In this episode of Australian Finance Podcast, Owen Rask sits down with Scott Phillips to unpack one of the biggest investing questions of the moment: is stock picking dead? Scott explains why investing is cumulative, how experience builds pattern recognition over time, and why AI may shrink some information gaps without eliminating the need for judgment. Together, Owen and Scott explore where value is still likely to accrue, why the future remains hard to predict even with better tools, and what that means for investors trying to build long-term wealth. The conversation also gets practical on ETFs. Scott makes the case that broad, low-cost index ETFs should be the default for most Australians, while still arguing that stock picking is far from dead for investors with the temperament, process and patience to do it well. They also discuss Scott’s book, The One-Page Investing Plan, and why simple frameworks matter so much for newer investors. The big takeaway is that successful investing does not need to be complicated, but it does require patience, consistency and the ability to stay the course when markets get noisy. Scott’s view is that behaviour may be the real edge: humility, temperament and long-term thinking still matter, even in an AI-shaped market. *Chapters* *Episode resources* - Scott's Book: The One-Page Investing Plan: https://scottphillips.com.au/the-one-page-investing-plan - Buy Gemma’s book “The Money Reset”: https://amzn.to/42Uz0aK - Speak with the Rask Advice team: https://rask.com.au/advice - Ask a question (select the Finance podcast): https://bit.ly/R-quest *Show partner resources* - View VanEck's range of funds: https://www.vaneck.com.au/vaneck-etfs/?page=etf-selector - Join Pearler using the code "RASKSWITCH" and get $32 of Pearler Credit: https://bit.ly/Pearler - Get 50% off your first two months using PocketSmith: https://bit.ly/R-PocketSmith - Whatever comes next for your business, power it with Stripe: https://stripe.com *Rask resources* - All services: https://bit.ly/R-services - Financial Planning: https://bit.ly/R-plan - Invest with us: https://bit.ly/R-invest - Access Show Notes: https://bit.ly/R-notes - Ask a question: https://bit.ly/R-quest - We love feedback! https://raskau.typeform.com/to/ZbfHy6IP *Follow us on social media* - Instagram: https://www.instagram.com/rask.invest - TikTok: https://www.tiktok.com/@rask.invest *Disclaimer* The information in this episode is provided by The Rask Group Pty Ltd and contains general financial product advice only. It does not take into account your objectives, financial situation or needs. Before acting, consider whether the information is appropriate for you and consider seeking personal advice from a licensed financial adviser. You can read our Financial Services Guide at www.rask.com.au/fsg. If a financial product is mentioned, consider the relevant PDS and TMD, where applicable, before making any financial decision. Past performance is not a reliable indicator of future performance. Returns are not guaranteed and capital may be at risk. The Rask Group Pty Ltd is a Corporate Authorised Representative No. 1280930 of Rask Licensing Pty Ltd, AFSL 563 907.