Many Happy Returns

Britain's Slow-Motion House Price Crash

29 Apr 2026

Contributed by Lukas

For two decades, calling a UK house price crash has been a reliable way to look clever and be wrong. But while nominal prices have barely moved, a slo...

Making Sense of a Weird Market: Record Highs, Sticky Inflation, and Silent Alarms

22 Apr 2026

Contributed by Lukas

Stocks have rallied to record highs while the Iran war is merely paused, oil prices are elevated, and inflation remains sticky. But while equity inves...

Do Your Own Research: What Real Investment Research Actually Looks Like

15 Apr 2026

Contributed by Lukas

"Do Your Own Research" is one of the most parroted phrases in investing — slapped on every stock tip, TikTok video and crypto tweet. But what does g...

Statistical Sleight of Hand: How Good Numbers Hide Bad Investments

08 Apr 2026

Contributed by Lukas

The investing world runs on numbers. We look at the statistical tricks that make bad investments look good, mediocre track records look brilliant, and...

Shopping the Drop: Is Anything Actually Cheap?

01 Apr 2026

Contributed by Lukas

After weeks of market turmoil, asset prices across the board are lower than they were. But is anything actually cheap yet? We grab our valuation toolk...

Your Portfolio Wasn't Built for This

25 Mar 2026

Contributed by Lukas

Your portfolio was probably designed for falling interest rates and cheap oil. That is no longer the world we live in. Equity indices have minimal ene...

The War of Unintended Consequences: Oil, Inflation, and Interest Rates

18 Mar 2026

Contributed by Lukas

You've seen the oil price soar. But crude is just the start—the Iran conflict is sending shockwaves through natural gas, fertiliser, helium and a ho...

Damien Talks Money: What Investors Click vs. What They Need

11 Mar 2026

Contributed by Lukas

What does popular finance content reveal about everyday investors? Damien Jordan from Damien Talks Money joins us to explore the gap between the video...

Capital Preservation: The Art of Not Losing Money, with Jasmine Yeo from Ruffer

04 Mar 2026

Contributed by Lukas

No one likes to lose money. And some funds are designed to deliver a positive return whether markets go up, down, or sideways. Sounds easy. It isn't. ...

The Tariffs Are Dead. Long Live the Tariffs.

25 Feb 2026

Contributed by Lukas

The US Supreme Court struck down Trump's tariffs in a landmark 6-3 ruling, and Trump responded by immediately imposing new ones under a different law....

Crypto Winter 2.0: Be Careful What You Wish For?

18 Feb 2026

Contributed by Lukas

Bitcoin has had everything going for it: a crypto-friendly president, ETF approval, congressional legislation, institutional adoption, a strategic res...

Kiss Your SaaS Goodbye: The AI Threat to Software Stocks

11 Feb 2026

Contributed by Lukas

A trillion dollars was wiped off software stocks after Anthropic released an AI legal tool. Suddenly the market is asking: if AI agents can do the wor...

Gold & Silver Crash: Is Bullion’s Bull Run Over?

04 Feb 2026

Contributed by Lukas

After an incredible run, gold and silver just suffered their worst day in over forty years. Gold fell 11%. Silver dropped 30%. So what caused the cras...

Vanguard Goes Global: Is Home Bias a Mistake?

28 Jan 2026

Contributed by Lukas

After a decade of UK underperformance, Vanguard is going global. The UK’s most popular fund range is dialling back the domestic tilt, and launching ...

Does Europe Have the Financial Firepower to Stand Up to Trump?

21 Jan 2026

Contributed by Lukas

President Trump is threatening tariffs on eight NATO allies to force a deal on Greenland. Europe says it isn’t for sale. So what happens when an imm...

Investing in Crazy Times: Should You Carry on as Normal?

14 Jan 2026

Contributed by Lukas

The US has captured Venezuela’s president, the White House is openly threatening to invade a NATO ally, and the Fed Chair is under politically-motiv...

Investing vs. Gambling: How to Tell the Difference

07 Jan 2026

Contributed by Lukas

Where does investing end and gambling begin? From Premium Bonds to meme stocks to deep-out-of-the-money options, today’s markets are full of bets th...

2026 Watchlist: Trends That Could Shape the Year Ahead

31 Dec 2025

Contributed by Lukas

2026 is here, and markets are shifting in surprising ways. From jobless growth to energy gluts, we look at the trends that could shape the global econ...

10 Investing Facts That Can't be True (But Are)

24 Dec 2025

Contributed by Lukas

We challenge your assumptions about stocks, property, economic growth and more, with ten facts that seem impossible—but aren't. Stocks beat cash, ri...

The Naughty List: Assets That Misbehaved in 2025

17 Dec 2025

Contributed by Lukas

Which assets made The Naughty List this year? Some of 2025's most confident calls turned into cautionary tales—from momentum trades that stalled to ...

The 2025 Stress Test: The Banks Are Safe... Are You?

10 Dec 2025

Contributed by Lukas

The Bank of England has just released the results of its 2025 stress test. In their nightmare scenario, inflation surges, house prices tumble, markets...

Devil in the Details: Is the Budget Worse Than Imagined for Investors?

03 Dec 2025

Contributed by Lukas

Buried in the Budget’s “boring” fine print is a sweeping overhaul of ISAs, new stealth taxes, and rule changes designed to squeeze anyone living...

The Physics of Financial Markets

26 Nov 2025

Contributed by Lukas

Do the hard laws of thermodynamics apply to your money? What can avalanches, boiling water, and quantum mechanics teach us about markets? We explore w...

How to Pick Your Perfect Portfolio, with Tyler from Portfolio Charts

19 Nov 2025

Contributed by Lukas

Designing an investment portfolio that matches your goals is hard. Sticking with it through thick and thin is even harder. Today, we’re delighted to...

FIRE Drill: Is Financial Independence Still Possible?

12 Nov 2025

Contributed by Lukas

You've done the maths. You've cut the lattes. You've maxed the ISA. And you're still decades away from financial freedom. So how are some people retir...

So You’ve Decided to Time the Market…

05 Nov 2025

Contributed by Lukas

You already know you’re not supposed to time the market… and yet here you are, hovering over the “sell” button because everyone’s yelling ab...

Beyond the Gloom: The UK's Hidden Stock Winners, with Ed Croft

29 Oct 2025

Contributed by Lukas

The UK stock market has traded at a discount for years. But amid the negative sentiment, some sectors have quietly defied the gloom. We’re joined by...

The Debasement Trade: Faith, Fear, and the Fall of Fiat?

22 Oct 2025

Contributed by Lukas

Gold has surged 50% this year, silver even more, while the dollar has slumped 9%. Behind the rally lies a powerful narrative: that mounting government...

Closed-Circuit Capitalism: Inside AI’s Trillion-Dollar Money Loop

15 Oct 2025

Contributed by Lukas

The AI boom is feeding on itself. Chipmakers, cloud giants, and model makers are increasingly tangled in a web of investments — each funding the oth...

The Unbalanced Sheet: What Is Your Net Worth, Really?

08 Oct 2025

Contributed by Lukas

On paper, your net worth is simple: assets minus liabilities. But what counts as an asset? How do you value things you can’t easily sell? And is the...

What I’ve Learned: Keeping Your Portfolio (and Yourself) on Track

01 Oct 2025

Contributed by Lukas

I’ve helped thousands of people to review their investment portfolios and check whether it’s truly aligned with their goals. Over and over, I see ...

Cash on the Sidelines: Are Brits Scared to Invest?

25 Sep 2025

Contributed by Lukas

Brits poured more than £100 billion into ISAs last year — yet two-thirds is just sitting in cash. Are we simply risk-averse or are there structural...

Gold is a Terrible Investment (And Why You Should Own It)

17 Sep 2025

Contributed by Lukas

Gold is a terrible investment. No earnings, no dividends, and long stretches where you trail stocks and bonds. So why do serious investors still own i...

Stick or Twist: Should You Second Guess the Autumn Budget?

10 Sep 2025

Contributed by Lukas

Speculation is swirling about what tax changes the chancellor might unveil in the Autumn Budget. But with the announcement still more than two months ...

Stocks vs. Bonds: Who Wins the Next Decade?

03 Sep 2025

Contributed by Lukas

Stocks are expensive, bonds are finally interesting, and suddenly the boring part of your portfolio doesn’t look so boring. With serious forecasters...

The Visible Hand: Is America Abandoning Free-Market Capitalism?

27 Aug 2025

Contributed by Lukas

Washington seems to have moved from referee to player—picking winners, slapping tariffs on strategic exports, and even taking golden shares in criti...

FCA Lifts the Ban: UK Investors Can Buy Crypto ETNs—But Should You?

20 Aug 2025

Contributed by Lukas

The ban is over! From 8 October 2025, UK retail investors can buy exchange traded crypto products — potentially in an ISA or SIPP. So why has the FC...

Has Trump Won the Trade War?

13 Aug 2025

Contributed by Lukas

Four months after Trump shocked markets with sweeping tariffs, the results are in: new trade deals tilted toward American interests, a resilient econo...

Can We Still Trust the Economic Data?

06 Aug 2025

Contributed by Lukas

Investors and policymakers count on official statistics to stay grounded. But recent blunders in the UK and growing politicisation in the US have shak...

The Everything Bubble: What Could Possibly Go Wrong?

30 Jul 2025

Contributed by Lukas

The S&P 500 is pushing dot-com era valuations. Bitcoin’s smashing records. Meme stocks have risen from the dead. And AI start-ups are landing bi...

The Unicorn Farm: Betting on AI Startups

23 Jul 2025

Contributed by Lukas

Global venture capital firms poured $126 billion into early-stage startups in the first quarter — and almost 60% went into AI companies. We look at ...

Why Can't I Retire Early?!

16 Jul 2025

Contributed by Lukas

The dream of an early retirement is a powerful motivator for many investors. But often it remains just that: a dream. So what’s holding people back?...

Is the UK Stock Market Dying?

09 Jul 2025

Contributed by Lukas

The UK stock market is shrinking. Since 2007, the number of listed companies has fallen by 45%, and those that remain trade at stubbornly low valuatio...

Neural Net Worth: What If AI Isn’t a Bubble?

02 Jul 2025

Contributed by Lukas

AI stocks are soaring. Valuations are stretched and capital spending is off the charts. To many, it smells like a bubble. But what if it’s not? What...

Fragile Ceasefire: Are Markets Complacent?

25 Jun 2025

Contributed by Lukas

President Trump announced a ceasefire in the war between Israel and Iran. Markets reacted swiftly: stocks rallied, oil plunged, the dollar and gold sl...

Crash Course: The Scariest Days in Stock Market History

18 Jun 2025

Contributed by Lukas

Stock markets tend to go up over time — but every so often, they fall off a cliff. Some crashes are brief and recover quickly, while others shake th...

Outsmarting the Index: Strategies That (Sometimes) Work for Active Funds

11 Jun 2025

Contributed by Lukas

Beating the benchmark is the holy grail of active management — but it’s notoriously difficult and rare. Still, against the odds, a handful of port...

Section 899: America’s Revenge Tax on International Investors

04 Jun 2025

Contributed by Lukas

The US is gearing up to turn a trade war into a capital war. Trump’s signature fiscal bill proposes retaliatory levies on investors from countries t...

ISAs Under Review: Will Cash Savings Get Capped?

28 May 2025

Contributed by Lukas

Big changes could be coming to ISAs — the tax-free savings wrapper used by 22 million Brits. Chancellor Rachel Reeves is preparing a major review of...

Know Thyself: How Risk-Tolerant Are You Really?

21 May 2025

Contributed by Lukas

We all like to think we can handle a little risk – until the market drops 20% and we’re refreshing our portfolio every ten minutes. Understanding ...

When the Free Lunch Bites Back: Navigating Changing Asset Correlations

14 May 2025

Contributed by Lukas

Diversification is famously the only free lunch in investing. But when asset correlations shift, that meal might come with an unexpected bill. Economi...

Buffett Bows Out: Can Berkshire Thrive Without Him?

07 May 2025

Contributed by Lukas

After six decades at the helm, Warren Buffett has announced he’ll step down as CEO of Berkshire Hathaway later this year. But as the Oracle of Omaha...

100 Days Down: Making Sense of Trump's Market Shockwaves, with Katie Martin

30 Apr 2025

Contributed by Lukas

Trump’s return to the White House is already reshaping the global order — sending shockwaves through financial markets. Asset prices have tumbled,...

What to Buy in Your ISA In 2025: Is This Year Different?

23 Apr 2025

Contributed by Lukas

It’s April—ISA season is here. But what should you buy? Should you stick with a classic index fund, or is there a case for doing something differe...

Stars and Strife: Is This the End of American Exceptionalism?

16 Apr 2025

Contributed by Lukas

America’s economic dynamism, deep capital markets, and stellar equity returns have long made it the top destination for capital. But with US stocks,...

The Orange Swan: Surviving the $10 Trillion Selloff

09 Apr 2025

Contributed by Lukas

Global stock markets have plunged, wiping out nearly $10 trillion in market value. As the fallout from Trump’s tariff bombshell spreads, investors a...

The Trillion Pound Question: Is Government Debt Out of Control?

02 Apr 2025

Contributed by Lukas

National debt figures are staggering, running to trillions of pounds in the UK and tens of trillions of dollars in the US. Headlines warn of unsustain...

Quid’s In: How Much Can You Invest Tax-Free?

26 Mar 2025

Contributed by Lukas

The UK tax year is about to end, and most people know about ISAs and pensions. But how much could you really invest tax-free if you made full use of e...

The Hidden Bull Market: The Stocks Defying the Gloom

19 Mar 2025

Contributed by Lukas

The S&P 500 entered a correction last week, dragged down by Big Tech. But not all sectors are struggling. From booming defence manufacturers to re...

New World Disorder: Investing Amid the Chaos

12 Mar 2025

Contributed by Lukas

The world order is being shaken to its core. Old alliances are fracturing, trade wars are escalating, the US economy is faltering, and Europe is rapid...

The Road to Wealth: 10 Financial Milestones Worth Celebrating

05 Mar 2025

Contributed by Lukas

Growing your wealth is a marathon, not a sprint. But it’s important to celebrate milestones you reach along the way. Let’s raise a glass to sheddi...

Whale Watching: What If the Biggest Investors Dump Their Holdings?

26 Feb 2025

Contributed by Lukas

When a big investor decides to sell, markets can move sharply. And some assets are particularly vulnerable, with ownership concentrated among a few la...

Wall Street Wisdom: The Truth Behind Investing Clichés

19 Feb 2025

Contributed by Lukas

Financial markets are awash with timeless wisdom, dubious anecdotes, and questionable ‘rules of thumb’. But how do we separate fact from fiction? ...

Are Your Investments Secretly Leveraged?

12 Feb 2025

Contributed by Lukas

Leverage is a double-edged sword that amplifies both gains and losses. But even if you haven’t borrowed to invest, hidden leverage may still lurk be...

Trade War Truce: Crisis Averted or Just Delayed?

05 Feb 2025

Contributed by Lukas

Donald Trump’s trade war has begun! Or has it? Markets breathed a sigh of relief as sweeping tariffs on Mexican and Canadian goods were suspended at...

Trump, Tariffs and AI: The Stories Shaping Markets in 2025

29 Jan 2025

Contributed by Lukas

Markets are unruly beasts, swayed by shifting narratives, sudden rumours, and ever-changing expectations. But a handful of all-important stories will ...

Meltdown: Scandal, Sleaze and the Collapse of Credit Suisse, with Duncan Mavin

22 Jan 2025

Contributed by Lukas

Credit Suisse’s collapse shook the global financial system, forcing regulators into a frantic search for solutions. We're joined by Duncan Mavin, au...

Soaring Gilt Yields and Strained Public Finances, with Simon French

15 Jan 2025

Contributed by Lukas

Gilt yields are surging, straining government finances and raising fears of tax rises or spending cuts. But is this a UK-specific problem? And will th...

Red Flags: China’s Economic Troubles, with George Magnus

08 Jan 2025

Contributed by Lukas

Since the sweeping reforms of the 1980s, China's rapid industrialisation and extraordinary growth have transformed it into a true global power. But th...

Jingle Bulls, Jingle Bears: Are Investors Overconfident Heading into 2025?

18 Dec 2024

Contributed by Lukas

Investor sentiment is more bullish than ever, with a record share of Americans expecting the S&P 500 to rise in 2025. Is this the peak of euphoria...

Emerging Markets: Risky Bet or the Next Big Bargain?

11 Dec 2024

Contributed by Lukas

Compared to developed countries, emerging markets have rarely looked cheaper. With valuations, economic growth, and demographic trends in their favour...

Kaput: The End of the German Miracle, with Wolfgang Münchau

04 Dec 2024

Contributed by Lukas

Germany is one of few Western countries to remain truly industrialised, boasting a massive manufacturing base and trade surplus. And yet, things have ...

Stoic Investing: Are We Worrying About the Wrong Things?

27 Nov 2024

Contributed by Lukas

Sensationalist headlines often lead to poor investment decisions, causing many investors to fixate on issues that have little impact on long-term retu...

Trump 2.0: Political Risk and Complacent Markets, with Economist Larry Hatheway

20 Nov 2024

Contributed by Lukas

Political risk is one of the most unquantifiable aspects of investing — and one of the most consequential. Shifts in regulation, tax and trade polic...

Maxed Out Markets: Investing When Everything Is Expensive

13 Nov 2024

Contributed by Lukas

How should you invest when everything is expensive? Stock market valuations are stretched, gold is up 40% on a year ago, and bitcoin has hit an all-ti...

Gilt Yields and Ghosts of Budgets Past: Who's Afraid of Bond Vigilantes?

06 Nov 2024

Contributed by Lukas

Gilt yields rose after the Autumn budget as markets absorbed sharp rises in investment, taxes and borrowing. Does Liz Truss’s mini-budget still haun...

Chance, Risk, and the Art of Uncertainty, with Sir David Spiegelhalter

30 Oct 2024

Contributed by Lukas

Investing is an uncertain journey, where chance, risk, and luck are constant companions. But can understanding probability help us live with the unkno...

Election Economics: Will A Trump Win Upend Markets?

23 Oct 2024

Contributed by Lukas

The US Presidential election is less than two weeks away, and the result hangs in the balance. While markets appear calm, a second Trump term could ha...

Time vs Money: How the Clock Transforms Your Investments

16 Oct 2024

Contributed by Lukas

Investing, at its core, is about postponing consumption in the belief that time is your friend. Yet time has powerful effects on all aspects of market...

Bracing for the Budget: Tax Rises, Black Holes & Growth, with Paul Johnson from the IFS

09 Oct 2024

Contributed by Lukas

Despite record tax revenues, Britain's public services are struggling. So what's gone wrong and how do we fix it? We sit down with Paul Johnson, Direc...

Beijing’s Big Gamble: Stock Markets Soar On China's Stimulus

02 Oct 2024

Contributed by Lukas

China’s economic boom has slowed as debt, deflation, and demographics weigh on the economy. Beijing belatedly announced a massive stimulus package, ...

Productivity Crisis: Is Europe A Basket Case?

25 Sep 2024

Contributed by Lukas

Europe has suffered relative decline in recent decades, beset by sluggish economic growth, ageing populations, and stagnant wages. Meanwhile, the succ...

Smart Ways to Stash Your Cash: Banks, Bonds & Money Market Funds

18 Sep 2024

Contributed by Lukas

Sometimes you need a safe place to stash your cash. Savings accounts, bonds and money market funds are all options but how can you maximise returns? A...

Confronting Uncertainty: Building a Financial Plan in an Uncertain World

11 Sep 2024

Contributed by Lukas

Creating a financial plan for your future requires estimating numerous unknown variables. How fast will your investments grow? How much will inflation...

Mean Reversion in Markets: What Goes Up Must Come Down?

04 Sep 2024

Contributed by Lukas

Mean reversion is one of the most powerful forces in financial markets. When returns, valuation or concentration rise to extreme levels, it’s usuall...

Boom and Bust: Ranking the Biggest Bubbles in History

28 Aug 2024

Contributed by Lukas

Asset bubbles are an occasional, inevitable, and sometimes devastating feature of financial markets, making and breaking fortunes along the way. But w...

The Default Pension Trap: What to Consider BEFORE You Switch Pension

21 Aug 2024

Contributed by Lukas

Nine out of ten people are invested in their employer’s default pension strategy. However, a hands-off approach might not suit your personal circums...

Volatility Trading: Making Money from Market Swings

14 Aug 2024

Contributed by Lukas

Volatility comes with the territory when owning risky assets, yet investors still seek ways to hedge against it—or even profit from it. So, how can ...

Market Mayhem: Flash Crash or Full Blown Crisis?

07 Aug 2024

Contributed by Lukas

Stock markets have been pummelled in recent days — is this is a flash crash or the start of something bigger? And why has fear spread so suddenly? W...

Metal of the Future: Has Copper Come A Cropper?

31 Jul 2024

Contributed by Lukas

Copper is integral to the global economy, and its importance will only increase as the world decarbonises its energy infrastructure. Bulls have long a...

Don't Get Burned: Avoid Single Points of Failure in Your Finances

24 Jul 2024

Contributed by Lukas

A botched software update hobbled IT systems around the world, grounding planes and taking TV stations off-air. But it’s not just computer systems t...

David vs Goliath: Small-Cap Stocks Finally Surge

17 Jul 2024

Contributed by Lukas

Last week saw a massive shift in markets, with unloved sectors and smaller stocks outperforming the mega-caps by a record amount. Is Big Tech’s domi...

UK House Prices: Is the Slump Over?

10 Jul 2024

Contributed by Lukas

After prices peaked two years ago, higher mortgage costs have caused the market to stall. But with rate cuts on the horizon, is normal service about t...

Home Country Bias: Should You Overweight Domestic Stocks?

03 Jul 2024

Contributed by Lukas

Diversification is the only free lunch in investing, yet many investors choose to overweight their domestic stock market. While the UK makes up a mere...

Mid-Year Market Update: Are Things As Good As They Seem?

26 Jun 2024

Contributed by Lukas

We’re halfway through the year, and it’s time to take stock. The AI narrative continues to power the equity bull market. Central banks have starte...

Will A Labour Government Be Good For Investors?

19 Jun 2024

Contributed by Lukas

Labour is 20 points ahead in the polls and looks set to form the next UK government. But how will their economic, tax and spending plans impact invest...

Interest Rate Cuts: Coming to a Central Bank Near You?

12 Jun 2024

Contributed by Lukas

Central banks in Europe and Canada cut interest rates for the first time since the pandemic, lowering borrowing costs and kicking off the easing cycle...

Trade Wars: How Will Tariffs on China Impact Your Investments?

05 Jun 2024

Contributed by Lukas

Should investors fear the escalating trade war between the world’s two biggest economies? US President Joe Biden recently announced a slew of new ta...

Building a Multi-Factor Stock Portfolio, with Ed Croft

29 May 2024

Contributed by Lukas

The evidence suggests that certain types of stock tend to beat the market in the long run. Patient investors can reap higher returns by tilting toward...

Bond Battle: Individual Bonds or Bond Funds?

22 May 2024

Contributed by Lukas

As interest rates have risen, more and more people are interested in buying bonds. Individual government bonds can be a useful tool to lock in a high ...