Many Happy Returns

Diversification is famously the only free lunch in investing. But when asset correlations shift, that meal might come with an unexpected bill. Economic cycles, inflation surprises, and market crises can all rewrite the rules when you least expect it. And in today’s Dumb Question of the Week: Can adding an asset with negative expected returns ever be good for your portfolio? --- Thanks to Raisin UK for supporting this episode. Raisin UK is a free, easy-to-use platform where you can access savings accounts from over 40 FSCS-protected banks and building societies — all in one place. What's more, for a limited time only, you can receive a £100 bonus when you register and fund your first savings account with a minimum of £10,000 using the code "SAVINGS100". For more details, please visit the link raisin.co.uk/pensioncraft ---Get in touch 📧 mhr@pensioncraft.com 🎧 many-happy-returns.captivate.fm --- Join PensionCraft 🌐 Become a member at pensioncraft.com ▶️ Subscribe on YouTube ---Disclaimer This podcast is for informational and entertainment purposes and is not financial advice. We do not provide recommendations or endorse any decision to buy, sell or hold any security. We cannot be held responsible for any actions listeners may take and investors are encouraged to seek independent financial advice. Copyright 2023 Many Happy Returns

Warren Buffett is stepping down as CEO of Berkshire Hathaway after an impressive six-decade run. The podcast dives into the implications of his retirement and if the company can sustain its success without him. It explores potential successors, their management styles, and the unique culture at Berkshire. Additionally, the discussion addresses why few investors can replicate Buffett’s legendary success, considering factors like luck and strategic decision-making in the investment world. Can Berkshire thrive in this new era?

Trump’s return to the White House is already reshaping the global order — sending shockwaves through financial markets. Asset prices have tumbled, correlations have fractured, and investors are reassessing risk itself. We’re joined by Katie Martin from the Financial Times to help us make sense of the turmoil. Katie writes The Long View column and co-hosts the FT's Unhedged podcast. --- Thank you to Trading 212 for sponsoring this episode. Claim free fractional shares worth up to ‎£⁠100. Just create and verify a Trading 212 Invest or Stocks ISA account, make a minimum deposit of £1, and use the promo code "RAMIN" within 10 days of signing up, or use the following link: Sponsored Link. Terms apply - trading212.com/join/RAMIN  When investing, your capital is at risk and you may get back less than invested. Past performance doesn’t guarantee future results. Pies & Autoinvest is an execution-only service. Not investment advice or portfolio management. Automatic investing refers to executing scheduled deposits. You are responsible for all investment and rebalancing decisions. Free shares can be fractional. 212 Cards are issued by Paynetics which provide all payment services. T212 provides customer support and user interface. Terms and fees apply. ---Get in touch 📧 mhr@pensioncraft.com 🎧 many-happy-returns.captivate.fm --- Join PensionCraft 🌐 Become a member at pensioncraft.com ▶️ Subscribe on YouTube ---Disclaimer This podcast is for informational and entertainment purposes and is not financial advice. We do not provide recommendations or endorse any decision to buy, sell or hold any security. We cannot be held responsible for any actions listeners may take and investors are encouraged to seek independent financial advice. Copyright 2023 Many Happy Returns

It’s April—ISA season is here. But what should you buy? Should you stick with a classic index fund, or is there a case for doing something different this year? And if you’re tempted to have a little fun with your investments, how much is too much? And in today’s Dumb Question of the Week: What’s the point of a ‘fun’ portfolio if it’s not going to beat the market? --- Thank you to Trading 212 for sponsoring this episode. Claim free fractional shares worth up to ‎£⁠100. Just create and verify a Trading 212 Invest or Stocks ISA account, make a minimum deposit of £1, and use the promo code "RAMIN" within 10 days of signing up, or use the following link: Sponsored Link. Terms apply - trading212.com/join/RAMIN  When investing, your capital is at risk and you may get back less than invested. Past performance doesn’t guarantee future results. Pies & Autoinvest is an execution-only service. Not investment advice or portfolio management. Automatic investing refers to executing scheduled deposits. You are responsible for all investment and rebalancing decisions. Free shares can be fractional. 212 Cards are issued by Paynetics which provide all payment services. T212 provides customer support and user interface. Terms and fees apply. ---Get in touch 📧 mhr@pensioncraft.com 🎧 many-happy-returns.captivate.fm --- Join PensionCraft 🌐 Become a member at pensioncraft.com ▶️ Subscribe on YouTube ---Disclaimer This podcast is for informational and entertainment purposes and is not financial advice. We do not provide recommendations or endorse any decision to buy, sell or hold any security. We cannot be held responsible for any actions listeners may take and investors are encouraged to seek independent financial advice. Copyright 2023 Many Happy Returns

The podcast delves into the shifting narrative of American exceptionalism amidst economic turbulence. It uncovers unusual movements in U.S. stocks, Treasuries, and the dollar that suggest investor unease. Key economic indicators hint at a possible recession, while contrasting trends in foreign and U.S. bonds are explored. The complexities of globalization, the disconnect between wealth and economic reality, and the strategies for investing in foreign bonds round out a compelling discussion of America’s financial landscape.

Global stock markets have taken a dive, losing nearly $10 trillion in value, and the fallout from political moves is shaking investor confidence. Discussions revolve around the impact of tariffs on commodities and stock valuations, revealing complex economic ramifications. The podcast delves into strategies for weathering this volatility, emphasizing the importance of sticking to investment plans. Key concepts like the 'Fed put' explain how the Federal Reserve attempts to stabilize markets, but challenges in managing inflation complicate matters.

Dive into the staggering national debt figures, with trillions haunting the UK and US. Explore whether these figures truly signal an imminent crisis or if they’re manageable within the larger economy. Historical trends reveal peaks during conflicts, showing how debt dynamics shift. Discover the stark contrasts between government and household borrowing—governments can create currency! The conversation tackles strategies for managing this debt, weighing risks like inflation and geopolitical challenges, while seeking smarter, long-term solutions.

Discover the potential of tax-free investing in the UK as the tax year wraps up, exploring ISAs, pensions, and more. Uncover how families can maximize savings with Junior ISAs and the nuances of dividend and capital gains allowances. A thought-provoking discussion reveals the long-term implications of ISA allowance freezes amid inflation. Plus, dive into the disparities of ISA usage among different income groups. This conversation blends finance with a touch of humor, making complex topics accessible and engaging.

The S&P 500 is facing challenges, yet some sectors like defense and banking are thriving. The rise of European defense stocks amid increased military spending showcases an unexpected market shift. There's growing interest in the Chinese tech landscape, and Western investors are increasingly drawn to its growth. Meanwhile, gold prices are surging as European markets show resilience against rising interest rates. The discussion also emphasizes the importance of long-term strategies amidst market corrections.

The podcast dives into the chaos of today’s geopolitical landscape, exploring the shift in U.S. foreign policy and rising tensions with Russia. Discussions include Europe’s defense spending and its effect on markets. It critiques America's manipulated economic statistics and delves into trade tensions affecting U.S.-Canadian relations. Innovative financial strategies are proposed to navigate market re-ratings, and there's a look at the implications of possible new economic frameworks and the politics surrounding U.S. debt management.