Stocks Neat

Has AI brought Judgment Day for SaaS, or just created a new hunting ground for investors willing to be selective? 

In this episode of Stocks Neat, Steve Johnson and Gareth Brown explore the sell-off across global software, the businesses most exposed to disruption, and the ones they believe remain sticky, embedded and undervalued.

 With contributions from portfolio manager Alex Shevelev on the Australian market and analyst ...

Built to Last

From navigating market cycles to building a more resilient financial firm, MA Financial co-CEO Julian Biggins joins Steve Johnson for a special episode of Stocks Neat.

Julian reflects on what makes businesses endure when conditions get tougher, and why long-term success comes not from chasing every opportunity, but from surviving the cycle.

As he puts it: “You don’t need to win everywhere. You just need to su...

Episode 40: The Business of Booze: Can “Zero” Be Diageo's Comeback Story? 

Alcohol has long been seen as a reliable, cash-generative industry. But in this episode of Stocks Neat, Steve Johnson and Gareth Brown explore why that assumption is being challenged and whether the sector can adapt.

Drawing on Gareth’s recent meetings in London, including discussions with global drinks giant Diageo (LON:DGE), the co...

High Performance In and Out of the Pool

From Olympic gold to the ASX 200, Generation Development CEO Grant Hackett joins Steve Johnson for a special episode of Stocks Neat.

They discuss Grant’s journey from elite sport to business leadership, the importance of purpose beyond success, and how lessons from swimming translate into building a $3 billion company.

As Grant shares: “You’re retired to something, not from som...

In the latest Stocks Neat episode, Steve Johnson, Gareth Brown and Isabella Foley dive into Japan’s corporate transformation — from shareholder returns and buybacks to digitisation and the demographic shifts reshaping opportunities.

“It’s been like a snowball that’s been pushing across a flat surface for a long period of time. It’s finally started to gather some momentum.” – Steve John...

As the financial year wraps, Episode 37 of Stocks Neat takes a deep dive into the standout performance of Financial Year 25. Chief Investment Officer Steve Johnson is joined by Portfolio Managers, Gareth Brown and Alex Shevelev to discuss what drove results across Forager’s international and Australian funds — from Japanese software gems to ASX tech turnarounds and undervalued relics making quiet comebacks.

The conversat...

Alternative assets are going mainstream — but are investors ready?

In this special episode of Stocks Neat, Steve Johnson is joined by Stephen Darke, CEO of Navigator Global Investments, to unpack the ever-expanding world of alternative assets: from hedge funds and seeding strategies to manager selection and structural risks.

With decades of experience allocating capital globally, Stephen shares what it takes to identify a repea...

Markets are swinging wildly, and policy tweets aren’t helping. In this quarter’s podcast, Chief Investment Officer, Steve Johnson, and Forager International Shares Fund Portfolio Manager, Harvey Migotti, dive into the renewed tariff chaos sparked by Donald Trump’s latest announcements. They explore what it could mean for US exceptionalism, inflation expectations, and global investor sentiment.

From the bond market'...

In Episode 34 of Stocks Neat, Chief Investment Officer, Steve Johnson, and Portfolio Manager, Gareth Brown, take a deep dive into the challenges facing active fund management giants Magellan and Platinum, and the lessons for investors seeking long-term outperformance. They unpack what’s gone wrong, the rise of ETFs, and why small-cap opportunities remain a crucial edge for Forager.

The discussion explores industry trends, the ...

As we approach Forager's 15th birthday, in Episode 33 of Stocks Neat, CIO Steve Johnson and Portfolio Manager Gareth Brown dive into the 50bps rate cut in the US and its impact on small-cap stocks. They unpack the latest market moves, spotlight companies like #Motorpoint and #Ferguson poised to benefit from lower rates, and share their strategies amidst ongoing volatility. 

The discussion explores resilient businesses, ...

As we close out the 2024 financial year, in Episode 32 of Stocks Neat, CIO Steve Johnson, and Portfolio Manager Alex Shevelev, do a deep dive into the state of small-cap stocks and the latest market movements. 

They discuss recent market volatility, spotlight resilient companies with strong recurring revenue, and share their stock-picking strategies. The episode also covers risk management approaches and provides insights on fu...

In episode 31 of Stocks Neat, Portfolio Manager Gareth Brown and CIO Steve Johnson discuss Nvidia’s unprecedented rise, the recent Guzman y Gomez IPO, current investor sentiment and macroeconomic concerns.

They examine the future competitive landscape of the AI chip space and Guzman’s plans for global expansion. Moving onto the whiskey tasting, they then test a Glenturret whiskey from the "supposed" oldest disti...

In episode 30 of Stocks Neat, Portfolio Manager Harvey Migotti and CIO Steve Johnson discuss recent portfolio performance including which surprise sectors have started contributing in 2024. They cover a wide range of topics including AI related companies, China worries, and overlooked opportunities in sectors such as European financials. The conversation then moves to portfolio management and how changing market perceptions of comp...

In episode 29 of Stocks Neat Co-Portfolio Manager Gareth Brown and CIO Steve Johnson discuss several investing maxims, and how these might apply to portfolio positioning in prior and current markets.  

Topics covered include cleaning portfolios to include only high conviction ideas, selling when you can, maintaining cash in the portfolio, how to deploy cash in a downturn, and identifying diversity breakdowns that result from cr...

In episode 28 of Stocks Neat Co-Portfolio Manager Gareth Brown and CIO Steve Johnson discuss the prospect of price gouging in major Australian industries, the role future Competition Policy has to play, and the potential implications for investors. 

The topic of competition problems in Australia has garnered increased publicity in recent times, driven by concerns over long-term productivity issues and the more immediate...

In episode 27 of Stocks Neat Co-Portfolio Manager Gareth Brown and CIO Steve Johnson discuss the recent performance of small caps and the psychology of investing. 

Understanding the psychology of ourselves and others can go a long way to helping us navigate through life. Markets and investing is no different. Understanding this can enable us to avoid biases and regulate emotions to make rational and effective investment...

In episode 26 of Stocks Neat Co-Portfolio Manager Harvey Migotti, Analyst Nicholas Plessas and CIO Steve Johnson sit down to discuss the year just passed in markets, most notably a strong rally in uranium and the small cap recovery at the end of 2023.

The uranium story grew throughout 2023 with the spot price increasing through the year. This was discussed in detail in Stocks Neat episode 22, where Harvey and Steve explored ...

For our holiday edition of Stocks Neat, Alex Shevelev, Portfolio Manager of the Forager Australian Shares Fund, is filling in for Steve and Gareth and he’s joined by a special guest, Will Lopes. 

Will is the CEO and Managing Director of Catapult (ASX: CAT) which has been an investment of the Australian Shares Fund for a number of years. With origins in the Australian Institute of Sport, CAT has pioneered the sports wearab...

In the latest episode of Stocks Neat, Steve Johnson and Harvey Migotti discuss what they learned on their recent trip to the US and Japan. 

Their trip started in Chicago at an industrials conference, which gave the pair a  temperature check on what is happening in the US economy. Then, Steve and Harvey visited Tokyo to meet with a few companies undergoing transformational changes in the IT space. 

Liste...