Merryn Talks Money

Not long ago, it was seen as too slow, too expensive and too controversial to play a major role in the future energy mix. Not anymore. Nick Lawson, chief executive of investment firm Ocean Wall, and Jake Jurewicz, CEO and co-founder of modular reactor startup Blue Energy, join this week’s Merryn Talks Money to explain why they think nuclear power is becoming one of the most compelling long-term energy bets.See omnystudio.com/listener for privacy information.

In this week's roundup, Merryn Somerset Webb, speaks with Money Distilled newsletter author John Stepek about why the Nvidia share price is a magic number, falling UK mortgage rates, buying the dip and covid-level shortages caused by tariffs.See omnystudio.com/listener for privacy information.

“ Going into the property market without a buying agent is a bit like going to court without a lawyer,” says Black Brick Property Solutions founder Camilla Dell. “You’d never dream of representing yourself, and yet when it comes to buying property, which is often one of the most significant and largest financial commitments that somebody will do in their entire lifetimes, people tend to do that without proper representation.” On this episode of the Merryn Talks Money UK housing mini-series, Dell, who has worked in the London property market for more than two decades, joins hosts Merryn Somerset Webb and Money Distilled author John Stepek to explain the importance of a buying agent.See omnystudio.com/listener for privacy information.

Renowned UK value investor Ben Whitmore joins host Merryn Somerset Webb to discuss why he left Jupiter Asset Management, the mission behind Brickwood Asset Management (his new venture) and the focus behind its first fund.Whitmore is zeroing in on buying shares of undervalued UK companies. He tells us which companies, and speaks more generally about the trends he's seeing in the markets. See omnystudio.com/listener for privacy information.

In this week's roundup, Merryn Somerset Webb, speaks with Money Distilled newsletter author John Stepek about the recent volatility in the markets, significant increases in gold prices and the role of US President Donald Trump in market shifts and the theoretical versus practical independence of central banks. See omnystudio.com/listener for privacy information.

In this episode of the Merryn Talks Money UK housing mini-series, hosts Merryn Somerset Webb and Money Distilled author John Stepek are joined by Paula Higgins, founder and chief executive of HomeOwners Alliance, to tackle the question: are new-build properties a wise choice? See omnystudio.com/listener for privacy information.

As hosts Merryn Somerset Webb and John Stepek, continue on with part 3 of their UK housing mini-series, they help answer a listener question on the pros and cons of buying a shared ownership property in the UK. They are joined by Ray Boulger, of independent mortgage brokers, John Charcol. See omnystudio.com/listener for privacy information.

(This interview was recorded before the market chaos of this week.) On this week’s episode of Merryn Talks Money, Merryn Somerset Webb sits down with economist James Galbraith, who says there’s a problem with economists. The problem, he says, is that almost all of them are working with the wrong models. They look at economics in terms of equilibrium, as though the natural destination of an economy is “some kind of stable state,” Galbraith says. But absolutely nothing else tends to equilibrium. See omnystudio.com/listener for privacy information.

In this week's roundup, Merryn Somerset Webb, speaks with Money Distilled newsletter author John Stepek about trade wars, the end to American exceptionalism and President Donald Trump might actually be winning. https://www.bloomberg.com/news/newsletters/2025-04-09/everything-you-need-to-know-about-the-basis-trade-spooking-markets See omnystudio.com/listener for privacy information.

In this week’s installment of Merryn Talks Your Money, hosts Merryn Somerset Webb and Money Distilled author John Stepek continue their UK housing mini-series. On this episode, they question the value-add of mortgage brokers when buying a home in Britain. How essential are they? See omnystudio.com/listener for privacy information.

It wasn’t long ago that China was considered “uninvestable” and that the “exceptional” US market was the only game in town. That’s not the case anymore. According to Edward Cole, Man Group’s head of multi-strategy equities, nothing is permanently exceptional or uninvestable. Once you accept that premise, the great rotation currently underway makes a lot more sense. See omnystudio.com/listener for privacy information.

In this week's roundup, Merryn Somerset Webb, speaks with Money Distilled newsletter author John Stepek about how US tariffs have highlighted a benefit of Brexit and why they believe the minimum wage is too high. See omnystudio.com/listener for privacy information.

We're kicking off our special series on how to navigate the UK housing market. Professor Yolande Barnes at University College London joins host Merryn Somerset Webb to discuss the market as a whole: what’s the outlook for home prices, what’s the best strategy when purchasing your first property and why the UK is at risk of an oversupply in houses. See omnystudio.com/listener for privacy information.

Alyx Wood, chief investment officer of UK-focused hedge fund Kernow Asset Management, joins Merryn this week. We discuss his contrarian approach to investing, where he is short, where he is long, and why he's decided to focus on UK equities. See omnystudio.com/listener for privacy information.

In this week's roundup, Merryn speaks with Money Distilled newsletter author John Stepek about Chancellor Rachel Reeves's Spring Statement. They discuss what it means for your money, and why despite the Chancellor’s cuts and tweaks, the UK’s fiscal head room remains inadequate. See omnystudio.com/listener for privacy information.

Bloomberg personal finance reporter Suzanne Woolley is back on Merryn Talks Your Money. She discusses her latest in the 'Where to Invest' series, where four investment experts share suggestions on where they'd put $1 million right now. Ideas include European stocks, multifamily housing and art. See omnystudio.com/listener for privacy information.

UK billionaire Michael Spencer joins Merryn this week to explain why he’s betting big on Nutshell Asset Management’s trading strategy. There isn’t much everyone agrees on in markets. But one thing you rarely hear an argument against is the importance of trading as little as possible. The higher your turnover, the higher your costs go and the worse your overall performance will be. So find good quality stocks you have faith in and hold them for the very long term—Warren Buffett or Nick Train style.Or maybe don’t. Spencer, the billionaire behind one of the world’s biggest financial brokerage fortune, says the low turnover story is old hat. There has been a change in market structure, he says, and trading costs today are “microscopic” compared with even a few years ago.See omnystudio.com/listener for privacy information.

In this week's roundup, Merryn speaks with Money Distilled newsletter author John Stepek about Chancellor Rachel Reeves's upcoming fiscal event and what it could mean for your finances. See omnystudio.com/listener for privacy information.

On this week’s personal finance edition of Merryn Talks Money, hosts Merryn Somerset Webb and John Stepek discuss a selection of reader questions.Among them are why pension planning could be different between men and women, what to consider when choosing an Individual Savings Account in the UK and why dying broke might not be such a bad idea. See omnystudio.com/listener for privacy information.

Troy Asset Management founder Sebastian Lyon joins Merryn this week to talk strategies for protecting your capital in these crazy markets. They also discuss how the low interest-rate environment hit the UK investment trust industry hard, and the way he sees it rebounding, as well as American exceptionalism and why there are good reasons to be cautious about investing in the US, and his outlook for gold.See omnystudio.com/listener for privacy information.

The great John Authers, senior markets editor and Opinion columnist at Bloomberg, joins Merryn and John Stepek for this week's roundup. He talks about his time in Frankfurt, explaining "the biggest turning point for German economic policy at least since reunification, and possibly much longer." He also points out why German companies look like good value ( "take 10 percent out of your Mag7 ETF and put it into a Stocks Industrials ETF, and that will move things very quickly") and whether Wall Street is losing hope in the 'Trump put.' Disclaimer: Merryn's audio isn't great in this episode but we'll have it fixed by next week. The Johns sound excellent. See omnystudio.com/listener for privacy information.

There’s no tradeoff between net zero and growth in the UK. That’s the conventional wisdom and the position of the current government. But what if it’s the decline in available electricity that’s causing productivity, GDP and living standards to stagnate? New research from Kallum Pickering, chief economist at Peel Hunt, suggests there may indeed be a connection. He joins Merryn Somerset Webb and senior reporter John Stepek on Merryn Talks Money to explain that the rise of power-hungry artificial intelligence and the UK’s renewed focus on defense may mean the government should reexamine its energy policies.See omnystudio.com/listener for privacy information.

Merryn speaks with Bloomberg personal finance and wealth reporter Suzanne Woolley about the latest instalment in her "Where to Invest" series. They discuss where four money managers said they’d put a $100,000 stake right now. Opportunities mentioned include stocks outside the US, tech and a holiday house in Greece. Read the story here: https://www.bloomberg.com/features/how-to-invest-100k-q2-2025/See omnystudio.com/listener for privacy information.

Merryn Somerset Webb interviews GMO co-founder and notorious caller of market bubbles Jeremy Grantham. Grantham, who also serves as the firm’s long-term investment strategist, leans in to his more than five decades of investing experience to explain the current “super bubble” in the markets. He comments on when we’ll see a correction, the fate of the green transition and why he’s so concerned about population decline. Sign up for Merryn's newsletter: https://www.bloomberg.com/account/newsletters/merryn-talks-moneyAnd for John's: https://www.bloomberg.com/account/newsletters/money-distilledSee omnystudio.com/listener for privacy information.

In this week's roundup, Merryn speaks with Money Distilled newsletter author John Stepek about the souring mood on America’s equity market, particularly megacap tech. In case you missed it (or were on holiday like John), the seven behemoths that powered a 54% surge in US stocks over two years tumbled into a collective correction Tuesday. They also discuss the latest moves in Bitcoin and Donald Trump's "gold card" plan. See omnystudio.com/listener for privacy information.

Want a different passport? Wish you lived somewhere with a better tax policy or even better weather? With enough money, it is possible. It’s called citizenship by investment, a process of gaining permanent residency by purchasing property or investing in the economy. On this week’s episode of Merryn Talks Money, host Merryn Somerset Webb speaks with Dominic Volek, group head of private clients at Henley & Partners, about why expats are deciding to move—and which countries have the best offers. See omnystudio.com/listener for privacy information.

Every decade has its story for investors. The 1970s were all about gold. The 1980s were all about Japan. In the 1990s it was the Internet. In the 2000s, we all shoveled money into China and emerging markets. And in the 2010s, we had eyes for nothing but software and American exceptionalism. So what’s next? That’s the question Jawad Mian, founder and managing editor of Stray Reflections, tries to answer on this week’s Merryn Talks Money.See omnystudio.com/listener for privacy information.

In this week's roundup, Merryn speaks with Money Distilled newsletter author John Stepek about why the inflation reading was so surprising, why it's more important than ever to protect your savings, and why the cost of energy is such a hot topic globally. See omnystudio.com/listener for privacy information.

On this week’s personal finance edition of Merryn Talks Money, hosts Merryn Somerset Webb and Bloomberg Money Distilled author John Stepek turn their attention to cash Individual Savings Accounts (ISAs) and how the rules around them may soon change--and why that means you should think about how much cash you've got saved.See omnystudio.com/listener for privacy information.

What would philosopher and political economist Adam Smith think of Donald Trump’s love of tariffs? What would he make of the Republican president’s approach to taxes and deregulation? On this episode of Merryn Talks Money, recorded last week in Dubai, a special panel joins host Merryn Somerset Webb to try and answer those questions using Smith’s texts as a guide. They also talk about the global investment landscape and how the Gulf region, and particularly the United Arab Emirates, is a good place to launch a career. In front of an audience at the Heriot-Watt University campus, Webb was joined by Adam Dixon, chair in sustainable capitalism at Panmure House, Ashley Hunter, founding partner of A. Hunter & Co., and Iqbal Kham, chief executive of Fajr Capital Group, an impact-driven investment firm. See omnystudio.com/listener for privacy information.

Gold is enjoying a bump after President Donald Trump announced new tariffs on US steel and aluminum imports this week. Merryn speaks with reporter Jack Ryan, who covers mining and precious metals, and gold market veteran Charlie Morris of ByteTree to discuss what’s driving gold’s ascent and what investors can do to make some money out of the moves. See omnystudio.com/listener for privacy information.

All investors look for an edge. You only make real money by having “alpha,” as the jargon goes. On this week’s episode of Merryn Talks Money, host Merryn Somerset Webb is joined by a guest who knows all about the quest for advantage: Bloomberg Indices Quant Researcher Steve Hou. Put simply, Hou’s job is to find what “works” in markets and then find ways to capture it for investors. So what’s he been investigating? Recent topics include how to identify innovative companies and the role of research and development spending within that. It’s more complicated than you might expect.See omnystudio.com/listener for privacy information.

In this week's roundup, senior writer and Money Distilled author John Stepek speaks with Opinion columnist Marcus Ashworth. They discuss what Trump’s tariff threats mean for your money, gold's surge, and why there’s more to equities than just US stocks. Marcus's latest column: https://www.bloomberg.com/opinion/articles/2025-02-03/trump-tariffs-ecb-dithers-while-euro-economy-flatlines See omnystudio.com/listener for privacy information.

On this week’s personal finance edition of Merryn Talks Money, the conversation revolves around effective financial planning for one’s eventual death.Merryn Somerset Webb sits down with Matthew Hutton, author of Your Last Gift: Getting Your Affairs in Order, to discuss practical advice on how to navigate the inheritance tax, write a will, choose an executor, manage digital assets and ensure one’s heirs avoid delays when it comes to accessing money after your death. Read more: https://www.bloomberg.com/opinion/articles/2024-04-29/death-admin-don-t-leave-your-family-a-nightmare-when-you-dieMatthew Hutton's book: https://www.yourlastgiftbook.com/See omnystudio.com/listener for privacy information.

In this week's roundup, Merryn speaks with Money Distilled newsletter author John Stepek about Chancellor Rachel Reeves' growth speech this week, and the obstacles she'll likely face getting her ideas across the line. They also discuss whether Chinese AI startup DeepSeek is good news or worrying news for US Big Tech. John says bottom line is remember: there should be more room foruncertainty in stock prices. Investors should never pay for perfect. See omnystudio.com/listener for privacy information.

Founder and Manager of the Blue Whale Growth Fund Stephen Yiu joins this week to discuss the Big Tech selloff, his outlook for AI and where he’s investing now. Yiu, whose investment fund is backed by billionaire Peter Hargreaves, reduced its stakes in major US technology companies on concern over the costs of AI at the end of 2024. What did he see that other investors didn't? And where does he see opportunities now? Plus, what Stephen is reading now: Lucky Loser: How Donald Trump Squandered His Father's Fortune and Created the Illusion of SuccessSee omnystudio.com/listener for privacy information.

Panmure Liberum Chief Economist Simon French joins host Merryn Somerset Webb and senior reporter John Stepek to discuss why boosting the UK's growth should start with encouraging North Sea oil and gas production. The book Simon recommends at the end of the interview is called Digital Minimalism.See omnystudio.com/listener for privacy information.

In this week's roundup, Merryn speaks with Money Distilled newsletter author John Stepek about what TrumpCoin signals for the US presidency and the crypto industry, where the investment trust showdown stands now that Boaz Weinstein's Saba Capital failed to take control of Herald Investment Trust, and Chancellor Rachel Reeves' conversation with Bloomberg in Davos.See omnystudio.com/listener for privacy information.

On this week’s personal finance edition of Merryn Talks Money, host Merryn Somerset Webb speaks with Tony Dalwood, Chief Executive Officer of Gresham House, a specialist alternative asset manager, about Venture Capital Trusts (VCTs)—what are their benefits and when they are best employed.See omnystudio.com/listener for privacy information.

In this week's Merryn Talks Money market roundup, there's only one story on our host's mind. Merryn and Money Distilled newsletter author John Stepek talk about US activist investor Boaz Weinstein of Saba Capital and his high-profile attempt to unseat the boards of seven UK-listed investment trusts. Weinstein argues that a combination of weak three-year performance and too much tolerance of wide discounts means investors should welcome Saba's attentions; the boards argue that Saba is self-serving and that victory for the US investor would leave shareholders facing an uncertain future. "Everyone is right", concludes Merryn. But if you're a shareholder in any of these trusts, then what should you be doing about it?See omnystudio.com/listener for privacy information.

“We’re not here to make trouble.” So says Boaz Weinstein, founder and chief investment officer of activist investor Saba Capital Management, who joins this episode of the Merryn Talks Money podcast, hosted by senior reporter John Stepek. His claim may come as news to boards of many UK investment trusts. Saba has taken large stakes in seven of them and called extraordinary general meetings. Those gatherings could result in existing boards being swept away and replaced by Saba's favored candidates when voting happens over the next few weeks. Why the UK? Why investment trusts? And why now? Listen to hear Weinstein's answers. (Corrects podcast to remove incorrect statement about fund performance data.) Sign up to Merryn's newsletter: https://www.bloomberg.com/account/newsletters/merryn-talks-moneySee omnystudio.com/listener for privacy information.

Each week on the Merryn Talks Money podcast, we discuss strategies for investing with industry experts. But rarely do we talk about how to get started on that investment journey. On this episode, Holly Mackay, founder and chief executive of Boring Money, joins hosts Merryn Somerset Webb and John Stepek to do just that. They chat about how to get started in choosing an investment platform, including answering a key question (what is an investment platform?) and looking at the main options available.See omnystudio.com/listener for privacy information.