1 00:00:06,320 --> 00:00:09,840 Speaker 1: The share market has its best day in nearly six weeks, 2 00:00:09,880 --> 00:00:13,200 Speaker 1: as the banks and miners lead the boss higher. Quantas's 3 00:00:13,280 --> 00:00:16,840 Speaker 1: rankings among global airlines falls to its lowest level in 4 00:00:16,880 --> 00:00:20,639 Speaker 1: a decade, and boom time for avocado growers. Welcome to 5 00:00:20,680 --> 00:00:23,040 Speaker 1: Fear and Greed, daily business news for people who make 6 00:00:23,040 --> 00:00:25,680 Speaker 1: their own decisions. It is Wednesday, the twenty sixth of 7 00:00:25,760 --> 00:00:28,800 Speaker 1: June twenty twenty four. I'm Michael Thompson and good morning, 8 00:00:28,840 --> 00:00:29,560 Speaker 1: Sean Aylmer. 9 00:00:29,880 --> 00:00:33,760 Speaker 2: Good morning, Michael. Today's show an eclectic mix of stories, 10 00:00:33,760 --> 00:00:35,920 Speaker 2: something for everyone. I reckon, Oh well, we go. 11 00:00:35,840 --> 00:00:39,600 Speaker 1: From the share market to airlines, to avocados and a 12 00:00:39,600 --> 00:00:41,479 Speaker 1: bunch of things in between. It is going to be 13 00:00:41,520 --> 00:00:44,000 Speaker 1: a ripper. Let's get into the big story, the main 14 00:00:44,080 --> 00:00:47,519 Speaker 1: story this morning, Seawan. The ASX two hundred had its 15 00:00:47,560 --> 00:00:50,320 Speaker 1: best day in almost six weeks, with big jumps in 16 00:00:50,520 --> 00:00:54,760 Speaker 1: energy stocks, the big miners, property groups, and financials, including 17 00:00:54,760 --> 00:00:55,400 Speaker 1: the big banks. 18 00:00:55,760 --> 00:00:59,440 Speaker 2: What was particularly notable yesterday was the tech stocks did 19 00:00:59,480 --> 00:01:01,880 Speaker 2: worst of all. For most of this year, it's been 20 00:01:01,920 --> 00:01:04,640 Speaker 2: the tech stocks that have held the market together on 21 00:01:04,680 --> 00:01:08,240 Speaker 2: the back of the artificial intelligence and cloud computing boom. 22 00:01:08,720 --> 00:01:11,400 Speaker 2: By the close yesterday, the s ANDPA six two hundred 23 00:01:11,640 --> 00:01:14,760 Speaker 2: was one point four percent higher to eight hundred and 24 00:01:14,800 --> 00:01:18,119 Speaker 2: thirty nine points. Some big stocks did really well yesterday. 25 00:01:18,319 --> 00:01:20,559 Speaker 2: Some of these haven't done so well this year. James 26 00:01:20,600 --> 00:01:23,440 Speaker 2: Hardy is a good example. It jumped five percent. Now 27 00:01:23,480 --> 00:01:26,400 Speaker 2: for the year, it's down about twelve percent, but its 28 00:01:26,400 --> 00:01:27,959 Speaker 2: fortune is very much right on the back of the 29 00:01:27,959 --> 00:01:30,520 Speaker 2: outlook for the US property market that's improving. Good for 30 00:01:30,600 --> 00:01:33,640 Speaker 2: James Hardy. Woodside benefited from the recent rise in the 31 00:01:33,720 --> 00:01:36,840 Speaker 2: oil price and it closed nearly four percent higher. Fellow 32 00:01:36,840 --> 00:01:39,400 Speaker 2: oil and gas giant Santos finished up nearly two percent, 33 00:01:39,800 --> 00:01:44,039 Speaker 2: riding that same wave. Mining giants BHP and Rio Tinta 34 00:01:44,360 --> 00:01:47,680 Speaker 2: were also up two percent. But again, the big banks 35 00:01:47,760 --> 00:01:50,680 Speaker 2: really buoyed the market. When for of the top ten 36 00:01:50,720 --> 00:01:53,000 Speaker 2: stocks are the four big banks. If the banks do well, 37 00:01:53,000 --> 00:01:56,400 Speaker 2: the market does well. Commonwealth Bank yesterday hit another all 38 00:01:56,440 --> 00:01:58,320 Speaker 2: time high of one hundred and twenty eight dollars and 39 00:01:58,360 --> 00:02:01,279 Speaker 2: sixty eight cents to share. It's now up thirteen percent 40 00:02:01,320 --> 00:02:04,440 Speaker 2: this year. National Australia Bank hit a new nine year 41 00:02:04,480 --> 00:02:07,280 Speaker 2: peak of thirty six dollars seventy to a share. It's 42 00:02:07,360 --> 00:02:10,560 Speaker 2: up nearly nineteen percent since January While the past couple 43 00:02:10,560 --> 00:02:13,200 Speaker 2: of sessions haven't been good for the tech stocks, there's 44 00:02:13,200 --> 00:02:15,639 Speaker 2: still plenty of confidence in the local market, with growing 45 00:02:15,680 --> 00:02:20,400 Speaker 2: expectations at interest rates will ultimately fall rather than rise. 46 00:02:20,639 --> 00:02:24,280 Speaker 2: Now we'll get an insight into that today when the 47 00:02:24,440 --> 00:02:27,600 Speaker 2: monthly consumer price index figures come out. We're all hoping 48 00:02:27,639 --> 00:02:30,760 Speaker 2: that's not too high. If it's not too high, then 49 00:02:30,840 --> 00:02:35,320 Speaker 2: the chances of a rate cut this year increase somewhat. 50 00:02:35,760 --> 00:02:37,600 Speaker 1: And Sean, of course, we'll be able to hear your 51 00:02:37,639 --> 00:02:41,920 Speaker 1: thoughts on that. After the data comes out. We'll be 52 00:02:41,919 --> 00:02:45,239 Speaker 1: putting out the Fear and Greed weekly newsletter, which you 53 00:02:45,280 --> 00:02:48,160 Speaker 1: can sign up for now at Fearangreed dot com dot au. 54 00:02:48,240 --> 00:02:49,919 Speaker 1: It comes out once a week and just so happens 55 00:02:49,960 --> 00:02:51,680 Speaker 1: to be on a Wednesday, which means that we can 56 00:02:51,760 --> 00:02:54,760 Speaker 1: do it so that you get to hear Sean Aylmer's 57 00:02:54,800 --> 00:02:57,960 Speaker 1: opinion on everything, including those inflation figures. 58 00:02:58,080 --> 00:03:01,280 Speaker 2: See, people in my household really are sick of my opinion, 59 00:03:01,680 --> 00:03:04,679 Speaker 2: so I'm enjoying putting it in the newsletter. So I've 60 00:03:04,680 --> 00:03:07,160 Speaker 2: got someone else sort of a captured audience or something. 61 00:03:07,280 --> 00:03:09,520 Speaker 1: Oh it's fantastic, isn't it. Well, it's an easy thing. 62 00:03:09,560 --> 00:03:11,760 Speaker 1: To do and it's free to sign up fearanngreed dot 63 00:03:11,800 --> 00:03:14,320 Speaker 1: com dot Au and you will get that mid morning 64 00:03:14,360 --> 00:03:16,680 Speaker 1: after that data has been released. We will bake it 65 00:03:16,800 --> 00:03:20,240 Speaker 1: fresh straight after that. Now, Sean, you mentioned the tech stocks. 66 00:03:20,360 --> 00:03:22,760 Speaker 1: They're the one we've been talking about for months is 67 00:03:22,880 --> 00:03:27,480 Speaker 1: chip maker in video. It's had a rough few days, 68 00:03:27,919 --> 00:03:31,320 Speaker 1: hasn't it. With four hundred and thirty billion dollars in 69 00:03:31,560 --> 00:03:34,600 Speaker 1: this just a staggering number. Four hundred and thirty billion 70 00:03:34,840 --> 00:03:38,040 Speaker 1: US dollars in value lopped off over the past three sessions. 71 00:03:38,240 --> 00:03:41,920 Speaker 2: Yeah, that's about six hundred and fifty billion Oussie dollars. 72 00:03:42,000 --> 00:03:43,120 Speaker 2: So that's what it's lost. 73 00:03:43,400 --> 00:03:43,560 Speaker 1: Now. 74 00:03:43,600 --> 00:03:46,040 Speaker 2: Six hundred and fifty billion Ossie dollars is more than 75 00:03:46,040 --> 00:03:50,200 Speaker 2: the combined value of Australia's three biggest companies BHP, come Off, 76 00:03:50,240 --> 00:03:53,560 Speaker 2: Bank and cssell and Vidia has fallen thirteen percent in 77 00:03:53,600 --> 00:03:56,720 Speaker 2: the past three sessions. It's now the number three company 78 00:03:56,720 --> 00:04:00,160 Speaker 2: on Wall Street, behind Microsoft and Apple. Mind you, its 79 00:04:00,160 --> 00:04:02,080 Speaker 2: share price is still up one hundred and forty five 80 00:04:02,120 --> 00:04:06,760 Speaker 2: percent this year, simply because Nvidia is so big. The 81 00:04:07,080 --> 00:04:10,800 Speaker 2: selloff now ranks as the biggest on record over three 82 00:04:10,880 --> 00:04:14,240 Speaker 2: days for one company in dollar terms. Now In the 83 00:04:14,320 --> 00:04:17,120 Speaker 2: past couple of sessions, there's been chat about the artificial 84 00:04:17,160 --> 00:04:21,480 Speaker 2: intelligence boom kind of somewhat being overegged in the stocks 85 00:04:21,520 --> 00:04:25,479 Speaker 2: being somewhat overvalued. Investors are wondering whether there's just a 86 00:04:25,560 --> 00:04:29,440 Speaker 2: little too much froth around some of these AI companies. 87 00:04:29,600 --> 00:04:34,200 Speaker 2: They're also questioning whether Nvidia specifically is too expensive. May 88 00:04:34,480 --> 00:04:38,040 Speaker 2: be there are other cheaper AI related companies out there. 89 00:04:38,160 --> 00:04:41,039 Speaker 2: Some of those talks have actually done pretty well. Certainly, 90 00:04:41,160 --> 00:04:43,960 Speaker 2: Nvidia has been sold off big time over the past 91 00:04:43,960 --> 00:04:45,120 Speaker 2: three sessions. 92 00:04:44,960 --> 00:04:47,320 Speaker 1: As Jean, while we're on the topic of investing, you've 93 00:04:47,320 --> 00:04:49,440 Speaker 1: got an interesting interview coming up after the show with 94 00:04:49,520 --> 00:04:53,640 Speaker 1: Cameron Blanks, the managing director of Pacific Equity Partners. Yeah. 95 00:04:53,640 --> 00:04:56,640 Speaker 2: So, Pacific Equity Partners is one of the original private 96 00:04:56,640 --> 00:04:59,840 Speaker 2: equity groups in Australia and it's just good to get 97 00:05:00,160 --> 00:05:03,280 Speaker 2: of a one to one on private equity and investing 98 00:05:03,839 --> 00:05:08,400 Speaker 2: in private credit via private equity. So increasingly there are 99 00:05:08,400 --> 00:05:11,800 Speaker 2: funds available where you might want to invest fifty thousand 100 00:05:11,880 --> 00:05:15,840 Speaker 2: or one hundred thousand or something like that in private equity. 101 00:05:16,160 --> 00:05:19,800 Speaker 2: So that's what we're talking to Cameron about. It's really fascinating. 102 00:05:20,000 --> 00:05:22,120 Speaker 2: We go into the sorts of things that they look 103 00:05:22,160 --> 00:05:24,320 Speaker 2: for in a stock. We go into why you might 104 00:05:24,360 --> 00:05:28,880 Speaker 2: invest in private equity, diversification benefits, stuff like that. So 105 00:05:28,920 --> 00:05:31,040 Speaker 2: certainly for investors it is a great chat. 106 00:05:31,320 --> 00:05:34,080 Speaker 1: Yeah, I think I liked most of was that Cameron 107 00:05:34,400 --> 00:05:37,640 Speaker 1: gave some examples of the businesses that they've been involved 108 00:05:37,680 --> 00:05:40,360 Speaker 1: with in the past, including I think Peter's ice Cream, Yeah, 109 00:05:40,480 --> 00:05:43,800 Speaker 1: where they actually helped that company to double its profit. 110 00:05:44,200 --> 00:05:45,719 Speaker 1: It was just a great story and you told it 111 00:05:45,760 --> 00:05:46,120 Speaker 1: really well. 112 00:05:46,360 --> 00:05:48,520 Speaker 2: They brought that off Nesle and they turned it around 113 00:05:48,560 --> 00:05:50,080 Speaker 2: and sold it for a big profit. And that's that's 114 00:05:50,120 --> 00:05:54,040 Speaker 2: basically how private equity trying to make money, take an 115 00:05:54,080 --> 00:05:57,160 Speaker 2: asset which is undervalued, turn around, sell it for a 116 00:05:57,200 --> 00:05:59,320 Speaker 2: lot more, and investors get their rewards. 117 00:06:00,000 --> 00:06:02,280 Speaker 1: The interview with a good supporter of the podcast. Now, Sean, 118 00:06:02,279 --> 00:06:04,120 Speaker 1: you've given us the rundown on the local market. Was 119 00:06:04,120 --> 00:06:05,839 Speaker 1: there much corporate news around yesterday? 120 00:06:06,000 --> 00:06:09,560 Speaker 2: Oh, Michael, always plenty of corporate news around. Paladin Energy's 121 00:06:09,600 --> 00:06:12,039 Speaker 2: share price fell five percent after it said it had 122 00:06:12,120 --> 00:06:16,960 Speaker 2: made a takeover bid for Toronto listed fission uranium pathology group. 123 00:06:17,000 --> 00:06:20,839 Speaker 2: Helius rose slightly following a results update. Specialty dairy company 124 00:06:20,880 --> 00:06:24,680 Speaker 2: Sinlat Milk tumbled ten percent after warning it could tip 125 00:06:24,720 --> 00:06:28,400 Speaker 2: into insolvency if shareholders reject a critical one hundred and 126 00:06:28,400 --> 00:06:32,240 Speaker 2: twenty million dollar loane that will do it and billionaire 127 00:06:32,320 --> 00:06:35,880 Speaker 2: check businessmen Pavel tie Caax plans to buy a majority 128 00:06:35,880 --> 00:06:40,200 Speaker 2: stake in ASX listed coal miner Coronado Global Resources has 129 00:06:40,240 --> 00:06:44,840 Speaker 2: collapsed after his family office seven Global Investments. That's sev 130 00:06:45,000 --> 00:06:47,640 Speaker 2: dot em no idea where they spill it that way? 131 00:06:47,839 --> 00:06:50,920 Speaker 2: Seven Global Investments, Well, it failed to secure Foreign Investment 132 00:06:51,080 --> 00:06:56,200 Speaker 2: Review Board approval to invest in Coronado. Seven had agreed 133 00:06:56,240 --> 00:06:58,520 Speaker 2: to buy fifty one percent of the miner from Energy 134 00:06:58,520 --> 00:07:00,680 Speaker 2: and Minerals Group, which is the US based private equity 135 00:07:00,680 --> 00:07:03,600 Speaker 2: firm that actually put together the minor originally flated back 136 00:07:03,920 --> 00:07:07,200 Speaker 2: in twenty eighteen. On the AX anyway, FERB has said no, 137 00:07:07,400 --> 00:07:08,880 Speaker 2: so who knows where that one goes. 138 00:07:09,240 --> 00:07:11,840 Speaker 1: And what's happening in international markets, Well. 139 00:07:11,680 --> 00:07:13,560 Speaker 2: Prices are on the rise, with Brent crude hitting a 140 00:07:13,640 --> 00:07:16,400 Speaker 2: two month high of over eighty six US dollars a barrel. 141 00:07:16,520 --> 00:07:19,720 Speaker 2: It's up more than five percent this month. Goal prices 142 00:07:19,720 --> 00:07:22,200 Speaker 2: are down to touch. Bitcoins rebounded after a couple of 143 00:07:22,280 --> 00:07:25,320 Speaker 2: rough sessions. It's fetching sixty one thousand US dollars per 144 00:07:25,400 --> 00:07:29,880 Speaker 2: units A dollars buying sixty six point six US since exciting, 145 00:07:29,960 --> 00:07:33,120 Speaker 2: isn't it? And on Wall Street, the non tech stocks 146 00:07:33,120 --> 00:07:34,960 Speaker 2: are doing pretty well. So the S and P five 147 00:07:35,040 --> 00:07:37,480 Speaker 2: hundred close flat yesterday, but the Nasdaq was sold off 148 00:07:37,520 --> 00:07:41,120 Speaker 2: big time. Think Nvidia. In fact, it notched its biggest 149 00:07:41,120 --> 00:07:43,440 Speaker 2: one day loss in almost two months yesterday morning. 150 00:07:44,000 --> 00:07:46,800 Speaker 1: Brent Krude hitting a two month high. That's not good 151 00:07:46,840 --> 00:07:48,560 Speaker 1: news for petrol prices, is it. 152 00:07:48,560 --> 00:07:51,560 Speaker 2: It's not, though, you know, go to the HBC website, 153 00:07:51,600 --> 00:07:55,800 Speaker 2: because I have tried so hard to marry Brent Krude 154 00:07:55,800 --> 00:08:00,440 Speaker 2: prices with petrol prices, but the lag seems to change, 155 00:08:00,880 --> 00:08:04,480 Speaker 2: and so even as certainly they're connected, but then there's 156 00:08:04,480 --> 00:08:08,080 Speaker 2: a cyclical nature to it, like right now along the 157 00:08:08,080 --> 00:08:11,240 Speaker 2: East Coast, petrol prices I'd say a medium. They're not low, 158 00:08:11,320 --> 00:08:13,600 Speaker 2: but they're not high either, like it was coming off 159 00:08:14,240 --> 00:08:18,320 Speaker 2: the cycle. And so you're right, I don't know, Michael. 160 00:08:18,440 --> 00:08:20,440 Speaker 1: I don't know that. And I've been waiting so long 161 00:08:20,480 --> 00:08:23,280 Speaker 1: for them to drop, expecting them to drop. I have 162 00:08:23,440 --> 00:08:27,440 Speaker 1: twenty four kilometers of fuel left in the car, Like 163 00:08:27,520 --> 00:08:29,400 Speaker 1: I now get to a hill and I just have 164 00:08:29,480 --> 00:08:32,160 Speaker 1: to roll down it in neutral and hope that I'm 165 00:08:32,200 --> 00:08:35,359 Speaker 1: going to it's become now just a matter of principle, 166 00:08:35,520 --> 00:08:38,000 Speaker 1: and that I'm not going until they drop a little bit, 167 00:08:38,120 --> 00:08:40,080 Speaker 1: and if it means I can't drive up hills for 168 00:08:40,080 --> 00:08:41,440 Speaker 1: a little while, and so be it. 169 00:08:42,000 --> 00:08:44,040 Speaker 2: Yeah, well I think now it's not a bad time. 170 00:08:44,080 --> 00:08:46,640 Speaker 2: So you're on the East Coast, you're in Sydney, so 171 00:08:46,679 --> 00:08:49,080 Speaker 2: it's actually not a bad time to buy petrol. Not 172 00:08:49,120 --> 00:08:51,280 Speaker 2: the cheapest, but certainly not the most expensive. 173 00:08:51,920 --> 00:08:54,520 Speaker 1: Some fantastic advice, and there'll be more advice like that, 174 00:08:54,840 --> 00:08:58,920 Speaker 1: hopefully much much better in today's in today's edition of 175 00:08:58,920 --> 00:09:01,080 Speaker 1: the Fear and Green newsletter, So don't forget to sign 176 00:09:01,160 --> 00:09:02,920 Speaker 1: up at the website. We'll be back in a moment 177 00:09:02,960 --> 00:09:11,640 Speaker 1: with the rest of the day's business news. Sean Wiki 178 00:09:11,720 --> 00:09:15,840 Speaker 1: Leagues founder Julian Assange is due back in Australia today 179 00:09:16,040 --> 00:09:19,440 Speaker 1: after agreeing to plead guilty to a single criminal count 180 00:09:19,520 --> 00:09:24,160 Speaker 1: of conspiring to obtain and disclose classified US national defense documents. 181 00:09:24,559 --> 00:09:26,680 Speaker 2: I have a night, mister Esange was on a flight 182 00:09:26,840 --> 00:09:30,120 Speaker 2: to the Northern Mariana Islands, a US territory in the 183 00:09:30,160 --> 00:09:32,800 Speaker 2: Western Pacific, where he is due to appear in the 184 00:09:32,840 --> 00:09:36,000 Speaker 2: Saipan court. He's due to be sentenced to sixty two 185 00:09:36,040 --> 00:09:39,280 Speaker 2: months of time already served. Now Saipan is the capital 186 00:09:39,320 --> 00:09:42,079 Speaker 2: of the territory. The deal does need to be approved 187 00:09:42,120 --> 00:09:46,439 Speaker 2: by the local judge. That hearing is nine am Australian 188 00:09:46,559 --> 00:09:50,480 Speaker 2: Eastern Time this morning. Assage left the UK after being 189 00:09:50,480 --> 00:09:53,559 Speaker 2: bailed by the UK High Court. Back in twenty ten, 190 00:09:53,600 --> 00:09:57,679 Speaker 2: WikiLeaks released hundreds of thousands of classified US military documents 191 00:09:57,920 --> 00:10:01,040 Speaker 2: on Washington's wars in Afghanistan and i Iraq, the largest 192 00:10:01,080 --> 00:10:05,320 Speaker 2: security breaches of their kind in US military history, along 193 00:10:05,360 --> 00:10:08,600 Speaker 2: with swedes of diplomatic cables. A Sage was indicted during 194 00:10:08,640 --> 00:10:11,400 Speaker 2: the Trump administration over the mass release of the documents, 195 00:10:11,400 --> 00:10:13,800 Speaker 2: which are actually leaked by a woman called Chelsea Manning. 196 00:10:14,080 --> 00:10:17,400 Speaker 2: She was a former US military intelligence analyst. She was 197 00:10:17,440 --> 00:10:22,640 Speaker 2: also prosecuted. Initially, A Sage was actually arrested over alleged 198 00:10:22,720 --> 00:10:26,400 Speaker 2: sex crimes in Sweden that in June twenty twelve, he 199 00:10:26,559 --> 00:10:30,079 Speaker 2: entered Ecuador's embassy in London. He was there for seven years. 200 00:10:30,440 --> 00:10:33,120 Speaker 2: In April twenty nineteen, he was removed from the embassy 201 00:10:33,120 --> 00:10:35,040 Speaker 2: in charge. With skipping bail. He spent most of the 202 00:10:35,120 --> 00:10:38,640 Speaker 2: last five years at London's top security Belmarsh Prison, fighting 203 00:10:38,720 --> 00:10:42,360 Speaker 2: extradition to the US. Anyway, adeal has finally been done. 204 00:10:42,400 --> 00:10:46,520 Speaker 2: There's been heavy heavy lobbying by Australian politicians, including the 205 00:10:46,559 --> 00:10:49,640 Speaker 2: Prime Minister Anthony Alberanzi and this asternoon I think he 206 00:10:49,679 --> 00:10:52,079 Speaker 2: should be back on Australian soil sewn. 207 00:10:52,160 --> 00:10:55,400 Speaker 1: Consumer sentiment is rising, which is good for the economy, 208 00:10:55,440 --> 00:10:58,600 Speaker 1: though households remained pessimistic about the economy. 209 00:10:58,800 --> 00:11:02,160 Speaker 2: The Westpac Melbourne is Consumer Sentiment Index rows to eighty 210 00:11:02,200 --> 00:11:04,280 Speaker 2: three point six points, but that remains well below the 211 00:11:04,320 --> 00:11:08,120 Speaker 2: neutral level of one hundred, meaning pessimus outnumber optimists by 212 00:11:08,240 --> 00:11:10,839 Speaker 2: nearly twenty percentage points. The good news from all the 213 00:11:10,880 --> 00:11:14,280 Speaker 2: budget initiatives are being negated by increased concerns about inflation 214 00:11:14,559 --> 00:11:16,840 Speaker 2: and the outlook for interest rates. The survey shows at 215 00:11:16,840 --> 00:11:19,400 Speaker 2: half of consumers expect mortgage rates to rise over the 216 00:11:19,440 --> 00:11:22,960 Speaker 2: next twelve months. When asked, survey respondents recall things like 217 00:11:23,120 --> 00:11:26,720 Speaker 2: budgets and tax inflation used in those types of things 218 00:11:26,720 --> 00:11:27,600 Speaker 2: more than anything else. 219 00:11:28,040 --> 00:11:30,000 Speaker 1: Quantus I mentioned this at the top of the show. 220 00:11:30,160 --> 00:11:33,200 Speaker 1: Has fallen to its lowest ranking in more than a 221 00:11:33,280 --> 00:11:37,440 Speaker 1: decade among global Airlines, with Figir coming in top among 222 00:11:37,480 --> 00:11:38,480 Speaker 1: the region's carriers. 223 00:11:39,000 --> 00:11:42,320 Speaker 2: The Skytrack's Awards, which of the industry benchmark, puts Quantus 224 00:11:42,360 --> 00:11:45,280 Speaker 2: at number twenty four in the world, down from seventeen 225 00:11:45,400 --> 00:11:48,760 Speaker 2: last year. Rex came in at fifty, Virgin Australia at 226 00:11:48,760 --> 00:11:53,160 Speaker 2: fifty four. Jetstar was the seventy fifth best airline. The 227 00:11:53,320 --> 00:11:58,320 Speaker 2: rankings considered comfort, cuisine, in flight, audio and video entertainment service, 228 00:11:58,679 --> 00:12:02,240 Speaker 2: the aircraft fleet, plus other things. Quantus has been struggling 229 00:12:02,240 --> 00:12:04,960 Speaker 2: to recover from a pretty shocking twenty twenty three that 230 00:12:05,080 --> 00:12:08,920 Speaker 2: ultimately forced CEO Alan Joyce to retire early. New chief 231 00:12:08,920 --> 00:12:11,559 Speaker 2: executive Vanessa Hudson pledged two hundred and thirty million dollars 232 00:12:11,559 --> 00:12:15,800 Speaker 2: in spending to fix customer pain points, including its onboard meals, 233 00:12:15,960 --> 00:12:19,920 Speaker 2: lounges and introducing Wi Fi on aging fleets. Earlier this year, 234 00:12:19,960 --> 00:12:23,439 Speaker 2: she said the Airlines Net Promoter scores were trending positively 235 00:12:23,559 --> 00:12:27,679 Speaker 2: after the last year's horror, showing clearly based on these rankings, 236 00:12:27,720 --> 00:12:29,720 Speaker 2: there's still a way to go. Number one of the 237 00:12:29,720 --> 00:12:32,320 Speaker 2: world was Qatar Airways. It beat Singapore Airlines to be 238 00:12:32,360 --> 00:12:35,120 Speaker 2: named the world's best, with Emirates taking out third position. 239 00:12:35,920 --> 00:12:40,120 Speaker 2: Then Michael A and Al Nippon cate Pacific, Japan Airlines 240 00:12:40,120 --> 00:12:44,479 Speaker 2: and Turkish Airlines. Fijia came in at fourteen. Good on Figia. 241 00:12:44,559 --> 00:12:47,120 Speaker 2: I have flown fig in last couple of years. Fantastic 242 00:12:47,160 --> 00:12:47,920 Speaker 2: airline US. 243 00:12:47,960 --> 00:12:49,520 Speaker 1: I'm about to say the same thing I though on 244 00:12:50,000 --> 00:12:54,000 Speaker 1: Veji Airways last year too. Well, funnily enough Fiji and 245 00:12:54,480 --> 00:12:57,760 Speaker 1: I thought it was great. And they don't sponsor US 246 00:12:57,800 --> 00:13:00,960 Speaker 1: or anything that we would be very very happy to 247 00:13:01,040 --> 00:13:04,640 Speaker 1: accept them as a sponsor of fear and greed and hate. 248 00:13:05,160 --> 00:13:06,480 Speaker 1: Do a show from Fiji. 249 00:13:07,160 --> 00:13:10,880 Speaker 2: Shameless, Michael shameless, I'm going to drop that line of conversation. 250 00:13:11,600 --> 00:13:12,720 Speaker 2: But they are a great airline. 251 00:13:12,760 --> 00:13:14,439 Speaker 1: I was about to start praising their food, and they're 252 00:13:14,480 --> 00:13:16,640 Speaker 1: in fired entertainment and how comfortable the seats are and 253 00:13:16,679 --> 00:13:19,120 Speaker 1: all that. But Sean, just you go on now, I 254 00:13:19,160 --> 00:13:19,720 Speaker 1: will say so. 255 00:13:19,800 --> 00:13:23,240 Speaker 2: My daughter flew FIJIIR to Fiji and then to Canada, 256 00:13:23,440 --> 00:13:26,680 Speaker 2: so an even longer flight. She thought it was great anyway. 257 00:13:27,080 --> 00:13:29,560 Speaker 2: All for Fiji coming in at number fourteen and New 258 00:13:29,640 --> 00:13:32,680 Speaker 2: Zealand was twenty two. The awards are judged by customers 259 00:13:32,720 --> 00:13:35,400 Speaker 2: from one hundred countries and the three hundred and fifty 260 00:13:35,440 --> 00:13:37,960 Speaker 2: participating airlines don't pay to appear in the survey, so 261 00:13:38,480 --> 00:13:40,520 Speaker 2: it's a pretty rigorous process. 262 00:13:40,920 --> 00:13:44,080 Speaker 1: Now sean back on track. Billions of dollars of investment 263 00:13:44,360 --> 00:13:46,480 Speaker 1: in wind farms. I say that as though it's your 264 00:13:46,520 --> 00:13:47,760 Speaker 1: fault that we went off tract. 265 00:13:47,920 --> 00:13:49,080 Speaker 2: Did we go off track? Though? 266 00:13:49,160 --> 00:13:51,440 Speaker 1: Did we well a little bit? It became a shameless 267 00:13:51,440 --> 00:13:54,920 Speaker 1: commercial plug to try and ways to advertise with us. 268 00:13:55,280 --> 00:13:56,720 Speaker 1: But anyway, we are back on track. 269 00:13:56,840 --> 00:13:57,080 Speaker 2: Good. 270 00:13:57,160 --> 00:14:01,320 Speaker 1: Billions of dollars of investment in win has been unable 271 00:14:01,320 --> 00:14:04,920 Speaker 1: to boost energy generation during the June quarter, contributing to 272 00:14:04,960 --> 00:14:07,079 Speaker 1: the squeeze on East Coast gas supplies. 273 00:14:07,400 --> 00:14:10,840 Speaker 2: Electricity generation from wind farms in the national electricity market 274 00:14:10,920 --> 00:14:14,480 Speaker 2: since April one is roughly flat compared with the same 275 00:14:14,520 --> 00:14:17,920 Speaker 2: quarter in twenty twenty one, despite about twenty five hundred 276 00:14:18,000 --> 00:14:22,600 Speaker 2: megawats wind capacity having been added since then. That's according 277 00:14:22,640 --> 00:14:27,000 Speaker 2: to an analysis by electricity market watcher Global Rome reported 278 00:14:27,120 --> 00:14:30,320 Speaker 2: in the AFR. Since twenty twenty wind power capacity has 279 00:14:30,360 --> 00:14:33,760 Speaker 2: increased by about half, or almost four thousand megawats. The 280 00:14:33,800 --> 00:14:37,440 Speaker 2: tutal production of electricity from wind this June quarter may 281 00:14:37,560 --> 00:14:40,520 Speaker 2: only be up fifteen percent with the current quarter heading 282 00:14:40,520 --> 00:14:45,120 Speaker 2: towards being the lowest output since twenty seventeen. Now, this 283 00:14:45,280 --> 00:14:49,080 Speaker 2: actually brings to the four one of the big issues, 284 00:14:49,120 --> 00:14:53,120 Speaker 2: particularly in winter. Energy advisors have for a long time 285 00:14:53,440 --> 00:14:57,160 Speaker 2: been warning about the risk of a renewables drought in 286 00:14:57,240 --> 00:15:01,200 Speaker 2: winter months where there's prolonged period when both solar and 287 00:15:01,240 --> 00:15:06,680 Speaker 2: wind power generation are actually subdued. Problem when we are 288 00:15:06,680 --> 00:15:09,720 Speaker 2: trying to get rid of our energy dependency on caul 289 00:15:09,800 --> 00:15:13,280 Speaker 2: fire power stations and gas. Clearly this adds the argument 290 00:15:13,320 --> 00:15:15,760 Speaker 2: that gas is going to have to hang around as 291 00:15:15,800 --> 00:15:18,960 Speaker 2: a transition energy source for some time. 292 00:15:19,280 --> 00:15:21,880 Speaker 1: Sure, and the federal government has dropped its ban on 293 00:15:22,080 --> 00:15:25,800 Speaker 1: vapes and will only allow registered pharmacists to sell them. 294 00:15:26,240 --> 00:15:29,680 Speaker 2: Sounds a bit ironic to me that pharmacies sell vapes. 295 00:15:30,080 --> 00:15:32,720 Speaker 2: So too the Pharmacy Guild of Australia. They think it's 296 00:15:32,760 --> 00:15:35,960 Speaker 2: ironic because they oppose the idea individual chemists can decide 297 00:15:35,960 --> 00:15:38,200 Speaker 2: if they want to carry vapes or not. The notion 298 00:15:38,320 --> 00:15:41,520 Speaker 2: is that pharmacies sell vapes to help people quit smoking, 299 00:15:41,920 --> 00:15:46,080 Speaker 2: rather than for recreational use. The original legislation was for people, well, 300 00:15:46,200 --> 00:15:48,320 Speaker 2: people could only get a vape if they had a 301 00:15:48,400 --> 00:15:52,200 Speaker 2: doctor's prescription. That's been watered down. Health Minister Mark Butler 302 00:15:52,240 --> 00:15:55,320 Speaker 2: said pharmacists are already stocking vapes and the watering down 303 00:15:55,360 --> 00:15:58,480 Speaker 2: of initial plans is a sensible balance between access and 304 00:15:58,600 --> 00:16:01,400 Speaker 2: serious reform. We said chemists would have to be able 305 00:16:01,400 --> 00:16:05,160 Speaker 2: to demonstrate that vates sold comply with standard set by 306 00:16:05,160 --> 00:16:10,280 Speaker 2: the Therapeutic Goods Administration. Interesting buy your vape from a 307 00:16:10,320 --> 00:16:12,480 Speaker 2: chemist doesn't seem to make much sense to. 308 00:16:12,440 --> 00:16:16,480 Speaker 1: Me, No, certainly doesn't. Actually, times are getting tougher sean 309 00:16:16,600 --> 00:16:20,400 Speaker 1: for Colin's Foods, owner of fast food group KFC, as 310 00:16:20,440 --> 00:16:22,000 Speaker 1: customers cut back spending. 311 00:16:22,400 --> 00:16:24,920 Speaker 2: Higher mortgage bills, rents and energy bills, as well as 312 00:16:24,960 --> 00:16:28,920 Speaker 2: inflation are all eating into consumer spending, and Colin's Foods, 313 00:16:28,960 --> 00:16:32,240 Speaker 2: including the two hundred and seventy nine KFC outlets, reported 314 00:16:32,400 --> 00:16:36,080 Speaker 2: same store sales nearly one percent lower than last year. 315 00:16:36,320 --> 00:16:38,680 Speaker 2: The outlook for the coming year isn't much better. According 316 00:16:38,680 --> 00:16:42,200 Speaker 2: to interim chief executive Kevin Perkins, the group looked closely 317 00:16:42,240 --> 00:16:45,280 Speaker 2: at introducing more bundling of menu items and special offers 318 00:16:45,480 --> 00:16:48,280 Speaker 2: to help families under pressure with household budgets. There were 319 00:16:48,280 --> 00:16:51,120 Speaker 2: some better news in the taco bell side of the business, 320 00:16:51,160 --> 00:16:53,760 Speaker 2: with same store sales up over the last year. Mind 321 00:16:53,800 --> 00:16:56,680 Speaker 2: you the rollout of the Taco Bell stores has been 322 00:16:56,760 --> 00:17:01,560 Speaker 2: temporarily suspended. Overall, Colin's Foods net profit jumped five hundred percent. 323 00:17:01,680 --> 00:17:05,040 Speaker 2: Sounds a lot, but it went from not much to 324 00:17:05,040 --> 00:17:08,360 Speaker 2: seventy seven million dollars. Did have record revenue, though, that's 325 00:17:08,359 --> 00:17:12,320 Speaker 2: the good news. Colin's Food's share price has tumbled twenty 326 00:17:12,359 --> 00:17:14,320 Speaker 2: five percent so far this year, or at least that 327 00:17:14,359 --> 00:17:17,880 Speaker 2: wasn't until yesterday morning. Yesterday's announcement was actually better than expected. 328 00:17:18,119 --> 00:17:20,240 Speaker 2: Is share price closed up seven and a half percent. 329 00:17:20,520 --> 00:17:22,080 Speaker 2: In fact, it was the best of the top two 330 00:17:22,119 --> 00:17:23,000 Speaker 2: hundred for the session. 331 00:17:23,680 --> 00:17:27,119 Speaker 1: A very exciting story shown. The avocado crop this financial 332 00:17:27,200 --> 00:17:30,040 Speaker 1: the year is up about twenty percent to a record 333 00:17:30,119 --> 00:17:33,200 Speaker 1: one hundred and thirty nine thousand tons, and the good 334 00:17:33,240 --> 00:17:36,320 Speaker 1: news for growers is that increasing export demand will soak 335 00:17:36,400 --> 00:17:37,639 Speaker 1: up some of that extra supply. 336 00:17:38,000 --> 00:17:41,520 Speaker 2: Huh, very exciting. The Rabo Ben Global Avocado Update twenty 337 00:17:41,520 --> 00:17:44,320 Speaker 2: twenty four, which I know you've been waiting for, says 338 00:17:44,520 --> 00:17:47,160 Speaker 2: the growth in production is driven by more than fifteen 339 00:17:47,240 --> 00:17:51,400 Speaker 2: hundred hectares of avocado planting expected to reach maturity this year. 340 00:17:51,800 --> 00:17:54,520 Speaker 2: There's another four thousand hectares of orchards maturing in the 341 00:17:54,560 --> 00:17:58,399 Speaker 2: next five years, there will be avocados everywhere. While the 342 00:17:58,400 --> 00:18:02,520 Speaker 2: local market is over supplied, hence the relatively low prices 343 00:18:02,600 --> 00:18:06,119 Speaker 2: of avocados, the export market, at thirteen percent of production, 344 00:18:06,359 --> 00:18:10,080 Speaker 2: is growing. According to Rabobank, Hong Kong, Singapore and Malaysia 345 00:18:10,760 --> 00:18:15,000 Speaker 2: big buyers of ossie avocados. Also, there's growth in Japan 346 00:18:15,119 --> 00:18:18,360 Speaker 2: or from Japan as well. Avocados are considered a powerhouse 347 00:18:18,400 --> 00:18:21,960 Speaker 2: superferred Michael. We've talked about this before, healthy fats and 348 00:18:22,160 --> 00:18:26,600 Speaker 2: the aging, disease fighting antioxidants, nearly twenty vitamins and minerals. 349 00:18:27,000 --> 00:18:29,480 Speaker 2: You know. The avocado growers all talk about the health 350 00:18:29,480 --> 00:18:34,200 Speaker 2: benefits around weight loss, hard illness, diabetes, gut health, brain function, eyesight. 351 00:18:35,080 --> 00:18:37,200 Speaker 2: We love a good avocado. But I have a question 352 00:18:37,280 --> 00:18:38,240 Speaker 2: for you, Michael. 353 00:18:38,680 --> 00:18:42,600 Speaker 1: Oh go on. Oh, you know, I hate it when 354 00:18:42,600 --> 00:18:45,160 Speaker 1: you asked me questions. I just break out in the sweat. 355 00:18:45,359 --> 00:18:45,920 Speaker 1: Please go on. 356 00:18:46,480 --> 00:18:50,560 Speaker 2: So, well, it's quite a logical answer if you know 357 00:18:50,680 --> 00:18:51,959 Speaker 2: the answer, but if you don't know the answer, it's 358 00:18:51,960 --> 00:18:55,600 Speaker 2: probably not. There's one very dominant player in the world 359 00:18:55,720 --> 00:18:57,880 Speaker 2: avocado export market. 360 00:18:58,480 --> 00:19:01,800 Speaker 1: Okay, So a country that grows more and exports more 361 00:19:02,040 --> 00:19:03,320 Speaker 1: Mexico it'll be Mexico. 362 00:19:03,480 --> 00:19:06,760 Speaker 2: Yes, well done, well done, and yours. 363 00:19:07,160 --> 00:19:09,919 Speaker 1: You know how I know And it's not Google. It 364 00:19:10,040 --> 00:19:14,080 Speaker 1: is because they are always advertising during the Super Bowl. 365 00:19:15,359 --> 00:19:19,160 Speaker 1: You know, those avocados from Mexico adds as the catch 366 00:19:19,200 --> 00:19:22,200 Speaker 1: phrases avocados from Mexico. It's a little jingle and I'm 367 00:19:22,200 --> 00:19:23,720 Speaker 1: not going to sing it because I'm not going to 368 00:19:23,720 --> 00:19:26,760 Speaker 1: embarrass myself. But the Super Bowl has taught me one thing. 369 00:19:27,440 --> 00:19:30,879 Speaker 2: Avocados from Mexico. So the US are the biggest consumers 370 00:19:30,920 --> 00:19:35,080 Speaker 2: of avocados. Avocados don't travel particularly well, so if you 371 00:19:35,080 --> 00:19:39,800 Speaker 2: look at our local export markets Hong Kong, Singapore, Malaysia, Japan, Mexico, 372 00:19:40,200 --> 00:19:43,280 Speaker 2: they're right next to the biggest consumers of avocados the US. 373 00:19:43,480 --> 00:19:44,800 Speaker 2: Hence they're the biggest exports. 374 00:19:44,960 --> 00:19:46,720 Speaker 1: So you go, I can't even get an avocado home 375 00:19:46,760 --> 00:19:50,119 Speaker 1: from Woolworths without prison to be able to go in 376 00:19:50,160 --> 00:19:51,679 Speaker 1: from Mexico and anything that. 377 00:19:51,720 --> 00:19:55,320 Speaker 2: With the avocado, there's probably a three hour window where 378 00:19:55,320 --> 00:19:55,920 Speaker 2: it's perfect. 379 00:19:56,160 --> 00:19:58,600 Speaker 1: Oh yeah, yeah, yeah. And sometimes that three hour window 380 00:19:58,640 --> 00:20:00,560 Speaker 1: will happen kind of from one am too four am 381 00:20:00,680 --> 00:20:02,760 Speaker 1: or something. In Tarlt Taylor, you go to bed and 382 00:20:02,800 --> 00:20:04,760 Speaker 1: the avocado is rock hard. You wake up in the 383 00:20:04,760 --> 00:20:07,159 Speaker 1: morning and it's just mushy and soft, and god it 384 00:20:07,200 --> 00:20:07,920 Speaker 1: happened overnight. 385 00:20:08,240 --> 00:20:09,280 Speaker 2: Shouldn't have left the heater on. 386 00:20:09,680 --> 00:20:14,040 Speaker 1: Indeed, all right, Sean. Moving on international news time, Apple 387 00:20:14,600 --> 00:20:18,840 Speaker 1: is imposing unfair restrictions on developers of applications for its 388 00:20:18,840 --> 00:20:22,440 Speaker 1: app store, in violation of a new EU law that's 389 00:20:22,480 --> 00:20:25,040 Speaker 1: meant to encourage competition in the tech sector. According to 390 00:20:25,080 --> 00:20:26,800 Speaker 1: European regulators. 391 00:20:26,400 --> 00:20:29,080 Speaker 2: Apple's the first company to be charged with violating the 392 00:20:29,119 --> 00:20:32,120 Speaker 2: Digital Markets Act, a law passed a couple of years 393 00:20:32,119 --> 00:20:35,199 Speaker 2: ago that gives European regulators wide authority to force the 394 00:20:35,280 --> 00:20:38,680 Speaker 2: largest online gatekeepers, as they put it, to change their 395 00:20:38,720 --> 00:20:41,720 Speaker 2: business practices. According to report in The New York Times, 396 00:20:42,200 --> 00:20:45,679 Speaker 2: the EU rules threaten to fragment the global tech marketers 397 00:20:45,720 --> 00:20:48,600 Speaker 2: companies to lay the release of certain products and services 398 00:20:48,640 --> 00:20:51,639 Speaker 2: because of regulatory concerns. So last week, Apple said it 399 00:20:51,640 --> 00:20:54,359 Speaker 2: wouldn't release the software update for iPhone users in the 400 00:20:54,400 --> 00:20:58,359 Speaker 2: EU that included new artificial intelligence features because of what 401 00:20:58,359 --> 00:21:02,480 Speaker 2: it called regulatory uncertainty. Meta didn't release Threads, its Twitter 402 00:21:02,600 --> 00:21:05,000 Speaker 2: like service in the BLOCK until five months after it 403 00:21:05,040 --> 00:21:08,480 Speaker 2: was available in the US for similar reasons, No doubt 404 00:21:08,480 --> 00:21:11,399 Speaker 2: the EU regulators have been most aggressive in taking on 405 00:21:11,480 --> 00:21:15,399 Speaker 2: the big tech platforms. These most recent charges further escalate 406 00:21:15,440 --> 00:21:18,840 Speaker 2: the tussle between Apple, which it has always argued its 407 00:21:18,880 --> 00:21:22,520 Speaker 2: products are designed in the best interest of customers, between 408 00:21:22,560 --> 00:21:25,240 Speaker 2: Apple and the EU regulators to say the company's unfairly 409 00:21:25,320 --> 00:21:29,240 Speaker 2: using its size and considerable resources to stifle competition. This 410 00:21:29,440 --> 00:21:32,199 Speaker 2: is a familiar argument for us in Australia and in 411 00:21:32,240 --> 00:21:34,320 Speaker 2: North America and other parts of the world. So we're 412 00:21:34,320 --> 00:21:36,280 Speaker 2: all going to be watching this one very very closely. 413 00:21:36,760 --> 00:21:38,880 Speaker 1: You know, who'd be able to get an avocado from 414 00:21:38,920 --> 00:21:43,840 Speaker 1: Mexico to Australia without bruising at Sean, VG Airways, VG 415 00:21:43,920 --> 00:21:46,160 Speaker 1: Airways smoothest flight I've ever had. 416 00:21:46,280 --> 00:21:47,680 Speaker 2: I wonder if they fight in Mexico. 417 00:21:48,520 --> 00:21:51,840 Speaker 1: I don't know, I mean, I mean seems like to 418 00:21:51,840 --> 00:21:56,560 Speaker 1: me irrelevant details, Yes, right, right right, Apologies, that's fine. 419 00:21:56,600 --> 00:21:58,160 Speaker 1: They would be able to do it, though, Oh they would. 420 00:21:58,200 --> 00:22:02,600 Speaker 1: You could strap it into its own seat, treated like 421 00:22:02,640 --> 00:22:06,000 Speaker 1: a silkworm Sean. Up next is the Fear and Greed 422 00:22:06,040 --> 00:22:09,560 Speaker 1: Daily Interview with Cameron Blank's managing director, a Pacific Equity Partners, 423 00:22:09,560 --> 00:22:11,280 Speaker 1: a great supporter of the podcast. 424 00:22:11,080 --> 00:22:13,520 Speaker 2: All about investing in private equity, and we're not talking 425 00:22:13,520 --> 00:22:17,360 Speaker 2: about the big end of town. We're talking about sophisticated investors, 426 00:22:17,359 --> 00:22:19,040 Speaker 2: people that know what they're doing and they've got a 427 00:22:19,320 --> 00:22:21,200 Speaker 2: But you don't have to have hundreds of thousands of 428 00:22:21,240 --> 00:22:23,440 Speaker 2: dollars to do this. So we ask about, you know, 429 00:22:23,440 --> 00:22:25,840 Speaker 2: who should invest in private equity? What are the benefits 430 00:22:25,880 --> 00:22:27,439 Speaker 2: of it? And then he gives us some of the 431 00:22:27,480 --> 00:22:30,119 Speaker 2: examples of what Pacific Equity Partners have done over the years. 432 00:22:30,480 --> 00:22:31,920 Speaker 1: Yeah, it's a good chat. Is up next in the 433 00:22:31,960 --> 00:22:34,760 Speaker 1: Fear and Greed playlist on your podcast platform or at 434 00:22:34,840 --> 00:22:36,600 Speaker 1: Fearinggreed dot com dot a you, which is where you 435 00:22:36,600 --> 00:22:39,840 Speaker 1: sign up for the free weekly newsletter out today. Also 436 00:22:39,880 --> 00:22:41,800 Speaker 1: out today, how do they afford that? The new episode 437 00:22:41,840 --> 00:22:43,960 Speaker 1: of our sister podcast all about making your money work 438 00:22:44,000 --> 00:22:46,359 Speaker 1: harder for you. Today's topic, I know I've talked too 439 00:22:46,400 --> 00:22:48,239 Speaker 1: much this show sewn to I'm just going to keep 440 00:22:48,280 --> 00:22:51,479 Speaker 1: this very brief. Today's episode is all about investor clubs. 441 00:22:51,640 --> 00:22:54,520 Speaker 1: Is it worth joining an investment club where you kind 442 00:22:54,560 --> 00:22:56,320 Speaker 1: of pull your money and everyone kind of invests in 443 00:22:56,359 --> 00:22:58,159 Speaker 1: the same thing and you learn as you go. We 444 00:22:58,240 --> 00:23:00,000 Speaker 1: go into the pros and the cons and the benefits 445 00:23:00,040 --> 00:23:02,200 Speaker 1: and the potential risks as well. Of that, you'll find 446 00:23:02,240 --> 00:23:04,600 Speaker 1: that wherever you listen to podcasts, I'll put a link 447 00:23:04,640 --> 00:23:07,440 Speaker 1: in today's show notes as well. Thank you Sean, Thank 448 00:23:07,440 --> 00:23:10,359 Speaker 1: you Michael. It is Wednesday, the twenty sixth of June 449 00:23:10,440 --> 00:23:12,720 Speaker 1: twenty twenty four. Make sure you're following the podcast and 450 00:23:12,760 --> 00:23:17,320 Speaker 1: please join us online on LinkedIn, Instagram, x TikTok and Facebook. 451 00:23:17,480 --> 00:23:19,760 Speaker 1: I'm Michael Thompson. And that was Fear and greed. Have 452 00:23:19,840 --> 00:23:22,720 Speaker 1: a great day.