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Protect. Then Grow.

Australian Equities in an "Emotional Recession" | Inside the Rope with David Clark

Updated: 23 hours ago

Is the AI boom starting to look like late 1998? Where are the greatest risks and opportunities for investors right now?


Rob Tucker shares his high-conviction views on the forces shaping markets and how he is positioning portfolios in response.

From the questionable sustainability of the global AI CapEx boom… to Australia’s subdued business confidence and the case for gold and gold equities, Rob explores the themes he believes will matter most for investors over the year ahead.

He also discusses Chester’s approach to balancing predictable cash flows, tactical cyclical opportunities and sources of diversification as markets navigate an increasingly complex environment.

Rob’s views were recorded for David Clark’s Inside the Rope series.

Watch the full conversation below.



IMPORTANT INFORMATION This video is for general information purposes only and does not take into account the specific investment objectives, financial situation or particular needs of any specific reader. As such, before acting on any information contained in this video, viewers should consider the appropriateness of the information to their needs. This may involve seeking advice from a qualified financial adviser. Copia Investment Partners Ltd (AFSL 229316) (Copia) is the issuer of the Chester High Conviction Fund (the Fund). A current PDS and Target Market Determination is available at chesteram.com.au. A person should consider the PDS and TMDs before deciding whether to acquire or continue to hold an interest in the Fund. Any opinions or recommendation contained in this video are subject to change without notice and Copia is under no obligation to update or keep any information contained in this video current.

 

Past performance is not a reliable indicator of future performance. Total returns assume the reinvestment of all distributions. The performance is quoted net of all fees and expenses. The reference indices do not incur these costs. This information is provided for general comparative purposes. Positive returns, which the Fund is designed to provide, are different regarding risk and investment profile to index returns.

 
 

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CHESTER ASSET MANAGEMENT

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Melbourne VIC 3000

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P  1800 442 129

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DISCLAIMER

 

This website provides information to help investors and their advisers assess the merits of investing in financial products. We strongly advise investors and their advisers to read information memoranda and product disclosure statements carefully. The information on this website does not constitute personal advice and does not take into account your investment objectives, financial situation or needs. It is therefore important that if you are considering investing in any financial products and services referred to on this website, you determine whether the relevant investment is suitable for your needs, objectives and financial circumstances. You should also consider seeking independent financial advice, particularly on taxation, retirement planning and investment risk tolerance before making an investment decision.

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Neither Copia Investment Partners Limited, nor any of our associates, guarantee or underwrite the success of any investments, the achievement of investment objectives, the repayment of capital or payment of particular rates of return on investments. Copia Investment Partners Limited publishes information on the website that to the best of its knowledge is current at the time and is not liable for any direct or indirect losses attributable to omissions from the website, information being out of date, inaccurate, incomplete or deficient in any other way. Investors and their advisers should make their own enquiries before making investment decisions.

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© 2026 Chester Asset Management | In partnership with Copia

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The rating issued October 2025 APIR OPS7755AU is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421445 (Lonsec). Ratings are general advice only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. © 2025 Lonsec. All rights reserved.

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The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned APIR OPS7755AU June 2026) referred to in this piece is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual, including target markets of financial products, where applicable, and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at http://www.zenithpartners.com.au/RegulatoryGuidelines

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The Genium rating (assigned July 2025) presented in this document is issued by Genium Investment Partners Pty Ltd ABN 13 165 099 785, which is a Corporate Authorised Representative of Genium Advisory Services Pty Ltd ABN 94 304 403 582, AFSL 246580. The Rating is limited to “General Advice” (s766B Corporations Act 2001 (Cth)) and has been prepared without taking into account the objectives, financial situation or needs of any individual, including target markets of financial products, where applicable, and is subject to change at any time without notice. Past performance information is for illustrative purposes only and is not indicative of future performance. It is not a recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision in relation to this financial product(s). Genium receives a fee from the Fund Manager for researching and rating the product(s). Visit Geniumip.com.au for information regarding Genium’s Ratings methodology.

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