Latest / Earn Your Leisure / Study Hall: THE BILLION DOLLAR BUSINESS OF POLICE BRUTALITY & SOCIALLY RESPONSIBLE INVESTING

Transcript

Study Hall: THE BILLION DOLLAR BUSINESS OF POLICE BRUTALITY & SOCIALLY RESPONSIBLE INVESTING · Earn Your Leisure

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Speaker 3: There's an economic play. There's an economic play behind police brutality.
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Speaker 3: There's a huge, huge economic play. So every year cities
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Speaker 3: across the United States of America, small and large, they
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Speaker 3: spend millions of dollars in police brutality claims because it's like,
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Speaker 3: this isn't calmon, this isn't new, right, like it happens
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Speaker 3: all the time they right, even if it's not to
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Speaker 3: this extent where somebody gets killed, somebody might get a
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Speaker 3: black eye, somebody might break somebody's ribs.
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Speaker 4: Like a lobody, might be wrongfully accused.
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Speaker 3: Yeah, it's a lot of police but that's it's but
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Speaker 3: specifically police brutality. So police brutality cases, there's millions of
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Speaker 3: police brutality cases all over the country every single year.
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Speaker 3: Most of the time it's settled with some compensation being paid,
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Speaker 3: and that can go from one thousand dollars to one
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Speaker 3: hundred million dollars like anywhere in between. Right, it depends.
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Speaker 3: So now what people don't fully understand, I think is
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Speaker 3: that there's billions, billions of dollars that are paid to
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Speaker 3: victims of police brutality every single.
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Speaker 4: Year, all the time. Yeah, there was a settlement for
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Speaker 4: forty million, this person got twenty five million. Nobody thinks
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Speaker 4: about they just hit the number. Nobody thinks about anything else.
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Speaker 4: Where's this coming from?
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Speaker 3: Yeah, and to create So Chicago in twenty eighteen, one
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Speaker 3: hundred and thirteen million dollars was paid to police brutality.
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Speaker 4: Settlements and judgments.
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Speaker 3: One hundred and thirteen million in just the city of
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Speaker 3: Chicago in twenty eighteen one years. That's amazing. It's like,
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Speaker 3: where does this money come from? So this is now
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Speaker 3: you start to peel back the layers, because if it's
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Speaker 3: like it's like a movie. It's like a movie, like
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Speaker 3: you see the Instagram clips and it's like, okay, so
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Speaker 3: now I feel like I'm actually a detective. Right, It's like,
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Speaker 3: now you got to peel back the layers.
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Speaker 4: It's weird because at times, like when you hear these sellments.
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Speaker 4: I remember when Dudiallo got the sell them and it
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Speaker 4: was like, yoh, it's forty million dollars or something of
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Speaker 4: that sort, and it was like that felt like a victory.
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Speaker 4: It felt like, all right, well he's been compensated for
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Speaker 4: the abuse that he suffered. And then when you look
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Speaker 4: at like, wait, where did that money come from? It's like, wait,
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Speaker 4: is this really a bit? Should we be celebrating that.
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Speaker 3: That's the crazy thing about it. Nobody ever thought about
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Speaker 3: where the money come from. So where does the money
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Speaker 3: come from? The money comes from taxpayers, right, So taxpayers.
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Speaker 3: So that's another thing about police officers. Police officers are
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Speaker 3: public servants. Right, we pay when I say we tax
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Speaker 3: paying people of the United States of America pay the
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Speaker 3: salaries and the retirement of the police department. All of
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Speaker 3: that comes from tax dollars. So now the taxpayers are
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Speaker 3: paying for these payouts. That's the first that's the first
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Speaker 3: part that people need to fully understand.
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Speaker 4: It's like even before the payout, right, they have no
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Speaker 4: So you got to understand that part. Before you even
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Speaker 4: get to the setlement, you've had to go through court
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Speaker 4: a court case. Right there, there's no financial responsibility on
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Speaker 4: the side of an officer during the police brutality case.
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Speaker 4: So literally, the taxpayers pay for their trial. So they're
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Speaker 4: paying for the lawyers that, they're paying for the judgments,
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Speaker 4: and they're paying for the settlements. Like there is nothing
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Speaker 4: that they have to do if the actors committed while
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Speaker 4: they're on the job.
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Speaker 3: Yeah, that's the fact. So now so now the tax
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Speaker 3: payers paid for it. So it's like all right, so
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Speaker 3: now now we got deal back, peel back, even more layers.
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Speaker 3: So now a lot of cities, in towns, they have
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Speaker 3: liability policies. So liability it's like insurance pretty much, right,
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Speaker 3: So it's like, okay, any other insurance policy, you pay
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Speaker 3: a premium. So like let's say you have a ten
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Speaker 3: million dollar liability policy, so your premium for that might
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Speaker 3: be two hundred and fifty thousand dollars, right, So taxpayers
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Speaker 3: are paying the premium because that's where it comes from
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Speaker 3: the budget. So tax pay is paying two hundred fifty thousand,
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Speaker 3: and then a liability company is paying the ten million.
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Speaker 3: So it's like, okay, if you if you get into
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Speaker 3: a situation and you beat up somebody, a cop, you're
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Speaker 3: a cop, and you beat up somebody, they sue. Now
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Speaker 3: they win, So now a liability company is liable for
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Speaker 3: that to pay that, so they pay it. But ultimately
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Speaker 3: the taxpayers still paid it in some sort because they
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Speaker 3: actually paid the premium for the policy. So but that
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Speaker 3: wouldn't that wouldn't be that bad because it's it's like,
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Speaker 3: all right, you're only paying it's still bad because it's
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Speaker 3: like you you are committing a crime. You are actually
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Speaker 3: abusing somebody, and where even if it's a dollar or
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Speaker 3: ten percent of what's being paid, it's we're still paying
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Speaker 3: for a tax. But it's like, all right, it's still less.
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Speaker 3: It's not like you're paying the whole thing right now,
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Speaker 3: you got to peel back even one more layers. So
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Speaker 3: it's like, all right. What happens is that most of
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Speaker 3: these cities, towns, and especially as more and more police
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Speaker 3: brutality cases start to be reported. They don't have enough
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Speaker 3: liability because you got to think about the liability. Companies
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Speaker 3: are business as well. They're not just going to try
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Speaker 3: to give away money. Yeah, it's like they cap it.
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Speaker 3: So now it's like there's not enough liability insurance to
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Speaker 3: cover a lot of this, right, So.
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Speaker 4: We need more money.
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Speaker 3: So now they need more money, additional money in addition
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Speaker 3: to the liability. So where does that come from? So
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Speaker 3: now they have to issue bonds. They have to have bonds, right,
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Speaker 3: So it's like Bethelhem, Pennsylvania, small town in Pennsylvania, two
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Speaker 3: thousand and four, they settle the wrongful death lawsuit for
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Speaker 3: a seven point eight nine million, So five hundred thousand
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Speaker 3: came from the insurance, seven million, three hundred and nine
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Speaker 3: seven point thirty nine million came from bonds. So the
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Speaker 3: vast majority of it actually came from bonds.
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Speaker 4: Right. So bonds in the census, like, listen, we're gonna
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Speaker 4: pay you back this money over a given amount of
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Speaker 4: time with interests, right, So a lot of times it
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Speaker 4: could be thirty years, sometimes it could be shorter. So
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Speaker 4: we just got to understand that part too. So literally,
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Speaker 4: a municipality is saying listen, we don't have the money,
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Speaker 4: but we'll get it back to you. They're gonna raise
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Speaker 4: that money from the good people who live in that city.
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Speaker 4: So it's like, listen the people who live in these areas.
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Speaker 4: And a lot of times it's over policed areas. So
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Speaker 4: when we look at the cities, it's over police areas.
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Speaker 4: When they're over policed, there's gonna be more incidents, there's
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Speaker 4: gonna be more altercations with law officials. So they already
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Speaker 4: know like, all right, well we're gonna set this budget aside,
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Speaker 4: and if we don't have enough, we're gonna get more
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Speaker 4: from the taxpayers.
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Speaker 3: Yeah, And so what happens, what's going on now is
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Speaker 3: that cities across the United States of America are going
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Speaker 3: into massive debt because of what they're calling it police
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Speaker 3: brutality bonds. That's what they're pretty much, they're police brutality bonds.
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Speaker 3: So that's the crazy thing about the financial industry. They
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Speaker 3: issue bonds for anything. There was bonds for mortgage backed
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Speaker 3: security for your home. There's bonds for anything that you
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Speaker 3: really get creative, you can issue a bond. So now
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Speaker 3: they actually have police brutality bonds. Right, So between two
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Speaker 3: thousand and eight. In twenty seventeen, we did some research.
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Speaker 3: LA seventy four million dollars was paid in police brutality bonds.
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Speaker 3: The insurance the interest on that was eighteen million. To
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Speaker 3: the holders of the bond and taxpayers, it cost them
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Speaker 3: eighty nine million. So let me just I just wanted
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Speaker 3: people to understand that. So, all right, LA didn't have
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Speaker 3: enough to pay police brutality cases.
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Speaker 4: So those are the judgments and settlements.
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Speaker 3: Right, so over and above what they already have in
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Speaker 3: their budget, or over and above the liabilion.
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Speaker 4: That that's the scary part too, Like we are ready
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Speaker 4: of saying, listen, we have a budget for it. Let's
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Speaker 4: keep going.
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Speaker 3: Yeah, So now they have to go to the financial
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Speaker 3: markets and issue bonds worth seventy one million dollars, right,
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Speaker 3: So they take out bonds for seventy one million dollars
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Speaker 3: to pay this. Because if you know what a bond is,
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Speaker 3: it's like it's your somebody's loaning you money. For them
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Speaker 3: loaning you money, you're paying it back over a course
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Speaker 3: of time, but it's with interest. So now the people
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Speaker 3: that loaned them the money, people that loaned them seventy
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Speaker 3: one million dollars, they got paid an interest of eighteen million.
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Speaker 4: So we're going to talk about who they are too.
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Speaker 3: In a said they so they made money, They made
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Speaker 3: eighteen The people that issued the bonds made eighteen million
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Speaker 3: dollars on the bonds. The taxpayers ended up paying for
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Speaker 3: the whole thing, because you have to pay for the
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Speaker 3: bond and the interest. So the taxpayers ended up paying
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Speaker 3: eighty nine million.
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Speaker 4: So you got to sell the bond money, which is
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Speaker 4: the seventy one if we're talking about LA and talk
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Speaker 4: about the interest pace. So you can buy those two
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Speaker 4: and that's what the bill is for the tax payer.
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Speaker 3: YEP. Milwaukee during that same time, twenty six million in bonds,
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Speaker 3: three point seven million dollars in interest. The taxpayers paid
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Speaker 3: twenty nine million. Chicago, Chicago. I don't know what's going
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Speaker 3: on in Chicago.
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Speaker 4: Well, Chicago had a lot of high profile cases. One
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Speaker 4: that comes to mind, and we're going to talk about
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Speaker 4: a duration of time, So from like ten to twenty eighteen,
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Speaker 4: we're talking to almost a billion dollars paid. They had
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Speaker 4: the Lakwi McDonald case where the young black kid was
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Speaker 4: shot sixteen times. And I believe the office's name was
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Speaker 4: Van Dyk or something like that got sent us to
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Speaker 4: six years. There was a settlement in that case. So
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Speaker 4: you got a couple of cases in Chicago that happened
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Speaker 4: from twenty to ten to twenty seventeen. They had seven
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Speaker 4: hundred and nine million in bonds, seven hundred and nine million.
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Speaker 4: The interest paid those on those bonds was one billion
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Speaker 4: dollars with a b so the taxpayers get the bill
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Speaker 4: for one point seven There is a crazy part. There
9:57
Speaker 4: was this quote. I was like, yo, that is it.
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Speaker 4: I was reading. It was like they said, this is
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Speaker 4: like the equivalent of paying your rent with a credit card.
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Speaker 4: Like it's a temporary solution, but the root of the
10:08
Speaker 4: problem is you don't have enough money to pay your bills.
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Speaker 3: Yeah, you know what I'm saying.
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Speaker 4: Think about that.
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Speaker 3: And that's crazy. I mean because if you look at it,
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Speaker 3: like Milwaukee paid three million interest on twenty six million
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Speaker 3: dollar bond, La paid eighteen million on a seventy one
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Speaker 3: million dollars bond, they're small The interest is smaller than
10:25
Speaker 3: the amount of money that they borrowed. Chicago actually paid
10:28
Speaker 3: more interest than what they So not only are they
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Speaker 3: issuing bonds, they're issuing high interests like credit card like
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Speaker 3: thirty five percent or something like that must be crazy
10:36
Speaker 3: that they paid one billion dollars of interest and they
10:39
Speaker 3: only borrowed seven hundred and nine million, and the tax
10:42
Speaker 3: payers paid for all of that. Tax pay is pay
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Speaker 3: for one point seven billion. So this is something that's
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Speaker 3: so crazy because it's like, you're paying for police brutality.
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Speaker 3: You are, yeah, And this is something, like I said,
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Speaker 3: whether you are black, white, whether you are affluent, whatever,
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Speaker 3: this is something that everybody should be concerned about because
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Speaker 3: from an economic standpoint, why do you want to pay
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Speaker 3: for road cops? Why do you want to pay for that?
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Speaker 4: You're getting conduct.
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Speaker 3: You're not only paying for it, but you're paying for
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Speaker 3: the interest as well.
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Speaker 4: Yeah.
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Speaker 3: So all right, so now that's that's the third layer.
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Speaker 3: But here's where it gets really spicy. It's like, all right,
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Speaker 3: so we're talking about bonds and day they so who's day? Right?
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Speaker 3: So it turns out that large banks, investment firms, ball
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Speaker 3: Street investment firms, small regional banks all play a part
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Speaker 3: in issuing these bonds. Some well known companies that have
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Speaker 3: played a part, Wells Fargo, Goldman Sachs, Bank of America.
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Speaker 4: Bank of Montreal.
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Speaker 3: So they issue police brutality bonds to town cities municipalities.
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Speaker 3: The cities pay them over the course of time to
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Speaker 3: loan them money so they can pay victims, and they
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Speaker 3: actually are making money. So these companies are making money
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Speaker 3: off of police brutality because they're getting paid interest on
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Speaker 3: the bonds.
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Speaker 4: And there's a lot of fees that go into doing
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Speaker 4: these bonds. Right. So, like we said that there's an
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Speaker 4: underwriter fees that the banks are going to collect the
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Speaker 4: money on that every time they issue them, so they're
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Speaker 4: going to every time that there's a case that is
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Speaker 4: a settlement, there's underwriting fees. The bank gets big.
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Speaker 3: So not only do you have the first layer that's
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Speaker 3: making money is insurance companies for the liability claims because
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Speaker 3: insurance companies always make money, there's no way around it.
12:30
Speaker 3: Like that's how insurance companies operate, right, So now you're
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Speaker 3: paying insurance premiums, So insurance, there's insurance policies in place
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Speaker 3: for police brutality, they make money. But even bigger than that,
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Speaker 3: now you have financial institutions that are making money off
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Speaker 3: police brutality bonds off the interest. So okay, now we
12:49
Speaker 3: have to look at now it makes more sense why
12:51
Speaker 3: nothing has changed in the last fifty years, if anything
12:53
Speaker 3: has gotten worse, right, because there's no incentive for it
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Speaker 3: to stop. Not only do the police do not pay themselves,
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Speaker 3: they have no financial responsibility for it at all. So
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Speaker 3: that's one thing, like that's crazy. The insurance companies is
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Speaker 3: actually making money on it, and now banks and financial
13:13
Speaker 3: institutions aren't making money on it. So if there's if
13:17
Speaker 3: there's if nobody's losing money as far as the cops
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Speaker 3: and people are making millions and billions of dollars, why
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Speaker 3: would there ever be a real incentive to change police brutality.
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Speaker 4: And then all that, right, if this was chess, right,
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Speaker 4: if we said that those are all the players, we
13:36
Speaker 4: got to figure out where are we at on that chessboard?
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Speaker 3: Just pawns getting moved around. That's the reality of it,
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Speaker 3: and most people don't realize it. So it's like all right, okay, okay.
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Speaker 3: So and there's different ways how cities use it, Like
13:49
Speaker 3: some cities use bonds as like part of their budgets.
13:51
Speaker 3: Some cities use it as an emergency opption. Some cities
13:54
Speaker 3: use it after the liability insurance cuts in, but they're
13:57
Speaker 3: still getting used. Right, So it's like whole economic sight.
14:00
Speaker 3: This is what we're talking about politics, and this is
14:04
Speaker 3: something that people need to be aware of. So it's
14:05
Speaker 3: like we're not just going to give you the problem.
14:09
Speaker 3: Hopefully people somebody's listening to a bunch of people are listening,
14:13
Speaker 3: and community's listening. So and you never know what somebody
14:15
Speaker 3: can do with the information. Right. So now it's like,
14:18
Speaker 3: how I see it. We're talking about were in a
14:20
Speaker 3: political season, right, and you're asking these politicians. You demanding
14:24
Speaker 3: these politicians for these things, right, But a lot of
14:27
Speaker 3: times you asking them and you demanded them for wrong things.
14:30
Speaker 3: You asking them to put body cameras on these people.
14:33
Speaker 3: It doesn't matter.
14:34
Speaker 4: But that's crazy. I'm glad you said body cameras because
14:37
Speaker 4: in my notes, I was thinking, like body cameras that
14:39
Speaker 4: comes out of the budget too, right, So like when
14:42
Speaker 4: you say you want these things, they have to get
14:44
Speaker 4: the money to pay for it. So there needs to
14:46
Speaker 4: be a budget that needs to come flow. You're paying
14:48
Speaker 4: for those body cameras if you want them, you know
14:50
Speaker 4: what I'm saying. So like we got to think intense, like,
14:52
Speaker 4: all right, everything that you're asking for, you're going to
14:54
Speaker 4: pay for it.
14:55
Speaker 3: So the real in my opinion, if you want to
14:57
Speaker 3: take a political route, I'm not a post I'm not
14:59
Speaker 3: opposed to politics. If you want to take a political route, right,
15:02
Speaker 3: real legislation that can really make a difference is first
15:07
Speaker 3: kitting police officers when it hurts, so getting cuts from
15:11
Speaker 3: the pension funds. Right, the police unions across America is
15:15
Speaker 3: probably the strongest, if not one of these strongest unions
15:19
Speaker 3: in every city of America. That they hardly can ever
15:23
Speaker 3: lose it. They can go to jail and still keep
15:25
Speaker 3: their pension. They hardly ever get fired even if they
15:29
Speaker 3: threw an egregious act. They like get put on like
15:31
Speaker 3: punishment or death duty.
15:33
Speaker 4: But even when they get fired, so that there's a
15:35
Speaker 4: fine line there, right, and that's where the law comes in.
15:37
Speaker 4: It's like they can get fired for the offense, but
15:39
Speaker 4: the offense happened while they were on duty, you see
15:42
Speaker 4: what I'm saying, So like you're still paying for it
15:44
Speaker 4: because it happened while they were part of the force.
15:47
Speaker 4: They could have been fired after it, but they still
15:49
Speaker 4: were doing that crime while they were on it. So
15:52
Speaker 4: technically your taxpayer is gonna pay for it.
15:54
Speaker 3: Yeah, So actionable items my opinion, I'm sure you have
15:57
Speaker 3: some ideas cutting pinch in funds, right, every for every
16:03
Speaker 3: for every one hundred million that has to be paid out,
16:08
Speaker 3: ten percent of the of the pension fund gets depleted.
16:12
Speaker 3: That's that's an incentive for cops not to be because
16:16
Speaker 3: you gotta realize this a lot of times, this is
16:18
Speaker 3: the reality of it. Racism is real, right, So you're
16:22
Speaker 3: not gonna be able to change You're not gonna be
16:24
Speaker 3: able to change somebody's mine. If somebody looks at you
16:26
Speaker 3: as less than a human being, somebody looks at you,
16:29
Speaker 3: you can't change that by doing training and none of
16:32
Speaker 3: that's gonna work. But what people respect more than anything
16:35
Speaker 3: else is money. So if they realize that, look, this
16:39
Speaker 3: is gonna affect my money, you're gonna think twice about
16:41
Speaker 3: doing something. So let's say it's one hundred for ever
16:44
Speaker 3: one hundred million dollars ten percent of the total pension
16:47
Speaker 3: for everybody, because it gotta be across the board, everybody's
16:50
Speaker 3: gotta feel the pain gets deducted. Now, the good cops
16:54
Speaker 3: is going to be even more vigilant, and the bad
16:56
Speaker 3: cops is even gonna think about it because it's like,
16:58
Speaker 3: I'm not just gonna do nothing because now I'm gonna
17:01
Speaker 3: get effected pay Yeah.
17:02
Speaker 4: I think the second way we can we can go
17:04
Speaker 4: about this is having them have individual responsibility rather than
17:08
Speaker 4: having the tax paid pay for it. Let it come
17:10
Speaker 4: out of it. Like you said, let's affect the money.
17:12
Speaker 4: Let it come out of their own individual pench pains.
17:14
Speaker 4: Let it come out of their own individual salaries. If
17:16
Speaker 4: there is misconduct, right, if you saw that happening, you
17:19
Speaker 4: would be less likely to commit any type of egregious
17:22
Speaker 4: offense if you know it was going to cost you, right,
17:24
Speaker 4: because you got to feed your family too.
17:25
Speaker 3: It's just like the NFL or any other thing. You
17:28
Speaker 3: get fined exactly right, you get fine, you do something
17:30
Speaker 3: in the NFL, you do an illegal hit, you get
17:32
Speaker 3: a fifty thousand dollars paycheck cut in your paycheck. So yeah,
17:37
Speaker 3: like you said, cops, if you get found guilty, if
17:39
Speaker 3: you because if you have to pay their settling it right,
17:42
Speaker 3: So for every settlement that you have to pay for,
17:45
Speaker 3: we're going to take twenty thousand dollars out of your salary.
17:47
Speaker 3: We're going to cut your salary a bout twenty five
17:49
Speaker 3: percent for the year. So you know what I'm saying.
17:52
Speaker 3: So now it's like no overtime paid, all types of thing.
17:54
Speaker 3: So now it's like, okay, you have a financial incentive
17:58
Speaker 3: put in place not to do these things. Right. Another
18:02
Speaker 3: thing that they can do is that they can deduct
18:06
Speaker 3: it from the overall police budget, which will lower the
18:09
Speaker 3: police budget, which that hurts them. Right. Another thing that
18:13
Speaker 3: they can do that I just thought about is I
18:15
Speaker 3: don't understand why cops don't have E and O insurance,
18:19
Speaker 3: Like there's millions of cops all across the country from
18:22
Speaker 3: every persent, from doctors, financial advisors. Doctors pay so much
18:26
Speaker 3: money in malpractice insurance, so much money. Like a doctor
18:30
Speaker 3: might pay thirty thousand dollars a year in malpractice insurance.
18:32
Speaker 3: He might not ever do anything wrong, but that's the
18:36
Speaker 3: cost of being a doctor, because when a doctor does
18:39
Speaker 3: do something wrong, it's all pulled together. Just like a
18:42
Speaker 3: financial advisor has E and O insurance, which stands for
18:45
Speaker 3: Arizonal Mission insurance. So the financial advisor might not do
18:48
Speaker 3: anything wrong his whole entire career, but if something happens
18:52
Speaker 3: and you know, a complaint is fouled, then they have
18:57
Speaker 3: E and O insurance, which every financial advisor has to
18:59
Speaker 3: carry E and know insurance. Right. So, now, like any
19:02
Speaker 3: other type of insurance, you got millions of people putting
19:04
Speaker 3: it towards the pot it comes out of that. So
19:08
Speaker 3: why can't cops have E and O insurance? Two hundred
19:11
Speaker 3: dollars out of every single cops paycheck has to go
19:14
Speaker 3: to E ANDO malpractice whatever you want to call it insurance.
19:18
Speaker 3: So now you've taken two hundred dollars a paycheck out
19:21
Speaker 3: of millions of cops paychecks that alone could probably pay
19:25
Speaker 3: for at least half of these police brutality case. More
19:28
Speaker 3: than that, it's gonna come out of yacht like you just.
19:31
Speaker 4: Because what you said is so important that it'll be
19:33
Speaker 4: more than that. Right, Because we're not talking about every
19:35
Speaker 4: city in America. We're talking about over over populated cities
19:39
Speaker 4: with police presence, right, So if there's a large police
19:42
Speaker 4: presence in that city, then these things are more likely
19:44
Speaker 4: to happen. And where those things happen in the cities
19:47
Speaker 4: that there are predominantly people that look like myself and
19:50
Speaker 4: shotting straight up.
19:51
Speaker 3: Yeah, and when you're talking about voting once again, you're
19:54
Speaker 3: talking about voting, that's important. You have to It's not
19:57
Speaker 3: good enough just to vote. It's not good enough just
19:59
Speaker 3: to you have to enact real policy change, like these
20:02
Speaker 3: are real policy changes.
20:03
Speaker 4: Before they can even vote, right, Like, I know, everybody,
20:05
Speaker 4: this is a year that the census has come out.
20:08
Speaker 4: You have to fill that out, y'all, Like you've got
20:10
Speaker 4: to fill that out. Fill out the census. Let them
20:12
Speaker 4: know who you are, so then you can actually vote
20:14
Speaker 4: and actually get elected officials in positions who have your
20:17
Speaker 4: best interest in mind. Man, people, I've seen people with this.
20:20
Speaker 4: It's like, I got my senses whatever, what is that?
20:22
Speaker 4: I don't know do with that.
20:23
Speaker 3: Another thing is that it could it could be legislation
20:27
Speaker 3: put in place where no financial institution can benefit. And
20:32
Speaker 3: if they are going to issue bonds, it has to
20:33
Speaker 3: be zero percent interest. That's the way. It's really no
20:36
Speaker 3: incentive for them to not make your money. You're not
20:39
Speaker 3: going to issue a bond if it's zero percent interest.
20:41
Speaker 3: So it's gonna be extremely harder because now it's just easy, like,
20:44
Speaker 3: all right, we get in trouble, we go to Wells Fargo.
20:48
Speaker 3: They're gonna cut us a check. We're gonna pay it back.
20:50
Speaker 3: It's not coming from us, it's coming from taxpayers anyway.
20:53
Speaker 3: So who cares? Well Fargo doesn't care because they're making money.
20:56
Speaker 3: The police department doesn't care because it's coming from the taxpayers.
20:58
Speaker 3: The only one that's that's brought in this bill is taxpayers.
21:01
Speaker 3: So not only a taxpayer is paying a salary of cops,
21:05
Speaker 3: they're paying for the mistakes of cops as well.
21:07
Speaker 4: Yeah, on a daily basis. And like that's the part
21:10
Speaker 4: that people really got to understand. Like if you're paying taxes, yeah,
21:13
Speaker 4: it's cool, Like all right, we're paying for schools, but yeah,
21:16
Speaker 4: you're also playing for misconduct straight up.
21:18
Speaker 3: That's a fact, man. So you know, it's it's it's
21:22
Speaker 3: it's a it's a crazy system. We can go on
21:24
Speaker 3: and on about this, but like I said, and it's
21:26
Speaker 3: like for those that are saying, like we can't vote,
21:28
Speaker 3: I'm not saying I'm not we shouldn't vote. I'm not
21:30
Speaker 3: telling anybody what to do politically. We're not We're not
21:32
Speaker 3: a political show. I'm just saying, as far as instead
21:35
Speaker 3: of just giving you problems, these are some real life
21:38
Speaker 3: solutions that you can now how you go about it,
21:40
Speaker 3: it's up to you. Like I said, we provide the
21:42
Speaker 3: information applications on you. You know, if you're a young leader,
21:46
Speaker 3: if you're an old leader, and if you you it
21:48
Speaker 3: sparked something. Whether it's through community mobilization, whether it's through
21:52
Speaker 3: boycotts to these or these institutions, that's that issue, these bonds,
21:56
Speaker 3: whether it's through political action, that can be the maid
22:00
Speaker 3: it for a different day, a different show. But you know,
22:03
Speaker 3: the first thing is to be aware of what's going on.
22:06
Speaker 4: So we went over that like all last week. We
22:08
Speaker 4: just kept saying that over and over. Everybody's like, knowledge power.
22:10
Speaker 4: The more you know, the more you know. Yo. The
22:12
Speaker 4: real issue is that knowledge is power when it's applied.
22:15
Speaker 4: So now that you have the knowledge, we've provided some
22:17
Speaker 4: knowledge for you, hopefully we peel back some layers that
22:19
Speaker 4: you were unaware of. Now it's up to you. Now
22:22
Speaker 4: what what do you do with this? What do you
22:23
Speaker 4: do with you got Where do you apply it?
22:25
Speaker 3: That's the fact. So in the next segment, we're gonna
22:27
Speaker 3: go we're gonna switch topics, but stay in the same lane,
22:30
Speaker 3: and we're gonna talk about investing. We're talking about making money,
22:33
Speaker 3: but from a different twist. So yeah, yeah, let's get
22:35
Speaker 3: into it, all right. So now we're gonna go into investing.
22:38
Speaker 3: That's what that's what we you know, people always tune
22:41
Speaker 3: into shots Market Monday's number one stocks you whole a
22:47
Speaker 3: whole vibe. Shout out to wall she traff of bro.
22:50
Speaker 3: Shout out to everybody that we had on the show
22:52
Speaker 3: to talk about investing. Shout out to Quentin Martin the
22:55
Speaker 3: first stock market show up we've ever done, and that
22:58
Speaker 3: was over year ago. So we talked about it investing
23:00
Speaker 3: a lot, right, But it's just like now we're in
23:02
Speaker 3: the time of being socially conscious. We're in the time
23:05
Speaker 3: of actually you know, and it does everybody's not socially conscious,
23:09
Speaker 3: but I'm just saying as far as a lot of
23:10
Speaker 3: people are starting to become socially conscious. So a lot
23:12
Speaker 3: of people grapple because we do. We did a show
23:15
Speaker 3: last week shout to my song about you know the
23:17
Speaker 3: prison system ye, and it's like, I you know what
23:20
Speaker 3: I mean, Like I don't feel comfortable investing in companies
23:22
Speaker 3: that are invested in prison or it's like now it's
23:25
Speaker 3: police brutality and you find out there's a whole financial
23:27
Speaker 3: play behind that.
23:28
Speaker 4: I think I think that was Sode open the doors
23:29
Speaker 4: because like a lot of people didn't even realize that.
23:31
Speaker 4: And shout out to my song because I see him
23:32
Speaker 4: on the field. Uh, And he was in Kentucky with
23:35
Speaker 4: the Breonna Taylor case and now he's in Minnesota with
23:39
Speaker 4: the George Floyd case too. So shout out to my
23:41
Speaker 4: song who's doing incredible work.
23:43
Speaker 3: Shout out to my song for sure. So all right,
23:46
Speaker 3: one thing that we have not talked about so far
23:48
Speaker 3: in the podcast is socially responsible investing.
23:52
Speaker 4: That's all right, yeah.
23:53
Speaker 3: Socially responsible investing. So this is an interesting conversation because
23:57
Speaker 3: it's actually a really big thing and it's been around
24:00
Speaker 3: for a very long period of time. But so there
24:03
Speaker 3: are investors right that have social hangups about different things,
24:08
Speaker 3: whether it be about the environment, whether it be about tobacco,
24:13
Speaker 3: whether it be about gambling, whether it be about war
24:17
Speaker 3: than another one, weapons of mass destruction, prison companies that
24:22
Speaker 3: benefit off of prison health and health care.
24:25
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27:17
Speaker 3: Alcohol, women, a bunch of different things that people. So
27:21
Speaker 3: it's like a lot of times just like you know,
27:23
Speaker 3: some people and I'm not taking aside either way. Some
27:25
Speaker 3: people's like, you know, I'm gonna invest and just get
27:27
Speaker 3: my bread, get my money, and it is what it is.
27:29
Speaker 3: And then some people was like, you know, I kind
27:32
Speaker 3: of want to still invest make money. I believe in that,
27:35
Speaker 3: but I still have some moral issues.
27:39
Speaker 4: Your moral compass is going on that I.
27:40
Speaker 3: Don't necessarily want to invest in certain companies.
27:44
Speaker 4: So that's fair.
27:45
Speaker 3: Yeah, No, that's fair. I'm not saying it's not so
27:50
Speaker 3: for that. They're actually funds. There's actually funds, now, guy,
27:54
Speaker 3: I said that financial and when you start to learn
27:55
Speaker 3: about more abile everything, it's something it's like ice cream
27:58
Speaker 3: is a different flavor for every single person. So there's
28:00
Speaker 3: actually funds, ETFs and mutual funds in place to four
28:06
Speaker 3: socially conscious investors.
28:08
Speaker 4: Yeah. I had to pull back the layers on this
28:09
Speaker 4: because I was like, what you texted to me, I'm like,
28:11
Speaker 4: I never heard of it. Let's do some research.
28:14
Speaker 3: Yeah, for sure. So you know there's there's a few
28:18
Speaker 3: like I said, so those are the different topics like environment, gambling, tobacco, alcohol, prison,
28:23
Speaker 3: social justice, and religion. That's a whole different conversation. We're
28:27
Speaker 3: gonna talk about that. But so just to kind of
28:29
Speaker 3: give you a few, there's esgu esgu Is an ETF,
28:35
Speaker 3: a socially conscious ETF that does not invest in any
28:40
Speaker 3: company that has anything to do with weapons, tobacco, jails,
28:48
Speaker 3: even though they actually did have a private prison in
28:51
Speaker 3: their ETF and then they found out and there was
28:54
Speaker 3: a mistake and they kicked it off. So it's like
28:56
Speaker 3: even that, it's like, you know, you find out, you
28:58
Speaker 3: try to get the kosher hot door, yea, the moral police,
29:01
Speaker 3: it was made in a pig slaughtering house. It's like
29:04
Speaker 3: it's so crazy, but so yeah, but yeah, that's a ETF,
29:07
Speaker 3: and that ETF has actually done pretty well, you know,
29:10
Speaker 3: considering because a lot of a lot of times it's
29:13
Speaker 3: the performance of these things aren't as high as other ones,
29:16
Speaker 3: but that one has done pretty well. It's fifty two
29:19
Speaker 3: week high is uh seventy five dollars, and it's fifty
29:23
Speaker 3: two week low was forty dollars a month ago. So
29:25
Speaker 3: in March it was forty dollars right now with sixty eight,
29:28
Speaker 3: so it's it's it's up pretty nicely in a two
29:31
Speaker 3: in a two month timeframe. Another one is s sg A,
29:35
Speaker 3: which is a women diversity ETF and like investing companies
29:38
Speaker 3: that hire majority women or have women CEO. It's like
29:42
Speaker 3: it's focused around women. Here's another one called c r
29:47
Speaker 3: b N, which is a low carbon Environmental friendly ETF.
29:52
Speaker 3: So there's there's a variety. Like you can just google
29:54
Speaker 3: socially conscious funds and like kind of just play around
29:57
Speaker 3: with it in different filters and you can see, like
29:59
Speaker 3: you know, what kind of fun you're looking for, you know,
30:01
Speaker 3: with the situation.
30:02
Speaker 4: It's interesting, man, it's interest because I'm thinking to myself,
30:04
Speaker 4: like how many investors right are not willing to compromise
30:07
Speaker 4: their values to make money? And when I think of investors,
30:11
Speaker 4: I'm like, you know what, I think the more the
30:12
Speaker 4: moral thing is like they just want to make money. Yeah,
30:14
Speaker 4: they don't put everything else. I think.
30:16
Speaker 3: I think, you know, people and myself included. You know,
30:19
Speaker 3: I'm not preaching from the choir. We conveniently get blind, right,
30:25
Speaker 3: conveniently get blind because it's like, you know what I'm saying,
30:27
Speaker 3: Like you might see something, it's like, it's not that bad.
30:32
Speaker 4: It's like like if you were anti war, right, and
30:34
Speaker 4: it was like, yeah, bone was at ninety seven dollars, right,
30:38
Speaker 4: But I don't want to invest in any company that
30:39
Speaker 4: has deals with any making machines or any type of
30:42
Speaker 4: thing that can help in the development of weapons of
30:46
Speaker 4: mass destruction or helping war. There goes that moral It's like, wait,
30:49
Speaker 4: well this is a good buy, right this, this is
30:51
Speaker 4: a good buy at ninety seven dollars. Is it worth it?
30:54
Speaker 4: You know what I'm saying, Like, I think most people
30:55
Speaker 4: are thinking, let's just make money.
30:57
Speaker 3: Oh, they just don't really think about it. Thinking about
30:59
Speaker 3: it from that standpoint, it's like, yeah, you know Boeing
31:02
Speaker 3: has government contracts. Are you thinking that maybe that government
31:09
Speaker 3: plane is sending a drone and killing an innocent child
31:12
Speaker 3: in Syria? You're not really looking too far into it.
31:15
Speaker 3: You could. It's available, It's a lot, it's a lot easier.
31:23
Speaker 3: This is what happens in a variety of different things.
31:27
Speaker 3: You don't you don't want to see certain things. Like
31:29
Speaker 3: you you're walking down the alley, you see what's going on,
31:33
Speaker 3: you turn your you turn around. You walked out of the.
31:34
Speaker 4: Way a lot of times, most of the time, most
31:37
Speaker 4: of the time, safety a lot of time.
31:39
Speaker 3: And like I said, I'm not here to shame, We're
31:41
Speaker 3: not here to shame anybody. But but I'm just saying,
31:45
Speaker 3: I'm just you just want to provide some information for
31:47
Speaker 3: some people that may want to take a higher level
31:52
Speaker 3: of morality in that and that standpoint, and may want
31:57
Speaker 3: to take a higher level of eating out their investments.
32:02
Speaker 3: Just give them.
32:02
Speaker 4: Just give them.
32:03
Speaker 3: That's the thing we're we just hate it. Just provide information.
32:05
Speaker 3: A lot of time people don't fully understand that, and
32:06
Speaker 3: they don't they don't they don't even know that.
32:08
Speaker 4: It exists exactly. So it's like a lot of people
32:11
Speaker 4: in this I guess the quote unquote woke stage right.
32:14
Speaker 4: So it's like, yo, if you're woke, let it be
32:16
Speaker 4: in all assets of your life, right, not just in
32:18
Speaker 4: your individual things that you're doing on day to day,
32:20
Speaker 4: but even in investment. And this is one of those things,
32:22
Speaker 4: like like you said, prior to this, I wasn't thinking
32:25
Speaker 4: about it. I had no idea, you know what I mean.
32:27
Speaker 3: It's so but then that brings it to another conversation
32:31
Speaker 3: we talked to Chokin shout out to Mice on last
32:32
Speaker 3: week's episode was about the prison system. We didn't fully
32:36
Speaker 3: go into the finances of publicly traded companies, but so
32:41
Speaker 3: there's prison stocks, like private prison companies that are traded
32:46
Speaker 3: on the Stock exchange. So a few of them are Courcivic,
32:50
Speaker 3: which is c x W and g O Group which
32:54
Speaker 3: is g E. Oh that's their that's their symbol.
32:56
Speaker 4: The crazy thing about cour Civic and this is crazy
32:59
Speaker 4: that you said that we even speak about this, but
33:01
Speaker 4: dal Freeman shout out to Daala Feman. If you don't
33:03
Speaker 4: know Daalk Freeman, google him. I tell you his background.
33:05
Speaker 4: But a very a very successful man in the world
33:08
Speaker 4: of technology. Uh. He called me, he said, y'all loved
33:12
Speaker 4: that episode, the actual the CEO of course if it
33:15
Speaker 4: is my next door neighbor.
33:16
Speaker 3: Oh yeah.
33:17
Speaker 4: He was like, Yo, it's a big business and I'm
33:19
Speaker 4: glad y'all talked to you.
33:20
Speaker 3: He love episode.
33:21
Speaker 4: Yep, loved it. Sent me the message and I was like, wow,
33:25
Speaker 4: that's incredible. He was like, Yo, it's a big business.
33:27
Speaker 4: It's a city. Literally. You got to think of these prisons,
33:29
Speaker 4: these private business as cities. They need everything that a
33:32
Speaker 4: city needs. And when you look at it like that.
33:34
Speaker 4: It's like, damn, he's right. Yeah, and his next door
33:37
Speaker 4: neighbor is the guy who is in charge of that.
33:39
Speaker 3: Well, there you have it. So yeah, those are two
33:42
Speaker 3: private prison companies.
33:43
Speaker 4: Now.
33:43
Speaker 3: The crazy thing about those stocks, so it's been even
33:46
Speaker 3: on the episode, my song had said that private prison
33:49
Speaker 3: stocks skyrocketed after Trump got elected. That is true. Both
33:52
Speaker 3: of those companies I think went up over one hundred
33:54
Speaker 3: percent in a year following Crump's election. But they've actually
33:57
Speaker 3: been down for the last like three year and four
34:01
Speaker 3: Like their five year chart is not really impressive, which
34:03
Speaker 3: is a good thing. I mean, you know, but just
34:06
Speaker 3: wanted to throw that out there. We have to tell
34:08
Speaker 3: both sides of the story. So as an investment, they
34:11
Speaker 3: haven't really they're not booming. They're not booming right now.
34:14
Speaker 4: Which is good, which is good, which means that there's
34:16
Speaker 4: less people going to prison.
34:17
Speaker 3: Well I don't know if there's less people going to prison.
34:19
Speaker 3: But for whatever reason, the stock is just not doing well.
34:22
Speaker 3: There could be a variety of different reasons why this
34:24
Speaker 3: stock isn't doing well, but the stock has not really performed.
34:29
Speaker 3: But what a lot of people don't fully understand is
34:30
Speaker 3: that a lot of people are invested, and especially cor Civic.
34:35
Speaker 3: Up until last year at the very least, a lot
34:38
Speaker 3: of people are invested in cor Civic without even knowing
34:41
Speaker 3: it because through your four to one K, through your IRA,
34:46
Speaker 3: through your pension plan. So Vanguard and Blackrock were the
34:50
Speaker 3: two biggest holders I think they still are of private
34:55
Speaker 3: prisons stocks. Black Rock Vanguard two of the biggest mutual
35:00
Speaker 3: fund companies. Everybody loves Vanguard because they have you know,
35:04
Speaker 3: it's what I'm saying, it's a lot of talk about
35:06
Speaker 3: it's a lot of them right and wrong in life. Right.
35:08
Speaker 3: People love Vanguard because it's like it's a no load
35:10
Speaker 3: fund and it's pretty much free to invest, and it's
35:13
Speaker 3: it's cheap, and they're the biggest hold of prison stocks.
35:17
Speaker 3: By the way, they also have a lot of four
35:21
Speaker 3: one K accounts. Black Rock has a lot of four
35:23
Speaker 3: one K accounts, right, So cour Civic, c XW was
35:27
Speaker 3: in a lot of these, probably still are, and a
35:30
Speaker 3: lot of these four one K makeups because when you
35:32
Speaker 3: invest in a four one K, nobody knows what they're
35:34
Speaker 3: invested in. The four one K you have probably three
35:38
Speaker 3: Like four one K is like a menu and they
35:40
Speaker 3: give you like twenty different options of how to invest, right,
35:42
Speaker 3: twenty different funds. Now, within one fund, it's like one
35:45
Speaker 3: hundred different stocks inside of a fund. So if you
35:48
Speaker 3: have like three different funds, you have like three hundred
35:50
Speaker 3: different stocks inside of your fall one K that you're
35:52
Speaker 3: invested in.
35:53
Speaker 4: You doing research on all of them.
35:54
Speaker 3: Now, I guarantee you nobody knows any of those companies.
35:58
Speaker 3: Nobody knows any of those companies, right because you never acts.
36:02
Speaker 3: It's not like just listed as soon as when you're
36:04
Speaker 3: they just tell you the name of the company. So
36:06
Speaker 3: it'll be like Vanguard twenty twenty fund or Vanguard High
36:11
Speaker 3: Interest bond fund or Vanguard small Cap Value fund. Right,
36:17
Speaker 3: that's the name of the fund. But inside of the
36:20
Speaker 3: small cap value fund, it's about one hundred and forty
36:24
Speaker 3: different stocks.
36:25
Speaker 4: And that's when you get that big pamphlet that comes
36:27
Speaker 4: to your house like that probably nobody ever goes through. Yeah,
36:30
Speaker 4: and there's a bunch of these stocks and you're like,
36:32
Speaker 4: all right, well did I make money or that? Pretty
36:35
Speaker 4: much pretty much you know what I'm saying. Nobody's individually
36:38
Speaker 4: looking into one hundred and forty different stocks and then
36:40
Speaker 4: actually researching those stocks to see if they align with
36:44
Speaker 4: their values and moralities. This is not happening.
36:46
Speaker 3: No, it's not. But you can't say that you didn't
36:50
Speaker 3: know at least because we told you. So you know,
36:53
Speaker 3: if you're interested in it, you can do some further research.
36:57
Speaker 3: But so, just want to talk about the prison thing,
36:59
Speaker 3: because we did speak about the last week.
37:00
Speaker 4: And it's some other things to know about these srs.
37:04
Speaker 4: They tend to have a higher fee than regular funds,
37:08
Speaker 4: and so I was like, what doesn't make sense. Why, Well,
37:10
Speaker 4: the mutual fund has the person who's providing the fund
37:13
Speaker 4: actually has to do more research. So there's more work
37:16
Speaker 4: that the person has to do. Right, if they're gonna
37:18
Speaker 4: do things that match your core values and your moralities,
37:21
Speaker 4: it's like they have to find ethnical things that will
37:24
Speaker 4: work for you. So there's a little bit more research.
37:26
Speaker 4: So the fees tend to be a little bit higher.
37:28
Speaker 4: And there's a site that you can go if you're
37:30
Speaker 4: in social responsible investing. Social funds dot com is the website,
37:34
Speaker 4: so you can go research on yourself. So that that's
37:37
Speaker 4: one thing that you should do. Obviously, do the research
37:39
Speaker 4: and then know your values. A lot of people don't
37:41
Speaker 4: know their own values, so like when they're trying to invest.
37:43
Speaker 4: It's like, well, I believe there's know your own values
37:45
Speaker 4: before you're going to go into this type of fund.
37:47
Speaker 4: All right, so do the research. I just gave you
37:49
Speaker 4: the website. And another thing is a lot of times
37:51
Speaker 4: and we've said this website again social funds dot com.
37:56
Speaker 4: So you can go there on your own leisure and
37:58
Speaker 4: do some research there. But one of the things that
38:00
Speaker 4: it brought to my mind is like we talk about
38:02
Speaker 4: diversifying when we're investing, right, but like this type of
38:06
Speaker 4: fund doesn't It kind of doesn't allow you to do that, right,
38:08
Speaker 4: because if you're aligning everything with your values, isn't everything
38:12
Speaker 4: kind of going to be the same if you.
38:13
Speaker 3: No, No, you can invest in a variety of different companies
38:15
Speaker 3: that don't that still align with your values, Like you
38:19
Speaker 3: know what I'm saying, could be different industries. Like it's just
38:21
Speaker 3: it's just harder, like you said, because it's like you've
38:23
Speaker 3: really got to go through every single fine come because
38:27
Speaker 3: it's like, all right, you're invested in a tech company,
38:29
Speaker 3: but is this tech company providing software for weapons of
38:35
Speaker 3: mass destruction? So now it's just so much more intensive
38:39
Speaker 3: research that you have to do which is the fund
38:42
Speaker 3: manager's job. But you can still invest in a variety
38:44
Speaker 3: like you can invest in tech, you can invest in
38:48
Speaker 3: you know, farming, you can invest in financial institutions like
38:51
Speaker 3: you can invest in different companies. It's just that those
38:54
Speaker 3: different companies have to be in line with what you
38:57
Speaker 3: feel comfortable with.
38:58
Speaker 4: I would imagine that the these funds are managed by
39:01
Speaker 4: very very small companies. This feels like a niche thing
39:04
Speaker 4: that like very small companies do. No. Actually, Vanguard has
39:07
Speaker 4: well right, right right, you're right, you're right, Kanguard, that's
39:10
Speaker 4: a big one.
39:11
Speaker 3: So yeah, yeah, But so going to what you just
39:15
Speaker 3: said as far as the niche, so there's different layers
39:18
Speaker 3: of socially responsible fund as well. Like I said, your legion,
39:21
Speaker 3: we just had to provide as much information as we
39:23
Speaker 3: possibly can till every because there's so many different types
39:26
Speaker 3: of people in this world. So you got the socially
39:28
Speaker 3: conscious people that don't want to invest in those things.
39:32
Speaker 3: But religion is a huge thing in this world, and
39:35
Speaker 3: now you have religious people who can't or do not
39:39
Speaker 3: want to invest in certain things because of their religion.
39:42
Speaker 3: So now you have funds for that. It's fun for everything.
39:46
Speaker 3: So you have Christian funds like Guidestone is a Christian fund,
39:51
Speaker 3: and that's dedicated to investing companies that have core Christian values.
39:58
Speaker 3: Kind of a vague situation, but you know that's what
40:01
Speaker 3: that's designed for. You do some research and kind of
40:05
Speaker 3: do you have av Maria which is a Catholic fund.
40:11
Speaker 3: There's a few Catholic funds, so av Maria is Rising
40:15
Speaker 3: Dividend Fund. That's a that's one of their their popular funds,
40:19
Speaker 3: and that's a Catholic fund. So you know, Catholics, they're
40:23
Speaker 3: really big on like abortion and a couple other things.
40:26
Speaker 3: That's like real sticklers for the Catholic Church. So they
40:29
Speaker 3: only invest in companies that align with Catholic values. And
40:35
Speaker 3: then so just coming off the month of Ramadan, we
40:39
Speaker 3: have a large listenership all over the world and that
40:42
Speaker 3: includes America, which is their huge Muslim population. There is
40:47
Speaker 3: a huge Muslim population in Africa, huge Muslim population in
40:51
Speaker 3: Europe of course the Middle East. So we have to
40:54
Speaker 3: say Asalam Malakam to all of the Muslims that that
40:58
Speaker 3: tune in. And one thing about Islam is that that's
41:02
Speaker 3: actually you know, part of the religion is sharia law.
41:07
Speaker 3: Sharia law, so people have a misunderstanding a lot of
41:10
Speaker 3: times what Sharia law is. I'm not gonna go into
41:12
Speaker 3: a full but part of it is investing. Like there's
41:16
Speaker 3: actually guidelines, so it's not really up for like vague interpretation,
41:20
Speaker 3: like if you really are a hard line in the religion,
41:24
Speaker 3: there's financial guidelines of how you can invest. So like
41:27
Speaker 3: interest is outlawed in Muslim countries. So shouts our good
41:33
Speaker 3: friends in Egypt, and I was over the house yesterday
41:36
Speaker 3: and she was telling me that there's no there's no
41:38
Speaker 3: mortgages in Egypt. No mortgages in Egypt. You just buy
41:41
Speaker 3: the land. So interests, interest is outlaw. You're not allowed
41:46
Speaker 3: to charge anybody interest. That's one thing, right. Of course,
41:50
Speaker 3: if you're familiar with the religion, you know that. You
41:52
Speaker 3: know alcohol is outlawed a variety of different fact is gambling.
41:58
Speaker 3: There's no gambling. Gambling is outlaw. So in Islam you
42:03
Speaker 3: have halal in Haram. Haram is forbidden, Halo is allowable.
42:09
Speaker 3: That's like deemed okay, so now you.
42:12
Speaker 4: Have to actually look that up. That was crazy on
42:14
Speaker 4: the Jailtronic album.
42:16
Speaker 3: Okay, yeah, so now you have you have halal funds.
42:20
Speaker 3: One of the most popular funds is called a man
42:22
Speaker 3: of fund. So the a man of fund is a
42:25
Speaker 3: mutual fund based around Sharia law which is halal and
42:29
Speaker 3: allows Muslims that if you want to, if you want
42:32
Speaker 3: to follow those guidelines, that you can actually invest and
42:36
Speaker 3: the amount of fund only invest in alal companies meaning
42:41
Speaker 3: companies that don't partake in gambling, companies that don't partake
42:46
Speaker 3: and interest interest bearing accounts, companies that don't partake in alcohol,
42:52
Speaker 3: a variety of other things as well. So that's something
42:56
Speaker 3: that is a big play as well, because like I said,
42:58
Speaker 3: I mean, no matter what religion you follow, if you're Jewish,
43:01
Speaker 3: they have culture funds as well. It's the same thing
43:04
Speaker 3: kulshure and alal kind of the same thing as far
43:07
Speaker 3: as like the meaning of it, where like Jewish people
43:11
Speaker 3: have like if you're a strict hardline Jew, you are
43:14
Speaker 3: only really supposed to indulge in kulshure. But culture is
43:18
Speaker 3: more than.
43:18
Speaker 4: Just food, right, I think that's that's a crazy misconception
43:22
Speaker 4: that people only think it's a food.
43:23
Speaker 3: Then the same thing with allow, like you see the
43:24
Speaker 3: allow guys or the hallowed truck. So people when they
43:27
Speaker 3: think about hallo, especially like if you live in New
43:29
Speaker 3: York City or like, like you're pretty popular, it's pretty
43:31
Speaker 3: popular allowed food and that is a certain way where
43:35
Speaker 3: the food the animals like are you know, slaughtered and
43:38
Speaker 3: you say a prayer and certain things. The same thing
43:40
Speaker 3: with Kolshure. But that's only part of it. So like
43:43
Speaker 3: with the culture, that's the only part of it, Like
43:45
Speaker 3: you know, as far as like then that's the same
43:47
Speaker 3: kind of idea and like I said, that's that's true
43:51
Speaker 3: with a variety of different religions where it's like, you know,
43:54
Speaker 3: depending on what religion you subscribe to, that might you know,
44:00
Speaker 3: have a play in how you choose to invest. So
44:04
Speaker 3: those are all things to think about as well.
44:06
Speaker 4: I know they listening like yo, damn shitty, sound like
44:08
Speaker 4: a history professor. This dude literally studies religion like no
44:11
Speaker 4: Joe and anybody that knows has ever had a conversation
44:14
Speaker 4: with him, they know, like he loves talking about religion.
44:17
Speaker 4: Shout the val who always brings it up. She always
44:20
Speaker 4: talks about how you've taught us so much about the world.
44:22
Speaker 4: But yeah, I know this is one of your sweet points.
44:24
Speaker 3: So history has been my favorite subject since I was
44:26
Speaker 3: a little kid. Definitely, I took a history of religion
44:28
Speaker 3: class when I was in college, and I never study,
44:31
Speaker 3: never got one broken, got an A plus because I
44:33
Speaker 3: just already knew so much about religion, all religions. I'm
44:36
Speaker 3: just fascinated by, you know. I think it's interesting to
44:39
Speaker 3: learn about Christianity, Islam, Judaism, Buddhism, seek. I have friends
44:46
Speaker 3: that are all different religions, and you know, for me personally,
44:50
Speaker 3: I don't think that there's any one religion that is
44:54
Speaker 3: reigned supreme. It's whatever you know, you feel comfortable with.
44:57
Speaker 3: I'm not here to judge, but I just, you know,
45:00
Speaker 3: I always found religion interesting because I realized how how
45:04
Speaker 3: touchy it is, and it's like people dial over their religion,
45:06
Speaker 3: and people will kill you over their religion, and it's
45:08
Speaker 3: like you can't play around. Why we don't really talk
45:10
Speaker 3: about religion too.
45:11
Speaker 4: Much, and some people don't want to be separated from.
45:12
Speaker 3: You can't play around with religion. So it's like it's interesting,
45:16
Speaker 3: it's interesting to me, and it's fascinating. So I try
45:19
Speaker 3: to learn as much about religion as I possibly can
45:22
Speaker 3: because I feel like a lot of times, most of
45:23
Speaker 3: the time, we just we follow whatever religion we're born
45:25
Speaker 3: into and that's not really a belief system. That's more superstition.
45:29
Speaker 3: When you when you believe in something that you don't
45:31
Speaker 3: fully understand, is superstition.
45:33
Speaker 4: You've been bred to believe that.
45:34
Speaker 3: Stevie Wonder said that. So now when you have a
45:38
Speaker 3: full understanding of things, not only does it open your
45:41
Speaker 3: perspective and make you more open to the world, but
45:44
Speaker 3: at least even if the thing that you do fully
45:46
Speaker 3: believe in, you can actually believe in it as opposed
45:49
Speaker 3: to just doing it because everybody in your family does it,
45:53
Speaker 3: you feel like you're going to be cursed if you
45:55
Speaker 3: don't do it.
45:55
Speaker 4: You've been you've stunned the research on your own, You've
45:58
Speaker 4: allowed yourself to critically think, You've allowed yourself to analyze,
46:01
Speaker 4: and like that's the goal in life, right, allowed yourself
46:04
Speaker 4: and allow others to freely think and freely choose. You
46:08
Speaker 4: know what I'm saying, Like I think that is as
46:10
Speaker 4: an educator, Like that's the number one thing I'm looking for.
46:13
Speaker 4: Can I allow these students to critically think for themselves?
46:15
Speaker 4: And we should have that same mindset when it comes
46:18
Speaker 4: to our family and our children.
46:19
Speaker 3: That's a fact. So the last thing with the stocks.
46:22
Speaker 3: This is pretty disturbing. And it's all a financial place.
46:25
Speaker 3: So now people might want to invest in black owned companies.
46:29
Speaker 3: It's like, yeah, who are there invest in black But
46:32
Speaker 3: frombing investing standpoint, it's like, what if I want to
46:36
Speaker 3: invest money in the stock market, but I want to
46:38
Speaker 3: invest in black owned companies.
46:39
Speaker 4: A lot of people want to do that, right, But
46:41
Speaker 4: we we buy black. Shout out to them, Yeah, shout
46:43
Speaker 4: out to we buy black. Those my people, good, good people.
46:46
Speaker 4: So all right, it's like a black owned fund I
46:50
Speaker 4: couldn't find any. Could like a black ETF or a
46:53
Speaker 4: black mutual fund that only has black companies.
46:56
Speaker 3: Couldn't find any.
46:56
Speaker 4: Yeah, and maybe there are someome I couldn't find any either,
47:00
Speaker 4: but maybe there are.
47:01
Speaker 5: Well.
47:01
Speaker 3: I think the reason why there are none that I
47:03
Speaker 3: could find is that out of four thousand stocks on
47:07
Speaker 3: the New York Stock Exchange, twelve are black companies. Twelve.
47:12
Speaker 3: That is so disturbing that that's a whole different conversation.
47:15
Speaker 3: You're talking about economic and that's what people don't fully understand.
47:18
Speaker 3: It's like black people are so far behind. It's just
47:22
Speaker 3: it's almost it's amazing. It's like it's like running a marathon.
47:26
Speaker 3: And you like twenty three miles in and you just
47:30
Speaker 3: started the race, and somebody else is twenty three miles in.
47:32
Speaker 4: So it's like we're on a treadmill. That doesn't matter
47:35
Speaker 4: thing going on. We on a treadmill.
47:37
Speaker 3: That's not even one percent. That's less than one percent
47:40
Speaker 3: of twelve twelve out of four thousand companies are publicly traded.
47:45
Speaker 3: So you were talking about economic empowerment, and it's like
47:49
Speaker 3: a lot of times it's on a broader on a
47:50
Speaker 3: small scale, when you start looking at it from a
47:53
Speaker 3: large scale as far as like companies and billions of
47:56
Speaker 3: dollars and things of that nature, and like publicly traded companies,
47:59
Speaker 3: there's twelve out of four thousand.
48:02
Speaker 4: Yeah, like diversity, I mean, it's crazy. And during the research,
48:07
Speaker 4: I actually, you know, I was proud to find out
48:09
Speaker 4: that I'm actually invested in one, well not invested, but
48:12
Speaker 4: I do business with one at least, and I was
48:14
Speaker 4: I'm looking at the other ones. I'm like, I don't
48:15
Speaker 4: even know these. I don't even know these, So you
48:18
Speaker 4: want to run down field?
48:18
Speaker 3: Yeah, I got four that I people might know citizens
48:22
Speaker 3: with their their symbol is c z b S.
48:27
Speaker 4: That's what I actually have my mortgage through so not
48:30
Speaker 4: that I'm invested in it, but we do business together.
48:32
Speaker 3: Yeah, Citizens is a black owned bank.
48:34
Speaker 2: Yeah.
48:34
Speaker 3: For one, like the number four one and that is
48:40
Speaker 3: formally used to be Urban one, which is a radio No,
48:44
Speaker 3: it's Urban one. For to one is Urban one and
48:46
Speaker 3: it used to be Radio one. Okay, it's a radio syndicate.
48:50
Speaker 4: No.
48:51
Speaker 3: R l J, which is a lodging lodging company owned
48:56
Speaker 3: by Robert Johnson, former owner of BT, former owner of
49:00
Speaker 3: the Bobcats.
49:00
Speaker 4: Yep. First billionaire for his black billionaire.
49:05
Speaker 3: Yeah, I think so. And then Carver Bank another black
49:11
Speaker 3: owned thing. There's a few black owned banks, Yeah, Carver Bank, which.
49:14
Speaker 4: Is encouraging that they have. We have black owned banks
49:17
Speaker 4: that are being publicly traded.
49:19
Speaker 3: That's important. You want to list a few others.
49:21
Speaker 4: Well, those we have the same one.
49:23
Speaker 3: So but so yeah, so but so. Not only is
49:27
Speaker 3: this discouraging that there's only twelve, even more so discouraging
49:30
Speaker 3: than that, it's like you look at these charts, looked
49:32
Speaker 3: at all of their charts. None of them have good charts,
49:34
Speaker 3: none of them. None of them. You look at Ian's
49:38
Speaker 3: technical analysis would be buys as far as if you
49:40
Speaker 3: want to make money. They've all been they haven't, they don't.
49:44
Speaker 3: They're not doing well as far as on the stock.
49:46
Speaker 3: The stock has not done well for five years. Are
49:48
Speaker 3: looking at the five year chart and it's not good.
49:51
Speaker 4: And it's going to be tough to find that a
49:53
Speaker 4: lot of these companies have a ten year chart or
49:55
Speaker 4: twentieth even sometimes it goes back to the history thirty
49:57
Speaker 4: year chart. A lot of these companies that doesn't exist.
50:02
Speaker 4: It just doesn't exist.
50:02
Speaker 3: Yeah, I don't even know what to say about that.
50:04
Speaker 3: That's just that's something just to like as far as
50:07
Speaker 3: working forward to something.
50:08
Speaker 4: But that's I mean, a lot of that has to
50:10
Speaker 4: do with a lot of systematic things that were put
50:11
Speaker 4: in place so that it couldn't exist. We won't want
50:13
Speaker 4: to ignore that fact, right, So having our own private
50:16
Speaker 4: own company, or even having a black owned bank systematically
50:20
Speaker 4: in America for years, that wasn't even a possibility. So
50:22
Speaker 4: there are reasons why we don't have a long history
50:24
Speaker 4: of it. So let's not ignore that fact. But like
50:27
Speaker 4: I said, when we go back to the history of
50:28
Speaker 4: some of these companies that we look at, we do
50:30
Speaker 4: look at the ten year charlt, we do look at
50:31
Speaker 4: twenty year O the history of the company's chart and
50:33
Speaker 4: that's just not available right now for these companies.
50:36
Speaker 3: Yeah, so you know that's some information if you're interested
50:40
Speaker 3: in socially responsive funds, religious funds, black owned companies. You know,
50:45
Speaker 3: just a different, different take on investing, because we talked
50:48
Speaker 3: about investing a lot. So we just want to just
50:50
Speaker 3: give people a different a different take on it. And
50:53
Speaker 3: you can kind of do whatever you want with the information,
50:55
Speaker 3: but you know, hopefully that that shine some light good
50:59
Speaker 3: and bad, good and back, because everything's not going to
51:01
Speaker 3: be a good story.
51:02
Speaker 4: Yeah.
51:02
Speaker 3: Sometimes, you know, it's just the news is just that
51:04
Speaker 3: we have to just report what it is. And it's
51:08
Speaker 3: not always it's not always encouraging, but sometimes you need
51:11
Speaker 3: stuff that's not encouraging to encourage.
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