In this episode, we once again showcase Wealthy + Wi$e, our collaboration with ausbiz. We look at whether you really can pick "unicorns". The challenge is that unicorns are only obvious in hindsight, but dogs are easier to identify early.

A unicorn is a company that gives extraordinary long term returns, but you usually only realise it's a unicorn down the track.

But dogs are easier to spot. The warning signs include companies that have never made a profit, shrinking earnings, too much debt, and management with a track record of poor or unethical decisions, or illegal activity.

Star Entertainment is a case in point.

And there are more dogs than you think. In fact, more than half of the companies on the ASX are loss making.

We hear from Teaminvest's Andrew Coleman, Brian Han from Morningstar, and Marc Whittaker from IML. Their advice is to avoid dogs and don't chase unicorns, because avoiding bad companies is easier than finding stars.

They tell us who they see as dogs and who they see as unicorns among these stocks: Myer (ASX:MYR) , EML (ASX:EML), Star (ASX:SGR), Healius (ASX:HLS), TechnologyOne (ASX:TNE), REA Group (ASX:REA), Cleanaway (ASX:CWY), and Jumbo (ASX:JIN).

*Partner content

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In this episode of Wealthy & Wise, the team takes a look at reporting season through the lens of a value investor.

We hear from Teaminvest's Howard Coleman and Sanjee Narendran. And The Motley Fool's Scott Phillips gives his take on reporting season winners and losers.

The Teaminvest approach to reporting season is to focus on a narrow list. Rather than tracking thousands of companies, they focus on 30 to 50 businesses they understand deeply. They chose price over panic by using volatility to their advantage. By calculating a required rate of return in advance, Teaminvest sets target prices. If a stock's price drops because of market overreaction, they buy more. And they prioritise how a business will perform over the next five years, rather than the next five days.

And another Teaminvest strategy is the importance of not deploying your capital too early. Because many opportunities appear through the reporting window, there is value in spreading out purchases to capitalise on late season bargains.

Companies discussed include JB HIFI (ASX: JBH), Wesfarmers (ASX:WES), Coles (ASX: COL), Woolworths (ASX: WOW), Monadelphous (ASX: MND), Codan (ASX: CDN), and Data#3 (ASX: DTL).

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Diversification is one of investing's most repeated mantras, but are you doing it right? In this episode of Wealthy & Wise, we sit down with Andrew Coleman from Teaminvest, David Sokulsky from Carrara Capital, and Rob Gilmore from Wealth Simplicity to cut through the theory and get practical on one of investing's most misunderstood concepts.

From Markowitz's 1950s mean-variance framework to real-world portfolio construction, the panel unpacks the difference between market risk and company-specific risk, why correlation matters more than the number of stocks you hold, and whether 20 well-chosen companies can outperform a bloated 50-stock portfolio.

They also tackle the questions investors actually wrestle with: Can you be fully diversified within Australian equities alone? When does diversification start destroying returns? And how does your personal circle of competence determine how concentrated your portfolio should be?

Plus, a viewer question on the eternal dilemma... when exactly do you pull the trigger on buying or selling a stock?

Whether you're a seasoned value investor or building your first portfolio, this episode will challenge how you think about risk.

*Partner content

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Volatility is one of the most misunderstood concepts in investing. It’s often treated as synonymous with risk... but is that really true?

In Episode 3 of Wealthy & Wise, we unpack what volatility actually measures, why markets react so sharply to deviations from expectations, and whether price swings always signal danger. From an academic lens, we explore how volatility is calculated, why finance theory treats upside and downside surprises the same way, and how incentives — from executive pay structures to fund manager performance pressure and passive flows — can amplify market swings.

But theory is only half the story.

In our Head-to-Head segment, the debate turns practical. Andrew Coleman of Teaminvest argues that not all volatility is created equal: volatility of earnings destroys value, while volatility of price can create opportunity. Through real stock examples — including Coles (ASX: COL), Bapcor (ASX: BAP), Data#3 (ASX:DTL) and TechnologyOne (ASX: TNE) — we examine when stable earnings paired with volatile prices can offer disciplined investors an edge, and when seemingly “safe” stocks may hide fundamental risk.

The episode challenges a simple but powerful assumption: should investors fear volatility — or learn to interpret it better?

If markets feel unpredictable right now, this conversation will help you distinguish between noise and genuine risk — and think differently about what volatility means for your portfolio.

*Partner content

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Interest rates shape every investment decision, yet their impact on companies is often misunderstood. In this episode of Wealthy + Wise, ausbiz's Nadine Blayney is joined by William Buck chief economist Besa Deda and Teaminvest’s Andrew Coleman to unpack what a rising-rate environment really means for investors.

The program begins with the macro picture. Besa explains the outlook for interest rates, how higher borrowing costs are flowing through to consumer and business confidence, and what the Reserve Bank is ultimately trying to achieve by tightening policy. Is the goal to cool demand, reset inflation expectations, or something more structural? And how should long-term investors read those signals? From there, the conversation turns to valuation. Andrew Coleman walks through the very different ways rising rates affect growth investors versus value investors. Using clear, real-world examples, he shows how higher discount rates can materially change the price a growth investor is willing to pay, even when nothing about the underlying business has shifted.

The Head to Head segment brings two distinct investment philosophies into sharp focus. Fund manager Michael Carmody from Centennial Asset Management outlines a flexible, risk-first approach, he says while most of the fund’s alpha has come from small caps, he argues protecting capital through the cycle matters more than chasing every rally.

With rates expected to keep rising, Michael is blunt about where he doesn’t want to be: interest-rate sensitive sectors such as banks, non-bank lenders and property trusts, where higher funding costs and softer demand squeeze earnings. Retail, too, deserves caution as consumers pull back.

Andrew Coleman counters with a more concentrated, long-term lens. If a portfolio is built around 20–30 companies chosen to be beneficiaries across cycles, a change in rates shouldn’t alter the investment case. The key is balance sheets and moats as heavily indebted businesses are vulnerable, but resilient franchises can keep compounding regardless of macro noise.

The debate highlights the tension between earnings risk and sentiment risk and how different styles navigate the same storm.

*Partner content

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Wealthy + Wise is a new program designed for investors who want to think more clearly about markets, not react more quickly to them. Built around Teaminvest’s disciplined approach to value investing, the series steps away from hot tips and daily noise to focus on something far more useful: how to understand businesses and make rational, long-term decisions.

Each episode breaks down what “value” really means. We explore the difference between price and value, investing and trading, and why the best opportunities are rarely obvious on the surface. Rather than relying on jargon, the conversation follows a practical framework — looking at companies through three lenses: the deep-value “cigar butt” approach, a pure growth perspective, and the Teaminvest/Warren Buffett style that balances sustainable growth, sensible debt levels and a reasonable price.

The show brings those ideas to life using real, well-known companies. In our first episode, we put Coles (ASX: COL), CSL (ASX: CSL) and Life360 (ASX: 360) under the microscope, comparing how each looks on the balance sheet, how fast they’re growing and whether that growth is stable enough to justify today’s valuation. We also tackle viewer questions, including how value investors should read reporting season when headlines and short-term reactions can drown out the fundamentals.

Wealthy + Wise is about learning to think like an owner, not a trader — developing a repeatable process that can be applied in any market. Thoughtful, practical and a little bit fun, the series aims to give everyday investors the tools to build wealth with patience, structure and confidence.

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Ever wondered what really happens at an Annual General Meeting (AGM) and why it matters for your investments?

In this episode, Steve Mabb, Chair of the Australian Shareholders Association and Teaminvest member, unpacks how AGMs are more than a formality — they’re a window into management quality, governance, and alignment with shareholders. He explains how value investors can use AGMs to ask better questions, read between the lines, and identify early warning signs that don’t always show up in financial statements.

Hear real stories of shareholder wins and disasters, learn how to spot red flags, and discover why in-person engagement is still king. This discussion shows why active shareholder engagement matters — and how AGMs can help investors protect capital and make more informed long-term decisions.

What you’ll learn:

• Why AGMs matter for long-term investors
• How to assess boards and management beyond the numbers
• The most effective questions to ask at AGMs
• How governance red flags reveal themselves in real time
• What the two-strike rule tells investors about accountability
• Why in-person engagement still provides an edge

Key topics covered:

Value investing • Disciplined investing • Long-term investing • Corporate governance • Shareholder rights • Management assessment • Risk awareness • AGMs

Timestamps:

00:00 – Introduction & Steve’s background
03:00 – AGMs explained: what, when, and how
10:00 – Why management matters: Buffett’s yardsticks
18:00 – How to ask questions and what to look for
22:00 – Real-life AGM stories: good, bad, and ugly
36:00 – Action steps for retail investors
45:00 – Wrap-up & key lessons

🎧 Available on YouTube, Apple Podcasts and Spotify.

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Index funds, ETFs, superannuation flows, and AI-driven trading are now dominating global markets — but at what cost?

In this episode, CEO Andrew Coleman unpacks how passive investing, algorithmic trading, and regulatory incentives are reshaping market behaviour. As capital increasingly flows into indexes regardless of valuation, markets are becoming more volatile, more concentrated, and more prone to bubbles — creating risks for uninformed investors and opportunities for disciplined, active ones.

This discussion explores why value investing principles matter more than ever in an environment where prices are often set by flows, not fundamentals.

What you’ll learn:

• How index funds, ETFs, and superannuation flows impact price discovery
• The role of AI-driven and algorithmic trading in increasing volatility
• Why passive investing can amplify market bubbles and distort valuations
• How active, value investors can manage risk and find opportunity
• Why fundamentals eventually reassert themselves — even in distorted markets

Key topics covered:

Passive vs active investing • Value investing • Index funds & ETFs • Superannuation regulation • AI-driven trading • Market volatility • Price discovery • Market bubbles

Timestamps:

00:00 – Introduction: Passive investing and AI
07:00 – How index funds and regulation shape the Australian market
18:00 – The Grossman-Stiglitz paradox explained
25:00 – Bubbles, crashes, and price distortion
35:00 – How active investors can win
42:00 – Q&A: Speed vs. accuracy, advice for SMSF investors

🎧 Available on YouTube, Apple Podcasts and Spotify.

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In Episode 3 of our Emerging Wealth Winners Series, Kylie Merritt interviews Rahul Guha, CEO of Fiducian, to explore the company’s unique integrated model, scalable growth, and focus on quality advice.

Plus, Andrew Coleman and Kylie discuss Kina Bank’s remarkable results in PNG, sharing highlights from CEO Ivan Vidovich’s presentation on driving double-digit returns, low leverage, and digital innovation in a challenging market.

This episode is part of the TIP Group partnership with Ausbiz and the Emerging Wealth Winners Conference.

What you'll learn in this episode:

• Fiducian’s “triple play” model: advice, funds management, and platform
• The importance of service and scalability in platform businesses
• Kina Bank’s growth in PNG and lessons for Australian banks
• Digital transformation, market opportunities, and risk management

Timestamps:

00:00 – Series intro & Fiducian interview
18:00 – Kina Bank segment introduction & commentary
33:00 – Key takeaways and wrap-up

🎧 Available on YouTube, Apple Podcasts and Spotify.

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In Episode 2 of our Emerging Wealth Winners Series, Kylie Merritt from Ausbiz interviews Michael Eadie (CFO, Credit Corp) and AWAG directors Lee IaFrate and Mark Stephen. Learn how Credit Corp’s US expansion is fueling growth and how AWAG is driving major industry consolidation through activist investing.

This episode is part of the TIP Group partnership with Ausbiz, presented at the Emerging Wealth Winners Conference in October.

Key Topics:

• Credit Corp’s US business and market dynamics
• Managing risk and capital allocation in debt purchasing
• AWAG’s activist investment strategy and industry rationalisation
• The future of financial advice in Australia
• Intergenerational wealth transfer and advisor shortages
• Industry consolidation and growth opportunities

Timestamps:

00:00 – Series intro & Credit Corp interview
15:00 – AWAG interview introduction
16:00 – AWAG’s activist approach and market outlook
35:00 – Key takeaways and episode wrap-up

🎧 Available on YouTube, Apple Podcasts and Spotify.

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