ASML (AMS/NASDAQ: ASML) powers the world’s most advanced chips. In this episode of the Intelligent Wealth Podcast, Tony Byrne (Fund Manager), Carl Roberts (Fellow Director) and Awet Ghirmay (Head of Research) break down ASML’s EUV monopoly, why TSMC/Intel/Samsung depend on it, the 70/30 revenue mix (systems vs services), backlog, buybacks, valuation, and the big risks (customer concentration, supply chain, geopolitics, and “what’s next” tech shifts).

Why it matters for serious investors: ASML sits at the “picks & shovels” layer of the AI and semiconductor supercycle. From EUV dominance and 14k+ patents to a growing services flywheel, we discuss whether today’s premium is justified and how to think about long-term returns.

Keypoints:
00:00 Introduction to ASML and the Podcast
02:01 Understanding ASML's Business Model
05:01 ASML's Dominance in Semiconductor Manufacturing
08:00 The Importance of Processing Power
10:47 ASML's Market Control and Historical Context
15:13 The Size and Technology of ASML's Machines
16:38 Identifying Risks in ASML's Business
20:20 Valuation and Future Growth Potential
22:43 Geopolitical Risks and Future Wars
26:42 Concluding Thoughts on ASML's Future

🎁 Free 1-Page Company Snapshot: https://mailchi.mp/minervamoneymanagement/how-to-get-top-company-snapshots

Resources & Mentions:
🌐 Minerva Money Management – https://minervamoneymanagement.co.uk
🌐 ASML - https://www.asml.com/en
Apple Podcast: https://podcasts.apple.com/mk/podcast/intelligent-wealth-podcast/id1750755768

📌 Next Episode → A deep dive into Nova Measuring Instruments, a provider of metrology devices for advanced process control used in semiconductor manufacturing. Turn on to receive the notifications!

Thank you all for listening, and let us know what you think in the comments!

Disclaimer:
The value of investments can rise as well as fall. You may not get back the full amount you invested. The views stated in this podcast are purely personal opinions, not advice. You should always consult a professional for investment advice.
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In this episode of the Intelligent Wealth Podcast, we deep-dive into Games Workshop, the £4.7B FTSE 100 company behind Warhammer – one of the strongest consumer franchises in the world.

👉 What you’ll learn in this episode:
00:00 Introduction
02:05 Overview of Games Workshop
05:23 Performance and Growth of Games Workshop
09:21 Business Model and Customer Engagement
13:23 Market Position and Competitive Advantages
17:35 Challenges and Future Growth
21:49 Management and Capital Allocation
28:47 Conclusion

If you’d like to get free company snapshots, click here to download: https://mailchi.mp/minervamoneymanagement/how-to-get-top-company-snapshots

Resources & Mentions:
🌐 Minerva Money Management – https://minervamoneymanagement.co.uk
🌐 Games Workshops - https://www.warhammer.com/en-GB/home?srsltid=AfmBOooMibfMV5D9peZInxTMjL5LmX8ccX8rToIi-0q5KaKrsveg8L9R
Apple Podcast: https://podcasts.apple.com/mk/podcast/intelligent-wealth-podcast/id1750755768

📌 Next Episode → A deep dive into ASML, one of the most important companies in the world of semiconductors. Don’t miss it!

Disclaimer:
The value of investments can rise as well as fall. You may not get back the full amount you invested. The views stated in this podcast are purely personal opinions, not advice. You should always consult a professional for investment advice.
--------------------

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In this episode of the Intelligent Wealth Podcast, we dive deep into the fascinating story of Smarter Web Company – a UK-listed business aiming to become the British MicroStrategy by turning its balance sheet into a Bitcoin treasury.

👉 We discuss:
00:00 Introduction to Intelligent Wealth Podcast
01:56 Overview of the Smarter Web Company
05:39 Performance Analysis of Smarter Web Company
12:41 Skepticism Towards Bitcoin Treasury Companies
21:28 Ponzi Scheme Discussion
27:32 Bitcoin vs Gold: A Comparative Analysis
31:45 Future of Bitcoin Treasury Companies
37:48 Risks and Challenges Ahead
39:39 Closing Thoughts and Market Outlook

If you’d like to get free company snapshots, click here to download: https://mailchi.mp/minervamoneymanagement/how-to-get-top-company-snapshots

Resources & Mentions:
🌐 Minerva Money Management – https://minervamoneymanagement.co.uk
🌐 The Smarter Web Company - https://www.smarterwebcompany.co.uk/

👉 Next Episode Preview: Game Workshops- a British manufacturer of miniature wargames.

Thank you all for listening!

Disclaimer:
The value of investments can rise as well as fall. You may not get back the full amount you invested. The views stated in this podcast are purely personal opinions, not advice. You should always consult a professional for investment advice.
--------------------

Music from #Uppbeat (free for Creators!):
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In this episode of the Intelligent Wealth Podcast, the hosts take a deep dive into Wise (formerly TransferWise) – one of the UK’s standout fintech success stories.

Wise processes over £145 billion in cross-border transactions annually, offering faster, cheaper money transfers than traditional banks. But is it really a quality long-term investment?

We cover:
00:00 Introduction to Quality Investing
01:51 Exploring Wise: A Fintech Disruptor
05:23 Wise's Performance and Market Position
10:43 Investment Insights and Mission-Driven Business
16:04 Risks and Criticisms of Wise
26:55 Future Outlook and Conclusion

📊 If you’d like a 1-page Wise company snapshot, click here to download: https://mailchi.mp/minervamoneymanagement/how-to-get-top-company-snapshots

🌐 Minerva Money Management – https://minervamoneymanagement.co.uk
🌐 Wise: https://wise.com/

👉 Next Episode Preview: The Smarter Web Company - a United Kingdom-based technology company and web design agency founded in 2009 that specialises in designing and building websites. The company has adopted a unique Bitcoin Treasury Policy by accepting and holding Bitcoin as part of its financial strategy.

Thank you all for listening!

Disclaimer:
The value of investments can rise as well as fall. You may not get back the full amount you invested. The views stated in this podcast are purely personal opinions, not advice. You should always consult a professional for investment advice.
--------------------

Music from #Uppbeat (free for Creators!):
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License code: C4BIIEC6POGUQVDJ

MicroStrategy has become the world’s largest Bitcoin treasury company — raising billions, buying Bitcoin, and transforming from a software business into a crypto giant.

But is this strategy brilliant financial innovation… or a high-risk bubble waiting to burst?

In this episode of the Intelligent Wealth Podcast, Tony, Carl, and Awet debate:
1. MicroStrategy’s 2,400% share price rise in 5 years vs. Bitcoin’s 888%
2. How they raise funds through bonds & equity to keep buying BTC
3. Risks of extreme debt, volatility & exogenous shocks
4. Michael Saylor’s vision, innovation, and cult-like following
5. Is it smarter to own MicroStrategy stock… or just Bitcoin itself?

📌 Links & Mentions:
🧾 Download the Company Snapshot: https://mailchi.mp/minervamoneymanagement/how-to-get-top-company-snapshots

🌐 Minerva Money Management – https://minervamoneymanagement.co.uk
🌐 Strategy: https://www.strategy.com/

Next Episode Preview: Wise — a British financial technology company focused on global money transfers

Thank you all for listening!

Disclaimer:
The value of investments can rise as well as fall. You may not get back the full amount you invested. The views stated in this podcast are purely personal opinions, not advice. You should always consult a professional for investment advice.
--------------------

Music from #Uppbeat (free for Creators!):
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License code: C4BIIEC6POGUQVDJ

🚨 Novo Nordisk Stock Down 66% - Is This a Golden Buying Opportunity or a Red Flag?

In this episode of the Intelligent Wealth Podcast, our expert panel dives deep into the recent plunge in Novo Nordisk’s stock price - one of the most dominant pharmaceutical companies globally in the obesity and diabetes drug market.

With insights from Awet, Head of Research, directors Carl Roberts and Tony Byrne at Minerva Money Management, we unpack:

* Why Novo Nordisk's share price crashed
* How competition from Eli Lilly is reshaping the market
* Whether Trump-era drug pricing pressure is here to stay
* The massive $10B investment in US manufacturing
* Forward PE vs. industry average — is Novo now undervalued?
* Why diabetes and obesity drugs are only going to grow in demand
* Is this stock mispriced right now?

With 63% market share in diabetes drugs and strong recurring revenue, can Novo Nordisk weather the storm and come out stronger? Or is the market pricing in long-term trouble?

Timestamps:
0:00 - Introduction
1:30 - Novo Nordisk: Company Background
6:30 - Stock Price Crash Explained
10:00 - Financials & Valuation Metrics
14:00 - Global Diabetes & Obesity Trends
20:00 - Trump, Tariffs & Drug Price Pressure
24:00 - Competitive Moats & R&D Edge
27:00 - Final Verdict: Buy, Hold, or Avoid?

🎧 Listen on Apple: https://podcasts.apple.com/ch/podcast/intelligent-wealth-podcast/id1750755768?l=it

📌 Links & Mentions:
🧾 Download the 1-page Novo Nordisk Company Snapshot: https://mailchi.mp/minervamoneymanagement/how-to-get-top-company-snapshots

🌐 Minerva Money Management – https://minervamoneymanagement.co.uk
🌐 Novo Nordisk – https://www.novonordisk.com/

Next Episode Preview: MicroStrategy — Bitcoin treasury play or dangerous bet?

Thank you all for listening!

Disclaimer:
The value of investments can rise as well as fall. You may not get back the full amount you invested. The views stated in this podcast are purely personal opinions, not advice. You should always consult a professional for investment advice.
--------------------

Music from #Uppbeat (free for Creators!):
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License code: C4BIIEC6POGUQVDJ

Welcome back to the Intelligent Wealth Podcast! In this episode, our expert dives deep into IBM – the 113-year-old tech giant that's quietly reinventing itself in AI, hybrid cloud, and quantum computing.

Despite being overlooked for years, IBM is making bold moves with massive investments in next-gen tech. Its quantum computing fleet, growing AI consulting revenue, and focus on enterprise solutions raise an important question: Is IBM the most underrated tech stock in 2025?

**We cover**
00:00 Introduction to Intelligent Wealth Podcast
01:09 Quality Investing and IBM's Historical Context
02:47 IBM's Evolution and Current Business Model
05:09 IBM's Recent Performance and Market Positioning
05:13 IBM at a Crossroads
10:39 The Quantum Computing Landscape
15:55 AI: The Business Focus
21:29 Competitive Landscape and Future Outlook

**Key Takeaways**
1. IBM has a long history of dividend increases, making it attractive to investors.
2. The company is currently focusing on AI and quantum computing as key growth areas.
3. BM's market cap is relatively low compared to other tech giants, presenting a potential opportunity.
4. The potential for quantum computing is significant, but practical applications are still years away.
5. AI consulting is a growing market, and IBM is well-positioned to benefit from it.
6. IBM's financial metrics show healthy margins, but growth has been inconsistent.
7. The competitive landscape for quantum computing is fierce, with major players like Google and Microsoft.
8. Investors should consider the risks associated with IBM's long-term growth potential.
9. IBM's recurring revenue model in AI consulting provides stability.
10. The migration to cloud services is still in its early stages, offering future growth opportunities.

📘 Get our FREE 1-page Company Snapshot on IBM: https://mailchi.mp/minervamoneymanagement/how-to-get-top-company-snapshots

📌 Links & Mentions:
🌐 Minerva Money Management – https://minervamoneymanagement.co.uk
🌐 IBM– https://www.ibm.com/uk-en

Disclaimer:
The value of investments can rise as well as fall. You may not get back the full amount you invested. The views stated in this podcast are purely personal opinions, not advice. You should always consult a professional for investment advice.
--------------------

Music from #Uppbeat (free for Creators!):
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License code: C4BIIEC6POGUQVDJ

Welcome back to the Intelligent Wealth Podcast, where we deep-dive into high-quality investment opportunities. In this episode, we analyse Ashtead Technology, a little-known UK-listed company that's quietly dominating the subsea equipment rental market.

Ashtead Technology provides specialised equipment and services for offshore energy projects – from oil and gas to renewables. With over 30,000 rental assets, a 50% market share in the survey and robotics and operations in 80+ countries, the company offers a compelling blend of moat, scale and global reach.

Despite a 45% fall in its share price, the stock has delivered 175% total return over 5 years and boasts 75%+ gross margins, 26% operating margin and a strong capital return model. We think it may be one of the **most underrated quality stocks** in the UK market today.

**Topics We Cover**
- Why Ashtead has a durable competitive advantage
- The company's hybrid exposure to oil & renewables
- Risk factors including goodwill and cyclicality
- Whether the recent share price drop is a buying opportunity
- Management incentives, insider ownership & capital allocation
- Long-term potential as the company moves from AIM to main market

📄 Want our 1-page company snapshot on Ashtead Technology? Grab it here: https://mailchi.mp/minervamoneymanagement/how-to-get-top-company-snapshots

📌 Links & Mentions:
🌐 Minerva Money Management – https://minervamoneymanagement.co.uk
🌐 Ashtead Technology– https://www.ashtead-technology.com/who-we-are/leadership-team/

Disclaimer:
The value of investments can rise as well as fall. You may not get back the full amount you invested. The views stated in this podcast are purely personal opinions, not advice. You should always consult a professional for investment advice.
--------------------

Music from #Uppbeat (free for Creators!):
https://uppbeat.io/t/abbynoise/night-...
License code: C4BIIEC6POGUQVDJ