.png)
Investopoly
Investopoly is a twice-weekly podcast designed to help you make better financial decisions and build wealth with clarity and confidence. Hosted by Stuart (tax adviser, financial adviser, and mortgage broker) and Campbell (senior financial adviser), each episode delivers concise, practical insights grounded in real-world strategy, research, methodologies, and case studies.
You will get two episodes each week: a main episode that deep-dives into a single wealth-building topic, and a Q&A episode that answers listener questions and real scenarios. Send your questions to questions@investopoly.com.au
We also writes a weekly blog, and many podcast topics build on those ideas and frameworks. Stuart's forthcoming book, Wealth by Design, will be available in July 2026.
Investopoly
Ep 396: The AI trade – what can we learn from the dot-com bubble?
Use Left/Right to seek, Home/End to jump to start or end. Hold shift to jump forward or backward.
AI has moved from buzzword to investment obsession almost overnight. From semiconductors and data centres to software platforms and critical minerals, “the AI trade” has become shorthand for backing the companies expected to benefit most from this technological shift.
But before assuming today’s obvious winners will still look obvious in a decade, it’s worth revisiting the last time a world-changing technology captivated markets.
In this episode, Stuart unpacks what really happened during the dot-com bubble and where investors went wrong. The internet thesis was correct. The valuations were not. Many of the most celebrated companies of 2000 ultimately destroyed long-term shareholder value, despite the technology itself reshaping the world; only a handful adapted and endured.
He explores the parallels with AI today: sky-high expectations, capital flooding into perceived winners, and the growing belief that “this time is different.” We also examine why many of the true long-term winners may not yet exist, and why broad market exposure may already capture much of AI’s eventual impact.
Most importantly, Stuart explains why you don’t need to predict the winners to benefit. History suggests that trying to identify and then time the next dominant technology companies is far harder than it looks. Instead, a rules-based, diversified approach allows markets to sort winners from losers over time.
AI may well be the most significant technological advancement of our generation. But that doesn’t mean your investment strategy needs to change.
Our most popular free guides:
Over the years we've written hundreds of articles. These three bring our best thinking together on the topics that matter most right now: choosing a super fund, debt recycling, and navigating the new tax changes.
My new book, Wealth by Design, is out now:
Buy online or in bookstores. The ebook is available now, audiobook coming soon.
Got a question for the podcast?
Email us at questions@investopoly.com.au
Interested in working with our team?
Discover how we can work together
Subscribe to my weekly blog:
Important
This podcast provides general information about finance, tax and credit. It doesn't take into account your specific objectives, financial situation or needs, so you need to assess whether it's relevant to your circumstances before acting on it. If you're not sure, speak to a licensed, trustworthy professional.
Podcasts we love
Check out these other fine podcasts recommended by us, not an algorithm.
