1 00:00:06,160 --> 00:00:08,920 Speaker 1: This is the Saturday edition of Fear and Greed business 2 00:00:08,960 --> 00:00:12,240 Speaker 1: News you can use. I'm Michael Thompson and good morning Sean. Aylmer. 3 00:00:12,640 --> 00:00:16,280 Speaker 1: Good morning, Michael, Sean. Our Saturday edition is all about 4 00:00:16,280 --> 00:00:18,480 Speaker 1: the two of us, each nominating what we think is 5 00:00:18,520 --> 00:00:20,919 Speaker 1: the biggest business news story of the week, the most 6 00:00:20,920 --> 00:00:24,880 Speaker 1: remarkable story, a mystery category that we change every single week, 7 00:00:25,200 --> 00:00:28,200 Speaker 1: and then our favorite story. We are joined by a 8 00:00:28,280 --> 00:00:30,760 Speaker 1: judge because this is a competition and we do need 9 00:00:30,800 --> 00:00:34,040 Speaker 1: a winner. That judge is our Fear and Greed colleague, 10 00:00:34,080 --> 00:00:35,880 Speaker 1: Adam Lang Adam, good morning. 11 00:00:35,800 --> 00:00:37,880 Speaker 2: Good morning Michael, and good morning Sean. 12 00:00:38,440 --> 00:00:42,080 Speaker 1: Good morning, a Damski. Nice to see you. There's simply 13 00:00:42,159 --> 00:00:45,560 Speaker 1: to see you both. Why are you being so nice 14 00:00:45,560 --> 00:00:50,320 Speaker 1: to each other? This is usually there's early Watch out, Michael, 15 00:00:50,920 --> 00:00:54,600 Speaker 1: watch out like this smells like collusion to me. I 16 00:00:54,640 --> 00:00:56,560 Speaker 1: don't like the sound of this, Adam, what are you 17 00:00:56,600 --> 00:01:00,960 Speaker 1: looking for today? Let's get a little bit of order 18 00:01:01,080 --> 00:01:03,000 Speaker 1: and structure to this show. What are you looking for? 19 00:01:03,680 --> 00:01:07,679 Speaker 2: Okay, topicality and timeliness, of course, economic impact is the 20 00:01:07,680 --> 00:01:11,120 Speaker 2: big one, and a bit of subjective bias as well 21 00:01:11,200 --> 00:01:12,320 Speaker 2: as some melodrama. 22 00:01:12,360 --> 00:01:15,040 Speaker 1: Please, okay, all right, that's fine, we can do all 23 00:01:15,040 --> 00:01:16,640 Speaker 1: of those. Sean, would you like to go first with 24 00:01:16,720 --> 00:01:18,199 Speaker 1: the biggest story of the week. 25 00:01:19,640 --> 00:01:23,440 Speaker 3: Well, this, I mean again, it's kind of a difficult 26 00:01:23,480 --> 00:01:26,840 Speaker 3: week because of the war, and we're not really talking 27 00:01:26,959 --> 00:01:28,959 Speaker 3: about the war in the Middle East as a story 28 00:01:28,959 --> 00:01:32,280 Speaker 3: in itself, Adam, we are talking about the fallout from 29 00:01:32,319 --> 00:01:35,160 Speaker 3: the war. Really, okay, now that that's my biggest story 30 00:01:35,160 --> 00:01:36,560 Speaker 3: of the week, So it's not. I mean, there's only 31 00:01:36,560 --> 00:01:40,320 Speaker 3: one big story this week. Clearly it is interest rates. 32 00:01:41,160 --> 00:01:43,280 Speaker 3: You know, a few weeks back, no more rate rises. 33 00:01:43,319 --> 00:01:45,120 Speaker 3: A few months back, we're going to have rate cuts. 34 00:01:45,520 --> 00:01:50,000 Speaker 3: Now we're having rate hikes. Today, we are paying more 35 00:01:50,040 --> 00:01:52,840 Speaker 3: for our mortgage, more for our credit card bills, more 36 00:01:52,840 --> 00:01:55,640 Speaker 3: for our business loan, and there's about a fifty percent 37 00:01:55,720 --> 00:01:59,280 Speaker 3: chance we're going to be paying even more after May. 38 00:02:00,320 --> 00:02:03,200 Speaker 3: It is quite ridiculous for Michael, who I'm sure in 39 00:02:03,240 --> 00:02:05,360 Speaker 3: a moment will come and give you some other story 40 00:02:05,920 --> 00:02:09,120 Speaker 3: to suggest anything but interest rates. 41 00:02:09,680 --> 00:02:15,200 Speaker 1: What's the biggest story? What think about it? 42 00:02:15,360 --> 00:02:19,200 Speaker 3: Stuff go, prices go up and down, right, you know, 43 00:02:19,400 --> 00:02:24,400 Speaker 3: politicians say stuff my mortgage repayments. They stay with me 44 00:02:24,639 --> 00:02:27,600 Speaker 3: for twenty five years, and the fact that I am 45 00:02:27,639 --> 00:02:32,600 Speaker 3: now paying more on my mortgage. That's a long term 46 00:02:32,639 --> 00:02:36,320 Speaker 3: economic impact. That is what it's all about. This is 47 00:02:36,320 --> 00:02:40,560 Speaker 3: how we run the economy via interest rates. Adam, you 48 00:02:40,639 --> 00:02:44,240 Speaker 3: love economics. You're an odd person and you do. You 49 00:02:44,400 --> 00:02:48,280 Speaker 3: love economics. And for you to say that anything but 50 00:02:48,440 --> 00:02:51,800 Speaker 3: interest rates in a week when something actually happens, because 51 00:02:51,840 --> 00:02:54,600 Speaker 3: remember it that happens like two or three times a year. 52 00:02:54,639 --> 00:02:57,040 Speaker 3: We have what fifty odd shows a year of this, 53 00:02:57,520 --> 00:03:00,560 Speaker 3: so two or three times year rates actually move. Yet 54 00:03:00,760 --> 00:03:03,800 Speaker 3: you give the win when rates might move. You know, 55 00:03:03,800 --> 00:03:05,320 Speaker 3: oh inflation went up a little bit. Oh yeah, we 56 00:03:05,320 --> 00:03:08,840 Speaker 3: would give that one the win. So rights have actually moved. 57 00:03:11,280 --> 00:03:14,520 Speaker 3: Just a big story of the week, laid down mess 58 00:03:14,560 --> 00:03:17,079 Speaker 3: are couple. I think I'm being a bit defensive, but 59 00:03:17,120 --> 00:03:18,920 Speaker 3: potentially we go on a. 60 00:03:18,800 --> 00:03:21,359 Speaker 1: Couple of little wax. I felt like you were trying 61 00:03:21,360 --> 00:03:23,800 Speaker 1: to decide on your strategy throughout it. Where you're going 62 00:03:23,840 --> 00:03:27,320 Speaker 1: to attack me or are you going to attack Adam Shelley, 63 00:03:27,440 --> 00:03:30,120 Speaker 1: just attack both of us, just you know what. 64 00:03:30,320 --> 00:03:33,240 Speaker 3: Slightly I'm scared of what your story is. So I'm 65 00:03:33,280 --> 00:03:34,359 Speaker 3: being slightly defensive. 66 00:03:34,800 --> 00:03:37,760 Speaker 1: That's what it was. And Adam, for mine, I think 67 00:03:37,760 --> 00:03:42,880 Speaker 1: we almost need to invoke the judging criteria of another 68 00:03:43,040 --> 00:03:47,480 Speaker 1: judge who joined us previously at Diana Messina. Do you 69 00:03:47,480 --> 00:03:51,720 Speaker 1: remember when she joined from A did impact did an 70 00:03:51,720 --> 00:03:54,360 Speaker 1: excellent job? It wasn't just that, Remember, she was looking 71 00:03:54,520 --> 00:04:00,800 Speaker 1: for how exceptional or unusual it was? Remember it was 72 00:04:00,880 --> 00:04:03,080 Speaker 1: kind of like that that It wasn't an excellent idea 73 00:04:03,120 --> 00:04:06,120 Speaker 1: to add a criteria to judging. After I've gone on, 74 00:04:06,840 --> 00:04:13,440 Speaker 1: it's it seems consistent, really, Adam Willy nearly applies different 75 00:04:13,960 --> 00:04:18,720 Speaker 1: different criteria, but interest rates. It feels very odd to 76 00:04:18,760 --> 00:04:21,160 Speaker 1: be arguing against that as the biggest story, because I 77 00:04:21,200 --> 00:04:23,240 Speaker 1: have argued for several weeks now that it was going 78 00:04:23,279 --> 00:04:27,560 Speaker 1: to be the biggest story. But and I feel it. 79 00:04:27,760 --> 00:04:31,039 Speaker 1: I feel it too. I cannot believe how quickly the 80 00:04:31,120 --> 00:04:34,840 Speaker 1: email came from my bank saying that the variable rate 81 00:04:34,920 --> 00:04:35,719 Speaker 1: loan was going. 82 00:04:35,600 --> 00:04:43,080 Speaker 4: Up, but but but but yes, the trip and with 83 00:04:43,200 --> 00:04:48,560 Speaker 4: the fourth from Sean thrown in petrol shortages price soaring, 84 00:04:49,160 --> 00:04:51,920 Speaker 4: all of this, you know, it hasn't ended. 85 00:04:51,720 --> 00:04:53,919 Speaker 1: The world feel to it. It's got kind of like 86 00:04:54,000 --> 00:05:00,480 Speaker 1: a pandemic era kind of toilet paper feel, except this 87 00:05:00,520 --> 00:05:03,159 Speaker 1: is a whole lot more serious than toilet paper shortages, right, 88 00:05:03,960 --> 00:05:08,919 Speaker 1: National Cabinet, I'm not so sure about but ah, look, 89 00:05:09,200 --> 00:05:11,840 Speaker 1: National Cabinet, right, So in terms of what actually happened 90 00:05:11,880 --> 00:05:14,880 Speaker 1: this week, National Cabinet met set up a fuel supply 91 00:05:15,120 --> 00:05:18,120 Speaker 1: task Force, going to be led by Anthea Harris. The 92 00:05:18,240 --> 00:05:23,400 Speaker 1: job it feels like a wartime job, right of ensuring 93 00:05:23,480 --> 00:05:27,120 Speaker 1: fuel is distributed where it's needed because there are shortages 94 00:05:27,240 --> 00:05:29,600 Speaker 1: at like there have been a whole sack of petrol stations, 95 00:05:29,800 --> 00:05:33,560 Speaker 1: particularly in rural and regional areas where there's just no 96 00:05:33,720 --> 00:05:36,240 Speaker 1: diesel for instance, and there is a bit of a 97 00:05:36,279 --> 00:05:39,839 Speaker 1: scramble for a lot of people. Self interest Michael go on, Yes, 98 00:05:40,279 --> 00:05:43,640 Speaker 1: it is self interest, self interest for me, self interest 99 00:05:43,680 --> 00:05:45,800 Speaker 1: for all the people that I represent. This is the 100 00:05:45,839 --> 00:05:50,120 Speaker 1: people's story. Sean Malaysia has warned that shipments to Australia 101 00:05:50,200 --> 00:05:53,160 Speaker 1: could be disrupted if the conflict in the Middle East 102 00:05:53,200 --> 00:05:56,400 Speaker 1: goes on and they are like our main supplier, they 103 00:05:56,440 --> 00:06:00,440 Speaker 1: may need to prioritize its own needs, right, So that's 104 00:06:00,440 --> 00:06:03,240 Speaker 1: a worry. The A Triple C. These are like you 105 00:06:03,320 --> 00:06:05,080 Speaker 1: just add up all the things that took place this week, 106 00:06:05,120 --> 00:06:09,039 Speaker 1: The A Triple C launching an investigation into ample BP 107 00:06:09,400 --> 00:06:13,360 Speaker 1: mobile Viva energy. Right, they don't normally tell people when 108 00:06:13,360 --> 00:06:16,760 Speaker 1: they're doing these investigations in order to actually emphasize just 109 00:06:16,839 --> 00:06:19,440 Speaker 1: how significant this is at the moment they actually put 110 00:06:19,480 --> 00:06:22,119 Speaker 1: it out there. City Bank City warned that for every 111 00:06:22,200 --> 00:06:25,480 Speaker 1: kind of ten cent increase in average fuel prices, consumers 112 00:06:25,520 --> 00:06:28,040 Speaker 1: would be hit with a one point six billion dollar 113 00:06:28,120 --> 00:06:30,760 Speaker 1: director annual cost. The total cost could be six to 114 00:06:30,880 --> 00:06:32,880 Speaker 1: seven billion dollars in sean. You made the point through 115 00:06:32,920 --> 00:06:36,240 Speaker 1: the week that that could have a greater impact on 116 00:06:36,560 --> 00:06:39,360 Speaker 1: household spending and the ability to put the brakes on spending. 117 00:06:39,760 --> 00:06:45,760 Speaker 1: Then it is all one story. These are all the 118 00:06:45,800 --> 00:06:48,640 Speaker 1: events that took place. This is how big this story is. 119 00:06:48,760 --> 00:06:51,159 Speaker 1: It is not just It is not just about me 120 00:06:51,480 --> 00:06:55,200 Speaker 1: or you. It is it is an international crisis. It's 121 00:06:55,400 --> 00:07:00,320 Speaker 1: the vibe. This is like Sri Lanka, for instance, having 122 00:07:00,720 --> 00:07:04,160 Speaker 1: a public declaring a public holiday every Wednesday in order 123 00:07:04,240 --> 00:07:09,800 Speaker 1: to conserve fuel. Thailand telling you Thailand telling office workers 124 00:07:09,880 --> 00:07:13,840 Speaker 1: to don't wear don't wear suits, wear short sleeves insteads 125 00:07:14,240 --> 00:07:15,000 Speaker 1: so that they. 126 00:07:14,800 --> 00:07:18,360 Speaker 3: Can run sleeves safari suit. Do you think that's what 127 00:07:18,360 --> 00:07:19,200 Speaker 3: they're actually getting to? 128 00:07:19,560 --> 00:07:20,280 Speaker 1: That would be all. 129 00:07:21,840 --> 00:07:27,960 Speaker 3: Ima with the long socks obviously long walking socks, but yeah, 130 00:07:28,080 --> 00:07:28,520 Speaker 3: that's right. 131 00:07:28,880 --> 00:07:31,040 Speaker 2: Long socks are important helmets is optional. 132 00:07:31,640 --> 00:07:33,680 Speaker 1: But I mean when when you look at the shortages 133 00:07:33,960 --> 00:07:35,960 Speaker 1: and that the prices that are swing, like good luck 134 00:07:35,960 --> 00:07:38,440 Speaker 1: paying less than two dollars eighty for diesel at the 135 00:07:38,480 --> 00:07:42,120 Speaker 1: moment anywhere. And I'm sure you may not, but I 136 00:07:42,200 --> 00:07:43,280 Speaker 1: tell you what, there's a heck of a lot of 137 00:07:43,320 --> 00:07:45,200 Speaker 1: farmers that do. And you need it for you, you 138 00:07:45,240 --> 00:07:49,080 Speaker 1: need it and trucks anyone trying to deliver anything. Farmers 139 00:07:49,520 --> 00:07:53,720 Speaker 1: industries rely on this. This is something actually that's going 140 00:07:53,760 --> 00:07:57,800 Speaker 1: to People are already considering behavioral changes in terms of 141 00:07:57,920 --> 00:08:00,360 Speaker 1: am I going to drive to where I need to go? 142 00:08:00,720 --> 00:08:03,880 Speaker 1: Is there another way to do this? We had Shane 143 00:08:03,920 --> 00:08:06,280 Speaker 1: Oliver through the week talking about kind of this is 144 00:08:06,320 --> 00:08:08,360 Speaker 1: the time when people will start thinking about working from 145 00:08:08,360 --> 00:08:11,800 Speaker 1: home instead of going into the office. These kinds of changes, 146 00:08:11,840 --> 00:08:13,960 Speaker 1: there is the potential for rational we get the gist. 147 00:08:14,280 --> 00:08:16,640 Speaker 1: I know. I'm sorry, I just I got a little 148 00:08:17,000 --> 00:08:20,120 Speaker 1: I got a little carried away because I genuinely feel this. 149 00:08:20,880 --> 00:08:24,800 Speaker 1: Really I am worried about am I going to be 150 00:08:24,840 --> 00:08:26,600 Speaker 1: able to fill up the car Adam. 151 00:08:27,440 --> 00:08:31,760 Speaker 2: Yes, it's a rare, rare week when an interest rate 152 00:08:31,840 --> 00:08:36,160 Speaker 2: rise can't win. The bigger story this week is petrol prices. 153 00:08:36,280 --> 00:08:40,400 Speaker 2: I have to say, I'm Donald Trump plus supply chain 154 00:08:40,480 --> 00:08:43,960 Speaker 2: disruption on this global scale. I don't know where this 155 00:08:43,960 --> 00:08:46,080 Speaker 2: one's going to end. And Sean, as you said during 156 00:08:46,080 --> 00:08:48,840 Speaker 2: the week, this is actually a bigger impact on people's 157 00:08:49,000 --> 00:08:52,679 Speaker 2: budgets than an interest rate rise at the moment, it's huge. 158 00:08:54,280 --> 00:08:56,520 Speaker 3: I can't argue with that. I can't argue with that. 159 00:08:56,559 --> 00:08:58,800 Speaker 3: But we just didn't need like seven minutes of mine. 160 00:08:59,200 --> 00:09:00,480 Speaker 3: I mean, he could have just petrol. 161 00:09:01,320 --> 00:09:02,840 Speaker 1: But do we get it. 162 00:09:03,120 --> 00:09:04,000 Speaker 2: We didn't need it. 163 00:09:04,640 --> 00:09:07,360 Speaker 1: Yeah, I know, you know. Okay, as a trade off. 164 00:09:07,720 --> 00:09:10,120 Speaker 1: To make up for it, I will put myself on 165 00:09:10,160 --> 00:09:13,480 Speaker 1: a thirty second timer for every other story. 166 00:09:13,960 --> 00:09:17,920 Speaker 3: Right, let's go. Let's see my timer going here. I'm 167 00:09:17,960 --> 00:09:21,000 Speaker 3: ready for it. Michael, I'm not going to say anything, Adam, 168 00:09:21,040 --> 00:09:22,839 Speaker 3: don't say anything. See if you can do this in 169 00:09:23,160 --> 00:09:27,439 Speaker 3: thirty minutes. The most remarkable story for you, Michael. 170 00:09:27,160 --> 00:09:30,120 Speaker 1: Did you just extend my time to thirty minutes? I 171 00:09:30,120 --> 00:09:32,880 Speaker 1: did to. I will use it if you give it 172 00:09:32,920 --> 00:09:38,640 Speaker 1: to me thirty seconds. As we go, time starts now. Okay, 173 00:09:38,640 --> 00:09:40,800 Speaker 1: it's really a flow on from my first story. So 174 00:09:40,840 --> 00:09:41,839 Speaker 1: you know what, I'm gonna have to go into a 175 00:09:41,880 --> 00:09:44,160 Speaker 1: little I'm sorry, okay, I won't. I won't. Just the 176 00:09:44,200 --> 00:09:48,520 Speaker 1: looks on both of your faces just then, remarkable, remarkable, 177 00:09:48,559 --> 00:09:52,120 Speaker 1: how volatile markets are right now. There were some figures 178 00:09:52,120 --> 00:09:54,400 Speaker 1: around it the at one point late in the week 179 00:09:54,440 --> 00:09:56,800 Speaker 1: that said the ASX two hundred and fallen. Is it 180 00:09:56,880 --> 00:09:59,360 Speaker 1: more than seven point five percent since the start of 181 00:09:59,360 --> 00:10:01,960 Speaker 1: the Middle East conflict, wiping about two hundred and sixty 182 00:10:02,000 --> 00:10:05,200 Speaker 1: five billion dollars in value in one day? This week 183 00:10:05,240 --> 00:10:10,680 Speaker 1: it was down one point seven percent. Oil prices surging, gold, drugs. Yeah, 184 00:10:10,840 --> 00:10:14,040 Speaker 1: you know what, I realize what I do? I crap on. 185 00:10:14,360 --> 00:10:18,680 Speaker 1: I had this moment of clarity. No, yeah, it happened. 186 00:10:18,720 --> 00:10:21,920 Speaker 1: And I looked at Sean and the excitement in your 187 00:10:21,960 --> 00:10:24,240 Speaker 1: face as you realized that I was not going to 188 00:10:24,280 --> 00:10:27,360 Speaker 1: get there, and I'm like, oh no, my time's running out. 189 00:10:27,640 --> 00:10:29,440 Speaker 1: And I hadn't even said half the stuff I was 190 00:10:29,480 --> 00:10:31,160 Speaker 1: going to I was going to talk about the FED 191 00:10:31,280 --> 00:10:33,880 Speaker 1: keeping rates on hold. I was going to talk about 192 00:10:33,880 --> 00:10:38,360 Speaker 1: obviously the impact of local rate rises and anyway, I 193 00:10:38,440 --> 00:10:44,160 Speaker 1: won't do it. Thirty seconds I did it, success said 194 00:10:44,160 --> 00:10:47,960 Speaker 1: it was a kind of kind. 195 00:10:49,440 --> 00:10:52,120 Speaker 3: Yeah. Look was the most remarkable story is the fact 196 00:10:52,120 --> 00:10:54,680 Speaker 3: that we having such a change over at the top 197 00:10:54,720 --> 00:10:57,320 Speaker 3: of corporate Australia at the moment. Two top ten companies 198 00:10:57,360 --> 00:11:00,920 Speaker 3: this week announced new ceas. Don't think I can ever 199 00:11:00,960 --> 00:11:04,839 Speaker 3: remember that happening. That really is remarkable. BHP's appointed Brandon Craig, 200 00:11:04,880 --> 00:11:08,160 Speaker 3: a fifty three year old South African born minor naturalized Ozzie. 201 00:11:08,400 --> 00:11:11,640 Speaker 3: Being with BHP for about twenty five thirty years. He's 202 00:11:11,720 --> 00:11:13,640 Speaker 3: run the iron Ore division, which of course is the 203 00:11:13,640 --> 00:11:17,199 Speaker 3: big one for BHP. Currently it's Minerals America's president, so 204 00:11:17,440 --> 00:11:20,720 Speaker 3: he knows lots about potash, copper, stuff like that. Copper 205 00:11:20,760 --> 00:11:22,280 Speaker 3: will be his focus. So he's taking out of the 206 00:11:22,320 --> 00:11:25,160 Speaker 3: top job on one July than Woodside Energy, which I 207 00:11:25,160 --> 00:11:27,760 Speaker 3: think is a harder job in some ways. Meg O'Neil 208 00:11:27,840 --> 00:11:32,080 Speaker 3: ran that she's going off to work for BP. She's 209 00:11:32,120 --> 00:11:35,600 Speaker 3: been replaced by Liz Westcott. She's kind of a long 210 00:11:35,720 --> 00:11:38,280 Speaker 3: term Woodside person. This is a company who's got the 211 00:11:38,280 --> 00:11:40,520 Speaker 3: six en and a half billion dollar Scarborough gas project 212 00:11:40,520 --> 00:11:42,840 Speaker 3: in wa due to come on stream late this year, 213 00:11:43,280 --> 00:11:47,400 Speaker 3: also construction of its Louisiana LNG terminal. Why I think 214 00:11:47,440 --> 00:11:50,520 Speaker 3: Woodside's harder is because oil and gas is far more 215 00:11:50,559 --> 00:11:54,840 Speaker 3: controversial than mining. And I think you need a certain 216 00:11:54,960 --> 00:11:59,119 Speaker 3: constitution to do woodside. We've had a bunch of companies 217 00:11:59,400 --> 00:12:03,440 Speaker 3: who have had new CEOs Rio ain Z, Newmont, Bluescope, 218 00:12:03,480 --> 00:12:07,920 Speaker 3: Sonic Treasury, and Deva Car Group, Area Star Entertainment, Healthcare, 219 00:12:07,960 --> 00:12:11,439 Speaker 3: et cetera, et cetera, et cetera. Maybe it's past COVID thing. 220 00:12:11,520 --> 00:12:15,640 Speaker 3: Maybe it's like operating in an interest rate slash inflationary environment. 221 00:12:15,679 --> 00:12:19,679 Speaker 3: Haven't had that since the GFC. Active investors are more active, 222 00:12:19,760 --> 00:12:23,319 Speaker 3: so this is kind of interesting. So many people invest passively. 223 00:12:23,400 --> 00:12:26,560 Speaker 3: Now when you're an active fund manager, you fearly you've 224 00:12:26,600 --> 00:12:27,560 Speaker 3: got to make a difference. 225 00:12:27,640 --> 00:12:28,800 Speaker 1: So you're actually they're kind. 226 00:12:28,640 --> 00:12:31,760 Speaker 3: Of more active than they were before, and so they 227 00:12:31,760 --> 00:12:35,160 Speaker 3: are pushing management and boards to do a better job. 228 00:12:35,800 --> 00:12:40,120 Speaker 3: All that together really quite a remarkable week on the AX. 229 00:12:40,280 --> 00:12:43,200 Speaker 3: No melodrama, just the facts there for you. 230 00:12:43,400 --> 00:12:50,719 Speaker 2: Adam Sean wins active investors in transitional times. I think 231 00:12:50,760 --> 00:12:55,280 Speaker 2: it is absolutely remarkable. We've got the Ukraine War still going, 232 00:12:55,480 --> 00:13:01,280 Speaker 2: we've got the Middle East really erupting so unstable, and 233 00:13:01,320 --> 00:13:04,559 Speaker 2: add Donald Trump into all of that, and so this 234 00:13:05,160 --> 00:13:08,320 Speaker 2: CEO changeover. I think Sean, you made a great point 235 00:13:08,400 --> 00:13:10,920 Speaker 2: during the week and I think it is reflective of 236 00:13:10,960 --> 00:13:14,839 Speaker 2: so much going on and active investing, volatile markets. Yeah, 237 00:13:14,880 --> 00:13:18,920 Speaker 2: it's absolutely huge story Michael and thematic it will still 238 00:13:19,000 --> 00:13:21,880 Speaker 2: keep going. But I think this week remarkable that changeover 239 00:13:21,920 --> 00:13:22,400 Speaker 2: has to win. 240 00:13:23,120 --> 00:13:24,720 Speaker 3: If you have for ten more seconds, you will have 241 00:13:24,720 --> 00:13:25,920 Speaker 3: gone for longer than Michael went. 242 00:13:27,559 --> 00:13:29,640 Speaker 1: And I reckon I could have won that if you'd 243 00:13:29,679 --> 00:13:32,120 Speaker 1: just given me another four or five minutes to make 244 00:13:32,160 --> 00:13:36,840 Speaker 1: my case. Believe you would have worn him down. Shel 245 00:13:36,880 --> 00:13:39,360 Speaker 1: we on, all you know, that's pretty good. We'll take 246 00:13:39,360 --> 00:13:41,199 Speaker 1: a quick break, come back in a moment with our 247 00:13:41,280 --> 00:13:50,440 Speaker 1: mystery category for the week. All right, Sean, we are 248 00:13:50,440 --> 00:13:55,120 Speaker 1: looking now for our mystery category. Now, does this ring 249 00:13:55,160 --> 00:13:59,920 Speaker 1: any bells to anybody? This category, this is the story 250 00:14:00,080 --> 00:14:02,360 Speaker 1: that's a massive story, though we don't know if it's 251 00:14:02,400 --> 00:14:06,079 Speaker 1: a story yet. Doesn't remind anyone of the old sleeper 252 00:14:06,120 --> 00:14:09,320 Speaker 1: story category that we used to have here just a 253 00:14:09,320 --> 00:14:09,760 Speaker 1: little bit. 254 00:14:09,840 --> 00:14:12,760 Speaker 3: But at least with the sleeper category, it had happened, 255 00:14:13,400 --> 00:14:17,719 Speaker 3: that's true, whereas this one is like it might very 256 00:14:17,760 --> 00:14:18,560 Speaker 3: possibly it might not. 257 00:14:18,720 --> 00:14:21,360 Speaker 1: I still don't, how hold a lot of hope for 258 00:14:21,440 --> 00:14:25,240 Speaker 1: my success, because I was remembered notoriously bad at the 259 00:14:25,280 --> 00:14:28,040 Speaker 1: sleeper story. I did pick the category this week. There's 260 00:14:28,080 --> 00:14:30,680 Speaker 1: no doubt about it. Yeap, your fingerprints are all over it. 261 00:14:30,920 --> 00:14:32,960 Speaker 1: You take it away, Sean Well. 262 00:14:33,720 --> 00:14:35,360 Speaker 3: The story that's a massive story that we don't know 263 00:14:35,520 --> 00:14:39,200 Speaker 3: if it's story yet is the EU trade deal with Australia, 264 00:14:39,200 --> 00:14:42,600 Speaker 3: the Free Trade Agreement. What we do know is the 265 00:14:42,800 --> 00:14:46,000 Speaker 3: beautifully named Ursula vonder Lean. Can I say that again? 266 00:14:46,240 --> 00:14:51,360 Speaker 3: Ursler Vondalian is turning up next week. We think, we 267 00:14:51,400 --> 00:14:54,720 Speaker 3: think maybe to thrash out the final details of an 268 00:14:54,720 --> 00:14:57,640 Speaker 3: EU trade deal worth about ten billion dollars per year. 269 00:14:58,040 --> 00:15:00,760 Speaker 3: This has been decades in the making. WED Trade Minister 270 00:15:00,840 --> 00:15:04,160 Speaker 3: Don Farrell this week saying he's confident I've heard that before. 271 00:15:04,600 --> 00:15:08,480 Speaker 3: The big sticking point really has been ossie agriculture, particularly 272 00:15:08,480 --> 00:15:11,640 Speaker 3: beef access to European markets. Apparently the French and Irish 273 00:15:11,880 --> 00:15:15,920 Speaker 3: farmers are not happy. But the big benefits removes the 274 00:15:15,920 --> 00:15:18,800 Speaker 3: five percent tariff on European imputs into Australia. You think 275 00:15:18,840 --> 00:15:20,840 Speaker 3: of all those cars. Although it does upset me, I 276 00:15:20,880 --> 00:15:24,080 Speaker 3: recently bought Evolvo, probably five percent more expensive than what's 277 00:15:24,080 --> 00:15:26,640 Speaker 3: going to be in a few months time. It ends 278 00:15:26,800 --> 00:15:29,800 Speaker 3: in tariff on Australian ores and mineral soult of the 279 00:15:30,280 --> 00:15:34,840 Speaker 3: EU also means probably we can still use words for 280 00:15:34,920 --> 00:15:37,560 Speaker 3: our products like vetera and prosecco and that type of thing. 281 00:15:38,280 --> 00:15:42,880 Speaker 3: What I love about this story, Adam, Well, assuming this live, 282 00:15:43,000 --> 00:15:46,760 Speaker 3: vonder Len turns up and signs it this week, this 283 00:15:46,800 --> 00:15:50,320 Speaker 3: is the new world order. This is the middle powers. 284 00:15:50,320 --> 00:15:52,040 Speaker 3: And with respect to EE, you're probably more than a 285 00:15:52,080 --> 00:15:55,080 Speaker 3: middle power. But this is kind of the world getting 286 00:15:55,120 --> 00:16:02,360 Speaker 3: on with free trade sons us China. This is this 287 00:16:02,440 --> 00:16:06,720 Speaker 3: is like the new world order in action. Now the 288 00:16:06,720 --> 00:16:09,240 Speaker 3: EU has done previous free trade deal and they've been 289 00:16:09,360 --> 00:16:15,040 Speaker 3: very ursuler Vunderland has been very active in her free 290 00:16:15,080 --> 00:16:18,880 Speaker 3: trade negotiations. Now we're doing one with Australia. I think 291 00:16:18,920 --> 00:16:22,360 Speaker 3: this is a cracking, cracking story that we don't actually 292 00:16:22,400 --> 00:16:23,960 Speaker 3: know whether it's a story yet because it may not 293 00:16:24,000 --> 00:16:27,360 Speaker 3: actually happen. But I'll tell you if he signs off 294 00:16:27,400 --> 00:16:29,240 Speaker 3: next week, I've got thids on this one for the 295 00:16:29,240 --> 00:16:30,160 Speaker 3: biggest story of the week. 296 00:16:31,600 --> 00:16:35,840 Speaker 1: Okay, noted, you can have it. That's a That is 297 00:16:35,880 --> 00:16:38,680 Speaker 1: good because I plan on talking about petrol prices again 298 00:16:38,720 --> 00:16:44,000 Speaker 1: next week and I have no time limits next week. 299 00:16:44,240 --> 00:16:48,080 Speaker 1: Do I still have a thirty second limit for this one. Yes, no, 300 00:16:48,320 --> 00:16:49,120 Speaker 1: you have a bit longer. 301 00:16:49,240 --> 00:16:51,160 Speaker 3: No, no, a bit longer because you were so dull 302 00:16:51,200 --> 00:16:53,080 Speaker 3: the last time around, or like you got to the 303 00:16:53,200 --> 00:16:55,280 Speaker 3: end of it, then you went your extra twenty seconds 304 00:16:55,440 --> 00:16:58,080 Speaker 3: and it's like, oh, it's sort of it's not very 305 00:16:58,080 --> 00:17:00,240 Speaker 3: interesting when he's actually trying to be serious. 306 00:17:00,840 --> 00:17:03,400 Speaker 1: So go for it, thank you. Okay, I'm still I'm 307 00:17:03,400 --> 00:17:05,920 Speaker 1: going to do this in forty five seconds. In that case, 308 00:17:06,240 --> 00:17:07,720 Speaker 1: I don't know whether it's going to make me any 309 00:17:07,800 --> 00:17:14,720 Speaker 1: less dull, but starting now, go mortgage fraud, Right, this 310 00:17:14,960 --> 00:17:20,440 Speaker 1: is big potentially if it is maybe maybe it could 311 00:17:20,520 --> 00:17:25,240 Speaker 1: be big, right Commonwealth Bank. Commonwealth Bank commissioned a report. 312 00:17:25,240 --> 00:17:28,560 Speaker 1: We heard about this this week from Equifax there and 313 00:17:29,359 --> 00:17:31,280 Speaker 1: it was originally thought that the mortgage fraud scandal and 314 00:17:31,320 --> 00:17:34,120 Speaker 1: we've talked about that in the past could be worth 315 00:17:34,160 --> 00:17:39,000 Speaker 1: a billion dollars. Now though it might be much much bigger, 316 00:17:39,240 --> 00:17:43,360 Speaker 1: so it could potentially become a much bigger story. Customers. 317 00:17:43,400 --> 00:17:44,600 Speaker 1: This is all about customers using. 318 00:17:44,880 --> 00:17:46,880 Speaker 3: Sorry, it could become a story because we don't even 319 00:17:46,880 --> 00:17:47,679 Speaker 3: know what the story yet. 320 00:17:47,800 --> 00:17:50,919 Speaker 1: Yeah, it self fits perfectly into the category. Right, this 321 00:17:51,359 --> 00:17:56,560 Speaker 1: is a bullseye. Customers using fraudulent documents, including AI generated 322 00:17:56,640 --> 00:17:59,639 Speaker 1: things to take out Commonwealth Bank loans and this was 323 00:17:59,720 --> 00:18:02,760 Speaker 1: just for the Comwealth Bank site. Turns out might have 324 00:18:02,840 --> 00:18:07,200 Speaker 1: also done it elsewhere. And it feels like you're about 325 00:18:07,240 --> 00:18:09,080 Speaker 1: to say something, sure, and you have that very kind 326 00:18:09,080 --> 00:18:14,239 Speaker 1: of im pensive watching the time out. Oh no, no, that 327 00:18:14,320 --> 00:18:16,760 Speaker 1: was paused. That was like a time out just then 328 00:18:17,359 --> 00:18:20,520 Speaker 1: and start the time again, and I'll start it from 329 00:18:20,600 --> 00:18:24,560 Speaker 1: zero again because I think that's only fair. And the 330 00:18:24,680 --> 00:18:28,480 Speaker 1: use of large international deposits are red flag for money laundering. 331 00:18:28,560 --> 00:18:30,920 Speaker 1: So all of a sudden, everyone is worried about this. 332 00:18:31,040 --> 00:18:33,760 Speaker 1: Ostrak is very worried about it. We heard late in 333 00:18:33,800 --> 00:18:35,959 Speaker 1: the week that they had kind of called in ten 334 00:18:36,040 --> 00:18:38,239 Speaker 1: of the biggest banks getting all of the information, not 335 00:18:38,240 --> 00:18:40,359 Speaker 1: saying that those banks had been involved, but they're just 336 00:18:40,400 --> 00:18:42,280 Speaker 1: trying to get an idea of what is going on 337 00:18:42,320 --> 00:18:45,359 Speaker 1: across the industry because this has the potential to snowball 338 00:18:45,680 --> 00:18:48,959 Speaker 1: that it could be very very, very very big. Indeed, 339 00:18:48,960 --> 00:18:51,880 Speaker 1: and Equifax actually put out another report through the week 340 00:18:51,960 --> 00:18:57,800 Speaker 1: showing that individuals manipulating their own loan applications to secure credit. 341 00:18:57,880 --> 00:19:00,520 Speaker 1: A twenty five percent year on year increase in first 342 00:19:00,520 --> 00:19:03,399 Speaker 1: party fraud, so that might go well beyond kind of 343 00:19:03,440 --> 00:19:08,320 Speaker 1: this big picture organized crime, international money laundering, mortgage fraud. 344 00:19:09,680 --> 00:19:12,600 Speaker 1: There you go, and all done in forty seven seconds, 345 00:19:12,680 --> 00:19:13,280 Speaker 1: two minutes. 346 00:19:14,760 --> 00:19:17,280 Speaker 3: Like I'm not, I'm not really across the story like 347 00:19:17,280 --> 00:19:20,040 Speaker 3: I should be. Are they buying that because they're definitely 348 00:19:20,080 --> 00:19:21,879 Speaker 3: repaying the loan, so it's not an issue of not 349 00:19:21,920 --> 00:19:24,720 Speaker 3: being repaid. So they're buying a house. So they're buying 350 00:19:24,720 --> 00:19:29,080 Speaker 3: a million dollar house, repaying it really quickly, selling the house, 351 00:19:29,280 --> 00:19:31,800 Speaker 3: and suddenly the money is clean. It's at the kind 352 00:19:31,800 --> 00:19:32,440 Speaker 3: of gist of it. 353 00:19:32,680 --> 00:19:35,320 Speaker 1: I don't even think it was actually repaying it necessarily 354 00:19:35,359 --> 00:19:38,080 Speaker 1: that quickly. It is. I thought it was just the 355 00:19:38,200 --> 00:19:41,600 Speaker 1: use of a large international deposit to do it. But 356 00:19:41,800 --> 00:19:45,360 Speaker 1: even just that constant payment of money into it has 357 00:19:45,400 --> 00:19:50,080 Speaker 1: the ability to launder money regularly. 358 00:19:50,119 --> 00:19:53,880 Speaker 3: Presumably that presumably that they want money tied up in housing. 359 00:19:54,800 --> 00:19:58,960 Speaker 1: Not. No, it's curious. It's I think it's fascinating. It's curious. 360 00:19:59,000 --> 00:20:00,840 Speaker 1: And if it is the story, yeah, it has like 361 00:20:00,880 --> 00:20:01,520 Speaker 1: a year trade. 362 00:20:01,960 --> 00:20:04,119 Speaker 2: If it is a story, yeah, does it depend on 363 00:20:04,160 --> 00:20:06,719 Speaker 2: whether or not you're a patient criminal, if you're planning 364 00:20:06,760 --> 00:20:07,400 Speaker 2: for the long time. 365 00:20:07,880 --> 00:20:10,399 Speaker 1: I like that. I like some criminals. This is a 366 00:20:10,480 --> 00:20:11,000 Speaker 1: very good point. 367 00:20:11,640 --> 00:20:14,920 Speaker 3: Some criminals, you know, they're not interested in just smashing 368 00:20:14,920 --> 00:20:16,720 Speaker 3: and grabbing the local corner store and taking the money 369 00:20:16,760 --> 00:20:17,160 Speaker 3: and running. 370 00:20:17,240 --> 00:20:23,840 Speaker 1: Yeah, the twenty five year strategy. Yeah, but the kids 371 00:20:23,840 --> 00:20:26,000 Speaker 1: through school. It's the kind of crime that they would 372 00:20:26,000 --> 00:20:28,920 Speaker 1: ten year strategy. They'd never make a movie out of it, though, 373 00:20:28,960 --> 00:20:31,520 Speaker 1: would they like, because you think like movies like it's 374 00:20:31,560 --> 00:20:33,800 Speaker 1: all about kind of like a bank heist or that 375 00:20:33,920 --> 00:20:35,280 Speaker 1: kind of movie. 376 00:20:35,320 --> 00:20:35,560 Speaker 2: Though. 377 00:20:36,320 --> 00:20:40,040 Speaker 1: Yeah, this is a very very long long movie. It's 378 00:20:40,040 --> 00:20:42,640 Speaker 1: a long series. Let's check in on how the mortgage 379 00:20:42,680 --> 00:20:43,440 Speaker 1: fraud is going. 380 00:20:44,119 --> 00:20:48,800 Speaker 3: Yeah, like someone like Nicole Kidman in it, because she 381 00:20:48,960 --> 00:20:51,840 Speaker 3: seems to be able to manage to play both a 382 00:20:51,920 --> 00:20:53,120 Speaker 3: twenty five year old end. 383 00:20:53,040 --> 00:20:55,600 Speaker 1: Of fifty five year old. Yeah, so you. 384 00:20:55,640 --> 00:20:59,560 Speaker 3: Want someone who could really very skilled follow someone for 385 00:20:59,600 --> 00:21:01,440 Speaker 3: the full life of a thirty year mortgage. 386 00:21:04,640 --> 00:21:14,560 Speaker 2: Yeah, so the kind of sleeper story category. Sean wins this. 387 00:21:15,680 --> 00:21:15,880 Speaker 1: Look. 388 00:21:15,920 --> 00:21:18,359 Speaker 2: I was just wondering too. With fuel prices rocketing, will 389 00:21:18,480 --> 00:21:20,879 Speaker 2: will the plane still make it? Will Ursula von de 390 00:21:21,000 --> 00:21:24,200 Speaker 2: Layne make it to Australia? Sean with all these. 391 00:21:24,119 --> 00:21:25,960 Speaker 3: Norm you might make it an Indonesia and do a 392 00:21:25,960 --> 00:21:28,639 Speaker 3: free trade deal with the Indos rather than Australian because 393 00:21:28,680 --> 00:21:32,080 Speaker 3: she got there. I've got to have Underlayan knew she 394 00:21:32,160 --> 00:21:35,240 Speaker 3: has to do a free trade deal and suddenly does it. 395 00:21:35,320 --> 00:21:36,919 Speaker 1: You know, the way you say it is our starting 396 00:21:36,920 --> 00:21:41,760 Speaker 1: to sound a little bit trump esque when you say, 397 00:21:42,160 --> 00:21:42,439 Speaker 1: isn't it. 398 00:21:42,480 --> 00:21:45,240 Speaker 3: A great name that like, you know, buts Butris Galali 399 00:21:45,640 --> 00:21:50,159 Speaker 3: that was a seriously good name obviously, Ursula von Delayane. 400 00:21:50,359 --> 00:21:53,760 Speaker 3: I actually think like as a prime minister, Keir Starmer, 401 00:21:54,640 --> 00:22:00,120 Speaker 3: it's got some very good yeah, Emanuel Macran, Yeah. 402 00:22:00,000 --> 00:22:02,800 Speaker 2: But Bross Galley was kind of top notch for me. 403 00:22:02,880 --> 00:22:03,720 Speaker 2: Coffee and none. 404 00:22:04,040 --> 00:22:07,040 Speaker 1: I also like, yeah, yeah, all the un guys are good. 405 00:22:07,480 --> 00:22:12,640 Speaker 2: Yeah, it's a prerequisent. Yeah, Sean, you when I think, 406 00:22:12,680 --> 00:22:15,480 Speaker 2: you know, for for Australia and how we're navigating this 407 00:22:15,680 --> 00:22:19,840 Speaker 2: geopolitical environment and doing a good free trade deal with Europe, 408 00:22:20,400 --> 00:22:22,919 Speaker 2: very opportunistic. If this can come off, it's awesome. So 409 00:22:22,960 --> 00:22:24,040 Speaker 2: I'd love to see that happen. 410 00:22:24,800 --> 00:22:26,600 Speaker 3: So you would probably for that if it does come 411 00:22:26,640 --> 00:22:28,440 Speaker 3: after on the week. Next week is the biggest story 412 00:22:28,480 --> 00:22:29,000 Speaker 3: of the week. 413 00:22:30,800 --> 00:22:33,199 Speaker 2: Very strong favorite, can I put it that way? 414 00:22:33,680 --> 00:22:39,879 Speaker 3: Oh, weekly get hopefully we get capital gains tax reform 415 00:22:39,960 --> 00:22:42,400 Speaker 3: this week as well each other. 416 00:22:42,600 --> 00:22:45,600 Speaker 2: You have pre judged Titanic battle. 417 00:22:46,480 --> 00:22:49,200 Speaker 1: I suspected there was collusion in the air, and now 418 00:22:49,280 --> 00:22:53,679 Speaker 1: I know it. This is disgraceful. Two one, would you 419 00:22:53,720 --> 00:22:55,960 Speaker 1: like me to go? Well? Do you want to go first? 420 00:22:55,960 --> 00:22:58,920 Speaker 1: In the favorite story? I feel like is there even 421 00:22:58,960 --> 00:23:01,239 Speaker 1: any point? This is probably already been decided. Who's going 422 00:23:01,280 --> 00:23:01,960 Speaker 1: to win this one? 423 00:23:02,000 --> 00:23:02,200 Speaker 2: Too? 424 00:23:02,600 --> 00:23:05,639 Speaker 1: Right between the two of you stitched everything up. It 425 00:23:05,680 --> 00:23:08,480 Speaker 1: has been the first thing I'm going to thirty seconds, 426 00:23:08,680 --> 00:23:09,240 Speaker 1: Adam to. 427 00:23:09,440 --> 00:23:11,720 Speaker 2: One, you could still you could still. 428 00:23:11,720 --> 00:23:14,680 Speaker 1: Still win, Michael, Yeah, no, no, I don't think I can. 429 00:23:14,880 --> 00:23:17,399 Speaker 1: Have you already pre filled the scorecard as well, like 430 00:23:17,440 --> 00:23:20,399 Speaker 1: as it already got. You are like a patillant child, Michael, 431 00:23:20,480 --> 00:23:24,560 Speaker 1: a petulant child. No, Okay, it is blank invisible ink. 432 00:23:24,680 --> 00:23:28,560 Speaker 1: Maybe an extraordinary week, Adam, And this one's just for you, 433 00:23:28,920 --> 00:23:33,080 Speaker 1: knowing your subjective bias. An extraordinary week for radio in 434 00:23:33,119 --> 00:23:33,719 Speaker 1: this country? 435 00:23:33,800 --> 00:23:37,480 Speaker 2: Okay, yes, have we done this one before? 436 00:23:38,440 --> 00:23:43,639 Speaker 1: It was? It was done earlier in the month. Now 437 00:23:43,720 --> 00:23:46,119 Speaker 1: it has come to an end, and in thirty seconds, 438 00:23:46,480 --> 00:23:51,320 Speaker 1: Kyle Sandalans terminated by ARN after two weeks suspension. That's 439 00:23:51,359 --> 00:23:54,399 Speaker 1: what happened this week. Two hundred million dollar deal for 440 00:23:54,480 --> 00:23:58,120 Speaker 1: Kyle and Jackie O gone. Where will he end up? 441 00:23:58,280 --> 00:24:00,560 Speaker 1: Will he go to talk radio? Will be on another 442 00:24:00,640 --> 00:24:03,200 Speaker 1: radio station? Altogether, We'll stay and Radisa. Will we start 443 00:24:03,200 --> 00:24:05,280 Speaker 1: a podcast? Will he join Fear and Greed? Will he 444 00:24:05,359 --> 00:24:08,720 Speaker 1: be paid out? This is going to be a legal 445 00:24:08,920 --> 00:24:11,720 Speaker 1: battle for the ages. It is a very good time 446 00:24:11,760 --> 00:24:14,480 Speaker 1: to be either a media lawyer or an employment lawyer 447 00:24:14,520 --> 00:24:17,080 Speaker 1: I suspect in Australia if you're going to be involved 448 00:24:17,080 --> 00:24:19,760 Speaker 1: in that one. And also, Adam, just out of interest, 449 00:24:19,840 --> 00:24:22,680 Speaker 1: thought you might be interested to see the radio ratings 450 00:24:22,720 --> 00:24:24,920 Speaker 1: came out this week, which are always fascinating to those 451 00:24:25,920 --> 00:24:30,919 Speaker 1: in the space. And interestingly, Kyl and Jackie O continued 452 00:24:30,960 --> 00:24:34,639 Speaker 1: to tank in Melbourne, so that whole thing was a 453 00:24:34,880 --> 00:24:38,520 Speaker 1: was a bust it seems, and a shaky start. Interestingly, 454 00:24:38,960 --> 00:24:41,680 Speaker 1: and this is I know very specific now for Adam, 455 00:24:42,000 --> 00:24:45,720 Speaker 1: but a shaky start for another networked breakfast show going 456 00:24:45,760 --> 00:24:47,359 Speaker 1: the other way, because we were talking about Carl and 457 00:24:47,400 --> 00:24:50,520 Speaker 1: Jackie oh not not succeeding going from Sydney into Melbourne, 458 00:24:50,640 --> 00:24:58,040 Speaker 1: but Melbourne and Christian O'Connell from Gold Broadcasting into Sydney. God, 459 00:24:58,119 --> 00:24:59,879 Speaker 1: this is in the weeds isn't it. No, it's not, 460 00:25:00,160 --> 00:25:03,199 Speaker 1: because you know what it goes to like loving it? 461 00:25:03,800 --> 00:25:07,119 Speaker 1: This this idea in radio. Of course, the breakfast in 462 00:25:07,160 --> 00:25:11,520 Speaker 1: particular needs to be local and networked. Breakfast shows don't work, 463 00:25:12,040 --> 00:25:14,600 Speaker 1: and everyone thinks, okay, there are exceptions to the rule, 464 00:25:14,880 --> 00:25:17,879 Speaker 1: but at the moment the exceptions do not appear to 465 00:25:17,960 --> 00:25:19,880 Speaker 1: be exceptional, and they do not appear to be working. 466 00:25:19,960 --> 00:25:21,760 Speaker 1: And look, Christian O'Connor will just need a bit of time, 467 00:25:21,800 --> 00:25:24,159 Speaker 1: I suspect go from Melbourne to Sydney. But it is 468 00:25:24,200 --> 00:25:27,200 Speaker 1: a fascinating time in the radio industry and a spectacularly 469 00:25:27,240 --> 00:25:32,680 Speaker 1: fascinating an extraordinary week. Sean over to you, good thirty seconds, 470 00:25:32,680 --> 00:25:36,000 Speaker 1: well done, Oh the biggest No, what is it? What's 471 00:25:36,000 --> 00:25:38,400 Speaker 1: a category? It's quite it. 472 00:25:38,640 --> 00:25:42,840 Speaker 3: I love the fact right that men are flooding into 473 00:25:42,840 --> 00:25:45,920 Speaker 3: the beauty industry. 474 00:25:45,400 --> 00:25:50,080 Speaker 1: According to President yes, totally. 475 00:25:50,200 --> 00:25:55,159 Speaker 3: Well, you know, obviously, one in three people men are 476 00:25:55,240 --> 00:25:59,240 Speaker 3: using makeup. There's Adam, there's Michael, and there's Sean. 477 00:26:00,000 --> 00:26:02,640 Speaker 1: And only one of us has a lawless complexion under 478 00:26:02,680 --> 00:26:05,440 Speaker 1: these harsh studio lights, mister lang. 479 00:26:10,119 --> 00:26:11,760 Speaker 3: So in twenty ninety less and ten percent of the 480 00:26:11,840 --> 00:26:16,200 Speaker 3: US males will makeup now it's definitely over twenty five percent. 481 00:26:16,680 --> 00:26:20,480 Speaker 3: The share of jen Z men who report using facial 482 00:26:20,520 --> 00:26:24,400 Speaker 3: skincare products also jumped sixty eight percent in two years 483 00:26:24,400 --> 00:26:27,920 Speaker 3: to twenty twenty four. It's certainly eighteen to thirty four 484 00:26:28,000 --> 00:26:30,600 Speaker 3: year olds like it. Retailers have responded bulking up their 485 00:26:30,680 --> 00:26:33,760 Speaker 3: men's offering, dialing back gender distinction, which is kind of 486 00:26:33,760 --> 00:26:38,080 Speaker 3: really interesting. So it's a more neutral presentation now. Not 487 00:26:38,800 --> 00:26:40,919 Speaker 3: totally surprising in a way because in the old days 488 00:26:41,480 --> 00:26:43,320 Speaker 3: makeup was a man's thing. 489 00:26:43,440 --> 00:26:46,040 Speaker 1: Think you know, ancient Egypt, that type of god. You 490 00:26:46,119 --> 00:26:47,359 Speaker 1: are going to the olden days? 491 00:26:47,440 --> 00:26:52,080 Speaker 3: Yeah we are, but but but but subjective bias. David 492 00:26:52,119 --> 00:26:57,000 Speaker 3: Bowie one of the truly great makeup wearers more seventies 493 00:26:57,600 --> 00:27:03,760 Speaker 3: now more recently Harry Styles, Timothy Shalomay all big on makeup. 494 00:27:04,280 --> 00:27:08,000 Speaker 3: It's become a trend. My favorite part of this story, 495 00:27:08,000 --> 00:27:12,280 Speaker 3: and this one is for you two. Turkey has become 496 00:27:12,280 --> 00:27:16,399 Speaker 3: a haven for men wanting hair transplants, as Michael called it. 497 00:27:16,560 --> 00:27:19,000 Speaker 3: Please over to you, Michael, Oh. 498 00:27:18,880 --> 00:27:19,200 Speaker 4: What was it? 499 00:27:19,320 --> 00:27:22,600 Speaker 1: The Turkish is in hot demand. 500 00:27:22,720 --> 00:27:25,520 Speaker 3: Yes, so you can about twenty one thousand bucks for 501 00:27:25,520 --> 00:27:29,720 Speaker 3: a hair transplant in the US or six thousand in Turkey, 502 00:27:29,720 --> 00:27:32,959 Speaker 3: and in Turkey you get the luxury hotels, day translator, 503 00:27:33,080 --> 00:27:36,719 Speaker 3: sightseeing towards a whole bit. Apparently one million people traveled 504 00:27:36,760 --> 00:27:39,240 Speaker 3: to Turkey each year for hair transplants. 505 00:27:39,320 --> 00:27:40,000 Speaker 1: Just phenomenon. 506 00:27:40,080 --> 00:27:42,440 Speaker 3: Now, Adam, as you put your head down there and 507 00:27:42,440 --> 00:27:46,920 Speaker 3: writing ferociously, I'm just I'm I'm just saying. If you've 508 00:27:46,960 --> 00:27:49,439 Speaker 3: got any friends and thinking about it, Michael, don't you 509 00:27:49,480 --> 00:27:51,440 Speaker 3: laugh so much. Some of us already there, some of 510 00:27:51,480 --> 00:27:54,560 Speaker 3: us already had our trips to Turkey and failed, right, 511 00:27:54,880 --> 00:27:56,160 Speaker 3: but transplant didn't take. 512 00:27:56,920 --> 00:27:57,640 Speaker 1: It didn't take. 513 00:27:58,640 --> 00:28:01,760 Speaker 3: I do think it's really fascinating, the shift in cosmetics, 514 00:28:01,800 --> 00:28:05,159 Speaker 3: like something that men always used to do and middle. 515 00:28:06,480 --> 00:28:13,040 Speaker 1: Used to do in the Pyramids. Fascinating story, how you, Adam, 516 00:28:13,160 --> 00:28:16,080 Speaker 1: I think it is, Actually it is. 517 00:28:17,560 --> 00:28:21,200 Speaker 2: Yeah, Sean wins as much as equal. 518 00:28:20,920 --> 00:28:25,240 Speaker 1: Opportunity like that chance the radio wars. 519 00:28:25,160 --> 00:28:28,480 Speaker 2: So well, it's just such a niche and my sort 520 00:28:28,520 --> 00:28:29,000 Speaker 2: of thing. 521 00:28:29,160 --> 00:28:36,359 Speaker 1: But outside paid the highest paid the media personality in 522 00:28:36,400 --> 00:28:39,880 Speaker 1: the country. If you had a CEO who was on 523 00:28:40,080 --> 00:28:42,719 Speaker 1: ten million dollars a year, which Kyle is on, and 524 00:28:42,760 --> 00:28:46,400 Speaker 1: he got terminated in the most spectacular fashion, as happened 525 00:28:46,400 --> 00:28:49,680 Speaker 1: to Carl Sandelanz this week. That would be a remarkable 526 00:28:49,680 --> 00:28:52,600 Speaker 1: So that would be an incredible story. But for some reason, 527 00:28:52,640 --> 00:28:55,680 Speaker 1: because of this invisible collusion between the two of you, 528 00:28:56,120 --> 00:29:00,720 Speaker 1: I am being ruled against in a pre pre category. 529 00:29:01,360 --> 00:29:05,840 Speaker 1: It's not invisible. Ah, Rise up, Rise up. This is 530 00:29:05,920 --> 00:29:09,880 Speaker 1: for all the people. Do not accept this. This is nonsense. 531 00:29:10,680 --> 00:29:13,600 Speaker 1: So sorry, Adam Gollan, give you a judgment. 532 00:29:16,440 --> 00:29:20,360 Speaker 2: It is an absolutely fascinating spectacle and it's been headlines 533 00:29:20,400 --> 00:29:24,440 Speaker 2: for weeks right and it will remain headlines for some time, 534 00:29:25,120 --> 00:29:28,800 Speaker 2: I think. But as big as that is in that 535 00:29:28,920 --> 00:29:34,600 Speaker 2: part of the business world, equal opportunity makeup and the 536 00:29:34,680 --> 00:29:40,959 Speaker 2: industrial change for cosmetics for men I think is actually 537 00:29:41,000 --> 00:29:44,800 Speaker 2: a really good thing and it's a huge in terms 538 00:29:44,800 --> 00:29:47,880 Speaker 2: of business opportunity. So, Michael, you and I went out 539 00:29:47,920 --> 00:29:52,880 Speaker 2: with lrel on the Sale GP experience in Sydney and 540 00:29:52,960 --> 00:29:53,960 Speaker 2: it was just incredible. 541 00:29:53,960 --> 00:29:58,200 Speaker 5: But what I learned from Loreal wearing makeup no that 542 00:29:58,320 --> 00:30:02,240 Speaker 5: was obvious to them, oh god yes, and did actually 543 00:30:02,320 --> 00:30:06,760 Speaker 5: wear some protection, yes, but they what I learned about 544 00:30:06,840 --> 00:30:10,600 Speaker 5: cosmetics and for men was oh god, I really need 545 00:30:10,600 --> 00:30:12,960 Speaker 5: to pay a lot more attention here because it's a 546 00:30:13,040 --> 00:30:15,840 Speaker 5: growing and it's a growing opportunity and a huge business. 547 00:30:15,960 --> 00:30:19,280 Speaker 2: So and Michael, you're line during the week, the Turkish 548 00:30:19,360 --> 00:30:22,400 Speaker 2: rug I think they had a special place in my 549 00:30:22,480 --> 00:30:24,520 Speaker 2: travel this week. I had a good laugh at that. 550 00:30:25,080 --> 00:30:27,120 Speaker 2: So yeah, Shawn Weeds. 551 00:30:28,440 --> 00:30:34,320 Speaker 1: Three one, three to one landslide, I are bolical. What 552 00:30:34,480 --> 00:30:41,160 Speaker 1: was the breakdown? What was the score breakdown? It was 553 00:30:41,160 --> 00:30:43,120 Speaker 1: three to one and I lost on interest rates? 554 00:30:43,360 --> 00:30:49,560 Speaker 2: Wow, Yeah, isn't that incredible? Ninety one Sean eighty eight Michael, 555 00:30:49,720 --> 00:30:53,040 Speaker 2: So very close topsy Turvy scorecard this week. 556 00:30:53,040 --> 00:30:59,040 Speaker 1: Not close. This is nonsense, Okay, isn't it. No? Anyway 557 00:30:59,280 --> 00:31:02,320 Speaker 1: where you're going to I'm going to order that, I'm 558 00:31:02,360 --> 00:31:04,360 Speaker 1: going to have a very close look and make sure 559 00:31:04,400 --> 00:31:05,600 Speaker 1: that it has been added correctly. 560 00:31:07,000 --> 00:31:09,040 Speaker 2: God is coming. Look. 561 00:31:09,080 --> 00:31:13,160 Speaker 1: Thank you very much, Sean, Thank you, Michael, thank you, Adam, Thanks. 562 00:31:13,000 --> 00:31:16,520 Speaker 2: Adam, thank you, Michael, thank you Sean. 563 00:31:16,600 --> 00:31:18,320 Speaker 1: I didn't mean that. I didn't mean that to sound 564 00:31:18,480 --> 00:31:21,080 Speaker 1: quite as petulant as it came out. Sometimes, just as 565 00:31:21,120 --> 00:31:23,719 Speaker 1: it was, you cannot hide the way you're feeling. Make 566 00:31:23,760 --> 00:31:25,800 Speaker 1: sure you're following the podcast and head to Fear and 567 00:31:25,880 --> 00:31:27,600 Speaker 1: Greed dot com today you to sign up for our 568 00:31:27,640 --> 00:31:30,360 Speaker 1: free daily newsletter. I'm Michael Thompson, and that was fear 569 00:31:30,440 --> 00:31:31,880 Speaker 1: and greed for a great weekend.