about seventy to eighty percent of your former paychecks so to speak to cover your expenses in retirement because most of them are actually probably gonna stay the same. You might even have some that go up like, healthcare or like entertainment. 'cause when you think about it, you're not working. You don't have a job to go to you're not gonna just sit in your house all day. So that's the role that I like to follow the only thing that's really going to go away. The only major expense is your retirement plan contributions. Because obviously, you're not saving for retirement when you're in retirement. But when you think about the things that you're spending money on right now, there's really no reason to think that they're gonna. Drastically drop just because you're a little bit older and not reporting into an off right unless you're gonna make major life decisions like moving down. Sizing place cheaper that kind of thing. I've heard people say that, you know, well, what about your mortgage 'cause you might pay it off, you know, in time for a time it, and my answer to that is you might but keep in mind that if you're hanging onto an older home as at home ages, your maintenance and repair costs are going to go up. They might go up enough to offset that mortgage payment, especially if it was on the lower side and property taxes. Also have a tendency to go up over time. So there's not consider too. So yeah, don't don't expect to pay. Like fifty percent of what you're paying now to live just because you're old. Yeah. How often do you have the random relative or uncle or friend coming up to you in and offering their thoughts on their own retirement? And then you have to be like, well, actually, does it happen. A lot pretty often, and I feel bad because basically like my family members. They call me the dream dasher. I'm that person dashes dreams. But you know, I'd rather give someone a reality. Check have to help them pay for their nursing homes. Yeah. Yeah. That's true. That's true. The Wall Street Journal recently publicised the results of a study from Dan area Ellie and a lean Holdsworth who worked for the center work at the center for advanced hindsight at Duke University. Okay. But basically, I'm going to summarize it very basic was basically, they asked people how much do you of your pre retirement income or you're going to need retirement? Most people said seventy to eighty percent. And then when they asked another group to actually break it out in a specific categories some groups had as much as one hundred thirty percent because basically as one said working as a very cheap activity, right? Once you start working you start doing all these things that you've always managed you won. The do you spend much more at least in that first five to ten years of retirement. So the bottom line is you have to figure out what your situation isn't what you really planning to do in retirement before you just rely on sort of a rule of thumb, right? All right, next, myth social security will cover the bills in retirement. It won't. Oh, yeah. No, no. That's all you need to say next. You know, and it's not because social security is going away. Let's debunk that to our here for a second. You know? Yes, there are talks of future benefits cuts. If you know things continue to go the way, they're going. But generally speaking that we will have social security down the line. But the thing that a lot of people need to realize that those benefits are only designed to replace roughly forty percent of the average earners, pre retirement income. And that means first of all that if you're a higher earner that it will replace even less. So we just talked about the fact that you know, as a rule of thumb you want the seventy to eighty percent replacement target social security that if you were an average ardor will maybe cover half of that. So the other half is going to have to come from somewhere. Whether it's your retirement savings in an IRA for one K. Maybe you're lucky enough to have a pension. Maybe you're going to work. Maybe you're going to be a killer landlord and rent out different rooms in your house and take an income that way, and that's all fine. It doesn't have to come from a single source, but just I think the key is to be realistic about what social security will. Pay for benefit this year is seventeen thousand dollars. Right. So so security is is basically poverty protection. Right. It's just enough to keep you out of being homeless and without any food. But it's not enough to pay for the retirement that most people want exactly number four owning a home makes more sense than renting in retirement or otherwise. Right. Oh, well, I think that's something that's not necessarily true in life. And in retirement, you know, for working people and entertainment. But here's why I especially I'm not a fan of owning a home in retirement. And here's why for a lot of people once they retire. They move over to a fixed income where basically you're living on your social security payments, and whatever withdrawal you're taking from your IRA, or whatever it is. And when you own a home, you introduce a world of variable expenses into your budget. Right. You never know when your roof might spring a league or your air conditioning unit might bust, and so suddenly. You've got this mismatch. Right. Where you've got a fixed income, and you've got all of these variable costs. So to me renting is a safer prospect in retirement, unless you have a compelling reason to own your home renting, a safer safer prospect, 'cause you're basically at least for the term of your lease. Right. You're locking in a fixed payment, you're saying, okay. This is what I'm committing to month after month. And I don't have to worry about surprises. You know? But you could I guess is as if as you're entering retirement, sell your home, and then you would have all of that equity that you would then burn through in rent going into retirement or as through your retirement. I mean, there's lots of offense to play around with you know, you could obviously you could sell selling a home prior to our time. And it was a good way to basically generate a lump sum of cash that you could then if you invest wisely you can use it as an ongoing income stream itself. And you know, I wanna I wanna be clear on this one. It isn't to say that owning a home in retirement is always a bad idea. It's just not always a good idea, especially in light of recent tax changes. When you think about? At the tax benefits of owning a home. You know, a lot of those are at least right now. They're they're not as strong. They're not as compelling, right? A lot of people aren't going to be itemizing. Now that the standard deduction is what it is. It's so much higher. So that mortgage interest deduction that's a big tax break that a lot of people aren't going to take any more. So you lose one very compelling reason right there to own a home in general, and especially in retirement when just a financially precarious period in your life, number five are fifth and final myth. We're going to debunk today. You can plan on withdrawing four percent of your nest egg annually in retirement. So that's been classically VIN the convention, right? The four percent rule was invented back in that were initiated instituted whatever you want to call it back in the mid nineties and basically states that if you begin by withdrawing four percent of your nest eggs value during your one of retirement adjust subsequent withdrawals for inflation your nest egg should conceivably last you for thirty years. And while I think it's a good baseline to follow. I don't necessarily think that we should be following to the letter. And here's why so back when that rule was established first of all we were in a very different interest rate environment when it came to bonds, and now we are not in that sort of environment. So basically, if you have a portfolio that's reasonably loaded with bonds. Let's say anywhere from forty to sixty percent bonds, which is the wreck the general recommendation. You're not going to be generating the same sort of income from those bonds as you were back, then and that's obviously going to limit the extent to which you can withdraw that aggressively. The other thing is that the rule makes a lot of assumptions, right? It does seem a fairly even split of stocks and bonds, which not everybody has it assumes that you didn't retire on the really early side people are living longer these days. You know, the social security administration says that I think about twenty five percent of sixty five year olds today, we'll live past ninety. So if you're retired at fifty five which some people are doing, you know, all of a sudden you've got a little bit of a shortfall there. If you start withdrawing at four percent, so I would say use it as a guy. Headline but be careful with it. You know? Now, the originally came out as you pointed out a study in the mid nineties from Bill banging and subsequent studies that it came out with he actually moved it up to four point five percent. And he recently moderated a red discussion and said I still stand by four point five percent. But he recognizes values the research from other folks from people like wait foul says no it really should be closer like three percent. Because like you said, right. Very low interest rates right high stock valuations. So really the bottom line is. Choose something that is within that range and be prepared to be flexible research, regardless of where you start the research shows that one of the best things you can do is if the market does go down or you don't get from bonds what you were hoping that you can cut back on your spending during those tough times. Right. Then wait until your portfolio recovers if you can do that whether you choose three three and a half four four and a half is less important than your ability to cut back when the market is down. Right. So that covers our five myths. So what are you working on lately is there? Anything readers a full dot com. Should look forward to coming from you soon. Yeah. I think there's a bunch of cool stuff coming out. But one of my favorites that I'm working on. And I've actually published something on this in the past. When we to do another one is building the case for napping at work. And why you why you should absolutely do. They should absolutely take a nap in the middle of your work. Many many fools will be on board with that. Recent. Excellent. Have you seen our room, by the way? No, oh, wow. It's a very busy nap room than the Molly flaw, actually. So I thought no one used the nap room, but someone just the other day it was complaining about how they can never get into the nap room because it's always a coupon. But can I ask you something? Do you really feel comfortable putting your head where someone else might have sleep? Drool just like a few moments ago tired. I am. Yeah. Right. I think that's good. I have never used the nap room, bro. It sounds like you have from time to time. Have I so I I try to do a little bit of meditation here and there and the nap room is a good place because it's very quiet. It's very dark and people know not to bug you if the door's closed, I try not to lay on the couch. Just sit on the floor. There's a beanbag in there, you sit on the floor and curl up and fall asleep. No, I do my little meditation location. Oh, right. Right. So it's his meditation room. It's his inner peace room. I might have does once or twice. But I totally agree. Not only is is the couch. Does the same blanket that's been in there? I have no idea. Right. Someone have ownership of washing that blanket. Probably not right. So I think it's a tragedy of the Commons there in our in our nap room. Well, thank you so much for joining us today. This is wonderful to get to meet you in person after all the emails we shared. Thank you like this is just one of those fun debunking sessions. I've had in a long. Oh will come back and do it again. Yes, we're we're we're also more open to it probably than when your relatives come up to you. And you start debunking myths left and right. We're role for dream dashing. Waco. Don't you messing around with me? Hey, we bought a new house. Congratulations. Thank you. We we bought it, and we moved into it. And now, we're in the process of selling our old house, and it's just a horrible experience. But if I can say something about myself a little bit of bragging, I did a really good job. I'm sure you did. I don't doubt it at all. And I did it really good job in part. Because a lot of I got a lot of really great advice from people, namely, a fool gave me a name of a mover who was fantastic bookstore movers. If you're in the DC area, I highly recommend bookstore movers. They were amazing. And we got advice from you guys are listeners so David rights before you move into the new place by a boatload of flat. Plug extension cords these are electoral Cordes, who's plug sit relatively flat against the wall. Allowing for bookcases and couches and other large things we pushed up to them when you move your stuff. Have the chords on hand plugged them in before moving stuff stuff up against the wall? Even if you don't plan on using it just leave it there for when you do that way. You don't have to move the heavy couch or bookshop looking for outlets smart. And so I bought a bunch of money Amazon. Stephanie rights only move what you really need. How many towels plates blankets closed you really use separate out? What you use donate? What you don't use a few a few weeks before the move, and then take out the maybes into a separate pile and see if they make their way back into the necessary pile number two don't move yourself. If you can. I agree with you. I always at least partially move myself and then partially regretted. Well, we packed ourselves. But we didn't move ourselves. So she writes don't move it yourself if you can which I agree. I'm getting too old. And my back is just getting to know your friends no longer work for pizza, right? My friends who worked for pizza number three seventy says clearly separate items into a box by what room and within that separate by importance. You don't want to open everything up at once. So pile the most use items of each room into a separate box. So you can be up and running in no time number four take time off between moving and going back to work. No moving and then back to the office the next day. Well, I did have to do that. Van g rights by tape in different colors and patterns and use a different one for each room for the boxes and each room packed the things you need immediately in separate boxes and label them. So you can find them write a summary of what what's in each box. And then create a spreadsheet that matches your number axes, I know super organized. Tina rights when shopping for a home loan shop around for the best terms and closing costs for your mortgage, contact multiple lenders choose the top tune than pit them against each other by doing this. We saved more than point one percent on our interest rate and thousands on our closing costs friends of ours. Did this in the last few weeks and also reducer interest rate and save in closing costs? I also got some advice from some fools here at the office. So here's I up robber net. My name's Robert net, and I work with Molly full ventures. So new venture fund at the pool. And my first piece of advice is spend the time getting your house ready to sell its way more fun looking at houses, you could spend hours and hours having fun with that. But you'll regret intensely. Not getting your house ready cleaned out. And looking for when you put it on the market. And my second piece of advice is with the home inspector. Find a tough home inspector when you're ready to buy not the one that your agent recommends find your own ask. Friends through other services to find someone who's really tough. And it's going to do the most thorough inspection. You can it can save you thousands of dollars. Because if there's something that you want the seller to take care of before that's your chance. And if there's a showstopper that makes you not want to buy the house, that's your shot. So take the time finds one is really tough and you'll be in great shape and next up. I also got some advice from Tyler Mary. He's a fool out in our Colorado office. Hey, my name's Tyler Marianna software developer in the fool Ratto office might vices to use a service like red fin or Trey Laura instead of a full-service realtor in my experience, the most expensive part of selling a home is all of the fees that go to your real estate agent and taking on a little bit more of that burden on yourself can save you a bunch of money. Oh, and you know, what Mona shell literally just sent me a moving piece of advice over slack at this. Exact second. She said moving tip, Mary someone who likes packing and labeling in all seriousness purge ask someone to take care of. Kids pets while moving and then take several days to unpack and organiz, and she sent me a picture of their organized boxes. That all stacked, and it looks like very accurately labeled it is very accurately. Bill. So another thing that we did that I don't know if you can do it in other parts of the country, but we put everything that wasn't urgent in cardboard boxes. And then we put everything that was urgently needed into pink are plastic crates that we rented. And so that way we knew immediately are these are the things we need. Now, flip open the crate, let it explode everywhere. And then that at least, you know, you're good to go and return the crates immediately. So that was another thing we did that worked out really well, but anyway, thanks for sending me your moving advice. I really appreciate it. It's like one of the most miserable things in the world. But I think I did it up pretty well with a little help from my friends. Well, that's the show. I want to thank everyone who wrote in with your moving tips. You can also send us your questions. We have always have a mailbag episode around the corner or emails answers at full dot com. And you know, what you can also follow us on Twitter and join the motley fool. Podcast Facebook group, it is a closed group. But just asked to be let in and you'll be leading. And then if you say anything mean, you'll be asked out as well because we're nice people. What else do I wanna plug? I dunno. Give us a rating on I tunes and give us a rating on I tunes. We sure would appreciate say nice things. Least say either nice things or very constructive thinks the show is edited housewarming Lee by Rick Engdahl for Robert broke camp. I'm Alison Southwick. Stay foolish. Everybody.
Episode 33 We Really Need to Talk About Active vs. Passive Investing Again
"Welcome to the invest with clarity podcast where you will learn how success in investing as in life is the result of absolute clarity. Mark Pearson of nexus in Minneapolis. Minnesota shares his passion for portfolio management and commitment to transparency and communication to allow investors to fully understand what they own and why bringing them to clarity in their investments. And now here are your co host Manhattan or an end Mark Pearson. Hello and welcome to another invest with clarity podcast with Mark Pearson. We are going to do a double take a number two on a podcast that we did a long time ago because there are things that have changed and things that have happened recently that make this topic even more applicable today, which is active investing versus passive investing investing. If you've been paying attention, you realize that last quarter some poop hit the fan. And because of that some of you missed out on some stuff. So Mark is that where we're headed here. That's right. Big daddy. All right. I'm Lee an opportunity to talk about the power of active investing versus passive, by the way. I think we may have talked a little bit about this that actually I believe that Wall Street on to a certain degree, shockingly mischaracterizes, the term, passive and active. Yeah, I'd like for you to let let's start with the good operational definition on both please. Yeah. So here's the deal when you think about active versus passive investing, Wall Street says passive investing is you by index funds and just hold onto them. Right. And and forget about it. Right. Because it because it's long term, right. So active investing. Of course. From a definition standpoint requires a hands on approach typically by portfolio manager, other so-called, active participant, passive investing involves less buying and selling. And often results in investors buying index funds or other mutual funds that are, you know, passive in nature, so pretty self explanatory. But what Wall Street does is a, you know, they focus on passive investing beating active investing, this whole debate about index funds outperforming active managers part of the problem. I have with that theory is does anyone really look at the the letter of the the what's the word the disclosures on that kind of thing. In other words, is it an apples to apples comparison? You know, one of the examples I'll give you is. We are a global asset allocation strategy, right? We've small-cap mid-cap large-cap. We buy growth we buy value as categorized by Wall Street. We by US, we by international we buy emerging markets, and we are acid allocated across the world. But you would be shocked. How many investors? Continue clients continue to want to compare a global asset allocation strategy to the S and P five hundred which is absolutely incorrect. Inaccurate form of comparison. As we've written in our white papers in the past comparisons thief of all joy and Wall Street is as we've talked about continues to make the site of investing to be as cookie cutter as possible as simple as possible as easy as possible. But those are all fine. But are they the best possible? Because quite frankly, just because it's easy simple. Understand that doesn't mean it's the best. And personally, I want the best and saw what I wanna do today is talk about the active versus passive, and the actuality that you can be both jockey. Yeah. Well, that's that's interesting talks about that. By the way. No, it's always an either or right? What's that? I said it's always an either or right? Yeah. Exactly. Exactly. So let's talk about what that means for a man, okay? For Ivan to y activist so popular. So so important you ever. You ever heard of a company called visa just a few times every time. I swiped my plastic card. Yeah. By the way, thank you as a shareholder since. As a shareholder since the day at one public every time you have swiped your card since it went public back in two thousand and six or seven we've made money. I appreciate that a form of passive investing. May I say as we purchase the stock? The date went public and still have purchased it throughout the years and have held onto it for our clients. I e buying hold. That's what passive says go by an index just by the market by the index and hold it. What does that do to? You it limits your flexibility it limits. Your ability to take care take advantage of opportunities. Like we had in the fourth quarter of last year. The big the first twenty percent correction since frankly, the financial crisis. Now, according to MorningStar a little bit older data. The the fact that the manners met that twenty percent corrections happen in average once every five years we haven't had one since the financial crisis. We almost did in two thousand and eleven I think we were down about nineteen percent or eighteen percent or something like that. But we hit twenty for the first time since the financial crisis would have been ten years, right? And the people somewhat get lax days ical, I e they become passive investors. Right because all the markets should just go up every year. My my portfolio should go up. Every year. And then WAM you get a correction in all of a sudden people are stuck flat-footed. We had Chuck gone. We've talked about the correction the an twenty billion coming out of stocks last court in last December the largest outflow in December only to see first quarter of nineteen be absolutely stunning. Right. And people's stock sitting in cash so passive investing where they say by the index just by the market. Why can't you be passive investor in invest in great vis in businesses and hold onto them by and hold and then use volatility to buy more of those great businesses when they go on sale now now is that sound like passive investing. Or would you say, it's more active? I think it's it's participatory investing. I don't know. I don't necessarily feel like we've even defined that word yet you in other words, you've just driven home my point. Oh, there is no such thing as active in passive investing. Oh, hey, there's no such thing. Sure. Even the passive index funds are adjusted stuff is moved around within the index funds. Money comes into the index funds the money managers gotta buy more of those stocks to make up the percentages that make up the S and P five hundred. Zappa's? I I have a couple of quick king. So I want to throw out a couple of other technical or things that I've heard from other people number one. How would how would the buy and hold people define dollar cost? Averaging if it's not active management. That's a great question. You can't you can't you can't dollar cost average if you will when it's passive. I mean, if you're adding more money, you are buying more. Therefore, you are actively investing see Wall Street wants to paint a rosy picture of is just static. Everything is static. You buy the index. Forget about now people who are who would argue with my position would say, no what we're saying about passive investing. Is you buy the index because active managers in other words managers who invest in a bucket of stocks differently than the S and P five. Hundred do not perform as well. Okay. The fact of the matter is a lot of times. Those comparisons are not accurate number one. Number two. What happens in most porfolios is they end up being over diversified in over ASO kid because I can tell you. I've seen so many portfolios were they own, you know, the S and P five hundred index they own the NASDAQ index they own the Russell two thousand tax the on the AC w I and Dax they own the internet MSCI index. They got all these index funds, the thousands of thousands of stocks and a a true passive would say, well, you just buy the indexes and cold that and because active managers don't perform as well taken into zero consideration knowledge get to the meat in. Why you buy active, okay? Follow me so far. Yeah. I just want to I want to pack up just a smidge because that what you've done with visa right at the dollar cost averaging thing. Right. So you owned it and you've held it. But when it's on sale like we've talked about before I'm assuming that you would probably buy more that is exactly right. Okay. And swear, you know, that's where when you look at an investors objectives what they want to accomplish look things happen in life that alter plans, we need money for some reason. I house you're going to buy a car. We got sick. I lost my job. Whatever the case may be that. It's very very rare that in fact, I've never seen actually completely passive investing to the extent where people just buy something. Hold forever. And don't do anything with it. I I'm sure it's happened somewhere with somebody. But not generally speaking, therefore active investing should be a function of investing in great businesses overtime. The passive component. And the active component being the volatility that creates the opportunity to take advantage of buy more of that business on sale. Not even the we're not even talking about number one investment customization what if you don't want to own certain types of businesses. Number two, big one individually tailored tax efficiency options. We got a new client sever figure portfolio highly successful guy had no idea what tax efficient investing was go tax laws. Harvesting never never heard about. Ouch. Because most people don't talk about it. Because a lot of people don't have that flexibility lap. People. Don't take advantage of what is tax loss. Harvesting? Let me give you a great, very specific example. I did last year. Okay. Have a client new money comes in during the correction. We completely change the portfolio because the corrections happening where. Selling his old positions and getting them into his asset allocation K during that period, he had prophets we had sold to by our new positions because remember we're buying businesses long-term. So if we got a correction, let's get out of the other stuff, let's manage the tax. Let's manage this tax efficiency. But let's position the portfolio as much as we can going forward. Right. So during that process we had bought by do and a by do which is a course the Chinese version of Google had a fairly sizable correction going into December. And we decided that we're going to sell it and take a loss not wasn't a huge loss. But it was a loss enough that every law should take offset gains. Right. That's real dollars in investors pocket that they don't think about what do I mean by that? Folks. What I mean is if I take stock and sell it at a loss as long as I don't buy it back for at least thirty days that loss off. Sets gains, which means the games that I had no longer get paid tax on real dollars in my pocket. But the whole market was correcting. Right. So I decided you know, what we need to do. Here is we need to hedge our position here. So I went and bought Alibaba. Now, not an exactly exactly Saint type of company is by do but in China, similar similar movements. Similar investors. Similar growth potential in the such right? By do is out of the portfolio for thirty days, Alibaba. In the meantime, over the next quarter goes up thirty percent. Okay. So now, I'm owning Alibaba with a thirty percent gain in three months during the correction by do I've sold at a loss and have come back and actually bought it back at a cheaper price thirty days later, and now I own both stocks with the game. Most importantly, I lowered my tax I lower my taxes by doing the tax laws. Harvesting right. So we did that with several positions. You can't do that with passive investing. So everyone focuses on fees fees fees, the cost of an index on the coffin index fund. And the reality is that cost is not just a fee. I pay cost is also what's referred to as opportunity cost. And what does that mean? That means the cost of missing out on an opportunity to take advantage of buying something when it's on sale, by the way, this client is so dang tickled pink. Because not only did we reposition the entire portfolio minimizes tax base. But as portfolio is doing phenomenal in the first quarter after the first quarter is portfolio. I'm not going gonna give the number because I don't want people to talk about. Returns. But I will tell you it was significantly higher than the S and P five hundred. Well, let's let's look at. Let's look at what happened in the last quarter. Because I mean, you just gave a couple of other examples how how do you take advantage outside of tax loss harvesting with a correction with this engaged investing or participatory investing versus active versus passive, would you mind alkaloids? Okay. Collapsed. So this gets a little bit in the weeds. But I think it's important for people who wanna functionally understand when you work with an active manager, how deep can go, and I'm not even going to go that deep, but here's the deal. We had three things happen starting in September and October that I was aware of with my investment committee three things number one. There was greater talk and concern related to the possibility of a recession. Okay. And as part of that, we looked at our numbers. We didn't see a recession coming which is why we were super aggressive and buying in the correction. But if you are thinking, there could be there are hedging positions, you can take we had three semiconductor stocks in our portfolio, Invidia S, T, M, micro and Micron. We had owned all three stocks going back to two thousand. Sixteen substantial gains. I I mean substantial and semiconductors are literally cyclical in nature. You buy them at low points of cycles, you sell them at high points. So we had done in October literally for an example, we sold Invidia at two hundred and sixty two hundred sixty five dollars a share. And by the time, December came people realize that they weren't going to have a recession like they thought the feds had changed their stance by that time in video was one hundred and thirty seven dollars a share. It was the number one worst performing stock in the S and P five hundred and two thousand eighteen while being the number one best performing stock and sixteen and seventeen so knowing that and knowing the valuation got so oversold because remember stock movement man, this is very important for the listeners the movement of stocks up and down on a daily basis is completely irrational. There's no rational the rationality of a movement of stock only half. Over time. That's why it's time in a stock. Not timing a stock, right. So we decided holy cow. We've just been given a gift we bought it back, which I I don't remember on a semi stock doing this ever over the years twenty years I've owned some ice stocks. But I couldn't I was like this is unbelievable. So at two sixty five I'm thinking, okay. This thing's going to pull back the two hundred one ninety maybe in this recession, but this is still the leader the fundamentals long-term haven't changed one thirty seven. I buy it up after I bought it went to one thirty three. I may have picked up a little bit in that timeframe. But not much of it was bought at one thirty seven today. Four months later trades at one ninety. You, you know, you you don't you don't get those opportunities often. So let me let me back up here. So I sold three semi stocks. That's the first thing that happens. So that raise cash we knew we were going to see more volatility in the markets. We knew things were going down. We had cash to buy more by more of our stuff on sale to the tune of about ten to twelve percent of total portfolio. So twelve percent cash was nice position to be in secondarily in August or September. We had one of our holdings gift bought what was called Masar therapeutic maze or robotics. Sorry. It was bought by Medtronic, and it raised more cash there. We also had cash sitting there to buy more of stuff because the markets had moved. So well over the summer, we don't just one of the things that active management. Does you just don't do a cookie cutter? You just don't buy things for the sake of buying things. When money comes in you by when you think it's time to be buying it. So we sat on a boatload of cash in November. December that we were able to put to work buying cell, gene. Which we've talked about on previous podcasts that got bought by Bristol Myers. First of the year buying me buying Invidia at much lower prices, buying more of our core holdings that we own it's the idea of process Matt to answer your question about how do you have cash? How'd you do this? The other thing that's important to know is your cell disciplined dictates. How you sell when you sell and y you sell in other words, if the long-term fundamentals of change of business you sell it. But if you start going through a correction, you may be sell weaker positions in favor of buying stronger positions in the correction because when you're making an investment, you're not making it for the next three to six months, you're making it for the next three to ten years. So you don't really care. What happens in the short term care? What happens in the long term? This is the power of flexibility. This this is full circle. Going back to our four keys which we didn't win. Of our original podcast, four keys to successful investing, flopping strategy investment. Great businesses over time strategy, I won't go through all that today. But the other two flexibility and transparency knowing what you only why you own it and having the flexibility to take advantage of buying more of those great businesses on sale. And frankly, when you look at that correction, I mean, I can go down the list of companies we bought more of in this pullback, which is one of the reason why the performance coming out of that for our clients has been substantially higher than what's going on with regular markets. The fact of the matter is that we haven't had a lot of volatility over the last seventy year. Right. Historically, you do and volatility is picking up in volatility is good now. Wall Street doesn't tell you that Warren Buffett does. But Wall Street doesn't why. Because in most of the cases. For investors. They don't have the flexibility to take advantage of buying stuff. When there is volatility. They got a ride it out. That's what their financial advisor tells them to sit tight we're in for the long haul. I mean, it's like saying it's like saying don't buy on sale because you know, I mean, you don't need anything on sale you could pay full price because you're gonna use it for the long term. Anyway. You always want to buy and sale. I agree. But I'm gonna play mean guy here again. And it seems that I'm trying to I'm trying to do this on every podcast. Just because you know, you're so damn persuasive. You know, you're so confident in what you're saying. Okay. So he so here's what it is here, two points number one. You just said, and I could play it back for you. If you I wanted to that it's not timing the market. It's time in the market. I hear that for my by in hold people all the time that is they're saying, I hear them say it all the time. And here's the part two of that. Which is you're talking about in America, adding here taking advantage right of of the stocks that are on sale, right? The volatility. How is that not timing the market? Oh, great question. Because first of all you're not investing in a market, you invest in great business. No case. Now that's not fair. Type stop do this true. This goes on sale. Oh, that's I was hoping you'd well. I thought you were going to have a little quick like that. Because I I've been interviewing you long enough to know what you were probably going to say, but I really wish this would just sink in with more people. And I know that we're getting a lot more listeners, and you're getting a lot more exposure. But that was such a great retort to something that so many clients here from their adviser, right? You don't invest in the stock market you invest in great businesses. The stock market is nothing more than the greatest tool ever created to bring buyers and sellers of businesses together, the differences, financial advisers tell you you are invested in the market. No, you're not you invest in businesses. You actually own pieces of businesses the markets, just where you go to buy and sell it. But we it's it's it's word phrasing here, or you know, it's people are twisting words, call it. What it is. You're investing in businesses. Therefore, is it important to know what businesses you all a lot of people say, no, I. I hire someone to do that. Okay. That's great. That's fine. But at the end of the day, somebody's gotta know what businesses our own. So you can take advantage of opportunities to help the clients out. That's that's the bottom line. You always hate when I'm going to stump. You one of these days. I'm telling you that right now. I'm I must not be doing enough homework before I get you on these podcasts. But I thought I really thought I would I got you on that one. But all right. Well, that's that's a people are gonna have to stay tuned. I am going to stump Mark Pearson. I'm putting that on tape right now at some point. It's probably not going to happen anytime soon, but I'm gonna I'm gonna get it. All right closing thoughts. What what does everybody need to know about this? This this big picture philosophical shifts that you are at the forefront of trying to make consumers understand the bottom line is there's talk on Wall Street that we're entering a new era where active investing maybe born beneficial than passive investing. I've always said that active is more beneficial. I'm not into timing when you should pass for active 'cause you do both right. But there's a structural component of an index that would lean one towards sane. It's time to be more active than passive and now has to. With what the top holdings are in the S and P five hundred the percentages that are owned of those positions in the s&p five hundred and the overall impact they have to the index. And so at the end of the day, you are going to start hearing more talk about active versus passive investing. And my belief is that the best of both worlds is high you invest in that is invested in great businesses over time passively and actively taken advantage of by more of them on sale when they go on sale. All right, Mark what what's good way for everybody to reach out to you guys to to find out more how they can. Engage. Thank you. You can go to invest with clarity dot com. Click on the link to talk to an adviser click on anything you want there with lots of free. White papers are podcasts are linked there. Feel free to take a look at our stress test. If your portfolio's two hundred and fifty thousand dollars or more we have a free no cost, no obligation investment stress tests that people can take a look deep dive. And then. Portfolio to help them really understand where the potential risks risks are in accomplishing their investment goals, so investment clarity dot com. Wonderful mark. Thank you very much for your leadership again today. My pleasure. Always good to be with you. All right. If you have not subscribed to that podcast. Make sure you click that's scrubbing all buttoned blow and also shared this with your friends and family, if you know somebody who really does need to invest with clarity. This is the podcast for them. So for everybody at nexus and the invest with clarity team. We'll see in the other side of the Mike very soon. The content disgust is for informational purposes, only, it is not a solicitation or recommendation for any securities that may be mentioned here in advisory services offered through naps eight and SEC registered investment advisor.
188: The Case for Lucifer Morningstar
"The mom's the word as JC Penney. Time is running out to find a gift mom will love like ten dollar cultured fresh water pearls dots for wards members. Not a member. It's easy to join or pick up. Something yourself with fifty percents off select women's apparel. Save even more with your ten dollar up twenty five dollar coupon. Waiting for you when your JC Penney app. Wallet this Thursday through Sunday. Celebrate mom at JC. Penney. Offers valid five nine to five twelve. Ten dollar pro stunts excluded from coupon. Other exclusions apply. See store just dot com for details. This is episode one. Eighty eight of the done talk radio podcast. Well, welcome to the show. My name is Donovan Adkison. Thank you for joining me. What have you been up to lately? Well, I'm gonna tell you what my wife, and I have been up to lately yesterday being Wednesday may the. Eight. Yes, it was the eighth a show that we've been looking forward to finally debuted on net flicks. And that is Lucifer. Now, I know that there are a lot of people out there that probably really will kinda cringe or or shrivel up at even the name Lucifer. And they definitely don't want to watch a show that has anything to do with showing the devil in even remotely possible light. However as an atheist and someone who doesn't believe in heaven or hell and in the really enjoys these types of shows where we can get storylines out of these fictional characters. I have no problem with especially with the way that the show has been written thus far. And of course, it it. It is based on oblivious based on characters by Neil Gaiman, a believe I could be wrong on that. I I. I probably should go back and double check myself before I make a complete jerk, but jerk of myself, but I think that is the truth. It actually says it in the credit whenever it comes up think. That's what it is. Anyway, the show was originally on FOX ably, FOX. Yes, seasons one through three. And of course, the story follows Lucifer MorningStar who is the devil the devil in quote in air quotes. I'm doing air quotes here, the devil where he gets bored and decides you know, what I'm going to go see how the the the rest of the the the over world. I guess if you would say is is doing and so he lands in LA and becomes a. A nightclub owner, and he's a nightclub owner where he grants favors and all of these things and by happenstance. He runs across a a detective by the name of Chloe decker. And that is where the actual that's the meat of the story is the dynamic between those two characters and the fact that he falls in love with her. I mean who could do could ever imagined that the devil? It fall in love with anyone. Right. And so we go through this will he won't he will. She won't she kinda scenario for three seasons. And we come to a hell of a cliffhanger in season three. And it deals with Lucifer khloe and a little dude. Little little known, dude named Cain. It was actually played by Tom Wellington of superman fame smallville. And we were like, wow. Wow. What what a cliffhanger? And then the show was cancelled. And those those of us who who really enjoyed in love this show really enjoyed in love these characters there there was this collective gasp. Like, oh, no don't tell me that. They actually did this. And so then what ensued was from from my perspective. One of the biggest social media campaigns. I have ever seen specifically Twitter of trying to get a another network or a streaming service to pick up the show. So that we're not left with this. This cliffhanger just dangling out there. And I mean, it it was vocal. It was vocal. And I like to think that I did my part as well. I mean, every time Tom Ellis who is the lead actor that plays Lucifer every time that he would tweet something about, you know, trying to get picked up or whatever I mean, they were reaching out the net flakes, they were reaching out to Amazon they would just reaching out to Hulu anybody. Did they could reach out to. And all of the actors were doing it. And I believe the writers were to and it got down to the eleventh hour where we will run wondering. As as a group of avid fans of this show. Was this going to be it or we were we going to have to go to our graves with this cliffhanger. And at the eleventh hour the powerhouse that is net. Flicks swooped in and said, we got you cuz and they picked the show up for a fourth season. That was last year that was twenty eighteen so the show debuted yesterday on Netflix Wednesday the night. I mean, the eighth rather today is the night for a ten episode run. And normally this is a show as a typical network show does that would have anywhere from eighteen to twenty two twenty four episodes, and Tom Ellis's even come out and said that during filming of the ten episodes and even after post production that he was so happy that not only were they picked up by net flicks. But the fact that they were able. A couple of things they they were able to have more freedom with the storylines that they could tell the had a little bit more freedom as to what they could actually show. There's going to be several gratuitous shots of Tom lss behind. In and look, I can appreciate a physical form. I'm a dude. He's a dude. But he's got a nice looking. But that's all I'm gonna say at my wife seems to think so too. So anyhow, but the fact that they could really stick to the storylines and in really tell a story from beginning to end in those ten episodes the way it needed to be done because a lot of times, and and my wife, and I were talking about this today as I was taking her to work in network television where you're trying to push for eighteen to twenty twenty two twenty four sometimes twenty six episodes. You you, you know, what your plot points? You're gonna be for the season. The writers get in the Ryder writer's room, they they do outlines or whatever they know the milestones. They want to hit. And where it may only take ten to two thirteen episodes to tell a story. They got a commitment of many more episodes in. That's the reason why you wind up with a lot of filler episodes that if you were to pull them out of the overall narrative of that season, you wouldn't miss them. You wouldn't miss them. They may have minor little bits of information that could potentially be like, well, I don't know what they're talking about. Where did that come from? But he could always be worked into the other episodes. But because they've got an A so many slots to feel they gotta do that unlike a net flicks. Or any of the streaming services really where they can do as many episodes as they really need to if it takes eight episodes, if it takes ten if it takes thirteen in the case of HBO fit take six even though it seems like with game of thrones each it. This is a mini series or each one of the episode is a mini movie. That's how long they are. They they're averaging about eighty five minutes to ninety minutes each. But Tom said, that's that's one of the cool. Things was the fact that they really could concentrate on the story and get to the meat of it. And keep you engaged, and let me tell you. My wife was off work yesterday. I did the things that I needed to do. I didn't have any pressing matters. As far as my clients were concerned. And I said well, this was about two o'clock. I said you you wanna start watching Lucifer, and she was she was all for it before we went to bed last night. We hit binged eight. Of the ten episodes. Taking out just enough time for me to cook something to eat, and which was probably about a. Our our fifteen or whatever my son got home. So we could watch Philip the Franko and that kind of thing, and then we got started back up. And so it was it was roughly about eleven thirty. And I told her I said, we got two more episodes. Now, we don't really want to watch episode nine and then have to hang on for ten tomorrow. Because you know, we're not gonna make it. I mean, we both got to get up in the morning. She's gotta go to work, and I had groceries to do and all this other other kind of stuff. So there's a very high probability nee I say of a one hundred percent certainty that we will be watching the last two episodes of Lucifer tonight. So if you love the show, or if you don't know anything about the show, but now I've peaked your curiosity. I invite you to go to net flicks. I have all four seasons. Now, they have the first three seasons that aired on FOX. And of course, they now have the fourth seat. Season that debuted on may eight. So check it out. So far the fourth season, the eight episodes that we've seen so far some really good writing some really good storylines and plot points, and I'm very curious as to how it's how it's going to in. So give it a shot. I mean, whether you believe in the devil or not it's just a show, you're not if if you're someone a faith watching this show is not going to damn your soul to hail just watch. It. Several weeks ago, or even I don't know month or two ago. I heard about this movie called the wondering earth. And I knew what it was at the time. Of course after I saw a segment on it. What's what's interesting is the fact that recently this movie a movie that most Americans are not even familiar with? Again, the title is the wondering earth it was released recently on net flicks with. Practically no fanfare whatsoever. And you're probably wondering, well, what's the big deal? I mean, they release movies all the time where they just do trailers or they don't really do much press or what have you? Well, here's some key points about this movie. Number one, it is a Chinese movie. It debuted in China. Right. So it's not it's not a Chinese movie that debuted in America or an American movie that eventually made its way over into China because you know, avengers in game is is over two billion worldwide. And they've made a lot of that in overseas markets. But it's this Chinese movie. The wondering earth is also a science fiction movie, which is. Well, I mean, I guess she kinda do get that from Chinese movies a lot of times. But most of the time they have a lot to do with the mystical and magical martial arts. This is a science fiction movie. This movie also has the notoriety of being the third highest grossing movie in twenty nineteen so far coming in it over seven hundred million dollars. At the worldwide box office. Think about that. It is currently in third place. For twenty nineteen releases behind marvel studios in Disney's endgame in captain marvel. So the odd thing about this is that despite this big huge box office hall that this thing has got when it landed on net flicks. Barely any marketing barely any marketing. It is the second highest grossing non English film of all time and one of the biggest science fiction films of all time. So you would think that net. Flicks would give this movie. Some proper attention. It is a fricken blockbuster. Now, I'm I'm curious. I'm probably going to watch it the thing that bugs me is. I think it's going to be dubbed. Because the of course, the movie was filmed in Chinese and. Or Mandarin or or whatever, it's definitely not English. But was then dubbed in English. And and a hope it's at least dubbed because if it's just subtitled than I have a hell of a time because with unfortunately is my husband Lee duties because of my wife's eyesight that I have to read the closed captioning of of of movies that are subtitled, or if there are things like there's a scene where a text message comes up on telephone or something like that, she'll you know, we'll be holding hands watching TV and she'll squeeze my hand. So that should you know, I'll make sure that I tell her what it says. So hopefully, it is dubbed. I haven't really dug into it enough to to to see the here's net flicks official synopsis for the wondering earth, and here's how it reached quote. The film is the story of a distant future in which the sun is about to expand into a red giant indivi- our the earth prompting mankind to make an audacious attempt to say. Save the planet. The multigenerational heroes built-in thousand stellar engines in an effort to propel planet earth out of the solar system in the hope of finding a new celestial home during the twenty five hundred year long journey a group of daring heroes emerge to defend human civilization from unexpected dangers in new enemies into ensure the survival of humanity in this age of the wondering are. Now. If you're a hard core SAFA? Nerd then. You'll know that the this premise is absurd. We would not be able to move the planet. And if we did it would be so disruptive to the Ekos, nobody would survive. Now, if you just allow the the suspension of disbelief, it sounds like it could be a pretty good movie. So I'm I'm looking forward to to at least sampling it to see what this Chinese made seven hundred million dollar mega movie is all about that. Netflix apparently didn't think that it was worth giving it adequate, publicity or an announcement or anything like that. So if you got net flicks. And I know you do search for the wondering are added to your list and enjoy mom's the word. SAC penny. Time is running out to find a gift mom will love like ten dollars cultured fresh water pearls dots for members. Not a member it's easy to join or pick up. Something yourself with fifty percents off select women's apparel. Save even more with your ten dollar up twenty five dollar coupon. Waiting for you when you're JC. Penney up wallet this Thursday through Sunday. Celebrate mom at JC. Penney. Offers valid five nine to five twelve. Ten dollar pro stats excluded from coupon. Other exclusions apply. See store just dot com for details. Mom's the word at JC. Penney. Time is running out to find a gift mom will love like ten dollar cultured fresh water pearls dots for rewards members. Not a member it's easy to join or pick up. Something yourself with fifty percents off select women's apparel. Save even more with your ten dollar up twenty five dollar coupon. Waiting for you when you're JC. Penney up wallet this Thursday through Sunday. Celebrate mom at JC. Penney. Offers valid five nine to five twelve. Ten dollar pro stunts excluded from coupon. Other exclusions apply. See store just dot com for details. Emma, main news segment today. I wanna talk about abortion bills. Now, I don't necessarily want to talk about whether I'm for or against or whether you're four or against. But I don't think we can really have that conversation or even talk about these things without that actually coming out. Because as we all know. This was LOL that was supposed to have been settled in nineteen Seventy-three with ro versus Wade. And if you go and you dig it up and look at what the original ruling was you'll see that over the years that they kinda tightened it up a little bit. They honed it in a little bit. I mean, it was it was pretty much open to begin with. It was like abortions are illegal bam. Now abortions are legal have add it kind of attitude, and I do believe that a abortion should be legal. I am pro choice. But I also don't do believe that there have to be certain stipulations like there should be a certain point in time of the pregnancy. That abortion is off the table. Most states that have their own abortion laws have that pegged at roughly twenty four weeks because right in there is where the fetus passes the point of viability, meaning that with some assistance the fetus slash baby. Will now be able to survive in most likely thrived there's no guarantee, but this is kind of the the the edge of the cliff point is around twenty four weeks. And am I have no problem with that? I have no problem with that. At all. I'm okay. If you back it up to about twenty weeks, just to make sure because twenty weeks should give a woman and in an I'm speaking out of turn here because I'm not a woman, I'm not a female. I don't know what it's like to carry a child. My wife has had three children. I am a father of three. And as I said before my youngest is twenty twenty two now. And I'm not quite fifty. I'm forty nine be fifty in January. So I've got adult children, am I my wife she can speak to this. And she and I have spoken with one another about how we feel when it comes to these anti abortion bills and laws. And we are both pro choice. So I think. Twenty weeks is probably a fair point where if you you can make your mind up by that point whether or not. You wanna keep or become a mother? Let's put it that way. The problem that I'm having with these this current crop of anti abortion bills is they are all what's called the heartbeat. Bill. And it deals with the fact that in the language of these bills. That is soon is a heartbeat is detected or detectable. It will be illegal. I e considered murder for a woman. To have an abortion. And unfortunately in my great state of Georgia, which nor Georgia's basically, the Hollywood of the south and they've been a lot of Hollywood people come out in opposition to Georgia's heartbeat. Bill. Which unfortunately did pass and was signed into law this past Tuesday by our lustrous Guvener camp. It doesn't actually go into effect until January twenty twenty and the ACO you as already said we're going to have a tied up in court. And I'll get back to that in a minute. Alabama. Is also another state, and you'll notice there's a theme here. And I've talked about this before in previous episode. I'm sure there's a thing here when it comes to antiabortion bills. The majority of them are in southern state or states that are considered to be predominantly religious. Or in the bible belt, or however, you want to say it. But Alabama has also been working on. There's. And. They recently I thought it had been actually signed by the governor or had been passed by both houses at the state level. But apparently, according to the Washington Post they. In an article that was posted today. There was a shouting match that actually broke out in the Alabama Senate this morning where they were talking about an amendment to this Bill, which is controversial all of these are always controversial. But that it would criminalize abortions by making performing the procedure, a felony punishable about punishable bub to ninety nine years. In prisonment. So there's some there's some audio here of what was going on. So I'm we'll play it for you. Number three hundred fourteen but representatives related to abortion committee amendment pending. Most of. Komo. In respond number. Horsing. Or whether is is when similar singleton talking for he made it perfectly clear that everything we voted along growth vote. So I just want to bring back, you know. I know you all for this veal. Get your way. But at least treat us fairly do it the right way. Bring with my colleagues on the other side. But procedurally I do stand with my colleagues on the other side of the out here. And the president. I respect your decision. I respect process. However as a Senator myself if one of thirty. Conscience today stand here to say I'm going to this Bill outta here without every member being challenge. The Bill Maher and arro- all vote at some points. So yeah, it kinda got a little heated. They're our wish we have this kind of discourse. In the in the chambers of Georgia state government. I'm not saying that it would change anything. Because unfortunately, these these bills. Are the product of right wing conservative, generally, right right wing, conservative, Christian, Republican senators in house of representatives. And this is the this is the question. Okay. Two things that we need to keep in mind here. And well before I get to that. Let me let me get back to point that I tabled before. And it was talking about you know, the ninety nine years and all of that and it being illegal now the heartbeat Bill at six weeks. You're it's it's going to be legal. You you're going to be considered. It's an act of murder. Okay. Something else came out in in the Georgia law this week that I wasn't even aware was there. In. Here's what's so scary about this. If a woman in the state of Georgia after this this lull. Goes into effect in January twenty twenty which it won't let's say by chance at D it when he goes into effect, if a woman travels outside of the state of Georgia to a state. That does allow abortion in the twenty to twenty four week range. When she comes back into the state. She could be arrested for conspiracy for murder and get up to ten years in prison and not only that if she has someone help her someone drives her to that other state, then that person is also going to be guilty of assisting her being an excess Serie. So that's what's so damn scary about these bills. And so I go back to why is this happening? Well, there's the there's the point that they love to lead with where who's going to speak for those who can't speak for themselves who's going to look out for the unborn. So that's point number one that they try to make. I will say this. I do believe that there is a certain percentage of people that are pro-life that really intrusively in. Honestly think that way they feel like it's their God, given right their God, given responsibility. To step in in help, those that cannot help themselves and in this case speak for the unborn. The other side of that is that point is just there as a token point for a good majority of them because they don't really care about that. They care more because you'll notice you'll notice. There are very few women that sign onto these bills. Very few women support them. There are some. There are some, but they're very few women. That actually sign on his support these bills. The majority of the ones that support. These bills are men. The generally brought up by men, they're they're they're sponsored and co sponsored by men. And as a man myself. As a middle aged, man. I find this very irritating. Because having grown up in the south. Where the predominant religion down. Here. I think is Baptist. The anti-allergy is going by the bible that the man is the head of the household what the man says goes the woman is subservient to her husband. Is she defers basically all matters of importance to her husband. In. So this max hard right in the face. Of modern ideology of the quality. When a man a group of men are trying to tell women what they can and cannot do with their own bodies. That's where I have a problem with it. Another key point is these states understand. That is soon as if they can get it passed through the Senate, then get it passed through the house. They can get it to the governor's desk and the governor will sign it. They know that there's going to be an immediate legal challenge because every one of these antiabortion bills every one of these heartbeat bills. Have been struck down as unconstitutional by federal judge as they should have been not none of these bills have actually seen the light of day as far as being activated into low. They've been signed into law, but they have actually haven't been enforceable because they've all been found to be unconstitutional as I said as they should be because they are. But what they are trying to do. And in swear that these governors and the senators and representatives are all talking amongst themselves across the state lines. I have no proof, but I wouldn't put a pass them. But they're all trying to force the issue. They can get enough litigation going that they can bring this before the supreme core which now has a right wing conservative slant. And they are hoping that the supreme court will take up this issue, and they are hoping. That because of the makeup of the justices now. That either. At the least Roe versus Wade is neutered and at their best road versus Wade is reversed. If this happens. If it makes it to the supreme court. I'm hoping that if they do challenge to the point where they petitioned the supreme court to take up the calls that smarter. People up there, prevail in say, no, this is this is not something that we need to talk about this law has been settled in nineteen Seventy-three. There is no need to revisit this. If they do take it up. A hope the outcome is still the same. But if it is not. If it is not, and they nude or or worse, still reverse Roe versus Wade. I realize we already have what a lot of people are calling constitutional crisis in this country. With everything is going on with Trump in bar in the mall report in it. It looks like the the Trump administration is is just riding their horses and fire in their six shooters in the air, and they don't give a damn about the rule of law. We've got those issues, but if this one right here. If this happens where Roe versus Wade is neutered or even worse reversed. Mark my words there will be rioting in the streets. There will be bloodshed in. There will be. A revolution. Just think about that. Well, that's going to be it for this episode. Thank you for joining me. I hope you found it entertaining. And enlightening of you have any comments that you'd like to make about any of the stories that I talked about today. Did you watch Lucifer? What do you think about the wondering earth? And what are your thoughts on these of anti abortion bills at love to hear from you? You can Email me. The Email address is D T R at Don talk radio dot com. You can follow me on Twitter. The podcast Twitter handle is Twitter dot com slash the talk show. My personal Twitter is done ad kissing. That's DO in a d K. I S S O N, and you can find the Facebook page for the podcast at Facebook dot com slash done talk show, if you'd like you can also leave me a voicemail, it's two nine seven nine six four double o nine. You can also text that number. So I'd love to hear from you. So until next time take care of yourselves. Hug. Loved one's drink some good beer, eight some great food, and we'll see you again. Mom's the word as JC Penney. Time is running out to find a gift will love like ten dollars cultured fresh water pearls dots rewards members. Not a member. It's easy to join or pick up. Something yourself with fifty percents off select women's apparel. Save even more with your ten dollar up twenty five dollars coupon. Waiting for you when you're JC. Penney up wallet this Thursday through Sunday. Celebrate mom it JC. Penney. Offers valid five nine to five twelve ten dollar excluded from coupon. Other exclusions apply. See store for details. Mom's the word at JC. Penney. Time is running out to find a gift mom will love like ten dollars cultured fresh water pearls Dutt's rewards members. Not a member it's easy to join or pick up. Something yourself with fifty percents off select women's apparel. Save even more with your ten dollar up twenty five dollars coupon. Waiting for you when you're JC. Penney up wallet this Thursday through Sunday, celebrate mom at JC. Penney. Offers valid five nine to five twelve ten dollar. From coupon. Other exclusions apply. See store just dot com for details.
For Boeing, Costs Of Grounding Jets Have Only Just Begun
"This message comes from NPR sponsor. Comcast business. Business has always been driven by innovators. That's why Comcast business is helping you with technology that provides better experiences. Comcast business beyond fast Boeing's, seven thirty seven. Max airplane was supposed to be the company's safest bet it's best selling jetliner ever. Now that the United States is grounded the planes. It may be Boeing's greatest cost. There is possible reputational damage to the brand. There's also a more immediate price to pay as NPR's Camilla minosity reports from re-bookings to refunds from jetliner parking to pay for idled flight crews plane groundings are pricey and now some three hundred seventy Boeing jets are grounded around the world. Phil Seymour runs. An aviation consultancy called IB a this is costing millions of dollars per day. And it's not just the airlines on the hook. Boeing may have to pay up to Chris Higgins is an analyst MorningStar. Are typically once an airline takes the aircraft. Boeing make some guarantees in terms of the performance of that aircraft and one of them is that they are craft should be airworthy. If it's not airlines will demand payment for their losses. Norwegian airline CEO Bjorn Hughes says his company plans to ask bowing to pony up. We would send this Bill to those produce this aircraft and Phil Seymour says it's important the Boeing keep those airlines happy. They're repeat customers after all. We don't know how much this could cost Boeing, but we can get a clue from the last time an airplane was grounded by the FAA here in the US that was in twenty thirteen the Boeing seven eight seven had a problem with its batteries. Here's Higgins MorningStar going had to pay out airline competition for that grounding. They never disclosed how much it was. But guesstimates at the time put it around five hundred million dollars, and that was with a much smaller fleet of airplanes. Elected. There's another way these groundings could hurt. Boeing the company has a lot of future deliveries lined up five thousand seven thirty seven maxes have been ordered airlines might refuse or delay those deliveries if the planes are going to be grounded anyway analysts Jeffries crunched the numbers on Monday. They estimate that a two-month halt into liveries could cost Boeing five billion in revenue. Boeing would not comment on financial implications. But the company can afford to take a hit last year it's revenue topped one hundred billion, and it's been raking in profits. But Chris Higgins morning star notes. There's more at stake worst case scenario, if you see deliveries kind of level out, there's a lot of implications beyond Boeing Boeing makes planes, but other companies make the engines for those planes and the seats the landing gear, the fuselage seventy percent eighty percent of most aircraft. That's done by the supply chain not by Boeing there. Thousands and thousands of jobs and hundreds of companies that are supplying into Boeing's final assembly lines the ripple effects of the groundings could hurt Boeing suppliers across the US and around the world Camilo domino, sqi NPR news.