1 00:00:06,320 --> 00:00:08,760 Speaker 1: This is the weekend edition of Fear and Greed, daily 2 00:00:08,800 --> 00:00:11,040 Speaker 1: business news for people who make their own decisions. Are 3 00:00:11,080 --> 00:00:14,000 Speaker 1: Michael Thompson and good morning, Sean Aylmer. 4 00:00:14,200 --> 00:00:16,640 Speaker 2: Good morning, Michael Thompson. 5 00:00:17,000 --> 00:00:19,040 Speaker 1: So I did sound a little bit robotic there, didn't I? 6 00:00:19,360 --> 00:00:19,599 Speaker 2: Look? 7 00:00:20,040 --> 00:00:22,599 Speaker 1: Our weekend show is all about It's a competition. It 8 00:00:22,680 --> 00:00:25,120 Speaker 1: is a furious debate between the two of us. We 9 00:00:25,200 --> 00:00:28,280 Speaker 1: nominate what we think is the biggest business story of 10 00:00:28,320 --> 00:00:31,600 Speaker 1: the week, the most remarkable story, a mystery category that 11 00:00:31,680 --> 00:00:34,000 Speaker 1: changes every week, and then our favorite story. It is 12 00:00:34,040 --> 00:00:37,320 Speaker 1: a competition. It is a debate. So we needed an adjudicator, 13 00:00:37,360 --> 00:00:40,680 Speaker 1: and our judge is our Fear and Greed colleague, Adam Lang. 14 00:00:41,040 --> 00:00:42,160 Speaker 1: Good morning, Adam. 15 00:00:42,240 --> 00:00:44,320 Speaker 3: Good morning Michael, and good morning Sean. 16 00:00:45,000 --> 00:00:45,680 Speaker 1: Morning Adam. 17 00:00:45,680 --> 00:00:47,879 Speaker 2: Long way from last week where we were in Ningen 18 00:00:48,479 --> 00:00:53,479 Speaker 2: kind of Make Belief Studio. What a great train of 19 00:00:53,560 --> 00:00:53,920 Speaker 2: the show. 20 00:00:54,080 --> 00:00:57,880 Speaker 1: And in a fortnight, in a fortnight's time, we are 21 00:00:57,920 --> 00:01:02,280 Speaker 1: going to be doing this show with a love audience. 22 00:01:02,400 --> 00:01:03,760 Speaker 3: What could possibly go wrong? 23 00:01:03,840 --> 00:01:06,720 Speaker 1: Everything could go wrong and probably will go wrong. So 24 00:01:07,440 --> 00:01:09,000 Speaker 1: it's going to be an adventure, isn't it. 25 00:01:09,280 --> 00:01:12,720 Speaker 2: So it's on a Thursday night, the fifth of June, 26 00:01:13,280 --> 00:01:17,800 Speaker 2: Free I mean, what a bargain free you get. 27 00:01:17,760 --> 00:01:19,920 Speaker 3: Well, you have to give two hours of your time. 28 00:01:19,800 --> 00:01:22,160 Speaker 2: True, but you get to see taping of the show, 29 00:01:22,440 --> 00:01:27,679 Speaker 2: the weekend edition, plus the launch of the one only 30 00:01:28,200 --> 00:01:31,880 Speaker 2: Michael J. Jompson's latest book. 31 00:01:31,680 --> 00:01:34,680 Speaker 1: Charles William Thompson mc w Thompson. 32 00:01:34,720 --> 00:01:35,039 Speaker 3: Please. 33 00:01:36,160 --> 00:01:38,440 Speaker 1: Yes, All the Perfect Days is the name of the book, 34 00:01:38,480 --> 00:01:41,000 Speaker 1: and it is coming out that week and we will 35 00:01:41,040 --> 00:01:43,000 Speaker 1: be launching it that night. It's going to be it's 36 00:01:43,040 --> 00:01:45,520 Speaker 1: going to be good fun. But yeah, there are tickets 37 00:01:45,520 --> 00:01:47,400 Speaker 1: available now and they are actually going. 38 00:01:48,520 --> 00:01:50,760 Speaker 3: They're going quickly. Yes, So if you're in Sydney, go 39 00:01:50,800 --> 00:01:53,640 Speaker 3: to event bright but please, if you can make it, 40 00:01:53,640 --> 00:01:55,000 Speaker 3: come along. We'd love to see that. 41 00:01:55,160 --> 00:01:57,320 Speaker 2: Absolutely not naming Sydney. I mean the cook's coming up 42 00:01:57,320 --> 00:01:57,800 Speaker 2: from Melbourne. 43 00:01:57,800 --> 00:01:58,240 Speaker 3: That's true. 44 00:01:58,520 --> 00:02:01,120 Speaker 2: You're in Melbourne, come up, We've got the trip. 45 00:02:01,280 --> 00:02:03,280 Speaker 1: That's right. And I'll put a link in today's show 46 00:02:03,280 --> 00:02:05,680 Speaker 1: notes as well, so it's very very easy to book 47 00:02:05,800 --> 00:02:08,760 Speaker 1: your ticket. Fear and Greed live, Ah, come and see 48 00:02:08,800 --> 00:02:11,760 Speaker 1: the disaster in action. Anyway, let's do a little bit 49 00:02:11,760 --> 00:02:14,600 Speaker 1: of a live rehearsal for it today with today's episode. 50 00:02:14,600 --> 00:02:16,360 Speaker 1: So we're going to keep this brief we're going to 51 00:02:16,440 --> 00:02:21,360 Speaker 1: keep it sharp starting now the biggest story of the week. Sean, 52 00:02:21,440 --> 00:02:23,680 Speaker 1: you should go first on this, actually first, Adam in 53 00:02:23,919 --> 00:02:25,839 Speaker 1: ten seconds or what are you looking for? 54 00:02:26,080 --> 00:02:29,080 Speaker 3: Timeliness, topicality in the subject matter. It has to have 55 00:02:29,160 --> 00:02:32,440 Speaker 3: economic impact, play a bit to my subjective bias if 56 00:02:32,440 --> 00:02:34,680 Speaker 3: you can, and of course melodrama. 57 00:02:34,720 --> 00:02:35,480 Speaker 1: It's a big ask. 58 00:02:36,000 --> 00:02:37,919 Speaker 2: Not really, not when you've got the biggest story of 59 00:02:37,919 --> 00:02:38,120 Speaker 2: the week. 60 00:02:38,120 --> 00:02:40,240 Speaker 3: While I did, Michael, Yeah, and we've been doing this 61 00:02:40,280 --> 00:02:43,880 Speaker 3: for five years this week, five years, so you should 62 00:02:43,919 --> 00:02:44,800 Speaker 3: be used to it by now. 63 00:02:45,120 --> 00:02:48,760 Speaker 1: Okay, fine, ask hamm of me. Why don't you go 64 00:02:48,840 --> 00:02:50,240 Speaker 1: for it? Story? 65 00:02:50,520 --> 00:02:52,800 Speaker 2: Two words? Interest? 66 00:02:55,200 --> 00:02:55,760 Speaker 1: You finished? 67 00:02:56,000 --> 00:02:56,800 Speaker 2: Yep? I hope to you. 68 00:02:56,840 --> 00:02:59,160 Speaker 1: Michael, are you really done well all? 69 00:02:59,200 --> 00:03:03,600 Speaker 2: I'd like to say, Michael, are you happier today that 70 00:03:03,639 --> 00:03:05,040 Speaker 2: you're going to be paying a lower interest rate in 71 00:03:05,080 --> 00:03:05,720 Speaker 2: your mortgage? 72 00:03:05,800 --> 00:03:07,440 Speaker 1: Absolutely? I am, yes, Jean. 73 00:03:07,320 --> 00:03:09,160 Speaker 2: Adam, are you happier that you'll be paying a lower. 74 00:03:08,960 --> 00:03:13,680 Speaker 3: Interest How happy is enough to describe it? Reliebsolutely? Absolutely? Yeah. 75 00:03:13,840 --> 00:03:15,920 Speaker 2: Joy Rosanna, who has a benefit of being more than 76 00:03:15,919 --> 00:03:18,040 Speaker 2: twenty five years younger than me. You know, if you 77 00:03:18,120 --> 00:03:20,040 Speaker 2: were to buy a house, would you be happier with 78 00:03:20,120 --> 00:03:24,200 Speaker 2: lower rather than higher interest rates. She's nodding, she's noting. There. Yep. 79 00:03:24,600 --> 00:03:28,359 Speaker 2: I'm certainly deliriously happy. Two interest rate cuts we've had 80 00:03:28,400 --> 00:03:30,040 Speaker 2: now we found out this week we might get another 81 00:03:30,080 --> 00:03:33,920 Speaker 2: couple later this year. The Reserve Bank Board met. What 82 00:03:34,160 --> 00:03:38,240 Speaker 2: was interesting in its statement and Governor Michelle Bullock's comments afterwards, 83 00:03:38,640 --> 00:03:43,440 Speaker 2: there's just less emphasis on inflation. They seem to think 84 00:03:43,880 --> 00:03:47,720 Speaker 2: that it's into under control, kind of not victorious, but 85 00:03:47,880 --> 00:03:51,400 Speaker 2: certainly relieved. More talk about economic growth and the need 86 00:03:51,480 --> 00:03:53,920 Speaker 2: to jumps out the economy. That means lower interest rates. 87 00:03:54,640 --> 00:03:58,080 Speaker 2: Biggest story of the week, biggest story of the month, 88 00:03:58,560 --> 00:04:02,680 Speaker 2: possibly equal biggest story of the year. In February, we 89 00:04:02,680 --> 00:04:03,760 Speaker 2: had interest rate cuts as well. 90 00:04:05,040 --> 00:04:09,360 Speaker 1: Beat that, Michael, you damaged your own credibility just then 91 00:04:09,440 --> 00:04:12,200 Speaker 1: with the end of it, just then with this suggestion, 92 00:04:12,440 --> 00:04:15,120 Speaker 1: which that that is the biggest story of the year, 93 00:04:15,960 --> 00:04:18,800 Speaker 1: because I've made that claim four times so far this year, 94 00:04:19,400 --> 00:04:21,480 Speaker 1: and each time you have said you were damaging your 95 00:04:21,520 --> 00:04:22,920 Speaker 1: own credibility. 96 00:04:22,360 --> 00:04:24,120 Speaker 2: Here, But that's because I've only made it once. 97 00:04:24,520 --> 00:04:29,880 Speaker 1: Okay, there you okay, Look, interest rates was interesting, it 98 00:04:29,960 --> 00:04:35,040 Speaker 1: was exciting, but we knew it was going to happen, 99 00:04:35,520 --> 00:04:36,400 Speaker 1: didn't we. 100 00:04:36,400 --> 00:04:37,960 Speaker 2: We all knew the election. 101 00:04:38,480 --> 00:04:42,000 Speaker 1: Yes I'm not talking about the election. We knew rate 102 00:04:42,080 --> 00:04:44,760 Speaker 1: cuts were coming. Everyone was expecting it. It was so 103 00:04:44,920 --> 00:04:47,960 Speaker 1: widely tipped it was just okay, it was your story 104 00:04:48,080 --> 00:04:52,040 Speaker 1: or just it's just I'm attacking Sean's. It's just I'm 105 00:04:52,080 --> 00:04:56,840 Speaker 1: just warming up. What nobody was expecting this week was 106 00:04:56,920 --> 00:05:01,640 Speaker 1: the coalition to blow itself up, the Libs and the 107 00:05:01,720 --> 00:05:04,440 Speaker 1: Nats splitting for just the third time in eighty years, 108 00:05:04,520 --> 00:05:06,919 Speaker 1: until they didn't actually split, and they paused all of that, 109 00:05:06,960 --> 00:05:09,680 Speaker 1: and anyway, look that's a minor irrelevant detail, the fact 110 00:05:09,720 --> 00:05:13,839 Speaker 1: that it didn't end up happening. What did happen here? 111 00:05:13,880 --> 00:05:14,400 Speaker 1: Talk about? 112 00:05:14,600 --> 00:05:17,280 Speaker 2: At least you could leave that part till the end 113 00:05:17,320 --> 00:05:19,080 Speaker 2: of your discussion, that fact that it didn't happen. 114 00:05:19,240 --> 00:05:20,480 Speaker 1: No, no, no, no, I got to get it out of 115 00:05:20,520 --> 00:05:23,840 Speaker 1: the way early so that then you will again, no, 116 00:05:23,920 --> 00:05:25,920 Speaker 1: you'll forget that. I said, if I finish on it, 117 00:05:26,240 --> 00:05:28,280 Speaker 1: then it's the thing that remains in Adam's mind, and 118 00:05:28,279 --> 00:05:31,880 Speaker 1: then you mark me down for it. So I was actually, yeah, no, indeed. 119 00:05:32,000 --> 00:05:35,560 Speaker 1: So you've got Susan Lee, new Liberals leader, You've got 120 00:05:35,640 --> 00:05:39,599 Speaker 1: David Little Proud Nationals leader, and they disagreed on policy. 121 00:05:39,600 --> 00:05:43,760 Speaker 1: But basically Susan Lee needs to get her party organized. 122 00:05:43,760 --> 00:05:48,280 Speaker 1: She's come into this. They had an absolute schalacking at 123 00:05:48,320 --> 00:05:50,800 Speaker 1: the election. Need to figure out what the Liberals stand for. 124 00:05:51,120 --> 00:05:53,400 Speaker 1: Need a bit of time to do that. David Little 125 00:05:53,400 --> 00:05:57,320 Speaker 1: Proud wanting the Nationals and the Liberals to sign off 126 00:05:57,320 --> 00:05:59,880 Speaker 1: on these policy areas that they don't necessarily agree on 127 00:06:00,080 --> 00:06:03,480 Speaker 1: this point, in terms of like energy policy, nuclear the 128 00:06:03,960 --> 00:06:06,440 Speaker 1: powers to split up supermarkets, all these kinds of things. 129 00:06:06,520 --> 00:06:09,560 Speaker 1: The word that they used, divestiture. Thank you, yes, I'm 130 00:06:09,600 --> 00:06:12,600 Speaker 1: happy to say. Did you think I was deliberately skirting 131 00:06:12,600 --> 00:06:12,880 Speaker 1: a week? 132 00:06:13,040 --> 00:06:16,960 Speaker 2: All week I've struggled with that word, not stuffed it up, 133 00:06:17,040 --> 00:06:18,840 Speaker 2: and then you skirted it. I thought you're not going 134 00:06:18,920 --> 00:06:19,320 Speaker 2: to say it. 135 00:06:19,360 --> 00:06:23,320 Speaker 1: No, no, you're not going to catch me today. You 136 00:06:23,400 --> 00:06:27,440 Speaker 1: probably will actually, But look anyway, and this came to 137 00:06:27,480 --> 00:06:31,000 Speaker 1: a head big time and quite unexpectedly, and it blew up. 138 00:06:31,360 --> 00:06:34,160 Speaker 1: I thought the coalition was gone. Then there was a pause, 139 00:06:34,279 --> 00:06:38,440 Speaker 1: a lot of lobbying internally, there was meetings, more meetings 140 00:06:38,440 --> 00:06:41,840 Speaker 1: to establish policy. There was opposition within the National Party 141 00:06:41,880 --> 00:06:45,160 Speaker 1: to the decision to do it anyway. Towards the end 142 00:06:45,160 --> 00:06:46,760 Speaker 1: of the week, look we all know that a deal 143 00:06:46,839 --> 00:06:48,719 Speaker 1: is going to be done here. It is going to 144 00:06:48,720 --> 00:06:51,960 Speaker 1: be okay. The Coalition will survive, of course they will. 145 00:06:52,360 --> 00:06:55,719 Speaker 1: But the damage has surely been done here, Like you 146 00:06:55,839 --> 00:06:56,320 Speaker 1: need to be. 147 00:06:56,279 --> 00:06:58,280 Speaker 2: Presenting the damage was done during the election. 148 00:06:58,600 --> 00:07:01,320 Speaker 1: Well, that was the damage to the to the Liberals. 149 00:07:01,360 --> 00:07:03,640 Speaker 1: I think this has done damage to the perception of 150 00:07:03,680 --> 00:07:05,719 Speaker 1: the Nationals as well and to the perception of the 151 00:07:05,720 --> 00:07:08,560 Speaker 1: Coalition overall. And I would say you would have to 152 00:07:08,600 --> 00:07:11,600 Speaker 1: think that that David Little Proud is on borrow time 153 00:07:11,800 --> 00:07:14,880 Speaker 1: here because of the opposition within his own party to 154 00:07:14,920 --> 00:07:15,680 Speaker 1: what he has done. 155 00:07:16,080 --> 00:07:20,880 Speaker 2: And it pays the midpart from Barnaby Joyce, yeah, Michael Mccormichael. 156 00:07:20,400 --> 00:07:25,440 Speaker 1: McCormack, yep. Do Barancester, Yeah, it's pretty much everyone opposed 157 00:07:25,480 --> 00:07:31,880 Speaker 1: it anyway, a debarcle, a circus. It was just extraordinary. 158 00:07:32,120 --> 00:07:34,560 Speaker 1: No one was expecting this. This was the biggest story 159 00:07:34,600 --> 00:07:36,920 Speaker 1: in politics. And the fact that this then affects so 160 00:07:37,000 --> 00:07:39,800 Speaker 1: many people in this country and it was not expected, 161 00:07:39,800 --> 00:07:42,280 Speaker 1: whereas interest rates and other things were expected. 162 00:07:43,000 --> 00:07:44,800 Speaker 2: How does it affect so many people in the country 163 00:07:44,840 --> 00:07:46,560 Speaker 2: in ways in. 164 00:07:46,080 --> 00:07:48,320 Speaker 1: Ways that I cannot They are so numerous that I 165 00:07:48,320 --> 00:07:50,600 Speaker 1: cannot possibly get through we're trying to do this quickly. 166 00:07:50,640 --> 00:07:52,400 Speaker 1: Sean stop Adam. 167 00:07:53,400 --> 00:07:58,640 Speaker 3: Okay, Sean wins So and Michelle Bullock and the RBA 168 00:07:59,160 --> 00:08:02,560 Speaker 3: so impressed. I think really and I you know, as 169 00:08:02,560 --> 00:08:05,560 Speaker 3: a punter in this country, I feel great comfort that 170 00:08:05,640 --> 00:08:07,240 Speaker 3: they've got their hands on the tiller. I think they're 171 00:08:07,280 --> 00:08:08,680 Speaker 3: doing a terrific job. 172 00:08:10,600 --> 00:08:12,080 Speaker 1: So the real wait to hear is the RBA. 173 00:08:12,840 --> 00:08:15,400 Speaker 2: I'm really happy that Michelle Bullock and the team have 174 00:08:15,480 --> 00:08:17,160 Speaker 2: got their hands on the tiller. 175 00:08:17,360 --> 00:08:21,280 Speaker 3: Yes, and that they have my support. I'm sure they 176 00:08:21,360 --> 00:08:22,280 Speaker 3: get a great comfort. 177 00:08:22,720 --> 00:08:25,520 Speaker 1: Can you imagine if the RBA, when they have their 178 00:08:25,680 --> 00:08:28,520 Speaker 1: their meetings, first thing they do is go back and 179 00:08:28,560 --> 00:08:31,080 Speaker 1: listen to what was what was said on fear. Let's 180 00:08:31,080 --> 00:08:34,199 Speaker 1: listen to the weekend edition. Team. I wish that Michael 181 00:08:34,240 --> 00:08:38,200 Speaker 1: Thompson would shut up the nationals. 182 00:08:38,440 --> 00:08:41,800 Speaker 3: What an act of self sabotage. What do you call it? Nihilism? 183 00:08:41,960 --> 00:08:45,960 Speaker 3: You know, when you're just eating just dumbfounding set of 184 00:08:46,000 --> 00:08:49,080 Speaker 3: decisions were made and what a horrible week So look 185 00:08:49,120 --> 00:08:52,559 Speaker 3: a massive story as the spectacle, but I think obviously 186 00:08:52,600 --> 00:08:55,080 Speaker 3: interest rates have the most profound impact on the economy. 187 00:08:55,440 --> 00:09:02,880 Speaker 1: That's probably okay, as long as it was fairly close. Yes, God, 188 00:09:02,920 --> 00:09:05,080 Speaker 1: the little twitch in the eye round there suggested that 189 00:09:05,120 --> 00:09:07,439 Speaker 1: you might be lying to me, Adam. Okay, let's move 190 00:09:07,480 --> 00:09:10,520 Speaker 1: on to most remarkable stories, shall we? May I go 191 00:09:10,600 --> 00:09:14,720 Speaker 1: first first? I think it is remarkable the way that 192 00:09:14,800 --> 00:09:19,000 Speaker 1: Donald Trump right appears to have left Ukraine in the 193 00:09:19,080 --> 00:09:25,320 Speaker 1: lurch this week, Okay, started reasonably strong. He had phone 194 00:09:25,360 --> 00:09:28,840 Speaker 1: calls at the beginning of the week with Vladimir Putin 195 00:09:29,000 --> 00:09:32,280 Speaker 1: and with Vladimir Zelenski, really kind of laying the groundwork 196 00:09:32,320 --> 00:09:35,720 Speaker 1: for peace talks. Then there was the post on I 197 00:09:35,760 --> 00:09:37,880 Speaker 1: think it was on Truth Social I'm assuming it was. 198 00:09:38,080 --> 00:09:40,760 Speaker 1: There's probably capital letters in it, where he said Russia 199 00:09:40,760 --> 00:09:44,600 Speaker 1: and Ukraine will immediately start negotiations towards a ceasefire and 200 00:09:44,640 --> 00:09:49,520 Speaker 1: more importantly, an end to the war. It wasn't, which 201 00:09:49,520 --> 00:09:55,079 Speaker 1: sounds very promising. It wasn't as strong a commitment from Putin, 202 00:09:55,360 --> 00:09:58,600 Speaker 1: who basically said that, yes, Russia will work with Ukraine 203 00:09:58,679 --> 00:10:01,840 Speaker 1: on kind of a memorandum to frame future talks that 204 00:10:01,960 --> 00:10:04,360 Speaker 1: might include the potential for a ceasefire for a certain 205 00:10:04,400 --> 00:10:06,920 Speaker 1: period of time, Like, you cannot get any looser than that, right. 206 00:10:07,640 --> 00:10:10,760 Speaker 1: The thing here, though, is that Trump from day one 207 00:10:10,880 --> 00:10:14,120 Speaker 1: has said that he will stop the war, and he 208 00:10:14,160 --> 00:10:16,160 Speaker 1: would do it in his first week. I remember he 209 00:10:16,200 --> 00:10:16,960 Speaker 1: talked about this. 210 00:10:16,920 --> 00:10:18,600 Speaker 2: Year twenty four hours, yeah, and then he pushed it 211 00:10:18,600 --> 00:10:19,160 Speaker 2: out to a week. 212 00:10:19,240 --> 00:10:21,040 Speaker 1: Yeah, and he talked about that. It was one of 213 00:10:21,040 --> 00:10:23,480 Speaker 1: the big key claims that he made, particularly during the 214 00:10:23,520 --> 00:10:26,440 Speaker 1: debates that they had. And now all of a sudden 215 00:10:26,640 --> 00:10:29,959 Speaker 1: he said this week, he goes big. He told reporters this, 216 00:10:30,000 --> 00:10:32,880 Speaker 1: big egos are involved. But I think something's going to happen. 217 00:10:33,400 --> 00:10:35,680 Speaker 1: And if it doesn't, and this is the key here, 218 00:10:36,360 --> 00:10:39,920 Speaker 1: and if it doesn't, I'll just back away and they'll 219 00:10:39,920 --> 00:10:43,199 Speaker 1: have to keep going. This was a European situation. It 220 00:10:43,280 --> 00:10:45,280 Speaker 1: should have remained a European situation. 221 00:10:45,880 --> 00:10:48,640 Speaker 2: I'm not sure why he got involved. 222 00:10:48,679 --> 00:10:55,120 Speaker 1: Then what a betrayal of Ukraine and Vladimir Olenski actually, 223 00:10:55,120 --> 00:10:58,160 Speaker 1: who basically said that then basically, if you walk away 224 00:10:58,200 --> 00:11:00,240 Speaker 1: from this, the only person that's going to benefit out 225 00:11:00,240 --> 00:11:03,679 Speaker 1: of this will be Putin and Russia. Donald Trump has 226 00:11:03,720 --> 00:11:06,920 Speaker 1: suggested that the Vatican could play a key role in well, 227 00:11:06,960 --> 00:11:10,000 Speaker 1: providing a site for the talks to go, but I mean, 228 00:11:10,000 --> 00:11:12,000 Speaker 1: that's no replacement to having the leader of the free 229 00:11:12,040 --> 00:11:14,559 Speaker 1: world there trying to negotiate a peace agreement, right, And 230 00:11:14,720 --> 00:11:16,400 Speaker 1: I just think that is remarkable, the way that he 231 00:11:16,840 --> 00:11:19,040 Speaker 1: has done and about face this week and. 232 00:11:19,040 --> 00:11:21,080 Speaker 2: Abandoned still the leader of the free world. 233 00:11:21,640 --> 00:11:25,440 Speaker 1: It's a good question actually, And even this like that 234 00:11:25,600 --> 00:11:27,920 Speaker 1: is him basically saying, no, that's not us, it's Europe. 235 00:11:28,200 --> 00:11:29,920 Speaker 1: Turn to Europe. That's where the leader of the free 236 00:11:29,920 --> 00:11:32,319 Speaker 1: world is now, it's the German chancellor, or it's the 237 00:11:32,640 --> 00:11:36,520 Speaker 1: head of the EU. Take your pick. It's first Lavonde 238 00:11:36,559 --> 00:11:40,640 Speaker 1: len well done, nicely done, anyway, remarkable. This is a 239 00:11:40,720 --> 00:11:41,920 Speaker 1: very serious story. 240 00:11:41,679 --> 00:11:45,360 Speaker 2: That you forget that done, That looked, it's remarkable all 241 00:11:45,360 --> 00:11:49,160 Speaker 2: that stuff, what's really remarkable? So sorry, what the categories again? 242 00:11:49,240 --> 00:11:50,160 Speaker 2: What are you looking for? 243 00:11:50,280 --> 00:11:56,640 Speaker 3: Okay, topicality and timeliness, obviously, economic impactic, subjective bias and 244 00:11:56,880 --> 00:11:57,960 Speaker 3: a little bit of melodrama. 245 00:11:58,480 --> 00:12:05,439 Speaker 2: Well at home, Adam Lane, tell me, do you or 246 00:12:05,559 --> 00:12:09,200 Speaker 2: your superation fund own common Wealth Bank shares? Yes, where's 247 00:12:09,240 --> 00:12:15,760 Speaker 2: Farmer's shares, Coal shares, qb E shares, Technology one shares? 248 00:12:19,080 --> 00:12:23,440 Speaker 2: You are a winner? Do you know why? Please call 249 00:12:23,559 --> 00:12:27,760 Speaker 2: me all those companies. Notwithstanding all the garbage that Michael 250 00:12:27,840 --> 00:12:31,200 Speaker 2: was going on about, all the geo political uncertainty, all 251 00:12:31,280 --> 00:12:34,600 Speaker 2: the fear in financial markets, all the loathing, the fear 252 00:12:34,640 --> 00:12:36,040 Speaker 2: and the greed in fact loathing. 253 00:12:36,960 --> 00:12:39,800 Speaker 1: To me, this is disgrace. 254 00:12:40,080 --> 00:12:40,360 Speaker 3: Is this? 255 00:12:40,400 --> 00:12:43,040 Speaker 1: What is this what I look like when I get 256 00:12:43,040 --> 00:12:43,640 Speaker 1: carried away? 257 00:12:44,320 --> 00:12:46,200 Speaker 3: It's kind of oh dear. 258 00:12:48,080 --> 00:12:52,720 Speaker 2: Let's ignore him anyway. All those stocks training at or 259 00:12:52,880 --> 00:13:00,600 Speaker 2: near record highs despite what's going on. Commonwealth Bank it's 260 00:13:00,600 --> 00:13:03,440 Speaker 2: come off a little bit two hundred and ninety billion 261 00:13:03,440 --> 00:13:09,040 Speaker 2: dollars dollars, about fifty percent bigger than BHP. You we've 262 00:13:09,040 --> 00:13:11,200 Speaker 2: said this before. You put National Australian Bank, Westpac, A 263 00:13:11,240 --> 00:13:13,600 Speaker 2: and Z together, they come in at about three ten 264 00:13:13,720 --> 00:13:18,080 Speaker 2: three twenty come off banks two ninety. So the other 265 00:13:18,200 --> 00:13:20,440 Speaker 2: three big banks are about the same size as commof Bank. 266 00:13:20,480 --> 00:13:22,920 Speaker 2: That's not part of my argument. All I'm saying today 267 00:13:23,280 --> 00:13:28,920 Speaker 2: right now is it is quite remarkable how well these 268 00:13:29,000 --> 00:13:33,200 Speaker 2: companies are doing now. They're kind of an eclectic bunch 269 00:13:33,240 --> 00:13:40,360 Speaker 2: of companies, although analysts argue good leadership, good settled strategy, 270 00:13:41,080 --> 00:13:44,160 Speaker 2: and good communications. So they do that and they have 271 00:13:44,360 --> 00:13:48,240 Speaker 2: this incredible boom. Now some of them, like come West Farmers, 272 00:13:48,280 --> 00:13:50,760 Speaker 2: they've got cam Up working really well, They've got Bunning's 273 00:13:50,760 --> 00:13:53,720 Speaker 2: working really well. Come Off Bank. Everyone just loves coals. 274 00:13:53,760 --> 00:13:56,679 Speaker 2: Without doing it's made its competitor Woollies. So there's sort 275 00:13:56,679 --> 00:13:59,559 Speaker 2: of individual reasons as well, but quite remarkable how well 276 00:13:59,600 --> 00:14:02,520 Speaker 2: they've done over the year. Michael, wake up, wake up. 277 00:14:02,720 --> 00:14:03,840 Speaker 1: Oh that was very. 278 00:14:03,720 --> 00:14:08,080 Speaker 3: Long speaconomic impact. He is, so Sean is pointing to 279 00:14:08,280 --> 00:14:12,560 Speaker 3: obviously very high performance from Australian companies in a variety 280 00:14:12,600 --> 00:14:13,160 Speaker 3: of industries. 281 00:14:13,280 --> 00:14:15,640 Speaker 1: Good summer, and you could have tried. 282 00:14:15,440 --> 00:14:22,320 Speaker 3: That, which I think in such a disruptive it's disruptive 283 00:14:22,440 --> 00:14:25,680 Speaker 3: environment right where the share markets around the world have 284 00:14:25,720 --> 00:14:29,920 Speaker 3: been disrupted by tariffs, et cetera. This is incredible performance 285 00:14:29,920 --> 00:14:32,000 Speaker 3: most some Australian companies and right through to our own 286 00:14:32,040 --> 00:14:36,120 Speaker 3: superannuation balances, we haven't lost. We've done well right through 287 00:14:36,160 --> 00:14:40,360 Speaker 3: this period. But yeah, there is a but, Michael, you 288 00:14:40,440 --> 00:14:45,080 Speaker 3: win because to me, this is Trump remarkably saying I 289 00:14:45,080 --> 00:14:46,960 Speaker 3: could fix this within a week, as you said, Sean, 290 00:14:47,040 --> 00:14:48,920 Speaker 3: Initially it was I'll do it in a day. You know, 291 00:14:48,920 --> 00:14:51,960 Speaker 3: it's very boastful comment, and then he's figured out it's 292 00:14:52,000 --> 00:14:53,880 Speaker 3: actually a little more complex than he. 293 00:14:54,120 --> 00:14:57,320 Speaker 2: Hold On, hold on, does this suggest Adam alang genius 294 00:14:57,600 --> 00:14:59,400 Speaker 2: that you thought he was going to fix it in 295 00:14:59,440 --> 00:15:02,600 Speaker 2: a week? So have you only just realized that actually 296 00:15:02,640 --> 00:15:06,120 Speaker 2: what he said turned out to be wrong For Maga, 297 00:15:06,440 --> 00:15:07,120 Speaker 2: I can't believe it. 298 00:15:11,040 --> 00:15:14,600 Speaker 1: But the fact very personal. Literally picked up his. 299 00:15:14,680 --> 00:15:18,640 Speaker 2: New plane right from one which was which wasn't part 300 00:15:18,680 --> 00:15:19,440 Speaker 2: of Michael's story. 301 00:15:19,520 --> 00:15:21,920 Speaker 3: No not, but then he's gone home and said, look, 302 00:15:22,040 --> 00:15:24,480 Speaker 3: I'm out of here, over to you guys. Don't stuff 303 00:15:24,480 --> 00:15:29,120 Speaker 3: it up. It's like, oh no, utterly remarkable. So, yeah, 304 00:15:29,160 --> 00:15:30,200 Speaker 3: you went on this one, Michael. 305 00:15:30,360 --> 00:15:32,760 Speaker 2: Do you think not that I want to take the judge, 306 00:15:32,840 --> 00:15:34,720 Speaker 2: but do you think he deliberately goes one one at 307 00:15:34,720 --> 00:15:35,080 Speaker 2: the break? 308 00:15:35,480 --> 00:15:38,520 Speaker 1: I think he does. It's the showmanship. This is this 309 00:15:38,560 --> 00:15:42,440 Speaker 1: is Adam's melodrama, right, His melodrama comes about me. It 310 00:15:42,480 --> 00:15:45,040 Speaker 1: comes through on the score sheet. No, because you go 311 00:15:45,200 --> 00:15:48,080 Speaker 1: you know what, this will heighten the suspense. Don't peek 312 00:15:48,200 --> 00:15:49,760 Speaker 1: at the score sheet, Sean Aylmer. 313 00:15:49,840 --> 00:15:51,800 Speaker 2: Now, I'm actually trying to find something that will tell 314 00:15:51,800 --> 00:15:53,920 Speaker 2: me how long we've gone, so that we don't. 315 00:15:53,760 --> 00:15:56,080 Speaker 1: Go for too much, like, well, we'll take we haven't 316 00:15:56,080 --> 00:15:57,440 Speaker 1: gone too long, but we're going to take a very 317 00:15:57,520 --> 00:15:59,680 Speaker 1: quick break and we'll come back very speedily and do 318 00:15:59,720 --> 00:16:03,280 Speaker 1: a very short second half. With the mystery category of 319 00:16:03,320 --> 00:16:12,920 Speaker 1: the week. All right, Sean, we have our mystery category. 320 00:16:12,920 --> 00:16:16,760 Speaker 1: Now we change this every week just so that Adam, Yeah, 321 00:16:16,840 --> 00:16:20,400 Speaker 1: so you can't anticipate in kind of prejudge. I don't 322 00:16:20,440 --> 00:16:24,320 Speaker 1: know whether you would actually do that. The category this 323 00:16:24,360 --> 00:16:29,000 Speaker 1: week is a very very it's a niche with great category. 324 00:16:29,600 --> 00:16:31,040 Speaker 2: It's less and less niche. 325 00:16:31,080 --> 00:16:33,960 Speaker 1: That's a good point. We have noticed that there is 326 00:16:34,000 --> 00:16:36,600 Speaker 1: a bit of a trend right of leaders, and not 327 00:16:36,800 --> 00:16:40,800 Speaker 1: just political leaders, but business leaders as well, who are 328 00:16:40,840 --> 00:16:46,080 Speaker 1: starting to sound a little bit like Donald J. Trump, 329 00:16:47,360 --> 00:16:52,480 Speaker 1: and so we have put together an entry each of leaders. 330 00:16:52,360 --> 00:16:54,760 Speaker 2: Business leaders sounding like Donald Trump. 331 00:16:55,520 --> 00:16:57,840 Speaker 1: It's the category now it's narrow. 332 00:16:58,920 --> 00:17:03,440 Speaker 2: Well, that's the point, getting less narrow. Would you like 333 00:17:03,480 --> 00:17:05,920 Speaker 2: me to go first please. We had fortes Q Metal's 334 00:17:05,920 --> 00:17:10,040 Speaker 2: boss Andrew Forrest speaking this week at the Australian Financial 335 00:17:10,080 --> 00:17:14,359 Speaker 2: Reviews Mining Conference in Perth. His point that it was 336 00:17:14,359 --> 00:17:17,720 Speaker 2: trying to make was that iron ore producers like Fortisu 337 00:17:17,800 --> 00:17:20,159 Speaker 2: as well as BHP and Rio Tinto need to be 338 00:17:20,240 --> 00:17:23,679 Speaker 2: careful because China is looking for green steel iron. All 339 00:17:23,760 --> 00:17:25,879 Speaker 2: that comes out of Africa and Brazil and places like 340 00:17:25,920 --> 00:17:31,800 Speaker 2: that is more, it's higher grade. Therefore it creates greener steel. 341 00:17:32,160 --> 00:17:34,800 Speaker 2: So his point was Australian iron ore mine is better 342 00:17:34,880 --> 00:17:37,880 Speaker 2: be careful because our iron ore comes from minds which 343 00:17:37,880 --> 00:17:42,280 Speaker 2: are old, lower grade. We've got some problems. When he 344 00:17:42,359 --> 00:17:47,480 Speaker 2: was describing this, he said, Rio tinto HP. They talk 345 00:17:47,560 --> 00:17:52,359 Speaker 2: a big game, but everyone is going down. Is that 346 00:17:52,440 --> 00:17:55,399 Speaker 2: not Trumpez, It's good. He then said, the choice is 347 00:17:55,400 --> 00:17:58,280 Speaker 2: getting made now and we don't have time to lose. 348 00:18:00,080 --> 00:18:03,160 Speaker 2: They're going to shut down the old fashioned, two century 349 00:18:03,160 --> 00:18:06,280 Speaker 2: old technology of burning sticks and logs, putting in coal, 350 00:18:06,400 --> 00:18:09,320 Speaker 2: putting in iron, or burning it all and sending up 351 00:18:09,400 --> 00:18:14,119 Speaker 2: masses of pollution into the atmosphere and producing steel beautiful 352 00:18:14,160 --> 00:18:17,160 Speaker 2: Trump esque style words. The great thing at the back 353 00:18:17,160 --> 00:18:19,960 Speaker 2: of the room when he was talking Ian McFarland, former 354 00:18:20,080 --> 00:18:23,560 Speaker 2: Federal Resources minister, now on the woodside board woodside of 355 00:18:23,600 --> 00:18:28,639 Speaker 2: course being a fossil fuel organization. The quote from Ian McFarlane, 356 00:18:28,720 --> 00:18:30,320 Speaker 2: I sat up the back of the room this morning 357 00:18:30,359 --> 00:18:33,119 Speaker 2: and I texted someone and said I'm about to vomit. 358 00:18:36,000 --> 00:18:41,760 Speaker 2: He then blasted He then blasted Forest, saying that no 359 00:18:41,800 --> 00:18:43,679 Speaker 2: one in the business community likes him, and when he 360 00:18:43,720 --> 00:18:47,200 Speaker 2: used to come and visit McFarlane when McFarland's a politician, 361 00:18:47,520 --> 00:18:49,440 Speaker 2: other business leaders would come in after in saying, way 362 00:18:49,440 --> 00:18:51,919 Speaker 2: you're talking to that guy? So you know, there was 363 00:18:52,000 --> 00:18:57,440 Speaker 2: expletives and all that. Then Andrew Forrest's office issued a statement. 364 00:18:58,160 --> 00:19:02,359 Speaker 2: He said McFarlane led a tribe of people who are 365 00:19:02,359 --> 00:19:06,359 Speaker 2: incapable of improvement innovasion. It's sad to see an old 366 00:19:06,440 --> 00:19:12,080 Speaker 2: fossil fuel guy lose his marbles with fictitious quotes in stories. 367 00:19:12,560 --> 00:19:20,000 Speaker 2: End quote therein is my nomination for the trump esque 368 00:19:20,000 --> 00:19:23,760 Speaker 2: sounding CEO of over to you, Mike. 369 00:19:24,040 --> 00:19:28,400 Speaker 1: Okay mine. It was almost inevitable that this particular individual 370 00:19:28,480 --> 00:19:31,680 Speaker 1: would start sounding like Donald Trump because he has spent 371 00:19:31,720 --> 00:19:34,320 Speaker 1: a lot of time with Donald Trump. It is Elon 372 00:19:34,440 --> 00:19:38,040 Speaker 1: Musk who this week said that he is committed to 373 00:19:38,080 --> 00:19:40,439 Speaker 1: still leading Tesla. It's been under a lot of pressure, 374 00:19:40,560 --> 00:19:42,879 Speaker 1: The company has been under a lot of pressure, but 375 00:19:42,960 --> 00:19:44,240 Speaker 1: he says he's still going to be doing it five 376 00:19:44,320 --> 00:19:46,640 Speaker 1: years from now. He did an interview with Bloomberg through 377 00:19:46,640 --> 00:19:48,159 Speaker 1: the week, and there are a few bits and pieces 378 00:19:48,160 --> 00:19:52,320 Speaker 1: that came out of this. He criticized a whole bunch 379 00:19:52,400 --> 00:19:55,280 Speaker 1: of people, which is a very trump Esque thing to do, 380 00:19:55,840 --> 00:19:57,760 Speaker 1: especially when he considered that one of the people that 381 00:19:57,800 --> 00:20:01,200 Speaker 1: he attacked in this interview was a judge who ruled 382 00:20:01,200 --> 00:20:04,199 Speaker 1: against the Tesla pay package, and we do know a 383 00:20:04,280 --> 00:20:07,240 Speaker 1: current president who does have a bit of a fondness 384 00:20:07,240 --> 00:20:11,639 Speaker 1: for criticizing judges. So that's one big tick. Donald Trump 385 00:20:12,320 --> 00:20:15,960 Speaker 1: elon Musk very similar. He said that he has already 386 00:20:16,000 --> 00:20:19,560 Speaker 1: turned around Tesla, saying that while the company might be 387 00:20:19,600 --> 00:20:23,200 Speaker 1: losing some sales on the political left, that it's gaining 388 00:20:23,200 --> 00:20:26,080 Speaker 1: others on the right. Okay. He then though, went on 389 00:20:26,119 --> 00:20:29,879 Speaker 1: to talk about the protests against Tesla, against the company, 390 00:20:29,920 --> 00:20:31,760 Speaker 1: and he says that those protests are on the wrong 391 00:20:31,760 --> 00:20:35,320 Speaker 1: side of history and that they have committed quote massive 392 00:20:35,600 --> 00:20:39,040 Speaker 1: violence against against the against the company. The thing is 393 00:20:39,320 --> 00:20:41,760 Speaker 1: he is actually right, and the thing that there has 394 00:20:41,880 --> 00:20:45,320 Speaker 1: been an extraordinary amount of violence against that company and 395 00:20:45,400 --> 00:20:47,680 Speaker 1: against the symbols of that company. There's been kind of 396 00:20:47,720 --> 00:20:50,480 Speaker 1: bullets and Molodz cocktails and there have been there have 397 00:20:50,520 --> 00:20:54,919 Speaker 1: been cars set on fire that shouldn't be happening like this. 398 00:20:55,000 --> 00:20:57,560 Speaker 1: That is extraordinary and it is wrong. But it's just 399 00:20:57,560 --> 00:21:00,560 Speaker 1: the way that he describes it massive violence. In the 400 00:21:00,600 --> 00:21:04,160 Speaker 1: same interview where he criticizes a judge for a decision, 401 00:21:04,400 --> 00:21:06,840 Speaker 1: it is just like, who have you been hanging around with? 402 00:21:07,080 --> 00:21:09,800 Speaker 1: I'm guessing it might be Donald Trump because those are 403 00:21:09,800 --> 00:21:13,080 Speaker 1: two moves that are straight out of the Trump playbook, right. 404 00:21:13,040 --> 00:21:14,520 Speaker 2: Mind you. I'd like to say that, at least with 405 00:21:14,600 --> 00:21:17,399 Speaker 2: my entry, Andrew Forrest has had nothing to do with 406 00:21:17,440 --> 00:21:19,560 Speaker 2: Donald Trump. It is starting this out much. 407 00:21:19,600 --> 00:21:23,680 Speaker 1: Yeah, it's just it just rubs off on people, right anyway, Adam, 408 00:21:23,720 --> 00:21:26,800 Speaker 1: there is it? Sorry, Okay, so we must get be surprised. 409 00:21:27,160 --> 00:21:29,960 Speaker 3: I think they've been kindred spirits for some time, you know, 410 00:21:30,040 --> 00:21:32,160 Speaker 3: and the fact that they actually lasted together. 411 00:21:32,240 --> 00:21:32,600 Speaker 2: News for you. 412 00:21:32,800 --> 00:21:33,800 Speaker 1: He's starting on me. 413 00:21:34,119 --> 00:21:38,480 Speaker 3: Yeah, they lasted this long together is in itself remarkable. 414 00:21:38,720 --> 00:21:41,280 Speaker 3: You know. Some said it wouldn't last even this long. 415 00:21:42,040 --> 00:21:44,439 Speaker 3: So I find it kind of a consistent thing. Whereas 416 00:21:44,480 --> 00:21:47,280 Speaker 3: Andrew Forrest, I think he's lifted his game. He's always 417 00:21:47,280 --> 00:21:50,240 Speaker 3: been provoking, yet right and very strong and look what 418 00:21:50,240 --> 00:21:53,840 Speaker 3: he's achieved incredible, right, But some of those statements he's 419 00:21:53,880 --> 00:21:57,320 Speaker 3: clearly out on his own a long way, and just 420 00:21:57,400 --> 00:22:00,280 Speaker 3: the grand and assertive and so confident nature of it. 421 00:22:00,280 --> 00:22:02,320 Speaker 3: It's like, yeah, I reckon there was a little bit 422 00:22:02,359 --> 00:22:03,359 Speaker 3: of Trump in the waters. 423 00:22:03,440 --> 00:22:05,800 Speaker 2: It's sad to see an old fossil fuel guy lose 424 00:22:05,920 --> 00:22:08,560 Speaker 2: his marbles with fictitious quotes and stories. 425 00:22:09,560 --> 00:22:12,040 Speaker 1: But you know it's good. It's good for the theater 426 00:22:12,240 --> 00:22:14,800 Speaker 1: of business, isn't it. It're talking about it. It's great 427 00:22:14,800 --> 00:22:17,359 Speaker 1: for us, right. So okay, so that's a narrow victory 428 00:22:17,400 --> 00:22:23,119 Speaker 1: to Sean, Well, it's a victory, narrow, just a slight victory, 429 00:22:23,640 --> 00:22:27,760 Speaker 1: not a massive victory. Okay, favorite story. So it's two 430 00:22:27,760 --> 00:22:28,000 Speaker 1: to one. 431 00:22:28,440 --> 00:22:31,000 Speaker 3: Yeah, it is bring it home strong. 432 00:22:31,200 --> 00:22:36,160 Speaker 1: Okay, you're up easy. We are going to talk about 433 00:22:36,720 --> 00:22:39,320 Speaker 1: Kmart because what are you saying? 434 00:22:39,560 --> 00:22:39,879 Speaker 3: Brands? 435 00:22:39,920 --> 00:22:41,359 Speaker 1: We are talking about Anko brand. 436 00:22:41,400 --> 00:22:43,480 Speaker 2: Have you heard of it before? Maybe we've discussed this 437 00:22:43,520 --> 00:22:45,399 Speaker 2: before on the weekend. 438 00:22:45,880 --> 00:22:49,919 Speaker 1: We have because this is a great Australian success story 439 00:22:49,960 --> 00:22:53,879 Speaker 1: and this is after all an Australian podcast ye about 440 00:22:53,920 --> 00:22:59,960 Speaker 1: Australian businesses and relevant to Australians consumers here and share whole. 441 00:23:00,280 --> 00:23:00,959 Speaker 1: West Farmers. 442 00:23:01,440 --> 00:23:05,080 Speaker 2: He's making a point, you mustard Trump thing a moment ago. 443 00:23:05,320 --> 00:23:08,200 Speaker 1: That's in the past, Sean, Like, why are you are 444 00:23:08,200 --> 00:23:13,800 Speaker 1: you dwelling on this ages ago? Anyway? Anko is going global? Wow? 445 00:23:14,680 --> 00:23:20,520 Speaker 1: Going global? Yes. West Farmers obviously owned Kmart Camart. It's 446 00:23:20,560 --> 00:23:24,080 Speaker 1: home to the Anko home brand, which has become a 447 00:23:24,240 --> 00:23:28,640 Speaker 1: phenomenal success. Eighty five percent of goods sold at kmart 448 00:23:28,800 --> 00:23:29,639 Speaker 1: are now Ancho. 449 00:23:30,440 --> 00:23:30,639 Speaker 3: You go. 450 00:23:30,760 --> 00:23:34,400 Speaker 1: Everything. I just looked around my house this morning and 451 00:23:34,600 --> 00:23:39,359 Speaker 1: everything kettles and toasters to clothes and toys, it is 452 00:23:39,480 --> 00:23:44,120 Speaker 1: Ancho brand. It is extraordinary. Now Anko has actually boosted 453 00:23:44,200 --> 00:23:47,800 Speaker 1: Kmart to be the second biggest earner in the West 454 00:23:47,800 --> 00:23:52,040 Speaker 1: Farmer's conglomerate, which is amazing. Right, And now now Anko 455 00:23:52,680 --> 00:23:57,840 Speaker 1: is going to be Australia's gift to the world, right, Love, 456 00:23:58,040 --> 00:24:00,040 Speaker 1: I thought that it was Dick Pratt, but go on, no, no, 457 00:24:02,720 --> 00:24:07,920 Speaker 1: they are accelerating the Andrew Forrest. They're accelerating the global 458 00:24:08,040 --> 00:24:14,800 Speaker 1: James magnuson Ancho branded stores products already resonating in the US, 459 00:24:14,840 --> 00:24:21,040 Speaker 1: in Canada, in the Philippines. This thing is going nuts, right. 460 00:24:21,320 --> 00:24:23,760 Speaker 1: It is a terrific success story. And we heard this 461 00:24:23,800 --> 00:24:26,600 Speaker 1: week just about how much they are backing it to 462 00:24:26,760 --> 00:24:30,000 Speaker 1: be a global success, not just an Australian success. It 463 00:24:30,000 --> 00:24:32,600 Speaker 1: has proven itself here. It is now going big on 464 00:24:32,640 --> 00:24:35,040 Speaker 1: the global stage. And you know what, it is not 465 00:24:35,320 --> 00:24:38,480 Speaker 1: just a terrific success story from an Australian retailer. It 466 00:24:38,560 --> 00:24:41,399 Speaker 1: is an example of an Australian retailer that has built 467 00:24:41,400 --> 00:24:43,399 Speaker 1: its success out of the time that we are living in. 468 00:24:43,480 --> 00:24:46,560 Speaker 1: It is a brand built for the cost of living crisis, right, 469 00:24:46,880 --> 00:24:49,560 Speaker 1: and that is why they are just going through the 470 00:24:49,680 --> 00:24:52,639 Speaker 1: roof at the moment, Ancho vote one. I've got no 471 00:24:52,680 --> 00:24:53,840 Speaker 1: idea what I'm saying anymore. 472 00:24:53,960 --> 00:24:57,600 Speaker 2: So I never questioned about this story for this week. 473 00:24:58,520 --> 00:25:02,240 Speaker 2: If that's your most remarkable story this week, favorite favorite 474 00:25:02,240 --> 00:25:04,800 Speaker 2: story for this week, then can I say my favorite 475 00:25:04,840 --> 00:25:08,800 Speaker 2: story for this week is BHP taking over OZ Minerals 476 00:25:08,800 --> 00:25:11,760 Speaker 2: two years ago? Or can I say something? Can I 477 00:25:11,800 --> 00:25:15,160 Speaker 2: say something like, you know, after Pay being bought by Square, 478 00:25:15,440 --> 00:25:17,440 Speaker 2: whatever that was. Why don't your favorite story? 479 00:25:17,480 --> 00:25:19,200 Speaker 1: Why don't you just pull out a story from seven 480 00:25:19,240 --> 00:25:21,680 Speaker 1: hundred years ago? Sean, I will thank you very much. 481 00:25:21,840 --> 00:25:24,520 Speaker 1: The Magna Carta. Hmmm, do you even know what the 482 00:25:24,560 --> 00:25:26,680 Speaker 1: magnicuta is, Michael, Yes, it is a document. 483 00:25:26,880 --> 00:25:28,080 Speaker 3: It is a great charter. 484 00:25:28,359 --> 00:25:31,119 Speaker 2: Come on, think the great charter? Yes, Adam ga with it? 485 00:25:31,200 --> 00:25:32,720 Speaker 2: What else? Who was a king? Come on? 486 00:25:33,280 --> 00:25:35,639 Speaker 3: Oh? Come on, I remember the lord? 487 00:25:35,960 --> 00:25:37,160 Speaker 2: H King John? 488 00:25:37,640 --> 00:25:38,760 Speaker 3: Thanks King John. 489 00:25:38,800 --> 00:25:42,000 Speaker 2: That's it, that's right. Were you gonna say twelve fifteen. 490 00:25:42,840 --> 00:25:46,480 Speaker 3: Yes, so I didn't know that was early twelve hundreds 491 00:25:46,520 --> 00:25:50,560 Speaker 3: and it was one of the most significant documents toward democracy. 492 00:25:50,640 --> 00:25:56,200 Speaker 2: Yes, but no one knows beyond that. Absolutely set up democracy, yep, 493 00:25:56,359 --> 00:25:59,320 Speaker 2: absolutely magnicarta. What did they do? Oh, I don't know, 494 00:25:59,440 --> 00:26:00,679 Speaker 2: Move on, you do know? 495 00:26:01,119 --> 00:26:03,880 Speaker 3: Well, yeah, so that the lords were cross about how 496 00:26:03,920 --> 00:26:06,400 Speaker 3: many the way that the king was just saying, I'm 497 00:26:06,400 --> 00:26:16,240 Speaker 3: going to tax you guys. The landowners were cross because 498 00:26:16,240 --> 00:26:18,960 Speaker 3: the king would just changed taxesever he wanted and have 499 00:26:19,080 --> 00:26:21,480 Speaker 3: indiscriminate ruling, and he'd also in prison and take things 500 00:26:21,480 --> 00:26:24,640 Speaker 3: away without without any merit whatsoever. So they agreed some 501 00:26:24,880 --> 00:26:27,359 Speaker 3: fundamental principles on the way that they could work together, 502 00:26:27,400 --> 00:26:28,280 Speaker 3: which are still present. 503 00:26:28,880 --> 00:26:29,680 Speaker 2: You hit two of them. 504 00:26:29,920 --> 00:26:31,800 Speaker 1: Is there anything that Adam doesn't know? 505 00:26:32,080 --> 00:26:34,720 Speaker 2: The genius heaps, heaps, heaps, genius, how to ride a bike? 506 00:26:34,840 --> 00:26:41,199 Speaker 2: But genius, very good. No new taxes, this is but 507 00:26:41,280 --> 00:26:45,080 Speaker 2: the magne Cutty consultation. You've got to consult for taxes. 508 00:26:45,080 --> 00:26:46,920 Speaker 2: There had to be some sort of agreements. So it's 509 00:26:47,160 --> 00:26:48,280 Speaker 2: the beginning of a parliament. 510 00:26:48,720 --> 00:26:51,160 Speaker 3: Can't be imprisoned without any cause. 511 00:26:51,280 --> 00:26:54,119 Speaker 2: It's shut up. All three men have the right to 512 00:26:54,280 --> 00:26:58,080 Speaker 2: justice and a fair trial right the third one. So 513 00:26:58,119 --> 00:26:59,800 Speaker 2: you've got two of the three. The monarch doesn't have 514 00:27:00,040 --> 00:27:03,360 Speaker 2: absolute power. So the sector that's how we live, our 515 00:27:03,480 --> 00:27:07,680 Speaker 2: most democracies work comes from the Magna Carta. 516 00:27:07,720 --> 00:27:10,200 Speaker 1: Anyway, is there anything in this that's relevant to now? 517 00:27:10,560 --> 00:27:14,119 Speaker 2: Yes? This week? This week we found out that Harvard 518 00:27:14,200 --> 00:27:19,240 Speaker 2: Law School had bought a copy of the Magna Carta 519 00:27:19,640 --> 00:27:22,040 Speaker 2: just after World War Two? Was it twenty seven bucks? 520 00:27:22,040 --> 00:27:22,440 Speaker 2: They paid? 521 00:27:22,640 --> 00:27:24,200 Speaker 1: Yeah, twenty seven US. 522 00:27:23,960 --> 00:27:27,920 Speaker 2: Twenty seven US, it's about forty two thereabouts. Anyway, they've 523 00:27:27,920 --> 00:27:30,040 Speaker 2: got a couple of some An expert was wandering through 524 00:27:30,119 --> 00:27:32,919 Speaker 2: saw I thought that looks interesting and maybe Carter expert 525 00:27:32,960 --> 00:27:35,800 Speaker 2: got his mate in. They had a good look and 526 00:27:35,840 --> 00:27:37,960 Speaker 2: then told the Harvard Law School did you know that 527 00:27:38,040 --> 00:27:40,320 Speaker 2: this is one of the This is probably the seventh 528 00:27:40,960 --> 00:27:44,800 Speaker 2: original Magna Carta. We don't know how many were created, 529 00:27:44,840 --> 00:27:48,960 Speaker 2: but most of them were destroyed. Six survived. Now we 530 00:27:49,080 --> 00:27:52,440 Speaker 2: have the seventh. Now, the last time a Magna Carta 531 00:27:52,480 --> 00:27:56,040 Speaker 2: that was sold was fifteen years ago, twenty years ago, 532 00:27:56,200 --> 00:27:59,199 Speaker 2: twenty one million US. So this would be worth you know, 533 00:27:59,240 --> 00:28:01,840 Speaker 2: we're talking lots of money, but that's not really the point. 534 00:28:02,240 --> 00:28:05,520 Speaker 2: The fact that they have found a seventh original copy 535 00:28:06,040 --> 00:28:11,240 Speaker 2: of the Magna Carta. So can you not love that story, 536 00:28:11,320 --> 00:28:14,240 Speaker 2: especially when you are as knowledgeable as you are, Adam, 537 00:28:14,480 --> 00:28:15,680 Speaker 2: in terms of what it's all about. 538 00:28:16,400 --> 00:28:18,800 Speaker 1: I mean, this is a story of hope for any 539 00:28:18,840 --> 00:28:20,359 Speaker 1: of it. We could, any one of us could have 540 00:28:20,359 --> 00:28:22,080 Speaker 1: a Magna carta. We cracked away. 541 00:28:22,240 --> 00:28:26,040 Speaker 2: Check your sheds forget check you have the lottery ticket? Yeah, 542 00:28:26,359 --> 00:28:29,720 Speaker 2: go in search, get a magna carta detector. 543 00:28:31,200 --> 00:28:31,720 Speaker 1: Because you. 544 00:28:34,160 --> 00:28:38,760 Speaker 2: And I gave it back shed under the bed, Go 545 00:28:38,840 --> 00:28:43,720 Speaker 2: for it. They have an attic not an astroc Uk 546 00:28:43,880 --> 00:28:45,560 Speaker 2: comedy show that had this regular skit. 547 00:28:45,680 --> 00:28:47,680 Speaker 3: And as one fellow one time comes down said, I 548 00:28:47,720 --> 00:28:49,200 Speaker 3: was just looking in the roofs the other day, and 549 00:28:49,200 --> 00:28:51,800 Speaker 3: do you know what? I found an original copy of 550 00:28:51,840 --> 00:28:53,760 Speaker 3: the Bible, which was nice. 551 00:28:54,360 --> 00:28:55,720 Speaker 1: It was very much like that. 552 00:28:56,040 --> 00:28:58,640 Speaker 3: And that's such I mean, even listening to the story, 553 00:28:58,640 --> 00:29:06,920 Speaker 3: it's such a heartfelt thing. Sot in history. But Michael wims, what. 554 00:29:06,840 --> 00:29:10,520 Speaker 1: Happened this week? A twenty seven dollar document has been 555 00:29:10,520 --> 00:29:12,920 Speaker 1: beaten by a seventeen dollar kettle eater. 556 00:29:15,320 --> 00:29:19,440 Speaker 2: But Adam, I want to know, though, what happened why 557 00:29:19,480 --> 00:29:19,880 Speaker 2: this week? 558 00:29:20,120 --> 00:29:23,440 Speaker 3: Well, okay, so the pronouncements that I read of this week, 559 00:29:23,560 --> 00:29:25,720 Speaker 3: well heard of through you and read in the newsletter. 560 00:29:25,920 --> 00:29:31,360 Speaker 3: Sean was around that's true that we have watched this brand. 561 00:29:31,480 --> 00:29:33,959 Speaker 3: We've been going for five years, right, and we've been 562 00:29:34,000 --> 00:29:38,400 Speaker 3: watching this brand in that time. Absolutely stellar in that 563 00:29:38,640 --> 00:29:39,479 Speaker 3: five years. 564 00:29:39,880 --> 00:29:41,240 Speaker 1: This week was factored in. 565 00:29:41,400 --> 00:29:43,840 Speaker 3: But they're going they are going global, and they've announced 566 00:29:43,840 --> 00:29:46,880 Speaker 3: this even more ambitious project of taking Anko to the world. 567 00:29:48,240 --> 00:29:50,280 Speaker 2: So not happy to all, to all? 568 00:29:50,360 --> 00:29:52,840 Speaker 1: And may I ask then, if it is to all? 569 00:29:53,280 --> 00:29:56,920 Speaker 1: Is there a winner on point? Is this is happening? 570 00:29:57,640 --> 00:30:02,360 Speaker 3: Is Sean ninety three points? Michael ninety two points? 571 00:30:04,120 --> 00:30:05,240 Speaker 1: Set up beautiful? 572 00:30:05,360 --> 00:30:08,720 Speaker 2: Son of a Gun was beautiful For those who didn't 573 00:30:08,720 --> 00:30:11,000 Speaker 2: see that, which is pretty much everyone because we're an audio. 574 00:30:12,440 --> 00:30:14,640 Speaker 2: He looked at me with that sort of you're going 575 00:30:14,680 --> 00:30:16,440 Speaker 2: to be disappointed You've got only three points, and then 576 00:30:16,520 --> 00:30:19,280 Speaker 2: turned with his glee to Michael, saying, good news, you've 577 00:30:19,280 --> 00:30:19,880 Speaker 2: got noney to. 578 00:30:20,240 --> 00:30:27,680 Speaker 1: You crushed my soul. I feel no, I'm deflated, I'm disillusioned. 579 00:30:27,720 --> 00:30:30,320 Speaker 1: But you know what, in two weeks I'm going to 580 00:30:30,360 --> 00:30:34,120 Speaker 1: come back. Obviously, next week when we do this live, 581 00:30:34,360 --> 00:30:38,360 Speaker 1: I'm going to use for the first time, I will 582 00:30:38,400 --> 00:30:41,920 Speaker 1: have the people behind me because I'm representing the people anyway, 583 00:30:42,200 --> 00:30:45,120 Speaker 1: And on that night I'm going to have everyone on 584 00:30:45,160 --> 00:30:48,760 Speaker 1: my side and we are. If need be, I will 585 00:30:48,800 --> 00:30:51,320 Speaker 1: start a coup and you may not get out of 586 00:30:51,320 --> 00:30:52,880 Speaker 1: it the coolest. 587 00:30:52,920 --> 00:30:53,960 Speaker 3: We'll get on and take over. 588 00:30:54,120 --> 00:30:57,160 Speaker 1: Yes, there we go. Thank you very much, Adam, Thank. 589 00:30:56,960 --> 00:30:59,720 Speaker 2: You, Michael, thank you, Sean, Thank you Adam, thank you Michael. 590 00:31:00,000 --> 00:31:02,520 Speaker 1: Good job all. Make sure you're following the podcast, join 591 00:31:02,600 --> 00:31:06,120 Speaker 1: us online on LinkedIn, Instagram, TikTok, Facebook, and X'm Michael Thompson. 592 00:31:06,160 --> 00:31:08,080 Speaker 1: And that was fear and Greed. Have a great weekend.