In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by two experts on financial history, Russell Napier, global market strategist and founder of the Library of Mistakes in Edinburgh, and Edward Chancellor, historian and author of The Price of Time, to put the dramas of Trump 2.0 in context.
This discussion was recorded on 25 March 2025 at the Weekend of Mistakes in Hay-on-Wye.
*** Out now: The 2025 Investment Trusts Handbook ***
The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. Available to order from Harriman House (https://harriman-house.com/ithb2025) or Amazon. There is also a free e-book version you can read on a PC, tablet or smartphone, plus an audiobook version.
Next week Jonathan will be speaking and signing copies of the Handbook at the Master Investor show in London on March 29th.
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Section Timestamps:
0:00:24 - Introduction
0:01:33 - Putting the Trump presidency into historical context
0:04:36 - Market reactions
0:06:50 - Trump’s motivations and agenda
0:11:52 - Will Scott Bessent reign in Trump’s more extravagant proposals?
0:16:00 - A short break
0:16:56 - Returning to capital controls and a loss of independence in central banks?
0:22:21 - Anticipating a change in market style
0:25:34 - Gold
0:27:58 - Putting on a hard hat
0:29:50 - The Library of Mistakes, London
0:30:36 - Close
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Produced by Ben Gamblin.
