Podcast: Many Happy Returns

Available here:

Tesla’s stock price fell almost 70% in 2022 and was among the worst-performing stocks in the S&P 500. To some, Tesla is the poster child for innovation, set to dominate the global automotive industry for years. But to others, it’s the most egregious example of hype and bravado to emerge from the era of free...
So you’ve decided it’s time to overhaul your investment portfolio. Out with the old assets and in with the new. But hold on, before you press the sell button, there’s a lot to consider. Have you modelled your new portfolio? Have you found the cheapest funds? Have you thought about taxes? Today we discuss how...
A festive round-up of the major investing stories of 2022. We consider the trends that moved the market and ask which will continue into the next year. If you’ve ever wanted to hear ‘The Twelve Days of Christmas’ adapted for investors, today is your lucky day! And in today’s Dumb Question of the Week: Did...
The investment world is full of attempts to milk us for fees and capital. But how is it done? Simply take a humdrum product, dress it up in exciting clothes, and sell the dream. Is your active fund secretly tracking an index? Is your favourite meme stock hiding faltering performance with gimmicks? Who’s actually paying...
Investment decisions always involve trade-offs. Spend vs save. Risk vs return. There’s no way around them, no matter how many times you rejig your spreadsheet. We look at five trade-offs every investor has to face: Spend vs save Risk vs return Ethics vs diversification Reliability vs excitement Liquidity vs lifestyle choices And in today’s Dumb...
Which countries will deliver world-beating returns to shareholders over the next four years? That’s the question we ask in today’s unofficial and unscientific Stock Market World Cup. We have four closely fought international matchups to decide: UK vs France Germany vs China USA vs Japan India vs Brazil And in today’s Dumb Question of the...
Last week saw FTX implode in a storm of allegations that culminated in bankruptcy. The failure of the second-largest exchange and standard-bearer for the industry has left everyone asking: what next for crypto investors? The fallout is ongoing, with customers nursing heavy losses, investigators circling and the industry teetering. We delve into what caused the...
The pandemic delivered a massive simultaneous shock to the world economy. But which changes will outlast the pandemic, and should they cause us to rethink our investments? Alongside six million deaths and the largest peacetime fall in GDP since the Great Depression, Covid upended our way of life and put novel technologies centre stage. Pandemics...
It is often said that failure is a better teacher than success. This week we discuss how to live with and learn from your investing mistakes. Spotting errors is not as easy as it might sound, even with the benefit of hindsight. But there are strategies we can employ to stop them from derailing our...
2022 has been a horror show in markets. A nightmare on Wall Street. But every crisis presents opportunities for investors. This week we look at six different assets and consider if they may be about to rise from the grave. US small-cap stocks Chinese equity TIPS Commodities Ethereum Annuities And in today’s Dumb Question of...
The gilt market was the last place anyone expected systemic risk to almost blow up the UK pensions industry, force the Bank of England into emergency bond purchases, cause the chancellor to be sacked, and make the government reverse its flagship economic policy. But are we now out of the woods? And what other markets...
Interest rates are rising at breakneck speed and the impact on the value of assets is profound. We look at how stocks, bonds, gold and property respond to climbing rates. And consider whether any assets might actually benefit from rising rates? We dig into why interest rates are so influential for asset prices. So if...
Everyone loves a list: Buzzfeed, Santa, even God himself. But if you had to list the ten most important investing principles, what would you choose? These are our guidelines for how to sustainably grow your wealth while enjoying the journey and avoiding catastrophic loss. And in today’s Dumb Question of the Week: What is asset...
On Friday, the UK chancellor unveiled his ‘mini-budget’ with the most significant tax cuts in 50 years. The market reaction was swift and brutal. Sterling crashed to a record low versus the dollar, and UK borrowing costs spiked. We ask why the market reacted so negatively and what it means for those of us who...