Success and More Interesting Stuff

Richard White always wanted to be a rockstar. He was still young when it dawned upon him that it might be more profitable and realistic to become a tech titan instead. Sounds simple enough, but the journey has taken many twists and turns. Over 40 odd years, White thought life was perfect, hanging out in a rock band and rubbing shoulders with the likes of ACDC and The Angels. Unfortunately, he was going broke. A problem solver, he pivoted and thought repairing guitars for established rock stars was a way to make an interesting living. The business was a resounding success, but it wasn't perfect. It couldn't be scaled. And another salient lesson was learned. Nexy, a lighting business was built and sold, and then a stint in the computer hardware distribution game rounded out some much-needed business skills. In between ventures, White took on some consultancy work. Just by chance, some of his clients were in the freight forwarding game and White, ever alert, identified things could be done a lot better. So he got to work again and started writing software. Even though he had little practical training, he had twigged the entire freight forwarding industry needed a hand, and he took his products and started selling them more broadly. It is rare that one individual can write the software and then sell it. That was way back in the late 1980s. During the 1990s, his business became the platform for many major transport companies. Not satisfied, White decided to disrupt his own business. In the early 2000s, he rebuilt his product suite before forging into North America and Europe with a name changed to WiseTech. The company followed its customers and spread its tentacles around the globe. In 2016, White decided to list on the ASX. He thought publicly traded shares would give him the currency he needed to buy the missing bits to cement a global empire. And he was right. Close to 50 acquisitions later, WiseTech owns the space. The share price has risen a staggering 26 times from $3.35 to $90. Today WiseTech is valued at $30 billion and is the largest software company listed on the ASX. According to White, the music is still playing. And WiseTech has a few hit songs to knock out yet. Note: This podcast was recorded on Wednesday 24 April 2024. Timecodes:

A revolution has taken place in share investing since the turn of the century. American firms have led the charge with the likes of Vanguard and Blackrock taking passive investing around the globe. Disenchantment with active fund managers has seen funds flow into the passive sector, accelerated by the emergence of exchange traded funds, or simply ETF’s. In Australia, the revolution arrived late. Active managers held sway for many years before eventually the dam wall broke. The American behemoths came hard, but they didn’t have it their own way. Aussie startup Betashares grew out of the GFC and took up the fight. Cobbled together by Alex Vynokur, an immigrant from the former Soviet Union, it wasn’t long before Betashares captured the attention of market participants around the country. 15 years on and Betashares has more than 90 ETF’s, $37 billion assets under management and 150 employees. It is the second largest ETF provider in the Aussie market and in 2023 managed to rank number one for inflows with 37 per cent market share. As a 16-year-old Vynokur and his family left the Ukraine as the walls of the former Soviet Union came crumbling down. Alex had no English and had to start from scratch. He caught on quickly and in a few short years was studying Law at UNSW. A brief stint working as a lawyer was followed by a job at finance house Pengana with Malcolm Turnbull and Russell Pillemer. He deduced that not all active managers were able to beat the market. Around the same time, he latched onto the emergence of ETFs. Mortgaging his house and taking time for a fact-finding tour of the US saw him kick off Betashares. In this episode of Success and More Interesting Stuff, Alex discusses his view on the future of both passive and active investment styles, the incredible growth of Betashares and his passion for making an impact on war-stricken Ukraine.

Affordable housing seems to be an elusive goal in Australia. However, Lifestyle Communities (ASX: LIC), which is celebrating its 21st birthday in 2024, might have just cracked the code. The company’s land rent model is spreading across Victoria at an ever-increasing rate. To date, more than 30 villages within driving distance of Melbourne have been built or are in the planning stage. In total, more than 5,700 homeowners have been accommodated with many more to come. Lifestyle Communities started life modestly. At the helm was property veteran James Kelly ably assisted by his partners Bruce Carter and Dael Perlov. The company debuted on the ASX four years later, quietly backdooring into a listed cash box. Over the next 17 years, only the insiders and some unsuspecting investors have enjoyed the stunning 2,500% return. Today the company has a market value of $1.7 billion. Like most successful businesses the original idea was a simple one. Make housing affordable for empty nesters in their late 50s and early 60s. Sell your home and move into a brand-new village nearby. Buy the home and rent the land, having enough capital left over to live a comfortable life. "In Australia, every night, we have 12 million empty bedrooms, which speaks volumes to this empty nester challenge that Australia faces," Kelly says. "We should have a 'last home buyers' grant. We know that first-home buyers' grants typically go into the builder's pocket when the government hands those out when there's a downturn in housing. But a 'last home' buyers grant would actually encourage people to get out of their homes, downsize and free up housing stock for the next generation." Today, Kelly, at 64 years old, is a prime candidate to be a Lifestyle Communities customer. I get the feeling though that he is still happy to keep the accelerator to the floor. I first met James not long after the company listed on the ASX in 2006. He has always been an engaging, upbeat individual, defying the typecast property developer image. In this podcast, he takes investors through the journey, and shares what keeps him inspired after 21 years in the business. Note: This episode was recorded on Wednesday 28 February 2024. Timecodes: 0:00 - Intro 2:33 - From an idea in a cafe to a $1.8 billion company - coming up with the Lifestyle Communities concept 5:36 - The transformation of the retirement industry 7:17 - Early financing struggles and selling the concept 11:28 - The intrinsic desire to be part of a community 13:03 - James Kelly's upbringing, family life and first foray into property 16:03 - The lasting impact and legacy of property investment and development 17:14 - The key to successful property development 19:04 - Experiences that created the leader James Kelly is today 25:52 - The importance of pricing risk as a busy owner 29:22 - The Lifestyle Communities model and its first development 34:09 - Backdoor listing on the ASX 37:18 - Lifestyle's most recent capital raise and plans for the future 40:38 - The transformation of Lifestyle's share register 41:56 - The opportunity in Generation X 45:56 - Why leaders/managers should focus on being kind 47:46 - How to solve Australia's housing crisis 50:32 - Why James Kelly won't be retiring any time soon

Over the last four years, Success and More Interesting Stuff has been privileged to host some of the legends of the Australian equity market. Arguably though no one has had more of an impact on the industry than Kerr Neilson. Originally from South Africa, Neilson landed on Australian shores in 1983 where he joined the ranks of Bankers Trust. BT was on the rise and Neilson stood out among the pack. After just two years, he was placed in charge of the retail business. Under his leadership, it became the growth engine of the firm managing money around the globe. BT’s mercurial handling of the 1987 crash saw Neilson’s retail arm of the company hit its stride, garnering billions of dollars to manage. Stellar performance and a growing reputation as a canny operator saw Neilson build a name for himself. In 1993, Neilson decided to go it alone forming Platinum Asset Management. As one BT operative described on the day of his departure, “the trading room floor at BT felt like it was hosting a funeral.” Counting George Soros’ Quantum Fund among its original investors, Platinum got off to a flying start. Pitching itself as a global investor, the company powered through the next decade reaching $26 billion of funds under management. In 2007, Neilson and his team decided to float Platinum. It was good timing, with the market nearing a peak before the Global Financial Crisis. Neilson ran Platinum for another decade before handing the reins to Andrew Clifford. In 2022, he decided to depart the Platinum board, ready for the next part of his journey. In this episode of Success and More Interesting Stuff, Neilson shares some of the major moments that shaped his career trajectory, some of his biggest wins during this time, as well as why his inventive ancestors taught him the "importance of being in the game - whatever the new game is" - and right now, he believes that is AI. He also addresses some of the major changes that he hopes are on the horizon for Platinum investors - and shares why he still believes he has a responsibility to shareholders even after all this time. Note: This interview was recorded on Thursday 8 February 2024.

In 1987, Olev Rahn was pounding the streets of New York's financial district, meeting with Wall Street's best strategists. Rahn, who was running BT Financial's institutional business Pendal, felt distinctly uneasy about the exuberance gripping financial markets. It felt like a giant bubble, and the deeper he dug, the more convinced he became that a reckoning was just around the corner. Rahn's instincts proved spot on as markets cratered on what has since become known as Black Monday. Combining put options and futures selling saw BT breeze through the '87 crash while others crumbled. From that moment, BT was the main game in town. Billions flowed into the coffers, and it was the number one place to work in Australia. Rhan remained key until BT Australia was sold to the principal group for 2.1 billion in 1999. In this episode of Success and More Interesting Stuff, Rahn discusses the growth of BT Financial in Australia, the key figures that were instrumental in building the firm, and how the firm navigated the 1987 crash. Rahn also shares his views on markets in 2024 and why he is happy to have some cash at hand. Time stamps

Every year, fund manager Eley Griffiths invites stockbrokers from across the country to a lavish dinner. In the cutthroat world of the share market, stockbrokers rarely get treated by their clients. Eley Griffiths, the $1.2 billion small company manager known affectionately as EGG, is a rare breed. The fact that EGG is currently celebrating its 20th year is a testament to the value that everyone contributes to the process of grinding out returns in the volatile small company market. It is a deliberate strategy and reflects the founder's personality. Ben Griffiths is a 30-year-plus veteran of the market. The son of a comedian, Griffiths has always loved an audience, and appreciated their participation in the show, whether it be the speech at the annual dinner, or the day-to-day process of picking stocks. Leaving school, Griffiths found himself on the trading floor of the ASX. He's old enough to remember the 87 stock market crash. From this came many lessons, including a desire to switch to funds management. He found a home as a dealer at Mercantile Mutual and was planted in the middle of a treasure trove in the form of Greg Matthews, David Paradice, Peter Mellett, and John Morgan. He progressed from dealer to analyst, and then portfolio manager. At the turn of the century, he had a brief stint at BT where he worked with Brian Eley, and before long the two had hatched a plan to form EGG and do it their way. Looking back over 20 years, there were some difficult times. The first 12 months were a real grind, and then years later, Eley became seriously ill before passing away in 2018. Through all this EGG has moved forward with Griffiths at the helm. In the 20th year, the group is branching out into the mid-cap fund. No doubt there are plenty more returns, and broker dinners to be had. Time stamps

Graham "Skroo" Turner grew up in splendid isolation. His family owned an orchard in Southeast Queensland, and he rode a pushbike to school, which was so small it only required one teacher. Even when he went to university, he avoided humans and decided to study vet science. Skroo, now seventy-four years old, still sits atop of Flight Centre (ASX:FLT), Australia's largest travel agency, which operates in twenty-four countries. He is the fearless leader of thousands of employees and has a unique management technique that has allowed the company to scale well beyond its humble beginnings. While Flight Centre was officially born in the early 1980s in Australia, its predecessor, Top Deck, kicked off in 1973, dreamt up over a beer with some friends at Oktoberfest in Munich, Germany. The Top Deck story is legendary in Australian corporate history, with Skroo and his clan driving buses out of London to all parts of the globe, including Afghanistan and Morocco. He was back in London a few weeks ago to celebrate the 50th birthday of Top Deck and enjoy a beer with some of the old crew who shared his sense of adventure. Skroo has come a long way in the 50 years and has run into a few potholes and even roadblocks. There was 9-11, The GFC, and of course the COVID-19 virus that induced a near-death experience for Flight Centre. Somehow he has battled through and still seems to enjoy it. In fact, not much has changed. He still looks and sounds like an orchard farmer from Queensland, retaining his laid-back manner that disguises an entrepreneur with a mean competitive streak. In this episode of Success and More Interesting Stuff, Turner talks about growing up on a farm, how he began his career in tourism, his unique approach to management as well as the highs and lows of Flight Centre’s journey. Time stamps

It's been just over a decade since Andrew Alcock took a risk on a small up-and-coming investment platform. The gamble has certainly paid off. Since joining the firm in July 2013, HUB24's (ASX: HUB) share price has skyrocketed around 4200% - turning an ASX-listed microcap into a market-leading 30-bagger. In the early months of 2013, HUB24 was on its knees. The company experienced a boardroom battle, an emergency capital raising, and a lack of leadership. Born out of the stockbroking outfit InvestorFirst, the company was losing millions of dollars a year and its future was doubtful. The boardroom bloodbath saw founder Otto Buttula depart, and Bruce Higgins installed as the new chairman. The company looked externally for a fresh start - and a CEO who could bring new ideas and a large dose of optimism. In a bold decision, they landed on Alcock, an unknown quantity to the listed market. At the time, Alcock was running the AMP-owned planning group Genesys Wealth Advisers. HUB24’s share price in July 2013 was hovering around $1 a share and the company had just posted a loss of $9.7 million with funds under advice of just $479 million. Alcock obviously knew the industry better than most and saw a bright future for HUB24. Fast forward a decade and things have changed. HUB24, along with its close rival Netwealth, have ushered in a new breed of financial platforms, leading the charge against the incumbents – MLC, BT, and ironically, AMP. Today, HUB has over $80 billion in funds under advice and in FY23 it booked a net profit of just under $60 million. The company’s share price trades at around $33 with a market capitalisation of $2.8 billion. Alcock who, as a youngster on Sydney's North Shore dreamed of playing the keyboards in a band, has clocked up 10 years in charge of HUB24 - and he believes the next decade looks even brighter for the investment platform. Along with his right-hand man Jason Entwistle and a burgeoning team, there is a belief that the surge towards the top of the charts will continue. In this episode of Success and More Interesting Stuff, Alcock openly shares his inspirational journey to the top, some of the challenges along the way, as well as some of the exciting initiatives for HUB24 in the future. Note: This interview was recorded on Thursday 23 November 2023. Timecodes

Anton Tagliaferro grew up in Malta, playing football and studying with the dream of someday becoming a doctor. This was pushed aside, however, when political unrest in his native country led him to leave for London, where he ended up studying accounting. Soon after graduating, Anton discovered the world of funds management and was hooked on the idea immediately. Through taking advantage of chance opportunities, Anton was able to migrate into an equities manager role, where he began building a personal brand as a reliable investor. After receiving encouragement from clients, Anton struck out on his own and founded Investors Mutual Limited in 1998. The timing put Tagliaferro and his team at the formation of the tech bubble. "We set up, and the first six months things were going ok. And then the tech boom comes along," he recalled. Bolstered by a background in accounting, and some unorthodox methods of avoiding the pressures of the crowd, Tagliaferro avoided falling into the common pitfalls of Dot-com stocks. "Every single piece of rubbish with technology in the name was running, and all the while every decent company was being sold down," he said. This led to several years Anton described as the most brutal in the business, as indices bloated with overvalued tech stocks, leaving his value portfolio in the dust. He persevered, however, and when the tech bubble eventually burst, his fund's fortunes flipped and would end up drastically outperforming the market overall. This demonstration of high conviction investing, in the face of much criticism, built Tagliaferro and IML a reputation in the market, and their funds under management grew accordingly. Recently, Anton has been able to move into retirement, which he now spends contributing to the development of soccer in Australia. That being said, he still keeps an eye on the markets and hasn't ruled out a return to the industry. "If I was starting a boutique fund manager today, and I might start one next year, I haven't decided yet, I'd focus on international equities," Anton said. "I think the Australian market - the amount of superannuation, the amount of money chasing a handful of stocks... it's such a concentrated index - and if you look at the quality below the top 20, I've gone through it a thousand times, I'm still going through it, and you take out the REITs and resources, there are very few good quality industrials in Australia." In this podcast, Anton shares his origin story, his serendipitous journey into funds management, and the challenges he has faced along the way. He also provides his view on the current market landscape and opens up about his plans for the future. Timecodes:

Nick Scali is a furniture powerhouse. Since listing in May 2004, the store count has grown from 10 to 107 without having to tap shareholders for additional capital. Who knew Australians had such an insatiable appetite for leather lounges? Equally as impressive as store growth are the financial returns investors have enjoyed. Since listing, sales have increased by 1,068%, net profit has increased by 1,407%, and the dividend has increased by 1,263%. From a listing price of $1 to the current share price of $10.79, Nick Scali (ASX:NCK) has been a 10-bagger for shareholders who have stayed the course. The driving force behind this impressive story is Anthony Scali, son of founder Nick, an ambitious Italian immigrant who came to Australia in 1955 at just 18. After a brief stint selling televisions in Melbourne, Nick moved to Sydney and opened his first store in 1962 on the Hume Highway in Ashfield. Anthony Scali worked in the family business from a young age and progressively played a more significant role in the running of the growing retailer. He officially took over the CEO role when the company was listed on the ASX and says he has no plans on stepping aside and has eyes for further expansion into the UK. In this episode of Success and More Interesting Stuff, Anthony talks about the mindset and approach that has created one of Australia’s most iconic retailers. Time codes: 00:00 - Introduction 01:56 - The Nick Scali advertisements 02:47 - Slow and steady growth 04:15 - Why investors are cautious on retailers 05:25 - The start of Nick Scali 08:43 - Nick Scali’s business philosophies 12:16 - How Anthony got started in the furniture business 14:01 - Moving from niche to mainstream offerings 15:31 - Lessons in debt and property 18:32 - Nick Scali (ASX:NCK) lists on the ASX 20:41 - Passing the CEO baton from Nick to Anthony 24:07 - Growing the family business 26:21 - The initial plan for store growth 27:50 - The ingredients for success in retail 35:25 - The Nick Scali niche - quality and value 37:55 - Anthony Scali’s approach to management 40:45 - Anthony Scali sells down some of his shareholding 43:54 - The vision for Nick Scali in Australia and New Zealand 45:49 - Taking the Nick Scali concept to the UK 49:32 - The outlook for the Australian market 50:57 - Antony Scali on succession planning but no plans to retire 53:45 - Property investments still intriguing, even after the 1990s experience

By the time most people reach their mid-forties, they are thinking about an exit strategy for their working life. That was not the case for Robert Kelly AM, who, in 1975, after a series of harrowing business experiences, was dusting himself off and preparing to start all over again. Kelly is the Founder, Managing Director and CEO of Steadfast (ASX: SDF), the ASX-listed insurance broking firm with a market capitalisation of ~$6 billion. Insurance is a harsh industry where the big players compete on price and price alone. Steadfast, under Kelly’s stewardship, has taken a different path choosing to focus on relationships and networks to win the loyalty of their clients. “It is sold on relationships and advice. If you keep selling on price, you’re a commodity, just like a cup of coffee. We have a relationship, and the relationship will win through” - Robert Kelly AM The strategy has proven successful, and Steadfast commands more than one third of Australia’s intermediated insurance market. It appears that the job is not done and at age 76 Kelly recently renewed his contract as Steadfast Managing Director and CEO until 2026. In this episode of Success and More Interesting Stuff, Mathew Kidman explores the highs and lows of Kelly’s business career, including the life-changing advice he received from Rugby League legend Jack Gibson.

The latest episode of Success and More Interesting Stuff introduces one of the most enterprising and successful people on the corporate landscape. Robert Kelly had a chequered career in the 1970s and 80s that included a failed business, driving taxis and dealing with some of Sydney’s more colourful identities. In 1996, aged 48 and running his own insurance broking firm, Kelly decided it was time to put the foot to the floor. He, along with some other like minded insurance brokers, thought forming a buying group to help deliver cheaper insurance rates for its members was a good idea. They called it Steadfast. Most good idea only come to fruition due to tireless endeavour. Kelly criss-crossed the country convincing Insurance brokers they should become a Steadfast member. He was obviously a sharp salesman. From humble beginnings, Steadfast now has over $11 billion of gross written premium from its members and accounts for more than a third of Australia’s intermediated insurance market. The company’s market capitalisation is approximately $6 billion. Kelly is hardly calling it quits though. At the age of 76, the Steadfast board recently extended his tenure as CEO of the group until 2026. That should give him time to take Steadfast into the US market, a stated objective of the organisation. One can only guess how big that arm of the business will become.

We have a treat for you today. Historically the show has focused on outstanding investors and leading executives. Today, we are delving into the other cog of the share market machine - the fourth estate, or as most of us know it, the media. Tony Boyd has been a finance journalist for more than 40 years. The latest 13, he's been writing the preeminent finance column in Australia, Chanticleer. Affectionately known as 'The Chook', the Chanticleer column has held pride of place on the back page of the Australian Financial Review since 1974. The Chook columnists include such luminaries as Robert Gottliebsen, Ivor Ries and Alan Kohler. No one, though, has lasted as long as Boyd. Writing Chanticleer is a monumental task. 1250 words on the issues of the day, every day. It might sound simple enough, but to be cutting edge and relevant all the time takes an extraordinary person. Not only do you need to know the full spectrum of company issues, but you must talk to the key people involved. Conversations with the top echelon of corporate Australia is only reserved for the respected few. Boyd started out as a copy boy at Rubert Murdoch's News Limited. From there, he enjoyed stints in Europe, and Japan, and edited sections on banking and IT. A short secondment to investor relations saw him return to the fourth estate to write Chanticleer in 2010. At the end of March this year, Boyd put down his pen for the last time. Tune in to the latest episode of Success and More Interesting Stuff via the player below or through your preferred podcasting platform. Timestamps 0:00 - Introduction 2:41 - Meeting the demands of a daily business column 7:00 - Early years, education and growing up in Sydney 11:40 - Developing an interest in newspapers and publishing 14:15 - Starting as a copy boy with News Limited 22:22 - A trip to London as a finance correspondent 30:34 - The first time Alan Kohler offered Tony a job 36:06 - A brief career change and the second time Alan Kohler offered Tony a job 39:25 - Tony’s approach to writing opinion and the first time a banker lied to him 42:10 - Rejoining the Australian Financial Review 43:28 - The responsibility of writing Chanticleer 47:05 - The best story Tony covered 49:36 - Interviewing the big names including a run in with Kerry Stokes 54:45 - The role of the Chanticleer column in Australian business 1:01:45 - Closing remarks and the next chapter

It's been 25 years since the first days of Ausbil Investment Management, and Executive Chairman, CIO and Head of Equities Paul Xiradis is still one of the first to arrive at the office. The self-confessed "market animal" lives and breathes investing. But few know the making of X, as he is now universally known. The eldest son of Greek immigrants, Xiradis always knew the value of entrepreneurial spirit - having keenly watched his father run several fish shops growing up. While Xiradis admits these years were "never easy", they instilled in him a desire to one day run a business of his own. "I was an ok student, I wouldn't say I was outstanding. But equally, I didn't have a lot of time to devote to my studies either. I was helping out the family businesses most afternoons and weekends. In fact, all weekends were spent helping the family," Xiradis recalls. "So when I left school, it was an opportunity for me to really excel and work for myself in the sense of achieving my own results." And excel he would. Xiradis, unlike many Australian fund managers today, has truly worked his way up the ranks of the industry. He started out as a bank teller and would go on to gain experience in nearly every facet of finance - including personal banking, investment property, equities, fixed income, and broking. Unsurprisingly, this early education has shaped the investor Xiradis is today. For instance, during the crash of 1987 (Black Monday), when several of Xiradis' colleagues left him "holding the baby", he grasped one of investing's greatest lessons. "I learnt that you really want to be managing the portfolio rather than the portfolio managing you. And what I mean by that is if you are forced to sell, or the liquidity or quality isn't there, it just ends in disaster," he says. "I have never been able to achieve it since, but I outperformed the benchmark on a 12-month basis by over 30% because I was invested in quality [companies] and no penny dreadfuls." This focus on quality, on both top-down and bottom-up analysis, has helped Xiradis and the Ausbil team achieve truly eye-watering returns over the past 25 years (his flagship fund has beat the benchmark by more than 2% since 1997) - and has transformed $10 million of seed funding into a nice $15 billion in funds under management today. In the final episode of SAMIS, you'll learn all about Xiradis' journey from Bankstown to Sydney's Bridge Street, as well as some of his best learnings from a career of consistently beating the market. Time codes 0:00 - Intro 4:19 - Early life 8:06 - Early exposure to business 10:13 - Challenges growing up 12:52 - Unconventional career beginnings 15:50 - Mentors in finance 18:38 - Lessons from the crash of ‘87 24:05 - Striking out independently 30:20 - Early days of Aubil 36:15 - Growing pains of Ausbil 41:32 - Portfolio management lessons 46:17 - Future of Ausbil and Paul

For 25 years, Paul Xiradis has been the CIO and Head of Equities at one of Bridge Street’s most famous money managers - Ausbil Investment Management. Xiradis is the last link to the original foundation group of Ausbil. And as executive chairman, he’ll continue to have plenty on his plate from a leadership perspective when CEO Ross Youngman retires later next year. But Xiradis’ story is far more than his 25 years at Ausbil. It’s a story of migrant triumph, hard work, and persisting on when others have fallen by the wayside. Now, in this final episode of the current series of Success and More Interesting Stuff, the veteran investor shares insights from his life before and during an illustrious career in the markets.

Dawn Kanelleas has always been academically competitive. The daughter of socially progressive Greek immigrants, she knew, even from a young age, that she was destined to break the social norms of the time. And so, she decided academics would be a suitable path, donning a laboratory coat for a degree in the male-dominated world of science and later a research position at Oxford University. Luckily, for many of her investors today, this didn't stick. Backed with a PhD in rare earths, Kanelleas would go on to hold a litany of positions over nearly 15 years before becoming a senior portfolio manager at Colonial First State during the GFC. Today, she heads up First Sentier Investors' small and mid-cap coverage and oversees billions of dollars in the process. But it's her desire to "win" that has truly helped her succeed in the world of finance. Over the past decade, Kanelleas has delivered staggering returns in the small-cap arena, far outperforming the S&P/ASX Small Ordinaries Index. In this episode of SAMIS, you'll learn all about Kanelleas' journey to where she is today, her scientific strategy for success in small caps, as well as the other passions that have shaped the woman she is today. Time codes 0:00 - Introduction 3:34 - Early life 12:35 - Journey into academia 21:50 - Return to Australia 25:25 - Starting in finance 36:45 - Financial lessons 52:00 - Passions outside finance

If I asked you to describe the background of a professional investor, I’m willing to bet you would not have picked someone who has a PhD in chemistry. But that’s exactly who Dawn Kanelleas is. After running through the full gamut of the University of Sydney’s prestigious science program, she pivoted to a career in finance. But it wasn’t smooth or consistent sailing - and one look at her LinkedIn could tell you that. In this edition of Success and More Interesting Stuff, Kanelleas sits down with me to discuss the transition from science and academia to finance and finally her current role - small and mid cap investing at First Sentier Investors.

The Australian commercial property sector was in a mess in the mid-1990s. The industry was stuck in illiquid structures and investors were unable to withdraw their money. Then, budding investment banker Andrew Pridham entered the picture. He believed listing property assets was the best way out of the disaster. It worked. At just 28 years old, he was a managing director and head of global property at UBS in London. Pridham returned to Australia seven years later to set up his own shop. That company was eventually bought by Wall Street behemoth JP Morgan. And being the restless person he is, Pridham pivoted again just as his 30s gave way to his 40s. This time, he convinced a former American UBS colleague Ken Moelis to create Moelis Australia with the two becoming the largest shareholders. Moelis Australia would expand rapidly beyond investment banking to become a mini-Macquarie Bank. Today, it’s worth $818 million and is listed on the ASX. Now retired for good, he joins me on the latest episode of Success and More Interesting Stuff to discuss his life in investment banking and what matters next. Time codes 0:00 - Intro 4:24 - Early life 12:49 - Early career in finance 16:32 - Risk in financial markets at the time 19:07 - Recession and investement banking 22:47 - Coming out of a recession, and into the golden era of property 25:58 - Moving to the international scene 30:34 - Joining the swans, and lessons in leadership 35:18 - Striking out independently 51:13 - Listing on the ASX, and the future of MA Financial 1:01:18 - Values of the Swans 1:09:31 - Outro

Not many investment bankers can claim to have a Wikipedia profile, but Andrew Pridham can. In a career spanning more than 30 years, Pridham has covered everything from M&A at J.P. Morgan to real estate investing at UBS. Since 2009, he’s run his own shop in conjunction with US-based Moelis & Company and since 2013, he has served as chairman of the Sydney Swans. Now, Pridham sits down with me on the latest edition of Success and More Interesting Stuff to discuss his lifetime in financial markets and how joining the board of Swans helped shape the way he leads his investment team.

How’s this for an honours list? Maggie Beer is an icon of the Australian food industry. Her larger-than-life personality and likeability have endeared her to a range of Australians from budding chefs to aged care occupants. Maggie has backed her own skills and played an important role in encouraging people across this country to try their hand in the kitchen. She also can take credit for introducing the verjuice to the Australian kitchen. She also happens to be the only Australian with a self-named public company. Not bad for someone who left school at 14 years old. Now, Beer sits down with me for the latest edition of Success and More Interesting Stuff. We discuss her life before food, those first years operating the (now) world famous Farm Shop in South Australia, and what lies ahead for this Australian treasure. TIME CODES 0:00 - Intro 3:00 - Early life 18:40 - Early career 28:20 - Entrepreneurship in the food industry 38:40 - Transition to the financial world 48:10 - Other passions