Anthony Macdonald

It's

really bankroll chemist warehouses rise.

It's changing JB Hi-Fi's product set.

There you go.

The third one, James, and then this comes back to what we were just talking about in the interest rate sections, is travel.

Listening to Qantas' Vanessa Hudson, what economic slowdown?

When they announced they were cutting capacity a few weeks ago, I wrote, surely that's a sign that they think the economy is softening.

but she says no it's just a price thing and it's just about managing price and trying to protect profits demand is no problem which sort of makes me wonder why they don't just increase prices without cutting capacity i mean that to me that sounds the more rational thing but i mean she says it's all part of the aviation sector's secret source that managing volume and price to get the best margin she said capacity is down 20 globally james in the aviation sector um because of the the oil price what's going on in the middle east with some of the middle east carriers

That's why prices are so high.

But it's funny.

I think we've been hearing, haven't we, ever since the pandemic, that Australians' propensity to travel is just going up and up and up.

The big caps, James, I'd say.

Often it's the small caps that have people spilling out of the rooms.

I reckon this year there was much more interest in the big caps.

And I don't know if that's because some of them have been running hard or what.

So Qantas, like I said, obviously very topical because of the oil price.

BHP, CFO Vendita Pant, I mean, she started by explaining why the company's share price had gone to $55,000.

where it's never been before recently.

And she says it's all new investors who are bidding up the stock.

Offshore fund managers in particular that are buying it for the copper exposure to the AI story.