Businesslife Issue 5

ISSUE55- JUNE June 2017 2017 ISSUE

WHAT’S INSIDE? PROMOTING TOURISM IN JA THROUGH FINANCING

PAINTING THE TOWN PLUM

A REWARDING RELATIONSHIP

THE TRUTHS ABOUT WEALTH THE BEARS VS THE BULLS

WHEN SHOULD I START SAVING?

Feature STORY:

USING POWER TO EMPOWER with T'Shura Gibbs of JPS

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Welcome Letter Lamar Harris

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Promoting Tourism in JA through Financing

SSL Marketing & Brand

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A Rewarding Relationship Danielle Brown & Kevin Wright

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SSL Segment Performance SSL Asset Management

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Using Power to Empower T’Shura Gibbs

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The Truths About Wealth Daniel Wong

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SSL Top Picks SSL Asset Management

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The Bears vs the Bulls Kelley Reid

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When Should I Start Saving?

Philip-George Pryce

Alanah Jones

Business Development Manager

Judine johnson Graphic Designer

ISSUE 5 - JUNE 2017

CONTRIBUTORS

MO-BAY OFFICE

Daniel Wong

Unit B10

Danielle Brown

info@sslinvest.com

10 Fairview Town Centre

Kelley Reid

www.sslinvest.com

Montego Bay

Kevin Wright

@ssljamaica

Lamar Harris Philip-George Pryce T’shura Gibbs

clfd HEAD OFFICE 33½ Hope Road, Kingston 10

GRAPHICS Judine Johnson

876.929.3400

876.764.0276

MEGAMART KIOSKS Waterloo Montego Bay Portmore Mandeville

Welcome Welcome to another edition of the Business Life! It is exciting to see how much the magazine has grown. Its chuck full of even more information to assist you on the road to financial success.

So much to discuss since the last edition; as expected, the US Federal Reserve raised interest rates twice and has indicated that a third-rate hike should be expected if economic indicators continue to reflect a strengthening economy. The market has already priced in these rate hikes, so we do not expect to see any major movements.

Many persons still remain in the wait and see mode as the Trump administration has not been able to execute any of its much-anticipated plans. Tax reform is being highly anticipated and market players are looking forward to taking advantage of promised tax breaks. However, the administration remains under scrutiny, fighting scandal after scandal with many wondering when the business of government will ever occur.

In the midst of all of this Theresa May’s strategic move to garner more seats in the UK Parliament failed. Her conservative party actually lost seats! This creates even more doubt that Brexit will actually occur. The US and the UK are two of the most powerful nations in the world and their leadership is being questioned internationally.

Our island home, despite the challenges, seems to be progressing. The government has solidified its commitment to continue the Junior Market incentives, which should lead to even more listed companies throughout 2017. Both the main and junior market indices are both expected to rise for 2017. Further consumer confidence is on the rise and the tourism continues to be the island’s shining star.

We are midway through the year and all the unknowns will create opportunities with varied risk. Let the expertise of SSL help you navigate the financial waters during this unprecedented time.

Here at SSL we continue to make strides toward providing the ultimate service 4

BusinessLife - June 2017

Lamar Harris

General Manager & Company Secretary

experience. This quarter saw our official debut into the market of ambitious Jamaicans through our “Love My Money” marketing campaign. Our primary goal is to encourage the approximately half a million Jamaicans enrolled in our government’s Pay As You Earn (PAYE) program to take advantage of putting a portion of their salaries to work in the financial markets. This edition of BusinessLife features interviews with SSL clients who, quite simply, decided to make it happen. These clients have been rewarded by enforcing discipline in their saving and investing habits, and continue to reap the rewards. We will continue to drive this message into the homes of all Jamaicans as we feel it is our duty use our power to empower each other, reaping the benefits of a strengthening Jamaican economy.

Yours sincerely,

Lamar Harris.

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PROMOTING TOURISM IN JAMAICA THROUGH FINANCING SSL hosted a luncheon on May 13, 2017 at the Good Hope Great House in Trelawny for the investors of SSL’s arrangement of financing for Good Hope (Holdings) Limited, and other related parties.

The luncheon provided the investors and their families with an opportunity “to see their investments on the ground, not just stocks and bonds and paper investments” as stated by SSL’s CEO, Mark Croskery.

The SSL team closed the transaction on March 11, 2016 by raising US$2 million for Good Hope registered as an exempt distribution with the Financial Services Commission. The funds were used to develop a section of the property into a waterpark featuring a waterslide, pool and dining accommodations. This area was officially opened in March of 2017 and Chukka Caribbean, the lessee of the newly renovated property, has seen a 50% increase in guests compared to the same month in the previous year, according to CEO of Chukka Caribbean, John Byles.

This year marks the 275th anniversary of the establishment of the Good Hope Estate. It is the largest collection of historical buildings in the Caribbean and is a

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National Heritage Site. The estate boasts over 2,000 acres of lush plant life which borders the Martha Brae River in the parish of Trelawny. It has some of the best examples of Georgian architecture in the island.

The estate is now owned by Blaise Hart after it was passed on to him by his father who purchased the property in 1989.

Good Hope is more than just an estate home; it is, as it probably was in the 18th century, a model for elegant country living and has retained its Colonial stature and appeal even through its transformation into a luxurious villa complex with all the modern conveniences. In addition to the modern conveniences, the owner of Good Hope Estate has partnered with CHUKKA Caribbean Adventures to provide guests with the ultimate island experience.

CHUKKA is all about playtime, fun, laughter and a passion for life. The CHUKKA team takes pride on providing a memorable experience to their guests while they play and enjoy the first class restaurant facility along with a variety of cultural experiences. From the tingling rush of a zipline and a journey back in time at a great house, to a ride through

Good Hope is a perfect example of when you have a good partnership

Good Hope Estate June 2017 2017 -- BusinessLife BusinessLife

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mystical caves and a tube ride down famous rivers, Chukka has something for everyone.

Marc Melville, Director of Group Revenue and New Development at CHUKKA Caribbean Adventures believes in the success of this business venture. He states that “Good Hope is a perfect example of when you have a good

Highlights from Good Hope Investor luncheon

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partnership. Good projects like this can’t happen without a good landlord, a good operator and a good financier such as SSL. We believe Good Hope will be Jamaica’s marquee attraction as it is in the center of the island and it is 15 minutes away from Falmouth.”

SSL’s Investment Banking unit provides their clients with the opportunity to raise funds outside of the bank, both privately and publicly. With a focus on assisting Jamaican companies expand and venture into new business models, SSL structured this investment for Good Hope (Holdings) Limited to diversify its offerings while providing a consistent return to its investors. The luncheon was a celebration of a successful investment banking transaction and set the tone for continued investment in Jamaica’s tourism industry through financing options offered by SSL.

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A REWARDING RELATIONSHIP Like most young Jamaicans, Danielle Brown was intimidated by the thought of investing a portion of her hard earned money. However, a little bravery and a lot of discipline helped Danielle take the leap from novice investor to proud SSL client being, rewarded by her returns and consistent support from SSL’s Brokerage Supervisor, Kevin Wright. BusinessLife’s editorial team spoke to Danielle and Kevin to learn more about Danielle’s journey and their relationship as client and brokerage representative.

KEVIN, HOW DID YOU MEET MS. BROWN? Ms. Brown established her account with SSL shortly after I was hired in November 2015 in the capacity of Service Associate. However, it was not until I transitioned to Brokerage Associate that I met Ms. Brown through placing orders on her behalf.

MS. BROWN, WHY DID YOU DECIDE TO OPEN A BROKERAGE ACCOUNT WITH SSL? Apart from making Jamaican dollar investments, I have plans to start trading on the US stock exchanges eventually. Out of all the brokerage houses that I did research on, SSL was the only one that facilitated that at the time. Plus, your physical location is just a stone’s throw away from my workplace, so there is the added convenience of me being able to drop in if I ever feel the need to.

HOW DID YOU FEEL WHEN YOU WERE ABOUT TO OPEN YOUR INVESTMENT ACCOUNT? Scared and excited. I heard about people making big losses and losing it all in one go, but I also remembered some really thrilling success stories, hence that emotional combination. I remember praying as I submitted my first check and saying, “Lord, help me with this one. Make it work!”

HOW INVOLVED ARE YOU WITH YOUR INVESTMENT PORTFOLIO? Very! One of the first things I do when I get my pay check is to make an equity acquisition with a sizeable portion of it, and I always do some research and seek advice from Mr. Wright before I make a final decision. Sometimes I will see a great opportunity during the course of the month (for example, an IPO or a stock split) and I purchase more stocks because of it. I think I overdo it sometimes to be honest… there are weeks when I will make calls to Mr. Wright every day to get some advice about major changes that I want to make to my

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I’m determined to make every dollar that I can spare work for me now!

Danielle Brown SSL BROKERAGE CLIENT

portfolio. This tends to happen when I get excited about making equity purchases, which happens often. These are exciting times in Jamaican business and investment, and I want to take advantage of as many opportunities as possible.

KEVIN, HOW DOES MS. BROWN LIKE TO INVEST? Ms. Brown has a fantastic investment mentality. She maintains a very good understanding of risk and reward as it relates to the stock market and has utilized this knowledge to assist in shaping her portfolio and investment strategy. Over the months, she has developed more of a tolerance and willingness to take on additional risk, and I believe she has found a great balance between not overexposing herself while still ensuring all decisions are reinforced by heavily researched facts.

MS. BROWN, HOW DO YOU THINK YOU HAVE GROWN AS AN INVESTOR? I’ve grown in a number of ways. Since I’ve started investing, I learnt a lot more about what differentiates great companies from others. Consequently, I have become more confident in my abilities to make sound investment decisions. I have also become a lot more dedicated to building my portfolio, because of the potential I see in it to grow and the gains that I have already experienced. This in turn has made me more cognizant of the effects of my spending habits, and so I have become far more frugal. I’m determined to make every dollar that I can spare work for me now!

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KEVIN, WHAT GOOD INVESTING HABITS DOES MS. BROWN PRACTICE? As previously mentioned, all of Ms. Brown's decisions are always heavily research driven (which really should be the case for all investment decisions), but a great investing habit outside of making well informed decisions is that she makes it her duty to have some form of contribution to her portfolio every single month. Not only has her percentage in gain increased over her investment life (representing the sound investment decisions she has made to date), but she is also now working on a larger principal amount, making that percentage value translate to a higher monetary value.

HOW DO YOU ENSURE MS. BROWN CONTINUES TO BENEFIT FROM HER INVESTMENT PORTFOLIO? As the stock market is a very dynamic realm to operate within, constant communication is key. Always keeping Ms. Brown up to date with new recommendations for potential buys, sells and any other shifts within the market (new and emerging businesses, company financials, etc.). We are in contact at least once/ twice a week, and I believe this is just a further reflection of her constant commitment and demand for involvement.

MS. BROWN, HOW DO YOU NOW FEEL ABOUT INVESTING? A whole lot better. I’ve made more gains than losses, so I’m pleased about that.

And I am very optimistic about the direction in which my portfolio is headed. It has a lot of potential to grow, so that is particularly satisfying. I have no problem making whatever sacrifices I need to make so that it will grow. As far as I am concerned, the sky is no limit.

DO YOU ENCOURAGE YOUR FRIENDS AND FAMILY TO INVEST AT SSL? I will encourage a friend when I realize he or she is interested in investing in financial instruments. One of them is now a client of SSL. A number of family members know that I invest at SSL as well.

HOW WOULD YOU DESCRIBE YOUR PROFESSIONAL RELATIONSHIP WITH KEVIN WRIGHT? Really rewarding. Mr. Wright has encouraged me to build my portfolio whenever

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he gets the chance. He is willing to be a sounding board for me when I have a strong opinion about something, but he ensures that he gives me SSL’s recommendations about the best acquisitions to make. That doesn’t stop from him being flexible though; I have developed a healthy appetite for risk, and if I see an opportunity that carries a relatively high level of risk, he will encourage me to take it if he shares my opinion about its possible benefits. From time to time I have struggles with making particular decisions, and his advice has never failed to help me resolve them. He has made it his business to know my preferred investment strategies so that he can advise me accordingly, and he alerts me to opportunities that he thinks may be advantageous to me. All of the above combined with a warm personality and courteous deportment makes him a wonderful fit for me as an investment advisor. I particularly appreciate him because even though I am a small investor, he makes me feel no less important than someone who has say, tens of millions of dollars to invest. I’m working on reaching that stage as soon as possible though, and he’s helping me to get there day by day. My portfolio has seen significant growth under his supervision.

Thank you very much Sir Wright! SSL, he’s a keeper, . Make sure you don’t lose him!

KEVIN, HOW WOULD YOU DESCRIBE YOUR PROFESSIONAL RELATIONSHIP WITH MS. BROWN? Very rewarding. It has been a pleasure assisting Ms. Brown over the period of her investment journey thus far. The steady growth of her portfolio has definitely made me proud of the decisions she has chosen to make over the period. Knowing the direction and goals that Ms. Brown ultimately would like to achieve with her investment, shows that we still have much more work to do for the future but I strongly believe that she has laid a solid foundation in the manner in which her finances are handled and other individuals could definitely benefit from taking a page out of her book.

WHAT WOULD YOU SAY HAS CONTRIBUTED THE MOST TO MS. BROWN’S SUCCESSFUL PORTFOLIO? Very simply put, her continued dedication, discipline and active involvement in her portfolio are the key factors to her current success.

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Segment Performance Stocks and Securities Limited consistently produces superior investment returns to over 7000 clients. Our mission is to create investment portfolios for every Jamaican and we strongly believe in transparency. With that being said, every quarter we publish our segment returns to ensure that our clients and the general public can have confidence in our expertise.

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DESCRIPTION

SINCE INCEPTION

12 MONTH RETURN

LAST QUARTER RETURN

JAN ‘16 - JAN ’17

JAN ‘17 - APR ’17

JM$ Equities

87.91%

51.85%

36.06%

US$ Equities

18.86%

10.62%

8.24%

US$ Bonds

12.24%

9.00%

3.24%

DESCRIPTION

SINCE INCEPTION

12 MONTH RETURN

LAST QUARTER RETURN

APR ‘16 - APR ’17

JAN ‘17 - APR ’17

Private Wealth Managment

16.61%

16.61%

2.66%

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DESCRIPTION

SINCE INCEPTION

12 MONTH RETURN

LAST QUARTER RETURN

JAN ‘16 - JAN ’17

JAN ‘17 - APR ’17

Money Managers - Income

6.40%

N/A

6.40%

Money Managers - Balanced

12.68%

N/A

12.68%

Money Managers - Growth

21.23%

N/A

21.23%

Safe Solutions - Conservative

15.10%

10.16%

4.94%

Safe Solutions - Moderate

13.49%

8.12%

5.37%

Safe Solutions - Aggressive

11.13%

5.87%

5.26%

Plum Plan - Conservative

13.31%

9.89%

3.42%

Plum Plan - Moderate

8.60%

6.27%

2.33%

Plum Plan - Aggressive

9.23%

6.75%

2.48%

Plum Plan - Very Aggressive

19.91%

10.88%

9.03%

Plum 100

1.17%

N/A

1.17%

NOTES:

- Brokerage Returns are inclusive of the Run with Plum (Our recommended list) - "Since Inception" are cummulative not annualized.

- Financial Planning - All Returns are denominated in USD; except Money Managers - denominated in JMD

painting the town plum

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USING POWER TO EMPOWER T’Shura Gibbs is an SSL client who has made tremendous efforts to constantly empower her employees. With the help of T’Shura, SSL has conducted four presentations at JPS’ office in Montego Bay, and with each session, more employees are converted to SSL clients. We sat down with this dynamic executive to learn more about her story and her dreams for her team members.

WHEN AND HOW DID YOU START INVESTING? From a relatively early age I realized that true wealth is created by making investments and driving passive income. A salary, regardless of how good it is, can only provide income which can determine your standard of living and provide a safety net for a limited time. Wealth, however, provides the basis on which you can ensure a lifetime of financial security and create a financial legacy for your family. This has always been something that interested me. I spend a good deal of time reading business publications and researching different stocks and investment opportunities. Through online research and conversations with experts, I constantly strive to be a smarter investor.

WHAT MADE YOU DECIDE THAT IT WAS A GOOD IDEA TO GET YOUR TEAM MEMBERS INVOLVED IN INVESTMENTS? I take pride in the development of my team, not just professionally, but spiritually and financially. Introducing them to investing in the stock market was one of the three pillars to wealth creation on which we focused.

WHAT TYPES OF SAVINGS PROGRAMS WERE YOUR EMPLOYEES INVOLVED IN BEFORE? Predominantly regular savings accounts or fixed deposits at commercial banks.

DESCRIBE THE STRATEGIES YOU USE TO GET YOUR EMPLOYEES TO INVEST. During my monthly meetings, I would bring in speakers to share their journeys to wealth creation with my team. While they would get excited in the moment, the momentum would be lost shortly after, due to work priorities.

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T’Shura Gibbs She is the President of the Montego Bay Chamber of Commerce and Industry and Regional Director for Western Jamaica at the Jamaica Public Service Company Limited (JPS).

About a year ago in one meeting I gave away three SSL vouchers valued at US$250 each which I felt would be substantial enough that it would not just be a piece of paper that was placed in a desk drawer and forgotten. One employee went straight to SSL and started the conversation. He was very active in seeking advice and started doing a lot of reading and research on his own. His account has grown significantly this past year and he continues to add to it as he works toward his goal of financial security. To see him embrace an idea so fully and put himself on a trajectory for prosperity in his life gives me tremendous satisfaction.

When this team member shared his story at a subsequent meeting, the other two team members who had won vouchers also went and started their accounts.

HOW DO YOU SHARE YOUR INVESTMENT PHILOSOPHY? I encourage my team members to invest, at every opportunity. I don't believe it is something that should be deferred. The best way to see the benefit of compound returns is to start - where you are with what you have. Your future self will thank you.

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WHY SSL? Over the years SSL has provided a great level of service, advice and information throughout the course of our relationship. It is an institution I trust and whose guidance I value.

DO YOU HAVE A MESSAGE TO SEND TO EMPLOYERS OR MANAGERS WHO ARE NOT ENCOURAGING THEIR EMPLOYEES TO INVEST? Yes. What I have found is that there is a general fear of talking about money and wealth creation. Do not let this deter you; have the conversation. I have found that giving them that ‘jump start’ in the form of an SSL voucher was a good move. It forced them to start; and once in, there is no turning back.

A prosperous nation, requires prosperous individuals.

As leaders, we have a responsibility to not only build workforce capacity, but to support the personal growth and development of the individuals we lead.

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A prosperous nation, requires prosperous individuals.

SSL’S JMD EQUITY RECOMMENDATIONS RETURNED

51.85%* ON JMD IN 12 MONTHS.

*This indicates an average return for the 12M period ending January 2017. *Historical returns are not indicative of future results.

OWN THE PRODUCT? ...or the company that makes it?

If you have at least JMD$5,000 sitting in your savings account, call one of our Brokerage Associates today to earn more money.

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Can I become wealthy?

THE TRUTHS ABOUT WEALTH How do I become wealthy? written by Daniel Wong, Should I invest in the stock market? Internal Control Associate These are all questions that we might find ourselves asking at some point or another in our lives. Well, unfortunately these questions are not easily answered with a yes or no and there is no wrong or right answer to these questions.

However, there are some things you should know before attempting to answer these questions and they are 'The Truths About Wealth’. Before you start investing, it's best to first be informed.

TRUTH 1

WEALTH IS ACCESSIBLE TO ALL BUT, NOT ALL WILL ACCESS IT!

This is a fact, but if you have already been deterred by this harsh but true statement then you have already started off on the wrong foot or rather, no foot at all, because it is likely that you would not even bother to make that first step. In order to access wealth, you have to put yourself in a position to do so; by starting now, not later, whether it is spending less, saving more or investing in stocks or other securities.

ONE GOOD EXAMPLE OF MAKING YOUR MONEY WORK FOR YOU IS INVESTING IT.

TRUTH 2

Be a 'go getter' and make wealth accessible to you even if it means taking risks. Don’t be afraid to lose, because it is imperative to believe that you can always get it back and even more. Being proactive also means a change in your mindset, your mentality and the way you think. Be optimistic and don’t limit yourself. If you never see yourself as having your dream house, then chances are you will never work for it or put yourself into the position of attaining it. Remember, small efforts lead to small results so think wealthy, think big.

THERE IS NO UNIVERSAL FORMULA TO BECOME WEALTHY!

The path to wealth is nothing short of being a maze. There are many ways of generating wealth and what works for me may not work for you, nor do we all have the same opportunities to begin with. However, one recommendation by the experts that would appear to work for all is, diversification. Diversification surrounds the idea of “not putting all your eggs in one basket”. Although saving is a big part of accumulating wealth, it is not enough. One needs to have multiple streams of income or earnings.

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Your income should be active as well as passive. An active income would include your earnings from your job and, for most of us this is definitely not enough to make us wealthy. Passive income, on the other hand, follows the concept of making your money work for you. One good example of making your money work for you is investing it, whether it be in stocks and securities or real estate. So think about earning your salary (active income), while getting rent from property or dividends from stocks (passive income).

TRUTH 3

MOST WEALTH IS ACCUMULATED OVER GENERATIONS!

Another truth is that most wealthy persons or families are where they are today because of generational wealth. Wealth inherited and passed down from generation to generation. This therefore gives credit to the statement that “the rich will always get richer”, because it is easier to make more money when you already have money. As a result, the wealth that we would probably like to amass in our lifetime would have to have started from your ancestors and won’t be entirely for our benefit.

Wealth is about hard-work and sacrifice. A sacrifice made now so your children and their children will have a better start. Even if you were not one of these wealthy “generational fortunates”, you still have the chance to allow your successors to be one. This is not to say that those who have inherited wealth enjoys the spoils without hard-work and sacrifice, which leads me to my next truth.

TRUTH 4

IT IS EASIER TO BECOME WEALTHY BUT HARDER TO MAINTAIN IT!

A teacher once told me that it is easier to get an A and harder to keep it. Anyone can get lucky and win the lotto, but chances are they will lose it even quicker, ‘easy come easy go’. It takes foresight, a sound plan and good management to maintain your wealth. I am not asking you to be a prophet, but only to be aware and informed, don't be one of the ones who say “ if only I did this when I was younger, if only I knew better”. So be honest with yourself, if your forte does not involve good money management and planning, don’t be afraid to go to the professionals, they are not all profit hungry. If you are interested in investing in stocks and securities, go somewhere where not only are you appreciated, but where your investments appreciate.

TRUTH 5

WEALTH IS FREEDOM BUT MORE RESPONSIBILITY!

Wealth can be good and bad. It offers you financial freedom but you might find yourself with more desires and more expenses. The term “more money, more problems” comes to mind. However, I also believe in working hard and playing hard, so I encourage you to enjoy the fruits of your labour and don’t be a miser.

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Spend but don’t be greedy, know when to hold and know when to fold. Don’t make spontaneous financial decisions that satisfy your need for instant gratification. Start making wise financial decisions that will benefit you for the rest of your life.

TRUTH 6

WEALTH IS ACHIEVED NOT PERCEIVED!

Don’t spend too much time looking at other people’s wealth. Quite often, the persons who appear to be wealthy have a surplus of loans and negative credit card balances. Be guided by wealthy people but don’t be deterred by them.

Don’t let someone tell you that your plans are not worth it. After all some people will always want to see you do well but never better than them. True wealth is earned, and it is not always about working hard but working smart. Let your money do the work for you. Be committed to your plans and investments and don’t be haphazard.

TRUTH 7

WEALTH IS NOT ONLY MONETARY!

Finally, invest in your wellbeing, your health, your body, your mind, your family, your friends, and your passion. Remember being wealthy doesn’t always mean having money, it involves being happy with what you have.

Asset Management’s TOP PICKS Whether you prefer to be the boss of your own investments or to sit back and have your investments managed, there is one thing you can rely on – SSL’s Asset Management Team. Our experts are always one step ahead of the game, ensuring that your investments are treated with the highest priority. The stock markets are their bread and butter and with constant monitoring, they work in your best interest by providing recommendations. So go ahead and be confident, be in the know. Here are some of their top picks for the local and international markets.

Top 2 JMD Equities JETCON CORPORATION LIMITED (JETCON) - Jetcon grew revenues by 75% to $258 million in the March quarter. Business has spiked consistently for the company since it went public a year ago via the junior stock market.

SAGICOR GROUP JAMAICA LIMITED (SJ) - Sagicor made $2.59 billion net profit for shareholders in its March quarter, or 36 per cent higher profit than a year earlier.

Top 2 USD Equities RAYTHEON COMPANY (NYSE:RTN) - Raytheon’s first-quarter revenues of $6,000 million saw a 3.4% year-over-year growth.

JPMORGAN CHASE & CO. (NYSE:JPM) - JPMorgan’s shares increased 42% over the last one year, which outpaced the 33.8% gain for Major Regional Banks industry.

Top 2 USD Bonds HPQ 3 3/4 2020 - HP’s total revenue increased 3.6% year over year to $12.684 billion The better-than-expected top-line performance was driven mainly by strength in the Personal System segment and outperformance of newly launched products.

CTL 7.5 2024 - In Mar 2017, CenturyLink and Level 3 Communications moved a step closer to completing their proposed merger amid overwhelming approval of shareholders of both sides.

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THE BEARS vs THE BULLS written by Kelley Reid, Asset Manager

The Bulls A bull market is a duration of generally rising prices, where the market is showing conďŹ dence. The market indices such as the NASDAQ, FTSE and DOW Jones go up as well. Number of shares traded is also high and even the number of companies entering the stock market show that the market is conďŹ dent.

Therefore, these are bullish characteristics.

Technically though a bull market is a rise in value of the market of at least 20%.

The huge rise of the Dow and NASDAQ during the tech boom is a good example of a bull market.

The Bears A bear market is the opposite to a bull, this is where the markets fall by more than 20%. A bear market is a market showing a lack of conďŹ dence. Prices hover at the same price then go down, indices fall too and volumes are decreasing or stagnant. The bear market essentially becomes a waiting game as people wait for the bulls to start driving the prices up again.

However, I will go as far to say that a bear is nothing more than a very tentative bull or a bull that is asleep.

Where did these terms come from?

The origins of the terms "bull" and "bear" are unclear, but the most common explanation is from the way in which each animal attacks its victims. It is in the nature of the bull to drive its horns up into the air, while a bear, on the other hand, like the market that bears its name, will swipe its paws downward upon its prey.

What to do?

In a bull market, investors will take advantage of rising prices by buying early in the trend and then selling them when they have reached their peak. Of course, the key is to determine exactly when to enter and exit.

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When investors have a tendency to believe that the market will rise (thus being bullish), they are more likely to make profits in a bull market. As prices are on the rise, any losses should be minor and temporary. During the bull market, an investor can actively and confidently invest in more equity with a higher probability of making a return.

However, in a bear market, the chance of losses is greater because prices continually lose value and the end is never set in stone. Investors who do decide to invest with the hope of an upturn, are likely to take a loss before any turnaround occurs.

Thus, most of the profitability will be found in safer investments such as fixed-income securities.

An investor may also turn to defensive stocks, whose performances are only minimally affected by changing trends in the market and are therefore stable in both economic cycle.

THERE IS NO SURE WAY TO PREDICT MARKET TRENDS...

Where are we now?

The triggers for one market vs the other may differ from time to time. For example; in the 1970s there was a global recession with high inflation, then in 2000 the dotcom bubble, was largely due to over-valuations and of course the 2007-2008 banking sector collapse.

One thing the economy has taught us over the years is that markets does not follow a strict set of rules, in this world a+b may not always equal c. Even if the circumstances seem obvious in hindsight, it is seldom possible that the bull market is coming to an end and the bear market is approaching.

Conclusion There is no sure way to predict market trends, so investors should invest their money based on the quality of the investments. Both the bear and the bull markets will have a large influence over your investments, do take the time to determine what the market is doing when you are making an investment decision. Remember though, in the long term, the market has posted a positive return.

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Crossword Puzzle

across tool used to statistically measure the 3 Aprogress of a group of stocks that share characteristics. of ownership in a company 5 Athatpiece can be bought or sold to other investors.

7

The increase in price movement of goods and services in an economy.

is the lowest price an owner is 8 This willing to accept for an asset. practice of spreading money 9 The among different investments to reduce risk, such as investing in different companies in various industries or in several different types of investments.

11 28

This is a place where investments, including stocks, bonds, commodities, and other assets are bought and sold.

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down investment approach 1 An that accepts lower rewards in return for lower risks.

potentially

statistical rate at which 2 The a stock increases or decreases and also the uncertainty or risk in the changes of a stock. in commerce 4 Athatbasicis good often used as a method to supplement goods or services such as gold, oil, natural gas, grains, etc. process by which 10 The companies offer shares to public investors for the ďŹ rst time and is the way that a private company becomes a publicly traded one.

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FINANCIAL HELP! June 2017 - BusinessLife

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WHEN SHOULD I START SAVING? written by Philip-George Pryce, Investment Analyst Many people often delay saving by saying “I’ll begin saving in a few years, it won’t make a big difference.” This is a problem for two reasons. Firstly, “in a few years” may never come. It is not unusual for people to delay saving year after year until suddenly a decade or two have passed and a person still has very little in savings. The second problem with this mindset is that, contrary to popular belief, saving early actually makes a massive difference, even if the delay in saving is only by a few years.

For example, let us consider a person that decides to save $10,000 a month every year for 30 years. We’ll assume this person saves $120,000 a year, and his savings are compounded annually at a rate of 7% a year over the 30 year period. At the end of the 30 year period, this person would have saved a total of roughly $11,335,294. How does this amount saved change if the person instead decides to delay saving by only five years? Well, if a person saves $120,000 a year at 7% a year compounded annually for 25 years, at the end of the period the person would have saved $7,589,884. By delaying saving for five years the person would have lost $3,745,410 – which is close to $750,000 for every year the person chose not to save, or over $2,000 for every day the person delayed saving!

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Why is this? Why does delaying saving by only a few years have such a major impact on the total amount saved?

This is because of the effect of compounding. The money you save continues to earn interest year after year, and over time the amount it earns in interest becomes even greater than the $120,000 contribution you make.

For example, the amount of interest earned in the final year of the scenario above (from year 29 to year 30) would be over $730,000!

The total amount you save gets a lot bigger if you increase your contribution over time. Suppose you decide that every year you want to increase your contribution by 5%. This is similar to deciding to save $10,500 a month in your second year of saving, rather than the same $10,000 you saved in your first year. Using the same interest rate above, if your contribution increases by 5% a year you would have saved almost $20 million at the end of 30 years!

So the best time to start saving is today, but now you’re probably thinking “Okay, how do I save?” Talk to a financial advisor or investment firm about the options available to you.

Ideally, you would have your money invested in a mixture of stocks and bonds – depending on the level of risk

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the best time to start investing is now!

you are willing to take and the interest, or what we call return, you are seeking.

What exactly are these stocks and bonds I mentioned earlier? By purchasing a stock you basically purchase a very small share in a company, and you make money when the company increases in value or pays out excess cash to its investors. You essentially become a part owner of the company! A bond is slightly different; by purchasing a bond you lend a company money and in return the company gives you fixed payments over time. Don’t worry if this looks like a lot to take in, your financial advisor can explain both to you in more detail and will even manage your entire portfolio for you hassle free. Your financial planner will buy any stocks and bonds that he/she thinks are a suitable investment for you, and decide the best times to sell the stocks you own. Your actual involvement in the investing can be as hands on or hands off as you would like.

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The last thing you need to do is ensure that when you save, your portfolio is well diversified. This means that rather than invest in one stock or one bond, it would be best to invest in a large basket of stocks and bonds. As the old phrase goes, “don’t put all of your eggs in one basket”. Ensure that your financial planner doesn’t put too much money into a single financial instrument, but instead invests in a large variety of stocks and bonds. This will make it so that any single stock/bond losing value will not significantly impact the return earned on your portfolio. Being properly diversified will significantly reduce the risks you face as an investor.

The best time to start saving is right now.

Every little amount counts, and a small investment today will be worth a large sum of money years in the future!

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