It's been a remarkably volatile time in financial markets over the last 18 months in particular. Investors have been riding a wave that started with fresh highs for the index before the ASX 200 fell 13% in six months. Along the way, there have been astounding and outstanding share price moves. 

This volatility, the ongoing fear of a global recession, and concerns over rising interest rates have created a notable shift in investor strategy. People want quality companies with recurring revenues, sturdy product offerings, and a strong track record for growth.

But too many people rushing into the same kind of trade can lead to disappointment. How quickly can we forget the Buy Now Pay Later craze of 2021, or the China reopening trade of earlier this year, or the Wall Street Bets/ASX Bets craze which saw investors pile into junk companies en masse?

We're combining those two themes - rock-solid balance sheets and overcrowded trades - in today's edition of Buy Hold Sell. Livewire's Hans Lee is your moderator. He is joined by Andrew McKie from Elston Asset Management and Rob Crookston from WILSONS. 

Together, they will analyse three stocks that are widely perceived to have those rock-solid qualities and assess whether they have become overcrowded. As a bonus, the fund managers bring along one quality company of their own.  

Note: This episode was taped on Wednesday 12 July 2023.