1
00:00:00,600 --> 00:00:01,080
Speaker 1: Hello.

2
00:00:01,480 --> 00:00:04,840
Speaker 2: My name is Satasha Nabananga Bamblet. I'm a proud or

3
00:00:04,880 --> 00:00:08,600
Speaker 2: the Order Kerni Whaltbury and a waddery woman. And before

4
00:00:08,600 --> 00:00:11,080
Speaker 2: we get started on She's on the Money podcast, I

5
00:00:11,119 --> 00:00:14,240
Speaker 2: would like to acknowledge the traditional custodians of the land

6
00:00:14,360 --> 00:00:18,040
Speaker 2: of which this podcast is recorded on a wondery country,

7
00:00:18,079 --> 00:00:22,200
Speaker 2: acknowledging the elders, the ancestors and the next generation coming

8
00:00:22,239 --> 00:00:26,880
Speaker 2: through as this podcast is about connecting, empowering, knowledge sharing

9
00:00:27,000 --> 00:00:30,040
Speaker 2: and the storytelling of you to make a difference for

10
00:00:30,160 --> 00:00:33,040
Speaker 2: today and lasting impact for tomorrow.

11
00:00:33,240 --> 00:00:36,600
Speaker 1: Let's get into it. She's on the Money, She's on

12
00:00:36,640 --> 00:00:38,280
Speaker 1: the Money.

13
00:00:57,120 --> 00:00:59,520
Speaker 3: Hello, and welcome to She's on the Money, the podcast

14
00:00:59,560 --> 00:01:02,200
Speaker 3: that keeps your investments growing and your stress levels low

15
00:01:02,520 --> 00:01:05,679
Speaker 3: even when your portfolio is more red than your ex's flags.

16
00:01:06,280 --> 00:01:07,840
Speaker 1: I'm beck you'r is it in investing?

17
00:01:07,920 --> 00:01:10,360
Speaker 3: Newbie who's got a bunch of questions and a lot

18
00:01:10,400 --> 00:01:12,959
Speaker 3: of feelings about what the market's doing right now? You're

19
00:01:13,080 --> 00:01:15,800
Speaker 3: probably the same, I imagine. So I just sit down with

20
00:01:15,840 --> 00:01:17,600
Speaker 3: the woman who has seen it all before and live

21
00:01:17,680 --> 00:01:22,120
Speaker 3: to tell the tale. Victory Divine retired financial advisor, long

22
00:01:22,200 --> 00:01:25,640
Speaker 3: time investor and someone who doesn't panic when the market dips.

23
00:01:25,760 --> 00:01:27,920
Speaker 1: I'm feel sick when the market dips, though I'm not

24
00:01:27,959 --> 00:01:30,480
Speaker 1: gonna feel sick, a little bit sick. I don't think

25
00:01:30,600 --> 00:01:34,440
Speaker 1: anybody likes seeing that the quote lost some money, right,

26
00:01:34,480 --> 00:01:36,240
Speaker 1: and I know that that's not the case. But like,

27
00:01:36,959 --> 00:01:41,080
Speaker 1: find me someone who logs into their investment platform and goes, oh,

28
00:01:41,280 --> 00:01:44,360
Speaker 1: it's in the red perfect great, Well, actually this like

29
00:01:44,360 --> 00:01:46,080
Speaker 1: what I mean, I do reframe it. I'm like, okay,

30
00:01:46,080 --> 00:01:48,320
Speaker 1: well that is actually an opportunity. Maybe I'll tip some

31
00:01:48,360 --> 00:01:50,640
Speaker 1: more money. Yes, I get it, but even I have

32
00:01:50,720 --> 00:01:52,000
Speaker 1: to check myself.

33
00:01:51,600 --> 00:01:54,120
Speaker 3: And be like ill, And then I'm like, oh, right,

34
00:01:54,200 --> 00:01:57,040
Speaker 3: Like at what point do we stop tipping money into it?

35
00:01:57,200 --> 00:01:58,080
Speaker 1: Because I was doing the same.

36
00:01:58,120 --> 00:02:00,360
Speaker 3: I was like, oh, it's gone down, maybe i'll But

37
00:02:00,360 --> 00:02:01,720
Speaker 3: then I don't know where it's coming from because I've

38
00:02:01,720 --> 00:02:03,080
Speaker 3: got so many things and I don't.

39
00:02:02,880 --> 00:02:05,520
Speaker 1: Know how to read my portfolio. But true, it's true.

40
00:02:05,600 --> 00:02:07,560
Speaker 1: Well we're going to talk about it today, but before

41
00:02:07,640 --> 00:02:09,639
Speaker 1: we get into it, I do want to like, is

42
00:02:09,680 --> 00:02:12,040
Speaker 1: it called time stamping or you tell people the day

43
00:02:12,080 --> 00:02:14,520
Speaker 1: that you're recording this. Oh yeah, so we're going to

44
00:02:14,560 --> 00:02:18,920
Speaker 1: timestamp this episode because we are recording this on the

45
00:02:18,960 --> 00:02:23,560
Speaker 1: eve of what Trump has dramatically dubbed Liberation Day. Wow.

46
00:02:23,639 --> 00:02:26,480
Speaker 1: So he is making in the next twenty four hours

47
00:02:26,639 --> 00:02:31,000
Speaker 1: from when we're recording this a very big announcement where

48
00:02:31,080 --> 00:02:34,680
Speaker 1: he's going to potentially announce a whole heap of like

49
00:02:34,720 --> 00:02:38,079
Speaker 1: a new round of tariff information and so that will

50
00:02:38,120 --> 00:02:41,680
Speaker 1: actually significantly impact the economy. So right now we're talking

51
00:02:41,680 --> 00:02:44,480
Speaker 1: about what has happened, and you know, I'm going to

52
00:02:44,480 --> 00:02:47,200
Speaker 1: talk about Trump's new tariffs when they come in, but

53
00:02:47,320 --> 00:02:49,880
Speaker 1: we don't have that information right now. But I didn't

54
00:02:49,880 --> 00:02:52,480
Speaker 1: want to like hold off on this episode to wait

55
00:02:52,520 --> 00:02:54,760
Speaker 1: for more information. So we'll talk about it and then

56
00:02:54,800 --> 00:02:56,640
Speaker 1: we'll probably talk about it again. But I don't want

57
00:02:56,720 --> 00:02:59,400
Speaker 1: you to think, oh, VS not taking into consideration X,

58
00:02:59,480 --> 00:03:02,000
Speaker 1: Y and Z babies because I don't live in the future.

59
00:03:02,960 --> 00:03:05,919
Speaker 1: I would love that, but it's so fair. Yeah, So

60
00:03:05,960 --> 00:03:09,359
Speaker 1: some of what I'm about to say might actually already

61
00:03:09,440 --> 00:03:13,560
Speaker 1: be playing out. And if so, guys, I am the oracle,

62
00:03:14,120 --> 00:03:16,320
Speaker 1: Like you can refer to me as the oracle. If

63
00:03:16,320 --> 00:03:19,480
Speaker 1: it's not playing out, pretend you never heard this, Like,

64
00:03:19,880 --> 00:03:22,639
Speaker 1: we are not living in the in between. So Trump

65
00:03:22,680 --> 00:03:25,679
Speaker 1: might have actually changed his mind entirely and just called

66
00:03:25,720 --> 00:03:28,240
Speaker 1: the whole thing off because that's actually an option for him,

67
00:03:28,360 --> 00:03:31,000
Speaker 1: and it wouldn't be the first time. It wouldn't shock

68
00:03:31,080 --> 00:03:33,760
Speaker 1: me because remember when he was like, oh, TikTok ban whatever,

69
00:03:33,880 --> 00:03:39,080
Speaker 1: We'll just not do that anymore. Yeah, just his rogue. Honestly,

70
00:03:39,880 --> 00:03:44,000
Speaker 1: there's something about American politics that just cheeks me hooked.

71
00:03:44,760 --> 00:03:48,760
Speaker 1: It's like watching reality TV. For me is like I'm obsessed,

72
00:03:48,880 --> 00:03:51,880
Speaker 1: it is. But I think it's really important that at

73
00:03:51,920 --> 00:03:55,160
Speaker 1: the time of recording, there has been over the last

74
00:03:55,160 --> 00:04:00,160
Speaker 1: few weeks a lot of global uncertainty swirling around and

75
00:04:00,600 --> 00:04:03,720
Speaker 1: it's hitting investor confidence, like I'm seeing it in our

76
00:04:03,720 --> 00:04:05,840
Speaker 1: community a lot a lot of people are asking, what's

77
00:04:05,880 --> 00:04:09,119
Speaker 1: going on? Why are the market's down, Victoria, how does

78
00:04:09,160 --> 00:04:13,680
Speaker 1: this work? So Wall Street, which is the American ASX,

79
00:04:13,960 --> 00:04:16,320
Speaker 1: has been sliding for weeks, and the ripple effect has

80
00:04:16,360 --> 00:04:20,560
Speaker 1: definitely already made its way to Australia, and so we

81
00:04:20,600 --> 00:04:24,120
Speaker 1: are starting to see that the changes in Australia are

82
00:04:24,120 --> 00:04:27,200
Speaker 1: not nearly as dramatic as America, but that is usually

83
00:04:27,279 --> 00:04:30,359
Speaker 1: what happens. So something big will happen in the US,

84
00:04:30,600 --> 00:04:34,440
Speaker 1: their share market plummets, ours will dip, so like we

85
00:04:34,520 --> 00:04:39,040
Speaker 1: are often replicating the American markets, but in a softer way,

86
00:04:39,240 --> 00:04:42,360
Speaker 1: I would say, And that usually happens because the Australian

87
00:04:42,360 --> 00:04:45,440
Speaker 1: economy is held up in a different way than the American.

88
00:04:45,880 --> 00:04:48,400
Speaker 1: But when it comes to confidence, Beck, if you see

89
00:04:48,440 --> 00:04:51,760
Speaker 1: your American friend going through something, you're probably going to

90
00:04:51,800 --> 00:04:53,840
Speaker 1: get a bit worried too, right, or I've always been

91
00:04:53,839 --> 00:04:56,760
Speaker 1: confused by this because I know people do say that,

92
00:04:56,800 --> 00:04:59,240
Speaker 1: like it's like the American I didn't really understand it.

93
00:04:59,240 --> 00:05:01,479
Speaker 1: So forgive me if I'm but the American dollars week

94
00:05:01,560 --> 00:05:05,000
Speaker 1: so the Australian dollar, Like I've just never understood the

95
00:05:05,000 --> 00:05:09,279
Speaker 1: link there because there's trade agreements between the countries I see.

96
00:05:09,400 --> 00:05:14,120
Speaker 1: And ultimately, when we're talking about investor sentiment, we are

97
00:05:14,200 --> 00:05:18,080
Speaker 1: talking about how confident someone is in something. Right, So

98
00:05:18,240 --> 00:05:21,560
Speaker 1: if you're seeing your friends and right now, we are

99
00:05:21,560 --> 00:05:24,920
Speaker 1: seeing a lot of what is happening in America translating

100
00:05:24,920 --> 00:05:27,719
Speaker 1: to Australia much quicker than it has historically because of

101
00:05:27,760 --> 00:05:31,960
Speaker 1: social media, because you're able to learn much quicker what's

102
00:05:32,000 --> 00:05:34,559
Speaker 1: going on in the US and get really worried about

103
00:05:34,560 --> 00:05:38,160
Speaker 1: it like historically, Beck, I'm just going to make a

104
00:05:38,200 --> 00:05:41,800
Speaker 1: broad brush stereotypical statement. I'm pretty sure you're not sitting

105
00:05:41,839 --> 00:05:45,719
Speaker 1: down every morning with the newspaper reading through all of

106
00:05:45,760 --> 00:05:49,480
Speaker 1: the information about the economy. That's correct. No, so you're

107
00:05:49,520 --> 00:05:51,800
Speaker 1: not doing that, But historically that's how you would have

108
00:05:51,920 --> 00:05:56,560
Speaker 1: gained your information on what's going on economically. Now you

109
00:05:56,680 --> 00:05:59,040
Speaker 1: jump on TikTok and people are like, what the hell

110
00:05:59,400 --> 00:06:01,560
Speaker 1: Trump's tear marfs are crazy, and you're like, oh, wow,

111
00:06:01,600 --> 00:06:04,240
Speaker 1: that is crazy. I wonder how that impacts me, and

112
00:06:04,320 --> 00:06:08,039
Speaker 1: your confidence is going to be knocked. So Australia is

113
00:06:08,120 --> 00:06:11,080
Speaker 1: responding a lot quicker to what's going on in the

114
00:06:11,200 --> 00:06:14,240
Speaker 1: US because our confidence gets knocked whenever we think that

115
00:06:14,279 --> 00:06:17,440
Speaker 1: there's something negative going on with money. Sure, so it's

116
00:06:17,560 --> 00:06:22,000
Speaker 1: not to say that that means that we are significantly impacted.

117
00:06:22,880 --> 00:06:25,120
Speaker 1: I don't know what these tariffs are going to mean

118
00:06:25,200 --> 00:06:28,120
Speaker 1: for US, but it does mean that, you know, I

119
00:06:28,120 --> 00:06:29,680
Speaker 1: get a bit worried when I see what's going on

120
00:06:29,720 --> 00:06:32,640
Speaker 1: in the US. I go, oh, well, what does that

121
00:06:32,720 --> 00:06:35,600
Speaker 1: mean for me? What does that mean for my investment portfolio?

122
00:06:35,720 --> 00:06:40,160
Speaker 1: I own international shares, my international company is okay, and

123
00:06:40,200 --> 00:06:42,360
Speaker 1: you know when that happens, I go, oh, maybe I'll

124
00:06:42,440 --> 00:06:44,800
Speaker 1: just hold off and investing for a little while, and

125
00:06:44,839 --> 00:06:48,440
Speaker 1: if lots of people do that, the market goes down. Yes,

126
00:06:49,240 --> 00:06:51,400
Speaker 1: So that's kind of like I'm not saying that that's

127
00:06:51,440 --> 00:06:53,279
Speaker 1: the only way they're linked, but in the way that

128
00:06:53,360 --> 00:06:57,280
Speaker 1: you're talking, that is how they're linked. Okay, But ultimately,

129
00:06:57,360 --> 00:07:02,800
Speaker 1: investors are worried that Trump is going to spark a

130
00:07:02,839 --> 00:07:07,240
Speaker 1: trade war, which is terrifying, and that typically means slower

131
00:07:07,279 --> 00:07:09,960
Speaker 1: global growth. It means that there are going to be

132
00:07:10,400 --> 00:07:14,880
Speaker 1: higher costs and more pressure on company earnings. And when

133
00:07:14,880 --> 00:07:17,000
Speaker 1: the US is a little bit wobbly on its feet,

134
00:07:17,360 --> 00:07:23,400
Speaker 1: especially inspectors lack tech and manufacturing and commodities. Australia tends

135
00:07:23,400 --> 00:07:25,480
Speaker 1: to feel that too because we trade with them on

136
00:07:25,600 --> 00:07:29,440
Speaker 1: those things and also Beck to put into the middle

137
00:07:29,440 --> 00:07:34,559
Speaker 1: of this. Yesterday, the RBA has decided to hold interest rates,

138
00:07:34,560 --> 00:07:37,000
Speaker 1: which I wasn't surprised about. A lot of people were

139
00:07:37,000 --> 00:07:39,120
Speaker 1: asking MeV do you think that they are going to

140
00:07:39,160 --> 00:07:41,320
Speaker 1: drop interest rates again or do you think that they

141
00:07:41,320 --> 00:07:43,840
Speaker 1: are going to increase them. No, I just thought that

142
00:07:43,880 --> 00:07:45,600
Speaker 1: they were going to hold because we just want to

143
00:07:45,600 --> 00:07:47,520
Speaker 1: see what's going on with the economy for a little

144
00:07:47,560 --> 00:07:51,600
Speaker 1: bit longer. The RBA are being quite cautious, and they've

145
00:07:51,680 --> 00:07:54,720
Speaker 1: only just started cutting rates, right, they can't just set

146
00:07:54,720 --> 00:07:58,600
Speaker 1: the expectation that they'll do this every month because the

147
00:07:58,640 --> 00:08:01,240
Speaker 1: economy might get too confident that we need to just

148
00:08:01,720 --> 00:08:04,240
Speaker 1: slow and steady wins the race, and they don't want

149
00:08:04,280 --> 00:08:06,880
Speaker 1: to jump the gun with another move until there's a

150
00:08:06,920 --> 00:08:09,840
Speaker 1: little bit more clarity on what this means for inflation

151
00:08:10,240 --> 00:08:14,680
Speaker 1: and spending and the Australian's economy in a broader sense.

152
00:08:14,800 --> 00:08:17,600
Speaker 1: So right now, I would say, and I feel like

153
00:08:17,680 --> 00:08:21,000
Speaker 1: I'm just waffling. I hope it's interesting, but right now

154
00:08:21,360 --> 00:08:23,520
Speaker 1: I would say the market is a little bit on edge.

155
00:08:23,560 --> 00:08:26,440
Speaker 1: We're not panicked, but we're definitely a little bit nervous,

156
00:08:26,440 --> 00:08:30,040
Speaker 1: like we're being a little bit more cautious. And as always,

157
00:08:30,440 --> 00:08:35,200
Speaker 1: whenever anybody is uncertain, that actually leads to volatility in

158
00:08:35,200 --> 00:08:38,440
Speaker 1: the market. So volatility is I feel like it's a

159
00:08:38,559 --> 00:08:41,040
Speaker 1: very fancy word for just saying that the market goes

160
00:08:41,120 --> 00:08:44,000
Speaker 1: up and down, Like volatility is how quickly it ebbs

161
00:08:44,040 --> 00:08:47,120
Speaker 1: and it flows. But in saying that, at the time

162
00:08:47,160 --> 00:08:50,600
Speaker 1: of recording, investors are we're just waiting to see what

163
00:08:50,679 --> 00:08:55,480
Speaker 1: Liberation Day brings. Okay, I'm just so interested to know

164
00:08:55,520 --> 00:08:58,000
Speaker 1: what they hell Trump? Like, why why does that have

165
00:08:58,040 --> 00:08:59,400
Speaker 1: to be called Liberation Day? Trump?

166
00:08:59,480 --> 00:09:02,880
Speaker 3: It's very It's so, I know it does sound very,

167
00:09:02,960 --> 00:09:07,000
Speaker 3: very scary. So I've been hearing the word correction thrown around,

168
00:09:07,080 --> 00:09:09,760
Speaker 3: yes lately, and I think I know what it means,

169
00:09:09,760 --> 00:09:12,959
Speaker 3: but also like, I don't really at all. That's okay,

170
00:09:13,000 --> 00:09:15,680
Speaker 3: it's just a fancy way of saying the market's crashing.

171
00:09:16,000 --> 00:09:21,760
Speaker 1: No, a market correction is not necessarily a crash, but

172
00:09:22,240 --> 00:09:25,800
Speaker 1: a market correction happens when the share market drops by

173
00:09:25,960 --> 00:09:30,280
Speaker 1: ten to twenty percent from its most recent peak, so

174
00:09:30,400 --> 00:09:32,760
Speaker 1: not from what it is today, from what its most

175
00:09:32,760 --> 00:09:35,320
Speaker 1: recent peak is, and we know that it's already heading

176
00:09:35,440 --> 00:09:38,720
Speaker 1: downwards at the moment, and to contextualize that a little

177
00:09:38,760 --> 00:09:43,160
Speaker 1: bit more, the market's going down, Yes, but in your lifetime, Beck,

178
00:09:43,240 --> 00:09:46,120
Speaker 1: this is going to happen seven times. And if we

179
00:09:46,240 --> 00:09:49,400
Speaker 1: look back at history and go, well, what happened in

180
00:09:49,440 --> 00:09:52,280
Speaker 1: previous market crashes, we know that the market has gone

181
00:09:52,360 --> 00:09:55,640
Speaker 1: down and then it's gone back up and some so

182
00:09:55,720 --> 00:09:59,920
Speaker 1: we do not have experience where the market has crashed

183
00:10:00,000 --> 00:10:02,360
Speaker 1: and it stays crashed, right, And I think that that's

184
00:10:02,400 --> 00:10:05,320
Speaker 1: good to understand here, because I think a lot of

185
00:10:05,320 --> 00:10:06,760
Speaker 1: the time we go, well, what does it mean if

186
00:10:06,760 --> 00:10:09,400
Speaker 1: the market crashes, are not going to lose all my money? Yes,

187
00:10:09,440 --> 00:10:11,240
Speaker 1: you will lose all your money if you take it

188
00:10:11,280 --> 00:10:14,720
Speaker 1: out of your investment portfolio and accept the lower amount

189
00:10:14,760 --> 00:10:17,640
Speaker 1: that your portfolio is currently valued at. But if you

190
00:10:17,760 --> 00:10:21,600
Speaker 1: stayed invested and waited until it crept back up, long

191
00:10:21,720 --> 00:10:26,000
Speaker 1: term investors are winners. So back to correction. A correction

192
00:10:26,320 --> 00:10:30,120
Speaker 1: is or it's called a correction because it's basically the

193
00:10:30,160 --> 00:10:33,520
Speaker 1: market giving itself like a little bit of a reset.

194
00:10:33,840 --> 00:10:36,199
Speaker 1: I would say, it's kind of like, well, maybe we

195
00:10:36,280 --> 00:10:38,000
Speaker 1: got a little bit of ahead of ourselves, Like maybe

196
00:10:38,040 --> 00:10:39,959
Speaker 1: we got a little bit too confident. We're going to

197
00:10:40,000 --> 00:10:44,120
Speaker 1: peg ourselves back a little bit. And that's not necessarily

198
00:10:44,160 --> 00:10:46,640
Speaker 1: a bad thing. So both the SMP five hundred in

199
00:10:46,720 --> 00:10:49,280
Speaker 1: the US, which is essentially the top five hundred companies

200
00:10:49,320 --> 00:10:52,480
Speaker 1: in the US, and the ASX here in Australia have

201
00:10:52,559 --> 00:10:55,640
Speaker 1: dropped into correction territory this month. So if you're seeing

202
00:10:55,640 --> 00:10:57,320
Speaker 1: that on the news and people are talking about a

203
00:10:57,320 --> 00:11:00,400
Speaker 1: market correction, that's essentially what's happened. There has been a

204
00:11:00,440 --> 00:11:04,360
Speaker 1: peak and it's a minimum of ten percent down. That's

205
00:11:04,400 --> 00:11:08,000
Speaker 1: all that means, so what does that mean? At the moment,

206
00:11:08,040 --> 00:11:11,960
Speaker 1: we're seeing hopeful his short term volatility play out across

207
00:11:11,960 --> 00:11:15,920
Speaker 1: global markets corrections. I think that they feel very uncomfortable

208
00:11:16,000 --> 00:11:18,520
Speaker 1: because you've logged into your investment portfolio, Like Beck, if

209
00:11:18,520 --> 00:11:21,520
Speaker 1: you logged into Charesis right now, I can always guarantee yeap,

210
00:11:21,679 --> 00:11:24,440
Speaker 1: she's gone down. She's gone down. Does that feel good? No,

211
00:11:24,520 --> 00:11:27,320
Speaker 1: it's scary. I've been. I think it's really comforting to know.

212
00:11:27,559 --> 00:11:31,240
Speaker 1: It's really comforting to talk about how these things actually

213
00:11:31,280 --> 00:11:34,920
Speaker 1: happen quite often. And like, yes, your portfolio right now, Beck,

214
00:11:35,080 --> 00:11:38,719
Speaker 1: it's valued at less. That doesn't feel good only if

215
00:11:38,760 --> 00:11:42,839
Speaker 1: you yes, exactly. I have taught you everything. But at

216
00:11:42,840 --> 00:11:45,400
Speaker 1: the moment, it doesn't feel good. But it means that

217
00:11:45,440 --> 00:11:48,439
Speaker 1: we can ride it out and it's going to come

218
00:11:48,480 --> 00:11:51,240
Speaker 1: back up. How good is that to know? Because you're

219
00:11:51,240 --> 00:11:53,920
Speaker 1: not accepting a loss, and so many of us, if

220
00:11:53,920 --> 00:11:56,280
Speaker 1: we don't have that level of education or that level

221
00:11:56,280 --> 00:12:00,360
Speaker 1: of confidence in understanding investing, we kind of week out

222
00:12:00,360 --> 00:12:01,920
Speaker 1: and go, I'm just going to take my money out.

223
00:12:01,960 --> 00:12:04,079
Speaker 1: I feel like I've lost enough. I don't want to

224
00:12:04,120 --> 00:12:08,160
Speaker 1: lose more. But you're accepting less. In this house, Beck,

225
00:12:08,240 --> 00:12:10,760
Speaker 1: we don't accept less in any part of our life,

226
00:12:10,800 --> 00:12:14,400
Speaker 1: do we know, especially when it comes to investing. Yeah, so,

227
00:12:14,760 --> 00:12:17,640
Speaker 1: on average, sorry to tell you this, a correction is

228
00:12:17,679 --> 00:12:21,520
Speaker 1: going to happen on average about every two years. Okay, well, David,

229
00:12:21,760 --> 00:12:24,959
Speaker 1: it's not a sign that something in our system is broken,

230
00:12:25,040 --> 00:12:27,880
Speaker 1: but rather the market's just do and what the market does,

231
00:12:28,559 --> 00:12:30,640
Speaker 1: And that doesn't mean it's always exciting.

232
00:12:30,920 --> 00:12:34,160
Speaker 3: It's just moving in cycles, absolutely, and she's free to

233
00:12:34,200 --> 00:12:35,520
Speaker 3: go up and down exactly.

234
00:12:35,559 --> 00:12:38,080
Speaker 1: Bet. Corrections are part of how market cycles work. I

235
00:12:38,080 --> 00:12:42,880
Speaker 1: think they're uncomfortable, yes, but they are totally normal. And look,

236
00:12:43,000 --> 00:12:44,800
Speaker 1: after the break, we're going to talk about some of

237
00:12:44,840 --> 00:12:48,280
Speaker 1: the biggest market dips in history, and what happened next

238
00:12:48,440 --> 00:12:52,280
Speaker 1: might actually surprise you a little bit, Beck, So stick around, guys,

239
00:12:56,480 --> 00:12:59,160
Speaker 1: welcome back. We are talking share market dips. But I

240
00:12:59,200 --> 00:13:01,640
Speaker 1: promise we are here to stress you out. In fact,

241
00:13:02,000 --> 00:13:04,280
Speaker 1: history gives us a lot of reasons to stay calm

242
00:13:04,679 --> 00:13:07,520
Speaker 1: when the market actually gets a little bit scary. So

243
00:13:08,000 --> 00:13:09,240
Speaker 1: I'm hearing a lot of terms.

244
00:13:09,440 --> 00:13:12,360
Speaker 3: Yes, they're actually familiar to me in my community, but

245
00:13:12,400 --> 00:13:13,240
Speaker 3: for different reasons.

246
00:13:13,600 --> 00:13:18,280
Speaker 1: Right bear, oh market, Yeah, we've really we've reframed that.

247
00:13:18,840 --> 00:13:21,880
Speaker 1: I don't say peg before too. Bear market is nothing

248
00:13:22,080 --> 00:13:25,080
Speaker 1: like what it is to you, Okay, yeah, and I

249
00:13:25,120 --> 00:13:28,679
Speaker 1: mean they're exciting. Yeah, like that's all good, that's all

250
00:13:28,720 --> 00:13:31,520
Speaker 1: good for you. It's exciting. I mean a bear market

251
00:13:31,640 --> 00:13:34,720
Speaker 1: in terms of the investment world is not. I mean

252
00:13:34,720 --> 00:13:38,920
Speaker 1: it maybe is just like hibernating, like big, warm, hug

253
00:13:39,040 --> 00:13:41,760
Speaker 1: maybe gorgeous. Yeah, okay, Like let's try and reframe that.

254
00:13:41,840 --> 00:13:42,000
Speaker 2: Right.

255
00:13:42,320 --> 00:13:45,400
Speaker 1: So there's a bear market and there's a bull market. Right,

256
00:13:45,520 --> 00:13:48,760
Speaker 1: So a bull market, if you think of the characteristics

257
00:13:48,760 --> 00:13:51,760
Speaker 1: of a bull, A bull is an aggressive animal. It

258
00:13:51,880 --> 00:13:55,959
Speaker 1: charges it a red flag. It's going up. A bear market,

259
00:13:56,360 --> 00:14:01,120
Speaker 1: it's like hibernation. Sleep here, we're going We're going to

260
00:14:01,160 --> 00:14:03,480
Speaker 1: go backwards. Yeah, so that we can come out of

261
00:14:03,559 --> 00:14:08,040
Speaker 1: this well rested. Right, So, a bear market is definitely

262
00:14:08,080 --> 00:14:11,520
Speaker 1: the more dramatic cousin of a correction, you could say,

263
00:14:11,559 --> 00:14:14,000
Speaker 1: so like you have a correction before you have a

264
00:14:14,040 --> 00:14:18,480
Speaker 1: bear market. Essentially, a bear market is when the market

265
00:14:18,520 --> 00:14:22,640
Speaker 1: falls by twenty percent or more from a recent high

266
00:14:22,800 --> 00:14:25,440
Speaker 1: and it tends to stick around for a while. We're

267
00:14:25,440 --> 00:14:28,520
Speaker 1: talking months. It can even stick around for years or

268
00:14:28,560 --> 00:14:31,120
Speaker 1: even a couple of years, depending on what's driving it.

269
00:14:31,240 --> 00:14:36,200
Speaker 1: Like the global financial crisis, bear market COVID bit of

270
00:14:36,200 --> 00:14:39,800
Speaker 1: a bear market. Bear markets usually come with what do

271
00:14:39,840 --> 00:14:44,000
Speaker 1: you say, like broader economic issues, things like rising unemployment,

272
00:14:44,200 --> 00:14:48,200
Speaker 1: slower growth, or bigger global shocks. So they're more than

273
00:14:48,320 --> 00:14:50,520
Speaker 1: just like a bit of volatility or like a little

274
00:14:50,520 --> 00:14:53,200
Speaker 1: bit of a dip. They're actually a deeper downturn that

275
00:14:53,320 --> 00:14:57,040
Speaker 1: takes much longer to recover from. So slight. Yeah, And

276
00:14:57,080 --> 00:14:59,080
Speaker 1: I like to think of the bear as kind of

277
00:14:59,160 --> 00:15:02,120
Speaker 1: like the market's going into hibernation mode because that feels

278
00:15:02,200 --> 00:15:06,040
Speaker 1: much more comfortable than saying it's dropped to pick. So

279
00:15:06,080 --> 00:15:08,680
Speaker 1: I'm like, all right, yeah, it's red, but it's in hibernation.

280
00:15:09,200 --> 00:15:12,680
Speaker 1: Now's the time. What do you do in hibernation? You stockpile,

281
00:15:13,160 --> 00:15:16,080
Speaker 1: you save all your nuts. Get cozy. Yeah, you get cozy,

282
00:15:16,160 --> 00:15:18,280
Speaker 1: You get comfy, You do what you need to do

283
00:15:18,600 --> 00:15:20,920
Speaker 1: because you're going to come out of hibernation at some point,

284
00:15:21,000 --> 00:15:22,520
Speaker 1: right like some's coming baby.

285
00:15:22,640 --> 00:15:24,960
Speaker 3: Oh yeah, you're going to come out fresh as a daisy,

286
00:15:25,040 --> 00:15:26,000
Speaker 3: ready to tackle the world.

287
00:15:26,040 --> 00:15:29,040
Speaker 1: So very different to what it means in your community. Yes,

288
00:15:29,120 --> 00:15:32,560
Speaker 1: so the ASX has dropped, but at this point in time,

289
00:15:33,240 --> 00:15:35,480
Speaker 1: not enough for us to say that we're currently in

290
00:15:35,480 --> 00:15:38,120
Speaker 1: a bear market. Okay, okay, got you, but I'll let

291
00:15:38,160 --> 00:15:39,840
Speaker 1: you know if we are in a bear market, thank you.

292
00:15:40,040 --> 00:15:42,160
Speaker 1: We'll be making a lot of bear content, but apparently

293
00:15:42,240 --> 00:15:45,240
Speaker 1: not the type of bear content you're into. A haha.

294
00:15:45,320 --> 00:15:47,640
Speaker 4: We could do both. I'm sure we could try and collab.

295
00:15:47,840 --> 00:15:50,280
Speaker 4: We could collab. I think we'd be good at this.

296
00:15:50,400 --> 00:15:52,960
Speaker 4: You let me know how you think that's going to work. Yes,

297
00:15:53,040 --> 00:15:54,920
Speaker 4: I'll do, or I'll come to you with some draft ideas.

298
00:15:55,440 --> 00:15:57,200
Speaker 4: So I get the sense of the media's kind of

299
00:15:57,240 --> 00:15:59,280
Speaker 4: like just to be safe, being maybe.

300
00:15:59,080 --> 00:16:03,520
Speaker 1: A little bit dream Oh, they're so dramatic. When media dramatic,

301
00:16:03,720 --> 00:16:08,040
Speaker 1: it's truebody cares when your share portfolios just bopping along? Yeah,

302
00:16:08,080 --> 00:16:09,760
Speaker 1: were you going to put that on the front page

303
00:16:09,760 --> 00:16:15,080
Speaker 1: of the newspaper? Share portfolio performance expected, Like, oh great,

304
00:16:15,200 --> 00:16:21,120
Speaker 1: no worries. Financial advisor was correct, Like how they are

305
00:16:21,400 --> 00:16:25,160
Speaker 1: at least at the time of US recording. And honestly,

306
00:16:25,520 --> 00:16:27,800
Speaker 1: they love to cause a little bit of panic. I've

307
00:16:27,840 --> 00:16:30,640
Speaker 1: spoken to you guys about the emotional journey of investing

308
00:16:30,680 --> 00:16:33,720
Speaker 1: before at the peak, like when people are like, it's

309
00:16:33,720 --> 00:16:37,040
Speaker 1: like Bitcoin, My favorite example is Bitcoin. Remember when people

310
00:16:37,040 --> 00:16:41,080
Speaker 1: were like, if you're not investing in bitcoin, you're an idiot, like,

311
00:16:41,240 --> 00:16:44,240
Speaker 1: and every man in his dog was like investing in bitcoin,

312
00:16:44,320 --> 00:16:47,200
Speaker 1: and then you had fomo oh yeah, because everyone was

313
00:16:47,240 --> 00:16:48,840
Speaker 1: doing it but you and you thought you were going

314
00:16:48,880 --> 00:16:51,120
Speaker 1: to miss out. But that's actually the point in time

315
00:16:51,560 --> 00:16:55,360
Speaker 1: that is maximum risk. And then on the opposite of that,

316
00:16:55,440 --> 00:16:57,320
Speaker 1: when people are being really dramatic and they're like, the

317
00:16:57,400 --> 00:17:01,520
Speaker 1: stock market sucks, great, that might actually be an opportunity

318
00:17:01,520 --> 00:17:04,600
Speaker 1: for me to invest, because you're trying to knock my confidence.

319
00:17:04,800 --> 00:17:07,160
Speaker 1: And when you're trying to knock my confidence, you are

320
00:17:07,240 --> 00:17:09,960
Speaker 1: being successful with a number of people, which means they're

321
00:17:10,000 --> 00:17:12,920
Speaker 1: not investing, which means maybe I've got an opportunity to

322
00:17:12,960 --> 00:17:16,359
Speaker 1: buy some discount shares right, love to see it. Yeah,

323
00:17:16,560 --> 00:17:20,520
Speaker 1: keep on being dramatic market, and keep on being dramatic media,

324
00:17:20,640 --> 00:17:24,879
Speaker 1: because I actually love when my shares are undervalued because

325
00:17:25,000 --> 00:17:27,920
Speaker 1: I'm stocking up for winter baby. Oh yeah, we're reaping

326
00:17:27,960 --> 00:17:30,760
Speaker 1: the rule war exactly. So this is where if we

327
00:17:30,800 --> 00:17:33,359
Speaker 1: look at history we can kind of like help calm

328
00:17:33,400 --> 00:17:37,600
Speaker 1: the panic. Because every bear market we've ever been through, Yeah,

329
00:17:37,680 --> 00:17:41,200
Speaker 1: twenty percent drop sounds like it sucks, but we've always recovered.

330
00:17:41,600 --> 00:17:44,280
Speaker 1: There's not been one time in history where a bear

331
00:17:44,320 --> 00:17:47,280
Speaker 1: market hasn't come back to be a bull market. And

332
00:17:47,400 --> 00:17:50,120
Speaker 1: if we look at the last one hundred and twenty

333
00:17:50,160 --> 00:17:53,240
Speaker 1: four years here in Australia, which is exactly how long

334
00:17:53,400 --> 00:17:57,359
Speaker 1: the Australian share market has existed, the market has ended

335
00:17:57,400 --> 00:18:01,480
Speaker 1: the year down just twenty four times. Out of one

336
00:18:01,520 --> 00:18:05,000
Speaker 1: hundred and twenty four times that the market has ended

337
00:18:05,240 --> 00:18:08,840
Speaker 1: in Australia, just twenty four times, it's ended down a

338
00:18:09,160 --> 00:18:12,160
Speaker 1: one hundred times it has ended up, and that's only

339
00:18:12,240 --> 00:18:15,119
Speaker 1: nineteen percent of the time, which is not that bad.

340
00:18:15,200 --> 00:18:17,560
Speaker 1: So that means that more than eighty percent of the

341
00:18:17,600 --> 00:18:20,920
Speaker 1: time it's ended up. Even when we've had some psychotic

342
00:18:21,080 --> 00:18:27,479
Speaker 1: wild years including wars and financial crisis and pandemics, like,

343
00:18:27,600 --> 00:18:31,040
Speaker 1: we've only ended down a few times. Right, Oh, that's

344
00:18:31,080 --> 00:18:33,879
Speaker 1: not that bad, that's pretty good. That's boring for the

345
00:18:33,880 --> 00:18:37,159
Speaker 1: front of a newspaper. That's so boring, Beck And some

346
00:18:37,240 --> 00:18:40,679
Speaker 1: of the best years, honestly came after the worst years.

347
00:18:41,119 --> 00:18:43,800
Speaker 1: And I'm not saying it just recovered and got back

348
00:18:43,800 --> 00:18:45,560
Speaker 1: to where it was and we're going to take credit

349
00:18:45,600 --> 00:18:48,199
Speaker 1: for that. But like in two thousand and eight is

350
00:18:48,200 --> 00:18:50,919
Speaker 1: when the global financial crisis happened, and I think that's

351
00:18:51,320 --> 00:18:53,679
Speaker 1: you know, if you're listening to this podcast, you have

352
00:18:53,720 --> 00:18:56,399
Speaker 1: an idea of that, but you're very likely to have

353
00:18:56,480 --> 00:18:59,959
Speaker 1: not experienced that individually, because in two thousand and eight,

354
00:19:00,200 --> 00:19:02,160
Speaker 1: a lot of you were in school, or you were

355
00:19:02,200 --> 00:19:04,560
Speaker 1: just coming out of school, or you weren't investing at

356
00:19:04,560 --> 00:19:06,880
Speaker 1: that point in time. But in two thousand and eight,

357
00:19:07,520 --> 00:19:11,800
Speaker 1: beck the market dropped by forty percent. That would have

358
00:19:11,920 --> 00:19:14,600
Speaker 1: made anybody run for the hills. That's scary as the

359
00:19:14,600 --> 00:19:17,640
Speaker 1: scary number. In two thousand and nine, it bounced back

360
00:19:17,680 --> 00:19:21,120
Speaker 1: with a thirty nine zero point six percent game. Okay,

361
00:19:21,480 --> 00:19:23,320
Speaker 1: when all the way back and then came all the

362
00:19:23,359 --> 00:19:26,040
Speaker 1: way forward and now it's grown and some. And then

363
00:19:26,080 --> 00:19:29,720
Speaker 1: after COVID, so remember the COVID crash, everyone was absolutely

364
00:19:29,760 --> 00:19:33,080
Speaker 1: spitting it like unemployment was at its peak because obviously

365
00:19:33,080 --> 00:19:35,160
Speaker 1: everyone was working from home. Every man and his dog

366
00:19:35,240 --> 00:19:39,080
Speaker 1: was being made redundant. The market then returned by seventeen

367
00:19:39,160 --> 00:19:42,240
Speaker 1: point one percent in twenty twenty one. She thrivees so

368
00:19:42,520 --> 00:19:46,240
Speaker 1: like she comes back. She's a redemption queen. She's always

369
00:19:46,240 --> 00:19:49,200
Speaker 1: trying to reinvent herself and it's worked every single time.

370
00:19:49,800 --> 00:19:51,920
Speaker 1: And then if we go back to a time when

371
00:19:51,960 --> 00:19:56,240
Speaker 1: you and I weren't alive Beck in nineteen eighty three,

372
00:19:56,720 --> 00:20:00,040
Speaker 1: right after the recession. I remember, yeah you do, I

373
00:20:00,240 --> 00:20:01,920
Speaker 1: have heard of it. I've told you about the recession

374
00:20:01,920 --> 00:20:04,960
Speaker 1: before I was probably like twenty twenty eight. Yeah, yeah, yeah,

375
00:20:04,960 --> 00:20:08,600
Speaker 1: I think so. Yeah, yeah, the market actually surged by

376
00:20:08,720 --> 00:20:12,800
Speaker 1: sixty six point eight percent. WHOA like imagine those returns? Like,

377
00:20:12,920 --> 00:20:16,400
Speaker 1: imagine during the recession, obviously, lots of people were struggling.

378
00:20:16,440 --> 00:20:18,280
Speaker 1: Please don't get me wrong, it's not what we're talking about.

379
00:20:18,280 --> 00:20:20,240
Speaker 1: We're here to talk about investment. But imagine during the

380
00:20:20,280 --> 00:20:23,040
Speaker 1: recession if you saw the markets dropping and you bought

381
00:20:23,160 --> 00:20:25,639
Speaker 1: a whole heap of shares because you were like, this

382
00:20:25,720 --> 00:20:28,280
Speaker 1: is an opportunity, and then the market the year after

383
00:20:28,400 --> 00:20:31,879
Speaker 1: surged by sixty six point eight percent. We love laugh baby,

384
00:20:31,920 --> 00:20:37,080
Speaker 1: you would be cheering exactly. So, while history doesn't repeat

385
00:20:37,119 --> 00:20:42,800
Speaker 1: itself exactly, I think these examples show that what recovery

386
00:20:42,840 --> 00:20:47,200
Speaker 1: periods can be incredibly strong. Yeah, and that happens even

387
00:20:47,240 --> 00:20:49,840
Speaker 1: after significant dips. And like, my job is to help

388
00:20:49,880 --> 00:20:53,159
Speaker 1: you feel confident about your investing journey, because lots of

389
00:20:53,160 --> 00:20:55,320
Speaker 1: you are freaking out right now, being like what the heck?

390
00:20:55,400 --> 00:20:58,879
Speaker 1: They like my investment portfolio is down, so I think

391
00:20:59,200 --> 00:21:01,479
Speaker 1: that makes me feel confident. And when I'm looking at

392
00:21:01,520 --> 00:21:04,800
Speaker 1: my investment portfolio and I'm like, oh my goodness, this

393
00:21:05,000 --> 00:21:08,760
Speaker 1: feels like trash. Reframing it and being like, well, actually,

394
00:21:09,480 --> 00:21:12,520
Speaker 1: this is what history has said. Yep, maybe I should

395
00:21:12,520 --> 00:21:14,639
Speaker 1: be investing more. And you're doing a great job, because

396
00:21:15,880 --> 00:21:16,920
Speaker 1: this is very, very comforting.

397
00:21:17,280 --> 00:21:21,680
Speaker 3: So if the market has historically always recovered, yeah, as

398
00:21:21,680 --> 00:21:24,680
Speaker 3: we know, why does everyone freak out the second.

399
00:21:24,480 --> 00:21:24,879
Speaker 1: We see it?

400
00:21:24,960 --> 00:21:25,080
Speaker 3: Oh?

401
00:21:25,160 --> 00:21:28,480
Speaker 1: Baby? We are inherently emotional, yeah, Like have you met

402
00:21:28,480 --> 00:21:30,920
Speaker 1: a human that is not inherently emotional? And also, I

403
00:21:30,920 --> 00:21:33,080
Speaker 1: guess we're thinking what if this time it doesn't come

404
00:21:33,119 --> 00:21:36,800
Speaker 1: back exactly because we are, if not anything super dramatic,

405
00:21:36,840 --> 00:21:41,920
Speaker 1: ourselves like unfortunately, the market when it comes to investing

406
00:21:41,960 --> 00:21:45,919
Speaker 1: might be very logical, but people are deeply emotional and

407
00:21:46,080 --> 00:21:51,239
Speaker 1: at a very primal level, we are hunter gatherers and

408
00:21:51,359 --> 00:21:53,840
Speaker 1: we are anxious about these things, and we want to

409
00:21:53,880 --> 00:21:57,680
Speaker 1: stockpile our resources to make sure we don't have a

410
00:21:57,720 --> 00:22:00,720
Speaker 1: time where we don't have enough. Makes sense, And then

411
00:22:00,760 --> 00:22:03,480
Speaker 1: overlaying our money story. If you've been through you know,

412
00:22:03,600 --> 00:22:06,439
Speaker 1: financial hardship that is going to hit even harder. We

413
00:22:06,480 --> 00:22:10,040
Speaker 1: are emotional like, and that is okay, But our brains

414
00:22:10,200 --> 00:22:13,080
Speaker 1: they're not built for the share market. Our brains are

415
00:22:13,080 --> 00:22:15,960
Speaker 1: built in a very linear way, and the share market

416
00:22:16,000 --> 00:22:19,200
Speaker 1: works in a very compounding way. And that is actually

417
00:22:19,480 --> 00:22:23,000
Speaker 1: I'm not saying the concept is hard to comprehend, but

418
00:22:23,359 --> 00:22:27,320
Speaker 1: actually making that happen is very hard for our brains

419
00:22:27,320 --> 00:22:29,520
Speaker 1: to wrap it around. Like, at the end of the day,

420
00:22:29,560 --> 00:22:33,040
Speaker 1: we are wired for survival. So when we see our

421
00:22:33,160 --> 00:22:37,159
Speaker 1: investments drop, our brain just goes threat. That is a

422
00:22:37,200 --> 00:22:39,520
Speaker 1: threat that is very scary, and we go into fight

423
00:22:39,640 --> 00:22:42,480
Speaker 1: or flight. It's just going to happen the same way

424
00:22:42,880 --> 00:22:45,240
Speaker 1: that if you heard like a smoke alarm or something

425
00:22:45,240 --> 00:22:47,600
Speaker 1: go off at two am. It kicks off a fear

426
00:22:47,680 --> 00:22:50,040
Speaker 1: response that tell us to do something, do anything, beck,

427
00:22:50,080 --> 00:22:52,760
Speaker 1: do anything you need to stop the perceived loss. I

428
00:22:52,800 --> 00:22:55,760
Speaker 1: don't want my house burning down. Like that is exactly

429
00:22:55,800 --> 00:22:59,840
Speaker 1: what is happening. And because of something called loss aversion,

430
00:23:00,400 --> 00:23:04,520
Speaker 1: psychologists have actually found that a loss feels twice as

431
00:23:04,600 --> 00:23:09,640
Speaker 1: painful as anything good we gained. Huh, how annoying that sucks.

432
00:23:09,920 --> 00:23:13,560
Speaker 1: So a ten percent drop to your portfolio feels much

433
00:23:13,640 --> 00:23:16,400
Speaker 1: more dramatic than if you've got a ten percent game.

434
00:23:16,440 --> 00:23:18,280
Speaker 1: If you got a ten percent game, you're like, yeah, cool,

435
00:23:18,480 --> 00:23:20,399
Speaker 1: you got a ten percent loss. You're like, what the heck,

436
00:23:20,840 --> 00:23:22,160
Speaker 1: I didn't sign up for this?

437
00:23:22,520 --> 00:23:25,800
Speaker 3: Oh man, So it is true, right, yeah, that makes sense,

438
00:23:25,880 --> 00:23:26,520
Speaker 3: that makes sense.

439
00:23:26,640 --> 00:23:29,160
Speaker 1: And then what do we do. I'm good at this,

440
00:23:29,280 --> 00:23:33,560
Speaker 1: I'm extra actually good at this at three am. Oh yeah, tastrophizing.

441
00:23:34,080 --> 00:23:36,520
Speaker 1: So this is the way your brain jumps to the

442
00:23:36,720 --> 00:23:41,200
Speaker 1: worst case scenario every single time, Like the market drops

443
00:23:41,200 --> 00:23:43,760
Speaker 1: a little and then suddenly, Beck, you did it before,

444
00:23:44,280 --> 00:23:46,639
Speaker 1: it's all over. The market's never going to recover. What

445
00:23:46,680 --> 00:23:49,520
Speaker 1: if it just doesn't recover this time, she's never coming back.

446
00:23:49,640 --> 00:23:52,000
Speaker 1: I should actually just sell everything and I should hide

447
00:23:52,040 --> 00:23:54,200
Speaker 1: and I'm just going to keep my money under my mattress.

448
00:23:54,640 --> 00:23:57,119
Speaker 1: Live love, laugh, Like that is going to work for me.

449
00:23:57,440 --> 00:23:59,840
Speaker 1: It's actually your brain trying to protect you. And that's

450
00:23:59,840 --> 00:24:03,440
Speaker 1: so nice. That's thanks your brain. Yeah, turn off. Yes,

451
00:24:03,560 --> 00:24:05,959
Speaker 1: that's cute, but you can chill out. Yeah, just stop,

452
00:24:06,280 --> 00:24:09,000
Speaker 1: just stop. You are being overprotective right now, and that

453
00:24:09,080 --> 00:24:13,280
Speaker 1: often leads to the exact kind of decisions that hurt

454
00:24:13,480 --> 00:24:16,879
Speaker 1: your long term performance. One out of ten, don't do

455
00:24:16,960 --> 00:24:19,119
Speaker 1: that to me, Like we need to be able to

456
00:24:19,119 --> 00:24:21,280
Speaker 1: reframe it and be like, thanks for you actually being

457
00:24:21,320 --> 00:24:24,240
Speaker 1: a little bit overbearing right now, and I don't align

458
00:24:24,280 --> 00:24:25,480
Speaker 1: with that as an investor.

459
00:24:25,520 --> 00:24:30,080
Speaker 3: Appreciate your concerns, but nothing to worry about exactly, exactly,

460
00:24:30,240 --> 00:24:31,000
Speaker 3: and at three am.

461
00:24:31,119 --> 00:24:33,000
Speaker 1: That's very hard to negotiate.

462
00:24:33,119 --> 00:24:33,479
Speaker 3: Hard.

463
00:24:33,720 --> 00:24:37,439
Speaker 1: And it's not that people are irrational, it's that money

464
00:24:37,880 --> 00:24:41,520
Speaker 1: is deeply emotional, and emotional decisions beck can never make

465
00:24:41,600 --> 00:24:45,119
Speaker 1: for the best investment strategy. Oh, I cane. Like I

466
00:24:45,200 --> 00:24:47,480
Speaker 1: was talking to someone the other day about their hex

467
00:24:47,520 --> 00:24:49,399
Speaker 1: stet and they're like, yeah, but if I just paid

468
00:24:49,400 --> 00:24:51,840
Speaker 1: off And I was like, cool, So if you paid

469
00:24:51,880 --> 00:24:55,840
Speaker 1: off your entire hex stet, what's that indexing at. It's

470
00:24:55,840 --> 00:24:58,280
Speaker 1: indexing at like, let's just say four percent. What's the

471
00:24:58,320 --> 00:25:01,400
Speaker 1: share market return at like, oh, nine and a half

472
00:25:01,440 --> 00:25:04,520
Speaker 1: percent on average? Like okay, cool, So if we had

473
00:25:04,880 --> 00:25:07,280
Speaker 1: a return of four percent or nine and a half percent,

474
00:25:07,280 --> 00:25:09,040
Speaker 1: which is better. Oh, that's a good way to look

475
00:25:09,040 --> 00:25:11,439
Speaker 1: at where are you putting your money? Ah in the

476
00:25:11,480 --> 00:25:12,040
Speaker 1: share market?

477
00:25:12,080 --> 00:25:12,280
Speaker 3: Yeah?

478
00:25:12,280 --> 00:25:15,560
Speaker 1: Okay? Why? Oh well, I don't like debt. I'm deeply

479
00:25:15,560 --> 00:25:17,879
Speaker 1: emotional about this. It makes me feel like trash. I

480
00:25:17,920 --> 00:25:20,720
Speaker 1: get it, but we need to reframe these things so

481
00:25:20,760 --> 00:25:24,840
Speaker 1: that our investment strategy is not just emotional. It's not

482
00:25:24,880 --> 00:25:27,679
Speaker 1: just going well that would feel good. I get it,

483
00:25:27,920 --> 00:25:30,280
Speaker 1: I really do. And I won't keep talking about Hex

484
00:25:30,320 --> 00:25:32,240
Speaker 1: because I could. We should do another episode on Hex.

485
00:25:32,359 --> 00:25:33,479
Speaker 1: We should, we should?

486
00:25:34,040 --> 00:25:37,520
Speaker 3: So what should we be doing to beat our emotional brains?

487
00:25:38,240 --> 00:25:39,440
Speaker 3: Beat them, get in the bin.

488
00:25:39,560 --> 00:25:42,280
Speaker 1: Like our emotional brain can be really helpful, but like

489
00:25:42,320 --> 00:25:44,720
Speaker 1: we're switching to our logical brain, and we have to

490
00:25:44,760 --> 00:25:48,400
Speaker 1: remember that our brain is actually reacting to fear, it's

491
00:25:48,400 --> 00:25:51,760
Speaker 1: not reacting to facts. But you can actually work around

492
00:25:51,840 --> 00:25:54,320
Speaker 1: it because sometimes facts come into it and they give

493
00:25:54,400 --> 00:25:56,640
Speaker 1: us that stability. Right the second I go, okay, back,

494
00:25:56,680 --> 00:25:59,359
Speaker 1: but like, let's look at the bigger picture ABCD, and

495
00:25:59,400 --> 00:26:01,760
Speaker 1: you go, that actually makes me feel better because now

496
00:26:01,800 --> 00:26:05,080
Speaker 1: I'm being a bit more logical about it. So first

497
00:26:05,080 --> 00:26:06,760
Speaker 1: thing we're going to do. You're not going to be

498
00:26:06,800 --> 00:26:09,960
Speaker 1: surprised here, baby, when in down zoom out, Yeah, long

499
00:26:10,080 --> 00:26:14,800
Speaker 1: term charts show that recovery is normal and today's drop

500
00:26:14,880 --> 00:26:16,800
Speaker 1: is just it's just one part of the story. There's

501
00:26:16,800 --> 00:26:19,760
Speaker 1: a whole other story. Zoom out, baby, yep, stop refreshing.

502
00:26:19,960 --> 00:26:23,600
Speaker 1: Maybe let's not check our portfolio every single day that's

503
00:26:23,640 --> 00:26:26,639
Speaker 1: maybe just a reminder for me, not necessarily for everybody else.

504
00:26:26,680 --> 00:26:29,359
Speaker 1: But if you're doing what I'm doing, cut it out.

505
00:26:29,400 --> 00:26:33,560
Speaker 1: It is not helpful unless you're logging in to invest more.

506
00:26:33,840 --> 00:26:36,840
Speaker 1: We don't need to be checking our portfolio consistently because

507
00:26:36,880 --> 00:26:40,720
Speaker 1: you know what that does, fuels anxiety. We don't need

508
00:26:40,840 --> 00:26:43,359
Speaker 1: that in our lives. We're going to stick to the plan.

509
00:26:43,960 --> 00:26:46,600
Speaker 1: So you know how I hop on and on about

510
00:26:46,640 --> 00:26:49,720
Speaker 1: having an investment strategy and having a plan. This is why,

511
00:26:49,880 --> 00:26:52,360
Speaker 1: because we need to stick to that plan right now

512
00:26:52,400 --> 00:26:55,560
Speaker 1: to make sure that future us isn't impacted. So we're

513
00:26:55,560 --> 00:26:57,960
Speaker 1: going to remind ourselves of our goals. If you're investing

514
00:26:57,960 --> 00:27:00,040
Speaker 1: for the future, you're not investing for this weekend and

515
00:27:00,160 --> 00:27:03,760
Speaker 1: be so don't let short term fear change the strategy

516
00:27:03,800 --> 00:27:07,960
Speaker 1: that you've set up for future success. And then, honestly,

517
00:27:08,600 --> 00:27:12,600
Speaker 1: paper losses aren't real. Like this is probably silly but

518
00:27:13,119 --> 00:27:16,120
Speaker 1: makes sense to me. You log into your investing app

519
00:27:16,200 --> 00:27:19,000
Speaker 1: and it says you've lost money. You haven't lost money. Yeah,

520
00:27:19,040 --> 00:27:21,480
Speaker 1: you actually haven't lost a bloody thing, just numbers on

521
00:27:21,480 --> 00:27:24,760
Speaker 1: a screen. You still have the same amount of shares, right,

522
00:27:24,840 --> 00:27:28,080
Speaker 1: did you lose any shares? Right? Did you lose actually

523
00:27:28,119 --> 00:27:31,480
Speaker 1: any assets? No? No, But what does that number say?

524
00:27:31,600 --> 00:27:34,280
Speaker 1: That number says that if you sold your assets today

525
00:27:34,600 --> 00:27:36,840
Speaker 1: and you still have those same ten assets that you

526
00:27:36,880 --> 00:27:40,280
Speaker 1: had yesterday, they're just going to pay you less. Like

527
00:27:40,320 --> 00:27:41,919
Speaker 1: if I came to you and beck you owned a

528
00:27:41,960 --> 00:27:44,520
Speaker 1: house and you said my house is worth five hundred

529
00:27:44,520 --> 00:27:47,640
Speaker 1: thousand dollars, and I knock on your door and say, hey,

530
00:27:47,640 --> 00:27:49,200
Speaker 1: beck On to buy your house and you go, great,

531
00:27:49,240 --> 00:27:52,639
Speaker 1: I'm on the market anyway, I go four hundred thousand dollars.

532
00:27:52,800 --> 00:27:55,480
Speaker 1: What are you going to do? I want to say, no, no,

533
00:27:55,560 --> 00:27:58,359
Speaker 1: it's worth more. That's me. Yeah, that's nasty. You are

534
00:27:58,400 --> 00:28:02,639
Speaker 1: undervaluing me. I'm not accepting that loss. So I'm not

535
00:28:02,720 --> 00:28:05,399
Speaker 1: going to be accepting that. Thank you. I'm going to

536
00:28:05,480 --> 00:28:08,360
Speaker 1: wait for a better buyer. That is such a good

537
00:28:08,440 --> 00:28:10,600
Speaker 1: way to I'm going to wait for someone else, and

538
00:28:10,640 --> 00:28:13,000
Speaker 1: I'm going to wait until they're confident that this is

539
00:28:13,200 --> 00:28:15,159
Speaker 1: as sexy a our set as I think it is.

540
00:28:15,640 --> 00:28:18,480
Speaker 1: I'm going to wait for my five hundred thousand dollars value. Right,

541
00:28:18,520 --> 00:28:21,840
Speaker 1: such a great paper. Losses are not real. You only

542
00:28:21,960 --> 00:28:25,320
Speaker 1: lose money if you sell your assets and then lock

543
00:28:25,359 --> 00:28:28,320
Speaker 1: in those losses. Which to be a little bit fancy.

544
00:28:28,359 --> 00:28:32,440
Speaker 1: In investment world, that's called crystallizing a loss. So if

545
00:28:32,440 --> 00:28:35,879
Speaker 1: we crystallize a loss, we've accepted less for something that

546
00:28:35,960 --> 00:28:38,320
Speaker 1: is worth more. Yeah, okay, that's not that she's on

547
00:28:38,360 --> 00:28:41,040
Speaker 1: the money vibe. No, that's not how we ask spirit.

548
00:28:41,280 --> 00:28:44,880
Speaker 1: So that's exactly why I literally say, don't invest money

549
00:28:44,880 --> 00:28:46,960
Speaker 1: that you're going to need in the next couple of years,

550
00:28:47,320 --> 00:28:50,120
Speaker 1: because you know, if you're like, well, be I need it, well,

551
00:28:50,120 --> 00:28:51,960
Speaker 1: you're going to have to accept some losses to get

552
00:28:52,000 --> 00:28:54,600
Speaker 1: that money back. Yeah, that's not the life we want

553
00:28:54,640 --> 00:28:56,160
Speaker 1: to live, which is why we always have to have

554
00:28:56,200 --> 00:28:59,400
Speaker 1: an emergency fund to access some cash. So we're never

555
00:28:59,520 --> 00:29:02,800
Speaker 1: selling our portfolio at a less than good time. So yes,

556
00:29:02,840 --> 00:29:06,520
Speaker 1: for example, if you're like thinking of investing your house deposit,

557
00:29:06,560 --> 00:29:08,600
Speaker 1: which a lot of people in our community are, like,

558
00:29:08,600 --> 00:29:11,360
Speaker 1: I'm saving up for my first home, you're thinking, oh

559
00:29:11,360 --> 00:29:12,680
Speaker 1: my gosh, I'm just gonna pop it in the share

560
00:29:12,720 --> 00:29:15,440
Speaker 1: market because love me some sexy returns and I'm going

561
00:29:15,480 --> 00:29:17,040
Speaker 1: to try and get a little bit of a boost

562
00:29:17,360 --> 00:29:19,440
Speaker 1: that could backfire. Like imagine if you've done that at

563
00:29:19,440 --> 00:29:21,640
Speaker 1: the start of this year. Yeah, and then you're planning

564
00:29:21,680 --> 00:29:23,680
Speaker 1: on buying in like June, Are you pulling your money

565
00:29:23,720 --> 00:29:26,560
Speaker 1: out now at a loss? Like unless you're planning on

566
00:29:26,680 --> 00:29:30,160
Speaker 1: riding the wave and you're like very happy to go, Okay,

567
00:29:30,200 --> 00:29:33,360
Speaker 1: well the market's down, I'm going to put off buying

568
00:29:33,400 --> 00:29:36,240
Speaker 1: for another year. Yeah, Like I would never be investing

569
00:29:36,280 --> 00:29:38,920
Speaker 1: that amount of money because investing only works when you

570
00:29:39,000 --> 00:29:42,160
Speaker 1: give it time. It's a long term game, not a

571
00:29:42,280 --> 00:29:45,240
Speaker 1: quick term win. Yeah, that's a great I could harp

572
00:29:45,280 --> 00:29:47,680
Speaker 1: on and on about that. I mean, I'm happy to listen,

573
00:29:48,160 --> 00:29:50,040
Speaker 1: but I do you want to buckle in?

574
00:29:50,160 --> 00:29:52,960
Speaker 3: No? No, No, we're trying to wrap this episode. I

575
00:29:52,960 --> 00:29:55,480
Speaker 3: do want to know, like what about individual stocks? Like

576
00:29:55,520 --> 00:29:57,640
Speaker 3: how do I know if something I own is just

577
00:29:58,000 --> 00:30:01,400
Speaker 3: dipping with the market or actually tanking? Yeah, look, at

578
00:30:01,440 --> 00:30:04,560
Speaker 3: the end of the day, it is a very good question,

579
00:30:04,800 --> 00:30:06,840
Speaker 3: and there's actually no perfect way to.

580
00:30:06,880 --> 00:30:10,560
Speaker 1: Know in the moment. Sure, but there are a few

581
00:30:10,840 --> 00:30:12,920
Speaker 1: signs that could help you get a better sense of

582
00:30:12,960 --> 00:30:14,920
Speaker 1: what's going on. And I teach this in a lot

583
00:30:14,960 --> 00:30:17,960
Speaker 1: more depth in my investing masterclass. But like, it might

584
00:30:18,040 --> 00:30:20,640
Speaker 1: be a dip if I guess the broader market or

585
00:30:20,680 --> 00:30:22,560
Speaker 1: the sector is down. So like if you've got a

586
00:30:22,600 --> 00:30:24,360
Speaker 1: tech stock, and you're worried about it, Like, look at

587
00:30:24,400 --> 00:30:27,400
Speaker 1: the tech sector, is that down in general? Right? There's

588
00:30:27,520 --> 00:30:31,360
Speaker 1: no major company specific drama in the headlines. So remember

589
00:30:31,360 --> 00:30:33,320
Speaker 1: when After Pay was going through all of that, like

590
00:30:33,360 --> 00:30:35,360
Speaker 1: it was all in the media, made sense that it

591
00:30:35,440 --> 00:30:39,520
Speaker 1: might be down. The business still seems strong overall, So

592
00:30:39,560 --> 00:30:42,440
Speaker 1: if they still have like solid leadership or decent revenue

593
00:30:42,560 --> 00:30:45,400
Speaker 1: or product people are still using, it's probably just part

594
00:30:45,400 --> 00:30:47,800
Speaker 1: of the dip. Or if it has a history of

595
00:30:47,840 --> 00:30:50,840
Speaker 1: bouncing back from past volatility, I would say that it's

596
00:30:50,880 --> 00:30:53,200
Speaker 1: just part of the dip, but it might be more

597
00:30:53,280 --> 00:30:56,040
Speaker 1: dramatic or like something that's maybe not a good investment,

598
00:30:56,400 --> 00:30:59,240
Speaker 1: if it's like falling real hard when the rest of

599
00:30:59,280 --> 00:31:02,719
Speaker 1: the market is not falling, or if there's like lots

600
00:31:02,760 --> 00:31:06,280
Speaker 1: of media about it and every man in his dog

601
00:31:06,360 --> 00:31:08,640
Speaker 1: has an opinion on them, like there's profit warnings or

602
00:31:08,640 --> 00:31:11,880
Speaker 1: there's a big scandal, or like the executives are walking out,

603
00:31:12,160 --> 00:31:15,640
Speaker 1: or it's part of a trend, so like maybe it's

604
00:31:15,680 --> 00:31:18,520
Speaker 1: been sliding for a little while and this is just

605
00:31:18,600 --> 00:31:21,960
Speaker 1: speeding it up, or it was driven more by hype

606
00:31:22,440 --> 00:31:25,360
Speaker 1: than fundamentals. So we see this a lot in bitcoin

607
00:31:25,440 --> 00:31:29,040
Speaker 1: and cryptocurrencies, where people got so excited and bought heaps

608
00:31:29,040 --> 00:31:32,000
Speaker 1: of it, but it wasn't actually a valuable asset. It

609
00:31:32,120 --> 00:31:34,719
Speaker 1: was just more expensive because of the hype around it.

610
00:31:34,760 --> 00:31:36,920
Speaker 1: And now people have gotten board of it and they're like, oh,

611
00:31:36,960 --> 00:31:39,960
Speaker 1: this isn't actually all it piped out to be, right,

612
00:31:40,000 --> 00:31:43,800
Speaker 1: So that's probably what I would be thinking.

613
00:31:43,960 --> 00:31:47,760
Speaker 3: Okay, okay, So what if I'm like I just don't

614
00:31:47,800 --> 00:31:50,760
Speaker 3: have the brain for deep diving into company reports, Like

615
00:31:50,760 --> 00:31:53,040
Speaker 3: I'm not a finance because you've hired me to be

616
00:31:53,120 --> 00:31:55,960
Speaker 3: your analysts, right, yeah, but how am I supposed to

617
00:31:56,040 --> 00:31:57,200
Speaker 3: keep up with all of it? If you can listen

618
00:31:57,240 --> 00:31:58,680
Speaker 3: to my podcast, I can just move in with you,

619
00:31:59,160 --> 00:32:01,080
Speaker 3: do you want to. I've got a spare room.

620
00:32:01,080 --> 00:32:06,280
Speaker 1: Your podcast, You got a podcast? No? No, But I'm

621
00:32:06,400 --> 00:32:09,520
Speaker 1: a full finance nerd, right. I went to the budget

622
00:32:09,600 --> 00:32:12,520
Speaker 1: last week, and I don't think I've ever found Golds

623
00:32:12,640 --> 00:32:15,600
Speaker 1: so hard about saying the Minister for Finance and Women

624
00:32:15,760 --> 00:32:18,480
Speaker 1: do be for God's work. Well, I don't know if

625
00:32:18,480 --> 00:32:21,800
Speaker 1: it's God's work, but it's definitely some nerdy work. But like,

626
00:32:22,000 --> 00:32:24,320
Speaker 1: I don't even have time for that at this point.

627
00:32:24,360 --> 00:32:27,640
Speaker 1: And that's why personally, most of my investing portfolio is

628
00:32:27,680 --> 00:32:31,560
Speaker 1: made up of ETFs. When you invest in an ETF,

629
00:32:31,600 --> 00:32:33,480
Speaker 1: and this isn't a recommendation, this is just like my

630
00:32:33,640 --> 00:32:37,520
Speaker 1: investment strategy. You're essentially buying like a tiny slice of

631
00:32:37,560 --> 00:32:41,240
Speaker 1: a really big basket of companies and assets. And behind

632
00:32:41,280 --> 00:32:45,520
Speaker 1: that basket is a team of very intelligent professionals who

633
00:32:45,520 --> 00:32:47,560
Speaker 1: are watching it like hawks. And I kind of like

634
00:32:47,680 --> 00:32:50,880
Speaker 1: the idea of that, because I used to be someone

635
00:32:51,000 --> 00:32:54,000
Speaker 1: who had a maximum of I think at one point

636
00:32:54,000 --> 00:32:58,200
Speaker 1: I had twelve different individual shares and I was checking

637
00:32:58,200 --> 00:33:02,480
Speaker 1: that every week and revaluing things and rebalancing and you know,

638
00:33:02,600 --> 00:33:05,600
Speaker 1: making lots of changes and tweaks and having to deep

639
00:33:05,640 --> 00:33:08,520
Speaker 1: dive on every single individual company. I just don't have

640
00:33:08,560 --> 00:33:11,680
Speaker 1: time for that. Like, the performance on an ETF was

641
00:33:11,760 --> 00:33:14,880
Speaker 1: literally comparable, if not better, and I was like, I'm

642
00:33:14,920 --> 00:33:16,840
Speaker 1: just trying to be a fancy here. I'm going to

643
00:33:16,880 --> 00:33:19,720
Speaker 1: go back to ETFs. I still play with individual shares

644
00:33:20,000 --> 00:33:23,080
Speaker 1: because I love the idea of a company that I

645
00:33:23,120 --> 00:33:25,400
Speaker 1: believe in, and like, I do want a deep dive

646
00:33:25,880 --> 00:33:28,840
Speaker 1: into your annual reports. I do want to read your

647
00:33:28,880 --> 00:33:32,680
Speaker 1: CEO report, like, but more on an interest level than

648
00:33:33,000 --> 00:33:35,680
Speaker 1: my future wealth is dependent on this level so I

649
00:33:35,680 --> 00:33:38,200
Speaker 1: think you know, at the end of the day, if

650
00:33:38,200 --> 00:33:41,720
Speaker 1: a stock within an ETF starts slipping, somebody else is

651
00:33:41,760 --> 00:33:45,240
Speaker 1: like checking in on it. And if it's not part

652
00:33:45,240 --> 00:33:48,320
Speaker 1: of a wider dip, a fund manager is literally going

653
00:33:48,360 --> 00:33:50,880
Speaker 1: to go in and evaluate if that share needs to

654
00:33:50,880 --> 00:33:52,960
Speaker 1: get kicked out of your portfolio or not. And they're

655
00:33:52,960 --> 00:33:54,680
Speaker 1: going to do it for you. You don't have to

656
00:33:54,760 --> 00:33:57,080
Speaker 1: lift a finger. And I like, if you buy an

657
00:33:57,120 --> 00:33:59,360
Speaker 1: ETF and then it has a crappy share in it,

658
00:33:59,480 --> 00:34:01,240
Speaker 1: they're going to get rid of it beck and replace

659
00:34:01,280 --> 00:34:03,239
Speaker 1: it with something that does perform. And I love that

660
00:34:03,320 --> 00:34:06,160
Speaker 1: for me. Yeah, okay, So I like having a team

661
00:34:06,160 --> 00:34:08,759
Speaker 1: of money nerds doing the work for you. Yeah, that's

662
00:34:08,840 --> 00:34:12,160
Speaker 1: really sweet. And even this money nerd has that in place. Well,

663
00:34:12,160 --> 00:34:14,840
Speaker 1: every money nerd needs the money nerd exactly, so I

664
00:34:14,880 --> 00:34:17,520
Speaker 1: don't have to obsess over every company in my atmory,

665
00:34:17,600 --> 00:34:20,400
Speaker 1: that's not your responsibility. If you're buying an ETF, it

666
00:34:20,480 --> 00:34:22,919
Speaker 1: is no longer your responsibility, And like that's the whole point.

667
00:34:22,960 --> 00:34:25,920
Speaker 1: You're not expected to be a stock picker at that point.

668
00:34:26,040 --> 00:34:29,799
Speaker 1: You're leveraging the expertise of these fund managers who are

669
00:34:29,880 --> 00:34:33,120
Speaker 1: working like dogs behind the scene because they always, like

670
00:34:33,360 --> 00:34:36,759
Speaker 1: fund managers are inherently competitive. I've never met a fund

671
00:34:36,800 --> 00:34:40,240
Speaker 1: manager who is not deeply in competition with every single

672
00:34:40,280 --> 00:34:43,560
Speaker 1: other fund manager on LinkedIn. Yeah, like they want to

673
00:34:43,600 --> 00:34:46,280
Speaker 1: be the best fund manager ever, So they're always looking

674
00:34:46,320 --> 00:34:49,760
Speaker 1: at other ETFs and trying to outperform those and looking

675
00:34:49,760 --> 00:34:52,920
Speaker 1: at what their strategy like their nerds. I love it. Yeah,

676
00:34:52,960 --> 00:34:55,320
Speaker 1: I don't have the capacity for that. Taking my money,

677
00:34:55,360 --> 00:34:57,359
Speaker 1: please manage it. It's like having a team of money

678
00:34:57,440 --> 00:34:59,680
Speaker 1: nerds who are like doing the work for you. And

679
00:34:59,719 --> 00:35:02,239
Speaker 1: of course I think it's always good to understand what

680
00:35:02,280 --> 00:35:05,520
Speaker 1: you're investing in. But the beauty of ETFs is that

681
00:35:05,960 --> 00:35:09,240
Speaker 1: they can help you stay diversified and take some pressure

682
00:35:09,280 --> 00:35:12,840
Speaker 1: off managing every single detail yourself. God, that's good. I

683
00:35:12,880 --> 00:35:15,520
Speaker 1: want to go out for my oatla Tebek. Yeah, for sure.

684
00:35:15,920 --> 00:35:18,480
Speaker 3: And you don't have time if you're managing your own

685
00:35:18,520 --> 00:35:19,560
Speaker 3: funt exactly.

686
00:35:19,760 --> 00:35:23,360
Speaker 1: So I guess everyone just chill. We feel better, Okay,

687
00:35:23,560 --> 00:35:25,719
Speaker 1: we feel better about this. I don't know. I do

688
00:35:25,760 --> 00:35:26,560
Speaker 1: feel a lot better.

689
00:35:26,800 --> 00:35:28,680
Speaker 3: I feel a lot better, but I guess I like, well,

690
00:35:28,719 --> 00:35:31,640
Speaker 3: this entire podcast was for you, so yeah, and it's fine.

691
00:35:31,680 --> 00:35:35,279
Speaker 1: It doesn't actually matter that it doesn't. I do feel better.

692
00:35:35,320 --> 00:35:35,520
Speaker 3: Thank you.

693
00:35:35,600 --> 00:35:38,600
Speaker 1: V Well. I think we'll wrap there then, because honestly

694
00:35:38,800 --> 00:35:41,160
Speaker 1: I need another coffee. But if you still want to

695
00:35:41,200 --> 00:35:44,120
Speaker 1: know more about why I believe you shouldn't panic about

696
00:35:44,120 --> 00:35:47,279
Speaker 1: the markets, we did actually do another episode a couple

697
00:35:47,320 --> 00:35:48,880
Speaker 1: of weeks ago, and I'm going to link that in

698
00:35:48,920 --> 00:35:50,880
Speaker 1: the show notes if you don't want to click the link.

699
00:35:51,080 --> 00:35:53,440
Speaker 1: It was called Everyone's Panicking about the Market b Here

700
00:35:53,480 --> 00:35:55,520
Speaker 1: is why I am not. And it's a really good

701
00:35:55,600 --> 00:35:58,000
Speaker 1: one to come back to when the headlines are just

702
00:35:58,040 --> 00:36:01,279
Speaker 1: getting a little bit loud. We all get anxious. We

703
00:36:01,320 --> 00:36:04,680
Speaker 1: are deeply emotional as human beings, and you know what,

704
00:36:04,760 --> 00:36:07,359
Speaker 1: that can be a value, just not when it comes

705
00:36:07,400 --> 00:36:10,960
Speaker 1: to our share PORTFOLIOO. And if this episode Beck has

706
00:36:11,000 --> 00:36:13,879
Speaker 1: helped you feel a little bit calmer about everything that's

707
00:36:13,920 --> 00:36:15,880
Speaker 1: going on, I want you to send it to a

708
00:36:15,880 --> 00:36:18,640
Speaker 1: friend who's currently freaking out about their portfolio right now.

709
00:36:18,760 --> 00:36:20,640
Speaker 1: And you know what, every single one of us who

710
00:36:20,680 --> 00:36:24,319
Speaker 1: is employed in Australia has a superannuation fund. You all

711
00:36:24,360 --> 00:36:27,399
Speaker 1: have portfolios. You all need to be caring about that,

712
00:36:27,800 --> 00:36:29,839
Speaker 1: and we need a friend to tell us don't hit

713
00:36:29,840 --> 00:36:32,560
Speaker 1: the panic button, girlfriend, do not change your risk profile

714
00:36:32,800 --> 00:36:35,919
Speaker 1: just because you're worried. Yes, anyway, I'm done here.

715
00:36:36,120 --> 00:36:38,920
Speaker 3: Great Core VD, and don't forget to like and subscribe

716
00:36:38,960 --> 00:36:40,759
Speaker 3: while you're here. It really helps us keep bringing these

717
00:36:40,800 --> 00:36:42,600
Speaker 3: episodes to you so you can understand what's going on

718
00:36:42,640 --> 00:36:45,360
Speaker 3: in the world and stay on track with your investing journey. Baby,

719
00:36:45,400 --> 00:36:47,799
Speaker 3: I've got your back, and we will see you for

720
00:36:48,040 --> 00:36:50,960
Speaker 3: a little lighter of an episode on Friday.

721
00:36:51,239 --> 00:36:59,919
Speaker 1: You'll see you, hi, guys. Did by shared on Cheese

722
00:37:00,080 --> 00:37:02,239
Speaker 1: on the Money is general in nature and does not

723
00:37:02,400 --> 00:37:06,640
Speaker 1: consider your individual circumstances. She's on the Money exists purely

724
00:37:06,680 --> 00:37:09,600
Speaker 1: for educational purposes and should not be relied upon to

725
00:37:09,640 --> 00:37:13,000
Speaker 1: make an investment or financial decision. If you do choose

726
00:37:13,000 --> 00:37:15,960
Speaker 1: to buy a financial product, read the PDS TMD and

727
00:37:16,040 --> 00:37:20,600
Speaker 1: obtain appropriate financial advice tailored towards your needs. Victoria Divine

728
00:37:20,680 --> 00:37:24,080
Speaker 1: and She's on the Money are authorized representatives of Money

729
00:37:24,080 --> 00:37:28,359
Speaker 1: Shoper Pty Ltd ABN three two one six four nine

730
00:37:28,480 --> 00:37:32,359
Speaker 1: two seven seven zero eight AFSL four five one two

731
00:37:32,440 --> 00:37:38,840
Speaker 1: eight nine