4 investors, $100,000: 3 months in, who’s ahead? | Portfolio Challenge

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We've each invested $25,000 to see who can come out on top by the end of the year

and today we're going to have a look at how we are going.

EquityMates!

Welcome to EquityMates a show where it's for what's possible in the world of investing.

If you've just joined us for the very first time and a massive welcome to our community,

my name is Bryson.

As always, I'm joined by my equity buddy Ren.

How are you going?

I'm very good Bryson. Very excited for this episode.

As you said, the start of the year we were set the challenge.

Invest $25,000 across a core and satellite portfolio and see who wins.

And it's not just you and I competing head to head.

We have four contestants in this game.

Unfortunately, one of them is out sick today, so we will win.

I don't know if it's by a strategic move or not.

Oh, yeah, you reckon.

A shame of performance.

Yes.

We actually don't know who's losing, but maybe Shane knows and that's why she's not here.

So, Ali Selby, we hope you get better soon.

We will be talking about your portfolio today.

You've given us the instructions, but Cam Glaison, you haven't called in sick.

We appreciate that.

Thanks for joining us again.

Yeah, I guess it's good to be here.

We'll see how we get here.

Now, Cam, you are a senior investment strategist here at Betashez.

We'll talk about the portfolios, but I think we will also talk about what's happened in

markets over the past three months or just short of five, three months.

But before then, Bryshez, we just reintroduced the concept for people who are new.

Absolutely.

So, it's in partnership with Betashez Direct.

We've each had $25,000 to build a custom portfolio.

So, DHHF was our core, 13,000 of their abouts went into DHHF and we're not allowed to

touch it.

Outside of that, we then had to equal weight the remaining parts of the portfolio, three

ETFs, three stocks all listed on the ASX available through Betashez Direct and made the best

man or woman win.

Yes.

Now, we weren't allowed to touch our positions from when we invested until now and we can

only rebalance or reinvest in the same format every quarter.

So, that's what we're going to do this episode.

Yeah.

So, we'll always have three ETFs and three stocks.

Yep.

Yeah.

Or, before we get into our portfolios and what's been happening in the markets, let's say

a massive thanks to Betashez for sponsoring this episode and helping us keep all of our

content free.

With more than one million investors and over 75 billion in assets under management,

Betashez offers Australia's largest range of ETFs and innovative investing solutions

through their platform Betashez Direct.

Visit Betashez.com.au to learn more about the Betashez funds and about Betashez Direct.

Read the PDS and TMD and consider whether the product is right for you.

Betashez Capital Limited is the issuer and equity mates proprietary limited is owned

by Betashez Group.

All right, Cam.

So, before we jump into the current positions of all the current returns of our portfolios,

a lot has been happening since we've made our first investment.

It's been a busy year.

It's been a busy year.

So, why don't you give us a bit of an update on just what exactly is transpired over the

last couple of months?

Yeah.

So, we kicked off our investing in February, which was somewhat not fortuitous, but either

way, we just sort of play the cards we dealt to that sort of stage.

To the end of February, we'd seen that the ASX had rallied around about 12%.

So, it was a strong start of the year.

It's a bit of a bind or a bit of a muddle, but elsewhere, we saw some really strong

performance out of Asia and other jurisdictions.

That was sort of quite a, quite a, you know, it looked like we're going to have a really

good year for equities.

And we should, you're not going to take your own horn, so why don't we do it for you.

Cam was going around doing the round saying XUS is going to outperform.

Yeah, that's right.

This is going to be the year where, well, the same as last year, whether US will underperform

the rest of the world.

So, you would have been feeling on top of the world if it was going really well, emerging

markets was great.

We did, in those events, we did flag the risk of a crisis in the Middle East.

Regrettably, didn't suggest that everyone should go long oil at the time, but we certainly

flag that as a risk and the potential for commodities to do quite well this year.

And then, obviously, we had this escalating conflict.

And, you know, we look at the return, some of the best performing parts of markets have

actually been some of the now the worst performing parts of markets, almost ironically emerging

markets in Europe quite heavily dependent on oil imports.

People have discussed this idea of an off-ramp or the ability for Donald Trump to de-escalate

and to end the conflict.

We've seen him make very serious moves in that direction.

He's due to talk to the American public in about sort of two hours' time, and we expect

that he's going to essentially suggest what he's done in social media, which is, I'm going

to take my toys and go home, I'm going to leave the straight of Hamas as someone else's

problem.

So, you know, that doesn't necessarily mean a resolution to the conflict.

It really now is in Iran's hands as to how this plays out from here.

If we look at market performance, you know, the ASX, I mentioned it was up to 12%.

It fell around about sort of 11% to the start of this week, rebounded a little bit in

the last couple of days.

There is, obviously, hopes that this results in somewhat of a model through this situation.

Perhaps we see elevated oil prices.

That's what we expect in a long term, elevated oil prices, but not some of the more extreme

scenarios.

I feel like him leaving, if he does leave, but say we're just going to leave the straight

of Hamas as is, I feel like that's not the result that the market wants.

Yeah.

I think the market likes, certainly, even if there is some bad news in there, I guess

if you look at Iran's five point plan, one of them is they want sovereignty over the

straight.

They've already enacted laws in their parliament where they can exact the toll booth on

the straight.

And if you're an Asian country that a lot of the oil actually goes about 89% of the oil

in the energy goes to Asia.

The amount of oil sitting on one of these ultra-large crude carriages around about half a

billion dollars worth of oil, you'll probably pay Iran $3 million to get through.

That's straight, right?

So while it will see most likely higher oil prices, structurally higher oil prices, if

that is the resolution, it is at least more certainty.

And I think some of the volatility was in the spot price that hasn't necessarily been

reflected in long term, crude futures pricing, but long term crude futures pricing is showing

elevated levels of oil price.

And that might just be the new norm for the world we live in for some period of time.

So war in Iran and the consequences of that has certainly been top of mind for this

investing period, the first quarter, I guess we could say.

Is there anything else that we should flag that's been relevant for investors in the

first few months of the year?

Within that sort of concept of Iran, the real focus has been what essential banks doing

as a result.

And there was expectations that we're going to see a real push to tightening.

So for example, in Europe, the ECB at the start of the year was expected to have no cash

rate hikes just a couple of days ago.

The expectations were there were in fact going to have to re-catch rate hikes.

And some of these expectations have now been peered back in the last couple of days.

But the pressure that puts on equity prices is notable.

So this is what the market's been grappling with.

And in this sort of scenario where you have both the risk of inflation and growth, it's

not necessarily great for fixed rate bonds or equity.

So that's sort of the world we're living in.

And really it has been the focus of markets.

And so I guess that then turns to our competition.

And we should caveat this by saying like the best way to invest in a time like this is

to think long term, not to try and make money quarter by quarter and win a yearly competition.

Because we've seen that every previous dip in history was a buying opportunity that

the market is resilient, that it climbs a wall of worry.

We've all been saying this on this show and Cam, I'm sure you've been saying it in the

media again.

So I think it's an important caveat just to start with that like the best thing you can

do is think long term and not try and win short term games.

With that said, let's try and win a short term game.

So who wants to kick it off?

I guess we'll start with how you portfolio has gone.

And then if you want to make any changes to it.

Let's do it.

I'll kick off.

Yeah.

So I'm not sure we're about to find out.

So current portfolio value is 23,587 so I'm down just under 5.5%, 5.44%.

If we compare that to my core DHF or everyone's core, it is down 3%.

So unfortunately, I've done a little worse than my core.

But that's natural.

That's what you would expect when you have a risk on satellite.

Um, best performers for me.

I had one in of my individual stocks was up BHP up 3.07% and one of my ETFs was also up

HJPN, the hedge Japan fund, which can you spoke about last time we were on.

It's up 1.66%.

That's the good news.

Very good.

Yeah.

Lucky that one was currency hedged in the end.

It's true.

Yes.

Yes.

Now for the not so good news, you may recall that I tried to play the

the earnings season here in Australia with GDG, which is the generation development

group.

Now it had a mediocre reporting period and as such got punished, it's down 11.5%.

Similarly, I had Goodman group.

I was trying to play the data center, not a good reporting season for Goodman.

Profit fell 8%, so didn't time that to play.

Haven't had a great year coming.

Great.

Yeah.

So what's the stock?

Lesson learned.

Yeah.

I look at my thematics, my thematic ETFs.

I was in URNM, Uranium.

Yep.

It's down 12.65%.

I can see the thighs with that.

Good.

I think that was so in the Uranium cam.

And then I was in copper as well.

I really went for like the metals play here.

Why I was the ETF down 14%.

So where does that leave me?

Sorry.

Can we just reflect on Bryce had the confidence to say the best will go first when

four of your six positions are down double digits.

I'm hoping.

Look.

Yeah.

I'm waiting here where you guys are.

You must think very little of us.

Yeah.

Well, that's right.

Well, he does have some winners.

Oh, yeah.

Oh, nice.

Good to know.

So where does that leave me?

I'm going to play the Relief Rally for the next three months.

Oh, you reckon the Werner runs over?

I'm going to lean into what Cam was saying and hope that...

Oh, Cam told us the Werner runs over.

Is that what you can say?

I can't.

I'm not sure that's what I said.

It keeps going.

It's Cam's fault.

I'm going to build on what Cam was saying and to be fair, this was done prior to your

comments, Cam.

So thank you for confirming my thesis.

What is it?

What is it?

Trump.

Trump is not going to hang around in Iran for the next three months is what I'm kind of

sensing.

He's just not going to do it.

Yeah.

He's looking to get out.

And the market is thirsty for some good news.

So I'm going to play the Relief Rally and position accordingly.

So what I'm going to do is I'm keeping HJPN, I'm keeping Japan, I'm keeping wire, copper

and I'm keeping BHP.

I'm going to sell Uranium, get your thoughts on that in a moment, Cam.

I'm going to sell Goodman Group and I'm going to sell GDG.

What I'm going to add is NDQ.

I'm going US Tech on.

Oh, I like it.

So that will close out my three thematics.

I'll have HJPAN, wire and NDQ, NASDAQ.

Then for my individual stocks, I'll have BHP, Prometicus, I'm going, which is actually just

a stock that I have in my own portfolio that is down, hoping for a bit of a return.

And then I'm going to put in Macquarie.

Just something that I'm hoping, regardless of what happens, if interest rate environment

goes up here in Australia, they should do all right.

But it's just not going to be one that is going to be too volatile.

Yeah.

The earnings coming out a little while, but we'll see.

Maybe we'll have a good stock.

We'll have a gone well playing the earnings recession.

So Macquarie is going to sit in there.

So to close out three stocks, Prometicus, BHP, Macquarie, 3 ETFs, NDQ, HJPAN and wire,

really hoping that we get a bit of a relief there, mainly through NDQ.

Yeah.

So after this, you will update all of that on Betashe's Direct.

You can buy not just Betashe's ETFs, but any ASX listed ETF and a large number of ASX

listed stocks.

So you'll update that.

We'll share it on our social media so you can see Bryce's portfolio.

Yes.

I guess the caveat here is that it could all go pear-shaped if there isn't a relief rally.

Yeah.

And he sends seven to 10,000 troops in to try and take the straight of them as, but we'll

see what happens.

Nice.

Any thoughts?

Look, I really like the NDQ call.

I was sort of thinking along those lines.

If you look at NDQ or NASDAQ versus the SB500, it's trading about a 9% premium to the

SB500.

It hasn't done that for eight or nine years.

And we're coming into US earnings season.

This is going to impact me a bit differently in the way I'm thinking about my portfolio,

but I do think that there is the potential in a relief rally for what has been sold off.

It's performed poorly, but something that has continued to have strong earnings growth

to really rebound quite strongly.

So I think that's really interesting.

Yeah.

I'll maybe I'll talk about Uranium a little bit later.

Yeah.

Sounds good.

Well, Cam, you've, I guess given us a little bit of a tease of your portfolio.

So why don't we get into how you're going?

Bryce was down what, five and a half percent.

Maybe give us the headline number and then talk to us about how some of your positions

are going.

Okay.

I was hoping I could go a little bit later.

The ASX is just open, and I've just seen the portfolio start into two.

Oh, no.

You need to wait for the full outfit.

Yeah.

Yeah.

Okay.

Look at her.

I will sit here in silence.

Over night.

So my portfolio is down to 23,319 dollars.

It's up a little bit on that now, but that's down about six and a half percent.

Okay.

It's a little bit worse than you.

So far, I still am on top.

You are.

You are.

You are.

You know, as we sort of said that the core has done, you know, relatively well in what's

been quite a difficult market for equities, you know, three percent.

It's been the satellites.

And I think we all sort of acknowledges the, the will to win meant that we went probably

a bit further out on the growth spectrum than we're sensible.

Definitely.

I'm pretty comfortable with some of the, the holdings I have in the portfolio.

I mentioned emerging markets.

I still feel that over the long term that I feel quite bullish on emerging markets.

So B and G in that part of the portfolio, look at, it's down around about four or five

percent.

So that's okay.

I'm also quite surprised, not surprised, but I'm, I'm, it reaffirms my belief in this

fund, but GHHF, which is that moderately geared exposure to global equities has held

up relatively well.

So that, so that one's down around about sort of four percent.

So that's, that's pretty good for a geared fund.

Yeah.

And if I'm going to play a relief rally, I'm probably likely to do it with gearing.

I think that's, that's a good way to do that.

And now things get a little bit more hairy.

Yes.

Uranium, I played through to uranium stocks in terms of the game.

I had to make sure I had some ASX and stocks, not just ETFs.

So I didn't use UR&M, I used deep yellow, which is down, you know, around about 30 percent.

So that's, that's been a significant detractor.

And also a platinum, which isn't down as substantially, but it is off quite a bit.

So my uranium play hasn't worked, but here's why I want to still hold uranium.

And I, I think this is beyond a one year time frame of, of this particular competition.

But if you look at what happened in the, so, for example, the, the 73 oil crisis at that

time, a quarter of global electricity generation was basically produced by burning oil.

We used to burn oil to generate power at that point of crisis.

Countries around the world decided they didn't want to be as dependent on Middle East oil.

And they started looking for alternative sources of energy.

And nuclear went from 2 percent of global energy generation to hit around about 18 percent

of global energy generation by the mid 80s.

So one of the outcomes, the long term outcomes of this crisis, I see, is a need for countries

to focus on energy security and an example of a country that's already seeking to do that

is South Korea, where they need to pivot off oil and in particular LNG to other forms of,

of power and I think uranium and critical minerals will be beneficiaries of that.

So as a risk on trade, I, I'm actually sort of quite bullish on uranium players.

I think they're quite high beta anyway.

And they can be very volatile as we've just seen.

But long term structural story for uranium, I think, remains intact.

Cam, you're too long to say we don't have 20 years.

We've got to break all our training, you know, it's tough.

It's tough. It's ingrained in and I guess is the reason that it's down 30 percent

and my ETF down is purely just based on the spot price of uranium over the last.

Yeah, yeah, it looks so spot price, but you know, it's also a sector which does,

you know, have very strong swings in sentiment.

Yeah, very strong swings in sentiment.

And don't forget miners also consume a lot of diesel,

often to actually extract, you know, that it's quite an energy intensive activity.

And so, you know, if you're an investor and you're investing in, perhaps,

ASX listed sectors, if you are thinking about, you know, energy and materials as a sector,

you're probably pivoting out of something like uranium and looking for things like coal

and the oil and gas producers, you know, Santos and Woodside because they're producing cash flows

right now, whereas a lot of these uranium miners are actually sort of, you know,

quite early on in terms of their production cycles. So,

so there will be some repositioning that's happened and I think that if we see

clear path forward with all bit higher oil prices, it still remains, you know, a good long term

case uranium. Yeah, okay. On your point on NDQ, look, I think that's a great idea.

Within my portfolio, I have HAC, software was sold off, I think, you know, within the software

realm, you know, sub-security is one of those, you know, more defensible businesses.

And so, I'm remaining, I'm going to stick FAC on HAC. I did think about changing it for global

defense companies. I think we'll talk a bit about that, but I've decided to leave my portfolio

unchanged. So, that's a portfolio as it stands. I've also got REA group there and I'm,

that was probably another one I wasn't too sure about keeping. I like your idea of

premedicus. I was thinking, why is tech actually switching for why is tech? But I think I'm going to,

you know, stick FAC with REA group too. I still think that's a nice. And you're looking through

the noise. I'm trying to look through the noise. There's a lot of noise. There's a lot of noise.

I do have five dollars of cash in my account though. Five dollars on the nose. Well, four dollars

98 cents. Oh, let's see what I've been paid. Five dollars and 13 cents for me.

This is grim if we're talking in cents. It's 2592.

All right. Well, that does count to your return. And we're not factoring in tax rates. So,

you know, you get the full income back, but nice, Cam. Well, so you have beaten Bryce in the first

few months of the game. No, no, no, I'm just done that. Oh, damn it. It's about five. I'm still on top.

All right. Well, that's probably a good place to take a break. On the other side, we're going to

see how Ali's portfolio has gone. And then I'll share how I've gone as well. We'd like to say thank

you to Betishez for partnering with us in sponsoring today's episode with more than one million

investors and over $75 billion in assets under management. Betishez offers Australia's largest

range of ETFs and innovative investment solutions through their platform. Betishez.

Visit Betishez.com.au to learn more about the Betishez funds and about Betishez direct. Read

the PDS and TMD and consider whether the product is right for you. Betishez capital limited

is the issuer and equity mates media PTY LTD is owned by Betishez Group.

Well, as we said, unfortunately, Ali is off six today, but she has sent in her portfolio update

and any changes she's wanting to make. So let's crack into it, guys. Ali's current portfolio,

$22,828. She's down 8.68%. Yes, tough. So her positions, DHHF, as we've said, down 3%.

She was in armor, the defense ETF. It's down 5.6%, which she found surprising, given that we're

in the midst of war. Yeah, let's put a pin in that because I want to ask Cam about that.

Like, if a war in Iran isn't good for a defense, let's address it now. Okay, let's address it now.

Yeah. So, I mean, like global defense contracts has actually held up quite well at the start,

but then we started to say a bit of a risk off sentiment and, you know, a pivot from concern

about inflation to more of a growth fear and a lot of these companies have done quite well.

I think the other point, though, is that six of March Trump got up and said he's told all

large contractors that they need to produce more interceptors and, you know, basically high

caliber munitions. He didn't put any orders in, though. And none of the contractors, you know,

can get any sort of comfort from anything that Donald Trump says, unfortunately. So there's

probably been a little bit of a disappointment in the fact that we haven't yet seen firm orders

come through. But when we were talking about this off air, but there are reports that roughly,

you know, 26 billion dollars worth of missiles and interceptors were sort of shot in the first

15 or 16 days. That's going to need restarting at some point. So I do think there's some catch-up

that can be had with the in armor. You would think that just before a crisis that investing in global

defense companies was the right play. I'd stick with it. Yeah. Yeah. Okay. Well, we'll see if she

wants to stick with it. She also had the Lowell Resources Fund. It is down 24%. That's tough.

She had the Plato Global Alpha Fund, PGA 1. It's down 3.2%. Then her individual stock. So she had

Artria, ticker AYA. It's a healthcare tech company. It's down 6.7%. Iperian X, a titanium metal

and critical materials company, down 44.9% and shares a few reasons as to why that happened.

Then next D.C. down 8.5%. So ETFs and funds have held up reasonably well, but some of the

individual stocks. Yeah. Less double digit losses than you, but just two brutal drops. Two brutal.

Yeah. I feel like that's the name of the game in this competition. Avoid blowing yourself up.

Big time. Yeah. That's the name of the game in investing. Yeah. Yeah. Fair, fair, fair.

I'm thinking maybe I just move everything into AAA. Just an interest on cash when you guys

fight it out. That would have been the smart playing game theory. Yeah. Is there actually a prize

for this? I mean, is that why we're... Yeah. We're going to keep all the money. Oh, yeah.

That's why we're competing so hard. That's not much risky. No, it's just pride. It's just...

Yeah. Absolutely. Yeah. And that's... There's a strong motivator.

Now to look at some of the changes she wants to make. So she's going to keep next D.C.

She's going to keep DHHF obviously because that's part of the court. And she's going to be keeping

Plato as well as Artria. So she feels like there is also going to be a risk on for the next three

months. So that's what she's going to play. She's going to sell her Low Resources Fund and replace

that with NDQ as well. Oh, wow. We're both in tech there. She's moving away from armor. She is

going to sell armor and buy Asia. The Betishez Asia tech giants. Yeah, tech tigers for the same reasons

that she likes NDQ. She feels like if it's a risk on environment, she's going global tech. Yeah.

So that'll close out her fund component NDQ Plato and Asia. And then she's going to be selling

Iperian X. She read their latest market announcement and felt there are a few alarm bells there

doing the research, which is good to see. Yes. Given the stocks down 45%, I think

a few investors thought the Sahim. So she's going to get rid of that and replace it with WebJet

because she feels if the war ends, there could be a recovery, I imagine, in travel.

Wow. That kind of makes sense. So again, all in on the recovery. Yeah. Quite sort of tech heavy,

but that's good. I mean, if you want to, you know, obviously create the chance of outperforming

three others, then you probably need to take a bit of risk and increase the volatility in your portfolio,

but see how we go. Absolutely. So that's Ali down 8.6% Ren, where that leaves you.

All right. What is it out? Well, they say save the best to last. And we are only a quarter

of the way through this competition, but I am ahead. I am only down 2%. Two. Yeah. I think that's

changed since the week. If you're watching on YouTube or if you are watching on the new feature

on Apple podcasts, where you can watch video on Apple podcasts, you'll see the screenshots

of my portfolio down 2%. I think Ren's been fortunate that he's at the time of recording

markets opened after the three of us. Yeah. I'm sure I'm pretty sure before recording,

you were down four. I was down three. Okay. Yeah. Yeah. Look, either way I was on top,

I was the only one in the 24's still, but yeah, it did tick up nicely when I got the screenshot.

So I'll take it. So three ETFs that were in my portfolio were Asia, the top 50 Asian tech stocks.

That's down 3% drag and DRGN. It's a Chinese tech ETF. That was down 3% as well.

And then IIND, the India quality ETF down 14%. And that's been really interesting, actually,

because China has actually been very resilient. People think of China as a massive

energy importer, but they've been somewhat of a safe haven. It's actually pretty through this period.

Yeah. It's interesting. Yeah. Suffered a little bit. Yeah. Yeah. So that's the ETF side of it.

On the stock side, I went all in on the resources theme, as if we remember the start of the year,

everything was ripping. Like nothing could go wrong. Gold over 5,000, everything else, copper,

all-time highs. Well, copper has fallen off, and so has my copper play. Sanfire resources,

down 14%. And then I went Pilbera Minerals, Lithium. That's up 20%. So that's pretty happy with that.

Yeah. And then Minres mining services, but obviously got their Lithium plays as well,

up 4%. So as I look at this portfolio, and I think what am I going to do? First of all,

I'm going to take India out of rotation, and somewhat controversially given that the consensus

at this table at least seems to think that maybe the worst of the war is behind us,

I'm going to add fuel. F-U-E-L is the ticker. It's not the oil price ETF. It's like the oil

produces ETF. It's like all the big BP, Chevron, Exxon, and the like.

The thesis being even if we stop fighting today, the unwind, the restart of global supply chains

will probably take longer than expected. The price will probably remain elevated, and these guys

will probably print cash for a little while. So what? I look, yeah, I think that's great. And you're

sort of aligned yourself with commodities, but you've already done there. Yeah, no, I think you're

sitting pretty at this stage. It's also kind of a hedge to some of the other more risk-on parts

of the portfolio. Yeah, if the conflict does continue and everything falls, it'll hopefully not

fall as much, or even rise. So that's one. And then, look, I was going to go US tech as well,

so I was going to swap out Dragon for either an NDQ or Fang Plus, which people might be familiar

with. The reason being, and if you're watching again on Apple Podcasts or on YouTube,

we'll include the chart. The S&P technology index versus the overall S&P 500 is at its lowest

level since 2019, similar to what you were saying earlier, Cam, which just doesn't feel like

it's sustainable. Like these are faster growing, higher quality businesses, the rest of the S&P 500.

But given you guys are all in, or particularly Ali and Bryce are all in on US tech, I thought I

would be diversified, be different. So I'm not going to change that. I'm going to keep that as

Dragon. So that's a long, long-winded wave sound. I'm actually not doing anything there.

Stocks. So I'm going to sell Sandfire down 14%, and I'm going to sell Min Res,

and I'm going all in on Australian momentum. I'm going to add 4-D medical, and I'm going to add

tealix. So they're both more than 30% in the first three months of the year, and I'm just going to

say for the next three months, long-made that momentum continue. 4-D. Yeah, a lot of hype.

A lot of hype. I am nervous that at some point, when you know that hype cycles turn, and they turn

quickly, but hopefully that doesn't have in the next three months. So you think you might be holding

it for three months? I think that's what you're going for. Yeah, yeah, yeah. Yeah, very good.

Yeah, short-term play. If you'd like to have a look at the current portfolios, we'll put them on

Instagram. Well, they should be up now. Otherwise, jump on YouTube if you're listening on the

podcast, and you'll be able to see some of our portfolios in action. Or watch on Apple Podcasts.

Or watch an Apple Podcasts. Because we've now put a video on Apple Podcasts. Well, there we go.

Portfolios are set. We'll re-allocate the weightings in our custom portfolios on beta shares direct.

We can't touch it from now for another three months. Who knows what's going to happen. Anything could

happen. Yeah, yeah, yeah. Hopefully one of us is in the green at the six month. Yeah, well,

we're watching this live now. And Cam, you're probably in a single position, but we're all going up,

which is good news. It's nice. A percentage better off now. Wow. I'm only 1.8% down there.

Yeah, so if you can talk to someone and change anything. So Cam's leftist portfolio, as is,

we've changed all of ours the remaining three of us in some way, shape or form. So we'll find out

how it has performed in three months time. Cam, thank you for joining us. We'll leave it there. Thank you.

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