1
00:00:00,000 --> 00:00:00,260
 All

2
00:00:00,260 --> 00:00:00,340
right,

3
00:00:00,460 --> 00:00:00,480
so

4
00:00:00,480 --> 00:00:00,700
today

5
00:00:00,700 --> 00:00:00,900
we're

6
00:00:00,900 --> 00:00:01,120
heading

7
00:00:01,120 --> 00:00:01,399
over

8
00:00:01,399 --> 00:00:01,760
to

9
00:00:01,760 --> 00:00:02,740
Tanzania.

10
00:00:03,440 --> 00:00:03,840
 Yeah,

11
00:00:03,840 --> 00:00:04,240
Tanzania.

12
00:00:04,379 --> 00:00:04,540
 Taking

13
00:00:04,540 --> 00:00:04,700
a

14
00:00:04,700 --> 00:00:04,780
look

15
00:00:04,780 --> 00:00:05,040
at

16
00:00:05,040 --> 00:00:05,179
the

17
00:00:05,179 --> 00:00:05,480
banking

18
00:00:05,480 --> 00:00:06,099
sector.

19
00:00:06,280 --> 00:00:06,639
 Absolutely,

20
00:00:06,820 --> 00:00:07,080
two

21
00:00:07,080 --> 00:00:07,540
big

22
00:00:07,540 --> 00:00:07,860
players

23
00:00:07,860 --> 00:00:08,359
there.

24
00:00:08,599 --> 00:00:08,980
 NMB

25
00:00:08,980 --> 00:00:09,419
bank

26
00:00:09,419 --> 00:00:10,179
and

27
00:00:10,179 --> 00:00:10,660
CRDB

28
00:00:10,660 --> 00:00:11,220
bank.

29
00:00:11,419 --> 00:00:11,619
 Yep.

30
00:00:12,000 --> 00:00:12,259
 We're

31
00:00:12,259 --> 00:00:12,619
gonna,

32
00:00:12,619 --> 00:00:12,759
you

33
00:00:12,759 --> 00:00:13,160
know.

34
00:00:13,720 --> 00:00:13,880
 See

35
00:00:13,880 --> 00:00:14,099
what's

36
00:00:14,099 --> 00:00:14,240
what?

37
00:00:14,320 --> 00:00:14,599
 Yeah,

38
00:00:14,679 --> 00:00:14,839
figure

39
00:00:14,839 --> 00:00:15,000
out

40
00:00:15,000 --> 00:00:15,140
which

41
00:00:15,140 --> 00:00:15,320
one

42
00:00:15,320 --> 00:00:15,419
of

43
00:00:15,419 --> 00:00:15,699
these

44
00:00:15,699 --> 00:00:16,600
might

45
00:00:16,600 --> 00:00:16,739
be

46
00:00:16,739 --> 00:00:16,879
right

47
00:00:16,879 --> 00:00:17,039
for

48
00:00:17,039 --> 00:00:17,219
you.

49
00:00:17,280 --> 00:00:17,559
 Yeah,

50
00:00:17,679 --> 00:00:17,960
exactly,

51
00:00:18,100 --> 00:00:18,179
if

52
00:00:18,179 --> 00:00:18,300
you're

53
00:00:18,300 --> 00:00:18,399
an

54
00:00:18,399 --> 00:00:18,879
investor.

55
00:00:19,120 --> 00:00:19,260
 Yeah,

56
00:00:19,460 --> 00:00:19,600
if

57
00:00:19,600 --> 00:00:19,820
you're

58
00:00:19,820 --> 00:00:19,980
looking

59
00:00:19,980 --> 00:00:20,140
at

60
00:00:20,140 --> 00:00:20,320
these

61
00:00:20,320 --> 00:00:20,859
two,

62
00:00:20,920 --> 00:00:21,079
try

63
00:00:21,079 --> 00:00:21,140
to

64
00:00:21,140 --> 00:00:21,359
size

65
00:00:21,359 --> 00:00:21,559
them

66
00:00:21,559 --> 00:00:21,739
up.

67
00:00:21,800 --> 00:00:22,280
 Exactly,

68
00:00:22,739 --> 00:00:22,739
yeah.

69
00:00:23,059 --> 00:00:23,059
 Which

70
00:00:23,059 --> 00:00:23,239
one

71
00:00:23,239 --> 00:00:23,440
might

72
00:00:23,440 --> 00:00:23,660
be

73
00:00:23,660 --> 00:00:23,800
a

74
00:00:23,800 --> 00:00:24,019
better

75
00:00:24,019 --> 00:00:24,280
fit

76
00:00:24,280 --> 00:00:24,920
for

77
00:00:24,920 --> 00:00:25,120
your

78
00:00:25,120 --> 00:00:25,339
goals?

79
00:00:25,440 --> 00:00:25,579
 And

80
00:00:25,579 --> 00:00:25,760
that's

81
00:00:25,760 --> 00:00:26,079
what's

82
00:00:26,079 --> 00:00:26,079
so

83
00:00:26,079 --> 00:00:26,440
interesting.

84
00:00:26,640 --> 00:00:27,100
 About

85
00:00:27,100 --> 00:00:27,400
these

86
00:00:27,400 --> 00:00:27,780
two.

87
00:00:27,800 --> 00:00:28,160
 Yeah.

88
00:00:28,280 --> 00:00:28,519
 They

89
00:00:28,519 --> 00:00:28,800
really

90
00:00:28,800 --> 00:00:29,000
are

91
00:00:29,000 --> 00:00:29,160
kind

92
00:00:29,160 --> 00:00:29,339
of

93
00:00:29,339 --> 00:00:29,519
two

94
00:00:29,519 --> 00:00:29,920
different

95
00:00:29,920 --> 00:00:30,460
paths.

96
00:00:30,620 --> 00:00:30,940
 Okay.

97
00:00:30,980 --> 00:00:31,280
 To

98
00:00:31,280 --> 00:00:31,719
success

99
00:00:31,719 --> 00:00:31,980
in

100
00:00:31,980 --> 00:00:32,079
a

101
00:00:32,079 --> 00:00:32,140
way.

102
00:00:32,159 --> 00:00:32,539
 Yeah.

103
00:00:33,159 --> 00:00:33,259
 When

104
00:00:33,259 --> 00:00:33,359
you

105
00:00:33,359 --> 00:00:33,560
look

106
00:00:33,560 --> 00:00:34,159
at,

107
00:00:34,159 --> 00:00:34,179
you

108
00:00:34,179 --> 00:00:34,340
know,

109
00:00:34,460 --> 00:00:34,560
how

110
00:00:34,560 --> 00:00:34,939
they're

111
00:00:34,939 --> 00:00:35,340
structured

112
00:00:35,920 --> 00:00:36,159
 Yeah.

113
00:00:36,240 --> 00:00:36,460
 And

114
00:00:36,460 --> 00:00:36,620
their

115
00:00:36,620 --> 00:00:37,000
ownership

116
00:00:37,000 --> 00:00:37,259
and

117
00:00:37,259 --> 00:00:37,420
how

118
00:00:37,420 --> 00:00:37,600
they

119
00:00:37,600 --> 00:00:37,880
approach

120
00:00:37,880 --> 00:00:38,120
the

121
00:00:38,120 --> 00:00:38,560
market,

122
00:00:39,299 --> 00:00:39,420
it's

123
00:00:39,420 --> 00:00:39,640
very

124
00:00:39,640 --> 00:00:40,159
different.

125
00:00:40,700 --> 00:00:41,060
 Interesting.

126
00:00:41,420 --> 00:00:41,600
 Yeah.

127
00:00:41,740 --> 00:00:41,939
 So

128
00:00:41,939 --> 00:00:42,140
let's

129
00:00:42,140 --> 00:00:42,299
do

130
00:00:42,299 --> 00:00:42,579
a

131
00:00:42,579 --> 00:00:42,600
little

132
00:00:42,600 --> 00:00:42,980
bit

133
00:00:42,980 --> 00:00:43,140
of

134
00:00:43,140 --> 00:00:43,320
a

135
00:00:43,320 --> 00:00:43,320
like

136
00:00:43,320 --> 00:00:43,359
a

137
00:00:43,359 --> 00:00:43,560
quick

138
00:00:43,560 --> 00:00:43,780
roll

139
00:00:43,780 --> 00:00:44,060
call.

140
00:00:44,140 --> 00:00:44,280
 Yeah,

141
00:00:44,359 --> 00:00:44,379
let's

142
00:00:44,379 --> 00:00:44,460
do

143
00:00:44,460 --> 00:00:44,460
it.

144
00:00:44,480 --> 00:00:44,700
 Like

145
00:00:44,700 --> 00:00:44,820
who

146
00:00:44,820 --> 00:00:44,960
are

147
00:00:44,960 --> 00:00:45,280
these,

148
00:00:45,280 --> 00:00:45,379
who

149
00:00:45,379 --> 00:00:45,500
are

150
00:00:45,500 --> 00:00:45,700
these

151
00:00:45,700 --> 00:00:45,900
banks,

152
00:00:46,240 --> 00:00:46,240
right?

153
00:00:46,260 --> 00:00:46,439
 Yeah.

154
00:00:46,480 --> 00:00:46,659
 So

155
00:00:46,659 --> 00:00:46,780
we

156
00:00:46,780 --> 00:00:47,060
got

157
00:00:47,060 --> 00:00:47,519
NMB

158
00:00:47,519 --> 00:00:47,840
bank,

159
00:00:47,939 --> 00:00:48,039
they're

160
00:00:48,039 --> 00:00:48,100
a

161
00:00:48,100 --> 00:00:48,200
little

162
00:00:48,200 --> 00:00:48,640
older,

163
00:00:48,879 --> 00:00:49,079
founded

164
00:00:49,079 --> 00:00:49,340
back

165
00:00:49,340 --> 00:00:49,640
in

166
00:00:49,640 --> 00:00:50,100
'77.

167
00:00:50,439 --> 00:00:50,579
 Oh

168
00:00:50,579 --> 00:00:50,760
wow.

169
00:00:50,980 --> 00:00:51,219
 Yeah,

170
00:00:51,439 --> 00:00:51,500
so

171
00:00:51,500 --> 00:00:51,740
they've

172
00:00:51,740 --> 00:00:51,799
been

173
00:00:51,799 --> 00:00:52,060
around

174
00:00:52,060 --> 00:00:52,219
for

175
00:00:52,219 --> 00:00:52,299
a

176
00:00:52,299 --> 00:00:52,480
minute.

177
00:00:52,600 --> 00:00:52,760
 Yeah,

178
00:00:52,879 --> 00:00:52,980
damn.

179
00:00:53,183 --> 00:00:53,583
Mark

180
00:00:53,583 --> 00:00:53,723
a

181
00:00:53,723 --> 00:00:54,024
cap

182
00:00:54,024 --> 00:00:54,423
of,

183
00:00:54,423 --> 00:00:54,483
let's

184
00:00:54,483 --> 00:00:54,763
see,

185
00:00:54,983 --> 00:00:55,643
TSH2

186
00:00:55,643 --> 00:00:56,483
.65

187
00:00:56,483 --> 00:00:57,323
trillion.

188
00:00:57,564 --> 00:00:57,863
 Okay.

189
00:00:57,923 --> 00:00:58,083
 With

190
00:00:58,083 --> 00:00:58,323
a

191
00:00:58,323 --> 00:00:58,723
T.

192
00:00:59,143 --> 00:00:59,223
 All

193
00:00:59,223 --> 00:00:59,524
right.

194
00:01:00,207 --> 00:01:00,567
Led

195
00:01:00,567 --> 00:01:00,948
by

196
00:01:00,948 --> 00:01:01,307
CEO

197
00:01:01,307 --> 00:01:01,707
Ruth

198
00:01:01,707 --> 00:01:02,367
Zaipuna,

199
00:01:02,667 --> 00:01:03,207
got

200
00:01:03,207 --> 00:01:03,408
a

201
00:01:03,408 --> 00:01:03,588
team

202
00:01:03,588 --> 00:01:04,108
of

203
00:01:04,108 --> 00:01:04,388
almost

204
00:01:04,388 --> 00:01:04,807
3

205
00:01:04,807 --> 00:01:05,647
,800

206
00:01:05,647 --> 00:01:06,647
employees.

207
00:01:06,647 --> 00:01:07,307
 That's

208
00:01:07,307 --> 00:01:07,447
a

209
00:01:07,447 --> 00:01:07,608
lot

210
00:01:07,608 --> 00:01:07,748
of

211
00:01:07,748 --> 00:01:08,167
employees.

212
00:01:08,188 --> 00:01:08,447
 Yes,

213
00:01:08,968 --> 00:01:09,108
yeah.

214
00:01:09,367 --> 00:01:09,367
 Share

215
00:01:09,367 --> 00:01:09,688
price

216
00:01:09,688 --> 00:01:09,927
sitting

217
00:01:09,927 --> 00:01:10,347
at

218
00:01:10,347 --> 00:01:11,268
TSH5

219
00:01:11,268 --> 00:01:11,867
,300.

220
00:01:12,287 --> 00:01:12,468
 All

221
00:01:12,468 --> 00:01:12,608
right.

222
00:01:12,707 --> 00:01:12,888
 So

223
00:01:12,888 --> 00:01:13,067
that's

224
00:01:13,067 --> 00:01:13,347
NMB.

225
00:01:13,507 --> 00:01:13,807
 Okay.

226
00:01:13,867 --> 00:01:14,067
 Now,

227
00:01:14,188 --> 00:01:14,628
CRDB,

228
00:01:14,908 --> 00:01:15,427
they're

229
00:01:15,427 --> 00:01:15,468
the,

230
00:01:15,468 --> 00:01:15,548
you

231
00:01:15,548 --> 00:01:15,747
know,

232
00:01:15,888 --> 00:01:16,007
the

233
00:01:16,007 --> 00:01:16,328
younger,

234
00:01:16,628 --> 00:01:16,807
the

235
00:01:16,807 --> 00:01:16,987
newer

236
00:01:16,987 --> 00:01:17,268
of

237
00:01:17,268 --> 00:01:17,388
the

238
00:01:17,388 --> 00:01:17,447
two.

239
00:01:17,487 --> 00:01:17,628
 Could

240
00:01:17,628 --> 00:01:17,768
you

241
00:01:17,768 --> 00:01:17,888
kit

242
00:01:17,888 --> 00:01:18,067
on

243
00:01:18,067 --> 00:01:18,188
the

244
00:01:18,188 --> 00:01:18,548
block

245
00:01:18,548 --> 00:01:19,027
relatively

246
00:01:19,027 --> 00:01:19,388
speaking?

247
00:01:19,408 --> 00:01:19,847
 Yeah,

248
00:01:20,087 --> 00:01:20,328
relatively

249
00:01:20,328 --> 00:01:20,688
right,

250
00:01:20,727 --> 00:01:20,828
I

251
00:01:20,828 --> 00:01:20,908
found

252
00:01:20,908 --> 00:01:21,108
it

253
00:01:21,108 --> 00:01:21,408
in

254
00:01:21,408 --> 00:01:21,727
'96,

255
00:01:22,307 --> 00:01:22,307
so

256
00:01:22,307 --> 00:01:22,768
still,

257
00:01:22,768 --> 00:01:22,807
you

258
00:01:22,807 --> 00:01:23,048
know,

259
00:01:23,207 --> 00:01:23,307
been

260
00:01:23,307 --> 00:01:23,647
around

261
00:01:23,647 --> 00:01:23,828
doing

262
00:01:23,828 --> 00:01:24,027
their

263
00:01:24,027 --> 00:01:24,147
thing.

264
00:01:24,168 --> 00:01:24,328
 Yeah,

265
00:01:24,487 --> 00:01:24,587
definitely.

266
00:01:26,027 --> 00:01:26,027
 Market

267
00:01:26,027 --> 00:01:26,527
cap,

268
00:01:26,587 --> 00:01:27,527
TSH1

269
00:01:27,527 --> 00:01:28,408
.67

270
00:01:28,408 --> 00:01:29,128
trillion.

271
00:01:29,768 --> 00:01:29,968
 Okay.

272
00:01:30,048 --> 00:01:30,188
 So,

273
00:01:30,188 --> 00:01:30,287
a

274
00:01:30,287 --> 00:01:30,468
little

275
00:01:30,468 --> 00:01:30,747
bit

276
00:01:30,747 --> 00:01:31,227
smaller.

277
00:01:31,647 --> 00:01:31,647
 A

278
00:01:31,647 --> 00:01:31,727
little

279
00:01:31,727 --> 00:01:32,147
smaller,

280
00:01:32,628 --> 00:01:32,707
but,

281
00:01:32,707 --> 00:01:32,707
you

282
00:01:32,707 --> 00:01:32,888
know,

283
00:01:33,128 --> 00:01:33,347
not

284
00:01:33,347 --> 00:01:33,768
insignificant.

285
00:01:34,007 --> 00:01:34,247
 No,

286
00:01:34,247 --> 00:01:34,367
not

287
00:01:34,367 --> 00:01:34,507
at

288
00:01:34,507 --> 00:01:34,608
all.

289
00:01:34,787 --> 00:01:34,888
That's

290
00:01:34,888 --> 00:01:35,048
still

291
00:01:35,048 --> 00:01:35,247
huge.

292
00:01:35,268 --> 00:01:35,807
 No,

293
00:01:35,967 --> 00:01:35,967
no,

294
00:01:36,108 --> 00:01:36,168
absolutely.

295
00:01:36,228 --> 00:01:36,408
 Yeah.

296
00:01:36,888 --> 00:01:37,147
 CEO

297
00:01:37,147 --> 00:01:37,787
is

298
00:01:37,787 --> 00:01:38,007
Abdul

299
00:01:38,007 --> 00:01:38,507
Majid

300
00:01:38,507 --> 00:01:39,128
Nisekela.

301
00:01:39,388 --> 00:01:39,628
 Okay.

302
00:01:40,108 --> 00:01:40,168
 And

303
00:01:40,168 --> 00:01:40,228
they

304
00:01:40,228 --> 00:01:40,388
got

305
00:01:40,388 --> 00:01:40,587
a

306
00:01:40,587 --> 00:01:40,787
team

307
00:01:40,787 --> 00:01:41,247
over

308
00:01:41,247 --> 00:01:41,628
4

309
00:01:41,628 --> 00:01:42,048
,000.

310
00:01:42,268 --> 00:01:42,668
 Wow.

311
00:01:43,108 --> 00:01:43,608
 So

312
00:01:43,608 --> 00:01:43,927
a

313
00:01:43,927 --> 00:01:44,268
slightly

314
00:01:44,268 --> 00:01:44,728
larger

315
00:01:44,728 --> 00:01:45,287
team

316
00:01:45,287 --> 00:01:45,847
than

317
00:01:45,847 --> 00:01:46,367
NMB.

318
00:01:46,967 --> 00:01:46,967
 Interesting.

319
00:01:47,312 --> 00:01:47,792
And

320
00:01:47,792 --> 00:01:48,112
their

321
00:01:48,112 --> 00:01:48,352
share

322
00:01:48,352 --> 00:01:48,812
price

323
00:01:48,812 --> 00:01:49,392
is

324
00:01:49,392 --> 00:01:49,852
at,

325
00:01:49,852 --> 00:01:50,092
let's

326
00:01:50,092 --> 00:01:50,292
see,

327
00:01:50,572 --> 00:01:50,592
T

328
00:01:50,592 --> 00:01:50,932
.S.

329
00:01:51,152 --> 00:01:51,272
H

330
00:01:51,272 --> 00:01:52,052
.640.

331
00:01:52,352 --> 00:01:52,632
 Okay.

332
00:01:52,832 --> 00:01:53,092
 So

333
00:01:53,092 --> 00:01:53,392
this

334
00:01:53,392 --> 00:01:53,632
is

335
00:01:53,632 --> 00:01:53,732
what

336
00:01:53,732 --> 00:01:53,772
I

337
00:01:53,772 --> 00:01:53,912
think

338
00:01:53,912 --> 00:01:54,152
is

339
00:01:54,152 --> 00:01:54,372
super

340
00:01:54,372 --> 00:01:54,752
interesting.

341
00:01:55,012 --> 00:01:55,232
Right

342
00:01:55,232 --> 00:01:55,432
off

343
00:01:55,432 --> 00:01:55,612
the

344
00:01:55,612 --> 00:01:55,732
bat.

345
00:01:55,792 --> 00:01:56,032
 Yeah,

346
00:01:56,172 --> 00:01:56,212
come

347
00:01:56,212 --> 00:01:56,292
in.

348
00:01:56,312 --> 00:01:56,412
 You

349
00:01:56,412 --> 00:01:56,612
got

350
00:01:56,612 --> 00:01:57,112
NMB,

351
00:01:57,612 --> 00:01:57,612
right?

352
00:01:58,532 --> 00:01:58,992
Older,

353
00:01:59,092 --> 00:01:59,352
a

354
00:01:59,352 --> 00:01:59,412
little

355
00:01:59,412 --> 00:01:59,592
bit

356
00:01:59,592 --> 00:01:59,852
bigger

357
00:01:59,852 --> 00:02:00,032
in

358
00:02:00,032 --> 00:02:00,172
terms

359
00:02:00,172 --> 00:02:00,412
of

360
00:02:00,412 --> 00:02:00,572
market

361
00:02:00,572 --> 00:02:00,912
cap.

362
00:02:01,152 --> 00:02:01,572
Right.

363
00:02:01,671 --> 00:02:01,891
But

364
00:02:01,891 --> 00:02:02,292
their

365
00:02:02,292 --> 00:02:02,531
share

366
00:02:02,531 --> 00:02:02,912
price

367
00:02:02,912 --> 00:02:03,371
is

368
00:02:03,371 --> 00:02:03,692
way

369
00:02:03,692 --> 00:02:04,152
higher.

370
00:02:04,311 --> 00:02:04,632
Interesting,

371
00:02:04,871 --> 00:02:05,111
yeah.

372
00:02:05,152 --> 00:02:05,371
Which

373
00:02:05,371 --> 00:02:05,552
says

374
00:02:05,552 --> 00:02:05,772
to

375
00:02:05,772 --> 00:02:06,072
me.

376
00:02:06,091 --> 00:02:06,352
Different

377
00:02:06,352 --> 00:02:06,792
strategies.

378
00:02:07,132 --> 00:02:07,412
Yeah.

379
00:02:07,552 --> 00:02:07,751
Different

380
00:02:07,751 --> 00:02:08,032
ways

381
00:02:08,032 --> 00:02:08,792
of

382
00:02:08,792 --> 00:02:09,012
going

383
00:02:09,012 --> 00:02:09,352
about

384
00:02:09,352 --> 00:02:09,611
it.

385
00:02:09,711 --> 00:02:09,872
It's

386
00:02:09,872 --> 00:02:09,951
like,

387
00:02:10,012 --> 00:02:10,092
what

388
00:02:10,092 --> 00:02:10,252
kind

389
00:02:10,252 --> 00:02:10,352
of

390
00:02:10,352 --> 00:02:10,711
investor

391
00:02:10,711 --> 00:02:10,891
are

392
00:02:10,891 --> 00:02:10,951
they

393
00:02:10,951 --> 00:02:11,151
going

394
00:02:11,151 --> 00:02:11,391
after?

395
00:02:11,512 --> 00:02:11,972
Exactly.

396
00:02:12,252 --> 00:02:12,491
Yeah.

397
00:02:12,572 --> 00:02:12,611
And

398
00:02:12,611 --> 00:02:13,252
that's,

399
00:02:13,252 --> 00:02:13,711
that's

400
00:02:13,711 --> 00:02:13,812
the

401
00:02:13,812 --> 00:02:14,092
question

402
00:02:14,092 --> 00:02:14,352
for

403
00:02:14,352 --> 00:02:14,592
you.

404
00:02:14,611 --> 00:02:14,812
Yeah.

405
00:02:14,991 --> 00:02:15,252
Like,

406
00:02:15,431 --> 00:02:15,572
who

407
00:02:15,572 --> 00:02:15,912
are

408
00:02:15,912 --> 00:02:16,292
you?

409
00:02:16,292 --> 00:02:16,491
Right.

410
00:02:16,632 --> 00:02:16,852
As

411
00:02:16,852 --> 00:02:16,951
an

412
00:02:16,951 --> 00:02:17,252
investor.

413
00:02:18,035 --> 00:02:18,435
Right,

414
00:02:18,515 --> 00:02:18,675
right.

415
00:02:18,935 --> 00:02:18,935
Are

416
00:02:18,935 --> 00:02:19,015
you

417
00:02:19,015 --> 00:02:19,215
the

418
00:02:19,215 --> 00:02:19,335
kind

419
00:02:19,335 --> 00:02:19,495
of

420
00:02:19,495 --> 00:02:19,795
investor

421
00:02:19,795 --> 00:02:20,475
who

422
00:02:20,475 --> 00:02:20,595
is,

423
00:02:20,595 --> 00:02:20,715
you

424
00:02:20,715 --> 00:02:21,415
know,

425
00:02:21,535 --> 00:02:21,715
wants

426
00:02:21,715 --> 00:02:21,895
to

427
00:02:21,895 --> 00:02:22,055
park

428
00:02:22,055 --> 00:02:22,255
their

429
00:02:22,255 --> 00:02:22,515
money

430
00:02:22,515 --> 00:02:22,855
somewhere

431
00:02:22,855 --> 00:02:23,075
and

432
00:02:23,075 --> 00:02:23,235
just

433
00:02:23,235 --> 00:02:23,355
see

434
00:02:23,355 --> 00:02:23,835
it

435
00:02:23,835 --> 00:02:23,835
like

436
00:02:23,835 --> 00:02:24,355
slowly

437
00:02:24,355 --> 00:02:24,895
steadily

438
00:02:24,895 --> 00:02:25,395
grow.

439
00:02:25,815 --> 00:02:25,815
Yeah.

440
00:02:26,235 --> 00:02:26,295
You're

441
00:02:26,295 --> 00:02:26,415
not

442
00:02:26,415 --> 00:02:26,635
in

443
00:02:26,635 --> 00:02:26,835
it

444
00:02:26,835 --> 00:02:27,035
for

445
00:02:27,035 --> 00:02:27,295
like

446
00:02:27,295 --> 00:02:27,835
the

447
00:02:27,835 --> 00:02:27,855
the

448
00:02:27,855 --> 00:02:28,115
quick,

449
00:02:28,235 --> 00:02:28,335
the

450
00:02:28,335 --> 00:02:28,515
quick

451
00:02:28,515 --> 00:02:28,995
jackpot

452
00:02:28,995 --> 00:02:29,475
or

453
00:02:29,475 --> 00:02:29,915
are

454
00:02:29,915 --> 00:02:30,075
you

455
00:02:30,075 --> 00:02:30,415
someone

456
00:02:30,415 --> 00:02:30,975
who's

457
00:02:30,975 --> 00:02:31,575
like,

458
00:02:32,235 --> 00:02:32,235
I

459
00:02:32,235 --> 00:02:32,415
want

460
00:02:32,415 --> 00:02:32,635
high

461
00:02:32,635 --> 00:02:33,055
growth.

462
00:02:33,495 --> 00:02:33,595
Yeah.

463
00:02:33,815 --> 00:02:33,955
I'm

464
00:02:33,955 --> 00:02:34,135
willing

465
00:02:34,135 --> 00:02:34,715
to

466
00:02:34,715 --> 00:02:35,055
take

467
00:02:35,055 --> 00:02:35,215
a

468
00:02:35,215 --> 00:02:35,375
little

469
00:02:35,375 --> 00:02:35,695
more

470
00:02:35,695 --> 00:02:36,015
risk.

471
00:02:36,831 --> 00:02:37,151
To

472
00:02:37,151 --> 00:02:37,611
see,

473
00:02:37,611 --> 00:02:37,611
you

474
00:02:37,611 --> 00:02:37,771
know,

475
00:02:37,912 --> 00:02:38,211
potentially

476
00:02:38,211 --> 00:02:38,632
bigger

477
00:02:38,632 --> 00:02:39,072
returns.

478
00:02:39,831 --> 00:02:40,012
And

479
00:02:40,012 --> 00:02:40,271
this

480
00:02:40,271 --> 00:02:40,572
is

481
00:02:40,572 --> 00:02:40,971
where,

482
00:02:40,991 --> 00:02:41,091
you

483
00:02:41,091 --> 00:02:41,572
know,

484
00:02:41,951 --> 00:02:42,111
really

485
00:02:42,111 --> 00:02:42,431
digging

486
00:02:42,431 --> 00:02:42,611
into

487
00:02:42,611 --> 00:02:42,831
the

488
00:02:42,831 --> 00:02:43,491
financials

489
00:02:43,491 --> 00:02:43,572
is

490
00:02:43,572 --> 00:02:43,751
going

491
00:02:43,751 --> 00:02:43,792
to

492
00:02:43,792 --> 00:02:44,111
help

493
00:02:44,111 --> 00:02:44,412
you

494
00:02:44,412 --> 00:02:44,651
figure

495
00:02:44,651 --> 00:02:44,931
that

496
00:02:44,931 --> 00:02:45,072
out

497
00:02:45,072 --> 00:02:45,292
because

498
00:02:45,292 --> 00:02:45,731
it

499
00:02:45,731 --> 00:02:45,871
can,

500
00:02:45,871 --> 00:02:45,871
it

501
00:02:45,871 --> 00:02:45,991
can

502
00:02:45,991 --> 00:02:46,171
give

503
00:02:46,171 --> 00:02:46,491
you

504
00:02:46,491 --> 00:02:46,891
a

505
00:02:46,891 --> 00:02:47,091
sense

506
00:02:47,091 --> 00:02:47,271
of

507
00:02:47,271 --> 00:02:47,471
that.

508
00:02:47,572 --> 00:02:47,792
Okay.

509
00:02:47,811 --> 00:02:47,931
So

510
00:02:47,931 --> 00:02:48,591
let's,

511
00:02:48,591 --> 00:02:48,731
let's

512
00:02:48,731 --> 00:02:48,931
pop

513
00:02:48,931 --> 00:02:49,091
the

514
00:02:49,091 --> 00:02:49,211
hood

515
00:02:49,211 --> 00:02:49,371
on

516
00:02:49,371 --> 00:02:49,512
these

517
00:02:49,512 --> 00:02:49,572
things.

518
00:02:49,572 --> 00:02:49,731
Yeah.

519
00:02:49,852 --> 00:02:49,912
See

520
00:02:49,912 --> 00:02:49,971
what

521
00:02:49,971 --> 00:02:50,031
we

522
00:02:50,031 --> 00:02:50,311
got.

523
00:02:50,391 --> 00:02:50,531
See

524
00:02:50,531 --> 00:02:50,611
what

525
00:02:50,611 --> 00:02:50,671
we

526
00:02:50,671 --> 00:02:50,692
got.

527
00:02:50,692 --> 00:02:50,692
See

528
00:02:50,692 --> 00:02:50,692
what

529
00:02:50,692 --> 00:02:50,692
we

530
00:02:50,692 --> 00:02:50,912
got.

531
00:02:50,912 --> 00:02:50,912
See

532
00:02:50,912 --> 00:02:50,912
what

533
00:02:50,912 --> 00:02:50,912
we

534
00:02:50,912 --> 00:02:50,971
got.

535
00:02:51,211 --> 00:02:51,371
See

536
00:02:51,371 --> 00:02:51,371
what

537
00:02:51,371 --> 00:02:51,371
we

538
00:02:51,371 --> 00:02:51,371
got.

539
00:02:51,471 --> 00:02:51,852
Let's

540
00:02:51,852 --> 00:02:51,991
start

541
00:02:51,991 --> 00:02:52,231
with

542
00:02:52,231 --> 00:02:52,651
revenue.

543
00:02:53,271 --> 00:02:53,572
Okay.

544
00:02:54,091 --> 00:02:54,231
And

545
00:02:54,231 --> 00:02:54,491
MB

546
00:02:54,491 --> 00:02:54,852
bank

547
00:02:54,852 --> 00:02:55,171
comes

548
00:02:55,171 --> 00:02:55,352
in

549
00:02:55,352 --> 00:02:56,031
just

550
00:02:56,031 --> 00:02:56,391
a

551
00:02:56,391 --> 00:02:57,051
higher

552
00:02:57,051 --> 00:02:57,792
than

553
00:02:57,792 --> 00:02:58,451
CRDB.

554
00:02:58,632 --> 00:02:58,911
Okay.

555
00:02:59,132 --> 00:02:59,331
We're

556
00:02:59,331 --> 00:02:59,792
talking

557
00:02:59,792 --> 00:03:01,252
TSH

558
00:03:01,252 --> 00:03:01,632
1

559
00:03:01,632 --> 00:03:02,252
.44

560
00:03:02,252 --> 00:03:02,971
trillion

561
00:03:02,971 --> 00:03:04,211
versus

562
00:03:04,211 --> 00:03:04,831
TSH

563
00:03:04,831 --> 00:03:05,211
1

564
00:03:05,211 --> 00:03:05,831
.42

565
00:03:05,831 --> 00:03:06,331
trillion.

566
00:03:06,331 --> 00:03:06,572
Yep.

567
00:03:06,783 --> 00:03:07,063
It's

568
00:03:07,063 --> 00:03:07,403
close.

569
00:03:07,563 --> 00:03:07,584
So

570
00:03:07,584 --> 00:03:07,763
neck

571
00:03:07,763 --> 00:03:07,923
and

572
00:03:07,923 --> 00:03:08,063
neck

573
00:03:08,063 --> 00:03:08,263
pretty

574
00:03:08,263 --> 00:03:08,483
much.

575
00:03:08,503 --> 00:03:08,743
Yeah

576
00:03:08,743 --> 00:03:08,983
revenue

577
00:03:08,983 --> 00:03:09,203
is

578
00:03:09,203 --> 00:03:09,524
close,

579
00:03:09,723 --> 00:03:09,823
but

580
00:03:09,823 --> 00:03:09,923
it's

581
00:03:09,923 --> 00:03:09,963
the

582
00:03:09,963 --> 00:03:10,043
only

583
00:03:10,043 --> 00:03:10,263
part

584
00:03:10,263 --> 00:03:10,343
of

585
00:03:10,343 --> 00:03:10,463
the

586
00:03:10,463 --> 00:03:10,864
picture.

587
00:03:11,223 --> 00:03:11,304
Right.

588
00:03:11,423 --> 00:03:11,563
You

589
00:03:11,563 --> 00:03:11,623
know,

590
00:03:11,683 --> 00:03:11,763
the

591
00:03:11,763 --> 00:03:11,943
real

592
00:03:11,943 --> 00:03:12,223
question

593
00:03:12,223 --> 00:03:12,804
is

594
00:03:12,804 --> 00:03:13,683
how

595
00:03:13,683 --> 00:03:13,903
much

596
00:03:13,903 --> 00:03:14,003
of

597
00:03:14,003 --> 00:03:14,203
that

598
00:03:14,203 --> 00:03:14,343
are

599
00:03:14,343 --> 00:03:14,483
they

600
00:03:14,483 --> 00:03:14,663
actually

601
00:03:14,663 --> 00:03:14,864
holding

602
00:03:14,864 --> 00:03:15,123
on

603
00:03:15,123 --> 00:03:15,364
to?

604
00:03:15,443 --> 00:03:15,623
Right.

605
00:03:15,763 --> 00:03:16,003
How

606
00:03:16,003 --> 00:03:16,383
much

607
00:03:16,383 --> 00:03:16,623
is

608
00:03:16,623 --> 00:03:17,003
trickling

609
00:03:17,003 --> 00:03:17,263
down

610
00:03:17,263 --> 00:03:17,503
into

611
00:03:17,503 --> 00:03:17,864
actual

612
00:03:17,864 --> 00:03:18,423
profit?

613
00:03:18,503 --> 00:03:18,783
Right.

614
00:03:18,883 --> 00:03:19,003
Because

615
00:03:19,003 --> 00:03:19,123
a

616
00:03:19,123 --> 00:03:19,364
company

617
00:03:19,364 --> 00:03:20,144
can

618
00:03:20,144 --> 00:03:20,343
can

619
00:03:20,343 --> 00:03:20,563
make

620
00:03:20,563 --> 00:03:20,703
a

621
00:03:20,703 --> 00:03:20,804
lot

622
00:03:20,804 --> 00:03:20,864
of

623
00:03:20,864 --> 00:03:21,084
money.

624
00:03:21,243 --> 00:03:21,343
But

625
00:03:21,343 --> 00:03:21,403
if

626
00:03:21,403 --> 00:03:21,584
they're

627
00:03:21,584 --> 00:03:21,843
spending

628
00:03:21,843 --> 00:03:22,103
at

629
00:03:22,103 --> 00:03:22,263
all.

630
00:03:22,283 --> 00:03:22,503
Right.

631
00:03:22,503 --> 00:03:22,603
If

632
00:03:22,603 --> 00:03:22,783
they're

633
00:03:22,783 --> 00:03:23,003
imaging

634
00:03:23,003 --> 00:03:23,343
money.

635
00:03:23,403 --> 00:03:23,503
It

636
00:03:23,503 --> 00:03:23,723
doesn't

637
00:03:23,723 --> 00:03:23,863
do

638
00:03:23,863 --> 00:03:24,003
us

639
00:03:24,003 --> 00:03:24,183
a

640
00:03:24,183 --> 00:03:24,283
lot

641
00:03:24,283 --> 00:03:24,423
of

642
00:03:24,423 --> 00:03:24,623
good.

643
00:03:25,183 --> 00:03:25,183
Exactly.

644
00:03:25,463 --> 00:03:25,584
Exactly.

645
00:03:25,723 --> 00:03:25,943
Okay.

646
00:03:25,943 --> 00:03:26,103
So

647
00:03:26,103 --> 00:03:26,283
let's

648
00:03:26,283 --> 00:03:26,483
look

649
00:03:26,483 --> 00:03:26,603
at

650
00:03:26,603 --> 00:03:26,883
that

651
00:03:26,883 --> 00:03:27,363
profitability

652
00:03:27,363 --> 00:03:27,963
then.

653
00:03:28,024 --> 00:03:28,204
Let's

654
00:03:28,204 --> 00:03:28,363
do

655
00:03:28,363 --> 00:03:28,563
it.

656
00:03:28,563 --> 00:03:28,743
This

657
00:03:28,743 --> 00:03:28,903
is

658
00:03:28,903 --> 00:03:28,983
where

659
00:03:28,983 --> 00:03:29,163
we

660
00:03:29,163 --> 00:03:29,304
see

661
00:03:29,304 --> 00:03:29,543
how

662
00:03:29,543 --> 00:03:29,923
efficiently

663
00:03:29,923 --> 00:03:30,363
they're

664
00:03:30,363 --> 00:03:30,704
actually

665
00:03:30,704 --> 00:03:30,983
running.

666
00:03:31,123 --> 00:03:31,363
Right.

667
00:03:31,663 --> 00:03:31,743
Yeah.

668
00:03:32,183 --> 00:03:32,263
Are

669
00:03:32,263 --> 00:03:32,503
they

670
00:03:32,503 --> 00:03:32,923
managing

671
00:03:32,923 --> 00:03:33,323
their

672
00:03:33,323 --> 00:03:33,603
costs

673
00:03:33,603 --> 00:03:33,963
well?

674
00:03:34,003 --> 00:03:34,363
Right.

675
00:03:34,563 --> 00:03:34,704
That

676
00:03:34,704 --> 00:03:34,823
kind

677
00:03:34,823 --> 00:03:34,963
of

678
00:03:34,963 --> 00:03:35,084
thing.

679
00:03:35,408 --> 00:03:35,888
So

680
00:03:35,888 --> 00:03:35,988
N

681
00:03:35,988 --> 00:03:36,248
&B

682
00:03:36,248 --> 00:03:36,548
bank,

683
00:03:36,628 --> 00:03:36,828
they're

684
00:03:36,828 --> 00:03:37,288
reporting

685
00:03:37,288 --> 00:03:38,128
Tsh

686
00:03:38,128 --> 00:03:39,268
596

687
00:03:39,268 --> 00:03:40,248
.97

688
00:03:40,248 --> 00:03:40,908
billion

689
00:03:40,908 --> 00:03:41,108
in

690
00:03:41,108 --> 00:03:41,608
earnings.

691
00:03:41,728 --> 00:03:42,028
Okay.

692
00:03:42,408 --> 00:03:42,608
With

693
00:03:42,608 --> 00:03:42,868
a

694
00:03:42,868 --> 00:03:43,108
net

695
00:03:43,108 --> 00:03:43,468
profit

696
00:03:43,468 --> 00:03:43,808
margin

697
00:03:43,808 --> 00:03:44,128
of

698
00:03:44,128 --> 00:03:44,408
41

699
00:03:44,408 --> 00:03:45,268
.59

700
00:03:45,268 --> 00:03:46,048
percent.

701
00:03:47,028 --> 00:03:47,668
CRDB,

702
00:03:48,448 --> 00:03:48,488
they're

703
00:03:48,488 --> 00:03:48,748
coming

704
00:03:48,748 --> 00:03:49,068
in

705
00:03:49,068 --> 00:03:49,528
with

706
00:03:49,528 --> 00:03:49,968
Tsh

707
00:03:49,968 --> 00:03:50,968
519

708
00:03:50,968 --> 00:03:51,868
.69

709
00:03:51,868 --> 00:03:52,408
billion

710
00:03:52,408 --> 00:03:52,628
in

711
00:03:52,628 --> 00:03:53,108
earnings.

712
00:03:53,208 --> 00:03:53,388
Yeah.

713
00:03:53,528 --> 00:03:53,728
And

714
00:03:53,728 --> 00:03:53,948
a

715
00:03:53,948 --> 00:03:54,328
36

716
00:03:54,328 --> 00:03:55,248
.53

717
00:03:55,248 --> 00:03:55,888
percent

718
00:03:55,888 --> 00:03:56,308
profit

719
00:03:56,308 --> 00:03:56,688
margin.

720
00:03:56,908 --> 00:03:57,128
Okay.

721
00:03:57,588 --> 00:03:57,728
So

722
00:03:57,728 --> 00:03:57,848
N

723
00:03:57,848 --> 00:03:58,428
&B...

724
00:03:58,428 --> 00:03:58,648
Then

725
00:03:58,648 --> 00:03:58,908
N

726
00:03:58,908 --> 00:03:59,068
&B

727
00:03:59,068 --> 00:03:59,268
looks

728
00:03:59,268 --> 00:03:59,468
like

729
00:03:59,468 --> 00:03:59,548
they're

730
00:03:59,548 --> 00:03:59,748
doing

731
00:03:59,748 --> 00:04:00,228
a

732
00:04:00,228 --> 00:04:00,428
better

733
00:04:00,428 --> 00:04:00,888
job

734
00:04:00,888 --> 00:04:01,348
of

735
00:04:01,348 --> 00:04:01,888
squeezing

736
00:04:01,888 --> 00:04:02,788
profit

737
00:04:02,788 --> 00:04:03,068
out

738
00:04:03,068 --> 00:04:03,208
of

739
00:04:03,208 --> 00:04:03,648
every

740
00:04:03,648 --> 00:04:04,208
shilling

741
00:04:04,208 --> 00:04:04,408
they

742
00:04:04,408 --> 00:04:04,608
bring

743
00:04:04,608 --> 00:04:04,928
in.

744
00:04:04,992 --> 00:04:05,372
Right,

745
00:04:05,572 --> 00:04:05,712
yeah,

746
00:04:05,832 --> 00:04:06,172
they're

747
00:04:06,172 --> 00:04:06,472
making

748
00:04:06,472 --> 00:04:06,892
more

749
00:04:06,892 --> 00:04:07,092
from

750
00:04:07,092 --> 00:04:07,332
what

751
00:04:07,332 --> 00:04:07,492
they

752
00:04:07,492 --> 00:04:07,672
what

753
00:04:07,672 --> 00:04:07,732
they're

754
00:04:07,732 --> 00:04:08,012
bringing

755
00:04:08,012 --> 00:04:08,212
in,

756
00:04:08,412 --> 00:04:08,652
which

757
00:04:08,652 --> 00:04:08,872
is

758
00:04:08,872 --> 00:04:08,952
a

759
00:04:08,952 --> 00:04:09,132
good

760
00:04:09,132 --> 00:04:09,352
sign

761
00:04:09,352 --> 00:04:09,492
for

762
00:04:09,492 --> 00:04:09,852
investors,

763
00:04:10,312 --> 00:04:10,372
right?

764
00:04:10,692 --> 00:04:10,712
It

765
00:04:10,712 --> 00:04:11,092
is,

766
00:04:11,352 --> 00:04:11,472
yeah.

767
00:04:11,812 --> 00:04:11,912
But

768
00:04:11,912 --> 00:04:12,092
again,

769
00:04:12,392 --> 00:04:12,732
it's

770
00:04:12,732 --> 00:04:12,912
not

771
00:04:12,912 --> 00:04:13,252
just

772
00:04:13,252 --> 00:04:13,752
about

773
00:04:13,752 --> 00:04:14,252
the

774
00:04:14,252 --> 00:04:14,452
what,

775
00:04:14,712 --> 00:04:14,852
it's

776
00:04:14,852 --> 00:04:15,112
about

777
00:04:15,112 --> 00:04:15,712
the

778
00:04:15,712 --> 00:04:16,152
why.

779
00:04:16,752 --> 00:04:16,831
Right.

780
00:04:16,831 --> 00:04:17,052
Okay,

781
00:04:17,172 --> 00:04:17,312
right.

782
00:04:17,492 --> 00:04:17,652
So

783
00:04:17,652 --> 00:04:17,852
we

784
00:04:17,852 --> 00:04:18,032
see

785
00:04:18,032 --> 00:04:18,192
that

786
00:04:18,192 --> 00:04:18,372
they're

787
00:04:18,372 --> 00:04:18,692
profitable.

788
00:04:18,972 --> 00:04:19,212
Right.

789
00:04:19,375 --> 00:04:19,695
But

790
00:04:19,695 --> 00:04:19,935
why

791
00:04:19,935 --> 00:04:20,115
are

792
00:04:20,115 --> 00:04:20,295
they

793
00:04:20,295 --> 00:04:20,695
profitable?

794
00:04:21,135 --> 00:04:21,135
Yeah.

795
00:04:21,375 --> 00:04:21,596
Like

796
00:04:21,596 --> 00:04:21,875
what

797
00:04:21,875 --> 00:04:22,015
do

798
00:04:22,015 --> 00:04:22,235
they

799
00:04:22,235 --> 00:04:22,555
do

800
00:04:22,555 --> 00:04:22,755
it?

801
00:04:23,055 --> 00:04:23,055
Yeah.

802
00:04:23,235 --> 00:04:23,395
Wait,

803
00:04:23,555 --> 00:04:23,795
what's

804
00:04:23,795 --> 00:04:23,895
what's

805
00:04:23,895 --> 00:04:24,015
the

806
00:04:24,015 --> 00:04:24,315
secret

807
00:04:24,315 --> 00:04:24,675
saw?

808
00:04:24,795 --> 00:04:25,315
Exactly.

809
00:04:25,555 --> 00:04:25,615
Is

810
00:04:25,615 --> 00:04:25,875
it,

811
00:04:25,975 --> 00:04:25,975
you

812
00:04:25,975 --> 00:04:26,275
know,

813
00:04:26,475 --> 00:04:26,555
are

814
00:04:26,555 --> 00:04:26,655
they

815
00:04:26,655 --> 00:04:26,935
just

816
00:04:26,935 --> 00:04:27,175
really

817
00:04:27,175 --> 00:04:27,435
good

818
00:04:27,435 --> 00:04:27,635
at

819
00:04:27,635 --> 00:04:27,915
managing

820
00:04:27,915 --> 00:04:28,355
their

821
00:04:28,355 --> 00:04:28,675
internal

822
00:04:28,675 --> 00:04:29,195
costs?

823
00:04:29,315 --> 00:04:29,675
Okay.

824
00:04:29,855 --> 00:04:30,175
Are

825
00:04:30,175 --> 00:04:30,335
the

826
00:04:30,335 --> 00:04:30,655
loans

827
00:04:30,655 --> 00:04:30,875
they're

828
00:04:30,875 --> 00:04:31,115
giving

829
00:04:31,115 --> 00:04:31,635
out

830
00:04:31,635 --> 00:04:32,055
performing

831
00:04:32,055 --> 00:04:32,455
really

832
00:04:32,455 --> 00:04:32,735
well?

833
00:04:32,735 --> 00:04:33,055
Right.

834
00:04:33,135 --> 00:04:33,355
Have

835
00:04:33,355 --> 00:04:33,915
they,

836
00:04:33,915 --> 00:04:34,395
you

837
00:04:34,395 --> 00:04:34,596
know,

838
00:04:34,675 --> 00:04:34,955
made

839
00:04:34,955 --> 00:04:35,375
some

840
00:04:35,375 --> 00:04:35,875
smart

841
00:04:35,875 --> 00:04:36,635
investments

842
00:04:36,635 --> 00:04:38,235
in

843
00:04:38,235 --> 00:04:38,735
technology?

844
00:04:39,155 --> 00:04:39,155
Yeah.

845
00:04:39,215 --> 00:04:39,735
Streamline,

846
00:04:40,015 --> 00:04:40,015
some

847
00:04:40,015 --> 00:04:40,295
things.

848
00:04:40,455 --> 00:04:40,955
Streamline,

849
00:04:41,175 --> 00:04:41,175
some

850
00:04:41,175 --> 00:04:41,375
things.

851
00:04:41,635 --> 00:04:41,635
Yeah.

852
00:04:41,755 --> 00:04:41,915
Made

853
00:04:41,915 --> 00:04:42,195
themselves

854
00:04:42,195 --> 00:04:42,536
more

855
00:04:42,536 --> 00:04:42,875
efficient.

856
00:04:43,055 --> 00:04:43,315
Right.

857
00:04:43,975 --> 00:04:43,975
Right.

858
00:04:44,355 --> 00:04:44,555
These

859
00:04:44,555 --> 00:04:44,735
are

860
00:04:44,735 --> 00:04:44,735
the

861
00:04:44,735 --> 00:04:45,135
questions

862
00:04:45,135 --> 00:04:45,596
that

863
00:04:45,632 --> 00:04:45,932
that

864
00:04:45,932 --> 00:04:46,432
you

865
00:04:46,432 --> 00:04:46,572
want

866
00:04:46,572 --> 00:04:46,692
to

867
00:04:46,692 --> 00:04:46,852
be

868
00:04:46,852 --> 00:04:47,151
asking.

869
00:04:47,692 --> 00:04:47,692
Okay.

870
00:04:47,752 --> 00:04:47,872
So

871
00:04:47,872 --> 00:04:48,211
it's

872
00:04:48,211 --> 00:04:48,211
like

873
00:04:48,211 --> 00:04:48,492
it's

874
00:04:48,492 --> 00:04:48,672
not

875
00:04:48,672 --> 00:04:48,891
enough

876
00:04:48,891 --> 00:04:49,012
to

877
00:04:49,012 --> 00:04:49,331
just

878
00:04:49,331 --> 00:04:49,531
see

879
00:04:49,531 --> 00:04:50,232
the

880
00:04:50,232 --> 00:04:50,451
the

881
00:04:50,451 --> 00:04:50,612
end

882
00:04:50,612 --> 00:04:50,911
result.

883
00:04:51,252 --> 00:04:51,352
It's

884
00:04:51,352 --> 00:04:51,432
got

885
00:04:51,432 --> 00:04:51,552
to

886
00:04:51,552 --> 00:04:51,692
be

887
00:04:51,692 --> 00:04:51,872
like,

888
00:04:52,012 --> 00:04:52,012
well,

889
00:04:52,012 --> 00:04:52,132
how

890
00:04:52,132 --> 00:04:52,271
did

891
00:04:52,271 --> 00:04:52,411
you

892
00:04:52,411 --> 00:04:52,612
get

893
00:04:52,612 --> 00:04:52,971
there?

894
00:04:52,971 --> 00:04:53,372
Exactly.

895
00:04:53,492 --> 00:04:53,732
Okay.

896
00:04:53,732 --> 00:04:53,872
That

897
00:04:53,872 --> 00:04:54,091
makes

898
00:04:54,091 --> 00:04:54,312
sense.

899
00:04:54,312 --> 00:04:54,451
That

900
00:04:54,451 --> 00:04:54,612
makes

901
00:04:54,612 --> 00:04:54,792
sense.

902
00:04:54,792 --> 00:04:54,992
Yeah.

903
00:04:55,591 --> 00:04:55,831
All

904
00:04:55,831 --> 00:04:55,831
right.

905
00:04:55,872 --> 00:04:56,072
Well,

906
00:04:56,072 --> 00:04:56,411
speaking

907
00:04:56,411 --> 00:04:56,891
of

908
00:04:56,891 --> 00:04:57,391
efficiency,

909
00:04:58,411 --> 00:04:58,672
let's

910
00:04:58,672 --> 00:04:59,031
talk

911
00:04:59,031 --> 00:05:00,091
ROE.

912
00:05:00,132 --> 00:05:00,372
Yeah.

913
00:05:00,632 --> 00:05:00,992
Return

914
00:05:00,992 --> 00:05:01,292
on

915
00:05:01,292 --> 00:05:01,732
equity.

916
00:05:02,031 --> 00:05:02,232
A

917
00:05:02,232 --> 00:05:02,451
big

918
00:05:02,451 --> 00:05:02,692
one.

919
00:05:02,891 --> 00:05:03,052
It

920
00:05:03,052 --> 00:05:03,232
is

921
00:05:03,232 --> 00:05:03,351
a

922
00:05:03,351 --> 00:05:03,512
big

923
00:05:03,512 --> 00:05:03,672
one.

924
00:05:03,711 --> 00:05:03,992
This

925
00:05:03,992 --> 00:05:04,172
is,

926
00:05:04,172 --> 00:05:04,351
this

927
00:05:04,351 --> 00:05:04,552
is

928
00:05:04,552 --> 00:05:04,692
a

929
00:05:04,692 --> 00:05:05,052
favorite

930
00:05:05,052 --> 00:05:05,692
for

931
00:05:05,692 --> 00:05:06,211
investors.

932
00:05:06,471 --> 00:05:06,672
For

933
00:05:06,672 --> 00:05:07,012
investors.

934
00:05:07,072 --> 00:05:07,312
Yeah,

935
00:05:07,312 --> 00:05:07,552
because

936
00:05:07,552 --> 00:05:07,812
this

937
00:05:07,812 --> 00:05:08,031
tells

938
00:05:08,031 --> 00:05:08,372
you

939
00:05:08,372 --> 00:05:08,792
how

940
00:05:08,792 --> 00:05:09,031
much

941
00:05:09,031 --> 00:05:09,391
profit

942
00:05:09,391 --> 00:05:09,591
are

943
00:05:09,591 --> 00:05:09,711
you

944
00:05:09,711 --> 00:05:10,052
actually

945
00:05:10,052 --> 00:05:10,692
getting

946
00:05:10,692 --> 00:05:11,412
for

947
00:05:11,412 --> 00:05:11,711
every

948
00:05:11,711 --> 00:05:12,151
dollar

949
00:05:12,151 --> 00:05:12,591
or

950
00:05:12,591 --> 00:05:12,792
shilling

951
00:05:12,792 --> 00:05:12,992
in

952
00:05:12,992 --> 00:05:13,132
this

953
00:05:13,132 --> 00:05:13,192
case.

954
00:05:13,192 --> 00:05:13,692
Right.

955
00:05:13,992 --> 00:05:14,091
Right.

956
00:05:14,091 --> 00:05:14,151
If

957
00:05:14,151 --> 00:05:14,271
you

958
00:05:14,271 --> 00:05:14,432
put

959
00:05:14,432 --> 00:05:14,851
in.

960
00:05:14,912 --> 00:05:15,112
Yeah.

961
00:05:15,536 --> 00:05:16,196
It's

962
00:05:16,196 --> 00:05:16,336
like

963
00:05:16,336 --> 00:05:16,675
how

964
00:05:16,675 --> 00:05:16,896
how

965
00:05:16,896 --> 00:05:17,055
is

966
00:05:17,055 --> 00:05:17,256
my

967
00:05:17,256 --> 00:05:17,576
money

968
00:05:17,576 --> 00:05:17,896
working

969
00:05:17,896 --> 00:05:18,136
for

970
00:05:18,136 --> 00:05:18,896
me?

971
00:05:19,235 --> 00:05:19,555
exactly.

972
00:05:19,995 --> 00:05:19,995
Okay.

973
00:05:20,175 --> 00:05:20,336
All

974
00:05:20,336 --> 00:05:20,396
right.

975
00:05:20,516 --> 00:05:20,756
So

976
00:05:20,756 --> 00:05:21,136
NMB.

977
00:05:21,696 --> 00:05:21,696
Yeah.

978
00:05:21,696 --> 00:05:21,915
They're

979
00:05:21,915 --> 00:05:22,276
showing

980
00:05:22,276 --> 00:05:22,795
26

981
00:05:22,795 --> 00:05:23,315
.8

982
00:05:23,315 --> 00:05:24,175
percent.

983
00:05:24,435 --> 00:05:24,555
Okay.

984
00:05:24,896 --> 00:05:25,276
CRDB

985
00:05:25,276 --> 00:05:25,576
a

986
00:05:25,576 --> 00:05:25,735
little

987
00:05:25,735 --> 00:05:25,896
bit

988
00:05:25,896 --> 00:05:26,156
lower.

989
00:05:26,355 --> 00:05:26,716
23

990
00:05:26,716 --> 00:05:27,276
.8

991
00:05:27,276 --> 00:05:27,696
percent.

992
00:05:27,896 --> 00:05:27,935
All

993
00:05:27,935 --> 00:05:28,036
right.

994
00:05:28,636 --> 00:05:28,896
So

995
00:05:28,896 --> 00:05:29,036
so

996
00:05:29,036 --> 00:05:29,396
NMB

997
00:05:29,396 --> 00:05:29,896
again.

998
00:05:29,956 --> 00:05:30,136
Yeah.

999
00:05:30,235 --> 00:05:30,555
They're

1000
00:05:30,555 --> 00:05:30,716
they're

1001
00:05:30,716 --> 00:05:30,756
looking

1002
00:05:30,756 --> 00:05:31,216
good.

1003
00:05:31,375 --> 00:05:31,516
They're

1004
00:05:31,516 --> 00:05:31,696
looking

1005
00:05:31,696 --> 00:05:31,875
good

1006
00:05:31,875 --> 00:05:31,975
on

1007
00:05:31,975 --> 00:05:32,396
paper.

1008
00:05:32,495 --> 00:05:32,656
Yeah.

1009
00:05:32,656 --> 00:05:32,855
Which

1010
00:05:32,855 --> 00:05:32,975
is

1011
00:05:32,975 --> 00:05:33,375
interesting.

1012
00:05:33,536 --> 00:05:33,855
Because

1013
00:05:33,855 --> 00:05:34,016
when

1014
00:05:34,016 --> 00:05:34,115
we

1015
00:05:34,115 --> 00:05:34,276
look

1016
00:05:34,276 --> 00:05:34,495
at

1017
00:05:34,495 --> 00:05:34,675
share

1018
00:05:34,675 --> 00:05:35,055
price

1019
00:05:35,055 --> 00:05:35,675
CRDB

1020
00:05:35,675 --> 00:05:35,935
has

1021
00:05:35,935 --> 00:05:36,115
been

1022
00:05:36,115 --> 00:05:36,276
the

1023
00:05:36,276 --> 00:05:36,435
one

1024
00:05:36,435 --> 00:05:36,716
that's

1025
00:05:36,716 --> 00:05:36,956
like

1026
00:05:36,956 --> 00:05:37,755
really

1027
00:05:37,755 --> 00:05:38,136
kind

1028
00:05:38,136 --> 00:05:38,355
of

1029
00:05:38,355 --> 00:05:38,975
exploded

1030
00:05:38,975 --> 00:05:39,576
recently.

1031
00:05:39,656 --> 00:05:39,836
We'll

1032
00:05:39,836 --> 00:05:40,196
volatile.

1033
00:05:40,576 --> 00:05:40,875
Yeah.

1034
00:05:41,235 --> 00:05:41,415
Yeah.

1035
00:05:41,536 --> 00:05:41,555
Yeah.

1036
00:05:41,576 --> 00:05:41,656
And

1037
00:05:41,656 --> 00:05:42,076
plus

1038
00:05:42,076 --> 00:05:42,336
plus

1039
00:05:42,336 --> 00:05:42,536
they're

1040
00:05:42,536 --> 00:05:42,816
offering

1041
00:05:42,816 --> 00:05:43,536
a.

1042
00:05:43,567 --> 00:05:43,967
Better

1043
00:05:43,967 --> 00:05:44,347
dividend

1044
00:05:44,347 --> 00:05:44,827
yield.

1045
00:05:45,267 --> 00:05:45,267
They

1046
00:05:45,267 --> 00:05:45,608
are.

1047
00:05:45,668 --> 00:05:45,867
Yeah.

1048
00:05:45,967 --> 00:05:46,147
That's

1049
00:05:46,147 --> 00:05:46,347
true.

1050
00:05:46,567 --> 00:05:46,827
9

1051
00:05:46,827 --> 00:05:47,387
percent.

1052
00:05:47,447 --> 00:05:47,548
Yeah.

1053
00:05:47,587 --> 00:05:47,747
9

1054
00:05:47,747 --> 00:05:48,067
percent.

1055
00:05:48,168 --> 00:05:48,527
Compared

1056
00:05:48,527 --> 00:05:48,907
to

1057
00:05:48,907 --> 00:05:49,668
NMB's.

1058
00:05:49,747 --> 00:05:49,767
What

1059
00:05:49,767 --> 00:05:49,887
was

1060
00:05:49,887 --> 00:05:49,987
it

1061
00:05:49,987 --> 00:05:50,207
like?

1062
00:05:50,747 --> 00:05:50,747
6

1063
00:05:50,747 --> 00:05:51,567
.8.

1064
00:05:52,027 --> 00:05:52,027
Yeah.

1065
00:05:52,147 --> 00:05:52,327
6

1066
00:05:52,327 --> 00:05:52,827
.8.

1067
00:05:53,507 --> 00:05:53,567
Which

1068
00:05:53,567 --> 00:05:53,807
is

1069
00:05:53,807 --> 00:05:54,127
still

1070
00:05:54,127 --> 00:05:54,387
nothing

1071
00:05:54,387 --> 00:05:54,587
to

1072
00:05:54,587 --> 00:05:54,788
sneeze

1073
00:05:54,788 --> 00:05:55,187
at.

1074
00:05:55,247 --> 00:05:55,587
No.

1075
00:05:55,847 --> 00:05:56,048
Not

1076
00:05:56,048 --> 00:05:56,187
at

1077
00:05:56,187 --> 00:05:56,327
all.

1078
00:05:56,507 --> 00:05:56,767
But,

1079
00:05:56,807 --> 00:05:56,867
you

1080
00:05:56,867 --> 00:05:57,048
know,

1081
00:05:57,187 --> 00:05:57,228
I

1082
00:05:57,228 --> 00:05:57,407
like

1083
00:05:57,407 --> 00:05:57,767
a

1084
00:05:57,767 --> 00:05:58,027
little

1085
00:05:58,027 --> 00:05:58,367
passive

1086
00:05:58,367 --> 00:05:58,887
income.

1087
00:05:59,147 --> 00:05:59,267
Of

1088
00:05:59,267 --> 00:05:59,527
course.

1089
00:05:59,767 --> 00:05:59,927
Who

1090
00:05:59,927 --> 00:06:00,307
doesn't.

1091
00:06:00,567 --> 00:06:00,567
Right.

1092
00:06:00,767 --> 00:06:01,067
Right.

1093
00:06:01,067 --> 00:06:01,207
That

1094
00:06:01,207 --> 00:06:01,447
9

1095
00:06:01,447 --> 00:06:01,747
percent

1096
00:06:01,747 --> 00:06:02,168
is

1097
00:06:02,168 --> 00:06:02,548
it's

1098
00:06:02,576 --> 00:06:03,076
awfully

1099
00:06:03,076 --> 00:06:03,496
tempting?

1100
00:06:03,736 --> 00:06:03,776
It

1101
00:06:03,776 --> 00:06:03,975
is

1102
00:06:03,975 --> 00:06:04,236
tempting.

1103
00:06:04,475 --> 00:06:04,636
And

1104
00:06:04,636 --> 00:06:04,816
it

1105
00:06:04,816 --> 00:06:05,076
might

1106
00:06:05,076 --> 00:06:05,256
be

1107
00:06:05,256 --> 00:06:05,396
the

1108
00:06:05,396 --> 00:06:05,576
right

1109
00:06:05,576 --> 00:06:05,796
move

1110
00:06:05,796 --> 00:06:05,975
for

1111
00:06:05,975 --> 00:06:06,176
some

1112
00:06:06,176 --> 00:06:06,556
investors.

1113
00:06:07,296 --> 00:06:07,296
Yeah.

1114
00:06:07,296 --> 00:06:07,636
Especially

1115
00:06:07,636 --> 00:06:07,936
if

1116
00:06:07,936 --> 00:06:08,076
you're

1117
00:06:08,076 --> 00:06:08,216
if

1118
00:06:08,216 --> 00:06:08,396
you're

1119
00:06:08,396 --> 00:06:08,656
really

1120
00:06:08,656 --> 00:06:08,956
focused

1121
00:06:08,956 --> 00:06:09,156
on

1122
00:06:09,156 --> 00:06:09,336
that

1123
00:06:09,336 --> 00:06:09,596
income.

1124
00:06:09,676 --> 00:06:09,975
Right.

1125
00:06:10,156 --> 00:06:10,436
But

1126
00:06:10,436 --> 00:06:10,716
it's

1127
00:06:10,716 --> 00:06:10,855
it's

1128
00:06:10,855 --> 00:06:10,956
all

1129
00:06:10,956 --> 00:06:11,616
about

1130
00:06:11,616 --> 00:06:12,336
understanding

1131
00:06:12,336 --> 00:06:12,656
the

1132
00:06:12,656 --> 00:06:12,855
trade

1133
00:06:12,855 --> 00:06:13,176
-offs.

1134
00:06:13,296 --> 00:06:13,456
Right.

1135
00:06:13,676 --> 00:06:13,896
Okay.

1136
00:06:14,396 --> 00:06:14,456
Because

1137
00:06:14,456 --> 00:06:15,156
sometimes

1138
00:06:15,156 --> 00:06:15,896
a

1139
00:06:15,896 --> 00:06:16,116
company

1140
00:06:16,116 --> 00:06:16,475
will

1141
00:06:16,475 --> 00:06:16,915
offer

1142
00:06:16,915 --> 00:06:17,376
a

1143
00:06:17,376 --> 00:06:17,556
higher

1144
00:06:17,556 --> 00:06:17,956
dividend

1145
00:06:17,956 --> 00:06:18,236
if

1146
00:06:18,236 --> 00:06:18,316
they

1147
00:06:18,316 --> 00:06:18,456
don't

1148
00:06:18,456 --> 00:06:18,616
have

1149
00:06:18,616 --> 00:06:18,776
as

1150
00:06:18,776 --> 00:06:18,915
many

1151
00:06:18,915 --> 00:06:19,116
high

1152
00:06:19,116 --> 00:06:19,296
growth

1153
00:06:19,296 --> 00:06:19,676
opportunities.

1154
00:06:20,156 --> 00:06:20,556
Okay.

1155
00:06:20,996 --> 00:06:20,996
Okay.

1156
00:06:21,036 --> 00:06:21,196
So

1157
00:06:21,196 --> 00:06:21,556
it's

1158
00:06:21,556 --> 00:06:21,616
it's

1159
00:06:21,616 --> 00:06:21,776
kind

1160
00:06:21,776 --> 00:06:21,876
of

1161
00:06:21,876 --> 00:06:22,196
like,

1162
00:06:22,196 --> 00:06:22,276
you

1163
00:06:22,276 --> 00:06:22,475
know,

1164
00:06:22,616 --> 00:06:22,776
right.

1165
00:06:22,896 --> 00:06:22,956
They

1166
00:06:22,956 --> 00:06:23,116
got

1167
00:06:23,116 --> 00:06:23,376
to

1168
00:06:23,376 --> 00:06:23,376
they

1169
00:06:23,376 --> 00:06:23,536
got

1170
00:06:23,536 --> 00:06:23,656
to

1171
00:06:23,656 --> 00:06:24,016
entice

1172
00:06:24,016 --> 00:06:24,296
you

1173
00:06:24,296 --> 00:06:24,616
somehow.

1174
00:06:24,776 --> 00:06:25,176
Exactly.

1175
00:06:25,776 --> 00:06:25,855
Exactly.

1176
00:06:25,956 --> 00:06:26,116
Exactly.

1177
00:06:26,116 --> 00:06:26,316
Okay.

1178
00:06:26,316 --> 00:06:26,456
It's

1179
00:06:26,456 --> 00:06:26,576
all

1180
00:06:26,576 --> 00:06:26,756
part

1181
00:06:26,756 --> 00:06:26,816
of

1182
00:06:26,816 --> 00:06:26,975
their

1183
00:06:26,975 --> 00:06:27,336
strategy.

1184
00:06:27,736 --> 00:06:28,056
Interesting.

1185
00:06:28,536 --> 00:06:28,616
Be

1186
00:06:28,616 --> 00:06:28,716
on

1187
00:06:28,716 --> 00:06:28,855
the

1188
00:06:28,855 --> 00:06:29,136
balance

1189
00:06:29,136 --> 00:06:29,415
sheet,

1190
00:06:29,996 --> 00:06:29,996
huh?

1191
00:06:30,415 --> 00:06:30,716
Sand's

1192
00:06:30,716 --> 00:06:30,816
kind

1193
00:06:30,816 --> 00:06:30,915
of

1194
00:06:30,915 --> 00:06:31,336
mysterious.

1195
00:06:31,636 --> 00:06:31,956
What's?

1196
00:06:32,208 --> 00:06:32,528
What's

1197
00:06:32,528 --> 00:06:32,768
behind

1198
00:06:32,768 --> 00:06:32,968
the

1199
00:06:32,968 --> 00:06:33,168
curtain

1200
00:06:33,168 --> 00:06:33,808
here?

1201
00:06:34,268 --> 00:06:34,388
Well,

1202
00:06:34,528 --> 00:06:34,588
one

1203
00:06:34,588 --> 00:06:34,728
thing

1204
00:06:34,728 --> 00:06:34,968
to

1205
00:06:34,968 --> 00:06:35,208
consider

1206
00:06:35,208 --> 00:06:35,468
is

1207
00:06:35,468 --> 00:06:35,748
ownership

1208
00:06:35,748 --> 00:06:36,308
structure,

1209
00:06:36,628 --> 00:06:36,788
like

1210
00:06:36,788 --> 00:06:37,008
who

1211
00:06:37,008 --> 00:06:37,448
actually

1212
00:06:37,448 --> 00:06:37,748
owns

1213
00:06:37,748 --> 00:06:38,048
these

1214
00:06:38,048 --> 00:06:38,208
companies?

1215
00:06:38,248 --> 00:06:38,628
Okay,

1216
00:06:38,788 --> 00:06:38,868
yeah,

1217
00:06:38,868 --> 00:06:39,048
who

1218
00:06:39,048 --> 00:06:39,168
are

1219
00:06:39,168 --> 00:06:39,248
the

1220
00:06:39,248 --> 00:06:39,388
big

1221
00:06:39,388 --> 00:06:39,708
players?

1222
00:06:39,948 --> 00:06:40,308
Exactly,

1223
00:06:40,928 --> 00:06:40,928
so

1224
00:06:40,928 --> 00:06:41,408
with

1225
00:06:41,408 --> 00:06:41,748
NMB

1226
00:06:41,748 --> 00:06:42,268
bank,

1227
00:06:42,608 --> 00:06:42,868
you've

1228
00:06:42,868 --> 00:06:43,168
got

1229
00:06:43,168 --> 00:06:43,368
a

1230
00:06:43,368 --> 00:06:43,608
pretty

1231
00:06:43,608 --> 00:06:44,108
significant

1232
00:06:44,108 --> 00:06:44,528
chunk,

1233
00:06:44,668 --> 00:06:44,708
like

1234
00:06:44,708 --> 00:06:45,268
34

1235
00:06:45,268 --> 00:06:45,987
.9

1236
00:06:45,987 --> 00:06:46,468
%

1237
00:06:46,468 --> 00:06:46,588
Oh,

1238
00:06:46,748 --> 00:06:46,868
yeah.

1239
00:06:47,008 --> 00:06:47,328
That's

1240
00:06:47,328 --> 00:06:47,528
held

1241
00:06:47,528 --> 00:06:48,588
by,

1242
00:06:48,588 --> 00:06:48,768
you

1243
00:06:48,768 --> 00:06:48,908
know,

1244
00:06:49,088 --> 00:06:49,188
your

1245
00:06:49,188 --> 00:06:49,427
venture

1246
00:06:49,427 --> 00:06:49,848
capital

1247
00:06:49,848 --> 00:06:50,328
firms,

1248
00:06:50,448 --> 00:06:50,628
your

1249
00:06:50,628 --> 00:06:50,888
private

1250
00:06:50,888 --> 00:06:51,228
equity

1251
00:06:51,228 --> 00:06:51,508
firm,

1252
00:06:52,427 --> 00:06:52,427
which

1253
00:06:52,427 --> 00:06:52,828
tells

1254
00:06:52,828 --> 00:06:53,028
you

1255
00:06:53,028 --> 00:06:53,308
something

1256
00:06:53,308 --> 00:06:53,608
about

1257
00:06:53,608 --> 00:06:53,848
their

1258
00:06:53,848 --> 00:06:54,208
strategy

1259
00:06:54,208 --> 00:06:54,628
right

1260
00:06:54,628 --> 00:06:54,848
off

1261
00:06:54,848 --> 00:06:55,048
the

1262
00:06:55,048 --> 00:06:55,188
bat.

1263
00:06:55,248 --> 00:06:55,608
Yeah,

1264
00:06:55,688 --> 00:06:55,808
they're

1265
00:06:55,808 --> 00:06:56,088
thinking

1266
00:06:56,088 --> 00:06:56,368
long

1267
00:06:56,368 --> 00:06:56,548
-term

1268
00:06:56,548 --> 00:06:56,928
growth

1269
00:06:56,928 --> 00:06:57,408
probably,

1270
00:06:57,528 --> 00:06:57,688
right?

1271
00:06:57,728 --> 00:06:58,088
Exactly.

1272
00:06:58,208 --> 00:06:58,408
Those

1273
00:06:58,408 --> 00:06:58,488
are

1274
00:06:58,488 --> 00:06:58,768
not

1275
00:06:58,768 --> 00:06:59,228
those

1276
00:06:59,228 --> 00:06:59,468
types

1277
00:06:59,468 --> 00:06:59,688
of

1278
00:06:59,688 --> 00:07:00,128
investors

1279
00:07:00,128 --> 00:07:00,828
aren't

1280
00:07:00,828 --> 00:07:01,088
looking

1281
00:07:01,088 --> 00:07:01,348
for

1282
00:07:01,348 --> 00:07:01,408
a

1283
00:07:01,408 --> 00:07:01,588
quick

1284
00:07:01,588 --> 00:07:01,888
return.

1285
00:07:02,108 --> 00:07:02,308
They're

1286
00:07:02,308 --> 00:07:02,568
they're

1287
00:07:02,568 --> 00:07:02,568
willing

1288
00:07:02,568 --> 00:07:03,208
to

1289
00:07:03,208 --> 00:07:03,388
Yeah,

1290
00:07:03,528 --> 00:07:03,708
they're

1291
00:07:03,708 --> 00:07:03,748
playing

1292
00:07:03,748 --> 00:07:03,888
the

1293
00:07:03,888 --> 00:07:04,088
long

1294
00:07:04,088 --> 00:07:04,228
game.

1295
00:07:04,228 --> 00:07:04,408
Play

1296
00:07:04,408 --> 00:07:04,588
the

1297
00:07:04,588 --> 00:07:04,788
long

1298
00:07:04,788 --> 00:07:04,988
game

1299
00:07:04,988 --> 00:07:05,508
exactly.

1300
00:07:06,048 --> 00:07:06,188
They're

1301
00:07:06,188 --> 00:07:06,468
okay

1302
00:07:06,468 --> 00:07:06,748
with

1303
00:07:06,748 --> 00:07:06,808
a

1304
00:07:06,808 --> 00:07:07,008
little

1305
00:07:07,008 --> 00:07:07,188
bit

1306
00:07:07,188 --> 00:07:07,328
of

1307
00:07:07,328 --> 00:07:07,668
risk.

1308
00:07:07,828 --> 00:07:08,088
Right.

1309
00:07:08,228 --> 00:07:08,448
If

1310
00:07:08,448 --> 00:07:08,628
it

1311
00:07:08,628 --> 00:07:08,988
means

1312
00:07:08,988 --> 00:07:09,268
a

1313
00:07:09,268 --> 00:07:09,428
bigger

1314
00:07:09,428 --> 00:07:09,948
payout

1315
00:07:09,948 --> 00:07:10,148
down

1316
00:07:10,148 --> 00:07:10,268
the

1317
00:07:10,268 --> 00:07:10,508
road.

1318
00:07:10,668 --> 00:07:10,968
Okay.

1319
00:07:11,168 --> 00:07:11,308
That

1320
00:07:11,308 --> 00:07:11,468
makes

1321
00:07:11,468 --> 00:07:11,768
sense.

1322
00:07:11,988 --> 00:07:12,048
Yeah,

1323
00:07:12,148 --> 00:07:12,428
whereas

1324
00:07:12,428 --> 00:07:13,048
CRDB

1325
00:07:13,048 --> 00:07:13,628
It's

1326
00:07:13,628 --> 00:07:13,828
a

1327
00:07:13,828 --> 00:07:14,028
different

1328
00:07:14,028 --> 00:07:14,408
story.

1329
00:07:14,628 --> 00:07:14,768
Okay.

1330
00:07:15,008 --> 00:07:15,188
How

1331
00:07:15,188 --> 00:07:15,468
so?

1332
00:07:15,600 --> 00:07:16,040
Much

1333
00:07:16,040 --> 00:07:16,340
more

1334
00:07:16,340 --> 00:07:16,580
diverse

1335
00:07:16,580 --> 00:07:16,980
ownership,

1336
00:07:17,280 --> 00:07:17,360
like

1337
00:07:17,360 --> 00:07:17,540
40

1338
00:07:17,540 --> 00:07:18,040
.9

1339
00:07:18,040 --> 00:07:18,240
%

1340
00:07:18,240 --> 00:07:18,540
is

1341
00:07:18,540 --> 00:07:18,920
actually

1342
00:07:18,920 --> 00:07:19,220
held

1343
00:07:19,220 --> 00:07:19,439
by

1344
00:07:19,439 --> 00:07:19,580
the

1345
00:07:19,580 --> 00:07:19,740
general

1346
00:07:19,740 --> 00:07:20,060
public.

1347
00:07:20,260 --> 00:07:20,480
Oh,

1348
00:07:20,520 --> 00:07:20,760
wow.

1349
00:07:20,900 --> 00:07:21,160
Okay.

1350
00:07:21,320 --> 00:07:21,580
So

1351
00:07:21,580 --> 00:07:22,260
it's

1352
00:07:22,260 --> 00:07:22,520
everyday

1353
00:07:22,520 --> 00:07:22,840
folks

1354
00:07:22,840 --> 00:07:23,060
like

1355
00:07:23,060 --> 00:07:23,340
us.

1356
00:07:23,379 --> 00:07:23,600
Right.

1357
00:07:23,680 --> 00:07:23,800
So

1358
00:07:23,800 --> 00:07:23,879
they

1359
00:07:23,879 --> 00:07:23,980
might

1360
00:07:23,980 --> 00:07:24,120
have

1361
00:07:24,120 --> 00:07:24,300
different

1362
00:07:24,300 --> 00:07:24,680
priorities

1363
00:07:24,680 --> 00:07:25,220
then.

1364
00:07:25,600 --> 00:07:26,000
Exactly.

1365
00:07:26,300 --> 00:07:26,439
You're

1366
00:07:26,439 --> 00:07:26,560
going

1367
00:07:26,560 --> 00:07:26,620
to

1368
00:07:26,620 --> 00:07:27,000
see

1369
00:07:27,000 --> 00:07:27,379
probably

1370
00:07:27,379 --> 00:07:27,640
a

1371
00:07:27,640 --> 00:07:27,879
bigger

1372
00:07:27,879 --> 00:07:28,340
emphasis

1373
00:07:28,340 --> 00:07:28,720
on

1374
00:07:28,720 --> 00:07:29,100
stability.

1375
00:07:29,580 --> 00:07:30,040
Okay.

1376
00:07:30,160 --> 00:07:30,600
Consistent

1377
00:07:30,600 --> 00:07:31,120
dividends.

1378
00:07:31,360 --> 00:07:31,720
Right.

1379
00:07:32,280 --> 00:07:32,280
Right.

1380
00:07:32,340 --> 00:07:32,420
You

1381
00:07:32,420 --> 00:07:32,560
know,

1382
00:07:32,620 --> 00:07:32,800
keeping

1383
00:07:32,800 --> 00:07:33,040
a

1384
00:07:33,040 --> 00:07:33,080
lot

1385
00:07:33,080 --> 00:07:33,280
of

1386
00:07:33,280 --> 00:07:33,640
shareholders

1387
00:07:33,640 --> 00:07:34,400
happy.

1388
00:07:34,700 --> 00:07:34,980
Happy.

1389
00:07:35,320 --> 00:07:35,340
Yeah,

1390
00:07:35,360 --> 00:07:35,500
because

1391
00:07:35,500 --> 00:07:35,640
they're

1392
00:07:35,640 --> 00:07:36,040
probably

1393
00:07:36,040 --> 00:07:36,460
like

1394
00:07:36,460 --> 00:07:36,500
you

1395
00:07:36,500 --> 00:07:36,680
said

1396
00:07:36,680 --> 00:07:37,040
everyday

1397
00:07:37,040 --> 00:07:37,379
folks

1398
00:07:37,379 --> 00:07:37,560
who

1399
00:07:37,560 --> 00:07:37,640
are

1400
00:07:37,640 --> 00:07:37,939
looking

1401
00:07:37,939 --> 00:07:38,640
to

1402
00:07:38,640 --> 00:07:39,040
exactly.

1403
00:07:39,100 --> 00:07:39,200
You

1404
00:07:39,200 --> 00:07:39,320
know,

1405
00:07:39,340 --> 00:07:39,540
maybe

1406
00:07:39,540 --> 00:07:39,820
supplement

1407
00:07:39,820 --> 00:07:40,180
their

1408
00:07:40,180 --> 00:07:40,520
income

1409
00:07:40,520 --> 00:07:41,120
or.

1410
00:07:41,280 --> 00:07:41,580
Exactly.

1411
00:07:42,000 --> 00:07:42,100
Yeah.

1412
00:07:42,180 --> 00:07:42,379
Yeah.

1413
00:07:42,500 --> 00:07:42,700
So

1414
00:07:42,700 --> 00:07:43,520
it's

1415
00:07:43,520 --> 00:07:43,700
almost

1416
00:07:43,700 --> 00:07:44,020
like.

1417
00:07:44,120 --> 00:07:44,260
Yeah.

1418
00:07:44,399 --> 00:07:44,679
You

1419
00:07:44,679 --> 00:07:44,699
know,

1420
00:07:44,899 --> 00:07:45,000
you've

1421
00:07:45,000 --> 00:07:45,159
got

1422
00:07:45,159 --> 00:07:45,379
one

1423
00:07:45,379 --> 00:07:45,679
bank

1424
00:07:45,679 --> 00:07:46,519
that's

1425
00:07:46,519 --> 00:07:46,519
like

1426
00:07:46,519 --> 00:07:47,079
the

1427
00:07:47,079 --> 00:07:47,299
speed

1428
00:07:47,299 --> 00:07:47,819
boat.

1429
00:07:48,000 --> 00:07:48,039
Right.

1430
00:07:48,379 --> 00:07:48,599
They're

1431
00:07:48,599 --> 00:07:48,779
zipping

1432
00:07:48,779 --> 00:07:49,079
around,

1433
00:07:49,199 --> 00:07:49,319
taking

1434
00:07:49,319 --> 00:07:49,599
some

1435
00:07:49,599 --> 00:07:49,859
risk.

1436
00:07:49,939 --> 00:07:50,219
Yeah.

1437
00:07:50,500 --> 00:07:50,599
Yeah.

1438
00:07:50,599 --> 00:07:50,759
Trying

1439
00:07:50,759 --> 00:07:50,839
to

1440
00:07:50,839 --> 00:07:50,959
hit

1441
00:07:50,959 --> 00:07:51,219
those,

1442
00:07:51,219 --> 00:07:51,599
hit

1443
00:07:51,599 --> 00:07:51,779
those

1444
00:07:51,779 --> 00:07:52,079
big

1445
00:07:52,079 --> 00:07:52,519
waves.

1446
00:07:52,599 --> 00:07:52,859
Right.

1447
00:07:53,019 --> 00:07:53,219
And

1448
00:07:53,219 --> 00:07:53,359
then

1449
00:07:53,359 --> 00:07:53,399
you

1450
00:07:53,399 --> 00:07:53,560
got

1451
00:07:53,560 --> 00:07:53,759
the

1452
00:07:53,759 --> 00:07:53,859
other

1453
00:07:53,859 --> 00:07:53,979
one

1454
00:07:53,979 --> 00:07:54,219
that's

1455
00:07:54,219 --> 00:07:54,299
like

1456
00:07:54,299 --> 00:07:54,439
the

1457
00:07:54,439 --> 00:07:54,639
cruise

1458
00:07:54,639 --> 00:07:55,439
ship.

1459
00:07:56,060 --> 00:07:56,219
All

1460
00:07:56,219 --> 00:07:56,239
right.

1461
00:07:56,339 --> 00:07:56,379
I

1462
00:07:56,379 --> 00:07:56,519
like

1463
00:07:56,519 --> 00:07:56,759
this

1464
00:07:56,759 --> 00:07:57,099
analogy.

1465
00:07:57,759 --> 00:07:57,759
Yeah.

1466
00:07:58,179 --> 00:07:58,359
A

1467
00:07:58,359 --> 00:07:58,519
little

1468
00:07:58,519 --> 00:07:58,799
smoother,

1469
00:07:59,060 --> 00:07:59,239
more

1470
00:07:59,239 --> 00:07:59,620
predictable.

1471
00:08:00,659 --> 00:08:00,739
You

1472
00:08:00,739 --> 00:08:00,839
know

1473
00:08:00,839 --> 00:08:00,959
where

1474
00:08:00,959 --> 00:08:01,120
you're

1475
00:08:01,120 --> 00:08:01,199
going

1476
00:08:01,199 --> 00:08:01,199
to

1477
00:08:01,199 --> 00:08:01,359
end

1478
00:08:01,359 --> 00:08:01,579
up.

1479
00:08:01,639 --> 00:08:01,859
Right.

1480
00:08:02,159 --> 00:08:02,259
Right.

1481
00:08:02,259 --> 00:08:02,500
Okay.

1482
00:08:02,659 --> 00:08:02,899
But

1483
00:08:02,899 --> 00:08:03,060
how

1484
00:08:03,060 --> 00:08:03,259
does

1485
00:08:03,259 --> 00:08:03,560
that

1486
00:08:03,560 --> 00:08:03,919
actually,

1487
00:08:04,079 --> 00:08:04,339
like

1488
00:08:04,339 --> 00:08:04,500
how

1489
00:08:04,500 --> 00:08:04,699
does

1490
00:08:04,699 --> 00:08:04,919
that

1491
00:08:04,919 --> 00:08:05,199
play

1492
00:08:05,199 --> 00:08:05,479
out,

1493
00:08:05,620 --> 00:08:05,759
though?

1494
00:08:05,899 --> 00:08:06,079
Well,

1495
00:08:06,079 --> 00:08:06,139
you

1496
00:08:06,139 --> 00:08:06,339
can

1497
00:08:06,339 --> 00:08:06,500
see

1498
00:08:06,500 --> 00:08:06,659
it

1499
00:08:06,659 --> 00:08:06,719
in

1500
00:08:06,719 --> 00:08:06,859
their

1501
00:08:06,859 --> 00:08:07,120
market

1502
00:08:07,120 --> 00:08:07,560
performance.

1503
00:08:07,799 --> 00:08:08,039
Okay.

1504
00:08:08,339 --> 00:08:08,459
And

1505
00:08:08,459 --> 00:08:08,579
then

1506
00:08:08,579 --> 00:08:09,139
be

1507
00:08:09,139 --> 00:08:09,620
lower

1508
00:08:09,620 --> 00:08:09,979
volatility.

1509
00:08:11,375 --> 00:08:11,755
Only

1510
00:08:11,755 --> 00:08:12,096
about

1511
00:08:12,096 --> 00:08:12,235
1

1512
00:08:12,235 --> 00:08:12,795
.7

1513
00:08:12,795 --> 00:08:13,335
percent.

1514
00:08:13,735 --> 00:08:13,735
Okay.

1515
00:08:14,055 --> 00:08:14,195
Share

1516
00:08:14,195 --> 00:08:14,515
price

1517
00:08:14,515 --> 00:08:14,875
increase

1518
00:08:14,875 --> 00:08:15,096
over

1519
00:08:15,096 --> 00:08:15,235
the

1520
00:08:15,235 --> 00:08:15,455
last

1521
00:08:15,455 --> 00:08:15,755
year.

1522
00:08:16,055 --> 00:08:16,175
Pretty

1523
00:08:16,175 --> 00:08:16,715
respectable

1524
00:08:16,715 --> 00:08:17,275
15

1525
00:08:17,275 --> 00:08:17,755
.2

1526
00:08:17,755 --> 00:08:18,175
percent.

1527
00:08:18,175 --> 00:08:18,536
Solid

1528
00:08:18,536 --> 00:08:18,795
yeah.

1529
00:08:18,815 --> 00:08:19,036
Nice

1530
00:08:19,036 --> 00:08:19,275
and

1531
00:08:19,275 --> 00:08:19,475
steady.

1532
00:08:19,715 --> 00:08:20,015
Nice

1533
00:08:20,015 --> 00:08:20,195
and

1534
00:08:20,195 --> 00:08:20,435
steady

1535
00:08:20,435 --> 00:08:20,975
right.

1536
00:08:21,455 --> 00:08:21,935
CRDB

1537
00:08:21,935 --> 00:08:22,235
on

1538
00:08:22,235 --> 00:08:22,355
the

1539
00:08:22,355 --> 00:08:22,495
other

1540
00:08:22,495 --> 00:08:22,855
hand.

1541
00:08:23,115 --> 00:08:23,315
Yeah.

1542
00:08:23,315 --> 00:08:23,475
A

1543
00:08:23,475 --> 00:08:23,596
little

1544
00:08:23,596 --> 00:08:23,795
more

1545
00:08:23,795 --> 00:08:23,895
of

1546
00:08:23,895 --> 00:08:23,975
a

1547
00:08:23,975 --> 00:08:24,096
roller

1548
00:08:24,096 --> 00:08:24,415
coaster.

1549
00:08:24,596 --> 00:08:24,955
Yeah.

1550
00:08:24,955 --> 00:08:25,175
2

1551
00:08:25,175 --> 00:08:25,475
percent

1552
00:08:25,475 --> 00:08:25,875
volatility.

1553
00:08:25,975 --> 00:08:26,195
Oh

1554
00:08:26,195 --> 00:08:26,335
my,

1555
00:08:26,495 --> 00:08:26,695
it's

1556
00:08:26,695 --> 00:08:26,755
a

1557
00:08:26,755 --> 00:08:26,975
little

1558
00:08:26,975 --> 00:08:27,495
bumpier.

1559
00:08:27,575 --> 00:08:27,675
A

1560
00:08:27,675 --> 00:08:27,815
little

1561
00:08:27,815 --> 00:08:28,355
bumpier.

1562
00:08:28,855 --> 00:08:28,975
Yeah.

1563
00:08:29,155 --> 00:08:29,575
But

1564
00:08:29,575 --> 00:08:29,995
share

1565
00:08:29,995 --> 00:08:30,375
prices

1566
00:08:30,375 --> 00:08:30,815
surge

1567
00:08:30,815 --> 00:08:31,536
45

1568
00:08:31,536 --> 00:08:32,115
.55

1569
00:08:32,115 --> 00:08:32,655
percent.

1570
00:08:32,836 --> 00:08:32,975
Yeah,

1571
00:08:33,055 --> 00:08:33,196
see

1572
00:08:33,196 --> 00:08:33,495
that's

1573
00:08:33,495 --> 00:08:33,596
one

1574
00:08:33,596 --> 00:08:33,675
of

1575
00:08:33,675 --> 00:08:33,675
the

1576
00:08:33,675 --> 00:08:33,795
time.

1577
00:08:33,956 --> 00:08:34,275
That's

1578
00:08:34,275 --> 00:08:34,935
that's

1579
00:08:34,935 --> 00:08:35,196
that's

1580
00:08:35,196 --> 00:08:35,336
a

1581
00:08:35,336 --> 00:08:35,675
big

1582
00:08:35,675 --> 00:08:35,956
jump.

1583
00:08:36,208 --> 00:08:36,748
That's

1584
00:08:36,748 --> 00:08:37,108
huge.

1585
00:08:37,228 --> 00:08:37,328
It

1586
00:08:37,328 --> 00:08:37,708
is.

1587
00:08:37,868 --> 00:08:38,008
So

1588
00:08:38,008 --> 00:08:38,308
yeah,

1589
00:08:38,468 --> 00:08:38,568
if

1590
00:08:38,568 --> 00:08:38,688
you're

1591
00:08:38,688 --> 00:08:38,908
if

1592
00:08:38,908 --> 00:08:38,968
you

1593
00:08:38,968 --> 00:08:39,168
don't

1594
00:08:39,168 --> 00:08:39,488
mind.

1595
00:08:39,508 --> 00:08:39,588
If

1596
00:08:39,588 --> 00:08:39,608
you

1597
00:08:39,608 --> 00:08:39,748
got

1598
00:08:39,748 --> 00:08:39,908
the

1599
00:08:39,908 --> 00:08:40,128
stomach

1600
00:08:40,128 --> 00:08:40,368
for

1601
00:08:40,368 --> 00:08:40,428
it.

1602
00:08:40,468 --> 00:08:40,608
Yeah,

1603
00:08:40,648 --> 00:08:40,728
if

1604
00:08:40,728 --> 00:08:40,748
you

1605
00:08:40,748 --> 00:08:40,928
don't

1606
00:08:40,928 --> 00:08:41,268
mind,

1607
00:08:41,368 --> 00:08:41,368
you

1608
00:08:41,368 --> 00:08:41,608
know,

1609
00:08:41,728 --> 00:08:41,728
a

1610
00:08:41,728 --> 00:08:41,848
little

1611
00:08:41,848 --> 00:08:42,048
bit

1612
00:08:42,048 --> 00:08:42,128
of

1613
00:08:42,128 --> 00:08:42,308
a

1614
00:08:42,308 --> 00:08:42,488
thrill

1615
00:08:42,488 --> 00:08:42,908
ride.

1616
00:08:43,288 --> 00:08:43,288
Right.

1617
00:08:43,908 --> 00:08:44,348
There's

1618
00:08:44,348 --> 00:08:44,788
there's

1619
00:08:44,788 --> 00:08:44,948
a

1620
00:08:44,948 --> 00:08:45,028
lot

1621
00:08:45,028 --> 00:08:45,208
of

1622
00:08:45,208 --> 00:08:45,588
potential

1623
00:08:45,588 --> 00:08:46,048
there.

1624
00:08:46,148 --> 00:08:46,408
There

1625
00:08:46,408 --> 00:08:46,608
is.

1626
00:08:46,788 --> 00:08:46,868
And

1627
00:08:46,868 --> 00:08:47,048
and

1628
00:08:47,048 --> 00:08:47,288
that's

1629
00:08:47,288 --> 00:08:47,508
why

1630
00:08:47,508 --> 00:08:48,368
understanding

1631
00:08:48,368 --> 00:08:48,768
your

1632
00:08:48,768 --> 00:08:48,988
own

1633
00:08:48,988 --> 00:08:49,408
investor

1634
00:08:49,408 --> 00:08:49,908
profile

1635
00:08:49,908 --> 00:08:50,148
is

1636
00:08:50,148 --> 00:08:50,408
so

1637
00:08:50,408 --> 00:08:50,768
important.

1638
00:08:50,948 --> 00:08:51,188
Right.

1639
00:08:51,488 --> 00:08:51,848
There's

1640
00:08:51,848 --> 00:08:52,168
no

1641
00:08:52,168 --> 00:08:52,408
right

1642
00:08:52,408 --> 00:08:52,748
answer

1643
00:08:52,748 --> 00:08:53,148
here.

1644
00:08:53,268 --> 00:08:53,688
Right.

1645
00:08:53,968 --> 00:08:54,108
Right.

1646
00:08:54,108 --> 00:08:54,328
It's

1647
00:08:54,328 --> 00:08:54,528
not

1648
00:08:54,528 --> 00:08:54,908
like

1649
00:08:54,908 --> 00:08:55,288
one

1650
00:08:55,288 --> 00:08:55,508
is

1651
00:08:55,508 --> 00:08:55,688
just

1652
00:08:55,688 --> 00:08:56,008
inherently

1653
00:08:56,008 --> 00:08:56,448
better

1654
00:08:56,448 --> 00:08:56,668
than

1655
00:08:56,668 --> 00:08:56,828
the

1656
00:08:56,828 --> 00:08:57,148
other.

1657
00:08:57,288 --> 00:08:57,688
Exactly.

1658
00:08:57,868 --> 00:08:58,108
It's

1659
00:08:58,108 --> 00:08:58,268
all

1660
00:08:58,268 --> 00:08:58,788
about

1661
00:08:58,788 --> 00:08:59,408
what

1662
00:08:59,408 --> 00:08:59,688
you're

1663
00:08:59,688 --> 00:08:59,908
trying

1664
00:08:59,908 --> 00:09:00,068
to

1665
00:09:00,068 --> 00:09:00,468
achieve.

1666
00:09:00,468 --> 00:09:00,848
Okay.

1667
00:09:01,308 --> 00:09:01,448
Yeah.

1668
00:09:01,528 --> 00:09:01,568
Yeah.

1669
00:09:01,648 --> 00:09:01,888
Your

1670
00:09:01,888 --> 00:09:02,328
goals.

1671
00:09:02,728 --> 00:09:02,788
Your

1672
00:09:02,788 --> 00:09:03,028
risk

1673
00:09:03,028 --> 00:09:03,328
tolerant.

1674
00:09:03,588 --> 00:09:04,048
Exactly.

1675
00:09:04,948 --> 00:09:04,948
Exactly.

1676
00:09:05,228 --> 00:09:05,468
So.

1677
00:09:06,127 --> 00:09:06,487
You

1678
00:09:06,487 --> 00:09:06,607
know,

1679
00:09:06,887 --> 00:09:06,987
if

1680
00:09:06,987 --> 00:09:07,267
you're

1681
00:09:07,267 --> 00:09:07,387
the

1682
00:09:07,387 --> 00:09:07,647
type

1683
00:09:07,647 --> 00:09:07,807
of

1684
00:09:07,807 --> 00:09:08,027
person

1685
00:09:08,027 --> 00:09:08,627
who

1686
00:09:08,627 --> 00:09:08,947
likes

1687
00:09:08,947 --> 00:09:09,167
to

1688
00:09:09,167 --> 00:09:09,387
sleep

1689
00:09:09,387 --> 00:09:09,627
well

1690
00:09:09,627 --> 00:09:09,747
at

1691
00:09:09,747 --> 00:09:10,087
night.

1692
00:09:10,427 --> 00:09:10,507
Right.

1693
00:09:10,707 --> 00:09:10,787
You

1694
00:09:10,787 --> 00:09:11,027
need

1695
00:09:11,027 --> 00:09:11,307
that

1696
00:09:11,307 --> 00:09:11,687
steady.

1697
00:09:11,687 --> 00:09:11,927
You

1698
00:09:11,927 --> 00:09:12,107
need

1699
00:09:12,107 --> 00:09:12,367
that

1700
00:09:12,367 --> 00:09:12,607
steady

1701
00:09:12,607 --> 00:09:13,027
growth.

1702
00:09:13,267 --> 00:09:13,567
Exactly.

1703
00:09:13,727 --> 00:09:13,827
You

1704
00:09:13,827 --> 00:09:14,047
just

1705
00:09:14,047 --> 00:09:14,187
want

1706
00:09:14,187 --> 00:09:14,187
to

1707
00:09:14,187 --> 00:09:14,407
see

1708
00:09:14,407 --> 00:09:15,027
those

1709
00:09:15,027 --> 00:09:15,107
those

1710
00:09:15,107 --> 00:09:15,607
dividends

1711
00:09:15,607 --> 00:09:15,947
coming

1712
00:09:15,947 --> 00:09:16,167
in

1713
00:09:16,167 --> 00:09:16,407
like

1714
00:09:16,407 --> 00:09:16,967
clockwork.

1715
00:09:17,327 --> 00:09:17,327
Yeah.

1716
00:09:17,663 --> 00:09:18,083
Maybe

1717
00:09:18,083 --> 00:09:18,703
NMB

1718
00:09:18,703 --> 00:09:19,004
is

1719
00:09:19,004 --> 00:09:19,384
more

1720
00:09:19,384 --> 00:09:19,703
your

1721
00:09:19,703 --> 00:09:20,043
speed.

1722
00:09:20,283 --> 00:09:20,484
Okay.

1723
00:09:20,783 --> 00:09:21,183
If

1724
00:09:21,183 --> 00:09:21,283
you

1725
00:09:21,283 --> 00:09:21,283
if

1726
00:09:21,283 --> 00:09:21,343
you

1727
00:09:21,343 --> 00:09:21,484
like

1728
00:09:21,484 --> 00:09:21,624
to

1729
00:09:21,624 --> 00:09:21,783
live

1730
00:09:21,783 --> 00:09:21,903
a

1731
00:09:21,903 --> 00:09:22,083
little

1732
00:09:22,083 --> 00:09:22,264
bit

1733
00:09:22,264 --> 00:09:22,484
more

1734
00:09:22,484 --> 00:09:22,644
on

1735
00:09:22,644 --> 00:09:22,744
the

1736
00:09:22,744 --> 00:09:23,043
edge.

1737
00:09:23,183 --> 00:09:23,384
You're

1738
00:09:23,384 --> 00:09:23,604
okay

1739
00:09:23,604 --> 00:09:23,864
with

1740
00:09:23,864 --> 00:09:24,124
yeah

1741
00:09:24,124 --> 00:09:24,323
with

1742
00:09:24,323 --> 00:09:24,403
a

1743
00:09:24,403 --> 00:09:24,583
little

1744
00:09:24,583 --> 00:09:24,764
bit

1745
00:09:24,764 --> 00:09:24,884
of

1746
00:09:24,884 --> 00:09:25,283
uncertainty.

1747
00:09:25,563 --> 00:09:25,923
Exactly.

1748
00:09:26,203 --> 00:09:26,244
And

1749
00:09:26,244 --> 00:09:26,343
you

1750
00:09:26,343 --> 00:09:26,663
think

1751
00:09:26,663 --> 00:09:26,823
you

1752
00:09:26,823 --> 00:09:27,203
know.

1753
00:09:27,203 --> 00:09:27,403
Yeah.

1754
00:09:27,663 --> 00:09:28,063
Tanzania's

1755
00:09:28,063 --> 00:09:28,183
got

1756
00:09:28,183 --> 00:09:28,323
a

1757
00:09:28,323 --> 00:09:28,484
bright

1758
00:09:28,484 --> 00:09:28,803
future.

1759
00:09:29,144 --> 00:09:29,244
Right.

1760
00:09:29,624 --> 00:09:29,764
They're

1761
00:09:29,764 --> 00:09:29,864
they're

1762
00:09:29,864 --> 00:09:29,943
going

1763
00:09:29,943 --> 00:09:30,223
to

1764
00:09:30,223 --> 00:09:30,403
they're

1765
00:09:30,403 --> 00:09:30,484
going

1766
00:09:30,484 --> 00:09:30,543
to

1767
00:09:30,543 --> 00:09:30,723
go

1768
00:09:30,723 --> 00:09:31,124
big.

1769
00:09:31,244 --> 00:09:31,644
Exactly.

1770
00:09:32,063 --> 00:09:32,443
CRDB

1771
00:09:32,443 --> 00:09:32,703
might

1772
00:09:32,703 --> 00:09:32,843
be

1773
00:09:32,843 --> 00:09:32,943
the

1774
00:09:32,943 --> 00:09:33,063
way

1775
00:09:33,063 --> 00:09:33,203
to

1776
00:09:33,203 --> 00:09:33,384
go.

1777
00:09:33,463 --> 00:09:33,644
This

1778
00:09:33,644 --> 00:09:33,843
has

1779
00:09:33,843 --> 00:09:34,024
been

1780
00:09:34,024 --> 00:09:34,423
great.

1781
00:09:34,583 --> 00:09:34,703
I

1782
00:09:34,703 --> 00:09:34,864
feel

1783
00:09:34,864 --> 00:09:34,943
like

1784
00:09:34,943 --> 00:09:35,163
I've

1785
00:09:35,163 --> 00:09:35,364
learned

1786
00:09:35,364 --> 00:09:35,663
a

1787
00:09:35,663 --> 00:09:35,864
lot.

1788
00:09:36,303 --> 00:09:36,384
It's

1789
00:09:36,384 --> 00:09:36,543
it's

1790
00:09:36,543 --> 00:09:36,644
just

1791
00:09:36,644 --> 00:09:37,283
it's

1792
00:09:37,283 --> 00:09:37,563
interesting

1793
00:09:37,563 --> 00:09:37,803
to

1794
00:09:37,803 --> 00:09:38,004
see

1795
00:09:38,004 --> 00:09:38,644
how.

1796
00:09:38,723 --> 00:09:39,063
Yeah.

1797
00:09:39,124 --> 00:09:39,303
To

1798
00:09:39,303 --> 00:09:39,524
banks

1799
00:09:39,524 --> 00:09:39,764
in

1800
00:09:39,764 --> 00:09:39,823
the

1801
00:09:39,823 --> 00:09:40,203
same

1802
00:09:40,203 --> 00:09:40,703
country

1803
00:09:40,703 --> 00:09:41,024
same

1804
00:09:41,024 --> 00:09:41,384
sector

1805
00:09:41,384 --> 00:09:41,604
can

1806
00:09:41,604 --> 00:09:41,864
be

1807
00:09:41,864 --> 00:09:42,163
so

1808
00:09:42,163 --> 00:09:42,543
different.

1809
00:09:43,104 --> 00:09:43,104
Absolutely.

1810
00:09:43,543 --> 00:09:43,543
And

1811
00:09:43,543 --> 00:09:43,663
yeah.

1812
00:09:43,884 --> 00:09:43,884
And.

1813
00:09:44,587 --> 00:09:45,028
We've

1814
00:09:45,028 --> 00:09:45,268
we've

1815
00:09:45,268 --> 00:09:45,528
really

1816
00:09:45,528 --> 00:09:45,827
just

1817
00:09:45,827 --> 00:09:46,048
scratched

1818
00:09:46,048 --> 00:09:46,307
the

1819
00:09:46,307 --> 00:09:46,587
surface

1820
00:09:46,587 --> 00:09:46,908
here.

1821
00:09:47,128 --> 00:09:47,307
Right.

1822
00:09:47,327 --> 00:09:47,548
This

1823
00:09:47,548 --> 00:09:47,748
is

1824
00:09:47,748 --> 00:09:47,868
true.

1825
00:09:48,008 --> 00:09:48,447
We've

1826
00:09:48,447 --> 00:09:48,768
given

1827
00:09:48,768 --> 00:09:49,067
you

1828
00:09:49,067 --> 00:09:49,628
the

1829
00:09:49,628 --> 00:09:49,628
the

1830
00:09:49,628 --> 00:09:49,847
lay

1831
00:09:49,847 --> 00:09:50,008
of

1832
00:09:50,008 --> 00:09:50,128
the

1833
00:09:50,128 --> 00:09:50,307
land.

1834
00:09:51,107 --> 00:09:51,107
To

1835
00:09:51,107 --> 00:09:51,447
tools

1836
00:09:51,447 --> 00:09:51,988
exactly.

1837
00:09:52,048 --> 00:09:52,467
Yeah.

1838
00:09:52,628 --> 00:09:52,807
But,

1839
00:09:52,807 --> 00:09:53,128
you

1840
00:09:53,128 --> 00:09:53,307
know,

1841
00:09:53,548 --> 00:09:54,248
the

1842
00:09:54,248 --> 00:09:54,268
the

1843
00:09:54,268 --> 00:09:54,567
best

1844
00:09:54,567 --> 00:09:55,067
investors.

1845
00:09:55,447 --> 00:09:55,748
Right.

1846
00:09:55,868 --> 00:09:56,128
They

1847
00:09:56,128 --> 00:09:56,268
do

1848
00:09:56,268 --> 00:09:56,488
their

1849
00:09:56,488 --> 00:09:56,648
own

1850
00:09:56,648 --> 00:09:56,988
research

1851
00:09:56,988 --> 00:09:57,567
too.

1852
00:09:57,668 --> 00:09:57,827
They

1853
00:09:57,827 --> 00:09:57,988
go

1854
00:09:57,988 --> 00:09:58,307
out

1855
00:09:58,307 --> 00:09:58,508
there.

1856
00:09:58,707 --> 00:09:58,947
They

1857
00:09:58,947 --> 00:09:59,008
they

1858
00:09:59,008 --> 00:09:59,187
kick

1859
00:09:59,187 --> 00:09:59,368
the

1860
00:09:59,368 --> 00:09:59,628
tires

1861
00:09:59,628 --> 00:09:59,847
a

1862
00:09:59,847 --> 00:09:59,988
little

1863
00:09:59,988 --> 00:10:00,508
bit.

1864
00:10:00,707 --> 00:10:01,148
Exactly.

1865
00:10:01,888 --> 00:10:01,967
Exactly.

1866
00:10:02,148 --> 00:10:02,148
Exactly.

1867
00:10:02,187 --> 00:10:02,467
So

1868
00:10:02,467 --> 00:10:03,087
I

1869
00:10:03,087 --> 00:10:03,307
would

1870
00:10:03,307 --> 00:10:04,207
say.

1871
00:10:04,207 --> 00:10:04,548
You

1872
00:10:04,548 --> 00:10:05,048
know,

1873
00:10:05,148 --> 00:10:05,368
take

1874
00:10:05,368 --> 00:10:05,548
what

1875
00:10:05,548 --> 00:10:05,827
you've

1876
00:10:05,827 --> 00:10:05,947
learned

1877
00:10:05,947 --> 00:10:06,187
here

1878
00:10:06,187 --> 00:10:06,807
today.

1879
00:10:07,128 --> 00:10:07,288
Use

1880
00:10:07,288 --> 00:10:07,447
it

1881
00:10:07,447 --> 00:10:07,628
as

1882
00:10:07,628 --> 00:10:07,807
a

1883
00:10:07,807 --> 00:10:07,967
starting

1884
00:10:07,967 --> 00:10:08,307
point

1885
00:10:08,307 --> 00:10:08,488
as

1886
00:10:08,488 --> 00:10:08,648
a

1887
00:10:08,648 --> 00:10:08,788
starting

1888
00:10:08,788 --> 00:10:08,988
point.

1889
00:10:09,148 --> 00:10:09,288
Yeah.

1890
00:10:09,548 --> 00:10:09,687
And

1891
00:10:09,687 --> 00:10:09,908
then

1892
00:10:09,908 --> 00:10:10,128
start

1893
00:10:10,128 --> 00:10:10,408
digging

1894
00:10:10,408 --> 00:10:10,947
into.

1895
00:10:11,148 --> 00:10:11,248
Yeah.

1896
00:10:11,288 --> 00:10:11,368
Cause

1897
00:10:11,368 --> 00:10:11,467
we

1898
00:10:11,467 --> 00:10:11,607
didn't

1899
00:10:11,607 --> 00:10:11,788
even

1900
00:10:11,788 --> 00:10:11,947
get

1901
00:10:11,947 --> 00:10:12,288
into

1902
00:10:12,288 --> 00:10:12,628
like.

1903
00:10:12,628 --> 00:10:12,908
Yeah.

1904
00:10:12,908 --> 00:10:12,908
Yeah.

1905
00:10:12,908 --> 00:10:12,908
Yeah.

1906
00:10:12,908 --> 00:10:12,908
Yeah.

1907
00:10:12,943 --> 00:10:13,423
All

1908
00:10:13,423 --> 00:10:13,583
the

1909
00:10:13,583 --> 00:10:13,803
other

1910
00:10:13,803 --> 00:10:14,203
factors.

1911
00:10:14,483 --> 00:10:14,583
Right.

1912
00:10:14,863 --> 00:10:14,863
Exactly.

1913
00:10:15,223 --> 00:10:15,343
Like

1914
00:10:15,343 --> 00:10:15,783
what's

1915
00:10:16,003 --> 00:10:16,144
happening?

1916
00:10:16,163 --> 00:10:16,443
The

1917
00:10:16,443 --> 00:10:17,183
intrastrates

1918
00:10:17,183 --> 00:10:17,463
the

1919
00:10:17,463 --> 00:10:18,003
government

1920
00:10:18,003 --> 00:10:18,703
policy.

1921
00:10:18,863 --> 00:10:19,144
Yes.

1922
00:10:19,203 --> 00:10:19,423
Exactly.

1923
00:10:20,003 --> 00:10:20,163
The

1924
00:10:20,163 --> 00:10:20,524
global

1925
00:10:20,524 --> 00:10:21,063
economy.

1926
00:10:21,423 --> 00:10:21,524
Like

1927
00:10:21,623 --> 00:10:21,623
like.

1928
00:10:21,843 --> 00:10:21,843
Because

1929
00:10:21,843 --> 00:10:22,144
those

1930
00:10:22,144 --> 00:10:22,323
all

1931
00:10:22,323 --> 00:10:22,543
play

1932
00:10:22,543 --> 00:10:22,703
a

1933
00:10:22,703 --> 00:10:22,884
role

1934
00:10:22,884 --> 00:10:23,223
too.

1935
00:10:23,303 --> 00:10:23,463
You

1936
00:10:23,463 --> 00:10:23,743
draw.

1937
00:10:24,003 --> 00:10:24,024
Yeah.

1938
00:10:24,123 --> 00:10:24,303
It's

1939
00:10:24,303 --> 00:10:24,443
like.

1940
00:10:25,003 --> 00:10:25,203
We've

1941
00:10:25,203 --> 00:10:25,363
looked

1942
00:10:25,363 --> 00:10:25,563
at

1943
00:10:25,563 --> 00:10:25,683
the

1944
00:10:25,683 --> 00:10:26,024
car.

1945
00:10:26,144 --> 00:10:26,403
Right.

1946
00:10:26,483 --> 00:10:26,764
We've

1947
00:10:26,764 --> 00:10:26,884
looked

1948
00:10:26,884 --> 00:10:27,083
at

1949
00:10:27,083 --> 00:10:27,223
the

1950
00:10:27,223 --> 00:10:27,403
road

1951
00:10:27,403 --> 00:10:27,623
that's

1952
00:10:27,623 --> 00:10:27,803
going

1953
00:10:27,803 --> 00:10:27,903
to

1954
00:10:27,903 --> 00:10:28,144
drive

1955
00:10:28,144 --> 00:10:28,483
on.

1956
00:10:28,503 --> 00:10:28,703
Yeah.

1957
00:10:28,783 --> 00:10:29,103
But

1958
00:10:29,103 --> 00:10:29,363
what's

1959
00:10:29,363 --> 00:10:29,483
the

1960
00:10:29,483 --> 00:10:29,723
weather

1961
00:10:29,723 --> 00:10:30,024
like?

1962
00:10:30,043 --> 00:10:30,323
Right.

1963
00:10:30,323 --> 00:10:30,503
Is

1964
00:10:30,503 --> 00:10:30,703
there

1965
00:10:30,703 --> 00:10:30,884
a

1966
00:10:30,884 --> 00:10:31,223
thunderstorm

1967
00:10:31,223 --> 00:10:31,663
coming?

1968
00:10:31,843 --> 00:10:32,243
Exactly.

1969
00:10:32,543 --> 00:10:32,783
Exactly.

1970
00:10:32,923 --> 00:10:32,923
Exactly.

1971
00:10:33,003 --> 00:10:33,003
Exactly.

1972
00:10:33,003 --> 00:10:33,123
Do

1973
00:10:33,123 --> 00:10:33,323
we

1974
00:10:33,323 --> 00:10:33,743
need

1975
00:10:33,743 --> 00:10:33,963
to

1976
00:10:33,963 --> 00:10:34,243
pack

1977
00:10:34,243 --> 00:10:34,384
an

1978
00:10:34,384 --> 00:10:34,743
umbrella?

1979
00:10:35,163 --> 00:10:35,384
Yeah.

1980
00:10:35,563 --> 00:10:35,783
That's

1981
00:10:35,783 --> 00:10:35,903
a

1982
00:10:35,903 --> 00:10:36,003
great

1983
00:10:36,003 --> 00:10:36,083
way

1984
00:10:36,083 --> 00:10:36,183
to

1985
00:10:36,183 --> 00:10:36,303
put

1986
00:10:36,303 --> 00:10:36,503
it.

1987
00:10:36,644 --> 00:10:36,644
Yeah.

1988
00:10:36,743 --> 00:10:36,983
All

1989
00:10:36,983 --> 00:10:37,103
right.

1990
00:10:37,283 --> 00:10:37,623
So

1991
00:10:37,623 --> 00:10:37,903
to

1992
00:10:37,903 --> 00:10:38,024
our

1993
00:10:38,024 --> 00:10:38,343
listeners

1994
00:10:38,343 --> 00:10:38,683
out

1995
00:10:38,683 --> 00:10:39,163
there.

1996
00:10:39,203 --> 00:10:39,583
Yes.

1997
00:10:39,843 --> 00:10:40,083
Think

1998
00:10:40,083 --> 00:10:40,283
of

1999
00:10:40,283 --> 00:10:40,443
this

2000
00:10:40,443 --> 00:10:40,764
as

2001
00:10:40,764 --> 00:10:41,683
your

2002
00:10:41,683 --> 00:10:41,884
your

2003
00:10:41,884 --> 00:10:42,183
jumping

2004
00:10:42,183 --> 00:10:42,543
off

2005
00:10:42,543 --> 00:10:42,843
point.

2006
00:10:42,843 --> 00:10:42,923
[MUSIC

2007
00:10:42,923 --> 00:10:42,923
PLAYING]

2008
00:10:42,960 --> 00:10:43,200
I

2009
00:10:43,200 --> 00:10:43,379
love

2010
00:10:43,379 --> 00:10:43,960
it.

2011
00:10:44,040 --> 00:10:44,280
We've

2012
00:10:44,280 --> 00:10:44,379
given

2013
00:10:44,379 --> 00:10:44,540
you

2014
00:10:44,540 --> 00:10:44,660
the

2015
00:10:44,660 --> 00:10:45,139
information.

2016
00:10:45,660 --> 00:10:45,680
Yes.

2017
00:10:45,800 --> 00:10:45,900
Now

2018
00:10:45,900 --> 00:10:46,040
go

2019
00:10:46,220 --> 00:10:46,220
out

2020
00:10:46,220 --> 00:10:46,320
into

2021
00:10:46,320 --> 00:10:46,519
your

2022
00:10:46,519 --> 00:10:46,660
own

2023
00:10:46,660 --> 00:10:47,060
research.

2024
00:10:47,280 --> 00:10:47,480
Make

2025
00:10:47,480 --> 00:10:47,820
those

2026
00:10:47,820 --> 00:10:48,040
data

2027
00:10:48,040 --> 00:10:48,320
driven

2028
00:10:48,320 --> 00:10:48,940
decisions.

2029
00:10:49,480 --> 00:10:49,840
Exactly.

2030
00:10:50,019 --> 00:10:50,040
And

2031
00:10:50,040 --> 00:10:50,259
speaking

2032
00:10:50,259 --> 00:10:50,540
of

2033
00:10:50,540 --> 00:10:50,879
data.

2034
00:10:51,500 --> 00:10:51,800
Yes.

2035
00:10:51,960 --> 00:10:52,040
We

2036
00:10:52,040 --> 00:10:52,220
got

2037
00:10:52,220 --> 00:10:52,280
to

2038
00:10:52,280 --> 00:10:52,460
give

2039
00:10:52,460 --> 00:10:52,600
a

2040
00:10:52,600 --> 00:10:52,820
big

2041
00:10:52,820 --> 00:10:53,200
thank

2042
00:10:53,200 --> 00:10:53,540
you

2043
00:10:53,540 --> 00:10:53,840
to

2044
00:10:53,840 --> 00:10:54,060
our

2045
00:10:54,060 --> 00:10:54,480
sponsor.

2046
00:10:54,660 --> 00:10:54,700
Of

2047
00:10:54,700 --> 00:10:55,180
course.

2048
00:10:55,620 --> 00:10:55,660
Yes.

2049
00:10:55,800 --> 00:10:55,920
Because

2050
00:10:55,920 --> 00:10:56,519
ndrequants.

2051
00:10:56,680 --> 00:10:57,120
For

2052
00:10:57,120 --> 00:10:57,460
for

2053
00:10:57,460 --> 00:10:57,780
making

2054
00:10:57,780 --> 00:10:58,160
this

2055
00:10:58,160 --> 00:10:58,400
deep

2056
00:10:58,400 --> 00:10:58,800
dive

2057
00:10:58,800 --> 00:10:59,400
possible.

2058
00:10:59,480 --> 00:10:59,720
Couldn't

2059
00:10:59,720 --> 00:10:59,879
do

2060
00:10:59,879 --> 00:11:00,000
it

2061
00:11:00,000 --> 00:11:00,180
without

2062
00:11:00,180 --> 00:11:00,420
him.

2063
00:11:00,580 --> 00:11:00,600
So

2064
00:11:00,600 --> 00:11:00,800
thank

2065
00:11:00,900 --> 00:11:00,900
you

2066
00:11:00,900 --> 00:11:01,720
ndrequants.

2067
00:11:01,720 --> 00:11:01,940
Go

2068
00:11:01,940 --> 00:11:02,139
check

2069
00:11:02,139 --> 00:11:02,400
them

2070
00:11:02,400 --> 00:11:02,639
out.

2071
00:11:02,660 --> 00:11:02,960
Yes.

2072
00:11:02,960 --> 00:11:03,139
For

2073
00:11:03,139 --> 00:11:03,340
all

2074
00:11:03,340 --> 00:11:03,840
your

2075
00:11:03,840 --> 00:11:04,139
your

2076
00:11:04,139 --> 00:11:04,420
data

2077
00:11:04,420 --> 00:11:04,900
needs.

2078
00:11:04,920 --> 00:11:05,139
All

2079
00:11:05,139 --> 00:11:05,360
your

2080
00:11:05,360 --> 00:11:05,560
data

2081
00:11:05,560 --> 00:11:05,860
needs.

2082
00:11:06,100 --> 00:11:06,160
Yeah.

2083
00:11:06,200 --> 00:11:06,379
They're

2084
00:11:06,379 --> 00:11:06,759
fantastic.

2085
00:11:07,080 --> 00:11:07,180
They're

2086
00:11:07,180 --> 00:11:07,280
the

2087
00:11:07,280 --> 00:11:07,600
best.

2088
00:11:07,824 --> 00:11:08,084
The

2089
00:11:08,084 --> 00:11:08,624
best.

2090
00:11:09,004 --> 00:11:09,064
All

2091
00:11:09,064 --> 00:11:09,204
right.

2092
00:11:09,344 --> 00:11:09,504
We'll

2093
00:11:09,504 --> 00:11:09,744
on

2094
00:11:09,744 --> 00:11:09,964
that

2095
00:11:09,964 --> 00:11:10,284
note.

2096
00:11:10,284 --> 00:11:10,664
Yeah.

2097
00:11:10,664 --> 00:11:10,804
I

2098
00:11:10,804 --> 00:11:11,004
think

2099
00:11:11,004 --> 00:11:11,364
we've

2100
00:11:11,364 --> 00:11:11,624
reached

2101
00:11:11,624 --> 00:11:11,884
the

2102
00:11:11,884 --> 00:11:12,044
end

2103
00:11:12,044 --> 00:11:12,224
of

2104
00:11:12,224 --> 00:11:12,644
our

2105
00:11:12,644 --> 00:11:12,964
our

2106
00:11:12,964 --> 00:11:13,144
deep

2107
00:11:13,144 --> 00:11:13,544
dive

2108
00:11:13,544 --> 00:11:14,084
into

2109
00:11:14,084 --> 00:11:14,924
Nmb

2110
00:11:14,924 --> 00:11:15,264
and

2111
00:11:15,264 --> 00:11:16,244
CRDB.

2112
00:11:16,344 --> 00:11:16,484
It

2113
00:11:16,484 --> 00:11:17,544
has.

2114
00:11:17,644 --> 00:11:17,844
It

2115
00:11:17,844 --> 00:11:18,004
has.

2116
00:11:18,204 --> 00:11:18,224
I've

2117
00:11:18,224 --> 00:11:18,364
learned

2118
00:11:18,364 --> 00:11:18,544
a

2119
00:11:18,544 --> 00:11:18,824
lot.

2120
00:11:18,924 --> 00:11:19,104
Me

2121
00:11:19,104 --> 00:11:19,384
too.

2122
00:11:19,564 --> 00:11:19,584
So

2123
00:11:19,584 --> 00:11:19,724
until

2124
00:11:19,724 --> 00:11:19,924
next

2125
00:11:19,924 --> 00:11:20,284
time.

2126
00:11:20,404 --> 00:11:20,624
Happy

2127
00:11:20,624 --> 00:11:21,044
investing.

2128
00:11:21,124 --> 00:11:21,424
Happy

2129
00:11:21,424 --> 00:11:21,884
investing

2130
00:11:21,884 --> 00:11:22,304
everyone.