· Podcast Episodes
Navexa Thom Benny

Thom Benny is from Navexa. In the world of investing we're drenched in data. We have accounts with banks, brokers, cryptocurrency exchanges and wallets. It can be difficult trying to track true performance.

Thom has worked in financial marketing and communications for nearly a decade. He has an MA from Victoria University of Wellington and a passion for advancing financial literacy through creative financial technology.

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“I think ultimately the world of finance and investing can be quite a philosophical place, certainly in my experience. You know, my job for a long time was about the ideas of this world. People don't wake up in the morning and think, 'Oh, I'm really excited about the PE ratio on this stock X or whatever.' It's more about the story, it's about the idea and all those people out there in the last few years that have been buying Tesla shares, I would argue that is probably a very philosophical or even emotional thing that they're doing.”

In 2017, Navexa founder Navarre Trousselot had a problem. He’d invested in a handful of stocks, but he was struggling to understand exactly how those stocks were performing.

In his scarce spare time away from his senior developer role in Melbourne’s banking industry, he designed and built his own personal portfolio tracker.

Friends tried it. Friends liked it. Friends asked Navarre to build more tools. They liked those. They asked for more. Navarre and his teammates left their respective previous roles to work on Navexa full time in 2021.



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Phil (30s):

G'day and welcome back to Shares for Beginners. I'm Phil Muscatello. My guest today has described the world of investing as being drenched with data. And he'd know, he's a Kiwi. You can end up with accounts from your bank, your stockbroker and maybe even a crypto wallet. How do you use that information? And more importantly, what are you required to report? My guest today is Thom Benny from Navexa. G'day Thom.

Thom (56s):

Hey Phil. Thanks for having me on.

Phil (57s):

Yeah, thank you very much for dialling in from Wellington, New Zealand.

Thom (1m 1s):


Phil (1m 1s):

Tom has worked in financial marketing and communications for nearly a decade. He has an MA from Victoria University of Wellington and a passion for advancing financial literacy through creative financial technology. So let's start by talking about how you ended up in financial marketing and communications. I believe you're a journalist, but then, you know, as these things happen, there was an accidental move into the field of finance.

Thom (1m 25s):

Yeah. Like so many people who work in this area, a lot of people I talk to say, "Well, I fell into it." And well, you fall into a lot of things along any given career. And I think you just end up choosing the falls a bit more. But I started out as a newspaper journalist. I was a sub-editor and a reporter and a blogger while I was a student. And then I moved into some newsroom work when I moved to Australia in the early 2010s. And then I, yeah, I got a bit over that. I didn't want to start my career in an industry that wasn't, well, let's say that was passed its zenith, to say the least.

Phil (1m 59s):

Not as vibrant as it once was.

Thom (2m 2s):

Yeah, exactly. So I got a job as a copywriter and started learning how to sell things and help people market their ideas and help people get clear on the messages they needed to put out to make their business work and connect with people. And then I ended up taking on a, it wasn't officially called this, but it was like a financial copywriting apprenticeship with a massive us business that had an office in Melbourne; a financial publishing business. And they kind of taught me a lot about money and markets and stocks and investing. And I hadn't really been exposed to that world before. So I had a, not a crash course, it was more of kind of several years of really focused learning.

Thom (2m 44s):

And then I went out and worked for myself for a few years, quite a few years. Now I'm doing this with Navexa.

Phil (2m 50s):

Just tell me about that company, Agora was the name of the company, wasn't it?

Thom (2m 54s):

That's right. Yeah.

Phil (2m 55s):

I think a lot of people suddenly realize how much information there is, drenched with data, as we say, and especially with newsletters as well. So this is specifically, you are kind of behind writing for a number of newsletters. Is that what you're doing?

Thom (3m 10s):

Yeah, that's right. So that business and many others like it, their product or their service is not so much financial advice, but financial ideas. I mean, on the ASX alone, you know, there's something like 2000 stocks and in a given year. Some of those stocks are going to go up and some of them are going to go down. So when I say that this world is drenched and data, it's not just data, but it's opinions, conflicting opinions. And the value of someone who knows what they're talking about and can talk about it in such a way that it's easy and exciting to understand is immensely powerful. So yeah, my job was to help uncover these ideas and work out which ones were going to connect with people and bring in business and hopefully help people make money.

Phil (3m 51s):

So what were a couple of the first things that you started learning about finance? I mean, you obviously had no finance background.

Thom (3m 58s):

Honestly, yeah. I went in from a position of total ignorance. I barely knew what a stock was, honestly. And then you need to write a long document selling an investment idea and an investment service. So you need to acquire a lot of knowledge very quickly. And yeah, I was lucky enough to work with some very smart people, some very focused, passionate, financial thinkers who were very generous with their time and their knowledge. So I went from not knowing what a stock was to be able to discuss, you know, relatively complex financial ideas; technical trading, and trends, patterns, even sort of different philosophies of, of looking at the market and how things work.

Thom (4m 40s):

And it's, as you probably know, it's kind of an infinite world and you can get fascinated on about a great number of things.

Phil (4m 46s):

Can I just ask, what is a stock? I mean, I'm just asking this because I had a listener write to me just last week, who didn't seem to know what a share or a stock was. They were actually asking me saying, well, when you buy a share, does the company just create another share and then sell it to you? And then when you want to sell it to who's going to buy it? I mean, really, beginners sometimes don't even really know what the basics are so…

Thom (5m 14s):

Yeah. There's multiple answers. My kind of bigger answer to that as I think stocks and shares a different things to different people. And I think ultimately when you invest in something, you choose to sacrifice some of your capital and the opportunity cost of sacrificing that capital. It's about an idea or a hope or a promise or a risk, you know, so there's that side of it. But then there's also, it's a unit, isn't it? It's an agreed unit, it's a contract to have a particular fractional percentage of this particular business. Those are my two answers, I suppose, but they're very different.

Phil (5m 48s):

No, that's very interesting. The first one's quite a philosophical answer really, isn't it?

Thom (5m 53s):

Yeah well, I think ultimately the world of finance and investing can be quite a philosophical place, certainly in my experience. You know, my job for a long time was about the ideas of this world. People don't wake up in the morning and think, “Oh, I'm really excited about the PE ratio on this stock X or whatever.” It's more about the story, it's about the idea and all those people out there in the last few years that have been buying Tesla shares, I would argue that is probably a very philosophical or even emotional thing that they're doing.

Phil (6m 24s):

Yeah. I mean, you hear the terms qualitative and quantitative. And quantitative means, you know, looking at the numbers and qualitative is, it's almost like the vibe of the operation, isn't it?

Thom (6m 35s):

Yeah, yeah

Phil (6m 37s):

I'm starting to get, to feel more that it is the vibe that is the important thing. The numbers are important, of course, obviously.

Thom (6m 43s):

Well, yeah, I mean, you could say that they're two sides of the same coin. I think when a market, any market for anything, property or whatever it is, is in an extreme time, extreme exuberance or extreme panic, that vibe is everything, you know? People at the top of the market will sell on emotions and so at that point maybe the numbers don't matter so much. But then there's other times and there's certainly other breeds of investors, if you will, who are all about numbers. And I mean, talk to someone like Warren Buffet, you know?

Phil (7m 17s):

That's right. We'll get to talk about Navexa and about the way that Navexa operates and the service it provides investors. But someone just starting and coming into the market, where do you think they should start to learn about their financial literacy from?

Thom (7m 30s):

That's a good question. I think at the moment it's quite scattered and I think that you can start with little to no financial literacy, to be honest. At the moment with the rise of this new breed of, sort of, app first investment platforms and low to no brokerage and micro investing and all these sorts of things anyone can get in, which is great in a lot of ways.

Phil (7m 54s):

It is fantastic, isn't it? The world has changed so much in terms of investing compared to just 20 years ago where there were so many barriers.

Thom (8m 2s):

Yeah, totally. And I really feel that that's a great thing. I also feel that it doesn't come without risks. You know, it's sort of a, if all these things are iron ramps to this great, I don't know, highway of investing, or however you want to characterize it, that's really cool. But then there's also the question of, well, you know, where are you going? And is this going to be a straight road? Or, you know, there's all these other factors, but yeah. Where do you start? Well, probably by understanding your own personal financial position and goals and investing in knowledge probably is the first thing that I would do. I didn't touch a stock until years of quite considerable exposure to that world. Because I think a lot of the people that were sharing their knowledge with me, they advised caution and patience.

Thom (8m 49s):

So yeah, you don't really need much to get going. You can buy stocks within 24 or 48 hours even if you don't have an account, you can get set up totally online. Sometimes it's totally on your phone and off you go. And the question is, where are you trying to go and why? And what are you prepared to risk and tolerate along the way.

Phil (9m 8s):

My question just popped into my mind, which we hadn't discussed beforehand, but the Australian stock exchange, as we all know, is dominated by banks and miners. What's the New Zealand stock exchange look like?

Thom (9m 21s):

That's a good question.

Phil (9m 21s):

I dunno. I just suddenly thought that I have, I've never talked about the New Zealand stock exchange.

Thom (9m 26s):

Yeah. And to be honest, in my circles at least, not many people here do. We have a large classifieds business called Trade Me, it's sort of New Zealand eBay, which for a long time was publicly traded. And that, my understanding was that that pretty much dominated the New Zealand trading scene. And then that company delisted went private again. And there's just, yeah, there's a few healthcare companies there's a few things going on.

Phil (9m 56s):

Banks, presumably banks as well?

Thom (9m 57s):

Yeah. Presumably banks, but a lot of the banks are just Australian banks.

Phil (10m 1s):

Of course. They are, aren't they?

Thom (10m 2s):

Yeah. If you want to invest in a New Zealand bank, arguably you should just invest in an Australian one. I don't personally invest in the New Zealand stock exchange so I don't have a huge amount to say about it. But just that suffice to say it hasn't been exciting enough despite living here. I'd rather risk my capital outside my country, you know?

Phil (10m 24s):

That's very patriotic of you, Thom.

Thom (10m 26s):

Well, yeah, yeah.

Phil (10m 26s):

Maybe realistic as well.

Thom (10m 28s):

Hey, I pay my taxes here. I do my best.

Phil (10m 31s):

Yeah. Okay so, with Navexa, one of the things that I've noticed that you talk about is that it's not so simple to see how your portfolio is performing once you've got one up and running. Why is that?

Thom (10m 45s):

Well, there's a lot of strands to that question.

Phil (10m 47s):

It's okay. We've got a lot of time. Okay, good.

Thom (10m 51s):

So I recently bought some shares and I did so through a platform, it's a New Zealand platform that allows you to invest in US shares, you know, it's sort of very similar to Stake in Australia I would say. So, made the investments, got my account, away I go. And then I log in and I start checking how things are going every week or a couple of weeks. And having set everything up in Navexa as well, it didn't take long for the numbers to start diverging significantly. And that's because what's happening in my, let's call it the brokerage account, is they're just showing me some nominal off the shelf numbers about, oh, you put this money in, on this date and now that's worth these.

Thom (11m 31s):

And I think for most people that seems like it's the full picture.

Phil (11m 35s):

Yeah. So it's gone up 10%, just as an example, over, you know, the three months that you've held them. Is it as basic as that?

Thom (11m 42s):

Yeah. And this is what I'm getting to. So that account tells me that things have gone up. And then when I check in my portfolio tracking account, which of course is Navexa, they've not gone up that much. In that case it's because the currency fluctuation between the New Zealand dollar and the US dollar is having a substantial impact on my investments. But that's not reflected in my trading account. So if you take that and then you add in factors like if I'd held those stocks for years, for example, so you start annualising the performance or you factor in trading fees and dividend income. And then you play that out over say I had, you know, hundreds of thousands of dollars over a long, long period.

Thom (12m 27s):

There'd just be this greater and greater divergence between the kind of basic numbers that I'm seeing in the trading account and then what I like to think of as the real numbers that I'm seeing in the portfolio tracker. And that's not to say that the trading account is somehow sort of cooking the books to make things seem better than they are, those numbers are true. It's just that they're a small piece of the picture. They're not showing me the actual impact of all the factors that are always at play on any given investment.

Phil (12m 53s):

So what are the numbers and the figures that are really important to focus on?

Thom (12m 59s):

Well one of the big ones is time. A lot of people hear about this idea of annualising performance. And I did too for a long time. And to be honest, I didn't really pay much attention because I just want to know has the thing gone up or down. But time is a huge factor in making money. If you're going to expose your capital to anything, to a stock or anything else, it's, you know, you buy a house and that house doubles in price. That's great. But if it does that in a year compared to 20 years, there's a very different journey that you've taken to get to that result. So if you present someone with those two options, do you want to double your money in 12 months or 20 years?

Thom (13m 42s):

You know, it's a no brainer. So if that's such a no brainer, why don't we see that in our portfolio performance when we're looking at? That's one of the things that we're trying to address. So you hear it referred to as annualisation but it's really just measuring the impact of time. How much time have you had to give to get this capital gain or this performance? Trading fees is another thing. Every time you make an investment you pay money for a transaction. So, you know, if you're paying $50 or $20 per transaction, and you're making hundreds of trades a year that quickly stacks up. I think, in a lot of cases, people conveniently just write that off. But over the long-term, it does have a big impact on the numbers.

Thom (14m 23s):

So it's worth knowing about, worth being honest with yourself about.

Phil (14m 28s):

Yeah. I guess it's otherwise known as "slippage" in the industry, isn't it?

Thom (14m 33s):


Phil (14m 33s):

Which is a nice way of expressing it, I think.

Thom (14m 35s):

Yeah. Or quote unquote, low friction and all these sorts of terms that get thrown around. And then like I was mentioning currency gain potentially can be a huge factor. And dividend income is a big factor as well. And this is one of the ones where I think a brokerage account would benefit by reflecting dividend income and performance. Because if you tally that up with your capital gains, it makes things, hopefully look a lot stronger. There are people who buy stocks that maybe grind sideways and don't deliver any capital gain, but hold them for long enough and the income will pay for itself. So, yeah, we're just trying to deliver a set of tools that give people the option to see all those things if they choose.

Phil (15m 21s):

So tell us about your founder, Navarre Trousselot. Is that the correct pronunciation?

Thom (15m 25s):

I hope so. Yeah, that is.

Phil (15m 27s):

Navarre Trousselot?

Thom (15m 29s):

That's how you say it. Yeah.

Phil (15m 31s):

Because he just started this off basically trying to track his own portfolio.

Thom (15m 36s):

He did, yeah. It's kind of a classic start-up story of guy in his bedroom having to build something because it couldn't find anything suitable. But Navarre's a, he's one of the most intelligent people I know, honestly. He's very good with money, he's very good with technology. I've known him for a long time. Yeah. I mean, to, just to give you an idea, he's worked his entire career running, sort of, massive software projects in Australia's corporate sector for the banks. Building these immensely complex pieces of software to do things that most people don't understand go on but every time you interact with your bank or your insurance company, there's these gigantic computational things happening in the background so... He's a massive value investor, he got into that a long time ago and like many people started worshiping at the church of Charlie Munger and Warren Buffet.

Thom (16m 22s):

The further he got in, he realised that he wanted to start tracking things. He's a, he's an obsessive tracker of everything: of money, of fitness, of, you know, everything that he does. He likes to be able to quantify things. And so he thought, "Okay, well there's all this money in the market and there's all these people investing. Of course, there's going to be a tool out there for me." Like if you're running or going to the gym, you'd use a Fitbit or whatever it is. And he couldn't really find anything. There was a couple of things around but as someone who's a software developer of his calibre, he couldn't personally justify giving money to something that he knew he could do better if he set about it himself. So yeah, it's a classic case of "if you want something done properly, do it yourself" for Navarre I think.

Phil (17m 7s):

And it must have been a whole different mindset. I mean, you know, the huge mainframe computers with enormously complex computational powers will be different to something with a lot of legacy built-in as well will be completely different to building something from scratch and being much more nimble you'd think.

Thom (17m 30s):

Yeah, I think so but I also think the calculations and the data and the programming and development side of the Navexa platform is actually really complex. As soon as you start pulling these huge amounts of data as we do from stock exchanges and having that indirect with people's personal information that they're using to treat their own portfolios. So many layers of information and variables, I actually think that, yeah, Navarre's career in the sort of corporate software developer world serves them very well running the Navexa. And in fact, I think someone without that background, we know that they do struggle to go and build something like this.

Phil (18m 10s):

Is that because you're trying to get data from a lot of these big organizations that he's worked with previously?

Thom (18m 16s):

It's not necessarily where you're getting the data from. It's just packaging everything up together. For example, if someone has a thousand stocks in a portfolio and all these things are open positions or maybe some of them are closed. And on any given day, all of those things are going up and down and they're earning dividends and maybe they're consolidating or there's mergers and acquisitions going on. To set that up so that that person can log in and load up their account on a given day of the week and all of that information is accurate and up-to-date and sort of consistent with itself and what they're seeing in the market, there's a lot of work that goes into making that happen.

Phil (18m 56s):

So tell us more about in the Navexa. Tell us about all of its functionality and what it does for investors.

Thom (19m 3s):

Well, yeah. Now we go down the rabbit hole cause it's sort of, there's where it started and where it's at now and where we're going. So one really exciting thing that we've just made available as a thing called the growth and goals page. Because we've realized that, I mean, you can own stocks and you can see yourself as an investor and everything but the reality is that everybody's trying to get somewhere. We have financial goals or we want to learn a particular thing, or we want to buy our first stock that doubles, or we want to earn X amount of income, all those sorts of things. So we've set up a part of the Navexa platform where you can create a goal. At the moment, it's a dollar amount on a given date.

Thom (19m 47s):

And then that creates a trend line. So you didn't benchmark your portfolio performance to that trend line and you can see not just, "Oh, am I up or down this week or this month or this year?", but it's like, "Am I where I need to be if I want to reach this place at this given time?" So we're sort of moving from just, I don't want to call it a standard portfolio tracking, but kind of baseline, accurate, quality portfolio performance tracking to helping people map their reference points and understand how things are going relative to their goals. Yeah. There's a bit of personalisation, I suppose, coming into it now.

Phil (20m 26s):

Yep. And at its most basic level, Navexa is tracking your portfolio, your dividends and interest payments, I presume. And I believe also crypto, tracking crypto.

Thom (20m 39s):

Yeah. Yeah. So you come in, you can track any investment on the ASX, the New York stock exchange or the NASDAQ plus any crypto. And when I say track, it's not just "Oh, I own these things and I want to see if they've gone up or down", but everything that you own down to the dollar, down to the cent provided that everything's imported accurately. You can see so many things. It's like, it's an analytics platform for your portfolio performance. And some of the tools and reports that we have are on the predictive side. So you can see not just dividends that you've been paid but what's actually scheduled to come in in the next few weeks or few months. You can run things like if you sold everything that you own today, what kind of tax obligation would that create?

Thom (21m 25s):

Yeah. It's quite a deep, complex thing.

Phil (21m 27s):

And that's a really important thing as well for any kind of portfolio is you do have to have it tracked accurately so that you're basically not giving a whole, you know, shoe box full of paperwork to your accountant who's going to charge you accordingly at the end of the year.

Thom (21m 43s):

Yeah. Yeah. It absolutely is.

Phil (21m 44s):

What are the reports that an accountant would require?

Thom (21m 48s):

There's two main ones: there's your capital gain and then there's your dividend income basically. So those are treated as two different taxation events and you need to provide a really detailed breakdown of every move that's happened in a given financial year on both those counts. So again, it depends on the complexity of a portfolio, but it can take a long time or a lot of money if you would rather outsource it to an accountant. And we've got it down to a single click, pretty much, it's automated. It is not an accountant to be clear, but it is something that you can go to your accountant and say, "This is where it's at".

Phil (22m 24s):

Because with capital gains, there's short-term and long-term gains as well and they're treated differently to. Is that taken into account?

Thom (22m 31s):

Yeah, yeah, it absolutely is. And all the franking credits

Phil (22m 36s):

Oh, franking credits are included as well?

Thom (22m 41s):

Yeah. The works.

Phil (22m 43s):

Just a little aside here. I still use Microsoft Money Sunset Edition for my portfolio tracking.

Thom (22m 47s):

I think the clue's in the name of the product, Phil.

Phil (22m 51s):

I think it was discontinued in 2006, but it still works. But I can't get the franking credits into it

Thom (22m 57s):

Yeah. No, it's time, it's time for a new dawn.

Phil (23m 2s):

I think so at some stage. Yeah.

Thom (23m 3s):


Phil (23m 4s):

Okay. So tell us a few more features of Navexa that you'd like to share with listeners.

Thom (23m 9s):

The things that I'm most excited to share about Navexa are things that we haven't launched yet.

Phil (23m 15s):

Oh, okay. Yeah. The blue sky.

Thom (23m 17s):

Yeah, in a way. Next year is looking really exciting for what we're planning to do. There's a lot of really interesting creative things you can do with data. And this is where Navarre and our development team are very talented and the way that you can show someone trends or, sort of, landmark events that they might otherwise not be aware of is really fascinating. So in the next 6 to 12 months, we're really going to reinvent the whole portfolio tracking experience for people.

Phil (23m 53s):

What sort of events are you talking about?

Thom (23m 56s):

Imagine that you load up your portfolio and your portfolio tracker and it's like, okay, your annual performance is currently X and you're looking at the past 12 months maybe. And you've got a list of all your investments and all your trades and that's all good but that's kind of baseline stuff. What you should be able to do is have a tool that serves you up on a silver platter, all the really important stuff that you need to know. For example, at the moment, there's one report that we have, which is in my opinion, one of the really fascinating ones, at the moment, it's just called portfolio contributions, which doesn't really do the power of the thing justice. But you load it up for a given timeframe and that will show you on a chart and in a table, not just what's your top performing and bottom performing stock, but what are the things that are contributing the most to your overall performance and what are the things that are dragging things down the most?

Thom (24m 51s):

Again, if you own a hundred or 200 shares, stocks rather, and you have a look, you wouldn't know that at a glance. So it's about giving people tools that are shortcuts to insights that allow them to accelerate portfolio optimization and improve their personal financial literacy. You know, going back to what we're talking about at the top of the call, the idea that, yeah, stocks are units of a company or blah, blah, blah, blah, blah. But they're also a means to participate in ideas and initiatives and business projects. A lot of people maybe get caught up in the idea rather than the numbers. And you think, "Oh yeah, I've bought a position in this really cool company and I'm convinced that they're going to go to the moon"

Thom (25m 37s):

or whatever it is, you know.

Phil (25m 39s):

Rocket emojis.

Thom (25m 40s):

Yeah exactly. So maybe you become attached to this idea and you sell yourself on this idea. But you need to have that other side of the coin. So maybe you look at your portfolio contributions and you go, "Oh okay, that was a great idea and I still kind of like it. But it turns out over the last 12 months or 6 months, that thing has actually dragged my portfolio down more than anything else I own. So maybe I need to go back and think about this again."

Phil (26m 3s):

Sometimes I think people just like to tell a story at a barbecue about something that they've bought rather than, like you say, checking out what's actually happening.

Thom (26m 11s):

Absolutely. I mean, there's that cliché, isn't there? When your taxi driver starts telling you about a stock, it's time to sell the thing. But yeah, to get back to your question, there's a lot of stuff already that we do that is about giving people shortcuts to those insights that maybe, give them another perspective or caused them to question their convictions. Not in a, "Oh, we told you so" kind of way, but it's just like, don't fool yourself, you know? Or don't be fooled by what the market is telling you or what other people are telling you, whatever. It all needs to be in the data.

Phil (26m 44s):

And I didn't say this at the beginning, but Navexa's a very, very new company. What, it's only about a year old. Is that right?

Thom (26m 54s):

Yeah. Well, Navarre started working on it in 2017. And we started talking about it a little bit shortly afterwards. And then in 2019, I made the decision to get properly involved. Again, like going back to your question about being a financial copywriter and communicator, one of the things that I learned when I was working at Agora is the easiest way to sell something is to have a great product. And after doing this for so long, I'd like to think that I can spot good products when they come along. So when Navarre started sharing his ideas about Navexa with me, I was like, "This is very, very great. In my opinion, there's a lot of potential."

Phil (27m 34s):

You've got a lot of data, obviously, so what are some of the insights that you're seeing from your investors? Which is presumably totally anonymised data by the way.

Thom (27m 43s):

Oh, absolutely. Yeah, yeah. Not presumably, but a hundred percent. Everything is secure and anonymised and we'd, we're not in the business of sharing that with anyone. But we do see trends and the more and more people that join Navexa, the more interesting that becomes. So for the first time, I sent out a newsletter last month and I thought, "Let's just have a look at what the most tracked stuff was in the last month. It just would be fascinating." And although we're an Australian based portfolio tracking start-up, nothing on the ASX came close. It was, it was all crypto and NASDAQ.

Thom (28m 23s):

Well actually I should walk that back. It was an Australian traded NASDAQ ETF

Phil (28m 28s):

Right, yeah, yep.

Thom (28m 28s):

Was the most track stock that month. There was a couple of cryptos, I think, three cryptos that were tracked more often than that, but that's not to say that they were more popular, that's just to say perhaps people were making more trades so there was more tracking information coming through on our side. Yeah. But I think US tech stocks are a pretty hot thing for people in Australia right now.

Phil (28m 50s):

Well, they capture all the news and all the attention and really there seems to be so much growth into the future.

Thom (28m 58s):

Yeah. Well, I mean, that's where Elon's at, isn't it?

Phil (29m 2s):

That's right. So tell us about Navexa and how we can find out any more.

Thom (29m 7s):

It's really straightforward. We're online all the time and your accountant's waiting for you basically. So it's free to sign up. You can trial the thing for two weeks. You can load your portfolio in really quickly. We have a bunch of, sort of, custom portfolio upload tools that we've developed so that if you're with COMSEC, for example, or NAB. It's in theory, very straightforward to upload your entire portfolio of historical trades. It's also very easy to connect up your account so you don't have to manually update new trades. So once you've onboarded, you've got your stuff in, you've set up your account and everything's to your liking, you're tracking.

Thom (29m 47s):

And your tax reporting and that stuff I was mentioning earlier, like portfolio contributions, insights and mapping your personal financial goals, all that stuff is happening. And you're away. So you can join it on our website. You can find us in various places, you know, there's links all over the internet now. So yeah.

Phil (30m 2s):

Okay. Well, we'll put those links in the show notes and the episode blog posts but, Thom Benny, thank you very much for joining me today.

Thom (30m 11s):

Absolute pleasure. Thanks very much.

Shares for Beginners is for information and educational purposes only. It isn’t financial advice, and you shouldn’t buy or sell any investments based on what you’ve heard here. Any opinion or commentary is the view of the speaker only not Shares for Beginners. This podcast doesn’t replace professional advice regarding your personal financial needs, circumstances or current situation