1 00:00:06,040 --> 00:00:08,559 Speaker 1: This is the weekend edition of Fear and Greed, daily 2 00:00:08,600 --> 00:00:11,160 Speaker 1: business news for people who make their own decisions. I'm 3 00:00:11,200 --> 00:00:15,200 Speaker 1: Michael Thompson and good morning Sean Aylmer. Good morning, Michael, Sean. 4 00:00:15,240 --> 00:00:16,919 Speaker 1: Our weekend show is all about the two of us, 5 00:00:16,920 --> 00:00:19,640 Speaker 1: each nominating what we think is the biggest business story 6 00:00:19,720 --> 00:00:24,000 Speaker 1: of the week, the most remarkable business story, a mystery 7 00:00:24,320 --> 00:00:27,000 Speaker 1: category that changes every week to keep our judge on 8 00:00:27,080 --> 00:00:29,800 Speaker 1: his toes, and our favorite business story. We are, of 9 00:00:29,800 --> 00:00:32,640 Speaker 1: course joined by a judge. As I mentioned that judge 10 00:00:32,680 --> 00:00:35,520 Speaker 1: is our Fear and Greed colleague, Adam Lang Adam, good morning. 11 00:00:35,680 --> 00:00:37,360 Speaker 2: Good morning Michael, and good morning Sean. 12 00:00:37,800 --> 00:00:42,880 Speaker 1: Morning My like a friend, you too have been gallivanting 13 00:00:42,920 --> 00:00:45,720 Speaker 1: around the studio in the last few days preparing for 14 00:00:46,600 --> 00:00:47,959 Speaker 1: so are we allowed to talk about it or we're 15 00:00:47,960 --> 00:00:49,280 Speaker 1: going to do a big reveal next week. 16 00:00:50,320 --> 00:00:53,160 Speaker 3: Actually, let's do a soft reveal now and big reveal 17 00:00:53,200 --> 00:00:53,519 Speaker 3: next week. 18 00:00:53,600 --> 00:00:57,040 Speaker 2: Okay, all right, because much like our clothing, very soft, 19 00:00:57,360 --> 00:00:57,600 Speaker 2: like a. 20 00:00:57,920 --> 00:01:02,640 Speaker 1: Lot of revealing. You are both taking part in a 21 00:01:02,800 --> 00:01:05,440 Speaker 1: very long bike ride for a very good cause. 22 00:01:05,360 --> 00:01:09,399 Speaker 3: Three hundred and eighty kilometers from Burke to Koba to 23 00:01:10,440 --> 00:01:13,480 Speaker 3: Ningen to Narrow Mine in western New South Wales for 24 00:01:13,520 --> 00:01:17,640 Speaker 3: a charity called Royal Far West. It helps kids in Victoria, Queensland, 25 00:01:17,640 --> 00:01:20,360 Speaker 3: Western Australian New South Wales, trying to raise fifty thousand dollars. 26 00:01:20,400 --> 00:01:21,039 Speaker 2: We are at. 27 00:01:21,840 --> 00:01:25,039 Speaker 3: Yeah, all about helping kids who really don't quite get 28 00:01:25,080 --> 00:01:27,760 Speaker 3: the chance that many kids in the city get. So 29 00:01:28,560 --> 00:01:31,680 Speaker 3: we have started wearing licra to the studio and Michael 30 00:01:31,959 --> 00:01:35,440 Speaker 3: to his generosity. Basically, we're all going to do it. 31 00:01:35,640 --> 00:01:37,520 Speaker 3: They're taking the raid on the show and someone pointed 32 00:01:37,560 --> 00:01:39,360 Speaker 3: out with someone has to be in the studio. Michael 33 00:01:39,360 --> 00:01:40,880 Speaker 3: could not get his hand up fast enough. 34 00:01:40,959 --> 00:01:43,199 Speaker 1: Oh, one person has to take take one for the team. 35 00:01:43,360 --> 00:01:46,039 Speaker 1: And I've said I will stay behind on my own 36 00:01:46,360 --> 00:01:51,000 Speaker 1: in the studio and just be the rock, the anchor 37 00:01:51,120 --> 00:01:53,760 Speaker 1: for this team. But you two will be doing the hard. 38 00:01:53,520 --> 00:01:56,120 Speaker 2: Work sound and without saddle. 39 00:01:56,600 --> 00:01:58,800 Speaker 1: That's right, But it feels like I'm the one being 40 00:01:58,800 --> 00:02:00,760 Speaker 1: punished though, because I now have to watch the two 41 00:02:00,800 --> 00:02:04,040 Speaker 1: of you walk around in your micro Comparing how it feels. 42 00:02:03,760 --> 00:02:05,760 Speaker 3: I'd say more like strut around. I don't think we're 43 00:02:05,760 --> 00:02:06,960 Speaker 3: walking with strutting. 44 00:02:06,680 --> 00:02:10,000 Speaker 1: Yes, And it's very reminiscent of the infamous ned Flanders 45 00:02:10,760 --> 00:02:14,400 Speaker 1: skiing scene from the Simpsons, whereas in skin tight and 46 00:02:14,520 --> 00:02:16,840 Speaker 1: a ski suit talking about how it feels like he's 47 00:02:16,880 --> 00:02:20,239 Speaker 1: wearing nothing at all. Anyway, I'll leave that. Maybe we'll 48 00:02:20,320 --> 00:02:22,799 Speaker 1: use that image on social media. Yes, actually, now we're 49 00:02:22,800 --> 00:02:25,560 Speaker 1: trying to attract donations. Yeah, all right, anyway, I'm with 50 00:02:25,600 --> 00:02:27,640 Speaker 1: the show. But yes, head to our socials. Go to 51 00:02:27,680 --> 00:02:30,760 Speaker 1: Instagram is probably the best bet. Fear and Greed podcast 52 00:02:30,800 --> 00:02:33,480 Speaker 1: on Instagram, also LinkedIn and others, and you can find 53 00:02:34,720 --> 00:02:37,680 Speaker 1: all of the pictures and videos if you would like to. 54 00:02:38,200 --> 00:02:40,760 Speaker 2: Yeh, So, I haven't ridden a bike in thirty five years, 55 00:02:40,800 --> 00:02:42,520 Speaker 2: and it took me a lot to get back on this, 56 00:02:42,560 --> 00:02:44,880 Speaker 2: but this is a great cause. So Royal far West 57 00:02:45,040 --> 00:02:48,880 Speaker 2: is an awesome cause. Three days of biking a lot 58 00:02:48,880 --> 00:02:52,600 Speaker 2: of kilometers, sean. So I'm just getting in preparation now. 59 00:02:52,639 --> 00:02:55,800 Speaker 2: We've got two months basically, yeah, only two months ago. 60 00:02:56,040 --> 00:02:58,080 Speaker 1: I love the idea of you not having ridden a 61 00:02:58,080 --> 00:03:01,320 Speaker 1: bike for thirty five years, say, just like riding a 62 00:03:01,360 --> 00:03:02,600 Speaker 1: bike and get back. 63 00:03:02,639 --> 00:03:05,800 Speaker 2: And that's how Mike's have changed a little. I have 64 00:03:05,880 --> 00:03:09,760 Speaker 2: gears now and breaks. They're much lighter. 65 00:03:09,360 --> 00:03:12,160 Speaker 1: And the wheels aren't made of wood. 66 00:03:12,639 --> 00:03:15,560 Speaker 3: Adam was riding at Charot I can't find the tassels 67 00:03:15,560 --> 00:03:16,520 Speaker 3: off the handlebars. 68 00:03:17,080 --> 00:03:20,080 Speaker 1: You can add your own tassels. Let's do this, shall 69 00:03:20,120 --> 00:03:23,000 Speaker 1: we you're judging criteria. We out here for a competition. 70 00:03:23,040 --> 00:03:23,760 Speaker 1: What are you looking for. 71 00:03:23,800 --> 00:03:27,280 Speaker 2: To toplicality and timeliness of course economic impact. Because we 72 00:03:27,320 --> 00:03:30,560 Speaker 2: are a business news focus show, I'd really like to 73 00:03:30,600 --> 00:03:33,160 Speaker 2: see a little bit of playing to my subjective bias 74 00:03:33,240 --> 00:03:35,200 Speaker 2: and please melodrama. 75 00:03:36,240 --> 00:03:37,440 Speaker 1: Okay, I can do that. 76 00:03:37,800 --> 00:03:39,720 Speaker 3: I think you can do melodrama. Mikel You start us 77 00:03:39,760 --> 00:03:40,880 Speaker 3: off with the biggest story of the week. 78 00:03:40,920 --> 00:03:43,080 Speaker 1: Well, I will because there was only one bigger story 79 00:03:43,280 --> 00:03:44,960 Speaker 1: and it is the one that I've chosen. It is 80 00:03:45,000 --> 00:03:47,600 Speaker 1: the week this week that Australia realized that it is 81 00:03:47,640 --> 00:03:50,320 Speaker 1: not actually that special in the eyes of the world, 82 00:03:50,320 --> 00:03:53,520 Speaker 1: and particularly in the eyes of the US. It would 83 00:03:53,520 --> 00:03:55,720 Speaker 1: have been a particularly rude awakening, you would think for 84 00:03:56,200 --> 00:04:00,440 Speaker 1: Prime Minister Anthony Obneasy, Opposition leader Peter Dutton, US President 85 00:04:00,640 --> 00:04:03,880 Speaker 1: Donald Trump refusing to give Australia an exemption on the 86 00:04:03,920 --> 00:04:06,760 Speaker 1: twenty five percent tariffs for steel and aluminium exports. This 87 00:04:06,800 --> 00:04:08,720 Speaker 1: has been going on for weeks the build up to 88 00:04:08,760 --> 00:04:11,400 Speaker 1: this this week. It actually happened right there was a 89 00:04:11,400 --> 00:04:14,160 Speaker 1: phone call from Albow to Trump and the exemption was 90 00:04:14,160 --> 00:04:17,200 Speaker 1: being considered, and Albo tried to make more calls the 91 00:04:17,240 --> 00:04:20,520 Speaker 1: closer we got, and Trump wouldn't take the calls. There 92 00:04:20,560 --> 00:04:22,560 Speaker 1: was no like like. There was so many attempts to 93 00:04:22,600 --> 00:04:25,120 Speaker 1: try and secure an exemption, even with our trade deficit 94 00:04:25,240 --> 00:04:26,800 Speaker 1: to the US, there was this hope that it would 95 00:04:26,800 --> 00:04:30,120 Speaker 1: actually happen. Steal our aluminium in the grand scheme of things, 96 00:04:30,160 --> 00:04:33,000 Speaker 1: is not that big an export for us to the US. 97 00:04:33,000 --> 00:04:34,440 Speaker 1: It's a billion dollars a year, which is still a 98 00:04:34,480 --> 00:04:37,039 Speaker 1: lot of money, but it is not the biggest. But 99 00:04:37,480 --> 00:04:39,920 Speaker 1: the political double bud, the double butt. It's not not 100 00:04:39,960 --> 00:04:41,400 Speaker 1: going for the triple. I'm going to save the triple 101 00:04:41,400 --> 00:04:45,440 Speaker 1: for later on. The political and strategic implications of all 102 00:04:45,480 --> 00:04:50,240 Speaker 1: of this are massive. We are not special like That 103 00:04:50,360 --> 00:04:52,920 Speaker 1: is the TAKEO message here. And Peter Dutton's claims that 104 00:04:52,960 --> 00:04:54,680 Speaker 1: he would have been able to get a different result 105 00:04:54,880 --> 00:04:58,200 Speaker 1: if he was in power. It's probably a little unlikely 106 00:04:58,360 --> 00:05:00,360 Speaker 1: because you get the impression that the UN at the 107 00:05:00,400 --> 00:05:04,599 Speaker 1: moment just doesn't actually care that much about Australia it is. However, 108 00:05:05,400 --> 00:05:07,720 Speaker 1: that's probably quite a sweeping statement, wasn't it. 109 00:05:07,720 --> 00:05:09,480 Speaker 3: Now, I just wonder whether they know where it is 110 00:05:10,839 --> 00:05:13,760 Speaker 3: Trump Australia, not Europe, No. 111 00:05:13,400 --> 00:05:17,800 Speaker 1: No, no, somewhere somewhere, somewhere down there, down Under. It's 112 00:05:17,800 --> 00:05:20,680 Speaker 1: setting the scene, of course, for a highly a unique 113 00:05:20,880 --> 00:05:25,000 Speaker 1: election campaign. It's getting closer and closer and closer, but 114 00:05:25,040 --> 00:05:28,120 Speaker 1: it's still not yet announced. The latest News poll this 115 00:05:28,200 --> 00:05:30,839 Speaker 1: week just a little bit of extra color heading towards 116 00:05:30,920 --> 00:05:35,240 Speaker 1: minority government, albow Back as Prime Minister because voters aren't 117 00:05:35,320 --> 00:05:37,480 Speaker 1: yet prepared to hand Peter Dutton the keys to the lodge. 118 00:05:37,520 --> 00:05:40,400 Speaker 1: Domestic politics aside, which is obviously very important, the biggest 119 00:05:40,400 --> 00:05:42,120 Speaker 1: story of the week was the fact that this week 120 00:05:42,400 --> 00:05:45,719 Speaker 1: Australia discovered its place in the world, and that place 121 00:05:46,120 --> 00:05:48,560 Speaker 1: is not as special as we thought. There you go, 122 00:05:48,920 --> 00:05:50,039 Speaker 1: How brief was that? Brief? 123 00:05:50,120 --> 00:05:52,320 Speaker 3: Good story, Not a lot of melodrama. 124 00:05:53,240 --> 00:05:55,720 Speaker 1: The facts of the melodrama, Sean, Sometimes you don't need 125 00:05:55,760 --> 00:05:58,920 Speaker 1: to overregget with the presentation. The facts speak for themselves. 126 00:05:59,400 --> 00:06:01,960 Speaker 1: We're not sped. That was a fact. That is well, 127 00:06:02,000 --> 00:06:07,240 Speaker 1: I mean it's an opinion based fact. Yes, factish, factish. 128 00:06:07,320 --> 00:06:12,680 Speaker 1: Biggest story of the week Adam Markets crazy crazy crazy 129 00:06:12,720 --> 00:06:19,359 Speaker 1: text docs banks, consumer discretionary. Oh my word, why have 130 00:06:19,520 --> 00:06:23,240 Speaker 1: we been dumped a bunch of reasons. Not we. 131 00:06:24,880 --> 00:06:28,160 Speaker 3: You've said that, Why have I been dumped? No, I've 132 00:06:28,200 --> 00:06:31,320 Speaker 3: said They've got a few times in my life and 133 00:06:31,600 --> 00:06:34,800 Speaker 3: never really got a very good respects either. Just quiet, however, Okay, 134 00:06:35,000 --> 00:06:38,839 Speaker 3: market equity valuations, Wow, they are off more than ten 135 00:06:38,920 --> 00:06:42,520 Speaker 3: percent since their peak. That's less than four weeks ago. 136 00:06:42,720 --> 00:06:46,279 Speaker 3: We're talking correction territory here. Why well, it's not just 137 00:06:46,320 --> 00:06:49,960 Speaker 3: Donald Trump. Equity evaluations were stretched to begin with. They 138 00:06:50,000 --> 00:06:52,200 Speaker 3: got too expensive. In fact, if you put a trend 139 00:06:52,200 --> 00:06:54,880 Speaker 3: line through the ASEX two hundred, we're still about five 140 00:06:54,880 --> 00:06:57,719 Speaker 3: percent over value. That's over about the last ten years. 141 00:06:58,000 --> 00:07:00,760 Speaker 3: Textocs magnificent seven on Wall Street rund too hard. We're 142 00:07:00,800 --> 00:07:03,160 Speaker 3: paying for that now. We're hoping for a bunch of 143 00:07:03,240 --> 00:07:05,480 Speaker 3: ray cuts in the US and Australia. But inflation is 144 00:07:05,600 --> 00:07:08,800 Speaker 3: just a little stickier than we thought. 145 00:07:09,080 --> 00:07:11,080 Speaker 1: Why did you look at me when you said that? 146 00:07:11,160 --> 00:07:13,440 Speaker 1: You made you waited until I was looking at you. 147 00:07:13,520 --> 00:07:16,640 Speaker 1: You made direct eye contact and then put emphsis. 148 00:07:16,120 --> 00:07:21,559 Speaker 3: Brevities, everything overlaying all. This is the contradictory commentary coming 149 00:07:21,640 --> 00:07:22,600 Speaker 3: out of the White House. 150 00:07:22,800 --> 00:07:23,480 Speaker 1: I love it. 151 00:07:23,480 --> 00:07:25,880 Speaker 3: I think it was Thursday night Friday morning, he suggested 152 00:07:25,920 --> 00:07:28,040 Speaker 3: two hundred pers. 153 00:07:28,960 --> 00:07:30,240 Speaker 2: He may not be joking. 154 00:07:31,240 --> 00:07:33,520 Speaker 1: You just don't thing about markets. 155 00:07:33,560 --> 00:07:37,240 Speaker 3: They've got no idea specifically for Australia over the past 156 00:07:37,240 --> 00:07:39,520 Speaker 3: twenty four hours the news at ALUMINUMU and Steele's or 157 00:07:39,560 --> 00:07:43,360 Speaker 3: sorry this week what Mike was talking about. Now, clearly 158 00:07:43,440 --> 00:07:45,320 Speaker 3: that's just a subset of the big story of the week, 159 00:07:45,360 --> 00:07:49,200 Speaker 3: which is mine, sell off aren't abnormal. I mean sell 160 00:07:49,200 --> 00:07:51,280 Speaker 3: offs to rayk there's something wrong with that, especially when 161 00:07:51,280 --> 00:07:54,960 Speaker 3: the market goes too hard. I have a time though 162 00:07:55,880 --> 00:08:00,080 Speaker 3: things right themselves. The economy grows, say to markets, but 163 00:08:00,920 --> 00:08:04,040 Speaker 3: record we're in for a very rough four months or so, 164 00:08:04,680 --> 00:08:08,040 Speaker 3: and this is the week where we really saw the 165 00:08:08,120 --> 00:08:13,040 Speaker 3: sell off gain some momentum. That's what I'm for, Michael. 166 00:08:13,120 --> 00:08:15,680 Speaker 1: Momentum to good word sounds like a tie to me 167 00:08:17,920 --> 00:08:22,480 Speaker 1: or a victory to me. That's a concession. No, No, 168 00:08:22,880 --> 00:08:28,280 Speaker 1: I could see the way the two of you. There's 169 00:08:28,280 --> 00:08:30,440 Speaker 1: a lot of body language in the studio right and 170 00:08:30,480 --> 00:08:33,440 Speaker 1: you can tell you not even wearing the yes and. 171 00:08:33,360 --> 00:08:36,960 Speaker 3: So that like connection has built something I. 172 00:08:38,280 --> 00:08:41,240 Speaker 1: Don't want to know about your micro connection. 173 00:08:41,440 --> 00:08:43,559 Speaker 3: Let's move on, Adam Judge. 174 00:08:44,120 --> 00:08:50,120 Speaker 2: Okay, Michael wins I know this is no idea. I'm 175 00:08:50,160 --> 00:08:53,480 Speaker 2: confirming my unpredictability, really irrationality. 176 00:08:53,679 --> 00:08:57,200 Speaker 1: Yes, also put fair accusation. I really love Sean. 177 00:08:57,320 --> 00:08:59,600 Speaker 2: It is an incredible thing to two points that you 178 00:08:59,640 --> 00:09:02,600 Speaker 2: made of the week in one now was really that 179 00:09:02,679 --> 00:09:06,199 Speaker 2: we're still over valued, maybe by five percent and a 180 00:09:06,320 --> 00:09:08,240 Speaker 2: rough tour of months ahead. I think you're going to 181 00:09:08,280 --> 00:09:10,719 Speaker 2: be right, because this thing is not certain. We are 182 00:09:10,720 --> 00:09:15,600 Speaker 2: not in certain territory. But to me, the decades long 183 00:09:15,760 --> 00:09:19,720 Speaker 2: inference post Second World War of US being interlocked with 184 00:09:19,800 --> 00:09:23,160 Speaker 2: the USA and that being obviously laid bare, the veil 185 00:09:23,200 --> 00:09:26,559 Speaker 2: has been revealed. Right. We are not their special friend 186 00:09:27,040 --> 00:09:28,839 Speaker 2: and we do not get specially. 187 00:09:29,000 --> 00:09:31,400 Speaker 3: When once Canada or Mexico got kicked up the ass 188 00:09:31,400 --> 00:09:33,000 Speaker 3: a few weeks but we probably kind have got the 189 00:09:33,080 --> 00:09:34,680 Speaker 3: hint that we're in trouble. 190 00:09:34,840 --> 00:09:36,480 Speaker 1: Things aren't looking good for us. 191 00:09:36,840 --> 00:09:39,520 Speaker 2: But I think the terrorists coming on just removes the veil, 192 00:09:39,800 --> 00:09:42,280 Speaker 2: and let's let's call it plainly, let's remove all. 193 00:09:42,160 --> 00:09:47,160 Speaker 3: The one nil to Michael, well done, Goodwin. 194 00:09:47,480 --> 00:09:49,960 Speaker 1: Do you think Australia should be tougher than in its 195 00:09:49,960 --> 00:09:53,720 Speaker 1: response or do you think it's because obviously Canada came 196 00:09:53,840 --> 00:09:56,760 Speaker 1: out very hard with their own tariffs in the US 197 00:09:57,080 --> 00:09:59,880 Speaker 1: the Mexico, like if you're looking at the two closest neighbors, right, 198 00:10:00,160 --> 00:10:02,959 Speaker 1: But Mexico took a more kind of steady approach, saying 199 00:10:02,960 --> 00:10:04,560 Speaker 1: all right, well, we'll kind of see how this goes. 200 00:10:04,559 --> 00:10:09,040 Speaker 1: They're two different diplomatic approaches. Australia's taking the Mexican kind 201 00:10:09,080 --> 00:10:11,360 Speaker 1: of it's a Mexican but a lot of the handoff. 202 00:10:12,360 --> 00:10:15,120 Speaker 1: I like it, should we be tougher, should we be 203 00:10:15,160 --> 00:10:16,080 Speaker 1: Canada not Mexico. 204 00:10:16,160 --> 00:10:18,720 Speaker 3: But if it's a standoff with Mexico, it's on a 205 00:10:18,760 --> 00:10:21,520 Speaker 3: Mexican standoff. It's just a standoff. 206 00:10:21,840 --> 00:10:23,760 Speaker 2: I think being servile doesn't work. 207 00:10:24,559 --> 00:10:27,080 Speaker 3: Well, it depends taly on what I mean. We've just 208 00:10:27,080 --> 00:10:29,480 Speaker 3: got a billion dollars worth of aluminium steel exports, so 209 00:10:29,559 --> 00:10:32,520 Speaker 3: what if they hit us on agriculture? Then we start 210 00:10:32,520 --> 00:10:33,839 Speaker 3: thinking a bit differently about it. 211 00:10:33,960 --> 00:10:34,440 Speaker 1: Yeah. 212 00:10:34,480 --> 00:10:36,920 Speaker 3: So, like I no one wants to trade war. We're 213 00:10:36,960 --> 00:10:40,800 Speaker 3: about to get one. Donald Trump is promoting it. At 214 00:10:40,800 --> 00:10:43,200 Speaker 3: some point you're going to break. Let's go to our 215 00:10:43,240 --> 00:10:44,920 Speaker 3: most remarkable story. Can I go first? 216 00:10:45,000 --> 00:10:50,959 Speaker 1: Please? Was a well, sorry, was a was a buffet? 217 00:10:51,200 --> 00:10:55,079 Speaker 3: Was a buffet? The man himself, I think is the 218 00:10:55,280 --> 00:10:59,280 Speaker 3: ninth most well. The ninth richest person on the planet 219 00:11:00,160 --> 00:11:03,200 Speaker 3: this year thus far, Elon Musk, which is person what's 220 00:11:03,200 --> 00:11:05,160 Speaker 3: a roundred billion, is lost about one hundred and twenty 221 00:11:05,200 --> 00:11:09,560 Speaker 3: six billion, outrageous. Jeff Bezos lies about twenty one billion. 222 00:11:10,320 --> 00:11:13,640 Speaker 3: In fact, all of the top twenty have lost money 223 00:11:13,640 --> 00:11:16,079 Speaker 3: except for about four or five. The only one that 224 00:11:16,080 --> 00:11:20,400 Speaker 3: who has made serious money this year is the Oracle 225 00:11:20,480 --> 00:11:26,920 Speaker 3: of Omaha himself, Warren Buffett. He's got a simple mono success. Adam, 226 00:11:27,080 --> 00:11:29,280 Speaker 3: listen to this, stop writing pen down? 227 00:11:29,360 --> 00:11:32,360 Speaker 1: How much was just then? He was just going curious. 228 00:11:32,440 --> 00:11:34,120 Speaker 3: Note, imagine what it's going to be like when he 229 00:11:34,120 --> 00:11:37,640 Speaker 3: gives his judgment. It's going to be on anyway. The 230 00:11:37,760 --> 00:11:42,520 Speaker 3: Warren Buffett moto fits success. Be fearful when others are greedy, 231 00:11:43,600 --> 00:11:47,600 Speaker 3: sounding familiar, and be greedy only when others are fearful. 232 00:11:48,080 --> 00:11:52,520 Speaker 3: Fear and greed, Adam, fear and greed. That's it. In 233 00:11:52,559 --> 00:11:55,480 Speaker 3: the lead up to the Trump presidency, Buffett's book Sheer 234 00:11:55,520 --> 00:12:00,120 Speaker 3: Hathaway started selling shares amassing cash. About a third of 235 00:12:00,320 --> 00:12:03,640 Speaker 3: their stash that's three hundred and thirty four billion US 236 00:12:03,720 --> 00:12:08,080 Speaker 3: dollars is in cash. Just as the market tumbles now, 237 00:12:08,120 --> 00:12:12,720 Speaker 3: Buffett was criticized for not catching on to the ninety 238 00:12:12,800 --> 00:12:16,720 Speaker 3: nine two thousand tech boom. He rode that through. He's 239 00:12:16,800 --> 00:12:20,080 Speaker 3: been criticized for not really being a Magnificent seven guy. 240 00:12:21,080 --> 00:12:24,440 Speaker 3: He's sort of riding that through. If you've put like 241 00:12:24,679 --> 00:12:27,760 Speaker 3: a million dollars, actually the numbers are too hard for me. 242 00:12:28,000 --> 00:12:29,520 Speaker 3: If you put one. 243 00:12:29,320 --> 00:12:32,040 Speaker 1: Dollar you sound like me. Yeah, if you put one 244 00:12:32,080 --> 00:12:32,640 Speaker 1: dollar in. 245 00:12:32,600 --> 00:12:36,199 Speaker 3: A Berkshire halfway share thirty years ago, you would now 246 00:12:36,280 --> 00:12:38,000 Speaker 3: have two thousand dollars. 247 00:12:38,120 --> 00:12:38,760 Speaker 1: Unbelievable. 248 00:12:39,040 --> 00:12:42,320 Speaker 3: It's incredible, and it is just remarkable how good this 249 00:12:42,400 --> 00:12:43,800 Speaker 3: man is. I mean, we've been saying a few years 250 00:12:43,800 --> 00:12:45,600 Speaker 3: in the years, but this is the week we found 251 00:12:45,600 --> 00:12:48,120 Speaker 3: out just how much better he's been doing than the other. 252 00:12:48,160 --> 00:12:49,400 Speaker 2: We're still in his nineties. 253 00:12:49,520 --> 00:12:50,120 Speaker 1: Ninety four. 254 00:12:50,760 --> 00:12:52,880 Speaker 3: Wow, incredible ninety four. 255 00:12:53,960 --> 00:12:54,200 Speaker 1: Yep. 256 00:12:54,679 --> 00:12:56,960 Speaker 3: I've till my buffet stories too often, so I'm not 257 00:12:57,000 --> 00:12:57,640 Speaker 3: going to go there. 258 00:12:58,559 --> 00:13:01,319 Speaker 1: We have heard that they are good stuff in recent weeks. 259 00:13:01,559 --> 00:13:04,119 Speaker 3: In recent weeks, two, Michael, your most remarkable story. 260 00:13:04,320 --> 00:13:09,520 Speaker 1: Quick one for me? Adam, Huh it is today. I 261 00:13:09,640 --> 00:13:12,640 Speaker 1: have actually been brief so far like one of four stories. 262 00:13:13,120 --> 00:13:19,120 Speaker 1: How did the star right end up going from completely. 263 00:13:18,440 --> 00:13:23,000 Speaker 2: Friendless falling even Star, Yes. 264 00:13:22,800 --> 00:13:25,760 Speaker 1: A falling Star, from a shooting to a falling star 265 00:13:26,679 --> 00:13:31,680 Speaker 1: on the verge of collapse, right to suddenly having more suiting, 266 00:13:32,160 --> 00:13:35,360 Speaker 1: more suitors than an episode of the Bachelor. It is 267 00:13:35,440 --> 00:13:38,680 Speaker 1: quite extraordinary, right there was not so long ago, last 268 00:13:38,679 --> 00:13:42,200 Speaker 1: couple of weeks, we were just sitting there waiting teeing 269 00:13:42,559 --> 00:13:46,640 Speaker 1: for bad news from the gaming group. Teetering teetering on 270 00:13:46,679 --> 00:13:50,400 Speaker 1: the brink of oblivion might be a bit extreme. Actually, 271 00:13:50,760 --> 00:13:52,920 Speaker 1: it hadn't filed its half year account, so I was 272 00:13:52,920 --> 00:13:55,440 Speaker 1: suspended from trading. While not much it's changed on that front, 273 00:13:55,480 --> 00:14:00,360 Speaker 1: the number of potential saviors for the group has exploded, 274 00:14:00,760 --> 00:14:04,839 Speaker 1: excluded like a Star going super and over and then 275 00:14:04,920 --> 00:14:10,560 Speaker 1: black Star, yes, white Dwarf potentially a black hole. Gosh, 276 00:14:10,600 --> 00:14:12,160 Speaker 1: there's a lot of things that we can do with this. 277 00:14:12,840 --> 00:14:16,480 Speaker 1: We had American casino giant Bally's Corporation proposing a two 278 00:14:16,559 --> 00:14:19,680 Speaker 1: hundred and fifty million dollar recapitalization for Star, taking at 279 00:14:19,720 --> 00:14:21,600 Speaker 1: least a majority steak. Then there's a two hundred and 280 00:14:21,640 --> 00:14:24,560 Speaker 1: fifty million dollar bridging loan from New York headquartered King 281 00:14:24,600 --> 00:14:27,880 Speaker 1: Street Capital, a separate agreement reach to sell Stars staking 282 00:14:27,920 --> 00:14:31,240 Speaker 1: the Queen's Wharf project in Brisbane to Hong Kong based shareholders. 283 00:14:31,320 --> 00:14:34,000 Speaker 1: They can't obviously do all of them. But suddenly, look 284 00:14:34,040 --> 00:14:39,560 Speaker 1: at this, the Star has options, options for survival, and 285 00:14:39,760 --> 00:14:44,480 Speaker 1: I think that is a remarkable turnaround from where they 286 00:14:44,560 --> 00:14:48,400 Speaker 1: were just one week, two weeks, three weeks ago. That 287 00:14:48,760 --> 00:14:54,040 Speaker 1: is remarkable and brief. It's done, it is over now. 288 00:14:54,080 --> 00:14:56,200 Speaker 3: I just put a little adjunct. I don't know. Do 289 00:14:56,200 --> 00:14:57,880 Speaker 3: you remember a week ago, Michael. 290 00:14:57,720 --> 00:15:01,160 Speaker 1: I don't remember. I have completely I removed that from 291 00:15:01,240 --> 00:15:01,680 Speaker 1: my memory. 292 00:15:01,760 --> 00:15:05,200 Speaker 3: I do believe I lost on the most remarkable Caghari 293 00:15:05,720 --> 00:15:08,400 Speaker 3: saying the Star was teetering and I had way Aller 294 00:15:08,520 --> 00:15:10,120 Speaker 3: in there, and I had Rex in there. I had 295 00:15:10,120 --> 00:15:11,120 Speaker 3: the whole lot in there. 296 00:15:11,160 --> 00:15:13,480 Speaker 1: You know what, I pared away, all the fluff. I 297 00:15:13,520 --> 00:15:15,520 Speaker 1: have just gone for the heart of the story, which 298 00:15:15,560 --> 00:15:18,640 Speaker 1: is the fact that this is an incredible turnaround from 299 00:15:18,840 --> 00:15:24,320 Speaker 1: teetering on the brink to now options galore, optionscore, Yes, 300 00:15:24,520 --> 00:15:27,120 Speaker 1: well three is galaw and who knows what else could 301 00:15:27,120 --> 00:15:27,640 Speaker 1: be out there? 302 00:15:27,760 --> 00:15:32,320 Speaker 3: Seante sharehold is that I can to agree with you. 303 00:15:33,360 --> 00:15:37,720 Speaker 2: Sean wins Warren Buffett by making such a good, precient 304 00:15:37,800 --> 00:15:41,520 Speaker 2: decision to go to cash, in effect standing still has 305 00:15:41,560 --> 00:15:44,600 Speaker 2: just allowed everyone else to fall aside and stood even taller. 306 00:15:44,800 --> 00:15:47,320 Speaker 2: He's amazing, and I think that is in a very 307 00:15:47,360 --> 00:15:50,000 Speaker 2: remarkable week. That is the more remarkable story. 308 00:15:51,280 --> 00:15:54,240 Speaker 3: So the thing I would take confidence from for you, 309 00:15:54,360 --> 00:15:57,880 Speaker 3: Michael is given the judging of the first story, the 310 00:15:57,920 --> 00:16:00,760 Speaker 3: biggest story was so appalling. There's no isn't why judging 311 00:16:00,800 --> 00:16:02,360 Speaker 3: the emotional remarkt would be any better. 312 00:16:03,000 --> 00:16:03,760 Speaker 1: He is consistent. 313 00:16:03,920 --> 00:16:05,920 Speaker 3: Yes, we're both winners. 314 00:16:06,480 --> 00:16:08,680 Speaker 1: Okay, this is good. What is good? We're okay? One 315 00:16:08,720 --> 00:16:10,480 Speaker 1: all we are heading into half time. We will come 316 00:16:10,520 --> 00:16:20,640 Speaker 1: back with our mystery category. All right, Sean, it is 317 00:16:20,680 --> 00:16:23,280 Speaker 1: time for our mystery category of the week. And you 318 00:16:23,320 --> 00:16:26,360 Speaker 1: know what we've actually gone. There's just been so much negative. 319 00:16:26,400 --> 00:16:27,680 Speaker 2: You're not going to have to perform again. 320 00:16:27,680 --> 00:16:29,800 Speaker 1: You do not have to perform. Last week we put 321 00:16:29,840 --> 00:16:32,200 Speaker 1: you on the spot to come up with a limearycard 322 00:16:32,320 --> 00:16:35,880 Speaker 1: for your judgment, and you did pretty well. But this 323 00:16:35,960 --> 00:16:39,320 Speaker 1: week we are just overwhelmed with negativity. We are going 324 00:16:39,360 --> 00:16:42,280 Speaker 1: to go the other way, right, we are going to 325 00:16:42,520 --> 00:16:45,360 Speaker 1: the best good news story of the week. 326 00:16:45,440 --> 00:16:46,600 Speaker 3: It's good news week. 327 00:16:47,240 --> 00:16:49,720 Speaker 1: Remember that that was a good show. 328 00:16:50,120 --> 00:16:50,920 Speaker 2: You should bring that back. 329 00:16:50,960 --> 00:16:53,640 Speaker 3: It was also this song with a sixties song, Adam. 330 00:16:53,480 --> 00:16:55,760 Speaker 2: Yeah, That's what was playing in my head. 331 00:16:55,800 --> 00:16:57,680 Speaker 3: That's what I was referring to. And you brought up 332 00:16:57,680 --> 00:17:00,320 Speaker 3: the TV shap. Yeah he's going first, I. 333 00:17:00,280 --> 00:17:01,360 Speaker 1: Will, you will, Okay. 334 00:17:01,840 --> 00:17:06,680 Speaker 3: I think this is good news. 335 00:17:04,800 --> 00:17:08,200 Speaker 1: Not a great It is good news. It all depends 336 00:17:08,200 --> 00:17:13,399 Speaker 1: on the perspective. Right, the value of scam losses in Australia, 337 00:17:13,640 --> 00:17:16,119 Speaker 1: So you see why it is potentially both good and 338 00:17:16,160 --> 00:17:18,520 Speaker 1: bad news. Right, there is a core of bad news 339 00:17:18,520 --> 00:17:21,080 Speaker 1: in there, but overwhelmingly it is good. The value of 340 00:17:21,119 --> 00:17:24,880 Speaker 1: scam losses in Australia fell by twenty six percent. News 341 00:17:24,880 --> 00:17:28,119 Speaker 1: for the scammers and those who have been scammed, but 342 00:17:28,240 --> 00:17:31,000 Speaker 1: good news for those who have avoided it. Is two 343 00:17:31,040 --> 00:17:35,440 Speaker 1: billion dollars. Two billion dollars. It is still a ridiculously 344 00:17:35,520 --> 00:17:35,879 Speaker 1: high night. 345 00:17:35,920 --> 00:17:37,440 Speaker 3: That's twice as much as the value is still on 346 00:17:37,480 --> 00:17:38,399 Speaker 3: aliminium ex sports. 347 00:17:38,720 --> 00:17:41,720 Speaker 1: That's right. Maybe Donald Trump should put a tariff on scams. 348 00:17:42,080 --> 00:17:46,359 Speaker 3: Yes, we knew who they were, as the but Tuna 349 00:17:46,400 --> 00:17:51,880 Speaker 3: advocate suggested as tariff on Nicole Kidman and Keith coming 350 00:17:51,920 --> 00:17:52,800 Speaker 3: in and out of the country. 351 00:17:54,920 --> 00:17:59,200 Speaker 1: Two billion dollars ridiculously high, but it is getting better. 352 00:18:00,240 --> 00:18:02,920 Speaker 1: Lost is going down, so we are getting smarter at 353 00:18:02,960 --> 00:18:07,280 Speaker 1: detecting scams. The number of reported scams decreased eighteen percent 354 00:18:07,320 --> 00:18:09,880 Speaker 1: of under five hundred thousand. I don actually know how 355 00:18:10,200 --> 00:18:13,080 Speaker 1: whether that accurately reflects how many attempted scams there are, 356 00:18:13,119 --> 00:18:15,240 Speaker 1: because I suspect a lot of people wouldn't actually bother 357 00:18:15,400 --> 00:18:18,640 Speaker 1: reporting them, or they just kind of too ashamed to. Yeah, 358 00:18:18,880 --> 00:18:21,080 Speaker 1: if it's just an attempt you know, you wouldn't report 359 00:18:21,080 --> 00:18:23,760 Speaker 1: an attempted scam, would you? I wouldn't. I mean that 360 00:18:23,880 --> 00:18:26,399 Speaker 1: happened every day, would But I mean, you get them. 361 00:18:26,240 --> 00:18:28,720 Speaker 3: Every day every day if you go block sender. So 362 00:18:28,760 --> 00:18:32,320 Speaker 3: if someone I always yeahs, hey, you're coming up with 363 00:18:32,320 --> 00:18:36,320 Speaker 3: my socials, perhaps we could should meet, right, which presumably 364 00:18:36,400 --> 00:18:39,720 Speaker 3: is a scam, unless unless the bloke that has been 365 00:18:39,800 --> 00:18:43,320 Speaker 3: dropped a fair bit in his life has princess. 366 00:18:43,320 --> 00:18:47,400 Speaker 1: Someone has seen your like and sends you a. 367 00:18:46,520 --> 00:18:50,120 Speaker 3: So if you say block caller and report, is that 368 00:18:50,280 --> 00:18:53,239 Speaker 3: I just skipped the licropart, is that a report or not? 369 00:18:53,600 --> 00:18:54,600 Speaker 2: I counted as one? 370 00:18:54,680 --> 00:18:56,480 Speaker 3: Yeah? Right, So I would always do that. So if 371 00:18:56,480 --> 00:18:59,760 Speaker 3: I get this scam thing after, I mean nominally it's 372 00:19:00,000 --> 00:19:02,239 Speaker 3: I abent sixty seventy thousand marks, and I realized it's 373 00:19:02,240 --> 00:19:03,159 Speaker 3: gone before I report. 374 00:19:04,240 --> 00:19:06,880 Speaker 1: I mean, if you get one of those scam phone calls, right, 375 00:19:06,960 --> 00:19:10,520 Speaker 1: and it's like reporting your Amazon has been suspended or 376 00:19:10,560 --> 00:19:12,720 Speaker 1: the ATO is going to come after you for money, 377 00:19:12,960 --> 00:19:15,280 Speaker 1: you just hang out it, You hang up or give. 378 00:19:15,160 --> 00:19:18,639 Speaker 2: Them a nice gentle whistle in the receiver that always 379 00:19:18,640 --> 00:19:19,320 Speaker 2: puts them off. 380 00:19:19,800 --> 00:19:23,840 Speaker 1: Really, yeah, I wouldn't report it. You clearly would. You're 381 00:19:24,000 --> 00:19:26,240 Speaker 1: sitting on the fence. I'm not a reporter. I'm fairly 382 00:19:26,280 --> 00:19:31,040 Speaker 1: apathetic to most things. Generally. Investment scams saw the highest 383 00:19:31,160 --> 00:19:34,080 Speaker 1: overall losses nine hundred and forty five million dollars reported 384 00:19:34,119 --> 00:19:36,919 Speaker 1: lost last year, even though that was lower as well. 385 00:19:37,080 --> 00:19:43,880 Speaker 1: I do think live reflection upon this. This is good news. Actually, 386 00:19:45,040 --> 00:19:48,000 Speaker 1: it fits into the good news because we're getting smarter, 387 00:19:48,760 --> 00:19:51,359 Speaker 1: we're getting more savvy when it comes to scams. The 388 00:19:51,520 --> 00:19:56,520 Speaker 1: systems in place, particularly with our banks, right, they are 389 00:19:56,560 --> 00:19:59,920 Speaker 1: getting very very good at not just detecting but educating 390 00:20:00,040 --> 00:20:03,399 Speaker 1: people about scams as well. This is not just a 391 00:20:03,480 --> 00:20:07,199 Speaker 1: good news story. This is the good news story, not 392 00:20:07,280 --> 00:20:13,680 Speaker 1: just of the week, possibly of the decade, unless, of course, 393 00:20:13,680 --> 00:20:15,440 Speaker 1: you've been scammed, in which case it's just a bitter 394 00:20:15,480 --> 00:20:19,880 Speaker 1: reminder of what you've lost. But for everyone else. Good 395 00:20:19,880 --> 00:20:21,639 Speaker 1: news story, millennium. Have you been? 396 00:20:22,040 --> 00:20:24,320 Speaker 3: I was scammed like five weeks ago trying a white 397 00:20:24,320 --> 00:20:26,640 Speaker 3: pair of shoes, and I mean it was just so 398 00:20:26,720 --> 00:20:31,000 Speaker 3: obvious in hindsight it myself. Yeah no, no, no, no, 399 00:20:31,080 --> 00:20:33,600 Speaker 3: actually ninety bucks or something to other. And as soon 400 00:20:33,640 --> 00:20:36,359 Speaker 3: as I present, like pay, I thought, hold on then 401 00:20:36,400 --> 00:20:41,000 Speaker 3: I can like in the moment and yeah, have you guys. 402 00:20:40,760 --> 00:20:43,400 Speaker 1: Been buying them from converse with it now? 403 00:20:44,080 --> 00:20:46,760 Speaker 3: I was, But there's so many of them, right, I mean, 404 00:20:46,760 --> 00:20:47,960 Speaker 3: the U are real is a giveaway. 405 00:20:47,960 --> 00:20:49,160 Speaker 1: And I looked at. 406 00:20:49,200 --> 00:20:52,040 Speaker 2: Sort of, I was looking at wet suits for the family, right, 407 00:20:52,680 --> 00:20:54,920 Speaker 2: winter surfing. 408 00:20:56,040 --> 00:21:00,239 Speaker 1: We need this for a moment. Family wetsuits just such 409 00:21:00,240 --> 00:21:02,200 Speaker 1: an odd thing to buy as a family. 410 00:21:02,920 --> 00:21:06,520 Speaker 2: To go surfing together. So and it was clearly the 411 00:21:06,560 --> 00:21:08,760 Speaker 2: brand was rip Curl, right, and it was obviously a 412 00:21:08,880 --> 00:21:14,600 Speaker 2: rip off of rip Curl. It was just completely obvious. 413 00:21:14,600 --> 00:21:19,680 Speaker 3: Cool with her cool cool anyways, say did you get them? 414 00:21:19,840 --> 00:21:19,919 Speaker 2: No? 415 00:21:20,320 --> 00:21:22,000 Speaker 1: Right? So did you pay? Though? 416 00:21:22,119 --> 00:21:22,159 Speaker 2: No? 417 00:21:22,720 --> 00:21:23,000 Speaker 3: Okay? 418 00:21:23,560 --> 00:21:24,960 Speaker 1: Did you whistle at them? 419 00:21:25,600 --> 00:21:27,960 Speaker 2: It was on the internet machine, so there was no 420 00:21:27,960 --> 00:21:28,639 Speaker 2: one to whistle at. 421 00:21:29,200 --> 00:21:32,960 Speaker 1: See Adam just sitting there whistling at his screen. Adam 422 00:21:33,040 --> 00:21:35,560 Speaker 1: was doing either. Adam has cracked or he is being. 423 00:21:35,440 --> 00:21:38,840 Speaker 3: Scammed my good news story. There's dancing in the streets 424 00:21:38,880 --> 00:21:41,040 Speaker 3: at the moment, Adam, I look out the window, look 425 00:21:41,040 --> 00:21:43,000 Speaker 3: at the dancing in the streets. 426 00:21:43,119 --> 00:21:48,080 Speaker 1: I mean I see someone doing a fox trot. Even 427 00:21:48,119 --> 00:21:49,000 Speaker 1: from this distance. 428 00:21:49,280 --> 00:21:52,680 Speaker 3: I think salsa is the way to go. Salsa. 429 00:21:53,480 --> 00:21:54,560 Speaker 1: So why are they. 430 00:21:54,560 --> 00:21:58,119 Speaker 3: Dancing in the streets? Tell us sentiments are west PACs, 431 00:21:58,280 --> 00:22:02,160 Speaker 3: Melbourne Institute's cinnamon indeck, what are you laughing at? 432 00:22:02,840 --> 00:22:07,320 Speaker 1: Are they dancing because consumer sent The dancing a reflection of. 433 00:22:07,359 --> 00:22:10,040 Speaker 3: Consumer reflection of consumer cement. They aren't delighted. 434 00:22:11,040 --> 00:22:17,119 Speaker 1: Yeah, no, no, no, Michael, you don't understand that this 435 00:22:17,200 --> 00:22:18,080 Speaker 1: chicken and egg stuff. 436 00:22:18,200 --> 00:22:21,120 Speaker 3: They get the stuff first, the excited stuff first, and 437 00:22:21,160 --> 00:22:24,080 Speaker 3: then the sentiment index comes afterwards. This is the first 438 00:22:24,119 --> 00:22:27,800 Speaker 3: reading post the rate cut. 439 00:22:29,119 --> 00:22:32,879 Speaker 1: Please let the records show that Sean's demonstration of dancing 440 00:22:33,040 --> 00:22:35,920 Speaker 1: was very reminiscent of Donald Trump's campaign dances. 441 00:22:36,280 --> 00:22:40,760 Speaker 2: You know I was limicking you the YMCA dance. 442 00:22:41,800 --> 00:22:42,800 Speaker 1: Okay, please gone? Yes? 443 00:22:43,080 --> 00:22:46,400 Speaker 3: Wait? Sentiment best since so we started lifting interest rates 444 00:22:46,440 --> 00:22:52,240 Speaker 3: in sentiment went to the dogs. It is back to 445 00:22:52,320 --> 00:22:56,159 Speaker 3: those levels consumer sentiment. We're still more pessimistic than optimistic. 446 00:22:56,160 --> 00:22:58,480 Speaker 3: But we're always more pessimistic because we are a bunch 447 00:22:58,560 --> 00:23:02,440 Speaker 3: of miserable buggers, so we're always more pessimistic than optimistic. 448 00:23:02,480 --> 00:23:05,040 Speaker 3: But we're a bit less more pessimistic than you know what. 449 00:23:05,119 --> 00:23:07,480 Speaker 3: I'm trying to say. Things are looking better at Why 450 00:23:07,560 --> 00:23:10,479 Speaker 3: is it important? Because if consumers are happy, we spend 451 00:23:10,520 --> 00:23:13,840 Speaker 3: more money. That makes the economy go around. It has 452 00:23:13,920 --> 00:23:17,920 Speaker 3: been years, well three and a half years since we've 453 00:23:17,960 --> 00:23:20,600 Speaker 3: seen these sorts of numbers. It is really good news. 454 00:23:20,920 --> 00:23:22,400 Speaker 3: I'd like to say that I think the scam story 455 00:23:22,440 --> 00:23:24,119 Speaker 3: is a good story. I think the consumer sentiment is 456 00:23:24,119 --> 00:23:26,359 Speaker 3: a good story. Hence the category good news story. 457 00:23:26,400 --> 00:23:28,359 Speaker 1: You campaigning for a draw? I do. 458 00:23:30,400 --> 00:23:31,080 Speaker 3: Yeah, it's true. 459 00:23:31,440 --> 00:23:31,800 Speaker 1: That's true. 460 00:23:31,880 --> 00:23:34,760 Speaker 3: Let's have a draw. No, mine's better, so I can't 461 00:23:34,800 --> 00:23:35,760 Speaker 3: do it draw. 462 00:23:36,880 --> 00:23:40,679 Speaker 2: So scams are less bad, consumer sentiment is less bad. 463 00:23:41,160 --> 00:23:43,760 Speaker 2: So it is a good news story on an. 464 00:23:44,040 --> 00:23:47,080 Speaker 3: Impact one of the categories. Yeah, yeah criteria. 465 00:23:47,200 --> 00:23:50,879 Speaker 2: Yeah, so scam less scams is positive economic. 466 00:23:50,600 --> 00:23:56,320 Speaker 1: Money being lost to to bullion one and a half 467 00:23:56,600 --> 00:23:58,800 Speaker 1: to one and a half and neck. This is close. 468 00:23:59,000 --> 00:24:00,600 Speaker 3: I got no chance in the new category. 469 00:24:00,720 --> 00:24:03,679 Speaker 2: Oh I reckon, you might don't forfeit, go for it, 470 00:24:03,720 --> 00:24:04,240 Speaker 2: bring it home. 471 00:24:05,800 --> 00:24:09,840 Speaker 3: No, I find it really hard, very uncomfortable to say 472 00:24:09,880 --> 00:24:13,320 Speaker 3: this is my favorite story because it involves Donald Trump, 473 00:24:15,000 --> 00:24:19,680 Speaker 3: and like, I'm just irritated by the person. However, at 474 00:24:19,800 --> 00:24:26,480 Speaker 3: least we are talking peace in Ukraine, and we haven't 475 00:24:26,520 --> 00:24:31,080 Speaker 3: been speaking talking peace in Ukraine for three years. What 476 00:24:31,240 --> 00:24:36,159 Speaker 3: happened the US and Ukrainians got together, said let's have 477 00:24:36,200 --> 00:24:39,800 Speaker 3: a thirty day ceasefire, didn't invite the Russians. Now, the 478 00:24:39,840 --> 00:24:44,480 Speaker 3: Russians since then have come out and basically Vladimir Putin's 479 00:24:44,440 --> 00:24:48,280 Speaker 3: striking a fairly hard line over any deal for fighting. 480 00:24:48,400 --> 00:24:52,879 Speaker 3: His argument is that if you have a thirty day ceasefire, 481 00:24:53,240 --> 00:24:55,440 Speaker 3: that just gives Ukraine its time to go back, get 482 00:24:55,480 --> 00:24:58,600 Speaker 3: all this, recover the US and now are going to 483 00:24:58,600 --> 00:25:02,640 Speaker 3: fund them again and they'll be back fighting stronger. Now 484 00:25:02,960 --> 00:25:06,760 Speaker 3: that's a rational thing for Vladimir Putin to think. Notwithstanding, 485 00:25:06,840 --> 00:25:11,560 Speaker 3: Russia was the crowd that invaded Ukraine. They also want territory, 486 00:25:11,840 --> 00:25:13,800 Speaker 3: which Ukraine doesn't want to give them. 487 00:25:13,920 --> 00:25:14,520 Speaker 1: So we're a. 488 00:25:14,520 --> 00:25:19,520 Speaker 3: Long long way from any deal being done. But this 489 00:25:19,680 --> 00:25:27,560 Speaker 3: is hard to say. To Donald Trump's credit, you did it, 490 00:25:27,800 --> 00:25:30,119 Speaker 3: I did it. We are talking about peace in the 491 00:25:30,200 --> 00:25:33,280 Speaker 3: Ukraine and we haven't been speaking about that at all. 492 00:25:33,720 --> 00:25:36,040 Speaker 3: I mean's sort of been wedged a little bit because 493 00:25:36,080 --> 00:25:40,800 Speaker 3: Donald Trump's got Ukraine to the party party table. It's 494 00:25:40,840 --> 00:25:43,320 Speaker 3: the better way of putting that, Andin now is going 495 00:25:43,359 --> 00:25:45,920 Speaker 3: to look even worse if he doesn't come and think 496 00:25:45,960 --> 00:25:48,760 Speaker 3: about it, then maybe Putin doesn't care about that. And 497 00:25:48,840 --> 00:25:51,280 Speaker 3: I don't think you can trust very many leaders in 498 00:25:51,280 --> 00:25:54,119 Speaker 3: the world, including Trump and Purtin. So I don't think 499 00:25:54,119 --> 00:25:56,280 Speaker 3: we're there, but at least we're talking about it. And 500 00:25:56,320 --> 00:25:58,359 Speaker 3: that's why I like that story this week, Michael. 501 00:25:58,520 --> 00:26:04,119 Speaker 1: That is a good story. Favorite story also involves Donald Trump. Oh, 502 00:26:04,160 --> 00:26:07,320 Speaker 1: here we go, but it is hard to go past 503 00:26:07,440 --> 00:26:13,560 Speaker 1: the ultimate photo op, Donald Trump posing in a very 504 00:26:13,680 --> 00:26:17,399 Speaker 1: shiny red tesla out the front of the White House. 505 00:26:17,480 --> 00:26:20,240 Speaker 1: And that all came about because there was a tweet 506 00:26:20,560 --> 00:26:25,520 Speaker 1: from Donald Trump that he posted on Elon musks X, 507 00:26:26,600 --> 00:26:30,000 Speaker 1: basically saying that people needed to lay off Elon, that 508 00:26:30,720 --> 00:26:33,040 Speaker 1: he was doing his best to make America great again, 509 00:26:33,640 --> 00:26:36,280 Speaker 1: and that it wasn't fair that the left were targeting 510 00:26:36,440 --> 00:26:39,080 Speaker 1: his companies. I'm certainly paraphrasing, but that is pretty much 511 00:26:39,160 --> 00:26:42,000 Speaker 1: the gist of it. The best part of this whole 512 00:26:42,040 --> 00:26:46,760 Speaker 1: thing was that because Tesla's sales have been plummeting in 513 00:26:46,920 --> 00:26:51,000 Speaker 1: a number of parts of the world, and because the 514 00:26:51,040 --> 00:26:54,960 Speaker 1: share price has been falling as well. That Trump came 515 00:26:55,000 --> 00:26:58,880 Speaker 1: out in support big time of Tesla and Elon musks 516 00:27:00,280 --> 00:27:03,000 Speaker 1: to buying a new vehicle to show support for the 517 00:27:03,040 --> 00:27:05,520 Speaker 1: ev maker. And he actually did exactly what he said, 518 00:27:05,760 --> 00:27:07,600 Speaker 1: and he did it the next day, and they did 519 00:27:07,600 --> 00:27:13,240 Speaker 1: it pay cash. He did not. He paid. He paid 520 00:27:13,240 --> 00:27:17,520 Speaker 1: with a check. He paid checheck, he said. He said, 521 00:27:18,200 --> 00:27:20,040 Speaker 1: it's comedy sized one. No it was. 522 00:27:20,480 --> 00:27:20,840 Speaker 3: I don't. 523 00:27:20,920 --> 00:27:24,399 Speaker 1: I don't think so, he said, right. He told the 524 00:27:24,400 --> 00:27:27,080 Speaker 1: press that he was going to pay by check because 525 00:27:27,680 --> 00:27:30,280 Speaker 1: I like a check better than this modern system of 526 00:27:30,320 --> 00:27:34,480 Speaker 1: all of a sudden, there's money in your account. That 527 00:27:34,600 --> 00:27:41,000 Speaker 1: is a quote, said, I like signing a check. And 528 00:27:41,040 --> 00:27:42,760 Speaker 1: then he went on to say, I know he'd give 529 00:27:42,800 --> 00:27:45,000 Speaker 1: me a discount, but honestly, I don't want to ask 530 00:27:45,040 --> 00:27:47,760 Speaker 1: for one. You know, I'm president, and so I want 531 00:27:47,760 --> 00:27:51,240 Speaker 1: to pay full price. The Secret Service wouldn't let him 532 00:27:51,240 --> 00:27:53,760 Speaker 1: test drive it wasn't allowed to test drive it. I 533 00:27:53,800 --> 00:27:57,960 Speaker 1: can go pretty quick. Just imagine suddenly wrong button. Just 534 00:27:57,960 --> 00:28:02,280 Speaker 1: play through the Oval office. Anyway, But he also bought 535 00:28:02,520 --> 00:28:05,880 Speaker 1: a Tesla cybertruck as well for his granddaughter to put 536 00:28:05,880 --> 00:28:08,520 Speaker 1: her golf clubs in. This is all true. There's no 537 00:28:08,560 --> 00:28:10,880 Speaker 1: melodrama in this because this is all true. And guess 538 00:28:10,880 --> 00:28:13,800 Speaker 1: what he's doing with his red Tesla. It is a 539 00:28:13,840 --> 00:28:17,160 Speaker 1: staff car for his staff in the White House to use. 540 00:28:17,560 --> 00:28:19,920 Speaker 1: Anyone is allowed to use it. He mentioned one person 541 00:28:19,920 --> 00:28:22,520 Speaker 1: in particular who said that they were very excited to 542 00:28:22,520 --> 00:28:25,040 Speaker 1: be driving it. He said, they're going to have a 543 00:28:25,040 --> 00:28:28,480 Speaker 1: good time using it as long as they're careful. So essentially, 544 00:28:28,480 --> 00:28:30,960 Speaker 1: he's bought a car for the office, the Oval office. 545 00:28:31,119 --> 00:28:33,520 Speaker 1: How good is that story? It's just fine. 546 00:28:33,640 --> 00:28:38,560 Speaker 3: I don't I'm going to refute, so can you make 547 00:28:38,600 --> 00:28:41,320 Speaker 3: your decision? And then before you've made, you're good. So 548 00:28:41,960 --> 00:28:43,960 Speaker 3: do you know why that's my least favorite story of 549 00:28:44,000 --> 00:28:46,600 Speaker 3: the week. And I'm the guy that just said good 550 00:28:46,600 --> 00:28:49,560 Speaker 3: on Donald Trump for helping me. It's my least favorite 551 00:28:49,640 --> 00:28:53,240 Speaker 3: story of the week because it's everything that's wrong. So 552 00:28:53,360 --> 00:28:58,280 Speaker 3: the President telling the world to buy Tesla's a commercial 553 00:28:58,360 --> 00:29:01,400 Speaker 3: vehicle because it's going to help one of his mates, Like, 554 00:29:02,560 --> 00:29:04,600 Speaker 3: I can't. I couldn't even look at the pictures of 555 00:29:04,600 --> 00:29:07,320 Speaker 3: that story. And you, Michael, he said, look, he's look 556 00:29:07,320 --> 00:29:09,320 Speaker 3: at that. I just didn't even want to because it 557 00:29:09,560 --> 00:29:15,400 Speaker 3: signifies everything that's wrong, what's in, what's going on. Ah, 558 00:29:15,400 --> 00:29:17,040 Speaker 3: but it's even beyond that anyway. 559 00:29:17,120 --> 00:29:20,480 Speaker 1: But I mean, presidents do endorse companies, and we had 560 00:29:20,480 --> 00:29:23,160 Speaker 1: it with Joe Biden American company endorsing kind of remember 561 00:29:23,200 --> 00:29:26,560 Speaker 1: the Australian of the Baby the milk company. But that's 562 00:29:26,600 --> 00:29:29,520 Speaker 1: not a personal relationship. And that's also not to defend 563 00:29:29,600 --> 00:29:32,400 Speaker 1: him against attacks from the left either, like that is 564 00:29:32,520 --> 00:29:34,640 Speaker 1: that was just an economic thing. 565 00:29:35,080 --> 00:29:37,479 Speaker 3: So it is just just an ad. This is an 566 00:29:37,520 --> 00:29:41,200 Speaker 3: ad for Tesla because he felt that Elon's because Tesla's 567 00:29:41,200 --> 00:29:43,240 Speaker 3: share price to drop by fifty percent. Adam over to you. 568 00:29:44,240 --> 00:29:48,400 Speaker 2: So Sean wins because we're talking about peace in the Ukraine. 569 00:29:48,480 --> 00:29:52,720 Speaker 2: It was it was always going to be hard, and 570 00:29:52,760 --> 00:29:55,560 Speaker 2: you've got to marvel at how we got here. But 571 00:29:55,800 --> 00:29:59,360 Speaker 2: Trump's played his role right and so yep, Sewan wins. 572 00:30:00,000 --> 00:30:01,400 Speaker 1: All right, So that's two and a half to one 573 00:30:01,440 --> 00:30:03,040 Speaker 1: and a half. I haven't lost yet, I mean it 574 00:30:03,120 --> 00:30:06,520 Speaker 1: sounds like I have. But maybe give us the points, 575 00:30:06,520 --> 00:30:07,200 Speaker 1: give us the points. 576 00:30:07,840 --> 00:30:11,640 Speaker 2: You look very close ninety two Michael to ninety four Sean. 577 00:30:13,000 --> 00:30:14,200 Speaker 1: That's honorable, very good. 578 00:30:14,280 --> 00:30:15,640 Speaker 3: So that's an honorable loss. 579 00:30:15,800 --> 00:30:17,080 Speaker 1: I just thought it. 580 00:30:17,520 --> 00:30:19,920 Speaker 3: No, I don't, okay, Can I just end the show 581 00:30:19,920 --> 00:30:20,680 Speaker 3: with a little something? 582 00:30:20,880 --> 00:30:21,120 Speaker 2: Sure? 583 00:30:21,400 --> 00:30:21,680 Speaker 3: Please? 584 00:30:21,720 --> 00:30:22,080 Speaker 2: A song? 585 00:30:23,120 --> 00:30:24,280 Speaker 1: So a Limerick. 586 00:30:25,880 --> 00:30:29,760 Speaker 3: In the contest of Fear and Greed, Sean and Mike 587 00:30:30,000 --> 00:30:34,200 Speaker 3: both took the lead. Adam judged with a smile. Sean's 588 00:30:34,240 --> 00:30:38,320 Speaker 3: win was worthwhile, while Mike's chatter was very very hard 589 00:30:38,360 --> 00:30:38,720 Speaker 3: to heed. 590 00:30:40,160 --> 00:30:44,720 Speaker 1: That's just nonsense. Limericks have no place in rebuttal I 591 00:30:44,760 --> 00:30:46,960 Speaker 1: do not. We are over time and I'm going to 592 00:30:46,960 --> 00:30:49,360 Speaker 1: wrap this up right now. I love that Joe Limerick 593 00:30:49,520 --> 00:30:52,040 Speaker 1: was prepared for me to lose. 594 00:30:53,520 --> 00:30:56,880 Speaker 2: Yeah, you didn't have too prepared, did you got No. 595 00:30:57,360 --> 00:30:59,760 Speaker 1: That's how sure you were. And ever the fact that 596 00:31:00,040 --> 00:31:07,200 Speaker 1: the Lemericks started with us even and then finished yepable. No, 597 00:31:07,320 --> 00:31:09,840 Speaker 1: that's the thing you're not. We never know which way 598 00:31:09,840 --> 00:31:11,920 Speaker 1: it's going to go. Thank you very much, Adam, thank you, Michael, 599 00:31:12,040 --> 00:31:12,680 Speaker 1: thank you, Sure. 600 00:31:12,560 --> 00:31:14,280 Speaker 3: Thanks Sean, thanks Michael, thank you Adam. 601 00:31:14,280 --> 00:31:16,240 Speaker 1: Make sure you're following the podcast and please join us 602 00:31:16,240 --> 00:31:20,240 Speaker 1: online on LinkedIn, Instagram, TikTok, Facebook, and X. I'm Michael Thompson. 603 00:31:20,280 --> 00:31:22,320 Speaker 1: And that was Fear and Greed. Have a great weekend.