Non operating income.

So these assets might be generating non operating income.

Then whatever this generates is actually non operating income.

But this is the difference between operating income and EBlT.

Because some of income might be generated from non operating assets.

And in all these scenarios it tells me my operating income.

Wealth is a function of income, and income comes from you finding a profitable trading opportunity or a well paying job.

EBlT in this case would be the operating profit plus this investment income.

Trading.

In this scenario, this is the income statement, at least as far as we get to the operating income line.

But in general if you take EBlT and you take out the non operating income, you get back to operating profits.

Trading what?

Trading everything.

And at least it'll give you a sense of how revenues, gross profit, operating profit, pre tax income and net income really are different.

And it's also sometimes called algo trading, algorithmic trading.

In overnight trading

Operating System

Operating system

And I won't go into all of the details of an income statement, but any income statement you look at will have this operating profit line.

And so their operating profit, the amount of pre tax income, but you know, we're not considering financing either, so this is their operating profit or their EBlT.

So operating profit.

I see the memory operating, I see the CPU operating,

I hear it operating. I probably smell it operating. (Laughter)

That's where trading comes in.

Your illicit trading and such.

I have a trading business.

So it's 50 utilization and then, my return on asset is my operating income divided by my initial investment, right?

So low income here, high income there.

Choose Your Operating System

RPC Modern operating systems

RAP Older operating systems

So their operating profit.

This was operating profit.

RANDALL Operating right now.

What's your operating number?

Investment income.

And you don't know what is operating, but something is operating there.

I'm working for a trading firm.

I work for a trading company.

Trading with Japan is not easy.

Company C is trading at 100.

I don't play for trading stamps.

later IBM starts trading at 50.

I'd enjoy trading notes with him.

So EBlT, in the case that I just added some investment income, would be 1,010,000, while operating profit would be 1 million.