Equity Mates’ Investing Styles: A Deep Dive into Their Strategies

Bryce: [00:01:08] Welcome to get started investing in this podcast. We cover all the basics. You need to start your investing journey. If you have just picked up this podcast, head back to Episode one where we unpack all the fundamentals right from the start. We go through the jargon, confusing bits here, your investing stories with the goal of making investing less intimidating. And we want to have a good time along the way. My name is Bryce and as always, I'm joined by my Equity Mates Ren. How are you going? [00:01:34][25.3]

Alec: [00:01:34] I'm good, Bryce enjoying this this chapter style. Is that what we're calling it. Chapter series. Whatever is where we get a little bit more time to Deep Dive on some of these sort of key questions that the Equity Mates community have. Yeah, we're up to we're talking about investing styles here in the two previous episodes we spoke about what do we mean when we talk about investing styles and the decision around being a passive investor or an active investor. And then in last episode, we went through a number of different active styles of investing, [00:02:08][34.2]

Bryce: [00:02:09] played a bit of who am I, [00:02:10][0.8]

Alec: [00:02:10] who am I? And the reason that we are talking about investing styles is because if you know what kind of investor you are, that will change what you're looking for in investments, how you think about investing and ultimately where you put your money. So it's important. There's no one right way to make money in investing. You can make money in lots of different ways. But the important thing is that you know what your style is. So we're going to put it all together in this episode. [00:02:36][26.4]

Bryce: [00:02:37] We are. So we're going to give some practical steps and actions that you can take to set up your investing style. We're going to have a look at a month in the life of of a passive investor growth investor and a value investor and then have a bit of a chat about what Ren and I do during our sort of month and what type of investors we are. As we said in the intro, if you have just picked up Get Started Investing feed, this is your first episode. We do strongly suggest that you go back to the start. There aren't too many episodes and and listen in sequential order, because it really takes you on the journey of of getting started. And then by the time you come to this episode, you'll be with the rest of the gang. [00:03:17][39.9]

Alec: [00:03:17] Yeah, well, I mean, that's how we've designed this feed to not not to pick up on the latest one. So, I mean, listen to however you want. It's a free country, but that's how we suggest you do it. But let's get stuck into it. So active, passive growth value, a lot of buzzwords. Um, end of this episode. You'll have, I guess, the knowledge to know what buzzword fits you. [00:03:46][28.9]

Bryce: [00:03:47] Yes. So let's start with the month in the life of a passive investor. How might your your month look both from what you'll be investing in, how you be investing, and then I guess how active you're going to be. So passive investor Ren you're going to likely choose to invest in the ASX 200 and the S&P 500 or a choice of many of the index funds that are out there. That is that's the main consideration here, is that we've identified and spoken about passive investors are ones that take an index approach. [00:04:21][34.1]

Alec: [00:04:21] Yeah. So you're not trying to pick stocks and beat the market. You're just saying that the market grows as companies get more competitive and economies get more productive and entrepreneurs continue innovating. And as a passive investor, I'm happy not to spend a lot of time worrying about which company will do well. I'm happy just to take the whole of market approach and take what the all the market gives me. And so, yeah, you're buying index funds, which indexes are, I guess, investment options that track the whole market. So ASX 200, you mentioned, takes a little bit of all of the two hundred biggest companies in Australia, puts them in one easy to buy investment. You buy that you own a little bit of two hundred of the biggest companies and you say go Australia back in Australia to do well. As Scomo would say Team Australia, team Australia. [00:05:15][53.9]

Bryce: [00:05:16] So you've chosen your index funds, you're taking a bit of a hands off approach. So what you'll be most likely doing is consistently moving money to your brokerage account each time that you're paid. Now, this could be in small amounts, it could be in large amounts. Whatever amount is comfortable to you, you're likely automating that process and sending money through to your brokerage account. [00:05:36][19.9]

Alec: [00:05:37] Yeah. Then the the flip side of that is once you're putting that money into your brokerage account, you're buying the same indexes or the same few index. Says at regular intervals, and so it's all about consistency and regularity, it's it's the not thinking too much about it approach. And if you've got 100 bucks a week that you can save from your paycheque, you're putting that into your brokerage account. And when you have five hundred dollars, you're buying the ASX 200 and you just continue doing that over and over again like Sisyphus pushing the rock up the hill. [00:06:13][35.7]

Bryce: [00:06:15] Yeah, I mean, and that's really about it. You rinse and repeat, you sit back and you let the stock markets do it, do its thing. I mean, really, the whole idea of passive is just to take the market returns and do it over [00:06:26][10.9]

Alec: [00:06:26] a very long period of time. I I'm laughing at your next note that you've put in here. I'm going to read it from the bottom. So Bryce is next. About a month in the life of a passive investor is you giggle at your mates talking about speculative mining stocks and don't get caught up in the chat. You stick to your strategy. Yeah. How often are you giggling at your mates? Talking at you all the time. Honestly, I'm pretty proud of our mates that we don't talk a lot about speculative mining stocks. I mean, Specky McGee talks a lot about speculative crypto, but [00:06:59][32.9]

Bryce: [00:07:00] mean, outside of you and I, he's probably there's not many other mates who generally talk about it at all. [00:07:05][5.4]

Alec: [00:07:06] Maybe they just don't talk to you about it. [00:07:08][1.7]

Bryce: [00:07:08] It's all either crypto or specky. [00:07:10][2.1]

Alec: [00:07:11] Oh, no. [00:07:12][0.9]

Bryce: [00:07:13] But anyway, so, yeah, look, the whole idea of being passive is that you try and avoid getting caught up in some of the other styles of investing that we spoke about, which is fear of missing out and taking stock tips from mates. You just want to stick to your strategy, not get caught up and listen to those mates. You reckon they're making a fortune on speculative money stocks and just keep putting money into indexes over a long period of time. And I think once you get a bit comfortable with, you know, starting out with a couple of ETFs and index funds, you might decide to have a couple of thematic ETFs in your portfolio. You know, cyber security, sustainability. There's a bunch of ETFs out there that let you kind of still get broad exposure. But I guess you can start investing from a bit more of a macro perspective. So you apply the same buying approach, though, and just keep plugging away. [00:08:00][47.2]

Alec: [00:08:00] Yeah. So I think some of the key buzzwords there are consistency, automating regularity. It's all about that set. And forget taking what the market gives you over a long period of time. And, you know, as we spoke about in the first episode of this chapter, passive investing is great for people who are busy, don't care a lot about the market and don't want to spend a lot of time studying it or just, you know, have other things that I'd rather do with their time. And so this is a very, I guess, low effort and low mental bandwidth approach to investing. But the important thing is that you can grow a serious amount of wealth by never buying an individual stock, by just taking what the market gives you, maybe investing in some of these thematic ETFs. But the idea that you have to invest in individual stocks to be an investor is just wrong. And honestly, that's how that's that was what I thought when I started investing, that you have to invest in individual stocks. You don't. And plenty of people do very well for themselves with this passive approach. [00:09:08][67.6]

Bryce: [00:09:10] So then we can move on to some active investor styles. Let's start with the growth investor and you'll start to see the difference, particularly in the time required if you want to take an active approach. So a month in the life of a growth investor. Firstly, you're someone who loves learning about innovation and disruption and you're thinking about it. You reading in the news, you're constantly on the lookout for new companies that you haven't heard of before or that have just started doing something new. So already you can start to see that you're a bit more invested in your own pun intended. Yeah, you're more invested in your own approach to finding and sourcing companies rather than just choosing a broad index and and putting money in. You're saving your money and you're waiting for the right opportunity. Here's a big difference between a passive approach where you're consistently putting money into the market. You don't want to just be spraying and praying as a growth investor. You're sitting back and waiting for that opportunity. You know, the next Afterpay to come along. [00:10:08][58.5]

Alec: [00:10:09] You don't want to be spraying and praying as any type of investor. No. Yeah, no. [00:10:13][4.3]

Bryce: [00:10:14] So look, you know that four percent of stocks drive the overall market returns. So you're on the lookout for that epic idea and you don't want to invest in just any stock. And when we say the four per cent of stocks drive overall market returns, if you reverse that, 96 percent of stocks don't do a lot. [00:10:34][20.0]

Alec: [00:10:34] Yeah, yeah. And that that can be a confusing concept. But but just think about it in practical terms in today's Australian market or the US market is. Maybe a better example, but in Australia, you know, we see that the companies that are really driving growth are those new and innovative companies that are pushing the index higher, whereas companies like Coles, Woollies, CBA, they're good companies and they will grow, but they just grow really slowly compared to some of these other companies or in America, the big five tech companies have driven the growth of the American market. Amazon, Microsoft, Facebook, Apple, Alphabet, and then some others like Netflix and stuff, obviously, as well. But they're the those really innovative companies that are driving the overall growth of the market and the economy and growth. Investors are looking for those ones. They're looking for those ones that are going to drive that next stage of growth. You know, back in the 60s and 70s, it was companies like Wal-Mart and Boeing. And, you know, before that, it was other companies, you know, like the IBMs have had their moments. Even companies like Kodak, when it was the nifty 50s, like every generation, has these growth companies that just drive overall market returns. And that's what growth investors are looking for. [00:11:54][79.7]

Bryce: [00:11:54] Yeah, you are trying to find that diamond in the rough. And when you do, you go hard. You you take that cash that you've been saving on the sidelines and and really back the that company in your conviction in that company. And you keep an eye on your investments. That's that's one of the main things. And the main differences between the passive approach and an active approach is you keep an eye on it. You make sure that you're still convinced by the growth story. And if you are not, then it's time to get out. Yeah. [00:12:24][29.4]

Alec: [00:12:24] And you know that growth doesn't last forever, like or some of those companies that were the growth stocks back in the day. I mean, Kodak is a classic example. It was a massive growth stock. And now does it even exist anymore? Yeah, it still exists, but it actually went into crypto. Yeah. Yeah. But, you know, that's not a growth story anymore. Even Wal-Mart, like an incredible business, does 500 billion dollars worth of sales a year. But the growth story isn't there anymore because it's just so big that it's just really not going to grow as quickly anymore. But at one stage, it was a phenomenal growth story. And so as a growth investor, you do want to hold companies for a long period of time and let them grow. But you know that that period of time isn't forever will end. [00:13:09][44.6]

Bryce: [00:13:09] Yeah. So then we move to a life a month in the life of a value investor. [00:13:15][5.5]

Alec: [00:13:16] You're sad a lot of the time. [00:13:18][1.3]

Bryce: [00:13:19] Just to confirm here as well that a month in the life of a growth, you may not have bought anything in that month. Just don't get us wrong here. You might only buy three times a year if if no opportunities sort of come through. And very similar to a month in the life of a value investor. You might not be buying anything, [00:13:35][16.3]

Alec: [00:13:36] but but you might you might not be buying anything. But you're definitely engaged in. [00:13:40][3.9]

Bryce: [00:13:40] Absolutely. [00:13:40][0.0]

Alec: [00:13:41] You learn to find you're constantly learning. Yeah. [00:13:43][1.9]

Bryce: [00:13:44] So a value investor, you will have a list of companies you love, but you're not investing in them just yet because you're keeping an eye on the market and hoping that the prices fall so that their valuation falls in line with all the hard work that you've been doing. You have an idea of the price you'd be willing to buy your favourite companies at. And when the price does fall, the opportunity is there and you take it to to jump in. But you are driven by price and by value. You know, you do have conviction about the company. You believe in the story, but your your determination to buy or not is driven by its price. [00:14:25][40.2]

Alec: [00:14:25] Yeah. And the flip side of that of waiting until the price is low enough to buy is even if you love a company, if the price gets too high, you're happy to sell it no matter how much you love it. Yeah. Price for you is is the be all and end all and that that is what determines your choices. And as a value investor, it means you're looking at prices a lot and seeing how the market's moving and saying if there's opportunity of any stocks on your watch list and you're also spending time researching companies and trying to find opportunities. [00:14:58][32.3]

Bryce: [00:14:58] Yeah. [00:14:58][0.0]

Alec: [00:15:00] One final thought on the growth and value investor and a lot of these active investors a month in the life, they're still in that good habit of taking a little bit of money, however much they can afford from their paycheques and putting it in a brokerage account or keeping it separate so they don't spend it. You know, whatever type of investor you are getting in those good personal finance habits of spending less than you're earning, making sure you have an emergency fund and then putting some money away so it's ready to invest. That is that should be universal. [00:15:34][34.4]

Bryce: [00:15:35] Yeah, absolutely. [00:15:35][0.4]

Bryce: [00:16:55] All righty, so to put a big bow around this chapter, I guess the last three episodes, Ren, we're going to have a bit of a conversation around what are our styles and what our month looks like. [00:17:04][9.0]

Alec: [00:17:04] Let's get personal. [00:17:05][0.5]

Bryce: [00:17:06] Yeah, look, and I'm sure there's going to be no surprises here that we're probably going to be very similar. It'd be interesting if I came out or if you came out and said that you're a hardcore technical trader because. [00:17:15][9.2]

Alec: [00:17:17] Well, I as I keep saying on the show, you had a moment where you tried to become a technical side. Read all the books. [00:17:22][5.5]

Bryce: [00:17:24] Let's go one for one. And I guess answer the same questions and we can see how we kind of pan out. Sure. [00:17:30][5.7]

Alec: [00:17:31] What's your deepest, darkest fear? [00:17:32][1.1]

Bryce: [00:17:34] Dolphins. All right. So we start the talk with you. What was the process and pathway for you to get to your style today? [00:17:44][10.6]

Alec: [00:17:45] OK, so I started my investing journey as a value investor, and that's because when I started investing, I read a few investing books and the Warren Buffett letters, the classic way that a lot of people got started. Hopefully one day they'll say, I listen to Equity Mates podcast, but didn't exist when I started. Yes. And you know, Warren Buffett and, you know, books like security analysis, they all talk about value investing. And so I thought you had to find companies that were undervalued and invest in individual stocks. That led to my fateful decision to invest in Slater and Gordon. And not only was it not undervalued, it was a company where I lost almost all of my money on over 99 percent of my money. Did you do? [00:18:36][50.8]

Bryce: [00:18:37] Did you actually do any work to come up to a valuation? [00:18:39][2.2]

Alec: [00:18:40] Well, I mean, it was my first investment. The valuation work was loose. It was like price to earnings ratio. [00:18:46][6.3]

Bryce: [00:18:47] because I just want to make that clear. Like you say, you were a value investor, but your your your skill set to actually execute that?[00:18:56][9.2]

Alec: [00:18:57] Yeah, but at the time I thought I was being a value investor. In hindsight, I didn't have the knowledge or skills to execute that strategy, but at the time I thought that's what I was doing. Yeah. So I started like that. And then, you know, over the journey of doing this podcast of making some more mistakes and getting some wins in investing and also just thinking about what I am interested in and how I like to learn and what I like to write about and the companies that really excite me. I've definitely moved more to the growth style of investing. And I really want to find companies that have long term sustainable competitive advantages and can grow for decades to come. And I also supplement that with a passive approach where I just say put it in. Index funds consistently take the market returns. And so that's that core and satellite approach that we've spoken about on the show. And that that's my pathway to get to today. And I think one of your future questions is going to be if you had your time again, what how would you start? Because I do want to add to that, but we can make it up before then. What was your process and pathway to get to today? [00:20:10][73.2]

Bryce: [00:20:12] So I was fortunate, I guess, that my parents very much encouraged me to start with a passive approach. Now, ETFs or index tracking wasn't as prolific back then as it is today, but it was very much through a listed investment company approach and they were pretty well diversified. However, not too long after that, I got pretty interested in the markets and decided that that was a pretty boring approach. Didn't listen to to what my parents were saying and went full, active based mode, full active beast mode and thought that I would start picking stocks individually. And similar to you had read many of the the Buffett books and understand that value was what you wanted to try and achieve, didn't have any skills to be able to execute that and started I guess what I thought I was doing was value. But really what I was buying was growth stocks. I bought into Pelamis and a few other, you know, companies that I believed would have great opportunities to grow, which they did. And then I got too confident and carried away and made some silly decisions from an active management point of view, lost a bit of cash and have subsequently similar to Ren through this podcast, understood the value of passive investing over a long period of time, which now forms, I would say, much more of a part of my portfolio than than it did back in the day. [00:21:39][87.5]

Alec: [00:21:40] Yeah, there was one time a couple of years ago where you were like, I'm I'm going 100 percent passive. Yeah. [00:21:45][4.8]

Bryce: [00:21:45] Yeah, well, I almost am. Really. Yeah, there's just I'm saying a hundred percent. So when I say the make up of my portfolio, I. No, but like, my month to month is very passive. [00:21:58][13.0]

Alec: [00:21:59] Yeah, yeah, which is probably the most sensible way to do it. Once again, Bryce Leskie, the sensible one month to month, you're really only doing passive. And then it's only when there's like a real golden opportunity. You then say, this is a moment where I'm going to swing for the fences. [00:22:14][15.4]

Bryce: [00:22:15] And so I guess I'll ask you a question now. Ren, are you likely to change your current process or style? [00:22:22][7.0]

Alec: [00:22:23] It's a difficult one. There's obviously it's difficult to predict the future. And if you'd asked me when I was losing all my money on Slater and Gordon if I was going to change my style, I probably would have told, you know, because Warren Buffett has written all this stuff about value investing. That made sense. I don't expect I will. But I am also acutely aware that we are living through a golden moment for growth investors. You know, the last, you know, 10 or even 20 years has just seen the rise of some phenomenal once in a generation growth companies, you know, the Apples, the Microsoft, the Facebook, the alphabet's of the world. And so right now, growth investing makes a lot of sense because all of these phenomenal technology companies are being created and growth investors are making a lot of money. I am not going to be confident enough to say that growth investing is going to be the style of investing that makes sense for the rest of my life. So right now, I don't think I'm likely to change, but I think it would be naive to say that we're stuck with our style for life, you know, as. Churchill maybe said, like, when the facts change, my opinion does. I think that has to be any investors approach. Like if this situation changes, you've got to be able to roll with the punches. Mm hmm. [00:23:47][84.2]

Bryce: [00:23:48] Yeah, I agree. I think I can't see myself ever going hardcore charts mode or anything like that. And I think what I'm doing at the moment makes sense. But yeah, I agree, given that I've even over the last five years, we've changed from what we thought we would. You're right. It would be silly, silly to say otherwise. [00:24:04][16.3]

Alec: [00:24:05] I mean, look, hopefully at some point we can start the Equity Mates hedge fund, Equity Mates Private Equity Fund, Equity Mates Venture Capital Fund, and then our styles of investing will just balloon from there. But let's go back to the present day. Um, obviously, we don't want to say exactly what we're investing in because, you know, it's not about just following exactly what we do, but maybe if you can give us some broad strokes on, um, maybe your passive approach, given that's where a lot of your money goes, like, are you just putting it all into one index? Or like, how do you approach that passive decision and maybe talk us through a week, a month, a year in the life of Bryce Leskie in terms of his passive investing? [00:24:51][46.1]

Bryce: [00:24:52] Sure. So my core portfolio is built around a bunch of ETFs. So I think I've tried to expose myself to the market here. So that's the ASX 200. I obviously want international exposure, particularly in the US. So you're looking at the S&P 500 or the Nasdaq over there. [00:25:13][21.2]

Alec: [00:25:14] Do invest in both the S&P and the Nasdaq? [00:25:16][1.9]

Bryce: [00:25:18] Yes, I do. So I have the S&P 500 and the Nasdaq. The Nasdaq one I have is a concentration of the top 100, I'm pretty sure. Yeah. Both of which I take a leveraged position on through the ETFs. But that's just a personal opinion and I don't recommend everyone doing that. [00:25:37][19.7]

Alec: [00:25:38] But and for people that don't understand it, it's not worth explaining. We might do something on it later. But really just forget that Bryce said it. [00:25:47][9.3]

Bryce: [00:25:47] Yeah. Fair call then. I also have exposure to some alternative assets, so I have a bit of infrastructure and property through ETFs. I also have a very diversified ETF that gives exposure to a mix of bonds, gold, as well as both European, American and Australian stocks. So it's [00:26:16][28.3]

Alec: [00:26:16] just everything. [00:26:16][0.2]

Bryce: [00:26:16] It's yeah, yeah, it's very diversified. I would classify that as my sort of safe ETF that really doesn't move relative to a lot of the other more country specific ETFs. And then in terms of somatics, I've got things like cyber security, sustainability and a couple of other bits and pieces. [00:26:38][21.5]

Alec: [00:26:39] How how many investments in total in your portfolio? [00:26:43][4.0]

Bryce: [00:26:44] About six. [00:26:45][0.5]

Alec: [00:26:45] OK, yeah. [00:26:46][0.4]

Bryce: [00:26:46] Yeah. But then what I do is for those core, not so much the mathematics, but for the core. I just buy into them every quarter without fail. OK, yeah. And that, that's just my strategy. The cymatics again into the quarter. But my, the majority of my income will go into those three main country specific stocks that are all geared. [00:27:12][25.7]

Alec: [00:27:12] And how much money do you have that going. [00:27:15][3.3]

Bryce: [00:27:17] So that's kind of how I work my passive approach. Every single pay I'd put money into my brokerage account and then that just ticks away. I know that it sits in there for a quarter doing nothing because it's going to be in cash. But I know every quarter I'll then just make the same amount across three index funds, bank rock and roll. [00:27:36][18.3]

Alec: [00:27:36] God, your boring. [00:27:37][0.6]

Bryce: [00:27:37] I also do have a managed fund which is part of my core portfolio. [00:27:40][3.1]

Alec: [00:27:41] Yeah, yeah. Yeah. No that, that is, that makes a lot of sense and that is the boring, slow and sensible way to get rich. [00:27:49][8.1]

Bryce: [00:27:50] Yeah it is pretty boring. [00:27:51][1.0]

Alec: [00:27:51] Yeah. What boring. Shouldn't be a pejorative term when it comes to investing. Boring is perhaps the best way to invest. Yeah. [00:27:57][6.4]

Bryce: [00:27:58] Yeah. So how do you do your call us crunches. [00:28:02][4.3]

Alec: [00:28:07] So similar approach in terms of my personal finance habits. You know, we've touched on in previous episodes how you missed it. Thirty Toub Excel spreadsheet tracking where every cent goes. I, I am not as good in terms of tracking my personal finances, but what I do is every time I get paid, the first thing I do is transfer a set amount. Out of my bank account into a brokerage account, so it's out of sight, out of sight, out of mind, it's like for saving [00:28:41][34.0]

Bryce: [00:28:42] before even paying rent. [00:28:43][0.8]

Alec: [00:28:44] Yeah, actually, it's really annoying my rent. We pay like the Friday before the Monday that I get paid. So that's the last thing. It's yeah. It's always touch and go at the end of the. No it but yeah for me that's just that's like the way that I enforce discipline on myself because I am not disciplined enough to like track it throughout the fortnight. So I figure like if I build a structure in place when I get paid, it enforces discipline for the rest of the fortnight. So that's, that's how I get it into the brokerage account. And then I take a similar approach to you. I probably buy more frequently than you. I will probably try and buy monthly. I don't check my portfolio that often, but, um, things sitting in cash for too long start to make me a little bit like, oh, look, can I borrow? Um, and I find that if there's too much cash in there for too long, I'll start buying individual stocks. Yeah. You know, I'll come across companies that are just doing amazing things or run by amazing people. And I'll hear one of the CEOs interviewed or I'll listen to an earnings call. I'll read something. I'll be like, oh, these companies stick to a bit of research on them and then invest. And so I find that. Trying to invest my passive stuff more frequently, again, just restricts the amount of money that I can put into individual stocks. So that's that's sort of my process in terms of what I own. So a couple of the major indexes, the ASX 200, Nasdaq 100, a little bit of European as well, and UK. And just because in my mind, you know, the US has had an incredible decade of outperformance performance. But, you know, if you look back in market history, it's rare that the same country or the same continent does the best decade after decade after decade. So you want to be globally diversified and some Asian exposure and some fantastic exposure through a couple of thematic ETFs and then two managed funds that I consider just core. Dollar cost average into investments, and so for me, that's that's my core portfolio. [00:31:01][137.8]

Bryce: [00:31:02] Yeah, nice. So we also do run a bit of a satellite approach, which is, in other words, an active approach moving away from ETFs into individual stock picking. How do you play that game? [00:31:12][9.9]

Alec: [00:31:12] By trying to find companies that with like decades long growth potential companies that, you know, in the middle of like industry disruptions or industries with incredibly good tailwinds or some form of structural advantage or moat that just have dominant positions in their in their field. And that I can you know, you obviously have to watch them. You have to keep an eye on them. But that I don't need to be watching the market every day for. [00:31:45][32.2]

Bryce: [00:31:45] Yeah. Yeah, great. I also have to take a bit of a satellite approach. I feel like it's far less active than the new Ren. I feel like I don't have the time that I would like to sit down and do enough research properly. Yeah, I did. I did buy into Spotify recently. I mean, I did buy into Airbnb recently, but yeah, I haven't been able to give it as much time as I would like. So that's kind of a wrap of where we are. Ren would you do anything differently if you had your time again? [00:32:18][33.1]

Alec: [00:32:19] Yeah, 100 percent. I would definitely start with a passive approach and buy a broad market index and understand the stock market. What drives returns. Read more, listen to more podcasts. Before I decided I was a value investor and bought my first individual company. Yeah, it was available to us. It definitely wasn't as widely used. And ETFs weren't so much a thing to invest in these funds privately, but that's really no excuse for from us. Like we just not do it. Yeah, but yeah, if I had my time again, it is very much dip your toe in the water situation. [00:32:56][37.1]

Bryce: [00:32:56] Yeah, yeah, yeah. Look, no surprises that it's the same in my side. I mean I was pushed in the right direction. Yeah. [00:33:02][5.8]

Alec: [00:33:03] Yeah definitely. Yes. [00:33:04][1.0]

Bryce: [00:33:04] When off track. And now, now we're back. But look, it's all a learning experience. I think that's the main thing you've seen through Ren and I that you can start on one direction, move to another and then you will [00:33:15][10.2]

Alec: [00:33:15] eventually get started on one direction. Went to Justin Bieber now and Taylor Swift, he's going through all the jokes. [00:33:21][6.1]

Bryce: [00:33:22] And we will it's it's all you know, you have the ability to make your own path and you find out what type of investor you are as soon as you get started. It's not something that you'll likely be able to figure out before you do. So that brings us to the end of our three episodes on investing styles. We hope that you've been able to maybe figure out who you are or at least be encouraged to start down a sit down or a particular path. But Ren, that's [00:33:49][26.6]

Alec: [00:33:49] that's a wrap. That's it. We have an interview next week, and then we're going to come back with another chapter and unpack another investing theme. If you guys have suggestions or questions or things you would like us to cover in these three part chapters, hit us up Contact@equitymates.com or on all the socials or in the Facebook group. Um, you know, for us, Get Started Investing feed, we really want to be responsive to the questions that the Equity Mates community have. So let us know and we'll we'll do some content on it and hopefully answer everyone's questions. [00:34:26][36.6]

Bryce: [00:34:27] Nice. Alright, we'll leave it there and we'll pick it up next week. Sounds good. [00:34:30][3.0]

Speaker 3: [00:34:31] Get Started Investing feed is a product of Equity Mates media. All information in this podcast is for education and entertainment purposes only. It is not intended as a substitute for professional finance, legal or tax advice. The hosts of Get Started Investing feed are not financial professionals and are not aware of your personal financial circumstances. Before making any financial decisions, you should read the product disclosure statement and if necessary, consult a licenced financial professional. Do not take financial advice from a podcast. For more information, head to the disclaimer page on Equity Mates website where you can find ASIC resources and find a registered financial professional near you in the spirit of reconciliation, Equity Mates media and the hosts of Get Started Investing feed Knowledge, the traditional custodians of country throughout Australia and their connexions to land, sea and community. We pay our respects to their elders past and present, and extend that respect to all Aboriginal and Torres Strait Islander people today. [00:34:31][0.0]

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