Welcome to the latest episode of On the Couch with Marcus Today's Henry Jennings.

This episode, Henry sits down with Nick Griffin – founding partner and CIO of Munro Partners. Nick has been on the couch before, and it's a timely catch-up in what has been an 'interesting' market. Full disclosure: Henry is a shareholder of MAET.

Nick brings over 25 years of financial services experience, including 15 years in funds management at K2 and Munro. US AI and global tech themes are on the agenda – and it's a very interesting conversation.

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Marcus Today – Daily Market Insights

Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.

If you'd like to go further:

Start a free 14-day trial of Marcus Today
http://bit.ly/mt-trial-podcast

Join Marcus Today
Use code MTPODCAST for 10% off
http://bit.ly/mt-join-podcast-offer

MT20 – Managed ETF Portfolio
A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
http://bit.ly/mt20-podcast

Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast

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Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.

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IMPORTANT DISCLAIMER – MUNRO PARTNERS

Performance data mentioned in this podcast is as of 16 April 2026. The figures provided are as at 16 April 2026 and reflect more recent market movements. These differ from the 31 March 2026 quarter-end figures previously reported due to timing and valuation updates. For the most current position, please rely on the 16 April figures. This podcast is for general information purposes only, as it is not investment advice of any nature. The information contained in this podcast reflects, as of the date of publication, the views of Munro Partners and sources believed by Munro Partners to be reliable. There can be no guarantee that any projection, forecast or opinion in these materials will be realised. The views expressed in this podcast may change at any time after the date of issue. This information has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making an investment decision in relation to the Funds, investors should obtain independent advice from a licensed professional adviser. Information about the Munro Funds issued in Australia, including the product disclosure statements (PDS), and target market determination (TMD) for the Munro Funds, is available at www.gsfm.com.au, www.munropartners.com or by calling 1300 133 451. Past performance information in this podcast is given for illustrative purposes only and should not be relied upon as an indication of future performance. None of GSFM Responsible Entity Services, Munro Partners, its related bodies or associates, nor any other person guarantees the repayment of capital or the performance of the Funds or any particular returns from the Funds. No representation or warranty is made concerning the accuracy of any data contained in this podcast. You should consider the PDS and Additional Information to the PDS in its entirety before making a decision to acquire or continue to hold an interest in the Funds. This podcast was recorded on 16 April 2026.

Marcus Today – Daily Market Insights

Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.

If you'd like to go further:

Start a free 14-day trial of Marcus Today
http://bit.ly/mt-trial-podcast

Join Marcus Today
Use code MTPODCAST for 10% off
http://bit.ly/mt-join-podcast-offer

MT20 – Managed ETF Portfolio
A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
http://bit.ly/mt20-podcast

Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast

—

Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.

VIDEO AVAILABLE: https://vimeo.com/1181449274

Chris Stott (1851 Capital) joins Callum Newman to break down the current small-cap landscape – and why the next six months may be more difficult than many expect.

In this discussion, Chris outlines how rising interest rates, geopolitical volatility and shifting investor sentiment are shaping opportunities in Australian equities.

Despite near-term caution, he highlights where value is starting to emerge – particularly in beaten-down sectors and less crowded parts of the market.

Topics covered:

• Why interest rates are still the key driver for markets
• Where opportunities are appearing after recent sell-offs
• How to manage risk and position portfolios in volatile conditions
• The reality of small-cap investing, and why 6/10 decisions are enough
• AI, data centres and where structural growth is actually happening
• Why IPOs are drying up and capital is becoming more concentrated

Chris also shares how he thinks about portfolio construction, cash levels, and identifying companies that can genuinely outperform.

About Chris Stott:

Chris is Co-Founder and Chief Investment Officer at 1851 Capital, with over 20 years' experience in Australian funds management. He was previously CIO at Wilson Asset Management and was named one of the AFR's top young fund managers.

Learn more: https://1851capital.com.au/

—

Marcus Today – Daily Market Insights

Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.

If you'd like to go further:

Start a free 14-day trial of Marcus Today
http://bit.ly/mt-trial-podcast

Join Marcus Today
Use code MTPODCAST for 10% off
http://bit.ly/mt-join-podcast-offer

MT20 – Managed ETF Portfolio
A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
http://bit.ly/mt20-podcast

Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast

—

Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.