 So oil let's take a look at this oil market. We get Saudi Arabia. They're gonna basically go out to market They're not going out to our market. No, well, no, they're not then so you get oil up this morning 56 95 you get 271,000 contracts. Let's look at this. Yeah, so you got a Ramco going to Riyadh right the yeah index over there And you know just to keep it in context man. They were originally gonna pump out 5% of their equity in International markets, they're now gonna push out, you know, 3% in a foreign market, which much much less reporting standards Buyer beware extremely I wouldn't touch that thing and the the valuations I heard Goldman was saying they might be worth 2.2 2.3 trillion and then you had I forget what company might have been Bank of America But a legitimate big analyst saying maybe as low as 1.2 trillion. I mean this sounds like a we work type You know, it's like maybe it's worth 2.4 trillion and an analyst saying maybe it's worth 1.2. Well, then maybe it's worth 600 billion I don't know, you know, and why would you believe anything they push out when it's a state-owned Saudi Arabia oil? I mean, this is the same country to bring things to reality that just basically killed a US resident Yeah, you know, right. Oh, it's so buyer beware to say the least. Yeah, and you know I'm really surprised that they're doing it this quick after we work because it's like, okay You know the broken the other community the banking community they make a percentage of what is going to get pushed out Yes, of course, they're gonna try to justify as high as they can get. Yes. It's just amazing that to me that people would actually I Agree, so we'll see I agree. We'll see where it shakes out And at least some of the people might be protected because it's at least not on the NASDAQ not on the NYSE Whereas most people Won't be buying an equity that's trading over in the Riyad Exchange or what not but still and it's people are gonna get hurt if they buy it and they lose their money When you have a company like Goldman out there saying it's worth more than two trillion dollars and they're very biased by that recommendation Yeah, yeah, so we'll see where this oil market wants to go. That's kind of interesting actually I mean, it's like, you know what they pump in the little mock-up at the same time Yeah, oh totally, you know because you're over the swing point now. I mean that's saying 58 Well saying 58 19 is game. That's the bottom of the downdraft out here. That was Well, actually was an updraft the next day was the downdraft that was September 16 And that was the attack on those Saudi oil fields. That's right, of course. Come on. Look at that gap Come on, we weren't even searching for this story, but it's up there and it's interesting nonetheless, right? So they're pulling out all the stops to ensure success for the IPO after the Crown Prince finally decided to offer shares The kingdom cut taxes on the company for a third time revealed incentives for investors not to sell and it's considered boosting dividends further Yet the Saudi government's already conceded the company probably isn't worth the two trillion valuation They've long advocated while somebody should tell Goldman Sachs that as they're out there pushing two plus trillion And just to keep in mind again, you know, there's probably not a lot of investors I think we're plowing money into this even out there listening thankfully But when you have a state owned oil company, right? They can tweak everything in terms of they can shift so let's say the company's making Boku bucks All right, you invest in the company. They're just crushing it Well, the state oil the state decides to just tax the oil company greater right and they take all the profits from the company and Meanwhile, it's still state-owned So it's just kind of shifting it from one bucket to the next and all they're doing is taking the money from investors in the company To push it back to the state meanwhile the state owns the company the state gets the taxes So they're lowering all the taxes ahead of the IPO But then they could just raise them back up the moment that the IPO is pushed out to the public And if you want if depending on how long a shot your memory is hoax, okay, you can remember that the next paragraph there I went up go published a So-called intention to float on Sunday the most dramatic change to Saudi oil industry since the company was nationalized in the 1970s Yep, and that's when the kingdom took it over sure, you know, so the bottom line is that Then here's where so Saudi Arabia is aiming for a valuation of 1.6 to 1.8 trillion Goldman Sachs told investors it's worth 1.6 to 2.3. What would it? What is that? You know, I mean seriously Bank of America another top bank in the deal had a bottom range set at 1.2 BNP Paribas looked at 1.4 to The Bank of America is still another top bank in the deal and they're still saying 1.2 So be skeptical of even that You can see what's happening there, but they're employing 20 banks folks on its IPO So they're splitting they're trying to get every I'd say I got everybody in their pocket exactly So everybody's got a bias as they push this thing out. Yeah, and they got to figure out they got to get to a price that they can just Push so much out. Yeah If it's only 3% that's that I don't think that's gonna be hard for 20 banks to basically get clients, right? You know, but good luck in a year. So Where's that price gonna be right in there? So they had a naked income last year of 111 billion most profitable company of any corporation with an act Apple Google and Exxon combined, but the company's pledged to pay a minimum of 75 billion in dividends What happens in a downturn? What happens if they decide to say, you know what? We're gonna raise the taxes on that company to 85% on an annual basis because the state needs the money from the State-owned oil company and I'd question the aspect of them going public period I agree. Yeah, because of the fact that okay, if You're in a great business folks, okay, and you have plenty of money which they do. Yeah, why are you basically saying? Okay, now you can have some money public, right? That's just yeah, not how it goes and we can see, you know I mean there's there's alternates to oil right now and yeah, I'll turn it away Yeah little by little I mean most of the time you go public because you don't have the capital required to grow the business at the rate that you can grow it at Saudi Arabia I said a private company this is from 1970 talking about 50 years seems like they've had their infrastructure built out They're just selling it off because they think it might be great to diversify well Guess what? You don't diversify if you have the best company out there, right? You keep your shred you pull out you pull a Bezos or Bill Gates and you hold one company one share For the life of your life and you never sell it if you if you can avoid it. There's no doubt. Yeah