Latest / Best of Business / Martin Hawes: The impact of Trump's win on NZ markets

Transcript

Martin Hawes: The impact of Trump's win on NZ markets · Best of Business

• 0:09
  Speaker 1: You're listening to a podcast from News Talk sed be
• 0:12
  Speaker 1: follow this and our wide range of podcasts now on
• 0:15
  Speaker 1: iHeartRadio The Best Things in Life bar free.
• 0:22
  Speaker 2: You can give it to the birds and bees. I
• 0:25
  Speaker 2: want money.
• 0:39
  Speaker 1: Da all alone. Yeah, so welcome back to the Weekend
• 0:43
  Speaker 1: Collective on Tim Beverage. And by the way, if've must
• 0:45
  Speaker 1: even of our previous house, we just had a chat
• 0:47
  Speaker 1: with Kent Johns from Kent John's Health around just avoiding
• 0:51
  Speaker 1: interview burnout and also a bit of a chat about
• 0:53
  Speaker 1: diabetes given at Starbetes Action Month. But the politics as
• 0:56
  Speaker 1: well on Politics Central from three o'clock was I had
• 0:59
  Speaker 1: a couple of really interesting interviews actually Marco Rubio's former
• 1:03
  Speaker 1: chief of staff staff Matt Terrell talking about the just
• 1:07
  Speaker 1: the trumpetmanstration, the landslide went and what we can look
• 1:10
  Speaker 1: forward to, and we carried on that theme when we
• 1:12
  Speaker 1: had a chat with Marris Williamson as well, who was
• 1:14
  Speaker 1: the console former Consule General to Los Angeles in Los
• 1:19
  Speaker 1: Angeles and just had his take on it as well.
• 1:21
  Speaker 1: So if you missed any of that then you can
• 1:23
  Speaker 1: go and check out the Weekend Collective podcast wherever you podcast,
• 1:26
  Speaker 1: but go to iHeartRadio anyway, right now it is time
• 1:30
  Speaker 1: for smart money. We want your calls eight hundred eighty
• 1:33
  Speaker 1: ten eighty text nine two nine two. And my guest,
• 1:37
  Speaker 1: he's a regular on the Show's a finance writer and
• 1:40
  Speaker 1: his name is He's written a bunch of box as well.
• 1:42
  Speaker 1: Martin Hawes Today.
• 1:44
  Speaker 2: Yeah, Hi there, Tom, how are you?
• 1:45
  Speaker 3: I'm not too bad? How have you been?
• 1:47
  Speaker 2: Good? Good? Really good? Thank you? Very very interesting. Interested
• 1:52
  Speaker 2: in everything that's going on in the world at the moment,
• 1:55
  Speaker 2: and Trump is sort of the gift that keeps on giving. Yeah,
• 1:58
  Speaker 2: Juno's and people like that must be the life of
• 2:01
  Speaker 2: They would never sit around sucking their pencils to write
• 2:05
  Speaker 2: about I guess.
• 2:07
  Speaker 1: So although what came out of the politics, there is
• 2:10
  Speaker 1: a lot of people are a little bit more well,
• 2:13
  Speaker 1: you know, the people who be very activated about it.
• 2:15
  Speaker 1: And there's going to be obviously with American politics, so
• 2:18
  Speaker 1: there's always a story there. But I'm fairly sanguine about it.
• 2:21
  Speaker 3: In a way.
• 2:22
  Speaker 1: I'm feeling really not as not as hit up as
• 2:26
  Speaker 1: I thought I might be, because you know, we've been there,
• 2:29
  Speaker 1: done that, He's been there, done that, and the question
• 2:32
  Speaker 1: is we can just have more rational discussions about what
• 2:34
  Speaker 1: does it mean and do you have an interest You
• 2:37
  Speaker 1: would have an interest in that in terms of what
• 2:38
  Speaker 1: a Trump administration means for money, wouldn't you?
• 2:42
  Speaker 2: Yes, I certainly do with that. But I've followed politics
• 2:46
  Speaker 2: with interest since i was sixteen years old, and that
• 2:48
  Speaker 2: was a long time ago. So I'm you know, I'm
• 2:51
  Speaker 2: really interested. I'm almost podcasted out at the moment. I
• 2:56
  Speaker 2: get a lot of podcasts from all around the world
• 2:58
  Speaker 2: and I'm listen listening to them. But the thing that
• 3:01
  Speaker 2: I would say about Trump is that it is just
• 3:03
  Speaker 2: so hard to know what he's going to He is
• 3:08
  Speaker 2: so mercurial that, you know, we just we just can't
• 3:12
  Speaker 2: can't guess what it is. The other thing is that
• 3:16
  Speaker 2: this election, and I think probably all American elections are
• 3:19
  Speaker 2: fought on sort of big ideas without ever getting into
• 3:23
  Speaker 2: the detail of policy. So here in New Zealand, you know,
• 3:28
  Speaker 2: we have an election and somebody says we're going to
• 3:30
  Speaker 2: do a and people will say, well is that cost it?
• 3:34
  Speaker 2: And it needs to be costed with an inch of
• 3:36
  Speaker 2: its life. In America, they just talk about big ideas.
• 3:39
  Speaker 2: You know, Trump says We're going going to lower tax Well,
• 3:43
  Speaker 2: what tax taxes are you going to lower. He doesn't
• 3:46
  Speaker 2: bother with that sort of detail. Neither did Harris, you know,
• 3:50
  Speaker 2: to be to be fair, they just sort of they
• 3:53
  Speaker 2: just sort of It's kind of a popularity got contest almost.
• 3:57
  Speaker 3: Is it actually is, isn't it?
• 3:58
  Speaker 1: And look, in hindsight now I think that they focus
• 4:01
  Speaker 1: that Democrats focused way too much on identity politics. You're
• 4:04
  Speaker 1: a woman, therefore she had vote. You should vote for me.
• 4:06
  Speaker 1: You're you know, you're black, you should vote for me.
• 4:08
  Speaker 1: You were aspanic, you should.
• 4:09
  Speaker 3: Vote for me.
• 4:10
  Speaker 1: Weren't In fact, yeah, that probably missed them obviously missed
• 4:13
  Speaker 1: the mark because it was a landslide.
• 4:15
  Speaker 3: Did you see it coming?
• 4:18
  Speaker 2: No? But I didn't see anything coming, So I wasn't
• 4:22
  Speaker 2: totally wrong or totally right. I couldn't. I just thought
• 4:27
  Speaker 2: it could go anyway.
• 4:28
  Speaker 1: So what sort of podcasts have you been? Do you
• 4:30
  Speaker 1: download podcasts from the point of view of politics or
• 4:33
  Speaker 1: do they have a sort of financial business share market
• 4:37
  Speaker 1: currency slant to them?
• 4:40
  Speaker 2: A bit of both, but more politics, like BBC New
• 4:44
  Speaker 2: York Times, various other ones which are really about politics.
• 4:51
  Speaker 2: But you know, one of the things that as an
• 4:53
  Speaker 2: investor that we always have to keep eye on is
• 4:56
  Speaker 2: politics and in particular geopolitics. And I don't think i've
• 5:00
  Speaker 2: ever in my fifty or getting close to sixty fifty
• 5:04
  Speaker 2: or sixty years of following this, I don't think I've
• 5:08
  Speaker 2: ever seen a more dangerous time in geo politics than
• 5:12
  Speaker 2: what we have at the moment. And of course Trump
• 5:14
  Speaker 2: because we don't know what he's going to do, you know,
• 5:18
  Speaker 2: and so vague that it's even more dangerous because we
• 5:23
  Speaker 2: just don't know how the cards are going to fall. Yeah,
• 5:27
  Speaker 2: and the other thing I sort of can't. I couldn't
• 5:31
  Speaker 2: believe I heard this, but you know, Elon Musk was
• 5:35
  Speaker 2: in on the and on the conversation and on the
• 5:38
  Speaker 2: call between Trump and Zelensky, who, yeah, well you know
• 5:44
  Speaker 2: what's going on here now. You know, he's obviously bought
• 5:48
  Speaker 2: Elon Muskin and they've done the the loving bro thing,
• 5:52
  Speaker 2: even though they said they hated each other before. But
• 5:57
  Speaker 2: you know, Trump is just so he's not tied to
• 6:01
  Speaker 2: institutions and he's not tied to rules, and he'll be
• 6:06
  Speaker 2: he can and he does do yes.
• 6:10
  Speaker 1: I don't know how I'd missed that one, but that ye,
• 6:13
  Speaker 1: Elon Musk ended up on a call with Vladimi's Donald
• 6:16
  Speaker 1: Trump that yes, that does make me a little nervous
• 6:20
  Speaker 1: because it just feels about feels a bit random, doesn't it.
• 6:24
  Speaker 2: Yes, well, they were arguing a couple of days ago
• 6:27
  Speaker 2: about what levels of security clearance that they were going
• 6:31
  Speaker 2: to need, and of course Trump was saying, well, you know,
• 6:34
  Speaker 2: we don't need the FBI to get involved, and this
• 6:36
  Speaker 2: was any of my good mates are fine.
• 6:40
  Speaker 1: Okay, it does sound that learns a little groundhog Day
• 6:44
  Speaker 1: for me. Now that's but random, So go I'm sorry.
• 6:49
  Speaker 2: Yeah, yeah, I was just going to say, it's the
• 6:51
  Speaker 2: whole thing is very awkward. We we just don't know
• 6:54
  Speaker 2: what's what's going to happen if he did, for example,
• 6:57
  Speaker 2: bring his towerff Son as stated, you know, ten to
• 7:01
  Speaker 2: twenty percent for everyone. It doesn't matter whether you're an
• 7:04
  Speaker 2: ally or a friend or indeed an enemy, you're going
• 7:07
  Speaker 2: to have at least ten to twenty percent and a
• 7:09
  Speaker 2: sixty percent on any tariffs from Chinese goods. So that,
• 7:14
  Speaker 2: I mean, that's got major economicification ramifications.
• 7:22
  Speaker 1: They think, do you think that those well, as you
• 7:24
  Speaker 1: even just said, and it's not the first time I've
• 7:27
  Speaker 1: seen that stat. Ten to twenty percent on all goods
• 7:29
  Speaker 1: from overseas countries, is what he's talked about. But there's
• 7:32
  Speaker 1: a big difference between ten percent and twenty percent, and
• 7:35
  Speaker 1: there are tariffs in place already. And of course, if
• 7:38
  Speaker 1: you're an EV manufacturer in China, you're paying one hundred
• 7:40
  Speaker 1: percent tariff already on EV's even under the Biden administration.
• 7:44
  Speaker 3: Yeah, it's I mean, yeah, so.
• 7:51
  Speaker 2: What tim You're almost speechless?
• 7:53
  Speaker 1: Well, I sort of am, just because because I don't
• 7:58
  Speaker 1: We just don't know, do we. But also in terms
• 8:01
  Speaker 1: of the context of is that threat, is it as
• 8:05
  Speaker 1: dramatics as it sounds, or just in terms of New
• 8:08
  Speaker 1: Zealand exporters, are we facing tariff's already? And to be honest, look,
• 8:12
  Speaker 1: you know we're already paying ten percent or does it
• 8:14
  Speaker 1: mean it's going to get worse?
• 8:15
  Speaker 3: I mean, we just don't know, do we.
• 8:17
  Speaker 2: No, No, we don't know. The other two big things,
• 8:20
  Speaker 2: and this is important for your money, for your KII
• 8:23
  Speaker 2: saver or for those who are investing, is the two
• 8:26
  Speaker 2: things that he has promised is deregulation and tax cuts.
• 8:30
  Speaker 2: Now to look yet again there's no detail on us.
• 8:35
  Speaker 2: But that's why since Trump will become president elect, that's
• 8:39
  Speaker 2: why the sheer market in the US at least has
• 8:42
  Speaker 2: gone off on a tier, so shares of rivers and sharp.
• 8:46
  Speaker 2: On Friday night, they came off a little a little bit,
• 8:49
  Speaker 2: but you know, very sharp rises. And if you think
• 8:53
  Speaker 2: of this strong a party point of view, the Republicans
• 8:56
  Speaker 2: are supposedly the business friendly party, and it looks like
• 9:02
  Speaker 2: the Republicans could have a clean sweep. So tax cuts
• 9:05
  Speaker 2: and deregulation, whatever tax cuts are are on whatever deregulation
• 9:09
  Speaker 2: is very very likely.
• 9:13
  Speaker 1: Because tax cuts can be inflationary, can't they Because it's
• 9:18
  Speaker 1: and here are going to sounds like he is going.
• 9:20
  Speaker 3: To borrow a lot more. Yes, what are your thoughts
• 9:23
  Speaker 3: on that?
• 9:25
  Speaker 2: I think he'll he'll probably have to, but you know,
• 9:28
  Speaker 2: one of the things you've got to sit back and ask.
• 9:30
  Speaker 2: So they're going to be tax cuts that increases corporate profitability,
• 9:35
  Speaker 2: So the companies that are listed on the share markets
• 9:38
  Speaker 2: should have more profitability. Therefore share prices should be higher.
• 9:42
  Speaker 2: And deregulation cuts costs and allows people into various markets
• 9:47
  Speaker 2: much more easily, and therefore companies tend will tend to
• 9:52
  Speaker 2: make a lot more profit. And that's why the shares
• 9:56
  Speaker 2: have gone up so much in the last two or
• 9:57
  Speaker 2: three days, and in my view, it's while they'll probably
• 10:00
  Speaker 2: continue to go.
• 10:03
  Speaker 1: That's yeah, because I was wondering if you know, just
• 10:06
  Speaker 1: the fact of the election win sort of spikes the
• 10:11
  Speaker 1: share market a bit, but whether that that's it sort
• 10:13
  Speaker 1: of gets priced in already, but you think it's just
• 10:15
  Speaker 1: going to continue to go up.
• 10:17
  Speaker 2: I think Grump's victory has taken the share market a
• 10:20
  Speaker 2: bit by surprise, and I think it's pushed it up.
• 10:25
  Speaker 2: It'll be easier if there is the regulation, it'll be
• 10:29
  Speaker 2: easier to do business in the US. Presumably it'll be
• 10:32
  Speaker 2: more profitable. It's the US. US businesses are already fabulous
• 10:41
  Speaker 2: money making machines. They will become even more so. And
• 10:46
  Speaker 2: you know, I looked at my portfolio before I came
• 10:50
  Speaker 2: on here. I don't manage it but anymore. But I
• 10:54
  Speaker 2: have ten percent in the New Zealand share market. I
• 10:57
  Speaker 2: have about twenty five percent in the US market.
• 11:00
  Speaker 3: Yeah, and what happened to that? So I can get on.
• 11:05
  Speaker 2: It's still extremely well what your your keyp We say
• 11:07
  Speaker 2: that Tim will be will be similarly invested. That mine's
• 11:11
  Speaker 2: not terribly radical, really, but all these companies like you know, well,
• 11:15
  Speaker 2: the magnificence even and particularly Microsoft, Apple and Video, Amazon
• 11:19
  Speaker 2: and so forth. All of these are going to do
• 11:22
  Speaker 2: extremely well. I think over the overcoming a year or
• 11:26
  Speaker 2: two or three or four.
• 11:27
  Speaker 1: How much of it gets how much of that price
• 11:31
  Speaker 1: bump happens sort of instantly, it gets priced in because
• 11:36
  Speaker 1: people are expecting an anticipation. In other words, has has
• 11:42
  Speaker 1: the bump that's happened to a lot of those stocks.
• 11:46
  Speaker 3: I mean, how much should you.
• 11:48
  Speaker 1: Be aware of the fact that they might get ahead
• 11:50
  Speaker 1: of themselves in terms of their genuine value as opposed
• 11:52
  Speaker 1: to the notion that Trump's and this is good for
• 11:55
  Speaker 1: the company, we must be worth more. But actually the
• 11:58
  Speaker 1: fundamentals might eventually go well, not as much as you thought.
• 12:02
  Speaker 2: Yeah, it's a really good question, and you'll have to
• 12:04
  Speaker 2: give me a moment to fire up my crystal ball
• 12:07
  Speaker 2: and have lock and see what's going to happen. I
• 12:10
  Speaker 2: think this is more than a short term bump, you know.
• 12:14
  Speaker 2: I think that this is you know that the tax
• 12:16
  Speaker 2: cuts may be one off or maybe a couple of them,
• 12:19
  Speaker 2: who knows, But deregulation, it seems to me to be
• 12:23
  Speaker 2: much more systemic. And you know, I think the Republicans,
• 12:30
  Speaker 2: if the Republicans control presidents in the House and in
• 12:34
  Speaker 2: the Senate. You know, I think you'll find it a
• 12:37
  Speaker 2: lot easier to do business. I think cases will be
• 12:39
  Speaker 2: more profitable.
• 12:40
  Speaker 3: Okay, do you like that?
• 12:43
  Speaker 2: Well, I like businesses to be profitable. But you know,
• 12:46
  Speaker 2: if if that's at the cost of deregulation, which makes workplaces,
• 12:51
  Speaker 2: for example, somewhat unsafe, then I don't like it. It depends.
• 12:56
  Speaker 2: It just depends what it is. I guess.
• 12:59
  Speaker 1: Well, actually, of course it depends because business covers just
• 13:02
  Speaker 1: a multitude of products and services and industries and things,
• 13:06
  Speaker 1: doesn't It's difficult to sort of sum it up if
• 13:09
  Speaker 1: you okay, well, it's just we're going to throw it
• 13:11
  Speaker 1: out by the way for you to give us call
• 13:13
  Speaker 1: on the Trump presidency. Does is it something that's going
• 13:18
  Speaker 1: to entract attract your investment dollar in any particular form
• 13:22
  Speaker 1: regarding the sheer market or industry and where you're going
• 13:25
  Speaker 1: to put your money. What do you think it's going
• 13:26
  Speaker 1: to do for for investment generally? Because Martin is there
• 13:32
  Speaker 1: are particular are there particular industries that sort of well,
• 13:36
  Speaker 1: I'm assuming you're fired your crystal ball up, but are
• 13:39
  Speaker 1: there particular industries that might benefit more than others as
• 13:44
  Speaker 1: a result of the deregulation.
• 13:47
  Speaker 2: I think the batteries must be flat on the crystal ball,
• 13:52
  Speaker 2: because I would assume tech is the big one. Yes,
• 13:56
  Speaker 2: and that's a big one anyway, isn't it. Yep, tech
• 13:58
  Speaker 2: and all that stuff and forms one of the areas
• 14:00
  Speaker 2: of tech. I really like the so called clean tech,
• 14:03
  Speaker 2: which is technology designed to make the we're all a
• 14:09
  Speaker 2: cleaner place, have better environments, have less carbon in the atmosphere,
• 14:13
  Speaker 2: and so forth. I don't think that that area is
• 14:17
  Speaker 2: going to be so good under I mean, he's he's
• 14:20
  Speaker 2: still a he's still a climate change DENI you know,
• 14:25
  Speaker 2: listen to several podcasts that talk significantly about that. But
• 14:32
  Speaker 2: if you come to other tech, if you come to
• 14:33
  Speaker 2: AI and particularly but also biotechnology, and one little area
• 14:40
  Speaker 2: that I particularly like is medical devices. So it's all
• 14:46
  Speaker 2: the various things that help make us get well. And
• 14:49
  Speaker 2: you know, there's a never ending demand with the baby
• 14:53
  Speaker 2: boomer generation getting older and so forth, a never ending
• 14:56
  Speaker 2: demand for better and better health care.
• 14:59
  Speaker 3: That's an interesting one, isn't it.
• 15:01
  Speaker 1: Okay, Look, we want to take a break and we'll
• 15:03
  Speaker 1: be back in just a moment, but we want to
• 15:05
  Speaker 1: know what your thoughts are regarding a Trump presidentdency and
• 15:08
  Speaker 1: what it means for where you might want to put
• 15:11
  Speaker 1: your money, and doesn't mean that suddenly the US share
• 15:16
  Speaker 1: market with the US businesses is the place where you
• 15:18
  Speaker 1: want to put it. I eight one hundred eighty ten
• 15:20
  Speaker 1: to eighty text nine nine two. My guest is Martin
• 15:23
  Speaker 1: Horsey's a financial writer, and it will be back in
• 15:26
  Speaker 1: just a moment. It's twenty two minutes past five. Are
• 15:28
  Speaker 1: you worried about funding a comfortable retirement?
• 15:31
  Speaker 3: Well, you're not alone.
• 15:32
  Speaker 1: The cost of living crisis is heading home for a
• 15:34
  Speaker 1: lot of people, so it's no surprise that people are
• 15:36
  Speaker 1: looking for ways to make the most of their savings
• 15:38
  Speaker 1: and get a little bit more income to supplement their
• 15:41
  Speaker 1: New Zealand super. One interesting solution is to invest in
• 15:44
  Speaker 1: an income fund like the Harbor Income Fund. It works
• 15:47
  Speaker 1: by holding a mix of interest paying securities and shares
• 15:50
  Speaker 1: that have been designed to generate a steady and sustainable
• 15:53
  Speaker 1: income no matter the market. The Harbor Income Fund is
• 15:56
  Speaker 1: actively managed and currently it pays a distribution of five
• 15:59
  Speaker 1: point two five percent per annum after fees and taxes
• 16:03
  Speaker 1: paid out in monthly installments. To find out more about
• 16:06
  Speaker 1: Harbor's Income fund. Just head to their web site or
• 16:09
  Speaker 1: speak with your financial advisor. Is not intended as personalized advice.
• 16:13
  Speaker 1: The product disclosure Statement for Harbor Investment Funds issued by
• 16:17
  Speaker 1: Harbor Asset Management is available at Harbor Asset dot co
• 16:22
  Speaker 1: dot nz.
• 16:23
  Speaker 4: Helping you get on top of your busy life.
• 16:26
  Speaker 1: Tim Beveridge on the Weekend Collective News Talk s B Yes,
• 16:30
  Speaker 1: and we are with Martinhores, a financial author and writer
• 16:34
  Speaker 1: of no matter how many books is it?
• 16:35
  Speaker 2: Martin at twenty twenty four?
• 16:39
  Speaker 3: How on have you?
• 16:40
  Speaker 2: Have?
• 16:40
  Speaker 3: You released another one?
• 16:41
  Speaker 2: And you're still working on there's another one, and I
• 16:44
  Speaker 2: think we might talk about it last time I was
• 16:46
  Speaker 2: on the air. I've sent the manuscript off for another one,
• 16:50
  Speaker 2: and the publisher publishers doing all the things that it does,
• 16:54
  Speaker 2: like designing a cover, on getting it punted and so forth.
• 16:56
  Speaker 2: That will come out in March, and that will be
• 16:59
  Speaker 2: number twenty four.
• 17:00
  Speaker 1: Okay, Look, we want your calls now on the on
• 17:04
  Speaker 1: the outcome of the US election. Does it affect where
• 17:06
  Speaker 1: you're going to put your money? Where is your lie?
• 17:09
  Speaker 1: Where do you think the money is going to be?
• 17:11
  Speaker 1: Your money is going to do the best Martin has
• 17:14
  Speaker 1: made the comment that the that I think, if I'm
• 17:18
  Speaker 1: not going to paraphrase you incorrectly, Martin, you can always
• 17:20
  Speaker 1: jump in if I do get wrong, that the US
• 17:22
  Speaker 1: share market is looking like it's actually going to do
• 17:24
  Speaker 1: pretty well and will continue to do quite well. But
• 17:29
  Speaker 1: my guess, my question is I always assume that once
• 17:32
  Speaker 1: someone like you has said it, Martin, that that horse
• 17:34
  Speaker 1: has bolted, and then I'll be too slow or too late.
• 17:37
  Speaker 2: Yeah. Not, that comes back to what we're talking about.
• 17:40
  Speaker 2: For not if you are a long term investa. Yes,
• 17:45
  Speaker 2: if you were a trader, and and look, I'm not
• 17:48
  Speaker 2: saying that you're you know, if you brought sheers that
• 17:51
  Speaker 2: they would simply go up on a straight line. They weren't.
• 17:54
  Speaker 2: There'll be a lot of volatile till They'll be ups
• 17:57
  Speaker 2: and downs, good times, bad times, and so forth. But
• 18:02
  Speaker 2: I think there'll be more good times than there are
• 18:04
  Speaker 2: bad times. And my guess is that if you bore
• 18:08
  Speaker 2: a basket of various technology shares and set on them
• 18:13
  Speaker 2: for ten years, you'd be very pleased that you did.
• 18:17
  Speaker 1: Yeah, that's an interesting one actually, because there have been
• 18:21
  Speaker 1: some superstar shares of course and technology and what is
• 18:23
  Speaker 1: in video They had some amazing growth.
• 18:26
  Speaker 3: How are they looking at the moment? Do you follow them?
• 18:27
  Speaker 2: Mate? Yes, so, because they're in my portfolio, and they
• 18:30
  Speaker 2: have been for a good time. They are so in
• 18:32
  Speaker 2: my portfolio portfolio. They are a so called ten bagger,
• 18:38
  Speaker 2: which means they've gone up, means that they've gone up
• 18:41
  Speaker 2: by a factor of ten, that they've multiplied, multiplied ten times.
• 18:45
  Speaker 2: And given that they still control seventy five percent of
• 18:49
  Speaker 2: the chips that are needed for AI, I don't think
• 18:56
  Speaker 2: that they a lot of the price that we built on.
• 18:59
  Speaker 2: But I think they're going to continue to do very well.
• 19:02
  Speaker 2: They are an excellent company. The chips that they design,
• 19:06
  Speaker 2: they don't make chips. This is computer so they don't
• 19:08
  Speaker 2: make them. They just design them. They have somebody else
• 19:12
  Speaker 2: make them for them. The chops that they design are
• 19:15
  Speaker 2: ahead of the pack, and their job is to keep
• 19:18
  Speaker 2: ahead of the pack. And it looks like but I'm
• 19:20
  Speaker 2: doing that fairly Saturday Factorially.
• 19:22
  Speaker 1: Right, we're going to take your calls O one hundred
• 19:24
  Speaker 1: and eighty ten eighty. Initially, our conversation is going to
• 19:27
  Speaker 1: be on what does Donald Trump's win mean for share
• 19:31
  Speaker 1: markets in particular, maybe the New Zealand markets as well,
• 19:34
  Speaker 1: I tend to think probably, I don't know what it's
• 19:37
  Speaker 1: going to do there, but we're going to let's take
• 19:38
  Speaker 1: some calls and we'll dig into that with Martin in
• 19:40
  Speaker 1: just a moment. Greg, Hello, good evening, General General.
• 19:46
  Speaker 4: I agree, Hi agree, Sorry, I'm in a bad communication. Zoney, gentlemen,
• 19:51
  Speaker 4: how are you good?
• 19:52
  Speaker 5: Good?
• 19:53
  Speaker 2: Good?
• 19:54
  Speaker 4: Just picking up on Jamie McKay's the rest of the country. Yeah,
• 20:01
  Speaker 4: the country that the red meat industry. This is a
• 20:05
  Speaker 4: little bit off topic, but the lamb and and and
• 20:09
  Speaker 4: be for the red meat exports. He has had a
• 20:11
  Speaker 4: lot of commentators in the last week talking about the
• 20:15
  Speaker 4: potential for a little bit of a silver lining. This is,
• 20:19
  Speaker 4: as I say, wee bit of off topic, but it's.
• 20:22
  Speaker 3: All about trade and money.
• 20:23
  Speaker 1: You're welcome to carry on, Yeah, where you go.
• 20:26
  Speaker 4: Yeah, absolutely. So you know he's going to go after
• 20:31
  Speaker 4: Trump that is, is going to go after the you know,
• 20:34
  Speaker 4: the illegal immigrant workers that a lot of the farmers
• 20:37
  Speaker 4: are employing, and they're going to tell the farmers to
• 20:39
  Speaker 4: pay the going rate for for for labor, et cetera.
• 20:45
  Speaker 4: So how do you how do you see agricultural exports
• 20:51
  Speaker 4: with the red meat And it's not just the burger meat,
• 20:55
  Speaker 4: which we've been sending to the US for quite some time,
• 20:58
  Speaker 4: but some of them more the premium meats, And this
• 21:02
  Speaker 4: is what Jamie has been talking about. That could be
• 21:05
  Speaker 4: particularly with a declining New Zealand dollar at the mote,
• 21:08
  Speaker 4: that could be a pretty good windful, could it not?
• 21:11
  Speaker 2: It could be Greg and I I would be hesitating
• 21:14
  Speaker 2: before I argued with Jamie mackay about agricultural stuff because
• 21:19
  Speaker 2: he knows more about it than I do. But what
• 21:22
  Speaker 2: happens if there's a ten or twenty percent on the
• 21:25
  Speaker 2: meat that's landing on the shores of the US. Now
• 21:28
  Speaker 2: they are our biggest I think the US is our
• 21:31
  Speaker 2: biggest red meat buyer. So what happens to our lamb?
• 21:38
  Speaker 2: And if that dries up? Now all very well to say, well,
• 21:44
  Speaker 2: the Americans may not be about to produce enough of
• 21:46
  Speaker 2: what if there's a ten or twenty percent tariff of
• 21:50
  Speaker 2: or not? These things? You know, pricing is usually be
• 21:53
  Speaker 2: any sensitive.
• 21:55
  Speaker 1: Yeah, what what do you think of it? What did
• 21:57
  Speaker 1: you think of it? Gregor do you do you think that's.
• 22:00
  Speaker 3: Going to be.
• 22:03
  Speaker 4: This was discussed on two cable news networks, In and
• 22:08
  Speaker 4: also Fox about that very thing, and because the American
• 22:13
  Speaker 4: farmers if they are forced to not have illegal immigrants
• 22:18
  Speaker 4: working on their farms and paying them five six seven
• 22:20
  Speaker 4: dollars now instead of fifteen sixteen, their production costs are
• 22:24
  Speaker 4: going to go up and the New Zealand exporters will
• 22:27
  Speaker 4: be able to work through maybe a tariff. The other
• 22:30
  Speaker 4: thing I would say too, I think the incumbent government
• 22:33
  Speaker 4: that we have at the moment has probably got the
• 22:37
  Speaker 4: best chance ever of shmewing Trump and maybe limiting that
• 22:44
  Speaker 4: tariff and maybe not a tariff at all, because American
• 22:48
  Speaker 4: consumers are looking for quality products.
• 22:51
  Speaker 1: Are you saying, so we've got a good chance because
• 22:53
  Speaker 1: they want our quality products?
• 22:56
  Speaker 4: Well, well exactly. I mean if you go if you
• 22:59
  Speaker 4: go back to the previous six years of government governance
• 23:03
  Speaker 4: that we had here, if Trump had been in power
• 23:07
  Speaker 4: at that time, there would not be a lot of conversation.
• 23:12
  Speaker 4: I remember just under referring to Trump as that guy
• 23:15
  Speaker 4: or the other guy, and she would never want it
• 23:17
  Speaker 4: to sit down. So is it Tim Grocer who's traveling
• 23:20
  Speaker 4: all over the world.
• 23:22
  Speaker 2: Trying to.
• 23:24
  Speaker 1: In terms of our ministers, it's Todd McLay and Winston Peters,
• 23:27
  Speaker 1: who I think pretty good at their job and Tim
• 23:29
  Speaker 1: Grocer is, Yeah, I can't remember what his rollers.
• 23:32
  Speaker 3: I guess this is.
• 23:35
  Speaker 1: This is the part of the problem.
• 23:36
  Speaker 2: Used to be that. Yeah, yeah, it is. I see
• 23:40
  Speaker 2: the problem is Greek. We just don't know, and I
• 23:45
  Speaker 2: don't know. I mean, I'm not a politician, but I
• 23:47
  Speaker 2: wouldn't back myself to go and get an appointment was
• 23:51
  Speaker 2: Trump as Prime Minister of New Zealand, but b even
• 23:54
  Speaker 2: like I got up to get him to concentrate for
• 23:56
  Speaker 2: very long about New Zealand exceptionalism. That is, everybody else
• 24:03
  Speaker 2: can have a tariff, but not us. And I think
• 24:06
  Speaker 2: every man in the dog from from European countries right
• 24:10
  Speaker 2: through to South American ones will be trying that on
• 24:14
  Speaker 2: if they do anoun say, and all of the podcasts
• 24:18
  Speaker 2: and stuff that I read suggest that Trump loves tariffs
• 24:23
  Speaker 2: and always has done.
• 24:25
  Speaker 3: Actually, it is interesting.
• 24:26
  Speaker 2: I think we'd be lucky to be making be made
• 24:29
  Speaker 2: an exceptional.
• 24:29
  Speaker 1: Yeah, Greg, it's an interesting point you raised though about
• 24:32
  Speaker 1: the cost about how everything's connected. So if he does
• 24:36
  Speaker 1: successfully crack down on illegal immigrants and farms, a lot
• 24:39
  Speaker 1: of the farming produce and work there has been sort
• 24:42
  Speaker 1: of supported by cheap immigrant labor, it does I mean,
• 24:46
  Speaker 1: it's a complex scenario, isn't it, Because it also assumes
• 24:50
  Speaker 1: that he's going to be successful at trying to purge
• 24:52
  Speaker 1: a million or two million illegal immigrants from the USA,
• 24:55
  Speaker 1: and I'm predicting failure on that one because it's just
• 25:00
  Speaker 1: I think they're too embedded in American American culture. What
• 25:03
  Speaker 1: do you reckon, Greg.
• 25:05
  Speaker 4: Well, I see most of the democratics ovens and are
• 25:09
  Speaker 4: saying the Federals can come in, but we're going to
• 25:12
  Speaker 4: defend these people to to to the very last, you
• 25:16
  Speaker 4: know whatever, and that and that's that happens, that's going
• 25:21
  Speaker 4: to be terrible. But I'm thinking more so that the
• 25:25
  Speaker 4: American agricultural industry is going to find higher costs in
• 25:30
  Speaker 4: producing what they're doing. And we have this quality thing
• 25:33
  Speaker 4: that's going on. But at the end of the day,
• 25:37
  Speaker 4: I mean, you look at Alban Easy in Australia has
• 25:40
  Speaker 4: already said to Trump, you know, let's keep Orcus and
• 25:44
  Speaker 4: all this sort of stuff going on. So this is
• 25:46
  Speaker 4: another dimension to my conversation. What will Winston Peters do
• 25:50
  Speaker 4: about being a supporter and principle of aucast if it
• 25:55
  Speaker 4: were to mean that we could get a favorable trade deal.
• 25:59
  Speaker 1: Yeah, Okay, Well, of course lots of things to plug
• 26:02
  Speaker 1: in there aren't there Martin, Thanks, fory call Greg, Sorry,
• 26:05
  Speaker 1: did you have a comment? They many, No, I didn't, Yeah,
• 26:09
  Speaker 1: because we're almost getting into a little bit of politics
• 26:11
  Speaker 1: central there. I guess the thing about the tariffs which
• 26:15
  Speaker 1: make it, you know that makes it. We're playing so
• 26:18
  Speaker 1: much guessing with this because there's an on the hustings
• 26:23
  Speaker 1: I'm gonna and we know Trump likes likes, Trump likes tariffs,
• 26:27
  Speaker 1: and he's talked about ten or twenty percent. But then again,
• 26:30
  Speaker 1: there's a reason America.
• 26:31
  Speaker 3: Imports a lot of our beef.
• 26:33
  Speaker 1: It's because our beef is really good and they don't
• 26:35
  Speaker 1: create enough of it. So it doesn't make sense that
• 26:39
  Speaker 1: they would necessarily put a tariff on our beef because
• 26:43
  Speaker 1: it's just going to hurt the American consumer as opposed
• 26:47
  Speaker 1: to if America was producing truckloads of beef, then there
• 26:52
  Speaker 1: might be an argument for tariffs so they can sell
• 26:54
  Speaker 1: more to their own consumers.
• 26:55
  Speaker 3: But if they need ours, why would they tariff it?
• 26:58
  Speaker 2: Well, because they have comments were that there would be
• 27:03
  Speaker 2: a blenkt tariff, and you know they don't make enough banana,
• 27:08
  Speaker 2: for example, either or they don't make any whatever's widgets,
• 27:14
  Speaker 2: and there'll be lots of things that there, and there'll
• 27:17
  Speaker 2: be lots of countries and companies that will be going well,
• 27:20
  Speaker 2: you know that should apply to other people, but not
• 27:23
  Speaker 2: not to us. Whereas if he does this as a
• 27:26
  Speaker 2: blanket everything that comes into the country as a ten
• 27:30
  Speaker 2: or twenty percent terrify not then that will be very
• 27:34
  Speaker 2: hard to get through. We'd like to really behave ourselves.
• 27:38
  Speaker 3: I think gaving ourselves make a difference.
• 27:40
  Speaker 1: Look, we're going another call, will go to in just
• 27:41
  Speaker 1: a moment, but we will take a break. It's twenty
• 27:43
  Speaker 1: three minutes to Sex News Talks.
• 27:45
  Speaker 3: He'd be.
• 27:57
  Speaker 1: Yes, Radio Gaga in a way, we're a little bit
• 27:59
  Speaker 1: Radio Gaga. This is the health, not the health of
• 28:01
  Speaker 1: This is smart money with Martin Hawes. I'm Tim Beverage.
• 28:04
  Speaker 1: And because we're talking about that where the markets might
• 28:08
  Speaker 1: go under a Trump presidency, well, we know we've got
• 28:11
  Speaker 1: the Trump presidency. What's it going to do to the
• 28:12
  Speaker 1: share market? And where should you put your money? Oh,
• 28:15
  Speaker 1: eight hundred eighty ten eighty. I've got some questions for Martin.
• 28:17
  Speaker 1: But first let's go to Tony Hello.
• 28:20
  Speaker 5: Start and Martin, look at a question. At the start
• 28:23
  Speaker 5: of the program, Martin said that he had a share
• 28:26
  Speaker 5: that went up ten times, you know, for this original
• 28:29
  Speaker 5: purchase price. But when would someone when would you think about, actually,
• 28:34
  Speaker 5: you know, in a situation like they're basically, you know,
• 28:37
  Speaker 5: over taking on shares that have gone up a lot.
• 28:39
  Speaker 5: One of the factors that would make you basically think
• 28:42
  Speaker 5: about sort of taking the money and not so much running,
• 28:45
  Speaker 5: but maybe sort of Well, I've been lucky, I've been
• 28:47
  Speaker 5: you know, I've worked out well at this stage. But
• 28:50
  Speaker 5: at some time, you know you're going to sort of
• 28:52
  Speaker 5: turn it into cash.
• 28:54
  Speaker 2: Yeah, well, a really good question. My first of all,
• 28:59
  Speaker 2: I'm not managing my own money. One of the reasons
• 29:01
  Speaker 2: I don't manage my own money is although I'm not
• 29:05
  Speaker 2: a bad buyer of investments, I'm not a terrible good seller,
• 29:09
  Speaker 2: and I tend to get a bit emotionally attached and
• 29:13
  Speaker 2: don't sell. But the basic principle would be you might
• 29:19
  Speaker 2: look at selling something like an Nvidia if something substantial, systemic,
• 29:27
  Speaker 2: or something major had happened within the company and its
• 29:32
  Speaker 2: place in the market was no longer the event, you
• 29:37
  Speaker 2: might sell the whole lot. The second thing to say
• 29:40
  Speaker 2: is that as that sheer has gone up. My managers
• 29:44
  Speaker 2: have been what's called trimming it. That is, they've been
• 29:47
  Speaker 2: selling little bits of it. You know. So for example,
• 29:53
  Speaker 2: that might have started off as two percent of my
• 29:56
  Speaker 2: total portfolio. As it went up, it turns into five percent.
• 30:01
  Speaker 2: Now that's a fairly big slug for just one security
• 30:05
  Speaker 2: in the portfolio. So I would my well, my managers,
• 30:09
  Speaker 2: I keep talking about me doing this, I don't do it.
• 30:12
  Speaker 2: My managers had been trimming that periodically. As it's turned out.
• 30:17
  Speaker 2: I wish they hadn't trimmed it. It would be but
• 30:19
  Speaker 2: it would be a big chunk. Now, it might be
• 30:21
  Speaker 2: twenty percent of the portfolio now if it hadn't been trimmed.
• 30:26
  Speaker 2: But you are talking to somebody who's not a work
• 30:29
  Speaker 2: would sell up of shares. My instinct isn't the sell
• 30:32
  Speaker 2: no A. I work on a basis, or I used
• 30:36
  Speaker 2: to work on a basis that I would try to
• 30:39
  Speaker 2: buy good businesses so that I wasn't buying shears, I
• 30:44
  Speaker 2: was buying I was actually buying a little bit of
• 30:46
  Speaker 2: a business. I'd try to get that at a fair
• 30:49
  Speaker 2: price or better, and then I don't trade. I tend
• 30:53
  Speaker 2: to hold them for very long term. Long term. My
• 30:57
  Speaker 2: basic thing was to look at the big secular cycles
• 31:00
  Speaker 2: and the really big things that are going on in
• 31:03
  Speaker 2: the world and trying to play those from an investment
• 31:06
  Speaker 2: point of view. The obvious one of them and all
• 31:07
  Speaker 2: that stuff, guys as is something that I would be
• 31:14
  Speaker 2: trying to play at the moment.
• 31:17
  Speaker 5: Right, So you wouldn't subscribe to the velocity of living
• 31:19
  Speaker 5: a bit in an ext and moving it on where
• 31:21
  Speaker 5: you've basically done well, it's not a good idea. You've
• 31:25
  Speaker 5: basically sort of got a sort of maybe cheshire bit
• 31:28
  Speaker 5: to secure and then your initial investment and then sell
• 31:31
  Speaker 5: off little bits like your managers doing book your sees.
• 31:33
  Speaker 3: Is that right?
• 31:35
  Speaker 2: Yes, I'm not you know, if I was managing my
• 31:38
  Speaker 2: own money, I'm not going to sell out of a
• 31:41
  Speaker 2: really good company. So as a really well run company,
• 31:46
  Speaker 2: it's doing stuff that almost nobody else is doing it.
• 31:51
  Speaker 2: It's got pricing power, so it's pushing up the price
• 31:55
  Speaker 2: of its silicon chips more and more. So, Yeah, I
• 32:00
  Speaker 2: don't mind selling a little bit so it doesn't become
• 32:02
  Speaker 2: too dominant within the portfolio. But I'm not going to
• 32:05
  Speaker 2: get right out of it.
• 32:07
  Speaker 5: Okay, I've got.
• 32:10
  Speaker 3: Just Tony actually you could do it.
• 32:12
  Speaker 1: I mean, the question about when to sell is you
• 32:15
  Speaker 1: do a whole hour on that?
• 32:16
  Speaker 3: Really, isn't it? Because and hindsight's fambulous, isn't it.
• 32:22
  Speaker 2: I love homesight. Yeah, you'd probably want somebody else on
• 32:26
  Speaker 2: the show rather than me if you're going to be
• 32:28
  Speaker 2: talking about selling, because I really, you know, it was
• 32:31
  Speaker 2: one of the things that I identified about myself that
• 32:34
  Speaker 2: I am a good buyer. I'm not a bad buyer,
• 32:38
  Speaker 2: but I'm a very poor seller.
• 32:41
  Speaker 5: Is it?
• 32:41
  Speaker 2: Just?
• 32:42
  Speaker 1: Look, I know you don't like you're not going to
• 32:44
  Speaker 1: give specific financial advice, but just as a banterish sort
• 32:48
  Speaker 1: of question, I look at the tariff potentials, right, and
• 32:56
  Speaker 1: I look at one of the guys who's in the
• 32:58
  Speaker 1: tent with Trump, and that is Elon Musk. And my
• 33:02
  Speaker 1: gut tells me, probably wouldn't hurt to buy Tesla shares.
• 33:08
  Speaker 1: And then and the other part of my gut says, well,
• 33:09
  Speaker 1: I get told that usually the market is way quicker
• 33:11
  Speaker 1: than I'll ever be, and that's probably been priced in.
• 33:14
  Speaker 1: And I noticed that the share price for Tesla since
• 33:19
  Speaker 1: the fifth in November has gone up from two hundred
• 33:23
  Speaker 1: and two hundred and fifty bucks sorry, two hundred and
• 33:27
  Speaker 1: forty dollars to three hundred and twenty already.
• 33:30
  Speaker 2: Yeah, I was going to say, I think it's up
• 33:32
  Speaker 2: twenty percent. So look, as a short term thing, you've
• 33:37
  Speaker 2: missed the boat. If it's right there, Tesla is going
• 33:42
  Speaker 2: to be able to ride a particular, particularly favorable wave,
• 33:49
  Speaker 2: and it'll be able to do that for ten years.
• 33:52
  Speaker 2: Then yes, it'll have ups and downs, but maybe you
• 33:54
  Speaker 2: should buy it because it it could be good at
• 33:57
  Speaker 2: it almost at any price. If it really does well,
• 34:00
  Speaker 2: I've no doubt that Musk will be doing his very
• 34:03
  Speaker 2: best to leave off the relationship piece. Now I've got
• 34:07
  Speaker 2: with the president elect of the United States.
• 34:10
  Speaker 1: You know, the funny thing about the risk with that
• 34:12
  Speaker 1: is is that there are and this is based on history,
• 34:17
  Speaker 1: is that Trump has relationships which persist. But then he
• 34:20
  Speaker 1: does have relationships where people fall out with him. I
• 34:22
  Speaker 1: mean some of the people he put in his first administration,
• 34:24
  Speaker 1: he loved them, and then all of a sudden he
• 34:26
  Speaker 1: fell out with him. My risk would be, my worry
• 34:29
  Speaker 1: would be that if Elon actually at some stage really
• 34:32
  Speaker 1: I don't know, and I don't suspect he is going to,
• 34:34
  Speaker 1: but if they have a clash of egos suddenly and
• 34:36
  Speaker 1: he falls out with Trump. Then I don't know what
• 34:39
  Speaker 1: that would mean. But that's These are the sorts of
• 34:41
  Speaker 1: things that at play, aren't they If you're narrowing your
• 34:44
  Speaker 1: investment focus too much.
• 34:46
  Speaker 2: And that's not the sort of thing I like an
• 34:50
  Speaker 2: investment where it can they hang on a personal relationship.
• 34:57
  Speaker 2: Because I think you're absolutely right, the chances have been
• 35:00
  Speaker 2: falling out are quite great. Anthony Scaramucci last that I
• 35:04
  Speaker 2: thought six or seven days or something as the director
• 35:09
  Speaker 2: of communications in the White House.
• 35:10
  Speaker 3: Oh that's right.
• 35:11
  Speaker 1: Yeah, that was a spectacularly short time and entertaining at
• 35:14
  Speaker 1: the time, wasn't it.
• 35:15
  Speaker 2: Yes, yes, it was.
• 35:17
  Speaker 3: What about people who are interested in who think I mean.
• 35:22
  Speaker 1: Again, I know it's not specific advice, but say you
• 35:25
  Speaker 1: decide you love tech stocks, and you think, look, I
• 35:27
  Speaker 1: actually really believe that the nvideos are this world and
• 35:29
  Speaker 1: other tech stocks. So I'm going to buy into a
• 35:32
  Speaker 1: fund that focuses on American tech stocks. And again, this
• 35:37
  Speaker 1: is rule of thumb stuff, because everyone has their own
• 35:39
  Speaker 1: appetite for risk. But there'd be those who think I'm
• 35:42
  Speaker 1: going to stick everything I've got into American tech stocks.
• 35:44
  Speaker 3: Is that?
• 35:46
  Speaker 2: No? No, I mean, I wouldn't do that, But what
• 35:48
  Speaker 2: I would do perhaps is have a fund that owned
• 35:51
  Speaker 2: the S and P five hundred, which is the top
• 35:53
  Speaker 2: five hundred companies now that has the magnificence even to
• 35:58
  Speaker 2: the top a dozen. Also companies of that or say
• 36:02
  Speaker 2: eight or ten companies are technology stocks. But then on
• 36:06
  Speaker 2: top of that, I might have ten percent of a
• 36:09
  Speaker 2: portfolio or something which is focused solely on technology, and
• 36:15
  Speaker 2: also to focus on technologies that are outside of AI,
• 36:21
  Speaker 2: outside of the likes of Amazon, Alphabet, Apple and so forth,
• 36:26
  Speaker 2: and looking at things like medical devices and possibly even
• 36:30
  Speaker 2: in spite of Trump, clean tech. Yeah, yeah, it may maybe,
• 36:38
  Speaker 2: especially if it was involved around the world, like I
• 36:42
  Speaker 2: would potentially and I don't know of one that exists,
• 36:46
  Speaker 2: but I would potentially by a company in New Zealand
• 36:50
  Speaker 2: that that solar you know, that was selling solar panels
• 36:53
  Speaker 2: or something within New Zealand. Now I don't know whether one.
• 36:56
  Speaker 2: I know that a lot of small providers, none of
• 36:59
  Speaker 2: them listed. I don't think that you can buy on
• 37:01
  Speaker 2: the share market, but you know we you know we can.
• 37:05
  Speaker 2: We can start putting solar panels on our roofs. And
• 37:09
  Speaker 2: Trump is not going to care one way or the other.
• 37:11
  Speaker 1: Well, the other thing is the world has an appetite
• 37:13
  Speaker 1: for clean technology, and if those companies in America producing,
• 37:16
  Speaker 1: it doesn't matter whether America wants to actually adopt all
• 37:19
  Speaker 1: those technologies, which I suspect it still will. The world
• 37:24
  Speaker 1: is still interested. So intuitively, it doesn't seem like it's
• 37:28
  Speaker 1: such a dog.
• 37:29
  Speaker 2: No. And the companies in the US that are trying
• 37:33
  Speaker 2: to do direct carbon capture, for example, these are machines
• 37:36
  Speaker 2: that suck in the atmosphere, strip out the carbon, turn
• 37:40
  Speaker 2: the carbon into something solid like a big block, and
• 37:44
  Speaker 2: dispose of that thick a hole. Now there are a
• 37:48
  Speaker 2: lot of companies in the up not a lot, but
• 37:50
  Speaker 2: there are companies in the US working on that, and
• 37:52
  Speaker 2: in Switzerland and Finland. They will carry Yeah, yeah, it does.
• 37:56
  Speaker 2: They will carry on doing that. And Trump or no Trump,
• 38:01
  Speaker 2: but it won't matter because the price of carbon will
• 38:05
  Speaker 2: be the price of carbon probably.
• 38:08
  Speaker 1: That's fascinating. Yeah, okay, well, look we'll come back to
• 38:11
  Speaker 1: wrap up in just a moment. It is nine minutes
• 38:14
  Speaker 1: to six. This is news Talk, said b his news
• 38:16
  Speaker 1: talk said, be Tim Beveridge, my guest for Smart Money,
• 38:19
  Speaker 1: as Martin Hawes, Martin Gosh time flies it because we've
• 38:23
  Speaker 1: sort of it's been more of an easy banter today
• 38:25
  Speaker 1: because there is so much uncertainty about what's what America
• 38:28
  Speaker 1: is going to do when it comes to tariffs and
• 38:30
  Speaker 1: all that. Can I run past you so you you
• 38:35
  Speaker 1: you've made the comment that Trump is he likes tariffs,
• 38:39
  Speaker 1: and he does like them broadly speaking, whereas we had
• 38:42
  Speaker 1: Morris Williamson on and who did make the comment that
• 38:45
  Speaker 1: he thinks that for a bunch of reasons, that it
• 38:48
  Speaker 1: might not be the smartest thing to be his blanket
• 38:53
  Speaker 1: with the tariffs and everything. He sort of thinks that
• 38:55
  Speaker 1: there's a lot of bluster and that basically, look, we
• 38:57
  Speaker 1: should just have a cup of tea and lie down
• 38:58
  Speaker 1: and we'll it'll be fine.
• 39:00
  Speaker 3: It won't be as bad.
• 39:01
  Speaker 1: Does that inform your opinion at all?
• 39:05
  Speaker 2: No, that's sort of it's exactly my opinion really right
• 39:08
  Speaker 2: at the top of the show, that we just don't
• 39:11
  Speaker 2: know that, you know, I mean, he's so mercurial. But
• 39:19
  Speaker 2: I think there's a reasonable chance we will see not
• 39:22
  Speaker 2: so much tariffs. I think there's almost a certainty that
• 39:25
  Speaker 2: we'll see tariffs on going. I mean, there's been quite
• 39:29
  Speaker 2: big tariffs under under Biden, Yes, but that we might
• 39:34
  Speaker 2: see there's there's a chance at least that we will
• 39:37
  Speaker 2: see blanket tariffs, that is, every article that comes into
• 39:42
  Speaker 2: the US as subject to a tariff. And I mean
• 39:46
  Speaker 2: Morris Williams highly experiences the Minister of the Crown. He's
• 39:51
  Speaker 2: a Minister of Trade or something like that, customers, something
• 39:57
  Speaker 2: like that. He will know a lot about this. But
• 40:03
  Speaker 2: we're all showing a dart at a dart board and
• 40:05
  Speaker 2: the fund anas because we just don't know him.
• 40:07
  Speaker 1: It's quite a there's been interesting to Bandra about it,
• 40:09
  Speaker 1: and also just a few ideas about tech stocks and
• 40:12
  Speaker 1: what it's going to do. And even can make their
• 40:14
  Speaker 1: own decisions, but it's always good to get good advice.
• 40:16
  Speaker 1: And usually a good fund manager do way better of
• 40:19
  Speaker 1: managing your shares than you will, Isn't that right?
• 40:23
  Speaker 2: Generally? I'm certainly finding I'm certainly finding that for myself
• 40:28
  Speaker 2: because no longer imagining my money, I've handed my money
• 40:31
  Speaker 2: over to others. And I think, who's to say it,
• 40:35
  Speaker 2: but I think they they are doing better than I
• 40:38
  Speaker 2: was doing. I was doing okay, but I was only
• 40:40
  Speaker 2: doing it.
• 40:40
  Speaker 1: I don't mean you, I meant me probably no, hey,
• 40:44
  Speaker 1: and the good thing is. Look, if they don't buy
• 40:46
  Speaker 1: quite as much as bad beef, maybe we'll be able
• 40:47
  Speaker 1: to get some of the good stuff because I was
• 40:49
  Speaker 1: told by meat exporters like, oh, I know all the
• 40:51
  Speaker 1: good stuff goes overseas, so maybe anyway, Look, hey Mark, thanks,
• 40:54
  Speaker 1: thanks so much mate for your time. Really appreciate it.
• 40:58
  Speaker 1: Thanks Jerry, and thanks my producer, Tyre Roberts. Check out
• 41:01
  Speaker 1: the podcast week and collect them on iart Radio and
• 41:04
  Speaker 1: Sunday at six is Next. For more from news Talks,
• 41:08
  Speaker 1: be listen live on air or online, and keep our
• 41:11
  Speaker 1: shows with you wherever you go with our podcasts on
• 41:14
  Speaker 1: iHeartRadio