They write these research reports because they want to go to institutional investors or people who have their brokerage accounts with these banks, and essentially sell them stock.

The amount of money you get.

Foreign investors withdrew their money from America.

Foreign investors withdrew their money from the United States.

You're trading in the secondary market you're not dealing with the actual corporation so that's where the investor get's their liquidity and when we say liquidity it allows them to convert it into cash because they can trade it

but you can't decide I'm your only supplier.

Andrew,you'll analyze the SEC filings.

Investment

Now, who are they accountable to?

Malibu Equity and Investments.

Well their intention was to take these home equity loans and put that money to work, invest it in some way.

They're like, look, both of us have tried out this guy, he's doubled our money two years in a row for both of us, you probably want in on this as well.

He valued what we already had at 5 million dollars.

They're valuing these assets at 1 million.

Investing in professional development is not a cost.

As investors flee

Investing.

So they're now buying, you know a big block of, you know may be a 10,000 shares right over here and will trade in the open market.

Even more, let's say for whatever reason, because not so many people could afford this stock, because just to get in the game, you've gotta put up 100,000 to buy a share.

As investors choose to become involved based on those terms, they can either take their rewards back as cash, or they can decide in advance to give those returns away to a non profit.

Malibu Equity and Investments. Roger Van Zant.

And this is the important thing.

This is the total actual value.

An open ended mutual fund at any point in time or I should say at the end of trading at the end of a day, they can lose investors, or they can gain investors so it's an incentive for an open ended fund to constantly market itself because the manager wants to manage more money so that he gets more of a management fee

And I'll show you why that matters in a second.

Big investors.

Investment in what?

We are now faced with these questions to answer.

Did you know that 40 percent of the wealth created in Africa is not invested here in Africa?

But in the same time, those new shares could be traded on an open market and that combination or you can kind of view it as the combination of the due actually exist and they're called Exchange Traded Funds.

And then this syndicate of banks, led by the lead underwriter, will then sell it to their brokerage clients.

When you have huge returns, as Sal's Cupcakes had in this video or in this worksheet over here

(Laughter) Here's some advice from one of the largest investors in the United States.

But he said you know Nempo...

Peter Thiel just made an angel investment of half a million dollars.

We said before any of this stuff on the top existed, the pre money valuation of just our idea was 5 million.

And you get a 6 billion market cap.

Let me put that.

Just Manic Enough.

Consider it a capital investment.

I want investment.

I ran to my computer to send it to the IMF official.

By the way before we go forward, this is one point I want to mention.

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

If there are investors willing to finance