QAV Investing Podcast (Free Edition)

Australian consumer confidence hits a 53-year low, the US Treasury's own balance sheet revealing effective insolvency (liabilities nearly eight times assets), and the Iran war closing the Strait of Hormuz and sending aluminum prices surging 6%. A listener question from Darryl about buyback scoring. Tony delivers the episode's Pulled Pork on **Brookside Energy (BRK)**, an ASX-listed, Oklahoma-based shale oil producer drilling in the Anadarko Basin. After hours covers Tony's ChatGPT-powered horse racing scraper breakthrough, Cameron's Nick Cave obsession, Apple TV's *Friends & Neighbors*, and a recommendation for Seth Rogen's time-travel comedy *Future Man*.

In episode 912 of QAV Australia (recorded 24 March 2026), Cameron and Tony open with geopolitical commentary on the Iran-US-Israel conflict and its impact on oil prices, before reassuring panicked listeners that market chaos is cyclical and the QAV rules — including the three-point trend line and Rule One sell signals — are designed exactly for moments like these. Tony delivers a deep-dive Pulled Pork on Karoon Energy (KAR), the upstream oil producer. Other stocks touched on include Viva Energy, Santos, Central Petroleum, Pepper Money (CGF's revised lowball takeover offer), Harmony (HMY hitting a Rule One sell), and the messy Humm/Credit Corp takeover situation involving the Takeovers Panel. After hours, Tony recommends juggling comedian Michael Rayner ("The Broken Juggler") and the political memoir *All's Fair*, while Cameron raves about Jackie Chan's *Police Story*, David Lynch's obscure 1993 HBO miniseries *Hotel Room*, and the 1944 film *Gaslight*.

In this episode of QAV, Cameron Reilly and Tony Kyneston navigate a world of "prolonged conflict" and "supply disruptions," examining the ripple effects of Middle East tensions on global oil, fertilizer, and food security. They dive deep into Australia's precarious fuel security, noting the country holds significantly less than the internationally mandated 90-day buffer. The investment discussion focuses on the "Pulled Pork" of the week, **BSP Financial Group (BFL)**, the largest bank in Papua New Guinea and the South Pacific, which Tony argues is unfairly valued as a high-risk "frontier" stock despite its dominant market share and high return on equity. The duo also discusses the RBA's interest rate dilemma, the "Wild West" of Gen Z using unregulated AI for financial advice, and the 2018 MIT experiment proving quantum entanglement.

In this episode of QAV, recorded on March 10, 2026, Cameron and Tony navigate a week of absolute market chaos triggered by escalating tensions in the Middle East and the resulting volatility in energy prices. The duo pays tribute to the legendary Brisbane entertainer Jamie Dunn (the man behind Agro) before diving into the "ready, fire, aim" nature of the current market, where a single Trump tweet can swing oil prices by 30% in a matter of hours. In the Club episode, Tony provides a comprehensive deep dive into Viva Energy (VEA), examining its shift from Coles Express to the "On the Run" (OTR) branding, the challenges of domestic refining, and the impact of illegal tobacco sales on convenience margins. They also touch on the "death of software" era, Cameron’s success in coding a new commodity checker using AI, and why having a mechanical investing system is the only way to stay sane when the world feels like it's in a "black and white" prize fight.

In this episode of QAV Australia, Cameron and Tony navigate the sudden market volatility triggered by the outbreak of conflict between the US, Israel, and Iran. The duo explores the "biggest threat in 50 years" to global oil supplies, specifically the disruption of the Strait of Hormuz and its inevitable impact on energy prices and shipping. Amidst the global tension, they find silver linings in a massive 45% takeover jump for dental manufacturer SDI Limited and a scheme implementation deed for Cue Energy Resources by Horizon Oil. The episode also features a deep dive into the "material uncertainty" surrounding retail company Cettire, a five-year milestone review from a dedicated member, and a "Pulled Pork" analysis of Central Petroleum (CTP).

In this episode of QAV Australia, Cameron and Tony dive into the February reporting season. They provide an update on the QAV portfolios, take a dive into Parenti (PRN) and its recent price drop, as well as a comprehensive "Pulled Pork" analysis of Challenger (CGF) amidst potential Japanese takeover interest and regulatory changes. Between technical chats about wheat commodity sell lines and the "monstrous" growth of passive investing, the hosts find time for Michael Caine impressions, and a look at the latest global geopolitical and AI-driven absurdities.

In this episode, recorded on February 17, 2026, Tony and Cameron reflect on the legacy of actor Robert Duvall before diving into a deep critique of "gas giant" stocks and the lack of visible depreciation on the income statements of US tech titans. The pair discuss the current "josephine" state of the market, where high-quality stocks are coming off their highs, leading to a barren buy list and several trendline sells including Rice Growers (SGLLV), Plenty Group (PLT), and Myer (MYR). The episode features a detailed analysis of the Aeris Resources (AIS) acquisition of Peel Mining, a deep dive into ANZ’s recent performance boost under its "ANZ 2030" strategy, and a "Pulled Pork" segment on the Global Value Fund (GVF), where Tony explores the influence of investing legends Chris Cuffe and Miles Staude.

In this episode of QAV Australia, Cameron and Tony navigate a particularly turbulent period for the ASX, noting a buy list that recently shrank to just three stocks amidst a broader market correction. The duo discusses the fallout for software companies like **Reckon (RKN)** and **Xero (XRO)** as the "AI penny drops," the impact of the RBA’s unexpected rate hike, and the dramatic 24% jump for **Pepper Money (PPM)** following a takeover bid from Challenger. The episode features a deep dive into **Atlas Pearls (ATP)**, examining the unique (and labor-intensive) world of Indonesian pearl farming, before wrapping up with a "gritty" after-hours segment covering everything from *Game of Thrones* prequels to Baz Luhrmann’s new Elvis documentary.

In this episode, Cameron and Tony navigate a complex week of market shifts, political manoeuvres, and a "Sell America" sentiment that continues to gain traction. The duo celebrates the massive success of **Duratec (DUR)**, which has tripled in value, and cover announcements from a range of buy list stocks. Tony provides a deep-dive "Pulled Pork" analysis of **CTI Logistics (CLX)**, highlighting its strong WA-based assets and unique property management strategy. The conversation also touches on the "disintermediation" of banks via Coinbase, the drama surrounding **HUMM Group’s** takeover panel objections, and a look at the potential economic impact of AI on wages.

In this episode of QAV Australia, Cameron and Tony brave the Australian heat to discuss a mix of music history and high-stakes value investing. The duo pays tribute to the late Midnight Oil drummer Rob Hirst, reflecting on his iconic sound and the band's cultural impact. Turning to the markets, they analyze the record-breaking success of hedge fund manager Chris Hohn, whose old-school value approach netted $28 billion in a single year. The episode features a deep dive into the complex takeover saga surrounding Humm Group (HUM), weighing the company's strong commercial leasing profits against its controversial buy-now-pay-later (BNPL) pivot and ongoing governance battles involving founder Andrew Abercrombie and Credit Corp. Finally, they wrap up with portfolio updates showing significant outperformance in both Australian and US dummy portfolios.

In this episode, Cameron and Tony dive into the complex geopolitical and economic landscape of early 2026, examining China’s record trade surplus and the stalling impact of US tariffs on manufacturing. They explore how the AI boom has acted as a primary driver for US growth, potentially masking the drag created by trade restrictions. Closer to home, the duo discusses Australia’s manufacturing dependencies and the rising influx of Chinese EVs and renewable energy assets. The heart of the episode features deep dives into listener-driven data, comparing the QAV process against "buy and hold" strategies, and the Club edition contains a "Pulled Pork" analysis of **Stanmore Resources (SMR)**. From managing red flags in stocks like **Fleetwood (FWD)** to the nuances of superannuation-approved ASX 300 lists, this episode balances high-level macro theory with the practical, rules-based discipline of value investing.

In this wide-ranging QAV Australia episode, Cameron and Tony move from bushfires devastating Victorian horse studs into geopolitics, central bank independence, and the increasingly overt political pressure being applied to the US Federal Reserve. From Kevin Rudd’s exit as ambassador and Trump’s campaign against Jerome Powell, the conversation pivots into market consequences, portfolio performance, and a remarkable year for QAV Light portfolios, which have dramatically outperformed the index. The second half dives deep into practical investing questions from listeners, covering portfolio construction, gearing, drawdowns, and franking credits, before closing with a detailed “pulled pork” analysis of Kip McGrath Education. Along the way, they explore competition dynamics in retail, the limits of diversification, and why growth has quietly dominated returns over the past year.

The first QAV episode of 2026 opens with a wide-ranging discussion that blends value investing discipline with geopolitics, market psychology, and one very detailed stock teardown. Cameron and Tony debate the limits of guests who can’t tolerate pushback, why value investing is the “broccoli diet” of finance, and whether optimism in global equity markets has reached dangerous levels. From US military actions in Venezuela and their implications for oil markets, to Wall Street’s unanimous bullishness for 2026, the episode circles back to a core QAV principle: prediction is fragile, process is durable. The second half dives deep into Fenix Resources, unpacking how vertical integration can create a moat in iron ore, even at the smaller end of the production scale.

The final QAV episode of 2025 is a wide-ranging year-end wrap that blends portfolio performance, market structure, and deeper system thinking. Cameron and Tony review an exceptional six-month run for QAV portfolios, with multiple stocks delivering triple-digit returns, before drilling into what actually drove those results. Tony presents a data-heavy “Pulled Pork” analysis that isolates growth over PE as a potential explanatory factor behind this year’s outperformance, raising the possibility of a future refinement to the QAV scoring system. The conversation then moves through global market performance, leadership changes at Woodside, takeover drama at HUM, crowd psychology, housing constraints, and the economics of modern media, closing with books, TV, and reflections on how fast time now seems to move.