Pro Medicus, Kelly Partners, $10k portfolio review & shares vs property debate with Luke Laretive

In this Australian Investors Podcast episode, your hosts Owen Rask and Luke Laretive discuss:

– Why Luke refuses to buy investment property

– Pro Medicus (ASX: PME) and why it's not in Seneca’s portfolio

– Luke’s small cap process and how it delivers outperformance

– How big the Seneca fund can grow and when it might close

Chapters (approximate)

(0:00) Introduction

(02:28) NVIDIA or Pro Medicus?

(07:27) Is Investing with Luke the Top of the Market?

(11:30) How Big Can Your Fund Get Before Soft Closing?

(14:10) Active Vs. Small Caps: 20 Years of Data

(16:15) Thoughts on Kelly Partners

(22:13) City Chic ASX:CCX

(23:36) Property Market or Share Market?

(27:22) Thoughts on Fortescue

(29:34) PlaySide Studios ASX:PLY

(37:20) Our Fake Portfolios Update

(39:15) How to Make the Most Money Possible

(44:57) Luke's Favourite Companies

(47:42) Small Companies Fund

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Topics Covered

– Pro Medicus (ASX: PME) vs NVIDIA: Efficient markets and priced-for-perfection concerns

– The Seneca investment process & portfolio management principles

– Kelly Partners (ASX: KPG) & why Luke avoids debt-fuelled roll-ups

– Fund sizing: when Luke would soft or hard close Seneca

– The long-term edge of small caps & why the cycle still has legs

– Shares vs property: Luke’s strong opinion and logic

~~ Rask Resources ~~

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This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. You should consider if the information is appropriate for your situation before acting on it.

If you’re unsure, consult a licensed financial planner. The Rask Group is NOT a qualified tax accountant, financial adviser, or tax professional. You can access The Rask Group’s Financial Services Guide (FSG) here: https://www.rask.com.au/fsg.

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