Chris Brycki

speaker

759 appearances 3 recordings 2 series first heard Mar 2022 last heard 30 Jul

Chris Brycki’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 2 in all, peaking in Jul 2026 with 1.

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The Money Puzzle · Mega floats, market froth, and whether investing in SpaceX risky or smart · 11 Jun 2026 podcast

One of my favorite sort of stock market sayings is, you know, feed the ducks while they're quacking.

And that tends to be what fund managers and asset managers do is they satisfy the demand while it's there, even though it's not the right thing to do.

We have a different approach because we don't actually create these ETFs.

We're a fiduciary trying to work for the best interests of our clients, which is why we're trying to tell them, hey, maybe that's not the most clever idea.

I mean, with this particular fund, it obviously has a good narrative to it that you can get access to things before they list.

The challenge is it doesn't always make them cheap or good value.

And also being in unlisted stuff has its own challenges because of illiquidity.

And if there is truly a downturn, if it's hard to get out of listed stuff, it's going to be incredibly difficult to get out of unlisted stuff.

And the other problem is that this structure is not a ETF structure where it trades at its net tangible assets every day.

It's essentially a listed investment company or a listed investment trust where it's up to buyers and sellers every day to determine the underlying value of those assets they own.

So in a downturn, what you could see is not only those assets falling in value, but people in the share market just wanting to get out of the structure altogether and selling at a 20% or 30% discount even to that.

And it's always been one of these challenges with listed investment companies is they can trade at a big discount even of what the fund manager believes it's worth.

So these aren't the sort of structures we're recommending to clients just because although they can have a lot of excitement, they come with a lot of risk and danger in exiting when you want to.

Well, yeah.

So I'm not, first of all, I'm not the first or not the only person to have these concerns.

I've heard there's been over 500 submissions to the Senate inquiry, which is extraordinary given the time people were given.

And there's still only 11, which is shocking because the- We've made inquiries, Chris.

Yeah, I sent mine three times because it's not getting loaded up and I was checking that they weren't having a tech issue, but I, yeah, I'm still waiting to hear back.

No, they haven't.

So I'm worried that, yeah, mine's been, yeah, binned or shuffled to the side.

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