Latest / The Curve / TCW56: Hey Taylor, keen to fix our recession?

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TCW56: Hey Taylor, keen to fix our recession? · The Curve

• 0:00
  Hi and welcome to the Curve Weekly, the podcast that keeps you up to date with all the money,
• 0:06
  business and stock market tea. Everyone should experience for us at least once in their lives
• 0:10
  and Annie shouldn't miss out just because she can't afford it. Help me, I had such a dreamy weekend.
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  Talk about it. Talk about f***ing your dreamy team.
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  Emily, if that word is not beeped out, I'll be so annoyed that better be beeped out.
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  Okay, please leave it in. No, because that's not fair.
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  Flown man gets to have a pseudonym. That's not fair. Bushman.
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  Oh, that kind of sounds weird. Bushman. Oh yeah.
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  He actually tried to come up with his own nickname, which I thought was kind of funny.
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  Tall man. Yeah, he's so tall. He's like, I could hold a boom if you ever need one. He's like,
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  I could be your boom boy. I was like, oh, anyway, I had a really fun weekend. I went to one of those
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  unyoke houses. Oh, yeah, the cabins and the bush. Yeah, which you've been to before.
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  Yeah, I mean, with an old flame.
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  A corner of flame. Yeah, it doesn't deserve old flame, actually, even, to be honest, does he?
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  He dragged his feet going to that and I was like, you know what, I'm kind of gutted,
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  I even took you. But he not want to go. He didn't want to go. I was like, it's a cabin in the bush.
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  How exciting. But also, like, don't come there. I'll go by myself.
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  Not a weirdo. If someone invited me to go to this, I don't know. For me, that kind of a weekend
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  away, like, you have all the luxuries you need. You have a lovely shower. You've got a really
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  comfy bed. You have all the kitchen facilities you need, all the coffee stuff. Like, yeah,
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  it's glamping, but on steroids in the most beautiful location. Like, we cooked our food on an open
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  fire and literally, there's something quite primal about that, you know, one time magic. And I
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  just think if someone didn't enjoy it, or didn't want to go to something like that, I'd be like,
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  wow, there's so many red flags in my face, I can't even see, you know? Yeah. There was.
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  There was a tiny crack. No, it's so fun. If there anyone that hasn't done something like this
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  before, whether you actually spent a night by myself, which I thought maybe I'd be nervous,
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  because I'd be, I don't think I could. Well, I stayed on Instagram throughout the night,
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  till I couldn't keep my eyes open anymore. And then I slept, which is not really the kind of
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  chic, relaxed life you should be doing. But I was determined to be there by myself. And it was
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  so not scary. Like, you know, you're safe, but there's something so weird as soon as the sun goes
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  down, but I'm like, like, as if there's someone creeping around in the forest, you know, but still,
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  you know, yeah, well, anyway, but no, they are very good for the mind, body, soul,
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  to go off the grid and have a night by itself. I love to do more of them. Same. How cool would
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  like every three months? I just go into the wilderness and I think it's a good reset. It's a good
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  reset for your, like, just being in nature, like, I actually got there. This is so classic. You're
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  going to be like, got naked. Yeah. I got there. I was by myself. And I just, I got there and I
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  just thought, Oh, my God, this cabin's so beautiful. Oh, my God, this view is insane. I was just
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  so excited. I took all my clothes off and ran up the top of the hill. I was just looking out at
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  the video, like, this is loving. And then I saw this flashlight. And I was like, Oh, fuck,
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  like imagine if I'm here, no. And then there's just people coming for a look out or something.
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  So I was like, yeah, I've been down and then I was like, it was just the sun, I think, coming
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  through, not actually there's no one around. Well, like kids on a school trip and they're like,
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  and over here we have it all. Oh, gosh, well, I'm glad you enjoyed it. Anyway, finance news.
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  But do you want to talk about your weekend? Did you do anything fun? Just a chilled,
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  very chilled, which is nice. I just didn't really have much motivation to go see anyone
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  or do anything, which was surprising considering about to leave to go back to London. Yeah,
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  kind of cool. Yeah. Yeah. No, I just just chilled. It was really nice. I did contrast therapy
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  for the first time. Oh my god. How amazing is it? How long did you say that? I've booked in for
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  another, I booked in for another one. Two minutes. Woo. And this is actually the longest
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  two minutes ever. I reckon. Anyway, we have Taylor Swift in Australia at the moment. Oh my god,
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  my bloody tech talk algorithm is all Taylor Swift. I'm kind of enjoying it by kind of getting
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  annoyed because I had to do a leaper for ages. Every time I go into my explore, she'd be like,
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  humping her microphone stand like something, something and do. And I was like, God, she's good
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  at this. I just must have kept watching. So the algorithm was like, she loves this clip. Yeah.
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  Oh, Taylor Swift. She's got seven shows in Australia and there's all this talk about this
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  little bit of mini inflation that Australia is going to see. So from the seven shows in Sydney and
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  Melbourne, it's expected to add about $1.2 billion to Melbourne alone just from the shows in Melbourne,
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  which is nuts like that's people flying to Melbourne. I've had friends that have flown to Melbourne
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  to watch it from New Zealand to like go to her show. Like if you think about the accommodation,
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  the flights, the food, the tickets, like all of that stuff is money being poured into Sydney
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  and Melbourne at the moment, which in times of a cost of living crisis is actually a much needed
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  boost for for any city really. So it's having a huge impact, which is which is great. But what
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  economists are saying is that like the inflation figure might be quite high for this quarter or
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  this this month in terms of inflation. So they kind of like, don't read into it. It's just the
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  Taylor Swift effect. But I'm just like baffled that she is moving economies. Like how incredible
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  that one female, one young female can have such an impact on economies like anywhere she goes. I'm
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  just like, it still baffles me. It is crazy. Yeah. Like what would be the equivalent would queen
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  that much of an effect or like you know, I don't honestly don't reckon there's anyone in her
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  spring. Spring spring. No. Taylor Swift, the impact she has on a super bowl, the impact she has
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  on the countries she visits for concerts, the impact, like it's just honestly like everything
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  she touches. I'm just saying, well, yeah, it's quite crazy. Imagine if she'd come to New Zealand,
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  where would it be quite good actually? Could you please come down here because we need to get out
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  of a recession. Really like you to come visit us Taylor. It's government could just sort that
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  out. That would be really good. Yeah, that'd be great. Thanks Christopher Luxon. If you could please
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  just prioritise the important shit that would be great. Yeah. And we would all be in a much better
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  mood as well because we'd all be rocking out to Taylor Swift. I've so many. I really like bad blood
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  just because there's like so much drama behind it, you know, because now we've got bad blood.
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  Interesting. Yeah. I love her songs. Anyway, so Goldman Sachs, have you heard of Goldman Sachs,
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  off? Yeah, but I always think that it's like a fashion brand or something but it's definitely
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  not. Is it? No, it's one of the largest investment banks and it's kind of like whenever you think
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  of a broker or a Wall Street, you think of like Goldman Sachs, like they've been around for 155
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  years now. They're one of the main investment banks, global investment banks. But anyway, so there
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  is a lady there that has recently left this week and her name is Beth Hammock and she was picked to
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  be the next CFO, so the Chief Financial Officer. She's been there for 30 years and she was on
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  track to be CFO and she just left this week and why? No, this is everyone's kind of asking why,
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  but the fact is that Goldman Sachs, no woman has ever been appointed to the role of
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  chairperson, Chief Executive Officer, President or CFO of Goldman Sachs in 155 years. So there
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  hasn't been one female leader in that business and she was primed to be that first woman and she's
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  just left after being 30 years of climbing her way up. She was sick to break that glass ceiling
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  and she's left. So why the fuck is she left and also can we get it on the podcast? I'm dying.
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  I know. I know. I would love to know that and it's like I think she would have some
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  as she said anything, like has she gone out to the media? No, not yet. So that would be a debacle
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  for them. Wouldn't it? Yeah, like PR nightmen who would have been the token. Well, we've got women
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  in positions of power and now she's gone. Exactly, exactly. Yeah, it's like Goldman's has put out
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  a statement there like, you know, we are all about diversity, we're all about increasing women
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  into global leadership roles and more senior roles and then they can't even keep one that's been
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  there for 30 years and has got pretty much to the top. So it's quite a scandal. I'm going to watch
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  this and see what happens, but also I'm sorry. So this is one of the top investment banks. So this is
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  they control billions of billions of dollars and invest billions of billions of dollars
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  of a half of a half of clients, banks, pension fund, superannuation funds, all of that.
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  And to think that they have no gender diversity at the helm of that business,
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  just think of the people that are making those decisions on our behalf of where that money should
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  go and what world we're trying, what they're going to create for us. Like I'm just like,
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  oh, we need to change the narrative and we need to hurry up and we need to do it so quickly. Yeah.
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  God, well, what can we do? Women need to get into banks or just investment banking.
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  Just in finance and just go for senior leadership roles, but also men in senior leadership roles
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  need to create environments. Yeah, we'll just create environments for everyone. Not just people
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  that look like yourselves or are yourselves, you know, just yeah. God, it grinds my gears.
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  I'm not trying to complain anymore, but what I will say is the other day I was at Norma Taps,
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  I think it's called in the CBD in Auckland, having a beer with an old friend and the guy who
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  owned the bar came up and was like, hey, I just want to introduce myself like me and my wife
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  listened to your podcast and loved what you do blah, blah, blah. And I was like, shut that's
• 10:19
  cool, that you're a guy and you're listening to our podcast and you're supporting your wife
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  through her own financial empowerment journey and you're doing it together and there's this
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  collaborative energy and it's, I mean, I know that there are some guys that listen to the podcast,
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  but maybe something that we could do that might help speed the narrative up is like,
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  try and talk to guys whether it's not necessarily like listen like a podcast or that would be
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  the effect, but it's more, I think what can be a problem is when you're in an echo chamber of
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  people that already understand the problem. Like most people listening to this will be women who
• 10:52
  get it. What we need is guys who don't to understand and listen, you know. And realize the impact
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  and that they can realize. Yeah, you realize that it's a collective force. It's not just me
• 11:05
  against you or you against me or us against them. It's literally we all need to do this and
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  I think we all need to be educated about the benefits of having diversity in any situation.
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  I agree. It's not just to take a box. The reason why diversity is so important is because
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  collaborative brains and different backgrounds and all of that stuff contributes to a well-rounded
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  company, which means more money, which blah, blah, blah, blah. You know, it's not just as simple as
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  trying to make it a pair of certain ways. Also, yeah, understanding why that's good.
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  Let's do a whole conversation on this. Maybe international women's day. Watch this space.
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  In other news. So if I was to say so. Oh, I love it when you start. I love when you start
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  them like this. Taki, sushi, jeffery, blossom, Japan, Japan, Japan, Japan, Japan. I love
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  food. I can't wait to visit. Oh, gosh. Great fashion. Just like cool, cool people, cool people.
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  They do a school trip there. Yeah. Well, we have reason to now because their stock market has been
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  one of the best performing in the last two months of 2024. Their stock market has gone absolutely
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  bananas. So this was where Buffett did something. There was a bit of that. Yes, but it's also just
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  everyone's kind of waking up to the fact that like hang on a second. Japan is actually looking
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  quite good now. So if we take a step back, Japan was kind of plagued with an aging population.
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  So people weren't really having children. There was lots of a lot more older people. The newborns
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  or new younger people. They had very strict immigration. So they weren't allowing workers to come
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  into the country. All of this really fuelled into having, I guess, low growth. They weren't
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  producing a lot of output. Their global domestic product, their GDP, which is the way that you measure
• 12:59
  a country's output, wasn't growing. All of these factors, there was deflation, which means
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  that's not good for an economy because that prices aren't growing at all. They're going backwards.
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  Because they're meant to go up at least 3% a year, right? Roughly 3% a year.
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  To encourage spending and that encourages people consuming goods. Therefore, more goods getting
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  made. All of that contributes to a productive economy. So all these other things, the opposite
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  things were happening in Japan. Now that's seeing a bit of a turnaround. To be honest, a lot of people
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  were like, China's way more interesting. It's much more fast growing. I'll invest in China
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  over Japan. China's got its issues from an economic standpoint. Things are starting to look
• 13:45
  up for Japan. The Nikkei 225, which is, it's like the S&P 500. It's the top 225 companies in Japan.
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  Nikkei 225. We've never talked about this. We haven't. That's their main index. Japan's main
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  index and it's up. Like I said, 20% so far this year. And 40% in the last 12 months.
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  Holy. What does the main company say? Toyota, Mitsubishi, Sony. It's a bit more of like an
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  old world. Older world index, I guess. There's not the likes of your Amazon. It's not super
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  innovative. No, it's not like tech focused. But surprisingly, so the S&P 500, so the US
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  main index is only up 7% versus Japan's 20%. So people are sitting up and listening,
• 14:40
  going, hang on a second, what's this Japan thing? Should I be investing in it? And have you
• 14:45
  invested in Japan? I have. I've actually invested in a Japanese ETF. Cool. I did it when
• 14:51
  Warren Buffett did. I love that. Just being a little copycat investor, which I wouldn't
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  recommend. But was it just like a general ETF? Yeah. So there's I shears MSCI,
• 15:04
  Japan ETF on shears, if you know what I'm saying, shears is not financial advice,
• 15:08
  it's not financial advice. No, no, no. But yeah, there's lots of Japan ETFs out there,
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  because I don't know what Japanese companies are going to do well. I don't have time to
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  research them, but I'm like, you know what? Things are looking pretty good in Japan at the moment.
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  I love that you're taking Warren Buffett's hot tip, you know, kind of what's happening here.
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  This is the first time I've ever heard you doing something like this, actually. I kind of want to
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  go to Japan. I think I might go to Japan. If you go to Japan, you've got to go home right,
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  because it's so close. It's so close, yeah. Do you know it's the same size as New Zealand?
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  There's a fun fact for you. Yeah. It's like our sister country. Oh, what a cool sister. Do you
• 15:46
  reckon Australia is kind of like the smelly teenage brother? Yeah, but you kind of don't want to
• 15:51
  be so scared of the virus about, but like, you know, he can kind of... I think it's kind of so
• 15:55
  so fun. I did a talk the other week at Diocesan School for Girls, Dio, and both of us, we said
• 16:02
  cupboards, which is like the sister school at the rivalry, and the teacher there blessed her heart.
• 16:07
  She was like, did you guys go to say cups? And we were like, yes, we did. She was like, oh, we
• 16:11
  refer to that as the green school up the road, because we had green uniforms and they had blue.
• 16:16
  But I kind of feel like it's like Australia, New Zealand. You have rivalries, but if, you know,
• 16:21
  your friends at the end of the day, like a lot of my friends went to Dio, you know? Can I just
• 16:25
  also tell you something and say that was like the most humbling talk we've ever given, wasn't it?
• 16:30
  Like to get them to pay attention, you had to basically be like dancing, swinging your hands
• 16:34
  around like it was, to like to keep their attention. It was all good. It was their lunchtime.
• 16:41
  Like I would have hated to listen to two girls without financial education when I was 15,
• 16:46
  but blessed their heart. But at one point, I was like, right, I'm going to have to pull out all
• 16:50
  the stops here, like no one's listening. So I was like, right, here's an example. This is why
• 16:54
  you need to invest. I was like, now we look at the two people we both drove here separately,
• 16:59
  that turned up in her beautiful black Audi. What kind of did I get here in? My red Honda
• 17:04
  jazz that quite literally stopped in the motorway the other day and they were all like, okay, I get
• 17:08
  it. I didn't have to invest, because one of them invested the other, didn't she still driving a
• 17:14
  ship box? They paid attention after that, I feel. Yeah, good, good ploy. So if good ploy.
• 17:21
  In other news, we've talked about stock splits. So this is when a company's share price does
• 17:27
  really well at that company might split the shares in half, but the price of the share halves as
• 17:32
  well. So you've got an increased number of shares, but the price is a lot. So the overall
• 17:37
  amount you invested is still the same. So this is happening, or about to happen, sorry, in the
• 17:44
  Bitcoin space, the crypto landscape. Yeah. So Bitcoin is having a halving event. No, that's
• 17:52
  expected to occur in about May. So it's kind of like a stock split, but for Bitcoin. So the thing
• 17:59
  with Bitcoin and the reason why or cryptocurrencies as well as the in general is that there's only
• 18:05
  limited number that is produced. And so this is why the price increases when people demand it more,
• 18:10
  because there's only limited supply of coins. And there is a lot of increased volatility. So there's
• 18:16
  a lot of increased movement up and down in the months leading up to these harving events. So it's
• 18:22
  just something to be aware of. If we start to see Bitcoin going up and down a lot in the next
• 18:26
  coming months, that is why because there is a harving event that is happening. Harving event sounds
• 18:31
  real hunger games. I know it does. Yeah, like super weird harving event. The price of Bitcoin is
• 18:37
  actually up to over 50,000 US dollars a year. It's up a hundred percent. And since 12 months ago.
• 18:44
  So it's actually done amazingly well. So we'll probably hear a lot of finance bros talking about
• 18:49
  Bitcoin now again. This is doing so well. This is what happens with Bitcoin. Everyone talks about it
• 18:54
  when it's doing well. No one talks about it when it's not doing well. That whole FOMO trade,
• 18:58
  you know, fear of missing out. So everyone just wants to jump on the bandwagon. But as soon as you
• 19:02
  hear a taxi driver talk about it, sell, sell, sell, sell. I quite like that analogy. Again,
• 19:09
  not financial, but because it means that there's no one else. Everyone's bought it. So who's
• 19:14
  going to be the next person that's going to buy it? So that's kind of the analogy that we're
• 19:18
  getting at. Is that yeah. Everyone's bought it. It's going to be the highest it's going to get.
• 19:21
  So there's no point in buying it. You're not going to make money. You may as well sell.
• 19:24
  Exactly. So fee. Oh, such a little prodigy. I know. I really, I'm quite proud of that. I might say.
• 19:32
  Even the talks we've done lately, do you find, I mean, sometimes they go off on the tangent,
• 19:36
  but I explain it pretty well. Sometimes I'm like, that's wrong, but actually,
• 19:44
  how do I know that you could invest in Disney plus? You could, and I'm like, it's Disney,
• 19:49
  it's Walt Disney. It's not Disney plus. It's semantics. It's semantics. It's nothing like it.
• 19:54
  I'm really proud of you for letting that go. That would have been hard for you. Yeah, yeah.
• 19:58
  No, but I'm also like, hey, I could just sit back relax and enjoy the show. Yeah, enjoy the show.
• 20:04
  Speaking of shows, I hope you've enjoyed this show. I'm good because we're on YouTube.
• 20:08
  Oh, no, I mean, the show is in this podcast show. Well, if you're on YouTube,
• 20:13
  and you maybe want to see at one point in this episode, I lead back to the piece of gum,
• 20:18
  and then spread it out because I had coffee. Yeah, you didn't notice, but if someone's
• 20:23
  watching this video, they will see that. We saw me pick my nose too. Oh, I saw that.
• 20:29
  Someone commented on the Instagram post that we put up being like, we're on YouTube,
• 20:33
  and someone goes, can't wait to see the facial expressions. I'm like, yeah, that is a problem for
• 20:38
  me. My face has got to be really intense. Oh, no, I was going to say, man, it's too overexpressive.
• 20:44
  You know, like it could just come, man. I just like to drift out of it. And I'm like, come on,
• 20:48
  come on, come on. Yeah, you have more of a riching, riching, bracing, but also probably rich face.
• 20:55
  A little bit. Is that a compliment? I've got a rich face. Thank you.
• 21:01
  Don't even know what it looks like, but I'll take it. Do you think I've got a rich face, I think?
• 21:05
  Okay, I've got to go. Okay, bye. Love you. Love you, bye.
• 21:10
  Thank you so much for listening to The Curve Weekly. Make sure you hit the subscribe button
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  and see you next Monday. Bye. Bye. See you next Tuesday. Well, see you next Tuesday. I mean Monday.