Equity Mates Investing Podcast

Welcome to FinFest Week 2026, proudly brought to you by Betashares. Over the coming week we’re releasing 10 of our favourite sessions, recorded live at FinFest, Australia’s largest finance festival. Today we’re sharing Build Me a Portfolio with Effie Zahos, Money Editor at 9News, and Ron Hodge, founder and CEO of InvestSMART. If you were starting from scratch, what would actually go in your portfolio, and why? Effie and Ron share how they’d build one. Missed a session on the day? We’re getting all 43 FinFest sessions ready to release on our YouTube channel by 30 November. Want to be there next year? Join the FinFest 2027 waitlist here. A big thank you to all of our FinFest partners, including this session’s stage sponsor, Sustainable Life. Chapters: 00:00 Finfest Welcome 01:34 Building Three Portfolios 04:33 Starting With ETFs 06:09 ETF Overlap and Diversification 08:29 Core and Satellite Investing 11:08 Fees and Regular Investing 14:17 Investing While Saving for Property 18:05 Portfolio Choices and…

Welcome to FinFest Week 2026, proudly brought to you by Betashares. Over the coming week we’re releasing 10 of our favourite sessions, recorded live at FinFest, Australia’s largest finance festival. In Australia’s Next Decade Bryce and Alec sat down with Alex Vynokur, Betashares CEO, to discuss the opportunities and challenges facing Australia, how technology could reshape investing, and the principles investors can use to build wealth over time. Missed a session on the day? We’re getting all 43 FinFest sessions ready to release on our YouTube channel by 30 November. Want to be there next year? Join the FinFest 2027 waitlist here. A big thank you to all of our FinFest partners, including this session’s stage sponsor, Betashares. ——— Want to get involved in the podcast? Record a voice note or send us a message And come and join the conversation in the Equity Mates Facebook Discussion Group. ——— Want more Equity Mates? Across books, podcasts, video and email, however you want to learn about investing – we’ve…

Welcome to FinFest Week 2026, proudly brought to you by Betashares. Over the coming week we’re releasing 10 of our favourite sessions, recorded live at FinFest, Australia’s largest finance festival. Our first session is Companies Behaving Badly with Joe Aston, founder of Rampart, and author of AFR’s Rear Window column for 12 years. Bryce & Ren sat down with Joe to hear the stories behind some of Australia’s biggest corporate dramas, and what investors can learn from them. Missed a session on the day? We’re getting all 43 FinFest sessions ready to release on our FinFest Youtube channel by 30 November. Want to be there next year? Join the FinFest 2027 waitlist here. A big thank you to all of our FinFest partners, including this session’s stage sponsor, Betashares. 00:00 Welcome to FinFest Week 2026 03:39 Meet Joe Aston: The journalist Australian CEOs fear 06:31 Firmus: What went wrong with the IPO? 08:33 NextDC: Red flags in Australia's data centre boom 10:28 QANTAS, Alan Joyce and the turnaround 14:58 The…

Inflation won't budge, interest rates are staying higher for longer, AI spending is reshaping global markets, and Australia's share market is looking increasingly expensive. So where are the opportunities for investors? Bryce & Ren are joined by Seb Mullins, Head of Multi-Asset and Fixed Income at Schroders Australia and Portfolio Manager of the Schroder Real Return Active ETF (ASX: GROW), to make sense of it all. From the Iran conflict and oil prices to the trillion-dollar AI investment boom, Seb explains why volatility is creating winners and losers across shares, bonds and credit. In this episode: 00:00 Why Traditional Diversification Needs a Rethink 02:08 Inflation, Geopolitics & the New Investing Environment 07:39 Sticky Inflation & Where Interest Rates Go Next 15:55 AI's Trillion-Dollar Boom: Opportunity or Bubble? 20:59 Bonds Are Back, but Where Are the Opportunities? 23:40 The Hidden Weakness Beneath US Share Markets 34:33 Crash Indicators, Global Risks & Australia's Outlook 42:14 Beyond Shares +…

Bill Ackman turned a two-person investment club into Pershing Square, a $33 billion investment giant built on high-conviction bets and some of Wall Street’s most famous battles. In New York, Bryce & Ren sit down with the billionaire investor to get his take on whether AI is a bubble, why he sold Alphabet and bought back into Netflix, and his plan to turn Howard Hughes into a modern-day Berkshire Hathaway. Plus, a surprising story about Warren Buffett, and Bill gives his verdict on Bryce & Ren’s own portfolios. In this episode: 00:00 Bill Ackman's Biggest Wins, Losses And Lessons 07:15 Inside The Pershing Square Empire 09:42 Is AI The Biggest Investment Opportunity Or A Bubble? 11:03 Could AI Become A Threat To Humanity? 14:31 Why Bill Is Bullish On Big Tech's AI Spending 16:42 Interest Rates, Inflation And The Fed's Next Move 21:39 Where Bill Sees Opportunities And Hidden Risks 24:40 The Investment Philosophy Behind His Billions 28:09 Why Bill Ackman Is No Longer An Activist Investor 30:02 What Makes A…

Markets are looking increasingly unpredictable, but are investors overlooking some of the world's most reliable businesses? Lazard Asset Management's Warryn Robertson joins Bryce and Ren to explain why he's looking for predictable earnings and strong competitive advantages, and why he's increasingly concerned about what's happening beneath the surface of the share market. From data centres and mobile towers to Visa, lotteries and a surprisingly compelling tax business, Warryn unpacks where he's finding opportunities, why he thinks some popular investments don't stack up and how AI is changing the definition of a great business. In this episode: 00:00 Finding Predictable Stocks 01:38 Warryn’s Investing Origins 04:35 Spotting Financial Red Flags 06:50 Why Infrastructure and Equities 11:22 Visa as a Franchise 13:18 Inflation and Infrastructure 15:45 Inside the Infrastructure Checklist 20:05 Satellite and Tower Assets 24:48 Five Sources of Franchise 29:57 Fund Performance and Positioning 36:01 AI and Business…

Bryce & Ren unpack the growing backlash against data centres after NextDC plunged 42% in a day, and, whether combining Tesla and SpaceX could be Musk's biggest move yet. Plus, with just weeks left in the community portfolio challenge, the boys review their winners, losers and potential final trades. Then Henry Jennings from Marcus Today joins for Pimp My Portfolio, helping a community member tackle ETF overlap, diversification and the art of keeping investing simple. In this episode: 00:00 NextDC crashes 42% as backlash grows 06:57 Breakthroughs, cybersecurity & the compute crunch 10:23 Tesla + SpaceX: Elon Musk's mega-merger plans 15:32 Community portfolio update: Are we beating the market? 17:09 The biggest winners & losers in our portfolio 19:49 October stock picks: What should we buy next? 23:44 Pimp My Portfolio with Henry Jennings 28:07 ETF overlap, diversification & DCA Stocks & ETFs Mentioned: NextDC (ASX: NXT), Goodman Group (ASX: GMG), Tesla (NASDAQ: TSLA), SpaceX (NASDAQ: SPCX), NVIDIA (NASDAQ:…

The S&P 500 keeps climbing, but what if your portfolio is taking on more risk than you realise? Bryce & Ren are joined by Matt Jones, Co-Portfolio Manager of the Fidelity Research Global Equities Fund, to unpack the momentum trade powering global markets and the hidden concentration risks lurking beneath the surface. From AI giants dominating index returns to the overlooked stocks Fidelity believes could be tomorrow’s winners, Matt explains how investors can look under the bonnet of their portfolios. In this episode: 00:00 Introducing Matt Jones 03:11 Momentum Investing Explained: How It Works & Why It Matters 05:49 The Hidden Concentration Risk in the S&P 500 & AI Trade 10:36 Active vs Passive: Are You Paying for an Index-Hugging Fund? 13:02 When Momentum Reverses & How Fidelity Spots Opportunities 19:11 NVIDIA, Microsoft & the Outlook for the AI Trade 24:02 How to Audit Your Portfolio for Hidden Concentration 27:02 Two Unloved Stocks Fidelity Likes Stocks & ETFs Mentioned: NVIDIA (NASDAQ: NVDA), Microsoft…

Elon Musk has unveiled a car that can fly (sort of). But is it enough to get Tesla investors excited? Bryce & Ren unpack the latest from Tesla & Neuralink, dive into TSMC's blockbuster earnings and ask whether cracks are starting to appear in the AI data centre boom. Plus, a listener wants to know how to protect their portfolio from the next market crash. In this episode: 00:00 Elon Musk's flying car 01:49 Tesla's Roadster review 07:48 Neuralink's breakthrough in restoring speech 11:11 TSMC earnings & the AI data centre debate 15:21 Why hyperscaler spending matters more than neocloud debt 17:36 How do you protect your portfolio from a crash? 18:42 Why timing the market doesn't work 24:24 Gold, diversification & preparing for the next downturn Stocks & ETFs Mentioned: Tesla (NASDAQ: TSLA), Apple (NASDAQ: AAPL), Ford (NYSE: F), Ferrari (NYSE: RACE), Taiwan Semiconductor Manufacturing Company (NYSE: TSM), CoreWeave (NASDAQ: CRWV), NVIDIA (NASDAQ: NVDA), Advanced Micro Devices (NASDAQ: AMD), Microsoft (NASDAQ:…

Property prices are slipping, borrowing power is shrinking and the rules of investing in Australian real estate are changing. So is now the time to buy, renovate or sit tight? Bryce & Ren are joined by Pat Noll, founder of Runestone Finance, to answer your biggest property questions. From the future of rentvesting and negative gearing to debt recycling, offset accounts and unlocking equity to buy shares, Pat breaks down the strategies that still stack up and the costly mistakes investors need to avoid. In this episode: 00:00 The Property Questions Investors Are Asking 01:43 Australian Property Prices, Interest Rates & When to Buy 05:47 Borrowing Capacity, Affordability & Changing Investor Strategies 12:14 Renovating, Negative Gearing & the Future of Rentvesting 15:41 Established Homes vs Off-the-Plan Property 18:34 Offset Accounts, Redraw, Loan Splits & Unlocking Equity 28:13 Debt Recycling & Borrowing to Invest in Shares 34:52 Managing Mortgage Stress, Refinancing & Fixed Rates ——— Want to get involved in…

Bumble has been sold for a fraction of its former value & AI data centre stocks are getting smashed, Bryce & Ren unpack the changing fortunes of dating apps, the debt risks lurking behind AI infrastructure, and what history's dot-com bubble can teach us. Plus, a listener from Belgium asks the ultimate investing question: when should you buy, hold or sell a stock like Eli Lilly? And, Owen Rask joins Pimp My Portfolio again, where a simple geared ETF goes head-to-head with a portfolio of tech, resources, gold & Bitcoin. In this episode: 00:00 Are Dating Apps Dead? Bumble's $1.3 Billion Sale 06:47 AI Data Centre Contagion & Rising Debt Risks 11:13 Is the AI Boom Repeating the Dot-Com Bubble? 13:28 Community Question: When Should You Buy, Hold or Sell? 17:33 Eli Lilly Deep Dive: GLP-1 Dominance, Competition & Valuation 27:47 Pimp My Portfolio with Owen Rask 31:36 Resources: How Much Exposure Is Too Much? 37:05 Simplicity Versus Complexity: Who will Outperform? Stocks & ETFs Mentioned: Bumble (NASDAQ: BMBL),…

Your global shares could be soaring, but currency movements might be wiping out your gains. Betashares Senior Investment Strategist Cam Gleeson joins Bryce and Ren to explain how currency hedging works, when hedged and unhedged ETFs outperform, and whether a 50/50 split could be the simplest way to manage currency risk. In this episode: 00:00 Currency Hedging Explained 04:09 Hedged vs Unhedged ETFs 07:19 Currency Risks and Returns 11:38 Blending Hedged and Unhedged 14:11 Hedging Different Assets 17:00 How Time Horizons Matter 20:11 Simplifying Your Strategy 22:04 Where Is the Aussie Dollar Headed 26:50 Long Term ETF Performance 29:16 Final Thoughts ETFs Mentioned: Betashares Japan ETF – Currency Hedged (ASX: HJPN), Betashares Global Shares ETF (ASX: BGBL), Betashares Global Shares Currency Hedged ETF (ASX: HGBL), Betashares Geared US Equity Currency Hedged Complex ETF (ASX: GGUS), Betashares Wealth Builder Diversified All Growth Geared ETF (ASX: GHHF), Betashares Diversified High Growth ETF (ASX: DVHG),…

The S&P 500 is up 14% & Wall Street is celebrating record highs. But beneath the surface, something very different is happening. A staggering 85% of S&P 500 stocks are trading at least 10% below their all-time highs, and some of America's biggest names have been smashed. Bryce & Ren unpack the invisible crash hiding behind the AI boom, explain why a handful of stocks drive most market returns, and explore Charlie Munger's 200-week moving average rule for finding opportunities. Plus, Australia's $44 billion Firmus IPO falls apart, Samsung's profits are exploding, and the boys share what they've learnt about the future of robotics from New York. In this episode: 00:00 The Invisible Crash Hiding Behind Record Market Highs 02:30 Firmus Pulls Its $44 Billion IPO: What Went Wrong? 07:30 Wall Street Hits New Highs & AI Earnings Accelerates 11:41 Why 85% of S&P 500 Stocks Are Down 15:42 Which 4% of Stocks Drive Long-Term Market Returns 18:20 Charlie Munger's Long Term Investing Rule 21:01 Netflix, Nike & Other…

Should you add more ETFs or keep it simple? Is debt recycling worth it? And can putting too much into super actually cost you more in tax? Financial adviser Matt Ingram joins Bryce and Ren to tackle your biggest money questions, from building a diversified portfolio and investing for kids to insurance, buying a home and making the most of your super. Chapters: 00:00 Your Biggest Investing Questions Answered 01:38 Managed Portfolios vs DIY Investing 03:58 Building a Better ETF Portfolio 08:58 ETF Overlap, Capital Gains Tax and Dividend Investing 11:31 HECS Debt, Bonds and Debt Recycling 19:10 Investing for Your Kids 23:54 Super Contributions, Tax Traps and Insurance 31:48 Financial Independence and Buying Your First Home Stocks & ETFs mentioned: Betashares Diversified All Growth ETF (ASX: DHHF), Betashares Wealth Builder Diversified All Growth Geared ETF (ASX: GHHF), Betashares Nasdaq 100 ETF (ASX: NDQ), VanEck MSCI International Quality ETF (ASX: QUAL), Betashares Australia 200 ETF (ASX: A200), Betashares…

Fresh off a 90-minute interview with Bill Ackman, Bryce & Ren are coming to you from Old Mates Pub in Downtown Manhattan. They're unpacking Ackman's biggest investing lessons and the stocks making up his concentrated portfolio. Plus, are Australian businesses really doomed when they expand overseas? The boys explore the Aussie brands making waves in America, the spectacular failures, and what separates the winners from the rest. In this episode: 00:00 First Reactions: Bill Ackman & New York 03:27 Ackman on AI, Buffett & the Everyday Investor 06:23 Inside Bill Ackman's Investing Philosophy 10:24 Ackman's Top Holdings 11:26 Uber's Robotaxi Bet 15:20 Aussie Brands Conquering America 20:19 Why Australian Businesses Fail Overseas Stocks & ETFs Mentioned: Pershing Square Inc. (NYSE: PS), Pershing Square USA (NYSE: PSUS), Pershing Square Holdings (LSE: PSH), Uber Technologies (NYSE: UBER), Brookfield Corporation (NYSE: BN), Microsoft (NASDAQ: MSFT), Amazon (NASDAQ: AMZN), Restaurant Brands International (NYSE:…

Asia is home to half the world’s population, half of global economic activity and more than half of global growth, yet it makes up only around 15% of global benchmarks. Platinum Asia Fund portfolio manager Cameron Robertson joins Bryce & Ren to unpack what Australian investors could be missing. From Korea’s AI hardware boom and China’s overlooked companies to India’s healthcare opportunity, Vietnam’s emerging consumer & Indonesia’s beaten-down valuations, Cameron takes us across the region looking for the companies offering the most compelling opportunities. In this episode: 00:00 Why Australian investors are underweight Asia 04:14 Geopolitical risk, oil prices & emerging-market consumers 07:42 The Asian companies powering the AI boom 17:22 Beyond AI: overlooked opportunities across Asia 21:46 India’s enormous healthcare opportunity 29:47 Vietnam and Indonesia’s emerging middle class 33:20 China: AI enthusiasm, Tencent & an unlikely lighting winner 42:42 The biggest mistakes Australians make investing in…

Live from Central Park in New York, Bryce & Ren unpack a cooling Australian property market before turning to two enormous IPOs testing investor appetite for AI. Anthropic is chasing a potentially record-breaking US listing, while Australian data centre operator Firmus is targeting a valuation that would instantly put it among the ASX’s biggest companies. But, when Firmus is stacked up against global AI infrastructure peers, does the valuation make sense, or is the hype running ahead of the numbers? In this episode: 00:00 Live From Central Park: Property, AI & IPOs 04:06 Australian Property Prices Keep Falling 09:15 Anthropic & Firmus Test the AI Trade 10:31 Inside Anthropic’s Eye-Watering IPO Numbers 14:36 Firmus Targets a $43.7 Billion Valuation 17:27 What Exactly Is an AI Factory? 22:38 Firmus vs Global AI Infrastructure Competitors 27:06 Would Bryce & Ren Buy Firmus? Stocks & ETFs Mentioned: SpaceX (NASDAQ: SPCX), Telstra (ASX: TLS), Woolworths (ASX: WOW), Coles (ASX: COL), Cochlear (ASX: COH),…

AI may be transformational, but does that make AI stocks good investments? Forager Funds Management’s Steve Johnson explains why he’s steering clear of the AI trade, where he’s finding value in Australian small caps, and why he still prefers stocks over property for building long-term wealth. Chapters: 01:48 Steve Johnson on AI 04:28 AI Investing and Bubble Risk 10:33 What Could End the AI Trade 12:35 Forager’s Costly Mistakes 17:12 Software and Small Cap Opportunities 30:06 Motorcycle Holdings and Australia 38:15 Shares Versus Property 41:30 Credit and Australian House Prices 45:05 Advice for Long-Term Investors Stocks & ETFs mentioned: EML Payments (ASX: EML), Fiserv (NYSE: FI), Xero (ASX: XRO), MYOB (formerly ASX: MYO; delisted), Catapult Sports (ASX: CAT), Wix.com (NASDAQ: WIX), Motorcycle Holdings (ASX: MTO), Eagers Automotive (ASX: APE), BYD (HKEX: 01211), Honda Motor (TSE: 7267), Meta Platforms (NASDAQ: META) ——— Want to get involved in the podcast? Record a voice note or send us a message And come…

Bryce & Ren are back with their monthly portfolio check-in after a rough month across global markets. They unpack what’s working, what’s hurting and where they’re putting money to work, from Alphabet to QXO, the boys discuss which positions they’ve sold, what they’re holding on and what they’re eyeing off. Plus, Waymo’s staggering lead in autonomous driving and the latest sign America has blurred the line between investing & sports gambling. In this episode: 00:00 What happened in markets this month 03:20 How global markets performed this month 04:25 Bryce’s Portfolio Performance 06:58 Ren’s Portfolio Performance 08:31 Why Bryce is buying more of 11:40 Waymo’s massive lead in self-driving cars 14:04 Sports team ETFs: investing or gambling? 17:32 Ren’s buy, hold & sell 25:20 Why HUB24 is on Ren’s buy list Stocks & ETFs Mentioned: Axon Enterprise (NASDAQ: AXON), Intuitive Surgical (NASDAQ: ISRG), Eli Lilly (NYSE: LLY), Telix Pharmaceuticals (ASX: TLX), TransMedics Group (NASDAQ: TMDX), Pro Medicus (ASX: PME),…

AI, electrification, renewables & energy security are driving an infrastructure investment boom on a scale Shane Hurst says he hasn’t seen before. ClearBridge Investments portfolio manager joins us to unpack the physical assets sitting beneath these megatrends, from electricity grids & gas pipelines to data centres, water networks & mobile towers, and explains why traditionally defensive utilities are increasingly showing structural growth characteristics. In this episode: 00:00 Why infrastructure is entering a structural growth era 02:34 What actually counts as infrastructure? 08:24 The megatrends driving an infrastructure supercycle 13:36 How the energy grid could transform over the next decade 18:25 The physical infrastructure powering AI 22:04 The biggest risks to the AI infrastructure boom 26:43 Where the trillions in infrastructure investment are flowing 32:26 Active vs passive & how investors can access infrastructure Stocks & ETFs Mentioned: APA Group (ASX: APA), Transurban (ASX: TCL), Atlas Arteria…

The RBA has lifted rates to a 15-year high, so what does that mean for mortgages, inflation and the Australian economy? Bryce & Ren unpack the latest rate rise before turning to SpaceX’s Starship breakthrough & Google’s plans for AI data centres in space. Then Henry Jennings from Marcus Today joins Pimp My Portfolio to help simplify a growth-heavy portfolio, before the Equity Mates community portfolio gets its latest health check. In this episode: 00:00 RBA rates hit a 15-year high 06:50 SpaceX Starship reaches orbit 09:17 Google’s plan for AI data centres in space 11:27 Pimp My Portfolio with Henry Jennings 19:12 Simplifying an ETF portfolio 22:35 Reviewing 16 individual stocks 26:29 Is the Community portfolio beating the market? 29:01 Investment committee: finding the next stock Stocks & ETFs Mentioned: Invesco QQQ (NASDAQ: QQQ), iShares S&P 500 ETF (ASX: IVV), Vanguard Growth ETF (NYSEARCA: VUG), VanEck Semiconductor ETF (NASDAQ: SMH), Vanguard FTSE All-World ex-US ETF (NYSEARCA: VEU), Vanguard High…

Scott Phillips is the Chief Investment Officer at The Motley Fool, but he thinks most people shouldn’t be picking individual stocks. Fresh off writing The One Page Investing Plan, Scott joins Bryce and Ren to explain why simple investing habits often beat complexity, why ETFs should be the default for many investors and why trying to time the next market crash can cost you. Plus, Scott shares his case for shares over investment property, the risks of thematic and leveraged ETFs, and why staying invested matters more than predicting what happens next. Stocks & ETFs mentioned: Berkshire Hathaway (NYSE: BRK.B), John Deere (NYSE: DE), Xerox (NASDAQ: XRX), IBM (NYSE: IBM), Dell Technologies (NYSE: DELL), Visa (NYSE: V), Mastercard (NYSE: MA), Webjet Group (ASX: WJL) Chapters: 00:00 Why Scott Says “Invest Anyway” 01:50 The One Page Investing Plan 07:24 Why Most People Shouldn’t Pick Stocks 11:15 Finding Your Investing “Why” 19:31 The Investing Habits That Actually Matter 26:59 Shares, ETFs and Thematic Investing…

OpenAI hacked an Australian Medicare portal and the government didn’t find out from the company until months later. We unpack what the incident says about AI safety, human error & who should be liable when autonomous systems cross the line. Then, why booming US business activity could spell trouble for interest rates, before closing out Super September with listener questions on the First Home Super Saver Scheme, ETFs & gearing inside super. Plus, we take a trip around the world to check in on the battered “super apps” and ask whether the businesses are stronger than their share prices suggest. In this episode: 00:00 OpenAI hacked Medicare 07:08 When good economic news becomes bad news 11:25 Super September: Your final questions 12:02 First Home Super Saver Scheme explained 17:02 ETFs and taking control of your super 22:11 Gearing inside superannuation 25:41 What exactly is a “super app”? 31:12 Apps under the microscope Stocks & ETFs Mentioned: Betashares Australia 200 ETF (ASX: A200), iShares S&P 500 ETF…

What does Australia look like in 40 years, and what does it mean for your money? Bryce & Ren unpack the latest Intergenerational Report and what an older, slower-growing population could mean for investors. Then they bust the myth that you need $1 million to retire. Mr. Beat Up also returns, putting Southeast Asian super app Grab under the microscope, from its beaten-up share price to its ambitious push into banking & financial services. In this episode: 00:00 — What will Australia look like in 40 years? 02:11 — Australia’s ageing population & slowing economy 07:56 — Canva’s valuation markdown & AI problem 14:12 — Do you really need $1 million to retire? 20:37 — Can shares help your super beat inflation? 22:43 — Mr. Beat Up: Grab 29:02 — Does Grab have a competitive advantage? 35:01 — Grab’s valuation & the super app opportunity Stocks & ETFs Mentioned: Grab Holdings (NASDAQ: GRAB), Uber Technologies (NYSE: UBER), Sea Limited (NYSE: SE), Jumia Technologies (NYSE: JMIA), MercadoLibre (NASDAQ: MELI), Nu…

Cathie Wood is betting that we’re only at the beginning of a technological transformation decades in the making. The ARK Invest founder & CEO joins us to unpack why AI is accelerating faster than expected, how robotaxis and humanoid robots could reshape the physical world, and why healthcare may be one of the market’s most overlooked AI opportunities. Plus, Cathie shares her latest thinking on Bitcoin, crypto, managing risk after ARK’s wild pandemic-era ride and the companies she believes could eventually reach trillion-dollar valuations. In this episode: 00:00 The technologies changing everything 02:05 Why innovation is accelerating 07:52 AI, gene editing & the future of healthcare 11:04 How ARK finds breakthrough technologies 19:31 Cathie Wood’s latest Bitcoin and crypto thesis 27:44 What ARK learned about risk 30:48 Is AI becoming a bubble? 39:00 The next trillion-dollar companies Stocks & ETFs Mentioned: Tesla (NASDAQ: TSLA), NVIDIA (NASDAQ: NVDA), Palantir Technologies (NASDAQ: PLTR), CRISPR…

The Fed is hiking, the RBA could be next, and Australia keeps watching homegrown companies head offshore to list. Bryce & Ren unpack what sticky inflation means for investors, ask why the ASX keeps missing major listings, & bust the retirement myth that a paid-off house and the Age Pension will be enough. Then, Owen Rask joins Pimp My Portfolio to help a community member simplify a portfolio, deal with overlap and think through when it might be worth ripping off the capital gains tax bandaid. 00:00 – The Fed raises rates as inflation stays sticky 04:58 – Why the ASX keeps losing great companies overseas 10:25 – Super September: Is a house and the Age Pension enough? 12:21 – More Australians are reaching retirement with housing debt 16:07 – Why the Age Pension may fall short 17:46 – The risk of retirement rules changing 21:18 – Pimp My Portfolio with Owen Rask 28:18 – ETF overlap, tax consequences & simplifying a portfolio Stocks & ETFs Mentioned: Atlassian (NASDAQ: TEAM), Canva, IREN (NASDAQ: IREN), Grab…

Australia’s small-cap index might have looked calm in FY26, but beneath the surface it was anything but. Ophir Founder and Senior Portfolio Manager Andrew Mitchell joins us to unpack record sector dispersion, why reporting season exposed cracks in the earnings outlook, and how AI & data centre spending are reshaping opportunities for investors. Andrew also takes us inside Ophir’s bottom-up stock-picking process and explains why Codan remains one of the portfolio’s highest-conviction ideas. In this episode: 00:00 Small caps: calm on the surface, chaos underneath 05:45 What reporting season revealed about Australian earnings 09:45 AI, data centres & the changing CapEx trade 14:33 Southern Cross Electrical & Australia’s data centre boom 17:57 Why reporting season volatility is getting harder to navigate 21:56 Inside Ophir’s small-cap investment process 28:44 Why Ophir avoids commodity-driven sectors 33:09 The Codan thesis: gold detectors, drones & defence spending Stocks & ETFs Mentioned: BHP (ASX: BHP), Rio…

AI leaders are calling for the industry to slow down, oil is pushing back towards US$110 a barrel, and Australian growth stocks have had a rough year. Bryce & Ren unpack what the latest AI safety debate could mean for markets, why Saudi Arabia has become central to the oil story, and the ASX growth names worth putting on the watchlist. Plus, Super September continues with a practical look at what actually happens to your super when you die. In this episode: 00:00 Could AI really kill us all? 02:36 AI safety, regulation & the prisoner’s dilemma 08:12 Oil heads back towards US$110 a barrel 13:08 Community question: Where are Australia’s growth stocks? 19:52 ASX growth stocks on the watchlist 23:35 Is ATEC the easiest way to own Australian tech? 25:31 Super September: Where does your super go when you die? 32:17 How to make a binding death benefit nomination Stocks & ETFs Mentioned: EQ Resources (ASX: EQR), Sunrise Energy Metals (ASX: SRL), Minerals 260 (ASX: MI6), Metals X (ASX: MLX), New Hope Corporation…

What does investing look like when you never have to sell? Soul Patts has been listed since 1903, giving CEO Todd Barlow a rare advantage: permanent capital and the freedom to invest wherever he sees the best opportunity. Todd joins Bryce and Alec to explain why Soul Patts is sitting on almost $3 billion in cash, where he sees risks building in private credit, why energy is his preferred ‘no regrets’ AI trade and why Bitcoin still isn’t making the portfolio. In this episode: 00:00 123 years of investing 02:14 Meet Soul Patts CEO Todd Barlow 03:34 The investment philosophy behind Soul Patts 07:01 The power of permanent capital 10:18 Inside the private markets portfolio 13:12 Is private credit getting risky? 17:09 Where Todd sees opportunities today 18:24 Why Soul Patts is sitting on almost $3 billion in cash 22:57 The big themes across the Soul Patts portfolio 23:59 Why Soul Patts sold $1.9 billion of industrial property 26:06 How Todd is investing in the AI boom 30:54 Where Soul Patts goes next ETFs & Stocks…

Apple has finally entered the foldable phone race with the $3,499 iPhone Duo, but is it enough to kick-start the John Ternus era? Bryce and Alec also unpack a remarkable AI breakthrough before Henry Jennings returns to Pimp My Portfolio, where one community member’s love of ETFs has left him doubling down on tech and leverage. Plus, Super September asks whether small extra contributions really matter, and the maths gets big surprisingly quickly. Grab your FinFest tickets today here. And share your thoughts via this link and help shape Betashares Super. You’ll go in the draw for your chance to win 1 of 4 $250 Prezzee gift cards. T&Cs apply. The form is open until midnight AEDT, 30 September 2026. Betashares Holdings Pty Ltd is conducting this competition. Please read the relevant PDS and TMD before deciding whether to invest in the new Betashares Super or Betashares Pension products. In this episode: 00:00 Introduction 02:44 Apple’s $3,500 Foldable iPhone 06:42 AI Gets Smarter, Humans Don’t 11:48 Pimp My…

Tesla’s steering wheel-free Cybercab has hit the road, but the global robotaxi race is getting a lot more crowded, and increasingly, a lot more Chinese. Bryce and Alec unpack who’s actually leading autonomous driving, debate a proposal to let Australians divert part of their Super into their pay packets, and continue Super September by asking whether leaving your retirement savings in the default investment option could be costing you over the long run. Grab your FinFest tickets today here. Share your thoughts via this link and help shape Betashares Super. You’ll go in the draw for your chance to win 1 of 4 $250 Prezzee gift cards. T&Cs apply. The form is open until midnight AEDT, 30 September 2026. Betashares Holdings Pty Ltd is conducting this competition. Please read the relevant PDS and TMD before deciding whether to invest in the new Betashares Super or Betashares Pension products. In this episode: 00:00:00 Who Is Winning The Robotaxi Race? 00:02:42 Tesla Launches A Car With No Controls 00:06:19 China…

More young Australians are building serious share portfolios while feeling increasingly locked out of property, but will investing alone get them where they want to go? Financial adviser Glen Hare joins Bryce and Alec to tackle questions from the Equity Mates community on $1 million windfalls, debt recycling, geared ETFs, investment bonds, rentvesting and super, while challenging investors to work backwards from the life they actually want to fund. In this episode: 00:00 Investing After The Budget 06:18 Investing A Cash Windfall 10:41 ETFs And Portfolio Mistakes 15:51 Investment Bonds Explained 19:48 ETFs Versus Property 25:22 Getting Into Property 28:47 Debt Recycling And Tax 33:40 Optimising Your Super 40:58 Leveraging Inside Super ETFs & Stocks mentioned: Betashares Wealth Builder Geared All Growth Portfolio Complex ETF (ASX: GHHF) If you would like to speak to Glen or any of his team head to equitymates.com/advice and we will put you in touch. ——— Want to get involved in the podcast? Record a voice note…

Betashares Investment Strategist Tom Wickenden joins Bryce and Alec to zoom out on what could matter for investors through the rest of 2026, before Super September tackles the idea that all super funds are basically the same. The differences may look small year to year, but over decades they can compound into serious money. In this episode: 00:00:00 Is The AI Spending Boom Sustainable? 00:02:26 The Biggest CapEx Cycle In History 00:05:41 Can OpenAI And Anthropic Keep Winning? 00:07:24 Investing Through Geopolitical Risk 00:10:00 Why Markets Keep Rising Through Chaos 00:11:03 What Is Driving Australian Shares? 00:15:20 Are All Super Funds Basically The Same? 00:18:11 The Hidden Cost Of Average Performance 00:20:24 How To Compare Your Super Fund Interested in the Ships, Chips and Red Bricks Report? Dive in here. Share your thoughts via this link and help shape Betashares Super. You’ll go in the draw for your chance to win 1 of 4 $250 Prezzee gift cards. T&Cs apply. The form is open until midnight AEDT, 30…

Michael Frazis is back to unpack a market moving faster than ever. From cracks appearing in the AI infrastructure trade and a potential software comeback, to personalised cancer vaccines and the evolution of his own investing strategy, Michael explains why he’s moved from simply holding great growth companies to systematically taking profits and managing momentum. Plus, we dig into Nvidia’s biggest long-term threat, why Apple may have played the AI boom perfectly, and the thinking behind Frazis Capital Partners’ new ROAR Active ETF. In this episode: 00:00 Why markets could be entering a more volatile era 02:27 The AI trade, leverage & the Ashenbrenner blow-up 08:11 Is the AI infrastructure boom starting to crack? 12:25 Cheaper AI models, China & why Apple may be the winner 16:50 The software comeback & where Michael sees opportunities 22:17 Michael Frazis’ new rules for growth & momentum investing 39:25 GLP-1s, Moderna & the next wave of biotech breakthroughs 46:49 Why Frazis Capital launched the ROAR Active…

Apple enters a new era as John Ternus takes the reins from Tim Cook, bringing a product engineer to the top job just as the company searches for its next big platform. Bryce and Alec also unpack ugly results from Star Entertainment and Monash IVF, before kicking off Super September with a simple idea: when it comes to super, the biggest advantage younger investors have isn’t picking the perfect fund, it’s time. Finally, Pimp my Portfolio is back with adviser Henry Jennings shining a light on a community member's portfolio. ETFs & stocks mentioned in this episode: Apple (NASDAQ: AAPL), Star Entertainment Group (ASX: SGR), Monash IVF Group (ASX: MVF) In this episode: 00:00 Introduction 01:31 Apple’s New CEO Era 06:30 Earnings Season’s Big Duds 10:03 Super September Returns 12:39 Why Starting Early Matters 18:56 Is Your Super Insurance Enough? 22:09 Pimp My Portfolio with Henry Jennings Share your thoughts via this link and help shape Betashares Super. You’ll go in the draw for your chance to win 1 of 4 $250…

Andrew Page (Founder, Strawman) is back to make the case for two of the market’s more volatile corners: Australian small caps and Bitcoin. He unpacks why overlooked companies can create outsized opportunities, how AI has transformed his research process, and why one painful lesson from Pro Medicus changed the way he thinks about holding great investments. Then, Andrew explains his remarkable reversal on Bitcoin and why it remains his highest-conviction position. In this episode: 00:00 Introduction 03:55 Small Caps and Conviction 07:44 Finding Winning Investments 14:00 Building a Better Process 18:19 AI Changes Investing 23:41 Andrew’s Small-Cap Pick 29:44 Investing in the AI Boom 35:15 Why Adrad Could Reprice 38:36 Andrew’s Bitcoin Thesis 43:41 Bitcoin Versus Gold 47:03 Bitcoin’s Long-Term Future Stocks & ETFs mentioned: Adrad Holdings (ASX: AHL), Pro Medicus (ASX: PME), Stealth Group Holdings (ASX: SGI), BHP Group (ASX: BHP), Commonwealth Bank (ASX: CBA), Nvidia (NASDAQ: NVDA), Xero (ASX: XRO), News Corp…

Bryce & Ren open up their portfolios for August, breaking down what moved, what didn’t, and why sometimes doing nothing is the best move. They unpack strong months for gold, copper, crypto & growth stocks, dig into Shopify’s rebound from the SaaSpocalypse, and respond to listener concerns about borrowing against the mortgage, geared ETFs and active management fees. In this episode: 00:00 Exciting Finfest speaker announcement 03:33 August markets: rates, debt, reporting season & crypto 05:15 Bryce’s portfolio: gold, copper and Bitcoin deliver 10:26 Ren’s portfolio & the case for doing nothing 15:12 Shopify, AI fears & a 25% month 20:37 Borrowing against the mortgage & geared ETFs 25:24 Are active management fees worth paying? Stocks & ETFs Mentioned: Vanguard Diversified High Growth Index ETF (ASX: VDHG), Global X Copper Miners ETF (ASX: WIRE), Bitcoin, TransMedics Group (NASDAQ: TMDX), Pro Medicus (ASX: PME), Axon Enterprise (NASDAQ: AXON), Alphabet (NASDAQ: GOOGL), Betashares Wealth Builder Diversified All…

Retirement is getting longer, markets are getting more volatile, and the old playbook of simply building a nest egg and drawing it down may need a rethink. PIMCO’s Head of ETF Sales, Kanish Chugh, joins us to unpack how investors can build portfolios designed to generate income for decades. We explore the role of bonds and defensive assets, sequencing risk, why chasing double-digit yields can come with hidden risks, and how your mix of growth, defensive assets & cash should evolve as your goals change. In this episode: 00:00 Why a 30-year retirement changes the investing equation 03:04 Living longer means rethinking your portfolio 06:31 Can you live off income without selling investments? 10:55 Moving from accumulation to spending 16:25 Building the right growth and defensive mix 19:11 The risks behind high advertised yields 21:29 Bonds vs dividends for passive income 31:33 Building your portfolio at every life stage Stocks & ETFs Mentioned: Berkshire Hathaway (NYSE: BRK.B), S&P 500, Nasdaq 100 (ASX: NDQ),…

Fertility rates are collapsing around the world, China’s robotics boom is sending tech valuations into the stratosphere, and some of the market’s most beaten-up stocks are staging serious comebacks. Bryce & Ren unpack what changing demographics could mean for investors, and finish with a deep dive into factor investing, including whether QOZ’s recent outperformance makes it a better bet than A200. 00:00 The global baby bust 07:31 Beaten-up stocks making a comeback 12:03 China’s tech bubble & wild IPO valuations 17:35 China’s humanoid robotics boom 23:00 Community question: QOZ vs A200 24:22 Factor investing explained 29:54 QOZ vs A200: performance, holdings & fees 35:10 How to use factor ETFs in a portfolio Stocks & ETFs Mentioned: Guzman y Gomez (ASX: GYG), CSL Ltd (ASX: CSL), Zip Co (ASX: ZIP), TransMedics Group (NASDAQ: TMDX), Nike (NYSE: NKE), Alibaba Group (NYSE: BABA), Tencent Holdings (HKEX: 0700), Unitree Robotics (SSE STAR Market: 688785), ChangXin Memory Technologies / CXMT (SSE STAR Market:…

Could a share portfolio eventually generate enough income to replace your salary? Plato Investment Management founder Dr Don Hamson joins Bryce and Alec to unpack the maths behind that goal, why dividends have contributed so much to long-term Australian market returns, and the traps investors can fall into when chasing headline yield. Plus, why investors still accumulating wealth may be better served focusing on total return rather than income alone. In this episode: 00:00 Why Dividends Matter 04:17 Dividends Drive Market Returns 07:52 Budget Boosts Income Investing 10:20 Can Dividends Replace Your Salary? 15:39 Retirement Mistakes to Avoid 18:44 Spotting Dividend Traps 22:34 The Dividend Trading Strategy 27:53 Best Sectors for Dividends 31:30 Australia vs Global Dividends 33:14 AI Bubbles and Investor Lessons ——— Want to get involved in the podcast? Record a voice note or send us a message And come and join the conversation in the Equity Mates Facebook Discussion Group. ——— Want more Equity Mates? Across…

Moderna’s latest cancer vaccine results sent its shares soaring 177% in a day, but the bigger story could be what mRNA and AI mean for the future of healthcare investing. Bryce & Ren unpack the breakthrough, check in on the Equity Mates Community Portfolio, investigate Scorpio Tankers as a potential addition, and answer a listener question every stock picker wrestles with: should you buy before, during or after earnings season? In this episode: 00:00 Moderna’s potential cancer breakthrough 01:42 Moderna, Merck and the investing implications 06:49 Are we entering a golden age of healthcare? 09:56 Community portfolio check-in 13:22 Should Scorpio Tankers make the portfolio? 20:33 When should you buy a stock on your watch list? 24:53 How to handle earnings season volatility 27:17 Stop searching for the perfect entry point Stocks & ETFs Mentioned: Moderna (NASDAQ: MRNA), Merck (NYSE: MRK), Eli Lilly (NYSE: LLY), Alphabet (NASDAQ: GOOGL), ResMed (ASX: RMD), ProMedicus (ASX: PME), Telix Pharmaceuticals (ASX: TLX),…

Australians love dividends, but in a higher-rate world, are investors overlooking other ways to generate income? Schroders’ Helen Mason makes the case for public credit, explains why she’s cautious on the private credit boom, and argues that investors need to look beyond headline yield to understand the risk, reliability and liquidity underneath it. In this episode: 00:00 Are Dividends Overrated? 04:20 Rethinking Your Income Options 09:23 Private Credit’s Hidden Risks 13:13 Public vs Private Credit 16:44 Why Australian Credit Is Booming 21:19 Stop Chasing Yield 27:03 How Credit Investors Pick Companies 30:27 What Bond Markets Signal 35:10 What “High Yield” Really Means 39:16 Diversification Beyond Yield ——— Want to get involved in the podcast? Record a voice note or send us a message And come and join the conversation in the Equity Mates Facebook Discussion Group. ——— Want more Equity Mates? Across books, podcasts, video and email, however you want to learn about investing – we’ve got you covered. Keep up…

Data centres are swallowing an ever-bigger share of the world’s electricity, and communities are starting to push back. Bryce & Ren unpack what rising resistance to AI infrastructure means for investors, why long-term borrowing costs are flashing an inflation warning, and the latest results from A2 Milk, JB Hi-Fi & CSL. Then Pimp My Portfolio returns, with Owen Rask reviewing Vishal’s 40-plus-stock portfolio and digging into concentration, selling discipline and what it really takes to let your winners run. 00:00 Data centres face a growing backlash 01:32 FinFest is 10 weeks away 04:17 Data centres, power demand & opposition 10:18 Rising borrowing costs and sticky inflation 13:25 Reporting season: A2 Milk, JB Hi-Fi and CSL 19:27 Anthropic’s staggering revenue growth 21:00 Pimp My Portfolio returns 24:11 Concentration, selling & letting winners run Stocks & ETFs Mentioned: A2 Milk (ASX: A2M), JB Hi-Fi (ASX: JBH), CSL (ASX: CSL), Commonwealth Bank (ASX: CBA), REA Group (ASX: REA), CAR Group (ASX: CAR),…

Having kids can reshape almost every part of a financial plan, from income and borrowing capacity to childcare, super and the possibility of future school fees. Financial adviser Matt Ingram (Northhaven Financial Management) joins Bryce and Alec to unpack how planning ahead can preserve flexibility, why returning to work isn’t always a simple financial calculation, and the decisions worth thinking about well before kids arrive. In this episode: 00:00 Introduction 04:03 Preparing for Income Changes 08:15 Avoiding Lifestyle Creep 10:37 Financial Planning Before Kids 14:09 Maximising Parental Leave 17:56 The True Cost of Childcare 23:01 Public vs Private School 26:13 Funding Private School Fees 29:41 Are Investment Bonds Worth It? 32:03 Closing the Superannuation Gap 34:04 Plan Ahead for Life Changes If you would like to speak to Matt or any of his team head to equitymates.com/advice and we will put you in touch. ——— Want to get involved in the podcast? Record a voice note or send us a message And come and join…

Australian housing is cooling, investors are stepping back, but the big banks are still making billions. Bryce & Ren unpack what the latest lending data actually tells us about house prices, before looking at the extraordinary collapse in diamond prices. Then, they answer a community question on finding stock ideas & using AI in the investing process, followed by running Ren’s stocks through an AI-powered thesis check. In this episode: 00:00 Are Australian house prices really crashing? 02:08 Housing slows as home loan applications fall 08:03 Lab-grown diamonds disrupt a century-old market 12:51 How do you actually find great stock ideas? 18:01 Using AI to research and stress-test investments 23:17 Putting Ren’s portfolio through Claude 26:39 Is the Hims & Hers thesis broken? 29:05 Pro Medicus, valuation and knowing AI’s limits Stocks & ETFs Mentioned: Commonwealth Bank (ASX: CBA), Westpac (ASX: WBC), ANZ (ASX: ANZ), National Australia Bank (ASX: NAB), Anglo American (LSE: AAL), Axon Enterprise (NASDAQ:…

We’re just over halfway through the year, which means it’s time to check the scoreboard. Bryce, Ren, Ally and Betashares’ Cam Gleeson reveal how their $25,000 portfolios are tracking, unpack their latest trades and confront an uncomfortable question: is all that stock picking actually adding value? From Asian tech and cybersecurity to copper, uranium and momentum stocks, there are plenty of lessons on timing, conviction and the dangers of overtrading. In this episode: 00:00 Who’s winning the portfolio challenge? 02:03 A volatile few months for markets 02:37 Cam’s trades and the cost of overtrading 04:46 Ren doubles down on tech 08:09 Ally goes all-in on momentum 11:03 Bryce’s no-trade strategy pays off 13:52 Can anyone beat DHHF? 14:31 The final stretch of the challenge Stocks & ETFs Mentioned: Betashares Diversified All Growth ETF (ASX: DHHF), Deep Yellow (ASX: DYL), REA Group (ASX: REA), Karoon Energy (ASX: KAR), Lynas Rare Earths (ASX: LYC), Betashares Emerging Markets Equity ETF (ASX: BEMG), Betashares…

Markets around the world are hitting record highs and reporting season is delivering plenty for investors to unpack. Bryce & Ren break down results from some unassuming Aussie companies, ask whether the day or frequency of your dollar cost averaging actually matters, and explain how proposed capital gains tax changes could make record-keeping more complicated. Plus, Michael Burry is betting against the AI trade again. Should investors listen to the man who famously called the GFC? 00:00 Markets are hitting record highs 03:58 Australian reporting season: numbers that caught our eye 05:30 Nick Scali, ResMed and REA Group 14:04 Does the day you dollar cost average actually matter? 18:16 How often should you dollar cost average? 22:21 How will the CGT changes affect investors? 28:44 Michael Burry’s latest bets against AI 31:18 Why calling crashes is easier than making money Stocks & ETFs Mentioned: Pinnacle Investment Management Group (ASX: PNI), CAR Group (ASX: CAR), Light & Wonder (ASX: LNW), James Hardie…

Big Tech is spending at a scale we’ve never seen before to build the infrastructure behind AI, but investors are still trying to answer the trillion-dollar question: will the returns justify it? Alec is joined by T. Rowe Price portfolio specialist Sam Ruiz to unpack what earnings season has revealed, where the AI bottlenecks are shifting, and why the hardware supplying the boom may be an easier question to answer than picking the eventual AI winners. In this episode: 00:00 Is the AI Boom Sustainable? 03:52 Big Tech’s Trillion-Dollar AI Bet 06:58 AI Revenue Is Surging 09:17 Who’s Funding the AI Boom? 12:19 The World Needs More Compute 15:55 Why AI Stocks Swing Wildly 20:01 Can AI Earnings Last? 24:37 China’s AI Threat 29:36 AI’s Battle for Your Ecosystem 33:10 Did Apple Miss AI? 37:40 Best Ways to Invest 42:35 Protecting Against an AI Bust ETFs and stocks mentioned: Alphabet (GOOGL / GOOG), Microsoft (MSFT), Amazon (AMZN), Apple (AAPL), Meta (META), Oracle (ORCL), Nvidia (NVDA), AMD (AMD), Intel (INTC), SK…

Bryce is back from 5 weeks in Europe and markets have been anything but quiet. AI stocks plunged & rebounded, leverage wiped out some huge trades, Big Tech delivered monster earnings, and markets pushed back towards record highs despite a shaky macro backdrop. Back home, Australian property prices are finally softening… In this episode: 00:00 - Bryce’s holiday recap & a wild month in markets 04:20 - The AI trade gets a reality check 08:48 - Leverage, margin calls & Leopold Aschenbrenner 12:30 - Is the AI spending boom sustainable? 14:48 - Earnings season delivers blockbuster numbers 21:46 - The companies crushing expectations 25:34 - Iran, inflation & the global macro picture 28:44 - Australia: rates, property prices & staying invested Stocks & ETFs Mentioned: Nvidia (NASDAQ: NVDA), AMD (NASDAQ: AMD), Intel (NASDAQ: INTC), SpaceX, Oracle (NYSE: ORCL), Samsung Electronics, SK Hynix, Alphabet (NASDAQ: GOOGL), Microsoft (NASDAQ: MSFT), Amazon (NASDAQ: AMZN), Apple (NASDAQ: AAPL), Caterpillar (NYSE: CAT), GE…

Big Tech is pouring unprecedented amounts of capital into AI infrastructure, but is it a once-in-a-generation investment opportunity or the beginning of an expensive arms race? Loftus Peak CIO Alex Pollak joins Ren to unpack why hyperscalers continue to spend despite growing bond market concerns, whether AI models will become commoditised, and how investors should think about semiconductors, disruption and portfolio construction as the AI race evolves. In this episode: 00:00 – Has AI moved beyond the bubble debate? 03:03 – Why semiconductor stocks are falling despite record AI spending 09:10 – The bond market, debt and funding the AI buildout 14:31 – Will AI models commoditise or remain valuable? 21:01 – The AI arms race and the prisoner's dilemma 24:43 – Meta, Oracle and the next phase of AI infrastructure 27:12 – How Loftus Peak is managing disruption investing today 34:38 – Beyond AI: biotech, batteries and the next wave of disruption Stocks & ETFs Mentioned: Alphabet (NASDAQ: GOOGL), Amazon (NASDAQ:…