Investors' Chronicle

The Companies and Markets show: Aviation chaos and the future of food

10 Jun 2022

Contributed by Lukas

Passenger numbers may be up at Wizz Air but the losses keep on coming, so what's the story? Madeleine Taylor joins the pod to decipher our result of t...

Bearbull: If everyone’s so bearish, why isn’t the market weaker?

08 Jun 2022

Contributed by Lukas

The lesser-spotted Bearbull columnist has agreed that if ever there was a time IC listeners needed to hear his views, it might be now. In this in...

Ben Rogoff: Everything's for sale

01 Jun 2022

Contributed by Lukas

The first five months of the year have been terrible for tech investors, but over the past week performance has improved. Are we in a bear market rall...

The Companies and Markets show: Reacting to the UK's energy windfall tax + M&S and SIPPS

27 May 2022

Contributed by Lukas

A government U-turn has seen a windfall tax finally imposed on oil and gas companies, but what are the implications for investors? Also retail writer ...

Peter Spiller: It’d be foolish to be confident because this world is so fragile

25 May 2022

Contributed by Lukas

With UK inflation reaching a 40-year high of 9 per cent, the Bank of England base rate lagging at just 1 per cent and the global stock market falling ...

The Companies and Markets show: BT, Vodafone, and have supply chains changed forever?

20 May 2022

Contributed by Lukas

Arthur Sants returns to the Companies and Markets show to breakdown results for Vodafone and BT, before the panel ask what next for supply chains amid...

Chris Dillow’s parting words of wisdom

18 May 2022

Contributed by Lukas

As Investors' Chronicle struggles to come to terms with losing its veteran economist Chris Dillow to retirement, he shares the most important lessons ...

The Companies and Markets show: Talking rubbish

13 May 2022

Contributed by Lukas

On this episode of the Companies and Markets show, Mark Robinson talks us through his long-read on waste management and the opportunities therein, and...

Tim Levene: Valuation is a topic of great debate in fintech

11 May 2022

Contributed by Lukas

Fintech has boomed in recent years but a flood of money into the sector has spurred concern that some companies will struggle to grow into lofty valua...

The Companies and Markets show: Deflating the warehouse bubble

06 May 2022

Contributed by Lukas

The Companies and Markets show returns to discuss Sainsbury's as our result of the week, before diving into Alex Newman's latest long read on Warren B...

Professor Russell Napier: The equity index fund is a dangerous product

04 May 2022

Contributed by Lukas

The outbreak of Covid-19 sparked a transformation in monetary policy, according to Professor Russell Napier, with governments now effectively controll...

The Companies and Markets show: The FTSE 350 review + Twitter liberated?

29 Apr 2022

Contributed by Lukas

The Companies and Market show returns to discuss Elon Musk's $44bn deal to buy Twitter and ask what it means for Tesla investors. Then our panel give ...

Ken Wotton: Volatility is throwing up really interesting opportunities

27 Apr 2022

Contributed by Lukas

UK small caps have struggled against their larger cap peers in recent months, but if you can avoid the banana skins there are some very attractive ent...

The Companies and Markets show: What are miners going to do with all their cash?

14 Apr 2022

Contributed by Lukas

Retail writer Madeleine Taylor joins the Companies and Markets show to talk through our result of the week: Asos.Then Alex Hamer is also on hand to br...

The Companies and Markets show: Inflation-proof companies and Musk buys Twitter

08 Apr 2022

Contributed by Lukas

In this week's episode of the Companies and Markets show Belvoir is our result of the week following a solid earnings report, Elon Musk buys a seat on...

The Companies and Markets show: Bellway, Burford, and Tesco

01 Apr 2022

Contributed by Lukas

Alex Newman, Mark Robinson and Jemma Slingo join the Companies and Markets panel to discuss our result of the week, UK housebuilder Bellway, before di...

Sebastian Lyon: I think we’re in a regime change vis-à-vis inflation

30 Mar 2022

Contributed by Lukas

Inflation is making real returns harder to come by, eroding the value of cash and creating a tougher outlook for equities, particularly ‘growth’ s...

The Companies and Markets show: Buffett buys again and Spring Statement reactions

25 Mar 2022

Contributed by Lukas

Alex Newman, Mark Robinson and Julian Hofmann returns to breakdown chancellor Rishi Sunak's spring statement and Warren Buffett's latest $12bn purchas...

Paul Major: A transformation of healthcare is an inevitable reality

23 Mar 2022

Contributed by Lukas

Paul Major, manager of Bellevue Healthcare Trust (BBH), believes the future of healthcare will be very different from what we have today and looks to ...

The Companies and Markets show: Commodities crisis continues

18 Mar 2022

Contributed by Lukas

Alex Hamer joins the Companies and Markets roundtable to discuss the ongoing commodities crisis caused by the war in Ukraine, including some of the mo...

Isa investing in turbulent markets

14 Mar 2022

Contributed by Lukas

With little more than three weeks left until the end of the tax year, make sure you’ve used up as much of your Individual Savings Account allowance ...

The Companies and Markets show: Why is the FTSE 100 weighted towards value?

11 Mar 2022

Contributed by Lukas

On the Companies and Markets show this week Mary McDougall joins Alex Newman and Julian Hofmann to discuss the changing face of ESG, volatility in Rus...

Getting portfolio construction and asset allocation right

07 Mar 2022

Contributed by Lukas

There’s no one correct way to set up an investment portfolio but there are several pitfalls to avoid so you don’t leave yourself over exposed, or ...

Companies and Markets show: Defence shares profit from NATO spending

04 Mar 2022

Contributed by Lukas

Investors' Chronicle staff Michael Fahy and Arthur Sants join regulars Mark Robinson and Julian Hofmann to discuss the continued market effects of the...

Janus Henderson's Neil Hermon: Growth at any price is not acceptable

02 Mar 2022

Contributed by Lukas

Like other growth-oriented portflios, Henderson Smaller Companies (HSL) has had a difficult start to the year amid concerns about monetary t...

The biases that matter

28 Feb 2022

Contributed by Lukas

Being a successful investor has as much to do with your behaviour as it does with studying annual reports. As Morgan Housel puts it in his brilliant b...

The Companies and Markets show: Ramifications of Russia's invasion

25 Feb 2022

Contributed by Lukas

Alex Newman, Jemma Slingo, and Mark Robinson discuss some of the economic ramifications of Russia's invasion of Ukraine, before touching briefly on th...

Chris Dillow: There's a wisdom in crowds

23 Feb 2022

Contributed by Lukas

The IC’s favourite economist Chris Dillow is back on the podcast this week! He talks through what leading indicators are telling us about prospects ...

Navigating the sustainable investing labyrinth

21 Feb 2022

Contributed by Lukas

For many people, investing in a way to help make the world a better place is a priority. But as sustainable investing has exploded in popularity, so h...

William Green: Lessons from the world's greatest investors

16 Feb 2022

Contributed by Lukas

William Green has interviewed slews of the world’s most legendary investors from John Templeton to Charlie Munger and synthesised what we can learn ...

How much exposure should I have to overseas equities?

14 Feb 2022

Contributed by Lukas

When putting together an investment portfolio, for an optimal risk / return profile you’ll want significant exposure to overseas stocks. The UK now ...

Partner Content: Separating The Wheat From The Chaff

09 Feb 2022

Contributed by Lukas

As 2021 fades in the memory, the spectre of inflation is firmly on investors’ minds and Simon Gergel gives his view on what that may mean for market...

Buying shares: how do I know if the price is right?

07 Feb 2022

Contributed by Lukas

Buying shares can be much more risky than buying funds, but get it right and the returns can be greater too. In the fifth episode of our investin...

Nick Train: Undervalued quality could do extraordinarily well

03 Feb 2022

Contributed by Lukas

Nick Train’s stock picking success over the past 30 years has made him one of the UK’s best known fund managers. But over the past 12 months both ...

Navigating ETFs, investment trusts and unlisted funds

31 Jan 2022

Contributed by Lukas

Investment funds are the core of most private investor portfolios and are suitable for everyone, regardless of your level of knowledge. The tricky thi...

Rathbones' James Thomson: I'm not going to value-wash my fund

27 Jan 2022

Contributed by Lukas

The opening weeks of 2022 have proved difficult for some of the most popular funds and Rathbone Global Opportunities (GB00B7FQLN12) is ...

Partner Content: Taking stock of 2021

25 Jan 2022

Contributed by Lukas

With a new year upon us, Walter Price and Mike Seidenberg of Allianz Technology Trust joined host Cherry Reynard late in December to look at some of t...

ISA or pension? Make the most out of tax wrappers

24 Jan 2022

Contributed by Lukas

Investors and savers take note. Tax wrappers can make a huge difference to the value of your savings over time. You have two main options: put mo...

Stuart Widdowson: Applying a PE mindset to UK small caps

20 Jan 2022

Contributed by Lukas

Few UK small cap investment trusts trade on a premium to their net assets, but Odyssean Investment Trust is currently one of them. In this interview, ...

I want to invest. What are my options?

17 Jan 2022

Contributed by Lukas

Wild stock market movements such as those seen with ‘meme’ stocks last year make investing look like an exciting or treacherous roller coaster - d...

Simon Thompson: Secrets of successful investing

14 Jan 2022

Contributed by Lukas

We’re kicking off 2022 with a double interview. Firstly, everyone’s favourite stock picking expert Simon Thompson is on the pod to discuss the fea...

Why you should invest

10 Jan 2022

Contributed by Lukas

Do you want to kickstart the year by sorting out your finances? Frightened of the stock market and unsure where to start? Investing can seem comp...

Alex Wright: “Fundamentals look really strong, particularly in the consumer area”

15 Dec 2021

Contributed by Lukas

Being a contrarian investor has been a tough gig over much of the past decade but Alex Wright, manager of Fidelity Special Values (FSV) and Fidelity S...

Oakley's Steven Tredget: "Most private equity is now a force for good"

08 Dec 2021

Contributed by Lukas

The private equity sector may have generated very strong returns in recent history but many investors are yet to be won over. That's one interpretatio...

Terry Smith: “The problem is most people don’t read the accounts”

01 Dec 2021

Contributed by Lukas

Terry Smith, founder and chief executive of Fundsmith, has built the UK’s largest actively-managed fund via rigorous implementation of the simple ma...

Ian Mortimer and Matthew Page: “Some companies can immediately pass on prices"

25 Nov 2021

Contributed by Lukas

Ian Mortimer and Matthew Page, managers of the Guinness Global Equity Income fund, take a different approach from some income managers by seeking...

Sam Cosh: Bucking the income trend with smaller company growth

17 Nov 2021

Contributed by Lukas

Sam Cosh, manager of European Assets Trust (EAT), tells Leonora Walters why this trust is able to increase its dividend for 2021, and profiles some of...

Partner Content: Connected Investor Podcast - A Crack in the China

15 Nov 2021

Contributed by Lukas

The latest episode of Connected Investor, the podcast from the Brunner Investment Trust, ponders the issue of tightening regulatory factors in China –...

Iain McCombie: “It’s a myth that you can’t find interesting companies in the UK”

10 Nov 2021

Contributed by Lukas

Iain McCombie, manager of Baillie Gifford UK Growth Trust tells Mary McDougall how he tries to source the best growth opportunities among UK stocks an...

Hamish Baillie: “Financial repression is going to be the path forward”

27 Oct 2021

Contributed by Lukas

In the latest budget, Chancellor Rishi Sunak opened by stating that the UK’s public finances are twice as sensitive to changes in interest rates as ...

Dr Paul Jourdan: "Lots of people love to knock Aim. I'm absolutely not in that camp"

20 Oct 2021

Contributed by Lukas

Paul Jourdan, CEO of Amati Global Investors, tells Christopher Akers why he thinks the Alternative Investment Market is an asset of national importanc...

Nick Brind: “Banks are one of the biggest beneficiaries of a rise in interest rates”

13 Oct 2021

Contributed by Lukas

Financials make up around 15 per cent of global equities, and despite a recent surge the sector remains at a significant discount to the wider market....

David Cornell: “The ability to compound earnings in India is really very exciting”

06 Oct 2021

Contributed by Lukas

The Indian stock market has been on a tear this year, up 30 per cent for the year to 6 October. While this has led to some concern about lofty valuati...

Simon Brewer: “I think central banks are engaging in some wishful thinking”

30 Sep 2021

Contributed by Lukas

Simon Brewer, former chief investment officer of the European branch of Morgan Stanley, tells Mary McDougall where he thinks investors should look in ...

Blake Hutchins: Looking for “dividend champions of the future”

23 Sep 2021

Contributed by Lukas

Blake Hutchins, co-manager of Troy Income & Growth Trust and Trojan Income Fund, explains where he has been finding UK equity income in a dif...

Chris Dillow: “I’ve never understood the idea that market timing doesn’t work”

15 Sep 2021

Contributed by Lukas

Investors' Chronicle's economist Chris Dillow tells Mary McDougall why he’s not worried about prolonged inflation and why he thinks the central bank...

Azeem Azhar: "The best deep tech funds are heavily oversubscribed"

08 Sep 2021

Contributed by Lukas

Azeem Azhar is a renowned thought-leader, entrepreneur and investor in the tech industry. In this podcast, he talks to Lauren Almeida about the expone...

Somerset's Mark Williams: China crackdown "a reality check rather than a change"

01 Sep 2021

Contributed by Lukas

From internet giants like Alibaba (US:BABA) to education and property companies, the recent regulatory crackdown in China has sent many lead...

Jason Hollands: “Most fund companies have some disappointing funds”

25 Aug 2021

Contributed by Lukas

Active fund managers have gradually been losing market share to cheaper, passive alternatives. Yet the best active funds have significantly outperform...

Partner content: Silicon Valley byte size - Enter the golden age

25 Aug 2021

Contributed by Lukas

This podcast episode from Allianz Technology Trust, looks at the ‘new normal’ post-pandemic where remote working will mix with on-site working whe...

Nick Greenwood: “There’s always something coming in and out of favour”

19 Aug 2021

Contributed by Lukas

There are lots of reasons why investment trusts swing to discounts, and spotting those that might soon tighten can significantly boost shareholder ret...

Chrysalis' managers: “We want as vibrant IPO market as possible”

11 Aug 2021

Contributed by Lukas

Chrysalis Investments (CHRY) has made considerable gains by backing a small number of rapid growth companies, with a heavy weighting in fintech.In thi...

Lord Macpherson: "We're all addicted to consumption and housing inflation"

06 Aug 2021

Contributed by Lukas

The stimulus needed to support the economy over the pandemic has caused a spike in public debt and rising inflation fears. To help make sense of what ...

Temple Bar's Lance and Purves: "Dixons Carphone has a better market position than Amazon"

04 Aug 2021

Contributed by Lukas

Temple Bar Investment Trust (TMPL) has surged ahead in the last year but its focus on "old economy" UK stocks may be off-putting for some. In this int...

Partner Content: A Value View Podcast – The UK Five Years on

02 Aug 2021

Contributed by Lukas

In this podcast episode from The Merchants Trust, portfolio manager Simon Gergel looks back over the five years since the Brexit referendum where many...

Tim Creed: Woodford Patient Capital overhaul is "often two steps forward, one step back"

28 Jul 2021

Contributed by Lukas

Tim Creed and his colleagues certainly have their hands full, having taken over the former Woodford Patient Capital trust in 2019. They also work...

Hugh Sergeant: "We're pretty close to the bottom of the cycle again"

21 Jul 2021

Contributed by Lukas

As a dedicated value investor, River & Mercantile fund manager Hugh Sergeant has perhaps unsurprisingly made big gains from the cyclical rally of ...

Karl Sternberg: “People believe too much in central banks”

15 Jul 2021

Contributed by Lukas

As inflation rises, inventors are questioning if central bankers are right that inflation will only be transitory. Today’s podcast guest - Karl Ster...

James De Uphaugh: "We like companies to stay public, bar a stupendously compelling offer"

09 Jul 2021

Contributed by Lukas

James De Uphaugh and his team might have questioned their luck when they took over the running of the Edinburgh Investment Trust in March 20...

Thematics, ESG and value: a delve into the ETF market

07 Jul 2021

Contributed by Lukas

In this interview, Charles Stanley head of passives Lynn Hutchinson and Morningstar passive strategies analyst Briegel Leitao talk to Dave Baxter abou...

Jamie Ross: “The US looks far more expensive than Europe”

30 Jun 2021

Contributed by Lukas

Europe can be overlooked by investors, but following encouraging economic data, significant fiscal expansion and a slew of companies beating earnings ...

Stephen Yiu: “We don’t feel any of our companies are overvalued”

23 Jun 2021

Contributed by Lukas

Stephen Yiu, manager of Blue Whale Growth Fund, tells Mary McDougall how he constructs a concentrated portfolio of companies he believes are very high...

Nick Kirrage: Looking where others “don’t, won’t or can’t”

16 Jun 2021

Contributed by Lukas

Nick Kirrage and Simon Adler, managers of Schroder Global Recovery Fund and Schroder Recovery Fund, tell Leonora Walters about their approach to value...

Frederik Gregaard: How the world could be built on blockchain

11 Jun 2021

Contributed by Lukas

There's a lot of hype around crypto, but blockchain technology is in its infancy - and has the potential to overhaul how we do business. In this inter...

Adrian Lim: “We see pockets of opportunities in recovery stories”

09 Jun 2021

Contributed by Lukas

Adrian Lim and Pruksa Iamthongthong, co-managers of Asia Dragon Trust (DGN), tell Mary McDougall what they have been buying and selling as vaccination...

Connected Investor Podcast – A Different Approach

08 Jun 2021

Contributed by Lukas

In this podcast episode from The Brunner Investment Trust, a three-part discussion covers; recent developments in volatile markets, how a different ap...

James Henderson: "Overseas buyers are entering the UK"

02 Jun 2021

Contributed by Lukas

Janus Henderson's James Henderson tells Mary McDougall where he thinks the best value is in the UK stock market, what his favourite holdings are, how ...

IC Interviews: How Liontrust's new investment trust will shape up

21 May 2021

Contributed by Lukas

In this interview, three fund managers from Liontrust’s Sustainable Future investment team tell Dave Baxter how a planned ESG investment trust will ...

IC Interviews: Mobius Investment Trust's Carlos Hardenberg

14 May 2021

Contributed by Lukas

Emerging markets are not associated with high environmental, social and governance (ESG) standards but Mobius Investment Trust applies this kind of in...

Charles Plowden: "It is too simplistic to say Baillie Gifford stocks are expensive - we don't think they are"

30 Apr 2021

Contributed by Lukas

Baillie Gifford has delivered some tremendous returns to investors across a wide range of funds over a long period of time, and the man at the heart o...

Alpha podcast: An ill wind

26 Apr 2021

Contributed by Lukas

On this week's Alpha Podcast, Phil Oakley explains to John Hughman why he's growing more fearful of an inflation headwind for equities, and reveals on...

Ailsa Craig: “pharma used to have a worse reputation than tobacco”

20 Apr 2021

Contributed by Lukas

We’re all very grateful to the healthcare industry for the amazing work it has done to create vaccines and treatments to help fight the pandemic. Bu...

Alpha Podcast: Top of the shops

16 Apr 2021

Contributed by Lukas

On this week's Alpha Podcast, John Hughman and Phil Oakley ask whether asset price bubbles are forming everywhere, and assess the prospects for three ...

Not your normal finance show: The Amazon effect

25 Mar 2021

Contributed by Lukas

A cashless, cashier-less supermarket experience. Simply walk in, load up your bags, and walk out, without any queuing, fumbling for wallets or human i...

Alpha Podcast: Trolls and tonic

22 Mar 2021

Contributed by Lukas

Shares in Games Workshop and Fevertree Drinks both took a tumble last week, but which one does Phil think is most likely to bounce back? Find out...

Alpha Podcast: Food for thought

12 Mar 2021

Contributed by Lukas

On this week's Alpha Podcast John Hughman and Phil Oakley explain how Morrison's is shaping up into an online grocery powerhouse, why life in an uber-...

Not your normal finance show: Streaming wars

03 Mar 2021

Contributed by Lukas

The streaming industry has some big names at the top, with Netflix and Amazon Prime both boasting over 150 million worldwide subscribers each. But tha...

Baruch Lev: “Financial reports are irrelevant”

26 Feb 2021

Contributed by Lukas

Professor Baruch Lev is the soothingly eloquent voice of reason in a world of accounting which is becoming increasingly unhelpful. He - and the IC’s...

Not your normal finance show: Fast cars and faster businesses

24 Feb 2021

Contributed by Lukas

With nearly 40 million cars on the road, the UK motoring business is worth around £80bn. And that is just a fraction of the global market: between au...

Alpha Podcast: Down but not out

19 Feb 2021

Contributed by Lukas

On this week's Alpha podcast, John and Phil talk cigarettes, streaming and snacks, and why tricky times for BATS, Disney and PepsiCo might now mean op...

Chocoholoics!

17 Feb 2021

Contributed by Lukas

The UK loves chocolate - the average Brit eats around 8kg of chocolate a year. And we’re not the only ones. The chocolate industry is worth over $10...

Screen test

12 Feb 2021

Contributed by Lukas

On this week's Alpha podcast, John Hughman chats to Algy Hall about the thinking behind his Alpha stock screens, why recent data suggests UK shares co...

Vilhelm German: Bitcoin - "The big players, without making too much noise, are preparing their guns"

10 Feb 2021

Contributed by Lukas

What's a sensible proportion of your portfolio to invest in Bitcoin and other crypto assets? James Norrington speaks to Vilhelm German, Chief Technolo...

Not Your Normal Finance Show: Crypto crazy

10 Feb 2021

Contributed by Lukas

On the week's Not Your Normal Finance Show we visit the volatile world of cryptocurrencies, and the most famous of them all: bitcoin. John Hughman spe...

Dale Nicholls: “There’s still a lot of value in China”

05 Feb 2021

Contributed by Lukas

China is a market that investors simply cannot ignore. Despite being the epicentre of the pandemic and at the helm of geopolitical tensions, it had th...

Alpha Podcast: Bubble trouble

29 Jan 2021

Contributed by Lukas

On this week's Alpha Podcast John and Phil reminisce about their dotcom boom days and the bubble-like behaviour of today's markets, and why ...

Keeping healthy

27 Jan 2021

Contributed by Lukas

It’s been a mixed year for the health and fitness industry. On the one hand, gyms, clubs, and pools have all had prolonged periods of closure, but o...

Alpha Podcast: Staying Positive

22 Jan 2021

Contributed by Lukas

On this week's Alpha podcast John and Phil go on the hunt for more shares with the feelgood factor, despite some worrying words in Terry Smith's lates...

Trumped by Twitter

20 Jan 2021

Contributed by Lukas

Donald Trump’s ban from Twitter, Facebook and Snapchat has put private media groups under the spotlight. Were they right to do it? Should social med...

Alpha podcast: Lockdown winners

15 Jan 2021

Contributed by Lukas

On this week's Alpha Podcast John Hughman and Phil Oakley talk about the prospects for three companies that have seen business boom as a result of Cov...