Ending October 17, 2025

Video Overview 

 TMM Facebook Community

THIS IS VERY IMPORTANT

The main issue of concern is how the AI bubble bursts. This is not even a debate, with the only question is how it all plays out. And we already know that. 

'Absolutely' a market bubble: Wall Street sounds the alarm on ... Wall Street is warning the AI trade may be overheating as record spending, investor optimism, and soaring valuations fuel fresh fears of ... finance.yahoo.com

Breakingviews - There's no such thing as a 'good' bubble Tech titans like Jeff Bezos argue the long-term benefits to society from artificial intelligence outweigh the losses investors may suffer... www.reuters.com

Short Stories

• Deglobalisation - Slowly, then all at once.
• Conflict - The teams have been selected.
• Price Controls - Government and supply chains.
• Sector and Industries - The old is new.

The Oz Economy

We are moving into the big leagues folks. Buckle up. 

Australia, United States strengthen defence ties with guided w... Minister for Defence Industry Pat Conroy has announced the signing of a joint statement of intent and the opening of a new joint office t... www.defenceconnect.com.au

As we discussed in the May 2025 Coaching call, rare earths and other precious metals are going to play a central role in the future of the all economies. And now they are.

Something to keep an eye on. If unemployment continues to rise then the momentum without additional government spending or private borrowing will be lower economic growth and lower asset prices, especially houses. 

Breaking: Australia's unemployment rate jumps to 4.5pc Australia's unemployment rate jumped to 4.5 per cent in September, up from 4.3 per cent in August. www.abc.net.au

Lesson of the Week

At this point in the cycle, it can appear safe to be invested since everyone knows the market will continue to rise. But many investors fail to understand that at these valuations, it is the unexpected event that changes investor behavior. And when the market is expensive, it changes fast. 

The TMM Podcast

Wherever you get your podcasts 

Spotify 

Steve's Signals 

Go deeper each week with Steve’s take on the market’s most interesting companies and ETFs, what’s working, what’s not, and where value is hiding, (and what we're investng in).

Access stock reviews, sector breakdowns, and portfolio insights shared exclusively with paid members.

What you get

1. Monthly Live Coaching Calls with Steve, Tom and Jacob
2. Weekly ETF and stock picks with commentary
3. Extended “S&N” editions
4. Early access to new content
5. Priority Q&A in the community or podcast
6. Access to hours of Mini-Courses & Quick Guides in our portal
7. ETFPortfolio Templates
8. Macro insights and sector scorecards
9. Over two years of recorded Coaching calls to see what worked
10. Receive diversification insights, risk notes, and simple action points

Upgrade to Signals & Noise Premium – $9.99 per week to unlock it.