Episode 8 of The Investor Exchange
Australia’s population reached 25 million this week, the team discuss the impact of this and the infrastructure required for population growth, Plus major banks caught up in the Royal Commission, Cryptocurrencies and working out in the nude. Listen and enjoy.
The Royal Commission is having an impact
Commonwealth Bank’s profit falls after spending $1.1 billion on penalties and costs that included a $700m civil penalty from AUSTRAC. AMP’s first half net profit plunged 74% with its Wealth Management division losing $873 Million. NAB have been caught charging fees for no service and has paid out $87 million in compensation to 305,000 super fund members and “have no idea how many super fund members were wrongly charged”.
Further changes are coming with these major banks divesting of non-banking business units including advice, insurance and mortgage broking.
Our Investor Exchange Round Table Discussion Covered:
- What do you do with a pay rise?
Louis discusses the typical decisions we make when we receive a pay rise and puts forward some strategies for managing a pay rise for the best financial outcome. (14:20)
- How Big is Australia in World Terms?
Brett discusses the rate of Australia’s population growth, what is contributing to that growth and how we compare to other countries. (29:00)
- When is the next Real Estate Crash?
Joel discusses the status of mortgage delinquencies which are a key indicator of a potential crash.(40:00)
- What’s happening with Bitcoin and other Cryptocurrencies?
It took us 8 episodes to get there and we finally have some discussion about cryptocurrencies and their recent performance.(42:25)
You Cannot Be Serious this week:
- Naked Workouts – Thankfully not a new trend, Brett tells the tale of an An American man stripping off in a public gym and doing Yoga. (49:20)
- Louis puts the boot into our politicians for bumbling around for10 years on the National Energy Guarantee. (50:20)
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