1 00:00:00,040 --> 00:00:03,559 Speaker 1: Automotive components and Allied manufacturers. Twenty seven minutes after six, 2 00:00:04,200 --> 00:00:08,920 Speaker 1: The Money Show, The Market, Graham Corners at the Corner perspective, Graham, 3 00:00:08,920 --> 00:00:11,319 Speaker 1: good evening. I mean, really only one story in town. 4 00:00:12,160 --> 00:00:14,760 Speaker 1: The speech last night by the US President Donald Trump, 5 00:00:14,840 --> 00:00:18,360 Speaker 1: lots of expectation that maybe he would announce a pause 6 00:00:18,400 --> 00:00:20,640 Speaker 1: in the bombing of Iran, oil prices will go back 7 00:00:20,640 --> 00:00:22,720 Speaker 1: to normal, and he went, well, I don't really know 8 00:00:22,840 --> 00:00:25,480 Speaker 1: what he did. He went into the complete opposite. 9 00:00:26,840 --> 00:00:29,480 Speaker 2: He asked evehen it sort of feels like he's he's 10 00:00:29,520 --> 00:00:32,000 Speaker 2: playing art of the deal as he's doing a property 11 00:00:32,040 --> 00:00:36,040 Speaker 2: development in New York. But you know, in global diplomacy circles, 12 00:00:36,120 --> 00:00:38,279 Speaker 2: and particularly when you're trying to look for an off 13 00:00:38,400 --> 00:00:42,680 Speaker 2: ramp out of a really messy war, it just doesn't 14 00:00:42,720 --> 00:00:45,800 Speaker 2: feel like like we're going about the wrong the right way. 15 00:00:45,840 --> 00:00:48,440 Speaker 2: I think, you know, we go from sugar highs to 16 00:00:48,720 --> 00:00:51,720 Speaker 2: glycemi crashes and back to sugar highs in the space 17 00:00:51,720 --> 00:00:54,160 Speaker 2: of the day. It's I think it's really starting to 18 00:00:54,160 --> 00:00:56,760 Speaker 2: weigh on markets, all this volatility because we're trying to 19 00:00:57,080 --> 00:00:59,760 Speaker 2: sort of figure out what the next few weeks or 20 00:00:59,760 --> 00:01:03,400 Speaker 2: months sold. But yeah, we're literally going from one truth 21 00:01:03,480 --> 00:01:04,720 Speaker 2: social post to the next. 22 00:01:05,240 --> 00:01:08,240 Speaker 1: I mean, for I think a lot of people watching 23 00:01:08,280 --> 00:01:11,520 Speaker 1: all of this the senses that there's nothing they can do. 24 00:01:11,600 --> 00:01:13,679 Speaker 1: It creates a huge amount of anst I mean, how 25 00:01:13,720 --> 00:01:16,360 Speaker 1: shouldn't investor really be looking at this? Should you be 26 00:01:16,400 --> 00:01:17,280 Speaker 1: trying to look past it? 27 00:01:18,920 --> 00:01:21,880 Speaker 2: Well? Yeah, I mean I'm a lunatic, so I sort 28 00:01:21,880 --> 00:01:24,679 Speaker 2: of see weakness like we've seen in the South African 29 00:01:24,720 --> 00:01:28,560 Speaker 2: financials or for example, in some of the texts. Offshore 30 00:01:28,680 --> 00:01:32,760 Speaker 2: is a great opportunity to buy really good companies at 31 00:01:32,840 --> 00:01:35,720 Speaker 2: good prices. If you take South Africa for example, you 32 00:01:35,760 --> 00:01:38,360 Speaker 2: know we've gone from baking in fifty bases points of 33 00:01:38,440 --> 00:01:41,120 Speaker 2: cuts now assuming we're going to get hikes. We haven't 34 00:01:41,160 --> 00:01:44,560 Speaker 2: even really had a data point yet. So yeah, I 35 00:01:44,600 --> 00:01:46,600 Speaker 2: think the market's a little ahead of itself. And if 36 00:01:46,600 --> 00:01:51,160 Speaker 2: you look in America, for example, some great companies and 37 00:01:51,200 --> 00:01:55,279 Speaker 2: I'm talking texts for example, delivering solid mid teens plus 38 00:01:55,320 --> 00:01:58,800 Speaker 2: earnings growth, sitting on very attractive multiples, in fact, trading 39 00:01:58,800 --> 00:02:01,920 Speaker 2: on big discounts to what utilities and staples are sitting on. 40 00:02:02,080 --> 00:02:05,000 Speaker 2: So yeah, we think this is a really good time, 41 00:02:05,040 --> 00:02:07,320 Speaker 2: but it feels awkward because you know, everybody else is 42 00:02:07,400 --> 00:02:09,359 Speaker 2: running for the exit and use sort of coming into 43 00:02:09,400 --> 00:02:12,600 Speaker 2: the building. So it is awkward. But over time we 44 00:02:12,720 --> 00:02:17,920 Speaker 2: found that these geopolitical crises come and go and generally 45 00:02:17,919 --> 00:02:21,720 Speaker 2: you get rewarded for being brave and buying good companies 46 00:02:21,760 --> 00:02:22,680 Speaker 2: as good valuations. 47 00:02:22,880 --> 00:02:25,960 Speaker 1: I mean, there's an art to buying the depth. The 48 00:02:26,000 --> 00:02:30,320 Speaker 1: depths have been quite deep this time around. That should 49 00:02:30,360 --> 00:02:34,880 Speaker 1: mean the returns could be quite steep as well. Yeah. 50 00:02:35,000 --> 00:02:36,919 Speaker 2: Look, I always joke and say, it's not like I've 51 00:02:36,919 --> 00:02:39,079 Speaker 2: got a golden telephone on the desk and somebody who 52 00:02:39,080 --> 00:02:41,760 Speaker 2: phones you and says, right, the market's turned. You actually 53 00:02:41,840 --> 00:02:45,120 Speaker 2: have to buy on the way down and have a 54 00:02:45,120 --> 00:02:48,680 Speaker 2: little bit of nerve. Yeah, but I would agree with that. 55 00:02:48,760 --> 00:02:51,840 Speaker 2: I mean, you know, if you look at even before 56 00:02:51,919 --> 00:02:56,400 Speaker 2: this meltdown courtesy of the Iran War, you had seen AI, 57 00:02:56,520 --> 00:03:00,400 Speaker 2: for example, have a massive impact on technology company, software companies, 58 00:03:00,440 --> 00:03:03,560 Speaker 2: platform companies, and there are a lot of really good 59 00:03:03,600 --> 00:03:07,560 Speaker 2: companies that have been marked down massively. And the reality is, 60 00:03:07,600 --> 00:03:10,480 Speaker 2: I don't think AI or in Iran War is actually 61 00:03:10,520 --> 00:03:13,080 Speaker 2: going to significantly disrupt their business models. You know, you're 62 00:03:13,080 --> 00:03:16,920 Speaker 2: thinking about your companies like Netflix and Booking dot com, 63 00:03:17,120 --> 00:03:20,480 Speaker 2: and even if you look at the likes of Alphabet Slash, 64 00:03:20,480 --> 00:03:24,600 Speaker 2: Google and Microsoft. So yeah, I think. I think as 65 00:03:24,600 --> 00:03:26,200 Speaker 2: long as you know what you're buying and you've got 66 00:03:26,200 --> 00:03:29,400 Speaker 2: a long term view, this really could be a good opportunity. 67 00:03:29,440 --> 00:03:32,160 Speaker 2: And I agree with you. I think of these markdown 68 00:03:32,240 --> 00:03:35,760 Speaker 2: levels you could actually see quite quite an improvement in 69 00:03:36,040 --> 00:03:39,320 Speaker 2: the performance that you might have expected maybe six months ago, 70 00:03:39,400 --> 00:03:40,240 Speaker 2: even three months ago. 71 00:03:40,600 --> 00:03:43,400 Speaker 1: Graham Corner, thanks so much from the Corner perspective. Really 72 00:03:43,440 --> 00:03:43,960 Speaker 1: appreciated it.