Rob Pizzichetta, Founder of Mont Wealth, interviews David Pace, founder of Greencape (2006) and the first Melbourne inductee into the Funds Management Hall of Fame, about his career from KPMG to Merrill/BlackRock and the frustrations with bureaucracy that led him to build a boutique focused on investing, alignment, and culture, including outsourcing operations to Challenger and transparent profit sharing. Pace argues passive growth and benchmarking incentives (including APRA’s underperformance rule) drive risk aversion and large opportunity costs, making this a compelling time for quality active managers who can exploit widening gaps between price and fundamental value. He outlines what to look for in active managers (investment in research travel, performance fees, succession, and conviction), discusses the importance of strong investor relations, and reflects on Australia’s outlook and AI’s labor implications. He also shares his post-retirement activities in music, volunteering, and mentoring.

00:00 Hall of Fame Intro

01:22 Career Origins and KPMG

02:53 Why Greencape Started

04:39 Building Culture and Structure

08:10 Active Versus Passive Shift

12:38 Time Horizon and Performance Pressure

13:52 APRA Rules and Incentives

17:00 What Makes Great Active

19:47 Fees Inhouse and Marketing

22:03 Core Satellite Portfolios

23:02 Conviction Through Drawdowns

24:00 Investor Relations Matters

27:49 Shareholder Advocacy Role

29:15 Passive Versus Active Debate

30:31 Super Funds And MER Trap

33:33 Australia Outlook And AI

36:27 Passive Capital Misallocation

38:09 Bubbles And Valuation Hype

40:42 Life After Retirement

42:43 Final Thanks And Wrap

Paul Keating had the recession we had to have. Now, forty years later, are Australian homeowners staring down the housing correction we had to have?

In this episode of Pizz-Spective, we pull apart the data, the history and the economics behind Australia's cooling property market and ask whether what's coming is a manageable blip or something more consequential.

We start with Cotality's Chart of the Month, which maps every capital city housing downturn over the past four decades. Ten corrections. Ten different stories. And some striking patterns about what causes them, how deep they go, and how fast they recover.

Then we turn to RBA Assistant Governor Sarah Hunter, who this week put the housing market squarely in the central bank's sights, warning that three interest rate hikes in 2026, combined with the Albanese government's landmark negative gearing and capital gains tax changes, could compound in ways the property market hasn't seen before. With states potentially facing a $9 billion stamp duty shortfall, the ripple effects go well beyond Sydney auction clearance rates.

Finally, we dig into one of the most important and most under appreciated pieces of RBA research in recent years. When house prices fall, what actually happens to the economy? How does housing wealth compare to share market wealth in driving what Australians spend? And with 55.8 cents of every dollar of household wealth sitting in residential real estate, just how exposed is the Australian consumer to what happens next in the property market?

The answers, drawn from decades of data, might surprise you.

This episode draws on Cotality's May 2026 Monthly Housing Chart Pack, RBA research bulletin "Wealth and Consumption" by May, Nodari and Rees, and reporting on RBA Assistant Governor Sarah Hunter's comments at the Bloomberg investor forum, Sydney, May 2026.

Pizz-Spective is an independent economics and property commentary podcast. Nothing in this episode constitutes financial advice.

Bull markets don't climb in a straight line. They climb by grinding through fear and right now, there is plenty of it.

Middle East conflict. Energy price shocks. AI over-investment. A jobs apocalypse. Stretched valuations. A Federal budget that just rattled the banking sector. The wall of worry is high, and getting higher.

But here's what history tells us: the higher the wall, the greater the opportunity on the other side.

In this episode, we work through the wall brick by brick separating the genuine risks from the noise, and explaining how Mont Wealth portfolios are positioned to navigate both sides of this complex market environment.

We look at why global earnings continue to do the heavy lifting, what a weaker US dollar means for your international exposure, and why the AI opportunity is far broader and more durable than most investors currently appreciate.

We also tackle what happened in the Australian market this week head on. CBA's 10% single-day fall wasn't just a bad result it was a signal. A signal about bank valuations, slowing credit growth, and the structural risk quietly accumulating inside Australia's most widely held passive investment products. If your portfolio looks anything like the ASX index, this conversation matters.

And we close with the question that sits behind all of it not just what to own, but how to own it. Because in an environment of genuine dispersion and shifting policy, getting the structure right can be just as powerful as getting the asset allocation right.

This episode covers: Wall of worry · Recession dashboard · US stimulus · AI cycle · USD weakness · Global equities · Geographic rebalancing · CBA result · Budget impact · Passive fund concentration · Active management · Superannuation strategy

For general information only. Not financial advice. Speak to your Mont Wealth adviser before making investment decisions.

Rob Pizzichetta (Founder of Mont Wealth) lays out an evidence-based case for being actively underweight Australian equities and overweight global, particularly US, equities. He argues the RBA is trapped between rising inflation (recently 3.6%, forecast to peak ~4.8%), weak growth (~1.3%), high household debt and variable-rate mortgages, with structural issues in productivity, housing supply (dwelling investment forecast cut to -1.1%), fiscal spending offsetting tightening, and risks of unanchored inflation expectations. Bank updates signal margin pressure, softer credit demand and rising arrears, while early corporate disappointments and likely downgrades collide with unattractive ASX valuation versus ~5% risk-free bond yields. In contrast, he highlights broadening US earnings strength, a Fed on hold, and a major AI capex cycle concentrated in US-listed companies, then recommends reducing AU equity exposure, increasing global/US exposure, and using income-generating assets for domestic allocation.

00:00 Big Picture Thesis

01:06 RBA Rate Squeeze

03:25 Structural Weak Spots

06:14 Banks Flash Warning

08:07 ASX Valuation Trap

09:17 Why US Looks Better

11:05 AI Capex Supercycle

12:35 Portfolio Moves

15:07 Final Takeaways

Rob Pizzichetta of Mont Wealth interviews Michael Vincent, Senior M&A Partner at EP Advisors, about what Australian business owners need to know before selling—often their biggest financial event. They discuss why many owners lack diversification, tax planning and clarity on buyer expectations, and note CGT concessions may apply for retirement (seek tax advice). Vincent explains common seller profiles (fatigued baby boomers vs growth-focused founders), active sectors (facilities management, essential services, infrastructure services, food, healthcare/NDIS), and key mistakes such as trying to sell after earnings peak. He outlines mid-market buyers (trade and private equity), deal types (platform vs bolt-ons), typical EV/EBITDA multiples (often 5–7, ranging ~3–10), how to position growth and clean financials to improve outcomes, options to sell a majority stake and stay for a “second bite,” and why using an advisor helps run competitive processes and structure deals.

00:00 Welcome and Guest Intro

00:11 Why Selling Matters

01:08 Seller Mindsets and Triggers

02:41 Boomer Industries in Play

03:46 Common Seller Mistakes

04:48 Mid Market Buyers Explained

06:58 Multiples and Valuations

08:30 Boosting Your Multiple

10:18 Hot Sectors and Fragmentation

11:35 Partial Exit Second Bite

13:16 Getting Ready to Sell

14:16 DIY Sale vs Advisor

15:22 Timing the Sale Process

16:14 Contact and Wrap Up

Rob Pizzichetta, founder of Mont Wealth, argues that investing is entering a new structural regime after 10–15 years of tailwinds from falling rates, low inflation, expanding valuations, and central bank liquidity, meaning returns are likely lower, inflation more persistent, and diversification harder as assets move more together. Drawing on Chris Joye’s framework, he highlights risks including AI-driven capital spending being inflationary, core US inflation staying above target, asset prices not pricing rate-hike risk, and a possible synchronized global hiking cycle; in Australia, he cites inflation driven by government spending and immigration, per-capita recession conditions, and a potential RBA cash rate drifting toward 5–6%. He illustrates how a 1% return shortfall can cost a 40-year-old about $607,000 in super over 25 years, critiques passive index concentration, and outlines Mont Wealth’s strategic growth portfolio across shares (39%), bonds/cash (20%), alternatives (25%), and real assets (15%) with active, dynamic allocation.

00:00 Power of One Percent

00:54 New Market Regime

01:39 Tailwinds Are Over

03:06 Chris Joye Warning

04:22 Australia Rate Shock

05:09 Compounding Retirement Gap

06:37 Passive Index Risks

08:00 Choose Discipline Now

09:18 Mont Wealth Portfolio Pillars

11:07 Next Decade Take Ownership

12:02 Final Thoughts and Signup

Global Small & Mid-Caps for Intergenerational Wealth | Gino Rossi (Vestigo) on Macro, Risk & Discovery Investing

Rob Pizzichetta of Mont Wealth hosts Gino Rossi, founder and portfolio manager of Vestigo Investments and architect of the Vestigo Discovery Fund, to discuss today’s market environment and Vestigo’s global small- and mid-cap strategy designed for intergenerational wealth and sophisticated family offices.

Rossi outlines his background across buy-side, sell-side, and corporate strategy, and explains Vestigo’s “Discovery” focus on under-covered, liquid small caps. They review macro signals including CEO economic confidence, copper, cyclicals vs defensives, put/call ratios, and credit spreads, noting strong markets amid consumer pessimism and potential complacency risks.

Rossi details Vestigo’s V6 framework (industry structure, returns/cash flow, balance sheet optionality, management tenure, ownership, runway), systematic portfolio construction, and a hedging process tied to yield curve and sentiment, plus examples like Rambus and Sectra.

00:00 Welcome and Agenda

01:10 Gino Origin Story

03:42 Macro Signals and Tariffs

08:49 Complacency and Credit Risks

11:45 Why Active Management

13:04 V6 Stock Selection Framework

18:43 Portfolio System and Sizing

21:40 Performance and All Weather Design

24:01 Undiscovered Value Opportunities

26:57 Hedging Framework and Key Risks

29:30 Who Vestigo Is For

30:42 How to Learn More and Wrap Up

In this episode of Pizz-Spectives, Mont Wealth founder Rob Pizzichetta sits down with Phil Cornet, Portfolio Manager of the Atlas Equity Income Fund, to discuss the evolving macroeconomic landscape and how investors can generate reliable income from Australian equities.

Phil shares insights from over 25 years in financial markets, including his experience through the Lehman Brothers collapse, the tech bubble, and today’s environment shaped by AI hype, rising inflation and the rapid growth of private credit markets.

The conversation explores why stock dispersion and volatility are rising, how the “buy the dip” mentality is shaping markets, and why income-focused strategies may provide greater stability for retirees and SMSF investors.

Phil also explains the Atlas buy-write strategy, how the fund targets 8–10% income per year, and why the Australian share market remains one of the best markets globally for dividend and franking income.

Topics covered include:

• Macro similarities between today’s market and past bubbles

• Risks building in private credit and shadow banking

• Why stock dispersion is at record levels

• How option strategies can enhance equity income

• The outlook for Australian equities and dividend investing

⚠️ Disclaimer: This podcast contains general advice only and does not take into account your personal financial circumstances.