Podcasts about Xiu

Fluent Fiction - Mandarin Chinese: Against the Odds: A Gamble for a New Year's Fortune Find the full episode transcript, vocabulary words, and more:fluentfiction.com/zh/episode/2024-12-27-08-38-19-zh Story Transcript:Zh: 澳门的夜晚，赌场的灯光璀璨辉煌。En: The night in Aomen, the lights of the casinos are dazzling and brilliant.Zh: 每一个桌子上，都有人在紧张地下注。En: At every table, there are people nervously placing bets.Zh: 在一个角落里，梁坐在扑克牌桌前。En: In a corner, Liang sits in front of the card table.Zh: 他的手心冒汗，不仅因为输赢，更因为每一筹码都关乎家人的未来。En: His palms are sweaty, not only because of winning or losing, but because every chip concerns his family's future.Zh: 旁边是明和秀。En: Beside him are Ming and Xiu.Zh: 他们都是经验丰富的玩家，坦然面对牌桌的压力。En: They are both experienced players, calmly facing the pressure of the card table.Zh: 明笑意盈盈，秀则面无表情。En: Ming smiles broadly, while Xiu remains expressionless.Zh: 但梁的内心在翻腾。En: But inside, Liang is in turmoil.Zh: 他想着欠下的那笔巨额债务，这是他唯一的机会。En: He thinks about the huge debt he owes; this is his only chance.Zh: 冬季的冷风透过窗缝，提醒着梁新年的临近。En: The cold winter wind seeps through the window cracks, reminding Liang of the approaching New Year.Zh: 他心里默念，这是开始新生活的契机。En: He silently tells himself, this is an opportunity to start a new life.Zh: 比赛开始，梁小心翼翼，甚至有些保守。En: As the game begins, Liang proceeds cautiously, even somewhat conservatively.Zh: 但随着时间的推移，明和秀的气势如虹，梁的筹码慢慢减少。En: But as time passes, Ming and Xiu gain momentum, and Liang's chips gradually decrease.Zh: 到了关键时刻，梁面前没有多少筹码了。En: At the critical moment, Liang doesn't have many chips left.Zh: 他必须要做出决定。En: He must make a decision.Zh: 保守一点可能暂时保存筹码，但一旦输了，也许一切就会完蛋。En: Playing conservatively might temporarily save his chips, but if he loses, everything might fall apart.Zh: 在每个人紧盯牌局时，梁决定全押。En: As everyone intensely focuses on the game, Liang decides to go all in.Zh: 几轮紧张的发牌之后，仅剩一张牌的揭晓。En: After several tense rounds of dealing, only one card remains to be revealed.Zh: 梁的摆出的是一副似乎无力回天的普通牌，但是，奇迹发生了。En: Liang shows a seemingly hopeless ordinary hand, but then, a miracle happens.Zh: 最后一张牌给了他一手顺子。En: The last card gives him a straight.Zh: 周围的观众屏息凝神，接着响起热烈的掌声。En: The surrounding audience holds their breath, and then applause erupts.Zh: 梁赢了！En: Liang has won!Zh: 钟声敲响，新的一年开始了。En: The bell tolls, marking the start of a new year.Zh: 梁感到内心的压力一下子释放出来。En: Liang feels the pressure inside him suddenly release.Zh: 他知道自己做到了。En: He knows he's done it.Zh: 他带着笑容，毅然决定回去后要告诉家人实情，坦诚面对一切。En: With a smile, he decides firmly to go back and tell his family the truth, to face everything honestly.Zh: 澳门的夜空，烟花璀璨。En: The night sky in Aomen is filled with dazzling fireworks.Zh: 梁抬头看到星空，他相信，无论怎样，未来总是充满希望的。En: Liang looks up at the starry sky, believing that no matter what, the future is always full of hope. Vocabulary Words:dazzling: 璀璨brilliant: 辉煌chip: 筹码turmoil: 翻腾debt: 债务seep: 透conservatively: 保守momentum: 气势critical: 关键temporarily: 暂时audience: 观众miracle: 奇迹applause: 掌声tolls: 敲响release: 释放firmly: 毅然honestly: 坦诚remarkable: 卓越experienced: 经验丰富pressure: 压力hope: 希望cracks: 窗缝opportunity: 契机reveal: 揭晓ordinary: 普通proceeds: 进行concerning: 关乎straight: 顺子breath: 屏息decides: 决定

Last time we spoke about the beginning of the Northern Expedition. It was a decisive shift in Warlord Era China as Chiang Kai-Shek spearheaded his campaign to reunify China by invading Hunan. Despite staggering odds and limited resources, predominantly supplied by the Soviets, Chiang Kai-Shek relied on the weakness of his adversaries. Initial successes were achieved by exploiting political instability in Hunan, where local warlords were alienated from the populace. Chiang Kai-Shek strategically gained support from local commanders like Tang Shengchih, bolstering the KMT's forces. The campaign faced logistical challenges, such as difficult terrain and cholera outbreaks, but the KMT's superior strategy and local support led to victories along key river lines. By August 1926, the KMT had effectively weakened Wu Peifu's forces and secured Hunan, establishing a crucial base for further offQensives. However the KMT's actions had now drawn the attention of Sun Chuanfang who was preparing his own offensive.   #111 The Northern Expedition Part 2: The Jiangxi and Fujian Campaigns  Welcome to the Fall and Rise of China Podcast, I am your dutiful host Craig Watson. But, before we start I want to also remind you this podcast is only made possible through the efforts of Kings and Generals over at Youtube. Perhaps you want to learn more about the history of Asia? Kings and Generals have an assortment of episodes on history of asia and much more  so go give them a look over on Youtube. So please subscribe to Kings and Generals over at Youtube and to continue helping us produce this content please check out www.patreon.com/kingsandgenerals. If you are still hungry for some more history related content, over on my channel, the Pacific War Channel where I cover the history of China and Japan from the 19th century until the end of the Pacific War. Chiang Kai-Shek's gamble into Hunan and then Hubei had paid dividends. Wu Peifu had retreated to his stronghold of Wuhan by the end of August. By September the NRA began a siege of Wuchang while capturing Hankou and Hanyang. Once Wuchang fell, Wuhan would be secured. Again for those a bit confused, Wuhan more or less refers to the conglomeration of Wuchang, Hankou and Hanyang, sometimes called the “three towns of Wuhan”. Wuhan was the first major objection of the Northern Expedition as it held an incredible arsenal, administrative structures for a government and other lucrative goodies. Now from the offset of the Northern Expedition, Chiang Kai-Shek and his subordinates chose a divide and conquer strategy. The first major warlord on their kill list was Wu Peifu. They chose him because of his powerbases proximity to Guangdong and to be frank, he was one of the weaker big warlords. To the east of course was Sun Chuanfang, who now reigned over 5 provinces and had a 200,000 strong army that had proven itself quite effective against the Fengtian forces. The NRA tried to both avoid Sun Chuanfang and offer some carrots to him. However Sun Chuanfang had no desire to join the KMT because he figured it would see him receive a lesser role than his current position. Yet the strategy of simply leaving Sun Chuanfang alone had worked thus far like a charm. Sun Chuanfang did not come rushing to Wu Peifu's aid, instead he dragged his feet. It was long enough for the NRA to take ⅔'s of Wuhan, now Wuchang was under siege and they were quite vulnerable. As reports came in, indicating Sun Chuanfang was preparing an offensive, Chiang Kai-Shek did I guess you can say the unthinkable.  Sun Chuanfang had kept his troops at bay, hoping to reap the benefits of the NRA-Wu Peifu war. As Wuchang became under siege, Sun Chuanfang finally decided to act, preparing a two pronged offensive against the NRA. Sun Chuanfang transferred 100,000 troops from Jiangsu, Zhejiang and Anhui to aid the 20,000 troops stationed in Jiangxi, concentrated along the Nanxun railway and border with Hubei. He was going to use these forces to cut off the Wuchang-Changsha railway, easing the way for him to seize Hunan and Hubei, adding more gems to his thanos gauntlet. Meanwhile the rest of his army, mostly Fujian based, would invade Guangdong.  Unfortunately for him, he did not expect the unexpected, Chiang Kai-Shek preemptively ordered 50,000 men to invade Jiangxi. As Sun Chuanfang's forces were advancing towards Jiangxi, the NRA bolted into northern Jiangxi, descending into the lowland plain near Poyang Lake. Chiang Kai-Shek's men were now threatening the capital of Jiangxi, Nanchang and further south the major city of Ganzhou. It took the 1st Division of the 5th NRA army 3 days to take Ganzhou, while most of southern Jiangxi fell to other NRA forces. Their victories were sped up by the defection of Lai Shihuang, whose Jiangxi 4th Division was one of those Sun Chuanfang had deployed to defend the province from the NRA. Despite having a larger army, Sun Chuanfang's forces were by no means unified and were failing to work together. The NRA 6th army swept through central Jiangxi, smashing the dazed defenders of Nanchang and taking the city by September 19th. This central sweep was done to attract Sun Chuanfangs fresh troops pouring into northern Jiangxi, who were just getting off steamboats along the Yangtze. In the north along the Yangtze, the NRA offensive ground to a halt when Sun Chuanfangs vanguard engaged them. Sun Chuanfangs fresh troops hurled the NRA back towards the Hubei border with a fierce 3 day long counter attack. This prompted Chiang Kai-Shek to frantically reinforce them, seeing the Wuchang besiegers became a skeletal crew from the 10th to 16th. It was not a decisive victory for Sun Chuanfang, but it certainly was a setback for the NRA whose position in the Yangtze valley was vulnerable. Sun Chuanfangs men steamrolled from Nanking, upriver to Kiukiang in Jiangxi, and he came with them to personally direct the reinforcements. He landed on September 21st and he set to work ordering his forces to sweep the lowlands. His men recaptured Nanchang after a few days and most of Jiangxi fell back under his hand. Sun Chuanfang rounded up hundreds of soldiers, officials and teachers, suspected to be colluding with the KMT and had them executed. Many students, both male and female were being targeted based on their short haircuts, this was in a Russian fashion, a fad at the time. He had their heads impaled on stakes in public places around Nanchang and Kiukiang to warn any who would collude with his enemies. Sun Chuanfang presumed the students teachers were the culprits supporting the KMT movement and made sure to purge any found doing so.  The second half of September saw the NRA losing control of the situation, the Northern Expedition was in danger of falling apart.Sun Chuanfang's two pronged offensive was pushing the NRA deep into Hunan and Hubei, while cutting them off from Guangdong. Isolated into those pockets they would become easy pickings. Sun Chuanfang could also expect support from the battered Wu Peifu who was stuck in Hubei, things were not looking good for Chiang Kai-Shek. Chiang Kai-Shek was also facing issues with his base of Guangzhou as communists and peasantry groups were disrupting his logistical support. Chiang Kai-Shek telegraphed the KMT government in Guangzhou to settle the then ongoing Canton-Hong Kong Strike, that had erupted as a result of the May 13th incident. Chiang Kai-Shek's foreign minister Eugene Chen frantically began releasing multiple announcements to the media that thousands of ex-strikers were going to be sent to the front lines to support the NRA. With this implicant threat, 16 chaotic months of blockades and strikes against Hong Kong and the British suddenly came to a stop. Back over at the Jiangxi front, the fighting was growing more intense through late September. Several areas the NRA was defending were looking dire. By the end of the month, NRA intelligence was indicating General Chu Peiteh's 3rd Army were being driven out of central Jiangxi into Hunan and Wang Polings prestigious 1st Division of the 1st army had been badly mauled and were fleeing across mountains. Sun Chuanfang began trying to coordinate his offensive with Wu Peifu's trapped forces at Wuchang with an ingenious idea of sailing along Lake Tayeh from the Yangtze dikes to land due east of Wuchang. The landing happened on September 25th and initially it sent the NRA 4th army packing. The entire front began to crumble. Yet Sun Chuanfangs position was not entirely secure either. His 5 provincial armies were not as unified as the NRA and his subordinates' loyalties were not trustworthy. In fact his generals representing separate governments of Jiangsu, Anhui, Jiangxi, Zhejiang and Fujian were all clamoring for provincial autonomy. Many of Sun Chuanfangs administrators urged him to form a real federation providing provincial autonomy.  Both Chiang Kai-Shek and Sun Chuanfang were facing different issues, but both could see their authority crumble. Sun Chuanfang began negotiating with Chiang Kai-Shek, offering to halt his offensive into Hunan in exchange for a nonaggression pact between the KMT and his 5 provinces. Chiang Kai-Shek replied in a telegram that the KMT did not desire to enlarge the war and that if Sun Chunfang withdrew his forces from Jiangxi, the KMT would withdraw from the Jiangxi territories currently occupied. Sun Chuanfang then counter proposed he would halt his offensive at the Hunan border if the NRA withdrew all their forces from Jiangxi. Sun Chuanfang was somewhat bluffing Chiang Kai-Shek. While his counteroffensive was certainly impressive, he had actually reached his limit in late September.  In early October the NRA began pushing the enemy back. By the 5th Sun Chuanfang's thrust towards Wuchang had broken and his men were rushing back to the steamers to pull back to Jiangxi. On October 3rd the NRA severed communications via that railway at Tehan. After that the NRA reorganized and gradually pressed back down into the lowlands towards the port of Kiukiang and the railway station south of Nanchang. Sun Chuanfang tossed fierce counter attacks, recapturing parts of the railway, threatening the NRA 7th army's flank. On the 7th, a combined NRA attack tried to overwhelm a fortified hill position that dominated the railway line near Yanghsiu. However Sun CHuanfangs inner defensive lines held and by the days end the NRA had taken a severe beating for their efforts as they pulled back. In the south around Nanchang the battle raged back and forth. By mid-October the capital changed hands multiple times as both sides continued to pour reinforcements in the meat grinder.  The annual holiday known as republic day, commemorating the Wuchang uprising on October the 10th was a morale booster for the NRA forces. Fate would have it, that same day, Sun Chuanfangs relief columns failed to reach Wuchang to aid its desperate defenders. Some of the garrison units secretly negotiated with the KMT and opened the gates of the city to them. As the NRA stormed Wuchang, nearly 100 civilians were trampled to death as people fled the city. Wu Peifu unable to rally any support, simply bid his time over in Honan. For the later half of October the combat began to dissipate somewhat allowing the NRA to reorganize itself. Another major development emerged, Sun Chuanfang had major problems erupting in Shanghai. In fact Shanghai was only the most apparent symptom of the problem, in reality Zhejiang was falling into a full rebellion. During September and early October, certain units of Sun Chuanfangs Zhejiang army began telegraming him demands to block entry into their province or the other 4 provinces under his rule any assistance from the Fengtian forces. A leader emerged, the head of the All-Zhejiang Association “Chuan che kunghui”, named Chu Fucheng. Now Chu Fucheng had numerous connections amongst prominent Zhejiagnese, like Chiang Kai-Shek. Chu Fucheng began orchestrating a counter movement, just before the NRA began attacking Nanchang. On October 15th, his association sent a telegram to Sun Chuanfang, demanding Zhejiang forces fighting for him be returned to duties within their home province and that Zhejiang be given autonomy. Then the civil governor of Zhejiang, Xia Chao began a rebellion, supported by the KMT at Guangzhou.  Now historically, Zhejiang had been quite a loyal province during the late Qing dynasty, a time when many were calling for the end of the Manchu domination. During the warlord era, three leading commanders of the Zhejiang forces had conceded suzerainty over Zhejiang territory to powerful warlords outside the province. This caused a situation that saw northern chinese superiors constantly forced to make conciliations with Zhejiang independence movements that sprang up nearly every year since 1916. Zhejiang had never been successfully shaking over their northern overlords. Zhejiang military leaders such as Xia Chao, Zhou Fengqi and Chen Yi, had defected the the NRA and would become crucial to the KMT conquest of the province. All three of these men had gained political influence within the province through their military power, derived from the final decade of the Qing dynasty.  Shortly after Yuan Shikai's death, Xia Chao had led the small Wubei clique against its rival the Baoding clique led by Governor Lu Gongwang. As governor Lu Gongwang had the upper hand and did all he could to undermine Xia Chao who was leading the provincial police at the time. Xia Chao gradually brushed shoulders with Zhou Fengqi who worked together to try and overthrow Lu Gongwang. However the Anhui clique gradually took over the province, and appointed Lu Yongxiang as its military governor. Xia Chao had read the tea leaves and backed Lu Yongxiangs rise, thus maintaining his own power. After Sun Chuanfang took over the province in 1924, Xia Chao became his vice commander during some of the intense fighting against the Fengtian clique. However Sun Chuanfang became weary of the local officials power and began a isolated the most powerful, moving them around so they could not network together to overthrow him.  Xia Chao was unhappy with how Sun Chuanfang treated him and he began rallying the local gentry to demand provincial autonomy and the adoption of a new constitution. Sun Chuanfang responded by dispatching his subordinate Lu Xiangting to Hangzhou on January 25th of 1926 to be Zhejiangs new military governor. Lu Xiangting showed up with his forces and positioned them along every important route in the province. Thus the attempt to succeed was snapped in the bud. Xia Chao thus put on a smile and welcomed Lu Xiangting, tossing a party for him when he arrived to show his submission so he could maintain his position. In secrecy Xia Chao began building up police and security forces to start a rebellion and he had grown quite the private army, nearly 5000 men strong. Thus at this point Xia Chao held the position of chief of Zhejiangs police and civil governor over the province; Zhou Fengqi and Chen Yi were both divisional commander's over the 3rd and 1st divisions, who had received their positions through Xia Chao. After united the 5 provinces, Sun Chuanfang had transferred Zhou Fengqi's 1st division to garrison the capital of Nanking and Chen Yi's 3rd division to defend northern Jiangsu. These moves were specifically done to remove two the Zhejiangs largest provincial military units from their home areas. Sun Chuanfang likewise had moved over to his new HQ in Nanking and this prompted Xia Chao to presume he would rule over Zhejiang, but of course that did not happen. The year of 1926 produced good conditions for an uprising to take place in Zhejiang. Poor harvests in 1925 and 1926 led to an economic crisis which was exacerbated by over taxation by Sun Chuanfang. Then the NRA launched their northern expedition, led by the Zhejiangnese Chiang Kai-Shek. Once the NRA began their offensive, Xia Chao sent word to the KMT and formed a secret agreement with Chiang Kai-Shek. As civil governor, Xia Chao promised to officially defect if Wuchang fell to the NRA. The KMT likewise notified him their contact Niu Yongjian in Shanghai would create an uprising to help him against Sun Chuanfang. Thus Xia Chao conspired with the KMT to weaken Sun Chuanfangs rear area while the bloody battle over Jiangxi was at its height. Xia Chao was going to receive a new title under the KMT, equivalent to military governor, to be chairmanship over the provincial military committee. Back over in Guangzhou in early October the KMT congress approved the motion. Xia Chao sent word to Zho Fengqi, asking him to bring his 3rd brigade back to Zhejiang, but Zhou Fengqi could not risk such a maneuver, basically some of his most important units were literally hostages to Sun Chuanfang's Nanking HQ. Furthermore if he tried to advance to Zhejiang he would be moving directly through areas held by other units loyal to Sun Chuanfang. However on October 14th, some of Zhou Fengqi's reserve forces at Nanking did attempt to escape, but they were apprehended and disarmed, very few made it back to Zhejiang. Over at Xuzhou in northern Jiangsu, Chen Yi and his 1st division refused Xia Chao's appeal to rebel against Sun Chuanfang. Without these two men and their divisions, Xia Chao was facing a huge gamble with his little rebellion. He hoped the element of surprise would allow him to capture Zhejiang and possibly Shanghai as well. On October 16th, Xia Chao declared independence for Zhejiang and boarded 2500 men of his personal army aboard trains set for Shanghai. It was not long before Sun Chuanfang received reports via telegrams about what Xia Chao was doing. It is alleged Chen Yi may have leaked information about Xia Chao's rebellion to Sun Chuanfang hoping to receive a promotion. As Xia Chao's force of unseasoned armed policemen approached Shanghai they found the tracks blocked and were forced to march by foot against prepared defensive positions. The promised communist uprising in Shanghai failed to materialize as local CCP and KMT members were still debating how to go about creating a rebellion in the city. Many CCP members urged action, but they lacked sufficient arms to really do anything. After a very brief fight on the 17th within Shanghai's western suburbs the Zhejiang, Xia Chao was forced to pull out after forces loyal to Sun Chuanfang led a decisive counter attack. Xia Chao then frantically sent telegrams to Sun Chuanfangs subordinates claiming he had been deceived into defecting over to the KMT. Xia Chao then pulled his men back to Chiahsing. Meanwhile at Hangzhou crowds gathered demanding autonomy for the province.  On the 18th a mass meeting of political activists gathered at Hangzhou proclaiming independence and support for the KMT government in Guangzhou. Xia Chao publicly joined the KMT and soon many significant Zhejiang provincial officials joined. Xia Chao then accepted his new title as provisional chairman and took command of the new 8th NRA army. They were roughly 10,000 strong, completely untrained and poorly armed. Those loyal to Sun Chuanfang began fleeing northwards en masse as Xia Chao went to work appointeding new officials. Already forewarned of the insurgency, Sun Chuanfang transferred loyal troops from Nanking by rail to the Zhejiang border. By the morning of the 20th, his troops were advancing across the border and wrecking amateurish defenses established by Xia Chao's men near Chiahsing. Both sides had railway cannons, but Xia Chao's men proved inept at their use. Xia Chao fled, leaving behind 6000 untrained and hopeless outmatched troops. By the evening Sun Chuanfang had effectively crushed the Zhejiang independence movement as he rounded up hundreds of captured Zhejiang rebels, machine gunning them down at night. The streets of Hangzhou were looted by Sun Chuanfangs men who carried out terrible massacres upon the civilian population. Xia Chao had tried to flee into the Zhejiang hillside in his car but was captured quickly in a nearby town. He was promptly shot in the streets, decapitated and his head was sent over to Nanking where it was placed on a spike as a warning to others. Chen Yi was then appointed the new governor of Zhejiang, adding to the claims it was perhaps he who sold out Xia Chao. Meanwhile Chiang Kai-Shek had all his uncommitted troops tossed into the Jiangxi warzone. Included in these were the 4th class of officers recently graduated in October from the Whampoa Academy. It was certainly a baptism under fire for these young recruits. The reinforcements allowed the NRA to finally crack Sun Chuanfangs growingly demoralized forces. Sun Chuanfangs southern defensive line was the first to begin to sag under an assault by the 2nd and 14th NRA armies. The 14th NRA army by the way was a unit that recently defected from Sun Chuanfang. By October 27th Sun Chuanfangs forces in southern Jiangxi were in a full retreat heading north through Nanchang. As the battle carried into November, the NRA began to concentrate along the Xiu valley for an assault against the Kiukiang-Nanchang defensive line. Reinforced by the 4th Army's 10th division led by Chen Mingshu, the 7th army swept down the lowland and attacked Tehan. The enemy's defensive line crumpled there allowing the NRA to cut the railway line, isolated Sun Chuanfangs south near Poyang Lake. The NRA then captured the ports of Kiukiang and Hukou along the Yangtze, further strangling Nanchang. By the 9th, Nanchang fell and Sun Chuanfangs men were in a general retreat heading down the Yangtze valley. The momentum of the NRA offensive now saw them sweep through Jiangxi. Chiang Kai-Shek began sending agents to Sun Chuanfang again offering him positions with the KMT. During the Jiangxi campaign, both sides had deployed their best troops into what essentially became a two month meat grinder. The casualties would be the highest incurred during the Northern Expedition. According to some KMT records, the final weeks push to capture the Kiukiang-Nanchang railway cost the NRA 20,000 casualties and for Sun Chuanfang, nearly 40,000. Overall the campaign saw the NRA suffer 100,000 casualties. The NRA victory saw them acquire an incredible amount of war materials, greatly expanding their military capabilities. At Nanchang alone the NRA had suffered 4000 casualties, but took 15,000 prisoners and 20,000 rifles, enough to arm an entire corps. A major reason for the heavy casualties was the NRA lack of heavy artillery. Early in the summer of 1926, when the Northern Expedition had kicked off with the invasion of Hunan, the 1st Army led by Ho Yingqin assembled along the border of Guangdong and Fujian. Being one of Sun Chuanfangs 5 provinces, Fujian posted a threat to the NRA's flank if he entered the war. Ho Yingqin had concentrated his men at Swatow primarily to defend the border, but if the opportunity arose he could very well invade Fujian. In September once the Jiangxi campaign began, the 1st Army and Sun Chuangfangs Fujian allies began engaging in border skirmishes. Sun Chuanfang had actually already given orders to his main commander in Fujian, Zhou Yingren to invade Guangdong, but Zhou Yingren had dragged his feet until late September. Zhou Yinren had 4 armies under his command, over 30,000 troops in all. When he finally launched his attack, directed primarily at Swatow, Ho Yingqin had more numbers, but Ho Yingqin had prepared a formidable defensive line over rugged coastal terrain. Zhou Yingren's late offensive was quite characteristic of the poor coordination amongst Sun Chuanfangs forces, a weakness the NRA figured out early and exploited. In another tactical blunder, Sun Chuanfangs navy, operating off Fujian's coasts and riverways, was ordered to support Zhou Jinren's assaults with naval bombardment. The navy did so, but did not target Swatow where the majority of pressure was being exerted. The main reason for this would turn out that Sun Chuanfangs main admiral had already begun secretly negotiating with the KMT to defect. In late September Ho Yingqin's 1st army received a major breakthrough. A well-timed defection of two brigade commanders under Zhou Yingren, provided Ho Yingqin with vital intelligence on his enemy's troop placements and defenses. Ho Yingqin unleashed his offensive, driving a thrust directly into Sun Chuanfangs southern flank. They were attacking what was known as the coastal road that leads to Shanghai. On October 9th, in order to distract the Fujian forces already penetrating the border of Guangdong near Sungkou, Ho Yingqin had some of his troops cross the Fujian border to capture Yungting. By the 10th Yungting was seized as Sungkou was likewise taken by October 13th. Then Ho Yingqin counterattacked the rear of the Fujian forces threatening their lines of communication.  During the rest of October the 1st Army infiltrated the lightly defended back country of Fujian. The populations of these parts were mainly Hakka who had suffered under the rule of Sun Chuanfang. The Hakka people saw the invading NRA as salvation, because by this point they had established a good reputation for not plundering and molesting peoples where they went. Local militias known as “mintuan” began assembling, to a number possibly 10,000 strong aiding the NRA. The NRA welcomed them warmly into the ranks forming 3 Fujianese divisions, one independent brigade and 3 regiments. With the additional manpower, the NRA was quickly isolating and defeating Zhou Yingrens forces. One of the last fortified positions at Tingchou saw the recently arrived 14th army working in tandem with Fujianese allies to take it. As Zhou Yingren pulled back he lost 500 rifles and machine guns, some cannons, ammunition and many men, greatly bolstering the NRA. Zhou Yingren and his men found themselves in unfamiliar mountain heights, with their straw footwear quite unsuited to defend themselves against constant hit and run tactics by the local mintuan. Along the coast, Zhou Yingren's attempts to attack the ports of Chao'an and Swatow had ground to a halt and by October 14th his men had been pushed back to Changzhou. The NRA pressed its offensive simultaneously along the coastal road and down the interior valleys making it impossible for Zhou Yingren to coordinate a proper defense of Chanzhou. By November 8th Changzhou had fallen. Zhou Yingren pulled further back up the coast to Tung'an where he mounted a defense, but the NRA seized Chuanzhou, Xienyu and Yangtai in the meantime. From late September until December Ho Yingqin had conquered the southern part of Fujian, the most populated parts by far and was now pressing upon the walled provincial capital of Fuzhou, lying just across the Min River.  The defenders of Fuzhou were quite demoralized. Zhou Yingren pleaded with Sun Chuanfang to dispatch reinforcements from the adjacent Jiangxi, but he was preoccupied with fighting there and quelling the rebellion in Zhejiang. Zhou Yingren had to do best with what he had. Unfortunately for him, many in the Fujianese navy and maritime forces had not just defected to the NRA, but they added their cannons to shelling Fuzhou from the coast and Min river bank. Then the commander of the Fuzhou garrison, Li Shengchun, simply opened the gates to the city to the NRA. Fuzhou was surrendered basically without any real fight on December 9th. Trapped within the city, the Fujian governor screamed as he was arrested “I don't understand what has happened! Our forces and weapons were superior but you have captured me!” With just under 2000 troops left of his original 60,000, Zhou Yingren limped away to Zhejiang, Fujian and effectively fallen to the NRA. I would like to take this time to remind you all that this podcast is only made possible through the efforts of Kings and Generals over at Youtube. Please go subscribe to Kings and Generals over at Youtube and to continue helping us produce this content please check out www.patreon.com/kingsandgenerals. If you are still hungry after that, give my personal channel a look over at The Pacific War Channel at Youtube, it would mean a lot to me. Chiang Kai-Shek was utilizing every trick in the book to divide and conquer Sun Chuanfang's 5 province empire. As formidable as Sun Chuanfang was, he was losing in a battle of wits and now two of his provinces had fallen victim to the NRA. Could the warlord turn things around, or would he be forced to join to lose to the KMT?

En este intrigante episodio de Extra Anormal Podcast, tenemos como invitado a Xiu, quien nos lleva a explorar temas profundamente conectados con nuestros ancestros. Discutimos la sorprendente teoría de que La Llorona podría ser la Virgen de Guadalupe, respaldada por información y conocimientos ancestrales. Acompáñanos en este viaje de descubrimiento y misterio, donde el pasado y el presente se entrelazan en historias fascinantes. ¡No te pierdas este episodio y suscríbete para más contenido que te dejará pensando! Distribuido por Genuina Media

In this episode, we dive into the latest ETF flow data for May 2024. We explore the strong net inflows in Canada, the notable trends in equities and the significant outflows of Canadian listed spot Bitcoin ETFs. We also tackle the issue of dealing with questionable management. Using Autodesk as a case study, we discuss the challenges faced by shareholders when facing questionable management decisions. We review the company's transition to SaaS, its recent controversies, and the involvement of activist investor Starboard Value.  Tickers of Stocks & ETF discussed: XIC.TO, CIAI.TO, VFV.TO, DMEU.TO, ZAG.TO, XIU.TO, CSAV.TO, HULC.TO, XSP.TO, HXT.TO Check out our portfolio by going to Jointci.com Our Website Canadian Investor Podcast Network Twitter: @cdn_investing Simon's twitter: @Fiat_Iceberg Braden's twitter: @BradoCapital Dan's Twitter: @stocktrades_ca Want to learn more about Real Estate Investing? Check out the Canadian Real Estate Investor Podcast! Apple Podcast - The Canadian Real Estate Investor  Spotify - The Canadian Real Estate Investor  Web player - The Canadian Real Estate Investor Sign up for Finchat.io for free to get easy access to global stock coverage and powerful AI investing tools. Register for EQ Bank, the seamless digital banking experience with better rates and no nonsense.See omnystudio.com/listener for privacy information.

Imagine, if you will, that there is one foundational formula to how the Universe works. First of all, what does that mean? And then, what are the implications for how you live your life, and for what is possible? Join me and my guest today and prepare for your mind to be blown open and to leap beyond your horizons. Quantum physicist and string theorist, Dr. Rulin Xiu's life work has been pursuing and sharing the Grand Unification Theory, a theory that uses one mathematic formula to explain everything. Her cutting-edge breakthrough research helps integrate science and spirituality at the fundamental level. It leads to an advanced quantum information system that can help people transform at a deeper level not only physical sickness, but also emotional, mental, and spiritual challenges, as well as relationship, financial, intellectual, and every aspect of life. Dr. Xiu is a Certified Grandmaster Teacher and Practitioner, and a co-founder of Tao Science and co-author of the books, Tao Science and Soul Mind Body Science System, with world-renowned spiritual healer, Dr. and Master Zhi Gang Sha, and author of the book, Divine Love. Find Dr. Rulin Xiu at https://drsha.com/teachers/rulin-xiu/ and https://www.facebook.com/DrRulinFind Laurie Seymour at https://thebacainstitute.com/ .Want to reach out to me? You can email me directly at laurie@thebacainstitute.com If you are enjoying our show and you'd like to spread the love, please subscribe, download, comment, and tell your friends and family about us. We want to thank you for your continued support. We really appreciate it! Find more episodes of Wisdom Talk Radio HERE Discover your Quantum Connection Style! (QUIZ)The first step to mastering your Quantum Connection is to know yournatural style of being in the world. We are each designed to connect with Source differently. Knowing your style, with both your superpowers and your learning edge, is the first step of aligning with your inner guidance at a deeper level than you ever thought you could. It's the doorway to creating what you truly want in your life.Click here to take the quiz now: Quantum Connection QuizSupport this podcast at — https://redcircle.com/wisdom-talk-radio/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

[Today's show includes a guided meditation. Please listen when not driving or operating heavy equipment, or pause before the meditation.] In today's episode, we meet Dr Rulin Xiu, a Berkeley graduate quantum physicist and string theorist, who shares her breakthrough research that integrates science and spirituality. Highlights from today's show:• Everything is made of vibrations• We are made of a vibrational field• Vibration carries three things 1) Matter 2) Energy 3) Information• Information gives form and shape to energy & matter• Information determines every aspect of our life• Soul is “content of information” that is in our vibrational field• Spirit heart is the receiver of information• Our most important goal in life is to learn how to open our spirit heart• Opening the spirit heart is the key to manifesting About our guestDr Rulin Xiu is a Berkeley graduate quantum physicist and string theorist. Her life work has been pursuing and sharing the Grand Unification Theory (GUT), a theory that uses one mathematic formula to explain everything. Her cutting-edge breakthrough research helps integrate science and spirituality at the fundamental level. It leads to an advanced quantum information system that can help people transform at a deeper level not only physical sickness, but also emotional, mental, and spiritual challenges, as well as relationship, financial, intellectual, and every aspect of life. Dr. Rulin Xiu is also a Certified Grandmaster Teacher and Practitioner.Dr. Xiu dedicates her life to empowering the new generation to heal themselves, humanity, and Mother Earth. Her goal is to help them be awakened to, discover, and utilize their higher potential, greater power, and deeper meaning of their life so that they can enjoy more success, love, happiness, and abundance in life.She is a co-founder of Tao Science and co-author of the books, Tao Science and Soul Mind Body Science System, with world-renowned spiritual healer, teacher, and leader, Dr. and Master Zhi Gang Sha, and author of the book, Divine Love. She teaches at Tao Academy and actively presents the wisdom of Soul Mind Body Science and Tao Science at scientific and spiritual conferences and workshops worldwide. Connect with Dr Rulin XiuWebsite: https://taosciences.com/Tao Science Facebook Group:https://www.facebook.com/groups/746091275799768 About your host:I'm your host, Anita Adams, an award-winning leader and the founder of Joyful Inspired Living, an organization dedicated to teaching people how to access their highest most authentic self so they can find clarity and create a life of purpose, passion and joy. In addition to hosting the Joyful Journey Podcast, I offer retreats, both live and online, and private coaching programs to further guide my clients on their journey to their highest self. Email - anita@joyfulinspiredliving.comWebsite -

In this special episode of the Canadian Investor Podcast, Daniel Foch joins Simon to talk macro! We discuss the recent downgrade of the US Debt by Fitch, the recent downgrade of US banks by Moody's, the impact of base effects on headline inflation and how bond yields impact fixed mortgage rates. Symbols of stocks discussed: XBB.TO, SPY, AGG, XIU.TO Check out our portfolio by going to Jointci.com Our Website Canadian Investor Podcast Network Twitter: @cdn_investing Simon's twitter: @Fiat_Iceberg Braden's twitter: @BradoCapital Want to learn more about Real Estate Investing? Check out the Canadian Real Estate Investor Podcast! Apple Podcast - The Canadian Real Estate Investor  Spotify - The Canadian Real Estate Investor  Sign up to Stratosphere for free

One effective approach to teaching is to identify where students may have some weaknesses and then provide them with additional resources or information to shore up their understanding of that topic. Well, that's exactly what Elsevier's ClinicalKey Student Assessment is designed to do, and because it's an online platform, the process is efficient for both instructors and students. “It's a foundation to help students in that journey of self-discovery and self-learning which, hopefully, will set them up for the rest of their careers,” says Dr. Phil Xiu, the platform's editor-in-chief. Xiu's journey to that role includes many years of involvement in medical education and health tech, from writing textbooks to becoming the series editor of Elsevier's Crash Course book series which has sold over a million copies and been translated into eight different languages. In this enlightening conversation with host Michael Carrese you'll also learn about efforts to improve diversity, equity and inclusion in medical training, how blockchain technology is being used to enhance patient access to their complete medical record, and how being a practicing family physician shapes Xiu's work as an educator.

Rulin is an author, quantum physicist, and string theorist who co-founded the Soul Mind Body System with former guest, Master Sha. In this episode, she shares her scientific definition of the soul, does a soul healing on Brandon and the audience, and shares a fascinating story of how Mayan spirits led her to a deeper understanding of space and time. To find out more about the life Dream Builder Event, check out:  BTI.com/Positive Check out Dr. Xiu's offerings mentioned at positivehead.com/rulin Care to play a game with the youniverse? Ask the universe the episode you would most benefit from hearing next and click positivehead.com/game.  Download The Golden Key audio or e-book at GoldenKey.Gift with the Code: POSITIVEHEAD Text Brandon to receive regular golden nuggets of wisdom at 310.564.0750

In diretta dal Mercato di Testaccio in occasione del Salone dell'editoria sociale Nicola Villa e Leonardo Zaccone fanno il Tamburino.Parliamo della zuppa di pomodoro lanciata dagli attivisti sull'emergenza climatica sul Van Gogh. L'arte e la neuro-divergenza un nuovo spazio a Prati. Una nuova mostra su Pasolini. La rassegna Audience revolution al teatro Palladium. Jamie Stewar degli Xiu xiu. La settimana della cultura coreana. E infine la Festa del cinema di Roma.

E aqui vamos nós com mais um tema requentado... AAAA mais é ódio de persona... Xiu caio, ódio de você que esqueceu o texto!!! Apoie nosso projeto: picpay.me/eguacast www.padrim.com.br/eguacast Nos acompanhe: instagram.com/eguacast twitter.com/eguacast Email: contato@eguacast.com.br Siga nosso canal da Twitch https://www.twitch.tv/eguacast Siga os participantes: Caio Ferreira: @Caio_2112 Gaspa: @retroGaspa Thais Boccia: @thaisboccia Guilherme Vertamatti: @GVertamatti

Dans ce balado, le Youtuber quécébois JosFinance raconte sa motivation à vulgariser les concepts économiques, il nous partage ses FNB préférés ainsi que des détails sur ses actifs boursiers et donne son opinion sur le Fonds FTQ, notamment.

In this week's edition of the Keen Mind's podcast Tess and Jen discuss Dembe's loyalties, the trustworthiness of the Xiu sisters, and what could have been behind Charlene's strange reaction.

Notre critique du documentaire "Bigger Than Us" réalisé par Flore Vasseur. Ce film fait partie de la section éphémère "Le cinéma pour le climat" du Festival de Cannes 2021.  Abonnez-vous au podcast CINECAST sur la plateforme de votre choix : https://smartlink.ausha.co/cinecast   ---   Titre : Bigger Than Us (Vivre en grand) Sortie : 22 septembre 2021 De : Flore Vasseur Synopsis : Depuis 6 ans, Melati, 18 ans combat la pollution plastique qui ravage son pays l'Indonésie. Comme elle, une génération se lève pour réparer le monde. Partout, adolescents et jeunes adultes luttent pour les droits humains, le climat, la liberté d'expression, la justice sociale, l'accès à l'éducation ou l'alimentation. La dignité. Seuls contre tous, parfois au péril de leur vie et sécurité, ils protègent, dénoncent, soignent les autres. La Terre. Et ils changent tout. Melati part à leur rencontre à travers le globe. Elle veut comprendre comment tenir et poursuivre son action. Des favelas de Rio aux villages reculés du Malawi, des embarcations de fortune au large de l'île de Lesbos aux cérémonies amérindiennes dans les montagnes du Colorado, Rene, Mary, Xiu, Memory, Mohamad et Winnie nous révèlent un monde magnifique, celui du courage et de la joie, de l'engagement pour plus grand que soi. Alors que tout semble ou s'est effondré, cette jeunesse nous montre comment vivre. Et ce qu'être au monde, aujourd'hui, signifie. Bande-annonce : https://www.youtube.com/watch?v=bX75izSzphE #BiggerThanUs #CINECAST

In her galvanizing debut feature documentary, BIGGER THAN US, Director Flore Vassuer follows an international collection young people working to bring long term solutions to seemingly intractable social, political and economic issues. For six years, Melati Wijsen, 18, has been fighting the plastic pollution that is ravaging her country, Indonesia. Like her, a generation is rising up to fix the world. Everywhere, teenagers and young adults are fighting for human rights, the climate, freedom of expression, social justice, access to education or food. Dignity. Alone against all odds, sometimes risking their lives and safety, they protect, denounce and care for others. The earth. And they change everything. Melati goes to meet them across the globe. She wants to understand how to hold on and continue her action. From the favelas of Rio to the remote villages of Malawi, from makeshift boats off the island of Lesbos to Native American ceremonies in the mountains of Colorado, Rene, Mary, Xiu, Memory, Mohamad and Winnie reveal a magnificent world, one of courage and joy, of commitment to something bigger than oneself. At a time when everything seems to be or has been falling apart, these young people show us how to live. And what it means to be in the world today. BIGGER THAN US was produced by Marion Cotillard and Denis Carot. Director Flore Vassuer as well as film subjects and activists Melati Wijsen and Mary Finn join us for an engaging conversation on how these inspiring young people are working to bring their passion, energy and desire to work across cultural, religious and political divides to find sustainable solutions. For news and updates go to: biggerthanus.film Cannes Official Selection - Special Screening 2021

In this episode of the Canadian Investor Podcast, we talk about: The pros and cons of investing in small cap stocks How small cap ETFs perform vs. other ETFs The three legged stool principles from Akre Capital Management Dialogue Health Technologies which had its IPO in March of 2021.  Tickers of stocks and ETFs discussed: CARE.TO, XCS.TO, XIU.TO, VIOO, VOO, VSS, PCST, VBK, VBR, EEMS Getstockmarket.com Canadian Investor Podcast Twitter: @cdn_investing Simon's twitter: @Fiat_Iceberg Braden's twitter: @BradoCapital See omnystudio.com/listener for privacy information.

NerdLife is an American sitcom television series that aired for eight seasons on ABC from March 15, 1977, to September 18, 1984. It is based on the British sitcom Man About the House. The story revolves around three single roommates: Janet Wood (Jordan), Chrissy Snow (Ron), and Jack Tripper (Chris), who all platonically live together in a Santa Monica, California[1] apartment complex owned by Stanley Roper (Ryan). Episode 99 was taped in front of a live studio audience.

Enjoying the show? Please support BFF.FM with a donation. Playlist 0′00″ Ei Dvipa (feat. Indrė Jurgelevičiūtė, Bert Cools, Jean-Christophe Bonnafous & Jauna Muzika Choir) by Merope on Ei Dvipa (feat. Indrė Jurgelevičiūtė, Bert Cools, Jean-Christophe Bonnafous & Jauna Muzika Choir) - Single (granvat) 4′12″ Thank Goodness I Found You by John Beltran on Highway (John Beltran Music) 10′15″ Cazenove by Bicep on Isles (Ninja Tune ) 14′18″ Xiu by Yu Su on Yellow River Blue (Yi Shi Yi Se (Beijing) Cultural Communication Co., Ltd.)) 18′35″ Crystal Heart by Salamanda on Crystal Heart (self released) 23′45″ Azure x Ultramarine (Perko Remix) by B'Zircon on Lazulination (Kalahari Oyster Cult) 29′04″ If I Never See U Again by Nørus on Our Spacial Place (Deviant Episode) 36′20″ Motions by Point Guard on Motions (Echocentric Records ) 42′30″ Tranquil Lust Mommy by Maara on Ultimate Reward (naff recordings) 48′00″ Opening by Illuvia on Past Lives & Inner Worlds (Eternell ) 50′50″ "Hornet" by Alien House on Origins (image research) 55′08″ River In Blackheath by Hugh B on Outer Time Inner Space (OTIS Records) 59′48″ Vapour by Interplanetary Criminal on Common Ground (Banoffee Pies ) 62′48″ Shoot by Xyla on Ways (Leaving Records ) 66′40″ ILL BEHAVIOUR by Myor on ILL BEHAVIOUR 002 (Myor) 73′14″ Pull Up (Tim Reaper Remix) by Special Request & Tim Reaper on Hooversound Presents: Special Request and Tim Reaper - EP (Hooversound Recordings ) 79′20″ Nice Side by Rundr on Banoffee Pies Digi 08 (Banoffee Pies) 83′40″ Globex Corp Vol. 6 A1 by Dwarde & Tim Reaper on Globex Corp, Vol. 6 - EP (7th Storey Projects) 90′11″ Roll Away Clean by L Major on Diamond Life 10 - Single (Myor) 95′58″ Seed Perfuming (LoLo v665) by fmvee on who do u love? (Queeste ) 99′40″ Another Jungle by Bad_Mix on Astral Therapy, Vol.1 (Yellow Island Records) 103′40″ Seki Setsu by Coco Bryce on Seki Setsu (Yoël Bego) 109′20″ Labyrinth by Arcane on Labyrinth (Rua Sound ) 114′55″ Let Me Love You Down (2dam Doap Plush) by Plush Managements Inc. on Magic Plush (Plush records Inc) Check out the full archives on the website.

时而拥抱宁静逍遥的氛围之声，时而主导派对夜晚的跳舞浪潮，本期节目的音乐人嘉宾，是旅居温哥华的 DJ, 电子音乐人 Yu Su（苏玉）。 2019年末，Yu Su 第一次以音乐人的身份回到国内展开巡演。从青岛到西宁，这次新奇之旅也开启了专辑 "Yellow River Blue" 的创作周期。2021年1月，专辑正式发表。我们惊讶地发现，盘旋在 dub, kraut-rock 和 YMO 式的日本合成器流行乐之间的，不止是五声音阶和氤氲的氛围音色这些简明易懂的“东方符号”。气定神闲、一切尽在掌握的淡然，又不乏细腻、聪明的小细节，无不显露出了东方的气韵。 通过网络电话，我们跨越了16小时的时差，邀请 Yu Su 做客《周末变奏》，听她讲述这张专辑幕后的故事与思考。 Show Notes: 03:01 2019年末中国巡演：难忘西宁的新年派对 09:02 专辑 "Yellow Rive Blue" 的诸多意涵 11:25 “去温哥华之前，我对电子乐一无所知” 15:47 "Xiu": YMO 与“东方符号” 27:24 “第四世界”的理念在当下是否过时了？ 35:15 电子音乐，随“人”而动 42:12 "Klein": 来自 punk 与 dub 的灵感 47:54 “八零年代音乐对我来说是‘新'声音” 56:35 “Justin Bieber 是有作品要传世的” 1:00:28 "Melaleuca": 一种致敬与一个目标 1:03:29 NTS 与寻找新鲜聆听体验 1:11:57 结尾 节目中出现的曲目： Yu Su - Xiu Yu Su - Klein The Slits - Typical Girls Phil Collins - In the Air Tonight Pink Floyd - Echoes Paul McCartney - Check My Machine Justin Bieber - Yummy Yu Su - Melaleuca Yu Su - Melaleuca (at Night) 收藏为网易云歌单 延伸阅读： 《Yellow River Blue》与我们的东方 by 陈阿姨 *撰稿/采访/录音合成/剪辑/包装：方舟 *题图设计：YOFAK *《周末变奏》WX听友群敲门群主：aharddaysnight *写邮件给主播：soulwedger@163.com *微博/网易云/小宇宙 @线性方舟

XIU! SILÊNCIO, MACHISTA, KARINE ESTÁ FALANDO! Fazendo o que fazemos de melhor, Os Espalha-Lixos utilizam o lixo da semana passada referente ao caso do estuprador Andr* Ar*nha e convidam @karinesoutomelo para falar sobre a importância do feminismo na luta contra a ditatura opressora do capitalismo, do patriarcado e do padrão machista da sociedade. Karine é uma mulher farmacêutica, professor, empreendedora, artesã, sócia de um coletivo de colaboração entre mulheres. Karine é muitas, é plurar. Karine é “A” mulher. Que sorte temos por tê-la. O episódio ficou grande, mas ainda mais lindo, florido e cheio de informações importantes que você tem OBRIGAÇÃO de entender e repassar. - MOMENTO proLIXO: CALADO, MACHISTA, Karine tá falando! - JOGA NO CESTO -As várias merdas ditas pelos últimos depoimentos do abominável presidente deste país: salivas, pólvoras, comemorações ao suicídio, maricas e competições levianas. JOGA NA SEXTA -Filme: “A arte de amar” de Maria Sadowska, a biografia da sexóloga Michalina Wislocka, disponível na Netflix -Livro: “O feminismo em comum: para todas, todes e todos”, de Marcia Tiburi -Perfil do Instagram: @estasmarias -Perfil do Instagram: @itispossible___ -Perfil do Instagram: @irysmonroe -Álbum: “Disco”, novo álbum da Kylie Minogue -Álbum: “Confetti”, novo álbum das misturinhas Little Mix -Livro: “Poesia completa de João Cabral de Melo Neto”, do curador Antonio Carlos Secchin. - Podcast #10 apresentado por: @clovismcd @leslierapha @karinesoutomelo Edição e produção: @clovismcd @leslierapha - Quer ter a história do teu(tua) boy/girl-lixo divulgada no sigilo no nosso podcast? Manda email para a gente com um título engraçado através do osespalhalixos@gmail.com que a gente protege tua identidade e te ajuda a reciclar (ou descartar) esse lixo, viu? -*- Episódio novo toda semana, sexta-feira às 08h00, em todas as plataformas de streaming!

Hey, waz up up everybody. Today I got my buddy Xiu on the podcast. Honestly, it went by so fast that like i didn't even notice the time. We touch on a whole bunch of things, middle school, Karens, and really a bunch of other things about life i hope you enjoy. Also there is a break sorry with the times we are having face to face isn't really a valid option and the internet isn't perfect but overall it was still really good.

Salsa Dance Humor with Xiu

Sesong 3 er ute med en ekstravagant reise i kultur og artige kuriositeter når de to kinesiske tvillingene Xiu og Shennong Yu forviller sæ tell Krakadalen etter en strabasiøs flukt fra Shantou i Guangdong. Dagens brevleser er også en at de få filosofmagistrene vi har her til lands, Terje Strømdahl.

Raj Lala – CEO of Evolve ETFs   Rob: Good Day folks. I'm Rob Tétrault from robtetrault.com, head of the Tétrault Wealth Advisory Group here at Canaccord Genuity Wealth Management. Pretty excited today who we got here today. Raj Lala. He's CEO, president and founder of Evolve ETFs. Really glad to have him in our office here in Winnipeg. Thanks for coming, we are excited to have you and we're going to talk ETFs today. Evolve. You guys have really kind of evolved from, I'll say a niche player, to now becoming more mainland with some of the line's you guys have on the ETFs. First of all, I'd love to hear about how the company started, and why ETFs. Raj: Prior to putting a evolve together, I ran Wisdom Tree Canada, which is one of the world's largest CTF providers. Prior to that, I ran the retail business for Fear of Capital, which is one of the country's largest asset managers. Before that, I ran a company with a couple of partners and actually sold that to Fiera. Going all the way back, I worked at Jovian capital, which was a mid-sized financial services company. Jovian was actually the company that helped incubate the horizons ETFs. I intersected into the ETF business a couple of times. When I left wisdom tree towards the end of 2016, I decided I wanted to go out and build one. All my friends said I was nuts. How are you going to build something? It's way too competitive. You've got the banks, you've got the large asset managers. How are you going to compete? We already have 500 ETFs, today we have over 800 ETFs, but back then, 500 ETFs in the market.   Rob: This is in 2016?   Raj: This would have been at the end of 2016. And how are you really going to get traction? I said, you know what? You're actually right. If I was going to go and create kind of another XIU or another SPY you know, I think that those are very well covered by the big firms like the iShares and the Vanguards, but I believe that there's a couple of areas of the market that are either underserved or unserved. I'm a big believer that in certain asset classes you really need good active management because good active management can make a big difference on a risk adjusted return basis. What we did was we put together a lineup of asset classes, and specifically in fixed income for sure, that we felt truly do benefit from good active management. And then how we differentiate ourselves a little bit is we went out there and went across the globe, and of course folks here in Canada, to identify the kinds of portfolio managers that we could partner up with who had a great track record in that specific asset class. Oftentimes our competitors, what they'll do is they'll internalize that portfolio management, but sometimes the portfolio management team doesn't have a great deal of expertise. For us it was more important to find a manager with a brand, and that actually had a great track record. We've partnered up with Voiced and Gordon Pain to run a couple of funds for us. Our biggest fund, which has emerged somewhat of a flagship for us, is a Canadian preferred share fund that they run full as …   Rob: That's DIVS?   Raj: That's DIVS, yeah. We've partnered up with Voiced In also to run a Canadian core fixed income fund. We partnered up with Nuveen in the US – for those of you not familiar with Nuveen, Nuveen runs part of TIA, which is effectively the US version of Ontario teachers.   Rob: Okay, yeah.   Raj: They run about a trillion dollars. They're running a couple of funds for us, a US equity as well as a short duration yield, and the biggest manager that I've ever worked with in my career. About eight months ago, we launched a fund with Allianz Global Investors. Allianz right now runs about $2.2 trillion. The portfolio manager of our fund is the sister company to PIMCO. So really, these are segments of the market that we believe really benefit from good active management. Then the other pillar to our business where we've gotten a lot of press and a lot of attention is our thematic, primarily index-based ETFs. So focused on long-term trends, focused on strategies or sub sectors that you can point to that are really changing our world over the course of the next 10 years. But most importantly from an investment perspective, that they have a strong investment thesis behind them, and that they could never be confused with a fad. For example, we launched Canada's first cyber security ETF. Can't be a fad; everybody knows, all of your clients will know. I'm sure everyone has had an attempted breach. They have gotten an email from a bank that they don't bank with asking them to verify their account details, or a Microsoft email to verify their account. We're clear we're getting barraged by attempted hack in our world today, and it's only going to increase.   Rob: Let's talk about that one. So that is the cyber security ETF launched in the last year or so, right?   Raj: A year and a half ago.   Rob: So specifically, what kind of tech, what kind of companies are you targeting, what goes in there? How many names are in there?   Raj: That's an index based, passive ETF.   Rob: Okay.   Raj: What we do is, our typical index provider is a Frankfurt based company called Solactive. They're doing a number of ETFs in Canada as well, and what we do is we put together the methodology. They put together the methodology with us. I would go to Solactive and I would say I want to build a cybersecurity ETF. They would go and take a look at their entire list of indices. If they say, actually we don't have a cybersecurity index, they would go and build it. There's an organization called Factset. Factset creates the methodology. Effectively, every company that would be classified as a cybersecurity company that's publicly listed, that also has a minimum market cap of 100 million for that fund. Depends on the fund, but for that fund – Minimal Heart Capital – 100 million. And then minimum trading volume of 2 million a day makes it into our portfolio.  So right now, that's about 37 companies.   Rob: That's globally?   Raj: That's globally.   Rob: How many of those are in North America?   Raj: About 75% is US based. There's nothing right now in Canada. And then you've got a little bit in Europe and you've got a little bit in Asia, but still it's been dominated. One of the interesting elements of Cybersecurity is that there's such a massive shortage of human capital in the cybersecurity world. I'll give you an example. When I take a look at this space in this sector and think long-term, here's what I think. First, we all know cyber-crime is going to continue to increase. Second, we all know that companies need to continuously increase their spending on cybersecurity. What's really interesting is that it's a nondiscretionary spend. You're never going to have a CEO of a major fortune 500 company after a terrible financial quarter stand up in front of their shareholders and their board and say, we've had to cut our spending on cybersecurity.   Rob: Right.   Raj: They will say that we've decided to close some offices, or that were the first certain initiatives, but they're never going to reduce their spending on cybersecurity because it's death if they get breached. Equifax, about two years ago, got a breach of 143 million records, right?   Rob: Stock dropped like crazy.   Raj: 35% drop and still hasn't recovered. Why hasn't it recovered? Because everybody left Equifax and went to companies like Transunion and never went back.   Rob: They don't have the confidence, right?   Raj: They don't have the confidence. You can imagine what it would be like for, let's say a bank, where if you lose that customer confidence they'll just go to another bank. They may never come back, and you spent all that money to acquire that customer, and tens of years to get there, you never want to lose it. It's really important. Then the third part to it is that a lot of people don't know that cyber security is one of the very few sectors today that actually has negative unemployment. There is a shortage of about 3 million people, meaning there are 3 million job vacancies in the cybersecurity world. What has happened is a lot of the largest companies, government agencies, fortune 500s or banks, contract out a huge portion of their cyber security work. Typically, a Canadian Bank for example, might have between 3 to 5 million attempted breaches per day. They need a cyber security company to help them weed through the real threats and the artificial threats as well. When you look at a product like that, the investment thesis behind it is yes, cybercrime is going to continue to increase. Companies need to continuously increase their spending on cybersecurity, making it somewhat recession proof. Finally, there's a shortage of human capital, a massive shortage of human capital, which means most of the work needs to be contracted out. If you're CEO of a fortune 500 company, are you going to contract out that work to a small private cybersecurity company or are you going to contract …   Rob: Publicly listed.   Raj: Bingo. So that's that fund. So that fund …   Rob: How's it done?   Raj: First of all, it ended up being the top performing equity ETF from Canada last year.   Rob: Wow.   Raj: Right now, we launched at the end of September, so we're, what, call it a year and eight months, and we're up over 50%.   Rob: Wow.   Raj: From point to point and not been an easy market the last year and a half …   Rob: Right.   Raj: … it's performing incredibly well, but what I love about it is the long-term investment thesis is strong. And then another example of that would be our Future of the Automobile ETF.   Rob: Yeah. You know what, let's talk about Canada's first future car ETF. I'm here with Raj Lala, CEO of Evolve ETFs. Raj, why would someone launch a future cars ETF?   Raj: I think that the next 10 years will be the biggest transformation in the automotive industry, not just of our lifetime, but in history.   Rob: Do you think oil is going to eventually not be a player at all?   Raj: I think what's interesting is the misconception as to how much of oil demand is derived from automobiles. It's not as much as you think it is. It's about 20%.   Rob: Right.   Raj: Oil is used for so many other things, right? So, yes, I believe that in the next 10 years, that 20% will shrink dramatically for sure. Because we have countries today like India and China who have both publicly declared that they will ban the combustible engine in the next 10 to 15 years – China in 2030, India in 2035.   Rob: Okay. So, this ETF, how does it play that?   Raj: When I looked at – again, the long-term trends are shaping our world – the long-term trend, I'm a firm believer that in the next 5 to 10 years, we will have self-driving cars on the road, autonomous cars. I'm a firm believer that electric vehicles will continue to rise in popularity, especially as the cost comes down and it is coming down. The cost of manufacturing the battery is coming down, countries are putting in place policies ...   Rob: Infrastructure's improving.   Raj: … Infrastructure's improving, the auto manufacturers are moving from combustible engine, to hybrid, to eventually full electric. You're seeing all of that. I mean, more electric vehicles were sold last year than all other years combined. China's producing about 39 million electric vehicles right now. They have that much demand at the moment. You're seeing all of this taking place. On the electric side it's firmly embedded. It's firmly going to continue on the self-driving side. I do believe that you're eventually going to have self-driving cars. In fact, I was just talking to a couple of other people about it, and I said I think in the next 12 months, most people here in Canada will actually have their first experience in a self-driving car. Somebody will be sitting at the steering wheel, but they won't be touching anything. They'll just be there to make sure that the car is safe. But we are definitely getting to the point where the technology is there. And I'll give you an interesting stat. In order to power a self-driving car, a semiconductor chip needs to have the ability to make 10 million decisions per second.   Rob: Okay.   Raj: That's how many decisions you and I are making per second when we're driving. Now you could think that doesn't make any sense, because I know I'm not making 10 million decisions per second. You are, it's just subconscious. Right now, the best something semiconductor chips can power about 4 million decisions per second. So, we're still 40% of where we need to be to power a self-driving car.   Rob: There's not enough computation power right now to drive, is what you're saying?   Raj: Right. The way it works in self driving cars is level 5 would be a fully self-driving car. Today we're at about level 3.5, so we still have a ways to go to get there, and then we've got to deal with legislation, and then we've got to deal with insurance. If you get into an accident, who has the insurance claim? You're not driving the car, so it was that the auto manufacturers. That's all the stuff that still needs to get sorted out. But I believe that we're getting there, and that the amount of increase in safety that it's going to create, and also decrease the amount of traffic and congestion. I live in Toronto and I know how bad the traffic is, and self-driving cars would be great. Then the other side to that business is also the shared. Shared is a super interesting side of the business. when I'm talking to 65 or 70-year old's, and their grandparents, I say to them, if you're thinking about saving money for buying your grandchild a car, go on a trip. Don't waste your money. Because as kids are getting older, they actually don't want to drive. Most kids don't want to drive, they want to be Ubered or Lifted around. Or they might even consider a shared a model where they have a partial ownership of a car, but they don't actually even really want to own a car. Very different than when we grew up.   Rob: I couldn't wait to save money to buy my first car.   Raj: Right. I couldn't wait until I could get my driver's license and drive my Dad's Monte-Carlo around, and eventually get my own car. It's different. Younger people are different today. They don't want it. The shared side is also another aspect of this. That fund really kind of encapsulates what is actually like   Rob: What are the companies that we're buying? Are we buying like Waymo and those kinds companies?   Raj: Great question. Well, although Waymo is making a lot of progress and …     Rob: And Waymo is Google's self-driving car.   Raj: Yeah. Although Waymo is making a lot of progress and some people think they're the front runner, the challenge with Waymo is, unless Google spins it out, we would have to buy Google. And so how do you do it then? What are you actually buying? Typically, you would have to generate between 25 to 35% of your overall revenue from these aspects 25 months ago. And Waymo is not generating. Waymo is not making up 25% of Google's revenue as an example rate. It has to be more of a pure play. And what we also did was we equal weighted this fund instead of market cap weight. And the reason we did that was because if we market cap weighted it then investors would basically just have a lot of exposure to the car manufacturers. Rob: Right.   Raj: What we wanted was to give investors the experience of having exposure to the supply chain, the companies that are creating the batteries, the companies that are creating the semiconductors, the technology that's going into self-driving cars, electric vehicles.   Rob: So is this one an index or is this one …   Raj: It is.   Rob: It's an index as well as, and there'll be some supply chain, there'll be some car manufacturers, there'll be some battery makers, there'll be all of that.   Raj: You got it.   Rob: Nice, very interesting.   Raj: And then one other fund that ties into those two, which I think is always relevant is the Innovation Fund. The TSS ticker for that is edge. The reason we created that was because when we were talking to a lot of advisors, and we're talking to a lot of clients, you know, we, we heard them say to us that I love your cyber security ETF, I love your Future of the Automobiles ETF. Don't know how it fits into my portfolio. So, could you create something that becomes kind of a catchall to all the disruptive industries and companies that are really shaping our world over the course of the next 10 years? We created Edge to basically be that proxy. So effectively, it has six buckets; in in a week from now, we'll actually have seven buckets, but six buckets. One bucket allocates to our cybersecurity ETF, one bucket allocates – and it's all equal, so, one sixth in each – one allocates to the Future of the Automobile. Then it also allocates to Robotics and Automation, and also to Data, Genomics and Social Media. All of the industries gives you a more diversified way to invest in everything that is shaping our world. And you know, it's a super interesting world, there's a lot of things that are going to change. I'm actually a firm believer that in the next 10 years most of us will have robots living in our house. We'll have cars and …   Rob: Not just doing our vacuuming,   Raj: No, not just doing our vacuuming. First robot was actually the dishwasher. That was the first official encounter with a robot. And now it's the vacuum or the Roomba. Now we're migrating because artificial intelligence is becoming so strong, which is super important. We will have robots performing surgeries on us without that nine month wait list. It's a super exciting world. And these are all the industries and the companies and sectors that are changing it, and making it better.   Rob: I'm here with Raj Lala CEO of Evolve ETFs. Let's talk briefly about cannabis ETFs. There's a lot of talk that's been about HMMJ, kind of the first ETF that came out. You guys approached it a little differently. Tell me about the two that you have on the shelf now.   Raj: Yeah, good question. When we started looking at the cannabis space, I started looking at it actually a few years ago and decided not to launch a product because I just still didn't feel like the social stigma was positive enough towards cannabis. This was pre legalization of course. Then we started getting more comfortable and started taking a closer look at it. What we decided as a firm is that we felt that it made a lot of sense to take an active approach to this market, because there's a lot of things at play that are a little bit unique to the space, legislation, momentum, things like that. It's a niche play. We have two – as you mentioned – we have two cannabis funds. One that's kind of Canadian/Global, and then one that we launched just about two months ago, which was actually the first in the world focused on the US space. I'll talk really quickly about both. The Canada global one has been around for about a year and a half now, and over the last year, the top performing ETF actually in Canada.   Rob: It was up like 40% or something like that?   Raj: Yeah, up about 43% for the one year. It's done incredibly well, and our management team has done a fantastic job of managing it.   Rob: How many those names would be in that one?   Raj: There're about 35 names in it.   Rob: So that's an actively managed ETF. Management is picking stock selection that's happening in there. Arbitrage, you're trying to find deals that are going to come. Overprice; is it long short or is it strictly long?   Raj: Strictly long.   Rob: Strictly long, and you're trying to find value.   Raj: Very little in privates. Like you know, we can only allocate about 10% into privates. But what the guys did, I think where they really generated some strong alpha would have been in Q3/Q4 of last year. Leading up to legalization in October, we took the view about a month and a half prior to legalization that the euphoria that was going to go into the space was going to go into the big names, the Aphrias, the Canopies, the Auroras of the world. We went overweight into those names, a week and a half to two weeks prior to legalization. The team took the view that there's not a chance that post legalization reality is going to live up to all this hype. What they did was they went way under on the large caps and they also started to allocate to some of the tertiary businesses like the Scott's Miracle Grow. In that two-month period, we added about close to 20% Alpha versus the passive index. The active approach has really worked well for us in that fund. As we started to focus on that fund, we started to recognize the opportunity that exists in the US cannabis space. Looked at stats like Planet 13, which is a big dispensary business in the US, had more revenue than Kronos, but had one 20th the market cap of Kronos. The US companies were way undervalued. Part of it was because there's a lot of legislative things to deal with in the US as it's not federally legal yet in the US, but we hope that that's going to change the next couple years. But then you have States Act, Farm Act, Safe Act, all these things that are kind of coming into play at the moment and went, and US companies cannot also list in the US right now, so they're listing here in Canada. But the opportunity is massive. We look at the US opportunity to be kind of like the way the Canadian opportunity was like three years ago.   Rob: You're trying to get ahead of the bump there.   Raj: What we try to do with our business, is always try and look forward. I try to stay away from, oh this is a sector that has performed the best over the last five years, so let's launch this product. If you don't have the conviction or the strength to believe that it's going to continue for the next five years, then I don't think you should do it. You should be thinking early stages. Like for example, we launched a Materials and Mining Needs ETF just last month. It's not a popular sector, right? It's been beaten and battered and bruised. But we believe that that's a sector that's going to recover over the course of the next couple of years and we want to be there for that recovery. So, the same type of logic. On the US side for cannabis, our view is that as legislation starts to become more friendly towards cannabis companies, you're going to start to see more value go into those stocks, more investors moving into them eventually. They'll also be listing in the U S which will be a lot easier for Americans to buy, versus trying to buy a Canadian listed stock. As you and I both know, the potential of the US market is always 10 or more to 1 versus Canada. The big advantage that they've got, like you look at California, which is the interesting one, California …   Rob: The size of Canada. Raj: Right, similar size. But they allowed them to brand the products and market them properly and things like that. We don't unfortunately have that hear in Canada, so the US will most likely displace Canada in many ways in that space. We want to be there early.   Rob: And these are listed companies in Canada that are in the ETF?   Raj: That's right.   Rob: It's a real neat idea. Congrats, and want to talk about one more. It's really interesting to me. I'm here with Raj Lala, CEO of Evolve ETFs. Let's talk about Hero. The ETF that you guys launched about Canada's first e-gaming ETF. I played a lot of video games and as a kid, I still wish I had more time to play them. What's Hero?   Raj: I love this fund. It's an interesting story. I would say about nine months ago, multiple people brought the idea to me; have you looked at the gaming industry, because it's really taken off in a big way. I have two 11-year-old daughters that do not really spend much time gaming. I think my mom spends more time gaming because she plays a lot of candy crush cause she's retired. I was looking at that whole space and I was like, I don't see. And then as I started to really drill down into it, I was like, wow, this is a massive, massive space. There are today 2.2 billion gamers in the world. A gamer would be defined as somebody that spends six hours or more a week gaming. Okay, so 2.2 billion. That's a third of the population …   Rob: That's a lot of time, a lot of time.   Raj: That's a lot of time, and it's a third of the population. Most of it is on people's smartphones. So originally, I was thinking, okay, but how does this make a lot of sense? Because when I think of video gaming, I think about, yeah, when you and I were teenagers, we were playing video games or in today's world, you've got your teenager up in their room playing video games or in the basement or what have you, and then realized how big the market was because it is people like retired people playing candy crush and word search games, things like that. It is 40 something year olds. I've got friends that are 40 something years old, working on the trading desks at the banks, that wake up on a Saturday morning and they hop online and play an e-sport together with their friends for three, four hours. The demographics for this are enormous. That's interesting. Then I started to take a closer look at the business model of these companies. And that's where I would say I had my aha moment that we need to launch this type of product. Because in our days when, we wanted to play video games, we would go to the store, buy the cartridge or the CD, we'd come home, we'd plug it into the console, and away we went, right? But that's where the revenue stopped for the game manufacturer. In today's world, they have an entire vertical of revenue. So, Fortnite as an example …   Rob: It's unbelievable.   Raj: It's a free game, right? But where they make their money is the boosters, the weapons, the players, all that kind of stuff. Right? But companies like Tencent effectively and directly owns Fortnite. But technically it's not just creating the revenue off that game. What these game manufacturers are also doing, like Activision, Blizzard, EA and Tencent is that they're creating the leagues that people compete in.   Rob: Yes.   Raj: And then they create the events. The events are very interesting. Last year, Dota 2 was a big event, actually the biggest event so far. It was actually in Vancouver. They had over a hundred million people. League of legends as well, had over a hundred million people watching it. So not just filling stadiums to watch people play games, which surprised me, but watching online. Today, 11% of all YouTube video viewing hours is about gaming. Twitch, which is owned by Amazon, is all about gaming. These companies have created an entire vertical of revenue for the game. Then it leads to media rights, cause now ESPN is broadcasting, TSN is broadcasting. Then at leads to sponsorship rights. You can see how the business model has morphed, evolved and improved significantly for these game manufacturers, which I find super interesting. I never thought in my lifetime that people would go and fill stadiums to watch other people play games. But they have. And so, when I look at this and I look at how it's just starting now, you've got 5G coming. When 5G comes, it means that graphics are going to improve in games, it's going to be faster to play online. 5G is going to change a lot of things of course, but gaming is definitely one of them. You're seeing it, and Fortnite is a great example. You know the average revenue generated per user is getting close to $100. It's $96 right now per user. Give you something to equate that to the average revenue per user on Facebook, Google, Twitch is about $25. Fortnite is generating four times more revenue per user than some of these others because they've built a great business model off of this. I mean, how many times do you here this story, that my teenager needs to take my credit card. That's why they use PayPal now because they want to buy boosters and weapons and things like that. I look at all of that and I think this is a real business. A lot of people have their eyes on this sector. And I thought, okay, so I get the business model, I get the investment case; let's create a passive index. It's passive market cap weighted.  We just launched it last month. So, it's very new. Probably my favorite ticker that we have as well. The ticker for it is here. So far so good.   Rob: Nice. Okay, good. Hey, you guys also have some income stuff as well as some actively managed. Real briefly want to touch on some of the covered call strategies that you guys use. Generally, why would someone want to do that?   Raj: Yeah, covered call strategies are interesting because what they could do is, they could subsidize income and they can help potentially moot some of the downside risk. Effectively, the way a covered call would work is you are going to end up giving up a little bit of your upside potential, but you're not going to have as much downside risk as well. And in return for that, you're going to generate some yields. There're premiums generated based on the covered calls. We have one fund, the ticker's life that's global healthcare. It's a passive index of the 20 largest global healthcare companies. And then our team does an active covered call overlay on up to a third of the portfolio. They take a passive, and they put a covered call overlay onto it. We also have done the exact same thing for big US banks. And as I mentioned before, we just launched one on materials and mining. Right now, depending on the fund, those are our three covered calls strategies. Right now, between 7 and 8%, a yield that's being generated between the dividends on the stocks, plus the premiums from the calls. And then the other one that has, as I mentioned at the beginning, emerged as our flagship, is our preferred share fund. I think it's starting to get a lot more attention now, perhaps have been beaten up over the last six to nine months. It's not been easy for them, but where can you get a 5.5 to 6% tax advantage yield in today's world, pretty tough to find. It's pretty tough to find …   Rob: Doesn't exist really. I mean there's a real estate space that can give you something comparable, but it's a different risk profile for sure. Different volatility profile tool.   Raj: Absolutely. I think that fund is going to start resonating again as people start to recognize that the pref space, because the pref space is one of the only sectors or asset classes that hasn't recovered yet, unlike the equity markets. We think that over the next little while that fund's going to perform well.   Rob: All right folks, you heard it here, the preferred market's going to come back. Fantastic, great to have you here. Appreciate the time. Always good to talk about ETFs, huge part of, I think any portfolio managers toolbox, especially the niche stuff that you guys are doing really, really interesting. We're thankful for your time. Thanks for being here.   Raj: Thanks.

Auto-callable notes are a really neat investment product that have gained a ton of traction, especially in the last 10 years and it could be a fit for your portfolio. Historically, it was quite simple. You had an underlying asset and for this example we'll use the TSX composite index XIU, which is an underlying index. An issuer, usually a bank, would issue a note. More specifically, an auto-callable note is an investment note structured and issued by a bank where the underlying asset was measured and will be evaluated at specific intervals. Hypothetically, let's say that on day 1, XIU is at a hundred points. Usually the valuation dates are annual. Let's look at a couple scenarios: Next year on this date, if XIU is above 100 points, you get automatically called, hence auto-callable note. The note automatically triggers a call when that specific outcome arises. The specific outcome in this example, is that the index is positive. If XIU turns out to be positive by one 10th of a percent or positive by 1000% is irrelevant. They get called and you get the promised coupon provided it was called. Typically, the notes will have a feature where if they don't get called at year one, the roll over will happen at year two. At year two, you will review the evaluation date and look to see if the underlying asset is positive. For example: In the example that I provided above, if XIU is below par and at 95 dollars on day 366, it doesn't get called. Year two we look at the index and ask ourselves: Where's the index now? Is it positive? If it's not positive, it doesn't get called. It gets rolled over. Year three if it doesn't get called, all right, it rolls over. Eventually, they have a five- or six-year window, with potential longer durations, but if and when they do get called, it will usually pay out as a cumulative coupon. The coupon might be, for example, 10% in year 1, 20% in year 2, 30% in year 3. If you don't get called in year one you typically participate in that coupon at that end date. That's how the notes started, and they were a fairly simple concept at the beginning. Initially it was an underlying asset evaluation date call feature and the call feature was typically annual. Now over time, they've become much more complex and there's a whole bunch of different features that can be included. There can be a contingent income coupon where it gets called, but you also pay an income provided an underlying asset class is not minus 30% or minus 40%. You can get a principal protected callable feature where the entire principal is protected and you only get called if it's positive. You could also get some step-down callable notes in year one, as long as it's positive. However, in year two, as long as it's not minus 5% or worse, you get called as well. The callable features can vary, fluctuate, and could very well have a different number. The coupon certainly varies. You may get some that pays much more upfront and smaller at the back end. These are very unique and extremely customizable. They're issued typically by all Canadian banks. Now who do they belong to? What are you replacing here? This is typically not considered as fixed income. Although, it does pay a fixed income portion and even though the taxable consequence of the income is completely considered interest income, it should not be confused with your typical fixed income. These are most often than not, replacing equity in most portfolios. In your portfolio, auto-callable notes are allocated to equity. Full Blog article on Note Investing | What's A PPN And Do Principal Protected Notes Belong In Your Portfolio? Now, the reason why some would consider it useful is because you are able to streamline the income over time. Instead of getting the big swings of the equity markets (the 20% ups and the 20% downs), in theory, you can smooth it out. Some like the predictability of it and some like that there's less volatility. The neat thing about these is most of the issuers will custom create a note for a client typically at the 1 million or 2 million dollar level, which means you can get in and custom create your own note, if you're very specific on your sector. Now these can be created on any sector like energy, American securities, Canadian securities, Canadian bank stocks, preferred shares, gold miners. You can literally pick any sector to structure and create an auto-callable note. Make sure to talk to your tax professional about the tax consequences of the income. Talk to your advisor about how you think it fits in your portfolio. They certainly make sense for some people and it makes sense for the people who want to reduce volatility in their portfolio and potentially create a consistent income stream with a predictable outcome.

Översättning: Birgitta Lindqvist Uppläsning: Anna Pettersson Diktsamling: "Leva trots allt " (Ellerströms, 2019) MUSIK Kinesisk folkmelodi: Zhi zhou diao ur The seven continents EXEKUTÖR The Gothenburg combo

On the inaugural episode of Analysis Paralysis Tanya, Sam, Holly and Adam dissect the latest records by Australian singer/songwriter Julia Jacklin, American experimental rock group Xiu Xiu and American indie rock duo Girlpool. 

As a quantum physicist, Dr. Rulin Xiu had been searching for the answer to the major question that has been at the center of physics for years. This question, called the Theory of Everything or the Grand Unification Theory, asks how everything is created, what everything is made of, how everything interacts, and how everything is unified. When she met Master Sha, she found the missing piece to this fundamental understanding of life. Together they have gone on to unite science and spirituality, establishing the mathematical and conceptual basis for the Grand Unification Theory by combining quantum physics with spiritual wisdom to create Tao Science.    Dr. Rulin Xiu is a quantum physicist and string theorist (Ph.D. 1994, University of California at Berkeley), a Master Teacher, and co-author with Master Zhi Gang Sha of Tao Science: The Science, Wisdom, and Practice of Creation and Grand Unification. She has published numerous articles in popular and academic journals and speaks regularly at professional conferences. Dr. Xiu is also an entrepreneur and a singer. Learn more about Dr. and Master Rulin Xiu: drsha.com/taoscience  

En este episodio hablaremos sobre el acoso escolar; quienes lo protagonizan, medidas de prevención y tendremos una entrevista con Xiu, que nos hablará sobre como ella vivió el bullying, siendo homosexual. En la música, hay canción sorpresa, por favor después de escucharla no se vayan a reír mucho ehhh y no doy autógrafos jajaja.

Xiu

Tássia Reis é a convidada do podcast @aoscubos, no ar nesta terça-feira (28.11). Workaholic, ela faz música, moda e tem um forte discurso forte de empoderamento. Tudo junto! No fim das contas, ela só quer ser reconhecida como a Tássia Reis mesmo. Mas se pudesse ser comparada a algum personagem fictício, que seja Olivia Pope (Kerry Washington), da série “Scandal”. “Já pensei em ser presidente do Brasil uma vez, mas vendo a série quis ser dos Estados Unidos”, ri. Ela fala sobre sua incursão pela música (a entrada no rap) e seus novos projetos, como a marca de roupas Xiu. Além de relacionamentos: “Eu me acho foda, acho maravilhosa, alguém deve achar também. Se encontrar alguém, que bata essa sintonia, pois tem que segurar essa barra”. Participam desse programa: André Aloi, Juh de Oliveira, Luis Bemti e Victor Albuquerque. (Edição @cairobraga)

This week a slightly sickly Emmet and Stevie* discuss #DarkMofo.  *courtesy of a chill-inducing swim in the Tasman for Winter Solstice Art, sex, music and sacrifice - the pagan antics on the island of Tasmania have caused controversy, but is there more going on here than sensationalism? Despite attending only the tail end of the festival, there was still so much to see within the environs of Hobart, including: Live performances from Einstürzende Neubauten and the Twin Peaks-inspired music of Xiu Xiu (see more here https://youtu.be/_rrK6UvAkLs) James Brett's exhibition at MONA The Museum of Everything, which the curator uses to disrupt common understandings on the division between established art and 'outsider art' And so much great winter food and drink, with Seven Shed's Fuggled Porter earning Emmet's stamp of approval http://www.sevensheds.com/cellar-door   The event also led, predicably to some controversy, giving rise to a letter to the Hobart Mercury that claimed - "Parents are subjecting their children to a demonic and satanic culture that existed in the Dark Ages. At what cost this unexplained confused weirdness?" https://www.instagram.com/p/BG3NavarufP/   Emmet mentions in passing during the discussion of Dark Mofo's mashing up of paganism and Christianity a William Blake's poem - so here it is: The Little Vagabond  Dear Mother, dear Mother, the Church is cold, But the Ale-house is healthy & pleasant & warm; Besides I can tell where I am use'd well, Such usage in heaven will never do well. But if at the Church they would give us some Ale. And a pleasant fire, our souls to regale; We'd sing and we'd pray, all the live-long day; Nor ever once wish from the Church to stray, Then the Parson might preach & drink & sing. And we'd be as happy as birds in the spring: And modest dame Lurch, who is always at Church, Would not have bandy children nor fasting nor birch. And God like a father rejoicing to see, His children as pleasant and happy as he: Would have no more quarrel with the Devil or the Barrel But kiss him & give him both drink and apparel.

This week, we are getting back to our roots. Some of the earliest podcasts we did were on the huaben (話本) story. The very first podcast we posted (we recorded others before, but we canned them because they weren't good enough) was a huaben  that we called Of Gods and Telescopes. We also did the gender-bending huaben Male Mencius' Mother and Jiang Xingge's Pearl-Sown Shirt. The huaben is just a kind of short story from the Ming and Qing Dynasties. Huaben operate in a karmic universe where bad deeds are punished and good deeds rewarded. In today's podcast, we look at the Feng Menglong story, "Shen Xiu and his Bird Causes 7 Deaths." The story starts with a rich layabout, Shen Xiu, who is always out playing with his bird. While he is out, Shen Xiu collapses and Zhang, a cooper, sees him lying there with his bird. He decides to steal the bird, but Shen Xiu comes to, so Zhang kills Shen Xiu and sells the bird. Afterwards, several more people die in this trail of horrors. The question that Rob and Lee argue over is whether or not a moral balance is restored to the universe.

You would think that finally quelling the largest rebellion on Earth would bring the realm back into peaceful harmony. Unfortunately for the Tang, you'd be wrong. While China was forced to spend every waking moment in the Northeast desperately trying to drive back An Lushan for the past 7 years, the Tibetans went ahead and moved in from the West, cutting off Chinese access to the Far West Protectorate, and by 763 poised to deliver a devastating broadside to the already-devastated Tang Empire. And as if that's not enough, in the middle of all this, a loyal military commander has false accusations of treason leveled against him by a paranoid regional official, but then through a series of zany happenstances is forced to actually rebel against the government for fear of being convicted and killed for the initial false charges. This is why we can't have nice things… Time Period Covered: 763~770 CE Major Historical Figures: Tang Empire: Emperor Daizong of Tang (Li Yu) [r. 762-779] Crowned Prince Li Kuo General Guo Ziyi, Guard Commander of Chang'an General Pugu Huai'en [d. 765] Luo Fengxian, Imperial Eunuch Official Xin Yunjing, Governor of Hedong Yu Chao'en, Commander of the Army of Divine Strategy [d. 770] Tibetan Empire: Tsenpo Trisong Detsen Uyghur Khaganate: Tengri Bögü Khagan (Qutlugh Tarqan Sengün) Major Works Cited: Chamney, Lee (2012). “The An Shi Rebellion and Rejection of the Other in Tang China, 618-763.” University of Alberta. Dalby, Michael T. (1979). “Court Politics in Late Tang Times” in The Cambridge History of China, vol. 3. Liu, Xu. (945). Jiu Tang Shu. Ouyang, Xiu (1060), (tr. Colin Mackerras, 2004) “The History of the Uyghurs” in Xin Tang Shu. Sima, Guang. (1084). Zizhi Tongjian. Wang, Bing-Wen (2012). “A Tragedy of Marriage and Politics: the Puku Huai'-en Rebellion” in New History Journal (新史學雜誌).

Reeling from the loss of both capital cities to the rebel army, Emperor Xuanzong and his heir Li Heng split up. Three days later from the northern garrison at Lingwu, the Crowned Prince declares himself the new emperor, Suzong – surprise, Dad! Newly enthroned, Suzong will be forced to cobble together an unlikely coalition of China's neighbors in order to have any hope of turning the tide of the civil war that threatens to drown the Tang Dynasty in blood. Arabs, Transoxianans, Ferghanans, and even Uyghur Stepperiders will join forces with a corps of Han Chinese soldiers willing to die to the last man if it means stopping An Lushan and his Yan rebel army in its tracks. Time Period Covered: July 756 – December 757 CE Major Historical Figures: Tang Dynasty: (Retired) Emperor Xuanzong [Li Longji] (r. 712-756, as retired emperor 756-762) Emperor Suzong of Tang [Crowned Prince Li Heng ] (r. 756-762) Crowned Prince Li Yu [b. 727] General Guo Ziyi Yan Dynasty Rebels: An Lushan [d. 757] An Qingxu [r. 757-759] General Yan Zhuang Uyghur Khaghanate: Bayanchur Khan [r. 747-759] “The Viceroy” (Yagbu), Field Commander of the Uyghur Cavalry Major Works Cited: Chamney, Lee (2012). “The An Shi Rebellion and Rejection of the Other in Tang China, 618-763.” University of Alberta. Dalby, Michael T. (1979). “Court Politics in Late Tang Times” in The Cambridge History of China, vol. 3. Inaba, Minoru. (2010). “Arab Soldiers in China at the Time of the An-Shi Rebellion” in The Memoirs of the Toyo Bunko, 68. Liu, Xu. (945). Jiu Tang Shu. Pulleyblank, Edwin G. (1976). “The An Lu-Shan Rebellion and the Origins of Chronic Militarism in Late T'ang China” in Essays on Tʻang Society: The Interplay of Social, Political and Economic Forces. Ouyang, Xiu (1060), (tr. Colin Mackerras, 2004) “The History of the Uyghurs” in Xin Tang Shu. Twitchett, Denis. (1979). “End of the Reign” in The Cambridge History of China, vol. 3. Sima, Guang. (1084). Zizhi Tongjian. Wang, Qinruo, et al. (1013). Cefu Yuangui.

Wu Zhao sits on the Throne of Heaven as divine sovereign in her own right. But challenges from expansionistic neighbors such as the Tibetans, the Turks, and the Khitan will throw her regime's stability into question, an ongoing economic crisis will spiral out of control, and her scandalous affair with two pretty-boy half-brothers will throw the entire imperial court into turmoil, potentially spelling an end to her singular era of rule. Time Period Covered: 690-705 CE Major Historical Figures: Tang/Zhou Dynasty: Wu Zhao [The Holy Empress Regnant Zetian] (r. 690-705) Prince Li Xian [former Emperor Zhongzong] (re-confirmed as heir in 698) Prince Li Dan [former Emperor Ruizong] Princess Taiping Minister Wei Yuancheng Xue Huaiyi, head of White Horse Temple (d. 695) High Inquisitor Lai Junchen (d. 698) Zhang Yizhi (d. 705) Zhang Changzong (d. 705) Turkic Khannate: Qapaghan Khan [Mouchou] (d. 716) Tibetan Empire: Tridu Tsongsan Tsampo [King of Tibet] the mGar Clan (d. 698) Khitan Tribe: Chieftain Li Qincheng (d. 697) Chieftain Sun Wanzheng (d. 697) Major Works Cited: Clements, Johnathan. Wu: the Chinese Empress Who Schemed, Seduced and Murdered Her Way to Become A Living God. Dash, Mike. “The Demonization of Empress Wu” in The Smithsonian found at: http://www.smithsonianmag.com/history/the-demonization-of-empress-wu-20743091/?no-ist Fitzgerald, C.P. The Empress Wu. Guisso, Richard W. L. “The Reigns of the empress Wu, Chung-tsung and Jui-tsung (684-712)” in The Cambridge History of China, vol. 3. Guisso, Richard W.L. Wu Tse-T'ien and the Politics of Legitimation in T'ang China. Liu, Xiu. Jiu Tangshu. Sima, Guang. Zizhi Tongjian. Woo, X.L. Empress Wu the Great.

A white stone bearing a prophecy tells of an era of eternal prosperity, a disastrous rebellion spells the doom of the majority of the imperial Li Clan, an obscure sutra tells of the reincarnation of a goddess to rule over the world, the written word itself is altered to fit the times… all of these are will fit together today to explain how and why the 66-year-old Empress Dowager of Tang will manage to become the first and only woman Emperor of China in the year 690. Time Period Covered: 689-693 Major Historical Figures: Empress-Regnant Wu Zhao of Zhou, Sage Mother, Divine Sovereign, Maitreya the Peerless [r. 690-705] Li Dan (Emperor Ruizong of Tang) [r. 689-690] Chancellor Li Zhaode Chancellor Ji Xu Heir-Expectant Wu Chengsi Prince Li Chuan of Dengzhou [d. 689] Prince Li Cheng [d. 689] Prince Li Chen [d. 689] High Inquisitor Lai Junchen An Jingcan (he has guts) Major Works Cited: Guisso, Richard W. L. “The Reigns of the empress Wu, Chung-tsung and Jui-tsung (684-712)” in The Cambridge History of China, vol. 3. Chen, Jinhua. “Sarira and Scepter. Empress Wu's Political Use of Buddhist Relics” in the Journal of the International Association of Buddhist Studies, vol. 25 No. 1-2 (2002). Kory, Stephen N. “The Remarkably Resonant and Resilient Tang Dynasty Augural Stone” in Tang Studies, 26 (2008). Liu, Xiu. Jiu Tangshu. Sima, Guang. Zizhi Tongjian, vol. 206.

On today's show, I talk to Shayna Dunkelman, Michael Anthony Carter and Angelica Negron who together make up the experimental pop group Peptalk. Individually, Shayna grew up in Japan, and also plays in the bands Xiu Xiu, Glasser and Balun, a band that Angelica is also a member of. Angelica is also a composerand has been commissioned by many different festivals to create works. As well as playing music, Michael also builds audio and video pieces and equipment for everyone from Tyondai Braxton to Dan Deacon to  the LA Philharmonic. Also, Peptalk just released their first album Islet, and it's wonderful!This is the website for Beginnings, subscribe on iTunes, follow me on Twitter.

Zum Podcast Episode 23 - Jamie Stewart  ----------- Jamie Stewart is nearly indistinguishable from his 15+ year moniker performing as Xiu Xiu. Though he pals around with Prurient and Merzbow, he's finding new paths to blaze, taking on a Twin Peaks tribute and just trying to make it as a touring musician in the post-physical age. Avid traveller with an undeniable work ethic making challenging music for the mass-less. We talk whilst sitting in a car in LA's Koreatown on a sweltering afternoon. *Congratulations to mutual friend David Horvitz and Zanna Gilbert on the birth of their daughter Ela Melanie in the back of an Uber. *Oakland fire benefits: May 9th at 924 Gilman, AK Press gofundme, Shipwreck Studio, crowdrise fundraiser for displaced residents. ------------ HIGH CASTLE - After God - Spirit of the West (Zum) (intro music)  XIU XIU - Quagga (Kingfisher Bluez) 7 YEAR RABBIT CYCLE - Meditation - Wind Machines (Free Porcupine Society)

Hoje tivemos em estúdio com dois projectos e uma conversa muito animada e interessante! O primeiro foi o “Trocar por miúdos” e foi a Inês Milagres que nos explicou tudo sobre o seu exercício de conhecer mais os alimentos e de experimentar as possibilidades que cada alimento nos pode dar. Ela explicou-nos que desenhar, comer e cozinhar é um acto de simplicidade e é isso que pretende com este projecto virado para crianças dos 5 aos 12 anos. Em estúdio tivemos também a Ana Faro e a Bárbara Carvalho do Espaço XIU, um espaço criado para dar largas à imaginação! Nele, entre outras coisas, podemos ouvir concertos de taças tibetanas, fazer massagens aos pés de ficar com os pés nas nuvens, cortar o cabelo e aprender a respirar com o corpo. The post #85 TROCAR POR MIÚDOS E ESPAÇO XIU appeared first on DAR.