Investopoly

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Why do most diversified Australian portfolios still allocate nearly half of their equity exposure to Australian shares, when Australia represents only around 2% of the global share market?
In this episode, we challenge the traditional 45/55 split between Australian and international equities and examine whether it truly makes sense in today’s global economy.
Campbell breaks down the most common arguments for maintaining a heavy domestic allocation, franking credits, reduced currency risk, higher dividend yields, lower volatility, and familiarity, and tests whether they justify such a significant home bias. While franking credits provide a real and measurable benefit, he explores why that benefit may be meaningful but not transformational. He also unpacks the realities of currency hedging, sector concentration, tax efficiency, and long-term compounding.
Australia’s share market is highly concentrated in banks and miners, with limited exposure to fast-growing sectors like technology. Over the past decade, global markets have outperformed, largely due to stronger earnings growth and broader diversification. Yet over 30 years, returns have been surprisingly similar, which raises a more important question: what does the future likely reward?
Campbell also discusses how the investor stage matters. Retirees seeking income may prefer higher domestic exposure. Accumulators focused on long-term after-tax compounding may benefit from greater global diversification and capital growth orientation.
This episode isn’t about abandoning Australian shares. It’s about thinking more critically about where new investment dollars should go and whether the default allocation most Australians inherit is grounded in evidence, or simply habit.
My new book out in 2026: To join the pre-order waitlist and get a bonus. More info go to: http://www.investopoly.com.au/book

Do you have a question for the podcast? Email us at [email protected].

If you're interested in working with my team and me, discover how we can work together here: https://prosolution.com.au/prospective-client/

If this episode resonated with you, please leave a rating on your favourite podcast platform.

Subscribe to my weekly blog: http://www.investopoly.com.au/email

Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog: https://prosolution.com.au/books/

IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.

In this strategy-heavy Q&A episode, Stuart tackles sophisticated portfolio questions from high-income earners and mid-life investors recalibrating their next move. A key theme is structure when (and whether) to introduce a family trust, how to think about carried-forward capital losses, and whether tax optimisation today outweighs flexibility tomorrow.
For one couple with substantial capital loss carry-forwards, the discussion explores whether to deliberately realise gains to “use them up” or stay focused on optimal long-term asset allocation. Stuart also weighs in on when advice and trust structures meaningfully add value versus when they add cost and complexity.
Another listener considers transitioning from a property-heavy portfolio into ETFs over the next decade. Stuart unpacks how to diversify intelligently, manage risk sequencing in the final accumulation years, and avoid trying to time the market with lump-sum investments.
The episode also revisits the ever-present PPOR upgrade dilemma: is taking on new debt in your mid-40s worth it if early retirement is within reach? And for younger, debt-free families, does reintroducing leverage via investment property make sense, or is simplicity underrated?
A thoughtful episode on tax, temperament, and structuring wealth for optionality, not just returns.
My new book out in 2026: To join the pre-order waitlist and get a bonus. More info go to: http://www.investopoly.com.au/book

Do you have a question for the podcast? Email us at [email protected].

If you're interested in working with my team and me, discover how we can work together here: https://prosolution.com.au/prospective-client/

If this episode resonated with you, please leave a rating on your favourite podcast platform.

Subscribe to my weekly blog: http://www.investopoly.com.au/email

Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog: https://prosolution.com.au/books/

IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.

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AI has moved from buzzword to investment obsession almost overnight. From semiconductors and data centres to software platforms and critical minerals, “the AI trade” has become shorthand for backing the companies expected to benefit most from this technological shift.
But before assuming today’s obvious winners will still look obvious in a decade, it’s worth revisiting the last time a world-changing technology captivated markets.
In this episode, Stuart unpacks what really happened during the dot-com bubble and where investors went wrong. The internet thesis was correct. The valuations were not. Many of the most celebrated companies of 2000 ultimately destroyed long-term shareholder value, despite the technology itself reshaping the world; only a handful adapted and endured.
He explores the parallels with AI today: sky-high expectations, capital flooding into perceived winners, and the growing belief that “this time is different.” We also examine why many of the true long-term winners may not yet exist, and why broad market exposure may already capture much of AI’s eventual impact.
Most importantly, Stuart explains why you don’t need to predict the winners to benefit. History suggests that trying to identify and then time the next dominant technology companies is far harder than it looks. Instead, a rules-based, diversified approach allows markets to sort winners from losers over time.
AI may well be the most significant technological advancement of our generation. But that doesn’t mean your investment strategy needs to change.
My new book out in 2026: To join the pre-order waitlist and get a bonus. More info go to: http://www.investopoly.com.au/book

Do you have a question for the podcast? Email us at [email protected].

If you're interested in working with my team and me, discover how we can work together here: https://prosolution.com.au/prospective-client/

If this episode resonated with you, please leave a rating on your favourite podcast platform.

Subscribe to my weekly blog: http://www.investopoly.com.au/email

Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog: https://prosolution.com.au/books/

IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.

In this Q&A episode, Stuart unpacks a series of high-stakes property and borrowing decisions from listeners at very different life stages, from a 24-year-old with rising income and growing capacity, to high-earning families juggling multiple investment properties and eyeing $3–4 million dream homes.
A central theme emerges: just because you can borrow more, doesn’t always mean you should. Stuart explores how to think about deploying large cash reserves, whether selling investment assets to fund a principal residence makes sense, and how to avoid eroding long-term optionality when upgrading lifestyle. He also tackles the “forever home” dilemma: buy now and risk stretching too far, or wait and risk being priced out?
For younger investors, the discussion turns to optimising borrowing capacity early, debt recycling, and the trade-offs between renovating, investing, and preserving flexibility. For established professionals approaching their 50s, Stuart examines timing decisions around relocating, selling the family home, and managing tax efficiency across structures like trusts and SMSFs.
This episode is a deep dive into strategic sequencing, how to align property decisions, leverage, and lifestyle goals without compromising long-term financial independence.
My new book out in 2026: To join the pre-order waitlist and get a bonus. More info go to: http://www.investopoly.com.au/book

Do you have a question for the podcast? Email us at [email protected].

If you're interested in working with my team and me, discover how we can work together here: https://prosolution.com.au/prospective-client/

If this episode resonated with you, please leave a rating on your favourite podcast platform.

Subscribe to my weekly blog: http://www.investopoly.com.au/email

Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog: https://prosolution.com.au/books/

IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.

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Financial modelling has become a powerful sales tool across the wealth industry, especially in property investing. In this episode, Stuart unpacks why slick projections and long-term forecasts can look compelling, yet still lead investors in the wrong direction.
He explains a simple but critical truth: models don’t reveal the future, they reflect assumptions. And when the person building the model also benefits if you transact, those assumptions deserve serious scrutiny. He explores how optimistic growth rates, understated costs, and smooth “straight-line” returns can quietly transform modelling from a decision tool into a persuasion tool.
You’ll learn why sequence risk matters more than most projections admit, how rental and cash-flow assumptions are often overstated, and why strategies that rely on early growth are inherently fragile. Stuart also breaks down execution risk, borrowing capacity, credit policy changes, interest-only rollovers, and why many strategies fail not on paper, but in practice.
Finally, he explains how high-quality modelling should really be used: stress-tested, conservative, evidence-based, and compared against credible alternatives. If you’re presented with a model that promises certainty, this episode will help you ask the right questions and avoid buying an outcome that only works in a spreadsheet.
My new book out in 2026: To join the pre-order waitlist and get a bonus. More info go to: http://www.investopoly.com.au/book

Do you have a question for the podcast? Email us at [email protected].

If you're interested in working with my team and me, discover how we can work together here: https://prosolution.com.au/prospective-client/

If this episode resonated with you, please leave a rating on your favourite podcast platform.

Subscribe to my weekly blog: http://www.investopoly.com.au/email

Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog: https://prosolution.com.au/books/

IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.