October 16, 2025 • 28 mins
At just 20 years old, Jack Trengove made history as the youngest-ever captain in the AFL! Leading Melbourne Football Club with maturity beyond his years. After nearly a decade in professional sport, Jack made the bold move to pivot his career, trading the footy field for the finance world. Now an Equities Analyst at Lanyon Asset Management, he brings the same discipline, focus, and drive that once defined his playing career to the world of investing.
In this episode of Finance Friends Jack reflects on the highs and lows of elite sport. From leadership lessons and mental resilience to navigating injury setbacks and career transitions. He shares how those experiences shaped his approach to markets, risk, and long-term thinking, offering rare insight into how the mindset of an athlete can translate seamlessly into success in finance.
We also dive into what life looks like after professional sport, the importance of building identity beyond your first career, and Jack’s advice for young people figuring out their own path. Honest, grounded, and deeply reflective, this conversation is a reminder that reinvention is possible at any stage and that the qualities that make you great in one field can propel you just as far in another.
Follow Jack Trengove on LinkedIn: https://www.linkedin.com/in/jack-trengove-6b602763/
Visit the Lanyon Asset Management website: https://lanyon.com.au/
Enjoyed the episode? Follow Finance Friends Podcast on Instagram, LinkedIn and TikTok for daily updates and more inspiring conversations. Got questions or ideas for future episodes? Send us a DM @financefriendspodcast!
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
SPEAKER_02 (00:54):
Today on the Finance Friends podcast, we're excited
to welcome someone whosehistorically reflects both the
client and challenges ofprofessional sport.
Jack Trengrove.
He talks about resilience andbuilding a career beyond sport.
He was drafted as number twopick in the 2009 AFL draft to
(01:14):
the Melbourne Demons, where hequickly made his mark.
And at the age of 20, that'sright, 20, became one of the
youngest AFL captain in AFLhistory.
Unfortunately, his career washampered with injuries, although
this was a bit of a light bulbmoment, an opportunity for Jack
(01:35):
to reflect and realise that heneeds to think about what's
beyond football because he mightnot play 300 games.
So he studied commerce and nowhe works as an equity analyst at
Lanyan Asset Management.
He shares his story aboutdiscipline, leadership, and
resilience.
This is a must-listen toepisode.
(01:59):
Good afternoon, Jack.
Thanks for having me.
Welcome to the Fine Strengthspodcast.
It's nice to be in Adelaide.
Haven't been to Adelaide to do apodcast before, so so welcome.
How's your day been?
SPEAKER_01 (02:10):
It's been great.
Adelaide's put it on for youguys, so hopefully you enjoy
your time here.
SPEAKER_02 (02:17):
Yeah, it's well, other than the uh mishap of
trying to get the recordingstudio set up, but we've had a
good chat for the last 40minutes.
That is good.
Um let's do it again.
So uh tell us a little bit aboutwhat you do now.
SPEAKER_01 (02:31):
Yeah, sure.
So um I am an analyst at LanyanAsset Management.
So uh Lanyan is a long-onlyvalue-oriented equity fund
manager.
Um we're based here in Adelaide,but we've got a an office in
Sydney as well.
Um my boss Dave Prescott foundedthe business uh 15 years ago.
(02:51):
Um, and we run money forinstitutional clients, family
offices, and a number of privateinvestors.
Um when I say we'revalue-oriented, we I guess if I
tell you about what the averageday for me looks like, it's
literally trolling throughfinancial reports, meeting with
executive teams and trying to, Iguess, uncover an undervalued
(03:14):
company listed here in Australiaor globally, um, one that we
think is a presents a goodinvestment opportunity and
hopefully we can make some moneyout of it for our clients.
SPEAKER_02 (03:23):
Yeah.
So how do you determine what ismarket value and what's
undervalued versus overvalued?
SPEAKER_01 (03:29):
Yeah, that's a a brilliant question.
Um so I guess there's lots ofdifferent ways that people
invest.
Um we're probably old school,what you call value investors,
as I said.
So, you know, we find a companyand we determine what the value
of that company is or what webelieve it is worth, and then
obviously we try to buy it whenit's at a discount of that
value, and then if it realizesthe value, then we'll sell it.
(03:52):
Um how to determine what thatvalue is.
There's lots of different waysto do it, but um, we try to
predict what the future cashflows of that business will be
and then discount them back totoday's price, and then you can
determine what a value is.
There's also different ways,like you can use um certain
multiples of earnings that umpotentially there's been a
(04:13):
transaction recently of a peerof that company or something in
similar in that industry, andthen you can sort of use that
multiple and compare it againstthe one that you're looking at
and see if there's differences afew different ways, but we think
that's the safest and best wayto generate strong returns
through um whatever cycle we'regoing through over a long period
(04:33):
of time.
SPEAKER_02 (04:34):
And you've been able to like the proof is in the
pudding because the results ofthe fund have been exceptional.
How long's the fund been runningfor and how long have you been
at the business for?
SPEAKER_01 (04:44):
Yeah, so this fund's been running since 2019.
Um I started at Lanyan in 2019,and um, yeah, thankfully we've
had some pretty strong returns.
Um, the returns look verydifferent to what market returns
look like.
So, you know, we run a prettyconcentrated portfolio, so 15 to
20 stocks.
(05:04):
Um, there's really noconstraints.
So we can invest in companieslisted overseas, locally,
various sizes, from the largestcap companies to very small cap
across all sorts of industries.
Um, and we love thatflexibility.
And yeah, over the course of thewhat is it, six years now, we've
(05:24):
been able to deliver returnsthat are above market returns
and um you know keep our clientshappy and hopefully that uh
continues.
SPEAKER_02 (05:33):
Yeah, and what do you most enjoy about your
current job?
SPEAKER_01 (05:36):
Yeah, that's another really good question.
I think the thing that I like isthat no day's ever the same.
So I'm a pretty curious type ofperson and love learning and
developing.
Um and we have the privilege ofsitting down with some of the
best executive teams inAustralia and trying to decipher
through their company andunderstand um the business and
(05:57):
what factors are at play andwhat the business is going to
look like in three to fiveyears' time.
Um so that element I really likelearning.
And, you know, we could belooking at a an iron ore miner
based out of the Pilbara oneday, and then the next day we're
looking at a little uniqueindustrial company um with a
really small market cap basedout of Sydney, out in the outer
(06:18):
suburbs.
So, you know, they're verydifferent, and no day, as I
said, is ever the same.
And I really like that um thatchange up because it's not
mundane in in any way.
SPEAKER_02 (06:27):
I'd imagine you'd be continuously learning all the
time about industry, about youknow, leadership strategy.
SPEAKER_01 (06:34):
Oh, definitely.
Um and I that's the bit that Ilove most.
You meet some really uniquepeople that have had incredible
experiences.
You know, my boss has been inthe industry his whole life, um,
and he's still learning everyday as well.
So there never is a point whereyou reach where you think I'm
there.
Um one of the unique thingsabout the industry, it's the
most humbling industry ever.
(06:54):
Yeah.
You feel like you're gettingsomewhere and then you peg back
down because something that youforecast went completely wrong.
Um so it's it's great in thatway.
And um, yeah, I feel like theday you stop wanting to learn is
the day you you should be done.
SPEAKER_02 (07:09):
Yeah.
Well it's quite interestingbecause you don't actually have
to get all your calls right.
You just got to get more than50% right, especially when
you're highly concentrated, andyou should be be able to
outperform the market quitequite easily.
SPEAKER_01 (07:21):
Yeah, definitely.
And don't worry, we get so manywrong.
Um but as you say, if you getthe majority right, then over
time that should um generatestrong returns.
And um thankfully so far we'vehad more right than wrong.
Um, but you're only as good asyour most recent performance,
and that doesn't determine whatyou're going to do in the future
either.
(07:41):
So um it it keeps you on yourtoes.
SPEAKER_02 (07:44):
That's right.
Um and so you've been doing thisfor six years, and did you
finish football and go straightinto this?
Or was there a transition periodbetween finishing football at
Port Adelaide and and startingthis role?
SPEAKER_01 (07:59):
Yeah, so if I go back all the way back, um, you
know, my journey, I've been youknow, my career itself in the
AFL, it didn't reach anyspectacular heights.
Um, but what I am, I'mabsolutely grateful for the
opportunity to play within theAFL system.
It was a childhood dream, andI'm one of the lucky ones that
got to, you know, live that out.
(08:20):
Um so I got drafted to theMelbourne Footy Club back at the
end of 2009, um, hung aroundthere for eight years and went
through all sorts of um ups anddowns, which we can touch on in
time, um, like any AFLfootballer, and then got the
opportunity to come back to PortAdelaide.
And throughout those ups anddowns, I had a few injuries um
(08:41):
and was always keen on mystudies through school.
I think mum and dad reallydrilled into me from the outset
that you've got to have balancein life, and I'm a big advocate
for that.
Um certainly didn't have all myeggs in the one basket.
SPEAKER_02 (08:53):
And so just touch it, how important is that,
especially when you're goingthrough your you know, your
football career, you had a lotof injuries that were pretty
challenging injuries, from myunderstanding.
How important is that balance toget you through that challenging
time?
SPEAKER_01 (09:06):
Yeah, it's critical.
And if I could give any adviceto not only footballers but
anyone in life, it's just tohave that balance because you
know, we can think about I'vegot plenty of examples of past
teammates, current players whohave gone through this
transition period.
Um and I I personally view it asbeing the biggest issue um
(09:29):
facing athletes at the moment,and one that no one's ever
really nailed, because um, youknow, you go from being you know
full on in everything, givingyour whole life to a particular
sport or um a certain goal, andthen that can be ripped up very
quickly because the industry'sincredibly ruthless.
(09:50):
Um, one injury, you know, somepoor performance, one coach that
doesn't think you're any goodanymore, and suddenly you're out
of a job.
And if you've committed yourwhole life to that and you
realize one day you're out of ajob, then suddenly you're you
know behind the eight ball andyou know, in a challenging
period trying to figure out whatyou're gonna do because um using
AFL as an example, I think theuh average career length's like
(10:13):
four years, so it's not verylong.
And if you've committed a lot oftime and energy to that, get to
the end of it, you're suddenly,you know, 22, 23 years old and
have no education.
And um, so for me personally,um, if I think about my example,
is that I studied straight awaywhen I got into the system and
um the injuries that I had wereprobably a blessing to a degree
(10:34):
because it made me really thinkabout what life's going to look
like after football, because Ihad a surgeon one day tell me
that you may never run again,let alone play footy, and that
was at the age of 21.
So it was um you know, prettyconfronting at the time, but I
call it a blessing, and I'm sothankful for it because it meant
that I did get thinking aboutwhat that next um I guess career
(10:58):
was going to look like.
So I was lucky enough to hangaround, as I said, for another
eight years after that.
But the day that I finishedfooty, I walked into the job at
Lanyan.
So um when you talk about thattransition period, I was
extremely fortunate that itwasn't it was quite a smooth
transition for me.
SPEAKER_02 (11:15):
So did you s was that the the light bulb moment
where you thought I need tostudy, or were you studying
prior to that you know, surgeand saying you might not ever do
that again?
SPEAKER_01 (11:25):
No, I was studying, um, but you know, there's
studying and then there'sstudying.
It was sort of ticking along inthe background.
I picked up a commerce degree assoon as I got drafted because as
I said, I worked really hard atschool to get the best scores
possible.
Um so I wanted to utilize that.
But the commerce degree wascertainly on the back burner and
I was just ticking along and umjust scraping by and then this
(11:45):
injury where I was like, farout, if I don't have a job next
year, what am I doing?
It took me on a really uniquejourney where I started, you
know, making the most of whatstrong networks are within
football clubs, um, particularlythe Melbourne Football Club, met
some incredibly successfulbusiness people and tried to
figure out exactly where Iwanted to take my career, um, if
(12:07):
footy was to f to finish or whenit was inevitably going to
finish.
Um, and that led me down, youknow, an incredible path of
meeting unique people doing allsorts of different things.
Um and at that point I sort ofcould understand exactly what I
wanted to do, and then reallystarted working towards that.
So I actually finished my unitdegree while I was playing,
(12:30):
yeah, and then um got theopportunity to do some work
experience.
SPEAKER_02 (12:33):
Uh one of them and I was gonna say, what did that
involve?
SPEAKER_01 (12:36):
Yeah, so um initially it was like some
financial advice when I was inMelbourne and realized that
while I enjoyed it, I didn'tthink it was something that I
really wanted to pursue.
So if anything, it put a linethrough that.
And then when I moved back toAdelaide, I got introduced to
Dave Prescott, who I've alludedto, he's the founder of Lanyan,
(12:57):
and we hit it off from thestart.
You know, I think our valueswere very aligned.
Um, I loved his passion.
Um, I think he's a bit of awizard when it comes to
investing.
Um, and he offered me the chanceto come sit on his shoulder on
my day off uh that we got eachweek.
So I did that for the two yearsI was at Port, and then I was at
(13:18):
a point where I probably couldhave tried to keep playing footy
if I wanted to, but then I waslike, I'm 28 years old, I know
what I want to do next.
I've got a job there sitting andwaiting for me.
I'm ready to just jump into it.
SPEAKER_02 (13:32):
So you're clearly content with your football
career today or content enoughand more looking forward to your
your next career?
SPEAKER_01 (13:38):
I think that's probably the one.
Are you ever content?
I don't know, uh, with a footycareer.
Um I think I I knew that I triedeverything I could at that
point.
And um, yeah, my career lookedvery like the f the first three
years of my career, I wasplaying a lot of games and
getting lots of opportunitiesand was named the captain of the
Melbourne Footy Club as a20-year-old, which was um an
(14:01):
experience in itself.
Um and then injuries came alongand it sort of derailed the
trajectory that I was on, whichis fine.
That's um but I guess I hadoptimism to play for a long time
and be a successful footballer,and then the injuries sort of
challenged me a lot through thatperiod.
So um yeah, when I got to theend, when I was 28, I was sort
(14:25):
of like, I I know exactly what Iwant to do next.
Am I just delaying theinevitable, or should I launch
into it and really try to make acareer?
Um, I met, as I said, I've metsome incredible people along the
journey, but one person inparticular, John Hills, who
you'd know as the um, you know,well-regarded wallabies captain.
Yeah, he I sat down with him afew times, but he said to me,
(14:46):
Jack, you're not retiring fromfooty, you're actually starting
a whole new career.
And it's just a slight littleshift in your mindset.
SPEAKER_02 (14:53):
Gren Hackett talks about that as well.
SPEAKER_01 (14:55):
It's like it's it's a slightest little shift, but
it's like you're not finishingsomething that you've you know
worked your whole life to do.
It's actually you're should beexcited about the next career
you're about to embark on.
And I took that approach and umyeah, literally haven't looked
back since.
SPEAKER_02 (15:11):
Yeah, well, I think John Eles will listen to the
podcast because um we had LukeJones on the podcast, and
actually Luke used to play forthe wallabies, and uh Johnny's
is is one of his mentors.
So uh Luke was saying that uhJohn Eles has listened to the
podcast.
So I'm sure all the otherslisten to your podcast too.
So they'll give him a shout outif he's listening.
(15:33):
Uh well that's I think that'sreally important and that
mindset.
Um and I think would you say alot of sports professionals that
you know do finish their careerin sport really struggle to look
forward and maybe too busylooking a little bit backwards?
SPEAKER_01 (15:47):
Definitely.
And whether it's the um they'renot content with what they
achieved through their career orthey're unsure as to what they
want to do next, there's lots ofdifferent reasons.
But the biggest thing that I seewith athletes transitioning is
they're a bit lost for a periodof time, which is normal.
You go from, you know, if you'vehad a 10 to 15 year career,
(16:08):
you're told literally where tobe, what to do at every moment
of the day.
You're told what to eat, youknow, how fit you should be.
When you can drink, when youcan't drink.
Exactly.
So you can go out, you can't goout.
Exactly.
So um, you know, that's justremoved and suddenly you're left
to your own devices.
It's a unique situation to bein.
And some people haven't been inthat situation since they were
(16:30):
18, but that's coming out of aschool system where you're sort
of told similar.
Um so I see a lot of peoplestruggle through that, and um,
that's why I encourage a lot ofyoung athletes or athletes of
any age to figure out what theirpassions are away from the game
and try to start pursuing as towhat that might look like in the
event that your career's done.
(16:50):
The earlier you can do that, thebetter off you'll be.
And you may still take years tofigure that out, and you may not
figure that out, but at leastyou've started that journey.
SPEAKER_00 (16:58):
Yeah.
SPEAKER_01 (16:59):
And when the inevitable day comes that your
career's over, you're betterpositioned to actually make a
decision.
SPEAKER_02 (17:05):
Yeah, that's correct.
And also the good thing is thatyou, as a professional sports
person, you get access to somany brilliant minds that
obviously want to talk to youabout your sport.
Yeah.
So how do you reverse that?
Because people want to talk toyou about you know the Melbourne
Football Club being the captainand whatnot, and but you want to
your mindset needs to be, I wantto learn from you as well.
(17:27):
So a lot of what we've seen inAndy Gallers, who's uh um was on
uh podcast a few weeks ago, hespeaks about that and trying to
tell the Hawthorne footyplayers.
Yeah, you know, when we getthese people that are very
successful, that are sponsors,you know, try and pick their
brains about what they do, howthey became successful, build
relationships that will help youout, you know, beyond sport.
SPEAKER_01 (17:49):
Definitely.
I um I couldn't be a biggeradvocate for that again.
Um and it's shifting thatconversation.
So, as you say, if you've got abit of a um identity as a a
footballer or as an athlete,people are interested in you and
what you're doing, which iswhich is great.
Um but I think a lot of playerscan fall into the trap of going
(18:10):
to these functions and having tosit next to corporate supporters
or whoever it is and just think,oh no, here's another situation.
I'd rather be home, relaxing orrehabilitating an injury or
whatever it is.
But it's like, no, see that asan opportunity to go meet
somebody, be a bit curious, askquestions about what they're
doing, because yeah, it'samazing how often that it comes
(18:31):
full circle.
Like the people I spoke about abit about the journey that I
went on, and I literally my dayoff for a while there was
catching up for coffees.
I would have had three or fourcoffees in the day just meeting
new people, and I tried to gointo those conversations really
keen to understand exactly whatthey do and why they do what
they do.
And, you know, more often thannot, people are are quite happy
(18:54):
to talk about themselves andwhat they've done, particularly
if they've been successful init.
Definitely.
So just you know, lean into thata bit and and and get some more
out of it.
And then um, you know, becausethe other thing I would say is
that door does close.
So suddenly you're the athletethat's competing every weekend,
uh now you're three years out ofthe game, not completely
(19:16):
forgotten, but largelyforgotten, and that door might
not be open anymore.
So capitalise on the situationthat you're in.
And it's not taking advantage ofit.
Um be authentic, be genuine inthe way that you go about it.
SPEAKER_02 (19:28):
But just take your opportunities.
Take your opportunities, yeah.
Yeah.
Because you know, it's not oftenyou get to sit at a table that
you know, maybe that runssomeone that runs a successful
business or the CEO of a listedcompany or someone that runs an
investment firm that you know iswilling to take you on one day a
week to to shadow and and tolearn.
SPEAKER_01 (19:48):
Yeah, if you don't ask that question, you'll never
find out.
And a lot of my great friendsare, you know, ex-presidents of
football clubs, board members,who I catch up with regularly
now, and they're friends thatI'm going to have for life on
the back of just um, I guess,having the curiosity to ask a
question.
SPEAKER_02 (20:05):
Yeah.
I want to touch on, go back tobeing the youngest ever AFL
captain.
Is that right?
Yeah, I think that still stands.
Yeah.
Because I know at 20 I was auniversity student and I was
lucky to make it to class andalone captain a professional
sports team that's in the publiceye.
Can you talk through thatjourney and and what your
(20:25):
biggest learnings from that wordthat have helped you in your
career at the moment as aninvestment analyst?
SPEAKER_01 (20:31):
For sure.
Um yeah, I I completely agreewith you.
I would never have thought thatas a 20-year-old I'd be
captaining the or co-captainingthe oldest AFL footy club in the
land.
Um, but it was an absoluteprivilege and honour to be in
that position.
Um, how it came about, I wasn'toutwardly looking to become a
(20:52):
captain.
I think when you're younger, youget pushed into leadership
positions because you'reprobably one of the best players
in the team.
Whereas as you get older, it'sactually for purpose.
Um, and I think I was selectedby my peers just from the
actions that I was displaying onthe training track.
Um and yeah, that took me on aan incredible journey and one
(21:12):
that I'm very grateful foragain.
Um you know, it had its ups anddowns, certainly lots of
challenges.
Um, but I think the keylearnings that I took away from
that experience was um, youknow, leadership in itself and
what that looks like.
I think if I have one regret isthat, you know, I was selected
as a co-captain and I probablytried to be too much to too many
(21:34):
at that period of time andneglected myself.
Um so I've had any advice foryoung leaders or leaders in
general, is like, yes, you wantto be selfless and help everyone
out, but your most importantrole is probably to take care of
yourself first, lead by example,and that's what brings everyone
along for the journey.
And then on top of that, if youhave spare time, obviously help
help out others, be empatheticand try to develop them.
(21:58):
But the best way you can lead isto really um drive it yourself
and make sure that you're goingin the right direction because
you're no good to the team ifyou're helping everyone else,
but not actually deliveringyourself.
Um, so that was a key learning,and then just the skills of
communication, um you know,delivering direct feedback.
Um you suddenly as a20-year-old, you're sitting in
(22:19):
front of press conferences andum dealing with key
stakeholders, um delivering apre-game address, you know, all
those little things that youdevelop these communication
skills and understand how tocommunicate with different
individuals as well.
Um that's really helped me andshape me the way that I am
today.
And then I think you know,resilience is a massive part of
(22:42):
it.
Um because you know, there's asimilarity with you know funds
management and professionalsport is that professional
sport, you're judged everyweekend um with your
performance.
Funds management it's daily.
But you know, you're sitting outin front of eighty thousand
dollars on Queen uh sorry,eighty thousand people at the
(23:03):
MCG, Queen's birthday, there'snowhere to hide.
And if you miss that kick,that's everyone's looking at
you, and you've just got to hopup and go again.
Like there's no other option.
You know, with injuries, it'sthe exact same thing.
You can feel sorry for yourself,but that's not going to achieve
anything.
So um, yeah, as I've said, dustyourself off and have another
crack.
And I've taken that into my nextlife because inevitably you've
(23:27):
had a day where, you know, thecompany's fallen 10%, the share
price, and suddenly the PM'sasking you what's going on, like
you've got to make criticaldecisions in the moment.
So um that resilience andability to move forward and um
no doubt take the learning fromit.
Yeah.
Take ownership as well.
Take ownership, yeah.
(23:47):
Um and then move forward.
And um yeah, I think a lot ofthose things that I learned as a
young captain has really helpedme develop and develop me into
the person that I am today,which I'm grateful for.
SPEAKER_02 (23:59):
So going back to leadership as at Melbourne
Football Club as a 20-year-old,was there a situation where, you
know, an older player that, youknow, maybe played a lot more
games than you, you know, maybein their late 20s, that, you
know, wasn't up to scratch interms of where you want them to
be that fit, you know, theleadership or what the the team
(24:22):
demanded of them, and you had tohave a hard conversation with
them.
So a situation that thathappened because that happens in
the corporate world a lot, andmaybe what learnings you've had.
SPEAKER_01 (24:31):
Yeah, that situation that you just described was my
biggest fear coming in as ayoung captain.
Um, I've always been one torespect your elders,
particularly those with moreexperience than you.
Um, and suddenly you're thrustinto a position where you're 20
years old, I don't know, I thinkI'd played about 50 games at the
time, and I'm suddenly lookingdown the barrel of having to
(24:53):
give feedback, um, pretty firmfeedback at times, to 200 plus
gamers who are, you know, 30years old.
And one particular time, I mean,the D's were going through some
pretty tough periods in in thatperiod of time and weren't
winning too many games.
We were going through a bit of atransition to giving
opportunities to the youngerplayers, which the older players
(25:16):
obviously weren't all thatthrilled about.
Um, you know, I was sittingthere in a situation where
suddenly I had to approach anolder player and say, um, I'm
really sorry, but you're notplaying this week.
Um, we've gone with thisdecision.
And, you know, it's characterbuilding because I was so
nervous going into it, but nowI've realised that um it's I
(25:37):
shouldn't be fearful of thatsituation and I've um grown as a
person as a result of that.
Um and I think the clearfeedback within that is just be
direct.
Um you know, obviously haveempathy for the person because
it's not the news that they wantto hear.
But if you're direct and honestand authentic, then they've got
no other reason to complain.
(25:59):
And if you give them a goodaction plan as to how they're
going to come back into the teameventually, then um and
continuously following up withthem.
But yeah, as a 20-year-old, as Isaid, that was a really
difficult situation to gothrough.
SPEAKER_02 (26:12):
Yeah.
I think what's also important isif if you believe in it's the
right decision, right?
But sometimes have you asituation where maybe you don't
feel it's the right decision,but you still have to deliver
that feedback?
Did that ever happen where maybeyou thought, well, actually we
could be better with this playerin the team, or did it ever
(26:32):
occur?
SPEAKER_01 (26:33):
Yeah, for sure.
I think you know, as a acoaching group or a team
selection, you make decisionsand obviously within that group
you have agreements anddisagreements.
Um but whatever that decision isin the end, you have to back it
in and move forward with that.
If you start having um divisionswithin committees or um whatnot,
(26:56):
that's when it all breaks down.
And you see that in thecorporate world now.
So, you know, boards will cometo decisions and not necessarily
all agreed upon, but that's theway forward and that's where
we're going.
So stay strong with that.
As soon as you go around behindtheir back and say, Oh mate, I
wanted you in the team, butwe're actually dropping you,
then that's where it all fallsapart.
And that's a big cultural pieceto organisations.
(27:18):
Um and yeah, I've been put inmany of those situations before,
but uh yeah, it's all great,great learning.
SPEAKER_02 (27:24):
Well, thank you for sharing everything today.
Jack's been a pleasure.
Um it's been great coming toAdelaide and and seeing you, and
good to see you be so successfulin your second career today.
And um, yeah, to the financefriends, we wish you all the
best for the next um you know 15plus years of any better
analysis.
SPEAKER_01 (27:43):
Thanks so much for having me, Fabian.
It's been uh a pleasure to behere and um yeah, looking
forward to uh to uh listeninginto um guests in the future.
SPEAKER_02 (27:52):
Thank you.
Thanks for listening this week.
Stay tuned for our next episodeand keep up to date with Dr.Spot
following the final sprintpodcast on Instagram and TikTok,
connect with us, and our guestsare over on our LinkedIn page,
(28:14):
all linked in the show notes,and the five.
SPEAKER_00 (28:31):
The personal opinions of the speaker and
guests do not represent the viewof any other students.
If this recording containsreference to financial products,
that reference does notconstitute advice nor
recommendations and may not berelied upon.
Today on the Finance Friends podcast, we're excited
to welcome someone whosehistorically reflects both the
client and challenges ofprofessional sport.
Jack Trengrove.
He talks about resilience andbuilding a career beyond sport.
He was drafted as number twopick in the 2009 AFL draft to
(01:14):
the Melbourne Demons, where hequickly made his mark.
And at the age of 20, that'sright, 20, became one of the
youngest AFL captain in AFLhistory.
Unfortunately, his career washampered with injuries, although
this was a bit of a light bulbmoment, an opportunity for Jack
(01:35):
to reflect and realise that heneeds to think about what's
beyond football because he mightnot play 300 games.
So he studied commerce and nowhe works as an equity analyst at
Lanyan Asset Management.
He shares his story aboutdiscipline, leadership, and
resilience.
This is a must-listen toepisode.
(01:59):
Good afternoon, Jack.
Thanks for having me.
Welcome to the Fine Strengthspodcast.
It's nice to be in Adelaide.
Haven't been to Adelaide to do apodcast before, so so welcome.
How's your day been?
SPEAKER_01 (02:10):
It's been great.
Adelaide's put it on for youguys, so hopefully you enjoy
your time here.
SPEAKER_02 (02:17):
Yeah, it's well, other than the uh mishap of
trying to get the recordingstudio set up, but we've had a
good chat for the last 40minutes.
That is good.
Um let's do it again.
So uh tell us a little bit aboutwhat you do now.
SPEAKER_01 (02:31):
Yeah, sure.
So um I am an analyst at LanyanAsset Management.
So uh Lanyan is a long-onlyvalue-oriented equity fund
manager.
Um we're based here in Adelaide,but we've got a an office in
Sydney as well.
Um my boss Dave Prescott foundedthe business uh 15 years ago.
(02:51):
Um, and we run money forinstitutional clients, family
offices, and a number of privateinvestors.
Um when I say we'revalue-oriented, we I guess if I
tell you about what the averageday for me looks like, it's
literally trolling throughfinancial reports, meeting with
executive teams and trying to, Iguess, uncover an undervalued
(03:14):
company listed here in Australiaor globally, um, one that we
think is a presents a goodinvestment opportunity and
hopefully we can make some moneyout of it for our clients.
SPEAKER_02 (03:23):
Yeah.
So how do you determine what ismarket value and what's
undervalued versus overvalued?
SPEAKER_01 (03:29):
Yeah, that's a a brilliant question.
Um so I guess there's lots ofdifferent ways that people
invest.
Um we're probably old school,what you call value investors,
as I said.
So, you know, we find a companyand we determine what the value
of that company is or what webelieve it is worth, and then
obviously we try to buy it whenit's at a discount of that
value, and then if it realizesthe value, then we'll sell it.
(03:52):
Um how to determine what thatvalue is.
There's lots of different waysto do it, but um, we try to
predict what the future cashflows of that business will be
and then discount them back totoday's price, and then you can
determine what a value is.
There's also different ways,like you can use um certain
multiples of earnings that umpotentially there's been a
(04:13):
transaction recently of a peerof that company or something in
similar in that industry, andthen you can sort of use that
multiple and compare it againstthe one that you're looking at
and see if there's differences afew different ways, but we think
that's the safest and best wayto generate strong returns
through um whatever cycle we'regoing through over a long period
(04:33):
of time.
SPEAKER_02 (04:34):
And you've been able to like the proof is in the
pudding because the results ofthe fund have been exceptional.
How long's the fund been runningfor and how long have you been
at the business for?
SPEAKER_01 (04:44):
Yeah, so this fund's been running since 2019.
Um I started at Lanyan in 2019,and um, yeah, thankfully we've
had some pretty strong returns.
Um, the returns look verydifferent to what market returns
look like.
So, you know, we run a prettyconcentrated portfolio, so 15 to
20 stocks.
(05:04):
Um, there's really noconstraints.
So we can invest in companieslisted overseas, locally,
various sizes, from the largestcap companies to very small cap
across all sorts of industries.
Um, and we love thatflexibility.
And yeah, over the course of thewhat is it, six years now, we've
(05:24):
been able to deliver returnsthat are above market returns
and um you know keep our clientshappy and hopefully that uh
continues.
SPEAKER_02 (05:33):
Yeah, and what do you most enjoy about your
current job?
SPEAKER_01 (05:36):
Yeah, that's another really good question.
I think the thing that I like isthat no day's ever the same.
So I'm a pretty curious type ofperson and love learning and
developing.
Um and we have the privilege ofsitting down with some of the
best executive teams inAustralia and trying to decipher
through their company andunderstand um the business and
(05:57):
what factors are at play andwhat the business is going to
look like in three to fiveyears' time.
Um so that element I really likelearning.
And, you know, we could belooking at a an iron ore miner
based out of the Pilbara oneday, and then the next day we're
looking at a little uniqueindustrial company um with a
really small market cap basedout of Sydney, out in the outer
(06:18):
suburbs.
So, you know, they're verydifferent, and no day, as I
said, is ever the same.
And I really like that um thatchange up because it's not
mundane in in any way.
SPEAKER_02 (06:27):
I'd imagine you'd be continuously learning all the
time about industry, about youknow, leadership strategy.
SPEAKER_01 (06:34):
Oh, definitely.
Um and I that's the bit that Ilove most.
You meet some really uniquepeople that have had incredible
experiences.
You know, my boss has been inthe industry his whole life, um,
and he's still learning everyday as well.
So there never is a point whereyou reach where you think I'm
there.
Um one of the unique thingsabout the industry, it's the
most humbling industry ever.
(06:54):
Yeah.
You feel like you're gettingsomewhere and then you peg back
down because something that youforecast went completely wrong.
Um so it's it's great in thatway.
And um, yeah, I feel like theday you stop wanting to learn is
the day you you should be done.
SPEAKER_02 (07:09):
Yeah.
Well it's quite interestingbecause you don't actually have
to get all your calls right.
You just got to get more than50% right, especially when
you're highly concentrated, andyou should be be able to
outperform the market quitequite easily.
SPEAKER_01 (07:21):
Yeah, definitely.
And don't worry, we get so manywrong.
Um but as you say, if you getthe majority right, then over
time that should um generatestrong returns.
And um thankfully so far we'vehad more right than wrong.
Um, but you're only as good asyour most recent performance,
and that doesn't determine whatyou're going to do in the future
either.
(07:41):
So um it it keeps you on yourtoes.
SPEAKER_02 (07:44):
That's right.
Um and so you've been doing thisfor six years, and did you
finish football and go straightinto this?
Or was there a transition periodbetween finishing football at
Port Adelaide and and startingthis role?
SPEAKER_01 (07:59):
Yeah, so if I go back all the way back, um, you
know, my journey, I've been youknow, my career itself in the
AFL, it didn't reach anyspectacular heights.
Um, but what I am, I'mabsolutely grateful for the
opportunity to play within theAFL system.
It was a childhood dream, andI'm one of the lucky ones that
got to, you know, live that out.
(08:20):
Um so I got drafted to theMelbourne Footy Club back at the
end of 2009, um, hung aroundthere for eight years and went
through all sorts of um ups anddowns, which we can touch on in
time, um, like any AFLfootballer, and then got the
opportunity to come back to PortAdelaide.
And throughout those ups anddowns, I had a few injuries um
(08:41):
and was always keen on mystudies through school.
I think mum and dad reallydrilled into me from the outset
that you've got to have balancein life, and I'm a big advocate
for that.
Um certainly didn't have all myeggs in the one basket.
SPEAKER_02 (08:53):
And so just touch it, how important is that,
especially when you're goingthrough your you know, your
football career, you had a lotof injuries that were pretty
challenging injuries, from myunderstanding.
How important is that balance toget you through that challenging
time?
SPEAKER_01 (09:06):
Yeah, it's critical.
And if I could give any adviceto not only footballers but
anyone in life, it's just tohave that balance because you
know, we can think about I'vegot plenty of examples of past
teammates, current players whohave gone through this
transition period.
Um and I I personally view it asbeing the biggest issue um
(09:29):
facing athletes at the moment,and one that no one's ever
really nailed, because um, youknow, you go from being you know
full on in everything, givingyour whole life to a particular
sport or um a certain goal, andthen that can be ripped up very
quickly because the industry'sincredibly ruthless.
(09:50):
Um, one injury, you know, somepoor performance, one coach that
doesn't think you're any goodanymore, and suddenly you're out
of a job.
And if you've committed yourwhole life to that and you
realize one day you're out of ajob, then suddenly you're you
know behind the eight ball andyou know, in a challenging
period trying to figure out whatyou're gonna do because um using
AFL as an example, I think theuh average career length's like
(10:13):
four years, so it's not verylong.
And if you've committed a lot oftime and energy to that, get to
the end of it, you're suddenly,you know, 22, 23 years old and
have no education.
And um, so for me personally,um, if I think about my example,
is that I studied straight awaywhen I got into the system and
um the injuries that I had wereprobably a blessing to a degree
(10:34):
because it made me really thinkabout what life's going to look
like after football, because Ihad a surgeon one day tell me
that you may never run again,let alone play footy, and that
was at the age of 21.
So it was um you know, prettyconfronting at the time, but I
call it a blessing, and I'm sothankful for it because it meant
that I did get thinking aboutwhat that next um I guess career
(10:58):
was going to look like.
So I was lucky enough to hangaround, as I said, for another
eight years after that.
But the day that I finishedfooty, I walked into the job at
Lanyan.
So um when you talk about thattransition period, I was
extremely fortunate that itwasn't it was quite a smooth
transition for me.
SPEAKER_02 (11:15):
So did you s was that the the light bulb moment
where you thought I need tostudy, or were you studying
prior to that you know, surgeand saying you might not ever do
that again?
SPEAKER_01 (11:25):
No, I was studying, um, but you know, there's
studying and then there'sstudying.
It was sort of ticking along inthe background.
I picked up a commerce degree assoon as I got drafted because as
I said, I worked really hard atschool to get the best scores
possible.
Um so I wanted to utilize that.
But the commerce degree wascertainly on the back burner and
I was just ticking along and umjust scraping by and then this
(11:45):
injury where I was like, farout, if I don't have a job next
year, what am I doing?
It took me on a really uniquejourney where I started, you
know, making the most of whatstrong networks are within
football clubs, um, particularlythe Melbourne Football Club, met
some incredibly successfulbusiness people and tried to
figure out exactly where Iwanted to take my career, um, if
(12:07):
footy was to f to finish or whenit was inevitably going to
finish.
Um, and that led me down, youknow, an incredible path of
meeting unique people doing allsorts of different things.
Um and at that point I sort ofcould understand exactly what I
wanted to do, and then reallystarted working towards that.
So I actually finished my unitdegree while I was playing,
(12:30):
yeah, and then um got theopportunity to do some work
experience.
SPEAKER_02 (12:33):
Uh one of them and I was gonna say, what did that
involve?
SPEAKER_01 (12:36):
Yeah, so um initially it was like some
financial advice when I was inMelbourne and realized that
while I enjoyed it, I didn'tthink it was something that I
really wanted to pursue.
So if anything, it put a linethrough that.
And then when I moved back toAdelaide, I got introduced to
Dave Prescott, who I've alludedto, he's the founder of Lanyan,
(12:57):
and we hit it off from thestart.
You know, I think our valueswere very aligned.
Um, I loved his passion.
Um, I think he's a bit of awizard when it comes to
investing.
Um, and he offered me the chanceto come sit on his shoulder on
my day off uh that we got eachweek.
So I did that for the two yearsI was at Port, and then I was at
(13:18):
a point where I probably couldhave tried to keep playing footy
if I wanted to, but then I waslike, I'm 28 years old, I know
what I want to do next.
I've got a job there sitting andwaiting for me.
I'm ready to just jump into it.
SPEAKER_02 (13:32):
So you're clearly content with your football
career today or content enoughand more looking forward to your
your next career?
SPEAKER_01 (13:38):
I think that's probably the one.
Are you ever content?
I don't know, uh, with a footycareer.
Um I think I I knew that I triedeverything I could at that
point.
And um, yeah, my career lookedvery like the f the first three
years of my career, I wasplaying a lot of games and
getting lots of opportunitiesand was named the captain of the
Melbourne Footy Club as a20-year-old, which was um an
(14:01):
experience in itself.
Um and then injuries came alongand it sort of derailed the
trajectory that I was on, whichis fine.
That's um but I guess I hadoptimism to play for a long time
and be a successful footballer,and then the injuries sort of
challenged me a lot through thatperiod.
So um yeah, when I got to theend, when I was 28, I was sort
(14:25):
of like, I I know exactly what Iwant to do next.
Am I just delaying theinevitable, or should I launch
into it and really try to make acareer?
Um, I met, as I said, I've metsome incredible people along the
journey, but one person inparticular, John Hills, who
you'd know as the um, you know,well-regarded wallabies captain.
Yeah, he I sat down with him afew times, but he said to me,
(14:46):
Jack, you're not retiring fromfooty, you're actually starting
a whole new career.
And it's just a slight littleshift in your mindset.
SPEAKER_02 (14:53):
Gren Hackett talks about that as well.
SPEAKER_01 (14:55):
It's like it's it's a slightest little shift, but
it's like you're not finishingsomething that you've you know
worked your whole life to do.
It's actually you're should beexcited about the next career
you're about to embark on.
And I took that approach and umyeah, literally haven't looked
back since.
SPEAKER_02 (15:11):
Yeah, well, I think John Eles will listen to the
podcast because um we had LukeJones on the podcast, and
actually Luke used to play forthe wallabies, and uh Johnny's
is is one of his mentors.
So uh Luke was saying that uhJohn Eles has listened to the
podcast.
So I'm sure all the otherslisten to your podcast too.
So they'll give him a shout outif he's listening.
(15:33):
Uh well that's I think that'sreally important and that
mindset.
Um and I think would you say alot of sports professionals that
you know do finish their careerin sport really struggle to look
forward and maybe too busylooking a little bit backwards?
SPEAKER_01 (15:47):
Definitely.
And whether it's the um they'renot content with what they
achieved through their career orthey're unsure as to what they
want to do next, there's lots ofdifferent reasons.
But the biggest thing that I seewith athletes transitioning is
they're a bit lost for a periodof time, which is normal.
You go from, you know, if you'vehad a 10 to 15 year career,
(16:08):
you're told literally where tobe, what to do at every moment
of the day.
You're told what to eat, youknow, how fit you should be.
When you can drink, when youcan't drink.
Exactly.
So you can go out, you can't goout.
Exactly.
So um, you know, that's justremoved and suddenly you're left
to your own devices.
It's a unique situation to bein.
And some people haven't been inthat situation since they were
(16:30):
18, but that's coming out of aschool system where you're sort
of told similar.
Um so I see a lot of peoplestruggle through that, and um,
that's why I encourage a lot ofyoung athletes or athletes of
any age to figure out what theirpassions are away from the game
and try to start pursuing as towhat that might look like in the
event that your career's done.
(16:50):
The earlier you can do that, thebetter off you'll be.
And you may still take years tofigure that out, and you may not
figure that out, but at leastyou've started that journey.
SPEAKER_00 (16:58):
Yeah.
SPEAKER_01 (16:59):
And when the inevitable day comes that your
career's over, you're betterpositioned to actually make a
decision.
SPEAKER_02 (17:05):
Yeah, that's correct.
And also the good thing is thatyou, as a professional sports
person, you get access to somany brilliant minds that
obviously want to talk to youabout your sport.
Yeah.
So how do you reverse that?
Because people want to talk toyou about you know the Melbourne
Football Club being the captainand whatnot, and but you want to
your mindset needs to be, I wantto learn from you as well.
(17:27):
So a lot of what we've seen inAndy Gallers, who's uh um was on
uh podcast a few weeks ago, hespeaks about that and trying to
tell the Hawthorne footyplayers.
Yeah, you know, when we getthese people that are very
successful, that are sponsors,you know, try and pick their
brains about what they do, howthey became successful, build
relationships that will help youout, you know, beyond sport.
SPEAKER_01 (17:49):
Definitely.
I um I couldn't be a biggeradvocate for that again.
Um and it's shifting thatconversation.
So, as you say, if you've got abit of a um identity as a a
footballer or as an athlete,people are interested in you and
what you're doing, which iswhich is great.
Um but I think a lot of playerscan fall into the trap of going
(18:10):
to these functions and having tosit next to corporate supporters
or whoever it is and just think,oh no, here's another situation.
I'd rather be home, relaxing orrehabilitating an injury or
whatever it is.
But it's like, no, see that asan opportunity to go meet
somebody, be a bit curious, askquestions about what they're
doing, because yeah, it'samazing how often that it comes
(18:31):
full circle.
Like the people I spoke about abit about the journey that I
went on, and I literally my dayoff for a while there was
catching up for coffees.
I would have had three or fourcoffees in the day just meeting
new people, and I tried to gointo those conversations really
keen to understand exactly whatthey do and why they do what
they do.
And, you know, more often thannot, people are are quite happy
(18:54):
to talk about themselves andwhat they've done, particularly
if they've been successful init.
Definitely.
So just you know, lean into thata bit and and and get some more
out of it.
And then um, you know, becausethe other thing I would say is
that door does close.
So suddenly you're the athletethat's competing every weekend,
uh now you're three years out ofthe game, not completely
(19:16):
forgotten, but largelyforgotten, and that door might
not be open anymore.
So capitalise on the situationthat you're in.
And it's not taking advantage ofit.
Um be authentic, be genuine inthe way that you go about it.
SPEAKER_02 (19:28):
But just take your opportunities.
Take your opportunities, yeah.
Yeah.
Because you know, it's not oftenyou get to sit at a table that
you know, maybe that runssomeone that runs a successful
business or the CEO of a listedcompany or someone that runs an
investment firm that you know iswilling to take you on one day a
week to to shadow and and tolearn.
SPEAKER_01 (19:48):
Yeah, if you don't ask that question, you'll never
find out.
And a lot of my great friendsare, you know, ex-presidents of
football clubs, board members,who I catch up with regularly
now, and they're friends thatI'm going to have for life on
the back of just um, I guess,having the curiosity to ask a
question.
SPEAKER_02 (20:05):
Yeah.
I want to touch on, go back tobeing the youngest ever AFL
captain.
Is that right?
Yeah, I think that still stands.
Yeah.
Because I know at 20 I was auniversity student and I was
lucky to make it to class andalone captain a professional
sports team that's in the publiceye.
Can you talk through thatjourney and and what your
(20:25):
biggest learnings from that wordthat have helped you in your
career at the moment as aninvestment analyst?
SPEAKER_01 (20:31):
For sure.
Um yeah, I I completely agreewith you.
I would never have thought thatas a 20-year-old I'd be
captaining the or co-captainingthe oldest AFL footy club in the
land.
Um, but it was an absoluteprivilege and honour to be in
that position.
Um, how it came about, I wasn'toutwardly looking to become a
(20:52):
captain.
I think when you're younger, youget pushed into leadership
positions because you'reprobably one of the best players
in the team.
Whereas as you get older, it'sactually for purpose.
Um, and I think I was selectedby my peers just from the
actions that I was displaying onthe training track.
Um and yeah, that took me on aan incredible journey and one
(21:12):
that I'm very grateful foragain.
Um you know, it had its ups anddowns, certainly lots of
challenges.
Um, but I think the keylearnings that I took away from
that experience was um, youknow, leadership in itself and
what that looks like.
I think if I have one regret isthat, you know, I was selected
as a co-captain and I probablytried to be too much to too many
(21:34):
at that period of time andneglected myself.
Um so I've had any advice foryoung leaders or leaders in
general, is like, yes, you wantto be selfless and help everyone
out, but your most importantrole is probably to take care of
yourself first, lead by example,and that's what brings everyone
along for the journey.
And then on top of that, if youhave spare time, obviously help
help out others, be empatheticand try to develop them.
(21:58):
But the best way you can lead isto really um drive it yourself
and make sure that you're goingin the right direction because
you're no good to the team ifyou're helping everyone else,
but not actually deliveringyourself.
Um, so that was a key learning,and then just the skills of
communication, um you know,delivering direct feedback.
Um you suddenly as a20-year-old, you're sitting in
(22:19):
front of press conferences andum dealing with key
stakeholders, um delivering apre-game address, you know, all
those little things that youdevelop these communication
skills and understand how tocommunicate with different
individuals as well.
Um that's really helped me andshape me the way that I am
today.
And then I think you know,resilience is a massive part of
(22:42):
it.
Um because you know, there's asimilarity with you know funds
management and professionalsport is that professional
sport, you're judged everyweekend um with your
performance.
Funds management it's daily.
But you know, you're sitting outin front of eighty thousand
dollars on Queen uh sorry,eighty thousand people at the
(23:03):
MCG, Queen's birthday, there'snowhere to hide.
And if you miss that kick,that's everyone's looking at
you, and you've just got to hopup and go again.
Like there's no other option.
You know, with injuries, it'sthe exact same thing.
You can feel sorry for yourself,but that's not going to achieve
anything.
So um, yeah, as I've said, dustyourself off and have another
crack.
And I've taken that into my nextlife because inevitably you've
(23:27):
had a day where, you know, thecompany's fallen 10%, the share
price, and suddenly the PM'sasking you what's going on, like
you've got to make criticaldecisions in the moment.
So um that resilience andability to move forward and um
no doubt take the learning fromit.
Yeah.
Take ownership as well.
Take ownership, yeah.
(23:47):
Um and then move forward.
And um yeah, I think a lot ofthose things that I learned as a
young captain has really helpedme develop and develop me into
the person that I am today,which I'm grateful for.
SPEAKER_02 (23:59):
So going back to leadership as at Melbourne
Football Club as a 20-year-old,was there a situation where, you
know, an older player that, youknow, maybe played a lot more
games than you, you know, maybein their late 20s, that, you
know, wasn't up to scratch interms of where you want them to
be that fit, you know, theleadership or what the the team
(24:22):
demanded of them, and you had tohave a hard conversation with
them.
So a situation that thathappened because that happens in
the corporate world a lot, andmaybe what learnings you've had.
SPEAKER_01 (24:31):
Yeah, that situation that you just described was my
biggest fear coming in as ayoung captain.
Um, I've always been one torespect your elders,
particularly those with moreexperience than you.
Um, and suddenly you're thrustinto a position where you're 20
years old, I don't know, I thinkI'd played about 50 games at the
time, and I'm suddenly lookingdown the barrel of having to
(24:53):
give feedback, um, pretty firmfeedback at times, to 200 plus
gamers who are, you know, 30years old.
And one particular time, I mean,the D's were going through some
pretty tough periods in in thatperiod of time and weren't
winning too many games.
We were going through a bit of atransition to giving
opportunities to the youngerplayers, which the older players
(25:16):
obviously weren't all thatthrilled about.
Um, you know, I was sittingthere in a situation where
suddenly I had to approach anolder player and say, um, I'm
really sorry, but you're notplaying this week.
Um, we've gone with thisdecision.
And, you know, it's characterbuilding because I was so
nervous going into it, but nowI've realised that um it's I
(25:37):
shouldn't be fearful of thatsituation and I've um grown as a
person as a result of that.
Um and I think the clearfeedback within that is just be
direct.
Um you know, obviously haveempathy for the person because
it's not the news that they wantto hear.
But if you're direct and honestand authentic, then they've got
no other reason to complain.
(25:59):
And if you give them a goodaction plan as to how they're
going to come back into the teameventually, then um and
continuously following up withthem.
But yeah, as a 20-year-old, as Isaid, that was a really
difficult situation to gothrough.
SPEAKER_02 (26:12):
Yeah.
I think what's also important isif if you believe in it's the
right decision, right?
But sometimes have you asituation where maybe you don't
feel it's the right decision,but you still have to deliver
that feedback?
Did that ever happen where maybeyou thought, well, actually we
could be better with this playerin the team, or did it ever
(26:32):
occur?
SPEAKER_01 (26:33):
Yeah, for sure.
I think you know, as a acoaching group or a team
selection, you make decisionsand obviously within that group
you have agreements anddisagreements.
Um but whatever that decision isin the end, you have to back it
in and move forward with that.
If you start having um divisionswithin committees or um whatnot,
(26:56):
that's when it all breaks down.
And you see that in thecorporate world now.
So, you know, boards will cometo decisions and not necessarily
all agreed upon, but that's theway forward and that's where
we're going.
So stay strong with that.
As soon as you go around behindtheir back and say, Oh mate, I
wanted you in the team, butwe're actually dropping you,
then that's where it all fallsapart.
And that's a big cultural pieceto organisations.
(27:18):
Um and yeah, I've been put inmany of those situations before,
but uh yeah, it's all great,great learning.
SPEAKER_02 (27:24):
Well, thank you for sharing everything today.
Jack's been a pleasure.
Um it's been great coming toAdelaide and and seeing you, and
good to see you be so successfulin your second career today.
And um, yeah, to the financefriends, we wish you all the
best for the next um you know 15plus years of any better
analysis.
SPEAKER_01 (27:43):
Thanks so much for having me, Fabian.
It's been uh a pleasure to behere and um yeah, looking
forward to uh to uh listeninginto um guests in the future.
SPEAKER_02 (27:52):
Thank you.
Thanks for listening this week.
Stay tuned for our next episodeand keep up to date with Dr.Spot
following the final sprintpodcast on Instagram and TikTok,
connect with us, and our guestsare over on our LinkedIn page,
(28:14):
all linked in the show notes,and the five.
SPEAKER_00 (28:31):
The personal opinions of the speaker and
guests do not represent the viewof any other students.
If this recording containsreference to financial products,
that reference does notconstitute advice nor
recommendations and may not berelied upon.
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