Episode Details

This week on The Art of Investing, Rich McDonald, Mark “Spice” Holden and Chris “CJ” Fellingham draw on over 100 years of combined experience across wealth and hedge fund management to break down a remarkable moment in markets.

US equities are pushing to new all-time highs, despite ongoing geopolitical tension, energy uncertainty and lingering concerns around credit markets.

With the S&P 500 and NASDAQ rallying strongly, the team explore what’s really driving this move, why sentiment has shifted so quickly, and whether this is the start of a broader bull market or simply another leg in a volatile cycle.

They also break down the growing dominance of big tech, the role of institutional money flows, and why markets can often move in the opposite direction to headlines.

This Week’s Highlights:

📈 Markets Hit New Highs

US equities surge to record levels, climbing the “wall of worry” despite negative news flow.

💻 Tech Leads the Charge

The Magnificent Seven drive performance, with Nvidia and mega-cap tech powering gains.

🔄 Rotation in Action

Capital flows back into under-owned areas, with short squeezes amplifying moves.

🏦 Banks Reassure on Credit

Major US banks signal resilience in the economy and downplay private credit concerns.

🌍 Global Divergence

US markets outperform while Europe and the UK lag amid currency and energy pressures.

🧠 Psychology Over Fundamentals

Why fear, greed and positioning often matter more than macro narratives.

Portfolio Snapshot - Week 35:

No changes to the portfolio this week.

Top Performers

🥇 VanEck Crypto & Blockchain Innovators ETF: +10.2%

🥈 WisdomTree Copper ETF: +4.4%

🥉 iShares S&P 500 GBP Hedged ETF: +3.4%

Underperformers

📉 iShares UK Gilts 0–5yr ETF: –0.1%

📉 iShares Core FTSE 100 ETF: –0.1%

📉 Cash: +0.1%

Portfolio Positioning:

The portfolio remains tilted toward growth and cyclicality, with:

• ~70–85% in equities and equity-like assets

• Exposure to commodities and emerging markets

• Defensive allocation via bonds and cash

The team maintain conviction in a pro-growth setup, while acknowledging short-term volatility.

Big Questions This Week:

• Why are markets rising despite negative headlines?

• Is this a sustainable bull market or short-term squeeze?

• Are investors underestimating the power of positioning?

• How should long-term investors respond to volatility?

What You’ll Learn:

✔️ Why markets often move against consensus expectations

✔️ How institutional flows drive major market moves

✔️ The role of fear vs greed in investing decisions

✔️ Why patience often beats reaction during crises

📈 Download the full Portfolio Performance Slides

View the portfolio breakdown: here

📧 Get in touch: theartofinvesting@ig.com

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Disclaimer:

This podcast is provided for educational and informational purposes only. The content presented is not intended as personal investment advice or a recommendation to buy, sell, or hold any particular securities or investments. All discussions regarding the model portfolio are illustrative and for educational purposes.

Your capital is at risk. The value of shares, ETFs and ETCs can fall as well as rise, which could mean