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Record Profits: The Importance of Beating Earnings
Episode 231
Corporate America has just delivered its best earnings season in years — record beats, record margins, and growth numbers that look almost too good t…
11 hours ago
Senior Management: Who Looks After Your Money When You Can't?
Episode 230
Your ability to manage money declines steadily after sixty. Yet your confidence in that ability doesn't decline at all, so mistakes get made with tot…
1 week ago
Beta Noire: Unsolved Mysteries of the Market
Episode 229
Economists have spent half a century building elegant models of how markets work, and the markets have spent half a century ignoring them. We investi…
2 weeks ago
Gilt Complex: Is Britain in Hock to the Bond Market?
Episode 228
Andy Burnham once said Britain had to “get beyond being in hock to the bond market”. That’s easier said than done when gilt yields are 5%, debt inter…
3 weeks ago
The Declaration of Outperformance: Is America Still Exceptional?
Episode 227
Warren Buffett says “never bet against America”. But plenty of people spent the last eighteen months doing exactly that — betting the dollar would be…
4 weeks ago
Portfolio Positions: Your Starting XI of Asset Classes
Episode 226
As the World Cup reaches the quarter finals, we name our starting XI of asset classes. From the goalkeeper who does nothing for eighty-nine minutes t…
1 month ago
Your Career is a High-Yield Bond (And It’s Probably Junk)
Episode 225
Your "Human Capital" might be the largest asset you own, and it behaves like a bond. Seeing your career as a volatile asset might change how you thin…
1 month, 1 week ago
Sequence and Sensibility: Is Now a Good Time to Retire?
Episode 224
On paper, now looks like a fine time to retire. Annuity rates are generous, gilts finally pay a real return, and even cash earns its keep. But retire…
1 month, 2 weeks ago
How the AI Investment Boom Ends, with Tom Stevenson
Episode 223
The AI boom has all the signs of a bubble. An exciting new technology, stretched valuations, extreme concentration, circular financing, and uncertain…
1 month, 3 weeks ago
Paws and Reflect: The Surprising Science of Who Wins at Investing
Episode 222
The best investors aren't necessarily the cleverest, the best-paid, or the most daring. In fact the evidence suggests they're closer to the opposite.…
2 months ago