Podcast appearances and mentions of merryn somerset webb

Carson Block believes investors may be underestimating the economic consequences of artificial intelligence. The Muddy Waters founder and CEO joins Merryn Somerset Webb to explain why recent advances in AI have made him rethink its impact on the labour market—and why he believes widespread displacement of knowledge workers could eventually create a major challenge for financial markets.See omnystudio.com/listener for privacy information.

Merryn Somerset Webb and Bloomberg Opinion columnist and senior markets editor John Authers discuss how SpaceX’s market debut has highlighted the hidden risks of passive investing, from index concentration to the growing influence of benchmark providers. They also assess new Fed Chair Kevin Warsh’s first policy signals and debate whether today’s AI boom is a bubble—and what could bring it to an end.See omnystudio.com/listener for privacy information.

The SpaceX blockbuster IPO has captivated retail investors, but what happens after the initial excitement fades? Merryn Somerset Webb speaks to Hargreaves Lansdown's Anna Macdonald about the extraordinary demand for shares, the dangers of concentration risk, and what the IPO means for market democracy. See omnystudio.com/listener for privacy information.

On this week's Merryn Talks Money markets wrap, Merryn Somerset Webb and John Stepek discuss gold's recent correction and debate what healthy allocation could actually look like. They also consider what upcoming bumper IPOs mean for the return of public markets and whether inheritance tax free "patriotic bonds" could help Britain fund its defence budget.See omnystudio.com/listener for privacy information.

Who became wealthier in 2025 and what do they want from their financial advisor? Merryn Somerset Webb sits down with Capgemini's Gareth Wilson to discuss the latest World Wealth Report, the rise of robo-advisors and family offices and why traditional wealth management firms are facing growing competition. They also debate the question: Do investors want empathy from their wealth manager or simply better returns?See omnystudio.com/listener for privacy information.

On this special episode of the Merryn Talks Money markets wrap, hosts Merryn Somerset Webb and John Stepek discuss the SpaceX IPO. How can UK investors get access? Do the numbers add up? Why will it make life more complicated for passive investors? And what are the implications for the long queue of AI IPOs still to come, and for wider markets?See omnystudio.com/listener for privacy information.

At a time when politicians across the West are calling for higher taxes on the wealthy, legal scholar and author John O. McGinnis offers a strikingly different view: what if democracy needs the rich? He joins Merryn Somerset Webb to discuss power, inequality, free speech and what he says is the hidden role wealth plays in keeping democratic societies healthy.See omnystudio.com/listener for privacy information.

Inheritance tax is catching more families than ever, and recent rule changes will only extend the net even further. In this episode, hosts Merryn Somerset Webb and John Stepek discuss the most effective ways to reduce an IHT bill with inheritance tax specialist Rob May, including a detailed look at the types of insurance available, and how much they're likely to cost you.See omnystudio.com/listener for privacy information.

Could Africa’s long-misunderstood population boom become its greatest economic advantage? Economist and author Joe Studwell joins host Merryn Somerset Webb to discuss his book, How Africa Works: Success and Failure on the World's Last Developmental Frontier. He argues that rising population density is already transforming the continent by creating deeper markets, boosting agricultural productivity, supporting urbanization and making manufacturing more viable. While governance, debt and commodity dependence remain risks, he sees a more diverse, locally driven growth story emerging across Africa.See omnystudio.com/listener for privacy information.

Merryn Somerset Webb and John Stepek answer listener questions on how retail investor flows, passive investing, and social media have reshaped markets, arguing that the surge in everyday investing has significantly boosted stock prices — particularly in the US. They also discuss practical personal finance challenges around pensions, capital gains tax, and passive versus active investing.See omnystudio.com/listener for privacy information.

Merryn Somerset Webb speaks to Pictet Asset Management Chief Strategist Luca Paolini about why markets remain remarkably resilient despite geopolitical turmoil, inflation fears and mounting fiscal risks. Paolini argues that the AI investment boom, strong corporate earnings and persistent US economic strength continue to support markets — but warns that the era of US exceptionalism may be fading, making diversification and lower long-term return expectations essential for investors. See omnystudio.com/listener for privacy information.

Mortgage rates have jumped sharply—and fast—leaving buyers and homeowners scrambling to decide what to do next. Merryn Somerset Webb and John Stepek sit down with mortgage expert Anthony Emmerson, director at Trinity Financial, to unpack what’s really driving the market, whether now is still a good time to buy, and the surprisingly simple strategy that could save you thousands when remortgaging.See omnystudio.com/listener for privacy information.

Why Britain Needs A Crisis To Turn The Country AroundBritain has once again been plunged into political turmoil. Despite rebellion in the ranks, Prime Minister Keir Starmer refuses to go, and it's not yet clear which - if any - of his potential challengers will lay down the gauntlet to try to take the leadership from him. And nor is it clear, given the divided nature of the Labour party, that any new Prime Minister could hold down the job until the next general election. Merryn Somerset Webb and John Stepek discuss why Britain may need a 1976-style crisis to persuade our politicians to finally get a grip. See omnystudio.com/listener for privacy information.

What if AI isn’t coming for your job — but for your mind? In this episode of Merryn Talks Money, Merryn Somerset Webb speaks to Tom Slater, manager of Scottish Mortgage Investment Trust and partner at Baillie Gifford about his provocative paper, “AI Isn’t Coming for Your Job. It’s Coming for Your Mind,” and why the real risk may be a world that looks more productive while quietly losing the judgement, learning and expertise that make progress possible. They also discuss what that means for the future workforce and smart investing. Check out Tom Slater’s paper here: https://www.bailliegifford.com/en/global/all-users/insights/ic-article/2026-q1-ai-isn-t-coming-for-your-job-it-s-coming-for-your-mind-10061431/Sign up for the Merryn Talks Money newsletter: https://www.bloomberg.com/account/newsletters/merryn-talks-moneySign up for the Money Distilled newsletter https://www.bloomberg.com/account/newsletters/money-distilledSee omnystudio.com/listener for privacy information.

As I'm sure you know, it is all but impossible to destroy gold. Yes, yes, nuclear explosions, blah blah, mercury, aqua regia, but to all intents and purposes gold is permanent. It's been here since before the earth itself, and it'll be about long after it's gone, shining away.That also means that all the gold that has ever been mined still exists. Some of it has been lost, of course, but it's still there somewhere, even if it's sitting in sunken Spanish galleon off the coast of Tobago.There are just under 7 billion ounces of gold in the world, and just over 8 billion people, so about 4/5 of an ounce per person. Until the gold rushes of the 19th century, there were roughly 2/5 of an ounce per person.As you can see by the chart below there is now more gold per capita than ever before.What's really interesting, however, is how closely cumulative gold supply tracks global population growth. The two rise at remarkably similar rates over centuries.Gold supply expands slowly, organically and roughly in line with humanity itself. No central bank planned it that way.Right there is why gold is nature's money. But there are some changes afoot.Population growth is slowing rapidly. It is actually going backwards in some parts of the world. The Matt Ridley argument is that this is a result of prosperity. Merryn Somerset Webb thinks it's even more specific than that. She blames smart phones. She may have a point. South Korea is perhaps the most advanced smart phone nation. When I went there in 2015 I remember thinking that, technologically, it was a good 10 years ahead of Western Europe. Recently we learn it has the slowest population growth of the lot.Annual gold mining supply is at record levels, however: 3,600 tonnes last year. Does this mean gold per capita is set to increase?Probably but there is a big but and it looks like this.How about that for a table?No new major discoveries - 2 million ounces or more - in 2023 or 2024. As far as I know there were three in 2025 - in China, in Saudi Arabia and in Iran.But look at the trend. We have been below the 10-discovery threshold since 2009. Discoveries peaked in 1995.The long-term implications of this are enormous. If you live in a third world country such as the UK, I urge you to own gold or silver. The pound will be further devalued, as will the euro and dollar. The bullion dealer I use and recommend is The Pure Gold Company. They deliver to the UK, the US, Canada and Europe. More here.Gold is not like other commodities, copper, oil or wheat, say, where annual production dramatically affects price because so much of what was produced previously has already been consumed. Almost all the gold ever mined still exists somewhere, as i say.But mining supply still matters at the margin.The collapse in discoveries has not yet translated into falling production because it takes such a long time to bring a deposit into production. The average time from discovery to production is now around 17 years.But we are now roughly 17 years on from the late 2000s, when the discovery rate began to fall off a cliff.In other words, we may not be far away from the point where the collapse in discoveries finally starts feeding through into stagnating or declining mine supply.And unlike previous cycles, there do not appear to be dozens of giant new deposits waiting quietly in the wings.(Obviously, a higher gold price offsets some of this because lower-grade ore becomes economic to mine.)Here is the long-term production chart. You can see how supply has largely plateaued over the last ten years .Perhaps that also helps explain why, after 50,000 years of use (yes, that figure is correct), demand for gold from individuals, institutions and central banks remains so strong.Lots of interviews to share with you this weekI've been promoting the release of The Secret History of Gold in the US. First up with my US BFF, Tom WoodsOn Financial Sense with Jim Puplava (audio only)On Kitco News with Jeremy SzafronAnd, finally, Clem ChambersLast, but not least, here is this week's commentary, in case you missed it, looking at the precarious state of the UK's finances.Thank you for being a subscriber to the Flying Frisby.Until next timeDominic 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 I'm sure you know, it is all but impossible to destroy gold. Yes, yes, nuclear explosions, blah blah, mercury, aqua regia, but to all intents and purposes gold is permanent. It's been here since before the earth itself, and it'll be about long after it's gone, shining away.That also means that all the gold that has ever been mined still exists. Some of it has been lost, of course, but it's still there somewhere, even if it's sitting in sunken Spanish galleon off the coast of Tobago.There are just under 7 billion ounces of gold in the world, and just over 8 billion people, so about 4/5 of an ounce per person. Until the gold rushes of the 19th century, there were roughly 2/5 of an ounce per person.As you can see by the chart below there is now more gold per capita than ever before.What's really interesting, however, is how closely cumulative gold supply tracks global population growth. The two rise at remarkably similar rates over centuries.Gold supply expands slowly, organically and roughly in line with humanity itself. No central bank planned it that way.Right there is why gold is nature's money. But there are some changes afoot.Population growth is slowing rapidly. It is actually going backwards in some parts of the world. The Matt Ridley argument is that this is a result of prosperity. Merryn Somerset Webb thinks it's even more specific than that. She blames smart phones. She may have a point. South Korea is perhaps the most advanced smart phone nation. When I went there in 2015 I remember thinking that, technologically, it was a good 10 years ahead of Western Europe. Recently we learn it has the slowest population growth of the lot.Annual gold mining supply is at record levels, however: 3,600 tonnes last year. Does this mean gold per capita is set to increase?Probably but there is a big but and it looks like this.How about that for a table?No new major discoveries - 2 million ounces or more - in 2023 or 2024. As far as I know there were three in 2025 - in China, in Saudi Arabia and in Iran.But look at the trend. We have been below the 10-discovery threshold since 2009. Discoveries peaked in 1995.The long-term implications of this are enormous. If you live in a third world country such as the UK, I urge you to own gold or silver. The pound will be further devalued, as will the euro and dollar. The bullion dealer I use and recommend is The Pure Gold Company. They deliver to the UK, the US, Canada and Europe. More here.Gold is not like other commodities, copper, oil or wheat, say, where annual production dramatically affects price because so much of what was produced previously has already been consumed. Almost all the gold ever mined still exists somewhere, as i say.But mining supply still matters at the margin.The collapse in discoveries has not yet translated into falling production because it takes such a long time to bring a deposit into production. The average time from discovery to production is now around 17 years.But we are now roughly 17 years on from the late 2000s, when the discovery rate began to fall off a cliff.In other words, we may not be far away from the point where the collapse in discoveries finally starts feeding through into stagnating or declining mine supply.And unlike previous cycles, there do not appear to be dozens of giant new deposits waiting quietly in the wings.(Obviously, a higher gold price offsets some of this because lower-grade ore becomes economic to mine.)Here is the long-term production chart. You can see how supply has largely plateaued over the last ten years .Perhaps that also helps explain why, after 50,000 years of use (yes, that figure is correct), demand for gold from individuals, institutions and central banks remains so strong.Lots of interviews to share with you this weekI've been promoting the release of The Secret History of Gold in the US. First up with my US BFF, Tom WoodsOn Financial Sense with Jim Puplava (audio only)On Kitco News with Jeremy SzafronAnd, finally, Clem ChambersLast, but not least, here is this week's commentary, in case you missed it, looking at the precarious state of the UK's finances.Thank you for being a subscriber to the Flying Frisby.Until next timeDominic 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

Markets are ripping higher on blockbuster earnings and AI euphoria—but on this week's markets wrap, hosts Merryn Somerset Webb and John Stepek aren’t buying the calm. From contrarian magazine covers to a looming of IPO supply, they ask whether this melt-up is masking the seeds of the next downturn.See omnystudio.com/listener for privacy information.

What if owning a single share could get you discounted wine, cheaper holidays—or even a stronger voice in corporate decisions? Merryn Somerset Webb and John Stepek explore the forgotten world of shareholder perks, arguing they’re not just fun freebies but a powerful way to reconnect investors with the companies they own.See omnystudio.com/listener for privacy information.

Merryn Somerset Webb speaks with Temple Bar’s Ian Lance about the trust’s standout performance since 2020, driven by disciplined value investing—buying unloved, low-priced companies with recovery potential and holding them as sentiment improves. Lance argues that success comes from focusing on long-term earnings rather than short-term pessimism, even if it means owning controversial stocks.See omnystudio.com/listener for privacy information.

Merryn Somerset Webb sits down with John Stepek, Jim Mellon, billionaire investor and Chairman of The Burnbrae Group, and Blue Whale manager Stephen Yiu. The panel was part of the Master Investor Show, the UK’s largest gathering for private investors. This conversation was recorded on Saturday, April 25, 2026. See omnystudio.com/listener for privacy information.

Why has the UK become a nation of savers—but not investors—and what on earth do red squirrels have to do with it? Merryn Somerset Webb and John Stepek take aim at a baffling government campaign, unpack the real reasons people avoid investing, and argue that regulation, mistrust, and mixed messaging are costing Britons serious wealth.See omnystudio.com/listener for privacy information.

Former Bank of England Chief Economist Andy Haldane joins Merryn Somerset Webb to unpack why the UK may feel poorer, more fragile and seemingly out of options—despite sitting on untapped wealth and world-class innovation. From tough fiscal trade-offs and rising taxes to the surprising strength of private balance sheets, he argues the UK’s problems may be serious—but they’re far from unsolvable. The big question: can policymakers unlock growth before patience and confidence runs out?See omnystudio.com/listener for privacy information.

On this week's markets wrap, hosts Merryn Somerset Webb and John Stepek explore how markets are navigating a world of constant geopolitical “mini-crises,” where uncertainty keeps investors reactive rather than predictive. They discuss warning signs from corporate earnings, the fragile but not collapsing UK economy, and the growing disconnect between gloomy sentiment and relatively stable data.See omnystudio.com/listener for privacy information.

Merryn Somerset Webb and John Stepek discuss the ongoing push into private markets by Britain's largest workplace pension scheme (by membership), the National Employment Savings Trust. NEST plans to invest roughly £30 billion of its members' cash in private markets by the end of the decade. But what if you don't want your money invested in private assets? The pair discuss what you can do as an individual, and also look at the questions the plan raises about transparency, investor awareness, and whether - and how - savers should have more say in where their money is invested.See omnystudio.com/listener for privacy information.

Merryn Somerset Webb speaks with Ruffer fund manager Alexander Chartres about investing in a world marked by receding US dominance and a more inflation-prone, shock-driven global economy. Chartres argues Donald Trump is just an accelerant to changes that have been developing since the end of the Cold War. Traditional market assumptions like reliable hedges and stable globalization are breaking down, requiring more active, diversified investment strategies. Chartres highlights opportunities in commodities, energy, China technology and repurposed industrial capacity, while warning that political volatility and structural change will define markets for years to come.See omnystudio.com/listener for privacy information.

It might surprise some listeners, but UK-wide house prices have delivered only negligible returns after inflation over the past decade, note Merryn Somerset Webb and John Stepek, and London prices have actually fallen sharply in real terms. Rising interest rates, taxes, and political uncertainty continue to weigh heavily on the market. Yet guest Daniel Austin, chief executive of ASK Partners, suggests that while high transaction costs and policy risks remain a hurdle, prime central London may still look attractive at current levels to global investors with an eye for a bargain.See omnystudio.com/listener for privacy information.

Merryn Somerset Webb sits down with Janusz Marecki, CEO & Founder of Fractal Brain and AI Partner at Ahren Innovation Capital, for an insider perspective on AI hype vs. reality—and what may come next. The focus is on large language models (LLMs)—and whether they are hitting fundamental limits. Marecki discusses the data ceiling (we’ve used most high-quality internet data), diminishing returns from scaling compute and persistent issues like hallucinations and probabilistic errors.See omnystudio.com/listener for privacy information.

On this week’s markets wrap, Merryn Somerset Webb speaks with Helen Thomas of Blonde Money about how Middle East tensions are creating lasting energy disruptions despite ceasefire uncertainty. They warn this could drive persistent inflation and leave the UK particularly exposed.See omnystudio.com/listener for privacy information.

On this week's Merryn Talks Money personal finance episode, Merryn Somerset Webb and John Stepek answer an interesting listener question surrounding the active vs passive debate. The pair look at financial data spanning the past 40 years to help a listener understand the pros and cons of active vs passive investing and why passive investing isn't truly passive. See omnystudio.com/listener for privacy information.

Why did gold fail to protect portfolios during the latest market shock? In this episode of Merryn Talks Money, Merryn Somerset Webb speaks with Evy Hambro, global head of thematic and sector investing at BlackRock, about the violent moves in gold and silver, the new energy risk premium, and why commodities may be entering a powerful new cycle. They discuss inflation, interest rates, energy security, mining valuations, AI-driven demand for materials, and why investors may need to rethink how much exposure they have to gold, energy and broader commodity equities.See omnystudio.com/listener for privacy information.

The much-anticipated Weekend of Mistakes 2026 took place on 20-22 March, with leading investment and ecomonic thinkers such as Russell Napier, Merryn Somerset Webb and Professor Helen Thompson entertaining an enthusiastic audience gathered from across the UK and far beyond. Topics included football finance, the water industry, a guide for countries hoping to avoid going bust, and the mafia's unlikely role in shaping queer nightlife. It all took place in the stunning setting of Hay Castle in Hay-on-Wye on the Welsh border – and our very own Leila Johnston was there. Enjoy her report from a lively and thought-provoking weekend, and hear from several of the speakers and guests that she met.www.weekendofmistakes.orgwww.librayofmistakes.comProduced by Fraser Allen and Leila Johnston.

Merryn Somerset Webb and John Stepek speak with Paula Steele, director at John Lamb Hill Oldridge, about how to pass on an inheritance efficiently — minimising tax, managing the succession process, and avoiding unintended effects on beneficiaries’ motivation. The conversation was recorded at a live Bloomberg.com subscriber event in London on March 17.See omnystudio.com/listener for privacy information.

Cathie Wood, CEO and CIO of Ark Investment Management, joins Merryn Somerset Webb to make the bullish case for the next era of innovation. From AI, robotaxis and CRISPR to Bitcoin, Tesla and SpaceX, she lays out the technologies she believes will drive faster growth, lower costs and major market disruption.See omnystudio.com/listener for privacy information.

Merryn Somerset Webb sits down with Troy Asset Management founder and chief investment officer Sebastian Lyon to unpack why markets look eerily calm despite mounting geopolitical shocks—and why investors should be far more focused on protecting wealth than chasing returns. Lyon argues we’ve entered a new era of sticky inflation, fragile portfolios, and looming risks in government bonds. He talks about how he’s positioning for volatility, and offers some ideas for navigating markets when the old rules—like 60/40—no longer apply. This conversation was recorded at a live Bloomberg.com subscriber event in London on March 17.See omnystudio.com/listener for privacy information.

On this week's Merryn Talks Your Money personal finance episode, Merryn Somerset Webb and John Stepek tackle another listener question: should you invest in absolute return funds? They start by explaining what an absolute return fund actually is, the pros (aiming for absolute returns makes sense) and cons (it's not easy to achieve consistently) of such an investment, and look at what to consider when trying to pick such a fund. See omnystudio.com/listener for privacy information.

Contrarian investor Alec Cutler, manager of the Orbis Global Balanced and Cautious funds, joins Merryn Somerset Webb to discuss why global markets are shifting away from speculative growth toward the fundamentals that underpin economies—energy, infrastructure, and national security.Using his “pyramid of needs” framework, Cutler explains why investors are increasingly focusing on the resources and industries that sustain modern economies rather than the technologies built on top of them. The conversation explores opportunities in energy, AI infrastructure, global value stocks, and the changing geopolitical landscape shaping markets.See omnystudio.com/listener for privacy information.

On this week's Merryn Talks Your Money personal finance episode, Merryn Somerset Webb and John Stepek tackle a listener’s question about an issue many young UK professionals face: where should retirement savings go after auto-enrollment—a SIPP, an ISA or a Lifetime ISA? With markets volatile, rules changing and political risk on the horizon, the pair break down the pros and cons of each option. Sign up to the subscriber event here: https://www.bloombergevents.com/ZZ3kna?utm_source=Podcast&utm_campaign=Podcast&utm_medium=Podcast&RefId=subSee omnystudio.com/listener for privacy information.

On this week's Merryn Talks Money podcast, host Merryn Somerset Webb speaks with financial historian Edward Chancellor about how energy constraints and geopolitical tensions could reshape markets, whether the artificial intelligence boom is a bubble and what it all means for interest rates. Chancellor argues that AI enthusiasm may be overextended, warns of rising long-term rates and sovereign debt risks and makes the case for gold, commodities, Japan and emerging markets over bonds and expensive growth stocks. Sign up to the subscriber event here: https://www.bloombergevents.com/ZZ3kna?utm_source=Podcast&utm_campaign=Podcast&utm_medium=Podcast&RefId=subSee omnystudio.com/listener for privacy information.

Markets have swung sharply as the escalating war in Iran and across the Middle East injects fresh uncertainty into oil prices, inflation, and the path of interest rates. On this week's markets wrap, Merryn Somerset Webb and John Stepek discuss how prolonged energy supply disruption could Britain from mere chronic stagnation (which is bad enough) and into stagflation. They also explore the fault lines that higher-for-longer rates are starting to open up — from private credit stresses to long-running productivity woes.Sign up to the subscriber event here: https://www.bloombergevents.com/ZZ3kna?utm_source=Podcast&utm_campaign=Podcast&utm_medium=Podcast&RefId=subSee omnystudio.com/listener for privacy information.

Merryn Somerset Webb speaks with Simon Judes, chief investment officer of Winton, about how to properly understand quantitative investing. Judes attempts to demystify some of the strategies quantitative funds use to allocate capital across different portfolios. They also discuss the role artificial intelligence will play in quant fund research and capital deployment. Sign up to the subscriber event here: https://www.bloombergevents.com/ZZ3kna?utm_source=Podcast&utm_campaign=Podcast&utm_medium=Podcast&RefId=subSee omnystudio.com/listener for privacy information.

From YOLO to HALO. In this week's markets wrap, hosts Merryn Somerset Webb and John Stepek discuss why markets are ditching high multiple AI and software stocks, for "HALO" companies - heavy assets, low obsolescence - and why higher interest rates and even higher infrastructure costs may be behind the moves.To see the article Merryn references in the episode, please follow the link below.Special thanks to Joachim Klement who has allowed us to share this piece from his Klement on Investing Substack. https://klementoninvesting.substack.com/p/why-do-people-invest-in-expensiveSee omnystudio.com/listener for privacy information.

Many of the graduates whose university costs were funded with Plan 2 student loans are now in their 30s, wondering why they have no money at the end of the month, and why they still owe more student debt than they left uni with. The critical mass of graduates feeling the pinch might just have been reached - and now they're feeling angry and ripped off. On this week’s personal finance edition of Merryn Talks Money, Editor at Large for Bloomberg UK Wealth, Merryn Somerset Webb and author of the Money Distilled newsletter, John Stepek unpick how Plan 2 and the new - perhaps even worse - Plan 5 loans work, how and why graduate marginal tax rates can easily exceed 50% and what tweaks could be made to ease the burden. They also ask the overarching question: is the problem the system? Or is it the fact that the UK seems to be incapable of creating enough high paying jobs?See omnystudio.com/listener for privacy information.

Fiona Yang, portfolio manager on the Invesco Asia Dragon Trust, joins Merryn Somerset Webb to discuss why global capital rotated from US equities into emerging Asia in 2025—and what she sees happening in 2026. She explains her valuation-driven, long-term, contrarian approach to stock selection across diverse Asian markets, and shares how she weighs risks like geopolitics, demographics, currency moves, and frothy AI-linked valuations. Sign up to the subscriber event here: https://www.bloombergevents.com/ZZ3kna?utm_source=Podcast&utm_campaign=Podcast&utm_medium=Podcast&RefId=subSee omnystudio.com/listener for privacy information.

Merryn Somerset Webb and John Stepek are joined by Bloomberg’s Jack Sidders to break down how Real Estate Investment Trusts (REITs) work and why they’ve struggled in recent years. They explore the impact of interest rates, the significance of different sectors such as warehouses, student housing and data centers, and why many UK REITs trade at steep discounts. With interest rates potentially falling and supply constrained, they also discuss whether REITs could be poised for a comeback — and where investors might start. Sign up to the subscriber event here: https://www.bloombergevents.com/ZZ3kna?utm_source=Podcast&utm_campaign=Podcast&utm_medium=Podcast&RefId=subSee omnystudio.com/listener for privacy information.

Merryn Somerset Webb speaks with Panmure Liberum Chief Economist Simon French to unpack Modern Monetary Theory—the idea that governments issuing their own currency can spend freely, constrained only by inflation. They explore whether the pandemic offered a real-world test of MMT, why fiscal policy may be too blunt a tool to control inflation and what the theory could mean for UK politics, bond markets and capital allocation.Sign up to the subscriber event here: https://www.bloombergevents.com/ZZ3kna?utm_source=Podcast&utm_campaign=Podcast&utm_medium=Podcast&RefId=subSee omnystudio.com/listener for privacy information.

On this week's markets wrap, hosts Merryn Somerset Webb and John Stepek discuss a sharp market rotation driven by growing fears that AI will disrupt – rather than simply enhance – major sectors including legal services, wealth management, and digital platforms. As “old economy” stocks rise and Asian and European markets outperform, Merryn and John debate whether investors should shift away from the US and reassess opportunities in the UK, emerging markets, and smaller caps amid political uncertainty. See omnystudio.com/listener for privacy information.

With talk of an early UK election swirling, Reform Deputy Leader Richard Tice joins Merryn Somerset Webb to make the case that his party is ready to govern. Tice argues that Reform UK, which is leading in the polls, is gearing up policy “working groups” and road-testing power in local councils. He claims day-one moves like serving notice to leave the European Commission on Human Rights, scrapping the Human Rights Act and abandoning a net-zero approach to global warming would help cut energy bills—while he hints at a broader reset for UK markets, pensions, regulation and crypto.See omnystudio.com/listener for privacy information.

Merryn Somerset Webb is joined by Sky News economics editor Ed Conway, author of Material World, to explain why the real engines of modern life aren’t apps and algorithms—they’re the raw materials and “unseen” industries that make everything else possible. From salt and ethylene to ammonia and soda ash, Conway argues the UK (and Europe) are rapidly losing core chemical manufacturing capacity, driven by high energy costs and complacency about imports, with serious consequences for healthcare supply chains, industrial resilience and even defense. As the world pivots back toward the physical economy, from AI data centers to net-zero infrastructure, this conversation is a wake-up call for policymakers, investors and anyone who assumes critical materials will always be available on demand.See omnystudio.com/listener for privacy information.

In this emergency bonus episode of Merryn Talks Money, Merryn Somerset Webb and John Stepek unpack a sudden crypto selloff that has seen Bitcoin tumble nearly 50% from its highs, confounding expectations that it would behave like “digital gold.” To make sense of the chaos, they’re joined by Charlie Morris, founder and chairman of ByteTree, who explains why Bitcoin trades more like a tech asset than a safe haven — and why its brutal volatility may be a feature, not a bug. The conversation digs into Bitcoin’s four-year cycles, its relationship with liquidity and tech stocks, fears around quantum computing, and whether regulation or stablecoins change the long-term case.See omnystudio.com/listener for privacy information.

For today's show we're bringing you an evergreen episode that we found really insightful last summer and the lessons remain valid for today.The more than $100 trillion wealth transfer that’s projected to be passed down from older to younger generations over the next quarter century is set to reshape the wealth management industry. And younger investors plan to move their money to new advisors, according to a report by IT services and consulting group Capgemini.On this episode of Merryn Talks Money, the firm’s global banking industry leader, Gareth Wilson, joins host Merryn Somerset Webb to discuss why young people want to make the move and what they should consider when choosing new wealth managers.See omnystudio.com/listener for privacy information.