4 investors, $100,000: 3 months in, who’s ahead? | Portfolio Challenge

Everything you're about to hear is for education and entertainment purposes only. Whilst we are licensed we're not aware of your personal financial circumstances. Any advice is general advice. EquityMates operates under Australian Financial Services License 540-697. We've each invested $25,000 to see who can come out on top by the end of the year and today we're going to have a look at how we are going. EquityMates! Welcome to EquityMates a show where it's for what's possible in the world of investing. If you've just joined us for the very first time and massive welcome to our community, my name is Bryson. As always I'm joined by my Equity buddy Ren. How are you going? I'm very good Bryson. Very excited for this episode. As you said, the start of the year we were set the challenge. Invest $25,000 across a core and satellite portfolio and see who wins. And it's not just you and I competing head to head. We have four contestants in this game. Unfortunately one of them is out sick today. Yes. So we will win. I don't know if it's by a strategic move or not. Oh yeah, you reckon. A shame of performance. Yes. We actually don't know who's losing. No, we don't. Maybe Shane knows and that's why she's not here. Yes. So Ali Selby, we hope you get better soon. We will be talking about your portfolio today. You've given us the instructions but Cam Glacin, you haven't called in sick. We appreciate that. Thanks for joining us again. I guess it's good to be here. We'll see how we get here. We will see. Now Cam, you are a senior investment strategist here at Betashears. We'll talk about the portfolios but I think we will also talk about what's happened in markets over the past three months or just short of five, three months. But before then, Bryshear, we just reintroduced the concept for people who are new. Absolutely. So it's in partnership with Betashears Direct. We've each had $25,000 to build a custom portfolio. So DHHF was our core. 13,000 of their about went into DHHF and we're not allowed to touch it. Outside of that, we then had to equal weight the remaining parts of the portfolio. Three ETFs, three stocks all listed on the ASX available through Betashears Direct and may the best man or woman win. Yes. Now, we weren't allowed to touch our positions from when we invested until now and we can only rebalance or reinvest in the same format every quarter. So that's what we're going to do this episode. Yes. So we'll always have three ETFs and three stocks. Yeah. All right. Well, before we get into our portfolios and what's been happening in the markets, let's say a massive thanks to Betashears for sponsoring this episode and helping us keep all of our content free. With more than one million investors and over 75 billion in assets under management, Betashears offers Australia's largest range of ETFs and innovative investing solutions through their platform Betashears Direct. Visit Betashears.com.au to learn more about the Betashears funds and about Betashears Direct. Read the PDS and TMD and consider whether the product is right for you. Betashears Capital Limited is the issuer and Equalimates Proprietory Limited is owned by Betashears Group. All right, Cam. So, before we jump into the current positions of all the current returns of our portfolios, a lot has been happening since we've made our first investments. It's been a busy year. So why don't you give us a bit of an update on just what exactly has transpired over the last couple of months? Yeah. So we kicked off our investing in February, which was somewhat not fortuitous, but yeah, either way, we just sort of play the cards we dealt to that sort of stage. To the end of February, we'd seen that the ASX had rallied around about 12%. So it was a strong start to the year. It's a huge, slightly for all that. Right. So strong start to the year for global equities, strong start for Australian equities. US equities were in a bit of a bind or a bit of a muddle, but elsewhere, we saw some really strong performance out of Asia and other jurisdictions. That was sort of quite a, quite a, you know, it looked like we're going to have a really good year for equities. And we should, you're not going to take your own horn. So why don't we do it for you? Cam was going around doing the round saying XUS is going to outperform. This is going to be the year where, well, the same as last year, whether US will underperform the rest of the world. So you would have been feeling on top of the world. It was going really well. Emerging markets were great. We did in those events. We did flag the risk of a crisis in the Middle East. Regretably didn't suggest that everyone should go long or a time, but we certainly flag that as a risk. And the potential for commodities to do quite well this year. And then obviously we had this escalating conflict. And, you know, if we look at the return, some of the best performing parts of markets have actually been some of the now the worst performing parts of markets. You know, almost ironically, you know, emerging markets in Europe quite heavily dependent on oil imports. People have discussed this idea of an off-ramp or the ability for Donald Trump to de-escalate and to end the conflict. We've seen him make very serious moves in that direction. He's due to talk to the American public in about sort of two hours time. And we expect that he's going to essentially suggest what he's done in social media, which is I'm going to take my toys and go home. I'm going to leave the straight of him as someone else's problem. So you know, that doesn't necessarily mean a resolution to the conflict. It really now is in Iran's hands as to how this plays out from here. If we look at market performance, you know, the ASX, I mentioned it was up to 12%. It's, you know, it fell around about sort of 11% to the start of this week, rebounded a little bit in the last couple of days. There is obviously hopes that this results in somewhat of a model through this situation. Perhaps we see elevated oil prices. That's what we expect in a long term. Elevated oil prices, but not some of the more extreme scenarios. I feel like him leaving, if he does leave, but say we're just going to leave the straight of him as is, I feel like that's not the result that the market wants. Yeah. Look, I mean, I think the market likes certainty, even if there is some, you know, some bad news in there. Yeah, I guess if you look at Iran's five point plan, one of them is they want sovereignty over the straight. They've already enacted, you know, laws and air parliament where they can exact the toll booth on the straight. And if you were an Asian country that a lot of the oil actually goes about 89% of the oil in LNG goes to Asia. The amount of oil sitting on one of these ultra-large crude carriages is around about half a billion dollars worth of oil. You'll probably pay Iran $3 million to get through that straight, right? So while it will see, you know, most likely higher oil prices, structurally higher oil prices, if that is the resolution, it is at least more certainty. And I think some of the volatility was in the spot price that hasn't necessarily been reflected in long term, crude futures pricing, but long term crude futures pricing is showing elevated levels of oil price. And that might just be the new norm for, you know, the world we live in for some period of time. War in Iran and the consequences of that has certainly been top of mind for this investing period, the first quarter, I guess we could say. Is there anything else that we should flag that's been relevant for investors in the first few months of the year? Within that sort of concept of Iran, the real focus has been, you know, what a central bank's doing as a result. And, you know, there was expectations that we're going to see a real push to tightening. So for example, you know, in Europe, the ECB at the start of the year was expected to have no cash rate hikes just a couple of days ago, the expectations were there were in fact, I have to recatch rate hikes. And some of these expectations have now been paired back in the last couple of days, but the pressure that puts on equity prices, you know, is notable. So this is what the market's been grappling with. And in this sort of scenario where you have both, you know, the risk of inflation and growth, it's not necessarily great for fixed rate bonds or equities. So that's sort of, you know, the world we're living in and really it has been the focus of markets. And so I guess that then turns to our competition. And we should caveat this by saying like the best way to invest in a time like this is to think long term, not to try and make money quarter by quarter and win a yearly competition because we've seen that, you know, every previous dip in history was a buying opportunity that the market is resilient, that it climbs a wall of worry. You know, we've all been saying this on this show and Cam, I'm sure you've been saying it in the media again. So I think it's an important caveat just to start with that like the best thing you can do is think long term and not try and win short term games. With that said, let's try and win a short term game. So who wants to kick it off? I guess we'll start with how you portfolio is gone. And then if you want to make any changes to it, let's do it. I'll kick off. Yeah. For sure. Start with the best. So, well, I'm not sure we're about to find out. So current portfolio value is 23,587. So I'm down just under 5.5%, 5.44%. If we compare that to my core, DHF or everyone's core, it is down 3%. So unfortunately, I've done a little worse than my core. But that's natural. That's what you would expect when you have a risk on satellite. Just performers for me, I had one of my individual stocks was up, BHP, up 3.07%. And one of my ETFs was also up, HJPN, the hedge Japan fund, which Cam, you spoke about, last time we were on, it's up 1.66%. That's the good news. Very good. Yeah. Lucky that one was currency hedged in the end. It's true. Yes. Now for the not so good news, you may recall that I tried to play the earning season here in Australia with GDG, which is the generation development group. Now it had a mediocre reporting period and as such got punished, it's down 11.5%. Similarly I had Goodman group. I was trying to play the data center. Thematic. Not a good reporting season for Goodman, profit fell 8%. So didn't time that to play. Haven't had a great year coming. Great, great year. So what's the stock? Lesson learned. It's down 15%. Oh, cool. But look at my thematics, my thematic ETF. So I was in URNM, uranium. Yep. It's down 12.65%. I can see pathos with that. - I think that was in the Uranium Cam. And then I was in copper as well. I really went for like the metals play here. Why I was the ETF down 14%. So where does that leave me? - So can we just reflect on, Bryce had the confidence to say the best will go first when four of your six positions are down double digits. - I'm hoping. - Look, I'm waiting to hear where you guys are. - You must think very little of us. - Well, that's right. - It does have some winners. - Oh yeah, I'm going to go ahead. Nice, good to know. I'm going to play the Relief Rally for the next three months. - Oh, you reckon the Warner runs over? - I'm going to lean into what Cam was saying and hope that-- - Oh, Cam told us the Warner runs over. Is that what you can say? - I can't. I'm not sure that's what I said. - Keep going, it's Cam's fault. - I'm going to build on what Cam was saying. And to be fair, this was done prior to your comments, Cam. So thank you for confirming my thesis. (laughing) - What is it? - Trump is not going to hang around in Iran for the next three months. Is what I'm kind of sensing. He's just not going to do it. - Yeah, he's looking to get it. - And the market is thirsty for some good news. So I'm going to play the Relief Rally and position accordingly. So what I'm going to do is I'm keeping HJPN, I'm keeping Japan, I'm keeping wire, copper, and I'm keeping BHP. I'm going to sell uranium. Get your thoughts on that in a moment, Cam. I'm going to sell Goodman Group and I'm going to sell GDG. What I'm going to add is NDQ. I'm going US tech on. - Oh, I like it. - So that will close out my three thematics. I have HJPN, wire, and NDQ, NASDAQ. Then for my individual stocks, I'll have BHP, Prometicus, I'm going, which is actually just a stock that I have in my own portfolio that is down, hoping for a bit of a return. And then I'm going to put in McQuarry. Just something that I'm hoping, regardless of what happens, if interest rate environment goes up here in Australia, they should do a right. But it's just not going to be one that is going to be too volatile. - Yeah, they do have their earnings coming out, you know, a little while, but we'll see. Maybe we'll have a good stock. - They'll have gone well playing the earnings res-- (laughing) So McQuarry is going to sit in there. So to close out three stocks, Prometicus, BHP, McQuarry, three ETFs, NDQ, HJPN, and wire, really hoping that we get a bit of a relief there, mainly through NDQ. - Yeah. So after this, you will update all of that on Betashe's Direct. You can buy not just Betashe's ETFs, but any ASX listed ETF and a large number of ASX listed stocks. So you'll update that, we'll share it on our social media. So you can see Bryce's portfolio. - Yes, I guess the caveat here is that it could all go pear-shaped if there isn't a relief rally. And he sends seven to 10,000 troops in to try and take the straight-of-hammers, but we'll see what happens. - 90. - And he sorts. - Look, I really like the NDQ call. I was sort of thinking along those lines. If you look at NDQ or NASDAQ versus the SB500, it's trading about a 9% premium to the SB500. It hasn't done that for eight or nine years. We're coming into US earnings season. This is going to impact me a bit differently in the way I'm thinking about my portfolio, but I do think that there is the potential in a relief rally for what has been sold off. It's performed poorly, but something that has continued to have strong earnings growth to really rebound, quite strongly. So I think that's really interesting. Yeah, maybe I'll talk about your anime a little bit later. - Yes, sounds good. - Well, Cam, you've, I guess given us a little bit of a tease of your portfolio. So why don't we get into how you're going? The price was down what, five and a half percent? Maybe give us the headline number and then talk to us about how some of your positions are going. - Okay, okay, I was hoping I could go a little bit later. The ASX is just open and I've just seen that portfolio start into two-kid. - Oh, no. - Needs a way for the full after-pent to get over. - Yeah, yeah, yeah. - Okay, so we'll sit here in silence. - overnight, overnight. So my portfolio is down to 23,319 dollars. It's up a little bit on that now, but that's down about six and a half percent. - Okay. - It's a little bit worse than you. - So far, I still am on top. - You are. (laughing) As we sort of said, the core has done relatively well in what's been quite a difficult market for equities. - Yeah. - You know, 3%. It's been the satellites and I think we all sort of acknowledges the will to win meant that we went probably a bit further out on the green spectrum than we're sensible. - Definitely. - I'm pretty comfortable with some of the holdings I have in the portfolio. I mentioned emerging markets. I still feel that over the long term that I feel quite bullish on emerging markets. So B, M, G in that part of the portfolio, look, it's down around about four or five percent. So that's okay. I'm also quite surprised, not surprised, but I'm, it reaffirms my belief in this fund, but GHHF, which is that moderately geared exposure to global equities has held up relatively well. So that one's down around about sort of four percent. - Okay. - So that's pretty good for a geared fund. And if I'm going to play a relief rally, I'm probably likely to do it with gearing. I think that's a good way to do that. And now things get a little bit more hairy. Uranium I played through to uranium stocks. In terms of the game, I had to make sure I had some ASX, ASX stocks, not just ETFs. So I didn't use UR&M, I used deep yellow, which is down around about 30%. So that's been a significant detractor. And also a palladon, which isn't down as substantially but it is off quite a bit. So my uranium play hasn't worked, but here's where I want to still hold uranium. And I think this is beyond a one year timeframe of this particular competition. But if you look at what happened in the, so for example, the 73 oil crisis at that time, a quarter of global electricity generation was basically produced by burning oil. We used to burn oil to generate power. At that point of crisis, countries around the world decided that didn't want to be as dependent on Middle East oil. And they started looking for alternative sources of energy. And nuclear went from 2% of global energy generation to hit around about 18% of global energy generation by the mid '80s. So one of the outcomes, the long term outcomes of this crisis I see is a need for countries to focus on energy security. And an example of a country that's already seeking to do that is South Korea, where they need to pivot off oil and in particular LNG to other forms of power. And I think uranium and critical minerals will be beneficiaries of that. So as a risk on trade, I'm actually quite bullish on uranium players. I think they're quite high beta anyway. They can be very volatile, as we've just seen. But long-term structural story for uranium, I think, remains intact. - Cam, you're too long-term in the game. - I was just gonna say, I was gonna say, we don't have 20 years. We've got to break all of our training, you know? - It's tough. It's tough. It's ingrained in. - And I guess is the reason that it's down 30% and my ETF down is purely just based on the spot price of uranium over the last months. - Yeah, it looks so spot price, but it's also a sector which does have very strong swings in sentiment, very strong swings in sentiment. And don't forget mine is also consume a lot of diesel often to actually extract. That's quite an energy intensive activity. And so if you're an investor and you're investing in perhaps, ASX listed sectors, if you are thinking about energy and materials as a sector, you're probably pivoting out of something like uranium and looking for things like coal and the oil and gas producers in Santa Austin wood side because they're producing cash flows right now, whereas a lot of these uranium miners are actually sort of quite early on in terms of their production cycles. So there will be some repositioning that's happened. And I think that if we see clear a path forward with all bit higher oil prices, it still remains a good long term case uranium. - Yeah, okay. - On your point on NDQ, look, I think that's a great idea. Within my portfolio, I have HAC. Software was sold off, I think, within the software realm, sub-security is one of those more defensible businesses. And so I'm remaining, I'm going to stick HAC on HAC. I did think about changing it for global defense companies. I think we'll talk a bit about that. But I've decided to leave my portfolio unchanged. So that's the portfolio as it stands. I've also got RIA group there. And that was probably another one I wasn't too sure about keeping. I like your idea of Prometheus. I was thinking Ysetech actually, switching for Ysetech. But I think I'm going to stick fat with RIA group. So I still think that's a great. - Nicely looking through the noise. - I'm trying to look through the noise. - There's a lot of noise. - Just backing you. I do have $5 a cash in my account, though. - Oh, no. - From a dead end? - Yeah. - $5 on the nose? - Well, $4.98. - Oh, let's see what I've been paid. $5.13 for me. - This is grim if we're talking in cents. - $25.90. - Oh, wow. - Wow. - Wow. - All right, well, that does count to your return. And we're not factoring in tax rates. So, you know, you get the full income back. But nice, Cam. So you have beaten Bryce in the first few months of the game. - No, no, no. - Oh, I'm just under. - Yeah, yeah. - Yeah, yeah. - It's about five. - I'm still on top. - Oh, all right. Well, that's probably a good place to take a break. On the other side, we're going to see how Ali's portfolio has gone. And then I'll share how I've gone as well. - We'd like to say thank you to Beatashay's for partnering with us in sponsoring today's episode. With more than one million investors and over $75 billion in assets under management, Beatashay's offers Australia's largest range of ETFs and innovative investment solutions through their platform, Beatashay's Direct. - Visit Beatashay's.com.au to learn more about the Beatashay's funds and about Beatashay's Direct. Ray the PADES. and TMD and consider whether the product is right for you. Betashe's capital limited is the issuer, and equity mates media PTY LTD is owned by Betashe's Group. Well, as we said, unfortunately Ali is off six today, but she has sent in her portfolio update and any changes she's wanting to make. So let's crack into it, guys. Ali's current portfolio, $22,828, she's down 8.68%. - Oh. - Yes. - Tough. - So her positions, DHHF, as we've said, down 3%. She was in armor, the defense ATF. It's down 5.6%, which she found surprising, given that we're in the midst of war. - Yeah, let's put a pin in that, because I want to ask Cam about that. Like if a war in Iran isn't good for a defense. - Let's address it now. - Okay, let's address it now. - Okay. - Yeah, so I mean, like global defense contracts has actually held up quite well at the start, but then we started to see a bit of a risk off sentiment and you know, a pivot from concern about inflation to more of a growth fear. And a lot of these companies have done quite well. I think the other point though is that six of March, Trump got up and said he's told all large contractors that they need to produce more interceptors and basically high caliber munitions. He didn't put any orders in though, and none of the contractors can get any sort of comfort from anything that Donald Trump says, unfortunately. So there's probably been a little bit of a disappointment in the fact that we haven't yet seen firm orders come through. But when we were talking about this off air, but there are reports that roughly, you know, 26 billion dollars worth of missiles and interceptors were sort of shot in the first 15 or 16 days. That's going to need restarting at some point. So I do think there's some catch up that can be had with the Inammer. I think you would think that just before a crisis that investing in global defense companies was the right play, I'd stick with it. - Yeah. - Yeah. - Okay, well, we'll see if she wants to stick with it. She also had the Lowell Resources Fund. It is down 24%. That's tough. She had the Plato Global Alpha Fund, PGA1. It's down 3.2%. Then her individual stock. So she had Artria, Ticka-A-Y-A. It's a healthcare tech company. It's down 6.7%. Iperian X, a titanium metal and critical materials company. Down 44.9%. - Ooh. - And she has a few reasons as to why that happened. And then next D.C. Down 8.5%. So ETFs and funds have held up reasonably well but some of the individual stocks. - Yeah, less double digit losses than you but just two brutal drops. - Two brutal, yeah. - I feel like that's the name of the game in this competition. Avoid blowing yourself up. - Big time. - Yeah. That's the name of the game in investing. - Yeah, fair, fair, fair. I'm thinking maybe I just move everything into AAA. Just an interest on cash when you guys fight it out. - That would have been the smart playing game theory. Is there actually a prize for this? I mean, is that why we're. - Yeah, we're getting to keep all the money. - Oh, yeah, yeah. That's why we're competing so hard. - Yeah, that's a much riski. - No, it's just pride. It's just. - Yeah. - Absolutely. - Yeah. And that's a strong motivator. - Yes. Now to look at some of the changes she wants to make. So she's going to keep next D.C. She's going to keep DHHF obviously because that's part of the court and she's going to be keeping Plato as well as Artria. So she feels like there is also going to be a risk on for the next three months. So that's what she's going to play. She's going to sell her Laal Resources Fund and replace that with NDQ as well. - Oh, wow. - So we're both in tech there. She's moving away from armor. She is going to sell armor and buy Asia. The Betishez Asia Tech Giants. - Yeah, Tech Giants. - Yeah, Tech Tigers for the same reasons that she likes NDQ. She feels like if it's a risk on. - She's going to fire a minute. - She's going to go up to her. - Yep, yep. So that'll close out her fund component NDQ Plato and Asia. And then she's going to be selling Iperian X. She read their latest market announcement and felt there are a few alarm bells there doing the research, which is good to see. - Given the stocks down 45%, I think. - Yeah, yeah, yeah. - A few investors thought the same. - So she's going to get rid of that and replace it with WebJet because she feels if the war ends, there could be a recovery I imagine in travel. - Wow. - So that kind of makes sense. And so again, all in on the recovery. - Yeah. - Yeah. - Quite sort of tech heavy, but that's good. I mean, that's the. - Tech heavy. - If you want to, obviously, create the chance of outperforming three others, then you probably need to take a bit of risk and increase the volatility. Then you'll portfolio, but it was here we go. - Absolutely. So that's Ali, down 8.6% Ren, where that leaves you. - All right, close it out. Well, they say save the best to last. And we are only a quarter of the way through this competition. But I am ahead. I am only down 2%. - 2. - Yeah. - I think that's changed since the. We hope, since. If you're watching on YouTube or if you are watching on the new feature on Apple Podcast, where you can watch video on Apple Podcast, you'll see the screenshots of my portfolio down 2%. - I think Ren's been fortunate that he's at the time of recording markets opened after the three of us went. - Right. - I'm sure. - I'm pretty sure before recording you were down 4. - I was down 3. - Okay. - Yeah, yeah, yeah. Look, either way I was on top, I was the only one in the 24's still. But yeah, it did tick up nicely when I got the screenshots. So I'll take it. So, three ETFs that were in my portfolio were Asia, the top 50 Asian tech stocks. That's down 3%. Dragon, DRGN, it's a Chinese tech ETF. That was down 3% as well. And then IIMD, the India quality ETF down 14%. And that's been really interesting actually because China has actually been very resilient. People think of China as a massive energy importer, but they've been somewhat of a safe haven in China's equity through this period. - Yeah, it's interesting. - India suffered a little bit though. - Yeah. - Yeah. So that's the ETF side of it. On the stock side, I went all in on the resources theme, as if we remember the start of the year, everything was ripping. Like nothing could go wrong. Gold over 5,000, everything else. Copper all time highs. Well, copper has fallen off and so has my copper play. Sandfire resources down 14%. And then I went Pilbara Minerals, Lithium. That's up 20%. So that's pretty happy with that. And then Minres mining services, but obviously got their Lithium plays as well, up 4%. So, as I look at this portfolio and I think what am I gonna do? First of all, I'm going to take India out of rotation and somewhat controversially given that the consensus at this table at least seems to think that maybe the worst of the war is behind us, I'm gonna add fuel. F-U-E-L is the ticker. It's not the oil price ETF. It's like the oil produces ETF. It's like all the big BP, Chevron, Exxon and the like. The thesis being even if we stop fighting today, the unwind the restart of global supply chains will probably take longer than expected. The price will probably remain elevated and these guys will probably print cash for a little while. For us. - All right, look, yeah, I think that's great. And you sort of align yourself with commodities, which you've already done there. Yeah, no, I think you're sitting pretty at this stage. - It's also kind of a hedge to some of the other more risk on parts of the portfolio. Yeah, if the conflict does continue and everything falls, it'll hopefully not fall as much or even rise. So that's one. And then look, I was gonna go US Tech as well. So I was gonna swap out Dragon for either an NDQ or Fang+, which people might be familiar with. The reason being, and if you're watching again, on Apple Podcasts or on YouTube, we'll include the chart. The S&P technology index versus the overall S&P 500 is at its lowest level since 2019, similar to what you were saying earlier, Cam, which just doesn't feel like it's sustainable. Like these are faster growing, higher quality businesses, the rest of the S&P 500. But given you guys are all in, or particularly Ali and Bryce are all in on US Tech, I thought I would be diversified, be different. So I'm not gonna change that. I'm gonna keep that as Dragon. - Nice. - So that's a long, long-winded wave sound I'm actually not doing anything there. (laughing) Stocks. So I'm gonna sell Sandfire down 14%, and I'm gonna sell Minres, and I'm going all in on Australian momentum. I'm gonna add 4D medical, and I'm gonna add TX. - Okay. - This is a good idea to TX. - So they're both more than 30% in the first three months of the year. - Yep. - And I'm just gonna say, for the next three months, long made that momentum continue. (laughing) - 4D. - Yeah, a lot of hype. - Yeah, yeah, a lot of hype. A lot of hype. I am nervous that at some point, we know that hype cycles turn, and they turn quickly, but hopefully that doesn't have in the next three months. - Right. - So you think you might be holding it for three months, and then you get that? - I think that we're going for. - Yeah, yeah, yeah, very good. - Yeah, sure to imply. - If you'd like to have a look at the current portfolios, we'll put them on Instagram, when the S-Well, there should be up now. Otherwise, jump on YouTube if you're listening on the podcast, and you'll be able to see some of our portfolios in action. - Or watch on Apple Podcasts. - Or watch an Apple Podcasts. - Because we've now put a video on Apple Podcasts. - Well, there we go. Portfolios are set. We'll re-allocate the weightings in our custom portfolios on Betishez Direct. We can't touch it from now for another three months, who knows what's gonna happen. Anything could happen. - Yeah, yeah, yeah. - Hopefully one of us is in the green at the six month. - Yeah, well, we're watching this live now, and Cam, you're probably in a single position, but we're all going up, which is good news. - It's nice. - A percentage better off now. - Wow. - I'm only 1.8% down there. - Yeah, so maybe I'm-- - If you can talk to someone, anything. So, cams left his portfolio. As is, we've changed all of ours the remaining three of us in some way shape or form, so we'll find out how it has performed in three months time. Can, thank you for joining us. We'll leave it there. Thank you. You've been listening to an Equity Mades Media production. This podcast is intended for education and entertainment purposes. Any advice is general advice only and has not taken into account your personal financial circumstances, needs or objectives. Before acting on general advice you should consider if it is relevant to your needs and read the relevant product disclosure statement. If you're unsure, please speak to a financial professional. The host of this podcast and their guests may have positions in the companies mentioned. Equity Mades Media operates under Australian Financial Services License 540-697.