Is Buffett's portfolio falling behind? Plus Magellan, Bluey and the May budget

In this episode of 2-Sense, Owen and Drew ask a big question: is Warren Buffett falling behind in 2026, or is Berkshire Hathaway just investing on a different timetable to everyone else? They unpack Buffett’s huge Apple exposure, Berkshire’s growing cash pile and the broader debate around whether AI is changing the investing playbook or simply changing what investors are paying attention to right now. The conversation then swings back to Australia, with a close look at Magellan’s decision to outsource management of its global equities funds. Owen and Drew explore what the move says about the business, why it matters when a once-dominant fund manager changes course, and what investors should watch from here. They also dive into the May budget chatter, from capital gains tax and negative gearing to new housing incentives and the knock-on effects policy changes can have on wealth creation. There’s more on Bluey’s blockbuster economics, company news from Coles, ANZ and NAB, thoughts on Alphabet, Amazon, Meta and Microsoft, plus a practical buy, hold or sell-style discussion to round things out. Episode resources Speak with the Rask Advice team Ask a question (select the Investors podcast) Show partner resources ETF investor? Go beyond ordinary with Global X: View all funds Visit TermPlus to learn more Have the chance to win a 5k travel voucher. Take the TermPlus survey here (last entry 31st of May) Rask Resources All services Financial Planning Invest with us Access Show Notes Ask a question We love feedback! Follow us on social media: Instagram: @rask.invest TikTok: @rask.invest DISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser. Access The Rask Group's Financial Services Guide (FSG): https://www.rask.com.au/fsg Learn more about your ad choices. Visit megaphone.fm/adchoices