In this episode, TK shares his busy week involving golf, horse racing, and family events, including his daughter's first auction and his upcoming birthday. Cameron updates on the QAV light portfolio's performance, noting it's now beating the index since inception and for the financial year, despite selling EHL and TPG. They discuss Dollarama's acquisition of The Reject Shop (TRS) at a significant premium, speculate on the rationale, and touch on potential challenges for Dollarama in the Australian market. Concerns are raised about Stockopedia following staff departures and data discrepancies, particularly with Price to Operating Cash Flow (PropCAF) figures. The hosts delve into ASIC and the RBA scrutinizing the ASX over CHESS replacement issues and operational risks. They analyze several stocks: Accent Group (AX1) potentially seeing increased stake from Fraser's Group, New Hope Group's positive results and share buyback amidst slumping coal prices, Ramelius Resources' (RMS) controversial acquisition of Spartan Resources and subsequent removal from Stock Doctor's star list due to disclosure and financial concerns, and NZME's results, potential corporate activity involving Stuff, and a looming board challenge from Canadian billionaire Jim Grennan. A significant discussion revolves around establishing 'red flags' for corporate governance issues, triggered by Helia's (HLI) CEO selling shares before bad news, Indiana Resources (IDA) failing to lodge reports on time, and broader concerns about management integrity, timely disclosure, and when to remove a red flag. They also cover TPG Telecom's sale of assets to Vocus and perform a deep dive into Santos (STO), including its history, recent performance, QAV metrics, and associated risks. The episode wraps up with 'After Hours' chat about classic TV shows like Joe 90 and Odd Squad, films like Unforgiven and Ipcress File, music discoveries including Transplants and The Distillers, and TK's upcoming horse races.