Latest / The Curve / RTC39: Investing trends for those with a long time horizon (10+ years)

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RTC39: Investing trends for those with a long time horizon (10+ years) · The Curve

• 0:00
  Welcome to the Curve Podcast, a conversation for women who want to learn more about money,
• 0:06
  their money for the future they want to have. We're all busy in the pursuit for financial confidence
• 0:12
  and increasing your wealth should be a simple one. This podcast is for women to learn
• 0:17
  about investing in a non-scary or intimidating way. With short episodes you'll have time to learn,
• 0:23
  digest and understand everything to do with the world of investing.
• 0:28
  So thank you for being here and for listening, because together we really can raise the curve.
• 0:37
  Welcome back.
• 0:38
  Yeah, thank you so much for having me back Steph.
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  Thanks for having me.
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  So we're going to do round two of trends and things.
• 0:44
  Thanks for having the same clothes by the way too, yeah, for coming back.
• 0:47
  We tried.
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  It's not thanks, but now you're a smoke and mirrors.
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  We're trying to make it out like you know it's a new day, it's a fresh outfit.
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  I put a jumper on.
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  Oh shit did you.
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  Oh shit did you.
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  We were going to tell the rest of us.
• 1:01
  Well, I thought that that was the thing.
• 1:04
  No, but it's good to split it up into two conversations because firstly they're quite different,
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  right? Short term and long term trends, but also everyone's attention spans are incredibly short.
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  So everyone's Sophie Horowitz.
• 1:16
  It's a mind.
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  It's a lot of concentration for me to be here and be present.
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  Sometimes I will be talking and she's like, hello.
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  I can see you're glazing over.
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  I can see.
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  It's a lot of information to take it.
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  She disguises all around me.
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  Okay.
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  And she's gone.
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  I'm lost.
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  So long term trends talked me.
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  What are they?
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  How do they work?
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  What's the difference and shorten long?
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  Okay.
• 1:40
  So a lot of the long term trends have been around for a long time.
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  So they're not, you're not probably all of a sudden going to discover a new long term trend.
• 1:49
  Well, so you're going to give us all the answers right now basically.
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  This is how the world will look.
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  Yeah.
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  No.
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  So long term trends are driven by things like culture, demographics, social behaviors, technology, regulation.
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  So all of those things kind of drive the long term.
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  And they're quite good for sort of patient long term investors because they play out over 5, 10, 15 years.
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  And it's not as though a share price is going to jump 600%.
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  Like Palaton, it's just going to be a nice slow, steady sort of progression.
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  But anyone that has a listen to short term trends, Palaton raised, was it 600% or something during lockdown?
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  Yeah.
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  Wild.
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  During 2020.
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  Yeah.
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  And it's so good.
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  And also for anyone that didn't listen to short term trends, Steph is an analyst.
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  Is that the title?
• 2:39
  Yes.
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  An analyst.
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  An analyst.
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  She's an analyst.
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  My sister always said I was an analyst.
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  I was like, lol, haven't heard that one before.
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  Hi, I'm Becca.
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  An analyst.
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  I study Ails.
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  Sorry.
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  Sorry.
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  Sorry.
• 2:58
  Wow.
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  Which one?
• 3:00
  It's going to be another big day.
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  You were almost tired.
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  We were really curious.
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  Thanks.
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  Just in front of a mirror.
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  Oh my god.
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  Okay.
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  You're fucking a little sorry.
• 3:11
  Okay.
• 3:14
  Sorry.
• 3:16
  We've seen that.
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  I think they need a better name, honestly.
• 3:22
  Yeah, I get this shit has all the time.
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  They always laugh when I ride on those airport forms.
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  It's occupation.
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  Analysts.
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  Analysts.
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  Analysts.
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  I'm like, lol.
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  Anyone.
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  Needs a thought of that.
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  So you're a full-time analyst at Milford and we're talking about long-term trends because
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  these are generally the kinds of investments that, if you are investing for a long period
• 3:53
  of time, you probably want to make sure that they're in a long-term trend.
• 3:58
  Exactly.
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  So it's like a structural tailwind, something that's changing in the world and that will
• 4:03
  support company growth for a longer time period.
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  You don't have to pick the right point and then jump out at the right time, like with short-term
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  things where it's about timing the market, structural long-term trends are more about time
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  in the market in the right place.
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  Which is probably better for people like me who aren't going to be trying to time the
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  market.
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  Well, personally.
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  I think if you're looking, if you're investing in your kind of living and breathing
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  at, then short-term trends are good, but for most investors, when we say take a long-term
• 4:35
  view, it's because structural trends, and they take a while to play out.
• 4:39
  Okay, I would love to have some examples.
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  Okay.
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  So the first one is aging demographics.
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  The boomers.
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  Go the boomers.
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  If we have any boomers listening, I love you and that wasn't meant to be a rocket tree.
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  But is that what you're talking about?
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  Like the older generation that have a lot of money or there's a few things.
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  So if we think about, and I've got some stats for you, so up until now, the number of people
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  globally has doubled in the last 50 years.
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  So we've seen huge population growth.
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  But by 2100, which I know is a long way away, but how long is that?
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  2100.
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  80, 78 years.
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  78 years.
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  78 years.
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  Oh, we're all going to be dead.
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  So why would we invest in that trend?
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  Well, when you think about where the world is going, let me explain.
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  Sorry, I'm being really aggressive at it.
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  But it's a good point.
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  You're not going to be wanting to invest in something that's only going to play out in
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  2100.
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  But by 2100, the population is going to start declining.
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  And so the reason this is happening is because fertility rates are falling.
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  So in the 60s, it was five children, was the fertility rate.
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  Now, it's two and a half children.
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  And by 2100, it's 1.9 children, which is not enough to actually replace the population
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  loss.
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  So you were meaning that there was some health problem in that we were all getting less
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  fertile, but you mean we're not having as many children?
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  It's choice.
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  Yeah.
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  Well, it's a bunch of things.
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  I think, you know, women are focused on their careers and wanting to work a bit longer,
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  establish themselves before taking time out.
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  I think younger people generally want to go and experience the world a bit more, like
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  live overseas, travel before they want to come home and settle down and have kids.
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  And also just the cost of children.
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  It's super expensive, you know, buying a house is expensive.
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  Everything related to children is expensive.
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  So that delays it as well.
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  So there's a whole bunch of reasons, but fertility rates are declining.
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  That's so fascinating.
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  So that means we don't need to invest in nature, baby.
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  I take these examples so literally, because that's the only way that my brain works.
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  I think another example within that is as IVF, like people having children older, more
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  complications, therefore there's more need for IVF.
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  And if you're only going to have one child, you're probably going to try using IVF or maybe
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  not.
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  There's one structural trend, but there's obviously like trends are then that as well.
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  And like the nature baby point, that's fair in that there will be for your children,
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  but if you're having for your children, maybe put all your resources into that one child,
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  and so you do buy them the very best and you know, so you want to buy them the nicest
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  marino, onesie or whatever it is.
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  Okay, that's a really good point and it's just another example is to why how you
• 7:43
  bloody you need to guess what people are up to, yeah, it's the whole psychology behind it.
• 7:49
  But that's quite a good one because you can kind of see that happening.
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  Like if you spoke to your grandparents and your grand, you know, your granddad and your grandma
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  and like how many kids they had and their grandparents, you know, you get to train that you can see.
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  You don't need to have the stats really of what it's going to be like in between 100s,
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  but you can kind of see that unfolding and yeah, so it's kind of something you don't
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  have to jump on straight away because it's going to take ages to play out.
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  Yeah, and you can see them on your friend groups as well.
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  Like I think our parents had kids when they were, I don't know, early to mid-20s, whereas now it's
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  very much kind of early to mid-30s, maybe even later. I'll probably be like 40 for today.
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  We're going to be such old moms, eh? Like 50 miles.
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  Okay, so like, pick me up and I'm like, my back hurts.
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  I'm about to hit out.
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  So what kind of companies other than fertility would be impacted in a positive way
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  from a share price standpoint in terms of the aging generation?
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  So the other part to the declining fertility is that at the same time, we're also our life
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  expectancy is increasing. So it's going from kind of 72 years to 76 years.
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  And so there's a lot more old people in the world because there's less, you know,
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  the populations are aging. So I think now there are more grand parents than there are grandkids.
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  And so part of that is healthcare. So there's going to be a bigger burden on healthcare systems.
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  And so pharmaceutical companies are really well placed with this kind of aging demographic.
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  So companies like AstraZeneca, which develops like oncology drugs,
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  they're all kind of going to benefit. Those pharmaceutical companies will benefit from these
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  structural tailwinds. Also, did you know fun fact?
• 9:38
  Well, this sounds like a drug and I'm excited to be like in just Delway or Faye.
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  In Japan, they sell more adult nappies than they do baby nappies.
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  Yes. Because if they've got, they've got such a large age and demographic.
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  They don't want to pick myself.
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  And I know. That's real sad.
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  I know you start nappies and you end in nappies.
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  It's a very Benjamin button, isn't it?
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  Okay, it's not a true name really keen to get amongst. I feel like it's manifesting the fact
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  that I'm going to need the neighborhood barbecue. They're like, what if you invest in an adult nappies?
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  It's not my exciting story. It's nothing sexy about an nappie.
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  What other companies would potentially, like how would I think about that?
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  So that's obviously a structural trend that's something that is happening.
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  When I, now that I know that, what do I do with that information in terms of trying to find
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  investment opportunities?
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  So healthcare is one. Another one is that if we've got a lot more old people, it means that the
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  working age population is smaller. And so companies are going to find it more and more
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  difficult to actually produce the same output with fewer working people. And so then that kind
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  of plays into robotics and AI and automation and all of these things to fix the labor gap.
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  So you could look at robotics companies and other automation companies.
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  It's so wide spread.
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  And it's like one trend. And it's like, okay, how many industries can this impact? And it's just
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  like kind of never ending. Yeah. Yeah, it's almost like an English in exams where there'd be
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  interpretive writing. And you could just honestly, anything would go. Because I feel like you could
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  argue any trend. You could. And there are so many that are tapped into aging demographics and
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  things. So it's really just finding something that resonates with you and that you can understand
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  and that you can get your head around. I think also instead of trying to pick a company,
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  you know, like ETFs and exchange-traded funds are a great way to play these kind of things,
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  like buying a healthcare ETF because of that, buying a robotics ETF, you know, like all those
• 11:52
  things. I feel like I'd be into that. Sounds like spike it or something. Yeah, because sometimes
• 12:00
  when you pick the stocks, they don't, you know, there's other factors going on. So but if you
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  are like, look, I've got this great structural trend. It's going to be long-term. I want to get
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  exposure to it. Okay, I'm going to do it through an ETF. And if you have the time to keep it in there
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  for 10 years, then, you know, it'll play out. But there's, yeah, as VIX said, there's all these
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  short-term things going on in between. So there might be periods where it doesn't do so well,
• 12:24
  but if you're thinking 10 years, then, you know, it's a little bit safer.
• 12:29
  Cool. Okay, amazing. Are there any other main overarching trends that you want to go over?
• 12:37
  What was another one? Climate change. Is that another one? I just made it. I mean, I just made it up.
• 12:44
  Thank you, self-bad. Yeah, yeah, it is. Yeah. No, I think that's a long-term trend. Like,
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  our planet is dying. And we need to do something about it. And it's going to be dying for years
• 12:56
  and years and years, unless we clean up our acts. So I think that's, that there's clean energy ETFs
• 13:02
  and, you know, come and invest in companies that have low carbon emissions and all that, I think,
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  is a huge trend. And younger generations are so passionate about it as well. So it's only going
• 13:12
  to get bigger. Yeah, electric vehicles, all that. There's so many ways to play that.
• 13:17
  I love that one. It's my favourite trend. It's a feel-good one. Yeah, because it's so nice to
• 13:22
  know that you're investing companies that are doing good in the world rather than, you know, I mean,
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  honestly, even if you said to me, if you put $10 into an oil company, you're going to make $100
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  more tomorrow, I just would feel so yucky about it. And that's not, I don't mean it in a judgement
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  where it's just I like the fact that with, with that particular trend, I love the idea that it
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  almost feels like, I don't know, it's like a little way to show that you care and kind of,
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  I don't know, it's activism in a way, you know, it's channeling your money towards something
• 13:52
  that you feel passionate about. And if that's, I also love old people, but for some reason,
• 13:56
  investing in that kind of trend doesn't really float my boat, but how cool to know that there's
• 14:01
  so many different areas that string off all of these main trends. Everyone's bound to find
• 14:07
  their little pocket of what they want to invest in. Another one for aging is like skincare
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  companies. So like Estee Lauder, L'Oreal, Chisato, as we're getting older, you know, people do tend
• 14:19
  to focus more on skincare and trying to anti-age. And then you've also got social media and filters
• 14:26
  and all of these things that have driven kind of people to focus on skincare. So that's another trend
• 14:32
  that we've seen play out. Is there like Botox companies listed? Yeah, I reckon that would be a huge
• 14:38
  trend for an elegant. And then there's like, um, uh, Scanlay's silk blazer or something,
• 14:45
  in Australia, yeah, um, Cosmetic, yeah, Cosmetic surgery and fillers and Botox and everything.
• 14:51
  That was also a short-term trend because everyone was zooming and looking at themselves and thinking,
• 14:56
  oh gosh. And then so it's going away and getting Botox. And teeth, people were fixing their teeth a lot
• 15:01
  because they saw what they looked like on Zoom. Oh really? How do you not realise your teeth?
• 15:07
  Like how does it take a Zoom call? But imagine like doing 10 Zoom meetings a day versus 10
• 15:12
  in-person meetings. You're not going to look at yourself every in-person meeting.
• 15:16
  Whereas Zoom, you're looking, you're like, oh gosh, yeah. All you're going damn.
• 15:21
  The filler one's interesting because that's definitely been a huge trend in the last
• 15:26
  couple of years. Like so many people get their lips done now. I get, with the Botox company that
• 15:31
  you mentioned before, what was it called? elegant. Is that also fillers or just Botox? I actually
• 15:36
  don't know. I haven't looked at it in detail. But I think it's one that's worth looking at.
• 15:40
  Because you see it playing out around you. Yeah, interesting. Imagine if like your dividend was
• 15:48
  free Botox. Oh my god, imagine. You're like, yes, please. I'll buy heaps of shoes.
• 15:54
  It'll be your largest shareholder. Oh my gosh. Imagine if companies did that. The dividend was
• 16:00
  like their product. Yeah, I would invest in Irmese. And Ferrari. And then I'd just sell it.
• 16:08
  No, LVMH. Yeah, invest in LVMH. Yeah. Yeah. Because I've got so many brands. I know.
• 16:13
  You can take your pet. Yeah. I want to do the end of a Tiffany necklace, please. I want
• 16:17
  a dividend of some birth. I want to do that. That would be great. Perfect.
• 16:25
  Okay. Another big thing. Okay. So this one, I experience it personally and
• 16:33
  Vic experiences it personally. You experience it personally. I'm looking at her pets, pets, pets, pets.
• 16:44
  Yeah. They're obsessed with pets. Yes. What do you mean? So we call it pet humanisation,
• 16:54
  which sounds a little bit creepy, but it's really just that pets are increasingly being treated
• 16:58
  as part of the family. What do you mean? She says with her. Honestly, I have never met somebody
• 17:06
  that spends more money on their pet. I don't know how I didn't spot this trend. That's the perfect
• 17:12
  example of the trend. How can you not spot it? She's like, patting it like Dr. Edel.
• 17:19
  Patting it? Sorry, Vic. I do love me so, but honestly, the most well-dogged you'll ever
• 17:24
  meet. Yeah. We love her. So as this trend essentially, the idea that people are buying outfits,
• 17:31
  a million toys, all sorts of gourmet food, etc. Yeah. Well, it's that because we're delaying
• 17:37
  having children, our pets become our children, and we would spend anything on them. I would rather
• 17:44
  have two minute noodles for a year than not be able to give the right surgery or the right medication
• 17:50
  or something for my puppy. So vets? So vets, yes. Oh my god. I like health insurance for vets
• 17:56
  for animals. Yeah, health insurance is one. Yeah. Otherwise, no one has pet insurance.
• 18:01
  What did I call her? Health insurance for pets. Oh my god.
• 18:07
  But you're right on. I'm obviously not a firm mother. Yeah. Do you have pet insurance?
• 18:12
  Yeah. Yeah. It must be a same. It's like $800 a year. And it's like a accountant. No,
• 18:18
  she, like her vaccinations when she when I first got her, which is like, we're pretty much
• 18:24
  that or more. So it pays, pays itself. And it's peace of mind. Like if anything, Helen,
• 18:29
  do you know that Misa is going to be well looked after? Yeah. But I am. Does it have a training?
• 18:35
  Fuck off. No, I'm kidding. What do you mean? She's very well. We had our investing plan as
• 18:44
  arrived today in the like giant truck and bless his heart. The man who drove them here helped me
• 18:50
  unload all of them because it was not home to help me. And Misa, because I was like, she's going to
• 18:55
  run on the road if I have her, you know, if the door's open, she's just like, she'll run away.
• 18:59
  So I put her in the bathroom and for no joke, about 50 minutes, she was like, I was like, oh my god,
• 19:06
  Misa, please just shut up, you know, like an actual child. Yeah, like she was like, I was like,
• 19:11
  okay, I know my heart cute. So this trend, what kind of company, so other than the, you know,
• 19:19
  insurance is basically just thinking about what people who own pets would spend their money on.
• 19:25
  Yes. And then Googling, are you listed blah, blah, blah. And there's so many of them,
• 19:31
  sorry, pit food, pit retailers, yeah, pit pharmaceuticals, there's pit diagnostics. So like,
• 19:41
  the machines that vet's used to diagnose animals. Pretty much, yeah, because that would bear
• 19:48
  that. Yeah. Like there are raw diets for pets, like there's, there's all sorts of things for pets.
• 19:53
  There's anti-anxiety pills for pets, which Misa definitely needs. Also, I've got a friend,
• 20:00
  who brushes, her dogs, teeth every morning. Wow. I mean, I don't think anyone's that excited,
• 20:06
  but yeah, I think a lot of people are though. People take it so seriously. Okay, that's a really
• 20:13
  good trend. And you can see it, like playing out with your friends and stuff. So, and that's a,
• 20:18
  that's a short term trend because during COVID, there was like a huge spike in people getting pets
• 20:23
  because they were obviously at home and they could train them and look after them. It's interesting,
• 20:27
  because you want me to lock down. And I got my puppies locked down. I'm just a train. I'm
• 20:32
  one big train, okay. But you're talking about the pets being, you know, trained because they're
• 20:36
  home. I'm just kidding. I'm kidding. But yeah, so that's kind of a short term trend that goes
• 20:45
  to a long term trend, because now everybody's got all these pets and they're not going to give them
• 20:48
  back. Now they've got to spend money on them. They've got a 15 year investment. Yeah. Okay, back
• 20:53
  on track. So, train, train, trains, trains. Next trend, Steph, what else do I want to cover?
• 21:00
  Nick, last trend that I want to cover is digitalisation and the exponential growth in data.
• 21:08
  Because if you think about how much we use our phones, like all of that is producing data. And
• 21:13
  then you think about companies and how much data they have, you think about, I don't know, smart cars,
• 21:18
  smart speakers, manufacturing, creating data. And apparently 90% of data in the world was just
• 21:29
  created in the last two years. So if you think of what it's going to be like in 10 years,
• 21:34
  that's a huge amount of data out there. Okay, so the first thing that came to my mind is crypto
• 21:41
  for some reason, because it's like data storing, etc. Does this at all link into this trend?
• 21:49
  Probably. Digital currency, digitalisation. Yeah, probably does. I'm definitely not an expert on
• 21:55
  crypto though. Okay, well, we came away from that. More like, get like cloud, like data centers,
• 22:03
  cloud computing, housing, all that. And then also electronics, yeah, like all that kind of thing.
• 22:10
  What, sorry, semi-conductors. It's just a computer chip. Yeah, there's just a fancy word for
• 22:16
  a computer chip, really. And it's using everything like cars, phones, fridges, machinery,
• 22:22
  like everything, yeah. What kind of companies fall under this bracket? So there's heaps,
• 22:28
  there'll be Facebook and stuff. Yeah, Facebook would be one because they collect so much data. And
• 22:34
  then they have advertisers use that data to target advertising. So like LinkedIn, Instagram,
• 22:42
  Facebook, all of the main platforms, TikTok even probably. And it's on Microsoft. All of those
• 22:48
  big tech companies plan to this thing. But semi-conductors, they're probably names that you wouldn't
• 22:53
  have heard of. But for example, TSMC, which is... Is that the ticker? Yes, it's called Taiwan
• 23:01
  semi-conductor manufacturer company. And they don't design the chips, but they manufacture them.
• 23:07
  And they manufacture 55% of the world's computer chips. So they're super dominant.
• 23:13
  Sorry, I was just saying it was on the, on the sign, the ticker. Sorry. Sorry, I thought I saw it.
• 23:22
  That probably would be. It is bro, we've got the ticker bro. What is that one?
• 23:26
  I don't know. Or is it K bro? I don't know a lot of them. Yeah. Are they real tickers?
• 23:33
  There's fat. Oh no, things like that. Oh my god, imagine if we've got a giant sign that is fake
• 23:38
  tickers. I'm trying to. Oh, pull this one. Work.
• 23:41
  Ulta? What's a beauty? Well, it's another language, the fact that you're looking at it. You're like,
• 23:45
  oh yeah. By the way, Faber, enlisting who has no idea what we're talking about, but I can
• 23:49
  I have had these very chic signs made. And one of them has tickers all over them.
• 23:54
  And I thought that the TSMC might be in. Yes. Yeah. There's ASML as well. Yeah.
• 24:01
  Isn't it? Yeah. Yes and I'll, did we talk about that already?
• 24:04
  That's semiconductor. It makes the equipment that makes semiconductors.
• 24:09
  So TSMC buys equipment from ASML. And then TSMC makes the chip.
• 24:14
  I'll stop talking. So I've got way too many acronyms.
• 24:19
  I forgot what Semiconductor's even are. Just a computer chip.
• 24:22
  Yeah. Just computer chip. Real basic. Just anything electronic needs the Semiconductor.
• 24:26
  Pretty much. Okay. Are there any other examples of this? Because otherwise I want to move on.
• 24:32
  I don't like this one. I don't like this change. What's a more fun one?
• 24:36
  Is it phones even? Like, is it Apple? Is it your devices that you then use digitally?
• 24:40
  Is it like your wallet or any paint-packed. Yeah. Pretty much all of those tap under it.
• 24:47
  Anything online, anything. Anything.
• 24:49
  Or the Uber, like all of these things. Yeah. All of that. Anything digital.
• 24:53
  Food delivery. Like Uber Eats. Uber.
• 24:56
  Don't be hungry. Even a thought of Uber.
• 24:59
  Very, very, very, very, very. So okay. So there's heaps in that one. Heaps in that one.
• 25:06
  Yeah. And you can just Google it and there'll be a huge list of companies exposed to that.
• 25:12
  Cybersecurity. That's a good one. That's a good one.
• 25:15
  If I say so myself. What cybersecurity?
• 25:19
  Like protecting, like, so you don't get viruses and stuff.
• 25:23
  And because there's going to be so much data in the world and hackers are now professional.
• 25:30
  They're not just people sitting in the basement.
• 25:33
  As in, it's like their profession.
• 25:34
  And their profession. Yeah.
• 25:35
  There's like professional criminal hackers that's been millions hacking.
• 25:40
  And so if companies and people don't have the right cybersecurity,
• 25:43
  then all your data could get stolen. Hold on.
• 25:46
  When you say they spend millions, do you mean they're paid millions to do it?
• 25:52
  Or like they're spending millions to try and get into people's systems?
• 25:55
  Probably both. Like there'd be big firms that would employ professional hackers to be like
• 26:00
  trying to get into our system to see if it's legit, to see if it.
• 26:02
  Oh, yeah. And sometimes, sometimes even states sponsored.
• 26:06
  So like there was a lot of concern about Russian hackers when all of the stuff was going on.
• 26:13
  But I've read that they have multi-million dollar budgets funding their attacks.
• 26:17
  So so Russia could be like go and hack the United States will pay you millions and billions
• 26:23
  to go and try and get into the secret service or whatever.
• 26:26
  Yeah. Or they'll just fund all their computers or like the highest tech equipment.
• 26:31
  And so if you don't have protection for all your data, then you're at risk.
• 26:36
  Yeah. So the more and more going online and data usage, the more and more protection we need.
• 26:42
  Whoa, wild.
• 26:44
  And there's ETFs, there's cyber security ETFs and the ticker is hack.
• 26:49
  I'm getting that one. I love that.
• 26:51
  I'm coming for you. Where can you get that? Do you know?
• 26:55
  Sorry, I use you as my insight. Oh, yeah. I'll Google it.
• 26:58
  Thanks. Are there any other cyber security? Would there be like a tech-focused ETF or a tech-focused
• 27:06
  lot? There's lots and lots. And there'd be some ones. So there's like a semi-conductor one or
• 27:10
  there's a cyber security one or there's a software one. You know, you can go to any part of tech
• 27:15
  and there'll be an ETF for it really. We would be a good place to get, is there like a way that
• 27:20
  you can search all of the tech ETFs? So how would I do that? Google? Yeah, I think just Google it.
• 27:26
  And there'll be websites that have all of that on there. That's a great idea for our website.
• 27:30
  We should have like best tech users. Yeah. You should have that stuff up there. Yeah. You.
• 27:36
  Me. Probably my job. I'll go do that later. Is there anything else for in terms of long-term trends
• 27:41
  that you would like to add to this discussion? There's like the rising wealth of China in the middle
• 27:47
  class. There's like health and wellness because obviously people are living longer. They're more focused
• 27:52
  on staying active in their older years and even COVID. All of us realising actually I, you know,
• 27:59
  my health is really important. So many. So many. No wonder you need direction to be like, okay,
• 28:07
  and you are investing solely in this particular industry. I can get quite overwhelming. There's a lot
• 28:13
  to a lot to look at. Can I ask you how many how many holdings would you have,
• 28:19
  personally, as in how many companies would you have a share in? So I'm not allowed to invest
• 28:25
  personally. I'm only allowed to put my money into Milford. But if you look at like a Milford fund,
• 28:31
  we've got one fund that has 50 stocks and then we've got one fund that has 25. But then if you
• 28:36
  think we've got a team of six people kind of looking at that. So. So for a personal investor,
• 28:42
  like say for me, what would you say would be the amount of holdings that I could probably manage
• 28:48
  myself? Maybe team? If you want to keep the good handle on what's going on with those. I think
• 28:55
  this can be our next episode, Vic. I'm going to share with you what's in my portfolio currently,
• 28:59
  and you can rip it apart. Yay. Because I think actually this is now as the first time that I've
• 29:05
  actually got to a stage where I'm like starting to invest and feel like I understand why. But I'm still
• 29:12
  hearing you talk about all of these different trends and themes. I'm like, holy shit, I am not
• 29:16
  diversified. You know, like just hearing all of this. I've got nothing in tech. I've got nothing
• 29:22
  in like any aging demo, you know, like it's making me think, okay, I probably need to look at all
• 29:27
  of these trends, write them down and then have a little piece of the pie in different places.
• 29:33
  Yeah. Go, go, go, go, go. Thank you so much, Steve, for like, I know that you've prepared a lot
• 29:41
  on like spend time researching to share with us today. So thank you so, so much. Thank you for having
• 29:46
  and I'm really excited to get you back on the podcast and 2100 and see all these trends that have
• 29:52
  played out. You'll be, how would you be? Oh my god, shit, imagine if we do make it to 130.
• 29:57
  We might with the way technology, you know, my gosh, we might still be alive.
• 30:01
  All of those hocks is thriving. We're going to have to move our faces. We're going to look
• 30:05
  exactly the same, have millions of pets and have one point nine children. Yeah. And probably have
• 30:11
  a put our back out and our hip out, but hey, you know, we'll look good. But because we've invested
• 30:15
  in healthcare, we'll have all of the things that we need. And we'll be really wealthy because we
• 30:19
  would have invested really well on all these trends. Yeah. So we're doing this from like Monaco or
• 30:24
  something. Yeah. Sure. We'll be, we'll have a super yacht. Yeah. We'll be, we'll be broadcasting
• 30:28
  live from the Mediterranean. Can't wait. All right. Time to get there. So it's me. So it's time for dinner.
• 30:34
  Thank you so much. Thanks. Thank you. Thank you so much for joining us for today's
• 30:40
  episode of Raising the Curve. Please subscribe and leave a review on what ever platform you're listening
• 30:45
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• 30:50
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• 30:56
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