Is Jamaica's Richest Man Going Broke? Kalilah 'The Money Genna' Reynolds Answers || The Fix Podcast
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- čas přidán 24. 07. 2023
- In this podcast clip, financial educator and analyzer Kalilah Reynolds talks the recent goings on with Michael Lee Chin and the massive shakeups at NCB
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Lee Chin going broke and our broke are two different broke 😂😂😂😂
Fi real mi G
Very very different! 😅
still broke
@@africangaad5379 🤦🏽♂️ Not the same.
@@jayecks1they just as broke as we. Only difference is they control the media and are able to throw out bogus numbers at us. If you match these people expenses you’ll see they just as broke as us. They out here shopping with other people money just like how we out here using credit cards. Credit makes everybody look rich😂😂😂😂.
Financial literacy is one of the most important skills you can have. Please keep on pushing out these insights.
Your guest is very knowledgeable. And the female questioner knows how to ask the right questions.
Kudos!!!!❤❤❤
One correction.. Networth [ Everything you own minus Everything you owe]
Not impressed with you correctlon.Professor of finance,your country is riddled with Skullduggery and this person is involved in it as are others.Italy is a highly known for Skullduggery too
Good show. Please invite the UIC leader to talk about inflation and the Jamaican economy.
Love the discussion
Love how you break down things;would love to join your podcast;Brooklyn in the house
If you all think Lee-Chin is Jamaica's richest man, you living in dreamland.
One of the best interview this year
Sit and worry about people and their money , never like that , honestly , work and mind your business .
Thanks for sharing, I learned a lot from this interview. New to your channel stay connected God bless 🙏
Thanks for the info.
I love this lady Essi …
Boy I've learnt alot just from this interview
same
Glad you did 😊
This Lady is phenomenal
The perfect time to buy!!
There is back pay in Dividends if you have a specific type of preferred Share.
more interviews like these...well done
🇧🇿🇧🇿Big up Kahlila💎
Good time to buy into NCB!
America a work pon Dem uncle Sam
Mr Lee Chin doesn't make moves unless there is a a really good opportunity to do so, i think he has something up his sleeve which we will see in the coming years. I will not be surprised if NCB become Jamaicas leading bank under his strict management.
As long as NCB (the government's bank) continue to have two tellers per location, him will all right
People buy into company's that pay Dividend and OPT OUT if not being Paid..
Lol. I dont think Michael lee chin is going broke, I think he's just cutting cost and regaining a first hand control of his group of companies operations.
True
By having less share?
He knows exactly what he's doing
Lee chin is smart own many properties and other businesses in other countries like how butch Stewart did he just want to get rid of alot and keep what he can be in control of
So stock lose 70% ov value, they collect $13mill in bonus and don’t pay dividends? MLC didn’t pull a salary and his income drop by $30mill cash. Of course he has to restructure to get his cash back.
Interesting
Would like to know why were NCB branches like Black River closed?
On that note of closure of banks...Why were branches of Scotia like in Black River closed?
BOJ had to do with these too?...These were basically back to back closures
Forthy min on time 😅😂❤🎉
winter is coming that's why he's selling his assest all investors/entrepreneurs do that from time to time
I think you all are taking companies not paying dividends rather lightly
All I can see here is a buying opportunity for long term investors. Why would u want to buy and 210 and now it’s at 65. I would grab as many shares as possible because as soon as the money pipe turns on, trust me people will get fomo
It wasnt about paying dividend its following the American play book doing bail ins because government didn't do bail outs so most companies including ncb borrowed money from within
Should have been arrested for assault after throwing the drink in the woman's face. Jail for 1 week with a date. Visa confiscated, and cant leave the country until after court date.
She couldn't do that in America
If he owns assets and those assets are financed and the interest rate are moving up the cost of financing could be a reason why he has sold the assets.
COVID hurt nuff millionaire it’s so easy for things go left in financial world because you not really wealthy
Peace to this house. You must be born again ! 😂😢😮😅😊❤❤❤❤❤❤
They have to put the company first
Finally someone explain liquid cash vs actual assets persons always get this confused, the likes of Jeff Bezzos , Elon, Zuck dont have billions in liquid people we should be getting this concept by now its 2023 lol. As for Lee chin selling his Yacht the man hasnt been getting paid for the last few years from NCB probably his main income source if not top 3 of his sources, you know how expensive it is to maintain yacht and other things that needs maintaining with 0 or little cash flow.
I just have one question.. how did you get the biggest mention in your careers and never reviewed it.
Kartel & chronic law_ can't kill we.
Kartel says, "mi fix her like the nightly." How???? How ???
Di 2 CEO time up😂😂😂a suh wen dem done wid yu dem dash yu wey
The Man a Build a Nuclear Power plant in Canada. That takes a whole heeeep a money. So he has to move assets to get it going.
Further more that's where he started BUILDING his EVERYTHING...I'VE met him one and one in a non BUSINESS occasion and find HIM to be REAL a successful (definition of succes not begging) PORTLANDER like myself..
@@gervanmyers3066i use to live in portland,portland is a slow parish meaning in business wise not fast enough to earn much income to sustain thy self..but over their kool and peaceful 1 and 2 individual conflict at times but its a ok parish.
That Title 🤔
The love of money is the root of all evil do good good will follow you
Isn't their an issue with holding back people's dividends? That's the reason why they invested in the first place?
No company or no banks ?
Guys your are both talking over each other. Interesting topic but please be mindful not to drown each other.
The female questioner is conversant on the topic, but the male questioner...he does not have the depth needed for the subject...at least to me!
Net worth: Value of assets - DEBT
MICHAEL Lee Chin liquidating Liability just like the Prime Minister of Canada...Jamaica leader got COLD FEET..
Why do Jamaicans pronounce the word ask, as ax?
Bolt money 💵 has to be paid back ASAP
The world is changing he dont need that cash hold on give it a year and less
He sold his yacht for over$350m recently, he's fine
He did fraud to achieve all his fortu
@@MarjorieWong-ym3ft every body knows
@@MarjorieWong-ym3ftcan you exegesis on that
@@legacyboss6512 2003 AIC was find over us 50 mil for insider trading 💹 AIC 2002 took control Of 60% NCB stock for us 10 mil
You guys just bad mine others who are doing better financially than you are, the only people you guys rate are, recording artist and track and field people, according to you guys "got" there money the right way,only because they come from garrisons.
5:52 lady in the middle just dismissed dude and inserts herself
That's why nobody should waste money at all
Sounds like missa chin a get bad up! Oblva him ownna timgz!!
Matalon is the richest Jamaican
The name..but no face has been seen lately..plus that's OLD MONEY like DUHANEY PARK and PORTMORE
@TheFixJA Just want to correct you that Mr Chin didn't institue or put in the new people in NCB. That was a board decision and not just him alone.
Michael Lee Chin liquidating his assets because he may believe we are at the top of the economic cycle and has to liquidate some stuff while he still has a buyer for them at good prices (especially luxury items that has a small pool of buyers). Some of his positions (especially stocks and concentrated real estate), he has to be strategic about liquidating. He can't do it all at once because he can drive the price significantly down before he's able to sell any good portion. Liquidation for whales people with whale posistions in their portfolio takes time. For companies that he's on the board of, he cannot liquidate on or before events (things he learn about the company before other people that may affect the price of the stock). So he may have wanted to sell long ago but if he didn't schedule it before the event then he has to hold it till after the event and if events keep coming up...
So the correct question may not be whether he's going broke but whether he sees a downturn, how soon, what's he doing with the cash he raises.
Interest rates are high due to Feds increasing I'm NCB is feeling the pinch. Assets - liabilities equal network,. You fail to mention debts.
From the comment I can see you are the only other person who understands what really going on. The interest rates gonna cause a financial storm that the world hasn't seen in a while
If this man is selling a piece or some of his assets, it doesn't mean he is going broke or nearly ..... this man has bank accounts in places we can't even pronounce 😅
???? Who has been selling ncb shares since its share prices were high?? Check aic barbados record to see how he has sold billions in shares which are now worthless on that connected entitys balance sheet... thats why he has been selling to prop up those bs
# Don't get DiStRaCtEd by these hypocritical diCtOriAL scamming approaches by these disetful individuals ... !
A Jamaica mhan Jamaica suck eeenn yuh money suh fast yuh daaven Memba yuh did have !!
PONZI scheme lee chin was running like Bernie madoff 🤣
Smartest woman in Jamaica
Lol Lisa Anna no smart?? haha mine a dah accent mek ya skin catch a fire enuh lol............
@@86keno what has Lisa Hanna done that can match this girl? Married a rich man? And post pretty pics pon social?
Yanique page, Miss kitty, odetta Rockahead-kerr and many more.
@@jamaicanprincess4124 why yuh don’t add Mackerel and The one name bully beef?
@@lawrencegrey7401 You clearly don't know anything about the majority the successful educated women in Jamaica.
Broken trust
So jamaicas richest man is a full time canadian resident
Citizen...Nothing nuh WRONG..if him was your BIG TIME POLITIANS then that "SHOULD" ?? be a problem
@@gervanmyers3066 he's not jamaica's richest he dont even live here he belong to canada
@@hughporter2541 You said it..😐
Too many bills besides your name and your working you will never get rich the same if you are a billionaire with bills against your name you will eventually go broke rule one in money management
WAH KINDA TITLE DIS BREDDA???
Asset rich cash poor.
NARDO - REAL ESTATE THAT DONT GIVE YOU CASH FLOW IS NOT AN ASSET
A YACHT THAT IS THE SRME THING IF ITS NOT GIVING U INCOME ...
SO HE IS RIGHT IN SELLING LIABILITIES
I was wondering when did real estate and a yatch became an asset. They be just telling us whatever come to their mouth like we retarded or something.
Real estate dont. SPOIL either..
@@gervanmyers3066 only real things does spoil. Real estate just like the yatch breaks down. And you have to put a ton of money back into these things to maintain them. This the part that they leave out, they only talk profits which is a false reality that the public drools over.
@@ssliburd1 Correct. Depending on when people buy the house, sometimes the amount of money people spend to maintain it them don't even break even when them sell. Unless them keep it for like 20 years before them sell. The real estate agents have been selling the public fairy tales during the low interest rate induced pandemic boom. People dont understand real estate and economic cycles. There is always a bust after a boom. And many of the people who put them hat where they cant reach it gonna start feeling the pain soon. Its starting here already in Canada. And Canada is a rich country. Dont know what going happen when it reach Ja.
@@sugadre123 👍🏾true that. People can’t stomach they have been lied too. A lot of these people gone be under suicide watch.
No He Is not but conserving for his Generation.and is battining down❤❤❤❤❤❤❤his zinc roof
Dirty money 💵
Lewis is ths real richest man in jamaica
Di man jus buy a rass yatch
Defenition of Broke
Some people cannot count properly at all, they does not know their times tables. Without the calculator they cannot make a change at all, that is why a lot of companies files bankruptcy. Because of poor accounting skills,ok.
Broke? Or is he hiding assets?
He declared bankruptcy that's why cant meet his debt obligations
Bankruptcy really
He is crook
What did he crook you..don't repeat what others SAY..
He is so call very rich and cash poor is his riches US dollars billions or is it Canadian or is it jamaican billions any body knows
Jesus is coming soon
They got 300 mil from the jff stop spreading false news
Why are you wearing plastic rain boots on tv. Army outfit going to war. Dont look on you.
I don’t live in 🇯🇲.The lady can wear whatever she likes. However, is it cold and rainy in Jamaica in July 2023?
How can a china man be the richest man in Jamaica 😂😂😂😂😂😂😂. Joke ting
hes Jamaican born and raise im black and have chinese blood cousins from st mary dont speak on Jamaica u know nothing about mi born a grow a yard plus mr chin is the richest carribbean national not only Jamaica hes thes riches in the entire carribbean then Rihanna then bolt Jamaica has the most millionaires and billionaires in the carribbean dispite its currency and economy
Everyone else always gets the riches from black people . Even in America in the black community Chinese , Arabs , Jews own all the business
If you should asked the majority of people how much money making a billion dollars, although some of them said. That the have all those degrees, they does not know at all. Because Jamaica just like some other countries in the world is following the United States, accounting system. Which is wrong, because everything they want to change it to their own way and other people is following them. I don't know where Forbes magazine learned to count, because they are giving people wrong information about how much money that they have and. Nothing does not go like that, because the figure that they are using,it is wrong. I been to school in 1962 started my elementary school and, from that time. I learned that one billion dollars is one times a million, which is thirteen figure. Twelve zeros and a one, not ten figure like what the United States is using, which they are using nine zeros and a one making ten figure. The United States trying to change the equation of mathematics in 1975/75 from changing equations of mathematics,in real maths one not a whole number which you can calculated with. The only two things you can used one to do, is subtract and add, but you cannot used it. To multiple and divide ➗ to get an answer.So I would like to know how those accountant workouts their maths, that is why. They are giving people wrong information, they called the United States billion short scale ⚖️ billion. In true facts, Micheal Lee Chen does not have a billion dollars in cash and values. He is being manipulated by Forbes magazine, because they does not know how much is a billion dollars. For a person to have a real billion dollars, they need to have one million times a million, because a thousand million is not a billion dollars. Let me see those people who is saying that, they are maths professors. Respond to my comment, anyway that is the way that they were thought in school.That kind of hypocrisy only came in 1974/75 by the United States, trying to change the dynamic of mathematics. Let me show Forbes magazine how a billion is written,1,000,000,000,000 this is the correct way. Not like the United States short scale ⚖️ billion is written this way which is wrong,1,000,000,000 this is not a billion dollars in real maths at all, and a trillion dollars is written this way,1,000,000,000,000,000,000 , not like what the United States is using 1,000,000,000,000, this is double wrong Forbes magazine.A millions is seven figure,1,000,000, everything does in tens,ok.