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Hello and welcome to the Friday edition of the Chezify Podcast.
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The team's all here.
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How are you guys?
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Not much to say in terms of markets, sort of flip-flopping around.
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You know, one day oil's up, bond yields are up, next day they're both down.
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But um we've been keeping busy, haven't we?
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James, you and I, after our chat with Richard Penny in midweek, we did a podcast last night with uh Grace Osborne.
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We did indeed, very interesting.
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She talked us through why Europe is the fastest warming continent rather than Asia and Africa.
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Uh and you know, some of the industry sectors that are going to be affected.
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It was really interesting, wasn't it, Ian?
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It it was fascinating.
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I mean, there's so much we got so much in in such a short space of time.
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So Grace is a sustainable finance analyst at Bloomberg Intelligence, and she dialed in from New York, where it's climate week this week.
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And so talking a lot about AI, data centers, the need for um more energy sources, but also water resources, this type of thing.
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And who the likely winners and losers could be, which was really good stuff, actually.
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So that's on the website.
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Check it out.
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Again, we're spoiling you guys, two podcasts in one day.
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Um, Steve, you've been uh busy though, looking at companies.
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Yeah, I mean that's a really interesting point you just made there about the sustainability, and data centers is a really interesting place because of all those multiple resources, and so it's not just energy, as you rightly point out, it's things like water as well, and space and etc.
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etc.
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So there has been some pushback recently in in data centers.
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Local residents are starting to say, hang on a second, do we want that massive data center in our backyard?
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A bit of the NIMBY thing maybe going on.
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I don't know, discuss amongst yourselves.
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This week, though, I've I've definitely been um my attention been drawn to a Apple dabbling with the 5 trillion market cap valuation up until this point.
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Nvidia was the only company that's broken that um benchmark.
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Uh Apple, I think it's just crept over it, but I'm not sure it's it's been sailing along the lines of 5 trillion to all intents and purposes.
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It's worth 5 trillion.
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The question I asked is where does the valuation go from here?
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What's the upside for investors?
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So have a read at that.
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I've also been looking at the um AI stock space, a wider AI stock space.
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And I think because people like the three of us have been in the game a long, long time, sometimes it's easy to forget um just how much accumulated knowledge you have.
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And I think to go back to basics and go, look, how do I invest in AI?
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How do I approach this vast topic?
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And so I've gone through that with with a kind of a beginner's mindset, really, to kind of answer some really fairly straightforward questions about what you should be thinking about, what kind of metrics, what kind of ecosystem do we talk about when we're talking about AI.
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So I've put quite an extensive piece on our website.
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Um, really interesting.
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And then this side of the Atlantic as well, we've had some interesting results on particularly Raspberry Pi knockout results again.
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Shares we had about 20%.
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Absolutely outstanding.
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The key thing there was about it's it's really getting some traction with OEMs.
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This is no longer just a hobbyist kind of uh business, this is very much about going into the automation in industry.
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So really promising science for for them.
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Yeah, as as you say, I mean, when it came to market, it was just known as a hobbyist thing and an educational thing, and yet again, I think the market's underestimated, you know, just how much potential is there with that IP they got.
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Um, yeah, James, you looked at a few things this week too.
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Yeah, a couple of unexpected upgrades actually.
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So we had on the beach actually nudged up their four-year profit guidance.
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It's like a flurry of late bookings for them that's that's sort of done the trick.
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Uh also ASOS, I don't know if you've seen the share price there.
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It's had a really good rally over the last six months to a year.
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Uh return to growth in the fourth quarter, and they nudged up the rehabilitative guidance as well.
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Uh one that let the side down a little bit was AO World, where the sort of the absence of an upgrade hit the share price.
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But I don't know if you spotted, they've uh they've snapped up Jessups from Peter Jones, the old Dragon's Den uh guru.
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That was interesting to you.
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Yeah, it gives more reasons to shop with AO, I guess, and probably a bit of synergy with the Music Magpie business that they bought a few years back.
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Uh lots going on in trust as well.
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Yeah, go on in.
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I was gonna say, yeah, no, that makes complete sense.
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I get you with the Music Magpie link.
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Yeah, yeah, I mean, trust base's been really busy as well, has it, James?
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Yeah, yeah, it has.
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So we had some some really strong numbers this morning from JP Morgan, emerging markets, growth and income.
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I think that's one that Emily Whiting talked about uh on the pod uh fairly recently.
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Uh on the website, I've been quite busy.
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I've done a piece on Asia Pacific funds, different ways to gain exposure, a few managers' thoughts on China and India, which of course are the two big beasts there.
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And I've also done a piece this morning on the uh showdown between uh Bailey Gifford Grove US Growth and Sabah.
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So they've got the AGM coming up on the 23rd of October.
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Um, and there's a note out from InvestEt where they talk about why shareholders should really support the board, performance is recovered, and it's quite a unique strategy.
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So you know that they're very supportive of the board and the existing mandate at the moment.
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It's quite interesting, James.
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Uh I mean I I I'm uh investing personally in Scottish mortgage, and I think people um Lady Gifford, they they have a very similar ethos across their trust base, especially across their main growth stuff.
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So the US stuff does seem to have lagged the Scottish mortgage um performance, and you know, I just I just ask myself why that is, and I suppose it's just comes down to differences and opinions between different fund management teams, I guess.
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Yeah, I I guess so, and and um I think InvestTech make the point that it offers unique exposure to some of those private companies that are hard to access otherwise, yeah.
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Like some Stripe, um Anthropic, OpenAI, one or two others I'm sure you'll know about, Steve.
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Yeah, yeah, interesting stuff.
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Well, I I've been uh obviously have my own helmer for a long, long time.
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Um, came out yesterday, raised guidance for the full year, that's the year to next March.
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Um, not a huge raise, in fairness, but it's thanks to the uh photonics business, which uh we've talked about before, Steve.
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Yeah, Optics, Optics, Optics.
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Absolutely.
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Then this business called AVO and it's based in Horsham, but it's not Horsham, Surrey, it's Horsham, Pennsylvania, and it's a contract manufacturer of photonics, so it doesn't make any products of its own, it just makes stuff for customers.
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Uh sales are growing at like 30%.
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So what Helmer has said is of our 12% organic growth, five of that 12 is coming from it's premium growth, it's coming from the photonics business.
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So they basically they haven't raised a sales forecast, but it's a better product mix.
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So the thing is with Helmer at 30 times, I mean, it actually got up to 40 times forward earnings in the middle of this year, and then it kind of drifted back again.
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It's not a giveaway at 30 times, it's quality business, but it I think it's slightly still for me a little bit richer 30 times.
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Don't know what you think.
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Just I mean, just a bit of colour, I think, for our listeners is I mean, when we talk about photonics, we're really talking about fibre optics and using laser, so using light as well, transmitting data as opposed to using copper cabling.
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Now, there are benefits uh and pros and cons of using both those techniques, but Kate uh copper has been very, very high demand, copper price at sky high.
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We discussed this in previous content that we've we have on our site.
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You can come and search that, it's easy to find just putting copper into our search bar, but also the opto-electronic side of things.
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So, how a lot of businesses are transitioning from copper uh networks into fiber optics, and and no, it's just simply I I've recently got a um I'm a subscriber to Sky TV and Sky's broadband, and they've just been advertising me saying for free we're gonna upgrade our network from copper to fibre because it just seems to be that bit more efficient.
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So interesting debate going forward.
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Uh so this business is I mean it's growing sales at 30%, which is pretty impressive.
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Um, the other thing that uh called called me out actually was uh Wednesday just before the close, and I'm surprised they didn't wait until after the close because it kind of sent sent the shares flying.
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Was Ashd Technology announced uh that they'd received a bid uh from a private equity business called Ember Infrastructure at£6.15.
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Well, this is like 10 minutes before the close, and the shares were trading at£3.40.
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So obviously they absolutely roofed.
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Um they went to about what£5.40,£5.50.
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But the odd thing is yesterday, when the news is in the market, they drifted back again, and even today they're only trading around the£5.20 level, and the bids at£6.15.
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And normally you get the merger arb guys coming in and closing that gap.
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There isn't you know that that gap hasn't closed, and I find that odd.
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I mean, I don't know whether people think Ember's going to come back with another bid because this is their fourth go at taking it over.
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Uh, the first two, the Board of Astrotechnology just rejected out of hand, but they obviously sat down, thought about the third one, and said, up it, up it some more.
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Um, so you've got four£6.15 on the table, shares are trading at£5.20.
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This is the thing, Ian is it's we've seen this so many times, it's it's it's a big premium to the current share price, but go back 18 months and the shares were way higher than even the bid at the moment.
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So you might have long-term investors are really going, actually, how generous really is this?
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Um, all they're really doing is shine a light on the intrinsic value inside the business that's not yet been recognised by the wider market.
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So, really difficult stuff for the um for the ball to to balance.
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Long-term objectives worth taking money up front here and now.
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So, tough ones for well, I mean, three£3.40 clearly wasn't the right price for the shares.
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You know, they did get smashed down after they talked about a couple of contracts that have been uh cancelled.
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But um, what have we got then next week, Steve?
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You got more tech?
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Yeah, I mean it's the the the big story realistically is going to be about micron technology, so big memory uh chipmaker.
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Um, it's uh it's had an stormy run, it's up uh it's up over 300% this year, um, years to date.
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Um, some questions have been asked more recently about again how long can this run keep going, etc.
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etc.
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And just to give you a sense, uh, expectations for earnings are going to be something like a thousand percent higher than they were um um uh before last year.
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So uh I mean massive step forward.
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Is that sustainable?
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That's the big question.
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And if it is sustainable, for how long is it sustainable?
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So um big issues around that.
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Uh ultimately it won't be about just hitting your numbers, it's hit and beat your numbers.
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That's really realistically going to be the tide.
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The other interesting company it's worth uh watching is Jabil.
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Now, Jabbil, probably not that well known this side of the Atlantic, but it's got fingers in so many electronics pies and massive AI um exposure as well.
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So, again, not a cheap company, a bit like Halmer, um, but a very, very strong, you know, consistent compound of value.
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Yeah.
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And James, what are you getting your teeth into next week?
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Yeah, lots going on in the consumer sector.
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So we've got card factory and AG Bar on Tuesday, I think.
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So Iron Brew Maker and the sort of budget freakings cars businesses.
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Greg's third quarter on Wednesday.
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That'll be very interesting, given the kind of heat waves over July and August, how that's what that's done for Light for Light sales.
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I've done my bit, I've eaten enough sausage rolls, so hopefully the smunt is in there.
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And then across the pond, it's um it's a big one.
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It's a Q1 from Nike uh on the 1st of October.
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Now they've really the turnaround there's been real sort of struggle.
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Um and Killian Mbappe, by the way, just put the boot into Nike.
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He's just left after 20 years to become an ambassador and a shareholder in on holding, which is the kind of upstart rival.
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So that'll be very interesting to watch.
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Yeah.
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Wow, that will be interesting.
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Well, I've got I've got saga and weather spoons to look forward to.
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So I'm just wondering what a Venn diagram would look like, how much of an overlap there might be between the two.
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So I'll leave you with that thought.
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Uh have a good weekend, everyone.
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Uh, before we go in, uh let's just remind uh listeners that we've got an upcoming webinar.
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Uh these these are free to to attend, um, it's all online.
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We've got a couple of very, very different investment trusts presenting.
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Um, they're lesser known trusts, I'd I would suggest.
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Um, so really give you uh an insight into growth on the one hand um and income on the other, but they have their own very unique ways of doing it.
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So this is on the 7th of October, um, between six and seven-ish, uh, is it's our go onto our website, go to our uh upcoming events page, register and say it's all for free, and we'll keep you in the loop up until then via email.
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Yep.
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And uh until then, have a good weekend.
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Um, we'll catch you next week.
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Bye for now.
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See you next week.
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Yep.
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Hello and welcome to the Friday edition of the Chezify Podcast.
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The team's all here.
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How are you guys?
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Not much to say in terms of markets, sort of flip-flopping around.
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You know, one day oil's up, bond yields are up, next day they're both down.
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But um we've been keeping busy, haven't we?
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James, you and I, after our chat with Richard Penny in midweek, we did a podcast last night with uh Grace Osborne.
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We did indeed, very interesting.
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She talked us through why Europe is the fastest warming continent rather than Asia and Africa.
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Uh and you know, some of the industry sectors that are going to be affected.
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It was really interesting, wasn't it, Ian?
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It it was fascinating.
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I mean, there's so much we got so much in in such a short space of time.
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So Grace is a sustainable finance analyst at Bloomberg Intelligence, and she dialed in from New York, where it's climate week this week.
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And so talking a lot about AI, data centers, the need for um more energy sources, but also water resources, this type of thing.
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And who the likely winners and losers could be, which was really good stuff, actually.
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So that's on the website.
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Check it out.
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Again, we're spoiling you guys, two podcasts in one day.
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Um, Steve, you've been uh busy though, looking at companies.
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Yeah, I mean that's a really interesting point you just made there about the sustainability, and data centers is a really interesting place because of all those multiple resources, and so it's not just energy, as you rightly point out, it's things like water as well, and space and etc.
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etc.
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So there has been some pushback recently in in data centers.
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Local residents are starting to say, hang on a second, do we want that massive data center in our backyard?
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A bit of the NIMBY thing maybe going on.
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I don't know, discuss amongst yourselves.
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This week, though, I've I've definitely been um my attention been drawn to a Apple dabbling with the 5 trillion market cap valuation up until this point.
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Nvidia was the only company that's broken that um benchmark.
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Uh Apple, I think it's just crept over it, but I'm not sure it's it's been sailing along the lines of 5 trillion to all intents and purposes.
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It's worth 5 trillion.
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The question I asked is where does the valuation go from here?
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What's the upside for investors?
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So have a read at that.
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I've also been looking at the um AI stock space, a wider AI stock space.
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And I think because people like the three of us have been in the game a long, long time, sometimes it's easy to forget um just how much accumulated knowledge you have.
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And I think to go back to basics and go, look, how do I invest in AI?
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How do I approach this vast topic?
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And so I've gone through that with with a kind of a beginner's mindset, really, to kind of answer some really fairly straightforward questions about what you should be thinking about, what kind of metrics, what kind of ecosystem do we talk about when we're talking about AI.
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So I've put quite an extensive piece on our website.
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Um, really interesting.
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And then this side of the Atlantic as well, we've had some interesting results on particularly Raspberry Pi knockout results again.
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Shares we had about 20%.
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Absolutely outstanding.
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The key thing there was about it's it's really getting some traction with OEMs.
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This is no longer just a hobbyist kind of uh business, this is very much about going into the automation in industry.
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So really promising science for for them.
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Yeah, as as you say, I mean, when it came to market, it was just known as a hobbyist thing and an educational thing, and yet again, I think the market's underestimated, you know, just how much potential is there with that IP they got.
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Um, yeah, James, you looked at a few things this week too.
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Yeah, a couple of unexpected upgrades actually.
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So we had on the beach actually nudged up their four-year profit guidance.
00:03:44.159 --> 00:03:47.439
It's like a flurry of late bookings for them that's that's sort of done the trick.
00:03:47.520 --> 00:03:50.080
Uh also ASOS, I don't know if you've seen the share price there.
00:03:50.159 --> 00:03:53.120
It's had a really good rally over the last six months to a year.
00:03:53.199 --> 00:03:56.879
Uh return to growth in the fourth quarter, and they nudged up the rehabilitative guidance as well.
00:03:56.960 --> 00:04:02.960
Uh one that let the side down a little bit was AO World, where the sort of the absence of an upgrade hit the share price.
00:04:03.039 --> 00:04:08.319
But I don't know if you spotted, they've uh they've snapped up Jessups from Peter Jones, the old Dragon's Den uh guru.
00:04:08.960 --> 00:04:09.840
That was interesting to you.
00:04:10.000 --> 00:04:16.639
Yeah, it gives more reasons to shop with AO, I guess, and probably a bit of synergy with the Music Magpie business that they bought a few years back.
00:04:16.879 --> 00:04:18.560
Uh lots going on in trust as well.
00:04:18.800 --> 00:04:19.600
Yeah, go on in.
00:04:20.000 --> 00:04:21.759
I was gonna say, yeah, no, that makes complete sense.
00:04:21.839 --> 00:04:23.680
I get you with the Music Magpie link.
00:04:23.920 --> 00:04:26.639
Yeah, yeah, I mean, trust base's been really busy as well, has it, James?
00:04:26.800 --> 00:04:27.920
Yeah, yeah, it has.
00:04:28.079 --> 00:04:32.240
So we had some some really strong numbers this morning from JP Morgan, emerging markets, growth and income.
00:04:32.480 --> 00:04:36.160
I think that's one that Emily Whiting talked about uh on the pod uh fairly recently.
00:04:36.319 --> 00:04:38.000
Uh on the website, I've been quite busy.
00:04:38.240 --> 00:04:45.920
I've done a piece on Asia Pacific funds, different ways to gain exposure, a few managers' thoughts on China and India, which of course are the two big beasts there.
00:04:46.079 --> 00:04:52.720
And I've also done a piece this morning on the uh showdown between uh Bailey Gifford Grove US Growth and Sabah.
00:04:52.800 --> 00:04:56.240
So they've got the AGM coming up on the 23rd of October.
00:04:56.399 --> 00:05:04.240
Um, and there's a note out from InvestEt where they talk about why shareholders should really support the board, performance is recovered, and it's quite a unique strategy.
00:05:04.399 --> 00:05:07.759
So you know that they're very supportive of the board and the existing mandate at the moment.
00:05:08.000 --> 00:05:09.040
It's quite interesting, James.
00:05:09.120 --> 00:05:20.720
Uh I mean I I I'm uh investing personally in Scottish mortgage, and I think people um Lady Gifford, they they have a very similar ethos across their trust base, especially across their main growth stuff.
00:05:20.800 --> 00:05:33.839
So the US stuff does seem to have lagged the Scottish mortgage um performance, and you know, I just I just ask myself why that is, and I suppose it's just comes down to differences and opinions between different fund management teams, I guess.
00:05:34.160 --> 00:05:42.160
Yeah, I I guess so, and and um I think InvestTech make the point that it offers unique exposure to some of those private companies that are hard to access otherwise, yeah.
00:05:42.480 --> 00:05:47.519
Like some Stripe, um Anthropic, OpenAI, one or two others I'm sure you'll know about, Steve.
00:05:47.759 --> 00:05:50.160
Yeah, yeah, interesting stuff.
00:05:50.319 --> 00:05:54.319
Well, I I've been uh obviously have my own helmer for a long, long time.
00:05:54.399 --> 00:05:59.680
Um, came out yesterday, raised guidance for the full year, that's the year to next March.
00:05:59.839 --> 00:06:08.160
Um, not a huge raise, in fairness, but it's thanks to the uh photonics business, which uh we've talked about before, Steve.
00:06:08.399 --> 00:06:10.240
Yeah, Optics, Optics, Optics.
00:06:10.639 --> 00:06:11.120
Absolutely.
00:06:11.360 --> 00:06:24.399
Then this business called AVO and it's based in Horsham, but it's not Horsham, Surrey, it's Horsham, Pennsylvania, and it's a contract manufacturer of photonics, so it doesn't make any products of its own, it just makes stuff for customers.
00:06:24.560 --> 00:06:26.720
Uh sales are growing at like 30%.
00:06:27.439 --> 00:06:37.759
So what Helmer has said is of our 12% organic growth, five of that 12 is coming from it's premium growth, it's coming from the photonics business.
00:06:37.920 --> 00:06:43.519
So they basically they haven't raised a sales forecast, but it's a better product mix.
00:06:43.759 --> 00:06:54.399
So the thing is with Helmer at 30 times, I mean, it actually got up to 40 times forward earnings in the middle of this year, and then it kind of drifted back again.
00:06:54.639 --> 00:07:02.079
It's not a giveaway at 30 times, it's quality business, but it I think it's slightly still for me a little bit richer 30 times.
00:07:02.160 --> 00:07:02.879
Don't know what you think.
00:07:03.040 --> 00:07:14.079
Just I mean, just a bit of colour, I think, for our listeners is I mean, when we talk about photonics, we're really talking about fibre optics and using laser, so using light as well, transmitting data as opposed to using copper cabling.
00:07:14.399 --> 00:07:22.720
Now, there are benefits uh and pros and cons of using both those techniques, but Kate uh copper has been very, very high demand, copper price at sky high.
00:07:22.800 --> 00:07:25.920
We discussed this in previous content that we've we have on our site.
00:07:26.000 --> 00:07:31.759
You can come and search that, it's easy to find just putting copper into our search bar, but also the opto-electronic side of things.
00:07:31.920 --> 00:07:52.480
So, how a lot of businesses are transitioning from copper uh networks into fiber optics, and and no, it's just simply I I've recently got a um I'm a subscriber to Sky TV and Sky's broadband, and they've just been advertising me saying for free we're gonna upgrade our network from copper to fibre because it just seems to be that bit more efficient.
00:07:52.560 --> 00:07:54.480
So interesting debate going forward.
00:07:55.519 --> 00:08:00.240
Uh so this business is I mean it's growing sales at 30%, which is pretty impressive.
00:08:00.399 --> 00:08:11.279
Um, the other thing that uh called called me out actually was uh Wednesday just before the close, and I'm surprised they didn't wait until after the close because it kind of sent sent the shares flying.
00:08:11.360 --> 00:08:22.000
Was Ashd Technology announced uh that they'd received a bid uh from a private equity business called Ember Infrastructure at£6.15.
00:08:22.160 --> 00:08:26.319
Well, this is like 10 minutes before the close, and the shares were trading at£3.40.
00:08:26.480 --> 00:08:29.120
So obviously they absolutely roofed.
00:08:29.279 --> 00:08:33.039
Um they went to about what£5.40,£5.50.
00:08:33.279 --> 00:08:43.679
But the odd thing is yesterday, when the news is in the market, they drifted back again, and even today they're only trading around the£5.20 level, and the bids at£6.15.
00:08:44.080 --> 00:08:48.399
And normally you get the merger arb guys coming in and closing that gap.
00:08:48.639 --> 00:08:52.399
There isn't you know that that gap hasn't closed, and I find that odd.
00:08:52.480 --> 00:08:59.600
I mean, I don't know whether people think Ember's going to come back with another bid because this is their fourth go at taking it over.
00:08:59.759 --> 00:09:08.559
Uh, the first two, the Board of Astrotechnology just rejected out of hand, but they obviously sat down, thought about the third one, and said, up it, up it some more.
00:09:08.879 --> 00:09:13.919
Um, so you've got four£6.15 on the table, shares are trading at£5.20.
00:09:15.440 --> 00:09:26.399
This is the thing, Ian is it's we've seen this so many times, it's it's it's a big premium to the current share price, but go back 18 months and the shares were way higher than even the bid at the moment.
00:09:26.559 --> 00:09:31.519
So you might have long-term investors are really going, actually, how generous really is this?
00:09:31.679 --> 00:09:38.799
Um, all they're really doing is shine a light on the intrinsic value inside the business that's not yet been recognised by the wider market.
00:09:38.960 --> 00:09:42.480
So, really difficult stuff for the um for the ball to to balance.
00:09:42.879 --> 00:09:46.480
Long-term objectives worth taking money up front here and now.
00:09:46.559 --> 00:09:51.279
So, tough ones for well, I mean, three£3.40 clearly wasn't the right price for the shares.
00:09:51.360 --> 00:09:56.159
You know, they did get smashed down after they talked about a couple of contracts that have been uh cancelled.
00:09:56.320 --> 00:09:58.480
But um, what have we got then next week, Steve?
00:09:58.639 --> 00:09:59.600
You got more tech?
00:10:00.240 --> 00:10:07.039
Yeah, I mean it's the the the big story realistically is going to be about micron technology, so big memory uh chipmaker.
00:10:07.200 --> 00:10:13.759
Um, it's uh it's had an stormy run, it's up uh it's up over 300% this year, um, years to date.
00:10:13.919 --> 00:10:19.600
Um, some questions have been asked more recently about again how long can this run keep going, etc.
00:10:19.759 --> 00:10:20.000
etc.
00:10:20.159 --> 00:10:30.240
And just to give you a sense, uh, expectations for earnings are going to be something like a thousand percent higher than they were um um uh before last year.
00:10:30.399 --> 00:10:33.200
So uh I mean massive step forward.
00:10:33.360 --> 00:10:34.320
Is that sustainable?
00:10:34.399 --> 00:10:35.360
That's the big question.
00:10:35.440 --> 00:10:38.000
And if it is sustainable, for how long is it sustainable?
00:10:38.159 --> 00:10:40.080
So um big issues around that.
00:10:40.159 --> 00:10:44.399
Uh ultimately it won't be about just hitting your numbers, it's hit and beat your numbers.
00:10:44.480 --> 00:10:47.120
That's really realistically going to be the tide.
00:10:47.279 --> 00:10:50.240
The other interesting company it's worth uh watching is Jabil.
00:10:50.399 --> 00:10:59.519
Now, Jabbil, probably not that well known this side of the Atlantic, but it's got fingers in so many electronics pies and massive AI um exposure as well.
00:10:59.600 --> 00:11:06.639
So, again, not a cheap company, a bit like Halmer, um, but a very, very strong, you know, consistent compound of value.
00:11:06.879 --> 00:11:07.200
Yeah.
00:11:07.360 --> 00:11:10.000
And James, what are you getting your teeth into next week?
00:11:10.159 --> 00:11:12.080
Yeah, lots going on in the consumer sector.
00:11:12.159 --> 00:11:15.120
So we've got card factory and AG Bar on Tuesday, I think.
00:11:15.200 --> 00:11:18.639
So Iron Brew Maker and the sort of budget freakings cars businesses.
00:11:18.799 --> 00:11:20.320
Greg's third quarter on Wednesday.
00:11:20.399 --> 00:11:26.000
That'll be very interesting, given the kind of heat waves over July and August, how that's what that's done for Light for Light sales.
00:11:26.080 --> 00:11:29.519
I've done my bit, I've eaten enough sausage rolls, so hopefully the smunt is in there.
00:11:29.759 --> 00:11:31.919
And then across the pond, it's um it's a big one.
00:11:32.080 --> 00:11:35.519
It's a Q1 from Nike uh on the 1st of October.
00:11:35.600 --> 00:11:38.799
Now they've really the turnaround there's been real sort of struggle.
00:11:38.879 --> 00:11:41.759
Um and Killian Mbappe, by the way, just put the boot into Nike.
00:11:42.000 --> 00:11:48.320
He's just left after 20 years to become an ambassador and a shareholder in on holding, which is the kind of upstart rival.
00:11:48.399 --> 00:11:50.240
So that'll be very interesting to watch.
00:11:50.320 --> 00:11:50.639
Yeah.
00:11:50.960 --> 00:11:52.639
Wow, that will be interesting.
00:11:52.799 --> 00:11:56.799
Well, I've got I've got saga and weather spoons to look forward to.
00:11:56.879 --> 00:12:02.960
So I'm just wondering what a Venn diagram would look like, how much of an overlap there might be between the two.
00:12:03.519 --> 00:12:06.000
So I'll leave you with that thought.
00:12:06.080 --> 00:12:08.320
Uh have a good weekend, everyone.
00:12:08.399 --> 00:12:13.440
Uh, before we go in, uh let's just remind uh listeners that we've got an upcoming webinar.
00:12:13.519 --> 00:12:17.600
Uh these these are free to to attend, um, it's all online.
00:12:17.840 --> 00:12:21.759
We've got a couple of very, very different investment trusts presenting.
00:12:21.840 --> 00:12:24.879
Um, they're lesser known trusts, I'd I would suggest.
00:12:24.960 --> 00:12:32.960
Um, so really give you uh an insight into growth on the one hand um and income on the other, but they have their own very unique ways of doing it.
00:12:33.039 --> 00:12:46.320
So this is on the 7th of October, um, between six and seven-ish, uh, is it's our go onto our website, go to our uh upcoming events page, register and say it's all for free, and we'll keep you in the loop up until then via email.
00:12:46.799 --> 00:12:47.360
Yep.
00:12:47.679 --> 00:12:49.840
And uh until then, have a good weekend.
00:12:49.919 --> 00:12:51.120
Um, we'll catch you next week.
00:12:51.279 --> 00:12:51.840
Bye for now.
00:12:52.080 --> 00:12:52.960
See you next week.
00:12:53.120 --> 00:12:53.759
Yep.
