1
00:00:06,400 --> 00:00:08,760
Speaker 1: This is the weekend edition of Fear and Greed, daily

2
00:00:08,840 --> 00:00:11,639
Speaker 1: business news for people who make their own decisions. I'm

3
00:00:11,680 --> 00:00:13,880
Speaker 1: Michael Thompson and good morning Sean. Aylmer.

4
00:00:14,280 --> 00:00:15,920
Speaker 2: Good morning, Michael, Sean.

5
00:00:15,960 --> 00:00:18,840
Speaker 1: Our weekend show is very different to the weekday show.

6
00:00:18,880 --> 00:00:20,480
Speaker 1: It's about the two of us each nominating what we

7
00:00:20,520 --> 00:00:22,840
Speaker 1: think is the biggest business story of the week, the

8
00:00:22,840 --> 00:00:27,040
Speaker 1: most remarkable business story, a sleeper story, one that's flying

9
00:00:27,120 --> 00:00:30,200
Speaker 1: under the radar a little, and then our favorite story.

10
00:00:30,240 --> 00:00:32,519
Speaker 1: It's a competition, of course, so we are joined by

11
00:00:32,520 --> 00:00:35,320
Speaker 1: a judge to pick a winner, an impartial judge who

12
00:00:35,400 --> 00:00:38,360
Speaker 1: is not able to be swayed by anything except his

13
00:00:38,360 --> 00:00:41,199
Speaker 1: own bias. And that judge is our Fear and Greed colleague,

14
00:00:41,200 --> 00:00:43,120
Speaker 1: Adam Lang Adam, good morning.

15
00:00:43,120 --> 00:00:44,840
Speaker 3: Good morning, Michael, Good morning, Sean.

16
00:00:45,600 --> 00:00:48,800
Speaker 2: Morning Adam. I'd like just to point out that Michael said,

17
00:00:49,200 --> 00:00:54,400
Speaker 2: we are being joined by our feelers. Eventually. Eventually we

18
00:00:54,400 --> 00:00:57,280
Speaker 2: were joined a little late this morning listeners. But that's okay.

19
00:00:57,680 --> 00:01:02,120
Speaker 3: Yeah, do apologize anyway. I have no excuse except I'm

20
00:01:02,120 --> 00:01:04,400
Speaker 3: going to throw a child with illness under a bus.

21
00:01:04,600 --> 00:01:08,360
Speaker 2: You know, you know everyone has a pedant for a friend,

22
00:01:11,040 --> 00:01:11,720
Speaker 2: do they.

23
00:01:11,560 --> 00:01:13,199
Speaker 1: Though you were you're.

24
00:01:14,959 --> 00:01:15,240
Speaker 3: Sean.

25
00:01:15,959 --> 00:01:20,400
Speaker 2: Yep, you're my friend. And you know, in the older

26
00:01:20,400 --> 00:01:22,440
Speaker 2: we were laughing. You know, in the old days, you're

27
00:01:22,480 --> 00:01:26,480
Speaker 2: one minute late for a meeting, you just get that text, Adam. Anyway,

28
00:01:26,640 --> 00:01:29,640
Speaker 2: Adam turned up in the studio this morning six minutes late.

29
00:01:29,800 --> 00:01:32,720
Speaker 2: It was a joyous moment for Michael and I, who

30
00:01:32,760 --> 00:01:35,520
Speaker 2: have been known to be late. Adam has never been late.

31
00:01:35,760 --> 00:01:39,560
Speaker 3: It was excruciating or six minutes of being late. We're terrible.

32
00:01:39,600 --> 00:01:40,440
Speaker 3: I won't do it again.

33
00:01:40,640 --> 00:01:42,679
Speaker 1: I support you, Adam. I agree with your right to

34
00:01:42,720 --> 00:01:45,480
Speaker 1: be late. Now, Adam, what are your criteria today?

35
00:01:45,800 --> 00:01:51,520
Speaker 3: I will be judging on topicality, timeliness, economic impact, of course,

36
00:01:51,560 --> 00:01:55,160
Speaker 3: my subjective bias, and we love a touch of melodrama.

37
00:01:55,200 --> 00:01:56,720
Speaker 3: All of them will be counted.

38
00:01:56,640 --> 00:02:00,680
Speaker 1: Just a dash of melodrama. All right, Sean, would you

39
00:02:00,760 --> 00:02:03,840
Speaker 1: like to kick us off with the biggest story of

40
00:02:03,880 --> 00:02:04,320
Speaker 1: the week.

41
00:02:04,960 --> 00:02:10,640
Speaker 4: Well, well, well, well, well, well, well, who would have

42
00:02:10,720 --> 00:02:14,800
Speaker 4: thought that on the weekend after the winter solstice we'd

43
00:02:14,800 --> 00:02:17,200
Speaker 4: be talking about lifting interest rates?

44
00:02:17,680 --> 00:02:22,280
Speaker 2: Absolutely? No one, well, not many, a few, but not many.

45
00:02:23,080 --> 00:02:24,760
Speaker 2: But here we are at the end of the week

46
00:02:24,800 --> 00:02:28,799
Speaker 2: in which the Reserve Bank sounded decidedly hawkish or less

47
00:02:28,800 --> 00:02:32,880
Speaker 2: optimistic about getting inflation lower given current policy settings. That's

48
00:02:32,919 --> 00:02:38,720
Speaker 2: where we stand. There's only one story this week, interest rates. Yes,

49
00:02:38,800 --> 00:02:41,080
Speaker 2: I know, am I not so learned? In an economics friend,

50
00:02:41,160 --> 00:02:45,600
Speaker 2: Michael might say nothing happened. I mean, the cash rates

51
00:02:45,600 --> 00:02:48,079
Speaker 2: stayed at four point three five percent, meaning most of

52
00:02:48,160 --> 00:02:49,960
Speaker 2: us are still paying six or seven percent on our

53
00:02:49,960 --> 00:02:54,520
Speaker 2: home loans. But he would not surprisingly be wrong. He

54
00:02:54,639 --> 00:02:56,800
Speaker 2: is wrong in all things economics except for last week.

55
00:02:57,880 --> 00:03:00,239
Speaker 2: Everything happened this week we found out, but that the

56
00:03:00,280 --> 00:03:02,799
Speaker 2: Reserve Bank is still worried about the labor market being

57
00:03:02,840 --> 00:03:07,280
Speaker 2: too tight. Ouch. What is the tight labor market? I

58
00:03:07,320 --> 00:03:12,160
Speaker 2: don't know. It's painful. That sounds very erotic, it do,

59
00:03:12,560 --> 00:03:15,240
Speaker 2: honey to you. They're also a little bit worried about

60
00:03:15,240 --> 00:03:18,240
Speaker 2: expansionary budgets, not just in Camera but in states as well.

61
00:03:18,440 --> 00:03:20,200
Speaker 2: Look at that Queensland budget we've got in the last

62
00:03:20,200 --> 00:03:23,160
Speaker 2: couple of weeks. That is expansionary. The Reserve Bank is

63
00:03:23,160 --> 00:03:25,640
Speaker 2: worried about a lack of productivity growth. It's worried about

64
00:03:25,800 --> 00:03:32,680
Speaker 2: sticky inflation, particularly sticky services inflation. The Bank's board even

65
00:03:32,760 --> 00:03:38,360
Speaker 2: talked about raising interest rates, yet n a sentence was spoken.

66
00:03:38,480 --> 00:03:41,520
Speaker 2: According to Reserve Bank Governor Michelle bullock ni sentence was

67
00:03:41,520 --> 00:03:45,320
Speaker 2: spoken about cutting rates. This hit bond markets. The Aussie

68
00:03:45,360 --> 00:03:48,640
Speaker 2: dollar it managed to clamber towards sixty seven US cents

69
00:03:48,840 --> 00:03:51,440
Speaker 2: hasn't been there for nearly six months. Interest rates have

70
00:03:51,560 --> 00:03:55,560
Speaker 2: significant political implications as well, with the latest polling showing

71
00:03:55,600 --> 00:03:57,960
Speaker 2: that the Coalition is more highly regarded when it comes

72
00:03:57,960 --> 00:04:01,320
Speaker 2: to managing the economy than Lay But in large part

73
00:04:01,400 --> 00:04:03,600
Speaker 2: that's a reflection of the cost of living crisis going on.

74
00:04:03,960 --> 00:04:06,920
Speaker 2: I'm sure Prime Minister Anthony Albanezi would love one or

75
00:04:06,960 --> 00:04:09,760
Speaker 2: two inches strate reductions ahead of the next federal poll

76
00:04:10,000 --> 00:04:13,000
Speaker 2: due before the end of May next year. But I

77
00:04:13,120 --> 00:04:17,640
Speaker 2: digress interest rates far and away the biggest story of

78
00:04:17,680 --> 00:04:18,039
Speaker 2: the week.

79
00:04:20,920 --> 00:04:25,479
Speaker 1: It's a work of fiction. There, Sean, you would know,

80
00:04:26,040 --> 00:04:29,360
Speaker 1: you would know the biggest story this week. It wasn't

81
00:04:29,400 --> 00:04:31,640
Speaker 1: about Martin Place, it wasn't about the Reserve Banker, wasn't

82
00:04:31,640 --> 00:04:35,440
Speaker 1: even about Parliament House. The biggest story this week was

83
00:04:35,480 --> 00:04:42,640
Speaker 1: about seven towns and locations around Australia nominated by Opposition

84
00:04:42,680 --> 00:04:47,640
Speaker 1: leader Peter Dutton as sites for Australia's first nuclear power plants.

85
00:04:47,960 --> 00:04:51,080
Speaker 1: And this is a story. It won't end this week.

86
00:04:51,440 --> 00:04:54,560
Speaker 1: This has now set the scene for a federal election

87
00:04:55,040 --> 00:05:00,600
Speaker 1: to be fought on energy. The coalition policy for five

88
00:05:00,760 --> 00:05:04,040
Speaker 1: large scale nuclear power plants and two small modular reactors,

89
00:05:04,040 --> 00:05:07,000
Speaker 1: all in operation by twenty fifty, the first by twenty

90
00:05:07,040 --> 00:05:09,800
Speaker 1: thirty five, twenty thirty seven, somewhere around their sites around

91
00:05:09,800 --> 00:05:13,760
Speaker 1: New South Wales, Victoria, Queensland, South Australia, Western Australia. This

92
00:05:13,880 --> 00:05:16,120
Speaker 1: is all encompassing, right, They're going to be part of

93
00:05:16,160 --> 00:05:19,400
Speaker 1: the energy mix with renewables and gas. As for the cost,

94
00:05:19,440 --> 00:05:24,760
Speaker 1: twelve don't really know do we details? Details, minor details,

95
00:05:24,760 --> 00:05:28,600
Speaker 1: irrelevant details. Really those details will come later, says the

96
00:05:29,000 --> 00:05:32,320
Speaker 1: opposition leader. That didn't go down too well, as you

97
00:05:32,320 --> 00:05:34,839
Speaker 1: can imagine. But the CSIO did point out last month

98
00:05:34,839 --> 00:05:36,920
Speaker 1: that the first nuclear plant would cost as much as

99
00:05:36,960 --> 00:05:39,880
Speaker 1: seventeen billion dollars, and then eight and a half billion

100
00:05:39,920 --> 00:05:42,560
Speaker 1: dollars for each one after that. The funny thing is

101
00:05:42,800 --> 00:05:46,440
Speaker 1: we actually started this week with Poles showing that Peter

102
00:05:46,560 --> 00:05:50,120
Speaker 1: Dutton is actually is in with a chance at the

103
00:05:50,120 --> 00:05:52,960
Speaker 1: next election. But what is then done here is pick

104
00:05:53,240 --> 00:05:59,080
Speaker 1: possibly the most controversial issue imaginable and chosen to fight

105
00:05:59,160 --> 00:06:03,400
Speaker 1: the election on app Is that a good idea? Maybe

106
00:06:03,720 --> 00:06:06,400
Speaker 1: I don't know. Maybe it's just brave, maybe it's bold,

107
00:06:06,520 --> 00:06:10,440
Speaker 1: maybe it's optimistic. Labor has hammered it predictably, including all

108
00:06:10,480 --> 00:06:13,320
Speaker 1: the states, all the state the labour state premiers. But

109
00:06:14,240 --> 00:06:17,680
Speaker 1: business also seems a little bit cool on the idea

110
00:06:18,000 --> 00:06:20,680
Speaker 1: as well, saying that with no delivery projected until the

111
00:06:20,680 --> 00:06:23,799
Speaker 1: middle of the next decade, it doesn't help with anything

112
00:06:23,800 --> 00:06:25,680
Speaker 1: in the short term, doesn't help with kind of short

113
00:06:25,760 --> 00:06:29,240
Speaker 1: term emissions reduction or the short term the cost of energy.

114
00:06:29,400 --> 00:06:32,400
Speaker 1: They're also wary about taxpayers footing the bill for these things.

115
00:06:32,800 --> 00:06:35,880
Speaker 1: There's a group of international investors, including Black Rock, flagging

116
00:06:35,920 --> 00:06:38,880
Speaker 1: concerns over the lack of certainty over energy policy. Now,

117
00:06:39,720 --> 00:06:42,160
Speaker 1: there will be a lot of kind of nimbiism over

118
00:06:42,200 --> 00:06:42,880
Speaker 1: this whole thing.

119
00:06:43,080 --> 00:06:46,640
Speaker 2: I mean, who doesn't want a nuclear reactor in their backyard?

120
00:06:46,640 --> 00:06:49,760
Speaker 1: Michael Well, Well, the funny thing is that I the

121
00:06:49,839 --> 00:06:53,240
Speaker 1: same wariness as others about living close to a nuclear reactor,

122
00:06:53,240 --> 00:06:55,400
Speaker 1: given that where I am in Sydney is just a

123
00:06:55,440 --> 00:07:01,880
Speaker 1: handful of kilometers from Australia's only existing reactor at Lucas Heights. Now, granted,

124
00:07:01,880 --> 00:07:04,560
Speaker 1: this is a reactor that's for research and nuclear medicine,

125
00:07:04,600 --> 00:07:06,840
Speaker 1: not for power, But still I don't exactly go to

126
00:07:06,839 --> 00:07:09,960
Speaker 1: sleep at night worrying about the three eyed fish. Remember

127
00:07:10,400 --> 00:07:12,920
Speaker 1: from the Simpsons Blinky, the three eyed fish turning up

128
00:07:12,920 --> 00:07:14,480
Speaker 1: in the river nearby. I'll tell you what we did

129
00:07:14,480 --> 00:07:16,720
Speaker 1: catch though, in the river nearby was a fish that

130
00:07:16,840 --> 00:07:19,520
Speaker 1: had both of its eyes on one side of the body.

131
00:07:19,560 --> 00:07:21,480
Speaker 1: Turns out as a flounder and it's meant to look

132
00:07:21,600 --> 00:07:24,000
Speaker 1: like that. So not blaming that one on nuclear medicine

133
00:07:24,040 --> 00:07:26,720
Speaker 1: or nuclear power at all. What I do think is

134
00:07:26,760 --> 00:07:29,160
Speaker 1: interesting here, though, is that we are going to have

135
00:07:29,320 --> 00:07:33,040
Speaker 1: a really, really topical debate now in this country. It's

136
00:07:33,080 --> 00:07:35,120
Speaker 1: hard to have a proper debate if you're not considering

137
00:07:35,160 --> 00:07:37,920
Speaker 1: all of the options. What this does is put nuclear

138
00:07:37,960 --> 00:07:41,320
Speaker 1: on the table, and because it's an election issue, the

139
00:07:41,400 --> 00:07:44,400
Speaker 1: people will decide. And I think that is good. I

140
00:07:44,400 --> 00:07:48,280
Speaker 1: think that's right. But this week this was the big

141
00:07:48,440 --> 00:07:52,120
Speaker 1: story and it will continue to be a monster of

142
00:07:52,200 --> 00:07:57,320
Speaker 1: a story right up until the election next year. Biggest

143
00:07:57,640 --> 00:08:02,480
Speaker 1: story of the week, Adam.

144
00:08:02,680 --> 00:08:05,960
Speaker 3: Wow, So both stories are not just big the massive

145
00:08:06,200 --> 00:08:11,080
Speaker 3: Michael in your parlance. So I actually loved the way

146
00:08:11,120 --> 00:08:14,080
Speaker 3: that Dutton changed the political narrative.

147
00:08:14,520 --> 00:08:18,320
Speaker 2: Courageous, I would say, courageous.

148
00:08:17,360 --> 00:08:22,360
Speaker 3: So courageous, very bold, minister, you know, just the way

149
00:08:22,440 --> 00:08:25,640
Speaker 3: because nuclear hasn't been an option in this country for

150
00:08:25,680 --> 00:08:27,720
Speaker 3: so long, Like we're fining to dig it up and

151
00:08:27,760 --> 00:08:29,920
Speaker 3: export it and for others to use it, but we

152
00:08:30,040 --> 00:08:33,240
Speaker 3: won't do the same ourselves. And so he's totally taken

153
00:08:33,280 --> 00:08:36,400
Speaker 3: the story and man made it his. And Michael, as

154
00:08:36,400 --> 00:08:41,040
Speaker 3: you said, around the polling about managing the economy, just

155
00:08:41,120 --> 00:08:44,280
Speaker 3: so interesting the way that the story has actually gone

156
00:08:44,360 --> 00:08:46,640
Speaker 3: his way. So I'd have to say, well played.

157
00:08:47,640 --> 00:08:49,560
Speaker 2: Can I just say something. I was the one that

158
00:08:49,640 --> 00:08:52,400
Speaker 2: talked about the polling and managing the economy, not Michael,

159
00:08:52,679 --> 00:08:54,520
Speaker 2: just adding that in well, I.

160
00:08:54,480 --> 00:08:57,320
Speaker 1: Brought up the polling that showed that he was going

161
00:08:57,400 --> 00:09:00,560
Speaker 1: to be an actual And I think, don't you think

162
00:09:00,600 --> 00:09:02,920
Speaker 1: that is quite remarkable that all of a sudden he's like, Hey,

163
00:09:02,960 --> 00:09:06,199
Speaker 1: I remember the chance here. Let's pick something really controversial

164
00:09:06,200 --> 00:09:08,360
Speaker 1: and see how that goes. Like, wouldn't you just go

165
00:09:08,480 --> 00:09:10,600
Speaker 1: you know what, I'm going to play it safe here.

166
00:09:10,960 --> 00:09:13,280
Speaker 1: The numbers show I'm actually with a chance. I'm just

167
00:09:13,400 --> 00:09:15,720
Speaker 1: going to focus on the things that I do best.

168
00:09:16,000 --> 00:09:20,280
Speaker 2: It is either brilliant or absolutely stupid.

169
00:09:20,840 --> 00:09:27,080
Speaker 3: Yeah, So in terms of economic impact. Sean's story has

170
00:09:27,200 --> 00:09:29,920
Speaker 3: to win. You know that around the world we're seeing,

171
00:09:30,280 --> 00:09:34,600
Speaker 3: you know, this continuing brittle story of where inflation is at.

172
00:09:35,200 --> 00:09:38,120
Speaker 3: You know, the UK is different to Europe, is different

173
00:09:38,120 --> 00:09:40,720
Speaker 3: to the US and Australia, and we'd love to hear

174
00:09:40,760 --> 00:09:42,880
Speaker 3: the Reserve Bank of Australia talk about, hey, there's a

175
00:09:42,960 --> 00:09:47,120
Speaker 3: path towards reducing interest rates. But there just isn't It's

176
00:09:47,160 --> 00:09:50,640
Speaker 3: not clear and so this story this week had to

177
00:09:50,679 --> 00:09:53,400
Speaker 3: be about interest rates for me, Sean wins.

178
00:09:53,440 --> 00:09:57,240
Speaker 1: Hey, I'm sorry. What the fact that they considered it

179
00:09:57,320 --> 00:10:01,880
Speaker 1: and dismissed it. I'm not I'm not questioning the judgment.

180
00:10:02,559 --> 00:10:04,319
Speaker 2: No, no, no, no, clearly not.

181
00:10:05,960 --> 00:10:09,920
Speaker 1: Goodness me. We need we need avenues for appeal here.

182
00:10:10,000 --> 00:10:13,040
Speaker 2: This is so I think, Michael, if you had put

183
00:10:13,040 --> 00:10:15,680
Speaker 2: that the most remarkable story, I think you would have

184
00:10:16,120 --> 00:10:16,720
Speaker 2: smashed it.

185
00:10:18,400 --> 00:10:25,800
Speaker 1: Speaking of which a most remarkable story, Look, I'm going

186
00:10:25,840 --> 00:10:29,160
Speaker 1: to stay close to home for my most remarkable story

187
00:10:29,200 --> 00:10:33,480
Speaker 1: in recent weeks. You know what, Adam, In recent weeks,

188
00:10:33,960 --> 00:10:39,120
Speaker 1: I've tried stories like Nvidia and Apple, and you know what, Adam,

189
00:10:39,480 --> 00:10:44,000
Speaker 1: You are right. It's not particularly remarkable, is it. It's

190
00:10:44,120 --> 00:10:47,560
Speaker 1: very predictable, It's on the other side of the world.

191
00:10:47,760 --> 00:10:49,120
Speaker 1: So let's forget more.

192
00:10:49,160 --> 00:10:51,319
Speaker 2: You can read between the lines.

193
00:10:51,080 --> 00:10:51,920
Speaker 3: Yes, I can.

194
00:10:52,400 --> 00:10:56,480
Speaker 1: Let's forget. Let's all unite on this and forget all

195
00:10:56,520 --> 00:10:59,920
Speaker 1: about the tech giants and let's look at a strap.

196
00:11:00,840 --> 00:11:05,320
Speaker 1: Because what was remarkable this week was what happened with

197
00:11:05,480 --> 00:11:08,880
Speaker 1: China and Australia. Here in Australia on our home turf,

198
00:11:09,160 --> 00:11:13,200
Speaker 1: China's Premier Lee Chung held talks here in Australia. Just

199
00:11:13,240 --> 00:11:16,319
Speaker 1: keep mentioning that here in Australia with Prime Minister Anthony Albernezi.

200
00:11:16,480 --> 00:11:20,120
Speaker 1: They were described as candid talks covering a whole lot

201
00:11:20,160 --> 00:11:22,960
Speaker 1: of different issues. Mister Lee said that the two countries

202
00:11:23,040 --> 00:11:26,599
Speaker 1: shelved our differences and could seek common ground and a

203
00:11:26,640 --> 00:11:29,199
Speaker 1: lot of good did come out of this. A lot

204
00:11:29,240 --> 00:11:33,400
Speaker 1: of tangible good came out of these talks, like streamlined

205
00:11:33,480 --> 00:11:39,000
Speaker 1: visa access between Australia and China, strengthening free trade, restoring

206
00:11:39,120 --> 00:11:43,400
Speaker 1: all avenues of government to government dialogue. Now that just

207
00:11:43,480 --> 00:11:47,080
Speaker 1: that one on its own, that in itself is remarkable.

208
00:11:47,640 --> 00:11:51,320
Speaker 1: It is remarkable when you think how bad it was

209
00:11:51,600 --> 00:11:54,840
Speaker 1: even three years ago, two years ago, when Australian ministers

210
00:11:55,040 --> 00:11:58,040
Speaker 1: would call their Chinese counterparts and the calls would just

211
00:11:58,080 --> 00:12:01,840
Speaker 1: go unanswered. So this is great for Australian business obviously

212
00:12:01,840 --> 00:12:04,400
Speaker 1: as well, with the Chinese premium visiting Penfolds for a

213
00:12:04,400 --> 00:12:07,040
Speaker 1: bit of grains diplomacy with the Boss of Treasury Wine Estates.

214
00:12:07,040 --> 00:12:10,680
Speaker 1: So we had big business involved here. But but what

215
00:12:10,800 --> 00:12:13,760
Speaker 1: I put to you both here today that what was

216
00:12:13,880 --> 00:12:20,320
Speaker 1: truly remarkable about this whole thing was the demonstration of

217
00:12:20,440 --> 00:12:25,959
Speaker 1: where our differences are still so pronounced. Because we had

218
00:12:26,000 --> 00:12:29,480
Speaker 1: Australian journalist Chung Lai, who was detained for three years

219
00:12:29,480 --> 00:12:33,320
Speaker 1: in China on national security grounds, attending the press conference

220
00:12:33,480 --> 00:12:37,400
Speaker 1: held by the leaders, and there in Canberra, in our

221
00:12:37,840 --> 00:12:43,079
Speaker 1: national capital, we had Chinese officials attempting to block her

222
00:12:43,160 --> 00:12:45,440
Speaker 1: from view, standing in a way so that she couldn't

223
00:12:45,440 --> 00:12:48,280
Speaker 1: be seen, couldn't be in the same photos as the

224
00:12:48,360 --> 00:12:51,520
Speaker 1: Chinese leader. It was so bad that the federal government

225
00:12:51,559 --> 00:12:54,120
Speaker 1: lodged a protest with the Chinese embassy the following day.

226
00:12:54,520 --> 00:12:57,000
Speaker 1: Don't you just think that that is remarkable that we

227
00:12:57,040 --> 00:12:59,679
Speaker 1: can make so much progress in just a few days,

228
00:12:59,679 --> 00:13:03,160
Speaker 1: with deductive meetings, real tangible outcomes in terms of our

229
00:13:03,200 --> 00:13:06,480
Speaker 1: relationship with China, and yet there are there are attempts

230
00:13:06,920 --> 00:13:11,240
Speaker 1: on Australian soil to stifle the freedom of the press.

231
00:13:11,960 --> 00:13:15,439
Speaker 1: I just find that completely remarkable. It is a remarkable

232
00:13:15,480 --> 00:13:19,840
Speaker 1: story and not a tech giants in sight Sean, what

233
00:13:19,880 --> 00:13:20,320
Speaker 1: have you got?

234
00:13:28,760 --> 00:13:33,000
Speaker 2: Well? I commend you for your melodrama, Michael, I do

235
00:13:33,800 --> 00:13:36,360
Speaker 2: thank you. I also command Adam for he's judging in

236
00:13:36,400 --> 00:13:40,360
Speaker 2: this category in recent weeks. I do, I truly do mean.

237
00:13:40,400 --> 00:13:45,000
Speaker 2: Michael has tried to pull one over you continually. He's

238
00:13:45,200 --> 00:13:48,080
Speaker 2: the same story. He's tried to brake you into giving

239
00:13:48,160 --> 00:13:51,679
Speaker 2: him a win when he's just telling the same story.

240
00:13:51,760 --> 00:13:57,080
Speaker 2: You know, he just guys on about you know, in Nvidia, Apple, Microsoft,

241
00:13:58,400 --> 00:14:02,640
Speaker 2: and you you have seen through his ruse. You have

242
00:14:03,360 --> 00:14:08,280
Speaker 2: stood tall. Your efforts in recent weeks is exactly why

243
00:14:08,280 --> 00:14:12,080
Speaker 2: I'm confident you will judge my story the most remarkable.

244
00:14:12,160 --> 00:14:16,800
Speaker 2: This week, sickening this week, Oh, because this is the

245
00:14:16,800 --> 00:14:23,680
Speaker 2: week to acknowledge the rise and rise of Nvidia. This week.

246
00:14:23,720 --> 00:14:25,440
Speaker 1: You could have seen this cost year.

247
00:14:25,560 --> 00:14:28,440
Speaker 2: In fact, it is probably this week's, this year's, this

248
00:14:28,600 --> 00:14:34,000
Speaker 2: decade's most incredible share market story. Of course, it's market

249
00:14:34,040 --> 00:14:38,440
Speaker 2: evaluation this week hit three point four trillion US dollars.

250
00:14:38,680 --> 00:14:43,720
Speaker 2: It became the most valuable stock in the world. Overtaking

251
00:14:43,760 --> 00:14:47,120
Speaker 2: those two has been Microsoft and Apple. It's all about

252
00:14:47,200 --> 00:14:50,880
Speaker 2: end bat, Nvidia and Nvidia. It's the US based chip maker.

253
00:14:51,360 --> 00:14:55,080
Speaker 2: It manufacturers like the brains for artificial intelligence. Debuted on

254
00:14:55,080 --> 00:14:59,440
Speaker 2: the Nasdaq in nineteen ninety nine, it made the S

255
00:14:59,480 --> 00:15:01,440
Speaker 2: and P five one hundred to top five hundred stocks.

256
00:15:01,440 --> 00:15:03,560
Speaker 2: Three years later, it actually took the place of Enron,

257
00:15:03,640 --> 00:15:05,920
Speaker 2: that disgraced oil training company. Nice little bit of history

258
00:15:05,920 --> 00:15:09,240
Speaker 2: there for you, Adam. Since then, of the top five

259
00:15:09,320 --> 00:15:11,320
Speaker 2: hundred of the S and P five hundred, it has

260
00:15:11,400 --> 00:15:14,760
Speaker 2: been the best performing stock on Wall Street. It's up

261
00:15:14,800 --> 00:15:17,040
Speaker 2: ten percent in the past five days, forty percent in

262
00:15:17,040 --> 00:15:18,720
Speaker 2: the last month, one hundred and seventy percent in the

263
00:15:18,760 --> 00:15:21,760
Speaker 2: past year, five hundred and ninety one thousand and seventy

264
00:15:21,800 --> 00:15:26,520
Speaker 2: eight percent. Since it's ipl Adam, If you invested one

265
00:15:26,520 --> 00:15:31,280
Speaker 2: thousand dollars in nineteen ninety nine, I've had a mathematician

266
00:15:31,360 --> 00:15:34,960
Speaker 2: do this for me. You've had stock splits, you've had

267
00:15:35,000 --> 00:15:37,560
Speaker 2: compound interest. Do you know how much it'd be worth today?

268
00:15:37,800 --> 00:15:42,640
Speaker 2: Tell us sean more than a million dollars. Oh, Warren Buffett,

269
00:15:42,680 --> 00:15:45,480
Speaker 2: suck on that. That's what I say. Warren this en

270
00:15:45,600 --> 00:15:48,120
Speaker 2: Vidia is what it's all. Yeah, No, I apologize, Warren

271
00:15:48,120 --> 00:15:52,200
Speaker 2: Buffett to investor of war time Nvidia. This is a

272
00:15:52,280 --> 00:15:55,640
Speaker 2: week that we celebrated three mind you three times in

273
00:15:55,640 --> 00:15:58,560
Speaker 2: his life. Ennvidia's share price has gone backwards by fifty

274
00:15:58,560 --> 00:16:01,040
Speaker 2: percent over twelve month periods. So it's not it hasn't

275
00:16:01,080 --> 00:16:03,320
Speaker 2: always been good, like there's some risk involved in that.

276
00:16:03,920 --> 00:16:08,080
Speaker 2: But this week Wall Street has a new king. Hail

277
00:16:08,160 --> 00:16:10,480
Speaker 2: the new King. It's time to give Nvidia the cutos

278
00:16:10,560 --> 00:16:15,400
Speaker 2: it richly deserves and wants. Finally, this week, in Vidia,

279
00:16:15,640 --> 00:16:17,920
Speaker 2: it's viewing Greed's most remarkable story.

280
00:16:19,080 --> 00:16:23,600
Speaker 3: Adam, Oh, So both are remarkable.

281
00:16:24,600 --> 00:16:26,120
Speaker 2: Well that's better than I've had to hope for.

282
00:16:29,320 --> 00:16:35,760
Speaker 3: Both are completely remarkable stories. And look in video to

283
00:16:35,840 --> 00:16:39,800
Speaker 3: me is just so incredible. It continues to be. And

284
00:16:40,200 --> 00:16:41,720
Speaker 3: I am actually at the point and I know I'm

285
00:16:41,800 --> 00:16:45,680
Speaker 3: not alone in terms of is there too much dependency here?

286
00:16:45,800 --> 00:16:50,000
Speaker 3: Like investors are looking for money to invest. There's not

287
00:16:50,200 --> 00:16:53,360
Speaker 3: that many places. We've had the magnificent seven shrinking down

288
00:16:53,360 --> 00:16:55,880
Speaker 3: to a smaller number than that. And inn Vidia has

289
00:16:55,960 --> 00:16:59,800
Speaker 3: been the story of this stuff. It is a continuing

290
00:17:00,080 --> 00:17:03,160
Speaker 3: remarkable story. I think I have to give it to

291
00:17:03,200 --> 00:17:06,920
Speaker 3: Michael this week and the fact that there's so many

292
00:17:06,960 --> 00:17:10,240
Speaker 3: things going on here Premier Lee Chung, it's the first

293
00:17:10,359 --> 00:17:15,240
Speaker 3: visit for some time of that nature. We've got grains,

294
00:17:15,280 --> 00:17:17,879
Speaker 3: diplomacy and press blocks. At the same time, there was

295
00:17:18,000 --> 00:17:21,400
Speaker 3: just so much going on with this story around the country.

296
00:17:21,760 --> 00:17:23,600
Speaker 3: So Michael, I just have to give this one to

297
00:17:23,640 --> 00:17:24,920
Speaker 3: you for remarkable story of the week.

298
00:17:25,600 --> 00:17:27,960
Speaker 2: Do you think do you think in twelve months time

299
00:17:28,000 --> 00:17:30,080
Speaker 2: we're going to be talking about remember that bloke from

300
00:17:30,119 --> 00:17:32,200
Speaker 2: China that came and saw what was his Prime minister's name,

301
00:17:32,200 --> 00:17:35,440
Speaker 2: Alba No, I think there's a reasonable chance.

302
00:17:36,280 --> 00:17:39,960
Speaker 3: And Sean and Michael Jensen Huang. Yeah, Now he has

303
00:17:40,080 --> 00:17:43,600
Speaker 3: become a leather jacket wearing rock star in the last

304
00:17:43,640 --> 00:17:46,440
Speaker 3: five years. He's an absolute celebrity.

305
00:17:46,480 --> 00:17:48,560
Speaker 2: Yeah, he's wort one hundred and sixteen billion.

306
00:17:48,680 --> 00:17:49,199
Speaker 1: Did you know that?

307
00:17:49,080 --> 00:17:49,199
Speaker 4: That?

308
00:17:49,400 --> 00:17:52,399
Speaker 2: Like the top certainly the top five and most of

309
00:17:52,440 --> 00:17:57,040
Speaker 2: the top ten individual shareholders in Nvidia, So we're not

310
00:17:57,080 --> 00:17:59,920
Speaker 2: talking about institutional shareholders like super funds. Of the individual

311
00:18:00,600 --> 00:18:02,400
Speaker 2: I think it's a top ten definitely. The top five

312
00:18:02,880 --> 00:18:05,800
Speaker 2: are all people who are on the board or work

313
00:18:05,840 --> 00:18:06,600
Speaker 2: at end Video.

314
00:18:07,200 --> 00:18:07,400
Speaker 3: Wow.

315
00:18:07,680 --> 00:18:10,400
Speaker 2: So cool. Yeah, so you've got all these people who

316
00:18:10,440 --> 00:18:12,240
Speaker 2: are phenomenally.

317
00:18:11,920 --> 00:18:13,880
Speaker 3: Does every board meeting start with a high five?

318
00:18:15,920 --> 00:18:16,600
Speaker 1: We're here up to.

319
00:18:17,760 --> 00:18:21,080
Speaker 2: Well, So there's like this guy, I think Mark Stevens's

320
00:18:21,160 --> 00:18:24,960
Speaker 2: name is. He's an Nvidia board member. He's got like

321
00:18:25,160 --> 00:18:27,880
Speaker 2: nine billion dollars worth or something rather and then you've

322
00:18:27,920 --> 00:18:30,480
Speaker 2: got like incredible, Yeah, it's pretty amazing.

323
00:18:30,920 --> 00:18:33,560
Speaker 1: God, every meeting would just be held remotely from their yachts.

324
00:18:34,280 --> 00:18:38,679
Speaker 3: It's just imagine waking up every day and feeling like, oh,

325
00:18:38,720 --> 00:18:40,600
Speaker 3: I've won the lottery again, look at that.

326
00:18:40,880 --> 00:18:44,639
Speaker 2: Yeah, so I remember that the CFO. I just I

327
00:18:44,680 --> 00:18:46,560
Speaker 2: can't remember a name. I'll try and google while I'm

328
00:18:46,560 --> 00:18:49,240
Speaker 2: talking to so she had like hundreds of millions of

329
00:18:49,240 --> 00:18:53,240
Speaker 2: dollars worth of stock and it was a full story.

330
00:18:53,359 --> 00:18:56,760
Speaker 2: And it's they said, how much of his son? It's

331
00:18:56,840 --> 00:18:59,240
Speaker 2: just a mere fifty million she's sold or something or other.

332
00:18:59,720 --> 00:19:02,800
Speaker 2: So I've got to hear colle it Cris Collet cres So.

333
00:19:02,920 --> 00:19:05,399
Speaker 2: Current value of Envideo shares seven hundred million. This is

334
00:19:05,400 --> 00:19:09,880
Speaker 2: from Forbes estimated cash from share sales fifty million. It's

335
00:19:09,920 --> 00:19:12,440
Speaker 2: like fifty million just for oh my god.

336
00:19:12,440 --> 00:19:17,240
Speaker 3: Yeah, just a casual Yeah, yeah, well done.

337
00:19:17,480 --> 00:19:19,880
Speaker 1: But you know what second most remarkable story of the week.

338
00:19:19,880 --> 00:19:22,280
Speaker 1: There we go. We'll take a quick break and we'll

339
00:19:22,280 --> 00:19:22,960
Speaker 1: come back to the.

340
00:19:23,000 --> 00:19:25,560
Speaker 2: Most remarkable story of the year. Second most remarkable story

341
00:19:25,600 --> 00:19:26,040
Speaker 2: this week.

342
00:19:26,240 --> 00:19:29,000
Speaker 1: Yeah, no, it's a judging anomaly, but we love those.

343
00:19:29,040 --> 00:19:29,240
Speaker 2: Here.

344
00:19:29,440 --> 00:19:31,240
Speaker 1: We'll come back in a moment with a sleeper story

345
00:19:31,240 --> 00:19:39,639
Speaker 1: of the week. All right, Sean, we're looking for the

346
00:19:39,840 --> 00:19:40,880
Speaker 1: sleeper story of the week.

347
00:19:40,880 --> 00:19:41,000
Speaker 4: Now.

348
00:19:41,080 --> 00:19:43,280
Speaker 1: Sleeper stories, of course, the story that's not getting the

349
00:19:43,320 --> 00:19:46,000
Speaker 1: attention that we feel it deserves, or in some cases

350
00:19:46,320 --> 00:19:49,200
Speaker 1: is going to become a bigger story further down the track.

351
00:19:49,359 --> 00:19:51,159
Speaker 1: And so you may go first.

352
00:19:51,640 --> 00:19:54,879
Speaker 2: My sleeper story is a national disgrace. No one is

353
00:19:54,920 --> 00:19:58,199
Speaker 2: talking about it because it would be extremely unpopular to

354
00:19:58,240 --> 00:20:01,359
Speaker 2: do so. Worse than nuclear power. This week, federal politicians

355
00:20:01,359 --> 00:20:03,800
Speaker 2: received a three and a half percent pay rise. What

356
00:20:03,960 --> 00:20:06,760
Speaker 2: really caught me off guard is how little they make.

357
00:20:06,840 --> 00:20:09,879
Speaker 2: I knew that they weren't well paid, but really, the

358
00:20:09,920 --> 00:20:12,800
Speaker 2: Prime Minister earned six hundred and seven thousand a year

359
00:20:12,840 --> 00:20:16,480
Speaker 2: to run the whole country. That's about sixty percent of

360
00:20:16,520 --> 00:20:19,480
Speaker 2: the highest paid federal bureaucrat who's the boss of the

361
00:20:19,520 --> 00:20:22,960
Speaker 2: Department of Prime Minister and Cabinet. It's about two percent

362
00:20:23,520 --> 00:20:25,880
Speaker 2: of what Shamara Wickremini yaka the boss of the Quarry

363
00:20:25,920 --> 00:20:29,400
Speaker 2: Group makes. Opposition Leader earns not much more than four

364
00:20:29,520 --> 00:20:31,560
Speaker 2: hundred thousand dollars. Yet these are the people.

365
00:20:31,920 --> 00:20:32,160
Speaker 1: I mean.

366
00:20:32,200 --> 00:20:34,439
Speaker 2: We criticize them, we break them, we laugh at them,

367
00:20:34,440 --> 00:20:37,480
Speaker 2: we snigger at the clothes they wear. But they've got

368
00:20:37,520 --> 00:20:39,600
Speaker 2: to spend months away from home. They carry the weight

369
00:20:39,640 --> 00:20:43,840
Speaker 2: of policy decisions and education, health, environment and everything, armed,

370
00:20:43,840 --> 00:20:47,760
Speaker 2: conflict detention centers, all sorts of stuff. Yep, they're famous,

371
00:20:48,560 --> 00:20:51,439
Speaker 2: but they ain't got much money. Now some have. Malcolm

372
00:20:51,480 --> 00:20:53,800
Speaker 2: Turnbull he had plenty of money. He was an investment

373
00:20:53,840 --> 00:20:57,520
Speaker 2: banker before he became Prime Minister. Kevin rad he had

374
00:20:57,520 --> 00:21:00,159
Speaker 2: plenty of money, mostly because his wife Treser, ran a

375
00:21:00,280 --> 00:21:04,719
Speaker 2: very successful business. But really, I don't reckon John Howard,

376
00:21:05,040 --> 00:21:07,920
Speaker 2: Tony Abbott, Julia Gillard. I don't reckon any of those

377
00:21:07,960 --> 00:21:11,480
Speaker 2: guys be particularly wealthy. I think it's time to give

378
00:21:11,520 --> 00:21:15,000
Speaker 2: them a competitive salary. Give the Prime minister five million bucks,

379
00:21:15,040 --> 00:21:18,440
Speaker 2: I say three million for the Opposition later leader. It's

380
00:21:18,480 --> 00:21:21,000
Speaker 2: not just about the money, it's actually about attracting higher

381
00:21:21,080 --> 00:21:25,960
Speaker 2: quality candidates to run the country. I get that politics

382
00:21:26,040 --> 00:21:29,080
Speaker 2: is a calling or a vocation, but maybe more money

383
00:21:29,600 --> 00:21:33,720
Speaker 2: might help attract a broader range of Australians to the

384
00:21:33,720 --> 00:21:38,200
Speaker 2: call of politics. We need to start something here because

385
00:21:39,400 --> 00:21:41,600
Speaker 2: let's face it's not going to go anywhere. But in

386
00:21:41,640 --> 00:21:45,040
Speaker 2: the US you often find leaders of industry make their

387
00:21:45,040 --> 00:21:48,280
Speaker 2: money and then they go into politics, and I just

388
00:21:48,280 --> 00:21:50,560
Speaker 2: think in Australia we need to change it so it

389
00:21:50,600 --> 00:21:54,240
Speaker 2: makes it worthwhile financially worthwhile to go into politics. Could

390
00:21:54,240 --> 00:21:56,720
Speaker 2: you imagine if the pool of people wanting to go

391
00:21:56,760 --> 00:22:00,480
Speaker 2: into politics was twice the size or trip the size

392
00:22:00,560 --> 00:22:04,280
Speaker 2: would have much much better leadership. I just we'm not

393
00:22:04,359 --> 00:22:07,080
Speaker 2: talking about it, probably never will. Hence a very very

394
00:22:07,080 --> 00:22:09,280
Speaker 2: good sleeper story. But the actually thing is important that

395
00:22:09,320 --> 00:22:13,760
Speaker 2: we up the pay of Polley's. Yeah, not a word

396
00:22:13,800 --> 00:22:16,320
Speaker 2: from you two on that, just absolutely.

397
00:22:16,320 --> 00:22:19,000
Speaker 3: I'm just respectful. Difference with Sean.

398
00:22:20,000 --> 00:22:21,080
Speaker 1: I had a snooze.

399
00:22:21,280 --> 00:22:26,000
Speaker 2: No no, no, no.

400
00:22:26,000 --> 00:22:28,440
Speaker 1: You're all right, you do well. I've got a really

401
00:22:28,440 --> 00:22:30,440
Speaker 1: good sleeper story. I know that yours is good, Sean,

402
00:22:30,480 --> 00:22:32,520
Speaker 1: but I've got a great sleeper story. And you know

403
00:22:32,560 --> 00:22:35,119
Speaker 1: why it's particularly good this week. It's because I've commissioned

404
00:22:35,160 --> 00:22:39,080
Speaker 1: some exclusive fear and greed research to bolster my case.

405
00:22:39,119 --> 00:22:41,400
Speaker 1: I'll get to that in a minute. There are changes.

406
00:22:41,680 --> 00:22:45,199
Speaker 1: There are changes coming to the buy in our pay

407
00:22:45,280 --> 00:22:48,000
Speaker 1: later sector. Now, this is big business in Australia and

408
00:22:48,040 --> 00:22:51,679
Speaker 1: it's getting bigger. Currently, the Reserve Bank says buy now,

409
00:22:51,680 --> 00:22:53,840
Speaker 1: pay later is worth about twenty billion dollars a year.

410
00:22:54,520 --> 00:22:56,720
Speaker 1: Operators like after Pay and Zip and a whole bunch

411
00:22:56,720 --> 00:22:59,200
Speaker 1: of others charging retailers a fee about three and a

412
00:22:59,240 --> 00:23:02,840
Speaker 1: half percent under the current rules, though retailers can't pass

413
00:23:02,880 --> 00:23:06,720
Speaker 1: that directly on to the customer. They can and do

414
00:23:06,880 --> 00:23:10,920
Speaker 1: pass on surcharges for debit cards and credit cards zero

415
00:23:10,920 --> 00:23:13,120
Speaker 1: point four percent and zero point eight percent. But it's

416
00:23:13,160 --> 00:23:18,840
Speaker 1: really not a level playing field, is it. No no, no, no, no.

417
00:23:19,119 --> 00:23:19,359
Speaker 2: It's not.

418
00:23:19,680 --> 00:23:23,000
Speaker 1: It's not, well asked Michael, and well answered as well.

419
00:23:23,320 --> 00:23:27,359
Speaker 1: And the Reserve Bank has this week signaled kind of

420
00:23:27,440 --> 00:23:29,360
Speaker 1: in the loose kind of way that the Reserve Bank

421
00:23:29,400 --> 00:23:32,600
Speaker 1: may signal things regulation of the sector. And you can

422
00:23:32,720 --> 00:23:37,400
Speaker 1: bet your bottom dollar that one of the recommendations will

423
00:23:37,440 --> 00:23:41,120
Speaker 1: be allowing retailers to directly pass on those charges rather

424
00:23:41,160 --> 00:23:43,240
Speaker 1: than just having to kind of absorb them and work

425
00:23:43,280 --> 00:23:46,000
Speaker 1: them into their overall pricing model. So stand by for

426
00:23:46,080 --> 00:23:49,720
Speaker 1: that one, because when that happens the sleeper story is

427
00:23:49,720 --> 00:23:53,040
Speaker 1: going to wake up a little. But wait, hold on

428
00:23:53,119 --> 00:23:56,960
Speaker 1: to your hat, your pants, your socks, every item of

429
00:23:56,960 --> 00:24:00,560
Speaker 1: clothing you've got on, because this gets bigger. I've done

430
00:24:00,600 --> 00:24:04,200
Speaker 1: a little bit of research, not using ipsos or or

431
00:24:04,320 --> 00:24:07,560
Speaker 1: news poll or Roy Morgan or any of those survey bodies.

432
00:24:07,480 --> 00:24:09,480
Speaker 2: Any credible survey bodies.

433
00:24:09,640 --> 00:24:13,280
Speaker 1: Instead, the man of the people went to where the

434
00:24:13,400 --> 00:24:14,080
Speaker 1: people are?

435
00:24:14,240 --> 00:24:16,280
Speaker 3: Did you go to the streets, Michael No.

436
00:24:16,359 --> 00:24:19,560
Speaker 1: I went to TikTok Adam. This is twenty twenty four,

437
00:24:21,000 --> 00:24:25,720
Speaker 1: and I asked the question, would you use buy now,

438
00:24:25,800 --> 00:24:29,280
Speaker 1: pay later if you had to pay a surcharge? And

439
00:24:29,359 --> 00:24:32,560
Speaker 1: let me just read some of the responses. Gaslight Queen

440
00:24:33,080 --> 00:24:40,960
Speaker 1: said no. Cooper Cooper with a little Australian flag next

441
00:24:41,000 --> 00:24:46,520
Speaker 1: to his name, said nope. Unknown three six' five said.

442
00:24:47,160 --> 00:24:53,640
Speaker 1: No fear blank also said. No an anonymous love heart

443
00:24:53,640 --> 00:25:01,560
Speaker 1: emoji said, no and that and that it's absolute insightful

444
00:25:02,040 --> 00:25:07,880
Speaker 1: and that is just a, taste but it is, unanimous small,

445
00:25:07,920 --> 00:25:12,280
Speaker 1: SAMPLE i, know but what this. Says what this says

446
00:25:13,119 --> 00:25:17,160
Speaker 1: is that customers will have a real problem if they

447
00:25:17,240 --> 00:25:19,280
Speaker 1: have to pay a search arge for buying our pay.

448
00:25:19,359 --> 00:25:22,280
Speaker 1: Later SO i hope you're listening After. PAY i hope

449
00:25:22,280 --> 00:25:25,560
Speaker 1: you're Listening zip and the rest BECAUSE i have done

450
00:25:25,600 --> 00:25:30,560
Speaker 1: you a service, Here brace. Yourselves this is going to be.

451
00:25:31,200 --> 00:25:37,200
Speaker 1: Big it is the sleeper story of the. Century slight

452
00:25:37,280 --> 00:25:39,280
Speaker 1: over each there at the, end but you know it's pretty.

453
00:25:39,280 --> 00:25:45,560
Speaker 3: Big good points for. Melodrama both excellent sleeper. Stories actually

454
00:25:45,600 --> 00:25:49,480
Speaker 3: the buy, now pay later. Market we've been part of

455
00:25:49,520 --> 00:25:52,359
Speaker 3: that in The australian companies that have been. Involved After

456
00:25:52,400 --> 00:25:57,640
Speaker 3: pay a great success, story so it's significant in. RETAIL i, think, Though,

457
00:25:57,720 --> 00:26:05,320
Speaker 3: sean while both stories reform, related WHICH i applaud, immensely your,

458
00:26:05,440 --> 00:26:10,960
Speaker 3: story to me is a bigger sleeper story because no one's.

459
00:26:10,840 --> 00:26:14,320
Speaker 2: Talking about it deep deeper sleep.

460
00:26:15,760 --> 00:26:21,040
Speaker 1: Opinion mine's got real research behind. It what AM i

461
00:26:21,040 --> 00:26:24,040
Speaker 1: supposed to say at a gas? Light? Queen AND i can

462
00:26:24,160 --> 00:26:27,320
Speaker 1: cooper with The australian, Flag, yeah anonymous love heart.

463
00:26:27,359 --> 00:26:32,760
Speaker 3: Emoji SO i think politicians pay an, issue and in two.

464
00:26:32,800 --> 00:26:36,119
Speaker 3: Ways one is the annual salary is only part of.

465
00:26:36,119 --> 00:26:39,120
Speaker 3: It they also get this different arrangement for what they

466
00:26:39,160 --> 00:26:41,639
Speaker 3: get after they leave, office depending on how long they,

467
00:26:41,720 --> 00:26:44,919
Speaker 3: serve what roles they, play and so it's not just

468
00:26:45,000 --> 00:26:47,600
Speaker 3: the annual salary that counts it's how much they get

469
00:26:47,640 --> 00:26:51,240
Speaker 3: paid over, time AND i don't think that that is fully.

470
00:26:51,280 --> 00:26:54,520
Speaker 3: DISCLOSED i think it should be the second. Thing and

471
00:26:54,600 --> 00:26:57,280
Speaker 3: really you can't TELL i know too much about this.

472
00:26:57,480 --> 00:27:01,040
Speaker 3: Stuff don't know is THAT i don't think we pay them.

473
00:27:01,119 --> 00:27:03,760
Speaker 3: ENOUGH i do agree with, You. SEAN i think the

474
00:27:03,800 --> 00:27:06,399
Speaker 3: sacrifices they may being away from their, family they're virtually

475
00:27:06,400 --> 00:27:10,040
Speaker 3: on twenty four to. Seven it is an incredibly demanding,

476
00:27:10,119 --> 00:27:13,520
Speaker 3: task and there's the compromise after they leave office Of

477
00:27:13,720 --> 00:27:16,400
Speaker 3: oh look look who rolls up in a diplomatic, post

478
00:27:16,480 --> 00:27:19,000
Speaker 3: or look who ends up on boards of. Companies you,

479
00:27:19,040 --> 00:27:21,480
Speaker 3: KNOW i think if we paid better salaries and just

480
00:27:21,520 --> 00:27:24,840
Speaker 3: had different rules around, service that we would get a

481
00:27:24,840 --> 00:27:28,080
Speaker 3: better approach to. Politics and SO i really think it's

482
00:27:28,080 --> 00:27:28,360
Speaker 3: a great.

483
00:27:28,359 --> 00:27:34,840
Speaker 2: Story well read between the. Lines thank you two to.

484
00:27:34,880 --> 00:27:36,159
Speaker 2: One this is.

485
00:27:36,720 --> 00:27:43,640
Speaker 1: Extraordinary suddenly opinions count for sleeper. Stories you have opened

486
00:27:43,640 --> 00:27:49,480
Speaker 1: this up enormal effective bias is, objective a straight up.

487
00:27:49,600 --> 00:27:51,400
Speaker 1: Opinion no one likes to saw.

488
00:27:51,440 --> 00:27:52,680
Speaker 2: Loser Michael, WELL.

489
00:27:52,880 --> 00:27:55,119
Speaker 1: I, Know i'm happy for, You. Sean i'm sorry if

490
00:27:55,119 --> 00:27:57,920
Speaker 1: that didn't come. Across i'm very pleased for. You favorite

491
00:27:57,960 --> 00:28:01,239
Speaker 1: story of the week about it about? You BUT i

492
00:28:01,280 --> 00:28:08,240
Speaker 1: love a good business success story and this why are you?

493
00:28:08,320 --> 00:28:10,920
Speaker 3: Laughing go, On, Michael, well this week we had a good.

494
00:28:10,960 --> 00:28:14,879
Speaker 1: One i'm just let's just let's put all the melodrama

495
00:28:14,880 --> 00:28:16,200
Speaker 1: to one. Side let's just talk.

496
00:28:16,280 --> 00:28:16,919
Speaker 2: Normally for.

497
00:28:17,000 --> 00:28:20,679
Speaker 1: Once we had a good business, story good great business success.

498
00:28:20,680 --> 00:28:22,920
Speaker 1: Story what's even better about it is that it gives.

499
00:28:23,040 --> 00:28:26,920
Speaker 1: Hope it gives hope for other companies looking to list

500
00:28:27,080 --> 00:28:31,000
Speaker 1: on THE Asx mexican restaurant. CHAIN Guzmani gomez hit the

501
00:28:31,000 --> 00:28:34,080
Speaker 1: boss this, week and didn't it just take? Off absolute

502
00:28:34,160 --> 00:28:37,119
Speaker 1: CRACKER ipo price is twenty two, dollars went straight to

503
00:28:37,200 --> 00:28:39,200
Speaker 1: thirty bucks a, share and that's where it closed at

504
00:28:39,200 --> 00:28:43,960
Speaker 1: the end of day. One, wow what a, Story what a.

505
00:28:44,040 --> 00:28:44,240
Speaker 4: Day.

506
00:28:44,440 --> 00:28:46,800
Speaker 1: Huh took the market cap of the business to more

507
00:28:46,840 --> 00:28:50,520
Speaker 1: than three billion, dollars making it the BIGGEST ipo in years.

508
00:28:50,600 --> 00:28:53,479
Speaker 1: Now there were plenty of people a bit wary of this,

509
00:28:53,520 --> 00:28:56,440
Speaker 1: one questioning whether it was a bit, expensive and time

510
00:28:56,440 --> 00:28:59,000
Speaker 1: will obviously tell as to whether or not stain that,

511
00:28:59,080 --> 00:29:03,600
Speaker 1: value drove drop. Grow there's a bit of optimism, though

512
00:29:03,640 --> 00:29:05,920
Speaker 1: And i'll defer To Roger montgomery on this. ONE a

513
00:29:05,920 --> 00:29:07,920
Speaker 1: good supporter of this podcast provided me with a bit

514
00:29:07,920 --> 00:29:10,680
Speaker 1: of analysis in the same way that That Stephen cocolas

515
00:29:10,720 --> 00:29:14,600
Speaker 1: did last week when we were you've.

516
00:29:14,480 --> 00:29:18,920
Speaker 3: Been getting, Help, Michael, well, no no. Insight, YES i

517
00:29:18,960 --> 00:29:19,600
Speaker 3: do defer to the.

518
00:29:19,640 --> 00:29:23,000
Speaker 1: Experts, REALLY i would never claim to know it. All

519
00:29:23,560 --> 00:29:27,920
Speaker 1: ACTUALLY i Think i've. Red but he did point. Out

520
00:29:28,040 --> 00:29:30,880
Speaker 1: he pointed out that management have demonstrated an ability to

521
00:29:30,960 --> 00:29:34,040
Speaker 1: roll out highly profitable stores, quickly with a restaurant costing

522
00:29:34,080 --> 00:29:36,240
Speaker 1: two million dollars to set up and generating one point

523
00:29:36,320 --> 00:29:39,280
Speaker 1: one million dollars of annual. Earnings and combine that with

524
00:29:39,320 --> 00:29:41,520
Speaker 1: the plans to quickly grow the existing one hundred and

525
00:29:41,600 --> 00:29:45,360
Speaker 1: eighty five stores already operating In australia thirty more per

526
00:29:45,440 --> 00:29:48,680
Speaker 1: year than forty per year until they hit a thousand In.

527
00:29:48,760 --> 00:29:54,040
Speaker 1: Australia this company with some, big big. Goals but deferring

528
00:29:54,080 --> 00:29:57,680
Speaker 1: to another, expert an expert in the room, now As

529
00:29:57,720 --> 00:30:00,920
Speaker 1: Sean aylmer told us last, week there's been a real

530
00:30:01,000 --> 00:30:05,160
Speaker 1: lack OF ipo activity on THE asx. Lately what was

531
00:30:05,200 --> 00:30:07,720
Speaker 1: it last year there was forty five and usually there's

532
00:30:07,720 --> 00:30:10,840
Speaker 1: about one hundred and twenty or, so and we all lamented.

533
00:30:10,840 --> 00:30:13,200
Speaker 1: That we all said, together we, said, oh what a.

534
00:30:13,240 --> 00:30:18,600
Speaker 1: Shame what could possibly turn this around the success of

535
00:30:18,800 --> 00:30:23,120
Speaker 1: Goosminy gomez may just be the injection of spice that

536
00:30:23,200 --> 00:30:27,760
Speaker 1: the local boss needs to get a few more companies lining.

537
00:30:27,880 --> 00:30:30,440
Speaker 1: Up it is, just you know, What no melodrama. Needed

538
00:30:30,480 --> 00:30:34,280
Speaker 1: it is a good story all. ROUND i do have

539
00:30:34,280 --> 00:30:41,280
Speaker 1: one little, gripe one, tiny go on insignificant little. Gripe

540
00:30:41,120 --> 00:30:45,200
Speaker 1: one Of Goozmini gomez competitors is a company called Mad. Mechs,

541
00:30:45,680 --> 00:30:50,320
Speaker 1: RIGHT i would love gyg to do What Mad mex

542
00:30:50,400 --> 00:30:54,640
Speaker 1: does on occasion and introduce a one killogram burrito that

543
00:30:54,720 --> 00:30:57,960
Speaker 1: you can do as an eating, challenge and if you

544
00:30:58,080 --> 00:31:00,320
Speaker 1: eat it all in a certain amount of, time you

545
00:31:00,360 --> 00:31:03,000
Speaker 1: get A mexican wrestler. Mask AND i got one of

546
00:31:03,000 --> 00:31:07,080
Speaker 1: those wrestler wrestler masks From Mad. Mex that's good AND

547
00:31:07,120 --> 00:31:09,400
Speaker 1: i would love to do it again because there's nothing

548
00:31:09,400 --> 00:31:12,440
Speaker 1: more satisfying than a one kil. Obree when did you eat?

549
00:31:12,520 --> 00:31:15,800
Speaker 1: That oh that was a couple of years. AGO i

550
00:31:15,880 --> 00:31:17,600
Speaker 1: love a good eating. CHALLENGE i told you about the

551
00:31:17,640 --> 00:31:20,600
Speaker 1: kilo steak and double serving of chips THAT i got

552
00:31:21,160 --> 00:31:23,160
Speaker 1: ate at all and then walked outside and vomited all

553
00:31:23,200 --> 00:31:26,120
Speaker 1: into the. Gutter BUT i got outside the, restaurant so

554
00:31:26,120 --> 00:31:27,880
Speaker 1: it still, counted so my name still went on the.

555
00:31:27,920 --> 00:31:31,520
Speaker 1: Wall there you. Go that is another success. Story, sean

556
00:31:31,560 --> 00:31:32,160
Speaker 1: what's your favorite?

557
00:31:32,160 --> 00:31:34,120
Speaker 2: Story i'd just like to add to your sorry just

558
00:31:34,120 --> 00:31:36,640
Speaker 2: a little, bit because we're not an investment, podcast and

559
00:31:36,680 --> 00:31:39,720
Speaker 2: there's all sorts of people saying That guzman is training

560
00:31:39,920 --> 00:31:43,120
Speaker 2: at a at a an earnings, multiple a forecast earnings,

561
00:31:43,160 --> 00:31:46,959
Speaker 2: multiple way above other fast food restaurants Like domino's And

562
00:31:47,000 --> 00:31:49,440
Speaker 2: Collins foods and stuff like. That so just if you

563
00:31:49,480 --> 00:31:51,480
Speaker 2: are thinking about investing in, goodsman go and see a

564
00:31:51,520 --> 00:31:54,720
Speaker 2: financial Advice i'm just adding, That, MICHAEL i know you

565
00:31:54,800 --> 00:31:58,200
Speaker 2: love a good business. Story, however they's ad That my

566
00:31:59,000 --> 00:32:03,320
Speaker 2: favorite story this week comes From Consumer Group choice because

567
00:32:03,360 --> 00:32:06,120
Speaker 2: it helps all of us with the cost of living.

568
00:32:06,160 --> 00:32:10,360
Speaker 2: Crisis the federal government's funding choice to do quarterly shopping

569
00:32:10,360 --> 00:32:13,280
Speaker 2: reviews over three years to compare prices between the big super.

570
00:32:13,320 --> 00:32:16,240
Speaker 2: Markets this, week they found out that shopping and aldi

571
00:32:16,320 --> 00:32:20,760
Speaker 2: can save customers about twenty five percent compared to buying

572
00:32:20,760 --> 00:32:23,640
Speaker 2: At coals And. Woolies based on a basket of fourteen

573
00:32:23,680 --> 00:32:29,440
Speaker 2: commonly bought grocery items think, milk, bread, sugar, pasta, tea fresh,

574
00:32:29,440 --> 00:32:33,520
Speaker 2: fruit and vegs stuff like. That choice used undercover, shoppers

575
00:32:33,720 --> 00:32:37,680
Speaker 2: which in itself is fantastic undercover shoppers to record prices

576
00:32:37,680 --> 00:32:40,840
Speaker 2: from eighty one serper. MARKETS a FEW IgA stores were

577
00:32:40,840 --> 00:32:43,000
Speaker 2: in there as. Well the cost At aldi was fifty

578
00:32:43,040 --> 00:32:47,280
Speaker 2: one dollars and fifty one, cents At woolli's sixty eight

579
00:32:47,560 --> 00:32:50,160
Speaker 2: dollars and fifty eight, cents and At coal's sixty nine

580
00:32:50,200 --> 00:32:54,080
Speaker 2: dollars and thirty three. Cents, now there were some specials At,

581
00:32:54,080 --> 00:32:56,440
Speaker 2: woolie SO i actually think you should apply the specials

582
00:32:56,440 --> 00:32:59,760
Speaker 2: because it's just a point in. Time So aldi was

583
00:32:59,760 --> 00:33:03,480
Speaker 2: fifty one one including. Specials woolies was sixty four to ninety.

584
00:33:03,480 --> 00:33:06,160
Speaker 2: Three coals was still the same at sixty nine thirty. Three,

585
00:33:06,440 --> 00:33:10,080
Speaker 2: Broadly aldi's, cheapest not much difference Between woolies And. Coals

586
00:33:10,880 --> 00:33:13,520
Speaker 2: data on is a bit, scarce and ij it's a bit.

587
00:33:13,920 --> 00:33:16,480
Speaker 2: Rough including that because most of THE ida stores were

588
00:33:16,480 --> 00:33:19,440
Speaker 2: in places Like tasmania And Northern territory where there's less,

589
00:33:19,480 --> 00:33:22,640
Speaker 2: Competition aldi seemed a bit more. Expensive but the big

590
00:33:22,640 --> 00:33:26,040
Speaker 2: caveat on. That WHAT i like is not just the,

591
00:33:26,080 --> 00:33:29,280
Speaker 2: findings it's what the findings mean for consumers under cost

592
00:33:29,360 --> 00:33:32,440
Speaker 2: of living pressure and how the retailers themselves will. React

593
00:33:33,080 --> 00:33:36,280
Speaker 2: our household this weekend will shop At aldi on the

594
00:33:36,280 --> 00:33:38,960
Speaker 2: back of. This normally we're A woolies, family But jack

595
00:33:39,000 --> 00:33:41,080
Speaker 2: AND i have agreed we'll drive the extra colminate to

596
00:33:41,080 --> 00:33:45,280
Speaker 2: Buy aldi because twenty five percent it's a huge. Discount

597
00:33:45,720 --> 00:33:48,800
Speaker 2: plenty of others will do the same knowing al these

598
00:33:48,840 --> 00:33:51,680
Speaker 2: twenty five percent Cheaper woolies and coals have to. React

599
00:33:51,920 --> 00:33:54,719
Speaker 2: they can't get the publicity they've got this week and ignore.

600
00:33:54,720 --> 00:33:58,280
Speaker 2: It the fact that the government is funding the research

601
00:33:58,480 --> 00:34:02,240
Speaker 2: also gives the choice work much more. Credibility this research

602
00:34:02,280 --> 00:34:06,680
Speaker 2: improves transparency across gracery, prices good for. Customers this Week's

603
00:34:06,680 --> 00:34:10,360
Speaker 2: Saturday aldi also includes reclaimed. Wood bedside tables must have

604
00:34:10,400 --> 00:34:13,640
Speaker 2: electrical power meters as, well so obviously an extra. MONEY i,

605
00:34:13,640 --> 00:34:17,920
Speaker 2: Say i'll be buying that's the. Stuff but you get my.

606
00:34:18,040 --> 00:34:21,440
Speaker 2: GIST i like this story because this is actually transparency at.

607
00:34:21,480 --> 00:34:24,839
Speaker 2: Work how to government inquiry government set. Up it's sort

608
00:34:24,840 --> 00:34:28,160
Speaker 2: of a mechanism for retailers to be more. Transparent this

609
00:34:28,160 --> 00:34:29,799
Speaker 2: will put pressure on all is In colster to drop.

610
00:34:29,840 --> 00:34:31,200
Speaker 2: Prices great, Story.

611
00:34:31,280 --> 00:34:35,719
Speaker 3: Adam both are brilliant favorite stories and they're both to

612
00:34:35,840 --> 00:34:39,759
Speaker 3: me related to, brands So Goods Many, gomez what a

613
00:34:39,800 --> 00:34:43,200
Speaker 3: fantastic job they've done in building a, brand you, know

614
00:34:43,280 --> 00:34:47,040
Speaker 3: to create the valuation that they. Have it's quite incredible

615
00:34:47,760 --> 00:34:51,759
Speaker 3: and a very Worthy favorite story choice is also a

616
00:34:51,800 --> 00:34:55,080
Speaker 3: massive winner shown from your. STORY i think they've built

617
00:34:55,120 --> 00:34:58,360
Speaker 3: their brand by doing this very credible, work you, know

618
00:34:58,480 --> 00:35:02,440
Speaker 3: the undercover, operations under cover. SHOPPERS i love the intrigue about.

619
00:35:02,440 --> 00:35:06,640
Speaker 3: It so, LOOK i think they're both fantastic stories for favorite, Category,

620
00:35:08,239 --> 00:35:09,960
Speaker 3: sean you just win this.

621
00:35:10,000 --> 00:35:12,480
Speaker 2: One it Is, God, God i'm feeling.

622
00:35:12,520 --> 00:35:18,080
Speaker 1: Good, adam did you did you mean to? Say? Michael

623
00:35:19,480 --> 00:35:19,799
Speaker 1: was it an?

624
00:35:19,800 --> 00:35:25,200
Speaker 3: Accident the impact Of, groceres the economic impact is obviously

625
00:35:25,600 --> 00:35:30,399
Speaker 3: huge with the supermarkets And Goods Many gomez is by

626
00:35:30,440 --> 00:35:35,040
Speaker 3: definition a relatively narrower range of people affected. Economically SO

627
00:35:36,000 --> 00:35:38,320
Speaker 3: i think the choice survey has to win For favorite

628
00:35:38,320 --> 00:35:38,719
Speaker 3: story of the.

629
00:35:38,719 --> 00:35:40,719
Speaker 1: Week it's been a while Since i've called for a,

630
00:35:40,760 --> 00:35:45,400
Speaker 1: coup but, seriously at, least rise, Up rise. Up this is.

631
00:35:45,400 --> 00:35:48,319
Speaker 1: Outrageous all, right three to, one very quickly give us the,

632
00:35:48,320 --> 00:35:50,719
Speaker 1: overall give us the scot all.

633
00:35:50,840 --> 00:35:53,120
Speaker 3: Right michael eighty eight, Points sean ninety one.

634
00:35:53,160 --> 00:35:57,840
Speaker 2: POINTS i love how you can win three, one and

635
00:35:57,920 --> 00:35:58,839
Speaker 2: there's a couple of points.

636
00:35:58,880 --> 00:36:00,560
Speaker 1: BETWEEN i, KNOW hi quality.

637
00:36:00,600 --> 00:36:06,000
Speaker 3: Battle it FEELS i wonder IF i should do like

638
00:36:06,040 --> 00:36:07,920
Speaker 3: a twenty twenty four like at the end of the

639
00:36:08,000 --> 00:36:10,720
Speaker 3: year to sum up all the, scores not just the story.

640
00:36:10,760 --> 00:36:14,880
Speaker 1: Count nuh, no, definitely not considering every single one of

641
00:36:15,120 --> 00:36:17,799
Speaker 1: like three points, behind and you multiply that across kind

642
00:36:17,840 --> 00:36:18,280
Speaker 1: of fifty.

643
00:36:18,320 --> 00:36:22,040
Speaker 3: Weeks that's that's you're dead even on the story count last,

644
00:36:22,080 --> 00:36:24,080
Speaker 3: week And, michael you won the week.

645
00:36:24,120 --> 00:36:27,560
Speaker 1: Before, okay Maybe i'm open to.

646
00:36:27,600 --> 00:36:30,200
Speaker 3: It all, Right thank you very, Much, adam thank You,

647
00:36:30,239 --> 00:36:31,160
Speaker 3: michael and thank You.

648
00:36:31,200 --> 00:36:34,080
Speaker 1: Sean Thanks. Michael make sure you're following the, podcast and

649
00:36:34,120 --> 00:36:38,480
Speaker 1: please join us online On, LinkedIn, instagram, TikTok, facebook AND.

650
00:36:38,760 --> 00:36:40,959
Speaker 1: X I'm Michael. Thompson and that Was fear And. Greed

651
00:36:41,239 --> 00:36:42,040
Speaker 1: have a great. Weekend