Podcast: Many Happy Returns

For the best part of a century, buying cheap stocks was a reliable way to beat the market. But since the financial crisis, value investing has significantly underperformed. Even Warren Buffett — its most famous advocate — has lagged the market. So is value investing dead? Or is it just sleeping? And in today’s Dumb...

Stock markets go up because companies grow their earnings over the long term. But this year, the S&P 500 is rallying despite stocks reporting their third straight quarter of falling profits. Has the market just not noticed? We discuss whether an earnings recession should worry us and if it’s about to turn around. And in...

For decades, China has been the engine of global growth, doubling its GDP every eight years. But now it faces weak demand, slowing productivity and an ageing population. We debate if China can beat the “middle-income trap” and what it means for investors. And in today’s Dumb Question of the Week: Is China’s currency called...

What if you could invest in the stock market but not risk losing money? Yes, yes, your alarm bells should be ringing! But that’s exactly what some new funds claim to offer. We take a hard look at structured products and buffer ETFs and ask if they really make sense for investors. And in today’s...

How would your portfolio cope with a severe economic shock? We’ve picked out five different scenarios to stress test our finances, including recessions, depressions, and sky-high inflation. But how should we think about tail-risks, and what we can do to prepare? And in today’s Dumb Question of the Week: Why haven’t wealth preservation funds preserved...

Politicians are tasked with steering the economy and spreading prosperity. But, shockingly, not all of their claims about money and markets stack up. We discuss common misconceptions in politics and the political truisms that mislead us about investing. And in today’s Dumb Question of the Week: What is insider trading? {{many-happy-returns-links}} {{pensioncraft-links}} {{disclaimer}} {{d-show-copyright}}

How can we maintain our quality of life in retirement without exhausting our funds? We don’t know how long we will live, and the unpredictability of inflation and market crashes combine to make retirement planning one of the most intricate puzzles in investing. We discuss how to manage the risks and what strategies can help...

We’re halfway through the year, and it’s time to take stock. Central banks are approaching the end of the hiking cycle. The S&P 500 has entered a new bull market. And bonds are paying more than 5%. We discuss where the investing opportunities might lie and what risks lurk for the rest of 2023. And...

The UK has the highest inflation of any major economy, and markets expect the Bank of England to keep hiking interest rates in response. But how high could rates go? Will mortgages become unaffordable? We discuss the chances of a recession and whether house prices could crash. And in today’s Dumb Question of the Week:...

The US Securities and Exchange Commission charged Binance and Coinbase with operating illegal securities exchanges. These are the two biggest names in crypto, accounting for more than half of global trading. Does this mark the beginning of the end of the wild west era of crypto? And in today’s Dumb Question of the Week: What...

Markets are eerily calm. Stock volatility is low, and the Vix fear gauge has plunged to pre-pandemic levels. But is this the quiet before the storm? With the US debt ceiling now resolved, some fear that replenishing the Treasury’s coffers could rattle the serenity of markets. Others fret about heightened macroeconomic uncertainty. So are markets...

When it comes to investing, time is your friend. If you get started early, compound returns do a lot of the heavy lifting for you! But what if you didn’t put money into the market when you were young… what if you start investing later in life? We discuss ways to reach our goals and...

Japanese stocks have hit their highest level in 33 years. With markets closing in on record highs seen in the 1980s, are Japanese stocks finally about to escape the shadow of the bubble? We dig into what’s behind the rally and if it has further to run. And in today’s Dumb Question of the Week:...

Investing is said to involve climbing a wall of worry… so where will the next crisis come from? A good place to look for clues is the Fed’s twice-yearly Financial Stability Report. The latest report highlights risks at banks, money-market funds and commercial real estate, but will they really cause the next crash? And in...