EM Chat: Bold Predictions – Who Came Out On Top?

Bryce Leske: [00:01:28] Welcome to another episode of Equity Mates, a podcast where we follow our journey of investing. We break down the world of investing from beginning to dividend so that you can hopefully make some returns. My name is Bryce and as always, and for the last time in 2021, I am joined by my equity buddy Ren. How's it going? [00:01:46][18.5]

Alec Renehan: [00:01:47] I'm very good Bryce. [00:01:47][0.6]

Bryce Leske: [00:01:47] I just said 2021. [00:01:50][3.1]

Bryce Leske: [00:01:54] That's why. That's where our heads are up. [00:01:56][1.7]

Alec Renehan: [00:01:56] Oh yeah. You're already thinking of the future as an investor that's thought you've got to do like [00:02:02][6.0]

Bryce Leske: [00:02:04] 2020 Sorry. Anyway, I've completely cut you off your intro there. How are you going? [00:02:06][2.9]

Alec Renehan: [00:02:06] I'm good. I'm good. This is our last actual or not actual episode, but our last, I guess, in sequence episode, our last episode of 20/20. And next week we kick off our summer series. I'm going to make a not so bold prediction that it's our best summer series yet. We again got a bunch of stocks as selected by the Equity Mates community, 12 in total. And we do a deep dove, one stock, one company per episode with a little added bonus. This year, we've managed to track down some of the CEOs of these companies and we've spoken to them about the companies that they run. So a little bit of extra content and a little bit of extra insight from some of the people at the top of these companies. So I'm really excited for next week to get them out. But before we do that, we've got a good last episode here. [00:02:59][52.8]

Bryce Leske: [00:03:00] We do Ren. And I agree, the summer series, best one to date last summer series was all about the smallcap unprofitable Australian companies. This year we had some of the bigger companies in Australia and not all of them profitable, but at least there was some meat on the bone enough for us to talk about. So definitely tune into those over the summer while you're enjoying some hopefully some time off work as well. But Ren, as always, the last episode of the season is about our bold predictions for 2020. If you have just joined the Equity Mates community and this is your first episode, welcome. At the start of each year, Ren and I usually sit down and get together a few bold predictions as to how we think the market is going to play out over the year. And I think we usually put a couple of beers on the line. We also choose a stock each at the start of the year as our stock of the year, and then we'll review all of that in this episode. [00:03:54][54.6]

Alec Renehan: [00:03:55] Yeah, Stock of the Year is segment that I really need to lift my game on. We'll see if I've done it this year, but the last few years have been not so good. Do we want to start with that or do we want to start with the bold predictions? [00:04:06][10.8]

Bryce Leske: [00:04:07] Let's start with Stock of the Year. That's what we've got in our run sheet. [00:04:10][3.4]

Alec Renehan: [00:04:10] So, OK, all right. Well, should we just lead with the result and then talk about it? So once again, you've beat me once again. I've picked a stock that's lost value over the course of the year. I think the summer of twenty, twenty and twenty twenty one is going to be a real moment of reflection for me. I'm really going to think about my performance over the past few years. Look at what I've done wrong, where my analysis is broken down. I really need to listen. That's all you can do is learn from it, [00:04:37][27.2]

Bryce Leske: [00:04:38] learn from the mistakes, start journaling. Yeah. Tell you this [00:04:41][3.7]

Alec Renehan: [00:04:41] morning there's going to be some serious moments of self reflection. [00:04:45][3.5]

Bryce Leske: [00:04:47] But hey, credit where credit's due. You have picked some absolute screams in the hypothetical portfolio and that's where it counts. You chose Adam at the start of the year. Yeah. And it is unfortunately down thirty three percent. Yeah. To remind everyone what Adams is, it was a company that built add ons for cameras to help with video. Yeah. Do you know why perhaps it is down 33 percent or is it just Bandslam due to the covid and hasn't since recovered. [00:05:13][26.5]

Alec Renehan: [00:05:14] It was slammed during covid to give people some context. It lost almost 80 percent of its value. Wow. And the covered collapse happened. And I was looking I was not looking forward to this episode. Since the covered lows, it's up about two hundred two hundred ten percent. So it's coming back, but it's not nearly where it was pre covered. And I think the combination of, you know. Well, I think the main reason being a lot of professional, you know, movie sets or like film or camera work has been shut down because of closure. So that's obviously hurt the company who make Add-Ons for cameras. So anyway, that's, uh, that's a real disappointment for me. And I've got to say, I'm a little bit flat coming into this episode. I've already started my self reflection and I've got some thoughts that I'm going to bring into next year that I'm going to I'll share on the show. Nice. Let's talk about you, because you've had a bit of a stellar run with this Stock of the Year. Baby Bunting was your stock last year and it absolutely killed it. And this year you've stayed on the theme of retail. You are the retail whisperer. You do like to tell people that you're the number one retail investing expert in all of a. [00:06:26][72.4]

Bryce Leske: [00:06:27] Australia, not sure, but I'll take it. [00:06:28][1.8]

Alec Renehan: [00:06:29] And the Bryce Leskie Golden Torch has found another retail stock that has gone up this year. So tell us about your stock. [00:06:37][8.4]

Bryce Leske: [00:06:38] Thank you, Ren, for the introduction. I chose City Chic. Please note my pronunciation. I think I used to call it City Chick, and I copped a lot of flak in the community. [00:06:47][9.5]

Alec Renehan: [00:06:48] So we've both had a bit of I've had some feedback on how I say performance to get it right that you do. And you got a bit of flack for how you said city chic, [00:06:58][9.9]

Bryce Leske: [00:06:58] city city chic. Anyway, city chic. The stock ticker is C, C, X, and it is up from the start of the year, 17 percent. So carrying us home that Ren similar to all of the stocks did take a big beating from its high in February, got smashed right down to about two points, no less than a dollar sorry, eighty cents in March and has since recovered. It's up two hundred and eighty per cent since the low in March. Hasn't quite hit the high that it was before the market crash, but it's performed pretty well, as have a number of stocks on the ASX and globally. [00:07:36][37.7]

Alec Renehan: [00:07:36] It's just for people who don't have the the stock price in front of them rather than prices. Let's talk percentages. So it was up from the start of the year, up like 40 percent. Then it fell like, what, 80 percent from the from peak over to the the bottom of the market during clover. Yeah. And then it's up about two hundred percent from there, [00:07:54][17.8]

Bryce Leske: [00:07:55] giving us a total [00:07:55][0.5]

Alec Renehan: [00:07:56] sorry. Sorry 282. [00:07:57][1.0]

Bryce Leske: [00:07:58] Giving us a total of about seventeen percent since the start of the year. So I am happy with that. You've never heard of City Shake. It's an Australian retail company as we said, specializing in sort of plus size clothing for for women both here and over in the States as well. So I'm still pretty bullish on this one. Can you say how it plays out next year? [00:08:17][19.1]

Alec Renehan: [00:08:18] And that's one so we can well and truly say you've once again one stock of the year. Thank you. That makes it three from three. [00:08:24][6.6]

Bryce Leske: [00:08:25] Three from three. Chase wouldn't want me to go five, four and five. [00:08:27][2.4]

Alec Renehan: [00:08:28] Oh, no, I would not. So I think one of my big learnings this year, and this is applicable to my failure with Atomos, I think through this podcast, you know, as we learned about investing and as we spoke to the experts, I got very deep in looking at the numbers and, you know, looking at revenue growth and profit growth and stuff like that, looking at the key metrics like return on invested capital, return on equity and stuff like that. And I will definitely with atomos, I just looked at the numbers like qualitative sorry, the quantitative factors, the numbers, but not the qualitative factors. Like, you know, is this company actually better than other companies in terms of the products and services they offer? Do they have the great people around? And I think for me, next year the pitch is going to be more than just the numbers. Yeah, that's going to be my commitment. [00:09:15][46.3]

Bryce Leske: [00:09:15] Yeah. I don't I don't think I include any numbers in my picture. [00:09:18][2.6]

Alec Renehan: [00:09:20] Anyway, that's been my key learnings. So stay tuned because next year I'm going to that's my first bold prediction for 2014. [00:09:26][6.5]

Bryce Leske: [00:09:28] I like that good Segway though. [00:09:29][1.5]

Bryce Leske: [00:10:48] Nice Ren so bold predictions we've both made, I think, eight predictions at the start of the year. [00:10:53][4.7]

Alec Renehan: [00:10:54] I snuck an extra one. [00:10:55][1.1]

Bryce Leske: [00:10:55] It's not extra running, really hurt my percentage. So let's just go through them. We did do a recap, I think, midway through the year, but we will close it out now to see who has come out on top and where things have gone relative to where we thought they were going to go at the start of the year. So take it away. [00:11:14][18.8]

Alec Renehan: [00:11:14] All right. We'll do we want to start with my bold predictions. I should. Yeah. OK, so my first prediction was we will say a company with a two trillion dollar market cap that the market will value at two trillion dollars or over at the start of the year. We just seen a couple of companies crack one trillion and we did see a company break the two trillion dollar mark. That's Apple, which is the time of recording is is a bit shy of two point one trillion dollars trillion with a T pretty phenomenal. Just unbelievable. Yeah. Stupid amount of money it is. [00:11:47][33.5]

Bryce Leske: [00:11:48] Did I take that bet? I can't remember. [00:11:49][1.4]

Alec Renehan: [00:11:50] Yeah. I think with all of these we didn't include them if the other person didn't take them. Yeah. Yeah. So that was the first one. That was a yes. The second one for me was that Airbnb will be the biggest IPO in twenty twenty. And at the time Airbnb was going to IPO earlier in the year, covid happened and it delayed its IPO. Obviously travel got absolutely decimated. People weren't booking Airbnb as much at the time of recording. Airbnb went public overnight in the US, [00:12:20][29.9]

Bryce Leske: [00:12:20] the 11th of December [00:12:21][0.6]

Alec Renehan: [00:12:22] in Australia. Yeah, Airbnb was up 112 percent on the first day it listed. Now, to give you some comparison, I'm going to let you decide if I won this bet or not. Some of the other big IPOs of this year, Palantir is probably the really notable one. It was flat on its first day, but it's now up one hundred and seventy percent. Snowflake is another big one in the US, it's up about 200 percent, but it's been listed for about six months or a few months. In terms of one day performance, I believe it's been the best or the best of the major know, multi-billion dollar market cap companies. Do I get the yes on that one? [00:13:00][38.0]

Bryce Leske: [00:13:00] It's a tricky one, given that I think when we originally made the bet that it was the best performing over the entirety of the year. Well, if [00:13:11][11.1]

Alec Renehan: [00:13:11] you and I realize what they Bayh did on one day, it's definitely the best performing. [00:13:17][6.0]

Bryce Leske: [00:13:18] It is. It's not the best performing IPO full stock. Obviously, Snowflake is up 200 percent. The year is not done. It was a good start and good spirit. I will give [00:13:32][13.6]

Alec Renehan: [00:13:32] it to you. Okay. Nice one. Nice one. I've gone to the mat finding that one. The fact is up 112 percent in a day shows what I think about it. The end is that it's just a phenomenal company [00:13:44][12.1]

Bryce Leske: [00:13:45] and they just really mispriced the whole IPO. [00:13:47][2.4]

Alec Renehan: [00:13:48] Yeah. Or it's just there's so much money in the system that people are just price agnostic at this point, which is a whole other conversation that we might be having in twenty, twenty one. But that's not for today. The next prediction that I made was that private equity will stumble. And I thought that the debts that some of these private equity players were carrying, the amount of money flowing into the sector, and just by virtue of the amount of money flowing into the sector, you know, you have to chase worse and worse deals because all the best deals have already been done. I thought that it would stumble. It hasn't in any meaningful way. So I didn't win this one. So that's a no for me. I think a lot of the economic stimulus that was pumped into the system around the world really helped companies with high debt loads. And also the fact that interest rates are at record lows also helped those companies. So that was an incorrect prediction from me. [00:14:39][51.1]

Bryce Leske: [00:14:39] You can't get them. All right. [00:14:40][0.8]

Alec Renehan: [00:14:41] I know. I know. Well, as people will quickly find out, neither of us got close to all of them, right? [00:14:45][4.8]

Bryce Leske: [00:14:46] I yeah. All right. What's next? [00:14:48][1.8]

Alec Renehan: [00:14:48] I was reading this this morning while I was preparing for this episode, and I was surprised by how bold I was. So the wax stocks, the five big tech names, all the five fast growing tech names in Australia. For people unfamiliar, the companies are wise tech after pay Altium up and zero together. That spells Wacks with three A's. So the whack stocks in twenty nineteen averaged eighty eight per cent growth over the year. I made the prediction that one they would do that again and then to that after pay would be the worst performer of the five. I feel [00:15:23][34.6]

Bryce Leske: [00:15:23] like that was a spot for a spot for [00:15:26][2.8]

Alec Renehan: [00:15:26] the bold prediction. It was just highly unnecessary as well. Both of those predictions were wrong. The wax stocks taken together did sixty eight point seventy five percent. So not bad, but not the eighty eight percent they did the year before. And unfortunately for my predictions, they will lead to buy after pay, which. Was up 214 percent for the year. Crazy, unbelievable, [00:15:52][25.6]

Bryce Leske: [00:15:53] would you take this bet as it is right now, again for 2020. [00:15:56][3.3]

Alec Renehan: [00:15:57] eighty eight percent next year? [00:15:58][1.0]

Bryce Leske: [00:15:58] Yeah, no, but afterpay is the worst performer? [00:16:00][1.7]

Alec Renehan: [00:16:01] No. [00:16:01][0.0]

Alec Renehan: [00:16:07] All right. All right. Anyway, we've spoken enough about octopi this year. Let's not dwell on that one. My next prediction was that the US Federal Reserve said the central bank over in the states would have a balance sheet over four point five trillion dollars. The context for this is that the US Federal Reserve, when markets are in a bit of trouble or they need to pump more money into the system, they go and they buy mainly government bonds or other assets and they print money to do that. After the first financial crisis, like the 2008 financial crisis, their balance sheet was over four point five dollars trillion and they started to pay that off. But I thought that would increase covid happened. They got very active. They fired the money printing up and they started pumping money into the system. At the time of recording that balance sheet is seven point two trillion dollars. So covid really helped me. [00:17:01][53.8]

Bryce Leske: [00:17:01] They got those money guns that you put the rolls in and just shoot them or shoot them around. That is very true. Just started firing money everywhere. [00:17:13][11.3]

Alec Renehan: [00:17:13] Money everywhere. So I've got three to go. OK, my next one was that there would be a third party challenger in the US presidential election. Now, when I was writing this, I assume at the start of the year, I put some caveats on this because there's always the challenges. I think I would have said like a notable third party challenger, like someone who was in the news a lot [00:17:34][20.7]

Bryce Leske: [00:17:35] maybe [00:17:35][0.0]

Alec Renehan: [00:17:36] does Kanye Count? He was in the news a lot. [00:17:40][4.2]

Bryce Leske: [00:17:41] But I mean, yeah, I don't know. I honestly can't remember this one. So look, without coming with more information, I can't say otherwise. [00:17:48][7.1]

Alec Renehan: [00:17:48] Yeah. Yeah. [00:17:49][0.5]

Bryce Leske: [00:17:49] So I guess. [00:17:50][0.3]

Alec Renehan: [00:17:50] Yes I'll take it too to go. Next one for me was that another country announces they are or votes on leaving the European Union. Now that did not happen this year. So that's a no. There are three countries that I reckon you should keep an eye on. Italy. Opinion polls keep showing that between 40 and 50 percent of the population want to leave the EU, Hungary because of Viktor Orban and what's he what he's doing leading that country and then also Poland. But it was a no for me this year. No from you. Yeah, yeah, yeah. And then the last one we always finish with the NFL, one, we're both big AFL fans. I predicted that the Sydney Swans, my team would finish higher than the Essendon Bombers, pretty average year for both teams, but the Swans finished second or third lost and Essendon finished thirteen bombers. So that was a no, [00:18:43][53.0]

Bryce Leske: [00:18:44] I reckon, likely to be reversed into that season of 2021. Do you think [00:18:48][4.3]

Alec Renehan: [00:18:49] Sydney will finish higher than Essendon? Yeah, yeah, yeah, yeah. [00:18:51][2.2]

Bryce Leske: [00:18:51] But we can take that discussion into next year. Nice Ren so strong to correct a couple maybes, but we'll give you four out of eight to give you a return of fifty percent. Take it. Let's move to mine. I did throw nine in there for some reason. Yeah. [00:19:11][19.6]

Alec Renehan: [00:19:11] I'm always trying to one up my [00:19:12][1.1]

Bryce Leske: [00:19:12] feeling very bold. Obviously my first prediction was that Australia's GDP growth will be less than one point seventy five per cent. Obviously had no idea that covid was coming and covid has really helped me out with that bet just to put some context to it. So we did hit recession there for a little bit. And for those that are unaware, a recession means two consecutive quarters of negative GDP growth, a depression is for. So luckily, we are not heading towards a depression. We had two quarters in a row of negative growth. I think at its worst we hit negative seven percent contraction through June. And we have bounced back strongly in September, though, with with growth of three point three per cent. But certainly overall for Australia, we are still much further behind than we were in 2000 and nineteen while we were up in the last quarter. We're still four per cent lower than a year ago. [00:20:08][56.1]

Alec Renehan: [00:20:09] So we should give a shout-out to where you got that information from. Yes. [00:20:13][4.4]

Bryce Leske: [00:20:13] Which is comedian versus economist. One of the other shows in the Equity Mates media stable, hosted by two brothers, comedian Adam and professional economist Thomas. It's an awesome podcast with with the idea that they want to break down all of the tricky bits of economics that are very important to understand as an investor. And we suggest you go and listen to them because it's a great complement to what we're producing over at Equity Mates. It really helps you understand what is going on in the economy, everything from GDP, recession, depression, house prices into. Streit's, you name it, they're unpacking it all for you, so head over and search for that in your podcast feed. [00:20:53][39.8]

Alec Renehan: [00:20:54] Yeah, big shout out to Thomas, The Economist, for getting us that data. Now, the next prediction you made was that India will be the rock star stock market of 2020. Yes, I keep almost saying 20 or 21. India will be the rock star performer of 2020. I think then we then clarified what that would mean. And you said it would outperform the major markets, US, Australia, Japan, Brazil, China and Europe. Yes. How did you go? [00:21:20][26.9]

Bryce Leske: [00:21:21] Look, I wasn't far off. It certainly isn't the rock star performer for all of those markets. It has outperformed the ASX considerably. However, it hasn't outperformed the S&P 500. So the S&P 500 up ten point sorry, twelve point six percent at the time of recording. The Indian index is up ten point six percent. [00:21:45][24.0]

Alec Renehan: [00:21:45] So not bad. [00:21:46][0.7]

Bryce Leske: [00:21:46] Not a bad return at all, but just pipped by the S&P 500. But look, as I said, it did beat Australia. Australia is [00:21:53][7.2]

Alec Renehan: [00:21:54] flat. Yeah. So if your prediction was a little less bold, you said it would be the star performer against Australia. You would have got the win. [00:22:03][8.8]

Bryce Leske: [00:22:03] Maybe I'll be going for mildly bold prediction. [00:22:05][1.6]

Alec Renehan: [00:22:05] My prediction. [00:22:06][0.9]

Bryce Leske: [00:22:08] This was a bold one. I was obviously feeling very bullish on property. I said that residential property prices will experience in excess of 10 per cent gains in both Sydney and Melbourne. [00:22:19][10.7]

Alec Renehan: [00:22:19] Yes, very volatile. Very volatile. Obviously, you didn't know covid was coming? [00:22:23][3.6]

Bryce Leske: [00:22:23] I didn't know covid was coming up. Interest rates, which say there was a lot of money going around. Unfortunately, that didn't play out. So I didn't win that. Sydney saw one point five percent in Melbourne is reasonably flat. I'm thinking that I might carry this through to 2021, but we'll leave that for now. [00:22:41][18.0]

Alec Renehan: [00:22:41] Fair enough. Your next one? Yes. [00:22:43][1.7]

Bryce Leske: [00:22:43] Ethical investing inflows in Australia will be the biggest ever. I'm going to take this, [00:22:50][6.4]

Alec Renehan: [00:22:50] which in hindsight, I challenge how bold that was. It's fair. Ethical investing is clearly the biggest trend in markets at the moment. I mean, you could say that BlackRock, who's the biggest asset manager in the world, turned all of that, close to 10 trillion dollars in assets under management, ethical because their CEO wrote a letter saying ethical is now a consideration in all of our investments, like ASIC concerns environmental, social and governance and in particular, sustainability around climate change. But global ethical investing inflows were up 72 percent in Q2 2020 alone. So, yeah, it was the biggest ever. [00:23:29][38.8]

Bryce Leske: [00:23:29] Yeah, nice four more to go Ren. But before we do, a quick word from our sponsors. So the next one Ren I have is that agriculture will be the worst performing sector in Australia. Again, Kovács come in and prove me wrong on that one. Safe to say that it wasn't. Energy got absolutely smashed. Travel got absolutely smashed. [00:23:52][22.8]

Alec Renehan: [00:23:53] The negative oil price that we had for a moment earlier in the year really hurt the energy sector and really made this bet a nonstarter. [00:24:01][8.1]

Bryce Leske: [00:24:02] Didn't even get off the ground. [00:24:02][0.8]

Alec Renehan: [00:24:02] just for context. And just because I looked these numbers up three of Australia's big energy companies. So Santos was down twenty one percent, Woodside was down 34 percent, and oil search was down almost 50 percent. So like big falls there. On the other hand, you had some of the big agricultural companies like Elders' had a pretty good year, actually. It was up almost 60 percent. So sorry. [00:24:29][26.8]

Bryce Leske: [00:24:30] That's OK. You live and you learn. Next one. CSL now owns this one. Yes. CSL will become the biggest ASX company by market cap. Now, there was a moment in time this year where that was the case and it wasn't too long ago. The only thing is that it's competitive for this position is Commonwealth Bank. And it has been on a pretty strong run over the last month and a half. And as a result of that has reclaimed its number one spot as the biggest company in Australia with a market cap of 147 billion. CSL at the time of recording is 137 billion. Ten billion shy of claiming that mantle. But I guess rules are rules. I haven't made that bet right now. [00:25:14][44.2]

Alec Renehan: [00:25:14] Are you so close to this one? I know. [00:25:16][2.0]

Bryce Leske: [00:25:17] Yeah. Could still happen by the end of the year. Could come and come and say so. [00:25:21][3.9]

Alec Renehan: [00:25:21] It's just crazy to think that our biggest companies are around that 140 billion dollar mark. And then you look in the US and it's one point five trillion, one point six trillion, two point one trillion. Like it's just these [00:25:33][11.5]

Bryce Leske: [00:25:33] don't even compare. [00:25:34][1.0]

Alec Renehan: [00:25:34] Yeah. Anyway, you've got three to go [00:25:37][2.2]

Bryce Leske: [00:25:38] Power through them. Donald Trump will be reelected in 2020. No, but I am more than happy to take that. [00:25:44][5.4]

Alec Renehan: [00:25:44] You were pretty upset on election night. [00:25:47][2.9]

Bryce Leske: [00:25:49] Not true. Moving on. Piracy makes a comeback. Very broad. Very broad. We'll say this one is a no, but I think hard to tell, really. I don't know how we were going to measure that. [00:25:59][10.7]

Alec Renehan: [00:26:00] Oh, yeah. Well, I was doing some Googling earlier, and it seems like piracy may have been up. There wasn't a lot of good data that said, you know, it was up X percent, down X percent. I guess it's hard to track. But overall vibe I was getting, shall we say, from what I was reading, was that it may have been up slightly, but overall content consumption was up because we were all just locked down at home, you know, Netflix, Disney, plus all that stuff. So as a proportion of overall content consumption, it's probably not a yes. [00:26:26][26.3]

Bryce Leske: [00:26:26] take that as a no. And also, I closed out with an iPhone as well that the Hawks would make the AFL top four couldn't have been more wrong. They came fifteenth. So thank you for that Hawthorn Football Club. So Ren, I ended up walking away with an encouragement award. Yes, two out of nine. Twenty two percent, very close to a couple and probably could have been more bold on a few more. But anyway, look, you live and you learn. Looking forward to seeing twenty, twenty one bold predictions go. [00:26:59][32.9]

Alec Renehan: [00:26:59] You probably owe me some beers for the bold predictions, but at the end of the day that is nothing more than a pyrrhic victory for me because you won. When it counts, you won the stock again, you three from three. You've done a Hawthorn Hawks three peat. I will be coming strong next year. I'll be leaning on all of the experts, at least until over the summer break. They will not be able to escape me as I try and get all of the information and come home with a great pitch for twenty twenty one. Nice looking. As I say that I'm thinking that I'm putting a lot of pressure on myself [00:27:33][33.8]

Bryce Leske: [00:27:35] and I'm putting no pressure on. So look, we will endeavor to get as many bold predictions as we can from the community to start off 2021 as well. So stay tuned across our social channels to hear about how we will make that happen. Also, I think on behalf of Ren and all the experts that we've had on the show, it's been an awesome year. Couldn't have done it without you guys, the community. It's just been an awesome experience and learning journey with you guys along the way. We've got a lot of things planned in 2021 that will hopefully bring everyone closer and make the experience a lot more enjoyable and rewarding and valuable for everyone. So, yeah, yeah, yeah. It's been an awesome year. [00:28:15][39.6]

Alec Renehan: [00:28:15] I mean, we quit our jobs. Yeah. [00:28:17][1.6]

Bryce Leske: [00:28:18] It's been amazing, I guess, fate. [00:28:20][1.7]

Alec Renehan: [00:28:21] Forget it. Forget bold predictions. That was bold action. [00:28:23][2.5]

Bryce Leske: [00:28:24] Yeah, yeah, yeah. Who knows what's going to happen in 2021 with the markets. But I think given you know we're going to be in a position to give this out all over the next 12 months. We've even more. So I'm really excited to see how the community grows and what happens with Equity [00:28:42][17.6]

Alec Renehan: [00:28:42] Mates, yeah. Just to echo that big thank you to everyone. Hope you guys have a great summer. A good Christmas. Enjoy your slowly raising lockdown's, especially if you're a listener from Melbourne and I guess enjoy the summer series because we're pretty stoked that we got to speak to some CEOs. So we hope you guys get something out of it. [00:29:01][19.2]

Bryce Leske: [00:29:01] It was incredibly rewarding and valuable. So don't miss the summer series. We'll be back first. [00:29:07][5.6]

Alec Renehan: [00:29:08] Yeah. And if you want to keep up to date until then, on top of the summer series, you know, we've got all the social channels, we've got our mailing list thought starters. So, you know, there's plenty of Equity Mates content over the summer as well. So start your 2021. Right. Get your money sorted. Get your head around how you're going to invest for the year and use the summer break in the most productive way possible, which we would say is engaging with Equity Mates. [00:29:32][23.7]

Bryce Leske: [00:29:32] Nice one will Ren. It's been great and have a good break yourself and we'll chat next year. Sounds good. [00:29:32][0.0]

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