1 00:00:03,990 --> 00:00:06,300 Sean Aylmer: Welcome to the Fear and Greed Daily Interview. I'm Sean 2 00:00:06,300 --> 00:00:09,510 Sean Aylmer: Aylmer. It's been a pretty remarkable six months or so 3 00:00:09,510 --> 00:00:11,969 Sean Aylmer: for some of the big US tech stocks. I wanted 4 00:00:11,969 --> 00:00:14,610 Sean Aylmer: to take a closer look today at Apple and Tesla, 5 00:00:15,030 --> 00:00:17,549 Sean Aylmer: which have both had great runs this year and even 6 00:00:17,549 --> 00:00:21,300 Sean Aylmer: saw Apple become the first company to close above 3 7 00:00:21,300 --> 00:00:24,450 Sean Aylmer: trillion US dollars. Of course, this is general information only 8 00:00:24,450 --> 00:00:27,660 Sean Aylmer: and you should certainly seek professional advice before making investment 9 00:00:27,660 --> 00:00:31,440 Sean Aylmer: decisions. Josh Gilbert is a market analyst at social investment 10 00:00:31,440 --> 00:00:34,019 Sean Aylmer: network. eToro. Josh, welcome back to Fear and Greed. 11 00:00:34,590 --> 00:00:36,060 Josh Gilbert: Thanks for having me back, Sean. Good to be here. 12 00:00:36,840 --> 00:00:41,040 Sean Aylmer: Let's start with Apple. Quite a remarkable, well few months, 13 00:00:41,040 --> 00:00:43,710 Sean Aylmer: but few weeks. How much of this is due to 14 00:00:43,710 --> 00:00:46,678 Sean Aylmer: the Vision Pro virtual reality headsets, do you think? 15 00:00:47,909 --> 00:00:50,608 Josh Gilbert: Look, I think any sort of new technology from Apple 16 00:00:50,610 --> 00:00:55,410 Josh Gilbert: is always going to be exciting to shareholders because in 17 00:00:55,410 --> 00:00:57,690 Josh Gilbert: my view, when Apple do it, they usually do it right. 18 00:00:58,050 --> 00:01:02,280 Josh Gilbert: So there's plenty of positivity there, but I think in general, 19 00:01:02,280 --> 00:01:05,130 Josh Gilbert: the way that we've seen tech perform this year has 20 00:01:05,130 --> 00:01:08,399 Josh Gilbert: been pretty outstanding. I think a lot of it comes 21 00:01:08,400 --> 00:01:13,740 Josh Gilbert: down to this expectation of inflation falling and the Fed 22 00:01:14,370 --> 00:01:17,400 Josh Gilbert: bringing down interest rates. Obviously entering this year, there was 23 00:01:17,400 --> 00:01:20,940 Josh Gilbert: plenty of scepticism over tech when we had inflation so 24 00:01:20,940 --> 00:01:24,179 Josh Gilbert: high and the Fed still aggressively raising rates. I think 25 00:01:24,179 --> 00:01:26,369 Josh Gilbert: we've got to maybe in some cases, say a little 26 00:01:26,370 --> 00:01:29,039 Josh Gilbert: bit of thanks to the banking issues that we had, 27 00:01:29,039 --> 00:01:32,729 Josh Gilbert: because that sort of sped up this picture of lower 28 00:01:32,730 --> 00:01:37,530 Josh Gilbert: inflation and a fall in interest rates. Obviously AI has 29 00:01:37,860 --> 00:01:40,080 Josh Gilbert: helped along the way as well, and big names like 30 00:01:40,080 --> 00:01:42,690 Josh Gilbert: Apple are certainly going to be in there as well. 31 00:01:43,170 --> 00:01:46,530 Josh Gilbert: But I think when we look at Apple reaching US$3 trillion, 32 00:01:47,309 --> 00:01:50,760 Josh Gilbert: reaching that prestigious club, I think it's a pretty historic 33 00:01:50,760 --> 00:01:53,220 Josh Gilbert: day for the tech sector and I think it just 34 00:01:53,220 --> 00:01:55,620 Josh Gilbert: points to the strength of the business. As we said, 35 00:01:55,620 --> 00:01:59,040 Josh Gilbert: we talked about that headset there. That is just another 36 00:01:59,040 --> 00:02:01,710 Josh Gilbert: string to Apple's bow and I just think it points 37 00:02:01,710 --> 00:02:03,720 Josh Gilbert: to how good this business really is. 38 00:02:04,320 --> 00:02:09,030 Sean Aylmer: Yeah, I mean why is Apple so good? It is 39 00:02:09,210 --> 00:02:11,160 Sean Aylmer: so much bigger, well, number two company I think is 40 00:02:11,160 --> 00:02:15,120 Sean Aylmer: Microsoft, and it's about half a trillion dollars less in 41 00:02:15,120 --> 00:02:18,719 Sean Aylmer: market cap than Apple is. I mean, is it management? 42 00:02:18,719 --> 00:02:21,330 Sean Aylmer: Is it just its ability to continually come out with 43 00:02:21,330 --> 00:02:23,940 Sean Aylmer: great products? Is it brand, I suppose it's all those 44 00:02:23,940 --> 00:02:24,509 Sean Aylmer: things, Josh. 45 00:02:25,139 --> 00:02:28,440 Josh Gilbert: Exactly. Yeah, it is all of those things. I think brand 46 00:02:28,440 --> 00:02:33,029 Josh Gilbert: is massive. Obviously it's now known everywhere across the world. 47 00:02:33,240 --> 00:02:35,849 Josh Gilbert: Pretty much, you could turn to anybody that you know 48 00:02:35,849 --> 00:02:37,858 Josh Gilbert: and I'm sure they own at least one Apple product, 49 00:02:37,860 --> 00:02:40,019 Josh Gilbert: and I think that speaks for itself. But you can 50 00:02:40,020 --> 00:02:44,699 Josh Gilbert: talk about revenue, we can talk about profit growth, profit margins, 51 00:02:44,699 --> 00:02:48,930 Josh Gilbert: its balance sheet, buybacks, it's got a dividend, and I 52 00:02:48,930 --> 00:02:51,929 Josh Gilbert: think that what it's done this year as well, and 53 00:02:51,929 --> 00:02:54,000 Josh Gilbert: over the last couple of years as well, is it's 54 00:02:54,179 --> 00:02:58,230 Josh Gilbert: reinforced itself, I think, as a safe haven in tech, 55 00:02:58,379 --> 00:03:02,970 Josh Gilbert: but still delivering for investors with growth. It's up more 56 00:03:02,970 --> 00:03:06,329 Josh Gilbert: than 40% so far this year, and I think in 57 00:03:06,330 --> 00:03:10,230 Josh Gilbert: what is an uncertain global backdrop, that's really important. But 58 00:03:10,230 --> 00:03:12,030 Josh Gilbert: we mentioned a few of their products there, but I 59 00:03:12,030 --> 00:03:16,259 Josh Gilbert: think even if we take away iPhones, the Macs, any 60 00:03:16,260 --> 00:03:20,579 Josh Gilbert: of the hardware, we've got another fantastic business in itself 61 00:03:20,580 --> 00:03:24,179 Josh Gilbert: through its service segment. That includes things like Apple Pay, 62 00:03:24,180 --> 00:03:27,779 Josh Gilbert: Apple TV, Apple Music. They're on target to do a 63 00:03:27,780 --> 00:03:31,798 Josh Gilbert: hundred billion in revenue for fiscal year 2024 with services, 64 00:03:31,799 --> 00:03:35,279 Josh Gilbert: which is just a huge, huge number that's growing a 65 00:03:35,279 --> 00:03:38,370 Josh Gilbert: double-digit growth. And I think it just shows how big 66 00:03:38,370 --> 00:03:42,210 Josh Gilbert: their consumer ecosystem is. Once you are in, I think 67 00:03:42,210 --> 00:03:45,360 Josh Gilbert: it's basically impossible to leave and that just points to 68 00:03:45,570 --> 00:03:48,059 Josh Gilbert: Apple Pay and everything else that they have. I think 69 00:03:48,059 --> 00:03:51,149 Josh Gilbert: Apple Pay and what they have there, it is a 70 00:03:51,150 --> 00:03:55,109 Josh Gilbert: fantastic product and they've recently rolled out things like savings 71 00:03:55,109 --> 00:03:58,050 Josh Gilbert: accounts as well. I think Apple is just going to 72 00:03:58,050 --> 00:04:01,080 Josh Gilbert: continue to be this juggernaut that just keeps moving forward. 73 00:04:01,620 --> 00:04:04,559 Sean Aylmer: So the next six months, 12 months, two years for 74 00:04:04,559 --> 00:04:08,730 Sean Aylmer: Apple, you don't expect it to fall behind the pack, 75 00:04:08,759 --> 00:04:10,829 Sean Aylmer: shall we say? And I'm talking about share price terms here. 76 00:04:11,490 --> 00:04:14,640 Josh Gilbert: Yeah, no, look, and I think we're going to see revenue slow down 77 00:04:14,640 --> 00:04:16,710 Josh Gilbert: a little bit because we are obviously seeing consumers slow 78 00:04:16,710 --> 00:04:20,940 Josh Gilbert: down, but I think that where they are losing a 79 00:04:20,940 --> 00:04:23,099 Josh Gilbert: little bit in terms of, I think this is in general 80 00:04:23,099 --> 00:04:27,029 Josh Gilbert: across big tech where revenue growth is slowing down slightly, 81 00:04:27,210 --> 00:04:30,750 Josh Gilbert: that's being held by profit margins and I think that's 82 00:04:30,810 --> 00:04:34,260 Josh Gilbert: going to really keep helping to drive Apple and just 83 00:04:34,290 --> 00:04:37,140 Josh Gilbert: general big tech over the next sort of six months. But yeah, 84 00:04:37,140 --> 00:04:39,570 Josh Gilbert: Apple, it feels like it can't do any wrong at 85 00:04:39,570 --> 00:04:42,089 Josh Gilbert: the moment, especially now it's sort of navigated a lot 86 00:04:42,089 --> 00:04:44,610 Josh Gilbert: of the issues that it had in China and supply 87 00:04:44,610 --> 00:04:47,549 Josh Gilbert: chains. For me, I think that there's probably going to 88 00:04:47,549 --> 00:04:49,770 Josh Gilbert: be a new iPhone coming out within that period as 89 00:04:49,770 --> 00:04:52,229 Josh Gilbert: well, over the next six months. Usually it's towards the 90 00:04:52,230 --> 00:04:54,630 Josh Gilbert: end of the year and I think that will just 91 00:04:54,630 --> 00:04:57,479 Josh Gilbert: give even more optimism as we head into the next 92 00:04:57,480 --> 00:04:58,289 Josh Gilbert: six to 12 months. 93 00:04:58,770 --> 00:05:00,719 Sean Aylmer: Stay with me Josh, we'll be back in a minute. 94 00:05:06,839 --> 00:05:11,820 Sean Aylmer: I'm speaking to Josh Gilbert from eToro. Okay. What about Tesla? Why 95 00:05:11,820 --> 00:05:13,980 Sean Aylmer: has it had such a good time this year? 96 00:05:15,150 --> 00:05:19,109 Josh Gilbert: So again, I think it had a torrid 2022, so I think that 97 00:05:19,200 --> 00:05:24,029 Josh Gilbert: helps. The share price was absolutely crushed in 2022, but 98 00:05:24,869 --> 00:05:28,080 Josh Gilbert: we've seen a bit of a turnaround from Musk. He's 99 00:05:28,080 --> 00:05:30,210 Josh Gilbert: going to be a happy man this year, even if 100 00:05:30,210 --> 00:05:32,010 Josh Gilbert: being the richest man in the world wasn't enough to 101 00:05:32,010 --> 00:05:35,640 Josh Gilbert: keep you happy. But just recently it says they reported 102 00:05:35,910 --> 00:05:42,299 Josh Gilbert: a record quarterly vehicle deliveries, 466,000 deliveries in the quarter, 103 00:05:42,299 --> 00:05:45,630 Josh Gilbert: which was higher than Wall Street estimates. So essentially there 104 00:05:45,630 --> 00:05:48,690 Josh Gilbert: was a lot of worry going into the year from 105 00:05:48,750 --> 00:05:53,969 Josh Gilbert: Wall Street and investors that demand was going to crumble 106 00:05:53,969 --> 00:05:57,988 Josh Gilbert: and in this economic backdrop, consumers wouldn't continue to keep 107 00:05:57,990 --> 00:06:01,620 Josh Gilbert: buying cars. We've seen the complete opposite of that. Yes, 108 00:06:01,650 --> 00:06:04,650 Josh Gilbert: Musk has had to implement price cuts at the start 109 00:06:04,650 --> 00:06:07,799 Josh Gilbert: of the year, but that has paid dividends, that has 110 00:06:07,800 --> 00:06:11,790 Josh Gilbert: helped to drive volumes and those delivery numbers. And as 111 00:06:11,790 --> 00:06:15,690 Josh Gilbert: you say, it's done very well. Up more than 120% 112 00:06:15,690 --> 00:06:18,720 Josh Gilbert: this year. I think that the important thing to note 113 00:06:18,720 --> 00:06:21,779 Josh Gilbert: though is that we're seeing sort of record deliveries. They're 114 00:06:21,779 --> 00:06:25,320 Josh Gilbert: driving numbers out the door, but the one worry with 115 00:06:25,320 --> 00:06:29,070 Josh Gilbert: that, is how it affects margins. If you are cutting 116 00:06:29,070 --> 00:06:32,339 Josh Gilbert: prices to drive volume, then it is going to affect 117 00:06:32,339 --> 00:06:34,049 Josh Gilbert: margins at some point, and I think that's going to 118 00:06:34,049 --> 00:06:37,680 Josh Gilbert: be a key focus later in July when earnings are 119 00:06:37,680 --> 00:06:42,510 Josh Gilbert: handed down, because it's got super impressive margins, by far 120 00:06:42,510 --> 00:06:46,320 Josh Gilbert: the best in the automotive industry, almost triple some of 121 00:06:46,320 --> 00:06:49,258 Josh Gilbert: those other names like Toyota, et cetera. So I think 122 00:06:49,259 --> 00:06:51,659 Josh Gilbert: that's going to be a number that is watched heavily 123 00:06:51,660 --> 00:06:54,810 Josh Gilbert: by Wall Street. Consensus is for around about 20%, and 124 00:06:54,870 --> 00:06:56,760 Josh Gilbert: I think that's going to be the key and the 125 00:06:56,760 --> 00:07:00,479 Josh Gilbert: golden number. If we see a number below 20%, I 126 00:07:00,480 --> 00:07:02,340 Josh Gilbert: think the stock comes under a little bit of pressure 127 00:07:02,730 --> 00:07:05,550 Josh Gilbert: because when you've got gains of more than 120% in 128 00:07:05,550 --> 00:07:07,799 Josh Gilbert: the first six months of the year, you don't leave 129 00:07:07,799 --> 00:07:09,989 Josh Gilbert: yourself any margin for error. So I think that's going 130 00:07:09,990 --> 00:07:11,969 Josh Gilbert: to be a real focal point as we head into 131 00:07:11,969 --> 00:07:12,990 Josh Gilbert: earnings later this month. 132 00:07:13,560 --> 00:07:16,890 Sean Aylmer: Josh, I've got to ask, people always talk about management 133 00:07:16,890 --> 00:07:21,630 Sean Aylmer: being so important running companies, Elon Musk runs Tesla, he 134 00:07:21,630 --> 00:07:27,480 Sean Aylmer: runs Twitter and he runs SpaceX. How? I don't understand 135 00:07:27,809 --> 00:07:30,960 Sean Aylmer: how one individual can run all three. 136 00:07:32,010 --> 00:07:33,840 Josh Gilbert: Yeah, I mean I don't know how he does it either. 137 00:07:34,140 --> 00:07:38,040 Josh Gilbert: He must be superhuman in some cases. But I think again, 138 00:07:38,040 --> 00:07:40,139 Josh Gilbert: a lot of the positivity that we actually saw from 139 00:07:40,139 --> 00:07:44,099 Josh Gilbert: Tesla came after he announced he was sort of stepping 140 00:07:44,099 --> 00:07:47,309 Josh Gilbert: down from to Twitter. So I think that just goes to 141 00:07:47,309 --> 00:07:51,360 Josh Gilbert: show how much he means to this business and why 142 00:07:51,390 --> 00:07:56,100 Josh Gilbert: Wall Street and investors like him and his management style 143 00:07:56,429 --> 00:07:59,099 Josh Gilbert: as much as the product. He is Tesla and I 144 00:07:59,099 --> 00:08:02,820 Josh Gilbert: think that's really important. He has stepped away from Twitter slightly, 145 00:08:02,820 --> 00:08:05,459 Josh Gilbert: although it doesn't seem that way, the way he tweets, 146 00:08:05,459 --> 00:08:08,100 Josh Gilbert: but it does feel like he's pulled in a lot 147 00:08:08,100 --> 00:08:10,440 Josh Gilbert: of different directions. And I think at some point that 148 00:08:10,440 --> 00:08:13,020 Josh Gilbert: will catch up and that will affect I think one 149 00:08:13,020 --> 00:08:15,269 Josh Gilbert: of these businesses somewhere. I'm not sure, as you say, 150 00:08:15,270 --> 00:08:20,429 Josh Gilbert: you can keep running multiple billion dollar businesses and allow them 151 00:08:20,429 --> 00:08:24,930 Josh Gilbert: all to flourish. Maybe he is just superhuman, who knows? 152 00:08:25,140 --> 00:08:27,660 Josh Gilbert: But I think his focus, he's said a couple of times, 153 00:08:27,690 --> 00:08:31,470 Josh Gilbert: is Tesla, and I think that's been really important for the 154 00:08:31,470 --> 00:08:33,660 Josh Gilbert: stock this year to keep doing well because he has 155 00:08:33,660 --> 00:08:36,389 Josh Gilbert: said a number of times that he is putting most 156 00:08:36,389 --> 00:08:40,290 Josh Gilbert: of his effort into Tesla. And no wonder. It is 157 00:08:40,650 --> 00:08:43,980 Josh Gilbert: the business that drives the most profitability for him and 158 00:08:43,980 --> 00:08:45,511 Josh Gilbert: is ultimately his baby. 159 00:08:45,511 --> 00:08:49,080 Sean Aylmer: Okay. So eToro has recently released a whole heap of 160 00:08:49,080 --> 00:08:52,860 Sean Aylmer: data around what stocks Australian investors are buying. Looking at 161 00:08:52,860 --> 00:08:56,099 Sean Aylmer: the US, presume Apple and Tesla must be near the 162 00:08:56,099 --> 00:08:56,850 Sean Aylmer: top of the list. 163 00:08:57,780 --> 00:09:00,809 Josh Gilbert: Yeah, absolutely. Yeah, Tesla and Apple still ruling the roost 164 00:09:00,809 --> 00:09:05,100 Josh Gilbert: there. I think, again, two names that people are very 165 00:09:05,280 --> 00:09:10,050 Josh Gilbert: familiar with. They know these companies very well. Again, either 166 00:09:10,200 --> 00:09:12,750 Josh Gilbert: in Australia, you own a Tesla or you own an 167 00:09:12,750 --> 00:09:14,849 Josh Gilbert: iPhone. I think it's probably one or the other. These 168 00:09:14,849 --> 00:09:19,109 Josh Gilbert: are two companies that everyone knows really well and ultimately 169 00:09:19,410 --> 00:09:22,290 Josh Gilbert: continue to deliver for investors. So that's the key. When 170 00:09:22,290 --> 00:09:25,050 Josh Gilbert: you know a brand and it continues to provide returns, 171 00:09:25,050 --> 00:09:27,299 Josh Gilbert: then there's no reason to not have loyalty to it. 172 00:09:27,809 --> 00:09:30,599 Sean Aylmer: Some of the other data looks at investor behavior. Investors 173 00:09:30,599 --> 00:09:33,480 Sean Aylmer: are feeling less confident now in their portfolios it seems. 174 00:09:34,230 --> 00:09:38,340 Josh Gilbert: Yeah, absolutely. So we have a quarterly survey of 10,000 retail investors. 175 00:09:38,490 --> 00:09:41,880 Josh Gilbert: It's the only real one of its kind. We ask 176 00:09:41,880 --> 00:09:45,540 Josh Gilbert: 1000 retail investors from Australia. So it talks to investors 177 00:09:45,540 --> 00:09:48,750 Josh Gilbert: across 14 countries, as I said, 1000 here in Australia. But it 178 00:09:48,750 --> 00:09:51,929 Josh Gilbert: gives us the ability to look at what's currently impacting 179 00:09:51,929 --> 00:09:55,470 Josh Gilbert: their investment decisions, their outlooks, what they're positive on and 180 00:09:55,710 --> 00:09:59,250 Josh Gilbert: what they're most worried about. And investors are feeling slightly 181 00:09:59,250 --> 00:10:02,880 Josh Gilbert: less confident here in Australia in their portfolios than they 182 00:10:02,880 --> 00:10:07,440 Josh Gilbert: were last quarter. But they still have faith in markets 183 00:10:07,440 --> 00:10:11,760 Josh Gilbert: long term. They're focused on looking at the long term 184 00:10:11,760 --> 00:10:16,740 Josh Gilbert: of this. Their primary goals for investing, about 50% of 185 00:10:17,309 --> 00:10:21,210 Josh Gilbert: the respondents said it's to achieve financial independence. So it's 186 00:10:21,210 --> 00:10:24,689 Josh Gilbert: understandable that I think investors are feeling slightly less confident 187 00:10:25,080 --> 00:10:28,020 Josh Gilbert: so far this year, particularly in Australia. We've had the 188 00:10:28,020 --> 00:10:30,478 Josh Gilbert: RBA that have been much more aggressive, I think, than 189 00:10:30,480 --> 00:10:34,500 Josh Gilbert: many expected going into this year. Rates have, I think, risen probably 190 00:10:34,500 --> 00:10:39,120 Josh Gilbert: further than many economists and most people would've expected. And 191 00:10:39,120 --> 00:10:41,670 Josh Gilbert: we're starting to see a bit of pressure come through 192 00:10:41,670 --> 00:10:45,120 Josh Gilbert: in housing markets. We're starting to see retail spending slow 193 00:10:45,120 --> 00:10:47,279 Josh Gilbert: down a little bit. So it's understandable, I think, to 194 00:10:47,279 --> 00:10:50,070 Josh Gilbert: see a little bit of weakness there across the board. 195 00:10:50,370 --> 00:10:52,679 Josh Gilbert: But as I say, the main thing to take away 196 00:10:52,679 --> 00:10:55,800 Josh Gilbert: from that is that they still have faith, they're continuing 197 00:10:55,800 --> 00:10:59,370 Josh Gilbert: to invest. Their primary goals are to provide that long- 198 00:10:59,370 --> 00:11:03,210 Josh Gilbert: term security to achieve financial independence. And I think that's 199 00:11:03,210 --> 00:11:07,260 Josh Gilbert: really important because we all know that investing is so important 200 00:11:07,260 --> 00:11:08,850 Josh Gilbert: and the earlier that you can get started- 201 00:11:09,150 --> 00:11:09,840 Sean Aylmer: Better off you are. 202 00:11:10,410 --> 00:11:13,290 Josh Gilbert: Exactly that. So I think that yes, we're seeing a 203 00:11:13,290 --> 00:11:16,170 Josh Gilbert: little bit of weakness come through in confidence, and that 204 00:11:16,170 --> 00:11:19,708 Josh Gilbert: is again, inflation, cost of living fears, that why people 205 00:11:19,710 --> 00:11:23,609 Josh Gilbert: are saying this, but they are still planning on increasing 206 00:11:23,609 --> 00:11:25,890 Josh Gilbert: the size of their investment portfolio at the same time. 207 00:11:26,130 --> 00:11:29,040 Josh Gilbert: I think that's really important. Only 8% of our respondents 208 00:11:29,040 --> 00:11:32,338 Josh Gilbert: said they're planning to reduce it. So I think that 209 00:11:32,340 --> 00:11:36,059 Josh Gilbert: comes back to that consistency and continuing to invest, even 210 00:11:36,059 --> 00:11:37,920 Josh Gilbert: if it's really with small amounts. Even if you can 211 00:11:37,920 --> 00:11:41,218 Josh Gilbert: put in $50 a month, that just is really helpful 212 00:11:41,279 --> 00:11:42,330 Josh Gilbert: for long- term success. 213 00:11:42,840 --> 00:11:44,550 Sean Aylmer: Josh, thank you for talking to Fear and Greed. 214 00:11:45,210 --> 00:11:45,960 Josh Gilbert: Thanks for having me Sean. 215 00:11:46,530 --> 00:11:49,470 Sean Aylmer: That is Josh Gilbert, market analyst at social investment network 216 00:11:49,500 --> 00:11:52,559 Sean Aylmer: eToro. This is the Fear and Greed Daily Interview. Remember, 217 00:11:52,559 --> 00:11:55,319 Sean Aylmer: this is general information only and you should seek professional 218 00:11:55,320 --> 00:11:58,708 Sean Aylmer: advice before making any investment decisions. Join us every morning 219 00:11:58,708 --> 00:12:00,809 Sean Aylmer: for the full episode of Fear and Greed, Australia's most 220 00:12:00,809 --> 00:12:04,230 Sean Aylmer: popular business podcast. I'm Sean Aylmer. Enjoy your day.