Teaminvest Wealth Builders

Before you invest, what return can you reasonably expect over the next five years? A term deposit quotes you a rate. A share does not, but you can still build a sound estimate from three drivers. Nadine Blayney is joined by Teaminvest co-founder Howard Coleman, who uses Conscious Investor® to walk through the method. Every share return comes from growth in business value, dividends, and changes in market sentiment. Howard shows how to read earnings growth while allowing for one-off years, how to convert a price-to-earnings ratio into an earnings yield, how franking credits change the sum, and how to compare today's P/E with its ten-year range to judge whether sentiment is likely to help or hurt. The theme running through every example is price discipline. A wonderful business can still be the wrong investment at the wrong price, and 'not yet' is not the same as 'never'. Howard also explains why a genuinely attractive combination of low sentiment, healthy dividends and real growth is rare, and why finding one after an hour or two of work is a good result. The episode closes with a viewer question about upcoming IPOs, and why patient investors tend to treat them with caution. Companies are used as examples only. This is general information and education, not personal financial advice.

Segments and key moments

·        00:00  Why your expected return matters

·        01:29  A term deposit versus a share: what can you expect?

·        03:39  The three drivers of a share return

·        05:33  Reading sentiment through the P/E ratio

·        07:18  Adding growth, dividends and sentiment together

·        07:49  Why 'not yet' is not 'never'

·        12:23  When a great business is priced for perfection

·        17:13  Why a good find is rare

·        18:24  Short histories and big share price falls

·        20:21  What a very low P/E can signal

·        23:49  Viewer question: are IPOs worth the interest?

·        26:51  Wrap up

Times are interpolated and indicative.

Fixed block (paste after the outline, exactly as supplied)

 | Subscribe, leave a review, and send your questions to [email protected]. Learn more about value investing at teaminvest.com.au 🎧 Available on [YouTube](https://youtube.com/@teaminvest2007?si=Du-CVL6yVR40ZryF), [Apple Podcasts](https://podcasts.apple.com/au/podcast/teaminvest-wealth-builders/id1811489508) and [Spotify](https://open.spotify.com/show/71dSg1DgpesFF5TcaUsM1j?si=ade33c5f74bb4208). 🎙️ Enjoyed this episode? Don’t forget to subscribe, rate, and leave a review on your favourite podcast platform. It helps us grow and reach more Wealth Builders like you. 💡 More Teaminvest: For more insights into Teaminvest’s disciplined, research-driven approach to investing, visit our [website](https://www.teaminvest.com.au/) and learn how to become part of our investor community. Follow us on: [LinkedIn](https://www.linkedin.com/company/teaminvestaus) | [YouTube](https://youtube.com/@teaminvest2007) | [Instagram](https://www.instagram.com/teaminvest_aus) | [Facebook](https://www.facebook.com/teaminvestaus) 📩 Join the conversation Have thoughts or questions? Email us at [email protected]

🎧 Available on YouTube, Apple Podcasts and Spotify. 

🎙️ Enjoyed this episode? 

Don’t forget to subscribe, rate, and leave a review on your favourite podcast platform. It helps us grow and reach more Wealth Builders like you.

💡 More Teaminvest:

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 IPOs are back in the headlines after the much-hyped Firmus float was withdrawn. But how do you tell a good investment from an expensive story? Anna Napoli is joined by Sanjee Narendran from Teaminvest and Will Taylor, Portfolio Manager and COO at ETFShares, to look at IPOs through a patient investor's eyes.

They explain why the IPO price is rarely the low price, why a float is a sales process designed to achieve the highest possible valuation, and why brokers are paid far more to raise capital than to trade shares. You will hear how to read a prospectus for motive as well as numbers: who is selling, why they are selling, how concentrated the customer base is, and how aggressive the revenue assumptions are.

They also cover the green lights, including recurring revenue, existing profits, modest debt and owners who stay invested, and why Sanjee is happy to wait through at least one economic cycle before considering a new listing.

Four listings are tested against hindsight: Firmus, DigiCo, Guzman y Gomez and Cuscal. A great business is not automatically a great investment at any price, and the most boring business of the four had the most reasonable story.

The episode closes with a viewer question from Dave in Perth about whether waiting for a track record means missing the ground floor, and a reminder to ask who has evidence before you allocate your capital. A useful listen for anyone tempted by the next big float.

Segments and key moments: 

00:00:00 Welcome and why IPOs are back in the spotlight; why companies float and who benefits; what to look for in a prospectus; red flags 

00:10:25 Green lights in a prospectus and why Sanjee is happy to sit it out 

00:11:16 Genuine reasons to list, how long to wait, and Will's green lights 

00:14:38 Why Australia's IPO market is quiet; broker incentives; the Firmus float 

00:21:09 More scrutiny for the next AI data centre listing 

00:22:09 DigiCo: a strong business at too high a price? 00:24:48 Circle of competence and not outsourcing your thinking 

00:27:31 Guzman y Gomez: where the IPO money went 

00:29:53 Cuscal: switching costs, barriers to entry and a reasonable story 

00:30:50 Cuscal continued, FOMO, and the viewer question from Dave in Perth 

00:34:46 Anchoring, social proof and scarcity 

00:35:21 Ground floor of what? Valuation and the Mars question 

00:36:37 Why technology valuations rarely last 

00:38:06 Show me the proof  

Subscribe, leave a review, and send your questions to [email protected]. Learn more about value investing at teaminvest.com.au 

🎧 Available on [YouTube](https://youtube.com/@teaminvest2007?si=Du-CVL6yVR40ZryF), [Apple Podcasts](https://podcasts.apple.com/au/podcast/teaminvest-wealth-builders/id1811489508) and [Spotify](https://open.spotify.com/show/71dSg1DgpesFF5TcaUsM1j?si=ade33c5f74bb4208). 

🎙️ Enjoyed this episode? Don't forget to subscribe, rate, and leave a review on your favourite podcast platform. It helps us grow and reach more Wealth Builders like you. 

💡 More Teaminvest: For more insights into Teaminvest's disciplined, research-driven approach to investing, visit our [website](https://www.teaminvest.com.au/) and learn how to become part of our investor community. Follow us on: [LinkedIn](https://www.linkedin.com/company/teaminvestaus) | [YouTube](https://youtube.com/@teaminvest2007) | [Instagram](https://www.instagram.com/teaminvest_aus) | [Facebook](https://www.facebook.com/teaminvestaus) 

📩 Join the conversation Have thoughts or questions? Email us at [email protected]  General information only, not personal financial advice. Teaminvest Pty Ltd, part of TIP Group, AFSL 334339.

🎧 Available on YouTube, Apple Podcasts and Spotify. 

🎙️ Enjoyed this episode? 

Don’t forget to subscribe, rate, and leave a review on your favourite podcast platform. It helps us grow and reach more Wealth Builders like you.

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Bond yields are moving, markets are reacting, and the relationship between the bond market and share prices is back in focus. This week, Isaac Poole (Chief Investment Officer, Ascalon Capital) and Andrew Coleman (Teaminvest) join host Nadine Blayney to explain why.

Isaac starts with the risk-free rate, the yield that almost every other asset is priced off, and shows how a higher yield flows into equity valuations, credit spreads and currencies. Andrew describes how years of near-free money gave way to a world where capital is scarcer, and why that matters for investors who want seven or eight per cent on their money.

Together they cover the two mathematical reasons shares feel the pull of bond yields, the forces driving yields higher (inflation expectations, a term premium, fiscal deficits and crowding out), and the labour market signal that could mark the top.

In the second half, Andrew looks at which kinds of business are most exposed when borrowing costs rise, which barely notice, and why second-order thinking can reverse the obvious conclusion. The episode closes with a viewer question from Lisa: when a share price has run well ahead of the fundamentals, how do you decide what to do?

If you invest on your own, this is a clear, jargon-free look at why one number sits beneath so many prices, and how patient investors can use a period of repricing to judge the quality of what they own and to ask sharper questions about the debt, competition and demand behind every holding.

Segments and key moments

- 00:00:00 Welcome, guests and why bond yields matter

- 00:02:53 What is happening in bond markets now

- 00:03:59 Opportunity cost: 2021 versus today

- 00:06:04 Earnings yield versus bond yield

- 00:06:22 How the risk-free rate drives valuation models

- 00:07:43 The same effect in the housing market

- 00:08:25 What is driving yields higher

- 00:10:17 Bonds versus equities: why it depends

- 00:11:37 Creative destruction and zombie companies

- 00:14:38 The signal to watch: the labour market

- 00:15:40 Who benefits as yields rise?

- 00:21:59 Second-order thinking: a surprising beneficiary

- 00:24:00 Who is exposed: retail, property and private credit

- 00:26:59 Viewer question: when a share price runs too far

Subscribe, leave a review, and send your questions to [email protected]. Learn more about value investing at teaminvest.com.au 

🎧 Available on [YouTube](https://youtube.com/@teaminvest2007?si=Du-CVL6yVR40ZryF), [Apple Podcasts](https://podcasts.apple.com/au/podcast/teaminvest-wealth-builders/id1811489508) and [Spotify](https://open.spotify.com/show/71dSg1DgpesFF5TcaUsM1j?si=ade33c5f74bb4208).

🎙️ Enjoyed this episode?

Don't forget to subscribe, rate, and leave a review on your favourite podcast platform. It helps us grow and reach more Wealth Builders like you.

💡 More Teaminvest:

For more insights into Teaminvest's disciplined, research-driven approach to investing, visit our [website](https://www.teaminvest.com.au/) and learn how to become part of our investor community.

Follow us on: [LinkedIn](https://www.linkedin.com/company/teaminvestaus) | [YouTube](https://youtube.com/@teaminvest2007) | [Instagram](https://www.instagram.com/teaminvest_aus) | [Facebook](https://www.facebook.com/teaminvestaus)

📩 Join the conversation

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General information only. Not financial product advice. Teaminvest Pty Ltd, part of TIP Group (AFSL 334339). 

🎧 Available on YouTube, Apple Podcasts and Spotify. 

🎙️ Enjoyed this episode? 

Don’t forget to subscribe, rate, and leave a review on your favourite podcast platform. It helps us grow and reach more Wealth Builders like you.

💡 More Teaminvest:

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Follow us on: LinkedIn | YouTube | Instagram | Facebook

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Every investment decision comes down to three choices: buy, hold or sell. Knowing which is which sounds simple. Having the discipline to act on it is the hard part. In this episode of Wealthy + Wise, Andrew Coleman from Teaminvest and Mark Gardner from MPC Markets show how experienced investors work through that decision, and where their views differ.

The conversation starts with principles: why every investment approach is really a judgement about value, how emotional attachment to a company or to the price paid clouds selling decisions, and how trimming a position can keep emotion in check. Mark draws on years of training and funding traders to explain why a partial sale is often easier to stick to than an all-or-nothing one. Andrew also makes the case that there is no prize for the best returns in the market, only for building wealth at a rate and risk level that suits you.

Next, both guests apply a buy, hold or sell lens to three areas of the market: consumer retail, data centre and electrical infrastructure, and businesses linked to the AI boom. They compare growth, moats, debt, management and price, ask whether a business is growing or shrinking, and explain why they sometimes land in different places from the same data.

The episode ends with a viewer question from Roger in Sydney on how to gain exposure to a crowded theme like AI without being burned if the hype fades. The answers cover business quality, position sizing and patience.

•      00:00:00 Welcome: three big forces in the market and the buy, hold, sell exercise

•      00:01:31 Why no one has a perfect crystal ball, and why that matters

•      00:03:06 Every investor is a value investor: price versus value

•      00:03:58 Is selling the hardest discipline to learn?

•      00:05:03 Looking at a holding clean, without the rosy past

•      00:05:36 Trimming instead of selling: a trick from a trading floor

•      00:07:17 The goal is your wealth, not the best returns in the market

•      00:08:42 How to get into a theme like AI without overpaying

•      00:09:37 Do your research before the exam

•      00:10:58 Head to head, round one: consumer retail

•      00:19:56 Round two: data centre and electrical infrastructure

•      00:28:08 Round three: the AI boom and its wildcards

•      00:38:44 Viewer question from Roger in Sydney

•      00:41:38 Position sizing and portfolio management

•      00:45:42 Wrap-up

Subscribe, leave a review, and send your questions to [email protected]. Learn more about value investing at teaminvest.com.au 🎧 Available on [YouTube](https://youtube.com/@teaminvest2007?si=Du-CVL6yVR40ZryF), [Apple Podcasts](https://podcasts.apple.com/au/podcast/teaminvest-wealth-builders/id1811489508) and [Spotify](https://open.spotify.com/show/71dSg1DgpesFF5TcaUsM1j?si=ade33c5f74bb4208).

🎙️ Enjoyed this episode? Don’t forget to subscribe, rate, and leave a review on your favourite podcast platform. It helps us grow and reach more Wealth Builders like you.

💡 More Teaminvest: For more insights into Teaminvest’s disciplined, research-driven approach to investing, visit our [website](https://www.teaminvest.com.au/) and learn how to become part of our investor community.

Follow us on: [LinkedIn](https://www.linkedin.com/company/teaminvestaus) | [YouTube](https://youtube.com/@teaminvest2007) | [Instagram](https://www.instagram.com/teaminvest_aus) | [Facebook](https://www.facebook.com/teaminvestaus)

📩 Join the conversation: Have thoughts or questions? Email us at [email protected] 

🎧 Available on YouTube, Apple Podcasts and Spotify. 

🎙️ Enjoyed this episode? 

Don’t forget to subscribe, rate, and leave a review on your favourite podcast platform. It helps us grow and reach more Wealth Builders like you.

💡 More Teaminvest:

For more insights into Teaminvest’s disciplined, research-driven approach to investing, visit our website and learn how to become part of our investor community. 

Follow us on: LinkedIn | YouTube | Instagram | Facebook

📩  Join the conversation

Have thoughts or questions? Email us at [email protected]

The 52-week high is just a number: the highest price a share has traded at over the past year. Yet it has a remarkable hold on investor behaviour. As a stock nears that high, everyday investors rush to sell, and professional investors are often more than happy to buy what they are selling.

Nadine Blayney is joined by Andrew Coleman, CEO of Teaminvest, and Andrew Grant, Associate Professor of Finance at the University of Sydney, who researches the psychology of household investment decisions and the biases that separate individual investors from institutions.

 They explore why anchoring on the price you paid distorts judgement, how the disposition effect pushes investors to sell winners early and cling to losers, and why a trading platform that shows your purchase price every time you log in may be doing you no favours. Andrew Coleman sets out a better approach: anchor on intrinsic value or, at the very least, the PE ratio, rather than an arbitrary 12-month window.

The conversation then moves from theory to practice, looking at AMP, Data#3, Lycopodium and Codan through 10-year earnings and PE charts to show how a little digging separates rising earnings from rising sentiment. Andrew Coleman also explains why the market is really just an auction, and why heavy volume rarely means the market knows something you don't.

To finish, viewer Sarah from the Gold Coast asks whether waiting for a pullback that never comes is costing her money.

 General information only, not personal financial advice. Teaminvest Pty Ltd (AFSL 334339).

Segment outline
•      00:00:00 Welcome and the big question: why does a new high make investors want to sell?

•      00:01:11 Guests introduced: Andrew Coleman (Teaminvest) and Associate Professor Andrew Grant (University of Sydney)

•      00:01:48 Anchoring, heuristics and the gap between the rational actor and the human investor

•      00:03:38 The disposition effect and "get-even-itis"

•      00:05:25 "We're still monkeys": scarcity instincts and locking in gains

•      00:08:35 Is selling at a fresh high always a mistake?

•      00:09:56 Don't water the weeds and cut the flowers

•      00:11:10 "No one ever went broke taking a profit" and the real opportunity cost

•      00:12:46 Dividends, purpose and thinking about the whole portfolio

•      00:14:12 Theory to practice: AMP, Data#3, Lycopodium and Codan on 10-year charts

•      00:17:34 Why knowledge only compounds in one direction

•      00:24:07 The market is just an auction, and 74% of ASX volume is passive

•      00:28:37 Selling isn't wrong. Selling for the wrong reason is.

•      00:29:24 Viewer question: Sarah from the Gold Coast on missing the boat

•      00:32:04 Wrap-up

Subscribe, leave a review, and send your questions to [email protected]. Learn more about value investing at teaminvest.com.au 🎧 Available on [YouTube](https://youtube.com/@teaminvest2007?si=Du-CVL6yVR40ZryF), [Apple Podcasts](https://podcasts.apple.com/au/podcast/teaminvest-wealth-builders/id1811489508) and [Spotify](https://open.spotify.com/show/71dSg1DgpesFF5TcaUsM1j?si=ade33c5f74bb4208).

🎙️ Enjoyed this episode?

Don’t forget to subscribe, rate, and leave a review on your favourite podcast platform. It helps us grow and reach more Wealth Builders like you.

💡 More Teaminvest:

For more insights into Teaminvest’s disciplined, research-driven approach to investing, visit our [website](https://www.teaminvest.com.au/) and learn how to become part of our investor community.

Follow us on: [LinkedIn](https://www.linkedin.com/company/teaminvestaus) | [YouTube](https://youtube.com/@teaminvest2007) | [Instagram](https://www.instagram.com/teaminvest_aus) | [Facebook](https://www.facebook.com/teaminvestaus)

📩 Join the conversation

Have thoughts or questions? Email us at [email protected]

🎧 Available on YouTube, Apple Podcasts and Spotify. 

🎙️ Enjoyed this episode? 

Don’t forget to subscribe, rate, and leave a review on your favourite podcast platform. It helps us grow and reach more Wealth Builders like you.

💡 More Teaminvest:

For more insights into Teaminvest’s disciplined, research-driven approach to investing, visit our website and learn how to become part of our investor community. 

Follow us on: LinkedIn | YouTube | Instagram | Facebook

📩  Join the conversation

Have thoughts or questions? Email us at [email protected]

Volatile markets are uncomfortable. But for the right kind of investor, they are also productive. This week, Howard Coleman from Teaminvest and David Walsh from Sarto Advisory get specific about where they are finding value across the ASX right now, what they are avoiding, and why a downturn creates exactly the conditions that disciplined, prepared investors have been waiting for.

They share ideas across the market cap spectrum, discuss the counterintuitive logic behind some of their most interesting selections, and Howard offers a historical perspective on investor fear that reframes the current climate in a way only experience can.

Key moments this episode:

00:00 Introduction and why volatile markets demand attention, not avoidance

01:22 Panel introductions: Howard Coleman (Teaminvest) and David Walsh (Sarto Advisory)

02:27 David's read on equity markets: AI winners vs losers, reallocation thinking

03:30 Howard on why net buyers of shares actually prefer lower prices

05:20 The Teaminvest model: 750 members researching fewer than 100 companies

07:59 Why research depth changes the quality of decisions during volatility

10:49 AI, safety regulation, and what it could mean for growth projections

12:49 Howard's generational view: every era has its appointed apocalypse

17:01 David on Propel Funeral Partners: down 43%, 5%+ fully franked yield

20:56 David on PEXA Group: monopoly infrastructure with a regulatory overhang

23:27 Howard on Cedarwoods Properties: P/E of 8, 6% dividend yield, 31% debt to equity

26:34 Howard on CreditCorp: counter-cyclical earnings growing as the economy slows

28:38 David on SGH Limited: patient capital aligned with quality operators

31:45 CSL: great business, roughly fair value, and why that still matters

Subscribe, leave a review, and send your questions to [email protected]. Learn more about value investing at teaminvest.com.au

 🎧 Available on YouTube, Apple Podcasts and Spotify.

 🎙️ Enjoyed this episode?

Don't forget to subscribe, rate, and leave a review on your favourite podcast platform.

 💡 More Teaminvest:

Visit our website and learn how to become part of our investor community.

Follow us on: LinkedIn | YouTube | Instagram | Facebook

 📩 Have thoughts or questions? Email us at [email protected] 

🎧 Available on YouTube, Apple Podcasts and Spotify. 

🎙️ Enjoyed this episode? 

Don’t forget to subscribe, rate, and leave a review on your favourite podcast platform. It helps us grow and reach more Wealth Builders like you.

💡 More Teaminvest:

For more insights into Teaminvest’s disciplined, research-driven approach to investing, visit our website and learn how to become part of our investor community. 

Follow us on: LinkedIn | YouTube | Instagram | Facebook

📩  Join the conversation

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What does risk actually mean to a serious investor? Not volatility. Not a falling share price. Real risk is the permanent loss of capital, and knowing how to identify it before you invest is what separates disciplined wealth builders from the crowd.
 
In this episode, Howard Coleman and Sanjee Narendran share the frameworks Teaminvest's Capital Allocation Team use to evaluate risk across any business. They begin with the simplest filter: does the company make a profit? From there, the conversation moves into balance sheet strength, circle of competence, and how to rate individual risks by both their likelihood and their potential damage to your capital.
 
Three companies go under the microscope: Star Entertainment, Ingenia Communities, and Bubs Australia, each representing a distinct category of risk. The analysis is brisk, practical, and demonstrates precisely how Conscious Investors eliminate poor candidates before spending time on deeper research.
 
The episode closes with a thoughtful viewer question from Sarah in Melbourne on distinguishing a genuinely risky business from one simply having a rough year. The CSL and ARB Corporation examples bring the answer to life.
 
 KEY MOMENTS:
 - 00:00 Redefining risk: permanent loss, not price movement
 - 02:31 Why unprofitable businesses are an easy elimination
 - 04:52 The biggest risk: investing in what you don't understand
 - 09:17 Rating risks by likelihood AND damage separately
 - 12:00 The Woolworths checkout vs. the BP oil rig: a risk comparison
 - 15:56 Debt, the balance sheet, and the Bathlor administration case
 - 18:30 How much diversification is actually enough?
 - 20:03 Star Entertainment: an easy knock-out
 - 20:50 Ingenia Communities: mediocre metrics and a regulated market
 - 23:49 Bubs Australia: the customer retention problem
 - 27:58 Viewer Q&A: Sarah from Melbourne
 - 30:53 Pre-deciding your actions before a risk triggers
 
 Subscribe, leave a review, and send your questions to [email protected]. Learn more about value investing at teaminvest.com.au
 
 🎧 Available on YouTube, Apple Podcasts and Spotify.
 

🎙️ Enjoyed this episode?
Don't forget to subscribe, rate, and leave a review on your favourite podcast platform. It helps us grow and reach more Wealth Builders like you.

 💡 More Teaminvest:
For more insights into Teaminvest's disciplined, research-driven approach to investing, visit our website and learn how to become part of our investor community.

Follow us on: LinkedIn | YouTube | Instagram | Facebook

 📩 Join the conversation
Have thoughts or questions? Email us at [email protected]

🎧 Available on YouTube, Apple Podcasts and Spotify. 

🎙️ Enjoyed this episode? 

Don’t forget to subscribe, rate, and leave a review on your favourite podcast platform. It helps us grow and reach more Wealth Builders like you.

💡 More Teaminvest:

For more insights into Teaminvest’s disciplined, research-driven approach to investing, visit our website and learn how to become part of our investor community. 

Follow us on: LinkedIn | YouTube | Instagram | Facebook

📩  Join the conversation

Have thoughts or questions? Email us at [email protected]

August reporting season delivered more than just earnings results. For the prepared value investor, it delivered opportunity.

In this special family edition of Wealthy + Wise, TeamInvest founders Howard Coleman and Andrew Coleman join Anna Napoli to dissect the highs and lows of the August reporting season across the ASX. Their core message is consistent and compelling: when markets over-react to results, good or bad, a prepared investor does not panic. They plan.

Howard and Andrew explain why their reporting season scorecard sits at 8 out of 10 this year, how the bipolar nature of markets creates genuine buying opportunities twice a year, and why the share price that falls after a strong result is often the most valuable signal of all.

They compare a decade of earnings data across Australia's largest retailers, examine three headline-making results through the Conscious Investor framework, and take a viewer question that cuts straight to the heart of reporting season strategy.

 Key Segments and Timestamps:

•  00:52  Reporting season scorecard: 8 out of 10

•  02:00  How value investors prepare before results arrive

•  05:30  Why strong results still send share prices lower

•  10:00  Reading the earnings chart: BHP vs Data#3

•  15:00  The split consumer economy and second-order thinking

•  20:00  Ten years of retail earnings: JB Hi-Fi vs Harvey Norman

•  26:00  Head-to-head: ProMedicus at a PE of 130

•  28:30  Head-to-head: WiseTech's acquisition-driven growth

•  32:00  Head-to-head: ResMed and the GLP-1 opportunity

•  35:00  AI and the SaaS sector: who benefits and who doesn't

•  38:00  Viewer Q&A: Rob from Adelaide asks the best question of the season

 Subscribe, leave a review, and send your questions to [email protected]. Learn more about value investing at teaminvest.com.au

🎧 Available on YouTube, Apple Podcasts and Spotify. 

🎙️ Enjoyed this episode? 

Don’t forget to subscribe, rate, and leave a review on your favourite podcast platform. It helps us grow and reach more Wealth Builders like you.

💡 More Teaminvest:

For more insights into Teaminvest’s disciplined, research-driven approach to investing, visit our website and learn how to become part of our investor community. 

Follow us on: LinkedIn | YouTube | Instagram | Facebook

📩  Join the conversation

Have thoughts or questions? Email us at [email protected]

What actually separates a genuine long-term opportunity from a story that has run well ahead of the facts? In this episode, Andrew Coleman joins Nadine Blayney to trace why investors are so susceptible to a compelling narrative, drawing on anthropology and the psychology of social proof, before putting the idea to the test against real market history.

They walk through the 2001 tech crash and the surprising list of its "biggest losers", including Cisco, Microsoft and a then-tiny company called Nvidia, then turn the same lens on the green energy transition and the wild mispricing of Whitehaven Coal during 2022. Andrew explains the simple test a patient investor can use to check whether sentiment has outrun fundamentals, and applies the same thinking to today's AI theme. The episode closes with a viewer question from Bronte on Teaminvest holding Data3.

SEGMENT OUTLINE

•     00:00 - Why stories are so persuasive to investors

•     00:53 - The anthropology and psychology behind believing a good story

•     03:00 - When a compelling story starts to outrun the fundamentals

•     05:00 - The emotive-language test and comparing today's PE ratio to history

•     08:40 - Head to head: the 2001 tech crash (Cisco, Microsoft, Nvidia, Michael Saylor)

•     16:23 - Head to head: the green transition and Whitehaven Coal

•     20:35 - Applying the same test to the AI theme

•     24:07 - Viewer question from Bronte: Andrew on Data3's result

Subscribe, leave a review, and send your questions to [email protected]. Learn more about value investing at teaminvest.com.au

 🎧 Available on YouTube, Apple Podcasts and Spotify.

 🎙️ Enjoyed this episode?

Don't forget to subscribe, rate, and leave a review on your favourite podcast platform. It helps us grow and reach more Wealth Builders like you.

 💡 More Teaminvest:

For more insights into Teaminvest's disciplined, research-driven approach to investing, visit our website and learn how to become part of our investor community.

Follow us on: LinkedIn | YouTube | Instagram | Facebook

📩 Join the conversation

Have thoughts or questions? Email us at [email protected] 

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This week's episode goes smaller. With a $1 billion market cap cutoff, Andrew Coleman from Teaminvest and returning guest Richard Hemming from Under the Radar Report work through what reporting season really reveals about the small end of the ASX, the part of the market that rarely gets the scrutiny given to the ASX 50 or ASX 100.

The conversation starts with the fundamentals: what a genuine margin of safety looks like on a small cap balance sheet, why founder-led management can be a strength and a risk in the same result, and why this reporting season is showing a market that has become far less forgiving of companies that can't answer the question, what have you done for me lately.

From there, Andrew and Richard go head to head on a run of results, including a founder-led furniture retailer working through the costs of an offshore expansion, a construction business with a genuine Olympic infrastructure tailwind, and a healthcare device business still waiting on its next big product to clear the line. Andrew also shares his first reaction to CSL's result, and why he thinks the market's initial verdict missed the point entirely.

The episode closes with a viewer question from Sid, following on from last week's Credit Corp discussion, on whether learning from mistakes is a genuine competitive advantage. Andrew's answer covers the three things every investor and every business has access to that compound over time, and why only one of them can only ever compound upward.

●        00:00 — Welcome, and why this week goes smaller: the sub-$1 billion focus

●        01:06 — Richard Hemming from Under the Radar Report joins the panel

●        02:38 — What Richard looks for first in a small cap result: margin of safety

●        05:14 — The K-shaped market, and why this reporting season is more idiosyncratic

●        07:25 — Buffett's first rule of investing, and why small caps raise the stakes on it

●        09:06 — Comparing two retail results under the same discretionary spending pressure

●        14:16 — A founder-led furniture retailer: why Teaminvest exited a long-held position

●        16:23 — A small industrial name with a genuine Olympic infrastructure tailwind

●        21:11 — A healthcare device maker still waiting on its next big product launch

●        24:34 — CSL's result, and why the market's first reaction missed the story

●        29:58 — Voting machine versus weighing machine: Benjamin Graham's lesson revisited

●        31:24 — Viewer question: is learning from your mistakes a competitive advantage?

Subscribe, leave a review, and send your questions to [email protected]. Learn more about value investing at teaminvest.com.au

🎧 Available on YouTube, Apple Podcasts and Spotify.

🎙️ Enjoyed this episode?

Don't forget to subscribe, rate, and leave a review on your favourite podcast platform. It helps us grow and reach more Wealth Builders like you.

💡 More Teaminvest:

For more insights into Teaminvest's disciplined, research-driven approach to investing, visit our website and learn how to become part of our investor community.

Follow us on: LinkedIn | YouTube | Instagram | Facebook

📩 Join the conversation

Have thoughts or questions? Email us at [email protected]

🎧 Available on YouTube, Apple Podcasts and Spotify. 

🎙️ Enjoyed this episode? 

Don’t forget to subscribe, rate, and leave a review on your favourite podcast platform. It helps us grow and reach more Wealth Builders like you.

💡 More Teaminvest:

For more insights into Teaminvest’s disciplined, research-driven approach to investing, visit our website and learn how to become part of our investor community. 

Follow us on: LinkedIn | YouTube | Instagram | Facebook

📩  Join the conversation

Have thoughts or questions? Email us at [email protected]