This week, Joel, Brett, Louis and returning special guest Huw Davies (Episode 67) engages in a roundtable discussion about insurances policy changes, major political updates as well as home ownership in Australia. The episode kicks off with Louis leading the discussion on regulatory changes to your insurance policies and provides advice on what to do before the deadline to best prepare yourself. Joel then gives us a rundown on Trump and tariff talks, Brexit and the UK election as well as the update on the recent Westpac controversies. Brett breaks down some findings on how Australia compares to the rest of the world in terms of cost of housing as well as property ownership.
This Week’s Investor Exchange Round Table Covered:
- Insurance Regulatory Changes: APRA, an insurance industry regulator has come under fire under the new regulations set by the royal commission. In disability insurance alone, there has been $3b worth of losses largely attributed to insurance claims posing growing concerns over the long term sustainability of these financial institutions. Therefore in March 2020, APRA has given insurance provider an ultimatum to get rid of agreed value income protection which will drastically affect consumers in their future insurance claims.
- Political Update: The Westpac Annual General Meeting occurred following the 23 million alleged breaches to the anti-money laundering laws. Ironically, it also revealed that all board members involved were found to be part of the bank’s risk committee. This week is a major week for both Trump and China’s trade talk as well as the Brexit UK election. The results of these major events will cause a major movement within the stock market as it will mark the end of a stalemate.
- Australia vs Others: A report done by Swinton, a UK research company revealed home ownership statistics. It has shown that over the past 10 years, home ownership have declined by 11% in the UK vs an increase in Australia by 86%. What does this mean in terms of dwelling sizes and costs? Brett provides comprehensive explanation of Swinton’s findings and metrics that will give you understanding of where Australia sits in terms of affordability, dwelling sizes and home ownership compared to the rest of the world.
- Behavioural Finance: Is Santa Claus a wealthy man? In the spirit of Christmas, Louis brings with him learnings from renown finance guides and explains what Santa Claus can teach us about adopting a growth mindset.
You Cannot Be Serious
- Would you do a job that pays you $50k a year to smoke dope? A US medicinal marijuana company is offering a professional reviewer a $36k USD ($50k AUD) salary to review their products.
- A subway employee told police that she conducted a robbery in her own subway shop to teach her employees a lesson on how dangerous where they are working could be.
- A man went viral on the internet by protesting a vegan protest by streaming himself eating a big bucket of KFC.
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