Welcome to the latest episode of On the Couch with myself, Henry Jennings from Marcus Today. In this episode, I am talking to my old friend, Richard Morrow, Lowell Resource Trust (LRT). We talk all things gold, why he still likes it and which stocks he recommends. Richard is the former Chair of the Melbourne Mining Club and a director of LRT.

A great look at the gold sector from my guru in the space.

Marcus Today – Daily Market Insights

Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.

If you'd like to go further:

Start a free 14-day trial of Marcus Today
http://bit.ly/mt-trial-podcast

Join Marcus Today
Use code MTPODCAST for 10% off
http://bit.ly/mt-join-podcast-offer

MT20 – Managed ETF Portfolio
A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
http://bit.ly/mt20-podcast

Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast

—

Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.

A bit of a different approach at Marcus Today; Callum Newman sits down with Gary Norden, a 35+ year pro trader (LIFFE floor, bank derivatives desks, hedge funds) and the author of An End to the Bull - to talk how the pros actually trade when it’s their own money on the line.

In this conversation, Gary explains how professional traders really approach markets; building an edge through knowledge, skill and risk management - and why much of the “sell-side research” investors read is often just a sales tool dressed up as insight.

We cover:

• The professional trader’s edge – skills, knowledge, and risk management
• Why bank research gets “taken with a pinch of salt”
• Day trading vs punting – order flow trading as a real craft
• Can humans still compete with algorithms/HFT?
• ETFs, concentration risk, and the “all in / all out” market
• Options – why Gary prefers buying options (hedging + asymmetric upside)
• Gold and silver – why the bull case may not be done yet
• China, commodities, and what Gary sees on the ground

Standout moments (timestamps):

• 03:58 Why traders ignore sell-side research
• 06:12 Day trading as a professional skill (order flow)
• 11:56 AI, ETFs, and the concentration problem
• 19:35 Options as portfolio “insurance”
• 26:47 Gold vs silver, miners, and what to watch
• 48:25 The red jacket story (and what it meant on the floor)

Gary’s book: An End to the Bull: Cut Through the Noise to Develop a Sustainable Trading Career (John Wiley & Sons).

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Marcus Today – Daily Market Insights

Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.

If you'd like to go further:

Start a free 14-day trial of Marcus Today
http://bit.ly/mt-trial-podcast

Join Marcus Today
Use code MTPODCAST for 10% off
http://bit.ly/mt-join-podcast-offer

MT20 – Managed ETF Portfolio
A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
http://bit.ly/mt20-podcast

Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast

—

Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.

Welcome to another episode of On the Couch, the podcast series where we chat with brokers, CEOs, and fund managers to bring you valuable insights from the investing world.

In this quickie episode, Henry Jennings is joined by his good friend Andrew Wielandt – also known as The ETF Whisperer.

Andrew shares his ETF picks for the year ahead… and not a QUAL in sight.

Chapter Markers

• 0:00 – Welcome And General Advice Reminder
• 2:03 – 2026 Outlook: Volatility And Passive Risks
• 5:20 – US Politics, Dollar Views And Silver Shock
• 7:10 – Theme 1: Diversifying Away From US With VEU
• 9:10 – Hedging The Currency And Core Adjustments
• 12:00 – Theme 2: Japan Exposure With IJP
• 15:00 – Theme 3: Long Short LICs And LITs Toolkit
• 22:30 – Why Long Short Now And Portfolio Weights
• 25:00 – Theme 4: Aussie Small Caps With Firetrail
• 28:00 – Theme 5: Resources Via Tribeca TGF Or VanEck MVR

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Marcus Today – Daily Market Insights

Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.

If you'd like to go further:

Start a free 14-day trial of Marcus Today
http://bit.ly/mt-trial-podcast

Join Marcus Today
Use code MTPODCAST for 10% off
http://bit.ly/mt-join-podcast-offer

MT20 – Managed ETF Portfolio
A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
http://bit.ly/mt20-podcast

Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast

—

Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.

Welcome to another episode of On the Couch.

In this episode, Henry Jennings catches up with Scott Kirkland from EMVision Medical Devices (ASX: EMV).

Scott is the co-founder of EMVision Medical Devices Ltd and has held several senior sales roles, including Head of Client Sales at US-based technology company Quantcast, before founding Kirkland Capital to focus on emerging technologies.

At EMVision, Scott oversees corporate affairs, commercial strategy, and business development, while also managing the company's capital requirements – including non-dilutive financing and grant opportunities. He is a member of the Australian Institute of Company Directors.

Many listeners will be familiar with the EMVision story, but in this episode, Scott brings us up to date on the company's mission and progress – as it continues to develop breakthrough medical devices for stroke diagnosis in both first responder and hospital settings.

Chapter Markers

• 0:00 – Welcome, Disclaimers And Personal Stories
• 2:23 – EMVision's Mission And Devices
• 4:15 – First Responder Helmet And ECG Analogy
• 6:03 – The Golden Hour And Treatment Windows
• 8:12 – Trials, Sites And FDA De Novo Plan
• 10:15 – Grants, Regional Impact And Reimbursement
• 12:02 – AI In Stroke Care And Workflow Gains
• 14:05 – Cash Runway, Partners And Milestones
• 16:06 – Go-To-Market Focus And Stroke Belt
• 17:45 – Risks, Focus And Business Model
• 19:00 – Closing Thanks And Next Steps

—

Marcus Today – Daily Market Insights

Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.

If you'd like to go further:

Start a free 14-day trial of Marcus Today
http://bit.ly/mt-trial-podcast

Join Marcus Today
Use code MTPODCAST for 10% off
http://bit.ly/mt-join-podcast-offer

MT20 – Managed ETF Portfolio
A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
http://bit.ly/mt20-podcast

Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast

—

Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.

Welcome to the latest episode of On the Couch.

In this episode, Henry Jennings from Marcus Today sits down with Nathan Smith, CEO of Neuroscientific Biopharmaceuticals, to unpack how a differentiated mesenchymal stem cell therapy is progressing from acquisition to patient impact in refractory Crohn's disease.

With promising real-world data via special access programs, a clear regulatory path, and lean execution, the company is preparing for a focused Phase 2 push in 2026.

Topics covered in this episode:

• What the StemSmart MSC platform is – and why differentiation matters
• Special access program results in fistulising Crohn's
• Prior early-phase data and how it informs trial design
• Market size for refractory Crohn's and broader inflammatory targets
• Regulatory steps, including pre-IND and TGA interactions
• Manufacturing tech transfer with QGen and licensure plans
• 2026 milestones across CRO onboarding, trial initiation, and IP expansion
• Cash runway to trial start and approach to raising capital
• Competitive landscape and lessons from Mesoblast's US approval
• A CEO's take on what actually drives market value

—

Marcus Today – Daily Market Insights

Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.

If you'd like to go further:

Start a free 14-day trial of Marcus Today
http://bit.ly/mt-trial-podcast

Join Marcus Today
Use code MTPODCAST for 10% off
http://bit.ly/mt-join-podcast-offer

MT20 – Managed ETF Portfolio
A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
http://bit.ly/mt20-podcast

Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast

—

Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.

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, known for her valuable insights into markets and trading mentality.

Louise shares her approach to selling, the importance of discipline, and breaks down what sectors are currently hot – and which ones are ice cold.

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

Chapter Markers

• 0:04 – Welcome And Ground Rules
• 1:49 – Macro Whip-Around: US Vs Australia
• 3:21 – Hot And Cold Sectors Revealed
• 5:01 – Tech's Ice Age And What It Means
• 7:49 – Small Caps, Resources, Materials Opportunities
• 8:53 – Chart Signals: Lithium Standouts
• 10:25 – Managing Big Wins With Thirds
• 13:10 – Stops, ATRs, And Psychology
• 15:22 – Love Affairs With Stocks And Objectivity
• 16:58 – Handling Reporting Season Volatility
• 19:12 – Overtrading, Plans, And The Inner Lunatic
• 21:08 – Using AI As A Trading Mirror
• 23:02 – Agent Mode, Scans, And The Future
• 25:09 – Final Takeaways: Process And Discipline

—

Marcus Today – Daily Market Insights

Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.

If you'd like to go further:

Start a free 14-day trial of Marcus Today
http://bit.ly/mt-trial-podcast

Join Marcus Today
Use code MTPODCAST for 10% off
http://bit.ly/mt-join-podcast-offer

MT20 – Managed ETF Portfolio
A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
http://bit.ly/mt20-podcast

Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast

—

Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.

Welcome to the latest episode of On the Couch.

In this episode, Henry Jennings is joined by Jonathon Higgins from Unified Capital Partners. A frequent guest on the podcast, Jonathon needs no introduction. He is Head of Research at boutique broker UCP and, as always, brings some great stock selections to the table.

—

Marcus Today – Daily Market Insights

Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.

If you'd like to go further:

Start a free 14-day trial of Marcus Today
http://bit.ly/mt-trial-podcast

Join Marcus Today
Use code MTPODCAST for 10% off
http://bit.ly/mt-join-podcast-offer

MT20 – Managed ETF Portfolio
A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
http://bit.ly/mt20-podcast

Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast

—

Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.

Welcome to the latest episode of On the Couch.

In this episode, Henry Jennings sits down with Armina Rosenberg, co-founder of funds management group Minotaur Capital.

Armina represents a new breed of 'rock star' fund manager – one harnessing the power of AI to build a fund unlike any other.

From a childhood in Western Sydney to running global equities for the Atlassian founders, Armina's story fuels a clear mission: broaden who allocates capital, and sharpen how capital is deployed.

Markets are moving faster than most investment processes. In this conversation, Armina discusses Minotaur Capital, how an AI-native workflow can identify structural change earlier, compress research cycles from days to minutes, and keep human judgement where it matters most. A fascinating glimpse into the future of investing.

Chapter Markers

• 0:06 – Meet Armina and Minotaur Capital
• 1:52 – From Western Sydney To JP Morgan
• 3:37 – Running Atlassian Founders' Global Equities
• 4:56 – Why Start Minotaur And What's Different
• 7:01 – Building Tauriant: AI For Idea Discovery
• 10:56 – From Snapshots To Full Initiations
• 13:45 – Monitoring, Thesis Checks, And AI Agents
• 15:00 – Humans In The Loop And Portfolio Sizing
• 16:40 – 2026 Outlook: AI, Volatility, Software Risks
• 20:08 – Is There A Tech Bubble Or Just Rotation
• 23:01 – Five Lessons From Launching A Fund
• 30:23 – Closing Thoughts And An Open Invitation

—

Marcus Today – Daily Market Insights

Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.

If you'd like to go further:

Start a free 14-day trial of Marcus Today
http://bit.ly/mt-trial-podcast

Join Marcus Today
Use code MTPODCAST for 10% off
http://bit.ly/mt-join-podcast-offer

MT20 – Managed ETF Portfolio
A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
http://bit.ly/mt20-podcast

Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast

—

Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.