1 00:00:06,240 --> 00:00:08,639 Speaker 1: This is the weekend edition of Fear and Greed, daily 2 00:00:08,680 --> 00:00:11,080 Speaker 1: business news for people who make their own decisions. Are 3 00:00:11,160 --> 00:00:13,640 Speaker 1: Michael Thompson and good morning, Sean. 4 00:00:13,400 --> 00:00:16,280 Speaker 2: Aylmer, Good morning, Michael, Now Seawan. 5 00:00:16,360 --> 00:00:19,760 Speaker 1: Our weekend show is vastly different to our weekday show 6 00:00:19,920 --> 00:00:23,320 Speaker 1: because here this is a competition. We are each nominating 7 00:00:23,320 --> 00:00:26,200 Speaker 1: what we think is the biggest business story of the week, 8 00:00:26,560 --> 00:00:30,000 Speaker 1: the most remarkable business story, a sleeper story which is 9 00:00:30,040 --> 00:00:31,960 Speaker 1: one that's kind of flying under the radar a little bit, 10 00:00:32,040 --> 00:00:33,240 Speaker 1: or is going to be a bigger. 11 00:00:33,040 --> 00:00:34,080 Speaker 2: Story further down the track. 12 00:00:34,120 --> 00:00:35,280 Speaker 1: So we've got to do a bit of kind of 13 00:00:35,720 --> 00:00:39,559 Speaker 1: fortune telling there, and then our favorite story as well 14 00:00:39,560 --> 00:00:42,560 Speaker 1: as another category. And because it's a competition, we need 15 00:00:42,640 --> 00:00:46,440 Speaker 1: a judge to decide a winner, and that judge is 16 00:00:46,520 --> 00:00:50,600 Speaker 1: our Fear and Greed colleague, Adam Lang Adam, good morning. 17 00:00:50,440 --> 00:00:52,040 Speaker 3: Good morning, Michael, Good morning, Sean. 18 00:00:52,440 --> 00:00:54,040 Speaker 2: Morning Sleepy. 19 00:00:54,760 --> 00:00:58,640 Speaker 1: We've had a little incident this morning, Yes, a reportable 20 00:00:58,760 --> 00:01:03,960 Speaker 1: incident that normally, normally this recording would have happened half 21 00:01:03,960 --> 00:01:05,199 Speaker 1: an hour ago. 22 00:01:05,480 --> 00:01:07,319 Speaker 2: Half an hour ago, an hour ago. 23 00:01:07,480 --> 00:01:10,600 Speaker 1: I'm being kind, I'm being generous. One of the three 24 00:01:10,600 --> 00:01:13,919 Speaker 1: of us, the one who was tasked with keeping us 25 00:01:14,040 --> 00:01:17,280 Speaker 1: in line with order and responsibility and all this kind 26 00:01:17,280 --> 00:01:20,840 Speaker 1: of thing. We were just sitting we were sitting in 27 00:01:20,840 --> 00:01:23,039 Speaker 1: the studio, Sean and I was looking at each other, going, 28 00:01:24,520 --> 00:01:25,360 Speaker 1: what's going on here? 29 00:01:25,920 --> 00:01:26,720 Speaker 2: A rare event. 30 00:01:27,000 --> 00:01:30,960 Speaker 3: It's like time stood still and in a way didn't matter. 31 00:01:31,560 --> 00:01:35,640 Speaker 2: I slept in. I'm very sorry, wow, very very For 32 00:01:36,120 --> 00:01:40,319 Speaker 2: new listeners, Adam is the pedant. He's the guy that 33 00:01:40,440 --> 00:01:43,000 Speaker 2: gets there at two minutes to see stop praising me. 34 00:01:44,319 --> 00:01:48,880 Speaker 2: He loves spreadsheets, he loves you know, when you buy 35 00:01:49,000 --> 00:01:52,360 Speaker 2: something on the company credit card, which doesn't happen that often, 36 00:01:52,880 --> 00:01:56,280 Speaker 2: you get this email, did you spend seven dollars fifty one? 37 00:01:56,400 --> 00:01:57,760 Speaker 2: And do you have a receipt? 38 00:01:58,360 --> 00:01:59,840 Speaker 3: Look, I'm just thinking on behalf of the A. 39 00:02:00,320 --> 00:02:01,279 Speaker 2: That's our man, Adam. 40 00:02:01,640 --> 00:02:02,760 Speaker 3: They need and want to know. 41 00:02:03,200 --> 00:02:06,840 Speaker 1: Anyway, Adam, I am hoping that this will not kind 42 00:02:06,840 --> 00:02:11,160 Speaker 1: of impair your judgments this morning. No, it's certainly not 43 00:02:11,200 --> 00:02:13,960 Speaker 1: going to make them more erratic than they usually are. 44 00:02:14,280 --> 00:02:18,560 Speaker 1: I don't know that's actually possible. What just very quickly, 45 00:02:18,600 --> 00:02:21,600 Speaker 1: because we want to get straight into the show this morning. Good, 46 00:02:22,480 --> 00:02:25,240 Speaker 1: What are you looking for? What are the criteria that 47 00:02:25,320 --> 00:02:27,280 Speaker 1: you will be searching for as Sean, and I give 48 00:02:27,320 --> 00:02:29,400 Speaker 1: you our story nominations. 49 00:02:29,680 --> 00:02:32,480 Speaker 3: Very good. So we have the biggest, the most remarkable, 50 00:02:32,480 --> 00:02:35,360 Speaker 3: the sleeper, and the favorite story of the week categories. 51 00:02:35,400 --> 00:02:40,519 Speaker 3: All four categories will be judged on this topicality, timeliness, 52 00:02:41,240 --> 00:02:47,040 Speaker 3: economic impact. Because we're a business news podcast, my subjective bias. 53 00:02:47,080 --> 00:02:49,000 Speaker 3: I'd like it if you play to that a little 54 00:02:49,120 --> 00:02:53,920 Speaker 3: and of course the theatrics, the melodrama bring it all right. 55 00:02:53,960 --> 00:02:56,440 Speaker 1: Okay, I think we can tick most of those boxes. 56 00:02:57,840 --> 00:02:58,880 Speaker 1: Shall I go first? 57 00:02:58,960 --> 00:03:00,720 Speaker 2: Sean? Are you okay with this? If I go first 58 00:03:00,760 --> 00:03:03,239 Speaker 2: for the biggest I would love you to go first. 59 00:03:03,320 --> 00:03:07,680 Speaker 1: Well, I am talking about the there's only one contender 60 00:03:08,000 --> 00:03:09,320 Speaker 1: actually for the biggest story. 61 00:03:09,400 --> 00:03:10,520 Speaker 2: So it's a little bit unfairst. 62 00:03:10,520 --> 00:03:12,600 Speaker 1: What we used to call in high school a non debate, 63 00:03:12,680 --> 00:03:16,919 Speaker 1: like denying the opposition of debate in debate, a debater. 64 00:03:16,639 --> 00:03:19,000 Speaker 2: At school, Yes, of course I was a nerd. 65 00:03:19,840 --> 00:03:24,040 Speaker 1: Was yeah, don't you like you can talk? 66 00:03:24,960 --> 00:03:26,160 Speaker 3: Heck I embrace. 67 00:03:26,760 --> 00:03:28,840 Speaker 2: He would have been the debate captain. Yeah. 68 00:03:29,919 --> 00:03:35,040 Speaker 1: The economic growth. We need to talk about the economy. 69 00:03:36,560 --> 00:03:43,520 Speaker 1: The Australian economy grew by just not point three, zero 70 00:03:43,560 --> 00:03:48,120 Speaker 1: point three percent in the September quarter. That is not 71 00:03:48,200 --> 00:03:52,880 Speaker 1: zero point eight percent, zero point eight percent annual growth 72 00:03:53,080 --> 00:03:57,440 Speaker 1: in GDP. Wh Like this is me almost in a panic, 73 00:03:57,680 --> 00:04:02,800 Speaker 1: right about the stuff about easy stuff the economy excluding 74 00:04:02,840 --> 00:04:03,560 Speaker 1: the pandemic. 75 00:04:03,800 --> 00:04:06,640 Speaker 2: Right, what's happened? Michael tell us that is. 76 00:04:06,560 --> 00:04:12,520 Speaker 1: The weakest, the weakest annual GDP figure since the early 77 00:04:12,840 --> 00:04:13,960 Speaker 1: nineties recession. 78 00:04:13,960 --> 00:04:17,160 Speaker 2: The last time growth was this bad except for the pandemic. 79 00:04:17,240 --> 00:04:18,320 Speaker 2: Don't forget it. I did say that. 80 00:04:18,400 --> 00:04:22,400 Speaker 1: I did say that you were over, you tuned out, 81 00:04:22,680 --> 00:04:25,760 Speaker 1: your eyes glazed over, and you closed your ears. 82 00:04:25,440 --> 00:04:28,840 Speaker 2: And you just switched off, keep going. 83 00:04:29,080 --> 00:04:32,800 Speaker 1: The last time growth was this bad, I touched myself 84 00:04:33,120 --> 00:04:34,359 Speaker 1: was on the charts. 85 00:04:35,000 --> 00:04:41,720 Speaker 2: H what's her name? CHRISTI great band, magnificent singer. 86 00:04:41,680 --> 00:04:46,000 Speaker 1: I'm Too Sexy was also there as well, right, said Fred, Yes, 87 00:04:47,080 --> 00:04:49,120 Speaker 1: some of our listeners might not have even been alive 88 00:04:49,520 --> 00:04:51,120 Speaker 1: when economic growth was this bad. 89 00:04:51,240 --> 00:04:52,040 Speaker 3: Many of them. 90 00:04:52,320 --> 00:04:57,200 Speaker 2: Yeah, like this is this is extraordinary stuff. Yes, it is. 91 00:04:57,320 --> 00:05:00,200 Speaker 2: When and when you take a deep dive, right, it's 92 00:05:00,200 --> 00:05:00,480 Speaker 2: just like. 93 00:05:00,440 --> 00:05:03,440 Speaker 1: A as I'm doing this little deep diver look more 94 00:05:03,440 --> 00:05:06,000 Speaker 1: like a meerkat than anything else kind of diving. But 95 00:05:07,240 --> 00:05:09,240 Speaker 1: and I realized now that doing this, that video is 96 00:05:09,240 --> 00:05:11,159 Speaker 1: going to end up on our Instagram or something. So 97 00:05:11,760 --> 00:05:17,480 Speaker 1: I'm filled with regret. The trade and residential construction added 98 00:05:17,520 --> 00:05:20,799 Speaker 1: slightly to growth, lower consumer spending. 99 00:05:20,400 --> 00:05:21,320 Speaker 2: Detracted from it. 100 00:05:21,520 --> 00:05:26,240 Speaker 1: All Right, private sector demand going backwards without public sector 101 00:05:26,240 --> 00:05:28,880 Speaker 1: spending here is the key. Right, here is the key 102 00:05:28,920 --> 00:05:33,039 Speaker 1: to all of this. Without public sector spending, we would 103 00:05:33,040 --> 00:05:35,040 Speaker 1: be in serious trouble right now. And we had Treasurer 104 00:05:35,160 --> 00:05:38,719 Speaker 1: Jim Chalmers making the comment that the private sector needs 105 00:05:38,720 --> 00:05:42,000 Speaker 1: to drive growth from here. That is a call to 106 00:05:42,440 --> 00:05:47,120 Speaker 1: arms to the business community to save the Australian economy. 107 00:05:47,240 --> 00:05:51,080 Speaker 1: Now Business Business has hit back at that, telling Jim 108 00:05:51,120 --> 00:05:54,520 Speaker 1: Charmers that hey, you're the problem mate. The bosses of 109 00:05:54,600 --> 00:05:57,359 Speaker 1: BHP and we's farmers have said, if you want the 110 00:05:57,360 --> 00:05:59,600 Speaker 1: private sector to recover, if you want us to lead 111 00:05:59,640 --> 00:06:02,200 Speaker 1: this check charge, then you need to make some changes. 112 00:06:02,240 --> 00:06:05,160 Speaker 1: You need to overhaul the uncompetitive tax system. You need 113 00:06:05,200 --> 00:06:07,520 Speaker 1: to reverse the changes that your government has made to 114 00:06:08,120 --> 00:06:10,120 Speaker 1: IR laws, to industrial relations laws. 115 00:06:10,360 --> 00:06:11,080 Speaker 2: It is on. 116 00:06:11,560 --> 00:06:14,640 Speaker 1: This is a battle between the government and business. 117 00:06:14,640 --> 00:06:14,839 Speaker 2: Now. 118 00:06:14,960 --> 00:06:18,360 Speaker 1: The RBA meets next week. They would have been surprised, 119 00:06:18,440 --> 00:06:21,159 Speaker 1: I suspect by these numbers because they were forecasting higher 120 00:06:21,200 --> 00:06:22,840 Speaker 1: growth by the end of the year. They are still 121 00:06:22,880 --> 00:06:24,920 Speaker 1: low focused on inflation and getting that lover. So no 122 00:06:25,040 --> 00:06:27,880 Speaker 1: rate cuts anytime soon. Biggest story of the week by 123 00:06:28,040 --> 00:06:32,080 Speaker 1: far economic growth and what it now means for this 124 00:06:32,200 --> 00:06:35,920 Speaker 1: showdown between government and business in Australia, what it all 125 00:06:35,920 --> 00:06:38,800 Speaker 1: means for every single one of us living in this country. 126 00:06:39,200 --> 00:06:46,279 Speaker 2: Sean over to you. When everyone woke up on Thursday morning, 127 00:06:46,279 --> 00:06:49,919 Speaker 2: Friday morning, even this morning, do you think their life 128 00:06:50,000 --> 00:06:52,480 Speaker 2: changed because we had an economic growth figure of er 129 00:06:52,520 --> 00:06:55,600 Speaker 2: point three percent during the September quarter. I suspected did 130 00:06:56,800 --> 00:06:58,440 Speaker 2: What about if they went to the shops. What if 131 00:06:58,440 --> 00:07:02,560 Speaker 2: they went to Woollies to buy their favorite tonic water 132 00:07:03,120 --> 00:07:08,440 Speaker 2: for example, not on the shelf. What if they went 133 00:07:08,560 --> 00:07:14,720 Speaker 2: to buy their favorite spread for breakfast? The humanity? The humanity? 134 00:07:14,840 --> 00:07:17,840 Speaker 2: What if they went to do their shopping basket and 135 00:07:17,920 --> 00:07:20,520 Speaker 2: couldn't find the food? Day on the biggest story of 136 00:07:20,520 --> 00:07:23,840 Speaker 2: the week in terms of actually impacting people as opposed 137 00:07:23,840 --> 00:07:28,240 Speaker 2: to some academic economics out there. Michael, you were talking 138 00:07:28,280 --> 00:07:32,120 Speaker 2: about was it a final public demand? Right? I don't 139 00:07:32,120 --> 00:07:34,240 Speaker 2: even think you knew what that means. That means government spending. 140 00:07:34,320 --> 00:07:35,880 Speaker 2: I put it into English. If you going to talk 141 00:07:35,880 --> 00:07:39,720 Speaker 2: to people, public demand is government spending? Everyone out there right, 142 00:07:39,880 --> 00:07:42,080 Speaker 2: Michael had no idea what he was talking about, what 143 00:07:42,320 --> 00:07:46,080 Speaker 2: really mattered this week? How dare you? How dare you 144 00:07:46,560 --> 00:07:51,760 Speaker 2: Adam penalize this man for new listeners. Normally I always 145 00:07:51,760 --> 00:07:55,480 Speaker 2: did the economic stories, but the atrocious behavior of both 146 00:07:55,560 --> 00:07:58,000 Speaker 2: Michael and Adam meant I had a dummy spit about 147 00:07:58,000 --> 00:08:00,280 Speaker 2: four months ago. I mean it was desserve I mean 148 00:08:00,560 --> 00:08:03,640 Speaker 2: I should have had a dumby bit and I refuse 149 00:08:03,720 --> 00:08:05,040 Speaker 2: to do economics for the rest of the year. So 150 00:08:05,080 --> 00:08:07,600 Speaker 2: we end up with Michael doing economics talking about stuff 151 00:08:07,600 --> 00:08:08,760 Speaker 2: he has no idea about anyone. 152 00:08:08,840 --> 00:08:11,320 Speaker 1: You know what, you know what as the man of 153 00:08:11,360 --> 00:08:15,480 Speaker 1: the people, this guy over here, the heavy limit, the 154 00:08:15,520 --> 00:08:20,040 Speaker 1: meerkat in the studio. I am happy to take on 155 00:08:20,080 --> 00:08:23,040 Speaker 1: that burden because you know what, I talk about, how 156 00:08:23,040 --> 00:08:26,120 Speaker 1: it affects me, and if it affects me, it affects 157 00:08:26,200 --> 00:08:29,960 Speaker 1: every day. Joe's ricks and you're talking about Frannie's in 158 00:08:29,960 --> 00:08:30,360 Speaker 1: the street. 159 00:08:30,680 --> 00:08:33,840 Speaker 2: Why are you talking about final public demand, Sean? The 160 00:08:33,880 --> 00:08:37,560 Speaker 2: big story is the fact you got a Woolies. The 161 00:08:37,640 --> 00:08:41,080 Speaker 2: shelves aren't stocked. It's because of a warehouse workers strike, 162 00:08:41,480 --> 00:08:44,400 Speaker 2: three sites in Victoria, one in New South Wales. It's 163 00:08:44,400 --> 00:08:48,880 Speaker 2: also hitting endeavor group outlets. That that's Dan Murphy's BWUS. 164 00:08:49,200 --> 00:08:51,679 Speaker 2: Now Willies has been negotiating with the United Workers Union 165 00:08:51,720 --> 00:08:54,040 Speaker 2: for four months. They want a pay increase of will 166 00:08:54,040 --> 00:08:56,840 Speaker 2: over twenty five percent over three years. They also want 167 00:08:56,920 --> 00:09:00,600 Speaker 2: Woolies to scrap a new set of rules around how 168 00:09:00,640 --> 00:09:04,040 Speaker 2: fast workers operate. That seems to be the pointy end 169 00:09:04,160 --> 00:09:08,199 Speaker 2: of it at the end of the day, right, what 170 00:09:08,360 --> 00:09:12,320 Speaker 2: affects people in real life, it's whether or not you 171 00:09:12,360 --> 00:09:15,280 Speaker 2: can go to the store, buy your goods, get your 172 00:09:15,320 --> 00:09:18,000 Speaker 2: stuff for Christmas. I mean, this is happening in December, 173 00:09:18,040 --> 00:09:19,720 Speaker 2: which is the biggest time of the year for Woolies 174 00:09:19,920 --> 00:09:22,520 Speaker 2: in terms of sales, so they'll lose tens of millions 175 00:09:22,559 --> 00:09:25,560 Speaker 2: of dollars on the back of it. But the common folk, Michael, 176 00:09:25,600 --> 00:09:28,800 Speaker 2: the common folk who just want their what is it? 177 00:09:28,880 --> 00:09:32,400 Speaker 2: Eagle flower? What elder elderflower? 178 00:09:33,240 --> 00:09:35,480 Speaker 1: The biggest question, the biggest concern most people have is 179 00:09:35,480 --> 00:09:39,079 Speaker 1: whether this story will finish before Christmas. This is going on. 180 00:09:39,440 --> 00:09:41,559 Speaker 2: Rob Scott, the boss of Wars Farmers, not Woolies, the 181 00:09:41,559 --> 00:09:43,800 Speaker 2: boss of words farmers. He came out and said, repercussions 182 00:09:43,840 --> 00:09:46,920 Speaker 2: are we far reaching. Industrial disputes are eating into supply 183 00:09:47,080 --> 00:09:49,640 Speaker 2: chains that's going to be felt in prices. We're going 184 00:09:49,640 --> 00:09:51,839 Speaker 2: to end up with high prices. Infation is going to 185 00:09:51,920 --> 00:09:54,000 Speaker 2: kick off again. That's kind of what he was inferring much. 186 00:09:54,040 --> 00:09:55,720 Speaker 2: Whether it's quite true. Of course, we've got to cost 187 00:09:55,720 --> 00:09:59,200 Speaker 2: a living crisis going on this. I mean, Michael, I 188 00:09:59,240 --> 00:10:02,319 Speaker 2: appreciate your story may win this because Adam likes all 189 00:10:02,360 --> 00:10:06,600 Speaker 2: that boring academic stuff. But in terms of what actually 190 00:10:06,640 --> 00:10:10,199 Speaker 2: affects people, what matters whether or not you can buy 191 00:10:10,200 --> 00:10:14,200 Speaker 2: your stuff out of Will Coles or Dan Murphy's that's 192 00:10:14,240 --> 00:10:15,640 Speaker 2: what matters, Adam. 193 00:10:16,080 --> 00:10:19,439 Speaker 1: I love that Dan Murphys is singled out there, and 194 00:10:19,480 --> 00:10:21,240 Speaker 1: so far you've mentioned Gin and Tonics. 195 00:10:21,679 --> 00:10:24,200 Speaker 2: It just it feels as though it is Christmas. You 196 00:10:24,320 --> 00:10:26,760 Speaker 2: might have a problem. 197 00:10:26,800 --> 00:10:28,560 Speaker 1: Sorry, Adam, over to you for your judgment. 198 00:10:28,640 --> 00:10:31,520 Speaker 3: Well, look, I like Sean, are very concerned about the 199 00:10:31,520 --> 00:10:33,600 Speaker 3: Great Fever Tree Crisis of twenty twenty. 200 00:10:33,600 --> 00:10:36,800 Speaker 2: Fever Tree. That's it. That's it, the fever tree crisis. 201 00:10:37,280 --> 00:10:37,760 Speaker 2: I like it. 202 00:10:38,880 --> 00:10:42,280 Speaker 3: This is the struggle of the people. However, I must 203 00:10:42,360 --> 00:10:45,960 Speaker 3: give this one to Michael. This week GDP figures have 204 00:10:46,080 --> 00:10:49,600 Speaker 3: it the biggest story of the week. Well done, Michael. 205 00:10:49,880 --> 00:10:54,440 Speaker 1: Why because it was so well argued because of the 206 00:10:54,480 --> 00:10:55,720 Speaker 1: final public demand. 207 00:10:55,760 --> 00:10:58,480 Speaker 2: Whatever the hell that is. I don't even remember saying 208 00:10:58,480 --> 00:11:01,040 Speaker 2: those words. It's a stick after that. 209 00:11:02,640 --> 00:11:04,760 Speaker 3: Look, I think we're all feeling it right. 210 00:11:05,160 --> 00:11:11,920 Speaker 4: It's about in bullies, that's right, not just in the 211 00:11:11,960 --> 00:11:15,679 Speaker 4: fever tree aisle, that's right, and every cereal as well 212 00:11:15,760 --> 00:11:18,560 Speaker 4: special k hey, adam, milk adam. 213 00:11:18,880 --> 00:11:22,040 Speaker 1: What do you think of this showdown between business and government? 214 00:11:22,320 --> 00:11:24,960 Speaker 1: Just like those business leaders just throwing down there. 215 00:11:25,800 --> 00:11:26,680 Speaker 2: I don't don't. 216 00:11:27,000 --> 00:11:30,040 Speaker 3: I loved, absolutely love. 217 00:11:30,240 --> 00:11:34,319 Speaker 2: Come on, come on, this is just take the breaks 218 00:11:34,360 --> 00:11:38,360 Speaker 2: off comes, just business doing its normal thing, like the 219 00:11:38,480 --> 00:11:43,360 Speaker 2: unions do there, the government with normal things. I'm not 220 00:11:43,480 --> 00:11:45,720 Speaker 2: arguing against. I'm not saying it's a bad thing, but 221 00:11:45,720 --> 00:11:49,200 Speaker 2: they're just the politics of it happens day in, day out. 222 00:11:49,480 --> 00:11:51,400 Speaker 3: Even when Parliament has stopped, it's still. 223 00:11:51,320 --> 00:11:54,800 Speaker 2: Abolutely Christmas day. I'll be having a crack. Really well, 224 00:11:55,200 --> 00:11:59,000 Speaker 2: let's go into the most remarkable story. Michael can't get first? Yeah, please, 225 00:11:59,120 --> 00:12:00,560 Speaker 2: you're leading one, nill. 226 00:12:00,720 --> 00:12:04,000 Speaker 1: Yeah, try and redeem yourself, Sean. So that's that's nasty. 227 00:12:04,240 --> 00:12:07,720 Speaker 1: You know what, in the spirit of Christmas, Christmas is coming, 228 00:12:08,320 --> 00:12:09,600 Speaker 1: you know what, Sean. 229 00:12:09,760 --> 00:12:14,440 Speaker 2: Just just do your best now, that's not condescendary praise. 230 00:12:14,520 --> 00:12:19,320 Speaker 2: There most remarkable story, one of the stories of the year, 231 00:12:19,920 --> 00:12:24,480 Speaker 2: I would say, certainly this week was a critical point. 232 00:12:24,520 --> 00:12:30,560 Speaker 2: Bitcoin hitting one hundred thousand US dollars a unit that 233 00:12:31,559 --> 00:12:36,040 Speaker 2: is truly remarkable. Let me quote from that August institution, 234 00:12:36,720 --> 00:12:43,480 Speaker 2: the Reserve Bank of Australia. Cryptocurrencies have no legislated or 235 00:12:43,520 --> 00:12:47,200 Speaker 2: intrinsic value. They are simply worth what people are willing 236 00:12:47,280 --> 00:12:51,679 Speaker 2: to pay for them in the market. End quote. Clearly, 237 00:12:51,720 --> 00:12:54,120 Speaker 2: there are people in the market willing to pay one 238 00:12:54,200 --> 00:12:59,480 Speaker 2: hundred thousand US dollars a year for one bitcoin. Now 239 00:12:59,480 --> 00:13:02,040 Speaker 2: to surge this week came after President elect Donald Trump 240 00:13:02,080 --> 00:13:05,720 Speaker 2: nominated a crypto enthusiast, Paul Atkins, to be the next 241 00:13:05,760 --> 00:13:08,960 Speaker 2: chair of the SEC. The SEC syscurry is an exchange commission. 242 00:13:08,960 --> 00:13:11,800 Speaker 2: It's the regulator in the US. The regulator at the 243 00:13:11,840 --> 00:13:15,440 Speaker 2: moment doesn't particularly like cryptos. The Biden administration doesn't particularly 244 00:13:15,480 --> 00:13:19,240 Speaker 2: like cryptos. Well, when Donald Trump gets the gig, they're 245 00:13:19,240 --> 00:13:22,520 Speaker 2: all gonna love cryptos. And that means that bit coins 246 00:13:22,559 --> 00:13:26,720 Speaker 2: up forty percent in the last month, Ethereum forty percent, 247 00:13:27,280 --> 00:13:30,880 Speaker 2: Binance twenty two percent, Sorolana twenty five percent. How Aboutkadano, 248 00:13:31,240 --> 00:13:34,440 Speaker 2: this is a blockchain technology, it's up an two hundred 249 00:13:34,440 --> 00:13:37,760 Speaker 2: and twenty seven percent. Doge Coin, a favorite of Elon Musk, 250 00:13:38,160 --> 00:13:41,000 Speaker 2: up one hundred and seventy hundred and eighty percent. Now, 251 00:13:41,080 --> 00:13:45,319 Speaker 2: keep in mind there are about ten thousand cryptocurrencies out there. 252 00:13:46,600 --> 00:13:52,040 Speaker 2: Many are inactive, but there are still thousands that are active. 253 00:13:52,720 --> 00:13:56,880 Speaker 2: The fact that these currencies, which can I repeat to 254 00:13:56,920 --> 00:14:02,319 Speaker 2: you in the August words of the Reserve Bank, no legislated, 255 00:14:03,040 --> 00:14:06,600 Speaker 2: no intrinsic value. The fact that bitcoin's hitting one hundred 256 00:14:06,640 --> 00:14:12,360 Speaker 2: thousand US dollars remarkable. Adam, Oh no, not Adam, Michael, Adam, 257 00:14:12,640 --> 00:14:14,040 Speaker 2: declare me when I move on. 258 00:14:14,840 --> 00:14:18,040 Speaker 1: There's a little bit kind of preemptive there. You might 259 00:14:18,080 --> 00:14:19,080 Speaker 1: have gone off a little early. 260 00:14:19,240 --> 00:14:21,720 Speaker 3: You got to admit it's pretty good. You got your 261 00:14:21,760 --> 00:14:22,520 Speaker 3: work cut out for you. 262 00:14:22,600 --> 00:14:25,240 Speaker 2: Now, Michael, I look at Michael. Now, yeah, hang on, 263 00:14:25,440 --> 00:14:27,880 Speaker 2: hang on. I'd like to see the me cat business. Now. 264 00:14:28,200 --> 00:14:30,880 Speaker 1: A little reminder for listeners that the judge is supposed 265 00:14:30,920 --> 00:14:32,400 Speaker 1: to bential impartial. 266 00:14:33,040 --> 00:14:36,280 Speaker 2: I'd also like to remind listeners that the judging is 267 00:14:36,360 --> 00:14:37,360 Speaker 2: totally arbitrary. 268 00:14:37,800 --> 00:14:39,840 Speaker 1: You don't need to remind listeners of that sort and 269 00:14:39,880 --> 00:14:43,160 Speaker 1: if they just listen to one episode, they will identify 270 00:14:43,200 --> 00:14:46,280 Speaker 1: that themselves quite quickly. Look, we witness something truly remarkable, 271 00:14:46,360 --> 00:14:48,600 Speaker 1: truly truly truly. 272 00:14:48,400 --> 00:14:49,520 Speaker 2: Remarkable this week. 273 00:14:49,760 --> 00:14:52,160 Speaker 1: Not something that we would have seen coming, like with 274 00:14:52,400 --> 00:14:55,880 Speaker 1: say bitcoin surging. It's been surging on and off all 275 00:14:55,880 --> 00:14:58,400 Speaker 1: you're setting records for most of the year. 276 00:14:58,800 --> 00:15:00,480 Speaker 2: This is a look. 277 00:15:00,760 --> 00:15:04,400 Speaker 1: This week, we saw something happen that came out of 278 00:15:04,440 --> 00:15:05,720 Speaker 1: the blue. 279 00:15:05,800 --> 00:15:09,480 Speaker 2: It shocked the world because it. 280 00:15:09,400 --> 00:15:12,640 Speaker 1: Took place in one of the economic powerhouses of the 281 00:15:12,680 --> 00:15:18,000 Speaker 1: world and of Asia, specifically in South Korea. Right the 282 00:15:18,040 --> 00:15:20,800 Speaker 1: South Korean president yunsuk yol. 283 00:15:21,280 --> 00:15:23,400 Speaker 2: We've had him on the show affair bit, haven't we. 284 00:15:25,360 --> 00:15:29,040 Speaker 1: I will turn off your microphone. I have the power 285 00:15:29,160 --> 00:15:34,240 Speaker 1: to do this Sean if need be. He imposed martial 286 00:15:34,320 --> 00:15:38,120 Speaker 1: law on the country overnight on Tuesday. He did it 287 00:15:38,160 --> 00:15:42,040 Speaker 1: in an unscheduled broadcast, declaring that he needed to purge 288 00:15:42,120 --> 00:15:45,400 Speaker 1: the country of anti state forces. It's basically using the 289 00:15:45,440 --> 00:15:49,240 Speaker 1: threat of North Korea working with the opposition and other groups, 290 00:15:49,800 --> 00:15:53,280 Speaker 1: and said that he'll root out the conspirators, he'll normalize 291 00:15:53,320 --> 00:15:59,840 Speaker 1: the country. Well, well, the people did not stand for that. 292 00:16:00,480 --> 00:16:05,120 Speaker 1: The whole thing lasted what four or five six hours 293 00:16:05,760 --> 00:16:10,080 Speaker 1: before opposition MP's managed to get into parliament passive vote 294 00:16:10,320 --> 00:16:14,960 Speaker 1: rejecting martial law, and the military which had been surrounding 295 00:16:15,320 --> 00:16:19,280 Speaker 1: parliament was withdrawn. If you've seen the pictures there were, 296 00:16:19,360 --> 00:16:24,080 Speaker 1: these are remarkable images and videos of the military and 297 00:16:24,120 --> 00:16:27,720 Speaker 1: the civilians and the politicians trying to get past them, 298 00:16:28,040 --> 00:16:29,960 Speaker 1: and the military didn't even want to be there. They 299 00:16:30,000 --> 00:16:32,680 Speaker 1: basically were saying like almost, I'm sorry, I don't want 300 00:16:32,720 --> 00:16:33,320 Speaker 1: to be doing this. 301 00:16:33,320 --> 00:16:34,960 Speaker 2: Is it just we just have to do it? Do 302 00:16:35,000 --> 00:16:37,160 Speaker 2: you forget? Did they really say that? Did you hear 303 00:16:37,200 --> 00:16:37,800 Speaker 2: them say that? 304 00:16:38,000 --> 00:16:42,600 Speaker 1: Well, I don't speak the language, but I am reliably 305 00:16:42,640 --> 00:16:47,640 Speaker 1: informed based on the commentary that I read. Sean people 306 00:16:47,880 --> 00:16:52,880 Speaker 1: forget this. But South Korea has a brutal past of oppression, 307 00:16:52,920 --> 00:16:56,200 Speaker 1: of coups and violence. It hasn't always been the economic 308 00:16:56,240 --> 00:16:57,400 Speaker 1: powerhouse that it is today. 309 00:16:57,560 --> 00:16:58,200 Speaker 2: It is the home. 310 00:16:58,320 --> 00:17:01,640 Speaker 1: Keep this in mind, Adam, pick up your pen, write 311 00:17:01,760 --> 00:17:05,800 Speaker 1: this down. South Korea is the home of global giants 312 00:17:05,880 --> 00:17:09,920 Speaker 1: like Samsung, like LG, like Kia, like hey Un Day. 313 00:17:10,160 --> 00:17:13,919 Speaker 1: So the fact that this even happened at all is 314 00:17:14,119 --> 00:17:16,960 Speaker 1: just remarkable. It has a major flow on effect to 315 00:17:17,040 --> 00:17:20,679 Speaker 1: global markets, to the countries that trade with South Korea, 316 00:17:20,720 --> 00:17:25,359 Speaker 1: including Australia. Never mind the fact that a deep sleeper, 317 00:17:25,440 --> 00:17:28,760 Speaker 1: let's just call him Adam Lang, if he had gone 318 00:17:28,800 --> 00:17:32,359 Speaker 1: to sleep on Tuesday night, right, he would have woken 319 00:17:32,440 --> 00:17:35,400 Speaker 1: up fresh as a daisy on Wednesday morning without even 320 00:17:35,440 --> 00:17:38,320 Speaker 1: realizing that anything had happened. It all took place, All 321 00:17:38,400 --> 00:17:42,520 Speaker 1: of this turmoil took place within those hours when people 322 00:17:42,680 --> 00:17:45,800 Speaker 1: would normally be sleeping. It is a remarkable and really 323 00:17:45,800 --> 00:17:47,479 Speaker 1: troubling period for South Korea. 324 00:17:47,560 --> 00:17:49,080 Speaker 2: Adam. 325 00:17:49,560 --> 00:17:54,399 Speaker 3: So, look, it's not an easy win, but it is 326 00:17:54,440 --> 00:17:59,440 Speaker 3: a win to Sean the one hundred thousand US dollar 327 00:17:59,520 --> 00:18:05,240 Speaker 3: mark on and I really am perplexed by cryptos And look, 328 00:18:05,280 --> 00:18:07,800 Speaker 3: it's a spectacular and remarkable story on South Korea. Michael, 329 00:18:07,800 --> 00:18:11,040 Speaker 3: well done. But one hundred thousand bucks for something that's 330 00:18:11,200 --> 00:18:15,080 Speaker 3: not worth anything, it's really incredible. So well, don't John, 331 00:18:15,080 --> 00:18:15,360 Speaker 3: you win. 332 00:18:16,600 --> 00:18:21,720 Speaker 2: I'm I'm just slightly peeved that it wasn't an easy win. 333 00:18:22,240 --> 00:18:26,200 Speaker 1: Oh no, we are about to see another legend enough 334 00:18:26,280 --> 00:18:29,840 Speaker 1: to win Sean Aylmer, dummy spith. These things are happening 335 00:18:29,840 --> 00:18:33,359 Speaker 1: more and more regularly. Let's take a quick break. We 336 00:18:33,440 --> 00:18:36,119 Speaker 1: will come back in a moment and find a sleeper 337 00:18:36,400 --> 00:18:46,360 Speaker 1: story of the week. All right, Sean, we are looking 338 00:18:46,359 --> 00:18:47,720 Speaker 1: for a sleeper story of the week. 339 00:18:47,760 --> 00:18:47,879 Speaker 2: Now. 340 00:18:47,880 --> 00:18:49,920 Speaker 1: A sleeper story is, of course, one that is flying 341 00:18:50,000 --> 00:18:52,919 Speaker 1: under the radar a little bit, or or one that 342 00:18:53,000 --> 00:18:55,200 Speaker 1: is going to become a bigger story further down the track. 343 00:18:55,200 --> 00:18:58,760 Speaker 1: And therefore the fuse was lit on that story in 344 00:18:58,840 --> 00:19:02,240 Speaker 1: the past week. So I'm going to go first on this. 345 00:19:03,840 --> 00:19:07,159 Speaker 2: Sorry, sleepy story, just refuse has been the one, A 346 00:19:07,200 --> 00:19:09,560 Speaker 2: low profile story, one we haven't heard. Okay, go on, 347 00:19:11,119 --> 00:19:12,600 Speaker 2: did you really need to point that out? 348 00:19:12,600 --> 00:19:16,760 Speaker 1: Because you there feels that was very deliberate new listeners. 349 00:19:16,800 --> 00:19:18,800 Speaker 2: It's important that they know this is about a story 350 00:19:18,800 --> 00:19:19,480 Speaker 2: that you've never heard of. 351 00:19:19,640 --> 00:19:23,520 Speaker 1: Go on, Okay, might as well exactly a low profile story, 352 00:19:24,160 --> 00:19:27,800 Speaker 1: but but it is one that we are going to 353 00:19:27,800 --> 00:19:32,720 Speaker 1: be hearing about for a long, long, long time to come. 354 00:19:32,960 --> 00:19:37,840 Speaker 1: The fuse, i can assure you, has been definitively lit 355 00:19:38,160 --> 00:19:44,560 Speaker 1: this week. The outgoing US President Joe Biden has pardoned 356 00:19:44,560 --> 00:19:48,240 Speaker 1: his don't don't make that face, Adam. 357 00:19:49,080 --> 00:19:52,600 Speaker 2: Tell me there's something there's news here I haven't heard before. 358 00:19:53,320 --> 00:19:57,199 Speaker 1: Joe Biden has pardoned his son Hunter for federal fellon 359 00:19:57,480 --> 00:19:58,800 Speaker 1: gun and wait. 360 00:19:58,720 --> 00:20:00,879 Speaker 2: What's that is not the sleeper element. 361 00:20:01,080 --> 00:20:05,119 Speaker 1: Just let me give you the background, Okay, jeepus, just 362 00:20:05,359 --> 00:20:12,080 Speaker 1: calm your farm. Pardon his son Hunter federal felony, gun 363 00:20:12,080 --> 00:20:13,119 Speaker 1: and tax convictions. 364 00:20:13,560 --> 00:20:14,119 Speaker 2: It was. 365 00:20:14,600 --> 00:20:18,760 Speaker 1: It was a controversial decision because he'd previously promised not 366 00:20:19,000 --> 00:20:22,080 Speaker 1: to use his powers to benefit his family. So as 367 00:20:22,320 --> 00:20:26,320 Speaker 1: further background, Hunter Biden was convicted in two cases. It 368 00:20:26,400 --> 00:20:28,800 Speaker 1: was one in California one in Delaware. He was waiting 369 00:20:29,480 --> 00:20:32,000 Speaker 1: on what his punishment was going to be. The pardon 370 00:20:32,040 --> 00:20:33,280 Speaker 1: means he's going to avoid jail. 371 00:20:33,320 --> 00:20:33,520 Speaker 2: Now. 372 00:20:33,760 --> 00:20:36,719 Speaker 1: The thing is, the thing is here, Hunter Biden has 373 00:20:36,760 --> 00:20:39,399 Speaker 1: been used against Joe Biden throughout his whole presidency. He 374 00:20:39,440 --> 00:20:42,159 Speaker 1: had a drug addiction and associated problems there. The reason 375 00:20:42,160 --> 00:20:44,560 Speaker 1: why this is so controversial, and the reason why it 376 00:20:44,680 --> 00:20:47,320 Speaker 1: is a sleeper story that we will be hearing a 377 00:20:47,359 --> 00:20:51,720 Speaker 1: lot about in various contexts into the future, is that 378 00:20:51,880 --> 00:20:56,919 Speaker 1: Joe Biden said Hunter Biden's charges were political, and Hunter 379 00:20:56,960 --> 00:21:00,280 Speaker 1: Biden was singled out. That's why he was pardoned. Now 380 00:21:00,320 --> 00:21:02,399 Speaker 1: does this sound familiar to anyone else? It is the 381 00:21:02,440 --> 00:21:05,520 Speaker 1: same argument that Donald Trump makes alleging that the judicial 382 00:21:05,560 --> 00:21:07,919 Speaker 1: system and the Department of Justice in the US is 383 00:21:07,960 --> 00:21:08,879 Speaker 1: biased against him. 384 00:21:08,880 --> 00:21:12,320 Speaker 2: Now, point of order, judge point of order. So we 385 00:21:12,359 --> 00:21:15,280 Speaker 2: have heard a lot over the last few minutes about 386 00:21:15,280 --> 00:21:19,680 Speaker 2: how this week lit the fuse to something totally new. Now, 387 00:21:19,680 --> 00:21:22,919 Speaker 2: in the last thirty seconds, I think Michael said, so, 388 00:21:23,200 --> 00:21:25,560 Speaker 2: does this sound familiar? Does this sound like Donald Trump? 389 00:21:26,320 --> 00:21:28,600 Speaker 2: Just pointing that out on you go. Michael's leading with 390 00:21:28,640 --> 00:21:31,880 Speaker 2: his chin there. I don't care what either of you say. 391 00:21:32,400 --> 00:21:33,920 Speaker 2: You know, I don't even care if I win. 392 00:21:35,800 --> 00:21:36,640 Speaker 3: Shaping up well. 393 00:21:36,920 --> 00:21:40,080 Speaker 1: Donald Trump is no stranger, of course to pardons. 394 00:21:40,160 --> 00:21:40,240 Speaker 3: Right. 395 00:21:40,320 --> 00:21:42,680 Speaker 1: At the end of his last presidency, he pardoned a 396 00:21:42,720 --> 00:21:45,119 Speaker 1: whole lot of very colorful characters. There was a bit 397 00:21:45,160 --> 00:21:48,320 Speaker 1: of a pardoning free for all things like kind of 398 00:21:48,359 --> 00:21:50,640 Speaker 1: campaign finance crimes, all that kind of thing. I don't 399 00:21:50,760 --> 00:21:53,000 Speaker 1: envy Joe Biden's position. It would be awful seeing his 400 00:21:53,119 --> 00:21:56,960 Speaker 1: son go through this. But by saying it was political right, 401 00:21:57,080 --> 00:21:59,600 Speaker 1: that's the key here, and using his powers to pardon 402 00:21:59,640 --> 00:22:01,760 Speaker 1: this is done. Joe Biden and the Democrats have lost 403 00:22:01,920 --> 00:22:04,680 Speaker 1: the moral high ground on this issue, and you can 404 00:22:04,720 --> 00:22:07,520 Speaker 1: bet your bottom dollar that Donald Trump will not let 405 00:22:07,600 --> 00:22:11,399 Speaker 1: them forget it. That's why this is the week in 406 00:22:11,440 --> 00:22:15,520 Speaker 1: which that fuse has been lit. Because of the use 407 00:22:15,680 --> 00:22:21,120 Speaker 1: of that term that the charges were political, therefore justifying 408 00:22:21,280 --> 00:22:24,200 Speaker 1: a pardon. There you go done. That's it all done. 409 00:22:24,400 --> 00:22:32,320 Speaker 1: It's it's it's probably probably probably out with your words. 410 00:22:32,560 --> 00:22:33,280 Speaker 2: No, I can't. 411 00:22:33,440 --> 00:22:35,640 Speaker 1: I can't just I'm not. I'm not going to give in. 412 00:22:35,880 --> 00:22:38,600 Speaker 1: You know what, I've made this mistake before where I 413 00:22:38,720 --> 00:22:40,840 Speaker 1: just capitulate and just go no, no, no, Sean to it. 414 00:22:41,000 --> 00:22:43,440 Speaker 1: I deserve to win. What's your story, Sean. 415 00:22:43,760 --> 00:22:45,199 Speaker 2: Sure, we're at the top of the market. We know 416 00:22:45,280 --> 00:22:47,160 Speaker 2: all about that. The S and PI SEX two hundred 417 00:22:47,240 --> 00:22:48,960 Speaker 2: hit a new record high this week. You know the 418 00:22:49,000 --> 00:22:51,479 Speaker 2: story come off bank doing really well? Wise Teak Global, 419 00:22:51,520 --> 00:22:57,080 Speaker 2: Goodman Group, et cetera, et cetera. What's really interesting this week, though, 420 00:22:57,520 --> 00:23:01,280 Speaker 2: The sleeper part is if you were paying attention, you 421 00:23:01,320 --> 00:23:04,760 Speaker 2: wouldn't have realized that a couple of owners of really 422 00:23:04,760 --> 00:23:09,000 Speaker 2: successful companies are selling down their stock. Do they know 423 00:23:09,160 --> 00:23:12,480 Speaker 2: something we done? Do they think the market's at the peak? 424 00:23:13,160 --> 00:23:15,560 Speaker 2: Do they think it's time to get out now? The 425 00:23:15,600 --> 00:23:18,320 Speaker 2: founder of Buying Now Pay Later group zip Co guy 426 00:23:18,320 --> 00:23:21,520 Speaker 2: called Larry Diamond. He resigned. He cashed in one hundred 427 00:23:21,680 --> 00:23:25,080 Speaker 2: million dollars of shares. He's going to found his own 428 00:23:25,400 --> 00:23:28,080 Speaker 2: home office. He started the business in twenty thirteen. He 429 00:23:28,119 --> 00:23:30,439 Speaker 2: floated in twenty sixteen. It got to his high ast 430 00:23:30,440 --> 00:23:32,480 Speaker 2: twelve bucks a share in the COVID days fell to 431 00:23:32,520 --> 00:23:35,240 Speaker 2: as lowest twenty six cents late last year, up seven 432 00:23:35,359 --> 00:23:39,639 Speaker 2: hundred percent over the last twelve months. He's just gone, eh, 433 00:23:39,680 --> 00:23:45,120 Speaker 2: I'm out here. Promedicus incredible company run by a couple 434 00:23:45,160 --> 00:23:47,119 Speaker 2: of guys. Were founded by a couple of guys, Sam 435 00:23:47,160 --> 00:23:50,840 Speaker 2: Hoopert and Anthony Hall, who still run it. They sold 436 00:23:51,040 --> 00:23:54,119 Speaker 2: two million shares on Tuesday night, worth about half a 437 00:23:54,359 --> 00:23:57,679 Speaker 2: billion dollars. It spooked the market just to touch that. 438 00:23:57,680 --> 00:23:58,879 Speaker 2: Had to come out the next day and say, hey, 439 00:23:58,880 --> 00:24:02,800 Speaker 2: we're not selling anymore now. This company, it's radiology imaging, 440 00:24:02,880 --> 00:24:06,360 Speaker 2: makes X rays and the transfer of X rays and 441 00:24:06,760 --> 00:24:10,800 Speaker 2: the diagnosis from X rays much easier. I reckon. It's 442 00:24:10,840 --> 00:24:13,280 Speaker 2: the best large cap of the last year. It came 443 00:24:13,320 --> 00:24:15,399 Speaker 2: into the top one hundred in March, now top twenty 444 00:24:15,400 --> 00:24:17,760 Speaker 2: five stock up two hundred percent of the past year. 445 00:24:18,600 --> 00:24:22,080 Speaker 2: It's only got two big shareholders, the two founders, Hoopert 446 00:24:22,119 --> 00:24:24,960 Speaker 2: and Hall. They own about twelve billion dollars worth of stock. 447 00:24:25,000 --> 00:24:29,840 Speaker 2: But they've started selling. So you just wonder when founders 448 00:24:29,840 --> 00:24:34,880 Speaker 2: start selling. Do they know something we don't know? That's 449 00:24:34,880 --> 00:24:37,320 Speaker 2: why I think it's a cracking sleeper story. We have 450 00:24:37,359 --> 00:24:39,720 Speaker 2: the market at a high, but people in the middle 451 00:24:39,720 --> 00:24:41,720 Speaker 2: of it, they're just starting to sell down. 452 00:24:42,040 --> 00:24:44,520 Speaker 1: And obviously we're not investing podcast and. 453 00:24:44,880 --> 00:24:48,080 Speaker 2: Absolutely not do not take any investment advice from us whatsoever, 454 00:24:48,080 --> 00:24:50,760 Speaker 2: because we don't do it for profession. Go and find 455 00:24:50,760 --> 00:24:54,280 Speaker 2: a financial advisor. Yeah, well said Adam. 456 00:24:54,760 --> 00:24:55,960 Speaker 1: What do you think bro. 457 00:24:57,520 --> 00:24:59,800 Speaker 2: Broue Sean Win? 458 00:25:00,880 --> 00:25:05,600 Speaker 3: The founders selling down is absolutely a sleeper story. 459 00:25:05,800 --> 00:25:08,280 Speaker 2: And from a man who knows sleep. 460 00:25:10,760 --> 00:25:16,400 Speaker 3: Very good Yes for someone for ridar with sleep zipc Promedicus. 461 00:25:16,560 --> 00:25:19,000 Speaker 3: People selling out and look good on them. They've created 462 00:25:20,359 --> 00:25:21,359 Speaker 3: wealth for themselves. 463 00:25:21,480 --> 00:25:24,080 Speaker 2: Good on them. I'm so well played, you know. 464 00:25:24,119 --> 00:25:25,600 Speaker 3: I think that's a great sleeper story. 465 00:25:26,840 --> 00:25:28,600 Speaker 2: Two one to one. 466 00:25:29,000 --> 00:25:32,119 Speaker 1: Normally Adam's judgments are a lot more than both. 467 00:25:32,480 --> 00:25:35,639 Speaker 2: They're very short today. Well, when you when you're not 468 00:25:35,680 --> 00:25:37,400 Speaker 2: adding much did you. 469 00:25:37,280 --> 00:25:39,080 Speaker 1: Just say when I'm not adding much? Short? 470 00:25:39,480 --> 00:25:42,320 Speaker 2: So, Michael, let's move on to our favorite story of 471 00:25:42,320 --> 00:25:44,399 Speaker 2: the week. You go for it, just there to go 472 00:25:44,480 --> 00:25:48,199 Speaker 2: for please. It's always fortunate enough this week to be 473 00:25:48,240 --> 00:25:54,560 Speaker 2: invited to the launch of Future Generation Women Now Future 474 00:25:54,640 --> 00:25:55,560 Speaker 2: is our invite. 475 00:25:55,800 --> 00:25:57,800 Speaker 1: Yeah, I just love how how he opens with that. 476 00:25:57,880 --> 00:25:59,760 Speaker 1: It's just more just just rub it in that. Hey, 477 00:26:00,200 --> 00:26:01,360 Speaker 1: I was invited a little. 478 00:26:01,160 --> 00:26:06,640 Speaker 2: Bit of salt and you't. Yeah. Sorry, go on, God, 479 00:26:06,640 --> 00:26:10,120 Speaker 2: it's difficult putting up with you two. Future Gen Future 480 00:26:10,240 --> 00:26:12,560 Speaker 2: is a fantastic organization. It's an investment House's got about 481 00:26:12,560 --> 00:26:15,600 Speaker 2: one hundred million dollars under management. It raises money for charities. 482 00:26:15,640 --> 00:26:19,160 Speaker 2: What it does investors put their money into it. They 483 00:26:19,200 --> 00:26:24,400 Speaker 2: then get so Future Generation run by Jeff Wilson who 484 00:26:24,400 --> 00:26:27,520 Speaker 2: from Wilson Asset Management, Caroline Gurney. What they do is 485 00:26:27,520 --> 00:26:29,639 Speaker 2: they take them maybe they find fund managers to pro 486 00:26:29,800 --> 00:26:32,600 Speaker 2: bono invest that money. The fees that they would normally 487 00:26:32,720 --> 00:26:36,560 Speaker 2: charge goes to charities. As a result, about ninety million 488 00:26:36,600 --> 00:26:39,160 Speaker 2: dollars has gone to charities over the last ten years 489 00:26:39,200 --> 00:26:43,919 Speaker 2: from Future Gen. It is fantastic organizations. They've created it. 490 00:26:44,440 --> 00:26:48,960 Speaker 2: Michael beat this story. Judge intervened. We like it. They've 491 00:26:49,000 --> 00:26:52,720 Speaker 2: got a new fund, Future Generation Women. It'll be an 492 00:26:52,800 --> 00:26:55,840 Speaker 2: unlisted trust part of the Future Gen group. All the 493 00:26:55,920 --> 00:27:01,160 Speaker 2: investing in this fund will be by women fund managers. 494 00:27:01,800 --> 00:27:05,280 Speaker 2: It's the idea is that it actually helps drive strong 495 00:27:05,600 --> 00:27:10,000 Speaker 2: gender equity practices. There's no performance fees, no management fees. 496 00:27:10,240 --> 00:27:13,240 Speaker 2: The goal is to provide strong returns. One percent of 497 00:27:13,280 --> 00:27:18,959 Speaker 2: assets each year will go to nonprofits, particularly nonprofits that 498 00:27:19,080 --> 00:27:23,720 Speaker 2: help economic equality or inequality and opportunity for women and 499 00:27:23,760 --> 00:27:29,119 Speaker 2: their children in Australia. Now, the Mindaru Foundation Andrew Nikola 500 00:27:29,160 --> 00:27:32,240 Speaker 2: Forrest Foundation has committed one hundred million dollars to it 501 00:27:32,280 --> 00:27:35,280 Speaker 2: to kick start things off. Now, remember this is an investment, 502 00:27:35,480 --> 00:27:39,040 Speaker 2: a one hundred million dollar investment which they're giving to 503 00:27:39,200 --> 00:27:42,600 Speaker 2: future Gen women to invest. They still own the money, 504 00:27:42,640 --> 00:27:44,879 Speaker 2: they get the benefit of the returns, and the returns 505 00:27:44,920 --> 00:27:47,840 Speaker 2: from Future Gen have actually outdone the market over the 506 00:27:47,920 --> 00:27:51,040 Speaker 2: last ten years. The fact that this fund is specifically 507 00:27:51,560 --> 00:27:55,320 Speaker 2: managed by women who in terms of acomics studies, women 508 00:27:55,400 --> 00:27:59,600 Speaker 2: manage better than men, and is raising money for charities 509 00:27:59,640 --> 00:28:03,560 Speaker 2: to help women and their children just a cracking idea, 510 00:28:03,960 --> 00:28:07,399 Speaker 2: I think. Jeff Wilson, Caroline Gurney, congratulations, it really is 511 00:28:07,440 --> 00:28:10,840 Speaker 2: something that you know, we in such a wealthy country 512 00:28:10,920 --> 00:28:13,680 Speaker 2: should be more philanthropic like the US is, and this 513 00:28:13,760 --> 00:28:16,080 Speaker 2: is the way of doing it, and I just cracking story. 514 00:28:16,960 --> 00:28:21,280 Speaker 2: Michael Thompson, No, but do you beat that that's a 515 00:28:21,720 --> 00:28:23,280 Speaker 2: that is a really good story, Sean. 516 00:28:24,600 --> 00:28:28,400 Speaker 1: Adam's going to criticize my story. I just know it. 517 00:28:27,880 --> 00:28:30,920 Speaker 1: I feel it's in my bones. It's going to say 518 00:28:31,000 --> 00:28:35,520 Speaker 1: that's not news. But I don't care, Adam, I don't care. 519 00:28:36,600 --> 00:28:41,960 Speaker 1: This is big news for shoppers. It is big news 520 00:28:41,960 --> 00:28:44,560 Speaker 1: in the world of retail, and it is a trend, 521 00:28:44,920 --> 00:28:49,080 Speaker 1: and it is a revelation, revelation. We might be in 522 00:28:49,120 --> 00:28:51,600 Speaker 1: the middle of a cost of living crisis, but customers 523 00:28:51,640 --> 00:28:56,120 Speaker 1: don't care so much about price. What they don't they 524 00:28:56,200 --> 00:29:04,880 Speaker 1: care about what, They care about service. They care about delivery. 525 00:29:05,920 --> 00:29:12,560 Speaker 1: Right major US retailers such as Amazon and Walmart and Target, 526 00:29:13,200 --> 00:29:17,280 Speaker 1: they have realized this and they have gone from kind 527 00:29:17,280 --> 00:29:20,680 Speaker 1: of two day delivery, then one day delivery and same 528 00:29:20,760 --> 00:29:23,880 Speaker 1: day delivery. They'll often charge for it, obviously because it's 529 00:29:23,880 --> 00:29:29,440 Speaker 1: an expensive process getting things out so quickly, and Amazon found, surprise, surprise, 530 00:29:30,240 --> 00:29:36,760 Speaker 1: that speedy deliveries make customers both loyal and more willing 531 00:29:36,960 --> 00:29:41,959 Speaker 1: to spend money. This is a trend that is emerging. 532 00:29:42,080 --> 00:29:44,880 Speaker 1: It is a realization of revelation out of the US, 533 00:29:44,960 --> 00:29:48,800 Speaker 1: and it is making its way slowly here. Walmart's doing 534 00:29:48,840 --> 00:29:51,920 Speaker 1: delivery in as little as half an hour. That is 535 00:29:51,960 --> 00:29:55,760 Speaker 1: something quite extraordinary because it is so close geographically to 536 00:29:55,840 --> 00:29:59,200 Speaker 1: a lot of people within the US. Target is nearly 537 00:29:59,200 --> 00:30:02,560 Speaker 1: a day faster than it was a year ago. The 538 00:30:02,640 --> 00:30:06,880 Speaker 1: revelation right deliver fast customers keep coming back a lesson 539 00:30:06,960 --> 00:30:09,880 Speaker 1: for Australian retailers, and a lesson in particular if I 540 00:30:09,920 --> 00:30:13,560 Speaker 1: may to a to one particular retailer in Australia might 541 00:30:13,600 --> 00:30:17,280 Speaker 1: be one of the large grocery chains in your neighborhood. 542 00:30:17,520 --> 00:30:20,760 Speaker 2: That yeah, that one day this week it was shell 543 00:30:20,880 --> 00:30:23,840 Speaker 2: stocked or not that shells stocked. 544 00:30:24,400 --> 00:30:27,440 Speaker 1: The shells were stocked on this particular one. So it 545 00:30:27,480 --> 00:30:31,120 Speaker 1: could rhyme with I don't know, moles or balls or so, 546 00:30:31,200 --> 00:30:33,400 Speaker 1: I don't know. I'm not very good with rhyming words. 547 00:30:33,680 --> 00:30:36,880 Speaker 1: Yeah balls, there we go anyway, anyway, So we paid 548 00:30:36,920 --> 00:30:38,920 Speaker 1: for these super fast, like the fast delivery, so it 549 00:30:38,960 --> 00:30:39,840 Speaker 1: gets there within. 550 00:30:40,080 --> 00:30:41,920 Speaker 2: Hold on, no no no, no, hard to step back. 551 00:30:42,040 --> 00:30:47,200 Speaker 2: So you do home delivery from your supermarket? Yes? Do you? Adam? What? 552 00:30:47,680 --> 00:30:50,240 Speaker 3: Oh ah? I want to choose? 553 00:30:50,640 --> 00:30:54,080 Speaker 2: And are so so millennial. 554 00:30:53,840 --> 00:30:57,200 Speaker 1: Here, ladies and gentlemen. Is the greatest demonstration of the 555 00:30:57,240 --> 00:31:01,840 Speaker 1: generation gap that you will ever see withal so, so right, 556 00:31:01,960 --> 00:31:03,920 Speaker 1: we paid for the the like the fast delivery, so 557 00:31:03,920 --> 00:31:06,560 Speaker 1: it gets there within pretty much an hour, okay from 558 00:31:06,600 --> 00:31:07,120 Speaker 1: the time that you. 559 00:31:07,240 --> 00:31:09,920 Speaker 3: Order it, and so premium involved for that. 560 00:31:10,160 --> 00:31:13,440 Speaker 1: Well not if you are his savings hackn Not if 561 00:31:13,480 --> 00:31:15,600 Speaker 1: you are like members of the various kind of loyalty 562 00:31:15,640 --> 00:31:18,040 Speaker 1: things and you get like the annual kind of subscriptions, 563 00:31:18,040 --> 00:31:20,000 Speaker 1: you actually get kind of free delivery and things, and 564 00:31:20,080 --> 00:31:23,000 Speaker 1: you get free express delivery, which is amazing. 565 00:31:23,160 --> 00:31:25,000 Speaker 2: Right, but but wait for this. 566 00:31:25,320 --> 00:31:30,320 Speaker 1: Okay, So the groceries arrive normal practices that they put 567 00:31:30,320 --> 00:31:32,440 Speaker 1: them at the door, right, take a photo of it, 568 00:31:32,680 --> 00:31:35,600 Speaker 1: knock on the door, and away you go. Okay, great, 569 00:31:36,360 --> 00:31:41,920 Speaker 1: this particular delivery driver, Okay, middle of the day, mid day, 570 00:31:43,080 --> 00:31:46,480 Speaker 1: burning hot sun, leaves all of the groceries at the 571 00:31:46,560 --> 00:31:49,680 Speaker 1: end of the driveway, including all of the frozen goods. 572 00:31:50,200 --> 00:31:52,480 Speaker 3: Just watching from the window, Michael. 573 00:31:52,520 --> 00:31:55,760 Speaker 1: It just so happened to walk past the window, see 574 00:31:55,840 --> 00:31:56,600 Speaker 1: him unloading. 575 00:31:56,960 --> 00:31:57,520 Speaker 2: Run out. 576 00:31:58,400 --> 00:31:59,840 Speaker 3: What do you save my bananas? 577 00:32:00,040 --> 00:32:02,560 Speaker 2: I said, what are you doing? And you know what 578 00:32:02,640 --> 00:32:05,840 Speaker 2: he did? He drove off with half the bag still 579 00:32:05,840 --> 00:32:11,360 Speaker 2: in his boot, really run away. Not that this show 580 00:32:11,520 --> 00:32:14,280 Speaker 2: is about personal gripes, so Michael tends to go there 581 00:32:14,360 --> 00:32:15,640 Speaker 2: quite regularly. 582 00:32:16,000 --> 00:32:18,760 Speaker 1: But isn't that extraordinary? So anyway you can imagine, you 583 00:32:18,880 --> 00:32:21,800 Speaker 1: can imagine that a complaint was made. 584 00:32:22,400 --> 00:32:25,720 Speaker 2: I couldnae raight onto the phone, and you probably you 585 00:32:25,800 --> 00:32:29,120 Speaker 2: probably drove to the supermarket, spending all that time doing 586 00:32:29,120 --> 00:32:31,880 Speaker 2: the complaining, having had to actually make the trip anyway, 587 00:32:34,960 --> 00:32:36,080 Speaker 2: you poor sweet boomer. 588 00:32:36,440 --> 00:32:37,880 Speaker 1: No complaints are made online. 589 00:32:38,160 --> 00:32:40,680 Speaker 2: Hey, hey, I take that as an insult. I am 590 00:32:40,720 --> 00:32:45,760 Speaker 2: not a boomer. That is like the ultimate insult. I'm 591 00:32:45,800 --> 00:32:47,120 Speaker 2: ex yep. 592 00:32:47,240 --> 00:32:50,719 Speaker 1: I know, I know, I really wanted to do burrow 593 00:32:50,840 --> 00:32:54,800 Speaker 1: in under the skin there anyway, Sure you wrap this done? 594 00:32:55,040 --> 00:32:56,600 Speaker 1: I just had to get that off my chest. I'm 595 00:32:56,640 --> 00:32:58,200 Speaker 1: sorry I took a little bit of extra time, but 596 00:32:58,240 --> 00:32:58,720 Speaker 1: I feel bad. 597 00:32:58,920 --> 00:33:01,360 Speaker 3: Yeah, something of an adult. It's future Jen. What a 598 00:33:01,400 --> 00:33:06,600 Speaker 3: great story and delivery customer service? Who would have thunker 599 00:33:07,560 --> 00:33:12,480 Speaker 3: customer service counts? It's a draw on that one even 600 00:33:12,720 --> 00:33:14,560 Speaker 3: can't split them both great stories. 601 00:33:16,320 --> 00:33:18,000 Speaker 2: So I know you have your hands in the air 602 00:33:18,040 --> 00:33:20,040 Speaker 2: because you are surprised you've got a point or a 603 00:33:20,080 --> 00:33:22,160 Speaker 2: half point of that. But that does mean two and 604 00:33:22,160 --> 00:33:23,200 Speaker 2: a half to one and a half. 605 00:33:23,240 --> 00:33:29,000 Speaker 3: It does Sean's one on the story count. Okay, in emphatic. 606 00:33:28,440 --> 00:33:31,800 Speaker 2: Way, we don't need to do a points count. 607 00:33:31,680 --> 00:33:34,320 Speaker 1: Yes he does, and for new listeners, as Adam is 608 00:33:34,320 --> 00:33:36,600 Speaker 1: going through, he is giving each category a score out 609 00:33:36,640 --> 00:33:38,440 Speaker 1: of like twenty five or something, and then he adds 610 00:33:38,440 --> 00:33:39,840 Speaker 1: it all up. And so there is a chance that 611 00:33:39,880 --> 00:33:41,600 Speaker 1: while Sewan has won two and a half to one 612 00:33:41,600 --> 00:33:43,640 Speaker 1: and a half overall, that I could have actually snatched 613 00:33:43,640 --> 00:33:44,680 Speaker 1: a points victory here. 614 00:33:44,800 --> 00:33:47,880 Speaker 3: You could have, but you didn't. It's ninety two to 615 00:33:47,960 --> 00:33:48,480 Speaker 3: ninety one. 616 00:33:48,640 --> 00:33:52,360 Speaker 1: Very that is so much closer than I was expecting 617 00:33:52,480 --> 00:33:54,720 Speaker 1: and honestly closer than I deserved. 618 00:33:55,080 --> 00:33:59,760 Speaker 2: What listeners need to realize a fantastic story for Adam 619 00:33:59,840 --> 00:34:03,560 Speaker 2: is like twenty four. A really really bad, disastrous story 620 00:34:03,640 --> 00:34:04,960 Speaker 2: is like twenty two and a half. 621 00:34:05,120 --> 00:34:07,480 Speaker 3: Yeah, twenty one maybe at the bottom. 622 00:34:07,720 --> 00:34:11,520 Speaker 1: Good good show, good effort, Thank you for arriving, Adam, 623 00:34:11,800 --> 00:34:12,800 Speaker 1: high quality battle. 624 00:34:12,880 --> 00:34:14,400 Speaker 3: Thank you both, Thank. 625 00:34:14,239 --> 00:34:16,080 Speaker 2: You, Sean, Thank you Adam, Thank you Michael. 626 00:34:16,480 --> 00:34:18,880 Speaker 1: Make sure you're following the podcast and please join us 627 00:34:18,880 --> 00:34:22,280 Speaker 1: online on LinkedIn, Instagram, TikTok, Facebook and xts. O'm Michael Thompson. 628 00:34:22,280 --> 00:34:23,280 Speaker 1: And that was fear and greed. 629 00:34:23,640 --> 00:34:24,400 Speaker 2: Have a great weekend.