The Rules of Investing

In this episode of The Rules of Investing, Qiao Ma of Munro Partners explains why curiosity and grit are essential traits for long-term investors. We discuss: 

Why curiosity is central to Munro Partners’ investment process

How following bottlenecks can uncover overlooked investment opportunities

Why large-cap research can help identify tomorrow’s small and mid-cap winners

The challenge of balancing conviction with the possibility of being wrong

Why grit matters when investments do not work out

How Munro uses risk management to avoid letting losers dominate the portfolio

Where Ma is still finding opportunities in AI, power, travel and healthcare

How Howmet Aerospace and Acter emerged from deeper supply-chain research

The one investment Ma would make if markets closed for five years.

Guest from Munro Partners, a corporate authorised representative (CAR 1244894) of Munro Asset Management Limited (ACN 163 522 254) an Australian Financial Service licence holder (AFSL 480509). The information discussed in this podcast is for general information purposes only and is not financial advice. You should obtain independent advice from a licensed professional adviser before making any investment decision. The views held by Munro Partners are current at the time of recording and are subject to change. Past performance information given in this recording is for illustrative purposes only and should not be relied upon as an indication of future performance. The information in this podcast has been prepared without taking account of the objectives, financial situation, or needs of individuals. None of Munro Partners, its related bodies or associates nor any other person guarantees the repayment of capital or the performance of the Funds or any particular returns from the Funds. Information about the Munro funds is available at munropartners.com. Podcast recorded 31 July 2026. 

 

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​Ryder Capital has just clocked up its third consecutive year of 25% plus returns, and has been paying consistent, growing dividends since 2018. ​In this episode Lauren De Zilva explains how Ryder looks for mispriced opportunities and the thesis behind the firm's largest portfolio holding. She also shares two small-cap investments that meet Ryder’s disciplined investment process.

 

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Hedley Widdup from Lion Selection Group joins The Rules of Investing to discuss why the resources cycle may still be in its early stages, the outlook for gold and copper, and where he is finding opportunities among Australian micro-cap miners.

In this episode:

Why the mining cycle may still be early

What the Lion Clock says about the current resources market

Why gold remains attractive beyond the gold price

The risks investors often miss during mine commissioning and ramp-up

Why copper could be entering a new trading range

How to invest when the cycle has turned, but the exact bottom has passed

Medallion Metals, Sunshine Metals and other small-cap resources opportunities

The one stock Widdup would hold if markets closed for five years

Samantha Wong was employee #1 at Blackbird Ventures, the largest shareholder in design software giant Canva and one of Australia’s most influential venture capital firms. When Sam joined Blackbird in 2015, the Australian VC ecosystem was in its infancy - a cottage industry with just a few hundred participants. The landscape has changed dramatically over the past decade as companies like Atlassian, Afterpay, SafetyCulture, and Canva have captured investor attention and created a thriving breeding ground for innovation. In this episode of The Rules of Investing, Sam discusses the rapid evolution of the VC landscape in Australia and New Zealand, why backing the right founders is essential to early-stage investing, and the next generation of companies growing at unprecedented rates.

While the market obsesses over volatile AI software and tech start-ups, global private equity giant EQT says the real money is being made in the physical layer. In this episode of The Rules of Investing, Ken Wong, Partner and Head of Asia Pacific Infrastructure at EQT Partners, breaks down why the massive, structural build-out of data centres and renewable energy grid connectivity is the market’s most misunderstood, and overlooked, growth opportunity.