Equity Mates Investing Podcast

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 Lessons07:15 Inside The Pershing Square Empire09:42 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 Spending16:42 Interest Rates, Inflation And The Fed's Next Move21:39 Where Bill Sees Opportunities And Hidden Risks24:40 The Investment Philosophy Behind His Billions28:09 Why Bill Ackman Is No Longer An Activist Investor30:02 What Makes A Business Almost Impossible To Disrupt?32:02 Why He Only Owns A Handful Of Stocks35:32 Why Bill Sold Netflix And Then Bought It Back38:19 Why He Sold Alphabet But Still Owns Big Tech41:08 How Bill Judges CEOs And Uses AI To Research Stocks44:10 What Warren Buffett Taught Bill Ackman47:31 The Secret Behind Berkshire Hathaway's Success50:09 Building The Next Berkshire With Howard Hughes55:36 Why Insurance Is The Key To His Next Big Bet59:24 Bill Ackman Reviews Our Stock Portfolios01:05:37 Why Great Stocks Are Getting Cheaper01:06:50 Bill's High-Conviction Bet On Fannie Mae And Freddie Mac01:08:39 His Biggest Piece Of Advice For Everyday InvestorsStocks & ETFs Mentioned: Pershing Square Inc. (NYSE: PS), Pershing Square USA (NYSE: PSUS), Pershing Square Holdings (LSE: PSH), Berkshire Hathaway (NYSE: BRK.B), Canadian Pacific Kansas City (NYSE: CP), Herbalife (NYSE: HLF), Bausch Health (NYSE: BHC), Wells Fargo (NYSE: WFC), Blackstone (NYSE: BX), KKR (NYSE: KKR), Howard Hughes Holdings (NYSE: HHH), Meta Platforms (NASDAQ: META), Microsoft (NASDAQ: MSFT), Amazon (NASDAQ: AMZN), SpaceX (NASDAQ: SPCX), Apollo Global Management (NYSE: APO), Uber (NYSE: UBER), Restaurant Brands International (NYSE: QSR), Wendy’s (NASDAQ: WEN), Netflix (NASDAQ: NFLX), Alphabet (NASDAQ: GOOGL), Visa (NYSE: V), Mastercard (NYSE: MA), Simon Property Group (NYSE: SPG), Apple (NASDAQ: AAPL), Axon Enterprise (NASDAQ: AXON), Eli Lilly (NYSE: LLY), Spotify (NYSE: SPOT), Universal Music Group (Euronext Amsterdam: UMG), Intuitive Surgical (NASDAQ: ISRG), TransMedics (NASDAQ: TMDX), MercadoLibre (NASDAQ: MELI), Sea Limited (NYSE: SE), Fannie Mae (OTC: FNMA), Freddie Mac (OTC: FMCC)———Want to get involved in the podcast? Record a voice note or send us a messageAnd 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 with the news moving markets with our daily newsletter and podcast (Apple | Spotify)We’re particularly excited to share our latest show: Basis PointsListen to the podcast (Apple | Spotify)Watch on YouTubeRead the monthly email———Looking for some of our favourite research tools?Download our free Basics of ETF handbookOr our free 4-step stock checklistFind company information on TIKRResearch reports from Good ResearchTrack your portfolio with Sharesight———This podcast is intended for education and entertainment purposes only. Any advice is general advice and has not taken into account your personal financial circumstances. Before acting on general advice, you should consider if it is relevant to your needs. If unsure, speak to a financial professional. The host of this podcast and their guests may have positions in the companies mentioned. Equity Mates Media is part of the Betashares Group but maintains editorial independence and operates under Australian Financial Services licence 540697.

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 Stocks01:38 Warryn’s Investing Origins04:35 Spotting Financial Red Flags06:50 Why Infrastructure and Equities11:22 Visa as a Franchise13:18 Inflation and Infrastructure15:45 Inside the Infrastructure Checklist20:05 Satellite and Tower Assets24:48 Five Sources of Franchise29:57 Fund Performance and Positioning36:01 AI and Business Predictability38:31 H&R Block’s Hidden StrengthStocks & ETFs mentioned: Visa (NYSE: V), SES (Euronext Paris: SESG), American Tower (NYSE: AMT), Crown Castle (NYSE: CCI), Cellnex Telecom (BME: CLNX), Anheuser-Busch InBev (EBR: ABI), Brightstar Lottery (NYSE: BRSL), La Française des Jeux (EPA: FDJ), PayPal (NASDAQ: PYPL), H&R Block (NYSE: HRB)———Want to get involved in the podcast? Record a voice note or send us a messageAnd 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 with the news moving markets with our daily newsletter and podcast (Apple | Spotify)We’re particularly excited to share our latest show: Basis PointsListen to the podcast (Apple | Spotify)Watch on YouTubeRead the monthly email———Looking for some of our favourite research tools?Download our free Basics of ETF handbookOr our free 4-step stock checklistFind company information on TIKRResearch reports from Good ResearchTrack your portfolio with Sharesight———This podcast is intended for education and entertainment purposes only. Any advice is general advice and has not taken into account your personal financial circumstances. Before acting on general advice, you should consider if it is relevant to your needs. If unsure, speak to a financial professional. The host of this podcast and their guests may have positions in the companies mentioned. Equity Mates Media is part of the Betashares Group but maintains editorial independence and operates under Australian Financial Services licence 540697.

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 grows06:57 Breakthroughs, cybersecurity & the compute crunch10:23 Tesla + SpaceX: Elon Musk's mega-merger plans15:32 Community portfolio update: Are we beating the market?17:09 The biggest winners & losers in our portfolio19:49 October stock picks: What should we buy next?23:44 Pimp My Portfolio with Henry Jennings28:07 ETF overlap, diversification & DCAStocks & ETFs Mentioned: NextDC (ASX: NXT), Goodman Group (ASX: GMG), Tesla (NASDAQ: TSLA), SpaceX (NASDAQ: SPCX), NVIDIA (NASDAQ: NVDA), Amazon (NASDAQ: AMZN), Walmart (NYSE: WMT), Betashares Diversified All Growth ETF (ASX: DHHF), PWR Holdings (ASX: PWH), Pro Medicus (ASX: PME), Caterpillar (NYSE: CAT), Global X Artificial Intelligence Infrastructure ETF (ASX: AINF), Taiwan Semiconductor Manufacturing Company (NYSE: TSM), GE Vernova (NYSE: GEV), Telix Pharmaceuticals (ASX: TLX), Codan (ASX: CDA), Betashares Electric Vehicles and Future Mobility ETF (ASX: DRIV), Catapult Group International (ASX: CAT), Motorcycle Holdings (ASX: MTO), SK Hynix (KRX: 000660), APA Group (ASX: APA), ResMed (ASX: RMD), Intuitive Surgical (NASDAQ: ISRG), HUB24 (ASX: HUB), Meta Platforms (NASDAQ: META), iShares S&P 500 ETF (ASX: IVV), Vanguard Australian Shares Index ETF (ASX: VAS), Vanguard FTSE Europe Shares ETF (ASX: VEQ), Vanguard FTSE Asia ex Japan Shares Index ETF (ASX: VAE), Betashares Global Cybersecurity ETF (ASX: HACK), Global X Physical Gold Structured (ASX: GOLD), Global X Defence Tech ETF (ASX: DTEC), iShares MSCI Emerging Markets AUD ETF (ASX: IEM)———Rich Girl Summer is just around the corner and to get you prepared, Equity Mates & Betashares are teaming up for an investing event designed to help women feel more confident with their money.Whether you're just starting your investing journey or looking to take it to the next level, bring a friend (or a few!) and join us for an evening of great conversations, cocktails, canapés & good company.Because investing is better when you're learning together.Sydney | 12th NovemberTickets are limited, so make sure you secure your spots here!———Want to get involved in the podcast? Record a voice note or send us a messageAnd 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 with the news moving markets with our daily newsletter and podcast (Apple | Spotify)We’re particularly excited to share our latest show: Basis PointsListen to the podcast (Apple | Spotify)Watch on YouTubeRead the monthly email———Looking for some of our favourite research tools?Download our free Basics of ETF handbookOr our free 4-step stock checklistFind company information on TIKRResearch reports from Good ResearchTrack your portfolio with Sharesight———This podcast is intended for education and entertainment purposes only. Any advice is general advice and has not taken into account your personal financial circumstances. Before acting on general advice, you should consider if it is relevant to your needs. If unsure, speak to a financial professional. The host of this podcast and their guests may have positions in the companies mentioned. Equity Mates Media is part of the Betashares Group but maintains editorial independence and operates under Australian Financial Services licence 540697.

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 Trade10:36 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 LikesStocks & ETFs Mentioned: NVIDIA (NASDAQ: NVDA), Microsoft (NASDAQ: MSFT), Alphabet (NASDAQ: GOOGL), Taiwan Semiconductor Manufacturing Company (NYSE: TSM), Samsung Electronics (KRX: 005930), Meta Platforms (NASDAQ: META), CoreWeave (NASDAQ: CRWV), Firmus, Amer Sports (NYSE: AS), Nike (NYSE: NKE), Lululemon Athletica (NASDAQ: LULU), LVMH (EPA: MC), Moncler (BIT: MONC), Scout24 (ETR: G24), REA Group (ASX: REA), CoStar Group (NASDAQ: CSGP), Domain Holdings Australia, Zillow Group (NASDAQ: Z), Salesforce (NYSE: CRM)Case study referenced: When momentum becomes the market | Investment Insights | Fidelity AustraliaLearn more about the Fidelity Research Global Equities Fund and Fidelity’s approach to systematic investing at fidelity.com.auInvestors should consider the PDS and TMD available at fidelity.com.au, and whether this product is suitable for you. FIL Responsible Entity (Australia) Limited, ABN 33 148 059 009, AFSL 409 340.———Want to get involved in the podcast? Record a voice note or send us a messageAnd 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 with the news moving markets with our daily newsletter and podcast (Apple | Spotify)We’re particularly excited to share our latest show: Basis PointsListen to the podcast (Apple | Spotify)Watch on YouTubeRead the monthly email———Looking for some of our favourite research tools?Download our free Basics of ETF handbookOr our free 4-step stock checklistFind company information on TIKRResearch reports from Good ResearchTrack your portfolio with Sharesight———This podcast is intended for education and entertainment purposes only. Any advice is general advice and has not taken into account your personal financial circumstances. Before acting on general advice, you should consider if it is relevant to your needs. If unsure, speak to a financial professional. The host of this podcast and their guests may have positions in the companies mentioned. Equity Mates Media is part of the Betashares Group but maintains editorial independence and operates under Australian Financial Services licence 540697.

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 car01:49 Tesla's Roadster review07:48 Neuralink's breakthrough in restoring speech11:11 TSMC earnings & the AI data centre debate15:21 Why hyperscaler spending matters more than neocloud debt17:36 How do you protect your portfolio from a crash?18:42 Why timing the market doesn't work24:24 Gold, diversification & preparing for the next downturnStocks & 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: MSFT), Amazon (NASDAQ: AMZN), Alphabet (NASDAQ: GOOGL), Spotify (NYSE: SPOT), Eli Lilly (NYSE: LLY), IREN (NASDAQ: IREN), Nebius Group (NASDAQ: NBIS), Goldman Sachs (NYSE: GS)———Want to get involved in the podcast? Record a voice note or send us a messageAnd 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 with the news moving markets with our daily newsletter and podcast (Apple | Spotify)We’re particularly excited to share our latest show: Basis PointsListen to the podcast (Apple | Spotify)Watch on YouTubeRead the monthly email———Looking for some of our favourite research tools?Download our free Basics of ETF handbookOr our free 4-step stock checklistFind company information on TIKRResearch reports from Good ResearchTrack your portfolio with Sharesight———This podcast is intended for education and entertainment purposes only. Any advice is general advice and has not taken into account your personal financial circumstances. Before acting on general advice, you should consider if it is relevant to your needs. If unsure, speak to a financial professional. The host of this podcast and their guests may have positions in the companies mentioned. Equity Mates Media is part of the Betashares Group but maintains editorial independence and operates under Australian Financial Services licence 540697.

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 Asking01:43 Australian Property Prices, Interest Rates & When to Buy05:47 Borrowing Capacity, Affordability & Changing Investor Strategies12:14 Renovating, Negative Gearing & the Future of Rentvesting15:41 Established Homes vs Off-the-Plan Property18:34 Offset Accounts, Redraw, Loan Splits & Unlocking Equity28:13 Debt Recycling & Borrowing to Invest in Shares34:52 Managing Mortgage Stress, Refinancing & Fixed Rates———Want to get involved in the podcast? Record a voice note or send us a messageAnd 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 with the news moving markets with our daily newsletter and podcast (Apple | Spotify)We’re particularly excited to share our latest show: Basis PointsListen to the podcast (Apple | Spotify)Watch on YouTubeRead the monthly email———Looking for some of our favourite research tools?Download our free Basics of ETF handbookOr our free 4-step stock checklistFind company information on TIKRResearch reports from Good ResearchTrack your portfolio with Sharesight———This podcast is intended for education and entertainment purposes only. Any advice is general advice and has not taken into account your personal financial circumstances. Before acting on general advice, you should consider if it is relevant to your needs. If unsure, speak to a financial professional. The host of this podcast and their guests may have positions in the companies mentioned. Equity Mates Media is part of the Betashares Group but maintains editorial independence and operates under Australian Financial Services licence 540697.

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 Sale06:47 AI Data Centre Contagion & Rising Debt Risks11:13 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 & Valuation27:47 Pimp My Portfolio with Owen Rask31:36 Resources: How Much Exposure Is Too Much?37:05 Simplicity Versus Complexity: Who will Outperform?Stocks & ETFs Mentioned: Bumble (NASDAQ: BMBL), Match Group (NASDAQ: MTCH), Grindr (NYSE: GRND), Firmus, AirTrunk, CoreWeave (NASDAQ: CRWV), Nebius Group (NASDAQ: NBIS), IREN (NASDAQ: IREN), CXMT, Anthropic, OpenAI, Eli Lilly (NYSE: LLY), Novo Nordisk (NYSE: NVO), Pfizer (NYSE: PFE), Merck & Co. (NYSE: MRK), Mounjaro, Ozempic, CagriSema, tirzepatide, retatrutide, Keytruda, Stellar Resources (ASX: SRZ), Interactive Brokers (NASDAQ: IBKR), Betashares Wealth Builder Diversified All Growth Geared ETF (ASX: GHHF), Betashares NASDAQ 100 ETF (ASX: NDQ), iShares S&P 500 ETF (ASX: IVV), Betashares Geared Australian Shares Fund (ASX: G200), Global X Physical Gold ETF (ASX: GOLD), Betashares Australian Resources Sector ETF (ASX: QRE), Global X Copper Miners ETF (ASX: WIRE), Betashares Gold Bullion ETF (ASX: QAU), Betashares Energy Transition Metals ETF (ASX: XMET), BHP Group (ASX: BHP)———Rich Girl Summer is just around the corner and to get you prepared, Equity Mates & Betashares are teaming up for an investing event designed to help women feel more confident with their money.Whether you're just starting your investing journey or looking to take it to the next level, bring a friend (or a few!) and join us for an evening of great conversations, cocktails, canapés and good company. Because investing is better when you're learning togetherSydney | 12th NovemberTickets are limited, so make sure you secure your spots here———Want to get involved in the podcast? Record a voice note or send us a messageAnd 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 with the news moving markets with our daily newsletter and podcast (Apple | Spotify)We’re particularly excited to share our latest show: Basis PointsListen to the podcast (Apple | Spotify)Watch on YouTubeRead the monthly email———Looking for some of our favourite research tools?Download our free Basics of ETF handbookOr our free 4-step stock checklistFind company information on TIKRResearch reports from Good ResearchTrack your portfolio with Sharesight———This podcast is intended for education and entertainment purposes only. Any advice is general advice and has not taken into account your personal financial circumstances. Before acting on general advice, you should consider if it is relevant to your needs. If unsure, speak to a financial professional. The host of this podcast and their guests may have positions in the companies mentioned. Equity Mates Media is part of the Betashares Group but maintains editorial independence and operates under Australian Financial Services licence 540697.

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 Explained04:09 Hedged vs Unhedged ETFs07:19 Currency Risks and Returns11:38 Blending Hedged and Unhedged14:11 Hedging Different Assets17:00 How Time Horizons Matter20:11 Simplifying Your Strategy22:04 Where Is the Aussie Dollar Headed26:50 Long Term ETF Performance29:16 Final ThoughtsETFs 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), Betashares Diversified Growth ETF (ASX: DVGR), Betashares Diversified Balanced ETF (ASX: DVBA)——-Betashares Capital Ltd (ABN 78 139 566 868 AFSL 341181) is the issuer of the Betashares Funds, as well as Betashares Invest, the IDPS-like scheme available via Betashares Direct. Read the relevant Product Disclosure Statement and Target Market Determination, available at www.betashares.com.au, before making an investment decision. This information is general in nature and doesn’t take into account any person’s financial objectives, situation or needs. You should consider its appropriateness taking into account such factors and seek professional financial advice. Customers are not permitted to participate in more than one Betashares offer, promotion or incentive at the same time. If you are currently participating in, or have accepted, any other Betashares offer, you will not be eligible for this offer unless expressly stated otherwise. The $25 will expire in 60 days from receipt if not used to make an investment.Want to get involved in the podcast? Record a voice note or send us a messageAnd 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 with the news moving markets with our daily newsletter and podcast (Apple | Spotify)We’re particularly excited to share our latest show: Basis PointsListen to the podcast (Apple | Spotify)Watch on YouTubeRead the monthly email———Looking for some of our favourite research tools?Download our free Basics of ETF handbookOr our free 4-step stock checklistFind company information on TIKRResearch reports from Good ResearchTrack your portfolio with Sharesight——-This podcast is intended for education and entertainment purposes only. Any advice is general advice and has not taken into account your personal financial circumstances. Before acting on general advice, you should consider if it is relevant to your needs. If unsure, speak to a financial professional. The host of this podcast and their guests may have positions in the companies mentioned. Equity Mates Media is part of the Betashares Group but maintains editorial independence and operates under Australian Financial Services licence 540697.

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 Highs02:30 Firmus Pulls Its $44 Billion IPO: What Went Wrong?07:30 Wall Street Hits New Highs & AI Earnings Accelerates11:41 Why 85% of S&P 500 Stocks Are Down15:42 Which 4% of Stocks Drive Long-Term Market Returns18:20 Charlie Munger's Long Term Investing Rule21:01 Netflix, Nike & Other Beaten-Down Stocks24:30 The Mag Seven: Which Stocks Are a Buying Opp?Stocks & ETFs Mentioned: Maas Group (ASX: MGH), Woolworths (ASX: WOW), Coles (ASX: COL), Cochlear (ASX: COH), Argo Investments (ASX: ARG), SK Hynix (KRX: 000660), Samsung Electronics (KRX: 005930), The Trade Desk (NASDAQ: TTD), AppLovin (NASDAQ: APP), Fair Isaac Corporation (NYSE: FICO), CoStar Group (NASDAQ: CSGP), Lululemon Athletica (NASDAQ: LULU), Intuit (NASDAQ: INTU), McDonald's (NYSE: MCD), Netflix (NASDAQ: NFLX), Starbucks (NASDAQ: SBUX), Walmart (NASDAQ: WMT), Home Depot (NYSE: HD), Boeing (NYSE: BA), Intel (NASDAQ: INTC), General Electric (NYSE: GE), IBM (NYSE: IBM), Apple (NASDAQ: AAPL), Nike (NYSE: NKE), Warner Bros. Discovery (NASDAQ: WBD), Pfizer (NYSE: PFE), PepsiCo (NASDAQ: PEP), Procter & Gamble (NYSE: PG), PayPal (NASDAQ: PYPL), Salesforce (NYSE: CRM), Oracle (NYSE: ORCL), Adobe (NASDAQ: ADBE), United Parcel Service (NYSE: UPS), Alphabet (NASDAQ: GOOGL), Meta Platforms (NASDAQ: META), Nvidia (NASDAQ: NVDA), Microsoft (NASDAQ: MSFT), Amazon (NASDAQ: AMZN), Tesla (NASDAQ: TSLA)———Want to get involved in the podcast? Record a voice note or send us a messageAnd 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 with the news moving markets with our daily newsletter and podcast (Apple | Spotify)We’re particularly excited to share our latest show: Basis PointsListen to the podcast (Apple | Spotify)Watch on YouTubeRead the monthly email———Looking for some of our favourite research tools?Download our free Basics of ETF handbookOr our free 4-step stock checklistFind company information on TIKRResearch reports from Good ResearchTrack your portfolio with Sharesight———This podcast is intended for education and entertainment purposes only. Any advice is general advice and has not taken into account your personal financial circumstances. Before acting on general advice, you should consider if it is relevant to your needs. If unsure, speak to a financial professional. The host of this podcast and their guests may have positions in the companies mentioned. Equity Mates Media is part of the Betashares Group but maintains editorial independence and operates under Australian Financial Services licence 540697.