1 00:00:00,240 --> 00:00:03,600 Speaker 1: Why you need to start investing right now if you 2 00:00:03,720 --> 00:00:07,680 Speaker 1: haven't already. Welcome back to Sugarmuma's Fireplay. I am your 3 00:00:07,680 --> 00:00:10,600 Speaker 1: host financial planner, Cannah Campbell, and as you know, I'm 4 00:00:10,640 --> 00:00:13,560 Speaker 1: here every Monday morning at five am to help make 5 00:00:13,600 --> 00:00:16,400 Speaker 1: sure that you start your week off on an inspired, 6 00:00:17,040 --> 00:00:22,279 Speaker 1: educated and informed note. Today we're talking about one of 7 00:00:22,320 --> 00:00:24,880 Speaker 1: the most important conversations that you can never have about 8 00:00:24,920 --> 00:00:28,520 Speaker 1: your financial future, why you need to be investing, and 9 00:00:28,560 --> 00:00:31,960 Speaker 1: why it's more important than ever before. So I'm really 10 00:00:32,000 --> 00:00:35,319 Speaker 1: hoping today's episode is a massive wake up call if 11 00:00:35,360 --> 00:00:37,800 Speaker 1: you've been thinking about investing but actually haven't started at 12 00:00:38,000 --> 00:00:41,360 Speaker 1: or perhaps you've already started investing, but you're ready to 13 00:00:41,400 --> 00:00:44,479 Speaker 1: maybe up the ante and take your investing strategy and 14 00:00:44,560 --> 00:00:49,160 Speaker 1: journey to a far more serious level now. At the moment, 15 00:00:49,520 --> 00:00:52,800 Speaker 1: everywhere we look on the headlines is all about the 16 00:00:52,800 --> 00:00:56,120 Speaker 1: cost of living pressures, the widening wealth gaps, and of 17 00:00:56,160 --> 00:01:01,720 Speaker 1: course AI AI disrupting our workforce, taking our security away 18 00:01:01,720 --> 00:01:04,800 Speaker 1: from ourselves. But the truth is, if we want to 19 00:01:04,880 --> 00:01:09,560 Speaker 1: secure our financial future, we can't just rely on one paycheck. 20 00:01:10,000 --> 00:01:13,280 Speaker 1: We need to look at creating additional streams of wealth. 21 00:01:13,640 --> 00:01:18,440 Speaker 1: That is passive income, through investing. Now to help us 22 00:01:18,560 --> 00:01:22,040 Speaker 1: explore this together, I'm joined by a very special guest, 23 00:01:22,280 --> 00:01:26,120 Speaker 1: mister Michael McCarthy from MUMU. And if you're thinking this 24 00:01:26,240 --> 00:01:29,679 Speaker 1: name sounds familiar, you are spot on. Michael actually came 25 00:01:29,720 --> 00:01:32,880 Speaker 1: on to Sugarmuma's fireplay about maybe a year ago or so, 26 00:01:33,480 --> 00:01:37,400 Speaker 1: and you guys absolutely loved his words of wisdom. So 27 00:01:37,959 --> 00:01:41,840 Speaker 1: I am very excited to have this highly respected veteran 28 00:01:41,920 --> 00:01:44,400 Speaker 1: investor here with us today so we can unpack the 29 00:01:44,440 --> 00:01:48,920 Speaker 1: big questions why investing matters, the strategies that are available 30 00:01:48,960 --> 00:01:52,200 Speaker 1: to help us actually build that passive income, and the 31 00:01:52,240 --> 00:01:55,400 Speaker 1: myths that are actually holding us back or perhaps stopping 32 00:01:55,480 --> 00:02:00,200 Speaker 1: us from getting started, and of course, how Mumoo's own 33 00:02:00,280 --> 00:02:03,560 Speaker 1: AI driven tools can actually help support us in making 34 00:02:03,600 --> 00:02:08,680 Speaker 1: those very exciting investor decisions every single day of the week. Now, 35 00:02:08,720 --> 00:02:11,919 Speaker 1: before we jump in, a very quick reminder, today's episode 36 00:02:11,960 --> 00:02:15,560 Speaker 1: is proudly sponsored by Mumu and everything that we discuss 37 00:02:15,880 --> 00:02:18,880 Speaker 1: is general in nature. It is not personal advice, it 38 00:02:18,960 --> 00:02:21,560 Speaker 1: is not product advice, so please bear that in mind. 39 00:02:21,560 --> 00:02:24,840 Speaker 1: It is essential that you consider your own circumstances and 40 00:02:24,880 --> 00:02:27,560 Speaker 1: you speak with a licensed financial planner before making any 41 00:02:27,840 --> 00:02:43,800 Speaker 1: major investment decisions. All right, let us begin. Michael, it 42 00:02:43,960 --> 00:02:45,359 Speaker 1: is so wonderful to have you here. 43 00:02:46,120 --> 00:02:48,720 Speaker 2: How are you, Kenna. I'm well, and thank you for 44 00:02:48,760 --> 00:02:51,919 Speaker 2: that very generous introduction. I hate to spoil a good 45 00:02:51,960 --> 00:02:54,480 Speaker 2: story with facts, so I'll leave it alone. But it's 46 00:02:54,520 --> 00:02:56,440 Speaker 2: great to be here, and it's a great time in market. 47 00:02:56,560 --> 00:02:58,640 Speaker 1: Oh you need to tell me. I don't want to 48 00:02:58,680 --> 00:03:00,480 Speaker 1: be factually incret. 49 00:03:01,840 --> 00:03:07,519 Speaker 2: No, I'm simply saying you might have overblown my reputation rubbish. Regardless, 50 00:03:07,600 --> 00:03:09,280 Speaker 2: it is a great time to be alive and it's 51 00:03:09,280 --> 00:03:10,679 Speaker 2: a great time to be an investor. 52 00:03:11,120 --> 00:03:13,560 Speaker 1: I couldn't agree more. In fact, you know, we were 53 00:03:13,600 --> 00:03:16,280 Speaker 1: only walking into the studio chatting about how exciting it 54 00:03:16,320 --> 00:03:19,079 Speaker 1: is at the moment in the markets, and the opportunities 55 00:03:19,120 --> 00:03:22,639 Speaker 1: that lie ahead of us, and the importance of getting started. 56 00:03:22,639 --> 00:03:24,040 Speaker 1: But I think at the end of the day, what's 57 00:03:24,080 --> 00:03:26,200 Speaker 1: so important is is not how much you earn, is 58 00:03:26,240 --> 00:03:28,160 Speaker 1: what you do with what you earn, and that is 59 00:03:28,400 --> 00:03:31,639 Speaker 1: putting that money towards your future, not just being part 60 00:03:31,639 --> 00:03:35,400 Speaker 1: of the lifestyle creep and spending. It's about just parking 61 00:03:35,400 --> 00:03:38,440 Speaker 1: a portion of your income aside for a rainy day, 62 00:03:38,440 --> 00:03:41,840 Speaker 1: but making sure that you're parking it into an investment platform. 63 00:03:41,920 --> 00:03:44,680 Speaker 1: So I'm very excited that we are on the same 64 00:03:44,720 --> 00:03:48,120 Speaker 1: wavelength when it comes to this important message. Can we 65 00:03:48,320 --> 00:03:52,720 Speaker 1: talk about this economic environment and why you think it 66 00:03:52,800 --> 00:03:57,440 Speaker 1: is so incredibly important than ever before perhaps to be 67 00:03:58,000 --> 00:03:59,760 Speaker 1: investing as an Australian. 68 00:04:00,480 --> 00:04:02,520 Speaker 2: I've worked with a lot of very talented people over 69 00:04:02,560 --> 00:04:05,560 Speaker 2: the years. I've been very lucky and I've worked with 70 00:04:05,600 --> 00:04:10,000 Speaker 2: international investment banks, brokers, financial institutions of all kinds, and 71 00:04:10,040 --> 00:04:11,600 Speaker 2: I've met a lot of people. And some of my 72 00:04:11,720 --> 00:04:14,960 Speaker 2: former colleagues are now wealthy, two of them to nine 73 00:04:14,960 --> 00:04:18,440 Speaker 2: figures that their wealth is messaged in the hundreds of millions. 74 00:04:18,600 --> 00:04:21,240 Speaker 2: Plenty of my former colleagues wealth is measured in the 75 00:04:21,279 --> 00:04:25,080 Speaker 2: tens of millions. So I've met some very successful. 76 00:04:24,480 --> 00:04:25,599 Speaker 3: People along the way. 77 00:04:26,240 --> 00:04:28,560 Speaker 2: But one of the stories that I heard, and this 78 00:04:28,720 --> 00:04:30,640 Speaker 2: was a close colleague of mine, we'd worked together, we 79 00:04:30,720 --> 00:04:33,359 Speaker 2: collaborated on that particular thing. He did the sales and 80 00:04:33,400 --> 00:04:36,040 Speaker 2: I was running the trading book. And he told me, 81 00:04:36,160 --> 00:04:39,080 Speaker 2: after about twenty years, he said, macat nobody ever talks 82 00:04:39,120 --> 00:04:42,560 Speaker 2: about the risks of only being in cash now. He'd 83 00:04:42,560 --> 00:04:47,480 Speaker 2: had a humble upbringing, single widowed mother, raised. He was 84 00:04:47,520 --> 00:04:51,000 Speaker 2: an only child, and money was very important to him. 85 00:04:51,120 --> 00:04:54,040 Speaker 2: And he saved furiously from the first job that he 86 00:04:54,120 --> 00:04:56,479 Speaker 2: had in an electronics retailer while he was studying for 87 00:04:56,520 --> 00:04:59,120 Speaker 2: his degree, and he saved everything and he kept it 88 00:04:59,160 --> 00:05:03,120 Speaker 2: in cash. After twenty years, he'd fallen so far behind 89 00:05:03,240 --> 00:05:06,479 Speaker 2: everyone else. He thought he was being safe, but he 90 00:05:06,560 --> 00:05:08,640 Speaker 2: said mac and people don't talk about the risks of 91 00:05:08,680 --> 00:05:13,040 Speaker 2: investing only in cash. And everybody else had bought houses, 92 00:05:13,680 --> 00:05:16,440 Speaker 2: maybe started a share portfolio, had done and of course 93 00:05:16,560 --> 00:05:20,960 Speaker 2: at this time markets were booming, property was booming, opportunities 94 00:05:20,960 --> 00:05:23,720 Speaker 2: everywhere exactly, and he was still all in cash. 95 00:05:23,880 --> 00:05:25,039 Speaker 3: And he learned his lesson. 96 00:05:25,279 --> 00:05:27,680 Speaker 2: And I'm happy to say that around fifteen years ago 97 00:05:27,720 --> 00:05:29,920 Speaker 2: he bought himself a nice, big house and he started 98 00:05:29,920 --> 00:05:30,840 Speaker 2: his shareport folio. 99 00:05:30,880 --> 00:05:32,560 Speaker 3: And he's now caught up a lot. 100 00:05:32,920 --> 00:05:34,080 Speaker 1: It's never too late, is it. 101 00:05:34,080 --> 00:05:35,000 Speaker 3: It's never too late. 102 00:05:35,160 --> 00:05:38,240 Speaker 1: Oh that breaks my heart, because the best intentions but 103 00:05:38,480 --> 00:05:42,920 Speaker 1: just missing that important I guess education around inflation and 104 00:05:43,640 --> 00:05:48,000 Speaker 1: compounding interest and two dimensional three dimensional investment assets and 105 00:05:48,040 --> 00:05:50,840 Speaker 1: how they work. So oh, I feel so it makes 106 00:05:50,880 --> 00:05:53,000 Speaker 1: me sad. Obviously, I'm very happy that he's managed to 107 00:05:53,040 --> 00:05:55,200 Speaker 1: catch up and make up for lost time. It's so 108 00:05:55,200 --> 00:05:58,200 Speaker 1: funny you say this because yesterday I had a meeting 109 00:05:58,279 --> 00:06:00,880 Speaker 1: with a lovely young lady and she actually met with 110 00:06:00,880 --> 00:06:04,240 Speaker 1: me in twenty eighteen, and she has been saving her 111 00:06:04,279 --> 00:06:08,200 Speaker 1: little heart out and she has saved a significant amount 112 00:06:08,320 --> 00:06:12,680 Speaker 1: of money, like well six figures, and she wants to 113 00:06:12,680 --> 00:06:15,040 Speaker 1: invest that money. And she's like, oh, I'm not ready yet. 114 00:06:15,040 --> 00:06:17,600 Speaker 1: I've still got to keep saving more. And I'm like, no, no, 115 00:06:17,760 --> 00:06:20,599 Speaker 1: you're ready to go. She's like, I'm so risk averse. 116 00:06:20,640 --> 00:06:21,960 Speaker 1: I don't want to, you know. I was like, of course, 117 00:06:21,960 --> 00:06:23,200 Speaker 1: you don't want to do anything to You're already and 118 00:06:23,240 --> 00:06:25,159 Speaker 1: you understand what you're doing. But she's like, I have 119 00:06:25,200 --> 00:06:27,320 Speaker 1: to say for like four or five more years. I'm like, no, 120 00:06:27,400 --> 00:06:30,680 Speaker 1: you don't. You're ready to go, and you're missing opportunities 121 00:06:30,720 --> 00:06:32,520 Speaker 1: around you all the time. So it's quite interesting that 122 00:06:32,560 --> 00:06:35,800 Speaker 1: we both have such similar stories potentially fought with danger 123 00:06:35,839 --> 00:06:37,280 Speaker 1: and risk and regret. 124 00:06:37,600 --> 00:06:39,120 Speaker 3: It's a terrible thing to realize. 125 00:06:39,240 --> 00:06:43,160 Speaker 1: So when it comes to investing and you know, feeling safe, 126 00:06:43,480 --> 00:06:47,039 Speaker 1: how do you find then that balance of investing for 127 00:06:47,080 --> 00:06:49,600 Speaker 1: the long run. And I'm obviously parking some money in 128 00:06:49,600 --> 00:06:52,560 Speaker 1: cash and then even you're incorporating property into that as well, Like, 129 00:06:52,600 --> 00:06:54,240 Speaker 1: how do you find that balance? 130 00:06:54,640 --> 00:06:58,440 Speaker 2: Well, the answer to that question is very individual because 131 00:06:58,680 --> 00:07:01,320 Speaker 2: as investors, we come to the market with all sorts 132 00:07:01,320 --> 00:07:05,479 Speaker 2: of different characteristics, different timeframes, different amounts of capital, different experience, 133 00:07:05,839 --> 00:07:09,400 Speaker 2: and different risk appetites. And I've heard people speak about 134 00:07:09,440 --> 00:07:12,200 Speaker 2: the sleep at night factor, and I think it's important 135 00:07:12,360 --> 00:07:15,800 Speaker 2: your investments should reflect your own risk appetite. And the 136 00:07:15,800 --> 00:07:18,200 Speaker 2: way you can tell is if you're sleeping well at night. 137 00:07:18,280 --> 00:07:19,960 Speaker 2: If you're not sleeping well at night, you probably need 138 00:07:20,000 --> 00:07:23,560 Speaker 2: to rebalance your portfolio. But I think to practice, like 139 00:07:23,880 --> 00:07:26,840 Speaker 2: in any other endeavor, learning to live with risk is 140 00:07:26,880 --> 00:07:29,520 Speaker 2: partly about the experience of it, and that's why it's 141 00:07:29,520 --> 00:07:32,040 Speaker 2: so important for people to get started, to get that 142 00:07:32,160 --> 00:07:35,520 Speaker 2: experience so they become comfortable with risk. Now, there are 143 00:07:35,560 --> 00:07:37,560 Speaker 2: plenty of ways to deal with risk in the markets. 144 00:07:37,600 --> 00:07:39,760 Speaker 2: There's plenty of ways we can lower risk, but there 145 00:07:39,760 --> 00:07:43,000 Speaker 2: are always some risks because risk and reward are related, 146 00:07:43,200 --> 00:07:45,520 Speaker 2: and if you want the rewards of investment, you have 147 00:07:45,600 --> 00:07:47,280 Speaker 2: to be prepared to take some risks. 148 00:07:47,520 --> 00:07:50,680 Speaker 1: Absolutely, appendulum swings both ways. Now, you and I are 149 00:07:50,680 --> 00:07:55,600 Speaker 1: both passionate investors, we both invest in equities, My approach 150 00:07:55,680 --> 00:07:58,480 Speaker 1: is very much a long term buy and hold. I'm 151 00:07:58,560 --> 00:08:01,600 Speaker 1: very focused on listed investment companies. I love you know, 152 00:08:01,680 --> 00:08:05,400 Speaker 1: industrial stocks that pay fully frank dividends, and I reinvest 153 00:08:05,960 --> 00:08:08,400 Speaker 1: every cent you know, with a focus on building up 154 00:08:08,400 --> 00:08:11,280 Speaker 1: the passive income to ultimately and give me fire number. 155 00:08:11,520 --> 00:08:13,800 Speaker 1: You are very different to me, and that you are 156 00:08:13,960 --> 00:08:16,320 Speaker 1: active trader, so jumping in and out of stocks. You're 157 00:08:16,320 --> 00:08:18,880 Speaker 1: a lot more sophisticated, a lot more experienced as well. 158 00:08:19,080 --> 00:08:23,120 Speaker 1: Where do you see the biggest risk and that is 159 00:08:23,120 --> 00:08:24,880 Speaker 1: a lot of long term risk as shares are for 160 00:08:24,920 --> 00:08:28,480 Speaker 1: the long run by not actually investing in growth assets 161 00:08:28,520 --> 00:08:29,800 Speaker 1: such as shares. 162 00:08:29,720 --> 00:08:32,840 Speaker 2: Well, if you're not investing in growth assets in the 163 00:08:32,880 --> 00:08:35,679 Speaker 2: long run, you're missing out. Because we don't often think 164 00:08:35,679 --> 00:08:38,120 Speaker 2: about this, but wealth is relative. If ten million dollars 165 00:08:38,200 --> 00:08:40,800 Speaker 2: dropped into your account today, you'd be able to go 166 00:08:40,840 --> 00:08:43,520 Speaker 2: out and buy yourself possibly any house, almost any house you. 167 00:08:43,440 --> 00:08:44,280 Speaker 3: Wanted in Australia. 168 00:08:44,360 --> 00:08:46,880 Speaker 2: But if everybody had ten million dollars pop into their 169 00:08:46,920 --> 00:08:49,400 Speaker 2: account today, you wouldn't be able to do that because 170 00:08:49,400 --> 00:08:53,079 Speaker 2: you'd still be competing against the same people. Wealth is relative, 171 00:08:53,640 --> 00:08:56,480 Speaker 2: and so if everybody's investing in making money and you're not. 172 00:08:57,200 --> 00:09:00,640 Speaker 2: You're going backwards in terms of how you live, what 173 00:09:00,679 --> 00:09:02,720 Speaker 2: you'll be able to buy in the future. And we 174 00:09:02,960 --> 00:09:07,160 Speaker 2: can go because people who have more resources, more money 175 00:09:07,480 --> 00:09:08,439 Speaker 2: will get there ahead of. 176 00:09:08,400 --> 00:09:10,480 Speaker 1: You, and they have so much more opportunity, so much 177 00:09:10,520 --> 00:09:15,200 Speaker 1: more flexibility. We're hearing about the great wealth divide. You know, 178 00:09:15,240 --> 00:09:18,680 Speaker 1: the middle class is sort of evaporating away, disintegrating, and 179 00:09:18,720 --> 00:09:22,120 Speaker 1: it's either ultra wealth or basically on the bread line. 180 00:09:22,160 --> 00:09:26,720 Speaker 1: Where do you see the importance of investing help bridge 181 00:09:26,960 --> 00:09:31,240 Speaker 1: this gap and help create that essential equality in our country. 182 00:09:31,400 --> 00:09:33,920 Speaker 2: Well, one of the things we've noticed at Moonboo, Cana 183 00:09:34,120 --> 00:09:36,640 Speaker 2: Is that a lot of younger people appear to be 184 00:09:36,760 --> 00:09:40,080 Speaker 2: investing to buy something, and it looks very much like 185 00:09:40,120 --> 00:09:41,480 Speaker 2: they're investing to buy a house. 186 00:09:42,240 --> 00:09:44,840 Speaker 1: So they're using their shareput forward to build up a deposit. 187 00:09:45,000 --> 00:09:45,439 Speaker 3: That's right. 188 00:09:45,559 --> 00:09:47,480 Speaker 2: Rather than putting that money in the bank and earning 189 00:09:47,520 --> 00:09:50,680 Speaker 2: three percent on it, they're putting it into the share market, 190 00:09:50,800 --> 00:09:55,920 Speaker 2: and while the market rises, it's actually generating additional returns 191 00:09:55,960 --> 00:09:59,680 Speaker 2: on top of the money that they're saving. Now no guarantees, 192 00:10:00,720 --> 00:10:02,960 Speaker 2: there's no guarantees in the market, and the market can 193 00:10:03,000 --> 00:10:04,000 Speaker 2: turn down at any time. 194 00:10:04,160 --> 00:10:04,960 Speaker 1: It's very volatile. 195 00:10:05,320 --> 00:10:08,520 Speaker 2: Absolutely, So there are all sorts of additional risks in 196 00:10:08,600 --> 00:10:10,560 Speaker 2: doing this, but so far the people who have done 197 00:10:10,559 --> 00:10:13,440 Speaker 2: that are getting the rewards and they're getting closer to 198 00:10:13,520 --> 00:10:15,000 Speaker 2: their goals faster. 199 00:10:15,640 --> 00:10:18,160 Speaker 1: There are so many different investment strategies out there. Like 200 00:10:18,200 --> 00:10:21,280 Speaker 1: I've mentioned, I'm a passive investor, long term buy and hold. 201 00:10:21,760 --> 00:10:25,840 Speaker 1: You're very much an active investor. But then there's so 202 00:10:25,960 --> 00:10:30,000 Speaker 1: many other different styles and strategies. What would you see 203 00:10:30,080 --> 00:10:33,680 Speaker 1: as the most I guess easy to start with strategy. 204 00:10:34,120 --> 00:10:36,720 Speaker 1: If you want to start investing, building up a share 205 00:10:36,720 --> 00:10:40,839 Speaker 1: portfolio and start earning passive income through dividends, where would 206 00:10:41,040 --> 00:10:43,679 Speaker 1: someone get started. You're at one end of the spectrum. 207 00:10:43,720 --> 00:10:46,040 Speaker 1: I'm probably halfway, and then someone might be just entering 208 00:10:46,080 --> 00:10:47,080 Speaker 1: into the share market. 209 00:10:47,600 --> 00:10:50,440 Speaker 2: Absolutely, and I think you make at and point there 210 00:10:50,480 --> 00:10:53,760 Speaker 2: in the market, I'm trying to generate what the economists 211 00:10:53,800 --> 00:10:55,920 Speaker 2: call excess return, so I'm trying to be trying to 212 00:10:55,960 --> 00:10:56,760 Speaker 2: beat the benchmark. 213 00:10:56,800 --> 00:10:57,200 Speaker 3: That's right. 214 00:10:57,559 --> 00:10:59,400 Speaker 2: I'm trying to make money out of being active in 215 00:10:59,440 --> 00:11:01,680 Speaker 2: the market. But the surest way to make money in 216 00:11:01,720 --> 00:11:03,520 Speaker 2: the market is to be in the market for a 217 00:11:03,520 --> 00:11:06,920 Speaker 2: long time. That's where we know most of the vast 218 00:11:07,000 --> 00:11:10,160 Speaker 2: fortunes that people have had been made, they've stayed in 219 00:11:10,160 --> 00:11:13,200 Speaker 2: the market, they've allowed their returns to compound over the 220 00:11:13,240 --> 00:11:13,840 Speaker 2: long term. 221 00:11:14,000 --> 00:11:14,720 Speaker 3: That is the. 222 00:11:14,559 --> 00:11:17,520 Speaker 2: Easiest and surest way to wealth. So that is a 223 00:11:17,559 --> 00:11:19,920 Speaker 2: sensible approach as well. And you're right to point out 224 00:11:19,920 --> 00:11:22,320 Speaker 2: that we're doing different things here. For somebody coming in, 225 00:11:22,400 --> 00:11:26,000 Speaker 2: I'd suggest that the goal is to have a diversified portfolio, 226 00:11:26,200 --> 00:11:29,120 Speaker 2: a portfolio of different assets that you can hold that 227 00:11:29,440 --> 00:11:31,640 Speaker 2: through the cycles, through the ups and downs of the 228 00:11:31,679 --> 00:11:34,439 Speaker 2: property markets, of the share markets, of the bond markets, 229 00:11:34,480 --> 00:11:36,400 Speaker 2: through all those ups and downs, you can hang on 230 00:11:37,000 --> 00:11:39,800 Speaker 2: and take advantage of that compounding, that power of time. 231 00:11:40,440 --> 00:11:43,760 Speaker 3: So start with the things you know. And that's what 232 00:11:43,800 --> 00:11:44,559 Speaker 3: we're seeing a. 233 00:11:44,520 --> 00:11:46,440 Speaker 2: Lot, a lot of the shares that are doing really 234 00:11:46,440 --> 00:11:48,960 Speaker 2: well at the moment, the shares that we. 235 00:11:48,920 --> 00:11:51,440 Speaker 1: Know, companies we're familiar where than we see. 236 00:11:51,320 --> 00:11:55,200 Speaker 2: Well, that's it, and whether that's Apple and Meta Google, 237 00:11:55,480 --> 00:12:00,240 Speaker 2: or whether that's Woolworthsaw or A and Z Bank, And 238 00:12:00,320 --> 00:12:03,280 Speaker 2: start buying the shares in the businesses that they know, 239 00:12:03,679 --> 00:12:06,200 Speaker 2: They know the brand, they use it themselves. Perhaps they 240 00:12:06,280 --> 00:12:08,840 Speaker 2: might even be impressed with the product, and for that 241 00:12:09,000 --> 00:12:11,520 Speaker 2: reason that's a good place for them to start. It 242 00:12:11,600 --> 00:12:14,960 Speaker 2: gives them comfort that they've got some familiarity with the 243 00:12:15,000 --> 00:12:17,840 Speaker 2: investment they're making. And of course, if you do that 244 00:12:17,880 --> 00:12:19,800 Speaker 2: two or three times and you start to get a 245 00:12:19,800 --> 00:12:22,720 Speaker 2: bit of a portfolio together, you get the benefits of 246 00:12:22,720 --> 00:12:25,680 Speaker 2: that diversification as well. So get started, I think would 247 00:12:25,720 --> 00:12:27,800 Speaker 2: be the thing, and start small exactly. 248 00:12:27,880 --> 00:12:29,520 Speaker 1: And men, that's a great thing about MOMO. You can 249 00:12:30,000 --> 00:12:32,280 Speaker 1: look at the fractional investing to get started and build 250 00:12:32,360 --> 00:12:36,280 Speaker 1: upon from there, which is absolutely brilliant for people who 251 00:12:36,280 --> 00:12:37,960 Speaker 1: are nervous and just want to sort of dip their 252 00:12:38,000 --> 00:12:40,880 Speaker 1: toey in before they start putting serious money into their 253 00:12:40,920 --> 00:12:43,640 Speaker 1: investment portfolio. Look, we'll come to those obviously, all those 254 00:12:43,679 --> 00:12:46,160 Speaker 1: amazing tools that move you off in a second. I 255 00:12:46,200 --> 00:12:49,480 Speaker 1: want to just talk about the markets. We know the markets, 256 00:12:49,520 --> 00:12:53,080 Speaker 1: as you said, extremely volatile, and you know, if you're 257 00:12:53,120 --> 00:12:55,400 Speaker 1: going to be building up a share portfolio, it is 258 00:12:55,640 --> 00:12:59,960 Speaker 1: predominantly a long term strategy ten years, if not indefinitely. 259 00:13:00,280 --> 00:13:03,120 Speaker 1: And I for myself, which I've shared with all the listeners, 260 00:13:03,120 --> 00:13:05,080 Speaker 1: when I buy a stock, I don't ever intend to 261 00:13:05,120 --> 00:13:07,839 Speaker 1: sell it unless something spectacular happens and I need to 262 00:13:07,880 --> 00:13:09,800 Speaker 1: take a rid of it. But I'm very much about 263 00:13:09,800 --> 00:13:13,000 Speaker 1: building up that long term passive income to evenually live off. 264 00:13:13,920 --> 00:13:17,240 Speaker 1: For new investors or people who have recently started building 265 00:13:17,320 --> 00:13:20,360 Speaker 1: up their share portfolio, it's so important for them to 266 00:13:20,400 --> 00:13:23,800 Speaker 1: understand that that market volatility is very very normal and 267 00:13:24,120 --> 00:13:27,960 Speaker 1: very natural part and parcel. But how would you help 268 00:13:28,080 --> 00:13:31,360 Speaker 1: people who do get nervous still hearing me say this, 269 00:13:32,000 --> 00:13:35,120 Speaker 1: and learn to stay the course during these highly volatile 270 00:13:35,160 --> 00:13:35,840 Speaker 1: periods of time. 271 00:13:36,000 --> 00:13:37,840 Speaker 2: I think we should be talking about one of the 272 00:13:37,960 --> 00:13:41,200 Speaker 2: key trends in the Australian share market over the last 273 00:13:41,240 --> 00:13:44,960 Speaker 2: twenty years, and that is the growth in ETFs. ETF 274 00:13:45,000 --> 00:13:49,120 Speaker 2: stands for exchange traded fund, and that's exactly what it is. 275 00:13:49,440 --> 00:13:52,640 Speaker 2: It's a fund, it's a portfolio of stocks usually and 276 00:13:52,760 --> 00:13:55,079 Speaker 2: it's listed on the stock exchange, so you can buy 277 00:13:55,200 --> 00:13:59,000 Speaker 2: a whole portfolio in one transaction. And that's what we 278 00:13:59,160 --> 00:14:02,360 Speaker 2: notice a lot about your customers doing. The first purchase 279 00:14:02,400 --> 00:14:05,360 Speaker 2: they make is not a stock, it's an ETF and 280 00:14:05,480 --> 00:14:08,360 Speaker 2: exchange traded fund. And the reason for that is with 281 00:14:08,400 --> 00:14:10,400 Speaker 2: a lot of the ETFs, you can buy exposure to, 282 00:14:10,440 --> 00:14:12,800 Speaker 2: say the Australia two hundred index, which means you're getting 283 00:14:12,800 --> 00:14:15,079 Speaker 2: two hundred shares to one purchase, or you can buy 284 00:14:15,080 --> 00:14:17,480 Speaker 2: an S and P five hundred ETF and get exposure 285 00:14:17,520 --> 00:14:20,520 Speaker 2: to five hundred US shares in one single purchase in 286 00:14:20,560 --> 00:14:22,720 Speaker 2: the amount that you want to invest. So it's a 287 00:14:22,840 --> 00:14:26,600 Speaker 2: very convenient way to start a portfolio because you're starting 288 00:14:26,960 --> 00:14:29,840 Speaker 2: with a diversified core that you can hold for the 289 00:14:29,840 --> 00:14:30,560 Speaker 2: long term. 290 00:14:30,720 --> 00:14:34,720 Speaker 1: And the greater the quality of that diversification, lower the 291 00:14:34,760 --> 00:14:37,200 Speaker 1: volatility is going to be. I mean, the volatility obviously 292 00:14:37,240 --> 00:14:38,840 Speaker 1: will still be there, but it won't be as dramatic 293 00:14:38,880 --> 00:14:42,040 Speaker 1: if then if you had owned say four or five 294 00:14:42,080 --> 00:14:45,120 Speaker 1: different individual stocks. You know, it's going to give you 295 00:14:45,160 --> 00:14:48,520 Speaker 1: a lot more comfort. Absolutely, yeah, And you know I 296 00:14:48,560 --> 00:14:50,720 Speaker 1: couldn't agree more. I think, you know, I look at 297 00:14:50,760 --> 00:14:53,240 Speaker 1: one thousand dollars project share portfolio, which is worth I 298 00:14:53,280 --> 00:14:56,240 Speaker 1: think about three hundred and fifty thousand dollars now, wow, 299 00:14:56,480 --> 00:14:59,440 Speaker 1: And I'm so proud of that. Like, I really haven't 300 00:14:59,520 --> 00:15:01,560 Speaker 1: contributed that much over the last five years. It's just 301 00:15:01,640 --> 00:15:04,120 Speaker 1: really been as you say, you know, that compounding interest, 302 00:15:04,840 --> 00:15:09,320 Speaker 1: holding on, you know, reinvesting absolutely everything, but a good 303 00:15:09,400 --> 00:15:13,040 Speaker 1: forty percent is you know, good sixty to seventy percent 304 00:15:13,080 --> 00:15:17,240 Speaker 1: now is ETFs International ETFs and then listed investment companies. 305 00:15:17,800 --> 00:15:21,560 Speaker 1: They are really well diversified investment tool products that I've 306 00:15:21,640 --> 00:15:24,480 Speaker 1: used in the portfolio, so that don't feel overwhelmed as 307 00:15:24,480 --> 00:15:26,640 Speaker 1: to which stocks to pick and how much just to 308 00:15:26,720 --> 00:15:29,720 Speaker 1: invest in and when and all those sort of complicated decisions. 309 00:15:29,720 --> 00:15:32,240 Speaker 1: They're all taken care of my farm manager. It's there 310 00:15:32,280 --> 00:15:34,280 Speaker 1: and for anyone listening right now, I think, Okay, I 311 00:15:34,280 --> 00:15:36,680 Speaker 1: want to build a share portfolio. Don't know what companies, 312 00:15:36,760 --> 00:15:39,600 Speaker 1: don't try and pick it. As Michael said, go straight 313 00:15:39,640 --> 00:15:43,880 Speaker 1: to listed investment company or an ETF. You've got access 314 00:15:43,920 --> 00:15:48,040 Speaker 1: to say two hundred different companies across multiple different industries. 315 00:15:48,520 --> 00:15:51,400 Speaker 1: So that will help smooth out that volatility over the 316 00:15:51,440 --> 00:15:55,880 Speaker 1: long run. When it comes to people who don't invest, 317 00:15:56,160 --> 00:15:59,080 Speaker 1: people who just sit on the fence, you know, or 318 00:15:59,200 --> 00:16:03,480 Speaker 1: just refuse. What do you see is the biggest misconceptional 319 00:16:03,760 --> 00:16:08,960 Speaker 1: myth that is just blatantly obvious, that's just factually incorrect 320 00:16:09,000 --> 00:16:10,440 Speaker 1: and holding them back in life. 321 00:16:10,960 --> 00:16:13,080 Speaker 2: Well, we've touched on the biggest one, and that is 322 00:16:13,120 --> 00:16:15,920 Speaker 2: I don't have enough money to invest, And the reality 323 00:16:16,000 --> 00:16:18,880 Speaker 2: is you can start with one thousand dollars, you know, 324 00:16:18,920 --> 00:16:21,720 Speaker 2: that would be a great place to start. And even 325 00:16:21,800 --> 00:16:25,560 Speaker 2: the ASX rules around investment, say five hundred dollars, so 326 00:16:25,600 --> 00:16:28,640 Speaker 2: you could definitely do that. So not having enough money 327 00:16:28,720 --> 00:16:30,880 Speaker 2: is one of the big myths. But the other big 328 00:16:30,920 --> 00:16:32,760 Speaker 2: myth is I don't have the time. 329 00:16:33,160 --> 00:16:34,040 Speaker 3: The reality I. 330 00:16:34,120 --> 00:16:36,200 Speaker 1: Tell you this so interesting is such a good one. Yeah. 331 00:16:36,440 --> 00:16:40,040 Speaker 2: As a professional, I tell you my hardest job is 332 00:16:40,080 --> 00:16:44,080 Speaker 2: restraining myself. It's stopping myself from doing trades. I have 333 00:16:44,200 --> 00:16:48,920 Speaker 2: too much time. Right, that's dangerous as well, exactly, And 334 00:16:48,960 --> 00:16:51,640 Speaker 2: if you don't use discipline in those sorts of scenarios, 335 00:16:51,680 --> 00:16:53,920 Speaker 2: you can create all sorts of problems for yourself. So 336 00:16:54,080 --> 00:16:54,800 Speaker 2: staying out of me. 337 00:16:55,000 --> 00:16:58,000 Speaker 1: Something that's already so don't fix something, isn't it saying 338 00:16:58,040 --> 00:17:00,400 Speaker 1: that goes don't fix it it's broken. Yeah, that's that's 339 00:17:00,440 --> 00:17:01,840 Speaker 1: why that's yours. 340 00:17:01,920 --> 00:17:05,720 Speaker 2: Probably well it is so it doesn't take a lot 341 00:17:05,760 --> 00:17:08,520 Speaker 2: of time to invest. Well, the time that counts is 342 00:17:08,520 --> 00:17:10,240 Speaker 2: the time you're in the market, not the time you 343 00:17:10,280 --> 00:17:13,520 Speaker 2: take selecting your investments. So I'm not saying don't connect care. 344 00:17:13,560 --> 00:17:15,240 Speaker 2: Of course you should take care. And if you're investing 345 00:17:15,280 --> 00:17:17,760 Speaker 2: on ETF, you should understand what that ETF does and 346 00:17:17,800 --> 00:17:20,040 Speaker 2: no important things like what the internal fees are. 347 00:17:20,200 --> 00:17:21,800 Speaker 3: Right, you can look at loose up on. 348 00:17:21,760 --> 00:17:24,679 Speaker 2: The moomoo platform. But you should know what you're investing in. 349 00:17:24,720 --> 00:17:26,920 Speaker 2: But at the same time, you don't have to know everything, 350 00:17:27,320 --> 00:17:29,560 Speaker 2: and you don't have to spend hours. 351 00:17:29,200 --> 00:17:31,000 Speaker 3: A day like a lot of other people. 352 00:17:31,000 --> 00:17:33,280 Speaker 2: I run my own self Manag's super fun and I 353 00:17:33,400 --> 00:17:36,320 Speaker 2: spend two or three hours a month on it. 354 00:17:36,640 --> 00:17:37,000 Speaker 3: Wow. 355 00:17:37,119 --> 00:17:40,680 Speaker 2: Yeah, and maybe doing two or three transactions. 356 00:17:42,080 --> 00:17:42,280 Speaker 1: Yeah. 357 00:17:42,560 --> 00:17:45,240 Speaker 2: And as I say, the hardest part of it for 358 00:17:45,320 --> 00:17:48,400 Speaker 2: me is not doing a dozen transactions because I feel. 359 00:17:48,280 --> 00:17:50,240 Speaker 1: Like it so bored. 360 00:17:50,720 --> 00:17:53,840 Speaker 2: So another great myth. You don't need a whole lot 361 00:17:53,880 --> 00:17:56,280 Speaker 2: of time. You do have the time to invest successfully. 362 00:17:56,359 --> 00:17:58,600 Speaker 1: You know. That's the great thing about mumu is it's 363 00:17:58,640 --> 00:18:01,919 Speaker 1: an app you can be on the bus using the 364 00:18:02,240 --> 00:18:05,760 Speaker 1: free tools, you know, the educational tools, the videos of tutorials, 365 00:18:06,240 --> 00:18:10,280 Speaker 1: learning about what ETFs are, learning about passive investing, learning 366 00:18:10,280 --> 00:18:12,960 Speaker 1: about DIVD and reinvestment. There's just so many amazing free 367 00:18:13,200 --> 00:18:16,920 Speaker 1: videos within the app alone. It doesn't actually take much 368 00:18:16,920 --> 00:18:19,080 Speaker 1: time to get started, and it doesn't make take much 369 00:18:19,080 --> 00:18:21,439 Speaker 1: time to actually educate on the goal. You've literally got 370 00:18:21,520 --> 00:18:25,080 Speaker 1: a financial advisor or a stockbroker in your pocket walking 371 00:18:25,119 --> 00:18:25,879 Speaker 1: around everywhere with you. 372 00:18:26,160 --> 00:18:28,320 Speaker 2: Obviously, we have to be very careful around the idea 373 00:18:28,359 --> 00:18:28,960 Speaker 2: of giving advice. 374 00:18:29,200 --> 00:18:30,280 Speaker 3: That's your advice, But what. 375 00:18:30,200 --> 00:18:32,359 Speaker 1: We give education to help people make their own decision. 376 00:18:32,400 --> 00:18:36,360 Speaker 2: Yes, the information and market education very important aspects to it, 377 00:18:36,600 --> 00:18:40,160 Speaker 2: and we use things like artificial intelligence to make sure 378 00:18:40,480 --> 00:18:42,880 Speaker 2: that we're putting the right sort of information in front 379 00:18:42,880 --> 00:18:44,560 Speaker 2: of customers at the time when they need it. 380 00:18:44,720 --> 00:18:46,080 Speaker 1: Well, that's what I really want to talk to you 381 00:18:46,080 --> 00:18:49,440 Speaker 1: about is AI because you know a lot of people 382 00:18:49,520 --> 00:18:52,440 Speaker 1: are very worried about their job security and you know 383 00:18:53,040 --> 00:18:54,040 Speaker 1: what can they fall back on? 384 00:18:54,040 --> 00:18:54,080 Speaker 2: It? 385 00:18:54,119 --> 00:18:56,040 Speaker 1: And for me, I think that's such a great catalyst 386 00:18:56,119 --> 00:18:58,919 Speaker 1: to actually up the ante with your investing and not 387 00:18:58,960 --> 00:19:01,960 Speaker 1: be reliant one hundred percent on your physical day to 388 00:19:02,000 --> 00:19:05,680 Speaker 1: day job. But having other for source I can't speak today, 389 00:19:05,960 --> 00:19:09,439 Speaker 1: having other sources and forms of passive income to support you. 390 00:19:09,800 --> 00:19:13,280 Speaker 1: This is where actually AI are blessing in disguise in 391 00:19:13,280 --> 00:19:16,480 Speaker 1: this particular conversation, because it can help you make more informed, 392 00:19:16,600 --> 00:19:20,679 Speaker 1: educated investment decisions. And I know mumum is very different, 393 00:19:20,680 --> 00:19:23,920 Speaker 1: it's built differently and it uses a lot of AI. 394 00:19:24,520 --> 00:19:28,040 Speaker 1: Can you explain what Mumu has created and how it 395 00:19:28,080 --> 00:19:28,960 Speaker 1: incorporates AI? 396 00:19:29,320 --> 00:19:29,560 Speaker 3: Sure? 397 00:19:29,720 --> 00:19:32,040 Speaker 2: Well, first of all, I'd like to congratulate whoever tramped 398 00:19:32,119 --> 00:19:35,679 Speaker 2: up the term artificial intelligence because it's vivid, and in 399 00:19:35,720 --> 00:19:38,960 Speaker 2: my mind it creates images of killer robots and the 400 00:19:39,000 --> 00:19:42,760 Speaker 2: machines taking over the human world. But that's not what 401 00:19:42,840 --> 00:19:46,080 Speaker 2: AI is at all. AI is just the use of algorithms. 402 00:19:46,160 --> 00:19:50,240 Speaker 2: It's just mathematical equations coded in a computer that do 403 00:19:50,359 --> 00:19:53,080 Speaker 2: jobs for you. They're just tools, right, So they're not 404 00:19:53,119 --> 00:19:57,080 Speaker 2: as scary as that title sounds, but they are very 405 00:19:57,119 --> 00:19:59,439 Speaker 2: powerful tools. And because we've been developing them for. 406 00:19:59,400 --> 00:20:00,920 Speaker 3: A long time, ALI is not new. 407 00:20:01,280 --> 00:20:03,800 Speaker 2: I started my first expiration of what was then called 408 00:20:03,880 --> 00:20:07,240 Speaker 2: black box trading back in the nineties, right, So these 409 00:20:07,280 --> 00:20:09,200 Speaker 2: ideas have been around for a long time. But because 410 00:20:09,240 --> 00:20:10,800 Speaker 2: they've been around for a long time, we've been able 411 00:20:10,840 --> 00:20:13,840 Speaker 2: to develop them further, and we've been able to refine 412 00:20:13,880 --> 00:20:17,360 Speaker 2: them so that now the algorithms do a whole lot 413 00:20:17,400 --> 00:20:19,560 Speaker 2: of jobs for us that in the past took a 414 00:20:19,600 --> 00:20:21,399 Speaker 2: lot of time or a lot of effort, or we 415 00:20:21,440 --> 00:20:23,200 Speaker 2: simply couldn't get the information. 416 00:20:22,840 --> 00:20:26,040 Speaker 1: For So AI is there to help us be far 417 00:20:26,080 --> 00:20:28,080 Speaker 1: more efficient in our wealth creation journey. 418 00:20:28,280 --> 00:20:31,040 Speaker 2: Absolutely, And to just give you one example, we use 419 00:20:31,080 --> 00:20:36,320 Speaker 2: AI and the Moomoo platform to analyze and synthesize earnings 420 00:20:36,320 --> 00:20:39,760 Speaker 2: reports as they're being released stop it. So when in 421 00:20:39,920 --> 00:20:43,280 Speaker 2: Vidia comes out, the big semiconductive manufacturer comes out with 422 00:20:43,400 --> 00:20:47,520 Speaker 2: their quarterly earnings report, we monitoring as it's being released, 423 00:20:47,880 --> 00:20:51,320 Speaker 2: and within minutes, we've got a summary of that release 424 00:20:51,760 --> 00:20:54,640 Speaker 2: in the column under in Vidia in your stock portfolio 425 00:20:54,720 --> 00:20:58,360 Speaker 2: on the Moomoo platform. So you can immediately access an 426 00:20:58,400 --> 00:21:02,240 Speaker 2: analysis of their earnings report within minutes of it being released. 427 00:21:02,280 --> 00:21:05,360 Speaker 2: And that's how it delivers the information you need at 428 00:21:05,400 --> 00:21:06,360 Speaker 2: the time you need. 429 00:21:06,200 --> 00:21:07,560 Speaker 1: It, like breaking news. 430 00:21:07,760 --> 00:21:08,080 Speaker 3: Yes. 431 00:21:08,320 --> 00:21:11,080 Speaker 1: Wow. Can we then talk about the actual tools within 432 00:21:11,200 --> 00:21:14,199 Speaker 1: moo because there are so many different tools and they 433 00:21:14,200 --> 00:21:17,760 Speaker 1: are all free within the Moomoo app. And I remember 434 00:21:17,880 --> 00:21:20,600 Speaker 1: when I first got into investing, and you know what 435 00:21:20,760 --> 00:21:22,440 Speaker 1: my first passive shows. I had to do the old 436 00:21:22,440 --> 00:21:24,280 Speaker 1: school way. I had to call up a stockbroker, and 437 00:21:24,400 --> 00:21:26,960 Speaker 1: I think I paid a fortune in brokerage. It's so 438 00:21:27,040 --> 00:21:30,480 Speaker 1: different now. There are so many more tools available to 439 00:21:30,640 --> 00:21:33,520 Speaker 1: just the everyday investor. It's not just reserve for the 440 00:21:33,680 --> 00:21:38,320 Speaker 1: rich or the sophisticated or the professionals. What tools would 441 00:21:38,359 --> 00:21:41,320 Speaker 1: you recommend people start with and go to first and 442 00:21:41,359 --> 00:21:42,399 Speaker 1: then continue on with. 443 00:21:42,600 --> 00:21:45,520 Speaker 3: I'd start with a caveat. Nobody uses all the tools. 444 00:21:45,720 --> 00:21:48,200 Speaker 1: Okay, that's the thing about it. I'm glad you said that, actually, 445 00:21:48,200 --> 00:21:50,200 Speaker 1: because there are so many of them in there. 446 00:21:50,480 --> 00:21:53,440 Speaker 2: Exactly, and although I've been trading for more than thirty years, 447 00:21:53,480 --> 00:21:53,960 Speaker 2: I don't. 448 00:21:53,840 --> 00:21:54,639 Speaker 3: Use all the tools. 449 00:21:54,880 --> 00:21:58,479 Speaker 2: Nobody does because there are different styles and different goals, 450 00:21:58,480 --> 00:22:01,480 Speaker 2: different aims, different ways of different ways of being successful 451 00:22:01,520 --> 00:22:04,720 Speaker 2: in the market. We provide all the tools that people 452 00:22:04,880 --> 00:22:07,680 Speaker 2: might want to use, but nobody, as I say, users 453 00:22:07,680 --> 00:22:09,440 Speaker 2: the more and you don't have to know them all. 454 00:22:09,640 --> 00:22:11,720 Speaker 2: Investing is really quite straightforward. 455 00:22:11,800 --> 00:22:15,040 Speaker 3: You buy, you hold yourself. It's very straightforward. 456 00:22:15,240 --> 00:22:17,239 Speaker 2: So keep in mind that what we're trying to do 457 00:22:17,320 --> 00:22:20,840 Speaker 2: is quite simple, and then choose the tools. Now, for 458 00:22:20,960 --> 00:22:24,040 Speaker 2: somebody who's new to investing, the thing to do might 459 00:22:24,080 --> 00:22:27,239 Speaker 2: be to go to the ETF section and use the 460 00:22:27,280 --> 00:22:30,600 Speaker 2: filters there to start looking at different kinds of ETFs. 461 00:22:30,720 --> 00:22:32,240 Speaker 1: What would you put into the filters to try and 462 00:22:32,280 --> 00:22:34,159 Speaker 1: narrow down would you be saying, okay, I want an 463 00:22:34,200 --> 00:22:35,560 Speaker 1: Australian based ETF. 464 00:22:35,840 --> 00:22:38,320 Speaker 2: That's exactly the sort of thing which exchange is being 465 00:22:38,320 --> 00:22:40,320 Speaker 2: traded on. That might be one of the first things 466 00:22:40,359 --> 00:22:40,720 Speaker 2: you check. 467 00:22:41,119 --> 00:22:43,880 Speaker 1: Can you even filter things like you know, income growth. 468 00:22:44,280 --> 00:22:47,520 Speaker 2: Absolutely they're investment themes. So you can go to the 469 00:22:47,520 --> 00:22:50,480 Speaker 2: ETF section in the moon Mill app and click on 470 00:22:50,600 --> 00:22:52,840 Speaker 2: investment Themes, and then you'll see a list of more 471 00:22:52,840 --> 00:22:56,480 Speaker 2: than fifty different themes, including income generation, but also things 472 00:22:56,600 --> 00:23:00,479 Speaker 2: like artificial intelligence itself. Or perhaps you're more interested in 473 00:23:00,480 --> 00:23:03,440 Speaker 2: investing in pharmaceutical companies at the moment with the big 474 00:23:03,440 --> 00:23:05,960 Speaker 2: news out of the US, so you'll find ETFs that 475 00:23:06,040 --> 00:23:08,920 Speaker 2: suit many, many different investment themes and sectors. 476 00:23:09,160 --> 00:23:10,800 Speaker 1: Right, I'm going to totally put you on the spot. 477 00:23:11,240 --> 00:23:14,680 Speaker 1: A lot of my followers are mad fans of Peter Thornhill, 478 00:23:14,720 --> 00:23:18,600 Speaker 1: who wrote Motivated Money, and his philosophy is very much 479 00:23:18,640 --> 00:23:21,200 Speaker 1: listed investment companies long term by a hold very similar 480 00:23:21,240 --> 00:23:24,560 Speaker 1: to mine. He doesn't like ETFs, but he loves licks. 481 00:23:25,080 --> 00:23:30,000 Speaker 1: How would someone help use the Mumu filters to help 482 00:23:30,040 --> 00:23:32,920 Speaker 1: find the best lick? What would they be searching through 483 00:23:32,920 --> 00:23:35,919 Speaker 1: those filters to help narrate them down to say, the 484 00:23:35,960 --> 00:23:38,240 Speaker 1: top three licks that might be appropriate for them to 485 00:23:38,280 --> 00:23:39,400 Speaker 1: consider investing it. 486 00:23:39,480 --> 00:23:42,160 Speaker 2: So past performance is not a guide future performance, of course. 487 00:23:42,440 --> 00:23:44,160 Speaker 2: Having said that, a lot of investors do. 488 00:23:44,200 --> 00:23:45,359 Speaker 3: Look at the track record. 489 00:23:45,520 --> 00:23:47,439 Speaker 1: Well, I want to see the consistency, which is a 490 00:23:47,480 --> 00:23:49,320 Speaker 1: helpful indicator, and. 491 00:23:49,640 --> 00:23:50,800 Speaker 3: I would agree with that too. 492 00:23:51,000 --> 00:23:53,760 Speaker 2: So the platform is built to be quite intuitive, so 493 00:23:54,000 --> 00:23:56,320 Speaker 2: I would suggest starting that one by putting in LIC 494 00:23:56,600 --> 00:23:59,480 Speaker 2: into the search bar and then following the prompts from there, 495 00:23:59,480 --> 00:24:01,760 Speaker 2: and that'll take to the section that looks at licks. 496 00:24:02,280 --> 00:24:04,760 Speaker 2: You can then filter further if you wish, suggest for 497 00:24:04,760 --> 00:24:08,400 Speaker 2: a link. The underlining portfolio or the goal is very important, 498 00:24:08,440 --> 00:24:12,240 Speaker 2: and we touched on before the difference between active investing 499 00:24:12,440 --> 00:24:13,600 Speaker 2: and passive investing. 500 00:24:14,000 --> 00:24:14,280 Speaker 3: Now. 501 00:24:14,400 --> 00:24:18,440 Speaker 2: An index ETF, for example, is an example of passive investment. 502 00:24:18,520 --> 00:24:21,760 Speaker 2: Whereas a lot of the LICs have an active investor, 503 00:24:21,800 --> 00:24:24,560 Speaker 2: they have a fund manager style or a chief investment 504 00:24:24,560 --> 00:24:28,760 Speaker 2: officer who's making decisions and changing the portfolio in response 505 00:24:28,800 --> 00:24:31,680 Speaker 2: to changes in the market. So a lot of people 506 00:24:31,720 --> 00:24:35,320 Speaker 2: then focus on those particular managers to determine whether or 507 00:24:35,359 --> 00:24:37,159 Speaker 2: not they think they have a good track record and 508 00:24:37,200 --> 00:24:39,600 Speaker 2: whether they'd like to back them to invest in the 509 00:24:39,640 --> 00:24:42,560 Speaker 2: future on their behalf. So they're the sorts of things. 510 00:24:42,600 --> 00:24:44,879 Speaker 2: They look at the track record. You can see that 511 00:24:44,960 --> 00:24:47,680 Speaker 2: in the performance of the share price itself, generally speaking, 512 00:24:48,080 --> 00:24:50,720 Speaker 2: has it beaten the market or has it done less 513 00:24:50,720 --> 00:24:53,479 Speaker 2: well than the market. That's an important consideration because if 514 00:24:53,480 --> 00:24:56,680 Speaker 2: you're paying fees to a manager and they're doing less 515 00:24:56,720 --> 00:24:59,639 Speaker 2: well than just an index investment, that might not be 516 00:24:59,640 --> 00:25:01,640 Speaker 2: worth it involved in. On the other hand, if they're 517 00:25:01,640 --> 00:25:04,760 Speaker 2: doing better than the index, then that might be worth paying. 518 00:25:04,480 --> 00:25:06,800 Speaker 3: The fees for. So these are the sorts of. 519 00:25:06,720 --> 00:25:08,640 Speaker 2: Things people might look at when they're looking at an 520 00:25:08,720 --> 00:25:12,240 Speaker 2: l C. I must say Australia's had ICs for a 521 00:25:12,240 --> 00:25:14,400 Speaker 2: long time. The first one was started by JB. We're 522 00:25:14,480 --> 00:25:18,440 Speaker 2: in the nineteen seventies. Oh wow, yeah, so AFIC is 523 00:25:18,480 --> 00:25:21,800 Speaker 2: the name of the Australian Foundation Investment Company. But there 524 00:25:21,840 --> 00:25:25,199 Speaker 2: aren't as many ICs on the Australian market as there 525 00:25:25,240 --> 00:25:28,440 Speaker 2: are international markets. And this has to do with technical 526 00:25:28,480 --> 00:25:31,959 Speaker 2: aspects around the tax and the structuring. We don't need 527 00:25:32,000 --> 00:25:32,720 Speaker 2: to go into. 528 00:25:32,520 --> 00:25:34,480 Speaker 1: That to sleep. 529 00:25:34,520 --> 00:25:39,439 Speaker 2: I'm not sure how Peter sees things, but we are 530 00:25:39,480 --> 00:25:41,920 Speaker 2: seeing more active ETFs, and I don't know if that's 531 00:25:41,960 --> 00:25:45,200 Speaker 2: his criteria for not liking ETFs, that they're passive rather 532 00:25:45,240 --> 00:25:49,280 Speaker 2: than active. But if that's the criteria, then active ETFs 533 00:25:49,280 --> 00:25:51,760 Speaker 2: are actually coming to Australia. There was three listed this 534 00:25:51,800 --> 00:25:53,360 Speaker 2: week on the Australian Stock Exchange. 535 00:25:53,720 --> 00:25:55,800 Speaker 1: I have noticed that the trend and I did actually 536 00:25:55,840 --> 00:25:58,480 Speaker 1: read a report about you know, people wanting more active 537 00:25:58,520 --> 00:26:03,440 Speaker 1: investors Experience Investor. What would you say your top three 538 00:26:03,680 --> 00:26:07,240 Speaker 1: favorite tools within the movie app that help you make 539 00:26:07,600 --> 00:26:08,760 Speaker 1: your investment decisions. 540 00:26:09,280 --> 00:26:10,360 Speaker 3: I use the charts a lot. 541 00:26:10,720 --> 00:26:13,280 Speaker 2: I want to see where people made decisions in the 542 00:26:13,320 --> 00:26:16,160 Speaker 2: past because that helps me take a view on where 543 00:26:16,160 --> 00:26:18,960 Speaker 2: they might make what price levels they might make decisions 544 00:26:18,960 --> 00:26:21,240 Speaker 2: in the future. To give you an example, I'm looking 545 00:26:21,280 --> 00:26:24,520 Speaker 2: at the Nvidia chart today. Now I know your listeners 546 00:26:24,560 --> 00:26:26,399 Speaker 2: will perhaps be coming back to this, but for the 547 00:26:26,520 --> 00:26:29,280 Speaker 2: last three four weeks, it's been trading in a sideways 548 00:26:29,400 --> 00:26:31,320 Speaker 2: range and at the top of that range was a 549 00:26:31,320 --> 00:26:33,840 Speaker 2: price level one hundred and eighty four fifty. Now in 550 00:26:33,840 --> 00:26:36,400 Speaker 2: the last two days it's closed above that level. These 551 00:26:36,400 --> 00:26:39,200 Speaker 2: are all time highs for Nvidia, and that break through 552 00:26:39,240 --> 00:26:42,480 Speaker 2: the previous all time high and a level of resistance 553 00:26:42,920 --> 00:26:45,359 Speaker 2: is a clear sign to me and that's something that 554 00:26:45,400 --> 00:26:49,240 Speaker 2: I will buy. I use very simple chart analysis to 555 00:26:49,480 --> 00:26:53,040 Speaker 2: understand how a share price is behaving. I think of 556 00:26:53,080 --> 00:26:56,680 Speaker 2: them as organic and so if I look at their 557 00:26:56,720 --> 00:26:59,239 Speaker 2: behavior to understand what they might be doing and what 558 00:26:59,280 --> 00:27:02,080 Speaker 2: they might do in the future. So the charts number one, 559 00:27:02,200 --> 00:27:04,760 Speaker 2: my number one tool. Second tool I use a lot 560 00:27:04,920 --> 00:27:08,080 Speaker 2: is the financial analysis. So when I'm looking at an 561 00:27:08,160 --> 00:27:11,160 Speaker 2: individual company, I pull up the chart and the next 562 00:27:11,160 --> 00:27:13,800 Speaker 2: thing I do is I go to the financial analysis 563 00:27:13,800 --> 00:27:15,959 Speaker 2: and I look at the income statement. Now I've been 564 00:27:15,960 --> 00:27:17,440 Speaker 2: looking at these sorts of things for a long time. 565 00:27:17,520 --> 00:27:19,479 Speaker 2: Cand of that's easy for me to do. That's not 566 00:27:19,560 --> 00:27:22,040 Speaker 2: something everybody's going to use, but these are my tools, 567 00:27:22,400 --> 00:27:23,240 Speaker 2: not everybody else is. 568 00:27:23,560 --> 00:27:26,120 Speaker 1: We have a wide range of driven a level of mesters, 569 00:27:26,119 --> 00:27:30,000 Speaker 1: so I think there's more experienced ones we'll find exactally fascinating, 570 00:27:30,000 --> 00:27:32,840 Speaker 1: including myself, So please keep going, don't hold back. 571 00:27:33,000 --> 00:27:35,840 Speaker 2: Well, my current favorite and third on my list here 572 00:27:36,280 --> 00:27:37,760 Speaker 2: is the AI chatbot. 573 00:27:37,440 --> 00:27:39,840 Speaker 1: We have stop it. I don't know about it. 574 00:27:39,920 --> 00:27:43,199 Speaker 3: So now it's fairly new Canada. You might not have 575 00:27:43,280 --> 00:27:44,000 Speaker 3: had a chance. 576 00:27:43,800 --> 00:27:45,679 Speaker 2: To have a look at it, but but it appears 577 00:27:45,720 --> 00:27:48,080 Speaker 2: as a little icon on most of the pages either 578 00:27:48,400 --> 00:27:50,440 Speaker 2: in the phone app. I like to use the desktop 579 00:27:50,520 --> 00:27:54,560 Speaker 2: app because I'm a bit old school, but the chatbots 580 00:27:54,600 --> 00:27:57,159 Speaker 2: in both and you can ask it anything you like 581 00:27:57,440 --> 00:27:59,160 Speaker 2: and it'll give you an answer. 582 00:28:00,359 --> 00:28:02,600 Speaker 1: No, and so give me an example. 583 00:28:02,640 --> 00:28:04,600 Speaker 2: It saves me a lot of time, So what's the 584 00:28:04,640 --> 00:28:09,120 Speaker 2: best performing ETF in US trading overnight. I'll simply ask 585 00:28:09,160 --> 00:28:11,199 Speaker 2: it that and it will go through, and I can 586 00:28:11,240 --> 00:28:14,320 Speaker 2: then refine that, Okay, only show me ETFs that invest 587 00:28:14,320 --> 00:28:17,400 Speaker 2: in bonds, and I can then work my way down 588 00:28:17,440 --> 00:28:20,040 Speaker 2: to find whatever it is that I'm looking for. And 589 00:28:20,119 --> 00:28:22,159 Speaker 2: sometimes I don't know what I'm looking for, but I 590 00:28:22,200 --> 00:28:26,159 Speaker 2: ask chat GBT. I asked chatbot to do something, and bang, 591 00:28:26,560 --> 00:28:29,040 Speaker 2: it comes up with an answer that prompts me to think, oh, 592 00:28:29,160 --> 00:28:31,320 Speaker 2: hang on. That then prompts the next question, which leads 593 00:28:31,320 --> 00:28:32,400 Speaker 2: to an investment choice. 594 00:28:32,520 --> 00:28:35,040 Speaker 1: Can the chatbot analyze your portfolio? 595 00:28:35,160 --> 00:28:35,360 Speaker 3: Yes? 596 00:28:35,400 --> 00:28:36,959 Speaker 2: And no? Okay, yes it can. 597 00:28:37,119 --> 00:28:39,760 Speaker 1: He's not advice. But can it say, look, you're missing 598 00:28:40,080 --> 00:28:42,960 Speaker 1: exposure into these three sectors. 599 00:28:43,360 --> 00:28:46,640 Speaker 2: Yes, you could say that's a portfolio of these stocks 600 00:28:46,640 --> 00:28:50,080 Speaker 2: in these proportions. Please analyze it against this benchmark and 601 00:28:50,200 --> 00:28:52,760 Speaker 2: tell me what could change to get to that benchmark. 602 00:28:52,800 --> 00:28:55,680 Speaker 1: Could you say I have ten thousand dollars to invest 603 00:28:55,920 --> 00:28:58,240 Speaker 1: I'm a high growth investor, I want to invest in 604 00:28:58,360 --> 00:29:02,040 Speaker 1: Australian shares. I want to earn at least five hundred 605 00:29:02,040 --> 00:29:07,160 Speaker 1: dollars a year in dividends. Ideally, franked provide five different 606 00:29:07,200 --> 00:29:10,720 Speaker 1: ETFs that worthy of my time to research more of, 607 00:29:11,000 --> 00:29:11,840 Speaker 1: and it would list. 608 00:29:12,120 --> 00:29:15,040 Speaker 2: If you give it a specific goal like that, give 609 00:29:15,080 --> 00:29:16,920 Speaker 2: me five ETFs that will give it give me a 610 00:29:16,920 --> 00:29:17,480 Speaker 2: good dividend. 611 00:29:17,720 --> 00:29:18,880 Speaker 3: It will do exactly that. 612 00:29:19,120 --> 00:29:22,200 Speaker 2: What it won't do is advise you. If you simply said, 613 00:29:22,320 --> 00:29:24,920 Speaker 2: I want to earn ten percent on my ten thousand 614 00:29:24,960 --> 00:29:26,760 Speaker 2: dollars out of the next twelve months, what should I buy? 615 00:29:26,960 --> 00:29:29,520 Speaker 2: Oh yeah, it will give a much broader answer with 616 00:29:29,560 --> 00:29:31,600 Speaker 2: a lot of choices for you. But if you give 617 00:29:31,600 --> 00:29:34,920 Speaker 2: it your specific criteria, it'll go and find the answer 618 00:29:34,920 --> 00:29:35,160 Speaker 2: for you. 619 00:29:35,440 --> 00:29:37,800 Speaker 1: That is absolutely incredible. 620 00:29:37,960 --> 00:29:39,720 Speaker 2: That's why it's so powerful, and that's why it's my 621 00:29:39,880 --> 00:29:40,800 Speaker 2: current favorite tool. 622 00:29:40,880 --> 00:29:42,120 Speaker 3: It saves me so much time. 623 00:29:42,200 --> 00:29:44,239 Speaker 1: I want to put one thousand dollars project into this 624 00:29:44,320 --> 00:29:46,640 Speaker 1: chat butt and see what it says, because I do 625 00:29:46,760 --> 00:29:49,000 Speaker 1: know there are things I need to not sell. But 626 00:29:49,080 --> 00:29:52,000 Speaker 1: with new money, I want to add to the portfolio 627 00:29:52,160 --> 00:29:55,320 Speaker 1: and focus and hone in on particular areas, so interested 628 00:29:55,320 --> 00:29:57,080 Speaker 1: to see what happens when I put it in there, 629 00:29:57,120 --> 00:29:59,160 Speaker 1: so I might be giving you a call about that. 630 00:29:59,240 --> 00:30:00,680 Speaker 2: Please do it all right? 631 00:30:00,800 --> 00:30:03,960 Speaker 1: For anyone who is ready to get started and they've 632 00:30:03,960 --> 00:30:05,960 Speaker 1: decided they've done their research that looked all the different 633 00:30:06,000 --> 00:30:09,120 Speaker 1: online platforms for investing, and they go, okay, all right. 634 00:30:09,520 --> 00:30:11,840 Speaker 1: Moomoo's got a lot of tools that are of great 635 00:30:12,120 --> 00:30:15,080 Speaker 1: substance and help. Especially this chat pot can definitely help 636 00:30:15,120 --> 00:30:17,959 Speaker 1: someone get started. What would you recommend they do as 637 00:30:18,000 --> 00:30:20,840 Speaker 1: their first steps with moomoom. 638 00:30:20,280 --> 00:30:23,280 Speaker 2: The absolute best thing I think anyone ready to start 639 00:30:23,320 --> 00:30:25,400 Speaker 2: can do is to do some paper trading. 640 00:30:25,520 --> 00:30:27,160 Speaker 1: I'm so glad you said that. 641 00:30:27,400 --> 00:30:27,600 Speaker 3: Now. 642 00:30:27,640 --> 00:30:30,040 Speaker 2: Paper trading is exactly what it sounds like. You're just 643 00:30:30,080 --> 00:30:34,560 Speaker 2: trading on paper with virtual money. Nobody gets hurt, and 644 00:30:34,600 --> 00:30:37,800 Speaker 2: that's the beauty of it. It's great to learn how 645 00:30:37,840 --> 00:30:40,200 Speaker 2: to place a by trade, how to monitor your trades, 646 00:30:40,480 --> 00:30:42,240 Speaker 2: how to place the cell trade. It's great to learn 647 00:30:42,280 --> 00:30:45,160 Speaker 2: all of those things. But it's more powerful than that. 648 00:30:45,600 --> 00:30:48,680 Speaker 2: You can test out your ideas. So if you're thinking 649 00:30:48,720 --> 00:30:52,000 Speaker 2: that a portfolio of banks and mining stocks and a 650 00:30:52,000 --> 00:30:53,600 Speaker 2: couple of others might be the way for you to 651 00:30:53,720 --> 00:30:56,800 Speaker 2: start off, or you're thinking about a couple of ETFs 652 00:30:56,800 --> 00:31:00,880 Speaker 2: in combination at the core of your portfolio on paper, 653 00:31:00,920 --> 00:31:03,720 Speaker 2: buy them and see how it goes. And this is 654 00:31:04,560 --> 00:31:07,719 Speaker 2: great practice. You can test your thesis in the actual 655 00:31:07,720 --> 00:31:11,360 Speaker 2: market without putting anything at richk. The app's free, it 656 00:31:11,400 --> 00:31:14,040 Speaker 2: never expires, and you can play with the paper trading 657 00:31:14,080 --> 00:31:19,080 Speaker 2: module until you're comfortable with what you're doing. I would 658 00:31:19,120 --> 00:31:20,920 Speaker 2: warn against getting stuck in paper trading. 659 00:31:20,960 --> 00:31:23,920 Speaker 3: It is fascinating, but. 660 00:31:23,960 --> 00:31:26,080 Speaker 2: It's a stepping stone, and it's a good stepping stone 661 00:31:26,080 --> 00:31:29,960 Speaker 2: because the principles of successful trading are very simple. They're 662 00:31:29,960 --> 00:31:32,640 Speaker 2: so simple they can be expressed in four words. If 663 00:31:32,720 --> 00:31:36,320 Speaker 2: as a trader, you can run your winners and cut 664 00:31:36,360 --> 00:31:39,800 Speaker 2: your losses, you'll make money. It's guaranteed. Easy to say, 665 00:31:40,520 --> 00:31:43,920 Speaker 2: much harder to do, and that's why it's important to 666 00:31:44,000 --> 00:31:47,240 Speaker 2: practice before you get going, or it can be for 667 00:31:47,320 --> 00:31:52,720 Speaker 2: some people because the actual experience, the emotional component of 668 00:31:52,840 --> 00:31:56,120 Speaker 2: buying and selling sometimes overwhelms people and they make decisions 669 00:31:56,120 --> 00:31:59,360 Speaker 2: that are not optimal because they're overwhelmed by the emotional component. 670 00:31:59,440 --> 00:32:03,200 Speaker 2: So practicing on paper first helps people understand that part 671 00:32:03,200 --> 00:32:06,320 Speaker 2: of investing as well. So start with paper trading and 672 00:32:06,360 --> 00:32:08,400 Speaker 2: then get going with a small amount in the market. 673 00:32:08,720 --> 00:32:11,040 Speaker 1: I think that's such brilliant advice, and it's so great 674 00:32:11,080 --> 00:32:13,120 Speaker 1: to have that tool there because it really does make 675 00:32:13,200 --> 00:32:16,360 Speaker 1: people who are nervous feel a lot more comfortable, so 676 00:32:16,360 --> 00:32:18,280 Speaker 1: that when they do make their first trade, then it's 677 00:32:18,400 --> 00:32:20,600 Speaker 1: like a walk in the park. It always feels like organic. 678 00:32:21,160 --> 00:32:21,840 Speaker 3: Yes. Yeah. 679 00:32:21,960 --> 00:32:24,160 Speaker 1: As we wrap up today's episode, I wanted to just 680 00:32:24,200 --> 00:32:27,120 Speaker 1: ask a question about reviewing, because we've spoken so much 681 00:32:27,120 --> 00:32:29,840 Speaker 1: about getting started and in making those important steps to 682 00:32:30,120 --> 00:32:32,400 Speaker 1: invest the thousand dollars in the ETIR for the listed 683 00:32:32,400 --> 00:32:35,200 Speaker 1: investment company or picking your own individual stocks. How do 684 00:32:35,240 --> 00:32:39,240 Speaker 1: you recommend someone review their portfolio so that they don't 685 00:32:39,280 --> 00:32:41,360 Speaker 1: just do a once off trade and then forget about it, 686 00:32:41,680 --> 00:32:44,840 Speaker 1: but they actually continue on building their portfolio, They continue 687 00:32:44,920 --> 00:32:48,520 Speaker 1: on diversifying, continue on their financial journey, but also their 688 00:32:48,560 --> 00:32:50,400 Speaker 1: financial educational journey as well. 689 00:32:50,560 --> 00:32:55,120 Speaker 2: Almost every successful trader I've ever met journals. They're trading 690 00:32:55,400 --> 00:32:57,680 Speaker 2: just about everyone. Now, there are a few survives. 691 00:32:57,320 --> 00:33:00,720 Speaker 1: Okay, I mean talking pen and paper. I like in 692 00:33:00,760 --> 00:33:04,040 Speaker 1: a notebook, well, like a dear diary. Today I invest 693 00:33:04,080 --> 00:33:05,880 Speaker 1: a thousand dollars into Whitefield. 694 00:33:07,120 --> 00:33:10,080 Speaker 2: Well today I invest a thousand dollars into Whitefield. I 695 00:33:10,120 --> 00:33:13,480 Speaker 2: did it because the stairs price looked attractive to me 696 00:33:13,560 --> 00:33:16,120 Speaker 2: for these reasons. This is my thesis. This is how 697 00:33:16,120 --> 00:33:18,880 Speaker 2: I found out about it, and I decided to allocate 698 00:33:18,920 --> 00:33:21,760 Speaker 2: this much of my portfolio of the stock because right. 699 00:33:21,800 --> 00:33:25,480 Speaker 2: So recording all the reasons why you chose an investment, 700 00:33:25,840 --> 00:33:28,800 Speaker 2: and then when the investment goes well or it doesn't 701 00:33:29,200 --> 00:33:31,280 Speaker 2: and you come back to review it, you go back 702 00:33:31,280 --> 00:33:33,880 Speaker 2: and have a look at the decisions you made and 703 00:33:33,920 --> 00:33:36,320 Speaker 2: then work out where you were less strong. 704 00:33:36,800 --> 00:33:39,320 Speaker 1: And then you probably have to see a common theme 705 00:33:39,440 --> 00:33:41,960 Speaker 1: or trend that you tend to make good decisions when 706 00:33:42,000 --> 00:33:44,760 Speaker 1: you've done this analysis, or you've habits are making a 707 00:33:44,960 --> 00:33:47,720 Speaker 1: bad decision, that habits are making educated decisions. 708 00:33:47,480 --> 00:33:48,240 Speaker 3: Exactly right. 709 00:33:48,320 --> 00:33:50,800 Speaker 2: So if you record what you're doing and then go 710 00:33:50,880 --> 00:33:54,480 Speaker 2: back and review it, you will learn as an investor 711 00:33:54,480 --> 00:33:57,160 Speaker 2: and as a trader. And that's what makes the difference. 712 00:33:57,480 --> 00:33:59,880 Speaker 2: One of the things that new investors don't get is 713 00:34:00,200 --> 00:34:01,760 Speaker 2: that a lot of them think it's all about that 714 00:34:01,800 --> 00:34:04,760 Speaker 2: one trade, and they concentrate so much on the entry 715 00:34:05,480 --> 00:34:08,919 Speaker 2: at what price they buy at. The reality is it's 716 00:34:09,040 --> 00:34:12,239 Speaker 2: not about one trade at any time. It's about how 717 00:34:12,320 --> 00:34:15,040 Speaker 2: you trade, how you place, how you choose your investments, 718 00:34:15,200 --> 00:34:17,920 Speaker 2: how you enter them, how you hold them. Recording what 719 00:34:17,960 --> 00:34:20,840 Speaker 2: you're doing for your own review purposes is one of 720 00:34:20,840 --> 00:34:23,000 Speaker 2: the most powerful tools any investor can use. 721 00:34:23,200 --> 00:34:26,680 Speaker 1: Wow, you are such a source of knowledge and also 722 00:34:27,080 --> 00:34:30,400 Speaker 1: inspiration as well. Thank you so much obviously for sharing 723 00:34:30,400 --> 00:34:32,279 Speaker 1: absolutely everything. I'd love to get you back in again, 724 00:34:32,360 --> 00:34:34,840 Speaker 1: and I'd love to continue on picking your brain because 725 00:34:35,320 --> 00:34:37,560 Speaker 1: you know there is You've got so much valuable insight 726 00:34:37,640 --> 00:34:41,040 Speaker 1: obviously a huge amount of experience, and I really feel 727 00:34:41,040 --> 00:34:44,960 Speaker 1: like you are a great source of practical knowledge and 728 00:34:45,000 --> 00:34:47,560 Speaker 1: information to actually not just get started, but clearly to 729 00:34:47,680 --> 00:34:50,040 Speaker 1: keep going because you know, I want all the listeners 730 00:34:50,040 --> 00:34:51,759 Speaker 1: to start to invest. I want them to take their 731 00:34:51,800 --> 00:34:53,719 Speaker 1: investing journeys seriously, but I want them to see all 732 00:34:53,760 --> 00:34:56,479 Speaker 1: the benefits that come from investing and as you said, 733 00:34:56,520 --> 00:34:58,839 Speaker 1: sleeping well at night, you know, not having to worry 734 00:34:58,880 --> 00:35:01,560 Speaker 1: about AI taking your job because you've got ten different ETFs, 735 00:35:01,600 --> 00:35:04,880 Speaker 1: all this investment company is paying you regular dividends every 736 00:35:04,920 --> 00:35:07,800 Speaker 1: six months that help supplement your living expenses. And what 737 00:35:07,920 --> 00:35:09,960 Speaker 1: people do actually know that they have so much more 738 00:35:10,040 --> 00:35:12,759 Speaker 1: choice and they have so many free tools in front 739 00:35:12,800 --> 00:35:16,720 Speaker 1: of them to help them make really smart, intelligent, wise 740 00:35:16,880 --> 00:35:19,040 Speaker 1: financial decisions that they are going to serve their financial 741 00:35:19,160 --> 00:35:22,800 Speaker 1: journey and create that independence that we all really crave 742 00:35:22,920 --> 00:35:25,600 Speaker 1: right now. So thank you so much. Look for all 743 00:35:25,640 --> 00:35:27,920 Speaker 1: the listeners you know, I will obviously link all the 744 00:35:27,960 --> 00:35:30,600 Speaker 1: contact details at moomoo and of course the Moomoo app 745 00:35:30,600 --> 00:35:32,160 Speaker 1: if you'd like to down and load it and have 746 00:35:32,239 --> 00:35:33,840 Speaker 1: a look at it and test it out for yourself. 747 00:35:33,840 --> 00:35:36,520 Speaker 1: And huge thank you for Michael to coming in today 748 00:35:36,560 --> 00:35:38,920 Speaker 1: and obviously sharing his insights. And I really think that 749 00:35:38,960 --> 00:35:40,880 Speaker 1: this conversation that you've just listened to is going to 750 00:35:40,880 --> 00:35:44,600 Speaker 1: help you understand not only why investing really matters, but 751 00:35:45,239 --> 00:35:48,800 Speaker 1: how you can actually take that very important first step 752 00:35:49,080 --> 00:35:52,359 Speaker 1: with confidence and a bit of pride if I don't 753 00:35:52,400 --> 00:35:56,160 Speaker 1: say so so, my takeaways here are very simple. Investing 754 00:35:56,280 --> 00:36:01,280 Speaker 1: is not actually optional. It is now today for financial freedom, 755 00:36:01,400 --> 00:36:03,279 Speaker 1: you can't be just sitting in cash. You've got to 756 00:36:03,280 --> 00:36:06,240 Speaker 1: be looking at other options and getting your money working 757 00:36:06,320 --> 00:36:09,240 Speaker 1: for you. And if you're interested in building passive income 758 00:36:09,280 --> 00:36:12,800 Speaker 1: streams or closing that wealth gap that we are seeing 759 00:36:12,880 --> 00:36:15,600 Speaker 1: get bigger and bigger, or you want to look at 760 00:36:15,680 --> 00:36:18,160 Speaker 1: just simply protecting yourself in a world where jobs feel 761 00:36:18,239 --> 00:36:21,520 Speaker 1: like you know, they're less secure and they're more subject 762 00:36:21,600 --> 00:36:25,279 Speaker 1: to change and volatility, Investing is an option here for 763 00:36:25,360 --> 00:36:27,680 Speaker 1: you that can give you that choice and that long 764 00:36:27,800 --> 00:36:31,360 Speaker 1: term resilience, and of course you with platforms like moomoo, 765 00:36:32,120 --> 00:36:35,000 Speaker 1: every day investors like you and I now have access 766 00:36:35,040 --> 00:36:38,880 Speaker 1: to these incredible AI power tools, These chatbots that Michael 767 00:36:38,880 --> 00:36:42,439 Speaker 1: has just spoken about, and these professional insights and free 768 00:36:42,560 --> 00:36:46,120 Speaker 1: educational tools like the videos themselves I've watched are absolutely 769 00:36:46,120 --> 00:36:48,920 Speaker 1: brilliant and so easy to understand and follow. So if 770 00:36:48,920 --> 00:36:51,040 Speaker 1: you're ready to get started with investing, even with a 771 00:36:51,080 --> 00:36:53,200 Speaker 1: small amount, go and check out the Momo app for 772 00:36:53,280 --> 00:36:55,880 Speaker 1: yourself and have a look and see what we're talking about. 773 00:36:56,239 --> 00:36:58,680 Speaker 1: As I mentioned, the link will be in the show notes. 774 00:36:59,120 --> 00:37:02,240 Speaker 1: And as always, this this episode is obviously general information. 775 00:37:02,360 --> 00:37:05,080 Speaker 1: It is never personal or product advice, so please consider 776 00:37:05,080 --> 00:37:08,120 Speaker 1: your own circumstances and speak with a financial planner before 777 00:37:08,120 --> 00:37:11,840 Speaker 1: making any major decision. And thank you again for sponsoring 778 00:37:11,840 --> 00:37:15,000 Speaker 1: today's episode. I'll be checking back in with you on 779 00:37:15,160 --> 00:37:18,280 Speaker 1: Friday morning at five am for the Start Here mini 780 00:37:18,320 --> 00:37:23,040 Speaker 1: series on Sugar Mama's Fireplay. In the meantime, keep building 781 00:37:23,080 --> 00:37:27,080 Speaker 1: that path to financial independence and freedom. I believe in you, 782 00:37:27,400 --> 00:37:29,719 Speaker 1: and I believe in what you can build for yourself. 783 00:37:30,120 --> 00:37:58,400 Speaker 1: This is Sugar Mama's Fireplay.