How advice businesses grow: Owen Rask and Drew Meredith on content, AI and trust

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**Owen Raszkiewicz** (1:26)
Hey there. Here's a quick note. This podcast contains general financial advice only. That means it's not specific to you, your needs, goals, or objectives. So don't act on the information until you've spoken with your financial advisor. You'll find our full disclosure, disclaimer, and link to our financial services guide in the show notes.
How are you doing?

**Drew Meredith** (1:45)
Doing excellent.
A beautiful week in Melbourne. Market's back at all time highs. What's there to be worried about?

**Owen Raszkiewicz** (1:52)
That's it. Nothing at all.
Yeah, the ASX 200, 300, all odds, 150, 20, they're all doing pretty good.

**Drew Meredith** (2:02)
Everything rolling.

**Owen Raszkiewicz** (2:04)
Yeah, they are.

**Drew Meredith** (2:04)
Never been a better time to invest.

**Owen Raszkiewicz** (2:06)
Never been a better time to invest, he says. Actually, I think we said that in 2023 or two.

**Drew Meredith** (2:11)
We still have to claim that every time.

**Owen Raszkiewicz** (2:12)
And we were pretty much right then, so we may be right now.
But no, seriously, it's been a good week, and it's been a good month. Just got the latest results for our Rask portfolios. Decent, like all positive, I think, except the kids' account. Not huge results, but good results. Aussie market pumping. US.,
what do you call it, unhinged? Just like US stock market, not as good in US dollar terms. So what about yourself? You're feeling good? Portfolios ticking over?

**Drew Meredith** (2:41)
Portfolios are ticking over. I mean, the S&P is up 11% in five days after everyone thought it was going to a massive correction. Somehow the, I don't even know, just crept up. The ASX is also at an all-time high. Kind of difficult to understand. I think we both, we've talked about a lot. There was probably one big detractor in portfolios and you see that from time to time. That's why it's worth looking at long-term returns as well.
But even those, the growth technology areas that have detracted in the last six months or so have rallied strongly as the, I guess the financial year came to a close and the concerns about AI started to reduce a little bit as well.

**Owen Raszkiewicz** (3:17)
Yeah. There's been a lot going on.
Everyone who doesn't know much about business has thought, oh my gosh, China has an open-source AI model. Oh no. Then realized that's not how it works. You actually need a computer to run an AI model and they cost money. So we are having a good week. It's a good month. It's been pretty volatile. Something's doing well. Something's not doing well. But today's episode is actually very different. I asked, asked, asked, asked, asked Drew earlier this week if he may be inclined to do a slightly different episode with us today. Ryan's asking us if we want to buy his meme coin.
Talk to us off air.

**SPEAKER_2** (4:06)
Let's take this outside, Ryan.

**Drew Meredith** (4:07)
That one doesn't have to come on the screen there. It's free advertising.

**Owen Raszkiewicz** (4:12)
Yeah. Ryan's got a meme coin, everyone.

**Drew Meredith** (4:15)
It's not Doge.

**Owen Raszkiewicz** (4:16)
Pile in.
If you mean meme coin, you mean SpaceX getting down 15 percent today. Well, that's another meme. But today we're going to talk about some different stuff. Normally, what happens in these 2 Sense episodes here on the Australian Investors Podcast is we do a bit of news of the week, some topic, like a bit more depth, and then the questions that everyone sends in graciously or ungraciously. Today, I wanted to take a moment to talk about Wattle and Rask. So I want to talk about the businesses that live behind Drew and I. And I wanted to kind of pull that curtain back, look behind it, and go...