Our Monthly Portfolio Update - March 2026

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. Every month we sit down to review our portfolio, how it's performed, what we've been buying and selling, and anything that has caught our interest over the month. EquityMates! Welcome to EquityMates, a show where we explore what's possible in the world of investing. If you've just joined us for the first time, a massive welcome to our community. My name is Bryce and as always I'm joined by my equity buddy, Ren, how are you going? I'm very good Bryce, very excited for this episode. I always say I'm excited and I am. Good. But God it's been a tough month. It has been very much so. As you said, this is the episode. We're doing it once a month, the first episode between the two of us every month. We unveil what's going on in our portfolios. I mean, the high level conclusion is March was tar. Yeah, March was very tar. Yeah, we're going to be a rough episode. Oh, yeah, but look, this is the game. It is. It's like, we know that the war in Iran is raging, we know that oil prices are up, we know that gas prices are up and that the economy is down. March was the worst month for the S&P 500 in the past four years. Really? Since our last energy crisis around the Russia-Ukraine war, yeah, this is off the top of my head, but worse month since December 2022. If we go back to then, we have had Russia and Ukraine fighting and we had interest rates spiking. Fast forward to now and we've got a war in a key energy producing part of the world. And we've got inflation higher and interest rates spiking. Well, at least in Australia. We still haven't hit correction territory. That's the crazy thing. The Nazdaq has. Yeah, but S&P, ASX. Yeah, yeah, yeah. It's holding on. But like I think the headline, and we'll talk about this, is for me at least, you look back in history, there's never been a dip that hasn't been worth buying. And it's easy to look at a chart and see those dips and say, God, I wish I bought them. God, I wish I bought in 2008 in the global financial crisis. God, I wish I bought in a COVID dip. But when you're in those dips, it's not obvious. When you're in those dips, it's scary. We're in one of those dips now and it is scary. But I think just maintaining that long-term perspective is the most important thing. Yeah. And maybe that's just a giant caveat because we're about to talk about how down our portfolio. Now, before we jump in, I've actually got a stat for you as well that I saw on the way to work this morning. Okay. 500,000. What are you reckon it relates to? Well, I mean, anything, the amount of games S&P will play before the world. Half of the amount that S&N will have to pay out, Bloodscot when they fire in this year. Jason, would you be lucky to get that? No, no, no. That's the number. If they fire in this year, a million bucks, yeah. Oh, yeah, a million. Yeah, yeah, yeah. He'll be gone by the end of the year. Yeah. No, I have no idea. 500,000. Well, you know how you love talking and keeping everyone updated on how many robot taxi rides there are coming to you. Oh, the way, Moe. Yeah, yeah, yeah. So, Waymoe hit 500,000 rides a week. Yes. I did actually know. I'm plugging away. So, the reason I knew that is because I ran the run to cure half marathon a week and I lined up a bunch of podcasts to listen to and one of them was an interview with the Waymo CEO. Oh, yeah, yeah, yeah. And I was like, oh, this will be interesting. You know, robot taxi is I'm interested in it. Two questions in. It was so technical. I was like, I can't do this. But they're killing it. Yeah. Yeah, yeah, yeah. Smashing at 10 cities, 500,000 rides a week, it's that small part of the alphabet business that is growing pretty quickly. Yeah, I mean, not small at all. It does external capital raising and its valuations are meaningful. Yeah. Yeah. All right. Well, you've that said, let's jump into our performance. There's someone who hates talking about robot taxis. I just saw it and I'm like, God, I bring it up. Okay. It's been a while since we touched on it. Do you find them interesting yet? I've always found them interesting. I've found updating every time they hit a new 50,000 milestone. Okay. Well, that's the first one. Half a million milestone is impressive. As I said, I will find it really interesting when they get outside of America. Like, let's go global. Bring it here. Let us in one. But I just think like if you were Waymo, there would be no incentive to go global until you. Yeah, I'm not going to be a long time. Yeah. Yeah. I'm a long-term investor. We might get Chinese self-driving cars in Australia before America. Probably. Anyway, I'm not invested in any. I'm in alphabet, so that's why I love to say it. All right, Bryce, well, great to say that you're coming around to my view of the world and that self-driving cars and robotaxies is one of the most consequential technology stories of our lives. Well, look, that's what we're talking about today. We're talking about our individual portfolios. We do this once a month and we do it with thanks to an impartorship with share site, the platform where we track all of our portfolios. If you want to sign up to share site, you can go to sharecite.com/equitymates or hit the link in bio and get four months free on any paid share site plan. And if you're watching on YouTube, you'll see screenshots throughout this episode of how we use share site to track our portfolios. I think the important thing is it's easy to know your good stock picks. You never forget the stock picks that you got right. It's a lot harder to know how your overall portfolio is going. Yeah. And importantly, did you actually do better than the index? Yes. Did you do better than the cheap and easy alternative? That's a feature you can actually set a benchmark. You can. Yeah. So I think share site is great. It keeps you honest. It definitely keeps us honest. Yes. And we appreciate their partnership in not only keeping us honest, but keeping all of our content here free. Nice. All right, Ren, well, let's get into it. How about you start with what you've been up to this month? Always the starting point. It's repetitive and boring, but so is good investing. I've been dollar cost averaging into my core portfolio. My wife and I have three ETFs in our core portfolio. 70% of the money is in GHHF. 15% is in BEMG. And 15% is in XUS. Now, if you're not familiar with those ticacodes, what they are, 70% of our money goes into an ETF that covers the majority of the world, but is a little bit overweight, America and Australia. And it's also got some moderate leverage. It's geared a little bit. And then 15% goes into emerging markets. And 15% goes into developed markets outside of the US just to top them up to get a bit more balance around the world. Every week, we're dollar cost average. Fourth of March, 11th of March, 18th of March, 25th of March, we dollar cost averaged. Whatever the market was doing, we put the same amount of money in. And that's where the majority of our money is invested. It's not complicated. It's simple. And we keep doing it. It's effective. The other big update from the month is, this episode last month, I spoke about how my wife and I were starting out debt recycling journey. We had built up some equity in the apartment that we live in. And we have drawn that equity out. And we were going to invest it. The update this month is, we have invested it, or at least invested some of it. And then some of the money is still sitting in the offset account. So, I'll use my deep dive to talk about the five funds that we've invested in. But that's probably the other big update. Do you want me to talk about my performance now? Or do you want to say what you've been up to? Yeah, I can do high level update. So, similar to you, you've got to start with the boring. It's rule number three of our four-step checklist. If you are, or the four-step strategy, which is by a bit of everything and then repeat it. Rule number three, rule number four. If you haven't read our "Don't Stress" just in best book, go and read it. Yeah. So, that's what we've been doing. Similar to you, Ren. DCA. We're not doing it weekly. We've been doing it monthly. We've put money into four ETFs. G200, which is geared ASX200, moderate leverage. IVV, which is the S&P 500 VAE, which is Vanguard's Asia, X, Japan, and VEQ, which is the FTSE Europe. Equal weight, 25% in each. We do that consistently every month. We were opportunistic. You speak about taking moments to buy throughout the month when we are in these what feel like scary times. So, we did put a lump sum in halfway through the month. In that same ratio, like 25% in each of those four ETFs? Yeah. Yeah. Yeah. Haven't got to rebalancing yet, because overall, they're actually reasonably well balanced. They might be at one or two percent. I'll only start rebalancing if G200 starts to really fly or whatever. We invest in different things that get to the same point, which is just like a pretty even spread of our money around major world indexes. Yeah. Yeah. Yeah. For those that were tuning in a couple of weeks ago, I spoke about building out my healthcare portion of the portfolio. So, I did that. We'll put a link in the show notes to that episode. If you want to go deep on what I bought, I won't do it in this episode. I've added some more individual stocks, which I'll get to later in the episode. And as I said at the start of the year, investment property will form part of our strategy this year. And we got pre-approval for an investment product. Well, how the divergence begins for the first time ever. Well, I mean, we've obviously invested slightly differently over the years, but this is like the first big philosophical divergence. Yeah. Anyway, how have you performed? Neenie doesn't want to talk about it. I'm happy to, but I don't. Yeah. Okay. So, just looking at the month, my core portfolio, those three ETFs, down 9.6% in the month, out. My satellite stock portfolio, down 12.5% in the month. My best performing stock for the month, hymns and hers, up 34%. Nice. But the worst performing stock list is a little bit longer. Transmedics was down 33% in March, see limited down 25%, Wies take down 23% and acts on down 20% all in just the month of March. To zoom out a little bit, still just talking about my individual stocks. In the past 12 months, my overall portfolio is down 19%. - It's all right, that's all right. - Yeah, yeah, yeah. Zoom out, if you're watching on YouTube, you can see these screenshots from ShareSight, but the good thing about ShareSight is you can see back to where you started across multiple brokers. So in the 11 years that I've been investing since I made that very first investment on Slater and Gordon and lost all my money, my stocks are still up more than 10%, 10.2% per hour. - Per annum. - Yeah, yeah, yeah. - Per annum. - I'm down, but you know, - Down, but not out. - Down, but not out. - Down, but not out. - Opportunistically buying, I think is the timeline. - Yes, yeah, yeah, yeah. - All right, so that's me, what about you? - All right, so if I start with my core, down 10% for this month, a real drag on that is my GJUS, which I added in last month. I'm not adding any more money to it as an ongoing, but I just wanted a little bit of leverage towards the US. So it's been an hour since I bought it halfway through Feb. - Like a couple of weeks ago. - I probably called it a misdinder. (laughing) It's down almost 18%. - You bought a two to three times leveraged S&P 500 right before it had a small offer. - Yeah, I couldn't have missed time to any worse. Anyway, so that's been a real drag. Otherwise, total core portfolio down 10%. - Okay. - If I look at my thematics, ETFs are down 14%. Biggest drag is the copper ETF. I have wire, which is down 22%. Metals are getting smashed at the moment. The bright light in the portfolio is Bitcoin. Surprisingly up five and a half percent. - Is it Bitcoin at like 66,000? - But it was 63 at the start of 62 or 63. - Oh, okay. - Yeah, so it's the shining light. - I'm looking at the chart. It very much depends on the day that we measure it from. - I'm measuring it from the first of March. - Okay. According to Google, from the first of March, it's down 1%. - Oh, you know what it would be? It would go in currency. Sorry, I was looking at the Bitcoin USD price where it is down 1% in March. But you're right, the Bitcoin USD price is up 5%. - Yeah, so it's a currency play. - Yeah, yeah, yeah, yeah. - My individual stocks down 14%, very similar to your Transmedic, the biggest drag, 33%. Best performing stock is CSL flat. (laughing) - Nice. - So again, if you remember back to last month, I hadn't deployed any individual stocks. So again, couldn't have missed timed my entry into the market, but hey, I think there's no perfect time. - I think in hindsight, you'll look back and be like, I bought it a good time. Like sure, you bought it on the downside of the dip, but in hindsight, it'll look-- - Million of trade down. - Yeah. - And then to close out my active managers, five active managers, they're actually holding pretty steady. So across all of them, I'm just down 1.3%. - Yeah, which is the point of active management a lot of the time. - Yeah, so you can be the index and you can make great fees and live a good life as an active manager. We should be clear, not every active manager does it. As we say over and over again, the vast majority of active managers don't beat the index. So it's not like just buying any active manager, but the good ones capture less of the downside than the index. - Then we do. - Then we do. - Yeah. So total portfolio performance for the month down 8.7%. - Okay. - If I look at past 12 months, now this isn't full data because this is just for this portfolio that I've been setting up from November last year. - Yeah, you and your wife's joint. - Yeah, so it's not full 12 months, but it's down 7.4%. If I look at total return to your point, over since 2003, when I first got my very first investment in, it is 10.95% total return per annum. - Nice. - Yeah. - This is the time that you shouldn't be looking at your portfolio. If we didn't have to do this episode, we wouldn't be calculating our performance. We would be spending less and more earning, making sure our emergency fund is sorted in case things go wrong, getting out of any consumer debt if we have it. And then once those financial foundations are in order, we would be opportunistically buying as much as we can afford. But unfortunately, we do have to do this episode. So we do have to calculate our performance, but I can sit here and say confidently, well, that I am confident that 5, 10, 15 years from now, I'm gonna look back and be happy that I was a buyer in a moment like this. - Definitely, definitely. So I just wanna touch on portfolio construction, Ren, 'cause I think these are moments where that really comes to light as well. How you've constructed your portfolio. For me, 50% of my portfolio is in core and 30% is in active. And so-- - And then 20% is in? - No, so I aim for 10% in individual stocks, but currently it's seven. 1% in crypto and then 15% is actually in cash at the moment. - Wow. - Yeah, so still deploying, which is good into this period. - I'm getting that working. - But I think what it shows, if you look at, as I said, some of the performance, like my individual stocks are getting smashed down sort of 15% as I said, and thematic ETFs down 15, but the portfolio in total is only down, as I said, about eight and a half percent, because the majority is sitting in core index ETFs and active managers that aren't getting the draw downs anywhere near as much as some of these active. - You mean some of these individual stocks? - Some of the individual stocks, yeah. So it's important just to be clear on not only the individual things that you're buying, but how your entire portfolio is constructed, 'cause if you do go way too hard on one or two things, it's moments like these where you can really at what, so 15% in cash, the market is down, depending on what market you look at, but let's say, broadly down 10%. - Yeah. - What's your thinking about getting that money working, knowing that this could be the best time to buy, or that it could keep falling? - Yeah, so our intention over the next probably two weeks is to deploy at least half of that. - Okay. - Yeah. So I reckon by the next time we do this, that will probably be closer to seven to five percent cash. And do you just spread it evenly across everything, or is it more into the core, more into particular things? - As I said, we put some into the core throughout the last month. I think if things keep going the way they are, like you're almost, I'm not gonna say you can't lose, but as we've said, just getting money into the core. - Yeah, you can't lose if you take a 20-year-tax car. - Exactly, exactly. We'll look back and just like, the market was down. So just taking those opportunities, it's hard not to get carried away with all of the content we do here and all the opportunities that come through the door. I'm really trying to focus on just like, what is my investment philosophy? And I think over the next month, I'm gonna try and actually articulate that on the show. Like, what is the strategy for this portfolio? And I think I'm happy with positions at the moment. So it's just like before I commit to anything new, ask the question, is what I would be investing in new, better than any position I've got in here at the moment? So that I'm sort of disciplined on deploying that money. So it's likely to start with what we've got here at the moment. Even look at my individual stocks. Some of them are down meaningfully for when I bought. So I could, there's opportunity to get in again. - Definitely, definitely, yeah. - Yeah, I don't think it'll be like, increase the number of positions meaningfully. - Yeah, I've been thinking about that as well with my particular, my individual stock portfolio. It's like, every stock in it I like, and there's reasons I like it, but on aggregate, I feel like there's too much in there. And so I'm trying to figure out like, what are the ones that I can't? Annoyingly though, it's like. - Is always the reason. - No, whenever, like, I just have this unhappy knack of like cutting ones that then rip. So like I was burnt at the end of last year, I cut BHP because I was like, you know, I'm kind of duplicating what's already in the index, but like for years I've had this thesis that like the grain metal transition, he's gonna be huge for BHP. And then resources rip at the front of the year and then BHP announces that copper is now its biggest source of profit rather than iron ore. - It's like damage to hell. (laughing) - Yeah, it's tricky. That's why I mean, every expert we speak to, they just have a system and it's like, stay in the system. - Yeah, yeah, yeah. - It's just like if there's so many opportunities, but it's just like, no, no, you're laying to stay in the lane. I don't think I have my lane yet. - All right, well, let's take a break here. And then on the other side, let's get into the deep dive section of this episode where we go deep on some things we've been buying and selling. As we do that, we should say a massive thank you to Sharesight, who sponsor these monthly portfolio update episodes and help us track our portfolios. The good, the bad, the ugly, and the tax consequences at all. - Yes, yes. No, it's an amazing platform. We've been using it for a long time now. It drags in all of your portfolio positions from all the different brokers that you use into one place. It does all the currency conversions for you, just like it did with my Bitcoin. It does tax reporting, which is super handy. The capital gains tax and all of the, the, I guess, reports that you need at tax time. So if you'd like to sign up today, you can save four months on any paid Sharesight plan just head to the link in the show notes. Or if you're interested in the show notes, If you don't want to look in the show notes, you can just go to sharesite.com/equipemates. All right, Bryce, let's get to our deep dives. All right, Ren, well, I'm not going to dwell too much on this. I want to focus on my individual stocks. As I said in the opening, I have finished building out for now my healthcare portion of my individual stocks. I'm sort of bullish on the future of healthcare. And so I've bought ELA Lilly, intuitive surgical, CSL, transmedic and prometecous. And if people want to get the explanations on each of them, we'll include the link in the show notes. Yeah. Outside of that, I've added a few more, which I probably want to coin the equity mates, greatest hits. Okay. And I say that because over the years, they've been stocks that we just keep returning to that you've spoken about, that experts have spoken about, that I've spoken about, that I've got either back in the portfolio or in the portfolio for the first time because a reminder, I sold everything at the start of the year and put it all in the trust. I needed to reestablish some of my core individual stocks. So I started with Alphabet, no brain art, despite my sort of reluctance to how it would perform with the emergence of AI at the start of last year. Couldn't have got that more wrong. So search isn't dead. Search isn't dead, but I love using Gemini and we've spoken about Waymo and what they're doing in cloud. So that's in Spotify, is in dominant player, pricing power, Spotify is in, it's down and out at the moment. Yep. So I felt like good entry point to get in. We spoke about it on a Mr. Beta. I did not Mr. Beta. Can you pull a follow-up? We've came in. Coinbase, this was a Mr. Beta. It's been heavily sold off, but is a market leader in the crypto space and for institutionalized custodian and so it's in. And then finally, a company that you've spoken about that I've always loved hearing about, but has always been very expensive is Axon. And they've been caught up in the AI sell-off, certainly overblown. I don't need to give a spiel about it. It's been spoken about many times. Yeah, you can't quad code your way to a body cam contract with a local police car. Absolutely not. So, whilst it was expensive, maybe it's normalizing a little bit, but it's down multiples at the moment. So that's in. So those are the additional four that I've put in. As I said, there's so many on the watch list that I'm eager to put in as well, but I think it's just like, let's focus. Let's ensure that we've got a bit of a strategy here. So that's really it. I'm not going to go deep on that. Because all the companies are pretty well known. Pretty well known. I don't need to talk too much about it. In our portfolio update last month, I said, I mentioned that I've got a Gemini investment analyst running on the side where I plug in my portfolio from share site and get it to review all of the positions and give it sort of like a buy hold sell recommendation and a reason why it also brings up any news that impacts all of the stocks and any upcoming things to be aware of. Plus provides some ideas on contrarian or uncorrelated. I should say stock pitches are based on my portfolio. So I just thought of interest. Its advice this month was to put more into Elylilie and Prometicus. And last month, it gave a uncorrelated stock pick called APA Corporation and Energy Company. It's up 40% since the pick. So I thought, what has it pitched this month as uncorrelated? And it said West farmers and Costco as the two uncorrelated stock picks. So just, I don't know, something to, I don't mind it just to keep the ideas flowing. But the only thing of interest to me there is the Elylilie and Prometicus. And did you do anything with the West farmers or anything? This is just going to kind of sit on a watch list for me because it, it would be silly just to keep buying what it's saying. I just like it as a sort of a thought process to be like, okay, is, how correlated is everything in my stock portfolio at the moment? Costco is still very expensive. It's one of these companies that has been picked up in there. What do they call it? The Halo trade. Halo, yeah. So it's trading at some pretty eye-watering multiples. So anyway, that's where my portfolio is out for this month. Nice. All right. I'll get into my side of the fence. The deep dive, as I said earlier, I'm going to look at the debt recycling. I always get confused like, people get quite technical about debt recycling. I'm not sure if we're actually debt recycling or we're just pulling equity out and investing it. The learning from the discussions we've had in the Facebook group is, it sounds like you're now borrowing to invest. We are increasing our leverage. So we're not doing the technical debt recycling, taking a non-deductible debt and just making it deductible. We are increasing, we're borrowing to invest, but we're borrowing from our home. Against the home. Yeah. Cool. All right. We're all sorted. Done. All right. So in this portfolio, we haven't deployed it all similar to you. It's like there's a bit of cash that we're going to slowly average in if the market keeps dropping or, you know, we'll at least have got about half in immediately. And if this is the low point, great. We've got half in at the low and we'll just average in as it keeps rising. Number five funds that we have invested in, we've tried to go a variety of philosophies. So we've started with just global growth and picked a manager that I've always been impressed with whenever he's come through the podcast studio, Nick Griffin and Monroe. The ASX ticket is MCGG, Monroe Concentrated Global Growth Active ATF. Since 2022, it's delivered 6.6% per annum. 2022 was when the ATF kicked off. It's been in the benchmark by 4.5% a year. It's like the big hitter global growth names and video TSMC, CATL, which is the Chinese battery maker, Amazon's in the top five. That's number one, just tick global growth. The next one is Dr David Allen who came in recently from Plato. So I invested in the Plato Global Alpha Fund Complex ATF, PGA1. So it's a quant fund. It's a very big, rules-based investing, whatever you call it, very different approach to the market. It has delivered since inception 23.8% a year. Beating its benchmark, I think it's the MSCI Global Index, beating that benchmark by 12.9% per year. So that's a very different approach to markets, but they've both beaten their benchmarks, which you like to see. Number three, now this is one that you've first, I didn't know it existed until you spoke about it. I knew the fund manager existed, but not the fund. You pitched it and then the financial advisor that we both work with also pitched it. So you know, get hearing it from all sides. 5V Capital Horizons Fund, private equity fund, really focused on intergenerational wealth transfer businesses, buying small and medium, well not small, but buying private Australian and New Zealand businesses. Completely different opportunity set. It's delivered 15% per annum since inception in 2023. Not a long track record, but good to say they're the three active managers that are backed in. And then there's two thematic ATFs. Both have had good runs recently, but I would expect that to continue at least for a little while with one of them. The BDShare's Global Defense ATF, ARMA, ARMR, it's up 48% in the past 12 months and it owns the big military contractors. Obviously they're front of mind because of the conflict in Iran, but really the theme is bigger than that and longer term than that. It's the re-arming of Europe. It's concerns about Russia, concerns about China. It's big defense spending globally. And then the final thematic ATF is the BDShare's Asia Technology Tigers ATF. Asia is the ticker, owns 50 of the largest Asian tech businesses. It's up 49% in the past 12 months. It has ripped. A big reason it's ripped is because of the Korean memory makers. So Samsung and SK Hionics are now two of its biggest positions. Then TSMC, the Taiwanese semiconductor maker, the reason I also like it is just the Chinese tech names as well, Tencent, Alibaba and the like. So they're the five. Yeah, it's soldy-waving SK Hionics. These are the only ways you can get access to some of these companies through ETR. Apparently SK Hionics is looking at a US listing. Oh, great. Yeah, yeah, yeah. Great. But I mean, you know, nothing wrong with buying the ATF. No, no, no, no. Yeah, I like it. So just a couple of questions. Are they going, are these the five that you're just going to add into or is it like five as the baseline? So you know me, I love the investment menu. What I'm trying not to do is duplicate like philosophy, I guess. Yeah, yeah, yeah. I'm not stuck at these five. Like I'm sure there will probably be more along the journey, but I would be comfortable if we just kept averaging into these five as well. I feel like it gives pretty decent coverage geographically, philosophically. Yeah, yeah. Why with the borrowed to investor approach, did you choose just active and thematic? Because I wanted it in a completely separate environment. So it is easy from accounting to know like what that money was then because we're going through an advisor, we can use Hub24. So I just figured do and Hub24 is because it's bigger investment menu, you can get access to a lot of unlisted funds and you can invest in them from a dollar. So it made sense to do active managers through that. That's the answer. Nice. Yeah. Do you still have hack and stuff though? No, I sold all my activities. Really? Yeah, yeah, yeah. Yeah, yeah, yeah, yeah, just because it was this is the sleeve. Yeah, yeah. Oh, nice. Well, unless there's anything else that brings us to the end of a tough month, tough month, very nice. What's going to happen? An exciting month for the future. Definitely. Yeah. Yeah. A foundational month. These are the moments that you will regret not investing. Yeah. The moments where you regret not having some cash on the side. These are the moments you regret not subscribing to equity mates and keeping up to date with the opportunities that are coming through. Yeah. So don't let your future self down. Subscribe. But wherever you're watching or listening, so you don't miss future episodes as we unpack our portfolios as we speak to experts and we continue on the investing journey. And we're all together. Try and build a little bit of wealth in the stock market to set up our future selves. Love it. Well, that does it. A reminder, if you want to track your portfolios like we do using share sites, they're offering four months free for any paid share site plan. Head to equity mates.com will know actually head to share site.com/acredymates. Brand will leave it there. Pick it up next episode. Sounds good. You've been listening to an equity mates 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 mates media operates under Australian financial services license 540697.