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Speaker 1: Heller duple see la Shane solely harbor asset management is

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Speaker 1: with Behy Shane. Hello, Hey, what happened to the US

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Speaker 1: markets on Friday night?

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Speaker 2: Yeah, it's a bit of a week night on Friday,

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Speaker 2: US market down, shar market down one point six percent,

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Speaker 2: a bit of a combo head week, jobs week, lead

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Speaker 2: indicators on the economy, higher tariffs, lower than expecting doings,

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Speaker 2: geopolitical teach, you name it, it all got thrown in

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Speaker 2: really pushed the market around. The big one was the

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Speaker 2: drop in US jobs that became a seventy three thousand

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Speaker 2: There was below expectations, but what really hit the market

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Speaker 2: was the numbers were really revised down from May and June.

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Speaker 2: And what it means is, instead of growing at the

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Speaker 2: extent that some politicians in the US might like you

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Speaker 2: to believe, the last three months only in thirty five

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Speaker 2: thousand jobs added. That's pretty weak. So they'd certainly pushed

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Speaker 2: the chances of a cut in official rates from the

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Speaker 2: US Federal Reserve. So the market saw bond yours go down,

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Speaker 2: which is good for the cost of borrowing, but unfortunately

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Speaker 2: she market went down with it.

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Speaker 1: And Donald Trump has some strong views about the labor

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Speaker 1: data and the US FED Reserve.

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Speaker 2: He sure that he actually called the data fake, and

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Speaker 2: he's directed at the Commissioner of the Bureau of Labor

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Speaker 2: Statistics to be fired. This poor lady's been Trump he

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Speaker 2: didn't continued to lay into FED Reserve chair Jerome Powell,

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Speaker 2: continue to call on my moron. He did get one

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Speaker 2: step closer to getting a bit more control over the FED.

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Speaker 2: A lady called Adrianna Klugler, who's a governor, and the

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Speaker 2: said Reserve she resigned. That means the White House can

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Speaker 2: actually point somebody else to go win and that is

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Speaker 2: probably going to be the next FED cheer.

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Speaker 1: How did the local market respond to that volatility in

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Speaker 1: the US?

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Speaker 2: Yeah, pretty pretty quiet, to be honest. We hit the

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Speaker 2: tenure goavernment bynes fell five basis points to four point

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Speaker 2: four eight percent, which is helpful. She marker only down

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Speaker 2: about ero point three five percent. Our market's pretty defensive.

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Speaker 2: We're not as sensitive to some of the US market stuff.

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Speaker 1: What did you make of Brisco's profit update.

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Speaker 2: Yeah, Look, Brisco's Great Retailer came up with a slightly

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Speaker 2: lower number than they indicated earlier, in near twenty nine

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Speaker 2: million for the half. This half there's a thirty three

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Speaker 2: earlier on Look what they said importantly here there was Yeah,

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Speaker 2: this half was below expectations, but the second quarter is better.

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Speaker 2: And what they're actually pointing to is next the second

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Speaker 2: the next half they're expecting a bit of a pickup.

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Speaker 2: So kind of a mixed message, but getting better rather

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Speaker 2: than worse. As I say, these guys are the top

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Speaker 2: in their game. Share price flat on the day at

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Speaker 2: six o one.

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Speaker 1: Yeah, hey, good stuff. And what about tourism holdings and

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Speaker 1: what's the grounds for rejecting this takeover offer?

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Speaker 2: Yeah, yeah, really important one here, so THHL that this

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Speaker 2: is the recreational vehicle, the rental band operator. They were

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Speaker 2: offered a bid by Begh two dollars thirty the boards communs.

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Speaker 2: So that's opportunistic. You're picking the bottom of the market,

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Speaker 2: and we think, based on our analysis, the stock is

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Speaker 2: worth more than three dollars. Importantly, they've come out with

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Speaker 2: a strategy to actually lift the returns, a gross roadmap

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Speaker 2: as they're calling it, targeting one hundred milli of profit,

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Speaker 2: and they've laid out some pretty meaningful changes the business.

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Speaker 2: So yeah, they opened the board that you're opened to

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Speaker 2: negotiating with Bigh or any other potential biddess, so the

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Speaker 2: SHEP price is pretty flat, up half a percent.

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Speaker 1: To six Shane. Good to talk to you, Thanks mate, Shane,

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Speaker 1: Solly Harbor Asset Management.

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