Is stock picking dead? Scott Phillips on ETFs, AI and the investing edge

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.

Episode resources

– Scott's Book: The One-Page Investing Plan

– Buy Gemma’s book “The Money Reset”

– Speak with the Rask Advice team

– Ask a question (select the Finance podcast)

Show partner resources

– View VanEck's range of funds

– Join Pearler using the code "RASKSWITCH" and get $32 of Pearler Credit