The Contrarians with Adam and Adir

Live from The Commons in Cremorne, Adam and Adir are joined by Chris Judd for a special Ask Us Anything episode.This week:How do we attract more capable people into politics?What would actually improve productivity in Australia?When should founders, investors and operators pivot, hold course or walk away?Got a question you want answered? Drop it in the comments!Join us on Substack for articles, news and more: https://www.thecontrarianspod.com/

Luke Laretive joins Adam and Adir to unpack how Seneca approaches active investing, why its small-cap fund uses an unusually aligned fee structure, and where he still sees opportunities in an increasingly passive market. They dig into Australian Finance Group’s mortgage and lending business, HMC Capital’s brutal repricing, HealthCo and Healthscope, DigiCo, private credit and why the market may be overlooking some very cheap assets.00:00 - Luke Laretive and Seneca16:05 - AFG Deep Dive32:14 - HMC Capital Deep Dive40:11 - HealthCo, DigiCo and Private CreditThis episode was part of a paid partnership with Seneca Financial Solutions. We thank them for supporting the pod and keeping all of our content free.Visit https://senecafs.com.au/ to learn more.Join us on Substack for articles, news and more: https://www.thecontrarianspod.com/

Adam and Adir record live from The Commons in Cremorne, covering Australia’s worsening housing and rent crisis, Apple’s rumoured folding iPhone, the company’s pricing power, and whether AI’s frontier model economics can survive customers moving to cheaper alternatives. Chris Judd then joins to talk markets, uncertainty, inflation, US debt, Cogstate, MAAS Group, Firmus, data centres, founder-led investing and why the best returns often come from backing people prepared to think differently.00:00 - Live From The Commons03:07 - Australia’s Housing and Rent Crisis19:02 - Apple’s Folding iPhone30:30 - AI Models and Data Centres35:10 - Chris Judd Joins Pod46:31 - Chris Judd’s Macro View58:18 - Cogstate1:03:37 - MAAS Group and Firmus1:16:02 - Founder-Led InvestingA big thank you to the team at The Commons for hosting our first live episode of the pod (or something like that). You can link to their website here: https://www.thecommons.com.au/Link to Cerutty Macro Fund: https://ceruttymacrofund.com.au/Join us on Substack for articles, news and more: https://www.thecontrarianspod.com/

Adam and Adir debate whether founders and senior executives should be allowed to sit on external boards while running a business, before turning to the coming pressure on big law fees as AI starts breaking the traditional leverage model. They also unpack Yo-Chi’s extraordinary rise, its reported billion-dollar-plus valuation, global expansion plans, store economics, and why timing, product and execution can turn a good retail concept into a monster business.01:05 - The CEO Board Seat Debate09:26 - AI Comes For Big Law24:29 - Yo-Chi’s $2bn Valuation29:54 - Why Yo-Chi Worked38:55 - Yo-Chi’s Global UpsideJoin us on Substack for articles, news and more: https://www.thecontrarianspod.com/

Adam and Adir unpack Expert360’s painful sale, why founders need to think carefully about golden windows, and what CTM’s return to the ASX says about survival, short sellers and investor risk. They also dig into Iran’s blockade problem, student politics at Monash, Alastair Clarkson’s messy North Melbourne exit, and the athlete rich list quiz that turns into a bigger conversation about brand, equity and celebrity power. 00:00 - Intro12:20 - Alistair Clarkson & North Melbourne25:08 - Student Politics at Monash36:17 - The Athlete Rich List Quiz50:30 - Iran and the Straight of Hormuz1:02:30 - Expert3601:16:04 - CTM  Join us on Substack for articles, news and more: https://www.thecontrarianspod.com/ Try Braze