A bit of a different approach at Marcus Today; Callum Newman sits down with Gary Norden, a 35+ year pro trader (LIFFE floor, bank derivatives desks, hedge funds) and the author of An End to the Bull - to talk how the pros actually trade when it’s their own money on the line.

In this conversation, Gary explains how professional traders really approach markets; building an edge through knowledge, skill and risk management - and why much of the “sell-side research” investors read is often just a sales tool dressed up as insight.

We cover:

• The professional trader’s edge – skills, knowledge, and risk management
• Why bank research gets “taken with a pinch of salt”
• Day trading vs punting – order flow trading as a real craft
• Can humans still compete with algorithms/HFT?
• ETFs, concentration risk, and the “all in / all out” market
• Options – why Gary prefers buying options (hedging + asymmetric upside)
• Gold and silver – why the bull case may not be done yet
• China, commodities, and what Gary sees on the ground

Standout moments (timestamps):

• 03:58 Why traders ignore sell-side research
• 06:12 Day trading as a professional skill (order flow)
• 11:56 AI, ETFs, and the concentration problem
• 19:35 Options as portfolio “insurance”
• 26:47 Gold vs silver, miners, and what to watch
• 48:25 The red jacket story (and what it meant on the floor)

Gary’s book: An End to the Bull: Cut Through the Noise to Develop a Sustainable Trading Career (John Wiley & Sons).

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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.

Welcome to another episode of On the Couch, the podcast series where we chat with brokers, CEOs, and fund managers to bring you valuable insights from the investing world.

In this quickie episode, Henry Jennings is joined by his good friend Andrew Wielandt – also known as The ETF Whisperer.

Andrew shares his ETF picks for the year ahead… and not a QUAL in sight.

Chapter Markers

• 0:00 – Welcome And General Advice Reminder
• 2:03 – 2026 Outlook: Volatility And Passive Risks
• 5:20 – US Politics, Dollar Views And Silver Shock
• 7:10 – Theme 1: Diversifying Away From US With VEU
• 9:10 – Hedging The Currency And Core Adjustments
• 12:00 – Theme 2: Japan Exposure With IJP
• 15:00 – Theme 3: Long Short LICs And LITs Toolkit
• 22:30 – Why Long Short Now And Portfolio Weights
• 25:00 – Theme 4: Aussie Small Caps With Firetrail
• 28:00 – Theme 5: Resources Via Tribeca TGF Or VanEck MVR

—

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.

Welcome to another episode of On the Couch.

In this episode, Henry Jennings catches up with Scott Kirkland from EMVision Medical Devices (ASX: EMV).

Scott is the co-founder of EMVision Medical Devices Ltd and has held several senior sales roles, including Head of Client Sales at US-based technology company Quantcast, before founding Kirkland Capital to focus on emerging technologies.

At EMVision, Scott oversees corporate affairs, commercial strategy, and business development, while also managing the company's capital requirements – including non-dilutive financing and grant opportunities. He is a member of the Australian Institute of Company Directors.

Many listeners will be familiar with the EMVision story, but in this episode, Scott brings us up to date on the company's mission and progress – as it continues to develop breakthrough medical devices for stroke diagnosis in both first responder and hospital settings.

Chapter Markers

• 0:00 – Welcome, Disclaimers And Personal Stories
• 2:23 – EMVision's Mission And Devices
• 4:15 – First Responder Helmet And ECG Analogy
• 6:03 – The Golden Hour And Treatment Windows
• 8:12 – Trials, Sites And FDA De Novo Plan
• 10:15 – Grants, Regional Impact And Reimbursement
• 12:02 – AI In Stroke Care And Workflow Gains
• 14:05 – Cash Runway, Partners And Milestones
• 16:06 – Go-To-Market Focus And Stroke Belt
• 17:45 – Risks, Focus And Business Model
• 19:00 – Closing Thanks And Next Steps

—

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.