Winter might be over, but in markets, the clouds can roll in at any time. And when they do, only the sure-footed survive. With the Melbourne Spring Racing Carnival in full swing, we’re once again taking inspiration from the track - this time, looking for the “wet-track wonders” of the ASX. These are the companies that can handle tougher terrain, those with strong balance sheets, reliable earnings, and management teams that know how to keep moving forward when the ground gets heavy. In this episode of Buy Hold Sell, Livewire’s Chris Conway is joined by Marcus Ryan from Yarra Capital Management and Nick Pashias from Antares Equities. Together, they’ll explore what defines true resilience in the sharemarket and where investors might find the best footing if conditions deteriorate. Before they dive into the stocks, Chris asks Nick what traits he looks for in businesses that can weather the storm - from fiscal discipline and predictable cash flows to that all-important pricing power. Marcus then weighs in on which sectors tend to thrive when the economic going gets tough. As well as analysing three ASX names, for good measure, the guests each share a stock in their portfolio that they might look at differently if conditions head south. Please note this episode was filmed on 22 October 2025.

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“What did the council decide on item 42?” — answered with the speaker and the moment.

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