1 00:00:06,320 --> 00:00:08,920 Speaker 1: This is the Saturday edition of Fear and Greed business 2 00:00:08,960 --> 00:00:11,480 Speaker 1: news you can use. I'm Michael Thompson and good morning, 3 00:00:11,520 --> 00:00:12,280 Speaker 1: Sean Aylmer. 4 00:00:12,640 --> 00:00:14,520 Speaker 2: Good morning, Michael, Sean. 5 00:00:14,560 --> 00:00:16,280 Speaker 1: Our Saturday show is all about the two of us, 6 00:00:16,320 --> 00:00:19,080 Speaker 1: each nominating what we think is the biggest business story 7 00:00:19,079 --> 00:00:22,160 Speaker 1: of the week, the most remarkable business story, a mystery 8 00:00:22,160 --> 00:00:24,280 Speaker 1: category that we change every week just to keep our 9 00:00:24,400 --> 00:00:29,440 Speaker 1: judge on his toes, and our favorite business adjacent story. 10 00:00:29,880 --> 00:00:32,960 Speaker 1: And I mentioned our judge. Every week we are joined 11 00:00:33,159 --> 00:00:35,680 Speaker 1: in theory by a judge. 12 00:00:36,800 --> 00:00:39,960 Speaker 2: To pick up the wonderful Adam Lane out of that. 13 00:00:40,240 --> 00:00:44,560 Speaker 2: Welcome to the show, Adam, Adam Noosey Lane. 14 00:00:46,800 --> 00:00:47,879 Speaker 1: It is very early in. 15 00:00:47,840 --> 00:00:51,680 Speaker 2: The morning to have not gotten out of bed. We're 16 00:00:51,720 --> 00:00:56,040 Speaker 2: doing it from home this morning, and well, no Adam. 17 00:00:56,520 --> 00:00:59,040 Speaker 2: So we're going to judge ourselves. 18 00:00:59,200 --> 00:01:01,880 Speaker 1: That's right, and who knows, maybe our judge will turn 19 00:01:01,960 --> 00:01:06,000 Speaker 1: up part way through, which will create some spectacularly erratic judging, 20 00:01:06,400 --> 00:01:08,880 Speaker 1: which I'm actually quite excited by. If that does happen, 21 00:01:09,120 --> 00:01:11,480 Speaker 1: let's jump into the biggest story of the week and 22 00:01:11,480 --> 00:01:14,280 Speaker 1: we'll judge ourselves and we'll see what happened. How's that? 23 00:01:14,480 --> 00:01:15,000 Speaker 2: What happens? 24 00:01:15,160 --> 00:01:16,360 Speaker 1: Will the judge arrive. 25 00:01:16,800 --> 00:01:17,600 Speaker 2: Yes, that. 26 00:01:19,360 --> 00:01:22,520 Speaker 1: Would keep me listening. Biggest story, what was it for you? Sean? Well, 27 00:01:22,560 --> 00:01:26,000 Speaker 1: you go first, Michael, you go first, all right? For me, 28 00:01:26,880 --> 00:01:29,720 Speaker 1: it was the week for the economy. What a week 29 00:01:29,760 --> 00:01:35,319 Speaker 1: the economy has had? Right, Monthly inflation made that into 30 00:01:34,959 --> 00:01:41,080 Speaker 1: many many syllables. Is I care? Michelle Bullock cares anyone 31 00:01:41,120 --> 00:01:46,160 Speaker 1: with a mortgage? Not really any okay, Well, well okay, 32 00:01:46,200 --> 00:01:49,000 Speaker 1: I'll get to Michelle Bullock in a moment. But monthly 33 00:01:49,040 --> 00:01:54,480 Speaker 1: inflation in January, the underlying figure rose from three point 34 00:01:54,520 --> 00:01:57,640 Speaker 1: three percent to three point four percent. It is going 35 00:01:58,040 --> 00:02:02,600 Speaker 1: the wrong way. On headline, CPI held at three point 36 00:02:02,640 --> 00:02:05,200 Speaker 1: eight percent. Everyone was expecting it to actually slip, expecting 37 00:02:05,240 --> 00:02:07,080 Speaker 1: it to go down to three point seven percent. It didn't. 38 00:02:07,080 --> 00:02:09,720 Speaker 1: It stayed strong at three point eight percent. The main 39 00:02:09,760 --> 00:02:16,120 Speaker 1: culprit is housing. Suddenly, Suddenly, even though we've been talking 40 00:02:16,120 --> 00:02:19,720 Speaker 1: about it for several weeks now, but suddenly, inspecter of 41 00:02:19,760 --> 00:02:23,360 Speaker 1: another interest rate hike has reared its head once again. 42 00:02:23,400 --> 00:02:26,280 Speaker 2: I haven't said that recently, have we No? 43 00:02:26,760 --> 00:02:31,679 Speaker 1: But suddenly March maybe probably not, but we get the 44 00:02:31,760 --> 00:02:37,120 Speaker 1: quarterly inflation figures in April, May an interest rate hike 45 00:02:37,840 --> 00:02:42,200 Speaker 1: very much on the table. Admittedly, of course, than Michelle 46 00:02:42,200 --> 00:02:45,799 Speaker 1: Bullock was speaking through the week. She did a fireside 47 00:02:45,880 --> 00:02:48,200 Speaker 1: chat and John, I don't know about you, but I 48 00:02:48,280 --> 00:02:53,800 Speaker 1: reckon these things are actually more interesting than the post 49 00:02:54,560 --> 00:03:00,480 Speaker 1: meeting press conferences because it's less of Yeah, it's less 50 00:03:00,520 --> 00:03:03,880 Speaker 1: of kind of two dozen journalists all asking different versions 51 00:03:03,919 --> 00:03:07,079 Speaker 1: of kind of a similar question, trying to get something 52 00:03:07,480 --> 00:03:09,760 Speaker 1: and more expansive, and you get into kind of a 53 00:03:09,760 --> 00:03:12,080 Speaker 1: few different areas. But anyway, she said a bunch of 54 00:03:12,120 --> 00:03:15,720 Speaker 1: things that inflation is not taking off again, kind of 55 00:03:15,760 --> 00:03:18,080 Speaker 1: just trying to put to bed these fears that it 56 00:03:18,160 --> 00:03:21,400 Speaker 1: is just going to become rampant. So, yes, it is elevated. 57 00:03:21,680 --> 00:03:25,079 Speaker 1: The labor market is tight. We do have a tight 58 00:03:25,160 --> 00:03:27,959 Speaker 1: labor market. But she said that the story itself is 59 00:03:28,000 --> 00:03:31,120 Speaker 1: actually pretty good. The economy is recovering. But what she 60 00:03:31,160 --> 00:03:33,160 Speaker 1: went into, which I thought was really interesting, is just 61 00:03:33,280 --> 00:03:36,640 Speaker 1: how hard the job is for the Reserve Bank Board 62 00:03:36,960 --> 00:03:40,240 Speaker 1: at the moment. That is, it's not like when we're 63 00:03:40,280 --> 00:03:44,800 Speaker 1: coming out of COVID and inflation was just going crazy, 64 00:03:45,160 --> 00:03:47,400 Speaker 1: and the path there was, as she said, was very 65 00:03:47,560 --> 00:03:49,760 Speaker 1: very clear. We needed to hike rate so we needed 66 00:03:49,760 --> 00:03:52,520 Speaker 1: to hike them quickly. And now it is very much 67 00:03:53,080 --> 00:03:55,880 Speaker 1: a lot more of a difficult situation where it's not 68 00:03:56,000 --> 00:03:57,240 Speaker 1: clear what they need to do. 69 00:03:57,320 --> 00:04:02,640 Speaker 2: So boohoo for the Reserve Bank Board. You're getting paid. 70 00:04:03,000 --> 00:04:06,920 Speaker 2: It's your job. You know, you're getting kind of incredible 71 00:04:07,040 --> 00:04:09,880 Speaker 2: cute os for being on the Reserve Bank Board. Take it. 72 00:04:10,480 --> 00:04:11,520 Speaker 2: I don't want to hear you get play. 73 00:04:12,640 --> 00:04:16,279 Speaker 1: You're also going to get hammered if you do anything wrong, right, Like, 74 00:04:16,320 --> 00:04:19,960 Speaker 1: if you make the wrong decision, it affects so many 75 00:04:20,000 --> 00:04:22,440 Speaker 1: people and you will get hammered for it. So I 76 00:04:22,560 --> 00:04:24,359 Speaker 1: feel sorry for them. At least if I make the 77 00:04:24,360 --> 00:04:26,960 Speaker 1: wrong decision by picking the wrong story in the weekend edition, 78 00:04:27,480 --> 00:04:29,800 Speaker 1: there'll be a few people at ham of me. You 79 00:04:29,880 --> 00:04:32,760 Speaker 1: will hammer me, Adam I will sometimes if he turns 80 00:04:32,800 --> 00:04:33,920 Speaker 1: if he was hammer me. 81 00:04:34,120 --> 00:04:34,839 Speaker 2: Yep, yep. 82 00:04:35,640 --> 00:04:39,440 Speaker 1: But anyway, is that your biggest story? Yeah, it didn't 83 00:04:39,440 --> 00:04:40,320 Speaker 1: sound very big. 84 00:04:41,240 --> 00:04:43,240 Speaker 2: It's hard to actually put the mellow drama when Adam's 85 00:04:43,279 --> 00:04:43,560 Speaker 2: not here. 86 00:04:44,080 --> 00:04:46,479 Speaker 1: Oh, I don't know. I reckon, I reckon. I still 87 00:04:46,480 --> 00:04:47,159 Speaker 1: give it a crack. 88 00:04:49,960 --> 00:04:54,279 Speaker 2: My biggest story of the week is earnings and the market. 89 00:04:54,320 --> 00:04:57,880 Speaker 2: The ASEX two hundred hit a record high. If Adam 90 00:04:58,000 --> 00:05:01,080 Speaker 2: was here, I'd be crapping on about super granuation funds 91 00:05:01,120 --> 00:05:03,520 Speaker 2: and how we've all got money in shares and how 92 00:05:03,520 --> 00:05:06,280 Speaker 2: we're all richer this week than we were last week. 93 00:05:06,279 --> 00:05:09,280 Speaker 2: In what a wonderful world it is the Big Reserve. 94 00:05:09,560 --> 00:05:12,720 Speaker 2: Big earnings this week included Woolly's Quantas. We'll talk more 95 00:05:12,720 --> 00:05:16,600 Speaker 2: about those later on Woodside, Fortescue Metals, WIS Tech Global, 96 00:05:17,160 --> 00:05:22,559 Speaker 2: some really really big moves after announcements, say company's jumping 97 00:05:22,600 --> 00:05:26,560 Speaker 2: ten like massive companies jumping ten percent or falling ten percent. 98 00:05:27,080 --> 00:05:29,960 Speaker 2: And you know what's pretty remarkable what you're talking about? 99 00:05:30,040 --> 00:05:33,240 Speaker 2: Higher interest rates that should put a dampner on the 100 00:05:33,279 --> 00:05:38,400 Speaker 2: ASX two hundred twice this week it hit record highs 101 00:05:39,000 --> 00:05:42,640 Speaker 2: and certainly in terms of impact on the rest of us, Michael, 102 00:05:42,920 --> 00:05:46,240 Speaker 2: and you actually and you you've got some granuation. That 103 00:05:47,160 --> 00:05:51,119 Speaker 2: is the biggest story of the week. Now without Adam 104 00:05:51,160 --> 00:05:54,480 Speaker 2: here to say, oh yeah, but the economy matters to everyone, Michael, 105 00:05:54,480 --> 00:05:56,640 Speaker 2: you win, which is exactly what he would say. 106 00:05:56,960 --> 00:06:00,560 Speaker 1: I know, I am. I am so unhappy that he 107 00:06:00,640 --> 00:06:03,039 Speaker 1: is not here because I would have won that one, 108 00:06:03,080 --> 00:06:05,280 Speaker 1: even though I don't deserve to, because you know what 109 00:06:05,320 --> 00:06:08,400 Speaker 1: we should have Essentially, Adam Bot It's like It's like 110 00:06:08,640 --> 00:06:11,640 Speaker 1: an AI version of Adam. What would Adam say in 111 00:06:11,720 --> 00:06:15,200 Speaker 1: this scenario? Right? And Adam would say, look, yeap, the 112 00:06:15,279 --> 00:06:18,000 Speaker 1: economy is important. Interest rates. 113 00:06:18,120 --> 00:06:22,720 Speaker 2: The phone ring Michael, yes with Adam. Oh, it was 114 00:06:22,800 --> 00:06:28,000 Speaker 2: Adam Oh. I really hope he jumps on shortly. 115 00:06:28,680 --> 00:06:31,279 Speaker 1: Me too, Me too. Let's jump into most so I 116 00:06:31,360 --> 00:06:35,360 Speaker 1: win that one. Let's move into most remarkable. So you 117 00:06:35,360 --> 00:06:36,000 Speaker 1: go for it. 118 00:06:36,680 --> 00:06:44,360 Speaker 2: Okay, Capital gains tax reform. It is on this particular 119 00:06:45,240 --> 00:06:50,320 Speaker 2: category and this particular entry purely for Adam. Treasury is 120 00:06:50,360 --> 00:06:54,360 Speaker 2: doing work on it, most likely thirty three percent, fifty percent. 121 00:06:55,680 --> 00:07:00,279 Speaker 2: Treasury is talking out about it being retrospective. Wow, so 122 00:07:00,360 --> 00:07:03,440 Speaker 2: if you already have a house, you're getting that concession. 123 00:07:03,839 --> 00:07:06,680 Speaker 2: We're going to lose it. Well, reduced from fifty to 124 00:07:06,720 --> 00:07:10,240 Speaker 2: thirty three percent, that would be pretty amazing. Matt come off. 125 00:07:10,240 --> 00:07:13,120 Speaker 2: Bank boss came on. He was on Meeta this week. 126 00:07:13,280 --> 00:07:16,640 Speaker 2: He said, look, I don't disagree with it. Now, this 127 00:07:16,680 --> 00:07:18,880 Speaker 2: is a guy who runs a bank, who's the biggest 128 00:07:18,880 --> 00:07:21,560 Speaker 2: home lander in the country. Surely they're going to suffer 129 00:07:21,560 --> 00:07:23,360 Speaker 2: somewhat if it comes in. And he says it's not 130 00:07:23,400 --> 00:07:26,160 Speaker 2: the worst idea. A bunch of others the guy who 131 00:07:26,200 --> 00:07:28,720 Speaker 2: used to run the ACT. You Bill Kelty in my 132 00:07:28,880 --> 00:07:32,600 Speaker 2: time a kind of a legend nowadays, who's Bill Kelty? Well, 133 00:07:32,600 --> 00:07:35,720 Speaker 2: he used to run the ACTU did the accord with 134 00:07:36,040 --> 00:07:39,880 Speaker 2: Bob Hawk which changed our economy for good. Ken Henry 135 00:07:39,960 --> 00:07:43,000 Speaker 2: used to run Treasury, Bernie Fraser run the Reserve Bank. 136 00:07:43,000 --> 00:07:46,680 Speaker 2: They will come out and said, yeah, not a bad idea. Actually, Michael, 137 00:07:46,720 --> 00:07:49,720 Speaker 2: this is actually how politics works. The government floats the 138 00:07:49,800 --> 00:07:52,600 Speaker 2: idea and Jim Thomas this week keeps talking about, oh, 139 00:07:52,920 --> 00:07:55,200 Speaker 2: and we're looking at all the best options for the budget. 140 00:07:55,200 --> 00:07:58,920 Speaker 2: So he's not talking it up, but he's not talking 141 00:07:58,920 --> 00:08:01,480 Speaker 2: it down either, and he's just letting it sit now 142 00:08:01,680 --> 00:08:05,360 Speaker 2: and see how it goes with the market and with 143 00:08:05,480 --> 00:08:08,680 Speaker 2: the economy and with the people who are voting. Basically, 144 00:08:09,280 --> 00:08:13,400 Speaker 2: and I reckon at this point, I would say it 145 00:08:13,520 --> 00:08:16,600 Speaker 2: is on in some form, maybe not retrospective. The issue 146 00:08:16,600 --> 00:08:18,600 Speaker 2: is if it's not retrospective, maybe you don't make enough 147 00:08:18,640 --> 00:08:20,640 Speaker 2: money from it. But it is on. 148 00:08:21,040 --> 00:08:22,800 Speaker 1: Yeah, yeah, but at least we would tighten it for 149 00:08:22,840 --> 00:08:26,800 Speaker 1: the future. Then the interesting that you say, yeah, that's 150 00:08:26,800 --> 00:08:29,560 Speaker 1: how politics works, and yeah, you do see these things 151 00:08:29,600 --> 00:08:31,200 Speaker 1: kind of come up every now and then, don't you 152 00:08:31,240 --> 00:08:33,120 Speaker 1: see kind of things being floated, and if it just 153 00:08:33,120 --> 00:08:35,760 Speaker 1: gets hammered, it just dies away and never gets mentioned again. 154 00:08:36,200 --> 00:08:38,880 Speaker 1: It's my every time I see like the GST question 155 00:08:39,040 --> 00:08:41,360 Speaker 1: come up, you just go, how are people going through 156 00:08:41,360 --> 00:08:47,600 Speaker 1: his spot? Oh dear, I hang on, Sean, guess who's arrived. 157 00:08:50,920 --> 00:08:55,040 Speaker 2: Logging on as we speak the man himself. 158 00:08:57,080 --> 00:09:00,480 Speaker 1: Welcome, good morning. 159 00:09:00,559 --> 00:09:01,960 Speaker 3: Terrible form, isn't it. 160 00:09:02,200 --> 00:09:05,840 Speaker 1: I'm so sorry, but you know what you're judging in 161 00:09:05,880 --> 00:09:08,480 Speaker 1: your's actually was actually pretty good. 162 00:09:08,520 --> 00:09:15,000 Speaker 2: It's been excellent because I'm leading. So in short, no no, no, no, no, no, 163 00:09:15,440 --> 00:09:17,119 Speaker 2: are halfway through most remarkable. 164 00:09:17,160 --> 00:09:19,400 Speaker 1: That's all. That's all I'm going to say. That's all 165 00:09:19,400 --> 00:09:24,080 Speaker 1: I'm going to say. And that Sean, I haven't even 166 00:09:24,160 --> 00:09:28,040 Speaker 1: done my entry. This shows you how rid this thing is. 167 00:09:28,320 --> 00:09:31,719 Speaker 1: But look, if you knew what Sean said just then, 168 00:09:32,400 --> 00:09:35,400 Speaker 1: you would be all over that one like a rash. 169 00:09:36,480 --> 00:09:38,840 Speaker 1: I need to tell you about the true most remarkable 170 00:09:38,880 --> 00:09:42,280 Speaker 1: story of the week, Adam. Ignore everything that Sean said, 171 00:09:42,280 --> 00:09:44,040 Speaker 1: which will not be difficult because you didn't hear it. 172 00:09:44,520 --> 00:09:54,200 Speaker 4: Nvidia Nvidia wow right, wow wow, It's results through the 173 00:09:54,240 --> 00:09:58,760 Speaker 4: week profit from one quarter of what was it around 174 00:09:58,760 --> 00:10:03,199 Speaker 4: forty forty three billion US dollars. 175 00:10:04,040 --> 00:10:08,520 Speaker 1: Wow, one quarter annual profit. It has now gone up 176 00:10:08,559 --> 00:10:09,720 Speaker 1: to hunting. 177 00:10:09,880 --> 00:10:13,640 Speaker 2: Wow. A lot doesn't make a good story, remarkable story. 178 00:10:14,520 --> 00:10:18,160 Speaker 1: It reminds me of just how spectacular these numbers are, 179 00:10:18,440 --> 00:10:22,680 Speaker 1: right one, because it feels like otherwise it just gets lost. 180 00:10:22,840 --> 00:10:25,800 Speaker 1: It just gets lost in the endless chatter of this show. 181 00:10:26,280 --> 00:10:30,120 Speaker 1: One hundred and twenty billion US dollars. 182 00:10:30,240 --> 00:10:35,520 Speaker 2: Tell you in this show today, Adam, it wasn't here. 183 00:10:39,280 --> 00:10:39,559 Speaker 2: Go on. 184 00:10:40,280 --> 00:10:42,160 Speaker 3: I'm in my own house, but I got lost on 185 00:10:42,200 --> 00:10:42,520 Speaker 3: the way. 186 00:10:44,480 --> 00:10:50,440 Speaker 1: It's revenue. The quarterly revenue sixty two billion US dollars, right, 187 00:10:50,720 --> 00:10:55,199 Speaker 1: and it is forecasting for the current quarter seventy eight 188 00:10:55,880 --> 00:10:59,199 Speaker 1: billion dollars. I just take those I'm not going to 189 00:10:59,240 --> 00:11:03,280 Speaker 1: say wow again, but just take those numbers in they 190 00:11:03,320 --> 00:11:08,800 Speaker 1: are staggering figures for revenue and for profit. The AI boom, 191 00:11:08,920 --> 00:11:11,520 Speaker 1: at least in the chips side of it, at least 192 00:11:11,800 --> 00:11:15,480 Speaker 1: in the actual hardware that is required for the AI boom, 193 00:11:15,800 --> 00:11:20,080 Speaker 1: is booming. The hyperscalas the big tech companies have a 194 00:11:20,280 --> 00:11:24,360 Speaker 1: massive appetite for everything that Nvidia is producing. It it control 195 00:11:24,440 --> 00:11:27,080 Speaker 1: something like ninety three percent I think it is of 196 00:11:27,120 --> 00:11:30,200 Speaker 1: that market. So it is in the perfect position. It 197 00:11:30,280 --> 00:11:34,600 Speaker 1: is the very beating heart of the AI boom. This 198 00:11:34,679 --> 00:11:40,480 Speaker 1: thing is extraordinary. Is it a bubble? Mate? It might 199 00:11:40,559 --> 00:11:44,319 Speaker 1: still be a bubble because initially, initially when these results 200 00:11:44,320 --> 00:11:46,080 Speaker 1: came out, it was like, okay, all right, this is 201 00:11:46,120 --> 00:11:50,600 Speaker 1: eased fears around these bubble concerns that yes, demand is 202 00:11:50,600 --> 00:11:53,720 Speaker 1: still very strong. We saw the local impact on tech 203 00:11:53,800 --> 00:11:56,400 Speaker 1: stocks that all of a sudden we had Wise Tech 204 00:11:56,440 --> 00:11:59,480 Speaker 1: Global jump and Technology one jump, and a bunch of 205 00:11:59,559 --> 00:12:02,080 Speaker 1: other texts stocks recovered because there has been these fears 206 00:12:02,120 --> 00:12:05,199 Speaker 1: around the potential for AI to kind of eat into 207 00:12:05,240 --> 00:12:07,560 Speaker 1: what software companies can do, and this was just it 208 00:12:07,720 --> 00:12:11,400 Speaker 1: just soothed sentiment. It made everyone feel a little bit better. Obviously, 209 00:12:11,840 --> 00:12:15,960 Speaker 1: last morning it didn't last, and Video then tumbled the 210 00:12:16,000 --> 00:12:19,319 Speaker 1: next night. Investors aren't so sure. The ensen Huang, the 211 00:12:19,679 --> 00:12:23,200 Speaker 1: boss of the boss of end Video, was just saying no, no, no, no, 212 00:12:23,480 --> 00:12:26,120 Speaker 1: the hyperscalers. Of course, you would expect them to say this, 213 00:12:26,200 --> 00:12:28,959 Speaker 1: because no, no, the hyperscalers. They'll use this tech to make 214 00:12:29,000 --> 00:12:31,080 Speaker 1: more money. That's fine. Their cash flow is going to 215 00:12:31,080 --> 00:12:33,120 Speaker 1: be fined. More money will be coming in because they're 216 00:12:33,120 --> 00:12:37,520 Speaker 1: spending this money. Investors, it appears, do not necessarily agree that, yes, 217 00:12:37,760 --> 00:12:40,280 Speaker 1: these companies are spending a stack of money and videos 218 00:12:40,280 --> 00:12:42,839 Speaker 1: making a stack of money. But is anyone else going 219 00:12:42,880 --> 00:12:45,160 Speaker 1: to make any money out of it? Who knows? Anyway, 220 00:12:45,400 --> 00:12:48,839 Speaker 1: most remarkable story of the week, you know what, it's 221 00:12:48,880 --> 00:12:51,280 Speaker 1: the most remarkable story of the year. We can call 222 00:12:51,320 --> 00:12:53,840 Speaker 1: it now over to you out because this whole AI 223 00:12:53,920 --> 00:12:55,000 Speaker 1: boom is the year. 224 00:12:55,120 --> 00:12:57,679 Speaker 2: Michael Michaels enough enough. 225 00:12:59,679 --> 00:13:03,800 Speaker 3: Look, given that I didn't hear Sean's story, it's very 226 00:13:03,840 --> 00:13:06,720 Speaker 3: difficult to make a complete judgment. 227 00:13:08,080 --> 00:13:11,440 Speaker 2: Adam, you are a professional. You have come in a 228 00:13:11,440 --> 00:13:14,920 Speaker 2: little bit late, but you are here on the fly, 229 00:13:15,080 --> 00:13:17,320 Speaker 2: ready to go and just say, Sean, you win. 230 00:13:19,720 --> 00:13:23,760 Speaker 1: Michael wins a good decision, the great decision. 231 00:13:23,800 --> 00:13:28,600 Speaker 2: You're up to nil now. Oh so what I think 232 00:13:28,640 --> 00:13:31,000 Speaker 2: is beautiful is that Michael won because you like the 233 00:13:31,040 --> 00:13:34,200 Speaker 2: economy more than you like earnings. And Michael won that 234 00:13:34,240 --> 00:13:36,600 Speaker 2: time because you hate capital gains tax reform. You hate 235 00:13:36,640 --> 00:13:38,679 Speaker 2: tax reform. It's one of the things you don't. 236 00:13:38,679 --> 00:13:41,560 Speaker 1: What I've judged again, Yeah, no. 237 00:13:41,280 --> 00:13:44,480 Speaker 2: Because this week it came to four. It's on and 238 00:13:44,559 --> 00:13:45,400 Speaker 2: but Adam. 239 00:13:45,280 --> 00:13:46,280 Speaker 1: I think you could be right. 240 00:13:46,320 --> 00:13:50,240 Speaker 2: Sean. You, Adam, you don't get to say. 241 00:13:50,160 --> 00:13:51,320 Speaker 1: It hasn't happened here. 242 00:13:51,559 --> 00:13:53,280 Speaker 3: Maybe I can solve myself with that. 243 00:13:53,559 --> 00:13:55,760 Speaker 1: Yeah, no, no, you made the right call, Adam. But 244 00:13:55,880 --> 00:13:57,480 Speaker 1: in the end we just had to picture what would 245 00:13:57,520 --> 00:14:00,800 Speaker 1: Adam say here, and we just assumed was the case. 246 00:14:01,240 --> 00:14:03,480 Speaker 2: We both agreed that the earnings was the biggest story, 247 00:14:03,480 --> 00:14:06,439 Speaker 2: but Adam would like economy, so may I've got that one. 248 00:14:06,920 --> 00:14:12,000 Speaker 3: Mm hm, you, my judgment would have naturally been flawed gone, 249 00:14:13,040 --> 00:14:15,480 Speaker 3: and then the capital gainsas would certainly have won. 250 00:14:15,559 --> 00:14:18,320 Speaker 1: But then you saved me. You saved me, Adam, by 251 00:14:18,400 --> 00:14:20,600 Speaker 1: joining halfway through and by us not telling you what 252 00:14:20,640 --> 00:14:26,720 Speaker 1: it already transpired. Okay, quick break, little rest if in 253 00:14:26,760 --> 00:14:28,600 Speaker 1: case anyone just needs to go and splash their face 254 00:14:28,640 --> 00:14:31,160 Speaker 1: and wake up anyone at all. Back in a moment. 255 00:14:38,280 --> 00:14:41,200 Speaker 1: All right, Sean, we are looking now for our our 256 00:14:41,240 --> 00:14:43,200 Speaker 1: mystery category. And this is always a bit of fun 257 00:14:43,280 --> 00:14:47,480 Speaker 1: because it keeps our judge guessing, much like ESP guessing. 258 00:14:47,560 --> 00:14:51,440 Speaker 1: So far as to what we've actually talked about. The 259 00:14:52,240 --> 00:14:59,440 Speaker 1: mystery category today is MVP CEO over last eighteen months 260 00:14:59,520 --> 00:15:03,680 Speaker 1: or so. All right, Okay, it's a pretty good one. 261 00:15:03,920 --> 00:15:05,160 Speaker 2: Over in the last two and a half years. 262 00:15:05,160 --> 00:15:07,040 Speaker 1: It has to be you're happy with that two and 263 00:15:07,080 --> 00:15:09,480 Speaker 1: a half years. I would prefer two and a half years, 264 00:15:09,560 --> 00:15:12,000 Speaker 1: because I was like, how do I shoehorn mine into 265 00:15:12,040 --> 00:15:15,760 Speaker 1: eighteen months and it doesn't fit? You've bailed me out? 266 00:15:16,280 --> 00:15:17,240 Speaker 1: Do you want to go first? 267 00:15:17,360 --> 00:15:18,320 Speaker 2: You go first? 268 00:15:18,480 --> 00:15:23,400 Speaker 1: Okay, all right, there's only one option here. It has 269 00:15:23,440 --> 00:15:27,800 Speaker 1: to be Vanessa Hudson. It has to be the Quantus CEO, right, 270 00:15:27,880 --> 00:15:30,000 Speaker 1: And I'm going to put aside This is going to 271 00:15:30,040 --> 00:15:32,840 Speaker 1: be a difficult concept for you to understand, Adam, but 272 00:15:32,840 --> 00:15:35,800 Speaker 1: I'm going to put aside my bias. I don't know 273 00:15:35,840 --> 00:15:38,680 Speaker 1: why I'm attacking you. I'm sorry, but I'm going to 274 00:15:38,760 --> 00:15:41,240 Speaker 1: put aside my plane bias and the fact that I 275 00:15:41,240 --> 00:15:44,240 Speaker 1: love anything to do with planes and Quantus and anything 276 00:15:44,280 --> 00:15:46,760 Speaker 1: to do with airlines whatsoever, and just look at the 277 00:15:46,760 --> 00:15:48,480 Speaker 1: facts of this and just go, you know what, Vanessa 278 00:15:48,560 --> 00:15:52,400 Speaker 1: Hudson is the MVP CEO of the last two and 279 00:15:52,440 --> 00:15:55,160 Speaker 1: a half years. So this week, right, the Dally M 280 00:15:55,440 --> 00:15:59,880 Speaker 1: the Brownlow medallist, ye, all of Hudson. She would have 281 00:16:00,000 --> 00:16:02,840 Speaker 1: to scoop the pool on all on all of these 282 00:16:04,320 --> 00:16:07,080 Speaker 1: record underlying profit one and a half billion dollars for 283 00:16:07,120 --> 00:16:11,600 Speaker 1: the half for Quantus, Right, Okay, that's great. Five percent 284 00:16:11,720 --> 00:16:16,040 Speaker 1: up on the prior year. Great, Yes, there was a 285 00:16:16,120 --> 00:16:18,760 Speaker 1: nine percent fall in the share price after the results. 286 00:16:18,880 --> 00:16:19,200 Speaker 2: That was. 287 00:16:21,080 --> 00:16:24,200 Speaker 1: But that's just a little kind of a little asterix 288 00:16:25,040 --> 00:16:30,280 Speaker 1: slightly wobbly international outlook. The domestic business is very very strong. 289 00:16:30,840 --> 00:16:35,760 Speaker 1: International outlook is looking a little bit shakier. But but 290 00:16:36,680 --> 00:16:40,200 Speaker 1: and this is the key here, right, Quantus's share price 291 00:16:40,480 --> 00:16:46,480 Speaker 1: is up something like one hundred and twenty percent since 292 00:16:46,880 --> 00:16:49,880 Speaker 1: October twenty twenty three, since the days of Alan. 293 00:16:49,680 --> 00:16:53,080 Speaker 2: Joyce two and a half years yep, two and a 294 00:16:53,120 --> 00:16:58,160 Speaker 2: half years, long long run, one hundred and twenty percent. 295 00:16:58,720 --> 00:17:02,240 Speaker 1: If that is not the same of an MVP CEO, 296 00:17:02,760 --> 00:17:07,000 Speaker 1: I don't know what is. And if you put aside 297 00:17:07,119 --> 00:17:10,639 Speaker 1: those figures right, consider what I think would actually probably 298 00:17:10,640 --> 00:17:14,080 Speaker 1: be almost the most important story for Quantus is the 299 00:17:14,160 --> 00:17:19,160 Speaker 1: fact that customer satisfaction scores have rebounded, staff engagement is up. 300 00:17:19,160 --> 00:17:22,159 Speaker 1: Because you need to picture it. Remember just Quantus was 301 00:17:22,160 --> 00:17:25,440 Speaker 1: an airline in the absolute pits right when Alan Joe, 302 00:17:25,680 --> 00:17:28,680 Speaker 1: when Alan Joyce left, because remember they had the a 303 00:17:28,800 --> 00:17:32,520 Speaker 1: Triple C drama, the legal action over ghost flights where 304 00:17:32,520 --> 00:17:36,040 Speaker 1: people were booking flights and paying for tickets on flights 305 00:17:36,040 --> 00:17:39,760 Speaker 1: that didn't actually exist anymore. We had the illegally sacked 306 00:17:39,840 --> 00:17:43,120 Speaker 1: luggage handlers, eighteen hundred of them. We had late flights, 307 00:17:43,240 --> 00:17:45,920 Speaker 1: we had lost baggage, we had customer service that people 308 00:17:45,960 --> 00:17:51,359 Speaker 1: couldn't actually get through. Branded well, but the recovery, the 309 00:17:51,440 --> 00:17:59,200 Speaker 1: recovery has blossomed this week, Sean and Quantus's brand damage 310 00:17:59,480 --> 00:18:04,040 Speaker 1: was extra and it has been repaired by this mvpco 311 00:18:04,160 --> 00:18:06,760 Speaker 1: Vanessa Hudson over to year, Sean, it's done. 312 00:18:06,880 --> 00:18:09,800 Speaker 2: I put aside, just like that, talk about the fact 313 00:18:09,840 --> 00:18:12,520 Speaker 2: that it fell nine point two percent. I mentioned it 314 00:18:12,720 --> 00:18:13,080 Speaker 2: came out. 315 00:18:13,160 --> 00:18:15,239 Speaker 1: I mentioned that we're not going to worry about that. 316 00:18:16,080 --> 00:18:17,680 Speaker 1: I don't need to. 317 00:18:17,240 --> 00:18:18,720 Speaker 2: Worry about the fact that we could have had this 318 00:18:18,920 --> 00:18:20,440 Speaker 2: exact same story six months ago. 319 00:18:20,960 --> 00:18:22,760 Speaker 1: We didn't have this category six months ago. 320 00:18:23,359 --> 00:18:28,520 Speaker 2: You're using sporting analogies, whereas my MVP is more like 321 00:18:29,520 --> 00:18:32,959 Speaker 2: the logis. I was gonna say, okay, well, the Golden Globes, 322 00:18:32,960 --> 00:18:34,000 Speaker 2: but let's get the least. 323 00:18:33,760 --> 00:18:37,280 Speaker 1: About the Oscars. Let's why wouldn't you have at the top. 324 00:18:37,640 --> 00:18:42,000 Speaker 2: Look, we'll go Oscars full drama. Ad don't you have 325 00:18:42,000 --> 00:18:47,639 Speaker 2: any idea who I'm talking about? Vanessa Hudson, No, Amanda Bardwell, 326 00:18:48,359 --> 00:18:51,400 Speaker 2: the first woman to lead Woolworth's one of the great 327 00:18:51,440 --> 00:18:54,639 Speaker 2: retailers in this country in one hundred years. Its share 328 00:18:54,680 --> 00:19:00,240 Speaker 2: price hit a seventeen month high this week, dumped twelve 329 00:19:00,280 --> 00:19:02,399 Speaker 2: percent on one day on the back of a strong 330 00:19:02,600 --> 00:19:06,560 Speaker 2: profit result, the biggest one day rise for Woolies in 331 00:19:06,720 --> 00:19:10,439 Speaker 2: thirty years. Profit was higher, revenue was higher, food sales 332 00:19:10,440 --> 00:19:14,560 Speaker 2: were up. Online grocery sales aren't more than fifteen percent. 333 00:19:15,119 --> 00:19:17,399 Speaker 2: What is quite remarkable. It's the first three months of 334 00:19:17,480 --> 00:19:21,080 Speaker 2: the half year we thought it was going backwards, whereas 335 00:19:21,200 --> 00:19:24,840 Speaker 2: the next three months she turned it around. Now I'm 336 00:19:24,880 --> 00:19:27,280 Speaker 2: not saying they don't have some issues with the ahriable 337 00:19:27,320 --> 00:19:30,919 Speaker 2: c coming up, that's true. But this is the company 338 00:19:30,920 --> 00:19:36,040 Speaker 2: whose boss Brad Banducci went on four corners, stormed out, 339 00:19:36,560 --> 00:19:41,359 Speaker 2: ripped out the microphones. The guy Angus Grigg, he was 340 00:19:41,400 --> 00:19:44,120 Speaker 2: the reporter and he's looking there going where are you going? 341 00:19:45,560 --> 00:19:50,240 Speaker 2: He took off. She took the job an understated person. 342 00:19:50,840 --> 00:19:54,359 Speaker 2: I know there's a male female thing, like Vanessa Hudson 343 00:19:54,400 --> 00:19:57,800 Speaker 2: Allen Joyce, it's a male female thing here. Amanda Barbill 344 00:19:58,280 --> 00:20:02,480 Speaker 2: incredibly turn around for Woolies in such a short time. 345 00:20:02,880 --> 00:20:04,880 Speaker 2: I mean, I agree, Quantus is an incredible turnaround too, 346 00:20:04,920 --> 00:20:07,200 Speaker 2: So no doubt about that. But that's been going on. 347 00:20:07,840 --> 00:20:09,960 Speaker 2: This is the week that we found out that actually 348 00:20:10,000 --> 00:20:13,480 Speaker 2: Woolies their bottom line a lot more shareholders than Wollies 349 00:20:13,480 --> 00:20:16,520 Speaker 2: and Quantas I made that up, No idea what that's 350 00:20:16,560 --> 00:20:18,760 Speaker 2: to do it or not? Just throwing it in there. 351 00:20:18,840 --> 00:20:23,159 Speaker 1: Oh sure, with conviction you have become me. You're milling 352 00:20:23,240 --> 00:20:24,280 Speaker 1: in the gas. 353 00:20:24,320 --> 00:20:27,560 Speaker 2: I know, and you would think that would be true. 354 00:20:28,040 --> 00:20:30,760 Speaker 2: But Quantas for the company, the side it is has 355 00:20:30,800 --> 00:20:34,119 Speaker 2: an enormous amount of shareholders, which is kind of interesting anyway, 356 00:20:34,520 --> 00:20:38,240 Speaker 2: whatever a man of barble, she trumps Vanessa Hudson every 357 00:20:38,480 --> 00:20:43,760 Speaker 2: day of this week anyway, Adam. 358 00:20:42,359 --> 00:20:46,280 Speaker 3: So look, I'd love I think they're both great stories, 359 00:20:46,320 --> 00:20:52,239 Speaker 3: great contenders for MVP, both terrific turnaround stories. I'm going 360 00:20:52,280 --> 00:20:54,960 Speaker 3: to give it to Sean because in the case of 361 00:20:55,000 --> 00:20:57,879 Speaker 3: all worse and Michael, you happen to be one of 362 00:20:57,880 --> 00:21:01,959 Speaker 3: the relevant customers. So many more people that it serves. 363 00:21:02,240 --> 00:21:05,720 Speaker 3: So if Woolies is doing well, being strong, strong competition 364 00:21:05,800 --> 00:21:10,160 Speaker 3: in supermarket retail, that's better for more people. I still 365 00:21:10,160 --> 00:21:12,159 Speaker 3: think the Quantum story is amazing, but I think this 366 00:21:12,200 --> 00:21:15,800 Speaker 3: Woolies one. The tenure the short tenure and the impact 367 00:21:15,880 --> 00:21:19,000 Speaker 3: on more people. Woolies just wins. 368 00:21:18,440 --> 00:21:22,439 Speaker 2: I think that's a capital gains tax reform sort of 369 00:21:22,480 --> 00:21:25,359 Speaker 2: payback because he's very upset. He didn't say that one. 370 00:21:25,560 --> 00:21:27,960 Speaker 1: Yeah, he's trying to trying to recover him. Can I 371 00:21:28,000 --> 00:21:30,000 Speaker 1: add two things? That Number one is just how many 372 00:21:30,000 --> 00:21:32,560 Speaker 1: people are doing online shopping now that we saw in 373 00:21:32,600 --> 00:21:35,440 Speaker 1: those results from Willies, which is just insane. It's great, right, 374 00:21:35,600 --> 00:21:36,560 Speaker 1: and you're one of them, right. 375 00:21:38,080 --> 00:21:41,080 Speaker 2: I don't like online shopping, no, no, no, no, no no. 376 00:21:41,520 --> 00:21:45,400 Speaker 2: I love online shopping. I don't like online grocery shopping. 377 00:21:45,520 --> 00:21:50,960 Speaker 1: Yeah, oh god, so easy. Now the apps are so 378 00:21:51,320 --> 00:21:52,400 Speaker 1: and whether it's cold. 379 00:21:52,480 --> 00:21:55,320 Speaker 3: Trust them to pick the right apples for you. 380 00:21:55,320 --> 00:21:59,760 Speaker 1: Michael generally, Yeah, yeah they do. There have been some 381 00:22:00,600 --> 00:22:04,000 Speaker 1: decisions in the past, but you know what, but you 382 00:22:04,040 --> 00:22:06,200 Speaker 1: can just complain about it. And that's actually the wealth. 383 00:22:06,520 --> 00:22:09,800 Speaker 1: Did you see the story about Olive, the the AI bot. 384 00:22:10,320 --> 00:22:12,879 Speaker 1: This is the this is the Woolies AI bot that 385 00:22:13,280 --> 00:22:15,040 Speaker 1: if you go onto the app, it's got Olive and 386 00:22:15,560 --> 00:22:19,720 Speaker 1: it's cute. Yeah, she's got too much personality. She's she's 387 00:22:19,760 --> 00:22:22,520 Speaker 1: been talking too much about her mother and her uncle, 388 00:22:22,880 --> 00:22:26,240 Speaker 1: the things. And it turns out and basically that as 389 00:22:26,280 --> 00:22:28,280 Speaker 1: people kind of gave their day to birth in order 390 00:22:28,320 --> 00:22:30,960 Speaker 1: to log in, she would be commenting, oh, yeah, my 391 00:22:31,000 --> 00:22:33,560 Speaker 1: mother was born in that year, or I had an 392 00:22:33,600 --> 00:22:36,680 Speaker 1: uncle that was born then too, and and my mother 393 00:22:36,720 --> 00:22:39,119 Speaker 1: had a really angry voice and things like this. And 394 00:22:39,160 --> 00:22:41,080 Speaker 1: it turns out that it was a staff member ages 395 00:22:41,119 --> 00:22:43,280 Speaker 1: ago put those lines in there just to give Olive 396 00:22:43,320 --> 00:22:46,119 Speaker 1: a little bit of personality. But now people have started complaining, 397 00:22:46,760 --> 00:22:47,760 Speaker 1: complaining about it. 398 00:22:47,800 --> 00:22:51,639 Speaker 3: But doesn't that mirror exactly what happens at the in 399 00:22:51,680 --> 00:22:54,280 Speaker 3: the shops themselves, likely people who love a chat and 400 00:22:54,359 --> 00:22:57,520 Speaker 3: you can just hear them talking with your trolley waiting through. Yeah, 401 00:22:58,320 --> 00:22:59,399 Speaker 3: the conversations they have. 402 00:23:00,119 --> 00:23:03,320 Speaker 2: This is a serious question. So my local Willies is 403 00:23:03,320 --> 00:23:05,959 Speaker 2: actually our local store that we go to, and there 404 00:23:06,000 --> 00:23:13,040 Speaker 2: are certain people on the checkout that you avoid, like 405 00:23:13,080 --> 00:23:15,959 Speaker 2: too much chat. Yeah, and you know that it's going 406 00:23:15,960 --> 00:23:18,679 Speaker 2: to take forever. And there's one woman in particular at 407 00:23:18,720 --> 00:23:21,359 Speaker 2: my local which I'm not going to mention you. You 408 00:23:21,440 --> 00:23:26,360 Speaker 2: actually see q's and q's in the other checkout areas 409 00:23:26,920 --> 00:23:31,080 Speaker 2: and like one and a half people at hers, because 410 00:23:31,119 --> 00:23:34,280 Speaker 2: everyone that goes there regularly knows a chat is going 411 00:23:34,320 --> 00:23:38,040 Speaker 2: to go on forever and ever, and it's yeah anyway, Well. 412 00:23:38,080 --> 00:23:41,280 Speaker 1: I mean as a as a former checkout chap myself. 413 00:23:41,880 --> 00:23:45,160 Speaker 1: When I was working at Bilo, which is now part 414 00:23:45,200 --> 00:23:49,040 Speaker 1: of Colds, it was funny. You would avoid, you would 415 00:23:49,080 --> 00:23:50,879 Speaker 1: see the people who get avoided, and they would be 416 00:23:50,920 --> 00:23:53,439 Speaker 1: the ones who have a really low scan rate. And 417 00:23:53,520 --> 00:23:57,679 Speaker 1: every week management would post your scan rate on a board. 418 00:23:57,680 --> 00:23:59,720 Speaker 1: It was like a leaderboard just for how many items 419 00:23:59,720 --> 00:24:03,840 Speaker 1: per minute? Like it. It was great, like it was 420 00:24:03,880 --> 00:24:06,760 Speaker 1: a competition. So you come to me, I'm not there 421 00:24:06,800 --> 00:24:08,600 Speaker 1: to talk to you. I'm there to get your grocery 422 00:24:08,600 --> 00:24:10,200 Speaker 1: steel as fast as I can so that I can 423 00:24:10,200 --> 00:24:11,280 Speaker 1: get my name up on the board. 424 00:24:11,600 --> 00:24:13,320 Speaker 2: Can we move on? I think we've digressed. 425 00:24:13,560 --> 00:24:17,160 Speaker 1: Oh it was great fun. Oh you wouldn't even indulge 426 00:24:17,200 --> 00:24:20,960 Speaker 1: my little roll down memory lane. Okay, Two to one 427 00:24:21,440 --> 00:24:22,320 Speaker 1: favorite story? 428 00:24:23,119 --> 00:24:27,720 Speaker 2: Yep. How about Donald Trump's State of the Union address? 429 00:24:28,680 --> 00:24:28,880 Speaker 1: Yeah? 430 00:24:28,920 --> 00:24:32,600 Speaker 2: Good, one an hour and forty seven minutes longest ever. 431 00:24:33,440 --> 00:24:36,720 Speaker 2: He had hecklers, you had injections. How could you beat it? 432 00:24:37,680 --> 00:24:41,359 Speaker 2: I reckon I could have a crack. We talked about 433 00:24:41,359 --> 00:24:46,320 Speaker 2: illegal aliens, We've talked about Supreme Court judges. I've got 434 00:24:46,359 --> 00:24:48,119 Speaker 2: to read you my favorite quote and I read it 435 00:24:48,160 --> 00:24:52,440 Speaker 2: during the work and it is actually spoiled. That's true. 436 00:24:52,680 --> 00:24:57,400 Speaker 2: Katie Couric, who is was a great anchor in the 437 00:24:57,480 --> 00:25:00,359 Speaker 2: early naughties, I think, yeah, it was her time and 438 00:25:00,600 --> 00:25:04,679 Speaker 2: really truly famous. She actually sent this one out and 439 00:25:04,720 --> 00:25:09,560 Speaker 2: it is so true from Donald Trump. Our country is 440 00:25:09,640 --> 00:25:12,960 Speaker 2: winning again. In fact, we're winning so much that we 441 00:25:13,040 --> 00:25:15,359 Speaker 2: really don't know what to do about it. People are 442 00:25:15,359 --> 00:25:19,359 Speaker 2: asking me, please, please, please, mister president. We're winning too much. 443 00:25:19,720 --> 00:25:26,679 Speaker 2: We can't take it anymore. Does this man not have 444 00:25:26,880 --> 00:25:35,800 Speaker 2: limits any self at all? It's just it's a golden 445 00:25:35,840 --> 00:25:38,000 Speaker 2: age of the economy. And Joe Biden's an idiot. And 446 00:25:39,560 --> 00:25:41,879 Speaker 2: I get that you want to tell yourself that. I 447 00:25:41,960 --> 00:25:44,119 Speaker 2: don't get that you can actually say that publicly, and 448 00:25:44,560 --> 00:25:48,000 Speaker 2: I think it's okay, Oh my god. I mean, look, 449 00:25:48,000 --> 00:25:51,720 Speaker 2: it was fantastic. The men's Olympic men's hockey team came 450 00:25:51,760 --> 00:25:56,720 Speaker 2: into this Rasmetaz and we had lots of veterans there 451 00:25:56,800 --> 00:25:58,720 Speaker 2: and you know what, amazing And this isn't just a 452 00:25:58,760 --> 00:26:02,119 Speaker 2: Donald Trump thing. Actually have the parents of someone whose 453 00:26:02,200 --> 00:26:05,320 Speaker 2: child was tragically killed and they highlight that story. In 454 00:26:05,600 --> 00:26:08,360 Speaker 2: this instance, Donald Trump was highlighting it about illegal aliens 455 00:26:08,720 --> 00:26:12,040 Speaker 2: hurting some poor child and you know, the child or 456 00:26:12,040 --> 00:26:14,760 Speaker 2: the parents of the child were there and everyone's clapping 457 00:26:14,760 --> 00:26:16,640 Speaker 2: and cheering them. And that's not just a Donald Trump 458 00:26:16,680 --> 00:26:20,840 Speaker 2: thing like that always happened. It's it's just weird. Like 459 00:26:20,880 --> 00:26:23,159 Speaker 2: it's actually just weird, I think the best way to 460 00:26:23,160 --> 00:26:23,639 Speaker 2: describe it. 461 00:26:24,119 --> 00:26:28,359 Speaker 1: Yeah, Yeah, it's a it's a very odd ritual and 462 00:26:28,400 --> 00:26:30,200 Speaker 1: that is kind of what it's what it has become. 463 00:26:30,240 --> 00:26:32,400 Speaker 1: And you're right, this isn't just a Donald Trump thing, 464 00:26:32,680 --> 00:26:35,399 Speaker 1: like the State of the Union address is always a 465 00:26:36,840 --> 00:26:42,240 Speaker 1: very strange exercise in essentially propaganda, right it is, which 466 00:26:42,280 --> 00:26:44,959 Speaker 1: is which is basically what it has become over a 467 00:26:45,000 --> 00:26:48,120 Speaker 1: long period of time. It is being allowed to kind 468 00:26:48,119 --> 00:26:53,120 Speaker 1: of trumpet your own accomplishments without any rebuttal apart from 469 00:26:53,119 --> 00:26:57,120 Speaker 1: those who actually do vocally reject it in the crowd. 470 00:26:57,400 --> 00:27:01,359 Speaker 1: So a few of those could I suggest a My 471 00:27:01,480 --> 00:27:04,960 Speaker 1: favorite story is a slight spinoff of the Trump story. 472 00:27:05,000 --> 00:27:06,639 Speaker 1: It's still got Trump's name in it, but it's a 473 00:27:06,680 --> 00:27:09,120 Speaker 1: lot closer to home, and it's one that actually affects 474 00:27:09,200 --> 00:27:14,560 Speaker 1: us here in Australia, Adam. It is Australia getting its 475 00:27:14,800 --> 00:27:21,080 Speaker 1: very own Trump Tower, at last, at last, Right, and 476 00:27:21,240 --> 00:27:23,720 Speaker 1: of course if you had to nominate where it was 477 00:27:23,760 --> 00:27:26,159 Speaker 1: going to go, there is only one option. It is 478 00:27:26,240 --> 00:27:29,960 Speaker 1: the Gold Coast and the Queensland developer Altus Property Group 479 00:27:30,280 --> 00:27:33,119 Speaker 1: has done this deal. They've signed this deal with Trump Organization, 480 00:27:33,280 --> 00:27:37,159 Speaker 1: with one of Donald Trump's sons, Eric and it is 481 00:27:37,200 --> 00:27:40,840 Speaker 1: a ninety one story hotel and residential tower. It is 482 00:27:40,880 --> 00:27:43,679 Speaker 1: going to have two hundred and eighty five luxury hotel rooms, 483 00:27:44,200 --> 00:27:48,040 Speaker 1: two hundred and seventy two residential apartments. It is going 484 00:27:48,080 --> 00:27:53,560 Speaker 1: to cost one point five billion dollars this whole project. 485 00:27:53,800 --> 00:27:57,640 Speaker 1: It is going to be the tallest tower in Australia. 486 00:27:57,880 --> 00:27:59,800 Speaker 1: This thing, it's going to be quite the economic and 487 00:28:00,000 --> 00:28:02,400 Speaker 1: action into the Gold Coast economy. I will say that. 488 00:28:02,480 --> 00:28:04,280 Speaker 1: So make sure you write that one down, Adam, if 489 00:28:04,320 --> 00:28:07,800 Speaker 1: you still care about judging criteria. But you know what 490 00:28:07,840 --> 00:28:08,560 Speaker 1: it also does. 491 00:28:08,600 --> 00:28:10,960 Speaker 2: We don't know what the criteria were because it wasn't 492 00:28:11,200 --> 00:28:13,639 Speaker 2: tell us to begin with this. 493 00:28:12,920 --> 00:28:17,399 Speaker 1: It is a true mystery this week. But you know 494 00:28:17,480 --> 00:28:21,640 Speaker 1: what this this does as well. It brings a bit 495 00:28:21,800 --> 00:28:25,600 Speaker 1: of you talked about razmataz Sean. It brings a little 496 00:28:25,600 --> 00:28:27,760 Speaker 1: bit of that back to the Gold Coast because the 497 00:28:27,760 --> 00:28:31,520 Speaker 1: Palazzo Versaci remember that hotel that was on the on 498 00:28:31,600 --> 00:28:33,919 Speaker 1: the Gold Coast and it had lots of kind of 499 00:28:33,920 --> 00:28:37,520 Speaker 1: the really ornate kind of marble tiles and the guilt 500 00:28:37,680 --> 00:28:41,280 Speaker 1: edged kind of frame, like a very very flashy and 501 00:28:41,480 --> 00:28:47,640 Speaker 1: it changed hands about a few years ago and they 502 00:28:47,720 --> 00:28:50,240 Speaker 1: lost the license to use the Vasacei name and someone 503 00:28:50,240 --> 00:28:53,160 Speaker 1: else picked it up and they toned everything down right. 504 00:28:53,240 --> 00:28:53,800 Speaker 1: They made it. 505 00:28:54,560 --> 00:28:58,400 Speaker 2: Is still beautiful. It's a beautiful building, yeah, oh man, 506 00:28:58,520 --> 00:28:59,600 Speaker 2: ye spectacular. 507 00:28:59,800 --> 00:29:03,720 Speaker 1: But in terms of kind of the gaudiness, the yeah, 508 00:29:03,800 --> 00:29:06,760 Speaker 1: the jazz hands, good word, yeah, the gaudiness of it, 509 00:29:08,480 --> 00:29:14,400 Speaker 1: there isn't something there. This tower fills that gap. And 510 00:29:14,640 --> 00:29:18,920 Speaker 1: I think the hero of this story is the developer 511 00:29:19,160 --> 00:29:23,280 Speaker 1: that has been working towards this for twenty years. Can 512 00:29:23,320 --> 00:29:26,240 Speaker 1: you believe he's been trying to get a Trump tower, 513 00:29:26,640 --> 00:29:29,640 Speaker 1: a Trump development here in Australia for twenty years. Finally 514 00:29:29,680 --> 00:29:32,920 Speaker 1: the dealers signed big injection into the Gold Coast economy. 515 00:29:33,320 --> 00:29:35,880 Speaker 1: Well played and I can't wait to see it. 516 00:29:36,800 --> 00:29:41,400 Speaker 3: Who Adam the Gold Coast gets a little more gold 517 00:29:41,440 --> 00:29:42,800 Speaker 3: and glitter that is. 518 00:29:45,040 --> 00:29:45,880 Speaker 2: Oh god. 519 00:29:45,960 --> 00:29:49,360 Speaker 3: I think it has to win because it's one point 520 00:29:49,440 --> 00:29:52,760 Speaker 3: five billion dollars worth of development here in Australia. And 521 00:29:52,800 --> 00:29:55,800 Speaker 3: that's a good thing, you know. I know this is 522 00:29:55,920 --> 00:29:58,640 Speaker 3: very subjective, but I was offended by so much of 523 00:29:58,680 --> 00:30:02,320 Speaker 3: what Trump said. It is start of the Union address. 524 00:30:02,800 --> 00:30:04,880 Speaker 3: This is just plain outrage. 525 00:30:05,600 --> 00:30:08,840 Speaker 2: I honestly think there's no way I should have won 526 00:30:08,880 --> 00:30:11,160 Speaker 2: the previous category, and I did. There is no way 527 00:30:11,160 --> 00:30:14,320 Speaker 2: I should have lost that category and I did. 528 00:30:13,760 --> 00:30:18,800 Speaker 3: It's in my mind it was a dead sert. But 529 00:30:18,840 --> 00:30:21,080 Speaker 3: I when I heard about the Trump Tower, as you 530 00:30:21,200 --> 00:30:26,160 Speaker 3: reported it this week, I didn't mind it. I thought 531 00:30:26,160 --> 00:30:29,040 Speaker 3: it's I'm not a fan of Trump, but I think 532 00:30:29,040 --> 00:30:31,680 Speaker 3: it's quite funny. And Trump can have a tower on 533 00:30:31,720 --> 00:30:34,080 Speaker 3: the Gold Coast one point five billion dollars worth and 534 00:30:34,120 --> 00:30:35,840 Speaker 3: a great new building. 535 00:30:36,320 --> 00:30:39,520 Speaker 2: Awesome. Go ahead, three to one, you win. 536 00:30:40,440 --> 00:30:45,000 Speaker 1: And now I just say that this victory was not 537 00:30:45,080 --> 00:30:48,320 Speaker 1: for me. This victory wasn't even for all of the people. 538 00:30:49,000 --> 00:30:53,760 Speaker 1: This victory is for one listener, and and that listener 539 00:30:53,920 --> 00:30:57,360 Speaker 1: is Craig. Listener. Craig, who got in touch with us 540 00:30:57,360 --> 00:30:59,760 Speaker 1: through the week, responded to the Fear and Gred newsletter 541 00:31:00,240 --> 00:31:03,320 Speaker 1: and told us, and he works at a big organization. 542 00:31:03,360 --> 00:31:06,560 Speaker 1: I won't identify the bank that he works for. That 543 00:31:06,720 --> 00:31:10,040 Speaker 1: he said that he cheers for me every Saturday. Even 544 00:31:10,080 --> 00:31:12,160 Speaker 1: though he is Sean's vintage, which I love. 545 00:31:12,200 --> 00:31:15,160 Speaker 2: It is just a double leg right, just I can't 546 00:31:15,160 --> 00:31:17,960 Speaker 2: believe you're forty eight, Craig. I can't believe you're forty. 547 00:31:19,200 --> 00:31:21,520 Speaker 1: And so I said, if I win, it's for you, Craig, 548 00:31:21,600 --> 00:31:23,800 Speaker 1: And I said, I if I lose, I will criticize 549 00:31:23,880 --> 00:31:26,200 Speaker 1: Adam's judging on your behalf. I don't need to do that. 550 00:31:26,320 --> 00:31:29,280 Speaker 1: It is just a solid victory for Craig and for 551 00:31:29,360 --> 00:31:31,800 Speaker 1: all the listeners who backed me every week to win, 552 00:31:31,880 --> 00:31:34,840 Speaker 1: for the people that felt like I was delivering at 553 00:31:34,880 --> 00:31:37,680 Speaker 1: State of the Union address, wasn't it at a certain flare? 554 00:31:37,800 --> 00:31:38,880 Speaker 1: Thank you very much, Adam. 555 00:31:39,120 --> 00:31:41,840 Speaker 2: You can't fully think Adam. Why not? You can because 556 00:31:41,920 --> 00:31:44,920 Speaker 2: it didn't turn up two thirds think Adam half. 557 00:31:44,960 --> 00:31:52,840 Speaker 1: Okay, thanks for your thanks for your partial contribution, adamit 558 00:31:52,880 --> 00:31:55,080 Speaker 1: a pleasure, and thanks for being here from the start. 559 00:31:55,120 --> 00:31:56,600 Speaker 2: Sean, thank you very much. 560 00:31:58,080 --> 00:32:00,120 Speaker 1: Make sure you're following the podcast and head along the 561 00:32:00,160 --> 00:32:01,960 Speaker 1: Fear and Greed dot com dot A you to sign 562 00:32:02,000 --> 00:32:04,240 Speaker 1: up for our free daily newsletter, O Michael Thompson. And 563 00:32:04,280 --> 00:32:06,320 Speaker 1: that was Fear and Greed. Have a great weekend. 564 00:32:08,680 --> 00:32:08,720 Speaker 3: H