Investors' Chronicle

Dan Jones and the IC gang discuss the airline story that hit the headlines this week – Boeing’s (BOE) door blowout. Could this safety problem be the straw that breaks the camel's back? Michael Fahy and Alex Newman unpack what may lie ahead for the business, how its sole competitor Airbus (FR:AIR) might benefit, and whether other nations could end up competing against the two industry giants.This leads neatly into our segment on this week’s cover feature, ‘The winners and losers of a more fractured world’, written by IC economics expert Hermione Taylor. The piece is based on a future split in the global economy into two blocs, with the US and China spearheading each side. Hermione discusses examples of deglobalisation and protectionist policies we’re already witnessing, some middle ground and extreme implications if this were to occur, and Alex sheds light on US elections and the issues that may lie there.Lastly, Mark Robinson walks listeners through recruiters Hays’ (HAS) profit warning and Robert Walters’ (RWA) trading update. He shares how differences in geographic exposure explain each’s current trading, with some of Hays’ issues stemming from its exposure to Germany. Hermione also shares some data on the state of the labour markets, noting the effect of the pandemic on certain industries.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

In the first IC Interviews episode of 2024, deputy editor Dan Jones talks to beloved IC columnist, Bearbull.  For the past 25 years, Philip Ryland has sat at the Bearbull desk, keeping IC readers up to date with the Income Portfolio and sharing weekly analysis on the changing face of companies markets. This episode is Philip’s final contribution to the publication as he passes on the reins after his many years of service.In the podcast, Dan and Philip discuss diversifying away from the UK and the basis of portfolio construction, index-linked bonds, and more. Philip also shares the wisdom he has gathered from running an income fund and his experience with UK versus overseas shares.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

We welcome you to our first Companies and Markets Show podcast of 2024 with an analysis of recently released trading updates from British clothing retailers Next and JD Sports. Our team discuss how the two retailers compare and ponder the wider issues in the background that are contributing to their varying successes.It’s then on to the FTSE 100, which turned 40 on 3 January. The team unpack the recent performance of the index, questioning whether the significance of its poor performance might be overplayed, the UK versus the US narrative, and talk about the prospects for European equities in 2024.Last of all, Alex Newman touches on this week’s cover story – our Investment Ideas of the Year 2024 – explaining how the investments have been categorised, the themes of this year’s Ideas of the Year and what readers can expect from our Investment Ideas in the coming year.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

Instead of a deep dive into one company, in our final episode of 2023, Lord Lee and Alex begin with an end-of-year audit of five holdings in Lord Lee’s portfolio. From a litigation financing firm to a beauty products maker to a bowling alley operator, Lord Lee shares the wins and losses he has experienced as a DIY investor.The pair also discuss his novel idea of using shares to encourage financial literacy amongst school-age children in the country. With “close to zero” financial literacy among pupils, his plan, which has garnered support from other MPs, could transform the investing landscape for future generations and increase financial responsibility. This episode was recorded on 21 December. Lord Lee: Give NatWest shares to schools to teach kidsInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

Our final episode of 2023 begins with IC property writer Mitchell Labiak discussing the merger of Reits LondonMetric (LMP) and LXI (LXI), which will allow them to compete with the industry’s biggest players such as British Land (BLND). Both have been called ‘sub-scale’, but what constitutes a sustainable Reit? Mitch also explores whether or not investors should prepare for similar activity in the coming year.Giving a sneak preview of a story included in our final edition of 2023, Val Cipriani reviews ESG funds’ performance this year. She explores why active funds, which ESG funds tend to be, have struggled, and highlights the best performers. Lastly, Val touches on what the new rules mean for investors.Last but not least, Jemma Slingo covers mechanical engineer Goodwin (GDWN). The company has a rich history, was founded in 1883 and is still majority-run by the Goodwin family. Recent results reveal a solid performance, even though it has distanced itself from its oil and gas heritage. Jemma explains where its revenues are now concentrated and what kind of value the shares offer.Merry Christmas and a Happy New Year from all of The Companies and Markets Show team.LondonMetric mulls LXi takeoverCan ESG funds bounce back?Exciting opportunities in the pipeline for GoodwinInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

We begin with the interest rate story that hit the headlines this week – the FCA’s warning to investment platforms, including AJ Bell and Hargreaves Lansdown, over their treatment of customers’ cash balances. Alex Newman and Val Cipriani discuss why AJ Bell’s share price fell and what investors should expect in the future.Jennifer Johnson follows with an analysis of whether the UK can become a biotech superpower. She reveals what is hampering the growth of the industry, including a lack of life science laboratory space, and shares a UK university spinout success story investors may find alluring.Last up, Alex Hamer discusses what’s driving the recent fall in the oil price, which is now at a two-year low. He explores the reasons for this, the effect Saudi Arabia’s change in tactics will have on the industry, and what investors should keep an eye on in the year ahead.AJ Bell reports 50% surge in profitsCan the UK become a biotech superpower?Oil in 2024 – will Opec's squeeze work?Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

In this latest episode we look deeper into some of the things that portfolio companies actually do. In particular, host Joe Lynam and Brunner’s co-lead portfolio manager Julian Bishop examine some of the extreme technology needed to create the world’s most powerful semiconductor chips. The term ‘cutting-edge’ may often be overused, but in this case the sheer physics of what is being achieved by some of the leading companies is, quite simply, astounding.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

The guest on our final IC Interview podcast of 2023 needs little introduction. Having been part of the Investors’ Chronicle team since the late 1990s, Simon Thompson is one of the most valued writers in our cohort. Covering 93 companies for the IC, Simon has invaluable experience and knowledge of the small-cap industry. In this episode he reflects on the past 12 months, and shares his predictions for the year ahead, the areas he’s paying close attention to and the sectors that appear most promising. By Simon Thompson: Four small-cap takeover targets to exploitInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

We begin with FTSE 100 equipment renting company Ashtead, which released interim figures in recent days. Jemma Slingo and Julian Hofmann delve into the numbers and explain the background of the issues the company has faced in terms of demand. They also touch on the future of the business in light of the possibility the US government will change hands in the coming year.Jemma also discusses the results of a different rental company, Redde Northgate. The 2020 merger between a replacement vehicle company and an accident management services business means the company still has some legacy issues weighing on it. Mark Robinson shares the standout qualities of the company, but do the drivers outweigh the cyclical risks? Lastly, Alex Newman talks listeners through our latest cover feature ‘Why it’s stockpickers time to beat the market’. He explores why active funds have performed so badly recently and spells out the argument that they might do better in future.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

After a 2-year post-pandemic inflation surge, the global economy eases from extensive fiscal and monetary interventions. Central banks reassess recession risks, signalling potential investment opportunities as volatility reawakensInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

We begin with Alex Newman who discusses the recent results of music equipment manufacturer Focusrite. The company’s growth and share price rocketed during the pandemic, but like many others, its stock price has plummeted since. Alex explains how the business can spur growth and analyses whether the buy-and-build strategy will help boost its valuation.Julian Hofmann then takes the reigns with consulting and administration business XPS Pensions, which is growing at an exponential rate. Strong fundamental drivers are behind this expansion, but Julian discusses whether its cost control is good enough given the higher expenses seen in the industry.Last but not least, we discuss our latest cover feature on profiting from the energy switch. Author James Norrington explains his motivation behind the piece, China’s dominance of supply chains and touches on the Black-Litterman mathematical model for portfolio allocation.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

In this episode of The IC Interviews, Dave Baxter welcomes back Stuart Widdowson, Managing Partner of Odyssean Capital, the firm that manages Odyssean Investment Trust. The trust was set up in 2018 and is known for its approach of investing in a concentrated portfolio of UK listed companies too small for inclusion in the FTSE 250.The trust applies a private equity mindset to its operations in the public sphere. Stuart discusses the five aspects of the trust’s methodology that make it stand out from the crowd. He also talks about the qualities he looks for in the companies he selects and focuses on a handful of Odyssean’s current holdings. This interview was recorded on 24 November.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

This week’s episode begins with a dive into Avon Protection’s recent figures with our deputy news editor Michael Fahy. To say the numbers were positive might be a stretch, but things could certainly be worse for the respiratory protection equipment specialist. As there have been many changes at the company in recent years and now activist investors are agitating for a sale, how should investors see the business?Our economics writer, Hermione Taylor, then guides listeners through some of the big changes announced in the 2023 Autumn Statement. The OBR believes the tax change for businesses could increase investment by £14bn over the next five years. But what about the cut to National Insurance? How much will it actually help households? Julian Hofmann also discusses the pension reforms and ponders what it could mean for pension consolidation business PensionBee. It’s then onto our lead feature this week, which shines a light on four quality US companies, as highlighted by our US High Quality Large Caps screen. We focus in on the qualities of tool supplier Fastenal, its ‘Blue Team’ culture, and discuss the attractiveness of its current valuation.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

This episode centres around property, in all its shapes and sizes. The pair begin discussing a well-known self-storage stock: Lok'n Store. Lord Lee explains his nearly decade-long involvement in the company and reveals why he still loves commercial real estate.The pair go on to chat about how investors should approach difficult-to-value assets and the pros and cons of investing in property over shares. Lord Lee also answers questions from listeners.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

We begin by discussing Diageo, a global leader in premium beverages, who released a profit warning last week. Sales are expected to fall in the new financial year with issues in Latin America and the Caribbean. The market reacted badly, understandably, with analysts also alarmed. But can strength in the US market buoy these negative prospects?We follow on with the results of two commercial Reits: British Land and Land Sec. Given rental growth seems to be better than expected, what have the businesses been doing to protect their businesses during the downturn? Moving on to our 2023 Investment Trust Special, our team gives a whistle-stop tour of some of the trusts that feature in the supplement, the portfolios professionals are cherishing this year and more. We also dive into a bit of the detail of one of the articles, Around the World in Eight Investment Trusts, including two UK trusts that look impressive.The stories mentioned in the show:DiageoBritish Land is cheap, but for a reasonLandsec fails to outmanoeuvre rivalHow to build a super-strength investment trust portfolioInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

In this episode of The IC Interviews, personal finance writer Val Cipriani sits down with James de Uphaugh and Imran Sattar of Edinburgh Investment Trust, managed by Liontrust.Boasting 50 years of investment experience between them, James and Imran have worked together in various firms since the 1990s, including BlackRock and Majedie. In this conversation, they explore how the portfolio will deal with a period of economic stagnation, discuss holdings including M&S and new addition Admiral, and explain what investors should expect when Imran takes over from James as head of global fundamental in February next year.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

Companies editor Mark Robinson gives us the rundown on Associated British Foods’ (ABF) latest results, which shareholders warmly received. What tactics has management deployed to reach the latest share price high and where can we expect to see the company head in the future? We’re then on to Apple (US:AAPL), this week’s cover story by Arthur Sants, our new US-based reporter. The tech giant’s latest results mentioned a greater focus on the services side of the business, including AI, as its product sales diminish. Arthur explains what’s causing falling sales and what other headwinds the company faces.Last but not least, Jemma Slingo discusses the ‘winner’s curse’, a concept that once a company reaches the top of its industry, it underperforms. Dan and Jemma discuss how companies can sustain growth while tackling new threats.This episode was recorded on the 7th of November. Associated British Foods reveals surprise special dividendCan Apple keep on delivering for investors?When corporate expansion comes at a costInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

Alex Newman hosts this week's episode which begins with a discussion about HSBC’s recently published trading update. From that huge share buyback to what we can understand about China’s economy and real estate market, Julian Hofmann takes listeners through all they need to know about the bank’s update.Next up is this week’s cover feature on megaprojects by deputy news editor Mike Fahy. Mike and Alex discuss the background of the article, which focuses on the reasons for the many setbacks the industry has faced in recent years. In this episode, Mike sheds light on what investors should consider when debating whether to invest in project work, including naming some core infrastructure trusts that could be of interest.Last but not least, Jemma Slingo joins to discuss tumultuous fast fashion seller Asos. In 2021 the company was valued at £5bn but today it’s worth just a tenth of that. Jemma and Alex discuss not just the larger forces at play that have contributed to this fall in value, but also the debt the business is finding itself in as well as the apparent lack of sustainable operating infrastructure.Listen to the stories mentioned in the showHSBC announces huge share buybackHow to run megaprojects so they deliver for everyoneLosses deepen at AsosInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

Dave Baxter welcomes back popular UK equity manager Nick Train to The IC Interviews. Best known for co-founding Lindsell Train Ltd and running its UK Equity, Global Equity funds and the Finsbury Growth and Income Trust, Nick is a household name when it comes to picking UK stocks.In this episode, Nick shares his thoughts on the state of the UK equity market, British luxury designer Burberry, the events that would lead him to sell a holding and more.If you would like to suggest potential guests, share your thoughts or pose questions to the IC Interviews team, email Dave Baxter at [email protected]' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

This week’s episode begins with a discussion on insurer Lloyd’s of London, which is starting to attract investor attention again. Julian Hoffman, author of the story, and Mark ponder over the hopes for the market and use a near-40-year-old scandal as a guiding point of scepticism.Jemma Slingo joins the conversation to discuss two companies covered in the second part of our Aim 100 feature, translation expert RWS and digital advertising company WPP. She explains why each company is struggling and gives her outlook on whether or not they can turn it around.Last of all, Jennifer Johnson shines a light on two other Aim 100 companies: Chinese biopharmaceutical company Hutchmed and veterinary services provider CVS Group. The former predominantly develops oncology drugs, a well-honed focus given China’s rapidly ageing population. The latter’s shares are down 13 per cent in the past month thanks to an investigation into the industry’s competitiveness. She outlines what lies ahead for the two businesses.The Aim 100 2023: 50 to 41The Aim 100 2023: 40 to 31The Aim 100 2023: 30 to 21The Aim 100 2023: 20 to 11The Aim 100 2023: 10 to 1See more data on the Aim 100 hereInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

In this episode, Alex and John begin with a dive into John’s largest, and most successful, holding, Treatt Plc. He delves into his history with the flavour and fragrance company and explains the appeal that led him to up his holding is for so long.This leads tidily onto a conversation on the art, and challenge, of selling, the downfalls he’s experienced and what he’s learned from his time as a DIY investor. The duo also discuss how important political environments are to investing and finally, he answers questions from listeners.This episode was recorded on 19th October. Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

This week’s episode, like this week’s cover feature special, highlights the first part of our annual dive into the top 100 Aim companies. Having had a nightmarish 2022, companies traded on the alternative market don’t seem to have had an easier time in 2023 as the index underperformed the FTSE All-Share and the FTSE Small Cap Index. Our journalists have analysed the top 100 Aim companies and, in this episode, you can hear a handful of the team discuss some cherrypicked businesses. These firms include investment manager Tatton Asset Management, specialist franchiser Franchise Brands, insolvency expert FRP Advisory and antibody producer Bioventix.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

Julian Hofmann kicks off today's conversation with a discussion of Britain’s beloved pub chain JD Wetherspoon (JDW). Results showed that food sales are now a bigger driver, so does that show a change of strategy for the business? And is there still value there?It’s then on to our cover story this week, a topic that many listeners will be thinking about; how to ensure they’re saving enough for retirement. Alex Newman joins the conversation to explain the thought process behind the piece and shares questions investors should ask themselves when planning for the future.Use our Pension Calculator to track your progress towards retirement here.Last up is newly listed German shoe company Birkenstock (US:BIRK). The popularity of the sandal-maker’s footwear has boomed recently and pairs can be spotted everywhere, from Hollywood films to your morning commute. But is the company’s $9bn valuation sustainable? And given high-profile IPOs haven't done well recently, is the very fact they're happening a good sign for market confidence?As JD Wetherspoon toasts progress, have its shares bottomed out?How to save enough for retirementInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

With more than 30 years experience under her belt, Rosemary Banyard is no fledgling in the investment world. She developed her reputation as one of the leading UK female fund managers while at Schroders in the 1990s and has gone on to become lead manager on award-winning small and mid cap funds.She has worked at firms including Sanford DeLand, launching its Free Spirit Fund in 2016, and in 2020 she joined Downing to spearhead its Unique Opportunities Fund. Under her guidance, the former delivered an impressive 31 per cent return, marking its place in the top decile of the Investment Association’s IA UK All Companies sector.In this episode, our funds editor Dave Baxter and Banyard discuss the characteristics that she looks for in companies during periods of high rates, and the businesses benefiting from challenging times. She goes on to discuss the strengths of one of her largest holdings, Games Workshop (GAW), and shares her thoughts on companies changing their capital allocation to dividends._Listen to the first episode of the newest Investors' Chronicle podcast, Lee & the IC.Lee and the IC is a podcast from the minds of Investors' Chronicle associate editor Alex Newman and seasoned private investor Lord John Lee.Each month, the pair will meet to discuss various topics of interest to investors of all experience levels. Intertwined with conversations featuring topical issues and favourite holdings of the hour, listeners will be privy to investing wisdom gathered from Lord Lee's invaluable decades of experience as a 'do-it-yourself' investor.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

On today’s episode, we start with a look at the latest full-year results from underappreciated ventilation equipment group Volution, which has been under the cosh somewhat this summer. Michael Fahy, who covered the company's results for the Investors' Chronicle this week, talks about the growth drivers for the business. Is the price reaction confirmation that the shares' summer slump was unjustified? Next up is this week's cover story by Val Cipriani, on those persistent investment trust discounts – what are the drivers of this, and what can be done? Will it take specific catalysts to close these discounts, or are we just waiting for better macro conditions? And, importantly, are there bargains to be found for investors? Lastly, the big issue in markets over the past month – the renewed spike in bond yields in the US. Alex Newman discusses the catalysts, and what it all may mean for shares over the months ahead.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

ChatGPT has brought artificial intelligence (AI) firmly into investors’ sights in 2023. But, where are we today in terms of AI and its applications, and where are we going in the future? Cherry Reynard and Allianz Technology Trust portfolio manager Mike Seidenberg look at the implications and whether the initial euphoria from an investment perspective is warranted.There is no doubt that increasing use of data is an advantage for businesses, and those that fall behind in their use of AI risk being at a competitive disadvantage. On balance, is AI an opportunity or a threat? To see the full podcast series visit https://www.allianztechnologytrust.com/en-gb/videos-podcasts-and-reading?Topic=PodcastInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

Mark Robinson kicks off today’s podcast with a discussion about used-car retailer Pendragon’s (PDG) results. The company’s rating has shifted in the past year since AutoNation Inc’s (US:AN) £447mn takeover proposal, but the industry is still facing headwinds after the pandemic. In a similar motoring vein, Julian Hofmann shares his thoughts on the EV market, which is set to heat up as Germany and China gear up for a trade fight.Our economics expert, Hermione Taylor, jumps in the driving seat for the next segment, sharing her thoughts on how long it will take for the UK to get back to normal inflation figures. She draws on Bank of England data, which are infused with reasons to doubt a fall in inflation, but she says that there are some reasons to be optimistic.  Jennifer Johnson then reveals what we can expect to see in the pet care industry. The share price of CVS Group (CVSG), one of the six big players in the sector, fell after the Competition and Markets Authority (CMA) announced an investigation into the sector, “exploring how well the market is working for pet owners”. As the British tend to dote on their four, or more, legged family members, pet owners will often splash out on veterinary needs, sometimes scrimping on other spending if needs be. Is this love-fuelled spending being exploited for cynical, profit-driven ends?Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

Alex Newman is joined by Lord John Lee in the Financial Times studio, marking the first episode of a new series from the Investors’ Chronicle – Lee and the IC.With decades of experience as a ‘do-it-yourself’ investor, Lord Lee offers invaluable wisdom to investors of all experience levels.In this episode, the pair discuss the moment Lord Lee knew M&G (MNG) would be a worthwhile holding, the resilience of the City and a handful of his current favourite shares.This episode was recorded on 23 September.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

As Investment Manager at Smithson Investment Trust, a growth-focused fund run by the team behind Fundsmith Equity, Simon Barnard is a key player in companies that have “already won”.Dave Baxter and Barnard discuss various strategies that the trust has used since its inception, including bottom-up techniques and a three-step process of acquisition. Acquisitions of strongly performing companies are central to the success of the fund, of which Smithson has acquired a wide range, including names such as Fevertree (FEVR) and Moncler (IT:MONC). Alongside well-known names, Simon highlights interesting lesser-known companies in the portfolio, including those utilising selfies and AI to boost profits. But as well as sharing aspects of a successful acquisition, Simon reveals the warning signals that can tell you when it is time to sell a holding. This interview was recorded on Thursday 14 September.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

The episode begins with Jemma Slingo, who runs through the recent results from listed management consultant Elixirr. What can the interim figures tell us about future growth?It’s then on to Arthur Sants, who discusses Vodafone, a company that features in our most recent cover story on Income Majors. What could the merger with Three bring to the company? And what can we expect the new chief executive to do?Last up, Mark Robinson shares his thoughts on ‘buy and build’ specialist Judges Scientific. Can its bread-and-butter strategy still thrive in tough economic conditions? Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

Our company experts Michael Fahy and Julian Hofmann begin by sharing their thoughts on recent results from Melrose and Dowlais. What effect has the RTX engine recall had on Melrose? And should Dowlais be concerned about the possibility of strikes in the US?Next up is our latest cover feature on the cost of capital, by James Norrington. He gives an overview of the feature and discusses the two schools of thought central to the piece; crowding out and crowding in. Last on the agenda is the topic of high-yielding funds. Leonora Walters highlights the problems that arise when investors rely solely on yields, but what are some of the other checks that can be done to secure a resilient payer? Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

This week’s episode begins with a discussion of housebuilder Barratt Developments’ results. What makes Barratt different from other housebuilders? And what can it tell us about the housing market as a whole? Next on the roster is a dive into UK economics. The ONS has released the latest GDP figures, but what can they tell us about the country’s position amongst other G7 nations? And what upcoming data can we expect in the weeks ahead?Last up is genome sequencing company Oxford Nanopore. The team discusses the headwinds facing the company and considers the drivers to profitability it will need to harness in the coming years.Dan Jones is joined by Mitchell Labiak, Alex Newman, Hermione Taylor and Jennifer JohnsonInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

In this episode of IC Interviews, Dave Baxter hosts Craig Baker. As the global chief investment officer of Willis Towers Watson, the firm that chairs the investment committee of Alliance Trust, Craig is closely involved in the company’s investment philosophy and process.The pair discuss the importance of spotting style drift in funds, the development of the trust in recent years, the benefit of the multi-manager approach and more. Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

This week’s episode begins with a discussion on insurance company Prudential’s results. Is its new growth plan too ambitious? And what are the headwinds it faces given the current issues in China?Next up, it’s on to Germany, a country going through its second period of stagnation in two decades. Is Germany now the sick man of Europe (again)? And if so, is it simply at the mercy of growing economies?Lastly, we preview next week’s cover story, our annual Top 50 Funds list. We touch on the structure of the list, the performance of active managers, the biggest changes to the list over the past year and more. Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

This week’s episode covers a lot of ground, from smartphone chip designer Arm, to China’s current economic state, to resurgent retailer M&S.We begin with Arthur Sants on chip maker Arm's mooted $60bn valuation. Is this realistic, given where its rivals are trading? Next up is Ali Al Enazi on his latest piece about China’s fall into deflation. What does this mean for UK companies and investors? Julian Hofmann also shares his thoughts, highlighting a problem facing China’s banking industry.This leads us to mining company BHP. Alex Hamer discusses what full-year results can tell us about the company and asks what could lie ahead given its dependence on the Chinese market.Last but not least, it’s Jemma Slingo on the FTSE 100 hopeful, M&S. What is the 139-year-old company’s new strategy? And how resilient is UK retail?Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

In the latest IC Interviews, Dan Jones welcomes Katie Potts, lead fund manager for tech- and small cap-focused Herald Investment Trust. In this episode, Potts talks about how she values technology stocks, her take on the topic of the moment, AI, and her view on distinctly British attitudes to the state of the stock market.The pair go on to discuss the challenges the UK market has faced in recent years, how the increase in US takeovers has altered the investment landscape and the most exciting times in the market to be a fund manager.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

This episode of The Companies and Markets Show begins with a dive into this week’s results from big players in the insurance industry, Aviva and Legal & General. Our deputy companies editor, Julian Hofmann, explains the market reaction to the businesses’ figures and highlights areas where they may be limited. Alex Newman joins to discuss what stands out for him and offers his take on the state of the insurers. Next up is a story that has sparked interest far and wide – weight-loss drugs. Jennifer Johnson explores what’s driven the surge in sales in recent months and highlights certain companies and sectors that may be affected by the growing popularity of appetite-suppressing drugs. Last on the agenda is our latest cover feature on survivor shares. Julian Hofmann discusses the companies that have withstood the test of time, and highlights the ingredients for long-term success.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

On today’s episode, we start with a look at the latest interim figures from auto parts maker TI Fluid Systems. Next up is this week's cover story: How to be an income investor in a world of higher yields. Dave Baxter talks about what higher bond yields will mean for portfolios. Lastly, Val Cipriani talks about the dos and dont's of managing a small portfolio – striking the right balance between costs and diversification is particularly important.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

On this week's episode, HSBC is first up on the docket. Julian Hofmann and Mark Robinson are on hand to make sense of their results. Next up is a discussion of who will benefit most from the artificial intelligence (AI) boom. James Norrington is the writer of our long read on that topic this week and joins us in the studio to discuss areas of the AI market that may not be getting as much attention as others.And finally, Jemma Slingo returns to discuss UK small caps given their underperformance this year. Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

Following on from the mass of FTSE 100 results released this week, today’s episode focuses on large caps. The team begins by discussing results from gas provider Centrica. Given the elevated first half profits, is there a sensitive political situation on the horizon? And what is the current valuation case for a business like this?Next up is our cover feature from this week on luxury goods businesses. Aside from structural tailwinds, what have luxury brands done right over the past few years? And which companies are trading on valuations that investors may find alluring? It’s on to wealth manager St James’s Place next. Is their tactic to place a fee cap for long-term clients a wise choice? Will it help the business move away from its ‘premium price’ reputation?Lastly, the team talk about recent GSK results. Are investor concerns going to stick around for a while? And where are the company’s potential areas of growth?Dan Jones is joined by Michael Fahy, Alex Newman and Jennifer Johnson.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

On today’s episode, our team begins with a discussion about Brickability’s results. What is the company’s position in the market and how well prepared is it to weather a housing downturn? Next up is this week’s cover story on the hidden stars of the FTSE 100, which explores businesses that have unusual growth stories. In this segment, Alex Newman runs through the thinking behind the piece and discusses how the ‘secret’ companies underpin the strength of the UK economy.Last on the agenda is new FTSE 250 entrant ME Group International. Although it may not be the most exciting, or contemporary, business, it has seen significant growth in recent months. What can breaking down the valuation tell us about the business? And could this be a UK market success story? Dan Jones is joined by Michael Fahy, Mark Robinson, Alex Newman and Jemma Slingo.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

On today’s episode of The Companies and Markets show, we discuss management consultancy Begbies Traynor’s latest results. What do they tell us about the UK economy?Next up is our latest cover feature on the North Sea. More than 170 years since its resources were first tapped, the North Sea is still seen as ‘the jewel in the crown’ of the UK’s energy system. We ponder the future of the shallow arm of the Atlantic Ocean. How damaging are windfall taxes? What are the prospects for offshore wind?Lastly, it’s on to UK pensions. Why have nine pension providers agreed to invest default funds in unlisted equities? And will these plans make a difference to the interest in unlisted companies and domestic equity investment?Dan Jones is joined by Mark Robinson, Alex Newman, Alex Hamer and Leonora WaltersInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

On this week’s episode, Dan Jones and co discuss the big topics from the world of finance and investing.First up is currency-printing company De La Rue's results. Can the company survive in an increasingly cashless society? And could it manage growth outside of a recession, or within it?Next is our latest cover feature: The IC Top 50 ETFs. Dave Baxter runs through the logic behind the list and explains what investors need to think about when going down the index funds route.Lastly, it’s on to this week’s hot topic – bank savings rates. What does political pressure mean for shareholders? And why do savers need to be careful not to fall for some of the deals banks are now offering?Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

Companies editor Mark Robinson fills in for Dan Jones this week and is joined by IC journalists Julian Hofmann and Jemma Slingo.First up is a brief dive into how refinancing obligations threaten corporate financial stability. Could we see the same type of contagion in the financial system that we saw in 2008?Next up is the result of the week, money transfer company Wise. The company is one of the few to have benefited from the Bank of England’s hike in interest rates, but what’s in store for the company in the future?Lastly, Jemma Slingo joins the conversation to discuss this week’s cover feature on the ‘attention economy’. What effect has instant information had on our attention? And how can investors get a slice of the digital advertising action without investing directly in the biggest, expensive players?Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

Halford’s results are first on the agenda. Since the pandemic, the motoring and cycling brand has been on somewhat of a rollercoaster, but does its rosy past few months suggest it will fare well in the future?Next up is this week’s cover story, US tech giant Meta. What type of growth can we expect from the company in the future? And can its recent rebound continue?Finally, it’s on to safety equipment company Halma. What has driven its sizeable growth over the past few years? And where will the new management take the company?Dan Jones is joined by Mark Robinson, Julian Hofmann, Arthur Sants and Jemma Slingo.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

Lord John Lee is an active private investor, a member of the House of Lords and became the UK’s first Isa millionaire in 2003. He has written two books on investment - “How to Make a Million” and “Yummi Yoghurt - A First Taste of Stock Market Investment”, as well as hundreds of articles for FT Money.In this episode, he and Dan Jones discuss his small-cap focused approach to investing, how his portfolio has evolved over the years, and his view of the private investor’s role in today’s market.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

Dan Jones is joined by Mitchell Labiak to discuss housebuilder Crest Nicholson’s results – how has the business been coping since the mini-Budget? It’s then on to its competitor Bellway. What approach is it taking that makes it different from Crest Nicholson?Next up, Julian Hofmann talks small-cap financial services companies, with a particular focus on CMC Markets, Tatton and Ramsdens. Is there room for growth in this niche area?Last but not least, Dave Baxter unpacks this week's cover story on passive funds. Why is finding cheap funds important? And what are the cheapest funds out there?Dan Jones is joined by Mitchell Labiak, Julian Hofmann and Dave Baxter.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

The housing market has long been seen as a key bellwether of the overall state of UK market. But the recent squeeze on the cost of living – namely, rising prices which have in turn driven interest rates higher – has been keenly felt in that sector. In this podcast episode, we debate the fortunes of the UK’s housebuilders as well as looking at what other types of company could benefit from a more buoyant sector. To see the full podcast series visit https://www.merchantstrust.co.uk/en-gb/videos-podcasts-and-reading?Topic=PodcastInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

On this week's episode of the companies and markets show, DiscoverIE is our result of the week. Mark Robinson is on hand as usual to break them down for us. Next up is IC economist Hermione Taylor, discussing what the 'new normal' is for interest rates. And finally, Alex Hamer joins the show to talk through a new listing in the UK market: WE Soda. What is it, and why is it listing in London? Dan Jones hosts Alex Hamer, Mark Robinson and Hermione Taylor.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

We start with waste management company Renewi, which released full-year results last week. After another tough year as recyclate prices fall, our team discusses its status in the renewables market. It’s then on to our latest cover feature, on the best way to profit from the electric vehicle transition. Who are the beneficiaries of this expanding industry? And what can investors expect to happen as the EV market grows? Lastly, it’s on to Nvidia, the big stock of the moment. By market capitalisation, it’s now valued at $1tn, making it the sixth-largest company in the world. Is it worth the hype? And what other companies are beneficiaries of this trend in AI technology?Dan Jones is joined by Jennifer Johnson, Mark Robinson and Arthur Sants.  Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.