Inventory market session from November 2025 during which Adrián Godás and Paco Lodeiro reply listeners' questions.
This month's basic questions are about establishing an funding car, AutoFX at Interactive Brokers, sodium batteries, going into debt in yen to put money into Japanese corporations, analyzing the sustainability of dividends, Looking for Alpha analysts and about implementing a second mind.
And the doubts about corporations and sectors are about Judges Scientific, Regeneron and Vertex, Hermes and investing in luxurious, Duolingo, Constellation Software program and copper, Fenix Sources, Tinybuild and Take-Two and about District Metals.
Inventory Market Consultancy – November 2025
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How one can ship inquiries
You may ship your questions by the contact kind.
Basic doubts
About establishing an funding car
I’ve been a listener to your podcast for 2/three years. Congratulations on the venture, each time I see you concerned in additional issues, I'm glad for you.
On a number of events you might have talked about the choice of shifting your investments to a SIL or related. I suggest that you just speak concerning the topic by breaking down every part you understand concerning the topic: paperwork, necessities and obligations, prices, from what number of hundreds of thousands it may be price, based mostly on what anticipated returns, what sort of property can come to play there, get it out if you happen to want it (extraordinary or recurrent)…
In any case, thanks very a lot in your steady and fulfilling contributions.
A powerful greeting from one other entrepreneur (former official, absolute reverse hahaha), investor, father and Spaniard who doesn’t throw within the towel on this (regardless of) our beloved world.
(Gonzalo from Madrid)
About AutoFX at Interactive Brokers
Howdy Paco and Adrián,
I’m Iván, a Madrid native residing in Barcelona and an investor in Pharmas and biotechs, since it’s my circle of competence.
I lately transferred euros to my IB account, modified them to USDs, and once I went to purchase a inventory ($PALI), IB used autoFX (promoting EUR, shopping for USD after which shopping for the inventory), as a substitute of immediately utilizing the USD from my account.
Is there a approach to remove that IB autoFX that additionally will increase commissions? I don't know if you happen to ought to wait a day with USD within the account earlier than shopping for shares. I've learn on boards that it's been happening for a couple of yr.
Greetings, and let's see if you happen to do a podcast with a pharma/biotech theme.
(Iván Castela, Madrid native from Barcelona)
About sodium batteries
Hear concerning the doable competitors that would happen between lithium batteries and others which are rising, that are sodium batteries. Relying on what you hear, for the reason that latter are product of salt, they might overthrow the supremacy that the 1sts have. If it have been doable, I would really like a program devoted to speaking about this new worth, the place the analysis goes and every part associated to it, since they’re at all times on the forefront of data and know the place, how and what to search for. Which we admire for being such wonderful curators of data.
(Rafael Ochoa)
On borrowing in yen to put money into Japanese corporations
Good morning Paco and Adrian, I'm José Carlos, from Córdoba (ESP).
I ship you a query for the inventory market workplace.
I needed to ask your opinion on the technique of imitating, on the retail stage, Grandpa Buffet. I’m referring to going into debt in Yen (presently in Interactive the destructive balances on this foreign money are charged at 1.89%), to purchase corporations on the Tokyo Inventory Alternate with these yen. I’ve discovered a number of that pay a dividend yield of over 4% in a rising and completely sustainable method, wholesome and with rising earnings per share.
I imagine that with this technique there is no such thing as a trade charge threat since you purchase shares in the identical foreign money during which you borrow.
It could be to do it with a small share of the portfolio.
What do you assume? Is there any threat that I'm lacking?
Thanks very a lot in your consideration and sustain the great work. By the way in which, my favourite applications are the inventory market consultations.
(José Carlos from Córdoba, Spain)
On analyzing the sustainability of dividends
Good afternoon, Paco and Adrián. I’m José Carlos, from Córdoba (ESP). That is the second query I ship you for this month's inventory market session:
To verify that the dividend paid by a inventory is sustainable in the long run and being conservative, is it higher to have a look at whether or not the corporate, to pay it, is producing sufficient revenue per share or is it higher to have a look at whether or not it’s producing sufficient free money circulate?
Thanks very a lot in your response.
(José Carlos from Córdoba, Spain)
About Looking for Alpha Analysts
Howdy, I'm Pablo from Pontevedra, I’ve lately subscribed to Looking for Alpha. In the mean time I don't comply with many analysts. For instance, I fairly like Taylor Dart's evaluation, I suppose Adrián is aware of him, since he analyzes the mining sector. I’d be thinking about different analysts, whether or not they’re worth analysts or every other topic, so long as they’re of high quality. Any suggestions?
(Pablo from Pontevedra)
About implementing a second mind
Howdy Paco
I'm Antonio from Philadelphia, USA. I appear to keep in mind that in some unspecified time in the future you mentioned that you just have been finding out Tiago Forte's “Second Mind” system. Did you resolve to implement it? Might you briefly clarify your productiveness techniques?
Thanks very a lot and congratulations in your incredible podcast!
(Antonio Cerqueira from Filadelfia, USA)
Questions on corporations and sectors
Sobre Judges Scientific
Howdy Paco and Adrián, thanks for the podcast.
What do you consider Judges Scientific at £60 per share? Evidently in latest weeks there have been some insider purchases, the final one reported by the corporate was from a board member and her entourage, Lushani Kodituwakku, investing round 100,000 kilos within the firm. Is that this testimonial or related to you?
(Miguel Ramos from Munich)
About Regeneron and Vertex
I'm a giant fan of the podcast… I prefer to hearken to you on Mondays.
Though I do know you aren’t a fan of this sector, I feel that in the intervening time based mostly on evaluations I discover it a candidate for Worth
Between these two corporations that appeal to me and with a horizon of seven to 10 years, how do you see them from a Worth standpoint?
Regeneron: Cheaper apparently by multiples, low PER, upside if the pipeline works (extra medical threat)
Vertex: Extra high quality a priori, it appears to have secure moat and decrease medical threat
Effectively I want to know your opinion
(Pablo from San Sebastian)
About Hermes and investing in luxurious
What’s your opinion of the luxurious sector usually? I learn an article that thought that as there are increasingly more wealthy folks, the unique product stops being so unique as there are such a lot of new wealthy individuals who can afford it.
I actually like Hermès and I feel it’s a good model to place itself within the sector.
Alternatively, I carry you a advice that you could be already know: the Acquired podcast. It’s a podcast during which firm tales are informed in very element and analyzed. The reality is that the extent of depth and element is unimaginable.
(Pere from Girona)
About Duolingo
In one of many earlier applications at the moment you talked about Duolingo and the use you product of that app with some language, and many others. What do you consider Duolingo as an funding? After publishing the most recent outcomes, it corrected 26%… Might it’s a superb time to enter? AI can negatively have an effect on its evolution
(Javier Moneo Mejías from Tudela, Navarra)
About Constellation Software program and copper
Howdy, Paco (or his crew or his AI hehe)
I’ve a query for the session of the month: Are you continue to bullish on Constelation Software program? They’re additionally punishing her for the emergence of the AI (Gandalf apart), however she might additionally use it to her benefit, proper?
And one other for Adri: good time for copper?
Thanks for every part and greetings, cracks!
(Fer Cantero)
About Fenix Sources
How do you see Fénix Sources (Australian), after the falls, I think about that Adrián can have it below management.
(David Llorente)
Sobre Tinybuild y Take-Two
I’m writing to you as soon as once more with a query for the session of the month. To start with, I want to know if you happen to might, Paco, give us an replace on Tiny Construct and in case your thesis stays the identical. I additionally needed to know your opinion, since you might be finding out the sector, of the corporate Take-Two that owns the GTA franchise in view of the following launch of GTA6.
(Carlos Suárez, Asturian from Barcelona)
Sobre District Metals
If it's not an excessive amount of of a stretch, I’d additionally prefer to know Adrián's opinion on the present scenario of District Metals and what you assume the following catalysts could also be, since I feel that it could nonetheless take a very long time for the outcomes of the PEA.
(Carlos Suárez, Asturian from Barcelona)
Thanks very a lot for the session on “worthwhile, however dangerous” concepts from a couple of months in the past, it’s truly each issues 🙂 A query for Adrián might be:
Evidently the few doubts that there have been concerning the regulation of uranium mining in Sweden are now not even doubts. Though District Metals has risen fairly strongly, it nonetheless seems that the marketcap as of the date of e mail doesn’t even remotely correspond to the worth of the property or moderately foreseeable future money flows. Am I lacking one thing?
Thanks a lot
(Cesar from UK)
