Buy Hold Sell, by Livewire Markets

Looking back at 2023, 2024 and 2025, it’s hard not to think: wasn’t it easy to make money? As the table below shows, almost everything went up. With around 95% of asset classes delivering positive returns, avoiding losses wasn’t the challenge - owning enough of the winners was. But periods of easy money don’t last forever. Eventually, the macro backdrop shifts, leadership changes, and returns begin to diverge sharply across assets, as investors saw in years like 2018 and 2022. With that in mind, we invited two market pros - Michael Wayne from Medallion Financial Group and Adam Dawes from Shaw and Partners - to discuss where investors should be positioning, and where trimming exposure may make sense heading into the new year. Note: This episode was recorded on Wednesday, 17 December 2025.

As 2025 winds to a close, it’s only fitting that we take stock of the names that dazzled investors this year, as well as those that landed squarely on the naughty list. Markets delivered no shortage of surprises, with some companies shooting the lights out while others tested even the most patient shareholders. On the “nice” list sit Regis Resources (RRL), Codan (CDA), and Charter Hall (CHC) - three stocks that managed to push through volatility and reward investors handsomely along the way. Meanwhile, the “naughty” list features Bendigo and Adelaide Bank (BEN), WiseTech (WTC), and Bapcor (BAP), each facing its own set of challenges. To make sense of it all, Livewire’s Vishal Teckchandani brings together two trusted voices: Hugh Dive from Atlas Funds Management and Jun Bei Liu of Ten Cap. They break down what went right, what went wrong, and whether any of these names deserve a spot in portfolios heading into 2026. Note: This episode was recorded on Wednesday, 3 December 2025.  

“Crazy.” That’s how Jun Bei Liu of TenCap summed up 2025, a year where big themes surged in waves, sector leadership flipped at lightning speed, and investors had to stay sharp through fresh bursts of volatility. Alongside Atlas’s Hugh Dive, we’re looking back at the year that was: Which stocks delivered, which ones fell short, and which great ideas slipped away before investors could act? And the real question: what now? With 2026 around the corner, how should investors set up for success, and which stock calls stand out as the most compelling shots for the year ahead? From key lessons to bold ideas, our guests unpack what mattered in 2025 and where they see opportunity next. Note: This episode was recorded on Wednesday 3 December 2025.

Well, here we are again, staring down the barrel of the year-end. It’s a time for some fun and frivolity, but amongst the cheer, it’s also the perfect time to cast a discerning eye over our portfolios and make some hard decisions about which companies get a guernsey into 2026. Shedding the duds also means hunting for new opportunities and while piling into the top 10 best performers from this year is always tempting, there are probably some equal, if not better, opportunities to be had in the downtrodden. In what has become a tradition at Livewire, Vishal Teckchandani hosts Hugh Dive from Atlas Funds Management and Jun Bei Liu from Ten Cap, to hunt through the bargain bin on the ASX to see if they can find some beaten-down gems. What will they find? As a bonus, Jun Bei and Hugh each nominate a stock they think is set to get going in 2026. Note: This episode was recorded on Wednesday 3 December 2025.

Investing globally can feel overwhelming, but it also opens the door to powerful structural themes that Australian equities often miss. In this episode of Buy Hold Sell, Nick Markiewicz from Ellerston Capital and Michael Poulsen from Canopy Investors reveal six global small and mid cap stocks positioned in the slipstream of major shifts including AI driven power demand, digital content monetisation, manufacturing reshoring, rising healthcare procedure volumes and the transformation of Japan’s labour market. From data centre power solutions to hazardous waste leadership and fast-growing HR technology platforms, the pair outline high conviction ideas that tap into multi-year growth opportunities. Please note that this episode was recorded 19 November 2025