Latest / The Curve / Luxury Just Made A Comeback.

Transcript

Luxury Just Made A Comeback. · The Curve

• 0:00
  Welcome to the Curve Weekly. This is our weekly podcast where we are reading the finance
• 0:05
  news so that you don't have to. I'm Vic Harris, a financial expert. I'm Sophie Hallwright
• 0:09
  and we are still figuring out my byline. I'm not the finance expert but learning alongside
• 0:13
  you. And in today's episode, what are we speaking about Vic? We are talking about the possible
• 0:18
  trade war 2.0 between the US and China and why the stock market is not loving it. We're
• 0:23
  talking about every runner's favourite app, which is actually going public, and one sector
• 0:29
  bits having a big comeback. Vic, you really deserve a crown for this. When I saw this in
• 0:34
  the news, I thought, oh my god, Vic knows what she's talking about. Cash Isis in the UK,
• 0:38
  there's been some big movements there, we'll explain what's going on. And we're finishing
• 0:42
  with a bit of Taylor Swift. Yes, oh my god, this is really good. She is. Okay, let's start with
• 0:47
  the trade war. Oh hi everyone, sorry we're a bit late, we're a whole day late. I'd
• 0:55
  self-produce Emily, she was vomiting or something last Friday. I'd dare she. I know. We have a
• 1:00
  podcast. What are you doing? I want to listen. Taking a day off work, you're joking. It was so funny
• 1:05
  when you messaged, being like, I'm sick, I'm like, oh, that sucks. You know, like, obviously take
• 1:10
  as long as you need. Completely forgot about you to tell me. I know, same. And I thought it was
• 1:14
  and she said, oh gosh, what are we going to do? And I was like, oh, what do you mean? We're just
• 1:17
  we can just record. And I was like, oh, I forgot. That whole thing that takes a whole day to do.
• 1:22
  Yeah, and then it was kind of panic most. I wouldn't she be kind of interested to know,
• 1:27
  because obviously this is now coming out on a Tuesday. Like, we're just looking at different days
• 1:31
  to release podcasts. It's a long story, but it doesn't. Would it throw people if we were to all
• 1:36
  of a sudden be releasing the COVID-19 on a Tuesday instead of a Monday? I would really like to know,
• 1:41
  maybe they put a poll or something. Can you vote? Do you prefer listening to your news first thing
• 1:46
  on a Monday? Or do you kind of not care? It's Tuesday fine. Because we're used to do Tuesday.
• 1:50
  Yeah, I don't know why I kind of we recorded on a Monday morning. And then that was just like
• 1:55
  I think it was just because it was a Monday morning. I think we're recording on a Friday's way
• 1:58
  more far. I'm saying morning. Yeah. Where it's Friday. It's a weekend. I'm tired. So lots.
• 2:06
  Yeah, there's been so much going on. Should we start with the trade wars? Trade wars.
• 2:11
  Is it plural or what? It's just one. Well, it's 2.0. So yeah, I guess you're kind of right. It's
• 2:17
  the second iteration of the same existing trade war between the US and China. I'm kind of
• 2:22
  fine with this story. I'm so sick of it. What would we talk about though? If it's not Trump,
• 2:27
  China, America, I was thinking this the other day. What did we used to talk about in the curve
• 2:32
  weekly before Trump was in power? I know. He's really giving us a lot of content. It's probably
• 2:36
  Elon Musk. Oh, you're right. Yeah. And Taylor Swift. Oh, yeah. And the news today. Don't worry,
• 2:41
  guys. We've got a Taylor Swift update. Yes. So last week for anyone who missed it,
• 2:45
  there's some P500. The top 500 companies in the US had quite a bad day. That's about 3%,
• 2:51
  which doesn't sound that bad. But in one day, that's quite a big move.
• 2:55
  And so this is the whole S&P 500, right? So if you looked at every single company,
• 3:00
  they were down 3%. No, not average. So yeah, if you added together all the returns of
• 3:05
  those 500 companies, yes, it would be down 3%. So if you looked at a graph and you were looking
• 3:09
  at S&P 500, which generally goes up and down and up and down, it's like a little,
• 3:13
  what's that? Is it a metronome? Is that that thing that scribbles? It's like a lie detector.
• 3:18
  You know in movies where you see, and they're like, did you or did you not tread on your husband?
• 3:22
  And it's got a little scribbly line that's like going like this. Yeah. And if someone's lying,
• 3:26
  what is it called? Polygraph. A polygraph. And it goes up when someone's like, no, I didn't.
• 3:30
  And they did. This is kind of what the stock market does. It just like ziggles up, ziggles down,
• 3:34
  ziggles. God, it's a process there. It's like everything's great. Everything's great. Oh,
• 3:38
  no, it's not everything's great again. Oh, yeah. And there was a big. And the reason was,
• 3:45
  so this tip for tat was China going on in the US. And you know, the US was like, okay,
• 3:49
  if you're exporting your goods to the US, we're going to save it with a huge tariff. That's what
• 3:52
  happened in April. China's turned around and gone. Okay, you know, if that's what they done.
• 3:57
  If that's your bite, we're going to put really tight export controls on real earth metals.
• 4:02
  So that is things like gold. No, uh, lithium. So like, think about, yeah,
• 4:07
  trees. So lithium is like graphite as well as one of them. Those are the minerals that go into
• 4:15
  the semi-conductors and all in the batteries and everything. Oh my god. So they're going to like
• 4:21
  the first part of the value chain and being like good luck out there. And that's that's what's
• 4:26
  used to power pretty much every electric vehicle in every smartphone. Does all of that come
• 4:31
  predominantly out of China? 90% of the global supply comes from China. So this is a big
• 4:38
  to the US. Then the US retaliated and said, okay, we are going to put a new 100% tariff on Chinese
• 4:47
  imports. And it was accusing China of manipulating like global supply chains. And anyway,
• 4:52
  I'm like, when will this end? I'm so here for it. I know that this is absolutely the most
• 5:00
  bratty attitude to have ever, but I'm kind of love it. Like get the popcorn. I just get, like,
• 5:05
  we're the ones that suffer, right? Right. You know, it's so frustrating. It's how you're kind of
• 5:10
  caught in the middle of this drama that you don't want to be a part of, but you're dragged into
• 5:15
  it's kind of like being the best friend when like two people break up and your friends with both
• 5:19
  sides of the, but the couple and you're like, he said this and she said that and you're like,
• 5:23
  guys, guys, guys, guys, guys, guys, guys, guys, guys, guys, guys, guys, guys, guys, guys, guys, guys, guys.
• 5:26
  But how will this affect people? So does this mean smartphones will get more expensive?
• 5:30
  Well, hopefully they'll sort it out because we all know that Trump kind of comes out with something
• 5:34
  and then actually what actually ends up being implemented is not what he initially comes up with.
• 5:40
  You know, like even the even the trade war and the tariffs back in April, you know,
• 5:44
  it was a big song and dance and then what actually got implemented was way, way less. But
• 5:48
  investors did panic and were like, oh my goodness, and stocks, particular tech and export heavy
• 5:55
  stock. So if you think of like Apple, Boeing, Ford, they all hit the hardest and then like electric
• 6:01
  vehicle companies, semiconductor companies, all the companies that were would be impacted the most,
• 6:06
  fell the most. And safe assets like gold, gold, gold, gold, gold. No, the answer.
• 6:15
  It's Guy Rocket, yeah. We put an episode into the investing club, which will be released
• 6:21
  publicly, I think this week. But if you want access to it ASAP, it is a really good episode to
• 6:26
  understand everything about gold, what's going on. Because it is one of those things where
• 6:30
  it's going up and up and up, right? But you have to decide if you want to invest in it or not.
• 6:34
  Some people when it's skyrocketing and not going to be jumping on the bandwagon,
• 6:39
  but you might want to, because I guess this could keep going and that would mean gold would keep
• 6:43
  going up. Yeah, more, more headlines we see like this just fuels gold as an investment because
• 6:49
  it's just going up and up and up. What are the flow and effects for consumers with this? Like,
• 6:53
  what are things that are going to get more expensive? I think more broadly, like it's hard to see
• 6:57
  where this will land, right? Will it be 100% tariff, will it be 50? But I think broadly,
• 7:02
  it's just going to mean slower growth globally because goods aren't able to flow as
• 7:09
  efficiently as possible. So the world is just going to slow down in terms of growth.
• 7:14
  We're also, sorry, I just looked at my disgusting. This is from me getting caught in the rain.
• 7:20
  I've got a wet sock in show and there's like brown socks all over us as white socks for me.
• 7:25
  Someone told me so in the weekend I wore white socks with my loafers and I was quite embarrassed
• 7:29
  about it. I was trying to like cover it with my pants all night. I'm going to say to me,
• 7:32
  no, no, that's a lock. The white socks with black shoes is the Michael Jackson lock and you should be
• 7:37
  doing it. So if she does it. So here we go. And now they look very disgusting.
• 7:44
  I'm going to use my hair now. So just means slower overall growth for the globe, for the whole
• 7:50
  world, essentially, because everyone's affected by this. Yes, China and the US are fighting, but
• 7:55
  consumers, companies, different countries that everyone's affected. Can you be more specific
• 8:01
  because when you say, I don't know, but you know, when you, okay, come down. But you know,
• 8:07
  when you say we're the ones that are going to suffer from it, how? Lying inflation. Okay,
• 8:12
  thank you. Yeah, yeah, yeah. So we're talking about a hundred percent tariff here on the first
• 8:17
  part of the supply chain for let's say a smartphone. That could come down to 50, but that's still
• 8:23
  50 percent more than what it was, you know, to get those rear earth minerals. I don't know what
• 8:30
  of that can be, I guess, recovered in that supply chain before it gets to the end consumer.
• 8:35
  But overall, it is now more expensive to make that smartphone. It's just going to make everything
• 8:41
  more expensive, is essentially the underlying inflation. And a lot more volatility in the stock market.
• 8:46
  I must say, I feel like the tip for tar and the stock market having its ups and downs is quite good
• 8:52
  for investors like us who are looking for maybe we have our eyes on different investments that we
• 8:57
  haven't bought because we felt like we've missed it. When the market falls, I'm not saying you,
• 9:01
  obviously, want to be timing it. But if you're a long-term investor and there's something that you've
• 9:04
  wanted to invest in for a while, but it's been up and up and up. If news comes out that I don't know
• 9:10
  China's throwing it's always, I was going to say dick, but yeah, anything around. Sorry, maybe
• 9:14
  that's what I'm saying. Yeah, the point is that that means that you're kind of getting a bit of
• 9:19
  discount. This is the time when there's market volatility and by that I just mean, you know,
• 9:24
  when the market moves up and up and down, up and down, up and down, more often, that is when
• 9:28
  active managers are buying and selling. That's when they output, or they do better than just
• 9:34
  buying an ETF or buying an index fund because they are there and you're paying them to do that,
• 9:39
  right? To go and buy and sell at different times, you're paying them to kind of be the professional
• 9:46
  and spot this and like, okay, well, what's going to benefit? What's not? And whereas when the stock
• 9:52
  market just goes up and up and up and up and up and up and up and up, like really steady,
• 9:55
  it's really hard to take advantage of those ups and downs. And when you say active manager,
• 10:02
  you mean someone that's professionally managing your money. So if you've given your money for
• 10:05
  someone else to manage like what you used to do, it's in moments like that when you can make
• 10:10
  decisions and as a long term investor, if you're just putting your money in the stock market and
• 10:14
  putting it in there and leaving it, you're not going to be buying selling, but it's not the point.
• 10:18
  And that's why we haven't had a lot of volatility over the last, you know, like yes,
• 10:22
  we've had pockets of it, but like in the scheme of things over the last even like 10 years,
• 10:26
  we haven't had a lot. So is that why active managers versus like so many people now investing in ETFs
• 10:34
  or whatever, they've actually done quite well because the market's just done well. So there's
• 10:38
  there's almost not been that many opportunities for active managers to outperform the market or do
• 10:43
  better. Ah, that's so interesting. So it's at times when things are shutting itself that it's
• 10:49
  really quite helpful to be with an active manager. Yeah, because all you're doing when you are
• 10:53
  buying an ETF for, it's just like following the market, right? Whereas if you can try and sell,
• 10:59
  sell some things in your portfolio or sell some things in a fund, you know, before they actually
• 11:05
  fall even more. And then if you're able to buy the right thing, yeah, you're just trying to
• 11:10
  backstocks that are going to do better than the market. Yeah. Okay. Okay. Does it make you
• 11:15
  miss active management in moments when it's all turning to custody? Do you like move up every
• 11:20
  front? I know what to do. A little bit. I mean, I probably still do that with my own portfolio,
• 11:28
  right? Like I'm like, oh, yeah, yeah, yeah. But it was so funny. Before this little wobble,
• 11:35
  I was lying in bed literally the night before and I was like, oh, some of my stocks have done
• 11:39
  so well. Like that's just, you know, enough. So you nearly sold. And I was like, the likelihood of
• 11:43
  them going up another 40% versus like something coming out, you know, like I was like, oh,
• 11:49
  and you didn't sell it. And I didn't. But, but they've recovered now. So I'm kind of like, you know,
• 11:54
  either way, you know, it doesn't really matter. Like I didn't do anything. It hasn't,
• 11:57
  hasn't made me nervous, but yeah, it is a good reminder that sometimes, you know, not timing
• 12:03
  the market is also really good. Sorry. But it is, I don't know. For me, I'm like, when things have
• 12:07
  done really, really well, like gold, like the graph on gold is just exponential. And that is what,
• 12:13
  excuse me. And that is why I'm like, oh, that's why you need to listen to this. So we'll put a link
• 12:17
  in the poker show notes. If you want to listen, it's a really good time because there's a lot
• 12:22
  happening with this particular asset right now. And it's not the kind of thing that's probably,
• 12:25
  you just don't know what's going to happen. So if you want to full deep dive on that,
• 12:29
  click the link in the poker show notes. It'll take you to the investing club, which is where we've
• 12:32
  put that specific episode. We recorded it last week. It was all quite exciting, all very exciting.
• 12:39
  Any runners out there? Everyone is, no, this is every runner's favorite app, isn't it?
• 12:44
  Most people. Most people. I don't like it. Okay. So this is the thing. I've got one of my cousins,
• 12:49
  actually, she lives down in the South Island in New Zealand and she has gotten to biking.
• 12:53
  It's quite funny because if you put your driver on when you're biking, you can basically rewatch
• 12:58
  what you've done. And it follows this little squiggle, but you also get to see the 3D version of
• 13:03
  where you went, which is quite cool. So you're traveling and you're doing a random hike around,
• 13:08
  I don't know, the Italian cliffs, and you put your driver on, and you can, like, I forget my
• 13:12
  whole life. How great to track that. I just don't like it. So we're talking about driver,
• 13:16
  everyone. I don't like how it's public. I'm such a slow runner. Oh, so you've just got an
• 13:22
  ego problem. Yeah. I don't want to share it or accidentally share it, you know. And then
• 13:27
  everyone's like, oh, fuck. I've come, I've become a runner in the last two weeks. I ran 12 minutes
• 13:34
  the other day and I thought, yeah, so that is stunning work for me. I'm so proud of myself.
• 13:43
  I also hate that when I'm running and I'm like, God, I run so far. And then you look on
• 13:46
  driver, it's like 1.3 dollars. Okay. Cool. You used to run a lot. I locked down. I really got
• 13:53
  into it like a real other person with sourdough and stuff as well. But had you fallen off the running
• 13:57
  bandwagon? It's just hard with a dog that doesn't run. Honestly, my driver would be like,
• 14:03
  was I running here and then come back and get her and then run her here again?
• 14:06
  I'm sorry. It's all private. You don't choose if it's public or private. It's always public.
• 14:10
  No, you can't, you can choose, but I just get worried that I'd accidentally. Anyway, sorry,
• 14:14
  we moved off. I did have it. I don't have it. And it is about to IPO. It's about to IPO.
• 14:18
  Which I feel is very excited. Yes. I was not convinced on the set when it first came out. I didn't
• 14:23
  think it was going to go anywhere. Everyone's like talking about a driver like five years ago.
• 14:27
  The fact that it's still going and doing well and it's about to go public is quite cool.
• 14:32
  No dates been confirmed yet. But these IPOs, like they come out in the press, they're like,
• 14:35
  we're going to IPO and then all of a sudden, they're just like public companies and you're like,
• 14:39
  what? They turn around. They don't give you a date of like, we're going to IPO.
• 14:43
  Oh, really? On the 10th of whenever. It's just like, all of a sudden, they're just like,
• 14:47
  why is that? I don't know. Did you know when you were a asset manager? Did you get told?
• 14:52
  The certain ones? Yes. Yeah. In the US, it's quite different. But in Australia and New Zealand,
• 14:57
  they come round to you first and be like, hey, do you guys want in on this IPO? So they go around,
• 15:03
  they kind of shop the IPO around and you'd say, yep, cool, we're in for like 10 million or whatever
• 15:09
  and they do that with a few other institutions. And then they've got kind of, I guess,
• 15:14
  like the bulk of it done essentially, the bulk of the money they want to raise, they've already
• 15:18
  got like committed. And then they go out to retail and they'll go out to the likes of shazies or
• 15:24
  like trading platforms around the world like, hey, do any of your users want in on this IPO and
• 15:30
  then they'll be like, yeah, cool. And so yeah. And that's why Reddit was so interesting,
• 15:34
  because they didn't do that. They went to their users. Which is so bold. The amount of confidence
• 15:40
  to know that you don't need to do that because really it's a safety net. They're going and
• 15:45
  committing all that money because they don't know if they're going to get it from their audience.
• 15:48
  Yeah. It's like when so many businesses go and raise, they say, they're like, oh my god,
• 15:53
  we're going to a community and we're going to get, do this big fundraiser, but actually,
• 15:57
  they've got 99% of it already sourced to not do that with Reddit. And then Reddit's IPO did
• 16:02
  really well. It's done so well. Is it still doing well? Yeah. Wow. About 300% just over a year.
• 16:08
  God, that's insane. Power to the people. But also, who uses Reddit? Do you use it?
• 16:15
  It's got amazing SEO. When I Google the weirdest shit, Reddit is the first thing that comes up.
• 16:20
  Yeah. You know, if I'm trying to find out something, it's always Reddit that comes up.
• 16:24
  Yeah. It has done really well. There's reasons why this is kind of a guess a good indication.
• 16:29
  Like it's a great indication of the health of a market. You know, when you start seeing
• 16:33
  more and more IPOs, it's a really good sign because it means that the stock market is in a really
• 16:38
  good place in terms of like people are wanting to IPO. Like you don't see people wanting to IPO
• 16:44
  when the market's down because you want, again, you not only want that support from like institutions
• 16:48
  and like, you know, that kind of committed. So there's a big, like green flag, the whole stock
• 16:53
  market base. Well, like the more that you see popping up, like if you're, yeah, it's healthy for
• 16:58
  the like economy, it's healthy for the stock market, having more and more IPOs because it also
• 17:03
  just creates new and fun things to invest in. So it creates interest from investors. And
• 17:06
  this is why it's so dire in London at the moment because the London Stock Exchange is having
• 17:13
  the opposite effect right now. People are just like, people are just like, you know,
• 17:16
  the stock exchange, the US has done better. Like why would I IPO on your market when I can't
• 17:21
  a little bit worried? Maybe this is me being really doomsday, but I'm slightly worried that
• 17:26
  all the other markets are going to eventually just have to close down and there's only going to be
• 17:31
  a US stock market. Like imagine if there was only the S&P 500, the NASDAQ because
• 17:38
  why if no one is excited about going to other stock markets and everyone starts flocking to
• 17:42
  the US. New York Stock Exchange and the NASDAQ. Yeah, just the idea of there being like everything
• 17:46
  being centralized from America. Because why are we asking? We are kind of seeing that, right?
• 17:51
  I know. With like, with the other week when we spoke about the 25 out of the top 25 most
• 17:57
  valuable companies, 20 are in the States. Like, we're already seeing that consolidation.
• 18:00
  But this is a really good theme though. Running has become massive over the last few years. Like
• 18:08
  strivers like just in the sweetest spot in terms of leveraging it. But like Gen Z, like running
• 18:13
  has just become so massive. Like marathon drop Gen Z in there by the way. Was there part of it?
• 18:18
  Okay. Yeah, it was just like sort of sound like you're trying to know what's going on with the
• 18:21
  young cool kids. But I was like, what is Gen Z doing that we know about? Especially amongst
• 18:25
  Gen Z. Really? Do you think it's like classes and even there's so many?
• 18:29
  So it's like an easy quick exercise. I think we ask the Gen Zs, right?
• 18:38
  That's why are people running more? Does anyone know? Health and wellness?
• 18:41
  Once again, I'm going to pass them on. Yeah, as Bix said, way more emphasis on health and wellness,
• 18:46
  working on yourself, not going to the pubs as much. I think that people are focusing on themselves
• 18:51
  and so going out for a run, going to the gym. I even look in my gym and I'm like, it's a full
• 18:55
  of young people, people that are younger than me as well. Honestly, 15 and 60 runs dominate the gym.
• 19:01
  And I feel like it's just because there's this whole thing of working on yourself.
• 19:05
  And we have a new recruit Thursday today in Australia on the podcast.
• 19:10
  We're really throwing in the deep end. We're like, come in for the record. This is literally
• 19:13
  the first hour of work. And we're like, thoughts, can you maybe talk on the podcast?
• 19:17
  So, but Lucy, we would love to know. I mean, you're technically sort of a Gen Z. Why do you think
• 19:23
  people are running more? Why is it so big of monks at the youths?
• 19:27
  So I much like that got into running during lockdown. And I actually stopped when I moved to
• 19:35
  London because it was just so dark all the time. And it was, I was hard for me to find a running
• 19:40
  route. I think I'll get back into it now. But a lot of my friends use Strava. And I feel like
• 19:45
  they use it in a way that's like Instagram. They love seeing what everyone's doing. Everyone's
• 19:50
  running. I never got into Strava. I use the Nike running app because you can just track your
• 19:55
  running and not have to post it anywhere. It's definitely like a social thing. And people love to
• 20:01
  see where everyone's going and what then their running routes and things like that.
• 20:04
  Exactly. Why I cancel my account. Yeah. I love the Nike running app because it just tells you
• 20:10
  to keep going. There's this trainer that's like, come on. Keep running another 20 metres. I'm like,
• 20:15
  thank you so much, Jeff, whatever it is. Yeah. I remember doing, like in lockdown, doing exercise
• 20:21
  at home. Like a, I think it was like a Les Mills workout. And it was like lockdown had just started.
• 20:26
  And I was like, yeah, I'm going to get online. And anyway. And then that thing struck just like,
• 20:29
  come on, Sweden, you can do it. Do you remember me doing doubts classes during lockdown?
• 20:35
  Oh, yeah. You're like, come on. You should join. I was like, but it was like, I actually couldn't
• 20:39
  think of anything worse than doing your doubts. I was like, I was like in the kitchen, like pump it.
• 20:43
  Yeah. Work it. It's like, absolutely not. Never joining. Okay. I'm like, I can't escape.
• 20:50
  Okay. So, like even marathons around the world have had like massive spikes in attendance.
• 20:56
  And like, so it's a real thing. Community roundclubs has become the way to like go on
• 21:00
  meet people. No, but don't give me that creepy like mum face. I must have been out for
• 21:05
  walkie at the morning. And like this run cup came past and then just kept coming and coming.
• 21:08
  And I was like, jeez. And then I said, I'm just not fit enough to join the run club. I couldn't
• 21:13
  talk and run. Like I have to sort of like do half sentences. I did one with our friend in New Zealand.
• 21:19
  And I was like, I'm going to join this run club. They were like, come on. Come on. I came.
• 21:22
  I was literally at the back him having to run with me. And I was like, no, not like you go
• 21:27
  here. He's like, no, we all run together. Oh, yeah. Cause they're the cases. I was like, no, please.
• 21:33
  I want to walk. I really want to stop running. Please just run ahead. It's fine.
• 21:39
  I just got here. Just got here. Places up. I was reading, you know, that book lessons in
• 21:44
  chemistry, which has now been told to a TV series. In that case, spoiler spoiler. Anyone that
• 21:49
  hasn't read this, watch the TV show or like move forward by like 30 seconds. So there's a scene
• 21:55
  in that where the main character is running. So he's a researcher or something, you know,
• 22:00
  a super, super smart. He runs with his dog. It's actually the most traumatic thing. But it's
• 22:06
  he gets kind of bullied for running. And this was in the 50s or something. It wasn't that long ago
• 22:11
  that running was just like so not a thing. Yeah. And it has. It's really burned. It is quite
• 22:16
  weird for humans. Like if you think about back in the day, we ran from danger. Like that was why
• 22:20
  we ran. We ran to get away. I mean, you're trying to run from danger, having not practiced. I
• 22:25
  know. God, I wouldn't be getting very far. I wouldn't be surviving. Why? It's my face. Oh, it's
• 22:32
  upping me, bro. I can see where they were. Survival of the fittest. They would not be surviving. Oh my
• 22:36
  God. Yeah. Survival of the fittest. Yeah. Literally, who can run? That's like evolution. Oh my
• 22:42
  God. All the slow runners would get eaten. And the fast ones would procreate. And then you'd have,
• 22:48
  yeah, that's how I'd be dying. Oh my God. Okay. I need to get past my 12-minute run. But anyway,
• 22:53
  Strava, it has been doing fantastically. Well, it's estimated. So it was last valued at $2.2
• 22:59
  billion dollars every month. There is 50 million people that use the app. What is that compared to
• 23:04
  something like Spotify? 700 million. But so we're at 50 now. Yeah. And they're 700. Okay. But still
• 23:10
  like 50 million people using your app. Yeah. That's a lot. And even if the curve had that.
• 23:14
  God. I mean, we would have definitely retired by now. Surely. We'd be IPO-ing. But two
• 23:20
  boy, two million. Yeah. Billion. Billion. Billion. Yes. I'm out. Yeah. So sorry. So you'll let us know
• 23:25
  if we get the update on when this is happening. Yeah. You can tell the update you on when it's
• 23:30
  public as well. Yeah. Yeah. Okay. Cool. But they're raising money to make lots of acquisitions.
• 23:36
  Divide other companies. Divide the company. So they have acquired rumour? Oh, yeah. Oh, yeah,
• 23:40
  that's it. I could serve so many ads. Yeah. Interesting. They've bought it. Yeah. They've bought
• 23:44
  that. And they're going to make more acquisitions. This next story. Yes. I would like to give you
• 23:51
  a sort of a bow down moment of you have spoken about this for about a year when I have thought this
• 23:57
  is an absolute like we're vlogging the dead horse sort of five. Yeah. Just thinking on this not
• 24:03
  watching this podcast. She just shamed in her seat like a little genuinely shamed. I think that
• 24:08
  this is such a good example of yes, it's great to be seen. Yes, that I was honestly about to say
• 24:15
  that because I think it's so easy to follow the market to invest in ETFs. This is a really good
• 24:22
  example of why it's so great to have the knowledge that you do in terms of how you think about
• 24:28
  the market and also having worked in it for so long, you've seen things come and go. And when
• 24:33
  this particular entire industry was absolutely having a total mount down, which it has been,
• 24:39
  you will like I am holding my shares. I'm holding my shares. I think this is going to make
• 24:43
  a comeback. And I actually kind of didn't believe it. I was like, it's stupid. This isn't coming back.
• 24:48
  Don't believe it. And it is. It's quite impressive. And not even in that long. Yeah. I thought this
• 24:53
  is going to take so much longer to bounce back. Well, and it is very early days, but it's still
• 24:58
  coming up. Yeah. So what we're talking about is just luxury in general, right? The luxury
• 25:04
  industry. And in particular, LVMH, which is Louis Vuitton Moe, it's Hennessy. It's the world's
• 25:09
  biggest luxury group. Yeah, it's obviously got the brand. Louis Vuitton, Dior, Tiffany. And it
• 25:14
  has had a massive week. It's come out with a quarterly financial update to investors. And it was
• 25:21
  it showed, I guess, really positive signs of growth come back to the business. And it hasn't been
• 25:27
  there for a while. The share prices fall in well over 40% since February, which is massive for a
• 25:33
  company like this. Like it's got so many brands across champagne, jewellery, fashion, you know,
• 25:41
  like it's so diversified for it to fall 40% is quite quite massive. And it was a sign of the
• 25:46
  times in terms of every luxury brand. Well, not every, but a lot of them have been struggling
• 25:52
  lately. And I is interesting because with the champagne piece, I feel like not drinking is
• 26:00
  becoming a much bigger trend where people used to always think about celebrating and they
• 26:04
  would celebrate with a glass of champagne. It's had this quite like bougie elitist, expensive,
• 26:12
  exciting feel to it. You know, on Friday night, I went out for drinks and we got a bottle of
• 26:17
  champagne. And it was so fun and great. And holy shit, I felt awful the next day. But I feel like
• 26:23
  for a long time, this particular trend, I didn't think it was going to make a comeback. I sort of
• 26:28
  felt like maybe champagne, but people still drink it, but it's not going to become an
• 26:33
  investor asset because people are moving away from alcohol. And the same with things like
• 26:38
  expensive bags and expensive brands. I don't know. A lot of people are now renting clothes and
• 26:43
  wardrobes. People aren't investing in things like this, like massive, you know, but it seems
• 26:48
  to be. And I think you're right. There's so many newer structural changes that could impact
• 26:55
  these like champagne or luxury bags. But what I kept going back to is like these brands are decades,
• 27:04
  decades, decades old. And they've weathered like depressions, you know, like great depression.
• 27:09
  Was there Louis Vuitton bags in the depression? Yes, they've been going since like the 1800s.
• 27:14
  They've been mentioned so toned. Look at my Louis Vuitton. People can't even buy bread.
• 27:21
  And you're putting the bread on your Louis Vuitton. Yeah. Yeah, but it's I guess,
• 27:26
  yeah, this is why I love investing companies that have been around for a long time and been
• 27:30
  still the recent times. These changes not only market cycles and economic cycles, but like
• 27:35
  structural changes. And yes, you're right. Like there could be parts of their business that,
• 27:40
  you know, maybe the champagne part doesn't do as well because of that. But you've got like 50
• 27:45
  other brands. Yeah, you've got so many other brands. And so yeah. And I love that this is kind of a
• 27:50
  very family owned business. They're creating a legacy. Like they're investing for the long term.
• 27:54
  That's how we invests for the long term as well. There's just so many. Anyway, it did so well
• 28:00
  last week. It put on $39 billion in terms of its market cap in one day. Good,
• 28:06
  Lord. That's one day, one day move and it added 39 billion.
• 28:10
  Dude, it was really interesting. I sort of forget this when it comes to investing. And the
• 28:14
  I like especially because we've just talked about IPOs. When you're buying and selling shares,
• 28:19
  apart from an IPO, obviously, if you go and it's your initial public offering and you're taking
• 28:23
  money from investors to get capital into the business to grow, that's the whole point people go
• 28:27
  public. You just said that with Strava. They don't make all these acquisitions. They're buying
• 28:31
  these businesses, which is why they're going public because they want money to be able to make
• 28:34
  those purchases. But then you think about when you just said they've added 39, is it billion? Did
• 28:40
  you say to their market cap, which is the size of the business, that's all money being traded with
• 28:45
  in like investors, not the business. So although yes, when you say it's added that much to it,
• 28:53
  that money didn't go to the business. So how do you think about?
• 28:56
  No, but that means that the business is now more valuable. So therefore, if they needed to
• 29:03
  issue more shares and get more money in, they would be able to get more because their share prices
• 29:06
  worth more. And they can do like a smaller percentage. So say they could do, you know, they only
• 29:11
  needed to raise that 1%, rather than if you're a smaller company, you might have to do 10%.
• 29:16
  And also, it's a good, healthy indication, right? Because if LVMH was trying to raise money to
• 29:23
  make an acquisition, you know, even two weeks ago, people would be like, oh, do I really want to
• 29:29
  give you more money? Like I don't know because you haven't done very well. You know, some options,
• 29:35
  the growth and options to reinvest in different things. And options are talent, like hiring people
• 29:39
  as well. You know, like if you're like, look here, part of your package is, she has an LVMH
• 29:44
  down. So all of that really, really helps. It's also quite a status thing as well. This
• 29:50
  announcement from LVMH lifted the whole luxury sector. Everyone's like, woohoo, luxuries back.
• 29:55
  So Emmy is, I'm on clear. It's not clear even that exciting, like ski gear. Yeah, I just don't
• 30:02
  get that. It's got that hideous big red sign. It's like, it's like a status thing though,
• 30:07
  right? It's like the Canada Goose anyway. Anyway, yes. And it's, I guess the reason it's
• 30:12
  making come back is because of China. People are now spending, particularly in Asia,
• 30:16
  are now spending, again, on luxury. And they weren't. Why? Because people are feeling more confident,
• 30:21
  people are feeling, you know, more. Do you think it's because they're like, well, we know that
• 30:24
  our government is slapping a hundred percent. Yeah. So it's going to buy up. I kind of got it.
• 30:30
  They've also got new talent in there. They've got a new creative director for Deore. Like,
• 30:34
  there's a lot of things. Yeah. So yes. So I was actually, with this stock, I was actually buying
• 30:39
  all the way down. And I did. But I was like, when it was down, like 20% I was like,
• 30:45
  oh, yeah, I kept going to buy some more because this looks really good. And then I was like,
• 30:48
  I was getting to a point. I was like, oh, gosh, this, you know, you're never going to
• 30:52
  tie up. It's so interesting. It's psychology isn't it? When you're like, you're going down the
• 30:55
  elevator. It's cheaper. It's cheaper. It's cheaper. It's like, shit, like the psychology of
• 30:58
  continuing to buy when it's getting cheaper attacks so much confidence. So much confidence,
• 31:03
  the further down the elevator you get. Yeah. But also, this is kind of, you know, I need to practice
• 31:08
  what I preach is like dollar cost averaging, you know, you buy consistently and regularly, no
• 31:13
  matter what the price is so good. This is okay. Think of the elevator. Think at every step of
• 31:18
  the elevator, the share is, as you're going down, it's getting cheaper. And as you're going up,
• 31:22
  the elevator is getting more expensive. Point is, if you're buying all the way down the elevator
• 31:26
  and all the way back up, you're averaging, you're like dollar cost averaging what you purchase
• 31:30
  the share at, which is what she's talking about. Yeah. Because you don't know, right? When
• 31:34
  what is the bottom, or what is the top, or all of that. So it's the best way to sort of
• 31:38
  hedge your bets and make sure you're not just buying it when it's super expensive. And not get caught
• 31:42
  up in the psychology of, oh my gosh, is that going to turn around? Is it going to do better? Yeah,
• 31:46
  you just, you get advantage of the low prices, which is great. I must say, I would, we were speaking
• 31:51
  in an event last week. And for some reason, Labobus came up, I can't even remember why, and there
• 31:55
  was heaps of guys at the event. And I could just see all these blank faces of people being on
• 31:59
  a little booboo. I was like, it's a weird trend. People put one on my handbag. I was like,
• 32:03
  it's not Labobus. They run in the car. I was like, there's a few. Just got a few blank stairs.
• 32:09
  All these guys are looking at each other. I mean, I'm like, I haven't seen Labobus. But I did think,
• 32:12
  at that time, I was like, it's fluffy random toys that hang off nice handbags. But I would love
• 32:17
  to have a nice handbag. I think I've got to the point where I'm not losing my handbag, which is
• 32:21
  quite impressive for me. You know, like I've got the same handbag I've had for a year. It's fine.
• 32:26
  It's pretty. It's gone through the walls. It's gone in many line bikes. You know, it's
• 32:29
  looking pretty worse for me. You would not put a luxury handbag in a line bike. Absolutely not.
• 32:33
  Absolutely not. My point here is, I would love. I never up until recently thought that I would
• 32:39
  want a nice handbag. I don't know why it's just never been something I've really valued or been
• 32:42
  excited by. I think I would. What handbags do you have? I feel like you haven't invested in any
• 32:48
  have you. I haven't clutched. That was the worst investment. That was not good. And I should
• 32:54
  really sell it, but I just can't bring myself to sell it. It's all too expensive. Yeah. Why would
• 32:58
  you spend the much on a clutch, which you only wear like what? Like I would spend a lot on a
• 33:02
  handbag that I wear every single day. So you get good costs. Because I'm kind of impressed you
• 33:05
  haven't done that. Like you've got really nice handbags, but they're not they're not branded ones.
• 33:09
  Yeah. I know. Why not? I just changed my mind. Yeah. A lot. Yeah. I think it is hard when you're
• 33:16
  spending that much to have something that's timeless. Yeah. If you want to buy me one though,
• 33:19
  feel free. Your birthday's coming up. Yeah. Oh my God. Actually, do you know what? So I was waiting
• 33:24
  for a coffee at Ozom, which is this Australian coffee place here in the UK. New Zealand.
• 33:29
  Oh, it's a new problem. Oh, that's some embarrassing case. New Zealand company.
• 33:33
  I was standing, waiting in the queue to get in. And the school turns around and was like,
• 33:37
  oh, I listened to the curve. I love the curve. And I was like, oh, really? I got so excited. And
• 33:41
  anyway, she works at Louis Vuitton. Well, she used to work at Louis Vuitton at Tennessee. And I
• 33:46
  actually said to her, I was like, it's backspirits day coming up. Do you have any contacts internally?
• 33:49
  I know. I know. No, please don't because they know what I do now. I've really, I know. Now I've
• 33:53
  really raised the bar. She hasn't got back to me at so. No, I think that's yeah. But a mention.
• 33:58
  I was even thinking of being quite funny to get a video message from the Bernard, the main guy
• 34:03
  who answered or not or not. He's the owner of this company. It's just so funny that most people
• 34:08
  would get excited about like an actual celebrity. In fact, it's just like Bernard would have
• 34:12
  resigned. Yeah, like flag the handbag. I want a message from him just to photo.
• 34:17
  Also, coming up, not as exciting, but we have the budget coming up in the UK.
• 34:24
  What a segue. So excited. This is really exciting. Because this is right. It's kind of like your
• 34:31
  personal budget, but it's a budget for the country. So you get to see where is the government
• 34:35
  planning to send money? Where are they not planning to send money? Are they hopefully going to
• 34:38
  have some tax cuts, you know, all that fun stuff. But one of the key things on the agenda that
• 34:44
  has people talking already is a change in cash is so for anyone who's not in the UK, the UK has
• 34:53
  this really, really great. I like a scheme. Would we call it your scheme thing where it's like
• 34:57
  you get to invest up to 20,000 pounds a year. Every tax year, that is tax free. So then anything
• 35:06
  above that, you obviously have taxed on. But like, so if you invest 20,000 pounds and it grows
• 35:10
  to 30,000 pounds, you don't pay tax on it. You don't pay tax on the 10,000 pounds. Which is huge,
• 35:14
  because I think that the ages when I remember when we first learned about cash
• 35:19
  prices and stocks and shares and blah, blah, blah. I was always at tax free. Why is that a big deal?
• 35:24
  But you kind of do forget that you pay tax. So anywhere at most other places that you invest in
• 35:29
  stocks or in the stock market, you do. You pay. It's almost like not capital gains tax, but kind of.
• 35:35
  You get a return and then part of that goes to the government. Whereas this particular way of
• 35:40
  investing or putting money aside means that you're not doing that. I was sending my money back to
• 35:45
  New Zealand and just getting tax on it there. And I was like, what are you doing? I had this kind
• 35:50
  of moment of like, come on back here. I was like, you know better. You know better. And then now,
• 35:56
  yeah, fill up my, fill up my eyes, sir. And then send money back. Oh, fill it up your eyes,
• 36:00
  right? No, there's no way you're filling up your eyes. I know that's fine. I haven't seen
• 36:04
  anyone there, too. But yeah, so the rationale is that they want to reduce the threshold from
• 36:11
  20,000 to 10,000. No, annoying. Just from cash prices. So annoying. Because they want to encourage
• 36:16
  people to invest the money. Oh, right. So it's like, don't put it in the cash, go strike some
• 36:20
  shares. Okay. Hear me out. I am, I'm here for. I'm here. That sets bad idea, aren't you?
• 36:27
  Nope. I'm half here. I'm half here for it. Okay. So one foot and one foot out. Well, I
• 36:33
  am all for people investing more because I think there is too much money. A particularly woman
• 36:39
  have way too much money not invested in the stock market. So in the bank and like in really
• 36:44
  low returning things. If you're listening to this quickly, without your phone and see what's
• 36:48
  your transaction account, what you want is to look at your accounts every month and be spending
• 36:52
  what's in there, rather than you automate all of your money out in terms of what you're investing,
• 36:57
  what you're putting aside into different, you know, like short and long term,
• 37:00
  I'm goals. You don't want to have a big amount of money sitting in the bank. It's really
• 37:05
  literally the worst place for your money to be. Anyway, you're right. They're trying to encourage
• 37:10
  people to invest, get higher returns on their money, but they want them to put it into UK stocks.
• 37:16
  Oh, shit. I know. So I kind of get it. Like they're trying to encourage investment into the
• 37:22
  economy and all of that and into UK companies. And I get it, but I'm also like, if your
• 37:28
  mission is to help people grow their money, they should be putting it into the US stock market,
• 37:33
  you know, because the US stock market's done 11% return per year on average over the last 20 years.
• 37:40
  This to be 10, is it one of 12? Wow. The FTSE has done six percent.
• 37:45
  Which over 20 years, that 5% difference is a lot. Yeah.
• 37:49
  Over 20 years. So, but I also think you can make the UK stock market do better. I am not putting
• 37:53
  them in my money. But maybe that is the way to make it do better, as you have to encourage people
• 37:56
  to do it. So perhaps it could work. But I think forcing people to invest in something is not,
• 38:00
  it's not conducive for a good financial system. If you're forcing people to do something,
• 38:05
  we've seen it happen in Asian stock markets. They like close the stock exchange because I don't
• 38:08
  want people to sell. You know, like, so that sounds illegal. Yeah. So it's like, if you can't,
• 38:13
  you can't force people to act in a certain way. You know, like, it's an ecosystem. It's,
• 38:19
  it's meant to be fluid and people in supply and demand and as soon as you start like
• 38:24
  everything with it a little bit, it's like, it just throws it off cold anyway.
• 38:26
  Wait, so I'm a bit confused. So cash isis, you used to be able to put 20,000 in. Now they're saying
• 38:32
  you only put 10,000 in. Yeah. And the point is because they're trying to encourage that extra 10,000
• 38:37
  to go into a stocks and shares isis. Into the UK stock market. But the point being is it's not
• 38:42
  invest in whatever you want. It's invest in the UK stock market. Well, they are trying to
• 38:46
  encourage you to invest in your stock market. But how is it by, is it through stocks and shares
• 38:51
  that are only allowing you to, there's a natural attraction to invest in your local stock market
• 38:55
  because pounds into pounds, you know, yeah, I say. So there'll be, there'll be leakage, I guess,
• 39:00
  to other stock markets around the world. Most commonly, probably the US stock market. But there will
• 39:07
  be, like we're talking, it's about 300 billion dollars is what they're talking about in terms
• 39:11
  of the size of money instead of it going into a cash iser. And if you could get 100 billion of
• 39:16
  that going to the stock market, that's massive. Do you know what I mean? So it's kind of, yeah.
• 39:20
  And when you say they're forcing them, it's not as though all of a sudden if you go into your cash,
• 39:24
  I'm sorry, your stocks and shares iser that it's saying, if you want to invest, you have to invest
• 39:28
  your 20,000, it's more just that it makes more financial sense from it. And there'll be a
• 39:33
  generation around it and stuff. And also, so say from one eight per on next year, they're like,
• 39:39
  you know, what we're juicing the threshold, people with this extra 10,000 will be like, okay,
• 39:44
  what do I do with it? I'll just put in the UK stock market or actually, I'll transfer it into US
• 39:50
  dollars and put it into the US stock market. So it's just easier for people to go straight through
• 39:54
  their stocks and shares iser into the UK stock market. But what you're saying is it's great that
• 39:59
  they're encouraging people to invest more. But in terms of long term success or wealth growing,
• 40:05
  it's probably best to be not necessarily 100% in the UK stock market is sort of what you're saying.
• 40:11
  Yeah. And people might sort of just because they don't know enough, follow the system and it
• 40:16
  goes straight into the UK stock market when really they could be getting probably double the return
• 40:20
  if they were investing in the US. Yeah. Okay. I mean, I will say I think the fact that, you know,
• 40:26
  if I think of myself five years ago before I knew anything about investing, if there was a way
• 40:30
  where I was encouraged through the system to not put my money into the, you know, my transaction
• 40:36
  account and it somehow ended up in an investment account, even though it's already say a six percent
• 40:41
  return that's too way better than what I was getting. So I totally, I think for those people who
• 40:46
  are so unaware, getting a six percent return is amazing compared to what they would have
• 40:51
  if it got. And then hopefully by starting to invest in the UK stock market, they become more
• 40:56
  interested in investing and then they start realizing there's other options and then they can
• 40:59
  diversify into different countries, you know. And hopefully it means that the UK stock market does
• 41:04
  better, right? And then everyone wins. I just feel like we're like talking about six percent,
• 41:08
  which are very similar. The UK used to be this really sort of not wealthy, but when I used to
• 41:13
  think of the UK in pounds, there was so much value here and there was so much economic promise.
• 41:19
  Good job. Yeah, people would seem like, so that's why so many New Zealanders moved
• 41:24
  out to the UK was because you could get three, like what you could earn in a pound would turn
• 41:29
  into three New Zealand dollars. It was three times, you know, the amount. Now it's really not that
• 41:34
  exciting. I would love to see a world where the UK is starting to be more exciting. Yeah, well,
• 41:41
  I don't know. I just feel like breaks it, right? Yeah. Yes, it's ever since breaks it.
• 41:46
  Just a hole in the mechanical worms. And lastly, I saw this headline and I thought,
• 41:51
  this sounds like a sort of story, but I'll do this one. Was it from the Daily Mail? No,
• 41:56
  perhaps close. Yeah, yeah. So this has been is that your newspaper of choice? Yeah, yeah.
• 42:01
  I would say it's the only newspaper that I said, oh no, there's a few that I get served on
• 42:05
  Instagram and it's generally pop culture type stuff. And I'll click through and have a quick
• 42:11
  read. But I definitely am not looking at finance and news stories. Obviously, that's the whole
• 42:16
  reason this podcast existed so that you can filter the more interesting shit through all of us.
• 42:20
  But we were talking behind the scenes about how fun it would be if I got to bring my own
• 42:26
  story every week. So I think you shouldn't. I know. I think maybe next week we'll start this.
• 42:30
  I don't know this story. So you can bring it. But this would be hypothetically a Sophie story.
• 42:34
  Yes. Okay. So Taylor Swift. Have you listened to a new album? Yeah, I love it.
• 42:40
  What's your favourite? Wood. Really? Do you know what's about having sex? I know.
• 42:45
  Oh, yeah. I feel sorry. Sorry. I sound like the most prudipous on the whole.
• 42:51
  Do you know what did that penis? No, but that's why I love it because I'm actually so
• 42:56
  like good girl. Just a bit of the line about spreading the thighs. I was like, yeah, it's just a
• 43:00
  you know, I just think it's like real. I don't know. It's got really an old school jingle to it.
• 43:06
  I like that feel your one. Yeah. There's quite a few I like. I must say when I listen to the one
• 43:11
  that's about Charlie Xiex, the romantic, I'm like, God, it's good. Yeah. And also how weird would it
• 43:17
  be if you had this public feud with someone everyone knew this? I didn't even know Sympathy is a
• 43:22
  knife the Charlie Xiex song was about Taylor and now I've listened to the lyrics and I thought, oh my
• 43:27
  it's brutal. Someone must really cut you up to you to write a disc track about them. You know,
• 43:32
  like yeah, or it's just great. So I watched it interview with Taylor Swift and she was like,
• 43:37
  people come at me all the time because they want disc tracks written about them because it like
• 43:42
  boosts their career. Of course. I was like, oh my god. So it's almost like doing it about Charlie's
• 43:48
  probably doing wonders for yeah, but I was like, oh my god, people work. They would start
• 43:52
  with her. And she's like, guys, come on. Anyway, her debut week, sort of her new album,
• 44:00
  Life of a Showgirl, sold four million copies in one week. Now buying albums these days.
• 44:07
  Well, this is the thing that we're in like an era of streaming, right? Even if it's online,
• 44:11
  why don't you go buy a record or vinyl or like anything like that or a CD and to put this
• 44:16
  in perspective, then this is this is broken records for as long as records go back like this is
• 44:21
  in the amount she sold, which is so weird considering you don't need to buy them anymore. Yeah.
• 44:25
  So it's kind of bucking the trend, but also she's how did she sell it? Was it in vinyl or
• 44:31
  CD? vinyl and CD. So like any hard, any hard record.
• 44:34
  Okay, four million CDs were sold and to put this in perspective, playing that. I mean,
• 44:39
  I got some high CDs from this listening party I went to and last night my housemate was like,
• 44:45
  do you want these CDs? You know, it was from that thing. And I kind of do, but I'm like, where the
• 44:49
  how would I play it? Yeah. Anyway, to put some perspective beyond saying, like Kendrick Ma sell
• 44:54
  like 200,000 to 400,000. So like she's on 10 time that amount. She is iconic. She's like Michael
• 45:01
  Jackson. She is like Beatles, Rolling Stones. She is she is going to stand the test. My six-year-old
• 45:07
  niece is like, I want Taylor Swift to anything Taylor Swift for Christmas. I'm like, you're six.
• 45:11
  I'm 36 and we have that in common. You're not. I'm like Nito. I need to grow up or you need to
• 45:17
  I don't know. But I think she I was thinking about this. I wonder what she would be like because
• 45:23
  if you are that successful in making that much money and making that good music,
• 45:27
  do you think you would have to get to a point where you just think you're awesome?
• 45:31
  Like how would you not have a giant head? I thought about this. I was like, I wonder what would
• 45:34
  be like to meet her if she would actually be? And I didn't mean this in a fan way. I mean, just
• 45:39
  what would her aura be? Because you would just have the what's the equivalent of big dick energy.
• 45:45
  You know, she she is absolutely killing it. I always think about appearance and I'm like,
• 45:49
  you know, my parents always think about Taylor Swift's parents. Like my parents are proud of me,
• 45:53
  but like imagine if I was a global superstar that is going to be recognized for generations to
• 46:00
  come. I was just so awkward for the rest of the siblings. Like when they gave birth to her,
• 46:03
  they were like, you're special. No, but like, think of do-a-lay, but and then you see all the siblings
• 46:07
  and you're just like, sure, I mean, don't tell me parents don't have favorites. I see do-a-lay for
• 46:12
  this. So there isn't a little bit of jealousy from your sibling. I get jealous my sister if she
• 46:15
  like looks slightly better than me in an outfit. Yeah, totally. She was a global superstar. Yeah,
• 46:19
  absolute billionaire. Anyway, Taylor Swift is killing it again. Before we wrap up this episode,
• 46:23
  that's a last week, which by the way, I actually, in Lunei, we're having a production meeting on
• 46:28
  Friday. And I was like, oh my god, what was voted? Like what has been voted for her Halloween outfit?
• 46:33
  No, I don't. And she was like, I'm not telling you. Do you know? You haven't been told, have you?
• 46:38
  Okay, yeah. So basically, we last week, we put out a vote for what do we have to dress our pairs.
• 46:43
  We had the first initial idea was Trump and Melania. The second one was a bull and bear market,
• 46:49
  which I must say, think is funny. It's funny. Yeah, it's funny. Like, if we got prosthetics on
• 46:53
  our face or something, quite good. Then what were the other ones? Binance bros. That's classic.
• 46:58
  It's a little bit easy. We'll probably put some, you know, moustaches on. I'll bet men and fans off
• 47:03
  because those are like the collection of shoppers. Yeah, quite good. Yeah. That was it. Anyway,
• 47:09
  point is, we're not going to find out what we're dressing up as until the episode and neither of you,
• 47:13
  sorry. So our Halloween, it was Taylor Swift. Yeah, true. She had such a big impact on the economy.
• 47:18
  And inflation. And inflation. I must say, I think, I think that was maybe one of my favorite things
• 47:23
  we've ever done. Just dressing up for Halloween. For some reason, it's become a thing anyway. So
• 47:28
  is it next week or the one after we'll be dressing after the one after? Okay. So watch this space.
• 47:32
  Thank you, everyone so much who voted. Also, we are doing a themed episode that day. We're going
• 47:38
  to take some investing horror stories or money horror stories. We've got a curve hotline,
• 47:42
  which is in our podcast show notes. If you want to leave a voice note or for like us,
• 47:47
  write a comment or like us, DM what it works for you. We're trying to collate as many horror stories
• 47:51
  as we can, not to put you off investing, but just because it's fun to talk about.
• 47:55
  So scene does your investing horror stories. And we will read them out. Don't forget to vote
• 48:03
  on the day that this is released. I would like to know if we can, if we're moving the curve
• 48:08
  weekly to a Tuesday or leaving it on a Monday, because it would be quite good to say,
• 48:11
  see you next Tuesday at the end of every episode. Not really. No, no. In appropriate.
• 48:15
  In appropriate. Yeah. Okay. We'll see you next Monday. Bye. Okay. Can you have a bit more
• 48:19
  of a different way to say it? See you next Monday. Just see you on Tuesday. See you
• 48:26
  in the all Monday. Well, this is so awkward. Okay. Bye.
• 48:49
  Helps other people find our cute little podcast. And we hope you have a good week and see you next
• 48:54
  Monday. Bye. Bye. See you next Tuesday. Well, see you next Tuesday. I mean Monday.
• 49:04
  No, actually though, new episodes out every Tuesday.
• 49:10
  Okay, quickly, the curve was created to empower and educate you about investing, but we are not
• 49:14
  financial advisors. Our platform exists for educational purposes only and it doesn't provide
• 49:19
  personalized investing advice for your individual needs and should not be relied upon to make
• 49:23
  an investment or financial decision. And always remember to do your own research before
• 49:27
  making any investment or financial decision. We're here for any knowledge and support you need,
• 49:32
  but the final call is always yours. And thanks for being here. You got this. Yeah, we know you got
• 49:37
  this. Welcome to. Okay. Okay. Okay. Okay. Okay. Okay. We're the
• 49:44
  finance you so you don't have to. Okay.
• 49:47
  Oh, I can't. Okay. Welcome to the curve weekly where we read the finance news so you don't have to.
• 49:52
  I'm Sophie Hall, right? And I'm. Oh, far. Sorry. Sorry.