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Speaker 1: Treasurer Jim Chalmers releases proposed new laws around mergers as

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Speaker 1: ASSEK gives its verdict on whether the ASX is clean

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Speaker 1: A and Z in strife over its operations in the

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Speaker 1: bond market and profits from the Royal Family. The UK

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Speaker 1: Royal Family saw Welcome to Fear and Greed. Daily business

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Speaker 1: news for people who make their own decisions. It is Thursday,

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Speaker 1: the twenty fifth of July twenty twenty four. Are Michael

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Speaker 1: Thompson and Good Morning, Sean Aylmer.

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Speaker 2: Good morning, Michael, Sean the.

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Speaker 1: Main story this morning. Treasurer Jim Chalmers has released draft

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Speaker 1: merger reform legislation which he hopes will make the merger

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Speaker 1: approval system and I quote faster, stronger, simpler, more targeted

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Speaker 1: and more transparent.

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Speaker 2: Let's hope so. Subject to making it through Parliament. The

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Speaker 2: new system will commence in twenty twenty six and aims

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Speaker 2: to speed up the process for mergers that are in

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Speaker 2: the national interest and give the regulator stronger powers. Stronger

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Speaker 2: powers important to keep that in mind to identify and

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Speaker 2: scrutinize transactions that pose a risk to competition, consumers and

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Speaker 2: the economy. Under the proposed rules, the stronger powers for

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Speaker 2: the regulator will theoretically make it easier for the majority

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Speaker 2: of mergers to be approved quickly, so the hbill see

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Speaker 2: that's Australian Competition and Consumer Commission can focus on the

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Speaker 2: minority that give rise to competition concerns. The idea is

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Speaker 2: that mergers should occur and occur quickly and don't get

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Speaker 2: caught up in paperwork. Now. The HABRAC chair Gena Cascott

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Speaker 2: Leap said the reforms are important because they addressed the

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Speaker 2: efficiencies of current merger laws that allow too many tie

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Speaker 2: ups to escape regulatory scrutiny.

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Speaker 1: So how's that going to speed it up? Then?

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Speaker 2: Sure, that's a very good question.

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Speaker 1: If this is going to allow more more kind of

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Speaker 1: deals to be examined more closely, that feels like it's

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Speaker 1: got the potential to slow things down.

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Speaker 2: Yes, I would agree with that. The legislation will still

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Speaker 2: be debated, but it is the idea of finding that

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Speaker 2: fine line allowing or giving the HBRAC enough power to

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Speaker 2: get involved in the takeovers which potentially lessen competition, but

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Speaker 2: then allow them to wave through some of the other ones.

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Speaker 2: I mean, it's a fine line, I agree.

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Speaker 1: Yeah, but at least it's being looked at and reform

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Speaker 1: in this particular case has got to be a good thing.

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Speaker 2: Yeah, I think so.

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Speaker 1: And cleaning up the system actually seems to be a

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Speaker 1: bit of a theme this week, doesn't it, With the

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Speaker 1: Corporate regulator yesterday releasing its review of how well the

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Speaker 1: share market works in Australia really, whether it's a level

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Speaker 1: playing field and generally while things are pretty good, some

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Speaker 1: attacks on the integrity of the market could have hurt

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Speaker 1: mum and Dad investors.

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Speaker 2: The Australian Securities and Investments Commission looked at how the

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Speaker 2: market operates and whether it's clean. That's their word now.

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Speaker 2: Clean in this instance broadly means not too much price

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Speaker 2: action and a stock ahead of an announcement and obviously

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Speaker 2: an announcement that is going to move the price of

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Speaker 2: that stock. Some of the key findings the AX has

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Speaker 2: less than half the amount of unusual trading ahead of

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Speaker 2: MNA activities compared to its global peers. There were two

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Speaker 2: bad periods though, during COVID nineteen and late last year,

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Speaker 2: as corporate activity increased. About five percent of trading activity

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Speaker 2: is what called abnormal. Still seems like a lot to me.

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Speaker 2: The cleanest sector telcos, the least clean real estate investment trusts.

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Speaker 2: The review comes as the alleged ring leaders of one

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Speaker 2: of Australia's largest pump and dump schemes were charged with

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Speaker 2: market rigging in force trading. We can hear a lot

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Speaker 2: more about that case. Yesterday. ASEK was out promoting the

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Speaker 2: fact that it was taking that case on and it

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Speaker 2: was very determined to make sure that trading on the

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Speaker 2: AX is fair for all.

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Speaker 1: All right. Taking a closer look at the ASEX yesterday,

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Speaker 1: how did local markets perform well?

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Speaker 2: The SMPAX two hundred closed down just attached to seven

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Speaker 2: nine hundred and sixty four points. The banks were mixed

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Speaker 2: Anes Eden, Commonwealth Bank lost ground, while National Australian Bank,

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Speaker 2: Westpac and Macquarie Group all rose. The big miners were

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Speaker 2: flat to slightly higher. Some of the oil reliant companies

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Speaker 2: think Woodside, Mpole, VV Energy, Beach Energy, they lost ground

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Speaker 2: on the back of a recent drop and the price

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Speaker 2: of crude. Property stocks were also lower, with Goodman Group

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Speaker 2: and Stockland both off two percent. Transurban was another poor performer.

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Speaker 2: A couple of the healthcare groups did particularly well. RESMD

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Speaker 2: was one. Cocklear, the hearing implant group that was another

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Speaker 2: they were both up more than one percent. Plenty of

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Speaker 2: trading updates around the place at the moment. Of course,

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Speaker 2: next month we have the half year earning season kick in.

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Speaker 2: Tielix Pharmaceuticals fell nearly seven percent after it said it

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Speaker 2: was going to abandon its plans to list on the

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Speaker 2: Naise Deck and it was out raising six hundred and

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Speaker 2: fifty million dollars. Pilbrim Mineral's share price jumped five percent,

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Speaker 2: then it fell all the way back down and ended

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Speaker 2: up finishing up slightly after it recorded a fifty eight

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Speaker 2: percent jump in revenue for the Gyne Quarter. Flight Center

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Speaker 2: dropped four and a half percent after it revised down

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Speaker 2: its underlying profit for fiscal twenty four. The travel company

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Speaker 2: said the change excluded four million dollars in losses from

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Speaker 2: the closure of its Discover Central America's destination management business

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Speaker 2: managementerpetual drop one percent after assets under management fell twelve

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Speaker 2: billion dollars. They've got about two hundred and fifteen billion

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Speaker 2: dollars in assets under management. And another fund manager, Platinum

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Speaker 2: Capital Well its share price rose four percent after announcing

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Speaker 2: it was making changes to its Platinum International Fund.

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Speaker 1: Immediately after the show, Sean We've got an interview coming

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Speaker 1: up today with Marcus Ohm, who's a partner at HLB

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Speaker 1: Man Judd and is the author of the IPO watch Report.

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Speaker 2: Yeah, so we talked to more about the initial public

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Speaker 2: offering market in Australia. Why it's so slow. We've had

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Speaker 2: a few IPAs, Goosman probably being the one that got

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Speaker 2: most publicity, but there's just not a lot going on

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Speaker 2: in the market. We ask him why and what the

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Speaker 2: prognosis is for the future. Now. Of course we want

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Speaker 2: companies on the Australian market. Gives us more options and

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Speaker 2: places to invest in, but it's just not happening at

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Speaker 2: the moment. So we talked to Marcus all about that.

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Speaker 1: It seems like after the Guzmany Gomez listing Sean, there

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Speaker 1: was so much excitement and so much kind of enthusiasm,

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Speaker 1: everyone kind of saying, oh, look the life is back

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Speaker 1: in the IPO space, and then all of a sudden,

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Speaker 1: it lasted for about a week and then it just

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Speaker 1: kind of went back to normal.

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Speaker 2: Yeah. There was the conference yesterday at Bloomberg Conference actually,

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Speaker 2: and one of the speakers a guy called Guy Fowler,

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Speaker 2: A person called Guy Fowler from Barren Joey. He indicated

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Speaker 2: men very well known in the markets. He indicated that

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Speaker 2: there was a bit more movement going on in markets

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Speaker 2: at the moment in kind of the capital raising MNA

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Speaker 2: activity space, So he would know better than the rest

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Speaker 2: of us. But it'll be interesting to see whether that

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Speaker 2: actually eventuates.

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Speaker 1: Yeah, indeed, all right, international markets, anything happening there.

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Speaker 2: Well, Oil snapped a three day run of losses, with

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Speaker 2: French rising back above eighty one US dollars a barrel,

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Speaker 2: and are is back down to about one hundred US

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Speaker 2: dollars a barrel. That hasn't helped the Ausie dollar. It

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Speaker 2: fell to just under sixty six US sense. This is

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Speaker 2: all about the Chinese Third Plenum last week, failing to

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Speaker 2: deliver a stimulus to the world's second largest economy, and

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Speaker 2: because Australia sells lots of iron order China week, demand

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Speaker 2: hurts the dollar. Gold is training back above at twenty

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Speaker 2: four hundred US dollars announced and one bitcoin Michael is

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Speaker 2: fetching just under sixty six thousand US dollars a unit.

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Speaker 1: Hey, John, there's plenty happening. And of course today being Thursday,

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Speaker 1: there is one of our bonus episodes coming out around

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Speaker 1: midday today of Ask Fear and Greed, and we're getting

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Speaker 1: into a very interesting question today from a listener about

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Speaker 1: devaluing the dollar.

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Speaker 2: Yeah, so the US dollar specifically, that's what Donald Trump

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Speaker 2: jod Evans are talking about doing in the US. The

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Speaker 2: question is how do they do it? And so we

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Speaker 2: go through that and whether it's a good or bad thing,

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Speaker 2: because it's interesting. I mean, the dollar is neither good

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Speaker 2: nor bad, but most of us think it is anyway.

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Speaker 2: So we put that out about midday today, Ask Fear

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Speaker 2: and Greed, and it's all about currencies and devaluing the

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Speaker 2: US dollar or the Aussie dollar.

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Speaker 1: Yeah, it is a really interesting question. And of course

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Speaker 1: if you have a question that you would like us

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Speaker 1: to get into. It can be about market, it can

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Speaker 1: be about the economy, it can be about business. Ask

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Speaker 1: Fear and Greed. You can shoot it through at Fearangreed

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Speaker 1: dot com dot au on the website, or head along

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Speaker 1: to LinkedIn or Facebook or Instagram and send your question

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Speaker 1: on through. It can be anonymous as well, sean if

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Speaker 1: you've got something a little bit salacious that you want

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Speaker 1: to ask us, then feel free to use a pseudonym.

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Speaker 1: You can be like a Big Bob or something wants

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Speaker 1: to do.

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Speaker 2: Yeah, let's just take a break.

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Speaker 1: Anyway, stick around for Ask Fear and Greed out at

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Speaker 1: midday every Tuesday and Thursday, Ask Fear and Greed, Sean.

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Speaker 1: Let's move on. We'll be back in a moment with

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Speaker 1: the rest of the day's business news, Sean. The federal

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Speaker 1: government has received about four times what it needs to

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Speaker 1: offload a ten year bond, with fifty five billion dollars

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Speaker 1: in orders for the issue, which was expected to raise

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Speaker 1: between eleven billion and twelve billion.

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Speaker 2: Bond's Michael, sexy stuff. You'd agree.

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Speaker 1: Actually, you know what, you have convinced me of the

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Speaker 1: sex appeal of bonds. I don't know if it's the

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Speaker 1: voice you use and you're doing it or just the

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Speaker 1: subject matter itself.

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Speaker 2: I should put my shirt back on. You're right, yes,

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Speaker 2: please exit.

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Speaker 1: Point guidess a podcast, not a vodcast. Please go on.

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Speaker 2: Look, given this issue was oversubscribed, there's clearly plenty of

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Speaker 2: investor appetite for ten year government bonds, especially when they're

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Speaker 2: yielding four point four to two percent, which brings me,

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Speaker 2: sort of in a roundabout way to ain Z. Really

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Speaker 2: fascinating stuff going on there. The corporate watchdog ASSEK is

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Speaker 2: examining the big bank's role in the sale of fourteen

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Speaker 2: billion dollars worth of government bonds last April. Now, they

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Speaker 2: are only about nineteen organizations that the government trusts to

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Speaker 2: deal with these massive bond issuances, and the larger you are,

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Speaker 2: the better it is. It's emerged that ain Z provided

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Speaker 2: the federal government with inflated bond trading data. Essentially my words,

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Speaker 2: ain Z boosted its resume just as it was trying

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Speaker 2: to win the right to be involved in some bond issuance. Also,

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Speaker 2: it's being investigated by ASEIK for allegedly manipulating what's known

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Speaker 2: as the benchmark ten year futures rate, which is kind

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Speaker 2: of like the cost of the bond. I suppose that's

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Speaker 2: the best way of putting it. Two things there that

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Speaker 2: A and Z is facing. The share price was sold off.

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Speaker 2: It's not about one percent yesterday. The fin review is

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Speaker 2: covering this pretty heavily. I just think an Z is

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Speaker 2: in some hot water on this one.

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Speaker 1: Yeah, it does seem that way. Now, one retailer doing

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Speaker 1: fairly well at the moment is Repco, which is US owned.

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Speaker 1: The automotive parts group is growing just as major competitors,

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Speaker 1: a fighting off takeover attempts.

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Speaker 2: Ripco is owned by New York listed Genuine Parts Company,

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Speaker 2: which reported that it's Australasian automotive parts operations had generated

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Speaker 2: same store sales growth of two point three percent for

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Speaker 2: the June quarter. Pretty good now. Repco has four hundred

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Speaker 2: and ninety stores in Australasia, its main competitor well, its

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Speaker 2: main competitors are part of babcoor now Babcourt runs the Autobarn, Autopro,

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Speaker 2: Burson and Mitas chains. It has eleven hundred outlets selling

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Speaker 2: car parts to mechanics, motoring fans, all sorts of people.

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Speaker 2: Its same store sales growth is forecast to come in

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Speaker 2: at less than one percent, according to a report in

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Speaker 2: the Financial Review. Babcor officially rejected a five dollars forty

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Speaker 2: per share offer from Bain on July nine, saying it

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Speaker 2: didn't represent fair value. It closed yesterday at five dollars

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Speaker 2: eight eeen. But obviously just it appears that its growth

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Speaker 2: isn't as strong as Repco, so that will put pressure

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Speaker 2: on its share price.

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Speaker 1: This is an interesting one shown the Aboriginal and Torres

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Speaker 1: Strait Islander population of Australia is now over one million people,

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Speaker 1: an increase of six percent since June twenty twenty one.

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Speaker 2: Yeah, it's actually a projection based on levels of fertility, paternity,

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Speaker 2: mortality and internal migration, and it suggests the number will

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Speaker 2: reach about one point two million by twenty thirty one.

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Speaker 2: While Indigenous Australians are more likely to be living in

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Speaker 2: the regions than non Indigenous Australians, there is a shift

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Speaker 2: towards major cities. Perth is projected to be the fastest

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Speaker 2: growing indigenous region. It's expected to grow by about two

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Speaker 2: point eight percent on average annually over the next ten years.

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Speaker 2: Brisbane is next about two point seven percent. Now. New

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Speaker 2: South Wales is the state with most Ooriginal and Torrestrait

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Speaker 2: Islanders in it. In total, the group comprised about three

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Speaker 2: point eight percent of Australia's population.

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Speaker 1: And along the same lines showing the number of Kiwis

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Speaker 1: living in Australia has hit seven hundred thousand for the

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Speaker 1: first time thanks to a few rule changes which help

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Speaker 1: New Zealand citizens gain residency here.

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Speaker 2: Yes, there were thirty five thousand Kiwis flowing into Australia

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Speaker 2: in the eleven months to the end of May. According

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Speaker 2: to the Bureau of Statistics, before the pandemic, on average

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Speaker 2: it was about ten thousand a year, so we've gone

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Speaker 2: from ten thousand to thirty five thousand. Australia's economy, particularly

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Speaker 2: the labor market, is much stronger than New Zealand's. While

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Speaker 2: since January, anyone granted an independent skilled visa can immediately

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Speaker 2: apply for Australian residency. Previously they had to wait for

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Speaker 2: twelve months. The other interesting fact from the ABS today

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Speaker 2: more than five kiwis who head overseas to Australia. Now,

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Speaker 2: I'd imagine it's a stopover for many of them on

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Speaker 2: the way through, but still it was eighty four percent

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Speaker 2: go via Australia or at least come to Australia.

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Speaker 1: There you go. Goodness me, you love your statistics, don't.

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Speaker 2: It's a big stat state today.

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Speaker 1: It certainly is. Turning to international news now, Kamala Harris

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Speaker 1: has quickly emerged as a force to be reckoned with,

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Speaker 1: even before officially becoming the nominee for the Democrats, and

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Speaker 1: in her first rally as leading candidate for the Democrats,

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Speaker 1: she said the November election will be and I quote,

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Speaker 1: a choice between freedom and chaos.

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Speaker 2: Yes, Miss Harris raised one hundred and fifty million dollars

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Speaker 2: from donors in just three days, and Router's IPSOS poll

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Speaker 2: overnight suggested Harris was two percentage points ahead of Donald Trump,

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Speaker 2: no doubt helped by the initial enthusiasm from Wiesbred media coverage.

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Speaker 2: Harris is already traveling through important working class states like

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Speaker 2: Wisconsin and Michigan and Pennsylvania. She really needs to win

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Speaker 2: those states if she hopes to win the November poll.

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Speaker 1: Yeah, and it's worth going back and having a listen

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Speaker 1: to your interview from yesterday with Bruce Wolpe, who, of

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Speaker 1: course knows this space so well. He worked with the

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Speaker 1: Obama administration, and he really talks about the fact that

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Speaker 1: that now this is a contest, there's actually a chance

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Speaker 1: now for the Democrats, and it's really going to be

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Speaker 1: a competition now between Trump and Harris over the next

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Speaker 1: what three and a half months.

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Speaker 2: Yeah, I mean Trump is still favorite. I think that's

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Speaker 2: important to point that out. Lots of enthusiasm about Carmela

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Speaker 2: Harris at the moment, but the next well, what Bruce

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Speaker 2: says is the next few weeks will tell an interesting tale.

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Speaker 1: Yeah. Indeed, definitely worth a listen though, to that chat

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Speaker 1: from yesterday, Elon Musk sean has asked Tesla's shareholders to

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Speaker 1: be patient. I'm sure they all want to hear after

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Speaker 1: the ev manufacturer reported its fourth straight disappointing quarterly result.

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Speaker 2: Yes, Elon Musk asking for patients ironic, isn't it? So?

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Speaker 2: I don't think he's known for it?

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Speaker 1: Do you reckon? Elon Musk has ever shown patients himself?

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Speaker 2: No?

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Speaker 1: No.

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Speaker 2: For the Gune quarter, Tesla's profits were disappointing, their sales

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Speaker 2: were higher, the margin it makes on cars are narrowed,

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Speaker 2: and in after hours trading at share price tumbled eight percent.

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Speaker 2: Mister Musk told investors that Tesla won't unveil the highly

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Speaker 2: anticipated robot taxi until October, and it will only be

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Speaker 2: a prototype. A new lower cost car won't go into

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Speaker 2: production until the first half of next year at the

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Speaker 2: earliest planned factory in Mexico is on pause, and a

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Speaker 2: humanoid robot that Musk claims will send Tesla's valuation soaring

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Speaker 2: won't be ready anytime soon. Lots of bad news Also

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Speaker 2: hurting Tesla is emissions credit sales. Now I must say

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Speaker 2: I didn't realize this Tesla sells credits to other car

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Speaker 2: makers seeking to comply with the missions mandates, and only

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Speaker 2: half as many of those were sold in the June quarter,

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Speaker 2: so I just didn't get the cash for those emissions credit.

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Speaker 2: I think they're kind of an interesting concept.

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Speaker 1: I was not aware that even took place.

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Speaker 2: So presumably car manufacturers must be limited in terms of

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Speaker 2: the emissions they can push out. Obviously, Tesla, being an

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Speaker 2: ev doesn't emit, so it's got these surplus of them

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Speaker 2: and it sells them to other car manufacturers.

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Speaker 1: Additional revenue stream. I've learned something. I mean I learned

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Speaker 1: things earlier in the podcast as well. Yeah, but I've

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Speaker 1: learned something just then as well. I've learned something with

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Speaker 1: this next one. Sure, this is an incredible story. Profits

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Speaker 1: from the Crown Estate and we're talking the windsors in

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Speaker 1: the UK jumped to about one point one billion pounds

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Speaker 1: last year or nearly two billion Aussie dollars on the

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Speaker 1: back of some pretty smart deals involving the leasing of

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Speaker 1: seabed sites to offshore wind producers.

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Speaker 2: The Crown of State Annual Report says that earnings last

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Speaker 2: year more than double and as a result, the money

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Speaker 2: the Royal family receives from the government aka the Sovereign

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Speaker 2: Grant will rise from eighty six million pounds to one

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Speaker 2: hundred and thirty two million pounds. Now a net profit

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Speaker 2: from the Crown Estate is passed back to the government

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Speaker 2: in return for a fixed yearly payment. King Charles the

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Speaker 2: Third he has for a while been pushing for the

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Speaker 2: Sovereign Grant to be lowered. And this year it's only

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Speaker 2: twelve percent of profits. It was twenty five percent of profits.

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Speaker 2: So you can imagine it's getting one hundred and thirty

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Speaker 2: two million pounds. If it was the old rules which

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Speaker 2: Charles changed, they'd be getting more like two hundred and

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Speaker 2: sixty two hundred and seventy million pounds, and that might

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Speaker 2: actually cause a pr disaster, I dare say. Some other

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Speaker 2: interesting facts from the annual port According to the New

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Speaker 2: York Times, the number of visitors to Buckingham Palace and

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Speaker 2: Windsor Castle returned to almost pre COVID levels. Family members

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Speaker 2: took part in twenty three hundred engagements in Britain and

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Speaker 2: abroad last year. Now, yeah, one hundred that when Queen

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Speaker 2: Elizabeth the Second the year before Queen Elizabeth the Second

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Speaker 2: was alive. Obviously, she and her family managed thirty two

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Speaker 2: hundred official engagements, but over the last twelve months. Keep

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Speaker 2: in mind that Charles and Princess Cate of Wales, I

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Speaker 2: think it's Princess Castin of Wales should say that Michael

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Speaker 2: have had illnesses. They are the two of the main

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Speaker 2: people that actually attend many of these engagements. So it

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Speaker 2: was twenty three hundred engagements. The number of messages the

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Speaker 2: King and the Princess received by mail wishing them well

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Speaker 2: following their health announcements was twenty seven thousand, six hundred

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Speaker 2: and twenty and Buckingham Palace is also making progress on

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Speaker 2: its goal to recruit a more diverse workforce. The palace

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Speaker 2: at eleven point four percent of it employees were from

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Speaker 2: ethnic minorities. That is still well short of its I

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Speaker 2: dare say conservative objective of fourteen percent by next year.

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Speaker 1: Yes, that is still quite conservative, isn't it sure that

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Speaker 1: number twenty three hundred engagements. I know that the three

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Speaker 1: two hundred is obviously more, But even just looking at

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Speaker 1: that twenty three hundred engagements in the last year, that's

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Speaker 1: an average of six point three engagements per day, and

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Speaker 1: I know that there's quite a sizeable family there.

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Speaker 2: But still, yeah, it's huge, isn't it.

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Speaker 1: It's a lot of engagement, Like if I have one

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Speaker 1: engagement a week, that's too much for me.

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Speaker 2: You would never do as a royal though, you wouldn't

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Speaker 2: want to have your head.

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Speaker 1: No, no, that's fine. I just do all of my

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Speaker 1: engagements via zoom. I am staggered by that. Yeah, oh gosh,

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Speaker 1: what a day it's been today, Sewan. I've learnt so much.

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Speaker 2: From you, so much going on.

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Speaker 1: Up next is the Fear and Greed Daily Interview. Marcus Olm,

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Speaker 1: partner at HLB Manjard and the author of the IPO

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Speaker 1: Watch Report, is your guest, Yes.

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Speaker 2: Talking about the IPO market, the initial public offering market.

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Speaker 2: What's happening there in White's so slow in Australia.

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Speaker 1: It is up next in the Fear and Greed playlist

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Speaker 1: on your podcast platform or at Fearingngreed dot com dot au.

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Speaker 1: And don't forget at midday there is the bonus episode

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Speaker 1: Ask Fear and Greed, just three or four or five

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Speaker 1: minutes of us answering listener questions and if you've got

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Speaker 1: your own question, make sure you send it through. And Sewan,

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Speaker 1: I forgot to mention this yesterday. Yesterday was Wednesday, which

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Speaker 1: means there's a new episode of our sister podcast. How

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Speaker 1: do they afford that?

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Speaker 2: What was that one about? Michael?

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Speaker 1: Well, Sean, thanks for asking. It was actually part two

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Speaker 1: of an episode that we started last week, and I

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Speaker 1: didn't mention it last week because I wasn't here. But

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Speaker 1: we are joined in the studio obviously. I am joined

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Speaker 1: every week by Canna Campbell, financial planner and founder of

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Speaker 1: Sugar Mumber TV. She's a financial planner who really kind

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Speaker 1: of specializes in personal finance. We get into her personal finances,

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Speaker 1: in her relationship. Her partner Tom actually joined us. And

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Speaker 1: it's really quite voyeuristic. It's a little bit salacious. It's

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Speaker 1: all this kind of stuff, but it is great to

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Speaker 1: listen to. Like I was sitting there in the studio going,

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Speaker 1: I'm asking questions. I don't really know whether I should

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Speaker 1: be allowed to ask these things. I was asking about

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Speaker 1: kind of pre nuptial agreements, all these kinds of things.

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Speaker 1: Its great, great fun for me.

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Speaker 2: Wow. And they were happy to answer it.

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Speaker 1: They answered everything I put to them. They were both

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Speaker 1: fantastic with it. So it's just an insight into how

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Speaker 1: money works in a relationship. When one person has a

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Speaker 1: great deal of knowledge about money. So I just thought

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Speaker 1: it was a fascinating kind of and very good of

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Speaker 1: them to be so open about it. Anyway, I'll put

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Speaker 1: a link to the episode in today's show notes and

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Speaker 1: you can find how do they afford that wherever you

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Speaker 1: listen to podcasts as well. Thank you Sean, Thank you Michael.

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Speaker 1: It is Thursday, the twenty fifth of June twenty twenty four.

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Speaker 1: Make sure you're following the podcast and please join us

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00:21:26,960 --> 00:21:30,640
Speaker 1: online on LinkedIn, Instagram, x TikTok and Facebook. I'm Michael Thompson.

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Speaker 1: And that was Fear and Greed. Have a great day.