Overwhelmed by graphs and Google? How to go about your research journey | with our YIGC community

Maddy Guest: [00:00:55] Hello and welcome to another episode of your In Good Company, a podcast for like-minded people who want to make smart investment decisions. I'm Maddie and as always, I am here with my good friend Sophie. [00:01:07][11.4]

Sophie Dicker: [00:01:07] Hello, Maddie. We have got a very hopeful episode and you today. But before we start today's episode, we'd like to acknowledge and pay respects to the wonderful people of the island nation who are the traditional owners of this land. We pay our deepest respect to the elders past and present and to the next generation who we hope to create a different future for. [00:01:28][20.7]

Maddy Guest: [00:01:29] So so we have spoken so much over the past month or so about the basics that we need to know to invest in the stock market. We have talked about how the broader economic environment can impact our investments and how this can be used to spot investing opportunities. We also talked about the company's balance sheets and income statements and how we can use this information to formulate our opinions about a stock. But today we want to talk about where we can actually find this information. We realized we hadn't really covered this. And we want to talk about some practical and I guess sort of easy to understand resources which can help us to identify what we want to invest in. Yeah. [00:02:07][37.8]

Sophie Dicker: [00:02:07] In this digital age, we have access to so many resources, [00:02:10][3.2]

Speaker 2: [00:02:11] like too many, arguably. [00:02:12][1.0]

Sophie Dicker: [00:02:13] Yeah. But I feel like you can just go down like it's overwhelming. If you Google something, it's like there's 100 things you can look at this one, 100 opinions. Like it's scary. But you know, we have podcasts, blogs, YouTube, and then you're more traditional forms of your newspaper and books, which are also very useful resources. But I also think exposure to too much information can be quite detrimental, as everyone does have those differing opinions. And sometimes it really can be hard to filter out like media buzz, I guess, and noise around certain companies. [00:02:41][28.0]

Maddy Guest: [00:02:41] And I guess what we want to like. The other big thing about that is, is you don't want too much information to just put you off doing it altogether. Like sometimes you I'm a little bit overwhelming. So, yes, that we have access to so many amazing resources. But I don't let that overwhelm you and stop you from researching anything or listening to anything. So today we want to talk through what our key resources are that we're going to hear. We've also brought in some of our community members to talk about what their research processes look like just to try and break that down for our audience and hopefully give you some inspiration. [00:03:15][33.6]

Sophie Dicker: [00:03:16] So Maddie if we start with you, what does your research process actually look like when you're buying it, I guess a stock or an ETF? [00:03:23][7.5]

Maddy Guest: [00:03:24] Yeah. So I guess maybe to sort of paint the picture, I might tell a story about, I think when I start investing. So I only invested in ETFs and then one of the stocks that I invested in, I'll sort of share the story of how I got to sort of saying a news story and how that led me to buying. So loyal listeners of this podcast who know that I love Chase this year. And one of my favorite ways to chase is in a toastie. I had heard this story about how people discovered really early and they talked about how they were in change rooms at shops, and they saw the sticker on the mirror and they saw it at the front desk and now paying for things. And I was really trying to look around me and be like, hey, so what's the next after Feighan event? Like, what's missing thing? What the is around me that I love, that I'm using, that I couldn't live without, you know, that maybe could provide a great investment opportunity for me. And then one day I was making a toast and I looked down at my toasted sandwich maker and I saw many of my housemates give me so much flak for this because Frebel was my best investment. And I just think that it's weird, but I haven't really explained them. So I will do that now about how I actually got to this point. So I actually had about a story in the IFR and it was as covid was sort of breaking out across the world. And the headline was something along the lines of like Breville as growth as consumers bunkered down. And I was like, OK, this sounds good. And expanding into Portugal, Mexico and Italy. And like all of those countries are just great. And I was like, I can totally love days. [00:05:12][108.4]

Sophie Dicker: [00:05:13] They'll be using making toast. [00:05:14][0.9]

Maddy Guest: [00:05:14] Exactly. And I could just really save travel ban. I just felt right anyway, I don't have it day by day. I am not like about that. So I researched this article and I started looking around a bit more and doing some research. And then I came across what has become one of my favorite race for investing. And it's this podcast called The Coal. It's linked to a sort of program called Osborn's. It's an app. It's a website. Check out all CBIZ. But in particular, they have this daily podcast or daily program called The Coal, and they get to fund managers in and they take people who listen and people send in stocks that they want to hear broken down by the managers and the two fund managers talk about I think it's about 10 stocks in an hour or something like that. And they write down what they think is the key opportunities, the race and whether they think they believe it's a buy, hold or sell. [00:06:10][55.9]

Sophie Dicker: [00:06:11] Awesome. [00:06:11][0.0]

Maddy Guest: [00:06:11] And the reason why I love this race or so much is because when I'm looking at stocks, you know, I can really get around a story. I can understand that kind of, you know, the trajectory that it might be on. But it's when it comes to sort of the more financial stuff that I'm just a bit less experienced and I get a bit more nervous. And I find that this program is amazing for breaking down the things like their profitability, how much debt they have. And they talk about that in really simple terms that I can understand. Yeah. And I just sort of helps me to get my head around that side of the investment. So I don't feel like I'm going blind on that. Yeah. So the Cole is an awesome resource. Anyway, I write in or I think they maybe spoke about Breville on it and they. Yeah, I think they said it was Abi and I was like, well that's done for me. And then you felt confident enough to realize exactly love. [00:07:01][49.2]

Sophie Dicker: [00:07:01] But that's a good story. What about you? [00:07:03][1.9]

Maddy Guest: [00:07:03] What is your sort of goiter process? [00:07:05][2.4]

Sophie Dicker: [00:07:07] I think I'm similar in terms of the like taking like the environment around me. So you toastie machain, I guess I don't make Toasties that often. So maybe it's time to buy into Brabo, but I am similar. I tend to be a bit of a thematic investor, which is you're investing in kind of trends that are happening specifically. I've been I have bought into a bit of tech in the past. The work had to write a paper on 5G, which is like the next network, and it was talking about how we're going to have so many more devices that are going to be connected to the cloud and it's just going to be at capacity CERN. So I was like, oh, that's interesting because, you know, maybe we don't have the right cloud capacity. So I started looking into cloud companies and what companies you could buy into because they have potential growth opportunities in the future. Similarly, I was listening to a podcast that was talking about I think this was just a news podcast and it was just saying there's a shortage of like microchips in the world. [00:08:04][57.8]

Maddy Guest: [00:08:05] I listen to that one, too, actually. I remember that. [00:08:07][2.3]

Sophie Dicker: [00:08:08] Yeah. And I think, like, it was just a daily podcast. It wasn't me looking into any specific, like, business podcast or anything. But when you think about it, you know, iPhones, computers, everything we use every single day has a microchip in it. So if there's a shortage of them, like there's probably an opportunity there somewhere, I haven't bought into any microchip companies, but it was like it gave you a place to start your research. [00:08:30][22.7]

Maddy Guest: [00:08:31] Yeah, absolutely. [00:08:31][0.3]

Sophie Dicker: [00:08:32] Yeah. So I'm I'm really similar. I honestly just taking the world around me. I know that some people, if they're if they don't do that, they use things like stock screenies and stuff where they put in specific metrics. They like the more bottom bottom up approach, but in specific metrics. And they'll find companies that way. But I think I'm more environment intermarket in the industry. [00:08:51][18.8]

Maddy Guest: [00:08:52] And can you do that? Those sort of like stocks graining, can you do that on your broker? Where do you actually do that? [00:08:57][5.3]

Sophie Dicker: [00:08:58] There's different programs you can actually use. Like I think there's a couple of paid programs. I think simply Wall Street, which is a resource I do use, has one. I actually haven't used the stocks. As I said, I don't really use that bottom up approach as much. But honestly, just give it a Google stock screener. If you've got certain metrics that you want a company on a fitting a bill, just Google it and you'll be able to find it. [00:09:19][20.8]

Maddy Guest: [00:09:19] One thing I did want to clarify simply Wall Street. We are going to talk about it a little bit today. Is it free? Are there parts of it that are paid? How does it work? [00:09:27][8.1]

Sophie Dicker: [00:09:28] Yeah, look, with any kind of resource, there's always potentially fees. There definitely are fees, but simply wall show you there is also a free part. You can you can look at five companies and they have five companies on your watch list for free. Otherwise it's just a monthly fee. So if you're really, you know, wanting to get into your investments, it's an amazing, amazing resource. So Mad's quickfire for the people, if you could give me a couple of your to resources, [00:09:52][23.9]

Maddy Guest: [00:09:53] what would they be? Yeah, so I would say the coal what I talked about before just gives me confidence around some of those financial metric bits that I don't feel so confident about learning myself. The AFAS, such a great guide, her race just rating the paper, any paper for sort of understanding what's going on in the business world at the moment. And then sort of, I guess on that same trend is news podcast every morning I. Squeers to the briefing to what the flock's, and they just give me a really good sense of what's happening so that I feel like I'm sort of across that and I can be thinking about how, you know, broader events or things that are happening at the moment might be impacting my investments or by the same notion, creating investment opportunities. [00:10:34][40.8]

Sophie Dicker: [00:10:35] What about you? I will add to the podcast list podcast person. The news briefing and business was daily. They are just adding to that list of the squeeze briefing. What the fuck's. They're all amazing resources. Just to give you a broader perspective, as I've already mentioned, simply Wall Street, it just has really great information about companies. It's very simple to use, very simple to understand. And if I was going to give you a boom, because I think you should try and pick up a book if you can at some point. Right. About investing the Motley Fool Beginner's Guide to investing. It would be my recommendation. And now we are going to jump across to the chats with three of our community members about they're going to raise the prices [00:11:17][42.1]

Maddy Guest: [00:11:17] in a very big welcome to one of our community members. Hello, how are we today? [00:11:24][6.2]

Kate: [00:11:24] Great things, lady. Thanks for having me. [00:11:26][2.1]

Maddy Guest: [00:11:27] Are so very welcome. So we'll get straight into it. Kate, do you have any daily habits for getting across the news? And I guess sort of the finance news in particular each day? [00:11:37][10.2]

Kate: [00:11:38] I do. I work in finance and naturally I would read newspaper like The Australian Financial Review and The Australian Business Review. Sometimes it may be only like five minutes, but every minute counts. [00:11:50][12.1]

Speaker 2: [00:11:50] Yes, yes. [00:11:51][0.8]

Sophie Dicker: [00:11:51] Very true. You have like a daily habit where you, like, open it up in the morning and put it on your computer screen before you start work. Or do you kind of browse it during the day? [00:11:59][7.4]

Kate: [00:12:00] No, I'll do it before I open up my emails just because I know if I open up my emails, I will prioritize those rather than I would never get to the paper. In that case, [00:12:12][12.0]

Maddy Guest: [00:12:12] your money is done. And do you have any tips for, I guess, making that learning process sort of less stressful or more fun? [00:12:21][8.6]

Kate: [00:12:22] Yeah, I do. I think it's super important to find what best works for you, and it doesn't have to be a task. It could be as easy as getting coffee with a friend and chatting about investments, but you just need to have fun with it. I think one of the best processes my partner and I started was our own at nights. [00:12:44][22.6]

Maddy Guest: [00:12:45] Oh, I love it so much. [00:12:47][1.8]

Kate: [00:12:49] I started using it as a means of entertainment. So we got really bored, as you know, I thought we each had to choose three ETFs and each ETF had to be from a different provider like Beautician's iShares and Vanguard. [00:13:06][16.6]

Sophie Dicker: [00:13:08] For people listening. What are Beta shares? Vanguard and iShares. [00:13:12][3.8]

Kate: [00:13:14] so they are all separate platforms that pretty much offer ETFs, which are exchange traded funds. But you can find heaps of information directly through their website. It's great they have factsheets for each ETF, which you can find on the respective pages and download that they usually a one or two page summary on the actual ETF. I'm highlighting all the the main points on on them, which is super cool and concise. [00:13:46][32.2]

Sophie Dicker: [00:13:48] What kind of information is on those factsheets that you kind of look at and you maybe potentially been using in your pitch? [00:13:53][5.7]

Kate: [00:13:54] Not the information on those platforms that we would also use during our pitch nights would be investment objectives and overviews, whether that be India focused, emerging markets, industrials, ETFs. We'd also look at the management fees, what the benchmark or index was, the weightings and portfolio holdings, whether they were market cap or equal weighted. And we would also look at why to explain why we chose that ETF over the exact same ETF, but just on a different platform. Just why we would I would look at that and it was great because it was just a way of learning and also identified what I wanted in an investment. So I looked at management fees and weightings and what I wanted, growth or diversification. But it was yeah, it was it was also good in that I wouldn't choose some of the ETFs that he would choose. So when he'd present them, it'd be kind of like a shock to me because I'd never even look into it. So we had five to ten minutes to pitch the actual eighth and also answer any questions that the other had. [00:15:12][78.2]

Sophie Dicker: [00:15:13] That's the best thing about sort of chatting to other people about this stuff is. Ideas and things that you never thought about sort of come into light and it makes you sort of reconsider your initial thoughts. You mentioned waiting in there that sort of on the factsheets. Can you just explain really briefly sort of what you mean by that with waiting? [00:15:32][19.7]

Kate: [00:15:33] So by market cap and equity weightings, I pretty much look at that as a pie. And for an equal weighted ETF, the pie is equally broken down, whereas market cap ETF is broken down. The biggest slices are the companies that have the biggest market cap. I was just going to say one of my first ETFs that I pitched Medy was actually the Vanguard Australian ETFs, which I saw was your first investment. Great minds think alike. [00:16:08][34.9]

Maddy Guest: [00:16:09] Absolutely. It is one of the ATF that you guys stick out is like someone pitched that really well. [00:16:15][6.0]

Kate: [00:16:15] I pitched in ETFs I endi, which is beat iShares India Quality ETF, and that was just different to anything I had pitched before. So I really liked it because India, high population growth, heaps of tech potential. Obviously it's having some issues recently with covid, but back then I thought that was a great one. But that was, that was like a really standout pitch. [00:16:44][28.4]

Sophie Dicker: [00:16:45] Now, our last little quickfire question for you, if you could recommend one, go to source for your investing information, what would it be? [00:16:53][8.9]

Kate: [00:16:54] I would highly recommend your brokerage platform, whether that be NAB Trade or COMSEC. Correct me if I'm wrong. I think the big four have a brokerage platform. Yes, all of them Druidic. I find them really powerful. The best part about it is you can make a watch list. So even if you're interested in a company but don't really want to act on it just yet, I think. Add them to your watch list. Come back a couple of days later, a week later in and go through that company again. You can also set alerts for announcements as well. So once a company releases any announcements or info, it will let you. And I find that super handy. [00:17:40][45.3]

Sophie Dicker: [00:17:40] Awesome. Yeah, I think those platforms can be great. My house that was actually signed the other day, he's got Comsec and he watches the little market updates that happen every morning. So it's a great little video. If you're into videos, then you can watch. Watch that on your platform. [00:17:53][12.8]

Kate: [00:17:55] Yeah, absolutely. [00:17:55][0.4]

Maddy Guest: [00:17:57] Thank you so much for joining us. [00:17:58][1.4]

Kate: [00:17:58] Thanks for having me. [00:17:59][0.7]

Sophie Dicker: [00:18:00] We are loving speaking to some of our community members today, but we will be right back after we take a quick break from our sponsors. [00:18:06][6.3]

Sophie Dicker: [00:18:28] We are currently joined by another one of our community members, Zach, welcome, Zach, how are you today? [00:18:33][5.2]

Zac: [00:18:34] Great, thanks. Thanks for having me. [00:18:36][2.1]

Sophie Dicker: [00:18:37] No worries now. Yesterday, we had a bit of a chat offline about your research process, and you were saying that you have some specific factors that you look for when you're deciding whether to invest in a company. So I thought if you could run through some of these factors and link them to a resource where you find that kind of information. [00:18:54][17.7]

Zac: [00:18:56] Sure, of course. I definitely do like to get into financial metrics of the company. You know, I think what you guys call the scary the scary numbers, [00:19:07][10.7]

Sophie Dicker: [00:19:08] scary numbers [00:19:09][0.4]

Maddy Guest: [00:19:10] could be a mistake. [00:19:11][0.7]

Zac: [00:19:13] I definitely like to get into the scary numbers. I think we won't get into exactly the nitty gritty that I look for. But I think jumping onto the ASX website and looking at all the company's financial reports, I think that's a great resource. And you might just want to go to the company's website in their investor center, because not only will you get their financial reports, but you can start reading about about a company, about their history, about what they do sometimes, about the directors and management and all that stuff. To me, it's pretty important night. [00:19:44][31.1]

Sophie Dicker: [00:19:44] And I know that we spoke a little bit about some of the other factors that you look at. One of the ones I found interesting was insider investment. Can you explain, like, I guess what this is and where you kind of find that information? [00:19:56][12.0]

Zac: [00:19:58] Yeah, I think that insider ownership to me is really important. So that's really how many shares are held by company insiders, whether it's the board, whether it's management CEO, whether it's employees. And that basically tells me, you know, do does the company to the people who run the company have skin in the game? You know, shareholders interests align with management. I use a tool called simply Wall Street. It's paid for platform. It's really easy to use if if people are interested, they can go take a look. That's usually where I get my insider holding information. [00:20:36][37.7]

Maddy Guest: [00:20:36] And what about we did talk about how you like to look at sort of some of the metrics in particular. So maybe revenue, for example, where do you actually find that information? [00:20:44][8.0]

Zac: [00:20:46] So I think in terms of revenue and profits, you can take that straight from any report. So if you're getting that from the company's website, they do have a say. For example, its financial year 21. They'll also have a financial year, 20. Sometimes even they'll go back a third year. So you can see how things are moving on a two or three year time scale. And maybe you get the previous year's report, kind of put them together and have a look. I think growing that's from a revenue standpoint, similar to a profit standpoint. [00:21:15][29.1]

Sophie Dicker: [00:21:16] Yeah, I feel like I found that also in my brokerage app, you can find some of that information as well. And it's pretty easy to compare, like you can see, like year on year how things are happening. I mean, I guess pretty easily that you can identify if something's going pretty poorly and you can identify something that's going pretty well when you can, I guess, compare the year on year. Correct. Now, the last fact is that we also discussed was culture, which I thought was a really interesting one. Did you want to delve into that a little bit? [00:21:43][27.4]

Zac: [00:21:44] Yeah, I think that a company's culture is an important metric, an important measure of how how good a company is. And the companies that I like to kind of be a part of it, the shareholder, you know, do their employees like working that? Do they like what they do? So there's a great employee review platform called Glassdoor dot com. So if you want to sign up, you have to leave a review of your employer. So there's just heaps and heaps of employee reviews. They also have these two metrics. One is how likely would you be to recommend working here to a friend and a CEO approval rating to very easy metrics to judge a company, whether people like working there and to people approve of their leadership. And then you can also go in and have a look at some of the company benefits that people have posted in some of their company reviews that basically tells me whether it's a great place to work or not and if that's a great place to work outside, they're probably doing good things. [00:22:47][63.4]

Sophie Dicker: [00:22:48] Yeah, I think that's a great point, because at the end of the day, if people love their job and they like where they work, they're going to work harder, which means that they're going to probably perform better. So I think that's a really interesting metric and thing to look at when you're actually thinking about investing decisions so that for those who maybe aren't as interested to sort of getting into the more heavy research and of digging up some of the financial statements, do you have any other tips, alternative ways that you've researched always that you've sort of spotted investment opportunities in the past? [00:23:21][33.6]

Zac: [00:23:22] Well, I think the hardest thing to do when you're getting started especially is knowing where to start, knowing how to filter things and what to look for. I know when I started my journey, and it's a pretty common theme, is to go with what you know and you love me. Like I look down on my feet and I see Nike's I look down on my basketball shorts and I see Nike I know I love and aligned with Nike. That was a great investment idea. And that's what put me down the path to looking more and more into the company. Similar with Disney. You know, I love my Marvel movies and Star Wars and I love all the media that they put out. So I look into a company like that and that's a nice blue chip company that helped stop my portfolio. So I'd recommend just looking around what you use in your everyday life. That's a part of your life. That might be a good investing idea because then you're getting value from something that you're also using. [00:24:15][52.4]

Maddy Guest: [00:24:15] Yeah, I think that's a great point. We joked the other day that I love wearing Lululemon leggings, and my friend said that her boyfriend said to her, don't buy Lululemon leggings by Lululemon stocks. [00:24:26][11.1]

Zac: [00:24:29] I'd recommend doing [00:24:30][1.0]

Sophie Dicker: [00:24:34] look good while doing sport and build up your well. So, Zach, our last question that we have been asking our community members is, are there any other resources or any of your go to resources that you haven't mentioned that people could find useful? [00:24:49][15.6]

Zac: [00:24:51] One I probably haven't mentioned. I use a website called Seeking Alpha. It's a great research. Specifically for American stocks, I do like to invest in America. You can put together watch lists and a bit of a mini portfolio and helps keep you up to date with news and alerts. And you can pay for opinion pieces and things like that. Otherwise, get on any great brokerage job that will come out with any of your news alerts and company alerts and so on, as you can create a watch list and track the things that you're looking at. [00:25:22][30.5]

Maddy Guest: [00:25:22] I think that's great advice. Thank you so much for joining us. [00:25:25][2.4]

Zac: [00:25:26] Thank you so much for having me. I appreciate it. I appreciate what you guys are doing. [00:25:28][2.5]

Sophie Dicker: [00:25:29] We are joined by not only our friend and one of our community members, but also our lovely producer, Sasha. Welcome, Sasha. [00:25:38][9.0]

Sascha: [00:25:39] Hi Maddie and Sophie. [00:25:39][0.4]

Maddy Guest: [00:25:41] Sasha. Just wait. No, I can say this is the podcast. [00:25:45][4.3]

Sascha: [00:25:48] No, thanks for having me. [00:25:49][1.0]

Maddy Guest: [00:25:50] Sas these days when we type sort of a company name or an ETF into Google, you can go down such a rabbit hole with all of the information that we have access to. So do you have any tips on how to sort of navigate this? [00:26:02][12.7]

Sascha: [00:26:03] Oh, that's such a good question. So I think usually I have an idea of what I'd like to invest in, and that's usually after listening to either you guys or equity mates or get started investing, I'll go. Oh, that's that's an industry that's really interesting to me. So very context. I've only been investing for about six years, which sounds like a lot, but I don't think it's been very, very like I've just had a listed investment company the whole time, which is basically like a company that invests in other shares on your behalf, a bit like an ETF, but basically like I just try to read as much as possible. And there's been a couple of books that have recommended screenies in them. So they'll give you like the data of what is scary numbers at the side. They'll give you some guidelines. So on Comsec and simply Wall Street, they both have really great screenies that you can put in and you can say, I want a company that's had growth for the last five years of over 10 percent, or I want a company that doesn't have this much debt or I want a company that has this kind of revenue amount because that stuff is important. I'm still kind of learning what's really important and what's not. And trying to be more convinced about what I buy. And what I do is I kind of like enter those screeners. And while I'm looking and if the same name kind of pops up in a few different places and then I'll go to Comsec and you can download basically all of their financial reports, the company reports, you can see if there's anything that's really alarming. You can say whether people inside the company, whether the board is buying more, even though the price of the share is dropping. So I'll read those to the best of my ability. And if they're still if I'm still kind of convinced that something I want to invest in, I usually go to Google News and I type in the names of the company and the CEOs and the board. And usually what I'm looking for is like legal stuff, because I know from my perspective that there's often companies that look like they're doing really well or and I've worked for them as well. Like, you know, when you working, there's companies that are making a lot of money, but it's not very nice to work there. And you can kind of find that stuff out now online. And there's a couple I won't say anything because I don't want us to get. So I don't know. There's a couple of companies I can think of that I've gone to dinner and talk to friends and be like, oh, I've been looking at this. And they'll say, oh, I've heard, you know, they're in court settling something at the moment because the CEO has been bullying someone or they're having troubles with this new thing. And obviously there's stuff beyond management, like there could be IP things like intellectual property or there could be other hold ups that obviously the companies aren't going to put that at the forefront in their investing documents. So I think it's important to look beyond the numbers as well. [00:29:07][184.0]

Sophie Dicker: [00:29:08] So when you're looking at your information, you've got a couple of information sources that you mentioned simply Wall Street, Google News, CommSec, I guess every analyst or every ride or anyone who puts anything out there on the Internet does have differing opinions. How do you trust which sources to go to and I guess what philosophies to believe in? [00:29:27][19.5]

Sascha: [00:29:27] Oh, that's such a hard question. I think the best advice that I can I've read like I'm reading one up on Wall Street at the moment and I listen to all the different analysts that the guys interviewed. And I think what keeps coming home to me and something that I don't think I'm necessarily convinced of all the time is having conviction in a stock. And so even when it goes down, having the guts to be like, you've got your little one pager that you can be like, no, it is. Totally going to make money, and so for that reason, I really lean more towards ETFs and stuff. An example of that is like I bought this share like a couple of weeks ago because I did all the screeners that I read a list off and I read all the financial documents and I was like, I think it looks OK. And then I bought it and it went down by a cent overnight and a look. And then and then I read an article the next day it was this analyst being like that shares sucks. No one should buy it. It's terrible. And I was like, it is terrible then. And I remember this woman that the guy's interviewed like a little while ago. And she was just like, there's nothing wrong with admitting that you make a mistake and if you decide that the day after, just sell it. And so I was sitting and I'm like, I'm already so stressed. I've already read this article that's telling me I'm wrong and I'm doubting myself. This is not worth it. Like I've just got to sell out. And if it runs and it makes millions of dollars, I'll just be like, oh, well, my mental health is OK. So I just so I guess, like, that's a really long way of saying you have to learn to trust yourself and you have to learn your own parameters. And I realized like a I don't like losing a thousand bucks. Be like even though I'm doing all this research and I'm writing stuff, I'm still trying to work out what I'm convinced of, things maybe I've read things it idiot. I just like buying them. [00:31:26][118.8]

Maddy Guest: [00:31:27] I think they're selling very relatable to be honest. And I think that's why like so if you and I both talked about this before. But, you know, we do like to sort of trial, not trial lock, but, you know, do our research and invest in individual stocks a little bit. But definitely sort of the bulk of our portfolio is. Yes. And I think it's for that reason. Exactly. Yeah. So if you could read one thing for the rest of your life, what would your go to source? [00:31:52][25.5]

Sascha: [00:31:54] I'm just going to have to say it could do it because it's my job [00:31:56][2.2]

Maddy Guest: [00:31:56] that includes Usrah [00:31:57][0.7]

Sascha: [00:31:59] exactly every little plug and also about golf. And so I can't say that I've read, but I do say like every day there's an Australian Financial Review at my work and I try to flick through that every morning and and then like books about investing. So I think like one up on Wall Street, I'm really enjoying. [00:32:19][20.4]

Maddy Guest: [00:32:20] We did say one bit, OK, yeah. They say [00:32:22][2.1]

Sophie Dicker: [00:32:23] that. I know. [00:32:23][0.5]

Sascha: [00:32:26] I'll I'll cut it down and fast I'll pick one and cut it down [00:32:29][3.2]

Sophie Dicker: [00:32:30] as so they say that every investor should read five investing books over their lifetime. Doesn't need to be straight away, but you'll always pick something valuable out of a book. So we've got some investing books and start with one stop for me. [00:32:43][12.2]

Maddy Guest: [00:32:43] Yeah. Thanks so much for joining us. Cash. [00:32:45][1.8]

Sascha: [00:32:45] No problem then. Pleasure. [00:32:47][1.4]

Maddy Guest: [00:32:49] And we hope that you enjoyed today's episode chatting with some of our existing community members. We would love you to connect with us on Instagram at YIGC podcast or on our Facebook group at YIGC Investing Podcast Discussion Group and share any resources or tips that you have found useful for your investing research process. [00:32:49][0.0]

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