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How Froomes is Investing to Make a Million Dollars

HOSTS Maddy Guest & Sophie Dicker|19 October, 2021

From a lockdown boredom idea of trying to double $500 in one week, to rolling a cryptocurrency wave, Lucinda Price (best known as Frooomes) has settled with the idea of investing money for the long term in order to reach millionaire status. Today we are getting another sneak peek into a first time investor’s portfolio. We delve into the insights of how she got started, where she sources her information and the assets that she will invest in. If you’re new to investing and need tips to get started, or are a veteran of stocks but just like a laugh, then this episode is for you.

Keep track of Sophie and Maddy between the episodes on Instagram, or on TikTok, and come and be part of the conversation on Facebook with our You’re In Good Company Discussion Group.

Got a question or a topic suggestion? Email us here

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Maddy: [00:00:19] Hello and welcome to You're in Good Company an investing podcast striving to disrupt the norms in the finance industry. I'm Maddy. And as always, I'm in very good company with my co-host Sophie. 

Sophie: [00:00:30] Hello, Mary. I'm very, very excited for today's episode. We are going to be talking to a community member about why she actually started investing and kind of like step by step through what she did as her process. But before we get into that, I've got another joke for you. 

Maddy: [00:00:45] Okay, here we go. 

Sophie: [00:00:47] What do you call a finance savvy fish bait? 

Maddy: [00:00:50] No, I've got nothing.

Sophie: [00:00:53] This doesn't really make sense, but a riverbank. 

Maddy: [00:00:55] Is it just because also a bank in it? Like, does that make it a money issue?

Sophie: [00:00:59] And like a river, you know, fishes, it'll make sense eventually. 

Maddy: [00:01:03] Before we get into today's episode, let's hear from a biologist, a community member. 

Community Member: [00:01:09] Hey, Maddy, and Soph, my name is Jemmy Lee, and I'm 22 years old for work. I'm a full time business development associate and I'm roughly earning over 4000 dollars per month around about since I started investing about a month and a half ago. I'm aiming to put around $3000 per quarter into my holdings. At the moment, I'm holding the one unit of the Ivy iShares S&P 500 ETF. Five units of the Exchange I shares Global Health Care ETF and four units into Macquarie Group Ltd. Today, the total value of my portfolio is roughly over one thousand eight hundred dollars, with a total cost of eighty dollars and 64 cents a minute for the long haul. So Canadian cases? Thanks, guys. 

Maddy: [00:01:48] So great to hear. Different money stories from different community members. And we have got another very special episode planned today because we are chatting to one of our community members who is actually a CEO. So about a month ago today, Lucinda Price, otherwise known as Froome's, say your firm's valid took to Instagram and said that she had been listening to YIGC and had 

Sophie: [00:02:12] decided to give herself a month to research. And then she would invest. So today, date of recording. She actually made her first investments. Our DMs were filled with questions from you guys and also followers of firms who they wanted to hear about her journey so far. So we are going to jump right in to all of that today. 

Maddy: [00:02:31] Lucinda is a writer, presenter, recording artist and comedian who has been labelled one of Australia's most exciting entertainers. Best known to us as Froome's CEO of firms, about at least has written an original song with no other than J Flip and Flume produced by fly facilities and at times has hinted to an upcoming book deal which will endeavour to find out more about on this show. She recently hosted the highly entertaining Froome's Rhode Island, a.k.a. her very own. Love Island has created her own original podcast, which is great, by the way, called Where or the Pigeons, and she has written for MTV Pedestrian alongside her weekly newsletter and as proud employees ourselves as friends about it is an honour to have you on the show today. Welcome, Lucinda.

Lucinda Price: [00:03:18] Thank you, Maddie. That was perfect. 

Maddy: [00:03:20] Sorry, I'm laughing so much because I think that's like the longest bio I've ever written for someone, but I just couldn't cut anything out.

Lucinda Price: [00:03:28] The longest bio for the most. What's it called? Not underdeveloped under skills. Under-qualified, under-qualified. I don't 

Maddy: [00:03:37] want to put that label, but 

Lucinda Price: [00:03:40] oh, thank you. 

Sophie: [00:03:41] We always start the episode in the same way so people can get to know you a little better. And our first question is, what's the best thing that's happened to you this week? 

Lucinda Price: [00:03:49] Oh, Freedom Day was the best part of my week. I went to Westfield Bondi Junction and got something from Glassons. That's my little treat. Went out for dinner, went out for lunch. It was really good. 

Maddy: [00:04:02] And if you could have it dine out with anyone, who would it be and why? 

Lucinda Price: [00:04:08] If I could have dinner with anyone, it would be hands down. Mike Myers. I am so obsessed with Mike Myers. I love him. He's my favourite actor of all time. 

Maddy: [00:04:18] Any favourite films? Austin Powers, of course. 

Lucinda Price: [00:04:22] Sigourney. But I also love Wayne's World and Wayne's World is a really big part of firms. While Genesis is Wayne's World branding the ethos. One of my something that always rings through my head when I'm working for firms well is like, we will never bow to any sponsors. Is this thing that he says in the show, and then he holds up a box from Pizza Hut. That is my ethos, 

Sophie: [00:04:48] pizza and martinis with him. So that would be a fabulous dinner. Our final question is if you could be a stock or a company. Who would you be and why? 

Lucinda Price: [00:04:59] For him to? Now, I would, you know, I would be Canberra.

Sophie: [00:05:04] Oh, good one. 

Lucinda Price: [00:05:06] Did people say that a lot? 

Maddy: [00:05:07] We've had it before. 

Sophie: [00:05:08] I think we had a lot of people actually reach out to us. When we re posted your story and people were asking, they really wanted to know, number one, what company you'd be. And number two, what would your ticker be for firms world if it listed on the ASX? 

Lucinda Price: [00:05:23] Oh, I see

Maddy: [00:05:29] So we are both very proud employees of firms, but as we said, but for those who haven't had the joy of discovering yet, can you explain what firms are, is and what your role is as CEO? 

Lucinda Price: [00:05:42] Of course. So Firm Side is a proprietary limited company on it's not yet on the ASX, but we definitely are one to watch company was what it is, is just my business being a sole trader, being a freelancer in the media. I didn't want to be considered. I actually don't like the title freelancer because I think it makes out like you're like doing whatever people want you to do and you're just like bringing things in and doing them. Whereas my approach to my career is branding it like a business to always looking for new things to do, always diversifying. And such a big part of it is bringing my employees along for the ride and I. The concept of calling people followers just is so weird to me, but I know that's why I prefer the term employees because I get something from everyone, because I always ask people, question in polls and stuff like that, and that's work to reply. So you're all employees. Love it. 

Maddy: [00:06:43] We are going to get into a game to get us started today, and the game is called Battle of the Influencers. So I thought I would test sort of both of your strengths and just make sure that you know you're both the experts in your respective fields, as I think you both should be. So this is a guessing game where we try and determine who has the greater influence. I'm going to alternate between famous people and you have to guess who has more social media followers or I guess, employees and which company has the highest share price. So battle of the influencers, I'm going to start off with our stocks. So which has a higher stock price, Motorola or BlackBerry? 

Lucinda Price: [00:07:25] I'm going to go for Motorola because in my mind, BlackBerry had one product, which was that one with the mini keyboard, whereas I'm pretty sure Motorola had heaps that they were like the iPhone over that period. I could be getting it wrong, but that's my guess.

Maddy: [00:07:41] Hmm, interesting. So thoughts, I 

Sophie: [00:07:44] might just go for the opposite and go BlackBerry. I haven't heard of the company Motorola, literally since I had a flip phone. So that's like a good what, 10 years ago. But I'm scared of being wrong. 

Maddy: [00:07:56] Nemo. Interesting. Motorola is up 33 percent this year at three hundred and twenty six dollars vs. BlackBerry. $12 good. 

Lucinda Price: [00:08:07] Why is it going up? 

Maddy: [00:08:08] I think Motorola is going up because of sales. They're selling something not 100 percent sure what it is. All right. Next up, we have two or three actually of the men in Fern's life. So the first one is big, twisty friend of inspired, unemployed and famous for, I think, made famous by live date with friends, right? 

Lucinda Price: [00:08:33] Absolutely. I'll take all the credit. 

Maddy: [00:08:36] The other one is our good friends. Equity Mates. Who do you think has more followers? Big, twisty or Equity Mates? Sorry, if let's hear from them. 

Sophie: [00:08:44] I'd probably go with Big Twisty because he's over lockdown. He was such good in entertainment, not saying that the Equity Mates boys aren't, but he is. He's dancing, you know, really got me through lockdown. And yeah, because firms that I've dealt with him, I just feel like I had to follow him, you know?

Lucinda Price: [00:09:02] I reckon, are you going across all social media or just Instagram? Instagram Big, twisty. Sorry, boys. 

Maddy: [00:09:09] Yeah. Bryce correct. It's pretty close, though. Big has 25 K and the boys have 20 now, so not far between all and next companies. But you have got AstraZeneca or Pfizer. 

Lucinda Price: [00:09:22] That's hot. 

Sophie: [00:09:23] Oh, I'm going to go with Pfizer purely off the basis that like there was like a lot of chat about the side effects for AstraZeneca and a lot less chat about the side effects for Pfizer, but no scientific basis. That's just what I've heard. 

Lucinda Price: [00:09:45] Oh, I reckon Pfizer, because I feel like I've heard the term Pfizer before the vaccine. Like, do they have other medicines? 

Maddy: [00:09:53] Yeah, I mean, I probably I think that would probably be right. However, AstraZeneca has a chef. Price of $82 and Pfizer is $57. So there you go. I'm wondering if AstraZeneca was the main one in the UK, so I'm wondering if maybe the long term impact? 

Lucinda Price: [00:10:10] All right. So because I'm busy. 

Maddy: [00:10:11] Yeah, our final one for our influences, we have got Hamish Blake or Zoe Foster Blake, who has more followers. 

Sophie: [00:10:21] So oh my god, this is so hard. I'm just going to go with Zoe because girl power and also I'm obsessed with her. But like, there's potential that Hamish could have more considering the cakes he makes for sunny for his birthday.

Maddy: [00:10:36] Sure, it's a good call. 

Lucinda Price: [00:10:38] So iconic. Yeah, I reckon Zoe as well, just because she creates a product. So I feel like people are invested in seeing what she's doing with that. And she writes captions and she's got like a specific tone. I don't look, 

Maddy: [00:10:52] I agree with you both how you are both incorrect. Hiring has 1.1 million followers, and Zoe has seven hundred and eighty 30k. And our final one for the morning we have got Lululemon and Nike, Lululemon. Interesting. 

Lucinda Price: [00:11:08] Oh, and I take it back. Definitely not. 

Maddy: [00:11:10] Interesting. Yeah. Not giving anything away. So. 

Sophie: [00:11:14] I actually had read that Lululemon's share price is going up at the moment or I heard it on a podcast and I was it spiked like sparked my mind because we'd spoken about Llewelyn before, but I would still say Nike because I'd say it's probably bigger Nike like and more global reach. 

Maddy: [00:11:29] I actually knew about this fund because someone told me that Lululemon share price is higher than, like a whole lot of designer brands. So I went looking for this one, especially at Lululemon, has a share price of five hundred and twenty five dollars and Nike is 208. Lululemon share price is wild. 

Lucinda Price: [00:11:48] Oh my God, is that because they have like a market cap or something? Is that true with 

Maddy: [00:11:53] market cap is like the number of shares times a share price, so they would have a higher market cap, probably because of their share price, although Nike might have more shares. So that's an interesting one. 

Sophie: [00:12:05] All right. So firms, we kind of want to jump into your journey with investing because you had put on your socials that you going to give yourself a month and that you're going to work out what you're going to invest in and then hopefully invest for the long term in your goal to become a millionaire. And so this is all a part of it. Your story is a bit different to most because you actually started with a cryptocurrency and acquired a small coin, whereas people usually tend to go with the safer assets first. So what prompted you to get into investing? 

Lucinda Price: [00:12:37] I had wanted to invest for a while because I had some savings and I was thinking, they're just going to sit there until I have, say, a house deposit. A fair way of that, so I may as well do something with them. So I put down $500 and I said on my story, I've got $500. I need to double it by the end of the week. And when I did that, I wasn't even thinking about stocks. I was just bored that way and thought, Oh, I want to do something interesting. And someone had suggested, go to Brisbane on a flight and put it all on red, and I was going to do that. I started Googling flights, but it was just a weird time in Covid, so I could

Maddy: [00:13:19] then casinos like me. Why did you have to go to Brisbane? I don't know. I think adventure drama like 

Lucinda Price: [00:13:27] being needed brown snakes, that kind of thing. Grim. So then someone said a lot of people actually said cryptocurrency and part of me was thinking, I can't be bothered. Like that seems like a big thing. But a few people said to me, it's not even that hard and actually a lot of women rate shot and the like. I started getting into it during COVID and it's been really fun and I've made heaps of money. And I thought for that purpose of making double my money in a week, I'm not going to do that on the sharemarket, but I could probably do it on crypto. So one person gave me a recommendation like go and download finance, which at the time I thought was Binance, which is funny. Go on Binance and look for a shit coin, something silly or something they like the name of and buy $500 worth of it and just see what happens. So I did that, and I was chronicling the whole experience on my Instagram Story because I thought, if I'm going to learn this, I reckon most people could learn as well. And then I ended up buying this thing called Comey's, and it went up. It went from like point zero zero zero zero five to like five point five or something. That's crazy. Yeah. Technically, the investment went to 14000 from 500 in a week. I definitely didn't have anything to do with that because this is not financial advice, and I honestly didn't look that wasn't my intention. I like the fact that other people bought it. It was definitely very speculative on their behalf because I, yeah, I got my money out and I put it into another crypto and I just have not touched it since. 

Maddy: [00:15:11] So from crypto to stocks, what made you want to sort of take that next step and actually start investing in equities or in stocks? 

Lucinda Price: [00:15:18] So that happened in May, and I gave myself, I said, I need to get to the end of this financial year before I look at anything else because being a business owner, it was my first year doing business on my own, so I had no idea about tax. I had no idea what I was going to get paid tax all year. So I was gearing myself up to get absolutely Ren and I did. So thankfully I didn't put my money anywhere. And then, yeah, at the end of July, I had done my tax return and I knew I had a certain amount of money to play with. So then I you guys messaged me and were like, Oh, you want to come on the podcast? I thought, I'm going to give myself a month for the podcast to make some investments because I think with investing and stuff, it's probably a good idea if you give yourself time limits. Kind of like having deadlines for projects, otherwise you just wouldn't do it. So I started doing that and I just started having conversations with my friends and I started a Google doc. So every time I'd have a conversation with someone, I'd with my phone out and go, Olaplex done it. Google it later and then I go home and Google it put more in the Google Doc. So I was always having this tally of things that people were telling me because I think otherwise it's really easy to get overwhelmed because you're like, what the hell someone's talking about, like Macquarie Group and CommBank, and I'm forgetting why one is better than the other. So just laying it all out for myself and then on one day saying, Okay, I'm going to take the plunge and put this much in this and this much in this, that's kind of how I do it. 

Maddy: [00:16:49] Nice. So when you were starting out, did you think at all about what your goals were? I mean, obviously, we know you've got the goal of making a million dollars, but so if you often talk about how it's a good idea to have an idea of your time horizon in the market because that can influence your risk that you're willing to take and things like that. Do you ever think about that at all? 

Lucinda Price: [00:17:09] Yeah. So just to clarify, if you're wanting to take a little risks, does that mean you hold onto them for ages?

Maddy: [00:17:17] Yeah. So I guess the idea there is like over the long term history would say that the stock market is going to go up because the general economy is going to keep growing and expanding, which made stocks will go higher. But in the short term, the stock market can be quite volatile because it responds to sort of daily news and things like that. So I guess the idea is if you are only wanting to hold something for the short term and you want to get out quickly or you need that money for something, then you have to sell. It might be at an inopportune time because like the stock market might be down that day, there could be some bad news, whereas over the long term, history would say that things are going to trend upwards. So that sort of makes it less risky.

Lucinda Price: [00:17:56] When I heard that, actually that was brand new information for me, the idea that like when I say I know nothing about the economy, I stopped thinking about money in any way in year 10. When I decided I couldn't do maths, I thought I was going to get an accountant one day. Forget about it, and I'm going to be rich anyway, so I'll be able to afford a house. That's what I told myself. And then, yeah, life doesn't work like that. So a harsh thing. But yeah, the idea that this that the whole world and things get more expensive inflation. While one was all news to me that, yes, my strategy is hold long term. So at the moment, I've only put enough money in that I would not have to touch that money in 10 years to do anything because I don't know about you guys. But if you run your own business or if you want to do that, you never really know how much money you're going to make year to year. But I can say in the next five years, I cannot see myself buying a house, and I think that's the only time when I need to pull money out. So at least five years, which isn't technically long term, I'd want to keep my shares for 20 years. So that's kind of what I'm investing in for. That's the bulk of my investments 

Sophie: [00:19:09] totally resonate with that whole. Becoming an adult thing and realising it like buying a house is so Dollars like trying to keep money in your savings is bloody hard enough. The thought of actually purchasing property is just, yeah, way too much to even consider. So you said that you're going to be buying and holding for the long term you've given yourself a horizon of, say, 10 years? Have you developed a strategy for how you're going to be investing at the moment, like you're going to be putting in certain amounts every month or every year? Like what is your plan going forward? 

Lucinda Price: [00:19:40] My plan for putting money in is that I always want to put a fair chunk of money in at a time because of obviously the fees. So the stuff that I'm investing in first is 50 per cent things that are super stable, like a bank, gas or gold or something. And then the other 50 percent. I'm doing ETFs and businesses that I think just have to grow because of what's going to happen in the future. So that's kind of what I'm doing. 

Sophie: [00:20:11] Yeah, you make a good point about the fees because I feel like we often get asked about how much is too much in fees. A rule that I usually stick by is not paying more than one per cent. So if I'm making you save, I'm putting in a thousand dollars every month with a $10 brokerage fee that's sitting at my one per cent, but I wouldn't probably put, you know, $500 in with that same $10 brokerage. I'd probably wait to accumulate the thousand dollars over two months so that I'm paying under that threshold, I guess. 

Lucinda Price: [00:20:37] Yeah, right. Well, I don't think I would do that. I wouldn't. For me, I wouldn't do the month to month investing just because I don't know. Yeah, I don't know when my paycheque is going to be. And I also like the idea of some months. I'm really interested. So I'm going to be Googling heaps of stuff and then other months. I'm not going to be that interested. And I think because I'm doing it long term, it doesn't necessarily matter at what time that I'm buying. Like, I'm sure there'll be opportunities for certain stocks where it's like, Yes, it's a good idea, but I think I can put alerts on for those kind of businesses that are going to have a lot of movement.

Maddy: [00:21:11] I think that's the best thing about it is. It's like there's no like you make your own rules, you can invest when you want, you can be interested at times and pay more attention and then you can take a back step. I know recently I've been really busy and I just have not. I haven't looked at my stocks, which is very good because apparently they've been down and I haven't been investing regularly because I just know that I'm not in it enough to sort of know what's going on in the moment. So I've taken a step back and I, you know, in a couple of months time, I'll probably be back on it again. But I think that's the best thing is, you know, if you've got more money or if you've got less money, you can do whatever you like and you can make it sort of suit your own personal circumstances. We are going to take a quick break for our sponsors and we are going to be right back to chat more with firms about what she did step by step to get started investing. 

Sophie: [00:22:01] So firms, I think one of the biggest things that we see a lot is like this paralysis when starting out investing like people have good intentions and they're like, I really want to do it. But it is can be off putting. It can seem a little bit scary. There's a lot of information, as you said, out there, and it can be hard to navigate. So we wanted to get an understanding from you. Like what was your first step in going on this investing journey? How did you start? 

Lucinda Price: [00:22:29] My first step was finding at least one source of information that I trusted and that kept me interested. And then, yes, and that was Get Started Investing feed by Equity Mates. So I started listening to a few of those, and then a friend of mine recommended you guys because apparently she's friends with one or two of you. And I gave you guys a listen and you built on some of the stuff that the guys had told me before. So I had this feeling of recognition like, Oh, I know what that means. They're talking about that. That, Oh, cool. And speaking in a language that I could understand. And I think we're in a similar age bracket. So that was really helpful seeing what people my age were doing. And I guess the other thing is the places where I'm finding information, I want it to come from. People who have similar a similar ethos to me like this doesn't necessarily matter, but I like speaking to people who are curious and want to bring you along for the ride rather than telling you what to do. Like I found, I've also been listening to your podcast and then from that, having conversations with friends that I know invest. And it's so helpful because I come to them with some base understanding so we can have baby step interactions. And what I'm finding is some people are great to talk to. Other people aren't great to talk to you because you've got some people that are really excited for you to get started. And it's all positive and they tell you before they talk, they're like, I'm not going to tell you what to buy because they don't want to tell them to do something stupid. And then you've got other people that approach it like, Oh yeah, like, you probably shouldn't do that. You probably should do that. And that can be really stifling. And I think that can make people stop and not want to do things because some people are really convincing and like, no at all. So finding people that you don't think and know it alls and that are in a similar life circumstance that was so helpful, you guys gave me the confidence to get started. 

Maddy: [00:24:33] I think that's such a good point because I don't know about you. But for me, investing was something that I've never spoken about with my friends. I hardly ever knew existed or was an option that I could do. And then as soon as I started doing it, all of a sudden I started having these conversations with all these people around me, and I was like, This is literally something that everyone's doing, and I had no idea. And then as soon as you're in the know, it's like, everyone can't stop talking about it. 

Lucinda Price: [00:24:57] Totally. It's like being in a secret. It's like being in the Illuminati. It's like, Oh, and I think that can also be off-putting. Like, I worry about people listening to this who were in a similar boat. I was, however, many months ago. And you get this feeling of FOMO like, what is everyone doing it like? Am I an idiot? Should have I started this years and years ago? But another thing that you guys told me is that it's never too late to get started because it's a lifelong thing. And yeah, if you're in it for the long term, who cares if you were a year after all your friends? 

Sophie: [00:25:30] Yeah, exactly. I think I think you can get started at any time because I know that Maddie and I look at this as a very long term thing and for your retirement or, you know, when you're older, a bit older. So you've said that you spoken to a lot of friends, which way you also find a great way to do research and get opinions from people. What are the other sources that you're using for your research process? 

Lucinda Price: [00:25:52] I will Google companies and then I'll look at particular websites. I look at particular websites through different lenses, so there's always this website called Motley Ren comes up, which is pretty sure it's just like a let's go ads. 

Sophie: [00:26:07] Is that the right term Etsy ads like they get put up the day? 

Lucinda Price: [00:26:10] That's the right time. Yes. And that always comes up. So for a while, I was looking at that, but I am like, Wait, that's definitely not a reputable website. But yeah, I look at certain things that are more reputable than others than I might look at Reddit or I'll talk to friends after I read things. I would really, really like a subscription to the AFL, but it's $7 a week. So fuck that. Like, I'd rather just save up that whole thing. I don't know. I look at I look at that, I look at the news, I'll look at ABC and probably ABC because it's free is my main port of call. 

Maddy: [00:26:52] Yeah, nice. And I guess one thing that I often find is I will sit down and be like, Okay, I want to research this stock and then I'll start writing and then. I'll get really overwhelmed halfway through, and I'm back, I just don't know anymore, and I'll just stop. Do you have? Have you experienced that and do you have any tips for how you pushed through that like paralysis stage of just being like, I don't know anymore to actually like, act and do something? 

Lucinda Price: [00:27:17] Definitely. The Google Doc, the Google, the Google Doc is exactly 100 percent the number one reason why I got started, because you start reading information and it's kind of like uni, you write dot points and then you can see it all mapped out and then compare it to other things that you've written previously. And maybe I've written or I didn't consider that point for this one. I put it in there and I think about it like that rather than reading the whole text at uni and not highlighting stuff like, of course, you're not going to take information in. So yes, the Google Doc is my saviour for not getting overwhelmed. 

Maddy: [00:27:51] I mean, it makes a lot of sense like you don't when your uni, you take notes like you don't just try and keep everything in your head and make a decision. At the end, all ex-cons sit the exam without taking notes, so it's a good tip. I like it. So you've done all this research. I'm really interested and excited to know. Have you actually invested in anything yet? 

Lucinda Price: [00:28:12] Yes. Well, I had today was my last day. I had to have done it, so I spent the last two weeks deciding what I'm going to buy and I've put money in. Can I tell you what I bought?

Maddy: [00:28:25] If you want, this is 

Lucinda Price: [00:28:26] not financial advice. The first thing that I bought was a company, actually, which goes against my strategy, probably, but the first thing I bought is a company called Wide Open Agriculture, which is a sustainable farming business out of way. Its founder is really interesting. He lost his family in the MH 17 Malaysia flight, which is a random fact that I read on Reddit. And I don't know why that piqued my interest. I think it was because I thought someone running a business who's gone through that I kind of have this implicit trust that what they want to do is for the greater good and especially in the space of regenerative farming and stuff like that. I feel like he wants the world to get better. And I feel like there's that trend towards farming in Australia in a way that's not damaging the soil and stuff like that, which I'm pretty sure is what they do, and they have a few different companies under that. So they've got dirty, clean foods, which is like oatmeal and lots of other stuff that uses this product called Lupin, which is it's kind of like soy or oats and stuff, and they use that other stuff. So I like what they're doing. I really like the sound. I looked at the company like picture, and everyone looks really nice. And yeah, it's a growth industry that I'm interested in and I think will become more of a thing from from years of hearing about people talking about farming and breeding things in the news. I apply things that I've read about but didn't think would apply to stocks. And then I chose that company sets one company. And so what I started actually is I gave myself a certain amount of money to play with. So let's say I gave myself. $10000, just because that's easy to divide. Let's say what, $10000? Sorry, I put 2000 into water and agriculture, for example, then I thought, I want to buy something that is super stable. So I bought Macquarie. Macquarie Group shares, because I was like, I want to buy a bank. I was like, Do I buy a CommBank? Because I have a con bank? I Bankrate.com bank and I'm I'm going on CommSec, which I know. Some people say the fees are too high, but I just wanted to get started. So I went with CommSec. And I was like, Do I have a second bank or do I buy? Macquarie Group spoke to some friends and it sounded like Macquarie Group was a go. Just because they use that and as a company, I think it's got more a few more interesting areas than com bank. So I went with Macquarie Group, and that would be a long, long hold. Like, I'm not going to touch that at all for the next 20 years. And then I bought. I have wanted to get into an ETF and I thought, Yes, I really like them because they're systematic. Is that word? Mm-Hmm. And when I started out the journey. Of investing in my Google doc up the top. I really like the idea of lithium batteries because before I started out, I would just go to people and be like, What are you buying or what do you reckon like? I talk to people that work in forecasting itself and this one guy I would actually become a bit close to during my company show only because I would talk to people about crypto. I went to him and I was like, What do you think about lithium? And he was like, You know, I said, no. I said, What is something that I should invest in? And he said lithium. And then I started Googling lithium and I was like, Oh, I didn't know that's what electric cars run on, like a lot of electric cars. Interesting. Started thinking about lithium in my brain, and then I was looking at another friend of mine sent me like the top performing ETFs of that year, and AC DC, which is a lithium battery company, did fuckin really well. So I was like, I wanted to buy lithium anyway. This is a sign. So I put a whole chunk down on that and what else I bought? I've bought a company that my parents invested in, so my parents don't know shit about investing. Like, I literally I try to talk to them about it, and they just talk about this one company that they've invested in. It's called Mixed DC. Yeah, and have you heard this?

Sophie: [00:32:45] Yeah, I'm invested in it. Yeah. 

Lucinda Price: [00:32:48] So my parents, you're invested in, Oh my god, it's going to be together. What do you guys know about it before? I know. Look at us. When did you buy it and why didn't you buy it? How did you hear about it? 

Sophie: [00:32:59] Oh shit. Now you're interviewing us. So I bought it. I couldn't give you the exact date it was last year at some point, and it was because I used to work at a tech company and I saw a lot of like cloud computing, a lot of big companies taking on cloud computing and needing more cloud storage. I also wrote a paper on 5G and like how we're going to have so many more devices connected to the internet. This was for work, but we're going to have more devices connected to the internet, meaning we need more cloud storage. So I started looking into cloud companies and I actually bought into two different cloud companies, which some people say you like shouldn't do because too much concentration. But I lacked both for different reasons. But yeah, I bought in. Yeah, I make probably more than a year ago. It's I think it's a pretty good company.

Lucinda Price: [00:33:48] Yeah. Well, my parents read about it, put a certain chunk of money down, and now it's like they're it's not their retirement, but it's like a lot of money to them. So that's probably the worst investing strategy. But I guess they were definitely trailblazers because I agree. Cloud computing and technology is a big thing that I want to invest in. So they go next day, say I love.

Sophie: [00:34:15] I love the concentration just in one stock like you just bought into one company.

Lucinda Price: [00:34:22] Let's just hope it holds out to the stock game because I'm like, Oh God, if I go bankrupt, I really am going to need that million. 

Sophie: [00:34:35] The only other thing I was going to say is that if you like, as they say, we actually did an ETF pitch, not in one of the Melbourne lockdowns. I couldn't tell you which one, but we did seven days to seven ETFs and AC DC is one of them. So if you want some more info on it, you can go check it out. 

Lucinda Price: [00:34:49] Yeah, please. Is this part of the podcast? 

Maddy: [00:34:52] Yeah, it's on why the Why YIGC podcast? Instagram in our database? 

Lucinda Price: [00:34:57] Oh, sick, OK, cool. I'll check that out. I love your Instagram. 

Maddy: [00:35:01] So I mean, I feel like hopefully I'll know the answer to this question because we do have you on and we have been talking about stocks lost off an hour. But I want to hear your thoughts. Like, how have you found this process to be exciting and have you sort of like been chatting to your friends about investing? And have you seen sort of people around you getting started as well or? 

Lucinda Price: [00:35:23] Yep, I love it. I didn't know what, I didn't know what to expect with this. I think some people will love it and other people won't. I think I went into it not knowing. And it turns out I really like talking about it. I really like researching it because I don't have much to think about. Like, I don't have many hobbies, actually. And when I'm bored, I'll just Google like celebrity gossip and it actually rots. It's not good for me. It's really not good for my brain. So I want to do something that I can research and look at that I think is helpful for me and I. I think it's going to improve my life. So that's why I'm super interested. But I guess, yeah, it's like it's I'm treating this like a hobby and something that I'm interested in. And I guess I found that learning about stocks has given me more of an understanding of business generally and trends, and it makes me feel informed. And it means when I come into conversations with people, men, women, people who work in finance, I can sit at the table and not feel left out. Which is big for me since I am a boss, you know, and I'm in my life, I do want to make a million dollars and I do want to run my own business and I want to be financially savvy and financially independent. So did you guys know? I mean, you guys probably know this, but it really shook me to my core when I found out the majority of harmless people in the country are older women. Wow. You know? Yeah. So fuck that. I don't want that. I don't want to be homeless and I don't. I want to contribute to a world where, you know, women can divorce their partners and not have to live in a car. Yeah. You know, so I don't want to be part of that and I want to, I think, feel like it's like a domino effect. I get interested in stocks that my friends do and people on Instagram do and stuff like that. So yeah, that's something that I'm passionate about. 

Sophie: [00:37:18] I think you summarised it really well when you were saying that, it's like a bit of a domino effect and that you found more people interested in it now that you're talking about it as well, because I think that's the whole point of what we're trying to do. It's not like, this is what you should invest in. This is what you should do. It's just opening up that dialogue so that people do feel more comfortable when they're sitting around a table. They want to talk about business, they want to talk about current events. It really just opens up a new perspective. And hopefully these kind of conversations allow that for people. 

Maddy: [00:37:44] So before we close out today's episode, we wanted to ask if you have any thoughts or outstanding questions that you want to discuss from your investing journey thus far.

Lucinda Price: [00:37:56] Do you guys invest in the US stock market? 

Maddy: [00:37:59] I do. So I've actually got an Australian ETF I've made that has U.S. exposure, so I'm exposed to the US market through that. But I also I'm a massive Cathie Wood fan. I don't know if you've come across Cathie Wood yet, but she is CEO of 

Lucinda Price: [00:38:15] I did because of your podcast, so 

Maddy: [00:38:17] she is really cool and I love her Athos in the way she goes about things and her fund Ark Invest have an ETF that I have invested in. It's a bit of a more high risk ETF. It's quite concentrated and is listed on the Nasdaq, so I think it's got about 10 or 12 holdings and it's all companies that share your Ark Invest think are really like high growth. So you know, those Teslas and stuff in there, which so I put a little bit of money into that because, you know, some of the biggest and most talked about companies in the world, and I kind of just wanted to have a little bit of a stake in that's just so I could number one, like when you've got money in you, a bit more invested ha and you've got skin in the game. And I kind of wanted to be like a part of that story and, you know, be able to follow it knowing that I'm involved. But also, I mean, she's just so cool and I believe everything she says. So she thinks they're going to do well, then I want to be a part of that. 

Lucinda Price: [00:39:13] How did you buy it? Did you go with your concept?

Maddy: [00:39:16] I use self wealth and they have us trading so I could buy through there.

Sophie: [00:39:21] Yeah, I think CommSec from experience is you can't trade the US through the app you have to go through like their online browser. There's a couple of forms you have to fill out. I also use CommSec, but only for Australian shares to buy with the U.S. I actually use super here just because of the ease of the platform. 

Lucinda Price: [00:39:42] Okay, I'm going to Google our superior. So I want Olaplex. Oh, I know, 

Maddy: [00:39:49] I know I've that's been on my list to do research. I really like it, but I haven't. I've only read good things and I need to read. I need to research the bad things so that I know what might happen.

Lucinda Price: [00:39:59] That's important.

Sophie: [00:40:00] So firms, every episode, we add a something to our watch list, whether it be a stock company, news trend, anything that's really tickled your fancy as of recent. The purpose of this is to get us thinking outside the box and broaden our horizons in the investing space. But we are not financial advisors. This is purely educational purposes only and absolutely does not constitute financial advice. So what are you bringing to the watch list today? 

Lucinda Price: [00:40:29] Oh, this is very I guess its nature might be an issue to the audience. 

Maddy: [00:40:36] Gaming loss. 

Lucinda Price: [00:40:38] Huge. Such a big situation and one of my my friend's boyfriend works for a gaming company in Melbourne. And her and I, she's like my investing buddy. I will talk to her on Facebook Messenger all within one minute. She will log on and start talking to me. She's got like a full time job as an architect and just hitting the fucking drop of a hat. She's like nuts. I love it. And her boyfriend works for a gaming company. And she said to me, all, Chris sort of invests in this thing called Placide, which is a Melbourne company. It's a gaming company. They create games and. Yeah, I think the gaming space is super interesting. There's so much money in Twitch, like people on Twitch and play games and make millions of dollars huge. And I just feel like it's not going to go away. So I found she told me about Placide. Her boyfriend doesn't work for them. He works for something else. But he's invested in and I thought, Oh, most, I'll just throw a small amount of money down because I would love to learn about gaming anyway, because it could be a cool revenue stream. Different world. 

Maddy: [00:41:53] But yeah, that 

Lucinda Price: [00:41:54] again, buying into that company goes against all of my ethos. That was kind of just something that I did yesterday without thinking so could be a really stupid idea. 

Maddy: [00:42:04] So maybe for those listening, if you know anything about this stock, jump into our Facebook group and let's chat about it. Let's say if it's going to be a good investment or what the what the upsides are, the downsides of place.

Lucinda Price: [00:42:16] I love it. Place side studios.

Sophie: [00:42:18] Also, I would definitely play like firms on Sims. If you want to make that a thing, like, I'd be down for that. 

Lucinda Price: [00:42:25] Yes, I know there's like a little big twist in Chinese that lothario character who is in that house would like to stay in shape. I love it. 

Maddy: [00:42:35] So much so to close at today's episode. If you could give one piece of advice to someone starting out investing, what would that pace of advice be? 

Lucinda Price: [00:42:47] It would be to buy this book, get started investing by Alec Renehan and Bryce Leske, lovely founders of Equity Mates now. But seriously, this book is great, and there's a page in it that shook me to my core. I learn about inflation in one page and it changed my life, so I haven't gone past that because I'm reading novels right now. 

Maddy: [00:43:14] We do recommend that you read the whole book because I have heard from sources that are not my own brain, that it is a great content. So friends, thank you so much for joining us today. If anyone would like to find out more info about you, join friends had become an employee. Where should they go? 

Lucinda Price: [00:43:29] I would say starter pack going to Instagram. Find me at firms with three hours. If you want to become a true employee, I recommend looking to your my story highlights and just getting involved because if you're in Froome's while you're in it for the long haul. This is a growth company, so sign up. 

Sophie: [00:43:48] Can I make a suggestion also to anyone if you are new to firms? There's two videos you need to watch. The first one is your biscuit review. That's my favourite video. Your favourite biscuit. And the second one is yours. Shane Warne. What is it? Kalayaan review there their two goodies

Lucinda Price: [00:44:05] Big great intro videos. 100 percent. Thank you, Sophie

Maddy: [00:44:09] thank you so much for joining us today. It has been a lot of fun. 

More About

Meet your hosts

  • Maddy Guest

    Maddy Guest

    Maddy lives in Melbourne, works in finance, but had no idea about investing until she started recently. Her favourite things to do are watching the Hawks play on weekends, reading books, and she says she's happiest, 'when eating pasta with a glass of wine'. Maddy began her investing journey when she started earning a full time income and found myself reading about the benefits of compound interest in the Barefoot Investor. Her mind was blown, and she started just before the pandemic crash in 2020. What's her investing goal? To be financially independent for the rest of her life, and make decisions without being overly stressed about money.
  • Sophie Dicker

    Sophie Dicker

    Sophie lives in Melbourne, and enjoys playing sport, and then drinking red wine immediately after finishing sport. She works in finance, but honestly had no idea about investing until her partner encouraged her to start. She says, 'my interest has only taken off from there - I find it exciting… I mean who doesn’t like watching their money grow?' Her investing goal is to build the freedom to do things that she's passionate about - whether it be start a business, donate to causes close to her, or to take time out of the workforce to start a family. Right now, there’s no specific goal, she just wants to have the freedom when she'll need it.

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