Australian Investors Podcast

In this Australian Investors Podcast episode, Owen Rask sits down with Stephen Arnold from Aoris to unpack a timeless investing idea that often gets lost in noisy markets: a share is not a trade, it is part-ownership of a business.

Stephen explains how his early career in credit, global investing and business analysis shaped the Aoris philosophy, and why quality, durability and valuation discipline still sit at the centre of his process. He and Owen explore what it really means to think like an owner, why a concentrated portfolio can still be sensible when the underlying businesses are strong, and how investors can stay grounded when markets become obsessed with themes like AI.

The conversation also digs into patience, humility and transparency. Stephen shares why Aoris keeps questioning its own assumptions, why process matters more than fashion, and why clients deserve a clear understanding of what is owned and why.

Along the way, he reflects on finding his true north early, building Aoris to do one thing well, and why durable businesses and durable investment processes often come from the same habit: staying simple, asking better questions and resisting complexity for its own sake. If you want a calmer framework for thinking about quality investing, portfolio construction and long-term decision-making, this episode is a sharp reminder that curiosity, simplicity and discipline still matter.

Episode resources

– Emerging markets research

– M&A - most acquisitions fail

– Aoris portfolio and website

– Speak with the Rask Advice team

– Ask a question (select the Investors podcast)

Show partner resources

– ETF investor? Go beyond ordinary with Global X: View all funds

– Visit TermPlus to learn more

– Join Pearler using the code "RASKSWITCH" and get $32 of Pearler Credit

– Whatever comes next for your business, power it with Stripe

Rask resources

– All services

– Financial Planning

– Invest with us

– Access Show Notes

– Ask a question

– We love feedback!

Follow us on social media

– Instagram: @rask.invest

– TikTok: @rask.invest

DISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser. Access The Rask Group's Financial Services Guide (FSG): https://www.rask.com.au/fsg
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Owen Rask and Drew Meredith break down the WiseTech Global (ASX: WTC) ACCC raid, Moderna’s (NASDAQ: MRNA) extraordinary cancer vaccine breakthrough, and the latest ASX reporting season results from Pro Medicus (ASX:PME), CSL Ltd (ASX:CSL), Challenger (ASX:CGF) and XRF Scientific (ASX:XRF).

WiseTech Global (ASX: WTC) shares plunged after the Australian Competition and Consumer Commission (ACCC) executed a search warrant at the logistics software giant as part of an investigation into alleged competition law breaches.

Meanwhile, in the US, Moderna (NASDAQ: MRNA) shares exploded higher after Moderna and Merck announced positive Phase 3 results for their personalised mRNA cancer vaccine in patients with high-risk melanoma — one of the biggest single-day moves we’ve seen in a major biotechnology stock.

And it’s reporting season in Australia.

Owen Rask and Drew Meredith dig into the latest FY26 financial results from some of the ASX companies investors are watching most closely, including Pro Medicus Limited (ASX: PME), CSL Limited (ASX: CSL), Challenger Limited (ASX: CGF) and XRF Scientific Limited (ASX: XRF).

Topics covered

– WiseTech Global (ASX: WTC): the ACCC search warrant, competition concerns, the WiseTech share price fall and what investors should actually focus on

– Moderna (NASDAQ: MRNA): the personalised mRNA melanoma vaccine being developed with Merck, the positive Phase 3 trial and why the Moderna share price surged

– Pro Medicus (ASX: PME): breaking down the FY26 result and what the latest numbers mean for the Pro Medicus investment thesis

– CSL (ASX: CSL): FY26 results, the healthcare giant’s reset and what investors should watch next

– Challenger (ASX: CGF): FY26 financial results and the outlook for one of Australia’s largest retirement income businesses

– XRF Scientific (ASX: XRF): the small-cap ASX company’s latest financial results and long-term growth story

– Why share price volatility can create both risk and opportunity for long-term investors

– How Owen and Drew think about company results, valuation, market expectations and changing investment theses during ASX reporting season

If you invest in Australian shares, ASX stocks, growth stocks or US shares, this episode is a practical look at what is moving markets right now — and how long-term investors can separate important information from short-term stock market noise.

Subscribe to the Australian Investors Podcast for twice-weekly conversations about investing, ASX shares, global stocks, ETFs, portfolio management, business, psychology and long-term wealth creation.

Episode resources

– Speak with the Rask Advice team

– Ask a question (select the Investors podcast)

Show partner resources

– ETF investor? Go beyond ordinary with Global X: View all funds

– Visit TermPlus to learn more

– Join Pearler using the code "RASKSWITCH" and get $32 of Pearler Credit

– Whatever comes next for your business, power it with Stripe

Rask resources

– All services

– Financial Planning

– Invest with us

– Access Show Notes

– Ask a question

– We love feedback!

Follow us on social media

– Instagram: @rask.invest

– TikTok: @rask.invest

DISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser. Access The Rask Group's Financial Services Guide (FSG): https://www.rask.com.au/fsg
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In this Australian Investors Podcast episode, Owen Rask sits down with Billy Leung from Global X for episode two of the portfolio construction series, this time focusing on the part of investing that attracts the most attention: growth.

Billy explains why the first decision is not picking a hot ETF but understanding asset allocation, equity exposure and where growth actually comes from. He unpacks why Australian investors can end up too concentrated at home, why the local market behaves differently to global markets, and why sectors that reinvest for compounding can look very different from sectors built around distribution.

The conversation also explores a common investor trap: chasing whatever has just gone up the most. Billy explains how to think about sustainability, valuation and whether a theme is pricing in too much future optimism. AI, semiconductors, cloud infrastructure and China tech all come up as case studies in how to separate structural growth from short-term excitement.

They finish with a practical framework for building the growth sleeve of a portfolio: start broad, then narrow with intention. Billy shares three ETFs to research further, including global AI exposure, AI infrastructure and China technology, giving investors a clearer way to think about growth without treating every trend as a green light.

If you want a smarter lens on growth investing, thematic ETFs and portfolio construction, this episode is a practical next step.

Episode resources

– Speak with the Rask Advice team

– Ask a question (select the Investors podcast)

Show partner resources

– ETF investor? Go beyond ordinary with Global X: View all funds

– Visit TermPlus to learn more

– Join Pearler using the code "RASKSWITCH" and get $32 of Pearler Credit

– Whatever comes next for your business, power it with Stripe

Rask resources

– All services

– Financial Planning

– Invest with us

– Access Show Notes

– Ask a question

– We love feedback!

Follow us on social media

– Instagram: @rask.invest

– TikTok: @rask.invest

DISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser. Access The Rask Group's Financial Services Guide (FSG): https://www.rask.com.au/fsg
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In this episode of Australian Investors Podcast, Owen Rask sits down with Mark Jones from Resolution Capital to unpack why listed infrastructure may be one of the most compelling risk-adjusted opportunities in markets right now.

Mark explains what global listed infrastructure actually includes, why the best assets tend to have pricing power, long lives and high earnings visibility, and why that matters when uncertainty is rising. The conversation breaks down how professional investors separate true infrastructure from lookalikes, why active management can matter more in a finite universe, and how investors should think about inflation protection, portfolio construction and long-term compounding.

Along the way, Owen and Mark use real examples including Transurban, AGL, Origin and Greek infrastructure assets to show why labels matter, where passive products can miss the mark, and how a disciplined investor can think more clearly about downside as well as upside. They finish with a timeless lesson on the rule of 72 and why steady returns can be more powerful than chasing the next 10-bagger.

If you want a clearer framework for thinking about infrastructure, active versus passive investing and the role of real assets in a portfolio, this episode is well worth your time.

Episode resources

– Resolution Capital

– Speak with the Rask Advice team

– Ask a question (select the Investors podcast)

Show partner resources

– ETF investor? Go beyond ordinary with Global X: View all funds

– Visit TermPlus to learn more

– Join Pearler using the code "RASKSWITCH" and get $32 of Pearler Credit

– Whatever comes next for your business, power it with Stripe

Rask resources

– All services

– Financial Planning

– Invest with us

– Access Show Notes

– Ask a question

– We love feedback!

Follow us on social media

– Instagram: @rask.invest

– TikTok: @rask.invest

DISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser. Access The Rask Group's Financial Services Guide (FSG): https://www.rask.com.au/fsg
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In this Australian Investors Podcast episode, Owen Rask sits down with Jason Kotchoff, founder of Stocklight, to unpack one of the hardest parts of investing: understanding how news actually moves share prices.

From ASX announcements and continuous disclosure to US SEC filings and the EDGAR system, this conversation explains how information reaches the market, why some updates send stocks higher, and why "good" news can still trigger a sell-off.

Owen and Jason walk through real examples including DroneShield, Megaport and NextDC, showing how price-sensitive announcements are flagged, how directors' trades can shape investor sentiment, and why context matters more than headlines. They also compare Australia's market structure with the United States, highlighting the difference between the ASX's central role and the SEC's rules-based system across many exchanges.

The episode also explores the investor information edge in 2026. Jason explains how tools like Stocklight can help investors track portfolios, filter the announcement firehose and stay tax-aware, while Owen presses the bigger question: can individual investors really keep up when professional firms and AI-powered tools are on the other side of the trade?

If you want a clearer framework for interpreting market news, company announcements and portfolio signals, this episode will help you understand what matters, what to ignore and how to think before you act.

Episode resources

– Stocklight

– Speak with the Rask Advice team

– Ask a question (select the Investors podcast)

Show partner resources

– ETF investor? Go beyond ordinary with Global X: View all funds

– Visit TermPlus to learn more

– Join Pearler using the code "RASKSWITCH" and get $32 of Pearler Credit

– Whatever comes next for your business, power it with Stripe

Rask resources

– All services

– Financial Planning

– Invest with us

– Access Show Notes

– Ask a question

– We love feedback!

Follow us on social media

– Instagram: @rask.invest

– TikTok: @rask.invest

DISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser. Access The Rask Group's Financial Services Guide (FSG): https://www.rask.com.au/fsg
Learn more about your ad choices. Visit megaphone.fm/adchoices