Which Aussie software stocks are ready to rebound with Jared Pohl
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What are the implications of the software sell-off for investors?
Everything you're about to hear is for education and entertainment purposes only. Whilst we are licensed, we're not aware of your personal financial circumstances.
How has the AI boom affected growth investors' perspectives?
Any advice is general advice.
What factors are driving the depth of the software sell-off?
Equitymates operates under Australian financial services license 540697.
The software sell-off continues and there are plenty of questions to ask.
Why is software not considered the primary moat for companies?
Have the quality of these companies changed or is it just a market overreaction? Welcome to Equity Mates, a podcast where we explore what's possible in the world of investing. If you've just joined us for the very first time, a huge welcome to our community.
Which software companies are most vulnerable in today's market?
My name is Bryce, and as always, I'm joined by my equity buddy, Ren. How are you going?
I'm very good, Bryce. Very excited for this episode. One of the biggest questions in markets in 2026 is what is happening...
Is the reset in valuations a warning sign or a buying opportunity?
With this continued AI boom and the software sell-off that has come on the back of it, as you said, have these high-quality names changed, or is the market overreacting? Today, we're joined by an expert. He and his team have just written a big three-part report on software companies, so we're going to dig into it and get his answer. You may have just heard him there. Jared Pohl, co-founder and portfolio manager of ECP Asset Management.
How can AI-driven productivity lead to future growth for software companies?
Welcome back to EquityMates. Thanks for having me again. It seems like every time I come, performance gets worse. So I don't know if it's the... Definitely not. That's the EquityMates effect, yeah. But no, no, jokes aside. Yeah, it's definitely been a tough, tough market. So, you know... Hopefully we can sort of explain what we're thinking and people can, you know, start buying software stocks again. We need the retail community to give us a hand, I think.
Yeah, I appreciate that. I appreciate, you know, you being forward with sort of where the performance is at and talking about it. Like often people come in and they're just cheerleaders. So this would be a good conversation, I think, to sort of get your view on.
Yeah, no, I mean. Honestly, you've just got to own it. You've got to own the wins and the losses, right? It's not fair either way. And I think that's the irony of markets is they're very much, your truths get tested a lot, you know, and you need to be willing to sort of change your view. I mean, we haven't yet changed the view. I don't think we panic sold anything, particularly in the sell-off, but we've spent a lot of time thinking about what's actually changed and where things go, but it hasn't made it any easier, you know. That's for sure.
Well, that's where we wanted to start. Since you came on the show last, and not just necessarily related to software, but just generally, what is one thing that you've changed your view on?
Has our fundamental philosophy changed? I think we were sort of talking before this started on... this core idea, but we fundamentally believe in growth as a way to invest. And that leads you to certain kind of areas of the market, companies that are growing their economic footprint, software tends to be pretty scalable. So that's why we've ended up there a lot of the time. Is that changing? And it's like a real existential crisis for, as a fund manager or an investor, you have these sort of core ideas about what makes a good investment. And we fundamentally believe that earnings will drive that. And then it comes down to, well, you know, in the software space as AI change that whole thing or not. So you've got to go and test that consistently.
And, you know, we've done that. We haven't had any sort of major changes to answer your question directly. Nothing yet. Like there hasn't been enough evidence to suggest that that kind of core premise of investment is broken. has volatility increased? Yes. Is momentum increased? Yes. What does that mean for us? Like, okay, there's going to be more volatility in returns, but you'd expect that with someone like us, which has a very high tracking error. So, you know, we're not doing anything different, but it does mean there's a little bit more hang on to the seat of your pants.
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Chapters
8 chapters
1
What are the implications of the software sell-off for investors?
0:00–0:08
2
How has the AI boom affected growth investors' perspectives?
0:08–0:10
3
What factors are driving the depth of the software sell-off?
0:10–0:19
4
Why is software not considered the primary moat for companies?
0:19–0:33
5
Which software companies are most vulnerable in today's market?
0:33–0:43
6
Is the reset in valuations a warning sign or a buying opportunity?
0:43–1:11
7
How can AI-driven productivity lead to future growth for software companies?
1:11–10:05
8
Which Australian software stocks are poised for a rebound?
10:05–38:38
Speakers
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