Mailbag, incl: What to do if you’re sure there’s a crash coming? October 11, 2026

Scott Phillips (0:04)

Welcome to Motley Fool Money. Yes, it's Sunday. Yes, it's special. It's even daylight saving. If you live in the developed parts of Australia, oh, that's not gonna go well. It's not gonna go well, not gonna go well. Other than that, it is still special. We still have a mail bag. We still have the man who designed, developed, implemented and carefully and lovingly looks after Australia's premier online investment club, strawman.com.

Here's Andrew Ram Page. I am Scott Phillips from the Motley Fool, and this is our mail bag edition. Mr. Page, now we've got rid of our Queensland listeners. How are you?

Andrew Page (0:38)

Pretty good. Thanks, mate.

Scott Phillips (0:41)

I love that joke.

SPEAKER_3 (0:41)

What I, my parochial miss this week was, it was a long weekend in New South Wales and in other states, I say, because I know there are others, but I don't know enough. And I just assumed it was Australia-wide, but it wasn't.

Scott Phillips (0:59)

No, the X-X was open. Yeah.

SPEAKER_3 (1:02)

So yes, which I do that to all. Is that so? Okay. But I actually, I actually do, I, I'll say this. I do relish the approach that, well, I know you take as well, where it doesn't really matter if I miss a trading day or a week or like frankly a month. Like, could you imagine being that dude where it's like, oh, the market's open.

Andrew Page (1:23)

I've got to be in front of the company. Like, really, that sounds like a lot of hard work.

Scott Phillips (1:27)

It's a long weekend, I can't check my shares. And that's people thinking, it's like, oh, four days, it's a long weekend. I can't check the shares four days. Like, dude, that's a blessing, not a curse, mate. Go with it.

SPEAKER_3 (1:37)

How long do you reckon till 24-7 stop tokenized trading is coming?

Scott Phillips (1:41)

I'm pretty sure we're talking about that's going on 23 hours a day. I think later this year.

SPEAKER_3 (1:47)

It was T plus five settlement when I first started.

Scott Phillips (1:51)

For those that don't know. It was to check some kids.

SPEAKER_3 (1:54)

Yeah, like, so T was the date of the train, and then five business days later, you would settle. So you would have to pay for it all the time.

Scott Phillips (2:00)

That's a week later, yep.

SPEAKER_3 (2:01)

T plus five, then it was the T plus three. Ooh, ooh, the technology.

Scott Phillips (2:06)

What are we now?

SPEAKER_3 (2:07)

T plus one?

Scott Phillips (2:07)

T plus one, yeah.

SPEAKER_3 (2:08)

I mean, it's just going to be just T.

Scott Phillips (2:10)

Of course it's your money. Just take it out. The money's out there or it's not. We can do that with national payments.

Honestly, you know, the most interesting thing about this is once you have 24-7 trading or 24-5 or 23-5 whatever it ends up being, it completely removes the need for international stock markets. Yep. Like, you know, if the NASDAQ is open, the New York Stock Exchange, the ASX, the London, the Deutsche, Heng Seng, Nikkei, it's like, well, hang on, now, it doesn't, they're all open. So do I care? Do I know? I mean, there's still currency to be thoughtful of, and there's still the domicile of the organizations or the physical head office or the legal head office, but other than that, it's kind of like at some point, I mean, I don't want to be the ASX.

If you know, if you're a BHP, if you're News Corp or if you're CSL or if you're Woolies or whoever, you're thinking, hang on, so I can now, people can trade my shares during the Australian working day, yes. Can they trade in Australian dollars probably because the brokers will offer that anyway? What are my shares quoted in? Well, maybe they're in Australian dollars or US dollars, but I can get it translated instantly anyway. Okay, so then, if I'm listed on the New York Stock Exchange, I get all the benefits of the Australian listing plus the US listing. Why the hell would I know this on the US? Or vice versa. If IBM says, well, hang on, I can list for cheaper in London than the US, and my investors can buy on solid shares as easily as, there's the issues with who owns the shares and what the CHESH registry, for example. There are going to be exchange-based reasons, but immediate, instant, timely access, where it's like, it's just like brokers. Which broker do I use? Which exchange do I use? It's kind of the same thing at some level. I don't know what the future is, but I don't want to own shares in ASX in that world. Maybe it's fine, but I'm not going to match it. Don't get me started on the ASX. I know, I didn't know that.