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In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook (winner of the AIC Best Broadcast Journalist Award 2024 and 2025), is joined once again by Ben Conway, head of fund management at Hawksmoor. Their discussion this time includes the health of the investment trusts sector, the role of activist investors and board responsibilities, and regulatory changes that might entice pension funds back to the sector. This discussion was recorded on Friday 05 June 2026. Jonathan is now writing market and other comments on Substack (jdinvestor.substack.com), and for those of you who follow Money Makers on social media, two new channels are now available - TikTok (@moneymakers_its) and Bluesky (@money-makers.co). Do give us a follow! *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by 30 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:37 - Introduction 0:01:22 - The health of the investment trusts sector 0:04:48 - Activists and boards 0:15:56 - The return of pension funds? 0:26:47 - A short break 0:27:33 - The equity market situation 0:37:00 - Quality growth investors 0:41:29 - Barriers to new investment trusts 0:45:02 - Reasons for optimism 0:46:35 - Close If you enjoy the weekly podcast, why not also try the Money Makers Circle? This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of European Smaller Companies (ESCT). Future profiles include Artemis UK Future Leaders (AFL) and Aberdeen Equity Income (AEI). Our expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 330 podcasts since we launched in 2020. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
Laurence Hulse, manager of the Onward Opportunities Trust (ONWD) joins Jonathan Davis, editor of the Investment Trusts Handbook (winner of the AIC Best Broadcast Journalist Award 2024 and 2025), for a discussion including the performance and strategy of the trust, some of the portfolio holdings, and macroeconomic and political risks. The trust is still tiny in terms of market capitalisation but has made some good progress in very challenging conditions since coming to the market three years ago with a UK small cap equities strategy, enabling it to issue some shares and move to the main market. A star of the future - who knows? Recorded on 26 May 2026. Jonathan is now writing market and other comments on Substack (jdinvestor.substack.com), and for those of you who follow Money Makers on social media, two new channels are now available - TikTok (@moneymakers_its) and Bluesky (@money-makers.co). Do give us a follow! *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by 30 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Timestamps: 0:00:37 - Introduction 0:02:07 - Reflecting on the past three years 0:06:09 - Trading around par and issuing new shares 0:08:27 - The ONWD difference and interpreting the mandate 0:12:23 - Volatility 0:15:29 - Investment themes 0:17:46 - The UK government's support for business 0:22:05 - A short break 0:22:50 - Springfield Properties 0:28:29 - AudioBoom 0:32:31 - RentGuarantor Holdings 0:36:32 - The cash strategy 0:43:32 - Close If you enjoy the weekly podcast, why not also try the Money Makers Circle? This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, Stuart Watson takes a look at infrastructure sector discounts, while the latest trust profile features Baker Steel Resources (BSRT). Future profiles include European Smaller Companies (ESCT) and Artemis UK Future Leaders (AFL). Our weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 330 podcasts since we launched in 2020. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
In this episode, I chat to Pete Miller, part of the co-founding team at Octopus Energy, who helped design one of the most recognisable new logos in Britain. Hear how Octopus used two proven psychological principles to build a logo people remember (and why those same principles are being ignored by most of the industry). You'll learn: - Why a distinct logo made one beer taste 5% better - How a 1933 German study explains why Octopus stands out - Why brands from McDonald's to KFC give their logos human faces - And what happened when researchers asked people to turn off a robot --- Subscribe to my newsletter: https://www.nudgepodcast.com/mailing-list Unlock the Nudge Vaults: https://www.nudgepodcast.com/vaults Connect on LinkedIn: https://www.linkedin.com/in/phill-agnew/ Read Aaron's book: https://thethingswelove.com/ --- Today's sources: Bartneck, C., Van Der Hoek, M., Mubin, O., & Al Mahmud, A. (2007). "Daisy, Daisy, give me your answer do!": Switching off a robot. Proceedings of the 2nd ACM/IEEE International Conference on Human-Robot Interaction, 217–222. Shotton, R. (2017). The choice factory: 25 behavioural biases that influence what we buy. Harriman House. Shotton, R. (2023). The illusion of choice: 16½ psychological biases that influence what we buy. Harriman House. Von Restorff, H. (1933). Über die Wirkung von Bereichsbildung im Spurenfeld. Psychologische Forschung, 18, 299–342.
In this edition of the Money Makers Investment Trusts Podcast, Evy Hambro, manager of BlackRock World Mining (BRWM) discusses, amongst other things, the trust's exceptional performance, the impact of global factors, and the AI-driven commodity demand. With Jonathan Davis, editor of the Investment Trusts Handbook (winner of the AIC Best Broadcast Journalist Award 2024 and 2025). This discussion was recorded on 12 May 2026. Jonathan is now writing market and other comments on Substack (jdinvestor.substack.com), and for those of you who follow Money Makers on social media, two new channels are now available - TikTok (@moneymakers_its) and Bluesky (@money-makers.co). Do give us a follow! *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by 30 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:37 - Introduction 0:02:35 - The strong performance of BRWM 0:06:30 - Gold 0:11:42 - Silver 0:13:40 - The effect of the Iran War on major commodity classes 0:16:25 - The impact of AI on commodities 0:19:58 - Capital discipline 0:22:07 - A short break 0:22:52 - The dollar 0:24:14 - BHP royalty transaction 0:27:00 - Reducing gearing 0:28:41 - Risks 0:33:21 - Managing the trust today compared to the past 0:37:14 - Close If you enjoy the weekly podcast, why not also try the Money Makers Circle? This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of Baker Steel Resources (BSRT). Future profiles include European Smaller Companies (ESCT) and Artemis UK Future Leaders (AFL). Our expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 330 podcasts since we launched in 2020. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
Most people approaching retirement believe their job is to reduce risk. Get out of equities. Move into something safe. Ben Carlson disagrees — and he has the research to back it up. Ben is Director at Ritholtz Wealth Management in the US, author of Risk and Reward (Harriman House, May 2026), and one of the most widely read financial writers working today. He's spent his career studying every major market crash in modern history: the Great Depression, Japan's lost decades, the dot-com bust, 2008 and what they actually mean for long-term investors. In this episode, Paddy and Ben talk about Ben's new Book: They cover the yin and yang of Risk and Reward Why globally diversified investors still came out ahead from financial crises The three dimensions of risk tolerance (willingness, need, and ability) How to think about drawdown and bucketing, inflation psychology, and the only benchmark that actually matters for someone approaching retirement. Ben's new book Risk and Reward is available now in Kindle, paperback, and audiobook (read by Ben himself) from Harriman House. There's a full written article about this Interview with Ben on the blog at http://www.informeddecisions.ie/post/retirement-risk-and-reward-ireland If this episode raised questions about where you sit on the age-related table or whether your current contribution strategy is going to get you where you want to go, that's exactly what we work through with clients. Find out more at https://www.informeddecisions.ie DISCLAIMER: This content is for general educational purposes only and does not constitute personalised financial advice. Always speak to a qualified, independent advisor about your own situation.
Andrew McHattie, editor of the Investment Trusts Newsletter, returns to the Money Makers Investment Trusts Podcast this week, discussing developments with Jonathan Davis, editor of the Investment Trusts Handbook (winner of the AIC Best Broadcast Journalist Award 2024 and 2025). This time, the focus includes commercial property sector consolidation, SpaceX and Saba Capital, and discounts in the private equity space. This discussion was recorded on Thursday 14 May 2026. Jonathan is now writing market and other comments on Substack (jdinvestor.substack.com), and for those of you who follow Money Makers on social media, two new channels are now available - TikTok (@moneymakers_its) and Bluesky (@money-makers.co). Do give us a follow! *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by 30 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:37 - Introduction 0:01:54 - Commercial property and a new proposed deal 0:07:27 - SpaceX 0:11:34 - Herald (HRI) and Saba 0:15:36 - The discounts in other Saba targets 0:17:52 - Pantheon International (PIN) 0:22:14 - HgCapital (HGT) 0:28:56 - A short break 0:29:41 - Chrysalis (CHRY) 0:35:45 - Aquila European Renewables (AERI) and Achilles Investment Company (AIC) 0:40:35 - Bluefield Solar Income Fund (BSIF) 0:42:58 - F&C Investment Trust (FCIT) 0:44:42 - Delivering on the investment trust promise 0:50:40 - Close If you enjoy the weekly podcast, why not also try the Money Makers Circle? This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of Invesco Global Equity Income (IGET). Future profiles include River UK Micro Cap (RMMC) and RIT Capital Partners (RCP). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our nearly 330 podcasts since we launched in 2020. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
Almost exactly a year on from his last appearance, Ben Rogoff, manager of the Polar Capital Trust (PCT) joins this edition of the Money Makers Investment Trusts Podcast, with host Jonathan Davis (editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award 2024 and 2025), discussing the latest developments in artificial intelligence including the transition to agentic AI, market dynamics including the potential for a natural monopoly, and trust performance. This discussion was recorded on Tuesday 28 April 2026. Jonathan is now writing market and other comments on Substack (jdinvestor.substack.com), and for those of you who follow Money Makers on social media, two new channels are now available - TikTok (@moneymakers_its) and Bluesky (@money-makers.co). Do give us a follow! *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by 30 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:37 - Introduction 0:01:02 - Significant developments in the investment trusts sector 0:04:08 - Ben Rogoff, Polar Capital Technology (PCT) 0:04:48 - The emergence of agentic AI 0:11:30 - User confidence in AI 0:18:26 - Mythos and AI scaling 0:23:19 - Potential IPOs, and a new natural monopoly? 0:32:37 - A short break 0:33:22 - Spotting tech losers 0:39:41 - The PCT portfolio 0:51:57 - Volatile technology cycles 0:55:40 - Continued trading at a discount 0:59:41 - Manchester United's AI-supported plan for champions 1:00:46 - Close If you enjoy the weekly podcast, why not also try the Money Makers Circle? This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of Tetragon Financial (TFG). Future profiles include Invesco Asia Dragon (IAD) and Baker Steel Resources (BSRT). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 330 podcasts since we launched in 2020. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
In this edition of the Money Makers Investment Trusts Podcast, Ashley Thomas, renewables infrastructure analyst at Winterflood Securities, joins Jonathan Davis, editor of the Investment Trusts Handbook (winner of the AIC Best Broadcast Journalist Award 2024 and 2025) to discuss recent developments affecting the renewables sector. This discussion was recorded on 24 April 2026. Jonathan is now writing market and other comments on Substack (jdinvestor.substack.com), and for those of you who follow Money Makers on social media, two new channels are now available - TikTok (@moneymakers_its) and Bluesky (@money-makers.co). Do give us a follow! *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by 30 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:37 - Introduction 0:01:23 - The impact of the Iran War on the renewables sector 0:06:56 - Sector performance since the start of the conflict 0:08:35 - Government policy changes 0:23:03 - A short break 0:23:53 - Sector discounts 0:28:43 - Inflow and outflow trends 0:31:14 - Battery storage and specialists 0:34:51 - Forecasting the size of the sector 0:36:35 - Close If you enjoy the weekly podcast, why not also try the Money Makers Circle? This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of Cordiant Digital Infrastructure (CORD). Future profiles include Tetragon Financial (TFG) and Invesco Asia Dragon (IAD). Our weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 330 podcasts since we launched in 2020. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
In this special edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook (winner of the AIC Best Broadcast Journalist Award 2024 and 2025), is joined on stage at the Master Investor Show by Peter Hewitt, the former manager of the CT Global Managed Portfolio Trust, to discuss the performance of the sector during turbulent times. Slides accompanying this presentation will be available to subscribers of the Money Makers Circle in the upcoming newsletter. This discussion was recorded on Saturday 25 April 2026. Jonathan is now writing market and other comments on Substack (jdinvestor.substack.com), and for those of you who follow Money Makers on social media, two new channels are now available - TikTok (@moneymakers_its) and Bluesky (@money-makers.co). Do give us a follow! *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by 30 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:37 - Introduction 0:01:29 - The Master Investor Show 0:04:20 - Managing money in turbulent times 0:07:06 - Performance of the investment trusts sector 0:13:05 - Saba Capital 0:18:48 - A short break 0:19:38 - Interesting trusts 0:32:08 - Platform costs 0:34:58 - A shrinking sector but good performance 0:40:35 - Close If you enjoy the weekly podcast, why not also try the Money Makers Circle? This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of Cordiant Digital Infrastructure (CORD). Future profiles include Tetragon Financial (TFG) and Invesco Asia Dragon (IAD). Our weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our 330 podcasts since we launched in 2020. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
Most restaurants have a major problem. Paying the bill. Give the bill too early, and the customer feels rushed. Too late, and they feel ignored. To solve this problem (and many more), Will Guidara turned to behavioural science. And his solution helped his restaurant become the world's best. --- Listen to the bonus episode: https://nudge.kit.com/aeea58886f Will's book Unreasonable Hospitality: https://amzn.to/4tPrMl8 Will's new book The Field Guide: https://amzn.to/3Orq1u0 Will's newsletter, Pre-Meal: https://www.unreasonablehospitality.com/premeal Unlock the Nudge Vaults: https://www.nudgepodcast.com/vaults Join 10,728 readers of my newsletter: https://www.nudgepodcast.com/mailing-list Connect on LinkedIn: https://www.linkedin.com/in/phill-agnew/ --- Today's sources: Kahneman, D., Fredrickson, B. L., Schreiber, C. A., & Redelmeier, D. A. (1993). When more pain is preferred to less: Adding a better end. Psychological Science, 4(6), 401–405. Shotton, R. (2023). The illusion of choice: 16½ psychological biases that influence what we buy. Harriman House. Strohmetz, D. B., Rind, B., Fisher, R., & Lynn, M. (2002). Sweetening the till: The use of candy to increase restaurant tipping. Journal of Applied Social Psychology, 32(2), 300–309.
This week we have two guests from BlackRock Energy Resources Income (BERI) joining the podcast: manager Tom Holl and chairman Adrian Brown. We discuss the impact of conflict in the Middle East and the trust's three-pronged approach ahead of its continuation vote next week. Hosted by Jonathan Davis, editor of the Investment Trusts Handbook (winner of the AIC Best Broadcast Journalist Award 2024 and 2025). Recorded on Thursday 19 March 2026. Jonathan is now writing market and other comments on Substack (jdinvestor.substack.com), and for those of you who follow Money Makers on social media, two new channels are available - TikTok (@moneymakers_its) and Bluesky (@money-makers.co). Do give us a follow! *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by 30 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:24 - Introduction 0:00:56 - The impact of the Iran War on the energy sector 0:03:53 - Vulnerabilities to the global economy 0:06:42 - The three investment “buckets” 0:13:50 - A short break 0:14:54 - The position of the trust as it approaches a continuation vote 0:17:47 - Making the case for the strategy within a small trust 0:19:24 - Saba Capital, activist investors, and discount control 0:22:46 - The enhanced income strategy and a reduction in gearing 0:30:35 - Reflecting on incorporating energy transition 0:31:51 - Renewable energy trusts 0:33:50 - The case made to shareholders 0:36:12 - Consequences of an escalating crisis in the Middle East 0:37:30 - Hedging currency 0:39:17 - Close If you enjoy the weekly podcast, why not also try the Money Makers Circle? This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week the Circle features a profile of TwentyFour Income Fund (TFIF). Future profiles include Patria Private Equity (PPET) and J.P.Morgan Claverhouse (JCH). Our expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 320 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
Regular guest Andrew McHattie, editor of the Investment Trusts Newsletter, returns to the Money Makers Investment Trusts Podcast this week, discussing, amongst other things, the impact of the Middle East crisis on the investment trusts sector, the latest Saba Capital developments, and resignations at fund management firm CQS - with Jonathan Davis, editor of the Investment Trusts Handbook (winner of the AIC Best Broadcast Journalist Award 2024 and 2025). This discussion was recorded on Thursday 12 March 2026. Jonathan is now writing market and other comments on Substack (jdinvestor.substack.com), and for those of you who follow Money Makers on social media, two new channels are now available - TikTok (@moneymakers_its) and Bluesky (@money-makers.co). Do give us a follow! *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by 30 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:24 - Introduction 0:00:48 - The impact of the Iran crisis on the investment trusts sector 0:07:42 - Saba Capital and Edinburgh Worldwide (EWI) 0:15:57 - CQS Resignations 0:19:49 - A short break 0:20:53 - Pershing Square Holdings (PSH) 0:24:57 - Hydrogen Capital Growth (HGEN) 0:28:54 - Next Energy Solar Fund (NESF) 0:32:45 - Seraphim Space Investment Trust (SSIT) 0:36:21 - Cordiant Digital Infrastructure (CORD) 0:38:34 - Alliance Witan (ALW) 0:44:48 - Close If you enjoy the weekly podcast, why not also try the Money Makers Circle? This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. The Circle currently features a profile of BlackRock American Income (BRAI). Future profiles include TwentyFour Income Fund (TFIF) and Patria Private Equity (PPET). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 320 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
Do nine-ending prices really work? Will £9.99 sell more than £10.00? Can it be used for high-quality products? What about hedonic products? Can it be used on speed limits? For years this debate has raged on. But today on Nudge, I speak with pricing expert Dr Markus Husemann-Kopetzky to settle the argument. --- Markus' book: https://amzn.to/46Hetcg Unlock the Nudge Vaults: https://www.nudgepodcast.com/vaults Join 10,534 readers of my newsletter: https://www.nudgepodcast.com/mailing-list Connect on LinkedIn: https://www.linkedin.com/in/phill-agnew/ --- Today's sources: Gendall, P. (1998). Estimating the effect of odd pricing. Journal of Product & Brand Management, 7(5), 421–432. Husemann-Kopetzky, M. (2018). Handbook on the psychology of pricing: 100+ effects on persuasion and influence every entrepreneur, marketer and pricing manager needs to know. Independently published. ITN Archive. (2022, November 28). “I will not accept that it's a highly dangerous road” (1988) [Video]. YouTube. Kim, J., Novemsky, N., & Dhar, R. (2013). Adding small differences can increase similarity and choice. Psychological Science, 24(2), 176–182. Nunes, J. C., & Park, C. W. (2003). Incommensurate resources: Not just more of the same. Journal of Marketing Research, 40(1), 26–38. Rubinstein, A., & Yee, V. (2020). The left-digit bias: When and why are consumers penny wise and pound foolish? Journal of Marketing Research, 57(3), 467–485. Schindler, R. M., & Kibarian, T. M. (1996). Increased consumer sales response through use of 99-ending prices. Journal of Retailing, 72(2), 187–199. Shotton, R. (2018). The choice factory: 25 behavioural biases that influence what we buy. Harriman House. Suwelack, T., Hogreve, J., & Hoyer, W. D. (2011). Understanding money-back guarantees: Cognitive, affective, and behavioral effects. Journal of Retailing, 87(4), 462–478. Wadhwa, M., & Zhang, K. (2015). This number just feels right: The impact of roundedness of price numbers on product evaluations. Journal of Consumer Research, 41
In this edition of the Money Makers Investment Trusts Podcast, Paul ffolkes Davis, chairman of Rising Sun Management - the company which manages the Nippon Active Value Fund (NAVF) - discusses the impact of Japan's political shift following the recent election, activist investing, and market consolidation, with Jonathan Davis, editor of the Investment Trusts Handbook (winner of the AIC Best Broadcast Journalist Award 2024 and 2025). This discussion was recorded on Monday 02 March 2026. Jonathan is now writing market and other comments on Substack (jdinvestor.substack.com), and for those of you who follow Money Makers on social media, two new channels are now available - TikTok (@moneymakers_its) and Bluesky (@money-makers.co). Do give us a follow! *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by 30 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:24 - Introduction 0:01:09 - What Sanae Takaichi's win means for Japan and investors 0:04:53 - The no-hedging policy 0:05:50 - Purchasing power parity between the US and Japan 0:11:05 - Is there a need for activists? 0:16:27 - A short break 0:17:31 - Developing situations 0:18:46 - Resistance to foreign corporate takeovers 0:21:06 - Private equity 0:24:03 - Gearing 0:26:56 - Consolidation with the investment trusts sector 0:28:56 - Potential risks 0:31:54 - Close If you enjoy the weekly podcast, why not also try the Money Makers Circle? This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of BlackRock American Income (BRAI), with TwentyFour Income Fund (TFIF) coming soon. Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 320 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
Battery storage's rollercoaster ride! In this edition of the Money Makers Investment Trust Podcast, Ben Guest, lead manager of Gresham House Energy Storage (GRID), discusses the challenges the trust has faced over the last couple of years and the need for a change in mindset by the UK's energy grid management, with Jonathan Davis, editor of the Investment Trusts Handbook (winner of the AIC Best Broadcast Journalist Award 2024 and 2025). This discussion was recorded on 16 February 2026. Jonathan is now writing market and other comments on Substack (jdinvestor.substack.com), and for those of you who follow Money Makers on social media, two new channels are now available - TikTok (@moneymakers_its) and Bluesky (@money-makers.co). Do give us a follow! *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. The Handbook is an independent educational publication, available through bookshops and extensively online. With articles by 30 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:24 - Introduction 0:01:23 - A difficult couple of years 0:05:45 - Balancing the grid with batteries or gas 0:15:26 - Government actions and motivating change 0:16:29 - Waiting for the premise of the trust 0:20:09 - A short break 0:21:12 - Migration in the share register 0:23:37 - Is being in investment trust a benefit? 0:26:21 - Activist shareholders and the NAV 0:32:36 - Overcoming the block to using batteries 0:35:37 - Skip rates 0:37:54 - Government rejection of zonal pricing 0:41:47 - Close If you enjoy the weekly podcast, why not also try the Money Makers Circle? This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of the CT Global Managed Portfolio (CMPG/CMPI). Future profiles include BlackRock American Income (BRAI) and TwentyFour Income Fund (TFIF). Our expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 320 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
Japan's dramatic election: what it means for investors. In this edition of the Money Makers Investment Trust Podcast, Nicholas Wiendling, manager of J.P. Morgan Japanese (JFJ), discusses the landslide electoral win of Sanae Takaichi, the future of corporate governance reform and investment opportunities in the Japanese market, with Jonathan Davis, editor of the Investment Trusts Handbook (winner of the AIC Best Broadcast Journalist Award 2024 and 2025). This discussion was recorded on Tuesday 17 February 2026. For those of you who follow Money Makers on social media, two new channels are now available - TikTok (@moneymakers_its) and Bluesky (@money-makers.co). Do give us a follow! Jonathan is also now writing market and other comments on Substack (jdinvestor.substack.com). Section Timestamps: 0:00:24 - Introduction 0:01:06 - Reacting to the election result in Japan 0:06:01 - Japan's relationship with the US 0:07:25 - The Japanese bond market 0:09:05 - Corporate governance changes 0:13:33 - The yen 0:17:25 - A short break 0:18:28 - The Japanese corporate sector 0:20:47 - Performance of the Japanese investment trusts 0:23:15 - Style factors 0:26:37 - The sustainability of returns 0:27:41 - The portfolio and gearing 0:32:22 - Significant risks 0:33:52 - Close If you enjoy the weekly podcast, why not also try the Money Makers Circle? This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of Geiger Counter (GCL). Future profiles include CT Global Managed Portfolio (CMPI/CMPG) and BlackRock American Income (BRAI). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our 320 podcasts since launch. *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by 30 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award (2024 and 2025), is joined by Andrew McHattie, editor of the Investment Trusts Newsletter. This discussion was recorded on 12 February 2026. *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by 30 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:24 - Introduction 0:00:42 - Japan 0:08:08 - Switching away from the US 0:10:03 - The new chairman of the Federal Reserve 0:12:34 - Artificial intelligence and HgCapital Trust (HGT) 0:22:26 - 3i Infrastructure (3IN) 0:26:39 - A short break 0:27:43 - Saba Capital 0:34:52 - Saba's US holdings 0:36:38 - Digital 9 Infrastructure (DGI9) 0:39:59 - Oryx International Growth (OIG) 0:43:35 - Baker Steel Resources Trust (BSRT) 0:48:07 - Investment trusts in the FTSE100 0:52:03 - Close For those of you who follow Money Makers on social media, two new channels are now available - TikTok (@moneymakers_its) and Bluesky (@money-makers.co). Do give us a follow! If you enjoy the weekly podcast, why not also try the Money Makers Circle? This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. As well as the usual features, the Circle currently features a profile of Aberforth Geared Value and Income (AGVI). Future profiles include Geiger Counter (GCL) and CT Global Managed Portfolio (CMPG/CMPI). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our nearly 320 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award (2024 and 2025), is joined by Gabriel Sacks, lead manager at the Aberdeen Asia Focus Trust (AAS). This discussion was recorded on Friday 06 February 2026. *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by 30 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:24 - Introduction 0:01:21 - The objective of Aberdeen Asia Focus (AAS) 0:06:51 - The quality growth style 0:09:23 - Navigating a turbulent 2025 0:16:59 - A short break 0:18:03 - How the AI phenomenon might play out 0:24:36 - Assessing geopolitical tensions 0:28:06 - The Chinese and Indian economies 0:34:37 - The trust, its discount, and gearing 0:38:17 - Future prospects 0:40:42 - Close If you enjoy the weekly podcast, why not also try the Money Makers Circle? This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of Aberforth Geared Value & Income (AGVI). Future profiles include Geiger Counter (GCL) and CT Global Managed Portfolio (CMPI). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our nearly 320 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award (2024 and 2025), is joined by Jean Hugues de Lamaze, portfolio manager at Ecofin Global Utilities and Infrastructure (EGL), , to discuss the trust's investment themes, its portfolio management, and the energy transition alongside demand driven by AI. This discussion was recorded on Tuesday 27 January 2026. *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by 30 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:24 - Introduction 0:00:47 - An overview of the trust 0:02:16 - Why is EGL unique? 0:03:50 - The increasing demand for electricity production 0:08:52 - The need to invest in energy transmission 0:10:55 - Why invest with EGL over directly with listed utilities 0:13:36 - How the NAV total return has been generated 0:17:03 - A short break 0:18:07 - Breaking down the investment theme split 0:21:02 - The impact of the interest rate environment 0:24:24 - The share price performance and discount 0:28:02 - The size of the trust 0:32:19 - Is the market wrong? 0:36:42 - Capability for a double-digit return over the coming decade 0:38:15 - Currency exposure 0:39:21 - Close If you enjoy the weekly podcast, why not also try the Money Makers Circle? This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. As well as the usual features, the Circle currently features a profile of the Achilles Investment Company (AIC), with future profiles including Aberforth Geared Value & Income (AGVI) and Geiger Counter (GCL). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our nearly 320 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
Disclaimer: Money Makers has not had the opportunity to speak to the Chairman of Baillie Gifford Shin Nippon regarding the future of the investment trust, however it was deemed justified to publish this discussion on the ground of interest to shareholders with the proposal for a tender offer being put to a vote in mid-February. Money Makers remains neutral to the outcome for the trust. -- In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award (2024 and 2025), is joined by Edward Cartwright, CEO of Arcus Investment Management, to discuss the proposal to manage the Baillie Gifford Shin Nippon Trust (BGS). This discussion was recorded on Tuesday 27 January 2026. *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by 30 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:24 - Introduction 0:00:32 - The proposition to the board of Baillie Gifford Shin Nippon (BGS) 0:03:35 - The tender offer from BGS 0:09:52 - A short break 0:10:55 - Objectives at the upcoming tender offer meeting 0:14:13 - Getting the message out to retail shareholders 0:16:30 - The Japanese small cap market 0:20:46 - Close If you enjoy the weekly podcast, why not also try the Money Makers Circle? This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. As well as the usual features, the Circle currently features a profile of the Achilles Investment Company (AIC), with future profiles including Aberforth Geared Value & Income (AGVI) and Geiger Counter (GCL). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 300 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award (2024 and 2025), is joined by Peter Hewitt, former manager of the CT Global Managed Portfolio Trust (CMPI/CMPG). Names that feature include Scottish Mortgage (SMT), Templeton Emerging Markets (TEM), Edinburgh Worldwide (EWI), Herald (HRI) and several others in both the equity and alternatives subs-sectors. This discussion was recorded on Friday 23 January 2026. *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by 30 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:24 - Introduction 0:01:05 - Learning to live with Donald Trump 0:06:41 - The rise of gold and concerns around the dollar 0:09:10 - Looking at the Asian markets 0:13:54 - Management Style 0:21:14 - A short break 0:22:19 - Saba Capital and Edinburgh Worldwide (EWI) 0:28:04 - Allowing Saba to take such large stakes 0:35:19 - The alternatives sector 0:41:11 - The Six Nations 0:44:27 - Close If you enjoy the weekly podcast, why not also try the Money Makers Circle? This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of Achilles Investment Company (AIC). Future profiles include Aberforth Geared Value & Income (AGVI) and Geiger Counter (GCL). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 300 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
This study analysed 6,700 websites in an unprecedented A/B test. The results proved something that Dr Robert Cialdini had been preaching for years. Today, on Nudge, Robert Cialdini joins me again, covering another of his seven principles of persuasion. And I share a marketing lesson that (I think) every business needs to know. --- Unlock the Nudge Vaults: https://www.nudgepodcast.com/vaults See Agent Spark in action at gwi.com/spark Read Cialdini's bestseller Influence: https://amzn.to/4prHb7Y Read the new and expanded Influence: https://amzn.to/43TY0jI Read Pre-Suasion: https://amzn.to/48hA6Qr Read Yes! (Containing 60 Psyc-Marketing Tips): https://amzn.to/48ddNNf Join 10,189 readers of my newsletter: https://www.nudgepodcast.com/mailing-list Connect on LinkedIn: https://www.linkedin.com/in/phill-agnew/ --- Today's sources: Bell, T. [Taylor Bell]. (2025, February 13). Inside Trader Joe's: The genius strategy behind its cult following (and low prices) [Video]. YouTube. Bornstein, R. F., Leone, D. R., & Galley, D. J. (1987). The generalizability of subliminal mere exposure effects: Influence of stimuli perceived without awareness on social behavior. Journal of Personality and Social Psychology, 53(6), 1070–1079. Browne, D., & Swarbrick-Jones, A. (2017). The science of persuasion in e-commerce: An analysis of 6,700 online A/B tests. Conversion Rate Experts. Danziger, S., Levav, J., & Avnaim-Pesso, L. (2011). Extraneous factors in judicial decisions. Proceedings of the National Academy of Sciences of the United States of America, 108(17), 6889–6892. Drachman, D., deCarufel, A., & Insko, C. A. (1978). The extra credit effect in interpersonal attraction. Journal of Experimental Social Psychology, 14(5), 458–465. Fang, X., Singh, S. N., & Ahluwalia, R. (2007). An examination of different explanations for the mere exposure effect. Journal of Consumer Research, 34(1), 97–103. Gladka, A., & Żemła, M. (2016). Effectiveness of reciprocal rule in tourism: Evidence from a city tourist restaurant. European Journal of Service Management, 17(1), 57–63. Mita, T. H., Dermer, M., & Knight, J. (1977). Reversed facial images and the mere-exposure hypothesis. Journal of Personality and Social Psychology, 35(8), 597–601. Nicholson, C. Y., Compeau, L. D., & Sethi, R. (2001). The role of interpersonal liking in building trust in long-term channel relationships. Journal of the Academy of Marketing Science, 29(1), 3–15. Razran, G. (1940). Conditioned response changes in rating and appraisal. Psychological Bulletin, 37(6), 481–493. Shotton, R. (2023). The illusion of choice: 16½ psychological biases that influence what we buy. Harriman House. Strohmetz, D. B., Rind, B., Fisher, R., & Lynn, M. (2002). Sweetening the till: The use of candy to increase restaurant tipping. Journal of Applied Social Psychology, 32(2), 300–309. Zajonc, R. B., & Rajecki, D. W. (1969). Exposure and affect: A field experiment. Psychonomic Science, 17(4), 216–217.
In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award (2024 and 2025), is joined by Ashley Thomas, renewables infrastructure analyst at Winterflood Securities, to discuss the latest UK offshore wind auction and why the business model of the renewable energy investment trusts is broken This discussion was recorded on Friday 16 January 2026. *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by 30 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:24 - Introduction 0:00:39 - The latest offshore wind auction 0:07:35 - The offshore wind industry in general 0:09:54 - The health of the renewables investment trusts sector 0:12:33 - The relationship with gilt yields 0:16:30 - Dealing with discounts and debt capacity 0:23:30 - A short break 0:24:33 - Consolidation clues from the abandoned HICL-TRIG merger? 0:26:49 - Bluefield Solar Income Fund (BSIF) 0:29:26 - Other elements of the renewable energy sector 0:39:31 - Close If you enjoy the weekly podcast, why not also try the Money Makers Circle? This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. The latest profile available to Circle subscribers is of BH Macro (BHMG/BHMU). Future profiles include Achilles Investment Company (AIC) and Aberforth Geared Value & Income (AGVI). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 310 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award (2024 and 2025), is joined by Jonathan Simpson-Dent, chairman of Edinburgh Worldwide (EWI), a trust which is once again being targeted by Saba Capital. This discussion was recorded on Monday 05 January 2026. *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by 30 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:24 - Introduction 0:00:54 - Saba's latest attempt to shake-up EWI's board 0:05:09 - Shareholder awareness of the need to vote 0:06:43 - Engagement with Saba throughout 2025 0:12:29 - Making the case for performance 0:15:58 - Recent events and SpaceX 0:20:34 - A short break 0:21:40 - The merger proposal 0:26:46 - The best outcome for EWI 0:28:48 - Saba's future involvement 0:30:39 - Saba's proposed non-executive directors 0:33:50 - Addressing allegations from Saba 0:36:30 - The core messages 0:37:55 - Close If you enjoy the weekly podcast, why not also try the Money Makers Circle? This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of BG Macro (BHMG/BHMU), which will be followed next week by Aberforth Geared Value & Income Trust (AGVI). Our weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 310 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
In this special, end of year edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award (2024 and 2025), is joined by four guests for their comments on the year just gone and the outlook for 2026. Those guests are Ben Conway, James Carthew, Anthony Leatham, and Max King These discussions were recorded between 12-18 December 2025. *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by 30 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:24 - Looking back at 2025 0:04:37 - Investment Trusts Handbook 2026 0:05:32 - Ben Conway 0:13:49 - James Carthew 0:23:58 - A short break 0:25:04 - Anthony Leatham 0:36:31 - Max King 0:47:18 - Close If you enjoy the weekly podcast, why not also try the Money Makers Circle? This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. Our weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 310 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
How would you encourage Australians to drive slower? That's what today's guest on Nudge, Adam Ferrier, had to do. Being an applied behavioural scientist, he tackled this challenge in a novel way. Listen to hear about his interesting campaign, how Jaws killed surfing and the secret behind Derren Brown's “hypnosis” trick. --- Watch the bonus episode: https://nudge.kit.com/66dcb18641 Adam's agency: https://thinkerbell.com/ Adam's books: https://amzn.to/431eYfD Sign up for my newsletter: https://www.nudgepodcast.com/mailing-list Connect on LinkedIn: https://www.linkedin.com/in/phill-agnew-22213187/ Watch Nudge on YouTube: https://www.youtube.com/@nudgepodcast/ --- Today's sources: Cialdini, R. B. (1984). Influence: The psychology of persuasion. William Morrow. Shotton, R. (2023). The illusion of choice: 16½ psychological biases that influence what we buy. Harriman House. Sutherland, S. (1992). Irrationality: The enemy within. Constable.
In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award (2024 and 2025), is joined by Andrew McHattie, editor of the Investment Trusts Newsletter. This discussion was recorded on Friday 19 December 2025. We would like to wish all of our listeners a very merry Christmas. Thank you for listening in 2025 and we hope you join us throughout 2026 as we continue to report on developments in the investment trusts sector. *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by 30 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:24 - The investment trusts sector in 2025 0:02:44 - The FCA announcement on cost disclosure 0:07:05 - SpaceX developments 0:12:45 - Saba Capital and an EWI-USA merger 0:16:38 - Saba and Renewables 0:25:27 - A short break 0:26:33 - Chrysalis (CHRY) 0:31:26 - Private equity in general 0:36:25 - RTW Biotech Opportunities (RTW) 0:39:18 - Japanese investment trusts 0:44:04 - Three select results (PCT, FCSS, TEM) 0:48:00 - Looking towards 2026 0:49:14 - Investment Trusts Handbook 2026 0:50:32 - Close If you enjoy the weekly podcast, why not also try the Money Makers Circle? This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of Ashoka WhiteOak Emerging Markets (AWEM). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 310 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award (2024 and 2025), is joined by Charlotte Cuthbertson and Tom Treanor, co-managers of MIGO Opportunities Trust (MIGO). This discussion was recorded on Tuesday 09 December 2025. *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by 30 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:24 - Introduction 0:00:50 - Recent changes at MIGO 0:07:16 - Opportunities in smaller trusts 0:09:09 - The argument for MIGO 0:12:53 - Examples of successes 0:19:39 - Overlap with AGT 0:22:49 - A short break 0:23:56 - Alternatives trusts 0:27:50 - Renewables 0:33:55 - Consolidation 0:37:48 - Gresham House Energy Storage (GRID) 0:40:18 - Operational framework changes for the renewables sector 0:41:58 - MIGO Opportunities Trust itself 0:44:35 - Close If you enjoy the weekly podcast, why not also try the Money Makers Circle? This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of Onward Opportunities (ONWD), and next week's profile will feature Ashoka WhiteOak Emerging Markets (AWEM). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our 310 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
Due to a technical issue, the audio quality in this edition is a bit lower than normal, for which we apologise. -- In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award (2024 and 2025), is joined by Peter Spiller, manager of Capital Gearing Trust (CGT), for an in-depth review of investment trusts yesterday, today and tomorrow. Saba, Smithson, discount controls, private equity and the coming market crisis among the issues covered. This discussion was recorded on Thursday 04 December 2025. *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by 30 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:24 - Introduction 0:01:02 - The historical context for discounts 0:05:41 - Consolidation and mergers 0:14:49 - Discount control and the measures available to boards 0:19:41 - A short break 0:20:48 - The now-abandoned HICL-TRIG merger and the renewables infrastructure sector 0:25:32 - Listed private equity in general 0:28:46 - Future perceptions of the alternatives sector 0:34:56 - The risk of a market crisis 0:39:25 - The chairman of the Federal Reserve 0:43:00 - Close If you enjoy the weekly podcast, why not also try the Money Makers Circle? This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of Onward Opportunities (ONWD), and next week's profile will feature Ashoka WhiteOak Emerging Markets (AWEM). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our nearly 310 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award for two years running (2024 and 2025), is joined by Steven Tredget, partner at Oakley Capital, the management firm of Oakley Capital Investments (OCI). This discussion was recorded on Mon 01 December 2025. *** COMING SOON: The 2026 Investment Trusts Handbook *** Available for pre-order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by more than 20 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:24 - Introduction 0:01:18 - About Oakley Capital Investments (OCI) 0:06:06 - The typical holding period and target returns 0:12:47 - NAV performance 0:19:17 - Funding commitments 0:24:39 - A short break 0:25:43 - Oakley's discount and capital allocation policy 0:34:03 - The share register 0:38:42 - Cost disclosure 0:40:55 - Volatility in valuations 0:44:35 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers Circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of Aberdeen Asian Income (AAIF). Future profiles include Onward Opportunities (ONWD) and Ashoka WhiteOak Emerging Markets (AWEM). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our nearly 310 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award for two years running (2024 and 2025), is joined by Joe Bauernfreund, lead manager at the AVI Global Trust (AGT). This discussion was recorded on Thursday 27 November 2025. *** COMING SOON: The 2026 Investment Trusts Handbook *** Available for pre-order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by more than 20 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:24 - Introduction 0:01:05 - The Budget announcement 0:02:54 - The global outlook and prospects for interest rates 0:04:17 - The AI theme 0:05:15 - Alternative assets 0:21:32 - A short break 0:22:38 - The achievements of Saba Capital 0:24:39 - Consolidation 0:28:13 - Investing in Korea and Japan 0:35:18 - Holding companies 0:38:35 - News Corp 0:42:04 - The outlook for AVI Global 0:44:18 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers Circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of Allianz Technology (ATT). Future profiles include Aberdeen Asian Income (AAIF) and Onward Opportunities (ONWD). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our nearly 310 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award for two years running (2024 and 2025), is joined by Jim Strang, chairman of HgCapital Trust (HGT), advisor to private equity firms, and teacher of private equity at the London Business School. This discussion was recorded on Monday 17 November 2025. *** COMING SOON: The 2026 Investment Trusts Handbook *** Available for pre-order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by more than 20 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:24 - Introduction 0:01:00 - Private equity in general 0:09:35 - Reliability of valuations 0:12:21 - Listed private equity discounts 0:18:55 - A short break 0:20:01 - Looking at HgCapital Trust (HGT) 0:22:24 - The level of concentration in the portfolio 0:25:14 - Commitments vs available finance 0:30:30 - Co-investments 0:33:44 - AI and software businesses 0:39:06 - A changing market and confidence going forward 0:44:29 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers Circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of Baillie Gifford China Growth (BGCG). Future profiles include Allianz Technology (ATT) and Aberdeen Asian Income (AAIF). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 300 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award for two years running (2024 and 2025), is joined by Andrew McHattie, editor of the Investment Trusts Newsletter. This discussion was recorded on Friday 14 November 2025. *** COMING SOON: The 2026 Investment Trusts Handbook *** Available for pre-order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by more than 20 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:24 - Introduction 0:01:00 - Smithson Investment Trust (SSON) 0:10:35 - Franklin Global Trust (FRGT) merger with Invesco Global Equity Income (IGET) 0:12:26 - Pacific Assets Trust (PAC) 0:15:59 - Henderson Far East Income (HFEL) 0:18:26 - A short break 0:19:32 - 3i Group (III) and 3i Infrastructure (3IN) 0:26:21 - Scottish Mortgage (SMT) and Fidelity Special Values (FSV) 0:32:24 - Hydrogen Capital Growth (HGEN) 0:35:58 - Home REIT 0:37:42 - Money Makers Circle and the Investment Trusts Handbook 2026 0:38:21 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers Circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of Impax Environmental (IEM). Future profiles include Baillie Gifford China Growth (BGCG) and Allianz Technology (ATT). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 300 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award for two years running (2024 and 2025), is joined by Peter Hewitt, former manager of the CT Global Managed Portfolio Trust (CMPI/CMPG). This discussion was recorded on Friday 07 November 2025. *** COMING SOON: The 2026 Investment Trusts Handbook *** Available for pre-order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by more than 20 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:24 - Introduction 0:01:00 - The big picture for global markets 0:04:43 - The mood in small caps 0:11:11 - Emerging markets 0:15:44 - The shrinking universe 0:18:07 - Saba Capital 0:24:19 - A short break 0:25:26 - The renewables sector 0:32:09 - Commercial property 0:34:04 - The rugby 0:37:12 - The Investment Trusts Handbook 2026 0:38:32 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers Circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of Scottish American (SAIN). Future profiles include Impax Environmental Markets (IEM) and Baillie Gifford China Growth (BGCG). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 300 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
We apologise for the delay in publication of this edition via podcast channels, due to a technical issue beyond our control. -- In a break from the norm in this week's edition of the Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award for two years running (2024 and 2025), takes his own look at the investment trusts sector over the year to date. This edition was recorded on Thursday 23 October 2025. *** Out now: The 2025 Investment Trusts Handbook *** The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. Available to order from Harriman House (https://harriman-house.com/ithb2025) or Amazon. There is also a free e-book version you can read on a PC, tablet or smartphone, plus an audiobook version. *** Section Timestamps: 0:00:24 - Introduction 0:05:05 - Saba Capital 0:11:12 - The sector's response to Saba Capital 0:16:20 - A short break 0:17:26 - Making the case for investment trusts 0:20:30 - Money Makers' independent trust profiles 0:20:57 - The impact of global events 0:24:17 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers Circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of Henderson Smaller Companies (HSL). Future profiles include Seraphim Space (SSIT) and Scottish American (SAIN). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 300 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award for two years running (2024 and 2025), is joined by Andrew McHattie, editor of the Investment Trusts Newsletter. This discussion was recorded on Thursday 16 October 2025. *** Out now: The 2025 Investment Trusts Handbook *** The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. Available to order from Harriman House (https://harriman-house.com/ithb2025) or Amazon. There is also a free e-book version you can read on a PC, tablet or smartphone, plus an audiobook version. *** Section Timestamps: 0:00:24 - Introduction 0:01:11 - M&A and the Biotech sector 0:06:56 - Manchester and London (MNL) 0:11:09 - Cordiant Digital Infrastructure (CORD) 0:14:35 - The commodities sector 0:19:09 - A short break 0:20:15 - Commercial property 0:24:08 - TwentyFour Income Fund (TFIF) 0:26:40 - Seraphim Space Investment Trust (SSIT) 0:29:46 - Saba Capital 0:33:47 - Some good results 0:40:09 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers Circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of the Mobius Investment Trust (MMIT). Future profiles include Henderson Smaller Companies (HSL) and Scottish American (SAIN). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 300 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
Investing in funds is not straightforward. We are faced with a countless range of options and constantly distracted by meaningless noise and turbulent markets. To make matters worse, our flawed beliefs and behavioural biases lead to repeated and costly mistakes, such as a damaging obsession with past performance and a dangerous attraction to thematic funds. There is a solution―a more intelligent way to invest in funds. In The Intelligent Fund Investor: Practical Steps for Better Results in Active and Passive Funds (Harriman House, 2022), experienced portfolio manager and behavioural finance expert Joe Wiggins brings simplicity and clarity to fund investing. Each chapter of this fascinating and highly readable book focuses on a vital element of investing in funds―exploring how and why investors can get it badly wrong, and providing direct, actionable steps for better results. Joe reveals: why we should avoid investing with star managers; how to decide between active and passive funds; why we should beware of smooth performance and captivating stories; why risk is far more than just volatility; the importance of a long time horizon; and much, much more. Using a combination of stories, empirical evidence and experience, Joe gives all fund investors―active and passive―what they need to reassess their beliefs, understand their biases, and make better investment decisions. John Emrich has worked for decades years in corporate finance, business valuation and fund management. He has a podcast about the investment space called Kick the Dogma. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network
Investing in funds is not straightforward. We are faced with a countless range of options and constantly distracted by meaningless noise and turbulent markets. To make matters worse, our flawed beliefs and behavioural biases lead to repeated and costly mistakes, such as a damaging obsession with past performance and a dangerous attraction to thematic funds. There is a solution―a more intelligent way to invest in funds. In The Intelligent Fund Investor: Practical Steps for Better Results in Active and Passive Funds (Harriman House, 2022), experienced portfolio manager and behavioural finance expert Joe Wiggins brings simplicity and clarity to fund investing. Each chapter of this fascinating and highly readable book focuses on a vital element of investing in funds―exploring how and why investors can get it badly wrong, and providing direct, actionable steps for better results. Joe reveals: why we should avoid investing with star managers; how to decide between active and passive funds; why we should beware of smooth performance and captivating stories; why risk is far more than just volatility; the importance of a long time horizon; and much, much more. Using a combination of stories, empirical evidence and experience, Joe gives all fund investors―active and passive―what they need to reassess their beliefs, understand their biases, and make better investment decisions. John Emrich has worked for decades years in corporate finance, business valuation and fund management. He has a podcast about the investment space called Kick the Dogma. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics
In the 300th edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award for two years running (2024 and 2025), is joined by Anthony Lynch, portfolio manager at J.P.Morgan Claverhouse (JCH). This discussion was recorded on Wednesday 08 October 2025 *** Out now: The 2025 Investment Trusts Handbook *** The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. Available to order from Harriman House (https://harriman-house.com/ithb2025) or Amazon. There is also a free e-book version you can read on a PC, tablet or smartphone, plus an audiobook version. *** Section Timestamps: 0:00:24 - Celebrating 300 episodes of the podcast! 0:02:55 - Introducing Anthony Lynch 0:03:21 - Modification of the trust's strategy 0:06:05 - The Claverhouse USP 0:10:24 - Using the advantages of the investment trust structure 0:13:37 - Dividend yield 0:16:49 - The shape of the portfolio 0:23:18 - A short break 0:24:25 - The UK market 0:27:23 - The impact of the new UK government 0:31:15 - The portfolio 0:32:54 - Assessing risks 0:34:59 - M&A and IPOs 0:39:19 - On the name ‘Claverhouse' 0:40:57 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers Circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of Polar Capital Global Financials (PCFT). Future profiles include Mobius Investment Trust (MMIT) and Henderson Smaller Companies (HSL). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our 300 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award for two years running (2024 and 2025), is joined by Richard Staveley, lead manager at Rockwood Strategic (RKW). This discussion was recorded on Tuesday 07 October 2025. *** Out now: The 2025 Investment Trusts Handbook *** The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. Available to order from Harriman House (https://harriman-house.com/ithb2025) or Amazon. There is also a free e-book version you can read on a PC, tablet or smartphone, plus an audiobook version. *** Section Timestamps: 0:00:24 - Introduction 0:01:06 - The impact of worldwide events on the RKW portfolio 0:10:18 - Argentex PLC 0:16:09 - RM PLC 0:21:34 - A short break 0:22:41 - Good news stories 0:25:49 - The trust's capacity 0:30:54 - Looking ahead 0:38:27 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers Circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of Polar Capital Global Financials (PCFT). Future profiles include Mobius Investment Trust (MMIT) and Henderson Smaller Companies (HSL). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our nearly 300 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award for two years running (2024 and 2025), is joined by Keith Watson and Robert Crayfourd, co-portfolio managers for Golden Prospect Precious Metals. This discussion was recorded on 25 September 2025. *** Out now: The 2025 Investment Trusts Handbook *** The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. Available to order from Harriman House (https://harriman-house.com/ithb2025) or Amazon. There is also a free e-book version you can read on a PC, tablet or smartphone, plus an audiobook version. *** Section Timestamps: 0:00:24 - Introduction 0:01:17 - A synopsis of Goldren Prospect Precious Metals (GPM) 0:03:53 - Price of miners vs price of gold 0:06:45 - Factors driving up the gold price 0:10:43 - The rally in mining stocks 0:20:09 - Managing currency exposure 0:21:52 - A short break 0:22:59 - The price of miners 0:27:03 - Silver 0:29:19 - Ambitions for the trust 0:32:20 - Comparing GPM to other vehicles under management 0:36:02 - The share register 0:36:58 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers Circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of the Renewables Infrastructure Group (TRIG). Future profiles include Polar Capital Global Financials (PCFT) and Mobius Investment Trust (MMIT). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. * For more information please visit https://money-makers.co/circle. * Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our nearly 300 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Bronwyn Curtis, chairperson of TwentyFour Income Fund (TFIF) and Aza Teeuwen, a fund manager from the same trust. This discussion was recorded on Tue 23 September 2025. *** Out now: The 2025 Investment Trusts Handbook *** The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. Available to order from Harriman House (https://harriman-house.com/ithb2025) or Amazon. There is also a free e-book version you can read on a PC, tablet or smartphone, plus an audiobook version. *** Section Timestamps: 0:00:24 - Introduction 0:01:28 - TwentyFour Income Fund (TFIF) 0:04:22 - The history behind the launch of the trust 0:07:12 - Asset-backed securities 0:10:19 - Underlying risk 0:15:54 - The offering to private investors 0:24:13 - A short break 0:25:19 - Differentiation from the competition 0:29:06 - Freedom from capacity restraints 0:33:36 - The realisation opportunity 0:36:24 - The investment trust structure 0:40:23 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers Circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of Montanaro UK Smaller Companies (MTU). Future profiles include the Renewables Infrastructure Group (TRIG) and Polar Capital Global Financials (PCFT). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our nearly 300 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Peter Hewitt, the former manager of the CT Global Managed Portfolio Trust (CMPI/CMPG). This discussion was recorded on Friday 19 September 2025. *** Out now: The 2025 Investment Trusts Handbook *** The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. Available to order from Harriman House (https://harriman-house.com/ithb2025) or Amazon. There is also a free e-book version you can read on a PC, tablet or smartphone, plus an audiobook version. *** Section Timestamps: 0:00:24 - Introduction 0:01:33 - The investment trust sector this year 0:06:37 - Tackling discounts 0:12:56 - The trend of a shrinking sector 0:16:44 - Reacting to underperformance 0:22:02 - The income component and yield 0:27:24 - A short break 0:28:31 - The performance of renewables 0:33:42 - Peter's portfolio 0:39:18 - Europe and Asia 0:43:01 - A quick word on rugby! 0:44:12 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers Circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of AEW UK REIT (AEWU). Future profiles include Montanaro UK Smaller Companies (MTU) and the Renewables Infrastructure Group (TRIG). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 290 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Andrew McHattie, editor of the Investment Trusts Newsletter. This discussion was recorded on Friday 12 September 2025. *** Out now: The 2025 Investment Trusts Handbook *** The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. Available to order from Harriman House (https://harriman-house.com/ithb2025) or Amazon. There is also a free e-book version you can read on a PC, tablet or smartphone, plus an audiobook version. *** Section Timestamps: 0:00:24 - Introduction 0:01:00 - Chrysalis (CHRY) 0:07:12 - Merger proposals in the European sector 0:11:32 - Golden Prospect Precious Metals (GPM) 0:15:15 - PRS Reit (PRSR) 0:18:50 - Third Point Investors (TPOU) 0:21:10 - A short break 0:22:16 - Saba Capital 0:27:11 - Baillie Gifford Shin Nippon (BGS) 0:32:55 - Dunedin Income and Growth (DIG) 0:37:51 - Long-term asset funds (LTAFs) 0:43:10 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers Circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of the Herald Investment Trust (HRI). Future profiles include AEW UK REIT (AEWU) and Montanaro UK Smaller Companies (MTU). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 290 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Alastair Laing, CEO of CG Asset Management. This discussion was recorded on Thursday 04 September 2025. *** Out now: The 2025 Investment Trusts Handbook *** The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. Available to order from Harriman House (https://harriman-house.com/ithb2025) or Amazon. There is also a free e-book version you can read on a PC, tablet or smartphone, plus an audiobook version. *** Section Timestamps: 0:00:24 - Introduction 0:00:45 - The government bond markets 0:09:46 - Understanding duration and the effect on bond prices 0:12:21 - Nominal yields and real yields 0:17:06 - The equity markets 0:23:27 - The outlook for the dollar 0:26:11 - The price of gold 0:28:55 - A short break 0:30:01 - Investment trust exposure 0:33:17 - The alternatives sector 0:41:05 - Tackling discounts 0:44:29 - Performance of the trust 0:47:23 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers Circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of Lindsell Train Investment Trust (LTI). Future profiles include Herald Investment Trust (HRI) and AEW UK REIT (AEWU). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 290 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk
What determines who you vote for? You probably think it's due to rational reasons. Economy. Sustainability. Immigration. Growth. But research shows that your choice of vote isn't as logical as you might expect. In fact, all of our votes can be swayed by a largely irrelevant factor. And this factor can be used to change what we eat, wear, drink and buy. Hear how, on today's episode of Nudge with Phil Graves. --- Phil's book: https://shorturl.at/kzAta Phil's consultancy: https://www.philipgraves.net/consultancy/ Subscribe to the (free) Nudge Newsletter: https://nudge.ck.page/profile Connect on LinkedIn: https://www.linkedin.com/in/phill-agnew-22213187/ Watch Nudge on YouTube: https://www.youtube.com/@nudgepodcast/ --- Today's sources: Cialdini, R. B., Reno, R. R., & Kallgren, C. A. (1990). A focus theory of normative conduct: Recycling the concept of norms to reduce littering in public places. Journal of Personality and Social Psychology, 58(6), 1015–1026. Davis, C. J., Bowers, J. S., & Memon, A. (2011). Social influence in televised election debates: A potential distortion of democracy. PLoS ONE, 6(3), e18154. Latané, B., & Darley, J. M. (1968). Group inhibition of bystander intervention in emergencies. Journal of Personality and Social Psychology, 10(3), 215–221. Martin, S. J. (2024). Influence at work: Capture attention, connect with others, convince people to act. The Economist Books (Pegasus Books). Tanner, R. J., Ferraro, R., Chartrand, T. L., Bettman, J. R., & Van Bagren, R. (2008). Of chameleons and consumption: The impact of mimicry on choice and preferences. Journal of Consumer Research, April. Trott, D. (2023). Crossover creativity: Real-life stories about where creativity comes from. Harriman House.
97% of independent films fail. Boiling Point did not. Today, I chat with executive producer Paul Mellor to learn how this movie applied psychological principles to outperform its peers and compete against blockbusters like James Bond. --- Join the Nudge Vaults waiting list: https://www.nudgepodcast.com/vaults Paul's 13.5 ways to grow an underdog: https://www.mellorandsmith.com/13-ways-to-grow-your-underdog-brand Paul's agency: https://www.mellorandsmith.com/ Subscribe to the (free) Nudge Newsletter: https://nudge.ck.page/profile Connect on LinkedIn: https://www.linkedin.com/in/phill-agnew-22213187/ Watch Nudge on YouTube: https://www.youtube.com/@nudgepodcast/ --- Binet, L., & Carter, S. (2018). How Not to Plan: 66 ways to screw it up. APG/Matador. Cialdini, R. B. (2016). Pre‑suasion: A revolutionary way to influence and persuade. Simon & Schuster. Ryan, J. D., & Cohen, N. J. (2004). The nature of change detection and online representations of scenes. Journal of Experimental Psychology: Human Perception and Performance, 30(5), 988–1015. Trott, D. (2019). Creative Blindness (and How to Cure It): Real‑life stories of remarkable creative vision. Harriman House. van den Broek, E., & den Heijer, T. (2024). The Housefly Effect: How nudge psychology steers your everyday behaviour. Bedford Square Publishers.
How would you encourage sustainable behaviour? You might assume logical messages work best. Stuff like “the average three-hour flight creates ~250–400 kg of CO₂”. But today's guest on Nudge has tested logical messages. And they don't work. Today on Nudge, Toby Park from the Behavioural Insights Team explains how renaming a meat-free dish doubled its sales. Why targeting home-movers made Americans 400% more likely to cycle. How social norms can increase sales by 20%. And the reframing led the majority of Brits to choose energy-efficient fridges. --- Watch the bonus episode: https://nudge.kit.com/27720ca0ad Connect with Toby on LinkedIn: https://www.linkedin.com/in/toby-park-67773279/ Read Toby's Net Zero Report: https://shorturl.at/Wy8RP How to Build a Net Zero Society: https://shorturl.at/0PcRk Sign up for my newsletter: https://www.nudgepodcast.com/mailing-list Connect on LinkedIn: https://www.linkedin.com/in/phill-agnew-22213187/ Watch Nudge on YouTube: https://www.youtube.com/@nudgepodcast/ --- Sources: Das, G., Spence, M. T., & Agarwal, J. (2021). Social selling cues: The dynamics of posting numbers viewed and bought on customers' purchase intentions. International Journal of Research in Marketing, 38(4), 994–1016. Kirkman, E. (2019). Free riding or discounted riding? How the framing of a bike share offer impacts redemption. Journal of Behavioral Public Administration, 2(2), 1–10. Park, T., Whincup, E., Parker, F., & Bhura, A. (2024). Net Zero communications, marketing and public engagement: Why we need it, and what we can learn from past case studies [Report]. Behavioural Insights Team. Shotton, R. (2018). The Choice Factory: 25 behavioural biases that influence what we buy. Harriman House. Sparkman, G., & Walton, G. M. (2017). Dynamic norms promote sustainable behavior, even if it is counternormative. Psychological Science, 28(11), 1663–1674. Turnwald, B. P., Boles, D. Z., & Crum, A. J. (2017). Association Between Indulgent Descriptions and Vegetable Consumption: Twisted Carrots and Dynamite Beets. JAMA Internal Medicine, 177(8), 1216–1218. Vennard, D., Park, T., & Attwood, S. (2019). Encouraging Sustainable Food Consumption By Using More-Appetizing Language.
Sébastien Page explores how great leaders navigate failure, conflict, pressure, and purpose. — YOU'LL LEARN — 1) How agreeableness holds you back 2) How to know whether a goal is still worth pursuing 3) How to make stress work for you Subscribe or visit AwesomeAtYourJob.com/ep1056 for clickable versions of the links below. — ABOUT SÉBASTIEN — Sébastien Page is Head of Global Multi-Asset and Chief Investment Officer at T. Rowe Price. He has more than two decades of leadership experience and has done extensive research on positive, sports, and personality psychology. He currently oversees a team of investment professionals actively managing over $500 billion in Assets Under Management. Page has written two finance books: Beyond Diversification: What Every Investor Needs to Know, and the co-authored Factor Investing and Asset Allocation, and he has won six annual research-paper awards: two from The Financial Analysts Journal and four from The Journal of Portfolio Management. He appears regularly on CNBC and Bloomberg TV, and in 2022 was named a Top Voice in Finance by LinkedIn. He has been quoted extensively in The New York Times, The Wall Street Journal, and Barron's. His latest book, The Psychology of Leadership, is on sale now from Harriman House. Page lives in Maryland with his wife and kids.• Book: The Psychology of Leadership: Timeless principles to improve your management of individuals, teams… and yourself! • LinkedIn: Sébastien Page• Website: PsychologyofLeadership.net — RESOURCES MENTIONED IN THE SHOW — • Book: Can't Hurt Me: Master Your Mind and Defy the Odds by David Goggins • Book: Never Finished: Unshackle Your Mind and Win the War Within by David Goggins • Book: Open: An Autobiography by Andre Agassi • Book: Quit: The Power of Knowing When to Walk Away by Annie Duke • Book: The Coaching Habit: Say Less, Ask More & Change the Way You Lead Forever by Michael Bungay Stanier • Book: The 7 Habits of Highly Effective People: Powerful Lessons in Personal Change by Stephen Covey • Past episode: 727: How to Start Something New and See it Through with Michael Bungay Stanier— THANK YOU SPONSORS! — • Strawberry.me. Claim your $50 credit and build momentum in your career with Strawberry.me/AwesomeSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
There is one straightforward trick to help you remember more. Today, Dr. Ranganath reveals why testing yourself (even when you fail) can supercharge your memory. You'll learn: Why re-reading notes doesn't work, but testing yourself does. How a study with dental students proved the power of error-driven learning. Why guessing the answer before hearing it makes information stick. The science-backed technique that beats cramming for exams. How I memorised my (embarrassing) best man speech ---- Sign up to my newsletter: https://www.nudgepodcast.com/mailing-list Connect on LinkedIn: https://www.linkedin.com/in/phill-agnew-22213187/ Watch Nudge on YouTube: https://www.youtube.com/@nudgepodcast/ Charan's book Why We Remember: https://charanranganath.com/ ---- Sources: Ebbinghaus, H. (1885). Über das Gedächtnis: Untersuchungen zur experimentellen Psychologie. Duncker & Humblot. Karpicke, J. D., & Roediger, H. L., III. (2008). The critical importance of retrieval for learning. Science, 319(5865). Liu, X. L., O'Reilly, R. C., & Ranganath, C. (2021). Effects of retrieval practice on tested and untested information: Cortico-hippocampal interactions and error-driven learning. Psychology of Learning and Motivation, 75, 125–155. Ranganath, C. (2024). Why we remember: Unlocking memory's power to hold on to what matters. Doubleday. Roediger, H. L., III, & Karpicke, J. D. (2006). Test-enhanced learning: Taking memory tests improves long-term retention. Psychological Science, 17(3). Shotton, R. (2023). The illusion of choice: 16 ½ psychological biases that influence what we buy. Harriman House. Varghese, A. S., Sankeshwari, R. M., Ankola, A. V., Santhosh, V. N., Chavan, P., Hampiholi, V., Khot, A. J. P., & Shah, M. A. (2024). Effectiveness of error-based active learning compared to conventional lecture-based method among undergraduate dental students: A randomized controlled trial. Journal of Education and Health Promotion, 13, 268.
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