1 00:00:00,080 --> 00:00:03,120 We have a friend from here from the house invited to Luis Serrano today. 2 00:00:04,440 --> 00:00:08,000 He' s got his Twitter account He talks a lot about economics. I 3 00:00:08,039 --> 00:00:13,320 was talking these days about the profit partition division of a company that is listed 4 00:00:13,359 --> 00:00:17,280 on stock exchanges. Here, in Dominican Republic, the same concept is used 5 00:00:17,320 --> 00:00:20,760 as in the United States, when they call on listed companies and people can 6 00:00:21,039 --> 00:00:25,399 invest or buy shares of companies, public companies. Yes, yes, it 7 00:00:25,480 --> 00:00:29,120 is the right term public enterprise, although it creates confusion because I tell you 8 00:00:29,199 --> 00:00:31,399 that a company becomes public and you maybe think that the government makes it state 9 00:00:31,440 --> 00:00:39,359 property. Yes, exactly. Yes, because in Latin America, public enterprises 10 00:00:39,520 --> 00:00:43,200 are state- owned companies, but the correct way to call these companies are 11 00:00:43,280 --> 00:00:46,439 state- owned companies. Right, yeah, yeah, yeah. The right 12 00:00:46,479 --> 00:00:50,479 ones would be state enterprise. And for companies that have publicly available shares for 13 00:00:50,600 --> 00:00:54,119 everyone to buy, then they are public companies. The public companies, then 14 00:00:54,240 --> 00:00:58,000 the private ones are the ones that have only one owner, a group of 15 00:00:58,759 --> 00:01:00,119 owners that among them is that they are divided of the shares. Right. 16 00:01:00,479 --> 00:01:06,159 An example of private companies that is Dominican republic, Tijito the immense marinade. 17 00:01:06,280 --> 00:01:10,000 This is a private company. In essence, all but that Caesar Churches correct 18 00:01:10,040 --> 00:01:12,040 church. The idea of private public also has a lot to do with information. 19 00:01:12,599 --> 00:01:17,280 For example, if I wanted to see the financial statements of this company. 20 00:01:17,519 --> 00:01:19,480 I couldn' t see, I can' t, but those of 21 00:01:19,480 --> 00:01:22,239 c that Church, if everyone can give them, are public accesses for everything. 22 00:01:22,519 --> 00:01:26,000 It' s ok because as it' s on public offer to invest 23 00:01:26,000 --> 00:01:27,959 in it. Yes correct, because in what is Dominican republic. The issue 24 00:01:29,000 --> 00:01:32,159 of stock exchange investment has grown a lot, there are stock exchanges, etcetera. 25 00:01:32,319 --> 00:01:38,439 Luis and people alike, they kind of don' t understand much about 26 00:01:38,519 --> 00:01:42,560 making a stock market. It surprises me sometimes when I talk to friends who 27 00:01:44,719 --> 00:01:48,560 have their jobs in the United States or who have businesses and say independent activities 28 00:01:48,560 --> 00:01:53,439 and say good Alberto, I earned five thousand dollars and with such an application 29 00:01:53,560 --> 00:01:57,640 I will see to invest in Apple this month. Yeah, and that' 30 00:01:57,799 --> 00:02:00,599 s how easy it is for anyone to sit with you and explain to you 31 00:02:00,719 --> 00:02:01,799 that I know you won a hundred dollars for five thousand dollars a week, 32 00:02:01,799 --> 00:02:05,040 a sheath. So and it' s not that common here is that you 33 00:02:05,040 --> 00:02:07,040 can only attribute. It' s been like a global trend. I understand 34 00:02:07,040 --> 00:02:08,560 it' s been a big part of the pandemic. People are locked in 35 00:02:08,560 --> 00:02:12,639 their house and objected to all those platforms. For example, there' s 36 00:02:12,680 --> 00:02:15,159 a specific one in America, I think it' s called Robin Hoo, 37 00:02:15,199 --> 00:02:17,439 something like that' s great success, all the vito, great success during 38 00:02:17,520 --> 00:02:20,599 the pandemic and making it easy for people and people locked in their house, 39 00:02:20,919 --> 00:02:23,439 because one, it' s a way to produce in quotation marks. So, 40 00:02:24,000 --> 00:02:29,800 in the case of you, you were asking something that I don' 41 00:02:30,280 --> 00:02:34,879 t see very well and maybe because of the custom and most of the person. 42 00:02:35,759 --> 00:02:38,199 It' s also about the investment in stock market, because when you 43 00:02:38,240 --> 00:02:43,319 talk about investment, or that I' m going to invest in the stock 44 00:02:43,319 --> 00:02:46,199 market, Caesar exactly. I invest, for example, I buy five thousand 45 00:02:46,520 --> 00:02:50,080 pesos of action obligations. I want to see six pesos, for example, 46 00:02:51,039 --> 00:02:53,919 a month at the and if I can' t get out of it for 47 00:02:53,000 --> 00:02:58,759 my account over its rules, that' s doing the actual ones, you 48 00:02:58,759 --> 00:03:01,840 can. Suppose you want to see yourself in any company. Suppose you want 49 00:03:01,879 --> 00:03:05,560 to invest in the corner pallet, assuming it' s a public company and 50 00:03:05,639 --> 00:03:07,319 you buy the stock. Today, every action of that company is 100 pesos 51 00:03:07,520 --> 00:03:10,560 and tomorrow people understand and that more than a hundred weight, section should be 52 00:03:10,680 --> 00:03:15,840 worth 120 pesos. Technically you earned 20 pesos. If you sold it, 53 00:03:15,960 --> 00:03:19,240 you' d earn those 20 pesos. It' s a way you can 54 00:03:19,240 --> 00:03:22,319 get money or you can wait for the end of the year to come, 55 00:03:22,800 --> 00:03:24,840 for the paletero to gather all his money, so his accounting and I said 56 00:03:24,879 --> 00:03:29,199 good. This year I earned four thousand pesos. If I am going to 57 00:03:29,280 --> 00:03:31,120 divide them among my shareholders, which is what is called dividends, then you 58 00:03:31,240 --> 00:03:35,759 do not have to sell the stock for you to make a profit, because 59 00:03:35,800 --> 00:03:38,000 it is understood that at the end of the year the company will distribute what 60 00:03:38,120 --> 00:03:42,759 is given to it at the exact end, exactly what is the difference between 61 00:03:43,159 --> 00:03:46,919 the banks and in this case, a listed company, because I also saw 62 00:03:46,199 --> 00:03:50,240 the news that a bank of the commercials of the country or of the largest, 63 00:03:50,520 --> 00:03:54,080 divided among its shareholders, dividing by twenty- six zero and peak of 64 00:03:54,080 --> 00:03:58,319 millions of pesos, if the second largest bank, the second largest bank in 65 00:03:58,360 --> 00:04:00,840 the country. But what is the difference that there is between a bank and 66 00:04:01,039 --> 00:04:03,560 like but a bank and how it can become shares of a bank and not 67 00:04:03,680 --> 00:04:08,719 then I, who goes to the Stock Exchange, see how the shares are 68 00:04:08,759 --> 00:04:11,680 flowing, how they have behaved in nine ten months of that church and that 69 00:04:11,719 --> 00:04:15,280 I am going to invest or in this bank open a final certificate There are 70 00:04:15,759 --> 00:04:20,240 differences, yes, it is significant between one type of investment and the other, 71 00:04:20,439 --> 00:04:24,759 between one type of shareholder and another type of shareholder. Yes, in 72 00:04:24,800 --> 00:04:27,800 the specific case of banks. What we talked about at the beginning is that 73 00:04:27,920 --> 00:04:30,040 information is public, not public. Banks have all their public information. You 74 00:04:30,079 --> 00:04:33,319 can come in. As they are situations regulated by the superintendency. You can 75 00:04:33,319 --> 00:04:36,680 enter and they have public information, they have liquidity ratios. You may know 76 00:04:36,680 --> 00:04:41,519 how much to have the popular are You may know how much the popular has 77 00:04:41,519 --> 00:04:43,800 their bank account. All that information is public. You can see her. 78 00:04:44,439 --> 00:04:47,160 The main difference is the moment you want to invest in that company, because 79 00:04:47,199 --> 00:04:49,519 in the case of that being churches, all you have to do is go 80 00:04:49,600 --> 00:04:53,879 to a stock market, say good look. I want to invest in making 81 00:04:54,120 --> 00:04:57,000 churches and you be the diligence this has the money. Trust me that you 82 00:04:57,000 --> 00:04:59,240 will get to invest in that to make churches in the case, for example, 83 00:04:59,439 --> 00:05:02,720 of one of these major banks of country. Some have as websites cannot 84 00:05:02,879 --> 00:05:06,560 be registered and in case some of the current shareholders want to sell their shares, 85 00:05:08,000 --> 00:05:11,360 then they call people. Ah, well, look who' s full 86 00:05:11,360 --> 00:05:11,959 and I don' t want you to come and they' re calling you. 87 00:05:12,240 --> 00:05:15,399 But it' s kind of complex, because there you are, they 88 00:05:15,920 --> 00:05:17,279 ' re long, I mean, they' re very large institutions. There 89 00:05:17,319 --> 00:05:20,959 ' s a lot of people interested. Not sure. If there are people 90 00:05:21,199 --> 00:05:25,319 I once heard and found it odd, says since you have a financial certificate 91 00:05:25,439 --> 00:05:30,959 invested in was a bank, you are already a shareholder, the standing bank 92 00:05:30,079 --> 00:05:32,759 where you stand and the bank bar you win. That' s information or 93 00:05:32,759 --> 00:05:36,879 it' s not distorted. Yeah, it' s totally different, I 94 00:05:36,959 --> 00:05:40,199 totally heard it repeat that and I don' t know. It didn' 95 00:05:40,279 --> 00:05:42,920 t make sense to me. In fact, imagine out like that, that 96 00:05:42,959 --> 00:05:45,519 would be the easiest thing. Imagine a bank breaks down, right, the 97 00:05:45,600 --> 00:05:47,480 bank broke down. I don' t know, I hope it never happens, 98 00:05:47,720 --> 00:05:49,959 right,' cause it' s already happened to us. We have 99 00:05:49,959 --> 00:05:53,560 experience. You were still a child, but I can tell you that I 100 00:05:53,600 --> 00:05:56,920 passed the decaden. Yeah, yeah, terrible. Yeah, a bank breaks 101 00:05:56,920 --> 00:05:59,800 down. What they do is they start, they declare bankruptcy and they start 102 00:06:00,000 --> 00:06:02,560 selling all their assets, their offices, everything they have. And with that 103 00:06:02,600 --> 00:06:06,480 they begin first with the money they manage to raise to settle debts. That 104 00:06:06,480 --> 00:06:09,720 ' s the first thing. With an institution that breaks down it has to 105 00:06:09,759 --> 00:06:12,480 make it pay off its debts because your bankruptcy because you say well, I 106 00:06:12,560 --> 00:06:15,040 can' t pay my debts. Then give me a chance that what I 107 00:06:15,040 --> 00:06:18,079 ' m carrying I' m getting money and I' m paying you here 108 00:06:18,079 --> 00:06:20,279 and paying there for a certificate. The person who invests in a certificate is 109 00:06:20,279 --> 00:06:25,120 lending money to the bank. The moment you open the I D to the 110 00:06:25,240 --> 00:06:28,600 bank owes you then if the bank breaks down, the money will first be 111 00:06:28,600 --> 00:06:30,399 returned to the person who has certified. First of all, those are the 112 00:06:30,480 --> 00:06:34,720 first certified accounts and I save all those kinds of things that are what there 113 00:06:34,720 --> 00:06:40,040 is maybe a maximum amount. In fact, version like this is a change. 114 00:06:40,399 --> 00:06:44,000 I mean, the accounts are secured, they have an amount of insurance 115 00:06:44,079 --> 00:06:46,000 on the part of the law, but if the institution broke the first thing 116 00:06:46,040 --> 00:06:49,279 they would do with the money would be to give back the money to the 117 00:06:49,360 --> 00:06:53,800 people they owe after the whole list of people, people who have certificates and 118 00:06:53,800 --> 00:06:58,120 other mass people is gone, then, if there is more money, it 119 00:06:58,120 --> 00:07:01,959 is shared among the shareholders. I mean, we' re talking about risk 120 00:07:02,040 --> 00:07:08,160 level being the oldest. The action is much more. They' re from 121 00:07:08,240 --> 00:07:13,240 a bank that have a certificate in a bank. Now, this bank in 122 00:07:13,279 --> 00:07:15,560 question that we' re talking about announced like twenty- six, twenty- 123 00:07:15,759 --> 00:07:17,439 five billion pesos in profits. That' s all everyone, of course, 124 00:07:17,519 --> 00:07:21,480 and that' s earned by the one who takes the risk. But the 125 00:07:21,680 --> 00:07:29,399 shareholder of a year of correct commercial operation is said to be and this is 126 00:07:29,720 --> 00:07:36,720 finance street economy. For example, there' s a limit for a person 127 00:07:36,759 --> 00:07:42,680 who saves in a bank, right, there' s a limit for you 128 00:07:42,720 --> 00:07:46,560 to become a saver for that bank, so it automatically becomes a shareholder. 129 00:07:46,600 --> 00:07:49,319 For example, two hundred million pounds. I' ve got a equibanc. 130 00:07:49,360 --> 00:07:53,959 You' re already a shareholder. No. No, I understand they' 131 00:07:54,040 --> 00:07:57,040 ll treat you better You' ve got two hundred million pesos. They' 132 00:07:57,120 --> 00:07:59,920 re definitely gonna give you like a plate that alone hundreds million makes you bigger 133 00:08:00,040 --> 00:08:01,160 possibly what' s wrong with you. How it happened to some of our 134 00:08:01,240 --> 00:08:05,000 acquaintances who called him. He got a check. What' s the name 135 00:08:05,000 --> 00:08:07,319 of this check from us. We don' t want to do that business 136 00:08:07,319 --> 00:08:13,800 with you. Go somewhere else that doesn' t smell ugly to us. 137 00:08:13,959 --> 00:08:16,839 This looks at the legitimate business. What happens is that we were seeing a 138 00:08:16,879 --> 00:08:22,240 lot of money at the time on this investment issue. Peter asks a question 139 00:08:24,160 --> 00:08:31,560 that gave me another doubt. Also since we don' t have so much 140 00:08:31,639 --> 00:08:37,120 knowledge on the subject in the financial field, it can lead us to believe 141 00:08:37,279 --> 00:08:41,360 that investing any amount is going to you multiply that amount in a certain way, 142 00:08:41,559 --> 00:08:46,200 that is, at what point and at what type of investment it is 143 00:08:46,320 --> 00:08:48,320 advisable to invest a certain amount. Let' s say, I have a 144 00:08:48,240 --> 00:08:52,639 million pesos and I want to buy shares of the only public company and now 145 00:08:54,480 --> 00:08:58,039 it would be a would be. My expectations could be real and I understand 146 00:08:58,120 --> 00:09:01,720 that million pesos is going to turn me into two a year. Or they 147 00:09:01,759 --> 00:09:05,120 ' re too high expectations. Of course or if I buy an apartment or 148 00:09:05,200 --> 00:09:09,279 what I' m not seeing and that I bought it in a million to 149 00:09:09,279 --> 00:09:13,000 three years, it' s worth three, that would be a good investment 150 00:09:13,000 --> 00:09:16,159 expectation. Which one it should be. From whenever, you must consider some 151 00:09:16,159 --> 00:09:20,639 kind of investment for your power, your money. Betting your money on those 152 00:09:20,720 --> 00:09:26,559 investments clearly looks at the end the banks situations that offer over- investment options. 153 00:09:26,120 --> 00:09:28,919 What they do to you is this. They say well, this investment 154 00:09:28,960 --> 00:09:31,960 is very little risky. I' m assuming, as a bank, most 155 00:09:31,960 --> 00:09:35,600 of the risk. So, the interest rate that I' m going to 156 00:09:35,720 --> 00:09:37,440 offer you the return on that investment is going to be very low, because, 157 00:09:37,519 --> 00:09:41,000 I mean, what are you putting in here nothing money. But if 158 00:09:41,519 --> 00:09:45,440 you lose money, because I think it' s vital, the u is 159 00:09:45,440 --> 00:09:48,399 important, it' s important. Risk is the key part. So, 160 00:09:48,600 --> 00:09:50,759 understanding that there are more risky and less risky things, so probably the most 161 00:09:50,799 --> 00:09:54,919 risky thing, has the chance of art a higher performance or a greater loss. 162 00:09:56,440 --> 00:10:01,639 You have to balance the ideal would be to invest more money where you 163 00:10:01,679 --> 00:10:03,000 have the lowest level of risk and where there is a lot of risk. 164 00:10:03,080 --> 00:10:07,960 Digas crypto vietcon coins of others. It' s investing a lot of money 165 00:10:09,039 --> 00:10:11,639 if the risk is too high, that you' d be quiet. If 166 00:10:11,720 --> 00:10:16,240 that' s lost tomorrow. There' s ok and I mean, I 167 00:10:16,320 --> 00:10:20,879 have fifty thousand dollars and I put two thousand in exact bitcoin to see if 168 00:10:20,879 --> 00:10:24,960 in six months they become five or six thousand. It would be a sure 169 00:10:26,120 --> 00:10:28,600 bet to say something in poque, but if you miss the$ 2, 170 00:10:28,759 --> 00:10:31,600 000, I won' t go bankrupt or anything like that. It is 171 00:10:31,720 --> 00:10:35,000 also important for you to be who you are as a person, because, 172 00:10:35,279 --> 00:10:37,919 for example, a person who is sixty years old who may sell an apartment, 173 00:10:39,120 --> 00:10:41,440 is already retiring, no, has no plans to work anymore and is 174 00:10:41,480 --> 00:10:45,559 looking for what to do with the money. You might want to invest all 175 00:10:45,639 --> 00:10:48,799 that money in a financial certificate. One hundred percent of the money gave it 176 00:10:48,919 --> 00:10:52,519 a quieter risk. You know what you' re gonna earn every month without 177 00:10:52,519 --> 00:10:56,120 any problems. Instead, if you are a younger person who may know that 178 00:10:56,679 --> 00:10:58,799 you have time, if you lose the money you are going to invest to 179 00:10:58,799 --> 00:11:03,360 get them back, you are going to keep working, then you can invest 180 00:11:03,600 --> 00:11:05,360 in other things that are more risky, but it can give them a better 181 00:11:05,360 --> 00:11:07,240 one. There' s a part we' re talking about with Luis Ra 182 00:11:07,240 --> 00:11:11,039 No. He' s a trained boy. I say boy because you' 183 00:11:11,120 --> 00:11:13,799 re so much younger than I trained in. I know that you may be 184 00:11:13,840 --> 00:11:18,639 eighteen years old from the boot, call it a boy. I have formed 185 00:11:18,720 --> 00:11:22,240 very solidly on the subject of economics, investment and all these issues and we 186 00:11:22,279 --> 00:11:26,519 invite you to talk a little bit about this matter because on this subject, 187 00:11:26,559 --> 00:11:31,080 Peter, to go with you, you talk about risk and I want friends, 188 00:11:31,320 --> 00:11:35,720 especially my friend Daniel, who is listening, to understand that the greater 189 00:11:35,720 --> 00:11:41,559 the profit, the greater the risk always and if she is a cousin or 190 00:11:41,399 --> 00:11:45,559 a friend who tells you with that that that all those four million I am 191 00:11:45,559 --> 00:11:46,799 going to make you in eight. It' s just that he' s 192 00:11:46,879 --> 00:11:50,480 going to have it with the four million, not that he' s going 193 00:11:50,519 --> 00:11:52,600 to share it with you in eight, which is that he' s going 194 00:11:52,679 --> 00:11:54,399 to give you four million Pa thirty first, but you' re going to 195 00:11:54,399 --> 00:11:54,399 give him the same eight million and he' s going to leave with the 196 00:11:54,399 --> 00:11:58,000 eight. So that works. Look, that doesn' t fail. Not 197 00:11:58,120 --> 00:12:01,399 buttered, a buttered one. The case of the girl I' m talking 198 00:12:01,480 --> 00:12:07,639 about my friend Luis Daniel, who was the one who I told the mud 199 00:12:07,639 --> 00:12:15,799 millions of pesos, who they call Corripi and who was right. Botellona worries 200 00:12:15,879 --> 00:12:20,200 that there is no reason why Luis Hermano said something that I think we take 201 00:12:20,240 --> 00:12:24,320 into account, sometimes out of ignorance, sometimes out of good faith, sometimes 202 00:12:24,399 --> 00:12:28,360 out of confidence. And it' s just that you never ask what' 203 00:12:28,399 --> 00:12:31,480 s the risk of that coming out of us. And there' s a 204 00:12:31,879 --> 00:12:35,159 number that allows you to calculate that if in the end, the ries is 205 00:12:35,159 --> 00:12:37,720 a clear equation, the risk, in theory is the chance that the result 206 00:12:37,799 --> 00:12:41,000 that I want isn' t met. So, for example, in the 207 00:12:41,039 --> 00:12:43,759 case of butter, butter. Think of this as they' re trying to 208 00:12:45,000 --> 00:12:46,960 seduce you truth, like they' re trying to ride. So for me 209 00:12:48,039 --> 00:12:50,919 to ride you if I' m very ugly I have to have a murderous 210 00:12:50,960 --> 00:12:52,519 cotorra, then my cotaro in the case of investments is the return I' 211 00:12:52,519 --> 00:12:54,159 m going to give you. If I know what I' m doing is 212 00:12:54,200 --> 00:12:58,279 kind of doubtful, unsure, and that' s what I' m going 213 00:12:58,360 --> 00:13:01,200 to offer you, double the banker' s salary and that' s going 214 00:13:01,279 --> 00:13:03,679 to be my great offer of fun. I know that in that you say 215 00:13:03,799 --> 00:13:09,120 the risk of mine, in that type of very high actions, not everything 216 00:13:09,200 --> 00:13:13,440 that gives, everything that gives hears, that is, the average effectiveness in 217 00:13:13,559 --> 00:13:22,399 quail is zeroness plague that you know that in recent times a word has been 218 00:13:22,480 --> 00:13:24,960 put in a way. I don' t know what he' s gonna 219 00:13:24,960 --> 00:13:26,919 say, because I don' t know what that is either. But there 220 00:13:28,000 --> 00:13:31,519 are two things. There is one issue that they call a tax haven, 221 00:13:31,039 --> 00:13:35,559 yes, and there is another issue that they call a fida incofin. So 222 00:13:37,200 --> 00:13:39,320 you, I repeat, you don' t know what I' m going 223 00:13:39,399 --> 00:13:41,879 to answer and I see it as cat soup. First, what is that 224 00:13:41,120 --> 00:13:46,000 and, second or when it is recommended to do that kind of thing. 225 00:13:48,440 --> 00:13:50,759 Well, look at the first part that comic sufi is that, well, 226 00:13:50,799 --> 00:13:52,919 let' s start with the look right there, right there. I' 227 00:13:52,919 --> 00:13:54,200 ll ask you a question. Oh, don' t forget. It has 228 00:13:54,240 --> 00:13:58,879 to do with something the President said about something he was accused of, and 229 00:13:58,080 --> 00:14:03,600 he explained a reality, which is a problem of the law of the Dominican 230 00:14:03,600 --> 00:14:07,679 Republic. To continue on and a tax haven, a tax country. In 231 00:14:07,799 --> 00:14:11,919 theory, to make a fully functioning tax haven, it should fulfill three things. 232 00:14:13,039 --> 00:14:16,679 First, whether taxes are zero or very low, so if I have 233 00:14:16,720 --> 00:14:18,720 my money there, I know that the government will not come tomorrow and will 234 00:14:18,720 --> 00:14:20,919 say fifty percent taxes, I will have to pay all my money to the 235 00:14:20,960 --> 00:14:26,080 state. I should be number one, number two, sure, that I 236 00:14:26,200 --> 00:14:28,759 know that I have a stable government, quiet, that there is no revolutionary 237 00:14:28,759 --> 00:14:31,720 leader, that I will expropriate what, whatever I am going to buy, 238 00:14:31,080 --> 00:14:35,039 that I am safe and without any problems. An island allays a sheath like 239 00:14:35,039 --> 00:14:37,720 that, but there are banks specific to that. In countries in parís or 240 00:14:37,759 --> 00:14:41,159 fiscal countries there are usually specialized banks, but the number three, which is 241 00:14:41,240 --> 00:14:45,000 the one that is most valued and I think that it is on the way 242 00:14:45,039 --> 00:14:50,279 to what you are going to ask me is that there is confidentiality that, 243 00:14:50,600 --> 00:14:54,480 for example, something that is very common in fiscal parísos, from banks tax 244 00:14:54,519 --> 00:14:56,120 is that the accounts do not have names of people. I mean, if 245 00:14:56,200 --> 00:14:58,399 I open an account in the fiscal paríso, there' s no account of 246 00:14:58,440 --> 00:15:03,519 Luis Erran' s man. There' s an account in the name of 247 00:15:03,600 --> 00:15:05,320 nine hundred six, five, eight or ninety fifteen x. So I all 248 00:15:05,360 --> 00:15:07,000 sign it nine, six one hundred and eight n one thousand fifteen x. 249 00:15:07,639 --> 00:15:11,480 My name doesn' t appear anywhere, and that' s something people value 250 00:15:11,559 --> 00:15:16,759 very much, because imagine, Switzerland has that secrecy Andos rapas the same two 251 00:15:16,919 --> 00:15:20,480 other countries in northern Europe and Asia as well and like me, I withdraw 252 00:15:20,519 --> 00:15:26,120 my money without me your number number, you have an assigned number, that 253 00:15:26,159 --> 00:15:31,440 you have a document that certifies that it is you. But then, seeing 254 00:15:31,919 --> 00:15:35,159 a few days ago to put in contexts, Roberto Rosario made an affirmation of 255 00:15:35,279 --> 00:15:43,519 the President' s fortune and he, in his statement, stated that he 256 00:15:43,639 --> 00:15:46,320 had more investments in virgins in one I don' t know what, and 257 00:15:46,440 --> 00:15:50,799 the President, in a very calm way, responded. I know that what 258 00:15:50,840 --> 00:15:54,360 the President is saying is just as it is, because I have friends who 259 00:15:54,519 --> 00:16:00,279 have the same operability in their companies. He says that the issue we have 260 00:16:00,320 --> 00:16:06,039 Dominican Republic is the law of societies. What prevents them from actually operating in 261 00:16:06,120 --> 00:16:08,600 some way from companies like those they need, etc, to buy from battery. 262 00:16:08,639 --> 00:16:14,639 First of these things. The point is that he was talking about what 263 00:16:14,759 --> 00:16:18,720 there is for, for example, war in the state, from the work 264 00:16:18,799 --> 00:16:21,360 in the United States, it allows and gives you ease of your power to 265 00:16:21,440 --> 00:16:26,840 create island societies, virgins, Panama, etcetera. What a difference there is 266 00:16:26,919 --> 00:16:30,519 between what he points out is that I set up a company in Panama, 267 00:16:30,840 --> 00:16:36,080 but my purpose is to buy him clin that was a company in Turkey or 268 00:16:36,120 --> 00:16:38,399 China or wherever it is for me to make cements and make it easier, 269 00:16:40,000 --> 00:16:41,639 because from Dominican Republic I find it more difficult to see what you are talking 270 00:16:41,639 --> 00:16:47,080 about. What you mentioned at the beginning is a question of entrepreneurship already of 271 00:16:47,200 --> 00:16:49,360 me looking for the way to be able to do the easiest thing in order 272 00:16:49,399 --> 00:16:52,840 to complete the end that I have with my company that in this case totally 273 00:16:52,879 --> 00:16:55,679 legal, as it can be in a cement plant. The original thing we 274 00:16:55,720 --> 00:16:59,240 were talking about is more. For example, in this country you can see 275 00:16:59,240 --> 00:17:03,120 a lot in great family fortunes, people who have money from a long time 276 00:17:03,159 --> 00:17:07,279 ago and those who come to inherit it because in the end it seemed to 277 00:17:07,799 --> 00:17:11,640 think here we have passed dictatorship, then we had Juan Bosch briefly coup d 278 00:17:11,640 --> 00:17:12,359 'état, war of April, we have had a President who has committed 279 00:17:12,359 --> 00:17:15,839 suicide. There have been great periods of instability. Then we had more or 280 00:17:17,039 --> 00:17:19,319 less stability with Balaguer and then the Peledé came with more or less stability and 281 00:17:19,359 --> 00:17:22,880 then we had to see from a bank and there have been many strange things. 282 00:17:22,920 --> 00:17:26,440 Passing through the Dominican Republic, which can more or less destabilize those great 283 00:17:26,519 --> 00:17:30,400 fortunes then, what they are looking for in the long term, is countries 284 00:17:32,279 --> 00:17:34,759 that allow me to have, first, my safe money, an exact plan, 285 00:17:36,119 --> 00:17:37,960 my safe money. And second, no, I' m not staying. 286 00:17:37,359 --> 00:17:42,319 And second, if in these periods of instability one never knows what can 287 00:17:42,319 --> 00:17:45,920 happen, there can come a revolutionary leader who decides ah idel Castro, as 288 00:17:47,039 --> 00:17:49,440 in Cuba, who decides to take away everything he has in Venezuela from all 289 00:17:49,559 --> 00:17:53,160 of us own and in that case it is good for me that no one 290 00:17:53,200 --> 00:17:57,720 knows what I have to keep low profile, not necessarily with bad intentions, 291 00:17:57,920 --> 00:18:02,640 not necessarily with the intention of avoiding taxes, because, in fact, that 292 00:18:02,720 --> 00:18:03,920 is not evasion, it is illusion. Yes, and here, here, 293 00:18:03,960 --> 00:18:07,240 in the Dominican Republic, most of the so- called state revenues come from 294 00:18:07,240 --> 00:18:11,839 large taxpayers, that is from large companies, that is, large companies pay 295 00:18:11,240 --> 00:18:18,519 most of the taxes. But we can say that big business is maliciously taxed 296 00:18:18,720 --> 00:18:22,200 in Dominican Republic, because most of the state' s revenue from tax matters 297 00:18:22,279 --> 00:18:26,640 comes from large companies, not small small companies, but from large companies, 298 00:18:26,640 --> 00:18:29,720 but from issues of protection, without being able to think in the long term. 299 00:18:30,160 --> 00:18:33,359 And, as I tell you, it looks more common in people who 300 00:18:33,400 --> 00:18:36,920 have money from a long time ago, as they went through all these processes, 301 00:18:37,079 --> 00:18:40,559 because they try to look for these places where their money is safe and 302 00:18:40,559 --> 00:18:47,599 secure. There were these days they were also talking about pite asking you about 303 00:18:47,599 --> 00:18:51,920 that, about the handling of the amount of hydroca has been handled in these 304 00:18:52,039 --> 00:18:56,680 four years and there are many people who may not understand that it is a 305 00:18:56,759 --> 00:19:00,839 budget of the other thing, that which encompasses the entire economic operation, in 306 00:19:00,920 --> 00:19:04,440 this case, Dominican Republic of the style. Peter' s question seemed interesting 307 00:19:04,519 --> 00:19:08,240 to me, since he did come out as well as not, as long 308 00:19:08,440 --> 00:19:15,279 as they didn' t see it, since he came out that we can 309 00:19:15,359 --> 00:19:18,720 understand a little better all these issues for example, a boyfriend at the end 310 00:19:18,839 --> 00:19:23,759 of last year the budget is not missing little of a three billion weight when 311 00:19:23,759 --> 00:19:26,799 you talk about all that, when they say about budget what they mean, 312 00:19:27,599 --> 00:19:30,799 that' s the money that encompasses the entire Dominican economy, or that' 313 00:19:30,880 --> 00:19:33,720 s the money that the government sees itself in slamming to spend. It' 314 00:19:33,799 --> 00:19:38,599 s the money the state expects to have to be able to spend in the 315 00:19:38,640 --> 00:19:41,400 period they' re making the budget. I mean, it means I have 316 00:19:41,400 --> 00:19:44,000 it, but they expect to have it, because within the budget they say 317 00:19:44,000 --> 00:19:45,839 good. We' re planning on taking a loan with a guy, taking 318 00:19:45,960 --> 00:19:48,279 a loan with a guy like that, and we' re going to get 319 00:19:48,279 --> 00:19:52,000 so much money from tax. So that in total is going to give us 320 00:19:52,079 --> 00:19:53,599 five million million pesos and with that we are going to be able to do 321 00:19:53,640 --> 00:19:56,559 such and such and such and such. I mean, it doesn' t 322 00:19:56,640 --> 00:19:59,359 mean they have the money, but they say good. We hope that by 323 00:19:59,359 --> 00:20:02,079 the two thousand twenty- four other we will have this amount of money available 324 00:20:02,119 --> 00:20:04,519 and that will allow us exactly. I know that in my house 100%. 325 00:20:06,079 --> 00:20:08,880 If I budget an expectation of budget. I make a budget every year 326 00:20:08,880 --> 00:20:11,680 and he gives to me he owes me so much, he owes me so 327 00:20:11,759 --> 00:20:15,480 much, he owes me his tanejo. And if and if Fulano pays me, 328 00:20:15,519 --> 00:20:18,079 he pays me, he seems to let me go to travel with the 329 00:20:18,160 --> 00:20:19,920 credit card and it' s six months. Neither of the three pays me 330 00:20:21,160 --> 00:20:23,759 exactly and I cross and make the state. There the state doesn' t 331 00:20:23,839 --> 00:20:30,039 go and borrow a loan and finance with a platamo and I do it already 332 00:20:30,160 --> 00:20:33,480 and I do it to solve the ship' s card of belief If it 333 00:20:33,559 --> 00:20:36,599 doesn' t compete, I hang a true example very involved. Yeah, 334 00:20:36,720 --> 00:20:40,039 yeah, yeah, yeah, complicated. I use another system or I save 335 00:20:40,079 --> 00:20:44,119 later I travel I have used you another system. I' ve got him 336 00:20:44,200 --> 00:20:47,039 which my wife has to be the same, which is what you' re 337 00:20:47,039 --> 00:20:49,519 organizing so you don' t get into debt. And Yam is a vaitation, 338 00:20:49,559 --> 00:20:55,000 a problem does that, but that too you basically have a company and 339 00:20:55,079 --> 00:20:57,000 armed you. If you don' t carry is a company, you know 340 00:20:57,039 --> 00:21:00,279 what the problem is or you don' t handle blan rador and all you 341 00:21:00,359 --> 00:21:06,200 know that the problem that you have kndos deals lobono before the profit comes, 342 00:21:06,240 --> 00:21:10,480 before you get the company' s performance, because for one you get a 343 00:21:10,559 --> 00:21:14,960 few smokes on the weekends with how much you haven' t earned. It 344 00:21:15,000 --> 00:21:17,400 ' s true. That' s bonus. That sheath that if the one 345 00:21:17,480 --> 00:21:19,680 I don' t get two thousand pesos is a rat. The luis arrived 346 00:21:21,119 --> 00:21:25,680 and there is not two thousand pess a good ratrero the Luis. That' 347 00:21:25,759 --> 00:21:29,240 s bad management of personal finances. There' s totally a jaraca video. 348 00:21:29,359 --> 00:21:32,039 I think about two thousand nineteen says a hundred a year I don' t 349 00:21:32,160 --> 00:21:33,640 buy a tower, calls water kill, I don' t turn around, 350 00:21:33,640 --> 00:21:36,480 they' ll let me. It didn' t come the year and pulled 351 00:21:36,480 --> 00:21:37,480 shoulder. The tower, the tower that' s there on the Sarasota with 352 00:21:37,599 --> 00:21:42,119 Horrible Wington Churs and it was McDonald' s side. Terrible. Well let 353 00:21:42,160 --> 00:21:45,240 ' s put it on to have big dreams version. He had it, 354 00:21:45,480 --> 00:21:48,160 uh he had the, no, he had the desire. The desire did, 355 00:21:48,359 --> 00:21:52,599 because the vision took a plan for that to be fulfilled. They' 356 00:21:52,640 --> 00:21:55,359 re not that either. That' s like wanting to hit him a hundred 357 00:21:55,359 --> 00:21:56,480 percent. In the end, I know that you mention aberto of your first 358 00:21:56,519 --> 00:21:59,559 rar and then doing it would be the ideal thing. I mean, in 359 00:21:59,599 --> 00:22:03,119 the end you should have the same thing to get in the mess and not 360 00:22:03,240 --> 00:22:06,759 the best thing to go on the road making free. Thank you. We 361 00:22:06,799 --> 00:22:11,359 ' re talking to him that there' s just that you get curled up 362 00:22:11,400 --> 00:22:12,000 look at what a bank does. When they say they' re arresting you, 363 00:22:12,160 --> 00:22:15,680 they won' t lend you. They determine if in the future you 364 00:22:15,759 --> 00:22:18,839 ' re going to have enough money to be able to pay him the loan 365 00:22:18,839 --> 00:22:19,480 they' re making. So, deep down, the bank' s loan 366 00:22:19,480 --> 00:22:22,160 is like an advance on the money they understand you' re going to receive 367 00:22:22,200 --> 00:22:26,319 in the future. That' s why, the more money you have frogs 368 00:22:26,319 --> 00:22:30,039 that bank, mate lend yes, exactly yes, they also need to lend 369 00:22:30,279 --> 00:22:32,359 it, because those rooms owe it. I' ll get it from them. 370 00:22:32,720 --> 00:22:36,279 Eh is as it is, as it is as they look forward and 371 00:22:36,359 --> 00:22:40,440 say good. It is likely that an exact flow Alberto will probably have from 372 00:22:40,480 --> 00:22:42,599 here in thirty years. He' s going to have six million pesos, 373 00:22:42,759 --> 00:22:45,480 so it makes sense that I lost him a hundred million pesos. For example, 374 00:22:45,519 --> 00:22:47,680 it' s a house for thirty years and they lend it to you. 375 00:22:48,440 --> 00:22:52,640 There' s something that has to do with the issue of personal finance, 376 00:22:52,839 --> 00:22:56,400 which strikes me, and you and you just mentioned it in part, 377 00:22:56,960 --> 00:23:00,440 that is, and you' ve seen it a lot now, because here 378 00:23:02,079 --> 00:23:07,960 we have companies operating that from Dominican Republic and it' s financing the one 379 00:23:07,359 --> 00:23:11,599 who has the possibility to make money but has no credit. Yes, yes, 380 00:23:11,880 --> 00:23:17,799 that and that leaves huge profits from Echados Unidos, in fact, entrepreneurs 381 00:23:17,839 --> 00:23:22,599 who are hearing tremendous bargain business in gringo flat, in fact, in the 382 00:23:22,599 --> 00:23:26,160 United States. That' s a business that' s the business that' 383 00:23:26,359 --> 00:23:29,200 s breaking the money that' s moving. That because credit has become everything 384 00:23:29,279 --> 00:23:32,519 in countries like the United States, in many countries of Europe and the Dominican 385 00:23:32,559 --> 00:23:37,559 Republic it is becoming equally a vital issue, that credit score that of your 386 00:23:37,799 --> 00:23:42,720 behavior, that you have with your finances and financial products and all the pods 387 00:23:42,759 --> 00:23:48,759 that look at each other. But there are people who simply have no credit 388 00:23:48,039 --> 00:23:52,319 because they are not or are old enough, but they produce a lot of 389 00:23:52,319 --> 00:23:56,160 money. Or there are people who have had a bad administration, already recovered 390 00:23:56,160 --> 00:24:00,039 from that, but still does not generate confidence. Country lends a lot in 391 00:24:00,119 --> 00:24:03,279 the field, especially that which is in the field, that which is in 392 00:24:03,319 --> 00:24:06,839 the field and is dedicated to the field, because it usually handles a lot 393 00:24:06,839 --> 00:24:10,200 of money. But maybe he doesn' t have that education of being vacated 394 00:24:10,319 --> 00:24:11,839 and having a credit suit and going on credit, because then it makes it 395 00:24:11,839 --> 00:24:15,039 difficult for him. You' ll have access to loans. There' s 396 00:24:15,640 --> 00:24:18,000 a Dominican who doesn' t remember the name and it hurts me not to 397 00:24:18,039 --> 00:24:19,839 remember the name he' s doing just that in the United States. He 398 00:24:19,880 --> 00:24:23,279 has a company. He' s doing extremely well. Extremely well, that 399 00:24:23,319 --> 00:24:27,200 is, in fact, I think these days it has started to sell the 400 00:24:27,279 --> 00:24:30,799 company for millions of dollars, that is, in case of Dominican success here 401 00:24:30,839 --> 00:24:34,400 from Dominican Republic. The boy' s what he does is look. He 402 00:24:34,519 --> 00:24:37,759 realized that the people who make uber, who make those kind of applications do 403 00:24:37,839 --> 00:24:42,559 like taxi tax, but half casual they drove a lot of money but they 404 00:24:44,279 --> 00:24:47,160 didn' t usually have access to credit. So, that' s what 405 00:24:47,240 --> 00:24:49,200 he said. Well, if these people handle daily money and generate daily money, 406 00:24:49,920 --> 00:24:52,920 that is, or produce daily money, I can make them credits, 407 00:24:53,480 --> 00:24:57,200 even if they are small loans of money that I understand that they can be 408 00:24:57,279 --> 00:25:00,359 earned and I know that they will pay me, because they are gerando and 409 00:25:00,400 --> 00:25:03,400 they are dedicated to uber and that much chordido. Excellent, excellent, excellent, 410 00:25:03,839 --> 00:25:06,880 because in the end it' s that, I mean, if I 411 00:25:06,920 --> 00:25:07,799 ' m organized, it' s organized and he and he came to that 412 00:25:07,799 --> 00:25:11,200 conclusion. And there' s a great opportunity to do that here in the 413 00:25:11,200 --> 00:25:12,279 Dominican Republic. So, if someone is listening and has a chance to do 414 00:25:12,519 --> 00:25:15,400 what I love you, what we' re talking about, it' s 415 00:25:15,519 --> 00:25:18,519 not if you burn butter. Nothing to see? Nothing to see? Nothing 416 00:25:18,640 --> 00:25:23,039 to see? Nothing to see are formal business in America. Of course I 417 00:25:23,240 --> 00:25:26,759 know and I have read that for you because of the risk it represents, 418 00:25:27,319 --> 00:25:30,559 let' s say I lend you a thousand dollars and I tell you you 419 00:25:30,559 --> 00:25:32,960 have to pay a thousand five hundred. The time that he will receive two 420 00:25:32,960 --> 00:25:34,599 thousand five hundred, says well, in the time that I will pay him, 421 00:25:34,839 --> 00:25:37,839 I will make four thousand five hundred. With that thousand dollars, I 422 00:25:37,839 --> 00:25:41,240 mean, I' m paying the five hundred he charges me what he lent 423 00:25:41,319 --> 00:25:45,000 me and I' m earning two thousand five hundred dollars or four thousand dollars. 424 00:25:45,599 --> 00:25:47,240 It' s worth it. One hundred percent, one hundred percent. 425 00:25:47,279 --> 00:25:49,160 There was and was running to work with the money of another exact. Here 426 00:25:49,200 --> 00:25:53,039 was once that I don' t know if they still have it. Something 427 00:25:55,240 --> 00:25:59,839 looks like the banks when they saw that you had a lot of finger either 428 00:26:00,119 --> 00:26:03,759 me or strong to make you a project, a consolidation, those debt obligations 429 00:26:03,799 --> 00:26:07,039 and they all paid you off you recommend, that one hundred percent. In 430 00:26:07,079 --> 00:26:10,200 the end, if you have many debts, imagine that you owe for a 431 00:26:10,200 --> 00:26:15,160 credit card. On the other hand, you may owe an exact loan, 432 00:26:15,240 --> 00:26:18,240 a personal loan. Or maybe and also adn over, that has a loan 433 00:26:18,279 --> 00:26:21,000 with a lender that you took one day to resolve a matter and altogether you 434 00:26:21,079 --> 00:26:25,039 come paying. Imagine that in total you owe the money you borrowed that you 435 00:26:25,079 --> 00:26:27,200 received was 1, 500 pesos, but this has fifty percent interest bonds. 436 00:26:29,319 --> 00:26:30,279 Then the bank. What it tells you, is, is that you' 437 00:26:30,279 --> 00:26:33,519 re paying half of what you borrow every year, that is, maybe the 438 00:26:33,559 --> 00:26:37,720 bank wants it crazy. What he tells you is look. I' m 439 00:26:37,720 --> 00:26:41,759 going to lend you enough money for you to pay off all your debts and 440 00:26:41,799 --> 00:26:41,839 make me money that I' m going to lend you. I' m 441 00:26:41,880 --> 00:26:45,920 gonna give it to you at ten percent or eight percent. Then you still 442 00:26:45,960 --> 00:26:49,160 owe the same, but the interest you pay is much lower. They standardize 443 00:26:49,200 --> 00:26:52,240 it in a cube, adapt it to your ability to pay more or less 444 00:26:52,279 --> 00:26:56,440 so that every month you can pay. And you' re starting to look 445 00:26:56,559 --> 00:27:00,319 like everybody' s going down. Opposition is clear to you and stress is 446 00:27:00,400 --> 00:27:03,440 screwing with you. It' s over. We then end with this question 447 00:27:03,559 --> 00:27:07,799 which I find interesting. Says my brother has a million pesos and wants to 448 00:27:07,880 --> 00:27:12,920 put it on a fixed term. He says how much they give him on 449 00:27:12,960 --> 00:27:19,319 a commercial handle or I would create the question for him a sum of that 450 00:27:19,319 --> 00:27:26,920 kind. Where it is best to invest a commercial bank, a cooperative, 451 00:27:27,960 --> 00:27:34,519 a mutualist association. What the expert recommends asks him I always recommend to people 452 00:27:34,559 --> 00:27:40,200 the following, which is sounds a little more complicated than opening a certificate in 453 00:27:40,279 --> 00:27:42,960 the bank, because the bank wants to open certificates, but it is more 454 00:27:44,039 --> 00:27:45,920 convenient for you and after you do it the first time it makes it easier 455 00:27:47,000 --> 00:27:51,039 for you to go forward you see the bank. If you' re related 456 00:27:51,119 --> 00:27:53,200 to some of the main banks, the top three, the one that' 457 00:27:53,359 --> 00:27:56,039 s white, the green and the blue. You can go to one of 458 00:27:56,039 --> 00:28:00,640 those three banks and you say look I want to open an account in an 459 00:28:00,720 --> 00:28:03,960 investment fund. Then I took a service ticket. You sit down and you 460 00:28:03,039 --> 00:28:06,000 want an account in an investment fund, they will put it already in a 461 00:28:06,039 --> 00:28:08,079 form that is very similar to the form that they put you to fill out 462 00:28:08,079 --> 00:28:11,319 when you want to open a bank account for the first time that they will 463 00:28:11,440 --> 00:28:12,799 ask you how many you earn where you work. Ask him for a work 464 00:28:12,839 --> 00:28:18,440 letter again. It is practically the same procedure after you have that account open, 465 00:28:18,799 --> 00:28:22,319 especially if it is an important liquidity investment fund, licaliberia investment fund that 466 00:28:22,359 --> 00:28:26,079 has the peculiarity that you can put in and take out money every day, 467 00:28:26,240 --> 00:28:30,519 and that is generating a return on those funds. Today you are leaving ten 468 00:28:30,599 --> 00:28:33,000 percent, nine percent, eleven percent, which is more what you like going 469 00:28:33,039 --> 00:28:36,759 to get probably on a bank certificate and you are going to be able to 470 00:28:36,799 --> 00:28:38,799 be cassero every day and you are going to put in trardinando every day. 471 00:28:40,160 --> 00:28:45,200 So that money that you' re thinking of investing passes that little struggle of 472 00:28:45,240 --> 00:28:48,079 filling out form in the mida bank that will open your account in the liquidity 473 00:28:48,119 --> 00:28:51,799 investment fund. Pour it in there. You' re going to have your 474 00:28:51,920 --> 00:28:53,200 money available every day, not as a certificate that maybe you have to last 475 00:28:53,240 --> 00:28:56,039 a year to have looks like a year and the profitability you' re going 476 00:28:56,079 --> 00:28:59,839 to get is going to be much higher. That' s my recommendation you 477 00:28:59,880 --> 00:29:02,200 ' re looking for a liquidity investment fund. It' s one of the 478 00:29:02,240 --> 00:29:04,160 three main banks. The three of them have the target bank. I don 479 00:29:04,279 --> 00:29:07,680 ' t think they' ve ventured yet, but I know that green and 480 00:29:07,680 --> 00:29:10,319 blue guys have it liquidity investment fund, you' re going to be feeling 481 00:29:10,400 --> 00:29:12,839 service comitique. It opens it up and that will solve your life, because 482 00:29:12,880 --> 00:29:15,960 from there all the money that you want to invest above that million pesos or 483 00:29:17,000 --> 00:29:18,400 below that million pesos, you will be able to do directly through that fund 484 00:29:18,480 --> 00:29:22,000 and will leave you a better return than you can leave any type of certifier 485 00:29:22,039 --> 00:29:27,519 and why it is the comparatives and mutualists. No. What happens with those 486 00:29:27,680 --> 00:29:32,880 kind of institutions is that they' re not. I mean, when you 487 00:29:33,240 --> 00:29:34,680 were told at first how you lent him a bank. When you speak a 488 00:29:34,720 --> 00:29:38,200 certificate, you become a bank lender. When you become a customer of a 489 00:29:38,279 --> 00:29:44,000 cooperative, you become a cooperativeist, who is a shareholder in quotation marks. 490 00:29:44,519 --> 00:29:47,960 So if the cooperative has the wrong order of priorities that we said at the 491 00:29:48,039 --> 00:29:51,720 beginning of the first time your money appears, it is at greater risk than 492 00:29:51,839 --> 00:29:56,079 if it had it without a money with the ok things or s communist page, 493 00:29:56,440 --> 00:29:59,960 where here, all of us, if we win, we win everything 494 00:30:00,000 --> 00:30:03,000 and you are lost as a lost brigade, it may be that it offers 495 00:30:03,039 --> 00:30:03,759 better rates, because it is more risky. Hey, they cost that risk 496 00:30:03,839 --> 00:30:07,480 concept later. You see it all like that you and you are giving me 497 00:30:07,480 --> 00:30:10,920 more as to why it will be safe. Here' s a maco or 498 00:30:11,000 --> 00:30:14,000 the risk is greater than the other option you' re offering me. Well, 499 00:30:14,079 --> 00:30:18,519 thanks to Luis Serrano, I think today' s little class won' 500 00:30:18,839 --> 00:30:21,319 t kick me out. He also likes it around here if not, and 501 00:30:21,359 --> 00:30:23,839 what they asked you about sprouting around here in the investment fund exceeds alpha that 502 00:30:23,920 --> 00:30:26,400 if they go to the inverted movie there, yes, 100 percent. One 503 00:30:26,440 --> 00:30:30,799 hundred percent. As I say, I recommend the liquidity investment fund because it 504 00:30:32,000 --> 00:30:33,039 is the easiest to open. After you open it, you come in and 505 00:30:33,079 --> 00:30:36,319 take out money every day. It' s like having a savings account. 506 00:30:36,359 --> 00:30:40,839 In fact, in the bank, in the one of the two banks, 507 00:30:41,160 --> 00:30:42,279 in Blue and Green. I think you both have that chance. You can 508 00:30:42,319 --> 00:30:45,720 see even the money you have in that fund. It' s the same 509 00:30:45,720 --> 00:30:48,279 app where you see the money you have in your bank account. You know 510 00:30:48,359 --> 00:30:51,200 how to have one more account. The only difference is that you can' 511 00:30:51,279 --> 00:30:52,920 t make transfers directly. You have to transfer the fund to your account and 512 00:30:53,000 --> 00:30:56,920 from your account to don you want to enter and that has been sang every 513 00:30:56,960 --> 00:31:00,200 day and the profitability is much higher. I think it gives you any good 514 00:31:00,599 --> 00:31:02,680 tri, because it' s there. I think if you' re opening 515 00:31:02,720 --> 00:31:07,119 your eyes, this is a pay that pays attention to my friend Carlos Daniel 516 00:31:07,680 --> 00:31:11,279 so you' re the scoundrel, because I have so many danieles here. 517 00:31:11,920 --> 00:31:15,240 Don' t make the mistake again. Uh, with a hundred thousand steps 518 00:31:15,279 --> 00:31:18,880 of verification at César Daniel Dani with a hundred thousand pesos. If you can 519 00:31:18,920 --> 00:31:22,720 buy like a thousand shares, actually quite a lot of stock. One hundred 520 00:31:22,759 --> 00:31:26,119 thousand pesos of shares. It' s a thousand shares. They' re 521 00:31:26,440 --> 00:31:30,880 one hundred and fifty, I think I saw him initially when he opened the 522 00:31:30,079 --> 00:31:33,039 operation, which came out in the bag that CoA what caught one hundred and 523 00:31:33,039 --> 00:31:36,799 twenty- three. Today they were about one hundred and fifty- three hundred 524 00:31:36,799 --> 00:31:38,759 and fifty- four is like a seventeen percent revaluation. They announced they' 525 00:31:38,839 --> 00:31:41,559 re going to pay dividends or they' re going to give you money, 526 00:31:41,640 --> 00:31:42,880 they' re going to put money in your pocket. They haven' t 527 00:31:42,920 --> 00:31:45,039 paid for it yet. Then it' s time. Still shopping. If 528 00:31:45,119 --> 00:31:48,759 I had sixty thousand pesos in shares of the hundred thousand pesos of pite, 529 00:31:48,960 --> 00:31:53,319 I have a thousand shares and they are going to divide then more or less, 530 00:31:53,559 --> 00:31:56,440 as how much peter must aspire to receive. That' s why a 531 00:31:56,519 --> 00:31:57,920 hundred thousand are going to give you about six pesos for each action. If 532 00:31:59,000 --> 00:32:01,119 you put a hundred thousand pesos, it' s a thousand lessons like six 533 00:32:01,720 --> 00:32:07,680 six thousand pesos, eh or, but is it because I am or are 534 00:32:07,759 --> 00:32:08,759 they made English and think of the following? Think of the following? Technically? 535 00:32:09,759 --> 00:32:14,240 Technically? Technically? You might as well not have paid yet. They 536 00:32:14,279 --> 00:32:15,839 ' ve announced they' re going to pay, but they haven' t 537 00:32:15,839 --> 00:32:17,960 paid. I still live it. You could buy shares, wait for them 538 00:32:19,079 --> 00:32:22,599 to pay. When they have to, receiving that money is preselling them and 539 00:32:22,680 --> 00:32:25,160 you' re inverted. I' m uniting something else like payati for free, 540 00:32:25,400 --> 00:32:30,200 something or like free shareholder. There is no authority and no owner of 541 00:32:30,240 --> 00:32:34,599 the shareholder company. Yes, because there is a difference between shareholder and owner 542 00:32:34,599 --> 00:32:39,440 of the company, because the owner of the company takes all the decisions in 543 00:32:39,519 --> 00:32:44,559 the Zionist has to go to you both a group of agreeable people. In 544 00:32:44,640 --> 00:32:46,000 this case I don' t know a public company. As these things are 545 00:32:46,079 --> 00:32:50,519 decided, they held an assembly these days. It was a lot of people. 546 00:32:50,559 --> 00:32:52,079 In fact, it was at the Dominican Law Hotel. It is similar 547 00:32:52,319 --> 00:32:54,599 to that of countries like the United States, where there is what is called. 548 00:32:54,759 --> 00:32:59,920 I don' t know what fiduciary sheath, that is, that you 549 00:33:00,960 --> 00:33:06,319 have an obligation to make decisions on behalf of everyone who has invested, who 550 00:33:06,359 --> 00:33:08,240 benefits their pocket. And that was discussed a lot with the case of the 551 00:33:08,319 --> 00:33:15,359 sale of Twitter, that the board refused to listen to the offer that this 552 00:33:15,440 --> 00:33:19,119 man was making, but the law forced them because he was paying more of 553 00:33:19,200 --> 00:33:22,480 the recordings was worth in the market. Personally I don' t know, 554 00:33:22,599 --> 00:33:25,079 but I understand that in case there was something like that, the superintendency could 555 00:33:25,079 --> 00:33:29,599 get into gas. Yeah, but I mean exactly that' s the law 556 00:33:29,720 --> 00:33:30,839 there. Yes, of course, she' s a strong one, she 557 00:33:30,839 --> 00:33:32,079 ' s good and she' s good for all the Asionists. Here we 558 00:33:32,119 --> 00:33:38,920 have a superintendence that I know that it does monitor as the different investment options 559 00:33:38,920 --> 00:33:42,680 that are in the market and are dedicated do it very well. In fact, 560 00:33:42,720 --> 00:33:44,359 I mean, it' s way above what' s being done to 561 00:33:44,359 --> 00:33:47,160 different companies. And yes, I definitely understand that the one who wants to 562 00:33:47,200 --> 00:33:50,920 venture into investing in the Dominican stock market is backed by the supercule. When 563 00:33:51,000 --> 00:33:54,200 you get the appointment to these problems, no, well, you don' 564 00:33:54,200 --> 00:33:55,680 t let it come this way. Yeah, yeah, yeah. Thanks to 565 00:33:55,759 --> 00:34:01,440 Luis Serrano. If you missed some of this conversation about economy, finance, 566 00:34:01,480 --> 00:34:05,200 etcetera, investment you can look it up on YouTube. So, Luis, 567 00:34:05,519 --> 00:34:09,000 we wish you success. Thank you. We know that you are taking other 568 00:34:09,000 --> 00:34:13,480 paths now in the professional area and we wish you and augur a lot of 569 00:34:13,480 --> 00:34:14,880 success. You' re the one.