the call: Monday 18 October

Both analysts favor thermal coal (New Hope) and large hyperscalers/GQG over richly-valued mining-services and ag stocks amid an AI-driven tech sell-off.

• New Hope/Malabar deal: Double buy as New Hope takes 100% of Malabar Resources via scrip (0.5 NHC per MAL share, $1.8bn fully diluted, 5.2bt resource); Luke calls management 'the best listed ASX CEO'.
• 4DMedical split: Kai buys on US Philips order and VA congressional bill mandate; Luke sells, calling the valuation 'comically high' after FY revenue miss.

Themes, sentiment and reasons are AI-written paraphrases, checked so they never quote an episode. They may contain errors. Not investment advice. Episodes remain the property of their creators.