Welcome to the latest episode of On the Couch with Marcus Today's Henry Jennings.

This episode, Henry sits down with Nick Griffin – founding partner and CIO of Munro Partners. Nick has been on the couch before, and it's a timely catch-up in what has been an 'interesting' market. Full disclosure: Henry is a shareholder of MAET.

Nick brings over 25 years of financial services experience, including 15 years in funds management at K2 and Munro. US AI and global tech themes are on the agenda – and it's a very interesting conversation.

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Marcus Today – Daily Market Insights

Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.

If you'd like to go further:

Start a free 14-day trial of Marcus Today
http://bit.ly/mt-trial-podcast

Join Marcus Today
Use code MTPODCAST for 10% off
http://bit.ly/mt-join-podcast-offer

MT20 – Managed ETF Portfolio
A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
http://bit.ly/mt20-podcast

Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast

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Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.

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IMPORTANT DISCLAIMER – MUNRO PARTNERS

Performance data mentioned in this podcast is as of 16 April 2026. The figures provided are as at 16 April 2026 and reflect more recent market movements. These differ from the 31 March 2026 quarter-end figures previously reported due to timing and valuation updates. For the most current position, please rely on the 16 April figures. This podcast is for general information purposes only, as it is not investment advice of any nature. The information contained in this podcast reflects, as of the date of publication, the views of Munro Partners and sources believed by Munro Partners to be reliable. There can be no guarantee that any projection, forecast or opinion in these materials will be realised. The views expressed in this podcast may change at any time after the date of issue. This information has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making an investment decision in relation to the Funds, investors should obtain independent advice from a licensed professional adviser. Information about the Munro Funds issued in Australia, including the product disclosure statements (PDS), and target market determination (TMD) for the Munro Funds, is available at www.gsfm.com.au, www.munropartners.com or by calling 1300 133 451. Past performance information in this podcast is given for illustrative purposes only and should not be relied upon as an indication of future performance. None of GSFM Responsible Entity Services, Munro Partners, its related bodies or associates, nor any other person guarantees the repayment of capital or the performance of the Funds or any particular returns from the Funds. No representation or warranty is made concerning the accuracy of any data contained in this podcast. You should consider the PDS and Additional Information to the PDS in its entirety before making a decision to acquire or continue to hold an interest in the Funds. This podcast was recorded on 16 April 2026.

Marcus Today – Daily Market Insights

Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.

If you'd like to go further:

Start a free 14-day trial of Marcus Today
http://bit.ly/mt-trial-podcast

Join Marcus Today
Use code MTPODCAST for 10% off
http://bit.ly/mt-join-podcast-offer

MT20 – Managed ETF Portfolio
A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
http://bit.ly/mt20-podcast

Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast

—

Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.

VIDEO AVAILABLE: https://vimeo.com/1181449274

Chris Stott (1851 Capital) joins Callum Newman to break down the current small-cap landscape – and why the next six months may be more difficult than many expect.

In this discussion, Chris outlines how rising interest rates, geopolitical volatility and shifting investor sentiment are shaping opportunities in Australian equities.

Despite near-term caution, he highlights where value is starting to emerge – particularly in beaten-down sectors and less crowded parts of the market.

Topics covered:

• Why interest rates are still the key driver for markets
• Where opportunities are appearing after recent sell-offs
• How to manage risk and position portfolios in volatile conditions
• The reality of small-cap investing, and why 6/10 decisions are enough
• AI, data centres and where structural growth is actually happening
• Why IPOs are drying up and capital is becoming more concentrated

Chris also shares how he thinks about portfolio construction, cash levels, and identifying companies that can genuinely outperform.

About Chris Stott:

Chris is Co-Founder and Chief Investment Officer at 1851 Capital, with over 20 years' experience in Australian funds management. He was previously CIO at Wilson Asset Management and was named one of the AFR's top young fund managers.

Learn more: https://1851capital.com.au/

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Marcus Today – Daily Market Insights

Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.

If you'd like to go further:

Start a free 14-day trial of Marcus Today
http://bit.ly/mt-trial-podcast

Join Marcus Today
Use code MTPODCAST for 10% off
http://bit.ly/mt-join-podcast-offer

MT20 – Managed ETF Portfolio
A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
http://bit.ly/mt20-podcast

Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast

—

Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.

In this episode of On the Couch, Henry Jennings speaks with Coby Hanoch, CEO of Weebit Nano (ASX: WBT), about the surge in memory demand driven by AI.

They discuss the difference between embedded and discrete memory, recent commercial progress, and where ReRAM fits in the next phase of semiconductor growth.

A clear look at what is driving the sector – and what comes next.

—

Marcus Today – Daily Market Insights

Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.

If you'd like to go further:

Start a free 14-day trial of Marcus Today
http://bit.ly/mt-trial-podcast

Join Marcus Today
Use code MTPODCAST for 10% off
http://bit.ly/mt-join-podcast-offer

MT20 – Managed ETF Portfolio
A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
http://bit.ly/mt20-podcast

Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast

—

Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.

Welcome to the latest episode of On the Couch with Henry Jennings from Marcus Today.

In this episode, Henry is joined by his old friend Richard Morrow from Lowell Resources Trust (ASX: LRT). They discuss all things gold – why he still likes the sector and which stocks he recommends.

Richard is the former Chair of the Melbourne Mining Club and a director of LRT.

A great look at the gold sector from a guru in the space.

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Marcus Today – Daily Market Insights

Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.

If you'd like to go further:

Start a free 14-day trial of Marcus Today
http://bit.ly/mt-trial-podcast

Join Marcus Today
Use code MTPODCAST for 10% off
http://bit.ly/mt-join-podcast-offer

MT20 – Managed ETF Portfolio
A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
http://bit.ly/mt20-podcast

Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast

—

Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.

Prefer to watch? Check out the full interview on video here: VIDEO – On the Couch with Gary Norden: Inside a 35-Year Trading Career

A bit of a different approach at Marcus Today; Callum Newman sits down with Gary Norden, a 35+ year pro trader (LIFFE floor, bank derivatives desks, hedge funds) and the author of An End to the Bull – to talk how the pros actually trade when it's their own money on the line. 

In this conversation, Gary explains how professional traders really approach markets; building an edge through knowledge, skill and risk management – and why much of the "sell-side research" investors read is often just a sales tool dressed up as insight.

We cover:

• The professional trader's edge – skills, knowledge, and risk management
• Why bank research gets "taken with a pinch of salt"
• Day trading vs punting – order flow trading as a real craft
• Can humans still compete with algorithms/HFT?
• ETFs, concentration risk, and the "all in / all out" market
• Options – why Gary prefers buying options (hedging + asymmetric upside)
• Gold and silver – why the bull case may not be done yet
• China, commodities, and what Gary sees on the ground.

Standout moments (timestamps):

• 03:58 Why traders ignore sell-side research
• 06:12 Day trading as a professional skill (order flow)
• 11:56 AI, ETFs, and the concentration problem
• 19:35 Options as portfolio "insurance"
• 26:47 Gold vs silver, miners, and what to watch
• 48:25 The red jacket story (and what it meant on the floor)

Gary's book: An End to the Bull: Cut Through the Noise to Develop a Sustainable Trading Career (John Wiley & Sons). 

—

Marcus Today – Daily Market Insights

Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.

If you'd like to go further:

Start a free 14-day trial of Marcus Today
http://bit.ly/mt-trial-podcast

Join Marcus Today
Use code MTPODCAST for 10% off
http://bit.ly/mt-join-podcast-offer

MT20 – Managed ETF Portfolio
A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
http://bit.ly/mt20-podcast

Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast

—

Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.

Welcome to another episode of On the Couch, the podcast series where we chat with brokers, CEOs, and fund managers to bring you valuable insights from the investing world.

In this quickie episode, Henry Jennings is joined by his good friend Andrew Wielandt – also known as The ETF Whisperer.

Andrew shares his ETF picks for the year ahead… and not a QUAL in sight.

Chapter Markers

• 0:00 – Welcome And General Advice Reminder
• 2:03 – 2026 Outlook: Volatility And Passive Risks
• 5:20 – US Politics, Dollar Views And Silver Shock
• 7:10 – Theme 1: Diversifying Away From US With VEU
• 9:10 – Hedging The Currency And Core Adjustments
• 12:00 – Theme 2: Japan Exposure With IJP
• 15:00 – Theme 3: Long Short LICs And LITs Toolkit
• 22:30 – Why Long Short Now And Portfolio Weights
• 25:00 – Theme 4: Aussie Small Caps With Firetrail
• 28:00 – Theme 5: Resources Via Tribeca TGF Or VanEck MVR

—

Marcus Today – Daily Market Insights

Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.

If you'd like to go further:

Start a free 14-day trial of Marcus Today
http://bit.ly/mt-trial-podcast

Join Marcus Today
Use code MTPODCAST for 10% off
http://bit.ly/mt-join-podcast-offer

MT20 – Managed ETF Portfolio
A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
http://bit.ly/mt20-podcast

Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast

—

Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.

Welcome to another episode of On the Couch.

In this episode, Henry Jennings catches up with Scott Kirkland from EMVision Medical Devices (ASX: EMV).

Scott is the co-founder of EMVision Medical Devices Ltd and has held several senior sales roles, including Head of Client Sales at US-based technology company Quantcast, before founding Kirkland Capital to focus on emerging technologies.

At EMVision, Scott oversees corporate affairs, commercial strategy, and business development, while also managing the company's capital requirements – including non-dilutive financing and grant opportunities. He is a member of the Australian Institute of Company Directors.

Many listeners will be familiar with the EMVision story, but in this episode, Scott brings us up to date on the company's mission and progress – as it continues to develop breakthrough medical devices for stroke diagnosis in both first responder and hospital settings.

Chapter Markers

• 0:00 – Welcome, Disclaimers And Personal Stories
• 2:23 – EMVision's Mission And Devices
• 4:15 – First Responder Helmet And ECG Analogy
• 6:03 – The Golden Hour And Treatment Windows
• 8:12 – Trials, Sites And FDA De Novo Plan
• 10:15 – Grants, Regional Impact And Reimbursement
• 12:02 – AI In Stroke Care And Workflow Gains
• 14:05 – Cash Runway, Partners And Milestones
• 16:06 – Go-To-Market Focus And Stroke Belt
• 17:45 – Risks, Focus And Business Model
• 19:00 – Closing Thanks And Next Steps

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Marcus Today – Daily Market Insights

Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.

If you'd like to go further:

Start a free 14-day trial of Marcus Today
http://bit.ly/mt-trial-podcast

Join Marcus Today
Use code MTPODCAST for 10% off
http://bit.ly/mt-join-podcast-offer

MT20 – Managed ETF Portfolio
A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
http://bit.ly/mt20-podcast

Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast

—

Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.

Welcome to the latest episode of On the Couch.

In this episode, Henry Jennings from Marcus Today sits down with Nathan Smith, CEO of Neuroscientific Biopharmaceuticals, to unpack how a differentiated mesenchymal stem cell therapy is progressing from acquisition to patient impact in refractory Crohn's disease.

With promising real-world data via special access programs, a clear regulatory path, and lean execution, the company is preparing for a focused Phase 2 push in 2026.

Topics covered in this episode:

• What the StemSmart MSC platform is – and why differentiation matters
• Special access program results in fistulising Crohn's
• Prior early-phase data and how it informs trial design
• Market size for refractory Crohn's and broader inflammatory targets
• Regulatory steps, including pre-IND and TGA interactions
• Manufacturing tech transfer with QGen and licensure plans
• 2026 milestones across CRO onboarding, trial initiation, and IP expansion
• Cash runway to trial start and approach to raising capital
• Competitive landscape and lessons from Mesoblast's US approval
• A CEO's take on what actually drives market value

—

Marcus Today – Daily Market Insights

Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.

If you'd like to go further:

Start a free 14-day trial of Marcus Today
http://bit.ly/mt-trial-podcast

Join Marcus Today
Use code MTPODCAST for 10% off
http://bit.ly/mt-join-podcast-offer

MT20 – Managed ETF Portfolio
A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
http://bit.ly/mt20-podcast

Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast

—

Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.

Welcome to the latest episode of On the Couch.

In this episode, Henry Jennings sits down with trading mentor and author Louise Bedford – always a popular guest, known for her valuable insights into markets and trading mentality.

Louise shares her approach to selling, the importance of discipline, and breaks down what sectors are currently hot – and which ones are ice cold.

She is a behavioural finance expert, bestselling author, and seasoned trader with over 30 years of experience. Louise hosts the Talking Trading podcast and is widely regarded as one of Australia's most compelling voices in financial markets, with six books to her name.

Chapter Markers

• 0:04 – Welcome And Ground Rules
• 1:49 – Macro Whip-Around: US Vs Australia
• 3:21 – Hot And Cold Sectors Revealed
• 5:01 – Tech's Ice Age And What It Means
• 7:49 – Small Caps, Resources, Materials Opportunities
• 8:53 – Chart Signals: Lithium Standouts
• 10:25 – Managing Big Wins With Thirds
• 13:10 – Stops, ATRs, And Psychology
• 15:22 – Love Affairs With Stocks And Objectivity
• 16:58 – Handling Reporting Season Volatility
• 19:12 – Overtrading, Plans, And The Inner Lunatic
• 21:08 – Using AI As A Trading Mirror
• 23:02 – Agent Mode, Scans, And The Future
• 25:09 – Final Takeaways: Process And Discipline

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Marcus Today – Daily Market Insights

Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.

If you'd like to go further:

Start a free 14-day trial of Marcus Today
http://bit.ly/mt-trial-podcast

Join Marcus Today
Use code MTPODCAST for 10% off
http://bit.ly/mt-join-podcast-offer

MT20 – Managed ETF Portfolio
A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
http://bit.ly/mt20-podcast

Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast

—

Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.