1 00:00:02,960 --> 00:00:06,000 Speaker 1: It's Tuesday, the seventh of October twenty twenty five. Welcome 2 00:00:06,080 --> 00:00:08,280 Speaker 1: to the Fast five by Fear and Greed, where we 3 00:00:08,320 --> 00:00:10,400 Speaker 1: give you the top five business stories you need to 4 00:00:10,440 --> 00:00:13,800 Speaker 1: know in just five minutes. I'm Adam Lang and good morning, 5 00:00:13,840 --> 00:00:14,480 Speaker 1: Sean Almer. 6 00:00:14,680 --> 00:00:15,720 Speaker 2: Good morning, Adam. 7 00:00:15,880 --> 00:00:18,760 Speaker 1: Sean's story number one. The gold price has hit a 8 00:00:18,800 --> 00:00:22,479 Speaker 1: new record, just shy of US four thousand dollars an ounce, 9 00:00:22,760 --> 00:00:26,480 Speaker 1: a level seemingly unattainable just a few years ago. As 10 00:00:26,520 --> 00:00:28,760 Speaker 1: the shutdown of the US federal government triggers a run 11 00:00:28,800 --> 00:00:30,920 Speaker 1: towards safe haven assets. 12 00:00:30,760 --> 00:00:33,280 Speaker 2: The price of an ounce of gold pushed beyond thirty 13 00:00:33,360 --> 00:00:36,200 Speaker 2: nine hundred US dollars an ounce to three thousand, nine 14 00:00:36,240 --> 00:00:38,720 Speaker 2: hundred and twenty nine dollars and ninety one cents. It's 15 00:00:38,720 --> 00:00:41,120 Speaker 2: doubled in priced since the beginning of last year. In 16 00:00:41,159 --> 00:00:44,599 Speaker 2: the four years before that, the goal price was relatively unchanged. 17 00:00:44,640 --> 00:00:47,560 Speaker 2: So it just highlights what an incredible eighteen to twenty 18 00:00:47,560 --> 00:00:49,880 Speaker 2: month gold has had. The main reasons for the run 19 00:00:50,200 --> 00:00:53,600 Speaker 2: GEO political and economic uncertainty and investors demand for safe 20 00:00:53,600 --> 00:00:57,160 Speaker 2: haven assets as US dollars reputation gets whacked. Goal has 21 00:00:57,200 --> 00:00:59,880 Speaker 2: come to the four particularly since Central banks, I prefer 22 00:01:00,200 --> 00:01:02,440 Speaker 2: to hold gold over the green back. The shutdown in 23 00:01:02,440 --> 00:01:05,000 Speaker 2: the US federal government triggered the most recent surge. Now 24 00:01:05,040 --> 00:01:08,080 Speaker 2: the run has also caused plenty of corporate activity. Yesterday, 25 00:01:08,160 --> 00:01:12,959 Speaker 2: Perth company Predictive Discovery in Canadian group Roebecks Resources announced 26 00:01:12,959 --> 00:01:15,760 Speaker 2: a merger to create a new ASEX gold company with 27 00:01:15,840 --> 00:01:18,280 Speaker 2: the market cap of about two point four billion dollars. 28 00:01:18,520 --> 00:01:22,480 Speaker 2: Both groups have assets in Guinea West Africa, so there 29 00:01:22,520 --> 00:01:25,280 Speaker 2: are obviously some synergies between the two. 30 00:01:25,600 --> 00:01:28,160 Speaker 1: The winners in all of this have been investors in gold, 31 00:01:28,200 --> 00:01:31,560 Speaker 1: with share prices of some gold stocks surging. But it 32 00:01:31,680 --> 00:01:33,280 Speaker 1: goes beyond pure equities. 33 00:01:33,840 --> 00:01:36,759 Speaker 2: It does taking equities first. The top performing thirty stocks 34 00:01:36,760 --> 00:01:38,720 Speaker 2: and the ASEX Over the last year, about one third 35 00:01:38,760 --> 00:01:42,680 Speaker 2: of gold companies, Regis Resources, Catalyst Medals, Genesis Minerals are 36 00:01:42,680 --> 00:01:44,959 Speaker 2: all up close to two hundred percent. The two big 37 00:01:44,959 --> 00:01:47,919 Speaker 2: gold stocks Northern Star and Newmont, both up fifty percent. 38 00:01:48,240 --> 00:01:51,320 Speaker 2: Gold ETFs have performed very strongly. VNX gold Mine as 39 00:01:51,360 --> 00:01:53,840 Speaker 2: ETF has more than doubles so far in twenty twenty five. 40 00:01:54,280 --> 00:01:57,040 Speaker 2: Perhaps the best example of the rise of gold is 41 00:01:57,040 --> 00:02:00,000 Speaker 2: that some of Australia's gold funds are now giving investors 42 00:02:00,200 --> 00:02:03,480 Speaker 2: the chance to cash in on the high returns way 43 00:02:03,560 --> 00:02:07,120 Speaker 2: ahead of schedule. That doesn't happen very much. Big question 44 00:02:07,200 --> 00:02:10,200 Speaker 2: cannot last. Plenty of analysts expect Gold to push through 45 00:02:10,240 --> 00:02:14,399 Speaker 2: four thousand US dollars an ounced maybe this week, particularly 46 00:02:14,480 --> 00:02:17,280 Speaker 2: given the very challenging geopolitical climate story. 47 00:02:17,360 --> 00:02:20,639 Speaker 1: Number two. Prime Minister Anthony Alberzi has called for Australians 48 00:02:20,639 --> 00:02:23,720 Speaker 1: to turn down the temperature of public debate after the 49 00:02:23,760 --> 00:02:26,640 Speaker 1: Australian Federal Police charged a man for making threats to 50 00:02:26,720 --> 00:02:28,560 Speaker 1: kill the Prime Minister on social media. 51 00:02:28,880 --> 00:02:31,760 Speaker 2: Alberanzi said threats need to be taken seriously and thanked 52 00:02:31,800 --> 00:02:33,840 Speaker 2: the Australian Federal Police for the work it did. He 53 00:02:33,880 --> 00:02:36,920 Speaker 2: added that wherever possible, Australians need to turn down the 54 00:02:36,960 --> 00:02:40,959 Speaker 2: temperature of debate and to agree and disagree respectfully. Alberanzi 55 00:02:40,960 --> 00:02:43,360 Speaker 2: he said Australia has a vibrant democracy and no one's 56 00:02:43,360 --> 00:02:45,720 Speaker 2: trying to stifle free speech. He added, and I quote, 57 00:02:45,919 --> 00:02:47,800 Speaker 2: but the level of threats which have been made have 58 00:02:47,880 --> 00:02:50,560 Speaker 2: been elevated substantially. It has meant changes to what I'm 59 00:02:50,600 --> 00:02:52,680 Speaker 2: able to do and how I'm able to do it. 60 00:02:52,919 --> 00:02:56,320 Speaker 2: He was speaking after officially signing the Pok Puok Defense 61 00:02:56,400 --> 00:03:00,400 Speaker 2: Agreement with PNG Prime Minister James Marape and Canberra. Treaty 62 00:03:00,440 --> 00:03:02,840 Speaker 2: is Australia's first new alliance in more than seventy years. 63 00:03:03,040 --> 00:03:05,400 Speaker 2: We'll see both countries come to each other's defense if 64 00:03:05,440 --> 00:03:07,799 Speaker 2: either is attack. The treaty will also pave the way 65 00:03:07,840 --> 00:03:10,799 Speaker 2: for Pang citizens to serve in the Australian Defense Forces. 66 00:03:11,040 --> 00:03:14,560 Speaker 1: Stoying number three, ASSEK has issued a scathing report card 67 00:03:14,600 --> 00:03:17,400 Speaker 1: on the way the four point three trillion dollar superindustry 68 00:03:17,440 --> 00:03:21,840 Speaker 1: and the country's major auditing firms value unlisted assets after 69 00:03:21,880 --> 00:03:25,480 Speaker 1: it emerged that the nation's second largest superfund had written 70 00:03:25,520 --> 00:03:29,240 Speaker 1: down a US investment worth almost half a billion dollars. 71 00:03:29,639 --> 00:03:33,160 Speaker 2: The corporate regulator's first review of the sector's financial reports 72 00:03:33,160 --> 00:03:36,800 Speaker 2: and audits found super funds disclosure about non listed assets 73 00:03:36,840 --> 00:03:40,280 Speaker 2: was often inconsistent and unreliable, making it difficult for members 74 00:03:40,320 --> 00:03:42,960 Speaker 2: to be confident about the value of their holdings. ASSEK 75 00:03:43,040 --> 00:03:45,880 Speaker 2: also concluded, after reviewing one audit pat of the five 76 00:03:45,960 --> 00:03:49,880 Speaker 2: largest accounting firms, that only one firm had obtained sufficient 77 00:03:49,920 --> 00:03:53,320 Speaker 2: evidence to conclude that asset valuations in that fund's financial 78 00:03:53,400 --> 00:03:56,840 Speaker 2: statements were reliable. This is according to a fin review story. 79 00:03:57,080 --> 00:03:59,680 Speaker 2: The asset report follows the nation's second largest superfund, the 80 00:03:59,680 --> 00:04:02,520 Speaker 2: three than thirty billion dollar Australian Retirement Trust, of faulting 81 00:04:02,800 --> 00:04:05,640 Speaker 2: on a loane tied to an office block in Seattle, Washington. 82 00:04:05,960 --> 00:04:08,480 Speaker 2: It means that the roughly three hundred million US dollars 83 00:04:08,520 --> 00:04:12,600 Speaker 2: investment made by Australian Retirement Trust, or at least its predecessor, 84 00:04:12,720 --> 00:04:14,920 Speaker 2: Q Super is now considered worthless. 85 00:04:15,320 --> 00:04:18,039 Speaker 1: Story number four In the Battle of the football codes, 86 00:04:18,120 --> 00:04:21,800 Speaker 1: TV ratings matter, and this year the National Rugby League 87 00:04:21,800 --> 00:04:24,840 Speaker 1: Grand Final beat the AFL Grand Final with an average 88 00:04:24,839 --> 00:04:27,839 Speaker 1: audience of four point five million, making it the largest 89 00:04:27,880 --> 00:04:29,840 Speaker 1: television event of twenty twenty five. 90 00:04:30,279 --> 00:04:32,360 Speaker 2: The Brisbane Broncos, of course, came from behind to beat 91 00:04:32,360 --> 00:04:35,240 Speaker 2: Melbourne Storm. Six point four million people tuned in at 92 00:04:35,279 --> 00:04:37,200 Speaker 2: some point for the game. According to oz TAM, the 93 00:04:37,240 --> 00:04:40,880 Speaker 2: AFL Grand Final six point one million tuned in. That 94 00:04:41,000 --> 00:04:44,120 Speaker 2: was between Brisbane Line and Brisbane Lines and Geelong Cats. 95 00:04:44,360 --> 00:04:46,760 Speaker 2: It had an average of four point one million viewers 96 00:04:46,760 --> 00:04:51,320 Speaker 2: compared to the NRL's four point five million viewers. A 97 00:04:51,360 --> 00:04:54,160 Speaker 2: little over one point three million people watched the rugby 98 00:04:54,240 --> 00:04:57,120 Speaker 2: league match through Channel nine's app nine, now making it 99 00:04:57,160 --> 00:04:59,840 Speaker 2: the biggest event for a free to wear broadcast. App Ever, 100 00:05:00,279 --> 00:05:02,600 Speaker 2: the AFL still had a large Audian's almost a million 101 00:05:02,600 --> 00:05:04,360 Speaker 2: people watching via the seven plus app. 102 00:05:04,600 --> 00:05:09,240 Speaker 1: Story Number five, Warren Buffett's Berkshire Hathaway is back buying assets, 103 00:05:09,600 --> 00:05:11,839 Speaker 1: and given it has about US three hundred and forty 104 00:05:11,839 --> 00:05:15,440 Speaker 1: four billion in cash, it's about time. Berkshire will purchase 105 00:05:15,520 --> 00:05:20,200 Speaker 1: Occidental Petroleum corpse petrochemical business for just under US ten 106 00:05:20,240 --> 00:05:21,000 Speaker 1: billion dollars. 107 00:05:21,360 --> 00:05:25,880 Speaker 2: The oxychem business makes basic chemicals like chlorine, sodium hydroxide, 108 00:05:25,920 --> 00:05:28,800 Speaker 2: vinyl products almost old fashioned. I would say it'll be 109 00:05:28,839 --> 00:05:32,800 Speaker 2: Berkshey's largest deal since twenty twenty two. After years spent 110 00:05:32,920 --> 00:05:36,080 Speaker 2: holding back from large deals and progressively unwinding big holdings 111 00:05:36,080 --> 00:05:38,960 Speaker 2: like He's steak in Apple, Buffet appears to be spending again. 112 00:05:39,000 --> 00:05:41,160 Speaker 2: The ninety five year old chief executive it's set to 113 00:05:41,240 --> 00:05:42,560 Speaker 2: leave the role at the end of the year. He 114 00:05:42,640 --> 00:05:45,159 Speaker 2: spent money on United Health in recent months. Now he's 115 00:05:45,160 --> 00:05:49,160 Speaker 2: done this Occidental Petroleum deal. Mind you, he's fast to 116 00:05:49,200 --> 00:05:50,640 Speaker 2: step down at the end of this year, as I mentioned, 117 00:05:50,680 --> 00:05:51,960 Speaker 2: could be his last big deal. 118 00:05:52,560 --> 00:05:54,880 Speaker 1: That's it the top five business stories you need to 119 00:05:54,880 --> 00:05:57,640 Speaker 1: know in just five minutes. Thank you Sean, Thank you Adam. 120 00:05:57,680 --> 00:06:00,880 Speaker 1: It's Tuesday, the seventh of Octover twenty twenty five. Remember 121 00:06:01,000 --> 00:06:03,480 Speaker 1: to hit follow on the podcast, and if five minutes 122 00:06:03,560 --> 00:06:06,560 Speaker 1: isn't enough, then follow our longer podcast called Fear and 123 00:06:06,600 --> 00:06:09,760 Speaker 1: Greed on your favorite podcast platform. I'm Adam Lang and 124 00:06:09,839 --> 00:06:12,000 Speaker 1: that was the Fast five by Fear and Greed. Have 125 00:06:12,080 --> 00:06:12,680 Speaker 1: a great date.