Podcasts about interactive investor

Some excellent questions this week, as always, and with the added bonus of moving the podcast onto YouTube! Join Pete and Rog as they answer questions about finance management apps, investment platform selection and transitional tax-free allowance certificates! Shownotes: https://meaningfulmoney.tv/QA32  01:39  Question 1  Hi Pete and Roger    Thanks so much for all the work you do, I've only found the podcast recently but already enjoying learning more and thinking about things differently.   My question relates to saving for retirement and specifically the period leading up to retiring.  Nearly all of our (mine and my husband's) pensions are in SIPPs where we have been happy to be 100% equity, in global index funds. We are now maybe 7-10 years from the point where we could retire, and I've been able to research withdrawal strategies to the point where I'm confident managing that when we get there.  We have determined our target asset allocation split between equities / bond funds / individual gilts and money market funds for the start point of retirement. I haven't been able to find much information about the period of transition from 100% equity to the asset allocation we want in place for the start of retirement.  Obviously it's a balance between reducing exposure to volatility as we approach retirement and accepting a drag on the portfolio caused by the increasing allocation to cash and bonds and my instinctive (but not evidence-based!) approach would be to gradually move from one to the other over a number of years.  So my question is this - is there a better approach than just a straightline shift from one to the other?  How far out from retirement is it appropriate to start making the transition?  The best advice I can find online is just to pick whatever makes you feel comfortable and do that but surely there must be some more robust guidance out there?  I appreciate it might not be a one size fits all answer but would appreciate your thoughts on how to approach this. The one piece of advice I do seem to have found is that however we decide to do it, to stick to a predetermined schedule to avoid temptation to try to time the market - does that sound sensible or have I missed the mark on that? Thanks so much for any help you can give. Fran   08:28  Question 2 Hello I listen to your show when out on walks and find it helpful for somebody who struggles at times with pension planning I am 55 and myself and colleagues were told we had to leave the Final Salary pension scheme in 2019, the flipside being we would still have employment and our final salary pension would be triggered at reduced age of 50, although we would only get the years paid into rather than the magic 40 years which would give 40/80ths of your final salary. So, for me , mine was triggered in 2020 and it was around 32/80ths (paid in since age 17), and I still remain in employment. At this time I received a statement saying my pension had triggered, I had opted for the smaller lump sum (we had two options and some took the larger sum).  There was no option to not take a tax free lump sum. I received a statement from the pension provider and it stated I was using 57% of the LTA Now,  since 2024 the P60 I receive from the pension provider annually now shows how much of the LSA I have used, this shows an amount of £153k , which equates to the same 57% , this time of the tax free lump sum allowance of £268k   (I have rounded the figures). However, the actual lump sum I received was £80k - so should I not have £199k left to use up ? As I got my lump sum prior to 2024 and it is far lower than the standard calculation used to generate £153k used figure , do I not have any protected rights and able to dispute this ?   It seems unfair that others who opted for double the tax free lump sum I received will be treat the same as myself regarding what tax free lump sum they can get in future  (We all pay into a company DC scheme these past 6 year, with a different provider). I have read about Transitional Tax Certificates but unsure if they are relevant to my scenario. I was unsure if the onus is on myself to take some action, or if the above is correct and that is how it works. Any advice would be appreciated and may help others in a similar scenario also. Many thanks, Jason   13:15  Question 3 Hi both, Thank you for all the great content, my question relates to financial planning as a couple. My partner and I are getting married next year and plan to combine finances at that time. We will also be looking to buy our first home in the next few years. Aside from some lifestyle creep, we are both 'good' with money and have worked with monthly budget systems before. We are looking for a system to help us manage our *total wealth/finances* on a larger scale as opposed to the majority of online finance spreadsheets which focus more on monthly budgeting. Do you have any recommendations for spreadsheets or software to help us keep track of the 'big picture' i.e. emergency fund, pensions, ISAs, investments. We WILL be seeking financial planning but are keen to keep track of this stuff ourselves. We would be happy to update spreadsheets quarterly, but not get bogged down in tracking specifics of bills etc! Best, Maddie   18:44  Question 4 Hello Pete and Roger, The older of my 2 sisters has been diagnosed with a terminal illness at the early age of 46 and because of the late stage diagnosis the timescales could be as short as 3-6 months without treatment. Myself and my other sister have been looking through her work pension/ finances to sort out her estate to get everything looked after for her only daughter, who is under the age of 18. She works for a government department and after reading the small print with her pension/ employment contract her estate would be about £130k worse off if she continued to be on sick leave but employed compared to taking medical early retirement. We have advised and started the process to get the lump sum and early retirement pension for my sister, as she is unlikely to benefit from the higher yearly pension payouts of around 23k vs 15k with £100k lump sum. My younger sister is applying for power of attorney as my older sister is too unwell to deal with all the admin and is becoming very forgetful with her condition and medication. My sister's entire estate will be around  £300k, we are concerned about my niece inheriting such a large lump sum at the age of 18. We are considering setting up a trust so that the money can be fully invested and paid out in smaller staggered lump sums to her on a 6 month or 12 month basis, just to get her used to dealing with larger sums of money and when she needs a Deposit for a house etc this will be available. Are there any reasons not to go down the Trust route and would this even be practical? Are there other options? We have been thrown into the deep end trying to make the best decision and could use your advice. I'm 38 and if I'd have inherited such a large lump sum at the age of 18, I probably would have blown it on expensive cars and motorcycles and have had some great fun in my 20's, but probably would have little left to show. Regards Mark   24:03  Question 5 Hi Pete and Rog Long time fan here! Love the accessibility of your information in the pod and the books! I've learnt a huge amount. But.... I still have a probably rather stupid question... I have a SIPP with funds in a Vanguard Global Index fund with Interactive Investor. It's taken a bit of a battering, but I'm hopeful it will grow in the next 10 years! My question is, how does it grow? I keep reading about interest and the magic of compounding, but it seems to me that there is no interest in an index fund? I dabble for a while with a dividend specific pie on Trading 212 and clearly saw dividends being paid to me on a regular basis, but this doesn't seem to happen with the Vanguard fund. What is it that's compounding? Please can you explain (as if I was a child!) how and why the fund grows and (hopefully) keeps gaining value over the long term? Many thanks! Alex  29:34  Question 6 Hello Pete and Roger, Great podcast! We are all very aware of costs eroding returns over time. On reading the Sunday Times review of investing platforms (8th June 2025 entitled, *'Switch investing platform and save £30k*'), this would seem to advocate changing platforms as funds increase to minimise costs. However, what this article doesn't go into is the flexibility on each platform to invest in individual shares / ETFs etc. Please could you and Roger give your insightful views about investment platform selection and particularly keeping with the most cost effective platforms as invested funds grow in value.  Thank you for helping so many of us! Ivana

This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comI've been writing so much about gold and silver lately, I need to cover something else.But my quick take: as seemed likely, gold and silver have gone into one of their corrective phases. This is likely to last several months, in the humble opinion of this writer. There'll be false dawns, which catch everyone out, and false deaths too, with the overall trend being sideways.In the event of a broader stock market correction - which is long overdue given the scale of this rally since the Tariff Tantrum™ in the spring - gold and, especially, silver will sell off along with everything else. That doesn't mean gold isn't a safe haven. It just means there is a lot of hot money in gold, which quickly gets liquidated in a sell-off.But, yes, this incredible rally we have seen in the S&P500 since the Tariff Tantrum™ is looking exhausted and seems to be rolling over.Bitcoin is taking a hit too - although not as big a hit as the broader crypto space - and bitcoin is what I want to look at today.Here is one crypto trader's desk, as pictured on Twitter during Tuesday's sell-off.That's what happens when you use too much leverage.What do they say about taking the emotion out of trading?Bitcoin - what gives?So many things have happened this year which have blown winds in bitcoin's favour* A newly elected US administration which very pro crypto* A deliberately weaker dollar and the debasement trade* The launch of the bitcoin ETFs in the US increasing access to much larger flows of capital* Strength in tech stocks generally* A risk-on appetite* The halving cycleAnd moreYet bitcoin feels like it hasn't quite delivered. A new high of ‘only' $125,000.The latest narrative doing the rounds is this idea that the launch of the bitcoin ETFs is like bitcoin's IPO. Just as when a big tech stock IPOs, a lot of early seed money takes the opportunity to exit, so are many early bitcoin investors - so-called OGs - now moving on. That would explain the many coins that have been moved from previously dormant wallets to exchanges over the last six months.Maybe.What can I say?You can either decide that bitcoin's time is done. It's game over. Move on.Or you can treat this like another of the numerous shake-outs that have taken bitcoin in the 16 years since its inception. The story was getting a bit tired. It needs a shake-out to ruffle a few feathers and purge.The moral of every previous correction can be summed up in 4 letters: HODL.It looks like we may have got a bit of a crypto winter to get through. If the winter reflects the previous summer, then this one shouldn't be too bad. But consolidation phases can be frustrating, so the secret is to be quite zen about the whole thing and keep your eye on the bigger picture.Bitcoin bear markets can be painful, but the beauty of them is that, unlike mining bear markets which can go on for a decade or more, they tend to be short lived.Treat bear markets as opportunities. They're a good time to build positions, build businesses and more. Go and watch some Michael Saylor videos and re-indoctrinate yourself.But on no account lose your position. Bull markets come along when you least expect them.Everything is looking a bit red at the moment - gold, silver, the S&P500, bitcoin. It might be the end of this cycle. but it's not the end of the world.I don't know when or where this bitcoin correction ends. My guess is around $90,000 but that's nothing more than a guess. Perhaps we revisit $75,000 - which is the level we hit during the Tariff Tantrum™ earlier this year.But it's just as possible that dip below $100k on Tuesday was a fake-out, and the bear market is already done.I thought this graphic was interesting.There is plenty more room for future buying as governments and corporations try to increase their positions.By the way I get that some readers like bitcoin and others don't. That's fine. Each to their own. However, if you are in the latter camp, you do not need to email me and tell me bitcoin is not real money/quantum computing is going to destroy it/it is an invention of the deep state/ it is a scam. Please also feel no need to regurgitate Peter Schiff tweets either. You do know he is paid to slag bitcoin off?Turning now to the clusterfook that is the UKBuying bitcoin ETFs in the UK - t he hows, whats and whysIt's semantics, but you can't actually buy ETFs in the UK you have to buy ETNs. I'm not even going to bother trying to explain it. It's regulatory bollocks and not worth wasting time or brain power over.October 8th, the date when the FCA decided UK citizens are allowed to buy bitcoin ETNs is now behind us, but the farce is not.I first found out about bitcoin in December 2010 when it was 22c. I was sent my first coins soon after. I wrote the first book on bitcoin from a recognised publisher in 2014. Yet this morning I just attempted to complete the FCA's form to get me approved to buy a bitcoin ETN - so that I understand the risks - and I failed it. The “correct” answer to their questions is actually the wrong answer. Absolute farce of an organisation and accountable to no one, so it will continue.In the US, meanwhile, JP Morgan is in the process of enabling bitcoin to be used as mortgage collateral.It's like being in Spain in 1492, the ship is setting sail to the New World and somebody from the FCA is standing on the gangplank with a clipboard stopping UK citizens from getting onboard.Amongst the plethora of moronic barriers which the FCA has laid down is that bitcoin carries the same risk as any other cryptocurrency - including the latest meme, scam or shitcoin. Bitcoin is not fartcoin, and categorising the two together reveals the scary depths of FCA ignorance.Meanwhile, from next year you won't be able to buy bitcoin ETNs in your ISA, you will have to get a special ISA. They are trying to kill us with bureaucracy, I'm convinced of it.Which broker and which ETN?In terms of enabling their customers to invest, the UK brokers have ranged from excellent - Interactive Investor, which went live on day 1, as boss Richard Wilson proudly tells me - to totally useless - Hargreaves Lansdown and AJ Bellend.Hargreaves Lansdown, apparently trying to give the FCA a run for its brainless money, even put out the following statement.“Bitcoin is not an asset class, and we do not think cryptocurrency has characteristics that mean it should be included in portfolios for growth or income and shouldn't be relied upon to help clients meet their financial goals … Unlike other alternative asset classes, it has no intrinsic value.”Talk about retarded.If you want to be able to invest in these things via your SIPP or ISA, move your account to Interactive Investor is my advice. Use this affiliate link and you get a year for free.I should stress buying bitcoin via a broker negates many of bitcoin's uses. Yes, you get the store-of-value benefits, but you can't send and receive it; you can't use it to make payments or donations; you don't have sovereignty - the fund manager does - and so there is considerable counter-party risk - the coins could be confiscated, the fund could go bust etc. You don't have anonymity either.Still it's better than no exposure at all.But which ETN should you go for? And what about the treasury companies? And, what indeed about Semler Scientific (SMLR)?

This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comI've been writing so much about gold and silver lately, I need to cover something else.But my quick take: as seemed likely, gold and silver have gone into one of their corrective phases. This is likely to last several months, in the humble opinion of this writer. There'll be false dawns, which catch everyone out, and false deaths too, with the overall trend being sideways.In the event of a broader stock market correction - which is long overdue given the scale of this rally since the Tariff Tantrum™ in the spring - gold and, especially, silver will sell off along with everything else. That doesn't mean gold isn't a safe haven. It just means there is a lot of hot money in gold, which quickly gets liquidated in a sell-off.But, yes, this incredible rally we have seen in the S&P500 since the Tariff Tantrum™ is looking exhausted and seems to be rolling over.Bitcoin is taking a hit too - although not as big a hit as the broader crypto space - and bitcoin is what I want to look at today.Here is one crypto trader's desk, as pictured on Twitter during Tuesday's sell-off.That's what happens when you use too much leverage.What do they say about taking the emotion out of trading?Bitcoin - what gives?So many things have happened this year which have blown winds in bitcoin's favour* A newly elected US administration which very pro crypto* A deliberately weaker dollar and the debasement trade* The launch of the bitcoin ETFs in the US increasing access to much larger flows of capital* Strength in tech stocks generally* A risk-on appetite* The halving cycleAnd moreYet bitcoin feels like it hasn't quite delivered. A new high of ‘only' $125,000.The latest narrative doing the rounds is this idea that the launch of the bitcoin ETFs is like bitcoin's IPO. Just as when a big tech stock IPOs, a lot of early seed money takes the opportunity to exit, so are many early bitcoin investors - so-called OGs - now moving on. That would explain the many coins that have been moved from previously dormant wallets to exchanges over the last six months.Maybe.What can I say?You can either decide that bitcoin's time is done. It's game over. Move on.Or you can treat this like another of the numerous shake-outs that have taken bitcoin in the 16 years since its inception. The story was getting a bit tired. It needs a shake-out to ruffle a few feathers and purge.The moral of every previous correction can be summed up in 4 letters: HODL.It looks like we may have got a bit of a crypto winter to get through. If the winter reflects the previous summer, then this one shouldn't be too bad. But consolidation phases can be frustrating, so the secret is to be quite zen about the whole thing and keep your eye on the bigger picture.Bitcoin bear markets can be painful, but the beauty of them is that, unlike mining bear markets which can go on for a decade or more, they tend to be short lived.Treat bear markets as opportunities. They're a good time to build positions, build businesses and more. Go and watch some Michael Saylor videos and re-indoctrinate yourself.But on no account lose your position. Bull markets come along when you least expect them.Everything is looking a bit red at the moment - gold, silver, the S&P500, bitcoin. It might be the end of this cycle. but it's not the end of the world.I don't know when or where this bitcoin correction ends. My guess is around $90,000 but that's nothing more than a guess. Perhaps we revisit $75,000 - which is the level we hit during the Tariff Tantrum™ earlier this year.But it's just as possible that dip below $100k on Tuesday was a fake-out, and the bear market is already done.I thought this graphic was interesting.There is plenty more room for future buying as governments and corporations try to increase their positions.By the way I get that some readers like bitcoin and others don't. That's fine. Each to their own. However, if you are in the latter camp, you do not need to email me and tell me bitcoin is not real money/quantum computing is going to destroy it/it is an invention of the deep state/ it is a scam. Please also feel no need to regurgitate Peter Schiff tweets either. You do know he is paid to slag bitcoin off?Turning now to the clusterfook that is the UKBuying bitcoin ETFs in the UK - t he hows, whats and whysIt's semantics, but you can't actually buy ETFs in the UK you have to buy ETNs. I'm not even going to bother trying to explain it. It's regulatory bollocks and not worth wasting time or brain power over.October 8th, the date when the FCA decided UK citizens are allowed to buy bitcoin ETNs is now behind us, but the farce is not.I first found out about bitcoin in December 2010 when it was 22c. I was sent my first coins soon after. I wrote the first book on bitcoin from a recognised publisher in 2014. Yet this morning I just attempted to complete the FCA's form to get me approved to buy a bitcoin ETN - so that I understand the risks - and I failed it. The “correct” answer to their questions is actually the wrong answer. Absolute farce of an organisation and accountable to no one, so it will continue.In the US, meanwhile, JP Morgan is in the process of enabling bitcoin to be used as mortgage collateral.It's like being in Spain in 1492, the ship is setting sail to the New World and somebody from the FCA is standing on the gangplank with a clipboard stopping UK citizens from getting onboard.Amongst the plethora of moronic barriers which the FCA has laid down is that bitcoin carries the same risk as any other cryptocurrency - including the latest meme, scam or shitcoin. Bitcoin is not fartcoin, and categorising the two together reveals the scary depths of FCA ignorance.Meanwhile, from next year you won't be able to buy bitcoin ETNs in your ISA, you will have to get a special ISA. They are trying to kill us with bureaucracy, I'm convinced of it.Which broker and which ETN?In terms of enabling their customers to invest, the UK brokers have ranged from excellent - Interactive Investor, which went live on day 1, as boss Richard Wilson proudly tells me - to totally useless - Hargreaves Lansdown and AJ Bellend.Hargreaves Lansdown, apparently trying to give the FCA a run for its brainless money, even put out the following statement.“Bitcoin is not an asset class, and we do not think cryptocurrency has characteristics that mean it should be included in portfolios for growth or income and shouldn't be relied upon to help clients meet their financial goals … Unlike other alternative asset classes, it has no intrinsic value.”Talk about retarded.If you want to be able to invest in these things via your SIPP or ISA, move your account to Interactive Investor is my advice. Use this affiliate link and you get a year for free.I should stress buying bitcoin via a broker negates many of bitcoin's uses. Yes, you get the store-of-value benefits, but you can't send and receive it; you can't use it to make payments or donations; you don't have sovereignty - the fund manager does - and so there is considerable counter-party risk - the coins could be confiscated, the fund could go bust etc. You don't have anonymity either.Still it's better than no exposure at all.But which ETN should you go for? And what about the treasury companies? And, what indeed about Semler Scientific (SMLR)?

Some great questions this week about planning for the loss of the personal allowance, investing in GIAs, persuading an aunt to write a will, and much more besides! Shownotes: https://meaningfulmoney.tv/QA26  01:11  Question 1 Dear Roger and Pete, I enjoy listening to your show driving to work. You are both down to earth and humble with your opinions. I read a lot on finance and have been investing in stocks and share ISA since 2004 and VCTs since 2017. I have built a healthy portfolio of nearly 300k in VCT, 400k in Stocks and share ISA. I also have a healthy DC pension of roughly 700k and DB pension worth around 10k per year from age 60. I am approaching 50th birthday this year and so decided to use up some of my cash savings which is in excess of my target investment of 20k in ISA and 50 k in VCT(as unable to go over 10k in pension (due to annual allowance threshold). I know I am fortunate and I also live frugally as that's my nature and don't have too many wants. The question is if I have roughly 80k in mortgage and I have the ability to clear it, should I invest that 80k in VCT on top of my regular VCT allocation of 50k and get the 30% tax benefit(as I am unable to get much tax benefit from my pension) or clear my mortgage as the mortgage is coming up for renewal and likely interest rate will be 4-4.5%. I am torn as I understand in my head that 80 k invested is better than clearing the mortgage over a 20-30 year time frame, but as I am going to be 50 and would like to clear the mortgage and have freedom to decide if I want to enter a life of FIRE or have the ability to FIRE if I get bored. However, I have kids in school and so unlikely I will FIRE until they go to university. Sorry about the long question. Thank you, Fred. 06:25  Question 2 Hello Pete / Roger, Great podcast! I hope karma holds true and all the good you give out back comes back to you both! Question: I am a higher rate taxpayer who maximises their pension, stocks & shares ISA and other best tax sheltered places so need to also build wealth in a taxable GIA. What is best strategy for a higher rate tax payer to do this... dividend / income generating stocks or accumulating (non dividend paying) investments and pay CGT at some stage (regularly)? Thanks, appreciated as ever and hope may help others Ivana  10:43  Question 3 Hi, Nick (who I assume will read this first), Pete and Roger, I'm not sure if this is a suitable question for the podcast but here goes. How can we persuade an aged aunt that she needs to write a will, as us knowing what her wishes are is not sufficient. I have an aunt who has no children but she has said she wants her estate split equally between her 8 nieces and nephews but she refuses to make a will. The problem is that if she dies intestate there is an estranged brother who would be a beneficiary as far as we understand  and so what she wants to happen won't happen. Richard J 15:50  Question 4 Hi Pete and Rog My husband and I have been MM diehards for many years. We think It's a sad reflection of the state of nation when David Beckham gets considered for a gong before Pete does! I wanted to ask you about UK T-Bills because they are rarely (if ever) mentioned in your discussion of financial instruments. We are at retirement age I have a few DB pensions and a SIPP with Interactive Investor of approx. £300k. About ½ is sitting in Cash (including short term money market funds) because we want to draw out our 25% tax free allowance within the next 2 years and we want to minimise risk until that time arrives. I still want to diversify my low risk investments  as much as possible into bonds but my experience of bond funds is that they can also drop significantly with economic conditions whereas we want something to deliver us a (near as possible) guaranteed return. Our platform (ii) allows us to purchase bonds on the primary market however they are too long-term for us to see them through to maturity given our timescales. The platform has started to release UK T-Bills which seem typically much shorter term (3 or 6 months) and therefore appear to give us what we are looking for (guaranteed rate at a decent %) and very low risk. I know the % return is determined by the ‘auction' but it currently looks to be around 4.5% on average (especially the 3-month ones). We plan to apply the bond ladder concept and buy these T-bills over the next few years on a rolling basis. As they are very short term, if rates drop we can change our strategy mid-plan so I think it also gives us a degree of flexibility too. Have we overlooked something obvious as it seems to fit our needs perfectly for the next couple of years? We are very hands-on on the platform so we don't mind getting stuck into the action process (which looks straightforward). I'd be interested if you had any additional insight / comment on T-Bills being used for this or other strategies. Regards, Gilly 22:55  Question 5 Hi Pete, Roger, Thank you for the podcast, I always look fw to listening to it on my Wednesday commute. I'm trying to figure out when it makes sense to accept paying more income tax versus increasing my pension contributions? My total compensation this tax year is estimated to be £125k meaning I will lose all of my personal allowance with an effective 60% marginal tax rate on the last £25k of my earnings. Part of my compensation is made up of RSUs and very predictable quarterly bonuses. My base salary is approx £85,000.Last year, my total compensation was £105k, with a smaller base salary. My pension contributions kept my taxable income below £100k. I do not have any children, so the loss of funded childcare is not a concern. I've been contributing 15% for the last 5 or 6 years, starting when I was earning about half what I earn now. I chose that percentage to bring earnings under the 40% threshold at one point. At the start of this tax year, I increased my pension contributions to 20% because my income increased and I had no immediate need for the extra money. My employer only matches up to 5%. I am in my mid 30s and have roughly £140,000 split between my SIPP and my current workplace pension. Both invested in 100% equities in a global fund. I am considering increasing my salary sacrifice from 20% to around 30%, to keep my taxable income below 100k to avoid the loss of personal allowance. I'm hesitant because, playing around with the compound interest calculator, starting with a £140,000 balance, contributing £1,700 per month (20% salary sacrifice), and assuming a 7.5% return (which may be slightly optimistic), I would end up with a pension pot of about £1.5 million at age 55. Which might be too much. I have £80k in my stocks and shares isa, also in global equities and I'm on track contribute 20k this tax year.  I own a flat with a mortgage, fixed at less than 2% for a couple more years with no interest in over paying. I'm worried I might end up with too much money left when I (eventually!) die, I have no kids and I am not interested in leaving a legacy. Shall I just accept the tax bill and increase my lifestyle today given I'm already saving enough that I know I will be comfortable later in life. I read die with zero a year or so ago, and it resonated with me a lot. What else is there to consider? Thank you, Mark. 29:15  Question 6 Dear Pete & Roger, I have one question on my financial planning. This year I had received extra bonus which lead to my salary at the end of tax year of £123k. I have contributed £17k to my pension using employer contributions but remaining £6k is through my company stock which was vested and I got £3.1k income after paying 47% tax. My question is as my salary threshold for this tax year crossed £100k, for this additional £6k do I need to submit self assessment and if yes, do I need to declare this £6k full stock amount completely as a separate income even though I already paid tax on it, does this mean I am also liable to pay capital gains tax on this £3.1k? I look forward to hearing from you what are my options to submit to HMRC through my self assessment so I can calculate if I owe any additional tax or HMRC will refund me some money due to £17k pension contributions? Many thanks, Vai  

On the final panel at this year's Fringe Festival in Edinburgh, host Merryn Somerset Webb speaks with Richard Wilson, chief executive of one of the UK’s largest investment platforms, Interactive Investor, Anna MacDonald, investment manager at Aubrey Capital, and journalist and author Alex Massie. The episode is taped in front of an audience at Adam Smith’s final remaining home, Panmure House.See omnystudio.com/listener for privacy information.

Are you making the most of your pension? Most people aren't — and it could be costing them thousands. Journalist Alice Guy is former Head of Pensions at Interactive Investor and a qualified chartered accountant. She breaks down how to get the most from your DC pension: from salary sacrifice and tax relief, to checking out how you're invested and boosting your long-term pot.  Here's our pension provider cheat sheet: https://makingmoney.email/pension-cheat-sheet  If you have a DB pension listen to our episode with expert Peter Lawlor: https://makingmoney.email/DB-pensions 

Victoria Scholar from Interactive Investor joined Joe Lynam to discuss the latest on the markets.

In this bonus episode of the Money to the Masses podcast, Damien is joined by Kyle Caldwell, Funds & Investment Education editor at Interactive Investor. During their chat, they discussed the intricacies of building investment portfolios, focusing on key aspects such as diversification, asset allocation and the importance of understanding fund performance. This should not be considered financial advice or a personal recommendationKey insights from the episode include:

Richard Wilson, CEO of Interactive Investor discusses the market volatility around the US Election, his reaction to the UK budget, and the future of Britain's stock market with Caroline Hepker and Tom Mackenzie. Interactive Investor, which is a subsidiary of abrdn, is the UK's biggest flat-fee investment platform, with roughly £59 billion assets under management and over 400,000 customers. See omnystudio.com/listener for privacy information.

Today's guest is Aly Skidmore, ServiceNow Platform Owner at abrdn. Founded in 1825, abrdn is a global investment company that helps clients and customers plan, save and invest for the future. They are structured around three businesses - Investments, Adviser and Interactive Investor - each focused on the changing needs of their clients.  The company's focus on four key strategic priorities - Asia, Sustainability, Alternatives, UK savings and wealth - enables them to meet the needs of clients across a range of markets. Aly is an energetic and creative ITIL 4 certified managing practitioner with extensive and varied experience in the implementation, running and ongoing transformation of IT services, enterprise service management toolsets and platforms. As a Platform owner and product lead, she is responsible for all aspects of the platform lifecycle for ITSM, SPM, SAM, ITOM and Event Management.She is currently leading the delivery of a two year strategic roadmap of platform growth and maturity across ITOM, AIOps, Service Management modernization and more. In the episode, Aly discusses: Her 20+ year journey in IT, service management and ServiceNow, An overview of abrdn's ServiceNow platform from major growth and upgrades, How Platform Owners adapt ServiceNow to diverse, evolving needs, Why networking with platform owners provides crucial support and empathy, Important to prioritize people, support your team and foster growth, The need to focus on outcomes, build trust and respect stakeholders, Why ServiceNow's capabilities require bridging gaps with stakeholders' perceptions, How ServiceNow user groups offer supportive, vibrant networking opportunities, The diverse and supportive ServiceNow ecosystem with strong inclusivity, How the industry has made progress, but the fight for full equality continues

To quote Ray Dalio, “Principles connect your values to your actions.” With that in mind, welcome to this insightful Investing Matters interview with Richard Stone, hugely talented former Chartered Accountant, Equity Analyst, Financial Controller, Finance Director, CEO, leader and now Chief Executive of the Association of Investment Companies, which he joined in September 2021. Prior to that, Richard was Chief Executive of Share plc (The Share Centre platform) from 2014 to 2020 and was Finance Director from 2006 to 2013. At Share plc he positioned the company to deliver exceptional customer service, including digital transformation, for both direct retail clients and other partner investment firms. Floating the business on London' Alternative Investment Market (AIM) in May 2008. Richard led Share Plc for seven years as Group CEO prior to the business being purchased by Interactive Investor in 2020. Many of you will be aware that as a subsidiary of Interactive Investor, that Share plc was purchased in May 2022 by the behemoth investment company Abrdn Plc. Having had an interest in stocks and shares since his teens. Richard's passion for numbers led to him pursuing and attaining a Philosophy, Politics and Economics Degree at York University. Following this he gained his “first proper job” with Ernst & Young (EY) as a Trainee Accountant. Richard excelled at EY and went on to win the coveted KPMG Peat Prize (The Peat Gold Medal & Prize) for the highest mark in his final Chartered Accountancy exams. Richard is qualified ICAEW Chartered Accountant. After some year auditing for EY, Richard got the opportunity in 1999 to move to London to work as a software and information technology equity analyst for the US-based Investment Bank, Robertson Stephens. Where he worked on numerous IPOs in London. He then moved to ECsoft Group Plc the Information Technology Consulting Service co, a dual listed Nasdaq firm as their Financial Controller. Following which he moved to Huntsworth Plc, becoming their first Financial Director, where as part of the team backed by 3i, worked diligently and rapidly over three years grew the company from 100 members of staff to 600. He then joined Gavin Oldham at the Share Centre (Share Plc). Richard has seen and worked across the US & UK Capital Markets from almost every angle during the past two decades, which makes for fantastic and insightful Investing Matters which will be informative for all. In this Investing Matters interview, Richard gives a brief overview of his roles and responsibilities at the Association of Investment Companies, AIC's fantastic team, Investment companies' growth, capital raising, dividends, reasons to be optimistic and much more. Topics and discussions also include: -Equity participation -Investment companies / Investment Trusts “Never get into stockbroking” -Studying economics / Big privatisations -Investment companies discounts to Net Asset Value, tightening cycle -Private Equity -Renewables / Infrastructure - Reasons to optimistic -The UK market “is pregnant with value” -Mergers, wind-ups, buybacks -The British ISA -Shareholder engagement -Investment companies cost disclosures -Stamp Duty -AIC's education & building awareness strategy -Structural benefits of investing in investment trusts -Dividend Heroes -A long-term savings plan -Long-term investment outperformance -Investing & much more We hope you enjoy this podcast, and we look forward to hearing your feedback. Please subscribe to this podcast on your platform of choice and follow the @InvMattPodcast on Twitter.

As the latest GDP figures show the UK economy's emerged from its shallow recession, Ian King hosts a special edition of his business show.To analyse what the numbers mean, he's joined by Shevaun Haviland, director general of the British Chambers of Commerce, Vivek Paul from BlackRock Investment Institute and Interactive Investor's Victoria ScholarPlus Lucian Cook from estate agents Savills is here to discuss the impact of the economy and interest rates on the property market.

You can download your FREE report on how you can avoid financial mistakes as a dentist using the link just here >>>  dentistswhoinvest.com/podcastreport———————————————————————Embark on a journey to fiscal wisdom with us and our esteemed guest, Luke Hurley, as we unwrap the secrets of Individual Savings Accounts (ISAs) for dentists aiming to fine-tune their investment strategy. This episode is a treasure trove of insights, whether you're taking the first step in your investment voyage or seeking to navigate the seas with greater precision. We tackle the nuances of choosing the right ISA provider and the types of accounts available, such as cash ISAs and stocks and shares ISAs, to ensure your portfolio thrives in a tax-efficient environment.Discover the art of transferring ISAs without capsizing your contribution limits and weigh the merits of various platforms, including Vanguard's beginner-friendly interface, Interactive Investor's fixed fee allure for the seasoned investor, and Hargreaves Lansdown's harmony of user convenience and customer service. We also address the misconceptions surrounding passive and active funds, a debate that's as enduring as the quest for the Holy Grail in the investment kingdom. With Luke's expertise, we decode the fee structures that could significantly impact your portfolio's growth over time and provide a compass for steering through the choices that best fit your financial goals.As we set sail toward the horizon, our conversation casts a light on the often-overlooked importance of keeping your investments active to combat the erosion of fees and inflation. Looking into the future, we tease the potential exploration of pensions and the profound impact of fees over the long term. With gratitude for Luke's shared expertise, we close this episode, leaving you enriched and equipped to take command of your investment journey through the world of ISAs. Don't let this episode be the path not taken; let it be your map to a more secure financial future.

As promised, here is my updated guide to buying and investing in gold. I really think it is important that you own some, given what governments are doing to currency. I have also made this available as a PDF, which you can download here:(If that PDF doesn't work, try this link)Also, there are still a couple of tickets for my musical comedy show this Friday April 5 in Guildford. And on Tuesday April 9, I'm talking money, tax, gold - all that stuff - at the IEA with Tom Clougherty. Entry is free. If you fancy it, here is the link).We are living in a world of uncertainty. There is inflation, war, political discontent, financial instability and, perhaps most concerning of all, state incompetence everywhere you look. The case for owning gold, for having wealth stored outside the system, where it is nobody else's liability, is as strong as it has ever been.There is old Wall Street adage: “Put 10% of your net worth in gold, and hope it doesn't go up.” If gold is going up, it usually means there are problems elsewhere.The adage applies now, as much as it did when it was first coined many decades ago.How to invest in gold.There are five ways:* You can go old school and buy bullion - coins or bars.* You can buy gold stored in vaults in places like London, Jersey, Zurich or Singapore. This gold is allocated to you.* You can buy ETFs via your stock broker. These are funds that store gold. The price of the fund tracks the gold price, and you own shares in the fund. (See footnote 1, if you need to understand what an ETF is).* You can buy gold companies - refiners, royalty companies, miners and so on.* You can buy futures, options, CFDs or spreadbets.I'm not talking today about buying mining companies (if you are interested in mining companies, consider a paid subscription, as gold mining companies are one of my areas of expertise). Nor am I talking about futures, options, CFDs or spread betting the gold price. Neither is safeguarding your wealth. They are speculation. In the right market they can make you a lot of money. In the wrong market, they can also lose you a lot.Upgrade your subscription here.Today we are talking about old school, physical goldI'll put to one side arguments about whether gold is a good investment or not (I think it is), and whether I think it is going up or down. I'll simply explain what is the easiest, cheapest and, perhaps above all, safest way to buy gold.A note on ETFsETFs are a simple way to get exposure to the gold price. It's not really the same as owning actual metal, so the purists tend to veer away from ETFs, though institutions like them, as do traders. ETFs are easy to buy and sell. You buy an ETF just as you would buy any stock or share through your broker. London-listed gold ETFs include RMAU.L and PHAU.L. The world's biggest is the NYSE-listed GLD. Costs - for example storage - are baked into the price.To buy an ETF, you need an account with a broker, such as Hargreaves Lansdown or Interactive Investor. You deposit money and buy through them.I steer away from ETFs mainly because they are too easy to get shaken out of. When you buy physical gold, to sell can be a bit of an undertaking, so it's less likely to be done on a whim. Owning physical turns you into a long-term investor. It may be that you never sell at all and end up passing the gold on to your heirs.So where do you buy gold from?I've used many bullion dealers over the years. The dealer I like most, and with whom I have an affiliation deal, is the Pure Gold Company. Premiums are low. Quality of service is high. You get to deal with a human being. You can take delivery of your gold or store it online with them in their vaults. They deliver to the UK, US, Canada and Europe. (If you speak to them, tell them I sent you).In theory, there is not a great deal of difference between an ETF and storing your gold online with a bullion dealer. Both are extremely convenient, whether for buying or selling. Both give you exposure to the gold price. But I favour the storing-it-with-a-bullion-dealer route, as, somehow, you are less likely to sell. ETFs make it too easy to sell and so weaken your hands.Where are you going to put your gold?Once you've decided where to buy your gold, the next question is: where to put it? Different people with different circumstances have different solutions.Some people have a safe at home and keep their gold there. Some keep their gold in safety deposit boxes. Others never take delivery at all, and keep it safely stored in a vault with the dealer in sensible places like Zurich, Jersey, London or Singapore.I'm not convinced homes in our “vibrant” British cities are safe, so these are not options I would take, but ... I know one guy that has all his gold stored in a sock in his loft. I know another that has buried it in his garden, and only his close family know the location - he has quite a bit of land. I know another that keeps his gold and silver in plain sight - he uses the bars as doorstops. Nuts you may say, but how about this? He got burgled and the burglars didn't take the bars. They obviously thought they were just doorstops.If - and only if - you have somewhere safe to store it, I'm a great advocate of taking delivery. You get to handle your metal. There are lots of fantastic different coins from around the world to buy - Chinese Pandas, South African Krugerrands, American Eagles, Austrian Philharmonics, Canadian Maples, Australian Kangaroos. The bars are nice too. It's good to handle gold. But I refer you to my above comment about cities today. I've also heard about homes being burgled by people with metal detectors - but I gather this is mostly an Asian-on-Asian crime. For now.What about tax?Competition amongst ETFs and bullion dealers has conspired to drive down prices, much to the benefit of the consumer. But there is one enormous cost that neither of these methods are able to avoid - tax.When you sell, you are incurring a Capital Gains Tax (CGT) event - 20% in the UK for higher rate tax-payers and 10% for lower. That's an unavoidable 10 or 20% erosion of any profit.But there's another method of buying gold (and silver), which, quite legally, avoids this cost altogether. There is a slightly higher premium to spot when you buy, but we are talking about a tiny amount, nothing like 20% CGT. Given the potential savings involved, it's surprising that more UK investors don't buy their gold and silver in this way. The method I'm describing, if you haven't already figured it out, is to buy sovereigns and Britannias.The gold sovereign used to be the pound coin. Imagine that - a pound coin made of solid gold. It was the pound coin from 1816, after the Great Recoinage, until 1932, when the UK finally abandoned its gold standard. Until then, the pound really was “as good as gold”. 22 carat gold to be precise – that's about 92% purity. A sovereign weighs about 7gs, which is around a quarter of an ounce, the same weight as a 2p piece.Such is the devaluation of currency that has taken place over successive generations in the UK, it now takes well over 400 pound coins to buy one of these old pound coins.Despite no longer being on the gold standard, the Royal Mint began producing sovereigns again in 1957 and continues to the present day. A large number of them are actually minted in that well known British heartland, Delhi. (That's because there is a huge market for them in India).Technically these coins are legal tender, so they are exempt from CGT.As sovereigns are so common, the numismatic value is very low. You can pick up 100-plus-year-old Victorian coins at a few percent over spot. You get the history for free. And you can buy them from most dealers, including, of course, the Pure Gold Company. The main exception is the 1937 sovereign struck for Edward VIII. As he abdicated, the coins were never circulated. One sold in 2014 for over half a million quid. That's some premium.Gold Britannias – which are an ounce in weight – only began to be issued in 1987. But they too are considered coins of the realm. Despite the fact that an ounce of gold is £1,800, the face value of a Britannia is £100. Don't ask me how that works. I'm sure there's a reason. But, as coins of the realm, they too are exempt from CGT.The Royal Mint began producing silver Britannias in 1997. They also weigh an ounce. They have a face value of £2 (an ounce of silver is about £16) and are also exempt from CGT.Sovereigns are not the most beautiful coins in the world - Britannias are nicer - but both make for a considerable saving on CGT (assuming you have made a gain when you come to sell - of course, there is no guarantee of that).Thank you very much for reading this report. Good luck with your investments. Remember the adage: “Put 10% of your net worth in gold, and hope it doesn't go up.” If gold is going up, it usually means there are problems elsewhere.Once again my recommended bullion dealer is the Pure Gold Company. Premiums are low, quality of service is high. You can deal with a human being. You can take delivery of your gold or store it online with them in their vaults. They deliver to the UK, US, Canada and Europe, or you can store your gold with them in their vaults.Until next time,Dominic This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.theflyingfrisby.com/subscribe

As promised, here is my updated guide to buying and investing in gold. I really think it is important that you own some, given what governments are doing to currency. I have also made this available as a PDF, which you can download here:(If that PDF doesn't work, try this link)Also, there are still a couple of tickets for my musical comedy show this Friday April 5 in Guildford. And on Tuesday April 9, I'm talking money, tax, gold - all that stuff - at the IEA with Tom Clougherty. Entry is free. If you fancy it, here is the link).We are living in a world of uncertainty. There is inflation, war, political discontent, financial instability and, perhaps most concerning of all, state incompetence everywhere you look. The case for owning gold, for having wealth stored outside the system, where it is nobody else's liability, is as strong as it has ever been.There is old Wall Street adage: “Put 10% of your net worth in gold, and hope it doesn't go up.” If gold is going up, it usually means there are problems elsewhere.The adage applies now, as much as it did when it was first coined many decades ago.How to invest in gold.There are five ways:* You can go old school and buy bullion - coins or bars.* You can buy gold stored in vaults in places like London, Jersey, Zurich or Singapore. This gold is allocated to you.* You can buy ETFs via your stock broker. These are funds that store gold. The price of the fund tracks the gold price, and you own shares in the fund. (See footnote 1, if you need to understand what an ETF is).* You can buy gold companies - refiners, royalty companies, miners and so on.* You can buy futures, options, CFDs or spreadbets.I'm not talking today about buying mining companies (if you are interested in mining companies, consider a paid subscription, as gold mining companies are one of my areas of expertise). Nor am I talking about futures, options, CFDs or spread betting the gold price. Neither is safeguarding your wealth. They are speculation. In the right market they can make you a lot of money. In the wrong market, they can also lose you a lot.Upgrade your subscription here.Today we are talking about old school, physical goldI'll put to one side arguments about whether gold is a good investment or not (I think it is), and whether I think it is going up or down. I'll simply explain what is the easiest, cheapest and, perhaps above all, safest way to buy gold.A note on ETFsETFs are a simple way to get exposure to the gold price. It's not really the same as owning actual metal, so the purists tend to veer away from ETFs, though institutions like them, as do traders. ETFs are easy to buy and sell. You buy an ETF just as you would buy any stock or share through your broker. London-listed gold ETFs include RMAU.L and PHAU.L. The world's biggest is the NYSE-listed GLD. Costs - for example storage - are baked into the price.To buy an ETF, you need an account with a broker, such as Hargreaves Lansdown or Interactive Investor. You deposit money and buy through them.I steer away from ETFs mainly because they are too easy to get shaken out of. When you buy physical gold, to sell can be a bit of an undertaking, so it's less likely to be done on a whim. Owning physical turns you into a long-term investor. It may be that you never sell at all and end up passing the gold on to your heirs.So where do you buy gold from?I've used many bullion dealers over the years. The dealer I like most, and with whom I have an affiliation deal, is the Pure Gold Company. Premiums are low. Quality of service is high. You get to deal with a human being. You can take delivery of your gold or store it online with them in their vaults. They deliver to the UK, US, Canada and Europe. (If you speak to them, tell them I sent you).In theory, there is not a great deal of difference between an ETF and storing your gold online with a bullion dealer. Both are extremely convenient, whether for buying or selling. Both give you exposure to the gold price. But I favour the storing-it-with-a-bullion-dealer route, as, somehow, you are less likely to sell. ETFs make it too easy to sell and so weaken your hands.Where are you going to put your gold?Once you've decided where to buy your gold, the next question is: where to put it? Different people with different circumstances have different solutions.Some people have a safe at home and keep their gold there. Some keep their gold in safety deposit boxes. Others never take delivery at all, and keep it safely stored in a vault with the dealer in sensible places like Zurich, Jersey, London or Singapore.I'm not convinced homes in our “vibrant” British cities are safe, so these are not options I would take, but ... I know one guy that has all his gold stored in a sock in his loft. I know another that has buried it in his garden, and only his close family know the location - he has quite a bit of land. I know another that keeps his gold and silver in plain sight - he uses the bars as doorstops. Nuts you may say, but how about this? He got burgled and the burglars didn't take the bars. They obviously thought they were just doorstops.If - and only if - you have somewhere safe to store it, I'm a great advocate of taking delivery. You get to handle your metal. There are lots of fantastic different coins from around the world to buy - Chinese Pandas, South African Krugerrands, American Eagles, Austrian Philharmonics, Canadian Maples, Australian Kangaroos. The bars are nice too. It's good to handle gold. But I refer you to my above comment about cities today. I've also heard about homes being burgled by people with metal detectors - but I gather this is mostly an Asian-on-Asian crime. For now.What about tax?Competition amongst ETFs and bullion dealers has conspired to drive down prices, much to the benefit of the consumer. But there is one enormous cost that neither of these methods are able to avoid - tax.When you sell, you are incurring a Capital Gains Tax (CGT) event - 20% in the UK for higher rate tax-payers and 10% for lower. That's an unavoidable 10 or 20% erosion of any profit.But there's another method of buying gold (and silver), which, quite legally, avoids this cost altogether. There is a slightly higher premium to spot when you buy, but we are talking about a tiny amount, nothing like 20% CGT. Given the potential savings involved, it's surprising that more UK investors don't buy their gold and silver in this way. The method I'm describing, if you haven't already figured it out, is to buy sovereigns and Britannias.The gold sovereign used to be the pound coin. Imagine that - a pound coin made of solid gold. It was the pound coin from 1816, after the Great Recoinage, until 1932, when the UK finally abandoned its gold standard. Until then, the pound really was “as good as gold”. 22 carat gold to be precise – that's about 92% purity. A sovereign weighs about 7gs, which is around a quarter of an ounce, the same weight as a 2p piece.Such is the devaluation of currency that has taken place over successive generations in the UK, it now takes well over 400 pound coins to buy one of these old pound coins.Despite no longer being on the gold standard, the Royal Mint began producing sovereigns again in 1957 and continues to the present day. A large number of them are actually minted in that well known British heartland, Delhi. (That's because there is a huge market for them in India).Technically these coins are legal tender, so they are exempt from CGT.As sovereigns are so common, the numismatic value is very low. You can pick up 100-plus-year-old Victorian coins at a few percent over spot. You get the history for free. And you can buy them from most dealers, including, of course, the Pure Gold Company. The main exception is the 1937 sovereign struck for Edward VIII. As he abdicated, the coins were never circulated. One sold in 2014 for over half a million quid. That's some premium.Gold Britannias – which are an ounce in weight – only began to be issued in 1987. But they too are considered coins of the realm. Despite the fact that an ounce of gold is £1,800, the face value of a Britannia is £100. Don't ask me how that works. I'm sure there's a reason. But, as coins of the realm, they too are exempt from CGT.The Royal Mint began producing silver Britannias in 1997. They also weigh an ounce. They have a face value of £2 (an ounce of silver is about £16) and are also exempt from CGT.Sovereigns are not the most beautiful coins in the world - Britannias are nicer - but both make for a considerable saving on CGT (assuming you have made a gain when you come to sell - of course, there is no guarantee of that).Thank you very much for reading this report. Good luck with your investments. Remember the adage: “Put 10% of your net worth in gold, and hope it doesn't go up.” If gold is going up, it usually means there are problems elsewhere.Once again my recommended bullion dealer is the Pure Gold Company. Premiums are low, quality of service is high. You can deal with a human being. You can take delivery of your gold or store it online with them in their vaults. They deliver to the UK, US, Canada and Europe, or you can store your gold with them in their vaults.Until next time,Dominic This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.theflyingfrisby.com/subscribe

On today's show, Ian King speaks to Peter Arnold, chief economist at the EY ITEM Club, about their forecasts for the UK economy.The chief executive of the Financial Reporting Council, Richard Moriarty, is discussing new rules for directors, after complaints they will harm the UK's competitiveness.And Myron Jobson, senior personal finance analyst at Interactive Investor, talks about why younger private investors have been outperforming their older peers.

Good morning from London, where the FTSE 100 is down so far – dragged down by a near 5% fall in Sainsbury's share price. A trading statement from them this morning revealed that food sales remained strong in the fourth quarter of 2023 but general merchandise and clothing sales fell back, though they are maintaining full-year profit guidance of between £670-£700 million. Richard Hunter at Interactive Investor says strong food sales are not “being mirrored in other parts of the group… adding that consumers have become increasingly selective in non-essential items which, coupled with other competitors specifically concentrated in this space, has left Sainsbury trailing.” That resilience in food spending very much in evidence over at high street bakery chain Greggs, whose shares are up nearly 10% this morning. An update from them this morning reveals that cash generation is well ahead of expectations with net cash of £195m at year-end vs a £130m expectation from analysts. Seasonal lines, including the Festive Bake, Chocolate Orange Muffin and Christmas Lunch Baguette performed well as did pizza, which is a key component of the company's push to sell more products during the traditionally quieter evening segment of the day. Overall though the markets still getting back up to speed, with the next big bit of news expected to be fresh inflation figures from the US tomorrow afternoon UK. #ProactiveInvestors #FTSE100 #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews

Good morning from London where the FTSE 100 is down around half a percent as it stands, a drop more than accounted for by a heavy fall in Endeavour Mining's share price. Endeavour is one of the few London-listed companies to be publishing news today, the first Friday of the new year, and its no surprise the announcement has hit the share price – CEO Sébastien de Montessus has been drummed out of the business for what the company calls “serious misconduct” relating to a $5.9mln irregular payment instruction issued by him in relation to an asset disposal undertaken by the Company. He disputes the implication by the way. What other company news there is this morning is also of the bad kind, with the Indonesian government putting a spanner in the Pyx Resources' works – changes to export rules mean that the premium zircon company has some more work to do before it can start exporting its titanium dioxide. And there's been another twist in the Reabold Resources saga, the firm's nominated advisor Strand Hanson has said today that it would likely cease working with Reabold if a long-threatened shareholder coup succeeds next week. That could mean a suspension of its shares. Zooming out now to round things off and Richard Hunter from Interactive Investor says the Federal Reserve's “higher for longer” policy appears intact and will hurt growth, and here in the UK there's some fresh house price data from the Halifax, they say prices rose for the third consecutive month in December. A slightly dreary end to the week but don't let it dampen your spirits – have a great weekend from everybody here at Proactive #ProactiveInvestors #FTSE100 #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews

In this week's episode, we welcome James Check, the lead analyst at Glassnode, as our special guest. James delves into the on-chain dynamics of the recent Bitcoin rally and its subsequent price drop last Sunday, offering a detailed analysis of the market's movements. He sheds light on how the behavior of long-term holders and the average acquisition price of Bitcoin influence its trading patterns.Further exploring the lifecycle of bull markets, James provides an expert perspective on the different stages and what might lie ahead for crypto enthusiasts. A significant focus is placed on the upcoming Bitcoin halving in 2024, discussing potential outcomes and expectations within the community. James also examines the expanding world of derivatives in both onshore and offshore markets, highlighting their growing impact on the cryptocurrency landscape.Josh then steers us through a comprehensive market update, focusing on significant developments in the Solana ecosystem, including Orca and Helium, along with Helium's new mobile plan and the notable rise in AVAX.David concludes the episode with a macroeconomic overview and teases some key findings from our recent survey conducted in collaboration with Interactive Investor, offering a glimpse into the sentiments and trends shaping the future of digital assets.Remember to subscribe for more in-depth discussions and expert insights in the dynamic world of crypto.

Good morning to you,Sunday's piece on the inexorable rise of the far right and what to do about it has struck quite a few nerves. Check it out here, if you haven't already.In today's piece - considerably less political - which was first published in Moneyweek last Friday, we consider the sorry state of junior mining.Enjoy!DominicMining is infamously cyclical. But if ever there was an industry that blows desert hot and arctic cold, it is the subsector of small cap and early-stage companies known as junior miners. And boy has it been blowing cold.Many of the old hands are saying this is the worst bear market they have ever known. Worse than the 2013-15, when junior mining had a near-death experience, following the boom of the 2000s; worse than the bear market of the 1990s that came with colossally depressed metals prices at the end of a 20-year bear market and then the Bre-X scandal. Bre-X was one of the scams of the century. The Canadian gold mining company falsified gold samples from its mine in the middle of nowhere in Indonesia. The stock went up over 1,000-fold, from pennies to a C$6 billion valuation, before the fraud was exposed. Many were defrauded and the sector went into a prolonged depression, starving it of capital. The story became the basis for the film, Gold, starring Matthew McConaughey.Mining needs capital. It typically takes more than 15 years to take a mine from discovery to production. That's 15 years of drilling, development and mine building with no chance profit in sight - unless you sell your deposit to someone else who then has to find the capital to take it into production. Millions, sometimes billions of dollars are needed. There is no immediate return, there is no guaranteed return. Why invest in something with such long time horizons when you can invest in some tech play that will have its app uploaded to the app store, potentially generating revenue in a matter of months? The gains are quicker and the aggro is lower.A lot can happen in those 15 years developing a mine. The metals markets can change, from supply shortages sending prices higher to glut sending prices lower. The money markets can change - interest rates can go up, for example. The political situation can change - politicians might seize strategic assets or impose windfall taxes, anti-mining lobby groups might block development, ESG narratives might take hold and prevent progress. It might be that after 10 years of drilling you discover the deposit is not quite as economic as you once hoped.The Cycle TurnsMining is hard. Many walk away. Then there's no capital in the sector. With no capital, there's no new metal supply coming to market. Then there's a shortage of metal. Then, suddenly, we need to invest. Then capital floods the sector. It all starts to look rosy again. People make lots of money. Projects that will never make it to production start to get financed. Investors start to lose money. Rinse and repeat.With Vladimir Putin's invasion of Ukraine in 2022, commodities prices sky-rocketed. Supply chains were disrupted. Russian natural resources - and there are a lot of them - were now effectively off-line to the west. Nickel was probably the poster-child of the parabola. It suddenly spiked from around $17,000 to $100,000. The London Metals Exchange had never seen anything like it. Monday March 7th, 2022, was the date. That was the peak of the market. A bear market took hold. It has left the eyes of anyone invested in the sector bleeding. It doesn't matter if the metal being mined is base or precious, strategic or industrial, junior mining is in the doghouse. Metals prices themselves might not be that disastrous - gold is close to $2,000/oz. Copper is not far off $8,500/tonne. Iron ore is at $130/tonne. I've seen worse. The senior producers - the likes of BHP Billiton or Glencore - are not faring that badly either. It's the juniors - the development plays, the explorers - that have been slaughtered. There are exceptions. Uranium for example. We need uranium. Kazakhstan, the world's largest producer, is struggling to get its uranium to market in the west. It has Russia to the north, China, which will not export, the east. Afghanistan and Iran to the south. Ukraine to the east. It's geographically problematic. For that reason I like uranium and I think it's going higher. But more than 90% of the mining companies in the uranium mining ETFs will not see any production for at least a decade, probably two. Taking a uranium mine to production is an even longer process than for most other metals. The ETFs might be going up, but the companies within them are drains of capital. The only compelling reason to invest in them is that the value of their resources are perceived to be increasing. I wouldn't touch them myself. You are better off just owning the metal. Yellowcake (YCA.L), which stores it, is the way to play it.You could say the same for gold. Mining is supposed to give you leverage to the metal. That has not happened. This chart shows gold and the gold miners. When the chart is rising, miners are outperforming the metal. That has not happened in any sustained way for 20 years. The metal has been outperforming the miners. There are so many ways to own gold - ETFs, online bullion banks, futures, spreadbets, CFDs. Why take the individual company risk of a miner?Though, on the positive side, there are signs we are making a multi-year double bottom.If you are buying gold in these uncertain times, consider The Pure Gold Company, whether you are taking delivery or storing online. Premiums are low, quality of service is high. They deliver to the UK, US, Canada and Europe, or you can store your gold with them. I have an affiliation deal. More here.The opportunityThe result of all of this is that there are junior mining companies that are currently offering extraordinary value. I'm not saying that in two months' time they won't be offering even more value. That is to say they've got even cheaper. They might well have. But in any case here is a selection of four companies that I think have a good chance of doubling or tripling if and when this sector turns up.Two of these are Canada listed. That is where most juniors are based. So if you are foolhardy enough to want to buy any of these companies, you will need a broker that deals in Canadian companies. (I use II, Interactive Investor. They have their shortcomings, but they are cheap. If you sign up with them, say I referred you – frizzers@gmail.com – and you will get a year for free, while I gets a referral fee).Sierra Madre Gold and Silver (SM.V)Sierra Madre Gold and Silver (SM.V) is putting a past-producing silver mine, La Guitarra, in Mexico back into production. A fortnight ago it declared it has dramatically more silver than previously thought. Its mineral resource estimate went from 17 million ounces to 47.4 million ounces of silver in total (measured and indicated). This is a big development. The news came quicker than expected and better than expected. In mining it's usually the reverse. The market barely shrugged. In a bull market this news would have doubled the stock.Sierra Madre will be producing silver next year. Permits are all in place. The mine reconstruction is months not years away from completion. It needs silver at around $13-14 to break even. The silver price is $23-24, so it makes around $10 profit on each ounce. (It will end up being lower than that. It always is. But you get the point). The mine's previous production was 1 to 2 million ounces per year. Sierra could produce at higher rates than previously anticipated given the increased resource, but even at the previous rate Sierra will make US$10-20m per year, which, for a US$36m market cap company, is pretty compelling. Anticipated production rates are: 800,000oz in year one, 1.3m oz in year 2, then 1.6m, 1.75m and 2.2mn by year 5. There is also potential to increase the resource when it drills out the eastern part of the property.It is going to need to raise several million in the next few months, but CEO Alex Langer has that in hand. The next piece of the jigsaw is for him to demonstrate that to a doubting market. Then production hopefully by summer next year. Langer is buying. I have been buying too. Andrada Mining (ATM.L)Andrada Mining (ATM.L) is a play on both tin and lithium. It started out as a tin miner with lithium and tantalum bi-product, but lithium discoveries at its Uis project in Namibia have proved so compelling that the company re-branded itself as Andrada (after Brazilian mineralogist, Jose Bonifacio de Andrada e Silva, who first discovered the lithium-bearing minerals, petalite and spodumene). The lithium story has been suffering a little of late as the ESG narrative has lost its way, but this could prove a globally significant resource. In any case, though not that many seem to realise, the destiny of Andrada's lithium is in the ceramics industry not batteries. Management is young and ambitious. The company is producing tin at profit. We are waiting for news on a big catalyst for the stock, which is its partnership with a “strategic investor”. There are, we gather, numerous applicants but this is a conversation that has been going on a long time. It's a 5p stock. It could easily be 10 or 15p if this deal comes off.Tharisa PLC (LSE.THS / JSE:THA)Another cheap London-listed mining play is Tharisa PLC (LSE.THS / JSE:THA), which now has a market cap below £200 million. It has suffered because platinum group metals (PGMs) have been so out of favour, though it also produces significant amounts of chrome, which it ships directly to China at considerable profit, from its eponymous Tharisa mine in South Africa. Tharisa alone supplies around 10% of China's annual chrome demand, and chrome prices remain strong. The company has US$127 million in cash, and cash on hand of US$269 million including debt of US$142.2 million. Its dividend yield is currently around 9%. The money is to construct its Karo project in Zimbabwe, but weak PGM prices mean it has delayed development by a year, which is unfortunate. Even without Karo, which the market appears to have deemed a liability not an asset,  earnings per share for this year are roughly 32p, putting it on a PE of 2. Next year those earnings will be lower if the slide in PGM prices continues, so EPS will be lower. Then again PGM prices could rise. By the time Karo is producing you could be looking at a company with 400,000oz per annum of PGM and 2m tonnes of chrome production with decades of mine life. Huge. The market hates it. But it's a bargain. If you are prepared to take on the risk of, one, South Africa and, two, mining.Moneta Gold (ME.TO)Oh, Moneta. Like an errant lover that promises heaven and delivers only heartache.Moneta is developing the largest undeveloped gold project in North America - the Tower Gold project - near Timmins, Ontario. Its mineral resource estimate (MRE) showed it has 12.8 million ounces. With a market cap of C$100m, that means its gold is currently priced at US$6/oz. It is not unheard of for companies in such mining friendly jurisdictions to trade at ten times that. For example, nearby Marathon Gold, which has around 4m oz, has just last week been taken out by Calibre Mining, for an equivalent of around $60/oz. But, with all the successful step-out and infill drilling that has taken place - it has put out something like 16 positive news releases in a row - that resource estimate is going to increase to, in my view, somewhere above 15m oz. But this is a huge project, a low-grade bulk deposit, and it needs bucketloads of capital to take it forwards. It also needs a new CEO. Chairman, Josef Vejvoda, is standing in as Interim CEO, while the search goes forward.The investment thesis is that this asset is simply too big to ignore and that a major will buy it. My concern is that this story is so well known now - why has a major not already gobbled it up? UPDATE: Right on cue we have this news of a merger. At first glance, this is not the big take out I was hoping for, but I'll be back with more thoughts in the next day or two. Final note I'd love to tell you that a bull market is around the corner - cripes, it is overdue - and that these things are going to rocket. I can't say that. I can say these things are cheap. But we are just going into North American tax selling season, when investors sell off their losers to take a tax loss. That is only going to add to the selling pressure. But the amazing bull market of 2016 began almost on the last day of tax-loss selling in 2015. Let's hope/pray for a repeat. Bull markets in junior mining tend to strike when you least expect them. Often they just happen with no apparent trigger. When they do happen, they happen fast and the moves can take your breath away. It's often better to book your seat on the bus in advance.This article first appeared in Moneyweek Magazine.Buying gold?My recommended bullion dealer is The Pure Gold Company, whether you are taking delivery or storing online. Premiums are low, quality of service is high. They deliver to the UK, US, Canada and Europe, or you can store your gold with them. I have an affiliation deal. More here.How to get a SIPP, ISA and access to US or Canadian stocksI use II, Interactive Investor, for all of the above. They have their shortcomings, but they are cheap.If you sign up with them, say I referred you – frizzers@gmail.com – and you will get a year for free, while I gets a referral fee.If you have signed up with Interactive Investor in the past, please can you drop me a line at the above email and let me know.Disclaimer:I am not regulated by the FCA or any other body as a financial advisor, so anything you read above does not constitute regulated financial advice. It is an expression of opinion only. Please do your own due diligence and if in any doubt consult with a financial advisor. Markets go down as well as up. I do not know your personal financial circumstances, only you do, but never speculate with money you can't afford to lose. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.theflyingfrisby.com/subscribe

Good morning to you,Sunday's piece on the inexorable rise of the far right and what to do about it has struck quite a few nerves. Check it out here, if you haven't already.In today's piece - considerably less political - which was first published in Moneyweek last Friday, we consider the sorry state of junior mining.Enjoy!DominicMining is infamously cyclical. But if ever there was an industry that blows desert hot and arctic cold, it is the subsector of small cap and early-stage companies known as junior miners. And boy has it been blowing cold.Many of the old hands are saying this is the worst bear market they have ever known. Worse than the 2013-15, when junior mining had a near-death experience, following the boom of the 2000s; worse than the bear market of the 1990s that came with colossally depressed metals prices at the end of a 20-year bear market and then the Bre-X scandal. Bre-X was one of the scams of the century. The Canadian gold mining company falsified gold samples from its mine in the middle of nowhere in Indonesia. The stock went up over 1,000-fold, from pennies to a C$6 billion valuation, before the fraud was exposed. Many were defrauded and the sector went into a prolonged depression, starving it of capital. The story became the basis for the film, Gold, starring Matthew McConaughey.Mining needs capital. It typically takes more than 15 years to take a mine from discovery to production. That's 15 years of drilling, development and mine building with no chance profit in sight - unless you sell your deposit to someone else who then has to find the capital to take it into production. Millions, sometimes billions of dollars are needed. There is no immediate return, there is no guaranteed return. Why invest in something with such long time horizons when you can invest in some tech play that will have its app uploaded to the app store, potentially generating revenue in a matter of months? The gains are quicker and the aggro is lower.A lot can happen in those 15 years developing a mine. The metals markets can change, from supply shortages sending prices higher to glut sending prices lower. The money markets can change - interest rates can go up, for example. The political situation can change - politicians might seize strategic assets or impose windfall taxes, anti-mining lobby groups might block development, ESG narratives might take hold and prevent progress. It might be that after 10 years of drilling you discover the deposit is not quite as economic as you once hoped.The Cycle TurnsMining is hard. Many walk away. Then there's no capital in the sector. With no capital, there's no new metal supply coming to market. Then there's a shortage of metal. Then, suddenly, we need to invest. Then capital floods the sector. It all starts to look rosy again. People make lots of money. Projects that will never make it to production start to get financed. Investors start to lose money. Rinse and repeat.With Vladimir Putin's invasion of Ukraine in 2022, commodities prices sky-rocketed. Supply chains were disrupted. Russian natural resources - and there are a lot of them - were now effectively off-line to the west. Nickel was probably the poster-child of the parabola. It suddenly spiked from around $17,000 to $100,000. The London Metals Exchange had never seen anything like it. Monday March 7th, 2022, was the date. That was the peak of the market. A bear market took hold. It has left the eyes of anyone invested in the sector bleeding. It doesn't matter if the metal being mined is base or precious, strategic or industrial, junior mining is in the doghouse. Metals prices themselves might not be that disastrous - gold is close to $2,000/oz. Copper is not far off $8,500/tonne. Iron ore is at $130/tonne. I've seen worse. The senior producers - the likes of BHP Billiton or Glencore - are not faring that badly either. It's the juniors - the development plays, the explorers - that have been slaughtered. There are exceptions. Uranium for example. We need uranium. Kazakhstan, the world's largest producer, is struggling to get its uranium to market in the west. It has Russia to the north, China, which will not export, the east. Afghanistan and Iran to the south. Ukraine to the east. It's geographically problematic. For that reason I like uranium and I think it's going higher. But more than 90% of the mining companies in the uranium mining ETFs will not see any production for at least a decade, probably two. Taking a uranium mine to production is an even longer process than for most other metals. The ETFs might be going up, but the companies within them are drains of capital. The only compelling reason to invest in them is that the value of their resources are perceived to be increasing. I wouldn't touch them myself. You are better off just owning the metal. Yellowcake (YCA.L), which stores it, is the way to play it.You could say the same for gold. Mining is supposed to give you leverage to the metal. That has not happened. This chart shows gold and the gold miners. When the chart is rising, miners are outperforming the metal. That has not happened in any sustained way for 20 years. The metal has been outperforming the miners. There are so many ways to own gold - ETFs, online bullion banks, futures, spreadbets, CFDs. Why take the individual company risk of a miner?Though, on the positive side, there are signs we are making a multi-year double bottom.If you are buying gold in these uncertain times, consider The Pure Gold Company, whether you are taking delivery or storing online. Premiums are low, quality of service is high. They deliver to the UK, US, Canada and Europe, or you can store your gold with them. I have an affiliation deal. More here.The opportunityThe result of all of this is that there are junior mining companies that are currently offering extraordinary value. I'm not saying that in two months' time they won't be offering even more value. That is to say they've got even cheaper. They might well have. But in any case here is a selection of four companies that I think have a good chance of doubling or tripling if and when this sector turns up.Two of these are Canada listed. That is where most juniors are based. So if you are foolhardy enough to want to buy any of these companies, you will need a broker that deals in Canadian companies. (I use II, Interactive Investor. They have their shortcomings, but they are cheap. If you sign up with them, say I referred you – frizzers@gmail.com – and you will get a year for free, while I gets a referral fee).Sierra Madre Gold and Silver (SM.V)Sierra Madre Gold and Silver (SM.V) is putting a past-producing silver mine, La Guitarra, in Mexico back into production. A fortnight ago it declared it has dramatically more silver than previously thought. Its mineral resource estimate went from 17 million ounces to 47.4 million ounces of silver in total (measured and indicated). This is a big development. The news came quicker than expected and better than expected. In mining it's usually the reverse. The market barely shrugged. In a bull market this news would have doubled the stock.Sierra Madre will be producing silver next year. Permits are all in place. The mine reconstruction is months not years away from completion. It needs silver at around $13-14 to break even. The silver price is $23-24, so it makes around $10 profit on each ounce. (It will end up being lower than that. It always is. But you get the point). The mine's previous production was 1 to 2 million ounces per year. Sierra could produce at higher rates than previously anticipated given the increased resource, but even at the previous rate Sierra will make US$10-20m per year, which, for a US$36m market cap company, is pretty compelling. Anticipated production rates are: 800,000oz in year one, 1.3m oz in year 2, then 1.6m, 1.75m and 2.2mn by year 5. There is also potential to increase the resource when it drills out the eastern part of the property.It is going to need to raise several million in the next few months, but CEO Alex Langer has that in hand. The next piece of the jigsaw is for him to demonstrate that to a doubting market. Then production hopefully by summer next year. Langer is buying. I have been buying too. Andrada Mining (ATM.L)Andrada Mining (ATM.L) is a play on both tin and lithium. It started out as a tin miner with lithium and tantalum bi-product, but lithium discoveries at its Uis project in Namibia have proved so compelling that the company re-branded itself as Andrada (after Brazilian mineralogist, Jose Bonifacio de Andrada e Silva, who first discovered the lithium-bearing minerals, petalite and spodumene). The lithium story has been suffering a little of late as the ESG narrative has lost its way, but this could prove a globally significant resource. In any case, though not that many seem to realise, the destiny of Andrada's lithium is in the ceramics industry not batteries. Management is young and ambitious. The company is producing tin at profit. We are waiting for news on a big catalyst for the stock, which is its partnership with a “strategic investor”. There are, we gather, numerous applicants but this is a conversation that has been going on a long time. It's a 5p stock. It could easily be 10 or 15p if this deal comes off.Tharisa PLC (LSE.THS / JSE:THA)Another cheap London-listed mining play is Tharisa PLC (LSE.THS / JSE:THA), which now has a market cap below £200 million. It has suffered because platinum group metals (PGMs) have been so out of favour, though it also produces significant amounts of chrome, which it ships directly to China at considerable profit, from its eponymous Tharisa mine in South Africa. Tharisa alone supplies around 10% of China's annual chrome demand, and chrome prices remain strong. The company has US$127 million in cash, and cash on hand of US$269 million including debt of US$142.2 million. Its dividend yield is currently around 9%. The money is to construct its Karo project in Zimbabwe, but weak PGM prices mean it has delayed development by a year, which is unfortunate. Even without Karo, which the market appears to have deemed a liability not an asset,  earnings per share for this year are roughly 32p, putting it on a PE of 2. Next year those earnings will be lower if the slide in PGM prices continues, so EPS will be lower. Then again PGM prices could rise. By the time Karo is producing you could be looking at a company with 400,000oz per annum of PGM and 2m tonnes of chrome production with decades of mine life. Huge. The market hates it. But it's a bargain. If you are prepared to take on the risk of, one, South Africa and, two, mining.Moneta Gold (ME.TO)Oh, Moneta. Like an errant lover that promises heaven and delivers only heartache.Moneta is developing the largest undeveloped gold project in North America - the Tower Gold project - near Timmins, Ontario. Its mineral resource estimate (MRE) showed it has 12.8 million ounces. With a market cap of C$100m, that means its gold is currently priced at US$6/oz. It is not unheard of for companies in such mining friendly jurisdictions to trade at ten times that. For example, nearby Marathon Gold, which has around 4m oz, has just last week been taken out by Calibre Mining, for an equivalent of around $60/oz. But, with all the successful step-out and infill drilling that has taken place - it has put out something like 16 positive news releases in a row - that resource estimate is going to increase to, in my view, somewhere above 15m oz. But this is a huge project, a low-grade bulk deposit, and it needs bucketloads of capital to take it forwards. It also needs a new CEO. Chairman, Josef Vejvoda, is standing in as Interim CEO, while the search goes forward.The investment thesis is that this asset is simply too big to ignore and that a major will buy it. My concern is that this story is so well known now - why has a major not already gobbled it up? UPDATE: Right on cue we have this news of a merger. At first glance, this is not the big take out I was hoping for, but I'll be back with more thoughts in the next day or two. Final note I'd love to tell you that a bull market is around the corner - cripes, it is overdue - and that these things are going to rocket. I can't say that. I can say these things are cheap. But we are just going into North American tax selling season, when investors sell off their losers to take a tax loss. That is only going to add to the selling pressure. But the amazing bull market of 2016 began almost on the last day of tax-loss selling in 2015. Let's hope/pray for a repeat. Bull markets in junior mining tend to strike when you least expect them. Often they just happen with no apparent trigger. When they do happen, they happen fast and the moves can take your breath away. It's often better to book your seat on the bus in advance.This article first appeared in Moneyweek Magazine.Buying gold?My recommended bullion dealer is The Pure Gold Company, whether you are taking delivery or storing online. Premiums are low, quality of service is high. They deliver to the UK, US, Canada and Europe, or you can store your gold with them. I have an affiliation deal. More here.How to get a SIPP, ISA and access to US or Canadian stocksI use II, Interactive Investor, for all of the above. They have their shortcomings, but they are cheap.If you sign up with them, say I referred you – frizzers@gmail.com – and you will get a year for free, while I gets a referral fee.If you have signed up with Interactive Investor in the past, please can you drop me a line at the above email and let me know.Disclaimer:I am not regulated by the FCA or any other body as a financial advisor, so anything you read above does not constitute regulated financial advice. It is an expression of opinion only. Please do your own due diligence and if in any doubt consult with a financial advisor. Markets go down as well as up. I do not know your personal financial circumstances, only you do, but never speculate with money you can't afford to lose. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.theflyingfrisby.com/subscribe

Damien Fahy of moneytothemasses.com talks to Andy Leeks about money. On this week's episode Damien explains why fixed-fee investment platforms have suddenly become a cost-effective choice for more investors and not just the wealthiest. Damien then explains how to find viable alternatives to the popular Vanguard Lifestrategy funds. Finally, Andy provides an update on the latest scams doing the rounds.   Check out this week's podcast article on the MTTM website to see the full list of resources from this week's show.   Interactive Investor launches SIPP that costs just £5.99 per month - How does it compare? Interactive Investor review Hargreaves Lansdown review Vanguard SIPP review

Here is an interview with Alex Langer, CEO of Sierra Madre Gold and Silver. This video was exclusive to paid subscribers, but I am now releasing it for one and all.I own stock in this company. I know that we are in the thralls of a really bad junior mining bear market, and thus that you might not have the appetite for speculative silver development plays, but I still think there might be an opportunity here. Have a listen. (You can listen to it above or via Apple podcasts, Spotify or your regular podcast provider). See what you think. If you prefer you can watch the video of the interview. The transcript is here. My previous notes on the company are here and here. (My guide to investing in silver is here, and if you want to buy physical, here is where to go).Sierra Madre Gold and Silver (SM.V)Share price: C$0.36cFully diluted: 148m sharesMarket Cap: C$59mCash: US$9mYou can find out more about Sierra Madre here. Buying Canadian stocksIf you don't have a broker who can deal with Canadian stocks, Interactive Investor is a cheap and usually fairly reliable option for UK investors.They have their shortcomings, but they are cheap. If you sign up with them, say I referred you – frizzers@gmail.com – and you will get a year for free, while I gets a referral fee.If you have signed up with Interactive Investor in the past, please can you drop me a line at the above email and let me know.Disclaimer:I am not regulated by the FCA or any other body as a financial advisor, so anything you read above does not constitute regulated financial advice. It is an expression of opinion only. Resource stocks are famously risky, especially small and midcaps, so please do your own due diligence and if in any doubt consult with a financial advisor. Markets go down as well as up. Especially small and midcap resource stocks. I do not know your personal financial circumstances, only you do, but never speculate with money you can't afford to lose.Further to my email last week, A Hidden Gem in The Silver Markets, about Sierra Madre Gold and Silver (SM.V), here is my interview with the CEO, Alex Langer. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.theflyingfrisby.com/subscribe

Here is an interview with Alex Langer, CEO of Sierra Madre Gold and Silver. This video was exclusive to paid subscribers, but I am now releasing it for one and all.I own stock in this company. I know that we are in the thralls of a really bad junior mining bear market, and thus that you might not have the appetite for speculative silver development plays, but I still think there might be an opportunity here. Have a listen. (You can listen to it above or via Apple podcasts, Spotify or your regular podcast provider). See what you think. If you prefer you can watch the video of the interview. The transcript is here. My previous notes on the company are here and here. (My guide to investing in silver is here, and if you want to buy physical, here is where to go).Sierra Madre Gold and Silver (SM.V)Share price: C$0.36cFully diluted: 148m sharesMarket Cap: C$59mCash: US$9mYou can find out more about Sierra Madre here. Buying Canadian stocksIf you don't have a broker who can deal with Canadian stocks, Interactive Investor is a cheap and usually fairly reliable option for UK investors.They have their shortcomings, but they are cheap. If you sign up with them, say I referred you – frizzers@gmail.com – and you will get a year for free, while I gets a referral fee.If you have signed up with Interactive Investor in the past, please can you drop me a line at the above email and let me know.Disclaimer:I am not regulated by the FCA or any other body as a financial advisor, so anything you read above does not constitute regulated financial advice. It is an expression of opinion only. Resource stocks are famously risky, especially small and midcaps, so please do your own due diligence and if in any doubt consult with a financial advisor. Markets go down as well as up. Especially small and midcap resource stocks. I do not know your personal financial circumstances, only you do, but never speculate with money you can't afford to lose.Further to my email last week, A Hidden Gem in The Silver Markets, about Sierra Madre Gold and Silver (SM.V), here is my interview with the CEO, Alex Langer. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.theflyingfrisby.com/subscribe

The UK government has announced a package of reforms designed to boost pensions and increase investment in British businesses. A panel of experts explore the impact of this on your pots and what it could mean for your retirement. The experts in this podcast are Nigel Peaple, Director of Policy and Research at the Pensions and Lifetime Savings Association (PLSA) and Alice Guy, Head of Pensions and Savings at Interactive Investor. Presenter: Adam Shaw Reporter: Luke Smithurst Producer: Amber Mehmood Editor: Jess Quayle (First broadcast 3pm, Wednesday 19th July, 2023)

We speak to Victoria Scholar, head of Investment at Interactive Investor

Welcome to this brand-new investing podcast from the London South East. My name is Peter Higgins, you can find me on Twitter @conkers3 and I will be your host for this series of Investing Matters podcasts. What can you expect from the Investing Matters podcasts? A great question. You will find long form interviews with noteworthy veterans and experts from the investment and fund management industry. During these interviews each interviewee will share and impart their knowledge, learning and insights on what aspects of Investing truly matters to them and what in their view should matter to investors. We hope this knowledge exchange benefits all and enables all those accessing and listening to these podcasts to achieve even greater investing success. With that in mind, welcome to episode forty-six with Mike McCudden, a former Senior Market Maker, Head of Products, Institutional Sales, multi-skilled business professional and now CEO of InfinitX and JP Jenkins. Mike attended Glasgow Caledonian University where he attained a BA Honours Degree in Risk Management, and this whetted his appetite for financial risk management. His first job was working for McDonald's before gaining a job with Aitken Campbell & Co assisting the Market Maker, before gaining his own book as a Market Maker, setting prices and creating liquidity. Aitken Campbell & Co was taken over my Charles Schwab and Mike held a role as a Senior Market Maker. After earning a reputational as a hugely successful Senior Market Maker, executive positions as Regional Head of Scotland for CMC Markets, Institutional Sales at IG and Head of Products with Interactive Investor followed before Mike joined technology company Crowdx now known as InfinitX, which exists to power private markets. It this hugely informative Investing Matters interview you will hear of Mike's passion for technology, his “best job ever”, insights of being a Market Maker, learnings from across the markets, institutional relationship management, sales team management, corporate strategy, specialist products, public markets, working for an online broker. His journey with the pure technology play, private market financial trading ecosystem of InfinitX, helping companies raising finance, transition towards the IPO process, their purchase of JP Jenkins a public market but for private companies venue and their vast potential regarding enabling investing alongside entrepreneurs, startups and unlisted companies, corporate financing for a multi-trillion-dollar market including creating liquidity for the global behemoth Private Equity entities as a matched bargain facility. His personal investing strategy, patient capital dividend investing style, decision making process, thoughts on Artificial intelligence, Nasdaq and London Stock Exchange investments in secondary markets and much more. We hope you enjoy this podcast, and we look forward to hearing your feedback. Please subscribe to this podcast on your platform of choice and follow the @InvMattPodcast on Twitter.

Welcome to this brand-new investing podcast from the London South East. My name is Peter Higgins, you can find me on Twitter @conkers3 and I will be your host for this series of Investing Matters podcasts. What can you expect from the Investing Matters podcasts? A great question. You will find long form interviews with noteworthy veterans and experts from the investment and fund management industry. During these interviews each interviewee will share and impart their knowledge, learning and insights on what aspects of Investing truly matters to them and what in their view should matter to investors. We hope this knowledge exchange benefits all and enables all those accessing and listening to these podcasts to achieve even greater investing success. With that in mind, welcome to episode forty-three with Victoria Scholar, the double award-winning Head of Investment at Interactive Investor – the UK's second largest direct to consumer investment platform. She has a wide-ranging broadcast remit discussing the daily business news agenda, investment strategy and asset allocation, collective investments and direct shares, as well as macro-economics and markets. Previously Victoria was a financial journalist with IG Group and presented the business news at the IGTV broadcast channel. She has a background as a producer for Bloomberg and broadcast journalist for CNBC and BBC and is in demand as a financial and markets commentator for major TV networks in the UK and across the world with regards to business, finance and economics. Victoria started her career on the trading floor in the square mile at the investment bank Nomura. She holds a degree in Economics from University of Bristol and a broadcast journalism masters' degree from City University, London. She is also an award-winning technical analyst, having received the Bronwen Wood prize in her Society of Technical Analysis Diploma. This year Victoria also you won the coveted CityAM Analyst of the Year award, the Judges said Victoria, “offers a plain English approach to financial news, translating complex City moves for a wider audience”. In this Investing Matters interview, Victoria gives an overview of Interactive Investor, catalyst for the UK economy, Interest rates, Inflation, Tools used by the Bank of England, Risks, China's growth outlook, Secondary effects, Food inflation, Competition within the retail sector, Bank sector risks and opportunities, the Jurassic Park index, UK listings, regular investing, Forex, geopolitical risks, the benefits of long-term investing, why a well-diversified portfolio is key, managing your emotions, importance of investing psychology and much more. We hope you enjoy this podcast, and we look forward to hearing your feedback. Please subscribe to this podcast on your platform of choice and follow the @InvMattPodcast on Twitter.

Victoria Scholar, Head of Investment at Interactive Investor discusses why bond yields have just risen above levels last seen during Truss's mini budget crisis and also covers the CBI and KPMG both no longer expecting the UK economy to fall into a recession this year, Frasers Group buying a strategic stake in AO World & Waitrose is cutting prices on over 200 products.

Victoria Scholar, Head of Investment at Interactive Investor discusses Apple's Vision Pro AR headset, UK retail sales, Mortgage rates, Saudi's oil production cut, AB Foods #ABF, Unilever #ULVR, Diageo #DGE & cyber attacks at British Airways, BBC & Boots.

In the final episode of the series, Gabby is joined by 2003 Rugby World Cup winner Josh Lewsey. The former Army officer and England fullback is now a financial services CEO in Hong Kong, and tells of why he doesn't like dwelling on the past, who he asked for advice when England came calling, and why he aligns his investments with his personal goals.Subscribe to the show for free to and listen to other episodes from series one and two, featuring Alastair Campbell, Rachel Riley and Richard Curtis. The ii Family Money Show is brought to you by interactive investor (ii). This episode was recorded in March 2023. Follow interactive investor:Twitter @ii_coukFacebook /weareiiInstagram @interactive_investor Follow Gabby:Twitter @GabbyLoganInstagram @gabbylogan Important information:This material is intended for educational purposes only and is not investment research or a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy. The value of your investments can rise as well as fall, and you could get back less than you invested. The investments referred to may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. Pension and tax rules depend on your circumstances and may change in future. Past performance is not a guide to future performance. Interactive Investor Services Limited is authorised and regulated by the Financial Conduct Authority.

Analysis from Victoria Scholar, Head of Investment with Interactive Investor.

Google is laying off 12,000 workers, or about 6% of its workforce, becoming the latest tech company to trim staff as the economic boom that the industry rode during the COVID-19 pandemic ebbs. Google CEO Sundar Pichai, who also leads its parent company Alphabet, informed staff at the Silicon Valley giant about the cuts in an email that was also posted on the company's news blog. It is the company's biggest-ever round of layoffs and adds to tens of thousands of other job losses recently announced by Microsoft, Amazon, Facebook parent Meta and other tech companies as they tighten their belts amid a darkening outlook for the industry. Just last month, there have been at least 48,000 job cuts announced by major companies in the sector. “Over the past two years we've seen periods of dramatic growth,” Pichai wrote. “To match and fuel that growth, we hired for a different economic reality than the one we face today.” He said the layoffs reflect a “rigorous review” carried out by Google of its operations. The jobs being eliminated “cut across Alphabet, product areas, functions, levels and regions,” Pichai said. He said he was “deeply sorry” for the layoffs. Regulatory filings illustrate how Google's workforce swelled during the pandemic, ballooning to nearly 187,000 people by late last year from 119,000 at the end of 2019. Pichai said that Google, founded nearly a quarter of a century ago, was “bound to go through difficult economic cycles.” “These are important moments to sharpen our focus, re-engineer our cost base, and direct our talent and capital to our highest priorities,” he wrote. He called out the company's investments in artificial intelligence as an area of opportunity. There will be job cuts in the U.S. and in other unspecified countries, according to Pichai's letter. Tech companies that “not long ago were the darlings of the stock market” have been forced to freeze hiring and cut jobs in preparation for an economic downturn, said a note from Victoria Scholar, an analyst with U.K.-based Interactive Investor. This article was provided by The Associated Press.

When world-renowned economist Ha-Joon Chang first arrived in Britain in the 1980s he recoiled in horror at how dull and dreary British food was at that time. But it was not just the food that caused him to despair: it was mainstream economic thinking too. Neoclassical liberalism was, and still is, the only item he found on Britain's menu of economic ideas. Rethinking that menu is the theme of his new book, Edible Economics: A Hungry Economist Explains the World. Through a series of culinary anecdotes Chang explains that just as a rich and varied diet nourishes the body, moving beyond the narrow confines of neoclassical economics can help to build a better and fairer world. Speaking with Chang for this episode is Victoria Scholar, Head of Investment at Interactive Investor. ... Did you know that Intelligence Squared offers way more than podcasts? We've just launched a new online streaming platform Intelligence Squared+ and we'd love you to give it a go.  It's packed with more than 20 years' worth of video debates and conversations on the world's hottest topics. Tune in to live events, ask your questions or watch back on-demand totally ad-free with hours of discussion to dive into for just £14.99 a month. Visit intelligencesquaredplus.com to start watching today.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Energy giants are reaping the benefits of high energy prices. Shell followed ExxonMobil in doubling its annual profit for 2022 to nearly $40 billion, the highest in its 115-year history. It's sparked outrage among climate activists and those calling for higher taxes as households struggle with high energy bills. Also on the show: Victoria Scholar, Head of Investment at Interactive Investor, breaks down the latest interest rate hikes from the Bank of England and the Central Bank.  

Russia's war on Ukraine, Liz Truss's mini budget and soaring inflation have all hammered the UK in recent months. But as the country begins a new year with a new Prime Minister – how much drama and uncertainty should we expect in 2023? In this episode we bring together an expert panel to debate and discuss the big questions facing the British economy. Will inflation be brought under control? Can the country cope without closer ties to the EU? And how prepared is Europe for more geopolitical tension with Russia and China? Our chair Manveen Rana is joined by Jonathan Portes, economist and Professor of Economics and Public Policy at King's College, London; Victoria Scholar, Head of Investment at Interactive Investor, and Gerard Lyons, Chief Economic Strategist at the wealth manager Netwealth. ... Did you know that Intelligence Squared offers way more than podcasts? We've just launched a new online streaming platform Intelligence Squared+ and we'd love you to give it a go.  It's packed with more than 20 years' worth of video debates and conversations on the world's hottest topics. Tune in to live events, ask your questions or watch back on-demand totally ad-free with hours of discussion to dive into for just £14.99 a month. Visit intelligencesquaredplus.com to start watching today.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Damien Fahy of moneytothemasses.com talks to Andy Leeks about money. On this week's podcast Damien talks about the biases that exist with investment trusts and how they differ from unit trusts. Damien also explains the downside of Vanguard's LifeStrategy funds and why they have struggled in recent months.   Finally, Damien and Andy talk about the new Consumer Duty, a package of reforms designed to improve how financial firms serve their consumers   Check out this week's podcast article on the MTTM website to see the full list of resources from this week's show. Interactive Investor analysis - Investment Trusts vs Funds FCA sets out 'Consumer Duty' rules

We are joined by Andrea Bevis (Managing Director, UBS Private Wealth Management) and Victoria Scholar (Head of Investment, Interactive Investor.) This week we discuss how capital markets continue to change for the better, the Dollar is enjoying its roaring 20's, and the kick-off of earnings season. Also, Kim Khan shares what to watch for in Netflix earnings. UBS Survey - https://bit.ly/3O5AfdF Netflix Article: https://bit.ly/3o1vl6L Learn more about your ad choices. Visit megaphone.fm/adchoices

At present, I'm probably getting asked this more than anything else. “Should I be buying gold? How do I buy gold?”We have inflation, war, political discontent and financial instability, so I'm not surprised many are asking. Even if the gold price is stagnant, the case for owning it, for having wealth stored outside the system, is as strong as it has ever been. So should you be buying gold?The old Wall Street adage applies: “Put 10% of your net worth in gold, and hope it doesn't go up.”Thus today's piece, which comes at the request of several readers and listeners, explains how to buy gold. This is especially for those in the UK, Europe and North America.There are five ways to invest in gold.* You can buy bullion - coins or bars. * You can buy gold stored in vaults but allocated to you. * You can buy ETFs via your stock broker. These are funds that store gold, and thus the price of the fund tracks the gold price.* You can buy gold companies - refiners, royalty companies, miners and so on.* You can buy futures, CFDs or spreadbets. I'm not talking today about buying mining companies (if you are interested in mining companies, consider a paid subscription as gold mining companies are one of my areas of expertise). Nor am I talking about futures, CFDs or spread betting the gold price. This is not safeguarding your wealth outside the financial and political system. It is speculation - and in the right market can make you a lot of money. It can also lose you a lot.Today I'm talking about old school, physical goldI'll put to one side arguments about whether gold is a good investment or not (it is), whether it's going up or down, and simply explains what is the easiest, cheapest and, perhaps above all, safest way to buy gold.Which bullion to dealer to use?ETFs are a simple way to get exposure to the gold price. Easy to buy and sell, they are favoured by institutions. You buy an ETF just as you would buy any stock. London-listed gold ETFs include RMAU.L and PHAU.L The world's biggest is the NYSE-listed GLD. Baked into the price is usually pay a small premium to the spot price of gold, and a small annual percentage to cover storage and other related costs. But it's not really the same as owning actual metal, so the purists veer away from ETFs.To buy an ETF, you just need an account with a broker, such as Interactive Investor. (If you sign up with them, and say I referred you - frizzers@ gmail.com - you will get a year for free and I get a referral fee).The reason I steer away from ETFs is that they are too easy to get shaken out of. When you buy physical gold, to sell can be a bit of an undertaking, so it's less likely to be done on a whim. Owning physical tends to turn you into a long-term investor.In theory, there is not a great deal of difference between an ETF and the store it online with a bullion dealer route. Both are extremely convenient, for buying and selling. Both give you exposure to the gold price. But, as I say, I favour the storing it with a bullion dealer route, as it makes you less likely to sell. ETFs weaken your hands.So where do you buy gold from? I've used many dealers over the years. My current recommended bullion dealer in the UK is the Pure Gold Company, whether you are taking delivery or storing online. In Ireland it's Goldcore. Both deliver to the UK, US, Canada and Europe, or you can store your gold with them. I have affiliation deals with both.Where are you going to put it?Once you've decided where to buy it, the next question is: where to put it? Different people with different circumstances have different solutions. Some people have a safe at home and keep their gold there. Some keep their gold in safety deposit boxes. Others never take delivery at all, and keep it  safely stored in a vault with the dealer in sensible places like Zurich, Jersey or Singapore. I'm not convinced homes in our “vibrant” cities are safe, so these are not options I would take, but … I know one guy that has all his gold stored in a sock in his loft. I know another that has buried it in his garden, and only his close family know the location - he has quite a bit of land. I know another that keeps his gold and silver in plain sight - he uses the bars as doorstops. Nuts you may say, but how about this? He got burgled and the burglars didn't take the bars. They obviously thought they were just doorsteps …If you have somewhere safe to store it, I'm a great advocate of taking delivery. You get to handle your metal. There are lots of fantastic different coins from around the world to buy - Chinese Pandas, South African Krugerrands, American Eagles, Austrian Philharmonics, Canadian Maples, Australian Kangaroos. The bars are nice too. It's good to handle gold. But I refer you to my above comment about cities today.Competition amongst ETFs and bullion dealers has conspired to drive down prices, much to the benefit of the consumer. But there is one enormous cost that neither of these methods are able to avoid - tax.Sovereigns and BritanniasWhen you sell, you are incurring a Capital Gains Tax (CGT) event - 20% in the UK for higher rate tax-payers and 10% for lower (CGT). So that's unavoidable 10 or 20% cost for buying and selling gold at a profit. There's another method of buying gold (and silver), which, quite legally, avoids this cost altogether. There is a slightly higher premium to spot when you buy, but we are talking about a tiny amount, nothing like 20% CGT.Given the potential savings involved, it's surprising that more UK investors don't buy their gold and silver in this way. The method I'm describing, if you haven't already figured it out, is to buy sovereigns and Britannias.The gold sovereign used to be the pound coin. Imagine that - a pound coin made of solid gold. It was the pound coin from 1816, after the Great Recoinage, until 1932, when the UK finally abandoned its gold standard. Until then, the pound really was “as good as gold”. 22 carat gold to be precise – that's about 92% purity. A sovereign weighs about 7gs, which is about a quarter of an ounce. Such is the devaluation of money that has taken place over the last three generations, it now takes about 300 pound coins to buy an old pound coin.Despite no longer being on the gold standard, the Royal Mint began producing sovereigns again in 1957 and continues to the present day. A large number of them are actually minted in that well known British heartland, Delhi. (That's because there is a huge market for them in India).Technically these coins are legal tender, so they are exempt from CGT. As sovereigns are so common, the numismatic value is very low. You can pick up 100-plus-year-old Victorian coins at a few percent over spot. You get the history for free.The main exception is the 1937 sovereign struck for Edward VIII. As he abdicated, the coins were never circulated. One sold in 2014 for over half a million quid. That's some premium. Gold Britannias – which are an ounce in weight – only began to be issued in 1987. But they too are considered coins of the realm. Despite the fact that an ounce of gold is £1,450, the face value of a Britannia is £100. Don't ask me how that works. I'm sure there's a reason. But, as coins of the realm, they too are exempt from CGT.The Royal Mint began producing silver Britannias in 1997. They too weigh an ounce. They have a face value of £2 (an ounce of silver is about £16) and are also exempt from CGT.Sovereigns are not the most beautiful coins in the world - Britannias are nicer - but both make for a considerable saving on CGT (assuming you have made a gain when you come to sell - there's no guarantee of that).My current recommended bullion dealer in the UK is The Pure Gold Company, whether you are taking delivery or storing online. Premiums are low, quality of service is high. You can deal with a human being. In Ireland it's Goldcore. Both deliver to the UK, US, Canada and Europe, or you can store your gold with them. I have affiliation deals with both. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.theflyingfrisby.com/subscribe

Today Andy Silvester talks to Victoria Scholar, Head of Investment at Interactive Investor. They go through Rishi Sunak's unveiling of a windfall tax today, the Fed's plans to hike rates by 50 basis points in June and July, Elon Musk's painfully slow acquisition of Twitter, and JD Sports founder and CEO Peter Cowgill's shock departure from the firm. And in other business news: Ted Baker appears to be edging closer to a private equity takeover, transport group FirstGroup is considering a £1.2bn takeover bid from I Squared, and Nadine Dorries has launched a charter review of the BBC. See omnystudio.com/listener for privacy information.

Today Andy Silvester talks to Victoria Scholar, Head of Investment at Interactive Investor. They go through the rebound by European markets today after yesterday's sell-off, the US dollar's 20-year high, McColl's purchase by Morrisons, and Heathrow's strong results. Andy also talks to City A.M. reporter Charlie Conchie -- they unpick the Queen's Speech, going through energy and financial services bills. And in the news: Tesco chairman John Allan has called for a windfall tax, and Unite the Union's bid to become recognised as the official union at the FCA has been rejected. See omnystudio.com/listener for privacy information.

This week we discuss recession warnings, what this earnings season means for the market, and macro implications from Russia's continued invasion of Ukraine. With Eric Basmajian from EPB Macro Research, and Richard Hunter, Head of Markets at Interactive Investor. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today Andy Silvester hosts Victoria Scholar, Head of Investment at Interactive Investor. They go through Q1 results, where there's been unexpected negative GDP growth in the US, strong results for Standard Chartered, and a mixed bag for Barclays and Meta; and talk China's firm zero-Covid stance and its potential inability to backtrack. See omnystudio.com/listener for privacy information.

Today Andy Silvester talks to Richard Hunter, Head of Markets at Interactive Investor. They go through strong UK market performance; US indices -- Netflix woes, and the NASDAQ's near 13% dip this year; and the "easy money" economy this past decade, and how going forward young traders might be seeing lower returns on their investments for the first time. Andy also talks to City A.M.'s Opinion Editor, Sacha O'Sullivan -- they analyse Rishi Sunak's challenging past few weeks after turning the spending tap off. See omnystudio.com/listener for privacy information.

Today Andy Silvester talks to Victoria Scholar, Head of Investment at Interactive Investor. They go through some of the week's economics data on GDP, unemployment, retail sales, and talk trading updates. They discuss the latest from ASOS, Deliveroo, and EasyJet: ASOS is facing a raft of headwinds, as investors lose confidence in the online retailer; Deliveroo has recorded an uptick in orders compared to the same time last year; and EasyJet has been struggling to get staff in. Andy also goes through the news -- the UK's accounting watchdog has ordered an investigation into Deloitte's auditing of Go-Ahead Group; businesses have unleashed a wave of job cuts to avoid being hit by the National Insurance hike; and an Extinction Rebellion (XR) protest has caused the shutdown of Lloyd's of London's HQ. See omnystudio.com/listener for privacy information.

Today Andy Silvester chats to Victoria Scholar, Head of Investment at Interactive Investor, about China's tech sector being hit by significant stock market sell-offs yesterday and today; European equities down, with companies having exposure to China seemingly taking more of a hit; oil prices hitting a two-week low; and lacklustre labour participation in the UK job market. Andy also goes through the news: HSBC will be shutting down 69 branches; Bentley has doubled its 2021 profit; and Volkswagen's boss has warned of production shortages. See omnystudio.com/listener for privacy information.

In this episode of The City View, Andy Silvester goes through today's corporate headlines and chats to Nicholas Earl, City A.M's Energy Reporter, about how businesses have reacted to Russia's invasion of Ukraine; their role in such a crisis; and how increasing energy prices will significantly impact companies. Andy also talks to Becky O'Connor, Head of Pensions and Savings at Interactive Investor, about how inflation and current events can impact the pension pots and savings of those hoping to retire soon; and how the pandemic changed the status quo on work and its role in our lives. See omnystudio.com/listener for privacy information.

Topping ESG rankings (stocks): “Report--Meet the top 200 companies investing in a clean energy future”; “Barron's 100 Most Sustainable Companies”; “Top 5 ESG Stocks To Radar Now”; “10 Real Estate Companies That Are Both Greener and More Profitable”; “For Greenification in Munis, Try SMI”; and “This ETF is designed to help fight heart disease”; plus PODCAST: The Stocks Topping ESG Rankings. And More… Transcript & Links, Episode 77, February 25, 2022 Hello, Ron Robins here. Welcome to podcast episode 77 published on February 25, 2022, titled “The Stocks Topping ESG Rankings. And More…” — and presented by Investing for the Soul. investingforthesoul.com is your site for vital global ethical and sustainable investing news, commentary, information, and resources. Remember that you can find a full transcript, links to content – including stock symbols, quotes, and bonus material – at this episode's podcast page located at investingforthesoul.com/podcasts. Now, just a reminder. I do not evaluate any of the stocks or funds mentioned in this podcast. Furthermore, if you're concerned about the ESG and sustainability ratings of any stock or fund included in this podcast, check your broker's online site for such information. If your broker doesn't have this information, signup for free with Morningstar and you can gain access to company and fund ESG-sustainability ratings. Please note, I receive no compensation from Morningstar or anyone else covered in these podcasts. Also, if any terms are unfamiliar to you, simply Google them. Now a point about current volatile market conditions. You should know that in such markets studies show that companies highly rated for their ESG and sustainability scores usually show superior returns compared to the overall markets. Just a thought in these troubled times where we all wish for the troubles around Ukraine to get resolved peacefully and without much loss of life. ------------------------------------------------------------- 1. The Stocks Topping ESG Rankings. And More… Let's begin looking at As You Sow and Corporate Knights' Report: Meet the top 200 companies investing in a clean energy future. By TOBY A.A. HEAPS, ANDY BEHAR, MICHAEL YOW, AND MATTHEW MALINSKY. Here are some quotes. “The Clean200 are the largest 200 public companies ranked by green energy revenues… Geographically… the United States dominated the 2022 list, with 52 companies on the Clean200, while Canada had the second largest share with 18, closely followed by China, which 16 Clean200 companies are headquartered in. On average, 58% of revenues earned by Clean200 companies are classified as clean, which is up from 39% in 2021 and significantly above the 20% average clean revenue for their MSCI All Country World Index (ACWI) peers… $10,000 invested in the Clean200 on July 1, 2016, would have grown to $20,709 by January 31, 2022, versus $20,315 for the MSCI ACWI broad market benchmark and $13,167 for the MSCI ACWI/Energy benchmark for fossil fuel companies.” End quotes. The top five Clean 200 companies are Apple inc., Alphabet Inc., Intel Corp, TSMC, and Iberdrola. ------------------------------------------------------------- 2. The Stocks Topping ESG Rankings. And More… Another good ranking is the just-released 2022 edition of Barron's 100 Most Sustainable Companies. Writing about them is Lauren Foster. Ms. Foster writes, quote… “In the fifth annual Barron's ranking of America's Most Sustainable Companies, shares of the 100 companies on our list returned 34.4%, on average, in 2021, besting the S&P 500 index's 28.7%... 41 of the 100 companies on last year's list beat the market in 2021.” End quotes. Barron's top five are NVIDIA, ON Semiconductor, Crocs, Inc., Applied Materials, and Jones Lang LaSalle. ------------------------------------------------------------- 3. The Stocks Topping ESG Rankings. And More… Now Mavis Babcock at topnewsguide.com has penned this article titled Top 5 ESG Stocks To Radar Now. Here are their names followed by some brief quotes on each one. “1) Viking Energy Group (OTCMKTS:VKIN) is perfect for any speculative investor searching for ESG investments.  The diversified green company has made three recent acquisitions; a carbon capture system that produces sellable commodities from carbon emissions, a medical waste treatment device called the ‘OZONE', and a Green Renewable Diesel Production Facility in Reno that it is extremely close to closing on. 2) Mattel Inc. (NASDAQ:MAT) … the stock has gained 15% so far this year… Mattel is now projecting its 2021 net sales of $5.4 billion to grow 8% to 10% in the current year. Adjusted EPS is seen at $1.42 to $1.48. The toymaker also lifted its 2023 net sales growth forecast to high-single-digit from a previous outlook of mid-single-digit growth… Hasbro forecast growth of ‘low-single digit' in both annual revenue and operating profit this year. 3) American Financial Group Inc. (NYSE:AFG) … the stock has jumped 58% over the past year… (and) delivered fourth-quarter 2021 core net operating earnings per share of $4.12, which outpaced the Zacks Consensus Estimate by 38.3%. The bottom line doubled on a year-over-year basis. 4) CNH Industrial N.V. (NYSE:CNHI) … The stock is trading above 34% from its 52-week low and 4% away from its 52-week high. CNH Industrial came out with quarterly earnings of $0.25 per share, beating the Consensus Estimate of $0.21 per share. This compares to earnings of $0.30 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 19.05%. A quarter ago, it was expected that this truck, tractor and bus maker would post earnings of $0.22 per share when it actually produced earnings of $0.36, delivering a surprise of 63.64%. 5) Ternium S.A. (NASDAQ:TX) Is another stock in the ESG sector which has been showing consistent rise. The stock has moved up 8% over the past one quarter… Benefits of higher steel prices and healthy shipments are likely to reflect on its fourth-quarter results.” End quotes. ------------------------------------------------------------- Considering green real estate REITS? Well, here's a list also published in Barron's titled 10 Real Estate Companies That Are Both Greener and More Profitable. It's by Evie Liu. 2022 Rank* 2021 Rank Company Ticker REIT Industry Weighted Score 2021 Return Market Capitalization (bil)** Dividend Yield** 1 1 Kilroy Realty KRC Office 74 19.3 $7.1 3.3% 2 2 Host Hotels & Resorts HST Hotel 73 18.9 11.8 0.0 3 8 Boston Properties BXP Office 72 26.0 17.3 3.5 4 NR Ventas VTR Healthcare 71 7.9 20.4 3.5 5 3 Alexandria Real Estate Equities ARE Office 70 27.6 28.4 2.4 6 NR AvalonBay Communities AVB Apartment 70 61.4 33.1 2.7 7 5 Kimco Realty KIM Retail 69 68.8 14.4 2.9 8 NR Equity Residential EQR Apartment 69 56.7 32.5 2.8 9 4 Equinix EQIX Data Center 69 20.0 61.5 1.7 10 10 Brixmor Property BRX Retail 68 60.2 7.2 3.5 *Rank based on non-rounded weighted average; **Market cap and dividend yield as of 12/31/2021; NR=not on the 2021 ranking; N/A= not available Sources: Calvert Research & Management. ------------------------------------------------------------- For Greenification in Munis, Try SMI Many US ethical and sustainable investors like municipal bonds. If this, is you, review this article titled For Greenification in Munis, Try SMI. It's by TOM LYDON and published on etftrends.com. Here are some quotes from Mr. Lydon. “The vast fixed income market is fertile ground for green fund innovation.... Consider the case of the VanEck HIP Sustainable Muni ETF (SMI), which debuted last September as the first exchange traded fund dedicated to green municipal bonds. The actively managed VanEck HIP Sustainable Muni ETF is managed by HIP Investments — a pioneer in the green municipal bond space… ‘HIP Ratings incorporate research that shows which variables are key to improving outcomes. Then, HIP tracks data and metrics related to evidence-based targets and goal,' said HIP Investors founder and CEO Paul Herman in a recent note. (This ETF)… which sports a 30-day SEC yield of 1.27%, holds just 44 municipal bonds. That's the result of a high bar for entry created by HIP Investor's stringent investment criteria and the newness of green municipal bonds. None of the ETF's holdings exceed a weight of 4.77%. ‘HIP Investor's methodology, which precedes the term ‘ESG' by several years, uses five pillars based on Maslow's hierarchy of needs. These five pillars — Health, Wealth, Earth, Equality, and Trust – can be mapped to ESG as well,' adds Herman. Additionally, the HIP's methodology features a dual-pronged approach that focuses on sustainability and education… ‘In the VanEck HIP Sustainable Muni ETF (SMI), HIP Ratings also track the UN Sustainable Development Goals (SDG) framework, as well as a Climate Threat Resilience score,' notes Herman. California and New York municipal bonds combine for 60.6% of the ETF's weight. (This ETF) has an effective duration of 5.77 years, and 84% of its holdings carry investment-grade ratings.” End quotes. ------------------------------------------------------------- This ETF is designed to help fight heart disease while making you money. Here's how Now here's another specialist ETF that might be of interest to numerous ethical and sustainable investors. The article's titled This ETF is designed to help fight heart disease while making you money. Here's how. It's by Josh Meyers and found on cnbc.com. Here are some quotes from Mr. Meyers' article. “'The IQ Healthy Hearts ETF (HART)… is designed to help investors do well while doing good,' New York Life Investments' Wendy Wong told CNBC's 'ETF Edge' on Monday. HART's current portfolio includes companies such as UnitedHealth Group (UNH), Apple (AAPL), Novartis (NVS) and Johnson & Johnson (JNJ). The ETF, powered by Index IQ, sees a portion of fees go toward supporting the American Heart Association's fight against heart disease… ‘The American Heart Association uses [the funds] to support its Social Impact Fund,' she said. ‘This addresses health inequalities in under-resourced communities.' New York Investments' support has accelerated the growth of the Social Impact Fund by nearly three times, according to Wong. The HART ETF is significant in the ESG space as well, ETF Trends CEO Tom Lydon said in the same interview.  Lydon called the partnership a great example of ‘[making] sure that we're not only doing right but feeling good about it at the same time and maybe learning how we can help our family do a better job of staying healthy.' HART is outperforming the S&P 500 so far this year, down about 5% versus the benchmark index's 6% loss.” End quotes. ------------------------------------------------------------- Other Honorable Mentions – not in any order 1. Title Most Active Stocks Today? 4 Renewable Energy Stocks For Your Watchlist | Nasdaq. By Amos C. The stocks are Enphase Energy Inc (NASDAQ: ENPH), Daqo New Energy Corp (NYSE: DQ), Brookfield Renewable Partners LP (NYSE: BEP), and Solaredge Technologies Inc. (NASDAQ: SEDG). (As mentioned in previous podcasts, Daqo is accused of using Chinese forced labor.) 2. Title This Top Stock Is a Rock for Any Renewable Energy Portfolio | The Motley Fool. By Travis Hoium. Quote “First Solar (FSLR) was the one that I really wanted to bring to bear for people.” End quote. 3. Title Here are the top 20 BSE 100 companies with strong corporate governance: Report - BusinessToday. By Rahul Oberoi. Click the link on this podcast's webpage for company names. 4. Title 3 ethical ASX companies with Australian Ethical's Mike Murray | Ethical Investing in Australia | Rask Media. Recommendations by Mike Murray. Again, click the link on this podcast's webpage for the company names. 5. Title 6 Top-Performing ESG ETFs With High MSCI Ratings on money.usnews.com. By Aaron Davis and Tim Lawson. Again, click the link on this podcast's webpage for the company names. Recommendations Related to UK, Australian, and European Stocks and Funds 1. Title Interactive Investor's top 20 ethical funds and trusts | This is Money. By Jane Denton. Quote “The Baillie Gifford Positive Change impact fund was the most popular ethical option for investors with Interactive Investor over the past 10 months, new data shows.” End quote. As before, click the link on this podcast's webpage for list of the funds. ------------------------------------------------------------- Ending Comment Well, these are my top news stories with their stock and fund tips -- for this podcast: “The Stocks Topping ESG Rankings. And More…” To get all the links, stock symbols, or to read the transcript of this podcast -- and more -- go to investingforthesoul.com/podcasts and scroll down to this episode. Also, be sure to click the like and subscribe buttons in Apple Podcasts, Google Podcasts, or wherever you download or listen to this podcast. And please click the share buttons to share this podcast with your friends and family. Let's promote a better post COVID world through ethical and sustainable investing! Contact me if you have any questions. Stay well and healthy—and conscious about the ethical and sustainable values of your investments! Thank you for listening. Talk to you next on March 11. Bye for now. © 2022 Ron Robins, Investing for the Soul.

In this episode Andy Silvester chats to Victoria Scholar, Head of Investment at Interactive Investor, about a somewhat more muted market reaction than expected to Russia's troop movements in Ukraine. They also discuss gas prices increasing and what role the Russia-Ukraine conflict will play for central banks as they deal with inflation. See omnystudio.com/listener for privacy information.

On today's episode we cover everything from the ethics of credit cards to how to have a pension investing in sustainable projects with guest Becky O'Connor who is Head of Pensions & Savings at Interactive Investor, co-founder of Good With Money, an ethical adviser for Castlefield and a trustee at Mortgage Prison.Find out more here;https://twitter.com/rebeccaocohttps://good-with-money.com/Bank Trackhttps://www.banktrack.org/Triodoshttps://www.triodos.co.uk/Becky on managing family finances on the Penny Drops Podcasthttps://podcasts.apple.com/gb/podcast/how-to-plan-and-manage-family-finances/id1485884060?i=1000480923373Eco Life Hack - Veganury https://www.happycow.net/GET IN TOUCH!https://www.instagram.com/ageofplasticpodcast/https://twitter.com/andrea_foxhttps://www.iamandreafox.co.uk/https://www.facebook.com/ageofplasticpodcast