Unhedged

Alan Livsey, a Financial Times journalist and market specialist, joins Rob Armstrong and Aiden Reiter to tackle stock-picking for 2025. They explore the interplay of macroeconomic factors and political events shaping investment choices. The discussion dives into the resurgence of gold investing, particularly in junior miners. Bold stock picks include tech giants like Google and financials, while they also highlight stable sectors like healthcare and private credit. The episode culminates in a light-hearted exchange celebrating simple pleasures amidst serious investment banter.

A game-changer has arrived in AI with DeepSeek challenging major US players, causing a stir in the markets. The discussion highlights shifting trade dynamics and the impact on companies like Nvidia. As new competitors rise, the landscape is likened to the dot-com bubble. Listeners also hear reflections on past market crashes and the necessity for cautious investment strategies. To lighten the mood, there's a humorous debate about family rivalries and a nod to Brazilian jiu-jitsu, weaving personal stories into the financial narrative.

Dive into the whirlwind of Trump’s policies and their potential market impacts. Discover insights on tariffs, trade relations with Canada and Mexico, and how immigration policies can affect inflation and the workforce. The hosts analyze the connection between political uncertainty and interest rates, with the U.S. 10-year yield as a focal point. Plus, enjoy a quirky take on the intriguing dynamic between Trump and Musk, as they navigate the intersection of politics, economics, and entertainment.

The hosts humorously kick off their stock picks for 2024, intertwining market insights with political commentary. They dive into the thrill of an annual stock-picking contest, sharing wild experiences with cryptocurrencies like MicroStrategy and Coinbase. Reflecting on past investment blunders, they discuss the complexities of stock picking and the importance of research. With a cheeky take on strategic ambiguity, they highlight the need for engaging media. Plus, a lighthearted debate ensues over the merits of indulging in pricey pastries from Gales Bakery.

High U.S. inflation isn't going away as quickly as some hoped. The hosts delve into recent trends showing inflation hovering near 3%, despite the Fed's 2% target. They discuss the persistent inflation in services, contrasting with falling costs in other areas. Humor comes into play when reflecting on the fleeting nature of New Year's resolutions, intertwined with some lighthearted jokes about the Ohio State Buckeyes. It's a blend of serious economic analysis and playful commentary on everyday life.

US bonds and UK gilts are in sync, facing a downward trend. The hosts dissect whether UK Chancellor Rachel Reeves holds the blame or if it's a global phenomenon. A playful term, “Brovid,” is introduced to describe the rise of online edgelords. With UK bond yields at a notable low, discussions touch on the role of U.S. economic trends, and there are critiques of current philosophical discourse in the investment world. Tensions between central bank policies and market responses add to the intrigue.

Corporate bankruptcies are surging, with notable names like Party City and Spirit Airlines falling prey. Even in a seemingly strong economy, financial mismanagement and online shifts are wreaking havoc on discount retailers. The conversation dives into the K-shaped recovery, where while some companies adapt, others struggle. Inflation's strain on lower-income families is highlighted, alongside investment strategies for stabilizing markets. A lighthearted discussion about dishwashers gives way to serious talk on Arctic geopolitics, showcasing the episode’s eclectic mix.

Discussing the looming uncertainties of tariffs, taxes, and geopolitical shifts, the hosts dive into how these factors could shape the economy. They explore the unpredictable investment climate and the potential intraday market volatility ahead. A lighthearted banter about men's jewelry trends contrasts sharply with their critique of the air fryer craze. This fusion of finance and personal style captures the complexities of the year to come, blending serious analysis with entertaining insights.

Celebrate the New Year with a lively discussion on the impact of passive investing and its influence on market dynamics. Delve into the balance between passive and active strategies and their effects on smaller companies. Explore the surprising links between U.S. federal deficits and stock performance while examining emerging markets. The hosts share personal resolutions, amusing anecdotes, and reflect on the importance of reading diverse authors in 2025. It's a smart and entertaining look at finance, culture, and personal growth.

Toby Nangle, a former fund manager and FT contributing editor with deep insights into finance, joins to discuss the U.S. government's substantial bitcoin holdings, confiscated from illegal operations. They explore Senator Lummis's proposal for a national strategic reserve of crypto and the implications this could have on the financial system. The conversation touches on bitcoin's speculative nature, its capped supply, and the historical parallels with financial bubbles. Plus, they lighten the mood by sharing festive favorites and whimsical wishes.