Latest / Strictly Business / Shapiroworld by Strictly Business

Transcript

Shapiroworld by Strictly Business · Strictly Business

0:00
You're listening to Strictly Business Podcast with Lindsay Williams.
0:05
It's Monday, so as always on a Monday I speak to David Shapiro from Sassford
0:10
Securities in Johannesburg.
0:12
It's time for Shapiro World. Now David, I sent you a message earlier on and I said
0:16
dead cat bounce,
0:18
and I wanted to be provocative, you know, I wanted to get you going on a Monday.
0:20
I know you're like me and you more or less work alone these days and you like to get
0:27
everything put on your desk, reports and everything, and excuse me,
0:29
could you do that for me and that?
0:31
I'm the same, especially with tech stuff.
0:33
But you haven't got that.
0:35
So I know on a Monday, you're always particularly busy preparing for the week.
0:38
So I thought I'd be provocative and annoy you with the dead cat bounce story.
0:43
And I really believe it.
0:45
And before you start your analysis, I'll tell you what's been happening.
0:50
The tech stocks have been coming off or going sideways.
0:53
Some have been booming, but that's the new AI stocks coming to market.
0:57
And that'll fizzle out.
0:58
But some of the big ones, I mean, for example, Tesla, close to being in a bear
1:02
market, i.e.
1:04
a technical bear market is when they're 20% from their highs.
1:07
And I believe that what happened on Friday was completely ridiculous.
1:11
It was a classic short covering dead cat bounce.
1:14
The market had been going down, not precipitously, but quite steadily for
1:19
quite a while.
1:21
And then suddenly people said, oh, it's Friday, let's buy it.
1:22
And they bought it.
1:23
And you know what the excuse was?
1:25
because tech companies had been announcing capex and you know the reason why they
1:30
were down the
1:30
previous day because tech companies had been
1:33
spending too much capex so these stupid journalists and commentators like me
1:40
didn't know what to say they
1:42
said they said one thing one day one thing the next and that is it now we've had the
1:46
a down leg the little b
1:48
up leg the dead cat bounce and now we'll come to the sea down leg again, which will
1:52
go to new lows.
1:54
Not anything spectacular.
1:55
but it will go down again, just like Bitcoin will, just like gold will.
1:59
Because I've been watching some of these stocks.
2:01
They don't do anything.
2:02
They're not making new ground.
2:04
We know that they're spending capex.
2:06
We know what AI is going to do, change our lives.
2:09
It needs to be fed.
2:10
And that is my rationale.
2:12
Stay in the market, yes, but don't expect anything too soon.
2:16
There we go.
2:17
I'm finished.
2:17
I'm going to agree with you there.
2:19
No, I'm going to agree with you.
2:20
OK.
2:20
Nothing's going to happen soon.
2:22
I think that, I think it's tired.
2:24
I think people are tired of the theme and they need something new.
2:30
But I took exactly what you've said, you know, about the amount of money that's
2:36
going to be spent.
2:38
And I thought about it.
2:40
I said, hold on, let's take a step back.
2:42
If I'm trying to get these numbers and when I complain to you about having to put
2:47
numbers together and really
2:49
embellish some of my arguments, you know, you can't just make statements.
2:52
That's what I'm trying to do.
2:54
But what I work out is that the numbers that I'm coming to is like almost
3:01
$650 to $700 billion is going to be spent by the big ones, by
3:08
Microsoft, Google, Amazon.
3:10
Over what period?
3:11
That's important.
3:13
This is the ones that they've just announced.
3:15
So it could be a year, it could be two years.
3:18
I don't know.
3:19
I think this is going to continue.
3:21
I don't think it's going to stop.
3:23
Now, globally, I think there's going to be spending as well.
3:27
You know, Europe has done nothing.
3:29
It's got to catch up.
3:30
The rest of the world's done nothing.
3:32
So when I think about that,
3:34
I know that some of the big companies have got the cash flow to keep investing,
3:41
whereas maybe Amazon hasn't and it's got to borrow money.
3:45
But still, then I thought about it from another angle.
3:48
And this is the angle I'm taking.
3:49
I'm saying.
3:51
We don't know who the winners or losers are going to be.
3:54
You can't make that decision.
3:56
You can guess.
3:57
But there will be winners and there will be losers.
4:00
But where the economies are going to gain, and this is what I'm trying to develop,
4:06
and it's in the early stages,
4:08
just think about $650 billion on data centers or social, whatever.
4:13
First of all, they're construction jobs, okay?
4:16
You've got to build these things.
4:18
Not only that, you've got to put power into them.
4:20
Before you do this, explain what a data center is and also what the energy
4:27
implications are for the
4:29
data center and is that part of the data center, the energy generating cubicle or
4:33
whatever it is, plant?
4:35
This is not, each data center is a massive building now.
4:38
It's not a little container that's fallen off a ship or something like that that has
4:44
come up,
4:46
just washed up to shore.
4:48
You know, it's not one of those that you can make a spaza out of and sell chappies
4:50
or whatever.
4:52
These are huge,
4:54
sophisticated buildings and containing an enormous amount of hardware and
4:58
software.
4:59
And this is where data...
5:02
And this is where if you've got a firm, say, for example,
5:06
your data will be collected in this factory or in this big center, and you
5:12
will use it, number one,
5:14
to drive your business.
5:16
You know, at the moment we're sharing them, but I think somewhere down the line
5:19
they'll probably get too big where
5:21
companies will want their own data centers.
5:22
So, you know, you can't do anything without data.
5:25
And the whole of AI is driven by.
5:29
The speedy use of all of this information.
5:31
It's like a digital library, in other words, because you've got all the
5:35
information stuck there.
5:37
And surely, David, though, when you hear about the size of the chips that our
5:42
friend Viv Govender from
5:44
Ramsteris talks about, it's getting smaller and smaller.
5:46
So why are data centers getting bigger and bigger?
5:48
Surely they should be shrinking like a cell phone trunk.
5:51
Yeah, but what happens is you can store more and more data in these big…
5:58
factories or these big buildings.
6:00
So, I mean, you've got to think of it in that way.
6:03
But the other point is that I thought is, hold on a sec, every time you do this,
6:08
you're creating jobs for scientists, for engineers and scientists, because they've
6:15
got to learn how to use the data.
6:17
So, you're opening the way for students at university or other colleges to learn and
6:21
to develop skills.
6:23
They're developing skills that other countries who are not spending are not
6:26
going to have.
6:28
in the UK or in Europe or wherever, in South Africa, etc.
6:31
So they're far ahead.
6:33
So that's my whole contention is looking at it from that point of view and saying
6:39
this
6:41
puts America way ahead of any of its competitors.
6:45
China's there.
6:45
China, sorry, it's unfair.
6:48
I think China is doing as much as they can as well.
6:51
It's the rest of the world, like Europe, that are probably going to lag behind.
6:56
So.
6:57
I see this as, you know,
7:00
massively advancing for these economies.
7:07
Okay, but then look at the employment side of things, David.
7:11
You said, okay, construction jobs.
7:13
How long does it take to put up a data center?
7:15
Okay, it's a big warehouse complex, let's say.
7:18
As we've coined it now, a digital library.
7:21
It takes...
7:22
I don't know, in Europe it doesn't take long at all.
7:25
We're quite efficient here.
7:26
Despite everything you say about Europe, we're quite efficient.
7:30
Okay, so it might take six to nine months.
7:34
It might take a year in America, a year and a half.
7:36
And okay, after that, where do they go after that?
7:39
They go back home.
7:40
The scientists, the high-end scientists.
7:42
It's not going to be thousands of them, David.
7:44
It's not going to affect the jobs number, which is coming out this week,
7:48
incidentally.
7:50
It's a few people that will get there.
7:50
really, really, as I say,
7:52
high-end stuff um but i'll give you an example of where it will knock jobs out
7:59
the sort of jobs that
8:01
where people go home on a friday and go out for go out for a pizza or a burger or
8:06
something watch a football game
8:08
and then go back to work on monday normal people and i give you an example of where
8:13
jobs are being lost i do a few
8:15
podcasts for you know the corporate world and the corporate world will say thank you
8:20
very much and they put it up on their site
8:22
And they say, oh, Lindsay, could you write a blurb for me?
8:23
So I have to describe what the podcast is going to be.
8:27
So and so spoke to him about this, and he described this, and this is how the
8:32
company is positioned.
8:34
Okay, pretty easy.
8:36
It takes me five minutes.
8:38
And I haven't been getting these, would you send a blurb messages anymore?
8:39
And I phoned up the person that I deal with, and she said, oh, no, no, no.
8:43
I just put in the keywords, and AI writes it for me.
8:48
And it's really good.
8:49
And she sent me one.
8:51
She sent me one, and it was good.
8:52
And she said, what do you think?
8:53
I said, it's better than anything I've ever written.
8:56
And it wasn't, of course, but I was just saying that to make her feel good.
9:01
And I said, soon I'll be out of a job.
9:04
And she said, if they can start doing the interviews that you do, as well as you do,
9:11
then yes.
9:13
At the moment, though, no.
9:15
But the inference in my mind was there that eventually.
9:16
People like me will not have a job because it will be done by AI.
9:21
It's not that far away, David.
9:23
No, it's not going to be.
9:25
You know, if you take that forward, it means that we won't have research
9:31
analysts, we won't have
9:33
Bloomberg, CNBC, all the news channels and so on.
9:35
You'll have some head talking head there going in and monitor.
9:39
So I don't think that's going to happen.
9:41
Where it is, what it does do is it's going to speed up a lot of operations,
9:47
admittedly.
9:49
For example, I was talking to an advocate friend of mine who says that, you know, in
9:54
many cases,
9:56
he will put in certain information into a special legal one and he says it comes out
10:01
and it, you know,
10:03
he has to review it because it can have, there can be issues, you know, which he
10:06
has to check.
10:07
But I mean, it saved him an enormous time.
10:09
And I think where the beauty comes is exactly it says, listen, I've got to write
10:14
an opinion.
10:16
And these chaps are under a lot of it.
10:18
A lot of pressure.
10:20
And sometimes you can't quite get the words out or can't get it.
10:22
This does it for you.
10:24
And you say, okay, you've got to do a little bit of editing yourself and say,
10:27
no,
10:28
I don't like those flourishing words and so on.
10:30
But there's no doubt that it helps, that it can help.
10:33
But where these data centers as well is you need plumbers.
10:40
You need electricians.
10:41
You know, you need builders, you need architects, you need all of that.
10:44
Yeah, but it's not the same, David.
10:46
It's not like an office block where every single floor needs plumbers and that sort
10:50
of thing.
10:51
These data crunching machines don't need to go to the bathroom every four hours.
10:59
So really, I'm destroying your argument quite nicely here, actually.
11:02
I know that.
11:03
No, I know.
11:04
It helps you formulate your views.
11:07
Not you, I'm talking in a broader sense.
11:09
Yes.
11:10
One's views.
11:11
But I think that this is big.
11:14
We're going to see where this goes.
11:16
No one knows.
11:17
And that's the mystery of this, Lindsay, is that nobody really knows.
11:21
You know, we're all guessing.
11:22
And the worst is that you've got some journalist who says, you know, the editor
11:27
says, go write an article.
11:29
Oh, God, what do I know about it?
11:31
You know, and you start writing things that you know very little about.
11:33
I think that's one of the problems.
11:36
I think that's why I like to do things myself and research and ask questions and
11:41
so on.
11:42
I want to develop this.
11:43
You know, I mean, it's early stages.
11:45
I want to find out what the multiplier effect can have on an economy from these.
11:52
You know, you ask the right questions.
11:55
How big are these data centers?
11:56
You know, what do they entail?
11:58
How long do they take to build?
12:01
You know, what's the spending on them?
12:02
Can society in the future, will the David Shapiro in 100 years' time, your
12:08
equivalent,
12:10
what will he be investing in?
12:11
Because society has got to change and society will change
12:18
without it changing, if you see what I mean.
12:19
Society will be forced to change and one day we'll wake up and we won't have a job.
12:24
And one day thousands and thousands of other people will be the same.
12:28
One day you'll wake up and you won't be able to live in a particular city in
12:34
India, for example, because it's too hot.
12:36
So you've got climate change, you've got AI, there's going to be more migration.
12:38
There's going to be demographic changes.
12:41
People will stop having babies as much.
12:43
And in the countries where they do have babies, they will have to migrate.
12:47
And you've got to get ready for a world where 10% unemployment would be a good
12:53
number.
12:53
20%, 25% might be the norm.
12:57
Luckily, David, you and I are going to be dead.
12:59
I'm old.
13:01
We're going to be dead.
13:03
Lindsay, I think about that not for 100 years.
13:06
I think about it in five years.
13:08
I think about it 10 years and I say, okay, what's coming up?
13:13
We were lucky.
13:14
I mean, we would have been devastated if it wasn't for ChatGPT.
13:19
If I take the route that we took in 21, 22, thereabout, you know,
13:25
we were buying NVIDIA for gaming because it was lockdown, which was COVID.
13:30
You know, this is a great buy.
13:32
I'm going to buy it.
13:32
It's a GPU.
13:33
It's good.
13:35
And suddenly rates go up.
13:37
Our power put rates up from zero to five and a half.
13:39
Markets crashed in 22 and so on.
13:42
Thank goodness.
13:43
We would have continued because rates are still relatively high.
13:46
But what happened in November 22 was chat GPT, and that changed everything.
13:51
So now I'm saying, okay, you know, we can run the story for so long.
13:56
And as you correctly said when you opened up and saying, things are tired, you know,
14:02
and don't expect.
14:04
Don't expect massive gains from here.
14:05
We'll bumble along.
14:06
But I keep saying, okay, so what's coming next?
14:10
It gives you a chance to catch up on your admin and do some longer-term research,
14:15
David,
14:17
rather than have to phone up a client every day and say, look, we've moved 5%
14:21
today, 5% yesterday, that sort of thing.
14:23
I don't see that happening.
14:25
And when people don't know what to do, it's another thing, because human behavior
14:27
is still...
14:29
runs the market.
14:31
So you can have as many algorithms as you like, but it's still human nature and the
14:34
fragility of the human being must never be
14:36
discounted when it comes to market moves.
14:38
People don't know what to do at the moment.
14:40
And it's illustrated beautifully by Thursday, we're selling the market because
14:47
there's too much CapEx.
14:49
And on Friday, we're buying the market because there's CapEx.
14:50
So when there's confusion, people either sit on their hands or they sell.
14:54
Bitcoin Good luck.
14:56
Went to 72,000 over the weekend, back at 68,500 now.
15:00
That's finished.
15:01
You can forget about that, Mr.
15:03
Trump.
15:04
But he doesn't pay his bills anyway, so he doesn't care.
15:07
He'll pass that on to Eric and Don Jr.
15:11
It ran out of space.
15:13
Everybody would buy Bitcoin, buy Bitcoin, buy Bitcoin.
15:16
Okay, so I bought Bitcoin.
15:17
Now what?
15:18
I've got to wait for someone else.
15:20
And eventually, it just ran out.
15:21
It didn't for full The reason that people were buying it, hoping that if there was,
15:28
you know,
15:30
that it would replace fiat currencies or paper currencies, and that also that in
15:34
times of stress,
15:36
that it would be, you know, far better than gold or anything.
15:38
No, it didn't live up to that.
15:40
It's done nothing.
15:41
But Lindsay,
15:43
the point is that why you brought up such an important topic is that in
15:50
the past.
15:51
Where we went into an economic growth area and things started to pick up, we said,
15:57
oh, you've got to have banks.
15:59
Yes, banks.
16:01
They're going to do lots of work.
16:03
They're going to lend money.
16:05
Banks have changed.
16:07
They've completely changed.
16:09
They're there on your phone.
16:11
You don't have to go knock on the door and see your bank manager.
16:13
The other thing is that people are not, youngsters are not drinking.
16:13
They're not dating.
16:14
They're doing all kinds of different things.
16:16
They look for, they don't use advertising.
16:18
The advertising is ticked.
16:19
TikTok or Reels or Instagram, whatever it is.
16:23
So all of that has changed as well.
16:26
And it's very difficult to say, well, if I haven't got tech, what do I buy?
16:30
You know, what's there to buy?
16:33
Coca-Cola.
16:34
Nah, people, kids don't drink Coke anymore, you know, or chew Riggies.
16:39
Someone does because one of the Super Bowl ads.
16:43
This weekend, the 30-second ads, which cost a ridiculous amount of money, of
16:46
course.
16:47
I don't know what it is now, 12 million or something per second.
16:49
Anyway, the point is, David, maybe I'm exaggerating, that it was a Pepsi versus
16:54
Coke ad.
16:56
It was a comparative advertising.
16:59
And Pepsi was having a go at Coke.
17:01
So people are still drinking fizzy drinks, but I do agree with you.
17:04
I mean, when I was young, I don't want to say what I did because I'm ashamed of what
17:09
I did.
17:09
But you know what we did when we were young.
17:11
I mean, you didn't drink as much as I did when I was young, but you did other things
17:16
as well.
17:18
You go out and you have fun.
17:20
They don't do that anymore, do they?
17:22
They're at home at 7 o'clock after a long day at work or college or whatever it is,
17:26
and then they study or play games.
17:28
Exactly.
17:30
And they communicate via internet with friends, so there's no socialising,
17:34
there's no dating.
17:36
And the other thing is you've got...
17:37
You've got the Wigovi, the weight loss drug, which are changing people's minds.
17:42
They don't feel like eating.
17:43
They don't feel like drinking.
17:45
It's appetite suppressants.
17:48
What a world.
17:51
But it challenges me all the time.
17:54
And I find it a lovely challenge to say, okay, where do we go?
17:58
If I'm forced to sell out of tech, what do I do?
18:04
I'm looking at commodities.
18:05
What's the trend, David?
18:09
You've got your finger on the pulse through the Crystal Challenge.
18:13
I mean, that's just a fun game.
18:14
But some people take it seriously.
18:16
I didn't take it particularly seriously.
18:18
I'll tell you what I did.
18:19
I put into one of my AI apps, I said,
18:25
what were the five worst performing chairs on the JSC in 2025?
18:30
And it spewed it out.
18:31
And there's a couple I didn't want.
18:33
So I actually took four of the worst and put in one of my own to buy this year,
18:40
just in case there's a turnaround of sentiment.
18:43
I don't think there will be, but just in case there is.
18:45
What have people been doing?
18:46
You must have noticed a trend.
18:49
You know what happens?
18:50
It's very interesting to see what they bought.
18:53
The number one choice that they had in this competition.
18:57
In fact, I'm trying to put an article together now.
19:00
Sibania.
19:01
Yeah.
19:02
We've got 494 people entering.
19:05
That's a lot.
19:05
Yes.
19:06
I don't know.
19:07
I'm going to have to ask AI what the choices are.
19:11
190 stocks, 494 entrants.
19:14
What the combinations?
19:15
How many different combinations can you get?
19:17
That's too complicated for me.
19:19
You know, it's not do you understand?
19:21
So, I mean, how many outcomes there can be.
19:25
But to Banya, number one, why?
19:26
Because there's this belief that commodity prices You know platinum gold are going to
19:32
go up.
19:32
I think that was number what was number two?
19:34
Oh purple, you know purple capital
19:39
89 people for I don't know
19:44
And number three was nice bass For AfriMet,
19:51
AfriMet's okay because there's belief that there's going to be a building boom and
19:57
they've got iron ore.
19:59
So I like that.
20:01
I think I might have even chosen it myself.
20:03
I think number five was Cecil.
20:04
Yeah, you know, recovery.
20:05
It's a great trading stock.
20:08
I can tell you that in that case, that's very gratifying for me because I can tell
20:15
you exactly where Sasol's going
20:17
to go over the next year, down to 70, 80, some things like that.
20:19
So sorry, chaps, you've lost on that one.
20:21
So that's very good news.
20:23
Then the recovery of Aspen is next.
20:26
Aspen, people think, you know, from a low point that Steven Saad.
20:31
who believes that the combination or the sum of the parts are bigger than the share
20:36
price at the moment.
20:38
And he's put his money where his mouth is.
20:40
And I hope that he does get this turnaround.
20:42
What else was there?
20:43
Harmony, of course, in the gold fields and quite a few of those.
20:48
But that's where the thinking is.
20:51
It's also very entertaining to see what kind of people enter.
20:56
We've got a helicopter pilot, an airline pilot.
21:00
A boiler maker, surgeons, violinists, pianists.
21:04
And what's the men-women split?
21:06
Do you know?
21:06
It must be quite heavily in men's favor.
21:10
Mainly males.
21:11
Mainly males, yeah.
21:13
You know, it's something from one of my observations.
21:16
Yes.
21:17
Is that women are exceptionally clever, but very risk-averse.
21:24
Yes.
21:24
They're good economists.
21:25
You mean sensible, in other words.
21:26
Yes.
21:27
Well, they're very good economists.
21:29
They're very...
21:30
thorough analysts but they don't take risks and i think that might come from
21:37
running a family you know uh they
21:39
steady and um you don't find many traders you know women who i you know who love to
21:44
trade so the bulk of them the bulk of the people who take a you know who enter
21:50
competitions are or men who
21:52
love to think again you know there's a little bit of gambling risk-taking um
21:55
nature around that and my mother was the exception bless her That's it.
22:00
If you like.
22:04
That's for another day.
22:06
But it's very interesting.
22:08
And I would be very keen to see your
22:12
AI analysis on the number of combinations and the trends and everything like that,
22:17
because it is a snapshot of the investment community, I think.
22:21
It also, the beauty about it, and I'm trying to get this, you know, articulate
22:28
this, is that
22:30
You've got to choose five stocks, Lindsay.
22:31
You can't make, you know, if we made a trading in and out, people get reckless
22:37
and they say, I'm going to buy today, I'm going to sell.
22:39
You've got to stick with it.
22:41
And that teaches you because you're monitoring those shares over a 10-month
22:45
period.
22:45
And you see the ups and downs on how daily movements or daily events can actually
22:52
influence the
22:54
movement in the share price.
22:56
So it becomes a very good exercise.
22:58
And strangely enough.
23:00
People take it seriously.
23:02
I mean, a lot of people, they actually don't like it if they're near the bottom
23:05
and they get angry and
23:07
whatever.
23:09
It's a game.
23:11
It's fun.
23:13
We all try and outmaneuver the market.
23:13
I'm in the same as you.
23:15
I also said, okay, what shares?
23:17
What's going to happen if this economy does take up?
23:20
It's going to be building.
23:21
It's going to be some of the commodities.
23:23
I think retailers, I said, I'm sure that clothing retailers, absolutely pulverized
23:29
are going to come back.
23:31
So those are the kind of things.
23:31
And last year, and the irony is last year, I chose copper 360.
23:36
I chose it this year, funnily enough.
23:38
Yeah, I know.
23:39
I know.
23:40
And it was the worst performing share out of everything last year.
23:46
It was down 70%.
23:47
You know, you can't lose more than 100%.
23:48
Which is strange because the metal did quite well.
23:50
It must be just a crap company.
23:52
But now it's up about 20%.
23:54
80%.
23:55
this year so far.
23:56
Oh, is it?
23:56
Very good.
23:57
Thank you very much.
24:00
Okay.
24:02
Keep us in touch on that one.
24:04
Keep us in touch on that one, David.
24:06
Okay, so let's have a look at this week now.
24:07
We've got the US jobs data coming out, and that was delayed because of a government
24:14
shutdown problem, technical issue,
24:16
whatever it is, or Trump's new people at the Bureau for Labour Statistics haven't
24:20
fudged the numbers enough for him.
24:22
He has a look at them first.
24:24
He says, no, go away.
24:26
You must do better.
24:28
But anyway, they're expecting, I think, around 60,000, 70,000 jobs created, which
24:28
is paltry and pathetic.
24:30
And that is a jobs recession to me.
24:32
Then we've got CPI data coming out on Friday, I believe.
24:34
I don't know when the jobs data is out.
24:36
I mean, it might come out earlier.
24:37
On Wednesday, I think.
24:38
Is it on Wednesday?
24:39
Didn't they say Wednesday?
24:40
OK, so jobs on Wednesday, inflation on Friday.
24:42
It's normally the other way around.
24:44
Other things are happening.
24:46
Lots more earnings to come through, tech companies and others, of course.
24:50
Then we have the Japanese elections.
24:53
Over the weekend and the Nick I down up 4% incredible performance there.
24:57
I haven't seen, I mean, I've seen 4% down for 4% up.
25:00
No, I haven't.
25:01
And the other thing is cheerio Keir Starmer.
25:04
He's got to go.
25:05
I mean, his chief of staff resigned over the weekend and his head of communications
25:11
resigned in the last couple of hours.
25:13
Yeah, he's, he's, he's a goner, but who's going to take over this?
25:16
Who replaces him?
25:17
This is the whole point.
25:18
I mean, British politics in turmoil, US politics as well.
25:22
What Trump said over the weekend about the Obamas, that ridiculous representation of
25:29
the Lion King video with him as the lion.
25:31
He doesn't even deny it.
25:33
I apologise.
25:35
He just says I wasn't involved.
25:37
It came out at like 2.30am. I mean, what staffer is working at 2.30am? It's Trump.
25:39
He can't sleep because he's constipated.
25:41
He's on the toilet with his grubby little greasy fingers sending out true social
25:48
things.
25:50
And he phones up one of the staffers and says, get up and make the Obamas look like
25:53
monkeys.
25:53
And off it goes.
25:54
But he did it.
25:55
I mean, it's unbelievable.
25:59
So that's what we've got this week, David.
26:02
So you just sit on your hands and you do some research, please.
26:06
That would be nice.
26:07
I'm trying to do something.
26:08
I'm trying to get to the numbers, you know.
26:10
That's my horse.
26:12
Yeah.
26:14
Anyway, I dig deep.
26:16
There's a lot to read.
26:17
Very nice.
26:19
It's fine.
26:20
But the challenge, you've identified the challenge.
26:23
It's exactly that.
26:24
What do we do?
26:24
Where is next?
26:25
You know what I mean?
26:26
Okay.
26:26
Well, you'll find something, I'm sure.
26:28
And also something to talk about, David.
26:29
We have to talk about football because that was the greatest game that I've seen
26:34
for a long, long time.
26:36
And I'm referring to Liverpool at home to Manchester City.
26:38
And I sent you a message after Liverpool went ahead and said, just said champions
26:45
because you're an Arsenal fan, have been all your life.
26:47
And it looked as though with them being nine points clear at that point with five
26:51
minutes to go,
26:53
that that would be the case.
26:53
But no, then all...
26:55
hell broke loose.
26:56
I actually took it the other way.
26:57
It was fantastic.
26:59
I thought you were saying Man City will be champions.
27:02
No, no, no.
27:03
That was before Man City turned it around.
27:06
I thought they're a threat.
27:09
They're a threat.
27:10
This is not...
27:11
This is 13 games to go and it didn't happen.
27:14
Well, they've got to go to the Etihad, haven't they, to play Man City?
27:19
Arsenal have to go there to play Man City.
27:22
They're playing them in March the 21st or 2nd in the Carabao Cup final as well,
27:27
which is going to be a test.
27:30
So there's a lot for Arsenal to get through.
27:33
You know, Arsenal, I think they've still got the return Chelsea game.
27:36
They've got a few games coming up.
27:38
But every game is tough.
27:41
But be analytical, David.
27:42
They're six points clear with a better goal difference.
27:45
So what's got to happen is that City have got to win every single one of their games
27:51
and Arsenal have got to lose two.
27:53
And City have got to score more goals in doing that.
27:55
It's not going to happen.
27:56
Arsenal are champions still.
27:57
I hope not, but there's I hope it happens.
27:59
But, I mean, it's a good run.
28:02
I loved the game.
28:02
I loved yesterday's game.
28:04
Oh, gosh, it was fun.
28:05
That free kick was astonishing.
28:07
I thought, that's it.
28:08
And then they came back.
28:10
They bumbled two goals in.
28:12
But they did it.
28:14
You know, you can't it doesn't matter how it goes into the back of the net.
28:18
It goes into the back of the net.
28:20
What I was disappointed in is It's the depth of Liverpool's squad, Lindsay.
28:26
They haven't got it.
28:27
They left Sela on.
28:28
I said, take him off.
28:30
Take him off.
28:31
He was doing absolutely nothing.
28:33
He was totally outclassed and outplayed.
28:37
And they couldn't, there was nowhere to replace him.
28:40
And now they're going to lose Slobber Sky.
28:43
Slobber Sky, he's three matches down.
28:45
He's out for three games, yeah.
28:47
Hey, idiot.
28:48
I mean, an idiot.
28:49
He'd lost the game.
28:50
Why couldn't he just leave it?
28:51
And also, why did Haaland pull in back as well?
28:58
It's just ridiculous, but it made it to be even more fun than it was anyway.
29:03
And the other thing we have to mention before we go is Tottenham Hotspur.
29:06
In a relegation battle now, only just above the bottom three, they can't buy a
29:12
game,
29:13
let alone win a game.
29:14
And Daniel Levy, when he left, left a mess.
29:17
And it should have been a sign to any incoming manager that this wasn't going to
29:21
be a quick turnaround.
29:23
And Thomas Frank, he's aged so much and he chews even more.
29:25
And quite honestly, I don't like him.
29:28
There we go.
29:29
Lindsay the bigot again.
29:31
No, I just, I agree with you.
29:34
Just Spurs are terrible.
29:36
And Romero, I mean, what an idiot.
29:39
And now he's gone for four games because he's already been sent off once this year.
29:43
So this is four games without him.
29:45
And their squad is so stretched, they've got no one.
29:50
Anyway.
29:51
You should be happy as an Arsenal fan.
29:52
David, thank you very much for your time.
29:54
It was really good fun and also very enlightening.
29:57
David Shapiro is from SAS from Securities.
29:58
And that was Shapiro World.
30:01
The views and opinions expressed in these podcasts are those of Lindsay Williams and
30:08
various contributors and do not reflect the policy,
30:10
position, or opinion of any other agency, organisation, employer, or company
30:15
associated
30:17
with strictlybusinesspodcast.com.
30:17
Assumptions made on the analyses are not reflective of the position of any other
30:24
entity other than the speaker or the author.
30:26
And since we are critically thinking human beings, these views are always subject to
30:30
change, revision,
30:32
and rethinking at any time.
30:33
Please do not hold us to them in perpetuity.