Disclaimer: This is general advice only. It doesn't take your personal circumstances into account. Please speak to a licensed adviser before acting on anything in this episode.

Looking for personal financial advice? Our friends at Clime Investment Management offer tailored advice and financial planning services across most states. Learn more: marcustoday.com.au/about-us/financial-planning-with-clime/

Prefer someone to invest for you? The Marcus Today Managed Strategy Portfolio applies the same strategy we write about daily – but we manage it for you, using Australian-listed ETFs and a long-term growth approach. Find out more: marcustoday.com.au/managed-portfolios/

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On this Christmas episode of 'On the Couch,' we sit down with Adam Dawes from Shaw and Partners, and we discuss what we have learned from 2025 and more importantly, what themes and stocks we should be watching in 2026.

Adam is a long-time friend of the podcast series and a frequent guest on many media outlets, showcasing his experience and investment wisdom.

In this discussion, we talk stocks, and themes for 2026.

Disclaimer: This is general advice only. It doesn't take your personal circumstances into account. Please speak to a licensed adviser before acting on anything in this episode.

Want to invest with Marcus Today? The MT20 portfolio is designed for investors seeking exposure to our strategy while we do the hard work for you.

If you’re looking for personal financial advice, our friends at Clime Investment Management can help. Their team of licensed advisers operates across most states, offering tailored financial planning services.

Subscribe to Marcus Today and stay ahead with expert research and analysis.

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Welcome to the latest episode of On the Couch.

In this episode, Henry Jennings is joined by Dr Francis Wedin, Chair of Vulcan Energy (ASX: VUL). A long-time friend of the podcast, Francis founded Vulcan around seven years ago. He was previously Executive Director of ASX-listed Exore Resources, where he successfully developed two new lithium resources across two continents.

Vulcan Energy has recently announced a comprehensive funding package for its flagship Upper Rhine Valley lithium–geothermal project, Lionheart. Backed by some of Europe's largest banks and institutions, the company now has the capital to begin construction on Phase 1 of this ambitious project.

Talking Points

• What exactly does Vulcan do?
• Where is the Lionheart project located?
• How easy was it to secure the funding?
• The funding package is complex – what are its key features in simple terms?
• Is the team in place to construct a project of this scale?
• What sets Vulcan apart from the rest?
• Vulcan has a loyal shareholder base, including Hancock Prospecting – how important is that support?
• What happens next?

Disclaimer: This is general advice only. It doesn't take your personal circumstances into account. Please speak to a licensed adviser before acting on anything in this episode.

Looking for personal financial advice? Our friends at Clime Investment Management offer tailored advice and financial planning services across most states. Learn more: marcustoday.com.au/about-us/financial-planning-with-clime/

Prefer someone to invest for you? The Marcus Today Managed Strategy Portfolio applies the same strategy we write about daily – but we manage it for you, using Australian-listed ETFs and a long-term growth approach. Find out more: marcustoday.com.au/managed-portfolios/

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Welcome to the latest episode of On the Couch.

In this episode, Henry Jennings is joined by Jon Pilcher, CEO of Neuren Pharmaceuticals (ASX: NEU). The pair first spoke around three years ago, and with Neuren delivering impressive results for investors since then, it felt like the perfect time for a catch-up – especially with 2026 shaping up to be another pivotal year.

Jon joined Neuren in 2013 as CFO and was appointed CEO in May 2020.

Neuren is focused on developing new therapies for highly debilitating neurodevelopmental disorders that emerge in early childhood and are characterised by impaired connections and signalling between brain cells.

Its lead product, trofinetide (NNZ-2566), is licensed to Acadia Pharmaceuticals for North America, with Neuren retaining all rights outside North America and full access to all data generated by Acadia.

Talking Points

• Neuren has evolved from a pre-revenue, option-value story to a profitable company with royalties now flowing. What does the market still misunderstand most about the business today?
• DAYBUE is the first and only approved treatment for Rett syndrome, with strong real-world persistence. What does the 'second phase' of growth look like as Acadia pushes further into community neurologists and global markets?
• How is Neuren thinking about capital allocation now – offensive, defensive, or focused on strategic optionality?
• The share price peaked around A$25 but now sits closer to A$18 – despite more data, more cash, and less risk. What's behind that disconnect?
• NNZ-2591 is emerging as a true platform drug with multiple late-stage opportunities. If PMS, Pitt Hopkins, and Angelman syndrome all succeed, how large could this franchise realistically become?
• Pitt Hopkins now has Fast Track designation, new patents, and an FDA meeting on the horizon. Could it become Neuren's second registrational program – and what would that mean for the company's scale?
• One of the things investors admire about Neuren is its ability to fund development entirely from internal cash flow. Under what circumstances would equity funding ever be back on the table?
• With DAYBUE expanding globally and NNZ-2591 moving into multiple late-stage programs, what does Neuren look like in 3–5 years? A royalty engine, a commercial business – or something much bigger?

Disclaimer: This is general advice only. It doesn't take your personal circumstances into account. Please speak to a licensed adviser before acting on anything in this episode.

Looking for personal financial advice? Our friends at Clime Investment Management offer tailored advice and financial planning services across most states. Learn more: marcustoday.com.au/about-us/financial-planning-with-clime/

Prefer someone to invest for you? The Marcus Today Managed Strategy Portfolio applies the same strategy we write about daily – but we manage it for you, using Australian-listed ETFs and a long-term growth approach. Find out more: marcustoday.com.au/managed-portfolios/

Want to take control of your own investing? Start a free 14-day trial of the Marcus Today newsletter and get daily insights, analysis, and model portfolios designed for self-directed investors. Sign up here: marcustoday.com.au/trial-sign-up/

Welcome to the latest episode of On the Couch.

In this episode, Henry Jennings sits down Trade View Founder, Robert Bubalovski and talk everything Algo and AI. Robert founded Trade View some 14 years ago to allow traders to develop their own models and systems, giving them the power to harness Algos to develop strategies and take the emotion out of the equation.

Robert is also known (at least by me) as 'The Trading Stig'.

In this episode, Henry and Robert discuss:

• Firstly, what is algo trading?
• How big an influence is algo trading now?
• When I look at the massive volatility we see in today’s markets, does that derive from far more algo trading?
• Why is it so successful?
• Do you need any special skills?
• Where does Trade View come in?
• How does it help traders become better at what they do?
• Is this a way to compete with the large institutions?
• How is AI changing trading?
• Is there a place for traditional retail investors in today’s world?
• What advice can you give to someone who wants to take their trading to the next level?

Disclaimer: This is general advice only. It doesn't take your personal circumstances into account. Please speak to a licensed adviser before acting on anything in this episode.

Looking for personal financial advice? Our friends at Clime Investment Management offer tailored advice and financial planning services across most states. Learn more: marcustoday.com.au/about-us/financial-planning-with-clime/

Prefer someone to invest for you? The Marcus Today Managed Strategy Portfolio applies the same strategy we write about daily – but we manage it for you, using Australian-listed ETFs and a long-term growth approach. Find out more: marcustoday.com.au/managed-portfolios/

Want to take control of your own investing? Start a free 14-day trial of the Marcus Today newsletter and get daily insights, analysis, and model portfolios designed for self-directed investors. Sign up here: marcustoday.com.au/trial-sign-up/

Welcome to the latest episode of On the Couch.

In this episode, Henry Jennings sits down with trading mentor and author Louise Bedford – always a popular guest, offering valuable insights into markets and trading mentality.

Louise is a behavioural finance expert, bestselling author, and seasoned trader with over 30 years of experience. She hosts the Talking Trading podcast and is widely regarded as one of Australia's most compelling voices in the financial markets today.

Disclaimer: This is general advice only. It doesn't take your personal circumstances into account. Please speak to a licensed adviser before acting on anything in this episode.

Looking for personal financial advice? Our friends at Clime Investment Management offer tailored advice and financial planning services across most states. Learn more: marcustoday.com.au/about-us/financial-planning-with-clime/

Prefer someone to invest for you? The Marcus Today Managed Strategy Portfolio applies the same strategy we write about daily – but we manage it for you, using Australian-listed ETFs and a long-term growth approach. Find out more: marcustoday.com.au/managed-portfolios/

Want to take control of your own investing? Start a free 14-day trial of the Marcus Today newsletter and get daily insights, analysis, and model portfolios designed for self-directed investors. Sign up here: marcustoday.com.au/trial-sign-up/

Welcome to the latest episode of On the Couch.

In this episode, Henry Jennings is joined by his good friend and long-time market guru Jonathon Higgins from Unified Capital Partners – along with Jonathon's colleague, James Bisinella, Senior Equities Research Analyst at UCP in Melbourne.

Most listeners will already be familiar with Jonathon's valuable contributions over the years, and James brings his own sharp perspective to the table.

First of all, congratulations are in order – with some standout stock picks recently, it's fair to say their clients must be pretty happy.

Talking Points

• How should investors feel about the market right now?
• Is the hype in AI and tech starting to look overvalued – and is that a concern?
• Which sectors are worth watching for outperformance?
• What are your top three stocks to buy now – and why?
• ZIP has had a great run – can it keep going?
• EOL has been an absolute screamer from Jonathon – is there more to come?
• What risks or Black Swan events are on the radar right now?
• Where should investors be taking profits?

Disclaimer: This is general advice only. It doesn't take your personal circumstances into account. Please speak to a licensed adviser before acting on anything in this episode.

Looking for personal financial advice? Our friends at Clime Investment Management offer tailored advice and financial planning services across most states. Learn more: marcustoday.com.au/about-us/financial-planning-with-clime/

Prefer someone to invest for you? The Marcus Today Managed Strategy Portfolio applies the same strategy we write about daily – but we manage it for you, using Australian-listed ETFs and a long-term growth approach. Find out more: marcustoday.com.au/managed-portfolios/

Want to take control of your own investing? Start a free 14-day trial of the Marcus Today newsletter and get daily insights, analysis, and model portfolios designed for self-directed investors. Sign up here: marcustoday.com.au/trial-sign-up/

Welcome to the latest episode of On the Couch.

In this episode, Henry Jennings chats with Dr Mark Bennett, Non-Executive Chair at Falcon Metals (ASX: FAL).

Dr Bennett is a highly experienced geologist and mining executive with over 30 years' experience in gold and base metal exploration. He was the founding Managing Director and CEO of Sirius Resources (ASX: SIR), where he received the AMEC "Prospector of the Year Award" for the world-class Nova-Bollinger nickel-copper discovery in 2013.

Mark brings deep expertise in corporate affairs, equity capital markets, investor relations and community engagement. He led Sirius from pre-discovery all the way through to construction, before overseeing its merger with IGO.

He is currently Executive Chairman of S2 Resources (ASX: S2R) and a Non-Executive Director at Todd River Resources (ASX: TRT).

Talking Points

• A bit of background on Falcon Metals
• What attracted Mark to FAL?
• Why the strong share price performance in recent months – what's driving it?
• How is FAL doing things differently?
• Was Blue Moon the original focus?
• Blue Moon is shaping up nicely – some more colour on the current drilling campaign
• What kind of results are coming through?
• How much drilling is underway?
• What should investors watch for in the back half of 2025?

Disclaimer: This is general advice only. It doesn't take your personal circumstances into account. Please speak to a licensed adviser before acting on anything in this episode.

Looking for personal financial advice? Our friends at Clime Investment Management offer tailored advice and financial planning services across most states. Learn more: marcustoday.com.au/about-us/financial-planning-with-clime/

Prefer someone to invest for you? The Marcus Today Managed Strategy Portfolio applies the same strategy we write about daily – but we manage it for you, using Australian-listed ETFs and a long-term growth approach. Find out more: marcustoday.com.au/managed-portfolios/

Want to take control of your own investing? Start a free 14-day trial of the Marcus Today newsletter and get daily insights, analysis, and model portfolios designed for self-directed investors. Sign up here: marcustoday.com.au/trial-sign-up/