In the Company of Mavericks

Finding Wonder Stocks with Jamie Ward -  Compounding, Nick Sleep, and the Parasite of Passive Investing How do you find the next "supernormal" company in a world of radical uncertainty? In this episode, we sit down with Jamie Ward, author of the Wonder Stocks newsletter and a mathematician-turned-investor who survived the Global Financial Crisis. Jamie shares his framework for identifying stocks c...

I recently chatted to Substacker, investment writer and investor, Jamie Ward. Jamie writes the Wonder Stocks newsletter with a focus on identifying compounding supernormal growth stocks, and he shares his thoughts on how to find these stocks.  He also discusses the damaging impact of passive investing on the stock-picking process.   Full episode to drop soon.  Be sure to subscribe.       

Are we over-indexed on the "Digital Masters of the Universe" while starving the physical supply chains that underpin national security? In this episode, we dive into why global capital might be facing the wrong direction. We’re joined by Django Davidson , Partner and Portfolio Manager at Hosking Partners , to explore the Capital Cycle Theory —an investment framework made famous by Marathon Asset M...

Supply is Measurable, Demand is Storytelling - Capital Cycle Investing with Django Davidson of Hosking Partners .  In his legendary book Capital Account, Chancellor said that:  Over the long run, it is a company’s return on capital, not changes in quarterly earnings, which primarily determines the direction of its share price. The return on capital of any company is largely subject to the state of...

The monetary metals, gold and silver and so-called digital gold, or Bitcoin, have had an unusual few months.     As recently as September last year, the gold price was $3,500/oz, silver was $40/oz, and a Bitcoin was priced at around $110,000.  Since then Gold rose by over 50% to $5,400 / oz before correcting to $5,000 / oz or up 40%; silver rose nearly 200% to $115 / oz before correcting to $80/oz...

Last week, I spoke with two longstanding advocates of outside money and the debasement trade: wealth manager Charlie Morris, the founder of the BOLD (Bitcoin and gold fund) and author, Substacker and all-round renaissance man, Dominic Frisby. My question to them was: WTF is happening to gold, silver, and Bitcoin, and following their extraordinary price actions over recent months, where to now? Ple...

Davos Man, The Revelation & Capital Rotation For this episode, I chat with Roger Lee , Head of Equity Strategy at Cavendish and a City veteran with almost 30 years in the equity market.  Roger started his broking career with Cazenove, then worked at HSBC James Capel, JPMorgan, Deutsche Bank, and, most recently, as Head of UK Equity Strategy at Investec.    Roger is a Fellow of the Institute of...

I spoke last week with Roger Lee, Market Strategist at London broker, Cavendish. We had a great conversation, sharing views on how politics have impacted markets over the span of our professional careers.  Particularly we discuss how we are in revelationary era for Davos Man, the global elite and the interests of the ordinary man. And how the West can no longer afford the cost of the state.  Roger...

Simple But Not Easy – The Investment Wisdom of Richard Oldfield Richard Oldfield, Founder of Oldfield Partners and author of Simple But Not Easy .  We discuss the psychology of value investing, the structural flaws of modern asset management, and the challenges of navigating the bifurcated markets of the mid-2020s. Episode Overview In this episode, veteran investor Richard Oldfield debunks myths a...

A preview of the upcoming episode of In the Company of Mavericks ,  Simple But Not Easy with Richard Oldfield . Hosted by Jeremy McKeown , this podcast series delivers conversations with people who dare to be different . Listen to this trailer and follow now to catch the full release and other exciting content on its way to your ears. 

In this episode, we move beyond the typical hype surrounding cryptocurrency and digital assets to dissect the plumbing of the global financial system.  To do this, we have a panel of industry insiders: You will hear from Steve Whyman , who previously ran Fidelity International’s debt capital markets business , where he built their investment thesis for digital assets from scratch. Joining him is I...

Coming soon, we explore how tokenisation is set to revolutionise the global economy. Joined by "friend of the pod" Marvin Barth of Seriously, Marvin? and Thematic Markets , we chat with digital assets specialists Dr Ian Hun t and Steve Whyman .   We expose the "absurd" complexity and cost added by traditional intermediaries in the financial sector. Discover how blockchain technology acts as the ul...

Is silver's price spike a bubble, or an early warning of government confiscation for AI data centres and military needs? Craig Tindale, Australian investor and essayist, argues the West has lost touch with the physical economy — and national capitalism is our only path back. In this episode: • Why Craig sees silver regulation or confiscation coming, or where we rip out solar panels for their silve...

According to Australian investor and essayist Craig Tindale , we are in an era of Hard Bifurcation, a terminal rupture between the monetary economy and the physical world. For forty years, Western orthodoxy has blythely assumed that financial liquidity and material goods were a unified system. But that linkage is dead, and we have entered a state of Impedance Mismatch. According to Tindale, Wester...

I recently caught up with Erik @ YWR, a widely experienced investment professional and popular Substacker.  Erik discusses his experience investing in Africa in the 20'teens and his involvement in what he calls Project Zimbabwe; don't think that we, in the West, are immune from our own versions of Project Zimbabwe. In Erik's view, we are, and counterintuitively, it partially explains Erik's curren...

I recently caught up with experienced investor and Substacker, Erik@YWR, to chat about the state of the markets and how he sees things for 2026. Erik has a unique perspective on what he calls Project Zimbabwe, which he experienced firsthand while running an African fund in the 2010s, and it enables him to be more bullish than most investors about his call for the S&P to reach 10,000 in this cy...

What have the Austrians ever done for us? The answer is quite a lot, particularly regarding the importance of liberty and free markets, and how government overreach in economic matters results in long-term damage and decline. However, Carl Menger, Ludwig von Mises, Friedrich Hayek, and other members of the so-called Austrian School have long occupied a fringe position in conventional economic thou...

What have the Austrians ever done for us? The answer is quite a lot, particularly regarding the importance of liberty and free markets, and how government overreach in economic matters results in long-term damage and decline. However, Carl Menger, Ludwig von Mises, Friedrich Hayek, and other members of the so-called Austrian School have long occupied a fringe position in conventional economic thou...

I visited Buenos Aires in November last year.    I wanted to see firsthand what was going on under the newly elected President, Javier Milei. I met some fascinating people who shared their stories and perspectives on the Milei Revolution.    As I was researching an article about my visit, I read some early accounts of the rise of Milei and the stories told about him in 2022 and early 2023.    In t...

I visited Buenos Aires in November last year.    I wanted to see firsthand what was going on under the newly elected President, Javier Milei. I met some fascinating people who shared their stories and perspectives on the Milei Revolution.    As I was researching an article about my visit, I read some early accounts of the rise of Milei and the stories told about him in 2022 and early 2023.    In t...

On the 27th of November, I had the good fortune to speak with a friend of the pod, Simon French, Head of Research at Panmure Liberum , and Thomas Moore, Senior Investment Director at Aberdeen , to discuss the UK Budget and its implications.    Simon, who writes a regular column in the Times, is a go-to person on the UK economy, and Thomas is steeped in experience and understanding of the value and...

Get ready for a touch of mansplaining as Simon French of Panmure Liberum and Thomas Moore of Aberdeen discuss the Budget and its implications for UK equities. Brought to you by Progressive Equity  

A few weeks ago, friend of the pod, Mark Wharrier , and I were invited to the 6th-anniversary party for the fund manager, Kernow Asset Management.   CEO Ed Hugo and CIO Alyx Wood have featured on previous episodes. But today, Mark and I chat with Alyx about his approach to the UK, why he finds it an attractive market with his active contrarian long-short strategy, and which ideas he is currently m...

I increasingly believe that to invest in today’s markets, one needs a macroeconomic framework. Pure momentum or valuation approaches are insufficient. I have been keen to talk with people who understand the macroeconomic and geopolitical landscape we operate in and have mental models for using these dynamics to increase the likelihood of identifying risk asymmetries.  Two of my guests this year fr...

I increasingly believe that to invest in today’s markets, one needs a macroeconomic framework. Pure momentum or valuation approaches are insufficient. I have been keen to talk with people who understand the macroeconomic and geopolitical landscape we operate in and have mental models for using these dynamics to increase the likelihood of identifying risk asymmetries.  Two of my guests this year fr...