1 00:00:05,960 --> 00:00:08,879 Speaker 1: Welcome to Fear and Greed business news you can use today. 2 00:00:08,920 --> 00:00:11,959 Speaker 1: Prime Minister Anthony Albanesi calls on the Greens to tone 3 00:00:12,000 --> 00:00:15,360 Speaker 1: down the rhetoric as Israeli President Isaac Hertzog's visit to 4 00:00:15,360 --> 00:00:19,840 Speaker 1: Australia triggers plaudits and condemnation. Macquarie warns the big bank 5 00:00:19,920 --> 00:00:23,800 Speaker 1: sits after their mortgages and deposits, and the Privacy Commissioners 6 00:00:23,800 --> 00:00:27,680 Speaker 1: worried that cars might be spying on owners. Plus Alphabet's 7 00:00:27,720 --> 00:00:30,680 Speaker 1: one hundred year bond and why winners at the Olympics 8 00:00:30,720 --> 00:00:33,680 Speaker 1: are going home with medals more valuable than ever before. 9 00:00:33,840 --> 00:00:36,639 Speaker 1: It's Wednesday, the eleventh of February twenty twenty six. I'm 10 00:00:36,640 --> 00:00:38,720 Speaker 1: Michael Thompson and good morning, Sean Aylmer. 11 00:00:39,159 --> 00:00:41,120 Speaker 2: Good morning, Michael, Sean the. 12 00:00:41,080 --> 00:00:44,720 Speaker 1: Main story this morning. Prime Minister Anthony Albanesi has called 13 00:00:44,760 --> 00:00:47,280 Speaker 1: on the Greens to turn down the temperature when it 14 00:00:47,320 --> 00:00:50,760 Speaker 1: comes to Australia's relationship with Israel and with the Middle 15 00:00:50,800 --> 00:00:54,040 Speaker 1: East more broadly, saying he won't walk away from the 16 00:00:54,120 --> 00:00:56,680 Speaker 1: visit of Israel's President Isaac Herzog. 17 00:00:57,120 --> 00:01:00,360 Speaker 3: It's been a very difficult thirty six hours. The Prime 18 00:01:00,400 --> 00:01:02,840 Speaker 3: Minister has also called for more nuance in the debate 19 00:01:03,000 --> 00:01:06,280 Speaker 3: over the conflict in the Middle East. He said discussion 20 00:01:06,600 --> 00:01:09,199 Speaker 3: wasn't helped by people thinking they had to support one 21 00:01:09,200 --> 00:01:12,039 Speaker 3: side or the other. He basically compared the debate to 22 00:01:12,080 --> 00:01:16,120 Speaker 3: a football team. Albanzi was talking after Green's MP Elizabeth 23 00:01:16,160 --> 00:01:19,720 Speaker 3: Watson Brown demanded the PM condemn what she called police 24 00:01:19,800 --> 00:01:23,039 Speaker 3: violence in Sydney on Monday night. She also called on 25 00:01:23,120 --> 00:01:26,720 Speaker 3: the Prime Minister to send Herzog home. Albernizi, who along 26 00:01:26,720 --> 00:01:30,840 Speaker 3: with Governor General Sam Moston, invited Herzog two Australia in 27 00:01:30,880 --> 00:01:34,440 Speaker 3: the wake of the Bondomasaca, said he was in Australia. 28 00:01:34,480 --> 00:01:37,360 Speaker 3: Herzog was in Australia to support the people who needed 29 00:01:37,400 --> 00:01:40,840 Speaker 3: it most. There were certainly distressing scenes of clashes between 30 00:01:40,880 --> 00:01:45,000 Speaker 3: protests and police at a pro Palestinian rally in Sydney, 31 00:01:45,240 --> 00:01:48,840 Speaker 3: a New South Wales Green's politician was hospitalized during the clashes. 32 00:01:49,080 --> 00:01:49,720 Speaker 2: At the rally. 33 00:01:49,960 --> 00:01:53,320 Speaker 3: Former Australian of the Year Grace Tame spoke fervently shall 34 00:01:53,320 --> 00:01:56,600 Speaker 3: we say against Israel? Her comments spuck to call by 35 00:01:56,640 --> 00:01:59,200 Speaker 3: One Nation politician Barnaby Joyce for her to give her 36 00:01:59,240 --> 00:02:04,000 Speaker 3: Australian of the Year on our back all up, Michael, 37 00:02:04,080 --> 00:02:10,000 Speaker 3: just very distressing to see our society so divided over 38 00:02:10,160 --> 00:02:11,600 Speaker 3: such an important issue. 39 00:02:11,840 --> 00:02:15,200 Speaker 1: Absolutely, and the Greens have really been the focus of 40 00:02:15,240 --> 00:02:18,520 Speaker 1: the political debate, particularly given the Coalition and the ALP 41 00:02:18,919 --> 00:02:24,639 Speaker 1: both support Herzog's visit. Away from that story, Sean, the 42 00:02:25,040 --> 00:02:29,480 Speaker 1: Liberal Party continues to struggle. There was no leadership spill yesterday, 43 00:02:29,600 --> 00:02:31,880 Speaker 1: though that does not necessarily mean that there won't be 44 00:02:31,919 --> 00:02:35,440 Speaker 1: one today. Susan Lee's hold on the top job is 45 00:02:35,880 --> 00:02:38,360 Speaker 1: you got to say it is tenuous at best. 46 00:02:39,000 --> 00:02:41,720 Speaker 3: Yes, so Angus Taylor is the option, but it's just 47 00:02:41,760 --> 00:02:45,000 Speaker 3: not clear according to media commentators that he wants it 48 00:02:45,160 --> 00:02:49,280 Speaker 3: right now. He wants it, maybe just not this soon now. 49 00:02:49,400 --> 00:02:53,600 Speaker 3: On Monday, Victorian senators Jane Hume and Sarah Henderson, who 50 00:02:53,600 --> 00:02:56,040 Speaker 3: were dumped from the front bench by League calls for 51 00:02:56,120 --> 00:02:59,120 Speaker 3: change yesterday, Lean Hume apparently had a clash in the 52 00:02:59,200 --> 00:03:04,480 Speaker 3: party room. Hume was talking about electoral oblivionly responded saying, 53 00:03:04,480 --> 00:03:07,760 Speaker 3: it's very simple, stop talking about ourselves. Disunity is death. 54 00:03:09,040 --> 00:03:11,240 Speaker 3: It's hard to see something not happening in the next 55 00:03:11,280 --> 00:03:11,959 Speaker 3: two or three days. 56 00:03:12,000 --> 00:03:14,600 Speaker 1: To be honest, you can also understand why Angus Taylor 57 00:03:14,639 --> 00:03:17,360 Speaker 1: wouldn't want it just yet, because you take this on 58 00:03:17,440 --> 00:03:20,800 Speaker 1: and it's actually worse than becoming the leader straight after 59 00:03:20,800 --> 00:03:22,280 Speaker 1: the election. No one ever wants to be the leader 60 00:03:22,320 --> 00:03:25,400 Speaker 1: straight after an election loss, because you've got to kind 61 00:03:25,400 --> 00:03:27,760 Speaker 1: of claw your way back. This has actually got a claw. 62 00:03:27,880 --> 00:03:29,760 Speaker 1: They've got to claw their way back from an even 63 00:03:29,840 --> 00:03:32,680 Speaker 1: worse position than when they lost the election. So it's 64 00:03:32,720 --> 00:03:36,440 Speaker 1: an even bigger job. Markets sean, what's. 65 00:03:36,240 --> 00:03:40,040 Speaker 3: Happening equities s THEPASX two hundred finished up zero point 66 00:03:40,080 --> 00:03:44,440 Speaker 3: two percent to eighty seven points yesterday. Pretty good effort, 67 00:03:44,440 --> 00:03:46,240 Speaker 3: really like it raised nearly two percent on Monday. It 68 00:03:46,280 --> 00:03:47,280 Speaker 3: held onto all those gains. 69 00:03:47,280 --> 00:03:47,720 Speaker 2: Pretty good. 70 00:03:47,720 --> 00:03:51,920 Speaker 3: Tech stocks did best, Healthcare was worst among the large caps. 71 00:03:52,400 --> 00:03:55,040 Speaker 3: The banks will A, big miners were mixed, West Farmers 72 00:03:55,080 --> 00:03:56,000 Speaker 3: cs hell good. 73 00:03:56,040 --> 00:03:59,960 Speaker 2: Midfielder all did pretty well. Bit of earnings using news around. 74 00:03:59,640 --> 00:04:02,120 Speaker 3: I mean really kicks off today with Commonwealth Bank, but 75 00:04:02,240 --> 00:04:05,760 Speaker 3: G eight Education tumbled after flagging a huge impairment three 76 00:04:05,800 --> 00:04:08,560 Speaker 3: undred and fifty million dollar in impairment, scrapping its dividend. 77 00:04:08,920 --> 00:04:11,720 Speaker 3: Treasury Wine Estates rose some good news for those guys, 78 00:04:12,320 --> 00:04:16,040 Speaker 3: upgrading its profit Outlooking currency markets, the Aussie dollar trading 79 00:04:16,240 --> 00:04:19,000 Speaker 3: just under seventy one US sense having hit a three 80 00:04:19,200 --> 00:04:21,760 Speaker 3: year high, helped by the falling dollar. Wouldn't it be 81 00:04:21,839 --> 00:04:24,599 Speaker 3: nice if someone was going to the US in the 82 00:04:24,600 --> 00:04:26,000 Speaker 3: next few months, Michael. 83 00:04:26,680 --> 00:04:30,200 Speaker 1: That someone would be watching this with great anticipation, going, 84 00:04:30,279 --> 00:04:32,560 Speaker 1: come on, you can get there, just keep climbing. 85 00:04:33,480 --> 00:04:34,640 Speaker 2: One of us too. And it's not me. 86 00:04:35,040 --> 00:04:38,600 Speaker 1: Yeah, yeah, it might be me now, Sean. Insurance stocks 87 00:04:38,920 --> 00:04:41,520 Speaker 1: fell yesterday, And this is a really interesting story because 88 00:04:41,560 --> 00:04:45,640 Speaker 1: this is about kind of disruption, watching disruption from AI 89 00:04:45,839 --> 00:04:49,160 Speaker 1: in real time, or rather the expectation of disruption, because 90 00:04:49,160 --> 00:04:52,880 Speaker 1: we had AI intelligence Giant Open Ai approving the first 91 00:04:53,080 --> 00:04:57,600 Speaker 1: insurance app on its chat GPT platform, and the impact 92 00:04:57,760 --> 00:04:58,640 Speaker 1: was immediate. 93 00:04:59,600 --> 00:05:05,200 Speaker 3: Five performing stocks yesterday were insurance stocks, so Steadfast, IAG, AUB, 94 00:05:05,400 --> 00:05:08,720 Speaker 3: Sun Corp, and QB. It all came after a group 95 00:05:08,760 --> 00:05:12,039 Speaker 3: called Insurify in the US said it had an insurance 96 00:05:12,040 --> 00:05:16,760 Speaker 3: app on chat GPT that can personalize insurance. 97 00:05:16,320 --> 00:05:17,640 Speaker 2: Quotes for users. 98 00:05:18,400 --> 00:05:20,960 Speaker 3: Now, the idea with insurance is that it's a collective. 99 00:05:21,000 --> 00:05:22,640 Speaker 3: You know, everyone puts money in and you have to 100 00:05:22,680 --> 00:05:25,760 Speaker 3: feel in your age and stuff like that, but it's 101 00:05:25,800 --> 00:05:27,960 Speaker 3: not really a personal quote. It's kind of you are 102 00:05:28,040 --> 00:05:30,520 Speaker 3: one of tens of thousands or hundreds of thousands, and 103 00:05:30,520 --> 00:05:33,000 Speaker 3: that sort of keeps premiums down. The thing is, if 104 00:05:33,040 --> 00:05:35,719 Speaker 3: you can actually have a really personalized quote, what's that 105 00:05:35,800 --> 00:05:39,320 Speaker 3: do for the business model of insurers? That's why they 106 00:05:39,320 --> 00:05:41,559 Speaker 3: were sold off. So in the last week we're seeing 107 00:05:41,680 --> 00:05:43,760 Speaker 3: tech companies like at Lassians sold off on the back 108 00:05:43,800 --> 00:05:46,200 Speaker 3: of this fear that AI will replace its business model. 109 00:05:46,600 --> 00:05:49,720 Speaker 3: Lawyers they've been sold off, not that we have listed 110 00:05:49,760 --> 00:05:52,279 Speaker 3: law firms here, but overseas they've been sold off because 111 00:05:52,320 --> 00:05:55,320 Speaker 3: maybe AI can do their bidding for them. Now with 112 00:05:55,440 --> 00:05:58,480 Speaker 3: insurance companies, really fascinating to watch. 113 00:05:58,400 --> 00:06:00,920 Speaker 1: Yes, watching it day by day. All right back in 114 00:06:00,920 --> 00:06:03,679 Speaker 1: a moment Sean with the rest of the day's business news. 115 00:06:10,120 --> 00:06:13,480 Speaker 1: Sean mcquarie Group gave investors a briefing yesterday and focused 116 00:06:13,520 --> 00:06:17,719 Speaker 1: on its Australian business. It's sent out a warning really 117 00:06:17,800 --> 00:06:20,799 Speaker 1: to the big four banks. Macquarie is after the home 118 00:06:20,839 --> 00:06:22,600 Speaker 1: loan and deposit market. 119 00:06:22,640 --> 00:06:24,479 Speaker 2: And it's doing a pretty good job. 120 00:06:24,760 --> 00:06:28,159 Speaker 3: It's got six point eight percent of the deposit market, 121 00:06:28,200 --> 00:06:30,240 Speaker 3: about ten times when it had had a decade ago. 122 00:06:30,320 --> 00:06:32,960 Speaker 3: It's got six point three percent of the Actually I've 123 00:06:32,960 --> 00:06:34,279 Speaker 3: said that the right way around. It's six point eight 124 00:06:34,279 --> 00:06:36,240 Speaker 3: percent of the mortgage market, which is about ten point 125 00:06:36,480 --> 00:06:38,920 Speaker 3: ten times what it had had decade ago. It's got 126 00:06:38,920 --> 00:06:42,400 Speaker 3: six point three percent of the deposit market, which is 127 00:06:42,760 --> 00:06:45,000 Speaker 3: well and tily double about what it had five years ago. 128 00:06:45,560 --> 00:06:48,440 Speaker 3: One of its big advantages, according to analysts, is that 129 00:06:48,440 --> 00:06:50,480 Speaker 3: it doesn't really have to be all things to all people. 130 00:06:50,800 --> 00:06:53,080 Speaker 3: So the banks have to have all these services. McQuary 131 00:06:53,080 --> 00:06:54,800 Speaker 3: can just pick and choose a bit. Also, it hasn't 132 00:06:54,839 --> 00:06:57,440 Speaker 3: got all these legacy systems that the banks have. That's 133 00:06:57,480 --> 00:07:00,640 Speaker 3: helping it a royal. Mcquarie reported higher profits across its 134 00:07:00,640 --> 00:07:03,839 Speaker 3: four business divisions in the Sember quarter, including a pickup 135 00:07:03,960 --> 00:07:08,040 Speaker 3: in the All Important Commodities and Global Markets unit. Its 136 00:07:08,040 --> 00:07:11,239 Speaker 3: share price closed our half percent now. 137 00:07:11,600 --> 00:07:16,200 Speaker 1: The providers sewn to the National Disability Insurance Scheme the 138 00:07:16,280 --> 00:07:21,200 Speaker 1: NDIS are falsely advertising products, breaching contracts and charging for 139 00:07:21,320 --> 00:07:25,480 Speaker 1: services they never provide to an extent that threatens participants 140 00:07:25,520 --> 00:07:28,600 Speaker 1: safety in the scheme that services seven hundred and fifty 141 00:07:28,600 --> 00:07:29,840 Speaker 1: one thousand Australians. 142 00:07:30,080 --> 00:07:32,720 Speaker 3: That's the view of the Australian Competition and Consumer Commission, 143 00:07:32,720 --> 00:07:36,200 Speaker 3: which added that scam activity and price gouging was rife. 144 00:07:36,480 --> 00:07:38,800 Speaker 3: A task force set up by the HBC and the 145 00:07:38,800 --> 00:07:42,360 Speaker 3: regulatory bodies overseeing the NDIS found providers were wrongly charging 146 00:07:42,400 --> 00:07:45,400 Speaker 3: for essential disability support products that were not Suppliers agreed 147 00:07:45,840 --> 00:07:49,520 Speaker 3: falsely claiming services or products were eligible for NDIS funding 148 00:07:49,760 --> 00:07:52,240 Speaker 3: and they weren't. So there was a bunch of examples 149 00:07:52,280 --> 00:07:54,000 Speaker 3: in there where they said you can buy this and 150 00:07:54,040 --> 00:07:57,360 Speaker 3: claimant on the NDS. Well, the person bought it and 151 00:07:57,400 --> 00:07:59,280 Speaker 3: they couldn't claim it on the NDIS and they left 152 00:07:59,280 --> 00:08:02,080 Speaker 3: out of pocket. AHABLEC Deputy check could train a low 153 00:08:02,240 --> 00:08:05,920 Speaker 3: said harm ranges from financial loss and life limiting impacts 154 00:08:06,160 --> 00:08:09,720 Speaker 3: to compromising the safety and physical well being of NDIS participants. 155 00:08:09,720 --> 00:08:12,120 Speaker 3: According to report in the finn The forty page report 156 00:08:12,120 --> 00:08:16,360 Speaker 3: from the AHABLEC says data indicates NDIS participants are frequent 157 00:08:16,760 --> 00:08:22,080 Speaker 3: targets of scam activity, including impersonating government agencies and romance scams. 158 00:08:22,200 --> 00:08:25,040 Speaker 3: There are around sixteen thousand registered providers an estimated one 159 00:08:25,120 --> 00:08:28,960 Speaker 3: hundred and fifty four thousand or more unregistered providers. Fifty 160 00:08:28,960 --> 00:08:32,600 Speaker 3: billion dollar business. This more expensive than medicare threatening to 161 00:08:32,640 --> 00:08:35,520 Speaker 3: overtake defense spending. The government has spent a lot of 162 00:08:35,559 --> 00:08:40,040 Speaker 3: time and last lusts when bill shortened still in parliament, 163 00:08:40,160 --> 00:08:42,679 Speaker 3: he certainly had to look at this. They have made changes, 164 00:08:42,760 --> 00:08:45,280 Speaker 3: but wow, there's a lot more to do. 165 00:08:45,280 --> 00:08:48,640 Speaker 1: Doesn't it just worry you about kind of what it 166 00:08:48,679 --> 00:08:52,840 Speaker 1: tells us about us as people? Suan that here's the 167 00:08:52,920 --> 00:08:55,240 Speaker 1: ndis there's a big pot of money attached to it, 168 00:08:55,280 --> 00:08:57,920 Speaker 1: and that there is a certain percentage of the population 169 00:08:58,000 --> 00:08:59,839 Speaker 1: that see that and go, you know what, there's not 170 00:09:00,000 --> 00:09:02,360 Speaker 1: optunity there, regardless to the fact that this is set 171 00:09:02,440 --> 00:09:05,880 Speaker 1: up to help people with a disability. I just I 172 00:09:06,040 --> 00:09:09,760 Speaker 1: find that really worrying, Sean, What do you make of 173 00:09:09,800 --> 00:09:13,760 Speaker 1: this one? Australia's Privacy Commissioner is looking into whether cars 174 00:09:13,800 --> 00:09:17,520 Speaker 1: with Internet connections are in fact spying on their drivers. 175 00:09:18,000 --> 00:09:18,360 Speaker 2: Hmmm. 176 00:09:18,920 --> 00:09:21,959 Speaker 3: So the Commissioner has launched investigations into two car makers 177 00:09:22,040 --> 00:09:26,160 Speaker 3: have potential breaches of privacy laws. The fear is that 178 00:09:26,200 --> 00:09:29,000 Speaker 3: the car, which of course is connected to the Internet, 179 00:09:29,080 --> 00:09:33,160 Speaker 3: could provide a third party personal information like their voice, 180 00:09:33,280 --> 00:09:35,760 Speaker 3: or their location or what they look like, that type 181 00:09:35,800 --> 00:09:39,480 Speaker 3: of thing. Privacy Commissioner krli Kind told a Senate Estimates 182 00:09:39,480 --> 00:09:44,000 Speaker 3: hearing yesterday that the Office of Australian Investigation Commissioner has 183 00:09:44,160 --> 00:09:47,400 Speaker 3: two official inquiries underway. There are another two but they 184 00:09:47,480 --> 00:09:49,160 Speaker 3: kicked them out because I didn't think that anything was 185 00:09:49,200 --> 00:09:52,920 Speaker 3: going wrong there. But they have got open investigations now. 186 00:09:53,040 --> 00:09:56,120 Speaker 3: She said that the group had conducted further preliminary inquiries 187 00:09:56,160 --> 00:10:01,760 Speaker 3: against two separate entities. Well, the two we don't know 188 00:10:01,760 --> 00:10:03,360 Speaker 3: who they are, so I it'd be great to find 189 00:10:03,360 --> 00:10:05,480 Speaker 3: out the manufacturers of the cars that they're talking about, 190 00:10:05,880 --> 00:10:08,560 Speaker 3: but presumably they're you know, they're not selling one car 191 00:10:08,559 --> 00:10:12,280 Speaker 3: in Australia, They're selling hundreds thousands of cars in Australia, 192 00:10:12,360 --> 00:10:13,920 Speaker 3: so it can be interesting to. 193 00:10:13,880 --> 00:10:14,720 Speaker 2: Watch this one. 194 00:10:14,840 --> 00:10:17,400 Speaker 3: Of course, most new vehicles now are connected to the internet, 195 00:10:17,480 --> 00:10:20,640 Speaker 3: built in modems, paired with mobile phones, et cetera, so 196 00:10:21,000 --> 00:10:22,800 Speaker 3: you can understand how it's happening. 197 00:10:24,360 --> 00:10:26,920 Speaker 1: I kind of laugh at this, just that the you 198 00:10:26,960 --> 00:10:29,000 Speaker 1: know how some people then you just you get a 199 00:10:29,000 --> 00:10:32,120 Speaker 1: little bit paranoid tinfoil hat brigade kind of thing and 200 00:10:32,160 --> 00:10:33,800 Speaker 1: you just go the other way and you end up 201 00:10:33,880 --> 00:10:35,800 Speaker 1: driving a car like Fred Flintstone that you just have 202 00:10:35,880 --> 00:10:38,320 Speaker 1: to power with your feet. Yeah, because you don't trust 203 00:10:38,320 --> 00:10:42,360 Speaker 1: the technology. Turning to international news, now, sean big tech giant, 204 00:10:42,400 --> 00:10:46,920 Speaker 1: Alphabet is looking to sell a one hundred year bond essentially, 205 00:10:46,960 --> 00:10:49,680 Speaker 1: and iou that will take one hundred years to pay 206 00:10:49,760 --> 00:10:53,000 Speaker 1: back as it looks for new ways to fund its 207 00:10:53,679 --> 00:10:55,360 Speaker 1: enormous investments free. 208 00:10:55,960 --> 00:10:58,840 Speaker 3: Isn't this cool? Yeah, it's called a sentry bond. 209 00:10:59,520 --> 00:11:01,600 Speaker 2: They're rare. They are not unique rare. 210 00:11:02,720 --> 00:11:04,880 Speaker 3: According to the FT, bonds will be issued in pound 211 00:11:04,920 --> 00:11:09,520 Speaker 3: sterling US dollars and Swiss francs. Century bonds are long 212 00:11:09,640 --> 00:11:13,880 Speaker 3: term borrowing at its most extreme, highly unusual. All the 213 00:11:13,880 --> 00:11:16,120 Speaker 3: bond is in IOU and it just says that every 214 00:11:16,160 --> 00:11:18,560 Speaker 3: six months for the next hundred years, you're going to 215 00:11:18,600 --> 00:11:19,880 Speaker 3: receive a coupon payment. 216 00:11:20,040 --> 00:11:20,600 Speaker 2: Now they are. 217 00:11:20,960 --> 00:11:24,200 Speaker 3: If I bought one of those, then I could on 218 00:11:24,320 --> 00:11:25,760 Speaker 3: sell it, so it's not like I have to hold 219 00:11:25,760 --> 00:11:27,679 Speaker 3: on to it. So there's a big secondary market. But 220 00:11:27,760 --> 00:11:30,600 Speaker 3: still you've really got to trust the fact that this company, 221 00:11:30,720 --> 00:11:33,319 Speaker 3: in this case Alphabet, is going to be around in 222 00:11:33,320 --> 00:11:35,320 Speaker 3: one hundred years to be paying it back or some 223 00:11:35,520 --> 00:11:36,040 Speaker 3: form of it. 224 00:11:36,240 --> 00:11:37,960 Speaker 1: I was going to say, these would normally be issued 225 00:11:38,000 --> 00:11:39,920 Speaker 1: by countries. 226 00:11:39,520 --> 00:11:43,440 Speaker 3: Right, Yeah, normally so Austria, Argentina and the lartin minute 227 00:11:43,440 --> 00:11:47,280 Speaker 3: past of GFC, they issued these massive one hundred year bonds. 228 00:11:47,360 --> 00:11:47,840 Speaker 2: Right. 229 00:11:49,400 --> 00:11:51,959 Speaker 3: IBM I think did one back in nineteen ninety six, 230 00:11:52,440 --> 00:11:54,640 Speaker 3: so that's probably the only big tech company to have 231 00:11:54,720 --> 00:11:57,080 Speaker 3: done it. And yeah, IBM in nine and ninety six 232 00:11:57,080 --> 00:12:02,239 Speaker 3: for the leading tech company. Now, I think it's probably 233 00:12:03,160 --> 00:12:06,880 Speaker 3: making a guess here, about five percent the size of Nvidia. 234 00:12:07,679 --> 00:12:09,240 Speaker 2: Yeah so, and that's. 235 00:12:09,120 --> 00:12:11,360 Speaker 1: Just in thirty less than thirty years. Yeah a lot, 236 00:12:12,000 --> 00:12:13,680 Speaker 1: especially in the tech space. 237 00:12:14,360 --> 00:12:15,280 Speaker 2: Especially in the tea. 238 00:12:15,440 --> 00:12:19,319 Speaker 3: I mean, it probably doesn't matter so long as Alphabet 239 00:12:19,480 --> 00:12:22,319 Speaker 3: or whoeverins Alphabet in fifty years, seventyear, one hundred years 240 00:12:22,400 --> 00:12:23,559 Speaker 3: is still paying it back. 241 00:12:24,080 --> 00:12:28,360 Speaker 2: But that's a pretty big well, yeah, you got to 242 00:12:28,360 --> 00:12:28,760 Speaker 2: have for that. 243 00:12:28,840 --> 00:12:31,600 Speaker 3: I mean, basically ensure as people who want pension funds, 244 00:12:31,640 --> 00:12:33,960 Speaker 3: superannuation funds, those sorts of people, they're the ones that 245 00:12:33,960 --> 00:12:36,240 Speaker 3: would buy this sort of bond because they just want 246 00:12:36,240 --> 00:12:39,760 Speaker 3: that regular income stream. Normally, they're an issue when rates 247 00:12:39,800 --> 00:12:42,640 Speaker 3: are really really low, because what you don't on is that, 248 00:12:42,880 --> 00:12:45,560 Speaker 3: you know, if I'm issuing it five percent and suddenly 249 00:12:45,600 --> 00:12:47,040 Speaker 3: it rates at two percent and I can get my 250 00:12:47,080 --> 00:12:48,520 Speaker 3: money a lot cheaper, I don't want that. 251 00:12:49,160 --> 00:12:51,040 Speaker 2: But yeah, it's fascinating. One hundred year bond. 252 00:12:51,320 --> 00:12:54,120 Speaker 1: That is a really cool story. So is this one actually? 253 00:12:54,280 --> 00:12:54,640 Speaker 2: Sean? 254 00:12:54,800 --> 00:12:58,240 Speaker 1: The medals being handed out at the Winter Olympics in 255 00:12:58,240 --> 00:13:02,280 Speaker 1: Italy are the most valuable ever awarded in the history 256 00:13:02,320 --> 00:13:04,480 Speaker 1: of the Games, and of course it's thanks to the 257 00:13:04,720 --> 00:13:06,800 Speaker 1: surging gold and silver prices. 258 00:13:07,200 --> 00:13:09,720 Speaker 3: So more than seven hundred gold, silver and bronze medal 259 00:13:09,720 --> 00:13:13,079 Speaker 3: will be presented in all sort of events. Skiing downhill 260 00:13:13,200 --> 00:13:13,920 Speaker 3: downhill has been. 261 00:13:13,840 --> 00:13:15,000 Speaker 2: Great this week. 262 00:13:15,280 --> 00:13:16,199 Speaker 1: My favor rushes. 263 00:13:16,480 --> 00:13:21,880 Speaker 3: I yes, ice hockey figures came curling my word, there's 264 00:13:21,880 --> 00:13:24,520 Speaker 3: been a lot of curling on TV. Still don't understand it, 265 00:13:24,559 --> 00:13:26,840 Speaker 3: but then again I like cricket, so can't say much 266 00:13:26,840 --> 00:13:30,040 Speaker 3: about that. The price for gold has doubled since Paris 267 00:13:30,040 --> 00:13:33,920 Speaker 3: in July twenty twenty four. Silver's tripled, so therefore the 268 00:13:34,000 --> 00:13:37,439 Speaker 3: gold medal and the silver medal has increased in value. 269 00:13:37,800 --> 00:13:41,280 Speaker 3: The gold medal is actually gold plated, so it's not 270 00:13:41,480 --> 00:13:44,320 Speaker 3: fully gold. The last time there's a gold gold medal 271 00:13:44,440 --> 00:13:47,600 Speaker 3: fully gold medal nineteen twelve Stockholm Games in Sweden, So 272 00:13:47,800 --> 00:13:50,440 Speaker 3: ninety two point five percent is actually silver, and then 273 00:13:50,480 --> 00:13:50,959 Speaker 3: the gold. 274 00:13:50,800 --> 00:13:51,600 Speaker 2: Played around the end. 275 00:13:51,760 --> 00:13:54,160 Speaker 3: Put all that together, throw it into the do we 276 00:13:54,200 --> 00:13:56,199 Speaker 3: call it mix master nowadays? I can't remember, but we 277 00:13:56,600 --> 00:13:59,480 Speaker 3: throw it into the mix master. Each gold medal has 278 00:13:59,520 --> 00:14:02,320 Speaker 3: five hundred grams of silver. Six grams of pure gold 279 00:14:02,440 --> 00:14:04,840 Speaker 3: value about two and a half thousand dollars at today's 280 00:14:04,840 --> 00:14:09,360 Speaker 3: market value. Silver it's worth about fourteen hundred US dollars 281 00:14:09,960 --> 00:14:13,280 Speaker 3: at today's market value. Having said that, Michael, I reckon, 282 00:14:13,280 --> 00:14:15,560 Speaker 3: if you threw your gold medal on eBay, you'd get 283 00:14:15,600 --> 00:14:16,320 Speaker 3: a bit more than that. 284 00:14:16,880 --> 00:14:20,040 Speaker 1: I reckon, So, yes, you would, at least hope. So 285 00:14:20,160 --> 00:14:22,680 Speaker 1: considering the work that has gone into actually winning it 286 00:14:22,760 --> 00:14:24,760 Speaker 1: in the first place, that others might value it a 287 00:14:24,760 --> 00:14:26,560 Speaker 1: little bit more than just the metal value. 288 00:14:26,920 --> 00:14:29,680 Speaker 3: Yes. Can I tell you that the record price for 289 00:14:29,720 --> 00:14:32,240 Speaker 3: a gold medal You might even know this, you're a 290 00:14:32,360 --> 00:14:33,160 Speaker 3: trivia buff. 291 00:14:34,160 --> 00:14:38,600 Speaker 1: No, I'm assuming it's going to be from quite some 292 00:14:38,720 --> 00:14:39,240 Speaker 1: time ago. 293 00:14:39,560 --> 00:14:43,480 Speaker 3: Nineteen thirty six Berlin Olympics Jesse l Owens. Yeah, the 294 00:14:43,880 --> 00:14:44,720 Speaker 3: Hitler Olympics. 295 00:14:44,760 --> 00:14:48,360 Speaker 2: That one, ah, how much? Thirteen years ago? 296 00:14:48,400 --> 00:14:53,080 Speaker 3: For one point four seven million dollars million US dollars. 297 00:14:53,120 --> 00:14:56,160 Speaker 3: He won four gold medals, Jesse Owen, and one of 298 00:14:56,160 --> 00:14:58,640 Speaker 3: them was sold. He didn't, he obviously passed on, but 299 00:14:58,800 --> 00:15:01,200 Speaker 3: one of them was sold in twenty five one point 300 00:15:01,240 --> 00:15:02,880 Speaker 3: four to seven million newest dollars. 301 00:15:03,320 --> 00:15:06,120 Speaker 1: There you go, all right, John? Up next is Fear 302 00:15:06,160 --> 00:15:09,840 Speaker 1: and greed Q and A today. Really interesting chat. You're 303 00:15:09,840 --> 00:15:12,160 Speaker 1: speaking with Jack Curtis from Nearer. 304 00:15:13,000 --> 00:15:18,440 Speaker 3: So it's about energy and what NERA does is basically 305 00:15:18,480 --> 00:15:23,080 Speaker 3: optimize for companies the way they can get power to 306 00:15:23,240 --> 00:15:28,160 Speaker 3: their businesses that might be mining, whatever they are really 307 00:15:28,720 --> 00:15:31,400 Speaker 3: all over the artificial intelligence boom and the fact that 308 00:15:31,440 --> 00:15:33,920 Speaker 3: there's a need for data centers. Data centers need huge 309 00:15:33,920 --> 00:15:35,360 Speaker 3: amounts of electricity, so. 310 00:15:35,520 --> 00:15:37,400 Speaker 2: We talked to Jack about that. 311 00:15:37,760 --> 00:15:40,760 Speaker 3: Nearer itself has been very successful. It's valuation now a 312 00:15:40,840 --> 00:15:44,240 Speaker 3: billion dollars plus on the back of this boon. Though 313 00:15:44,280 --> 00:15:46,680 Speaker 3: I must say Jack isn't exactly a boastful person. 314 00:15:46,760 --> 00:15:49,520 Speaker 2: He almost underplayed very sold to the company. 315 00:15:49,760 --> 00:15:52,960 Speaker 3: But he just went through the economics and the logistics 316 00:15:52,960 --> 00:15:55,800 Speaker 3: of getting power to these places and how we can 317 00:15:55,840 --> 00:15:58,720 Speaker 3: do better. One of my favorite chats I think so 318 00:15:58,840 --> 00:15:59,880 Speaker 3: far in twenty twenty six. 319 00:16:00,240 --> 00:16:02,040 Speaker 1: Yeah. Yeah, it's one of those ones as you listen 320 00:16:02,080 --> 00:16:04,680 Speaker 1: to it and you feel smarter having listened to it, 321 00:16:04,800 --> 00:16:06,680 Speaker 1: and you've also got a couple of cool facts that 322 00:16:06,720 --> 00:16:08,680 Speaker 1: you can drop into conversation at work. 323 00:16:08,880 --> 00:16:10,880 Speaker 3: I must say I started at a very low base. 324 00:16:10,680 --> 00:16:14,840 Speaker 1: Though, yeah, that's how I start most shows. Sean, thank 325 00:16:14,840 --> 00:16:15,400 Speaker 1: you very much. 326 00:16:15,640 --> 00:16:16,240 Speaker 2: Thanks Michael. 327 00:16:16,520 --> 00:16:19,120 Speaker 1: It's Wednesday, the eleventh of February twenty twenty six. Make 328 00:16:19,120 --> 00:16:21,440 Speaker 1: sure you're following the podcast and please join us online 329 00:16:21,440 --> 00:16:24,320 Speaker 1: on LinkedIn and Instagram. Oh Michael Thompson and autusphere and 330 00:16:24,360 --> 00:16:27,760 Speaker 1: Greed have a great day.