The Library of Mistakes

Join Robbie Mochrie, organiser of our upcoming Weekend Of AI, in conversation with Eve Poole (author of Robot Souls) and Vladimir Maltsev (an ecomomist at the Adam Smith Business School, University of Glasgow). Eve and Vladimir are two of the expert speakers taking part in this exciting three-day event. In this episode, they offer provocative insights into what the rapid advance of AI may mean for...

Join Russell Napier in conversation with FT journalist Robin Wigglesworth discussing his fascinating new book on the history of bonds – A Fabulous Debt: The Epic Story of How Bonds Built the Modern World. Enjoy an entertaining and fact-packed gallop through the 400-year history of 'tradeable loans' – and hear about Robin's 'rock star' moment when he got to hold the world's oldest performing bond....

Join Robbie Mochrie, organiser of our upcoming Weekend Of AI, in conversation with Chris Stokel-Walker and Ellie Howard. Chris and Ellie are two of the expert speakers taking part in this exciting three-day event. In this episode, they offer fascinating insights into what the rapid advance of AI may mean for finance, business and society at large. Recommended listening! Part two, featuring two mor...

It's back-to-school time for everyone at Library of Mistakes, Future Asset and Leavers' Money Skills. David Clarke, CEO of Didasko (which runs these three wonderful charities) is back from his summer holidays and brimming with enthusiasm as he looks forward to our autumn events. But first, we're excited to introduce you to our new Librarian, Emily Holmes. Discover what's already caught Emily's eye...

Many of our listeners are interested in what financial history can tell us about the returns of financial assets – and particularly of equities. We are therefore delighted as Sandy Nairn and Michael O’Connell join Russell Napier to discuss their new paper for the University of Strathclyde – ‘What Does Shareholder Wealth Creation Tell Investors?’. Michael is an Accountancy and Finance Researcher at...

Manoj and Charles join Russell Napier to discuss their view that "real interest rates will rise because increasingly ageing societies will create a persistent and still-underappreciated deterioration in the government’s fiscal position". Can AI offset these demographic headwinds? The pair aren't convinced – suggesting that the glory days of central banks may be behind us. Lauded by Russell for onc...

As the Library of Mistakes prepares to host its first Edinburgh Fringe performance, we speak to the show's creator, Tom Paper. Mistakes On Maps is a witty, visually immersive journey through 20 historical maps, each featuring a fascinating flaw. Encounter sea monsters in the 1539 Carta Marina, the phantom continent of Terra Australis, California drawn as an island, the Open Polar Sea, canals on Ma...

LIVE RECORDING Welcome to a special episode of the podcast recorded live at the Library of Mistakes and featuring a debate between two distinguished former investment practitioners – Andrew Milligan and Sandy Nairn. The question they debate is: 'Does   history shows that current market valuations for AI are nuts?' Andrew, with his experience as a global strategist over many years, believes their v...

We have a real treat for you this time as we speak to financial crime expert Anja Shortland. After books on art theft and kidnapping, Anja has now turned her attention to ransomware, with her latest title We Know You Can Pay a Million – and offers fascinating glimpses into the business practices of the international criminals involved. Fraser Allen and Leila Johnston also hear from Future Asset's...

Blue Blood tells the story of Cazenove & Co., the prestigious stockbroking firm founded in 1823. Former CEO Robert Pickering reveals what happened in 2000 when the firm decided to abandon its traditional partnership structure, raise external capital and prepare for a stock market flotation. He then describes to Russell Napier the difficult years that followed as the firm reshaped its business,...

There are plenty of books suggesting ways in which wealthy people can invest their money, but very few for people who lack the investment funds in the first place. After suffering his own financial challenges, US academic Joseph S. Moore dipped into history to conduct a series of experiments in how to get the rich 'the American way'. That resulted in a funny, eye-opening and optimistic book, spark...

Join us in Montreal as we speak with François Boutin-Dufresne who, together with Karl Gauvin, is co-founder of the Observatoire des Erreurs – Canada's very own version of the Library of Mistakes. Inspired by a trip to Edinburgh, the Observatoire embraces the same ethos as the Library of Mistakes, and joins other extensions of our activity in Pune (India) and Lausanne (Switzerland). The Observatoir...

Welcome to a very special episode in which the talented young women of Future Asset stage a takeover of the podcast. Recorded at the annual Future Asset finals in Edinburgh (at which teams of girls from Scottish schools compete to present the most effective investment pitch), we discover why Future Asset is so valuable in encouraging young women to consider a career in investment and finance. This...

Welcome to a very special episode of the podcast, as we hear from eminent economic historian and prolific author Barry Eichengreen. Barry is the man who inspired our very own Russell Napier to realise that he could learn much more from the history of finance than he could from books on economic theory. That 'eureka' moment was inspired by Barry's first book, Golden Fetters – The Gold Standard and...

Join Russell Napier and Costa Vayenas as they explore a currency with a cult following – the Swiss Franc. Costa is author of The Swiss Franc, from 1798 to 2055 – and yes, that's not a typo. The book promises a treasure trove of deep data and insights, and explains how Switzerland manages with an ever-appreciating exchange rate. Looking ahead, it also discusses what long-term bond yield differentia...

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 unlik...

Russell Napier, founder of the Library of Mistakes, joins Fraser Allen & Leila Johnston to discuss the Library’s Practical History of Financial Markets, which has been running for almost two decades. What does it cover? Who is it for? And what are the benefits of taking part? Didasko CEO David Clarke is also on hand to offer his perspective on the course, while our Librarian Helen Williams rec...

In this episode, Robbie Mochrie catches up with Leila Johnston and Fraser Allen to discuss a series of events he has organised to celebrate the 250-year anniversary of Adam Smith's Wealth of Nations. Called The Smith Conversations, the programme begins on 9 March as a distinguished panel of guests assemble at the Library of Mistakes to discuss Smith on Equality. Further events explore Smith's thou...

Tom Levitt was exploring a course on 19th century history during the pandemic crisis when he stumbled upon WH Beable’s 'Romance of Great Businesses', a 1926 book exploring 32 iconic British companies. He was intrigued by the realisation that many of them still exist today (although mostly as brand names rather than intact corporations). It inspired the former teacher, MP and business advisor to de...

In the latest Shelf Life, we begin with a clip of Russell Napier speaking at this year's Mistake Of The Year awards at the Library of Mistakes - you can see the whole thing on YouTube (link below). We then discover the wonderful Weekend Of Mistakes, held every year in Hay-on-Wye, on the Welsh/English border. Inspired by the Library of Mistakes, the event shares the Library's mission of encouraging...

Join Russell Napier and American economist George Selgin as they discuss George’s book, ‘Good Money – Birmingham Button Makers, the Royal Mint and the Beginnings of Modern Coinage 1775-1821’. George’s colourful and impeccably researched insights into what served as money more than two hundred years ago remain every bit as relevant today. Produced by Fraser Allen. www.libraryofmistakes.com

There's a festive feeling in the air for the last Shelf Life episode of the year, in which our guests are Jonathan Ford and Neil Collins. The pair are co-presenters of A Long Time In Finance, a history of finance podcast, which is now part of the Library of Mistakes family. Jonathan and Neil talked to us about their background as financial journalists, the thinking behind the podcast, and memorabl...

Join Russell Napier in discussion with author Perry Mehrling about the extraordinary life of Charles P. Kindleberger – central banker, US Department of State representative steering post-war German reconstruction, leading academic, and author of Manias, Panics And Crashes. Kindleberger was driven by the hope that, if he helped people understand how the dollar system really works, they would stop t...

There's a student takeover for this episode of Shelf Life as the talented duo of Megan Day and Emilie Stewart interview Jen Mair. Jen is Chair of Future Asset, the charity which encourages young women to consider a career in finance. She is also Strategic Initiative Lead at Franklin Templeton and has wonderful insights about working in the sector, ably quizzed by Megan and Emilie, who are both Fut...

Once again, Leila Johnston and Fraser Allen are backstage at the Library of Mistakes, sampling highlights from the book collection, hearing about the many events and activities coming up, and meeting members of the team.  In this episode we have an in-depth chat with the newest member of the gang, economist and author Robbie Mochrie, who has taken on the mantle of 'Errorist In Residence'. Among ot...