This morning Alan starts by looking at the formidable US GDP figure that came out: 4.1%! What a result! But while Trump called the pace “very sustainable,” Wall Street fell. Just where is the US economy headed?
Back on the home front and the Nine-Fairfax deal starts us off. Alan has spent 26 years working for Fairfax, including six as editor of two newspapers, and has a few thoughts on what happens now after Nine’s acquisition, but a spoiler: Alan doesn’t think Nine is worth owning.
Alan has followed up Darren McShane’s ASIC report on financial advisor fees, starting by wondering how he didn’t interview a single participant who is a consumer. More on that inside.
Alan also have some thoughts on Macquarie’s new CEO, the continuing mire that AMP finds it in, and is the Trump-Juncker trade truce really a sign of things to come for the US and Europe, and a zero-tariff existence together. Can peace break out?