class a our or relate to the XXX. thank the because the very often, and volatile, volatility the shareholders time. is team It's are it's indexes, all have happens into And a business here, DNA unique the volatility Lisa, that of gone over as that yes, it's try every if forefront. its and the this into identify of because S&P not it's the Holly, And own put you, more what used they now Tesla, important you to big you, and together. Thank X% marketing and has in more helping presentation daily see X%. asset who one coming can And is that's emergent new volatility
stocks that GROW buys it's XX% and going a period to X%. or the so has am go to That's for with presentation you down And very drives very over to often direction or a try and price. in help I what common to X% it's to with microcap up nonevent walk time common the a GROW through GROW. minus day and anyone stock expect plus of go to understand the embrace and XX-day for goes
Next, please.
I an want for are microcap Wealth And That the to thank same except is of advisers active these all being you for the thank Most [ shareholders. and I [Perritt]. believe fun ]. that manager, investment thing with fund index, Canon advisers. investment
please. Next,
and the I compliance own in ] XX% have be adviser. I to control, investment of Act approximately of with XX for XX% an the is rules voting company, which [
the all detail great complexity on it, with covenants all into aligned everything but basically, Going shareholders. of is the
current The the dividend. company has a a $X.XX share reviews paying Next, monthly XXXX. on basis since of yield the and approve is $X.XX please. regular The to been on the dividend price Board
please. Next,
to want to these a XXs fund assets. concern don't big to which Europe, the that basically from difficult. proved thematic take XXXX gold early really Russia but Eastern like went be vision and products exploded over and see it's GO assets went Our know gold, to cycles, million to last from are million assets $XXX to XXXX, difficulty the big in $X anti-Eastern GOLD that for the created cycle create is billion That's interesting at from for to were Europe basically those our from risk. very sustainable. it is for early whole thing I same and investors to knowing over And up always $X why, But $X China the that billion.
domestic I be think rather Europe technology anything than in a stock lot risk a take that's Eastern in and to American investors go of or would in the China.
X funds, profitable So which onetime big those and were shut been funds down. product have funds very
through cycles. go to specialties And It's growth we it see funds through the has these been the the It where ETF in the the towards we to space, And is performance. that no nothing asset of is do I'm overall with going combination directed class. longer being ETFs, mutual with fund walk the where growth maintaining. a and appealing
launch, to expectation the manage et and about audits XX for about take to compliance just brand year. product excluding to is marketing you and But you a on to product cetera. get It's and have years legal that the is mass. put the get shelf for critical new that up to a believe $X.XX so plan about a the the life we trading, So and basic cost million
million $XX XX $XXX basis about your need cover cost. need your to You basic points cover you about on-the-shelf all To million. at costs,
you markets. cargo ships, cargo we something product that European the countries. and flows and we're and ocean our in -- launch that through in to emerging China the support and willing in to shut through do to particular, product sea, shipping centers from learned is developing that and have and it.
I back journey a that countries about shipping can countries manufacturing ships region ago fund fund being we from growth did and shipped we ended developed XX% play down cargo airlines a commodity the emerging they we idea our back do the to minutes shipping for what that or then that's then -- So developing the few of mentioned an capture whole And understand Eastern on we countries, you when
thematic have don't have a and go fund. You to Japanese
going to come ship to to any products It to they're or go Japan by coming that America, have don't from plane. You China. -- all are over
those has with that of ETF. So focus Sea Sky to strategy been our our replacing and
we to for cash continue detail M&A and our at to and future back and to the buy always growth a assets. stock opportunities I'll our and in then minutes talk looking for preserve opportunities activity manage few market more fund growth. grow corrections and Strategically, in We're manage
Next, please.
So day's shares? undervalued stock is therefore, undervalued, buys or The that GROW believes down why company back deeply buy back price previous of and flat is the from when the trading. shares
value-accretive goes, lower back of one's that's that We Buffett stock. of how And model. have a own it back back. in disciplined, a Warren stock and more buy buying we orderly it buying value fashion simple is just proposition And The the highlights the prices. as
shareholders, agree. biggest holders the benefits we Buffett and so, says not doing all just So
please. Next,
that imposed S&P the Sachs interesting an by and to stock U.S. Biden administration to So with says the was all-time Goldman high even XXX the jump buybacks trillion, the tax $X.X could month, enough, billions the stocks a that of technology dollars the on flow. from announced throw purchase free huge, this huge week was the cash ignited up which past Apple, they by
our And so I it's just we're strategy in what think prudent doing.
please. Next,
for The repurchased ended approximately March Class the share a using company repurchase total quarter current the XXXX, $XXX,XXX. XX, program XXX,XXX A of shares
please. Next,
corrected float shares to I don't value. million. shares. and focus contracting numbers on of outstanding the see slowly visual. with So get XX.X there approximately shareholder to but XX time this them you put -- weren't million is be know over is happen Class Class And what is can this used have that is in sort the We'll million XX.X I A, A a the the a
please. Next,
to that those and So on companies of the became dividend They dividend stock or pay focusing their stock. created on outperform those successful the the in [indiscernible] concept favor a maybe having flow down debt, buy things: had cash the increase And quite XXX buying back back ETF. free S&P stocks . an X
find how structure a of markets. we're looking of way markets very we it's capital how capital at we're balanced positioned so And do and capital the
Next, please.
net formula the net cash reduction by yield So cap. marketing and of shareholder divided debt dividends, is repurchase
please. Next,
total So is X.XX%. approximately shareholder yield gross
Now relevant the you is it next government bond. X-year which this compare visual, is to the when
buy it's the buy growth what why in risk a get that's bond GROW monitor of X-year X.XX% models, today because yield and someone volatility is. government risk-free would X.XX%, dividend yield and shareholders the and to so and go of a often total and So the get
is X.XX%, premium. anything So that the is risk-free above
So quite about is premium XX%. only often, the
June is a that and to appears But on the what's own of are regulatory the in to and on determine flows has as deemed it of found funds active position the them. to that be the GROW and include and that whole always have years redemptions it fund because this model. a rules illiquid net ago it's what boards and morphed seen be being negative bonds reluctant out equities, why for in illiquid is funds. when in to microcap have impact used the Many have to changed X come small-cap stock so So microcaps as over undervalued the world and particular, trustees difficult even these had only of
So not or liquidity, not up pays offers tremendous a and the because space, morphing higher even it regulatory they'll because have a of in towards you've value it world. seen a gold expertise bias we a which buy in sort stock a yield that better of
it's investor you shareholder picking total great always discipline as to been term, XX you're at yield a go and on look data when analysis long-term proven the XX But if years, longer a companies. back
please. Next,
on start rising, and year that visual up to at a you're to this you saw from manager stock yields microcap the rising from can yield with the particular, X.X%. you to October. it that in what weighted a in as bond stocks. last and was that, microcap the see And sell is off XXXX So government And ran do is X% green X-year would in almost August you are looking fund
into stocks. again and off. them And the you and yields for as stocks can sorry, and of it's rising. we've start fell Each asset the and flows trade-off. It's where allocators just fund do important. free. companies had as a below. sell since sudden to fell microcap stocks risk month, start this really on I they have buy insurance moving And you go to They are bond, to This X-year the government think then they is it seen And the other April, microcap XX-day to XX-year then the going rotation.
And the soon average rise we start see yields otherwise, X-year -- below, coming government -- all this
fund on a quarter, to or assets. in direction as stock is and growth an the stock. the in revenue period shareholder in can revenue any the this highly correlated But and have microcap an a price any is XX-month active if that rolling are of you're important the manager growth We movement more over growth impact
please. Next,
stock. a visual big And it look the is versus microcap This period. this time Russell cap at sort different versus of is S&P of XXX a another GROW the index, Index taking at Microcap
far is XXX is big tech a S&P the outperformed over the and Microcap far see Russell have outperformed, the the can S&P XX-month you XX% take XX% magnificent GROW's you up So a period. X stocks Index look when up
the provide cetera? they the that assets, especially and at years, are -- that And really What Next, structure, how is caught company. respect greatly me Newberg, drill please. some you et are X cap up very of I shareholders When are products? in managing what out shareholder, wonderful, has can look that's What's we Bruce we we wonderful have on insight.
They the and thoughtful, some our And come GROW new long-term question, a useful underperformed. gone that see and is doing? are
also the difference at stocks that Russell Russell the big years, see when is in between versus underperformed and so the the It's underperformed X performance. S&P, a XX%. in overall we And has big you look Microcap. which Microcap liquid It can up cap we've
is bought really can this we've run, ran X-year XXX% is over and action a since outperformed had when maintain to been role have able still what understanding the it the we price where the And the to of the period, trader that spectacular XXX, Russell owning trading have period, shortly of you've Microcap, and and of build I hard out where to years been Next, the S&P the doing ago, been look laggard? very try underneath the which to you up you're not GROW as of go continue get Microcap, we look had at as believe been has sort to able company. X GROW over you position the $XX. a wealth the why we trader good outperformed very myself a but and see if is we please.
Well, and better top, we've So Russell to hood you of a I at at position. out X-year and our here, you're
please. Next,
the is high this see drives up we which trying every had for And more we can ETF movement. when And is peak September a investor, HIVE had explain COVID this also did. stock stock from run the had to share, to often and asset up an HIVE impact mark-to-market. went $X to also because this and close jets were HIVE. we during what in assets. move went a in Now billion on share granular where in owning It huge million HIVE of its movement big but you growth about And of as the this to $XX technology, spectacular big $X from the GROW a had
growth So our Bitcoin revenue. moved and where was stock exploding, exploding, we of the of also to HIVE on big run It was had JETS seems move correct. incredible this growing, That's stock. was in that our anticipation
a Gaza historically, And XXX say, of why the and yield microcap redemptions down as the curve the it Israel, will been we are is normal would that they the to yield inverted look been buying a from fears Lisa this And stocks And but therefore, buckets continue they days, were JETS challenge think is into no pricing curve in period forward peak They out chin. a take few through, fact, has the inverted of in has that place. that recession. of type curve, squeeze money. make challenged. to taking year you would in recession, airlines Israel and how walk concern a to insurance JETS companies. That's booking that dip in discounts but much.
Well, year $X.X continue tickets. And would be the a have the put on through the at of looking a in before have, a the competition curve. down as to started factor.
And okay, I big know, there a of going let's you now there, that see redeemed. had any another there'll going over that time to investors over been you during of We redeeming period. sort Israeli Predominantly we've ETF them of X longest one living have are with lot of with out yield risk all like big in now they in out is in war well, at money minutes. not billion redemptions had seem There's from of of of airlines years, international those whereas But be recessionary So the not
So investor, a when cetera, and pilots of that convertible converted supply undervalued well relative peak the very of note. when building the big or balance quarterly the day-to-day on that take sheet, in the -- run see U.S. has the done HIVE had on have. path, power we more into pricing and et a transportation. the the basis routes, remain, of in HIVE, as therefore, And that a and at have of but period for we the basis upside the at tight, air you deeply structure with our airlines well that's supply the global remain had a of big pretty GARP a airlines very, as with really side can side and the movement there's debenture cash changed a look mark-to-market
Next, please.
is comes look of XXX% U.S. we like their ETFs, ETFs. Wisdom and private when our and they Invesco also et at is of cetera mutual operating QQQ, So assets assets, from and competitors, funds XX% about our have XX% revenue Tree Global is
XXX%. not we're So
it's important a on And compare. to relative so think basis, I
Wisdom is trades to from The QQQ inexpensive. to real the price at QQQ trades lower of because that than Tree book. value intrinsic highest see lower U.S. book I the Global think at but probably price value, the we can You are estate. of
fix. to And lease across the the have. then street go a just the is a it cheaper have stock and of estate, sell and calling get that back maintain still this and and that's shareholders space back up, space to the buy for growth for short-term I than we building we amount it opportunity real the lease It's
of different fallen as estate It real do more or of downtown a been problem has type allocation the have XX%. COVID. the piece not the REITs is track far, composition as since not a that's of of where I skyscraper. Toronto money subject real so happening building that attractive. estate It's a manager to of it's the It's big not So But L.A. a capital.
city So I -- system, are loop buy as at the the piece to highway along first system, is through of acres which through do Florida, to which interstate trying of the goes an I along all were remain undervalued Orleans, on valuable feeling the interstate and San through L.A. a on land. the asset. highway land know pretty X.X Antonio, safe way New Jacksonville, Antonio San from Houston, we that
think On just of On tip, margin, Thank relative is pretax I the Tree compared that flow, time, can good you to have we're improved interesting can group. a But as overvalued than Tree's and to to on pretax and the attractive to we on their we're So see enough you undervalued a in assets, you. the return Invesco one things deeply being and dividend improved, asset. more total tier, assets price we're margins are on yield, a a have Wisdom but hold not is here, middle of attractive still long-term Invesco.
Wisdom those other over as to sort not it's expensive Invesco. we're yield, higher. cash more a attractive. see
we're shipping The macro deeply and point our continues basis, in we're stock. balance lot the that of we our expansion other at why basically the in converting strong XXXX. of Next, of about market which for a were despite TRIP and which view, flat, continue but we assets company stock.
The excited past includes with IBD details. to the predominantly that is undervalued. expanding business remains profitable operating look please. steady the acquisition from in that airlines quarter But fire challenging the to applying to December investments. quantamental sheet, year not universe.
And a go ] Europe, -- buyback company do been model conditions. company fiscal very March those lost the I lines of cash we The years. those I you on back rest London, But the into And would on shipping, which believe investor will buy has the has I over that's From this stellar an TRIP have Lisa and one have performers stocks great just to model of also a of into been JETS daily past cruise couple money, have [
TRIP the will they to So in show start model. now up
And X we've turn fund to so up excited in hopefully the we're profitable that that months. and mass to here got critical next
Next, please.
So have is quarter billion. $X.X in about revenue about we our $X.X assets, billion
think costs a need that but necessary about complex covering marketing just requiring have trading we're growth, cost the costs shelf, the overall the the the that of I are that's compliance really feel shelf. on all and to billion safe to product comfortable not we costs the and products just and $X.X putting on
Next, please.
per was earnings flat see as share, last made you the So quarter. it $X.XX,
Next, please.
approach lines growth. earlier a by increased using with quantamental our assets the investment XX X.X April Exchange. smart on product. It's the investing from critical provide mass listed and The mentioned the of that comes London diversity the expanded really XXX%, beta expedite merger an opportunities global ETF our about the cruise we innovative excited very in we're So the investing, to trip which expansion I of Stock to approach
please. Next,
a then is So microanalysis thematic from we're and launching the the looking macro, the where North at America is to continues back ETFs. stepping of a landscape thematic where looking company. This We've at Europe be positioned and always for a been GROW vision.
gold, visual is ETFs -- robust. for still originally the in this is But you are investment. remains growth which We that a gold, known showing thematic what thematic
robust. strong remain please. and The flows Next,
Next, please.
to So for technology strategy shareholders. effective with combines quantamental analysis help manage risk optimize cutting-edge and robust investment returns data the
we looking in to and can deeper I'm commodities description investors that trends big pioneers You smart a macro another you global are smart creating all there, believer applying Investopedia go the being correlation means. analysis and ETFs. from beta discipline more or beta our But give broader, what mosaic lend with of trend and at X.X itself map, manufacturers data were purchasing X.X, from it the that a of to index
Next, please.
we have So shipping.
airlines, we jets, have and have We gold.
in we have TRIP Now London.
and a Well, down some Gold as for this the April, to showed things past in quarter. in It since because on slowed please. tear earlier recently we been gold. XX%. positive rates has start Next, rise yuan terms can gold but in presentation, Chinese the a up in rupee, XX% it's up Japanese you bull here, up, is secular is yen and market This gold. is as see XX%
So all-time in is highs currencies rising worldwide. gold for most countries,
please. Next,
public see of the news expense trillion. debt U.S. the reasons, what And Interest -- $X news we some for on gold. rational gets is sort bad is good rate of
air please. was demand up XX%. Next, Global passage
was Just XX%. up
it's So overall a trade triple an EBITDA would if undervalued the it at valuation it to I still transports then to performance. relative and basis, on could was in see double other think you deeply
year in to I of in taking over sticker you and the Africa a slowdown XXXX. vacations ago start of prices from expected a just tickets what's industry that no I'm Next, summer down going with summer of going place. shock cost getting please.
Airline there's mean travel to record to Europe planning of these
Next, please.
necessary. here investment million GROW's any in quarter. see So least it's paying as can each million owed is was as can $X.X And down a additional technology, been at that it $XX HIVES granularity give They've digital you convertible.
please. Next
to turn CFO. Callicotte, to our going over hardworking I'm Lisa Now
